TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.9%
		AEROSPACE & DEFENSE - 0.7%
	639	TransDigm Group, Inc.(a)	$	406,583
		APPAREL & TEXTILE PRODUCTS - 7.0%
	26,304	Capri Holdings Ltd.(a)		1,707,393
	2,579	Deckers Outdoor Corporation(a)		944,713
	29,749	Tapestry, Inc.		1,207,809
				3,859,915
		ASSET MANAGEMENT - 3.4%
	26,087	Apollo Global Management, Inc.		1,889,481
		BANKING - 3.0%
	5,236	Signature Bank		1,693,689
		BIOTECH & PHARMA - 9.7%
	20,294	Horizon Therapeutics plc(a)		2,186,881
	22,500	Maravai LifeSciences Holdings, Inc.(a)		942,750
	10,549	United Therapeutics Corporation(a)		2,279,428
				5,409,059
		CHEMICALS - 1.5%
	3,481	Albemarle Corporation		813,753
		CONSTRUCTION MATERIALS - 1.5%
	1,947	Martin Marietta Materials, Inc.		857,693
		ELECTRICAL EQUIPMENT - 5.7%
	11,434	Fortive Corporation		872,300
	4,506	Generac Holdings, Inc.(a)		1,585,752
	3,671	Trane Technologies plc		741,652
				3,199,704
		ENGINEERING & CONSTRUCTION - 1.3%
	6,411	Quanta Services, Inc.		735,085
		FOOD - 1.3%
	10,181	Darling Ingredients, Inc.(a)		705,441

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.9% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 3.7%
	6,460	Catalent, Inc.(a)	$	827,074
	4,047	ICON plc(a)		1,253,356
				2,080,430
		INDUSTRIAL SUPPORT SERVICES - 3.3%
	5,503	United Rentals, Inc.(a)		1,828,592
		LEISURE FACILITIES & SERVICES - 1.5%
	40,303	Bloomin’ Brands, Inc.(a)		845,557
		MACHINERY - 5.1%
	6,510	Lincoln Electric Holdings, Inc.		907,950
	9,435	Oshkosh Corporation		1,063,418
	2,663	Parker-Hannifin Corporation		847,154
				2,818,522
		MEDICAL EQUIPMENT & DEVICES - 11.0%
	46,042	Avantor, Inc.(a)		1,940,210
	1,061	DexCom, Inc.(a)		569,704
	5,065	Insulet Corporation(a)		1,347,645
	14,484	Natera, Inc.(a)		1,352,661
	1,774	STERIS plc		431,809
	1,375	Teleflex, Inc.		451,660
				6,093,689
		RETAIL - CONSUMER STAPLES - 2.7%
	10,634	Dollar Tree, Inc.(a)		1,494,290
		SEMICONDUCTORS - 11.9%
	1,932	KLA Corporation		830,973
	28,579	Marvell Technology, Inc.		2,500,377
	4,239	Monolithic Power Systems, Inc.		2,091,226
	3,217	Skyworks Solutions, Inc.		499,085
	4,539	Teradyne, Inc.		742,263
				6,663,924

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.9% (Continued)
		SOFTWARE - 11.3%
	2,902	Fortinet, Inc.(a)	$	1,042,979
	498	HubSpot, Inc.(a)		328,257
	2,900	Palo Alto Networks, Inc.(a)		1,614,604
	17,373	Rapid7, Inc.(a)		2,044,628
	3,787	RingCentral, Inc., Class A(a)		709,494
	11,082	Varonis Systems, Inc.(a)		540,580
				6,280,542
		TECHNOLOGY HARDWARE - 5.3%
	4,649	Arista Networks, Inc.(a)		668,294
	20,440	Seagate Technology Holdings plc		2,309,311
				2,977,605
		TECHNOLOGY SERVICES - 4.3%
	1,292	EPAM Systems, Inc.(a)		863,637
	1,678	MSCI, Inc.		1,028,094
	4,020	TransUnion		476,692
				2,368,423
		TRANSPORTATION & LOGISTICS - 1.7%
	11,922	XPO Logistics, Inc.(a)		923,120
		TOTAL COMMON STOCKS (Cost $38,417,555)		53,945,097
		SHORT-TERM INVESTMENTS — 3.2%
		MONEY MARKET FUNDS - 3.2%
	1,799,967	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,799,967)(b)		1,799,967
		TOTAL INVESTMENTS - 100.1% (Cost $40,217,522)	$	55,745,064
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(61,194	)
		NET ASSETS - 100.0%	$	55,683,870

LTD	- Limited Company
MSCI	- Morgan Stanley Capital International
PLC	- Public Limited Company

^(a) Non-income producing security.

^(b) Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.1%
		Belgium - 3.9%
	49,200	Ageas S.A./N.V. - ADR	$	2,551,020
	67,600	KBC Group N.V. - ADR		2,913,560
				5,464,580
		Brazil - 0.8%
	293,000	Itau Unibanco Holding S.A. - ADR		1,098,750
		Canada - 8.4%
	59,300	Canadian Pacific Railway Ltd.		4,266,042
	57,300	Magna International, Inc.		4,637,862
	34,640	Open Text Corporation		1,644,707
	850	Shopify, Inc., Class A(a)		1,170,782
				11,719,393
		Cayman Islands - 2.5%
	2,400	ANTA Sports Products Ltd. - ADR		897,036
	43,700	Pagseguro Digital Ltd., Class A(a)		1,145,814
	27,500	Xinyi Glass Holdings Ltd. - ADR		1,348,600
	6,072	XP, Inc., Class A(a)		174,509
				3,565,959
		Finland - 2.0%
	113,600	Sampo OYJ - ADR		2,849,088
		France - 9.3%
	40,200	Air Liquide S.A. - ADR		1,401,774
	14,900	Arkema S.A. - ADR		2,112,075
	73,000	Safran S.A. - ADR		2,233,070
	80,400	Schneider Electric S.E. - ADR		3,152,484
	155,000	Vinci S.A. - ADR		4,078,050
				12,977,453
		Germany - 4.7%
	76,000	BASF S.E. - ADR		1,332,280
	38,000	Beiersdorf A.G. - ADR		782,420
	156,500	Deutsche Boerse A.G. - ADR		2,599,465
	62,400	Muenchener Rueckversicherungs-Gesellschaft A.G. in Muenchen - ADR		1,853,280
				6,567,445

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.1% (Continued)
		Hong Kong - 6.1%
	62,500	AIA Group Ltd. - ADR	$	2,520,281
	60,850	Techtronic Industries Company Ltd. - ADR		6,048,490
				8,568,771
		India - 4.8%
	35,200	HDFC Bank Ltd. - ADR		2,290,464
	112,100	ICICI Bank Ltd. - ADR		2,218,459
	89,000	Infosys Ltd. - ADR		2,252,590
				6,761,513
		Ireland - 4.7%
	11,500	ICON plc(a)		3,561,550
	23,700	Kerry Group plc - ADR		3,115,365
				6,676,915
		Israel - 3.0%
	13,800	Nice Ltd. - ADR(a)		4,189,680
		Italy - 1.7%
	297,000	Enel SpA - ADR		2,364,120
		Japan - 11.3%
	70,000	FANUC Corporation - ADR		1,490,300
	21,438	FUJIFILM Holdings Corporation - ADR		1,591,557
	27,500	Hoya Corporation - ADR		4,113,175
	95,300	Nippon Telegraph & Telephone Corporation - ADR		2,612,173
	26,700	ORIX Corporation - ADR		2,717,526
	56,000	Seven & i Holdings Company Ltd. - ADR		1,229,760
	71,000	Shimano, Inc. - ADR		1,898,540
				15,653,031
		Netherlands - 9.1%
	21,800	Adyen N.V. - ADR(a)		573,776
	5,950	ASML Holding N.V. - ADR		4,737,033
	13,000	NXP Semiconductors N.V.		2,961,140
	108,000	Prosus N.V. - ADR		1,793,880
	43,600	Yandex N.V., Class A(a)		2,637,800
				12,703,629

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.1% (Continued)
		Norway - 5.2%
	99,000	DNB Bank ASA - ADR	$	2,272,050
	151,000	Equinor ASA - ADR		3,975,830
	45,000	Mowi ASA - ADR		1,067,580
				7,315,460
		Portugal - 1.5%
	438,000	Galp Energia SGPS S.A. - ADR		2,115,540
		Singapore - 2.9%
	41,539	DBS Group Holdings Ltd. - ADR		4,044,237
		Spain - 2.5%
	51,000	Amadeus IT Group S.A. - ADR(a)		3,453,720
		Sweden - 2.5%
	58,500	Atlas Copco A.B. - ADR		3,486,600
		Switzerland - 2.6%
	41,200	Alcon, Inc.		3,589,344
		Taiwan Province Of China - 2.2%
	25,900	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		3,116,029
		United Kingdom - 4.4%
	8,100	Ashtead Group plc - ADR		2,663,118
	23,800	Rio Tinto plc - ADR		1,593,172
	53,900	Smith & Nephew plc - ADR		1,866,018
				6,122,308
		TOTAL COMMON STOCKS (Cost $95,724,708)		134,403,565

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 3.9%
		MONEY MARKET FUNDS - 3.9%
	5,527,472	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,527,472)(b)	$	5,527,472
		TOTAL INVESTMENTS - 100.0% (Cost $101,252,180)	$	139,931,037
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.0%		48,352
		NET ASSETS - 100.0%	$	139,979,389

ADR	- American Depositary Receipt
LTD	- Limited Company
NV	- Naamioze Vennootschap
OYJ	- Julkinen osakeyhtiö
PLC	- Public Limited Company
S.A.	- Société Anonyme

^(a) Non-income producing security.

