Portfolio of Investments
Touchstone Balanced Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 63.5%  
  Information Technology — 18.0%  
      6,138 Accenture PLC - Class A $  1,579,307
    220,570 Apple, Inc.  30,482,774
     54,320 International Business Machines Corp.   6,453,759
    154,402 Microsoft Corp.  35,960,226
    133,039 Oracle Corp.   8,124,692
     60,853 PayPal Holdings, Inc.*   5,237,618
     62,590 salesforce, Inc.*   9,002,946
    101,750 SS&C Technologies Holdings, Inc.   4,858,562
     60,000 Texas Instruments, Inc.   9,286,800
     57,538 Visa, Inc. - Class A  10,221,626
     33,884 Workday, Inc. - Class A*   5,157,822
        126,366,132
  Health Care — 11.3%  
      5,751 Alcon, Inc. (Switzerland)     334,593
     66,655 AmerisourceBergen Corp.   9,020,421
     10,765 Becton Dickinson & Co.   2,398,765
    103,668 BioMarin Pharmaceutical, Inc.*   8,787,936
    157,376 Bristol-Myers Squibb Co.  11,187,860
     10,000 CVS Health Corp.     953,700
      2,153 Embecta Corp.      61,985
     49,687 HCA Healthcare, Inc.   9,131,974
     94,799 Johnson & Johnson  15,486,365
     31,591 Merck & Co., Inc.   2,720,617
     10,047 Stryker Corp.   2,034,919
     34,685 UnitedHealth Group, Inc.  17,517,312
         79,636,447
  Communication Services — 7.9%  
    256,700 Alphabet, Inc. - Class C*  24,681,705
    184,897 AT&T, Inc.   2,836,320
    211,054 Comcast Corp. - Class A   6,190,214
     43,677 Fox Corp. - Class A   1,340,010
     88,558 Meta Platforms, Inc. - Class A*  12,015,549
     19,479 Netflix, Inc.*   4,586,136
     31,985 Walt Disney Co. (The)*   3,017,145
     44,729 Warner Bros Discovery, Inc.*     514,384
         55,181,463
  Financials — 7.0%  
    226,643 Bank of America Corp.   6,844,619
     77,164 Berkshire Hathaway, Inc. - Class B*  20,604,331
      1,410 CME Group, Inc.     249,754
     47,404 Goldman Sachs Group, Inc. (The)  13,891,742
      6,787 Markel Corp.*   7,358,601
         48,949,047
  Consumer Discretionary — 5.9%  
     42,282 Airbnb, Inc. - Class A*   4,441,301
     35,598 Alibaba Group Holding Ltd. (China) ADR*   2,847,484
    188,220 Amazon.com, Inc.*  21,268,860
     61,986 Hilton Worldwide Holdings, Inc.   7,476,752
     65,658 Starbucks Corp.   5,532,343
         41,566,740
  Industrials — 5.9%  
     37,661 Boeing Co. (The)*   4,559,994
     12,358 Deere & Co.   4,126,212
     17,319 FedEx Corp.   2,571,352
      4,260 Honeywell International, Inc.     711,292
     57,917 Hubbell, Inc.  12,915,491
    137,571 Raytheon Technologies Corp.  11,261,562
    164,527 Southwest Airlines Co.*   5,074,013
         41,219,916
Shares       Market
Value
     
  Consumer Staples — 3.0%  
    110,390 Monster Beverage Corp.* $  9,599,514
      8,485 PepsiCo, Inc.   1,385,261
    106,067 Philip Morris International, Inc.   8,804,622
     12,856 Procter & Gamble Co. (The)   1,623,070
         21,412,467
  Energy — 2.5%  
     20,000 Chevron Corp.   2,873,400
    111,879 Exxon Mobil Corp.   9,768,155
    146,582 Schlumberger NV   5,262,294
         17,903,849
  Real Estate — 1.2%  
     54,038 Jones Lang LaSalle, Inc.*   8,163,521
  Materials — 0.8%  
    108,662 DuPont de Nemours, Inc.   5,476,565
  Total Common Stocks $445,876,147
Principal
Amount 		       
  Corporate Bonds — 12.6%  
  Financials — 4.1%  
$  1,217,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 2.450%, 10/29/26   1,027,076
     496,000 Allstate Corp. (The), 1.450%, 12/15/30     374,455
     254,000 Allstate Corp. (The), Ser B, 5.750%, 8/15/53     233,853
   1,981,421 American Financial Group, Inc., 5.250%, 4/2/30   1,899,262
     820,000 Ares Capital Corp., 3.250%, 7/15/25     749,117
     479,000 Bank of America Corp., 2.687%, 4/22/32     373,109
     753,000 Bank of America Corp., 3.705%, 4/24/28     685,489
   1,135,000 Bank of America Corp., MTN, 4.000%, 1/22/25   1,098,700
     828,000 Bank of Montreal (Canada), 3.803%, 12/15/32     718,339
   1,199,000 Bank of Nova Scotia (The) (Canada), 3.625%, 10/27/81     869,275
   1,092,000 Barclays PLC (United Kingdom), 2.894%, 11/24/32     789,111
     520,000 Berkshire Hathaway Finance Corp., 4.250%, 1/15/49     432,210
     405,000 BNP Paribas SA (France), 144a, 4.625%, 3/13/27     374,388
     695,000 Charles Schwab Corp. (The), 5.000%(A)     624,631
     813,000 Citigroup, Inc., 0.981%, 5/1/25     753,453
     699,000 Citigroup, Inc., 3.200%, 10/21/26     640,590
     418,000 Citigroup, Inc., 4.750%, 5/18/46     333,158
     790,000 Citizens Bank NA, 4.575%, 8/9/28     752,177
     856,000 Cooperatieve Rabobank UA (Netherlands), 144a, 1.106%, 2/24/27     733,036
   1,187,000 Corestates Capital III, 144a, (3M LIBOR +0.570%), 3.475%, 2/15/27(B)   1,118,748
     807,000 Credit Suisse AG (Switzerland), 3.700%, 2/21/25     757,576
     796,000 Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32     617,780
   1,509,000 Goldman Sachs Group, Inc. (The), 3.615%, 3/15/28   1,373,866
     674,000 Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28     610,546
     710,000 HSBC Holdings PLC (United Kingdom), 3.900%, 5/25/26     665,665
   1,175,000 Huntington Bancshares, Inc., 2.550%, 2/4/30     948,274
     876,000 JPMorgan Chase & Co., 2.956%, 5/13/31     693,532
     902,000 JPMorgan Chase & Co., 3.509%, 1/23/29     798,266
     792,000 JPMorgan Chase & Co., 5.717%, 9/14/33     748,435
     882,000 Lloyds Banking Group PLC (United Kingdom), 3.574%, 11/7/28     773,890
   1,147,000 Mastercard, Inc., 2.000%, 11/18/31     907,139
     998,000 Morgan Stanley, 3.950%, 4/23/27     927,836
     663,000 Morgan Stanley, 5.297%, 4/20/37     594,586
  1,087,708 Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47      819,604
 
1
Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount 		      MarketValue
  Corporate Bonds — 12.6% (Continued)  
  Financials — (Continued)  
$    959,000 PNC Capital Trust, (3M LIBOR +0.570%), 3.652%, 6/1/28(B) $    891,919
   1,044,000 Prudential Financial, Inc., 5.125%, 3/1/52     905,085
  1,368,000 Truist Bank, Ser A, (3M LIBOR +0.670%), 3.580%, 5/15/27(B)   1,268,821
         28,882,997
  Consumer Discretionary — 1.6%  
      80,490 Air Canada 2015-1 Class A Pass Through Trust (Canada), 144a, 3.600%, 3/15/27      71,664
   1,316,000 BAT Capital Corp. (United Kingdom), 3.557%, 8/15/27   1,155,390
     629,000 Brunswick Corp., 4.400%, 9/15/32     508,464
     184,000 Expedia Group, Inc., 2.950%, 3/15/31     142,682
     616,000 Ford Motor Co., 3.250%, 2/12/32     442,288
     466,000 Ford Motor Credit Co. LLC, 3.664%, 9/8/24     437,453
   1,461,000 General Motors Financial Co., Inc., 3.100%, 1/12/32   1,101,422
     550,000 General Motors Financial Co., Inc., 5.650%, 1/17/29     519,942
     605,000 Home Depot, Inc. (The), 5.950%, 4/1/41     630,104
     889,000 Hyundai Capital America, 144a, 2.650%, 2/10/25     828,525
     573,000 Imperial Brands Finance PLC (United Kingdom), 144a, 6.125%, 7/27/27     564,865
   1,240,000 JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 144a, 2.500%, 1/15/27   1,062,779
     398,000 JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 144a, 4.375%, 2/2/52     266,764
     881,000 Lowe's Cos., Inc., 4.500%, 4/15/30     822,520
   1,495,000 Procter & Gamble Co. (The), 1.200%, 10/29/30   1,153,306
   1,021,000 Toll Brothers Finance Corp., 3.800%, 11/1/29     826,186
     644,000 Warnermedia Holdings, Inc., 144a, 4.279%, 3/15/32     529,706
    644,000 Warnermedia Holdings, Inc., 144a, 5.141%, 3/15/52     467,254
         11,531,314
  Industrials — 1.2%  
     792,000 Amcor Flexibles North America, Inc., 2.630%, 6/19/30     635,933
     469,000 Boeing Co. (The), 5.805%, 5/1/50     408,511
     887,000 Burlington Northern Santa Fe LLC, 5.750%, 5/1/40     896,635
     603,000 Carrier Global Corp., 3.577%, 4/5/50     417,624
   1,105,000 CNH Industrial Capital LLC, 1.450%, 7/15/26     956,322
     595,000 FedEx Corp., 5.100%, 1/15/44     502,858
     859,000 John Deere Capital Corp., MTN, 2.450%, 1/9/30     724,777
     753,000 Mohawk Industries, Inc., 3.625%, 5/15/30     626,304
     743,000 Norfolk Southern Corp., 4.837%, 10/1/41     661,389
     867,000 Parker-Hannifin Corp., 4.250%, 9/15/27     826,171
     547,000 Roper Technologies, Inc., 2.950%, 9/15/29     460,323
  1,277,000 Weir Group PLC (The) (United Kingdom), 144a, 2.200%, 5/13/26   1,073,273
          8,190,120
  Utilities — 0.9%  
     953,000 CMS Energy Corp., 4.750%, 6/1/50     805,285
     502,000 Duke Energy Progress LLC, 4.150%, 12/1/44     404,892
     504,000 Edison International, 4.125%, 3/15/28     449,873
     823,000 Electricite de France SA (France), 144a, 4.875%, 9/21/38     676,061
     841,000 FirstEnergy Transmission LLC, 144a, 5.450%, 7/15/44     760,673
   1,040,000 Ohio Power Co., Ser R, 2.900%, 10/1/51     649,949
     909,000 Pacific Gas and Electric Co., 3.500%, 8/1/50     553,262
     739,000 PacifiCorp., 5.750%, 4/1/37     702,209
  1,598,000 WEC Energy Group, Inc., (3M LIBOR +2.112%), 5.018%, 5/15/67(B)   1,326,340
          6,328,544
  Energy — 0.8%  
     667,000 Boardwalk Pipelines LP, 4.800%, 5/3/29      612,322
Principal
Amount 		      MarketValue
     
