# EDGAR Filing Document

**Accession Number:** 0000711080
**File Stem:** 0001104659-25-118050
**Filing Date:** 2025-12
**Character Count:** 518783
**Document Hash:** b4df97a935070855d455ee0a37fdede9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-118050.hdr.sgml**: 20251203

**ACCESSION NUMBER**: 0001104659-25-118050

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251203

**DATE AS OF CHANGE**: 20251203

**EFFECTIVENESS DATE**: 20251203

**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:** 251545952

**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 Non-US Equity Fund (Series ID: S000003123)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000008460 | Touchstone Non-US Equity Fund Class Y             | TIQIX           |
| C000008461 | Touchstone Non-US Equity Fund Class A             | TEQAX           |
| C000008463 | Touchstone Non-US Equity Fund Class C             | TEQCX           |
| C000156058 | Touchstone Non-US Equity Fund Institutional Class | TROCX           |

### Mid Cap Growth Fund (Series ID: S000003124)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000008464 | Mid Cap Growth Fund Class A             | TEGAX           |
| C000008466 | Mid Cap Growth Fund Class C             | TOECX           |
| C000074340 | Mid Cap Growth Fund Class Y             | TEGYX           |
| C000101896 | Mid Cap Growth Fund Institutional Class | TEGIX           |
| C000217963 | Class R6                                | TFGRX           |

### Touchstone Dynamic Large Cap Growth Fund (Series ID: S000003125)

| Class ID   | Class Name                                                   | Ticker Symbol   |
|:---|:---|:---|
| C000008467 | Touchstone Dynamic Large Cap Growth Fund Class A             | TGVFX           |
| C000008469 | Touchstone Dynamic Large Cap Growth Fund Class C             | TGVCX           |
| C000074341 | Touchstone Dynamic Large Cap Growth Fund Class Y             | TGVYX           |
| C000074342 | Touchstone Dynamic Large Cap Growth Fund Institutional Class | TGVVX           |
| C000262332 | Touchstone Dynamic Large Cap Growth Fund Class R6            | TGVLX           |

### Touchstone Focused Fund (Series ID: S000035683)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000109254 | A             | TFOAX           |
| C000109255 | C             | TFFCX           |
| C000109256 | Institutional | TFFIX           |
| C000109257 | Y             | TFFYX           |

### Touchstone Flexible Income Fund (Series ID: S000038009)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000117280 | Class A             | FFSAX           |
| C000117281 | Class C             | FRACX           |
| C000117282 | Class Y             | MXIIX           |
| C000117283 | Institutional Class | TFSLX           |

### Touchstone Sands Capital Emerging Markets Growth Fund (Series ID: S000045166)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000140622 | Class Y             | TSEMX           |
| C000140623 | Institutional Class | TSEGX           |
| C000206050 | Class A             | TSMGX           |
| C000206051 | Class C             | TEGCX           |
| C000227353 | Class R6            | TSRMX           |

### Touchstone Strategic Income Fund (Series ID: S000071603)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000226976 | Class C             | TQPCX           |
| C000226977 | Class A             | TQPAX           |
| C000226978 | Class Y             | TQPYX           |
| C000226979 | Institutional Class | TQPIX           |

?xml version='1.0' encoding='ASCII'? 34702758-d33b-449b-9652-d77fbc34e893

#### 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 - March 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:

#### March 31

#### Date of reporting period:

#### September 30, 2025
**Item 1: Reports to Shareholders.**

(a) The Report to Shareholders is attached herewith.

**TABLE OF CONTENTS**

---

| |
|:---|
|  [Touchstone Flexible Income Fund](#classname65f0a561-2b67-4749-9b7d-55e7d23693c9)<br> **[CLASS A - FFSAX](#classname65f0a561-2b67-4749-9b7d-55e7d23693c9)**  |
|  [Touchstone Flexible Income Fund](#classname72fad7fd-5063-4ee2-9158-80ece39889fa)<br> **[CLASS C - FRACX](#classname72fad7fd-5063-4ee2-9158-80ece39889fa)**  |
|  [Touchstone Flexible Income Fund](#classnamec0e28686-eb10-4a85-b0e9-c5612dcc8a24)<br> **[CLASS Y - MXIIX](#classnamec0e28686-eb10-4a85-b0e9-c5612dcc8a24)**  |
|  [Touchstone Flexible Income Fund](#classname0033ec2d-5c2a-43b2-8a36-097d462ce638)<br> **[INSTITUTIONAL CLASS - TFSLX](#classname0033ec2d-5c2a-43b2-8a36-097d462ce638)**  |
|  [Touchstone Focused Fund](#classname1288cf82-6957-4365-bf17-225049946c30)<br> **[CLASS A - TFOAX](#classname1288cf82-6957-4365-bf17-225049946c30)**  |
|  [Touchstone Focused Fund](#classname06010f39-acd4-45ef-a30c-ed30a2ed2074)<br> **[CLASS C - TFFCX](#classname06010f39-acd4-45ef-a30c-ed30a2ed2074)**  |
|  [Touchstone Focused Fund](#classname1d623179-d400-401b-9db5-31758747ea54)<br> **[CLASS Y - TFFYX](#classname1d623179-d400-401b-9db5-31758747ea54)**  |
|  [Touchstone Focused Fund](#classname45945beb-53fc-4201-9391-b2177f098cc8)<br> **[INSTITUTIONAL CLASS - TFFIX](#classname45945beb-53fc-4201-9391-b2177f098cc8)**  |
|  [Touchstone Dynamic Large Cap Growth Fund](#classnamef0938018-12d7-4cdf-80bd-ff80aab96212)<br> **[CLASS A - TGVFX](#classnamef0938018-12d7-4cdf-80bd-ff80aab96212)**  |
|  [Touchstone Dynamic Large Cap Growth Fund](#classnamefe44ee97-3356-4840-8548-2e2a50c2ed97)<br> **[CLASS C - TGVCX](#classnamefe44ee97-3356-4840-8548-2e2a50c2ed97)**  |
|  [Touchstone Dynamic Large Cap Growth Fund](#classnamee41d276d-2d7c-43f8-9bf9-1ab11a234474)<br> **[CLASS Y - TGVYX](#classnamee41d276d-2d7c-43f8-9bf9-1ab11a234474)**  |
|  [Touchstone Dynamic Large Cap Growth Fund](#classname5831bb7b-f6b4-4a62-b51c-4f8310a8baa8)<br> **[INSTITUTIONAL CLASS - TGVVX](#classname5831bb7b-f6b4-4a62-b51c-4f8310a8baa8)**  |
|  [Touchstone Dynamic Large Cap Growth Fund](#classname5fb9e589-3ea1-4a84-a209-63b85760cad2)<br> **[CLASS R6 - TGVLX](#classname5fb9e589-3ea1-4a84-a209-63b85760cad2)**  |
|  [Touchstone Mid Cap Growth Fund](#classname7a53fc03-06fa-4bdd-b0a2-6f0438a2dace)<br> **[CLASS A - TEGAX](#classname7a53fc03-06fa-4bdd-b0a2-6f0438a2dace)**  |
|  [Touchstone Mid Cap Growth Fund](#classname8047e42f-9619-4de5-a048-c70f77c58705)<br> **[CLASS C - TOECX](#classname8047e42f-9619-4de5-a048-c70f77c58705)**  |
|  [Touchstone Mid Cap Growth Fund](#classnamef428ff62-2f56-428c-a3fe-e21b2ee0c2e2)<br> **[CLASS Y - TEGYX](#classnamef428ff62-2f56-428c-a3fe-e21b2ee0c2e2)**  |
|  [Touchstone Mid Cap Growth Fund](#classname5c385d01-b9c5-4f49-8d59-929094524153)<br> **[INSTITUTIONAL CLASS - TEGIX](#classname5c385d01-b9c5-4f49-8d59-929094524153)**  |
|  [Touchstone Mid Cap Growth Fund](#classname07f72363-571a-4196-8f29-79f0a99e990e)<br> **[CLASS R6 - TFGRX](#classname07f72363-571a-4196-8f29-79f0a99e990e)**  |
|  [Touchstone Non-US Equity Fund](#classname232a5d05-9a45-449f-abd2-044be88add33)<br> **[CLASS A - TEQAX](#classname232a5d05-9a45-449f-abd2-044be88add33)**  |
|  [Touchstone Non-US Equity Fund](#classname347c3eb0-0500-4dc0-97a4-7360ab1586d6)<br> **[CLASS C - TEQCX](#classname347c3eb0-0500-4dc0-97a4-7360ab1586d6)**  |
|  [Touchstone Non-US Equity Fund](#classnameba149366-72ca-4138-91af-6fa70200c995)<br> **[CLASS Y - TIQIX](#classnameba149366-72ca-4138-91af-6fa70200c995)**  |
|  [Touchstone Non-US Equity Fund](#classname13d8c9d9-68ee-49fe-8c94-c3e90189aa13)<br> **[INSTITUTIONAL CLASS - TROCX](#classname13d8c9d9-68ee-49fe-8c94-c3e90189aa13)**  |
|  [Touchstone Sands Capital Emerging Markets Growth Fund](#classnamec5771790-a418-42a2-8b15-174cc3535db5)<br> **[CLASS A - TSMGX](#classnamec5771790-a418-42a2-8b15-174cc3535db5)**  |
|  [Touchstone Sands Capital Emerging Markets Growth Fund](#classname7c10d7ea-9f32-4b8a-b3d5-36492450e24f)<br> **[CLASS C - TEGCX](#classname7c10d7ea-9f32-4b8a-b3d5-36492450e24f)**  |
|  [Touchstone Sands Capital Emerging Markets Growth Fund](#classname0458a120-0eca-4fec-b636-980ff3f897fb)<br> **[CLASS Y - TSEMX](#classname0458a120-0eca-4fec-b636-980ff3f897fb)**  |
|  [Touchstone Sands Capital Emerging Markets Growth Fund](#classname177224f4-6daa-4001-89f5-08caa2b12d79)<br> **[INSTITUTIONAL CLASS - TSEGX](#classname177224f4-6daa-4001-89f5-08caa2b12d79)**  |
|  [Touchstone Sands Capital Emerging Markets Growth Fund](#classname96ba1ffd-26a1-452a-8548-af574e6d3989)<br> **[CLASS R6 - SRMX](#classname96ba1ffd-26a1-452a-8548-af574e6d3989)**  |
|  [Touchstone Strategic Income Fund](#classname901f09ff-59ab-440e-bf07-d696616c3ea0)<br> **[CLASS A - TQPAX](#classname901f09ff-59ab-440e-bf07-d696616c3ea0)**  |
|  [Touchstone Strategic Income Fund](#classname68e36a14-8368-4e19-bb61-de41e9dc3d22)<br> **[CLASS C - TQPCX](#classname68e36a14-8368-4e19-bb61-de41e9dc3d22)**  |
|  [Touchstone Strategic Income Fund](#classname9278ecb5-7adc-425d-ad8b-2ad0a19ed661)<br> **[CLASS Y - TQPYX](#classname9278ecb5-7adc-425d-ad8b-2ad0a19ed661)**  |
|  [Touchstone Strategic Income Fund](#classnamed041bb53-c1e3-40a4-bad9-46b6cba9476e)<br> **[INSTITUTIONAL CLASS - TQPIX](#classnamed041bb53-c1e3-40a4-bad9-46b6cba9476e)**  |

---

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Flexible Income Fund

#### CLASS A \| FFSAX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Flexible Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $53 | 1.04% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1761671301 |
| **Total number of portfolio holdings** | 349 |
| **Portfolio turnover rate** | 35% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 31.7% |
| Non-Agency Collateralized Mortgage Obligations | 20.3% |
| Agency Collateralized Mortgage Obligations | 12.8% |
| U.S. Treasury Obligations | 11.5% |
| Asset-Backed Securities | 8.7% |
| Exchange-Traded Funds | 6.6% |
| Preferred Stocks | 4.1% |
| Commercial Mortgage-Backed Securities | 0.1% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 31.6% |
| AA/Aa | 12.6% |
| A/A | 7.8% |
| BBB/Baa | 20.4% |
| BB/Ba | 2.1% |
| B/B | 1.5% |
| Not Rated | 24.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-FFSAX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Flexible Income Fund

#### CLASS C \| FRACX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Flexible Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $91 | 1.79% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1761671301 |
| **Total number of portfolio holdings** | 349 |
| **Portfolio turnover rate** | 35% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 31.7% |
| Non-Agency Collateralized Mortgage Obligations | 20.3% |
| Agency Collateralized Mortgage Obligations | 12.8% |
| U.S. Treasury Obligations | 11.5% |
| Asset-Backed Securities | 8.7% |
| Exchange-Traded Funds | 6.6% |
| Preferred Stocks | 4.1% |
| Commercial Mortgage-Backed Securities | 0.1% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 31.6% |
| AA/Aa | 12.6% |
| A/A | 7.8% |
| BBB/Baa | 20.4% |
| BB/Ba | 2.1% |
| B/B | 1.5% |
| Not Rated | 24.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-FRACX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Flexible Income Fund

#### CLASS Y \| MXIIX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Flexible Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 0.79% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1761671301 |
| **Total number of portfolio holdings** | 349 |
| **Portfolio turnover rate** | 35% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 31.7% |
| Non-Agency Collateralized Mortgage Obligations | 20.3% |
| Agency Collateralized Mortgage Obligations | 12.8% |
| U.S. Treasury Obligations | 11.5% |
| Asset-Backed Securities | 8.7% |
| Exchange-Traded Funds | 6.6% |
| Preferred Stocks | 4.1% |
| Commercial Mortgage-Backed Securities | 0.1% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 31.6% |
| AA/Aa | 12.6% |
| A/A | 7.8% |
| BBB/Baa | 20.4% |
| BB/Ba | 2.1% |
| B/B | 1.5% |
| Not Rated | 24.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-MXIIX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Flexible Income Fund