^(b) Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

DECEMBER 31, 2021

Diversification of Assets
Country	% of Net Assets
Japan		11.3%
France		9.3%
Netherlands		9.1%
Canada		8.4%
Hong Kong		6.1%
Norway		5.2%
India		4.8%
Ireland		4.7%
Germany		4.7%
United Kingdom		4.4%
Belgium		3.9%
Israel		3.0%
Singapore		2.9%
Switzerland		2.6%
Cayman Islands		2.5%
Sweden		2.5%
Spain		2.5%
Taiwan Province Of China		2.2%
Finland		2.0%
Italy		1.7%
Portugal		1.5%
Brazil		0.8%
Total		96.1%
Money Market Funds		3.9%
Other Assets Less Liabilities - Net		0.0%
Grand Total		100.0%

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 78.3%
		AEROSPACE & DEFENSE - 1.0%
	2,416	TransDigm Group, Inc.(a)	$	1,537,252
		BANKING - 0.8%
	10,774	Western Alliance Bancorp		1,159,821
		BIOTECH & PHARMA - 5.7%
	18,734	Horizon Therapeutics plc(a)		2,018,776
	6,572	Neurocrine Biosciences, Inc.(a)		559,737
	7,104	Vertex Pharmaceuticals, Inc.(a)		1,560,038
	18,691	Zoetis, Inc.		4,561,165
				8,699,716
		CABLE & SATELLITE - 1.5%
	1,263	Cable One, Inc.		2,227,237
		CHEMICALS - 2.3%
	16,730	FMC Corporation		1,838,459
	4,997	Linde plc		1,731,111
				3,569,570
		CONSTRUCTION MATERIALS - 0.8%
	12,695	Owens Corning		1,148,898
		DIVERSIFIED INDUSTRIALS - 1.8%
	16,353	Emerson Electric Company		1,520,338
	6,258	Honeywell International, Inc.		1,304,856
				2,825,194
		ELECTRIC UTILITIES - 1.3%
	21,347	NextEra Energy, Inc.		1,992,956
		ELECTRICAL EQUIPMENT - 3.4%
	26,732	Amphenol Corporation, Class A		2,337,981
	13,796	Fortive Corporation		1,052,497
	8,164	Trane Technologies plc		1,649,373
				5,039,851

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 78.3% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 1.4%
	7,400	IQVIA Holdings, Inc.(a)	$	2,087,836
		INSTITUTIONAL FINANCIAL SERVICES - 1.3%
	14,572	Intercontinental Exchange, Inc.		1,993,012
		INSURANCE - 2.9%
	15,754	Arthur J Gallagher & Company		2,672,982
	56,896	Equitable Holdings, Inc.		1,865,620
				4,538,602
		LEISURE FACILITIES & SERVICES - 1.3%
	1,160	Chipotle Mexican Grill, Inc.(a)		2,027,970
		MACHINERY - 1.8%
	5,527	Caterpillar, Inc.		1,142,652
	14,366	Oshkosh Corporation		1,619,192
				2,761,844
		MEDICAL EQUIPMENT & DEVICES - 5.7%
	10,988	Baxter International, Inc.		943,210
	5,002	Danaher Corporation		1,645,708
	16,458	Edwards Lifesciences Corporation(a)		2,132,134
	5,934	Insulet Corporation(a)		1,578,859
	7,092	Intuitive Surgical, Inc.(a)		2,548,156
				8,848,067
		OIL & GAS PRODUCERS - 0.8%
	17,181	ConocoPhillips		1,240,125
		RETAIL - CONSUMER STAPLES - 3.9%
	6,208	Costco Wholesale Corporation		3,524,281
	10,119	Dollar General Corporation		2,386,364
				5,910,645
		RETAIL - DISCRETIONARY - 8.1%
	7,926	Burlington Stores, Inc.(a)		2,310,508
	17,574	Dick’s Sporting Goods, Inc.		2,020,834
	41,527	Foot Locker, Inc.		1,811,823

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 78.3% (Continued)
		RETAIL - DISCRETIONARY - 8.1% (Continued)
	9,092	Lowe’s Companies, Inc.	$	2,350,100
	3,742	Lululemon Athletica, Inc.(a)		1,464,806
	3,364	O’Reilly Automotive, Inc.(a)		2,375,758
				12,333,829
		SEMICONDUCTORS - 13.2%
	33,315	Advanced Micro Devices, Inc.(a)		4,794,028
	7,318	Analog Devices, Inc.		1,286,285
	5,155	Broadcom, Inc.		3,430,188
	1,672	Lam Research Corporation		1,202,419
	5,067	Monolithic Power Systems, Inc.		2,499,703
	15,980	NVIDIA Corporation		4,699,877
	10,302	NXP Semiconductors N.V.		2,346,590
				20,259,090
		SOFTWARE - 9.1%
	2,794	HubSpot, Inc.(a)		1,841,665
	5,008	Palo Alto Networks, Inc.(a)		2,788,254
	25,788	Rapid7, Inc.(a)		3,034,990
	4,306	ServiceNow, Inc.(a)		2,795,068
	9,354	Synopsys, Inc.(a)		3,446,949
				13,906,926
		TECHNOLOGY HARDWARE - 2.7%
	17,643	Seagate Technology Holdings plc		1,993,306
	33,942	Western Digital Corporation(a)		2,213,358
				4,206,664
		TECHNOLOGY SERVICES - 5.8%
	20,164	CDW Corporation/DE		4,129,184
	5,066	EPAM Systems, Inc.(a)		3,386,368
	12,608	Fidelity National Information Services, Inc.		1,376,163
				8,891,715
		TRANSPORTATION & LOGISTICS - 1.0%
	21,625	Canadian Pacific Railway Ltd.		1,555,703

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 78.3% (Continued)
		TRANSPORTATION EQUIPMENT - 0.7%
	12,086	PACCAR, Inc.	$	1,066,710
		TOTAL COMMON STOCKS (Cost $67,113,253)		119,829,233
		EXCHANGE-TRADED FUNDS — 18.2%
		EQUITY - 18.2%
	647,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF(b)		17,613,086
	265,000	Timothy Plan US Large/Mid Cap Core ETF(b)		10,263,159
		TOTAL EXCHANGE-TRADED FUNDS (Cost $23,553,050)		27,876,245
		SHORT-TERM INVESTMENTS — 3.6%
		MONEY MARKET FUNDS - 3.6%
	5,481,451	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,481,451)(c)		5,481,451
		TOTAL INVESTMENTS - 100.1% (Cost $96,147,754)	$	153,186,929
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(108,371	)
		NET ASSETS - 100.0%	$	153,078,558

ETF	- Exchange-Traded Fund
LTD	- Limited Company
NV	- Naamioze Vennootschap
PLC	- Public Limited Company

^(a)  Non-income producing security.

^(b)  Affiliated Company.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 87.7%
		AEROSPACE & DEFENSE - 1.7%
	38,745	Moog, Inc., Class A	$	3,137,183
		BANKING - 13.1%
	92,008	Columbia Banking System, Inc.		3,010,502
	44,834	Hilltop Holdings, Inc.		1,575,467
	73,500	Provident Financial Services, Inc.		1,780,170
	83,635	Renasant Corporation		3,173,948
	64,396	Sandy Spring Bancorp, Inc.		3,096,160
	108,476	Simmons First National Corporation, Class A		3,208,719
	27,010	Triumph Bancorp, Inc.(a)		3,216,350
	49,754	Trustmark Corporation		1,615,015
	78,810	Veritex Holdings, Inc.		3,135,062
				23,811,393
		CHEMICALS - 5.5%
	56,719	Avient Corporation		3,173,428
	159,960	Ecovyst, Inc.		1,637,990
	17,731	Innospec, Inc.		1,601,819
	27,024	Stepan Company		3,358,813
				9,772,050
		ELECTRIC UTILITIES - 3.4%
	73,193	Avista Corporation		3,109,971
	52,382	NorthWestern Corporation		2,994,155
				6,104,126
		ENGINEERING & CONSTRUCTION - 1.7%
	31,347	Comfort Systems USA, Inc.		3,101,472
		FOOD - 3.5%
	154,521	Hostess Brands, Inc.(a)		3,155,319
	20,455	J & J Snack Foods Corporation		3,231,072
				6,386,391
		FORESTRY, PAPER & WOOD PRODUCTS - 0.9%
	17,693	UFP Industries, Inc.		1,627,933

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 87.7% (Continued)
		GAS & WATER UTILITIES - 1.0%
	66,524	South Jersey Industries, Inc.	$	1,737,607
		HEALTH CARE FACILITIES & SERVICES - 1.6%
	179,793	Aveanna Healthcare Holdings, Inc.(a)		1,330,468
	51,347	Patterson Companies, Inc.		1,507,035
				2,837,503
		HOME CONSTRUCTION - 4.5%
	40,190	Century Communities, Inc.		3,287,140
	59,796	Griffon Corporation		1,702,990
	27,198	Masonite International Corporation(a)		3,208,004
				8,198,134
		HOUSEHOLD PRODUCTS - 1.8%
	66,154	Central Garden & Pet Company, Class A(a)		3,165,469
		INDUSTRIAL INTERMEDIATE PROD - 0.9%
	28,208	AZZ, Inc.		1,559,620
		INSTITUTIONAL FINANCIAL SERVICES - 4.3%
	48,738	Moelis & Company, Class A		3,046,613
	129,733	Perella Weinberg Partners		1,668,366
	17,024	Piper Sandler Cos		3,038,954
				7,753,933
		INSURANCE - 1.8%
	55,251	Argo Group International Holdings Ltd.		3,210,636
		LEISURE FACILITIES & SERVICES - 4.4%
	81,304	Bloomin’ Brands, Inc.(a)		1,705,758
	48,678	Chuy’s Holdings, Inc.(a)		1,466,181
	36,580	Jack in the Box, Inc.		3,200,018
	12,182	Papa John’s International, Inc.		1,625,932
				7,997,889
		MACHINERY - 6.0%
	11,227	Alamo Group, Inc.		1,652,390
	61,715	Altra Industrial Motion Corporation		3,182,642

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 87.7% (Continued)
		MACHINERY - 6.0% (Continued)
	20,710	Astec Industries, Inc.	$	1,434,582
	34,776	Columbus McKinnon Corporation		1,608,738
	68,593	Federal Signal Corporation		2,972,820
				10,851,172
		MEDICAL EQUIPMENT & DEVICES - 4.3%
	54,478	Avanos Medical, Inc.(a)		1,888,752
	21,431	CONMED Corporation		3,038,059
	45,637	Merit Medical Systems, Inc.(a)		2,843,185
				7,769,996
		METALS & MINING - 1.8%
	12,189	Encore Wire Corporation		1,744,246
	62,629	Livent Corporation(a)		1,526,895
				3,271,141
		OIL & GAS PRODUCERS - 4.6%
	76,736	Brigham Minerals, Inc.		1,618,362
	66,059	PDC Energy, Inc.		3,222,358
	53,135	Whiting Petroleum Corporation(a)		3,436,772
				8,277,492
		REAL ESTATE INVESTMENT TRUSTS - 6.8%
	62,475	Community Healthcare Trust, Inc.		2,953,193
	111,547	Plymouth Industrial REIT, Inc.		3,569,504
	25,568	PotlatchDeltic Corporation		1,539,705
	171,467	Summit Hotel Properties, Inc.(a)		1,673,518
	128,167	Urban Edge Properties		2,435,173
				12,171,093
		REAL ESTATE OWNERS & DEVELOPERS - 1.7%
	188,333	Radius Global Infrastructure, Inc., Class A(a)		3,032,161
		RETAIL - DISCRETIONARY - 4.5%
	39,680	Academy Sports & Outdoors, Inc.(a)		1,741,952
	53,145	Monro, Inc.		3,096,759
	64,149	Sonic Automotive, Inc., Class A		3,172,168
				8,010,879

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 87.7% (Continued)
		SEMICONDUCTORS - 3.5%
	120,374	Amkor Technology, Inc.	$	2,984,071
	108,709	Rambus, Inc.(a)		3,194,958
				6,179,029
		TECHNOLOGY HARDWARE - 2.8%
	80,957	ADTRAN, Inc.		1,848,248
	184,828	Viavi Solutions, Inc.(a)		3,256,670
				5,104,918
		TECHNOLOGY SERVICES - 1.6%
	157,726	Repay Holdings Corporation(a)		2,881,654
		TOTAL COMMON STOCKS (Cost $132,553,015)		157,950,874
		EXCHANGE-TRADED FUNDS — 11.5%
		EQUITY - 11.5%
	580,000	Timothy Plan US Small Cap Core ETF(b)		20,611,692
		TOTAL EXCHANGE-TRADED FUNDS (Cost $14,834,080)
		SHORT-TERM INVESTMENTS — 1.4%
		MONEY MARKET FUNDS - 1.4%
	2,486,790	Fidelity Government Portfolio, Class I, 0.01% (Cost $2,486,790)(c)		2,486,790
		TOTAL INVESTMENTS - 100.6% (Cost $149,873,885)	$	181,049,356
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6)%		(1,094,889	)
		NET ASSETS - 100.0%	$	179,954,467

ETF	- Exchange-Traded Fund
LTD	- Limited Company
REIT	- Real Estate Investment Trust

^(a) Non-income producing security.

