# EDGAR Filing Document

**Accession Number:** 0000711080
**File Stem:** 0001104659-26-022198
**Filing Date:** 2026-3
**Character Count:** 560724
**Document Hash:** 9fa2e9e67ee79b7cffd549fc57c0a512
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-022198.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001104659-26-022198

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 52

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**EFFECTIVENESS DATE**: 20260302

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE STRATEGIC TRUST
- **CENTRAL INDEX KEY:** 0000711080

**ORGANIZATION NAME:**
- **EIN:** 311276717
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03651
- **FILM NUMBER:** 26707021

**BUSINESS ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203
- **BUSINESS PHONE:** 5133628000

**MAIL ADDRESS:**
- **STREET 1:** 303 BROADWAY
- **STREET 2:** SUITE 1100
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45202-4203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COUNTRYWIDE STRATEGIC TRUST
- **DATE OF NAME CHANGE:** 19970303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MIDWEST STRATEGIC TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FINANCIAL INDEPENDENCE TRUST
- **DATE OF NAME CHANGE:** 19900604

## Series and Classes Contracts Data

### Touchstone Value Fund (Series ID: S000035691)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000109286 | A             | TVLAX           |
| C000109287 | C             | TVLCX           |
| C000109288 | Institutional | TVLIX           |
| C000109289 | Y             | TVLYX           |
| C000231973 | Class R6      | TVLRX           |

### Touchstone Large Cap Fund (Series ID: S000046011)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000143754 | Class A             | TACLX           |
| C000143755 | Class C             | TFCCX           |
| C000143756 | Class Y             | TLCYX           |
| C000143757 | Institutional Class | TLCIX           |

### Touchstone Large Company Growth Fund (Series ID: S000054835)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000172508 | Class A       | TSAGX           |
| C000172509 | Class C       | TCGLX           |
| C000172510 | Class Y       | TLGYX           |
| C000172511 | Institutional | DSMLX           |

### Touchstone Core Municipal Bond Fund (Series ID: S000055861)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000175943 | Class A       | TOHAX           |
| C000175944 | Class C       | TOHCX           |
| C000175945 | Class Y       | TOHYX           |
| C000175946 | Institutional | TOHIX           |

### Touchstone Balanced Fund (Series ID: S000059009)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193583 | Class A      | SEBLX           |
| C000193584 | Class C      | SBACX           |
| C000193585 | Class Y      | SIBLX           |
| C000231974 | Class R6     | TBARX           |

### Touchstone Large Cap Focused Fund (Series ID: S000059010)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000193586 | Class A       | SENCX           |
| C000193587 | Class C       | SCSCX           |
| C000193588 | Class Y       | SICWX           |
| C000193589 | Institutional | SCRLX           |
| C000231975 | Class R6      | TSRLX           |

### Touchstone Small Company Fund (Series ID: S000059011)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000193591 | Class A       | SAGWX           |
| C000193592 | Class C       | SSCOX           |
| C000193593 | Class Y       | SIGWX           |
| C000193594 | Class R6      | SSRRX           |
| C000193595 | Institutional | TICSX           |

### Touchstone International Value Fund (Series ID: S000059012)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000193597 | Class A       | SWRLX           |
| C000193598 | Class C       | SWFCX           |
| C000193599 | Class Y       | SIIEX           |
| C000193600 | Institutional | TOIIX           |

?xml version='1.0' encoding='ASCII'? N-CSR

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number 811-03651

#### Touchstone Strategic Trust - June Funds
(Exact name of registrant as specified in charter)

303 Broadway, Suite 1100

Cincinnati, Ohio 45202-4203

#### Registrant's telephone number, including area code: 800-638-8194

#### Date of fiscal year end: June 30

#### Date of reporting period: December 31, 2025
**Item 1. Reports to Stockholders.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is attached herewith.

**TABLE OF CONTENTS**

---

| |
|:---|
|  [Touchstone Balanced Fund](#classname9a53d1ac-9072-49c4-9525-2009621c68da)<br> **[CLASS A - SEBLX](#classname9a53d1ac-9072-49c4-9525-2009621c68da)**  |
|  [Touchstone Balanced Fund](#classname74e995cb-1b3f-4df0-80d3-79c7b36f1497)<br> **[CLASS C - SBACX](#classname74e995cb-1b3f-4df0-80d3-79c7b36f1497)**  |
|  [Touchstone Balanced Fund](#classnameadd4e7a0-c194-4649-947c-1d4e6647bc25)<br> **[CLASS Y - SIBLX](#classnameadd4e7a0-c194-4649-947c-1d4e6647bc25)**  |
|  [Touchstone Balanced Fund](#classnamef9cda4e0-9ccd-4adb-aeab-8f1403977b84)<br> **[CLASS R6 - TBARX](#classnamef9cda4e0-9ccd-4adb-aeab-8f1403977b84)**  |
|  [Touchstone Core Municipal Bond Fund](#classname8f6ab1e7-ee73-4546-8009-3e7f7d73d622)<br> **[CLASS A - TOHAX](#classname8f6ab1e7-ee73-4546-8009-3e7f7d73d622)**  |
|  [Touchstone Core Municipal Bond Fund](#classname8d96a774-591a-4ae0-9b41-d00069ff1251)<br> **[CLASS C - TOHCX](#classname8d96a774-591a-4ae0-9b41-d00069ff1251)**  |
|  [Touchstone Core Municipal Bond Fund](#classnameead58abb-e394-4e25-8819-82d36dda5dca)<br> **[CLASS Y - TOHYX](#classnameead58abb-e394-4e25-8819-82d36dda5dca)**  |
|  [Touchstone Core Municipal Bond Fund](#classname68dfcd47-6137-4b15-9c8f-e85813291d2c)<br> **[INSTITUTIONAL CLASS - TOHIX](#classname68dfcd47-6137-4b15-9c8f-e85813291d2c)**  |
|  [Touchstone International Value Fund](#classname88b7f476-9d2b-46b2-9c64-c1a18ad7fbbc)<br> **[CLASS A - SWRLX](#classname88b7f476-9d2b-46b2-9c64-c1a18ad7fbbc)**  |
|  [Touchstone International Value Fund](#classnamed4bf35e7-22fd-4e15-b0fe-b10236fba194)<br> **[CLASS C - SWFCX](#classnamed4bf35e7-22fd-4e15-b0fe-b10236fba194)**  |
|  [Touchstone International Value Fund](#classname45b29f62-607a-466a-a9ba-d74ab54a31bb)<br> **[CLASS Y - SIIEX](#classname45b29f62-607a-466a-a9ba-d74ab54a31bb)**  |
|  [Touchstone International Value Fund](#classnamef6e7f975-50fa-4f86-b674-d3c691eb544f)<br> **[INSTITUTIONAL CLASS - TOIIX](#classnamef6e7f975-50fa-4f86-b674-d3c691eb544f)**  |
|  [Touchstone Large Cap Focused Fund](#classname20893397-e7ae-4600-819c-f4cc4d93bb45)<br> **[CLASS A - SENCX](#classname20893397-e7ae-4600-819c-f4cc4d93bb45)**  |
|  [Touchstone Large Cap Focused Fund](#classname5ce4c0db-3ae0-42b0-84d0-c36e94256df9)<br> **[CLASS C - SCSCX](#classname5ce4c0db-3ae0-42b0-84d0-c36e94256df9)**  |
|  [Touchstone Large Cap Focused Fund](#classnamee4bdf08a-4ea7-4aef-9bdf-69465db79d8b)<br> **[CLASS Y - SICWX](#classnamee4bdf08a-4ea7-4aef-9bdf-69465db79d8b)**  |
|  [Touchstone Large Cap Focused Fund](#classname9855d733-2c29-48db-9704-552b7d5c5c0f)<br> **[INSTITUTIONAL CLASS - SCRLX](#classname9855d733-2c29-48db-9704-552b7d5c5c0f)**  |
|  [Touchstone Large Cap Focused Fund](#classname305acf81-95b8-4f29-8c90-9007b15153b4)<br> **[CLASS R6 - TSRLX](#classname305acf81-95b8-4f29-8c90-9007b15153b4)**  |
|  [Touchstone Large Cap Fund](#classnameeb3591cd-4ecd-4d5b-8165-718041a0887d)<br> **[CLASS A - TACLX](#classnameeb3591cd-4ecd-4d5b-8165-718041a0887d)**  |
|  [Touchstone Large Cap Fund](#classname75b2d386-bd7d-4ff9-a026-e81168a26be6)<br> **[CLASS C - TFCCX](#classname75b2d386-bd7d-4ff9-a026-e81168a26be6)**  |
|  [Touchstone Large Cap Fund](#classname1f599339-6f7e-4c8e-82d9-99ed4b66544c)<br> **[CLASS Y - TLCYX](#classname1f599339-6f7e-4c8e-82d9-99ed4b66544c)**  |
|  [Touchstone Large Cap Fund](#classnamea0bd04bc-33df-4ae5-9f8c-56d0a15c3aca)<br> **[INSTITUTIONAL CLASS - TLCIX](#classnamea0bd04bc-33df-4ae5-9f8c-56d0a15c3aca)**  |
|  [Touchstone Large Company Growth Fund](#classnameb2832a0e-d9b2-4e4f-9aa8-e4595d707095)<br> **[CLASS A - TSAGX](#classnameb2832a0e-d9b2-4e4f-9aa8-e4595d707095)**  |
|  [Touchstone Large Company Growth Fund](#classnameb0201aeb-ff90-47c2-b076-f194482ef9b1)<br> **[CLASS C - TCGLX](#classnameb0201aeb-ff90-47c2-b076-f194482ef9b1)**  |
|  [Touchstone Large Company Growth Fund](#classname1ac2ed64-7dea-4363-98d8-0abdfad9769b)<br> **[CLASS Y - TLGYX](#classname1ac2ed64-7dea-4363-98d8-0abdfad9769b)**  |
|  [Touchstone Large Company Growth Fund](#classnamea5ecfc98-3573-4e19-aa06-30914719bbdf)<br> **[INSTITUTIONAL CLASS - DSMLX](#classnamea5ecfc98-3573-4e19-aa06-30914719bbdf)**  |
|  [Touchstone Small Company Fund](#classname62a2933e-8b71-4300-8ac9-3c438a525300)<br> **[CLASS A - SAGWX](#classname62a2933e-8b71-4300-8ac9-3c438a525300)**  |
|  [Touchstone Small Company Fund](#classnamee408ad08-4a3c-403e-9cca-c43d9061fb68)<br> **[CLASS C - SSCOX](#classnamee408ad08-4a3c-403e-9cca-c43d9061fb68)**  |
|  [Touchstone Small Company Fund](#classname4b5aec8b-84d8-4174-b258-aabb70efdba5)<br> **[CLASS Y - SIGWX](#classname4b5aec8b-84d8-4174-b258-aabb70efdba5)**  |
|  [Touchstone Small Company Fund](#classname3c50fbe7-12c1-443c-8c40-852698f89d78)<br> **[INSTITUTIONAL CLASS - TICSX](#classname3c50fbe7-12c1-443c-8c40-852698f89d78)**  |
|  [Touchstone Small Company Fund](#classname78e2d9b0-feaf-4000-bb54-cfe6849ce85a)<br> **[CLASS R6 - SSRRX](#classname78e2d9b0-feaf-4000-bb54-cfe6849ce85a)**  |
|  [Touchstone Value Fund](#classname4cfeb9bb-3101-4201-b125-2f81b6059daa)<br> **[CLASS A - TVLAX](#classname4cfeb9bb-3101-4201-b125-2f81b6059daa)**  |
|  [Touchstone Value Fund](#classname5e806402-e158-4454-afff-51abe055f340)<br> **[CLASS C - TVLCX](#classname5e806402-e158-4454-afff-51abe055f340)**  |
|  [Touchstone Value Fund](#classname711f58f7-af62-437c-9771-787277ac59d3)<br> **[CLASS Y - TVLYX](#classname711f58f7-af62-437c-9771-787277ac59d3)**  |
|  [Touchstone Value Fund](#classname0c9e8e5e-e604-4d0d-b74e-38da30ccc04a)<br> **[INSTITUTIONAL CLASS - TVLIX](#classname0c9e8e5e-e604-4d0d-b74e-38da30ccc04a)**  |
|  [Touchstone Value Fund](#classname7dace856-3672-47d7-a8cf-5a23ac6bd447)<br> **[CLASS R6 - TVLRX](#classname7dace856-3672-47d7-a8cf-5a23ac6bd447)**  |

---

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Balanced Fund**<br> **[CLASS A](#Toc) \| SEBLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Balanced Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $51 | 0.98% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1003877925 |
|  Total number of portfolio holdings | 528 |
|  Portfolio turnover rate | 38% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Common Stocks | 64.2% |
|  Corporate Bonds | 13.9% |
|  U.S. Treasury Obligations | 9.4% |
|  U.S. Government Mortgage-Backed Obligations | 3.8% |
|  Non-Agency Collateralized Mortgage Obligations | 2.8% |
|  Agency Collateralized Mortgage Obligations | 1.4% |
|  Asset-Backed Securities | 1.4% |
|  Commercial Mortgage-Backed Securities | 1.3% |
|  Sovereign Government Obligations | 0.2% |
|  Short-Term Investment Funds | 2.1% |
|  Other Assets/Liabilities (Net) | (0.5)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 39.3% |
|  AA/Aa | 18.8% |
|  A/A | 14.9% |
|  BBB/Baa | 19.6% |
|  BB/Ba | 2.2% |
|  B/B | 1.0% |
|  Not Rated | 4.2% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg030.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SEBLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Balanced Fund**<br> **[CLASS C](#Toc) \| SBACX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Balanced Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $92 | 1.76% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1003877925 |
|  Total number of portfolio holdings | 528 |
|  Portfolio turnover rate | 38% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Common Stocks | 64.2% |
|  Corporate Bonds | 13.9% |
|  U.S. Treasury Obligations | 9.4% |
|  U.S. Government Mortgage-Backed Obligations | 3.8% |
|  Non-Agency Collateralized Mortgage Obligations | 2.8% |
|  Agency Collateralized Mortgage Obligations | 1.4% |
|  Asset-Backed Securities | 1.4% |
|  Commercial Mortgage-Backed Securities | 1.3% |
|  Sovereign Government Obligations | 0.2% |
|  Short-Term Investment Funds | 2.1% |
|  Other Assets/Liabilities (Net) | (0.5)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 39.3% |
|  AA/Aa | 18.8% |
|  A/A | 14.9% |
|  BBB/Baa | 19.6% |
|  BB/Ba | 2.2% |
|  B/B | 1.0% |
|  Not Rated | 4.2% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg031.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SBACX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Balanced Fund**<br> **[CLASS Y](#Toc) \| SIBLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Balanced Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $40 | 0.76% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1003877925 |
|  Total number of portfolio holdings | 528 |
|  Portfolio turnover rate | 38% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Common Stocks | 64.2% |
|  Corporate Bonds | 13.9% |
|  U.S. Treasury Obligations | 9.4% |
|  U.S. Government Mortgage-Backed Obligations | 3.8% |
|  Non-Agency Collateralized Mortgage Obligations | 2.8% |
|  Agency Collateralized Mortgage Obligations | 1.4% |
|  Asset-Backed Securities | 1.4% |
|  Commercial Mortgage-Backed Securities | 1.3% |
|  Sovereign Government Obligations | 0.2% |
|  Short-Term Investment Funds | 2.1% |
|  Other Assets/Liabilities (Net) | (0.5)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 39.3% |
|  AA/Aa | 18.8% |
|  A/A | 14.9% |
|  BBB/Baa | 19.6% |
|  BB/Ba | 2.2% |
|  B/B | 1.0% |
|  Not Rated | 4.2% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg032.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SIBLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Balanced Fund**<br> **[CLASS R6](#Toc) \| TBARX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Balanced Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class R6 | $33 | 0.63% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1003877925 |
|  Total number of portfolio holdings | 528 |
|  Portfolio turnover rate | 38% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Common Stocks | 64.2% |
|  Corporate Bonds | 13.9% |
|  U.S. Treasury Obligations | 9.4% |
|  U.S. Government Mortgage-Backed Obligations | 3.8% |
|  Non-Agency Collateralized Mortgage Obligations | 2.8% |
|  Agency Collateralized Mortgage Obligations | 1.4% |
|  Asset-Backed Securities | 1.4% |
|  Commercial Mortgage-Backed Securities | 1.3% |
|  Sovereign Government Obligations | 0.2% |
|  Short-Term Investment Funds | 2.1% |
|  Other Assets/Liabilities (Net) | (0.5)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 39.3% |
|  AA/Aa | 18.8% |
|  A/A | 14.9% |
|  BBB/Baa | 19.6% |
|  BB/Ba | 2.2% |
|  B/B | 1.0% |
|  Not Rated | 4.2% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg033.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TBARX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Core Municipal Bond Fund**<br> **[CLASS A](#Toc) \| TOHAX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Core Municipal Bond Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $41 | 0.80% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $42584517 |
|  Total number of portfolio holdings | 82 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Fixed Rate Revenue Bonds | 69.5% |
|  General Obligation Bonds | 27.6% |
|  Short-Term Investment Fund | 1.8% |
|  Other Assets/Liabilities (Net) | 1.1% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 7.5% |
|  AA/Aa | 44.7% |
|  A/A | 35.1% |
|  BBB/Baa | 9.3% |
|  BB/Ba | 2.1% |
|  Not Rated | 1.3% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg034.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TOHAX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Core Municipal Bond Fund**<br> **[CLASS C](#Toc) \| TOHCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Core Municipal Bond Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $77 | 1.50% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $42584517 |
|  Total number of portfolio holdings | 82 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Fixed Rate Revenue Bonds | 69.5% |
|  General Obligation Bonds | 27.6% |
|  Short-Term Investment Fund | 1.8% |
|  Other Assets/Liabilities (Net) | 1.1% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 7.5% |
|  AA/Aa | 44.7% |
|  A/A | 35.1% |
|  BBB/Baa | 9.3% |
|  BB/Ba | 2.1% |
|  Not Rated | 1.3% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg035.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TOHCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Core Municipal Bond Fund**<br> **[CLASS Y](#Toc) \| TOHYX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Core Municipal Bond Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $28 | 0.55% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $42584517 |
|  Total number of portfolio holdings | 82 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Fixed Rate Revenue Bonds | 69.5% |
|  General Obligation Bonds | 27.6% |
|  Short-Term Investment Fund | 1.8% |
|  Other Assets/Liabilities (Net) | 1.1% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 7.5% |
|  AA/Aa | 44.7% |
|  A/A | 35.1% |
|  BBB/Baa | 9.3% |
|  BB/Ba | 2.1% |
|  Not Rated | 1.3% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg036.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TOHYX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Core Municipal Bond Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| TOHIX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Core Municipal Bond Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $25 | 0.48% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $42584517 |
|  Total number of portfolio holdings | 82 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| ASSET CATEGORY (% OF NET ASSETS) | ASSET CATEGORY (% OF NET ASSETS) |
|  Fixed Rate Revenue Bonds | 69.5% |
|  General Obligation Bonds | 27.6% |
|  Short-Term Investment Fund | 1.8% |
|  Other Assets/Liabilities (Net) | 1.1% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) | CREDIT QUALITY\* (% OF FIXED INCOME SECURITIES) |
|  AAA/Aaa | 7.5% |
|  AA/Aa | 44.7% |
|  A/A | 35.1% |
|  BBB/Baa | 9.3% |
|  BB/Ba | 2.1% |
|  Not Rated | 1.3% |
|  Total | 100.0% |

---

\* Credit quality ratings are from S&P Global Ratings ("S&P") and Moody's Investor Service ("Moody's"). If agency ratings differ, the higher ratings will be used. Where no rating has been assigned, it may be for reasons unrelated to the creditworthiness of the issuer.

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg002.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TOHIX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone International Value Fund**<br> **[CLASS A](#Toc) \| SWRLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone International Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $70 | 1.26% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $146871646 |
|  Total number of portfolio holdings | 84 |
|  Portfolio turnover rate | 18% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 27.5% |
|  Industrials | 13.0% |
|  Information Technology | 12.4% |
|  Consumer Discretionary | 10.2% |
|  Health Care | 9.7% |
|  Materials | 8.8% |
|  Energy | 6.3% |
|  Consumer Staples | 4.7% |
|  Communication Services | 2.1% |
|  Utilities | 2.0% |
|  Real Estate | 1.1% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) | GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) |
|  Common Stocks |  |
|  Japan | 15.5% |
|  Canada | 8.8% |
|  South Korea | 7.1% |
|  United Kingdom | 7.1% |
|  France | 6.4% |
|  China | 6.2% |
|  Germany | 5.0% |
|  India | 4.1% |
|  Taiwan | 4.1% |
|  Netherlands | 3.9% |
|  Australia | 3.7% |
|  Italy | 3.6% |
|  Other Countries | 22.3% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg003.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SWRLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone International Value Fund**<br> **[CLASS C](#Toc) \| SWFCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone International Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $102 | 1.85% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $146871646 |
|  Total number of portfolio holdings | 84 |
|  Portfolio turnover rate | 18% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 27.5% |
|  Industrials | 13.0% |
|  Information Technology | 12.4% |
|  Consumer Discretionary | 10.2% |
|  Health Care | 9.7% |
|  Materials | 8.8% |
|  Energy | 6.3% |
|  Consumer Staples | 4.7% |
|  Communication Services | 2.1% |
|  Utilities | 2.0% |
|  Real Estate | 1.1% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) | GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) |
|  Common Stocks |  |
|  Japan | 15.5% |
|  Canada | 8.8% |
|  South Korea | 7.1% |
|  United Kingdom | 7.1% |
|  France | 6.4% |
|  China | 6.2% |
|  Germany | 5.0% |
|  India | 4.1% |
|  Taiwan | 4.1% |
|  Netherlands | 3.9% |
|  Australia | 3.7% |
|  Italy | 3.6% |
|  Other Countries | 22.3% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg004.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SWFCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone International Value Fund**<br> **[CLASS Y](#Toc) \| SIIEX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone International Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $49 | 0.89% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $146871646 |
|  Total number of portfolio holdings | 84 |
|  Portfolio turnover rate | 18% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 27.5% |
|  Industrials | 13.0% |
|  Information Technology | 12.4% |
|  Consumer Discretionary | 10.2% |
|  Health Care | 9.7% |
|  Materials | 8.8% |
|  Energy | 6.3% |
|  Consumer Staples | 4.7% |
|  Communication Services | 2.1% |
|  Utilities | 2.0% |
|  Real Estate | 1.1% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) | GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) |
|  Common Stocks |  |
|  Japan | 15.5% |
|  Canada | 8.8% |
|  South Korea | 7.1% |
|  United Kingdom | 7.1% |
|  France | 6.4% |
|  China | 6.2% |
|  Germany | 5.0% |
|  India | 4.1% |
|  Taiwan | 4.1% |
|  Netherlands | 3.9% |
|  Australia | 3.7% |
|  Italy | 3.6% |
|  Other Countries | 22.3% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg005.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SIIEX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone International Value Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| TOIIX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone International Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $43 | 0.77% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $146871646 |
|  Total number of portfolio holdings | 84 |
|  Portfolio turnover rate | 18% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 27.5% |
|  Industrials | 13.0% |
|  Information Technology | 12.4% |
|  Consumer Discretionary | 10.2% |
|  Health Care | 9.7% |
|  Materials | 8.8% |
|  Energy | 6.3% |
|  Consumer Staples | 4.7% |
|  Communication Services | 2.1% |
|  Utilities | 2.0% |
|  Real Estate | 1.1% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) | GEOGRAPHICAL ALLOCATION (% OF NET ASSETS) |
|  Common Stocks |  |
|  Japan | 15.5% |
|  Canada | 8.8% |
|  South Korea | 7.1% |
|  United Kingdom | 7.1% |
|  France | 6.4% |
|  China | 6.2% |
|  Germany | 5.0% |
|  India | 4.1% |
|  Taiwan | 4.1% |
|  Netherlands | 3.9% |
|  Australia | 3.7% |
|  Italy | 3.6% |
|  Other Countries | 22.3% |
|  Short-Term Investment Funds | 0.3% |
|  Other Assets/Liabilities (Net) | 1.9% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg006.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TOIIX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Focused Fund**<br> **[CLASS A](#Toc) \| SENCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Focused Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $51 | 0.97% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $3638553166 |
|  Total number of portfolio holdings | 45 |
|  Portfolio turnover rate | 3% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 33.8% |
|  Communication Services | 17.9% |
|  Financials | 14.3% |
|  Health Care | 10.1% |
|  Consumer Discretionary | 9.0% |
|  Industrials | 6.8% |
|  Consumer Staples | 3.9% |
|  Energy | 2.0% |
|  Real Estate | 1.7% |
|  Materials | 0.7% |
|  Short-Term Investment Fund | 0.8% |
|  Other Assets/Liabilities (Net) | (1.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg007.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SENCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Focused Fund**<br> **[CLASS C](#Toc) \| SCSCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Focused Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $95 | 1.80% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $3638553166 |
|  Total number of portfolio holdings | 45 |
|  Portfolio turnover rate | 3% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 33.8% |
|  Communication Services | 17.9% |
|  Financials | 14.3% |
|  Health Care | 10.1% |
|  Consumer Discretionary | 9.0% |
|  Industrials | 6.8% |
|  Consumer Staples | 3.9% |
|  Energy | 2.0% |
|  Real Estate | 1.7% |
|  Materials | 0.7% |
|  Short-Term Investment Fund | 0.8% |
|  Other Assets/Liabilities (Net) | (1.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg008.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SCSCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Focused Fund**<br> **[CLASS Y](#Toc) \| SICWX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Focused Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $39 | 0.73% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $3638553166 |
|  Total number of portfolio holdings | 45 |
|  Portfolio turnover rate | 3% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 33.8% |
|  Communication Services | 17.9% |
|  Financials | 14.3% |
|  Health Care | 10.1% |
|  Consumer Discretionary | 9.0% |
|  Industrials | 6.8% |
|  Consumer Staples | 3.9% |
|  Energy | 2.0% |
|  Real Estate | 1.7% |
|  Materials | 0.7% |
|  Short-Term Investment Fund | 0.8% |
|  Other Assets/Liabilities (Net) | (1.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg009.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SICWX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Focused Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| SCRLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Focused Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $37 | 0.70% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $3638553166 |
|  Total number of portfolio holdings | 45 |
|  Portfolio turnover rate | 3% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 33.8% |
|  Communication Services | 17.9% |
|  Financials | 14.3% |
|  Health Care | 10.1% |
|  Consumer Discretionary | 9.0% |
|  Industrials | 6.8% |
|  Consumer Staples | 3.9% |
|  Energy | 2.0% |
|  Real Estate | 1.7% |
|  Materials | 0.7% |
|  Short-Term Investment Fund | 0.8% |
|  Other Assets/Liabilities (Net) | (1.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg010.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SCRLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Focused Fund**<br> **[CLASS R6](#Toc) \| TSRLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Focused Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class R6 | $35 | 0.66% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $3638553166 |
|  Total number of portfolio holdings | 45 |
|  Portfolio turnover rate | 3% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 33.8% |
|  Communication Services | 17.9% |
|  Financials | 14.3% |
|  Health Care | 10.1% |
|  Consumer Discretionary | 9.0% |
|  Industrials | 6.8% |
|  Consumer Staples | 3.9% |
|  Energy | 2.0% |
|  Real Estate | 1.7% |
|  Materials | 0.7% |
|  Short-Term Investment Fund | 0.8% |
|  Other Assets/Liabilities (Net) | (1.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg011.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TSRLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Fund**<br> **[CLASS A](#Toc) \| TACLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $54 | 1.04% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $304333224 |
|  Total number of portfolio holdings | 28 |
|  Portfolio turnover rate | 5% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 30.5% |
|  Information Technology | 15.7% |
|  Industrials | 14.6% |
|  Materials | 10.4% |
|  Communication Services | 9.8% |
|  Consumer Staples | 6.9% |
|  Consumer Discretionary | 6.2% |
|  Health Care | 2.4% |
|  Energy | 2.3% |
|  Short-Term Investment Fund | 1.2% |
|  Other Assets/Liabilities (Net) | (0.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg012.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TACLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Fund**<br> **[CLASS C](#Toc) \| TFCCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $92 | 1.78% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $304333224 |
|  Total number of portfolio holdings | 28 |
|  Portfolio turnover rate | 5% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 30.5% |
|  Information Technology | 15.7% |
|  Industrials | 14.6% |
|  Materials | 10.4% |
|  Communication Services | 9.8% |
|  Consumer Staples | 6.9% |
|  Consumer Discretionary | 6.2% |
|  Health Care | 2.4% |
|  Energy | 2.3% |
|  Short-Term Investment Fund | 1.2% |
|  Other Assets/Liabilities (Net) | (0.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg013.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TFCCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Fund**<br> **[CLASS Y](#Toc) \| TLCYX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $41 | 0.79% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $304333224 |
|  Total number of portfolio holdings | 28 |
|  Portfolio turnover rate | 5% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 30.5% |
|  Information Technology | 15.7% |
|  Industrials | 14.6% |
|  Materials | 10.4% |
|  Communication Services | 9.8% |
|  Consumer Staples | 6.9% |
|  Consumer Discretionary | 6.2% |
|  Health Care | 2.4% |
|  Energy | 2.3% |
|  Short-Term Investment Fund | 1.2% |
|  Other Assets/Liabilities (Net) | (0.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg014.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TLCYX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Cap Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| TLCIX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Cap Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $36 | 0.69% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $304333224 |
|  Total number of portfolio holdings | 28 |
|  Portfolio turnover rate | 5% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 30.5% |
|  Information Technology | 15.7% |
|  Industrials | 14.6% |
|  Materials | 10.4% |
|  Communication Services | 9.8% |
|  Consumer Staples | 6.9% |
|  Consumer Discretionary | 6.2% |
|  Health Care | 2.4% |
|  Energy | 2.3% |
|  Short-Term Investment Fund | 1.2% |
|  Other Assets/Liabilities (Net) | (0.0)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg015.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TLCIX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Company Growth Fund**<br> **[CLASS A](#Toc) \| TSAGX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Company Growth Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $54 | 1.06% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $163007299 |
|  Total number of portfolio holdings | 26 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 47.8% |
|  Communication Services | 18.5% |
|  Industrials | 14.2% |
|  Consumer Discretionary | 9.8% |
|  Financials | 5.0% |
|  Health Care | 4.5% |
|  Short-Term Investment Fund | 0.3% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg016.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TSAGX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Company Growth Fund**<br> **[CLASS C](#Toc) \| TCGLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Company Growth Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $92 | 1.81% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $163007299 |
|  Total number of portfolio holdings | 26 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 47.8% |
|  Communication Services | 18.5% |
|  Industrials | 14.2% |
|  Consumer Discretionary | 9.8% |
|  Financials | 5.0% |
|  Health Care | 4.5% |
|  Short-Term Investment Fund | 0.3% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg017.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TCGLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Company Growth Fund**<br> **[CLASS Y](#Toc) \| TLGYX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Company Growth Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $41 | 0.81% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $163007299 |
|  Total number of portfolio holdings | 26 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 47.8% |
|  Communication Services | 18.5% |
|  Industrials | 14.2% |
|  Consumer Discretionary | 9.8% |
|  Financials | 5.0% |
|  Health Care | 4.5% |
|  Short-Term Investment Fund | 0.3% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg018.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TLGYX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Large Company Growth Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| DSMLX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Large Company Growth Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $36 | 0.71% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $163007299 |
|  Total number of portfolio holdings | 26 |
|  Portfolio turnover rate | 20% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Information Technology | 47.8% |
|  Communication Services | 18.5% |
|  Industrials | 14.2% |
|  Consumer Discretionary | 9.8% |
|  Financials | 5.0% |
|  Health Care | 4.5% |
|  Short-Term Investment Fund | 0.3% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg019.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-DSMLX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Small Company Fund**<br> **[CLASS A](#Toc) \| SAGWX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Small Company Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $59 | 1.11% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1448821950 |
|  Total number of portfolio holdings | 76 |
|  Portfolio turnover rate | 31% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Health Care | 20.9% |
|  Information Technology | 20.4% |
|  Industrials | 17.2% |
|  Consumer Discretionary | 14.3% |
|  Financials | 9.4% |
|  Energy | 6.1% |
|  Real Estate | 6.0% |
|  Communication Services | 3.0% |
|  Materials | 2.0% |
|  Short-Term Investment Funds | 0.8% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg020.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SAGWX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Small Company Fund**<br> **[CLASS C](#Toc) \| SSCOX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Small Company Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $103 | 1.95% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1448821950 |
|  Total number of portfolio holdings | 76 |
|  Portfolio turnover rate | 31% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Health Care | 20.9% |
|  Information Technology | 20.4% |
|  Industrials | 17.2% |
|  Consumer Discretionary | 14.3% |
|  Financials | 9.4% |
|  Energy | 6.1% |
|  Real Estate | 6.0% |
|  Communication Services | 3.0% |
|  Materials | 2.0% |
|  Short-Term Investment Funds | 0.8% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg021.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SSCOX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Small Company Fund**<br> **[CLASS Y](#Toc) \| SIGWX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Small Company Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $47 | 0.89% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1448821950 |
|  Total number of portfolio holdings | 76 |
|  Portfolio turnover rate | 31% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Health Care | 20.9% |
|  Information Technology | 20.4% |
|  Industrials | 17.2% |
|  Consumer Discretionary | 14.3% |
|  Financials | 9.4% |
|  Energy | 6.1% |
|  Real Estate | 6.0% |
|  Communication Services | 3.0% |
|  Materials | 2.0% |
|  Short-Term Investment Funds | 0.8% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg022.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SIGWX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Small Company Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| TICSX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Small Company Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $42 | 0.79% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1448821950 |
|  Total number of portfolio holdings | 76 |
|  Portfolio turnover rate | 31% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Health Care | 20.9% |
|  Information Technology | 20.4% |
|  Industrials | 17.2% |
|  Consumer Discretionary | 14.3% |
|  Financials | 9.4% |
|  Energy | 6.1% |
|  Real Estate | 6.0% |
|  Communication Services | 3.0% |
|  Materials | 2.0% |
|  Short-Term Investment Funds | 0.8% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg023.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TICSX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Small Company Fund**<br> **[CLASS R6](#Toc) \| SSRRX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Small Company Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class R6 | $42 | 0.79% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $1448821950 |
|  Total number of portfolio holdings | 76 |
|  Portfolio turnover rate | 31% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Health Care | 20.9% |
|  Information Technology | 20.4% |
|  Industrials | 17.2% |
|  Consumer Discretionary | 14.3% |
|  Financials | 9.4% |
|  Energy | 6.1% |
|  Real Estate | 6.0% |
|  Communication Services | 3.0% |
|  Materials | 2.0% |
|  Short-Term Investment Funds | 0.8% |
|  Other Assets/Liabilities (Net) | (0.1)% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg024.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-SSRRX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Value Fund**<br> **[CLASS A](#Toc) \| TVLAX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class A | $57 | 1.08% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $588287164 |
|  Total number of portfolio holdings | 51 |
|  Portfolio turnover rate | 21% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 23.4% |
|  Health Care | 11.9% |
|  Information Technology | 11.7% |
|  Consumer Discretionary | 10.3% |
|  Utilities | 8.3% |
|  Industrials | 7.4% |
|  Energy | 6.9% |
|  Materials | 5.5% |
|  Real Estate | 4.6% |
|  Consumer Staples | 4.1% |
|  Communication Services | 3.3% |
|  Short-Term Investment Fund | 2.2% |
|  Other Assets/Liabilities (Net) | 0.4% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg025.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TVLAX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Value Fund**<br> **[CLASS C](#Toc) \| TVLCX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class C | $93 | 1.77% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $588287164 |
|  Total number of portfolio holdings | 51 |
|  Portfolio turnover rate | 21% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 23.4% |
|  Health Care | 11.9% |
|  Information Technology | 11.7% |
|  Consumer Discretionary | 10.3% |
|  Utilities | 8.3% |
|  Industrials | 7.4% |
|  Energy | 6.9% |
|  Materials | 5.5% |
|  Real Estate | 4.6% |
|  Consumer Staples | 4.1% |
|  Communication Services | 3.3% |
|  Short-Term Investment Fund | 2.2% |
|  Other Assets/Liabilities (Net) | 0.4% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg026.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TVLCX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Value Fund**<br> **[CLASS Y](#Toc) \| TVLYX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class Y | $44 | 0.83% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $588287164 |
|  Total number of portfolio holdings | 51 |
|  Portfolio turnover rate | 21% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 23.4% |
|  Health Care | 11.9% |
|  Information Technology | 11.7% |
|  Consumer Discretionary | 10.3% |
|  Utilities | 8.3% |
|  Industrials | 7.4% |
|  Energy | 6.9% |
|  Materials | 5.5% |
|  Real Estate | 4.6% |
|  Consumer Staples | 4.1% |
|  Communication Services | 3.3% |
|  Short-Term Investment Fund | 2.2% |
|  Other Assets/Liabilities (Net) | 0.4% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg027.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TVLYX-2512 \| 1

------

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Value Fund**<br> **[INSTITUTIONAL CLASS](#Toc) \| TVLIX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Institutional Class | $36 | 0.68% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $588287164 |
|  Total number of portfolio holdings | 51 |
|  Portfolio turnover rate | 21% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 23.4% |
|  Health Care | 11.9% |
|  Information Technology | 11.7% |
|  Consumer Discretionary | 10.3% |
|  Utilities | 8.3% |
|  Industrials | 7.4% |
|  Energy | 6.9% |
|  Materials | 5.5% |
|  Real Estate | 4.6% |
|  Consumer Staples | 4.1% |
|  Communication Services | 3.3% |
|  Short-Term Investment Fund | 2.2% |
|  Other Assets/Liabilities (Net) | 0.4% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg028.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TVLIX-2512 \| 1

---

| | |
|:---|:---|
| ![LOGO](tm266675d1_tsrimg001.jpg)  | <br> **Touchstone Value Fund**<br> **[CLASS R6](#Toc) \| TVLRX**<br> **SEMI-ANNUAL SHAREHOLDER REPORT \| DECEMBER 31, 2025** |

---

This semi-annual shareholder report contains important information about the Touchstone Value Fund ("Fund") for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at <u>touchstoneinvestments.com/mutual-funds</u>. You can also request this information by contacting us at 800.543.0407.

#### Fund Expenses

---

| | | |
|:---|:---|:---|
| Class | **Costs of a $10,000**<br> **investment** | **Costs paid as a percentage**<br> **of a $10,000 investment** |
|  Class R6 | $33 | 0.63% |

---

#### Key Fund Statistics

---

| | |
|:---|:---|
|  Fund net assets | $588287164 |
|  Total number of portfolio holdings | 51 |
|  Portfolio turnover rate | 21% |

---

#### Graphical Representation of Holdings

---

| | |
|:---|:---|
| SECTOR ALLOCATION (% OF NET ASSETS) | SECTOR ALLOCATION (% OF NET ASSETS) |
|  Financials | 23.4% |
|  Health Care | 11.9% |
|  Information Technology | 11.7% |
|  Consumer Discretionary | 10.3% |
|  Utilities | 8.3% |
|  Industrials | 7.4% |
|  Energy | 6.9% |
|  Materials | 5.5% |
|  Real Estate | 4.6% |
|  Consumer Staples | 4.1% |
|  Communication Services | 3.3% |
|  Short-Term Investment Fund | 2.2% |
|  Other Assets/Liabilities (Net) | 0.4% |
|  Total | 100.0% |

---

---

| | |
|:---|:---|
| **Availability of Additional Information** | **Availability of Additional Information** |
| ![LOGO](tm266675d1_tsrimg029.jpg)  | &nbsp;&nbsp;&nbsp; <br> You can find additional information about the Fund such as the prospectus, financial information and fund holdings at <u>touchstoneinvestments.com/mutual-funds</u> or scan the QR code. Information about the fund's proxy voting information and privacy policy is located in the Regulatory section of our website at <u>touchstoneinvestments.com/Resources</u>. You can also request this information by contacting us at 800.543.0407. |

---

TSF-TST-SR-TVLRX-2512 \| 1

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**Item 2. Code of Ethics.**

Not applicable.

**Item 3. Audit Committee Financial Expert.**

Not applicable.

**Item 4. Principal Accountant Fees and Services.**

Not applicable.

**Item 5. Audit Committee of Listed Registrants.**

Not applicable.

**Item 6. Investments.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report
to shareholders filed under Item 7 of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

The financial statements including the financial highlights are attached herewith.

December 31, 2025 (Unaudited)

## Semi-Annual

## Financial Statements

---

| |
|:---|
| **Touchstone Strategic Trust** |
| Touchstone Balanced Fund |
| Touchstone Core Municipal Bond Fund |
| Touchstone International Value Fund |
| Touchstone Large Cap Focused Fund |
| Touchstone Large Cap Fund |
| Touchstone Large Company Growth Fund |
| Touchstone Small Company Fund |
| Touchstone Value Fund |

---

![](tm266675d1financialsi001.gif)

------

**Table of Contents**

---

| | |
|:---|:---|
|  | Page |
| [Portfolios of Investments:](#xx_29c7a412-070a-415f-850c-4a8069dae351_1tm266675d1_financials) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Balanced Fund](#xx_29c7a412-070a-415f-850c-4a8069dae351_1tm266675d1_financials) | 3-9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Core Municipal Bond Fund](#xx_6ceea772-b3fd-4930-9f00-4cf82a2edb33_1tm266675d1_financials) | 10-11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone International Value Fund](#xx_bddbe701-42d1-4345-be20-c5821ad6ead1_1tm266675d1_financials) | 12-14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Large Cap Focused Fund](#xx_aabb7be8-87cd-497c-912d-89d71e94949a_1tm266675d1_financials) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Large Cap Fund](#xx_d84e53e8-5fd4-46f0-8aa0-b62f070e1909_1tm266675d1_financials) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Large Company Growth Fund](#xx_9b55054f-cee6-475e-85fa-2c839eec5592_1tm266675d1_financials) | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Small Company Fund](#xx_4dbc2e62-217b-45ef-80fc-2c6f88ebef21_1tm266675d1_financials) | 18-19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Value Fund](#xx_dfce0aae-f13b-4423-9429-ea4111e7fb69_1tm266675d1_financials) | 20 |
| [Statements of Assets and Liabilities](#xx_6e1ad844-d4df-4aa6-8a6e-61065a63cf06_2tm266675d1_financials) | 22-25 |
| [Statements of Operations](#xx_a4a6aa54-fe45-4c0e-bd9d-b1feb43e7f43_1tm266675d1_financials) | 26-27 |
| [Statements of Changes in Net Assets](#xx_e81f11ef-9f41-4338-ae97-1e1491f1c96f_1tm266675d1_financials) | 28-30 |
| [Statements of Changes in Net Assets - Capital Stock Activity](#xx_72ca7b6e-b857-4b37-8d3c-f827a25e6445_2tm266675d1_financials) | 32-35 |
| [Financial Highlights](#xx_30b21d5f-0442-4cf9-be08-37cbe72f7aeb_1tm266675d1_financials) | 36-43 |
| [Notes to Financial Statements](#xx_ee282228-000c-48f3-9fe6-6a04e7648157_1tm266675d1_financials) | 44-58 |
| [Other Items](#xx_cee498ab-6ae0-407f-806e-aa3908b77385_1tm266675d1_financials) | 59-63 |

---

This report identifies the Funds' investments on December 31, 2025. These holdings are subject to change. Not all investments in each Fund performed the same, nor is there any guarantee that these investments will perform as well in the future. Market forecasts provided in this report may not occur.