#### INSTITUTIONAL CLASS \| TFSLX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Flexible Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $35 | 0.69% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1761671301 |
| **Total number of portfolio holdings** | 349 |
| **Portfolio turnover rate** | 35% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 31.7% |
| Non-Agency Collateralized Mortgage Obligations | 20.3% |
| Agency Collateralized Mortgage Obligations | 12.8% |
| U.S. Treasury Obligations | 11.5% |
| Asset-Backed Securities | 8.7% |
| Exchange-Traded Funds | 6.6% |
| Preferred Stocks | 4.1% |
| Commercial Mortgage-Backed Securities | 0.1% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 31.6% |
| AA/Aa | 12.6% |
| A/A | 7.8% |
| BBB/Baa | 20.4% |
| BB/Ba | 2.1% |
| B/B | 1.5% |
| Not Rated | 24.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFSLX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Focused Fund

#### CLASS A \| TFOAX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Focused Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $63 | 1.16% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1406613266 |
| **Total number of portfolio holdings** | 48 |
| **Portfolio turnover rate** | 3% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 32.0% |
| Communication Services | 16.0% |
| Financials | 14.0% |
| Health Care | 9.6% |
| Consumer Discretionary | 9.3% |
| Industrials | 8.0% |
| Consumer Staples | 5.1% |
| Energy | 2.0% |
| Real Estate | 1.5% |
| Materials | 0.6% |
| Short-Term Investment Funds | 2.4% |
| Other Assets/Liabilities (Net) | (0.5)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFOAX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Focused Fund

#### CLASS C \| TFFCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Focused Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 1.90% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1406613266 |
| **Total number of portfolio holdings** | 48 |
| **Portfolio turnover rate** | 3% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 32.0% |
| Communication Services | 16.0% |
| Financials | 14.0% |
| Health Care | 9.6% |
| Consumer Discretionary | 9.3% |
| Industrials | 8.0% |
| Consumer Staples | 5.1% |
| Energy | 2.0% |
| Real Estate | 1.5% |
| Materials | 0.6% |
| Short-Term Investment Funds | 2.4% |
| Other Assets/Liabilities (Net) | (0.5)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFFCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Focused Fund

#### CLASS Y \| TFFYX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Focused Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 0.86% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1406613266 |
| **Total number of portfolio holdings** | 48 |
| **Portfolio turnover rate** | 3% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 32.0% |
| Communication Services | 16.0% |
| Financials | 14.0% |
| Health Care | 9.6% |
| Consumer Discretionary | 9.3% |
| Industrials | 8.0% |
| Consumer Staples | 5.1% |
| Energy | 2.0% |
| Real Estate | 1.5% |
| Materials | 0.6% |
| Short-Term Investment Funds | 2.4% |
| Other Assets/Liabilities (Net) | (0.5)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFFYX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Focused Fund

#### INSTITUTIONAL CLASS \| TFFIX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Focused Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $46 | 0.84% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1406613266 |
| **Total number of portfolio holdings** | 48 |
| **Portfolio turnover rate** | 3% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 32.0% |
| Communication Services | 16.0% |
| Financials | 14.0% |
| Health Care | 9.6% |
| Consumer Discretionary | 9.3% |
| Industrials | 8.0% |
| Consumer Staples | 5.1% |
| Energy | 2.0% |
| Real Estate | 1.5% |
| Materials | 0.6% |
| Short-Term Investment Funds | 2.4% |
| Other Assets/Liabilities (Net) | (0.5)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFFIX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Dynamic Large Cap Growth Fund

#### CLASS A \| TGVFX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Dynamic Large Cap Growth Fund ("Fund") (formerly Touchstone Growth Opportunities Fund) for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $62 | 1.07% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $159333871 |
| **Total number of portfolio holdings** | 72 |
| **Portfolio turnover rate** | 89% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 52.1% |
| Communication Services | 13.8% |
| Health Care | 11.5% |
| Consumer Discretionary | 11.1% |
| Industrials | 8.3% |
| Financials | 2.0% |
| Materials | 1.2% |
| Energy | 0.3% |
| Consumer Staples | 0.2% |
| Short-Term Investment Fund | 0.3% |
| Other Assets/Liabilities (Net) | (0.8)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TGVFX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Dynamic Large Cap Growth Fund

#### CLASS C \| TGVCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Dynamic Large Cap Growth Fund ("Fund") (formerly Touchstone Growth Opportunities Fund) for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 1.79% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $159333871 |
| **Total number of portfolio holdings** | 72 |
| **Portfolio turnover rate** | 89% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 52.1% |
| Communication Services | 13.8% |
| Health Care | 11.5% |
| Consumer Discretionary | 11.1% |
| Industrials | 8.3% |
| Financials | 2.0% |
| Materials | 1.2% |
| Energy | 0.3% |
| Consumer Staples | 0.2% |
| Short-Term Investment Fund | 0.3% |
| Other Assets/Liabilities (Net) | (0.8)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TGVCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Dynamic Large Cap Growth Fund

#### CLASS Y \| TGVYX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Dynamic Large Cap Growth Fund ("Fund") (formerly Touchstone Growth Opportunities Fund) for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $43 | 0.75% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $159333871 |
| **Total number of portfolio holdings** | 72 |
| **Portfolio turnover rate** | 89% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 52.1% |
| Communication Services | 13.8% |
| Health Care | 11.5% |
| Consumer Discretionary | 11.1% |
| Industrials | 8.3% |
| Financials | 2.0% |
| Materials | 1.2% |
| Energy | 0.3% |
| Consumer Staples | 0.2% |
| Short-Term Investment Fund | 0.3% |
| Other Assets/Liabilities (Net) | (0.8)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TGVYX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Dynamic Large Cap Growth Fund

#### INSTITUTIONAL CLASS \| TGVVX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Dynamic Large Cap Growth Fund ("Fund") (formerly Touchstone Growth Opportunities Fund) for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $40 | 0.69% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $159333871 |
| **Total number of portfolio holdings** | 72 |
| **Portfolio turnover rate** | 89% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 52.1% |
| Communication Services | 13.8% |
| Health Care | 11.5% |
| Consumer Discretionary | 11.1% |
| Industrials | 8.3% |
| Financials | 2.0% |
| Materials | 1.2% |
| Energy | 0.3% |
| Consumer Staples | 0.2% |
| Short-Term Investment Fund | 0.3% |
| Other Assets/Liabilities (Net) | (0.8)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TGVVX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Dynamic Large Cap Growth Fund

#### CLASS R6 \| TGVLX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Dynamic Large Cap Growth Fund ("Fund") (formerly Touchstone Growth Opportunities Fund) for the period May 9, 2025 (commencement of operations) to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. You can also request this information by contacting us at 800.543.0407.

Fund Expenses

---

| | |
|:---|:---|
| **Class** | **Costs paid as a percentage<br>of a $10,000 investment** |
| Class R6$33<sup>1</sup> | 0.58% |

---

 *<sup><sup>1</sup></sup>* *<sup>Based on operations for the period May 09, 2025 (commencement of operations) to September 30, 2025. Expenses for a full reporting period would be higher.</sup>* 

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $159333871 |
| **Total number of portfolio holdings** | 72 |
| **Portfolio turnover rate** | 89% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 52.1% |
| Communication Services | 13.8% |
| Health Care | 11.5% |
| Consumer Discretionary | 11.1% |
| Industrials | 8.3% |
| Financials | 2.0% |
| Materials | 1.2% |
| Energy | 0.3% |
| Consumer Staples | 0.2% |
| Short-Term Investment Fund | 0.3% |
| Other Assets/Liabilities (Net) | (0.8)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TGVLX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Mid Cap Growth Fund

#### CLASS A \| TEGAX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Mid Cap Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $69 | 1.22% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1421718635 |
| **Total number of portfolio holdings** | 55 |
| **Portfolio turnover rate** | 47% |

---

Graphical Representation of Holdings

 **Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Industrials | 24.1% |
| Information Technology | 17.7% |
| Health Care | 17.1% |
| Consumer Discretionary | 16.6% |
| Financials | 10.2% |
| Communication Services | 6.3% |
| Utilities | 2.5% |
| Energy | 1.8% |
| Materials | 1.7% |
| Short-Term Investment Fund | 2.1% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEGAX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Mid Cap Growth Fund

#### CLASS C \| TOECX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Mid Cap Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $113 | 2.01% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1421718635 |
| **Total number of portfolio holdings** | 55 |
| **Portfolio turnover rate** | 47% |

---

Graphical Representation of Holdings

 **Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Industrials | 24.1% |
| Information Technology | 17.7% |
| Health Care | 17.1% |
| Consumer Discretionary | 16.6% |
| Financials | 10.2% |
| Communication Services | 6.3% |
| Utilities | 2.5% |
| Energy | 1.8% |
| Materials | 1.7% |
| Short-Term Investment Fund | 2.1% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TOECX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Mid Cap Growth Fund

#### CLASS Y \| TEGYX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Mid Cap Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $56 | 0.99% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1421718635 |
| **Total number of portfolio holdings** | 55 |
| **Portfolio turnover rate** | 47% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Industrials | 24.1% |
| Information Technology | 17.7% |
| Health Care | 17.1% |
| Consumer Discretionary | 16.6% |
| Financials | 10.2% |
| Communication Services | 6.3% |
| Utilities | 2.5% |
| Energy | 1.8% |
| Materials | 1.7% |
| Short-Term Investment Fund | 2.1% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEGYX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Mid Cap Growth Fund

#### INSTITUTIONAL CLASS \| TEGIX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Mid Cap Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $50 | 0.88% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1421718635 |
| **Total number of portfolio holdings** | 55 |
| **Portfolio turnover rate** | 47% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Industrials | 24.1% |
| Information Technology | 17.7% |
| Health Care | 17.1% |
| Consumer Discretionary | 16.6% |
| Financials | 10.2% |
| Communication Services | 6.3% |
| Utilities | 2.5% |
| Energy | 1.8% |
| Materials | 1.7% |
| Short-Term Investment Fund | 2.1% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEGIX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Mid Cap Growth Fund

#### CLASS R6 \| TFGRX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Mid Cap Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $44 | 0.79% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1421718635 |
| **Total number of portfolio holdings** | 55 |
| **Portfolio turnover rate** | 47% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Industrials | 24.1% |
| Information Technology | 17.7% |
| Health Care | 17.1% |
| Consumer Discretionary | 16.6% |
| Financials | 10.2% |
| Communication Services | 6.3% |
| Utilities | 2.5% |
| Energy | 1.8% |
| Materials | 1.7% |
| Short-Term Investment Fund | 2.1% |
| Other Assets/Liabilities (Net) | (0.1)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TFGRX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Non-US Equity Fund

#### CLASS A \| TEQAX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Non-US Equity Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $62 | 1.14% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1111758621 |
| **Total number of portfolio holdings** | 50 |
| **Portfolio turnover rate** | 9% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Financials | 24.8% |
| Industrials | 19.2% |
| Information Technology | 13.2% |
| Communication Services | 11.7% |
| Consumer Discretionary | 9.4% |
| Materials | 6.9% |
| Health Care | 6.2% |
| Energy | 4.5% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;16.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;10.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;9.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;12.4% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEQAX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Non-US Equity Fund

#### CLASS C \| TEQCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Non-US Equity Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $104 | 1.92% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1111758621 |
| **Total number of portfolio holdings** | 50 |
| **Portfolio turnover rate** | 9% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Financials | 24.8% |
| Industrials | 19.2% |
| Information Technology | 13.2% |
| Communication Services | 11.7% |
| Consumer Discretionary | 9.4% |
| Materials | 6.9% |
| Health Care | 6.2% |
| Energy | 4.5% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;16.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;10.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;9.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;12.4% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEQCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Non-US Equity Fund

#### CLASS Y \| TIQIX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Non-US Equity Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 0.90% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1111758621 |
| **Total number of portfolio holdings** | 50 |
| **Portfolio turnover rate** | 9% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Financials | 24.8% |
| Industrials | 19.2% |
| Information Technology | 13.2% |
| Communication Services | 11.7% |
| Consumer Discretionary | 9.4% |
| Materials | 6.9% |
| Health Care | 6.2% |
| Energy | 4.5% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;16.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;10.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;9.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;12.4% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TIQIX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Non-US Equity Fund

#### INSTITUTIONAL CLASS \| TROCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Non-US Equity Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $47 | 0.86% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $1111758621 |
| **Total number of portfolio holdings** | 50 |
| **Portfolio turnover rate** | 9% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Financials | 24.8% |
| Industrials | 19.2% |
| Information Technology | 13.2% |
| Communication Services | 11.7% |
| Consumer Discretionary | 9.4% |
| Materials | 6.9% |
| Health Care | 6.2% |
| Energy | 4.5% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;16.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;10.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;9.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;12.4% |
| Short-Term Investment Funds | 4.4% |
| Other Assets/Liabilities (Net) | (0.3)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TROCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Sands Capital Emerging Markets Growth Fund

#### CLASS A \| TSMGX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $78 | 1.43% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2059395549 |
| **Total number of portfolio holdings** | 44 |
| **Portfolio turnover rate** | 19% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 25.4% |
| Financials | 23.3% |
| Consumer Discretionary | 22.8% |
| Consumer Staples | 8.7% |
| Communication Services | 8.3% |
| Industrials | 8.1% |
| Health Care | 1.4% |
| Real Estate | 1.3% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;20.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;15.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;12.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TSMGX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Sands Capital Emerging Markets Growth Fund

#### CLASS C \| TEGCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $116 | 2.13% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2059395549 |
| **Total number of portfolio holdings** | 44 |
| **Portfolio turnover rate** | 19% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 25.4% |
| Financials | 23.3% |
| Consumer Discretionary | 22.8% |
| Consumer Staples | 8.7% |
| Communication Services | 8.3% |
| Industrials | 8.1% |
| Health Care | 1.4% |
| Real Estate | 1.3% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;20.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;15.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;12.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TEGCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Sands Capital Emerging Markets Growth Fund

#### CLASS Y \| TSEMX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $63 | 1.15% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2059395549 |
| **Total number of portfolio holdings** | 44 |
| **Portfolio turnover rate** | 19% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 25.4% |
| Financials | 23.3% |
| Consumer Discretionary | 22.8% |
| Consumer Staples | 8.7% |
| Communication Services | 8.3% |
| Industrials | 8.1% |
| Health Care | 1.4% |
| Real Estate | 1.3% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;20.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;15.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;12.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TSEMX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Sands Capital Emerging Markets Growth Fund

