UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-08228

Timothy Plan

(Exact name of registrant as specified in charter)

1055 Maitland Center Commons, Maitland, FL 32751

(Address of principal executive offices) (Zip code)

Citi Fund Services Ohio, Inc., 4400 Easton Commons, Suite 200, Columbus, OH 43219-8000

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 846-7526

Date of fiscal year end: December 31

Date of reporting period: June 30, 2026

Item 1. Reports to Stockholders.

(a)

Timothy Plan US Large/Mid Cap Core ETF

Ticker: TPLC Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan US Large/Mid Cap Core ETF (the "Fund") for the period of January 1, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan US Large/Mid Cap Core ETF	$27	0.52%

Footnote	Description
Footnote^*	Annualized

FUND STATISTICS

Table Summary
Net Assets	$304,269,774
Number of Portfolio Holdings	270
Portfolio Turnover Rate	20%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Consumer Staples	4.1%
Consumer Discretionary	5.9%
Energy	7.2%
Materials	8.1%
Health Care	9.5%
Utilities	11.2%
Financials	12.6%
Information Technology	16.3%
Industrials	24.7%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Alliant Energy Corp.	0.7%
Evergy, Inc.	0.7%
WEC Energy Group, Inc.	0.7%
DTE Energy Co.	0.7%
Ameren Corp.	0.7%
CenterPoint Energy, Inc.	0.7%
CMS Energy Corp.	0.7%
The Southern Co.	0.7%
Aflac, Inc.	0.7%
Palo Alto Networks, Inc.	0.7%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/

TPLC — SAR (6/26)

Timothy Plan High Dividend Stock ETF

Ticker: TPHD Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan High Dividend Stock ETF (the "Fund") for the period of January 1, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan High Dividend Stock ETF	$27	0.52%

Footnote	Description
Footnote^*	Annualized

FUND STATISTICS

Table Summary
Net Assets	$350,475,136
Number of Portfolio Holdings	101
Portfolio Turnover Rate	20%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Health Care	2.6%
Consumer Staples	4.3%
Consumer Discretionary	4.6%
Information Technology	5.2%
Materials	9.9%
Energy	14.0%
Financials	14.2%
Industrials	20.7%
Utilities	24.1%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Alliant Energy Corp.	1.7%
Evergy, Inc.	1.7%
WEC Energy Group, Inc.	1.7%
DTE Energy Co.	1.6%
Ameren Corp.	1.6%
CenterPoint Energy, Inc.	1.6%
CMS Energy Corp.	1.5%
The Southern Co.	1.5%
Aflac, Inc.	1.5%
Atmos Energy Corp.	1.5%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPHD — SAR (6/26)

Timothy Plan US Small Cap Core ETF

Ticker: TPSC Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan US Small Cap Core ETF (the "Fund") for the period of January 1, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan US Small Cap Core ETF	$29	0.52%

Footnote	Description
Footnote^*	Annualized

FUND STATISTICS

Table Summary
Net Assets	$359,432,062
Number of Portfolio Holdings	437
Portfolio Turnover Rate	30%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Real Estate	0.7%
Communication Services	0.8%
Consumer Staples	4.6%
Energy	4.9%
Materials	5.4%
Utilities	6.4%
Health Care	7.7%
Information Technology	11.9%
Consumer Discretionary	12.7%
Industrials	20.1%
Financials	24.6%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
IDACORP, Inc.	0.5%
The Hanover Insurance Group, Inc.	0.5%
New Jersey Resources Corp.	0.4%
American States Water Co.	0.4%
Southwest Gas Holdings, Inc.	0.4%
Watts Water Technologies, Inc., Class A	0.4%
Avista Corp.	0.4%
Portland General Electric Co.	0.4%
ONE Gas, Inc.	0.4%
MGE Energy, Inc.	0.4%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPSC — SAR (6/26)

Timothy Plan International ETF

Ticker: TPIF Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan International ETF (the "Fund") for the period of January 1, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last six months?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan International ETF	$32	0.62%

Footnote	Description
Footnote^*	Annualized

FUND STATISTICS

Table Summary
Net Assets	$244,572,686
Number of Portfolio Holdings	372
Portfolio Turnover Rate	18%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Communication Services	2.0%
Real Estate	2.1%
Consumer Staples	3.1%
Energy	5.8%
Health Care	6.0%
Consumer Discretionary	6.3%
Information Technology	7.4%
Materials	8.7%
Utilities	9.0%
Industrials	23.2%
Financials^{Footnote Reference**}	25.5%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
CLP Holdings Ltd.	0.7%
Great-West Lifeco, Inc.	0.6%
Fortis, Inc.	0.6%
Hydro One Ltd.	0.6%
Oversea-Chinese Banking Corp. Ltd.	0.6%
Emera, Inc.	0.6%
United Overseas Bank Ltd.	0.6%
Power Corp. of Canada	0.5%
DBS Group Holdings Ltd.	0.5%
Samsung Electro-Mechanics Co. Ltd.	0.5%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.
**	In the Schedule of Portfolio Investments, if a sector comprises more than 25% of the net assets of the Fund, the securities in that sector are displayed at the industry classification level.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPIF — SAR (6/26)

Timothy Plan Fixed Income ETF

Ticker: TPFI Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan Fixed Income ETF (the "Fund") for the period of May 5, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan Fixed Income ETF	$36^{Footnote Reference**}	0.55%

Footnote	Description
Footnote^*	Annualized
Footnote^**	The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.

FUND STATISTICS

Table Summary
Net Assets	$21,217,473
Number of Portfolio Holdings	331
Portfolio Turnover Rate	32%

Asset Allocation^{Footnote Reference*}^ (% of Net Assets)

(as of June 30, 2026)

Table Summary
Value	Value
U.S. Government Agency Mortgages	27.0%
U.S. Treasury Obligations	24.5%
Corporate Bonds	18.0%
Asset-Backed Securities	15.5%
Collateralized Mortgage Obligations	8.4%
Yankee Dollars	3.7%
Senior Secured Loans	2.1%
Other^{Footnote Reference**}	0.2%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.
**	Other includes the remaining asset classes which are each under 2% of the net assets of the Fund.
^	Percentages are of the net assets of the Fund and may not equal 100%.
	Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPFI — SAR (6/26)

Timothy Plan Free Cash Flow ETF

Ticker: TPFC Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan Free Cash Flow ETF (the "Fund") for the period of May 5, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan Free Cash Flow ETF	$38^{Footnote Reference**}	0.59%

Footnote	Description
Footnote^*	Annualized
Footnote^**	The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.

FUND STATISTICS

Table Summary
Net Assets	$39,221,174
Number of Portfolio Holdings	50
Portfolio Turnover Rate	-%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Consumer Staples	0.7%
Consumer Discretionary	3.7%
Utilities	6.4%
Industrials	7.1%
Materials	10.4%
Energy	21.6%
Health Care	22.8%
Information Technology^{Footnote Reference**}	27.2%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
ServiceNow, Inc.	4.4%
Phillips 66 Co.	4.0%
Vistra Corp.	3.7%
Diamondback Energy, Inc.	3.6%
NXP Semiconductors NV	3.5%
Humana, Inc.	3.4%
Devon Energy Corp.	3.3%
Coeur Mining, Inc.	3.3%
Tenet Healthcare Corp.	3.2%
Expand Energy Corp.	3.2%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.
**	In the Schedule of Portfolio Investments, if a sector comprises more than 25% of the net assets of the Fund, the securities in that sector are displayed at the industry classification level.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPFC — SAR (6/26)

Timothy Plan Free Cash Flow Growth ETF

Ticker: TPFG Exchange: NYSE

Semi-annual shareholder report — June 30, 2026

The semi-annual shareholder report contains important information about Timothy Plan Free Cash Flow Growth ETF (the "Fund") for the period of May 5, 2026 to June 30, 2026. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

What were the Fund's costs for the last reporting period?

(based on a hypothetical $10,000 investment)

Table Summary
FUND NAME	COSTS OF A $10,000 INVESTMENT	COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT^{Footnote Reference*}
Timothy Plan Free Cash Flow Growth ETF	$41^{Footnote Reference**}	0.59%

Footnote	Description
Footnote^*	Annualized
Footnote^**	The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.

FUND STATISTICS

Table Summary
Net Assets	$35,491,912
Number of Portfolio Holdings	50
Portfolio Turnover Rate	-%

Top Sectors^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Value	Value
Consumer Discretionary	1.5%
Consumer Staples	3.3%
Utilities	4.5%
Materials	5.1%
Health Care	9.2%
Industrials	24.9%
Information Technology^{Footnote Reference**}	51.4%

Top 10 Holdings^{Footnote Reference*} (% of Net Assets)^{Footnote Reference}

(as of June 30, 2026)

Table Summary
Seagate Technology Holdings PLC	6.2%
Western Digital Corp.	6.1%
KLA Corp.	5.6%
Caterpillar, Inc.	4.4%
Amphenol Corp., Class A	4.2%
GE Vernova, Inc.	4.0%
Vertiv Holdings Co., Class A	3.9%
Comfort Systems USA, Inc.	3.7%
Broadcom, Inc.	3.5%
Arista Networks, Inc.	3.4%

Table Summary
*	Does not include futures contracts, money market instruments, or other assets in excess of liabilities.
**	In the Schedule of Portfolio Investments, if a sector comprises more than 25% of the net assets of the Fund, the securities in that sector are displayed at the industry classification level.

Additional Information

Additional information about the Fund is available on etf.timothyplan.com and the adjacent QR code including:

Full Financials

Prospectus

Fund Holdings

Proxy Voting

TPFG — SAR (6/26)

(b) Not applicable.

Item 2. Code of Ethics.

Not applicable ^__ only for annual reports.

Item 3. Audit Committee Financial Expert.

Not applicable ^__ only for annual reports.

Item 4. Principal Accountant Fees and Services.

Not applicable ^__ only for annual reports.

Item 5. Audit Committee of Listed Registrants.

Not applicable ^__ only for annual reports.

Item 6. Investments.

(a) The Schedule of Investments in Securities of unaffiliated issuers is included as part of the Financial Statements filed under Item 7(a) of this Form.

(b) Not applicable.

Item 7. Financial Statements and Other Information.

(a)

SEMI-ANNUAL

Full

Financials

June

30,

2026

Listed

and

traded

on:

The

New

York

Stock

Exchange

Ticker

Symbol

TIMOTHY

PLAN

SMALL

CAP

CORE

ETF

TPSC

TIMOTHY

PLAN

LARGE/MID

CAP

CORE

ETF

TPLC

TIMOTHY

PLAN

HIGH

DIVIDEND

STOCK

ETF

TPHD

TIMOTHY

PLAN

INTERNATIONAL

ETF

TPIF

TIMOTHY

PLAN

FREE

CASH

FLOW

ETF

TPFC

TIMOTHY

PLAN

FREE

CASH

FLOW

GROWTH

ETF

TPFG

TIMOTHY

PLAN

FIXED

INCOME

ETF

TPFI

Table

Contents

•

NOT

FDIC

INSURED

•NO

BANK

GUARANTEE

•

MAY

LOSE

VALUE

•

INVESTMENTS

INVOLVE

RISK

•

PRINCIPAL

LOSS

POSSIBLE

Schedule

Portfolio

Investments

(Form

N-CSR

Item

.............................................................

Timothy

Plan

Small

Cap

Core

ETF

.....................................................................................................................................................................................................................................

Timothy

Plan

Large/Mid

Cap

Core

ETF

Timothy

Plan

High

Dividend

Stock

ETF

Timothy

Plan

International

ETF

Timothy

Plan

Free

Cash

Flow

ETF

Timothy

Plan

Free

Cash

Flow

Growth

ETF

Timothy

Plan

Fixed

Income

ETF

Financial

Statements

(Form

N-CSR

Item

.................................................................................

Statements

Assets

and

Liabilities

Statements

Operations

Statements

Changes

Net

Assets

Financial

Highlights

Notes

Financial

Statements

(Form

N-CSR

Item

...................................................................

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

..............................................

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.8%)

Communication

Services

(

Cargurus,

Inc.,

Class

A(a)

21,747‌

741,355‌

Iridium

Communications,

Inc.

12,277‌

673,393‌

Madison

Square

Garden

Entertainment

Corp.,

Class

A(a)

13,550‌

1,096,060‌

U.S.

Cellular

Corp.

13,757‌

498,829‌

3,009,637‌

Consumer

Discretionary

(

Academy

Sports

Outdoors,

Inc.

10,735‌

505,940‌

Acushnet

Holdings

Corp.

10,386‌

1,231,053‌

ADT,

Inc.

143,754‌

934,401‌

Asbury

Automotive

Group,

Inc.(a)

4,077‌

819,803‌

AutoNation,

Inc.(a)

4,806‌

892,907‌

Boot

Barn

Holdings,

Inc.(a)

4,098‌

673,178‌

Bright

Horizons

Family

Solutions,

Inc.(a)

7,470‌

529,474‌

Brinker

International,

Inc.(a)

3,945‌

662,760‌

Cavco

Industries,

Inc.(a)

1,078‌

662,302‌

Champion

Homes,

Inc.(a)

7,235‌

637,548‌

Columbia

Sportswear

Co.

11,032‌

681,998‌

Covista,

Inc.(a)

4,782‌

596,124‌

Dana,

Inc.

19,711‌

536,336‌

Dillard's,

Inc.,

Class

1,038‌

548,500‌

Dorman

Products,

Inc.(a)

7,024‌

958,425‌

Dutch

Bros,

Inc.,

Class

A(a)

8,728‌

626,758‌

Figs,

Inc.,

Class

A(a)

31,532‌

322,572‌

Five

Below,

Inc.(a)

3,235‌

581,621‌

Frontdoor,

Inc.(a)

10,929‌

847,981‌

Garrett

Motion,

Inc.

32,551‌

1,179,323‌

Gentex

Corp.

37,914‌

958,087‌

Global

Business

Travel

Group

I(a)

109,174‌

1,025,144‌

Graham

Holdings

Co.,

Class

864‌

986,187‌

Grand

Canyon

Education,

Inc.(a)

4,705‌

673,332‌

Green

Brick

Partners,

Inc.(a)

10,779‌

862,751‌

Group

Automotive,

Inc.

2,425‌

706,087‌

H&R

Block,

Inc.

25,964‌

988,709‌

Hilton

Grand

Vacations,

Inc.(a)

15,671‌

820,690‌

Installed

Building

Products,

Inc.

1,963‌

451,176‌

Home

14,258‌

892,408‌

Kontoor

Brands,

Inc.

7,258‌

604,882‌

Laureate

Education,

Inc.,

Class

A(a)

24,996‌

907,855‌

LCI

Industries

6,446‌

682,502‌

Lear

Corp.

6,700‌

898,202‌

Life

Time

Group

Holdings,

Inc.(a)

28,052‌

1,145,644‌

Lithia

Motors,

Inc.,

Class

2,979‌

865,370‌

LKQ

Corp.

24,683‌

649,903‌

M/I

Homes,

Inc.(a)

6,291‌

1,011,530‌

Meritage

Homes

Corp.

10,533‌

883,192‌

Mohawk

Industries,

Inc.(a)

7,054‌

855,862‌

Murphy

USA,

Inc.

1,487‌

801,300‌

National

Vision

Holdings,

Inc.(a)

23,376‌

444,378‌

OneSpaWorld

Holdings

Ltd.

34,268‌

967,728‌

Patrick

Industries,

Inc.

7,401‌

664,462‌

SECURITY

DESCRIPTION

VALUE

($)

Consumer

Discretionary

(12.7%):

(continued)

Perdoceo

Education

Corp.

24,260‌

776,320‌

Phinia,

Inc.

12,848‌

1,058,290‌

RH(a)

3,614‌

595,334‌

Sonic

Automotive,

Inc.,

Class

9,718‌

823,989‌

Steven

Madden

Ltd.

15,147‌

637,689‌

Stride,

Inc.(a)

3,841‌

331,248‌

Taylor

Morrison

Home

Corp.,

Class

A(a)

13,941‌

1,000,127‌

The

Buckle,

Inc.

17,219‌

726,642‌

The

Cheesecake

Factory,

Inc.

13,239‌

1,053,030‌

Thor

Industries,

Inc.

8,462‌

636,004‌

Vail

Resorts,

Inc.

5,826‌

793,210‌

Valvoline,

Inc.(a)

25,456‌

1,006,530‌

Visteon

Corp.

7,934‌

787,132‌

Warby

Parker,

Inc.,

Class

A(a)

17,885‌

542,631‌

YETI

Holdings,

Inc.(a)

17,309‌

857,834‌

45,802,395‌

Consumer

Staples

(

BellRing

Brands,

Inc.(a)

25,838‌

334,344‌

Cal-Maine

Foods,

Inc.

9,881‌

796,013‌

Central

Garden

Pet

Co.,

Class

A(a)

26,984‌

1,046,170‌

Darling

Ingredients,

Inc.(a)

11,164‌

609,778‌

Del

Monte

Corp.

22,190‌

619,323‌

Flowers

Foods,

Inc.

99,723‌

787,812‌

Freshpet,

Inc.(a)

8,010‌

473,551‌

Herbalife

Ltd.(a)

27,684‌

364,044‌

Interparfums,

Inc.

10,012‌

1,119,942‌

National

Beverage

Corp.(a)

29,028‌

905,674‌

Post

Holdings,

Inc.(a)

9,755‌

860,976‌

PriceSmart,

Inc.

5,825‌

1,137,855‌

Reynolds

Consumer

Products,

Inc.

45,631‌

1,225,192‌

Seaboard

Corp.

133‌

593,756‌

The

Andersons,

Inc.

10,928‌

747,475‌

The

Chefs'

Warehouse,

Inc.(a)

11,928‌

1,146,281‌

The

Marzetti

Company

7,025‌

801,974‌

The

Vita

Coco

Co.,

Inc.(a)

11,791‌

779,857‌

Tootsie

Roll

Industries,

Inc.

22,896‌

905,537‌

WD-40

Co.

4,523‌

1,101,984‌

16,357,538‌

Energy

(

APA

Corp.

15,486‌

504,379‌

Archrock,

Inc.

24,941‌

1,015,348‌

BKV

Corp.(a)

21,320‌

583,315‌

Cactus,

Inc.,

Class

11,610‌

594,780‌

California

Resources

Corp.

11,848‌

626,404‌

Centrus

Energy

Corp.,

Class

A(a)

1,583‌

265,738‌

Chord

Energy

Corp.

5,648‌

645,566‌

CNX

Resources

Corp.(a)

22,266‌

755,485‌

Comstock

Resources,

Inc.(a)

25,597‌

381,907‌

Crescent

Energy

Co.,

Class

41,238‌

404,957‌

CVR

Energy,

Inc.

16,826‌

463,388‌

Excelerate

Energy,

Inc.,

Class

20,470‌

777,655‌

Expro

Group

Holdings

NV(a)

26,097‌

385,453‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Energy

(4.9%):

(continued)

Flowco

Holdings,

Inc.,

Class

24,458‌

521,934‌

Gulfport

Energy

Corp.(a)

3,712‌

629,926‌

International

Seaways,

Inc.

9,740‌

745,987‌

Kinetik

Holdings,

Inc.,

Class

15,346‌

741,826‌

Kodiak

Gas

Services,

Inc.

12,466‌

936,571‌

Liberty

Energy,

Inc.,

Class

14,852‌

388,974‌

Magnolia

Oil

Gas

Corp.,

Class

31,253‌

799,452‌

Matador

Resources

Co.

11,449‌

569,931‌

Murphy

Oil

Corp.

14,912‌

485,535‌

Northern

Oil

Gas,

Inc.

21,772‌

395,162‌

NOV,

Inc.

34,561‌

641,107‌

Oceaneering

International,

Inc.(a)

16,531‌

669,836‌

Par

Pacific

Holdings,

Inc.(a)

8,109‌

454,753‌

Energy

Co.

19,705‌

514,300‌

Solaris

Energy

Infrastructure,

Inc.,

Class

5,583‌

449,208‌

Tidewater,

Inc.(a)

5,090‌

339,147‌

Venture

Global,

Inc.,

Class

26,740‌

297,616‌

Weatherford

International

PLC

6,380‌

519,970‌

17,505,610‌

Financials

(

Affiliated

Managers

Group,

Inc.

2,944‌

996,250‌

Ameris

Bancorp

12,307‌

1,110,830‌

Artisan

Partners

Asset

Management,

Inc.,

Class

28,714‌

991,494‌

Associated

Banc-Corp.

34,813‌

1,071,196‌

Assured

Guaranty

Ltd.

16,510‌

1,323,442‌

Atlantic

Union

Bankshares

Corp.

22,832‌

966,022‌

Axis

Capital

Holdings

Ltd.

12,115‌

1,301,636‌

Axos

Financial,

Inc.(a)

8,991‌

875,633‌

Banc

California,

Inc.

44,743‌

914,099‌

BancFirst

Corp.

8,128‌

903,265‌

Bank

Hawaii

Corp.

13,047‌

1,063,200‌

Bank

OZK

21,832‌

1,137,229‌

BankUnited,

Inc.

18,103‌

877,090‌

Beacon

Financial

Corp.

29,565‌

900,254‌

BGC

Group,

Inc.,

Class

84,288‌

901,039‌

BOK

Financial

Corp.

8,073‌

1,121,178‌

Cathay

General

Bancorp

18,449‌

1,143,654‌

CNO

Financial

Group,

Inc.

27,071‌

1,380,080‌

Cohen

Steers,

Inc.

15,265‌

1,162,277‌

Columbia

Banking

System,

Inc.

28,221‌

904,483‌

Community

Financial

System,

Inc.

16,579‌

1,112,782‌

Credit

Acceptance

Corp.(a)

1,341‌

853,868‌

CVB

Financial

Corp.

46,951‌

1,058,745‌

Essent

Group

Ltd.

19,985‌

1,284,636‌

Euronet

Worldwide,

Inc.(a)

12,326‌

902,140‌

Financial

Corp.

16,186‌

895,895‌

Federated

Hermes,

Inc.,

Class

22,028‌

1,216,386‌

First

American

Financial

Corp.

15,313‌

1,050,319‌

First

Bancorp

45,004‌

1,173,254‌

First

Financial

Bancorp

33,168‌

1,122,073‌

First

Financial

Bankshares,

Inc.

31,911‌

1,104,121‌

SECURITY

DESCRIPTION

VALUE

($)

Financials

(24.6%):

(continued)

First

Hawaiian,

Inc.

40,197‌

1,177,772‌

First

Interstate

BancSystem,

Inc.,

Class

25,864‌

997,316‌

First

Merchants

Corp.

25,317‌

1,106,100‌

FirstCash

Holdings,

Inc.

4,668‌

1,009,782‌

FNB

Corp.

56,079‌

1,069,987‌

Fulton

Financial

Corp.

43,486‌

1,051,926‌

Genworth

Financial,

Inc.,

Class

A(a)

123,082‌

1,165,587‌

Glacier

Bancorp,

Inc.

17,611‌

908,375‌

Sustainable

Infrastructure

Capital,

Inc.

20,049‌

782,913‌

Hamilton

Lane,

Inc.,

Class

7,363‌

580,425‌

Hancock

Whitney

Corp.

14,512‌

1,084,337‌

Home

Bancshares,

Inc.

40,466‌

1,155,304‌

Independent

Bank

Corp.

11,708‌

980,194‌

International

Bancshares

Corp.

15,108‌

1,147,453‌

Lazard,

Inc.,

Class

16,244‌

681,273‌

Mercury

General

Corp.

10,767‌

1,147,978‌

MGIC

Investment

Corp.

42,650‌

1,202,730‌

Moelis

Co.,

Class

12,294‌

804,273‌

Nelnet,

Inc.,

Class

9,580‌

1,277,301‌

Nicolet

Bankshares,

Inc.

5,251‌

868,463‌

NMI

Holdings,

Inc.,

Class

A(a)

29,684‌

1,219,716‌

OneMain

Holdings,

Inc.,

Class

15,720‌

958,448‌

Palomar

Holdings,

Inc.(a)

5,530‌

698,937‌

Park

National

Corp.

5,866‌

1,073,419‌

PennyMac

Financial

Services,

Inc.

5,643‌

491,505‌

Pinnacle

Financial

Partners,

Inc.

8,755‌

883,204‌

Piper

Sandler

Cos.

9,090‌

657,571‌

PJT

Partners,

Inc.,

Class

5,937‌

896,131‌

Prosperity

Bancshares,

Inc.

15,479‌

1,130,431‌

Provident

Financial

Services,

Inc.

42,869‌

1,013,423‌

Radian

Group,

Inc.

32,817‌

1,236,216‌

Remitly

Global,

Inc.(a)

26,044‌

583,646‌

Renasant

Corp.

24,035‌

1,022,449‌

RLI

Corp.

21,085‌

1,245,491‌

Seacoast

Banking

Corp.

Florida

29,284‌

973,693‌

Selective

Insurance

Group,

Inc.

10,705‌

1,038,492‌

ServisFirst

Bancshares,

Inc.

9,801‌

850,237‌

Shift4

Payments,

Inc.,

Class

A(a)

11,554‌

561,987‌

SiriusPoint

Ltd.(a)

41,379‌

993,096‌

SLM

Corp.

30,418‌

789,043‌

StoneX

Group,

Inc.(a)

6,831‌

809,474‌

Texas

Capital

Bancshares,

Inc.

8,702‌

898,569‌

The

Hanover

Insurance

Group,

Inc.

7,790‌

1,667,995‌

The

Western

Union

Co.

95,548‌

735,720‌

Towne

Bank

31,712‌

1,149,243‌

Trustmark

Corp.

23,908‌

1,100,007‌

United

Bankshares,

Inc.

24,462‌

1,121,093‌

United

Community

Banks,

Inc.

29,592‌

1,038,383‌

Valley

National

Bancorp

68,478‌

1,003,203‌

Virtu

Financial,

Inc.,

Class

19,491‌

1,161,079‌

Voya

Financial,

Inc.

13,303‌

1,204,321‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Financials

(24.6%):

(continued)

WaFd,

Inc.

33,724‌

1,293,990‌

WesBanco,

Inc.

26,211‌

1,023,015‌

WEX,

Inc.(a)

4,891‌

690,071‌

White

Mountains

Insurance

Group

Ltd.

457‌

947,539‌

WSFS

Financial

Corp.

14,710‌

1,128,698‌

88,307,594‌

Health

Care

(

ACADIA

Pharmaceuticals,

Inc.(a)

30,584‌

773,775‌

ADMA

Biologics,

Inc.(a)

47,569‌

398,153‌

Alkermes

PLC(a)

17,848‌

935,146‌

Arrowhead

Pharmaceuticals,

Inc.(a)

5,702‌

464,770‌

BioCryst

Pharmaceuticals,

Inc.(a)

59,595‌

595,950‌

Bio-Rad

Laboratories,

Inc.,

Class

A(a)

2,358‌

692,332‌

BrightSpring

Health

Services,

Inc.(a)

14,198‌

990,169‌

Catalyst

Pharmaceuticals,

Inc.(a)

30,669‌

963,927‌

Chemed

Corp.

2,160‌

1,005,998‌

Concentra

Group

Holdings

Parent,

Inc.

43,375‌

1,290,406‌

Corcept

Therapeutics,

Inc.(a)

7,449‌

647,691‌

CorVel

Corp.(a)

11,492‌

718,480‌

Envista

Holdings

Corp.(a)

24,402‌

642,993‌

Globus

Medical,

Inc.,

Class

A(a)

5,548‌

438,347‌

Guardian

Pharmacy

Services,

Inc.,

Class

A(a)

14,830‌

620,932‌

Haemonetics

Corp.(a)

7,898‌

592,350‌

ICU

Medical,

Inc.(a)

5,399‌

791,493‌

Integer

Holdings

Corp.(a)

6,521‌

609,387‌

Krystal

Biotech,

Inc.(a)

2,549‌

947,387‌

Lantheus

Holdings,

Inc.(a)

6,361‌

705,689‌

LeMaitre

Vascular,

Inc.

6,031‌

578,735‌

LifeStance

Health

Group,

Inc.(a)

75,627‌

809,965‌

Ligand

Pharmaceuticals,

Inc.(a)

3,754‌

1,186,602‌

Merit

Medical

Systems,

Inc.(a)

13,010‌

902,113‌

National

HealthCare

Corp.

5,117‌

1,081,529‌

Option

Care

Health,

Inc.(a)

29,105‌

610,332‌

Pacs

Group,

Inc.(a)

6,589‌

280,955‌

Phibro

Animal

Health

Corp.,

Class

8,669‌

272,207‌

Prestige

Consumer

Healthcare,

Inc.(a)

18,554‌

877,048‌

Privia

Health

Group,

Inc.(a)

35,132‌

903,946‌

PTC

Therapeutics,

Inc.(a)

9,230‌

752,891‌

Repligen

Corp.(a)

5,164‌

704,576‌

Sotera

Health

Co.(a)

41,598‌

738,364‌

Stoke

Therapeutics,

Inc.(a)

10,418‌

340,877‌

Therapeutics,

Inc.(a)

17,373‌

954,473‌

TransMedics

Group,

Inc.(a)

4,535‌

301,215‌

Veracyte,

Inc.(a)

14,385‌

844,831‌

Waystar

Holding

Corp.(a)

29,520‌

606,046‌

27,572,080‌

Industrials

(

AAON,

Inc.

5,427‌

688,469‌

AAR

Corp.(a)

5,221‌

746,237‌

SECURITY

DESCRIPTION

VALUE

($)

Industrials

(20.1%):

(continued)

ABM

Industries,

Inc.

23,930‌

1,058,663‌

Alamo

Group,

Inc.

4,538‌

746,456‌

Allison

Transmission

Holdings,

Inc.

8,161‌

920,071‌

Amentum

Holdings,

Inc.(a)

21,091‌

435,951‌

ArcBest

Corp.

4,957‌

711,528‌

Arcosa,

Inc.

6,504‌

944,966‌

Argan,

Inc.

539‌

430,418‌

Astronics

Corp.(a)

8,342‌

677,871‌

Astronics

Corp.,

Class

B(a)

0‌

†

30‌

Atmus

Filtration

Technologies,

Inc.

14,005‌

714,115‌

AZZ,

Inc.

7,002‌

1,085,660‌

Boise

Cascade

Co.

8,644‌

671,034‌

Brady

Corp.,

Class

14,456‌

1,323,736‌

Casella

Waste

Systems,

Inc.,

Class

A(a)

9,619‌

932,754‌

Centuri

Holdings,

Inc.(a)

20,448‌

618,347‌

Construction

Partners,

Inc.,

Class

A(a)

5,011‌

595,156‌

CSW

Industrials,

Inc.

2,278‌

633,967‌

DXP

Enterprises,

Inc.(a)

3,400‌

573,716‌

Enerpac

Tool

Group

Corp.,

Class

23,698‌

849,810‌

EnerSys

3,922‌

917,042‌

Enpro,

Inc.

2,782‌

1,048,619‌

ESCO

Technologies,

Inc.

2,917‌

1,021,067‌

Everus

Construction

Group,

Inc.(a)

3,406‌

565,226‌

ExlService

Holdings,

Inc.(a)

25,558‌

660,930‌

Exponent,

Inc.

12,772‌

750,483‌

Flowserve

Corp.

6,669‌

494,573‌

Fortune

Brands

Innovations,

Inc.

