TIMOTHY PLAN CONSERVATIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Shares						Fair Value
				EXCHANGE-TRADED FUNDS — 47.4%
				EQUITY - 47.4%
	91,000			Timothy Plan High Dividend Stock ETF(a)		$	3,439,800
	112,144			Timothy Plan International ETF(a)			3,621,567
	75,300			Timothy Plan Market Neutral ETF(a)			1,810,400
	91,000			Timothy Plan US Large/Mid Cap Core ETF(a)			4,085,801
	99,105			Timothy Plan US Small Cap Core ETF(a)			3,833,381
							16,790,949
				TOTAL EXCHANGE-TRADED FUNDS (Cost $14,755,985)			16,790,949
				OPEN END FUNDS — 51.0%
				EQUITY - 11.7%
	281,982			Timothy Plan International Fund, Class A(a)			4,131,035
				FIXED INCOME - 39.3%
	1,274,994			Timothy Plan Fixed Income Fund, Class A(a)			11,615,195
	251,416			Timothy Plan High Yield Bond Fund, Class A(a)			2,275,312
							13,890,507
				TOTAL OPEN END FUNDS (Cost $18,692,008)			18,021,542
				SHORT-TERM INVESTMENT — 1.7%
				MONEY MARKET FUND - 1.7%
	617,054			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $617,054)			617,054
				TOTAL INVESTMENTS - 100.1% (Cost $34,065,047)		$	35,429,545
				LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%			(29,990	)
				NET ASSETS - 100.0%		$	35,399,555

ETF	- Exchange-Traded Fund

(a)	Investment in affiliate.
(b)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2%
				CHEMICALS - 1.4%
	940			Albemarle Corporation		$	58,910
	2,049			CF Industries Holdings, Inc.			188,508
	1,853			FMC Corporation			77,363
	6,014			ICL Group Ltd.			41,376
	7,069			K+S A.G.			129,557
	5,479			Mosaic Company (The)			199,874
	3,731			Nutrien Ltd.			217,293
	3,601			OCI N.V.			32,532
	3,097			Sociedad Quimica y Minera de Chile S.A. - ADR(a)			109,231
	1,773			Yara International ASA			65,443
							1,120,087
				DATA CENTER REIT - 1.2%
	5,000			Digital Realty Trust, Inc.			871,650
				ELECTRIC UTILITIES - 0.1%
	3,200			Northland Power, Inc.			50,204
				ENGINEERING & CONSTRUCTION - 0.0%(b)
	799			Technip Energies N.V.			33,635
				FOOD - 1.4%
	2,563			Adecoagro S.A.			23,426
	4,499			BRF S.A. - ADR			16,421
	853			Cal-Maine Foods, Inc.			84,984
	3,587			Darling Ingredients, Inc.(a)			136,091
	1,353			Dole plc			18,928
	564			Fresh Del Monte Produce, Inc.			18,285
	2,408			Hormel Foods Corporation			72,842
	1,385			Ingredion, Inc.			187,834
	5,900			MEIJI Holdings Company Ltd.			130,551
	2,600			Morinaga Milk Industry Company Ltd.			58,434
	5,082			Mowi ASA			98,127
	1,400			NH Foods Ltd.			48,523
	4,300			Nisshin Seifun Group, Inc.			51,425

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				FOOD - 1.4% (Continued)
	4,700			Nissui Corporation		$	28,576
	2,546			Pilgrim’s Pride Corporation			114,519
	841			Salmar ASA			36,449
							1,125,415
				FORESTRY, PAPER & WOOD PRODUCTS - 0.1%
	5,700			Sumitomo Forestry Company Ltd.			57,720
				GAS & WATER UTILITIES - 0.6%
	403			American States Water Company			30,894
	559			American Water Works Company, Inc.			77,762
	910			California Water Service Group			41,387
	4,258			Cia de Saneamento Basico do Estado de Sao Paulo - ADR			93,548
	1,577			Essential Utilities, Inc.			58,570
	1,154			Severn Trent plc			43,305
	264			SJW Group			13,720
	4,078			United Utilities Group plc			63,894
	3,246			Veolia Environnement S.A.			115,656
							538,736
				HEALTH CARE FACILITIES & SERVICES - 0.4%
	48,754			Brookdale Senior Living, Inc.(a)			339,328
				HEALTH CARE REIT - 1.7%
	17,200			American Healthcare REIT, Inc.			631,928
	46,000			Healthcare Realty Trust, Inc.			729,560
							1,361,488
				INDUSTRIAL REIT - 1.5%
	11,100			Lineage, Inc.			483,072
	20,000			Rexford Industrial Realty, Inc.			711,400
							1,194,472
				MACHINERY - 1.1%
	748			AGCO Corporation			77,164
	7,354			CNH Industrial N.V.			95,308
	758			Deere & Company			385,435
	11,900			Kubota Corporation			134,012

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				MACHINERY - 1.1% (Continued)
	1,700			Kurita Water Industries Ltd.		$	67,254
	400			Organo Corporation			24,995
	840			Weir Group plc (The)			28,709
							812,877
				METALS & MINING - 6.0%
	1,434			Agnico Eagle Mines Ltd.			170,803
	413			Agnico Eagle Mines Ltd.			49,118
	959			Alamos Gold, Inc., Class A			25,471
	471			Alcoa Corporation			13,899
	1,884			Anglo American plc			55,597
	637			Anglogold Ashanti plc			29,028
	1,391			Antofagasta plc			34,548
	513			Aurubis A.G.			53,354
	7,268			Barrick Mining Corporation			151,320
	9,240			BHP Group Ltd. - ADR			444,352
	2,095			Cameco Corporation			155,512
	17,200			Capstone Copper Corporation(a)			105,566
	8,700			Centerra Gold, Inc.			62,658
	3,247			Cia de Minas Buenaventura S.A.A. - ADR			53,316
	964			Cleveland-Cliffs, Inc.(a)			7,326
	400			Dowa Holdings Company Ltd.			12,975
	10,864			Eldorado Gold Corporation(a)			220,974
	2,100			Endeavour Mining plc			64,737
	600			First Quantum Minerals Ltd.(a)			10,656
	26			Franco-Nevada Corporation			4,262
	7,772			Freeport-McMoRan, Inc.			336,916
	1,058			Gold Fields Ltd. - ADR			25,043
	627			Harmony Gold Mining Company Ltd. - ADR			8,759
	13,716			Hecla Mining Company			82,159
	16,300			Hudbay Minerals, Inc.			172,919
	11,131			IAMGOLD Corporation(a)			81,813
	8,400			Ivanhoe Mines Ltd.(a)			63,087
	6,715			Kinross Gold Corporation			104,955
	800			Labrador Iron Ore Royalty Corporation			16,668

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				METALS & MINING - 6.0% (Continued)
	13,200			Lundin Mining Corporation		$	138,773
	2,500			Mitsubishi Materials Corporation			39,584
	2,026			MP Materials Corporation(a)			67,405
	4,359			Newmont Corporation			253,955
	7,557			NexGen Energy Ltd.(a)			52,446
	2,661			Norsk Hydro ASA			15,192
	1,459			OR Royalties, Inc.			37,511
	3,259			Pan American Silver Corporation			92,556
	5,837			Rio Tinto plc - ADR			340,472
	307			Royal Gold, Inc.			54,597
	6,049			Sandstorm Gold Ltd.			56,861
	1,830			Southern Copper Corporation			185,135
	4,900			Sumitomo Metal Mining Company Ltd.			121,114
	1,143			Teck Resources Ltd., Class B			46,211
	4,336			Teck Resources Ltd., Class B			175,088
	22,903			Vale S.A. - ADR			222,388
	219			Valterra Platinum Limited(a)			9,619
	963			Warrior Met Coal, Inc.			44,134
	1,473			Wheaton Precious Metals Corporation			132,275
							4,703,107
				OFFICE REIT - 1.7%
	4,900			Alexandria Real Estate Equities, Inc.			355,887
	5,700			BXP, Inc.			384,579
	17,500			Highwoods Properties, Inc.			544,075
							1,284,541
				OIL & GAS PRODUCERS - 5.5%
	7,597			Aker BP ASA			194,328
	247			APA Corporation			4,518
	6,300			ARC Resources Ltd.			132,789
	74,500			Baytex Energy Corporation			133,455
	1,128			Black Stone Minerals, L.P.			14,754
	6,274			Canadian Natural Resources Ltd.			197,003
	14,000			Cenovus Energy, Inc.			190,455
	969			Chord Energy Corporation			93,848

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				OIL & GAS PRODUCERS - 5.5% (Continued)
	3,830			Civitas Resources, Inc.		$	105,402
	2,443			CNX Resources Corporation(a)			82,280
	3,943			ConocoPhillips			353,844
	4,962			Coterra Energy, Inc.			125,936
	5,594			Devon Energy Corporation			177,945
	771			Diamondback Energy, Inc.			105,935
	1,525			Eni SpA - ADR			49,441
	2,294			EOG Resources, Inc.			274,384
	1,232			EQT Corporation			71,850
	6,311			Equinor ASA - ADR			158,658
	170			Hess Corporation			23,552
	900			Imperial Oil Ltd.			71,479
	11,800			Inpex Corporation			165,903
	1,920			Magnolia Oil & Gas Corporation, Class A			43,162
	3,376			Matador Resources Company			161,103
	2,000			MEG Energy Corporation			37,780
	5,150			Murphy Oil Corporation			115,875
	255			Ovintiv, Inc.			9,703
	8,071			Permian Resources Corporation			109,927
	12,064			Petroleo Brasileiro S.A. - ADR			150,921
	1,300			Peyto Exploration & Development Corporation			18,563
	2,000			PrairieSky Royalty Ltd.			34,681
	546			Range Resources Corporation			22,206
	4,459			SM Energy Company			110,182
	5,800			Suncor Energy, Inc.			217,205
	3,050			TotalEnergies S.E.			187,167
	2,700			Tourmaline Oil Corporation			130,232
	6,248			Var Energi ASA 144A(c)			20,092
	97			Viper Energy, Inc.			3,699
	13,500			Whitecap Resources, Inc.			90,687
	2,942			Woodside Energy Group Ltd. - ADR			45,395
							4,236,339
				OIL & GAS SERVICES & EQUIPMENT - 1.3%
	2,584			Archrock, Inc.			64,161

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				OIL & GAS SERVICES & EQUIPMENT - 1.3% (Continued)
	3,881			Baker Hughes Company		$	148,797
	2,140			ChampionX Corporation			53,158
	2,945			Fugro N.V.			41,383
	6,107			Halliburton Company			124,461
	5,583			Helmerich & Payne, Inc.			84,638
	9,893			Liberty Energy, Inc., Class A			113,572
	969			Noble Corp plc			25,727
	2,196			NOV, Inc.			27,296
	863			Oceaneering International, Inc.(a)			17,881
	15,254			Patterson-UTI Energy, Inc.			90,456
	4,301			Schlumberger Ltd.			145,374
	1,900			Secure Waste Infrastructure Corporation			21,719
	2,024			Tidewater, Inc.(a)			93,367
	4,187			Transocean Ltd.(a)			10,844
							1,062,834
				REAL ESTATE INVESTMENT TRUSTS - 13.5%
	20,000			American Homes 4 Rent, Class A			721,400
	4,500			American Tower Corporation, Class A			994,590
	3,900			AvalonBay Communities, Inc.			793,650
	7,700			Camden Property Trust			867,713
	1,620			Equinix, Inc.			1,288,661
	15,000			InvenTrust Properties Corporation			411,000
	378			PotlatchDeltic Corporation			14,504
	10,500			Prologis, Inc.			1,103,760
	2,000			Public Storage			586,840
	1,695			Rayonier, Inc.			37,595
	3,000			SBA Communications Corporation, Class A			704,520
	18,000			Sila Realty Trust, Inc.			426,060
	10,000			Smartstop Self Storage REIT, Inc.			362,300
	5,350			Sun Communities, Inc.			676,722
	16,000			Ventas, Inc.			1,010,400
	4,100			Welltower, Inc.			630,293
	1,049			Weyerhaeuser Company			26,949
							10,656,957

