TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 97.4%      
    AEROSPACE & DEFENSE - 8.3%      
17,101   Elbit Systems Ltd.       $ 12,974,871
97,000   Leonardo DRS, Inc.         4,138,990
             

17,113,861

    APPAREL & TEXTILE PRODUCTS - 1.7%      
23,816   Delta Galil Ltd.         1,305,775
23,000   Fox Wizel Ltd.         2,181,314
             

3,487,089

    BANKING - 12.4%      
478,000   Bank Leumi Le-Israel BM         10,683,781
45,300   First International Bank of Israel Ltd.         3,209,625
527,000   Israel Discount Bank Ltd., Class A         5,222,905
95,000   Mizrahi Tefahot Bank Ltd.         6,287,375
             

25,403,686

    ELECTRIC UTILITIES - 4.7%      
50,000   Enlight Renewable Energy Ltd.(a)         4,451,001
17,400   Kenon Holdings Ltd.         1,163,364
20,000   OPC Energy Ltd.(a)         621,514
30,400   Ormat Technologies, Inc.         3,310,599
             

9,546,478

    ELECTRICAL EQUIPMENT - 2.5%      
31,400   Camtek Ltd.(a)         5,121,968
             
 
    ENGINEERING & CONSTRUCTION - 0.8%      
247,173   Shikun & Binui Ltd.(a)         1,577,735
             
 
    HEALTH CARE FACILITIES & SERVICES - 1.0%      
12,769   Danel Adir Yeoshua Ltd.         1,952,714
             
 
    HOME CONSTRUCTION - 0.6%      
200,000   Aura Investments Ltd.         1,236,982
             
 
    INSTITUTIONAL FINANCIAL SERVICES - 7.4%      
365,194   Tel Aviv Stock Exchange Ltd.         15,152,005
             
 
 
 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 97.4% (Continued)      
    INSURANCE - 9.3%      
80,000   Harel Insurance Investments & Financial Services Ltd.       $ 4,208,829
693,628   Migdal Insurance & Financial Holdings Ltd.(a)         3,858,926
199,400   Phoenix Financial Ltd.         11,026,420
             

19,094,175

    LEISURE FACILITIES & SERVICES - 1.6%      
13,735   Fattal Holdings 1998 Ltd.(a)         3,242,025
             
 
    MEDICAL EQUIPMENT & DEVICES - 1.4%      
182,606   Brainsway Ltd. - ADR(a)         2,832,219
             
 
    OIL & GAS PRODUCERS - 5.2%      
74,968   Energean plc         679,665
102,000   Energean plc         918,021
5,600   Israel Corp Ltd.         1,431,512
1,100,000   Isramco Negev 2, L.P.         691,057
475,000   Newmed Energy, L.P.         2,489,417
8,000   Paz Oil Company Ltd.         2,126,991
1,600,000   Ratio Energies Finance, L.P.         2,311,361
             

10,648,024

    REAL ESTATE INVESTMENT TRUSTS - 2.7%      
12,000   Big Shopping Centers Ltd.         2,721,629
399,000   Reit 1 Ltd.         2,895,384
             

5,617,013

    REAL ESTATE OWNERS & DEVELOPERS - 9.5%      
312,000   Amot Investments Ltd.         1,942,270
44,000   Azrieli Group Ltd.         5,976,348
40,000   Elco Ltd.         1,972,721
117,674   G City Ltd.         440,398
180,000   Gav-Yam Lands Corp Ltd.         2,214,473
27,380   Melisron Ltd.         3,842,109
703,430   Mivne Real Estate KD Ltd.         3,072,160
14,226   Orion Retail Properties Ltd.(a)         8,216
             

19,468,695

 
 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 97.4% (Continued)      
    RENEWABLE ENERGY - 1.9%      
446,360   Energix-Renewable Energies Ltd.       $ 3,918,357
             
 
    RETAIL - CONSUMER STAPLES - 3.8%      
225,000   Max Stock Ltd.         2,725,005
18,700   Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.         2,293,052
195,000   Shufersal Ltd.         2,791,424
             

7,809,481
    SEMICONDUCTORS - 13.2%      
20,900   Nova Ltd.(a)         11,347,446
60,323   Tower Semiconductor Ltd.(a)         15,722,587
             

27,070,033
    SOFTWARE - 5.2%      
29,935   Hilan Ltd.         1,929,895
41,000   One Software Technologies Ltd.         782,507
23,386   Palo Alto Networks, Inc.(a)         7,975,094
             

10,687,496
    TECHNOLOGY HARDWARE - 3.0%      
61,348   Next Vision Stabilized Systems Ltd.         4,958,788
95,614   RP Optical Lab Ltd.(a)         1,100,175
             

6,058,963
    TECHNOLOGY SERVICES - 1.2%      
98,993   Matrix IT Ltd.         2,513,569
             
 
               
    TOTAL COMMON STOCKS (Cost $63,342,014)    

  199,552,568
               
    SHORT-TERM INVESTMENT — 2.6%      
    MONEY MARKET FUND - 2.6%      
5,387,645   Fidelity Investments Money Market Government Portfolio, Class I, 3.52%(b) (Cost $5,387,645)                       5,387,645
             
 
    TOTAL INVESTMENTS - 100.0% (Cost $68,729,659)     $ 204,940,213
    OTHER ASSETS IN EXCESS OF LIABILITIES - 0.0%(C)    

72,155
    NET ASSETS - 100.0%        

$ 205,012,368
                     
 
 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 

 

 

 

ADR  - American Depositary Receipt
L.P.  - Limited Partnership
Ltd.  - Limited Company
plc  - Public Limited Company
   
   
 

 

 

 

 

(a) Non-income producing security.
(b) Rate disclosed is the seven day effective yield as of June 30, 2026.
(C) Percentage rounds to less than 0.1%.

 

 

 

 
 

 

TIMOTHY PLAN ISRAEL COMMON VALUES FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
JUNE 30, 2026
               
Diversification of Assets
Country         % of Net Assets
Israel         88.5%
United States         7.5%
United Kingdom         0.8%
Singapore         0.6%
Total         97.4%
Money Market Fund         2.6%
Other Assets in Excess of Liabilities                                                     0.0%(c)
Grand Total         100.0%