Schedule of Portfolio Investments
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (99.6%)
Communication Services (2.7%):
Advantage Solutions, Inc.(a)		39,307		62,105
Cars.com, Inc.(a)		9,637		185,994
Cogent Communications Holdings, Inc.		3,488		222,255
EchoStar Corp., Class A(a)		8,264		151,149
Gogo, Inc.(a)		9,143		132,574
Gray Television, Inc.		9,956		86,816
PubMatic, Inc.(a)		4,217		58,279
Sciplay Corp., Class A(a)		11,227		190,410
Shenandoah Telecommunication Co.		7,292		138,694
Stagwell, Inc.(a)		16,314		121,050
TechTarget, Inc.(a)		1,942		70,145
Thryv Holdings, Inc.(a)		7,152		164,925
US Cellular Corp.(a)		6,816		141,296
Vivid Seats, Inc., Class A(a)		11,941		91,110
ZipRecruiter, Inc.(a)		5,742		91,527
				1,908,329
Consumer Discretionary (15.3%):
American Eagle Outfitters, Inc.		9,863		132,559
Arhaus, Inc.(a)		10,226		84,774
Arko Corp.		14,666		124,514
Bloomin' Brands, Inc.		5,136		131,738
Boot Barn Holdings, Inc.(a)		1,689		129,445
Brinker International, Inc.(a)		3,290		125,020
Caleres, Inc.		3,451		74,645
Camping World Holdings, Inc., Class A		3,704		77,302
Carter's, Inc.		2,059		148,083
Cavco Industries, Inc.(a)		585		185,878
Century Communities, Inc.		2,606		166,576
Cracker Barrel Old Country Store, Inc.		1,407		159,835
Cricut, Inc., Class A		8,718		88,924
Dana, Inc.		7,970		119,948
Dave & Buster's Entertainment, Inc.(a)		2,614		96,169
Designer Brands, Inc., Class A		6,878		60,114
Dine Brands Global, Inc.		1,617		109,374
Dorman Products, Inc.		1,914		165,102
Dream Finders Homes, Inc., Class A(a)		9,914		131,361
European Wax Center, Inc., Class A		5,706		108,414
First Watch Restaurant Group, Inc.(a)		6,834		109,754
Franchise Group, Inc.		4,236		115,431
Frontdoor, Inc.(a)		7,025		195,857
Funko, Inc., Class A(a)		4,169		39,314
Gentherm, Inc.(a)		2,091		126,338
G-III Apparel Group Ltd.(a)		6,463		100,500
GoPro, Inc., Class A(a)		22,387		112,607
Graham Holdings Co., Class B		417		248,465

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Consumer Discretionary (15.3%): (continued)
Grand Canyon Education, Inc.(a)		2,257		257,072
Green Brick Partners, Inc.(a)		5,044		176,843
Group 1 Automotive, Inc.		746		168,909
Guess?, Inc.		6,198		120,613
Helen of Troy Ltd.(a)		1,549		147,418
Installed Building Products, Inc.		1,420		161,923
Jack In The Box, Inc.		1,681		147,239
KB Home		4,110		165,140
Kontoor Brands, Inc.		3,356		162,397
La Z Boy, Inc.		5,704		165,872
LCI Industries		1,157		127,120
Leslie's, Inc.(a)		7,855		86,484
LGI Homes, Inc.(a)		1,375		156,791
M/I Homes, Inc.(a)		3,189		201,194
Malibu Boats, Inc.(a)		2,585		145,923
MarineMax, Inc.(a)		3,876		111,435
MDC Holdings, Inc.		4,559		177,208
Meritage Homes Corp.		1,866		217,874
Modine Manufacturing Co.(a)		6,967		160,589
Monro, Inc.		3,032		149,872
National Vision Holdings, Inc.(a)		3,106		58,517
OneSpaWorld Holdings Ltd.(a)		14,673		175,929
Overstock.com, Inc.(a)		2,687		54,465
Oxford Industries, Inc.		1,472		155,428
Papa John's International, Inc.		2,208		165,445
Patrick Industries, Inc.		2,613		179,801
Perdoceo Education Corp.(a)		18,109		243,204
Playa Hotels & Resorts N.V.(a)		20,669		198,422
Qurate Retail, Inc.(a)		35,652		35,217
Revolve Group, Inc.(a)		3,668		96,468
Sally Beauty Holdings, Inc.(a)		9,249		144,099
Six Flags Entertainment Corp.(a)		4,574		122,172
Solid Power, Inc.(a)		16,090		48,431
Sonic Automotive, Inc., Class A		2,423		131,666
Sonos, Inc.(a)		6,356		124,705
Standard Motor Products		4,583		169,159
Steven Madden Ltd.		4,720		169,920
Strategic Education, Inc.		2,137		191,967
Stride, Inc.(a)		2,469		96,908
Sturm Ruger & Co.		4,027		231,311
Target Hospitality Corp.(a)		5,035		66,160
Taylor Morrison Home Corp.(a)		4,616		176,608
The Buckle, Inc.		3,693		131,803
The Cheesecake Factory, Inc.		3,260		114,263
Tri Pointe Group, Inc.(a)		8,325		210,789
Upbound Group, Inc.		4,333		106,202
Vista Outdoor, Inc.(a)		5,145		142,568
Winnebago Industries, Inc.		1,909		110,149
Wolverine World Wide, Inc.		7,803		133,041

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Consumer Discretionary (15.3%): (continued)
XPEL, Inc.(a)		1,550		105,323
				10,766,097
Consumer Staples (7.1%):
B&G Foods, Inc.		9,780		151,883
Cal-Maine Foods, Inc.		2,748		167,326
Central Garden And Pet Co., Class A(a)		5,582		218,089
Edgewell Personal Care Co.		4,051		171,843
elf Beauty, Inc.(a)		3,233		266,238
Energizer Holdings, Inc.		5,905		204,904
Fresh Del Monte Produce, Inc.		6,919		208,331
Herbalife Nutrition Ltd.(a)		5,227		84,155
Ingles Markets, Inc.		2,158		191,415
Inter Parfums, Inc.		2,075		295,148
J & J Snack Foods Corp.		1,496		221,737
John B. Sanfilippo & Son, Inc.		2,695		261,199
Medifast, Inc.		1,052		109,061
Mission Produce, Inc.(a)		11,487		127,621
Nu Skin Enterprises, Inc., Class A		3,987		156,729
PriceSmart, Inc.		3,133		223,947
SpartanNash Co.		5,048		125,190
Spectrum Brands Holdings, Inc.		3,472		229,916
The Andersons, Inc.		3,076		127,100
The Chefs' Warehouse, Inc.(a)		4,002		136,268
The Hain Celestial Group, Inc.(a)		7,783		133,478
The Vita Coco Co., Inc.(a)		6,994		137,222
Tootsie Roll Industries, Inc.		6,489		291,420
United Natural Foods, Inc.(a)		3,548		93,490
Usana Health Sciences, Inc.(a)		3,056		192,222
Utz Brands, Inc.		9,391		154,670
WD-40 Co.		869		154,725
Weis Markets, Inc.		2,309		195,503
				5,030,830
Energy (2.7%):
Arch Resources, Inc.		642		84,397
Archrock, Inc.		20,772		202,942
Bristow Group, Inc.(a)		4,842		108,461
Callon Petroleum Co.(a)		1,944		65,007
CONSOL Energy, Inc.		1,142		66,544
Delek US Holdings, Inc.		3,199		73,417
Earthstone Energy, Inc., Class A(a)		5,585		72,661
NexTier Oilfield Solutions, Inc.(a)		8,490		67,496
Noble Corp. PLC(a)		3,358		132,540
Northern Oil and Gas, Inc.		2,719		82,522
Par Pacific Holdings, Inc.(a)		5,262		153,650
Permian Resources Corp.		9,887		103,814
Ranger Oil Corp.		2,168		88,541
RPC, Inc.		9,950		76,515
Select Energy Services, Inc., Class A		11,428		79,539

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Energy (2.7%): (continued)
SilverBow Resources, Inc.(a)		2,447		55,914
Sitio Royalties Corp., Class A		4,727		106,830
Talos Energy, Inc.(a)		3,903		57,921
Vital Energy, Inc.(a)		1,074		48,910
W&T Offshore, Inc.(a)		9,033		45,888
World Fuel Services Corp.		4,922		125,757
				1,899,266
Financials (21.1%):
1st Source Corp.		4,820		207,983
Artisan Partners Asset Management, Inc., Class A		5,829		186,411
AssetMark Financial Holdings, Inc.(a)		10,483		329,690
Atlantic Union Bankshares Corp.		6,217		217,906
Axos Financial, Inc.(a)		3,830		141,404
BankUnited, Inc.		4,777		107,865
Banner Corp.		3,179		172,842
Berkshire Hills BanCorp, Inc.		7,350		184,191
BGC Partners, Inc., Class A		40,493		211,778
Bread Financial Holdings, Inc.		3,419		103,664
Capitol Federal Financial, Inc.		34,601		232,865
City Holding Co.		3,004		273,004
CNO Financial Group, Inc.		8,811		195,516
Columbia Banking System, Inc.		5,764		123,465
Columbia Financial, Inc.(a)		10,898		199,215
Compass Diversified Holdings		7,765		148,156
Dime Community Bancshares, Inc.		6,312		143,409
Donnelley Financial Solutions, Inc.(a)		2,983		121,885
Encore Capital Group, Inc.(a)		3,388		170,925
Enterprise Financial Services Corp.		4,876		217,421
FB Financial Corp.		4,872		151,422
Federal Agricultural Mortgage Corp., Class C		1,809		240,941
First BanCorp.		9,384		107,165
First BanCorp.		4,830		171,562
First Busey Corp.		9,491		193,047
First Commonwealth Financial Corp.		16,735		208,016
First Financial BanCorp.		9,165		199,522
First Foundation, Inc.		10,473		78,024
First Merchants Corp.		5,171		170,384
Fulton Financial Corp.		12,603		174,173
Genworth Financial, Inc.(a)		37,611		188,807
German American BanCorp, Inc.		6,090		203,223
Green Dot Corp., Class A(a)		5,703		97,978
Heartland Financial USA, Inc.		4,936		189,345
Hilltop Holdings, Inc.		5,790		171,789
Hope BanCorp, Inc.		14,059		138,059
Horace Mann Educators		5,221		174,799
Independent Bank Group, Inc.		3,202		148,413
International Bancshares Corp.		4,198		179,758
Jackson Financial, Inc., Class A		3,446		128,915

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Financials (21.1%): (continued)
Lakeland BanCorp, Inc.		13,833		216,348
Lakeland Financial Corp.		3,053		191,240
Lendingclub Corp.(a)		6,761		48,747
Live Oak Bancshares, Inc.		3,326		81,055
Merchants BanCorp		7,879		205,169
Moelis & Co., Class A		4,022		154,606
National Bank Holdings Corp., Class A		5,186		173,524
Navient Corp.		8,391		134,172
NBT BanCorp, Inc.		6,402		215,811
NMI Holdings, Inc.(a)		7,086		158,230
Northwest Bancshares, Inc.		19,056		229,244
Oceanfirst Financial Corp.		11,907		220,041
OFG BanCorp		6,947		173,258
Open Lending Corp.(a)		12,112		85,268
Palomar Holdings, Inc.(a)		1,258		69,442
Park National Corp.		1,719		203,822
PennyMac Financial Services, Inc.		3,415		203,568
Piper Sandler Cos.		1,379		191,143
PJT Partners, Inc., Class A		2,599		187,622
PRA Group, Inc.(a)		8,598		334,978
ProAssurance Corp.		8,937		165,156
Provident Financial Services, Inc.		11,195		214,720
Renasant Corp.		6,128		187,394
S&T BanCorp, Inc.		7,949		249,996
Safety Insurance Group, Inc.		3,381		251,952
Sandy Spring BanCorp, Inc.		5,763		149,723
Seacoast Banking Corp.		5,991		141,987
Silvergate Capital Corp., Class A(a)		803		1,301
Southside Bancshares, Inc.		6,804		225,893
StepStone Group, Inc., Class A		5,027		122,005
Stewart Information Services Corp.		3,801		153,370
Stock Yards BanCorp, Inc.		3,106		171,265
StoneX Group, Inc.(a)		2,064		213,686
Texas Capital Bancshares, Inc.(a)		2,644		129,450
The BanCorp, Inc.(a)		5,032		140,141
Tompkins Financial Corp.		3,095		204,920
Towne Bank		8,125		216,531
TriCo Bancshares		4,366		181,582
Triumph BanCorp, Inc.(a)		2,113		122,681
Trustmark Corp.		7,522		185,793
Upstart Holdings, Inc.(a)		1,727		27,442
Veritex Holdings, Inc.		5,983		109,250
Virtus Investment Partners, Inc.		886		168,686
Washington Federal, Inc.		6,503		195,870
WesBanco, Inc.		6,170		189,419
Westamerica BanCorp.		5,242		232,221
				14,834,659

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Health Care (8.2%):
AdaptHealth Corp.(a)		4,195		52,144
Addus Homecare Corp.(a)		1,413		150,852
Agiliti, Inc.(a)		7,062		112,851
Alector, Inc.(a)		9,323		57,709
Allscripts Healthcare Solutions, Inc.(a)		9,868		128,777
Apollo Medical Holdings, Inc.(a)		2,608		95,114
Arcus Biosciences, Inc.(a)		2,760		50,342
AtriCure, Inc.(a)		3,413		141,469
Atrion Corp.		304		190,885
Avid Bioservices, Inc.(a)		4,976		93,350
Catalyst Pharmaceuticals, Inc.(a)		7,382		122,394
Corcept Therapeutics, Inc.(a)		4,577		99,138
CorVel Corp.(a)		1,129		214,826
Cross Country Healthcare, Inc.(a)		2,680		59,818
DocGo, Inc.(a)		7,857		67,963
Dynavax Technologies Corp.(a)		7,708		75,615
Embecta Corp.		3,232		90,884
Emergent Biosolutions, Inc.(a)		4,777		49,490
Enhabit, Inc.(a)		6,063		84,336
Enovis Corp.(a)		3,383		180,957
Figs, Inc., Class A(a)		9,072		56,156
Fulgent Genetics, Inc.(a)		2,939		91,756
Harmony Biosciences Holdings, Inc.(a)		2,081		67,945
Innoviva, Inc.(a)		11,470		129,037
Integer Holdings Corp.(a)		3,180		246,450
Ironwood Pharmaceuticals, Inc.(a)		18,098		190,391
iTeos Therapeutics, Inc.(a)		4,430		60,292
Lemaitre Vascular, Inc.		3,383		174,123
Multiplan Corp.(a)		30,768		32,614
National Healthcare Corp.		4,018		233,325
National Research Corp.		3,977		173,039
Neogen Corp.(a)		13,348		247,205
Owens & Minor, Inc.(a)		7,808		113,606
Pacira BioSciences, Inc.(a)		2,949		120,349
Patterson Cos., Inc.		6,852		183,428
Pediatrix Medical Group, Inc.(a)		7,905		117,863
Prestige Consumer Healthcare, Inc.(a)		4,004		250,770
Prothena Corp. PLC(a)		842		40,812
RadNet, Inc.(a)		6,076		152,082
Regenxbio, Inc.(a)		4,019		75,999
Senseonics Holdings, Inc.(a)		48,839		34,676
SIGA Technologies, Inc.		5,033		28,940
Simulations Plus, Inc.		2,671		117,364
Supernus Pharmaceuticals, Inc.(a)		4,994		180,933
Syndax Pharmaceuticals, Inc.(a)		4,329		91,428
U.S. Physical Therapy, Inc.		1,660		162,531
Varex Imaging Corp.(a)		8,531		155,179