14,827‌

814,002‌

Franklin

Electric

Co.,

Inc.

9,323‌

999,332‌

FTI

Consulting,

Inc.(a)

5,564‌

829,092‌

GATX

Corp.

6,599‌

1,169,277‌

Genpact

Ltd.

21,883‌

601,782‌

Granite

Construction,

Inc.

8,670‌

1,370,554‌

Griffon

Corp.

9,668‌

942,920‌

GXO

Logistics,

Inc.(a)

14,493‌

734,795‌

Hayward

Holdings,

Inc.(a)

59,221‌

1,025,115‌

Helios

Technologies,

Inc.

7,167‌

639,655‌

Hexcel

Corp.

10,261‌

1,026,716‌

HNI

Corp.

24,230‌

979,134‌

Huron

Consulting

Group,

Inc.(a)

5,679‌

512,019‌

IES

Holdings,

Inc.(a)

763‌

560,546‌

Kadant,

Inc.

2,278‌

715,816‌

Karman

Holdings,

Inc.(a)

4,509‌

225,089‌

KBR,

Inc.

23,829‌

822,815‌

Kennametal,

Inc.

15,753‌

552,143‌

Kirby

Corp.(a)

4,784‌

650,480‌

Knight-Swift

Transportation

Holdings,

Inc.

11,275‌

877,984‌

Korn

Ferry

15,389‌

1,024,600‌

Landstar

System,

Inc.

4,258‌

880,597‌

Loar

Holdings,

Inc.(a)

11,670‌

940,719‌

Matson,

Inc.

4,095‌

787,182‌

Maximus,

Inc.

11,908‌

640,174‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Industrials

(20.1%):

(continued)

McGrath

RentCorp

8,287‌

1,002,976‌

Modine

Manufacturing

Co.(a)

1,632‌

435,777‌

Moog,

Inc.,

Class

2,813‌

1,192,262‌

MSA

Safety,

Inc.

6,486‌

1,132,326‌

MSC

Industrial

Direct

Co.,

Inc.,

Class

10,735‌

1,276,928‌

Mueller

Water

Products,

Inc.,

Class

33,765‌

872,150‌

MYR

Group,

Inc.(a)

2,032‌

1,016,813‌

Powell

Industries,

Inc.

1,947‌

557,543‌

Primoris

Services

Corp.

3,358‌

332,845‌

Robert

Half,

Inc.

20,546‌

630,762‌

Rush

Enterprises,

Inc.,

Class

12,218‌

891,731‌

Ryder

System,

Inc.

3,655‌

964,079‌

Schneider

National,

Inc.,

Class

24,243‌

885,597‌

Science

Applications

International

Corp.

7,002‌

773,091‌

Simpson

Manufacturing

Co.,

Inc.

5,017‌

1,050,309‌

SiteOne

Landscape

Supply,

Inc.(a)

5,065‌

579,487‌

SkyWest,

Inc.(a)

7,956‌

790,269‌

Standex

International

Corp.

2,770‌

990,746‌

Tecnoglass,

Inc.

15,307‌

716,521‌

Terex

Corp.

8,522‌

616,908‌

The

Brink's

Co.

6,987‌

660,202‌

The

GEO

Group,

Inc.(a)

29,478‌

871,075‌

The

Timken

Co.

8,081‌

1,174,331‌

The

Toro

Co.

10,655‌

1,038,010‌

Trex

Co.,

Inc.(a)

13,015‌

651,271‌

Trinity

Industries,

Inc.

24,135‌

834,588‌

UFP

Industries,

Inc.

9,969‌

904,587‌

Solutions,

Inc.,

Class

7,668‌

781,062‌

UniFirst

Corp.

2,576‌

681,249‌

V2X,

Inc.(a)

9,605‌

716,149‌

Valmont

Industries,

Inc.

2,313‌

1,335,989‌

Verra

Mobility

Corp.,

Class

A(a)

60,623‌

257,648‌

Vicor

Corp.(a)

1,789‌

679,426‌

VSE

Corp.

2,576‌

588,616‌

Watts

Water

Technologies,

Inc.,

Class

3,721‌

1,456,585‌

Worthington

Enterprises,

Inc.

15,818‌

850,376‌

Zurn

Elkay

Water

Solutions

Corp.

19,392‌

979,878‌

72,309,595‌

Information

Technology

(

ACI

Worldwide,

Inc.(a)

20,488‌

1,030,342‌

ACM

Research,

Inc.,

Class

A(a)

7,357‌

933,530‌

Adeia,

Inc.

16,165‌

532,313‌

Advanced

Energy

Industries,

Inc.

1,385‌

516,425‌

Agilysys,

Inc.(a)

8,036‌

839,762‌

Alarm.com

Holdings,

Inc.(a)

21,120‌

986,726‌

Amkor

Technology,

Inc.

7,178‌

618,959‌

Appfolio,

Inc.,

Class

A(a)

4,215‌

675,875‌

Arrow

Electronics,

Inc.(a)

4,986‌

1,064,062‌

AvePoint,

Inc.(a)

66,379‌

744,109‌

Avnet,

Inc.

12,721‌

1,129,879‌

SECURITY

DESCRIPTION

VALUE

($)

Information

Technology

(11.9%):

(continued)

Axcelis

Technologies,

Inc.(a)

4,733‌

896,667‌

Badger

Meter,

Inc.

4,361‌

647,085‌

Bel

Fuse,

Inc.,

Class

2,331‌

776,316‌

Belden,

Inc.

6,011‌

720,779‌

Benchmark

Electronics,

Inc.

11,908‌

1,174,962‌

Blackbaud,

Inc.(a)

19,626‌

581,322‌

BlackLine,

Inc.(a)

20,661‌

579,954‌

Calix,

Inc.(a)

14,127‌

527,220‌

Cirrus

Logic,

Inc.(a)

4,789‌

711,310‌

Clear

Secure,

Inc.,

Class

8,348‌

465,234‌

Cognex

Corp.

7,706‌

558,069‌

Crane

NXT

Co.

16,842‌

861,637‌

Diebold

Nixdorf,

Inc.(a)

8,993‌

764,585‌

DigitalOcean

Holdings,

Inc.(a)

4,216‌

662,039‌

Diodes,

Inc.(a)

5,707‌

624,574‌

Dolby

Laboratories,

Inc.,

Class

18,311‌

962,792‌

Dropbox,

Inc.,

Class

A(a)

42,842‌

1,176,870‌

DXC

Technology

Co.(a)

48,293‌

427,393‌

Enphase

Energy,

Inc.(a)

11,008‌

542,034‌

ePlus,

Inc.

9,369‌

779,782‌

FormFactor,

Inc.(a)

3,149‌

503,620‌

Freshworks,

Inc.,

Class

A(a)

75,131‌

760,326‌

Insight

Enterprises,

Inc.(a)

8,939‌

1,088,770‌

InterDigital,

Inc.

1,652‌

467,731‌

IPG

Photonics

Corp.(a)

3,356‌

393,726‌

Itron,

Inc.(a)

6,453‌

558,378‌

Knowles

Corp.(a)

27,625‌

1,145,885‌

Lattice

Semiconductor

Corp.(a)

4,603‌

704,075‌

Life360,

Inc.(a)

9,329‌

516,453‌

Lumentum

Holdings,

Inc.(a)

337‌

289,166‌

Mirion

Technologies,

Inc.,

Class

A(a)

24,119‌

432,454‌

MKS,

Inc.

1,863‌

828,662‌

NetScout

Systems,

Inc.(a)

27,828‌

1,211,909‌

Onto

Innovation,

Inc.(a)

1,927‌

729,273‌

OSI

Systems,

Inc.(a)

2,217‌

484,858‌

Photronics,

Inc.(a)

7,469‌

242,967‌

Plexus

Corp.(a)

2,839‌

853,602‌

Power

Integrations,

Inc.

9,037‌

756,939‌

Holdings,

Inc.(a)

14,108‌

678,595‌

Qualys,

Inc.(a)

8,029‌

1,103,907‌

RingCentral,

Inc.,

Class

10,192‌

397,284‌

Semtech

Corp.(a)

4,999‌

809,088‌

SPS

Commerce,

Inc.(a)

10,283‌

587,879‌

Teradata

Corp.(a)

16,081‌

557,207‌

TTM

Technologies,

Inc.(a)

3,349‌

626,330‌

UiPath,

Inc.,

Class

A(a)

39,657‌

431,072‌

Universal

Display

Corp.

7,633‌

660,941‌

Vertex,

Inc.,

Class

A(a)

43,087‌

494,639‌

Vistance

Networks,

Inc.(a)

26,748‌

341,839‌

Vontier

Corp.

24,772‌

718,388‌

42,888,569‌

Materials

(

Avient

Corp.

21,482‌

793,975‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

VALUE

($)

Materials

(5.4%):

(continued)

Balchem

Corp.

7,107‌

1,200,728‌

Cabot

Corp.

10,860‌

986,305‌

Century

Aluminum

Co.(a)

6,181‌

284,388‌

Coeur

Mining,

Inc.

18,116‌

295,653‌

Commercial

Metals

Co.

11,649‌

730,975‌

Eagle

Materials

3,889‌

875,025‌

Element

Solutions,

Inc.

18,538‌

885,189‌

Graphic

Packaging

Holding

Co.

65,430‌

691,595‌

Greif,

Inc.,

Class

16,519‌

1,230,500‌

H.B.

Fuller

Co.

13,309‌

775,782‌

Hawkins,

Inc.

4,582‌

651,102‌

Hecla

Mining

Co.

18,072‌

278,851‌

Kaiser

Aluminum

Corp.

4,087‌

799,540‌

Knife

River

Corp.(a)

6,819‌

570,409‌

Louisiana-Pacific

Corp.

8,753‌

688,511‌

Materion

Corp.

3,756‌

1,116,997‌

NewMarket

Corp.

1,299‌

1,027,821‌

Sensient

Technologies

Corp.

10,099‌

1,245,106‌

Silgan

Holdings,

Inc.

18,644‌

864,895‌

Sonoco

Products

Co.

18,366‌

1,034,924‌

The

Scotts

Miracle-Gro

Co.

13,195‌

898,711‌

United

States

Lime

Minerals,

Inc.

5,056‌

529,212‌

Warrior

Met

Coal,

Inc.

5,672‌

460,340‌

Worthington

Steel,

Inc.

17,354‌

582,747‌

19,499,281‌

Real

Estate

(

Howard

Hughes

Holdings,

Inc.(a)

13,284‌

949,673‌

Newmark

Group,

Inc.,

Class

45,410‌

686,145‌

The

St.

Joe

Co.

12,455‌

780,057‌

2,415,875‌

Utilities

(

American

States

Water

Co.

17,796‌

1,470,484‌

Avista

Corp.

35,507‌

1,452,591‌

Black

Hills

Corp.

18,394‌

1,368,514‌

California

Water

Service

Group

24,566‌

1,195,136‌

Chesapeake

Utilities

Corp.

10,687‌

1,308,944‌

Clearway

Energy,

Inc.,

Class

23,047‌

787,746‌

Hawaiian

Electric

Industries,

Inc.(a)

50,159‌

678,651‌

IDACORP,

Inc.

11,470‌

1,735,411‌

MDU

Resources

Group,

Inc.

53,811‌

1,141,331‌

MGE

Energy,

Inc.

17,062‌

1,391,236‌

New

Jersey

Resources

Corp.

27,159‌

1,521,990‌

Northwest

Natural

Holding

Co.

26,502‌

1,300,188‌

ONE

Gas,

Inc.

18,286‌

1,409,302‌

Ormat

Technologies,

Inc.

8,231‌

896,356‌

Otter

Tail

Corp.

13,250‌

1,192,235‌

Portland

General

Electric

Co.

27,249‌

1,412,316‌

Southwest

Gas

Holdings,

Inc.

16,511‌

1,464,195‌

Spire,

Inc.

15,835‌

1,236,555‌

22,963,181‌

Total

Common

Stocks

(Cost

$303,848,091)

358,631,355‌

SECURITY

DESCRIPTION

VALUE

($)

Utilities

(6.4%):

(continued)

Total

Investments

(Cost

$303,848,091)

—

99.8%

358,631,355‌

Other

assets

excess

liabilities

—

0.2%

800,707‌

359,432,062‌

(a)

Non-income

producing

security.

†

Represents

less

than

0.05

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Small

Cap

Core

ETF

See

notes

financial

statements.

Futures

Contracts

Long

Futures

Index

Futures

Expiration

Date

Number

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

E-Mini

Russell

2000

Index

Futures

9/18/26

600,889‌

609,120‌

8,231‌

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

Large/Mid

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.8%)

Consumer

Discretionary

(

Aptiv

PLC(a)

16,046‌

984,903‌

Carvana

Co.,

Class

A(a)

7,920‌

521,294‌

Chipotle

Mexican

Grill,

Inc.,

Class

A(a)

23,389‌

795,226‌

Coupang,

Inc.,

Class

A(a)

41,659‌

723,617‌

D.R.

Horton,

Inc.

5,662‌

922,227‌

Deckers

Outdoor

Corp.(a)

6,142‌

609,839‌

Domino's

Pizza,

Inc.

3,552‌

1,051,534‌

Garmin

Ltd.

4,041‌

959,899‌

Genuine

Parts

Co.

9,978‌

1,177,204‌

Lennar

Corp.,

Class

9,722‌

879,744‌

NVR,

Inc.(a)

184‌

1,253,666‌

O'Reilly

Automotive,

Inc.(a)

16,223‌

1,493,976‌

PulteGroup,

Inc.

7,767‌

1,065,710‌

Ross

Stores,

Inc.

6,250‌

1,330,313‌

Somnigroup

International,

Inc.

12,183‌

955,147‌

Toll

Brothers,

Inc.

7,128‌

1,174,338‌

Tractor

Supply

Co.

27,679‌

874,933‌

Williams-Sonoma,

Inc.

4,987‌

1,162,470‌

17,936,040‌

Consumer

Staples

(

BJ's

Wholesale

Club

Holdings,

Inc.(a)

12,157‌

1,060,334‌

Bunge

Global

8,494‌

906,565‌

Casey's

General

Stores,

Inc.

1,878‌

1,492,616‌

Celsius

Holdings,

Inc.(a)

15,148‌

443,533‌

Coca-Cola

Consolidated,

Inc.

5,251‌

1,002,521‌

Costco

Wholesale

Corp.

1,728‌

1,616,492‌

Dollar

General

Corp.

7,759‌

893,138‌

Hormel

Foods

Corp.

54,317‌

1,348,148‌

Kimberly-Clark

Corp.

12,856‌

1,411,203‌

McCormick

Co.,

Inc.

22,516‌

1,135,257‌

U.S.

Foods

Holding

Corp.(a)

12,132‌

1,240,497‌

12,550,304‌

Energy

(

Baker

Hughes

Co.,

Class

15,482‌

859,251‌

Cheniere

Energy,

Inc.

4,720‌

1,128,127‌

ConocoPhillips

Co.

9,492‌

986,788‌

Devon

Energy

Corp.

21,714‌

897,223‌

Diamondback

Energy,

Inc.

6,005‌

1,055,559‌

Midstream,

Inc.

11,651‌

1,709,668‌

EOG

Resources,

Inc.

9,643‌

1,250,986‌

EQT

Corp.

16,336‌

868,585‌

Expand

Energy

Corp.

9,794‌

893,115‌

Halliburton

Co.

23,938‌

812,695‌

Kinder

Morgan,

Inc.

49,646‌

1,587,183‌

Occidental

Petroleum

Corp.

17,155‌

833,218‌

Ovintiv,

Inc.

16,692‌

878,834‌

Permian

Resources

Corp.,

Class

49,481‌

910,945‌

Phillips

Co.

7,050‌

1,191,803‌

SLB

Ltd.

18,013‌

837,424‌

Targa

Resources

Corp.

4,909‌

1,316,299‌

Texas

Pacific

Land

Corp.

1,901‌

831,954‌

SECURITY

DESCRIPTION

VALUE

($)

Energy

(7.2%):

(continued)

The

Williams

Cos.,

Inc.

20,460‌

1,520,996‌

Valero

Energy

Corp.

4,072‌

1,060,512‌

Venture

Global,

Inc.,

Class

32,718‌

364,151‌

21,795,316‌

Financials

(

Affirm

Holdings,

Inc.,

Class

A(a)

10,643‌

867,937‌

Aflac,

Inc.

16,898‌

1,981,291‌

Arch

Capital

Group

Ltd.(a)

16,657‌

1,616,728‌

Arthur

Gallagher

Co.

5,202‌

1,194,223‌

Blue

Owl

Capital,

Inc.,

Class

91,286‌

798,752‌

Brown

Brown,

Inc.

17,274‌

1,108,127‌

Cboe

Global

Markets,

Inc.

5,257‌

1,275,716‌

Cincinnati

Financial

Corp.

9,745‌

1,804,189‌

CME

Group,

Inc.,

Class

5,718‌

1,262,706‌

Corpay,

Inc.(a)

2,891‌

963,484‌

East

West

Bancorp,

Inc.

10,280‌

1,327,045‌

Everest

Group

Ltd.

4,043‌

1,444,281‌

Fidelity

National

Information

Services,

Inc.

25,279‌

982,848‌

First

Citizens

Bancshares,

Inc.,

Class

557‌

1,159,000‌

Franklin

Resources,

Inc.

49,450‌

1,645,202‌

Global

Payments,

Inc.

12,135‌

880,516‌

Interactive

Brokers

Group,

Inc.,

Class

11,750‌

1,022,720‌

Intercontinental

Exchange,

Inc.

8,892‌

1,094,694‌

LPL

Financial

Holdings,

Inc.

2,835‌

798,563‌

Markel

Group,

Inc.(a)

933‌

1,822,158‌

MSCI,

Inc.,

Class

1,995‌

1,117,280‌

Nasdaq,

Inc.

15,372‌

1,211,621‌

Pinnacle

Financial

Partners,

Inc.

10,714‌

1,080,828‌

Principal

Financial

Group,

Inc.

15,490‌

1,669,512‌

Reinsurance

Group

America,

Inc.

6,280‌

1,335,442‌

RenaissanceRe

Holdings

Ltd.

4,501‌

1,426,367‌

SoFi

Technologies,

Inc.(a)

36,046‌

646,305‌

The

Progressive

Corp.

6,941‌

1,516,261‌

Toast,

Inc.,

Class

A(a)

29,151‌

810,981‌

Tradeweb

Markets,

Inc.,

Class

9,690‌

965,705‌

W.R.

Berkley

Corp.

22,930‌

1,617,253‌

38,447,735‌

Health

Care

(

Agilent

Technologies,

Inc.

9,954‌

1,322,190‌

Align

Technology,

Inc.(a)

3,227‌

544,266‌

Alnylam

Pharmaceuticals,

Inc.(a)

2,625‌

790,204‌

Dexcom,

Inc.(a)

12,405‌

835,477‌

Edwards

Lifesciences

Corp.(a)

17,518‌

1,584,678‌

HealthCare

Technologies,

Inc.

14,811‌

948,052‌

Globus

Medical,

Inc.,

Class

A(a)

6,791‌

536,557‌

HCA

Healthcare,

Inc.

2,435‌

949,382‌

Humana,

Inc.

3,237‌

1,285,801‌

IDEXX

Laboratories,

Inc.(a)

1,205‌

634,360‌

Illumina,

Inc.(a)

5,232‌

919,942‌

Incyte

Corp.(a)

9,977‌

1,130,993‌

Insulet

Corp.(a)

4,887‌

744,046‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Large/Mid

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Health

Care

(9.5%):

(continued)

Intuitive

Surgical,

Inc.(a)

2,370‌

942,502‌

IQVIA

Holdings,

Inc.(a)

4,556‌

880,310‌

Medpace

Holdings,

Inc.(a)

866‌

458,625‌

Mettler-Toledo

International,

Inc.(a)

894‌

1,142,094‌

Neurocrine

Biosciences,

Inc.(a)

8,000‌

1,348,280‌

Quest

Diagnostics,

Inc.

6,996‌

1,482,802‌

ResMed,

Inc.

6,023‌

1,173,762‌

Solventum

Corp.(a)

17,898‌

1,380,831‌

STERIS

PLC

5,923‌

1,247,206‌

Stryker

Corp.

4,596‌

1,447,005‌

Tenet

Healthcare

Corp.(a)

3,962‌

741,211‌

United

Therapeutics

Corp.(a)

1,042‌

564,587‌

Veeva

Systems,

Inc.,

Class

A(a)

6,299‌

1,117,883‌

Waters

Corp.(a)

3,046‌

1,142,372‌

West

Pharmaceutical

Services,

Inc.

2,895‌

1,039,305‌

Zoetis,

Inc.,

Class

9,723‌

698,695‌

29,033,418‌

Industrials

(

AMETEK,

Inc.

6,492‌

1,570,675‌

ATI,

Inc.(a)

4,726‌

931,495‌

Axon

Enterprise,

Inc.(a)

1,725‌

967,052‌

BWX

Technologies,

Inc.

2,979‌

579,862‌

C.H.

Robinson

Worldwide,

Inc.

4,312‌

812,122‌

Carpenter

Technology

Corp.

1,483‌

914,774‌

Carrier

Global

Corp.

16,245‌

1,191,571‌

Caterpillar,

Inc.

1,223‌

1,302,373‌

Cintas

Corp.

9,662‌

1,643,313‌

Clean

Harbors,

Inc.(a)

3,945‌

1,178,569‌

Comfort

Systems

USA,

Inc.

357‌

707,556‌

Copart,

Inc.(a)

40,132‌

1,131,321‌

CSX

Corp.

34,487‌

1,639,167‌

Curtiss-Wright

Corp.

1,294‌

980,541‌

Deere

Co.

1,796‌

1,139,257‌

Dover

Corp.

6,104‌

1,369,005‌

EMCOR

Group,

Inc.

997‌

827,390‌

Equifax,

Inc.

4,858‌

771,062‌

Expeditors

International

Washington,

Inc.

7,161‌

1,167,100‌

Fastenal

Co.

27,592‌

1,325,244‌

Ferguson

Enterprises,

Inc.

4,309‌

1,022,655‌

Fortive

Corp.

19,921‌

1,216,974‌

FTAI

Aviation

Ltd.

2,110‌

570,818‌

Vernova,

Inc.

664‌

780,107‌

General

Dynamics

Corp.

4,679‌

1,657,489‌

Graco,

Inc.

19,551‌

1,478,251‌

HEICO

Corp.

3,701‌

1,318,259‌

Howmet

Aerospace,

Inc.

4,432‌

1,191,588‌

Hubbell,

Inc.,

Class

2,099‌

1,098,197‌

Huntington

Ingalls

Industries,

Inc.

2,315‌

647,945‌

IDEX

Corp.

6,073‌

1,378,267‌

Illinois

Tool

Works,

Inc.

5,858‌

1,584,413‌

Ingersoll

Rand,

Inc.

11,287‌

925,421‌

ITT,

Inc.

4,877‌

964,476‌

SECURITY

DESCRIPTION

VALUE

($)

Industrials

(24.7%):

(continued)

J.B.

Hunt

Transport

Services,

Inc.

3,629‌

1,050,341‌

Lennox

International,

Inc.

1,902‌

1,089,751‌

Lincoln

Electric

Holdings,

Inc.

4,683‌

1,243,383‌

MasTec,

Inc.(a)

2,301‌

957,354‌

Nextpower,

Inc.,

Class

A(a)

4,624‌

550,903‌

Old

Dominion

Freight

Line,

Inc.

3,915‌

847,989‌

Otis

Worldwide

Corp.

16,116‌

1,153,906‌

PACCAR,

Inc.

9,862‌

1,184,623‌

Parker-Hannifin

Corp.

1,372‌

1,341,981‌

Paychex,

Inc.

15,335‌

1,507,891‌

Quanta

Services,

Inc.

1,637‌

1,178,706‌

RBC

Bearings,

Inc.(a)

2,235‌

1,439,474‌

Republic

Services,

Inc.,

Class

8,631‌

1,839,094‌

Rockwell

Automation,

Inc.

3,056‌

1,512,965‌

Rollins,

Inc.

23,588‌

984,563‌

Snap-on,

Inc.

4,143‌

1,667,143‌

SS&C

Technologies

Holdings,

Inc.

19,306‌

1,197,937‌

Textron,

Inc.

14,270‌

1,308,987‌

Trane

Technologies

PLC

2,515‌

1,235,267‌

TransDigm

Group,

Inc.

946‌

1,260,110‌

Union

Pacific

Corp.

6,511‌

1,770,992‌

United

Rentals,

Inc.

1,135‌

1,285,830‌

Verisk

Analytics,

Inc.,

Class

6,232‌

1,118,831‌

Vertiv

Holdings

Co.,

Class

1,872‌

626,783‌

W.W.

Grainger,

Inc.

1,071‌

1,456,988‌

Waste

Management,

Inc.

7,503‌

1,672,269‌

Watsco,

Inc.

2,541‌

1,058,911‌

Westinghouse

Air

Brake

Technologies

Corp.

5,179‌

1,396,258‌

Woodward,

Inc.

2,350‌

999,784‌

Xylem,

Inc.

10,182‌

1,203,614‌

75,126,937‌

Information

Technology

(

Advanced

Energy

Industries,

Inc.

1,696‌

632,388‌

Akamai

Technologies,

Inc.(a)

7,091‌

838,227‌

Amphenol

Corp.,

Class

5,649‌

996,032‌

Analog

Devices,

Inc.

3,169‌

1,258,632‌

AppLovin

Corp.,

Class

A(a)

1,154‌

594,575‌

Arista

Networks,

Inc.(a)

4,289‌

728,615‌

Astera

Labs,

Inc.(a)

2,626‌

1,268,411‌

Broadcom,

Inc.

2,071‌

782,320‌

Cadence

Design

Systems,

Inc.(a)

3,201‌

1,201,399‌

CDW

Corp.

8,203‌

1,153,670‌

Ciena

Corp.(a)

1,003‌

492,032‌

Cognizant

Technology

Solutions

Corp.,

Class

18,174‌

703,879‌

Coherent

Corp.(a)

1,566‌

617,740‌

Credo

Technology

Group

Holding

Ltd.(a)

3,643‌

990,714‌

Datadog,

Inc.,

Class

A(a)

5,255‌

1,368,192‌

Entegris,

Inc.

4,285‌

770,700‌

F5,

Inc.(a)

3,222‌

1,340,223‌

Fair

Isaac

Corp.(a)

615‌

734,790‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Large/Mid

Cap

Core

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Information

Technology

(16.3%):

(continued)

First

Solar,

Inc.(a)

3,100‌

731,476‌

Fortinet,

Inc.(a)

10,084‌

1,549,104‌

Jabil,

Inc.

2,688‌

1,036,170‌

Keysight

Technologies,

Inc.(a)

2,405‌

841,918‌

KLA

Corp.

3,990‌

1,203,823‌

Lattice

Semiconductor

Corp.(a)

5,623‌

860,094‌

Lumentum

Holdings,

Inc.(a)

414‌

355,237‌

MACOM

Technology

Solutions

Holdings,

Inc.(a)

2,638‌

1,003,416‌

Marvell

Technology,

Inc.

4,629‌

1,378,933‌

MKS,

Inc.

2,281‌

1,014,589‌

Monolithic

Power

Systems,

Inc.

537‌

742,327‌

Motorola

Solutions,

Inc.

3,419‌

1,419,877‌

NetApp,

Inc.

10,916‌

1,689,360‌

NXP

Semiconductors

4,324‌

1,215,174‌

Okta,

Inc.,

Class

A(a)

11,845‌

1,616,250‌

Semiconductor

Corp.(a)

9,516‌

899,643‌

Palantir

Technologies,

Inc.,

Class

A(a)

5,015‌

585,100‌

Palo

Alto

Networks,

Inc.(a)

5,806‌

1,979,962‌

PTC,

Inc.(a)

8,627‌

980,113‌

Qnity

Electronics,

Inc.

4,473‌

730,486‌

Roper

Technologies,

Inc.

3,647‌

1,234,108‌

Seagate

Technology

Holdings

PLC

964‌

930,260‌

ServiceNow,

Inc.(a)

9,393‌

932,537‌

Super

Micro

Computer,

Inc.(a)

18,337‌

537,824‌

Synopsys,

Inc.(a)

1,303‌

581,229‌

SYNNEX

Corp.

5,927‌

1,584,524‌

Connectivity

PLC

4,272‌

861,278‌

Teledyne

Technologies,

Inc.(a)

1,983‌

1,322,463‌

Teradyne,

Inc.

1,412‌

683,182‌

Trimble,

Inc.(a)

17,344‌

887,666‌

Tyler

Technologies,

Inc.(a)

2,700‌

789,642‌

Western

Digital

Corp.

1,388‌

886,543‌

49,536,847‌

Materials

(

Alcoa

Corp.

8,243‌

429,790‌

Amcor

PLC

25,636‌

1,111,321‌

Avery

Dennison

Corp.

7,932‌

1,287,760‌

Ball

Corp.

19,903‌

1,241,947‌

Industries

Holdings,

Inc.

6,861‌

742,772‌

Coeur

Mining,

Inc.

22,157‌

361,602‌

CRH

PLC

9,129‌

976,803‌

Crown

Holdings,

Inc.

12,335‌

1,379,300‌

Freeport-McMoRan,

Inc.

10,423‌

655,502‌

Hecla

Mining

Co.

22,104‌

341,065‌

Linde

PLC

3,805‌

1,974,567‌

Martin

Marietta

Materials,

Inc.

2,115‌

1,219,721‌

Newmont

Corp.

5,832‌

544,709‌

Nucor

Corp.

6,191‌

1,379,045‌

Packaging

Corp.

America

6,170‌

1,470,188‌

PPG

Industries,

Inc.

11,166‌

1,354,324‌

Reliance,

Inc.

3,894‌

1,454,798‌

Royal

Gold,

Inc.

3,076‌

614,000‌

SECURITY

DESCRIPTION

VALUE

($)

Materials

(8.1%):

(continued)

RPM

International,

Inc.

11,681‌

1,298,343‌

Smurfit

Westrock

PLC

18,696‌

864,877‌

Steel

Dynamics,

Inc.

5,100‌

1,170,246‌

The

Sherwin-Williams

Co.

4,264‌

1,468,181‌

Vulcan

Materials

Co.

4,443‌

1,310,729‌

24,651,590‌

Real

Estate

(

CoStar

Group,

Inc.(a)

21,579‌

611,117‌

Utilities

(

Alliant

Energy

Corp.

29,520‌

2,252,081‌

Ameren

Corp.

18,892‌

2,135,552‌

American

Electric

Power

Co.,

Inc.

13,325‌

1,822,993‌

American

Water

Works

Co.,

Inc.

10,567‌

1,390,406‌

Atmos

Energy

Corp.

11,485‌

1,978,521‌

CenterPoint

Energy,

Inc.

47,504‌

2,092,076‌

CMS

Energy

Corp.

26,738‌

2,045,457‌

Consolidated

Edison,

Inc.

17,172‌

1,899,738‌

Constellation

Energy

Corp.

2,461‌

611,239‌

DTE

Energy

Co.

14,048‌

2,140,494‌

Entergy

Corp.

14,252‌

1,636,985‌

Evergy,

Inc.

