TIMOTHY
PLAN SMALL/MID CAP GROWTH FUND (Formerly known as Timothy Plan Aggressive Growth Fund) |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 96.7% | ||||||||
AEROSPACE & DEFENSE - 1.5% | ||||||||
942 | TransDigm Group, Inc. | $ | 952,927 | |||||
APPAREL & TEXTILE PRODUCTS - 3.2% | ||||||||
3,078 | Deckers Outdoor Corporation(a) | 2,057,428 | ||||||
BIOTECH & PHARMA - 2.1% | ||||||||
1,792 | Argenx S.E. - ADR(a) | 681,731 | ||||||
12,982 | Ionis Pharmaceuticals, Inc.(a) | 656,759 | ||||||
1,338,490 | ||||||||
COMMERCIAL SUPPORT SERVICES - 3.0% | ||||||||
11,087 | Clean Harbors, Inc.(a) | 1,934,792 | ||||||
DATA CENTER REIT - 2.0% | ||||||||
9,400 | Digital Realty Trust, Inc. | 1,265,052 | ||||||
DIVERSIFIED INDUSTRIALS - 1.9% | ||||||||
8,091 | Dover Corporation | 1,244,477 | ||||||
ELECTRICAL EQUIPMENT - 6.0% | ||||||||
16,253 | Amphenol Corporation, Class A | 1,611,161 | ||||||
5,407 | Trane Technologies PLC | 1,318,767 | ||||||
19,280 | Vertiv Holdings Company | 926,018 | ||||||
3,855,946 | ||||||||
ENGINEERING & CONSTRUCTION - 2.2% | ||||||||
6,415 | Quanta Services, Inc. | 1,384,357 | ||||||
HEALTH CARE FACILITIES & SERVICES - 5.2% | ||||||||
9,089 | Cardinal Health, Inc. | 916,171 | ||||||
8,589 | ICON plc(a) | 2,431,288 | ||||||
3,347,459 | ||||||||
HOME CONSTRUCTION - 6.8% | ||||||||
68,940 | AZEK Company, Inc. (The)(a) | 2,636,955 | ||||||
11,430 | Lennar Corporation, Class A | 1,703,527 | ||||||
4,340,482 |
TIMOTHY
PLAN SMALL/MID CAP GROWTH FUND (Formerly known as Timothy Plan Aggressive Growth Fund) |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 96.7% (Continued) | ||||||||
INDUSTRIAL SUPPORT SERVICES - 2.2% | ||||||||
2,505 | United Rentals, Inc. | $ | 1,436,417 | |||||
LEISURE FACILITIES & SERVICES - 3.1% | ||||||||
4,855 | Dominos Pizza, Inc. | 2,001,377 | ||||||
MACHINERY - 7.3% | ||||||||
7,892 | Lincoln Electric Holdings, Inc. | 1,716,194 | ||||||
9,790 | Oshkosh Corporation | 1,061,334 | ||||||
3,921 | Parker-Hannifin Corporation | 1,806,404 | ||||||
4,583,932 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 6.8% | ||||||||
1,886 | Align Technology, Inc.(a) | 516,764 | ||||||
67,813 | Avantor, Inc.(a) | 1,548,172 | ||||||
6,190 | DexCom, Inc.(a) | 768,117 | ||||||
19,210 | GE HealthCare Technologies, Inc. | 1,485,317 | ||||||
4,318,370 | ||||||||
OIL & GAS PRODUCERS - 6.2% | ||||||||
10,415 | Cheniere Energy, Inc. | 1,777,944 | ||||||
10,662 | Devon Energy Corporation | 482,989 | ||||||
6,319 | Diamondback Energy, Inc. | 979,951 | ||||||
19,229 | EQT Corporation | 743,393 | ||||||
3,984,277 | ||||||||
RENEWABLE ENERGY - 2.6% | ||||||||
9,486 | First Solar, Inc.(a) | 1,634,248 | ||||||
RETAIL - DISCRETIONARY - 4.1% | ||||||||
13,538 | Burlington Stores, Inc.(a) | 2,632,870 | ||||||
SEMICONDUCTORS - 8.1% | ||||||||
4,467 | Monolithic Power Systems, Inc. | 2,817,694 | ||||||
21,788 | ON Semiconductor Corporation(a) | 1,819,952 | ||||||
4,739 | Skyworks Solutions, Inc. | 532,758 | ||||||
5,170,404 |
TIMOTHY
PLAN SMALL/MID CAP GROWTH FUND (Formerly known as Timothy Plan Aggressive Growth Fund) |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 96.7% (Continued) | ||||||||
SOFTWARE - 7.5% | ||||||||
5,267 | Crowdstrike Holdings, Inc., Class A(a) | $ | 1,344,770 | |||||
11,798 | Fortinet, Inc.(a) | 690,537 | ||||||
1,716 | MongoDB, Inc.(a) | 701,587 | ||||||
9,176 | Zscaler, Inc.(a) | 2,033,035 | ||||||
4,769,929 | ||||||||
SPECIALTY FINANCE - 2.2% | ||||||||
19,011 | AerCap Holdings N.V.(a) | 1,412,898 | ||||||
TECHNOLOGY HARDWARE - 8.0% | ||||||||
9,136 | Arista Networks, Inc.(a) | 2,151,618 | ||||||
16,034 | Seagate Technology Holdings plc | 1,368,823 | ||||||
5,948 | Super Micro Computer, Inc.(a) | 1,690,778 | ||||||
5,211,219 | ||||||||
TECHNOLOGY SERVICES - 4.7% | ||||||||
10,696 | Block, Inc., Class A(a) | 827,336 | ||||||
3,340 | Globant S.A.(a) | 794,853 | ||||||
2,471 | MSCI, Inc. | 1,397,721 | ||||||
3,019,910 | ||||||||
TOTAL COMMON STOCKS (Cost $51,585,872) | 61,897,261 | |||||||
SHORT-TERM INVESTMENTS — 3.3% | ||||||||
MONEY MARKET FUNDS - 3.3% | ||||||||
2,101,293 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $2,101,293)(b) | 2,101,293 | ||||||
TOTAL INVESTMENTS - 100.0% (Cost $53,687,165) | $ | 63,998,554 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0% | (30,367 | ) | ||||||
NET ASSETS - 100.0% | $ | 63,968,187 |
ADR | - American Depositary Receipt |
MSCI | - Morgan Stanley Capital International |
NV | - Naamioze Vennootschap |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S.A. | - Société Anonyme |
(a) | Non-income producing security. |
(b) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN INTERNATIONAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% | ||||||||
AEROSPACE & DEFENSE - 3.3% | ||||||||
82,000 | Safran S.A. - ADR | $ | 3,618,660 | |||||
73,000 | Thales S.A. - ADR | 2,156,128 | ||||||
5,774,788 | ||||||||
AUTOMOTIVE - 1.9% | ||||||||
55,800 | Magna International, Inc. | 3,296,664 | ||||||
BANKING - 10.6% | ||||||||
48,339 | DBS Group Holdings Ltd. - ADR | 4,894,806 | ||||||
99,000 | DNB Bank ASA - ADR | 2,106,720 | ||||||
44,900 | HDFC Bank Ltd. - ADR | 3,013,239 | ||||||
120,100 | ICICI Bank Ltd. - ADR | 2,863,184 | ||||||
294,000 | Itau Unibanco Holding S.A. - ADR | 2,043,300 | ||||||
52,500 | KBC Group N.V. - ADR | 1,705,200 | ||||||
208,000 | Sumitomo Mitsui Financial Group, Inc. - ADR | 2,013,440 | ||||||
18,639,889 | ||||||||
BIOTECH & PHARMA - 1.1% | ||||||||
5,200 | Argenx S.E. - ADR(a) | 1,978,236 | ||||||
CHEMICALS - 2.2% | ||||||||
98,420 | Air Liquide S.A. - ADR | 3,833,459 | ||||||
CONSTRUCTION MATERIALS - 2.3% | ||||||||
58,000 | CRH plc | 4,011,280 | ||||||
ELECTRIC UTILITIES - 3.4% | ||||||||
453,000 | Enel - Societa per Azioni - ADR | 3,349,935 | ||||||
50,200 | Iberdrola S.A. - ADR | 2,635,500 | ||||||
5,985,435 | ||||||||
ELECTRICAL EQUIPMENT - 3.1% | ||||||||
72,000 | ABB Ltd. - ADR | 3,189,600 | ||||||
134,000 | Daikin Industries Ltd. - ADR | 2,166,780 | ||||||
5,356,380 | ||||||||
ENGINEERING & CONSTRUCTION - 4.5% | ||||||||
148,000 | Cellnex Telecom S.A. - ADR | 2,906,720 |
TIMOTHY PLAN INTERNATIONAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% (Continued) | ||||||||
ENGINEERING & CONSTRUCTION - 4.5% (Continued) | ||||||||
155,000 | Vinci S.A. - ADR | $ | 4,888,700 | |||||
7,795,420 | ||||||||
FOOD - 1.9% | ||||||||
26,300 | Kerry Group plc - ADR | 2,300,887 | ||||||
53,000 | Mowi ASA - ADR | 947,110 | ||||||
3,247,997 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 2.3% | ||||||||
14,400 | ICON plc(a) | 4,076,208 | ||||||
HOUSEHOLD PRODUCTS - 3.6% | ||||||||
137,000 | Beiersdorf A.G. - ADR | 4,095,958 | ||||||
315,000 | Unicharm Corporation - ADR | 2,275,875 | ||||||
6,371,833 | ||||||||
INDUSTRIAL SUPPORT SERVICES - 1.6% | ||||||||
10,000 | Ashtead Group plc - ADR | 2,842,500 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 5.0% | ||||||||
194,500 | Deutsche Boerse A.G. - ADR | 3,996,003 | ||||||
157,000 | London Stock Exchange Group plc - ADR | 4,706,075 | ||||||
8,702,078 | ||||||||
INSURANCE - 5.4% | ||||||||
23,500 | Ageas S.A./NV - ADR | 1,018,960 | ||||||
79,000 | AIA Group Ltd. - ADR | 2,738,930 | ||||||
66,400 | Muenchener Rueckversicherungs-Gesellschaft A.G. in - ADR | 2,792,784 | ||||||
113,000 | Tokio Marine Holdings, Inc. - ADR | 2,815,960 | ||||||
9,366,634 | ||||||||
INTERNET MEDIA & SERVICES - 2.0% | ||||||||
576,181 | Prosus N.V. - ADR | 3,428,277 | ||||||
43,600 | Yandex N.V., Class A(a)(b)(c) | 43,600 | ||||||
3,471,877 | ||||||||
LEISURE PRODUCTS - 0.8% | ||||||||
95,000 | Shimano, Inc. - ADR | 1,464,900 |
TIMOTHY PLAN INTERNATIONAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% (Continued) | ||||||||
MACHINERY - 4.9% | ||||||||
254,000 | Atlas Copco A.B. - ADR | $ | 3,792,220 | |||||
82,150 | Techtronic Industries Company Ltd. - ADR | 4,901,069 | ||||||
8,693,289 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 8.2% | ||||||||
61,900 | Alcon, Inc. | 4,835,628 | ||||||
35,600 | Hoya Corporation - ADR | 4,432,912 | ||||||
118,000 | Olympus Corporation - ADR | 1,695,188 | ||||||
76,400 | Smith & Nephew plc - ADR | 2,084,192 | ||||||
39,500 | Sysmex Corporation - ADR | 1,096,520 | ||||||
14,144,440 | ||||||||
METALS & MINING - 1.4% | ||||||||
32,300 | Rio Tinto plc - ADR | 2,405,058 | ||||||
OIL & GAS PRODUCERS - 5.7% | ||||||||
60,000 | Canadian Natural Resources Ltd. | 3,931,200 | ||||||
151,000 | Equinor ASA - ADR | 4,777,640 | ||||||
81,500 | Petroleo Brasileiro S.A. - ADR | 1,301,555 | ||||||
10,010,395 | ||||||||
RETAIL - CONSUMER STAPLES - 1.1% | ||||||||
100,000 | Seven & i Holdings Company Ltd. - ADR | 1,984,000 | ||||||
SEMICONDUCTORS - 6.9% | ||||||||
7,400 | ASM International N.V. - ADR | 3,842,080 | ||||||
11,000 | NXP Semiconductors N.V. | 2,526,480 | ||||||
29,900 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 3,109,600 | ||||||
28,200 | Tokyo Electron Ltd. - ADR | 2,505,288 | ||||||
11,983,448 | ||||||||
SOFTWARE - 2.7% | ||||||||
17,400 | Nice Ltd. - ADR(a) | 3,471,474 | ||||||
30,640 | Open Text Corporation | 1,287,493 | ||||||
4,758,967 | ||||||||
SPECIALTY FINANCE - 2.1% | ||||||||
39,500 | ORIX Corporation - ADR | 3,688,905 |
TIMOTHY PLAN INTERNATIONAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% (Continued) | ||||||||
TECHNOLOGY HARDWARE - 1.8% | ||||||||
53,138 | FUJIFILM Holdings Corporation - ADR | $ | 3,174,464 | |||||
TECHNOLOGY SERVICES - 3.8% | ||||||||
70,000 | Amadeus IT Group S.A. - ADR | 5,045,600 | ||||||
89,000 | Infosys Ltd. - ADR | 1,635,820 | ||||||
6,681,420 | ||||||||
TRANSPORTATION & LOGISTICS - 2.8% | ||||||||
61,800 | Canadian Pacific Kansas City Ltd. | 4,885,908 | ||||||
WHOLESALE - CONSUMER STAPLES - 1.5% | ||||||||
32,400 | ITOCHU Corporation - ADR | 2,638,656 | ||||||
TOTAL COMMON STOCKS (Cost $140,873,631) | 171,264,528 | |||||||
SHORT-TERM INVESTMENTS — 1.9% | ||||||||
MONEY MARKET FUNDS - 1.9% | ||||||||
3,318,454 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $3,318,454)(d) | 3,318,454 | ||||||
TOTAL INVESTMENTS - 99.8% (Cost $144,192,085) | $ | 174,582,982 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2% | 392,059 | |||||||
NET ASSETS - 100.0% | $ | 174,975,041 | ||||||
ADR | - American Depositary Receipt |
LTD | - Limited Company |
NV | - Naamioze Vennootschap |
PLC | - Public Limited Company |
S.A. | - Société Anonyme |
(a) | Non-income producing security. |
(b) | Illiquid security. At December 31, 2023, the illiquid security amounted to 0.02% of net assets. |
(c) | The value of this security has been determined in good faith under policies approved by the Board of Trustees. This is a level 3 security. |
(d) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
SCHEDULE OF INVESTMENTS | |||||||
