# EDGAR Filing Document

**Accession Number:** 0000916490
**File Stem:** 0001752724-25-207127
**Filing Date:** 2025-8
**Character Count:** 115340
**Document Hash:** af8da8df5d999cd1c71a960b4489538a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207127.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207127

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**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:** 251260775

**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 Large/Mid Cap Value Fund (Series ID: S000004480)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000012333 | Timothy Plan Large/Mid Cap Value Fund Class A | TLVAX           |
| C000012335 | Timothy Plan Large/Mid Cap Value Fund Class C | TLVCX           |
| C000126994 | Timothy Plan Large/Mid Cap Value Fund Class I | TMVIX           |

## Nport-Ex

---

| |
|:---|
| **TIMOTHY PLAN CONSERVATIVE GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 47.4%** |  |
|  | **EQUITY - 47.4%** |  |
| 91000 | Timothy Plan High Dividend Stock ETF<sup>(a)</sup> | $3439800 |
| 112144 | Timothy Plan International ETF<sup>(a)</sup> | 3621567 |
| 75300 | Timothy Plan Market Neutral ETF<sup>(a)</sup> | 1810400 |
| 91000 | Timothy Plan US Large/Mid Cap Core ETF<sup>(a)</sup> | 4085801 |
| 99105 | Timothy Plan US Small Cap Core ETF<sup>(a)</sup> | 3833381 |
|  |  | 16790949 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $14,755,985)** | 16790949 |
|  | **OPEN END FUNDS — 51.0%** |  |
|  | **EQUITY - 11.7%** |  |
| 281982 | Timothy Plan International Fund, Class A<sup>(a)</sup> | 4131035 |
|  | **FIXED INCOME - 39.3%** |  |
| 1274994 | Timothy Plan Fixed Income Fund, Class A<sup>(a)</sup> | 11615195 |
| 251416 | Timothy Plan High Yield Bond Fund, Class A<sup>(a)</sup> | 2275312 |
|  |  | 13890507 |
|  | **TOTAL OPEN END FUNDS (Cost $18,692,008)** | 18021542 |
|  | **SHORT-TERM INVESTMENT — 1.7%** |  |
|  | **MONEY MARKET FUND - 1.7%** |  |
| 617054 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $617,054) | 617054 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $34,065,047)** | $35429545 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | (29990) |
|  | **NET ASSETS - 100.0%** | $35399555 |

---

ETF - Exchange-Traded Fund <br>

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

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2%** |  |
|  | **CHEMICALS - 1.4%** |  |
| 940 | Albemarle Corporation | $58910 |
| 2049 | CF Industries Holdings, Inc. | 188508 |
| 1853 | FMC Corporation | 77363 |
| 6014 | ICL Group Ltd. | 41376 |
| 7069 | K+S A.G. | 129557 |
| 5479 | Mosaic Company (The) | 199874 |
| 3731 | Nutrien Ltd. | 217293 |
| 3601 | OCI N.V. | 32532 |
| 3097 | Sociedad Quimica y Minera de Chile S.A. - ADR<sup>(a)</sup> | 109231 |
| 1773 | Yara International ASA | 65443 |
|  |  | 1120087 |
|  | **DATA CENTER REIT - 1.2%** |  |
| 5000 | Digital Realty Trust, Inc. | 871650 |
|  | **ELECTRIC UTILITIES - 0.1%** |  |
| 3200 | Northland Power, Inc. | 50204 |
|  | **ENGINEERING & CONSTRUCTION - 0.0%<sup>(b)</sup>** |  |
| 799 | Technip Energies N.V. | 33635 |
|  | **FOOD - 1.4%** |  |
| 2563 | Adecoagro S.A. | 23426 |
| 4499 | BRF S.A. - ADR | 16421 |
| 853 | Cal-Maine Foods, Inc. | 84984 |
| 3587 | Darling Ingredients, Inc.<sup>(a)</sup> | 136091 |
| 1353 | Dole plc | 18928 |
| 564 | Fresh Del Monte Produce, Inc. | 18285 |
| 2408 | Hormel Foods Corporation | 72842 |
| 1385 | Ingredion, Inc. | 187834 |
| 5900 | MEIJI Holdings Company Ltd. | 130551 |
| 2600 | Morinaga Milk Industry Company Ltd. | 58434 |
| 5082 | Mowi ASA | 98127 |
| 1400 | NH Foods Ltd. | 48523 |
| 4300 | Nisshin Seifun Group, Inc. | 51425 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **FOOD - 1.4% (Continued)** |  |
| 4700 | Nissui Corporation | $28576 |
| 2546 | Pilgrim's Pride Corporation | 114519 |
| 841 | Salmar ASA | 36449 |
|  |  | 1125415 |
|  | **FORESTRY, PAPER & WOOD PRODUCTS - 0.1%** |  |
| 5700 | Sumitomo Forestry Company Ltd. | 57720 |
|  | **GAS & WATER UTILITIES - 0.6%** |  |
| 403 | American States Water Company | 30894 |
| 559 | American Water Works Company, Inc. | 77762 |
| 910 | California Water Service Group | 41387 |
| 4258 | Cia de Saneamento Basico do Estado de Sao Paulo - ADR | 93548 |
| 1577 | Essential Utilities, Inc. | 58570 |
| 1154 | Severn Trent plc | 43305 |
| 264 | SJW Group | 13720 |
| 4078 | United Utilities Group plc | 63894 |
| 3246 | Veolia Environnement S.A. | 115656 |
|  |  | 538736 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.4%** |  |
| 48754 | Brookdale Senior Living, Inc.<sup>(a)</sup> | 339328 |
|  | **HEALTH CARE REIT - 1.7%** |  |
| 17200 | American Healthcare REIT, Inc. | 631928 |
| 46000 | Healthcare Realty Trust, Inc. | 729560 |
|  |  | 1361488 |
|  | **INDUSTRIAL REIT - 1.5%** |  |
| 11100 | Lineage, Inc. | 483072 |
| 20000 | Rexford Industrial Realty, Inc. | 711400 |
|  |  | 1194472 |
|  | **MACHINERY - 1.1%** |  |
| 748 | AGCO Corporation | 77164 |
| 7354 | CNH Industrial N.V. | 95308 |
| 758 | Deere & Company | 385435 |
| 11900 | Kubota Corporation | 134012 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **MACHINERY - 1.1% (Continued)** |  |
| 1700 | Kurita Water Industries Ltd. | $67254 |
| 400 | Organo Corporation | 24995 |
| 840 | Weir Group plc (The) | 28709 |
|  |  | 812877 |
|  | **METALS & MINING - 6.0%** |  |
| 1434 | Agnico Eagle Mines Ltd. | 170803 |
| 413 | Agnico Eagle Mines Ltd. | 49118 |
| 959 | Alamos Gold, Inc., Class A | 25471 |
| 471 | Alcoa Corporation | 13899 |
| 1884 | Anglo American plc | 55597 |
| 637 | Anglogold Ashanti plc | 29028 |
| 1391 | Antofagasta plc | 34548 |
| 513 | Aurubis A.G. | 53354 |
| 7268 | Barrick Mining Corporation | 151320 |
| 9240 | BHP Group Ltd. - ADR | 444352 |
| 2095 | Cameco Corporation | 155512 |
| 17200 | Capstone Copper Corporation<sup>(a)</sup> | 105566 |
| 8700 | Centerra Gold, Inc. | 62658 |
| 3247 | Cia de Minas Buenaventura S.A.A. - ADR | 53316 |
| 964 | Cleveland-Cliffs, Inc.<sup>(a)</sup> | 7326 |
| 400 | Dowa Holdings Company Ltd. | 12975 |
| 10864 | Eldorado Gold Corporation<sup>(a)</sup> | 220974 |
| 2100 | Endeavour Mining plc | 64737 |
| 600 | First Quantum Minerals Ltd.<sup>(a)</sup> | 10656 |
| 26 | Franco-Nevada Corporation | 4262 |
| 7772 | Freeport-McMoRan, Inc. | 336916 |
| 1058 | Gold Fields Ltd. - ADR | 25043 |
| 627 | Harmony Gold Mining Company Ltd. - ADR | 8759 |
| 13716 | Hecla Mining Company | 82159 |
| 16300 | Hudbay Minerals, Inc. | 172919 |
| 11131 | IAMGOLD Corporation<sup>(a)</sup> | 81813 |
| 8400 | Ivanhoe Mines Ltd.<sup>(a)</sup> | 63087 |
| 6715 | Kinross Gold Corporation | 104955 |
| 800 | Labrador Iron Ore Royalty Corporation | 16668 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **METALS & MINING - 6.0% (Continued)** |  |
| 13200 | Lundin Mining Corporation | $138773 |
| 2500 | Mitsubishi Materials Corporation | 39584 |
| 2026 | MP Materials Corporation<sup>(a)</sup> | 67405 |
| 4359 | Newmont Corporation | 253955 |
| 7557 | NexGen Energy Ltd.<sup>(a)</sup> | 52446 |
| 2661 | Norsk Hydro ASA | 15192 |
| 1459 | OR Royalties, Inc. | 37511 |
| 3259 | Pan American Silver Corporation | 92556 |
| 5837 | Rio Tinto plc - ADR | 340472 |
| 307 | Royal Gold, Inc. | 54597 |
| 6049 | Sandstorm Gold Ltd. | 56861 |
| 1830 | Southern Copper Corporation | 185135 |
| 4900 | Sumitomo Metal Mining Company Ltd. | 121114 |
| 1143 | Teck Resources Ltd., Class B | 46211 |
| 4336 | Teck Resources Ltd., Class B | 175088 |
| 22903 | Vale S.A. - ADR | 222388 |
| 219 | Valterra Platinum Limited<sup>(a)</sup> | 9619 |
| 963 | Warrior Met Coal, Inc. | 44134 |
| 1473 | Wheaton Precious Metals Corporation | 132275 |
|  |  | 4703107 |
|  | **OFFICE REIT - 1.7%** |  |
| 4900 | Alexandria Real Estate Equities, Inc. | 355887 |
| 5700 | BXP, Inc. | 384579 |
| 17500 | Highwoods Properties, Inc. | 544075 |
|  |  | 1284541 |
|  | **OIL & GAS PRODUCERS - 5.5%** |  |
| 7597 | Aker BP ASA | 194328 |
| 247 | APA Corporation | 4518 |
| 6300 | ARC Resources Ltd. | 132789 |
| 74500 | Baytex Energy Corporation | 133455 |
| 1128 | Black Stone Minerals, L.P. | 14754 |
| 6274 | Canadian Natural Resources Ltd. | 197003 |
| 14000 | Cenovus Energy, Inc. | 190455 |
| 969 | Chord Energy Corporation | 93848 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **OIL & GAS PRODUCERS - 5.5% (Continued)** |  |
| 3830 | Civitas Resources, Inc. | $105402 |
| 2443 | CNX Resources Corporation<sup>(a)</sup> | 82280 |
| 3943 | ConocoPhillips | 353844 |
| 4962 | Coterra Energy, Inc. | 125936 |
| 5594 | Devon Energy Corporation | 177945 |
| 771 | Diamondback Energy, Inc. | 105935 |
| 1525 | Eni SpA - ADR | 49441 |
| 2294 | EOG Resources, Inc. | 274384 |
| 1232 | EQT Corporation | 71850 |
| 6311 | Equinor ASA - ADR | 158658 |
| 170 | Hess Corporation | 23552 |
| 900 | Imperial Oil Ltd. | 71479 |
| 11800 | Inpex Corporation | 165903 |
| 1920 | Magnolia Oil & Gas Corporation, Class A | 43162 |
| 3376 | Matador Resources Company | 161103 |
| 2000 | MEG Energy Corporation | 37780 |
| 5150 | Murphy Oil Corporation | 115875 |
| 255 | Ovintiv, Inc. | 9703 |
| 8071 | Permian Resources Corporation | 109927 |
| 12064 | Petroleo Brasileiro S.A. - ADR | 150921 |
| 1300 | Peyto Exploration & Development Corporation | 18563 |
| 2000 | PrairieSky Royalty Ltd. | 34681 |
| 546 | Range Resources Corporation | 22206 |
| 4459 | SM Energy Company | 110182 |
| 5800 | Suncor Energy, Inc. | 217205 |
| 3050 | TotalEnergies S.E. | 187167 |
| 2700 | Tourmaline Oil Corporation | 130232 |
| 6248 | Var Energi ASA 144A<sup>(c)</sup> | 20092 |
| 97 | Viper Energy, Inc. | 3699 |
| 13500 | Whitecap Resources, Inc. | 90687 |
| 2942 | Woodside Energy Group Ltd. - ADR | 45395 |
|  |  | 4236339 |
|  | **OIL & GAS SERVICES & EQUIPMENT - 1.3%** |  |
| 2584 | Archrock, Inc. | 64161 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **OIL & GAS SERVICES & EQUIPMENT - 1.3% (Continued)** |  |
| 3881 | Baker Hughes Company | $148797 |
| 2140 | ChampionX Corporation | 53158 |
| 2945 | Fugro N.V. | 41383 |
| 6107 | Halliburton Company | 124461 |
| 5583 | Helmerich & Payne, Inc. | 84638 |
| 9893 | Liberty Energy, Inc., Class A | 113572 |
| 969 | Noble Corp plc | 25727 |
| 2196 | NOV, Inc. | 27296 |
| 863 | Oceaneering International, Inc.<sup>(a)</sup> | 17881 |
| 15254 | Patterson-UTI Energy, Inc. | 90456 |
| 4301 | Schlumberger Ltd. | 145374 |
| 1900 | Secure Waste Infrastructure Corporation | 21719 |
| 2024 | Tidewater, Inc.<sup>(a)</sup> | 93367 |
| 4187 | Transocean Ltd.<sup>(a)</sup> | 10844 |
|  |  | 1062834 |
|  | **REAL ESTATE INVESTMENT TRUSTS - 13.5%** |  |
| 20000 | American Homes 4 Rent, Class A | 721400 |
| 4500 | American Tower Corporation, Class A | 994590 |
| 3900 | AvalonBay Communities, Inc. | 793650 |
| 7700 | Camden Property Trust | 867713 |
| 1620 | Equinix, Inc. | 1288661 |
| 15000 | InvenTrust Properties Corporation | 411000 |
| 378 | PotlatchDeltic Corporation | 14504 |
| 10500 | Prologis, Inc. | 1103760 |
| 2000 | Public Storage | 586840 |
| 1695 | Rayonier, Inc. | 37595 |
| 3000 | SBA Communications Corporation, Class A | 704520 |
| 18000 | Sila Realty Trust, Inc. | 426060 |
| 10000 | Smartstop Self Storage REIT, Inc. | 362300 |
| 5350 | Sun Communities, Inc. | 676722 |
| 16000 | Ventas, Inc. | 1010400 |
| 4100 | Welltower, Inc. | 630293 |
| 1049 | Weyerhaeuser Company | 26949 |
|  |  | 10656957 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 41.2% (Continued)** |  |
|  | **RENEWABLE ENERGY - 0.0%<sup>(b)</sup>** |  |
| 223 | First Solar, Inc.<sup>(a)</sup> | $36915 |
|  | **RESIDENTIAL REIT - 0.8%** |  |
| 20000 | Invitation Homes, Inc. | 656000 |
|  | **RETAIL REIT - 1.5%** |  |
| 25000 | Brixmor Property Group, Inc. | 651000 |
| 10000 | NNN REIT, Inc. | 431800 |
| 13000 | Whitestone REIT | 162240 |
|  |  | 1245040 |
|  | **SELF-STORAGE REIT - 0.4%** |  |
| 2300 | Extra Space Storage, Inc. | 339112 |
|  | **SEMICONDUCTORS - 0.1%** |  |
| 7600 | SUMCO Corporation | 59890 |
|  | **STEEL - 0.7%** |  |
| 2219 | ArcelorMittal S.A. - ADR | 70076 |
| 1091 | ATI, Inc.<sup>(a)</sup> | 94196 |
| 22644 | Gerdau S.A. - ADR | 66120 |
| 3200 | JFE Holdings, Inc. | 37259 |
| 3000 | Nippon Steel Corporation | 56926 |
| 361 | Nucor Corporation | 46764 |
| 1078 | POSCO Holdings, Inc. - ADR | 52272 |
| 59 | Steel Dynamics, Inc. | 7553 |
| 1095 | Ternium S.A. - ADR | 32960 |
| 6390 | thyssenkrupp A.G. | 68657 |
|  |  | 532783 |
|  | **WHOLESALE - CONSUMER STAPLES - 0.2%** |  |
| 2104 | Bunge Global S.A. | 168909 |
|  | **TOTAL COMMON STOCKS (Cost $30,927,882)** | 32488039 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 15.0%** |  |  |  |
|  | **EQUITY - 15.0%** |  |  |  |
| 490800 | Timothy Plan Market Neutral ETF<sup>(d)</sup> |  |  | $11800059 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $12,188,308)** |  |  | 11800059 |
|  | **PRECIOUS METALS - PHYSICAL HOLDING — 25.7%** |  |  |  |
|  | **PRECIOUS METAL - 25.7%** |  |  |  |
| 6143 | GOLD BARS - XAU BGN CURRENCY<sup>(a)</sup> |  |  | 20303969 |
|  | **TOTAL PRECIOUS METALS - PHYSICAL HOLDING (Cost $7,240,876)** |  |  | 20303969 |
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** |  |
|  | **U.S. GOVERNMENT & AGENCIES — 13.2%** |  |  |  |
|  | **U.S. TREASURY INFLATION PROTECTED — 13.2%** |  |  |  |
| 1111200 | United States Treasury Inflation Indexed Bonds | 2.0000 | &nbsp;&nbsp;01/15/26 | 1799230 |
| 1270000 | United States Treasury Inflation Indexed Bonds | 2.3750 | &nbsp;&nbsp;01/15/27 | 2054137 |
| 1420000 | United States Treasury Inflation Indexed Bonds | 0.5000 | &nbsp;&nbsp;01/15/28 | 1812681 |
| 575000 | United States Treasury Inflation Indexed Bonds | 1.7500 | &nbsp;&nbsp;01/15/28 | 891862 |
| 1075000 | United States Treasury Inflation Indexed Bonds | 0.8750 | &nbsp;&nbsp;01/15/29 | 1344842 |
| 925000 | United States Treasury Inflation Indexed Bonds | 2.5000 | &nbsp;&nbsp;01/15/29 | 1438362 |
| 205400 | United States Treasury Inflation Indexed Bonds | 0.1250 | &nbsp;&nbsp;01/15/31 | 234635 |
| 1175000 | United States Treasury Inflation Indexed Bonds | 0.1250 | &nbsp;&nbsp;02/15/51 | 793855 |
|  |  |  |  | 10369604 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $11,345,296)** |  |  | 10369604 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENT — 4.8%** |  |  |  |
|  | **MONEY MARKET FUND - 4.8%** |  |  |  |
| 3764656 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(e)</sup> (Cost $3,764,656) | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(e)</sup> (Cost $3,764,656) | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(e)</sup> (Cost $3,764,656) | 3764656 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $65,467,018)** |  |  | $78726327 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** |  |  | 104878 |
|  | **NET ASSETS - 100.0%** |  |  | $78831205 |