25,766‌

2,226,955‌

Eversource

Energy

17,808‌

1,286,984‌

NextEra

Energy,

Inc.

16,086‌

1,411,868‌

NiSource,

Inc.

37,431‌

1,779,844‌

NRG

Energy,

Inc.

4,490‌

655,809‌

Public

Service

Enterprise

Group,

Inc.

20,747‌

1,683,827‌

The

Southern

Co.

20,993‌

2,009,240‌

Vistra

Corp.

4,164‌

660,535‌

WEC

Energy

Group,

Inc.

19,048‌

2,224,235‌

33,944,839‌

Total

Common

Stocks

(Cost

$258,096,358)

303,634,143‌

Rights

(0.0%)

†

Health

Care

(

†

ABIOMED,

Inc.,

CVR

Expiring 01/04/27(a)(b)

2,152‌

2,195‌

Total

Rights

(Cost

)

2,195‌

Total

Investments

(Cost

$258,096,358)

—

99.8%

303,636,338‌

Other

assets

excess

liabilities

—

0.2%

633,436‌

304,269,774‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Large/Mid

Cap

Core

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

(a)

Non-income

producing

security.

†

Represents

less

than

0.05%.

(b)

Security

was

fair

valued

based

upon

procedures

approved

the

Board

Trustees

and

represents

0.00%

the

Fund’s

net

assets

June

30,

2026.

This

security

classified

Level

within

the

fair

value

hierarchy.

(See

Note

Futures

Contracts

Long

Futures

Index

Futures

Expiration

Date

Number

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

S&P

500

Index

E-mini

9/18/26

375,019‌

377,412‌

2,393‌

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

High

Dividend

Stock

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.6%)

Consumer

Discretionary

(

Domino's

Pizza,

Inc.

9,362‌

2,771,527‌

Garmin

Ltd.

10,650‌

2,529,801‌

Genuine

Parts

Co.

26,323‌

3,105,588‌

Lennar

Corp.,

Class

25,651‌

2,321,159‌

Tractor

Supply

Co.

72,986‌

2,307,087‌

Williams-Sonoma,

Inc.

13,141‌

3,063,167‌

16,098,329‌

Consumer

Staples

(

Bunge

Global

22,388‌

2,389,471‌

Dollar

General

Corp.

20,451‌

2,354,115‌

Hormel

Foods

Corp.

143,197‌

3,554,150‌

Kimberly-Clark

Corp.

33,889‌

3,719,995‌

McCormick

Co.,

Inc.

59,358‌

2,992,830‌

15,010,561‌

Energy

(

Baker

Hughes

Co.,

Class

40,811‌

2,265,010‌

ConocoPhillips

Co.

25,040‌

2,603,158‌

Devon

Energy

Corp.

57,250‌

2,365,570‌

Diamondback

Energy,

Inc.

15,840‌

2,784,355‌

Midstream,

Inc.

30,684‌

4,502,570‌

EOG

Resources,

Inc.

25,423‌

3,298,126‌

Expand

Energy

Corp.

25,819‌

2,354,435‌

Halliburton

Co.

63,106‌

2,142,449‌

Kinder

Morgan,

Inc.

130,828‌

4,182,571‌

Occidental

Petroleum

Corp.

45,232‌

2,196,918‌

Ovintiv,

Inc.

44,002‌

2,316,705‌

Permian

Resources

Corp.,

Class

130,465‌

2,401,861‌

Phillips

Co.

18,573‌

3,139,766‌

SLB

Ltd.

47,489‌

2,207,763‌

Targa

Resources

Corp.

12,955‌

3,473,754‌

The

Williams

Cos.,

Inc.

53,908‌

4,007,521‌

Valero

Energy

Corp.

10,750‌

2,799,730‌

49,042,262‌

Financials

(

Aflac,

Inc.

44,529‌

5,221,025‌

Blue

Owl

Capital,

Inc.,

Class

240,691‌

2,106,046‌

Cincinnati

Financial

Corp.

25,693‌

4,756,802‌

CME

Group,

Inc.,

Class

15,065‌

3,326,804‌

East

West

Bancorp,

Inc.

27,091‌

3,497,177‌

Everest

Group

Ltd.

10,652‌

3,805,214‌

Fidelity

National

Information

Services,

Inc.

66,631‌

2,590,613‌

Franklin

Resources,

Inc.

130,340‌

4,336,412‌

Global

Payments,

Inc.

32,016‌

2,323,081‌

MSCI,

Inc.,

Class

5,264‌

2,948,051‌

Pinnacle

Financial

Partners,

Inc.

28,259‌

2,850,768‌

Principal

Financial

Group,

Inc.

40,814‌

4,398,933‌

Reinsurance

Group

America,

Inc.

16,554‌

3,520,208‌

The

Progressive

Corp.

18,313‌

4,000,475‌

49,681,609‌

Health

Care

(

SECURITY

DESCRIPTION

VALUE

($)

Health

Care

(2.6%):

(continued)

Humana,

Inc.

8,542‌

3,393,053‌

Quest

Diagnostics,

Inc.

18,443‌

3,908,994‌

Zoetis,

Inc.,

Class

25,659‌

1,843,856‌

9,145,903‌

Industrials

(

C.H.

Robinson

Worldwide,

Inc.

11,386‌

2,144,439‌

Carrier

Global

Corp.

42,839‌

3,142,241‌

CSX

Corp.

90,900‌

4,320,477‌

Fastenal

Co.

72,749‌

3,494,134‌

Ferguson

Enterprises,

Inc.

11,373‌

2,699,154‌

General

Dynamics

Corp.

12,340‌

4,371,322‌

Graco,

Inc.

51,530‌

3,896,183‌

Huntington

Ingalls

Industries,

Inc.

6,106‌

1,709,008‌

IDEX

Corp.

16,000‌

3,631,200‌

Illinois

Tool

Works,

Inc.

15,436‌

4,174,975‌

Lennox

International,

Inc.

5,024‌

2,878,501‌

Otis

Worldwide

Corp.

42,501‌

3,043,072‌

Paychex,

Inc.

40,419‌

3,974,400‌

Rockwell

Automation,

Inc.

8,052‌

3,986,384‌

Rollins,

Inc.

62,165‌

2,594,767‌

Snap-on,

Inc.

10,912‌

4,390,989‌

SS&C

Technologies

Holdings,

Inc.

50,895‌

3,158,035‌

Union

Pacific

Corp.

17,163‌

4,668,336‌

Waste

Management,

Inc.

19,770‌

4,406,338‌

Watsco,

Inc.

6,699‌

2,791,674‌

Xylem,

Inc.

26,829‌

3,171,456‌

72,647,085‌

Information

Technology

(

Analog

Devices,

Inc.

8,355‌

3,318,355‌

CDW

Corp.

21,633‌

3,042,465‌

Cognizant

Technology

Solutions

Corp.,

Class

47,916‌

1,855,787‌

NetApp,

Inc.

28,759‌

4,450,743‌

NXP

Semiconductors

11,408‌

3,205,990‌

Connectivity

PLC

11,260‌

2,270,129‌

18,143,469‌

Materials

(

Amcor

PLC

67,574‌

2,929,333‌

Avery

Dennison

Corp.

20,921‌

3,396,524‌

Ball

Corp.

52,476‌

3,274,502‌

Industries

Holdings,

Inc.

18,099‌

1,959,398‌

CRH

PLC

24,078‌

2,576,346‌

Nucor

Corp.

16,308‌

3,632,607‌

Packaging

Corp.

America

16,261‌

3,874,671‌

PPG

Industries,

Inc.

29,432‌

3,569,807‌

Reliance,

Inc.

10,256‌

3,831,642‌

RPM

International,

Inc.

30,804‌

3,423,865‌

Smurfit

Westrock

PLC

49,320‌

2,281,543‌

34,750,238‌

Utilities

(

Alliant

Energy

Corp.

77,765‌

5,932,692‌

Ameren

Corp.

49,762‌

5,625,096‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

High

Dividend

Stock

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

VALUE

($)

Utilities

(24.1%):

(continued)

American

Electric

Power

Co.,

Inc.

35,101‌

4,802,168‌

American

Water

Works

Co.,

Inc.

27,850‌

3,664,503‌

Atmos

Energy

Corp.

30,258‌

5,212,546‌

CenterPoint

Energy,

Inc.

125,154‌

5,511,782‌

CMS

Energy

Corp.

70,439‌

5,388,584‌

Consolidated

Edison,

Inc.

45,244‌

5,005,344‌

DTE

Energy

Co.

37,002‌

5,637,995‌

Entergy

Corp.

37,559‌

4,314,027‌

Evergy,

Inc.

67,877‌

5,866,609‌

Eversource

Energy

46,923‌

3,391,125‌

NextEra

Energy,

Inc.

42,387‌

3,720,307‌

NiSource,

Inc.

98,637‌

4,690,189‌

Public

Service

Enterprise

Group,

Inc.

54,687‌

4,438,397‌

The

Southern

Co.

55,326‌

5,295,251‌

WEC

Energy

Group,

Inc.

50,195‌

5,861,270‌

84,357,885‌

Total

Common

Stocks

(Cost

$315,368,904)

348,877,341‌

Total

Investments

(Cost

$315,368,904)

—

99.6%

348,877,341‌

Other

assets

excess

liabilities

—

0.4%

1,597,795‌

350,475,136‌

Futures

Contracts

Long

Futures

Index

Futures

Expiration

Date

Number

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

S&P

500

Index

E-mini

9/18/26

1,129,405‌

1,132,238‌

2,833‌

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.1%)

Australia

(

Communication

Services

(

REA

Group

Ltd.

5,403‌

520,564‌

Telstra

Group

Ltd.

351,704‌

1,236,723‌

1,757,287‌

Consumer

Discretionary

(

Wesfarmers

Ltd.

15,341‌

959,961‌

Consumer

Staples

(

Coles

Group

Ltd.

58,247‌

982,563‌

Woolworths

Group

Ltd.

25,057‌

694,298‌

1,676,861‌

Energy

(

Woodside

Energy

Group

Ltd.

29,929‌

584,422‌

Financials

(

ANZ

Group

Holdings

Ltd.

29,680‌

726,248‌

Commonwealth

Bank

Australia

6,091‌

694,069‌

National

Australia

Bank

Ltd.

25,844‌

677,285‌

Westpac

Banking

Corp.

28,194‌

687,154‌

2,784,756‌

Health

Care

(

CSL

Ltd.

5,166‌

410,299‌

Sigma

Healthcare

Ltd.

396,605‌

754,957‌

1,165,256‌

Industrials

(

Brambles

Ltd.

45,320‌

611,097‌

Materials

(

BHP

Group

Ltd.

17,835‌

733,316‌

Evolution

Mining

Ltd.

38,393‌

312,263‌

Fortescue

Ltd.

42,310‌

560,845‌

Northern

Star

Resources

Ltd.

20,420‌

267,853‌

Rio

Tinto

Ltd.

5,521‌

659,270‌

2,533,547‌

12,073,187‌

Austria

(

Energy

(

OMV

12,868‌

810,802‌

Financials

(

Erste

Group

Bank

5,945‌

795,365‌

Utilities

(

Verbund

9,814‌

623,417‌

2,229,584‌

Belgium

(

Financials

(

KBC

Group

6,598‌

899,313‌

SECURITY

DESCRIPTION

VALUE

($)

Belgium

(0.9%):

(continued)

Health

Care

(

UCB

1,697‌

507,973‌

Utilities

(

Elia

Group

SA,

Class

5,015‌

801,007‌

2,208,293‌

Canada

(

Consumer

Discretionary

(

Dollarama,

Inc.

6,971‌

922,290‌

Magna

International,

Inc.

9,520‌

626,074‌

1,548,364‌

Consumer

Staples

(

George

Weston

Ltd.

14,137‌

1,014,841‌

Energy

(

Cameco

Corp.

2,975‌

303,269‌

Canadian

Natural

Resources

Ltd.

16,066‌

635,797‌

Cenovus

Energy,

Inc.

22,702‌

563,348‌

Imperial

Oil

Ltd.

5,839‌

655,750‌

Pembina

Pipeline

Corp.

23,263‌

1,076,453‌

Suncor

Energy,

Inc.

15,092‌

812,016‌

Energy

Corp.

18,636‌

1,234,252‌

Tourmaline

Oil

Corp.

16,561‌

692,524‌

5,973,409‌

Financials

(

Brookfield

Corp.,

Class

16,244‌

693,128‌

Fairfax

Financial

Holdings

Ltd.

509‌

837,292‌

Great-West

Lifeco,

Inc.

24,451‌

1,558,167‌

Intact

Financial

Corp.

5,273‌

1,088,400‌

National

Bank

Canada

8,166‌

1,289,365‌

Power

Corp.

Canada

21,225‌

1,323,401‌

6,789,753‌

Industrials

(

Bombardier,

Inc.,

Class

B(a)

2,400‌

552,638‌

Canadian

National

Railway

Co.

8,599‌

1,026,289‌

Canadian

Pacific

Kansas

City

Ltd.

10,976‌

951,702‌

Waste

Connections,

Inc.

5,786‌

964,497‌

WSP

Global,

Inc.

4,367‌

541,525‌

4,036,651‌

Information

Technology

(

Celestica,

Inc.(a)

807‌

294,346‌

Constellation

Software,

Inc.

273‌

514,005‌

Shopify,

Inc.,

Class

A(a)

3,062‌

350,356‌

1,158,707‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Canada

(11.8%):

(continued)

Materials

(

Agnico

Eagle

Mines

Ltd.

2,003‌

311,248‌

Alamos

Gold,

Inc.,

Class

7,879‌

238,909‌

Barrick

Mining

Corp.

9,945‌

365,723‌

First

Majestic

Silver

Corp.

12,280‌

208,520‌

Franco-Nevada

Corp.

1,995‌

416,318‌

Ivanhoe

Mines

Ltd.,

Class

A(a)

43,578‌

341,409‌

Kinross

Gold

Corp.

11,157‌

264,193‌

Lundin

Gold,

Inc.

4,166‌

224,766‌

Lundin

Mining

Corp.

13,140‌

320,230‌

LunR

Royalties

Corp.(a)

856‌

11,409‌

Nutrien

Ltd.

8,339‌

525,414‌

Pan

American

Silver

Corp.

6,094‌

273,222‌

Wheaton

Precious

Metals

Corp.

3,077‌

346,171‌

3,847,532‌

Utilities

(

Emera,

Inc.

26,590‌

1,410,596‌

Fortis,

Inc.

26,201‌

1,501,186‌

Hydro

One

Ltd.

35,464‌

1,462,974‌

4,374,756‌

28,744,013‌

Chile

(

Materials

(

Antofagasta

PLC

8,237‌

417,296‌

Denmark

(

Financials

(

Danske

Bank

A/S

16,446‌

880,506‌

Health

Care

(

Coloplast

A/S,

Class

11,448‌

651,596‌

Genmab

A/S(a)

1,907‌

523,324‌

1,174,920‌

Industrials

(

DSV

A/S

2,485‌

588,483‌

Vestas

Wind

Systems

A/S

14,147‌

399,256‌

987,739‌

Materials

(

Novonesis

A/S

12,321‌

777,762‌

Utilities

(

Orsted

A/S(a)

13,370‌

300,064‌

4,120,991‌

Finland

(

Energy

(

Neste

Oyj

14,725‌

481,822‌

Financials

(

Sampo

Oyj,

Class

102,403‌

1,075,660‌

SECURITY

DESCRIPTION

VALUE

($)

Finland

(2.1%):

(continued)

Industrials

(

Kone

Oyj,

Class

14,069‌

799,837‌

Metso

Oyj

31,157‌

541,075‌

Wartsila

Oyj

Abp

14,462‌

551,534‌

1,892,446‌

Information

Technology

(

Nokia

Oyj

45,036‌

594,549‌

Materials

(

UPM-Kymmene

Oyj

23,247‌

616,188‌

Utilities

(

Fortum

Oyj

24,763‌

574,041‌

5,234,706‌

France

(

Consumer

Discretionary

(

Cie

Generale

des

Etablissements

Michelin

SCA

21,719‌

837,475‌

Hermes

International

SCA

323‌

589,708‌

1,427,183‌

Energy

(

Bollore

202,352‌

937,699‌

TotalEnergies

10,425‌

810,279‌

1,747,978‌

Financials

(

Amundi

9,105‌

873,290‌

Credit

Agricole

39,589‌

795,833‌

Societe

Generale

6,580‌

581,643‌

2,250,766‌

Health

Care

(

Ipsen

3,612‌

696,591‌

Sartorius

Stedim

Biotech

2,560‌

531,146‌

1,227,737‌

Industrials

(

Bouygues

13,176‌

734,768‌

Bureau

Veritas

30,879‌

944,782‌

Eiffage

4,618‌

681,143‌

Legrand

3,993‌

673,810‌

Safran

2,017‌

795,029‌

Thales

1,924‌

494,151‌

Vinci

4,712‌

688,009‌

5,011,692‌

Information

Technology

(

Dassault

Systemes

25,330‌

515,559‌

Materials

(

Air

Liquide

5,485‌

1,085,883‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

France

(6.1%):

(continued)

Utilities

(

Engie

25,202‌

794,410‌

Veolia

Environnement

23,022‌

958,472‌

1,752,882‌

15,019,680‌

Germany

(

Financials

(

Commerzbank

12,296‌

523,016‌

Hannover

Rueck

2,828‌

783,195‌

Muenchener

Rueckversicherungs-

Gesellschaft

Muenchen,

Registered

1,370‌

764,615‌

Talanx

5,947‌

751,469‌

2,822,295‌

Industrials

(

Deutsche

Post

13,126‌

796,315‌

Knorr-Bremse

5,556‌

644,932‌

MTU

Aero

Engines

1,740‌

723,418‌

Rheinmetall

248‌

280,649‌

Siemens

Energy

2,069‌

391,925‌

2,837,239‌

Information

Technology

(

Infineon

Technologies

9,990‌

932,151‌

Materials

(

Heidelberg

Materials

2,477‌

472,324‌

Real

Estate

(

Vonovia

24,472‌

603,643‌

Utilities

(

E.ON

38,308‌

788,902‌

RWE

10,854‌

702,130‌

1,491,032‌

9,158,684‌

Hong

Kong

(

Consumer

Staples

(

Group

Ltd.

538,312‌

569,021‌

Financials

(

AIA

Group

Ltd.

52,732‌

480,415‌

Prudential

PLC

52,859‌

703,123‌

1,183,538‌

Industrials

(

Hutchison

Holdings

Ltd.

98,864‌

835,149‌

Techtronic

Industries

Co.

Ltd.

40,354‌

666,341‌

1,501,490‌

Real

Estate

(

Henderson

Land

Development

Co.

Ltd.

203,823‌

644,533‌

Hongkong

Land

Holdings

Ltd.

79,900‌

568,888‌

Sun

Hung

Kai

Properties

Ltd.

38,243‌

547,610‌

1,761,031‌

SECURITY

DESCRIPTION

VALUE

($)

Hong

Kong

(3.6%):

(continued)

Utilities

(

CLP

Holdings

Ltd.

185,156‌

1,728,179‌

Hong

Kong

China

Gas

Co.

Ltd.

1,315,974‌

1,090,688‌

Power

Assets

Holdings

Ltd.

145,059‌

1,056,138‌

3,875,005‌

8,890,085‌

Ireland

(

Financials

(

AIB

Group

PLC

59,979‌

704,107‌

Bank

Ireland

Group

PLC

34,175‌

680,361‌

1,384,468‌

Industrials

(

Experian

PLC

20,257‌

683,176‌

Kingspan

Group

PLC

6,424‌

586,789‌

Ryanair

Holdings

PLC

23,635‌

738,535‌

2,008,500‌

3,392,968‌

Israel

(

Financials

(

Bank

Leumi

Le-Israel

27,818‌

622,450‌

Mizrahi

Tefahot

Bank

Ltd.

8,166‌

541,050‌

1,163,500‌

Industrials

(

Elbit

Systems

Ltd.

530‌

402,852‌

Real

Estate

(

Azrieli

Group

Ltd.

3,929‌

534,253‌

2,100,605‌

Italy

(

Consumer

Discretionary

(

Moncler

SpA

9,053‌

525,222‌

Energy

(

Eni

SpA

34,690‌

817,243‌

Financials

(

Banca

Monte

dei

Paschi

Siena

SpA

58,953‌

731,735‌

Banco

BPM

SpA

46,890‌

809,473‌

BPER

Banca

SpA

45,388‌

712,086‌

Generali

23,695‌

1,153,523‌

Intesa

Sanpaolo

SpA

113,702‌

778,131‌

Poste

Italiane

SpA

39,567‌

1,293,781‌

UniCredit

SpA

8,076‌

722,095‌

Unipol

Assicurazioni

SpA

27,686‌

772,122‌

6,972,946‌

Industrials

(

Leonardo

SpA

6,934‌

371,746‌

Prysmian

SpA

4,102‌

684,471‌

1,056,217‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Italy

(5.1%):

(continued)

Utilities

(

Enel

SpA

77,134‌

886,018‌

Snam

SpA

159,214‌

1,148,898‌

Terna

Rete

Elettrica

Nazionale

99,992‌

1,169,831‌

3,204,747‌

12,576,375‌

Japan

(

Consumer

Discretionary

(

Asics

Corp.

17,410‌

468,500‌

Bridgestone

Corp.

40,140‌

841,908‌

Denso

Corp.

57,336‌

661,596‌

Fast

Retailing

Co.

Ltd.

1,442‌

734,481‌

Oriental

Land

Co.

Ltd.

39,792‌

609,436‌

Pan

Pacific

International

Holdings

Corp.

116,062‌

587,520‌

Sekisui

House

Ltd.

43,082‌

896,195‌

Sumitomo

Electric

Industries

Ltd.

21,440‌

385,994‌

Suzuki

Motor

Corp.

53,598‌

644,673‌

5,830,303‌

Consumer

Staples

(

Aeon

Co.

Ltd.

41,842‌

345,123‌

Ajinomoto

Co.,

Inc.

16,484‌

595,464‌

Kao

Corp.

53,524‌

1,061,065‌

2,001,652‌

Energy

(

ENEOS

Holdings,

Inc.

68,218‌

502,257‌

Inpex

Corp.

20,578‌

413,256‌

915,513‌

Financials

(

Dai-ichi

Life

Holdings,

Inc.

69,214‌

757,148‌

Japan

Post

Bank

Co.

Ltd.

35,560‌

669,949‌

Japan

Post

Holdings

Co.

Ltd.

59,080‌

788,193‌

MS&AD

Insurance

Group

Holdings,

Inc.

28,788‌

750,776‌

ORIX

Corp.

23,072‌

872,615‌

Resona

Holdings,

Inc.

39,806‌

515,632‌

Sompo

Holdings,

Inc.

17,750‌

681,046‌

Sumitomo

Mitsui

Financial

Group,

Inc.

16,168‌

631,087‌

Sumitomo

Mitsui

Trust

Group,

Inc.

21,680‌

807,699‌

Tokio

Marine

Holdings,

Inc.

10,956‌

485,331‌

6,959,476‌

Health

Care

(

Chugai

Pharmaceutical

Co.

Ltd.

8,338‌

386,385‌

Daiichi

Sankyo

Co.

Ltd.

30,950‌

496,575‌

Hoya

Corp.

3,420‌

545,879‌

Shionogi

Co.

Ltd.

34,462‌

591,183‌

Terumo

Corp.

51,792‌

711,670‌

2,731,692‌

SECURITY

DESCRIPTION

VALUE

($)

Japan

(19.7%):

(continued)

Industrials

(

Central

Japan

Railway

Co.

26,924‌

574,482‌

Daifuku

Co.

Ltd.

13,900‌

609,162‌

Daikin

Industries

Ltd.

4,660‌

707,541‌

East

Japan

Railway

Co.

37,028‌

776,180‌

Ebara

Corp.

12,100‌

465,602‌

FANUC

Corp.

11,806‌

534,095‌

Fujikura

Ltd.

9,976‌

382,767‌

Hitachi

Ltd.

15,100‌

415,255‌

IHI

Corp.

17,526‌

292,298‌

ITOCHU

Corp.

56,010‌

638,717‌

Kajima

Corp.

13,972‌

504,635‌

Kawasaki

Heavy

Industries

Ltd.

18,000‌

323,564‌

Komatsu

Ltd.

11,510‌

444,740‌

Kubota

Corp.

27,840‌

459,862‌

Marubeni

Corp.

14,712‌

424,402‌

Mitsubishi

Corp.

18,128‌

484,699‌

Mitsubishi

Electric

Corp.

15,362‌

555,217‌

Mitsubishi

Heavy

Industries

Ltd.

15,032‌

338,955‌

NIDEC

Corp.(a)

25,970‌

422,504‌

Obayashi

Corp.

25,600‌

512,850‌

Secom

Co.

Ltd.

25,718‌

1,021,254‌

Shimizu

Corp.

29,900‌

468,877‌

SMC

Corp.

1,040‌

455,967‌

Taisei

Corp.

5,400‌

473,305‌

Toyota

Tsusho

Corp.

13,200‌

485,359‌

12,772,289‌

Information

Technology

(

Advantest

Corp.

1,780‌

354,073‌

Canon,

Inc.

31,776‌

810,524‌

Disco

Corp.

804‌

401,852‌

FUJIFILM

Holdings

Corp.

39,128‌

838,251‌

Fujitsu

Ltd.

26,012‌

519,504‌

Ibiden

Co.

Ltd.

4,500‌

659,168‌

Keyence

Corp.

1,474‌

734,915‌

Kyocera

Corp.

40,278‌

882,212‌

Lasertec

Corp.

1,200‌

366,835‌

Murata

Manufacturing

Co.

Ltd.

18,450‌

1,293,134‌

NEC

Corp.

16,170‌

390,375‌

Nomura

Research

Institute

Ltd.

15,914‌

449,484‌

TDK

Corp.

31,976‌

702,142‌

Tokyo

Electron

Ltd.

1,544‌

732,683‌

9,135,152‌

Materials

(

Asahi

Kasei

Corp.

65,200‌

718,251‌

Advanced

Metals

Corp.

10,700‌

289,449‌

Nippon

Paint

Holdings

Co.

Ltd.

99,898‌

647,020‌

Nippon

Sanso

Holdings

Corp.

16,518‌

609,189‌

Nitto

Denko

Corp.

29,900‌

582,993‌

Shin-Etsu

Chemical

Co.

Ltd.

13,110‌

565,106‌

Sumitomo

Metal

Mining

Co.

Ltd.

5,100‌

234,296‌

3,646,304‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Japan

(19.7%):

(continued)

Real

Estate

(

Daiwa

House

Industry

Co.

Ltd.

32,394‌

880,085‌

Mitsubishi

Estate

Co.

Ltd.

19,614‌

500,062‌

Mitsui

Fudosan

Co.

Ltd.

59,582‌

549,351‌

Sumitomo

Realty

Development

Co.

Ltd.

19,368‌

445,662‌

2,375,160‌

Utilities

(

Osaka

Gas

Co.

Ltd.

17,700‌

593,992‌

The

Kansai

Electric

Power

Co.,

Inc.

37,716‌

530,200‌

Tokyo

Gas

Co.

Ltd.

15,322‌

576,860‌

1,701,052‌

48,068,593‌

Luxembourg

(

Energy

(

Tenaris

23,120‌

639,500‌

Materials

(

ArcelorMittal

8,382‌

504,680‌

1,144,180‌

Mexico

(

Materials

(

Fresnillo

PLC

7,034‌

255,695‌

Netherlands

(

Financials

(

Adyen

NV(a)

444‌

416,166‌

Euronext

5,110‌

817,348‌

Group

12,259‌

1,073,697‌

2,307,211‌

Health

Care

(

Argenx

SE(a)

753‌

698,052‌

Industrials

(

Ferrovial

13,244‌

907,577‌

Wolters

Kluwer

7,604‌

490,329‌

1,397,906‌

Information

Technology

(

ASM

International

506‌

578,396‌

Semiconductor

Industries

1,517‌

497,596‌

1,075,992‌

5,479,161‌

Norway

(

Communication

Services

(

Telenor

ASA

47,485‌

680,434‌

Energy

(

Aker

ASA

16,825‌

515,511‌

Equinor

ASA

14,580‌

461,900‌

977,411‌

SECURITY

DESCRIPTION

VALUE

($)

Norway

(1.3%):

(continued)

Financials

(

DNB

Bank

ASA

29,151‌

868,135‌

Industrials

(

Kongsberg

Gruppen

ASA

9,375‌

282,604‌

Materials

(

Norsk

Hydro

ASA

54,690‌

496,293‌

3,304,877‌

Portugal

(

Consumer

Staples

(

Jeronimo

Martins

SGPS

31,510‌

603,366‌

Energy

(

Galp

Energia

SGPS

26,498‌

564,460‌

1,167,826‌

Russian

Federation

(

Materials

(

Evraz

PLC(a)(b)(c)

38,723‌

—‌

Singapore

(

Communication

Services

(

Singapore

Telecommunications

Ltd.

218,776‌

745,943‌

Consumer

Staples

(

Wilmar

International

Ltd.

329,840‌

920,614‌

Financials

(

DBS

Group

Holdings

Ltd.

26,168‌

1,323,169‌

Oversea-Chinese

Banking

Corp.

Ltd.

73,684‌

1,412,267‌

United

Overseas

Bank

Ltd.

44,198‌

1,358,677‌

4,094,113‌

Industrials

(

Keppel

Ltd.

87,100‌

736,720‌

Singapore

Airlines

Ltd.

208,980‌

1,240,890‌

Singapore

Technologies

Engineering

Ltd.

79,176‌

636,028‌

2,613,638‌

8,374,308‌

South

Korea

(

Communication

Services

(

Kakao

Corp.

11,610‌

258,975‌

NAVER

Corp.

3,070‌

394,428‌

653,403‌

Consumer

Discretionary

(

Hyundai

Mobis

Co.

Ltd.

1,323‌

427,078‌

Kia

Corp.

3,667‌

326,713‌

Electronics,

Inc.

4,348‌

569,852‌

1,323,643‌

Energy

(

Hyundai

Co.

Ltd.

1,893‌

243,821‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

South

Korea

(5.2%):

(continued)

Financials

(

Hana

Financial

Group,

Inc.

6,242‌

461,833‌

Financial

Group,

Inc.

4,497‌

461,633‌

Mirae

Asset

Securities

Co.

Ltd.

5,014‌

138,387‌

Samsung

Fire

Marine

Insurance

Co.

Ltd.

1,014‌

404,579‌

Samsung

Life

Insurance

Co.

Ltd.

2,513‌

650,599‌

Shinhan

Financial

Group

Co.

Ltd.

7,939‌

491,030‌

Woori

Financial

Group,

Inc.

22,599‌

423,120‌

3,031,181‌

Health

Care

(

Celltrion,

Inc.(a)

3,458‌

386,924‌

Industrials

(

Doosan

Co.

Ltd.

286‌

274,570‌

Doosan

Enerbility

Co.

Ltd.(a)

4,296‌

240,747‌

Hanwha

Aerospace

Co.

Ltd.

329‌

211,347‌

Hanwha

Ocean

Co.

Ltd.(a)

3,541‌

229,300‌

Korea

Shipbuilding

Offshore

Engineering

Co.

Ltd.