TIMOTHY PLAN INTERNATIONAL FUND | |||||||
DECEMBER 31, 2023 | |||||||
Diversification of Assets | ||||
Country | % of Net Assets | |||
Japan | 18.3 | % | ||
France | 8.3 | % | ||
Canada | 7.7 | % | ||
United Kingdom | 6.9 | % | ||
Netherlands | 6.7 | % | ||
Germany | 6.2 | % | ||
Spain | 6.0 | % | ||
Ireland | 5.9 | % | ||
Switzerland | 4.6 | % | ||
Norway | 4.5 | % | ||
Hong Kong | 4.4 | % | ||
India | 4.3 | % | ||
Singapore | 2.8 | % | ||
Sweden | 2.2 | % | ||
Israel | 2.0 | % | ||
Italy | 1.9 | % | ||
Brazil | 1.9 | % | ||
Taiwan Province Of China | 1.8 | % | ||
Belgium | 1.5 | % | ||
Russia | 0.0 | %* | ||
Total | 97.9 | % | ||
Money Market Funds | 1.9 | % | ||
Other Assets Less Liabilities - Net | 0.2 | % | ||
Grand Total | 100.0 | % |
* | Less than 0.05%. |
TIMOTHY PLAN LARGE/MID CAP GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 84.8% | ||||||||
AEROSPACE & DEFENSE - 1.9% | ||||||||
3,239 | TransDigm Group, Inc. | $ | 3,276,572 | |||||
APPAREL & TEXTILE PRODUCTS - 0.5% | ||||||||
34,132 | On Holding A.G.(a) | 920,540 | ||||||
AUTOMOTIVE - 0.4% | ||||||||
2,530 | Tesla, Inc.(a) | 628,654 | ||||||
BANKING - 1.8% | ||||||||
45,096 | Western Alliance Bancorp | 2,966,866 | ||||||
BIOTECH & PHARMA - 1.9% | ||||||||
1,333 | Regeneron Pharmaceuticals, Inc.(a) | 1,170,761 | ||||||
10,661 | Zoetis, Inc. | 2,104,161 | ||||||
3,274,922 | ||||||||
CABLE & SATELLITE - 1.6% | ||||||||
4,867 | Cable One, Inc. | 2,708,924 | ||||||
CHEMICALS - 3.6% | ||||||||
19,904 | FMC Corporation | 1,254,947 | ||||||
11,560 | Linde plc | 4,747,808 | ||||||
6,002,755 | ||||||||
CONSTRUCTION MATERIALS - 2.9% | ||||||||
9,990 | Martin Marietta Materials, Inc. | 4,984,111 | ||||||
DATA CENTER REIT - 1.8% | ||||||||
22,867 | Digital Realty Trust, Inc. | 3,077,441 | ||||||
ELECTRIC UTILITIES - 0.9% | ||||||||
25,433 | NextEra Energy, Inc. | 1,544,800 | ||||||
ELECTRICAL EQUIPMENT - 4.7% | ||||||||
43,431 | Amphenol Corporation, Class A | 4,305,315 | ||||||
19,022 | Fortive Corporation | 1,400,590 |
TIMOTHY PLAN LARGE/MID CAP GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 84.8% (Continued) | ||||||||
ELECTRICAL EQUIPMENT - 4.7% (Continued) | ||||||||
14,207 | Keysight Technologies, Inc.(a) | $ | 2,260,192 | |||||
7,966,097 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 0.8% | ||||||||
2,788 | Humana, Inc. | 1,276,374 | ||||||
INFRASTRUCTURE REIT - 0.9% | ||||||||
13,204 | Crown Castle, Inc. | 1,520,969 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.5% | ||||||||
20,318 | Intercontinental Exchange, Inc. | 2,609,441 | ||||||
INSURANCE - 4.8% | ||||||||
20,183 | Arthur J Gallagher & Company | 4,538,753 | ||||||
107,010 | Equitable Holdings, Inc. | 3,563,433 | ||||||
8,102,186 | ||||||||
LEISURE FACILITIES & SERVICES - 2.1% | ||||||||
1,535 | Chipotle Mexican Grill, Inc.(a) | 3,510,484 | ||||||
MACHINERY - 1.8% | ||||||||
27,432 | Oshkosh Corporation | 2,973,903 | ||||||
MEDICAL EQUIPMENT & DEVICES - 6.9% | ||||||||
4,960 | Danaher Corporation | 1,147,446 | ||||||
17,416 | Insulet Corporation(a) | 3,778,924 | ||||||
9,511 | Intuitive Surgical, Inc.(a) | 3,208,631 | ||||||
46,825 | Merit Medical Systems, Inc.(a) | 3,556,827 | ||||||
11,691,828 | ||||||||
OIL & GAS PRODUCERS - 2.9% | ||||||||
23,554 | ConocoPhillips | 2,733,913 | ||||||
13,713 | Diamondback Energy, Inc. | 2,126,612 | ||||||
4,860,525 | ||||||||
RETAIL - CONSUMER STAPLES - 1.6% | ||||||||
4,071 | Costco Wholesale Corporation | 2,687,186 |
TIMOTHY PLAN LARGE/MID CAP GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 84.8% (Continued) | ||||||||
RETAIL - DISCRETIONARY - 3.2% | ||||||||
7,627 | Lowes Companies, Inc. | $ | 1,697,389 | |||||
3,960 | OReilly Automotive, Inc.(a) | 3,762,317 | ||||||
5,459,706 | ||||||||
SEMICONDUCTORS - 13.9% | ||||||||
24,663 | Advanced Micro Devices, Inc.(a) | 3,635,573 | ||||||
10,155 | Analog Devices, Inc. | 2,016,377 | ||||||
5,779 | Broadcom, Inc. | 6,450,808 | ||||||
4,029 | KLA Corporation | 2,342,058 | ||||||
10,072 | NVIDIA Corporation | 4,987,855 | ||||||
7,512 | NXP Semiconductors N.V. | 1,725,356 | ||||||
30,806 | ON Semiconductor Corporation(a) | 2,573,225 | ||||||
23,731,252 | ||||||||
SOFTWARE - 13.7% | ||||||||
43,735 | DocuSign, Inc.(a) | 2,600,046 | ||||||
3,037 | HubSpot, Inc.(a) | 1,763,100 | ||||||
1,752 | MongoDB, Inc.(a) | 716,305 | ||||||
20,149 | Palo Alto Networks, Inc.(a) | 5,941,538 | ||||||
5,774 | ServiceNow, Inc.(a) | 4,079,273 | ||||||
7,851 | Synopsys, Inc.(a) | 4,042,558 | ||||||
9,560 | Tyler Technologies, Inc.(a) | 3,997,227 | ||||||
23,140,047 | ||||||||
TECHNOLOGY HARDWARE - 4.1% | ||||||||
12,245 | Arista Networks, Inc.(a) | 2,883,820 | ||||||
49,510 | Ciena Corporation(a) | 2,228,445 | ||||||
20,529 | Seagate Technology Holdings plc | 1,752,561 | ||||||
6,864,826 | ||||||||
TECHNOLOGY SERVICES - 2.3% | ||||||||
16,971 | CDW Corporation | 3,857,848 | ||||||
TRANSPORTATION & LOGISTICS - 1.4% | ||||||||
29,006 | Canadian Pacific Kansas City Ltd. | 2,293,214 | ||||||
TIMOTHY PLAN LARGE/MID CAP GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 84.8% (Continued) | ||||||||
TRANSPORTATION EQUIPMENT - 0.9% | ||||||||
16,394 | PACCAR, Inc. | $ | 1,600,874 | |||||
TOTAL COMMON STOCKS (Cost $108,074,359) | 143,532,345 | |||||||
EXCHANGE-TRADED FUNDS — 13.1% | ||||||||
EQUITY - 13.1% | ||||||||
624,000 | Timothy Plan US Large/Mid Cap Core Enhanced ETF(b) | 14,220,898 | ||||||
209,000 | Timothy Plan US Large/Mid Cap Core ETF(b) | 7,986,266 | ||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $21,565,045) | 22,207,164 | |||||||
SHORT-TERM INVESTMENTS — 2.1% | ||||||||
MONEY MARKET FUNDS - 2.1% | ||||||||
3,616,211 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $3,616,211)(c) | 3,616,211 | ||||||
TOTAL INVESTMENTS - 100.0% (Cost $133,255,615) | $ | 169,355,720 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS – (0.0)% | (11,813 | ) | ||||||
NET ASSETS - 100.0% | $ | 169,343,907 | ||||||
ETF | - Exchange-Traded Fund |
LTD | - Limited Company |
NV | - Naamioze Vennootschap |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
(a) | Non-income producing security. |
(b) | Investment in affiliate. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN SMALL CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 88.0% | ||||||||
AEROSPACE & DEFENSE - 2.6% | ||||||||
43,064 | Mercury Systems, Inc.(a) | $ | 1,574,850 | |||||
22,431 | Moog, Inc., Class A | 3,247,561 | ||||||
4,822,411 | ||||||||
BANKING - 15.0% | ||||||||
95,144 | Atlantic Union Bankshares Corporation | 3,476,562 | ||||||
40,392 | Banner Corporation | 2,163,396 | ||||||
29,571 | City Holding Company | 3,260,498 | ||||||
94,772 | First Bancorp | 3,507,512 | ||||||
48,180 | National Bank Holdings Corporation, Class A | 1,791,814 | ||||||
98,660 | Provident Financial Services, Inc. | 1,778,840 | ||||||
98,742 | Renasant Corporation | 3,325,631 | ||||||
117,585 | Seacoast Banking Corporation of Florida | 3,346,469 | ||||||
44,159 | Triumph Financial, Inc.(a) | 3,540,668 | ||||||
74,099 | Veritex Holdings, Inc. | 1,724,284 | ||||||
27,915,674 | ||||||||
BIOTECH & PHARMA - 1.7% | ||||||||
52,156 | Prestige Consumer Healthcare, Inc.(a) | 3,192,990 | ||||||
CHEMICALS - 4.7% | ||||||||
40,015 | Avient Corporation | 1,663,424 | ||||||
185,765 | Ecovyst, Inc.(a) | 1,814,924 | ||||||
15,172 | Innospec, Inc. | 1,869,797 | ||||||
36,326 | Stepan Company | 3,434,623 | ||||||
8,782,768 | ||||||||
COMMERCIAL SUPPORT SERVICES - 0.8% | ||||||||
136,303 | Legalzoom.com, Inc.(a) | 1,540,224 | ||||||
CONSTRUCTION MATERIALS - 0.9% | ||||||||
44,729 | Summit Materials, Inc., Class A(a) | 1,720,277 | ||||||
ELECTRIC UTILITIES - 3.4% | ||||||||
90,801 | Avista Corporation | 3,245,227 | ||||||
61,467 | NorthWestern Corporation | 3,128,056 | ||||||
6,373,283 |
TIMOTHY PLAN SMALL CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 88.0% (Continued) | ||||||||
ENGINEERING & CONSTRUCTION - 0.9% | ||||||||
7,764 | Comfort Systems USA, Inc. | $ | 1,596,822 | |||||
FOOD - 1.8% | ||||||||
20,042 | J & J Snack Foods Corporation | 3,349,820 | ||||||
FORESTRY, PAPER & WOOD PRODUCTS - 1.8% | ||||||||
26,145 | Boise Cascade Company | 3,382,117 | ||||||
HEALTH CARE FACILITIES & SERVICES - 1.9% | ||||||||
122,904 | Patterson Companies, Inc. | 3,496,619 | ||||||
HOME CONSTRUCTION - 2.8% | ||||||||
20,729 | Century Communities, Inc. | 1,889,241 | ||||||
40,764 | Masonite International Corporation(a) | 3,451,080 | ||||||
5,340,321 | ||||||||
HOUSEHOLD PRODUCTS - 0.9% | ||||||||
39,006 | Central Garden & Pet Company, Class A(a) | 1,717,824 | ||||||
INDUSTRIAL INTERMEDIATE PROD - 0.9% | ||||||||
29,841 | AZZ, Inc. | 1,733,464 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 3.5% | ||||||||
56,971 | Moelis & Co., Class A | 3,197,782 | ||||||
19,167 | Piper Sandler Cos | 3,351,734 | ||||||
6,549,516 | ||||||||
INSURANCE - 2.8% | ||||||||
37,225 | AMERISAFE, Inc. | 1,741,386 | ||||||
146,772 | BRP Group, Inc., Class A(a) | 3,525,463 | ||||||
5,266,849 | ||||||||
LEISURE FACILITIES & SERVICES - 2.6% | ||||||||
42,955 | Chuys Holdings, Inc.(a) | 1,642,170 | ||||||
43,069 | Papa Johns International, Inc. | 3,283,150 | ||||||
4,925,320 |
TIMOTHY PLAN SMALL CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 88.0% (Continued) | ||||||||
MACHINERY - 5.5% | ||||||||
16,352 | Alamo Group, Inc. | $ | 3,437,027 | |||||
34,680 | Albany International Corporation, Class A | 3,406,270 | ||||||
42,529 | Federal Signal Corporation | 3,263,675 | ||||||
10,106,972 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 4.5% | ||||||||
111,763 | Avanos Medical, Inc.(a) | 2,506,844 | ||||||
28,904 | CONMED Corporation | 3,165,277 | ||||||
38,347 | Merit Medical Systems, Inc.(a) | 2,912,838 | ||||||
8,584,959 | ||||||||
METALS & MINING - 2.7% | ||||||||
87,359 | Constellium S.E.(a) | 1,743,686 | ||||||
15,880 | Encore Wire Corporation | 3,391,968 | ||||||
5,135,654 | ||||||||
OFFICE REIT - 2.6% | ||||||||
126,820 | COPT Defense Properties | 3,250,397 | ||||||
128,214 | Easterly Government Properties, Inc. | 1,723,196 | ||||||
4,973,593 | ||||||||
OIL & GAS PRODUCERS - 6.6% | ||||||||
217,271 | Enerplus Corporation | 3,332,937 | ||||||
87,439 | Northern Oil and Gas, Inc. | 3,241,364 | ||||||
140,685 | Sitio Royalties Corporation, Class A | 3,307,504 | ||||||
64,803 | SM Energy Company | 2,509,172 | ||||||
12,390,977 | ||||||||
OIL & GAS SERVICES & EQUIPMENT - 0.9% | ||||||||
17,465 | Weatherford International plc(a) | 1,708,601 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 6.4% | ||||||||
134,816 | Plymouth Industrial REIT, Inc. | 3,245,021 | ||||||
68,538 | PotlatchDeltic Corporation | 3,365,216 | ||||||
261,884 | Summit Hotel Properties, Inc. | 1,759,860 | ||||||
189,629 | Urban Edge Properties | 3,470,211 | ||||||