---

---

| |
|:---|
| **TIMOTHY PLAN DEFENSIVE STRATEGIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

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

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Percentage rounds to less than 0.1%.

<sup>(c)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025, the total market value of 144A securities is $20,092 or 0.0% of net assets.

<sup>(d)</sup> Investment in affiliate.

<sup>(e)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 4.6%** |  |  |  |
|  | **CLO — 1.5%** |  |  |  |
| 1665000 | Kubota Credit Owner Trust 2025-2 Series 2A A3<sup>(a)</sup> | 4.4200 | &nbsp;&nbsp;09/17/29 | $1674379 |
|  | **OTHER ABS — 3.1%** |  |  |  |
| 1115000 | CNH Equipment Trust 2025-A Series A A3 | 4.3600 | &nbsp;&nbsp;08/15/30 | 1123808 |
| 2320000 | John Deere Owner Trust 2025 Series A A3 | 4.2300 | &nbsp;&nbsp;09/17/29 | 2327886 |
|  |  |  |  | 3451694 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $5,099,746)** |  |  | 5126073 |
|  | **CORPORATE BONDS — 27.9%** |  |  |  |
|  | **CHEMICALS — 2.1%** |  |  |  |
| 1570000 | Nutrien Ltd. | 4.0000 | &nbsp;&nbsp;12/15/26 | 1560944 |
| 805000 | Nutrien Ltd. | 2.9500 | &nbsp;&nbsp;05/13/30 | 748937 |
|  |  |  |  | 2309881 |
|  | **COMMERCIAL SUPPORT SERVICES — 0.8%** |  |  |  |
| 450000 | Republic Services, Inc. | 5.0000 | &nbsp;&nbsp;04/01/34 | 456913 |
| 450000 | Waste Management, Inc. | 4.6250 | &nbsp;&nbsp;02/15/33 | 450970 |
|  |  |  |  | 907883 |
|  | **ELECTRIC UTILITIES — 3.2%** |  |  |  |
| 2205000 | American Electric Power Company, Inc. | 3.2000 | &nbsp;&nbsp;11/13/27 | 2151522 |
| 1000000 | Electricite de France S.A.<sup>(a)</sup> | 5.7000 | &nbsp;&nbsp;05/23/28 | 1030293 |
| 405000 | National Rural Utilities Cooperative Finance Corporation | 5.0500 | &nbsp;&nbsp;09/15/28 | 414454 |
|  |  |  |  | 3596269 |
|  | **GAS & WATER UTILITIES — 1.9%** |  |  |  |
| 2185000 | NiSource, Inc. | 3.4900 | &nbsp;&nbsp;05/15/27 | 2152005 |
|  | **INSTITUTIONAL FINANCIAL SERVICES — 0.9%** |  |  |  |
| 1000000 | Cboe Global Markets, Inc. | 3.6500 | &nbsp;&nbsp;01/12/27 | 992252 |
|  | **MACHINERY — 1.6%** |  |  |  |
| 900000 | Caterpillar Financial Services Corporation | 4.3500 | &nbsp;&nbsp;05/15/26 | 900629 |
| 900000 | John Deere Capital Corporation | 3.9000 | &nbsp;&nbsp;06/07/32 | 867388 |
|  |  |  |  | 1768017 |

---

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 27.9% (Continued)** |  |  |  |
|  | **METALS & MINING — 3.5%** |  |  |  |
| 925000 | BHP Billiton Finance USA Ltd. | 5.1250 | &nbsp;&nbsp;02/21/32 | $947826 |
| 1430000 | BHP Billiton Finance USA Ltd. | 5.2500 | &nbsp;&nbsp;09/08/33 | 1465007 |
| 930000 | Rio Tinto Finance USA plc | 5.0000 | &nbsp;&nbsp;03/14/32 | 946615 |
| 450000 | Rio Tinto Finance USA plc | 5.0000 | &nbsp;&nbsp;03/09/33 | 457121 |
|  |  |  |  | 3816569 |
|  | **OIL & GAS PRODUCERS — 4.9%** |  |  |  |
| 1815000 | Columbia Pipelines Holding Company, LLC<sup>(a)</sup> | 6.0420 | &nbsp;&nbsp;08/15/28 | 1889265 |
| 1150000 | Energy Transfer, L.P. | 5.6000 | &nbsp;&nbsp;09/01/34 | 1168852 |
| 1980000 | Energy Transfer, L.P. | 6.2500 | &nbsp;&nbsp;04/15/49 | 1957905 |
| 450000 | Enterprise Products Operating, LLC | 5.3500 | &nbsp;&nbsp;01/31/33 | 466300 |
|  |  |  |  | 5482322 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 4.1%** |  |  |  |
| 930000 | American Tower Corporation | 5.3500 | &nbsp;&nbsp;03/15/35 | 946737 |
| 1520000 | Digital Realty Trust, L.P. | 3.7000 | &nbsp;&nbsp;08/15/27 | 1501259 |
| 2200000 | Healthpeak Properties, Inc. | 3.5000 | &nbsp;&nbsp;07/15/29 | 2125153 |
|  |  |  |  | 4573149 |
|  | **RETAIL - CONSUMER STAPLES — 1.4%** |  |  |  |
| 1575000 | Dollar General Corporation | 4.1250 | &nbsp;&nbsp;05/01/28 | 1564297 |
|  | **RETAIL - DISCRETIONARY — 1.6%** |  |  |  |
| 1795000 | Tractor Supply Company | 5.2500 | &nbsp;&nbsp;05/15/33 | 1833674 |
|  | **TRANSPORTATION & LOGISTICS — 1.9%** |  |  |  |
| 2190000 | CSX Corporation | 3.2500 | &nbsp;&nbsp;06/01/27 | 2155591 |
|  | **TOTAL CORPORATE BONDS (Cost $31,290,934)** |  |  | 31151909 |
|  | **NON U.S. GOVERNMENT & AGENCIES — 4.5%** |  |  |  |
|  | **LOCAL AUTHORITY — 2.0%** |  |  |  |
| 2235000 | Province of Ontario Canada | 2.5000 | &nbsp;&nbsp;04/27/26 | 2205636 |

---

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **NON U.S. GOVERNMENT & AGENCIES — 4.5% (Continued)** |  |  |  |
|  | **SOVEREIGN — 2.5%** |  |  |  |
| 1800000 | Israel Government International Bond | 5.5000 | &nbsp;&nbsp;03/12/34 | $1824496 |
| 1000000 | Mexico Government International Bond | 6.8750 | &nbsp;&nbsp;05/13/37 | 1045055 |
|  |  |  |  | 2869551 |
|  | **TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $5,019,081)** |  |  | 5075187 |
|  | **U.S. GOVERNMENT & AGENCIES — 60.4%** |  |  |  |
|  | **AGENCY FIXED RATE — 38.1%** |  |  |  |
| 992393 | Fannie Mae Pool FM5537 | 2.0000 | &nbsp;&nbsp;01/01/36 | 912627 |
| 733255 | Fannie Mae Pool MA4316 | 2.5000 | &nbsp;&nbsp;04/01/36 | 686620 |
| 584980 | Fannie Mae Pool MA4366 | 2.5000 | &nbsp;&nbsp;06/01/41 | 523713 |
| 342873 | Fannie Mae Pool MA4475 | 2.5000 | &nbsp;&nbsp;10/01/41 | 306108 |
| 975176 | Fannie Mae Pool MA4617 | 3.0000 | &nbsp;&nbsp;04/01/42 | 888363 |
| 813137 | Fannie Mae Pool FM4053 | 2.5000 | &nbsp;&nbsp;08/01/50 | 684504 |
| 1108738 | Fannie Mae Pool CA8897 | 3.0000 | &nbsp;&nbsp;02/01/51 | 975969 |
| 678281 | Fannie Mae Pool MA4258 | 3.5000 | &nbsp;&nbsp;02/01/51 | 617874 |
| 386791 | Fannie Mae Pool FM6550 | 2.0000 | &nbsp;&nbsp;03/01/51 | 311377 |
| 681888 | Fannie Mae Pool CB0855 | 3.0000 | &nbsp;&nbsp;06/01/51 | 595506 |
| 1313911 | Fannie Mae Pool FS3744 | 2.0000 | &nbsp;&nbsp;07/01/51 | 1048760 |
| 405914 | Fannie Mae Pool FS1807 | 3.5000 | &nbsp;&nbsp;07/01/51 | 369852 |
| 1336383 | Fannie Mae Pool CB1384 | 2.5000 | &nbsp;&nbsp;08/01/51 | 1122630 |
| 717776 | Fannie Mae Pool FS9085 | 3.0000 | &nbsp;&nbsp;12/01/51 | 623494 |
| 1191874 | Fannie Mae Pool FS6141 | 2.0000 | &nbsp;&nbsp;01/01/52 | 953096 |
| 297077 | Fannie Mae Pool BU1322 | 2.5000 | &nbsp;&nbsp;02/01/52 | 249709 |
| 834857 | Fannie Mae Pool CB3486 | 3.5000 | &nbsp;&nbsp;05/01/52 | 755059 |
| 435859 | Fannie Mae Pool FS1704 | 4.0000 | &nbsp;&nbsp;05/01/52 | 408870 |
| 718031 | Fannie Mae Pool BV9960 | 4.0000 | &nbsp;&nbsp;06/01/52 | 672230 |
| 788561 | Fannie Mae Pool FS3159 | 4.5000 | &nbsp;&nbsp;10/01/52 | 758717 |
| 1182955 | Fannie Mae Pool FS4075 | 5.0000 | &nbsp;&nbsp;04/01/53 | 1168557 |
| 1122247 | Fannie Mae Pool FS5044 | 4.5000 | &nbsp;&nbsp;06/01/53 | 1086444 |
| 268520 | Fannie Mae Pool FS4621 | 5.0000 | &nbsp;&nbsp;06/01/53 | 266385 |
| 1627390 | Fannie Mae Pool MA5039 | 5.5000 | &nbsp;&nbsp;06/01/53 | 1630755 |
| 872980 | Fannie Mae Pool FS8291 | 5.5000 | &nbsp;&nbsp;07/01/53 | 880320 |