#### INSTITUTIONAL CLASS \| TSEGX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $57 | 1.04% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2059395549 |
| **Total number of portfolio holdings** | 44 |
| **Portfolio turnover rate** | 19% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 25.4% |
| Financials | 23.3% |
| Consumer Discretionary | 22.8% |
| Consumer Staples | 8.7% |
| Communication Services | 8.3% |
| Industrials | 8.1% |
| Health Care | 1.4% |
| Real Estate | 1.3% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;20.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;15.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;12.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TSEGX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Sands Capital Emerging Markets Growth Fund

#### CLASS R6 \| TSRMX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Sands Capital Emerging Markets Growth Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $55 | 1.00% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $2059395549 |
| **Total number of portfolio holdings** | 44 |
| **Portfolio turnover rate** | 19% |

---

Graphical Representation of Holdings

**Sector Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Information Technology | 25.4% |
| Financials | 23.3% |
| Consumer Discretionary | 22.8% |
| Consumer Staples | 8.7% |
| Communication Services | 8.3% |
| Industrials | 8.1% |
| Health Care | 1.4% |
| Real Estate | 1.3% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

**Geographical Allocation (% of Net Assets)**

---

| | |
|:---|:---|
| Common Stocks |  |
| &nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;21.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;20.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;15.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;12.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;7.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| Short-Term Investment Fund | 1.9% |
| Other Assets/Liabilities (Net) | (1.2)% |
| Total | 100.0% |

---

Availability of Additional Information

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TSRMX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Strategic Income Fund

#### CLASS A \| TQPAX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Strategic Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 1.00% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298575784 |
| **Total number of portfolio holdings** | 196 |
| **Portfolio turnover rate** | 98% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 49.8% |
| U.S. Treasury Obligations | 18.6% |
| Asset-Backed Securities | 10.7% |
| Commercial Mortgage-Backed Securities | 7.4% |
| Non-Agency Collateralized Mortgage Obligations | 7.0% |
| Common Stocks | 2.1% |
| Sovereign Government Obligations | 0.5% |
| Rights | 0.0% |
| Short-Term Investment Funds | 4.1% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

#### Credit Quality\* (% of Fixed Income Securities)

---

| | |
|:---|:---|
| AAA/Aaa | 29.7% |
| AA/Aa | 6.2% |
| A/A | 11.1% |
| BBB/Baa | 33.7% |
| BB/Ba | 12.0% |
| B/B | 6.3% |
| CCC | 1.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TQPAX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Strategic Income Fund

#### CLASS C \| TQPCX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Strategic Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $88 | 1.71% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298575784 |
| **Total number of portfolio holdings** | 196 |
| **Portfolio turnover rate** | 98% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 49.8% |
| U.S. Treasury Obligations | 18.6% |
| Asset-Backed Securities | 10.7% |
| Commercial Mortgage-Backed Securities | 7.4% |
| Non-Agency Collateralized Mortgage Obligations | 7.0% |
| Common Stocks | 2.1% |
| Sovereign Government Obligations | 0.5% |
| Rights | 0.0% |
| Short-Term Investment Funds | 4.1% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 29.7% |
| AA/Aa | 6.2% |
| A/A | 11.1% |
| BBB/Baa | 33.7% |
| BB/Ba | 12.0% |
| B/B | 6.3% |
| CCC | 1.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TQPCX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Strategic Income Fund

#### CLASS Y \| TQPYX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Strategic Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | 0.75% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298575784 |
| **Total number of portfolio holdings** | 196 |
| **Portfolio turnover rate** | 98% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 49.8% |
| U.S. Treasury Obligations | 18.6% |
| Asset-Backed Securities | 10.7% |
| Commercial Mortgage-Backed Securities | 7.4% |
| Non-Agency Collateralized Mortgage Obligations | 7.0% |
| Common Stocks | 2.1% |
| Sovereign Government Obligations | 0.5% |
| Rights | 0.0% |
| Short-Term Investment Funds | 4.1% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 29.7% |
| AA/Aa | 6.2% |
| A/A | 11.1% |
| BBB/Baa | 33.7% |
| BB/Ba | 12.0% |
| B/B | 6.3% |
| CCC | 1.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TQPYX-2509

![TSR - Logo](tm2532197d1_tsrimg002.jpg)

#### Touchstone Strategic Income Fund

#### INSTITUTIONAL CLASS \| TQPIX

#### SEMI-ANNUAL SHAREHOLDER REPORT \| September 30, 2025
This semi-annual shareholder report contains important information about the Touchstone Strategic Income Fund ("Fund") for the period April 1, 2025 to September 30, 2025. You can find additional information about the Fund at touchstoneinvestments.com/mutual-funds. 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 | $33 | 0.65% |

---

Key Fund Statistics

---

| | |
|:---|:---|
| **Fund net assets** | $298575784 |
| **Total number of portfolio holdings** | 196 |
| **Portfolio turnover rate** | 98% |

---

Graphical Representation of Holdings

**Asset Category (% of Net Assets)**

---

| | |
|:---|:---|
| Corporate Bonds | 49.8% |
| U.S. Treasury Obligations | 18.6% |
| Asset-Backed Securities | 10.7% |
| Commercial Mortgage-Backed Securities | 7.4% |
| Non-Agency Collateralized Mortgage Obligations | 7.0% |
| Common Stocks | 2.1% |
| Sovereign Government Obligations | 0.5% |
| Rights | 0.0% |
| Short-Term Investment Funds | 4.1% |
| Other Assets/Liabilities (Net) | (0.2)% |
| Total | 100.0% |

---

**Credit Quality\* (% of Fixed Income Securities)**

---

| | |
|:---|:---|
| AAA/Aaa | 29.7% |
| AA/Aa | 6.2% |
| A/A | 11.1% |
| BBB/Baa | 33.7% |
| BB/Ba | 12.0% |
| B/B | 6.3% |
| CCC | 1.0% |
| 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

![TSR - QR Code - Mutual Fund](tm2532197d1_tsrimg001.jpg)

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at touchstoneinvestments.com/mutual-funds 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 touchstoneinvestments.com/Resources. You can also request this information by contacting us at 800.543.0407.

TSF-TST-SR-TQPIX-2509

&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.

September 30, 2025 (Unaudited)

## Semi-Annual

## Financial Statements

---

| |
|:---|
| **Touchstone Strategic Trust** |
| Touchstone Dynamic Large Cap Growth Fund (formerly Touchstone Growth Opportunities Fund) |
| Touchstone Flexible Income Fund |
| Touchstone Focused Fund |
| Touchstone Mid Cap Growth Fund |
| Touchstone Non-US Equity Fund |
| Touchstone Sands Capital Emerging Markets Growth Fund |
| Touchstone Strategic Income Fund |

---

![](tm2532197d1financialsi001.gif)

------

**Table of Contents**

---

| | |
|:---|:---|
|  | [Page](#xx_22bd1bf4-7218-42b7-9e38-b8e7fd7ff1fd_1) |
| [Portfolios of Investments:](#xx_3d47ce2b-161e-4063-baf9-f1127ea99119_1tm2532197d1_financials) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Dynamic Large Cap Growth Fund](#xx_3d47ce2b-161e-4063-baf9-f1127ea99119_1tm2532197d1_financials) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Flexible Income Fund](#xx_8059cd9f-d3d9-4b4b-ad0f-a8475c135bb7_1tm2532197d1_financials) | 4-10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Focused Fund](#xx_ce1bf9b9-2c40-4ae3-b05c-0f7b081d6052_1tm2532197d1_financials) | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Mid Cap Growth Fund](#xx_912fee4a-814a-43d8-9998-f46165e62fea_1tm2532197d1_financials) | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Non-US Equity Fund](#xx_6bc10ab9-36b3-4dab-9e0e-f2492fe51494_1tm2532197d1_financials) | 13-14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Sands Capital Emerging Markets Growth Fund](#xx_1b89ad9f-6f94-4528-a39c-4bfe7f44593c_1tm2532197d1_financials) | 15-16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Touchstone Strategic Income Fund](#xx_6263e449-df0a-4cb0-af08-5994160da006_1tm2532197d1_financials) | 17-21 |
| [Statements of Assets and Liabilities](#xx_6a9c02cd-f1b6-4b49-adfa-b721ebaabf56_1tm2532197d1_financials) | 22-23 |
| [Statements of Operations](#xx_a5673f00-1e5c-41e4-91d4-c7ef4458a86e_1tm2532197d1_financials) | 24-25 |
| [Statements of Changes in Net Assets](#xx_3b9106d5-f2b0-424c-9e3a-c92ae1657648_1tm2532197d1_financials) | 26-27 |
| [Statements of Changes in Net Assets - Capital Stock Activity](#xx_a396862e-73db-4b1d-8782-639fb3d037c9_1tm2532197d1_financials) | 28-31 |
| [Financial Highlights](#xx_f985403a-3819-4a76-9ea9-f6d73fa78633_1tm2532197d1_financials) | 32-38 |
| [Notes to Financial Statements](#xx_a25e7915-3266-4d08-9a5d-0862cba24328_1tm2532197d1_financials) | 39-53 |
| [Other Items](#xx_0b29fa4f-c55e-4063-81fe-b543ccafa1df_1tm2532197d1_financials) | 54 |

---

This report identifies the Funds' investments on September 30, 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_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Dynamic Large Cap Growth Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.5%** |  |
|  | &nbsp;&nbsp;**Information Technology — 52.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7693 | &nbsp;&nbsp;Advanced Micro Devices, Inc.\* | $1244650 |
| 22309 | &nbsp;&nbsp;Amphenol Corp. - Class A | &nbsp;&nbsp; 2760739 |
| 74998 | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp; 19096741 |
| &nbsp;&nbsp;&nbsp;&nbsp;1884 | &nbsp;&nbsp;AppLovin Corp. - Class A\* | &nbsp;&nbsp; 1353729 |
| 14297 | &nbsp;&nbsp;Arista Networks, Inc.\* | &nbsp;&nbsp; 2083216 |
| 24819 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 8188036 |
| &nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;Cloudflare, Inc. - Class A\* | &nbsp;&nbsp; 357507 |
| &nbsp;&nbsp;&nbsp;&nbsp;1874 | &nbsp;&nbsp;Dell Technologies, Inc. - Class C | &nbsp;&nbsp; 265677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;Fair Isaac Corp.\* | &nbsp;&nbsp; 573171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;Guidewire Software, Inc.\* | &nbsp;&nbsp; 228711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp;HubSpot, Inc.\* | &nbsp;&nbsp; 203961 |
| 33868 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 17541931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp; 271589 |
| 131270 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 24492357 |
| &nbsp;&nbsp;&nbsp;&nbsp;3114 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 875781 |
| 14560 | &nbsp;&nbsp;Palantir Technologies, Inc. - Class A\* | &nbsp;&nbsp; 2656035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;Pegasystems, Inc. | &nbsp;&nbsp; 24437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;Pure Storage, Inc. - Class A\* | &nbsp;&nbsp; 79787 |
| &nbsp;&nbsp;&nbsp;&nbsp;3354 | &nbsp;&nbsp;Snowflake, Inc. - Class A\* | &nbsp;&nbsp; 756495 |
|  |  | &nbsp;&nbsp; 83054550 |
|  | &nbsp;&nbsp;**Communication Services — 13.8%** |  |
| 11159 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 2717774 |
| 14623 | &nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp; 3554851 |
| 12939 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 9502143 |
| &nbsp;&nbsp;&nbsp;&nbsp;4530 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 5431108 |
| 26001 | &nbsp;&nbsp;Pinterest, Inc. - Class A\* | &nbsp;&nbsp; 836452 |
|  |  | &nbsp;&nbsp; 22042328 |
|  | &nbsp;&nbsp;**Health Care — 11.5%** |  |
| 16528 | &nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp; 3826893 |
| &nbsp;&nbsp;&nbsp;&nbsp;5890 | &nbsp;&nbsp;Apellis Pharmaceuticals, Inc.\* | &nbsp;&nbsp; 133291 |
| 12026 | &nbsp;&nbsp;DexCom, Inc.\* | &nbsp;&nbsp; 809230 |
| &nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp; 1228430 |
| 12865 | &nbsp;&nbsp;Exelixis, Inc.\* | &nbsp;&nbsp; 531325 |
| 25703 | &nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp; 2853033 |
| 25782 | &nbsp;&nbsp;Halozyme Therapeutics, Inc.\* | &nbsp;&nbsp; 1890852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;IDEXX Laboratories, Inc.\* | &nbsp;&nbsp; 304112 |
| 24603 | &nbsp;&nbsp;Incyte Corp.\* | &nbsp;&nbsp; 2086580 |
| &nbsp;&nbsp;&nbsp;&nbsp;2849 | &nbsp;&nbsp;Insmed, Inc.\* | &nbsp;&nbsp; 410284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp; 120516 |
| &nbsp;&nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;Medpace Holdings, Inc.\* | &nbsp;&nbsp; 695658 |
| &nbsp;&nbsp;&nbsp;&nbsp;3415 | &nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp; 286621 |
| &nbsp;&nbsp;&nbsp;&nbsp;9045 | &nbsp;&nbsp;Neurocrine Biosciences, Inc.\* | &nbsp;&nbsp; 1269737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;Penumbra, Inc.\* | &nbsp;&nbsp; 235081 |
| &nbsp;&nbsp;&nbsp;&nbsp;5367 | &nbsp;&nbsp;Veeva Systems, Inc. - Class A\* | &nbsp;&nbsp; 1598883 |
|  |  | &nbsp;&nbsp; 18280526 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 11.1%** |  |
| 31025 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 6812159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp; 2694236 |
| 53617 | &nbsp;&nbsp;Carnival Corp.\* | &nbsp;&nbsp; 1550068 |
| &nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;Carvana Co.\* | &nbsp;&nbsp; 784659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;Duolingo, Inc.\* | &nbsp;&nbsp; 255541 |
| &nbsp;&nbsp;&nbsp;&nbsp;6397 | &nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp; 1367359 |
| &nbsp;&nbsp;&nbsp;&nbsp;4266 | &nbsp;&nbsp;Grand Canyon Education, Inc.\* | &nbsp;&nbsp; 936472 |
| &nbsp;&nbsp;&nbsp;&nbsp;2552 | &nbsp;&nbsp;On Holding AG (Switzerland) - Class A\* | &nbsp;&nbsp; 108077 |
| &nbsp;&nbsp;&nbsp;&nbsp;1612 | &nbsp;&nbsp;Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 521611 |
| &nbsp;&nbsp;&nbsp;&nbsp;5832 | &nbsp;&nbsp;Tesla, Inc.\* | &nbsp;&nbsp; 2593607 |
|  |  | &nbsp;&nbsp; 17623789 |
|  | &nbsp;&nbsp;**Industrials — 8.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4474 | &nbsp;&nbsp;Armstrong World Industries, Inc. | &nbsp;&nbsp; 876949 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 100.5% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 8.3% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1259 | &nbsp;&nbsp;BWX Technologies, Inc. | $232122 |
| &nbsp;&nbsp;&nbsp;&nbsp;1371 | &nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp; 843028 |
| 14699 | &nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp; 4421753 |
| &nbsp;&nbsp;&nbsp;&nbsp;3195 | &nbsp;&nbsp;HEICO Corp. - Class A | &nbsp;&nbsp; 811818 |
| &nbsp;&nbsp;&nbsp;&nbsp;3783 | &nbsp;&nbsp;HEICO Corp. | &nbsp;&nbsp; 1221228 |
| &nbsp;&nbsp;&nbsp;&nbsp;5595 | &nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp; 1097907 |
| &nbsp;&nbsp;&nbsp;&nbsp;8071 | &nbsp;&nbsp;Leonardo DRS, Inc. | &nbsp;&nbsp; 366423 |
| 62331 | &nbsp;&nbsp;Lyft, Inc. - Class A\* | &nbsp;&nbsp; 1371905 |
| &nbsp;&nbsp;&nbsp;&nbsp;4837 | &nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp; 2041020 |
|  |  | &nbsp;&nbsp; 13284153 |
|  | &nbsp;&nbsp;**Financials — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7341 | &nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp; 287767 |
| &nbsp;&nbsp;&nbsp;&nbsp;4144 | &nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp; 420616 |
| 93049 | &nbsp;&nbsp;NU Holdings Ltd. (Brazil) - Class A\* | &nbsp;&nbsp; 1489715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;Popular, Inc. (Puerto Rico) | &nbsp;&nbsp; 79254 |
| &nbsp;&nbsp;&nbsp;&nbsp;2971 | &nbsp;&nbsp;Primerica, Inc. | &nbsp;&nbsp; 824720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;Tradeweb Markets, Inc. - Class A | &nbsp;&nbsp; 80017 |
|  |  | &nbsp;&nbsp; 3182089 |
|  | &nbsp;&nbsp;**Materials — 1.2%** |  |
| 26163 | &nbsp;&nbsp;Anglogold Ashanti PLC (United Kingdom) | &nbsp;&nbsp; 1840044 |
|  | &nbsp;&nbsp;**Energy — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5495 | &nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp; 287608 |
| &nbsp;&nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp; 153703 |
|  |  | &nbsp;&nbsp; 441311 |
|  | &nbsp;&nbsp;**Consumer Staples — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 24972 |
| &nbsp;&nbsp;&nbsp;&nbsp;3150 | &nbsp;&nbsp;Sprouts Farmers Market, Inc.\* | &nbsp;&nbsp; 342720 |
|  |  | &nbsp;&nbsp; 367692 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $160116482 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.3%** |  |
| 428462 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 428462 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.8%<br> (Cost $91,491,922)** | $160544944 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.8%)** | &nbsp;&nbsp;&nbsp; (1211073) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $159333871 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *PLC – Public Limited Company* |