11,840,308 | ||||||||
RETAIL - DISCRETIONARY - 3.7% | ||||||||
52,205 | Academy Sports & Outdoors, Inc. | 3,445,530 |
TIMOTHY PLAN SMALL CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 88.0% (Continued) | ||||||||
RETAIL - DISCRETIONARY - 3.7% (Continued) | ||||||||
8,657 | Boot Barn Holdings, Inc.(a) | $ | 664,511 | |||||
31,101 | Monro, Inc. | 912,503 | ||||||
32,560 | Sonic Automotive, Inc., Class A | 1,830,198 | ||||||
6,852,742 | ||||||||
RETAIL REIT - 1.7% | ||||||||
127,517 | Four Corners Property Trust, Inc. | 3,226,180 | ||||||
TECHNOLOGY HARDWARE - 1.9% | ||||||||
353,074 | Viavi Solutions, Inc.(a) | 3,555,455 | ||||||
TELECOMMUNICATIONS - 0.9% | ||||||||
22,531 | Cogent Communications Holdings, Inc. | 1,713,708 | ||||||
TRANSPORTATION & LOGISTICS - 1.6% | ||||||||
25,458 | ArcBest Corporation | 3,060,306 | ||||||
TOTAL COMMON STOCKS (Cost $148,644,304) | 164,855,754 | |||||||
EXCHANGE-TRADED FUNDS — 10.9% | ||||||||
EQUITY - 10.9% | ||||||||
580,000 | Timothy Plan US Small Cap Core ETF(b) (Cost $14,834,080) | 20,520,400 | ||||||
SHORT-TERM INVESTMENTS — 1.5% | ||||||||
MONEY MARKET FUNDS - 1.5% | ||||||||
2,756,529 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $2,756,529)(c) | 2,756,529 | ||||||
TOTAL INVESTMENTS - 100.4% (Cost $166,234,913) | $ | 188,132,683 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.4)% | (666,460 | ) | ||||||
NET ASSETS - 100.0% | $ | 187,466,223 | ||||||
ETF | - Exchange-Traded Fund |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S.E | - Societas Europea |
(a) | Non-income producing security. |
(b) | Investment in affiliate. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN LARGE/MID CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 78.8% | ||||||||
AEROSPACE & DEFENSE - 1.8% | ||||||||
21,813 | General Dynamics Corporation | $ | 5,664,182 | |||||
BANKING - 3.4% | ||||||||
61,433 | BOK Financial Corporation | 5,261,736 | ||||||
47,794 | Cullen/Frost Bankers, Inc. | 5,185,171 | ||||||
10,446,907 | ||||||||
CHEMICALS - 2.3% | ||||||||
22,268 | Sherwin-Williams Company (The) | 6,945,389 | ||||||
COMMERCIAL SUPPORT SERVICES - 1.9% | ||||||||
39,871 | Waste Connections, Inc. | 5,951,544 | ||||||
CONTAINERS & PACKAGING - 1.6% | ||||||||
55,114 | Crown Holdings, Inc. | 5,075,448 | ||||||
DIVERSIFIED INDUSTRIALS - 2.6% | ||||||||
32,487 | Eaton Corporation PLC | 7,823,519 | ||||||
ELECTRIC UTILITIES - 3.5% | ||||||||
89,542 | CMS Energy Corporation | 5,199,704 | ||||||
66,304 | WEC Energy Group, Inc. | 5,580,808 | ||||||
10,780,512 | ||||||||
FOOD - 3.7% | ||||||||
45,194 | J M Smucker Company (The) | 5,711,618 | ||||||
83,359 | McCormick & Company, Inc. | 5,703,423 | ||||||
11,415,041 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 1.7% | ||||||||
19,366 | HCA Healthcare, Inc. | 5,241,989 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 2.1% | ||||||||
51,569 | Intercontinental Exchange, Inc. | 6,623,007 |
TIMOTHY PLAN LARGE/MID CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 78.8% (Continued) | ||||||||
INSURANCE - 2.2% | ||||||||
30,074 | Arthur J Gallagher & Company | $ | 6,763,041 | |||||
LEISURE FACILITIES & SERVICES - 4.6% | ||||||||
2,812 | Chipotle Mexican Grill, Inc.(a) | 6,430,932 | ||||||
18,731 | Dominos Pizza, Inc. | 7,721,480 | ||||||
14,152,412 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 6.0% | ||||||||
28,024 | Danaher Corporation | 6,483,072 | ||||||
65,307 | Revvity, Inc. | 7,138,708 | ||||||
23,046 | STERIS plc | 5,066,663 | ||||||
18,688,443 | ||||||||
OIL & GAS PRODUCERS - 3.9% | ||||||||
54,647 | ConocoPhillips | 6,342,877 | ||||||
48,266 | EOG Resources, Inc. | 5,837,773 | ||||||
12,180,650 | ||||||||
REAL ESTATE INVESTMENT TRUSTS - 4.2% | ||||||||
49,812 | Crown Castle, Inc. | 5,737,844 | ||||||
54,075 | Prologis, Inc. | 7,208,198 | ||||||
12,946,042 | ||||||||
RETAIL - CONSUMER STAPLES - 4.3% | ||||||||
9,508 | Costco Wholesale Corporation | 6,276,041 | ||||||
51,036 | Dollar General Corporation | 6,938,343 | ||||||
13,214,384 | ||||||||
RETAIL - DISCRETIONARY - 6.5% | ||||||||
28,619 | Lowes Companies, Inc. | 6,369,158 | ||||||
8,006 | OReilly Automotive, Inc.(a) | 7,606,341 | ||||||
28,837 | Tractor Supply Company | 6,200,820 | ||||||
20,176,319 | ||||||||
SEMICONDUCTORS - 11.8% | ||||||||
7,708 | Broadcom, Inc. | 8,604,056 | ||||||
79,794 | Lattice Semiconductor Corporation(a) | 5,504,988 | ||||||
75,189 | Microchip Technology, Inc. | 6,780,544 | ||||||
12,515 | Monolithic Power Systems, Inc. | 7,894,212 |
TIMOTHY PLAN LARGE/MID CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 78.8% (Continued) | ||||||||
SEMICONDUCTORS - 11.8% (Continued) | ||||||||
15,678 | NVIDIA Corporation | $ | 7,764,059 | |||||
36,547,859 | ||||||||
SOFTWARE - 6.1% | ||||||||
24,878 | Cadence Design Systems, Inc.(a) | 6,776,022 | ||||||
11,229 | Synopsys, Inc.(a) | 5,781,924 | ||||||
14,719 | Tyler Technologies, Inc.(a) | 6,154,308 | ||||||
18,712,254 | ||||||||
TECHNOLOGY SERVICES - 2.1% | ||||||||
20,120 | CACI International, Inc., Class A(a) | 6,516,063 | ||||||
TRANSPORTATION & LOGISTICS - 2.5% | ||||||||
31,118 | Union Pacific Corporation | 7,643,203 | ||||||
TOTAL COMMON STOCKS (Cost $175,008,302) | 243,508,208 | |||||||
EXCHANGE-TRADED FUNDS — 16.9% | ||||||||
EQUITY - 16.9% | ||||||||
573,000 | Timothy Plan High Dividend Stock Enhanced ETF(b) | 12,959,255 | ||||||
382,500 | Timothy Plan High Dividend Stock ETF(b) | 12,666,908 | ||||||
634,000 | Timothy Plan US Large/Mid Cap Core Enhanced ETF(b) | 14,448,797 | ||||||
318,000 | Timothy Plan US Large/Mid Cap Core ETF(b) | 12,151,352 | ||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $48,945,129) | 52,226,312 | |||||||
TIMOTHY PLAN LARGE/MID CAP VALUE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 4.3% | ||||||||
MONEY MARKET FUNDS - 4.3% | ||||||||
13,402,344 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $13,402,344)(c) | $ | 13,402,344 | |||||
TOTAL INVESTMENTS - 100.0% (Cost $237,355,775) | $ | 309,136,864 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0% | (63,178 | ) | ||||||
NET ASSETS - 100.0% | $ | 309,073,686 | ||||||
ETF | - Exchange-Traded Fund |
PLC | - Public Limited Company |
(a) | Non-income producing security. |
(b) | Investment in affiliate. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN FIXED INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 29.9% | ||||||||||||
CHEMICALS — 2.1% | ||||||||||||
1,570,000 | Nutrien Ltd. | 4.0000 | 12/15/26 | $ | 1,535,565 | |||||||
805,000 | Nutrien Ltd. | 2.9500 | 05/13/30 | 728,414 | ||||||||
2,263,979 | ||||||||||||
COMMERCIAL SUPPORT SERVICES — 0.8% | ||||||||||||
450,000 | Republic Services, Inc. | 5.0000 | 04/01/34 | 461,920 | ||||||||
450,000 | Waste Management, Inc. | 4.6250 | 02/15/33 | 452,541 | ||||||||
914,461 | ||||||||||||
ELECTRIC UTILITIES — 4.5% | ||||||||||||
2,205,000 | American Electric Power Company, Inc. | 3.2000 | 11/13/27 | 2,102,206 | ||||||||
1,000,000 | Electricite de France S.A.(a) | 5.7000 | 05/23/28 | 1,036,435 | ||||||||
855,000 | National Rural Utilities Cooperative Finance | 2.9500 | 02/07/24 | 852,482 | ||||||||
405,000 | National Rural Utilities Cooperative Finance | 5.0500 | 09/15/28 | 415,822 | ||||||||
442,000 | WEC Energy Group, Inc. | 3.5500 | 06/15/25 | 430,328 | ||||||||
4,837,273 | ||||||||||||
GAS & WATER UTILITIES — 1.9% | ||||||||||||
2,185,000 | NiSource, Inc. | 3.4900 | 05/15/27 | 2,107,125 | ||||||||
INSTITUTIONAL FINANCIAL SERVICES — 0.9% | ||||||||||||
1,000,000 | Cboe Global Markets, Inc. | 3.6500 | 01/12/27 | 971,234 | ||||||||
MACHINERY — 1.6% | ||||||||||||
900,000 | Caterpillar Financial Services Corporation | 4.3500 | 05/15/26 | 898,788 | ||||||||
900,000 | John Deere Capital Corporation | 3.9000 | 06/07/32 | 869,687 | ||||||||
1,768,475 | ||||||||||||
METALS & MINING — 1.8% | ||||||||||||
1,430,000 | BHP Billiton Finance USA Ltd. | 5.2500 | 09/08/33 | 1,487,004 | ||||||||
450,000 | Rio Tinto Finance USA plc | 5.0000 | 03/09/33 | 469,189 | ||||||||
1,956,193 | ||||||||||||
OIL & GAS PRODUCERS — 7.1% | ||||||||||||
1,815,000 | Columbia Pipelines Holding Company, LLC(a) | 6.0420 | 08/15/28 | 1,876,415 | ||||||||
1,980,000 | Energy Transfer Operating, L.P. | 6.2500 | 04/15/49 | 2,056,959 | ||||||||
1,125,000 | Energy Transfer, L.P. | 5.7500 | 02/15/33 | 1,162,123 | ||||||||
450,000 | Enterprise Products Operating, LLC | 5.3500 | 01/31/33 | 472,095 |
TIMOTHY PLAN FIXED INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 29.9% (Continued) | ||||||||||||
OIL & GAS PRODUCERS — 7.1% (Continued) | ||||||||||||
2,240,000 | Phillips 66 Company | 3.6050 | 02/15/25 | $ | 2,202,625 | |||||||
7,770,217 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 3.2% | ||||||||||||
1,520,000 | Digital Realty Trust, L.P. | 3.7000 | 08/15/27 | 1,467,669 | ||||||||
2,200,000 | Healthpeak Properties, Inc. | 3.5000 | 07/15/29 | 2,056,306 | ||||||||
3,523,975 | ||||||||||||
RETAIL - CONSUMER STAPLES — 1.4% | ||||||||||||
1,575,000 | Dollar General Corporation | 4.1250 | 05/01/28 | 1,545,546 | ||||||||
RETAIL - DISCRETIONARY — 1.7% | ||||||||||||
1,795,000 | Tractor Supply Company | 5.2500 | 05/15/33 | 1,841,298 | ||||||||
TRANSPORTATION & LOGISTICS — 2.9% | ||||||||||||
1,000,000 | Canadian Pacific Railway Company | 2.9000 | 02/01/25 | 976,623 | ||||||||
2,190,000 | CSX Corporation | 3.2500 | 06/01/27 | 2,112,678 | ||||||||
3,089,301 | ||||||||||||
TOTAL CORPORATE BONDS (Cost $33,223,127) | 32,589,077 | |||||||||||
NON U.S. GOVERNMENT & AGENCIES — 2.0% | ||||||||||||
LOCAL AUTHORITY — 2.0% | ||||||||||||
2,235,000 | Province of Ontario Canada (Cost $2,285,285) | 2.5000 | 04/27/26 | 2,145,586 | ||||||||
U.S. GOVERNMENT & AGENCIES — 66.7% | ||||||||||||
AGENCY FIXED RATE — 36.8% | ||||||||||||
1,209,045 | Fannie Mae Pool FM5537 | 2.0000 | 01/01/36 | 1,093,159 | ||||||||
909,528 | Fannie Mae Pool MA4316 | 2.5000 | 04/01/36 | 838,535 | ||||||||
670,354 | Fannie Mae Pool MA4366 | 2.5000 | 06/01/41 | 597,641 | ||||||||
395,369 | Fannie Mae Pool MA4475 | 2.5000 | 10/01/41 | 350,921 | ||||||||
1,144,760 | Fannie Mae Pool MA4617 | 3.0000 | 04/01/42 | 1,047,270 |
TIMOTHY PLAN FIXED INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 66.7% (Continued) | ||||||||||||
AGENCY FIXED RATE — 36.8% (Continued) | ||||||||||||
930,654 | Fannie Mae Pool FM4053 | 2.5000 | 08/01/50 | $ | 804,081 | |||||||
1,250,045 | Fannie Mae Pool CA8897 | 3.0000 | 02/01/51 | 1,120,350 | ||||||||
818,145 | Fannie Mae Pool MA4258 | 3.5000 | 02/01/51 | 762,553 | ||||||||
435,083 | Fannie Mae Pool FM6550 | 2.0000 | 03/01/51 | 362,211 | ||||||||
793,525 | Fannie Mae Pool CB0855 | 3.0000 | 06/01/51 | 704,624 | ||||||||
1,461,052 | Fannie Mae Pool FS3744 | 2.0000 | 07/01/51 | 1,201,538 | ||||||||