1,410‌

318,613‌

Hyosung

Heavy

Industries

Corp.

151‌

335,165‌

Hyundai

Electric

Energy

Systems

Co.

Ltd.

481‌

301,848‌

Hyundai

Rotem

Co.

Ltd.

2,265‌

252,983‌

Electric

Co.

Ltd.

2,543‌

390,751‌

Samsung

C&T

Corp.

1,768‌

534,772‌

Samsung

Heavy

Industries

Co.

Ltd.(a)

18,276‌

274,924‌

Square

Co.

Ltd.(a)

660‌

723,107‌

4,088,127‌

Information

Technology

(

Hanmi

Semiconductor

Co.

Ltd.

1,204‌

199,384‌

Samsung

Electro-Mechanics

Co.

Ltd.

926‌

1,305,690‌

hynix,

Inc.

409‌

699,755‌

2,204,829‌

Materials

(

Korea

Zinc

Co.

Ltd.

225‌

156,885‌

POSCO

Holdings,

Inc.

1,593‌

326,026‌

482,911‌

Utilities

(

Korea

Electric

Power

Corp.

10,953‌

261,644‌

12,676,483‌

Spain

(

Consumer

Discretionary

(

Amadeus

Group

12,465‌

727,447‌

Industria

Diseno

Textil

11,655‌

733,972‌

1,461,419‌

Energy

(

Repsol

26,455‌

665,251‌

SECURITY

DESCRIPTION

VALUE

($)

Spain

(3.8%):

(continued)

Financials

(

Banco

Bilbao

Vizcaya

Argentaria

27,296‌

682,034‌

Banco

Sabadell

198,947‌

704,396‌

Banco

Santander

51,312‌

708,415‌

CaixaBank

60,187‌

851,641‌

2,946,486‌

Industrials

(

ACS

Actividades

Construccion

Servicios

4,691‌

689,766‌

Aena

SME

27,668‌

842,745‌

1,532,511‌

Utilities

(

Acciona

1,953‌

618,519‌

Endesa

19,793‌

901,830‌

Iberdrola

46,402‌

1,157,837‌

2,678,186‌

9,283,853‌

Sweden

(

Financials

(

EQT

17,049‌

481,883‌

Industrivarden

AB,

Class

17,005‌

933,213‌

Investor

AB,

Class

24,522‌

1,018,282‌

Skandinaviska

Enskilda

Banken

AB,

Class

46,281‌

920,932‌

Svenska

Handelsbanken

AB,

Class

52,555‌

773,083‌

Swedbank

AB,

Class

25,673‌

958,689‌

5,086,082‌

Health

Care

(

Swedish

Orphan

Biovitrum

AB(a)

14,598‌

695,709‌

Industrials

(

Alfa

Laval

14,811‌

881,562‌

Assa

Abloy

AB,

Class

21,996‌

776,909‌

Atlas

Copco

AB,

Class

36,616‌

740,887‌

Epiroc

AB,

Class

24,002‌

658,352‌

Lifco

AB,

Class

24,103‌

789,170‌

Saab

AB,

Class

6,851‌

355,338‌

Sandvik

16,416‌

677,191‌

Volvo

AB,

Class

19,477‌

662,018‌

5,541,427‌

Information

Technology

(

Hexagon

AB,

Class

76,617‌

633,226‌

Telefonaktiebolaget

Ericsson,

Class

49,394‌

551,053‌

1,184,279‌

Materials

(

Boliden

7,250‌

408,939‌

12,916,436‌

Switzerland

(

Communication

Services

(

Swisscom

AG,

Registered

1,236‌

954,006‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

VALUE

($)

Switzerland

(8.5%):

(continued)

Consumer

Discretionary

(

Cie

Financiere

Richemont

SA,

Registered

3,419‌

789,570‌

Consumer

Staples

(

Chocoladefabriken

Lindt

Spruengli

AG,

Participation

Certificates

58‌

674,919‌

Financials

(

Helvetia

Baloise

Holding

3,626‌

936,350‌

Julius

Baer

Group

Ltd.

9,886‌

854,225‌

Partners

Group

Holding

620‌

508,250‌

Swiss

Life

Holding

959‌

1,056,111‌

Swiss

4,948‌

787,098‌

4,142,034‌

Health

Care

(

Alcon

9,618‌

650,090‌

Galderma

Group

AG(a)

3,408‌

775,850‌

Lonza

Group

AG,

Registered

1,329‌

897,955‌

Sonova

Holding

3,238‌

770,017‌

Straumann

Holding

AG,

Registered

5,640‌

742,877‌

3,836,789‌

Industrials

(

ABB

Ltd.,

Registered

8,636‌

936,297‌

Geberit

AG,

Registered

1,352‌

903,453‌

Kuehne

Nagel

International

AG,

Registered

2,823‌

684,782‌

Schindler

Holding

AG,

Participation

Certificates

2,702‌

896,430‌

SGS

SA,

Registered

9,050‌

1,049,970‌

VAT

Group

621‌

542,895‌

5,013,827‌

Information

Technology

(

STMicroelectronics

11,206‌

825,659‌

Materials

(

Amrize

Ltd.(a)

9,145‌

484,760‌

EMS-Chemie

Holding

1,085‌

930,806‌

Givaudan

SA,

Registered

232‌

982,223‌

Glencore

PLC(a)

75,494‌

514,420‌

Holcim

AG(a)

7,860‌

709,132‌

Sika

AG,

Registered

3,945‌

814,346‌

4,435,687‌

20,672,491‌

United

Kingdom

(

Consumer

Discretionary

(

PLC

4,539‌

875,559‌

SECURITY

DESCRIPTION

VALUE

($)

United

Kingdom

(4.1%):

(continued)

Financials

(

Group

PLC

12,184‌

401,700‌

Legal

General

Group

PLC

246,547‌

935,141‌

Lloyds

Banking

Group

PLC

503,646‌

742,080‌

London

Stock

Exchange

Group

PLC

4,676‌

506,154‌

NatWest

Group

PLC

77,097‌

681,985‌

Standard

Chartered

PLC

28,250‌

764,668‌

4,031,728‌

Health

Care

(

Haleon

PLC

173,228‌

798,793‌

Smith

Nephew

PLC

39,845‌

576,250‌

1,375,043‌

Industrials

(

International

Consolidated

Airlines

Group

108,503‌

687,110‌

Rolls-Royce

Holdings

PLC

35,507‌

680,257‌

1,367,367‌

Information

Technology

(

Halma

PLC

14,388‌

750,665‌

Materials

(

Endeavour

Mining

PLC

6,259‌

307,459‌

Rio

Tinto

PLC

7,238‌

683,647‌

991,106‌

Utilities

(

SSE

PLC

17,142‌

553,796‌

9,945,264‌

United

States

(

Consumer

Discretionary

(

Restaurant

Brands

International,

Inc.

10,816‌

784,600‌

Health

Care

(

BeOne

Medicines

Ltd.,

Class

H(a)

19,700‌

428,032‌

Industrials

(

Global,

Inc.

6,954‌

809,657‌

Sunbelt

Rentals

Holdings,

Inc.

8,851‌

645,135‌

1,454,792‌

Information

Technology

(

Octave

Intelligence

PLC,

Class

SDR(a)

1‌

8‌

Materials

(

Anglogold

Ashanti

PLC

3,043‌

246,148‌

2,913,580‌

Total

Common

Stocks

(Cost

$203,156,655)

242,369,214‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

Security

Name

Acquisition

Date

Cost

Evraz

PLC

12/4/2019

247,473

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

VALUE

($)

Rights

(0.0%)†

Spain

(

Financials

(

ACS

Actividades

Construccion

Servicios

SA,

expiring 7/13/26

(a)

4,619‌

9,694‌

Total

Rights

(Cost

$9,847)

9,694‌

SECURITY

DESCRIPTION

VALUE

($)

Warrant

(0.0%)†

Canada

(

Information

Technology

(

Constellation

Software,

Inc.,

expiring 3/31/40

(a)(c)

141‌

—‌

Total

Warrant

(Cost

$–)

—‌

VALUE

($)

Total

Investments

(Cost

203,166,502

)—

242,378,908‌

Other

assets

excess

liabilities

—

0.9%

2,193,778‌

NET

ASSETS

100.00%

244,572,686‌

(a)

Non-income

producing

security.

(b)

The

following

table

details

the

earliest

acquisition

date

and

cost

the

Fund's

restricted

securities

due

trading

restrictions

June

30,

2026.

(c)

Security

was

fair

valued

based

upon

procedures

approved

the

Board

Trustees

and

represents

0.00%

the

Fund's

net

asset

June

30,

2026.

This

security

classified

Level

within

the

fair

value

hierarchy.

†

Represents

less

than

0.05%.

Futures

Contracts

Long

Futures

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

International

ETF

See

notes

financial

statements.

Index

Futures

Expiration

Date

Number

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

Mini

MSCI

EAFE

Index

9/18/26

1,256,027‌

1,258,120‌

2,093‌

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

Free

Cash

Flow

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.9%)

Communications

Equipment

(

F5,

Inc.(a)

1,069‌

444,661‌

Consumer

Discretionary

(

Aptiv

PLC(a)

7,810‌

479,378‌

Deckers

Outdoor

Corp.(a)

4,224‌

419,401‌

Toll

Brothers,

Inc.

3,275‌

539,556‌

1,438,335‌

Consumer

Staples

(

McCormick

Co.,

Inc.

5,227‌

263,545‌

Electronic

Equipment,

Instruments

Components

(

Jabil,

Inc.

1,575‌

607,131‌

SYNNEX

Corp.

2,459‌

657,389‌

Connectivity

PLC

4,535‌

914,301‌

2,178,821‌

Energy

(

Devon

Energy

Corp.

31,181‌

1,288,399‌

Diamondback

Energy,

Inc.

8,002‌

1,406,592‌

EQT

Corp.

18,776‌

998,320‌

Expand

Energy

Corp.

13,606‌

1,240,731‌

Permian

Resources

Corp.,

Class

41,709‌

767,863‌

Phillips

Co.

9,260‌

1,565,403‌

SLB

Ltd.

25,202‌

1,171,641‌

8,438,949‌

Health

Care

(

Dexcom,

Inc.(a)

4,658‌

313,716‌

HealthCare

Technologies,

Inc.

5,862‌

375,227‌

HCA

Healthcare,

Inc.

3,028‌

1,180,587‌

Humana,

Inc.

3,402‌

1,351,342‌

Incyte

Corp.(a)

10,268‌

1,163,980‌

IQVIA

Holdings,

Inc.(a)

4,217‌

814,808‌

Medpace

Holdings,

Inc.(a)

317‌

167,880‌

Neurocrine

Biosciences,

Inc.(a)

2,831‌

477,123‌

ResMed,

Inc.

2,075‌

404,376‌

Tenet

Healthcare

Corp.(a)

6,738‌

1,260,545‌

Veeva

Systems,

Inc.,

Class

A(a)

3,595‌

638,005‌

Waters

Corp.(a)

941‌

352,913‌

Zoetis,

Inc.,

Class

5,855‌

420,740‌

8,921,242‌

Industrials

(

Copart,

Inc.(a)

11,150‌

314,319‌

General

Dynamics

Corp.

3,210‌

1,137,110‌

Graco,

Inc.

1,705‌

128,915‌

Paychex,

Inc.

9,894‌

972,877‌

Textron,

Inc.

2,583‌

236,939‌

2,790,160‌

Services

(

Cognizant

Technology

Solutions

Corp.,

Class

25,454‌

985,834‌

Okta,

Inc.,

Class

A(a)

5,667‌

773,262‌

1,759,096‌

SECURITY

DESCRIPTION

VALUE

($)

Materials

(

Amcor

PLC

13,735‌

595,412‌

Coeur

Mining,

Inc.

78,376‌

1,279,096‌

Crown

Holdings,

Inc.

2,964‌

331,434‌

Newmont

Corp.

12,979‌

1,212,239‌

RPM

International,

Inc.

1,511‌

167,948‌

Steel

Dynamics,

Inc.

2,327‌

533,953‌

4,120,082‌

Semiconductors

Semiconductor

Equipment

(

NXP

Semiconductors

4,851‌

1,363,277‌

Semiconductor

Corp.(a)

8,252‌

780,144‌

2,143,421‌

Software

(

PTC,

Inc.(a)

1,889‌

214,609‌

Roper

Technologies,

Inc.

2,517‌

851,728‌

ServiceNow,

Inc.(a)

17,200‌

1,707,616‌

Tyler

Technologies,

Inc.(a)

567‌

165,825‌

2,939,778‌

Technology

Hardware,

Storage

Peripherals

(

NetApp,

Inc.

7,688‌

1,189,795‌

Utilities

(

NRG

Energy,

Inc.

7,311‌

1,067,845‌

Vistra

Corp.

9,261‌

1,469,072‌

2,536,917‌

Total

Common

Stocks

(Cost

$39,659,919)

39,164,802‌

Total

Investments

(Cost

$39,659,919)

—

99.9%

39,164,802‌

Other

assets

excess

liabilities

—

0.1%

56,372‌

39,221,174‌

(a)

Non-income

producing

security.

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

Free

Cash

Flow

Growth

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

VALUE

($)

Common

Stocks

(99.9%)

Communications

Equipment

(

Arista

Networks,

Inc.(a)

7,191‌

1,221,607‌

Motorola

Solutions,

Inc.

565‌

234,639‌

1,456,246‌

Consumer

Discretionary

(

Carvana

Co.,

Class

A(a)

5,910‌

388,996‌

Deckers

Outdoor

Corp.(a)

1,279‌

126,992‌

515,988‌

Consumer

Staples

(

Coca-Cola

Consolidated,

Inc.

1,020‌

194,738‌

Costco

Wholesale

Corp.

1,071‌

1,001,888‌

1,196,626‌

Electronic

Equipment,

Instruments

Components

(

Amphenol

Corp.,

Class

8,368‌

1,475,446‌

Connectivity

PLC

3,625‌

730,836‌

2,206,282‌

Health

Care

(

Alnylam

Pharmaceuticals,

Inc.(a)

810‌

243,834‌

Dexcom,

Inc.(a)

2,554‌

172,012‌

IDEXX

Laboratories,

Inc.(a)

616‌

324,287‌

Incyte

Corp.(a)

7,246‌

821,407‌

Intuitive

Surgical,

Inc.(a)

1,270‌

505,054‌

Medpace

Holdings,

Inc.(a)

413‌

218,720‌

Neurocrine

Biosciences,

Inc.(a)

1,426‌

240,331‌

ResMed,

Inc.

817‌

159,217‌

Veeva

Systems,

Inc.,

Class

A(a)

2,044‌

362,749‌

Waters

Corp.(a)

565‌

211,898‌

3,259,509‌

Industrials

(

Caterpillar,

Inc.

1,483‌

1,579,246‌

Cintas

Corp.

2,905‌

494,082‌

Comfort

Systems

USA,

Inc.

663‌

1,314,033‌

EMCOR

Group,

Inc.

1,015‌

842,328‌

FTAI

Aviation

Ltd.

1,789‌

483,978‌

Vernova,

Inc.

1,222‌

1,435,679‌

Lincoln

Electric

Holdings,

Inc.

658‌

174,706‌

Nextpower,

Inc.,

Class

A(a)

2,756‌

328,350‌

Rollins,

Inc.

1,581‌

65,991‌

Trane

Technologies

PLC

1,535‌

753,931‌

Vertiv

Holdings

Co.,

Class

4,083‌

1,367,070‌

8,839,394‌

Materials

(

Coeur

Mining,

Inc.

53,497‌

873,071‌

Newmont

Corp.

9,893‌

924,006‌

1,797,077‌

Semiconductors

Semiconductor

Equipment

(

Astera

Labs,

Inc.(a)

606‌

292,710‌

Broadcom,

Inc.

3,261‌

1,231,843‌

Credo

Technology

Group

Holding

Ltd.(a)

1,583‌

430,497‌

KLA

Corp.

6,640‌

2,003,354‌

Lattice

Semiconductor

Corp.(a)

408‌

62,408‌

SECURITY

DESCRIPTION

VALUE

($)

Semiconductors

Semiconductor

Equipment

(13.9%):

(continued)

Monolithic

Power

Systems,

Inc.

255‌

352,502‌

Teradyne,

Inc.

1,218‌

589,317‌

4,962,631‌

Software

(

AppLovin

Corp.,

Class

A(a)

1,986‌

1,023,247‌

Cadence

Design

Systems,

Inc.(a)

667‌

250,338‌

Datadog,

Inc.,

Class

A(a)

1,117‌

290,822‌

Fair

Isaac

Corp.(a)

198‌

236,566‌

Fortinet,

Inc.(a)

4,084‌

627,384‌

Palantir

Technologies,

Inc.,

Class

A(a)

7,645‌

891,942‌

Palo

Alto

Networks,

Inc.(a)

2,606‌

888,698‌

ServiceNow,

Inc.(a)

10,508‌

1,043,235‌

5,252,232‌

Technology

Hardware,

Storage

Peripherals

(

Seagate

Technology

Holdings

PLC

2,297‌

2,216,605‌

Western

Digital

Corp.

3,416‌

2,181,868‌

4,398,473‌

Utilities

(

NRG

Energy,

Inc.

5,305‌

774,848‌

Vistra

Corp.

5,104‌

809,648‌

1,584,496‌

Total

Common

Stocks

(Cost

$32,656,577)

35,468,954‌

Total

Investments

(Cost

$32,656,577)

—

99.9%

35,468,954‌

Other

assets

excess

liabilities

—

0.1%

22,958‌

35,491,912‌

(a)

Non-income

producing

security.

Schedule

Portfolio

Investments

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Asset-Backed

Securities

(15.5%)

ABS

Auto

(

Ally

Bank

Series

2026-A,

Class

6.37%,

3/15/34,

Callable

11/15/29

100(a)

46,360‌

46,105‌

Series

2026-A,

Class

5.25%,

3/15/34,

Callable

11/15/29

100(a)

46,360‌

46,333‌

Series

2026-A,

Class

4.86%,

3/15/34,

Callable

11/15/29

100(a)

46,360‌

46,283‌

American

Credit

Acceptance

Receivables

Trust,

Series

2026-2,

Class

4.85%,

5/10/32,

Callable

7/8/29

100(a)

100,000‌

99,613‌

AutoNation

Finance

Trust

Series

2026-1A,

Class

A4,

4.18%,

6/11/31,

Callable

5/11/29

100(a)

25,000‌

24,767‌

Series

2026-1A,

Class

4.56%,

10/14/31,

Callable

5/11/29

100(a)

150,000‌

148,171‌

Series

2025-1A,

Class

5.63%,

9/10/32,

Callable

9/10/28

100(a)

10,000‌

10,058‌

Chase

Auto

Owner

Trust

Series

2026-1A,

Class

5.11%,

6/25/32,

Callable

2/25/30

100(a)

50,000‌

49,984‌

Series

2026-1A,

Class

5.56%,

9/26/33,

Callable

2/25/30

100(a)

50,000‌

50,179‌

Chesapeake

Funding

DAC,

Series

2026-1A,

Class

4.96%,

2/15/35(a)

100,000‌

99,750‌

Ent

Auto

Receivables

Trust,

Series

2023-1A,

Class

A4,

6.26%,

11/15/29,

Callable

4/15/28

100(a)

50,000‌

50,627‌

Enterprise

Fleet

Financing

LLC,

Series

2024-1,

Class

A2,

5.23%,

3/20/30,

Callable

7/20/27

100(a)

90,136‌

90,440‌

GLS

Auto

Select

Receivables

Issuer

Trust,

Series

2025-4A,

Class

5.14%,

12/15/31,

Callable

11/15/29

100(a)

100,000‌

99,838‌

GLS

Auto

Select

Receivables

Trust,

Series

2024-3A,

Class

5.92%,

8/15/30,

Callable

5/15/29

100(a)

100,000‌

101,855‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

ABS

Auto

(7.1%):

(continued)

GreenState

Auto

Receivables

Trust,

Series

2024-1A,

Class

A3,

5.19%,

1/16/29,

Callable

1/15/28

100(a)

124,207‌

124,615‌

LAD

Auto

Receivables

Trust,

Series

2024-1A,

Class

5.64%,

6/15/29,

Callable

1/15/28

100(a)

100,000‌

101,036‌

Merchants

Fleet

Funding

LLC,

Series

2023-1A,

Class

7.21%,

5/20/36,

Callable

8/20/26

100(a)

123,897‌

124,043‌

PenFed

Auto

Receivables

Owner

Trust,

Series

2025-A,

Class

4.37%,

7/15/31,

Callable

10/15/29

100(a)

25,000‌

24,484‌

Santander

Bank

Auto

Credit-Linked

Notes,

Series

2026-A,

Class

4.95%,

7/17/34,

Callable

7/15/30

100(a)

23,000‌

22,954‌

SFS

Auto

Receivables

Securitization

Trust,

Series

2026-2A,

Class

4.99%,

7/20/34,

Callable

9/20/30

100(a)

10,000‌

9,976‌

Stellantis

Financial

Underwritten

Enhanced

Lease

Trust

Series

2026-BA,

Class

4.75%,

7/20/30,

Callable

4/20/29

100(a)

21,000‌

20,880‌

Series

2026-BA,

Class

5.04%,

3/20/31,

Callable

4/20/29

100(a)

24,000‌

23,877‌

Truist

Bank

Auto

Credit-Linked

Notes,

Series

2026-1,

Class

5.07%,

6/26/34,

Callable

4/25/30

100(a)

19,000‌

18,984‌

Westlake

Automobile

Receivables

Trust,

Series

2026-P1,

Class

4.38%,

8/15/31,

Callable

11/15/28

100(a)

100,000‌

98,754‌

1,533,606‌

ABS

Other

(

Amur

Equipment

Finance

Receivables

LLC,

Series

2022-2A,

Class

7.25%,

5/21/29,

Callable

8/20/26

100(a)

100,000‌

100,349‌

Auxilior

Term

Funding

LLC,

Series

2024-1A,

Class

A3,

5.49%,

7/15/31,

Callable

2/15/29

100(a)

120,088‌

121,115‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

ABS

Other

(8.4%):

(continued)

CCG

Receivables

Trust

Series

2025-1,

Class

4.69%,

10/14/32,

Callable

10/14/28

100(a)

100,000‌

99,822‌

Series

2026-1,

Class

5.17%,

1/17/34,

Callable

2/14/30

100(a)

6,000‌

5,989‌

Clarus

Capital

Funding

LLC,

Series

2024-1A,

Class

A2,

4.71%,

8/20/32,

Callable

1/20/28

100(a)

87,615‌

87,733‌

Crossroads

Asset

Trust,

Series

2024-

Class

A2,

5.90%,

8/20/30,

Callable

1/20/28

100(a)

30,013‌

30,192‌

Dext

ABS

LLC,

Series

2025-1,

Class

5.65%,

2/15/36,

Callable

3/15/29

100(a)

100,000‌

100,171‌

DLLAD

LLC,

Series

2024-1A,

Class

A3,

5.30%,

7/20/29,

Callable

1/20/29

100(a)

100,000‌

100,905‌

DLLMT

LLC,

Series

2024-1A,

Class

A3,

4.84%,

8/21/28,

Callable

5/20/28

100(a)

86,393‌

86,618‌

DLLST

LLC,

Series

2024-1A,

Class

A3,

5.05%,

8/20/27,

Callable

8/20/27

100(a)

72,400‌

72,534‌

GreatAmerica

Leasing

Receivables

Funding

LLC,

Series

2026-1,

Class

5.44%,

5/15/34,

Callable

10/15/30

100(a)

25,000‌

25,110‌

NMEF

Funding

LLC

Series

2024-A,

Class

A2,

5.15%,

12/15/31,

Callable

2/15/28

100(a)

82,129‌

82,410‌

Series

2026-A,

Class

4.48%,

2/15/34,

Callable

12/15/29

100(a)

100,000‌

98,125‌

Series

2026-A,

Class

4.71%,

2/15/34,

Callable

12/15/29

100(a)

100,000‌

98,818‌

PEAC

Solutions

Receivables

LLC

Series

2025-1A,

Class

A2,

4.94%,

10/20/28,

Callable

10/20/28

100(a)

97,305‌

97,543‌

Series

2025-1A,

Class

5.20%,

7/20/32,

Callable

10/20/28

100(a)

95,000‌

95,577‌

Post

Road

Equipment

Finance

LLC,

Series

2024-1A,

Class

A2,

5.59%,

11/15/29,

Callable

3/15/27

100(a)

10,309‌

10,318‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

ABS

Other

(8.4%):

(continued)

QTS

Issuer

ABS

LLC,

Series

2026-

7A,

Class

A23,

6.22%,

7/5/56,

Callable

7/5/30

100(a)

25,000‌

24,965‌

SCF

Equipment

Leasing

LLC

Series

2024-1A,

Class

A3,

5.52%,

1/20/32,

Callable

11/20/29

100(a)

90,659‌

91,578‌

Series

2025-1A,

Class

A3,

5.11%,

11/21/33,

Callable

10/20/28

100(a)

100,000‌

100,658‌

Trinity

Rail

Leasing

LLC,

Series

2021-

1A,

Class

2.26%,

7/19/51,

Callable

7/19/26

100(a)

159,014‌

149,788‌

Volvo

Financial

Equipment

LLC,

Series

2025-1A,

Class

A3,

4.46%,

5/15/29,

Callable

2/15/29

100(a)

80,000‌

80,013‌

1,760,331‌

Total

Asset-Backed

Securities

(Cost

$3,305,088)

3,293,937‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Collateralized

Loan

Obligations

(0.2%)

Cash

Flow

CLO

(

720

East

CLO

Ltd.,

Series

2024-1A,

Class

A2R,

5.07%

(TSFR3M+140bps),

7/15/39(a)(b)

5,000‌

OCP

CLO

Ltd.,

Series

2020-18AR,

Class

A2R3

(TSFR3M+140bps),

7/21/39(a)(b)

14,000‌

Venture

CLO

Ltd.,

Series

2023-

47A,

Class

AJRR,

5.22%

(TSFR3M+155bps),

4/20/36(a)(b)

25,000‌

44,000‌

Total

Collateralized

Loan

Obligations

(Cost

$44,000)

44,000‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Collateralized

Mortgage

Obligations

(8.4%)

Agency

CMO

Other

(

Federal

Home

Loan

Mortgage

Corporation

REMICs,

Series

5665,

Class

HE,

5.00%,

6/25/36

17,213‌

17,110‌

Federal

Home

Loan

Mortgage

Corporation

STRIPS

Series

440,

Class

DB,

4.50%,

5/25/36

10,222‌

10,022‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Agency

CMO

Other

(0.2%):

(continued)

Series

452,

Class

AB,

5.05%,

6/25/36

17,470‌

17,460‌

44,592‌

Commercial

MBS

(

Arbor

Multifamily

Mortgage

Securities

Trust,

Series

2020-

MF1,

Class

AS,

3.06%,

5/15/53,

Callable

5/15/30

100(a)(c)

150,000‌

139,513‌

BOS

Trust,

Series

2026-LYRK,

Class

5.22%,

5/11/41(a)(c)(d)

100,000‌

99,276‌

Trust

Series

2025-ROIC,

Class

4.77%

(TSFR1M+114bps),

3/15/30(a)(b)(d)

24,099‌

24,056‌

Series

2026-CLS,

Class

5.03%

(TSFR1M+140bps),

5/15/43(a)

(b)(d)

150,000‌

150,164‌

Series

2025-VOLT,

Class

5.33%

(TSFR1M+170bps),

12/15/44(a)

(b)(d)

150,000‌

150,127‌

COMM

Mortgage

Trust,

Series

2024-

277P,

Class

7.23%,

8/10/44(a)

(c)(d)

100,000‌

104,721‌

Hudson

Yards

Mortgage

Trust

Series

2026-10HY,

Class

5.09%,

12/10/39(a)(c)(d)

19,000‌

19,050‌

Series

2026-10HY,

Class

5.33%,

12/10/39(a)(c)(d)

10,000‌

10,024‌

INT

Commercial

Mortgage

Trust,

Series

2025-PLAZA,

Class

5.34%,

11/5/37(a)(c)(d)

150,000‌

149,457‌

IRV

Trust,

Series

2025-200P,

Class

5.47%,

3/14/47,

Callable

2/14/35

100(a)(c)(d)

10,000‌

10,067‌

Commercial

Mortgage

Trust,

Series

2026-MRCO,

Class

5.13%

(TSFR1M+150bps),

6/15/39(a)(b)(d)

150,000‌

150,335‌

Manhattan

West

Mortgage

Trust

Series

2020-1MW,

Class

2.13%,

9/10/39(a)(d)

150,000‌

145,194‌

Series

2026-2MW,

Class

5.50%,

6/10/48(a)(c)(d)

25,000‌

25,181‌

Series

2026-2MW,

Class

5.92%,

6/10/48(a)(c)(d)

25,000‌

25,045‌

Series

2026-2MW,

Class

5.72%,

6/10/48(a)(c)(d)

25,000‌

25,131‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Commercial

MBS

(8.2%):

(continued)

NYC

Commercial

Mortgage

Trust,

Series

2026-1PARK,

Class

4.88%

(TSFR1M+125bps),

2/15/43(a)(b)(d)

25,000‌

24,971‌

SCOTT

Trust,

Series

2023-SFS,

Class

5.91%,

3/10/40(a)(d)

100,000‌

101,135‌

SHOPS

Commercial

Mortgage

Trust,

Series

2026-CSTL,

Class

4.97%,

5/5/39(a)(c)(d)

150,000‌

148,831‌

SLG

Office

Trust

Series

2026-OMA,

Class

5.13%,

4/15/41(a)(c)(d)

30,000‌

29,952‌

Series

2026-OMA,

Class

5.33%,

4/15/41(a)(c)(d)

100,000‌

99,968‌

Series

2021-OVA,

Class

2.59%,

7/15/41(a)(d)

4,000‌

3,561‌

SWCH

Commercial

Mortgage

Trust,

Series

2025-DATA,

Class

5.07%

(TSFR1M+144bps),

2/15/42(a)

(b)(d)

100,000‌

99,328‌

1,735,087‌

Total

Collateralized

Mortgage

Obligations

(Cost

$1,786,478)

1,779,679‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Senior

Secured

Loan

(2.1%)

Energy

(

Colossus

Acquireco

LLC,

Initial

Term

Loan,

First

Lien,

5.39%

(SOFR01M+175bps),

1/10/33(b)

100,000‌

99,292‌

Financials

(

Ardonagh

Group

Finco

Pty

Ltd.,

Syndicated

Facility

Loan,

First

Lien,

6.70%

(SOFR03M+300bps),

2/18/31(b)

100,000‌

96,563‌

The

Edelman

Financial

Engines

Center

LLC,

Initial

Term

Loan,

First

Lien,

7.62%

(SOFR01M+400bps),

11/28/31(b)

100,000‌

100,203‌

196,766‌

Information

Technology

(

Metropolis

Technologies,

Inc.,

Initial

Term

Loan,

First

Lien,

8.92%

(SOFR03M+525bps),

11/3/32(b)

100,000‌

98,167‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Information

Technology

(0.6%):

(continued)

Shift4

Payments

LLC,

Term

Loan

First

Lien,

7/30/32(c)(e)

50,000‌

49,250‌

147,417‌

Total

Senior

Secured

Loan

(Cost

$447,498)

443,475‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Corporate

Bonds

(18.0%)

Communication

Services

(

Lamar

Media

Corp.