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 41.2% (Continued)
				RENEWABLE ENERGY - 0.0%(b)
	223			First Solar, Inc.(a)		$	36,915
				RESIDENTIAL REIT - 0.8%
	20,000			Invitation Homes, Inc.			656,000
				RETAIL REIT - 1.5%
	25,000			Brixmor Property Group, Inc.			651,000
	10,000			NNN REIT, Inc.			431,800
	13,000			Whitestone REIT			162,240
							1,245,040
				SELF-STORAGE REIT - 0.4%
	2,300			Extra Space Storage, Inc.			339,112
				SEMICONDUCTORS - 0.1%
	7,600			SUMCO Corporation			59,890
				STEEL - 0.7%
	2,219			ArcelorMittal S.A. - ADR			70,076
	1,091			ATI, Inc.(a)			94,196
	22,644			Gerdau S.A. - ADR			66,120
	3,200			JFE Holdings, Inc.			37,259
	3,000			Nippon Steel Corporation			56,926
	361			Nucor Corporation			46,764
	1,078			POSCO Holdings, Inc. - ADR			52,272
	59			Steel Dynamics, Inc.			7,553
	1,095			Ternium S.A. - ADR			32,960
	6,390			thyssenkrupp A.G.			68,657
							532,783
				WHOLESALE - CONSUMER STAPLES - 0.2%
	2,104			Bunge Global S.A.			168,909
				TOTAL COMMON STOCKS (Cost $30,927,882)			32,488,039

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares										Fair Value
				EXCHANGE-TRADED FUNDS — 15.0%
				EQUITY - 15.0%
	490,800			Timothy Plan Market Neutral ETF(d)						$	11,800,059
				TOTAL EXCHANGE-TRADED FUNDS (Cost $12,188,308)							11,800,059
				PRECIOUS METALS - PHYSICAL HOLDING — 25.7%
				PRECIOUS METAL - 25.7%
	6,143			GOLD BARS - XAU BGN CURRENCY(a)							20,303,969
				TOTAL PRECIOUS METALS - PHYSICAL HOLDING (Cost $7,240,876)							20,303,969
Principal Amount ($)						Coupon Rate (%)		Maturity
				U.S. GOVERNMENT & AGENCIES — 13.2%
				U.S. TREASURY INFLATION PROTECTED — 13.2%
	1,111,200			United States Treasury Inflation Indexed Bonds		2.0000		01/15/26			1,799,230
	1,270,000			United States Treasury Inflation Indexed Bonds		2.3750		01/15/27			2,054,137
	1,420,000			United States Treasury Inflation Indexed Bonds		0.5000		01/15/28			1,812,681
	575,000			United States Treasury Inflation Indexed Bonds		1.7500		01/15/28			891,862
	1,075,000			United States Treasury Inflation Indexed Bonds		0.8750		01/15/29			1,344,842
	925,000			United States Treasury Inflation Indexed Bonds		2.5000		01/15/29			1,438,362
	205,400			United States Treasury Inflation Indexed Bonds		0.1250		01/15/31			234,635
	1,175,000			United States Treasury Inflation Indexed Bonds		0.1250		02/15/51			793,855
											10,369,604
				TOTAL U.S. GOVERNMENT & AGENCIES (Cost $11,345,296)							10,369,604
Shares
				SHORT-TERM INVESTMENT — 4.8%
				MONEY MARKET FUND - 4.8%
	3,764,656			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(e) (Cost $3,764,656)							3,764,656
				TOTAL INVESTMENTS - 99.9% (Cost $65,467,018)						$	78,726,327
				OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%							104,878
				NET ASSETS - 100.0%						$	78,831,205

 

 

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

ADR	- American Depositary Receipt
AG	- Aktiengesellschaft
ASA	- Allmennaksjeselskap
ETF	- Exchange-Traded Fund
LP	- Limited Partnership
LTD	- Limited Company
NV	- Naamioze Vennootschap
PLC	- Public Limited Company
REIT	- Real Estate Investment Trust
SA	- Société Anonyme
SAA	- Sociedad Anónima Abierta
SE	- Societas Europaea

(a)	Non-income producing security.
(b)	Percentage rounds to less than 0.1%.
(c)	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 June 30, 2025, the total market value of 144A securities is $20,092 or 0.0% of net assets.
(d)	Investment in affiliate.
(e)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				ASSET BACKED SECURITIES — 4.6%
				CLO — 1.5%
	1,665,000			Kubota Credit Owner Trust 2025-2 Series 2A A3(a)		4.4200		09/17/29		$	1,674,379
				OTHER ABS — 3.1%
	1,115,000			CNH Equipment Trust 2025-A Series A A3		4.3600		08/15/30			1,123,808
	2,320,000			John Deere Owner Trust 2025 Series A A3		4.2300		09/17/29			2,327,886
											3,451,694
				TOTAL ASSET BACKED SECURITIES (Cost $5,099,746)							5,126,073
				CORPORATE BONDS — 27.9%
				CHEMICALS — 2.1%
	1,570,000			Nutrien Ltd.		4.0000		12/15/26			1,560,944
	805,000			Nutrien Ltd.		2.9500		05/13/30			748,937
											2,309,881
				COMMERCIAL SUPPORT SERVICES — 0.8%
	450,000			Republic Services, Inc.		5.0000		04/01/34			456,913
	450,000			Waste Management, Inc.		4.6250		02/15/33			450,970
											907,883
				ELECTRIC UTILITIES — 3.2%
	2,205,000			American Electric Power Company, Inc.		3.2000		11/13/27			2,151,522
	1,000,000			Electricite de France S.A.(a)		5.7000		05/23/28			1,030,293
	405,000			National Rural Utilities Cooperative Finance Corporation		5.0500		09/15/28			414,454
											3,596,269
				GAS & WATER UTILITIES — 1.9%
	2,185,000			NiSource, Inc.		3.4900		05/15/27			2,152,005
				INSTITUTIONAL FINANCIAL SERVICES — 0.9%
	1,000,000			Cboe Global Markets, Inc.		3.6500		01/12/27			992,252
				MACHINERY — 1.6%
	900,000			Caterpillar Financial Services Corporation		4.3500		05/15/26			900,629
	900,000			John Deere Capital Corporation		3.9000		06/07/32			867,388
											1,768,017

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 27.9% (Continued)
				METALS & MINING — 3.5%
	925,000			BHP Billiton Finance USA Ltd.		5.1250		02/21/32		$	947,826
	1,430,000			BHP Billiton Finance USA Ltd.		5.2500		09/08/33			1,465,007
	930,000			Rio Tinto Finance USA plc		5.0000		03/14/32			946,615
	450,000			Rio Tinto Finance USA plc		5.0000		03/09/33			457,121
											3,816,569
				OIL & GAS PRODUCERS — 4.9%
	1,815,000			Columbia Pipelines Holding Company, LLC(a)		6.0420		08/15/28			1,889,265
	1,150,000			Energy Transfer, L.P.		5.6000		09/01/34			1,168,852
	1,980,000			Energy Transfer, L.P.		6.2500		04/15/49			1,957,905
	450,000			Enterprise Products Operating, LLC		5.3500		01/31/33			466,300
											5,482,322
				REAL ESTATE INVESTMENT TRUSTS — 4.1%
	930,000			American Tower Corporation		5.3500		03/15/35			946,737
	1,520,000			Digital Realty Trust, L.P.		3.7000		08/15/27			1,501,259
	2,200,000			Healthpeak Properties, Inc.		3.5000		07/15/29			2,125,153
											4,573,149
				RETAIL - CONSUMER STAPLES — 1.4%
	1,575,000			Dollar General Corporation		4.1250		05/01/28			1,564,297
				RETAIL - DISCRETIONARY — 1.6%
	1,795,000			Tractor Supply Company		5.2500		05/15/33			1,833,674
				TRANSPORTATION & LOGISTICS — 1.9%
	2,190,000			CSX Corporation		3.2500		06/01/27			2,155,591
				TOTAL CORPORATE BONDS (Cost $31,290,934)							31,151,909
				NON U.S. GOVERNMENT & AGENCIES — 4.5%
				LOCAL AUTHORITY — 2.0%
	2,235,000			Province of Ontario Canada		2.5000		04/27/26			2,205,636

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				NON U.S. GOVERNMENT & AGENCIES — 4.5% (Continued)
				SOVEREIGN — 2.5%
	1,800,000			Israel Government International Bond		5.5000		03/12/34		$	1,824,496
	1,000,000			Mexico Government International Bond		6.8750		05/13/37			1,045,055
											2,869,551
				TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $5,019,081)							5,075,187
				U.S. GOVERNMENT & AGENCIES — 60.4%
				AGENCY FIXED RATE — 38.1%
	992,393			Fannie Mae Pool FM5537		2.0000		01/01/36			912,627
	733,255			Fannie Mae Pool MA4316		2.5000		04/01/36			686,620
	584,980			Fannie Mae Pool MA4366		2.5000		06/01/41			523,713
	342,873			Fannie Mae Pool MA4475		2.5000		10/01/41			306,108
	975,176			Fannie Mae Pool MA4617		3.0000		04/01/42			888,363
	813,137			Fannie Mae Pool FM4053		2.5000		08/01/50			684,504
	1,108,738			Fannie Mae Pool CA8897		3.0000		02/01/51			975,969
	678,281			Fannie Mae Pool MA4258		3.5000		02/01/51			617,874
	386,791			Fannie Mae Pool FM6550		2.0000		03/01/51			311,377
	681,888			Fannie Mae Pool CB0855		3.0000		06/01/51			595,506
	1,313,911			Fannie Mae Pool FS3744		2.0000		07/01/51			1,048,760
	405,914			Fannie Mae Pool FS1807		3.5000		07/01/51			369,852
	1,336,383			Fannie Mae Pool CB1384		2.5000		08/01/51			1,122,630
	717,776			Fannie Mae Pool FS9085		3.0000		12/01/51			623,494
	1,191,874			Fannie Mae Pool FS6141		2.0000		01/01/52			953,096
	297,077			Fannie Mae Pool BU1322		2.5000		02/01/52			249,709
	834,857			Fannie Mae Pool CB3486		3.5000		05/01/52			755,059
	435,859			Fannie Mae Pool FS1704		4.0000		05/01/52			408,870
	718,031			Fannie Mae Pool BV9960		4.0000		06/01/52			672,230
	788,561			Fannie Mae Pool FS3159		4.5000		10/01/52			758,717
	1,182,955			Fannie Mae Pool FS4075		5.0000		04/01/53			1,168,557
	1,122,247			Fannie Mae Pool FS5044		4.5000		06/01/53			1,086,444
	268,520			Fannie Mae Pool FS4621		5.0000		06/01/53			266,385
	1,627,390			Fannie Mae Pool MA5039		5.5000		06/01/53			1,630,755
	872,980			Fannie Mae Pool FS8291		5.5000		07/01/53			880,320

