# EDGAR Filing Document

**Accession Number:** 0000916490
**File Stem:** 0000910472-26-002896
**Filing Date:** 2026-2
**Character Count:** 80203
**Document Hash:** b4ebafec08abfcf17191b6791dcf5064
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002896.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002896

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TIMOTHY PLAN
- **CENTRAL INDEX KEY:** 0000916490

**ORGANIZATION NAME:**
- **EIN:** 597016828
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08228
- **FILM NUMBER:** 26685328

**BUSINESS ADDRESS:**
- **STREET 1:** 1055 MAITLAND CENTER COMMONS
- **CITY:** MAITLAND
- **STATE:** FL
- **ZIP:** 32751
- **BUSINESS PHONE:** 4076441986

**MAIL ADDRESS:**
- **STREET 1:** 1055 MAITLAND CENTER COMMONS
- **CITY:** MAITLAND
- **STATE:** FL
- **ZIP:** 32751

## Series and Classes Contracts Data

### Timothy Plan High Yield Bond Fund (Series ID: S000017791)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000049122 | Timothy Plan High Yield Bond Fund Class A | TPHAX           |
| C000065171 | Timothy Plan High Yield Bond Fund Class C | TPHCX           |
| C000127001 | Timothy Plan High Yield Bond Fund Class I | TPHIX           |