^(b)  Affiliated Company.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 74.5%
		AEROSPACE & DEFENSE - 2.0%
	27,306	General Dynamics Corporation	$	5,692,482
		BANKING - 3.5%
	50,836	BOK Financial Corporation		5,362,689
	46,118	Western Alliance Bancorp		4,964,603
				10,327,292
		CABLE & SATELLITE - 1.4%
	2,382	Cable One, Inc.		4,200,538
		CHEMICALS - 4.1%
	162,736	Huntsman Corporation		5,676,232
	17,598	Sherwin-Williams Company (The)		6,197,311
				11,873,543
		DIVERSIFIED INDUSTRIALS - 3.7%
	31,289	Eaton Corp PLC		5,407,364
	24,572	Honeywell International, Inc.		5,123,508
				10,530,872
		ELECTRIC UTILITIES - 4.0%
	90,068	CMS Energy Corporation		5,858,923
	60,696	WEC Energy Group, Inc.		5,891,761
				11,750,684
		ELECTRICAL EQUIPMENT - 1.8%
	210,398	Vertiv Holdings Company		5,253,638
		FOOD - 4.0%
	38,411	J M Smucker Company (The)		5,216,982
	65,484	McCormick & Company, Inc.		6,326,409
				11,543,391
		INSTITUTIONAL FINANCIAL SERVICES - 1.9%
	40,067	Intercontinental Exchange, Inc.		5,479,964

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 74.5% (Continued)
		INSURANCE - 1.8%
	30,074	Arthur J Gallagher & Company	$	5,102,656
		MACHINERY - 1.9%
	28,566	Middleby Corporation (The)(a)		5,620,646
		MEDICAL EQUIPMENT & DEVICES - 5.0%
	29,493	PerkinElmer, Inc.		5,929,862
	21,538	STERIS plc		5,242,565
	26,921	Zimmer Biomet Holdings, Inc.		3,420,044
				14,592,471
		OIL & GAS PRODUCERS - 4.6%
	69,689	ConocoPhillips		5,030,152
	45,199	EOG Resources, Inc.		4,015,027
	55,915	Valero Energy Corporation		4,199,776
				13,244,955
		REAL ESTATE INVESTMENT TRUSTS - 3.8%
	22,539	Crown Castle International Corporation		4,704,791
	38,323	Prologis, Inc.		6,452,060
				11,156,851
		RETAIL - CONSUMER STAPLES - 1.9%
	23,805	Dollar General Corporation		5,613,933
		RETAIL - DISCRETIONARY - 5.9%
	8,006	O’Reilly Automotive, Inc.(a)		5,654,077
	47,457	Ross Stores, Inc.		5,423,386
	25,417	Tractor Supply Company		6,064,497
				17,141,960
		SEMICONDUCTORS - 11.1%
	6,528	ASML Holding N.V. - ADR		5,197,202
	10,180	Broadcom, Inc.		6,773,874
	32,642	Lattice Semiconductor Corporation(a)		2,515,393
	65,599	Microchip Technology, Inc.		5,711,049
	13,819	Monolithic Power Systems, Inc.		6,817,327

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 74.5% (Continued)
		SEMICONDUCTORS - 11.1% (Continued)
	18,224	NVIDIA Corporation	$	5,359,861
				32,374,706
		SOFTWARE - 6.7%
	35,281	Cadence Design Systems, Inc.(a)		6,574,614
	18,563	Synopsys, Inc.(a)		6,840,466
	11,035	Tyler Technologies, Inc.(a)		5,936,278
				19,351,358
		TECHNOLOGY SERVICES - 1.8%
	19,382	CACI International, Inc., Class A(a)		5,217,828
		TRANSPORTATION & LOGISTICS - 1.9%
	22,487	Union Pacific Corporation		5,665,150
		TRANSPORTATION EQUIPMENT - 1.7%
	54,561	Westinghouse Air Brake Technologies Corporation		5,025,614
		TOTAL COMMON STOCKS (Cost $147,168,959)		216,760,532
		EXCHANGE-TRADED FUNDS — 22.5%
		EQUITY - 22.5%
	573,000	Timothy Plan High Dividend Stock Enhanced ETF(b)		15,442,293
	442,500	Timothy Plan High Dividend Stock ETF(b)		14,381,648
	687,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF(b)		18,701,994
	435,000	Timothy Plan US Large/Mid Cap Core ETF(b)		16,847,072
		TOTAL EXCHANGE-TRADED FUNDS (Cost $54,728,199)		65,373,007

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 3.1%
		MONEY MARKET FUNDS - 3.1%
	9,064,906	Fidelity Government Portfolio, Class I, 0.01% (Cost $9,064,906)(c)	$	9,064,906
		TOTAL INVESTMENTS - 100.1% (Cost $210,962,064)	$	291,198,445
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(282,105	)
		NET ASSETS - 100.0%	$	290,916,340

ETF	- Exchange-Traded Fund
NV	- Naamioze Vennootschap
PLC	- Public Limited Company

^(a)  Non-income producing security.

^(b)  Affiliated Company.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Principal     Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 23.2%
		CHEMICALS — 2.3%
	1,212,000	LYB International Finance BV		4.0000		07/15/23	$	1,266,881
	1,570,000	Nutrien Ltd.		4.0000		12/15/26		1,719,779
								2,986,660
		ELECTRIC UTILITIES — 3.7%
	2,205,000	American Electric Power Company, Inc.		3.2000		11/13/27		2,332,520
	852,508	John Sevier Combined Cycle Generation, LLC		4.6260		01/15/42		1,040,575
	855,000	National Rural Utilities Cooperative Finance		2.9500		02/07/24		886,342
	442,000	WEC Energy Group, Inc.		3.5500		06/15/25		468,709
								4,728,146
		ELECTRICAL EQUIPMENT — 0.8%
	1,000,000	ABB Finance USA, Inc.		2.8750		05/08/22		1,008,134
		GAS & WATER UTILITIES — 1.8%
	2,185,000	NiSource, Inc.		3.4900		05/15/27		2,348,691
		INSTITUTIONAL FINANCIAL SERVICES — 0.9%
	1,000,000	Cboe Global Markets, Inc.		3.6500		01/12/27		1,088,698
		MACHINERY — 0.6%
	750,000	Eaton Corporation		2.7500		11/02/22		764,162
		OIL & GAS PRODUCERS — 5.9%
	1,580,000	Columbia Pipeline Group, Inc.		4.5000		06/01/25		1,706,129
	1,000,000	Enable Midstream Partners, L.P.		3.9000		05/15/24		1,044,998
	2,240,000	Phillips 66 Partners, L.P.		3.6050		02/15/25		2,361,048
	2,235,000	Sunoco Logistics Partners Operations, L.P.		4.2500		04/01/24		2,347,944
								7,460,119
		REAL ESTATE INVESTMENT TRUSTS — 3.2%
	1,520,000	Digital Realty Trust, L.P.		3.7000		08/15/27		1,649,550
	2,200,000	Healthpeak Properties, Inc.		3.5000		07/15/29		2,390,089
								4,039,639
		RETAIL - CONSUMER STAPLES — 1.4%
	1,575,000	Dollar General Corporation		4.1250		05/01/28		1,753,309

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 23.2% (Continued)
		TRANSPORTATION & LOGISTICS — 2.6%
	1,000,000	Canadian Pacific Railway Company		2.9000		02/01/25	$	1,041,283
	2,190,000	CSX Corporation		3.2500		06/01/27		2,351,652
								3,392,935
		TOTAL CORPORATE BONDS (Cost $28,658,255)						29,570,493
		NON U.S. GOVERNMENT & AGENCIES — 3.9%
		GOVERNMENT GUARANTEED — 0.7%
	865,000	Kreditanstalt fuer Wiederaufbau		2.1250		06/15/22		871,927
		LOCAL AUTHORITY — 2.5%
	2,235,000	Province of Ontario Canada		2.5000		04/27/26		2,341,317
	865,000	Province of Quebec Canada		2.3750		01/31/22		866,315
								3,207,632
		SUPRANATIONAL — 0.7%
	855,000	European Investment Bank		2.3750		06/15/22		863,062
		TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $4,915,861)						4,942,621
		U.S. GOVERNMENT & AGENCIES — 70.5%
		AGENCY FIXED RATE — 27.3%
	1,575,564	Fannie Mae Pool FM5537		2.0000		01/01/36		1,615,682
	1,239,930	Fannie Mae Pool MA4316		2.5000		04/01/36		1,290,555
	1,321,805	Fannie Mae Pool MA4329		2.0000		05/01/36		1,355,965
	1,671,882	Fannie Mae Pool MA4333		2.0000		05/01/41		1,700,159
	819,117	Fannie Mae Pool MA4366		2.5000		06/01/41		846,128
	480,171	Fannie Mae Pool MA4475		2.5000		10/01/41		496,149
	1,198,422	Fannie Mae Pool FM4053		2.5000		08/01/50		1,228,426
	1,556,339	Fannie Mae Pool CA8897		3.0000		02/01/51		1,639,325
	1,154,032	Fannie Mae Pool MA4258		3.5000		02/01/51		1,221,680