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				U.S. GOVERNMENT & AGENCIES — 60.4% (Continued)
				AGENCY FIXED RATE — 38.1% (Continued)
	1,035,725			Fannie Mae Pool FS6787		6.0000		01/01/54		$	1,063,960
	1,046,441			Fannie Mae Pool CB7980		5.5000		02/01/54			1,053,728
	250,041			Fannie Mae Pool FS8138		6.5000		06/01/54			260,716
	1,065,098			Fannie Mae Pool FS9456		5.5000		11/01/54			1,068,563
	45,684			Ginnie Mae I Pool 723248		5.0000		10/15/39			46,314
	195,870			Ginnie Mae I Pool 783060		4.0000		08/15/40			185,935
	107,226			Ginnie Mae I Pool 783403		3.5000		09/15/41			100,023
	84,422			Ginnie Mae II Pool 4520		5.0000		08/20/39			85,506
	113,259			Ginnie Mae II Pool 4947		5.0000		02/20/41			113,756
	207,425			Ginnie Mae II Pool MA3376		3.5000		01/20/46			192,901
	131,451			Ginnie Mae II Pool MA3596		3.0000		04/20/46			118,050
	350,380			Ginnie Mae II Pool MA3663		3.5000		05/20/46			325,844
	126,432			Ginnie Mae II Pool MA3736		3.5000		06/20/46			117,513
	219,221			Ginnie Mae II Pool MA4004		3.5000		10/20/46			203,305
	146,036			Ginnie Mae II Pool MA4509		3.0000		06/20/47			130,904
	175,558			Ginnie Mae II Pool MA4652		3.5000		08/20/47			162,101
	214,490			Ginnie Mae II Pool MA4719		3.5000		09/20/47			197,321
	220,658			Ginnie Mae II Pool MA4778		3.5000		10/20/47			203,699
	174,813			Ginnie Mae II Pool MA4901		4.0000		12/20/47			164,698
	151,077			Ginnie Mae II Pool MA4963		4.0000		01/20/48			142,243
	142,284			Ginnie Mae II Pool MA6092		4.5000		08/20/49			137,533
	150,909			Ginnie Mae II Pool MA6156		4.5000		09/20/49			146,295
	567,084			Ginnie Mae II Pool BN2662		3.0000		10/20/49			502,530
	140,402			Ginnie Mae II Pool MA6221		4.5000		10/20/49			136,426
	142,658			Ginnie Mae II Pool MA6477		4.5000		02/20/50			138,681
	222,077			Ginnie Mae II Pool MA6478		5.0000		02/20/50			221,818
	223,993			Ginnie Mae II Pool MA6544		4.5000		03/20/50			217,587
	157,808			Ginnie Mae II Pool MA6545		5.0000		03/20/50			157,640
	940,412			Ginnie Mae II Pool MA6598		2.5000		04/20/50			803,375
	230,694			Ginnie Mae II Pool MA6600		3.5000		04/20/50			211,260
	194,137			Ginnie Mae II Pool MA6601		4.0000		04/20/50			182,176
	179,769			Ginnie Mae II Pool MA6603		5.0000		04/20/50			179,536
	841,971			Ginnie Mae II Pool MA7255		2.5000		03/20/51			717,391
	622,061			Ginnie Mae II Pool MA7418		2.5000		06/20/51			529,848

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				U.S. GOVERNMENT & AGENCIES — 60.4% (Continued)
				AGENCY FIXED RATE — 38.1% (Continued)
	1,032,390			Ginnie Mae II Pool MA7419		3.0000		06/20/51		$	914,261
	937,572			Ginnie Mae II Pool MA7472		2.5000		07/20/51			798,586
	1,103,897			Ginnie Mae II Pool CE1974		3.0000		08/20/51			989,184
	1,016,463			Ginnie Mae II Pool CE1990		2.5000		09/20/51			865,156
	1,105,302			Ginnie Mae II Pool MA7705		2.5000		11/20/51			941,443
	1,169,821			Ginnie Mae II Pool MA7768		3.0000		12/20/51			1,035,243
	883,311			Ginnie Mae II Pool MA7829		3.5000		01/20/52			805,983
	858,542			Ginnie Mae II Pool MA7939		4.0000		03/20/52			802,506
	979,873			Ginnie Mae II Pool MA7987		2.5000		04/20/52			834,603
	930,980			Ginnie Mae II Pool MA8268		4.5000		09/20/52			899,228
	953,954			Ginnie Mae II Pool MA8800		5.0000		04/20/53			943,016
	1,128,067			Ginnie Mae II Pool MA8874		3.0000		05/20/53			1,008,016
	1,130,735			Ginnie Mae II Pool MA8943		3.0000		06/20/53			1,000,615
	857,801			Ginnie Mae II Pool MA9017		5.5000		07/20/53			863,545
	900,934			Ginnie Mae II Pool MB0091		5.0000		12/20/54			885,812
	219,505			Ginnie Mae II Pool MB0366		5.5000		05/20/55			219,929
											42,523,841
				U.S. TREASURY BILLS — 22.3%
	2,210,000			United States Treasury Note		4.8750		04/30/26			2,224,057
	2,030,000			United States Treasury Note		4.6250		04/30/29			2,093,675
	520,000			United States Treasury Note		4.6250		04/30/31			539,967
	8,930,000			United States Treasury Note		4.3750		05/15/34			9,073,368
	3,430,000			United States Treasury Note		4.5000		02/15/44			3,319,195
	7,925,000			United States Treasury Note		4.6250		05/15/54			7,711,706
											24,961,968
				TOTAL U.S. GOVERNMENT & AGENCIES (Cost $71,046,366)							67,485,809

 

 

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				SHORT-TERM INVESTMENT — 2.0%
				MONEY MARKET FUND - 2.0%
	2,231,811			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $2,231,811)		$	2,231,811
				TOTAL INVESTMENTS - 99.4% (Cost $114,687,938)		$	111,070,789
				OTHER ASSETS IN EXCESS OF LIABILITIES - 0.6%			633,547
				NET ASSETS - 100.0%		$	111,704,336

LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
PLC	- Public Limited Company
SA	- 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 June 30, 2025, the total market value of 144A securities is 4,593,937 or 4.1% of net assets.
(b)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Shares										Fair Value
				EXCHANGE-TRADED FUND — 52.0%
				EQUITY - 52.0%
	255,000			Timothy Plan High Dividend Stock ETF(a)						$	9,639,000
				TOTAL EXCHANGE-TRADED FUND (Cost $8,730,563)							9,639,000
Principal Amount ($)						Coupon Rate (%)		Maturity
				ASSET BACKED SECURITIES — 2.2%
				CLO — 0.7%
	135,000			Kubota Credit Owner Trust 2025-2 Series 2A A3(b)		4.4200		09/17/29			135,422
				OTHER ABS — 1.5%
	85,000			CNH Equipment Trust 2025-A Series A A3		4.3600		08/15/30			85,572
	180,000			John Deere Owner Trust 2025 Series A A3		4.2300		09/17/29			180,421
											265,993
				TOTAL ASSET BACKED SECURITIES (Cost $399,980)							401,415
				CORPORATE BONDS — 10.9%
				CHEMICALS — 0.8%
	85,000			Nutrien Ltd.		4.0000		12/15/26			84,458
	60,000			Nutrien Ltd.		2.9500		05/13/30			55,789
											140,247
				COMMERCIAL SUPPORT SERVICES — 0.5%
	35,000			Republic Services, Inc.		5.0000		04/01/34			35,521
	50,000			Waste Management, Inc.		4.6250		02/15/33			50,084
											85,605
				ELECTRIC UTILITIES — 1.1%
	135,000			American Electric Power Company, Inc.		3.2000		11/13/27			131,672
	70,000			National Rural Utilities Cooperative Finance Corporation		5.0500		09/15/28			71,600
											203,272
				GAS & WATER UTILITIES — 0.7%
	130,000			NiSource, Inc.		3.4900		05/15/27			127,970

 

 

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 10.9% (Continued)
				INSTITUTIONAL FINANCIAL SERVICES — 0.3%
	55,000			Cboe Global Markets, Inc.		3.6500		01/12/27		$	54,548
				MACHINERY — 0.6%
	55,000			Caterpillar Financial Services Corporation		4.3500		05/15/26			55,028
	55,000			John Deere Capital Corporation		3.9000		06/07/32			52,971
											107,999
				METALS & MINING — 1.6%
	75,000			BHP Billiton Finance USA Ltd.		5.1250		02/21/32			76,793
	85,000			BHP Billiton Finance USA Ltd.		5.2500		09/08/33			87,042
	70,000			Rio Tinto Finance USA plc		5.0000		03/14/32			71,213
	70,000			Rio Tinto Finance USA plc		5.0000		03/09/33			71,000
											306,048
				OIL & GAS PRODUCERS — 2.1%
	115,000			Columbia Pipelines Holding Company, LLC(b)		6.0420		08/15/28			119,667
	70,000			Energy Transfer, L.P.		5.6000		09/01/34			71,112
	120,000			Energy Transfer, L.P.		6.2500		04/15/49			118,528
	70,000			Enterprise Products Operating, LLC		5.3500		01/31/33			72,506
											381,813
				REAL ESTATE INVESTMENT TRUSTS — 1.5%
	70,000			American Tower Corporation		5.3500		03/15/35			71,231
	95,000			Digital Realty Trust, L.P.		3.7000		08/15/27			93,790
	120,000			Healthpeak Properties, Inc.		3.5000		07/15/29			115,839
											280,860
				RETAIL - CONSUMER STAPLES — 0.5%
	95,000			Dollar General Corporation		4.1250		05/01/28			94,249
				RETAIL - DISCRETIONARY — 0.6%
	110,000			Tractor Supply Company		5.2500		05/15/33			112,310
				TRANSPORTATION & LOGISTICS — 0.6%
	130,000			CSX Corporation		3.2500		06/01/27			127,873
				TOTAL CORPORATE BONDS (Cost $2,000,671)							2,022,794

 

 

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				NON U.S. GOVERNMENT & AGENCIES — 1.8%
				LOCAL AUTHORITY — 0.7%
	135,000			Province of Ontario Canada		2.5000		04/27/26		$	133,180
				SOVEREIGN — 1.1%
	200,000			Israel Government International Bond		5.5000		03/12/34			202,322
				TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $326,888)							335,502
				U.S. GOVERNMENT & AGENCIES — 32.4%
				AGENCY FIXED RATE — 16.3%
	88,213			Fannie Mae Pool FM5537		2.0000		01/01/36			81,060
	56,917			Fannie Mae Pool MA4316		2.5000		04/01/36			53,261
	17,674			Fannie Mae Pool MA4475		2.5000		10/01/41			15,768
	51,911			Fannie Mae Pool MA4617		3.0000		04/01/42			47,257
	40,512			Fannie Mae Pool FM4053		2.5000		08/01/50			34,078
	45,255			Fannie Mae Pool CA8897		3.0000		02/01/51			39,807
	6,306			Fannie Mae Pool MA4258		3.5000		02/01/51			5,741
	17,907			Fannie Mae Pool FM6550		2.0000		03/01/51			14,403
	33,486			Fannie Mae Pool CB0855		3.0000		06/01/51			29,223
	55,457			Fannie Mae Pool FS3744		2.0000		07/01/51			44,227
	86,734			Fannie Mae Pool FS1807		3.5000		07/01/51			78,981
	127,992			Fannie Mae Pool CB1384		2.5000		08/01/51			107,438
	61,389			Fannie Mae Pool FS9085		3.0000		12/01/51			53,287
	28,487			Fannie Mae Pool BU1322		2.5000		02/01/52			23,927
	90,477			Fannie Mae Pool CB3486		3.5000		05/01/52			81,780
	60,641			Fannie Mae Pool FS1704		4.0000		05/01/52			56,853
	83,889			Fannie Mae Pool FS3159		4.5000		10/01/52			80,669
	76,973			Fannie Mae Pool FS4075		5.0000		04/01/53			75,994
	88,598			Fannie Mae Pool FS5044		4.5000		06/01/53			85,723
	128,043			Fannie Mae Pool MA5039		5.5000		06/01/53			128,239
	86,389			Fannie Mae Pool FS8291		5.5000		07/01/53			87,068
	81,655			Fannie Mae Pool FS6787		6.0000		01/01/54			83,836
	90,995			Fannie Mae Pool CB7980		5.5000		02/01/54			91,579