  Energy — (Continued)  
$    574,000 Canadian Natural Resources Ltd. (Canada), 6.250%, 3/15/38 $    553,674
     595,000 Cenovus Energy, Inc. (Canada), 5.250%, 6/15/37     520,979
     620,000 Continental Resources, Inc., 144a, 5.750%, 1/15/31     560,392
     706,000 Energy Transfer LP, 4.150%, 9/15/29     616,129
     621,000 MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31     467,303
     757,000 Midwest Connector Capital Co. LLC, 144a, 3.900%, 4/1/24     731,464
     763,000 MPLX LP, 4.950%, 3/14/52     597,183
     745,000 NGPL PipeCo LLC, 144a, 7.768%, 12/15/37     752,606
    663,000 Petroleos Mexicanos (Mexico), 6.625%, 6/15/35     423,657
          5,835,709
  Health Care — 0.8%  
     774,000 AbbVie, Inc., 4.450%, 5/14/46     629,111
     679,000 Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49     486,252
     700,000 Becton Dickinson and Co., 4.685%, 12/15/44     597,910
     734,000 CommonSpirit Health, 4.187%, 10/1/49     549,082
     686,000 CVS Health Corp., 5.125%, 7/20/45     600,636
     847,000 DH Europe Finance II Sarl, 3.250%, 11/15/39     642,246
     812,000 HCA Inc., 5.375%, 9/1/26     786,964
     679,000 Mylan, Inc., 4.550%, 4/15/28     600,062
    871,000 UnitedHealth Group, Inc., 3.500%, 8/15/39     684,963
          5,577,226
  Communication Services — 0.8%  
     433,000 AT&T, Inc., 4.500%, 5/15/35     374,296
   1,084,000 British Telecommunications PLC (United Kingdom), 144a, 3.250%, 11/8/29     883,967
     892,000 Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45     783,999
     692,000 Comcast Corp., 4.000%, 3/1/48     529,120
   1,319,000 Netflix, Inc., 6.375%, 5/15/29   1,309,126
     315,000 Paramount Global, 4.950%, 5/19/50     223,883
     943,000 T-Mobile USA, Inc., 3.875%, 4/15/30     836,135
    877,000 Verizon Communications, Inc., 2.987%, 10/30/56     521,397
          5,461,923
  Information Technology — 0.8%  
     580,000 Apple, Inc., 4.650%, 2/23/46     538,230
   1,309,000 Broadcom, Inc., 4.150%, 11/15/30   1,132,542
   1,064,000 Microchip Technology, Inc., 0.983%, 9/1/24     979,664
     544,000 Micron Technology, Inc., 2.703%, 4/15/32     395,101
     446,000 Microsoft Corp., 3.500%, 2/12/35     400,498
     912,000 NXP BV / NXP Funding LLC (China), 5.350%, 3/1/26     900,946
     365,000 Oracle Corp., 3.600%, 4/1/40     247,764
     247,000 Oracle Corp., 4.300%, 7/8/34     201,209
    630,000 Visa, Inc., 4.150%, 12/14/35     573,586
          5,369,540
  Real Estate — 0.7%  
     856,000 Crown Castle International Corp. REIT, 3.650%, 9/1/27     775,056
     684,000 Equinix, Inc. REIT, 2.900%, 11/18/26     613,934
     948,000 Host Hotels & Resorts LP REIT, Ser F, 4.500%, 2/1/26     900,508
     755,000 Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32     637,732
     612,000 Mid-America Apartments LP REIT, 3.750%, 6/15/24     598,507
     671,000 Sabra Health Care LP REIT, 5.125%, 8/15/26     629,773
     294,000 STORE Capital Corp. REIT, 4.500%, 3/15/28     280,049
    552,000 STORE Capital Corp. REIT, 4.625%, 3/15/29     527,550
          4,963,109
 