---

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 60.4% (Continued)** |  |  |  |
|  | **AGENCY FIXED RATE — 38.1% (Continued)** |  |  |  |
| 1035725 | Fannie Mae Pool FS6787 | 6.0000 | &nbsp;&nbsp;01/01/54 | $1063960 |
| 1046441 | Fannie Mae Pool CB7980 | 5.5000 | &nbsp;&nbsp;02/01/54 | 1053728 |
| 250041 | Fannie Mae Pool FS8138 | 6.5000 | &nbsp;&nbsp;06/01/54 | 260716 |
| 1065098 | Fannie Mae Pool FS9456 | 5.5000 | &nbsp;&nbsp;11/01/54 | 1068563 |
| 45684 | Ginnie Mae I Pool 723248 | 5.0000 | &nbsp;&nbsp;10/15/39 | 46314 |
| 195870 | Ginnie Mae I Pool 783060 | 4.0000 | &nbsp;&nbsp;08/15/40 | 185935 |
| 107226 | Ginnie Mae I Pool 783403 | 3.5000 | &nbsp;&nbsp;09/15/41 | 100023 |
| 84422 | Ginnie Mae II Pool 4520 | 5.0000 | &nbsp;&nbsp;08/20/39 | 85506 |
| 113259 | Ginnie Mae II Pool 4947 | 5.0000 | &nbsp;&nbsp;02/20/41 | 113756 |
| 207425 | Ginnie Mae II Pool MA3376 | 3.5000 | &nbsp;&nbsp;01/20/46 | 192901 |
| 131451 | Ginnie Mae II Pool MA3596 | 3.0000 | &nbsp;&nbsp;04/20/46 | 118050 |
| 350380 | Ginnie Mae II Pool MA3663 | 3.5000 | &nbsp;&nbsp;05/20/46 | 325844 |
| 126432 | Ginnie Mae II Pool MA3736 | 3.5000 | &nbsp;&nbsp;06/20/46 | 117513 |
| 219221 | Ginnie Mae II Pool MA4004 | 3.5000 | &nbsp;&nbsp;10/20/46 | 203305 |
| 146036 | Ginnie Mae II Pool MA4509 | 3.0000 | &nbsp;&nbsp;06/20/47 | 130904 |
| 175558 | Ginnie Mae II Pool MA4652 | 3.5000 | &nbsp;&nbsp;08/20/47 | 162101 |
| 214490 | Ginnie Mae II Pool MA4719 | 3.5000 | &nbsp;&nbsp;09/20/47 | 197321 |
| 220658 | Ginnie Mae II Pool MA4778 | 3.5000 | &nbsp;&nbsp;10/20/47 | 203699 |
| 174813 | Ginnie Mae II Pool MA4901 | 4.0000 | &nbsp;&nbsp;12/20/47 | 164698 |
| 151077 | Ginnie Mae II Pool MA4963 | 4.0000 | &nbsp;&nbsp;01/20/48 | 142243 |
| 142284 | Ginnie Mae II Pool MA6092 | 4.5000 | &nbsp;&nbsp;08/20/49 | 137533 |
| 150909 | Ginnie Mae II Pool MA6156 | 4.5000 | &nbsp;&nbsp;09/20/49 | 146295 |
| 567084 | Ginnie Mae II Pool BN2662 | 3.0000 | &nbsp;&nbsp;10/20/49 | 502530 |
| 140402 | Ginnie Mae II Pool MA6221 | 4.5000 | &nbsp;&nbsp;10/20/49 | 136426 |
| 142658 | Ginnie Mae II Pool MA6477 | 4.5000 | &nbsp;&nbsp;02/20/50 | 138681 |
| 222077 | Ginnie Mae II Pool MA6478 | 5.0000 | &nbsp;&nbsp;02/20/50 | 221818 |
| 223993 | Ginnie Mae II Pool MA6544 | 4.5000 | &nbsp;&nbsp;03/20/50 | 217587 |
| 157808 | Ginnie Mae II Pool MA6545 | 5.0000 | &nbsp;&nbsp;03/20/50 | 157640 |
| 940412 | Ginnie Mae II Pool MA6598 | 2.5000 | &nbsp;&nbsp;04/20/50 | 803375 |
| 230694 | Ginnie Mae II Pool MA6600 | 3.5000 | &nbsp;&nbsp;04/20/50 | 211260 |
| 194137 | Ginnie Mae II Pool MA6601 | 4.0000 | &nbsp;&nbsp;04/20/50 | 182176 |
| 179769 | Ginnie Mae II Pool MA6603 | 5.0000 | &nbsp;&nbsp;04/20/50 | 179536 |
| 841971 | Ginnie Mae II Pool MA7255 | 2.5000 | &nbsp;&nbsp;03/20/51 | 717391 |
| 622061 | Ginnie Mae II Pool MA7418 | 2.5000 | &nbsp;&nbsp;06/20/51 | 529848 |

---

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 60.4% (Continued)** |  |  |  |
|  | **AGENCY FIXED RATE — 38.1% (Continued)** |  |  |  |
| 1032390 | Ginnie Mae II Pool MA7419 | 3.0000 | &nbsp;&nbsp;06/20/51 | $914261 |
| 937572 | Ginnie Mae II Pool MA7472 | 2.5000 | &nbsp;&nbsp;07/20/51 | 798586 |
| 1103897 | Ginnie Mae II Pool CE1974 | 3.0000 | &nbsp;&nbsp;08/20/51 | 989184 |
| 1016463 | Ginnie Mae II Pool CE1990 | 2.5000 | &nbsp;&nbsp;09/20/51 | 865156 |
| 1105302 | Ginnie Mae II Pool MA7705 | 2.5000 | &nbsp;&nbsp;11/20/51 | 941443 |
| 1169821 | Ginnie Mae II Pool MA7768 | 3.0000 | &nbsp;&nbsp;12/20/51 | 1035243 |
| 883311 | Ginnie Mae II Pool MA7829 | 3.5000 | &nbsp;&nbsp;01/20/52 | 805983 |
| 858542 | Ginnie Mae II Pool MA7939 | 4.0000 | &nbsp;&nbsp;03/20/52 | 802506 |
| 979873 | Ginnie Mae II Pool MA7987 | 2.5000 | &nbsp;&nbsp;04/20/52 | 834603 |
| 930980 | Ginnie Mae II Pool MA8268 | 4.5000 | &nbsp;&nbsp;09/20/52 | 899228 |
| 953954 | Ginnie Mae II Pool MA8800 | 5.0000 | &nbsp;&nbsp;04/20/53 | 943016 |
| 1128067 | Ginnie Mae II Pool MA8874 | 3.0000 | &nbsp;&nbsp;05/20/53 | 1008016 |
| 1130735 | Ginnie Mae II Pool MA8943 | 3.0000 | &nbsp;&nbsp;06/20/53 | 1000615 |
| 857801 | Ginnie Mae II Pool MA9017 | 5.5000 | &nbsp;&nbsp;07/20/53 | 863545 |
| 900934 | Ginnie Mae II Pool MB0091 | 5.0000 | &nbsp;&nbsp;12/20/54 | 885812 |
| 219505 | Ginnie Mae II Pool MB0366 | 5.5000 | &nbsp;&nbsp;05/20/55 | 219929 |
|  |  |  |  | 42523841 |
|  | **U.S. TREASURY BILLS — 22.3%** |  |  |  |
| 2210000 | United States Treasury Note | 4.8750 | &nbsp;&nbsp;04/30/26 | 2224057 |
| 2030000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;04/30/29 | 2093675 |
| 520000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;04/30/31 | 539967 |
| 8930000 | United States Treasury Note | 4.3750 | &nbsp;&nbsp;05/15/34 | 9073368 |
| 3430000 | United States Treasury Note | 4.5000 | &nbsp;&nbsp;02/15/44 | 3319195 |
| 7925000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;05/15/54 | 7711706 |
|  |  |  |  | 24961968 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $71,046,366)** |  |  | 67485809 |

---

---

| |
|:---|
| **TIMOTHY PLAN FIXED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 2.0%** |  |
|  | **MONEY MARKET FUND - 2.0%** |  |
| 2231811 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $2,231,811) | $2231811 |
|  | **TOTAL INVESTMENTS - 99.4% (Cost $114,687,938)** | $111070789 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.6%** | 633547 |
|  | **NET ASSETS - 100.0%** | $111704336 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| SA | - Société Anonyme |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025, the total market value of 144A securities is 4,593,937 or 4.1% of net assets.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN GROWTH & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUND — 52.0%** |  |  |  |
|  | **EQUITY - 52.0%** |  |  |  |
| 255000 | Timothy Plan High Dividend Stock ETF<sup>(a)</sup> |  |  | $9639000 |
|  | **TOTAL EXCHANGE-TRADED FUND (Cost $8,730,563)** |  |  | 9639000 |
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** |  |
|  | **ASSET BACKED SECURITIES — 2.2%** |  |  |  |
|  | **CLO — 0.7%** |  |  |  |
| 135000 | Kubota Credit Owner Trust 2025-2 Series 2A A3<sup>(b)</sup> | 4.4200 | &nbsp;&nbsp;09/17/29 | 135422 |
|  | **OTHER ABS — 1.5%** |  |  |  |
| 85000 | CNH Equipment Trust 2025-A Series A A3 | 4.3600 | &nbsp;&nbsp;08/15/30 | 85572 |
| 180000 | John Deere Owner Trust 2025 Series A A3 | 4.2300 | &nbsp;&nbsp;09/17/29 | 180421 |
|  |  |  |  | 265993 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $399,980)** |  |  | 401415 |
|  | **CORPORATE BONDS — 10.9%** |  |  |  |
|  | **CHEMICALS — 0.8%** |  |  |  |
| 85000 | Nutrien Ltd. | 4.0000 | &nbsp;&nbsp;12/15/26 | 84458 |
| 60000 | Nutrien Ltd. | 2.9500 | &nbsp;&nbsp;05/13/30 | 55789 |
|  |  |  |  | 140247 |
|  | **COMMERCIAL SUPPORT SERVICES — 0.5%** |  |  |  |
| 35000 | Republic Services, Inc. | 5.0000 | &nbsp;&nbsp;04/01/34 | 35521 |
| 50000 | Waste Management, Inc. | 4.6250 | &nbsp;&nbsp;02/15/33 | 50084 |
|  |  |  |  | 85605 |
|  | **ELECTRIC UTILITIES — 1.1%** |  |  |  |
| 135000 | American Electric Power Company, Inc. | 3.2000 | &nbsp;&nbsp;11/13/27 | 131672 |
| 70000 | National Rural Utilities Cooperative Finance Corporation | 5.0500 | &nbsp;&nbsp;09/15/28 | 71600 |
|  |  |  |  | 203272 |
|  | **GAS & WATER UTILITIES — 0.7%** |  |  |  |
| 130000 | NiSource, Inc. | 3.4900 | &nbsp;&nbsp;05/15/27 | 127970 |

---

---

| |
|:---|
| **TIMOTHY PLAN GROWTH & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 10.9% (Continued)** |  |  |  |
|  | **INSTITUTIONAL FINANCIAL SERVICES — 0.3%** |  |  |  |
| 55000 | Cboe Global Markets, Inc. | 3.6500 | &nbsp;&nbsp;01/12/27 | $54548 |
|  | **MACHINERY — 0.6%** |  |  |  |
| 55000 | Caterpillar Financial Services Corporation | 4.3500 | &nbsp;&nbsp;05/15/26 | 55028 |
| 55000 | John Deere Capital Corporation | 3.9000 | &nbsp;&nbsp;06/07/32 | 52971 |
|  |  |  |  | 107999 |
|  | **METALS & MINING — 1.6%** |  |  |  |
| 75000 | BHP Billiton Finance USA Ltd. | 5.1250 | &nbsp;&nbsp;02/21/32 | 76793 |
| 85000 | BHP Billiton Finance USA Ltd. | 5.2500 | &nbsp;&nbsp;09/08/33 | 87042 |
| 70000 | Rio Tinto Finance USA plc | 5.0000 | &nbsp;&nbsp;03/14/32 | 71213 |
| 70000 | Rio Tinto Finance USA plc | 5.0000 | &nbsp;&nbsp;03/09/33 | 71000 |
|  |  |  |  | 306048 |
|  | **OIL & GAS PRODUCERS — 2.1%** |  |  |  |
| 115000 | Columbia Pipelines Holding Company, LLC<sup>(b)</sup> | 6.0420 | &nbsp;&nbsp;08/15/28 | 119667 |
| 70000 | Energy Transfer, L.P. | 5.6000 | &nbsp;&nbsp;09/01/34 | 71112 |
| 120000 | Energy Transfer, L.P. | 6.2500 | &nbsp;&nbsp;04/15/49 | 118528 |
| 70000 | Enterprise Products Operating, LLC | 5.3500 | &nbsp;&nbsp;01/31/33 | 72506 |
|  |  |  |  | 381813 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 1.5%** |  |  |  |
| 70000 | American Tower Corporation | 5.3500 | &nbsp;&nbsp;03/15/35 | 71231 |
| 95000 | Digital Realty Trust, L.P. | 3.7000 | &nbsp;&nbsp;08/15/27 | 93790 |
| 120000 | Healthpeak Properties, Inc. | 3.5000 | &nbsp;&nbsp;07/15/29 | 115839 |
|  |  |  |  | 280860 |
|  | **RETAIL - CONSUMER STAPLES — 0.5%** |  |  |  |
| 95000 | Dollar General Corporation | 4.1250 | &nbsp;&nbsp;05/01/28 | 94249 |
|  | **RETAIL - DISCRETIONARY — 0.6%** |  |  |  |
| 110000 | Tractor Supply Company | 5.2500 | &nbsp;&nbsp;05/15/33 | 112310 |
|  | **TRANSPORTATION & LOGISTICS — 0.6%** |  |  |  |
| 130000 | CSX Corporation | 3.2500 | &nbsp;&nbsp;06/01/27 | 127873 |
|  | **TOTAL CORPORATE BONDS (Cost $2,000,671)** |  |  | 2022794 |