## Nport-Ex

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8%** |  |  |  |  |
|  | **AEROSPACE & DEFENSE — 2.0%** |  |  |  |  |
| 1165000 | Goat Holdco, LLC<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;02/01/32 | $1195029 |
| 2000000 | TransDigm, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/29 | 2065038 |
| 1250000 | TransDigm, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;12/15/30 | 1308768 |
| 325000 | TransDigm, Inc.<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;01/31/34 | 337383 |
|  |  |  |  |  | 4906218 |
|  | **AUTOMOTIVE — 5.9%** |  |  |  |  |
| 3500000 | Adient Global Holdings Ltd.<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;04/15/31 | 3682309 |
| 2705000 | Adient Global Holdings Ltd.<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;02/15/33 | 2793745 |
| 5620000 | Aptiv plc / Aptiv Global Financing DAC<sup>(b)</sup> | H15T5Y + 3.385% | 6.8750 | &nbsp;&nbsp;12/15/54 | 5837911 |
| 2500000 | Goodyear Tire & Rubber Company (The) |  | 5.6250 | &nbsp;&nbsp;04/30/33 | 2380870 |
|  |  |  |  |  | 14694835 |
|  | **CHEMICALS — 9.3%** |  |  |  |  |
| 1750000 | Avient Corporation<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;08/01/30 | 1807923 |
| 1145000 | Avient Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;11/01/31 | 1177658 |
| 1000000 | Axalta Coating Systems, LLC<sup>(a)</sup> |  | 3.3750 | &nbsp;&nbsp;02/15/29 | 966175 |
| 2500000 | Chemours Company (The)<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;11/15/29 | 2262882 |
| 2815000 | Chemours Company (The)<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;01/15/33 | 2728465 |
| 2360000 | INEOS Finance plc<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;04/15/29 | 2051997 |
| 5065000 | Mativ Holdings, Inc.<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;10/01/29 | 5122107 |
| 1375000 | Tronox, Inc.<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;03/15/29 | 963760 |
| 905000 | Tronox, Inc.<sup>(a)</sup> |  | 9.1250 | &nbsp;&nbsp;09/30/30 | 904325 |
| 2500000 | WR Grace Holdings, LLC<sup>(a)</sup> |  | 5.6250 | &nbsp;&nbsp;08/15/29 | 2389342 |
| 1000000 | WR Grace Holdings, LLC<sup>(a)</sup> |  | 7.3750 | &nbsp;&nbsp;03/01/31 | 1027810 |
| 1345000 | WR Grace Holdings, LLC<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;08/15/32 | 1363144 |
|  |  |  |  |  | 22765588 |
|  | **COMMERCIAL SUPPORT SERVICES — 8.0%** |  |  |  |  |
| 2310000 | Allied Universal Holdco, LLC<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;02/15/31 | 2435834 |
| 2325000 | Allied Universal Holdco, LLC / Allied Universal Finance Corporation<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;06/15/30 | 2423096 |
| 125000 | Allied Universal Holdco, LLC/ Allied Universal Finance Corporation<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;06/01/28 | 123004 |
| 1625000 | Clean Harbors, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;02/01/31 | 1675152 |
| 5600000 | Enviri Corporation<sup>(a)</sup> |  | 5.7500 | &nbsp;&nbsp;07/31/27 | 5607359 |
| 1500000 | GFL Environmental, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;01/15/31 | 1575621 |
| 1250000 | VT Topco, Inc.<sup>(a)</sup> |  | 8.5000 | &nbsp;&nbsp;08/15/30 | 1311018 |
| 3225000 | Waste Pro USA, Inc.<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;02/01/33 | 3328958 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **COMMERCIAL SUPPORT SERVICES — 8.0% (Continued)** |  |  |  |  |
| 1000000 | Williams Scotsman, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;06/15/29 | $1036601 |
|  |  |  |  |  | 19516643 |
|  | **CONSTRUCTION MATERIALS — 0.8%** |  |  |  |  |
| 660000 | Quikrete Holdings, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/32 | 687426 |
| 975000 | Standard Building Solutions, Inc.<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;08/01/33 | 996549 |
| 335000 | Standard Industries, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;08/15/32 | 345113 |
|  |  |  |  |  | 2029088 |
|  | **CONSUMER SERVICES — 3.9%** |  |  |  |  |
| 4842000 | PROG Holdings, Inc.<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;11/15/29 | 4798325 |
| 4750000 | Upbound Group, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;02/15/29 | 4702149 |
|  |  |  |  |  | 9500474 |
|  | **CONTAINERS & PACKAGING — 3.3%** |  |  |  |  |
| 1000000 | Canpack S.A. / Canpack US, LLC<sup>(a)</sup> |  | 3.8750 | &nbsp;&nbsp;11/15/29 | 957689 |
| 500000 | Graham Packaging Company, Inc.<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;08/15/28 | 501400 |
| 1250000 | Graphic Packaging International, LLC<sup>(a)</sup> |  | 3.7500 | &nbsp;&nbsp;02/01/30 | 1186678 |
| 1000000 | LABL, Inc.<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;11/01/29 | 380000 |
| 2800000 | Mauser Packaging Solutions Holding Company<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;04/15/30 | 2794217 |
| 1750000 | TriMas Corporation<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;04/15/29 | 1703413 |
| 270000 | Trivium Packaging Finance BV<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;07/15/30 | 289637 |
| 300000 | Trivium Packaging Finance BV<sup>(a)</sup> |  | 12.2500 | &nbsp;&nbsp;01/15/31 | 325769 |
|  |  |  |  |  | 8138803 |
|  | **ELECTRIC UTILITIES — 2.1%** |  |  |  |  |
| 2910000 | Alpha Generation, LLC<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;10/15/32 | 3009118 |
| 2000000 | Vistra Corporation<sup>(a)(b)</sup> | H15T5Y + 5.740% | 7.0000 | &nbsp;&nbsp;06/15/70 | 2042407 |
| 250000 | Vistra Operations Company, LLC<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;05/01/29 | 246965 |
|  |  |  |  |  | 5298490 |
|  | **ELECTRICAL EQUIPMENT — 2.2%** |  |  |  |  |
| 1000000 | BWX Technologies, Inc.<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;06/30/28 | 988812 |
| 1000000 | BWX Technologies, Inc.<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;04/15/29 | 975339 |