2
Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount 		      MarketValue
  Corporate Bonds — 12.6% (Continued)  
  Consumer Staples — 0.6%  
$  1,009,000 7-Eleven, Inc., 144a, 0.950%, 2/10/26 $    870,500
   1,090,000 Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46     944,654
     884,000 Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28     772,868
     301,000 Kroger Co. (The), 5.000%, 4/15/42     265,653
     850,000 Mars, Inc., 144a, 3.875%, 4/1/39     701,019
    484,000 Starbucks Corp., 3.350%, 3/12/50     330,031
          3,884,725
  Materials — 0.3%  
     501,000 Braskem America Finance Co. (Brazil), 144a, 7.125%, 7/22/41     438,587
     531,000 Braskem Netherlands Finance BV (Brazil), 144a, 5.875%, 1/31/50     376,214
     833,000 Celanese US Holdings LLC, 6.165%, 7/15/27     785,899
    846,000 Sherwin-Williams Co. (The), 4.500%, 6/1/47     686,304
          2,287,004
  Total Corporate Bonds  $88,312,211
  U.S. Treasury Obligations — 7.0%
   7,295,000 U.S. Treasury Bond, 1.750%, 8/15/41       4,990,236
   2,020,000 U.S. Treasury Bond, 2.250%, 2/15/52       1,467,341
   2,410,000 U.S. Treasury Bond, 2.875%, 5/15/52       2,021,387
   4,495,000 U.S. Treasury Bond, 3.250%, 5/15/42       3,990,015
  15,064,000 U.S. Treasury Note, 0.750%, 5/31/26      13,307,514
   3,195,000 U.S. Treasury Note, 1.625%, 1/31/27       2,865,391
 22,240,000 U.S. Treasury Note, 2.750%, 8/15/32      20,325,275
  Total U.S. Treasury Obligations  $48,967,159
  Commercial Mortgage-Backed Securities — 3.0%
     825,000 BANK, Ser 2018-BN14, Class A3, 3.966%, 9/15/60         769,302
  26,714,663 BANK, Ser 2019-BN21, Class XA, 0.966%, 10/17/52(B)(C)(D)       1,172,149
     905,000 BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63         745,833
   1,150,000 BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55         956,932
     870,000 BBCMS Mortgage Trust, Ser 2021-C11, Class A5, 2.322%, 9/15/54         691,595
   2,520,000 BBCMS Mortgage Trust, Ser 2021-C12, Class A5, 2.689%, 11/15/54       2,060,232
     670,000 BBCMS Mortgage Trust, Ser 2022-C14, Class A5, 2.946%, 2/15/55(B)(D)         558,757
     900,000 BPR Trust, Ser 2021-KEN, Class B, 144a, (1M LIBOR +1.950%), 4.768%, 2/15/29(B)         872,814
   1,500,000 BX Commercial Mortgage Trust, Ser 2020-VIV3, Class B, 144a, 3.662%, 3/9/44(B)(D)       1,251,282
   1,500,000 BX Commercial Mortgage Trust, Ser 2020-VIV4, Class A, 144a, 2.843%, 3/9/44       1,211,773
     755,000 Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53         632,957
   1,220,000 COMM Mortgage Trust, Ser 2018-HOME, Class A, 144a, 3.942%, 4/10/33(B)(D)       1,115,095
     700,000 GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.659%, 1/10/43(B)(D)         596,917
   1,205,000 GS Mortgage Securities Trust, Ser 2020-GC47, Class A5, 2.377%, 5/12/53         985,603
   1,000,000 HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (1M LIBOR +1.450%), 4.268%, 10/15/36(B)         950,009
562,000,000 Independence Plaza Trust, Ser 2018-INDP, Class XCP, 144a, 0.249%, 7/10/35(B)(C)(D)         643,378
     885,000 JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50          814,942
Principal
Amount 		      MarketValue
  Commercial Mortgage-Backed Securities — 3.0% (Continued)
$    500,000 JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (1M LIBOR +1.27%), 4.088%, 11/15/35(B)     $    479,433
   1,100,000 Morgan Stanley Capital I Trust, Ser 2018-H3, Class AS, 4.177%, 7/15/51       1,034,262
     825,000 SG Commercial Mortgage Securities Trust, Ser 2019-787E, Class A, 144a, 4.163%, 2/15/41         731,721
     770,000 Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Class B, 144a, 4.194%, 8/17/36(B)(D)         681,271
  2,220,000 Wells Fargo Commercial Mortgage Trust, Ser 2019-C53, Class A4, 3.040%, 10/15/52       1,913,613
  Total Commercial Mortgage-Backed Securities  $20,869,870
  U.S. Government Mortgage-Backed Obligations — 2.7%
       1,459 FHLMC, Pool #G08062, 5.000%, 6/1/35           1,474
     133,940 FHLMC, Pool #G08637, 4.000%, 4/1/45         127,438
     785,413 FHLMC, Pool #Q02664, 4.500%, 8/1/41         770,501
   1,339,742 FHLMC, Pool #Q29056, 4.000%, 10/1/44       1,274,735
     728,089 FHLMC, Pool #Q29260, 4.000%, 10/1/44         692,762
   1,556,113 FHLMC REMIC, Pool #SD8148, 3.000%, 5/1/51       1,363,945
         241 FNMA, Pool #690305, 5.500%, 3/1/33             240
     298,059 FNMA, Pool #725423, 5.500%, 5/1/34         307,121
     266,394 FNMA, Pool #725610, 5.500%, 7/1/34         274,701
      51,650 FNMA, Pool #748895, 6.000%, 12/1/33          51,819
     105,614 FNMA, Pool #AD9193, 5.000%, 9/1/40         106,574
     287,648 FNMA, Pool #AH8925, 4.500%, 3/1/41         281,891
     308,763 FNMA, Pool #AR9195, 3.000%, 3/1/43         276,964
     522,336 FNMA, Pool #BC1809, 3.500%, 5/1/46         479,870
   1,865,623 FNMA, Pool #BT7156, 2.000%, 8/1/51       1,517,526
   2,090,119 FNMA, Pool #CB1336, 2.000%, 8/1/41       1,752,020
   1,971,515 FNMA, Pool #FM5085, 2.000%, 12/1/50       1,607,556
     612,686 FNMA, Pool #FM5166, 3.000%, 12/1/50         538,047
     524,752 FNMA, Pool #FM5279, 3.500%, 11/1/50         476,964
     443,389 FNMA, Pool #FM5468, 2.500%, 1/1/36         403,248
     604,506 FNMA, Pool #FM5682, 2.500%, 1/1/51         512,430
   1,703,587 FNMA, Pool #FM7913, 2.000%, 4/1/36       1,503,442
   2,033,040 FNMA, Pool #FM8360, 2.500%, 8/1/51       1,722,639
   1,967,439 FNMA, Pool #FM8361, 2.500%, 8/1/51       1,663,236
     723,161 FNMA, Pool #MA4166, 3.000%, 10/1/40         640,021
    462,388 GNMA, Pool #5175, 4.500%, 9/20/41         456,858
  Total U.S. Government Mortgage-Backed Obligations  $18,804,022
  Asset-Backed Securities — 2.4%
   1,000,000 AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (3M LIBOR +1.650%), 4.162%, 4/15/34(B)         932,229
   1,500,000 AB BSL CLO 3, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (3M LIBOR +1.700%), 4.410%, 10/20/34(B)       1,397,547
     352,391 Adams Outdoor Advertising LP, Ser 2018-1, Class A, 144a, 4.810%, 11/15/48         333,437
     345,189 CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60         306,677
   1,295,333 CLI Funding VI LLC, Ser 2020-3A, Class A, 144a, 2.070%, 10/18/45       1,127,003
     844,375 Driven Brands Funding LLC, Ser 2019-1A, Class A2, 144a, 4.641%, 4/20/49         782,910
     356,856 Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34         326,708
   1,024,400 Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49         932,498
     990,000 Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52          860,181
 
3
Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount 		      MarketValue
  Asset-Backed Securities — 2.4% (Continued)
$    375,165 Jersey Mike's Funding, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50     $    341,016
   1,150,000 Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1, 144a, (3M LIBOR +1.700%), 4.438%, 10/19/34(B)       1,080,886
     573,777 Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58(B)(D)         477,566
     839,375 Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51         696,480
   1,500,000 Palmer Square CLO, Ltd. (Cayman Islands), Ser 2021-4A, Class B, 144a, (3M LIBOR +1.650%), 4.162%, 10/15/34(B)       1,404,981
     995,000 Planet Fitness Master Issuer LLC, Ser 2022-1A, Class A2I, 144a, 3.251%, 12/5/51         867,829
   1,500,000 Rockford Tower CLO, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (3M LIBOR +1.750%), 4.460%, 10/20/34(B)(E)       1,392,353
     383,150 TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45         335,631
   1,370,000 Textainer Marine Containers, Ltd. (China), Ser 2021-3A, Class A, 144a, 1.940%, 8/20/46       1,129,945
   1,400,000 Towd Point Mortgage Trust, Ser 2015-6, Class B1, 144a, 3.777%, 4/25/55(B)(D)       1,252,623
  1,140,000 Towd Point Mortgage Trust, Ser 2019-4, Class M1B, 144a, 3.000%, 10/25/59(B)(D)         912,114
  Total Asset-Backed Securities  $16,890,614
Shares        
  Exchange-Traded Fund — 1.5%  
    133,451 iShares JP Morgan USD Emerging Markets Bond ETF  10,596,009
Principal
Amount 		       
  Non-Agency Collateralized Mortgage Obligations — 1.3%
$    108,591 Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.564%, 7/25/43(B)(D)         105,459
     368,567 Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.522%, 6/25/45(B)(D)         348,672
     448,740 Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.651%, 10/25/45(B)(D)         407,770
     210,806 CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.406%, 5/25/43(B)(D)         202,649
     335,507 CSMC Trust, Ser 2015-1, Class B3, 144a, 3.914%, 1/25/45(B)(D)         308,832
     350,835 CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.781%, 12/25/44(B)(D)         323,273
   1,088,376 Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67       1,033,119
   1,307,197 GS Mortgage-Backed Securities Trust, Ser 2021-PJ8, Class A8, 144a, 2.500%, 1/25/52(B)(D)       1,129,872
     674,170 JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.450%, 1/25/47(B)(D)         564,820
   1,119,993 JP Morgan Mortgage Trust, Ser 2020-5, Class B1, 144a, 3.598%, 12/25/50(B)(D)         918,831
   1,397,426 Mill City Mortgage Loan Trust, Ser 2019-1, Class M1, 144a, 3.500%, 10/25/69(B)(D)       1,224,315
     157,939 Sequoia Mortgage Trust, Ser 2015-2, Class A19, 144a, 3.500%, 5/25/45(B)(D)         140,555
     894,289 Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.770%, 8/25/48(B)(D)          855,171
Principal
Amount 		      MarketValue
  Non-Agency Collateralized Mortgage Obligations — 1.3%
(Continued)
$    811,381 Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.770%, 8/25/48(B)(D)     $    775,890
  1,302,505 Wells Fargo Mortgage Backed Securities Trust, Ser 2021-2, Class A3, 144a, 2.500%, 6/25/51(B)(D)       1,121,624
  Total Non-Agency Collateralized Mortgage Obligations   $9,460,852
  Agency Collateralized Mortgage Obligations — 0.8%
     515,000 FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50         374,558
   1,650,000 FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40       1,234,808
   1,500,000 FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49       1,218,980
   2,150,000 FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49       1,622,558
   1,370,000 FREMF Mortgage Trust, Ser 2019-K103, Class B, 144a, 3.574%, 12/25/51(B)(D)       1,184,275
     233,283 GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40         231,173
  4,003,421 GNMA, Ser 2012-147, Class IO, 0.553%, 4/16/54(B)(C)(D)          55,139
  Total Agency Collateralized Mortgage Obligations   $5,921,491
  Sovereign Government Obligations — 0.5%
     674,000 Bahamas Government International Bond, 144a, 6.000%, 11/21/28         404,411
     609,000 Chile Government International Bond, 3.100%, 5/7/41         413,885
     750,000 Chile Government International Bond, 3.100%, 1/22/61         438,174
     663,000 Colombia Government International Bond, 3.250%, 4/22/32         448,077
     725,000 Ecuador Government International Bond, 144a, 5.500%, 7/31/30         341,342
     680,000 Egypt Government International Bond, 144a, 7.625%, 5/29/32         409,150
     680,000 Ghana Government International Bond, 144a, 7.625%, 5/16/29         258,400
     728,000 Mexico Government International Bond, 3.771%, 5/24/61         430,167
     655,000 Nigeria Government International Bond, 144a, 7.625%, 11/28/47         363,525
    650,000 Republic of Uzbekistan International Bond, 144a, 3.700%, 11/25/30         463,554
  Total Sovereign Government Obligations   $3,970,685
Shares        
  Preferred Stocks — 0.1%  
  Financials — 0.1%  
      4,055 Bank of America Corp., Ser NN, 4.375%(A)      74,126
      3,615 US Bancorp, Ser L, 3.750%(A)      58,093
      7,910 Wells Fargo & Co., Ser AA, 4.700%(A)     146,572
     11,825 Wells Fargo & Co., Ser DD, 4.250%(A)     203,272
  Total Preferred Stocks     $482,063
 