---

#### 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* | *$160116482* | *$—* | *$—* | *$160116482* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*428462* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*428462* |
| *Total* | *$160544944* | *$—* | *$—* | *$160544944* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Flexible Income Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 31.7%** |  |
|  | &nbsp;&nbsp;**Financials — 12.9%** |  |
| $10101000 | &nbsp;&nbsp;Ally Financial, Inc., 6.646%, 1/17/40 | $10099225 |
| &nbsp;&nbsp; 15755000 | &nbsp;&nbsp;Ally Financial, Inc., Ser C, 4.700%<sup>(A)</sup> | &nbsp;&nbsp; 14519994 |
| &nbsp;&nbsp; 6738000 | &nbsp;&nbsp;Arch Capital Group Ltd., 3.635%, 6/30/50<sup>†</sup> | &nbsp;&nbsp; 5009937 |
| &nbsp;&nbsp; 12114000 | &nbsp;&nbsp;Athene Holding Ltd., 3.950%, 5/25/51 | &nbsp;&nbsp; 8826112 |
| &nbsp;&nbsp; 24232000 | &nbsp;&nbsp;Bank of America Corp., 1.197%, 10/24/26 | &nbsp;&nbsp; 24185301 |
| &nbsp;&nbsp; 13115000 | &nbsp;&nbsp;Bank of America Corp., 1.734%, 7/22/27 | &nbsp;&nbsp; 12853786 |
| &nbsp;&nbsp; 31971000 | &nbsp;&nbsp;Bank of America Corp., 5.080%, 1/20/27 | &nbsp;&nbsp; 32030619 |
| &nbsp;&nbsp; 7019000 | &nbsp;&nbsp;Bank of America Corp., Ser DD, 6.300%<sup>(A)</sup> | &nbsp;&nbsp; 7059458 |
| &nbsp;&nbsp; 4303000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 3.330%, 11/24/42 | &nbsp;&nbsp; 3321982 |
| &nbsp;&nbsp; 8735000 | &nbsp;&nbsp;Citigroup, Inc., 1.462%, 6/9/27 | &nbsp;&nbsp; 8569329 |
| &nbsp;&nbsp; 5187000 | &nbsp;&nbsp;Citigroup, Inc., Ser DD, 7.000%<sup>(A)</sup> | &nbsp;&nbsp; 5509929 |
| &nbsp;&nbsp; 6978000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.210%, 4/22/42 | &nbsp;&nbsp; 5392185 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.500%, 11/16/26 | &nbsp;&nbsp; 10929 |
| &nbsp;&nbsp; 3526000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), Ser Q, 7.379%<sup>(A)</sup> | &nbsp;&nbsp; 3560114 |
| &nbsp;&nbsp; 13799000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), Ser VAR, 1.093%, 12/9/26 | &nbsp;&nbsp; 13712327 |
| &nbsp;&nbsp; 25000000 | &nbsp;&nbsp;JPMorgan Chase & Co., 1.578%, 4/22/27 | &nbsp;&nbsp; 24634199 |
| &nbsp;&nbsp; 13112000 | &nbsp;&nbsp;Lincoln National Corp., Ser C, 9.250%<sup>(A)</sup> | &nbsp;&nbsp; 14095046 |
| &nbsp;&nbsp; 10774000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 9363654 |
| &nbsp;&nbsp; 10278000 | &nbsp;&nbsp;Nasdaq, Inc., 3.250%, 4/28/50 | &nbsp;&nbsp; 7154937 |
| &nbsp;&nbsp; 1963000 | &nbsp;&nbsp;UBS Group AG (Switzerland), 144a, 9.250%<sup>(A)</sup> | &nbsp;&nbsp; 2162309 |
| &nbsp;&nbsp; 6366000 | &nbsp;&nbsp;Wells Fargo & Co., 3.000%, 4/22/26 | &nbsp;&nbsp; 6329133 |
| &nbsp;&nbsp; 8246000 | &nbsp;&nbsp;Wells Fargo & Co., 3.000%, 10/23/26 | &nbsp;&nbsp; 8163515 |
|  |  | &nbsp;&nbsp; 226564020 |
|  | &nbsp;&nbsp;**Utilities — 7.4%** |  |
| &nbsp;&nbsp; 7339000 | &nbsp;&nbsp;American Electric Power Co., Inc., 3.250%, 3/1/50 | &nbsp;&nbsp; 4919491 |
| &nbsp;&nbsp; 876000 | &nbsp;&nbsp;American Electric Power Co., Inc., Ser C, 5.800%, 3/15/56 | &nbsp;&nbsp; 873813 |
| &nbsp;&nbsp; 10580000 | &nbsp;&nbsp;American Electric Power Co., Inc., Ser D, 6.050%, 3/15/56 | &nbsp;&nbsp; 10590887 |
| &nbsp;&nbsp; 6243000 | &nbsp;&nbsp;Berkshire Hathaway Energy Co., 2.850%, 5/15/51 | &nbsp;&nbsp; 3959179 |
| &nbsp;&nbsp; 17283000 | &nbsp;&nbsp;Dominion Energy, Inc., Ser A, 6.875%, 2/1/55 | &nbsp;&nbsp; 18075145 |
| &nbsp;&nbsp; 6840000 | &nbsp;&nbsp;Dominion Energy, Inc., Ser B, 7.000%, 6/1/54 | &nbsp;&nbsp; 7417091 |
| &nbsp;&nbsp; 12602000 | &nbsp;&nbsp;Duke Energy Corp., 3.300%, 6/15/41 | &nbsp;&nbsp; 9690775 |
| &nbsp;&nbsp; 13162000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., 6.375%, 8/15/55 | &nbsp;&nbsp; 13666195 |
| &nbsp;&nbsp; 9807000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., 6.500%, 8/15/55 | &nbsp;&nbsp; 10386780 |
| &nbsp;&nbsp; 11011000 | &nbsp;&nbsp;Pacific Gas and Electric Co., 3.500%, 8/1/50 | &nbsp;&nbsp; 7515259 |
| &nbsp;&nbsp; 25659000 | &nbsp;&nbsp;Sempra Energy, 4.875%<sup>(A)</sup> | &nbsp;&nbsp; 25650794 |
| &nbsp;&nbsp; 17307000 | &nbsp;&nbsp;Southern Co. (The), Ser 2025, 6.375%, 3/15/55 | &nbsp;&nbsp; 18442282 |
|  |  | &nbsp;&nbsp; 131187691 |
|  | &nbsp;&nbsp;**Energy — 5.0%** |  |
| &nbsp;&nbsp; 6502000 | &nbsp;&nbsp;BP Capital Markets America, Inc., 3.001%, 3/17/52 | &nbsp;&nbsp; 4231396 |
| &nbsp;&nbsp; 31650000 | &nbsp;&nbsp;BP Capital Markets PLC (United Kingdom), 4.875%<sup>(A)</sup> | &nbsp;&nbsp; 31425427 |
| &nbsp;&nbsp; 3553000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), 8.500%, 1/15/84 | &nbsp;&nbsp; 4063406 |
| &nbsp;&nbsp; 4593000 | &nbsp;&nbsp;Energy Transfer LP, Ser G, 7.125%<sup>(A)</sup> | &nbsp;&nbsp; 4745827 |
| &nbsp;&nbsp; 8735000 | &nbsp;&nbsp;Kinder Morgan, Inc., 3.250%, 8/1/50 | &nbsp;&nbsp; 5787600 |
| &nbsp;&nbsp; 4095000 | &nbsp;&nbsp;Occidental Petroleum Corp., 4.100%, 2/15/47 | &nbsp;&nbsp; 2930244 |
| &nbsp;&nbsp; 674000 | &nbsp;&nbsp;Occidental Petroleum Corp., 4.200%, 3/15/48 | &nbsp;&nbsp; 494605 |
| &nbsp;&nbsp; 1083000 | &nbsp;&nbsp;Occidental Petroleum Corp., 4.400%, 4/15/46 | &nbsp;&nbsp; 851111 |
| &nbsp;&nbsp; 2366000 | &nbsp;&nbsp;Occidental Petroleum Corp., 4.500%, 7/15/44 | &nbsp;&nbsp; 1879172 |
| &nbsp;&nbsp; 17891000 | &nbsp;&nbsp;Phillips 66 Co., Ser B, 6.200%, 3/15/56 | &nbsp;&nbsp; 17941631 |
| &nbsp;&nbsp; 7712000 | &nbsp;&nbsp;Valero Energy Corp., 3.650%, 12/1/51 | &nbsp;&nbsp; 5414806 |
| &nbsp;&nbsp; 10810000 | &nbsp;&nbsp;Williams Cos., Inc. (The), 3.500%, 10/15/51 | &nbsp;&nbsp; 7679981 |
|  |  | &nbsp;&nbsp; 87445206 |
|  | &nbsp;&nbsp;**Real Estate — 1.9%** |  |
| &nbsp;&nbsp; 7273000 | &nbsp;&nbsp;American Tower Corp. REIT, 2.950%, 1/15/51 | &nbsp;&nbsp; 4710699 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
| $20264000 | $20742980 |
| &nbsp;&nbsp; 10913000 | &nbsp;&nbsp; 7648029 |
|  | &nbsp;&nbsp; 33101708 |
| &nbsp;&nbsp; 11880000 | &nbsp;&nbsp; 8491468 |
| &nbsp;&nbsp; 10515000 | &nbsp;&nbsp; 8443472 |
| &nbsp;&nbsp; 10379000 | &nbsp;&nbsp; 7131478 |
|  | &nbsp;&nbsp; 24066418 |
| &nbsp;&nbsp; 6113000 | &nbsp;&nbsp; 4278039 |
| &nbsp;&nbsp; 10201000 | &nbsp;&nbsp; 7441085 |
| &nbsp;&nbsp; 11884000 | &nbsp;&nbsp; 7578853 |
|  | &nbsp;&nbsp; 19297977 |
| &nbsp;&nbsp; 2676000 | &nbsp;&nbsp; 2112944 |
| &nbsp;&nbsp; 9150000 | &nbsp;&nbsp; 6518826 |
|  | &nbsp;&nbsp; 8631770 |
| &nbsp;&nbsp; 12643000 | &nbsp;&nbsp; 8473766 |
| &nbsp;&nbsp; 12236000 | &nbsp;&nbsp; 7945217 |
| &nbsp;&nbsp; 10940000 | &nbsp;&nbsp; 7210211 |
| &nbsp;&nbsp; 5783000 | &nbsp;&nbsp; 4167138 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;$558091122 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%** |
| &nbsp;&nbsp; 171298 &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2013-1, Class A1, 144a, 3.500%, 7/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 159957 |
| &nbsp;&nbsp; 1703566 &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-2, Class B2, 144a, 3.616%, 3/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 1589400 |
| &nbsp;&nbsp; 564940 &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-5, Class A3, 144a, 3.500%, 7/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 522262 |
| &nbsp;&nbsp; 591062 &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-7, Class A3, 144a, 3.500%, 10/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 543835 |
| &nbsp;&nbsp; 601389 &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2016-3, Class A3, 144a, 3.500%, 8/25/46<sup>(B)(C)</sup> | &nbsp;&nbsp; 549513 |
| &nbsp;&nbsp; 44497 &nbsp;&nbsp;Bear Stearns Asset Backed Securities Trust, Ser 2003-AC7, Class A2, 5.750%, 1/25/34<sup>(B)(C)</sup> | &nbsp;&nbsp; 37043 |
| &nbsp;&nbsp; 1979660 &nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2019-ATR1, Class B3, 144a, 4.394%, 4/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 1851511 |
| &nbsp;&nbsp; 18702304 &nbsp;&nbsp;Chase Mortgage Finance Corp., Ser 2021-CL1, Class M1, 144a, (SOFR30A + 1.200%), 5.556%, 2/25/50<sup>(B)</sup> | &nbsp;&nbsp; 18461069 |
| &nbsp;&nbsp; 1933117 &nbsp;&nbsp;Chase Mortgage Finance Corp., Ser 2021-CL1, Class M2, 144a, (SOFR30A + 1.350%), 5.706%, 2/25/50<sup>(B)</sup> | &nbsp;&nbsp; 1887926 |
| &nbsp;&nbsp; 572284 &nbsp;&nbsp;CIM Trust, Ser 2018-INV1, Class A4, 144a, 4.000%, 8/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 536683 |
| &nbsp;&nbsp; 625208 &nbsp;&nbsp;CIM Trust, Ser 2019-INV2, Class A15, 144a, 4.000%, 5/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 591216 |
| &nbsp;&nbsp; 7919108 &nbsp;&nbsp;CIM Trust, Ser 2020-J1, Class A2, 144a, 2.500%, 10/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 6626560 |
| &nbsp;&nbsp; 1873588 &nbsp;&nbsp;CIM Trust, Ser 2020-J2, Class A1, 144a, 2.500%, 1/25/51<sup>(B)(C)</sup> | &nbsp;&nbsp; 1551220 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** |
| $9164525 &nbsp;&nbsp;Connecticut Avenue Securities Trust, Ser 2019-HRP1, Class B1, 144a, (SOFR30A + 9.364%), 13.721%, 11/25/39<sup>(B)</sup> | $9806598 |
| &nbsp;&nbsp; 16000000 &nbsp;&nbsp;Connecticut Avenue Securities Trust, Ser 2020-SBT1, Class 2B1, 144a, (SOFR30A + 6.714%), 11.071%, 2/25/40<sup>(B)</sup> | &nbsp;&nbsp; 16913451 |
| &nbsp;&nbsp; 3419777 &nbsp;&nbsp;Connecticut Avenue Securities Trust, Ser 2022-R01, Class 1M1, 144a, (SOFR30A + 1.000%), 5.356%, 12/25/41<sup>(B)</sup> | &nbsp;&nbsp; 3416563 |
| &nbsp;&nbsp; 716562 &nbsp;&nbsp;CSMC Trust, Ser 2013-6, Class 2A1, 144a, 3.500%, 8/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 665925 |
| &nbsp;&nbsp; 353199 &nbsp;&nbsp;CSMC Trust, Ser 2013-7, Class A6, 144a, 3.500%, 8/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 327806 |
| &nbsp;&nbsp; 2934159 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR1, Class A1, 144a, 2.500%, 3/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2618335 |
| &nbsp;&nbsp; 2158886 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR1, Class A2, 144a, 3.000%, 3/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1973024 |
| &nbsp;&nbsp; 1158287 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR2, Class A1, 144a, 2.500%, 4/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1020467 |
| &nbsp;&nbsp; 2107977 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR3, Class A1, 144a, 2.500%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1871848 |
| &nbsp;&nbsp; 2762533 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR3, Class A2, 144a, 3.000%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2514607 |
| &nbsp;&nbsp; 4850434 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR4, Class A11, 144a, 3.493%, 7/27/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 4524195 |
| &nbsp;&nbsp; 471947 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR4, Class A12, 144a, 3.493%, 7/27/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 440204 |
| &nbsp;&nbsp; 271624 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR4, Class A2, 144a, 3.000%, 7/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 247429 |
| &nbsp;&nbsp; 4471165 &nbsp;&nbsp;CSMC Trust, Ser 2013-IVR5, Class A3, 144a, 3.500%, 10/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 4164254 |
| &nbsp;&nbsp; 2632049 &nbsp;&nbsp;CSMC Trust, Ser 2013-TH1, Class A1, 144a, 2.130%, 2/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2309321 |
| &nbsp;&nbsp; 1045096 &nbsp;&nbsp;CSMC Trust, Ser 2014-IVR3, Class B4, 144a, 3.995%, 7/25/44<sup>(B)(C)</sup> | &nbsp;&nbsp; 943611 |
| &nbsp;&nbsp; 1588749 &nbsp;&nbsp;CSMC Trust, Ser 2017-HL2, Class A1, 144a, 3.500%, 10/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1437333 |
| &nbsp;&nbsp; 3965565 &nbsp;&nbsp;CSMC Trust, Ser 2018-J1, Class A2, 144a, 3.500%, 2/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 3569173 |
| &nbsp;&nbsp; 565824 &nbsp;&nbsp;CSMLT Trust, Ser 2015-2, Class A7, 144a, 3.500%, 8/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 522971 |
| &nbsp;&nbsp; 1947850 &nbsp;&nbsp;EverBank Mortgage Loan Trust, Ser 2013-1, Class B4, 144a, 3.518%, 3/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1600336 |
| &nbsp;&nbsp; 1918769 &nbsp;&nbsp;EverBank Mortgage Loan Trust, Ser 2013-2, Class A, 144a, 3.000%, 6/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1792757 |
| &nbsp;&nbsp; 5697331 &nbsp;&nbsp;Fannie Mae Connecticut Avenue Securities, Ser 2016-C02, Class 1B, (SOFR30A + 12.364%), 16.721%, 9/25/28<sup>(B)</sup> | &nbsp;&nbsp; 5966656 |
| &nbsp;&nbsp; 4713475 &nbsp;&nbsp;Fannie Mae Connecticut Avenue Securities, Ser 2016-C04, Class 1B, (SOFR30A + 10.364%), 14.721%, 1/25/29<sup>(B)</sup> | &nbsp;&nbsp; 5011667 |
| &nbsp;&nbsp; 6483179 &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2018-1, Class A13, 144a, 3.500%, 3/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 5866364 |
| &nbsp;&nbsp; 8432053 &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2018-2, Class A14, 144a, 3.500%, 4/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 7551876 |
| &nbsp;&nbsp; 6066941 &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2018-3INV, Class A9, 144a, 4.000%, 5/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 5632406 |
| &nbsp;&nbsp; 812650 &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2018-4, Class B2, 144a, 4.133%, 7/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 756043 |
| &nbsp;&nbsp; 1304770 &nbsp;&nbsp;Freddie Mac Seasoned Credit Risk Transfer Trust, Ser 2017-4, Class M, 144a, 4.750%, 6/25/57<sup>(B)(C)</sup> | &nbsp;&nbsp; 1290149 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** |
| $389482 &nbsp;&nbsp;Freddie Mac Seasoned Credit Risk Transfer Trust Series, Ser 2017-2, Class M1, 144a, 4.000%, 8/25/56<sup>(B)(C)</sup> | $387820 |