486,086 | Fannie Mae Pool FS1807 | 3.5000 | 07/01/51 | 453,183 | ||||||||
1,342,936 | Fannie Mae Pool FS6141 | 2.0000 | 01/01/52 | 1,107,913 | ||||||||
926,126 | Fannie Mae Pool CB3486 | 3.5000 | 05/01/52 | 851,180 | ||||||||
504,797 | Fannie Mae Pool FS1704 | 4.0000 | 05/01/52 | 482,992 | ||||||||
847,792 | Fannie Mae Pool BV9960 | 4.0000 | 06/01/52 | 806,600 | ||||||||
1,705,701 | Fannie Mae Pool FS3392 | 4.0000 | 09/01/52 | 1,616,133 | ||||||||
877,141 | Fannie Mae Pool FS3159 | 4.5000 | 10/01/52 | 854,865 | ||||||||
864,996 | Fannie Mae Pool FS4075 | 5.0000 | 04/01/53 | 862,190 | ||||||||
871,333 | Fannie Mae Pool FS5044 | 4.5000 | 06/01/53 | 851,026 | ||||||||
1,004,508 | Fannie Mae Pool FS5850 | 6.0000 | 09/01/53 | 1,021,831 | ||||||||
56,591 | Ginnie Mae I Pool 723248 | 5.0000 | 10/15/39 | 57,172 | ||||||||
232,676 | Ginnie Mae I Pool 783060 | 4.0000 | 08/15/40 | 226,342 | ||||||||
128,113 | Ginnie Mae I Pool 783403 | 3.5000 | 09/15/41 | 120,901 | ||||||||
99,787 | Ginnie Mae II Pool 4520 | 5.0000 | 08/20/39 | 101,783 | ||||||||
134,062 | Ginnie Mae II Pool 4947 | 5.0000 | 02/20/41 | 135,731 | ||||||||
238,542 | Ginnie Mae II Pool MA3376 | 3.5000 | 01/20/46 | 225,563 | ||||||||
152,502 | Ginnie Mae II Pool MA3596 | 3.0000 | 04/20/46 | 140,488 | ||||||||
407,533 | Ginnie Mae II Pool MA3663 | 3.5000 | 05/20/46 | 384,679 | ||||||||
146,550 | Ginnie Mae II Pool MA3736 | 3.5000 | 06/20/46 | 138,311 | ||||||||
250,635 | Ginnie Mae II Pool MA4004 | 3.5000 | 10/20/46 | 236,488 | ||||||||
168,913 | Ginnie Mae II Pool MA4509 | 3.0000 | 06/20/47 | 155,239 | ||||||||
202,603 | Ginnie Mae II Pool MA4652 | 3.5000 | 08/20/47 | 191,029 | ||||||||
249,002 | Ginnie Mae II Pool MA4719 | 3.5000 | 09/20/47 | 234,759 | ||||||||
255,522 | Ginnie Mae II Pool MA4778 | 3.5000 | 10/20/47 | 240,886 | ||||||||
204,089 | Ginnie Mae II Pool MA4901 | 4.0000 | 12/20/47 | 196,880 | ||||||||
174,657 | Ginnie Mae II Pool MA4963 | 4.0000 | 01/20/48 | 168,809 | ||||||||
168,196 | Ginnie Mae II Pool MA6092 | 4.5000 | 08/20/49 | 165,475 | ||||||||
180,341 | Ginnie Mae II Pool MA6156 | 4.5000 | 09/20/49 | 177,581 |
TIMOTHY PLAN FIXED INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 66.7% (Continued) | ||||||||||||
AGENCY FIXED RATE — 36.8% (Continued) | ||||||||||||
621,561 | Ginnie Mae II Pool BN2662 | 3.0000 | 10/20/49 | $ | 564,097 | |||||||
165,775 | Ginnie Mae II Pool MA6221 | 4.5000 | 10/20/49 | 163,953 | ||||||||
168,534 | Ginnie Mae II Pool MA6477 | 4.5000 | 02/20/50 | 166,654 | ||||||||
261,204 | Ginnie Mae II Pool MA6478 | 5.0000 | 02/20/50 | 263,703 | ||||||||
272,352 | Ginnie Mae II Pool MA6544 | 4.5000 | 03/20/50 | 269,245 | ||||||||
188,577 | Ginnie Mae II Pool MA6545 | 5.0000 | 03/20/50 | 190,431 | ||||||||
1,076,345 | Ginnie Mae II Pool MA6598 | 2.5000 | 04/20/50 | 946,351 | ||||||||
270,446 | Ginnie Mae II Pool MA6600 | 3.5000 | 04/20/50 | 254,444 | ||||||||
228,945 | Ginnie Mae II Pool MA6601 | 4.0000 | 04/20/50 | 220,955 | ||||||||
207,902 | Ginnie Mae II Pool MA6603 | 5.0000 | 04/20/50 | 209,890 | ||||||||
964,284 | Ginnie Mae II Pool MA7255 | 2.5000 | 03/20/51 | 844,621 | ||||||||
712,168 | Ginnie Mae II Pool MA7418 | 2.5000 | 06/20/51 | 623,886 | ||||||||
1,191,857 | Ginnie Mae II Pool MA7419 | 3.0000 | 06/20/51 | 1,083,375 | ||||||||
1,076,252 | Ginnie Mae II Pool MA7472 | 2.5000 | 07/20/51 | 943,283 | ||||||||
1,247,527 | Ginnie Mae II Pool CE1974 | 3.0000 | 08/20/51 | 1,144,394 | ||||||||
1,071,713 | Ginnie Mae II Pool CE1990 | 2.5000 | 09/20/51 | 937,655 | ||||||||
1,261,076 | Ginnie Mae II Pool MA7705 | 2.5000 | 11/20/51 | 1,104,436 | ||||||||
1,015,911 | Ginnie Mae II Pool MA7768 | 3.0000 | 12/20/51 | 920,997 | ||||||||
1,035,951 | Ginnie Mae II Pool MA7829 | 3.5000 | 01/20/52 | 965,263 | ||||||||
1,019,394 | Ginnie Mae II Pool MA7939 | 4.0000 | 03/20/52 | 973,725 | ||||||||
1,125,305 | Ginnie Mae II Pool MA7987 | 2.5000 | 04/20/52 | 985,253 | ||||||||
1,110,390 | Ginnie Mae II Pool MA8098 | 3.0000 | 06/20/52 | 1,006,534 | ||||||||
1,084,594 | Ginnie Mae II Pool MA8268 | 4.5000 | 09/20/52 | 1,059,702 | ||||||||
1,001,135 | Ginnie Mae II Pool MA8800 | 5.0000 | 04/20/53 | 995,864 | ||||||||
1,209,660 | Ginnie Mae II Pool MA8943 | 3.0000 | 06/20/53 | 1,099,056 | ||||||||
1,047,585 | Ginnie Mae II Pool MA9017 | 5.5000 | 07/20/53 | 1,054,971 | ||||||||
TOTAL AGENCY FIXED RATE (Cost $43,247,036) | 40,081,650 | |||||||||||
U.S. TREASURY NOTES — 29.9% | ||||||||||||
700,000 | United States Treasury Note | 2.2500 | 11/15/24 | 684,361 | ||||||||
1,525,000 | United States Treasury Note | 2.0000 | 08/15/25 | 1,467,991 | ||||||||
3,530,000 | United States Treasury Note | 0.6250 | 07/31/26 | 3,234,845 | ||||||||
6,325,000 | United States Treasury Note | 1.2500 | 09/30/28 | 5,612,079 | ||||||||
3,015,000 | United States Treasury Note | 1.2500 | 08/15/31 | 2,499,918 |
TIMOTHY PLAN FIXED INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 66.7% (Continued) | ||||||||||||
U.S. TREASURY NOTES — 29.9% (Continued) | ||||||||||||
7,810,000 | United States Treasury Note | 3.5000 | 02/15/33 | 7,589,886 | ||||||||
5,215,000 | United States Treasury Note | 1.7500 | 08/15/41 | 3,643,065 | ||||||||
2,570,000 | United States Treasury Note | 2.0000 | 08/15/51 | 1,687,717 | ||||||||
6,635,000 | United States Treasury Note | 3.6250 | 02/15/53 | 6,157,720 | ||||||||
TOTAL U.S. TREASURY NOTES (Cost $34,621,565) | 32,577,582 | |||||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $77,868,601) | 72,659,232 | |||||||||||
Shares | ||||||||||||
SHORT-TERM INVESTMENTS — 0.7% | ||||||||||||
MONEY MARKET FUNDS - 0.7% | ||||||||||||
845,961 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $845,961)(b) | 845,961 | ||||||||||
TOTAL INVESTMENTS - 99.3% (Cost $114,222,974) | $ | 108,239,856 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.7% | 734,963 | |||||||||||
NET ASSETS - 100.0% | $ | 108,974,819 | ||||||||||
LLC | - Limited Liability Company |
LP | - Limited Partnership |
LTD | - Limited Company |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S.A. | - Société Anonyme |
(a) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 2,912,850 or 2.7% of net assets. |
(b) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% | ||||||||||||||
AEROSPACE & DEFENSE — 0.7% | ||||||||||||||
1,250,000 | TransDigm, Inc.(a) | 6.8750 | 12/15/30 | $ | 1,288,319 | |||||||||
ASSET MANAGEMENT — 1.5% | ||||||||||||||
1,600,000 | AG TTMT Escrow Issuer, LLC(a) | 8.6250 | 09/30/27 | 1,683,845 | ||||||||||
1,000,000 | NFP Corporation(a) | 8.5000 | 10/01/31 | 1,083,226 | ||||||||||
2,767,071 | ||||||||||||||
AUTOMOTIVE — 3.7% | ||||||||||||||
2,250,000 | Adient Global Holdings Ltd.(a) | 8.2500 | 04/15/31 | 2,383,958 | ||||||||||
2,000,000 | Goodyear Tire & Rubber Company (The) | 5.6250 | 04/30/33 | 1,795,665 | ||||||||||
3,000,000 | Tenneco, Inc.(a) | 8.0000 | 11/17/28 | 2,563,981 | ||||||||||
6,743,604 | ||||||||||||||
BIOTECH & PHARMA — 0.3% | ||||||||||||||
439,000 | Bausch Health Americas, Inc.(a) | 8.5000 | 01/31/27 | 244,329 | ||||||||||
579,000 | Emergent BioSolutions, Inc.(a) | 3.8750 | 08/15/28 | 237,514 | ||||||||||
481,843 | ||||||||||||||
CHEMICALS — 6.0% | ||||||||||||||
2,000,000 | Avient Corporation(a) | 7.1250 | 08/01/30 | 2,083,018 | ||||||||||
1,500,000 | Axalta Coating Systems Dutch Holding B BV(a) | 7.2500 | 02/15/31 | 1,580,625 | ||||||||||
2,500,000 | Axalta Coating Systems LLC(a) | 3.3750 | 02/15/29 | 2,248,006 | ||||||||||
3,000,000 | Chemours Company (The)(a) | 4.6250 | 11/15/29 | 2,636,674 | ||||||||||
2,000,000 | Polar US Borrower, LLC / Schenectady International(a) | 6.7500 | 05/15/26 | 651,920 | ||||||||||
1,750,000 | WR Grace Holdings, LLC(a) | 7.3750 | 03/01/31 | 1,753,325 | ||||||||||
10,953,568 | ||||||||||||||
COMMERCIAL SUPPORT SERVICES — 8.6% | ||||||||||||||
125,000 | Atlas LuxCompany 4 S.A.RL / Allied Universal(a) | 4.6250 | 06/01/28 | 114,388 | ||||||||||
1,625,000 | Clean Harbors, Inc.(a) | 6.3750 | 02/01/31 | 1,654,097 | ||||||||||
2,250,000 | Covanta Holding Corporation | 5.0000 | 09/01/30 | 1,920,004 | ||||||||||
1,625,000 | Covert Mergeco, Inc.(a) | 4.8750 | 12/01/29 | 1,421,680 | ||||||||||
3,300,000 | GFL Environmental Inc(a) | 4.0000 | 08/01/28 | 3,052,845 | ||||||||||
500,000 | GFL Environmental, Inc.(a) | 6.7500 | 01/15/31 | 515,862 | ||||||||||
3,255,000 | Harsco Corporation(a) | 5.7500 | 07/31/27 | 3,038,728 | ||||||||||
2,200,000 | Waste Pro USA, Inc.(a) | 5.5000 | 02/15/26 | 2,119,986 | ||||||||||
1,750,000 | Williams Scotsman, Inc.(a) | 7.3750 | 10/01/31 | 1,837,131 | ||||||||||
15,674,721 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% (Continued) | ||||||||||||||
CONSTRUCTION MATERIALS — 0.5% | ||||||||||||||
500,000 | Cemex S.A.B. de C.V.(a) | 5.2000 | 09/17/30 | $ | 482,128 | |||||||||
500,000 | Cemex S.A.B. de C.V.(a) | 3.8750 | 07/11/31 | 447,663 | ||||||||||
929,791 | ||||||||||||||
CONSUMER SERVICES — 2.0% | ||||||||||||||
2,500,000 | PROG Holdings, Inc.(a) | 6.0000 | 11/15/29 | 2,306,987 | ||||||||||
1,500,000 | Rent-A-Center, Inc.(a) | 6.3750 | 02/15/29 | 1,409,348 | ||||||||||
3,716,335 | ||||||||||||||
CONTAINERS & PACKAGING — 9.7% | ||||||||||||||
875,000 | Ardagh Metal Packaging Finance USA, LLC / Ardagh(a) | 6.0000 | 06/15/27 | 872,249 | ||||||||||
2,000,000 | Ardagh Metal Packaging Finance USA, LLC / Ardagh(a) | 4.0000 | 09/01/29 | 1,697,002 | ||||||||||
1,750,000 | Canpack S.A. / Canpack US, LLC(a) | 3.8750 | 11/15/29 | 1,501,999 | ||||||||||
2,000,000 | Graham Packaging Company, Inc.(a) | 7.1250 | 08/15/28 | 1,802,410 | ||||||||||
1,250,000 | Graphic Packaging International, LLC(a) | 3.7500 | 02/01/30 | 1,126,694 | ||||||||||
1,250,000 | LABL, Inc.(a) | 5.8750 | 11/01/28 | 1,136,719 | ||||||||||
625,000 | LABL, Inc.(a) | 9.5000 | 11/01/28 | 632,031 | ||||||||||
1,000,000 | LABL, Inc.(a) | 8.2500 | 11/01/29 | 844,375 | ||||||||||
3,300,000 | Mauser Packaging Solutions Holding Company(a) | 7.8750 | 08/15/26 | 3,361,031 | ||||||||||
3,500,000 | Pactiv Evergreen Group Issuer, LLC / Pactiv(a) | 4.3750 | 10/15/28 | 3,264,376 | ||||||||||
1,750,000 | TriMas Corporation(a) | 4.1250 | 04/15/29 | 1,574,453 | ||||||||||
17,813,339 | ||||||||||||||
ELECTRIC UTILITIES — 1.2% | ||||||||||||||
2,000,000 | Vistra Corporation(a),(b) | H15T5Y + 5.740% | 7.0000 | 06/15/70 | 1,972,740 | |||||||||
250,000 | Vistra Operations Company, LLC(a) | 4.3750 | 05/01/29 | 233,596 | ||||||||||
2,206,336 | ||||||||||||||
ELECTRICAL EQUIPMENT — 0.5% | ||||||||||||||
500,000 | BWX Technologies, Inc.(a) | 4.1250 | 06/30/28 | 464,147 | ||||||||||
500,000 | BWX Technologies, Inc.(a) | 4.1250 | 04/15/29 | 456,793 | ||||||||||
920,940 | ||||||||||||||
ENGINEERING & CONSTRUCTION — 1.1% | ||||||||||||||
2,194,000 | Dycom Industries, Inc.(a) | 4.5000 | 04/15/29 | 2,038,444 | ||||||||||