4
Touchstone Balanced Fund (Unaudited) (Continued)
Shares       MarketValue
  Short-Term Investment Fund — 4.1%  
 28,691,131 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω $ 28,691,131
  Total Investment Securities—99.5%
(Cost $671,512,287) 		$698,842,254
  Other Assets in Excess of Liabilities — 0.5%   3,223,133
  Net Assets — 100.0% $702,065,387
(A) Perpetual Bond - A bond or preferred stock with no definite maturity date.
(B) Variable rate security - Rate reflected is the rate in effect as of September 30, 2022.
(C) Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.
(D) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(E) Security has no stated coupon and is considered an equity position in the collateralized loan obligation (“CLO”). CLO equity investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses.
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
CLO – Collateralized Loan Obligation
DAC – Designated Activity Company
ETF – Exchange-Traded Fund
FHLMC – Federal Home Loan Mortgage Corporation
FNMA – Federal National Mortgage Association
FREMF – Freddie Mac Multifamily Securitization
GNMA – Government National Mortgage Association
IO – Interest Only
LIBOR – London Interbank Offered Rate
LLC – Limited Liability Company
LP – Limited Partnership
MTN – Medium Term Note
PLC – Public Limited Company
REIT – Real Estate Investment Trust
REMIC – Real Estate Mortgage Investment Conduit
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2022, these securities were valued at $54,698,328 or 7.8% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Assets:        
Common Stocks $445,876,147 $— $— $445,876,147
Corporate Bonds — 88,312,211 — 88,312,211
U.S. Treasury Obligations — 48,967,159 — 48,967,159
Commercial Mortgage-Backed Securities — 20,869,870 — 20,869,870
U.S. Government Mortgage-Backed Obligations — 18,804,022 — 18,804,022
Asset-Backed Securities — 16,890,614 — 16,890,614
Exchange-Traded Fund 10,596,009 — — 10,596,009
Non-Agency Collateralized Mortgage Obligations — 9,460,852 — 9,460,852
Agency Collateralized Mortgage Obligations — 5,921,491 — 5,921,491
Sovereign Government Obligations — 3,970,685 — 3,970,685
Preferred Stocks 482,063 — — 482,063
Short-Term Investment Fund 28,691,131 — — 28,691,131
Other Financial Instruments        
Futures        
Interest rate contracts 150,522 — — 150,522
Total Assets $485,795,872 $213,196,904 $— $698,992,776
Liabilities:        
Other Financial Instruments        
Futures        
Interest rate contracts $(143,718) $— $— $(143,718)
Total Liabilities $(143,718) $— $— $(143,718)
Total $485,652,154 $213,196,904 $— $698,849,058
 
Futures Contracts
At September 30, 2022, $229,875 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at September 30, 2022: 
Description Expiration Date Number of
Contracts 		Notional Value Unrealized
Appreciation/
(Depreciation)
Short Futures:        
30-Year U.S. Ultra Long Term Treasury Bond 12/20/2022 25 $3,575,522 $150,522
Long Futures:        
2-Year U.S. Treasury Note 12/30/2022 149 30,746,922 (143,718)
        $6,804
See accompanying Notes to Portfolios of Investments.
5
Portfolio of Investments
Touchstone Core Municipal Bond Fund – September 30, 2022 (Unaudited)
Principal
Amount 		      Market
Value
  Fixed Rate Revenue Bonds – 72.8%
$  500,000 Alaska Municipal Bond Bank Auth., Revenue, 5.000%, 12/01/33 $   534,464
   500,000 American Municipal Power Inc, Revenue, 5.000%, 02/15/35    533,512
   500,000 Brevard County Health Fac. Auth., Revenue, 5.000%, 04/01/52    492,132
   450,000 City of Erie Higher Education Building Authority, Revenue, 5.000%, 05/01/47    431,124
   550,000 City of Lake Worth Beach FL Consolidated Utility Revenue, 4.000%, 10/01/52    486,624
   500,000 City of Panama City Beach, 4.000%, 11/01/44    439,214
   500,000 Cleveland, OH, Airport System Rev. Ser B, 5.000%, 01/01/37    519,662
   500,000 Cobb County Kennestone Hospital Auth., Revenue, 4.000%, 04/01/52    417,715
   500,000 Colorado Health Fac. Auth., Revenue Ser A, 5.000%, 05/15/25    520,123
   500,000 Colorado River Municipal Water District, Revenue, 5.000%, 01/01/25    518,083
   500,000 Connecticut State Health & Educational Fac. Auth., Revenue, 5.000%, 07/01/26    521,661
   700,000 County of Miami-Dade FL Aviation Revenue, Revenue Ser A, 5.000%, 10/01/33    736,227
1,000,000 Cuyahoga County, OH COP, 5.000%, 12/01/32  1,013,669
   350,000 Dallas Fort Worth International Airport, Revenue Ser B, 5.000%, 11/01/24    361,350
   500,000 Dallas Fort Worth International Airport, Revenue Ser B, 5.000%, 11/01/25    523,382
   685,000 DeKalb-Jackson Water Supply District Inc, Revenue Ser A, 5.000%, 07/01/32    733,994
   500,000 Florida Development Finance Corp., Revenue Ser A, 5.000%, 06/15/30    510,179
   510,000 Florida Governmental Utility Auth., Revenue Ser A, 5.000%, 10/01/25    533,268
   500,000 Fort Pierce Utilities Auth., Revenue, 4.000%, 10/01/52    434,432
   500,000 Georgetown, TX, Utility System Revenue, 5.000%, 08/15/25    520,507
   425,000 Georgetown, TX, Utility System Revenue, 5.000%, 08/15/35    453,144
   500,000 Greater Jasper School Building Corp., Revenue, 5.000%, 07/15/29    539,359
   350,000 Guam Power Auth., Revenue Ser A, 5.000%, 10/01/26    361,866
   500,000 Hamilton County, OH, 5.000%, 02/01/30    503,769
1,080,000 Hamilton County, OH, 5.000%, 05/15/33  1,100,306
   500,000 Hamilton County, OH, 5.000%, 08/15/40    498,969
1,000,000 Hamilton County, OH EDR, 5.000%, 06/01/33  1,032,125
   465,000 Harris County Cultural Education Fac. Finance Corp., Revenue Ser A, 5.000%, 07/01/52    458,322
   500,000 Hospitals & Higher Education Fac. Auth. of Philadelphia/The, Revenue, 5.000%, 07/01/37    512,354
   675,000 Illinois State Toll Highway Authority, Revenue Ser A, 5.000%, 01/01/46    690,797
   500,000 Iowa Higher Education Loan Auth., Revenue, 5.375%, 10/01/52    498,608
   525,000 Jacksonville, FL, Revenue Ser R, 5.000%, 10/01/35    563,421
   500,000 JEA Electric System Revenue, 5.000%, 10/01/28    538,114
   595,000 Kentucky Public Energy Auth., Revenue Ser 1, 4.000%, 02/01/30    573,941
   500,000 Kentucky State Property & Building Commission, Revenue Ser A, 5.000%, 11/01/23    508,860
   500,000 Kentucky State Property & Building Commission, Revenue Ser B, 5.000%, 11/01/23    508,860
  500,000 Lancaster School District Ser A, 4.125%, 11/01/50     454,983
Principal
Amount 		      Market
Value
   
$  500,000 Lehigh County, PA, Revenue, 5.000%, 07/01/28 $   524,801
   500,000 Louisville/Jefferson County Metropolitan Government, Revenue Ser A, 5.000%, 05/15/52    490,595
   500,000 Maryland Stadium Auth., Revenue, 5.000%, 06/01/28    537,861
   555,000 Massachusetts School Building Auth., Revenue Ser A, 5.000%, 08/15/45    581,354
   575,000 Metropolitan Transportation Authority, Revenue, 5.000%, 11/15/22    576,111
   485,000 Michigan Finance Auth., Revenue Ser A, 5.000%, 12/01/34    512,680
   500,000 Michigan Finance Authority, Revenue, 5.000%, 06/01/32    517,791
   500,000 Monroeville Finance Auth., Revenue Ser B, 5.000%, 02/15/29    522,697
   500,000 Municipal Electric Authority of Georgia, 5.000%, 07/01/52    482,432
   500,000 New Jersey Transportation Trust Fund Authority, Revenue, 5.000%, 06/15/45    494,500
   500,000 New York State Dormitory Auth., Revenue, 5.000%, 07/01/29    513,099
   500,000 New York State Dormitory Auth., Revenue, 5.000%, 05/01/52    494,363
   500,000 Newark Higher Education Finance Corp., Revenue Ser A, 4.000%, 04/01/57    388,353
   500,000 North Kent Sewer Auth., Revenue, 5.000%, 11/01/23    508,860
   650,000 North Sumter County Utility Dependent District, Revenue Ser N, 5.000%, 10/01/49    643,514
   500,000 Ohio Higher Educational Fac. Commission, 5.000%, 03/01/34    480,496
   525,000 Ohio State University (The) Ser A, 4.000%, 12/01/33    525,631
   500,000 Oregon State Fac. Auth., Revenue Ser A, 5.000%, 06/01/52    492,833
   500,000 Pasco County School Board, COP Ser B, 5.000%, 08/01/46    510,190
   500,000 Pennsylvania Higher Educational Fac. Auth., Revenue Ser A, 5.000%, 05/01/32    536,392
   695,000 Pennsylvania Turnpike Commission, Revenue, 5.000%, 12/01/44    686,735
   500,000 Pittsburg Successor Agency Redevelopment Agency, 5.000%, 08/01/23    506,980
   500,000 Polaris Career Center COP, 5.000%, 11/01/35    517,905
   500,000 Regional Transportation District, Revenue, 5.000%, 01/15/29    513,006
   555,000 School District of Broward County, COP Ser B, 5.000%, 07/01/36    589,632
   580,000 South Carolina Jobs-Economic Development Auth., Revenue Ser A, 4.000%, 04/01/52    492,175
   520,000 South Carolina Public Service Auth., Revenue Ser A, 4.000%, 12/01/52    419,095
   305,000 South Carolina Public Service Authority, Revenue Ser B, 5.000%, 12/01/43    300,972
   585,000 South Wayne County Water and Sewer Authority, Revenue Ser S, 4.000%, 02/15/37    555,293
   200,000 St Johns County School Board, COP Ser A, 5.000%, 07/01/25    209,051
   510,000 State Board of Higher Education of the State of North Dakota, Revenue Ser A, 5.000%, 04/01/29    537,623
   400,000 State of Ohio, 4.000%, 11/15/40    338,782
   500,000 Tobacco Settlement Financing Corp, Revenue, 5.000%, 06/01/30    515,897
   500,000 Town of Upland, Revenue EDR, 4.000%, 09/01/43    423,121
   500,000 Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 10/01/28    538,952
   500,000 Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 12/01/38    516,419
  240,000 Yamhill County, OR, Revenue, 4.000%, 12/01/41    206,507
  Total Fixed Rate Revenue Bonds $38,781,818
 