 

 

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				U.S. GOVERNMENT & AGENCIES — 32.4% (Continued)
				AGENCY FIXED RATE — 16.3% (Continued)
	25,428			Fannie Mae Pool FS8138		6.5000		06/01/54		$	26,496
	84,831			Fannie Mae Pool FS9456		5.5000		11/01/54			85,060
	39,562			Ginnie Mae I Pool 723248		5.0000		10/15/39			40,085
	40,967			Ginnie Mae I Pool 783403		3.5000		09/15/41			38,192
	36,900			Ginnie Mae II Pool MA3376		3.5000		01/20/46			34,296
	27,337			Ginnie Mae II Pool MA3596		3.0000		04/20/46			24,533
	23,359			Ginnie Mae II Pool MA3663		3.5000		05/20/46			21,710
	30,440			Ginnie Mae II Pool MA3736		3.5000		06/20/46			28,276
	10,351			Ginnie Mae II Pool MA4509		3.0000		06/20/47			9,272
	29,144			Ginnie Mae II Pool MA4652		3.5000		08/20/47			26,894
	27,299			Ginnie Mae II Pool MA4719		3.5000		09/20/47			25,099
	52,314			Ginnie Mae II Pool MA4778		3.5000		10/20/47			48,265
	19,541			Ginnie Mae II Pool MA6092		4.5000		08/20/49			18,878
	14,849			Ginnie Mae II Pool MA6156		4.5000		09/20/49			14,387
	39,696			Ginnie Mae II Pool BN2662		3.0000		10/20/49			35,152
	16,224			Ginnie Mae II Pool MA6221		4.5000		10/20/49			15,756
	14,352			Ginnie Mae II Pool MA6478		5.0000		02/20/50			14,327
	17,341			Ginnie Mae II Pool MA6544		4.5000		03/20/50			16,836
	11,123			Ginnie Mae II Pool MA6545		5.0000		03/20/50			11,105
	17,918			Ginnie Mae II Pool MA6600		3.5000		04/20/50			16,399
	16,178			Ginnie Mae II Pool MA6601		4.0000		04/20/50			15,173
	21,465			Ginnie Mae II Pool MA6603		5.0000		04/20/50			21,425
	40,507			Ginnie Mae II Pool MA7255		2.5000		03/20/51			34,488
	32,913			Ginnie Mae II Pool MA7418		2.5000		06/20/51			28,014
	95,969			Ginnie Mae II Pool MA7419		3.0000		06/20/51			84,928
	102,281			Ginnie Mae II Pool MA7472		2.5000		07/20/51			87,055
	93,551			Ginnie Mae II Pool CE1974		3.0000		08/20/51			83,771
	69,959			Ginnie Mae II Pool CE1990		2.5000		09/20/51			59,501
	114,829			Ginnie Mae II Pool MA7768		3.0000		12/20/51			101,547
	48,046			Ginnie Mae II Pool MA7829		3.5000		01/20/52			43,814
	62,640			Ginnie Mae II Pool MA7939		4.0000		03/20/52			58,518
	100,416			Ginnie Mae II Pool MA8800		5.0000		04/20/53			99,210
	106,869			Ginnie Mae II Pool MA8874		3.0000		05/20/53			95,429
	90,616			Ginnie Mae II Pool MA8943		3.0000		06/20/53			80,132

 

 

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Coupon Rate (%)		Maturity		Fair Value
				U.S. GOVERNMENT & AGENCIES — 32.4% (Continued)
				AGENCY FIXED RATE — 16.3% (Continued)
	84,971			Ginnie Mae II Pool MA9017		5.5000		07/20/53		$	85,493
	68,924			Ginnie Mae II Pool MB0091		5.0000		12/20/54			67,745
	24,944			Ginnie Mae II Pool MB0366		5.5000		05/20/55			24,984
											3,022,444
				U.S. TREASURY BILLS — 16.1%
	325,000			United States Treasury Note		4.8750		04/30/26			327,041
	110,000			United States Treasury Note		4.6250		04/30/29			113,425
	675,000			United States Treasury Note		4.6250		04/30/31			700,760
	880,000			United States Treasury Note		4.3750		05/15/34			893,852
	320,000			United States Treasury Note		4.5000		02/15/44			309,563
	650,000			United States Treasury Note		4.6250		05/15/54			632,303
											2,976,944
				TOTAL U.S. GOVERNMENT & AGENCIES (Cost $6,185,796)							5,999,388
Shares
				SHORT-TERM INVESTMENT — 0.6%
				MONEY MARKET FUND - 0.6%
	118,800			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(c) (Cost $118,800)							118,800
				TOTAL INVESTMENTS - 99.9% (Cost $17,762,698)						$	18,516,899
				OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%							20,983
				NET ASSETS - 100.0%						$	18,537,882

ETF	- Exchange-Traded Fund
LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
PLC	- Public Limited Company

(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 June 30, 2025, the total market value of 144A securities is 255,089 or 1.4% of net assets.
(b)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8%
				AEROSPACE & DEFENSE — 2.0%
	1,165,000			Goat Holdco, LLC(a)				6.7500		02/01/32		$	1,185,358
	2,000,000			TransDigm, Inc.(a)				6.3750		03/01/29			2,052,279
	1,250,000			TransDigm, Inc.(a)				6.8750		12/15/30			1,299,151
													4,536,788
				APPAREL & TEXTILE PRODUCTS — 0.1%
	300,000			Beach Acquisition Bidco, LLC(a)				10.0000		07/15/33			311,613
				ASSET MANAGEMENT — 0.7%
	1,600,000			AG TTMT Escrow Issuer, LLC(a)				8.6250		09/30/27			1,657,854
				AUTOMOTIVE — 6.6%
	3,500,000			Adient Global Holdings Ltd.(a)				8.2500		04/15/31			3,680,704
	2,705,000			Adient Global Holdings Ltd.(a)				7.5000		02/15/33			2,768,508
	5,620,000			Aptiv plc / Aptiv Global Financing DAC(b)		H15T5Y + 3.385%		6.8750		12/15/54			5,683,366
	2,500,000			Goodyear Tire & Rubber Company (The)				5.6250		04/30/33			2,391,487
													14,524,065
				CHEMICALS — 8.2%
	1,750,000			Avient Corporation(a)				7.1250		08/01/30			1,810,062
	1,145,000			Avient Corporation(a)				6.2500		11/01/31			1,155,887
	1,000,000			Axalta Coating Systems, LLC(a)				3.3750		02/15/29			946,587
	2,500,000			Chemours Company (The)(a)				4.6250		11/15/29			2,177,995
	2,565,000			Chemours Company (The)(a)				8.0000		01/15/33			2,403,758
	1,860,000			INEOS Finance plc(a)				7.5000		04/15/29			1,868,536
	5,065,000			Mativ Holdings, Inc.(a)				8.0000		10/01/29			4,594,925
	2,500,000			WR Grace Holdings, LLC(a)				5.6250		08/15/29			2,263,313
	1,000,000			WR Grace Holdings, LLC(a)				7.3750		03/01/31			1,024,265
													18,245,328
				COMMERCIAL SUPPORT SERVICES — 9.3%
	2,310,000			Allied Universal Holdco, LLC(a)				7.8750		02/15/31			2,416,399
	2,325,000			Allied Universal Holdco, LLC / Allied Universal Finance Corporation(a)				6.8750		06/15/30			2,359,153
	125,000			Allied Universal Holdco, LLC/Allied Universal Finance Corporation(a)				4.6250		06/01/28			121,301
	1,625,000			Clean Harbors, Inc.(a)				6.3750		02/01/31			1,665,711
	1,750,000			Covanta Holding Corporation				5.0000		09/01/30			1,657,670
	5,600,000			Enviri Corporation(a)				5.7500		07/31/27			5,532,029

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8% (Continued)
				COMMERCIAL SUPPORT SERVICES — 9.3% (Continued)
	1,500,000			GFL Environmental, Inc.(a)				6.7500		01/15/31		$	1,571,556
	1,000,000			VT Topco, Inc.(a)				8.5000		08/15/30			1,055,106
	3,225,000			Waste Pro USA, Inc.(a)				7.0000		02/01/33			3,355,155
	1,000,000			Williams Scotsman, Inc.(a)				6.6250		06/15/29			1,027,173
													20,761,253
				CONSTRUCTION MATERIALS — 0.5%
	660,000			Quikrete Holdings, Inc.(a)				6.3750		03/01/32			680,098
	335,000			Standard Industries, Inc.(a)				6.5000		08/15/32			343,487
													1,023,585
				CONSUMER SERVICES — 3.1%
	3,592,000			PROG Holdings, Inc.(a)				6.0000		11/15/29			3,452,214
	3,500,000			Upbound Group, Inc.(a)				6.3750		02/15/29			3,446,229
													6,898,443
				CONTAINERS & PACKAGING — 5.9%
	875,000			Ardagh Metal Packaging Finance USA, LLC / Ardagh Metal Packaging Finance plc(a)				6.0000		06/15/27			878,310
	2,500,000			Ardagh Metal Packaging Finance USA, LLC / Ardagh Metal Packaging Finance plc(a)				4.0000		09/01/29			2,284,840
	1,000,000			Canpack S.A. / Canpack US, LLC(a)				3.8750		11/15/29			935,691
	500,000			Graham Packaging Company, Inc.(a)				7.1250		08/15/28			499,471
	1,250,000			Graphic Packaging International, LLC(a)				3.7500		02/01/30			1,172,569
	1,250,000			LABL, Inc.(a)				5.8750		11/01/28			1,095,445
	625,000			LABL, Inc.(a)				9.5000		11/01/28			578,593
	1,000,000			LABL, Inc.(a)				8.2500		11/01/29			831,979
	2,550,000			Mauser Packaging Solutions Holding Company(a)				7.8750		04/15/27			2,595,443
	1,750,000			TriMas Corporation(a)				4.1250		04/15/29			1,662,793
	300,000			Trivium Packaging Finance BV(a)				8.2500		07/15/30			317,470
	300,000			Trivium Packaging Finance BV(a)				12.2500		01/15/31			321,811
													13,174,415
				ELECTRIC UTILITIES — 2.4%
	2,910,000			Alpha Generation, LLC(a)				6.7500		10/15/32			3,000,291
	2,000,000			Vistra Corporation(a)(b)		H15T5Y + 5.740%		7.0000		06/15/70			2,025,356
	250,000			Vistra Operations Company, LLC(a)				4.3750		05/01/29			243,856
													5,269,503