FOOD — 0.9% | ||||||||||||||
1,600,000 | Darling Ingredients, Inc.(a) | 6.0000 | 06/15/30 | 1,602,123 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% (Continued) | ||||||||||||||
FORESTRY, PAPER & WOOD PRODUCTS — 0.5% | ||||||||||||||
1,000,000 | Schweitzer-Mauduit International, Inc.(a) | 6.8750 | 10/01/26 | $ | 960,362 | |||||||||
HEALTH CARE FACILITIES & SERVICES — 4.1% | ||||||||||||||
1,000,000 | Catalent Pharma Solutions, Inc.(a) | 3.1250 | 02/15/29 | 876,250 | ||||||||||
500,000 | Heartland Dental, LLC / Heartland Dental Finance(a) | 10.5000 | 04/30/28 | 519,395 | ||||||||||
250,000 | LifePoint Health, Inc.(a) | 5.3750 | 01/15/29 | 185,529 | ||||||||||
2,000,000 | LifePoint Health, Inc.(a) | 9.8750 | 08/15/30 | 2,023,259 | ||||||||||
625,000 | LifePoint Health, Inc.(a) | 11.0000 | 10/15/30 | 659,116 | ||||||||||
1,250,000 | MEDNAX, Inc.(a) | 5.3750 | 02/15/30 | 1,114,266 | ||||||||||
500,000 | Star Parent, Inc.(a) | 9.0000 | 10/01/30 | 527,596 | ||||||||||
1,750,000 | Tenet Healthcare Corporation | 6.1250 | 10/01/28 | 1,746,588 | ||||||||||
7,651,999 | ||||||||||||||
HOME CONSTRUCTION — 4.3% | ||||||||||||||
500,000 | Ashton Woods USA, LLC / Ashton Woods Finance(a) | 6.6250 | 01/15/28 | 487,697 | ||||||||||
1,250,000 | Ashton Woods USA, LLC / Ashton Woods Finance(a) | 4.6250 | 08/01/29 | 1,113,041 | ||||||||||
500,000 | Ashton Woods USA, LLC / Ashton Woods Finance(a) | 4.6250 | 04/01/30 | 446,694 | ||||||||||
3,042,000 | Interface Inc(a) | 5.5000 | 12/01/28 | 2,816,050 | ||||||||||
1,650,000 | STL Holding Company, LLC(a) | 7.5000 | 02/15/26 | 1,608,750 | ||||||||||
1,523,000 | Weekley Homes, LLC / Weekley Finance Corporation(a) | 4.8750 | 09/15/28 | 1,419,404 | ||||||||||
7,891,636 | ||||||||||||||
HOUSEHOLD PRODUCTS — 1.1% | ||||||||||||||
2,050,000 | Energizer Holdings, Inc.(a) | 6.5000 | 12/31/27 | 2,052,114 | ||||||||||
INDUSTRIAL SUPPORT SERVICES — 0.9% | ||||||||||||||
1,500,000 | Ashtead Capital, Inc.(a) | 2.4500 | 08/12/31 | 1,224,589 | ||||||||||
500,000 | BCPE Empire Holdings, Inc.(a) | 7.6250 | 05/01/27 | 483,000 | ||||||||||
1,707,589 | ||||||||||||||
INSTITUTIONAL FINANCIAL SERVICES — 1.6% | ||||||||||||||
1,250,000 | Aretec Escrow Issuer 2, Inc.(a) | 10.0000 | 08/15/30 | 1,329,875 | ||||||||||
1,750,000 | LPL Holdings, Inc.(a) | 4.0000 | 03/15/29 | 1,619,690 | ||||||||||
2,949,565 | ||||||||||||||
INSURANCE — 0.4% | ||||||||||||||
750,000 | HUB International Ltd.(a) | 7.2500 | 06/15/30 | 792,679 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% (Continued) | ||||||||||||||
LEISURE FACILITIES & SERVICES — 1.3% | ||||||||||||||
1,000,000 | Brinker International, Inc.(a) | 8.2500 | 07/15/30 | $ | 1,047,070 | |||||||||
1,250,000 | Raising Canes Restaurants, LLC(a) | 9.3750 | 05/01/29 | 1,335,603 | ||||||||||
2,382,673 | ||||||||||||||
MACHINERY — 0.3% | ||||||||||||||
500,000 | Redwood Star Merger Sub, Inc.(a) | 8.7500 | 04/01/30 | 500,575 | ||||||||||
MEDICAL EQUIPMENT & DEVICES — 1.7% | ||||||||||||||
750,000 | Bausch & Lomb Escrow Corporation(a) | 8.3750 | 10/01/28 | 792,143 | ||||||||||
1,000,000 | Mozart Debt Merger Sub, Inc.(a) | 3.8750 | 04/01/29 | 905,212 | ||||||||||
1,500,000 | Mozart Debt Merger Sub, Inc.(a) | 5.2500 | 10/01/29 | 1,415,568 | ||||||||||
3,112,923 | ||||||||||||||
METALS & MINING — 1.4% | ||||||||||||||
750,000 | Arsenal AIC Parent, LLC(a) | 8.0000 | 10/01/30 | 783,458 | ||||||||||
2,000,000 | Kaiser Aluminum Corporation(a) | 4.5000 | 06/01/31 | 1,727,315 | ||||||||||
2,510,773 | ||||||||||||||
OIL & GAS PRODUCERS — 7.1% | ||||||||||||||
1,250,000 | Colgate Energy Partners III, LLC(a) | 5.8750 | 07/01/29 | 1,220,331 | ||||||||||
2,822,000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC(a) | 5.5000 | 06/15/31 | 2,677,584 | ||||||||||
1,000,000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC | 7.5000 | 12/15/33 | 1,037,778 | ||||||||||
500,000 | Crestwood Midstream Partners, L.P. / Crestwood | 5.7500 | 04/01/25 | 500,513 | ||||||||||
1,500,000 | Crestwood Midstream Partners, L.P. / Crestwood(a) | 5.6250 | 05/01/27 | 1,495,875 | ||||||||||
500,000 | Genesis Energy, L.P. / Genesis Energy Finance | 7.7500 | 02/01/28 | 502,254 | ||||||||||
100,000 | Genesis Energy, L.P. / Genesis Energy Finance | 8.2500 | 01/15/29 | 102,865 | ||||||||||
750,000 | Genesis Energy, L.P. / Genesis Energy Finance | 8.8750 | 04/15/30 | 776,048 | ||||||||||
1,500,000 | Global Partners, L.P. / GLP Finance Corporation | 7.0000 | 08/01/27 | 1,467,930 | ||||||||||
1,250,000 | ITT Holdings, LLC(a) | 6.5000 | 08/01/29 | 1,107,081 | ||||||||||
2,000,000 | NuStar Logistics, L.P. | 5.6250 | 04/28/27 | 1,993,270 | ||||||||||
100,000 | Permian Resources Operating, LLC(a) | 7.0000 | 01/15/32 | 103,146 | ||||||||||
12,984,675 | ||||||||||||||
PUBLISHING & BROADCASTING — 0.3% | ||||||||||||||
750,000 | Gray Television, Inc.(a) | 4.7500 | 10/15/30 | 565,632 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.4% | ||||||||||||||
1,500,000 | Diversified Healthcare Trust | 9.7500 | 06/15/25 | 1,473,803 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% (Continued) | ||||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.4% (Continued) | ||||||||||||||
750,000 | Service Properties Trust | 5.5000 | 12/15/27 | $ | 687,417 | |||||||||
375,000 | Service Properties Trust(a) | 8.6250 | 11/15/31 | 393,182 | ||||||||||
2,554,402 | ||||||||||||||
REAL ESTATE OWNERS & DEVELOPERS — 2.2% | ||||||||||||||
1,000,000 | Greystar Real Estate Partners, LLC(a) | 7.7500 | 09/01/30 | 1,048,850 | ||||||||||
3,499,000 | Howard Hughes Corporation (The)(a) | 4.3750 | 02/01/31 | 3,040,754 | ||||||||||
4,089,604 | ||||||||||||||
RETAIL - CONSUMER STAPLES — 0.6% | ||||||||||||||
1,250,000 | Ingles Markets, Inc.(a) | 4.0000 | 06/15/31 | 1,104,506 | ||||||||||
RETAIL - DISCRETIONARY — 4.8% | ||||||||||||||
2,550,000 | Beacon Roofing Supply, Inc.(a) | 4.1250 | 05/15/29 | 2,320,228 | ||||||||||
3,162,000 | Ken Garff Automotive, LLC(a) | 4.8750 | 09/15/28 | 3,005,452 | ||||||||||
1,500,000 | Lithia Motors, Inc.(a) | 3.8750 | 06/01/29 | 1,356,283 | ||||||||||
750,000 | Lithia Motors, Inc.(a) | 4.3750 | 01/15/31 | 682,391 | ||||||||||
1,550,000 | Sonic Automotive, Inc.(a) | 4.8750 | 11/15/31 | 1,383,360 | ||||||||||
8,747,714 | ||||||||||||||
SEMICONDUCTORS — 1.2% | ||||||||||||||
2,250,000 | Entegris Escrow Corporation(a) | 4.7500 | 04/15/29 | 2,169,470 | ||||||||||
SOFTWARE — 0.6% | ||||||||||||||
1,250,000 | Crowdstrike Holdings, Inc. | 3.0000 | 02/15/29 | 1,131,574 | ||||||||||
SPECIALTY FINANCE — 12.9% | ||||||||||||||
2,500,000 | Air Lease Corporation(b) | H15T5Y + 4.076% | 4.6500 | 06/15/70 | 2,250,300 | |||||||||
1,500,000 | Bread Financial Holdings, Inc.(a) | 7.0000 | 01/15/26 | 1,492,245 | ||||||||||
250,000 | Bread Financial Holdings, Inc.(a) | 9.7500 | 03/15/29 | 258,386 | ||||||||||
1,000,000 | Burford Capital Global Finance, LLC(a) | 6.2500 | 04/15/28 | 960,978 | ||||||||||
3,000,000 | Burford Capital Global Finance, LLC(a) | 9.2500 | 07/01/31 | 3,192,150 | ||||||||||
1,000,000 | Freedom Mortgage Corporation(a) | 6.6250 | 01/15/27 | 953,932 | ||||||||||
1,000,000 | Freedom Mortgage Corporation(a) | 12.0000 | 10/01/28 | 1,092,917 | ||||||||||
2,955,000 | ILFC E-Capital Trust I(a),(b) | TSFRM3M + 1.812% | 7.1860 | 12/21/65 | 2,199,643 | |||||||||
1,500,000 | ILFC E-Capital Trust II(a),(b) | TSFRM3M + 2.062% | 7.4360 | 12/21/65 | 1,168,307 | |||||||||
1,250,000 | Ladder Capital Finance Holdings LLLP (a) | 4.2500 | 02/01/27 | 1,178,905 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 91.3% (Continued) | ||||||||||||||
SPECIALTY FINANCE — 12.9% (Continued) | ||||||||||||||
500,000 | Nationstar Mortgage Holdings, Inc.(a) | 6.0000 | 01/15/27 | $ | 496,765 | |||||||||
1,250,000 | Nationstar Mortgage Holdings, Inc.(a) | 5.5000 | 08/15/28 | 1,205,869 | ||||||||||
1,750,000 | Nationstar Mortgage Holdings, Inc.(a) | 5.7500 | 11/15/31 | 1,634,369 | ||||||||||
1,500,000 | OneMain Finance Corporation | 9.0000 | 01/15/29 | 1,587,980 | ||||||||||
500,000 | OneMain Finance Corporation | 7.8750 | 03/15/30 | 515,190 | ||||||||||
3,500,000 | Rithm Capital Corporation(a) | 6.2500 | 10/15/25 | 3,449,145 | ||||||||||
23,637,081 | ||||||||||||||
STEEL — 1.8% | ||||||||||||||
1,000,000 | Commercial Metals Company | 4.3750 | 03/15/32 | 899,020 | ||||||||||
2,804,000 | TMS International Corporation(a) | 6.2500 | 04/15/29 | 2,317,099 | ||||||||||
3,216,119 | ||||||||||||||
TECHNOLOGY HARDWARE — 1.3% | ||||||||||||||
550,000 | Ciena Corporation(a) | 4.0000 | 01/31/30 | 501,520 | ||||||||||
1,000,000 | CommScope, Inc.(a) | 8.2500 | 03/01/27 | 528,910 | ||||||||||
750,000 | CommScope, Inc.(a) | 7.1250 | 07/01/28 | 356,989 | ||||||||||
1,000,000 | TTM Technologies, Inc.(a) | 4.0000 | 03/01/29 | 909,590 | ||||||||||
2,297,009 | ||||||||||||||
TECHNOLOGY SERVICES — 1.4% | ||||||||||||||
250,000 | GTCR W-2 Merger Sub, LLC(a) | 7.5000 | 01/15/31 | 264,343 | ||||||||||
1,750,000 | HealthEquity, Inc.(a) | 4.5000 | 10/01/29 | 1,627,889 | ||||||||||
750,000 | VT Topco, Inc.(a) | 8.5000 | 08/15/30 | 781,076 | ||||||||||
2,673,308 | ||||||||||||||
TRANSPORTATION EQUIPMENT — 0.3% | ||||||||||||||
625,000 | Wabash National Corporation(a) | 4.5000 | 10/15/28 | 564,729 | ||||||||||
WHOLESALE - CONSUMER STAPLES — 1.1% | ||||||||||||||
2,500,000 | United Natural Foods, Inc.(a) | 6.7500 | 10/15/28 | 2,027,150 | ||||||||||
TOTAL CORPORATE BONDS (Cost $171,201,659) | 167,412,295 |
TIMOTHY PLAN HIGH YIELD BOND FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 7.1% | ||||||||
MONEY MARKET FUNDS - 7.1% | ||||||||
13,055,815 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $13,055,815)(c) | $ | 13,055,815 | |||||
TOTAL INVESTMENTS - 98.4% (Cost $184,257,474) | $ | 180,468,110 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 1.6% | 2,927,269 | |||||||
NET ASSETS - 100.0% | $ | 183,395,379 | ||||||
LLC | - Limited Liability Company |
LP | - Limited Partnership |
LTD | - Limited Company |
REIT | - Real Estate Investment Trust |
H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
TSFRM3M | CME Term SOFR 3 Month |
(a) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 147,024,096 or 80.2% of net assets. |
(b) | Variable rate security; the rate shown represents the rate on December 31, 2023. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN ISRAEL COMMON VALUES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 98.4% | ||||||||
AEROSPACE & DEFENSE - 5.7% | ||||||||
18,501 | Elbit Systems Ltd. | $ | 3,945,338 | |||||
94,000 | Leonardo DRS, Inc.(a) | 1,883,760 | ||||||
5,829,098 | ||||||||
APPAREL & TEXTILE PRODUCTS - 2.4% | ||||||||
23,816 | Delta Galil Ltd. | 1,064,156 | ||||||
20,000 | Fox Wizel Ltd. | 1,359,008 | ||||||
2,423,164 | ||||||||