6
Touchstone Core Municipal Bond Fund (Unaudited) (Continued)
Principal
Amount 		      Market
Value
  General Obligation Bonds – 24.5%
$  500,000 Albuquerque Municipal School District No 12, UTGO Ser A, 5.000%, 08/01/35 $   538,170
   500,000 Chicago Board of Education, UTGO, 4.000%, 12/01/47    393,542
   500,000 Clark County School District, LTGO Ser D, 5.000%, 06/15/24    512,175
   500,000 Farmington Independent School District No 192, UTGO Ser C, 5.000%, 02/01/23    503,083
   700,000 Fort Zumwalt School District, UTGO, 5.000%, 03/01/32    750,877
   485,000 Fowler Public School District, UTGO Ser II, 4.000%, 05/01/50    432,814
   100,000 Gold Hill Mesa Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/28    103,325
   150,000 Gold Hill Mesa Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/29    155,051
   500,000 Indianapolis Board of School Commissioners, LTGO, 5.000%, 07/15/24    514,914
   500,000 Jackson, MS, UTGO, 5.000%, 03/01/28    539,994
   500,000 Maricopa County Special Health Care District, UTGO, 5.000%, 07/01/28    540,769
   500,000 Maui County, HI, UTGO, 5.000%, 03/01/24    513,000
   610,000 Milwaukee, WI, UTGO Ser N3, 5.000%, 04/01/29    659,389
   500,000 Nassau County, NY, LTGO Ser A, 5.000%, 04/01/29    545,926
   510,000 Novi Community School District, UTGO Ser I, 5.000%, 05/01/42    534,558
   250,000 Prairiestar Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/46    258,635
   650,000 Romulus Community Schools, Revenue Ser A, 4.000%, 05/01/23    652,875
   500,000 Salem, OR, UTGO, 5.000%, 06/01/24    515,178
   450,000 School District of Philadelphia/The, LTGO Ser B, 5.000%, 09/01/30    475,754
   440,000 School District of Philadelphia/The, LTGO Ser D, 5.000%, 09/01/25    455,841
   500,000 State of New Jersey, UTGO, 5.000%, 06/01/29    541,327
   500,000 Sterling Heights, MI, LTGO, 5.000%, 04/01/29    543,499
1,000,000 Toledo, OH, LTGO, 4.000%, 12/01/35    986,468
  585,000 Town of Stratford, UTGO, 5.000%, 05/15/33     624,020
Principal
Amount 		      Market
Value
   
$  300,000 Upper Arlington, OH LTGO, 4.000%, 12/01/32 $   304,208
  535,000 Washington Township Health Care District, UTGO Ser A, 4.000%, 08/01/38    492,828
  Total General Obligation Bonds $13,088,220
Shares        
  Short-Term Investment Fund — 1.5%
  776,504 Dreyfus Government Cash Management Institutional Shares, 2.750%∞Ω    776,504
  Total Investment Securities—98.8%
(Cost $57,429,453) 		$52,646,542
  Other Assets in Excess of Liabilities — 1.2%    $655,488
  Net Assets — 100.0% $53,302,030
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
COP–Certificates of Participation
EDR–Economic Development Revenue
LTGO–Limited Tax General Obligation
UTGO–Unlimited Tax General Obligation
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Municipal Bonds $— $51,870,038 $— $51,870,038
Short-Term Investment Fund 776,504 — — 776,504
Total $776,504 $51,870,038 $— $52,646,542
See accompanying Notes to Portfolios of Investments.
 
7
Portfolio of Investments
Touchstone International Equity Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 89.9%  
  France — 15.1%  
  Communication Services — 2.5%  
  189,700 JCDecaux SA* $ 2,225,821
  Consumer Discretionary — 7.2%  
  117,100 Accor SA*  2,451,560
  113,100 Cie Generale des Etablissements Michelin SCA  2,534,085
    2,500 LVMH Moet Hennessy Louis Vuitton SE  1,473,937
  Energy — 3.4%  
   64,600 TotalEnergies SE  3,030,682
  Health Care — 2.0%  
   23,200 Sanofi  1,766,599
  Total France 13,482,684
  Switzerland — 14.3%  
  Consumer Staples — 3.0%  
   25,000 Nestle SA  2,703,933
  Health Care — 6.0%  
   31,500 Novartis AG  2,401,465
    9,000 Roche Holding AG  2,929,795
  Industrials — 2.8%  
   89,100 Adecco Group AG  2,459,122
  Materials — 2.5%  
   55,200 Holcim AG  2,262,127
  Total Switzerland 12,756,442
  United Kingdom — 13.8%  
  Consumer Staples — 2.2%  
   29,800 Reckitt Benckiser Group PLC  1,975,189
  Health Care — 3.1%  
1,203,400 ConvaTec Group PLC, 144a  2,734,813
  Industrials — 4.2%  
   43,500 Bunzl PLC  1,329,055
  138,000 Howden Joinery Group PLC    770,943
  628,000 Rotork PLC  1,642,195
  Information Technology — 2.3%  
   68,000 Spectris PLC  2,054,814
  Real Estate — 2.0%  
1,046,437 Foxtons Group PLC    353,441
  165,900 Savills PLC  1,456,286
  Total United Kingdom 12,316,736
  Germany — 8.5%  
  Health Care — 2.1%  
   87,900 Fresenius SE & Co. KGaA  1,873,606
  Industrials — 2.2%  
   32,600 Brenntag SE  1,970,735
  Information Technology — 2.1%  
   22,800 SAP SE  1,858,090
  Materials — 2.1%  
   86,400 FUCHS PETROLUB SE  1,903,925
  Total Germany  7,606,356
  Mexico — 5.2%  
  Communication Services — 1.5%  
  650,687 Megacable Holdings SAB de CV  1,310,776
  Consumer Staples — 3.7%  
2,492,100 Kimberly-Clark de Mexico SAB de CV - Class A  3,311,333
  Total Mexico  4,622,109
Shares       Market
Value
     
  Canada — 4.6%  
  Materials — 4.6%  
   24,200 Agnico Eagle Mines Ltd. $ 1,022,414
  199,100 Barrick Gold Corp.  3,085,917
  Total Canada  4,108,331
  Brazil — 4.1%  
  Industrials — 2.2%  
1,772,200 Boa Vista Servicos SA  1,941,606
  Information Technology — 1.9%  
  127,800 Pagseguro Digital Ltd. - Class A*  1,690,794
  Total Brazil  3,632,400
  Japan — 4.0%  
  Consumer Discretionary — 1.9%  
  113,000 USS Co. Ltd.  1,745,186
  Industrials — 2.1%  
   13,300 FANUC Corp.  1,867,510
  Total Japan  3,612,696
  United States — 3.3%  
  Health Care — 3.3%  
   37,000 Medtronic PLC  2,987,750
  Hong Kong — 2.8%  
  Consumer Discretionary — 2.8%  
  428,000 Galaxy Entertainment Group Ltd.  2,515,738
  South Korea — 2.8%  
  Information Technology — 2.8%  
   68,000 Samsung Electronics Co. Ltd.  2,496,909
  India — 2.3%  
  Communication Services — 2.3%  
  855,900 Indus Towers Ltd.  2,066,054
  Greece — 2.1%  
  Consumer Discretionary — 2.1%  
  156,000 OPAP SA  1,870,825
  China — 2.0%  
  Communication Services — 2.0%  
   51,900 Tencent Holdings Ltd.  1,752,991
  Norway — 1.4%  
  Energy — 1.4%  
  102,900 TGS ASA  1,257,680
  Tanzania — 1.3%  
  Communication Services — 1.3%  
  930,000 Helios Towers PLC*  1,172,344
  Netherlands — 1.3%  
  Information Technology — 1.3%  
    2,800 ASML Holding NV  1,159,981
  Spain — 1.0%  
  Industrials — 1.0%  
   29,000 Befesa SA, 144a    880,074
  Total Common Stocks $80,298,100
 