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Health Care (8.2%): (continued)
Xencor, Inc.(a)		4,279		119,341
				5,766,548
Industrials (22.2%):
3D Systems Corp.(a)		11,307		121,211
AAR Corp.(a)		4,114		224,419
AerSale Corp.(a)		6,741		116,080
Air Transport Services Group(a)		5,648		117,648
Alamo Group, Inc.		1,546		284,711
Albany International Corp.		2,296		205,171
Allegiant Travel Co.(a)		1,764		162,253
Apogee Enterprises, Inc.		3,844		166,253
ArcBest Corp.		1,410		130,312
Arcosa, Inc.		2,675		168,819
Astec Industries, Inc.		3,957		163,226
AZZ, Inc.		5,663		233,542
Barnes Group, Inc.		5,673		228,508
Boise Cascade Co.		1,625		102,781
Brady Corp.		4,919		264,298
BrightView Holdings, Inc.(a)		17,502		98,361
CBIZ, Inc.(a)		4,802		237,651
Columbus McKinnon Corp.		5,594		207,873
Construction Partners, Inc., Class A(a)		4,054		109,215
CoreCivic, Inc.(a)		12,714		116,969
CSW Industrials, Inc.		1,795		249,379
Deluxe Corp.		9,239		147,824
Encore Wire Corp.		863		159,940
Energy Recovery, Inc.(a)		7,714		177,808
Enerpac Tool Group Corp.		7,746		197,523
EnerSys		2,678		232,665
EnPro Industries, Inc.		1,875		194,794
Esab Corp.		3,895		230,078
ESCO Technologies, Inc.		2,329		222,303
Federal Signal Corp.		4,682		253,811
First Advantage Corp.(a)		11,098		154,928
Forrester Research, Inc.(a)		4,761		154,018
Forward Air Corp.		1,516		163,364
Gibraltar Industries, Inc.(a)		2,838		137,643
Global Industrial Co.		4,609		123,706
GMS, Inc.(a)		3,109		179,980
GrafTech International, Ltd.		26,013		126,423
Granite Construction, Inc.		6,876		282,466
Griffon Corp.		3,498		111,971
H&E Equipment Services, Inc.		3,964		175,328
Hayward Holdings, Inc.(a)		12,338		144,601
Healthcare Services Group, Inc.		9,787		135,746
Heartland Express, Inc.		14,560		231,795
Helios Technologies, Inc.		2,573		168,274
Heritage-Crystal Clean, Inc.(a)		6,064		215,939

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Industrials (22.2%): (continued)
Hillenbrand, Inc.		4,380		208,181
HireRight Holdings Corp.(a)		6,126		64,997
HNI Corp.		5,951		165,676
Huron Consulting Group, Inc.(a)		2,759		221,741
ICF International, Inc.		1,935		212,269
Janus International Group, Inc.(a)		12,829		126,494
Jeld-Wen Holding, Inc.(a)		11,603		146,894
Kadant, Inc.		1,053		219,572
Kaman Corp.		5,098		116,540
Kennametal, Inc.		6,637		183,048
Kforce, Inc.		2,549		161,199
Lindsay Corp.		1,123		169,719
Marten Transport Ltd.		7,455		156,182
Matson, Inc.		1,637		97,680
Maxar Technologies, Inc.		5,012		255,913
McGrath Rentcorp		2,597		242,326
Mercury Systems, Inc.(a)		3,114		159,188
Moog, Inc., Class A		2,666		268,600
Mueller Water Products, Inc., Class A		17,877		249,205
MYR Group, Inc.(a)		2,100		264,621
NOW, Inc.(a)		11,531		128,571
NV5 Global, Inc.(a)		1,264		131,418
PGT Innovations, Inc.(a)		6,482		162,763
Primoris Services Corp.		8,823		217,575
Proto Labs, Inc.(a)		3,559		117,981
Rush Enterprises, Inc., Class A		3,934		214,796
SkyWest, Inc.(a)		5,688		126,103
SPX Technologies, Inc.(a)		3,161		223,103
Standex International Corp.		2,469		302,304
Sun Country Airlines Holdings, Inc.(a)		6,904		141,532
Tennant Co.		3,304		226,423
Terex Corp.		4,015		194,246
The AZEK Co., Inc.(a)		5,204		122,502
The Brink's Co.		3,576		238,877
The Greenbrier Cos., Inc.		5,657		181,986
The Shyft Group, Inc.		5,400		122,850
Titan International, Inc.(a)		6,250		65,500
Trinity Industries, Inc.		7,194		175,246
Universal Logistics Holdings, Inc.		3,675		107,126
V2X, Inc.(a)		2,612		103,749
Veritiv Corp.		1,085		146,627
Wabash National Corp.		7,760		190,818
Werner Enterprises, Inc.		4,946		224,994
				15,588,743
Information Technology (10.4%):
A10 Networks, Inc.		8,116		125,717
ACI Worldwide, Inc.(a)		7,652		206,451
ACM Research, Inc., Class A(a)		8,561		100,164

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Information Technology (10.4%): (continued)
Agilysys, Inc.(a)		2,247		185,400
Alpha & Omega Semiconductor, Ltd.(a)		2,408		64,896
Avid Technology, Inc.(a)		3,773		120,661
Axcelis Technologies, Inc.(a)		1,533		204,272
Badger Meter, Inc.		1,924		234,382
Belden, Inc.		2,404		208,595
Benchmark Electronics, Inc.		7,335		173,766
Clearfield, Inc.(a)		821		38,242
Cohu, Inc.(a)		4,084		156,785
CommVault Systems, Inc.(a)		2,946		167,156
Conduent, Inc.(a)		32,725		112,247
Consensus Cloud Solutions, Inc.(a)		2,311		78,782
CSG Systems International, Inc.		3,365		180,701
Digi International, Inc.(a)		3,979		134,013
Digital Turbine, Inc.(a)		4,754		58,759
Ebix, Inc.		3,201		42,221
eplus, Inc.(a)		3,652		179,094
EVERTEC, Inc.		5,783		195,176
Extreme Networks, Inc.(a)		7,815		149,423
FormFactor, Inc.(a)		4,300		136,955
Harmonic, Inc.(a)		9,404		137,204
Ichor Holding Ltd.(a)		3,863		126,475
InterDigital, Inc.		3,791		276,364
International Money Express, Inc.(a)		6,357		163,884
MaxLinear, Inc.(a)		2,853		100,454
Methode Electronics, Inc.		4,941		216,811
N-able, Inc.(a)		11,622		153,410
Napco Security Technologies Inc.(a)		4,996		187,750
NetScout Systems, Inc.(a)		5,554		159,122
OSI Systems, Inc.(a)		3,009		308,001
Paymentus Holdings, Inc.(a)		6,830		60,514
Payoneer Global, Inc.(a)		9,433		59,239
PC Connection, Inc.		3,947		177,457
Perficient, Inc.(a)		1,719		124,095
Photronics, Inc.(a)		5,847		96,943
Plexus Corp.(a)		2,051		200,116
Progress Software Corp.		3,887		223,308
Semtech Corp.(a)		4,077		98,419
SiTime Corp.(a)		827		117,624
SMART Global Holdings, Inc.(a)		8,626		148,712
TaskUS, Inc., Class A(a)		3,626		52,359
TTEC Holdings, Inc.		2,964		110,350
TTM Technologies(a)		9,156		123,514
Ultra Clean Holdings, Inc.(a)		3,838		127,268
Veeco Instruments, Inc.(a)		7,116		150,361
Verra Mobility Corp.(a)		9,701		164,141
Vishay Intertechnology, Inc.		9,376		212,085
				7,329,838

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Materials (5.6%):
AdvanSix, Inc.		3,401		130,156
Alpha Metallurgical Resources, Inc.		482		75,192
Arconic Corp.(a)		5,408		141,852
Chase Corp.		2,376		248,838
Ecovyst, Inc.(a)		14,239		157,341
Hawkins, Inc.		4,005		175,339
Hecla Mining Co.		21,220		134,323
Ingevity Corp.(a)		2,442		174,652
Innospec, Inc.		2,291		235,217
Materion Corp.		1,860		215,760
Minerals Technologies, Inc.		3,247		196,184
NewMarket Corp.		661		241,252
O-I Glass, Inc.(a)		7,806		177,274
Origin Materials, Inc.(a)		18,983		81,057
Orion Engineered Carbons SA		9,178		239,454
Pactiv Evergreen, Inc.		13,588		108,704
Ryerson Holding Corp.		2,775		100,954
Schnitzer Steel Industries, Inc.		3,844		119,548
Stepan Co.		2,229		229,654
Sylvamo Corp.		2,496		115,465
TriMas Corp.		7,459		207,808
Trinseo PLC		5,242		109,296
Warrior Met Coal, Inc.		3,260		119,675
Worthington Industries, Inc.		2,863		185,093
				3,920,088
Real Estate (1.3%):
eXp World Holdings, Inc.		6,442		81,749
Kennedy-Wilson Holdings, Inc.		12,762		211,721
Marcus & Millichap, Inc.		4,442		142,633
Newmark Group, Inc., Class A		14,133		100,062
The RMR Group, Inc., Class A		8,375		219,760
The St. Joe Co.		4,374		182,002
				937,927
Utilities (3.0%):
Altus Power, Inc.(a)		6,559		35,943
Avista Corp.		6,606		280,425
Chesapeake Utilities Corp.		1,958		250,604
MGE Energy, Inc.		4,041		313,865
Middlesex Water Co.		2,419		188,972
Montauk Renewables, Inc.(a)		5,915		46,551
Northwest Natural Holding Co.		4,744		225,625
NorthWestern Corp.		4,898		283,398
SJW Group		3,869		294,547

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Small Cap Core ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Utilities (3.0%): (continued)
Unitil Corp.		3,630		207,055
				2,126,985
Total Common Stocks (Cost $69,811,036)				70,109,310
Total Investments (Cost $69,811,036) — 99.6%				70,109,310
Other assets in excess of liabilities — 0.4%				253,716
NET ASSETS - 100.00%				70,363,026

Percentages indicated are based on net assets as of March 31, 2023.

(a) Non-income producing security.

Futures Contracts

Long Futures
Index Futures	Expiration Date	Number of Contracts	Notional Amount		Value and Unrealized  Appreciation/ (Depreciation)
E-Mini Russell 2000 Index	6/16/23	3	$	272,025	$	5,738
					$	5,738

Schedule of Portfolio Investments

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (99.5%)
Communication Services (0.9%):
Endeavor Group Holdings, Inc., Class A(a)		22,029		527,154
Lumen Technologies, Inc.		73,751		195,440
News Corp., Class A		36,064		622,826
The Trade Desk, Inc., Class A(a)		4,408		268,491
ZoomInfo Technologies, Inc.(a)		7,290		180,136
				1,794,047
Consumer Discretionary (7.9%):
Aptiv PLC(a)		4,723		529,873
Aramark		18,206		651,775
AutoZone, Inc.(a)		287		705,489
Burlington Stores, Inc.(a)		3,145		635,604
CarMax, Inc.(a)		6,368		409,335
Chipotle Mexican Grill, Inc.(a)		318		543,236
Darden Restaurants, Inc.		4,254		660,051
Dollar General Corp.		2,506		527,413
Dollar Tree, Inc.(a)		3,389		486,491
Domino's Pizza, Inc.		1,995		658,091
DR Horton, Inc.		6,782		662,534
Garmin, Ltd.		8,036		810,993
Genuine Parts Co.		5,312		888,751
Lennar Corp.		6,329		665,241
LKQ Corp.		11,249		638,493
Lowe's Cos., Inc.		3,381		676,099
NVR, Inc.(a)		146		813,540
O'Reilly Automotive, Inc.(a)		895		759,837
Pool Corp.		1,610		551,328
Pultegroup, Inc.		12,484		727,567
Ross Stores, Inc.		5,311		563,656
Service Corp.		11,093		762,977
Tesla, Inc.(a)		1,568		325,297
Tractor Supply Co.		2,820		662,813
Vail Resorts, Inc.		2,490		581,863
				15,898,347

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Consumer Staples (4.0%):
BJ's Wholesale Club Holdings, Inc.(a)		6,537		497,270
Bunge, Ltd.		7,218		689,463
Campbell Soup Co.		17,100		940,158
Costco Wholesale Corp.		1,400		695,618
Darling Ingredients, Inc.(a)		6,152		359,277
Hormel Foods Corp.		20,498		817,460
Lamb Weston Holdings, Inc.		7,990		835,115
McCormick & Co., Inc.		10,323		858,977
Monster Beverage Corp.(a)		15,406		832,078

Consumer Staples (4.0%): (continued)
Sysco Corp.	9,146	706,345
The JM Smucker Co.	5,643	888,039
		8,119,800
Energy (5.3%):
Antero Resources Corp.(a)	9,724	224,527
APA Corp.	8,537	307,844
Chesapeake Energy Corp.	4,516	343,397
ConocoPhillips	4,050	401,800
Coterra Energy, Inc.	15,013	368,419
Devon Energy Corp.	5,457	276,179
Diamondback Energy, Inc.	2,974	401,996
EOG Resources, Inc.	3,711	425,392
Halliburton Co.	13,676	432,709
Hess Corp.	3,756	497,069
HF Sinclair Corp.	7,305	353,416
Kinder Morgan, Inc.	43,536	762,315
Marathon Oil Corp.	14,169	339,489
Marathon Petroleum Corp.	5,346	720,801
Occidental Petroleum Corp.	5,311	331,566
ONEOK, Inc.	10,794	685,851
Ovintiv, Inc.	6,604	238,272
Phillips 66	5,357	543,093
Pioneer Natural Resources Co.	2,098	428,495
Schlumberger Ltd.	9,592	470,967
Targa Resources Corp.	7,586	553,399
Texas Pacific Land Corp.	201	341,905