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Balanced Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 64.2%** |  |
|  | &nbsp;&nbsp;**Information Technology — 22.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;187186 | &nbsp;&nbsp;Apple, Inc. | $50888386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37678 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 9682869 |
| &nbsp;&nbsp;&nbsp;&nbsp;125789 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 60834076 |
| &nbsp;&nbsp;&nbsp;&nbsp;208841 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 38948846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83434 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 16262121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47914 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 12692898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48376 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 14700983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53200 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 9229668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33552 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 7206299 |
|  |  | &nbsp;&nbsp; 220446146 |
|  | &nbsp;&nbsp;**Communication Services — 11.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;185118 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 58090028 |
| &nbsp;&nbsp;&nbsp;&nbsp;185727 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 5551380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65421 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 43183748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49740 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 4663622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50137 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 5704087 |
|  |  | &nbsp;&nbsp; 117192865 |
|  | &nbsp;&nbsp;**Financials — 8.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;223067 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 12268685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20496 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 10302314 |
| &nbsp;&nbsp;&nbsp;&nbsp;134356 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 13423508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15437 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 13569123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19521 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 6972316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6155 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 13231096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50702 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 17781698 |
|  |  | &nbsp;&nbsp; 87548740 |
|  | &nbsp;&nbsp;**Health Care — 6.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54072 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 10493753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58478 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 3475348 |
| &nbsp;&nbsp;&nbsp;&nbsp;140997 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 7605378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15621 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 7292820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73072 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 15122251 |
| &nbsp;&nbsp;&nbsp;&nbsp;133703 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 12843510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24467 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 8076801 |
|  |  | &nbsp;&nbsp; 64909861 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76270 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 10351364 |
| &nbsp;&nbsp;&nbsp;&nbsp;158995 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 36699226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81521 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 5306202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44414 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 3740103 |
|  |  | &nbsp;&nbsp; 56096895 |
|  | &nbsp;&nbsp;**Industrials — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57581 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 12501987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14129 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 6578039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14559 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 6465798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99553 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp; 8702923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56962 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 4231137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61564 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 5030394 |
|  |  | &nbsp;&nbsp; 43510278 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29897 | &nbsp;&nbsp;Diageo PLC (United Kingdom) ADR | &nbsp;&nbsp; 2579214 |
| &nbsp;&nbsp;&nbsp;&nbsp;115420 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 8849252 |
| &nbsp;&nbsp;&nbsp;&nbsp;101858 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 16338023 |
|  |  | &nbsp;&nbsp; 27766489 |
|  | &nbsp;&nbsp;**Energy — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;104592 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 12586601 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 64.2% (Continued)** |  |
|  | &nbsp;&nbsp;**Real Estate — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30037 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | $10106549 |
|  | &nbsp;&nbsp;**Materials — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61501 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 4144552 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;&nbsp;&nbsp;$644308976 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9%** |  |
|  | &nbsp;&nbsp;**Financials — 3.4%** |  |
| $924000 | &nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 3.000%, 10/29/28 | &nbsp;&nbsp; 896122 |
| &nbsp;&nbsp; 764000 | &nbsp;&nbsp;Aircastle Ltd. / Aircastle Ireland DAC, 144a, 5.000%, 9/15/30 | &nbsp;&nbsp; 771721 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 7.000%, 1/15/31 | &nbsp;&nbsp; 44611 |
| &nbsp;&nbsp; 135000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.051%, 8/15/53<sup>(A)</sup> | &nbsp;&nbsp; 135028 |
| &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;American Express Co., 5.282%, 7/27/29 | &nbsp;&nbsp; 1339329 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Asurion LLC and Asurion Co-Issuer, Inc., 144a, 8.000%, 12/31/32 | &nbsp;&nbsp; 53950 |
| &nbsp;&nbsp; 802000 | &nbsp;&nbsp;Bank of America Corp., 2.687%, 4/22/32 | &nbsp;&nbsp; 736700 |
| &nbsp;&nbsp; 815000 | &nbsp;&nbsp;Bank of America Corp., 3.705%, 4/24/28 | &nbsp;&nbsp; 811387 |
| &nbsp;&nbsp; 1040000 | &nbsp;&nbsp;Bank of America Corp., 5.511%, 1/24/36 | &nbsp;&nbsp; 1087336 |
| &nbsp;&nbsp; 932000 | &nbsp;&nbsp;Bank of Montreal (Canada), 3.803%, 12/15/32 | &nbsp;&nbsp; 921076 |
| &nbsp;&nbsp; 1020000 | &nbsp;&nbsp;Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | &nbsp;&nbsp; 1101270 |
| &nbsp;&nbsp; 1225000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 2.894%, 11/24/32 | &nbsp;&nbsp; 1114552 |
| &nbsp;&nbsp; 690000 | &nbsp;&nbsp;Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | &nbsp;&nbsp; 581186 |
| &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;Citigroup, Inc., 4.542%, 9/19/30 | &nbsp;&nbsp; 1765200 |
| &nbsp;&nbsp; 645000 | &nbsp;&nbsp;Citigroup, Inc., 6.174%, 5/25/34 | &nbsp;&nbsp; 686020 |
| &nbsp;&nbsp; 50000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 52258 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 35042 |
| &nbsp;&nbsp; 812000 | &nbsp;&nbsp;First Maryland Capital I, (TSFR3M + 1.262%), 5.166%, 1/15/27<sup>(A)</sup> | &nbsp;&nbsp; 804094 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;FirstCash, Inc., 144a, 4.625%, 9/1/28 | &nbsp;&nbsp; 25834 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 6.875%, 5/1/31 | &nbsp;&nbsp; 14012 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 64795 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 9.250%, 12/1/28 | &nbsp;&nbsp; 78142 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 6.875%, 5/15/30 | &nbsp;&nbsp; 24817 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 7.625%, 7/1/29 | &nbsp;&nbsp; 16816 |
| &nbsp;&nbsp; 1213000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | &nbsp;&nbsp; 1107054 |
| &nbsp;&nbsp; 674000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | &nbsp;&nbsp; 670472 |
| &nbsp;&nbsp; 692000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 693886 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Jane Street Group / JSG Finance, Inc., 144a, 6.125%, 11/1/32<sup>†</sup> | &nbsp;&nbsp; 58006 |
| &nbsp;&nbsp; 1276000 | &nbsp;&nbsp;JPMorgan Chase & Co., 2.956%, 5/13/31 | &nbsp;&nbsp; 1204728 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;JPMorgan Chase & Co., 3.509%, 1/23/29 | &nbsp;&nbsp; 990725 |
| &nbsp;&nbsp; 816000 | &nbsp;&nbsp;JPMorgan Chase & Co., 4.946%, 10/22/35 | &nbsp;&nbsp; 825840 |
| &nbsp;&nbsp; 1211000 | &nbsp;&nbsp;Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29 | &nbsp;&nbsp; 1269882 |
| &nbsp;&nbsp; 878000 | &nbsp;&nbsp;Marsh & McLennan Cos., Inc., 5.350%, 11/15/44 | &nbsp;&nbsp; 862001 |
| &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;Mastercard, Inc., 2.000%, 11/18/31 | &nbsp;&nbsp; 1114922 |
| &nbsp;&nbsp; 978000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 861035 |
| &nbsp;&nbsp; 1086000 | &nbsp;&nbsp;Morgan Stanley, 3.950%, 4/23/27 | &nbsp;&nbsp; 1085343 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Navient Corp., 4.875%, 3/15/28<sup>†</sup> | &nbsp;&nbsp; 13843 |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;Navient Corp., 5.000%, 3/15/27 | &nbsp;&nbsp; 34064 |
| &nbsp;&nbsp; 948000 | &nbsp;&nbsp;New York Life Global Funding, 144a, 4.550%, 1/28/33 | &nbsp;&nbsp; 946700 |
| &nbsp;&nbsp; 1220708 | &nbsp;&nbsp;Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | &nbsp;&nbsp; 951437 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 3.4% (Continued)** |  |
| $25000 | &nbsp;&nbsp;OneMain Finance Corp., 3.875%, 9/15/28 | $24363 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;OneMain Finance Corp., 4.000%, 9/15/30 | &nbsp;&nbsp; 16873 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;OneMain Finance Corp., 6.625%, 5/15/29 | &nbsp;&nbsp; 20712 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 3/15/26 | &nbsp;&nbsp; 15114 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 4.250%, 2/15/29 | &nbsp;&nbsp; 30319 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 5.750%, 9/15/31 | &nbsp;&nbsp; 17070 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.875%, 12/15/29 | &nbsp;&nbsp; 21281 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.125%, 11/15/30 | &nbsp;&nbsp; 22075 |
| &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 4.624%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 1377809 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.375%, 2/1/28 | &nbsp;&nbsp; 13292 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.875%, 1/31/30 | &nbsp;&nbsp; 67245 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 6.500%, 8/1/29 | &nbsp;&nbsp; 21659 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 57860 |
| &nbsp;&nbsp; 1105000 | &nbsp;&nbsp;Royal Bank of Canada (Canada), 4.969%, 8/2/30 | &nbsp;&nbsp; 1132586 |
| &nbsp;&nbsp; 104000 | &nbsp;&nbsp;SBL Holdings, Inc., 144a, 9.508%<sup>(B)</sup> | &nbsp;&nbsp; 106080 |
| &nbsp;&nbsp; 1766000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 4.985%, 6/15/47<sup>(A)</sup> | &nbsp;&nbsp; 1577854 |
| &nbsp;&nbsp; 1986000 | &nbsp;&nbsp;Teachers Insurance & Annuity Association of America, 144a, 3.300%, 5/15/50 | &nbsp;&nbsp; 1366770 |
| &nbsp;&nbsp; 1844000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 4.783%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 1832635 |
| &nbsp;&nbsp; 807000 | &nbsp;&nbsp;US Bancorp, 4.967%, 7/22/33 | &nbsp;&nbsp; 814198 |
|  |  | &nbsp;&nbsp; 34387031 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.8%** |  |
| &nbsp;&nbsp; 1795000 | &nbsp;&nbsp;7-Eleven, Inc., 144a, 1.800%, 2/10/31 | &nbsp;&nbsp; 1573339 |
| &nbsp;&nbsp; 100000 | &nbsp;&nbsp;ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 101239 |
| &nbsp;&nbsp; 63120 | &nbsp;&nbsp;Air Canada Pass-Through Trust (Canada), Ser 2015-1, Class A, 144a, 3.600%, 3/15/27 | &nbsp;&nbsp; 62408 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 144a, 7.500%, 3/15/31 | &nbsp;&nbsp; 21296 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 58790 |
| &nbsp;&nbsp; 1170000 | &nbsp;&nbsp;BMW US Capital LLC (Germany), 144a, 4.500%, 8/11/30 | &nbsp;&nbsp; 1176754 |
| &nbsp;&nbsp; 105000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.750%, 8/1/32 | &nbsp;&nbsp; 107783 |
| &nbsp;&nbsp; 95000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.875%, 6/15/31 | &nbsp;&nbsp; 98126 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Carnival Corp., 144a, 6.125%, 2/15/33 | &nbsp;&nbsp; 14456 |
| &nbsp;&nbsp; 33000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 31755 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Champ Acquisition Corp., 144a, 8.375%, 12/1/31 | &nbsp;&nbsp; 61575 |
| &nbsp;&nbsp; 151000 | &nbsp;&nbsp;Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | &nbsp;&nbsp; 154021 |
| &nbsp;&nbsp; 1178000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 1185274 |
| &nbsp;&nbsp; 1322000 | &nbsp;&nbsp;Ferguson Enterprises, Inc., 4.350%, 3/15/31 | &nbsp;&nbsp; 1318608 |
| &nbsp;&nbsp; 2018000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 1841899 |
| &nbsp;&nbsp; 856000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 852560 |
| &nbsp;&nbsp; 720000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 719375 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Goodyear Tire & Rubber Co. (The), 5.625%, 4/30/33 | &nbsp;&nbsp; 28416 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Graham Holdings Co., 144a, 5.625%, 12/1/33 | &nbsp;&nbsp; 46440 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | &nbsp;&nbsp; 62744 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 6.375%, 1/15/30 | &nbsp;&nbsp; 14409 |
| &nbsp;&nbsp; 605000 | &nbsp;&nbsp;Home Depot, Inc. (The), 5.950%, 4/1/41 | &nbsp;&nbsp; 649290 |
| &nbsp;&nbsp; 999000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.350%, 3/19/29 | &nbsp;&nbsp; 1028316 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;JB Poindexter & Co., Inc., 144a, 8.750%, 12/15/31 | &nbsp;&nbsp; 57611 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;LGI Homes, Inc., 144a, 7.000%, 11/15/32 | &nbsp;&nbsp; 38235 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;Light & Wonder International, Inc., 144a, 6.250%, 10/1/33 | &nbsp;&nbsp; 76918 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.8% (Continued)** |  |
| $51000 | &nbsp;&nbsp;Lithia Motors, Inc., 144a, 5.500%, 10/1/30 | $51202 |
| &nbsp;&nbsp; 1010000 | &nbsp;&nbsp;Lowe's Cos., Inc., 4.500%, 4/15/30 | &nbsp;&nbsp; 1023565 |
| &nbsp;&nbsp; 975000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | &nbsp;&nbsp; 919127 |
| &nbsp;&nbsp; 1456000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 1430979 |
| &nbsp;&nbsp; 220000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28 | &nbsp;&nbsp; 211499 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 6.750%, 2/1/32 | &nbsp;&nbsp; 29694 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;Newell Brands, Inc., 6.375%, 9/15/27 | &nbsp;&nbsp; 37145 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Newell Brands, Inc., 6.625%, 5/15/32 | &nbsp;&nbsp; 20373 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Nissan Motor Co. Ltd. (Japan), 144a, 4.810%, 9/17/30 | &nbsp;&nbsp; 188567 |
| &nbsp;&nbsp; 1006000 | &nbsp;&nbsp;Polaris, Inc., 5.600%, 3/1/31 | &nbsp;&nbsp; 1017252 |
| &nbsp;&nbsp; 51000 | &nbsp;&nbsp;Sonic Automotive, Inc., 144a, 4.625%, 11/15/29 | &nbsp;&nbsp; 50064 |
| &nbsp;&nbsp; 106000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 105517 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.625%, 12/1/31<sup>†</sup> | &nbsp;&nbsp; 36972 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Taylor Morrison Communities, Inc., 144a, 5.125%, 8/1/30 | &nbsp;&nbsp; 35215 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Taylor Morrison Communities, Inc., 144a, 5.750%, 11/15/32 | &nbsp;&nbsp; 10289 |
| &nbsp;&nbsp; 1347000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 1341035 |
| &nbsp;&nbsp; 50000 | &nbsp;&nbsp;Upbound Group, Inc., 144a, 6.375%, 2/15/29 | &nbsp;&nbsp; 49371 |
| &nbsp;&nbsp; 149000 | &nbsp;&nbsp;Voyager Parent LLC, 144a, 9.250%, 7/1/32 | &nbsp;&nbsp; 158095 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 4.279%, 3/15/32<sup>†</sup> | &nbsp;&nbsp; 24579 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 5.050%, 3/15/42 | &nbsp;&nbsp; 43772 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Wynn Macau Ltd. (Macao), 144a, 5.125%, 12/15/29 | &nbsp;&nbsp; 197988 |
|  |  | &nbsp;&nbsp; 18363937 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.6%** |  |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;ACCO Brands Corp., 144a, 4.250%, 3/15/29 | &nbsp;&nbsp; 40794 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Allied Universal Holdco LLC, 144a, 7.875%, 2/15/31 | &nbsp;&nbsp; 44263 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;AMN Healthcare, Inc., 144a, 6.500%, 1/15/31 | &nbsp;&nbsp; 76020 |
| &nbsp;&nbsp; 672000 | &nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | &nbsp;&nbsp; 624384 |
| &nbsp;&nbsp; 995000 | &nbsp;&nbsp;Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28 | &nbsp;&nbsp; 984424 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.000%, 2/15/31 | &nbsp;&nbsp; 27748 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | &nbsp;&nbsp; 20698 |
| &nbsp;&nbsp; 1101000 | &nbsp;&nbsp;BAT Capital Corp. (United Kingdom), 2.259%, 3/25/28 | &nbsp;&nbsp; 1059726 |
| &nbsp;&nbsp; 1074000 | &nbsp;&nbsp;Cargill, Inc., 144a, 4.760%, 11/23/45 | &nbsp;&nbsp; 972902 |
| &nbsp;&nbsp; 1876000 | &nbsp;&nbsp;Coca-Cola Co. (The), 2.500%, 3/15/51 | &nbsp;&nbsp; 1130155 |
| &nbsp;&nbsp; 1254000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 1282846 |
| &nbsp;&nbsp; 1091000 | &nbsp;&nbsp;ERAC USA Finance LLC, 144a, 4.200%, 11/1/46 | &nbsp;&nbsp; 907915 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Garda World Security Corp. (Canada), 144a, 6.500%, 1/15/31 | &nbsp;&nbsp; 6140 |
| &nbsp;&nbsp; 1206000 | &nbsp;&nbsp;Global Payments, Inc., 5.200%, 11/15/32 | &nbsp;&nbsp; 1207837 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 5.750%, 3/15/31 | &nbsp;&nbsp; 16245 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 6.000%, 3/15/34 | &nbsp;&nbsp; 16207 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 6.625%, 6/15/29 | &nbsp;&nbsp; 21810 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Ingles Markets, Inc., 144a, 4.000%, 6/15/31 | &nbsp;&nbsp; 44414 |
| &nbsp;&nbsp; 635000 | &nbsp;&nbsp;Kroger Co. (The), 5.000%, 4/15/42 | &nbsp;&nbsp; 593456 |
| &nbsp;&nbsp; 697000 | &nbsp;&nbsp;Mars, Inc., 144a, 3.600%, 4/1/34 | &nbsp;&nbsp; 643986 |
| &nbsp;&nbsp; 878000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.200%, 3/1/35 | &nbsp;&nbsp; 904278 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 6.125%, 9/15/32 | &nbsp;&nbsp; 37113 |
| &nbsp;&nbsp; 1572000 | &nbsp;&nbsp;Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31 | &nbsp;&nbsp; 1367876 |
| &nbsp;&nbsp; 1349000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 1412983 |
| &nbsp;&nbsp; 32000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 4.625%, 4/15/30 | &nbsp;&nbsp; 31163 |
| &nbsp;&nbsp; 58000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.250%, 10/15/34 | &nbsp;&nbsp; 58322 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.500%, 3/15/36 | &nbsp;&nbsp; 26038 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;S&S Holdings LLC, 144a, 8.375%, 10/1/31 | &nbsp;&nbsp; 27790 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 1.6% (Continued)** |  |
| $27000 | &nbsp;&nbsp;Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 144a, 6.750%, 8/15/32 | $27876 |
| &nbsp;&nbsp; 84000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 80951 |
| &nbsp;&nbsp; 650000 | &nbsp;&nbsp;Starbucks Corp., 3.350%, 3/12/50 | &nbsp;&nbsp; 445158 |
| &nbsp;&nbsp; 130000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 138361 |
| &nbsp;&nbsp; 815000 | &nbsp;&nbsp;Tyson Foods, Inc., 5.400%, 3/15/29 | &nbsp;&nbsp; 842259 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;United Rentals North America, Inc., 144a, 5.375%, 11/15/33 | &nbsp;&nbsp; 13989 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Velocity Vehicle Group LLC, 144a, 8.000%, 6/1/29 | &nbsp;&nbsp; 45602 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;VT Topco, Inc., 144a, 8.500%, 8/15/30 | &nbsp;&nbsp; 41773 |
| &nbsp;&nbsp; 808000 | &nbsp;&nbsp;Walmart, Inc., 4.500%, 9/9/52 | &nbsp;&nbsp; 714394 |
|  |  | &nbsp;&nbsp; 15937896 |
|  | &nbsp;&nbsp;**Industrials — 1.3%** |  |
| &nbsp;&nbsp; 32000 | &nbsp;&nbsp;AAR Escrow Issuer LLC, 144a, 6.750%, 3/15/29 | &nbsp;&nbsp; 33112 |
| &nbsp;&nbsp; 1251000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | &nbsp;&nbsp; 1161112 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 45155 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 28840 |
| &nbsp;&nbsp; 58000 | &nbsp;&nbsp;BNSF Funding Trust I, 6.613%, 12/15/55 | &nbsp;&nbsp; 58028 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Brundage-Bone Concrete Pumping Holdings, Inc., 144a, 7.500%, 2/1/32 | &nbsp;&nbsp; 60227 |
| &nbsp;&nbsp; 983000 | &nbsp;&nbsp;Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | &nbsp;&nbsp; 1041473 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;BWX Technologies, Inc., 144a, 4.125%, 6/30/28 | &nbsp;&nbsp; 61065 |
| &nbsp;&nbsp; 1286000 | &nbsp;&nbsp;Canadian Pacific Railway Co. (Canada), 3.000%, 12/2/41 | &nbsp;&nbsp; 963976 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Cascades, Inc. / Cascades USA, Inc. (Canada), 144a, 5.375%, 1/15/28 | &nbsp;&nbsp; 26932 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Clearwater Paper Corp., 144a, 4.750%, 8/15/28 | &nbsp;&nbsp; 55165 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., 144a, 6.750%, 4/15/32 | &nbsp;&nbsp; 13368 |
| &nbsp;&nbsp; 33000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.625%, 12/15/30 | &nbsp;&nbsp; 34397 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.750%, 7/15/31<sup>†</sup> | &nbsp;&nbsp; 11593 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 5.500%, 5/1/28 | &nbsp;&nbsp; 14016 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.000%, 6/15/32 | &nbsp;&nbsp; 8410 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.875%, 12/1/30 | &nbsp;&nbsp; 7445 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Goat Holdco LLC, 144a, 6.750%, 2/1/32 | &nbsp;&nbsp; 42024 |
| &nbsp;&nbsp; 82000 | &nbsp;&nbsp;Imola Merger Corp., 144a, 4.750%, 5/15/29 | &nbsp;&nbsp; 80936 |
| &nbsp;&nbsp; 1004000 | &nbsp;&nbsp;John Deere Capital Corp., MTN, 5.100%, 4/11/34 | &nbsp;&nbsp; 1039970 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 43064 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Mauser Packaging Solutions Holding Co., 144a, 7.875%, 4/15/30 | &nbsp;&nbsp; 56830 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Moog, Inc., 144a, 4.250%, 12/15/27 | &nbsp;&nbsp; 56454 |
| &nbsp;&nbsp; 808000 | &nbsp;&nbsp;Norfolk Southern Corp., 4.837%, 10/1/41 | &nbsp;&nbsp; 763683 |
| &nbsp;&nbsp; 50000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 51040 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.375%, 6/1/32<sup>†</sup> | &nbsp;&nbsp; 25372 |
| &nbsp;&nbsp; 685000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27 | &nbsp;&nbsp; 692862 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Quikrete Holdings, Inc., 144a, 6.375%, 3/1/32<sup>†</sup> | &nbsp;&nbsp; 41636 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;Roller Bearing Co. of America, Inc., 144a, 4.375%, 10/15/29 | &nbsp;&nbsp; 58063 |
| &nbsp;&nbsp; 864000 | &nbsp;&nbsp;RTX Corp., 6.400%, 3/15/54 | &nbsp;&nbsp; 953540 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Smyrna Ready Mix Concrete LLC, 144a, 8.875%, 11/15/31 | &nbsp;&nbsp; 37437 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.500%, 8/15/32 | &nbsp;&nbsp; 10295 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Standard Industries, Inc., 144a, 3.375%, 1/15/31<sup>†</sup> | &nbsp;&nbsp; 25672 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 1.3% (Continued)** |  |
| $84000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | $84134 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 39156 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Terex Corp., 144a, 5.000%, 5/15/29 | &nbsp;&nbsp; 13952 |
| &nbsp;&nbsp; 54000 | &nbsp;&nbsp;Terex Corp., 144a, 6.250%, 10/15/32 | &nbsp;&nbsp; 55401 |
| &nbsp;&nbsp; 2228000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 5.848%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 2007796 |
| &nbsp;&nbsp; 1358000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 1368875 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;TK Elevator US Newco, Inc. (Germany), 144a, 5.250%, 7/15/27 | &nbsp;&nbsp; 200048 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.375%, 3/1/29 | &nbsp;&nbsp; 36094 |
| &nbsp;&nbsp; 53000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.625%, 3/1/32 | &nbsp;&nbsp; 55145 |
| &nbsp;&nbsp; 1104000 | &nbsp;&nbsp;United Parcel Service, Inc., 5.950%, 5/14/55 | &nbsp;&nbsp; 1144581 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/29 | &nbsp;&nbsp; 21686 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 12529 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.625%, 3/15/32 | &nbsp;&nbsp; 21928 |
| &nbsp;&nbsp; 256000 | &nbsp;&nbsp;WestRock MWV LLC, 8.200%, 1/15/30 | &nbsp;&nbsp; 291543 |
| &nbsp;&nbsp; 73000 | &nbsp;&nbsp;XPO, Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 76758 |
|  |  | &nbsp;&nbsp; 13032818 |
|  | &nbsp;&nbsp;**Energy — 1.3%** |  |
| &nbsp;&nbsp; 1236000 | &nbsp;&nbsp;Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | &nbsp;&nbsp; 1211366 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Bristow Group, Inc., 144a, 6.875%, 3/1/28 | &nbsp;&nbsp; 52063 |
| &nbsp;&nbsp; 84000 | &nbsp;&nbsp;Buckeye Partners LP, 144a, 6.875%, 7/1/29 | &nbsp;&nbsp; 87366 |
| &nbsp;&nbsp; 1126000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 1038736 |
| &nbsp;&nbsp; 355000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 4.000%, 3/1/31 | &nbsp;&nbsp; 346050 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Civitas Resources, Inc., 144a, 8.375%, 7/1/28 | &nbsp;&nbsp; 48426 |
| &nbsp;&nbsp; 251000 | &nbsp;&nbsp;CQP Holdco LP / BIP-V Chinook Holdco LLC, 144a, 5.500%, 6/15/31 | &nbsp;&nbsp; 248319 |
| &nbsp;&nbsp; 1063000 | &nbsp;&nbsp;DCP Midstream Operating LP, 144a, 6.750%, 9/15/37 | &nbsp;&nbsp; 1158167 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Diamond Foreign Asset Co. / Diamond Finance LLC, 144a, 8.500%, 10/1/30 | &nbsp;&nbsp; 11658 |
| &nbsp;&nbsp; 103000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser NC5, 8.250%, 1/15/84 | &nbsp;&nbsp; 110213 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Energy Transfer LP, 8.000%, 5/15/54 | &nbsp;&nbsp; 41630 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Energy Transfer LP, Ser G, 7.125%<sup>(B)</sup> | &nbsp;&nbsp; 14339 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 7.875%, 5/15/32 | &nbsp;&nbsp; 27100 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.250%, 1/15/29 | &nbsp;&nbsp; 26099 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.875%, 4/15/30 | &nbsp;&nbsp; 43093 |
| &nbsp;&nbsp; 1174000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 1174227 |
| &nbsp;&nbsp; 32000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | &nbsp;&nbsp; 31645 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 4/15/30 | &nbsp;&nbsp; 17490 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.875%, 5/15/34 | &nbsp;&nbsp; 24358 |
| &nbsp;&nbsp; 51000 | &nbsp;&nbsp;Kinetik Holdings LP, 144a, 5.875%, 6/15/30 | &nbsp;&nbsp; 51450 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 144a, 6.875%, 12/1/32 | &nbsp;&nbsp; 58602 |
| &nbsp;&nbsp; 562731 | &nbsp;&nbsp;MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | &nbsp;&nbsp; 493493 |
| &nbsp;&nbsp; 1161000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 1163199 |
| &nbsp;&nbsp; 1244000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 1447168 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Noble Finance II LLC, 144a, 8.000%, 4/15/30 | &nbsp;&nbsp; 7273 |
| &nbsp;&nbsp; 1046000 | &nbsp;&nbsp;Occidental Petroleum Corp., 7.950%, 6/15/39 | &nbsp;&nbsp; 1230095 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Prairie Acquiror LP, 144a, 9.000%, 8/1/29 | &nbsp;&nbsp; 40534 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 35393 |
| &nbsp;&nbsp; 7000 | &nbsp;&nbsp;Rockies Express Pipeline LLC, 144a, 4.800%, 5/15/30 | &nbsp;&nbsp; 6884 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Rockies Express Pipeline LLC, 144a, 7.500%, 7/15/38 | &nbsp;&nbsp; 22850 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 1.3% (Continued)** |  |
| $1418000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | $1256686 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;SM Energy Co., 144a, 6.750%, 8/1/29 | &nbsp;&nbsp; 21154 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 34407 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Sunoco LP, 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 45796 |
| &nbsp;&nbsp; 77000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 80109 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 7.000%, 1/15/30 | &nbsp;&nbsp; 33685 |
| &nbsp;&nbsp; 111000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 8.125%, 6/1/28 | &nbsp;&nbsp; 112432 |
| &nbsp;&nbsp; 58000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 9.000%<sup>(B)</sup> | &nbsp;&nbsp; 45804 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Vermilion Energy, Inc. (Canada), 144a, 6.875%, 5/1/30 | &nbsp;&nbsp; 39555 |
| &nbsp;&nbsp; 977000 | &nbsp;&nbsp;Western Midstream Operating LP, 5.250%, 2/1/50 | &nbsp;&nbsp; 838522 |
|  |  | &nbsp;&nbsp; 12777436 |
|  | &nbsp;&nbsp;**Communication Services — 1.1%** |  |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;AMC Networks, Inc., 144a, 10.250%, 1/15/29 | &nbsp;&nbsp; 32511 |
| &nbsp;&nbsp; 1327000 | &nbsp;&nbsp;AT&T, Inc., 3.800%, 12/1/57 | &nbsp;&nbsp; 916342 |
| &nbsp;&nbsp; 535000 | &nbsp;&nbsp;AT&T, Inc., 4.500%, 5/15/35 | &nbsp;&nbsp; 514864 |
| &nbsp;&nbsp; 118000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 108454 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 5/1/32 | &nbsp;&nbsp; 15258 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 6.375%, 9/1/29 | &nbsp;&nbsp; 29399 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 7.375%, 3/1/31 | &nbsp;&nbsp; 61229 |
| &nbsp;&nbsp; 151000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.750%, 3/1/30 | &nbsp;&nbsp; 144222 |
| &nbsp;&nbsp; 711000 | &nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | &nbsp;&nbsp; 669781 |
| &nbsp;&nbsp; 796000 | &nbsp;&nbsp;Comcast Corp., 4.000%, 3/1/48 | &nbsp;&nbsp; 600686 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Directv Financing LLC, 144a, 8.875%, 2/1/30 | &nbsp;&nbsp; 38511 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 48036 |
| &nbsp;&nbsp; 73000 | &nbsp;&nbsp;GCI LLC, 144a, 4.750%, 10/15/28 | &nbsp;&nbsp; 71178 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Gen Digital, Inc., 144a, 6.750%, 9/30/27 | &nbsp;&nbsp; 47699 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 7.000%, 3/31/34 | &nbsp;&nbsp; 50498 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Match Group Holdings II LLC, 144a, 4.625%, 6/1/28 | &nbsp;&nbsp; 20814 |
| &nbsp;&nbsp; 1335000 | &nbsp;&nbsp;Meta Platforms, Inc., 4.875%, 11/15/35 | &nbsp;&nbsp; 1335455 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 4.750%, 11/1/28<sup>†</sup> | &nbsp;&nbsp; 59571 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 5.625%, 7/15/27 | &nbsp;&nbsp; 55148 |
| &nbsp;&nbsp; 1357000 | &nbsp;&nbsp;Rogers Communications, Inc. (Canada), 5.300%, 2/15/34 | &nbsp;&nbsp; 1369941 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Sinclair Television Group, Inc., 144a, 8.125%, 2/15/33 | &nbsp;&nbsp; 12533 |
| &nbsp;&nbsp; 88000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 4.000%, 7/15/28 | &nbsp;&nbsp; 86033 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 50714 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;TEGNA, Inc., 4.625%, 3/15/28 | &nbsp;&nbsp; 26725 |
| &nbsp;&nbsp; 1178000 | &nbsp;&nbsp;T-Mobile USA, Inc., 3.875%, 4/15/30 | &nbsp;&nbsp; 1159653 |
| &nbsp;&nbsp; 566000 | &nbsp;&nbsp;T-Mobile USA, Inc., 5.750%, 1/15/54 | &nbsp;&nbsp; 557459 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.500%, 7/31/31 | &nbsp;&nbsp; 63711 |
| &nbsp;&nbsp; 1103000 | &nbsp;&nbsp;Verizon Communications, Inc., 2.987%, 10/30/56 | &nbsp;&nbsp; 659346 |
| &nbsp;&nbsp; 650000 | &nbsp;&nbsp;Verizon Communications, Inc., 5.875%, 11/30/55 | &nbsp;&nbsp; 644064 |
| &nbsp;&nbsp; 50000 | &nbsp;&nbsp;Versant Media Group, Inc., 144a, 7.250%, 1/30/31<sup>†</sup> | &nbsp;&nbsp; 51584 |
| &nbsp;&nbsp; 1634000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 1590127 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Zegona Finance PLC (United Kingdom), 144a, 8.625%, 7/15/29 | &nbsp;&nbsp; 212136 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Ziff Davis, Inc., 144a, 4.625%, 10/15/30 | &nbsp;&nbsp; 54136 |
|  |  | &nbsp;&nbsp; 11357818 |
|  | &nbsp;&nbsp;**Health Care — 0.9%** |  |
| &nbsp;&nbsp; 832000 | &nbsp;&nbsp;AbbVie, Inc., 4.450%, 5/14/46 | &nbsp;&nbsp; 725042 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 5.000%, 4/15/29 | &nbsp;&nbsp; 21189 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 0.9% (Continued)** |  |
| $28000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 5.500%, 7/1/28 | $27829 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 7.375%, 3/15/33 | &nbsp;&nbsp; 35350 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 4.625%, 8/1/29 | &nbsp;&nbsp; 27144 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 5.125%, 3/1/30 | &nbsp;&nbsp; 25361 |
| &nbsp;&nbsp; 917000 | &nbsp;&nbsp;Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49 | &nbsp;&nbsp; 702050 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Avantor Funding, Inc., 144a, 3.875%, 11/1/29 | &nbsp;&nbsp; 37300 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Becton Dickinson & Co., 4.685%, 12/15/44 | &nbsp;&nbsp; 621734 |
| &nbsp;&nbsp; 857000 | &nbsp;&nbsp;CommonSpirit Health, 4.187%, 10/1/49 | &nbsp;&nbsp; 674697 |
| &nbsp;&nbsp; 782000 | &nbsp;&nbsp;CVS Health Corp., 5.125%, 7/20/45<sup>†</sup> | &nbsp;&nbsp; 708103 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.875%, 9/1/32 | &nbsp;&nbsp; 29144 |
| &nbsp;&nbsp; 1036000 | &nbsp;&nbsp;DH Europe Finance II Sarl, 3.250%, 11/15/39 | &nbsp;&nbsp; 850999 |
| &nbsp;&nbsp; 942000 | &nbsp;&nbsp;Elevance Health, Inc., 4.750%, 2/15/33 | &nbsp;&nbsp; 946227 |
| &nbsp;&nbsp; 85000 | &nbsp;&nbsp;GENMAB A/S/GENMAB FINANCE LLC (Denmark), 144a, 7.250%, 12/15/33 | &nbsp;&nbsp; 89564 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;Global Medical Response, Inc., 144a, 7.375%, 10/1/32 | &nbsp;&nbsp; 74835 |
| &nbsp;&nbsp; 1234000 | &nbsp;&nbsp;HCA, Inc., 5.500%, 3/1/32 | &nbsp;&nbsp; 1287816 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Medline Borrower LP/Medline Co-Issuer, Inc., 144a, 6.250%, 4/1/29 | &nbsp;&nbsp; 19641 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 3.875%, 5/15/32 | &nbsp;&nbsp; 28162 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 4.375%, 6/15/28 | &nbsp;&nbsp; 21636 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 6.250%, 1/15/33 | &nbsp;&nbsp; 14272 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 6.500%, 2/15/31<sup>†</sup> | &nbsp;&nbsp; 18486 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;National Mentor Holdings, Inc., 144a, 10.500%, 12/15/30 | &nbsp;&nbsp; 28148 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Option Care Health, Inc., 144a, 4.375%, 10/31/29 | &nbsp;&nbsp; 29311 |
| &nbsp;&nbsp; 78000 | &nbsp;&nbsp;Pediatrix Medical Group, Inc., 144a, 5.375%, 2/15/30 | &nbsp;&nbsp; 77786 |
| &nbsp;&nbsp; 115000 | &nbsp;&nbsp;Tenet Healthcare Corp., 6.125%, 10/1/28 | &nbsp;&nbsp; 115520 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Tenet Healthcare Corp., 144a, 6.000%, 11/15/33 | &nbsp;&nbsp; 37065 |
| &nbsp;&nbsp; 832000 | &nbsp;&nbsp;Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | &nbsp;&nbsp; 839554 |
| &nbsp;&nbsp; 1062000 | &nbsp;&nbsp;UnitedHealth Group, Inc., 3.500%, 8/15/39 | &nbsp;&nbsp; 886774 |
|  |  | &nbsp;&nbsp; 9000739 |
|  | &nbsp;&nbsp;**Utilities — 0.9%** |  |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Algonquin Power & Utilities Corp. (Canada), 4.750%, 1/18/82 | &nbsp;&nbsp; 89741 |
| &nbsp;&nbsp; 54000 | &nbsp;&nbsp;AltaGas Ltd. (Canada), 144a, 7.200%, 10/15/54 | &nbsp;&nbsp; 55979 |
| &nbsp;&nbsp; 634000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 643942 |
| &nbsp;&nbsp; 1863000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 1832678 |
| &nbsp;&nbsp; 1286000 | &nbsp;&nbsp;Duke Energy Progress LLC, 4.150%, 12/1/44 | &nbsp;&nbsp; 1074435 |
| &nbsp;&nbsp; 719000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 710773 |
| &nbsp;&nbsp; 112000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | &nbsp;&nbsp; 116864 |
| &nbsp;&nbsp; 514000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 4.875%, 9/21/38 | &nbsp;&nbsp; 480639 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Georgia Power Co., 5.950%, 2/1/39 | &nbsp;&nbsp; 744279 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.250%, 4/20/46 | &nbsp;&nbsp; 38946 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 5.990%, 10/1/66<sup>(A)</sup> | &nbsp;&nbsp; 42868 |
| &nbsp;&nbsp; 1135000 | &nbsp;&nbsp;Ohio Power Co., Ser R, 2.900%, 10/1/51 | &nbsp;&nbsp; 701880 |
| &nbsp;&nbsp; 1266000 | &nbsp;&nbsp;Oncor Electric Delivery Co. LLC, 144a, 5.800%, 4/1/55 | &nbsp;&nbsp; 1278251 |
| &nbsp;&nbsp; 56000 | &nbsp;&nbsp;PacifiCorp, 7.375%, 9/15/55 | &nbsp;&nbsp; 57075 |
| &nbsp;&nbsp; 887000 | &nbsp;&nbsp;PacifiCorp., 5.750%, 4/1/37 | &nbsp;&nbsp; 900627 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Sempra, 4.125%, 4/1/52 | &nbsp;&nbsp; 89134 |
| &nbsp;&nbsp; 104000 | &nbsp;&nbsp;South Jersey Industries, Inc., 5.020%, 4/15/31<sup>†</sup> | &nbsp;&nbsp; 90183 |
|  |  | &nbsp;&nbsp; 8948294 |
|  | &nbsp;&nbsp;**Information Technology — 0.9%** |  |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Amentum Holdings, Inc., 144a, 7.250%, 8/1/32 | &nbsp;&nbsp; 12648 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;Amkor Technology, Inc., 144a, 5.875%, 10/1/33 | &nbsp;&nbsp; 50011 |
| &nbsp;&nbsp; 1424000 | &nbsp;&nbsp;Apple, Inc., 4.650%, 2/23/46 | &nbsp;&nbsp; 1311680 |
| &nbsp;&nbsp; 1481000 | &nbsp;&nbsp;Broadcom, Inc., 3.419%, 4/15/33 | &nbsp;&nbsp; 1374417 |
| &nbsp;&nbsp; 508000 | &nbsp;&nbsp;Cisco Systems, Inc., 4.850%, 2/26/29 | &nbsp;&nbsp; 521758 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Corporate Bonds — 13.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Information Technology — 0.9% (Continued)** |  |
| $76000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 6.500%, 3/31/29 | $76995 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 8.250%, 6/30/32<sup>†</sup> | &nbsp;&nbsp; 48072 |
| &nbsp;&nbsp; 105000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.500%, 10/15/28 | &nbsp;&nbsp; 105409 |
| &nbsp;&nbsp; 762000 | &nbsp;&nbsp;Dell International LLC / EMC Corp., 4.850%, 2/1/35 | &nbsp;&nbsp; 753559 |
| &nbsp;&nbsp; 1289000 | &nbsp;&nbsp;Marvell Technology, Inc., 2.950%, 4/15/31 | &nbsp;&nbsp; 1195156 |
| &nbsp;&nbsp; 671000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 602686 |
| &nbsp;&nbsp; 1742000 | &nbsp;&nbsp;Microsoft Corp., 2.525%, 6/1/50 | &nbsp;&nbsp; 1069150 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;NCR Voyix Corp., 144a, 5.125%, 4/15/29 | &nbsp;&nbsp; 5959 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 12/1/29 | &nbsp;&nbsp; 35113 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 2/15/28 | &nbsp;&nbsp; 37289 |
| &nbsp;&nbsp; 778000 | &nbsp;&nbsp;Oracle Corp., 5.950%, 9/26/55 | &nbsp;&nbsp; 692235 |
| &nbsp;&nbsp; 54000 | &nbsp;&nbsp;Science Applications International Corp., 144a, 5.875%, 11/1/33 | &nbsp;&nbsp; 54742 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;SS&C Technologies, Inc., 144a, 5.500%, 9/30/27 | &nbsp;&nbsp; 27024 |
| &nbsp;&nbsp; 864000 | &nbsp;&nbsp;Texas Instruments, Inc., 5.100%, 5/23/35 | &nbsp;&nbsp; 890559 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Zebra Technologies Corp., 144a, 6.500%, 6/1/32 | &nbsp;&nbsp; 11374 |
|  |  | &nbsp;&nbsp; 8875836 |
|  | &nbsp;&nbsp;**Real Estate — 0.5%** |  |
| &nbsp;&nbsp; 1219000 | &nbsp;&nbsp;American Tower Corp. REIT, 5.900%, 11/15/33 | &nbsp;&nbsp; 1304202 |
| &nbsp;&nbsp; 992000 | &nbsp;&nbsp;Crown Castle, Inc. REIT, 4.800%, 9/1/28 | &nbsp;&nbsp; 1006749 |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;CTR Partnership LP / CareTrust Capital Corp. REIT, 144a, 3.875%, 6/30/28 | &nbsp;&nbsp; 33474 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Howard Hughes Corp. (The) REIT, 144a, 4.125%, 2/1/29 | &nbsp;&nbsp; 34982 |
| &nbsp;&nbsp; 1206000 | &nbsp;&nbsp;Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | &nbsp;&nbsp; 1174341 |
| &nbsp;&nbsp; 53000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 4.500%, 2/15/31 | &nbsp;&nbsp; 50535 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 4.875%, 5/15/29 | &nbsp;&nbsp; 40036 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 7.000%, 2/1/30 | &nbsp;&nbsp; 21556 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;RLJ Lodging Trust LP REIT, 144a, 3.750%, 7/1/26 | &nbsp;&nbsp; 64647 |
| &nbsp;&nbsp; 776000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.700%, 12/1/31 | &nbsp;&nbsp; 686150 |
| &nbsp;&nbsp; 623000 | &nbsp;&nbsp;Store Capital LLC REIT, 4.625%, 3/15/29 | &nbsp;&nbsp; 620956 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;XHR LP REIT, 144a, 4.875%, 6/1/29 | &nbsp;&nbsp; 11831 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;XHR LP REIT, 144a, 6.625%, 5/15/30 | &nbsp;&nbsp; 27908 |
|  |  | &nbsp;&nbsp; 5077367 |
|  | &nbsp;&nbsp;**Materials — 0.2%** |  |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;Celanese US Holdings LLC, 6.879%, 7/15/32 | &nbsp;&nbsp; 35453 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Celanese US Holdings LLC, 7.200%, 11/15/33 | &nbsp;&nbsp; 54987 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Cerdia Finanz GmbH (Germany), 144a, 9.375%, 10/3/31 | &nbsp;&nbsp; 206750 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Magnera Corp., 144a, 4.750%, 11/15/29<sup>†</sup> | &nbsp;&nbsp; 21258 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Magnera Corp., 144a, 7.250%, 11/15/31 | &nbsp;&nbsp; 53991 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;NOVA Chemicals Corp. (Canada), 144a, 8.500%, 11/15/28 | &nbsp;&nbsp; 42866 |
| &nbsp;&nbsp; 626000 | &nbsp;&nbsp;Rio Tinto Finance USA PLC (Australia), 5.250%, 3/14/35 | &nbsp;&nbsp; 646224 |
| &nbsp;&nbsp; 846000 | &nbsp;&nbsp;Sherwin-Williams Co. (The), 4.500%, 6/1/47 | &nbsp;&nbsp; 723896 |
|  |  | &nbsp;&nbsp; 1785425 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;$139544597 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.4%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.4%** |
| &nbsp;&nbsp; 2499000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.500%, 11/15/54 | &nbsp;&nbsp; 2367412 |
| &nbsp;&nbsp; 7160000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.625%, 11/15/45 | &nbsp;&nbsp; 7022394 |
| &nbsp;&nbsp; 6840000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | &nbsp;&nbsp; 6830114 |
| &nbsp;&nbsp; 2045000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 2019437 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.4% (Continued)** | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.4% (Continued)** |
| $13801261 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | $13122352 |
| &nbsp;&nbsp;33990000 | &nbsp;&nbsp;U.S. Treasury Note, 3.500%, 9/30/29 | &nbsp;&nbsp; 33851916 |
| &nbsp;&nbsp; 2480000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 2493369 |
| &nbsp;&nbsp;12275000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 5/31/30 | &nbsp;&nbsp; 12441384 |
| &nbsp;&nbsp; 1651000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 11/15/35 | &nbsp;&nbsp; 1630878 |
| &nbsp;&nbsp;12795000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 12914953 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$94694209 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 3.8%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 3.8%** |
| &nbsp;&nbsp; 805 | &nbsp;&nbsp;FHLMC, Pool #G08062, 5.000%, 6/1/35 | &nbsp;&nbsp; 828 |
| &nbsp;&nbsp; 89308 | &nbsp;&nbsp;FHLMC, Pool #G08637, 4.000%, 4/1/45 | &nbsp;&nbsp; 86712 |
| &nbsp;&nbsp; 560876 | &nbsp;&nbsp;FHLMC, Pool #Q02664, 4.500%, 8/1/41 | &nbsp;&nbsp; 565562 |
| &nbsp;&nbsp; 1065567 | &nbsp;&nbsp;FHLMC, Pool #Q29056, 4.000%, 10/1/44 | &nbsp;&nbsp; 1034701 |
| &nbsp;&nbsp; 469460 | &nbsp;&nbsp;FHLMC, Pool #Q29260, 4.000%, 10/1/44 | &nbsp;&nbsp; 456782 |
| &nbsp;&nbsp; 1765592 | &nbsp;&nbsp;FHLMC REMIC, Pool #RA7784, 4.500%, 8/1/52 | &nbsp;&nbsp; 1736057 |
| &nbsp;&nbsp; 1163184 | &nbsp;&nbsp;FHLMC REMIC, Pool #SB0855, 3.000%, 7/1/37 | &nbsp;&nbsp; 1124326 |
| &nbsp;&nbsp; 1966154 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD4499, 3.500%, 5/1/52 | &nbsp;&nbsp; 1826290 |
| &nbsp;&nbsp; 1138877 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD8148, 3.000%, 5/1/51 | &nbsp;&nbsp; 1015279 |
| &nbsp;&nbsp; 165111 | &nbsp;&nbsp;FNMA, Pool #725423, 5.500%, 5/1/34 | &nbsp;&nbsp; 169814 |
| &nbsp;&nbsp; 146734 | &nbsp;&nbsp;FNMA, Pool #725610, 5.500%, 7/1/34 | &nbsp;&nbsp; 150541 |
| &nbsp;&nbsp; 15513 | &nbsp;&nbsp;FNMA, Pool #748895, 6.000%, 12/1/33 | &nbsp;&nbsp; 15508 |
| &nbsp;&nbsp; 73330 | &nbsp;&nbsp;FNMA, Pool #AD9193, 5.000%, 9/1/40 | &nbsp;&nbsp; 75492 |
| &nbsp;&nbsp; 193287 | &nbsp;&nbsp;FNMA, Pool #AH8925, 4.500%, 3/1/41 | &nbsp;&nbsp; 194654 |
| &nbsp;&nbsp; 217516 | &nbsp;&nbsp;FNMA, Pool #AR9195, 3.000%, 3/1/43 | &nbsp;&nbsp; 201538 |
| &nbsp;&nbsp; 333417 | &nbsp;&nbsp;FNMA, Pool #BC1809, 3.500%, 5/1/46 | &nbsp;&nbsp; 315907 |
| &nbsp;&nbsp; 1461287 | &nbsp;&nbsp;FNMA, Pool #BT7156, 2.000%, 8/1/51 | &nbsp;&nbsp; 1198267 |
| &nbsp;&nbsp; 1522227 | &nbsp;&nbsp;FNMA, Pool #CB1336, 2.000%, 8/1/41 | &nbsp;&nbsp; 1331784 |
| &nbsp;&nbsp; 2065921 | &nbsp;&nbsp;FNMA, Pool #CB2643, 2.500%, 1/1/52 | &nbsp;&nbsp; 1761537 |
| &nbsp;&nbsp; 1707374 | &nbsp;&nbsp;FNMA, Pool #CB3606, 3.500%, 5/1/52 | &nbsp;&nbsp; 1585337 |
| &nbsp;&nbsp; 1491485 | &nbsp;&nbsp;FNMA, Pool #CB5633, 4.500%, 2/1/53 | &nbsp;&nbsp; 1464531 |
| &nbsp;&nbsp; 1578987 | &nbsp;&nbsp;FNMA, Pool #FA2759, 5.500%, 2/1/55 | &nbsp;&nbsp; 1602382 |
| &nbsp;&nbsp; 1525000 | &nbsp;&nbsp;FNMA, Pool #FA3851, 5.000%, 12/1/55 | &nbsp;&nbsp; 1530048 |
| &nbsp;&nbsp; 1470602 | &nbsp;&nbsp;FNMA, Pool #FM5085, 2.000%, 12/1/50 | &nbsp;&nbsp; 1209108 |
| &nbsp;&nbsp; 462255 | &nbsp;&nbsp;FNMA, Pool #FM5166, 3.000%, 12/1/50 | &nbsp;&nbsp; 411205 |
| &nbsp;&nbsp; 391713 | &nbsp;&nbsp;FNMA, Pool #FM5279, 3.500%, 11/1/50 | &nbsp;&nbsp; 366404 |
| &nbsp;&nbsp; 258975 | &nbsp;&nbsp;FNMA, Pool #FM5468, 2.500%, 1/1/36 | &nbsp;&nbsp; 246683 |
| &nbsp;&nbsp; 456460 | &nbsp;&nbsp;FNMA, Pool #FM5682, 2.500%, 1/1/51 | &nbsp;&nbsp; 393184 |
| &nbsp;&nbsp; 1030325 | &nbsp;&nbsp;FNMA, Pool #FM7913, 2.000%, 4/1/36 | &nbsp;&nbsp; 958186 |
| &nbsp;&nbsp; 1454458 | &nbsp;&nbsp;FNMA, Pool #FM8360, 2.500%, 8/1/51 | &nbsp;&nbsp; 1254296 |
| &nbsp;&nbsp; 1367503 | &nbsp;&nbsp;FNMA, Pool #FM8361, 2.500%, 8/1/51 | &nbsp;&nbsp; 1168275 |
| &nbsp;&nbsp; 1157924 | &nbsp;&nbsp;FNMA, Pool #FM9448, 2.000%, 10/1/51 | &nbsp;&nbsp; 939859 |
| &nbsp;&nbsp; 873836 | &nbsp;&nbsp;FNMA, Pool #FS0816, 2.500%, 2/1/37 | &nbsp;&nbsp; 828175 |
| &nbsp;&nbsp; 1803152 | &nbsp;&nbsp;FNMA, Pool #FS6157, 3.000%, 9/1/52 | &nbsp;&nbsp; 1601947 |
| &nbsp;&nbsp; 1957988 | &nbsp;&nbsp;FNMA, Pool #FS6793, 4.000%, 6/1/53 | &nbsp;&nbsp; 1867997 |
| &nbsp;&nbsp; 2025532 | &nbsp;&nbsp;FNMA, Pool #FS6899, 3.000%, 11/1/51 | &nbsp;&nbsp; 1797334 |
| &nbsp;&nbsp; 463471 | &nbsp;&nbsp;FNMA, Pool #MA4166, 3.000%, 10/1/40 | &nbsp;&nbsp; 432765 |
| &nbsp;&nbsp; 1711414 | &nbsp;&nbsp;FNMA, Pool #MA4783, 4.000%, 10/1/52 | &nbsp;&nbsp; 1632974 |
| &nbsp;&nbsp; 324456 | &nbsp;&nbsp;GNMA, Pool #5175, 4.500%, 9/20/41 | &nbsp;&nbsp; 327080 |
| &nbsp;&nbsp; 1397299 | &nbsp;&nbsp;GNMA, Pool #786741, 3.500%, 4/20/52 | &nbsp;&nbsp; 1278092 |
| &nbsp;&nbsp; 1860003 | &nbsp;&nbsp;GNMA, Pool #MA8945, 4.000%, 6/20/53 | &nbsp;&nbsp; 1772614 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$37930055 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.8%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.8%** |
| &nbsp;&nbsp; 36883 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.560%, 7/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 36091 |
| &nbsp;&nbsp; 106276 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.475%, 6/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 104411 |
| &nbsp;&nbsp; 294077 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.629%, 10/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 283038 |
| &nbsp;&nbsp; 1101541 | &nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2024-1, Class A1, 144a, 5.210%, 8/25/68<sup>(A)(C)</sup> | &nbsp;&nbsp; 1103207 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.8%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 2.8%<br> (Continued)** |
| $703469 | &nbsp;&nbsp;AOMT, Ser 2024-6, Class A1, 144a, 4.650%, 11/25/67<sup>(A)(C)</sup> | $701400 |
| &nbsp;&nbsp; 778220 | &nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53<sup>(A)(C)</sup> | &nbsp;&nbsp; 769850 |
| &nbsp;&nbsp; 601760 | &nbsp;&nbsp;CIM Trust, Ser 2020-J2, Class A19, 144a, 2.500%, 1/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 501864 |
| &nbsp;&nbsp; 64793 | &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.392%, 5/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 64030 |
| &nbsp;&nbsp; 206234 | &nbsp;&nbsp;CSMC Trust, Ser 2015-1, Class B3, 144a, 3.878%, 1/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 200505 |
| &nbsp;&nbsp; 208396 | &nbsp;&nbsp;CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.766%, 12/25/44<sup>(A)(C)</sup> | &nbsp;&nbsp; 202591 |
| &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;CSMC Trust, Ser 2018-RPL9, Class A2, 144a, 3.944%, 9/25/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 1804991 |
| &nbsp;&nbsp; 700665 | &nbsp;&nbsp;Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 686194 |
| &nbsp;&nbsp; 1544815 | &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2021-6INV, Class A4, 144a, 2.500%, 8/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 1294023 |
| &nbsp;&nbsp; 1291929 | &nbsp;&nbsp;GCAT Trust, Ser 2022-INV2, Class A9, 144a, 3.000%, 4/25/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 1220454 |
| &nbsp;&nbsp; 1203505 | &nbsp;&nbsp;GCAT Trust, Ser 2022-NQM2, Class A1, 144a, 4.210%, 2/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 1199571 |
| &nbsp;&nbsp; 1646000 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2018-RPL1, Class A1B, 144a, 3.750%, 10/25/57 | &nbsp;&nbsp; 1571937 |
| &nbsp;&nbsp; 950641 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-PJ8, Class A8, 144a, 2.500%, 1/25/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 856473 |
| &nbsp;&nbsp; 1101370 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2022-PJ1, Class A8, 144a, 2.500%, 5/28/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 985015 |
| &nbsp;&nbsp; 542035 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.447%, 1/25/47<sup>(A)(C)</sup> | &nbsp;&nbsp; 496530 |
| &nbsp;&nbsp; 1177282 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-8, Class B3, 144a, 4.042%, 1/25/49<sup>(A)(C)</sup> | &nbsp;&nbsp; 1091515 |
| &nbsp;&nbsp; 1019417 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-5, Class B1, 144a, 3.570%, 12/25/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 905993 |
| &nbsp;&nbsp; 1439724 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2021-INV5, Class A3, 144a, 3.000%, 12/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 1331807 |
| &nbsp;&nbsp; 1126722 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2024-3, Class A6, 144a, 3.000%, 5/25/54<sup>(A)(C)</sup> | &nbsp;&nbsp; 1060135 |
| &nbsp;&nbsp; 1143550 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 1040118 |
| &nbsp;&nbsp; 573777 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 520972 |
| &nbsp;&nbsp; 1397426 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2019-1, Class M1, 144a, 3.500%, 10/25/69<sup>(A)(C)</sup> | &nbsp;&nbsp; 1336844 |
| &nbsp;&nbsp; 1550590 | &nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2016-1A, Class A1, 144a, 3.750%, 3/25/56<sup>(A)(C)</sup> | &nbsp;&nbsp; 1500610 |
| &nbsp;&nbsp; 1362579 | &nbsp;&nbsp;OBX Trust, Ser 2021-J3, Class A4, 144a, 2.500%, 10/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 1227831 |
| &nbsp;&nbsp; 116110 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2015-2, Class A19, 144a, 3.500%, 5/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 107229 |
| &nbsp;&nbsp; 767812 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.711%, 8/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 749286 |
| &nbsp;&nbsp; 696630 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.711%, 8/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 679821 |
| &nbsp;&nbsp; 1352197 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-S1, Class A4, 144a, 2.500%, 9/25/54<sup>(A)(C)</sup> | &nbsp;&nbsp; 1205392 |
| &nbsp;&nbsp; 991957 | &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2021-2, Class A3, 144a, 2.500%, 6/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 891903 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$27731631 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.4%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.4%** |
| &nbsp;&nbsp; 2072476 | &nbsp;&nbsp;FHLMC REMIC, Ser 4616, Class Z, 3.500%, 9/15/46 | &nbsp;&nbsp; 1807366 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.4%<br> (Continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 1.4%<br> (Continued)** |
| $515000 | &nbsp;&nbsp;FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50 | $379437 |
| &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40 | &nbsp;&nbsp; 1245717 |
| &nbsp;&nbsp; 2350000 | &nbsp;&nbsp;FHLMC REMIC, Ser 5223, Class NB, 3.500%, 2/25/42 | &nbsp;&nbsp; 2041164 |
| &nbsp;&nbsp; 1993934 | &nbsp;&nbsp;FNMA REMIC, Ser 2016-44, Class ZD, 3.000%, 7/25/46 | &nbsp;&nbsp; 1683550 |
| &nbsp;&nbsp; 2285552 | &nbsp;&nbsp;FNMA REMIC, Ser 2017-72, Class DZ, 2.500%, 9/25/47 | &nbsp;&nbsp; 1778873 |
| &nbsp;&nbsp; 1907811 | &nbsp;&nbsp;FNMA REMIC, Ser 2018-19, Class EZ, 4.000%, 4/25/48 | &nbsp;&nbsp; 1726973 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49 | &nbsp;&nbsp; 1252948 |
| &nbsp;&nbsp; 2150000 | &nbsp;&nbsp;FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49 | &nbsp;&nbsp; 1682728 |
| &nbsp;&nbsp; 88018 | &nbsp;&nbsp;GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40 | &nbsp;&nbsp; 88688 |
| &nbsp;&nbsp; 2460267 | &nbsp;&nbsp;GNMA, Ser 2012-147, Class IO, 0.512%, 4/16/54<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 19849 |
| &nbsp;&nbsp; 935265 | &nbsp;&nbsp;GNMA, Ser 2014-44, Class LZ, 4.000%, 3/16/44 | &nbsp;&nbsp; 892058 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$14599351 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 1.4%** | &nbsp;&nbsp;**Asset-Backed Securities — 1.4%** |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (TSFR3M + 1.912%), 5.816%, 4/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1001041 |
| &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;Benefit Street Partners CLO XXV Ltd. (Cayman Islands), Ser 2021-25A, Class BR, 144a, (TSFR3M + 1.450%), 5.355%, 1/15/35<sup>(A)</sup> | &nbsp;&nbsp; 1050835 |
| &nbsp;&nbsp; 333315 | &nbsp;&nbsp;CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60 | &nbsp;&nbsp; 280446 |
| &nbsp;&nbsp; 734767 | &nbsp;&nbsp;CLI Funding VI LLC, Ser 2020-3A, Class A, 144a, 2.070%, 10/18/45 | &nbsp;&nbsp; 694756 |
| &nbsp;&nbsp; 850000 | &nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Class D, 4.900%, 12/15/32 | &nbsp;&nbsp; 850295 |
| &nbsp;&nbsp; 99381 | &nbsp;&nbsp;Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34 | &nbsp;&nbsp; 98824 |
| &nbsp;&nbsp; 990600 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49 | &nbsp;&nbsp; 982940 |
| &nbsp;&nbsp; 925000 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | &nbsp;&nbsp; 895423 |
| &nbsp;&nbsp; 1176000 | &nbsp;&nbsp;Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1R, 144a, (TSFR3M + 1.450%), 5.334%, 10/19/34<sup>(A)</sup> | &nbsp;&nbsp; 1171101 |
| &nbsp;&nbsp; 811750 | &nbsp;&nbsp;Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | &nbsp;&nbsp; 779190 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2025-4, Class D, 4.950%, 1/15/32 | &nbsp;&nbsp; 2008421 |
| &nbsp;&nbsp; 217644 | &nbsp;&nbsp;TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45 | &nbsp;&nbsp; 208398 |
| &nbsp;&nbsp; 990000 | &nbsp;&nbsp;Textainer Marine Containers, Ltd. (China), Ser 2021-3A, Class A, 144a, 1.940%, 8/20/46 | &nbsp;&nbsp; 888057 |
| &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2015-6, Class B1, 144a, 3.754%, 4/25/55<sup>(A)(C)</sup> | &nbsp;&nbsp; 1368789 |
| &nbsp;&nbsp; 1140000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2019-4, Class M1B, 144a, 3.000%, 10/25/59<sup>(A)(C)</sup> | &nbsp;&nbsp; 971711 |
| &nbsp;&nbsp; 825000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-3A, Class C, 144a, 4.680%, 7/15/31 | &nbsp;&nbsp; 827338 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp;&nbsp;&nbsp;$14077565 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.3%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.3%** |
| &nbsp;&nbsp;28899417 | &nbsp;&nbsp;BANK, Ser 2019-BN21, Class XA, 0.826%, 10/17/52<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 711148 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Balanced Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.3% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 1.3% (Continued)** |
| $1150000 | &nbsp;&nbsp;BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55<sup>(A)(C)</sup> | $1049517 |
| &nbsp;&nbsp; 670000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 705302 |
| &nbsp;&nbsp; 780000 | &nbsp;&nbsp;BMO Mortgage Trust, Ser 2025-5C10, Class B, 6.445%, 5/15/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 813881 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2020-VIV3, Class B, 144a, 3.544%, 3/9/44<sup>(A)(C)</sup> | &nbsp;&nbsp; 1422659 |
| &nbsp;&nbsp; 925000 | &nbsp;&nbsp;BX Trust, Ser 2025-ARIA, Class C, 144a, 5.517%, 12/13/42<sup>(A)(C)</sup> | &nbsp;&nbsp; 932164 |
| &nbsp;&nbsp; 390000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 367717 |
| &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;COMM Mortgage Trust, Ser 2018-HOME, Class A, 144a, 3.815%, 4/10/33<sup>(A)(C)</sup> | &nbsp;&nbsp; 1201612 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.541%, 1/10/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 623602 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (TSFR1M + 1.564%), 5.315%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 985099 |
| &nbsp;&nbsp; 665000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 645096 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (TSFR1M + 1.317%), 5.067%, 11/15/35<sup>(A)</sup> | &nbsp;&nbsp; 481376 |
| &nbsp;&nbsp; 825000 | &nbsp;&nbsp;SG Commercial Mortgage Securities Trust, Ser 2019-787E, Class A, 144a, 4.163%, 2/15/41 | &nbsp;&nbsp; 802788 |
| &nbsp;&nbsp; 435000 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | &nbsp;&nbsp; 426823 |
| &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;VEGAS Trust, Ser 2024-TI, Class A, 144a, 5.518%, 11/10/39 | &nbsp;&nbsp; 1368438 |
| &nbsp;&nbsp; 770000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Class B, 144a, 4.058%, 8/17/36<sup>(A)(C)</sup> | &nbsp;&nbsp; 753123 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp;&nbsp;&nbsp;$13290345 |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.2%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.2%** |
| &nbsp;&nbsp; 834000 | &nbsp;&nbsp;Chile Government International Bond, 3.100%, 1/22/61 | &nbsp;&nbsp; 516163 |
| &nbsp;&nbsp; 1034000 | &nbsp;&nbsp;Mexico Government International Bond, 3.771%, 5/24/61 | &nbsp;&nbsp; 636427 |
| &nbsp;&nbsp; 870000 | &nbsp;&nbsp;Republic of Poland Government International Bond, 5.500%, 3/18/54 | &nbsp;&nbsp; 833169 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1985759 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 2.1%** |  |
| 13333733 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 13333733 |
| 7548137 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 7548137 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$20881870 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.5%<br> (Cost $674,373,717)** | $1009044358 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.5%)** | &nbsp;&nbsp;&nbsp; (5166433) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1003877925 |