8
Touchstone International Equity Fund (Unaudited) (Continued)
Shares       Market
Value
  Short-Term Investment Fund — 9.8%  
8,780,488 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω $ 8,780,488
  Total Investment Securities — 99.7%
(Cost $104,050,112) 		$89,078,588
  Other Assets in Excess of Liabilities — 0.3%    241,001
  Net Assets — 100.0% $89,319,589
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
PLC – Public Limited Company
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2022, these securities were valued at $3,614,887 or 4.0% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks        
France $— $13,482,684 $— $13,482,684
Switzerland — 12,756,442 — 12,756,442
United Kingdom 1,995,636 10,321,100 — 12,316,736
Germany — 7,606,356 — 7,606,356
Mexico 4,622,109 — — 4,622,109
Canada 4,108,331 — — 4,108,331
Brazil 3,632,400 — — 3,632,400
Japan — 3,612,696 — 3,612,696
United States 2,987,750 — — 2,987,750
Hong Kong — 2,515,738 — 2,515,738
South Korea — 2,496,909 — 2,496,909
India — 2,066,054 — 2,066,054
Greece — 1,870,825 — 1,870,825
China — 1,752,991 — 1,752,991
Norway — 1,257,680 — 1,257,680
Tanzania 1,172,344 — — 1,172,344
Netherlands — 1,159,981 — 1,159,981
Spain — 880,074 — 880,074
Short-Term Investment Fund 8,780,488 — — 8,780,488
Total $27,299,058 $61,779,530 $— $89,078,588
See accompanying Notes to Portfolios of Investments.
9
Portfolio of Investments
Touchstone International Growth Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 96.3%  
  Canada — 15.5%  
  Consumer Discretionary — 3.6%  
   34,250 Dollarama, Inc. $ 1,966,211
  Financials — 8.0%  
   21,050 Bank of Montreal  1,844,951
    6,440 Royal Bank of Canada    579,826
   31,039 Toronto-Dominion Bank (The)  1,903,646
  Industrials — 1.7%  
   60,200 CAE, Inc.*    923,472
  Real Estate — 2.2%  
   24,220 Granite Real Estate Investment Trust REIT  1,168,963
  Total Canada  8,387,069
  India — 15.2%  
  Financials — 11.8%  
   54,420 HDFC Bank Ltd. ADR  3,179,216
  153,710 ICICI Bank Ltd. ADR  3,223,299
  Information Technology — 3.4%  
   21,900 Larsen & Toubro Infotech Ltd., 144a  1,186,367
   17,730 Tata Consultancy Services Ltd.    649,785
  Total India  8,238,667
  United Kingdom — 12.4%  
  Consumer Discretionary — 2.5%  
  114,675 Entain PLC  1,371,108
  Health Care — 7.0%  
   34,360 AstraZeneca PLC  3,777,177
  Information Technology — 2.9%  
    6,360 Endava PLC ADR*    512,807
   74,130 Kainos Group PLC  1,065,248
  Total United Kingdom  6,726,340
  France — 9.9%  
  Industrials — 2.0%  
    4,230 Teleperformance  1,073,082
  Information Technology — 7.9%  
   26,950 Capgemini SE  4,314,710
  Total France  5,387,792
  United States — 7.0%  
  Communication Services — 1.7%  
    9,400 Alphabet, Inc. - Class A*    899,110
  Financials — 2.1%  
   16,140 Charles Schwab Corp. (The)  1,159,982
  Information Technology — 3.2%  
    3,590 Accenture PLC - Class A    923,707
    3,475 Microsoft Corp.    809,327
  Total United States  3,792,126
  Switzerland — 4.9%  
  Health Care — 4.9%  
   23,850 Alcon, Inc.  1,385,338
    5,650 Sonova Holding AG  1,243,344
  Total Switzerland  2,628,682
  Israel — 4.6%  
  Information Technology — 4.6%  
   13,355 Nice Ltd. ADR*  2,513,945
Shares       Market
Value
     
  Singapore — 4.1%  
  Financials — 4.1%  
   94,900 DBS Group Holdings Ltd. $ 2,195,357
  Sweden — 3.6%  
  Consumer Discretionary — 3.6%  
   24,480 Evolution AB, 144a  1,935,084
  Taiwan — 3.2%  
  Information Technology — 3.2%  
   24,970 Taiwan Semiconductor Manufacturing Co. Ltd. ADR  1,711,943
  Germany — 2.9%  
  Communication Services — 1.5%  
   21,170 Stroeer SE & Co. KGaA    797,377
  Information Technology — 1.4%  
    9,350 SAP SE    761,980
  Total Germany  1,559,357
  Italy — 2.3%  
  Information Technology — 2.3%  
  154,700 Nexi SpA, 144a*  1,249,685
  Netherlands — 2.2%  
  Information Technology — 2.2%  
    2,929 ASML Holding NV  1,213,423
  South Korea — 2.2%  
  Communication Services — 2.2%  
    8,860 NAVER Corp.  1,180,296
  Thailand — 1.9%  
  Consumer Staples — 1.9%  
2,521,200 Thai Beverage PCL  1,049,613
  Japan — 1.8%  
  Communication Services — 1.8%  
   58,700 Kakaku.com, Inc.†    994,741
  Spain — 1.5%  
  Health Care — 1.5%  
   94,650 Grifols SA*    817,714
  Indonesia — 1.1%  
  Financials — 1.1%  
  999,800 Bank Mandiri Persero Tbk PT    613,918
  Total Common Stocks $52,195,752
  Short-Term Investment Funds — 5.7%  
2,072,072 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω  2,072,072
1,039,060 Invesco Government & Agency Portfolio, Institutional Class, 2.88%∞Ω**  1,039,060
  Total Short-Term Investment Funds  $3,111,132
  Total Investment Securities — 102.0%
(Cost $65,599,816) 		$55,306,884
  Liabilities in Excess of Other Assets — (2.0)% (1,080,433)
  Net Assets — 100.0% $54,226,451
* Non-income producing security.
** Represents collateral for securities loaned.
† All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2022 was $984,794.
∞ Open-End Fund.
 
10
Touchstone International Growth Fund (Unaudited) (Continued)
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
PCL – Public Company Limited
PLC – Public Limited Company
REIT – Real Estate Investment Trust
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2022, these securities were valued at $4,371,136 or 8.1% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks        
Canada $8,387,069 $— $— $8,387,069
India 6,402,515 1,836,152 — 8,238,667
United Kingdom 1,578,055 5,148,285 — 6,726,340
France — 5,387,792 — 5,387,792
United States 3,792,126 — — 3,792,126
Switzerland — 2,628,682 — 2,628,682
Israel 2,513,945 — — 2,513,945
Singapore — 2,195,357 — 2,195,357
Sweden — 1,935,084 — 1,935,084
Taiwan 1,711,943 — — 1,711,943
Germany — 1,559,357 — 1,559,357
Italy — 1,249,685 — 1,249,685
Netherlands — 1,213,423 — 1,213,423
South Korea — 1,180,296 — 1,180,296
Thailand — 1,049,613 — 1,049,613
Japan — 994,741 — 994,741
Spain — 817,714 — 817,714
Indonesia — 613,918 — 613,918
Short-Term Investment Funds 3,111,132 — — 3,111,132
Total $27,496,785 $27,810,099 $— $55,306,884
See accompanying Notes to Portfolios of Investments.
11
Portfolio of Investments
Touchstone Large Cap Focused Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 94.7%  
  Information Technology — 28.2%  
  1,201,107 Apple, Inc. $  165,992,987
    278,071 International Business Machines Corp.    33,037,615
    824,262 Microsoft Corp.   191,970,620
    701,356 Oracle Corp.    42,831,811
    302,023 PayPal Holdings, Inc.*    25,995,120
    321,608 salesforce, Inc.*    46,260,095
    571,750 SS&C Technologies Holdings, Inc.    27,301,062
    315,055 Texas Instruments, Inc.    48,764,213
    292,038 Visa, Inc. - Class A    51,880,551
    174,337 Workday, Inc. - Class A*    26,537,578
          660,571,652
  Health Care — 15.9%  
    348,761 AmerisourceBergen Corp.    47,197,826
    526,434 BioMarin Pharmaceutical, Inc.*    44,625,810
    747,649 Bristol-Myers Squibb Co.    53,150,368
    244,688 HCA Healthcare, Inc.    44,971,208
    517,873 Johnson & Johnson    84,599,733
    190,852 UnitedHealth Group, Inc.    96,387,894
          370,932,839
  Communication Services — 11.9%  
  1,252,702 Alphabet, Inc. - Class C*   120,447,297
  1,011,459 AT&T, Inc.    15,515,781
  1,091,924 Comcast Corp. - Class A    32,026,131
    246,424 Fox Corp. - Class A     7,560,288
    418,579 Meta Platforms, Inc. - Class A*    56,792,799
     96,805 Netflix, Inc.*    22,791,769
    220,347 Walt Disney Co. (The)*    20,785,333
    244,689 Warner Bros Discovery, Inc.*     2,813,923
          278,733,321
  Financials — 11.2%  
  1,968,763 Bank of America Corp.    59,456,643
    390,709 Berkshire Hathaway, Inc. - Class B*   104,327,117
    211,846 Goldman Sachs Group, Inc. (The)    62,081,470
     33,943 Markel Corp.*    36,801,680
          262,666,910
  Consumer Discretionary — 8.6%  
    209,864 Airbnb, Inc. - Class A*    22,044,115
    180,099 Alibaba Group Holding Ltd. (China) ADR*    14,406,119
    955,520 Amazon.com, Inc.*   107,973,760
    244,592 Hilton Worldwide Holdings, Inc.    29,502,687
    327,273 Starbucks Corp.    27,576,023
          201,502,704
  Industrials — 8.5%  
    186,493 Boeing Co. (The)*    22,580,573
     58,789 Deere & Co.    19,629,059
     94,428 FedEx Corp.     14,019,725
Shares       Market
Value
     