BANKING - 16.9% | ||||||||
92,000 | Bank Hapoalim BM - ADR | 3,985,440 | ||||||
505,000 | Bank Leumi Le-Israel BM | 4,067,216 | ||||||
55,300 | First International Bank Of Israel Ltd. | 2,261,327 | ||||||
602,000 | Israel Discount Bank Ltd., Class A | 3,014,664 | ||||||
95,000 | Mizrahi Tefahot Bank Ltd. | 3,679,726 | ||||||
17,008,373 | ||||||||
BIOTECH & PHARMA - 1.3% | ||||||||
67,000 | Enlight Renewable Energy Ltd.(a) | 1,300,368 | ||||||
CHEMICALS - 1.7% | ||||||||
338,902 | ICL Group Ltd. | 1,697,899 | ||||||
CONSTRUCTION MATERIALS - 0.6% | ||||||||
213,000 | Inrom Construction Industries Ltd. | 624,668 | ||||||
ELECTRIC UTILITIES - 2.6% | ||||||||
34,700 | Ormat Technologies, Inc. | 2,629,940 | ||||||
ELECTRICAL EQUIPMENT - 1.7% | ||||||||
24,300 | Camtek Ltd.(a) | 1,685,934 | ||||||
FOOD - 1.3% | ||||||||
68,000 | Strauss Group Ltd.(a) | 1,279,515 | ||||||
HEALTH CARE FACILITIES & SERVICES - 1.6% | ||||||||
12,769 | Danel Adir Yeoshua Ltd. | 1,056,311 |
TIMOTHY PLAN ISRAEL COMMON VALUES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 98.4% (Continued) | ||||||||
HEALTH CARE FACILITIES & SERVICES - 1.6% (Continued) | ||||||||
1,575,013 | Novolog Ltd. | $ | 630,110 | |||||
1,686,421 | ||||||||
HOME & OFFICE PRODUCTS - 1.3% | ||||||||
116,585 | Maytronics Ltd. | 1,323,451 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 2.2% | ||||||||
425,194 | Tel Aviv Stock Exchange Ltd.(a) | 2,265,725 | ||||||
INSURANCE - 4.0% | ||||||||
132,000 | Harel Insurance Investments & Financial Services | 1,036,454 | ||||||
1,048,628 | Migdal Insurance & Financial Holdings Ltd. | 1,193,574 | ||||||
182,400 | Phoenix Holdings Ltd. (The) | 1,849,536 | ||||||
4,079,564 | ||||||||
INTERNET MEDIA & SERVICES - 1.1% | ||||||||
38,000 | Fiverr International Ltd.(a) | 1,034,360 | ||||||
LEISURE FACILITIES & SERVICES - 1.4% | ||||||||
12,800 | Fattal Holdings 1998 Ltd.(a) | 1,413,015 | ||||||
MEDICAL EQUIPMENT & DEVICES - 0.7% | ||||||||
30,900 | Inmode Ltd.(a) | 687,216 | ||||||
OIL & GAS PRODUCERS - 8.0% | ||||||||
350,000 | Delek Drilling, L.P. | 985,779 | ||||||
104,968 | Energean plc | 1,397,022 | ||||||
102,000 | Energean plc | 1,348,938 | ||||||
5,600 | Israel Corp Ltd. (The)(a) | 1,425,254 | ||||||
2,350,000 | Oil Refineries Ltd. | 794,516 | ||||||
8,000 | Paz Ashdod Refinery Ltd.(a) | 178,154 | ||||||
8,000 | Paz Oil Company Ltd. (a) | 670,872 | ||||||
1,600,000 | Ratio Energies Finance, L.P. | 1,320,053 | ||||||
8,120,588 |
TIMOTHY PLAN ISRAEL COMMON VALUES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 98.4% (Continued) | ||||||||
REAL ESTATE INVESTMENT TRUSTS - 1.7% | ||||||||
369,000 | Reit 1 Ltd. | $ | 1,711,056 | |||||
REAL ESTATE OWNERS & DEVELOPERS - 10.8% | ||||||||
62,000 | Alony Hetz Properties & Investments Ltd. | 507,918 | ||||||
237,000 | Amot Investments Ltd. | 1,277,324 | ||||||
42,000 | Azrieli Group Ltd. | 2,721,448 | ||||||
40,000 | Elco Ltd. | 1,262,727 | ||||||
160,000 | Gav-Yam Lands Corp Ltd. | 1,301,904 | ||||||
24,380 | Melisron Ltd. | 1,888,630 | ||||||
643,430 | Mivne Real Estate KD Ltd. | 1,913,699 | ||||||
10,873,650 | ||||||||
RENEWABLE ENERGY - 1.4% | ||||||||
296,360 | Energix-Renewable Energies Ltd. | 1,089,703 | ||||||
3,000 | SolarEdge Technologies, Inc.(a) | 280,800 | ||||||
1,370,503 | ||||||||
RETAIL - CONSUMER STAPLES - 2.0% | ||||||||
18,700 | Rami Levy Chain Stores Hashikma Marketing 2006 | 1,044,063 | ||||||
210,000 | Shufersal Ltd.(a) | 1,002,241 | ||||||
2,046,304 | ||||||||
SEMICONDUCTORS - 6.5% | ||||||||
30,000 | Nova Ltd.(a) | 4,121,700 | ||||||
79,223 | Tower Semiconductor Ltd.(a) | 2,417,886 | ||||||
6,539,586 | ||||||||
SOFTWARE - 17.7% | ||||||||
14,100 | CyberArk Software Ltd.(a) | 3,088,605 | ||||||
29,935 | Hilan Ltd. | 1,576,093 | ||||||
48,800 | Mobileye Global, Inc., Class A(a) | 2,114,016 | ||||||
6,500 | Monday.com Ltd.(a) | 1,220,765 | ||||||
22,600 | Nice Ltd. - ADR(a) | 4,508,926 | ||||||
9,100 | Oddity Tech Ltd.(a) | 423,423 | ||||||
41,000 | One Software Technologies Ltd. | 524,184 | ||||||
55,300 | Sapiens International Corp N.V. | 1,600,382 | ||||||
48,200 | Varonis Systems, Inc.(a) | 2,182,496 |
TIMOTHY PLAN ISRAEL COMMON VALUES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 98.4% (Continued) | ||||||||
SOFTWARE - 17.7% (Continued) | ||||||||
21,500 | Verint Systems, Inc.(a) | $ | 581,145 | |||||
17,820,035 | ||||||||
TECHNOLOGY HARDWARE - 0.3% | ||||||||
28,000 | AudioCodes Ltd. | 337,960 | ||||||
TECHNOLOGY SERVICES - 1.7% | ||||||||
72,783 | Magic Software Enterprises Ltd. | 705,267 | ||||||
56,210 | Matrix IT Ltd. | 1,060,625 | ||||||
1,765,892 | ||||||||
TELECOMMUNICATIONS - 0.5% | ||||||||
46,000 | Cellcom Israel Ltd.(a) | 188,358 | ||||||
74,000 | Partner Communications Company Ltd.(a) | 365,864 | ||||||
554,222 | ||||||||
WHOLESALE - DISCRETIONARY - 1.3% | ||||||||
17,300 | Tadiran Group Ltd. | 1,283,715 | ||||||
TOTAL COMMON STOCKS (Cost $62,448,103) | 99,392,222 | |||||||
SHORT-TERM INVESTMENTS — 1.5% | ||||||||
MONEY MARKET FUNDS - 1.5% | ||||||||
1,520,131 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,520,131)(b) | 1,520,131 | ||||||
TOTAL INVESTMENTS - 99.9% (Cost $63,968,234) | $ | 100,912,353 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1% | 109,904 | |||||||
NET ASSETS - 100.0% | $ | 101,022,257 |
ADR | - American Depositary Receipt |
LP | - Limited Partnership |
LTD | - Limited Company |
NV | - Naamioze Vennootschap |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
(a) | Non-income producing security. |
(b) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN ISRAEL COMMON VALUES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Diversification of Assets | ||||
Country | % of Net Assets | |||
Israel | 88.5 | % | ||
United States | 7.2 | % | ||
United Kingdom | 2.7 | % | ||
Total | 98.4 | % | ||
Money Market Funds | 1.5 | % | ||
Other Assets Less Liabilities - Net | 0.1 | % | ||
Grand Total | 100.0 | % |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% | ||||||||
CHEMICALS - 1.6% | ||||||||
375 | Albemarle Corporation | $ | 54,180 | |||||
2,778 | CF Industries Holdings, Inc. | 220,851 | ||||||
1,853 | FMC Corporation | 116,832 | ||||||
6,014 | ICL Group Ltd. | 30,130 | ||||||
7,069 | K+S A.G. | 111,677 | ||||||
4,962 | Mosaic Company (The) | 177,292 | ||||||
5,109 | Nutrien Ltd. | 287,790 | ||||||
3,601 | OCI N.V. | 104,317 | ||||||
171 | Sociedad Quimica y Minera de Chile S.A. - ADR | 10,298 | ||||||
3,087 | Yara International ASA | 109,752 | ||||||
1,223,119 | ||||||||
DATA CENTER REIT - 1.0% | ||||||||
6,000 | Digital Realty Trust, Inc. | 807,480 | ||||||
FOOD - 1.2% | ||||||||
2,563 | Adecoagro S.A. | 28,449 | ||||||
545 | Cal-Maine Foods, Inc. | 31,278 | ||||||
1,977 | Darling Ingredients, Inc.(a) | 98,534 | ||||||
2,408 | Hormel Foods Corporation | 77,321 | ||||||
1,385 | Ingredion, Inc. | 150,314 | ||||||
4,300 | MEIJI Holdings Company Ltd. | 102,143 | ||||||
2,600 | Morinaga Milk Industry Company Ltd. | 50,309 | ||||||
5,082 | Mowi ASA | 91,040 | ||||||
1,100 | NH Foods Ltd. | 37,295 | ||||||
4,300 | Nisshin Seifun Group, Inc. | 57,904 | ||||||
4,700 | Nissui Corporation | 25,306 | ||||||
1,279 | Pilgrims Pride Corporation(a) | 35,377 | ||||||
841 | Salmar ASA | 47,118 | ||||||
832,388 | ||||||||
FORESTRY, PAPER & WOOD PRODUCTS - 0.3% | ||||||||
2,400 | Canfor Corporation(a) | 32,333 | ||||||
932 | Louisiana-Pacific Corporation | 66,014 | ||||||
2,600 | Sumitomo Forestry Company Ltd. | 77,510 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% (Continued) | ||||||||
FORESTRY, PAPER & WOOD PRODUCTS - 0.3% (Continued) | ||||||||
900 | West Fraser Timber Company Ltd. | $ | 77,001 | |||||
252,858 | ||||||||
GAS & WATER UTILITIES - 0.8% | ||||||||
403 | American States Water Company | 32,409 | ||||||
559 | American Water Works Company, Inc. | 73,782 | ||||||
910 | California Water Service Group | 47,202 | ||||||
8,755 | Cia de Saneamento Basico do Estado de Sao Paulo - ADR | 133,339 | ||||||
598 | Essential Utilities, Inc. | 22,335 | ||||||
1,154 | Severn Trent plc | 37,940 | ||||||
4,078 | United Utilities Group plc | 55,080 | ||||||
5,278 | Veolia Environnement S.A. | 166,417 | ||||||
568,504 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 0.4% | ||||||||
48,754 | Brookdale Senior Living, Inc.(a) | 283,748 | ||||||
HEALTH CARE REIT - 0.4% | ||||||||
18,450 | Healthcare Realty Trust, Inc. | 317,894 | ||||||
INDUSTRIAL REIT - 0.5% | ||||||||
7,000 | Rexford Industrial Realty, Inc. | 392,700 | ||||||
MACHINERY - 1.0% | ||||||||
748 | AGCO Corporation | 90,815 | ||||||
7,354 | CNH Industrial N.V. | 89,572 | ||||||
746 | Deere & Company | 298,303 | ||||||
10,900 | Kubota Corporation | 164,097 | ||||||
1,700 | Kurita Water Industries Ltd. | 66,560 | ||||||
840 | Weir Group plc (The) | 20,201 | ||||||
729,548 | ||||||||
METALS & MINING - 4.7% | ||||||||
413 | Agnico Eagle Mines Ltd. | 22,653 | ||||||
1,834 | Agnico Eagle Mines Ltd. | 100,561 | ||||||
5,121 | Alamos Gold, Inc., Class A | 68,980 | ||||||
1,829 | Alcoa Corporation | 62,186 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% (Continued) | ||||||||
METALS & MINING - 4.7% (Continued) | ||||||||
2,139 | Anglo American PLC | $ | 53,735 | |||||
3,813 | Anglogold Ashanti plc | 71,265 | ||||||
1,391 | Antofagasta plc | 29,782 | ||||||
513 | Aurubis A.G. | 42,057 | ||||||
44,540 | B2Gold Corporation | 140,746 | ||||||
8,971 | Barrick Gold Corporation | 162,285 | ||||||
3,493 | BHP Group Ltd. - ADR | 238,607 | ||||||
2,352 | Cameco Corporation | 101,371 | ||||||
4,500 | Capstone Copper Corporation(a) | 21,906 | ||||||
8,700 | Centerra Gold, Inc. | 51,939 | ||||||
3,247 | Cia de Minas Buenaventura S.A.A - ADR | 49,484 | ||||||
964 | Cleveland-Cliffs, Inc.(a) | 19,685 | ||||||
795 | Compass Minerals International, Inc. | 20,129 | ||||||
600 | Endeavour Mining plc | 13,481 | ||||||
16,100 | First Quantum Minerals Ltd. | 131,841 | ||||||
1,264 | Franco-Nevada Corporation | 140,064 | ||||||
6,685 | Freeport-McMoRan, Inc. | 284,580 | ||||||
9,263 | Gold Fields Ltd. - ADR | 133,943 | ||||||
19,422 | Hecla Mining Company | 93,420 | ||||||
5,000 | Hudbay Minerals, Inc. | 27,510 | ||||||
2,500 | Ivanhoe Mines Ltd. (a) | 24,246 | ||||||
20,463 | Kinross Gold Corp. | 123,801 | ||||||
2,500 | Mitsubishi Materials Corporation | 43,400 | ||||||
2,026 | MP Materials Corporation(a) | 40,216 | ||||||
4,573 | Newmont Corporation | 189,276 | ||||||
642 | Pan American Silver Corporation | 10,484 | ||||||
4,975 | Rio Tinto plc - ADR | 370,438 | ||||||
62 | Royal Gold, Inc. | 7,500 | ||||||
6,049 | Sandstorm Gold Ltd. | 30,426 | ||||||
509 | Southern Copper Corporation | 43,810 | ||||||
5,042 | SSR Mining, Inc. | 54,252 | ||||||
800 | Sumitomo Metal Mining Company Ltd. | 24,093 | ||||||