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		U.S. GOVERNMENT & AGENCIES — 70.5% (Continued)
		AGENCY FIXED RATE — 27.3% (Continued)
	510,100	Fannie Mae Pool FM6550		2.0000		03/01/51	$	511,329
	1,050,386	Fannie Mae Pool CB0855		3.0000		06/01/51		1,101,343
	909,839	Fannie Mae Pool CB0867		3.5000		06/01/51		966,442
	23,720	Ginnie Mae I Pool 723248		5.0000		10/15/39		27,510
	294,092	Ginnie Mae I Pool 783060		4.0000		08/15/40		317,982
	111,156	Ginnie Mae I Pool 783403		3.5000		09/15/41		118,826
	138,972	Ginnie Mae II Pool 4520		5.0000		08/20/39		157,128
	180,417	Ginnie Mae II Pool 4947		5.0000		02/20/41		203,994
	340,189	Ginnie Mae II Pool MA3376		3.5000		01/20/46		360,141
	217,273	Ginnie Mae II Pool MA3596		3.0000		04/20/46		226,804
	591,706	Ginnie Mae II Pool MA3663		3.5000		05/20/46		623,248
	214,745	Ginnie Mae II Pool MA3736		3.5000		06/20/46		226,297
	364,802	Ginnie Mae II Pool MA4004		3.5000		10/20/46		384,698
	241,421	Ginnie Mae II Pool MA4509		3.0000		06/20/47		252,431
	299,048	Ginnie Mae II Pool MA4652		3.5000		08/20/47		314,202
	374,056	Ginnie Mae II Pool MA4719		3.5000		09/20/47		394,200
	381,735	Ginnie Mae II Pool MA4778		3.5000		10/20/47		402,966
	309,629	Ginnie Mae II Pool MA4901		4.0000		12/20/47		330,209
	270,398	Ginnie Mae II Pool MA4963		4.0000		01/20/48		288,371
	275,500	Ginnie Mae II Pool MA6092		4.5000		08/20/49		291,239
	310,184	Ginnie Mae II Pool MA6156		4.5000		09/20/49		327,738
	763,486	Ginnie Mae II Pool BN2662		3.0000		10/20/49		791,926
	283,002	Ginnie Mae II Pool MA6221		4.5000		10/20/49		299,456
	286,268	Ginnie Mae II Pool MA6477		4.5000		02/20/50		303,274
	434,291	Ginnie Mae II Pool MA6478		5.0000		02/20/50		467,855
	456,148	Ginnie Mae II Pool MA6544		4.5000		03/20/50		481,434
	322,048	Ginnie Mae II Pool MA6545		5.0000		03/20/50		346,114
	421,138	Ginnie Mae II Pool MA6600		3.5000		04/20/50		439,509
	361,635	Ginnie Mae II Pool MA6601		4.0000		04/20/50		382,447
	348,047	Ginnie Mae II Pool MA6603		5.0000		04/20/50		374,059
	1,281,633	Ginnie Mae II Pool MA7255		2.5000		03/20/51		1,315,254
	682,822	Ginnie Mae II Pool MA7370		4.0000		05/20/51		719,692
	910,265	Ginnie Mae II Pool MA7418		2.5000		06/20/51		934,145
	1,667,017	Ginnie Mae II Pool MA7419		3.0000		06/20/51		1,727,948

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		U.S. GOVERNMENT & AGENCIES — 70.5% (Continued)
		AGENCY FIXED RATE — 27.3% (Continued)
	1,338,641	Ginnie Mae II Pool MA7472		2.5000		07/20/51	$	1,373,757
	1,465,069	Ginnie Mae II Pool CE1974		3.0000		08/20/51		1,533,916
	1,228,662	Ginnie Mae II Pool CE1990		2.5000		09/20/51		1,262,033
	1,500,436	Ginnie Mae II Pool MA7705		2.5000		11/20/51		1,539,797
	1,215,000	Ginnie Mae II Pool MA7768		3.0000		12/20/51		1,263,311
								34,777,094
		U.S. TREASURY BILLS — 20.2%
	6,875,000	United States Treasury Note		0.6250		07/31/26		6,689,429
	7,350,000	United States Treasury Note		1.2500		09/30/28		7,271,332
	8,925,000	United States Treasury Note		1.7500		08/15/41		8,683,745
	3,100,000	United States Treasury Note		2.0000		08/15/51		3,175,563
								25,820,069
		U.S. TREASURY NOTES — 23.0%
	7,520,000	United States Treasury Note		2.2500		11/15/24		7,799,063
	8,680,000	United States Treasury Note		2.0000		08/15/25		8,956,675
	12,920,000	United States Treasury Note		1.2500		08/15/31		12,650,497
								29,406,235
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $90,185,101)						90,003,398
Shares
		SHORT-TERM INVESTMENTS — 2.3%
		MONEY MARKET FUNDS - 2.3%
	2,922,158	Fidelity Government Portfolio, Class I, 0.01% (Cost $2,922,158)(a)						2,922,158
		TOTAL INVESTMENTS - 99.9% (Cost $126,681,375)					$	127,438,670
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%						153,533
		NET ASSETS - 100.0%					$	127,592,203

LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
REIT	- Real Estate Investment Trust

^(a)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares							Fair Value
		PREFERRED STOCKS — 0.3%
		INDUSTRIAL SUPPORT SERVICES - 0.3%
	17,500	WESCO International, Inc. - Series A					$	536,375
		TOTAL PREFERRED STOCKS (Cost $463,059)
Principal     Amount ($)			Coupon Rate (%)		Maturity
		CONVERTIBLE BONDS — 2.0%
		SPECIALTY FINANCE — 2.0%
	2,275,000	MGIC Investment Corporation(b)		9.0000		04/01/63		3,059,875
		TOTAL CONVERTIBLE BONDS (Cost $3,027,406)
		CORPORATE BONDS — 90.4%
		AEROSPACE & DEFENSE — 0.3%
	500,000	Spirit AeroSystems, Inc.(b)		5.5000		01/15/25		518,628
		ASSET MANAGEMENT — 1.5%
	250,000	Icahn Enterprises, L.P. / Icahn Enterprises		4.7500		09/15/24		259,704
	1,000,000	Icahn Enterprises, L.P. / Icahn Enterprises		6.2500		05/15/26		1,042,805
	1,000,000	Icahn Enterprises, L.P. / Icahn Enterprises		4.3750		02/01/29		976,515
								2,279,024
		AUTOMOTIVE — 2.1%
	500,000	Adient Global Holdings Ltd.(b)		4.8750		08/15/26		510,645
	522,000	Clarios Global, L.P. / Clarios US Finance Company(b)		6.2500		05/15/26		546,803
	1,000,000	Clarios Global, L.P. / Clarios US Finance Company(b)		8.5000		05/15/27		1,061,285
	1,000,000	Goodyear Tire & Rubber Company (The)		5.6250		04/30/33		1,092,710
								3,211,443
		BIOTECH & PHARMA — 3.0%
	250,000	Bausch Health Companies, Inc.(b)		5.0000		01/30/28		230,394
	750,000	Bausch Health Companies, Inc.(b)		4.8750		06/01/28		768,233
	125,000	Bausch Health Companies, Inc.(b)		5.0000		02/15/29		110,508
	1,000,000	Bausch Health Companies, Inc.(b)		5.2500		01/30/30		881,549
	50,000	Bausch Health Companies, Inc.(b)		5.2500		02/15/31		44,015

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		BIOTECH & PHARMA — 3.0% (Continued)
	2,500,000	Emergent BioSolutions, Inc.(b)			3.8750		08/15/28	$	2,403,212
	250,000	Jazz Securities DAC(b)			4.3750		01/15/29		259,293
									4,697,204
		CHEMICALS — 6.2%
	3,000,000	Chemours Company (The)(b)			4.6250		11/15/29		2,981,294
	1,500,000	Diamond BC BV(b)			4.6250		10/01/29		1,490,228
	1,500,000	Koppers, Inc.(b)			6.0000		02/15/25		1,527,795
	1,000,000	Olin Corporation			5.6250		08/01/29		1,084,790
	2,000,000	Polar US Borrower, LLC / Schenectady International(b)			6.7500		05/15/26		1,967,080
	500,000	WR Grace Holdings, LLC(b)			5.6250		08/15/29		513,125
									9,564,312
		COMMERCIAL SUPPORT SERVICES — 6.2%
	1,125,000	Allied Universal Holdco, LLC / Allied Universal(b)			4.6250		06/01/28		1,126,266
	125,000	Atlas LuxCompany 4 S.A.RL / Allied Universal(b)			4.6250		06/01/28		122,875
	2,000,000	Covanta Holding Corporation			5.0000		09/01/30		2,044,350
	1,000,000	Covert Mergeco, Inc.(b)			4.8750		12/01/29		1,016,520
	2,550,000	GFL Environmental Inc(b)			4.0000		08/01/28		2,503,321
	50,000	GFL Environmental, Inc.(b)			4.7500		06/15/29		50,514
	250,000	GFL Environmental, Inc.(b)			4.3750		08/15/29		248,035
	500,000	Sotheby’s/Bidfair Holdings, Inc.(b)			5.8750		06/01/29		510,710
	2,200,000	Waste Pro USA, Inc.(b)			5.5000		02/15/26		2,191,288
									9,813,879
		CONSTRUCTION MATERIALS — 0.8%
	250,000	Cemex S.A.B. de C.V.(b)			3.8750		07/11/31		249,479
	1,000,000	Standard Industries, Inc.(b)			5.0000		02/15/27		1,030,635
									1,280,114
		CONSUMER SERVICES — 2.3%
	2,000,000	PROG Holdings, Inc.(b)			6.0000		11/15/29		2,060,760
	1,500,000	Rent-A-Center, Inc.(b)			6.3750		02/15/29		1,565,880
									3,626,640
		CONTAINERS & PACKAGING — 5.0%
	1,750,000	Canpack S.A. / Canpack US, LLC(b)			3.8750		11/15/29		1,711,088
	1,000,000	Graham Packaging Company, Inc.(b)			7.1250		08/15/28		1,036,500
	500,000	Graphic Packaging International, LLC(b)			3.7500		02/01/30		506,068

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		CONTAINERS & PACKAGING — 5.0% (Continued)
	1,250,000	LABL, Inc.(b)				5.8750		11/01/28	$	1,290,625
	750,000	LABL, Inc.(b)				8.2500		11/01/29		755,569
	1,250,000	Pactiv Evergreen Group Issuer, LLC / Pactiv(b)				4.3750		10/15/28		1,242,519
	1,250,000	TriMas Corporation(b)				4.1250		04/15/29		1,254,975
										7,797,344
		ELECTRIC UTILITIES — 1.6%
	250,000	NRG Energy Inc(b)				3.3750		02/15/29		245,334
	250,000	NRG Energy Inc(b)				3.6250		02/15/31		244,178
	1,000,000	Vistra Corporation(a),(b)		H15T5Y + 5.740%		7.0000		06/15/70		1,014,594
	750,000	Vistra Operations Company, LLC(b)				5.6250		02/15/27		773,449
	250,000	Vistra Operations Company, LLC(b)				4.3750		05/01/29		250,911
										2,528,466
		ELECTRICAL EQUIPMENT — 0.7%
	500,000	BWX Technologies, Inc.(b)				4.1250		06/30/28		508,217
	500,000	BWX Technologies, Inc.(b)				4.1250		04/15/29		506,968
										1,015,185
		ENGINEERING & CONSTRUCTION — 1.1%
	1,694,000	Dycom Industries, Inc.(b)				4.5000		04/15/29		1,728,591
		FORESTRY, PAPER & WOOD PRODUCTS — 1.1%
	1,750,000	Mercer International, Inc.				5.1250		02/01/29		1,790,355
		GAS & WATER UTILITIES — 0.7%
	1,000,000	Suburban Propane Partners, L.P./Suburban Energy				5.8750		03/01/27		1,035,905
		HEALTH CARE FACILITIES & SERVICES — 3.8%
	1,391,000	Ardent Health Services, Inc.(b)				5.7500		07/15/29		1,380,845
	500,000	Catalent Pharma Solutions, Inc.(b)				3.1250		02/15/29		493,918
	750,000	Legacy LifePoint Health, LLC(b)				4.3750		02/15/27		756,428
	250,000	LifePoint Health, Inc.(b)				5.3750		01/15/29		249,110
	100,000	Option Care Health, Inc.(b)				4.3750		10/31/29		100,403
	1,000,000	Tenet Healthcare Corporation(b)				6.2500		02/01/27		1,036,355
	500,000	Tenet Healthcare Corporation(b)				4.3750		01/15/30		507,233