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
The Williams Cos., Inc.		23,660		706,488
Valero Energy Corp.		3,882		541,927
				10,697,316
Financials (11.1%):
Aflac, Inc.		15,029		969,671
American Financial Group, Inc.		5,886		715,149
Arch Capital Group Ltd.(a)		17,385		1,179,920
Ares Management Corp., Class A		7,091		591,673
Arthur J Gallagher & Co.		4,544		869,313
Brown & Brown, Inc.		11,570		664,349
Cboe Global Markets, Inc.		7,068		948,808
Cincinnati Financial Corp.		6,269		702,630
East West BanCorp, Inc.		7,561		419,636
Equitable Holdings, Inc.		20,687		525,243
Erie Indemnity Co., Class A		3,495		809,652
Everest Re Group, Ltd.		2,776		993,864
FactSet Research Systems, Inc.		1,823		756,709
First Citizens BancShares, Inc., Class A		674		655,869
First Republic Bank		5,216		72,972
Franklin Resources, Inc.		26,763		720,995
Globe Life, Inc.		7,569		832,741
Interactive Brokers Group, Inc.		8,280		683,597
Financials (11.1%): (continued)
Intercontinental Exchange, Inc.		7,852		818,885
LPL Financial Holdings, Inc.		2,056		416,134
Markel Corp.(a)		738		942,729
MarketAxess Holdings, Inc.		2,418		946,139
Morningstar, Inc.		2,578		523,411
MSCI, Inc.		1,388		776,850
Nasdaq, Inc.		14,460		790,528
Principal Financial Group, Inc.		8,706		647,030
Raymond James Financial, Inc.		5,984		558,128
Rocket Cos., Inc., Class A(a)		52,452		475,215
Ryan Specialty Holdings, Inc.(a)		13,102		527,224
Tradeweb Markets, Inc., Class A		12,433		982,456
WR Berkley Corp.		12,092		752,848
				22,270,368

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Health Care (12.6%):
Agilent Technologies, Inc.		4,642		642,174
Align Technology, Inc.(a)		1,779		594,435
Amgen, Inc.		3,930		950,077
Avantor, Inc.(a)		27,260		576,276
Baxter International, Inc.		12,830		520,385
BioMarin Pharmaceutical, Inc.(a)		6,714		652,869
Catalent, Inc.(a)		6,749		443,477
Centene Corp.(a)		8,740		552,455
Charles River Laboratories International, Inc.(a)		2,307		465,599
Danaher Corp.		2,480		625,059
Dexcom, Inc.(a)		3,931		456,704
Edwards Lifesciences Corp.(a)		6,660		550,982
HCA Healthcare, Inc.		2,301		606,728
Henry Schein, Inc.(a)		12,118		988,102
Horizon Therapeutics PLC(a)		7,844		856,094
Humana, Inc.		1,545		750,036
IDEXX Laboratories, Inc.(a)		1,526		763,122
Incyte Corp.(a)		10,700		773,289
Insulet Corp.(a)		1,673		533,620
Intuitive Surgical, Inc.(a)		2,538		648,383
IQVIA Holdings, Inc.(a)		3,348		665,884
Mettler-Toledo International, Inc.(a)		504		771,226
Moderna, Inc.(a)		2,130		327,125
Neurocrine Biosciences, Inc.(a)		5,540		560,759
PerkinElmer, Inc.		4,604		613,529
R1 RCM, Inc.(a)		25,710		385,650
Regeneron Pharmaceuticals, Inc.(a)		781		641,724
Repligen Corp.(a)		1,858		312,813
ResMed, Inc.		2,925		640,546
Shockwave Medical, Inc.(a)		1,119		242,633
STERIS PLC		3,830		732,602
Stryker Corp.		3,165		903,512
Teleflex, Inc.		3,073		778,422

Health Care (12.6%): (continued)
United Therapeutics Corp.(a)	2,728	610,963
Veeva Systems, Inc., Class A(a)	2,663	489,433
Vertex Pharamaceuticals, Inc.(a)	2,221	699,770
Waters Corp.(a)	2,201	681,496

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
West Pharmaceutical Services, Inc.		2,315		802,078
Zimmer Biomet Holdings, Inc.		6,149		794,451
Zoetis, Inc.		4,942		822,546
				25,427,028
Industrials (23.5%):
Advanced Drainage Systems, Inc.		3,517		296,167
AECOM		9,938		837,972
AMETEK, Inc.		7,689		1,117,442
Builders FirstSource, Inc.(a)		6,806		604,237
Carlisle Companies, Inc.		2,340		529,004
Carrier Global Corp.		18,373		840,565
Caterpillar, Inc.		3,421		782,862
CH Robinson Worldwide, Inc.		6,227		618,777
Cintas Corp.		2,020		934,614
Copart, Inc.(a)		10,972		825,204
Costar Group, Inc.(a)		6,152		423,565
CSX Corp.		26,214		784,847
Deere & Co.		1,519		627,165
Dover Corp.		6,084		924,403
Eaton Corp. PLC		5,388		923,180
Equifax, Inc.		3,655		741,380
Expeditors International of Washington, Inc.		7,438		819,073
Fastenal Co.		16,742		903,063
Fortive Corp.		11,577		789,204
Generac Holdings, Inc.(a)		2,246		242,590
General Dynamics Corp.		3,895		888,878
Graco, Inc.		13,006		949,568
HEICO Corp.		5,313		908,735
Honeywell International, Inc.		4,706		899,411
Howmet Aerospace, Inc.		18,389		779,142
Hubbell, Inc.		3,287		799,760
Huntington Ingalls Industries, Inc.		3,590		743,202
IDEX Corp.		4,115		950,688
Illinois Tool Works, Inc.		4,243		1,032,958
Ingersoll Rand, Inc.		12,907		750,929
J.B. Hunt Transport Services, Inc.		3,673		644,465
Johnson Controls International PLC		12,649		761,723
Leidos Holdings, Inc.		9,012		829,645
Masco Corp.		13,204		656,503

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Nordson Corp.		3,599		799,914
Norfolk Southern Corp.		3,365		713,380
Old Dominion Freight Line, Inc.		1,867		636,348
Otis Worldwide Corp.		11,907		1,004,951
PACCAR, Inc.		13,342		976,634
Industrials (23.5%): (continued)
Parker Hannifin Corp.		2,562		861,114
Quanta Services, Inc.		4,168		694,555
Regal Rexnord Corp.		4,207		592,051
Republic Services, Inc.		7,295		986,430
Rockwell Automation, Inc.		2,469		724,528
Rollins, Inc.		20,278		761,033
Snap-on, Inc.		3,710		915,962
SS&C Technologies Holdings, Inc.		14,945		843,944
Textron, Inc.		9,913		700,155
Trane Technologies PLC		4,824		887,520
TransDigm Group, Inc.		1,155		851,293
TransUnion		9,872		613,446
U-Haul Holding Co.		14,478		863,613
Union Pacific Corp.		4,175		840,260
United Rentals, Inc.		1,770		700,495
Verisk Analytics, Inc.		4,753		911,911
Waste Management, Inc.		6,190		1,010,022
Watsco, Inc.		2,710		862,214
Westinghouse Air Brake Technologies Corp.		7,299		737,637
WW Grainger, Inc.		1,442		993,264
Xylem, Inc.		6,536		684,319
				47,327,914
Information Technology (16.3%):
Advanced Micro Devices, Inc.(a)		5,990		587,080
Akamai Technologies, Inc.(a)		8,766		686,378
Amphenol Corp., Class A		10,599		866,150
Analog Devices, Inc.		4,145		817,477
ANSYS, Inc.(a)		2,430		808,704
Arista Networks, Inc.(a)		4,809		807,239
Bentley Systems, Inc., Class B		12,859		552,808
Broadcom, Inc.		1,300		834,002
Cadence Design Systems, Inc.(a)		3,396		713,466

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
CDW Corp.		4,318		841,535
Cognizant Technology Solutions Corp., Class A		10,999		670,169
Datadog, Inc., Class A(a)		3,516		255,473
Dynatrace, Inc.(a)		10,555		446,476
Enphase Energy, Inc.(a)		1,138		239,299
Entegris, Inc.		5,056		414,643
EPAM Systems, Inc.(a)		676		202,124
F5, Inc.(a)		4,017		585,237
Fair Isaac Corp.(a)		1,253		880,471
Fidelity National Information Services, Inc.		7,621		414,049
First Solar, Inc.(a)		3,111		676,642
FleetCor Technologies, Inc.(a)		3,648		769,181
Fortinet, Inc.(a)		7,775		516,726
Gartner, Inc.(a)		1,998		650,888
Jack Henry & Associates, Inc.		4,578		689,996
Juniper Networks, Inc.		26,171		900,806
Information Technology (16.3%): (continued)
Keysight Technologies, Inc.(a)		4,007		647,050
KLA Corp.		1,548		617,915
Lam Research Corp.		1,256		665,831
Microchip Technology, Inc.		7,791		652,730
Monolithic Power Systems, Inc.		1,053		527,069
NetApp, Inc.		9,820		627,007
NVIDIA Corp.		2,874		798,311
NXP Semiconductors N.V.		3,263		608,468
ON Semiconductor Corp.(a)		5,756		473,834
Paychex, Inc.		6,518		746,898
Paycom Software, Inc.(a)		1,277		388,221
Paylocity Holding Corp.(a)		1,661		330,174
PTC, Inc.(a)		4,679		599,988
Qorvo, Inc.(a)		5,568		565,542
Roper Technologies, Inc.		2,221		978,772
Seagate Technology Holdings PLC		9,563		632,306
ServiceNow, Inc.(a)		1,074		499,109
Skyworks Solutions, Inc.		6,065		715,549
Synopsys, Inc.(a)		1,757		678,641
TD SYNNEX Corp.		7,404		716,633
TE Connectivity Ltd.		5,879		771,031
Teledyne Technologies, Inc.(a)		2,126		951,087

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Teradyne, Inc.		5,350		575,178
Trimble, Inc.(a)		10,228		536,152
Tyler Technologies, Inc.(a)		1,589		563,523
Western Digital Corp.(a)		13,147		495,247
Zebra Technologies Corp.(a)		1,881		598,158
				32,787,443
Materials (8.0%):
Albemarle Corp.		1,540		340,402
Avery Dennison Corp.		3,817		682,976
Ball Corp.		10,095		556,335
Celanese Corp.		6,175		672,396
CF Industries Holdings, Inc.		4,125		299,021
Eastman Chemical Co.		8,327		702,299
Ecolab, Inc.		4,445		735,781
FMC Corp.		6,183		755,130
Freeport-McMoRan, Inc.		13,963		571,226
International Flavors & Fragrances, Inc.		7,067		649,881
International Paper Co.		21,377		770,855
LyondellBasell Industries N.V., Class A		7,714		724,267
Martin Marietta Materials, Inc.		2,143		760,894
Newmont Corp.		13,523		662,898
Nucor Corp.		3,637		561,807
Packaging Corp. of America		5,748		797,995
PPG Industries, Inc.		5,344		713,852
Reliance Steel & Aluminum Co.		3,270		839,540
RPM International, Inc.		8,188		714,321
Materials (8.0%): (continued)
Steel Dynamics, Inc.		5,749		649,982
The Mosaic Co.		7,748		355,478
The Sherwin-Williams Co.		2,852		641,044
Vulcan Materials Co.		4,488		769,961
Westlake Chemical Corp.		5,937		688,573
Westrock Co.		17,018		518,538
				16,135,452
Utilities (9.9%):
Alliant Energy Corp.		18,505		988,167
Ameren Corp.		13,089		1,130,759
American Electric Power Co., Inc.		11,125		1,012,264
American Water Works Co., Inc.		6,063		888,169
Atmos Energy Corp.		9,804		1,101,578
CenterPoint Energy, Inc.		35,292		1,039,702

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
CMS Energy Corp.		16,998		1,043,337
Consolidated Edison, Inc.		11,696		1,118,956
Constellation Energy Corp.		5,029		394,777
DTE Energy Co.		9,518		1,042,602
Entergy Corp.		8,533		919,345
Essential Utilities, Inc.		20,396		890,285
Evergy, Inc.		17,149		1,048,147
Eversource Energy		12,650		989,989
FirstEnergy Corp.		25,271		1,012,356
NextEra Energy, Inc.		9,290		716,073
NiSource, Inc.		36,101		1,009,384
NRG Energy, Inc.		15,289		524,260
The Southern Co.		14,742		1,025,748
WEC Energy Group, Inc.		11,154		1,057,288
Xcel Energy, Inc.		16,110		1,086,458
				20,039,644
Total Common Stocks (Cost $187,776,735)				200,497,359
Right (0.0%)†
Health Care (0.0%):†
ABIOMED, Inc., CVR, Expiring  01/02/26(a)(b)		1,543		1,574
				1,574
Total Right (Cost $–)				1,574
Total Investments (Cost $187,776,735) — 99.5%				200,498,933
Other assets in excess of liabilities — 0.5%				1,125,176
NET ASSETS - 100.00%				201,624,109

Percentages indicated are based on net assets as of March 31, 2023.

† Represents less than 0.05%.

(a) Non-income producing security.

(b) Security was fair valued based upon procedures approved by the Board of Trustees and represents 0.0% of the Fund’s net assets as of March 31,2023. This security is classified as Level 3 within the fair value hierarchy.