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8% (Continued)
				ELECTRICAL EQUIPMENT — 2.5%
	1,000,000			BWX Technologies, Inc.(a)				4.1250		06/30/28		$	975,549
	1,000,000			BWX Technologies, Inc.(a)				4.1250		04/15/29			964,880
	700,000			Gates Corporation (The)(a)				6.8750		07/01/29			727,732
	1,360,000			WESCO Distribution, Inc.(a)				6.3750		03/15/29			1,401,030
	1,360,000			WESCO Distribution, Inc.(a)				6.6250		03/15/32			1,409,257
													5,478,448
				HEALTH CARE FACILITIES & SERVICES — 3.2%
	1,835,000			Concentra Escrow Issuer Corporation(a)				6.8750		07/15/32			1,902,186
	2,820,000			HAH Group Holding Company, LLC(a)				9.7500		10/01/31			2,797,802
	1,750,000			Pediatrix Medical Group, Inc.(a)				5.3750		02/15/30			1,728,992
	750,000			Tenet Healthcare Corporation				6.1250		10/01/28			751,401
													7,180,381
				HOME CONSTRUCTION — 4.4%
	500,000			Ashton Woods USA, LLC / Ashton Woods Finance Company(a)				6.6250		01/15/28			502,344
	1,750,000			Ashton Woods USA, LLC / Ashton Woods Finance Company(a)				4.6250		08/01/29			1,674,538
	1,000,000			Ashton Woods USA, LLC / Ashton Woods Finance Company(a)				4.6250		04/01/30			954,627
	4,042,000			Interface, Inc.(a)				5.5000		12/01/28			3,987,516
	680,000			STL Holding Company, LLC(a)				8.7500		02/15/29			712,939
	2,023,000			Weekley Homes, LLC / Weekley Finance Corporation(a)				4.8750		09/15/28			1,957,869
													9,789,833
				HOUSEHOLD PRODUCTS — 0.5%
	1,000,000			Energizer Holdings, Inc.(a)				6.5000		12/31/27			1,012,321
				INSTITUTIONAL FINANCIAL SERVICES — 0.9%
	1,750,000			Aretec Group, Inc.(a)				10.0000		08/15/30			1,925,430
				INSURANCE — 2.3%
	1,000,000			Acrisure, LLC / Acrisure Finance, Inc.(a)				7.5000		11/06/30			1,033,659
	1,000,000			Acrisure, LLC / Acrisure Finance, Inc.(a)				6.7500		07/01/32			1,014,896
	1,075,000			Baldwin Insurance Group Holdings, LLC / Baldwin Insurance Group Holdings Finance(a)				7.1250		05/15/31			1,118,197
	1,000,000			HUB International Ltd.(a)				7.2500		06/15/30			1,045,355
	1,000,000			Ryan Specialty, LLC(a)				5.8750		08/01/32			1,008,505
													5,220,612

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8% (Continued)
				MACHINERY — 0.7%
	1,000,000			Esab Corporation(a)				6.2500		04/15/29		$	1,025,121
	500,000			SPX FLOW, Inc.(a)				8.7500		04/01/30			519,553
													1,544,674
				MEDICAL EQUIPMENT & DEVICES — 1.7%
	750,000			Bausch & Lomb Escrow Corporation(a)				8.3750		10/01/28			783,750
	325,000			Insulet Corporation(a)				6.5000		04/01/33			337,915
	2,500,000			Sotera Health Holdings, LLC(a)				7.3750		06/01/31			2,604,232
													3,725,897
				METALS & MINING — 0.8%
	2,000,000			Kaiser Aluminum Corporation(a)				4.5000		06/01/31			1,871,625
				OIL & GAS PRODUCERS — 7.0%
	2,022,000			CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC(a)				5.5000		06/15/31			1,999,328
	2,000,000			CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC(a)				7.5000		12/15/33			2,177,988
	500,000			Genesis Energy, L.P. / Genesis Energy Finance Corporation				7.7500		02/01/28			507,758
	600,000			Genesis Energy, L.P. / Genesis Energy Finance Corporation				8.2500		01/15/29			627,805
	750,000			Genesis Energy, L.P. / Genesis Energy Finance Corporation				8.8750		04/15/30			797,102
	3,500,000			Global Partners, L.P. / GLP Finance Corporation(a)				8.2500		01/15/32			3,682,825
	2,075,000			ITT Holdings, LLC(a)				6.5000		08/01/29			1,975,043
	2,000,000			NuStar Logistics, L.P.				5.6250		04/28/27			2,018,502
	1,750,000			Permian Resources Operating, LLC(a)				5.8750		07/01/29			1,757,903
	100,000			Permian Resources Operating, LLC(a)				7.0000		01/15/32			103,730
													15,647,984
				REAL ESTATE INVESTMENT TRUSTS — 1.5%
	1,170,000			MPT Operating Partnership, L.P. / MPT Finance Corporation(a)				8.5000		02/15/32			1,224,502
	750,000			Service Properties Trust				5.5000		12/15/27			743,567
	1,375,000			Service Properties Trust(a)				8.6250		11/15/31			1,477,043
													3,445,112
				REAL ESTATE OWNERS & DEVELOPERS — 2.0%
	1,500,000			Greystar Real Estate Partners, LLC(a)				7.7500		09/01/30			1,593,162
	2,999,000			Howard Hughes Corporation (The)(a)				4.3750		02/01/31			2,769,416
													4,362,578

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8% (Continued)
				REAL ESTATE SERVICES — 0.5%
	1,000,000			Newmark Group, Inc.				7.5000		01/12/29		$	1,058,478
				RETAIL - CONSUMER STAPLES — 0.5%
	1,250,000			Ingles Markets, Inc.(a)				4.0000		06/15/31			1,163,323
				RETAIL - DISCRETIONARY — 4.7%
	1,250,000			Builders FirstSource, Inc.(a)				6.3750		03/01/34			1,275,289
	1,618,000			Champions Financing, Inc.(a)				8.7500		02/15/29			1,563,869
	1,065,000			Cougar JV Subsidiary, LLC(a)				8.0000		05/15/32			1,135,674
	2,000,000			Ken Garff Automotive, LLC(a)				4.8750		09/15/28			1,977,229
	1,000,000			Lithia Motors, Inc.(a)				4.3750		01/15/31			951,229
	1,600,000			Queen MergerCo, Inc.(a)				6.7500		04/30/32			1,651,443
	2,050,000			Sonic Automotive, Inc.(a)				4.8750		11/15/31			1,949,507
													10,504,240
				SOFTWARE — 0.5%
	1,000,000			UKG, Inc.(a)				6.8750		02/01/31			1,038,198
				SPECIALTY FINANCE — 14.1%
	1,000,000			AerCap Ireland Capital DAC / Aercap Global Aviation Trust(b)		H15T5Y + 2.720%		6.9500		03/10/55			1,040,432
	3,000,000			Air Lease Corporation(b)		H15T5Y + 4.076%		4.6500		06/15/70			2,990,207
	500,000			Burford Capital Global Finance, LLC(a)				6.2500		04/15/28			495,711
	3,710,000			Burford Capital Global Finance, LLC(a)				9.2500		07/01/31			3,908,333
	500,000			Freedom Mortgage Corporation(a)				6.6250		01/15/27			501,678
	1,000,000			Freedom Mortgage Corporation(a)				12.0000		10/01/28			1,074,076
	2,000,000			Freedom Mortgage Holdings, LLC(a)				9.1250		05/15/31			2,066,938
	330,000			Freedom Mortgage Holdings, LLC(a)				8.3750		04/01/32			331,940
	2,955,000			ILFC E-Capital Trust I(a)(b)		TSFR3M + 1.812%		6.4300		12/21/65			2,478,179
	2,000,000			ILFC E-Capital Trust II(a)(b)		TSFR3M + 2.062%		6.6800		12/21/65			1,708,920
	2,170,000			Jefferies Finance, LLC / JFIN Co-Issuer Corporation(a)				6.6250		10/15/31			2,164,137
	1,000,000			Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corporation(a)				7.0000		07/15/31			1,047,262
	2,000,000			PennyMac Financial Services, Inc.(a)				6.8750		05/15/32			2,041,031
	1,150,000			Rithm Capital Corporation(a)				8.0000		07/15/30			1,167,210
	1,000,000			Rithm Capital Corporation(a)				6.2500		10/15/25			1,004,287

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Principal Amount ($)						Spread		Coupon Rate (%)		Maturity		Fair Value
				CORPORATE BONDS — 91.8% (Continued)
				SPECIALTY FINANCE — 14.1% (Continued)
	4,050,000			Rithm Capital Corporation(a)				8.0000		04/01/29		$	4,094,286
	820,000			Starwood Property Trust, Inc.(a)				6.0000		04/15/30			829,365
	1,000,000			Starwood Property Trust, Inc.(a)				6.5000		07/01/30			1,033,767
	655,000			Starwood Property Trust, Inc.(a)				6.5000		10/15/30			677,888
	655,000			Walker & Dunlop, Inc.(a)				6.6250		04/01/33			673,816
													31,329,463
				STEEL — 2.3%
	1,500,000			Commercial Metals Company				4.3750		03/15/32			1,382,437
	4,004,000			TMS International Corporation(a)				6.2500		04/15/29			3,805,306
													5,187,743
				TECHNOLOGY HARDWARE — 1.1%
	550,000			Ciena Corporation(a)				4.0000		01/31/30			521,324
	1,000,000			TTM Technologies, Inc.(a)				4.0000		03/01/29			953,534
	1,000,000			Zebra Technologies Corporation(a)				6.5000		06/01/32			1,028,959
													2,503,817
				TECHNOLOGY SERVICES — 0.9%
	995,000			CACI International, Inc.(a)				6.3750		06/15/33			1,026,900
	1,000,000			Insight Enterprises, Inc.(a)				6.6250		05/15/32			1,031,051
													2,057,951
				TRANSPORTATION & LOGISTICS — 0.3%
	660,000			Stonepeak Nile Parent, LLC(a)				7.2500		03/15/32			700,127
				WHOLESALE - CONSUMER STAPLES — 0.6%
	1,280,000			KeHE Distributors, LLC / KeHE Finance Corporation / NextWave Distribution, Inc.(a)				9.0000		02/15/29			1,327,021
				TOTAL CORPORATE BONDS (Cost $200,078,867)									204,478,103

 

 

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				SHORT-TERM INVESTMENT — 6.8%
				MONEY MARKET FUND - 6.8%
	15,236,600			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(c) (Cost $15,236,600)		$	15,236,600
				TOTAL INVESTMENTS - 98.6% (Cost $215,315,467)		$	219,714,703
				OTHER ASSETS IN EXCESS OF LIABILITIES - 1.4%			3,229,066
				NET ASSETS - 100.0%		$	222,943,769

LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
PLC	- Public Limited Company
H15T5Y	US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
TSFR3M	Term SOFR Secured Overnight Financing Rate 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 June 30, 2025, the total market value of 144A securities is 182,827,891 or 82.0% of net assets.
(b)	Variable rate security; the rate shown represents the rate on June 30, 2025.
(c)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 96.3%
				AEROSPACE & DEFENSE - 6.3%
	82,000			Safran S.A. - ADR		$	6,696,940
	92,200			Thales S.A. - ADR			5,433,346
							12,130,286
				APPAREL & TEXTILE PRODUCTS - 2.1%
	219,000			Cie Financiere Richemont S.A. - ADR			4,123,770
				BANKING - 15.6%
	38,922			DBS Group Holdings Ltd. - ADR			5,508,630
	15,600			HDFC Bank Ltd. - ADR			1,196,052
	70,100			ICICI Bank Ltd. - ADR			2,358,164
	439,000			Itau Unibanco Holding S.A. - ADR			2,980,810
	96,700			KBC Group N.V. - ADR			4,979,083
	700,000			Lloyds Banking Group plc - ADR			2,975,000
	309,000			Sumitomo Mitsui Financial Group, Inc. - ADR			4,668,990
	161,000			UniCredit SpA - ADR			5,380,620
							30,047,349
				BIOTECH & PHARMA - 2.8%
	5,900			Argenx S.E. - ADR(a)			3,252,198
	100,000			Genmab A/S - ADR(a)			2,066,000
							5,318,198
				CHEMICALS - 2.4%
	109,362			Air Liquide S.A. - ADR			4,516,651
				CONSTRUCTION MATERIALS - 2.7%
	57,000			CRH plc			5,232,600
				DIVERSIFIED INDUSTRIALS - 2.1%
	138,000			Hitachi Ltd. - ADR			4,010,280
				ELECTRIC UTILITIES - 3.6%
	438,000			Enel - Societa per Azioni - ADR			4,152,240
	35,200			Iberdrola SA - ADR			2,709,696
							6,861,936