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		HEALTH CARE FACILITIES & SERVICES — 3.8% (Continued)
	1,185,000	Vizient, Inc.(b)			6.2500		05/15/27	$	1,238,028
									5,762,320
		HOME & OFFICE PRODUCTS — 0.6%
	500,000	Scotts Miracle-Gro Company (The)(b)			4.0000		04/01/31		494,488
	500,000	Scotts Miracle-Gro Company (The)(b)			4.3750		02/01/32		499,507
									993,995
		HOME CONSTRUCTION — 5.2%
	500,000	Ashton Woods USA, LLC / Ashton Woods Finance(b)			6.6250		01/15/28		529,260
	1,500,000	Ashton Woods USA, LLC / Ashton Woods Finance(b)			4.6250		08/01/29		1,483,523
	1,250,000	Ashton Woods USA, LLC / Ashton Woods Finance(b)			4.6250		04/01/30		1,230,019
	2,542,000	Interface Inc.(b)			5.5000		12/01/28		2,666,493
	1,500,000	STL Holding Company, LLC(b)			7.5000		02/15/26		1,586,250
	500,000	Weekley Homes, LLC / Weekley Finance Corporation(b)			4.8750		09/15/28		515,755
									8,011,300
		INDUSTRIAL INTERMEDIATE PROD — 0.1%
	125,000	Roller Bearing Company of America, Inc.(b)			4.3750		10/15/29		127,656
		INDUSTRIAL SUPPORT SERVICES — 0.2%
	250,000	BCPE Empire Holdings, Inc.(b)			7.6250		05/01/27		255,518
		INSTITUTIONAL FINANCIAL SERVICES — 1.4%
	1,750,000	LPL Holdings, Inc.(b)			4.0000		03/15/29		1,794,476
	500,000	LPL Holdings, Inc.(b)			4.3750		05/15/31		511,988
									2,306,464
		LEISURE FACILITIES & SERVICES — 0.3%
	500,000	Papa John’s International, Inc.(b)			3.8750		09/15/29		498,238
		LEISURE PRODUCTS — 0.3%
	500,000	Vista Outdoor, Inc.(b)			4.5000		03/15/29		503,883
		MACHINERY — 0.4%
	250,000	Madison IAQ, LLC(b)			4.1250		06/30/28		250,994
	375,000	OT Merger Corporation(b)			7.8750		10/15/29		369,433
									620,427

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		MEDICAL EQUIPMENT & DEVICES — 0.6%
	500,000	Mozart Debt Merger Sub, Inc.(b)				3.8750		04/01/29	$	499,235
	500,000	Mozart Debt Merger Sub, Inc.(b)				5.2500		10/01/29		507,860
										1,007,095
		METALS & MINING — 1.2%
	1,000,000	Compass Minerals International, Inc.(b)				6.7500		12/01/27		1,060,245
	750,000	Kaiser Aluminum Corporation(b)				4.5000		06/01/31		738,949
										1,799,194
		OIL & GAS PRODUCERS — 10.0%
	1,500,000	Colgate Energy Partners III, LLC(b)				5.8750		07/01/29		1,547,130
	1,572,000	CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC(b)				5.5000		06/15/31		1,643,243
	250,000	Crestwood Midstream Partners, L.P. / Crestwood				5.7500		04/01/25		255,875
	1,500,000	Crestwood Midstream Partners, L.P. / Crestwood(b)				5.6250		05/01/27		1,529,625
	500,000	DCP Midstream Operating, L.P.(a),(b)		ICE LIBOR USD 3 Month + 3.850%		5.8500		05/21/43		487,085
	250,000	DT Midstream, Inc.(b)				4.1250		06/15/29		256,354
	750,000	DT Midstream, Inc.(b)				4.3750		06/15/31		781,155
	500,000	Genesis Energy, L.P. / Genesis Energy Finance				7.7500		02/01/28		504,458
	1,000,000	Global Partners, L.P. / GLP Finance Corporation				7.0000		08/01/27		1,038,500
	125,000	Howard Midstream Energy Partners, LLC(b)				6.7500		01/15/27		128,241
	1,000,000	ITT Holdings, LLC(b)				6.5000		08/01/29		991,640
	2,000,000	Midwest Connector Capital Company, LLC(b)				4.6250		04/01/29		2,158,991
	1,000,000	NuStar Logistics, L.P. B				5.6250		04/28/27		1,058,500
	1,000,000	PBF Holding Company, LLC / PBF Finance Corporation(b)				9.2500		05/15/25		952,355
	775,000	PBF Holding Company, LLC / PBF Finance Corporation				7.2500		06/15/25		550,048
	500,000	PBF Holding Company, LLC / PBF Finance Corporation				6.0000		02/15/28		321,978
	1,250,000	Targa Resources Partners, L.P. / Targa Resources				5.5000		03/01/30		1,367,725
										15,572,903
		PUBLISHING & BROADCASTING — 1.8%
	500,000	Gray Escrow II, Inc.(b)				5.3750		11/15/31		515,273
	500,000	Gray Television, Inc.(b)				7.0000		05/15/27		534,920
	1,750,000	Gray Television, Inc.(b)				4.7500		10/15/30		1,742,046
										2,792,239
		REAL ESTATE INVESTMENT TRUSTS — 4.2%
	1,000,000	Diversified Healthcare Trust				9.7500		06/15/25		1,083,215

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		REAL ESTATE INVESTMENT TRUSTS — 4.2% (Continued)
	2,125,000	GEO Group, Inc. (The)				5.1250		04/01/23	$	2,026,347
	1,500,000	iStar, Inc.				5.5000		02/15/26		1,554,180
	1,250,000	Service Properties Trust				7.5000		09/15/25		1,355,837
	500,000	Service Properties Trust				5.5000		12/15/27		513,860
										6,533,439
		REAL ESTATE OWNERS & DEVELOPERS — 2.4%
	3,749,000	Howard Hughes Corporation (The)(b)				4.3750		02/01/31		3,792,039
		RETAIL - CONSUMER STAPLES — 0.1%
	100,000	Ingles Markets, Inc.(b)				4.0000		06/15/31		100,894
		RETAIL - DISCRETIONARY — 2.7%
	1,550,000	Beacon Roofing Supply, Inc.(b)				4.1250		05/15/29		1,551,526
	500,000	Ken Garff Automotive, LLC(b)				4.8750		09/15/28		501,385
	250,000	Lithia Motors, Inc.(b)				3.8750		06/01/29		255,631
	500,000	Lithia Motors, Inc.(b)				4.3750		01/15/31		534,468
	1,300,000	Sonic Automotive, Inc.(b)				4.8750		11/15/31		1,314,567
										4,157,577
		SOFTWARE — 1.3%
	1,000,000	Crowdstrike Holdings, Inc.				3.0000		02/15/29		989,055
	1,000,000	Twilio, Inc.				3.6250		03/15/29		1,010,390
										1,999,445
		SPECIALTY FINANCE — 14.4%
	500,000	AerCap Global Aviation Trust(a),(b)		ICE LIBOR USD 3 Month + 4.300%		6.5000		06/15/45		540,713
	3,000,000	Air Lease Corporation(a)		H15T5Y + 4.076%		4.6500		06/15/70		3,116,249
	1,000,000	Alliance Data Systems Corp.(b)				7.0000		01/15/26		1,051,095
	2,500,000	Burford Capital Global Finance, LLC(b)				6.2500		04/15/28		2,659,899
	115,000	Freedom Mortgage Corporation(b)				8.1250		11/15/24		116,557
	786,000	Freedom Mortgage Corporation(b)				8.2500		04/15/25		805,485
	500,000	Freedom Mortgage Corporation(b)				7.6250		05/01/26		511,150
	1,000,000	Freedom Mortgage Corporation(b)				6.6250		01/15/27		978,540
	2,955,000	ILFC E-Capital Trust I(a),(b)		N/A + 1.550%		3.3700		12/21/65		2,438,555
	1,500,000	ILFC E-Capital Trust II(a),(b)		N/A + 1.800%		3.6200		12/21/65		1,286,250

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		SPECIALTY FINANCE — 14.4% (Continued)
	750,000	Ladder Capital Finance Holdings LLLP / Ladder(b)			4.2500		02/01/27	$	755,753
	1,700,000	LFS Topco, LLC(b)			5.8750		10/15/26		1,757,018
	1,000,000	MGIC Investment Corporation			5.2500		08/15/28		1,051,415
	500,000	Nationstar Mortgage Holdings, Inc. Series 144A(b)			6.0000		01/15/27		521,398
	750,000	Nationstar Mortgage Holdings, Inc.(b)			5.5000		08/15/28		766,133
	750,000	Nationstar Mortgage Holdings, Inc.(b)			5.7500		11/15/31		747,304
	300,000	Navient Corporation			7.2500		09/25/23		323,550
	3,000,000	New Residential Investment Corporation(b)			6.2500		10/15/25		3,016,409
	125,000	PHH Mortgage Corporation(b)			7.8750		03/15/26		129,369
									22,572,842
		STEEL — 2.1%
	1,500,000	Allegheny Technologies, Inc.			5.1250		10/01/31		1,513,410
	1,759,000	TMS International Corporation(b)			6.2500		04/15/29		1,752,676
									3,266,086
		TECHNOLOGY HARDWARE — 1.5%
	1,000,000	CommScope, Inc.(b)			8.2500		03/01/27		1,028,070
	750,000	CommScope, Inc.(b)			7.1250		07/01/28		737,936
	500,000	TTM Technologies, Inc.(b)			4.0000		03/01/29		497,633
									2,263,639
		TECHNOLOGY SERVICES — 0.8%
	260,000	Fair Isaac Corporation(b)			4.0000		06/15/28		267,613
	250,000	HealthEquity, Inc.(b)			4.5000		10/01/29		247,813
	500,000	MSCI, Inc.(b)			3.6250		11/01/31		519,467
	250,000	MSCI, Inc.(b)			3.2500		08/15/33		253,201
									1,288,094
		TRANSPORTATION & LOGISTICS — 0.8%
	1,250,000	First Student Bidco, Inc. / First Transit Parent,(b)			4.0000		07/31/29		1,216,894
		TRANSPORTATION EQUIPMENT — 0.4%
	500,000	Trinity Industries, Inc.			4.5500		10/01/24		524,555
	125,000	Wabash National Corporation(b)			4.5000		10/15/28		126,406
									650,961
		WHOLESALE - CONSUMER STAPLES — 1.2%
	1,500,000	United Natural Foods, Inc.(b)			6.7500		10/15/28		1,608,412

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal     Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 90.4% (Continued)
		WHOLESALE - CONSUMER STAPLES — 1.2% (Continued)
	295,000	US Foods, Inc.(b)		4.6250		06/01/30	$	298,437
								1,906,849
		TOTAL CORPORATE BONDS (Cost $137,972,607)						140,887,081
Shares
		SHORT-TERM INVESTMENTS — 6.0%
		MONEY MARKET FUNDS - 6.0%
	9,359,328	Fidelity Government Portfolio, CLASS I, 0.01% (Cost $9,359,328)(c)						9,359,328
		TOTAL INVESTMENTS - 98.7% (Cost $150,822,400)					$	153,842,659
		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.3%						2,066,850
		NET ASSETS - 100.0%					$	155,909,509

LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
MSCI	- Morgan Stanley Capital International
REIT	- Real Estate Investment Trust
H15T5Y	US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
ICE LIBOR USD 3
Month	ICE LIBOR USD 3 Month

^(a)  Variable rate security; the rate shown represents the rate on December 31, 2021.