CVR — Contingent Value Rights

Futures Contracts

Long Futures

Index Futures	Expiration Date	Number of Contracts	Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-mini	6/16/23	5	$	1,034,438	$	60,792
					$	60,792

	Schedule of Portfolio Investments
	March 31, 2023
Timothy Plan High Dividend Stock ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (99.4%)
Communication Services (0.3%):
Lumen Technologies, Inc.		180,861		479,282
				479,282
Consumer Discretionary (4.7%):
Darden Restaurants, Inc.		10,441		1,620,026
Garmin, Ltd.		19,697		1,987,821
Genuine Parts Co.		13,038		2,181,388
LKQ Corp.		27,589		1,565,952
Vail Resorts, Inc.		6,114		1,428,719
				8,783,906
Consumer Staples (6.5%):
Bunge, Ltd.		17,693		1,690,035
Campbell Soup Co.		41,935		2,305,586
Hormel Foods Corp.		50,269		2,004,728
McCormick & Co., Inc.		25,320		2,106,877
Sysco Corp.		22,433		1,732,501
The JM Smucker Co.		13,843		2,178,473
				12,018,200
Energy (9.4%):
Chesapeake Energy Corp.		11,062		841,154
ConocoPhillips		9,921		984,262
Coterra Energy, Inc.		36,822		903,612
Devon Energy Corp.		13,372		676,757
Diamondback Energy, Inc.		7,303		987,147
EOG Resources, Inc.		9,093		1,042,331
Kinder Morgan, Inc.		106,760		1,869,368
Marathon Petroleum Corp.		13,100		1,766,273
ONEOK, Inc.		26,474		1,682,158
Phillips 66		13,129		1,331,018
Pioneer Natural Resources Co.		5,141		1,049,998
Targa Resources Corp.		18,597		1,356,651
The Williams Cos., Inc.		58,026		1,732,656
Valero Energy Corp.		9,524		1,329,550
				17,552,935
Financials (11.0%):
Aflac, Inc.		36,866		2,378,594
American Financial Group, Inc.		14,442		1,754,703
Ares Management Corp., Class A		17,377		1,449,937
Cincinnati Financial Corp.		15,362		1,721,773
East West BanCorp, Inc.		18,531		1,028,471
Equitable Holdings, Inc.		50,721		1,287,806
Erie Indemnity Co., Class A		8,568		1,984,863
Everest Re Group, Ltd.		6,800		2,434,536
Franklin Resources, Inc.		65,620		1,767,803

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan High Dividend Stock ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Financials (11.0%): (continued)
Principal Financial Group, Inc.		21,357		1,587,252
Rocket Cos., Inc., Class A(a)		128,630		1,165,388
WR Berkley Corp.		29,866		1,859,457
				20,420,583
Health Care (1.9%):
Amgen, Inc.		9,626		2,327,085
Baxter International, Inc.		31,450		1,275,612
				3,602,697
Industrials (20.5%):
Caterpillar, Inc.		8,396		1,921,341
CH Robinson Worldwide, Inc.		15,276		1,517,976
Eaton Corp. PLC		13,213		2,263,915
Fastenal Co.		41,058		2,214,669
General Dynamics Corp.		9,560		2,181,688
Honeywell International, Inc.		11,545		2,206,480
Huntington Ingalls Industries, Inc.		8,796		1,820,948
Illinois Tool Works, Inc.		10,410		2,534,314
Johnson Controls International PLC		31,020		1,868,024
Masco Corp.		32,375		1,609,685
Norfolk Southern Corp.		8,244		1,747,728
PACCAR, Inc.		32,720		2,395,104
Parker Hannifin Corp.		6,280		2,110,771
Regal Rexnord Corp.		10,316		1,451,771
Rockwell Automation, Inc.		6,058		1,777,720
Snap-on, Inc.		9,088		2,243,736
TransDigm Group, Inc.		2,830		2,085,852
Union Pacific Corp.		10,229		2,058,689
Watsco, Inc.		6,651		2,116,082
				38,126,493
Information Technology (9.3%):
Analog Devices, Inc.		10,176		2,006,911
Broadcom, Inc.		3,191		2,047,154
Fidelity National Information Services, Inc.		18,692		1,015,536
Juniper Networks, Inc.		64,168		2,208,662
NetApp, Inc.		24,077		1,537,316
NXP Semiconductors N.V.		7,998		1,491,427
Paychex, Inc.		15,974		1,830,461
Seagate Technology Holdings PLC		23,444		1,550,117
Skyworks Solutions, Inc.		14,869		1,754,245
TE Connectivity Ltd.		14,424		1,891,708
				17,333,537
Materials (12.0%):
Celanese Corp.		15,136		1,648,159
Eastman Chemical Co.		20,424		1,722,560
FMC Corp.		15,158		1,851,246
Freeport-McMoRan, Inc.		34,248		1,401,086

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan High Dividend Stock ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Materials (12.0%): (continued)
International Flavors & Fragrances, Inc.		17,342		1,594,770
International Paper Co.		52,412		1,889,977
LyondellBasell Industries N.V., Class A		18,915		1,775,929
Newmont Corp.		33,151		1,625,062
Packaging Corp. of America		14,096		1,956,948
PPG Industries, Inc.		13,096		1,749,364
Reliance Steel & Aluminum Co.		8,017		2,058,285
RPM International, Inc.		20,080		1,751,779
Westrock Co.		41,743		1,271,909
				22,297,074
Utilities (23.8%):
Alliant Energy Corp.		45,381		2,423,345
Ameren Corp.		32,095		2,772,687
American Electric Power Co., Inc.		27,283		2,482,480
Atmos Energy Corp.		24,035		2,700,573
CenterPoint Energy, Inc.		86,532		2,549,233
CMS Energy Corp.		41,688		2,558,809
Consolidated Edison, Inc.		28,679		2,743,720
DTE Energy Co.		23,348		2,557,540
Entergy Corp.		20,924		2,254,352
Essential Utilities, Inc.		50,024		2,183,548
Evergy, Inc.		42,040		2,569,485
Eversource Energy		31,024		2,427,938
FirstEnergy Corp.		61,970		2,482,518
NiSource, Inc.		88,513		2,474,823
NRG Energy, Inc.		37,481		1,285,224
The Southern Co.		36,151		2,515,387
WEC Energy Group, Inc.		27,361		2,593,549
Xcel Energy, Inc.		39,498		2,663,745
				44,238,956
Total Common Stocks (Cost $183,600,226)				184,853,663
Total Investments (Cost $183,600,226) — 99.4%				184,853,663
Other assets in excess of liabilities — 0.6%				1,041,379
NET ASSETS - 100.00%				185,895,042

Percentages indicated are based on net assets as of March 31, 2023.

(a) Non-income producing security.

Futures Contracts

Long Futures

Index Futures	Expiration Date	Number of Contracts		Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-mini	6/16/23		4	$	827,550	$	38,756
						$	38,756

	Schedule of Portfolio Investments
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (98.8%)
Australia (6.2%): Communication Services (0.6%):
Rea Group Ltd.		1,853		170,931
Telstra Corp. Ltd.		111,300		313,892
				484,823
Consumer Discretionary (0.3%):
Wesfarmers Ltd.		6,949		233,362
				233,362
Consumer Staples (0.7%):
Coles Group, Ltd.		24,877		299,589
Woolworths Group Ltd.		12,141		307,515
				607,104
Energy (0.4%):
Santos Ltd.		33,608		154,976
Woodside Energy Group, Ltd.		6,618		147,457
				302,433
Financials (1.3%):
ASX Ltd.		5,361		232,951
Commonwealth Bank of Australia		3,543		232,801
National Australia Bank Ltd.		11,307		209,466
Suncorp Group Ltd.		29,383		237,801
Westpac Banking Corp.		15,237		220,562
				1,133,581
Health Care (1.1%):
Cochlear Ltd.		1,436		227,147
CSL Ltd.		1,221		235,252
Ramsay Health Care Ltd.		4,068		180,899
Sonic Healthcare Ltd.		10,548		245,596
				888,894
Industrials (0.3%):
Brambles Ltd.		26,806		240,592
				240,592
Information Technology (0.3%):
Computershare Ltd.		10,919		157,546
WiseTech Global Ltd.		3,084		134,256
				291,802
Materials (1.2%):
BHP Group, Ltd.		6,057		191,183
Fortescue Metals Group, Ltd.		11,497		172,801
Newcrest Mining Ltd.		14,599		261,963
Rio Tinto Ltd.		2,651		212,848
South32, Ltd.		55,498		162,081
				1,000,876
				5,183,467
Austria (0.5%):
Energy (0.2%):
OMV AG		3,224		147,745
				147,745

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Austria (0.5%): (continued)
Financials (0.2%):
Erste Group Bank AG		4,416		146,056
				146,056
Utilities (0.1%):
Verbund AG		1,397		121,192
				121,192
				414,993
Belgium (0.5%):
Financials (0.2%):
KBC Group N.V.		2,705		185,678
				185,678
Utilities (0.3%):
Elia Group SA		1,733		228,518
				228,518
				414,196
Bermuda (0.2%):
Industrials (0.2%):
Jardine Matheson Holdings Ltd.		4,200		203,994
				203,994
Canada (10.7%):
Consumer Discretionary (0.5%):
Dollarama, Inc.		3,895		232,812
Magna International, Inc.		2,787		149,301
				382,113
Consumer Staples (1.3%):
Alimentation Couche-Tard, Inc.		4,676		235,132
Loblaw Cos. Ltd.		3,158		287,850
Metro, Inc.		6,296		346,366
Saputo, Inc.		9,694		250,869
				1,120,217
Energy (2.0%):
ARC Resources Ltd.		8,417		95,488
Cameco Corp.		4,715		123,484
Canadian Natural Resources, Ltd.		2,736		151,429
Cenovus Energy, Inc.		6,809		118,816
Enbridge, Inc.		7,332		279,596
Imperial Oil Ltd.		3,196		162,555
Pembina Pipelines Corp.		7,063		228,830
Suncor Energy, Inc.		4,305		133,677
TC Energy Corp.		5,939		231,047
Tourmaline Oil Corp.		2,477		103,237
				1,628,159
Financials (1.8%):
Fairfax Financial Holdings, Ltd.		464		308,634
Great-West Lifeco, Inc.		12,400		328,697
Intact Financial Corp.		2,067		295,862
National Bank of Canada		4,027		288,086
Power Corp. of Canada		11,467		293,103
				1,514,382

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Canada (10.7%): (continued)
Industrials (1.1%):
Canadian National Railway Co.		2,264		267,180
Canadian Pacific Railway Ltd.		3,157		243,135
TFI International, Inc.		1,454		173,527
WSP Global, Inc.		1,764		231,097
				914,939
Information Technology (0.3%):
Constellation Software, Inc.		148		278,291
				278,291
Materials (1.8%):
Aginco Eagle Mines Ltd.		3,409		173,818
Barrick Gold Corp.		11,712		217,460
CCL Industries, Inc., Class B		4,827		239,832
First Quantum Minerals, Ltd.		4,987		114,664
Franco-Nevada Corp.		1,732		252,667
Nutrien, Ltd.		1,716		126,748
Teck Resources Ltd., Class B		3,431		125,301
Wheaton Precious Metals Corp.		5,551		267,383
				1,517,873
Utilities (1.9%):
Algonquin Power & Utilities Corp.		29,120		244,373
Emera, Inc.		9,421		387,075
Fortis, Inc.		9,997		425,018
Hydro One, Ltd.		17,563		500,129
				1,556,595
				8,912,569
Chile (0.2%):
Materials (0.2%):
Antofagasta PLC		9,747		190,066
				190,066
Denmark (1.9%):
Financials (0.6%):
Danske Bank A/S (a)		12,392		248,973
Tryg A/S		11,087		241,962
				490,935
Health Care (0.5%):
Coloplast A/S		1,599		209,938
Genmab A/S (a)		424		159,819
				369,757
Industrials (0.4%):
AP Moller - Maersk A/S, Class B		70		126,831
DSV Panalpina A S		1,224		236,385
				363,216
Materials (0.2%):
Novozymes A/S, Class B Shares		3,495		178,551
				178,551

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Denmark (1.9%): (continued)
Utilities (0.2%):
Orsted A/S		1,574		133,692
				133,692
				1,536,151
Finland (1.5%):
Energy (0.1%):
Neste Oyj		2,593		127,742
				127,742
Financials (0.5%):
Nordea Bank Abp		18,204		194,125
Sampo Oyj, Class A Shares		4,429		208,826
				402,951
Industrials (0.3%):
Kone OYJ		4,248		221,113
				221,113
Information Technology (0.2%):
Nokia Oyj		38,418		188,118
				188,118
Materials (0.4%):
Stora ENSO OYJ, Class R Shares		10,232		132,925
UPM-Kymmene OYJ (a)		4,851		162,810
				295,735
				1,235,659
France (6.6%):
Communication Services (0.3%):
Bollore		40,707		251,171
				251,171
Consumer Discretionary (0.6%):
Cie Generale des Etablissements Michelin SCA (a)		6,992		213,398
Hermes International SA		118		238,516
				451,914
Consumer Staples (0.4%):
Carrefour SA		14,528		293,500
				293,500
Energy (0.2%):
TotalEnergies SE		3,254		191,816
				191,816
Financials (0.6%):
Amundi SA		3,437		216,357
Credit Agricole SA		16,677		188,043
Societe Generale SA		5,107		115,108
				519,508
Health Care (0.6%):
bioMerieux		1,930		203,010
EssilorLxottica SA		1,076		193,691
Sartorius Stedim Biotech		383		117,122
				513,823
Industrials (2.5%):
Aeroports de Paris (a)		1,378		196,725

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
France (6.6%): (continued)
Industrials (2.5%): (continued)
Bouygues SA		8,734		294,458
Bureau Veritas SA		8,525		244,702
Eiffage SA		2,177		235,460
Legrand SA		2,727		248,638
Schneider Electric SA		1,292		215,312
Teleperformance		688		165,403
Thales SA		1,593		235,537
Vinci SA		2,195		251,640
				2,087,875
Information Technology (0.5%):
Dassault Systemes SE		4,845		198,992
Edenred		4,128		244,143
				443,135
Materials (0.4%):
Air Liquide SA		1,792		299,648
				299,648
Utilities (0.5%):
Engie SA		12,824		202,671
Veolia Environnement		6,569		202,305
				404,976
				5,457,366
Germany (5.4%):
Consumer Discretionary (0.4%):
Continental AG		2,395		178,994
Puma SE		2,730		168,329
				347,323
Consumer Staples (0.3%):
Beiersdorf AG		2,039		265,220
				265,220
Financials (1.2%):
Deutsche Boerse AG		1,391		270,682
Hannover Rueck SE		1,050		205,350
Muenchener Rueckversicherungs-Gesellschaft AG		720		251,798
Talanx AG		5,023		232,584
				960,414
Health Care (0.5%):
Carl Zeiss Meditec AG		1,146		159,068
Fresenius Medical Care AG		6,162		261,269
				420,337
Industrials (1.0%):
Brenntag AG		2,995		224,746
Daimler Truck Holding AG (a)		5,269		177,753
Deutsche Post AG		4,441		207,514
MTU Aero Engines AG		868		217,054
				827,067
Information Technology (0.3%):
Infineon Technologies AG		5,354		218,765
				218,765