---

*(A)* *Variable rate security - Rate reflected is the rate in effect as of December 31, 2025.* 

*(B)* *Perpetual Bond - A bond or preferred stock with no definite maturity date.* 

*(C)* *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* 

---

| | |
|:---|:---|
| *(D)* | *Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.* |
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $310,597.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *CLO – Collateralized Loan Obligation* |
| *DAC – Designated Activity Company* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *GNMA – Government National Mortgage Association* |
| *IO – Interest Only* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *MTN – Medium Term Note* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $93,509,389 or 9.3% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

#### Other Information:
*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$644308976* | *$—* | *$—* | *$644308976* |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*139544597* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*139544597* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*94694209* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*94694209* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*37930055* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*37930055* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*27731631* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*27731631* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14599351* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*14599351* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*14077565* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*14077565* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*13290345* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*13290345* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1985759* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1985759* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;*20881870* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*20881870* |
| *Total* | *$665190846* | *$343853512* | *$—* | *$1009044358* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Core Municipal Bond Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Fixed Rate Revenue Bonds – 69.5%** | &nbsp;&nbsp;**Fixed Rate Revenue Bonds – 69.5%** |
| $500000 | &nbsp;&nbsp;Arizona Board of Regents, Revenue, 5.000%, 08/01/54 | $517013 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Barry County, MO, COP, 5.000%, 10/01/37 | &nbsp;&nbsp; 526823 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Black Belt Energy Gas District, Revenue Ser A, 5.250%, 05/01/56 | &nbsp;&nbsp; 516091 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Central Plains Energy Project, Revenue Ser A1, 5.000%, 08/01/55 | &nbsp;&nbsp; 532805 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Chicago O'Hare International Airport, Revenue Ser A, 5.000%, 01/01/31 | &nbsp;&nbsp; 510121 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Chicago O'Hare International Airport, Revenue Ser C, 5.250%, 01/01/54 | &nbsp;&nbsp; 524294 |
| &nbsp;&nbsp;450000 | &nbsp;&nbsp;City of Erie Higher Education Building Authority, Revenue, 5.000%, 05/01/47 | &nbsp;&nbsp; 418510 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Colorado Health Fac. Auth., Revenue, 5.000%, 11/01/28 | &nbsp;&nbsp; 527866 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Colorado Health Fac. Auth., Revenue, 5.000%, 05/15/30 | &nbsp;&nbsp; 513400 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Connecticut State Health & Educational Fac. Auth., Revenue, 5.000%, 07/01/48 | &nbsp;&nbsp; 510103 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;County of Miami-Dade FL Transit System, Revenue Ser A, 4.000%, 07/01/49 | &nbsp;&nbsp; 445241 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Duluth Economic Development Auth., Revenue EDR, 5.000%, 06/15/32 | &nbsp;&nbsp; 563693 |
| &nbsp;&nbsp;535000 | &nbsp;&nbsp;Eagle River Water & Sanitation District Wastewater Revenue Ser A, 4.000%, 12/01/45 | &nbsp;&nbsp; 519288 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Energy Southeast A Cooperative District, Revenue Ser A, 5.000%, 11/01/35 | &nbsp;&nbsp; 529766 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Florida Development Finance Corp., Revenue Ser A, 5.000%, 06/15/30 | &nbsp;&nbsp; 510318 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Greater Jasper School Building Corp., Revenue, 5.000%, 07/15/29 | &nbsp;&nbsp; 529330 |
| &nbsp;&nbsp;510000 | &nbsp;&nbsp;Greater Texas Cultural Education Fac. Finance Corp., Revenue, 5.000%, 03/01/28 | &nbsp;&nbsp; 534518 |
| &nbsp;&nbsp;350000 | &nbsp;&nbsp;Guam Power Auth., Revenue Ser A, 5.000%, 10/01/26 | &nbsp;&nbsp; 355116 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Hamilton County, OH, 5.000%, 08/15/40 | &nbsp;&nbsp; 529739 |
| &nbsp;&nbsp;465000 | &nbsp;&nbsp;Harris County Cultural Education Fac. Finance Corp., Revenue Ser A, 5.000%, 07/01/52 | &nbsp;&nbsp; 475815 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Health Care Auth. for Baptist Health/The, Revenue Ser A, 5.000%, 11/15/32 | &nbsp;&nbsp; 548943 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Hospitals & Higher Education Fac. Auth. of Philadelphia/The, Revenue, 5.000%, 07/01/37 | &nbsp;&nbsp; 544130 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Illinois Finance Auth., Revenue Ser A, 5.000%, 08/15/47 | &nbsp;&nbsp; 510003 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Indiana Finance Auth., Revenue Ser A, 5.750%, 03/01/54 | &nbsp;&nbsp; 523152 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Iowa Higher Education Loan Auth., Revenue, 5.375%, 10/01/52 | &nbsp;&nbsp; 507837 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Kentucky Public Energy Auth., Revenue Ser 1, 4.000%, 02/01/30 | &nbsp;&nbsp; 509743 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Louisiana Local Government Environmental Fac. & Community Development Auth, Revenue, 5.000%, 08/15/30 | &nbsp;&nbsp; 515974 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Main Street Natural Gas, Inc., Revenue Ser B, 5.000%, 12/01/54 | &nbsp;&nbsp; 534997 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Massachusetts Development Finance Agency, Revenue, 5.000%, 01/01/35 | &nbsp;&nbsp; 546682 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Metropolitan Government Nashville & Davidson County Sports Auth., Revenue Ser A, 5.250%, 07/01/53 | &nbsp;&nbsp; 520585 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Michigan Finance Authority, Revenue Ser C, 5.000%, 06/01/32 | &nbsp;&nbsp; 541272 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Missouri Joint Municipal Electric Utility Commission, Revenue, 5.000%, 12/01/36 | &nbsp;&nbsp; 556363 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Montrose Redevelopment Auth., 5.000%, 09/01/26 | &nbsp;&nbsp; 508034 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Municipal Electric Authority of Georgia Ser A, 5.000%, 07/01/52 | &nbsp;&nbsp; 504746 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;New Jersey Economic Development Auth., Revenue EDR, 5.000%, 03/01/28 | &nbsp;&nbsp; 525370 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Fixed Rate Revenue Bonds – 69.5% (Continued)** | &nbsp;&nbsp;**Fixed Rate Revenue Bonds – 69.5% (Continued)** |
| $500000 | &nbsp;&nbsp;New Jersey Transportation Trust Fund Authority, Revenue Ser AA, 5.000%, 06/15/45 | $515973 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;New York City Transitional Finance Auth., Future Tax Secured Revenue Ser D, 5.000%, 05/01/50 | &nbsp;&nbsp; 515262 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;New York State Dormitory Auth., Revenue, 5.000%, 07/01/29 | &nbsp;&nbsp; 497294 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Newark Higher Education Finance Corp., Revenue Ser A, 4.000%, 04/01/57 | &nbsp;&nbsp; 417298 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Ohio Higher Educational Fac. Commission, 5.000%, 03/01/34 | &nbsp;&nbsp; 506899 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Ohio State University/The, Revenue Ser A, 3.000%, 12/01/44 | &nbsp;&nbsp; 402449 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Pennsylvania Higher Educational Fac. Auth., Revenue Ser A, 5.000%, 05/01/32 | &nbsp;&nbsp; 540467 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Public Utility District No. 1 of Benton County, Revenue, 5.000%, 11/01/28 | &nbsp;&nbsp; 509146 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Pulaski County, AR, Revenue, 5.250%, 03/01/53 | &nbsp;&nbsp; 520578 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Regional Transportation District, Revenue Ser A, 5.000%, 01/15/29 | &nbsp;&nbsp; 524676 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Regional Transportation District, Revenue Ser A, 5.000%, 01/15/31 | &nbsp;&nbsp; 539658 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Rock Hill , SC, Combined Utility System Revenue Ser A, 5.000%, 01/01/54 | &nbsp;&nbsp; 512984 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;St Lucie County School Board, COP Ser A, 5.000%, 07/01/48 | &nbsp;&nbsp; 514862 |
| &nbsp;&nbsp;510000 | &nbsp;&nbsp;State Board of Higher Education of the State of North Dakota, Revenue Ser A, 5.000%, 04/01/29 | &nbsp;&nbsp; 523981 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;State of Illinois Sales Tax Revenue Ser B, 5.000%, 06/15/33 | &nbsp;&nbsp; 522376 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;State of Louisiana Gasoline & Fuels Tax Revenue Ser A, 4.000%, 05/01/40 | &nbsp;&nbsp; 506273 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Tobacco Settlement Financing Corp, Revenue Ser A, 5.000%, 06/01/30 | &nbsp;&nbsp; 523664 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Town of Upland, Revenue EDR, 4.000%, 09/01/43 | &nbsp;&nbsp; 464837 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Troy Capital Resource Corp., Revenue, 5.000%, 09/01/30 | &nbsp;&nbsp; 544728 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Westmoreland County Municipal Auth., Revenue, 5.000%, 08/15/49 | &nbsp;&nbsp; 520636 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Westmoreland County Municipal Auth., Revenue Ser A, 4.125%, 08/15/41 | &nbsp;&nbsp; 503605 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Williamsburg LSD, COP, 5.250%, 12/15/53 | &nbsp;&nbsp; 515550 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 03/15/53 | &nbsp;&nbsp; 466349 |
|  | &nbsp;&nbsp;**Total Fixed Rate Revenue Bonds** | $29597226 |
|  | &nbsp;&nbsp;**General Obligation Bonds – 27.6%** | &nbsp;&nbsp;**General Obligation Bonds – 27.6%** |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Aubrey, TX, LTGO Ser A, 5.000%, 02/15/42 | &nbsp;&nbsp; 530670 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Bee Cave, TX, LTGO, 5.000%, 09/01/36 | &nbsp;&nbsp; 564765 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Chicago Board of Education, UTGO Ser A, 4.000%, 12/01/47 | &nbsp;&nbsp; 389323 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Chicago, IL, UTGO Ser A, 5.000%, 01/01/34 | &nbsp;&nbsp; 525296 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Clark County School District, LTGO, 4.000%, 06/15/42 | &nbsp;&nbsp; 491563 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Cook County School District No 27, LTGO Ser B, 4.250%, 12/01/50 | &nbsp;&nbsp; 471111 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Decatur, TX, LTGO, 5.000%, 03/01/54 | &nbsp;&nbsp; 513599 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Harris County Hospital District, LTGO, 5.000%, 02/15/55 | &nbsp;&nbsp; 517439 |
| &nbsp;&nbsp;615000 | &nbsp;&nbsp;Harris County Water Control & Improvement District No 159, UTGO, 4.000%, 03/01/48 | &nbsp;&nbsp; 562456 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Harris County, TX, LTGO Ser A, 5.000%, 09/15/54 | &nbsp;&nbsp; 522008 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Hudsonville Public Schools, UTGO, 5.000%, 05/01/53 | &nbsp;&nbsp; 517009 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Jackson, MS, UTGO, 5.000%, 03/01/28 | &nbsp;&nbsp; 505427 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;L'Anse Creuse Public Schools, UTGO Ser I, 5.000%, 05/01/49 | &nbsp;&nbsp; 523767 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;North Pine Vistas Metropolitan District No 2, LTGO, 5.250%, 12/01/42 | &nbsp;&nbsp; 534599 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Core Municipal Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**General Obligation Bonds – 27.6% (Continued)** | &nbsp;&nbsp;**General Obligation Bonds – 27.6% (Continued)** |
| $500000 | &nbsp;&nbsp;Pearland Independent School District, UTGO, 4.250%, 02/15/50 | $497129 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Pittsburgh School District, LTGO, 4.200%, 09/01/42 | &nbsp;&nbsp; 500926 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Prosper Independent School District, UTGO, 4.000%, 02/15/53 | &nbsp;&nbsp; 516557 |
| &nbsp;&nbsp;450000 | &nbsp;&nbsp;School District of Philadelphia/The, LTGO Ser B, 5.000%, 09/01/30 | &nbsp;&nbsp; 494373 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Smith County, TX, UTGO, 5.000%, 08/15/36 | &nbsp;&nbsp; 577340 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;St Louis, MO, UTGO Ser A, 5.000%, 02/15/43 | &nbsp;&nbsp; 531537 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;State of Illinois, UTGO Ser B, 5.500%, 05/01/47 | &nbsp;&nbsp; 523990 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Village of Orland Park, UTGO, 4.000%, 12/01/47 | &nbsp;&nbsp; 461490 |
| &nbsp;&nbsp;500000 | &nbsp;&nbsp;Will County, IL, UTGO Ser B, 4.125%, 11/15/42 | &nbsp;&nbsp; 494167 |
|  | &nbsp;&nbsp;**Total General Obligation Bonds** | $11766541 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 1.8%** | &nbsp;&nbsp;**Short-Term Investment Fund — 1.8%** |
| 761383 | &nbsp;&nbsp;Dreyfus Government Cash Management Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 761383 |
|  | &nbsp;&nbsp;**Total Investment Securities—98.9%<br> (Cost $42,521,867)** | $42125150 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;$459367 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $42584517 |

---

*∞* *Open-End Fund.* 

*Ω* *Represents the 7-Day SEC yield as of December 31, 2025.* 

---

| |
|:---|
| **Portfolio Abbreviations:** |
| *COP–Certificates of Participation* |
| *EDR–Economic Development Revenue* |
| *LSD–Local School District* |
| *LTGO–Limited Tax General Obligation* |
| *UTGO–Unlimited Tax General Obligation* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Municipal Bonds* | *$—* | *$41363767* | *$—* | *$41363767* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;*761383* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*761383* |
| *Total* | *$761383* | *$41363767* | *$—* | *$42125150* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone International Value Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8%** |  |
|  | &nbsp;&nbsp;**Japan — 15.5%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;171300 | &nbsp;&nbsp;Honda Motor Co. Ltd. | $1681254 |
| &nbsp;&nbsp;&nbsp;&nbsp;140300 | &nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp; 1818855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75500 | &nbsp;&nbsp;Sankyo Co. Ltd. | &nbsp;&nbsp; 1225432 |
| &nbsp;&nbsp;&nbsp;&nbsp;100900 | &nbsp;&nbsp;Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 1559787 |
|  | &nbsp;&nbsp;**Financials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;181800 | &nbsp;&nbsp;Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 1918247 |
|  | &nbsp;&nbsp;**Health Care — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43700 | &nbsp;&nbsp;Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 1574710 |
|  | &nbsp;&nbsp;**Industrials — 6.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49300 | &nbsp;&nbsp;Komatsu Ltd. | &nbsp;&nbsp; 1564410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95800 | &nbsp;&nbsp;NGK Insulators Ltd. | &nbsp;&nbsp; 2055798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;NIPPON EXPRESS HOLDINGS, Inc. | &nbsp;&nbsp; 1797818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63440 | &nbsp;&nbsp;Sojitz Corp. | &nbsp;&nbsp; 1972975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp; 1661400 |
|  | &nbsp;&nbsp;**Information Technology — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67800 | &nbsp;&nbsp;Brother Industries Ltd. | &nbsp;&nbsp; 1354490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45100 | &nbsp;&nbsp;Canon, Inc. | &nbsp;&nbsp; 1334446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13100 | &nbsp;&nbsp;SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 1275997 |
|  | &nbsp;&nbsp;Total Japan | &nbsp;&nbsp; 22795619 |
|  | &nbsp;&nbsp;**Canada — 8.8%** |  |
|  | &nbsp;&nbsp;**Energy — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500 | &nbsp;&nbsp;Imperial Oil Ltd. | &nbsp;&nbsp; 1511894 |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53900 | &nbsp;&nbsp;Manulife Financial Corp. | &nbsp;&nbsp; 1957215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35900 | &nbsp;&nbsp;Power Corp. of Canada | &nbsp;&nbsp; 1908058 |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;Finning International, Inc. | &nbsp;&nbsp; 1495473 |
|  | &nbsp;&nbsp;**Information Technology — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53500 | &nbsp;&nbsp;Open Text Corp. | &nbsp;&nbsp; 1742341 |
|  | &nbsp;&nbsp;**Materials — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76600 | &nbsp;&nbsp;DPM Metals, Inc. | &nbsp;&nbsp; 2367398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31100 | &nbsp;&nbsp;Nutrien Ltd. | &nbsp;&nbsp; 1919633 |
|  | &nbsp;&nbsp;Total Canada | &nbsp;&nbsp; 12902012 |
|  | &nbsp;&nbsp;**South Korea — 7.1%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;138500 | &nbsp;&nbsp;LG Uplus Corp. | &nbsp;&nbsp; 1415237 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17300 | &nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp; 1466582 |
|  | &nbsp;&nbsp;**Financials — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;DB Insurance Co. Ltd. | &nbsp;&nbsp; 1343901 |
|  | &nbsp;&nbsp;**Industrials — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;SK Square Co. Ltd.\* | &nbsp;&nbsp; 3106832 |
|  | &nbsp;&nbsp;**Information Technology — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36530 | &nbsp;&nbsp;Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 3061758 |
|  | &nbsp;&nbsp;Total South Korea | &nbsp;&nbsp; 10394310 |
|  | &nbsp;&nbsp;**United Kingdom — 7.1%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31600 | &nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp; 1326890 |
| &nbsp;&nbsp;&nbsp;&nbsp;360400 | &nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp; 2143237 |
|  | &nbsp;&nbsp;**Financials — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;194800 | &nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp; 3065361 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**United Kingdom — (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;225300 | &nbsp;&nbsp;Investec PLC | $1674868 |
| &nbsp;&nbsp;&nbsp;&nbsp;248100 | &nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp; 2176403 |
|  | &nbsp;&nbsp;Total United Kingdom | &nbsp;&nbsp; 10386759 |
|  | &nbsp;&nbsp;**France — 6.4%** |  |
|  | &nbsp;&nbsp;**Energy — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34100 | &nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp; 2223252 |
|  | &nbsp;&nbsp;**Financials — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25900 | &nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp; 2450323 |
|  | &nbsp;&nbsp;**Health Care — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp; 1480355 |
|  | &nbsp;&nbsp;**Real Estate — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;Klepierre SA REIT | &nbsp;&nbsp; 1685482 |
|  | &nbsp;&nbsp;**Utilities — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41100 | &nbsp;&nbsp;Rubis SCA | &nbsp;&nbsp; 1543200 |
|  | &nbsp;&nbsp;Total France | &nbsp;&nbsp; 9382612 |
|  | &nbsp;&nbsp;**China — 6.2%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;103500 | &nbsp;&nbsp;JD.com, Inc. - Class A | &nbsp;&nbsp; 1488251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70700 | &nbsp;&nbsp;Vipshop Holdings Ltd. ADR | &nbsp;&nbsp; 1250683 |
|  | &nbsp;&nbsp;**Energy — 1.2%** |  |
| 1650000 | &nbsp;&nbsp;PetroChina Co. Ltd. Class H | &nbsp;&nbsp; 1778534 |
|  | &nbsp;&nbsp;**Financials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;People's Insurance Co. Group of China Ltd. (The) Class H | &nbsp;&nbsp; 690614 |
|  | &nbsp;&nbsp;**Health Care — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;287200 | &nbsp;&nbsp;Livzon Pharmaceutical Group, Inc. Class H | &nbsp;&nbsp; 1052455 |
|  | &nbsp;&nbsp;**Industrials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;646000 | &nbsp;&nbsp;Weichai Power Co. Ltd. Class H | &nbsp;&nbsp; 1567722 |
|  | &nbsp;&nbsp;**Information Technology — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;353500 | &nbsp;&nbsp;Kingboard Holdings Ltd. | &nbsp;&nbsp; 1335262 |
|  | &nbsp;&nbsp;Total China | &nbsp;&nbsp; 9163521 |
|  | &nbsp;&nbsp;**Germany — 5.0%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23700 | &nbsp;&nbsp;Mercedes-Benz Group AG | &nbsp;&nbsp; 1642934 |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51200 | &nbsp;&nbsp;Deutsche Bank AG | &nbsp;&nbsp; 1973204 |
|  | &nbsp;&nbsp;**Health Care — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51300 | &nbsp;&nbsp;Bayer AG | &nbsp;&nbsp; 2225176 |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33900 | &nbsp;&nbsp;Daimler Truck Holding AG | &nbsp;&nbsp; 1468295 |
|  | &nbsp;&nbsp;Total Germany | &nbsp;&nbsp; 7309609 |
|  | &nbsp;&nbsp;**India — 4.1%** |  |
|  | &nbsp;&nbsp;**Energy — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;240700 | &nbsp;&nbsp;Coal India Ltd. | &nbsp;&nbsp; 1069217 |
| &nbsp;&nbsp;&nbsp;&nbsp;320400 | &nbsp;&nbsp;Petronet LNG Ltd. | &nbsp;&nbsp; 1012709 |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| 1185300 | &nbsp;&nbsp;Canara Bank | &nbsp;&nbsp; 2044215 |
|  | &nbsp;&nbsp;**Materials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;533300 | &nbsp;&nbsp;National Aluminium Co. Ltd. | &nbsp;&nbsp; 1863867 |
|  | &nbsp;&nbsp;Total India | &nbsp;&nbsp; 5990008 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone International Value Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Taiwan — 4.1%** |  |
|  | &nbsp;&nbsp;**Information Technology — 4.1%** |  |
| 1275000 | &nbsp;&nbsp;Compal Electronics, Inc. | $1231597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;Genius Electronic Optical Co. Ltd. | &nbsp;&nbsp; 1369312 |
| &nbsp;&nbsp;&nbsp;&nbsp;267000 | &nbsp;&nbsp;Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 1957197 |
| &nbsp;&nbsp;&nbsp;&nbsp;901000 | &nbsp;&nbsp;United Microelectronics Corp. | &nbsp;&nbsp; 1406989 |
|  | &nbsp;&nbsp;Total Taiwan | &nbsp;&nbsp; 5965095 |
|  | &nbsp;&nbsp;**Netherlands — 3.9%** |  |
|  | &nbsp;&nbsp;**Energy — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47200 | &nbsp;&nbsp;Shell PLC | &nbsp;&nbsp; 1739426 |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58800 | &nbsp;&nbsp;ABN AMRO Bank NV, 144a | &nbsp;&nbsp; 2054407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24700 | &nbsp;&nbsp;NN Group NV | &nbsp;&nbsp; 1905473 |
|  | &nbsp;&nbsp;Total Netherlands | &nbsp;&nbsp; 5699306 |
|  | &nbsp;&nbsp;**Australia — 3.7%** |  |
|  | &nbsp;&nbsp;**Financials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;122200 | &nbsp;&nbsp;QBE Insurance Group Ltd. | &nbsp;&nbsp; 1617860 |
|  | &nbsp;&nbsp;**Industrials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;289900 | &nbsp;&nbsp;Qantas Airways Ltd. | &nbsp;&nbsp; 2002828 |
|  | &nbsp;&nbsp;**Materials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18800 | &nbsp;&nbsp;Rio Tinto Ltd. | &nbsp;&nbsp; 1834047 |
|  | &nbsp;&nbsp;Total Australia | &nbsp;&nbsp; 5454735 |
|  | &nbsp;&nbsp;**Italy — 3.6%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;187300 | &nbsp;&nbsp;Pirelli & C SpA, 144a | &nbsp;&nbsp; 1279018 |
|  | &nbsp;&nbsp;**Financials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp; 1938145 |
|  | &nbsp;&nbsp;**Industrials — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21900 | &nbsp;&nbsp;Iveco Group NV | &nbsp;&nbsp; 479587 |
|  | &nbsp;&nbsp;**Materials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;Buzzi SpA | &nbsp;&nbsp; 1595909 |
|  | &nbsp;&nbsp;Total Italy | &nbsp;&nbsp; 5292659 |
|  | &nbsp;&nbsp;**Switzerland — 2.6%** |  |
|  | &nbsp;&nbsp;**Health Care — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;Novartis AG | &nbsp;&nbsp; 3803169 |
|  | &nbsp;&nbsp;**South Africa — 2.2%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24845 | &nbsp;&nbsp;Naspers Ltd. Class N | &nbsp;&nbsp; 1656951 |
|  | &nbsp;&nbsp;**Materials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;Harmony Gold Mining Co. Ltd. | &nbsp;&nbsp; 1510676 |
|  | &nbsp;&nbsp;Total South Africa | &nbsp;&nbsp; 3167627 |
|  | &nbsp;&nbsp;**Hong Kong — 2.0%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 1.1%** |  |
| 1447900 | &nbsp;&nbsp;WH Group Ltd., 144a | &nbsp;&nbsp; 1612981 |
|  | &nbsp;&nbsp;**Health Care — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;United Laboratories International Holdings Ltd. (The)<sup>†</sup> | &nbsp;&nbsp; 1401568 |
|  | &nbsp;&nbsp;Total Hong Kong | &nbsp;&nbsp; 3014549 |
|  | &nbsp;&nbsp;**United States — 1.9%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;114500 | &nbsp;&nbsp;GSK PLC | &nbsp;&nbsp; 2807221 |
|  | &nbsp;&nbsp;**Denmark — 1.5%** |  |
|  | &nbsp;&nbsp;**Financials — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45400 | &nbsp;&nbsp;Danske Bank A/S | &nbsp;&nbsp; 2267108 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Spain — 1.5%** |  |
|  | &nbsp;&nbsp;**Financials — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;191700 | &nbsp;&nbsp;Banco Santander SA | $2256403 |
|  | &nbsp;&nbsp;**Austria — 1.4%** |  |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17300 | &nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp; 2074434 |
|  | &nbsp;&nbsp;**Sweden — 1.4%** |  |
|  | &nbsp;&nbsp;**Information Technology — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;207700 | &nbsp;&nbsp;Telefonaktiebolaget LM Ericsson - Class B | &nbsp;&nbsp; 2021345 |
|  | &nbsp;&nbsp;**Brazil — 1.2%** |  |
|  | &nbsp;&nbsp;**Materials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;138600 | &nbsp;&nbsp;Vale SA | &nbsp;&nbsp; 1809711 |
|  | &nbsp;&nbsp;**Mexico — 1.2%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;815400 | &nbsp;&nbsp;Kimberly-Clark de Mexico SAB de CV - Class A | &nbsp;&nbsp; 1739248 |
|  | &nbsp;&nbsp;**Norway — 1.2%** |  |
|  | &nbsp;&nbsp;**Financials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp; 1738513 |
|  | &nbsp;&nbsp;**Belgium — 1.1%** |  |
|  | &nbsp;&nbsp;**Financials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23900 | &nbsp;&nbsp;Ageas SA | &nbsp;&nbsp; 1674456 |
|  | &nbsp;&nbsp;**Greece — 1.1%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80700 | &nbsp;&nbsp;Hellenic Telecommunications Organization SA | &nbsp;&nbsp; 1598980 |
|  | &nbsp;&nbsp;**Malaysia — 1.1%** |  |
|  | &nbsp;&nbsp;**Financials — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;765300 | &nbsp;&nbsp;CIMB Group Holdings Bhd | &nbsp;&nbsp; 1554108 |
|  | &nbsp;&nbsp;**Indonesia — 0.9%** |  |
|  | &nbsp;&nbsp;**Utilities — 0.9%** |  |
| 11771900 | &nbsp;&nbsp;Perusahaan Gas Negara Tbk PT | &nbsp;&nbsp; 1345177 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $143608294 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41377 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 41377 |
| &nbsp;&nbsp;&nbsp;&nbsp;388875 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 388875 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$430252 |
|  | &nbsp;&nbsp;**Total Investment Securities — 98.1%<br> (Cost $109,837,850)** | $144038546 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 1.9%** | &nbsp;&nbsp; 2833100 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $146871646 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $362,390.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone International Value Fund (Unaudited) (Continued)