  Industrials — (Continued)  
    293,590 Hubbell, Inc. $   65,470,570
    633,218 Raytheon Technologies Corp.    51,835,226
    820,086 Southwest Airlines Co.*    25,291,452
          198,826,605
  Consumer Staples — 4.2%  
    554,764 Monster Beverage Corp.*    48,242,278
    594,112 Philip Morris International, Inc.    49,317,237
           97,559,515
  Energy — 3.5%  
    614,529 Exxon Mobil Corp.    53,654,527
    801,837 Schlumberger NV    28,785,948
           82,440,475
  Real Estate — 1.4%  
    212,535 Jones Lang LaSalle, Inc.*    32,107,662
  Materials — 1.3%  
    613,323 DuPont de Nemours, Inc.    30,911,479
  Total Common Stocks $2,216,253,162
  Short-Term Investment Fund — 5.4%  
127,868,661 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω   127,868,661
  Total Investment Securities—100.1%
(Cost $1,748,963,555) 		$2,344,121,823
  Liabilities in Excess of Other Assets — (0.1%)    (3,263,024)
  Net Assets — 100.0% $2,340,858,799
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $2,216,253,162 $— $— $2,216,253,162
Short-Term Investment Fund 127,868,661 — — 127,868,661
Total $2,344,121,823 $— $— $2,344,121,823
See accompanying Notes to Portfolios of Investments.
 
12
Portfolio of Investments
Touchstone Large Cap Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 98.9%  
  Financials — 19.1%  
   61,588 Berkshire Hathaway, Inc. - Class B* $ 16,445,228
   18,613 BlackRock, Inc.  10,242,361
  165,136 Charles Schwab Corp. (The)  11,868,324
   76,265 Progressive Corp. (The)   8,862,756
         47,418,669
  Information Technology — 19.0%  
  117,766 Apple, Inc.  16,275,261
  131,819 Cisco Systems, Inc.   5,272,760
   81,575 Fiserv, Inc.*   7,632,973
   60,504 Texas Instruments, Inc.   9,364,809
   49,830 Visa, Inc. - Class A   8,852,300
         47,398,103
  Consumer Discretionary — 15.4%  
   70,540 CarMax, Inc.*   4,657,051
   33,581 Home Depot, Inc. (The)   9,266,341
   28,772 Lowe's Cos., Inc.   5,403,669
   17,904 O'Reilly Automotive, Inc.*  12,592,778
   75,710 Starbucks Corp.   6,379,325
         38,299,164
  Communication Services — 9.6%  
  136,211 Alphabet, Inc. - Class C*  13,096,688
   43,718 Meta Platforms, Inc. - Class A*   5,931,658
  126,969 Verizon Communications, Inc.   4,821,013
         23,849,359
  Consumer Staples — 9.3%  
  201,953 Altria Group, Inc.   8,154,862
   93,667 Church & Dwight Co., Inc.   6,691,570
   78,116 Nestle SA (Switzerland) ADR   8,406,063
         23,252,495
  Materials — 8.9%  
   29,065 Air Products & Chemicals, Inc.   6,764,298
   29,204 Martin Marietta Materials, Inc.   9,406,316
   20,266 NewMarket Corp.   6,096,621
         22,267,235
  Industrials — 8.1%  
   39,878 FedEx Corp.   5,920,687
   39,865 Norfolk Southern Corp.   8,357,697
   23,561 Old Dominion Freight Line, Inc.   5,861,270
         20,139,654
Shares       Market
Value
     
  Health Care — 5.6%  
   46,493 Johnson & Johnson $  7,595,096
  142,827 Pfizer, Inc.   6,250,110
         13,845,206
  Real Estate — 3.9%  
  307,876 STORE Capital Corp. REIT   9,645,755
  Total Common Stocks $246,115,640
  Short-Term Investment Fund — 1.0%  
2,425,202 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω   2,425,202
  Total Investment Securities—99.9%
(Cost $179,665,983) 		$248,540,842
  Other Assets in Excess of Liabilities — 0.1%     246,715
  Net Assets — 100.0% $248,787,557
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $246,115,640 $— $— $246,115,640
Short-Term Investment Fund 2,425,202 — — 2,425,202
Total $248,540,842 $— $— $248,540,842
See accompanying Notes to Portfolios of Investments.
 
13
Portfolio of Investments
Touchstone Large Company Growth Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 97.1%  
  Information Technology — 45.9%  
   19,950 Accenture PLC - Class A $  5,133,135
   13,431 Adobe, Inc.*   3,696,211
    7,900 ASML Holding NV (Netherlands)   3,281,265
    4,175 Autodesk, Inc.*     779,890
    9,190 Automatic Data Processing, Inc.   2,078,686
    8,875 Entegris, Inc.     736,803
   14,350 EPAM Systems, Inc.*   5,197,427
   40,911 Fiserv, Inc.*   3,828,042
   24,210 FleetCor Technologies, Inc.*   4,265,076
   12,700 Intuit, Inc.   4,918,964
    9,151 Mastercard, Inc. - Class A   2,601,995
   71,225 Microsoft Corp.  16,588,302
   18,108 NVIDIA Corp.   2,198,130
   71,200 PayPal Holdings, Inc.*   6,128,184
    3,025 SolarEdge Technologies, Inc.*     700,167
   40,260 Visa, Inc. - Class A   7,152,189
         69,284,466
  Health Care — 13.7%  
   61,250 AstraZeneca PLC (United Kingdom) ADR   3,358,950
  184,778 Boston Scientific Corp.*   7,156,452
   36,034 Neurocrine Biosciences, Inc.*   3,827,171
   12,498 UnitedHealth Group, Inc.   6,311,990
         20,654,563
  Communication Services — 10.9%  
  139,790 Alphabet, Inc. - Class A*  13,370,913
   22,125 Meta Platforms, Inc. - Class A*   3,001,920
         16,372,833
  Financials — 9.9%  
   12,828 Aon PLC - Class A   3,436,236
  159,288 Charles Schwab Corp. (The)  11,448,029
         14,884,265
  Consumer Discretionary — 9.0%  
   81,845 Amazon.com, Inc.*   9,248,485
    5,750 Burlington Stores, Inc.*     643,368
    5,350 O'Reilly Automotive, Inc.*   3,762,922
         13,654,775
Shares       Market
Value
     
  Consumer Staples — 5.7%  
  129,505 Keurig Dr Pepper, Inc. $  4,638,869
   45,960 Monster Beverage Corp.*   3,996,682
          8,635,551
  Materials — 2.0%  
   10,994 Linde PLC (United Kingdom)   2,963,872
  Total Common Stocks $146,450,325
  Short-Term Investment Fund — 2.0%  
2,950,069 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω   2,950,069
  Total Investment Securities—99.1%
(Cost $121,458,620) 		$149,400,394
  Other Assets in Excess of Liabilities — 0.9%   1,406,853
  Net Assets — 100.0% $150,807,247
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
PLC – Public Limited Company
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $146,450,325 $— $— $146,450,325
Short-Term Investment Fund 2,950,069 — — 2,950,069
Total $149,400,394 $— $— $149,400,394
See accompanying Notes to Portfolios of Investments.
 
14
Portfolio of Investments
Touchstone Small Company Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 98.6%  
  Industrials — 19.9%  
    84,381 ASGN, Inc.* $  7,625,511
   173,339 Clean Harbors, Inc. *  19,063,823
    87,295 Crane Holdings Co.   7,641,804
    78,667 Curtiss-Wright Corp.  10,947,300
    93,720 EMCOR Group, Inc.  10,822,786
   101,543 ESCO Technologies, Inc.   7,457,318
   282,457 Federal Signal Corp.  10,541,295
   116,002 Forward Air Corp.  10,470,341
   649,177 Great Lakes Dredge & Dock Corp.*   4,920,762
   112,774 ITT, Inc.   7,368,653
    82,990 John Bean Technologies Corp.   7,137,140
   380,120 KBR, Inc.  16,428,786
    56,470 Quanta Services, Inc.   7,193,713
    78,848 Regal Rexnord Corp.  11,067,105
   408,923 Zurn Elkay Water Solutions Corp.  10,018,614
        148,704,951
  Health Care — 19.7%  
   678,010 Allscripts Healthcare Solutions, Inc.*  10,326,092
    76,040 Amedisys, Inc.*   7,359,912
   315,046 Anika Therapeutics, Inc.*   7,498,095
    24,998 Bio-Techne Corp.   7,099,432
    17,812 Chemed Corp.   7,776,007
   219,431 Encompass Health Corp.   9,924,864
   130,957 Ensign Group, Inc. (The)  10,411,081
   181,940 Globus Medical, Inc. - Class A*  10,838,166
   189,267 Integra LifeSciences Holdings Corp.*   8,017,350
   181,987 Merit Medical Systems, Inc.*  10,284,085
   491,230 NextGen Healthcare, Inc.*   8,694,771
   178,943 NuVasive, Inc.*   7,839,493
    88,563 Omnicell, Inc.*   7,707,638
   547,002 Premier, Inc. - Class A  18,565,248
   197,600 Progyny, Inc.*   7,323,056
   313,836 Vericel Corp.*   7,280,995
        146,946,285
  Consumer Discretionary — 16.6%  
   731,602 American Eagle Outfitters, Inc.†   7,118,487
   242,818 Aritzia, Inc. (Canada)*   7,978,795
   127,328 Fox Factory Holding Corp.*  10,069,098
   350,784 Frontdoor, Inc.*   7,152,486
   101,586 Grand Canyon Education, Inc.*   8,355,449
   572,670 Leslie's, Inc.*†   8,423,976
   309,419 Malibu Boats, Inc. - Class A*  14,849,018
    99,206 Oxford Industries, Inc.   8,906,715
   208,561 Skyline Champion Corp.*  11,026,620
   525,541 Steven Madden Ltd.  14,016,178
   124,076 Texas Roadhouse, Inc.  10,826,872
    46,281 TopBuild Corp.*   7,626,183
   329,462 Zumiez, Inc.*   7,093,317
        123,443,194
  Information Technology — 15.1%  
   127,534 Advanced Energy Industries, Inc.   9,872,407
   682,340 Box, Inc. - Class A*  16,642,273
   152,891 CommVault Systems, Inc.*   8,109,339
   248,369 Digi International, Inc.*   8,586,116
    54,442 ExlService Holdings, Inc.*   8,022,573
   568,623 KnowBe4, Inc. - Class A*  11,833,045
   133,740 MAXIMUS, Inc.   7,739,534
   230,890 Onto Innovation, Inc.*  14,788,504
    66,542 SPS Commerce, Inc.*   8,266,513
Shares       Market
Value
     