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Germany (5.4%): (continued)
Materials (1.0%):
BASF SE		3,314		173,791
Evonik Industries AG		9,118		191,423
HeidelbergCement AG		3,605		262,937
Symrise AG		1,972		214,271
				842,422
Real Estate (0.2%):
Vonovia Se		7,214		135,648
				135,648
Utilities (0.5%):
E.ON SE		22,536		281,037
RWE AG		4,026		173,060
				454,097
				4,471,293
Hong Kong (4.4%):
Consumer Staples (0.2%):
WH Group Ltd.		315,799		188,280
				188,280
Financials (0.6%):
AIA Group Ltd.		21,833		229,881
Hang Seng Bank, Ltd.		16,706		237,724
				467,605
Health Care (0.2%):
Sino Biopharmaceutical Ltd.		279,463		156,648
				156,648
Industrials (0.5%):
CK Hutchison Holdings, Ltd.		49,051		304,315
Techtronic Industries Co.		11,801		127,561
				431,876
Real Estate (2.1%):
CK Asset Holdings Ltd.		42,399		257,374
Henderson Land Development Co., Ltd.		89,318		308,927
Hongkong Land Holdings Ltd.		51,000		223,890
Sino Land Co., Ltd.		203,280		275,021
Sun Hung Kai Properties Ltd.		27,881		390,704
Swire Pacific Ltd., Class A		27,363		210,198
The Wharf Holdings Ltd		49,208		112,587
				1,778,701
Utilities (0.8%):
Hong Kong & China Gas Co. Ltd.		285,999		251,762
Power Assets Holdings, Ltd.		74,308		398,533
				650,295
				3,673,405
Ireland (1.2%):
Consumer Staples (0.3%):
Kerry Group PLC		2,372		236,230
				236,230
Industrials (0.4%):
Kingspan Group PLC		2,312		158,050

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Ireland (1.2%): (continued) Industrials (0.4%): (continued)
Ryanair Holdings PLC (a)		12,139		195,873
				353,923
Materials (0.5%):
CRH PLC		4,856		244,730
Smurfit Kappa Group PLC		4,614		166,764
				411,494
				1,001,647
Israel (1.2%):
Financials (0.6%):
Bank Hapoalim BM		19,673		162,865
Bank Leumi		18,992		142,693
Mizrahi Tefahot Bank Ltd.		5,004		156,236
				461,794
Industrials (0.1%):
Elbit Systems Ltd.		716		121,339
				121,339
Information Technology (0.2%):
Nice Ltd. (a)		901		201,883
				201,883
Materials (0.1%):
ICL Group, Ltd.		15,778		105,945
				105,945
Real Estate (0.2%):
Azrieli Group Ltd.		2,371		135,783
				135,783
				1,026,744
Italy (3.1%):
Communication Services (0.4%):
Infrastrutture Wireless Italiane SpA		24,991		328,455
				328,455
Consumer Discretionary (0.2%):
Moncler SpA		2,873		197,957
				197,957
Energy (0.3%):
Eni SpA		14,916		208,753
				208,753
Financials (1.0%):
Assicurazioni Generali SpA		13,225		263,591
Intesa Sanpaolo SpA		74,757		191,925
Poste Italiane SpA		19,965		203,770
UniCredit SpA		9,472		178,825
				838,111
Information Technology (0.2%):
Nexi SpA (a)		15,379		124,844
				124,844
Utilities (1.0%):
Enel SpA		43,293		264,170
Snam SpA		56,537		299,738

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Italy (3.1%): (continued) Utilities (1.0%): (continued)
Terna SpA		32,947		270,316
				834,224
				2,532,344
Japan (18.9%):
Communication Services (1.5%):
KDDI Corp.		10,000		308,301
Nexon Co. Ltd.		9,700		230,517
Nippon Telegraph & Telephone Corp.		11,000		328,277
Softbank Corp.		32,800		377,758
				1,244,853
Consumer Discretionary (1.7%):
Bridgestone Corp.		5,600		226,387
Denso Corp.		3,400		190,616
Fast Retailing Co. Ltd.		900		195,782
Oriental Land Co., Ltd.		6,500		221,693
Panasonic Corp.		30,000		267,099
Shimano ORD		900		154,836
Suzuki Motor Co.		5,400		195,402
				1,451,815
Consumer Staples (1.8%):
Aeon Co. Ltd.		11,300		218,408
Ajinomoto Co., Inc.		7,400		256,737
KAO Corp.		6,000		233,519
Seven & i Holdings Co., Ltd.		6,000		270,036
Shiseido Co., Ltd.		4,900		228,133
Unicharm Corp.		6,700		274,591
				1,481,424
Energy (0.1%):
Inpex Corp.		12,600		132,587
				132,587
Financials (2.6%):
Dai-ichi Life Holdings, Inc.		12,100		221,930
Japan Post Holdings Co. Ltd.		42,500		344,616
Mitsubishi UFJ Financial Group, Inc.		50,800		324,445
MS&AD Insurance Group Holdings, Inc.		8,400		259,795
ORIX Corp.		13,800		226,241
Sompo Holdings, Inc.		5,200		205,713
Sumitomo Mitsui Financial Group, Inc.		9,100		363,150
Tokio Marine Holdings, Inc.		12,100		232,138
				2,178,028
Health Care (1.8%):
Astellas Pharma, Inc.		15,900		225,517
Chugai Pharmaceutical Co. Ltd.		8,000		197,047
Daiichi Sankyo Co. Ltd.		4,600		167,077
Eisai Co. Ltd.		2,900		163,917
Hoya Corp.		1,600		175,475
M3, Inc.		4,000		99,458
Olympus Corp.		6,900		120,501

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Japan (18.9%): (continued) Health Care (1.8%): (continued)
Shionogi & Co. Ltd.		3,200		144,068
Terumo Corp.		7,000		188,445
				1,481,505
Industrials (4.6%):
Central Japan Railway Co.		2,000		238,174
Daikin Industries Ltd.		1,200		213,814
Fanuc Corp.		6,500		233,052
Hitachi, Ltd.		4,100		223,962
ITOCHU Corp.		8,900		288,332
Komatsu Ltd.		10,400		256,710
Kubota Corp.		12,600		189,721
Marubeni Corp.		21,200		286,717
Mitsubishi Corp.		7,100		254,083
Mitsubishi Electric Corp.		24,400		290,113
Nidec Corp.		3,100		159,834
Secom Co. Ltd.		4,200		258,277
SMC Corp.		400		210,395
Sumitomo Corp.		17,800		313,873
Toshiba Corp.		5,800		194,193
Toyota Industries Corp.		3,700		204,843
				3,816,093
Information Technology (3.0%):
Canon, Inc.		11,600		258,239
Fujifilm Holdings Corp.		4,800		242,169
Fujitsu, Ltd.		1,500		201,510
Keyence Corp.		500		242,731
Kyocera Corp.		5,000		259,415
Murata Manufacturing Co. Ltd.		4,200		254,354
Nomura Research Institute Ltd.		7,000		161,607
NTT Data Corp.		13,200		172,209
OBIC Co. Ltd.		1,400		220,398
Renesas Electronics Corp. (a)		16,600		239,260
Tokyo Electron Ltd.		1,800		217,475
				2,469,367
Materials (0.9%):
Nippon Paint Holdings Co. Ltd.		18,400		171,582
Nippon Steel Corp.		12,400		291,413
Shin-Etsu Chemical Co. Ltd.		8,500		273,708
				736,703
Real Estate (0.9%):
Daiwa House Industry Co. Ltd.		12,400		290,853
Mitsubishi Estate Co. Ltd.		18,100		214,934
Mitsui Fudosan Co. Ltd.		11,800		220,783
				726,570
				15,718,945
Korea, Republic Of (6.5%):
Communication Services (0.5%):
Kakao Corp.		3,885		182,356

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Korea, Republic Of (6.5%): (continued) Communication Services (0.5%): (continued)
Naver Corp.		1,314		203,909
				386,265
Consumer Discretionary (1.1%):
Hyundai Mobis		1,336		221,692
Hyundai Motor Co.		1,655		234,576
Kia Corp.		3,954		246,043
LG Electronics, Inc.		2,785		246,685
				948,996
Consumer Staples (0.2%):
LG Household & Health Care Ltd.		352		162,250
				162,250
Energy (0.4%):
SK Innovation Co. Ltd. (a)		1,327		182,785
S-Oil Corp.		2,440		150,145
				332,930
Financials (1.2%):
Hana Financial Group, Inc.		6,331		197,950
KakaoBank Corp.		10,267		190,480
KB Financial Group, Inc.		5,288		193,572
Samsung Life Insurance Co., Ltd.		4,483		216,281
Shinhan Financial Group Co. Ltd.		8,168		221,817
				1,020,100
Health Care (0.4%):
Celltrion, Inc.		1,156		132,987
Samsung Biologics Co., Ltd. (a)		332		200,980
				333,967
Industrials (0.9%):
Doosan Enerbility Co., Ltd. (a)		13,091		170,967
LG Corp.		3,484		221,614
Samsung C&T Corp.		2,396		199,161
SK, Inc.		1,257		166,576
				758,318
Information Technology (0.8%):
Samsung Electronics Co. Ltd.		5,656		278,086
Samsung SDI Co. Ltd.		330		186,333
SK Hynix, Inc.		2,365		160,973
				625,392
Materials (1.0%):
Korea Zinc Co., Ltd.		370		157,187
LG Chem Ltd.		285		155,888
POSCO Future M Co., Ltd.		1,019		213,319
POSCO Holdings, Inc.		1,011		285,817
				812,211
				5,380,429
Luxembourg (0.6%):
Energy (0.2%):
Tenaris SA		9,044		128,476
				128,476

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Luxembourg (0.6%): (continued) Health Care (0.2%):
Eurofins Scientific SE		2,620		175,127
				175,127
Materials (0.2%):
ArcelorMittal SA		5,591		168,972
				168,972
				472,575
Netherlands (2.5%):
Consumer Discretionary (0.2%):
Prosus N.V.		1,857		144,867
				144,867
Financials (0.6%):
ABN AMRO Bank N.V.		14,081		223,239
ING Groep N.V.		13,827		163,884
NN Group N.V.		3,826		138,823
				525,946
Industrials (0.6%):
Randstad N.V.		3,296		195,150
Wolters Kluwer N.V.		2,341		295,363
				490,513
Information Technology (0.6%):
Adyen N.V. (a)		76		120,259
ASM International N.V.		474		191,159
ASML Holding N.V.		317		214,915
				526,333
Materials (0.5%):
AKZO Nobel N.V		2,591		202,241
Koninklijke DSM N.V.		1,389		163,727
				365,968
				2,053,627
Norway (1.8%):
Communication Services (0.5%):
Adevinta ASA (a)		11,069		78,536
Telenor ASA		25,590		300,041
				378,577
Consumer Staples (0.2%):
Mowi ASA		11,378		210,275
				210,275
Energy (0.3%):
Aker BP ASA		4,121		100,929
Equinor ASA		4,086		116,627
				217,556
Financials (0.4%):
DNB Bank ASA		10,466		187,369
Gjensidige Forsikring ASA		11,612		190,077
				377,446
Materials (0.4%):
Norsk Hydro ASA		19,671		146,241

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Norway (1.8%): (continued) Materials (0.4%): (continued)
Yara International ASA		3,817		165,557
				311,798
				1,495,652
Portugal (0.8%):
Consumer Staples (0.3%):
Jeronimo Martins & Filho SA		10,441		244,786
				244,786
Energy (0.2%):
Galp Energia SGPS SA		14,395		163,280
				163,280
Utilities (0.3%):
EDP - Energias de Portugal SA		48,020		261,197
				261,197
				669,263
Russian Federation (0.0%):†
Materials (0.0%):†
Evraz PLC (a)(b)		38,723		19,343
				19,343
Singapore (3.2%):
Communication Services (0.4%):
Singapore Telecommunications, Ltd.		183,700		339,649
				339,649
Consumer Staples (0.4%):
Wilmar International Ltd.		106,100		335,724
				335,724
Financials (1.2%):
DBS Group Holdings Ltd.		12,400		307,554
Oversea-Chinese Banking Corp. Ltd.		39,500		367,242
United Overseas Bank		15,600		348,933
				1,023,729
Industrials (0.8%):
Jardine Cycle & Carriage Ltd.		9,800		230,397
Keppel Corp. Ltd.		97,600		412,994
				643,391
Real Estate (0.4%):
Capitaland Investment Ltd.		104,500		289,034
				289,034
				2,631,527
Spain (3.2%):
Consumer Discretionary (0.3%):
Industria de Diseno Textil SA		7,736		259,217
				259,217
Energy (0.2%):
Repsol SA		12,447		191,462
				191,462
Financials (0.2%):
Caixabank SA		39,224		152,444
				152,444

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Spain (3.2%): (continued) Industrials (0.6%):
Aena SME SA (a)		1,725		278,531
Ferrovial SA		8,433		247,731
				526,262
Information Technology (0.3%):
Amadeus IT Group SA (a)		3,241		216,706
				216,706
Utilities (1.6%):
Acciona SA		1,131		226,526
Endesa SA		13,896		301,376
Iberdrola SA		22,516		280,422
Naturgy Energy Group SA		7,619		229,271
Red Electrica Corp. SA		15,693		275,683
				1,313,278
				2,659,369
Sweden (3.8%):
Communication Services (0.2%):
Telia Co. AB		82,008		208,435
				208,435
Consumer Staples (0.3%):
Essity Aktiebolag, Class B		8,075		230,688
				230,688
Financials (1.0%):
EQT AB		4,873		98,914
L E Lundbergforetagen AB, Class B		4,122		186,211
Skandinavisk Enskilda Banken AB (a)		15,258		168,166
Svenska Handelsbanken AB		21,158		183,209
Swedbank AB, Class A Shares		11,601		190,253
				826,753
Industrials (1.5%):
ALFA Laval AB		5,507		196,231
ASSA Abloy AB		8,318		199,067
Atlas Copco AB, Class A		13,751		174,339
Epiroc AB, Class A		9,277		184,016
Nibe Industrier AB, Class B		13,082		148,533
Sandvik AB		9,450		200,200
Volvo AB		9,462		195,028
				1,297,414
Information Technology (0.4%):
Hexagon AB, Class B		15,718		180,053
Telefonaktiebolaget LM Ericsson, Class B		21,869		127,733
				307,786
Materials (0.4%):
Boliden AB		3,879		152,465
Svenska Cellulosa AB SCA, Class B		12,240		160,975
				313,440
				3,184,516

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Switzerland (7.5%): Communication Services (0.5%):
Swisscom AG		738		470,539
				470,539
Consumer Discretionary (0.5%):
CIE Financiere Richemont SA		1,232		196,511
The Swatch Group AG		687		235,384
				431,895
Consumer Staples (0.7%):
Barry Callebaut AG		149		315,853
Chocoladefabriken Lindt & Spruengli AG		22		259,758
				575,611
Financials (1.2%):
Julius Baer Group Ltd.		3,537		240,982
Partners Group Holding AG		173		162,049
Swiss Life Holding AG		462		284,463
Swiss Re AG		2,877		295,154
				982,648
Health Care (1.0%):
Alcon, Inc.		3,226		228,186
Lonza Group AG, Registered		332		198,685
Sonova Holding AG		632		185,586
Straumann Holding AG, Class R		1,288		191,996
				804,453
Industrials (1.5%):
ABB Ltd.		7,505		257,387
Geberit AG		450		250,508
Kuehne & Nagel International AG		794		236,021
Schindler Holding AG		1,213		268,009
SGS SA		103		226,449
				1,238,374
Information Technology (0.5%):
Logitech International SA, Class R		3,407		197,783
STMicroelectronics N.V.		4,398		233,475
				431,258
Materials (1.6%):
EMS-Chemie Holding AG		291		239,875
Givaudan SA		66		214,516
Glencore PLC		23,698		135,798
Holcim, Ltd.		4,684		301,616
SIG Group AG		9,126		234,660
Sika AG		732		204,467
				1,330,932
				6,265,710
United Kingdom (5.7%):
Communication Services (0.5%):
BT Group PLC		127,390		229,084
Informa PLC		25,462		217,509
				446,593