 

 

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 96.3% (Continued)
				ELECTRICAL EQUIPMENT - 2.6%
	84,000			ABB Ltd. - ADR		$	5,012,280
				ENGINEERING & CONSTRUCTION - 3.5%
	63,000			Cellnex Telecom S.A. - ADR			1,222,830
	149,000			Vinci S.A. - ADR			5,496,595
							6,719,425
				HOUSEHOLD PRODUCTS - 2.1%
	248,000			Haleon plc - ADR			2,571,760
	408,000			Unicharm Corporation - ADR			1,468,800
							4,040,560
				INDUSTRIAL SUPPORT SERVICES - 1.3%
	9,500			Ashtead Group plc - ADR			2,460,120
				INSTITUTIONAL FINANCIAL SERVICES - 2.7%
	143,000			London Stock Exchange Group plc - ADR			5,270,980
				INSURANCE - 4.7%
	297,000			Muenchener Rueckversicherungs-Gesellschaft A.G. - ADR			3,866,940
	120,000			Tokio Marine Holdings, Inc. - ADR			5,084,400
							8,951,340
				INTERNET MEDIA & SERVICES - 5.5%
	96,500			Nebius Group N.V., Class A(a)			5,339,345
	472,181			Prosus N.V. - ADR			5,255,375
							10,594,720
				MACHINERY - 3.7%
	244,000			Atlas Copco A.B. - ADR			3,457,480
	66,150			Techtronic Industries Company Ltd. - ADR			3,657,434
							7,114,914
				MEDICAL EQUIPMENT & DEVICES - 5.9%
	62,500			Alcon, Inc.			5,517,500
	34,000			Hoya Corporation - ADR			4,048,040
	55,400			Smith & Nephew plc - ADR			1,696,902
							11,262,442

 

 

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				COMMON STOCKS — 96.3% (Continued)
				METALS & MINING - 0.6%
	20,300			Rio Tinto plc - ADR		$	1,184,099
				OIL & GAS PRODUCERS - 4.6%
	142,600			Canadian Natural Resources Ltd.			4,477,640
	135,000			Equinor ASA - ADR			3,393,900
	81,500			Petroleo Brasileiro S.A. - ADR			1,019,565
							8,891,105
				SEMICONDUCTORS - 8.3%
	7,500			ASM International N.V. - ADR			4,806,975
	9,300			NXP Semiconductors N.V.			2,031,957
	38,000			STMicroelectronics N.V. - ADR			1,155,580
	26,800			Taiwan Semiconductor Manufacturing Company Ltd. - ADR			6,069,932
	19,292			Tokyo Electron Ltd. - ADR			1,854,540
							15,918,984
				SPECIALTY FINANCE - 1.4%
	123,000			ORIX Corporation - ADR			2,769,960
				TECHNOLOGY HARDWARE - 2.1%
	366,328			FUJIFILM Holdings Corporation - ADR			3,952,679
				TECHNOLOGY SERVICES - 3.1%
	52,500			Amadeus IT Group S.A. - ADR			4,443,600
	86,000			Infosys Ltd. - ADR			1,593,580
							6,037,180
				TRANSPORTATION & LOGISTICS - 4.6%
	63,000			Canadian Pacific Kansas City Ltd.			4,994,010
	68,000			Ryanair Holdings plc - ADR			3,921,560
							8,915,570
				WHOLESALE - CONSUMER STAPLES - 2.0%
	37,100			ITOCHU Corporation - ADR			3,885,483
				TOTAL COMMON STOCKS (Cost $118,691,190)			185,222,911

 

 

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Shares						Fair Value
				SHORT-TERM INVESTMENT — 3.3%
				MONEY MARKET FUND - 3.3%
	6,293,195			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $6,293,195)		$	6,293,195
				TOTAL INVESTMENTS - 99.6% (Cost $124,984,385)		$	191,516,106
				OTHER ASSETS IN EXCESS OF LIABILITIES - 0.4%			760,337
				NET ASSETS - 100.0%		$	192,276,443

ADR	- American Depositary Receipt
A/S	- Anonim Sirketi
LTD	- Limited Company
NV	- Naamioze Vennootschap
PLC	- Public Limited Company
SA	- Société Anonyme
(a)	Non-income producing security.
(b)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

 

Diversification of Assets
Country		% of Net Assets
Japan			16.5	%
France			11.5	%
Netherlands			11.3	%
United Kingdom			8.4	%
Switzerland			7.6	%
Italy			4.9	%
Canada			4.9	%
Ireland			4.8	%
Spain			4.3	%
Taiwan Province Of China			3.2	%
Singapore			2.9	%
India			2.7	%
Belgium			2.6	%
Brazil			2.1	%
Germany			2.0	%
Hong Kong			1.9	%
Sweden			1.8	%
Norway			1.8	%
Denmark			1.1	%
Total			96.3	%
Money Market Fund			3.3	%
Other Assets in Excess of Liabilities			0.4	%
Grand Total			100.0	%

 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 98.6%
				AEROSPACE & DEFENSE - 8.5%
	17,101			Elbit Systems Ltd.		$	7,686,900
	97,000			Leonardo DRS, Inc.			4,508,560
							12,195,460
				APPAREL & TEXTILE PRODUCTS - 2.5%
	23,816			Delta Galil Ltd.			1,264,304
	23,000			Fox Wizel Ltd.			2,302,663
							3,566,967
				BANKING - 16.3%
	478,000			Bank Leumi Le-Israel BM			8,887,017
	45,300			First International Bank Of Israel Ltd.			3,277,697
	527,000			Israel Discount Bank Ltd., Class A			5,251,067
	95,000			Mizrahi Tefahot Bank Ltd.			6,191,176
							23,606,957
				CHEMICALS - 1.2%
	247,902			ICL Group Ltd.			1,705,566
				ELECTRIC UTILITIES - 1.1%
	19,400			Ormat Technologies, Inc.			1,624,974
				ELECTRICAL EQUIPMENT - 1.8%
	31,400			Camtek Ltd.(a)			2,655,184
				ENGINEERING & CONSTRUCTION - 0.6%
	167,173			Shikun & Binui Ltd.(a)			838,818
				HEALTH CARE FACILITIES & SERVICES - 1.7%
	12,769			Danel Adir Yeoshua Ltd.			1,823,547
	1,575,013			Novolog Ltd.			659,821
							2,483,368
				INSTITUTIONAL FINANCIAL SERVICES - 4.9%
	365,194			Tel Aviv Stock Exchange Ltd.			7,058,617
				INSURANCE - 6.9%
	80,000			Harel Insurance Investments & Financial Services Ltd.			2,240,314

 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 98.6% (Continued)
				INSURANCE - 6.9% (Continued)
	693,628			Migdal Insurance & Financial Holdings Ltd.		$	1,909,274
	199,400			Phoenix Financial Ltd. (The)			5,769,285
							9,918,873
				LEISURE FACILITIES & SERVICES - 1.7%
	13,735			Fattal Holdings 1998 Ltd.(a)			2,384,795
				MEDICAL EQUIPMENT & DEVICES - 0.6%
	62,326			Brainsway Ltd. - ADR(a)			819,587
				OIL & GAS PRODUCERS - 7.4%
	104,968			Energean plc			1,313,253
	102,000			Energean plc			1,293,738
	5,600			Israel Corp Ltd. (The)			1,868,329
	1,100,000			Isramco Negev 2, L.P.			750,839
	350,000			Newmed Energy, L.P.			1,720,852
	8,000			Paz Oil Company Ltd.			1,462,427
	1,600,000			Ratio Energies Finance, L.P.			2,298,743
							10,708,181
				REAL ESTATE INVESTMENT TRUSTS - 3.5%
	12,000			Big Shopping Centers Ltd.(a)			2,297,675
	399,000			Reit 1 Ltd.			2,678,480
							4,976,155
				REAL ESTATE OWNERS & DEVELOPERS - 11.3%
	312,000			Amot Investments Ltd.			2,112,978
	44,000			Azrieli Group Ltd.			4,045,841
	40,000			Elco Ltd.			2,208,961
	117,674			G City Ltd.			466,070
	160,000			Gav-Yam Lands Corporation Ltd.			1,750,542
	27,380			Melisron Ltd.			3,121,563
	703,430			Mivne Real Estate KD Ltd.			2,635,696
							16,341,651
				RENEWABLE ENERGY - 0.8%
	296,360			Energix-Renewable Energies Ltd.			1,094,598

 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 98.6% (Continued)
				RETAIL - CONSUMER STAPLES - 2.8%
	18,700			Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		$	1,804,985
	195,000			Shufersal Ltd.			2,240,002
							4,044,987
				SEMICONDUCTORS - 6.2%
	23,000			Nova Ltd.(a)			6,329,600
	60,323			Tower Semiconductor Ltd.(a)			2,615,002
							8,944,602
				SOFTWARE - 15.0%
	13,400			CyberArk Software Ltd.(a)			5,452,192
	29,935			Hilan Ltd.			2,542,800
	57,000			Mobileye Global, Inc., Class A(a)			1,024,860
	9,500			Monday.com Ltd.(a)			2,987,560
	17,100			Nice Ltd. - ADR(a)			2,888,361
	25,000			Oddity Tech Ltd.(a)			1,886,750
	41,000			One Software Technologies Ltd.			1,056,619
	50,300			Sapiens International Corporation N.V.			1,471,275
	46,200			Varonis Systems, Inc.(a)			2,344,650
							21,655,067
				TECHNOLOGY HARDWARE - 0.9%
	35,348			Next Vision Stabilized Systems Ltd.			1,319,214
				TECHNOLOGY SERVICES - 2.3%
	72,783			Magic Software Enterprises Ltd.			1,391,611
	56,210			Matrix IT Ltd.			1,955,943
							3,347,554
				WHOLESALE - DISCRETIONARY - 0.6%
	17,300			Tadiran Group Ltd.			924,557
				TOTAL COMMON STOCKS (Cost $51,892,595)			142,215,732

 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				SHORT-TERM INVESTMENT — 1.5%
				MONEY MARKET FUND - 1.5%
	2,156,666			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $2,156,666)		$	2,156,666
				TOTAL INVESTMENTS - 100.1% (Cost $54,049,261)		$	144,372,398
				LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%			(94,174	)
				NET ASSETS - 100.0%		$	144,278,224

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.
(a)	Rate disclosed is the seven day effective yield as of June 30, 2025.