4,943 | Teck Resources Ltd., Class B | 208,954 | ||||||
17,157 | Vale S.A. - ADR | 272,110 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2%% (Continued) | ||||||||
METALS & MINING - 4.7% (Continued) | ||||||||
306 | Wheaton Precious Metals Corporation | $ | 15,098 | |||||
3,540,314 | ||||||||
OIL & GAS PRODUCERS - 5.5% | ||||||||
5,196 | Aker BP ASA | 151,131 | ||||||
1,807 | APA Corporation | 64,835 | ||||||
6,300 | ARC Resources Ltd. | 93,527 | ||||||
14,900 | Baytex Energy Corporation | 49,255 | ||||||
3,492 | Callon Petroleum Company(a) | 113,141 | ||||||
946 | Canadian Natural Resources Ltd. | 61,982 | ||||||
7,600 | Cenovus Energy, Inc. | 126,650 | ||||||
400 | Chord Energy Corporation | 66,492 | ||||||
735 | Civitas Resources, Inc. | 50,259 | ||||||
549 | CNX Resources Corporation(a) | 10,980 | ||||||
1,127 | ConocoPhillips | 130,811 | ||||||
4,962 | Coterra Energy, Inc. | 126,630 | ||||||
21,700 | Crescent Point Energy Corporation | 150,511 | ||||||
4,251 | Devon Energy Corporation | 192,570 | ||||||
1,248 | Diamondback Energy, Inc. | 193,540 | ||||||
7,447 | Enerplus Corporation | 114,237 | ||||||
1,525 | Eni SpA - ADR | 51,865 | ||||||
1,772 | EOG Resources, Inc. | 214,324 | ||||||
1,232 | EQT Corporation | 47,629 | ||||||
6,311 | Equinor ASA - ADR | 199,681 | ||||||
42 | Hess Corporation | 6,055 | ||||||
200 | Imperial Oil Ltd. | 11,393 | ||||||
8,800 | Inpex Corporation | 118,875 | ||||||
1,313 | Kosmos Energy Ltd. (a) | 8,810 | ||||||
1,380 | Magnolia Oil & Gas Corporation, Class A | 29,380 | ||||||
4,038 | Marathon Oil Corporation | 97,558 | ||||||
1,615 | Matador Resources Company | 91,829 | ||||||
2,900 | MEG Energy Corporation(a) | 51,807 | ||||||
2,759 | Murphy Oil Corporation | 117,699 | ||||||
1,901 | Occidental Petroleum Corporation | 113,509 | ||||||
255 | Ovintiv, Inc. | 11,200 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% (Continued) | ||||||||
OIL & GAS PRODUCERS - 5.5% (Continued) | ||||||||
2,000 | Parex Resources, Inc. | $ | 37,661 | |||||
7,187 | Petroleo Brasileiro S.A. - ADR | 114,776 | ||||||
904 | Pioneer Natural Resources Company | 203,292 | ||||||
2,000 | PrairieSky Royalty Ltd. | 35,020 | ||||||
546 | Range Resources Corporation | 16,620 | ||||||
18,856 | Southwestern Energy Company(a) | 123,507 | ||||||
6,000 | Suncor Energy, Inc. | 192,231 | ||||||
3,796 | TotalEnergies S.E. | 258,152 | ||||||
1,000 | Tourmaline Oil Corporation | 44,975 | ||||||
13,900 | Vermilion Energy, Inc. | 167,538 | ||||||
14,500 | Whitecap Resources, Inc. | 97,070 | ||||||
4,159,007 | ||||||||
OIL & GAS SERVICES & EQUIPMENT - 1.2% | ||||||||
3,881 | Baker Hughes Company | 132,653 | ||||||
2,140 | ChampionX Corporation | 62,509 | ||||||
3,524 | Halliburton Company | 127,393 | ||||||
770 | Helmerich & Payne, Inc. | 27,889 | ||||||
6,476 | Liberty Oilfield Services, Inc., Class A | 117,475 | ||||||
969 | Noble Corp plc | 46,667 | ||||||
1,425 | NOV, Inc. | 28,899 | ||||||
8,724 | Patterson-UTI Energy, Inc. | 94,219 | ||||||
3,908 | Schlumberger Ltd. | 203,373 | ||||||
4,187 | Transocean Ltd.(a) | 26,587 | ||||||
867,664 | ||||||||
REAL ESTATE INVESTMENT TRUSTS - 14.5% | ||||||||
19,700 | American Homes 4 Rent, Class A | 708,412 | ||||||
4,000 | American Tower Corporation, A | 863,520 | ||||||
15,000 | Americold Realty Trust, Inc. | 454,050 | ||||||
4,500 | AvalonBay Communities, Inc. | 842,490 | ||||||
5,500 | Camden Property Trust | 546,095 | ||||||
18,000 | CTO Realty Growth, Inc. | 311,940 | ||||||
1,000 | Equinix, Inc. | 805,390 | ||||||
15,300 | Highwoods Properties, Inc. | 351,288 | ||||||
20,000 | InvenTrust Properties Corporation | 506,800 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% (Continued) | ||||||||
REAL ESTATE INVESTMENT TRUSTS - 14.5% (Continued) | ||||||||
14,500 | Plymouth Industrial REIT, Inc. | $ | 349,015 | |||||
378 | PotlatchDeltic Corporation | 18,560 | ||||||
6,500 | Prologis, Inc. | 866,450 | ||||||
2,750 | Public Storage | 838,750 | ||||||
1,623 | Rayonier, Inc. | 54,224 | ||||||
3,700 | SBA Communications Corporation, A | 938,653 | ||||||
5,400 | Sun Communities, Inc. | 721,710 | ||||||
17,500 | Ventas, Inc. | 872,200 | ||||||
7,300 | Welltower, Inc. | 658,241 | ||||||
2,682 | Weyerhaeuser Company | 93,253 | ||||||
10,801,041 | ||||||||
RENEWABLE ENERGY - 0.1% | ||||||||
155 | Array Technologies, Inc.(a) | 2,604 | ||||||
266 | Enphase Energy, Inc.(a) | 35,149 | ||||||
223 | First Solar, Inc.(a) | 38,419 | ||||||
2,163 | Shoals Technologies Group, Inc., Class A(a) | 33,613 | ||||||
109,785 | ||||||||
RESIDENTIAL REIT - 1.1% | ||||||||
6,750 | Equity Residential | 412,830 | ||||||
11,000 | Invitation Homes, Inc. | 375,210 | ||||||
788,040 | ||||||||
RETAIL REIT - 0.8% | ||||||||
6,000 | Brixmor Property Group, Inc. | 139,620 | ||||||
10,300 | NNN REIT, Inc. | 443,930 | ||||||
583,550 | ||||||||
SELF-STORAGE REIT - 0.9% | ||||||||
4,100 | Extra Space Storage, Inc. | 657,353 | ||||||
SEMICONDUCTORS - 0.1% | ||||||||
6,500 | SUMCO Corporation | 97,487 | ||||||
STEEL - 0.9% | ||||||||
873 | ArcelorMittal S.A. - ADR | 24,784 | ||||||
1,303 | ATI, Inc. (a) | 59,247 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 37.2% (Continued) | ||||||||
STEEL - 0.9% (Continued) | ||||||||
22,576 | Gerdau S.A. - ADR | $ | 109,493 | |||||
2,200 | JFE Holdings, Inc. | 34,135 | ||||||
4,200 | Nippon Steel Corporation | 96,222 | ||||||
539 | Nucor Corporation | 93,808 | ||||||
1,400 | OSAKA Titanium Technologies Company Ltd. | 26,931 | ||||||
60 | Reliance Steel & Aluminum Company | 16,781 | ||||||
740 | Steel Dynamics, Inc. | 87,394 | ||||||
1,095 | Ternium S.A. - ADR | 46,505 | ||||||
1,847 | United States Steel Corporation | 89,857 | ||||||
685,157 | ||||||||
WHOLESALE - CONSUMER STAPLES - 0.2% | ||||||||
1,772 | Bunge Global S.A. | 178,883 | ||||||
TOTAL COMMON STOCKS (Cost $26,503,962) | 27,876,520 | |||||||
EXCHANGE-TRADED FUNDS — 19.3% | ||||||||
EQUITY - 19.3% | ||||||||
588,600 | Timothy Plan Market Neutral ETF (b) (Cost $14,652,774) | 14,374,730 | ||||||
PRECIOUS METALS - PHYSICAL HOLDING — 16.9% | ||||||||
PRECIOUS METAL - 16.9% | ||||||||
6,143 | GOLD BARS - XAU BGN CURNCY (a) (Cost $7,240,876) | 12,673,732 |
TIMOTHY PLAN DEFENSIVE STRATEGIES FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 23.7% | ||||||||||||
U.S. TREASURY INFLATION PROTECTED — 23.7% | ||||||||||||
1,654,856 | United States Treasury Inflation Indexed Bonds | 0.6250 | 01/15/24 | 1,650,466 | ||||||||
1,730,164 | United States Treasury Inflation Indexed Bonds | 2.3750 | 01/15/25 | 1,716,979 | ||||||||
2,255,483 | United States Treasury Inflation Indexed Bonds | 2.0000 | 01/15/26 | 2,239,032 | ||||||||
2,212,207 | United States Treasury Inflation Indexed Bonds | 2.3750 | 01/15/27 | 2,233,965 | ||||||||
2,026,895 | United States Treasury Inflation Indexed Bonds | 0.5000 | 01/15/28 | 1,920,716 | ||||||||
961,946 | United States Treasury Inflation Indexed Bonds | 1.7500 | 01/15/28 | 957,357 | ||||||||
1,498,743 | United States Treasury Inflation Indexed Bonds | 0.8750 | 01/15/29 | 1,437,052 | ||||||||
1,519,012 | United States Treasury Inflation Indexed Bonds | 2.5000 | 01/15/29 | 1,573,173 | ||||||||
2,903,598 | United States Treasury Inflation Indexed Bonds | 0.1250 | 01/15/31 | 2,599,506 | ||||||||
330,163 | United States Treasury Inflation Indexed Bonds | 2.1250 | 02/15/41 | 341,306 | ||||||||
1,589,454 | United States Treasury Inflation Indexed Bonds | 0.1250 | 02/15/51 | 995,495 | ||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $19,383,030) | 17,665,047 | |||||||||||
Shares | ||||||||||||
SHORT-TERM INVESTMENTS — 2.5% | ||||||||||||
MONEY MARKET FUNDS - 2.5% | ||||||||||||
1,890,336 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,890,336)(c) | 1,890,336 | ||||||||||
TOTAL INVESTMENTS - 99.6% (Cost $69,670,978) | $ | 74,480,365 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.4% | 293,286 | |||||||||||
NET ASSETS - 100.0% | $ | 74,773,651 |
ADR | - American Depositary Receipt |
ETF | - Exchange-Traded Fund |
LTD | - Limited Company |
NV | - Naamioze Vennootschap |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S.A. | - Société Anonyme |
(a) | Non-income producing security. |
(b) | Investment in affiliate. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN STRATEGIC GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 65.9% | ||||||||
EQUITY - 65.9% | ||||||||
121,006 | Timothy Plan High Dividend Stock Enhanced ETF(a) | $ | 2,736,732 | |||||
207,956 | Timothy Plan International ETF(a) | 5,499,646 | ||||||
209,700 | Timothy Plan Market Neutral ETF(a) | 5,121,272 | ||||||
225,039 | Timothy Plan US Large/Mid Cap Core Enhanced ETF(a) | 5,128,616 | ||||||
114,923 | Timothy Plan US Small Cap Core ETF(a) | 4,065,976 | ||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $22,249,616) | 22,552,242 | |||||||
OPEN END FUNDS — 31.6% | ||||||||
EQUITY - 13.3% | ||||||||
382,363 | Timothy Plan International Fund, Class A(a) | 4,565,419 | ||||||
FIXED INCOME - 18.3% | ||||||||
453,808 | Timothy Plan Fixed Income Fund, Class A(a) | 4,184,113 | ||||||
236,656 | Timothy Plan High Yield Bond Fund, Class A(a) | 2,073,107 | ||||||
6,257,220 | ||||||||
TOTAL OPEN END FUNDS (Cost $11,199,532) | 10,822,639 | |||||||
SHORT-TERM INVESTMENTS — 2.6% | ||||||||
MONEY MARKET FUNDS - 2.6% | ||||||||
872,780 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $872,780)(b) | 872,780 | ||||||
TOTAL INVESTMENTS - 100.1% (Cost $34,321,928) | $ | 34,247,661 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)% | (40,552 | ) | ||||||
NET ASSETS - 100.0% | $ | 34,207,109 | ||||||
ETF | - Exchange-Traded Fund |
(a) | Investment in affiliate. |
(b) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN CONSERVATIVE GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 48.8% | ||||||||
EQUITY - 48.8% | ||||||||
102,160 | Timothy Plan High Dividend Stock Enhanced ETF(a) | $ | 2,310,502 | |||||
131,744 | Timothy Plan International ETF(a) | 3,484,128 | ||||||
236,100 | Timothy Plan Market Neutral ETF(a) | 5,766,010 | ||||||
202,686 | Timothy Plan US Large/Mid Cap Core Enhanced ETF(a) | 4,619,194 | ||||||
75,405 | Timothy Plan US Small Cap Core ETF(a) | 2,667,829 | ||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $18,839,641) | 18,847,663 | |||||||
OPEN END FUNDS — 48.2% | ||||||||
EQUITY - 11.6% | ||||||||
374,052 | Timothy Plan International Fund, Class A(a) | 4,466,181 | ||||||
FIXED INCOME - 36.6% | ||||||||
1,260,743 | Timothy Plan Fixed Income Fund, Class A(a) | 11,624,052 | ||||||
286,914 | Timothy Plan High Yield Bond Fund, Class A(a) | 2,513,369 | ||||||
14,137,421 | ||||||||
TOTAL OPEN END FUNDS (Cost $20,099,481) | 18,603,602 | |||||||
SHORT-TERM INVESTMENTS — 3.1% | ||||||||
MONEY MARKET FUNDS - 3.1% | ||||||||