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $4,946,406 or 3.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Japan* | *$—* | *$22795619* | *$—* | *$22795619* |
| &nbsp;&nbsp;&nbsp;*Canada* | &nbsp;&nbsp;&nbsp;*12902012* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12902012* |
| &nbsp;&nbsp;&nbsp;*South Korea* | &nbsp;&nbsp;&nbsp;&nbsp;*1415237* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8979073* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*10394310* |
| &nbsp;&nbsp;&nbsp;*United Kingdom* | &nbsp;&nbsp;&nbsp;&nbsp;*1674868* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8711891* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*10386759* |
| &nbsp;&nbsp;&nbsp;*France* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9382612* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9382612* |
| &nbsp;&nbsp;&nbsp;*China* | &nbsp;&nbsp;&nbsp;&nbsp;*2303138* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6860383* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9163521* |
| &nbsp;&nbsp;&nbsp;*Germany* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*7309609* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*7309609* |
| &nbsp;&nbsp;&nbsp;*India* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5990008* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5990008* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5965095* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5965095* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5699306* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5699306* |
| &nbsp;&nbsp;&nbsp;*Australia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5454735* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5454735* |
| &nbsp;&nbsp;&nbsp;*Italy* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5292659* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5292659* |
| &nbsp;&nbsp;&nbsp;*Switzerland* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3803169* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3803169* |
| &nbsp;&nbsp;&nbsp;*South Africa* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3167627* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3167627* |
| &nbsp;&nbsp;&nbsp;*Hong Kong* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3014549* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3014549* |
| &nbsp;&nbsp;&nbsp;*United States* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2807221* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2807221* |
| &nbsp;&nbsp;&nbsp;*Denmark* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2267108* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2267108* |
| &nbsp;&nbsp;&nbsp;*Spain* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2256403* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2256403* |
| &nbsp;&nbsp;&nbsp;*Austria* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2074434* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2074434* |
| &nbsp;&nbsp;&nbsp;*Sweden* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2021345* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2021345* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1809711* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1809711* |
| &nbsp;&nbsp;&nbsp;*Mexico* | &nbsp;&nbsp;&nbsp;&nbsp;*1739248* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1739248* |
| &nbsp;&nbsp;&nbsp;*Norway* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1738513* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1738513* |
| &nbsp;&nbsp;&nbsp;*Belgium* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1674456* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1674456* |
| &nbsp;&nbsp;&nbsp;*Greece* | &nbsp;&nbsp;&nbsp;&nbsp;*1598980* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1598980* |
| &nbsp;&nbsp;&nbsp;*Malaysia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1554108* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1554108* |
| &nbsp;&nbsp;&nbsp;*Indonesia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1345177* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1345177* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*430252* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*430252* |
| *Total* | *$22063735* | *$121974811* | *$—* | *$144038546* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Large Cap Focused Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.2%** |  |
|  | &nbsp;&nbsp;**Information Technology — 33.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;965822 | &nbsp;&nbsp;Apple, Inc. | $262568369 |
| &nbsp;&nbsp;&nbsp;&nbsp;218976 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 56274642 |
| &nbsp;&nbsp;&nbsp;&nbsp;743528 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 359585011 |
| 1243805 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 231969633 |
| &nbsp;&nbsp;&nbsp;&nbsp;361163 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 70394280 |
| &nbsp;&nbsp;&nbsp;&nbsp;273284 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 72395665 |
| &nbsp;&nbsp;&nbsp;&nbsp;277183 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 84233142 |
| &nbsp;&nbsp;&nbsp;&nbsp;296182 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 51384615 |
| &nbsp;&nbsp;&nbsp;&nbsp;190221 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 40855666 |
|  |  | &nbsp;&nbsp;1229661023 |
|  | &nbsp;&nbsp;**Communication Services — 17.9%** |  |
| 1057271 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 331771640 |
| 1034614 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 30924613 |
| &nbsp;&nbsp;&nbsp;&nbsp;362691 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 239408702 |
| &nbsp;&nbsp;&nbsp;&nbsp;169280 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 15871693 |
| &nbsp;&nbsp;&nbsp;&nbsp;286790 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 32628098 |
|  |  | &nbsp;&nbsp; 650604746 |
|  | &nbsp;&nbsp;**Financials — 14.3%** |  |
| 1968763 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 108281965 |
| &nbsp;&nbsp;&nbsp;&nbsp;112872 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 56735111 |
| &nbsp;&nbsp;&nbsp;&nbsp;812560 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 81182870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64004 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 56259516 |
| &nbsp;&nbsp;&nbsp;&nbsp;109664 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 39168691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36350 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 78139777 |
| &nbsp;&nbsp;&nbsp;&nbsp;282293 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 99002978 |
|  |  | &nbsp;&nbsp; 518770908 |
|  | &nbsp;&nbsp;**Health Care — 10.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;310369 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 60233312 |
| &nbsp;&nbsp;&nbsp;&nbsp;329786 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 19599182 |
| &nbsp;&nbsp;&nbsp;&nbsp;825047 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 44503035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85089 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 39724651 |
| &nbsp;&nbsp;&nbsp;&nbsp;388638 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 80428634 |
| &nbsp;&nbsp;&nbsp;&nbsp;775587 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 74502887 |
| &nbsp;&nbsp;&nbsp;&nbsp;145870 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 48153146 |
|  |  | &nbsp;&nbsp; 367144847 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 9.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;432766 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 58735002 |
| &nbsp;&nbsp;&nbsp;&nbsp;948364 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 218901378 |
| &nbsp;&nbsp;&nbsp;&nbsp;457236 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 29761491 |
| &nbsp;&nbsp;&nbsp;&nbsp;231108 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 19461605 |
|  |  | &nbsp;&nbsp; 326859476 |
|  | &nbsp;&nbsp;**Industrials — 6.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;330248 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 71703446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79557 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 37039352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72234 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 32079842 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.2% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 6.8% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;597739 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | $52254343 |
| &nbsp;&nbsp;&nbsp;&nbsp;341064 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 25334234 |
| &nbsp;&nbsp;&nbsp;&nbsp;349931 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 28592862 |
|  |  | &nbsp;&nbsp; 247004079 |
|  | &nbsp;&nbsp;**Consumer Staples — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;171679 | &nbsp;&nbsp;Diageo PLC (United Kingdom) ADR | &nbsp;&nbsp; 14810747 |
| &nbsp;&nbsp;&nbsp;&nbsp;506791 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 38855666 |
| &nbsp;&nbsp;&nbsp;&nbsp;559197 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 89695199 |
|  |  | &nbsp;&nbsp; 143361612 |
|  | &nbsp;&nbsp;**Energy — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;614529 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 73952420 |
|  | &nbsp;&nbsp;**Real Estate — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;188994 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp; 63590811 |
|  | &nbsp;&nbsp;**Materials — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;361806 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 24382106 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $3645332028 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.8%** |  |
| 28404876 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 28404876 |
|  | &nbsp;&nbsp;**Total Investment Securities—101.0%<br> (Cost $1,625,695,995)** | $3673736904 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (1.0%)** | &nbsp;&nbsp;&nbsp; (35183738) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $3638553166 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$3645332028* | *$—* | *$—* | *$3645332028* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*28404876* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*28404876* |
| *Total* | *$3673736904* | *$—* | *$—* | *$3673736904* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Large Cap Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.8%** |  |
|  | &nbsp;&nbsp;**Financials — 30.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;41005 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | $20611163 |
| &nbsp;&nbsp;&nbsp;&nbsp;11506 | &nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp; 12315332 |
| &nbsp;&nbsp;&nbsp;&nbsp;127407 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 12729234 |
| &nbsp;&nbsp;&nbsp;&nbsp;39258 | &nbsp;&nbsp;Chubb Ltd. | &nbsp;&nbsp; 12253207 |
| &nbsp;&nbsp;&nbsp;&nbsp;168459 | &nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp; 8027071 |
| &nbsp;&nbsp;&nbsp;&nbsp;58850 | &nbsp;&nbsp;Progressive Corp. (The) | &nbsp;&nbsp; 13401322 |
| &nbsp;&nbsp;&nbsp;&nbsp;38439 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 13480942 |
|  |  | &nbsp;&nbsp; 92818271 |
|  | &nbsp;&nbsp;**Information Technology — 15.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;76768 | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp; 20870149 |
| &nbsp;&nbsp;&nbsp;&nbsp;82325 | &nbsp;&nbsp;Entegris, Inc. | &nbsp;&nbsp; 6935881 |
| &nbsp;&nbsp;&nbsp;&nbsp;52828 | &nbsp;&nbsp;TE Connectivity PLC (Switzerland) | &nbsp;&nbsp; 12018898 |
| &nbsp;&nbsp;&nbsp;&nbsp;46683 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 8099034 |
|  |  | &nbsp;&nbsp; 47923962 |
|  | &nbsp;&nbsp;**Industrials — 14.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;30776 | &nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp; 8889955 |
| &nbsp;&nbsp;&nbsp;&nbsp;51940 | &nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp; 14996117 |
| &nbsp;&nbsp;&nbsp;&nbsp;49889 | &nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 7822595 |
| &nbsp;&nbsp;&nbsp;&nbsp;59956 | &nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp; 12706475 |
|  |  | &nbsp;&nbsp; 44415142 |
|  | &nbsp;&nbsp;**Materials — 10.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;44272 | &nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp; 10936069 |
| &nbsp;&nbsp;&nbsp;&nbsp;16157 | &nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp; 10060318 |
| &nbsp;&nbsp;&nbsp;&nbsp;15638 | &nbsp;&nbsp;NewMarket Corp. | &nbsp;&nbsp; 10747372 |
|  |  | &nbsp;&nbsp; 31743759 |
|  | &nbsp;&nbsp;**Communication Services — 9.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;95001 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 29811314 |
|  | &nbsp;&nbsp;**Consumer Staples — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;136222 | &nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp; 7854560 |
| &nbsp;&nbsp;&nbsp;&nbsp;72274 | &nbsp;&nbsp;Church & Dwight Co., Inc. | &nbsp;&nbsp; 6060175 |
| &nbsp;&nbsp;&nbsp;&nbsp;70154 | &nbsp;&nbsp;Nestle SA (Switzerland) ADR | &nbsp;&nbsp; 6929812 |
|  |  | &nbsp;&nbsp; 20844547 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 6.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp; 5353752 |
| &nbsp;&nbsp;&nbsp;&nbsp;75068 | &nbsp;&nbsp;O'Reilly Automotive, Inc.\* | &nbsp;&nbsp; 6846952 |
| &nbsp;&nbsp;&nbsp;&nbsp;79969 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 6734190 |
|  |  | &nbsp;&nbsp; 18934894 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;35874 | &nbsp;&nbsp;Johnson & Johnson | $7424124 |
|  | &nbsp;&nbsp;**Energy — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;45239 | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp; 6894876 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $300810889 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 1.2%** |  |
| 3548350 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 3548350 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.0%<br> (Cost $163,169,139)** | $304359239 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.0%)** | &nbsp;&nbsp;&nbsp; (26015) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $304333224 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$300810889* | *$—* | *$—* | *$300810889* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3548350* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3548350* |
| *Total* | *$304359239* | *$—* | *$—* | *$304359239* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Large Company Growth Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8%** |  |
|  | &nbsp;&nbsp;**Information Technology — 47.8%** |  |
| 58223 | &nbsp;&nbsp;Arista Networks, Inc.\* | $7628960 |
| &nbsp;&nbsp;&nbsp;&nbsp;7812 | &nbsp;&nbsp;Autodesk, Inc.\* | &nbsp;&nbsp; 2312430 |
| 26423 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 9145000 |
| &nbsp;&nbsp;&nbsp;&nbsp;7002 | &nbsp;&nbsp;Cadence Design Systems, Inc.\* | &nbsp;&nbsp; 2188685 |
| 10096 | &nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp; 6687792 |
| 39048 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 18884394 |
| 143537 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 26769651 |
| 14832 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 2890905 |
| &nbsp;&nbsp;&nbsp;&nbsp;8984 | &nbsp;&nbsp;ServiceNow, Inc.\* | &nbsp;&nbsp; 1376259 |
|  |  | &nbsp;&nbsp; 77884076 |
|  | &nbsp;&nbsp;**Communication Services — 18.5%** |  |
| 41396 | &nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp; 12956948 |
| 11761 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 7763319 |
| 40785 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 3824002 |
| 59332 | &nbsp;&nbsp;Pinterest, Inc. - Class A\* | &nbsp;&nbsp; 1536105 |
| 18108 | &nbsp;&nbsp;Reddit, Inc. - Class A\* | &nbsp;&nbsp; 4162486 |
|  |  | &nbsp;&nbsp; 30242860 |
|  | &nbsp;&nbsp;**Industrials — 14.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7057 | &nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp; 4612243 |
| 15480 | &nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp; 4768304 |
| 28538 | &nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp; 5850861 |
| 12230 | &nbsp;&nbsp;Siemens Energy AG (Germany) ADR\* | &nbsp;&nbsp; 1714035 |
| 75058 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 6132989 |
|  |  | &nbsp;&nbsp; 23078432 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 9.8%** |  |
| 54718 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 12630009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp; 3288172 |
|  |  | &nbsp;&nbsp; 15918181 |
|  | &nbsp;&nbsp;**Financials — 5.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6160 | &nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp; 3516621 |
| 13291 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 4661286 |
|  |  | &nbsp;&nbsp; 8177907 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 4.5%** |  |
| 19822 | &nbsp;&nbsp;Abbott Laboratories | $2483499 |
| 72728 | &nbsp;&nbsp;DexCom, Inc.\* | &nbsp;&nbsp; 4826957 |
|  |  | &nbsp;&nbsp; 7310456 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $162611912 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.3%** |  |
| 541013 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 541013 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $81,759,608)** | $163152925 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (145626) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $163007299 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$162611912* | *$—* | *$—* | *$162611912* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*541013* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*541013* |
| *Total* | *$163152925* | *$—* | *$—* | *$163152925* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Small Company Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.3%** |  |
|  | &nbsp;&nbsp;**Health Care — 20.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250851 | &nbsp;&nbsp;Bio-Techne Corp. | $14752547 |
| 1745913 | &nbsp;&nbsp;Certara, Inc.\* | &nbsp;&nbsp; 15381494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39682 | &nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp; 16978341 |
| &nbsp;&nbsp;&nbsp;&nbsp;350384 | &nbsp;&nbsp;Doximity, Inc. - Class A\* | &nbsp;&nbsp; 15515004 |
| &nbsp;&nbsp;&nbsp;&nbsp;201953 | &nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp; 21435291 |
| &nbsp;&nbsp;&nbsp;&nbsp;125181 | &nbsp;&nbsp;Ensign Group, Inc. (The) | &nbsp;&nbsp; 21806530 |
| &nbsp;&nbsp;&nbsp;&nbsp;244697 | &nbsp;&nbsp;Globus Medical, Inc. - Class A\* | &nbsp;&nbsp; 21364495 |
| &nbsp;&nbsp;&nbsp;&nbsp;544170 | &nbsp;&nbsp;Haemonetics Corp.\* | &nbsp;&nbsp; 43615225 |
| &nbsp;&nbsp;&nbsp;&nbsp;380292 | &nbsp;&nbsp;LivaNova PLC\* | &nbsp;&nbsp; 23399367 |
| &nbsp;&nbsp;&nbsp;&nbsp;246118 | &nbsp;&nbsp;Merit Medical Systems, Inc.\* | &nbsp;&nbsp; 21692841 |
| 1102341 | &nbsp;&nbsp;Option Care Health, Inc.\* | &nbsp;&nbsp; 35120584 |
| 1396420 | &nbsp;&nbsp;Progyny, Inc.\* | &nbsp;&nbsp; 35860066 |
| &nbsp;&nbsp;&nbsp;&nbsp;491310 | &nbsp;&nbsp;Waystar Holding Corp.\* | &nbsp;&nbsp; 16090402 |
|  |  | &nbsp;&nbsp; 303012187 |
|  | &nbsp;&nbsp;**Information Technology — 20.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65216 | &nbsp;&nbsp;Advanced Energy Industries, Inc. | &nbsp;&nbsp; 13654274 |
| &nbsp;&nbsp;&nbsp;&nbsp;732647 | &nbsp;&nbsp;Box, Inc. - Class A\* | &nbsp;&nbsp; 21913472 |
| 2650415 | &nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.\*<sup>†</sup> | &nbsp;&nbsp; 21070799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95033 | &nbsp;&nbsp;Ciena Corp.\* | &nbsp;&nbsp; 22225368 |
| &nbsp;&nbsp;&nbsp;&nbsp;127673 | &nbsp;&nbsp;CommVault Systems, Inc.\* | &nbsp;&nbsp; 16005087 |
| 1390119 | &nbsp;&nbsp;DoubleVerify Holdings, Inc.\* | &nbsp;&nbsp; 15902961 |
| &nbsp;&nbsp;&nbsp;&nbsp;465807 | &nbsp;&nbsp;Kulicke & Soffa Industries, Inc. (Singapore) | &nbsp;&nbsp; 21222167 |
| 1068160 | &nbsp;&nbsp;LiveRamp Holdings, Inc.\* | &nbsp;&nbsp; 31371859 |
| &nbsp;&nbsp;&nbsp;&nbsp;125651 | &nbsp;&nbsp;Onto Innovation, Inc.\* | &nbsp;&nbsp; 19835267 |
| &nbsp;&nbsp;&nbsp;&nbsp;221060 | &nbsp;&nbsp;Q2 Holdings, Inc.\* | &nbsp;&nbsp; 15951690 |
| &nbsp;&nbsp;&nbsp;&nbsp;159495 | &nbsp;&nbsp;Qualys, Inc.\* | &nbsp;&nbsp; 21196885 |
| &nbsp;&nbsp;&nbsp;&nbsp;991768 | &nbsp;&nbsp;RingCentral, Inc. - Class A\* | &nbsp;&nbsp; 28642260 |
| &nbsp;&nbsp;&nbsp;&nbsp;172982 | &nbsp;&nbsp;SPS Commerce, Inc.\* | &nbsp;&nbsp; 15417886 |
| &nbsp;&nbsp;&nbsp;&nbsp;173290 | &nbsp;&nbsp;Tower Semiconductor Ltd. (Israel)\* | &nbsp;&nbsp; 20347712 |
| &nbsp;&nbsp;&nbsp;&nbsp;526560 | &nbsp;&nbsp;Zeta Global Holdings Corp. - Class A\* | &nbsp;&nbsp; 10715496 |
|  |  | &nbsp;&nbsp; 295473183 |
|  | &nbsp;&nbsp;**Industrials — 17.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31235 | &nbsp;&nbsp;CACI International, Inc. - Class A\* | &nbsp;&nbsp; 16642320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70275 | &nbsp;&nbsp;Clean Harbors, Inc.\* | &nbsp;&nbsp; 16478082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83022 | &nbsp;&nbsp;Crane Co. | &nbsp;&nbsp; 15311747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27339 | &nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp; 15071170 |
| &nbsp;&nbsp;&nbsp;&nbsp;107538 | &nbsp;&nbsp;ESCO Technologies, Inc. | &nbsp;&nbsp; 21011850 |
| &nbsp;&nbsp;&nbsp;&nbsp;542129 | &nbsp;&nbsp;ExlService Holdings, Inc.\* | &nbsp;&nbsp; 23007955 |
| &nbsp;&nbsp;&nbsp;&nbsp;189779 | &nbsp;&nbsp;Federal Signal Corp. | &nbsp;&nbsp; 20608102 |
| &nbsp;&nbsp;&nbsp;&nbsp;218820 | &nbsp;&nbsp;Franklin Electric Co., Inc. | &nbsp;&nbsp; 20903875 |
| &nbsp;&nbsp;&nbsp;&nbsp;226008 | &nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp; 16701991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97876 | &nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp; 16982465 |
| &nbsp;&nbsp;&nbsp;&nbsp;358578 | &nbsp;&nbsp;KBR, Inc. | &nbsp;&nbsp; 14414836 |
| &nbsp;&nbsp;&nbsp;&nbsp;263673 | &nbsp;&nbsp;MAXIMUS, Inc. | &nbsp;&nbsp; 22760253 |
| &nbsp;&nbsp;&nbsp;&nbsp;178109 | &nbsp;&nbsp;Nextpower, Inc. - Class A\* | &nbsp;&nbsp; 15515075 |
| &nbsp;&nbsp;&nbsp;&nbsp;299815 | &nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp; 13938399 |
|  |  | &nbsp;&nbsp; 249348120 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 14.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;240936 | &nbsp;&nbsp;Champion Homes, Inc.\* | &nbsp;&nbsp; 20359092 |
| &nbsp;&nbsp;&nbsp;&nbsp;170130 | &nbsp;&nbsp;Crocs, Inc.\* | &nbsp;&nbsp; 14549518 |
| &nbsp;&nbsp;&nbsp;&nbsp;348725 | &nbsp;&nbsp;Frontdoor, Inc.\* | &nbsp;&nbsp; 20117945 |
| &nbsp;&nbsp;&nbsp;&nbsp;119585 | &nbsp;&nbsp;Grand Canyon Education, Inc.\* | &nbsp;&nbsp; 19888181 |
| &nbsp;&nbsp;&nbsp;&nbsp;171017 | &nbsp;&nbsp;LCI Industries | &nbsp;&nbsp; 20751203 |
| &nbsp;&nbsp;&nbsp;&nbsp;509999 | &nbsp;&nbsp;Malibu Boats, Inc. - Class A\* | &nbsp;&nbsp; 14387072 |
| &nbsp;&nbsp;&nbsp;&nbsp;214206 | &nbsp;&nbsp;PVH Corp. | &nbsp;&nbsp; 14356086 |
| &nbsp;&nbsp;&nbsp;&nbsp;342154 | &nbsp;&nbsp;Steven Madden Ltd. | &nbsp;&nbsp; 14247293 |
| &nbsp;&nbsp;&nbsp;&nbsp;283793 | &nbsp;&nbsp;Stride, Inc.\* | &nbsp;&nbsp; 18426679 |
| &nbsp;&nbsp;&nbsp;&nbsp;106372 | &nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp; 17657752 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.3% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 14.3% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34218 | &nbsp;&nbsp;TopBuild Corp.\* | $14275407 |
| &nbsp;&nbsp;&nbsp;&nbsp;397346 | &nbsp;&nbsp;YETI Holdings, Inc.\* | &nbsp;&nbsp; 17550773 |
|  |  | &nbsp;&nbsp; 206567001 |
|  | &nbsp;&nbsp;**Financials — 9.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;341050 | &nbsp;&nbsp;Ameris Bancorp | &nbsp;&nbsp; 25329783 |
| &nbsp;&nbsp;&nbsp;&nbsp;464204 | &nbsp;&nbsp;Atlantic Union Bankshares Corp. | &nbsp;&nbsp; 16386401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60472 | &nbsp;&nbsp;Evercore, Inc. - Class A | &nbsp;&nbsp; 20575598 |
| 1570979 | &nbsp;&nbsp;FNB Corp. | &nbsp;&nbsp; 26863741 |
| &nbsp;&nbsp;&nbsp;&nbsp;535483 | &nbsp;&nbsp;Home BancShares, Inc. | &nbsp;&nbsp; 14875718 |
| &nbsp;&nbsp;&nbsp;&nbsp;166121 | &nbsp;&nbsp;SouthState Bank Corp. | &nbsp;&nbsp; 15633647 |
| &nbsp;&nbsp;&nbsp;&nbsp;265253 | &nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp; 16695024 |
|  |  | &nbsp;&nbsp; 136359912 |
|  | &nbsp;&nbsp;**Energy — 6.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;472876 | &nbsp;&nbsp;Cactus, Inc. - Class A | &nbsp;&nbsp; 21600976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83450 | &nbsp;&nbsp;Gulfport Energy Corp.\* | &nbsp;&nbsp; 17356765 |
| &nbsp;&nbsp;&nbsp;&nbsp;371390 | &nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp; 17113651 |
| &nbsp;&nbsp;&nbsp;&nbsp;656053 | &nbsp;&nbsp;Oceaneering International, Inc.\* | &nbsp;&nbsp; 15764954 |
| &nbsp;&nbsp;&nbsp;&nbsp;333770 | &nbsp;&nbsp;Tidewater, Inc.\* | &nbsp;&nbsp; 16858723 |
|  |  | &nbsp;&nbsp; 88695069 |
|  | &nbsp;&nbsp;**Real Estate — 6.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;298111 | &nbsp;&nbsp;Agree Realty Corp. REIT<sup>†</sup> | &nbsp;&nbsp; 21472935 |
| &nbsp;&nbsp;&nbsp;&nbsp;151254 | &nbsp;&nbsp;Colliers International Group, Inc. (Canada) | &nbsp;&nbsp; 22235851 |
| &nbsp;&nbsp;&nbsp;&nbsp;763281 | &nbsp;&nbsp;COPT Defense Properties REIT | &nbsp;&nbsp; 21219212 |
| &nbsp;&nbsp;&nbsp;&nbsp;582720 | &nbsp;&nbsp;STAG Industrial, Inc. REIT | &nbsp;&nbsp; 21420787 |
|  |  | &nbsp;&nbsp; 86348785 |
|  | &nbsp;&nbsp;**Communication Services — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;769456 | &nbsp;&nbsp;Cargurus, Inc.\* | &nbsp;&nbsp; 29508638 |
| &nbsp;&nbsp;&nbsp;&nbsp;408995 | &nbsp;&nbsp;Ziff Davis, Inc.\* | &nbsp;&nbsp; 14376174 |
|  |  | &nbsp;&nbsp; 43884812 |
|  | &nbsp;&nbsp;**Materials — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69451 | &nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp; 14354133 |
| &nbsp;&nbsp;&nbsp;&nbsp;374753 | &nbsp;&nbsp;Silgan Holdings, Inc.<sup>†</sup> | &nbsp;&nbsp; 15128778 |
|  |  | &nbsp;&nbsp; 29482911 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $1439171980 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 0.8%** |  |
| 10463975 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 10463975 |
| 1076387 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 1076387 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$11540362 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $1,108,328,510)** | $1450712342 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (1890392) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1448821950 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $1,041,734.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Touchstone Small Company Fund (Unaudited) (Continued)

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$1439171980* | *$—* | *$—* | *$1439171980* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*11540362* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*11540362* |
| *Total* | *$1450712342* | *$—* | *$—* | *$1450712342* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Portfolio of Investments

Touchstone Value Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.4%** |  |
|  | &nbsp;&nbsp;**Financials — 23.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35601 | &nbsp;&nbsp;American Express Co. | $13170590 |
| &nbsp;&nbsp;&nbsp;&nbsp;137643 | &nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp; 11775359 |
| &nbsp;&nbsp;&nbsp;&nbsp;397752 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 21876360 |
| &nbsp;&nbsp;&nbsp;&nbsp;160931 | &nbsp;&nbsp;Bank of Nova Scotia (The) (Canada) | &nbsp;&nbsp; 11859005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34854 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 17519363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27283 | &nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp; 6612308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15243 | &nbsp;&nbsp;Everest Group Ltd. | &nbsp;&nbsp; 5172712 |
| &nbsp;&nbsp;&nbsp;&nbsp;203654 | &nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp; 13534845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25772 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 9204985 |
| &nbsp;&nbsp;&nbsp;&nbsp;113325 | &nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 10561890 |
| &nbsp;&nbsp;&nbsp;&nbsp;126030 | &nbsp;&nbsp;Western Alliance Bancorp | &nbsp;&nbsp; 10595342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17421 | &nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp; 5724541 |
|  |  | &nbsp;&nbsp;137607300 |
|  | &nbsp;&nbsp;**Health Care — 11.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;605527 | &nbsp;&nbsp;Avantor, Inc.\* | &nbsp;&nbsp; 6939340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15517 | &nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp; 5439484 |
| &nbsp;&nbsp;&nbsp;&nbsp;103801 | &nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp; 8513758 |
| &nbsp;&nbsp;&nbsp;&nbsp;120306 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 11556594 |
| &nbsp;&nbsp;&nbsp;&nbsp;164398 | &nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp; 17304534 |
| &nbsp;&nbsp;&nbsp;&nbsp;223626 | &nbsp;&nbsp;Sanofi SA ADR | &nbsp;&nbsp; 10836916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28301 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 9342443 |
|  |  | &nbsp;&nbsp; 69933069 |
|  | &nbsp;&nbsp;**Information Technology — 11.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78980 | &nbsp;&nbsp;Cognizant Technology Solutions Corp. - Class A | &nbsp;&nbsp; 6555340 |
| &nbsp;&nbsp;&nbsp;&nbsp;156884 | &nbsp;&nbsp;Entegris, Inc. | &nbsp;&nbsp; 13217477 |
| &nbsp;&nbsp;&nbsp;&nbsp;360196 | &nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 8651908 |
| &nbsp;&nbsp;&nbsp;&nbsp;236903 | &nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp; 15095459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53544 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 10436261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88176 | &nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp; 15082505 |
|  |  | &nbsp;&nbsp; 69038950 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 10.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;193332 | &nbsp;&nbsp;Aptiv PLC (Jersey)\* | &nbsp;&nbsp; 14710632 |
| &nbsp;&nbsp;&nbsp;&nbsp;854073 | &nbsp;&nbsp;Carnival Corp.\* | &nbsp;&nbsp; 26083389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49443 | &nbsp;&nbsp;Lennar Corp. - Class A | &nbsp;&nbsp; 5082740 |
| &nbsp;&nbsp;&nbsp;&nbsp;122841 | &nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp; 14781458 |
|  |  | &nbsp;&nbsp; 60658219 |
|  | &nbsp;&nbsp;**Utilities — 8.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;161315 | &nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 14910345 |
| &nbsp;&nbsp;&nbsp;&nbsp;567458 | &nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp; 9119050 |
| &nbsp;&nbsp;&nbsp;&nbsp;128479 | &nbsp;&nbsp;Pinnacle West Capital Corp. | &nbsp;&nbsp; 11396087 |
| &nbsp;&nbsp;&nbsp;&nbsp;185611 | &nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp; 13709229 |
|  |  | &nbsp;&nbsp; 49134711 |
|  | &nbsp;&nbsp;**Industrials — 7.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;161981 | &nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp; 8942971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49913 | &nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 9700093 |
| &nbsp;&nbsp;&nbsp;&nbsp;144099 | &nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp; 17255855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45786 | &nbsp;&nbsp;Vertiv Holdings Co. - Class A | &nbsp;&nbsp; 7417790 |
|  |  | &nbsp;&nbsp; 43316709 |
|  | &nbsp;&nbsp;**Energy — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76910 | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp; 11721853 |
| &nbsp;&nbsp;&nbsp;&nbsp;124322 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 14960909 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.4% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 6.9% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;257091 | &nbsp;&nbsp;Halliburton Co. | $7265392 |
| &nbsp;&nbsp;&nbsp;&nbsp;485729 | &nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp; 6814778 |
|  |  | &nbsp;&nbsp; 40762932 |
|  | &nbsp;&nbsp;**Materials — 5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51077 | &nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp; 12617041 |
| &nbsp;&nbsp;&nbsp;&nbsp;313008 | &nbsp;&nbsp;Axalta Coating Systems Ltd.\* | &nbsp;&nbsp; 10113288 |
| &nbsp;&nbsp;&nbsp;&nbsp;185572 | &nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp; 9425202 |
|  |  | &nbsp;&nbsp; 32155531 |
|  | &nbsp;&nbsp;**Real Estate — 4.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56583 | &nbsp;&nbsp;Prologis, Inc. REIT | &nbsp;&nbsp; 7223386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34944 | &nbsp;&nbsp;Public Storage REIT | &nbsp;&nbsp; 9067968 |
| &nbsp;&nbsp;&nbsp;&nbsp;377797 | &nbsp;&nbsp;VICI Properties, Inc. REIT | &nbsp;&nbsp; 10623651 |
|  |  | &nbsp;&nbsp; 26915005 |
|  | &nbsp;&nbsp;**Consumer Staples — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;573409 | &nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp; 16061186 |
| &nbsp;&nbsp;&nbsp;&nbsp;126528 | &nbsp;&nbsp;Unilever PLC (United Kingdom) ADR | &nbsp;&nbsp; 8274931 |
|  |  | &nbsp;&nbsp; 24336117 |
|  | &nbsp;&nbsp;**Communication Services — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61448 | &nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp; 19233224 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $573091767 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.2%** |  |
| 12608135 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 12608135 |
|  | &nbsp;&nbsp;**Total Investment Securities—99.6%<br> (Cost $454,488,195)** | $585699902 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.4%** | &nbsp;&nbsp; 2587262 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $588287164 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |

---

*The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Financial Statements.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$573091767* | *$—* | *$—* | *$573091767* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*12608135* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12608135* |
| *Total* | *$585699902* | *$—* | *$—* | *$585699902* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

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------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Assets and Liabilities

December 31, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Balanced<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International<br> Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth<br> Fund** |
| **Assets** |  |  |  |  |  |  |
| Investments, at cost | $674373717 | $42521867 | $109837850 | $1625695995 | $163169139 | $81759608 |
| Investments, at market value \* | $1009044358 | $42125150 | $144038546 | $3673736904 | $304359239 | $163152925 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56776 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325888 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17983 |
| Foreign currency † |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2763802 |  |  |  |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5573 |
| Receivable for capital shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27212 |
| Receivable for investments sold |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46312 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216337 |  |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| Tax reclaim receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467874 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5292 |
| **Total Assets** | &nbsp;&nbsp;&nbsp;&nbsp;1012755365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42671332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147741027 | &nbsp;&nbsp;&nbsp;&nbsp;3677303005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304943643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163212090 |
| **Liabilities** |  |  |  |  |  |  |
| Dividends payable |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11181 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |  |
| Payable for return of collateral for securities on loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7548137 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388875 |  |  |  |
| Payable for capital shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35367751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56370 |
| Payable for investments purchased |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88224 |  |  |  |
| Payable to Investment Adviser | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63088 |
| Payable to other affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21752 |
| Payable to Trustees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 |
| Payable for professional services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18019 |
| Payable for reports to shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12880 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2822 |  |
| Payable for transfer agent services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17973 |
| Other accrued expenses and liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12110 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8877440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38749839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204791 |
| **Net Assets** | $1003877925 | $42584517 | $146871646 | $3638553166 | $304333224 | $163007299 |
| **Net assets consist of:** |  |  |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;669878901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45056740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175366499 | &nbsp;&nbsp;&nbsp;&nbsp;1497934796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161708542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77452065 |
| Distributable earnings (deficit) | &nbsp;&nbsp;&nbsp;&nbsp;333999024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2472223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28494853) | &nbsp;&nbsp;&nbsp;&nbsp;2140618370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142624682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85555234 |
| Net Assets | $1003877925 | $42584517 | $146871646 | $3638553166 | $304333224 | $163007299 |
| *\*Includes market value of securities on loan of:* | *$310597* | *$—* | *$362390* | *$—* | *$—* | *$—* |
| *†Cost of foreign currency:* | *$—* | *$—* | *$2740001* | *$—* | *$—* | *$—* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Assets and Liabilities (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Touchstone<br> Small<br> Company<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Value<br> Fund** |
| $1108328510 | $454488195 |
| $1450712342 | $585699902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27694009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744 |
| 1455647629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617318963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076387 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4238213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28497671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29031799 |
| $1448821950 | $588287164 |
| 1112818677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450406516 |
| &nbsp;&nbsp;&nbsp;336003273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137880648 |
| $1448821950 | $588287164 |
| *$1041734* | *$—* |
| *$—* | *$—* |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Assets and Liabilities (Unaudited) (Continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Balanced<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International<br> Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth<br> Fund** |
| **Pricing of Class A Shares** |  |  |  |  |  |  |
| Net assets applicable to Class A shares | $611284764 | $20447613 | $100113954 | $2314480947 | $7714736 | $6868524 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20258754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4980965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28213546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112270 |
| Net asset value price per share\* | $30.17 | $10.81 | $20.10 | $82.03 | $20.35 | $61.18 |
| Maximum sales charge - Class A shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% |
| Maximum offering price per share<br> (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) - Class A shares | $31.76 | $11.17 | $21.16 | $86.35 | $21.42 | $64.40 |
| **Pricing of Class C Shares** |  |  |  |  |  |  |
| Net assets applicable to Class C shares | $74420977 | $459358 | $1999120 | $44651547 | $657367 | $253618 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597 |
| Net asset value and offering price per share\*\* | $30.22 | $10.79 | $18.02 | $72.60 | $19.83 | $55.17 |
| **Pricing of Class Y Shares** |  |  |  |  |  |  |
| Net assets applicable to Class Y shares | $313346991 | $3272629 | $44240464 | $1001631007 | $222731705 | $10277200 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10492949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12223612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10927701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162486 |
| Net asset value, offering price and redemption price per share | $29.86 | $10.86 | $19.78 | $81.94 | $20.38 | $63.25 |
| **Pricing of Institutional Class Shares** |  |  |  |  |  |  |
| Net assets applicable to Institutional Class shares | $— | $18404917 | $518108 | $205167643 | $73229416 | $145607957 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270834 |
| Net asset value, offering price and redemption price per share | $— | $10.82 | $19.55 | $82.12 | $20.40 | $64.12 |
| **Pricing of Class R6 Shares** |  |  |  |  |  |  |
| Net assets applicable to Class R6 shares | $4825193 | $— | $— | $72622022 | $— | $— |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161664 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883666 |  |  |
| Net asset value, offering price and redemption price per share | $29.85 | $— | $— | $82.18 | $— | $— |