| &nbsp;&nbsp; 16250000 &nbsp;&nbsp;Freddie Mac Seasoned Credit Risk Transfer Trust Series, Ser 2017-2, Class M2, 144a, 4.000%, 8/25/56<sup>(B)(C)</sup> | &nbsp;&nbsp; 15567417 |
| &nbsp;&nbsp; 5823704 &nbsp;&nbsp;Freddie Mac Seasoned Credit Risk Transfer Trust Series, Ser 2018-1, Class M, 4.750%, 5/25/57<sup>(B)(C)</sup> | &nbsp;&nbsp; 5721731 |
| &nbsp;&nbsp; 3046123 &nbsp;&nbsp;Freddie Mac STACR Debt Notes, Ser 2015-DNA3, Class B, (SOFR30A + 9.464%), 13.821%, 4/25/28<sup>(B)</sup> | &nbsp;&nbsp; 3061047 |
| &nbsp;&nbsp; 840267 &nbsp;&nbsp;Freddie Mac STACR Debt Notes, Ser 2017-HQA3, Class M2B, (SOFR30A + 2.464%), 6.821%, 4/25/30<sup>(B)</sup> | &nbsp;&nbsp; 854315 |
| &nbsp;&nbsp; 2690888 &nbsp;&nbsp;Freddie Mac STACR REMIC Trust, Ser 2021-DNA7, Class M1, 144a, (SOFR30A + 0.850%), 5.206%, 11/25/41<sup>(B)</sup> | &nbsp;&nbsp; 2689238 |
| &nbsp;&nbsp; 1445128 &nbsp;&nbsp;Freddie Mac STACR REMIC Trust, Ser 2022-DNA2, Class M1A, 144a, (SOFR30A + 1.300%), 5.656%, 2/25/42<sup>(B)</sup> | &nbsp;&nbsp; 1445124 |
| &nbsp;&nbsp; 6599586 &nbsp;&nbsp;Freddie Mac STACR Securitized Participation Interests Trust, Ser 2018-SPI4, Class B, 144a, 4.511%, 11/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 4829388 |
| &nbsp;&nbsp; 2513266 &nbsp;&nbsp;Galton Funding Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.950%, 7/25/56<sup>(B)(C)</sup> | &nbsp;&nbsp; 2391755 |
| &nbsp;&nbsp; 2511208 &nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ2, Class A1, 144a, 3.500%, 7/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 2259401 |
| &nbsp;&nbsp; 1578444 &nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ4, Class A2, 144a, 3.000%, 1/25/51<sup>(B)(C)</sup> | &nbsp;&nbsp; 1364568 |
| &nbsp;&nbsp; 9069868 &nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ5, Class A2, 144a, 3.000%, 3/27/51<sup>(B)(C)</sup> | &nbsp;&nbsp; 7841664 |
| &nbsp;&nbsp; 99267 &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2014-EB1A, Class 2A4, 144a, 6.133%, 7/25/44<sup>(B)(C)</sup> | &nbsp;&nbsp; 98644 |
| &nbsp;&nbsp; 3046546 &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2020-INV1, Class A14, 144a, 2.907%, 10/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 2633478 |
| &nbsp;&nbsp; 1134116 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2013-3, Class A3, 144a, 3.361%, 7/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1065817 |
| &nbsp;&nbsp; 2981500 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2014-IVR6, Class B4, 144a, 5.811%, 7/25/44<sup>(B)(C)</sup> | &nbsp;&nbsp; 3084731 |
| &nbsp;&nbsp; 1592247 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2016-1, Class A13, 144a, 3.500%, 5/25/46<sup>(B)(C)</sup> | &nbsp;&nbsp; 1454449 |
| &nbsp;&nbsp; 1579821 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-1, Class A8, 144a, 3.446%, 1/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1422270 |
| &nbsp;&nbsp; 313897 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-2, Class A3, 144a, 3.500%, 5/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 284083 |
| &nbsp;&nbsp; 1062330 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-3, Class 1A13, 144a, 3.500%, 8/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 959555 |
| &nbsp;&nbsp; 2025979 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-3, Class 1A3, 144a, 3.500%, 8/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1839944 |
| &nbsp;&nbsp; 2464595 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-3, Class A1, 144a, 3.500%, 9/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 2219388 |
| &nbsp;&nbsp; 1923740 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-5, Class A13, 144a, 3.500%, 10/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 1728852 |
| &nbsp;&nbsp; 827600 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-5, Class A4, 144a, 3.000%, 10/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 731017 |
| &nbsp;&nbsp; 3448948 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-5, Class B4, 144a, 3.691%, 10/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 3134741 |
| &nbsp;&nbsp; 3007512 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-6, Class 1A7, 144a, 3.500%, 12/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 2712495 |
| &nbsp;&nbsp; 4634832 &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-7, Class B2A, 144a, 2.953%, 2/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 4052505 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** |
| $536550 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-INV2, Class A15, 144a, 3.500%, 2/25/50<sup>(B)(C)</sup> | $485841 |
| &nbsp;&nbsp; 638595 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-INV2, Class B2A, 144a, 3.460%, 2/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 570141 |
| &nbsp;&nbsp; 1772721 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-1, Class A15, 144a, 3.500%, 6/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 1593599 |
| &nbsp;&nbsp; 255432 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-1, Class A5A, 144a, 3.000%, 6/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 222263 |
| &nbsp;&nbsp; 298279 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-2, Class A5A, 144a, 3.000%, 7/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 258202 |
| &nbsp;&nbsp; 2359004 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-5, Class A5, 144a, 3.000%, 12/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 2041660 |
| &nbsp;&nbsp; 782354 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-7, Class A15, 144a, 3.000%, 1/25/51<sup>(B)(C)</sup> | &nbsp;&nbsp; 679189 |
| &nbsp;&nbsp; 13284417 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-7, Class A3, 144a, 3.000%, 1/25/51<sup>(B)(C)</sup> | &nbsp;&nbsp; 11523320 |
| &nbsp;&nbsp; 971430 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B1, 144a, 4.012%, 11/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 888590 |
| &nbsp;&nbsp; 1352966 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B3, 144a, 4.012%, 11/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 1209925 |
| &nbsp;&nbsp; 268576 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2022-3, Class A12, 144a, 3.000%, 8/25/52<sup>(B)(C)</sup> | &nbsp;&nbsp; 258464 |
| &nbsp;&nbsp; 11989422 | &nbsp;&nbsp;JPMorgan Chase Bank NA - CHASE, Ser 2020-CL1, Class M1, 144a, (TSFR1M + 2.364%), 6.522%, 10/25/57<sup>(B)</sup> | &nbsp;&nbsp; 12346948 |
| &nbsp;&nbsp; 1862678 | &nbsp;&nbsp;JPMorgan Chase Bank NA - JPMWM, Ser 2021-CL1, Class M1, 144a, (SOFR30A + 1.300%), 5.656%, 3/25/51<sup>(B)</sup> | &nbsp;&nbsp; 1845516 |
| &nbsp;&nbsp; 6465478 | &nbsp;&nbsp;JPMorgan Chase Bank NA - JPMWM, Ser 2021-CL1, Class M2, 144a, (SOFR30A + 1.550%), 5.906%, 3/25/51<sup>(B)</sup> | &nbsp;&nbsp; 6383828 |
| &nbsp;&nbsp; 3033578 | &nbsp;&nbsp;JPMorgan Chase Bank NA - JPMWM, Ser 2021-CL1, Class M3, 144a, (SOFR30A + 1.800%), 6.156%, 3/25/51<sup>(B)</sup> | &nbsp;&nbsp; 3013755 |
| &nbsp;&nbsp; 2549461 | &nbsp;&nbsp;JPMorgan Wealth Management, Ser 2020-ATR1, Class A3, 144a, 3.000%, 2/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 2235798 |
| &nbsp;&nbsp; 3058 | &nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust, Ser 2003-A1, Class 2A, (TSFR12M + 2.340%), 6.099%, 12/25/32<sup>(B)</sup> | &nbsp;&nbsp; 3064 |
| &nbsp;&nbsp; 46413 | &nbsp;&nbsp;Morgan Stanley Mortgage Loan Trust, Ser 2004-7AR, Class 2A6, 5.511%, 9/25/34<sup>(B)(C)</sup> | &nbsp;&nbsp; 45939 |
| &nbsp;&nbsp; 1113759 | &nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2015-1A, Class B3, 144a, 5.179%, 5/28/52<sup>(B)(C)</sup> | &nbsp;&nbsp; 1107118 |
| &nbsp;&nbsp; 3008430 | &nbsp;&nbsp;NRP Mortgage Trust, Ser 2013-1, Class A1, 144a, 3.250%, 7/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2739848 |
| &nbsp;&nbsp; 1254719 | &nbsp;&nbsp;OBX Trust, Ser 2018-EXP1, Class B1A, 144a, 5.721%, 4/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 1286615 |
| &nbsp;&nbsp; 1803478 | &nbsp;&nbsp;PMT Loan Trust, Ser 2013-J1, Class A1, 144a, 3.500%, 9/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1678028 |
| &nbsp;&nbsp; 1082087 | &nbsp;&nbsp;PMT Loan Trust, Ser 2013-J1, Class A8, 144a, 3.000%, 9/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 982152 |
| &nbsp;&nbsp; 4826092 | &nbsp;&nbsp;Provident Funding Mortgage Trust, Ser 2019-1, Class B1, 144a, 3.172%, 12/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 4169948 |
| &nbsp;&nbsp; 742716 | &nbsp;&nbsp;PSMC Trust, Ser 2020-3, Class A11, 144a, 3.000%, 11/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 727218 |
| &nbsp;&nbsp; 9703 | &nbsp;&nbsp;RALI Series Trust, Ser 2004-QS6, Class A1, 5.000%, 5/25/19 | &nbsp;&nbsp; 8464 |
| &nbsp;&nbsp; 804532 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2004-3, Class M1, (TSFR1M + 0.864%), 5.000%, 5/20/34<sup>(B)</sup> | &nbsp;&nbsp; 844911 |
| &nbsp;&nbsp; 1461649 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-10, Class A1, 144a, 3.500%, 8/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1360290 |
| &nbsp;&nbsp; 2445497 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-11, Class A1, 144a, 3.500%, 9/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2300091 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** |
| $1560705 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-2, Class A, 1.874%, 2/25/43<sup>(B)(C)</sup> | $1344736 |
| &nbsp;&nbsp; 2390189 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-3, Class A2, 2.500%, 3/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2091778 |
| &nbsp;&nbsp; 2878853 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-4, Class A1, 2.325%, 4/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2499440 |
| &nbsp;&nbsp; 1873858 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-5, Class A1, 144a, 2.500%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1644859 |
| &nbsp;&nbsp; 3826221 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-5, Class A2, 144a, 3.000%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 3448162 |
| &nbsp;&nbsp; 4978284 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-6, Class A1, 2.500%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 4384995 |
| &nbsp;&nbsp; 4143823 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-6, Class A2, 3.000%, 5/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 3744974 |
| &nbsp;&nbsp; 1510359 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-7, Class A1, 2.500%, 6/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1323753 |
| &nbsp;&nbsp; 3287936 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-7, Class A2, 3.000%, 6/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2966418 |
| &nbsp;&nbsp; 1548440 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-8, Class A1, 3.000%, 6/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 1401878 |
| &nbsp;&nbsp; 2287271 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-9, Class A1, 144a, 3.500%, 7/25/43<sup>(B)(C)</sup> | &nbsp;&nbsp; 2100844 |
| &nbsp;&nbsp; 36839 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2014-4, Class A6, 144a, 3.500%, 11/25/44<sup>(B)(C)</sup> | &nbsp;&nbsp; 34047 |
| &nbsp;&nbsp; 2348457 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2015-2, Class A1, 144a, 3.500%, 5/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 2162817 |
| &nbsp;&nbsp; 591299 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2015-2, Class A13, 144a, 3.500%, 5/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 544558 |
| &nbsp;&nbsp; 1852162 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2015-2, Class B2, 144a, 3.755%, 5/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 1791430 |
| &nbsp;&nbsp; 1128529 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2015-3, Class B1, 144a, 3.726%, 7/25/45<sup>(B)(C)</sup> | &nbsp;&nbsp; 1108194 |
| &nbsp;&nbsp; 1383664 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2016-1, Class B1, 144a, 3.773%, 6/25/46<sup>(B)(C)</sup> | &nbsp;&nbsp; 1342600 |
| &nbsp;&nbsp; 4593379 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-1, Class A1, 144a, 3.500%, 2/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 4175673 |
| &nbsp;&nbsp; 943687 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-3, Class A1, 144a, 3.500%, 4/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 856644 |
| &nbsp;&nbsp; 1317439 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-5, Class A1, 144a, 3.500%, 8/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1193643 |
| &nbsp;&nbsp; 1419370 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-5, Class B2, 144a, 3.786%, 8/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1337952 |
| &nbsp;&nbsp; 1410960 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-6, Class B2, 144a, 3.726%, 9/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1338665 |
| &nbsp;&nbsp; 1459508 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-7, Class B2, 144a, 3.724%, 10/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 1374537 |
| &nbsp;&nbsp; 3434003 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-2, Class B1, 144a, 3.746%, 2/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 3229358 |
| &nbsp;&nbsp; 2400280 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-2, Class B2, 144a, 3.746%, 2/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 2244079 |
| &nbsp;&nbsp; 1972689 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-5, Class A7, 144a, 3.500%, 5/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 1791425 |
| &nbsp;&nbsp; 2249000 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2018-6, Class B4, 144a, 4.165%, 7/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 1780430 |
| &nbsp;&nbsp; 419304 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-2, Class A1, 144a, 4.000%, 6/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 396648 |