---

---

| |
|:---|
| **TIMOTHY PLAN GROWTH & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **NON U.S. GOVERNMENT & AGENCIES — 1.8%** |  |  |  |
|  | **LOCAL AUTHORITY — 0.7%** |  |  |  |
| 135000 | Province of Ontario Canada | 2.5000 | &nbsp;&nbsp;04/27/26 | $133180 |
|  | **SOVEREIGN — 1.1%** |  |  |  |
| 200000 | Israel Government International Bond | 5.5000 | &nbsp;&nbsp;03/12/34 | 202322 |
|  | **TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $326,888)** |  |  | 335502 |
|  | **U.S. GOVERNMENT & AGENCIES — 32.4%** |  |  |  |
|  | **AGENCY FIXED RATE — 16.3%** |  |  |  |
| 88213 | Fannie Mae Pool FM5537 | 2.0000 | &nbsp;&nbsp;01/01/36 | 81060 |
| 56917 | Fannie Mae Pool MA4316 | 2.5000 | &nbsp;&nbsp;04/01/36 | 53261 |
| 17674 | Fannie Mae Pool MA4475 | 2.5000 | &nbsp;&nbsp;10/01/41 | 15768 |
| 51911 | Fannie Mae Pool MA4617 | 3.0000 | &nbsp;&nbsp;04/01/42 | 47257 |
| 40512 | Fannie Mae Pool FM4053 | 2.5000 | &nbsp;&nbsp;08/01/50 | 34078 |
| 45255 | Fannie Mae Pool CA8897 | 3.0000 | &nbsp;&nbsp;02/01/51 | 39807 |
| 6306 | Fannie Mae Pool MA4258 | 3.5000 | &nbsp;&nbsp;02/01/51 | 5741 |
| 17907 | Fannie Mae Pool FM6550 | 2.0000 | &nbsp;&nbsp;03/01/51 | 14403 |
| 33486 | Fannie Mae Pool CB0855 | 3.0000 | &nbsp;&nbsp;06/01/51 | 29223 |
| 55457 | Fannie Mae Pool FS3744 | 2.0000 | &nbsp;&nbsp;07/01/51 | 44227 |
| 86734 | Fannie Mae Pool FS1807 | 3.5000 | &nbsp;&nbsp;07/01/51 | 78981 |
| 127992 | Fannie Mae Pool CB1384 | 2.5000 | &nbsp;&nbsp;08/01/51 | 107438 |
| 61389 | Fannie Mae Pool FS9085 | 3.0000 | &nbsp;&nbsp;12/01/51 | 53287 |
| 28487 | Fannie Mae Pool BU1322 | 2.5000 | &nbsp;&nbsp;02/01/52 | 23927 |
| 90477 | Fannie Mae Pool CB3486 | 3.5000 | &nbsp;&nbsp;05/01/52 | 81780 |
| 60641 | Fannie Mae Pool FS1704 | 4.0000 | &nbsp;&nbsp;05/01/52 | 56853 |
| 83889 | Fannie Mae Pool FS3159 | 4.5000 | &nbsp;&nbsp;10/01/52 | 80669 |
| 76973 | Fannie Mae Pool FS4075 | 5.0000 | &nbsp;&nbsp;04/01/53 | 75994 |
| 88598 | Fannie Mae Pool FS5044 | 4.5000 | &nbsp;&nbsp;06/01/53 | 85723 |
| 128043 | Fannie Mae Pool MA5039 | 5.5000 | &nbsp;&nbsp;06/01/53 | 128239 |
| 86389 | Fannie Mae Pool FS8291 | 5.5000 | &nbsp;&nbsp;07/01/53 | 87068 |
| 81655 | Fannie Mae Pool FS6787 | 6.0000 | &nbsp;&nbsp;01/01/54 | 83836 |
| 90995 | Fannie Mae Pool CB7980 | 5.5000 | &nbsp;&nbsp;02/01/54 | 91579 |

---

---

| |
|:---|
| **TIMOTHY PLAN GROWTH & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 32.4% (Continued)** |  |  |  |
|  | **AGENCY FIXED RATE — 16.3% (Continued)** |  |  |  |
| 25428 | Fannie Mae Pool FS8138 | 6.5000 | &nbsp;&nbsp;06/01/54 | $26496 |
| 84831 | Fannie Mae Pool FS9456 | 5.5000 | &nbsp;&nbsp;11/01/54 | 85060 |
| 39562 | Ginnie Mae I Pool 723248 | 5.0000 | &nbsp;&nbsp;10/15/39 | 40085 |
| 40967 | Ginnie Mae I Pool 783403 | 3.5000 | &nbsp;&nbsp;09/15/41 | 38192 |
| 36900 | Ginnie Mae II Pool MA3376 | 3.5000 | &nbsp;&nbsp;01/20/46 | 34296 |
| 27337 | Ginnie Mae II Pool MA3596 | 3.0000 | &nbsp;&nbsp;04/20/46 | 24533 |
| 23359 | Ginnie Mae II Pool MA3663 | 3.5000 | &nbsp;&nbsp;05/20/46 | 21710 |
| 30440 | Ginnie Mae II Pool MA3736 | 3.5000 | &nbsp;&nbsp;06/20/46 | 28276 |
| 10351 | Ginnie Mae II Pool MA4509 | 3.0000 | &nbsp;&nbsp;06/20/47 | 9272 |
| 29144 | Ginnie Mae II Pool MA4652 | 3.5000 | &nbsp;&nbsp;08/20/47 | 26894 |
| 27299 | Ginnie Mae II Pool MA4719 | 3.5000 | &nbsp;&nbsp;09/20/47 | 25099 |
| 52314 | Ginnie Mae II Pool MA4778 | 3.5000 | &nbsp;&nbsp;10/20/47 | 48265 |
| 19541 | Ginnie Mae II Pool MA6092 | 4.5000 | &nbsp;&nbsp;08/20/49 | 18878 |
| 14849 | Ginnie Mae II Pool MA6156 | 4.5000 | &nbsp;&nbsp;09/20/49 | 14387 |
| 39696 | Ginnie Mae II Pool BN2662 | 3.0000 | &nbsp;&nbsp;10/20/49 | 35152 |
| 16224 | Ginnie Mae II Pool MA6221 | 4.5000 | &nbsp;&nbsp;10/20/49 | 15756 |
| 14352 | Ginnie Mae II Pool MA6478 | 5.0000 | &nbsp;&nbsp;02/20/50 | 14327 |
| 17341 | Ginnie Mae II Pool MA6544 | 4.5000 | &nbsp;&nbsp;03/20/50 | 16836 |
| 11123 | Ginnie Mae II Pool MA6545 | 5.0000 | &nbsp;&nbsp;03/20/50 | 11105 |
| 17918 | Ginnie Mae II Pool MA6600 | 3.5000 | &nbsp;&nbsp;04/20/50 | 16399 |
| 16178 | Ginnie Mae II Pool MA6601 | 4.0000 | &nbsp;&nbsp;04/20/50 | 15173 |
| 21465 | Ginnie Mae II Pool MA6603 | 5.0000 | &nbsp;&nbsp;04/20/50 | 21425 |
| 40507 | Ginnie Mae II Pool MA7255 | 2.5000 | &nbsp;&nbsp;03/20/51 | 34488 |
| 32913 | Ginnie Mae II Pool MA7418 | 2.5000 | &nbsp;&nbsp;06/20/51 | 28014 |
| 95969 | Ginnie Mae II Pool MA7419 | 3.0000 | &nbsp;&nbsp;06/20/51 | 84928 |
| 102281 | Ginnie Mae II Pool MA7472 | 2.5000 | &nbsp;&nbsp;07/20/51 | 87055 |
| 93551 | Ginnie Mae II Pool CE1974 | 3.0000 | &nbsp;&nbsp;08/20/51 | 83771 |
| 69959 | Ginnie Mae II Pool CE1990 | 2.5000 | &nbsp;&nbsp;09/20/51 | 59501 |
| 114829 | Ginnie Mae II Pool MA7768 | 3.0000 | &nbsp;&nbsp;12/20/51 | 101547 |
| 48046 | Ginnie Mae II Pool MA7829 | 3.5000 | &nbsp;&nbsp;01/20/52 | 43814 |
| 62640 | Ginnie Mae II Pool MA7939 | 4.0000 | &nbsp;&nbsp;03/20/52 | 58518 |
| 100416 | Ginnie Mae II Pool MA8800 | 5.0000 | &nbsp;&nbsp;04/20/53 | 99210 |
| 106869 | Ginnie Mae II Pool MA8874 | 3.0000 | &nbsp;&nbsp;05/20/53 | 95429 |
| 90616 | Ginnie Mae II Pool MA8943 | 3.0000 | &nbsp;&nbsp;06/20/53 | 80132 |

---

---

| |
|:---|
| **TIMOTHY PLAN GROWTH & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 32.4% (Continued)** |  |  |  |
|  | **AGENCY FIXED RATE — 16.3% (Continued)** |  |  |  |
| 84971 | Ginnie Mae II Pool MA9017 | 5.5000 | &nbsp;&nbsp;07/20/53 | $85493 |
| 68924 | Ginnie Mae II Pool MB0091 | 5.0000 | &nbsp;&nbsp;12/20/54 | 67745 |
| 24944 | Ginnie Mae II Pool MB0366 | 5.5000 | &nbsp;&nbsp;05/20/55 | 24984 |
|  |  |  |  | 3022444 |
|  | **U.S. TREASURY BILLS — 16.1%** |  |  |  |
| 325000 | United States Treasury Note | 4.8750 | &nbsp;&nbsp;04/30/26 | 327041 |
| 110000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;04/30/29 | 113425 |
| 675000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;04/30/31 | 700760 |
| 880000 | United States Treasury Note | 4.3750 | &nbsp;&nbsp;05/15/34 | 893852 |
| 320000 | United States Treasury Note | 4.5000 | &nbsp;&nbsp;02/15/44 | 309563 |
| 650000 | United States Treasury Note | 4.6250 | &nbsp;&nbsp;05/15/54 | 632303 |
|  |  |  |  | 2976944 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $6,185,796)** |  |  | 5999388 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENT — 0.6%** |  |  |  |
|  | **MONEY MARKET FUND - 0.6%** |  |  |  |
| 118800 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(c)</sup> (Cost $118,800) |  |  | 118800 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $17,762,698)** |  |  | $18516899 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** |  |  | 20983 |
|  | **NET ASSETS - 100.0%** |  |  | $18537882 |

---

---

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

---

<sup>(a)</sup> Investment in affiliate.