---

*\** *There is no sales load on subscriptions of $1 million or more for all funds except for Core Municipal Bond Fund. There is no sales load on subscriptions of $500,000 or more for Core Municipal Bond Fund. Redemptions that were part of a $500,000 or $1 million or more subscription, as applicable, may be subject to a contingent deferred sales load if redeemed within a one-year period from the date of purchase.* 

*\*\** *Redemption price per share varies by length of time shares are held due to the terms of the contingent deferred sales charge.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Assets and Liabilities (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Touchstone<br> Small<br> Company<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Value<br> Fund** |
| $500353733 | $171280304 |
| &nbsp;&nbsp;&nbsp;80642648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14785005 |
| $6.20 | $11.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% |
| $6.53 | $12.19 |
| $11963288 | $1840019 |
| &nbsp;&nbsp;&nbsp;&nbsp;1990274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159409 |
| $6.01 | $11.54 |
| $801016103 | $114383246 |
| 110019011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9804070 |
| $7.28 | $11.67 |
| $37856165 | $283064806 |
| &nbsp;&nbsp;&nbsp;&nbsp;5178656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24378557 |
| $7.31 | $11.61 |
| $97632661 | $17718789 |
| &nbsp;&nbsp;&nbsp;14780128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525298 |
| $6.61 | $11.62 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Operations For the Six Months Ended December 31, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Balanced<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International<br> Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth<br> Fund** |
| **Investment Income** |  |  |  |  |  |  |
| Dividends\* | $3555668 | $25511 | $1833633 | $19334344 | $2085647 | $289316 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8123702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Income from securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 |
| **Total Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11683014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19340253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289389 |
| **Expenses** |  |  |  |  |  |  |
| Investment advisory fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9098905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522337 |
| Administration fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115415 |
| Compliance fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 |
| Custody fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1519 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15062 |
| Transfer Agent fees, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492 |
| Transfer Agent fees, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 |
| Transfer Agent fees, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4695 |
| Transfer Agent fees, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22277 |
| Transfer Agent fees, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Registration fees, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7304 |
| Registration fees, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5606 |
| Registration fees, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5760 |
| Registration fees, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10461 |
| Registration fees, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest expense on securities sold short | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Reports to Shareholders, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247 |
| Reports to Shareholders, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
| Reports to Shareholders, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087 |
| Reports to Shareholders, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326 |
| Reports to Shareholders, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distribution expenses, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8552 |
| Distribution and shareholder servicing expenses, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 |
| Trustee fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 |
| Other expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30553 |
| **Total Expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4859791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16304388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779752 |
| Fees waived and/or reimbursed by the Adviser and/or Affiliates<sup>(A)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6091) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144006) |
| Fees eligible for recoupment by the Adviser | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net Expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16183271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635746 |
| **Net Investment Income (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6829314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(346357) |
| **Realized and Unrealized Gains (Losses) on Investments** |  |  |  |  |  |  |
| Net realized gains (losses) on investments<sup>(B)(C)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19888580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7673515 | &nbsp;&nbsp;&nbsp;&nbsp;136001045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866703 |
| Net realized gains on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gains on swap agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized losses on foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net change in unrealized appreciation (depreciation) on investments† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43903851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14197267 | &nbsp;&nbsp;&nbsp;&nbsp;219464020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15854290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1960020) |
| Net change in unrealized appreciation (depreciation) on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net change in unrealized appreciation (depreciation) on foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net Realized and Unrealized Gains (Losses) on Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64177072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21852470 | &nbsp;&nbsp;&nbsp;&nbsp;355465065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16523711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4906683 |
| **Change in Net Assets Resulting from Operations** | $71006386 | $1530673 | $22945586 | $358622047 | $17431803 | $4560326 |
| *\*Net of foreign tax withholding of:* | *$22785* | *$—* | *$212213* | *$95794* | *$—* | *$—* |
| *†Includes increase in deferred foreign capital gain tax of:* | *$—* | *$—* | *$117000* | *$—* | *$—* | *$—* |

---

*<sup>(A)</sup>* *See Note 4 in Notes to Financial Statements.* 

*<sup>(B)</sup>* *Includes foreign capital gains taxes paid of $225 for the International Value Fund.* 

*<sup>(C)</sup>* *Net realized gains on investments includes the realized gains of $88,743,401, $3,545,945, $3,603,226 and $879,649 for the Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund and the Small Company Fund, respectively, for redemption-in-kind activity, which will not be recognized by the Fund for tax purposes.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Operations (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Touchstone<br> Small<br> Company<br> Fund** | **Touchstone<br> Value<br> Fund** |
| $5956743 | $6213790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24239 |
| &nbsp;&nbsp;&nbsp;&nbsp;5958490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4189875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49978 |
| &nbsp;&nbsp;&nbsp;&nbsp;6554525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2735686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236123) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;6559723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(601233) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738466 |
| &nbsp;&nbsp;&nbsp;&nbsp;58067885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28440278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(826) |
| &nbsp;&nbsp;&nbsp;&nbsp;60956560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15216193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| &nbsp;&nbsp;119024411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43655644 |
| $118423178 | $47394110 |
| *$3403* | *$40626* |
| *$—* | *$—* |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Balanced Fund** | **Touchstone<br> Balanced Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** |
|  | **For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** |
| **From Operations** |  |  |  |  |  |  |
| Net investment income (loss) | $6829314 | &nbsp;&nbsp;&nbsp;$13450004 | &nbsp;&nbsp;&nbsp;$676643 | &nbsp;&nbsp;&nbsp;$1416229 | &nbsp;&nbsp;&nbsp;$1093116 | &nbsp;&nbsp;&nbsp;$3479184 |
| Net realized gains (losses) on investments, futures contracts, swap agreements and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;20196828 | &nbsp;&nbsp;&nbsp;&nbsp;26960125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7646163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121217 |
| Net change in unrealized appreciation (depreciation) on investments, futures contracts, swap agreements and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;43980244 | &nbsp;&nbsp;&nbsp;&nbsp;63860329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(598722) | &nbsp;&nbsp;&nbsp;&nbsp;14206307 | &nbsp;&nbsp;&nbsp;&nbsp;18530836 |
| **Change in Net Assets from Operations** | &nbsp;&nbsp;&nbsp;&nbsp;71006386 | &nbsp;&nbsp;&nbsp;&nbsp;104270458 | &nbsp;&nbsp;&nbsp;&nbsp;1530673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636353 | &nbsp;&nbsp;&nbsp;&nbsp;22945586 | &nbsp;&nbsp;&nbsp;&nbsp;26131237 |
| **Distributions to Shareholders:** |  |  |  |  |  |  |
| Distributed earnings, Class A | &nbsp;&nbsp;&nbsp;&nbsp;(25892840) | &nbsp;&nbsp;&nbsp;&nbsp;(11269753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(631865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7263261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7150624) |
| Distributed earnings, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2863618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(818456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5418) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153386) |
| Distributed earnings, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;(13702623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6084187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83247) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3357050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2294692) |
| Distributed earnings, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(310625) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(687730) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41059) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39444) |
| Distributed earnings, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Distributions** | &nbsp;&nbsp;&nbsp;&nbsp;(42670395) | &nbsp;&nbsp;&nbsp;&nbsp;(18211229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(680403) | &nbsp;&nbsp;&nbsp;&nbsp;(1416235) | &nbsp;&nbsp;&nbsp;&nbsp;(10815158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9638146) |
| **Change in Net Assets from Share Transactions<sup>(A)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;10369656 | &nbsp;&nbsp;&nbsp;&nbsp;(37638272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124052 | &nbsp;&nbsp;&nbsp;&nbsp;(6928866) | &nbsp;&nbsp;&nbsp;&nbsp;19815831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6990050) |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;38705647 | &nbsp;&nbsp;&nbsp;&nbsp;48420957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974322 | &nbsp;&nbsp;&nbsp;&nbsp;(7708748) | &nbsp;&nbsp;&nbsp;&nbsp;31946259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9503041 |
| **Net Assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;965172278 | &nbsp;&nbsp;&nbsp;&nbsp;916751321 | &nbsp;&nbsp;&nbsp;&nbsp;41610195 | &nbsp;&nbsp;&nbsp;&nbsp;49318943 | &nbsp;&nbsp;&nbsp;&nbsp;114925387 | &nbsp;&nbsp;&nbsp;&nbsp;105422346 |
| End of period | $1003877925 | &nbsp;&nbsp;&nbsp;$965172278 | &nbsp;&nbsp;&nbsp;$42584517 | &nbsp;&nbsp;&nbsp;$41610195 | &nbsp;&nbsp;&nbsp;$146871646 | &nbsp;&nbsp;&nbsp;$114925387 |

---

*(A)* *For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone<br> Large Cap<br> Focused Fund** | **Touchstone<br> Large Cap<br> Focused Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Large Cap Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Large Cap Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Small Company Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Small Company Fund** |
| **For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** |
| $3156982 | &nbsp;&nbsp;&nbsp;$9982738 | &nbsp;&nbsp;&nbsp;$908092 | &nbsp;&nbsp;&nbsp;$2628915 | &nbsp;&nbsp;&nbsp;$(346357) | &nbsp;&nbsp;&nbsp;$(535714) | &nbsp;&nbsp;&nbsp;$(601233) | &nbsp;&nbsp;&nbsp;$(1184017) |
| &nbsp;&nbsp;&nbsp;136001045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198270455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669421 | &nbsp;&nbsp;&nbsp;&nbsp;20592176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866703 | &nbsp;&nbsp;&nbsp;&nbsp;12455600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58067762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77924735 |
| &nbsp;&nbsp;&nbsp;219464020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264934178 | &nbsp;&nbsp;&nbsp;&nbsp;15854290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6994915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1960020) | &nbsp;&nbsp;&nbsp;&nbsp;12105693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60956649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24511808 |
| &nbsp;&nbsp;&nbsp;358622047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473187371 | &nbsp;&nbsp;&nbsp;&nbsp;17431803 | &nbsp;&nbsp;&nbsp;&nbsp;30216006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560326 | &nbsp;&nbsp;&nbsp;&nbsp;24025579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118423178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101252526 |
| &nbsp;&nbsp;&nbsp;&nbsp;(33581681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14290861) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161060) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27766540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29701501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(626264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22848) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(717374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(830082) |
| &nbsp;&nbsp;&nbsp;&nbsp;(16851604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8561004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6205778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7752092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(438702) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(294888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37706653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27249001) |
| &nbsp;&nbsp;&nbsp;&nbsp;(4035964) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2231509) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2059229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2528634) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6525442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3728002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1794070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1743608) |
| &nbsp;&nbsp;&nbsp;&nbsp;(1266643) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(556685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5097315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5123010) |
| &nbsp;&nbsp;&nbsp;&nbsp;(56362156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25871829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8488214) | &nbsp;&nbsp;&nbsp;&nbsp;(10569424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7283030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4189493) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73081952) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64647202) |
| &nbsp;&nbsp;(125808377) | &nbsp;&nbsp;&nbsp;&nbsp;(344685386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4365068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3929390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3292469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230017814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80792048 |
| &nbsp;&nbsp;&nbsp;176451514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102630156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9183656 | &nbsp;&nbsp;&nbsp;&nbsp;15281514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6652094) | &nbsp;&nbsp;&nbsp;&nbsp;16543617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275359040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117397372 |
| 3462101652 | &nbsp;&nbsp;&nbsp;&nbsp;3359471496 | &nbsp;&nbsp;&nbsp;&nbsp;295149568 | &nbsp;&nbsp;&nbsp;&nbsp;279868054 | &nbsp;&nbsp;&nbsp;&nbsp;169659393 | &nbsp;&nbsp;&nbsp;&nbsp;153115776 | &nbsp;&nbsp;&nbsp;&nbsp;1173462910 | &nbsp;&nbsp;&nbsp;&nbsp;1056065538 |
| $3638553166 | &nbsp;&nbsp;&nbsp;$3462101652 | &nbsp;&nbsp;&nbsp;$304333224 | &nbsp;&nbsp;&nbsp;$295149568 | &nbsp;&nbsp;&nbsp;$163007299 | &nbsp;&nbsp;&nbsp;$169659393 | &nbsp;&nbsp;&nbsp;$1448821950 | &nbsp;&nbsp;&nbsp;$1173462910 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets (Continued)

---

| | | |
|:---|:---|:---|
|  | **Touchstone<br> Value Fund** | **Touchstone<br> Value Fund** |
|  | **For the<br> Six Months Ended<br> December 31,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> June 30,<br> 2025** |
| **From Operations** |  |  |
| Net investment income | $3738466 | &nbsp;&nbsp;&nbsp;$8448425 |
| Net realized gains on investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;28439452 | &nbsp;&nbsp;&nbsp;&nbsp;72653814 |
| Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;15216192 | &nbsp;&nbsp;&nbsp;&nbsp;(15348332) |
| **Change in Net Assets from Operations** | &nbsp;&nbsp;&nbsp;47394110 | &nbsp;&nbsp;&nbsp;&nbsp;65753907 |
| **Distributions to Shareholders:** |  |  |
| Distributed earnings, Class A | &nbsp;&nbsp;&nbsp;(20148952) | &nbsp;&nbsp;&nbsp;&nbsp;(13780241) |
| Distributed earnings, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(209613) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171469) |
| Distributed earnings, Class Y | &nbsp;&nbsp;&nbsp;(13564055) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8908226) |
| Distributed earnings, Institutional Class | &nbsp;&nbsp;&nbsp;(33652677) | &nbsp;&nbsp;&nbsp;&nbsp;(22258644) |
| Distributed earnings, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;(5032700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2445480) |
| **Total Distributions** | &nbsp;&nbsp;&nbsp;(72607997) | &nbsp;&nbsp;&nbsp;&nbsp;(47564060) |
| **Change in Net Assets from Share Transactions<sup>(A)</sup>** | &nbsp;&nbsp;&nbsp;31738902 | &nbsp;&nbsp;&nbsp;&nbsp;19027974 |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;6525015 | &nbsp;&nbsp;&nbsp;&nbsp;37217821 |
| **Net Assets** |  |  |
| Beginning of period | &nbsp;&nbsp;581762149 | &nbsp;&nbsp;&nbsp;&nbsp;544544328 |
| End of period | $588287164 | &nbsp;&nbsp;&nbsp;$581762149 |

---

*(A)* *For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

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------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets - Capital Stock Activity

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Balanced Fund** | **Touchstone<br> Balanced Fund** | **Touchstone<br> Balanced Fund** | **Touchstone<br> Balanced Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** | &nbsp;&nbsp;**Touchstone<br> Core Municipal<br> Bond Fund** |
|  | **For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | **For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** |
|  | **Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** |
| **Class A** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;505650 | $15379426 | &nbsp;&nbsp;&nbsp;1167090 | $32504569 | &nbsp;&nbsp;&nbsp;18265 | $195890 | &nbsp;&nbsp;&nbsp;&nbsp;78233 | $842849 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;815481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24683167 | &nbsp;&nbsp;&nbsp;&nbsp;377453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10693250 | &nbsp;&nbsp;&nbsp;25236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270633 | &nbsp;&nbsp;&nbsp;&nbsp;48514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522462 |
| Cost of Shares redeemed | (1428237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43496077) | &nbsp;&nbsp;(2863601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79655206) | &nbsp;&nbsp;(99428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1059509) | &nbsp;&nbsp;(240828) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2560945) |
| **Change from Class A Share Transactions** | &nbsp;&nbsp;(107106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3433484) | (1319058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36457387) | (55927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(592986) | (114081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1195634) |
| **Class C** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;154708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4704840 | &nbsp;&nbsp;&nbsp;&nbsp;535810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14925188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;93029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2813756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808753 | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4950 | &nbsp;&nbsp;&nbsp;&nbsp;1242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13366 |
| Cost of Shares redeemed | &nbsp;&nbsp;(297670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9127959) | &nbsp;&nbsp;&nbsp;&nbsp;(745386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20801965) | &nbsp;&nbsp;&nbsp;(5448) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57592) | &nbsp;&nbsp;&nbsp;(17762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190792) |
| **Change from Class C Share Transactions** | &nbsp;&nbsp;&nbsp;(49933) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1609363) | &nbsp;&nbsp;&nbsp;(181185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5068024) | &nbsp;&nbsp;&nbsp;(4986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52642) | &nbsp;&nbsp;&nbsp;(16520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(177426) |
| **Class Y** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | 1091798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32889088 | &nbsp;&nbsp;&nbsp;2265345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62623185 | &nbsp;&nbsp;&nbsp;92992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002358 | &nbsp;&nbsp;&nbsp;&nbsp;77667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838307 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;455921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13668890 | &nbsp;&nbsp;&nbsp;&nbsp;216447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069075 | &nbsp;&nbsp;&nbsp;&nbsp;4464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48144 | &nbsp;&nbsp;&nbsp;&nbsp;7478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80844 |
| Cost of Shares redeemed | (1051823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31684115) | &nbsp;&nbsp;(2498750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68777518) | &nbsp;&nbsp;(21914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236815) | &nbsp;&nbsp;(137916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1486340) |
| **Change from Class Y Share Transactions** | &nbsp;&nbsp;495896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14873863 | &nbsp;&nbsp;&nbsp;&nbsp;(16958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85258) | &nbsp;&nbsp;75542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813687 | &nbsp;&nbsp;&nbsp;(52771) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(567189) |
| **Institutional Class** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82104 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;28771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308915 | &nbsp;&nbsp;&nbsp;&nbsp;63685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687730 |
| Cost of Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(32756) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352922) | &nbsp;&nbsp;(531324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5758451) |
| **Change from Institutional Class Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44007) | (460052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4988617) |
| **Class R6** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;126774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861413 | &nbsp;&nbsp;&nbsp;&nbsp;143027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4064207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;7002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cost of Shares redeemed | &nbsp;&nbsp;(115761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3532621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4894) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130093) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Change from Class R6 Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;18015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538640 | &nbsp;&nbsp;&nbsp;&nbsp;139501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3972397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Change from Share Transactions** | &nbsp;&nbsp;356872 | $10369656 | (1377700) | $(37638272) | &nbsp;&nbsp;10644 | $124052 | (643424) | $(6928866) |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets - Capital Stock Activity (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> International Value<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Large Cap<br> Focused Fund** |
| &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** |
| &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** |
| &nbsp;&nbsp;201776 | $4130702 | &nbsp;&nbsp;&nbsp;152562 | $2454434 | &nbsp;&nbsp;&nbsp;&nbsp;261873 | $21102825 | &nbsp;&nbsp;&nbsp;&nbsp;618618 | $43272300 |
| &nbsp;&nbsp;346152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7034805 | &nbsp;&nbsp;&nbsp;470273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929845 | &nbsp;&nbsp;&nbsp;&nbsp;381180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31281181 | &nbsp;&nbsp;&nbsp;&nbsp;182540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13248569 |
| (316757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6160062) | &nbsp;&nbsp;(872264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13866455) | &nbsp;&nbsp;(1489189) | &nbsp;&nbsp;&nbsp;&nbsp;(118711418) | &nbsp;&nbsp;(3344425) | &nbsp;&nbsp;&nbsp;&nbsp;(232675527) |
| &nbsp;&nbsp;231171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5005445 | (249429) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4482176) | &nbsp;&nbsp;&nbsp;(846136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66327412) | (2543267) | &nbsp;&nbsp;&nbsp;&nbsp;(176154658) |
| &nbsp;&nbsp;&nbsp;20570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370917 | &nbsp;&nbsp;&nbsp;&nbsp;9119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136051 |
| &nbsp;&nbsp;&nbsp;&nbsp;8307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151369 | &nbsp;&nbsp;&nbsp;&nbsp;11317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230618 |
| &nbsp;&nbsp;&nbsp;(11261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201115) | &nbsp;&nbsp;&nbsp;(53384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(751581) | &nbsp;&nbsp;&nbsp;&nbsp;(94054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6669110) | &nbsp;&nbsp;&nbsp;&nbsp;(311255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19349859) |
| &nbsp;&nbsp;&nbsp;17616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321171 | &nbsp;&nbsp;&nbsp;(32948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469936) | &nbsp;&nbsp;&nbsp;&nbsp;(56276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3972738) | &nbsp;&nbsp;&nbsp;(209258) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12983190) |
| &nbsp;&nbsp;807030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15878700 | &nbsp;&nbsp;&nbsp;321123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115033 | &nbsp;&nbsp;&nbsp;1029267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81982961 | &nbsp;&nbsp;&nbsp;2512953 | &nbsp;&nbsp;&nbsp;&nbsp;174967437 |
| &nbsp;&nbsp;166502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3334752 | &nbsp;&nbsp;&nbsp;156652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273642 | &nbsp;&nbsp;&nbsp;&nbsp;195920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16099366 | &nbsp;&nbsp;&nbsp;&nbsp;113525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8188418 |
| (238640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4579405) | &nbsp;&nbsp;(598407) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9520096) | &nbsp;&nbsp;(1369406) | &nbsp;&nbsp;&nbsp;&nbsp;(109476265) | &nbsp;&nbsp;(3627882) | &nbsp;&nbsp;&nbsp;&nbsp;(252583595) |
| &nbsp;&nbsp;734892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14634047 | (120632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2131421) | &nbsp;&nbsp;&nbsp;(144219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11393938) | (1001404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69427740) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11574 | &nbsp;&nbsp;&nbsp;&nbsp;12228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193978 | &nbsp;&nbsp;&nbsp;1727909 | &nbsp;&nbsp;&nbsp;&nbsp;138218094 | &nbsp;&nbsp;&nbsp;4533590 | &nbsp;&nbsp;&nbsp;&nbsp;316751829 |
| &nbsp;&nbsp;&nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41059 | &nbsp;&nbsp;&nbsp;&nbsp;2744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875537 |
| &nbsp;&nbsp;&nbsp;(10213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(197465) | &nbsp;&nbsp;&nbsp;&nbsp;(8862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(139939) | &nbsp;&nbsp;(2290145) | &nbsp;&nbsp;&nbsp;&nbsp;(184425702) | &nbsp;&nbsp;(5694534) | &nbsp;&nbsp;&nbsp;&nbsp;(397909407) |
| &nbsp;&nbsp;&nbsp;(7544) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144832) | &nbsp;&nbsp;&nbsp;&nbsp;6110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93483 | &nbsp;&nbsp;&nbsp;(520986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42810087) | (1134984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79282041) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300736 | &nbsp;&nbsp;&nbsp;&nbsp;233639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(61060) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4866469) | &nbsp;&nbsp;&nbsp;&nbsp;(341783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24132532) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(17069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1304202) | &nbsp;&nbsp;&nbsp;(100472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6837757) |
| &nbsp;&nbsp;976135 | $19815831 | (396899) | $(6990050) | (1584686) | $(125808377) | (4989385) | $(344685386) |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets - Capital Stock Activity (Continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Large Cap Fund** | **Touchstone<br> Large Cap Fund** | **Touchstone<br> Large Cap Fund** | **Touchstone<br> Large Cap Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Large Company<br> Growth Fund** |
|  | **For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | **For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** |
|  | **Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** |
| **Class A** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;6121 | $126134 | &nbsp;&nbsp;&nbsp;&nbsp;96458 | $1886880 | &nbsp;&nbsp;&nbsp;13760 | $890268 | &nbsp;&nbsp;&nbsp;17259 | $967091 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;8586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177585 | &nbsp;&nbsp;&nbsp;&nbsp;11788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236460 | &nbsp;&nbsp;&nbsp;&nbsp;4962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306731 | &nbsp;&nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161060 |
| Cost of Shares redeemed | &nbsp;&nbsp;(16278) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(333037) | &nbsp;&nbsp;&nbsp;(77737) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1522813) | &nbsp;&nbsp;&nbsp;&nbsp;(8832) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558628) | &nbsp;&nbsp;&nbsp;(14059) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(777396) |
| **Change from Class A Share Transactions** | &nbsp;&nbsp;&nbsp;(1571) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29318) | &nbsp;&nbsp;&nbsp;30509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600527 | &nbsp;&nbsp;&nbsp;&nbsp;9890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638371 | &nbsp;&nbsp;&nbsp;&nbsp;5979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350755 |
| **Class C** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10540 | &nbsp;&nbsp;&nbsp;&nbsp;1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50507 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15249 | &nbsp;&nbsp;&nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338 |
| Cost of Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7405) | &nbsp;&nbsp;&nbsp;(44381) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(835614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30892) | &nbsp;&nbsp;&nbsp;&nbsp;(2176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110924) |
| **Change from Class C Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16531 | &nbsp;&nbsp;&nbsp;(42691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(802692) | &nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81418 | &nbsp;&nbsp;&nbsp;(1081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55079) |
| **Class Y** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | 196397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027841 | &nbsp;&nbsp;&nbsp;341282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6499369 | &nbsp;&nbsp;&nbsp;15204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013316 | &nbsp;&nbsp;&nbsp;28139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605555 |
| Reinvestment of distributions | 290083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6013788 | &nbsp;&nbsp;&nbsp;375231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7523362 | &nbsp;&nbsp;&nbsp;&nbsp;6867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438701 | &nbsp;&nbsp;&nbsp;&nbsp;4940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294888 |
| Cost of Shares redeemed | (575210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11798717) | &nbsp;&nbsp;(947870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18616921) | &nbsp;&nbsp;&nbsp;(26276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1753207) | &nbsp;&nbsp;&nbsp;(45636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2649568) |
| **Change from Class Y Share Transactions** | (88730) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1757088) | (231357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4594190) | &nbsp;&nbsp;&nbsp;(4205) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(301190) | &nbsp;&nbsp;(12557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(749125) |
| **Institutional Class** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | 385334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7891605 | &nbsp;&nbsp;&nbsp;781867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15342116 | &nbsp;&nbsp;232559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15514407 | &nbsp;&nbsp;393189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22826997 |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;98378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041947 | &nbsp;&nbsp;&nbsp;123646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480156 | &nbsp;&nbsp;&nbsp;90597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867936 | &nbsp;&nbsp;&nbsp;55810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372050 |
| Cost of Shares redeemed | (386758) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7923610) | &nbsp;&nbsp;(883360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17390985) | (390543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25730332) | (497928) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29038067) |
| **Change from Institutional Class Share Transactions** | &nbsp;&nbsp;96954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009942 | &nbsp;&nbsp;&nbsp;22153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431287 | &nbsp;&nbsp;(67387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4347989) | &nbsp;&nbsp;(48929) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2839020) |
| **Class R6** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Reinvestment of distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cost of Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Change from Class R6 Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Change from Share Transactions** | &nbsp;&nbsp;&nbsp;7480 | $240067 | (221386) | $(4365068) | &nbsp;&nbsp;(60278) | $(3929390) | &nbsp;&nbsp;(56588) | $(3292469) |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Statements of Changes in Net Assets - Capital Stock Activity (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Touchstone<br> Small Company Fund** | &nbsp;&nbsp;**Touchstone<br> Small Company Fund** | &nbsp;&nbsp;**Touchstone<br> Small Company Fund** | &nbsp;&nbsp;**Touchstone<br> Small Company Fund** | &nbsp;&nbsp;**Touchstone<br> Value Fund** | &nbsp;&nbsp;**Touchstone<br> Value Fund** | &nbsp;&nbsp;**Touchstone<br> Value Fund** | &nbsp;&nbsp;**Touchstone<br> Value Fund** |
| &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> December 31, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> June 30, 2025** |
| &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** |
| &nbsp;&nbsp;&nbsp;1547178 | $9795841 | &nbsp;&nbsp;&nbsp;3644193 | $21997016 | &nbsp;&nbsp;&nbsp;&nbsp;130313 | $1595195 | &nbsp;&nbsp;&nbsp;&nbsp;334917 | $4049282 |
| &nbsp;&nbsp;&nbsp;4227817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26931191 | &nbsp;&nbsp;&nbsp;4529289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28663618 | &nbsp;&nbsp;1628654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19133142 | &nbsp;&nbsp;1069582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13128410 |
| &nbsp;&nbsp;&nbsp;(5422032) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34131878) | &nbsp;&nbsp;(14520642) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87468140) | &nbsp;&nbsp;&nbsp;(897052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11098842) | &nbsp;&nbsp;(1467186) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17682094) |
| &nbsp;&nbsp;&nbsp;&nbsp;352963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595154 | &nbsp;&nbsp;(6347160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36807506) | &nbsp;&nbsp;&nbsp;861915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9629495 | &nbsp;&nbsp;&nbsp;&nbsp;(62687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(504402) |
| &nbsp;&nbsp;&nbsp;&nbsp;183163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112714 | &nbsp;&nbsp;&nbsp;&nbsp;394976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67527 | &nbsp;&nbsp;&nbsp;&nbsp;10711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127894 |
| &nbsp;&nbsp;&nbsp;&nbsp;115637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713480 | &nbsp;&nbsp;&nbsp;&nbsp;132988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823194 | &nbsp;&nbsp;&nbsp;&nbsp;17634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206049 | &nbsp;&nbsp;&nbsp;&nbsp;13709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167879 |
| &nbsp;&nbsp;&nbsp;&nbsp;(601044) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3722286) | &nbsp;&nbsp;&nbsp;&nbsp;(728517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4257980) | &nbsp;&nbsp;&nbsp;&nbsp;(28334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(355147) | &nbsp;&nbsp;&nbsp;(109725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1315228) |
| &nbsp;&nbsp;&nbsp;&nbsp;(302244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1896092) | &nbsp;&nbsp;&nbsp;&nbsp;(200553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1076692) | &nbsp;&nbsp;&nbsp;&nbsp;(5389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81571) | &nbsp;&nbsp;&nbsp;&nbsp;(85305) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1019455) |
| &nbsp;&nbsp;33913560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249602902 | &nbsp;&nbsp;35503899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245929242 | &nbsp;&nbsp;&nbsp;&nbsp;490870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6123613 | &nbsp;&nbsp;2134039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26143778 |
| &nbsp;&nbsp;&nbsp;5038686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37638984 | &nbsp;&nbsp;&nbsp;3703895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27182672 | &nbsp;&nbsp;1121444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13279999 | &nbsp;&nbsp;&nbsp;&nbsp;707156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8728321 |
| &nbsp;&nbsp;&nbsp;(9790464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72216974) | &nbsp;&nbsp;(22717468) | &nbsp;&nbsp;&nbsp;&nbsp;(154685476) | &nbsp;&nbsp;(1034793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12908693) | &nbsp;&nbsp;(1844484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22288424) |
| 29161782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215024912 | 16490326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118426438 | &nbsp;&nbsp;&nbsp;577521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6494919 | &nbsp;&nbsp;&nbsp;996711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12583675 |
| &nbsp;&nbsp;&nbsp;&nbsp;942675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7025492 | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4869382 | &nbsp;&nbsp;2195691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27098413 | &nbsp;&nbsp;3547525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42518833 |
| &nbsp;&nbsp;&nbsp;&nbsp;215709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617819 | &nbsp;&nbsp;&nbsp;&nbsp;228423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680933 | &nbsp;&nbsp;2454087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28944115 | &nbsp;&nbsp;1658058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20379723 |
| &nbsp;&nbsp;&nbsp;&nbsp;(490013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3616128) | &nbsp;&nbsp;&nbsp;(1000846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6929133) | &nbsp;&nbsp;(2422357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30527070) | &nbsp;&nbsp;(4410307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53157855) |
| &nbsp;&nbsp;&nbsp;&nbsp;668371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027183 | &nbsp;&nbsp;&nbsp;&nbsp;(92423) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(378818) | 2227421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25515458 | &nbsp;&nbsp;&nbsp;795276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9740701 |
| &nbsp;&nbsp;&nbsp;4700745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31505340 | &nbsp;&nbsp;15081521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93828256 | &nbsp;&nbsp;1233650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15881106 | &nbsp;&nbsp;&nbsp;&nbsp;528818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6358369 |
| &nbsp;&nbsp;&nbsp;&nbsp;747552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5068405 | &nbsp;&nbsp;&nbsp;&nbsp;756998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5059349 | &nbsp;&nbsp;&nbsp;&nbsp;426645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5032699 | &nbsp;&nbsp;&nbsp;&nbsp;198860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445481 |
| &nbsp;&nbsp;&nbsp;(4051861) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27307088) | &nbsp;&nbsp;(15745419) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98258979) | &nbsp;&nbsp;(2609181) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30733204) | &nbsp;&nbsp;&nbsp;(852766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10576395) |
| &nbsp;&nbsp;&nbsp;1396436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9266657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628626 | &nbsp;&nbsp;&nbsp;(948886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9819399) | &nbsp;&nbsp;&nbsp;(125088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1772545) |
| 31277308 | $230017814 | &nbsp;&nbsp;&nbsp;9943290 | $80792048 | 2712582 | $31738902 | 1518907 | $19027974 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** | **Touchstone Balanced Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** | **Portfolio<br> turnover<br> rate** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $21.61 | &nbsp;&nbsp;&nbsp;$0.16<sup>(3)</sup> | $5.47 | $5.63 | $(0.15) | $(1.57) | $(1.72) | $25.52 | &nbsp;&nbsp;26.92% | $322009 | 1.01% | &nbsp;&nbsp;1.03% | &nbsp;&nbsp;0.66% | 60% |
| 06/30/22 | &nbsp;&nbsp;25.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.14<sup>(3)</sup> | &nbsp;&nbsp;(3.42) | &nbsp;&nbsp;(3.28) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(0.61) | &nbsp;&nbsp;(0.76) | &nbsp;&nbsp;21.48 | (13.32) | &nbsp;&nbsp;521933 | 0.99 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;21.48 | &nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;2.66 | &nbsp;&nbsp;&nbsp;2.94 | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;24.14 | &nbsp;&nbsp;13.81 | &nbsp;&nbsp;541895 | 1.02 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;57<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;24.14 | &nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;2.56 | &nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;26.72 | &nbsp;&nbsp;12.22 | &nbsp;&nbsp;579513 | 1.01 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;1.47 | 70 |
| 06/30/25 | &nbsp;&nbsp;26.72 | &nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;2.74 | &nbsp;&nbsp;&nbsp;3.14 | &nbsp;&nbsp;(0.41) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(0.54) | &nbsp;&nbsp;29.32 | &nbsp;&nbsp;11.83 | &nbsp;&nbsp;597055 | 0.99 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.43 | 82 |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;29.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.21<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;2.16 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;(1.31) | &nbsp;&nbsp;30.17 | &nbsp;&nbsp;&nbsp;&nbsp;7.39<sup>(7)</sup> | &nbsp;&nbsp;611285 | &nbsp;&nbsp;&nbsp;0.98<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.98<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.35<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;38<sup>(7)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $21.72 | $(0.03)<sup>(3)</sup> | $5.49 | $5.46 | $(0.02) | $(1.57) | $(1.59) | $25.59 | &nbsp;&nbsp;25.93% | $65455 | 1.78% | &nbsp;&nbsp;1.81% | (0.11)% | 60% |
| 06/30/22 | &nbsp;&nbsp;25.59 | &nbsp;&nbsp;(0.05)<sup>(3)</sup> | &nbsp;&nbsp;(3.42) | &nbsp;&nbsp;(3.47) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.61) | &nbsp;&nbsp;(0.61) | &nbsp;&nbsp;21.51 | (13.96) | &nbsp;&nbsp;&nbsp;73906 | 1.75 | &nbsp;&nbsp;1.75 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;21.51 | &nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;2.68 | &nbsp;&nbsp;&nbsp;2.78 | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;24.18 | &nbsp;&nbsp;12.95 | &nbsp;&nbsp;&nbsp;73893 | 1.78 | &nbsp;&nbsp;1.78 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;57<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;24.18 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp;&nbsp;2.74 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;26.77 | &nbsp;&nbsp;11.38 | &nbsp;&nbsp;&nbsp;72104 | 1.77 | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;0.71 | 70 |
| 06/30/25 | &nbsp;&nbsp;26.77 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;2.73 | &nbsp;&nbsp;&nbsp;2.91 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;29.36 | &nbsp;&nbsp;10.92 | &nbsp;&nbsp;&nbsp;73772 | 1.76 | &nbsp;&nbsp;1.76 | &nbsp;&nbsp;0.65 | 82 |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;29.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.09<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;(1.19) | &nbsp;&nbsp;30.22 | &nbsp;&nbsp;&nbsp;&nbsp;7.00<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;74421 | &nbsp;&nbsp;&nbsp;1.76<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.76<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.57<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;38<sup>(7)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $21.43 | &nbsp;&nbsp;&nbsp;$0.20<sup>(3)</sup> | $5.41 | $5.61 | $(0.19) | $(1.57) | $(1.76) | $25.28 | &nbsp;&nbsp;27.12% | $197877 | 0.81% | &nbsp;&nbsp;0.81% | &nbsp;&nbsp;0.86% | 60% |
| 06/30/22 | &nbsp;&nbsp;25.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.18<sup>(3)</sup> | &nbsp;&nbsp;(3.38) | &nbsp;&nbsp;(3.20) | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.61) | &nbsp;&nbsp;(0.80) | &nbsp;&nbsp;21.28 | (13.13) | &nbsp;&nbsp;155159 | &nbsp;&nbsp;&nbsp;0.79<sup>(9)</sup> | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;21.28 | &nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;2.64 | &nbsp;&nbsp;&nbsp;2.96 | &nbsp;&nbsp;(0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.33) | &nbsp;&nbsp;23.91 | &nbsp;&nbsp;14.06 | &nbsp;&nbsp;197245 | 0.79 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;57<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;23.91 | &nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;2.97 | &nbsp;&nbsp;(0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.41) | &nbsp;&nbsp;26.47 | &nbsp;&nbsp;12.51 | &nbsp;&nbsp;265024 | 0.78 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;1.69 | 70 |
| 06/30/25 | &nbsp;&nbsp;26.47 | &nbsp;&nbsp;&nbsp;0.46 | &nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;(0.47) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;29.03 | &nbsp;&nbsp;12.04 | &nbsp;&nbsp;290178 | 0.77 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.65 | 82 |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;29.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.24<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;(1.34) | &nbsp;&nbsp;29.86 | &nbsp;&nbsp;&nbsp;&nbsp;7.51<sup>(7)</sup> | &nbsp;&nbsp;313347 | &nbsp;&nbsp;&nbsp;0.76<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.76<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.57<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;38<sup>(7)</sup> |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 06/30/22<sup>(10)</sup> | $26.15 | &nbsp;&nbsp;&nbsp;$0.13<sup>(3)</sup> | $(4.22) | $(4.09) | $(0.18) | $(0.61) | $(0.79) | $21.27 | (16.08)%<sup>(7)</sup> | $112 | 0.64%<sup>(8)</sup> | 33.98%<sup>(8)</sup> | &nbsp;&nbsp;0.89%<sup>(8)</sup> | 92%<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;21.27 | &nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;2.64 | &nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;23.90 | &nbsp;&nbsp;14.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | 0.65 | &nbsp;&nbsp;6.11 | &nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;57<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;23.90 | &nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;(0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.44) | &nbsp;&nbsp;26.45 | &nbsp;&nbsp;12.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | 0.64 | &nbsp;&nbsp;6.94 | &nbsp;&nbsp;1.83 | 70 |
| 06/30/25 | &nbsp;&nbsp;26.45 | &nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;2.71 | &nbsp;&nbsp;&nbsp;3.20 | &nbsp;&nbsp;(0.51) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(0.64) | &nbsp;&nbsp;29.01 | &nbsp;&nbsp;12.20 | &nbsp;&nbsp;&nbsp;&nbsp;4167 | 0.63 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.78 | 82 |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;29.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.26<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;(1.36) | &nbsp;&nbsp;29.85 | &nbsp;&nbsp;&nbsp;&nbsp;7.62<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;4825 | &nbsp;&nbsp;&nbsp;0.63<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.89<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.70<sup>(8)</sup> | 38<sup>(7)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *The ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01% for the year ended June 30, 2023.* 

*<sup>(3)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(4)</sup>* *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* 

*<sup>(5)</sup>* *Portfolio turnover excludes the purchases and sales of securities by the AIG Asset Allocation Fund and AIG Multi-Asset Allocation Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher.* 

*<sup>(6)</sup>* *Unaudited.* 

*<sup>(7)</sup>* *Not annualized.* 

*<sup>(8)</sup>* *Annualized.* 

*<sup>(9)</sup>* *Net expenses include amounts recouped by the Adviser.* 

*<sup>(10)</sup>* *Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** | **Touchstone Core Municipal Bond Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets** | **Ratio of gross<br> expenses<br> to average<br> net assets** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** | **Portfolio<br> turnover<br> rate** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $11.83 | $0.28 | $0.06 | $0.34 | $(0.28) | $— | $(0.28) | $11.89 | &nbsp;&nbsp;2.90% | $30870 | 0.85% | 1.15% | 2.35% | &nbsp;&nbsp;21% |
| 06/30/22 | &nbsp;&nbsp;11.89 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;(1.16) | &nbsp;&nbsp;(1.00) | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;10.72 | (8.43) | &nbsp;&nbsp;25101 | 0.82 | 1.08 | 1.40 | 157 |
| 06/30/23 | &nbsp;&nbsp;10.72 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;10.73 | &nbsp;&nbsp;2.37 | &nbsp;&nbsp;22988 | 0.80 | 1.05 | 2.27 | &nbsp;&nbsp;54 |
| 06/30/24 | &nbsp;&nbsp;10.73 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;10.78 | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;22231 | 0.80 | 1.09 | 2.75 | &nbsp;&nbsp;27 |
| 06/30/25 | &nbsp;&nbsp;10.78 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;(0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.31) | &nbsp;&nbsp;10.59 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;20627 | 0.80 | 1.14 | 2.90 | &nbsp;&nbsp;15 |
| 12/31/25<sup>(2)</sup> | &nbsp;&nbsp;10.59 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;10.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.65<sup>(3)</sup> | &nbsp;&nbsp;20448 | &nbsp;&nbsp;&nbsp;0.80<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.16<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.04<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $11.85 | $0.18 | $0.07 | $0.25 | $(0.19) | $— | $(0.19) | $11.91 | &nbsp;&nbsp;2.13% | $1180 | 1.60% | 2.27% | 1.60% | &nbsp;&nbsp;21% |
| 06/30/22 | &nbsp;&nbsp;11.91 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;(1.17) | &nbsp;&nbsp;(1.09) | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;10.73 | (9.27) | &nbsp;&nbsp;&nbsp;&nbsp;943 | 1.57 | 2.47 | 0.65 | 157 |
| 06/30/23 | &nbsp;&nbsp;10.73 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;10.73 | &nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;1028 | 1.55 | 2.45 | 1.52 | &nbsp;&nbsp;54 |
| 06/30/24 | &nbsp;&nbsp;10.73 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;10.77 | &nbsp;&nbsp;2.41 | &nbsp;&nbsp;&nbsp;&nbsp;690 | 1.55 | 3.23 | 2.00 | &nbsp;&nbsp;27 |
| 06/30/25 | &nbsp;&nbsp;10.77 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;10.57 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;503 | 1.52 | 3.33 | 2.19 | &nbsp;&nbsp;15 |
| 12/31/25<sup>(2)</sup> | &nbsp;&nbsp;10.57 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;10.79 | &nbsp;&nbsp;&nbsp;&nbsp;3.29<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;1.50<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;4.44<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;2.34<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $11.85 | $0.31 | $0.05 | $0.36 | $(0.31) | $— | $(0.31) | $11.90 | &nbsp;&nbsp;3.07% | $3449 | 0.60% | 1.25% | 2.60% | &nbsp;&nbsp;21% |
| 06/30/22 | &nbsp;&nbsp;11.90 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;(1.15) | &nbsp;&nbsp;(0.96) | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;10.74 | (8.19) | &nbsp;&nbsp;&nbsp;2740 | 0.57 | 1.11 | 1.65 | 157 |
| 06/30/23 | &nbsp;&nbsp;10.74 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;10.75 | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;&nbsp;2637 | 0.55 | 1.18 | 2.52 | &nbsp;&nbsp;54 |
| 06/30/24 | &nbsp;&nbsp;10.75 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;10.82 | &nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;3015 | 0.55 | 1.16 | 3.00 | &nbsp;&nbsp;27 |
| 06/30/25 | &nbsp;&nbsp;10.82 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;10.64 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;2404 | 0.55 | 1.35 | 3.15 | &nbsp;&nbsp;15 |
| 12/31/25<sup>(2)</sup> | &nbsp;&nbsp;10.64 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;10.86 | &nbsp;&nbsp;&nbsp;&nbsp;3.77<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;0.55<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.44<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.29<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $11.84 | $0.32 | $0.06 | $0.38 | $(0.32) | $— | $(0.32) | $11.90 | &nbsp;&nbsp;3.20% | $14481 | 0.55% | 0.85% | 2.65% | &nbsp;&nbsp;21% |
| 06/30/22 | &nbsp;&nbsp;11.90 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;(1.15) | &nbsp;&nbsp;(0.95) | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;10.74 | (8.13) | &nbsp;&nbsp;29694 | 0.50 | 0.75 | 1.72 | 157 |
| 06/30/23 | &nbsp;&nbsp;10.74 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;10.75 | &nbsp;&nbsp;2.73 | &nbsp;&nbsp;26434 | 0.48 | 0.73 | 2.59 | &nbsp;&nbsp;54 |
| 06/30/24 | &nbsp;&nbsp;10.75 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.33) | &nbsp;&nbsp;10.80 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;23383 | 0.48 | 0.77 | 3.07 | &nbsp;&nbsp;27 |
| 06/30/25 | &nbsp;&nbsp;10.80 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;10.60 | &nbsp;&nbsp;1.37 | &nbsp;&nbsp;18077 | 0.48 | 0.79 | 3.22 | &nbsp;&nbsp;15 |
| 12/31/25<sup>(2)</sup> | &nbsp;&nbsp;10.60 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;10.82 | &nbsp;&nbsp;&nbsp;&nbsp;3.82<sup>(3)</sup> | &nbsp;&nbsp;18405 | &nbsp;&nbsp;&nbsp;0.48<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.82<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.36<sup>(4)</sup> | &nbsp;&nbsp;20<sup>(3)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *Unaudited.* 