3.63%,

1/15/31,

Callable

7/17/26

101.81

12,000‌

11,187‌

5.38%,

11/1/33,

Callable

11/1/28

102.69

(a)

12,000‌

11,760‌

Uniti

Group

LP/Uniti

Group

Finance,

Inc./CSL

Capital

LLC,

6.50%,

2/15/29,

Callable

7/12/26

100

(a)

50,000‌

49,605‌

72,552‌

Consumer

Discretionary

(

Asbury

Automotive

Group,

Inc.,

5.00%,

2/15/32,

Callable

11/15/26

102.5

(a)

12,000‌

11,460‌

AutoNation,

Inc.,

5.89%,

3/15/35,

Callable

12/15/34

100

5,000‌

5,102‌

D.R.

Horton,

Inc.,

5.50%,

10/15/35,

Callable

7/15/35

100

35,000‌

35,728‌

Genuine

Parts

Co.,

2.75%,

2/1/32,

Callable

11/1/31

100

15,000‌

13,071‌

Group

Automotive,

Inc.,

6.38%,

1/15/30,

Callable

7/15/26

103.19

(a)

12,000‌

12,156‌

LKQ

Corp.,

6.25%,

6/15/33,

Callable

3/15/33

100

15,000‌

15,500‌

Meritage

Homes

Corp.,

5.65%,

3/15/35,

Callable

12/15/34

100

35,000‌

35,369‌

O'Reilly

Automotive,

Inc.,

5.00%,

8/19/34,

Callable

5/19/34

100

35,000‌

34,621‌

Taylor

Morrison

Communities,

Inc.,

5.75%,

11/15/32,

Callable

5/15/32

100

(a)

29,000‌

29,857‌

Toll

Brothers

Finance

Corp.,

5.60%,

6/15/35,

Callable

3/15/35

100

15,000‌

15,285‌

208,149‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Consumer

Staples

(

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

LLC

6.63%,

7/15/30,

Callable

7/16/26

103.31

(a)

25,000‌

25,010‌

5.60%,

1/15/31,

Callable

12/15/30

100

(a)

25,000‌

24,335‌

The

J.M.

Smucker

Co.,

6.50%,

11/15/53,

Callable

5/15/53

100

35,000‌

38,164‌

87,509‌

Energy

(

Cheniere

Energy

Partners

LP,

5.55%,

10/30/35,

Callable

4/30/35

100

35,000‌

35,543‌

Coterra

Energy,

Inc.,

5.40%,

2/15/35,

Callable

11/15/34

100

15,000‌

14,905‌

Diamondback

Energy,

Inc.

5.40%,

4/18/34,

Callable

1/18/34

100

35,000‌

35,495‌

5.75%,

4/18/54,

Callable

10/18/53

100

35,000‌

34,024‌

Midstream,

Inc.,

5.80%,

12/15/34,

Callable

9/15/34

100

(a)

35,000‌

35,778‌

Enterprise

Products

Operating

LLC,

5.20%,

1/15/36,

Callable

10/15/35

100

15,000‌

15,051‌

Florida

Gas

Transmission

Co.

LLC,

5.75%,

7/15/35,

Callable

4/15/35

100

(a)

13,000‌

13,357‌

Murphy

Oil

USA,

Inc.,

5.88%,

6/1/34,

Callable

6/1/29

102.94

(a)

25,000‌

25,072‌

NGPL

PipeCo

LLC,

5.60%,

8/15/36,

Callable

2/15/36

100

(a)

16,000‌

15,893‌

Permian

Resources

Operating

LLC,

6.25%,

2/1/33,

Callable

8/1/27

103.13

(a)

19,000‌

19,405‌

Plains

All

American

Pipeline

LP/

PAA

Finance

Corp.,

5.70%,

9/15/34,

Callable

6/15/34

100

15,000‌

15,325‌

Viper

Energy

Partners

LLC,

5.70%,

8/1/35,

Callable

5/1/35

100

12,000‌

12,160‌

272,008‌

Financials

(

Acrisure

LLC/Acrisure

Finance,

Inc.

8.25%,

2/1/29,

Callable

8/1/26

104.13

(a)

25,000‌

23,525‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Financials

(4.7%):

(continued)

6.00%,

8/1/29,

Callable

8/1/26

100

(a)

19,000‌

16,810‌

7.50%,

11/6/30,

Callable

8/1/26

103.75

(a)

35,000‌

33,186‌

6.75%,

7/1/32,

Callable

7/1/28

103.38

(a)

25,000‌

22,476‌

Affiliated

Managers

Group,

Inc.,

5.50%,

2/15/36,

Callable

11/15/35

100

15,000‌

14,842‌

Alliant

Holdings

Intermediate

LLC/

Alliant

Holdings

Co-Issuer

6.50%,

10/1/31,

Callable

10/1/27

103.25

(a)

5,000‌

4,985‌

7.38%,

10/1/32,

Callable

10/1/27

103.69

(a)

8,000‌

7,948‌

Amynta

Agency

Borrower,

Inc.

and

Amynta

Warranty

Borrower,

Inc.,

7.50%,

7/15/33,

Callable

7/15/28

103.75

(a)

35,000‌

33,590‌

Arthur

Gallagher

Co.

5.15%,

2/15/35,

Callable

11/15/34

100

33,000‌

32,771‌

5.55%,

2/15/55,

Callable

8/15/54

100

25,000‌

23,727‌

Baldwin

Insurance

Group

Holdings

LLC/Baldwin

Insurance

Group

Holdings

Finance,

7.13%,

5/15/31,

Callable

5/15/27

103.56

(a)

27,000‌

27,084‌

BCPE

Flavor

Debt

Merger

Sub

LLC

and

BCPE

Flavor

Issuer,

Inc.,

9.50%,

7/1/32,

Callable

7/1/28

104.75

(a)

15,000‌

14,467‌

Block

Financial

LLC

3.88%,

8/15/30,

Callable

5/15/30

100

16,000‌

15,194‌

5.38%,

9/15/32,

Callable

7/15/32

100

35,000‌

34,291‌

Blue

Owl

Finance

LLC,

6.25%,

4/18/34,

Callable

1/18/34

100

15,000‌

14,680‌

Brown

Brown,

Inc.

5.65%,

6/11/34,

Callable

3/11/34

100

33,000‌

33,404‌

5.55%,

6/23/35,

Callable

3/23/35

100

33,000‌

32,949‌

6.25%,

6/23/55,

Callable

12/12/54

100

33,000‌

33,292‌

Burford

Capital

Global

Finance

LLC

6.25%,

4/15/28,

Callable

8/1/26

100

(a)

12,000‌

11,878‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Financials

(4.7%):

(continued)

7.50%,

7/15/33,

Callable

7/15/28

103.75

(a)

12,000‌

10,166‌

Citadel

Securities

Global

Holdings

LLC,

5.75%,

3/27/36,

Callable

12/27/35

100

(a)

35,000‌

34,653‌

CoBank

ACB,

6.25%(TSFR3M+466bps)

(b)(f)

7,000‌

Enstar

Finance

LLC,

5.50%(H15T5Y+401bps),

1/15/42,

Callable

1/15/27

100

(b)

35,000‌

34,924‌

EZCORP,

Inc.,

7.38%,

4/1/32,

Callable

4/1/28

103.69

(a)

12,000‌

12,586‌

Global

Payments,

Inc.,

5.55%,

11/15/35,

Callable

8/15/35

100

27,000‌

26,159‌

Hightower

Holding

LLC

6.75%,

4/15/29,

Callable

8/1/26

100

(a)

12,000‌

11,956‌

9.13%,

1/31/30,

Callable

8/1/26

104.56

(a)

12,000‌

12,505‌

HUB

International

Ltd.

5.63%,

12/1/29,

Callable

8/1/26

101.41

(a)

9,000‌

8,949‌

7.38%,

1/31/32,

Callable

1/31/27

103.69

(a)

18,000‌

18,330‌

Jane

Street

Group/JSG

Finance,

Inc.,

6.75%,

5/1/33,

Callable

5/1/28

103.38

(a)

18,000‌

18,495‌

Jefferies

Finance

LLC/JFIN

Co-Issuer

Corp.,

6.63%,

10/15/31,

Callable

10/15/27

103.31

(a)

12,000‌

11,815‌

Jefferies

Financial

Group,

Inc.,

5.50%,

2/15/36,

Callable

11/15/35

100

15,000‌

14,474‌

Ladder

Capital

Finance

Holdings

LLLP/Ladder

Capital

Finance

Corp.,

7.00%,

7/15/31,

Callable

7/15/27

103.5

(a)

19,000‌

19,696‌

LPL

Holdings,

Inc.

5.65%,

3/15/35,

Callable

12/15/34

100

35,000‌

34,793‌

5.75%,

6/15/35,

Callable

3/15/35

100

35,000‌

35,023‌

Mobius

Merger

Sub,

Inc.,

9.00%,

6/1/30,

Callable

8/1/26

104.5

(a)

25,000‌

16,703‌

MSCI,

Inc.,

5.15%,

3/15/36,

Callable

12/15/35

100

32,000‌

30,908‌

MSD

Investment

Corp.

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Financials

(4.7%):

(continued)

6.38%,

6/12/29,

Callable

5/12/29

100

(a)

7,000‌

7,014‌

6.13%,

2/5/31,

Callable

1/5/31

100

(a)

11,000‌

10,739‌

Osaic

Holdings,

Inc.

6.75%,

8/1/32,

Callable

8/1/28

103.38

(a)

25,000‌

25,050‌

8.00%,

8/1/33,

Callable

8/1/28

104

(a)

25,000‌

25,054‌

Rocket

Cos.,

Inc.

6.38%,

8/1/33,

Callable

8/1/28

103.19

(a)

12,000‌

12,207‌

6.50%,

6/15/34,

Callable

6/15/29

103.25

(a)

10,000‌

10,256‌

Ryan

Specialty

LLC,

5.88%,

8/1/32,

Callable

8/1/27

102.94

(a)

31,000‌

30,499‌

Santander

Holdings

USA,

Inc.,

5.70%(SOFR+160bps),

6/5/37,

Callable

6/5/36

100

(b)

25,000‌

24,988‌

Stewart

Information

Services

Corp.,

3.60%,

11/15/31,

Callable

8/15/31

100

12,000‌

10,665‌

Stonebriar

ABF

Issuer

LLC,

8.13%,

12/15/30,

Callable

12/15/27

104.06

(a)

12,000‌

12,540‌

Willis

North

America,

Inc.,

5.15%,

3/15/36,

Callable

12/15/35

100

22,000‌

21,568‌

980,814‌

Health

Care

(

180

Medical,

Inc.,

5.30%,

10/8/35,

Callable

7/8/35

100

(a)

15,000‌

14,710‌

Alcon

Finance

Corp.,

5.75%,

12/6/52,

Callable

6/6/52

100

(a)

30,000‌

29,755‌

AthenaHealth

Group,

Inc.,

6.50%,

2/15/30,

Callable

8/1/26

101.63

(a)

12,000‌

11,507‌

Baxter

International,

Inc.,

5.65%,

12/15/35,

Callable

9/15/35

100

12,000‌

11,896‌

Centene

Corp.

4.63%,

12/15/29,

Callable

8/1/26

101.54

7,000‌

6,818‌

2.50%,

3/1/31,

Callable

12/1/30

100

25,000‌

21,834‌

DENTSPLY

Sirona,

Inc.

3.25%,

6/1/30,

Callable

3/1/30

100

18,000‌

16,633‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Health

Care

(1.0%):

(continued)

8.37%(H15T5Y+438bps),

9/12/55,

Callable

6/12/30

100

(b)

4,000‌

3,997‌

Gaia

Purchaser,

Inc.,

7.63%,

7/15/33,

Callable

7/15/29

103.81

(a)

9,000‌

9,103‌

Healthcare

Technologies,

Inc.,

4.95%,

12/15/35,

Callable

9/15/35

100

13,000‌

12,681‌

Prestige

Brands,

Inc.,

6.25%,

7/15/34,

Callable

7/15/29

103.13

25,000‌

VSP

Optical

Group,

Inc.

5.45%,

12/1/35,

Callable

9/1/35

100

(a)

2,000‌

1,984‌

5.65%,

6/1/36,

Callable

3/1/36

100

(a)

4,000‌

4,010‌

Zoetis,

Inc.,

5.00%,

8/17/35,

Callable

5/17/35

100

35,000‌

34,564‌

204,492‌

Industrials

(

Acuity

Brands

Lighting,

Inc.,

2.15%,

12/15/30,

Callable

9/15/30

100

15,000‌

13,435‌

American

Builders

Contractors

Supply

Co.,

Inc.,

4.00%,

1/15/28,

Callable

8/1/26

100

(a)

12,000‌

11,795‌

Arcosa,

Inc.,

6.88%,

8/15/32,

Callable

8/15/27

103.44

(a)

35,000‌

36,518‌

Axon

Enterprise,

Inc.,

6.25%,

3/15/33,

Callable

3/15/28

103.13

(a)

12,000‌

12,305‌

BlueLinx

Holdings,

Inc.,

6.00%,

11/15/29,

Callable

8/1/26

101.5

(a)

12,000‌

11,841‌

Carlisle

Cos.,

Inc.,

5.55%,

9/15/40,

Callable

6/15/40

100

35,000‌

34,757‌

Carpenter

Technology

Corp.,

5.63%,

3/1/34,

Callable

3/1/29

102.81

(a)

17,000‌

16,999‌

Experian

Finance

US,

Inc.,

5.35%,

8/24/36,

Callable

5/24/36

100

(a)

20,000‌

19,917‌

GATX

Corp.,

5.50%,

6/15/35,

Callable

3/15/35

100

13,000‌

13,144‌

Genesee

Wyoming,

Inc.,

6.25%,

4/15/32,

Callable

4/15/27

103.13

(a)

12,000‌

12,181‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Industrials

(2.4%):

(continued)

GXO

Logistics,

Inc.,

6.50%,

5/6/34,

Callable

2/6/34

100

15,000‌

15,716‌

Herc

Holdings,

Inc.,

7.25%,

6/15/33,

Callable

6/15/28

103.63

(a)

5,000‌

5,214‌

Hubbell,

Inc.,

4.80%,

11/15/35,

Callable

8/15/35

100

13,000‌

12,637‌

North

America

Holdings,

Inc.,

6.13%,

7/31/32,

Callable

7/31/28

103.06

(a)

35,000‌

35,310‌

Kennametal,

Inc.,

5.80%,

5/28/36,

Callable

2/28/36

100

5,000‌

5,053‌

MasTec,

Inc.,

5.90%,

6/15/29,

Callable

5/15/29

100

15,000‌

15,430‌

Masterbrand,

Inc.,

7.00%,

7/15/32,

Callable

7/15/27

103.5

(a)

12,000‌

12,137‌

Otis

Worldwide

Corp.

5.13%,

9/4/35,

Callable

6/4/35

100

35,000‌

34,859‌

3.11%,

2/15/40,

Callable

8/15/39

100

33,000‌

25,361‌

Paychex,

Inc.,

5.60%,

4/15/35,

Callable

1/15/35

100

30,000‌

30,297‌

Penske

Truck

Leasing

Co.

LP/PTL

Finance

Corp.,

6.20%,

6/15/30,

Callable

4/15/30

100

(a)

15,000‌

15,658‌

Regal

Rexnord

Corp.,

6.40%,

4/15/33,

Callable

1/15/33

100

12,000‌

12,736‌

Resideo

Funding,

Inc.,

6.50%,

7/15/32,

Callable

7/15/27

103.25

(a)

12,000‌

12,072‌

Roller

Bearing

Co.

America,

Inc.,

4.38%,

10/15/29,

Callable

8/1/26

101.09

(a)

12,000‌

11,714‌

RXO,

Inc.,

6.38%,

5/15/31,

Callable

5/15/28

103.19

(a)

12,000‌

12,195‌

Stonepeak

Nile

Parent

LLC,

7.25%,

3/15/32,

Callable

3/15/28

103.63

(a)

12,000‌

12,430‌

Textron,

Inc.,

4.95%,

3/15/36,

Callable

12/15/35

100

15,000‌

14,601‌

The

Timken

Co.,

4.13%,

4/1/32,

Callable

1/1/32

100

32,000‌

30,394‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Industrials

(2.4%):

(continued)

Verisk

Analytics,

Inc.,

5.13%,

3/15/36,

Callable

12/15/35

100

15,000‌

14,656‌

511,362‌

Information

Technology

(

Broadcom,

Inc.,

4.95%,

1/15/36,

Callable

10/15/35

100

48,000‌

47,161‌

Cadence

Design

Systems,

Inc.,

4.70%,

9/10/34,

Callable

6/10/34

100

22,000‌

21,534‌

Citadel

Finance

LLC,

5.15%,

2/14/31,

Callable

1/14/31

100

(a)

15,000‌

14,643‌

Cloud

Software

Group

LLC,

6.50%,

3/31/29,

Callable

7/12/26

103.25

(a)

26,000‌

25,237‌

Ellucian

Holdings,

Inc.,

6.50%,

12/1/29,

Callable

12/1/26

103.25

(a)

25,000‌

24,222‌

Foundry

Holdco

LLC

6.40%,

1/25/38,

Callable

10/25/37

100

(a)

35,000‌

37,469‌

6.30%,

1/25/39,

Callable

10/25/38

100

(a)

35,000‌

37,200‌

Keysight

Technologies,

Inc.,

4.95%,

10/15/34,

Callable

7/15/34

100

35,000‌

34,592‌

NCR

Voyix

Corp.,

5.13%,

4/15/29,

Callable

7/12/26

100

(a)

12,000‌

11,705‌

Qnity

Electronics,

Inc.

5.75%,

8/15/32,

Callable

8/15/28

102.88

(a)

32,000‌

32,192‌

6.25%,

8/15/33,

Callable

8/15/28

103.13

(a)

25,000‌

25,441‌

Rocket

Software,

Inc.,

9.00%,

11/28/28,

Callable

7/12/26

102

(a)

27,000‌

26,794‌

Roper

Technologies,

Inc.,

5.10%,

9/15/35,

Callable

6/15/35

100

32,000‌

31,089‌

ServiceNow,

Inc.

5.40%,

5/15/36,

Callable

2/15/36

100

10,000‌

9,988‌

6.30%,

5/15/56,

Callable

11/15/55

100

3,000‌

3,051‌

Synopsys,

Inc.,

5.15%,

4/1/35,

Callable

1/1/35

100

35,000‌

34,825‌

SYNNEX

Corp.,

5.30%,

10/10/35,

Callable

7/10/35

100

8,000‌

7,871‌

Trimble,

Inc.,

6.10%,

3/15/33,

Callable

12/15/32

100

35,000‌

36,542‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Information

Technology

(2.4%):

(continued)

UKG,

Inc.,

6.88%,

2/1/31,

Callable

2/1/27

103.44

(a)

29,000‌

28,157‌

VMware

LLC,

2.20%,

8/15/31,

Callable

5/15/31

100

15,000‌

13,211‌

502,924‌

Materials

(

Amcor

Flexibles

North

America,

Inc.,

5.13%,

3/12/36,

Callable

12/12/35

100

32,000‌

31,411‌

AmeriTex

HoldCo

Intermediate

LLC,

7.63%,

8/15/33,

Callable

8/15/28

103.81

(a)

25,000‌

26,134‌

Amrize

Finance

LLC,

5.40%,

4/7/35,

Callable

1/7/35

100

12,000‌

12,187‌

AptarGroup,

Inc.,

3.60%,

3/15/32,

Callable

12/15/31

100

13,000‌

12,035‌

CRH

America

Finance,

Inc.

5.00%,

2/9/36,

Callable

11/9/35

100

30,000‌

29,353‌

5.88%,

1/9/55,

Callable

7/9/54

100

35,000‌

35,299‌

Eagle

Materials,

Inc.,

5.00%,

3/15/36,

Callable

12/15/35

100

5,000‌

4,831‌

LYB

International

Finance

III

LLC,

3.38%,

10/1/40,

Callable

4/1/40

100

9,000‌

6,579‌

Martin

Marietta

Materials,

Inc.

5.15%,

12/1/34,

Callable

9/1/34

100

35,000‌

35,012‌

5.50%,

12/1/54,

Callable

6/1/54

100

35,000‌

33,506‌

Sonoco

Products

Co.,

5.00%,

9/1/34,

Callable

6/1/34

100

25,000‌

24,490‌

Southern

Copper

Corp.,

5.35%,

6/24/36,

Callable

3/24/36

100

8,000‌

7,945‌

Sword

Purchaser

LLC,

8.25%,

4/15/33,

Callable

4/15/29

104.13

(a)

12,000‌

12,413‌

Syensqo

Finance

America

LLC,

5.85%,

6/4/34,

Callable

3/4/34

100

(a)

15,000‌

15,326‌

The

Sherwin-Williams

Co.,

5.15%,

8/15/35,

Callable

5/15/35

100

33,000‌

33,050‌

Vulcan

Materials

Co.

5.35%,

12/1/34,

Callable

9/1/34

100

29,000‌

29,430‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Materials

(1.8%):

(continued)

5.70%,

12/1/54,

Callable

6/1/54

100

35,000‌

34,730‌

Westlake

Corp.,

5.55%,

11/15/35,

Callable

8/15/35

100

10,000‌

9,909‌

393,640‌

Real

Estate

(

Alexandria

Real

Estate

Equities,

Inc.,

5.50%,

10/1/35,

Callable

7/1/35

100

33,000‌

32,966‌

American

Assets

Trust

LP,

6.15%,

10/1/34,

Callable

7/1/34

100

6,000‌

6,098‌

Boston

Properties

LP,

2.45%,

10/1/33,

Callable

7/1/33

100

35,000‌

28,782‌

Essex

Portfolio

LP,

5.50%,

4/1/34,

Callable

1/1/34

100

33,000‌

33,643‌

Extra

Space

Storage

LP,

5.35%,

1/15/35,

Callable

10/15/34

100

33,000‌

33,142‌

Healthpeak

LLC,

5.38%,

2/15/35,

Callable

11/15/34

100

15,000‌

15,094‌

Kilroy

Realty

LP,

6.25%,

1/15/36,

Callable

10/15/35

100

35,000‌

35,503‌

Public

Storage

Operating

Co.,

5.00%,

7/1/35,

Callable

4/1/35

100

31,000‌

30,879‌

Regency

Centers

LP,

5.10%,

1/15/35,

Callable

10/15/34

100

31,000‌

30,995‌

South

Bow

USA

Infrastructure

Holdings

LLC,

5.58%,

10/1/34,

Callable

7/1/34

100

15,000‌

14,942‌

The

Howard

Hughes

Corp.

5.88%,

3/1/32,

Callable

9/1/28

102.94

(a)

13,000‌

12,901‌

6.13%,

3/1/34,

Callable

3/1/29

103.06

(a)

10,000‌

9,893‌

284,838‌

Utilities

(

Black

Hills

Corp.,

6.00%,

1/15/35,

Callable

10/15/34

100

15,000‌

15,576‌

CenterPoint

Energy

Houston

Electric

LLC,

5.05%,

3/1/35,

Callable

12/1/34

100

35,000‌

34,938‌

CenterPoint

Energy

Restoration

Bond

Co.

III

LLC,

4.86%,

12/15/39

35,000‌

33,947‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Utilities

(1.4%):

(continued)

Cleco

Power

LLC,

5.30%,

1/15/36,

Callable

10/15/35

100

(a)

33,000‌

32,760‌

CMS

Energy

Corp.,

4.75%(H15T5Y+412bps),

6/1/50,

Callable

3/1/30

100

(b)

12,000‌

11,749‌

Constellation

Energy

Generation

LLC,

5.00%,

2/1/31,

Callable

2/1/27

101.67

(a)

9,000‌

8,988‌

Duquesne

Light

Holdings,

Inc.,

2.78%,

1/7/32,

Callable

10/7/31

100

(a)

15,000‌

13,207‌

Entergy

Louisiana

LLC,

5.15%,

9/15/34,

Callable

6/15/34

100

35,000‌

35,314‌

Evergy

Missouri

West

Storm

Funding

LLC,

5.10%,

12/1/38

13,363‌

13,442‌

Interstate

Power

and

Light

Co.,

5.60%,

6/29/35,

Callable

3/29/35

100

15,000‌

15,388‌

NextEra

Energy

Capital

Holdings,

Inc.,

6.00%(H15T5Y+184bps),

10/1/56,

Callable

7/4/31

100

(b)

8,000‌

7,996‌

Public

Service

Co.

Oklahoma,

5.45%,

1/15/36,

Callable

10/15/35

100

23,000‌

23,232‌

The

AES

Corp.,

5.75%,

7/15/33,

Callable

5/15/33

100

4,000‌

4,024‌

Vistra

Operations

Co.

LLC

7.75%,

10/15/31,

Callable

10/15/26

103.88

(a)

20,000‌

20,953‌

6.88%,

4/15/32,

Callable

4/15/27

103.44

(a)

20,000‌

20,718‌

292,232‌

Total

Corporate

Bonds

(Cost

$3,832,726)

3,810,520‌

Yankee

Dollar

(3.7%)

Communication

Services

(

Altice

France

Lux

3/Altice

Holdings

10.00%,

1/15/33,

Callable

10/1/26

101

(a)

20,495‌

20,132‌

Altice

France

9.50%,

11/1/29,

Callable

10/1/26

101

(a)

12,000‌

12,185‌

6.50%,

4/15/32,

Callable

10/1/26

101

(a)

20,835‌

20,140‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Communication

Services

(0.4%):

(continued)

Telecom

Italia

Capital

SA,

7.20%,

7/18/36

25,000‌

27,353‌

79,810‌

Consumer

Discretionary

(

Gildan

Activewear,

Inc.,

5.40%,

10/7/35,

Callable

7/7/35

100

(a)

33,000‌

32,015‌

Viking

Ocean

Cruises

Ship

VII

Ltd.,

5.63%,

2/15/29,

Callable

7/17/26

100

(a)

40,000‌

39,971‌

71,986‌

Energy

(

Breakwater

Energy

Holdings

SARL,

9.25%,

11/15/30,

Callable

11/15/27

104.63

(a)

12,000‌

12,663‌

Harbour

Energy

PLC,

6.33%,

4/1/35,

Callable

1/1/35

100

(a)

15,000‌

15,287‌

27,950‌

Financials

(

Ardonagh

Finco

Ltd.,

7.75%,

2/15/31,

Callable

2/15/27

103.88

(a)

25,000‌

25,285‌

Ardonagh

Group

Finance

Ltd.,

8.88%,

2/15/32,

Callable

2/15/27

104.44

(a)

25,000‌

24,290‌

Ascot

Group

Ltd.,

6.35%(H15T5Y+238bps),

6/15/35,

Callable

3/15/30

100

(a)(b)

13,000‌

13,094‌

Azorra

Finance

Ltd.,

6.25%,

2/15/34,

Callable

2/15/29

103.13

(a)

22,000‌

21,317‌

Credit

Agricole

SA,

6.25%(SOFR+267bps),

1/10/35,

Callable

1/10/34

100

(a)(b)

25,000‌

26,042‌

Fidelis

Insurance

Holdings

Ltd.,

7.75%(H15T5Y+428bps),

6/15/55,

Callable

12/15/34

100

(b)

12,000‌

12,622‌

GGAM

Finance

Ltd.

6.88%,

4/15/29,

Callable

8/1/26

103.44

(a)

12,000‌

12,274‌

5.88%,

3/15/30,

Callable

9/15/26

102.94

(a)

12,000‌

12,032‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Financials

(1.4%):

(continued)

Howden

Refinance

PLC/Howden

Refinance

PLC/Howden

Refinance

LLC

7.25%,

2/15/31,

Callable

2/15/27

103.63

(a)

25,000‌

24,215‌

8.13%,

2/15/32,

Callable

2/15/27

104.06

(a)

55,000‌

49,514‌

Jones

Deslauriers

Insurance

Management,

Inc.

8.50%,

3/15/30,

Callable

8/1/26

104.25

(a)

31,000‌

31,663‌

6.88%,

10/1/33,

Callable

10/1/28

103.44

(a)

30,000‌

27,936‌

Nationwide

Building

Society,

5.54%(SOFR+165bps),

7/14/36,

Callable

7/14/35

100

(a)(b)

35,000‌

35,255‌

Westpac

Banking

Corp.,

3.02%(H15T5Y+153bps),

11/18/36,

Callable

11/18/31

100

(b)

15,000‌

13,402‌

328,941‌

Health

Care

(

1261229

Ltd.,

10.00%,

4/15/32,

Callable

4/15/28

105

(a)

25,000‌

25,306‌

Bausch

Lomb

Corp.,

8.38%,

10/1/28,

Callable

7/12/26

104.19

(a)

12,000‌

12,344‌

37,650‌

Industrials

(

Avianca

Midco

PLC,

9.50%,

1/28/31,

Callable

1/28/28

104.75

(a)

25,000‌

24,615‌

Avilease

Capital

Ltd.,

5.50%,

6/30/31,

Callable

5/30/31

100

(a)

8,000‌

8,044‌

Bombardier,

Inc.,

7.25%,

7/1/31,

Callable

7/1/27

103.63

(a)

25,000‌

26,172‌

Latam

Airlines

Group

SA,

7.63%,

1/7/31,

Callable

7/7/27

103.81

(a)

12,000‌

12,444‌

Energy

Solution

Ltd.,

5.88%,

4/2/36

(a)

35,000‌

35,316‌

nVent

Finance

SARL,

5.65%,

5/15/33,

Callable

2/15/33

100

15,000‌

15,406‌

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

Industrials

(0.7%):

(continued)

VistaJet

Malta

Finance

PLC/Vista

Management

Holding,

Inc.,

9.50%,

6/1/28,

Callable

8/1/26

102.38

(a)

25,000‌

25,330‌

147,327‌

Information

Technology

(

Open

Text

Corp.,

6.90%,

12/1/27,

Callable

11/1/27

100

(a)

50,000‌

51,117‌

Seagate

Data

Storage

Technology

Pte

Ltd.,

8.50%,

7/15/31,

Callable

7/15/26

104.25

(a)

12,000‌

12,540‌

63,657‌

Materials

(

Cemex

SAB

CV,

5.75%,

6/5/36,

Callable

3/5/36

100

25,000‌

24,894‌

Total

Yankee

Dollar

(Cost

$788,637)

782,215‌

Municipal

Bond

(0.0%)

†

Higher

Education

(

San

Antonio

Education

Facilities

Corp.

Revenue,

3.15%,

4/1/37

5,000‌

3,772‌

Total

Municipal

Bond

(Cost

$3,756)

3,772‌

U.S.

Government

Agency

Mortgage

(27.0%)

U.S.

Government

Agency

Mortgage

(

Federal

Home

Loan

Mortgage

Corporation

2.50%,

1/1/52

447,753‌

377,860‌

5.00%,

12/1/55

3/1/56

1,171,264‌

1,157,603‌

5.50%,

9/1/55

6/1/56

780,609‌

783,980‌

6.00%,

8/1/54

363,854‌

372,289‌

2,691,732‌

Federal

National

Mortgage

Association

3.00%,

3/1/53

442,474‌

387,512‌

3.50%,

12/1/52

12,093‌

11,102‌

4.00%,

7/1/53

2/1/55

431,706‌

406,727‌

4.50%,

3/1/56

810,876‌

778,836‌

5.00%,

6/1/56

10,000‌

9,836‌

5.50%,

10/1/55

6/1/56

791,094‌

794,589‌

2,388,602‌

Schedule

Portfolio

Investments

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Fixed

Income

ETF

See

notes

financial

statements.