<sup>(b)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025, the total market value of 144A securities is 255,089 or 1.4% of net assets.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<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 | $1185358 |
| 2000000 | TransDigm, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/29 | 2052279 |
| 1250000 | TransDigm, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;12/15/30 | 1299151 |
|  |  |  |  |  | 4536788 |
|  | **APPAREL & TEXTILE PRODUCTS — 0.1%** |  |  |  |  |
| 300000 | Beach Acquisition Bidco, LLC<sup>(a)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.0000 | &nbsp;&nbsp;07/15/33 | 311613 |
|  | **ASSET MANAGEMENT — 0.7%** |  |  |  |  |
| 1600000 | AG TTMT Escrow Issuer, LLC<sup>(a)</sup> |  | 8.6250 | &nbsp;&nbsp;09/30/27 | 1657854 |
|  | **AUTOMOTIVE — 6.6%** |  |  |  |  |
| 3500000 | Adient Global Holdings Ltd.<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;04/15/31 | 3680704 |
| 2705000 | Adient Global Holdings Ltd.<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;02/15/33 | 2768508 |
| 5620000 | Aptiv plc / Aptiv Global Financing DAC<sup>(b)</sup> | H15T5Y + 3.385% | 6.8750 | &nbsp;&nbsp;12/15/54 | 5683366 |
| 2500000 | Goodyear Tire & Rubber Company (The) |  | 5.6250 | &nbsp;&nbsp;04/30/33 | 2391487 |
|  |  |  |  |  | 14524065 |
|  | **CHEMICALS — 8.2%** |  |  |  |  |
| 1750000 | Avient Corporation<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;08/01/30 | 1810062 |
| 1145000 | Avient Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;11/01/31 | 1155887 |
| 1000000 | Axalta Coating Systems, LLC<sup>(a)</sup> |  | 3.3750 | &nbsp;&nbsp;02/15/29 | 946587 |
| 2500000 | Chemours Company (The)<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;11/15/29 | 2177995 |
| 2565000 | Chemours Company (The)<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;01/15/33 | 2403758 |
| 1860000 | INEOS Finance plc<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;04/15/29 | 1868536 |
| 5065000 | Mativ Holdings, Inc.<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;10/01/29 | 4594925 |
| 2500000 | WR Grace Holdings, LLC<sup>(a)</sup> |  | 5.6250 | &nbsp;&nbsp;08/15/29 | 2263313 |
| 1000000 | WR Grace Holdings, LLC<sup>(a)</sup> |  | 7.3750 | &nbsp;&nbsp;03/01/31 | 1024265 |
|  |  |  |  |  | 18245328 |
|  | **COMMERCIAL SUPPORT SERVICES — 9.3%** |  |  |  |  |
| 2310000 | Allied Universal Holdco, LLC<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;02/15/31 | 2416399 |
| 2325000 | Allied Universal Holdco, LLC / Allied Universal Finance Corporation<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;06/15/30 | 2359153 |
| 125000 | Allied Universal Holdco, LLC/Allied Universal Finance Corporation<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;06/01/28 | 121301 |
| 1625000 | Clean Harbors, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;02/01/31 | 1665711 |
| 1750000 | Covanta Holding Corporation |  | 5.0000 | &nbsp;&nbsp;09/01/30 | 1657670 |
| 5600000 | Enviri Corporation<sup>(a)</sup> |  | 5.7500 | &nbsp;&nbsp;07/31/27 | 5532029 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **COMMERCIAL SUPPORT SERVICES — 9.3% (Continued)** |  |  |  |  |
| 1500000 | GFL Environmental, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;01/15/31 | $1571556 |
| 1000000 | VT Topco, Inc.<sup>(a)</sup> |  | 8.5000 | &nbsp;&nbsp;08/15/30 | 1055106 |
| 3225000 | Waste Pro USA, Inc.<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;02/01/33 | 3355155 |
| 1000000 | Williams Scotsman, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;06/15/29 | 1027173 |
|  |  |  |  |  | 20761253 |
|  | **CONSTRUCTION MATERIALS — 0.5%** |  |  |  |  |
| 660000 | Quikrete Holdings, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/32 | 680098 |
| 335000 | Standard Industries, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;08/15/32 | 343487 |
|  |  |  |  |  | 1023585 |
|  | **CONSUMER SERVICES — 3.1%** |  |  |  |  |
| 3592000 | PROG Holdings, Inc.<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;11/15/29 | 3452214 |
| 3500000 | Upbound Group, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;02/15/29 | 3446229 |
|  |  |  |  |  | 6898443 |
|  | **CONTAINERS & PACKAGING — 5.9%** |  |  |  |  |
| 875000 | Ardagh Metal Packaging Finance USA, LLC / Ardagh Metal Packaging Finance plc<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;06/15/27 | 878310 |
| 2500000 | Ardagh Metal Packaging Finance USA, LLC / Ardagh Metal Packaging Finance plc<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;09/01/29 | 2284840 |
| 1000000 | Canpack S.A. / Canpack US, LLC<sup>(a)</sup> |  | 3.8750 | &nbsp;&nbsp;11/15/29 | 935691 |
| 500000 | Graham Packaging Company, Inc.<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;08/15/28 | 499471 |
| 1250000 | Graphic Packaging International, LLC<sup>(a)</sup> |  | 3.7500 | &nbsp;&nbsp;02/01/30 | 1172569 |
| 1250000 | LABL, Inc.<sup>(a)</sup> |  | 5.8750 | &nbsp;&nbsp;11/01/28 | 1095445 |
| 625000 | LABL, Inc.<sup>(a)</sup> |  | 9.5000 | &nbsp;&nbsp;11/01/28 | 578593 |
| 1000000 | LABL, Inc.<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;11/01/29 | 831979 |
| 2550000 | Mauser Packaging Solutions Holding Company<sup>(a)</sup> |  | 7.8750 | &nbsp;&nbsp;04/15/27 | 2595443 |
| 1750000 | TriMas Corporation<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;04/15/29 | 1662793 |
| 300000 | Trivium Packaging Finance BV<sup>(a)</sup> |  | 8.2500 | &nbsp;&nbsp;07/15/30 | 317470 |
| 300000 | Trivium Packaging Finance BV<sup>(a)</sup> |  | 12.2500 | &nbsp;&nbsp;01/15/31 | 321811 |
|  |  |  |  |  | 13174415 |
|  | **ELECTRIC UTILITIES — 2.4%** |  |  |  |  |
| 2910000 | Alpha Generation, LLC<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;10/15/32 | 3000291 |
| 2000000 | Vistra Corporation<sup>(a)(b)</sup> | H15T5Y + 5.740% | 7.0000 | &nbsp;&nbsp;06/15/70 | 2025356 |
| 250000 | Vistra Operations Company, LLC<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;05/01/29 | 243856 |
|  |  |  |  |  | 5269503 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **ELECTRICAL EQUIPMENT — 2.5%** |  |  |  |  |
| 1000000 | BWX Technologies, Inc.<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;06/30/28 | $975549 |
| 1000000 | BWX Technologies, Inc.<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;04/15/29 | 964880 |
| 700000 | Gates Corporation (The)<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;07/01/29 | 727732 |
| 1360000 | WESCO Distribution, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/15/29 | 1401030 |
| 1360000 | WESCO Distribution, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;03/15/32 | 1409257 |
|  |  |  |  |  | 5478448 |
|  | **HEALTH CARE FACILITIES & SERVICES — 3.2%** |  |  |  |  |
| 1835000 | Concentra Escrow Issuer Corporation<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;07/15/32 | 1902186 |
| 2820000 | HAH Group Holding Company, LLC<sup>(a)</sup> |  | 9.7500 | &nbsp;&nbsp;10/01/31 | 2797802 |
| 1750000 | Pediatrix Medical Group, Inc.<sup>(a)</sup> |  | 5.3750 | &nbsp;&nbsp;02/15/30 | 1728992 |
| 750000 | Tenet Healthcare Corporation |  | 6.1250 | &nbsp;&nbsp;10/01/28 | 751401 |
|  |  |  |  |  | 7180381 |
|  | **HOME CONSTRUCTION — 4.4%** |  |  |  |  |
| 500000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;01/15/28 | 502344 |
| 1750000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;08/01/29 | 1674538 |
| 1000000 | Ashton Woods USA, LLC / Ashton Woods Finance Company<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;04/01/30 | 954627 |
| 4042000 | Interface, Inc.<sup>(a)</sup> |  | 5.5000 | &nbsp;&nbsp;12/01/28 | 3987516 |
| 680000 | STL Holding Company, LLC<sup>(a)</sup> |  | 8.7500 | &nbsp;&nbsp;02/15/29 | 712939 |
| 2023000 | Weekley Homes, LLC / Weekley Finance Corporation<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;09/15/28 | 1957869 |
|  |  |  |  |  | 9789833 |
|  | **HOUSEHOLD PRODUCTS — 0.5%** |  |  |  |  |
| 1000000 | Energizer Holdings, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;12/31/27 | 1012321 |
|  | **INSTITUTIONAL FINANCIAL SERVICES — 0.9%** |  |  |  |  |
| 1750000 | Aretec Group, Inc.<sup>(a)</sup> |  | 10.0000 | &nbsp;&nbsp;08/15/30 | 1925430 |
|  | **INSURANCE — 2.3%** |  |  |  |  |
| 1000000 | Acrisure, LLC / Acrisure Finance, Inc.<sup>(a)</sup> |  | 7.5000 | &nbsp;&nbsp;11/06/30 | 1033659 |
| 1000000 | Acrisure, LLC / Acrisure Finance, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;07/01/32 | 1014896 |
| 1075000 | Baldwin Insurance Group Holdings, LLC / Baldwin Insurance Group Holdings Finance<sup>(a)</sup> |  | 7.1250 | &nbsp;&nbsp;05/15/31 | 1118197 |
| 1000000 | HUB International Ltd.<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;06/15/30 | 1045355 |
| 1000000 | Ryan Specialty, LLC<sup>(a)</sup> |  | 5.8750 | &nbsp;&nbsp;08/01/32 | 1008505 |
|  |  |  |  |  | 5220612 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **MACHINERY — 0.7%** |  |  |  |  |
| 1000000 | Esab Corporation<sup>(a)</sup> |  | 6.2500 | 04/15/29 | $1025121 |
| 500000 | SPX FLOW, Inc.<sup>(a)</sup> |  | 8.7500 | 04/01/30 | 519553 |
|  |  |  |  |  | 1544674 |
|  | **MEDICAL EQUIPMENT & DEVICES — 1.7%** |  |  |  |  |
| 750000 | Bausch & Lomb Escrow Corporation<sup>(a)</sup> |  | 8.3750 | 10/01/28 | 783750 |
| 325000 | Insulet Corporation<sup>(a)</sup> |  | 6.5000 | 04/01/33 | 337915 |
| 2500000 | Sotera Health Holdings, LLC<sup>(a)</sup> |  | 7.3750 | 06/01/31 | 2604232 |
|  |  |  |  |  | 3725897 |
|  | **METALS & MINING — 0.8%** |  |  |  |  |
| 2000000 | Kaiser Aluminum Corporation<sup>(a)</sup> |  | 4.5000 | 06/01/31 | 1871625 |
|  | **OIL & GAS PRODUCERS — 7.0%** |  |  |  |  |
| 2022000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC<sup>(a)</sup> |  | 5.5000 | 06/15/31 | 1999328 |
| 2000000 | CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC<sup>(a)</sup> |  | 7.5000 | 12/15/33 | 2177988 |
| 500000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 7.7500 | 02/01/28 | 507758 |
| 600000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 8.2500 | 01/15/29 | 627805 |
| 750000 | Genesis Energy, L.P. / Genesis Energy Finance Corporation |  | 8.8750 | 04/15/30 | 797102 |
| 3500000 | Global Partners, L.P. / GLP Finance Corporation<sup>(a)</sup> |  | 8.2500 | 01/15/32 | 3682825 |
| 2075000 | ITT Holdings, LLC<sup>(a)</sup> |  | 6.5000 | 08/01/29 | 1975043 |
| 2000000 | NuStar Logistics, L.P. |  | 5.6250 | 04/28/27 | 2018502 |
| 1750000 | Permian Resources Operating, LLC<sup>(a)</sup> |  | 5.8750 | 07/01/29 | 1757903 |
| 100000 | Permian Resources Operating, LLC<sup>(a)</sup> |  | 7.0000 | 01/15/32 | 103730 |
|  |  |  |  |  | 15647984 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 1.5%** |  |  |  |  |
| 1170000 | MPT Operating Partnership, L.P. / MPT Finance Corporation<sup>(a)</sup> |  | 8.5000 | 02/15/32 | 1224502 |
| 750000 | Service Properties Trust |  | 5.5000 | 12/15/27 | 743567 |
| 1375000 | Service Properties Trust<sup>(a)</sup> |  | 8.6250 | 11/15/31 | 1477043 |
|  |  |  |  |  | 3445112 |
|  | **REAL ESTATE OWNERS & DEVELOPERS — 2.0%** |  |  |  |  |
| 1500000 | Greystar Real Estate Partners, LLC<sup>(a)</sup> |  | 7.7500 | 09/01/30 | 1593162 |
| 2999000 | Howard Hughes Corporation (The)<sup>(a)</sup> |  | 4.3750 | 02/01/31 | 2769416 |
|  |  |  |  |  | 4362578 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **REAL ESTATE SERVICES — 0.5%** |  |  |  |  |
| 1000000 | Newmark Group, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01/12/29 | $1058478 |
|  | **RETAIL - CONSUMER STAPLES — 0.5%** |  |  |  |  |
| 1250000 | Ingles Markets, Inc.<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;06/15/31 | 1163323 |
|  | **RETAIL - DISCRETIONARY — 4.7%** |  |  |  |  |
| 1250000 | Builders FirstSource, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;03/01/34 | 1275289 |
| 1618000 | Champions Financing, Inc.<sup>(a)</sup> |  | 8.7500 | &nbsp;&nbsp;02/15/29 | 1563869 |
| 1065000 | Cougar JV Subsidiary, LLC<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;05/15/32 | 1135674 |
| 2000000 | Ken Garff Automotive, LLC<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;09/15/28 | 1977229 |
| 1000000 | Lithia Motors, Inc.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;01/15/31 | 951229 |
| 1600000 | Queen MergerCo, Inc.<sup>(a)</sup> |  | 6.7500 | &nbsp;&nbsp;04/30/32 | 1651443 |
| 2050000 | Sonic Automotive, Inc.<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;11/15/31 | 1949507 |
|  |  |  |  |  | 10504240 |
|  | **SOFTWARE — 0.5%** |  |  |  |  |
| 1000000 | UKG, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;02/01/31 | 1038198 |
|  | **SPECIALTY FINANCE — 14.1%** |  |  |  |  |
| 1000000 | AerCap Ireland Capital DAC / Aercap Global Aviation Trust<sup>(b)</sup> | H15T5Y + 2.720% | 6.9500 | &nbsp;&nbsp;03/10/55 | 1040432 |
| 3000000 | Air Lease Corporation<sup>(b)</sup> | H15T5Y + 4.076% | 4.6500 | &nbsp;&nbsp;06/15/70 | 2990207 |
| 500000 | Burford Capital Global Finance, LLC<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;04/15/28 | 495711 |
| 3710000 | Burford Capital Global Finance, LLC<sup>(a)</sup> |  | 9.2500 | &nbsp;&nbsp;07/01/31 | 3908333 |
| 500000 | Freedom Mortgage Corporation<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;01/15/27 | 501678 |
| 1000000 | Freedom Mortgage Corporation<sup>(a)</sup> |  | 12.0000 | &nbsp;&nbsp;10/01/28 | 1074076 |
| 2000000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 9.1250 | &nbsp;&nbsp;05/15/31 | 2066938 |
| 330000 | Freedom Mortgage Holdings, LLC<sup>(a)</sup> |  | 8.3750 | &nbsp;&nbsp;04/01/32 | 331940 |
| 2955000 | ILFC E-Capital Trust I<sup>(a)(b)</sup> | TSFR3M + 1.812% | 6.4300 | &nbsp;&nbsp;12/21/65 | 2478179 |
| 2000000 | ILFC E-Capital Trust II<sup>(a)(b)</sup> | TSFR3M + 2.062% | 6.6800 | &nbsp;&nbsp;12/21/65 | 1708920 |
| 2170000 | Jefferies Finance, LLC / JFIN Co-Issuer Corporation<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;10/15/31 | 2164137 |
| 1000000 | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corporation<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;07/15/31 | 1047262 |
| 2000000 | PennyMac Financial Services, Inc.<sup>(a)</sup> |  | 6.8750 | &nbsp;&nbsp;05/15/32 | 2041031 |
| 1150000 | Rithm Capital Corporation<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;07/15/30 | 1167210 |
| 1000000 | Rithm Capital Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;10/15/25 | 1004287 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Spread** | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 91.8% (Continued)** |  |  |  |  |
|  | **SPECIALTY FINANCE — 14.1% (Continued)** |  |  |  |  |
| 4050000 | Rithm Capital Corporation<sup>(a)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;04/01/29 | $4094286 |
| 820000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/15/30 | 829365 |
| 1000000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;07/01/30 | 1033767 |
| 655000 | Starwood Property Trust, Inc.<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;10/15/30 | 677888 |
| 655000 | Walker & Dunlop, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;&nbsp;04/01/33 | 673816 |
|  |  |  |  |  | 31329463 |
|  | **STEEL — 2.3%** |  |  |  |  |
| 1500000 | Commercial Metals Company |  | 4.3750 | &nbsp;&nbsp;&nbsp;03/15/32 | 1382437 |
| 4004000 | TMS International Corporation<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;&nbsp;04/15/29 | 3805306 |
|  |  |  |  |  | 5187743 |
|  | **TECHNOLOGY HARDWARE — 1.1%** |  |  |  |  |
| 550000 | Ciena Corporation<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/31/30 | 521324 |
| 1000000 | TTM Technologies, Inc.<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/01/29 | 953534 |
| 1000000 | Zebra Technologies Corporation<sup>(a)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;06/01/32 | 1028959 |
|  |  |  |  |  | 2503817 |
|  | **TECHNOLOGY SERVICES — 0.9%** |  |  |  |  |
| 995000 | CACI International, Inc.<sup>(a)</sup> |  | 6.3750 | &nbsp;&nbsp;&nbsp;06/15/33 | 1026900 |
| 1000000 | Insight Enterprises, Inc.<sup>(a)</sup> |  | 6.6250 | &nbsp;&nbsp;&nbsp;05/15/32 | 1031051 |
|  |  |  |  |  | 2057951 |
|  | **TRANSPORTATION & LOGISTICS — 0.3%** |  |  |  |  |
| 660000 | Stonepeak Nile Parent, LLC<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;03/15/32 | 700127 |
|  | **WHOLESALE - CONSUMER STAPLES — 0.6%** |  |  |  |  |
| 1280000 | KeHE Distributors, LLC / KeHE Finance Corporation / NextWave Distribution, Inc.<sup>(a)</sup> |  | 9.0000 | &nbsp;&nbsp;&nbsp;02/15/29 | 1327021 |
|  | **TOTAL CORPORATE BONDS (Cost $200,078,867)** |  |  |  | 204478103 |

---

---

| |
|:---|
| **TIMOTHY PLAN HIGH YIELD BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 6.8%** |  |
|  | **MONEY MARKET FUND - 6.8%** |  |
| 15236600 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(c)</sup> (Cost $15,236,600) | $15236600 |
|  | **TOTAL INVESTMENTS - 98.6% (Cost $215,315,467)** | $219714703 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.4%** | 3229066 |
|  | **NET ASSETS - 100.0%** | $222943769 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| TSFR3M | Term SOFR Secured Overnight Financing Rate 3 Month |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025, the total market value of 144A securities is 182,827,891 or 82.0% of net assets.