| 700000 | Gates Corporation (The)<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;07/01/29 | 727811 |
| 1360000 | WESCO Distribution, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/15/29 | 1406130 |
| 1360000 | WESCO Distribution, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;03/15/32 | 1421823 |
|  |  |  |  |  | 5519915 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **FOOD — 1.5%** |  |  |  |  |
| 3755000 | B&G Foods, Inc.<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;09/15/28 | $3699125 |
|  | **HEALTH CARE FACILITIES & SERVICES — 4.5%** |  |  |  |  |
| 1835000 | Concentra Escrow Issuer Corporation<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;07/15/32 | 1921252 |
| 3820000 | HAH Group Holding Company, LLC<sup>(a)</sup> |  | 9.7500 | &nbsp;&nbsp;10/01/31 | 3595113 |
| 3215000 | National Mentor Holdings, Inc.<sup>(a)</sup> |  | 10.5000 | &nbsp;&nbsp;12/15/30 | 3235024 |
| 1750000 | Pediatrix Medical Group, Inc.<sup>(a)</sup> |  | 5.3750 | &nbsp;&nbsp;02/15/30 | 1751595 |
| 526000 | Tenet Healthcare Corporation |  | 6.1250 | &nbsp;&nbsp;10/01/28 | 528699 |
|  |  |  |  |  | 11031683 |
|  | **HOME CONSTRUCTION — 4.4%** |  |  |  |  |
| 1045000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;08/01/33 | 1046709 |
| 2250000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;08/01/29 | 2151857 |
| 1000000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;04/01/30 | 959461 |
| 685000 | Dream Finders Homes, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;09/15/30 | 689329 |
| 680000 | STL Holding Company, LLC<sup>(a)</sup> |  | 8.7500 | &nbsp;&nbsp;02/15/29 | 717427 |
| 2023000 | Weekley Homes, LLC / Weekley Finance Corporation<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;09/15/28 | 1996641 |
| 3230000 | Weekley Homes, LLC / Weekley Finance Corporation<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;01/15/34 | 3274963 |
|  |  |  |  |  | 10836387 |
|  | **HOUSEHOLD PRODUCTS — 1.7%** |  |  |  |  |
| 4230000 | Energizer Holdings, Inc.<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;09/15/33 | 4061795 |
|  | **INSTITUTIONAL FINANCIAL SERVICES — 0.7%** |  |  |  |  |
| 1576000 | Aretec Group, Inc.<sup>(a)</sup> |  | 10.0000 | &nbsp;&nbsp;08/15/30 | 1700597 |
|  | **INSURANCE — 2.2%** |  |  |  |  |
| 1000000 | Acrisure, LLC / Acrisure Finance, Inc.<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;11/06/30 | 1045085 |
| 1000000 | Acrisure, LLC / Acrisure Finance, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;07/01/32 | 1036969 |
| 65000 | Asurion, LLC and Asurion Co-Issuer, Inc.<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;12/31/32 | 67471 |
| 1075000 | Baldwin Insurance Group Holdings, LLC / Baldwin Insurance Group Holdings Finance<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;05/15/31 | 1114589 |
| 1000000 | HUB International Ltd.<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;06/15/30 | 1050480 |
| 1000000 | Ryan Specialty, LLC<sup>(a)</sup> |  | 5.8750 | &nbsp;&nbsp;08/01/32 | 1022408 |
|  |  |  |  |  | 5337002 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **MACHINERY — 0.6%** |  |  |  |  |
| 1000000 | Esab Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;04/15/29 | $1029454 |
| 500000 | SPX FLOW, Inc.<sup>(a)</sup> |  | 8.7500 | &nbsp;&nbsp;04/01/30 | 518105 |
|  |  |  |  |  | 1547559 |
|  | **MEDICAL EQUIPMENT & DEVICES — 1.7%** |  |  |  |  |
| 750000 | Bausch & Lomb Escrow Corporation<sup>(a)</sup> |  | 8.3750 | &nbsp;&nbsp;10/01/28 | 783750 |
| 325000 | Insulet Corporation<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;04/01/33 | 340018 |
| 3000000 | Sotera Health Holdings, LLC<sup>(a)</sup> |  | 7.3750 | &nbsp;&nbsp;06/01/31 | 3168621 |
|  |  |  |  |  | 4292389 |
|  | **METALS & MINING — 0.8%** |  |  |  |  |
| 2000000 | Kaiser Aluminum Corporation<sup>(a)</sup> |  | 4.5000 | &nbsp;&nbsp;06/01/31 | 1940338 |
|  | **OIL & GAS PRODUCERS — 6.7%** |  |  |  |  |
| 2022000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC<sup>(a)</sup> |  | 5.5000 | &nbsp;&nbsp;06/15/31 | 2001737 |
| 2000000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;12/15/33 | 2151684 |
| 500000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 7.7500 | &nbsp;&nbsp;02/01/28 | 502371 |
| 600000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 8.2500 | &nbsp;&nbsp;01/15/29 | 628264 |
| 750000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 8.8750 | &nbsp;&nbsp;04/15/30 | 791675 |
| 3500000 | Global Partners, L.P. / GLP Finance Corporation<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;01/15/32 | 3700581 |
| 3075000 | ITT Holdings, LLC<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;08/01/29 | 2953596 |
| 2000000 | NuStar Logistics, L.P. |  | 5.6250 | &nbsp;&nbsp;04/28/27 | 2030462 |
| 1750000 | Permian Resources Operating, LLC<sup>(a)</sup> |  | 5.8750 | &nbsp;&nbsp;07/01/29 | 1766015 |
| 100000 | Permian Resources Operating, LLC<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;01/15/32 | 104555 |
|  |  |  |  |  | 16630940 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 2.0%** |  |  |  |  |
| 1500000 | MPT Operating Partnership, L.P. / MPT Finance Corporation |  | 4.6250 | &nbsp;&nbsp;08/01/29 | 1257919 |
| 1420000 | MPT Operating Partnership, L.P. / MPT Finance Corporation<sup>(a)</sup> |  | 8.5000 | &nbsp;&nbsp;02/15/32 | 1517523 |
| 750000 | Service Properties Trust |  | 5.5000 | &nbsp;&nbsp;12/15/27 | 741114 |
| 1375000 | Service Properties Trust<sup>(a)</sup> |  | 8.6250 | &nbsp;&nbsp;11/15/31 | 1447137 |
|  |  |  |  |  | 4963693 |
|  | **REAL ESTATE OWNERS & DEVELOPERS — 1.8%** |  |  |  |  |
| 1500000 | Greystar Real Estate Partners, LLC<sup>(a)</sup> |  | 7.7500 | &nbsp;&nbsp;09/01/30 | 1582451 |