Percentages

indicated

are

based

net

assets

June

30,

2026

SECURITY

DESCRIPTION

PRINCIPAL

AMOUNT

($)

VALUE

($)

U.S.

Government

Agency

Mortgage

(27.0%):

(continued)

Government

National

Mortgage

Association

3.00%,

2/20/52

4/20/52

43,319‌

38,127‌

3.50%,

4/20/56

648,803‌

582,614‌

4.50%,

9/20/52

3/20/56

35,585‌

33,897‌

654,638‌

Total

U.S.

Government

Agency

Mortgage

(Cost

$5,774,718)

5,734,972‌

U.S.

Treasury

Obligations

(24.5%)

U.S.

Treasury

Bonds

5.00%,

5/15/37

250,000‌

262,344‌

4.38%,

11/15/39

416,000‌

403,975‌

4.63%,

2/15/46

1,096,000‌

1,052,331‌

4.75%,

2/15/56

551,000‌

535,417‌

U.S.

Treasury

Notes

3.88%,

4/15/29

25,000‌

24,813‌

4.63%,

5/31/31

150,000‌

152,695‌

4.13%,

4/30/33

850,000‌

840,836‌

3.38%,

5/15/33

278,000‌

262,580‌

4.25%,

5/15/35

49,000‌

48,426‌

4.13%,

2/15/36

1,650,000‌

1,610,296‌

Total

U.S.

Treasury

Obligations

(Cost

$5,196,322)

5,193,713‌

Total

Investments

(Cost

$21,179,223)

—

99.4%

21,086,283‌

Other

assets

excess

liabilities

—

0.6%

131,190‌

21,217,473‌

†

Represents

less

than

0.05%.

(a)

Rule

144A

security

other

security

that

restricted

resale

institutional

investors.

June

30,

2026,

the

fair

value

these

securities

was

$7,286

(thousands)

and

amounted

34.3%

net

assets.

(b)

Variable

Floating-Rate

Security.

Rate

disclosed

June

30,

2026.

(c)

The

rate

for

certain

asset-backed

and

mortgage-backed

securities

may

vary

based

factors

relating

the

pool

assets

underlying

the

security.

The

rate

disclosed

the

rate

effect

June

30,

2026.

(d)

Security

interest

only.

(e)

The

rates

for

this

senior

secured

loan

will

known

settlement

date

the

loan,

subsequent

this

report

date.

Senior

secured

loans

have

rates

that

will

fluctuate

over

time

line

with

prevailing

interest

rates.

(f)

Security

perpetual

and

has

final

maturity

date

but

may

subject

calls

various

dates

the

future.

ABS

Asset-Based

Securities

bps

Basis

Points

CMO

Collateralized

Mortgage

Obligations

Continuously

callable

Investment

continuously

callable

will

continuously

callable

any

date

after

the

first

call

date

until

its

maturity.

H15T5Y

Year

Treasury

Constant

Maturity

Rate,

rate

disclosed

June

30,

2026

LLC

Limited

Liability

Corporation

Limited

Partnership

MBS

Mortgage

-Based

Securities

SOFR

Secured

Overnight

Financing

Rate

SOFR01M

Month

SOFR,

rate

disclosed

June

30,

2026

SOFR03M

Month

SOFR,

rate

disclosed

June

30,

2026

TSFR1M

Month

Term

SOFR,

rate

disclosed

June

30,

2026

TSFR3M

Month

Term

SOFR,

rate

disclosed

June

30,

2026

Futures

Contracts

Long

Futures

Index

Futures

Expiration

Date

Number

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

10-Year

U.S.

Treasury

Note

Futures

9/21/26

327,528‌

329,672‌

2,144‌

30-Year

U.S.

Treasury

Bond

Futures

9/21/26

221,320‌

227,000‌

5,680‌

7,824‌

Statements

Assets

and

Liabilities

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Small

Cap

Core

ETF

Timothy

Plan

Large/Mid

Cap

Core

ETF

ASSETS:

Investments,

value

(Cost

$303,848,091

and

$258,096,358)

358,631,355‌

303,636,338‌

Cash

540,099‌

550,854‌

Deposits

with

broker

for

futures

contracts

43,457‌

36,966‌

Interest

and

dividends

receivable

249,330‌

169,886‌

Receivable

for

capital

issued

12,333‌

—‌

Receivable

for

investments

sold

105,711‌

—‌

Variation

margin

receivable

open

futures

contracts

2,676‌

2,400‌

Reclaims

receivable

—‌

1,284‌

Total

Assets

359,584,961‌

304,397,728‌

LIABILITIES:

Payable

for

investments

purchased

7,745‌

—‌

Accrued

expenses

and

other

payables:

—‌

Investment

advisory

fees

145,154‌

127,954‌

Total

Liabilities

152,899‌

127,954‌

Net

Assets

359,432,062‌

304,269,774‌

NET

ASSETS

CONSIST

OF:

Capital

321,785,257‌

272,544,863‌

Total

distributable

earnings/(loss)

37,646,805‌

31,724,911‌

Net

Assets

359,432,062‌

304,269,774‌

Outstanding

(unlimited

authorized,

par

value):

7,500,000‌

6,037,008‌

Net

asset

value

per

47.92‌

50.40‌

Statements

Assets

and

Liabilities

continued

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

High

Dividend

Stock

ETF

Timothy

Plan

International

ETF

ASSETS:

Investments,

value

(Cost

$315,368,904

and

$203,166,502)

348,877,341‌

242,378,908‌

Foreign

currency,

value

(Cost

$—

and

$414,902)

—‌

414,865‌

Cash

1,287,936‌

1,254,916‌

Deposits

with

broker

for

futures

contracts

113,698‌

76,926‌

Interest

and

dividends

receivable

334,231‌

177,583‌

Variation

margin

receivable

open

futures

contracts

7,200‌

3,503‌

Reclaims

receivable

3,224‌

728,252‌

Total

Assets

350,623,630‌

245,034,953‌

LIABILITIES:

Payable

for

investments

purchased

—‌

338,944‌

Accrued

expenses

and

other

payables:

—‌

Investment

advisory

fees

148,494‌

123,323‌

Total

Liabilities

148,494‌

462,267‌

Net

Assets

350,475,136‌

244,572,686‌

NET

ASSETS

CONSIST

OF:

Capital

338,103,518‌

198,873,233‌

Total

distributable

earnings/(loss)

12,371,618‌

45,699,453‌

Net

Assets

350,475,136‌

244,572,686‌

Outstanding

(unlimited

authorized,

par

value):

8,297,350‌

6,600,000‌

Net

asset

value

per

42.24‌

37.06‌

Statements

Assets

and

Liabilities

continued

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Free

Cash

Flow

ETF

Timothy

Plan

Free

Cash

Flow

Growth

ETF

ASSETS:

Investments,

value

(Cost

$39,659,919

and

$32,656,577)

39,164,802‌

35,468,954‌

Cash

60,385‌

33,133‌

Interest

and

dividends

receivable

16,046‌

6,116‌

Total

Assets

39,241,233‌

35,508,203‌

LIABILITIES:

Payable

for

capital

redeemed

834‌

—‌

Accrued

expenses

and

other

payables:

—‌

Investment

advisory

fees

19,225‌

16,291‌

Total

Liabilities

20,059‌

16,291‌

Net

Assets

39,221,174‌

35,491,912‌

NET

ASSETS

CONSIST

OF:

Capital

39,655,900‌

32,629,533‌

Total

distributable

earnings/(loss)

(

434,726‌

)

2,862,379‌

Net

Assets

39,221,174‌

35,491,912‌

Outstanding

(unlimited

authorized,

par

value):

1,575,000‌

1,275,000‌

Net

asset

value

per

24.90‌

27.84‌

Statements

Assets

and

Liabilities

continued

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Fixed

Income

ETF

ASSETS:

Investments,

value

(Cost

$21,179,223)

21,086,283‌

Cash

325,283‌

Deposits

with

broker

for

futures

contracts

35,029‌

Interest

and

dividends

receivable

180,214‌

Receivable

for

investments

sold

58,912‌

Total

Assets

21,685,721‌

LIABILITIES:

Payable

for

investments

purchased

456,702‌

Variation

margin

payable

open

futures

contracts

2,203‌

Accrued

expenses

and

other

payables:

—‌

Investment

advisory

fees

9,343‌

Total

Liabilities

468,248‌

Net

Assets

21,217,473‌

NET

ASSETS

CONSIST

OF:

Capital

21,263,377‌

Total

distributable

earnings/(loss)

(

45,904‌

)

Net

Assets

21,217,473‌

Outstanding

(unlimited

authorized,

par

value):

850,000‌

Net

asset

value

per

24.96‌

Statements

Operations

For

the

Six

Months

Ended

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Small

Cap

Core

ETF

Timothy

Plan

Large/Mid

Cap

Core

ETF

Investment

Income:

Dividend

income

2,768,600‌

2,410,706‌

Interest

income

1,945‌

1,738‌

Foreign

tax

withholding

(2,411‌)

(49‌)

Total

Income

2,768,134‌

2,412,395‌

Expenses:

Investment

advisory

fees

796,809‌

856,946‌

Total

Expenses

796,809‌

856,946‌

Net

Investment

Income

(Loss)

1,971,325‌

1,555,449‌

Realized/Unrealized

Gains

(Losses)

from

Investments:

Net

realized

gains

(losses)

from

investments

6,220,462‌

7,748,840‌

Net

realized

gains

(losses)

from

in-kind

transactions

5,473,247‌

19,096,678‌

Net

realized

gains

(losses)

from

futures

contracts

129,102‌

80,730‌

Net

change

unrealized

appreciation/depreciation

investments

33,132,047‌

5,880,519‌

Net

change

unrealized

appreciation/depreciation

futures

contracts

35,589‌

(567‌)

Net

realized/unrealized

gains

investments

44,990,447‌

32,806,200‌

Change

net

assets

resulting

from

operations

46,961,772‌

34,361,649‌

Statements

Operations

continued

For

the

Six

Months

Ended

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

High

Dividend

Stock

ETF

Timothy

Plan

International

ETF

Investment

Income:

Dividend

income

4,557,573‌

4,863,022‌

Interest

income

2,363‌

134‌

Foreign

tax

withholding

19‌

(723,072‌)

Total

Income

4,559,955‌

4,140,084‌

Expenses:

Investment

advisory

fees

878,585‌

694,729‌

Total

Expenses

878,585‌

694,729‌

Net

Investment

Income

(Loss)

3,681,370‌

3,445,355‌

Realized/Unrealized

Gains

(Losses)

from

Investments:

Net

realized

gains

(losses)

from

investments

and

foreign

currency

transactions

8,117,825‌

(927,307‌)

Net

realized

gains

(losses)

from

in-kind

transactions

3,089,009‌

13,683,494‌

Net

realized

gains

(losses)

from

futures

contracts

63,284‌

34,919‌

Net

change

unrealized

appreciation/depreciation

investments

and

foreign

currency

translations

19,517,996‌

357,619‌

Net

change

unrealized

appreciation/depreciation

futures

contracts

5,336‌

2,121‌

Net

realized/unrealized

gains

investments

30,793,450‌

13,150,846‌

Change

net

assets

resulting

from

operations

34,474,820‌

16,596,201‌

Statements

Operations

continued

For

the

Six

Months

Ended

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Free

Cash

Flow

ETF

(a)

Timothy

Plan

Free

Cash

Flow

Growth

ETF

(a)

Investment

Income:

Dividend

income

78,786‌

19,917‌

Foreign

tax

withholding

(750‌)

—‌

Total

Income

78,036‌

19,917‌

Expenses:

Investment

advisory

fees

28,017‌

24,404‌

Total

Expenses

28,017‌

24,404‌

Net

Investment

Income

(Loss)

50,019‌

(4,487‌)

Realized/Unrealized

Gains

(Losses)

from

Investments:

Net

realized

gains

(losses)

from

in-kind

transactions

46,572‌

54,489‌

Net

change

unrealized

appreciation/depreciation

investments

(495,117‌)

2,812,377‌

Net

realized/unrealized

gains/losses

investments

(448,545‌)

2,866,866‌

Change

net

assets

resulting

from

operations

(398,526‌)

2,862,379‌

(a)

Commencement

operations

May

2026.

Statements

Operations

continued

For

the

Six

Months

Ended

June

30,

2026

(Unaudited)

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Fixed

Income

ETF

(a)

Investment

Income:

Interest

income

145,254‌

Total

Income

145,254‌

Expenses:

Investment

advisory

fees

16,906‌

Total

Expenses

16,906‌

Net

Investment

Income

(Loss)

128,348‌

Realized/Unrealized

Gains

(Losses)

from

Investments:

Net

realized

gains

(losses)

from

investments

(22,939‌)

Net

change

unrealized

appreciation/depreciation

investments

(92,940‌)

Net

change

unrealized

appreciation/depreciation

futures

contracts

7,824‌

Net

realized/unrealized

losses

investments

(108,055‌)

Change

net

assets

resulting

from

operations

20,293‌

(a)

Commencement

operations

May

2026.

Statements

Changes

Net

Assets

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Small

Cap

Core

ETF

Timothy

Plan

Large/Mid

Cap

Core

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

(Unaudited)

From

Investment

Activities:

Operations:

Net

investment

income

(loss)

1,971,325‌

2,426,523‌

1,555,449‌

2,652,940‌

Net

realized

gains

(losses)

11,822,811‌

10,341,636‌

26,926,248‌

19,019,633‌

Net

change

unrealized

appreciation/depreciation

33,167,636‌

3,454,985‌

5,879,952‌

4,283,554‌

Change

net

assets

resulting

from

operations

46,961,772‌

16,223,144‌

34,361,649‌

25,956,127‌

Distributions

Shareholders:

Distributions

(

1,575,022‌

)

(

2,465,950‌

)

(

1,403,374‌

)

(

2,714,595‌

)

Change

net

assets

resulting

from

distributions

shareholders

(

1,575,022‌

)

(

2,465,950‌

)

(

1,403,374‌

)

(

2,714,595‌

)

Change

net

assets

resulting

from

capital

transactions

36,824,048‌

93,698,090‌

(

46,395,594‌

)

26,667,469‌

Change

net

assets

82,210,798‌

107,455,284‌

(

13,437,319‌

)

49,909,001‌

Net

Assets:

Beginning

period

277,221,264‌

169,765,980‌

317,707,093‌

267,798,092‌

End

period

359,432,062‌

277,221,264‌

304,269,774‌

317,707,093‌

Capital

Transactions:

Proceeds

from

issued

58,256,101‌

155,876,643‌

23,918,998‌

78,804,046‌

Proceeds

from

issued

reorganization

—‌

18,016,109‌

Cost

redeemed

(

21,432,053‌

)

(

62,178,553‌

)

(

70,314,592‌

)

(

70,152,686‌

)

Change

net

assets

resulting

from

capital

transactions

36,824,048‌

93,698,090‌

(

46,395,594‌

)

26,667,469‌

Transactions:

Issued

1,300,000‌

3,900,000‌

500,000‌

1,949,984‌

Issued

reorganization

—‌

387,025‌

Redeemed

(

500,000‌

)

(

1,550,000‌

)

(

1,450,000‌

)

(

1,600,001‌

)

Change

800,000‌

2,350,000‌

(

950,000‌

)

737,008‌

Statements

Changes

Net

Assets

continued

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

High

Dividend

Stock

ETF

Timothy

Plan

International

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

(Unaudited)

From

Investment

Activities:

Operations:

Net

investment

income

(loss)

3,681,370‌

6,091,405‌

3,445,355‌

3,115,132‌

Net

realized

gains

(losses)

11,270,118‌

16,926,028‌

12,791,106‌

8,512,357‌

Net

change

unrealized

appreciation/depreciation

19,523,332‌

1,754,900‌

359,740‌

30,133,118‌

Change

net

assets

resulting

from

operations

34,474,820‌

24,772,333‌

16,596,201‌

41,760,607‌

Distributions

Shareholders:

Distributions

(

3,455,155‌

)

(

6,168,429‌

)

(

3,614,575‌

)

(

4,322,462‌

)

Change

net

assets

resulting

from

distributions

shareholders

(

3,455,155‌

)

(

6,168,429‌

)

(

3,614,575‌

)

(

4,322,462‌

)

Change

net

assets

resulting

from

capital

transactions

1,976,726‌

60,743,170‌

35,570,220‌

46,457,702‌

Change

net

assets

32,996,391‌

79,347,074‌

48,551,846‌

83,895,847‌

Net

Assets:

Beginning

period

317,478,745‌

238,131,671‌

196,020,840‌

112,124,993‌

End

period

350,475,136‌

317,478,745‌

244,572,686‌

196,020,840‌

Capital

Transactions:

Proceeds

from

issued

16,575,613‌

93,345,152‌

74,404,637‌

56,900,868‌

Proceeds

from

issued

reorganization

—‌

23,553,231‌

—‌

Cost

redeemed

(

14,598,887‌

)

(

56,155,213‌

)

(

38,834,417‌

)

(

10,443,166‌

)

Change

net

assets

resulting

from

capital

transactions

1,976,726‌

60,743,170‌

35,570,220‌

46,457,702‌

Transactions:

Issued

400,000‌

2,599,982‌

2,000,000‌

1,750,000‌

Issued

reorganization

—‌

597,368‌

—‌

Redeemed

(

350,000‌

)

(

1,500,000‌

)

(

1,050,000‌

)

(

350,000‌

)

Change

50,000‌

1,697,350‌

950,000‌

1,400,000‌

Statements

Changes

Net

Assets

continued

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Free

Cash

Flow

ETF

Timothy

Plan

Free

Cash

Flow

Growth

ETF

Timothy

Plan

Fixed

Income

ETF

For

the

Period

May

2026

(a)

through

June

30,

2026

For

the

Period

May

2026

(a)

through

June

30,

2026

For

the

Period

May

2026

(a)

through

June

30,

2026

(Unaudited)

From

Investment

Activities:

Operations:

Net

investment

income

(loss)

50,019‌

(

4,487‌

)

128,348‌

Net

realized

gains

(losses)

46,572‌

54,489‌

(

22,939‌

)

Net

change

unrealized

appreciation/depreciation

(

495,117‌

)

2,812,377‌

(

85,116‌

)

Change

net

assets

resulting

from

operations

(

398,526‌

)

2,862,379‌

20,293‌

Distributions

Shareholders:

Distributions

(

36,200‌

)

—‌

(

66,197‌

)

Change

net

assets

resulting

from

distributions

shareholders

(

36,200‌

)

—‌

(

66,197‌

)

Change

net

assets

resulting

from

capital

transactions

39,655,900‌

32,629,533‌

21,263,377‌

Change

net

assets

39,221,174‌

35,491,912‌

21,217,473‌

Net

Assets:

Beginning

period

—‌

End

period

39,221,174‌

35,491,912‌

21,217,473‌

Capital

Transactions:

Proceeds

from

issued

40,278,458‌

34,486,228‌

21,263,377‌

Cost

redeemed

(

622,558‌

)

(

1,856,695‌

)

—‌

Change

net

assets

resulting

from

capital

transactions

39,655,900‌

32,629,533‌

21,263,377‌

Transactions:

Issued

1,600,000‌

1,350,000‌

850,000‌

Redeemed

(

25,000‌

)

(

75,000‌

)

—‌

Change

1,575,000‌

1,275,000‌

850,000‌

(a)

Commencement

operations.

Financial

Highlights

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Small

Cap

Core

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Year

Ended

December

31,

2024

For

the

Year

Ended

December

31,

2023

For

the

Year

Ended

December

31,

2022

For

the

Year

Ended

December

31,

2021

(Unaudited)

Net

Asset

Value,

Beginning

Period

41.38‌

39.03‌

35.34‌

30.39‌

35.49‌

27.71‌

Investment

Activities:

Net

Investment

Income

(Loss)

(a)

0.28‌

0.45‌

0.38‌

0.36‌

0.34‌

0.40‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

6.48‌

2.34‌

3.69‌

4.97‌

(5.11‌)

7.78‌

Total

from

Investment

Activities

6.76‌

2.79‌

4.07‌

5.33‌

(4.77‌)

8.18‌

Distributions

Shareholders:

Net

Investment

Income

(0.22‌)

(0.44‌)

(0.38‌)

(0.33‌)

(0.40‌)

Total

Distributions

(0.22‌)

(0.44‌)

(0.38‌)

(0.33‌)

(0.40‌)

Net

Asset

Value,

End

Period

47.92‌

41.38‌

39.03‌

35.34‌

30.39‌

35.49‌

Total

Return

(b)(c)

16.40‌%

7.22‌%

11.57‌%

17.64‌%

(13.45‌%)

29.62‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(d)

0.52‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(d)

1.28‌%

1.14‌%

1.02‌%

1.13‌%

1.09‌%

1.20‌%

Net

Assets,

End

Period

(000's)

359,432‌

277,221‌

169,766‌

102,476‌

71,422‌

56,792‌

Portfolio

Turnover

(b)(e)

30‌%

47‌%

44‌%

60‌%

59‌%

57‌%

Table

Line

(a)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(b)

Not

annualized

for

periods

less

than

one

year.

(c)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d)

Annualized

for

periods

less

than

one

year.

(e)

Excludes

impact

in-kind

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Large/Mid

Cap

Core

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Year

Ended

December

31,

2024

For

the

Year

Ended

December

31,

2023

For

the

Year

Ended

December

31,

2022

For

the

Year

Ended

December

31,

2021

(Unaudited)

Net

Asset

Value,

Beginning

Period

45.47‌

42.85‌

38.22‌

33.47‌

38.65‌

30.93‌

Investment

Activities:

Net

Investment

Income

(Loss)

(a)

0.22‌

0.40‌

0.37‌

0.36‌

0.35‌

0.24‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

4.92‌

2.62‌

4.64‌

4.73‌

(5.17‌)

7.72‌

Total

from

Investment

Activities

5.14‌

3.02‌

5.01‌

5.09‌

(4.82‌)

7.96‌

Distributions

Shareholders:

Net

Investment

Income

(0.21‌)

(0.40‌)

(0.38‌)

(0.34‌)

(0.36‌)

(0.24‌)

Total

Distributions

(0.21‌)

(0.40‌)

(0.38‌)

(0.34‌)

(0.36‌)

(0.24‌)

Net

Asset

Value,

End

Period

50.40‌

45.47‌

42.85‌

38.22‌

33.47‌

38.65‌

Total

Return

(b)(c)

11.32‌%

7.09‌%

13.12‌%

15.30‌%

(12.48‌%)

25.82‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(d)

0.52‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(d)

0.94‌%

0.89‌%

0.90‌%

1.03‌%

1.02‌%

0.69‌%

Net

Assets,

End

Period

(000's)

304,270‌

317,707‌

267,798‌

236,951‌

179,060‌

168,140‌

Portfolio

Turnover

(b)(e)

20‌%

38‌%

(f)

25‌%

30‌%

26‌%

27‌%

Table

Line

(a)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(b)

Not

annualized

for

periods

less

than

one

year.

(c)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d)

Annualized

for

periods

less

than

one

year.

(e)

Excludes

impact

in-kind

transactions.

(f)

Excludes

the

merger

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

High

Dividend

Stock

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Year

Ended

December

31,

2024

For

the

Year

Ended

December

31,

2023

For

the

Year

Ended

December

31,

2022

For

the

Year

Ended

December

31,

2021

(Unaudited)

Net

Asset

Value,

Beginning

Period

38.49‌

36.36‌

33.16‌

31.13‌

32.49‌

25.88‌

Investment

Activities:

Net

Investment

Income

(Loss)

(a)

0.45‌

0.81‌

0.77‌

0.75‌

0.73‌

0.61‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

3.72‌

2.13‌

3.19‌

2.01‌

(1.35‌)

6.60‌

Total

from

Investment

Activities

4.17‌

2.94‌

3.96‌

2.76‌

(0.62‌)

7.21‌

Distributions

Shareholders:

Net

Investment

Income

(0.42‌)

(0.81‌)

(0.76‌)

(0.73‌)

(0.74‌)

(0.60‌)

Total

Distributions

(0.42‌)

(0.81‌)

(0.76‌)

(0.73‌)

(0.74‌)

(0.60‌)

Net

Asset

Value,

End

Period

42.24‌

38.49‌

36.36‌

33.16‌

31.13‌

32.49‌

Total

Return

(b)(c)

10.84‌%

8.19‌%

11.99‌%

9.03‌%

(1.88‌%)

28.10‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(d)

0.52‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(d)

2.17‌%

2.13‌%

2.15‌%

2.39‌%

2.32‌%

2.07‌%

Net

Assets,

End

Period

(000's)

350,475‌

317,479‌

238,132‌

228,798‌

178,986‌

131,582‌

Portfolio

Turnover

(b)(e)

20‌%

49‌%

(f)

34‌%

41‌%

42‌%

43‌%

Table

Line

(a)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(b)

Not

annualized

for

periods

less

than

one

year.

(c)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d)

Annualized

for

periods

less

than

one

year.

(e)

Excludes

impact

in-kind

transactions.

(f)

Excludes

the

merger

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

International

ETF

For

the

Six

Months

Ended

June

30,

2026

For

the

Year

Ended

December

31,

2025

For

the

Year

Ended

December

31,

2024

For

the

Year

Ended

December

31,

2023

For

the

Year

Ended

December

31,

2022

For

the

Year

Ended

December

31,

2021

(Unaudited)

Net

Asset

Value,

Beginning

Period

34.69‌

26.38‌

26.43‌

23.30‌

29.06‌

26.98‌

Investment

Activities:

Net

Investment

Income

(Loss)

(a)

0.56‌

0.68‌

0.63‌

0.64‌

0.66‌

0.56‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

2.38‌

8.55‌

0.11‌

3.12‌

(5.82‌)

2.21‌

Total

from

Investment

Activities

2.94‌

9.23‌

0.74‌

3.76‌

(5.16‌)

2.77‌

Distributions

Shareholders:

Net

Investment

Income

(0.57‌)

(0.92‌)

(0.79‌)

(0.63‌)

(0.60‌)

(0.69‌)

Total

Distributions

(0.57‌)

(0.92‌)

(0.79‌)

(0.63‌)

(0.60‌)

(0.69‌)

Net

Asset

Value,

End

Period

37.06‌

34.69‌

26.38‌

26.43‌

23.30‌

29.06‌

Total

Return

(b)(c)

8.46‌%

35.44‌%

2.77‌%

16.41‌%

(17.80‌%)

10.34‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(d)

0.62‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(d)

3.07‌%

2.17‌%

2.34‌%

2.60‌%

2.72‌%

1.94‌%

Net

Assets,

End

Period

(000's)

244,573‌

196,021‌

112,125‌

97,801‌

76,875‌

82,827‌

Portfolio

Turnover

(b)(e)

18‌%

32‌%

35‌%

34‌%

39‌%

42‌%

Table

Line

(a)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(b)

Not

annualized

for

periods

less

than

one

year.

(c)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d)

Annualized

for

periods

less

than

one

year.

(e)

Excludes

impact

in-kind

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Free

Cash

Flow

ETF

For

the

period

May

2026

(a)

June

30,

2026

(Unaudited)

Net

Asset

Value,

Beginning

Period

25.00‌

Investment

Activities:

Net

Investment

Income

(Loss)

(b)

0.04‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

(0.12‌)

Total

from

Investment

Activities

(0.08‌)

Distributions

Shareholders:

Net

Investment

Income

(0.02‌)

Total

Distributions

(0.02‌)

Net

Asset

Value,

End

Period

24.90‌

Total

Return

(c)(d)

(0.30‌%)

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(e)

0.59‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(e)

1.03‌%

Net

Assets,

End

Period

(000's)

39,221‌

Portfolio

Turnover

(c)(f)

0‌%

Table

Line

(a)

Commencement

operations.

(b)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(c)

Not

annualized

for

periods

less

than

one

year.

(d)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(e)

Annualized

for

periods

less

than

one

year.

(f)

Excludes

impact

in-kind

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Free

Cash

Flow

Growth

ETF

For

the

period

May

2026

(a)

June

30,

2026

(Unaudited)

Net

Asset

Value,

Beginning

Period

25.00‌

Investment

Activities:

Net

Investment

Income

(Loss)

(b)

—‌

(c)

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

2.84‌

Total

from

Investment

Activities

2.84‌

Net

Asset

Value,

End

Period

27.84‌

Total

Return

(d)(e)

11.35‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(f)

0.59‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(f)

(0.11‌%)

Net

Assets,

End

Period

(000's)

35,492‌

Portfolio

Turnover

(d)(g)

0‌%

Table

Line

(a)

Commencement

operations.

(b)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(c)

Amount

less

than

$0.005

per

share.

(d)

Not

annualized

for

periods

less

than

one

year.

(e)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(f)

Annualized

for

periods

less

than

one

year.

(g)

Excludes

impact

in-kind

transactions.

Financial

Highlights

continued

For

Outstanding

Throughout

Each

Period

Timothy

Plan

See

notes

financial

statements.

Timothy

Plan

Fixed

Income

ETF

For

the

period

May

2026

(a)

June

30,

2026

(Unaudited)

Net

Asset

Value,

Beginning

Period

25.00‌

Investment

Activities:

Net

Investment

Income

(Loss)

(b)

0.16‌

Net

Realized

and

Unrealized

Gains

(Losses)

Investments

(0.12‌)

Total

from

Investment

Activities

0.04‌

Distributions

Shareholders:

Net

Investment

Income

(0.08‌)

Total

Distributions

(0.08‌)

Net

Asset

Value,

End

Period

24.96‌

Total

Return

(c)(d)

0.17‌%

Ratios/Supplemental

Data:

Ratio

Expenses

Average

Net

Assets

(e)

0.55‌%

Ratio

Net

Investment

Income

(Loss)

Average

Net

Assets

(e)

4.11‌%

Net

Assets,

End

Period

(000's)

21,217‌

Portfolio

Turnover

(c)

32‌%

Table

Line

(a)

Commencement

operations.

(b)

Per

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

method.

(c)

Not

annualized

for

periods

less

than

one

year.

(d)

Assumes

reinvestment

all

net

investment

income

and

realized

capital

gain

distributions,

any,

during

the

period.

Includes

adjustments

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(e)

Annualized

for

periods

less

than

one

year.

Notes

Financial

Statements

June

30,

2026

(Unaudited)

Timothy

Plan

ORGANIZATION:

The

Timothy

Plan

(the

“Trust”)

was

organized

pursuant

trust

agreement

dated

December

16,

1993

Delaware

business

trust.

The

Trust

registered

under

the

Investment

Company

Act

1940,

amended

(the

“1940

Act”),

open-end

investment

company

and

thus

determined

investment

company

for

accounting

purposes.

The

Trust

follows

the

investment

company

accounting

and

reporting

guidance

under

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

Topic

946

“Financial

Services—

Investment

Companies.”