<sup>(b)</sup> Variable rate security; the rate shown represents the rate on June 30, 2025.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 96.3%** |  |
|  | **AEROSPACE & DEFENSE - 6.3%** |  |
| 82000 | Safran S.A. - ADR | $6696940 |
| 92200 | Thales S.A. - ADR | 5433346 |
|  |  | 12130286 |
|  | **APPAREL & TEXTILE PRODUCTS - 2.1%** |  |
| 219000 | Cie Financiere Richemont S.A. - ADR | 4123770 |
|  | **BANKING - 15.6%** |  |
| 38922 | DBS Group Holdings Ltd. - ADR | 5508630 |
| 15600 | HDFC Bank Ltd. - ADR | 1196052 |
| 70100 | ICICI Bank Ltd. - ADR | 2358164 |
| 439000 | Itau Unibanco Holding S.A. - ADR | 2980810 |
| 96700 | KBC Group N.V. - ADR | 4979083 |
| 700000 | Lloyds Banking Group plc - ADR | 2975000 |
| 309000 | Sumitomo Mitsui Financial Group, Inc. - ADR | 4668990 |
| 161000 | UniCredit SpA - ADR | 5380620 |
|  |  | 30047349 |
|  | **BIOTECH & PHARMA - 2.8%** |  |
| 5900 | Argenx S.E. - ADR<sup>(a)</sup> | 3252198 |
| 100000 | Genmab A/S - ADR<sup>(a)</sup> | 2066000 |
|  |  | 5318198 |
|  | **CHEMICALS - 2.4%** |  |
| 109362 | Air Liquide S.A. - ADR | 4516651 |
|  | **CONSTRUCTION MATERIALS - 2.7%** |  |
| 57000 | CRH plc | 5232600 |
|  | **DIVERSIFIED INDUSTRIALS - 2.1%** |  |
| 138000 | Hitachi Ltd. - ADR | 4010280 |
|  | **ELECTRIC UTILITIES - 3.6%** |  |
| 438000 | Enel - Societa per Azioni - ADR | 4152240 |
| 35200 | Iberdrola SA - ADR | 2709696 |
|  |  | 6861936 |

---

---

| |
|:---|
| **TIMOTHY PLAN INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 96.3% (Continued)** |  |
|  | **ELECTRICAL EQUIPMENT - 2.6%** |  |
| 84000 | ABB Ltd. - ADR | $5012280 |
|  | **ENGINEERING & CONSTRUCTION - 3.5%** |  |
| 63000 | Cellnex Telecom S.A. - ADR | 1222830 |
| 149000 | Vinci S.A. - ADR | 5496595 |
|  |  | 6719425 |
|  | **HOUSEHOLD PRODUCTS - 2.1%** |  |
| 248000 | Haleon plc - ADR | 2571760 |
| 408000 | Unicharm Corporation - ADR | 1468800 |
|  |  | 4040560 |
|  | **INDUSTRIAL SUPPORT SERVICES - 1.3%** |  |
| 9500 | Ashtead Group plc - ADR | 2460120 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.7%** |  |
| 143000 | London Stock Exchange Group plc - ADR | 5270980 |
|  | **INSURANCE - 4.7%** |  |
| 297000 | Muenchener Rueckversicherungs-Gesellschaft A.G. - ADR | 3866940 |
| 120000 | Tokio Marine Holdings, Inc. - ADR | 5084400 |
|  |  | 8951340 |
|  | **INTERNET MEDIA & SERVICES - 5.5%** |  |
| 96500 | Nebius Group N.V., Class A<sup>(a)</sup> | 5339345 |
| 472181 | Prosus N.V. - ADR | 5255375 |
|  |  | 10594720 |
|  | **MACHINERY - 3.7%** |  |
| 244000 | Atlas Copco A.B. - ADR | 3457480 |
| 66150 | Techtronic Industries Company Ltd. - ADR | 3657434 |
|  |  | 7114914 |
|  | **MEDICAL EQUIPMENT & DEVICES - 5.9%** |  |
| 62500 | Alcon, Inc. | 5517500 |
| 34000 | Hoya Corporation - ADR | 4048040 |
| 55400 | Smith & Nephew plc - ADR | 1696902 |
|  |  | 11262442 |

---

---

| |
|:---|
| **TIMOTHY PLAN INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 96.3% (Continued)** |  |
|  | **METALS & MINING - 0.6%** |  |
| 20300 | Rio Tinto plc - ADR | $1184099 |
|  | **OIL & GAS PRODUCERS - 4.6%** |  |
| 142600 | Canadian Natural Resources Ltd. | 4477640 |
| 135000 | Equinor ASA - ADR | 3393900 |
| 81500 | Petroleo Brasileiro S.A. - ADR | 1019565 |
|  |  | 8891105 |
|  | **SEMICONDUCTORS - 8.3%** |  |
| 7500 | ASM International N.V. - ADR | 4806975 |
| 9300 | NXP Semiconductors N.V. | 2031957 |
| 38000 | STMicroelectronics N.V. - ADR | 1155580 |
| 26800 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 6069932 |
| 19292 | Tokyo Electron Ltd. - ADR | 1854540 |
|  |  | 15918984 |
|  | **SPECIALTY FINANCE - 1.4%** |  |
| 123000 | ORIX Corporation - ADR | 2769960 |
|  | **TECHNOLOGY HARDWARE - 2.1%** |  |
| 366328 | FUJIFILM Holdings Corporation - ADR | 3952679 |
|  | **TECHNOLOGY SERVICES - 3.1%** |  |
| 52500 | Amadeus IT Group S.A. - ADR | 4443600 |
| 86000 | Infosys Ltd. - ADR | 1593580 |
|  |  | 6037180 |
|  | **TRANSPORTATION & LOGISTICS - 4.6%** |  |
| 63000 | Canadian Pacific Kansas City Ltd. | 4994010 |
| 68000 | Ryanair Holdings plc - ADR | 3921560 |
|  |  | 8915570 |
|  | **WHOLESALE - CONSUMER STAPLES - 2.0%** |  |
| 37100 | ITOCHU Corporation - ADR | 3885483 |
|  | **TOTAL COMMON STOCKS (Cost $118,691,190)** | 185222911 |

---

---

| |
|:---|
| **TIMOTHY PLAN INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 3.3%** |  |
|  | **MONEY MARKET FUND - 3.3%** |  |
| 6293195 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $6,293,195) | $6293195 |
|  | **TOTAL INVESTMENTS - 99.6% (Cost $124,984,385)** | $191516106 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.4%** | 760337 |
|  | **NET ASSETS - 100.0%** | $192276443 |

---

---

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

---

---

| |
|:---|
| **TIMOTHY PLAN INTERNATIONAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

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

---

---

| |
|:---|
| **TIMOTHY PLAN ISRAEL COMMON VALUES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6%** |  |
|  | **AEROSPACE & DEFENSE - 8.5%** |  |
| 17101 | Elbit Systems Ltd. | $7686900 |
| 97000 | Leonardo DRS, Inc. | 4508560 |
|  |  | 12195460 |
|  | **APPAREL & TEXTILE PRODUCTS - 2.5%** |  |
| 23816 | Delta Galil Ltd. | 1264304 |
| 23000 | Fox Wizel Ltd. | 2302663 |
|  |  | 3566967 |
|  | **BANKING - 16.3%** |  |
| 478000 | Bank Leumi Le-Israel BM | 8887017 |
| 45300 | First International Bank Of Israel Ltd. | 3277697 |
| 527000 | Israel Discount Bank Ltd., Class A | 5251067 |
| 95000 | Mizrahi Tefahot Bank Ltd. | 6191176 |
|  |  | 23606957 |
|  | **CHEMICALS - 1.2%** |  |
| 247902 | ICL Group Ltd. | 1705566 |
|  | **ELECTRIC UTILITIES - 1.1%** |  |
| 19400 | Ormat Technologies, Inc. | 1624974 |
|  | **ELECTRICAL EQUIPMENT - 1.8%** |  |
| 31400 | Camtek Ltd.<sup>(a)</sup> | 2655184 |
|  | **ENGINEERING & CONSTRUCTION - 0.6%** |  |
| 167173 | Shikun & Binui Ltd.<sup>(a)</sup> | 838818 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.7%** |  |
| 12769 | Danel Adir Yeoshua Ltd. | 1823547 |
| 1575013 | Novolog Ltd. | 659821 |
|  |  | 2483368 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 4.9%** |  |
| 365194 | Tel Aviv Stock Exchange Ltd. | 7058617 |
|  | **INSURANCE - 6.9%** |  |
| 80000 | Harel Insurance Investments & Financial Services Ltd. | 2240314 |

---

---

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

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **INSURANCE - 6.9% (Continued)** |  |
| 693628 | Migdal Insurance & Financial Holdings Ltd. | $1909274 |
| 199400 | Phoenix Financial Ltd. (The) | 5769285 |
|  |  | 9918873 |
|  | **LEISURE FACILITIES & SERVICES - 1.7%** |  |
| 13735 | Fattal Holdings 1998 Ltd.<sup>(a)</sup> | 2384795 |
|  | **MEDICAL EQUIPMENT & DEVICES - 0.6%** |  |
| 62326 | Brainsway Ltd. - ADR<sup>(a)</sup> | 819587 |
|  | **OIL & GAS PRODUCERS - 7.4%** |  |
| 104968 | Energean plc | 1313253 |
| 102000 | Energean plc | 1293738 |
| 5600 | Israel Corp Ltd. (The) | 1868329 |
| 1100000 | Isramco Negev 2, L.P. | 750839 |
| 350000 | Newmed Energy, L.P. | 1720852 |
| 8000 | Paz Oil Company Ltd. | 1462427 |
| 1600000 | Ratio Energies Finance, L.P. | 2298743 |
|  |  | 10708181 |
|  | **REAL ESTATE INVESTMENT TRUSTS - 3.5%** |  |
| 12000 | Big Shopping Centers Ltd.<sup>(a)</sup> | 2297675 |
| 399000 | Reit 1 Ltd. | 2678480 |
|  |  | 4976155 |
|  | **REAL ESTATE OWNERS & DEVELOPERS - 11.3%** |  |
| 312000 | Amot Investments Ltd. | 2112978 |
| 44000 | Azrieli Group Ltd. | 4045841 |
| 40000 | Elco Ltd. | 2208961 |
| 117674 | G City Ltd. | 466070 |
| 160000 | Gav-Yam Lands Corporation Ltd. | 1750542 |
| 27380 | Melisron Ltd. | 3121563 |
| 703430 | Mivne Real Estate KD Ltd. | 2635696 |
|  |  | 16341651 |
|  | **RENEWABLE ENERGY - 0.8%** |  |
| 296360 | Energix-Renewable Energies Ltd. | 1094598 |

---

---

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

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.6% (Continued)** |  |
|  | **RETAIL - CONSUMER STAPLES - 2.8%** |  |
| 18700 | Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. | $1804985 |
| 195000 | Shufersal Ltd. | 2240002 |
|  |  | 4044987 |
|  | **SEMICONDUCTORS - 6.2%** |  |
| 23000 | Nova Ltd.<sup>(a)</sup> | 6329600 |
| 60323 | Tower Semiconductor Ltd.<sup>(a)</sup> | 2615002 |
|  |  | 8944602 |
|  | **SOFTWARE - 15.0%** |  |
| 13400 | CyberArk Software Ltd.<sup>(a)</sup> | 5452192 |
| 29935 | Hilan Ltd. | 2542800 |
| 57000 | Mobileye Global, Inc., Class A<sup>(a)</sup> | 1024860 |
| 9500 | Monday.com Ltd.<sup>(a)</sup> | 2987560 |
| 17100 | Nice Ltd. - ADR<sup>(a)</sup> | 2888361 |
| 25000 | Oddity Tech Ltd.<sup>(a)</sup> | 1886750 |
| 41000 | One Software Technologies Ltd. | 1056619 |
| 50300 | Sapiens International Corporation N.V. | 1471275 |
| 46200 | Varonis Systems, Inc.<sup>(a)</sup> | 2344650 |
|  |  | 21655067 |
|  | **TECHNOLOGY HARDWARE - 0.9%** |  |
| 35348 | Next Vision Stabilized Systems Ltd. | 1319214 |
|  | **TECHNOLOGY SERVICES - 2.3%** |  |
| 72783 | Magic Software Enterprises Ltd. | 1391611 |
| 56210 | Matrix IT Ltd. | 1955943 |
|  |  | 3347554 |
|  | **WHOLESALE - DISCRETIONARY - 0.6%** |  |
| 17300 | Tadiran Group Ltd. | 924557 |
|  | **TOTAL COMMON STOCKS (Cost $51,892,595)** | 142215732 |

---

---

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

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 1.5%** |  |
|  | **MONEY MARKET FUND - 1.5%** |  |
| 2156666 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $2,156,666) | $2156666 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $54,049,261)** | $144372398 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | (94174) |
|  | **NET ASSETS - 100.0%** | $144278224 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| NV | - Naamioze Vennootschap |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security. <br><sup>(a)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

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

---

---

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

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 86.4%** |  |
|  | **AEROSPACE & DEFENSE - 1.5%** |  |
| 2475 | TransDigm Group, Inc. | $3763584 |
|  | **APPAREL & TEXTILE PRODUCTS - 0.5%** |  |
| 23205 | On Holding A.G., Class A<sup>(a)</sup> | 1207820 |
|  | **ASSET MANAGEMENT - 0.9%** |  |
| 55676 | Blue Owl Capital, Inc. | 1069536 |
| 3421 | LPL Financial Holdings, Inc. | 1282772 |
|  |  | 2352308 |
|  | **AUTOMOTIVE - 3.0%** |  |
| 23395 | Tesla, Inc.<sup>(a)</sup> | 7431656 |
|  | **BIOTECH & PHARMA - 1.2%** |  |
| 19693 | Zoetis, Inc. | 3071123 |
|  | **CHEMICALS - 3.4%** |  |
| 11829 | Linde plc | 5549931 |
| 8654 | Sherwin-Williams Company (The) | 2971437 |
|  |  | 8521368 |
|  | **COMMERCIAL SUPPORT SERVICES - 2.6%** |  |
| 16200 | Cintas Corporation | 3610494 |
| 13641 | Waste Management, Inc. | 3121334 |
|  |  | 6731828 |
|  | **CONSTRUCTION MATERIALS - 0.9%** |  |
| 4192 | Martin Marietta Materials, Inc. | 2301240 |
|  | **ELECTRICAL EQUIPMENT - 1.8%** |  |
| 47589 | Amphenol Corporation, Class A | 4699414 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.7%** |  |
| 4278 | HCA Healthcare, Inc. | 1638902 |