*<sup>(3)</sup>* *Not annualized.* 

*<sup>(4)</sup>* *Annualized.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** | **Touchstone International Value Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)<sup>(1)</sup>** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(2)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets** | **Ratio of gross<br> expenses<br> to average<br> net assets** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** | **Portfolio<br> turnover<br> rate** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $13.93 | $0.09 | $4.94 | $5.03 | $(0.08) | $— | $(0.08) | $18.88 | &nbsp;&nbsp;36.16% | $88022 | 1.36% | 1.37% | &nbsp;&nbsp;0.56% | &nbsp;&nbsp;31% |
| 06/30/22 | &nbsp;&nbsp;18.88 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;(3.44) | &nbsp;&nbsp;(3.26) | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;(2.24) | &nbsp;&nbsp;(2.32) | &nbsp;&nbsp;13.30 | (18.87) | &nbsp;&nbsp;&nbsp;76671 | 1.36 | 1.40 | &nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;45<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;13.30 | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;1.99 | &nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;15.32 | &nbsp;&nbsp;16.99 | &nbsp;&nbsp;&nbsp;82697 | 1.36 | 1.44 | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;32 |
| 06/30/24 | &nbsp;&nbsp;15.32 | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;15.63 | &nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp;&nbsp;78145 | 1.34 | 1.47 | &nbsp;&nbsp;1.44 | 112 |
| 06/30/25 | &nbsp;&nbsp;15.63 | &nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;3.43 | &nbsp;&nbsp;&nbsp;3.95 | &nbsp;&nbsp;(0.56) | &nbsp;&nbsp;(0.92) | &nbsp;&nbsp;(1.48) | &nbsp;&nbsp;18.10 | &nbsp;&nbsp;27.73 | &nbsp;&nbsp;&nbsp;85991 | 1.26 | 1.51 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;20 |
| 12/31/25<sup>(4)</sup> | &nbsp;&nbsp;18.10 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;3.38 | &nbsp;&nbsp;&nbsp;3.54 | &nbsp;&nbsp;(0.65) | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(1.54) | &nbsp;&nbsp;20.10 | &nbsp;&nbsp;&nbsp;&nbsp;19.59<sup>(5)</sup> | &nbsp;&nbsp;100114 | &nbsp;&nbsp;&nbsp;1.26<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.42<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.63<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;18<sup>(5)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $12.99 | $(0.04) | $4.60 | $4.56 | $(—)<sup>(7)</sup> | $— | $(—)<sup>(7)</sup> | $17.55 | &nbsp;&nbsp;35.14% | $2115 | 2.15% | 2.90% | (0.24)% | &nbsp;&nbsp;31% |
| 06/30/22 | &nbsp;&nbsp;17.55 | &nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;(3.18) | &nbsp;&nbsp;(3.11) | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;(2.24) | &nbsp;&nbsp;(2.26) | &nbsp;&nbsp;12.18 | (19.45) | &nbsp;&nbsp;&nbsp;&nbsp;2399 | 1.99 | 2.71 | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;45<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;12.18 | &nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;1.96 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;13.97 | &nbsp;&nbsp;16.27 | &nbsp;&nbsp;&nbsp;&nbsp;2327 | 1.99 | 2.80 | &nbsp;&nbsp;1.12 | &nbsp;&nbsp;32 |
| 06/30/24 | &nbsp;&nbsp;13.97 | &nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;14.23 | &nbsp;&nbsp;&nbsp;2.85 | &nbsp;&nbsp;&nbsp;&nbsp;1797 | 1.97 | 2.84 | &nbsp;&nbsp;0.81 | 112 |
| 06/30/25 | &nbsp;&nbsp;14.23 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp;3.50 | &nbsp;&nbsp;(0.46) | &nbsp;&nbsp;(0.92) | &nbsp;&nbsp;(1.38) | &nbsp;&nbsp;16.35 | &nbsp;&nbsp;26.94 | &nbsp;&nbsp;&nbsp;&nbsp;1525 | 1.86 | 3.21 | &nbsp;&nbsp;2.63 | &nbsp;&nbsp;20 |
| 12/31/25<sup>(4)</sup> | &nbsp;&nbsp;16.35 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;3.04 | &nbsp;&nbsp;&nbsp;3.13 | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(1.46) | &nbsp;&nbsp;18.02 | &nbsp;&nbsp;&nbsp;&nbsp;19.18<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;1.85<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;3.31<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.04<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;18<sup>(5)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $13.73 | $0.15 | $4.88 | $5.03 | $(0.11) | $— | $(0.11) | $18.65 | &nbsp;&nbsp;36.71% | $27903 | 0.99% | 1.19% | &nbsp;&nbsp;0.93% | &nbsp;&nbsp;31% |
| 06/30/22 | &nbsp;&nbsp;18.65 | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;(3.40) | &nbsp;&nbsp;(3.17) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(2.24) | &nbsp;&nbsp;(2.37) | &nbsp;&nbsp;13.11 | (18.61) | &nbsp;&nbsp;&nbsp;20430 | 0.99 | 1.19 | &nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;&nbsp;45<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;13.11 | &nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;1.97 | &nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;15.13 | &nbsp;&nbsp;17.46 | &nbsp;&nbsp;&nbsp;25324 | 0.99 | 1.23 | &nbsp;&nbsp;2.12 | &nbsp;&nbsp;32 |
| 06/30/24 | &nbsp;&nbsp;15.13 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;15.44 | &nbsp;&nbsp;&nbsp;3.83 | &nbsp;&nbsp;&nbsp;25049 | 0.97 | 1.24 | &nbsp;&nbsp;1.81 | 112 |
| 06/30/25 | &nbsp;&nbsp;15.44 | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;3.38 | &nbsp;&nbsp;&nbsp;3.95 | &nbsp;&nbsp;(0.62) | &nbsp;&nbsp;(0.92) | &nbsp;&nbsp;(1.54) | &nbsp;&nbsp;17.85 | &nbsp;&nbsp;28.21 | &nbsp;&nbsp;&nbsp;26807 | 0.89 | 1.28 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;20 |
| 12/31/25<sup>(4)</sup> | &nbsp;&nbsp;17.85 | &nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;3.33 | &nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;(0.70) | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(1.59) | &nbsp;&nbsp;19.78 | &nbsp;&nbsp;&nbsp;&nbsp;19.79<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;44240 | &nbsp;&nbsp;&nbsp;0.89<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.19<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.00<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;18<sup>(5)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $13.71 | $0.16 | $4.88 | $5.04 | $(0.12) | $— | $(0.12) | $18.63 | &nbsp;&nbsp;36.83% | $4315 | 0.89% | 1.06% | &nbsp;&nbsp;1.03% | &nbsp;&nbsp;31% |
| 06/30/22 | &nbsp;&nbsp;18.63 | &nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;(3.40) | &nbsp;&nbsp;(3.15) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(2.24) | &nbsp;&nbsp;(2.39) | &nbsp;&nbsp;13.09 | (18.52) | &nbsp;&nbsp;&nbsp;&nbsp;3273 | 0.89 | 1.34 | &nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;45<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;13.09 | &nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;15.11 | &nbsp;&nbsp;17.54 | &nbsp;&nbsp;&nbsp;&nbsp;3830 | 0.89 | 1.23 | &nbsp;&nbsp;2.22 | &nbsp;&nbsp;32 |
| 06/30/24 | &nbsp;&nbsp;15.11 | &nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;15.41 | &nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | 0.88 | 1.35 | &nbsp;&nbsp;1.91 | 112 |
| 06/30/25 | &nbsp;&nbsp;15.41 | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;3.94 | &nbsp;&nbsp;(0.75) | &nbsp;&nbsp;(0.92) | &nbsp;&nbsp;(1.67) | &nbsp;&nbsp;17.68 | &nbsp;&nbsp;28.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602 | 0.78 | 3.80 | &nbsp;&nbsp;3.72 | &nbsp;&nbsp;20 |
| 12/31/25<sup>(4)</sup> | &nbsp;&nbsp;17.68 | &nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;3.30 | &nbsp;&nbsp;&nbsp;3.50 | &nbsp;&nbsp;(0.74) | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(1.63) | &nbsp;&nbsp;19.55 | &nbsp;&nbsp;&nbsp;&nbsp;19.84<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;&nbsp;0.77<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;3.88<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.12<sup>(6)</sup> | &nbsp;&nbsp;18<sup>(5)</sup> |

---

*<sup>(1)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(2)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(3)</sup>* *Portfolio turnover excludes the purchases and sales of securities by the AIG International Dividend Strategy Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher.* 

*<sup>(4)</sup>* *Unaudited.* 

*<sup>(5)</sup>* *Not annualized.* 

*<sup>(6)</sup>* *Annualized.* 

*<sup>(7)</sup>* *Less than $0.005 per share.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** | **Touchstone Large Cap Focused Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $42.30 | &nbsp;&nbsp;&nbsp;$0.08<sup>(3)</sup> | $19.10 | $19.18 | $(0.09) | $(2.71) | $(2.80) | $58.68 | &nbsp;&nbsp;46.68% | $1541127 | 1.01% | 1.05% | &nbsp;&nbsp;0.15%16%<sup>(4)</sup> |
| 06/30/22 | &nbsp;&nbsp;58.68 | &nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;(7.56) | &nbsp;&nbsp;&nbsp;(7.52) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(3.91) | &nbsp;&nbsp;(3.96) | &nbsp;&nbsp;47.20 | (14.07) | &nbsp;&nbsp;1736900 | 0.99 | 0.99 | &nbsp;&nbsp;0.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;47.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.21<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.72 | &nbsp;&nbsp;&nbsp;&nbsp;9.93 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.76) | &nbsp;&nbsp;56.37 | &nbsp;&nbsp;21.28 | &nbsp;&nbsp;1928303 | 1.01 | 1.02 | &nbsp;&nbsp;0.43&nbsp;&nbsp;&nbsp;&nbsp;4<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;56.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.31<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;&nbsp;9.99 | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;65.97 | &nbsp;&nbsp;17.79 | &nbsp;&nbsp;2084764 | 1.00 | 1.00 | &nbsp;&nbsp;0.51&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(4)</sup> |
| 06/30/25 | &nbsp;&nbsp;65.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.15<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.69 | &nbsp;&nbsp;&nbsp;&nbsp;9.84 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.47) | &nbsp;&nbsp;75.34 | &nbsp;&nbsp;14.95 | &nbsp;&nbsp;2189303 | 0.98 | 0.98 | &nbsp;&nbsp;0.21&nbsp;&nbsp;&nbsp;&nbsp;7<sup>(4)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;75.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7.85 | &nbsp;&nbsp;&nbsp;&nbsp;7.89 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;(1.20) | &nbsp;&nbsp;82.03 | &nbsp;&nbsp;&nbsp;&nbsp;10.47<sup>(7)</sup> | &nbsp;&nbsp;2314481 | &nbsp;&nbsp;&nbsp;0.97<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.97<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.10<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(7)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $39.16 | $(0.30)<sup>(3)</sup> | $17.58 | $17.28 | $— | $(2.71) | $(2.71) | $53.73 | &nbsp;&nbsp;45.49% | $41645 | 1.80% | 1.88% | (0.64)%16%<sup>(4)</sup> |
| 06/30/22 | &nbsp;&nbsp;53.73 | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;&nbsp;(7.18) | &nbsp;&nbsp;&nbsp;(7.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.91) | &nbsp;&nbsp;(3.91) | &nbsp;&nbsp;42.62 | (14.78) | &nbsp;&nbsp;&nbsp;&nbsp;49115 | 1.80 | 1.80 | (0.68)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;42.62 | &nbsp;&nbsp;(0.16)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8.73 | &nbsp;&nbsp;&nbsp;&nbsp;8.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;50.51 | &nbsp;&nbsp;20.35 | &nbsp;&nbsp;&nbsp;&nbsp;50451 | 1.80 | 1.84 | (0.36)&nbsp;&nbsp;&nbsp;&nbsp;4<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;50.51 | &nbsp;&nbsp;(0.15)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;&nbsp;8.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;58.96 | &nbsp;&nbsp;16.84 | &nbsp;&nbsp;&nbsp;&nbsp;51919 | 1.80 | 1.81 | (0.29)&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(4)</sup> |
| 06/30/25 | &nbsp;&nbsp;58.96 | &nbsp;&nbsp;(0.38)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8.64 | &nbsp;&nbsp;&nbsp;&nbsp;8.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;66.93 | &nbsp;&nbsp;14.02 | &nbsp;&nbsp;&nbsp;&nbsp;44931 | 1.80 | 1.80 | (0.60)&nbsp;&nbsp;&nbsp;&nbsp;7<sup>(4)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;66.93 | &nbsp;&nbsp;(0.26)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6.96 | &nbsp;&nbsp;&nbsp;&nbsp;6.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;72.60 | &nbsp;&nbsp;&nbsp;&nbsp;10.02<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;44652 | &nbsp;&nbsp;&nbsp;1.80<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;1.81<sup>(8)</sup> | (0.73)<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(7)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $42.18 | &nbsp;&nbsp;&nbsp;$0.22<sup>(3)</sup> | $19.05 | $19.27 | $(0.16) | $(2.71) | $(2.87) | $58.58 | &nbsp;&nbsp;47.07% | $575053 | 0.73% | 0.86% | &nbsp;&nbsp;0.43%16%<sup>(4)</sup> |
| 06/30/22 | &nbsp;&nbsp;58.58 | &nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;(7.57) | &nbsp;&nbsp;&nbsp;(7.37) | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(3.91) | &nbsp;&nbsp;(4.07) | &nbsp;&nbsp;47.14 | (13.86) | &nbsp;&nbsp;&nbsp;&nbsp;493825 | 0.73 | 0.78 | &nbsp;&nbsp;0.39&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;47.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.35<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.72 | &nbsp;&nbsp;&nbsp;10.07 | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.84) | &nbsp;&nbsp;56.37 | &nbsp;&nbsp;21.65 | &nbsp;&nbsp;&nbsp;&nbsp;670688 | 0.73 | 0.81 | &nbsp;&nbsp;0.71&nbsp;&nbsp;&nbsp;&nbsp;4<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;56.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.47<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;10.14 | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(0.54) | &nbsp;&nbsp;65.97 | &nbsp;&nbsp;18.11 | &nbsp;&nbsp;&nbsp;&nbsp;881916 | 0.73 | 0.79 | &nbsp;&nbsp;0.78&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(4)</sup> |
| 06/30/25 | &nbsp;&nbsp;65.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.33<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.69 | &nbsp;&nbsp;&nbsp;10.02 | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.65) | &nbsp;&nbsp;75.34 | &nbsp;&nbsp;15.23 | &nbsp;&nbsp;&nbsp;&nbsp;931810 | 0.73 | 0.77 | &nbsp;&nbsp;0.47&nbsp;&nbsp;&nbsp;&nbsp;7<sup>(4)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;75.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.13<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7.86 | &nbsp;&nbsp;&nbsp;&nbsp;7.99 | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;(1.39) | &nbsp;&nbsp;81.94 | &nbsp;&nbsp;&nbsp;&nbsp;10.60<sup>(7)</sup> | &nbsp;&nbsp;1001631 | &nbsp;&nbsp;&nbsp;0.73<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.75<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.34<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(7)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $42.24 | &nbsp;&nbsp;&nbsp;$0.23<sup>(3)</sup> | $19.10 | $19.33 | $(0.17) | $(2.71) | $(2.88) | $58.69 | &nbsp;&nbsp;47.14% | $207274 | 0.70% | 0.81% | &nbsp;&nbsp;0.46%16%<sup>(4)</sup> |
| 06/30/22 | &nbsp;&nbsp;58.69 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;(7.63) | &nbsp;&nbsp;&nbsp;(7.37) | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(3.91) | &nbsp;&nbsp;(4.09) | &nbsp;&nbsp;47.23 | (13.85) | &nbsp;&nbsp;&nbsp;&nbsp;217531 | 0.70 | 0.73 | &nbsp;&nbsp;0.42&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;47.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.37<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.73 | &nbsp;&nbsp;&nbsp;10.10 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;56.48 | &nbsp;&nbsp;21.68 | &nbsp;&nbsp;&nbsp;&nbsp;265418 | 0.70 | 0.75 | &nbsp;&nbsp;0.74&nbsp;&nbsp;&nbsp;&nbsp;4<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;56.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.48<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;10.18 | &nbsp;&nbsp;(0.51) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(0.56) | &nbsp;&nbsp;66.10 | &nbsp;&nbsp;18.13 | &nbsp;&nbsp;&nbsp;&nbsp;274624 | 0.70 | 0.72 | &nbsp;&nbsp;0.81&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(4)</sup> |
| 06/30/25 | &nbsp;&nbsp;66.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.35<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.72 | &nbsp;&nbsp;&nbsp;10.07 | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.67) | &nbsp;&nbsp;75.50 | &nbsp;&nbsp;15.27 | &nbsp;&nbsp;&nbsp;&nbsp;227984 | 0.70 | 0.71 | &nbsp;&nbsp;0.50&nbsp;&nbsp;&nbsp;&nbsp;7<sup>(4)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;75.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.15<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7.88 | &nbsp;&nbsp;&nbsp;&nbsp;8.03 | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;(1.41) | &nbsp;&nbsp;82.12 | &nbsp;&nbsp;&nbsp;&nbsp;10.64<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;205168 | &nbsp;&nbsp;&nbsp;0.70<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.70<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.37<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(7)</sup> |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 06/30/22<sup>(9)</sup> | $61.99 | $0.22 | $(10.89) | $(10.67) | $(0.16) | $(3.91) | $(4.07) | $47.25 | (18.43)%<sup>(7)</sup> | $804 | 0.66%<sup>(8)</sup> | 3.02%<sup>(8)</sup> | &nbsp;&nbsp;0.47%<sup>(8)</sup>27%<sup>(4)(5)</sup> |
| 06/30/23 | &nbsp;&nbsp;47.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.39<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.74 | &nbsp;&nbsp;&nbsp;10.13 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;56.53 | &nbsp;&nbsp;21.73 | &nbsp;&nbsp;&nbsp;&nbsp;20862 | 0.66 | 1.19 | &nbsp;&nbsp;0.78&nbsp;&nbsp;&nbsp;&nbsp;4<sup>(4)</sup> |
| 06/30/24 | &nbsp;&nbsp;56.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.51<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;10.21 | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;66.17 | &nbsp;&nbsp;18.18 | &nbsp;&nbsp;&nbsp;&nbsp;66248 | 0.66 | 0.73 | &nbsp;&nbsp;0.85&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(4)</sup> |
| 06/30/25 | &nbsp;&nbsp;66.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.38<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.73 | &nbsp;&nbsp;&nbsp;10.11 | &nbsp;&nbsp;(0.41) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.70) | &nbsp;&nbsp;75.58 | &nbsp;&nbsp;15.32 | &nbsp;&nbsp;&nbsp;&nbsp;68075 | 0.66 | 0.69 | &nbsp;&nbsp;0.54&nbsp;&nbsp;&nbsp;&nbsp;7<sup>(4)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;75.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.16<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7.88 | &nbsp;&nbsp;&nbsp;&nbsp;8.04 | &nbsp;&nbsp;(0.41) | &nbsp;&nbsp;(1.03) | &nbsp;&nbsp;(1.44) | &nbsp;&nbsp;82.18 | &nbsp;&nbsp;&nbsp;&nbsp;10.65<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;72622 | &nbsp;&nbsp;&nbsp;0.66<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.69<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.41<sup>(8)</sup>&nbsp;&nbsp;3<sup>(4)(7)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *The ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.01%, 0.01%, 0.01%, 0.01% and 0.01% for the six months ended Dec 31, 2025 and the years ended June 30, 2025, 2024, 2023, 2022 and 2021, respectively.* 

*<sup>(3)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(4)</sup>* *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* 

*<sup>(5)</sup>* *Portfolio turnover excludes the purchases and sales of securities of the AIG Focused Alpha Large-Cap Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher.* 

*<sup>(6)</sup>* *Unaudited.* 

*<sup>(7)</sup>* *Not annualized.* 

*<sup>(8)</sup>* *Annualized.* 

*<sup>(9)</sup>* *Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** | **Touchstone Large Cap Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $13.04 | $0.11 | $4.83 | $4.94 | $(0.12) | $— | $(0.12) | $17.86 | &nbsp;&nbsp;38.06% | $4278 | 1.04% | 1.53% | &nbsp;&nbsp;0.75%15%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;17.86 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;(2.03) | &nbsp;&nbsp;(1.95) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;15.39 | (11.44) | &nbsp;&nbsp;&nbsp;&nbsp;4510 | 1.05 | 1.48 | &nbsp;&nbsp;0.51&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;15.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.12<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;2.40 | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;(0.59) | &nbsp;&nbsp;17.20 | &nbsp;&nbsp;15.96 | &nbsp;&nbsp;&nbsp;&nbsp;5259 | 1.06 | 1.42 | &nbsp;&nbsp;0.75&nbsp;&nbsp;&nbsp;17<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;17.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.12<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;18.46 | &nbsp;&nbsp;&nbsp;9.06 | &nbsp;&nbsp;&nbsp;&nbsp;6464 | 1.04 | 1.39 | &nbsp;&nbsp;0.67&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;18.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.12<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;(0.67) | &nbsp;&nbsp;19.74 | &nbsp;&nbsp;10.51 | &nbsp;&nbsp;&nbsp;&nbsp;7518 | 1.04 | 1.34 | &nbsp;&nbsp;0.63&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;19.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.03<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(0.48) | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;20.35 | &nbsp;&nbsp;&nbsp;&nbsp;5.85<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7715 | &nbsp;&nbsp;&nbsp;1.04<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.38<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.33<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(3)(6)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $12.79 | $(0.10) | $4.84 | $4.74 | $— | $— | $— | $17.53 | &nbsp;&nbsp;37.06% | $4328 | 1.79% | 2.03% | &nbsp;&nbsp;&nbsp;(—)%<sup>(8)</sup>15%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;17.53 | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;(1.96) | &nbsp;&nbsp;(2.06) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;15.07 | (12.15) | &nbsp;&nbsp;&nbsp;&nbsp;2995 | 1.80 | 2.12 | (0.24)&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;15.07 | &nbsp;&nbsp;&nbsp;&nbsp;(—)<sup>(4)(8)</sup> | &nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;16.73 | &nbsp;&nbsp;15.10 | &nbsp;&nbsp;&nbsp;&nbsp;2036 | 1.81 | 2.17 | &nbsp;&nbsp;&nbsp;(—)<sup>(8)</sup>&nbsp;&nbsp;&nbsp;17<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;16.73 | &nbsp;&nbsp;(0.01)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;18.03 | &nbsp;&nbsp;&nbsp;8.20 | &nbsp;&nbsp;&nbsp;&nbsp;1353 | 1.79 | 2.46 | (0.08)&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;18.03 | &nbsp;&nbsp;(0.02)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;19.26 | &nbsp;&nbsp;&nbsp;9.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623 | 1.79 | 3.02 | (0.12)&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;19.26 | &nbsp;&nbsp;(0.04)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.48) | &nbsp;&nbsp;(0.48) | &nbsp;&nbsp;19.83 | &nbsp;&nbsp;&nbsp;&nbsp;5.43<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;1.78<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;3.96<sup>(7)</sup> | (0.41)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(3)(6)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $13.07 | $0.16 | $4.83 | $4.99 | $(0.18) | $— | $(0.18) | $17.88 | &nbsp;&nbsp;38.39% | $270305 | 0.79% | 0.88% | &nbsp;&nbsp;1.00%15%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;17.88 | &nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;(2.05) | &nbsp;&nbsp;(1.90) | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;(0.56) | &nbsp;&nbsp;15.42 | (11.20) | &nbsp;&nbsp;202913 | 0.80 | 0.88 | &nbsp;&nbsp;0.76&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;15.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.16<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;(0.65) | &nbsp;&nbsp;17.22 | &nbsp;&nbsp;16.24 | &nbsp;&nbsp;206214 | 0.81 | 0.90 | &nbsp;&nbsp;1.00&nbsp;&nbsp;&nbsp;17<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;17.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.16<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;18.48 | &nbsp;&nbsp;&nbsp;9.28 | &nbsp;&nbsp;207868 | 0.79 | 0.89 | &nbsp;&nbsp;0.92&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;18.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.17<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;(0.72) | &nbsp;&nbsp;19.78 | &nbsp;&nbsp;10.86 | &nbsp;&nbsp;217878 | 0.79 | 0.89 | &nbsp;&nbsp;0.88&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;19.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.06<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;(0.48) | &nbsp;&nbsp;(0.58) | &nbsp;&nbsp;20.38 | &nbsp;&nbsp;&nbsp;&nbsp;5.92<sup>(6)</sup> | &nbsp;&nbsp;222732 | &nbsp;&nbsp;&nbsp;0.79<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.88<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.58<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(3)(6)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $13.09 | $0.16 | $4.86 | $5.02 | $(0.20) | $— | $(0.20) | $17.91 | &nbsp;&nbsp;38.59% | $90358 | 0.69% | 0.82% | &nbsp;&nbsp;1.10%15%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;17.91 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;(2.08) | &nbsp;&nbsp;(1.90) | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;15.44 | (11.15) | &nbsp;&nbsp;&nbsp;67679 | 0.70 | 0.82 | &nbsp;&nbsp;0.86&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;15.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.18<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;(0.57) | &nbsp;&nbsp;(0.67) | &nbsp;&nbsp;17.23 | &nbsp;&nbsp;16.35 | &nbsp;&nbsp;&nbsp;60341 | 0.71 | 0.85 | &nbsp;&nbsp;1.10&nbsp;&nbsp;&nbsp;17<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;17.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.18<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;18.50 | &nbsp;&nbsp;&nbsp;9.45 | &nbsp;&nbsp;&nbsp;64183 | 0.69 | 0.83 | &nbsp;&nbsp;1.02&nbsp;&nbsp;&nbsp;&nbsp;6<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;18.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.19<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;2.03 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.55) | &nbsp;&nbsp;(0.73) | &nbsp;&nbsp;19.80 | &nbsp;&nbsp;10.95 | &nbsp;&nbsp;&nbsp;69131 | 0.69 | 0.83 | &nbsp;&nbsp;0.98&nbsp;&nbsp;&nbsp;12<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;19.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.07<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;(0.48) | &nbsp;&nbsp;(0.58) | &nbsp;&nbsp;20.40 | &nbsp;&nbsp;&nbsp;&nbsp;5.96<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;73229 | &nbsp;&nbsp;&nbsp;0.69<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.82<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.68<sup>(7)</sup>&nbsp;&nbsp;5<sup>(3)(6)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *The ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.01%, 0.01%, 0.03%, 0.02% and 0.01% for the six months ended December 31, 2025 and for the years ended June 30, 2025, 2024, 2023, 2022 and 2021, respectively.* 

*<sup>(3)</sup>* *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* 

*<sup>(4)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(5)</sup>* *Unaudited.* 

*<sup>(6)</sup>* *Not annualized.* 

*<sup>(7)</sup>* *Annualized.* 

*<sup>(8)</sup>* *Less than $0.005 per share or 0.005%.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** | **Touchstone Large Company Growth Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> loss** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $47.46 | $(0.15) | $16.56 | $16.41 | $(6.61) | $(6.61) | $57.26 | &nbsp;&nbsp;37.33% | $3617 | 1.06% | 1.59% | (0.71)%36%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;57.26 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(10.40) | &nbsp;&nbsp;(10.58) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;36.16 | (23.29) | &nbsp;&nbsp;&nbsp;&nbsp;3290 | 1.07 | 1.58 | (0.61)&nbsp;&nbsp;&nbsp;41<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;36.16 | &nbsp;&nbsp;(0.17)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6.10 | &nbsp;&nbsp;&nbsp;&nbsp;5.93 | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;40.86 | &nbsp;&nbsp;16.89 | &nbsp;&nbsp;&nbsp;&nbsp;3711 | 1.08 | 1.57 | (0.46)&nbsp;&nbsp;&nbsp;44<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;40.86 | &nbsp;&nbsp;(0.30)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;16.72 | &nbsp;&nbsp;&nbsp;16.42 | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;55.36 | &nbsp;&nbsp;41.47 | &nbsp;&nbsp;&nbsp;&nbsp;5337 | 1.07 | 1.53 | (0.65)&nbsp;&nbsp;&nbsp;39<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;55.36 | &nbsp;&nbsp;(0.38)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.04 | &nbsp;&nbsp;&nbsp;&nbsp;8.66 | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;62.41 | &nbsp;&nbsp;15.86 | &nbsp;&nbsp;&nbsp;&nbsp;6389 | 1.05 | 1.40 | (0.68)&nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;62.41 | &nbsp;&nbsp;(0.23)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;61.18 | &nbsp;&nbsp;&nbsp;&nbsp;2.52<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6869 | &nbsp;&nbsp;&nbsp;1.06<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.41<sup>(7)</sup> | (0.73)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)(6)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $45.93 | $(1.42) | $16.81 | $15.39 | $(6.61) | $(6.61) | $54.71 | &nbsp;&nbsp;36.28% | $473 | 1.81% | 3.39% | (1.46)%36%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;54.71 | &nbsp;&nbsp;(1.24) | &nbsp;&nbsp;&nbsp;(9.03) | &nbsp;&nbsp;(10.27) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;33.92 | (23.87) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | 1.82 | 4.24 | (1.36)&nbsp;&nbsp;&nbsp;41<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;33.92 | &nbsp;&nbsp;(0.42)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;5.26 | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;37.95 | &nbsp;&nbsp;16.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | 1.83 | 5.86 | (1.21)&nbsp;&nbsp;&nbsp;44<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;37.95 | &nbsp;&nbsp;(0.58)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;15.41 | &nbsp;&nbsp;&nbsp;14.83 | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;50.86 | &nbsp;&nbsp;40.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | 1.82 | 6.43 | (1.40)&nbsp;&nbsp;&nbsp;39<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;50.86 | &nbsp;&nbsp;(0.73)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;&nbsp;&nbsp;7.50 | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;56.75 | &nbsp;&nbsp;14.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | 1.80 | 7.83 | (1.43)&nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;56.75 | &nbsp;&nbsp;(0.43)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;55.17 | &nbsp;&nbsp;&nbsp;&nbsp;2.15<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;1.81<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;8.17<sup>(7)</sup> | (1.48)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)(6)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $47.97 | $(0.26) | $17.00 | $16.74 | $(6.61) | $(6.61) | $58.10 | &nbsp;&nbsp;37.64% | $28952 | 0.81% | 0.96% | (0.46)%36%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;58.10 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(10.49) | &nbsp;&nbsp;(10.67) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;36.91 | (23.09) | &nbsp;&nbsp;&nbsp;13917 | 0.82 | 0.97 | (0.36)&nbsp;&nbsp;&nbsp;41<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;36.91 | &nbsp;&nbsp;(0.08)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6.24 | &nbsp;&nbsp;&nbsp;&nbsp;6.16 | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;41.84 | &nbsp;&nbsp;17.17 | &nbsp;&nbsp;&nbsp;&nbsp;7266 | 0.83 | 1.07 | (0.21)&nbsp;&nbsp;&nbsp;44<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;41.84 | &nbsp;&nbsp;(0.19)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;17.17 | &nbsp;&nbsp;&nbsp;16.98 | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;56.90 | &nbsp;&nbsp;41.85 | &nbsp;&nbsp;&nbsp;10199 | 0.82 | 1.08 | (0.40)&nbsp;&nbsp;&nbsp;39<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;56.90 | &nbsp;&nbsp;(0.25)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.31 | &nbsp;&nbsp;&nbsp;&nbsp;9.06 | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;64.35 | &nbsp;&nbsp;16.15 | &nbsp;&nbsp;&nbsp;10726 | 0.80 | 1.01 | (0.43)&nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;64.35 | &nbsp;&nbsp;(0.16)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;63.25 | &nbsp;&nbsp;&nbsp;&nbsp;2.65<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;10277 | &nbsp;&nbsp;&nbsp;0.81<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.04<sup>(7)</sup> | (0.48)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20<sup>(3)(6)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $48.18 | $(0.21) | $17.10 | $16.89 | $(6.61) | $(6.61) | $58.46 | &nbsp;&nbsp;37.80% | $229690 | 0.71% | 0.85% | (0.36)%36%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;58.46 | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(10.58) | &nbsp;&nbsp;(10.72) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;(10.52) | &nbsp;&nbsp;37.22 | (23.03) | &nbsp;&nbsp;145441 | 0.72 | 0.84 | (0.26)&nbsp;&nbsp;&nbsp;41<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;37.22 | &nbsp;&nbsp;(0.04)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6.30 | &nbsp;&nbsp;&nbsp;&nbsp;6.26 | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;42.25 | &nbsp;&nbsp;17.30 | &nbsp;&nbsp;135324 | 0.73 | 0.88 | (0.11)&nbsp;&nbsp;&nbsp;44<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;42.25 | &nbsp;&nbsp;(0.14)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;17.35 | &nbsp;&nbsp;&nbsp;17.21 | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;&nbsp;(1.92) | &nbsp;&nbsp;57.54 | &nbsp;&nbsp;41.99 | &nbsp;&nbsp;137363 | 0.72 | 0.89 | (0.30)&nbsp;&nbsp;&nbsp;39<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;57.54 | &nbsp;&nbsp;(0.19)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;9.23 | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;65.16 | &nbsp;&nbsp;16.26 | &nbsp;&nbsp;152364 | 0.70 | 0.86 | (0.33)&nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;65.16 | &nbsp;&nbsp;(0.13)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;&nbsp;(2.83) | &nbsp;&nbsp;64.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.71<sup>(6)</sup> | &nbsp;&nbsp;145608 | &nbsp;&nbsp;&nbsp;0.71<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.85<sup>(7)</sup> | (0.38)<sup>(7)</sup>20<sup>(3)(6)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *The ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.02%, 0.01%, 0.03%, 0.04%, 0.03% and 0.02% for the six months ended December 31, 2025 and for the years ended June 30, 2025, 2024, 2023, 2022 and 2021, respectively.* 

*<sup>(3)</sup>* *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* 

*<sup>(4)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(5)</sup>* *Unaudited.* 

*<sup>(6)</sup>* *Not annualized.* 

*<sup>(7)</sup>* *Annualized.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** | **Touchstone Small Company Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(2)</sup>** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $4.06 | $(0.03) | $2.65 | $2.62 | $— | $(0.01) | $(0.01) | $6.67 | &nbsp;&nbsp;64.45% | $608513 | 1.20% | 1.20% | (0.45)%80%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;6.67 | &nbsp;&nbsp;(0.02)<sup>(4)</sup> | &nbsp;&nbsp;(0.95) | &nbsp;&nbsp;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;4.56 | (17.95) | &nbsp;&nbsp;451081 | 1.17 | 1.17 | (0.31)&nbsp;&nbsp;&nbsp;70<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;4.56 | &nbsp;&nbsp;&nbsp;&nbsp;(—)<sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;15.80 | &nbsp;&nbsp;484105 | 1.19 | 1.19 | &nbsp;&nbsp;&nbsp;(—)<sup>(5)</sup>&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;&nbsp;&nbsp;(—)<sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;5.78 | &nbsp;&nbsp;12.41 | &nbsp;&nbsp;500584 | 1.18 | 1.18 | &nbsp;&nbsp;&nbsp;(—)<sup>(5)</sup>&nbsp;&nbsp;&nbsp;59<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;5.78 | &nbsp;&nbsp;(0.01)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;5.99 | &nbsp;&nbsp;&nbsp;9.55 | &nbsp;&nbsp;480704 | 1.15 | 1.15 | (0.24)&nbsp;&nbsp;&nbsp;47<sup>(3)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;5.99 | &nbsp;&nbsp;(0.01)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;6.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.37<sup>(7)</sup> | &nbsp;&nbsp;500354 | &nbsp;&nbsp;&nbsp;1.11<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;1.11<sup>(8)</sup> | (0.23)<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31<sup>(3)(7)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21^ | $5.25 | $(0.11) | $3.41 | $3.30 | $— | $(0.03) | $(0.03) | $8.52 | &nbsp;&nbsp;62.65% | $26123 | 1.97% | 2.05% | (1.22)%80%<sup>(3)</sup> |
| 06/30/22^ | &nbsp;&nbsp;8.52 | &nbsp;&nbsp;(0.08)<sup>(4)</sup> | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(0.97) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.01) | &nbsp;&nbsp;(3.01) | &nbsp;&nbsp;4.54 | (18.70) | &nbsp;&nbsp;&nbsp;17385 | 1.97 | 2.02 | (1.11)&nbsp;&nbsp;&nbsp;70<sup>(3)</sup> |
| 06/30/23^ | &nbsp;&nbsp;4.54 | &nbsp;&nbsp;(0.03)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;5.10 | &nbsp;&nbsp;15.26 | &nbsp;&nbsp;&nbsp;15992 | 1.96 | 2.06 | (0.77)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;5.10 | &nbsp;&nbsp;(0.04)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;5.67 | &nbsp;&nbsp;11.35 | &nbsp;&nbsp;&nbsp;14146 | 1.96 | 2.06 | (0.78)&nbsp;&nbsp;&nbsp;59<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;5.67 | &nbsp;&nbsp;(0.06)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;5.83 | &nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;13376 | 1.96 | 2.02 | (1.05)&nbsp;&nbsp;&nbsp;47<sup>(3)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;5.83 | &nbsp;&nbsp;(0.03)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;6.01 | &nbsp;&nbsp;&nbsp;&nbsp;9.12<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;11963 | &nbsp;&nbsp;&nbsp;1.95<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;2.03<sup>(8)</sup> | (1.07)<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31<sup>(3)(7)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $4.53 | $(0.01) | $2.94 | $2.93 | $(—)<sup>(5)</sup> | $(0.01) | $(0.01) | $7.45 | &nbsp;&nbsp;64.61% | $282428 | 0.91% | 0.99% | (0.16)%80%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;7.45 | &nbsp;&nbsp;&nbsp;&nbsp;(—)<sup>(4)(5)</sup> | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;(1.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;5.21 | (17.81) | &nbsp;&nbsp;222141 | 0.91 | 0.97 | (0.05)&nbsp;&nbsp;&nbsp;70<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;5.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;5.93 | &nbsp;&nbsp;16.33 | &nbsp;&nbsp;312720 | 0.90 | 0.98 | &nbsp;&nbsp;0.29&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;5.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;6.67 | &nbsp;&nbsp;12.63 | &nbsp;&nbsp;429455 | 0.90 | 0.96 | &nbsp;&nbsp;0.28&nbsp;&nbsp;&nbsp;59<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;6.96 | &nbsp;&nbsp;&nbsp;9.80 | &nbsp;&nbsp;562970 | 0.90 | 0.93 | &nbsp;&nbsp;0.01&nbsp;&nbsp;&nbsp;47<sup>(3)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;6.96 | &nbsp;&nbsp;&nbsp;&nbsp;(—)<sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;7.28 | &nbsp;&nbsp;&nbsp;&nbsp;9.65<sup>(7)</sup> | &nbsp;&nbsp;801016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.89<sup>(8)(9)</sup> | &nbsp;&nbsp;&nbsp;0.88<sup>(8)</sup> | (0.01)<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31<sup>(3)(7)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $4.52 | $(—)<sup>(5)</sup> | $2.93 | $2.93 | $(—)<sup>(5)</sup> | $(0.01) | $(0.01) | $7.44 | &nbsp;&nbsp;64.75% | $18770 | 0.81% | 0.99% | (0.06)%80%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;7.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(4)(5)</sup> | &nbsp;&nbsp;(1.09) | &nbsp;&nbsp;(1.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;5.21 | (17.70) | &nbsp;&nbsp;&nbsp;21299 | 0.81 | 0.96 | &nbsp;&nbsp;0.05&nbsp;&nbsp;&nbsp;70<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;5.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;5.94 | &nbsp;&nbsp;16.52 | &nbsp;&nbsp;&nbsp;24638 | 0.80 | 0.96 | &nbsp;&nbsp;0.39&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;5.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;6.69 | &nbsp;&nbsp;12.78 | &nbsp;&nbsp;&nbsp;30779 | 0.80 | 0.94 | &nbsp;&nbsp;0.38&nbsp;&nbsp;&nbsp;59<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;6.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.01<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;6.99 | &nbsp;&nbsp;&nbsp;9.93 | &nbsp;&nbsp;&nbsp;31508 | 0.80 | 0.92 | &nbsp;&nbsp;0.11&nbsp;&nbsp;&nbsp;47<sup>(3)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;6.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;7.31 | &nbsp;&nbsp;&nbsp;&nbsp;9.61<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;37856 | &nbsp;&nbsp;&nbsp;0.79<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.88<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.09<sup>(8)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31<sup>(3)(7)</sup> |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 06/30/21 | $4.19 | $(—)<sup>(5)</sup> | $2.73 | $2.73 | $(—)<sup>(5)</sup> | $(0.01) | $(0.01) | $6.91 | &nbsp;&nbsp;65.08% | $63766 | 0.81% | 0.89% | (0.06)%80%<sup>(3)</sup> |
| 06/30/22 | &nbsp;&nbsp;6.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(4)(5)</sup> | &nbsp;&nbsp;(1.00) | &nbsp;&nbsp;(1.00) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;4.77 | (17.73) | &nbsp;&nbsp;&nbsp;53500 | 0.81 | 0.87 | &nbsp;&nbsp;0.05&nbsp;&nbsp;&nbsp;70<sup>(3)</sup> |
| 06/30/23 | &nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;5.42 | &nbsp;&nbsp;16.37 | &nbsp;&nbsp;&nbsp;65962 | 0.80 | 0.88 | &nbsp;&nbsp;0.39&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;5.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;6.10 | &nbsp;&nbsp;12.72 | &nbsp;&nbsp;&nbsp;81101 | 0.80 | 0.87 | &nbsp;&nbsp;0.38&nbsp;&nbsp;&nbsp;59<sup>(3)</sup> |
| 06/30/25 | &nbsp;&nbsp;6.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.01<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;6.34 | &nbsp;&nbsp;&nbsp;9.90 | &nbsp;&nbsp;&nbsp;84904 | 0.80 | 0.84 | &nbsp;&nbsp;0.11&nbsp;&nbsp;&nbsp;47<sup>(3)</sup> |
| 12/31/25<sup>(6)</sup> | &nbsp;&nbsp;6.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— <sup>(4)(5)</sup> | &nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;0.63 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;6.61 | &nbsp;&nbsp;&nbsp;&nbsp;9.81<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;97633 | &nbsp;&nbsp;&nbsp;0.79<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;0.80<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.09<sup>(8)</sup>31<sup>(3)(7)</sup> |