| 2999000 | Howard Hughes Corporation (The)<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;02/01/31 | 2857132 |
|  |  |  |  |  | 4439583 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **REAL ESTATE SERVICES — 0.4%** |  |  |  |  |
| 1000000 | Newmark Group, Inc. |  | 7.5000 | &nbsp;&nbsp;01/12/29 | $1073704 |
|  | **RETAIL - CONSUMER STAPLES — 0.5%** |  |  |  |  |
| 1250000 | Ingles Markets, Inc.<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;06/15/31 | 1187217 |
|  | **RETAIL - DISCRETIONARY — 3.7%** |  |  |  |  |
| 1250000 | Builders FirstSource, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/34 | 1294429 |
| 1065000 | Cougar JV Subsidiary, LLC<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;05/15/32 | 1142541 |
| 2000000 | Ken Garff Automotive, LLC<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;09/15/28 | 1994860 |
| 1000000 | Lithia Motors, Inc.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;01/15/31 | 961886 |
| 1600000 | Queen MergerCo, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;04/30/32 | 1672350 |
| 2050000 | Sonic Automotive, Inc.<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;11/15/31 | 1988747 |
|  |  |  |  |  | 9054813 |
|  | **SOFTWARE — 0.4%** |  |  |  |  |
| 1000000 | UKG, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;02/01/31 | 1029259 |
|  | **SPECIALTY FINANCE — 15.6%** |  |  |  |  |
| 1000000 | AerCap Ireland Capital DAC / Aercap Global Aviation Trust<sup>(b)</sup> | H15T5Y + 2.720% | 6.9500 | &nbsp;&nbsp;03/10/55 | 1049786 |
| 3000000 | Air Lease Corporation<sup>(b)</sup> | H15T5Y + 4.076% | 4.6500 | &nbsp;&nbsp;06/15/70 | 2980498 |
| 650000 | Arbor Realty SR, Inc.<sup>(a)</sup> |  | 8.5000 | &nbsp;&nbsp;12/15/28 | 647780 |
| 2355000 | Arbor Realty SR, Inc.<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;07/15/30 | 2243117 |
| 500000 | Burford Capital Global Finance, LLC<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;04/15/28 | 497305 |
| 1785000 | Burford Capital Global Finance, LLC<sup>(a)</sup> |  | 9.2500 | &nbsp;&nbsp;07/01/31 | 1840310 |
| 500000 | Freedom Mortgage Corporation<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;01/15/27 | 503653 |
| 2090000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;05/01/31 | 2092944 |
| 2500000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 9.1250 | &nbsp;&nbsp;05/15/31 | 2688410 |
| 330000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 8.3750 | &nbsp;&nbsp;04/01/32 | 347856 |
| 1015000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;04/01/33 | 1053992 |
| 2955000 | ILFC E-Capital Trust I<sup>(a)(b)</sup> | TSFR3M + 1.812% | 6.3500 | &nbsp;&nbsp;12/21/65 | 2483709 |
| 3000000 | ILFC E-Capital Trust II<sup>(a)(b)</sup> | TSFR3M + 2.062% | 6.6000 | &nbsp;&nbsp;12/21/65 | 2576009 |
| 3670000 | Jefferies Finance, LLC / JFIN Co-Issuer Corporation<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;10/15/31 | 3614515 |
| 1000000 | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corporation<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;07/15/31 | 1060927 |
| 1000000 | OneMain Finance Corporation |  | 6.1250 | &nbsp;&nbsp;05/15/30 | 1021827 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **SPECIALTY FINANCE — 15.6% (Continued)** |  |  |  |  |
| 2000000 | PennyMac Financial Services, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;05/15/32 | $2095564 |
| 2150000 | Rithm Capital Corp<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;07/15/30 | 2200704 |
| 4050000 | Rithm Capital Corporation<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;04/01/29 | 4161076 |
| 820000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;04/15/30 | 844265 |
| 1000000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;07/01/30 | 1046810 |
| 655000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;10/15/30 | 683364 |
| 655000 | Walker & Dunlop, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;04/01/33 | 674943 |
|  |  |  |  |  | 38409364 |
|  | **STEEL — 2.4%** |  |  |  |  |
| 1500000 | Commercial Metals Company |  | 4.3750 | &nbsp;&nbsp;03/15/32 | 1448803 |
| 640000 | Commercial Metals Company<sup>(a)</sup> |  | 5.7500 | &nbsp;&nbsp;11/15/33 | 654792 |
| 4004000 | TMS International Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;04/15/29 | 3885329 |
|  |  |  |  |  | 5988924 |
|  | **TECHNOLOGY HARDWARE — 1.1%** |  |  |  |  |
| 550000 | Ciena Corporation<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;01/31/30 | 530923 |
| 1000000 | TTM Technologies, Inc.<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;03/01/29 | 980476 |
| 1000000 | Zebra Technologies Corporation<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;06/01/32 | 1036732 |
|  |  |  |  |  | 2548131 |
|  | **TECHNOLOGY SERVICES — 0.8%** |  |  |  |  |
| 995000 | CACI International, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;06/15/33 | 1030749 |
| 1000000 | Insight Enterprises, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;05/15/32 | 1028139 |
|  |  |  |  |  | 2058888 |
|  | **TRANSPORTATION & LOGISTICS — 0.3%** |  |  |  |  |
| 660000 | Stonepeak Nile Parent, LLC<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;03/15/32 | 699245 |
|  | **WHOLESALE - CONSUMER STAPLES — 0.5%** |  |  |  |  |
| 1280000 | KeHE Distributors, LLC / KeHE Finance Corporation / NextWave Distribution, Inc.<sup>(a)</sup> |  | 9.0000 | &nbsp;&nbsp;02/15/29 | 1345215 |
|  | **TOTAL CORPORATE BONDS (Cost $220,521,069)** |  |  |  | 226245905 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 6.7%** |  |
|  | **MONEY MARKET FUND - 6.7%** |  |
| 16615867 | Fidelity Investments Money Market Government Portfolio, Class I, 3.64%<sup>(c)</sup> (Cost $16,615,867) | $16615867 |
|  | **TOTAL INVESTMENTS - 98.5% (Cost $237,136,936)** | $242861772 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.5%** | 3799753 |
|  | **NET ASSETS - 100.0%** | $246661525 |