  Information Technology — (Continued)  
   223,828 Verint Systems, Inc.* $  7,516,144
   137,492 WNS Holdings Ltd. (India) ADR*  11,252,345
        112,628,793
  Financials — 12.2%  
   185,830 Banner Corp.  10,978,836
    93,722 Evercore, Inc. - Class A   7,708,635
   979,289 FNB Corp.  11,359,753
   488,650 Home BancShares, Inc.  10,999,512
   351,940 Pacific Premier Bancorp, Inc.  10,896,062
   135,823 Pinnacle Financial Partners, Inc.  11,015,245
   405,420 Webster Financial Corp.  18,324,984
   149,730 Western Alliance Bancorp   9,843,250
         91,126,277
  Real Estate — 7.6%  
   149,850 Agree Realty Corp. REIT  10,126,863
   794,394 Corporate Office Properties Trust REIT  18,453,773
   372,838 Healthcare Realty Trust, Inc. REIT   7,773,672
   582,940 Kite Realty Group Trust REIT  10,038,227
   361,951 STAG Industrial, Inc. REIT  10,290,267
         56,682,802
  Materials — 4.2%  
    81,883 Ashland, Inc.   7,776,428
    66,903 Eagle Materials, Inc.   7,170,664
   395,758 Silgan Holdings, Inc.  16,637,666
         31,584,758
  Communication Services — 2.0%  
   514,317 Cargurus, Inc.*   7,287,872
   108,442 Ziff Davis, Inc.*   7,426,108
         14,713,980
  Energy — 1.3%  
   506,220 ChampionX Corp.   9,906,725
  Total Common Stocks $735,737,765
  Short-Term Investment Funds — 3.3%  
12,068,305 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω  12,068,305
12,367,480 Invesco Government & Agency Portfolio, Institutional Class, 2.88%∞Ω**  12,367,480
  Total Short-Term Investment Funds  $24,435,785
  Total Investment Securities—101.9%
(Cost $682,433,772) 		$760,173,550
  Liabilities in Excess of Other Assets — (1.9%) (13,866,006)
  Net Assets — 100.0% $746,307,544
* Non-income producing security.
** Represents collateral for securities loaned.
† All or a portion of the security is on loan. The total market value of the securities on loan as of September 30, 2022 was $11,758,770.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
 
15
Touchstone Small Company Fund (Unaudited) (Continued)
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $735,737,765 $— $— $735,737,765
Short-Term Investment Funds 24,435,785 — — 24,435,785
Total $760,173,550 $— $— $760,173,550
See accompanying Notes to Portfolios of Investments.
16
Portfolio of Investments
Touchstone Value Fund – September 30, 2022 (Unaudited)
Shares       Market
Value
  Common Stocks — 97.5%  
  Health Care — 17.0%  
   125,544 CVS Health Corp. $ 11,973,131
    39,061 Elevance Health, Inc.  17,743,069
   101,048 Medtronic PLC   8,159,626
   213,066 Merck & Co., Inc.  18,349,244
   298,815 Perrigo Co. PLC  10,655,743
    30,636 UnitedHealth Group, Inc.  15,472,405
         82,353,218
  Financials — 16.7%  
    52,414 American Express Co.   7,071,173
   199,218 American International Group, Inc.   9,458,871
    82,608 M&T Bank Corp.  14,565,443
   103,975 Northern Trust Corp.   8,896,101
    86,615 The Allstate Corp.  10,786,166
   145,251 US Bancorp   5,856,520
   357,733 Wells Fargo & Co.  14,388,021
    47,943 Willis Towers Watson PLC   9,633,666
         80,655,961
  Energy — 12.4%  
   246,545 Halliburton Co.   6,069,938
   180,385 Hess Corp.  19,660,161
   208,250 Phillips 66  16,809,940
    56,489 Pioneer Natural Resources  12,231,563
    48,696 Valero Energy Corp.   5,203,168
         59,974,770
  Consumer Discretionary — 11.4%  
    71,206 Advance Auto Parts, Inc.  11,132,346
    43,349 Aptiv PLC*   3,390,325
   325,511 Aramark  10,155,943
    67,830 Dollar General Corp.  16,269,704
   244,317 Las Vegas Sands Corp.*   9,166,774
    23,085 Lithia Motors, Inc.   4,952,887
         55,067,979
  Industrials — 10.6%  
   130,281 AECOM   8,907,312
    44,120 Deere & Co.  14,731,227
    90,909 JB Hunt Transport Services, Inc.  14,219,986
    82,633 Stanley Black & Decker, Inc.   6,214,828
   763,095 Vertiv Holdings Co.   7,417,283
         51,490,636
  Information Technology — 8.4%  
    25,863 Broadcom, Inc.  11,483,431
   127,463 Cognizant Technology Solutions Corp. - Class A   7,321,475
   152,410 Fidelity National Information Services, Inc.  11,517,624
    88,707 Oracle Corp.   5,417,336
    46,174 QUALCOMM, Inc.   5,216,738
         40,956,604
  Materials — 8.2%  
    67,066 Air Products & Chemicals, Inc.  15,608,270
Shares       Market
Value
     
  Materials — (Continued)  
   367,442 Axalta Coating Systems Ltd. * $  7,738,329
   121,400 DuPont de Nemours, Inc.   6,118,560
   112,042 International Flavors & Fragrances, Inc.  10,176,775
         39,641,934
  Communication Services — 5.6%  
   356,262 Altice USA, Inc. - Class A*   2,077,007
   273,664 Comcast Corp. - Class A   8,026,565
    65,712 Electronic Arts, Inc.   7,603,536
    71,801 T-Mobile US, Inc.*   9,633,540
         27,340,648
  Real Estate — 2.9%  
   465,985 VICI Properties, Inc. REIT  13,909,652
  Consumer Staples — 2.5%  
   112,304 Coca-Cola Europacific Partners PLC (United Kingdom)   4,786,397
    88,311 Philip Morris International, Inc.   7,330,696
         12,117,093
  Utilities — 1.8%  
   133,295 Pinnacle West Capital Corp.   8,598,860
  Total Common Stocks $472,107,355
  Short-Term Investment Fund — 2.4%  
11,453,545 Dreyfus Government Cash Management, Institutional Shares, 2.75%∞Ω  11,453,545
  Total Investment Securities—99.9%
(Cost $468,933,505) 		$483,560,900
  Other Assets in Excess of Liabilities — 0.1%     374,010
  Net Assets — 100.0% $483,934,910
* Non-income producing security.
∞ Open-End Fund.
Ω Represents the 7-Day SEC yield as of September 30, 2022.
Portfolio Abbreviations:
PLC – Public Limited Company
REIT – Real Estate Investment Trust
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $472,107,355 $— $— $472,107,355
Short-Term Investment Fund 11,453,545 — — 11,453,545
Total $483,560,900 $— $— $483,560,900
See accompanying Notes to Portfolios of Investments.
 
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Notes to Portfolios of Investments
September 30, 2022 (Unaudited)
Security valuation and fair value measurements — U.S. generally accepted accounting principles (“U.S. GAAP”) define fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date.  All investments in securities are recorded at their fair value. The Funds define the term “market value”, as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:
•  Level 1 − quoted prices in active markets for identical securities
•  Level 2 − other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•  Level 3 − significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The aggregate value by input level, as of September 30, 2022, for each Fund’s investments, is included in each Fund’s Portfolio of Investments, which also includes a breakdown of the Fund’s investments by geographic, portfolio or sector allocation. The Funds did not hold or transfer any Level 3 categorized securities during the period ended September 30, 2022.
Changes in valuation techniques may result in transfers into or out of an investment’s assigned level within the hierarchy.
The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange (“NYSE”) (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price (“NOCP”) or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value (“NAV”) as reported by the underlying funds and are categorized in Level 1.
Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities’ terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.
Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund’s NAV. The Funds may use fair value pricing under the following circumstances, among others:
•  If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.
•  If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.
•  If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.
•  If the validity of market quotations is not reliable.
Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures approved by the Funds’ Board of Trustees and are generally categorized in Level 3.
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Notes to Portfolios of Investments (Unaudited) (Continued)
Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.
Security transactions—Security transactions are reflected for financial reporting purposes as of the trade date.
19