---

---

| | |
|:---|:---|
| *^* | *Updated to reflect the effect of a 1 for 0.379048 reverse stock split for Class C shares on October 14, 2022. All historical per share information has been retroactively adjusted to reflect this reverse stock split.* |
| *<sup>(1)</sup>* | *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* |
| *<sup>(2)</sup>* | *The ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.01%, 0.01%, 0.02% and 0.02% for the years ended June 30, 2025, 2024, 2023, 2022 and 2021, respectively.* |
| *<sup>(3)</sup>* | *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* |
| *<sup>(4)</sup>* | *The net investment income (loss) per share was based on average shares outstanding for the period.* |
| *<sup>(5)</sup>* | *Less than $0.005 per share or 0.005%.* |
| *<sup>(6)</sup>* | *Unaudited.* |
| *<sup>(7)</sup>* | *Not annualized.* |
| *<sup>(8)</sup>* | *Annualized.* |
| *<sup>(9)</sup>* | *Net expenses include amounts eligible for recoupment by the Adviser.* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** | **Touchstone Value Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income** | **Net<br> realized<br> and<br> unrealized<br> gains (losses)<br> on investments** | **Total from<br> investment<br> operations** | **Distributions<br> from net<br> investment<br> income** | **Distributions<br> from realized<br> capital<br> gains** | **Total<br> distributions** | **Net<br> asset<br> value<br> at end<br> of period** | **Total<br> return<sup>(1)</sup>** | **Net<br> assets<br> at end<br> of period<br> (000's)** | **Ratio of net<br> expenses<br> to average<br> net assets** | **Ratio of gross<br> expenses<br> to average<br> net assets** | **Ratio<br> of net<br> investment<br> income (loss)<br> to average<br> net assets** | **Portfolio<br> turnover<br> rate** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 06/30/21 | $7.95 | $0.10 | $3.62 | $3.72 | $(0.10) | $(0.16) | $(0.26) | $11.41 | 47.49% | $33052 | 1.08% | 1.24% | 1.08% | 37% |
| 06/30/22 | &nbsp;&nbsp;11.41 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;(0.63) | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;(0.97) | &nbsp;&nbsp;&nbsp;9.92 | (5.30) | &nbsp;&nbsp;156947 | 1.08 | 1.13 | 1.03 | &nbsp;&nbsp;&nbsp;63<sup>(2)</sup> |
| 06/30/23 | &nbsp;&nbsp;&nbsp;9.92 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.74) | &nbsp;&nbsp;10.25 | 11.07 | &nbsp;&nbsp;158698 | 1.08 | 1.12 | 1.34 | &nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;10.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.14<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.56 | &nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;11.71 | 16.71 | &nbsp;&nbsp;163754 | 1.08 | 1.13 | 1.30 | 28 |
| 06/30/25 | &nbsp;&nbsp;11.71 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(0.86) | &nbsp;&nbsp;(1.01) | &nbsp;&nbsp;12.11 | 12.00 | &nbsp;&nbsp;168596 | 1.08 | 1.11 | 1.23 | 40 |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;12.11 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;(1.45) | &nbsp;&nbsp;(1.51) | &nbsp;&nbsp;11.58 | &nbsp;&nbsp;&nbsp;&nbsp;7.98<sup>(6)</sup> | &nbsp;&nbsp;171280 | &nbsp;&nbsp;&nbsp;1.08<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.10<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.97<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;21<sup>(6)</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 06/30/21 | $7.93 | $0.03 | $3.61 | $3.64 | $(0.03) | $(0.16) | $(0.19) | $11.38 | 46.40% | $1943 | 1.83% | 2.46% | 0.33% | 37% |
| 06/30/22 | &nbsp;&nbsp;11.38 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;(0.64) | &nbsp;&nbsp;(0.62) | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;(0.88) | &nbsp;&nbsp;&nbsp;9.88 | (6.11) | &nbsp;&nbsp;&nbsp;&nbsp;5722 | 1.83 | 2.08 | 0.28 | &nbsp;&nbsp;&nbsp;63<sup>(2)</sup> |
| 06/30/23 | &nbsp;&nbsp;&nbsp;9.88 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.66) | &nbsp;&nbsp;10.22 | 10.35 | &nbsp;&nbsp;&nbsp;&nbsp;3721 | 1.83 | 2.05 | 0.59 | &nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;10.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.06<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;11.67 | 15.76 | &nbsp;&nbsp;&nbsp;&nbsp;2919 | 1.83 | 2.16 | 0.55 | 28 |
| 06/30/25 | &nbsp;&nbsp;11.67 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;(0.86) | &nbsp;&nbsp;(0.92) | &nbsp;&nbsp;12.07 | 11.20 | &nbsp;&nbsp;&nbsp;&nbsp;1989 | 1.80 | 2.30 | 0.51 | 40 |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;12.07 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;(1.45) | &nbsp;&nbsp;(1.47) | &nbsp;&nbsp;11.54 | &nbsp;&nbsp;&nbsp;&nbsp;7.64<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1840 | &nbsp;&nbsp;&nbsp;1.77<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;2.67<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.28<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;21<sup>(6)</sup> |
| **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** | **Class Y** |
| 06/30/21 | $7.98 | $0.13 | $3.64 | $3.77 | $(0.13) | $(0.16) | $(0.29) | $11.46 | 47.93% | $100542 | 0.83% | 0.95% | 1.33% | 37% |
| 06/30/22 | &nbsp;&nbsp;11.46 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;(0.64) | &nbsp;&nbsp;(0.50) | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;(0.99) | &nbsp;&nbsp;&nbsp;9.97 | (5.06) | &nbsp;&nbsp;&nbsp;86615 | 0.83 | 0.88 | 1.28 | &nbsp;&nbsp;&nbsp;63<sup>(2)</sup> |
| 06/30/23 | &nbsp;&nbsp;&nbsp;9.97 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.76) | &nbsp;&nbsp;10.31 | 11.39 | &nbsp;&nbsp;&nbsp;85516 | 0.83 | 0.88 | 1.59 | &nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;10.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.17<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;11.77 | 16.90 | &nbsp;&nbsp;&nbsp;96905 | 0.83 | 0.88 | 1.55 | 28 |
| 06/30/25 | &nbsp;&nbsp;11.77 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;&nbsp;1.45 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.86) | &nbsp;&nbsp;(1.04) | &nbsp;&nbsp;12.18 | 12.29 | &nbsp;&nbsp;112416 | 0.83 | 0.86 | 1.48 | 40 |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;12.18 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;(1.45) | &nbsp;&nbsp;(1.53) | &nbsp;&nbsp;11.67 | &nbsp;&nbsp;&nbsp;&nbsp;8.14<sup>(6)</sup> | &nbsp;&nbsp;114383 | &nbsp;&nbsp;&nbsp;0.83<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.87<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.22<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;21<sup>(6)</sup> |
| **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** | **Institutional Class** |
| 06/30/21 | $7.96 | $0.14 | $3.63 | $3.77 | $(0.14) | $(0.16) | $(0.30) | $11.43 | 48.12% | $289120 | 0.68% | 0.88% | 1.48% | 37% |
| 06/30/22 | &nbsp;&nbsp;11.43 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.65) | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;(0.85) | &nbsp;&nbsp;(1.01) | &nbsp;&nbsp;&nbsp;9.93 | (5.02) | &nbsp;&nbsp;252281 | 0.68 | 0.83 | 1.43 | &nbsp;&nbsp;&nbsp;63<sup>(2)</sup> |
| 06/30/23 | &nbsp;&nbsp;&nbsp;9.93 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.78) | &nbsp;&nbsp;10.27 | 11.62 | &nbsp;&nbsp;222825 | 0.68 | 0.80 | 1.74 | &nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;10.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.19<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;11.73 | 17.14 | &nbsp;&nbsp;250463 | 0.68 | 0.81 | 1.70 | 28 |
| 06/30/25 | &nbsp;&nbsp;11.73 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;1.46 | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.86) | &nbsp;&nbsp;(1.06) | &nbsp;&nbsp;12.13 | 12.42 | &nbsp;&nbsp;268725 | 0.68 | 0.80 | 1.63 | 40 |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;12.13 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(1.45) | &nbsp;&nbsp;(1.54) | &nbsp;&nbsp;11.61 | &nbsp;&nbsp;&nbsp;&nbsp;8.25<sup>(6)</sup> | &nbsp;&nbsp;283065 | &nbsp;&nbsp;&nbsp;0.68<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.79<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.37<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;21<sup>(6)</sup> |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 06/30/22<sup>(8)</sup> | $11.91 | $0.11 | $(1.11) | $(1.00) | $(0.13) | $(0.85) | $(0.98) | $9.93 | (9.10)%<sup>(6)</sup> | $395 | 0.63%<sup>(7)</sup> | 8.11%<sup>(7)</sup> | 1.47%<sup>(7)</sup> | 63%<sup>(2)</sup> |
| 06/30/23 | &nbsp;&nbsp;&nbsp;9.93 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.78) | &nbsp;&nbsp;10.27 | 11.64 | &nbsp;&nbsp;&nbsp;25657 | 0.63 | 0.91 | 1.79 | &nbsp;&nbsp;&nbsp;30<sup>(3)</sup> |
| 06/30/24 | &nbsp;&nbsp;10.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.19<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;11.74 | 17.29 | &nbsp;&nbsp;&nbsp;30504 | 0.63 | 0.79 | 1.75 | 28 |
| 06/30/25 | &nbsp;&nbsp;11.74 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;1.46 | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.86) | &nbsp;&nbsp;(1.06) | &nbsp;&nbsp;12.14 | 12.47 | &nbsp;&nbsp;&nbsp;30035 | 0.63 | 0.79 | 1.68 | 40 |
| 12/31/25<sup>(5)</sup> | &nbsp;&nbsp;12.14 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(1.45) | &nbsp;&nbsp;(1.54) | &nbsp;&nbsp;11.62 | &nbsp;&nbsp;&nbsp;&nbsp;8.27<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;17719 | &nbsp;&nbsp;&nbsp;0.63<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.79<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.42<sup>(7)</sup> | 21<sup>(6)</sup> |

---

*<sup>(1)</sup>* *Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower.* 

*<sup>(2)</sup>* *Portfolio turnover excludes the purchases and sales of securities of the AIG Strategic Value Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher.* 

*<sup>(3)</sup>* *Portfolio turnover excludes securities delivered from processing redemptions-in-kind.* 

*<sup>(4)</sup>* *The net investment income (loss) per share was based on average shares outstanding for the period.* 

*<sup>(5)</sup>* *Unaudited.* 

*<sup>(6)</sup>* *Not annualized.* 

*<sup>(7)</sup>* *Annualized.* 

*<sup>(8)</sup>* *Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6.* 

*See accompanying Notes to Financial Statements.*

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements

December 31, 2025 (Unaudited)

1. Organization

The Touchstone Strategic Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust was established as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated November 18, 1982. The Trust consists of fifteen funds, including the following eight funds (individually, a "Fund", and collectively, the "Funds"):

---

| |
|:---|
| Touchstone Balanced Fund ("Balanced Fund") |
| Touchstone Core Municipal Bond Fund ("Core Municipal Bond Fund") |
| Touchstone International Value Fund ("International Value Fund") |
| Touchstone Large Cap Focused Fund ("Large Cap Focused Fund") |
| Touchstone Large Cap Fund ("Large Cap Fund") |
| Touchstone Large Company Growth Fund ("Large Company Growth Fund") |
| Touchstone Small Company Fund ("Small Company Fund") |
| Touchstone Value Fund ("Value Fund") |

---

Each Fund is diversified, with the exception of the Large Cap Focused Fund and the Large Company Growth Fund, which are non-diversified.

The Agreement and Declaration of Trust permits the Trust to issue an unlimited number of shares of beneficial interest of each Fund. The table below indicates the classes of shares that each Fund is registered to offer:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class Y** | &nbsp;&nbsp;**Institutional Class** | &nbsp;&nbsp;**Class R6** |
| Balanced Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  | &nbsp;&nbsp;X |
| Core Municipal Bond Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| International Value Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Large Cap Focused Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |
| Large Cap Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Large Company Growth Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Small Company Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |
| Value Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |

---

The assets of each Fund are segregated, and a shareholder's interest is limited to the Fund in which shares are held. The Funds' prospectus provides a description of each Fund's investment goal, policies, and strategies along with information on the classes of shares currently being offered.

2. Significant Accounting Policies

The following is a summary of the Funds' significant accounting policies:

Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.

**Security valuation and fair value measurements — U.S. generally accepted accounting principles ("U.S. GAAP") defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. All investments in securities are recorded at their fair value. The Funds define the term "market value", as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:**

• Level 1 - quoted prices in active markets for identical securities

• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 - significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The aggregate value by input level, as of December 31, 2025, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Funds did not hold or transfer any Level 3 categorized securities during the six months ended December 31, 2025.

Changes in valuation techniques may result in transfers into or out of an investment's assigned level within the hierarchy.

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange ("NYSE") (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price ("NOCP") or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value ("NAV") as reported by the underlying funds and are categorized in Level 1.

Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities' terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.

Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund's NAV. The Funds may use fair value pricing under the following circumstances, among others:

• If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.

• If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.

• If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.

• If the validity of market quotations is not reliable.

Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures established by Touchstone Advisors, Inc. (the "Adviser") and adopted by the Funds' Board of Trustees (the "Board") and are generally categorized in Level 3.

**Collateralized Loan Obligations — The Balanced Fund may invest in collateralized loan obligations ("CLOs"). CLOs are types of asset-backed securities. A CLO is an entity that is backed by syndicated bank loans. The cash flows of the CLO can be split into multiple segments, called "tranches," which will vary in risk profile and yield. The riskiest segment is the subordinated or "equity" tranche. This tranche bears the greatest risk of defaults from the underlying assets in the CLO and serves to protect the other, more senior, tranches from default in all but the most severe circumstances. Since it is shielded from defaults by the more junior tranches, a "senior" tranche will typically have higher credit ratings and lower yields than their underlying securities, and often receive higher ratings from one or more of the nationally recognized rating agencies. Despite the protection from the more junior tranches, senior tranches can experience substantial losses due to actual defaults, increased sensitivity to future defaults and the disappearance of one or more protecting tranches as a result of changes in the credit profile of the underlying pool of assets.**

**Investment companies — The Funds may invest in securities of other investment companies, including exchange-traded funds ("ETFs"), open-end funds and closed-end funds. Open-end funds are investment companies that issue new shares continuously and redeem shares daily. Closed-end funds are investment companies that typically issue a fixed number of shares that trade on a securities exchange or over-the-counter ("OTC"). An ETF is an investment company whose shares are traded on a securities exchange based on their market value. The risks of investment in other investment companies typically reflect the risks of the types of securities in which the other investment companies invest. Investments in ETFs and closed-end funds are subject to the additional risk that their shares may trade at a premium or discount to their NAV. When a Fund invests in another investment**

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

company, shareholders of the Fund indirectly bear their proportionate share of the other investment company's fees and expenses, including operating, registration, trustee, licensing, and marketing, as well as their share of the Fund's fees and expenses.

**Futures Contracts — The Balanced Fund may buy and sell futures contracts and related options to manage its exposure to changing interest rates and securities prices. Some strategies reduce the Fund's exposure to price fluctuations, while others tend to increase its market exposure. Futures and options on futures can be volatile instruments and involve certain risks that could negatively impact the Fund's return. When the Fund purchases or sells a futures contract, or sells an option thereon, the Fund must deposit initial margin and, in some instances, daily variation margin, to meet its obligations under a contract with a futures commission merchant.**

When the contract is closed, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transactions and the Fund's basis in the contract. Risks of entering into futures contracts include the possibility that a change in the value of the contract may not correlate with the changes in the value of the underlying instruments. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market resulting in an inability to close a futures position prior to its maturity date. Third, the purchase of a futures contract involves the risk that the Fund could lose more than the original margin deposit required to initiate the futures transaction. Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. There is minimal counterparty credit risk involved in entering into futures contracts since they are exchange-traded instruments and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default.

**Swap Contracts — The Balanced Fund may enter into swap transactions to help enhance the value of its portfolio or manage its exposure to different types of investments. Swaps are financial instruments that typically involve the exchange of cash flows between two parties on specified dates (settlement dates), where the cash flows are based on agreed-upon prices, rates, indexes, etc. The nominal amount on which the cash flows are calculated is called the notional amount. Swaps are individually negotiated and structured to include exposure to a variety of different types of investments or market factors, such as interest rates, foreign currency rates, mortgage securities, corporate borrowing rates, security prices, indexes or inflation rates.**

Swap agreements may increase or decrease the overall volatility of the investments of a Fund and its share price. The performance of swap agreements may be affected by a change in the specific interest rate, currency, or other factors that determine the amounts of payments due to and from a Fund. If a swap agreement calls for payments by a Fund, the Fund must be prepared to make such payments when due. In addition, if the counterparty's creditworthiness declines, the value of a swap agreement would be likely to decline, potentially resulting in losses.

Generally, bilateral swap agreements and OTC swaps have a fixed maturity date that will be agreed upon by the parties. The agreement can be terminated before the maturity date only under limited circumstances, such as default by one of the parties or a party's insolvency, and can be transferred by a party only with the prior written consent of the other party. The Fund may be able to eliminate its exposure under a swap agreement either by assignment or by other disposition, or by entering into an offsetting swap agreement with the same party or a similarly creditworthy party. If the counterparty is unable to meet its obligations under the contract, declares bankruptcy, defaults or becomes insolvent, a Fund may not be able to recover the money it expected to receive under the contract.

Cleared swaps are transacted through futures commission merchants that are members of central clearinghouses with the clearinghouses serving as a central counterparty. Pursuant to rules promulgated under the Dodd-Frank Wall Street Reform and Consumer Protection Act, central clearing of swap agreements is currently required for certain market participants trading certain instruments, and central clearing for additional instruments is expected to be implemented by regulators until the majority of the swaps market is ultimately subject to central clearing.

Swaps are marked-to-market daily based upon values received from third party vendors or quotations from market makers. For OTC swaps, any upfront premiums paid or received are recorded as assets or liabilities, respectively, and are shown as premium paid on swap agreements or premium received on swap agreements in the Statements of Assets and Liabilities. For swaps that are centrally cleared, initial margins, determined by each relevant clearing agency or clearing member, are posted at a clearing broker in accordance with CFTC or the applicable regulator's regulations. The change in value of swaps, including accruals of periodic amounts of interest to be paid or received on swaps, is recorded as unrealized appreciation or depreciation. Daily changes in the value of centrally cleared swaps are recorded in the Statements of Assets and Liabilities as receivable or payable for variation margin on swap agreements and settled daily. Upfront premiums and liquidation payments received or paid are recorded as realized gains or losses at the termination or maturity of the swap. Net periodic payments received or paid by the Fund are recorded as realized gain or loss.

A swap agreement can be a form of leverage, which can magnify a Fund's gains or losses. In order to reduce the risk associated with leveraging, the Fund will only enter into a swap agreement subject to the regulatory limitations set forth in Rule 18f-4 under the 1940 Act (the "Derivatives Rule").

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

#### Foreign currency translation — The books and records of the Funds are maintained in U.S. dollars and translated into U.S. dollars on the following basis:
(1) market value of investment securities, assets and liabilities at the current rate of exchange on the valuation date; and

(2) purchases and sales of investment securities, income, and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of gains and losses on investments in equity securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities.

**Real Estate Investment Trusts — The Funds may invest in real estate investment trusts ("REITs") that involve risks not associated with investing in stocks. Risks associated with investments in REITs include declines in the value of real estate, general and economic conditions, changes in the value of the underlying property and defaults by borrowers. The value of assets in the real estate industry may go through cycles of relative underperformance and outperformance in comparison to equity securities markets in general. Dividend income is recorded using management's estimate of the income included in distributions received from REIT investments. The actual amounts of income, return of capital and capital gains are only determined by each REIT after its fiscal year-end and may differ from the estimated amount. Estimates of income are adjusted in the Funds to the actual amounts when the amounts are determined.**

**Derivative instruments and hedging activities — The Balanced Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement" or "MNA") or similar agreement with certain counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs OTC derivatives and foreign exchange contracts, and typically contains, among other things, collateral posting terms and master netting provisions in the event of a default or termination. Under an ISDA Master Agreement, a party may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables or receivables with collateral held or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default (close-out netting). These default events include bankruptcy or insolvency of the counterparty. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset.**

When entering into a derivative transaction, a Fund may be required to post and maintain collateral or margin (including both initial and variation margin). Collateral and margin requirements differ by type of derivative. Margin requirements are established by the broker or clearing house for exchange-traded and centrally cleared derivatives (financial futures contracts, options, and centrally cleared swaps). Brokers can ask for margining in excess of the clearing house's minimum in certain circumstances. Collateral terms are contract specific for OTC derivatives (forward foreign currency contracts, options, and swaps). For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the marked-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Fund and the counterparty. For financial reporting purposes, cash collateral that has been pledged to cover obligations of the Fund and cash collateral received from the counterparty, if any, are reported separately on the Statements of Assets and Liabilities as cash deposits held at prime broker and due to prime broker, respectively. Non-cash collateral pledged by the Fund, if any, is noted in the Portfolio of Investments. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty non-performance.

Certain ISDA Master Agreements allow counterparties to OTC derivatives transactions to terminate derivative contracts prior to maturity in the event a Fund's net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreement, which would cause the Fund (counterparty) to accelerate payment of any net liability owed to the counterparty (Fund).

For financial reporting purposes, the Balanced Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities.

As of December 31, 2025, the Balanced Fund did not hold any assets and liabilities that were subject to a MNA.

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

The following table sets forth the effect of the Balanced Fund's derivative financial instruments by primary risk exposure on the Statements of Operations for the six months ended December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Realized Gains<br> (Losses)<br> on Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)<br> on Derivatives** |
| Balanced Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures - Interest Rate Contracts<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$254080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$76392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap Agreements - Credit Contracts<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

*(1)* *Statements of Operations Location: Net realized gains on futures contracts and Net change in unrealized appreciation (depreciation) on futures contracts, respectively.* 

*(2)* *Statements of Operations Location: Net realized gains on swap agreements.* 

For the six months ended December 31, 2025, the average quarterly notional value of outstanding derivative financial instruments was as follows:

---

| | |
|:---|:---|
|  | **Balanced Fund** |
| **Interest Rate Contracts:** |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (long) - Notional Value | $79686261 |
| &nbsp;&nbsp;&nbsp;Futures Contracts (short) - Notional Value | &nbsp;&nbsp;&nbsp;13298735 |

---

**Portfolio securities loaned — The Funds may lend their portfolio securities. Lending portfolio securities exposes the Funds to the risk that the borrower may fail to return the loaned securities or may not be able to provide additional collateral or that the Funds may experience delays in recovery of the loaned securities or loss of rights in the collateral if the borrower fails financially. To minimize these risks, the borrower must agree to maintain cash collateral with the Funds' custodian. The loaned securities are secured by collateral valued at least equal, at all times, to the market value of the loaned securities plus accrued interest, if any. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the security lending agreement. The cash collateral is reinvested by the Funds' custodian into an approved short-term investment vehicle. The approved short-term investment vehicle is subject to market risk.**

As of December 31, 2025, the following Funds loaned securities and received collateral as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Security Type** | &nbsp;&nbsp;**Market Value of<br> Securities Loaned<sup>(1)</sup>** | &nbsp;&nbsp;**Market Value of<br> Collateral Received<sup>(2)</sup>** | &nbsp;&nbsp;**Net<br> Amount<sup>(3)</sup>** |
| Balanced Fund | Corporate Bonds | &nbsp;&nbsp;$310597 | &nbsp;&nbsp;$7548137 | &nbsp;&nbsp;$7237540 |
| International Value Fund | Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26485 |
| Small Company Fund | Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;1041734 | &nbsp;&nbsp;&nbsp;&nbsp;1076387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34653 |

---

*(1)* *The remaining contractual maturity is overnight for all securities.* 

*(2)* *Gross amount of recognized liabilities for securities lending included in the Statements of Assets and Liabilities.* 

*(3)* *Net amount represents the net amount payable due to (received from) the borrower in the event of default.* 

All cash collateral is received, held, and administered by the Funds' custodian for the benefit of the lending Fund in its custody account or other account established for the purpose of holding collateral in cash equivalents.

Funds participating in securities lending receive compensation in the form of fees. Securities lending income is derived from lending long securities from the Funds to creditworthy approved borrowers at rates that are determined based on daily trading volumes, float, short-term interest rates and market liquidity and is shown net of fees on the Statements of Operations. When a Fund lends securities, it retains the interest or dividends on the investment of any cash received as collateral, and the Fund continues to receive interest or dividends on the loaned securities.

Unrealized gain or loss on the market value of the loaned securities that may occur during the term of the loan is recognized by the Fund. The Fund has the right under the lending agreement to recover any loaned securities from the borrower on demand.

**When-issued or delayed delivery transactions — Each Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining NAV. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security. When-issued or delayed delivery transactions physically settling within 35-days are deemed not to involve a senior security. When-**

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[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

issued or delayed delivery transactions that do not physically settle within 35-days are required to be treated as derivatives transactions in compliance with the Derivatives Rule.&nbsp;&nbsp;&nbsp;&nbsp;

**Share valuation — The NAV per share of each class of shares of each Fund is calculated daily by dividing the total value of a Fund's assets attributable to that class, less liabilities attributable to that class, by the number of outstanding shares of that class.**

The maximum offering price per share of Class A shares of the equity funds (all of the Funds except the Core Municipal Bond Fund) is equal to the NAV per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). The maximum offering price per share of Class A shares of the Core Municipal Bond Fund is equal to the NAV per share plus a sales load equal to 3.36% of the NAV (or 3.25% of the offering price). There is no sales load on equity or fixed income fund purchases when aggregate purchases in all Touchstone funds equal at least $1 million or $500,000, respectively. The maximum offering price per share of Classes C, Y, Institutional Class and R6 shares of the Funds is equal to the NAV per share.

The redemption price per share of each class of shares of the Funds is generally equal to the NAV per share. However, Class A redemptions that were part of a no-load purchase due to the aggregate purchase amount in all Touchstone Funds equaling at least $1 million for equity funds or $500,000 for fixed income funds where a Finder's Fee was paid may be subject to a contingent deferred sales charge ("CDSC") of up to 1.00% or 0.50% for equity or fixed income funds, respectively, if redeemed within a one-year period from the date of purchase. Additionally, purchases of Class C shares of the Funds are subject to a CDSC of 1.00% if redeemed within a one-year period from the date of purchase. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed.

**Investment income — Dividend income from securities is recognized on the ex-dividend date, net of foreign withholding taxes, if any, which are reduced by any amounts reclaimable by the Funds, where applicable. Interest income from securities is recorded on the basis of interest accrued, premium amortized and discount accreted. Realized gains and losses resulting from principal pay downs on mortgage-backed and asset-backed securities are included in interest income. Market discounts, original issue discounts and market premiums on debt securities are accreted/amortized to interest income over the life of the security or to the appropriate call date, as applicable, with a corresponding adjustment in the cost basis of that security. In addition, it is the Funds' policy to accrue for foreign capital gains taxes, if applicable, on certain foreign securities held by the Funds. An estimated foreign capital gains tax is recorded daily on net unrealized gains on these securities and is payable upon the sale of such securities when a gain is realized.**

**Distributions to shareholders — Each Fund intends to distribute to its shareholders substantially all of its income and capital gains. Each Fund, except the Balanced Fund, the Core Municipal Bond Fund and the Value Fund, declares and distributes net investment income, if any, annually, as a dividend to shareholders. The Balanced Fund and Value Fund declare and distribute net investment income, if any, quarterly, as a dividend to shareholders. The Core Municipal Bond Fund declares distributions from net investment income on a daily basis and distributes as a dividend to shareholders on a monthly basis. Each Fund makes distributions of capital gains, if any, at least annually, net of applicable capital loss carryforwards. Income distributions and capital gain distributions are determined in accordance with income tax regulations. Recognition of the Funds' net investment income from investments in underlying funds is affected by the timing of dividend declarations by the underlying funds.**

**Allocations — Investment income earned, realized capital gains and losses, and unrealized appreciation and depreciation for a Fund are allocated daily to each class of shares based upon its proportionate share of total net assets of the Fund. Class-specific expenses are charged directly to the class incurring the expense. Common expenses, which are not attributable to a specific class, are allocated daily to each class of shares based upon their proportionate share of total net assets of the Fund. Expenses not directly billed to a Fund are allocated proportionally among all Funds in the Trust, and, if applicable, Touchstone ETF Trust, Touchstone Funds Group Trust and Touchstone Variable Series Trust (collectively with the Trust, "Touchstone Fund Complex"), daily in relation to net assets of each Fund or another reasonable measure.**

**Security transactions — Security transactions are reflected for financial reporting purposes as of the trade date. Realized gains and losses on sales of portfolio securities are calculated using the identified cost basis.**

**Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.**

**Operating Segments — In this reporting period, the Funds adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. Each Fund represents a single operating segment. The management team of the Adviser,**

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Notes to Financial Statements (Unaudited) (Continued)

acts as the Funds' CODM. The CODM monitors the operating results of the Funds as a whole and also monitors each Fund's asset allocation for adherence to its principal investment strategies as disclosed in its prospectus. The financial information, including the Funds' portfolio of investments, total returns, expense ratios and changes in net assets, are used by the CODM to assess the segment's performance versus the Funds' benchmarks and to make resource allocation decisions for the Funds' single segment and is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying statements of assets and liabilities and segment expenses are listed on the accompanying statements of operations. The accounting policies of the segment are the same as those described in the summary of significant accounting policies.

**Recent Accounting Pronouncements — In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740); Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation, disaggregation of income taxes paid, and other income tax-related disclosures. The ASU is effective for annual periods beginning after December 15, 2024. Management is currently evaluating the impact of applying the ASU to the Funds' financial statements.**

3. Investment Transactions

Investment transactions (excluding short-term investments and U.S. Government securities) were as follows for the six months ended December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Balanced<br> Fund** | &nbsp;&nbsp;**Core<br> Municipal<br> Bond<br> Fund** | &nbsp;&nbsp;**International<br> Value<br> Fund** | &nbsp;&nbsp;**Large Cap<br> Focused<br> Fund<sup>(1)</sup>** |
| Purchases of investment securities | $57363642 | &nbsp;&nbsp;$8480683 | &nbsp;&nbsp;$30049436 | &nbsp;&nbsp;$108859746 |
| Proceeds from sales and maturities | $84115490 | &nbsp;&nbsp;$8314624 | &nbsp;&nbsp;$21678238 | &nbsp;&nbsp;$115015475 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Large Cap<br> Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Large<br> Company<br> Growth<br> Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Small<br> Company<br> Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Value<br> Fund** |
| Purchases of investment securities | $18017531 | &nbsp;&nbsp;$35027665 | &nbsp;&nbsp;$562672736 | &nbsp;&nbsp;$120881616 |
| Proceeds from sales and maturities | $15280553 | &nbsp;&nbsp;$37424345 | &nbsp;&nbsp;$405966739 | &nbsp;&nbsp;$162906929 |

---

*(1)* *The Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund and the Small Company Fund had redemption-in-kinds out of the Fund of $113,199,265, $6,870,321, $8,715,783 and $4,171,545, respectively, which are excluded from the proceeds from sales and maturities.* 

For the six months ended December 31, 2025, purchases and proceeds from sales and maturities in U.S. Government Securities were $310,278,370 and $308,815,076, respectively, for the Balanced Fund. There were no purchases or proceeds from sales and maturities of U.S. Government securities by the other Funds for the six months ended December 31, 2025.

4. Transactions with Affiliates and Other Related Parties

Certain officers of the Trust are also officers of the Adviser, Touchstone Securities, Inc. (the "Distributor"), or The Bank of New York Mellon ("BNY Mellon"), the sub-administrator to the Funds. Such officers receive no compensation from the Trust. The Adviser and the Distributor are each wholly-owned subsidiaries of Western & Southern Financial Group, Inc. ("Western & Southern").

On behalf of the Funds, the Adviser pays each Independent Trustee a quarterly retainer plus additional retainers to the Lead Independent Trustee and the chairs of each standing committee. Interested Trustees do not receive compensation from the Funds. Each Independent Trustee also receives compensation for each Board meeting and committee meeting attended. Each standing committee chair receives additional compensation for each committee meeting that he or she oversees. The Adviser is reimbursed by the Funds for the Independent Trustees' compensation and out-of-pocket expenses relating to their services. The Funds accrued Trustee-related expenses of $126,536 for the Funds' Board for the six months ended December 31, 2025.

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Notes to Financial Statements (Unaudited) (Continued)

#### MANAGEMENT & EXPENSE LIMITATION AGREEMENTS
The Adviser provides general investment supervisory services for the Funds, under the terms of an advisory agreement (the "Advisory Agreement"). Under the Advisory Agreement, each Fund pays the Adviser a fee, which is computed and accrued daily and paid monthly, at an annual rate based on average daily net assets of each Fund as shown in the table below.

---

| | |
|:---|:---|
| Balanced Fund | &nbsp;&nbsp;0.55% on the first $200 million<br> 0.50% on the next $200 million<br> 0.45% on the next $600 million<br> 0.40% on the next $1 billion<br> 0.35% on assets in excess of $2 billion |
| Core Municipal Bond Fund | &nbsp;&nbsp;0.40% on the first $300 million<br> 0.30% on assets in excess of $300 million |
| International Value Fund | &nbsp;&nbsp;0.70% on the first $500 million<br> 0.65% on the next $300 million<br> 0.60% on the next $200 million<br> 0.50% on the next $1 billion<br> 0.40% on assets in excess of $2 billion |
| Large Cap Focused Fund | &nbsp;&nbsp;0.70% on the first $500 million<br> 0.65% on the next $300 million<br> 0.60% on the next $200 million<br> 0.50% on the next $1 billion<br> 0.40% on assets in excess of $2 billion |
| Large Cap Fund | &nbsp;&nbsp;0.60% on the first $500 million<br> 0.54% on the next $500 million<br> 0.50% on assets in excess of $1 billion |
| Large Company Growth Fund | &nbsp;&nbsp;0.60% on all assets |
| Small Company Fund | &nbsp;&nbsp;0.70% on the first $500 million<br> 0.65% on the next $300 million<br> 0.60% on the next $200 million<br> 0.50% on the next $1 billion<br> 0.40% on assets in excess of $2 billion |
| Value Fund | &nbsp;&nbsp;0.65% on the first $200 million<br> 0.55% on assets in excess of $200 million |

---

The Adviser has entered into investment sub-advisory agreements with the following parties (each, a "Sub-Adviser"):

---

| | |
|:---|:---|
| **Barrow, Hanley, Mewhinney & Strauss, LLC d/b/a** | &nbsp;&nbsp;**London Company of Virginia d/b/a The London Company** |
| **Barrow Hanley Global Investors** | &nbsp;&nbsp;Large Cap Fund |
| Value Fund | &nbsp;&nbsp;**Fort Washington Investment Advisors, Inc.\*** |
| **DSM Capital Partners LLC** | &nbsp;&nbsp;Balanced Fund |
| Large Company Growth Fund | &nbsp;&nbsp;Large Cap Focused Fund |
| **Sage Advisory Services, Ltd Co.** | &nbsp;&nbsp;Small Company Fund |
| Core Municipal Bond Fund |  |
| **LSV Asset Management** |  |
| International Value Fund |  |

---

*\* Affiliate of the Adviser and wholly-owned subsidiary of Western & Southern.*

The Adviser pays sub-advisory fees to each Sub-Adviser from its advisory fee.

The Adviser entered into an expense limitation agreement (the "Expense Limitation Agreement") to contractually limit the annual operating expenses of the Funds, excluding: dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transaction and investment related expenses, including expenses associated with the Funds' liquidity providers; other expenditures which are capitalized in accordance with U.S. GAAP; the cost of "Acquired Fund Fees and Expenses", if any; and other extraordinary expenses not incurred in the ordinary course of business. The maximum annual operating expense limit in any year with respect to the Funds is based on a percentage of the average daily net assets of the Funds.

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Notes to Financial Statements (Unaudited) (Continued)

The Adviser has agreed to waive a portion of its fees, and to reimburse certain fund expenses in order to maintain the following expense limitations for the Funds:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class Y** | &nbsp;&nbsp;**Institutional<br> Class** | &nbsp;&nbsp;**Class R6** | &nbsp;&nbsp;**Termination Date** |
| Balanced Fund | &nbsp;&nbsp;1.01% | &nbsp;&nbsp;1.78% | &nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;0.63% | &nbsp;&nbsp;October 29, 2026 |
| Core Municipal Bond Fund<sup>(1)</sup> | &nbsp;&nbsp;0.80% | &nbsp;&nbsp;1.49% | &nbsp;&nbsp;0.55% | &nbsp;&nbsp;0.48% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;October 29, 2026 |
| International Value Fund | &nbsp;&nbsp;1.26% | &nbsp;&nbsp;1.85% | &nbsp;&nbsp;0.89% | &nbsp;&nbsp;0.77% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;October 29, 2026 |
| Large Cap Focused Fund | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.79% | &nbsp;&nbsp;0.72% | &nbsp;&nbsp;0.69% | &nbsp;&nbsp;0.65% | &nbsp;&nbsp;October 29, 2026 |
| Large Cap Fund<sup>(2)</sup> | &nbsp;&nbsp;1.03% | &nbsp;&nbsp;1.74% | &nbsp;&nbsp;0.78% | &nbsp;&nbsp;0.68% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;October 29, 2026 |
| Large Company Growth Fund | &nbsp;&nbsp;1.04% | &nbsp;&nbsp;1.79% | &nbsp;&nbsp;0.79% | &nbsp;&nbsp;0.69% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;October 29, 2026 |
| Small Company Fund | &nbsp;&nbsp;1.22% | &nbsp;&nbsp;1.95% | &nbsp;&nbsp;0.89% | &nbsp;&nbsp;0.79% | &nbsp;&nbsp;0.79% | &nbsp;&nbsp;October 29, 2026 |
| Value Fund<sup>(3)</sup> | &nbsp;&nbsp;1.08% | &nbsp;&nbsp;1.75% | &nbsp;&nbsp;0.83% | &nbsp;&nbsp;0.68% | &nbsp;&nbsp;0.63% | &nbsp;&nbsp;October 29, 2026 |

---

*(1)* *Prior to October 29, 2025, the expense limitation for Class C was 1.50%.* 

*(2)* *Prior to October 29, 2025, the expense limitation for Class C was 1.78%.* 

*(3)* *Prior to October 29, 2025, the expense limitation for Class C was 1.78%.* 

The Expense Limitation Agreement can be terminated, with respect to each Fund, by a vote of the Funds' Board if it deems the termination to be beneficial to the Funds' shareholders.

During the six months ended December 31, 2025, the Adviser or its affiliates waived investment advisory fees, administration fees or other operating expenses, including distribution fees of the Funds, as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**Investment<br> Advisory<br> Fees Waived** | &nbsp;&nbsp;**Administration<br> Fees Waived** | &nbsp;&nbsp;**Other Operating<br> Expenses<br> Reimbursed/<br> Waived** | &nbsp;&nbsp;**Total** |
| Balanced Fund | &nbsp;&nbsp;$— | &nbsp;&nbsp;$479 | &nbsp;&nbsp;$5612 | &nbsp;&nbsp;$6091 |
| Core Municipal Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14138 | &nbsp;&nbsp;&nbsp;&nbsp;74640 | &nbsp;&nbsp;&nbsp;&nbsp;88778 |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22305 | &nbsp;&nbsp;&nbsp;&nbsp;122231 | &nbsp;&nbsp;&nbsp;&nbsp;144536 |
| Large Cap Focused Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;120683 | &nbsp;&nbsp;&nbsp;&nbsp;121117 |
| Large Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;41553 | &nbsp;&nbsp;&nbsp;&nbsp;127247 | &nbsp;&nbsp;&nbsp;&nbsp;168800 |
| Large Company Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;76815 | &nbsp;&nbsp;&nbsp;&nbsp;67191 | &nbsp;&nbsp;&nbsp;&nbsp;144006 |
| Small Company Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;26115 | &nbsp;&nbsp;&nbsp;&nbsp;26115 |
| Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;114801 | &nbsp;&nbsp;&nbsp;&nbsp;121322 | &nbsp;&nbsp;&nbsp;&nbsp;236123 |

---

Under the terms of the Expense Limitation Agreement, the Adviser is entitled to recover, subject to approval by the Funds' Board, such amounts waived or reimbursed for a period of up to three years from the date on which the Adviser reduced its compensation or assumed expenses for the Funds. A Fund will make repayments to the Adviser only if such repayment does not cause the Fund's operating expenses (after the repayment is taken into account) to exceed the Fund's expense limit in place when such amounts were waived or reimbursed by the Adviser and the Fund's current expense limitation.

As of December 31, 2025, the Adviser may seek recoupment of previously waived fees and reimbursed expenses as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Expires on<br> or before<br> June 30, 2026** | **Expires on<br> or before<br> June 30, 2027** | **Expires on<br> or before<br> June 30, 2028** | **Expires on<br> or before<br> June 30, 2029** | **Total** |
| Balanced Fund | $3596 | $6420 | $8325 | $6091 | $24432 |
| Core Municipal Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;44945 | &nbsp;&nbsp;&nbsp;106066 | &nbsp;&nbsp;&nbsp;112188 | &nbsp;&nbsp;&nbsp;&nbsp;59645 | &nbsp;&nbsp;&nbsp;&nbsp;322844 |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;28715 | &nbsp;&nbsp;&nbsp;&nbsp;87423 | &nbsp;&nbsp;&nbsp;117359 | &nbsp;&nbsp;&nbsp;&nbsp;62339 | &nbsp;&nbsp;&nbsp;&nbsp;295836 |
| Large Cap Focused Fund | &nbsp;&nbsp;&nbsp;261683 | &nbsp;&nbsp;&nbsp;534098 | &nbsp;&nbsp;&nbsp;366298 | &nbsp;&nbsp;&nbsp;119586 | &nbsp;&nbsp;&nbsp;1281665 |
| Large Cap Fund | &nbsp;&nbsp;&nbsp;116011 | &nbsp;&nbsp;&nbsp;305525 | &nbsp;&nbsp;&nbsp;310465 | &nbsp;&nbsp;&nbsp;155799 | &nbsp;&nbsp;&nbsp;&nbsp;887800 |
| Large Company Growth Fund | &nbsp;&nbsp;&nbsp;121872 | &nbsp;&nbsp;&nbsp;246627 | &nbsp;&nbsp;&nbsp;247194 | &nbsp;&nbsp;&nbsp;134247 | &nbsp;&nbsp;&nbsp;&nbsp;749940 |
| Small Company Fund | &nbsp;&nbsp;&nbsp;152616 | &nbsp;&nbsp;&nbsp;292662 | &nbsp;&nbsp;&nbsp;224369 | &nbsp;&nbsp;&nbsp;&nbsp;21008 | &nbsp;&nbsp;&nbsp;&nbsp;690655 |
| Value Fund | &nbsp;&nbsp;&nbsp;184700 | &nbsp;&nbsp;&nbsp;390592 | &nbsp;&nbsp;&nbsp;394789 | &nbsp;&nbsp;&nbsp;212260 | &nbsp;&nbsp;&nbsp;1182341 |

---

For the six months ended December 31, 2025, the Adviser is eligible to recoup previously waived fees or reimbursed expenses from Small Company Fund of $31,313.