^(b)  Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2021 the total market value of 144A securities is 114,460,675 or 73.4% of net assets.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		CLOSED END FUNDS — 4.5%
		COMMODITY - 4.5%
	369,000	Sprott Physical Silver Trust(a)	$	2,959,380
		TOTAL CLOSED END FUNDS (Cost $3,475,241)
		COMMON STOCKS — 43.6%
		AEROSPACE & DEFENSE - 0.2%
	4,499	Suez S.A.		101,353
		AUTOMOTIVE - 0.1%
	2,400	NGK Insulators Ltd.		40,516
		CHEMICALS - 2.9%
	5,103	CF Industries Holdings, Inc.		361,190
	1,297	Chemours Company (The)		43,527
	6,651	Corteva, Inc.		314,459
	1,605	FMC Corporation		176,373
	3,251	K+S A.G.(a)		56,140
	6,226	Mosaic Company (The)		244,620
	6,826	Nutrien Ltd.		513,315
	682	OCI N.V.(a)		17,854
	1,463	Sasol Ltd. - ADR(a)		23,993
	3,679	Sociedad Quimica y Minera de Chile S.A. - ADR		185,532
				1,937,003
		CONSTRUCTION MATERIALS - 0.2%
	3,200	AGC, Inc.		152,560
		DIVERSIFIED INDUSTRIALS - 0.1%
	638	Pentair plc		46,593
		ELECTRIC UTILITIES - 0.2%
	865	Neoen S.A.(a)		37,537
	503	Ormat Technologies, Inc.		39,888

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		ELECTRIC UTILITIES - 0.2% (Continued)
	1,700	RENOVA, Inc.(a)	$	30,736
				108,161
		ELECTRICAL EQUIPMENT - 0.1%
	237	Watts Water Technologies, Inc., Class A		46,018
		FOOD - 0.9%
	428	Bakkafrost P/F		28,325
	1,762	Beyond Meat, Inc.(a)		114,812
	8,982	BRF S.A. - ADR(a)		36,736
	545	Cal-Maine Foods, Inc.		20,160
	948	Darling Ingredients, Inc.(a)		65,687
	1,365	Ingredion, Inc.		131,913
	1,100	Maple Leaf Foods, Inc.		25,481
	600	Morinaga Milk Industry Company Ltd.		28,449
	4,700	Nippon Suisan Kaisha Ltd.		22,162
	1,279	Pilgrim’s Pride Corporation(a)		36,068
	554	Sanderson Farms, Inc.		105,858
				615,651
		FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
	600	Canfor Corporation(a)		15,229
	3,200	Sumitomo Forestry Company Ltd		61,857
				77,086
		GAS & WATER UTILITIES - 1.0%
	403	American States Water Company		41,686
	671	American Water Works Company, Inc.		126,725
	437	California Water Service Group		31,403
	5,672	Cia de Saneamento Basico do Estado de Sao Paulo - ADR		41,632
	539	Essential Utilities, Inc.		28,939
	885	Pennon Group plc		13,989
	1,154	Severn Trent plc		46,063
	1,944	United Utilities Group plc		28,674
	8,059	Veolia Environnement S.A.		295,653
				654,764

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 0.4%
	48,754	Brookdale Senior Living, Inc.(a)	$	251,571
		INTERNET MEDIA & SERVICES - 0.0%(b)
	944	PhosAgro PJSC - ADR		20,372
		MACHINERY - 1.3%
	1,078	AGCO Corporation		125,070
	7,592	CNH Industrial N.V.		147,513
	1,028	Deere & Company		352,491
	291	Evoqua Water Technologies Corporation(a)		13,604
	11,700	Kubota Corporation		259,441
	700	Kurita Water Industries Ltd.		33,190
				931,309
		METALS & MINING - 5.1%
	1,501	Agnico Eagle Mines Ltd.		79,763
	8,525	Alamos Gold, Inc., Class A		65,557
	2,243	Anglo American plc		91,627
	2,708	AngloGold Ashanti Ltd. - ADR		56,814
	1,391	Antofagasta plc		25,218
	47,220	B2Gold Corporation		185,576
	2,748	BHP Group Ltd. - ADR		165,842
	234	BHP Group plc - ADR		13,986
	2,352	Cameco Corporation		51,297
	3,247	Cia de Minas Buenaventura S.A.A - ADR(a)		23,768
	964	Cleveland-Cliffs, Inc.(a)		20,986
	413	Compass Minerals International, Inc.		21,096
	3,700	Endeavour Mining plc		81,226
	6,434	First Majestic Silver Corporation		71,482
	2,600	First Quantum Minerals Ltd.		62,306
	542	Franco-Nevada Corporation		74,953
	5,447	Freeport-McMoRan, Inc.		227,304
	8,858	Gold Fields Ltd. - ADR		97,349
	14,688	Hecla Mining Company		76,671
	2,400	Hudbay Minerals, Inc.		17,404

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		METALS & MINING - 5.1% (Continued)
	9,500	Ivanhoe Mines Ltd.(a)	$	77,615
	21,177	Kinross Gold Corporation		123,038
	4,202	Kirkland Lake Gold Ltd.		176,343
	1,334	Lithium Americas Corporation(a)		38,846
	3,123	Livent Corporation(a)		76,139
	10,100	Lundin Mining Corporation		78,999
	619	MMC Norilsk Nickel PJSC - ADR		19,146
	4,743	Newmont Corporation		294,162
	3,416	Pan American Silver Corporation		85,298
	3,028	Rio Tinto plc - ADR		202,694
	730	Royal Gold, Inc.		76,803
	1,144	Southern Copper Corporation		70,596
	5,543	SSR Mining, Inc.		98,111
	2,300	Sumitomo Metal Mining Company Ltd.		86,883
	2,143	Teck Resources Ltd., Class B		61,805
	3,323	Turquoise Hill Resources Ltd.(a)		54,663
	10,403	Vale S.A. - ADR		145,850
	98	Wheaton Precious Metals Corporation		4,207
	8,737	Yamana Gold, Inc.		36,870
				3,318,293
		OIL & GAS PRODUCERS - 5.5%
	4,673	APA Corporation		125,657
	8,400	ARC Resources Ltd.		76,475
	4,770	Canadian Natural Resources Ltd.		201,533
	1,701	CNX Resources Corporation(a)		23,389
	3,626	ConocoPhillips		261,724
	4,251	Continental Resources, Inc.		190,275
	6,670	Coterra Energy, Inc.		126,730
	24,600	Crescent Point Energy Corporation		131,457
	475	Devon Energy Corporation		20,924
	2,248	Diamondback Energy, Inc.		242,446
	1,026	Ecopetrol S.A. - ADR		13,225
	3,217	EOG Resources, Inc.		285,765
	127	EQT Corporation(a)		2,770

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		OIL & GAS PRODUCERS - 5.5% (Continued)
	24,000	Inpex Corporation	$	208,832
	2,222	LUKOIL PJSC - ADR		198,870
	1,380	Magnolia Oil & Gas Corporation		26,041
	6,109	Marathon Oil Corporation		100,310
	2,468	Matador Resources Company		91,119
	306	Novatek PJSC - ADR		71,665
	7,365	Occidental Petroleum Corporation		213,511
	1,141	Ovintiv, Inc.		38,452
	2,800	Parex Resources, Inc.(a)		47,902
	2,370	PDC Energy, Inc.		115,609
	3,018	Petroleo Brasileiro S.A. - ADR		33,138
	927	Pioneer Natural Resources Company		168,603
	2,695	Range Resources Corporation(a)		48,052
	8,242	Rosneft Oil Company PJSC - ADR		66,282
	312	SM Energy Company		9,198
	9,131	Southwestern Energy Company(a)		42,550
	7,600	Suncor Energy, Inc.		190,429
	5,400	Tourmaline Oil Corporation		174,592
				3,547,525
		OIL & GAS SERVICES & EQUIPMENT - 0.8%
	1,046	Baker Hughes Company		25,167
	2,561	ChampionX Corporation(a)		51,758
	6,953	Halliburton Company		159,015
	3,172	Helmerich & Payne, Inc.		75,176
	2,874	NOV, Inc.		38,943
	3,391	Patterson-UTI Energy, Inc.		28,654
	4,683	Schlumberger N.V.		140,256
	733	TechnipFMC plc(a)		4,363
	5,132	TechnipFMC plc(a)		30,381
				553,713
		REAL ESTATE INVESTMENT TRUSTS - 22.1%
	12,800	Alexander & Baldwin, Inc.		321,152
	10,000	American Assets Trust, Inc.		375,300
	6,000	American Campus Communities, Inc.		343,740

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		REAL ESTATE INVESTMENT TRUSTS - 22.1% (Continued)
	13,000	American Homes 4 Rent, Class A	$	566,930
	2,000	American Tower Corporation		585,000
	12,000	Americold Realty Trust		393,480
	18,500	Armada Hoffler Properties, Inc.		281,570
	1,700	AvalonBay Communities, Inc.		429,403
	3,200	Camden Property Trust		571,776
	10,000	Cousins Properties, Inc.		402,800
	4,500	Crown Castle International Corporation		939,330
	4,900	CTO Realty Growth, Inc.		300,958
	1,200	Equinix, Inc.		1,015,008
	875	Essex Property Trust, Inc.		308,201
	12,700	Getty Realty Corporation		407,543
	7,800	Healthcare Realty Trust, Inc.		246,792
	13,000	InvenTrust Properties Corporation		354,380
	12,700	Invitation Homes, Inc.		575,818
	2,800	Life Storage, Inc.		428,904
	11,000	Plymouth Industrial REIT, Inc.		352,000
	2,332	PotlatchDeltic Corporation		140,433
	7,300	Prologis, Inc.		1,229,028
	1,575	Public Storage		589,932
	690	Rayonier, Inc.		27,848
	25,000	Sabra Health Care REIT, Inc.		338,500
	2,250	SBA Communications Corporation		875,295
	20,000	SITE Centers Corporation		316,600
	1,730	Sun Communities, Inc.		363,248
	12,200	Ventas, Inc.		623,664
	7,900	Welltower, Inc.		677,583
	1,726	Weyerhaeuser Company		71,077
				14,453,293
		RENEWABLE ENERGY - 1.1%
	3,523	Array Technologies, Inc.(a)		55,276
	975	Atlantica Sustainable Infrastructure plc		34,866
	6,515	Ballard Power Systems, Inc.(a)		81,828
	3,048	Daqo New Energy Corporation - ADR(a)		122,895