| &nbsp;&nbsp; 438275 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-4, Class A1, 144a, 3.500%, 11/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 398769 |
| &nbsp;&nbsp; 1157679 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-CH3, Class A13, 144a, 4.000%, 9/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 1088861 |
| &nbsp;&nbsp; 6164649 &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2020-1, Class A7, 144a, 3.500%, 2/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 5610203 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 20.3%<br> (Continued)** |
| $91899 &nbsp;&nbsp;TIAA Bank Mortgage Loan Trust, Ser 2018-2, Class A1, 144a, 3.500%, 7/25/48<sup>(B)(C)</sup> | $83562 |
| &nbsp;&nbsp; 760772 &nbsp;&nbsp;TIAA Bank Mortgage Loan Trust, Ser 2018-2, Class B2, 144a, 3.658%, 7/25/48<sup>(B)(C)</sup> | &nbsp;&nbsp; 696312 |
| &nbsp;&nbsp; 403099 &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities, Ser 2018-1, Class A1, 144a, 3.500%, 7/25/47<sup>(B)(C)</sup> | &nbsp;&nbsp; 371273 |
| &nbsp;&nbsp; 404042 &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2020-1, Class A5, 144a, 3.000%, 12/25/49<sup>(B)(C)</sup> | &nbsp;&nbsp; 350337 |
| &nbsp;&nbsp; 6704605 &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2020-3, Class A1, 144a, 3.000%, 6/25/50<sup>(B)(C)</sup> | &nbsp;&nbsp; 5835367 |
| &nbsp;&nbsp; 10815656 &nbsp;&nbsp;Western Alliance Bank, Ser 2021-CL2, Class M1, 144a, (SOFR30A + 3.150%), 7.506%, 7/25/59<sup>(B)</sup> | &nbsp;&nbsp; 11394873 |
| &nbsp;&nbsp; 8814333 &nbsp;&nbsp;Western Alliance Bank, Ser 2021-CL2, Class M3, 144a, (SOFR30A + 4.100%), 8.456%, 7/25/59<sup>(B)</sup> | &nbsp;&nbsp; 9326136 |
| &nbsp;&nbsp; 568586 &nbsp;&nbsp;WinWater Mortgage Loan Trust, Ser 2014-1, Class A9, 144a, 3.500%, 6/20/44<sup>(B)(C)</sup> | &nbsp;&nbsp; 541045 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;$357661001 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%** |
| &nbsp;&nbsp; 4964000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K095, Class XAM, 1.368%, 6/25/29<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 215459 |
| &nbsp;&nbsp; 55670496 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K109, Class X1, 1.685%, 4/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3246147 |
| &nbsp;&nbsp; 35198224 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class X1, 1.756%, 4/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2117451 |
| &nbsp;&nbsp; 7005157 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class X3, 3.490%, 6/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 927105 |
| &nbsp;&nbsp; 28800000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K110, Class XAM, 1.954%, 4/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2125555 |
| &nbsp;&nbsp; 34889040 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class X1, 1.674%, 5/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2117259 |
| &nbsp;&nbsp; 19436545 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class X3, 3.287%, 4/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2510556 |
| &nbsp;&nbsp; 35663000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K111, Class XAM, 1.907%, 5/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2664946 |
| &nbsp;&nbsp;113695142 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class X1, 1.532%, 5/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 6248298 |
| &nbsp;&nbsp; 15300000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class X3, 3.108%, 7/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1884619 |
| &nbsp;&nbsp; 10630000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K112, Class XAM, 1.769%, 5/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 733606 |
| &nbsp;&nbsp; 10743000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K113, Class XAM, 1.685%, 6/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 707962 |
| &nbsp;&nbsp; 19500000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K114, Class X3, 2.829%, 8/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2104900 |
| &nbsp;&nbsp; 21702896 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K115, Class X3, 3.056%, 9/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2572909 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%<br> (Continued)** |
| $26000000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K116, Class X3, 3.122%, 9/25/47<sup>(B)(C)(D)</sup> | $3215724 |
| &nbsp;&nbsp; 39700000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K117, Class XAM, 1.529%, 9/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2461904 |
| &nbsp;&nbsp; 24368853 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K118, Class X3, 2.785%, 10/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2720020 |
| &nbsp;&nbsp; 4900000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K119, Class X3, 2.822%, 9/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 576126 |
| &nbsp;&nbsp; 11576808 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K120, Class X3, 2.835%, 11/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1342094 |
| &nbsp;&nbsp;147426533 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K121, Class X1, 1.111%, 10/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 6040655 |
| &nbsp;&nbsp; 16073000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K121, Class X3, 2.868%, 11/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1947692 |
| &nbsp;&nbsp; 9700000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K122, Class X3, 2.721%, 1/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1090856 |
| &nbsp;&nbsp; 7569056 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K123, Class X3, 2.717%, 2/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 862396 |
| &nbsp;&nbsp; 9255000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K124, Class X3, 2.710%, 2/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1067065 |
| &nbsp;&nbsp; 16150000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K125, Class X3, 2.743%, 2/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1913257 |
| &nbsp;&nbsp; 38058448 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K127, Class X3, 2.742%, 3/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4519467 |
| &nbsp;&nbsp; 18230000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K128, Class X3, 2.877%, 4/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2295465 |
| &nbsp;&nbsp; 10595456 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K130, Class X3, 3.203%, 8/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1574884 |
| &nbsp;&nbsp; 41864611 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K130, Class XAM, 1.321%, 7/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2584407 |
| &nbsp;&nbsp; 10451281 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K131, Class X3, 3.048%, 9/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1490019 |
| &nbsp;&nbsp; 29501666 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K132, Class X3, 2.986%, 8/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4172332 |
| &nbsp;&nbsp; 9413138 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K134, Class X3, 2.752%, 10/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1252639 |
| &nbsp;&nbsp;217533829 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class X1, 0.491%, 12/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3781565 |
| &nbsp;&nbsp; 21000000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class X3, 2.922%, 12/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3005564 |
| &nbsp;&nbsp; 96839687 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K136, Class XAM, 0.664%, 12/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2848801 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%<br> (Continued)** |
| $20601000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K137, Class X3, 2.977%, 1/25/49<sup>(B)(C)(D)</sup> | $3000486 |
| &nbsp;&nbsp; 31585759 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K139, Class X3, 3.139%, 2/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4974334 |
| &nbsp;&nbsp; 97300000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K139, Class XAM, 0.870%, 2/25/32<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4151246 |
| &nbsp;&nbsp; 31370856 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K140, Class X3, 3.046%, 3/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4783516 |
| &nbsp;&nbsp; 10400000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K143, Class X3, 3.248%, 4/25/50<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1741815 |
| &nbsp;&nbsp; 5835659 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1515, Class X3, 3.805%, 3/25/38<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1508457 |
| &nbsp;&nbsp; 29696886 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1516, Class X1, 1.623%, 5/25/35<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3230677 |
| &nbsp;&nbsp; 18435033 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1516, Class X3, 3.574%, 10/25/38<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4634271 |
| &nbsp;&nbsp; 40306551 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1517, Class X1, 1.435%, 7/25/35<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3730456 |
| &nbsp;&nbsp; 52485811 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1517, Class X3, 3.397%, 8/25/38<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 12438618 |
| &nbsp;&nbsp;115888741 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1519, Class X1, 0.686%, 12/25/35<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4919071 |
| &nbsp;&nbsp; 11201391 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1519, Class X3, 2.897%, 12/25/38<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2349262 |
| &nbsp;&nbsp; 57246094 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1520, Class X1, 0.576%, 2/25/36<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1955624 |
| &nbsp;&nbsp; 5000000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1520, Class X3, 3.199%, 4/25/39<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1169775 |
| &nbsp;&nbsp; 55091423 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-1521, Class X1, 1.093%, 8/25/36<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 4215183 |
| &nbsp;&nbsp; 46617000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K-165, Class XAM, 1.092%, 9/25/34<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3258057 |
| &nbsp;&nbsp;129061442 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K513, Class X1, 0.882%, 12/25/28<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2648160 |
| &nbsp;&nbsp;138615640 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K538, Class X1, 0.734%, 1/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3153173 |
| &nbsp;&nbsp;523448398 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K542, Class X1, 1.032%, 4/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 18104614 |
| &nbsp;&nbsp; 82863000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K546, Class X1, 0.899%, 5/25/30<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3054653 |
| &nbsp;&nbsp; 15100238 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K739, Class X3, 2.900%, 11/25/48<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 679407 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%<br> (Continued)** |
| $16196664 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K741, Class X3, 2.533%, 3/25/49<sup>(B)(C)(D)</sup> | $808191 |
| &nbsp;&nbsp; 16000000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K742, Class X3, 2.685%, 4/25/28<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 971906 |
| &nbsp;&nbsp; 9500000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K743, Class X3, 3.055%, 6/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 652890 |
| &nbsp;&nbsp; 39018396 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K744, Class X3, 3.070%, 8/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2732017 |
| &nbsp;&nbsp; 47774075 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K745, Class X3, 2.759%, 9/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3340335 |
| &nbsp;&nbsp;146903000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K745, Class XAM, 1.096%, 9/25/28<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3787541 |
| &nbsp;&nbsp;155000000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K746, Class XAM, 0.664%, 10/25/28<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2420759 |
| &nbsp;&nbsp; 52159495 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K747, Class X3, 2.635%, 12/25/49<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3613208 |
| &nbsp;&nbsp; 19560000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K751, Class X3, 5.011%, 3/25/56<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3624885 |
| &nbsp;&nbsp; 5122000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K755, Class X3, 5.835%, 2/25/31<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1297284 |
| &nbsp;&nbsp; 31179400 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K757, Class X3, 5.743%, 10/25/61<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 8331625 |
| &nbsp;&nbsp; 6400000 &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser K758, Class X3, 5.350%, 11/25/56<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1625501 |
| &nbsp;&nbsp; 27308583 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2020-SB79, Class X1, 0.409%, 7/25/40<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1294861 |