#### ADMINISTRATION AGREEMENT
The Adviser entered into an Administration Agreement with the Trust, whereby the Adviser is responsible for: supplying executive and regulatory compliance services; supervising the preparation of tax returns; coordinating the preparation of reports to

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Notes to Financial Statements (Unaudited) (Continued)

shareholders and reports to and filings with the Securities and Exchange Commission ("SEC") and state securities authorities, as well as materials for meetings of the Board; calculating the daily NAV per share; and maintaining the financial books and records of each Fund.

For its services, the Adviser's annual administrative fee is:

0.145% on the first $20 billion of the aggregate average daily net assets;

0.11% on the next $10 billion of aggregate average daily net assets;

0.09% on the next $10 billion of aggregate average daily net assets; and

0.07% on the aggregate average daily net assets over $40 billion.

The fee is computed and allocated among the Touchstone Fund Complex on the basis of relative daily net assets.

The Adviser has engaged BNY Mellon as the sub-administrator to the Trust. BNY Mellon provides administrative and accounting services to the Trust and is compensated directly by the Adviser, not the Trust.

#### TRANSFER AGENT AGREEMENT
Under the terms of the Transfer Agent Agreement between the Trust and BNY Mellon Investment Servicing (U.S.) Inc. ("Transfer Agent"), the Transfer Agent to the Funds maintains the records of each shareholder's account, answers shareholders' inquiries concerning their accounts, processes purchases and redemptions of each Fund's shares, acts as dividend and distribution disbursing agent, and performs other shareholder service functions. For these services, the Transfer Agent receives a monthly fee from each Fund. In addition, each Fund pays out-of-pocket expenses incurred by the Transfer Agent, including, but not limited to, postage and supplies.

The Funds may reimburse the Adviser for fees paid to intermediaries such as banks, broker-dealers, financial advisers or other financial institutions for sub-transfer agency, sub-administration and other services provided to investors whose shares of record are held in omnibus, other group accounts, retirement plans or accounts traded through registered securities clearing agents. These fees, which are included in Transfer Agent fees in the Statements of Operations, may vary based on, for example, the nature of services provided, but generally range up to 0.15% of the assets of the class serviced or maintained by the intermediary or up to $22 per sub-account maintained by the intermediary.

#### PLANS OF DISTRIBUTION AND SHAREHOLDER SERVICING FEE ARRANGEMENTS
The Trust has adopted distribution plans pursuant to Rule 12b-1 under the 1940 Act for each class of shares it offers that is subject to 12b-1 distribution fees. The plans allow each Fund to pay distribution and other fees for the sale and distribution of its shares and for services provided to shareholders. The fees charged to the Funds are limited to the actual expenses incurred. Under the Class A plan, each Fund offering Class A shares pays an annual fee not to exceed 0.25% of average daily net assets that are attributable to Class A shares. Under the Class C plan, each Fund offering Class C shares pays an annual fee not to exceed 1.00% of average daily net assets that are attributable to Class C shares (of which up to 0.75% is a distribution fee and up to 0.25% is a shareholder servicing fee).

#### DISTRIBUTION AGREEMENT
The Distributor is the Funds' principal underwriter and, as such, acts as exclusive agent for distribution of the Funds' shares. Under the terms of the Distribution Agreement between the Trust and the Distributor, the Distributor earned underwriting and broker commissions on the sale of Class A shares of the Funds. W&S Brokerage Services, Inc., an affiliate of the Distributor and the Adviser, also earned broker commissions on the sale of Class A shares of the Funds. Listed below are the total underwriting and broker commissions earned by the Distributor and its affiliate during the six months ended December 31, 2025:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| Balanced Fund | $25543 |
| Core Municipal Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;2622 |
| Large Cap Focused Fund | &nbsp;&nbsp;&nbsp;16854 |
| Large Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 |
| Large Company Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;1714 |
| Small Company Fund | &nbsp;&nbsp;&nbsp;10195 |
| Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;1297 |

---

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Notes to Financial Statements (Unaudited) (Continued)

In addition, the Distributor collected CDSC on the redemption of Class A shares and Class C shares of the Funds listed below during the six months ended December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Fund** | **Class A** | &nbsp;&nbsp;&nbsp;**Class C** |
| Balanced Fund | $— | &nbsp;&nbsp;&nbsp;$951 |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Large Cap Focused Fund | &nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;551 |
| Small Company Fund | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;495 |
| Value Fund | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 |

---

#### INTERFUND TRANSACTIONS
Pursuant to Rule 17a-7 under the 1940 Act, the Funds may engage in purchase and sale transactions with funds that have a common investment adviser (or affiliated investment advisers), common Trustees and/or common Officers. During the six months ended December 31, 2025, the Funds did not engage in any Rule 17a-7 transactions.

5. Liquidity

**ReFlow Fund LLC — The Funds may participate in the ReFlow Fund LLC liquidity program ("ReFlow"), which is designed to provide an alternative liquidity source for funds experiencing redemptions. In order to pay cash to shareholders who redeem their shares on a given day, a fund typically must hold cash in its portfolio, liquidate portfolio securities, or borrow money. ReFlow provides participating funds with another source of cash by standing ready to purchase shares from a fund up to the amount of the fund's net redemptions on a given day, cumulatively limited to 3% of the outstanding voting shares of a Fund. ReFlow then generally redeems those shares (in cash or in-kind) when the Fund experiences net sales, at the end of a maximum holding period determined by ReFlow, or at other times at ReFlow's discretion. In return for this service, the Fund will pay a fee to ReFlow at a rate determined by a daily auction with other participating mutual funds.**

During the six months ended December 31, 2025, the following Funds utilized ReFlow. The shares ReFlow subscribed to and redemptions-in-kind were as follows:

---

| | | |
|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**Shares ReFlow<br> Subscribed to** | &nbsp;&nbsp;**Redemptions-in-kind** |
| Large Cap Focused Fund | &nbsp;&nbsp;1638415 | &nbsp;&nbsp;$113199265 |
| Large Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp;377224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6870321 |
| Large Company Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;147933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8715783 |
| Small Company Fund | &nbsp;&nbsp;2577399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171545 |

---

**Interfund Lending —Pursuant to an Exemptive Order issued by the SEC on March 28, 2017, the Funds, along with certain other funds in the Touchstone Fund Complex, may participate in an interfund lending program. The interfund lending program provides an alternate credit facility that allows the Funds to lend to or borrow from other participating funds in the Touchstone Fund Complex, subject to the conditions of the Exemptive Order. The Funds may not borrow under the facility for leverage purposes and the loans' duration may be no more than 7 days.**

During the six months ended December 31, 2025, the following Fund participated as a lender in the interfund lending program. The daily average amount loaned, weighted average interest rate and interest income were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**Daily Average<br> Amount Loaned** | &nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;**Interest<br> Income<sup>(1)</sup>** |
| Small Company Fund | &nbsp;&nbsp;$16611 | &nbsp;&nbsp;4.89% | &nbsp;&nbsp;$413 |

---

*(1)* *Included in Interest in the Statements of Operations.* 

During the six months ended December 31, 2025, the following Fund participated as a borrower in the interfund lending program. The daily average amount borrowed, weighted average interest rate and interest expense were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**Daily Average<br> Amount Borrowed** | &nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;**Interest<br> Expense<sup>(1)</sup>** |
| Large Company Growth Fund | &nbsp;&nbsp;$25979 | &nbsp;&nbsp;4.25% | &nbsp;&nbsp;$561 |

---

*(1)* *Included in Other expenses in the Statements of Operations.* 

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

6. Federal Tax Information

**Federal Income Tax — It is each Fund's policy to continue to comply with the special provisions of the Internal Revenue Code applicable to regulated investment companies. As provided therein, in any fiscal year in which a Fund so qualifies and distributes at least 90% of its investment company taxable income, the Fund (but not the shareholders) will be relieved of federal income tax on the income distributed. It is each Fund's policy to distribute all of its taxable and tax-exempt income and accordingly, no provision for income taxes has been made.**

In order to avoid imposition of the excise tax applicable to regulated investment companies, it is also each Fund's intention to declare and pay as dividends in each calendar year at least 98% of its investment company taxable income (earned during the calendar year) and 98.2% of its net realized capital gains (earned during the twelve months ending October 31) plus undistributed amounts from prior years.

The tax character of distributions paid for the years ended June 30, 2025 and June 30, 2024 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Balanced Fund** | **Balanced Fund** | &nbsp;&nbsp;&nbsp;**Core Municipal Bond Fund** | &nbsp;&nbsp;&nbsp;**Core Municipal Bond Fund** | &nbsp;&nbsp;&nbsp;**International Value Fund** | &nbsp;&nbsp;&nbsp;**International Value Fund** |
|  | **Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** |
| From ordinary income | $13725321 | &nbsp;&nbsp;&nbsp;$12011292 | &nbsp;&nbsp;&nbsp;$47310 | &nbsp;&nbsp;&nbsp;$56917 | &nbsp;&nbsp;&nbsp;$4140141 | &nbsp;&nbsp;&nbsp;$1681923 |
| From tax-exempt income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1368925 | &nbsp;&nbsp;&nbsp;&nbsp;1426370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| From long-term capital gains | &nbsp;&nbsp;&nbsp;&nbsp;4485908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5498005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions | $18211229 | &nbsp;&nbsp;&nbsp;$12011292 | &nbsp;&nbsp;&nbsp;$1416235 | &nbsp;&nbsp;&nbsp;$1483287 | &nbsp;&nbsp;&nbsp;$9638146 | &nbsp;&nbsp;&nbsp;$1681923 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Large Cap Focused Fund** | **Large Cap Focused Fund** | &nbsp;&nbsp;&nbsp;**Large Cap Fund** | &nbsp;&nbsp;&nbsp;**Large Cap Fund** | &nbsp;&nbsp;&nbsp;**Large Company Growth Fund** | &nbsp;&nbsp;&nbsp;**Large Company Growth Fund** |
|  | **Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** |
| From ordinary income | $12007747 | &nbsp;&nbsp;&nbsp;$20228585 | &nbsp;&nbsp;&nbsp;$2606753 | &nbsp;&nbsp;&nbsp;$3999402 | &nbsp;&nbsp;&nbsp;$427248 | &nbsp;&nbsp;&nbsp;$— |
| From long-term capital gains | &nbsp;&nbsp;&nbsp;13864082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7962671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987379 | &nbsp;&nbsp;&nbsp;&nbsp;3762245 | &nbsp;&nbsp;&nbsp;&nbsp;5206543 |
| Total distributions | $25871829 | &nbsp;&nbsp;&nbsp;$22862368 | &nbsp;&nbsp;&nbsp;$10569424 | &nbsp;&nbsp;&nbsp;$4986781 | &nbsp;&nbsp;&nbsp;$4189493 | &nbsp;&nbsp;&nbsp;$5206543 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Small Company Fund** | **Small Company Fund** | &nbsp;&nbsp;&nbsp;**Value Fund** | &nbsp;&nbsp;&nbsp;**Value Fund** |
|  | **Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> June 30,<br> 2024** |
| From ordinary income | $16851559 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$9000068 | &nbsp;&nbsp;&nbsp;$7919186 |
| From long-term capital gains | &nbsp;&nbsp;&nbsp;47795643 | &nbsp;&nbsp;&nbsp;&nbsp;1430467 | &nbsp;&nbsp;&nbsp;&nbsp;38563992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210139 |
| Total distributions | $64647202 | &nbsp;&nbsp;&nbsp;$1430467 | &nbsp;&nbsp;&nbsp;$47564060 | &nbsp;&nbsp;&nbsp;$12129325 |

---

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

The following information is computed on a tax basis for each item as of June 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Balanced<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Core<br> Municipal<br> Bond<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**International<br> Value<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Large Cap<br> Focused<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Large Cap<br> Fund** |
| Tax cost of portfolio investments | &nbsp;&nbsp;$672723139 | &nbsp;&nbsp;&nbsp;&nbsp;$42563988 | &nbsp;&nbsp;&nbsp;&nbsp;$95090115 | &nbsp;&nbsp;&nbsp;&nbsp;$1635923841 | &nbsp;&nbsp;&nbsp;&nbsp;$169980983 |
| Gross unrealized appreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;312741271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24735180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884383249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130738388 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;(23215279) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1524310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6127269) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55977765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5545408) |
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp;289525992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1351896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18607911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828405484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125192980 |
| Gross unrealized appreciation on foreign currency transactions and deferred foreign capital gains tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Net unrealized appreciation (depreciation) on foreign currency transactions and deferred foreign capital gains tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Capital loss carryforwards | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1962904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63238411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8386388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457329 |
| Undistributed capital gains | &nbsp;&nbsp;&nbsp;&nbsp;17054243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7030783 |
| Other temporary differences | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(917275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Accumulated earnings (deficit) | &nbsp;&nbsp;$305663033 | &nbsp;&nbsp;&nbsp;&nbsp;$(3322493) | &nbsp;&nbsp;&nbsp;&nbsp;$(40625281) | &nbsp;&nbsp;&nbsp;&nbsp;$1838358479 | &nbsp;&nbsp;&nbsp;&nbsp;$133681093 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Large<br> Company<br> Growth<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Small<br> Company<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Value<br> Fund** |
| Tax cost of portfolio investments | &nbsp;&nbsp;$86509759 | &nbsp;&nbsp;&nbsp;&nbsp;$905492629 | &nbsp;&nbsp;&nbsp;&nbsp;$470222087 |
| Gross unrealized appreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;86191965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316066412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134969123 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;(2895462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47331626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22655301) |
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp;83296503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268734786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112313822 |
| Gross unrealized appreciation on foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Gross unrealized depreciation on foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized appreciation (depreciation) on foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;1423255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14108870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733425 |
| Undistributed capital gains | &nbsp;&nbsp;&nbsp;&nbsp;3558179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7818481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48047287 |
| Accumulated earnings (deficit) | &nbsp;&nbsp;$88277938 | &nbsp;&nbsp;&nbsp;&nbsp;$290662047 | &nbsp;&nbsp;&nbsp;&nbsp;$163094535 |

---

The difference between the tax cost of portfolio investments and the financial statement cost is primarily due to wash sale loss deferrals, investments in passive foreign investment company ("PFIC") adjustments and callable bonds.

As of June 30, 2025, the Funds had the following capital loss carryforwards for federal income tax purposes:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**No Expiration<br> Short Term** | &nbsp;&nbsp;&nbsp;**No Expiration<br> Long Term** | &nbsp;&nbsp;&nbsp;**Total** |
| Core Municipal Bond Fund | &nbsp;&nbsp;$1315202 | &nbsp;&nbsp;&nbsp;$647702 | &nbsp;&nbsp;&nbsp;$1962904 |
| International Value Fund\* | &nbsp;&nbsp;&nbsp;33763332 | &nbsp;&nbsp;&nbsp;&nbsp;29475079 | &nbsp;&nbsp;&nbsp;&nbsp;63238411 |

---

*\** *Future utilization may be limited under current tax laws.* 

The capital loss carryforwards may be utilized in future years to offset net realized capital gains, if any, prior to distributing such gains to shareholders.

During the year ended June 30, 2025, the following Fund utilized capital loss carryforwards:

---

| | |
|:---|:---|
| **Fund** | &nbsp;&nbsp;**Utilized** |
| Balanced Fund | &nbsp;&nbsp;$5851503 |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756729 |

---

The Funds recognize tax benefits or expenses of uncertain tax positions only when the position is more likely than not to be sustained assuming examination by tax authorities. Management of the Funds has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the previous three tax year ends and the interim

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

tax period since then, as applicable) and has concluded that no provision for unrecognized tax benefits or expenses is required in these financial statements and does not expect this to change over the next six months. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits in the Statements of Operations. During the period, the Funds did not incur any interest or penalties.

As of December 31, 2025, the Funds had federal tax costs resulting in net unrealized appreciation (depreciation) as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Federal Tax<br> Cost** | &nbsp;&nbsp;&nbsp;**Gross<br> Unrealized<br> Appreciation<br> on Investments** | &nbsp;&nbsp;&nbsp;**Gross<br> Unrealized<br> Depreciation<br> on Investments** | &nbsp;&nbsp;&nbsp;**Gross<br> Unrealized<br> Appreciation<br> on Other<sup>(1)</sup>** | &nbsp;&nbsp;&nbsp;**Gross<br> Unrealized<br> Depreciation<br> on Other<sup>(1)</sup>** | &nbsp;&nbsp;&nbsp;**Net<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| Balanced Fund | $674373717 | &nbsp;&nbsp;&nbsp;$353243974 | &nbsp;&nbsp;&nbsp;$(18573333) | &nbsp;&nbsp;&nbsp;$74 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$334670715 |
| Core Municipal Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42521867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(845113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(396717) |
| International Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;109837850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35692704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1492008) | &nbsp;&nbsp;&nbsp;&nbsp;60713 | &nbsp;&nbsp;&nbsp;&nbsp;(111965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34149444 |
| Large Cap Focused Fund | &nbsp;&nbsp;&nbsp;1625695995 | &nbsp;&nbsp;&nbsp;&nbsp;2095140917 | &nbsp;&nbsp;&nbsp;&nbsp;(47100008) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2048040909 |
| Large Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp;163169139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144961569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3771469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141190100 |
| Large Company Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81759608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83891582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2498265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81393317 |
| Small Company Fund | &nbsp;&nbsp;&nbsp;1108328510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376410766 | &nbsp;&nbsp;&nbsp;&nbsp;(34026934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342383832 |
| Value Fund | &nbsp;&nbsp;&nbsp;&nbsp;454488195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143532865 | &nbsp;&nbsp;&nbsp;&nbsp;(12321158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131211707 |

---

*<sup>(1)</sup>* *Other includes Derivatives and Foreign Currency Transactions.*

7. Commitments and Contingencies

The Funds indemnify the Trust's officers and Trustees for certain liabilities that might arise from their performance of their duties to the Funds. Additionally, in the normal course of business, the Funds enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds.

8. Principal Risks

**Risks Associated with Foreign Investments – Certain Funds may invest in the securities of foreign issuers. Investing in securities issued by companies whose principal business activities are outside the U.S. may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitations on the removal of funds or other assets of a Fund, political or financial instability or diplomatic and other developments which could affect such investments. Political and military events may cause market disruptions. Foreign stock markets, while growing in volume and sophistication, are generally not as developed as those in the U.S., and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker-dealers, and issuers than in the U.S.** 

**Risks Associated with Sector Concentration – Certain Funds may invest a high percentage of their assets in specific sectors of the market in order to achieve a potentially greater investment return. As a result, these Funds may be more susceptible to economic, political, and regulatory developments, positive or negative, in a particular sector of the market and may experience increased volatility in the Funds' NAVs and magnified effect on the total return.**

**Risks Associated with Credit – An issuer may be unable to make timely payments of either principal or interest. This may cause the issuer's securities to decline in value. Credit risk is particularly relevant to those Funds that invest a significant amount of their assets in junk bonds or lower-rated securities.**

**Risks Associated with Cybersecurity – With the increased use of technologies, such as mobile devices and "cloud"-based service offerings and the dependence on the Internet and computer systems to perform necessary business functions, the Funds' service providers are susceptible to Cybersecurity risks that could result in losses to a Fund and its shareholders. Cybersecurity breaches are either intentional or unintentional events that allow an unauthorized party to gain access to Fund assets, customer data, or proprietary information, or cause a Fund or Fund service provider to suffer data corruption or lose operational functionality. A Cybersecurity breach could result in the loss or theft of customer data or funds, loss or theft of proprietary information or corporate data, physical damage to a computer or network system, or costs associated with system repairs, any of which could have a substantial impact on a Fund. Cybersecurity incidents could cause a Fund, the Adviser, a Sub-Adviser, or other service provider to incur regulatory penalties, reputational damage, compliance costs associated with corrective measures, litigation costs, or financial**

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

loss. They may also result in violations of applicable privacy and other laws. In addition, such incidents could affect issuers in which a Fund invests, thereby causing the Fund's investments to lose value.

**Risks Associated with Interest Rate Changes – In general, when interest rates rise, the prices of debt securities fall, and when interest rates fall, the prices of debt securities rise. The price volatility of a debt security also depends on its maturity. Longer-term securities are generally more volatile, so the longer the average maturity or duration of these securities, the greater their price risk. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates that incorporates a security's yield, coupon, final maturity, and call features, among other characteristics. The longer a fixed-income security's duration, the more sensitive it will be to changes in interest rates. Maturity, on the other hand, is the date on which a fixed-income security becomes due for payment of principal. Recent and potential future changes in government policy may affect interest rates.**

**Risks Associated with Liquidity – Liquidity risk exists when particular investments are difficult to purchase or sell. This can reduce a Fund's returns because the Fund may be unable to transact at advantageous times or prices, or at all.**

**Risks Associated with Health Crises – A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect Fund performance. For example, the COVID-19 pandemic has resulted and may continue to result in significant disruptions to global business activity and market volatility due to disruptions in market access, resource availability, facilities, operations, imposition of tariffs, export controls and supply chain disruption, among others. The impact of a health crisis and other epidemics and pandemics that may arise in the future, could affect the global economy in ways that cannot necessarily be foreseen at the present time. A health crisis may exacerbate other pre-existing political, social and economic risks. Any such impact could adversely affect a Fund's performance, resulting in losses to your investment.**

Please see the Funds' prospectus and statement of additional information for a complete discussion of these and other risks.

9. Subsequent Events

Subsequent events occurring after the date of this report have been evaluated for potential impact to this report through the date the financial statements were issued.

At a meeting held on August 14, 2025, the Board approved converting the Large Company Growth Fund (the "Target Fund") into an exchange-traded fund ("ETF"), by the reorganization of the Target Fund into the Large Company Growth ETF (the "Acquiring ETF"), which upon filing will be a newly-created ETF series of the Touchstone ETF Trust (the "Reorganization"). The Reorganization does not require approval of the Target Fund's shareholders. A prospectus/information statement on Form N-14 containing more information regarding the Acquiring ETF and the Reorganization was filed with the Securities and Exchange Commission on December 22, 2025 and, once effective, will be mailed to Target Fund shareholders of record. The Reorganization is expected to be completed on or about March 13, 2026.

There were no other subsequent events that necessitated recognition or disclosure in the Funds' financial statements.

------

[**Table of Contents**](#JOB_TS_-__d5a95baf-e314-41f8-ae81-9333c246b5ea_TOCtm266675d1_financials)

Other Items (Unaudited)

#### Proxy Voting Guidelines and Proxy Voting Records
The Sub-Advisers are responsible for exercising the voting rights associated with the securities purchased and held by the Funds. A description of the policies and procedures that the Sub-Advisers use in fulfilling this responsibility is available as an appendix to the most recent Statement of Additional Information, which can be obtained without charge by calling toll free 1.800.543.0407 or by visiting the Touchstone website at TouchstoneInvestments.com or on the Securities and Exchange Commission's (the "Commission") website at sec.gov. Information regarding how those proxies were voted during the most recent twelve-month period ended June 30, which will be filed by August 31 of that year, is also available without charge by calling toll free 1.800.543.0407 or on the Commission's website at sec.gov.

#### Quarterly Portfolio Disclosure
Each Fund's holdings as of the end of the third month of every fiscal quarter will be disclosed on Form N-PORT within 60 days of the end of the fiscal quarter. The complete listing of each Fund's portfolio holdings is available on the Commission's website and will be made available to shareholders upon request by calling 1.800.543.0407.

#### Advisory and Sub-Advisory Agreement Approval Disclosure
At a meeting held on November 20, 2025, the Board of Trustees (the "Board" or "Trustees") of the Touchstone Strategic Trust (the "Trust"), and by a separate vote, the Independent Trustees of the Trust, approved the continuance of the Investment Advisory Agreement between the Trust and the Adviser with respect to each Fund of the Trust, and the continuance of the Sub-Advisory Agreement between the Adviser and each Fund's respective Sub-Adviser.

In determining whether to approve the continuation of the Investment Advisory Agreement and the Sub-Advisory Agreements, the Adviser furnished information necessary for a majority of the Independent Trustees to make the determination that the continuance of the Investment Advisory Agreement and each Sub-Advisory Agreement was in the best interests of the respective Funds and their shareholders. The information provided to the Board included: (1) industry data comparing advisory fees and total expense ratios of comparable funds; (2) comparative performance information; (3) the Adviser's and its affiliates' revenues and costs of providing services to the Funds; and (4) information about the Adviser's and Sub-Advisers' personnel.

Prior to voting, the Independent Trustees reviewed the proposed continuance of the Investment Advisory Agreement and the Sub-Advisory Agreements with management and experienced independent legal counsel and received materials from such counsel discussing the legal standards for their consideration of the proposed continuation of the Investment Advisory Agreement and each Sub-Advisory Agreement. The Independent Trustees also reviewed the proposed continuation of the Investment Advisory Agreement and each Sub-Advisory Agreement with independent legal counsel in private sessions at which no representatives of management were present.

In approving the Funds' Investment Advisory Agreement, the Board considered various factors, among them: (1) the nature, extent and quality of services provided to the Funds, including the personnel providing such services; (2) the Adviser's compensation and profitability; (3) a comparison of fees and performance with comparable funds; (4) economies of scale; and (5) the terms of the Investment Advisory Agreement. The Board's analysis of these factors is set forth below. The Independent Trustees were advised by independent legal counsel throughout the process.

*Nature, Extent and Quality of Adviser Services. The Board considered the level and depth of knowledge of the Adviser, including the professional experience and qualifications of senior personnel. In evaluating the quality of services provided by the Adviser, the Board took into account its familiarity with the Adviser's senior management through Board meetings, discussions and reports during the preceding year. The Board also took into account the Adviser's compliance policies and procedures. The quality of administrative and other services, including the Adviser's role in coordinating the activities of the Funds' other service providers, was also considered. The Board also considered the Adviser's relationship with its affiliates and the resources available to them, as well as any potential conflicts of interest.*

The Board discussed the Adviser's effectiveness in monitoring the performance of each Sub-Adviser, including the one that was an affiliate of the Adviser, and the Adviser's timeliness in responding to performance issues. The Board considered the Adviser's process for monitoring each of the Sub-Advisers, which includes an examination of both qualitative and quantitative elements of the Sub-Adviser's organization, personnel, procedures, investment discipline, infrastructure and performance. The Board considered that the Adviser conducts periodic due diligence of each Sub-Adviser, during which the Adviser examines a wide variety of factors, such as the financial condition of the Sub-Adviser, the quality of the Sub-Adviser's systems, the effectiveness of the Sub-Adviser's disaster recovery programs, trade allocation and execution procedures, compliance with the Sub-Adviser's policies and procedures, results of regulatory examinations and any other factors that might affect the quality of services that the Sub-Adviser provides to the

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Other Items (Unaudited) (Continued)

applicable Fund. The Board noted that the Adviser's monitoring processes also include quarterly reviews of compliance certifications, and that any issues arising from such reviews and the Adviser's due diligence reviews of the Sub-Advisers are reported to the Board.

The Trustees concluded that they were satisfied with the nature, extent and quality of services provided to each Fund by the Adviser under the Investment Advisory Agreement.

*Adviser's Compensation and Profitability. The Board took into consideration the financial condition and profitability of the Adviser and its affiliates (including the affiliated Sub-Adviser to certain of the Funds) and the direct and indirect benefits derived by the Adviser and its affiliates from the Adviser's relationship with the Funds. The information considered by the Board included operating profit margin information for the Adviser's business as a whole. The Board noted that the Adviser had waived a portion of advisory fees and administrative fees and/or reimbursed expenses in order to limit the Funds' net operating expenses. The Board also noted that the Adviser pays the Sub-Advisers' sub-advisory fees out of the advisory fees the Adviser receives from the Funds. The Board reviewed the profitability of the Adviser's relationship with the Funds both before and after-tax expenses, and also considered whether the Adviser has the financial wherewithal to continue to provide services to the Funds, noting the ongoing commitment of the Adviser's parent company with respect to providing support and resources as needed. The Board considered that certain affiliates of the Adviser and the Funds' distributor receive Rule 12b-1 distribution fees and shareholder service fees that are paid from Fund assets. The Board also noted that the Adviser derives benefits to its reputation and other benefits from its association with the Funds.*

The Board recognized that the Adviser should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the entrepreneurial risk that it assumes as Adviser. Based upon their review, the Trustees concluded that the Adviser's and its affiliates' level of profitability, if any, from their relationship with each Fund was reasonable and not excessive.

*Expenses and Performance. The Board compared the respective advisory fees and total expense ratios for each of the Funds with various comparative data, including the median and average advisory fees and total expense ratios of each Fund's respective peer group. The Board also considered, among other data, the Funds' respective performance results during the six-month, twelve-month and thirty-six-month periods ended September 30, 2025, as applicable, and noted that the Board reviews on a quarterly basis detailed information about each Fund's performance results, portfolio composition and investment strategies. The Board also took into account current market conditions and their effect on the Funds' performance.*

The Board also considered the effect of each Fund's growth and size on its performance and expenses. The Board noted that the Adviser had waived a portion of the fees and/or reimbursed expenses of the Funds in order to reduce those Funds' respective operating expenses to targeted levels. The Board noted that the sub-advisory fees under the Sub-Advisory Agreement with respect to each Fund were paid by the Adviser out of the advisory fees it receives from the Fund and considered the impact of such sub-advisory fees on the profitability of the Adviser. In reviewing the respective total expense ratios and performance of each of the Funds, the Board also took into account the nature, extent and quality of the services provided to the Funds by the Adviser and its affiliates.

The Board considered, among other data, the specific factors and related conclusions set forth below with respect to each Fund:

<u>Touchstone Balanced Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were below and above the median, respectively, of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for the six-month period ended September 30, 2025 was in the 2nd quintile, while the Fund's performance for each of the twelve- and thirty-six-month periods ended September 30, 2025 was in the 1st quintile of its peer group. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone Core Municipal Bond Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were each at the median of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six- and twelve-month periods ended September 30, 2025 was in the 4th quintile of its peer group, while the Fund's performance for the thirty-six-month period ended September 30, 2025 was in the 3rd quintile of its peer group. The Board noted management's discussion of the Fund's performance. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone International Value Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were each below the median of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six- and twelve month periods ended September 30, 2025, was in the 1st quintile of its peer group. Based upon their review, the Trustees concluded that the Fund's

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Other Items (Unaudited) (Continued)

overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund and the other factors considered.

<u>Touchstone Large Cap Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were each at the median of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six-, twelve- and thirty-six-month periods ended September 30, 2025 was in the 5th quintile of its peer group. The Board noted management's discussion of the Fund's performance. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone Large Cap Focused Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were below the median and above the median, respectively, of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six-, twelve- and thirty-six-month periods ended September 30, 2025 was in the 3rd quintile of its peer group. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone Large Company Growth Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were below the median and above the median, respectively, of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six- and twelve-month periods ended September 30, 2025 was in the 2nd quintile of its peer group, while the Fund's performance for the thirty-six-month period ended September 30, 2025 was in the 3rd quintile of its peer group. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone Small Company Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were each below the median of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for the six-month period ended September 30, 2025 was in the 3rd quintile, while the Fund's performance for each of the twelve- and thirty-six-month periods ended September 30, 2025 was in the 2nd quintile of its peer group. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

<u>Touchstone Value Fund</u>. The Fund's advisory fee and total expense ratio (net of applicable expense waivers and reimbursements) were below the median and above the median, respectively, of its peer group. The Board noted that the Adviser was currently waiving and/or reimbursing a portion of the Fund's fees and/or expenses. The Fund's performance for each of the six- and thirty-six-month periods ended September 30, 2025 was in the 3rd quintile, while the Fund's performance for the twelve-month period ended September 30, 2025 was in the 4th quintile of its peer group. The Board noted management's discussion of the Fund's performance. Based upon their review, the Trustees concluded that the Fund's overall performance was satisfactory relative to the performance of funds with similar investment objectives and relevant indices, and that the advisory fee was reasonable in light of the services received by the Fund from the Adviser and the other factors considered.

*Economies of Scale. The Board considered the effect of each Fund's current size and potential growth on its performance and expenses. The Board took into account management's discussion of the Funds' advisory fee structure. The Board considered the effective advisory fees under the Investment Advisory Agreement as a percentage of assets at different asset levels and possible economies of scale that might be realized if the assets of each Fund increase. The Board noted that the advisory fee schedules for all but one of the Funds contain breakpoints that would reduce the respective advisory fee rate on assets above specified levels as the respective Fund's assets increased and considered the appropriateness of adding breakpoints with respect to the one Fund that did not currently have such breakpoints in its advisory fee schedule. The Board determined that adding breakpoints at specified levels to the advisory fee schedule of the one Fund that currently did not have such breakpoints was not appropriate at that time. The Board also noted that if a Fund's assets increase over time, the Fund might realize other economies of scale if assets increase proportionally more than certain other expenses. The Board also considered the fact that, under the Investment Advisory Agreement, the advisory fee payable to the Adviser by a Fund was reduced by the total sub-advisory fee paid by the Adviser to the Fund's Sub-Adviser.*

*Conclusion. In considering the renewal of the Funds' Investment Advisory Agreement, the Board, including the Independent Trustees, did not identify any single factor as controlling, and each Trustee may have attributed different weights to the various*

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Other Items (Unaudited) (Continued)

factors. The Trustees evaluated all information available to them on a Fund-by-Fund basis, and their determinations were made separately with respect to each Fund. The Board reached the following conclusions regarding the Funds' Investment Advisory Agreement with the Adviser, among others: (a) the Adviser demonstrated that it possesses the capability and resources to perform the duties required of it under the Investment Advisory Agreement; (b) the Adviser maintains an appropriate compliance program; (c) the overall performance of each Fund is satisfactory relative to the performance of funds with similar investment objectives and relevant indices; and (d) each Fund's advisory fee is reasonable in light of the services received by the Fund from the Adviser and the other factors considered. Based on their conclusions, the Trustees determined with respect to each Fund that continuation of the Investment Advisory Agreement was in the best interests of the Fund and its shareholders.

In approving the Funds' respective Sub-Advisory Agreements, the Board considered various factors with respect to each Fund and the applicable Sub-Advisory Agreement, among them: (1) the nature, extent and quality of services provided to the Fund, including the personnel providing such services; (2) the Sub-Adviser's compensation; (3) a comparison of the sub-advisory fee and performance with comparable funds; and (4) the terms of the Sub-Advisory Agreement. The Board's analysis of these factors is set forth below. The Independent Trustees were advised by independent legal counsel throughout the process.

*Nature, Extent and Quality of Services Provided; Investment Personnel. The Board considered information provided by the Adviser regarding the services provided by each Sub-Adviser, including information presented periodically throughout the previous year. The Board noted the affiliation of the Sub-Adviser to certain of the Funds with the Adviser, noting any potential conflicts of interest. The Board noted that, on a periodic basis, the Board meets with portfolio managers of the Sub-Advisers to discuss their respective performance and investment processes and strategies. The Board also considered each Sub-Adviser's level of knowledge and investment style. The Board reviewed the experience and credentials of the applicable investment personnel who are responsible for managing the investment of portfolio securities with respect to the Funds. The Board also noted each Sub-Adviser's brokerage practices.*

*Sub-Adviser's Compensation, Profitability and Economies of Scale. The Board also took into consideration the financial condition of each Sub-Adviser and any indirect benefits derived by each Sub-Adviser and its affiliates from the Sub-Adviser's relationship with the Funds. In considering the profitability to each Sub-Adviser of its relationship with the Funds, the Board noted the undertaking of the Adviser to maintain expense limitations for the Funds and also noted that the sub-advisory fees under the Sub-Advisory Agreements were paid by the Adviser out of the advisory fees that it receives under the Investment Advisory Agreement and in addition, with respect to the unaffiliated Sub-Advisers, are negotiated at arm's-length. As a consequence, the profitability to each Sub-Adviser of its relationship with a Fund was not a substantial factor in the Board's deliberations. For similar reasons, the Board did not consider the potential economies of scale in each Sub-Adviser's management of the applicable Fund to be a substantial factor in its consideration, although the Board noted that the sub-advisory fee schedule for all the Funds contained breakpoints that would reduce the sub-advisory fee rate on assets above specified levels as the applicable Fund's assets increased.*

*Sub-Advisory Fees and Fund Performance. The Board considered that each Fund pays an advisory fee to the Adviser and that the Adviser pays the sub-advisory fee to the Sub-Adviser out of the advisory fee it receives from the respective Fund. The Board noted that the Touchstone Core Municipal Bond Fund's Sub-Adviser had waived a portion of its sub-advisory fees in an effort to maintain the respective Fund's expense limitations. The Board also compared the sub-advisory fees paid by the Adviser to fees charged by each Sub-Adviser to manage comparable institutional separate accounts, as applicable. The Board considered the amount retained by the Adviser and the sub-advisory fee paid to each Sub-Adviser with respect to the various services provided by the Adviser and the Sub-Adviser. The Board also noted that the Adviser negotiated the sub-advisory fee with each of the unaffiliated Sub-Advisers at arm's-length. The Board reviewed the sub-advisory fee for each Fund in relation to various comparative data, including the median and average sub-advisory fees of each Fund's peer group, and considered the following information:*

<u>Touchstone Balanced Fund</u>. The Fund's sub-advisory fee was at the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone Core Municipal Bond Fund</u>. The Fund's sub-advisory fee was above the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone International Value Fund</u>. The Fund's sub-advisory fee was above the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone Large Cap Fund</u>. The Fund's sub-advisory fee was above the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

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Other Items (Unaudited) (Continued)

<u>Touchstone Large Cap Focused Fund</u>. The Fund's sub-advisory fee was above the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone Large Company Growth Fund</u>. The Fund's sub-advisory fee was above the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone Small Company Fund</u>. The Fund's sub-advisory fee was below the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

<u>Touchstone Value Fund</u>. The Fund's sub-advisory fee was at the median of its peer group. Based upon their review, the Trustees concluded that the sub-advisory fee was reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered.

As noted above, the Board considered each Fund's performance during the six-month, twelve-month and thirty-six-month periods ended September 30, 2025, as applicable, as compared to each Fund's peer group and noted that the Board reviews on a quarterly basis detailed information about each Fund's performance results, portfolio composition and investment strategies. The Board also noted the Adviser's expertise and resources in monitoring the performance, investment style and risk-adjusted performance of each Sub-Adviser. The Board also was mindful of the Adviser's ongoing monitoring of each Sub-Adviser's performance and the measures undertaken by the Adviser to address any underperformance.

*Conclusion. In considering the renewal of the Sub-Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, did not identify any single factor as controlling, and each Trustee may have attributed different weights to the various factors. The Board reached the following conclusions regarding each Sub-Advisory Agreement, among others: (a) the Sub-Adviser is qualified to manage each Fund's assets in accordance with the Fund's investment goals and policies; (b) the Sub-Adviser maintains an appropriate compliance program; (c) the overall performance of each Fund is satisfactory relative to the performance of funds with similar investment objectives and relevant indices; (d) each Fund's sub-advisory fee is reasonable in light of the services received by the Fund from the Sub-Adviser and the other factors considered; and (e) the Sub-Adviser's investment strategies are appropriate for pursuing the investment goals of each Fund. Based on its conclusions, the Board determined that approval of the Sub-Advisory Agreement with respect to each Fund was in the best interests of the Fund and its shareholders.*

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#### Touchstone Investments

#### Distributor
Touchstone Securities, Inc.\*

303 Broadway

Cincinnati, Ohio 45202-4203

800.638.8194 www.touchstoneinvestments.com

#### Investment Adviser
Touchstone Advisors, Inc.\*

303 Broadway

Cincinnati, Ohio 45202-4203

#### Transfer Agent
BNY Mellon Investment Servicing (US) Inc.

P.O. Box 534467

Pittsburgh, PA 15253-4467

#### Shareholder Service
800.543.0407 \* A Member of Western & Southern Financial Group

TSF-TST-SR-NCSR-2512

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

Not applicable.

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

Not applicable.

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

The information is included as part of the material filed under Item 7 of this Form.

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

The information is included as part of the material filed under Item 7 of this Form.

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

Not applicable.

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

Not applicable.

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

Not applicable.

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

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

**Item 16. Controls and Procedures.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's principal executive and principal financial officers, or persons performing similar
functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under
the 1940 Act (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940
Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR
240.13a-15(b) or 240.15d-15(b)).

&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the registrant's internal control over financial reporting (as defined
in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that have
materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

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

Not applicable.

**Item 18. Recovery of Erroneously Awarded Compensation.**

Not Applicable.

**Item 19. Exhibits.**

(a)(1) Not applicable.

(a)(2) Not applicable.

[(a)(3)](tm266675d1_ex99-cert.htm) [Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](tm266675d1_ex99-cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b)](tm266675d1_ex99-906cert.htm) [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes- Oxley Act of 2002 are attached hereto.](tm266675d1_ex99-906cert.htm)

**SIGNATURES**

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

(Registrant) Touchstone
 Strategic Trust

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Terrie A. Wiedenheft |
|  | Terrie A. Wiedenheft, President |
|  | (principal executive officer) |

---

Date: <u>3/2/2026</u>

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

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Terrie A. Wiedenheft |
|  | Terrie A. Wiedenheft, President |
|  | (principal executive officer) |

---

Date: <u>3/2/2026</u>

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Terri A. Lucas |
|  | Terri A. Lucas, Controller and Treasurer |
|  | (principal financial officer) |

---

Date: <u>3/2/2026</u>

## Ex-99.Cert

**Exhibit 99.CERT**

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act**

I, Terrie A. Wiedenheft, certify that:

1. I have reviewed this report on Form N-CSR of Touchstone Strategic Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing
date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report
financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: <u>3/2/2026</u> | /s/ Terrie A. Wiedenheft |
|  | Terrie A. Wiedenheft, President |
|  | (principal executive officer) |

---

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act**

I, Terri A. Lucas, certify that:

1. I have reviewed this report on Form N-CSR of Touchstone Strategic Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing
date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report
financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: <u>3/2/2026</u> | /s/ Terri A. Lucas |
|  | Terri A. Lucas, Controller and Treasurer |
|  | (principal financial officer) |

---

## Exhibit 99.906

**Exhibit 99.906CERT**

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act**

I, Terrie A. Wiedenheft, President of Touchstone Strategic Trust (the "Registrant"), certify that:

1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>3/2/2026</u> | /s/ Terrie A. Wiedenheft |
|  | Terrie A. Wiedenheft, President |
|  | (principal executive officer) |

---

I, Terri A. Lucas, Controller and Treasurer of Touchstone Strategic Trust (the "Registrant"), certify that:

1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | |
|:---|:---|
| Date: <u>3/2/2026</u> | /s/ Terri A. Lucas |
|  | Terri A. Lucas, Controller and Treasurer |
|  | (principal financial officer) |

---