---

---

| | |
|:---|:---|
| BV | - Besloten Vennootschap |
| DAC | - Designated Activity Company |
| LLC | - Limited Liability Company |
| LLLP | - Limited Liability Limited Partnership |
| L.P. | - Limited Partnership |
| Ltd. | - Limited Company |
| plc | - Public Limited Company |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| TSFR3M | Term Secured Overnight Financing Rate 3 Month |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2025, the total market value of Rule 144A securities is $203,972,002 or 82.7% of net assets.

<sup>(b)</sup> Variable rate security; the rate shown represents the rate on December 31, 2025.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of December 31, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** TIMOTHY PLAN

- **b. Investment Company Act file number:** 811-08228

- **c. CIK number of Registrant:** 0000916490

- **d. LEI of Registrant:** 549300TW26XMX8DL8P98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1055 MAITLAND CENTER COMMONS

  - **City:** MAITLAND

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 32759

  - **Telephone number:** 407-644-1986

**Item A.2. Information about the Series.**

- **a. Name of Series:** Timothy Plan High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000017791

- **c. LEI of Series:** 549300ZLWMUCZ2433N54

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $246912780.35

**Total Liabilities:** $251255.69

**Net Assets:** $246661524.66

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 964.81794300 | **5-Year:** 1972.11715900 | **10-Year:** 2745.77983000 | **30-Year:** 3750.72665200

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 507.00672000 | **1-Year:** 16707.78767000 | **5-Year:** 39235.00719400 | **10-Year:** 3607.57395900 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000049122 | -0.11%               | 0.77%                | 0.70%                |
| Class ID C000065171 | -0.11%               | 0.76%                | 0.59%                |
| Class ID C000127001 | 0.00%                | 0.77%                | 0.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $146478.21               | $-1505815.32                               |
| Month 2  | $-538614.80              | $1423645.23                                |
| Month 3  | $26504.98                | $524088.68                                 |