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
United Kingdom (5.7%): (continued) Consumer Discretionary (0.3%):
Next PLC		2,947		238,880
				238,880
Consumer Staples (0.6%):
Associated British Foods PLC		11,492		274,979
Haleon PLC (a)		51,149		203,140
				478,119
Financials (1.2%):
3I Group PLC		12,233		254,235
Legal & General Group PLC		62,122		183,047
Lloyds Banking Group PLC		294,572		173,215
London Stock Exchange Group		2,242		217,572
Standard Chartered PLC		21,288		161,267
				989,336
Health Care (0.3%):
Smith & Nephew PLC		15,955		220,797
				220,797
Industrials (1.7%):
Ashtead Group PLC		2,879		176,056
Bunzl PLC		7,138		269,138
Ferguson PLC		1,696		222,781
RELX PLC		9,733		314,281
Rentokil Initial PLC		34,487		251,644
Spirax-Sarco Engineering PLC		1,366		199,735
				1,433,635
Information Technology (0.2%):
Halma PLC		7,125		195,883
				195,883
Materials (0.6%):
Anglo American PLC		4,153		137,175
Croda International PLC		2,248		180,168
Rio Tinto PLC		2,913		196,818
				514,161
Utilities (0.3%):
SSE PLC		11,119		247,266
				247,266
				4,764,670
United States (0.7%):
Industrials (0.4%):
Waste Connections, Inc.		2,371		330,042
				330,042
Utilities (0.3%):
Brookfield Renewable Corp., Class A		6,802		237,891
				237,891
				567,933
Total Common Stocks (Cost $81,728,949)				82,137,453
Total Investments (Cost $81,728,949) — 98.8%				82,137,453
Other assets in excess of liabilities — 1.2%				979,490

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan International ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES	VALUE ($)
United States (0.7%): (continued) Utilities (0.3%): (continued)
NET ASSETS - 100.00%			83,116,943

Percentages indicated are based on net assets as of March 31, 2023.

† Represents less than 0.05%.

(a) Non-income producing security.

(b) Security was fair valued based upon procedures approved by the Board of Trustees and represents 0.0% of the Fund’s net assets as of March 31,2023. This security is classified as Level 3 within the fair value hierarchy.

Futures Contracts

Long Futures
Index Futures	Expiration Date	Number of Contracts		Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
Mini MSCI EAFE Index	6/16/23	4	$	419,300	$	11,179
					$	11,179

Schedule of Portfolio Investments

March 31, 2023

Timothy Plan US Large/Mid Cap Core Enhanced ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (99.8%)
Communication Services (0.9%):
Endeavor Group Holdings, Inc., Class A(a)		6,863		164,232
Lumen Technologies, Inc.		22,974		60,881
News Corp., Class A		11,234		194,011
The Trade Desk, Inc., Class A(a)		1,372		83,569
ZoomInfo Technologies, Inc.(a)		2,272		56,141
				558,834
Consumer Discretionary (7.9%):
Aptiv PLC(a)		1,473		165,256
Aramark		5,670		202,986
AutoZone, Inc.(a)		91		223,692
Burlington Stores, Inc.(a)		979		197,856
CarMax, Inc.(a)		1,985		127,596
Chipotle Mexican Grill, Inc.(a)		98		167,412
Darden Restaurants, Inc.		1,326		205,742
Dollar General Corp.		782		164,580
Dollar Tree, Inc.(a)		1,055		151,445
Domino's Pizza, Inc.		622		205,179
DR Horton, Inc.		2,112		206,321
Garmin, Ltd.		2,502		252,502
Genuine Parts Co.		1,656		277,065
Lennar Corp.		1,972		207,277
LKQ Corp.		3,504		198,887
Lowe's Cos., Inc.		1,053		210,568
NVR, Inc.(a)		46		256,321
O'Reilly Automotive, Inc.(a)		278		236,017
Pool Corp.		501		171,563
Pultegroup, Inc.		3,888		226,593
Ross Stores, Inc.		1,656		175,751
Service Corp.		3,455		237,635
Tesla, Inc.(a)		490		101,655
Tractor Supply Co.		879		206,600
Vail Resorts, Inc.		777		181,569
				4,958,068
Consumer Staples (4.0%):
BJ's Wholesale Club Holdings, Inc.(a)		2,036		154,879
Bunge, Ltd.		2,247		214,633
Campbell Soup Co.		5,327		292,879
Costco Wholesale Corp.		436		216,635
Darling Ingredients, Inc.(a)		1,915		111,836
Hormel Foods Corp.		6,385		254,634
Lamb Weston Holdings, Inc.		2,490		260,255
McCormick & Co., Inc.		3,216		267,603
Monster Beverage Corp.(a)		4,798		259,140
Sysco Corp.		2,849		220,028

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Large/Mid Cap Core Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Consumer Staples (4.0%): (continued)
The JM Smucker Co.		1,758		276,656
				2,529,178
Energy (5.3%):
Antero Resources Corp.(a)		3,029		69,940
APA Corp.		2,659		95,883
Chesapeake Energy Corp.		1,405		106,836
ConocoPhillips		1,260		125,005
Coterra Energy, Inc.		4,677		114,774
Devon Energy Corp.		1,699		85,986
Diamondback Energy, Inc.		942		127,330
EOG Resources, Inc.		1,155		132,398
Halliburton Co.		4,260		134,786
Hess Corp.		1,170		154,838
HF Sinclair Corp.		2,277		110,161
Kinder Morgan, Inc.		13,561		237,453
Marathon Oil Corp.		4,414		105,759
Marathon Petroleum Corp.		1,664		224,357
Occidental Petroleum Corp.		1,656		103,384
ONEOK, Inc.		3,363		213,685
Ovintiv, Inc.		2,059		74,289
Phillips 66		1,668		169,102
Pioneer Natural Resources Co.		653		133,369
Schlumberger Ltd.		2,988		146,711
Targa Resources Corp.		2,362		172,308
Texas Pacific Land Corp.		62		105,463
The Williams Cos., Inc.		7,371		220,098
Valero Energy Corp.		1,210		168,916
				3,332,831
Financials (11.1%):
Aflac, Inc.		4,683		302,147
American Financial Group, Inc.		1,889		229,514
Arch Capital Group Ltd.(a)		5,414		367,448
Ares Management Corp., Class A		2,207		184,152
Arthur J Gallagher & Co.		1,415		270,704
Brown & Brown, Inc.		3,604		206,942
Cboe Global Markets, Inc.		2,203		295,731
Cincinnati Financial Corp.		1,951		218,668
East West BanCorp, Inc.		2,354		130,647
Equitable Holdings, Inc.		6,443		163,588
Erie Indemnity Co., Class A		1,088		252,046
Everest Re Group, Ltd.		864		309,329
FactSet Research Systems, Inc.		567		235,356
First Citizens BancShares, Inc., Class A		209		203,378
First Republic Bank		1,623		22,706
Franklin Resources, Inc.		8,335		224,545
Globe Life, Inc.		2,357		259,317
Interactive Brokers Group, Inc.		2,578		212,840
Intercontinental Exchange, Inc.		2,446		255,093

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Large/Mid Cap Core Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Financials (11.1%): (continued)
LPL Financial Holdings, Inc.		639		129,334
Markel Corp.(a)		231		295,082
MarketAxess Holdings, Inc.		752		294,250
Morningstar, Inc.		803		163,033
MSCI, Inc.		432		241,786
Nasdaq, Inc.		4,503		246,179
Principal Financial Group, Inc.		2,713		201,630
Raymond James Financial, Inc.		1,864		173,855
Rocket Cos., Inc., Class A(a)		16,339		148,031
Ryan Specialty Holdings, Inc.(a)		4,081		164,219
Tradeweb Markets, Inc., Class A		3,874		306,124
WR Berkley Corp.		3,794		236,214
				6,943,888
Health Care (12.7%):
Agilent Technologies, Inc.		1,445		199,901
Align Technology, Inc.(a)		555		185,448
Amgen, Inc.		1,223		295,660
Avantor, Inc.(a)		8,491		179,500
Baxter International, Inc.		3,995		162,037
BioMarin Pharmaceutical, Inc.(a)		2,093		203,523
Catalent, Inc.(a)		2,101		138,057
Centene Corp.(a)		2,721		171,994
Charles River Laboratories International, Inc.(a)		718		144,907
Danaher Corp.		773		194,827
Dexcom, Inc.(a)		1,223		142,088
Edwards Lifesciences Corp.(a)		2,074		171,582
HCA Healthcare, Inc.		716		188,795
Henry Schein, Inc.(a)		3,773		307,650
Horizon Therapeutics PLC(a)		2,443		266,629
Humana, Inc.		482		233,992
IDEXX Laboratories, Inc.(a)		475		237,538
Incyte Corp.(a)		3,335		241,021
Insulet Corp.(a)		522		166,497
Intuitive Surgical, Inc.(a)		790		201,821
IQVIA Holdings, Inc.(a)		1,041		207,045
Mettler-Toledo International, Inc.(a)		158		241,773
Moderna, Inc.(a)		664		101,977
Neurocrine Biosciences, Inc.(a)		1,727		174,807
PerkinElmer, Inc.		1,435		191,228
R1 RCM, Inc.(a)		8,007		120,105
Regeneron Pharmaceuticals, Inc.(a)		242		198,844
Repligen Corp.(a)		578		97,312
ResMed, Inc.		911		199,500
Shockwave Medical, Inc.(a)		347		75,240
STERIS PLC		1,192		228,006
Stryker Corp.		986		281,473
Teleflex, Inc.		958		242,671
United Therapeutics Corp.(a)		851		190,590

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Large/Mid Cap Core Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Health Care (12.7%): (continued)
Veeva Systems, Inc., Class A(a)		829		152,362
Vertex Pharamaceuticals, Inc.(a)		692		218,028
Waters Corp.(a)		685		212,097
West Pharmaceutical Services, Inc.		720		249,458
Zimmer Biomet Holdings, Inc.		1,914		247,289
Zoetis, Inc.		1,540		256,318
				7,919,590
Industrials (23.6%):
Advanced Drainage Systems, Inc.		1,096		92,294
AECOM		3,095		260,970
AMETEK, Inc.		2,394		347,920
Builders FirstSource, Inc.(a)		2,121		188,302
Carlisle Companies, Inc.		729		164,805
Carrier Global Corp.		5,723		261,827
Caterpillar, Inc.		1,066		243,943
CH Robinson Worldwide, Inc.		1,940		192,778
Cintas Corp.		630		291,488
Copart, Inc.(a)		3,417		256,993
Costar Group, Inc.(a)		1,915		131,848
CSX Corp.		8,165		244,460
Deere & Co.		473		195,292
Dover Corp.		1,895		287,926
Eaton Corp. PLC		1,678		287,509
Equifax, Inc.		1,139		231,035
Expeditors International of Washington, Inc.		2,315		254,928
Fastenal Co.		5,215		281,297
Fortive Corp.		3,606		245,821
Generac Holdings, Inc.(a)		700		75,607
General Dynamics Corp.		1,214		277,047
Graco, Inc.		4,052		295,837
HEICO Corp.		1,656		283,242
Honeywell International, Inc.		1,466		280,182
Howmet Aerospace, Inc.		5,728		242,695
Hubbell, Inc.		1,024		249,149
Huntington Ingalls Industries, Inc.		1,117		231,241
IDEX Corp.		1,282		296,180
Illinois Tool Works, Inc.		1,322		321,841
Ingersoll Rand, Inc.		4,021		233,942
J.B. Hunt Transport Services, Inc.		1,145		200,902
Johnson Controls International PLC		3,940		237,267
Leidos Holdings, Inc.		2,807		258,412
Masco Corp.		4,112		204,449
Nordson Corp.		1,120		248,931
Norfolk Southern Corp.		1,047		221,964
Old Dominion Freight Line, Inc.		581		198,028
Otis Worldwide Corp.		3,708		312,955
PACCAR, Inc.		4,158		304,366
Parker Hannifin Corp.		798		268,216

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan US Large/Mid Cap Core Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Industrials (23.6%): (continued)
Quanta Services, Inc.		1,297		216,132
Regal Rexnord Corp.		1,310		184,356
Republic Services, Inc.		2,273		307,355
Rockwell Automation, Inc.		770		225,957
Rollins, Inc.		6,317		237,077
Snap-on, Inc.		1,154		284,911
SS&C Technologies Holdings, Inc.		4,654		262,811
Textron, Inc.		3,087		218,035
Trane Technologies PLC		1,503		276,522
TransDigm Group, Inc.		359		264,601
TransUnion		3,076		191,143
U-Haul Holding Co.		4,509		268,962
Union Pacific Corp.		1,299		261,437
United Rentals, Inc.		552		218,460
Verisk Analytics, Inc.		1,479		283,761
Waste Management, Inc.		1,928		314,592
Watsco, Inc.		845		268,845
Westinghouse Air Brake Technologies Corp.		2,275		229,912
WW Grainger, Inc.		450		309,964
Xylem, Inc.		2,036		213,169
				14,741,891
Information Technology (16.3%):
Advanced Micro Devices, Inc.(a)		1,867		182,985
Akamai Technologies, Inc.(a)		2,730		213,759
Amphenol Corp., Class A		3,300		269,676
Analog Devices, Inc.		1,292		254,808
ANSYS, Inc.(a)		756		251,597
Arista Networks, Inc.(a)		1,498		251,454
Bentley Systems, Inc., Class B		4,005		172,175
Broadcom, Inc.		405		259,824
Cadence Design Systems, Inc.(a)		1,058		222,275
CDW Corp.		1,345		262,127
Cognizant Technology Solutions Corp., Class A		3,426		208,746
Datadog, Inc., Class A(a)		1,095		79,563
Dynatrace, Inc.(a)		3,288		139,082
Enphase Energy, Inc.(a)		353		74,229
Entegris, Inc.		1,575		129,166
EPAM Systems, Inc.(a)		210		62,790
F5, Inc.(a)		1,252		182,404
Fair Isaac Corp.(a)		389		273,346
Fidelity National Information Services, Inc.		2,374		128,979
First Solar, Inc.(a)		968		210,540
FleetCor Technologies, Inc.(a)		1,137		239,736
Fortinet, Inc.(a)		2,423		161,033
Gartner, Inc.(a)		623		202,955
Jack Henry & Associates, Inc.		1,426		214,927
Juniper Networks, Inc.		8,151		280,557
Keysight Technologies, Inc.(a)		1,249		201,689