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 86.4% (Continued)** |  |
|  | **INDUSTRIAL REIT - 0.9%** |  |
| 21991 | Prologis, Inc. | $2311694 |
|  | **INDUSTRIAL SUPPORT SERVICES - 1.6%** |  |
| 54042 | Fastenal Company | 2269764 |
| 1738 | WW Grainger, Inc. | 1807937 |
|  |  | 4077701 |
|  | **INFRASTRUCTURE REIT - 1.6%** |  |
| 11191 | American Tower Corporation | 2473435 |
| 13512 | Crown Castle, Inc. | 1388088 |
|  |  | 3861523 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.2%** |  |
| 28519 | Intercontinental Exchange, Inc. | 5232381 |
|  | **INSURANCE - 1.9%** |  |
| 9632 | Arthur J Gallagher & Company | 3083396 |
| 6665 | Progressive Corporation (The) | 1778622 |
|  |  | 4862018 |
|  | **LEISURE FACILITIES & SERVICES - 1.3%** |  |
| 59425 | Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 3336714 |
|  | **MACHINERY - 1.9%** |  |
| 9474 | Caterpillar, Inc. | 3677901 |
| 11610 | Ingersoll Rand, Inc. | 965720 |
|  |  | 4643621 |
|  | **MEDICAL EQUIPMENT & DEVICES - 5.7%** |  |
| 17144 | Danaher Corporation | 3386626 |
| 9732 | Intuitive Surgical, Inc.<sup>(a)</sup> | 5288466 |
| 14208 | Stryker Corporation | 5621111 |
|  |  | 14296203 |
|  | **RETAIL - CONSUMER STAPLES - 5.2%** |  |
| 13123 | Costco Wholesale Corporation | 12990983 |
|  | **RETAIL - DISCRETIONARY - 2.9%** |  |
| 61095 | O'Reilly Automotive, Inc.<sup>(a)</sup> | 5506492 |

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 86.4% (Continued)** |  |
|  | **RETAIL - DISCRETIONARY - 2.9% (Continued)** |  |
| 35256 | Tractor Supply Company | $1860459 |
|  |  | 7366951 |
|  | **SEMICONDUCTORS - 21.2%** |  |
| 18028 | Analog Devices, Inc. | 4291025 |
| 44262 | Broadcom, Inc. | 12200819 |
| 4986 | KLA Corporation | 4466160 |
| 171737 | NVIDIA Corporation | 27132728 |
| 7686 | NXP Semiconductors N.V. | 1679314 |
| 16434 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 3722137 |
|  |  | 53492183 |
|  | **SOFTWARE - 18.9%** |  |
| 15612 | Cadence Design Systems, Inc.<sup>(a)</sup> | 4810838 |
| 6375 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | 3246851 |
| 27950 | DocuSign, Inc.<sup>(a)</sup> | 2177026 |
| 12462 | Guidewire Software, Inc.<sup>(a)</sup> | 2934178 |
| 5079 | Manhattan Associates, Inc.<sup>(a)</sup> | 1002950 |
| 25791 | Palo Alto Networks, Inc.<sup>(a)</sup> | 5277870 |
| 11789 | Roper Technologies, Inc. | 6682477 |
| 7789 | ServiceNow, Inc.<sup>(a)</sup> | 8007715 |
| 29584 | Shopify, Inc., Class A<sup>(a)</sup> | 3412514 |
| 7721 | Snowflake, Inc.<sup>(a)</sup> | 1727728 |
| 9967 | Synopsys, Inc.<sup>(a)</sup> | 5109882 |
| 5008 | Tyler Technologies, Inc.<sup>(a)</sup> | 2968943 |
|  |  | 47358972 |
|  | **TECHNOLOGY HARDWARE - 2.4%** |  |
| 34783 | Arista Networks, Inc.<sup>(a)</sup> | 3558649 |
| 30030 | Ciena Corporation<sup>(a)</sup> | 2442340 |
|  |  | 6000989 |
|  | **TECHNOLOGY SERVICES - 0.5%** |  |
| 27739 | Toast, Inc., Class A<sup>(a)</sup> | 1228560 |
|  | **TRANSPORTATION & LOGISTICS - 1.7%** |  |
| 38192 | Canadian Pacific Kansas City Ltd. | 3027480 |

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 86.4% (Continued)** |  |
|  | **TRANSPORTATION & LOGISTICS - 1.7% (Continued)** |  |
| 7267 | Old Dominion Freight Line, Inc. | $1179434 |
|  |  | 4206914 |
|  | **TOTAL COMMON STOCKS (Cost $151,517,261)** | 216986650 |
|  | **EXCHANGE-TRADED FUND — 10.3%** |  |
|  | **EQUITY - 10.3%** |  |
| 573000 | Timothy Plan US Large/Mid Cap Core ETF<sup>(b)</sup> | 25727070 |
|  | **TOTAL EXCHANGE-TRADED FUND (Cost $20,988,985)** | 25727070 |
|  | **SHORT-TERM INVESTMENT — 3.3%** |  |
|  | **MONEY MARKET FUND - 3.3%** |  |
| 8190166 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(c)</sup> (Cost $8,190,166) | 8190166 |
|  | **TOTAL INVESTMENTS - 100.0% (Cost $180,696,412)** | $250903886 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%** | (9860) |
|  | **NET ASSETS - 100.0%** | $250894026 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| NV | - Naamioze Vennootschap |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Investment in affiliate.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 76.3%** |  |
|  | **AEROSPACE & DEFENSE - 2.1%** |  |
| 23452 | General Dynamics Corporation | $6840010 |
|  | **BANKING - 3.9%** |  |
| 48670 | Cullen/Frost Bankers, Inc. | 6256042 |
| 71186 | SouthState Corporation | 6551247 |
|  |  | 12807289 |
|  | **CHEMICALS - 1.8%** |  |
| 16964 | Sherwin-Williams Company (The) | 5824759 |
|  | **COMMERCIAL SUPPORT SERVICES - 1.7%** |  |
| 30277 | Waste Connections, Inc. | 5653321 |
|  | **CONTAINERS & PACKAGING - 1.7%** |  |
| 55114 | Crown Holdings, Inc. | 5675640 |
|  | **ELECTRIC UTILITIES - 5.6%** |  |
| 81137 | CMS Energy Corporation | 5621171 |
| 94157 | NextEra Energy, Inc. | 6536379 |
| 58443 | WEC Energy Group, Inc. | 6089761 |
|  |  | 18247311 |
|  | **ELECTRICAL EQUIPMENT - 4.5%** |  |
| 19100 | Hubbell, Inc. | 7800632 |
| 29706 | Littelfuse, Inc. | 6735241 |
|  |  | 14535873 |
|  | **FOOD - 5.3%** |  |
| 52416 | J M Smucker Company (The) | 5147251 |
| 36524 | Lancaster Colony Corporation | 6310252 |
| 80220 | McCormick & Company, Inc. | 6082280 |
|  |  | 17539783 |
|  | **HEALTH CARE FACILITIES & SERVICES - 2.0%** |  |
| 17047 | HCA Healthcare, Inc. | 6530706 |

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 76.3% (Continued)** |  |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.4%** |  |
| 42750 | Intercontinental Exchange, Inc. | $7843343 |
|  | **INSURANCE - 1.9%** |  |
| 19176 | Arthur J Gallagher & Company | 6138621 |
|  | **LEISURE FACILITIES & SERVICES - 1.6%** |  |
| 11309 | Domino's Pizza, Inc. | 5095835 |
|  | **MEDICAL EQUIPMENT & DEVICES - 5.1%** |  |
| 28024 | Danaher Corporation | 5535861 |
| 57927 | Revvity, Inc. | 5602699 |
| 23046 | STERIS plc | 5536110 |
|  |  | 16674670 |
|  | **OIL & GAS PRODUCERS - 3.6%** |  |
| 57825 | ConocoPhillips | 5189216 |
| 55916 | EOG Resources, Inc. | 6688112 |
|  |  | 11877328 |
|  | **REAL ESTATE INVESTMENT TRUSTS - 1.8%** |  |
| 57041 | Prologis, Inc. | 5996150 |
|  | **RETAIL - CONSUMER STAPLES - 1.8%** |  |
| 5918 | Costco Wholesale Corporation | 5858465 |
|  | **RETAIL - DISCRETIONARY - 1.9%** |  |
| 70515 | O'Reilly Automotive, Inc.<sup>(a)</sup> | 6355517 |
|  | **SEMICONDUCTORS - 13.6%** |  |
| 29874 | Broadcom, Inc. | 8234767 |
| 104137 | Marvell Technology, Inc. | 8060204 |
| 88646 | Microchip Technology, Inc. | 6238019 |
| 10218 | Monolithic Power Systems, Inc. | 7473241 |
| 45935 | NVIDIA Corporation | 7257271 |
| 37130 | Texas Instruments, Inc. | 7708931 |
|  |  | 44972433 |

---

---

| |
|:---|
| **TIMOTHY PLAN LARGE/MID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 76.3% (Continued)** |  |
|  | **SOFTWARE - 5.8%** |  |
| 19530 | Cadence Design Systems, Inc.<sup>(a)</sup> | $6018170 |
| 10890 | Tyler Technologies, Inc.<sup>(a)</sup> | 6456028 |
| 252214 | Verra Mobility Corporation<sup>(a)</sup> | 6403713 |
|  |  | 18877911 |
|  | **TECHNOLOGY SERVICES - 4.1%** |  |
| 66548 | Amdocs Ltd. | 6071840 |
| 15292 | CACI International, Inc., Class A<sup>(a)</sup> | 7289696 |
|  |  | 13361536 |
|  | **TIMBER REIT - 1.8%** |  |
| 225834 | Weyerhaeuser Company | 5801675 |
|  | **TRANSPORTATION & LOGISTICS - 2.3%** |  |
| 33088 | Union Pacific Corporation | 7612888 |
|  | **TOTAL COMMON STOCKS (Cost $185,147,559)** | 250121064 |
|  | <br>**EXCHANGE-TRADED FUNDS — 18.4%** |  |
|  | **EQUITY - 18.4%** |  |
| 858500 | Timothy Plan High Dividend Stock ETF<sup>(b)</sup> | 32451300 |
| 616000 | Timothy Plan US Large/Mid Cap Core ETF<sup>(b)</sup> | 27657722 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $50,251,098)** | 60109022 |
|  | **SHORT-TERM INVESTMENT — 5.3%** |  |
|  | **MONEY MARKET FUND - 5.3%** |  |
| 17372330 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(c)</sup> (Cost $17,372,330) | 17372330 |
|  | **TOTAL INVESTMENTS - 100.0% (Cost $252,770,987)** | $327602416 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%** | (74928) |
|  | **NET ASSETS - 100.0%** | $327527488 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Investment in affiliate.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 85.0%** |  |
|  | **AEROSPACE & DEFENSE - 3.5%** |  |
| 46461 | AAR Corporation<sup>(a)</sup> | $3196052 |
| 16572 | Moog, Inc., Class A | 2999035 |
|  |  | 6195087 |
|  | **BANKING - 14.5%** |  |
| 96831 | Atlantic Union Bankshares Corporation | 3028874 |
| 34570 | Bank of NT Butterfield & Son Ltd. (The) | 1530760 |
| 48761 | Banner Corporation | 3128018 |
| 24954 | City Holding Company | 3054869 |
| 25148 | Coastal Financial Corporation<sup>(a)</sup> | 2436087 |
| 68909 | First Bancorp | 3038198 |
| 81169 | National Bank Holdings Corporation, Class A | 3052766 |
| 83543 | Renasant Corporation | 3001700 |
| 118982 | Seacoast Banking Corporation of Florida | 3286283 |
|  |  | 25557555 |
|  | **BIOTECH & PHARMA - 1.6%** |  |
| 35173 | Prestige Consumer Healthcare, Inc.<sup>(a)</sup> | 2808564 |
|  | **CHEMICALS - 6.5%** |  |
| 40801 | Avient Corporation | 1318280 |
| 17314 | Hawkins, Inc. | 2460319 |
| 18078 | Innospec, Inc. | 1520179 |
| 31486 | Sensient Technologies Corporation | 3102001 |
| 54656 | Stepan Company | 2983124 |
|  |  | 11383903 |
|  | **ELECTRIC UTILITIES - 4.6%** |  |
| 81000 | Avista Corporation | 3073950 |
| 47748 | Northwestern Energy Group, Inc. | 2449472 |
| 43522 | TXNM Energy, Inc. | 2451159 |
|  |  | 7974581 |
|  | **ELECTRICAL EQUIPMENT - 0.9%** |  |
| 115548 | Hayward Holdings, Inc.<sup>(a)</sup> | 1594562 |

---

---

| |
|:---|
| **TIMOTHY PLAN SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 85.0% (Continued)** |  |
|  | **ENGINEERING & CONSTRUCTION - 1.8%** |  |
| 49705 | Everus Construction Group, Inc.<sup>(a)</sup> | $3157759 |
|  | **FOOD - 0.8%** |  |
| 12666 | J & J Snack Foods Corporation | 1436451 |
|  | **FORESTRY, PAPER & WOOD PRODUCTS - 1.8%** |  |
| 35823 | Boise Cascade Company | 3110153 |
|  | **HOME CONSTRUCTION - 1.8%** |  |
| 56324 | Century Communities, Inc. | 3172168 |
|  | **HOUSEHOLD PRODUCTS - 2.5%** |  |
| 48757 | Central Garden & Pet Company, Class A<sup>(a)</sup> | 1525607 |
| 22101 | Interparfums, Inc. | 2902082 |
|  |  | 4427689 |
|  | **INDUSTRIAL INTERMEDIATE PRODUCTS - 1.3%** |  |
| 24713 | AZZ, Inc. | 2334884 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.0%** |  |
| 28000 | Perella Weinberg Partners | 543760 |
| 10883 | Piper Sandler Companies | 3024821 |
|  |  | 3568581 |
|  | **INSURANCE - 2.0%** |  |
| 79357 | Baldwin Insurance Group, Inc. (The)<sup>(a)</sup> | 3397273 |
|  | **LEISURE FACILITIES & SERVICES - 1.3%** |  |
| 37193 | Cheesecake Factory, Inc. (The) | 2330513 |
|  | **LEISURE PRODUCTS - 1.8%** |  |
| 102039 | Yeti Holdings, Inc.<sup>(a)</sup> | 3216269 |
|  | **MACHINERY - 1.7%** |  |
| 13969 | Alamo Group, Inc. | 3050550 |