| &nbsp;&nbsp; 69181871 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2020-SB81, Class X1, 1.133%, 10/25/40<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 3397591 |
| &nbsp;&nbsp; 28078740 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB82, Class X1, 1.141%, 10/25/40<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 652626 |
| &nbsp;&nbsp; 46475156 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB83, Class X1, 0.966%, 1/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1275195 |
| &nbsp;&nbsp; 24902519 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB84, Class X1, 0.563%, 1/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 512046 |
| &nbsp;&nbsp; 64367978 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB85, Class X1, 0.477%, 3/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1868396 |
| &nbsp;&nbsp; 71046869 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB87, Class X1, 0.730%, 4/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2033546 |
| &nbsp;&nbsp; 75271954 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2021-SB88, Class X1, 0.798%, 5/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2148405 |
| &nbsp;&nbsp;110415293 &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2022-SB94, Class X1, 0.129%, 11/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1354365 |
| &nbsp;&nbsp;121326324 &nbsp;&nbsp;FRESB Multifamily Structured Pass Through Certificates, Ser 2021-SB86, Class X1, 0.389%, 3/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 2467474 |
| &nbsp;&nbsp; 58417226 &nbsp;&nbsp;FRESB Multifamily Structured Pass Through Certificates, Ser 2021-SB89, Class X1, 0.683%, 6/25/41<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 1383034 |
| &nbsp;&nbsp; 2478093 &nbsp;&nbsp;GNMA, Ser 2012-147, Class IO, 0.516%, 4/16/54<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 20400 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%<br> (Continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 12.8%<br> (Continued)** |
| $7501937 | &nbsp;&nbsp;GNMA, Ser 2016-110, Class IO, 0.799%, 5/16/58<sup>(B)(C)(D)</sup> | $308057 |
| &nbsp;&nbsp; 17071549 | &nbsp;&nbsp;GNMA, Ser 2016-158, Class IO, 0.744%, 6/16/58<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 599300 |
| &nbsp;&nbsp; 9891444 | &nbsp;&nbsp;GNMA, Ser 2016-52, Class IO, 0.737%, 3/16/58<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 360571 |
| &nbsp;&nbsp; 10630698 | &nbsp;&nbsp;GNMA, Ser 2017-76, Class IO, 0.747%, 12/16/56<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 487092 |
| &nbsp;&nbsp; 12993551 | &nbsp;&nbsp;GNMA, Ser 2017-94, Class IO, 0.589%, 2/16/59<sup>(B)(C)(D)</sup> | &nbsp;&nbsp; 459925 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$224469585 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 11.5%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 11.5%** |
| &nbsp;&nbsp; 59511000 | &nbsp;&nbsp;U.S. Treasury Bond, 1.250%, 5/15/50 | &nbsp;&nbsp; 29158065 |
| &nbsp;&nbsp; 59511000 | &nbsp;&nbsp;U.S. Treasury Bond, 1.375%, 8/15/50 | &nbsp;&nbsp; 29888005 |
| &nbsp;&nbsp; 75577000 | &nbsp;&nbsp;U.S. Treasury Bond, 1.625%, 11/15/50 | &nbsp;&nbsp; 40510453 |
| &nbsp;&nbsp;114872000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.125%, 8/15/53 | &nbsp;&nbsp; 103743775 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$203300298 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 8.7%** | &nbsp;&nbsp;**Asset-Backed Securities — 8.7%** |
| &nbsp;&nbsp; 69665532 | &nbsp;&nbsp;Ally Auto Receivables Trust, Ser 2024-1, Class CERT, 144a, 2/16/32 | &nbsp;&nbsp; 4196861 |
| &nbsp;&nbsp; 1624248 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2024-A, Class D, 144a, 6.315%, 5/17/32 | &nbsp;&nbsp; 1648676 |
| &nbsp;&nbsp; 3892781 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2024-A, Class E, 144a, 7.917%, 5/17/32 | &nbsp;&nbsp; 3988115 |
| &nbsp;&nbsp; 3783979 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2024-B, Class D, 144a, 5.410%, 9/15/32 | &nbsp;&nbsp; 3801083 |
| &nbsp;&nbsp; 2665237 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2024-B, Class E, 144a, 6.678%, 9/15/32 | &nbsp;&nbsp; 2693688 |
| &nbsp;&nbsp; 10223022 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2025-A, Class E, 144a, 6.066%, 6/15/33 | &nbsp;&nbsp; 10259274 |
| &nbsp;&nbsp; 1742561 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2025-A, Class F, 144a, 6.942%, 6/15/33 | &nbsp;&nbsp; 1753156 |
| &nbsp;&nbsp; 3601292 | &nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes Series, Ser 2025-A, Class G, 144a, 10.219%, 6/15/33 | &nbsp;&nbsp; 3636204 |
| &nbsp;&nbsp; 8100000 | &nbsp;&nbsp;AMSR Trust, Ser 2020-SFR5, Class G, 144a, 4.112%, 11/17/37 | &nbsp;&nbsp; 8072619 |
| &nbsp;&nbsp; 3149500 | &nbsp;&nbsp;AMSR Trust, Ser 2020-SFR5, Class H, 144a, 5.000%, 11/17/37 | &nbsp;&nbsp; 3137054 |
| &nbsp;&nbsp; 8011112 | &nbsp;&nbsp;Bayview Opportunity Master Fund VII LLC, Ser 2024-CAR1, Class A, 144a, (SOFR30A + 1.100%), 5.456%, 12/26/31<sup>(B)</sup> | &nbsp;&nbsp; 8032727 |
| &nbsp;&nbsp; 1251374 | &nbsp;&nbsp;Bayview Opportunity Master Fund VII LLC, Ser 2024-CAR1, Class B, 144a, (SOFR30A + 1.300%), 5.656%, 12/26/31<sup>(B)</sup> | &nbsp;&nbsp; 1255987 |
| &nbsp;&nbsp; 787902 | &nbsp;&nbsp;Bayview Opportunity Master Fund VII LLC, Ser 2024-CAR1, Class C, 144a, (SOFR30A + 1.500%), 5.856%, 12/26/31<sup>(B)</sup> | &nbsp;&nbsp; 790377 |
| &nbsp;&nbsp; 347604 | &nbsp;&nbsp;Bayview Opportunity Master Fund VII LLC, Ser 2024-CAR1, Class D, 144a, (SOFR30A + 2.050%), 6.406%, 12/26/31<sup>(B)</sup> | &nbsp;&nbsp; 349535 |
| &nbsp;&nbsp; 695208 | &nbsp;&nbsp;Bayview Opportunity Master Fund VII LLC, Ser 2024-CAR1, Class E, 144a, (SOFR30A + 3.600%), 7.956%, 12/26/31<sup>(B)</sup> | &nbsp;&nbsp; 703260 |
| &nbsp;&nbsp; 9136226 | &nbsp;&nbsp;Chase Auto Credit Linked Notes Series, Ser 2025-1, Class B, 144a, 4.753%, 2/25/33 | &nbsp;&nbsp; 9175865 |
| &nbsp;&nbsp; 5024924 | &nbsp;&nbsp;Chase Auto Credit Linked Notes Series, Ser 2025-1, Class E, 144a, 6.024%, 2/25/33 | &nbsp;&nbsp; 5044319 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Chase Auto Owner Trust, Ser 2024-4A, Class R1, 144a, 11/25/31 | &nbsp;&nbsp; 7603032 |
| &nbsp;&nbsp; 32000 | &nbsp;&nbsp;Chase Auto Owner Trust, Ser 2024-5A, Class R1, 144a, 1/26/32 | &nbsp;&nbsp; 7290116 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 8.7% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 8.7% (Continued)** |
| $583480548 | &nbsp;&nbsp;Chase Auto Owner Trust, Ser 2025-1A, Class AIO, 144a, 1.050%, 10/25/30<sup>(D)</sup> | $7524157 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Chase Auto Owner Trust, Ser 2025-1A, Class R1, 144a, 11/26/32 | &nbsp;&nbsp; 4671087 |
| &nbsp;&nbsp; 7400000 | &nbsp;&nbsp;FirstKey Homes Trust, Ser 2020-SFR2, Class D, 144a, 1.968%, 10/19/37 | &nbsp;&nbsp; 7364259 |
| &nbsp;&nbsp; 2930000 | &nbsp;&nbsp;FirstKey Homes Trust, Ser 2020-SFR2, Class F1, 144a, 3.017%, 10/19/37 | &nbsp;&nbsp; 2917172 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;FirstKey Homes Trust, Ser 2020-SFR2, Class F3, 144a, 3.366%, 10/19/37 | &nbsp;&nbsp; 298664 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;FirstKey Homes Trust, Ser 2020-SFR2, Class G1, 144a, 4.000%, 10/19/37 | &nbsp;&nbsp; 298750 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;FirstKey Homes Trust, Ser 2020-SFR2, Class G2, 144a, 4.500%, 10/19/37 | &nbsp;&nbsp; 298802 |
| &nbsp;&nbsp; 1279702 | &nbsp;&nbsp;Home Partners of America Trust, Ser 2019-1, Class C, 144a, 3.256%, 9/17/39 | &nbsp;&nbsp; 1247865 |
| &nbsp;&nbsp; 51235 | &nbsp;&nbsp;Mid-State Capital Corp. Trust, Ser 2005-1, Class M2, 7.079%, 1/15/40 | &nbsp;&nbsp; 51438 |
| &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;OHA Credit Partners Ltd. (Cayman Islands), Ser 2023-15RA, Class X, 144a, (TSFR3M + 1.000%), 5.315%, 7/20/38<sup>(B)</sup> | &nbsp;&nbsp; 2799874 |
| &nbsp;&nbsp; 318726 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2022-2A, Class A1, 144a, (TSFR3M + 1.270%), 5.588%, 10/15/30<sup>(B)</sup> | &nbsp;&nbsp; 318799 |
| &nbsp;&nbsp; 5350000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2022-2A, Class A2, 144a, (TSFR3M + 1.900%), 6.218%, 10/15/30<sup>(B)</sup> | &nbsp;&nbsp; 5356099 |
| &nbsp;&nbsp; 975000 | &nbsp;&nbsp;Progress Residential, Ser 2021-SFR3, Class B, 144a, 1.888%, 5/17/26 | &nbsp;&nbsp; 964952 |
| &nbsp;&nbsp; 2489672 | &nbsp;&nbsp;Progress Residential, Ser 2021-SFR3, Class H, 144a, 4.750%, 5/17/26 | &nbsp;&nbsp; 2474576 |
| &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;Progress Residential Trust, Ser 2021-SFR5, Class D, 144a, 2.109%, 7/17/38 | &nbsp;&nbsp; 3881029 |
| &nbsp;&nbsp; 3338463 | &nbsp;&nbsp;Progress Residential Trust, Ser 2021-SFR6, Class A, 144a, 1.524%, 7/17/38 | &nbsp;&nbsp; 3287079 |
| &nbsp;&nbsp; 7439595 | &nbsp;&nbsp;Redwood Funding Trust, Ser 2023-1, Class A, 144a, 7.500%, 7/25/59<sup>(B)(C)</sup> | &nbsp;&nbsp; 7411047 |
| &nbsp;&nbsp; 5876009 | &nbsp;&nbsp;US Bank NA, Ser 2023-1, Class B, 144a, 6.789%, 8/25/32 | &nbsp;&nbsp; 5944499 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;USB Auto Owner Trust, Ser 2025-1A, Class R, 144a, 12/15/32 | &nbsp;&nbsp; 12036495 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp;&nbsp;&nbsp;$152578591 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Exchange-Traded Funds — 6.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;Invesco Senior Loan ETF<sup>†</sup> | &nbsp;&nbsp; 4186000 |
| &nbsp;&nbsp;&nbsp;&nbsp;1032420 | &nbsp;&nbsp;iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp; 44703786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982618 | &nbsp;&nbsp;iShares Preferred and Income Securities ETF<sup>†</sup> | &nbsp;&nbsp; 31070381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp; 2079000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645683 | &nbsp;&nbsp;VanEck Long Muni ETF | &nbsp;&nbsp; 11286539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46791 | &nbsp;&nbsp;Vanguard Long-Term Corporate Bond ETF<sup>†</sup> | &nbsp;&nbsp; 3633321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396982 | &nbsp;&nbsp;Vanguard Ultra Short Bond ETF | &nbsp;&nbsp; 19847115 |
|  | &nbsp;&nbsp;**Total Exchange-Traded Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$116806142 |
|  | &nbsp;&nbsp;**Preferred Stocks — 4.1%** |  |
|  | &nbsp;&nbsp;**Financials — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64699 | &nbsp;&nbsp;AGNC Investment Corp. REIT, Ser C, (TSFR3M + 5.373%), 9.349%<sup>(A)</sup> | &nbsp;&nbsp; 1686703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589927 | &nbsp;&nbsp;AGNC Investment Corp. REIT, Ser F, (TSFR3M + 4.959%), 9.276%<sup>(A)</sup> | &nbsp;&nbsp; 14960549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162201 | &nbsp;&nbsp;AGNC Investment Corp. REIT, Ser H, 8.750%<sup>(A)</sup> | &nbsp;&nbsp; 4128015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146575 | &nbsp;&nbsp;Allstate Corp. (The), Ser J, 7.375%<sup>(A)</sup> | &nbsp;&nbsp; 3882772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438461 | &nbsp;&nbsp;Annaly Capital Management, Inc. REIT, Ser I, (TSFR3M + 5.251%), 9.227%<sup>(A)</sup> | &nbsp;&nbsp; 11110602 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Flexible Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Preferred Stocks — 4.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102481 | &nbsp;&nbsp;Brookfield Oaktree Holdings LLC, Ser B, 6.550%<sup>(A)</sup> | $2216664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163194 | &nbsp;&nbsp;Carlyle Finance LLC, 4.625%, 5/15/61<sup>(A)</sup> | &nbsp;&nbsp; 2934228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303742 | &nbsp;&nbsp;Lincoln National Corp., Ser D, 9.000%<sup>(A)</sup> | &nbsp;&nbsp; 8100799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53686 | &nbsp;&nbsp;Oaktree Capital Group LLC, Ser A, 6.625%<sup>(A)</sup> | &nbsp;&nbsp; 1178944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186953 | &nbsp;&nbsp;Reinsurance Group of America, Inc., 7.125%, 10/15/52<sup>(A)</sup> | &nbsp;&nbsp; 4832735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3267 | &nbsp;&nbsp;Reinsurance Group of America, Inc., 5.750%, 6/15/56<sup>(A)</sup> | &nbsp;&nbsp; 81218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;Rithm Capital Corp. REIT, Ser D, 7.000%<sup>(A)</sup> | &nbsp;&nbsp; 7122400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192373 | &nbsp;&nbsp;Virtus Convertible & Income Fund, Ser A, 5.625%<sup>(A)</sup> | &nbsp;&nbsp; 4153333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7379 | &nbsp;&nbsp;Virtus Convertible & Income Fund II, 5.500%<sup>(A)</sup> | &nbsp;&nbsp; 153631 |
|  |  | &nbsp;&nbsp; 66542593 |
|  | &nbsp;&nbsp;**Utilities — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316505 | &nbsp;&nbsp;Brookfield Renewable Partners LP (Canada), Ser 17, 5.250%<sup>(A)</sup> | &nbsp;&nbsp; 5985110 |
|  | &nbsp;&nbsp;**Total Preferred Stocks** | &nbsp;&nbsp;&nbsp;&nbsp;$72527703 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 0.1%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 0.1%** |
| $28195900 | &nbsp;&nbsp;BANK, Ser 2020-BN26, Class XA, 1.306%, 3/15/63<sup>(B)(C)(D)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110625 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 4.4%** |  |
| 73333890 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 73333890 |
| &nbsp;&nbsp;&nbsp;&nbsp;4769000 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 4769000 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$78102890 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.2%<br> (Cost $1,756,349,858)** | $1764647957 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.2%)** | &nbsp;&nbsp;&nbsp; (2976656) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1761671301 |