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 43.6% (Continued)
		RENEWABLE ENERGY - 1.1% (Continued)
	501	Enphase Energy, INC.(a)	$	91,654
	438	First Solar, Inc.(a)		38,176
	1,733	Green Plains, Inc.(a)		60,239
	1,300	GS Yuasa Corporation		28,878
	1,754	Plug Power, Inc.(a)		49,515
	1,877	Renewable Energy Group, Inc.(a)		79,660
	183	SolarEdge Technologies, Inc.(a)		51,344
	259	Varta A.G.		33,724
				728,055
		STEEL - 0.9%
	1,575	ArcelorMittal S.A. - ADR		50,132
	12,813	Cia Siderurgica Nacional S.A. - ADR		56,890
	15,931	Gerdau S.A. - ADR		78,381
	2,300	Hitachi Metals Ltd.(a)		42,563
	3,900	JFE Holdings, Inc.		49,683
	3,100	Kobe Steel Ltd.		15,533
	6,400	Nippon Steel Corporation		104,402
	475	Novolipetskiy Metallurgicheskiy Kombinat PAO - ADR		14,022
	782	Severstal PAO - ADR		16,844
	1,979	Ternium S.A. - ADR		86,126
	2,893	United States Steel Corporation		68,882
				583,458
		TELECOMMUNICATIONS - 0.3%
	7,020	Switch, Inc., Class A		201,053
		WHOLESALE - CONSUMER STAPLES - 0.3%
	1,862	Bunge Ltd.		173,836
		TOTAL COMMON STOCKS (Cost $22,839,480)		28,542,183

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 1.7%
		SPECIALTY - 1.7%
	56,000	Invesco DB US Dollar Index Bearish Fund(a)	$	1,133,440
		TOTAL EXCHANGE-TRADED FUNDS (Cost $1,207,768)
		PRECIOUS METALS - PHYSICAL HOLDING — 17.1%
		PRECIOUS METAL - 17.1%
	6,143	GOLD BARS (a)		11,235,690
		TOTAL PRECIOUS METALS - PHYSICAL HOLDING (Cost $7,240,876)

Principal			Coupon Rate
Amount ($)			(%)		Maturity
		U.S. GOVERNMENT & AGENCIES — 26.3%
		U.S. TREASURY INFLATION PROTECTED — 26.3%
	975,000	United States Treasury Inflation Indexed Bonds		0.6250		01/15/24		1,230,284
	700,000	United States Treasury Inflation Indexed Bonds		2.3750		01/15/25		1,170,163
	645,000	United States Treasury Inflation Indexed Bonds		2.0000		01/15/26		1,040,606
	805,000	United States Treasury Inflation Indexed Bonds		2.3750		01/15/27		1,334,364
	1,495,000	United States Treasury Inflation Indexed Bonds		0.5000		01/15/28		1,877,338
	1,250,000	United States Treasury Inflation Indexed Bonds		1.7500		01/15/28		1,981,447
	1,800,000	United States Treasury Inflation Indexed Bonds		0.8750		01/15/29		2,282,356
	1,200,000	United States Treasury Inflation Indexed Bonds		2.5000		01/15/29		1,978,113
	2,160,000	United States Treasury Inflation Indexed Bonds		0.1250		01/15/31		2,572,975
	880,000	United States Treasury Inflation Indexed Bonds		2.1250		02/15/41		1,723,998
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $16,117,929)						17,191,644
Shares
		SHORT-TERM INVESTMENTS — 6.7%
	4,425,608	Fidelity Government Portfolio, Class I, 0.01% (Cost $4,425,608)( c)						4,425,608
		TOTAL INVESTMENTS - 99.9% (Cost $55,306,902)					$	65,487,945
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%						92,168
		NET ASSETS - 100.0%					$	65,580,113

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

ADR	- American Depositary Receipt
LTD	- Limited Company
NV	- Naamioze Vennootschap
PJSC	- Public Joint-Stock Company
PLC	- Public Limited Company
REIT	- Real Estate Investment Trust
S.Aa	- Société Anonyme

^(a) Non-income producing security.

^(b)  Percentage rounds to less than 0.1%.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN STRATEGIC GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 57.1%
		EQUITY - 57.1%
	136,300	Timothy Plan High Dividend Stock Enhanced ETF(a)	$	3,673,271
	313,661	Timothy Plan International ETF(a)		9,130,672
	277,700	Timothy Plan US Large/Mid Cap Core Enhanced ETF(a)		7,559,744
	108,531	Timothy Plan US Small Cap Core ETF(a)		3,856,910
		TOTAL EXCHANGE-TRADED FUNDS (Cost $20,936,865)		24,220,597
		OPEN END FUNDS — 40.4%
		EQUITY - 7.9%
	262,008	Timothy Plan International Fund, Class A(a)		3,364,177
		FIXED INCOME - 23.4%
	707,820	Timothy Plan Fixed Income Fund, Class A(a)		7,354,249
	258,262	Timothy Plan High Yield Bond Fund, Class A(a)		2,538,714
				9,892,963
		MIXED ALLOCATION - 9.1%
	271,374	Timothy Plan Defensive Strategies Fund, Class A(a)		3,845,368
		TOTAL OPEN END FUNDS (Cost $15,778,605)		17,102,508
		SHORT-TERM INVESTMENTS — 2.5%
		MONEY MARKET FUNDS - 2.5%
	1,043,984	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,043,984)(b)		1,043,984
		TOTAL INVESTMENTS - 100.0% (Cost $37,759,454)	$	42,367,089
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(20,537	)
		NET ASSETS - 100.0%	$	42,346,552

ETF - Exchange-Traded Fund

^(a)  Affiliated Company

^(b)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN CONSERVATIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 39.5%
		EQUITY - 39.5%
	90,800	Timothy Plan High Dividend Stock Enhanced ETF(a)	$	2,447,051
	229,444	Timothy Plan International ETF(a)		6,679,115
	299,400	Timothy Plan US Large/Mid Cap Core Enhanced ETF(a)		8,150,476
	106,123	Timothy Plan US Small Cap Core ETF(a)		3,771,336
		TOTAL EXCHANGE-TRADED FUNDS (Cost $18,163,848)		21,047,978
		OPEN END FUNDS — 57.3%
		EQUITY - 5.5%
	226,576	Timothy Plan International Fund, Class A(a)		2,909,242
		FIXED INCOME - 44.7%
	1,958,684	Timothy Plan Fixed Income Fund, Class A(a)		20,350,722
	351,919	Timothy Plan High Yield Bond Fund, Class A(a)		3,459,366
				23,810,088
		MIXED ALLOCATION - 7.1%
	265,491	Timothy Plan Defensive Strategies Fund, Class A(a)		3,762,013
		TOTAL OPEN END FUNDS (Cost $28,996,488)		30,481,343
		SHORT-TERM INVESTMENTS — 3.3%
		MONEY MARKET FUNDS - 3.3%
	1,732,940	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,732,940)(b)		1,732,940
		TOTAL INVESTMENTS - 100.1% (Cost $48,893,276)	$	53,262,261
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(32,495	)
		NET ASSETS - 100.0%	$	53,229,766

ETF - Exchange-Traded Fund

^(a)  Affiliated Company

^(b)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.0%
		ADVERTISING & MARKETING - 0.3%
	26,000	Tremor International Ltd. - ADR(a)	$	393,900
		AEROSPACE & DEFENSE - 2.5%
	18,001	Elbit Systems Ltd.		3,134,514
	31,000	RADA Electronic Industries Ltd.(a)		292,020
				3,426,534
		APPAREL & TEXTILE PRODUCTS - 4.0%
	24,063	Delta Galil Industries Ltd.		1,654,505
	21,392	Fox Wizel Ltd.		3,848,278
				5,502,783
		BANKING - 16.9%
	112,000	Bank Hapoalim BM - ADR		5,688,480
	629,000	Bank Leumi Le-Israel BM		6,760,072
	58,300	First International Bank Of Israel Ltd.		2,425,733
	602,000	Israel Discount Bank Ltd., Class A		4,050,212
	105,000	Mizrahi Tefahot Bank Ltd.		4,048,323
				22,972,820
		BIOTECH & PHARMA - 0.9%
	490,000	Enlight Renewable Energy Ltd.(a)		1,205,006
		CHEMICALS - 2.3%
	319,902	ICL Group Ltd.		3,093,452
		CONSTRUCTION MATERIALS - 0.6%
	178,000	Inrom Construction Industries Ltd.		881,879
		E-COMMERCE DISCRETIONARY - 0.9%
	20,100	Global-e Online Ltd.(a)		1,274,139
		ELECTRIC UTILITIES - 1.8%
	31,700	Ormat Technologies, Inc.		2,513,839

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.0% (Continued)
		FOOD - 1.2%
	50,500	Strauss Group Ltd.	$	1,573,866
		HEALTH CARE FACILITIES & SERVICES - 3.2%
	12,769	Danel Adir Yeoshua Ltd.		2,888,246
	1,575,013	Novolog Ltd.		1,502,446
				4,390,692
		HOME & OFFICE PRODUCTS - 2.1%
	116,585	Maytronics Ltd.		2,876,792
		INSTITUTIONAL FINANCIAL SERVICES - 1.8%
	453,685	Tel Aviv Stock Exchange Ltd.		2,447,427
		INSURANCE - 4.9%
	184,000	Harel Insurance Investments & Financial Services		2,089,243
	1,230,000	Migdal Insurance & Financial Holdings Ltd.		2,027,737
	200,400	Phoenix Holdings Ltd. (The)(b)		2,590,314
				6,707,294
		INTERNET MEDIA & SERVICES - 1.4%
	11,600	Fiverr International Ltd.(a)		1,318,920
	31,100	SimilarWeb Ltd.(a)		557,001
				1,875,921
		LEISURE FACILITIES & SERVICES - 1.2%
	15,800	Fattal Holdings 1998 Ltd.(a)		1,595,026
		MEDICAL EQUIPMENT & DEVICES - 0.8%
	8,600	Inmode Ltd.(a)		606,988
	7,100	Novocure Ltd.(a)		533,068
				1,140,056
		OIL & GAS PRODUCERS - 4.5%
	62,968	Energean plc(a)		729,204
	60,000	Energean plc(a)		709,999
	5,600	Israel Corp Ltd. (The)(a)		2,419,997
	2,000,000	Oil Refineries Ltd.(a)		574,476
	7,000	Paz Oil Company Ltd.(a)		869,715

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.0% (Continued)
		OIL & GAS PRODUCERS - 4.5% (Continued)
	1,425,000	Ratio Oil Exploration 1992, L.P.(a)	$	772,386
				6,075,777
		REAL ESTATE INVESTMENT TRUSTS - 1.5%
	284,000	Reit 1 Ltd.		2,027,529
		REAL ESTATE OWNERS & DEVELOPERS - 12.5%
	125,000	Alony Hetz Properties & Investments Ltd.		2,326,581
	176,000	Amot Investments Ltd.		1,429,533
	31,000	Azrieli Group Ltd.		2,958,168
	160,000	Bayside Land Corporation		1,974,039
	40,000	Elco Ltd.		2,943,066
	175,000	Gazit-Globe Ltd.		1,382,615
	16,380	Melisron Ltd.(a)		1,526,173
	593,430	Mivne Real Estate KD Ltd.		2,551,116
				17,091,291
		RENEWABLE ENERGY - 1.5%
	236,360	Energix-Renewable Energies Ltd.		1,006,223
	3,600	SolarEdge Technologies, Inc.(a)		1,010,052
				2,016,275
		RETAIL - CONSUMER STAPLES - 2.6%
	16,700	Rami Levy Chain Stores Hashikma Marketing 2006		1,251,802
	210,000	Shufersal Ltd.		1,747,526
	27,315	Victory Supermarket Chain Ltd.		584,231
				3,583,559
		SEMICONDUCTORS - 6.3%
	39,000	Nova Measuring Instruments Ltd.(a)		5,713,500
	74,423	Tower Semiconductor Ltd.(a)		2,953,105
				8,666,605
		SOFTWARE - 13.0%
	13,100	CyberArk Software Ltd.(a)		2,269,968
	33,435	Hilan Ltd.		2,239,814
	1,900	Monday.com Ltd.(a)		586,568
	21,100	Nice Ltd. - ADR(a)		6,405,960
	60,000	One Software Technologies Ltd.		1,193,291