1,202,887 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,202,887)(b) | 1,202,887 | ||||||
TOTAL INVESTMENTS - 100.1% (Cost $40,142,009) | $ | 38,654,152 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)% | (37,293 | ) | ||||||
NET ASSETS - 100.0% | $ | 38,616,859 | ||||||
ETF | - Exchange-Traded Fund |
(a) | Investment in affiliate. |
(b) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
TIMOTHY PLAN GROWTH & INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
December 31, 2023 |
Shares | Fair Value | |||||||||||
EXCHANGE-TRADED FUNDS — 41.3% | ||||||||||||
EQUITY - 41.3% | ||||||||||||
295,000 | Timothy Plan High Dividend Stock Enhanced ETF(a) | $ | 6,671,867 | |||||||||
27,500 | Timothy Plan High Dividend Stock ETF(a) | 910,693 | ||||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $8,197,973) | 7,582,560 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 17.9% | ||||||||||||
CHEMICALS — 1.4% | ||||||||||||
85,000 | Nutrien Ltd. | 4.0000 | 12/15/26 | 83,079 | ||||||||
195,000 | Nutrien Ltd. | 2.9500 | 05/13/30 | 176,314 | ||||||||
259,393 | ||||||||||||
COMMERCIAL SUPPORT SERVICES — 0.7% | ||||||||||||
70,000 | Republic Services, Inc. | 5.0000 | 04/01/34 | 71,805 | ||||||||
50,000 | Waste Management, Inc. | 4.6250 | 02/15/33 | 50,252 | ||||||||
122,057 | ||||||||||||
ELECTRIC UTILITIES — 2.1% | ||||||||||||
245,000 | American Electric Power Company, Inc. | 3.2000 | 11/13/27 | 233,354 | ||||||||
45,000 | National Rural Utilities Cooperative Finance | 2.9500 | 02/07/24 | 44,865 | ||||||||
95,000 | National Rural Utilities Cooperative Finance | 5.0500 | 09/15/28 | 97,448 | ||||||||
22,000 | WEC Energy Group, Inc. | 3.5500 | 06/15/25 | 21,406 | ||||||||
397,073 | ||||||||||||
GAS & WATER UTILITIES — 1.3% | ||||||||||||
240,000 | NiSource, Inc. | 3.4900 | 05/15/27 | 231,252 | ||||||||
INSTITUTIONAL FINANCIAL SERVICES — 0.3% | ||||||||||||
55,000 | Cboe Global Markets, Inc. | 3.6500 | 01/12/27 | 53,378 | ||||||||
MACHINERY — 1.4% | ||||||||||||
100,000 | Caterpillar Financial Services Corporation | 4.3500 | 05/15/26 | 99,820 | ||||||||
170,000 | John Deere Capital Corporation | 3.9000 | 06/07/32 | 164,169 | ||||||||
263,989 |
TIMOTHY PLAN GROWTH & INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 17.9% (Continued) | ||||||||||||
METALS & MINING — 1.5% | ||||||||||||
140,000 | BHP Billiton Finance USA Ltd. | 5.2500 | 09/08/33 | $ | 145,511 | |||||||
120,000 | Rio Tinto Finance USA plc | 5.0000 | 03/09/33 | 125,033 | ||||||||
270,544 | ||||||||||||
OIL & GAS PRODUCERS — 4.1% | ||||||||||||
185,000 | Columbia Pipelines Holding Company, LLC(b) | 6.0420 | 08/15/28 | 191,118 | ||||||||
220,000 | Energy Transfer Operating, L.P. | 6.2500 | 04/15/49 | 228,047 | ||||||||
125,000 | Energy Transfer, L.P. | 5.7500 | 02/15/33 | 128,957 | ||||||||
70,000 | Enterprise Products Operating, LLC | 5.3500 | 01/31/33 | 73,400 | ||||||||
115,000 | Phillips 66 Company | 3.6050 | 02/15/25 | 112,993 | ||||||||
734,515 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.5% | ||||||||||||
170,000 | Digital Realty Trust, L.P. | 3.7000 | 08/15/27 | 163,977 | ||||||||
120,000 | Healthpeak Properties, Inc. | 3.5000 | 07/15/29 | 112,041 | ||||||||
276,018 | ||||||||||||
RETAIL - CONSUMER STAPLES — 0.9% | ||||||||||||
175,000 | Dollar General Corporation | 4.1250 | 05/01/28 | 171,511 | ||||||||
RETAIL - DISCRETIONARY — 1.1% | ||||||||||||
205,000 | Tractor Supply Company | 5.2500 | 05/15/33 | 210,181 | ||||||||
TRANSPORTATION & LOGISTICS — 1.6% | ||||||||||||
55,000 | Canadian Pacific Railway Company | 2.9000 | 02/01/25 | 53,672 | ||||||||
240,000 | CSX Corporation | 3.2500 | 06/01/27 | 231,302 | ||||||||
284,974 | ||||||||||||
TOTAL CORPORATE BONDS (Cost $3,256,796) | 3,274,885 | |||||||||||
NON U.S. GOVERNMENT & AGENCIES — 1.3% | ||||||||||||
LOCAL AUTHORITY — 1.3% | ||||||||||||
250,000 | Province of Ontario Canada (Cost $245,850) | 2.5000 | 04/27/26 | 239,851 |
TIMOTHY PLAN GROWTH & INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 38.1% | ||||||||||||
AGENCY FIXED RATE — 20.4% | ||||||||||||
107,471 | Fannie Mae Pool FM5537 | 2.0000 | 01/01/36 | $ | 97,111 | |||||||
70,600 | Fannie Mae Pool MA4316 | 2.5000 | 04/01/36 | 65,056 | ||||||||
20,380 | Fannie Mae Pool MA4475 | 2.5000 | 10/01/41 | 18,079 | ||||||||
60,938 | Fannie Mae Pool MA4617 | 3.0000 | 04/01/42 | 55,720 | ||||||||
46,367 | Fannie Mae Pool FM4053 | 2.5000 | 08/01/50 | 40,039 | ||||||||
51,022 | Fannie Mae Pool CA8897 | 3.0000 | 02/01/51 | 45,705 | ||||||||
7,606 | Fannie Mae Pool MA4258 | 3.5000 | 02/01/51 | 7,086 | ||||||||
20,143 | Fannie Mae Pool FM6550 | 2.0000 | 03/01/51 | 16,758 | ||||||||
46,012 | Fannie Mae Pool FS1564 | 2.0000 | 04/01/51 | 37,724 | ||||||||
38,968 | Fannie Mae Pool CB0855 | 3.0000 | 06/01/51 | 34,584 | ||||||||
61,668 | Fannie Mae Pool FS3744 | 2.0000 | 07/01/51 | 50,681 | ||||||||
103,864 | Fannie Mae Pool FS1807 | 3.5000 | 07/01/51 | 96,793 | ||||||||
47,640 | Fannie Mae Pool FS4624 | 2.5000 | 11/01/51 | 40,796 | ||||||||
162,333 | Fannie Mae Pool FS6141 | 2.0000 | 01/01/52 | 133,835 | ||||||||
52,806 | Fannie Mae Pool CB2857 | 2.5000 | 02/01/52 | 45,401 | ||||||||
100,368 | Fannie Mae Pool CB3486 | 3.5000 | 05/01/52 | 92,207 | ||||||||
70,233 | Fannie Mae Pool FS1704 | 4.0000 | 05/01/52 | 67,171 | ||||||||
121,113 | Fannie Mae Pool BV9960 | 4.0000 | 06/01/52 | 115,181 | ||||||||
104,804 | Fannie Mae Pool FS3071 | 3.0000 | 07/01/52 | 93,766 | ||||||||
164,010 | Fannie Mae Pool FS3392 | 4.0000 | 09/01/52 | 155,334 | ||||||||
93,313 | Fannie Mae Pool FS3159 | 4.5000 | 10/01/52 | 90,907 | ||||||||
92,331 | Fannie Mae Pool FS4075 | 5.0000 | 04/01/53 | 91,995 | ||||||||
101,094 | Fannie Mae Pool FS5044 | 4.5000 | 06/01/53 | 98,698 | ||||||||
43,256 | Fannie Mae Pool FS4621 | 5.0000 | 06/01/53 | 43,261 | ||||||||
101,907 | Fannie Mae Pool FS5850 | 6.0000 | 09/01/53 | 103,640 | ||||||||
49,007 | Ginnie Mae I Pool 723248 | 5.0000 | 10/15/39 | 49,490 | ||||||||
48,947 | Ginnie Mae I Pool 783403 | 3.5000 | 09/15/41 | 46,172 | ||||||||
42,435 | Ginnie Mae II Pool MA3376 | 3.5000 | 01/20/46 | 40,110 | ||||||||
31,715 | Ginnie Mae II Pool MA3596 | 3.0000 | 04/20/46 | 29,202 | ||||||||
27,169 | Ginnie Mae II Pool MA3663 | 3.5000 | 05/20/46 | 25,635 | ||||||||
35,283 | Ginnie Mae II Pool MA3736 | 3.5000 | 06/20/46 | 33,286 | ||||||||
11,973 | Ginnie Mae II Pool MA4509 | 3.0000 | 06/20/47 | 10,998 | ||||||||
33,634 | Ginnie Mae II Pool MA4652 | 3.5000 | 08/20/47 | 31,699 | ||||||||
31,691 | Ginnie Mae II Pool MA4719 | 3.5000 | 09/20/47 | 29,866 |
TIMOTHY PLAN GROWTH & INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 38.1% (Continued) | ||||||||||||
AGENCY FIXED RATE — 20.4% (Continued) | ||||||||||||
60,580 | Ginnie Mae II Pool MA4778 | 3.5000 | 10/20/47 | $ | 57,086 | |||||||
23,100 | Ginnie Mae II Pool MA6092 | 4.5000 | 08/20/49 | 22,717 | ||||||||
17,745 | Ginnie Mae II Pool MA6156 | 4.5000 | 09/20/49 | 17,467 | ||||||||
43,509 | Ginnie Mae II Pool BN2662 | 3.0000 | 10/20/49 | 39,466 | ||||||||
19,156 | Ginnie Mae II Pool MA6221 | 4.5000 | 10/20/49 | 18,938 | ||||||||
16,881 | Ginnie Mae II Pool MA6478 | 5.0000 | 02/20/50 | 17,035 | ||||||||
21,085 | Ginnie Mae II Pool MA6544 | 4.5000 | 03/20/50 | 20,837 | ||||||||
13,292 | Ginnie Mae II Pool MA6545 | 5.0000 | 03/20/50 | 13,417 | ||||||||
95,267 | Ginnie Mae II Pool MA6598 | 2.5000 | 04/20/50 | 83,716 | ||||||||
21,006 | Ginnie Mae II Pool MA6600 | 3.5000 | 04/20/50 | 19,754 | ||||||||
19,079 | Ginnie Mae II Pool MA6601 | 4.0000 | 04/20/50 | 18,405 | ||||||||
24,824 | Ginnie Mae II Pool MA6603 | 5.0000 | 04/20/50 | 25,052 | ||||||||
46,392 | Ginnie Mae II Pool MA7255 | 2.5000 | 03/20/51 | 40,613 | ||||||||
37,681 | Ginnie Mae II Pool MA7418 | 2.5000 | 06/20/51 | 32,992 | ||||||||
57,075 | Ginnie Mae II Pool MA7419 | 3.0000 | 06/20/51 | 51,853 | ||||||||
50,877 | Ginnie Mae II Pool MA7472 | 2.5000 | 07/20/51 | 44,568 | ||||||||
63,434 | Ginnie Mae II Pool CE1974 | 3.0000 | 08/20/51 | 58,160 | ||||||||
73,762 | Ginnie Mae II Pool CE1990 | 2.5000 | 09/20/51 | 64,500 | ||||||||
129,878 | Ginnie Mae II Pool MA7705 | 2.5000 | 11/20/51 | 113,685 | ||||||||
133,783 | Ginnie Mae II Pool MA7768 | 3.0000 | 12/20/51 | 121,221 | ||||||||
56,349 | Ginnie Mae II Pool MA7829 | 3.5000 | 01/20/52 | 52,482 | ||||||||
74,376 | Ginnie Mae II Pool MA7939 | 4.0000 | 03/20/52 | 71,015 | ||||||||
137,340 | Ginnie Mae II Pool MA7987 | 2.5000 | 04/20/52 | 120,183 | ||||||||
131,434 | Ginnie Mae II Pool MA8098 | 3.0000 | 06/20/52 | 119,079 | ||||||||
107,990 | Ginnie Mae II Pool MA8268 | 4.5000 | 09/20/52 | 105,469 | ||||||||
92,788 | Ginnie Mae II Pool MA8800 | 5.0000 | 04/20/53 | 92,278 | ||||||||
172,809 | Ginnie Mae II Pool MA8943 | 3.0000 | 06/20/53 | 156,928 | ||||||||
103,770 | Ginnie Mae II Pool MA9017 | 5.5000 | 07/20/53 | 104,479 | ||||||||
TOTAL AGENCY FIXED RATE (Cost $3,905,309) | 3,737,381 | |||||||||||
U.S. TREASURY NOTES — 17.7% | ||||||||||||
280,000 | United States Treasury Note | 2.2500 | 11/15/24 | 273,733 | ||||||||
70,000 | United States Treasury Note | 2.0000 | 08/15/25 | 67,372 | ||||||||
565,000 | United States Treasury Note | 0.6250 | 07/31/26 | 517,703 |
TIMOTHY PLAN GROWTH & INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 38.1% (Continued) | ||||||||||||
U.S. TREASURY NOTES — 17.7% (Continued) | ||||||||||||
475,000 | United States Treasury Note | 1.2500 | 09/30/28 | $ | 421,414 | |||||||
515,000 | United States Treasury Note | 1.2500 | 08/15/31 | 426,907 | ||||||||
435,000 | United States Treasury Note | 3.5000 | 02/15/33 | 422,664 | ||||||||
430,000 | United States Treasury Note | 1.7500 | 08/15/41 | 300,278 | ||||||||
250,000 | United States Treasury Note | 2.0000 | 08/15/51 | 164,121 | ||||||||
700,000 | United States Treasury Note | 3.6250 | 02/15/53 | 649,523 | ||||||||
TOTAL U.S. TREASURY NOTES (Cost $3,288,363) | 3,243,715 | |||||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $7,193,672) | 6,981,096 | |||||||||||
Shares | ||||||||||||
SHORT-TERM INVESTMENTS — 1.2% | ||||||||||||
MONEY MARKET FUNDS - 1.2% | ||||||||||||
223,033 | Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $223,033)(c) | 223,033 | ||||||||||
TOTAL INVESTMENTS - 99.8% (Cost $19,117,324) | $ | 18,301,425 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2% | 39,444 | |||||||||||
NET ASSETS - 100.0% | $ | 18,340,869 | ||||||||||
ETF | - Exchange-Traded Fund |
LLC | - Limited Liability Company |
LP | - Limited Partnership |
LTD | - Limited Company |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
(a) | Investment in affiliate. |
(b) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 191,118 or 1.0% of net assets. |
(c) | Rate disclosed is the seven day effective yield as of December 31, 2023. |