 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2025

Diversification of Assets
Country		% of Net Assets
Israel		89.2%
United States		6.6%
United Kingdom		1.8%
Cayman Islands		1.0%
Total		98.6%
Money Market Fund		1.5%
Liabilities in Excess of Other Assets		(0.1)%
Grand Total		100.0%

 

 

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 86.4%
				AEROSPACE & DEFENSE - 1.5%
	2,475			TransDigm Group, Inc.		$	3,763,584
				APPAREL & TEXTILE PRODUCTS - 0.5%
	23,205			On Holding A.G., Class A(a)			1,207,820
				ASSET MANAGEMENT - 0.9%
	55,676			Blue Owl Capital, Inc.			1,069,536
	3,421			LPL Financial Holdings, Inc.			1,282,772
							2,352,308
				AUTOMOTIVE - 3.0%
	23,395			Tesla, Inc.(a)			7,431,656
				BIOTECH & PHARMA - 1.2%
	19,693			Zoetis, Inc.			3,071,123
				CHEMICALS - 3.4%
	11,829			Linde plc			5,549,931
	8,654			Sherwin-Williams Company (The)			2,971,437
							8,521,368
				COMMERCIAL SUPPORT SERVICES - 2.6%
	16,200			Cintas Corporation			3,610,494
	13,641			Waste Management, Inc.			3,121,334
							6,731,828
				CONSTRUCTION MATERIALS - 0.9%
	4,192			Martin Marietta Materials, Inc.			2,301,240
				ELECTRICAL EQUIPMENT - 1.8%
	47,589			Amphenol Corporation, Class A			4,699,414
				HEALTH CARE FACILITIES & SERVICES - 0.7%
	4,278			HCA Healthcare, Inc.			1,638,902

 

 

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 86.4% (Continued)
				INDUSTRIAL REIT - 0.9%
	21,991			Prologis, Inc.		$	2,311,694
				INDUSTRIAL SUPPORT SERVICES - 1.6%
	54,042			Fastenal Company			2,269,764
	1,738			WW Grainger, Inc.			1,807,937
							4,077,701
				INFRASTRUCTURE REIT - 1.6%
	11,191			American Tower Corporation			2,473,435
	13,512			Crown Castle, Inc.			1,388,088
							3,861,523
				INSTITUTIONAL FINANCIAL SERVICES - 2.2%
	28,519			Intercontinental Exchange, Inc.			5,232,381
				INSURANCE - 1.9%
	9,632			Arthur J Gallagher & Company			3,083,396
	6,665			Progressive Corporation (The)			1,778,622
							4,862,018
				LEISURE FACILITIES & SERVICES - 1.3%
	59,425			Chipotle Mexican Grill, Inc.(a)			3,336,714
				MACHINERY - 1.9%
	9,474			Caterpillar, Inc.			3,677,901
	11,610			Ingersoll Rand, Inc.			965,720
							4,643,621
				MEDICAL EQUIPMENT & DEVICES - 5.7%
	17,144			Danaher Corporation			3,386,626
	9,732			Intuitive Surgical, Inc.(a)			5,288,466
	14,208			Stryker Corporation			5,621,111
							14,296,203
				RETAIL - CONSUMER STAPLES - 5.2%
	13,123			Costco Wholesale Corporation			12,990,983
				RETAIL - DISCRETIONARY - 2.9%
	61,095			O’Reilly Automotive, Inc.(a)			5,506,492

 

 

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 86.4% (Continued)
				RETAIL - DISCRETIONARY - 2.9% (Continued)
	35,256			Tractor Supply Company		$	1,860,459
							7,366,951
				SEMICONDUCTORS - 21.2%
	18,028			Analog Devices, Inc.			4,291,025
	44,262			Broadcom, Inc.			12,200,819
	4,986			KLA Corporation			4,466,160
	171,737			NVIDIA Corporation			27,132,728
	7,686			NXP Semiconductors N.V.			1,679,314
	16,434			Taiwan Semiconductor Manufacturing Company Ltd. - ADR			3,722,137
							53,492,183
				SOFTWARE - 18.9%
	15,612			Cadence Design Systems, Inc.(a)			4,810,838
	6,375			Crowdstrike Holdings, Inc., Class A(a)			3,246,851
	27,950			DocuSign, Inc.(a)			2,177,026
	12,462			Guidewire Software, Inc.(a)			2,934,178
	5,079			Manhattan Associates, Inc.(a)			1,002,950
	25,791			Palo Alto Networks, Inc.(a)			5,277,870
	11,789			Roper Technologies, Inc.			6,682,477
	7,789			ServiceNow, Inc.(a)			8,007,715
	29,584			Shopify, Inc., Class A(a)			3,412,514
	7,721			Snowflake, Inc.(a)			1,727,728
	9,967			Synopsys, Inc.(a)			5,109,882
	5,008			Tyler Technologies, Inc.(a)			2,968,943
							47,358,972
				TECHNOLOGY HARDWARE - 2.4%
	34,783			Arista Networks, Inc.(a)			3,558,649
	30,030			Ciena Corporation(a)			2,442,340
							6,000,989
				TECHNOLOGY SERVICES - 0.5%
	27,739			Toast, Inc., Class A(a)			1,228,560
				TRANSPORTATION & LOGISTICS - 1.7%
	38,192			Canadian Pacific Kansas City Ltd.			3,027,480

 

 

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 86.4% (Continued)
				TRANSPORTATION & LOGISTICS - 1.7% (Continued)
	7,267			Old Dominion Freight Line, Inc.		$	1,179,434
							4,206,914
				TOTAL COMMON STOCKS (Cost $151,517,261)			216,986,650
				EXCHANGE-TRADED FUND — 10.3%
				EQUITY - 10.3%
	573,000			Timothy Plan US Large/Mid Cap Core ETF(b)			25,727,070
				TOTAL EXCHANGE-TRADED FUND (Cost $20,988,985)			25,727,070
				SHORT-TERM INVESTMENT — 3.3%
				MONEY MARKET FUND - 3.3%
	8,190,166			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(c) (Cost $8,190,166)			8,190,166
				TOTAL INVESTMENTS - 100.0% (Cost $180,696,412)		$	250,903,886
				LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%			(9,860	)
				NET ASSETS - 100.0%		$	250,894,026

 

ADR	- American Depositary Receipt
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 June 30, 2025.

 

 

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 76.3%
				AEROSPACE & DEFENSE - 2.1%
	23,452			General Dynamics Corporation		$	6,840,010
				BANKING - 3.9%
	48,670			Cullen/Frost Bankers, Inc.			6,256,042
	71,186			SouthState Corporation			6,551,247
							12,807,289
				CHEMICALS - 1.8%
	16,964			Sherwin-Williams Company (The)			5,824,759
				COMMERCIAL SUPPORT SERVICES - 1.7%
	30,277			Waste Connections, Inc.			5,653,321
				CONTAINERS & PACKAGING - 1.7%
	55,114			Crown Holdings, Inc.			5,675,640
				ELECTRIC UTILITIES - 5.6%
	81,137			CMS Energy Corporation			5,621,171
	94,157			NextEra Energy, Inc.			6,536,379
	58,443			WEC Energy Group, Inc.			6,089,761
							18,247,311
				ELECTRICAL EQUIPMENT - 4.5%
	19,100			Hubbell, Inc.			7,800,632
	29,706			Littelfuse, Inc.			6,735,241
							14,535,873
				FOOD - 5.3%
	52,416			J M Smucker Company (The)			5,147,251
	36,524			Lancaster Colony Corporation			6,310,252
	80,220			McCormick & Company, Inc.			6,082,280
							17,539,783
				HEALTH CARE FACILITIES & SERVICES - 2.0%
	17,047			HCA Healthcare, Inc.			6,530,706

 

 

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 76.3% (Continued)
				INSTITUTIONAL FINANCIAL SERVICES - 2.4%
	42,750			Intercontinental Exchange, Inc.		$	7,843,343
				INSURANCE - 1.9%
	19,176			Arthur J Gallagher & Company			6,138,621
				LEISURE FACILITIES & SERVICES - 1.6%
	11,309			Domino’s Pizza, Inc.			5,095,835
				MEDICAL EQUIPMENT & DEVICES - 5.1%
	28,024			Danaher Corporation			5,535,861
	57,927			Revvity, Inc.			5,602,699
	23,046			STERIS plc			5,536,110
							16,674,670
				OIL & GAS PRODUCERS - 3.6%
	57,825			ConocoPhillips			5,189,216
	55,916			EOG Resources, Inc.			6,688,112
							11,877,328
				REAL ESTATE INVESTMENT TRUSTS - 1.8%
	57,041			Prologis, Inc.			5,996,150
				RETAIL - CONSUMER STAPLES - 1.8%
	5,918			Costco Wholesale Corporation			5,858,465
				RETAIL - DISCRETIONARY - 1.9%
	70,515			O’Reilly Automotive, Inc.(a)			6,355,517
				SEMICONDUCTORS - 13.6%
	29,874			Broadcom, Inc.			8,234,767
	104,137			Marvell Technology, Inc.			8,060,204
	88,646			Microchip Technology, Inc.			6,238,019
	10,218			Monolithic Power Systems, Inc.			7,473,241
	45,935			NVIDIA Corporation			7,257,271
	37,130			Texas Instruments, Inc.			7,708,931
							44,972,433

 

 

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 76.3% (Continued)
				SOFTWARE - 5.8%
	19,530			Cadence Design Systems, Inc.(a)		$	6,018,170
	10,890			Tyler Technologies, Inc.(a)			6,456,028
	252,214			Verra Mobility Corporation(a)			6,403,713
							18,877,911
				TECHNOLOGY SERVICES - 4.1%
	66,548			Amdocs Ltd.			6,071,840
	15,292			CACI International, Inc., Class A(a)			7,289,696
							13,361,536
				TIMBER REIT - 1.8%
	225,834			Weyerhaeuser Company			5,801,675
				TRANSPORTATION & LOGISTICS - 2.3%
	33,088			Union Pacific Corporation			7,612,888
				TOTAL COMMON STOCKS (Cost $185,147,559)			250,121,064
				EXCHANGE-TRADED FUNDS — 18.4%
				EQUITY - 18.4%
	858,500			Timothy Plan High Dividend Stock ETF(b)			32,451,300
	616,000			Timothy Plan US Large/Mid Cap Core ETF(b)			27,657,722
				TOTAL EXCHANGE-TRADED FUNDS (Cost $50,251,098)			60,109,022
				SHORT-TERM INVESTMENT — 5.3%
				MONEY MARKET FUND - 5.3%
	17,372,330			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(c) (Cost $17,372,330)			17,372,330
				TOTAL INVESTMENTS - 100.0% (Cost $252,770,987)		$	327,602,416
				LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%			(74,928	)
				NET ASSETS - 100.0%		$	327,527,488

 

ETF	- Exchange-Traded Fund
LTD	- Limited Company
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 June 30, 2025.