The

Trust

comprised

multiple

series

funds,

seven

which

are

exchange-traded

funds

(“ETFs”),

and

are

authorized

issue

unlimited

number

shares,

which

are

units

beneficial

interest

with

par

value.

Each

ETF

classified

diversified

under

the

1940

Act.

The

accompanying

financial

statements

are

those

the

Timothy

Plan

Small

Cap

Core

ETF

(“US

Small

Cap

Core

ETF”),

Timothy

Plan

Large/Mid

Cap

Core

ETF

(“US

Large/Mid

Cap

Core

ETF”),

Timothy

Plan

High

Dividend

Stock

ETF

(“High

Dividend

Stock

ETF”),

Timothy

Plan

International

ETF

(“International

ETF”),

Timothy

Plan

Free

Cash

Flow

ETF*

(“Free

Cash

Flow

ETF”),

Timothy

Plan

Free

Cash

Flow

Growth

ETF*

(“Free

Cash

Flow

Growth

ETF”),

and

Timothy

Plan

Fixed

Income

ETF*

(“Fixed

Income

ETF”)

(individually,

“Fund”

and

collectively,

the

“Funds”).

The

Funds

seek

provide

investment

results

that

track

the

performance

underlying

index,

before

fees

and

expenses.

The

underlying

indices

for

the

Small

Cap

Core

ETF,

Large/Mid

Cap

Core

ETF,

High

Dividend

Stock

ETF,

International

ETF,

Free

Cash

Flow

ETF,

Free

Cash

Flow

Growth

ETF,

and

Fixed

Income

ETF

are

the

Victory

Small

Cap

Volatility

Weighted

BRI

Index,

Victory

Large/Mid

Cap

Volatility

Weighted

BRI

Index,

Victory

Large

Cap

High

Dividend

Volatility

Weighted

BRI

Index,

Victory

International

Volatility

Weighted

BRI

Index,

Victory

Large/Mid

Cap

Volatility

Weighted

BRI

Index,

Victory

Free

Cash

Flow

Growth

BRI

Index,

and

Bloomberg

U.S.

Aggregate

Index

(individually,

“Index”

and

collectively,

the

“Indices”),

respectively.

Commenced

operations

May

2026.

Under

the

Trust’s

organizational

documents,

its

officers

and

Board

Trustees

(the

“Board”)

are

indemnified

against

certain

liabilities

arising

out

the

performance

their

duties

the

Funds.

addition,

the

normal

course

business,

the

Funds

enter

into

contracts

with

their

vendors

and

others

that

provide

for

general

indemnifications.

The

Funds’

maximum

exposure

under

these

arrangements

unknown,

this

would

involve

future

claims

that

may

made

against

the

Funds.

However,

based

experience,

the

Funds

expect

that

risk

loss

remote.

SIGNIFICANT

ACCOUNTING

POLICIES:

The

following

summary

significant

accounting

policies

followed

the

Trust

the

preparation

its

financial

statements.

The

policies

are

conformity

with

accounting

principles

generally

accepted

the

United

States

America

(“GAAP”).

The

preparation

financial

statements

accordance

with

GAAP

requires

management

make

estimates

and

assumptions

that

affect

the

reported

amounts

assets

and

liabilities

and

disclosure

contingent

assets

and

liabilities

the

date

the

financial

statements

and

the

reported

amounts

income

and

expenses

for

the

period.

Actual

results

could

differ

from

those

estimates.

The

Funds

the

specialized

accounting

and

reporting

requirements

under

GAAP

that

are

applicable

investment

companies.

the

Funds

are

listed

and

traded

the

New

York

Stock

Exchange

(“NYSE”

the

“Exchange”).

The

Funds’

are

offered

net

asset

value

(“NAV”)

only

aggregations

50,000

(each

“Creation

Unit”)

for

Small

Cap

Core

ETF,

Large/Mid

Cap

Core

ETF,

High

Dividend

Stock

ETF

and

International

ETF

and

aggregations

for

25,000

(each

"Creation

Unit")

for

Free

Cash

Flow

ETF,

Free

Cash

Flow

Growth

ETF

and

Fixed

Income

ETF.

The

Funds

will

issue

and

redeem

Creation

Units

principally

exchange

for

basket

securities

included

the

respective

Fund’s

Index

(the

“Deposit

Securities”),

together

with

the

deposit

specified

cash

payment

(the

“Cash

Component”),

plus

transaction

fees

(“Transaction

Fees”)

further

described

below.

trade

the

Exchange

market

prices

that

may

below,

at,

above

NAV.

Fund

may

only

purchased

redeemed

certain

financial

institutions

(“Authorized

Participants”).

Authorized

Participant

either

(i)

broker-dealer

other

participant

the

clearing

process

through

the

Continuous

Net

Settlement

System

(“Clearing

Process”)

the

National

Securities

Clearing

Corporation

(“NSCC”)

(ii)

DTC

participant

and,

each

case,

must

have

executed

Participant

Agreement

with

the

Distributor.

Most

retail

investors

not

qualify

Authorized

Participants

nor

have

the

resources

buy

and

sell

whole

Creation

Units.

Therefore,

they

are

unable

purchase

redeem

the

directly

from

Fund.

The

Funds

reserve

the

right

offer

creations

and

redemptions

for

cash.

addition,

may

issued

advance

receipt

Deposit

Securities

subject

various

conditions,

including

requirement

maintain

deposit

with

the

Trust

cash

equal

105%

the

market

value

the

missing

Deposit

Securities.

each

instance

such

cash

creations

redemptions,

transaction

fees

may

imposed

and

may

higher

than

the

transaction

fees

associated

with

in-kind

creations

redemptions.

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Transaction

Fees

include

fixed

fee

(“Fixed

Fee”)

payable

the

Custodian

(“Citibank

N.A.”),

which

imposed

each

creation

and

redemption

transaction

regardless

the

number

Creation

Units

involved

the

transaction.

Transaction

Fees

may

also

include

additional

variable

charge

(“Variable

Charge”)

for

purchases

and

redemptions

Creation

Units

for

cash

involving

cash-in-lieu,

compensate

each

Fund

and

its

ongoing

shareholders

for

brokerage

and

market

impact

expenses

relating

Creation

Unit

transactions.

Under

certain

circumstances,

the

Transaction

Fees

may

waived

adjusted.

such

cases,

the

Authorized

Participant

will

reimburse

each

Fund

for,

among

other

things,

any

difference

between

the

market

value

which

the

securities

and/or

financial

instruments

were

purchased

each

Fund

and

the

cash-in-lieu

amount,

applicable

registration

fees,

brokerage

commissions

and

certain

taxes

and

other

costs

and

expenses

the

execution

trades

resulting

from

such

transaction

(up

the

maximum

amount

shown

below).

addition,

purchasers

Creation

Units

are

responsible

for

the

costs

transferring

the

Deposit

Securities

the

account

each

Fund.

Variable

fees

received

each

Fund

are

displayed

the

Capital

Transaction

section

the

Statements

Changes

Net

Assets

increase

Paid-In-Capital.

Investors

who

use

the

services

broker,

other

such

intermediary

may

charged

fee

for

such

services.

The

Transaction

Fees

for

each

Fund

are

listed

below:

percentage

the

amount

invested.

Investment

Valuation:

The

Funds

record

investments

fair

value.

Fair

value

defined

the

price

that

would

received

sell

asset

paid

transfer

liability

orderly

transaction

between

market

participants

the

measurement

date.

The

valuation

techniques

described

below

maximize

the

use

observable

inputs

and

minimize

the

use

unobservable

inputs

determining

fair

value.

The

inputs

used

for

valuing

the

Funds’

investments

are

summarized

the

three

broad

levels

listed

below:

Level

—

quoted

prices

active

markets

for

identical

securities

Level

—

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities

interest

rates

applicable

those

securities,

etc.)

Level

—

significant

unobservable

inputs

(including

the

Funds’

own

assumptions

determining

the

fair

value

investments)

Changes

valuation

techniques

may

result

transfers

out

assigned

level

within

the

disclosure

hierarchy.

The

inputs

methodologies

used

for

valuation

techniques

are

not

necessarily

indication

the

risk

associated

with

entering

into

those

investments.

Portfolio

securities

listed

traded

securities

exchanges

including,

common

stocks,

warrants

and

American

Depositary

Receipts

(“ADRs”),

are

valued

the

closing

price

the

exchange

system

where

the

security

principally

traded,

available,

the

Nasdaq

Official

Closing

Price.

there

have

been

sales

for

that

day

the

exchange

system,

then

security

valued

the

last

available

bid

quotation

the

exchange

system

where

the

security

principally

traded.

each

these

situations,

valuations

are

typically

categorized

Level

the

fair

value

hierarchy.

Futures

contracts

are

valued

the

settlement

price

established

each

day

the

board

trade

exchange

which

they

are

traded.

These

valuations

are

typically

categorized

Level

the

fair

value

hierarchy.

Investments

open-end

investment

companies

are

valued

net

asset

value.

These

valuations

are

typically

categorized

Level

the

fair

value

hierarchy.

Debt

securities

are

valued

each

business

day

pricing

service

approved

the

valuation

designee

and

subject

the

oversight

the

Board.

The

pricing

service

uses

the

evaluated

bid

market

quotes

value

securities.

Debt

obligations

maturing

within

days

may

valued

Fee

for

In-Kind

and

Cash

Purchases

and

Redemptions

Maximum

Additional

Variable

Charge

for

Cash

Purchases

and

Redemptions*

Small

Cap

Core

ETF

$250

2.00%

Large/Mid

Cap

Core

ETF

$500

2.00%

High

Dividend

Stock

ETF

$250

2.00%

International

ETF

$4,500

2.00%

Free

Cash

Flow

ETF

$500

2.00%

Free

Cash

Flow

Growth

ETF

$250

2.00%

Fixed

Income

ETF

$250

2.00%

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

amortized

cost,

provided

that

the

amortized

cost

represents

the

fair

value

such

securities.

These

valuations

are

typically

categorized

Level

the

fair

value

hierarchy

Investments

for

which

there

are

such

quotations,

for

which

quotations

not

appear

reliable,

are

valued

fair

value

accordance

with

procedures

established

valuation

designee

and

under

the

general

supervision

and

oversight

the

Trust’s

Board.

These

valuations

are

typically

categorized

Level

the

fair

value

hierarchy,

based

the

observability

inputs

used

determine

the

fair

value.

summary

the

valuations

June

30,

2026

based

upon

the

three

levels

defined

above,

included

the

table

below

while

the

breakdown,

category,

investments

disclosed

the

Schedules

Portfolio

Investments:

Small

Cap

Core

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

358,631,355

–

358,631,355

Total

358,631,355

–

358,631,355

Other

Financial

Instruments*

Assets:

Futures

Contracts

8,231

–

8,231

Total

8,231

–

8,231

Large/Mid

Cap

Core

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

303,634,143

–

303,634,143

Rights

–

2,195

Total

303,634,143

–

2,195

303,636,338

Other

Financial

Instruments*

Assets:

Futures

Contracts

2,393

–

2,393

Total

2,393

–

2,393

High

Dividend

Stock

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

348,877,341

–

348,877,341

Total

348,877,341

–

348,877,341

Other

Financial

Instruments*

Assets:

Futures

Contracts

2,833

–

2,833

Total

2,833

–

2,833

International

ETF

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

242,369,214

–

242,369,214

Rights

9,694

–

9,694

Warrants

–

–(a)

–

Total

242,378,908

–

242,378,908

Other

Financial

Instruments*

Assets:

Futures

Contracts

2,093

–

2,093

Total

2,093

–

2,093

Free

Cash

Flow

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

39,164,802

–

39,164,802

Total

39,164,802

–

39,164,802

Free

Cash

Flow

Growth

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Common

Stocks

35,468,954

–

35,468,954

Total

35,468,954

–

35,468,954

Fixed

Income

ETF

Investment

Securities:

Level

Quoted

Prices

Level

Other

Significant

Observable

Inputs

Level

Other

Significant

Unobservable

Inputs

Total

Corporate

Bonds

–

3,810,520

–

3,810,520

Collateralized

Mortgage

Obligations

–

1,779,679

–

1,779,679

Senior

Secured

Loan

–

443,475

–

443,475

U.S.

Government

Agency

Mortgage

–

5,734,972

–

5,734,972

U.S.

Treasury

Obligations

–

5,193,713

–

5,193,713

Asset-Backed

Securities

–

3,293,937

–

3,293,937

Municipal

Bonds

–

3,772

–

3,772

Collateralized

Loan

Obligations

–

44,000

–

44,000

Yankee

Dollar

–

782,215

–

782,215

Total

–

21,086,283

–

21,086,283

Other

Financial

Instruments*

Assets:

Futures

Contracts

7,824

–

7,824

Total

7,824

–

7,824

Futures

Contracts

are

valued

the

unrealized

appreciation

(depreciation)

the

investment.

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

June

30,

2026

there

were

transfers

into/out

Level

Management

has

determined

that

the

amount

Level

securities

compared

total

net

assets

not

material;

therefore,

additional

disclosures

are

necessary

for

the

period

ended

June

30,

2026

Municipal

Obligations:

The

values

municipal

obligations

can

fluctuate

and

may

affected

adverse

tax,

legislative,

political

changes,

and

financial

developments

affecting

municipal

issuers.

Payments

municipal

obligations

may

depend

relatively

limited

source

revenue,

resulting

greater

credit

risk.

Future

changes

federal

tax

laws

the

activity

issuer

may

adversely

affect

the

tax-exempt

status

municipal

obligations.

Mortgage-

and

Asset-Backed

Securities:

The

values

some

mortgage-related

asset-backed

securities

may

particularly

sensitive

changes

prevailing

interest

rates.

Early

repayment

principal

some

mortgage-related

securities

may

expose

the

Funds

lower

rate

return

upon

reinvestment

principal.

The

values

mortgage-

and

asset-backed

securities

depend

part

the

credit

quality

and

adequacy

the

underlying

assets

collateral

and

may

fluctuate

response

the

market’s

perception

these

factors

well

current

and

future

repayment

rates.

Some

mortgage-

backed

securities

are

backed

the

full

faith

and

credit

the

U.S.

government

(e.g.,

mortgage-backed

securities

issued

the

Government

National

Mortgage

Association,

commonly

known

“Ginnie

Mae”),

while

other

mortgage-backed

securities

(e.g.,

mortgage-backed

securities

issued

the

Federal

National

Mortgage

Association

and

the

Federal

Home

Loan

Mortgage

Corporation,

commonly

known

“Fannie

Mae”

and

“Freddie

Mac,”

respectively),

are

backed

only

the

credit

the

government

entity

issuing

them.

addition,

some

mortgage-backed

securities

are

issued

private

entities

and,

such,

are

not

guaranteed

the

U.S.

government

any

agency

instrumentality

the

U.S.

government.

Collateralized

Loan

Obligations

(“CLOs”):

CLOs

are

securities

issued

entities

that

are

collateralized

pool

loans.

CLOs

are

issued

multiple

classes

(tranches)

and

can

equity

debt

with

specific

adjustable

fixed

interest

rates

and

varying

maturities.

The

cash

flow

from

the

underlying

loans

used

pay

off

each

tranche

separately

within

the

debt,

senior

tranches.

Equity,

subordinated

tranches,

typically

are

not

paid

cash

flow

but

offer

ownership

the

CLO

itself

the

event

sale.

Real

Estate

Investment

Trusts

(“REITs”):

The

Funds

may

invest

REITs

which

report

information

the

source

their

distributions

annually.

REITs

are

pooled

investment

vehicles

that

invest

primarily

income-producing

real

estate

real

estate

loans

interests

(such

mortgages).

Certain

distributions

received

from

REITs

during

the

year

are

recorded

realized

gains

return

capital

estimated

the

Funds

when

such

information

becomes

known.

Investment

Companies:

The

Funds

may

invest

portfolios

open-end

investment

companies.

These

investment

companies

value

securities

their

portfolios

for

which

market

quotations

are

readily

available

their

market

values

(generally

the

last

reported

sale

price)

and

all

other

securities

and

assets

their

fair

value

the

methods

established

the

board

directors

the

underlying

funds.

Investment

Transactions

and

Income:

Changes

holdings

investments

are

accounted

for

later

than

one

business

day

following

the

trade

date.

For

financial

reporting

purposes,

however,

investment

transactions

are

accounted

for

trade

date

the

last

business

day

the

reporting

period.

Interest

income

recognized

accrual

basis

and

includes,

where

applicable,

the

amortization

premiums

accretion

discounts.

Dividend

income

recorded

the

ex-dividend

date.

Non-cash

dividends

included

income,

any,

are

recorded

the

fair

value

the

securities

received.

Gains

losses

realized

sales

securities

are

determined

comparing

the

identified

cost

the

security

lot

sold

with

the

net

sales

proceeds.

Withholding

taxes

interest,

dividends

and

gains

result

certain

investments

ADRs

the

Funds

have

been

provided

for

accordance

with

each

investment’s

applicable

country’s

tax

rules

and

rates.

Futures

Contracts:

During

the

period

ended

June

30,

2026

the

Funds

used

futures

contracts

provide

market

exposure

the

Funds’

cash

balances.

Futures

contracts

are

valued

based

upon

their

quoted

daily

settlement

prices.

Upon

entering

into

futures

contract,

and

maintain

the

Fund’s

open

positions

futures

contracts,

the

Fund

would

required

deposit

with

its

custodian

futures

broker

segregated

account

the

name

the

futures

broker

amount

cash,

U.S.

government

securities,

suitable

money

market

instruments,

other

liquid

securities,

known

“initial

margin.”

The

margin

required

for

particular

futures

contract

set

the

exchange

which

the

contract

traded,

and

may

(a)

Zero

market

value.

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

significantly

modified

from

time

the

exchange

during

the

term

the

contract.

Futures

contracts

are

customarily

purchased

and

sold

margins

that

may

range

upward

from

less

than

the

value

the

contract

being

traded.

Deposits

for

futures

for

the

Funds

are

reported

Deposit

with

broker

for

futures

contracts

the

Statements

Assets

and

Liabilities.

the

price

open

futures

contract

changes

(by

increase

underlying

instrument

index

the

case

sale

decrease

the

case

purchase)

that

the

loss

the

futures

contract

reaches

point

which

the

margin

deposit

does

not

satisfy

margin

requirements,

the

broker

will

require

increase

the

margin.

However,

the

value

position

increases

because

favorable

price

changes

the

futures

contract

that

the

margin

deposit

exceeds

the

required

margin,

the

broker

will

pay

the

excess

Fund.

These

subsequent

payments,

called

“Variation

Margin,”

and

from

the

futures

broker,

are

made

daily

basis

the

price

the

underlying

assets

fluctuate

making

the

long

and

short

positions

the

futures

contract

less

valuable,

process

known

“marking

the

market.”

The

Funds

recorded

payable

receivable

variation

margin.

The

Funds

expect

earn

interest

income

its

margin

deposits.

Gains

losses

are

recognized

but

not

considered

realized

until

the

contracts

expire

are

closed.

Futures

contracts

involve,

varying

degrees,

elements

market

risk

(generally

equity

price

risk

stock

futures,

interest

rate

risk

bond

futures,

and

foreign

currency

risk

currency

futures)

and

exposure

loss

excess

the

variation

margin

disclosed

the

Statements

Assets

and

Liabilities.

The

primary

risks

associated

with

the

use

futures

contracts

are

the

imperfect

correlation

between

the

change

fair

value

the

underlying

securities

and

the

prices

futures

contracts,

the

possibility

illiquid

market,

and

the

inability

the

counterparty

meet

the

terms

the

contract.

Realized

and

unrealized

gains

and

losses

are

reported

“Net

realized

gains/(losses)

from

futures

transactions”

and

“Net

change

unrealized

appreciation/depreciation

futures

contracts”,

respectively,

the

Statements

Operations.

Summary

Derivative

Instruments

The

following

summary

the

fair

values

derivative

instruments

Statements

Assets

and

Liabilities,

categorized

risk

exposure,

June

30,

2026

Includes

cumulative

unrealized

appreciation

(depreciation)

futures

contracts

reported

the

Schedules

Portfolio

Investments.

Only

current

day’s

variation

margin

for

futures

contracts

reported

within

the

Statements

Assets

and

Liabilities.

The

following

summary

the

effect

derivative

instruments

the

Statements

Operations,

categorized

risk

exposure,

for

the

period

ended

June

30,

2026

Average

Notional

Value

The

table

below

summarizes

the

monthly

average

notional

value

futures

contracts

for

the

period

ended

June

30,

2026

Assets

Fund

Variation

Margin

Receivable

Open

Futures

Contracts*

Equity

Risk

Exposure:

–

Small

Cap

Core

ETF

8,231

Large/Mid

Cap

Core

ETF

2,393

High

Dividend

Stock

ETF

2,833

International

ETF

2,093

Interest

Rate

Risk

Exposure:

–

Fixed

Income

ETF

7,824

Fund

Net

realized

gains

(losses)

from

futures

transactions

Net

Change

unrealized

appreciation

(depreciation)

futures

transactions

Equity

Risk

Exposure:

–

Small

Cap

Core

ETF

129,102

35,589

Large/Mid

Cap

Core

ETF

80,730

(567)

High

Dividend

Stock

ETF

63,284

5,336

International

ETF

34,919

2,121

Interest

Rate

Risk

Exposure:

–

Fixed

Income

ETF

–

7,824

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Foreign

Currency

Translations:

The

accounting

records

the

Funds

are

maintained

U.S.

dollars.

Investment

securities

and

other

assets

and

liabilities

Fund

denominated

foreign

currency

are

translated

into

U.S.

dollars

current

exchange

rates.

Purchases

and

sales

securities,

income

receipts

and

expense

payments

are

translated

into

U.S.

dollars

the

exchange

rates

the

date

the

transactions.

The

Funds

not

isolate

the

portion

the

results

operations

resulting

from

changes

foreign

exchange

rates

investments

from

fluctuations

arising

from

changes

market

prices

securities

held.

Such

fluctuations

are

disclosed

net

change

unrealized

appreciation/depreciation

investments

and

foreign

currency

translations

the

Statements

Operations.

Any

realized

gains

losses

from

these

fluctuations

are

disclosed

net

realized

gains

losses

from

investment

transactions

and

foreign

currency

transactions

the

Statements

Operations.

Foreign

Taxes:

The

Funds

may

subject

foreign

taxes

foreign

income

received

portion

which

may

reclaimable),

capital

gains

the

sale

securities,

and

certain

foreign

currency

transactions.

All

foreign

taxes

are

recorded

accordance

with

the

applicable

regulations

and

rates

that

exist

the

foreign

jurisdictions

which

the

Funds

invest.

Dividends

Shareholders:

Dividends

from

net

investment

income,

any,

are

declared

and

paid

monthly

the

Funds.

Distributable

net

realized

gains,

any,

are

declared

and

distributed

least

annually

each

Fund.

The

amounts

dividends

from

net

investment

income

and

distributions

from

net

realized

gains

are

determined

accordance

with

federal

income

tax

regulations,

which

may

differ

from

GAAP.

the

extent

these

“book/tax”

differences

are

permanent

nature

(i.e.,

that

they

result

from

other

than

timing

recognition

“temporary

difference”),

such

amounts

are

reclassified

within

the

components

net

assets

based

their

federal

tax-basis

treatment;

temporary

differences

(e.g.,

wash

sales)

not

require

reclassification.

the

extent

dividends

and

distributions

exceed

net

investment

income

and

net

realized

gains

for

tax

purposes,

they

are

reported

distributions

capital.

Net

investment

losses

incurred

Fund

may

reclassified

offset

capital

the

accompanying

Statements

Assets

and

Liabilities.

Federal

Income

Taxes:

the

policy

each

Fund

continue

qualify

regulated

investment

company

complying

with

the

provisions

available

certain

investment

companies,

defined

applicable

sections

the

Internal

Revenue

Code,

and

make

distributions

net

investment

income

and

net

realized

gains

sufficient

relieve

from

all,

substantially

all,

federal

income

taxes.

Accordingly,

provision

for

federal

income

taxes

required

the

financial

statements.

The

Funds

identifies

its

major

tax

jurisdiction

U.S.

Federal.

and

during

the

period

ended

June

30,

2026

the

Funds

did

not

have

liability

for

any

unrecognized

tax

benefits.

The

Funds

recognize

interest

and

penalties,

any,

unrecognized

tax

benefits

income

tax

expense

the

Statements

Operations.

During

the

period,

the

Funds

did

not

incur

any

interest

penalties.

For

the

current

open

tax

year,

management

the

Funds

has

concluded

that

there

are

significant

uncertain

tax

positions

that

would

require

recognition

the

financial

statements.

Further,

management

the

Funds

not

aware

any

tax

positions

for

which

reasonably

possible

that

the

total

amounts

any

unrecognized

tax

benefits

will

significantly

change

over

the

fiscal

year.

PURCHASES

AND

SALES

SECURITIES:

Purchases

and

sales

securities

(excluding

securities

maturing

less

than

one

year

from

acquisition)

and

in-kind

transactions

associated

with

purchases

and

sales for

the

period

ended

June

30,

2026,

were

follows:

Average

Notional

Value

Fund

Long

Small

Cap

Core

ETF

688,927

Large/Mid

Cap

Core

ETF

532,263

High

Dividend

Stock

ETF

954,875

International

ETF

1,175,228

Fixed

Income

ETF

185,099

Excluding

in-kind

transactions

Associated

with

in-kind

transactions

Fund

Purchases

Sales

Purchases

Sales

Small

Cap

Core

ETF

94,001,909

92,836,063

55,685,160

21,342,781

Large/Mid

Cap

Core

ETF

66,473,313

65,821,456

23,869,964

70,131,053

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

For

the

period

ended

June

30,

2026

there

were

purchases

sales

U.S.

Government

Securities.

FEES

AND

TRANSACTIONS

WITH

AFFILIATES

AND

OTHER

PARTIES:

Timothy

Partners,

Ltd

(“TPL”

the

“Advisor”),

Florida

limited

partnership,

serves

the

Funds’

investment

advisor

pursuant

Investment

Advisory

Agreement.

Subject

always

the

supervision

and

approval

the

Board,

the

Advisor

responsible

for

the

overall

management

the

Funds.

The

Advisor

has

arranged

for

distribution,

custody,

fund

administration,

transfer

agency

and

all

other

services

necessary

for

the

Funds

operate.

The

Advisor

receives

fee

for

its

services,

(the

“Management

Fee”).

From

the

Management

Fee,

the

Advisor

obligated

pay

arrange

for

the

payment

substantially

all

expenses

the

Funds,

including

the

cost

transfer

agency,

custody,

fund

administration

and

accounting,

legal,

audit,

independent

trustees

and

other

services,

except

for

interest

expenses,

distribution

fees

expenses,

brokerage

expenses,

acquired

fund

fees

and

expenses,

taxes

and

extraordinary

expenses

such

litigation

and

other

expenses

not

incurred

the

ordinary

course

the

Fund’s

business.

The

Advisor’s

Management

Fee

designed

cause

substantially

all

the

Funds’

expenses

paid

and

compensate

the

Advisor

for

providing

services

for

the

Funds.

Small

Cap

Core

ETF,

Large/Mid

Cap

Core

ETF,

High

Dividend

Stock

ETF

pay

Management

Fee

equivalent

0.52%

and

International

ETF

pays

Management

Fee

equivalent

0.62%,

Free

Cash

Flow

ETF

and

Free

Cash

Flow

Growth

ETF

pays

Management

Fee

equivalent

0.59%

and

Fixed

Income

ETF

pays

Management

Fee

equivalent

0.55%,

the

Fund’s

average

daily

net

assets,

computed

daily

and

paid

monthly.

Victory

Capital

Management,

Inc.,

New

York

corporation,

serves

the

Funds’

sub-advisor

pursuant

written

sub-advisory

agreement

with

the

Advisor

and

receives

fees

from

the

Advisor

for

these

services.

Citibank,

N.A.

serves

the

Funds’

Custodian

and

Transfer

Agent

pursuant

Global

Custodial

and

Agency

Services

Agreement

with

the

Trust.

Citi

Fund

Services

Ohio,

Inc.

(“Citi”),

affiliate

Citibank,

N.A.,

acts

the

Funds’

administrator

and

fund

accountant

pursuant

Services

Agreement

with

the

Trust.

Foreside

Fund

Services,

LLC

(“Foreside”)

serves

the

Funds’

distributor.

Pine

Advisor

Solutions

provides

compliance

services

the

Trust.

Certain

officers

and/or

interested

trustees

the

Funds

are

also

officers

and/or

employees

the

Advisor.

INVESTMENT

RISKS:

The

following

describes

the

principal

risks

that

you

may

assume

investor

each

Fund.

The

risk

descriptions

below

provide

detailed

explanation

the

principal

investment

risks.

Excluding

in-kind

transactions

Associated

with

in-kind

transactions

Fund

Purchases

Sales

Purchases

Sales

High

Dividend

Stock

ETF

67,756,746

67,712,163

16,512,023

14,541,329

International

ETF

68,705,422

39,913,295

43,223,272

37,961,957

Free

Cash

Flow

ETF

131,481

—

40,103,590

—

Free

Cash

Flow

Growth

ETF

150,834

—

34,305,215

1,853,961

Fixed

Income

ETF

11,729,810

1,556,127

—

Small

Cap

Core

Large/Mid

Cap

Core

High

Dividend

Stock

ETF

International

ETF

Free

Cash

Flow

ETF

Free

Cash

Flow

Growth

ETF

Fixed

Income

ETF

Excluded

Security

Risk

Equity

Securities

Risk

Index

Risk

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

Excluded

Security

Risk

Because

the

Index

omits

Excluded

Securities,

the

Funds

may

riskier

than

other

funds

that

invest

broader

array

securities.

Biblically

Responsible

Investing

(“BRI”)

may

not

successful.

Because

the

Index

reconstituted

only

prescribed

times

during

the

year,

the

Funds

may

temporarily

hold

securities

that

not

comply

with

the

BRI

filtering

criteria

the

application

the

criteria

the

nature

company’s

business

changes

between

these

dates.

Equity

Securities

Risk

The

value

the

equity

securities

which

the

Fund

invests

may

decline

response

developments

affecting

individual

companies

and/or

general

economic

conditions

the

United

States

abroad.

company’s

earnings

dividends

may

not

increase

expected

(or

may

decline)

because

poor

management,

competitive

pressures,

reliance

particular

suppliers

geographical

regions,

labor

problems

shortages,

corporate

restructurings,

fraudulent

disclosures,

man-made

natural

disasters,

military

confrontations

wars,

terrorism,

public

health

crises,

other

events,

conditions

and

factors.

Price

changes

may

temporary

last

for

extended

periods.

Index

Risk

There

guarantee

that

the

Funds’

investment

results

will

have

high

degree

correlation

those

the

respective

Underlying

Index

that

the

Funds

will

achieve

their

investment

objectives.

Market

disruptions

and

regulatory

restrictions

could

have

adverse

effect

the

Funds’

ability

adjust

their

exposure

the

required

levels

order

track

the

Underlying

Index.

Errors

index

data,

index

computations

the

construction

the

Underlying

Index

accordance

with

its

methodology

may

occur

from

time

and

may

not

identified

and

corrected

the

Index

Provider

for

period

time

all,

which

may

have

adverse

impact

the

Funds

and

their

shareholders.