---

---

| |
|:---|
| **TIMOTHY PLAN SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 85.0% (Continued)** |  |
|  | **MEDICAL EQUIPMENT & DEVICES - 3.3%** |  |
| 49484 | CONMED Corporation | $2577127 |
| 33964 | Merit Medical Systems, Inc.<sup>(a)</sup> | 3174954 |
|  |  | 5752081 |
|  | **OFFICE REIT - 1.7%** |  |
| 105446 | COPT Defense Properties | 2908201 |
|  | **OIL & GAS PRODUCERS - 6.2%** |  |
| 7728 | Gulfport Energy Corporation<sup>(a)</sup> | 1554642 |
| 71139 | Infinity Natural Resources, Inc., Class A<sup>(a)</sup> | 1302555 |
| 97174 | Northern Oil & Gas, Inc. | 2754883 |
| 65414 | Sitio Royalties Corporation, Class A | 1202309 |
| 122493 | SM Energy Company | 3026802 |
| 68859 | Vital Energy, Inc.<sup>(a)</sup> | 1107941 |
|  |  | 10949132 |
|  | **OIL & GAS SERVICES & EQUIPMENT - 0.8%** |  |
| 50696 | Thermon Group Holdings, Inc.<sup>(a)</sup> | 1423544 |
|  | **REAL ESTATE INVESTMENT TRUSTS - 5.1%** |  |
| 188095 | Plymouth Industrial REIT, Inc. | 3020805 |
| 78456 | PotlatchDeltic Corporation | 3010357 |
| 160644 | Urban Edge Properties | 2997617 |
|  |  | 9028779 |
|  | **RETAIL - DISCRETIONARY - 5.2%** |  |
| 64024 | Academy Sports & Outdoors, Inc. | 2868915 |
| 9601 | Boot Barn Holdings, Inc.<sup>(a)</sup> | 1459352 |
| 28750 | GMS, Inc.<sup>(a)</sup> | 3126563 |
| 20802 | Sonic Automotive, Inc., Class A | 1662704 |
|  |  | 9117534 |
|  | **RETAIL REIT - 1.7%** |  |
| 109758 | Four Corners Property Trust, Inc. | 2953588 |
|  | **SEMICONDUCTORS - 3.0%** |  |
| 48576 | Rambus, Inc.<sup>(a)</sup> | 3109836 |

---

---

| |
|:---|
| **TIMOTHY PLAN SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 85.0% (Continued)** |  |
|  | **SEMICONDUCTORS - 3.0% (Continued)** |  |
| 106744 | Veeco Instruments, Inc.<sup>(a)</sup> | $2169038 |
|  |  | 5278874 |
|  | **SOFTWARE - 4.4%** |  |
| 54739 | Blackline, Inc.<sup>(a)</sup> | 3099322 |
| 24854 | Donnelley Financial Solutions, Inc.<sup>(a)</sup> | 1532249 |
| 124923 | Verra Mobility Corporation<sup>(a)</sup> | 3171795 |
|  |  | 7803366 |
|  | **TRANSPORTATION & LOGISTICS - 1.4%** |  |
| 32200 | ArcBest Corporation | 2479722 |
|  | **TRANSPORTATION EQUIPMENT - 1.8%** |  |
| 73318 | Blue Bird Corporation<sup>(a)</sup> | 3164405 |
|  | **TOTAL COMMON STOCKS (Cost $143,607,927)** | 149575768 |
|  | **EXCHANGE-TRADED FUND — 12.8%** |  |
|  | **EQUITY - 12.8%** |  |
| 580000 | Timothy Plan US Small Cap Core ETF<sup>(b)</sup> | 22434400 |
|  | **TOTAL EXCHANGE-TRADED FUND (Cost $14,834,080)** | 22434400 |
|  | **SHORT-TERM INVESTMENT — 2.0%** |  |
|  | **MONEY MARKET FUND - 2.0%** |  |
| 3622067 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(c)</sup> (Cost $3,622,067) | 3622067 |
|  | **TOTAL INVESTMENTS - 99.8% (Cost $162,064,074)** | $175632235 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%** | 266172 |
|  | **NET ASSETS - 100.0%** | $175898407 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Investment in affiliate.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN SMALL/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.2%** |  |
|  | **AEROSPACE & DEFENSE - 1.9%** |  |
| 999 | TransDigm Group, Inc. | $1519119 |
|  | **BANKING - 7.6%** |  |
| 110819 | First Horizon Corporation | 2349363 |
| 12924 | Pinnacle Financial Partners, Inc. | 1426939 |
| 18974 | Wintrust Financial Corporation | 2352396 |
|  |  | 6128698 |
|  | **BIOTECH & PHARMA - 1.1%** |  |
| 3118 | United Therapeutics Corporation<sup>(a)</sup> | 895957 |
|  | **CONSTRUCTION MATERIALS - 1.9%** |  |
| 29969 | Amrize Ltd.<sup>(a)</sup> | 1484964 |
|  | **DATA CENTER REIT - 2.2%** |  |
| 9963 | Digital Realty Trust, Inc. | 1736850 |
|  | **ELECTRIC UTILITIES - 3.6%** |  |
| 14779 | Vistra Corporation | 2864318 |
|  | **ELECTRICAL EQUIPMENT - 9.2%** |  |
| 34452 | Amphenol Corporation, Class A | 3402135 |
| 16837 | Itron, Inc.<sup>(a)</sup> | 2216254 |
| 13172 | Vertiv Holdings Company, Class A | 1691417 |
|  |  | 7309806 |
|  | **ENGINEERING & CONSTRUCTION - 8.7%** |  |
| 4755 | Comfort Systems USA, Inc. | 2549679 |
| 11108 | MasTec, Inc.<sup>(a)</sup> | 1893136 |
| 6800 | Quanta Services, Inc. | 2570944 |
|  |  | 7013759 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.3%** |  |
| 11488 | GeneDx Holdings Corporation<sup>(a)</sup> | 1060457 |
|  | **INDUSTRIAL SUPPORT SERVICES - 4.3%** |  |
| 34922 | Fastenal Company | 1466724 |

---

---

| |
|:---|
| **TIMOTHY PLAN SMALL/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.2% (Continued)** |  |
|  | **INDUSTRIAL SUPPORT SERVICES - 4.3% (Continued)** |  |
| 2655 | United Rentals, Inc. | $2000277 |
|  |  | 3467001 |
|  | **LEISURE FACILITIES & SERVICES - 3.0%** |  |
| 5146 | Domino's Pizza, Inc. | 2318788 |
|  | **MEDICAL EQUIPMENT & DEVICES - 13.2%** |  |
| 7529 | Insulet Corporation<sup>(a)</sup> | 2365461 |
| 25931 | Lantheus Holdings, Inc.<sup>(a)</sup> | 2122712 |
| 7274 | Masimo Corporation<sup>(a)</sup> | 1223632 |
| 23376 | Merit Medical Systems, Inc.<sup>(a)</sup> | 2185188 |
| 15930 | Natera, Inc.<sup>(a)</sup> | 2691215 |
|  |  | 10588208 |
|  | **OIL & GAS PRODUCERS - 4.5%** |  |
| 11039 | Cheniere Energy, Inc. | 2688217 |
| 6698 | Diamondback Energy, Inc. | 920305 |
|  |  | 3608522 |
|  | **RETAIL - DISCRETIONARY - 2.3%** |  |
| 14539 | Ross Stores, Inc. | 1854886 |
|  | **SEMICONDUCTORS - 7.3%** |  |
| 46722 | Marvell Technology, Inc. | 3616283 |
| 3031 | Monolithic Power Systems, Inc. | 2216813 |
|  |  | 5833096 |
|  | **SOFTWARE - 5.9%** |  |
| 7895 | Manhattan Associates, Inc.<sup>(a)</sup> | 1559026 |
| 7436 | MongoDB, Inc.<sup>(a)</sup> | 1561486 |
| 5208 | Zscaler, Inc.<sup>(a)</sup> | 1634999 |
|  |  | 4755511 |
|  | **TECHNOLOGY HARDWARE - 7.6%** |  |
| 23048 | Seagate Technology Holdings plc | 3326518 |
| 57777 | Super Micro Computer, Inc.<sup>(a)</sup> | 2831651 |
|  |  | 6158169 |
|  | **TECHNOLOGY SERVICES - 6.5%** |  |
| 3952 | CACI International, Inc., Class A<sup>(a)</sup> | 1883919 |

---

---

| |
|:---|
| **TIMOTHY PLAN SMALL/MID CAP GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.2% (Continued)** |  |
|  | **TECHNOLOGY SERVICES - 6.5% (Continued)** |  |
| 5176 | Coinbase Global, Inc., Class A<sup>(a)</sup> | $1814136 |
| 2619 | MSCI, Inc. | 1510482 |
|  |  | 5208537 |
|  | **WHOLESALE - DISCRETIONARY - 2.1%** |  |
| 46545 | LKQ Corporation | 1722630 |
|  | **TOTAL COMMON STOCKS (Cost $63,321,160)** | 75529276 |
|  | **SHORT-TERM INVESTMENT — 5.8%** |  |
|  | **MONEY MARKET FUND - 5.8%** |  |
| 4682836 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $4,682,836) | 4682836 |
|  | **TOTAL INVESTMENTS - 100.0% (Cost $68,003,996)** | $80212112 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%** | (5701) |
|  | **NET ASSETS - 100.0%** | $80206411 |

---

---

| | |
|:---|:---|
| LTD | - Limited Company |
| MSCI | - Morgan Stanley Capital International |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security. <br><sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

---

| |
|:---|
| **TIMOTHY PLAN STRATEGIC GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 64.6%** |  |
|  | **EQUITY - 64.6%** |  |
| 68000 | Timothy Plan High Dividend Stock ETF<sup>(a)</sup> | $2570400 |
| 199456 | Timothy Plan International ETF<sup>(a)</sup> | 6441212 |
| 68800 | Timothy Plan Market Neutral ETF<sup>(a)</sup> | 1654124 |
| 162000 | Timothy Plan US Large/Mid Cap Core ETF<sup>(a)</sup> | 7273621 |
| 101423 | Timothy Plan US Small Cap Core ETF<sup>(a)</sup> | 3923042 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $18,337,209)** | 21862399 |
|  | **OPEN END FUNDS — 34.0%** |  |
|  | **EQUITY - 13.2%** |  |
| 304485 | Timothy Plan International Fund, Class A<sup>(a)</sup> | 4460711 |
|  | **FIXED INCOME - 20.8%** |  |
| 553810 | Timothy Plan Fixed Income Fund, Class A<sup>(a)</sup> | 5045208 |
| 222014 | Timothy Plan High Yield Bond Fund, Class A<sup>(a)</sup> | 2009231 |
|  |  | 7054439 |
|  | **TOTAL OPEN END FUNDS (Cost $11,252,388)** | 11515150 |
|  | **SHORT-TERM INVESTMENT — 1.5%** |  |
|  | **MONEY MARKET FUND - 1.5%** |  |
| 495392 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $495,392) | 495392 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $30,084,989)** | $33872941 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | (36905) |
|  | **NET ASSETS - 100.0%** | $33836036 |

---

ETF - Exchange-Traded Fund

<sup>(a)</sup> Investment in affiliate. <br><sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 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 Large/Mid Cap Value Fund

- **b. EDGAR series identifier (if any):** S000004480

- **c. LEI of Series:** 549300C5ZFBVD3B6BC29

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $327770278.83

**Total Liabilities:** $242790.63

**Net Assets:** $327527488.20

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000126994 | -1.84%               | 3.89%                | 3.45%                |
| Class ID C000012333 | -1.87%               | 3.86%                | 3.46%                |
| Class ID C000012335 | -1.96%               | 3.80%                | 3.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1206722.09             | $-4857483.44                               |
| Month 2  | $4075937.23              | $7512844.15                                |
| Month 3  | $0.00                    | $10716305.40                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Broadcom Inc                      | BROADCOM INC     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     29874 | NS      | $8234768.10   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                  | ARTHUR J GALLAGH | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     19176 | NS      | $6138621.12   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.           | CACI INTL-A      | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     15292 | NS      | $7289696.40   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                | HCA HEALTHCARE I | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     17047 | NS      | $6530705.70   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                    | CONOCOPHILLIPS   | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     57825 | NS      | $5189215.50   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                        | STERIS PLC       | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     23046 | NS      | $5536110.12   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                | CROWN HOLDINGS I | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     55114 | NS      | $5675639.72   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust  | FID-MM GOVT-I    | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |  17372330 | PA      | $17372329.96  | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc            | MARVELL TECHNOLO | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104137 | NS      | $8060203.80   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.        | CULLEN/FROST     | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     48670 | NS      | $6256041.80   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated | MICROCHIP TECH   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     88646 | NS      | $6238019.02   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                | NEXTERA ENERGY   | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     94157 | NS      | $6536378.94   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                     | PROLOGIS INC     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     57041 | NS      | $5996149.92   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                | DOMINO'S PIZZA   | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |     11309 | NS      | $5095835.40   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation               | DANAHER CORP     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     28024 | NS      | $5535860.96   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| McCormick & Company, Incorporated | MCCORMICK-N/V    | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |     80220 | NS      | $6082280.40   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                       | REVVITY INC      | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     57927 | NS      | $5602699.44   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| The J M Smucker Company           | JM SMUCKER CO    | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     52416 | NS      | $5147251.20   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                      | NVIDIA CORP      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     45935 | NS      | $7257270.65   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc.            | WASTE CONNECTION | CUSIP: 94106B101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     30277 | NS      | $5653321.44   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated              | HUBBELL INC      | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |     19100 | NS      | $7800631.00   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.          | O'REILLY AUTOMOT | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     70515 | NS      | $6355516.95   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.     | MONOLITHIC POWER | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |     10218 | NS      | $7473240.84   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Incorporated    | TEXAS INSTRUMENT | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     37130 | NS      | $7708930.60   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Company              | WEYERHAEUSER CO  | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    225834 | NS      | $5801675.46   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc.                   | LITTELFUSE INC   | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     29706 | NS      | $6735241.38   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Timothy Plan                      | TP US LRG/MD CAP | CUSIP: 887432359<br>LEI: 549300TW26XMX8DL8P98 | Long             | EC               | RF                | US        |    616000 | NS      | $27657722.40  | 8.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Co.(The)                 | MARZETTI COMPANY | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     36524 | NS      | $6310251.48   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation      | COSTCO WHOLESALE | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      5918 | NS      | $5858464.92   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation            | CMS ENERGY CORP  | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     81137 | NS      | $5621171.36   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.           | TYLER TECHNOLOG  | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     10890 | NS      | $6456027.60   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc.             | WEC ENERGY GROUP | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     58443 | NS      | $6089760.60   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp.                  | SOUTHSTATE CORP  | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     71186 | NS      | $6551247.58   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc     | INTERCONTINENTAL | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     42750 | NS      | $7843342.50   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation      | GENERAL DYNAMICS | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     23452 | NS      | $6840010.32   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.      | CADENCE DESIGN   | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     19530 | NS      | $6018169.50   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.                | EOG RESOURCES    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     55916 | NS      | $6688112.76   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Timothy Plan                      | T/P HIGH DVD STK | CUSIP: 887432326<br>LEI: 549300TW26XMX8DL8P98 | Long             | EC               | RF                | US        |    858500 | NS      | $32451300.00  | 9.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corporation        | VERRA MOBILITY C | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    252214 | NS      | $6403713.46   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company      | SHERWIN-WILLIAMS | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     16964 | NS      | $5824759.04   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                    | AMDOCS LTD       | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     66548 | NS      | $6071839.52   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation         | UNION PAC CORP   | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     33088 | NS      | $7612887.04   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** TIMOTHY PLAN

**Signature:** Arthur D. Ally

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

**Title:** President & Treasurer