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core Enhanced ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Information Technology (16.3%): (continued)
KLA Corp.		483		192,799
Lam Research Corp.		390		206,747
Microchip Technology, Inc.		2,425		203,167
Monolithic Power Systems, Inc.		328		164,177
NetApp, Inc.		3,058		195,253
NVIDIA Corp.		894		248,326
NXP Semiconductors N.V.		1,016		189,459
ON Semiconductor Corp.(a)		1,794		147,682
Paychex, Inc.		2,029		232,503
Paycom Software, Inc.(a)		398		120,996
Paylocity Holding Corp.(a)		518		102,968
PTC, Inc.(a)		1,457		186,831
Qorvo, Inc.(a)		1,733		176,021
Roper Technologies, Inc.		692		304,957
Seagate Technology Holdings PLC		2,978		196,905
ServiceNow, Inc.(a)		335		155,681
Skyworks Solutions, Inc.		1,889		222,864
Synopsys, Inc.(a)		547		211,279
TD SYNNEX Corp.		2,307		223,295
TE Connectivity Ltd.		1,832		240,267
Teledyne Technologies, Inc.(a)		663		296,600
Teradyne, Inc.		1,666		179,112
Trimble, Inc.(a)		3,187		167,063
Tyler Technologies, Inc.(a)		494		175,192
Western Digital Corp.(a)		4,096		154,296
Zebra Technologies Corp.(a)		586		186,348
				10,211,210
Materials (8.0%):
Albemarle Corp.		480		106,099
Avery Dennison Corp.		1,188		212,569
Ball Corp.		3,145		173,321
Celanese Corp.		1,923		209,395
CF Industries Holdings, Inc.		1,286		93,222
Eastman Chemical Co.		2,594		218,778
Ecolab, Inc.		1,384		229,094
FMC Corp.		1,925		235,100
Freeport-McMoRan, Inc.		4,350		177,959
International Flavors & Fragrances, Inc.		2,203		202,588
International Paper Co.		6,658		240,088
LyondellBasell Industries N.V., Class A		2,403		225,618
Martin Marietta Materials, Inc.		669		237,535
Newmont Corp.		4,211		206,423
Nucor Corp.		1,133		175,015
Packaging Corp. of America		1,791		248,645
PPG Industries, Inc.		1,664		222,277
Reliance Steel & Aluminum Co.		1,018		261,361
RPM International, Inc.		2,551		222,549
Steel Dynamics, Inc.		1,791		202,490

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core Enhanced ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Materials (8.0%): (continued)
The Mosaic Co.		2,414		110,754
The Sherwin-Williams Co.		890		200,045
Vulcan Materials Co.		1,399		240,012
Westlake Chemical Corp.		1,848		214,331
Westrock Co.		5,302		161,552
				5,026,820
Utilities (10.0%):
Alliant Energy Corp.		5,765		307,851
Ameren Corp.		4,077		352,212
American Electric Power Co., Inc.		3,466		315,371
American Water Works Co., Inc.		1,888		276,573
Atmos Energy Corp.		3,053		343,035
CenterPoint Energy, Inc.		10,992		323,824
CMS Energy Corp.		5,296		325,069
Consolidated Edison, Inc.		3,643		348,526
Constellation Energy Corp.		1,566		122,931
DTE Energy Co.		2,966		324,896
Entergy Corp.		2,658		286,373
Essential Utilities, Inc.		6,354		277,352
Evergy, Inc.		5,340		326,381
Eversource Energy		3,941		308,423
FirstEnergy Corp.		7,872		315,352
NextEra Energy, Inc.		2,895		223,147
NiSource, Inc.		11,243		314,354
NRG Energy, Inc.		4,761		163,255
The Southern Co.		4,592		319,511
WEC Energy Group, Inc.		3,476		329,490
Xcel Energy, Inc.		5,017		338,346
				6,242,272
Total Common Stocks (Cost $61,951,318)				62,464,582
Right (0.0%)†
Health Care (0.0%):†
ABIOMED, Inc., CVR, Expiring 01/02/26(a)(b)		609		621
				621
Total Right (Cost $–)				621

Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan US Large/Mid Cap Core Enhanced ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Investment Company (0.1%)
BlackRock Liquidity Funds T-Fund, Institutional Class, 4.69%(c)		64,750		64,750
Total Investment Company (Cost $64,750)				64,750
Total Investments (Cost $62,016,068) — 99.9%				62,529,953
Other assets in excess of liabilities — 0.1%				83,624
NET ASSETS - 100.00%				62,613,577

Percentages indicated are based on net assets as of March 31, 2023.

† Represents less than 0.05%.

(a) Non-income producing security.

(b) Security was fair valued based upon procedures approved by the Board of Trustees and represents 0.0% of the Fund’s net assets as of March 31,2023. This security is classified as Level 3 within the fair value hierarchy.

(c) Rate disclosed is the 7-Day effective yield on March 31, 2023.

CVR — Contingent Value Rights

Futures Contracts 

Long Futures

					Value and Unrealized
Index Futures	Expiration Date	Number of  Contracts	Notional  Amount		Appreciation/ (Depreciation)
S&P 500 Index E-mini	6/16/23	1	$	206,888	$	9,483
					$	9,483

	Schedule of Portfolio Investments
	March 31, 2023
Timothy Plan High Dividend Stock Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (99.6%)
Communication Services (0.3%):
Lumen Technologies, Inc.		71,126		188,484
				188,484
Consumer Discretionary (4.7%):
Darden Restaurants, Inc.		4,106		637,087
Garmin, Ltd.		7,746		781,726
Genuine Parts Co.		5,127		857,798
LKQ Corp.		10,850		615,846
Vail Resorts, Inc.		2,405		562,001
				3,454,458
Consumer Staples (6.5%):
Bunge, Ltd.		6,957		664,533
Campbell Soup Co.		16,492		906,730
Hormel Foods Corp.		19,770		788,428
McCormick & Co., Inc.		9,958		828,605
Sysco Corp.		8,822		681,323
The JM Smucker Co.		5,444		856,722
				4,726,341
Energy (9.5%):
Chesapeake Energy Corp.		4,350		330,774
ConocoPhillips		3,902		387,118
Coterra Energy, Inc.		14,482		355,388
Devon Energy Corp.		5,259		266,158
Diamondback Energy, Inc.		2,916		394,156
EOG Resources, Inc.		3,577		410,032
Kinder Morgan, Inc.		41,985		735,157
Marathon Petroleum Corp.		5,152		694,644
ONEOK, Inc.		10,412		661,579
Phillips 66		5,163		523,425
Pioneer Natural Resources Co.		2,022		412,973
Targa Resources Corp.		7,314		533,556
The Williams Cos., Inc.		22,819		681,375
Valero Energy Corp.		3,745		522,802
				6,909,137
Financials (11.0%):
Aflac, Inc.		14,498		935,411
American Financial Group, Inc.		5,843		709,924
Ares Management Corp., Class A		6,834		570,229
Cincinnati Financial Corp.		6,041		677,075
East West BanCorp, Inc.		7,288		404,484
Equitable Holdings, Inc.		19,948		506,480
Erie Indemnity Co., Class A		3,369		780,463
Everest Re Group, Ltd.		2,674		957,345
Franklin Resources, Inc.		25,806		695,214
Principal Financial Group, Inc.		8,399		624,214

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan High Dividend Stock Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Financials (11.0%): (continued)
Rocket Cos., Inc., Class A(a)		50,586		458,309
WR Berkley Corp.		11,745		731,244
				8,050,392
Health Care (2.0%):
Amgen, Inc.		3,786		915,266
Baxter International, Inc.		12,368		501,646
				1,416,912
Industrials (20.5%):
Caterpillar, Inc.		3,301		755,401
CH Robinson Worldwide, Inc.		6,008		597,015
Eaton Corp. PLC		5,197		890,454
Fastenal Co.		16,146		870,915
General Dynamics Corp.		3,760		858,069
Honeywell International, Inc.		4,540		867,685
Huntington Ingalls Industries, Inc.		3,459		716,082
Illinois Tool Works, Inc.		4,094		996,684
Johnson Controls International PLC		12,199		734,624
Masco Corp.		12,732		633,035
Norfolk Southern Corp.		3,242		687,304
PACCAR, Inc.		12,872		942,230
Parker Hannifin Corp.		2,470		830,192
Regal Rexnord Corp.		4,056		570,801
Rockwell Automation, Inc.		2,382		698,998
Snap-on, Inc.		3,575		882,632
TransDigm Group, Inc.		1,113		820,337
Union Pacific Corp.		4,023		809,669
Watsco, Inc.		2,615		831,988
				14,994,115
Information Technology (9.3%):
Analog Devices, Inc.		4,002		789,274
Broadcom, Inc.		1,255		805,133
Fidelity National Information Services, Inc.		7,351		399,380
Juniper Networks, Inc.		25,235		868,589
NetApp, Inc.		9,469		604,596
NXP Semiconductors N.V.		3,146		586,650
Paychex, Inc.		6,282		719,854
Seagate Technology Holdings PLC		9,220		609,626
Skyworks Solutions, Inc.		5,847		689,829
TE Connectivity Ltd.		5,672		743,883
				6,816,814
Materials (12.0%):
Celanese Corp.		5,953		648,222
Eastman Chemical Co.		8,032		677,419
FMC Corp.		5,961		728,017
Freeport-McMoRan, Inc.		13,468		550,976
International Flavors & Fragrances, Inc.		6,820		627,167
International Paper Co.		20,612		743,269

	Schedule of Portfolio Investments — continued
	March 31, 2023
Timothy Plan High Dividend Stock Enhanced ETF	(Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Materials (12.0%): (continued)
LyondellBasell Industries N.V., Class A		7,439		698,448
Newmont Corp.		13,037		639,074
Packaging Corp. of America		5,544		769,673
PPG Industries, Inc.		5,150		687,937
Reliance Steel & Aluminum Co.		3,153		809,501
RPM International, Inc.		7,896		688,847
Westrock Co.		16,416		500,195
				8,768,745
Utilities (23.8%):
Alliant Energy Corp.		17,847		953,030
Ameren Corp.		12,622		1,090,415
American Electric Power Co., Inc.		10,730		976,323
Atmos Energy Corp.		9,452		1,062,027
CenterPoint Energy, Inc.		34,030		1,002,524
CMS Energy Corp.		16,395		1,006,325
Consolidated Edison, Inc.		11,279		1,079,062
DTE Energy Co.		9,182		1,005,796
Entergy Corp.		8,229		886,592
Essential Utilities, Inc.		19,673		858,726
Evergy, Inc.		16,534		1,010,558
Eversource Energy		12,201		954,850
FirstEnergy Corp.		24,371		976,302
NiSource, Inc.		34,809		973,260
NRG Energy, Inc.		14,741		505,469
The Southern Co.		14,217		989,219
WEC Energy Group, Inc.		10,761		1,020,035
Xcel Energy, Inc.		15,534		1,047,613
				17,398,126
Total Common Stocks (Cost $73,159,300)				72,723,524

SECURITY DESCRIPTION	SHARES		VALUE ($)
Investment Company (0.3%)
BlackRock Liquidity Funds T-Fund, Institutional Class, 4.69%(b)		204,463		204,463
Total Investment Company (Cost $204,463)				204,463
Total Investments (Cost $73,363,763) — 99.9%				72,927,987
Other assets in excess of liabilities — 0.1%				92,812
NET ASSETS - 100.00%				73,020,799

Percentages indicated are based on net assets as of March 31, 2023.

(a) Non-income producing security.

(b) Rate disclosed is the 7-Day effective yield on March 31, 2023.

Futures Contracts

Long Futures 

Index Futures	Expiration Date	Number of Contracts	Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-mini	6/16/23	1	$	206,888	$	9,483
					$	9,483

  Schedule of Portfolio Investments

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Common Stocks (88.1%)
Communication Services (3.6%):
BT Group PLC		122,305		219,940
Cheil Worldwide, Inc.		10,514		150,396
Cogent Communications Holdings, Inc.		4,228		269,408
HKT Trust & HKT, Ltd.		236,000		313,276
KDDI Corp.		3,800		117,154
LG Uplus Corp.		32,227		268,125
Tele2 AB, Class B Shares		28,756		286,169
Telefonica Deutschland Holding AG		75,993		233,788
Telenor ASA		26,954		316,033
				2,174,289
Consumer Discretionary (9.0%):
Barratt Developments PLC		31,062		178,724
Big 5 Sporting Goods Corp.		12,178		93,649
Camping World Holdings, Inc., Class A		5,812		121,296
Carter's, Inc.		1,951		140,316
Cracker Barrel Old Country Store, Inc.		1,899		215,726
Darden Restaurants, Inc.		1,552		240,808
Ethan Allen Interiors, Inc.		7,883		216,467
Foot Locker, Inc.		3,710		147,250
Franchise Group, Inc.		4,276		116,521
Garmin, Ltd.		2,171		219,097
Guess?, Inc.		7,212		140,346
H&R Block, Inc.		4,552		160,458
Haverty Furniture Cos., Inc.		6,334		202,118
Kontoor Brands, Inc.		3,595		173,962
LCI Industries		1,657		182,055
Leggett & Platt, Inc.		5,733		182,768
MDC Holdings, Inc.		5,691		221,209
Movado Group, Inc.		5,072		145,922
Newell Brands, Inc.		9,564		118,976
Next PLC		1,868		151,418
Persimmon PLC		8,840		136,944
PetMed Express, Inc.		9,258		150,350
Ruth's Hospitality Group, Inc.		10,747		176,466
Smith & Wesson Brands, Inc.		13,761		169,398
Stellantis N.V.		16,696		303,007
Tapestry, Inc.		3,419		147,393
Taylor Wimpey PLC		120,979		177,491
The Aaron's Co., Inc.		9,175		88,631
The Cheesecake Factory, Inc.		4,061		142,338
Travel + Leisure Co.		3,469		135,985
Upbound Group, Inc.		4,500		110,295
Vail Resorts, Inc.		782		182,738