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Shares			Fair Value
		COMMON STOCKS — 96.0% (Continued)
		SOFTWARE - 13.0% (Continued)
	45,300	Sapiens International Corp N.V.	$	1,560,585
	46,500	Varonis Systems, Inc.(a)		2,268,270
	25,500	Verint Systems, Inc.(a)		1,339,005
				17,863,461
		TECHNOLOGY HARDWARE - 2.6%
	22,800	AudioCodes Ltd.		792,072
	18,200	Kornit Digital Ltd.(a)		2,770,950
				3,563,022
		TECHNOLOGY SERVICES - 2.6%
	86,783	Magic Software Enterprises Ltd.		1,816,368
	56,210	Matrix IT Ltd.		1,705,769
				3,522,137
		WHOLESALE - DISCRETIONARY - 2.1%
	20,300	Tadiran Holdings Ltd.		2,837,200
		TOTAL COMMON STOCKS (Cost $61,944,483)		131,118,282
		SHORT-TERM INVESTMENTS — 4.0%
		MONEY MARKET FUNDS - 4.0%
	5,456,171	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,456,171)(c)		5,456,171
		TOTAL INVESTMENTS - 100.0% (Cost $67,400,654)	$	136,574,453
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.0%		58,945
		NET ASSETS - 100.0%	$	136,633,398

ADR	- American Depositary Receipt
LP	- Limited Partnership
LTD	- Limited Company
NV	- Naamioze Vennootschap
PLC	- Public Limited Company
REIT	- Real Estate Investment Trust

^(a) Non-income producing security.

^(b)  The value of this security has been determined in good faith under policies of the Board of Trustees.

^(c)  Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

DECEMBER 31, 2021

Diversification of Assets
Country	% of Net Assets
Israel	88.2%
United States	5.2%
Cayman Islands	1.1%
United Kingdom	1.1%
Jersey	0.4%
Total	96.0%
Money Market Funds	4.0%
Other Assets Less Liabilities - Net	0.0%
Grand Total	100.0%

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021

Shares							Fair Value
		EXCHANGE-TRADED FUNDS — 64.3%
		EQUITY - 64.3%
	295,000	Timothy Plan High Dividend Stock Enhanced ETF(a)					$	7,950,221
	160,000	Timothy Plan High Dividend Stock ETF(a)						5,200,144
		TOTAL EXCHANGE-TRADED FUNDS (Cost $11,394,806)						13,150,365
Principal       Amount ($)			Coupon Rate (%)		Maturity
		CORPORATE BONDS — 6.9%
		CHEMICALS — 0.8%
	59,000	LYB International Finance BV		4.0000		07/15/23		61,645
	85,000	Nutrien Ltd.		4.0000		12/15/26		92,986
								154,631
		ELECTRIC UTILITIES — 0.9%
	110,000	American Electric Power Company, Inc.		3.2000		11/13/27		116,187
	45,000	National Rural Utilities Cooperative Finance		2.9500		02/07/24		46,626
	22,000	WEC Energy Group, Inc.		3.5500		06/15/25		23,304
								186,117
		ELECTRICAL EQUIPMENT — 0.3%
	60,000	ABB Finance USA, Inc.		2.8750		05/08/22		60,483
		GAS & WATER UTILITIES — 0.6%
	110,000	NiSource, Inc.		3.4900		05/15/27		118,151
		INSTITUTIONAL FINANCIAL SERVICES — 0.3%
	55,000	Cboe Global Markets, Inc.		3.6500		01/12/27		59,838
		MACHINERY — 0.2%
	35,000	Eaton Corporation		2.7500		11/02/22		35,653
		OIL & GAS PRODUCERS — 1.6%
	85,000	Columbia Pipeline Group, Inc.		4.5000		06/01/25		91,710
	115,000	Phillips 66 Partners, L.P.		3.6050		02/15/25		121,094
	110,000	Sunoco Logistics Partners Operations, L.P.		4.2500		04/01/24		115,496
								328,300

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal       Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		CORPORATE BONDS — 6.9% (Continued)
		REAL ESTATE INVESTMENT TRUSTS — 1.0%
	75,000	Digital Realty Trust, L.P.		3.7000		08/15/27	$	81,327
	120,000	Healthpeak Properties, Inc.		3.5000		07/15/29		130,237
								211,564
		RETAIL - CONSUMER STAPLES — 0.4%
	80,000	Dollar General Corporation		4.1250		05/01/28		88,965
		TRANSPORTATION & LOGISTICS — 0.8%
	55,000	Canadian Pacific Railway Company		2.9000		02/01/25		57,224
	110,000	CSX Corporation		3.2500		06/01/27		118,029
								175,253
		TOTAL CORPORATE BONDS (Cost $1,360,524)						1,418,955
		NON U.S. GOVERNMENT & AGENCIES — 1.3%
		GOVERNMENT GUARANTEED — 0.2%
	45,000	Kreditanstalt fuer Wiederaufbau		2.1250		06/15/22		45,355
		LOCAL AUTHORITY — 0.9%
	120,000	Province of Ontario Canada		2.5000		04/27/26		125,492
	45,000	Province of Quebec Canada		2.3750		01/31/22		45,067
								170,559
		SUPRANATIONAL — 0.2%
	45,000	European Investment Bank		2.3750		06/15/22		45,419
		TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $256,246)						261,333
		U.S. GOVERNMENT & AGENCIES — 26.9%
		AGENCY FIXED RATE — 9.0%
	65,649	Fannie Mae Pool FM5537		2.0000		01/01/36		67,300
	47,690	Fannie Mae Pool MA4316		2.5000		04/01/36		49,622
	22,634	Fannie Mae Pool MA4329		2.0000		05/01/36		23,212
	70,643	Fannie Mae Pool MA4333		2.0000		05/01/41		71,816

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal       Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		U.S. GOVERNMENT & AGENCIES — 26.9% (Continued)
		AGENCY FIXED RATE — 9.0% (Continued)
	24,751	Fannie Mae Pool MA4475		2.5000		10/01/41	$	25,567
	59,708	Fannie Mae Pool FM4053		2.5000		08/01/50		61,184
	63,524	Fannie Mae Pool CA8897		3.0000		02/01/51		66,891
	10,728	Fannie Mae Pool MA4258		3.5000		02/01/51		11,354
	23,616	Fannie Mae Pool FM6550		2.0000		03/01/51		23,665
	51,581	Fannie Mae Pool CB0855		3.0000		06/01/51		54,068
	44,880	Fannie Mae Pool CB0867		3.5000		06/01/51		47,658
	3,826	Ginnie Mae I Pool 723248		5.0000		10/15/39		4,434
	60,518	Ginnie Mae II Pool MA3376		3.5000		01/20/46		64,048
	45,185	Ginnie Mae II Pool MA3596		3.0000		04/20/46		47,153
	39,447	Ginnie Mae II Pool MA3663		3.5000		05/20/46		41,538
	51,702	Ginnie Mae II Pool MA3736		3.5000		06/20/46		54,467
	17,112	Ginnie Mae II Pool MA4509		3.0000		06/20/47		17,887
	49,644	Ginnie Mae II Pool MA4652		3.5000		08/20/47		52,145
	47,607	Ginnie Mae II Pool MA4719		3.5000		09/20/47		50,156
	37,837	Ginnie Mae II Pool MA6092		4.5000		08/20/49		39,975
	30,522	Ginnie Mae II Pool MA6156		4.5000		09/20/49		32,230
	53,444	Ginnie Mae II Pool BN2662		3.0000		10/20/49		55,418
	32,702	Ginnie Mae II Pool MA6221		4.5000		10/20/49		34,583
	28,066	Ginnie Mae II Pool MA6478		5.0000		02/20/50		30,209
	35,315	Ginnie Mae II Pool MA6544		4.5000		03/20/50		37,250
	22,699	Ginnie Mae II Pool MA6545		5.0000		03/20/50		24,374
	32,710	Ginnie Mae II Pool MA6600		3.5000		04/20/50		34,126
	30,136	Ginnie Mae II Pool MA6601		4.0000		04/20/50		31,852
	41,558	Ginnie Mae II Pool MA6603		5.0000		04/20/50		44,625
	61,659	Ginnie Mae II Pool MA7255		2.5000		03/20/51		63,258
	48,148	Ginnie Mae II Pool MA7370		4.0000		05/20/51		50,717
	48,162	Ginnie Mae II Pool MA7418		2.5000		06/20/51		49,411
	79,829	Ginnie Mae II Pool MA7419		3.0000		06/20/51		82,722
	63,281	Ginnie Mae II Pool MA7472		2.5000		07/20/51		64,921
	74,495	Ginnie Mae II Pool CE1974		3.0000		08/20/51		77,972
	84,564	Ginnie Mae II Pool CE1990		2.5000		09/20/51		86,834
	79,757	Ginnie Mae II Pool MA7705		2.5000		11/20/51		81,825

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021

Principal       Amount ($)			Coupon Rate (%)		Maturity		Fair Value
		U.S. GOVERNMENT & AGENCIES — 26.9% (Continued)
		AGENCY FIXED RATE — 9.0% (Continued)
	85,000	Ginnie Mae II Pool MA7768		3.0000		12/20/51	$	88,352
								1,844,819
		U.S. TREASURY NOTES — 17.9%
	595,000.	United States Treasury Note		2.250000		11/15/24		617,010
	580,000.	United States Treasury Note		2.000000		8/15/25		598,397
	475,000.	United States Treasury Note		0.625000		7/31/26		462,142
	615,000.	United States Treasury Note		1.250000		9/30/28		608,297
	755,000.	United States Treasury Note		1.250000		8/15/31		739,074
	335,000.	United States Treasury Note		1.750000		8/15/41		325,840
	290,000.	United States Treasury Note		2.000000		8/15/51		296,978
								3,647,738
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $5,492,224)						5,492,557
Shares
		SHORT-TERM INVESTMENTS — 1.6%
		MONEY MARKET FUNDS - 1.6%
	329,939	Fidelity Government Portfolio, Class I, 0.01% (Cost $329,939)(b)						329,939
		TOTAL INVESTMENTS - 101.0% (Cost $18,833,739)					$	20,653,149
		LIABILITIES IN EXCESS OF OTHER ASSETS - (1.0)%						(201,914	)
		NET ASSETS - 100.0%					$	20,451,235

ETF	- Exchange-Traded Fund
LP	- Limited Partnership
LTD	- Limited Company
REIT	- Real Estate Investment Trust

(a) Affiliated Company.

(b) Rate disclosed is the seven day effective yield as of December 31, 2021.