Unusual

market

conditions

may

cause

the

Index

Provider

postpone

scheduled

rebalance,

which

could

cause

the

Underlying

Index

vary

from

its

normal

expected

composition.

Large-Capitalization

Stock

Risk

The

securities

large-sized

companies

may

underperform

the

securities

smaller-sized

companies

the

market

whole.

The

growth

rate

larger,

established

companies

may

lag

those

smaller

companies,

especially

during

periods

economic

expansion.

Limited

History

Operations

The

Fund

fairly

new

and,

therefore,

has

limited

history

operations

for

investors

evaluate

Foreign

Investing

Risk

Foreign

investing

risk

the

possibility

that

the

value

Fund’s

investments

foreign

companies,

securities

companies

with

significant

business

operations

outside

the

U.S.,

will

decrease

because

currency

exchange-rate

fluctuations;

foreign

market

illiquidity;

emerging-

market

risk;

increased

price

volatility;

uncertain

political

conditions;

exchange

control

regulations;

foreign

ownership

limits;

different

accounting,

reporting,

and

disclosure

requirements;

less

publicly

available

information

about

foreign

issuers;

difficulties

obtaining

legal

judgments;

and

foreign

withholding

taxes,

among

other

challenges

non-U.S.

investments.

Foreign

investing

may

result

Fund

experiencing

rapid

and

extreme

changes

value

than

fund

that

invests

exclusively

securities

U.S.

companies

primarily

with

domestic

operations.

Foreign

investments

may

difficult

value

than

U.S.

securities.

Risks

that

require

additional

consideration

are:

•

Currency

Risk

—

Investments

foreign

currencies

and

securities

that

trade

in,

receive

revenues

in,

derivatives

that

provide

exposure

to,

foreign

currencies

are

subject

the

risk

that

those

currencies

will

decline

value

relative

the

U.S.

dollar.

Any

such

decline

may

erode

reverse

any

potential

gains

from

investment

securities

denominated

foreign

currency

may

widen

existing

losses.

Currency

rates

may

fluctuate

significantly

over

short

periods

time

for

number

reasons,

including

changes

interest

rates;

intervention

(or

the

failure

intervene)

governments,

central

banks

supranational

entities;

the

imposition

currency

controls;

other

political

Large-Capitalization

Stock

Risk

Limited

History

Operations

Foreign

Investing

Risk

Foreign

Securities

Risk

Mid-Capitalization

Stock

Risk

Small

Company

Risk

Debt

Securities

Bond

Risk

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

developments

the

United

States

abroad.

•

Depositary

Receipts

Risk

—

Foreign

securities

may

trade

the

form

depositary

receipts,

which

include

ADRs

and

GDRs

(collectively

Depositary

Receipts).

the

extent

Fund

acquires

Depositary

Receipts

through

banks

that

not

have

contractual

relationship

with

the

foreign

issuer

the

security

underlying

the

Depositary

Receipts

issue

and

service

such

unsponsored

Depositary

Receipts,

Fund

may

not

become

aware

and

able

respond

corporate

actions

such

stock

splits

rights

offerings

involving

the

foreign

issuer

timely

manner.

addition,

the

lack

information

may

result

inefficiencies

the

valuation

such

instruments.

Investment

Depositary

Receipts

does

not

eliminate

all

the

risks

inherent

investing

securities

non-U.S.

issuers.

The

market

value

Depositary

Receipts

dependent

upon

the

market

value

the

underlying

securities

and

fluctuations

the

relative

value

the

currencies

which

the

Depositary

Receipts

and

the

underlying

securities

are

quoted.

•

Political

Risk

—

Political

risk

includes

greater

potential

for

coups

d’état,

revolts,

and

expropriation

governmental

organizations.

•

European

Economic

Risk

—

January

31,

2020,

the

United

Kingdom

(“UK”)

left

the

European

Union

(“EU”),

commonly

referred

“Brexit.”

The

impact

Brexit

far

uncertain.

The

effect

the

UK’s

economy

will

likely

depend

the

ongoing

nature

trade

relations

with

the

EU.

Brexit

may

cause

increased

volatility

and

may

have

significant

adverse

impact

for

some

time

business

activity,

world

financial

markets,

international

trade

agreements,

the

and

European

economies

and

the

broader

global

economy.

Foreign

Securities

Risk

Foreign

securities

(including

depositary

receipts)

are

subject

political,

regulatory,

and

economic

risks

not

present

domestic

investments.

Foreign

securities

could

affected

factors

not

present

the

U.S.

including

expropriation,

confiscation

property,

and

difficulties

enforcing

contracts.

Compared

U.S.

companies,

there

generally

less

publicly

available

information

about

foreign

companies

and

there

may

less

governmental

regulation

and

supervision

foreign

companies.

Foreign

securities

generally

experience

volatility

than

their

domestic

counterparts.

Depositary

receipts

may

have

additional

risks,

including

creditworthiness

the

depositary

bank

and

the

risk

illiquid

market.

addition,

the

extent

investments

are

made

limited

number

countries,

events

those

countries

will

have

significant

impact

the

Funds.

Fluctuations

the

exchange

rates

between

the

U.S.

dollar

and

foreign

currencies,

currency

exchange

control

regulations,

and

restrictions

prohibitions

the

repatriation

foreign

currencies

may

negatively

affect

investment

Mid-Capitalization

Stock

Risk

Mid-sized

companies

may

subject

number

risks

not

associated

with

larger,

established

companies,

potentially

making

their

stock

prices

volatile

and

increasing

the

risk

loss.

Small

Company

Risk

Small

company

stocks

present

above-average

risks.

This

means

that

when

stock

prices

decline

overall,

the

Portfolios

may

decline

than

broad-based

securities

market

index.

These

companies

usually

offer

smaller

range

products

and

services

than

larger

companies.

They

may

also

have

limited

financial

resources

and

may

lack

management

depth.

result,

stocks

issued

smaller

companies

tend

less

liquid

and

fluctuate

value

than

the

stocks

larger,

established

companies.

Debt

Securities

Bond

Risk

The

Fund

subject

the

risk

that

the

market

value

the

bonds

the

Fund’s

portfolio

will

fluctuate

because

changes

interest

rates,

changes

the

supply

and

demand

for

debt

securities,

and

other

market

factors.

Bond

prices

generally

are

linked

the

prevailing

market

interest

rates.

general,

when

interest

rates

rise,

bond

prices

typically

fall;

conversely,

when

interest

rates

fall,

bond

prices

typically

rise.

The

price

volatility

bond

also

depends

its

duration,

which

measure

bond’s

sensitivity

change

interest

rates

Generally,

the

longer

the

duration

bond,

the

greater

its

sensitivity

interest

rates.

compensate

investors

for

this

higher

interest

rate

risk,

bonds

with

longer

durations

generally

offer

higher

yields

than

bonds

with

shorter

durations.

Should

the

U.S.Federal

Reserve

raise

interest

rates,

the

Fund

may

subject

risks

associated

with

rising

interest

rates.

The

fixed-income

securities

the

Fund’s

portfolio

also

are

subject

credit

risk,

which

the

possibility

that

issuer

fixed-income

security

cannot

make

timely

interest

and

principal

payments

its

securities

that

negative

market

perceptions

the

issuer’s

ability

make

such

payments

will

cause

the

price

that

security

decline.

The

Fund

accepts

some

credit

risk

recognized

means

enhance

investor’s

return.

FEDERAL

INCOME

TAX

INFORMATION:

The

tax

characteristics

distributions

paid

shareholders

during

the

year/period

ended

December

31,

2025

were

follows:

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

December

202

the

Funds

had

net

capital

loss

carry

forwards

(“CLCFs”)

for

federal

income

tax

purposes

which

are

available

reduce

the

future

capital

gain

distributions

shareholders.

CLCFs

not

subject

expiration:

December

202

the

cost

basis

for

federal

income

tax

purposes,

gross

unrealized

appreciation,

gross

unrealized

depreciation

and

net

unrealized

appreciation

(depreciation)

for

investments

were

follows:

this

reporting

period,

the

Funds

adopted

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Update

2023-09,

"Income

Taxes

(Topic

740)

Improvements

Income

Tax

Disclosures"

("ASU

2023-09").

Adoption

the

new

standard

the

Funds

impacted

financial

statement

disclosures

only

and

did

not

affect

the

Funds'

financial

position

results

operations.

disaggregation

income

taxes

paid

jurisdiction

presented

when

significant

income

taxes

are

paid.

Income

taxes

paid

the

Funds

for

the

year

ended

December

31,

2025,

were

determined

not

significant.

SEGMENT

REPORTING:

The

Adviser’s

Management

Committee acts

each

Fund’s

Chief

Operating

Decision

Maker

(“CODM”).

Each

Fund

represents

single

operating

segment,

the

CODM

monitors

the

operating

results

each

Fund

whole

and

the

Fund’s

long-term

strategic

asset

allocation

predetermined

accordance

with

the

Fund’s

single

investment

objective.

The

financial

information

the

form

the

Funds’

portfolio

composition,

total

returns,

expense

ratios,

and

changes

net

assets,

which

are

used

the

CODM

assess

the

segment’s

performance

versus

each

Fund’s

comparative

benchmarks

and

make

resource

allocation

decisions

for

the

Fund’s

single

segment,

consistent

with

that

presented

within

each

Fund’s

financial

statements.

Segment

assets

are

reflected

the

accompanying

Statements

Assets

and

Liabilities

“total

assets”

and

significant

segment

expenses

are

listed

the

accompanying

Statements

Operations.

Year

Ended

December

31,

2025

Distributions

Paid

From:

Fund

Ordinary

Income

Total

Taxable

Distributions

Total

Distributions

Paid

Small

Cap

Core

ETF

2,465,950

Large/Mid

Cap

Core

ETF

2,714,595

High

Dividend

Stock

ETF

6,168,429

International

ETF

4,322,462

Total

distributions

paid

may

differ

from

the

Statements

Changes

Net

Assets

because

distributions

are

recognized

when

actually

paid

for

tax

purposes.

Fund

Short-Term

Amount

Long-Term

Amount

Total

Small

Cap

Core

ETF

(19,316,930)

(9,943,863)

(29,260,793)

Large/Mid

Cap

Core

ETF*

(11,735,681)

(16,452,664)

(28,188,345)

High

Dividend

Stock

ETF*

(7,975,457)

(12,831,058)

(20,806,515)

International

ETF

(591,243)

(3,945,222)

(4,536,465)

All

portion

are

limited

result

changes

ownership

connection

with

merger

reorganization.

Unused

limitations

during

year

accumulate

for

future

use

offsetting

net

capital

gains.

IRC

Section

382

limitations

short-term

$9,771,987

and

long-term

$2,791,824

and

short-term

$11,379,751

and

long-term

$577,195

are

included

the

above

amounts

for

Large/Mid

Cap

Core

ETF

and

High

Dividend

Stock

ETF,

respectively.

Fund

Cost

Investments

for

Federal

Tax

Purposes

Gross

Unrealized

Appreciation

Gross

Unrealized

Depreciation

Net

Unrealized

Appreciation

(Depreciation)

Small

Cap

Core

ETF

254,392,782

32,771,312

(11,250,464)

21,520,848

Large/Mid

Cap

Core

ETF

277,032,509

51,532,126

(12,045,084)

39,487,042

High

Dividend

Stock

ETF

302,254,071

26,918,525

(13,035,363)

13,883,162

International

ETF

158,643,134

41,625,890

(5,034,804)

36,591,086

Notes

Financial

Statements

continued

June

30,

2026

(Unaudited)

Timothy

Plan

SUBSEQUENT

EVENTS:

Management

has

evaluated

subsequent

events

through

the

date

these

financial

statements

were

issued.

Distributions

Subsequent

June

30,

2026,

the

Funds

paid

distribution

from

ordinary

income

for

the

following

amounts:

Fund

7/9/2026

8/7/2026

Small

Cap

Core

ETF

413,160

110,347

Large/Mid

Cap

Core

ETF

157,234

60,670

High

Dividend

Stock

ETF

408,962

281,35

International

ETF

476,982

Free

Cash

Flow

ETF

16,964

16,334

Fixed

Income

ETF

82,103

77,77

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

June

30,

2026

Timothy

Plan

Renewal

Investment

Advisory

Agreement

between

the

Trust

and

Timothy

Partners,

Ltd.

(“TPL”)

in-person

meeting

held

February

26-27,

2026,

the

Trustees

considered

the

Investment

Advisory

Agreement

between

the

Trust

and

Timothy

Partners,

Ltd.

(the

“Advisor”

“TPL”)

for

the

U.S.

Large

Cap

Core

ETF,

High

Dividend

Yield

ETF,

U.S.

Small

Cap

Core

ETF,

and

International

ETF

(each,

“Fund”

and

together,

the

“Funds”).

Fund

counsel

reviewed

the

standards

review

required

Trustees,

and

Independent

Trustees

particular,

with

respect

the

renewal

advisory

and

sub-advisory

agreements.

The

Trustees

reviewed

the

2026

Annual

Investment

Advisory

Agreement

Renewal

Questionnaire

responses

provided

TPL

and

the

materials

provided

the

Advisor

support

the

continuance

the

Investment

Advisory

Agreement,

including,

among

other

things,

the

Advisor’s

financial

statements,

Form

ADV,

Compliance

Policies

and

Procedures

Manual,

information

regarding

the

Advisor’s

key

personnel

and

brokerage

policies,

and

comparative

expense

and

performance

information.

The

Trustees

considered

the

following

factors,

among

others,

connection

with

determining

whether

approve

the

continuance

the

Investment

Advisory

Agreement.

The

Trustees

received

and

considered

information

regarding

the

nature,

extent

and

quality

services

provided

the

Funds

the

Advisor.

The

Trustees

specifically

reviewed

the

qualifications,

backgrounds,

and

responsibilities

the

key

personnel

who

oversee

the

investment

management

and

day-to-day

operations

the

Funds.

The

Trustees

considered

that

the

Advisor

has

staff

skilled

investment

professionals

who

provide

research

and

monitoring

services

the

Funds

and

determined

that

the

Advisor

possesses

adequate

resources

manage

the

Funds.

The

Trustees

also

considered

the

Advisor’s

compliance

program

and

noted

the

resources

has

dedicated

towards

compliance,

including

providing

qualified

compliance

officer

oversee

its

compliance

program.

The

Trustees

also

considered

the

Advisor’s

experience

and

consistency

incorporating

and

implementing

the

unique,

biblically-based

management

style

that

stated

objective

all

the

Funds,

set

forth

the

Funds’

prospectus.

The

Trustees

noted

that

the

Advisor

had

managed

the

Funds

since

their

inceptions,

had

implemented

and

provided

continuous

monitoring

the

Biblically

Responsible

Investing

(“BRI”)

screens

utilized

the

Trust,

oversaw

and

monitored

the

ongoing

activities

the

Funds’

sub-advisor,

and

provided

general

management

services

the

Trust.

The

Trustees

considered

the

investment

performance

each

Fund

and

the

Advisor’s

performance

monitoring

the

investment

manager

the

Funds.

The

Trustees

noted

that

comprehensive

performance

information

had

been

provided

for

each

Fund

each

Trustees’

Meeting,

and

the

Trustees

incorporated

that

information

into

their

considerations.

The

Board

noted

that

each

the

Funds

has

strategy

track

specific

benchmark

and

they

considered

how

the

performance

each

Fund

compared

such

Fund’s

respective

benchmark

and

peer

group

while

acknowledging

that

the

BRI

screening

process

employed

the

Advisor

disqualified

number

issuers

that

constituted

major

components

the

Funds’

benchmark

indices

and

did

not

apply

the

other

funds

the

peer

groups.

After

review

the

Funds’

performance

over

time,

the

Trustees

concluded

that

each

Fund’s

performance

was

satisfactory

and

that

the

Advisor

was

performing

its

responsibilities

professional

manner.

The

Trustees

reviewed

the

contractual

investment

advisory

fee

rates

payable

the

Funds,

noting

that

each

Fund

has

unitary

management

fee.

part

their

review,

the

Trustees

considered

each

Fund’s

unitary

management

fee

and

total

expense

ratio

compared

similar

funds.

The

Trustees

considered

the

fees

charged

the

Advisor

light

the

services

provided

the

Funds

the

Advisor,

the

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

continued

June

30,

2026

Timothy

Plan

unique

nature

the

Funds

and

their

BRI

screening

requirements,

and

the

Advisor’s

role

manager

managers.

After

full

and

careful

consideration

the

materials

presented

the

Trustees,

the

Trustees

made

the

following

conclusions:

The

fees

charged

the

Advisor

for

each

Fund

were

within

the

range

fees

charged

competitors

with

similar

screens.

The

Trustees

concluded

that

the

fees

were

not

high

fall

outside

the

range

fees

negotiated

arm’s

length.

After

review

the

facts

and

circumstances

applicable

this

Trust,

the

Trustees

agreed

that

the

fees

charged

the

Advisor

were

fair

and

reasonable

light

the

services

provided

the

Funds.

The

Trustees

also

discussed

the

Advisor’s

current

fee

structure

and

whether

such

structure

would

allow

the

Funds

realize

economies

scale

they

grow.

The

Trustees

noted

that

the

current

fee

structure

did

not

include

breakpoints

that

would

reduce

the

Advisor’s

fee

rate

the

Funds

grow

assets,

but

the

Trustees

noted

that

the

Funds

currently

were

not

large

enough

realize

meaningful

economies

scale.

The

Trustees

then

reviewed

the

internal

operations

the

Advisor

and

examined

whether

the

Advisor

received

any

ancillary

benefits

from

its

relationship

with

the

Trust.

The

Trustees

noted

that

the

Advisor’s

business

was

devoted

exclusively

serving

the

Funds,

and

that

the

Advisor

did

not

realize

any

material

ancillary

benefits

profits

deriving

from

its

relationship

with

the

Funds

other

than

advisory

fees.

After

full

consideration

the

above

factors

well

other

factors,

the

Board,

with

the

Independent

Trustees

voting

separately,

unanimously

concluded

that

approval

the

continuance

the

Investment

Advisory

Agreement

was

the

best

interest

the

Funds

and

their

shareholders.

arriving

this

conclusion,

the

Trustees

noted

that

single

factor

was

responsible

for

the

Trustees’

decision

approve

the

continuation

the

Investment

Advisory

Agreement,

and

each

Trustee

weighed

the

factors

independently

coming

his

her

own

conclusions.

Further,

the

Independent

Trustees

were

advised

counsel

during

their

consideration

the

Advisory

Agreement

renewal

and

the

Sub-Advisor

Agreement

renewals.

Renewal

Sub-Advisory

Agreement

with

Victory

Capital

Management,

Inc.

The

Trustees

considered

the

Sub-Advisory

Agreement

between

the

Trust,

TPL

and

Victory

Capital

Management,

Inc.

(the

“Sub-Advisor”

“Victory”),

behalf

each

Fund.

The

Trustees

reviewed

the

2026

Annual

Investment

Sub-Advisory

Agreement

Renewal

Questionnaire

for

Victory

and

reviewed

the

materials

provided

Victory

support

the

continuance

the

Investment

Sub-Advisory

Agreement

(the

“Sub-Advisory

Agreement”),

including,

among

other

things,

Victory’s

financial

statements,

Form

ADV,

the

Compliance

Policies

and

Procedures

Manual,

information

regarding

Victory’s

key

personnel

and

brokerage

policies,

and

comparative

expense

and

performance

information.

The

Trustees

considered

the

following

factors,

among

others,

connection

with

determining

whether

approve

the

continuance

the

Sub-Advisory

Agreement.

The

Trustees

first

noted

that

TPL

recommended

that

the

Sub-Advisory

Agreement

should

renewed

for

additional

year.

The

Trustees

received

and

considered

information

regarding

the

nature,

extent

and

quality

services

provided

each

Fund

Victory.

The

Trustees

reviewed

the

qualifications,

backgrounds,

and

responsibilities

the

key

personnel

who

oversee

the

investment

management

and

day-to-day

operations

the

Funds.

The

Trustees

considered

that

Victory

has

staff

skilled

investment

professionals

who

provide

research

and

trading

services

the

Fund

and

determined

that

Victory

possesses

adequate

resources

manage

the

Funds.

The

Trustees

also

considered

Victory’s

compliance

program

and

noted

the

resources

has

dedicated

towards

compliance,

including

providing

qualified

compliance

officer

oversee

its

compliance

program.

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

continued

June

30,

2026

Timothy

Plan

The

Trustees

considered

the

investment

performance

the

Funds

and

Victory’s

performance

managing

the

Funds.

The

Trustees

noted

that

comprehensive

performance

information

had

been

provided

for

the

Funds

each

Trustees

Meeting,

and

the

Trustees

incorporated

that

information

into

their

considerations.

each

Fund

index-based

ETF,

the

Board

additionally

reviewed

information

regarding

each

Fund’s

performance

compared

its

respective

underlying

index

for

various

time

periods.

The

Board

noted

management’s

explanation

that

analysis

investment

performance,

absolute

terms,

less

relevant

for

index-based

Funds

than

for

actively

managed

funds,

given

the

Funds’

index-based

investment

objectives.

The

Board

also

noted

management’s

further

explanation

that

relevant

review

the

performance

the

Funds

focusing

the

extent

which

each

Fund

tracked

its

underlying

index.

The

Board

reviewed

information

regarding

each

Fund’s

index

tracking,

discussing,

applicable,

factors

which

contributed

each

Fund’s

tracking

error.

After

reviewing

each

Fund’s

performance

over

time,

the

Trustees

concluded

that

the

Funds’

performance

was

satisfactory

and

that

Victory

was

performing

its

responsibilities

professional

manner.

The

Trustees

noted

that

the

fees

payable

Victory

were

paid

the

Advisor

out

the

unitary

management

fees

received

and

represented

arms’-length

negotiation

between

the

Advisor

and

Victory.

Accordingly,

the

Trustees

did

not

consider

the

profitability

the

Sub-Advisor’s

relationship

with

the

Funds,

but

rather

limited

their

inquiry

whether

those

fees

represented

fair

percentage

the

overall

fees

paid

the

Advisor

each

Fund

light

the

services

provided

Victory.

After

full

and

careful

consideration,

the

Trustees

agreed

that

the

fees

charged

Victory

and

paid

out

the

fees

received

the

Advisor

were

fair

and

reasonable

light

the

services

provided

Victory.

The

Independent

Trustees

considered

the

economies

scale

and

decided

that

this

particular

factor

was

not

relevant

with

respect

the

Sub-Advisory

Agreement

because

Victory

was

paid

out

the

fees

paid

Advisor.

The

Independent

Trustees

also

considered

any

“fallout”

benefits

Victory

with

respect

the

Fund.

After

full

consideration

the

above

factors

well

other

factors,

the

Board,

with

the

Independent

Trustees

voting

separately,

unanimously

concluded

that

approval

the

continuance

the

Sub-Advisory

Agreement

was

the

best

interest

each

Fund

and

its

shareholders.

arriving

this

conclusion,

the

Trustees

noted

that

single

factor

was

responsible

for

the

Trustees’

decision

approve

the

continuation

the

Sub-Advisory

Agreement,

and

each

Trustee

weighed

the

factors

independently

coming

his

her

own

conclusions.

Consideration

Matters

Launch

New

ETFs:

Timothy

Plan

Free

Cash

Flow

ETF,

Timothy

Plan

Free

Cash

Flow

Growth

ETF,

and

Timothy

Plan

Fixed

Income

ETF

the

same

Board

meeting

held

February

26-27,

2026,

the

Trustees

also

considered

new

Investment

Advisory

Agreement

between

the

Trust

and

TPL

and

new

Sub-Advisory

Agreement

with

Victory

with

respect

three

new

ETFs:

Timothy

Plan

Free

Cash

Flow

ETF,

Timothy

Plan

Free

Cash

Flow

Growth

ETF,

and

Timothy

Plan

Fixed

Income

ETF

(the

“New

Funds”).

Fund

counsel

reviewed

the

standards

review

required

Trustees,

and

Independent

Trustees

particular,

with

respect

the

approval

advisory

and

sub-advisory

agreements.

The

Trustees

received

and

considered

information

regarding

the

nature,

extent

and

quality

services

provided

the

New

Funds

the

Advisor.

The

Trustees

specifically

reviewed

the

qualifications,

backgrounds,

and

responsibilities

the

key

personnel

who

oversee

the

investment

management

and

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

continued

June

30,

2026

Timothy

Plan

day-to-day

operations

the

New

Funds.

The

Trustees

considered

that

the

Advisor

has

staff

skilled

investment

professionals

who

provide

research

and

trading

services

the

New

Funds

and

determined

that

the

Advisor

possesses

adequate

resources

manage

the

New

Funds.

The

Trustees

also

considered

the

Advisor’s

compliance

program

and

noted

the

resources

has

dedicated

towards

compliance,

including

providing

qualified

compliance

officer

oversee

its

compliance

program.

The

Trustees

also

considered

the

Advisor’s

experience

and

consistency

incorporating

and

implementing

the

unique,

biblically

based

management

style

that

stated

objective

all

the

New

Funds,

set

forth

the

New

Funds’

prospectuses.

The

Trustees

considered

that

the

Advisor

has

not

previously

served

the

investment

advisor

the

New

Funds

and,

such,

does

not

have

record

prior

performance

managing

the

New

Funds

submit

the

Meeting.

The

Trustees

took

into

account

information

that

they

received

about

the

Advisor’s

management

other

ETFs.

The

Trustees

concluded

that

based

the

New

Funds’

investment

strategy

and

the

Advisor’s

presentation,

the

Advisor

had

the

expertise

fulfill

the

New

Funds’

investment

mandate.

The

Trustees

considered

information

regarding

the

New

Funds’

projected

expense

ratios

and

their

various

components,

including

the

proposed

management

fees

for

the

New

Funds.

They

compared

each

New

Fund’s

proposed

fees,

projected

expenses

and

overall

expense

ratio

expense

information

for

each

New

Fund’s

peer

group,

presented

the

Advisor.

The

Trustees

found

that

the

proposed

management

fee

rate

appeared

reasonable

for

the

management

each

New

Fund’s

portfolio

under

the

strategy

described

for

the

initial

term

the

Investment

Advisory

Agreement.

The

Trustees

considered

the

Advisor’s

anticipated

profitability.

The

Trustees

considered

that,

the

Advisor

has

not

previously

served

the

investment

advisor

the

New

Funds,

record

profitability

with

respect

each

New

Fund

exists.

The

Trustees

also

took

into

account

the

Advisor’s

estimated

costs

managing

the

New

Funds

and

information

provided

the

Advisor

regarding

its

financial

condition.

The

Trustees

considered

whether

the

Advisor

would

realize

economies

scale

with

respect

its

management

the

New

Funds,

but

noted

that,

the

New

Funds

currently

had

assets,

there

were

economies

scale.

The

Trustees

also

reviewed

materials

provided

the

Sub-Advisor

regarding

the

nature,

extent

and

quality

the

services

provided

the

New

Funds

the

Sub-Advisor,

including

overview

the

Sub-Advisor

and

the

personnel

who

would

perform

services

for

the

New

Funds.

The

Trustees

reviewed

the

most

recent

Form

ADV

for

the

Sub-Advisor

and

considered

the

qualifications,

background

and

responsibilities

the

members

the

Sub-Advisor’s

portfolio

management

team.

The

Trustees

also

took

into

account

information

previously

presented

the

Sub-Advisor

regarding

the

proposed

operation

the

New

Funds

the

November

21,

2025

regular

Board

meeting

and

the

special

Board

meeting

held

December

2025.

The

Trustees

considered

that

the

Sub-Advisor

has

not

previously

served

the

investment

advisor

the

New

Funds

and,

such,

does

not

have

record

prior

performance

managing

the

New

Funds

submit

the

Meeting.

The

Trustees

took

into

account

information

that

they

had

received

about

Victory’s

management

other

ETFs.

The

Trustees

concluded

that

based

the

New

Funds’

investment

strategy

and

the

Sub-Advisor’s

presentations,

the

Sub-Advisor

had

the

expertise

fulfill

the

New

Funds’

investment

mandate.

The

Trustees

considered

information

regarding

the

New

Funds’

projected

expense

ratios,

including

the

proposed

sub-advisory

fee

for

each

New

Fund.

The

Trustees

noted

that

the

sub-advisory

fee

would

paid

the

Advisor

out

the

unitary

fee

received

and

represented

arms’-length

negotiation

Approval

Investment

Advisory

and

Sub-Advisory

Agreement

(Form

N-CSR

Item

11)

continued

June

30,

2026

Timothy

Plan

between

the

Advisor

and

Victory.

Accordingly,

the

Trustees

did

not

consider

Victory’s

projected

profitability

possible

economies

scale.

The

Trustees

found

that

the

proposed

sub-advisory

fee

rate

appeared

fair

and

reasonable

for

the

management

each

New

Fund’s

portfolio

under

the

strategy

described

for

the

initial

term

the

Sub-Advisory

Agreement.

The

Trustees,

having

requested

and

received

such

information

from

the

Advisor

and

Sub-Advisor

they

believed

reasonably

necessary

evaluate

the

terms

the

proposed

Advisory

Agreement

and

Sub-

Advisory

Agreement,

determined

that

approval

the

Advisory

Agreement

and

Sub-Advisory

Agreement

for

initial

two-year

terms

was

the

best

interests

the

New

Funds

and

their

shareholders.

Visit

our

website

etf.timothyplan.com

Call

Timothy

Plan

800.846.7526

Timothy

Plan

1055

Maitland

Center

Commons

Maitland,

Florida

32751

PAST

PERFORMANCE

DOES

NOT

GUARANTEE

FUTURE

RESULTS,

AND

YOU

MAY

LOSE

MONEY.

You

should

consider

the

Fund’s

investment

objectives,

risks,

charges,

and

expenses.

This

and

other

important

information

can

found

the

Fund’s

prospectus.

obtain

copy,

visit

timothyplan.com

call

800.846.7526.

Read

the

prospectus

carefully

before

investing

sending

money.

ETFs

distributed

Foreside

Fund

Services,

LLC,

member

FINRA

and

SIPC.

Timothy

Partners,

Ltd.

not

affiliated

with

Foreside

Fund

Services,

LLC.

(b) The Financial Highlights are included as a part of the Financial Statements filed under Item 7(a) of this Form.

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies.

Proxy disclosures, if any, are included as part of the Financial Statements filed under Item 7(a) of this Form.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Not applicable.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Approval of Investment Advisory Contract is a part of the Financial Statements filed under Item 7(a) of this Form.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 15. Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 16. Controls and Procedures.

(a) The Registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that those disclosure controls and procedures provide reasonable assurance that material information required to be disclosed by the Registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19. Exhibits.

(a)(1) Not applicable – only for annual reports.

(a)(2) Not applicable.

(a)(3) The certifications required by Rule 30a-2(a) of the Investment Company Act of 1940 are attached hereto.

(b) The certifications required by Rule 30a-2(b) of the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Timothy Plan

By (Signature and Title) /s/ Greg Ally

Greg Ally, Treasurer and Principal Financial Officer

Date September 4, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title) /s/ Brian Mumbert

Brian Mumbert, President and Principal Executive Officer

Date September 4, 2026

By (Signature and Title) /s/ Greg Ally

Greg Ally, Treasurer and Principal Financial Officer

Date September 4, 2026

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: primary-document_htm.xml