### Schedule of Portfolio Investments

| Name                                                                                       | Title                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acrisure Llc / Acrisure Fin Inc                                                            | ACRISU 7 1/2 11/06/30  | CUSIP: 00489LAL7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1045085.00   | 0.42%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Acrisure Llc / Acrisure Fin Inc                                                            | ACRISU 6 3/4 07/01/32  | CUSIP: 004961AA6<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1036968.93   | 0.42%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd                                                                 | ADNT 8 1/4 04/15/31    | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   3500000 | PA      | $3682309.19   | 1.49%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Adient Global Holdings Ltd                                                                 | ADNT 7 1/2 02/15/33    | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   2705000 | PA      | $2793745.34   | 1.13%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Trust (AER)        | AER 6.95 03/10/55      | CUSIP: 00774MBK0<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $1049786.24   | 0.43%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Air Lease Corporation                                                                      | AL 4.65 PERP           | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2980498.20   | 1.21%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC / Allied Universal Finance Corporation                         | UNSEAM 7 7/8 02/15/31  | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   2310000 | PA      | $2435834.34   | 0.99%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC / Allied Universal Finance Corporation                         | UNSEAM 6 7/8 06/15/30  | CUSIP: 019576AF4<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2423096.40   | 0.98%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                                                       | ALPGEN 6 3/4 10/15/32  | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |   2910000 | PA      | $3009117.51   | 1.22%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Aptiv PLC / Aptiv Global Financing DAC                                                     | APTV 6 7/8 12/15/54    | CUSIP: 03837AAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |   5620000 | PA      | $5837909.88   | 2.37%             | 2054-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Senior Incorporated                                                           | ABR 7 7/8 07/15/30     | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |   2355000 | PA      | $2243116.89   | 0.91%             | 2030-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Arbor Realty Senior Incorporated                                                           | ABR 8 1/2 12/15/28     | CUSIP: 03881NAL1<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |    650000 | PA      | $647780.37    | 0.26%             | 2028-12-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Aretec Escrow Issuer 2 Inc.                                                                | RCAP 10 08/15/30       | CUSIP: 04020JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1576000 | PA      | $1700596.98   | 0.69%             | 2030-08-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 4 5/8 08/01/29  | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2151856.80   | 0.87%             | 2029-08-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 4 5/8 04/01/30  | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $959461.10    | 0.39%             | 2030-04-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Ashton Woods (USA) LLC/Ashton Woods Finance Co.                                            | ASHWOO 6 7/8 08/01/33  | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1046708.77   | 0.42%             | 2033-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Asurion LLC / Asurion Co-Issuer Inc.                                                       | ASUCOR 8 12/31/32      | CUSIP: 045941AA9<br>LEI: 549300KNQVXGIOXWK278 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67470.74     | 0.03%             | 2032-12-31      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Atlas Luxco 4 S A R L / Allied Universal Holdco Llc / Allied Universal Finance Corporation | UNSEAM 4 5/8 06/01/28  | CUSIP: 049362AA4<br>LEI: 549300ONXPZT3KQZDR65 | Long             | DBT              | CORP              | LU        |    125000 | PA      | $123003.76    | 0.05%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Avient Corporation                                                                         | AVNT 7 1/8 08/01/30    | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1807923.25   | 0.73%             | 2030-08-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Avient Corporation                                                                         | AVNT 6 1/4 11/01/31    | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1177657.69   | 0.48%             | 2031-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Axalta Coating Systems LLC                                                                 | AXTA 3 3/8 02/15/29    | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $966174.90    | 0.39%             | 2029-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                                            | BGS 8 09/15/28         | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   3755000 | PA      | $3699125.11   | 1.50%             | 2028-09-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies Inc.                                                                      | BWXT 4 1/8 06/30/28    | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988812.00    | 0.40%             | 2028-06-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BWX Technologies Inc.                                                                      | BWXT 4 1/8 04/15/29    | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $975338.90    | 0.40%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.       | BRP 7 1/8 05/15/31     | CUSIP: 05825XAA7<br>LEI: 5493004GCDREAQPPYG20 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1114589.30   | 0.45%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Bausch Plus Lomb Corp.                                                                     | BLCOCN 8 3/8 10/01/28  | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $783750.00    | 0.32%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Builders Firstsource, Inc.                                                                 | BLDR 6 3/8 03/01/34    | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1294428.60   | 0.52%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                                                         | BURLN 6 1/4 04/15/28   | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    500000 | PA      | $497305.00    | 0.20%             | 2028-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Burford Capital Global Finance LLC                                                         | BURLN 9 1/4 07/01/31   | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1840310.01   | 0.75%             | 2031-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP & Bip-V Chinook Holdco LLC                                                   | BLKCQP 5 1/2 06/15/31  | CUSIP: 12657NAA8<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   2022000 | PA      | $2001736.73   | 0.81%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP & Bip-V Chinook Holdco LLC                                                   | BLKCQP 7 1/2 12/15/33  | CUSIP: 12657NAB6<br>LEI: 549300LPL012JY5D4B69 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2151684.00   | 0.87%             | 2033-12-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CACI International Inc.                                                                    | CACI 6 3/8 06/15/33    | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    995000 | PA      | $1030749.04   | 0.42%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Canpack SA And Canpack US LLC                                                              | CANPCK 3 7/8 11/15/29  | CUSIP: 13806CAA0<br>LEI: 259400TS8W5E4ILGVP08 | Long             | DBT              | CORP              | PL        |   1000000 | PA      | $957688.80    | 0.39%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| The Chemours Company LLC                                                                   | CC 4 5/8 11/15/29      | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2262881.50   | 0.92%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| The Chemours Company LLC                                                                   | CC 8 01/15/33          | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   2815000 | PA      | $2728466.06   | 1.11%             | 2033-01-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Ciena Corporation                                                                          | CIEN 4 01/31/30        | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    550000 | PA      | $530922.87    | 0.22%             | 2030-01-31      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                                                        | CLH 6 3/8 02/01/31     | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1675152.38   | 0.68%             | 2031-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating, LLC                                                           | PR 5 7/8 07/01/29      | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1766014.71   | 0.72%             | 2029-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Commercial Metals Company                                                                  | CMC 4 3/8 03/15/32     | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1448803.35   | 0.59%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Commercial Metals Company                                                                  | CMC 5 3/4 11/15/33     | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    640000 | PA      | $654791.71    | 0.27%             | 2033-11-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Concentra Health Services Inc.                                                             | CONCEN 6 7/8 07/15/32  | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |   1835000 | PA      | $1921252.34   | 0.78%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Cougar JV Subsidiary LLC                                                                   | HUDAUT 8 05/15/32      | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1142540.52   | 0.46%             | 2032-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Dream Finders Homes Inc                                                                    | DFH 6 7/8 09/15/30     | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $689329.20    | 0.28%             | 2030-09-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings Inc                                                                     | ENR 6 09/15/33         | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   4230000 | PA      | $4061795.74   | 1.65%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ESAB Corp.                                                                                 | ESAB 6 1/4 04/15/29    | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029454.00   | 0.42%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust                                                           | FID-MM GOVT-I          | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  16615867 | PA      | $16615866.55  | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Freedom Mortgage Corporation                                                               | FREMOR 6 5/8 01/15/27  | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503653.09    | 0.20%             | 2027-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 9 1/8 05/15/31  | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2688410.00   | 1.09%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 8 3/8 04/01/32  | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    330000 | PA      | $347856.37    | 0.14%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 7 7/8 04/01/33  | CUSIP: 35641AAD0<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1053992.24   | 0.43%             | 2033-04-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                              | FREMOR 6 7/8 05/01/31  | CUSIP: 35641AAE8<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2092943.74   | 0.85%             | 2031-05-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental Inc.                                                                     | GFLCN 6 3/4 01/15/31   | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1575621.00   | 0.64%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Gates Corp.                                                                                | GATCOR 6 7/8 07/01/29  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    700000 | PA      | $727811.04    | 0.30%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 7 3/4 02/01/28     | CUSIP: 37185LAL6<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502370.66    | 0.20%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 8 7/8 04/15/30     | CUSIP: 37185LAN2<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    750000 | PA      | $791674.50    | 0.32%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Genesis Energy LP & Genesis Energy Finance Corp.                                           | GEL 8 1/4 01/15/29     | CUSIP: 37185LAP7<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    600000 | PA      | $628263.60    | 0.25%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Global Partners LP / GLP Finance Corp.                                                     | GLP 8 1/4 01/15/32     | CUSIP: 37954FAK0<br>LEI: 549300PCHWTW9P4DU444 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3700581.50   | 1.50%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Goat Holdco LLC                                                                            | BARNES 6 3/4 02/01/32  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1195028.61   | 0.48%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. The                                                             | GT 5 5/8 04/30/33      | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2380870.33   | 0.97%             | 2033-04-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Graham Packaging Co Inc.                                                                   | GRMPAC 7 1/8 08/15/28  | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501400.00    | 0.20%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                                        | GPK 3 3/4 02/01/30     | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1186677.85   | 0.48%             | 2030-02-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Greystar Real Estate Partners LLC                                                          | GRSTAR 7 3/4 09/01/30  | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1582450.50   | 0.64%             | 2030-09-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| HAH Group Holding Co. LLC                                                                  | HAHGRO 9 3/4 10/01/31  | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |   3820000 | PA      | $3595112.63   | 1.46%             | 2031-10-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Enviri Corp.                                                                               | NVRI 5 3/4 07/31/27    | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5607358.40   | 2.27%             | 2027-07-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Howard Hughes Holdings Inc.                                                                | HHH 4 3/8 02/01/31     | CUSIP: 44267DAF4<br>LEI: 254900TY494BHXIU6M60 | Long             | DBT              | CORP              | US        |   2999000 | PA      | $2857132.60   | 1.16%             | 2031-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                                                     | HBGCN 7 1/4 06/15/30   | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050480.10   | 0.43%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                                                     | AER Float 12/21/65     | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2955000 | PA      | $2483709.12   | 1.01%             | 2065-12-21      | Floating      | 6.35%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                                                                    | AER 6 1/4 12/21/65     | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2576008.50   | 1.04%             | 2065-12-21      | Floating      | 6.60%                 | Yes           |                  2 | On Loan: No      |
| INEOS Finance PLC                                                                          | INEGRP 7 1/2 04/15/29  | CUSIP: 44984WAJ6<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |   2360000 | PA      | $2051997.34   | 0.83%             | 2029-04-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ITT Holdings LLC                                                                           | INTMAT 6 1/2 08/01/29  | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |   3075000 | PA      | $2953597.16   | 1.20%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Ingles Markets, Incorporated                                                               | IMKTA 4 06/15/31       | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1187216.50   | 0.48%             | 2031-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Insight Enterprises Inc.                                                                   | NSIT 6 5/8 05/15/32    | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028139.00   | 0.42%             | 2032-05-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Insulet Corporation                                                                        | PODD 6 1/2 04/01/33    | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    325000 | PA      | $340018.25    | 0.14%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Finance LLC/JFIN Co-Issuer Corp                                                  | JEFFIN 6 5/8 10/15/31  | CUSIP: 47232MAG7<br>LEI: 549300SKVB18YSSIDT75 | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3614515.11   | 1.47%             | 2031-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Kaiser Aluminium Corporation                                                               | KALU 4 1/2 06/01/31    | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1940338.16   | 0.79%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| KeHE Distributors, LLC / keHE Finance Corp.                                                | KEHEFO 9 02/15/29      | CUSIP: 487526AC9<br>LEI: 549300WQCH7SRQ8JKE47 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1345214.59   | 0.55%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Ken Garff Automotive Llc                                                                   | KENGAR 4 7/8 09/15/28  | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1994860.60   | 0.81%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| LABL Inc                                                                                   | LABL 8 1/4 11/01/29    | CUSIP: 50168QAD7<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $380000.00    | 0.15%             | 2029-11-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.                         | LADR 7 07/15/31        | CUSIP: 505742AR7<br>LEI: 254900TBF2Z4GR7NSX02 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1060927.00   | 0.43%             | 2031-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Lithia Motors Incorporated                                                                 | LAD 4 3/8 01/15/31     | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $961885.50    | 0.39%             | 2031-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corporation                                     | MPW 4 5/8 08/01/29     | CUSIP: 55342UAJ3<br>LEI: 254900U6E39J1MQCCY14 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1257919.20   | 0.51%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corporation                                     | MPW 8 1/2 02/15/32     | CUSIP: 55342UAQ7<br>LEI: WUQXXXF7PXTUPGROE843 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1517523.37   | 0.62%             | 2032-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                                     | BWY 7 7/8 04/15/30     | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2794218.00   | 1.13%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Pediatrix Medical Group Inc                                                                | MD 5 3/8 02/15/30      | CUSIP: 58502BAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1751595.07   | 0.71%             | 2030-02-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| National Mentor Holdings Inc                                                               | MENTOR 10 1/2 12/15/30 | CUSIP: 63688RAF4<br>LEI: 5493004QULJVJP3CNZ62 | Long             | DBT              | CORP              | US        |   3215000 | PA      | $3235023.73   | 1.31%             | 2030-12-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                        | RITM 8 04/01/29        | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   4050000 | PA      | $4161075.02   | 1.69%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                        | RITM 8 07/15/30        | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2200703.73   | 0.89%             | 2030-07-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Newmark Group Inc                                                                          | NMRK 7 1/2 01/12/29    | CUSIP: 65158NAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1073703.63   | 0.44%             | 2029-01-12      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Nustar Logistics, L.P.                                                                     | NSUS 5 5/8 04/28/27    | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2030462.00   | 0.82%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                              | OMF 6 1/8 05/15/30     | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021827.00   | 0.41%             | 2030-05-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Pennymac Financial Services Inc                                                            | PFSI 6 7/8 05/15/32    | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2095564.00   | 0.85%             | 2032-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating, LLC                                                           | PR 7 01/15/32          | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104555.00    | 0.04%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| PROG Holdings Inc.                                                                         | PRG 6 11/15/29         | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |   4842000 | PA      | $4798325.16   | 1.95%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| QXO Building Products Inc.                                                                 | QXO 6 3/4 04/30/32     | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1672349.89   | 0.68%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                                      | QUIKHO 6 3/8 03/01/32  | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    660000 | PA      | $687425.64    | 0.28%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| SPX Flow Inc.                                                                              | FLOW 8 3/4 04/01/30    | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $518105.00    | 0.21%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Upbound Group Inc                                                                          | UPBD 6 3/8 02/15/29    | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4702148.98   | 1.91%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                                                         | RYASPE 5 7/8 08/01/32  | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1022407.88   | 0.41%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Mativ Holdings Inc                                                                         | MATV 8 10/01/29        | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |   5065000 | PA      | $5122107.57   | 2.08%             | 2029-10-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                                                   | SVC 5 1/2 12/15/27     | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    750000 | PA      | $741113.76    | 0.30%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                                   | SVC 8 5/8 11/15/31     | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1447136.63   | 0.59%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                                     | SAH 4 7/8 11/15/31     | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1988748.28   | 0.81%             | 2031-11-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                                 | STENOR 7 3/8 06/01/31  | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3168621.00   | 1.28%             | 2031-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                                           | BMCAUS 6 1/2 08/15/32  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    335000 | PA      | $345112.98    | 0.14%             | 2032-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                                           | BMCAUS 6 1/4 08/01/33  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    975000 | PA      | $996549.37    | 0.40%             | 2033-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 04/15/30        | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    820000 | PA      | $844265.44    | 0.34%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 1/2 07/01/30    | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1046810.00   | 0.42%             | 2030-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                              | STWD 6 1/2 10/15/30    | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    655000 | PA      | $683364.12    | 0.28%             | 2030-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Stl Holding Company Llc                                                                    | DSLDHM 8 3/4 02/15/29  | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    680000 | PA      | $717427.20    | 0.29%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                                                  | ATSG 7 1/4 03/15/32    | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |    660000 | PA      | $699244.92    | 0.28%             | 2032-03-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TMS International Corp                                                                     | TMS 6 1/4 04/15/29     | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |   4004000 | PA      | $3885328.81   | 1.58%             | 2029-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TTM Technologies Inc                                                                       | TTMI 4 03/01/29        | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980476.48    | 0.40%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                               | THC 6 1/8 10/01/28     | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    526000 | PA      | $528698.91    | 0.21%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 7/8 12/15/30     | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1308768.40   | 0.53%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 3/8 03/01/29     | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2065037.90   | 0.84%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                            | TDG 6 1/4 01/31/34     | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    325000 | PA      | $337383.48    | 0.14%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Trimas Corporation                                                                         | TRS 4 1/8 04/15/29     | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1703412.73   | 0.69%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                               | TRIVIU 12 1/4 01/15/31 | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $325768.89    | 0.13%             | 2031-01-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                               | TRIVIU 8 1/4 07/15/30  | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    270000 | PA      | $289636.83    | 0.12%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Tronox Incorporated                                                                        | TROX 4 5/8 03/15/29    | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $963760.16    | 0.39%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Tronox Incorporated                                                                        | TROX 9 1/8 09/30/30    | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    905000 | PA      | $904324.68    | 0.37%             | 2030-09-30      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| UKG Inc.                                                                                   | ULTI 6 7/8 02/01/31    | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1029259.00   | 0.42%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| VT Topco Inc.                                                                              | VERCOR 8 1/2 08/15/30  | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1311017.50   | 0.53%             | 2030-08-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Vistra Corp                                                                                | VST 7 PERP             | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2042407.34   | 0.83%             | 2170-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co LLC                                                                   | VST 4 3/8 05/01/29     | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246964.93    | 0.10%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 5 5/8 08/15/29     | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2389341.50   | 0.97%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 7 3/8 03/01/31     | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027810.00   | 0.42%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                                   | GRA 6 5/8 08/15/32     | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $1363143.59   | 0.55%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Walker & Dunlop Inc.                                                                       | WD 6 5/8 04/01/33      | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    655000 | PA      | $674943.44    | 0.27%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Waste Pro USA Inc                                                                          | WASPRO 7 02/01/33      | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   3225000 | PA      | $3328957.52   | 1.35%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Weekley Homes LLC/Weekley Finance Corp.                                                    | WEEKHM 4 7/8 09/15/28  | CUSIP: 948565AD8<br>LEI: 5493009MTTQO8ZN53F13 | Long             | DBT              | CORP              | US        |   2023000 | PA      | $1996640.71   | 0.81%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Weekley Homes LLC/Weekley Finance Corp.                                                    | WEEKHM 6 3/4 01/15/34  | CUSIP: 948565AF3<br>LEI: 5493009MTTQO8ZN53F13 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $3274962.92   | 1.33%             | 2034-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Wesco Distribution, Inc.                                                                   | WCC 6 3/8 03/15/29     | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1406129.55   | 0.57%             | 2029-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Wesco Distribution, Inc.                                                                   | WCC 6 5/8 03/15/32     | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1421823.98   | 0.58%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Williams Scotsman Inc.                                                                     | WLSC 6 5/8 06/15/29    | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1036601.00   | 0.42%             | 2029-06-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Zebra Technologies Corporation                                                             | ZBRA 6 1/2 06/01/32    | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1036732.00   | 0.42%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** TIMOTHY PLAN

**Signature:** Arthur D. Ally

**Name of Signer:** Arthur D. Ally

**Title:** President & Treasurer