 

 

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 85.0%
				AEROSPACE & DEFENSE - 3.5%
	46,461			AAR Corporation(a)		$	3,196,052
	16,572			Moog, Inc., Class A			2,999,035
							6,195,087
				BANKING - 14.5%
	96,831			Atlantic Union Bankshares Corporation			3,028,874
	34,570			Bank of NT Butterfield & Son Ltd. (The)			1,530,760
	48,761			Banner Corporation			3,128,018
	24,954			City Holding Company			3,054,869
	25,148			Coastal Financial Corporation(a)			2,436,087
	68,909			First Bancorp			3,038,198
	81,169			National Bank Holdings Corporation, Class A			3,052,766
	83,543			Renasant Corporation			3,001,700
	118,982			Seacoast Banking Corporation of Florida			3,286,283
							25,557,555
				BIOTECH & PHARMA - 1.6%
	35,173			Prestige Consumer Healthcare, Inc.(a)			2,808,564
				CHEMICALS - 6.5%
	40,801			Avient Corporation			1,318,280
	17,314			Hawkins, Inc.			2,460,319
	18,078			Innospec, Inc.			1,520,179
	31,486			Sensient Technologies Corporation			3,102,001
	54,656			Stepan Company			2,983,124
							11,383,903
				ELECTRIC UTILITIES - 4.6%
	81,000			Avista Corporation			3,073,950
	47,748			Northwestern Energy Group, Inc.			2,449,472
	43,522			TXNM Energy, Inc.			2,451,159
							7,974,581
				ELECTRICAL EQUIPMENT - 0.9%
	115,548			Hayward Holdings, Inc.(a)			1,594,562

 

 

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 85.0% (Continued)
				ENGINEERING & CONSTRUCTION - 1.8%
	49,705			Everus Construction Group, Inc.(a)		$	3,157,759
				FOOD - 0.8%
	12,666			J & J Snack Foods Corporation			1,436,451
				FORESTRY, PAPER & WOOD PRODUCTS - 1.8%
	35,823			Boise Cascade Company			3,110,153
				HOME CONSTRUCTION - 1.8%
	56,324			Century Communities, Inc.			3,172,168
				HOUSEHOLD PRODUCTS - 2.5%
	48,757			Central Garden & Pet Company, Class A(a)			1,525,607
	22,101			Interparfums, Inc.			2,902,082
							4,427,689
				INDUSTRIAL INTERMEDIATE PRODUCTS - 1.3%
	24,713			AZZ, Inc.			2,334,884
				INSTITUTIONAL FINANCIAL SERVICES - 2.0%
	28,000			Perella Weinberg Partners			543,760
	10,883			Piper Sandler Companies			3,024,821
							3,568,581
				INSURANCE - 2.0%
	79,357			Baldwin Insurance Group, Inc. (The)(a)			3,397,273
				LEISURE FACILITIES & SERVICES - 1.3%
	37,193			Cheesecake Factory, Inc. (The)			2,330,513
				LEISURE PRODUCTS - 1.8%
	102,039			Yeti Holdings, Inc.(a)			3,216,269
				MACHINERY - 1.7%
	13,969			Alamo Group, Inc.			3,050,550

 

 

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 85.0% (Continued)
				MEDICAL EQUIPMENT & DEVICES - 3.3%
	49,484			CONMED Corporation		$	2,577,127
	33,964			Merit Medical Systems, Inc.(a)			3,174,954
							5,752,081
				OFFICE REIT - 1.7%
	105,446			COPT Defense Properties			2,908,201
				OIL & GAS PRODUCERS - 6.2%
	7,728			Gulfport Energy Corporation(a)			1,554,642
	71,139			Infinity Natural Resources, Inc., Class A(a)			1,302,555
	97,174			Northern Oil & Gas, Inc.			2,754,883
	65,414			Sitio Royalties Corporation, Class A			1,202,309
	122,493			SM Energy Company			3,026,802
	68,859			Vital Energy, Inc.(a)			1,107,941
							10,949,132
				OIL & GAS SERVICES & EQUIPMENT - 0.8%
	50,696			Thermon Group Holdings, Inc.(a)			1,423,544
				REAL ESTATE INVESTMENT TRUSTS - 5.1%
	188,095			Plymouth Industrial REIT, Inc.			3,020,805
	78,456			PotlatchDeltic Corporation			3,010,357
	160,644			Urban Edge Properties			2,997,617
							9,028,779
				RETAIL - DISCRETIONARY - 5.2%
	64,024			Academy Sports & Outdoors, Inc.			2,868,915
	9,601			Boot Barn Holdings, Inc.(a)			1,459,352
	28,750			GMS, Inc.(a)			3,126,563
	20,802			Sonic Automotive, Inc., Class A			1,662,704
							9,117,534
				RETAIL REIT - 1.7%
	109,758			Four Corners Property Trust, Inc.			2,953,588
				SEMICONDUCTORS - 3.0%
	48,576			Rambus, Inc.(a)			3,109,836

 

 

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 85.0% (Continued)
				SEMICONDUCTORS - 3.0% (Continued)
	106,744			Veeco Instruments, Inc.(a)		$	2,169,038
							5,278,874
				SOFTWARE - 4.4%
	54,739			Blackline, Inc.(a)			3,099,322
	24,854			Donnelley Financial Solutions, Inc.(a)			1,532,249
	124,923			Verra Mobility Corporation(a)			3,171,795
							7,803,366
				TRANSPORTATION & LOGISTICS - 1.4%
	32,200			ArcBest Corporation			2,479,722
				TRANSPORTATION EQUIPMENT - 1.8%
	73,318			Blue Bird Corporation(a)			3,164,405
				TOTAL COMMON STOCKS (Cost $143,607,927)			149,575,768
				EXCHANGE-TRADED FUND — 12.8%
				EQUITY - 12.8%
	580,000			Timothy Plan US Small Cap Core ETF(b)			22,434,400
				TOTAL EXCHANGE-TRADED FUND (Cost $14,834,080)			22,434,400
				SHORT-TERM INVESTMENT — 2.0%
				MONEY MARKET FUND - 2.0%
	3,622,067			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(c) (Cost $3,622,067)			3,622,067
				TOTAL INVESTMENTS - 99.8% (Cost $162,064,074)		$	175,632,235
				OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%			266,172
				NET ASSETS - 100.0%		$	175,898,407

ETF	- Exchange-Traded Fund
LTD	- 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 June 30, 2025.

 

 

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 94.2%
				AEROSPACE & DEFENSE - 1.9%
	999			TransDigm Group, Inc.		$	1,519,119
				BANKING - 7.6%
	110,819			First Horizon Corporation			2,349,363
	12,924			Pinnacle Financial Partners, Inc.			1,426,939
	18,974			Wintrust Financial Corporation			2,352,396
							6,128,698
				BIOTECH & PHARMA - 1.1%
	3,118			United Therapeutics Corporation(a)			895,957
				CONSTRUCTION MATERIALS - 1.9%
	29,969			Amrize Ltd.(a)			1,484,964
				DATA CENTER REIT - 2.2%
	9,963			Digital Realty Trust, Inc.			1,736,850
				ELECTRIC UTILITIES - 3.6%
	14,779			Vistra Corporation			2,864,318
				ELECTRICAL EQUIPMENT - 9.2%
	34,452			Amphenol Corporation, Class A			3,402,135
	16,837			Itron, Inc.(a)			2,216,254
	13,172			Vertiv Holdings Company, Class A			1,691,417
							7,309,806
				ENGINEERING & CONSTRUCTION - 8.7%
	4,755			Comfort Systems USA, Inc.			2,549,679
	11,108			MasTec, Inc.(a)			1,893,136
	6,800			Quanta Services, Inc.			2,570,944
							7,013,759
				HEALTH CARE FACILITIES & SERVICES - 1.3%
	11,488			GeneDx Holdings Corporation(a)			1,060,457
				INDUSTRIAL SUPPORT SERVICES - 4.3%
	34,922			Fastenal Company			1,466,724

 

 

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 94.2% (Continued)
				INDUSTRIAL SUPPORT SERVICES - 4.3% (Continued)
	2,655			United Rentals, Inc.		$	2,000,277
							3,467,001
				LEISURE FACILITIES & SERVICES - 3.0%
	5,146			Domino’s Pizza, Inc.			2,318,788
				MEDICAL EQUIPMENT & DEVICES - 13.2%
	7,529			Insulet Corporation(a)			2,365,461
	25,931			Lantheus Holdings, Inc.(a)			2,122,712
	7,274			Masimo Corporation(a)			1,223,632
	23,376			Merit Medical Systems, Inc.(a)			2,185,188
	15,930			Natera, Inc.(a)			2,691,215
							10,588,208
				OIL & GAS PRODUCERS - 4.5%
	11,039			Cheniere Energy, Inc.			2,688,217
	6,698			Diamondback Energy, Inc.			920,305
							3,608,522
				RETAIL - DISCRETIONARY - 2.3%
	14,539			Ross Stores, Inc.			1,854,886
				SEMICONDUCTORS - 7.3%
	46,722			Marvell Technology, Inc.			3,616,283
	3,031			Monolithic Power Systems, Inc.			2,216,813
							5,833,096
				SOFTWARE - 5.9%
	7,895			Manhattan Associates, Inc.(a)			1,559,026
	7,436			MongoDB, Inc.(a)			1,561,486
	5,208			Zscaler, Inc.(a)			1,634,999
							4,755,511
				TECHNOLOGY HARDWARE - 7.6%
	23,048			Seagate Technology Holdings plc			3,326,518
	57,777			Super Micro Computer, Inc.(a)			2,831,651
							6,158,169
				TECHNOLOGY SERVICES - 6.5%
	3,952			CACI International, Inc., Class A(a)			1,883,919

 

 

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2025

Shares						Fair Value
				COMMON STOCKS — 94.2% (Continued)
				TECHNOLOGY SERVICES - 6.5% (Continued)
	5,176			Coinbase Global, Inc., Class A(a)		$	1,814,136
	2,619			MSCI, Inc.			1,510,482
							5,208,537
				WHOLESALE - DISCRETIONARY - 2.1%
	46,545			LKQ Corporation			1,722,630
				TOTAL COMMON STOCKS (Cost $63,321,160)			75,529,276
				SHORT-TERM INVESTMENT — 5.8%
				MONEY MARKET FUND - 5.8%
	4,682,836			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $4,682,836)			4,682,836
				TOTAL INVESTMENTS - 100.0% (Cost $68,003,996)		$	80,212,112
				LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%			(5,701	)
				NET ASSETS - 100.0%		$	80,206,411

LTD	- Limited Company
MSCI	- Morgan Stanley Capital International
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 June 30, 2025.

 

 

TIMOTHY PLAN STRATEGIC GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2025

Shares						Fair Value
				EXCHANGE-TRADED FUNDS — 64.6%
				EQUITY - 64.6%
	68,000			Timothy Plan High Dividend Stock ETF(a)		$	2,570,400
	199,456			Timothy Plan International ETF(a)			6,441,212
	68,800			Timothy Plan Market Neutral ETF(a)			1,654,124
	162,000			Timothy Plan US Large/Mid Cap Core ETF(a)			7,273,621
	101,423			Timothy Plan US Small Cap Core ETF(a)			3,923,042
				TOTAL EXCHANGE-TRADED FUNDS (Cost $18,337,209)			21,862,399
				OPEN END FUNDS — 34.0%
				EQUITY - 13.2%
	304,485			Timothy Plan International Fund, Class A(a)			4,460,711
				FIXED INCOME - 20.8%
	553,810			Timothy Plan Fixed Income Fund, Class A(a)			5,045,208
	222,014			Timothy Plan High Yield Bond Fund, Class A(a)			2,009,231
							7,054,439
				TOTAL OPEN END FUNDS (Cost $11,252,388)			11,515,150
				SHORT-TERM INVESTMENT — 1.5%
				MONEY MARKET FUND - 1.5%
	495,392			Fidelity Investments Money Market Government Portfolio, Class I, 4.18%(b) (Cost $495,392)			495,392
				TOTAL INVESTMENTS - 100.1% (Cost $30,084,989)		$	33,872,941
				LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%			(36,905	)
				NET ASSETS - 100.0%		$	33,836,036

ETF	- Exchange-Traded Fund

 

(a)	Investment in affiliate.
(b)	Rate disclosed is the seven day effective yield as of June 30, 2025.