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 Appreciation/ | |||||||||
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 | |||||||||
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 (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 (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 | ) |