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Consumer Discretionary (9.0%): (continued)
Wolverine World Wide, Inc.		8,244		140,560
				5,430,682
Consumer Staples (3.9%):
B&G Foods, Inc.		14,041		218,057
Cal-Maine Foods, Inc.		3,663		223,040
Campbell Soup Co.		4,270		234,764
Energizer Holdings, Inc.		6,680		231,796
Flowers Foods, Inc.		10,882		298,275
Ingredion, Inc.		3,097		315,058
J Sainsbury PLC		81,218		279,185
Medifast, Inc.		1,301		134,875
Nu Skin Enterprises, Inc., Class A		4,354		171,156
Reynolds Consumer Products, Inc.		8,844		243,210
				2,349,416
Energy (8.6%):
Aker BP ASA		4,974		121,820
Ampol, Ltd.		7,938		161,749
Antero Midstream Corp.		15,473		162,312
Archrock, Inc.		23,898		233,483
Chesapeake Energy Corp.		1,041		79,158
Chord Energy Corp.		1,052		141,599
Civitas Resources, Inc.		2,087		142,626
Comstock Resources, Inc.		7,884		85,068
CONSOL Energy, Inc.		1,874		109,198
Crescent Energy, Inc., Class A		10,520		118,981
CVR Energy, Inc.		3,520		115,386
DHT Holdings, Inc.		8,143		88,026
DT Midstream, Inc.		3,820		188,593
Enbridge, Inc.		7,284		277,765
Eni SpA		13,258		185,549
Equitrans Midstream Corp.		11,415		65,979
FLEX LNG, Ltd.		4,193		140,801
HD Hyundai Co, Ltd.		4,159		185,633
HF Sinclair Corp.		2,313		111,903
Keyera Corp.		8,628		188,931
Kinder Morgan, Inc.		12,294		215,268
Kinetik Holdings, Inc.		3,216		100,661
New Fortress Energy, Inc.		2,759		81,197
Nordic American Tankers, Ltd.		20,609		81,612
Northern Oil and Gas, Inc.		3,452		104,768
OMV AG		2,123		97,290
ONEOK, Inc.		2,354		149,573
Pembina Pipelines Corp.		5,963		193,192
Phillips 66		1,357		137,573
SFL Corp., Ltd.		24,937		236,902
Sitio Royalties Corp., Class A		5,683		128,436
S-Oil Corp.		2,205		135,684
TC Energy Corp.		5,123		199,301

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Energy (8.6%): (continued)
The Williams Cos., Inc.		6,250		186,625
Valero Energy Corp.		875		122,150
Woodside Energy Group, Ltd.		5,471		121,900
				5,196,692
Financials (20.6%):
ABN AMRO Bank N.V.		9,196		145,793
abrdn PLC		36,082		90,564
Ageas SA		3,055		132,050
A-Mark Precious Metals, Inc.		2,429		84,165
ANZ Group Holdings, Ltd.		12,626		193,483
Ares Management Corp., Class A		1,315		109,724
Artisan Partners Asset Management, Inc., Class A		2,931		93,733
Assicurazioni Generali SpA		7,895		157,357
Axis Capital Holdings, Ltd.		3,322		181,115
Bank of Hawaii Corp.		3,100		161,448
Bank OZK		4,475		153,045
Blue Owl Capital, Inc.		7,995		88,585
Brookline BanCorp, Inc.		14,499		152,239
Capitol Federal Financial, Inc.		20,281		136,491
CNA Financial Corp.		5,568		217,319
Columbia Banking System, Inc.		12,897		276,254
Credit Agricole SA		18,157		204,731
DB Insurance Co., Ltd.		2,867		164,968
First American Financial Corp.		2,505		139,428
First BanCorp.		12,443		142,099
First Busey Corp.		9,538		194,003
First Financial BanCorp.		8,698		189,355
First Hawaiian, Inc.		8,985		185,361
First Interstate BancSystem, Inc., Class A		6,475		193,344
FNB Corp.		19,057		221,061
Franklin Resources, Inc.		4,008		107,976
Great-West Lifeco, Inc.		6,091		161,459
Hana Financial Group, Inc.		4,097		128,100
Hanmi Financial Corp.		7,704		143,063
HomeStreet, Inc.		5,652		101,679
Hope BanCorp, Inc.		16,013		157,248
Industrial Bank of Korea		34,782		269,876
ING Groep N.V.		11,392		135,023
Intesa Sanpaolo SpA		66,077		169,640
Invesco, Ltd.		5,837		95,727
Jackson Financial, Inc., Class A		2,473		92,515
Janus Henderson Group PLC		4,587		122,198
Jefferies Financial Group, Inc.		3,171		100,648
KBC Group N.V.		2,173		149,160
Korea Investment Holdings Co., Ltd.		2,504		105,800
Lazard, Ltd., Class A		2,642		87,477
Legal & General Group PLC		36,464		107,444
Mediobanca Banca di Credito Finanziario SpA		18,331		184,230

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Financials (20.6%): (continued)
MGIC Investment Corp.		12,237		164,221
Moelis & Co., Class A		2,146		82,492
Navient Corp.		5,914		94,565
New York Community BanCorp, Inc.		15,166		137,101
NH Investment Securities Co., Ltd.		28,784		194,591
NN Group N.V.		4,320		156,747
Nordea Bank Abp		18,782		200,289
Northwest Bancshares, Inc.		16,079		193,430
Oceanfirst Financial Corp.		9,835		181,751
Old Republic International Corp.		9,211		229,999
Onemain Holdings, Inc.		2,372		87,954
Pacific Premier BanCorp, Inc.		5,490		131,870
PacWest BanCorp		5,498		53,496
Piper Sandler Cos.		852		118,096
Popular, Inc.		2,920		167,637
Poste Italiane SpA		10,144		103,533
Power Corp. of Canada		6,333		161,875
Principal Financial Group, Inc.		1,768		131,398
Prosperity Bancshares, Inc.		3,641		223,994
Radian Group, Inc.		7,905		174,700
Safety Insurance Group, Inc.		2,191		163,273
Samsung Fire & Marine Insurance Co, Ltd.		1,320		208,896
Samsung Securities Co., Ltd.		5,723		139,371
Sandy Spring BanCorp, Inc.		5,655		146,917
SBI Holdings, Inc.		5,900		116,613
Societe Generale SA		6,197		139,676
Southside Bancshares, Inc.		6,048		200,794
Stewart Information Services Corp.		2,920		117,822
Swiss Re AG		1,166		119,621
Synovus Financial Corp.		3,861		119,035
TFS Financial Corp.		15,315		193,428
The Bank of NT Butterfield & Son, Ltd.		6,823		184,221
UWM Holdings Corp.		22,708		111,496
Valley National BanCorp		14,610		134,996
Virtu Financial, Inc., Class A		8,233		155,604
Washington Trust BanCorp, Inc.		3,189		110,531
Webster Financial Corp.		4,062		160,124
WesBanco, Inc.		6,772		207,900
Westpac Banking Corp.		13,454		194,752
Woori Financial Group, Inc.		16,819		147,426
				12,489,213
Health Care (1.1%):
Amgen, Inc.		1,114		269,310
Organon & Co.		6,545		153,938
Patterson Cos., Inc.		8,834		236,486
				659,734
Industrials (11.2%):
ACCO Brands Corp.		35,139		186,939

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Industrials (11.2%): (continued)
ACS Actividades de Construccion y Servicios SA		12,625		401,817
Adecco Group AG		4,877		176,749
AP Moller - Maersk A/S, Class B		60		108,712
Aurizon Holdings, Ltd.		112,937		253,599
Bouygues SA		10,217		344,455
CK Hutchison Holdings, Ltd.		49,156		304,967
Costamare, Inc.		18,883		177,689
Deluxe Corp.		10,235		163,760
Eagle Bulk Shipping, Inc.		2,758		125,489
EMCOR Group, Inc.		803		130,560
Ennis, Inc.		5,915		124,747
Genco Shipping & Trading, Ltd.		9,157		143,399
Golden Ocean Group, Ltd.		15,013		142,924
Healthcare Services Group, Inc.		16,254		225,443
HNI Corp.		10,118		281,685
Insteel Industries, Inc.		5,317		147,919
Kaman Corp.		6,071		138,783
Kennametal, Inc.		8,169		225,301
ManpowerGroup, Inc.		2,272		187,508
MDU Resources Group, Inc.		10,270		313,030
MillerKnoll, Inc.		6,653		136,054
Mitsui OSK Lines, Ltd.		6,300		157,073
MSC Industrial Direct Co., Inc.		3,644		306,096
Nippon Yusen KK		6,000		139,605
PACCAR, Inc.		4,315		315,858
Pitney Bowes, Inc.		28,952		112,623
Ryder System, Inc.		1,648		147,067
Singapore Technologies Engineering, Ltd.		118,200		325,150
SITC International Holdings Co., Ltd.		42,458		91,194
Trinity Industries, Inc.		7,527		183,358
Triton International, Ltd.		4,131		261,162
Watsco, Inc.		686		218,258
Xinyi Glass Holdings, Ltd.		43,539		77,985
				6,776,958
Information Technology (1.1%):
Broadcom, Inc.		238		152,686
National Instruments Corp.		2,655		139,149
NetApp, Inc.		2,982		190,401
The Western Union Co.		15,597		173,906
				656,142
Materials (9.3%):
Amcor PLC		19,703		224,220
Anglo American PLC		2,885		95,293
Antofagasta PLC		5,927		115,576
Ardagh Metal Packaging SA		21,523		87,814
BASF SE		3,184		166,974
BHP Group, Ltd.		4,933		155,705
Boliden AB		2,579		101,368

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Materials (9.3%): (continued)
CRH PLC		3,622		182,540
Eastman Chemical Co.		2,043		172,307
Element Solutions, Inc.		9,433		182,151
Evonik Industries AG		8,557		179,645
Fortescue Metals Group, Ltd.		7,718		116,002
Huntsman Corp.		5,731		156,800
ICL Group, Ltd.		21,294		142,983
International Paper Co.		6,913		249,283
JFE Holdings, Inc.		16,600		209,938
Kumho Petrochemical Co., Ltd.		1,402		154,773
LyondellBasell Industries N.V., Class A		2,058		193,226
Newmont Corp.		2,699		132,305
Nippon Steel Corp.		9,800		230,310
Norsk Hydro ASA		15,357		114,170
OCI N.V.		3,936		133,424
Packaging Corp. of America		1,910		265,165
POSCO Holdings, Inc.		716		202,418
Ramaco Resources, Inc.		9,379		82,629
Rio Tinto PLC		2,393		161,684
Sonoco Products Co.		4,336		264,496
South32, Ltd.		38,602		112,736
Southern Copper Corp.		1,972		150,365
SunCoke Energy, Inc.		19,908		178,774
The Chemours Co.		3,805		113,922
The Scotts Miracle-Gro Co.		1,707		119,046
Tronox Holdings PLC		9,185		132,080
Westrock Co.		5,705		173,831
Yara International ASA		4,303		186,637
				5,640,590
Real Estate (1.7%):
Aroundtown SA		39,830		56,711
Hang Lung Properties, Ltd.		38,269		71,568
Henderson Land Development Co., Ltd.		52,809		182,652
Kennedy-Wilson Holdings, Inc.		17,320		287,339
LEG Immobilien SE		1,706		93,387
New World Development Co., Ltd.		47,656		127,796
Sino Land Co., Ltd.		165,463		223,858
				1,043,311
Utilities (18.0%):
Algonquin Power & Utilities Corp.		21,301		178,756
ALLETE, Inc.		5,778		371,930
Alliant Energy Corp.		3,710		198,114
American Electric Power Co., Inc.		2,384		216,920
Avangrid, Inc.		5,943		237,007
Avista Corp.		8,203		348,217
Black Hills Corp.		5,339		336,891
Brookfield Infrastructure Corp., Class A		5,647		260,101
CK Infrastructure Holdings, Ltd.		41,386		225,127

  Schedule of Portfolio Investments — continued

March 31, 2023

Timothy Plan Market Neutral ETF (Unaudited)

SECURITY DESCRIPTION	SHARES		VALUE ($)
Utilities (18.0%): (continued)
Clearway Energy, Inc., Class C		7,927		248,353
CLP Holdings, Ltd.		31,580		228,109
CMS Energy Corp.		3,034		186,227
Consolidated Edison, Inc.		2,631		251,708
DTE Energy Co.		1,708		187,094
Emera, Inc.		7,471		306,956
Enagas SA		13,866		266,142
Endesa SA		13,113		284,394
Enel SpA		32,276		196,945
Engie SA		17,074		269,838
Entergy Corp.		1,957		210,847
Evergy, Inc.		3,581		218,871
Eversource Energy		2,744		214,745
FirstEnergy Corp.		5,392		216,004
Hawaiian Electric Industries, Inc.		5,424		208,282
IDACORP, Inc.		2,117		229,335
National Fuel Gas Co.		3,042		175,645
NiSource, Inc.		5,943		166,166
Northwest Natural Holding Co.		6,479		308,141
NorthWestern Corp.		6,747		390,381
NRG Energy, Inc.		4,600		157,734
OGE Energy Corp.		5,944		223,851
ONE Gas, Inc.		2,970		235,313
Pinnacle West Capital Corp.		3,131		248,100
Portland General Electric Co.		8,084		395,227
Power Assets Holdings, Ltd.		49,674		266,415
Public Service Enterprise Group, Inc.		3,346		208,958
Red Electrica Corp. SA		16,933		297,466
Snam SpA		48,797		258,703
Spire, Inc.		4,490		314,929
SSE PLC		5,928		131,828
The Southern Co.		3,608		251,045
UGI Corp.		4,479		155,690
Unitil Corp.		2,917		166,386
Vistra Corp.		6,919		166,056
WEC Energy Group, Inc.		2,207		209,202
Xcel Energy, Inc.		866		58,403
				10,882,552
Total Common Stocks (Cost $56,360,620)				53,299,579
Total Investments (Cost $56,360,620) — 88.1%				53,299,579
Other assets in excess of liabilities — 11.9%				7,173,960
NET ASSETS - 100.00%				60,473,539

Percentages indicated are based on net assets as of March 31, 2023.                

† Represents less than 0.05%.

(a) Non-income producing security.

(b) Security was fair valued based upon procedures approved by the Board of Trustees and represents 0.0% of the Fund’s net assets as of March 31,2023. This security is classified as Level 3 within the fair value hierarchy.

Futures Contracts

Short Futures
Index Futures	Expiration Date	Number of Contracts	Notional  Amount			Value and Unrealized Appreciation/ (Depreciation)
E-Mini Russell 2000 Index	6/16/23	153	$	(13,873,275	)	$	(412,590	)
Mini MSCI EAFE Index	6/16/23	170		(17,820,250	)		(697,360	)
S&P 500 Index E-mini	6/16/23	229		(47,377,238	)		(2,771,465	)
						$	(3,881,415	)

Long Futures
Index Futures	Expiration Date	Number of Contracts	Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
NASDAQ 100 E-Mini	6/16/23	98		26,071,430		2,617,005
					$	2,617,005
Total Net Futures Contracts					$	(1,264,410	)