---

---

| | |
|:---|:---|
| *(A)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *(B)* | *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* |
| *(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.* |
| *\*\** | *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 September 30, 2025 was $4,653,147.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ETF – Exchange-Traded Fund* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FRESB – Freddie Mac Multifamily Securitization Small Balance Loan* |
| *GNMA – Government National Mortgage Association* |
| *IO – Interest Only* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *SOFR30A – Secured Overnight Financing Rate 30 Day Average* |
| *SPDR – Standard & Poor's Depositary Receipt* |
| *STACR – Structured Agency Credit Risk* |
| *TSFR12M – Twelve Month Term Secured Overnight Financing Rate* |
| *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 September 30, 2025, these securities were valued at $491,780,634 or 27.9% 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*** |
| *Corporate Bonds* | *$—* | *$558091122* | *$—* | *$558091122* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*357661001* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*357661001* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*224469585* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*224469585* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*203300298* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*203300298* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*152578591* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*152578591* |
| *Exchange-Traded Funds* | &nbsp;&nbsp;&nbsp;*116806142* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*116806142* |
| *Preferred Stocks* | &nbsp;&nbsp;&nbsp;&nbsp;*72527703* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*72527703* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1110625* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1110625* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;*78102890* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*78102890* |
| *Total* | *$267436735* | *$1497211222* | *$—* | *$1764647957* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Focused Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.1%** |  |
|  | &nbsp;&nbsp;**Information Technology — 32.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;360650 | &nbsp;&nbsp;Apple, Inc. | $91832309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83210 | &nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp; 17036415 |
| &nbsp;&nbsp;&nbsp;&nbsp;266472 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 138019172 |
| &nbsp;&nbsp;&nbsp;&nbsp;330124 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 61594536 |
| &nbsp;&nbsp;&nbsp;&nbsp;174128 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 48971759 |
| &nbsp;&nbsp;&nbsp;&nbsp;113560 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 26913720 |
| &nbsp;&nbsp;&nbsp;&nbsp;104887 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 29293890 |
| &nbsp;&nbsp;&nbsp;&nbsp;106327 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 19535460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70920 | &nbsp;&nbsp;Workday, Inc. - Class A\* | &nbsp;&nbsp; 17072572 |
|  |  | &nbsp;&nbsp; 450269833 |
|  | &nbsp;&nbsp;**Communication Services — 16.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;402078 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 97926097 |
| &nbsp;&nbsp;&nbsp;&nbsp;415250 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 13047155 |
| &nbsp;&nbsp;&nbsp;&nbsp;139839 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 102694965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9828 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 11782985 |
|  |  | &nbsp;&nbsp; 225451202 |
|  | &nbsp;&nbsp;**Financials — 14.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;748902 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 38635854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40913 | &nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B\* | &nbsp;&nbsp; 20568602 |
| &nbsp;&nbsp;&nbsp;&nbsp;297862 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 28436885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40996 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 32647165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47937 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 15948160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13854 | &nbsp;&nbsp;Markel Group, Inc.\* | &nbsp;&nbsp; 26479981 |
| &nbsp;&nbsp;&nbsp;&nbsp;100160 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 34192621 |
|  |  | &nbsp;&nbsp; 196909268 |
|  | &nbsp;&nbsp;**Health Care — 9.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;108261 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 20263211 |
| &nbsp;&nbsp;&nbsp;&nbsp;129243 | &nbsp;&nbsp;BioMarin Pharmaceutical, Inc.\* | &nbsp;&nbsp; 6999801 |
| &nbsp;&nbsp;&nbsp;&nbsp;317839 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 14334539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40361 | &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp; 17201858 |
| &nbsp;&nbsp;&nbsp;&nbsp;155410 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 28816122 |
| &nbsp;&nbsp;&nbsp;&nbsp;299617 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 28535523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54266 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 18738050 |
|  |  | &nbsp;&nbsp; 134889104 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 9.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;166869 | &nbsp;&nbsp;Airbnb, Inc. - Class A\* | &nbsp;&nbsp; 20261234 |
| &nbsp;&nbsp;&nbsp;&nbsp;315140 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 69195290 |
| &nbsp;&nbsp;&nbsp;&nbsp;206190 | &nbsp;&nbsp;Choice Hotels International, Inc.<sup>†</sup> | &nbsp;&nbsp; 22043773 |
| &nbsp;&nbsp;&nbsp;&nbsp;126656 | &nbsp;&nbsp;Floor & Decor Holdings, Inc. - Class A\* | &nbsp;&nbsp; 9334547 |
| &nbsp;&nbsp;&nbsp;&nbsp;147347 | &nbsp;&nbsp;Frontdoor, Inc.\* | &nbsp;&nbsp; 9914980 |
|  |  | &nbsp;&nbsp; 130749824 |
|  | &nbsp;&nbsp;**Industrials — 8.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;123760 | &nbsp;&nbsp;Boeing Co. (The)\* | &nbsp;&nbsp; 26711121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28574 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 13065747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33977 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp; 14620643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49453 | &nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp; 7093538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61367 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 10268540 |
| &nbsp;&nbsp;&nbsp;&nbsp;198319 | &nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp; 17602795 |
| &nbsp;&nbsp;&nbsp;&nbsp;122445 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 9101337 |
| &nbsp;&nbsp;&nbsp;&nbsp;135228 | &nbsp;&nbsp;Uber Technologies, Inc.\* | &nbsp;&nbsp; 13248287 |
|  |  | &nbsp;&nbsp; 111712008 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;273492 | &nbsp;&nbsp;Coca-Cola Femsa SAB de CV (Mexico) ADR | $22727185 |
| &nbsp;&nbsp;&nbsp;&nbsp;204315 | &nbsp;&nbsp;Monster Beverage Corp.\* | &nbsp;&nbsp; 13752443 |
| &nbsp;&nbsp;&nbsp;&nbsp;219156 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 35547103 |
|  |  | &nbsp;&nbsp; 72026731 |
|  | &nbsp;&nbsp;**Energy — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;251542 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 28361361 |
|  | &nbsp;&nbsp;**Real Estate — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70700 | &nbsp;&nbsp;Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp; 21088396 |
|  | &nbsp;&nbsp;**Materials — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;140564 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 8650309 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $1380108036 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 2.4%** |  |
| 27643873 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 27643873 |
| 5530000 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 5530000 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$33173873 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.5%<br> (Cost $604,472,956)** | $1413281909 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.5%)** | &nbsp;&nbsp;&nbsp; (6668643) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1406613266 |

---

---

| | |
|:---|:---|
| *\** | *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 September 30, 2025 was $5,345,500.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 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* | *$1380108036* | *$—* | *$—* | *$1380108036* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*33173873* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*33173873* |
| *Total* | *$1413281909* | *$—* | *$—* | *$1413281909* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Mid Cap Growth Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0%** |  |
|  | &nbsp;&nbsp;**Industrials — 24.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;108153 | &nbsp;&nbsp;AMETEK, Inc. | $20332764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79672 | &nbsp;&nbsp;Axon Enterprise, Inc.\* | &nbsp;&nbsp; 57175814 |
| &nbsp;&nbsp;&nbsp;&nbsp;512148 | &nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 18186376 |
| &nbsp;&nbsp;&nbsp;&nbsp;350631 | &nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp; 68804321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97320 | &nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 13057424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54184 | &nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp; 22454933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66658 | &nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp; 23298971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24296 | &nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp; 32022614 |
| &nbsp;&nbsp;&nbsp;&nbsp;465730 | &nbsp;&nbsp;Vertiv Holdings Co. - Class A | &nbsp;&nbsp; 70260028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94866 | &nbsp;&nbsp;Waste Connections, Inc. | &nbsp;&nbsp; 16677443 |
|  |  | &nbsp;&nbsp; 342270688 |
|  | &nbsp;&nbsp;**Information Technology — 17.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;108350 | &nbsp;&nbsp;Atlassian Corp. - Class A\* | &nbsp;&nbsp; 17303495 |
| &nbsp;&nbsp;&nbsp;&nbsp;159266 | &nbsp;&nbsp;Cloudflare, Inc. - Class A\* | &nbsp;&nbsp; 34176891 |
| &nbsp;&nbsp;&nbsp;&nbsp;144473 | &nbsp;&nbsp;Coherent Corp.\* | &nbsp;&nbsp; 15562632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9763 | &nbsp;&nbsp;Fair Isaac Corp.\* | &nbsp;&nbsp; 14610622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44143 | &nbsp;&nbsp;HubSpot, Inc.\* | &nbsp;&nbsp; 20650095 |
| &nbsp;&nbsp;&nbsp;&nbsp;259490 | &nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp; 21815324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98306 | &nbsp;&nbsp;Monday.com Ltd.\* | &nbsp;&nbsp; 19040889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59272 | &nbsp;&nbsp;MongoDB, Inc.\* | &nbsp;&nbsp; 18396843 |
| &nbsp;&nbsp;&nbsp;&nbsp;239550 | &nbsp;&nbsp;Pure Storage, Inc. - Class A\* | &nbsp;&nbsp; 20076686 |
| &nbsp;&nbsp;&nbsp;&nbsp;595759 | &nbsp;&nbsp;Samsara, Inc. - Class A\* | &nbsp;&nbsp; 22192023 |
| &nbsp;&nbsp;&nbsp;&nbsp;281186 | &nbsp;&nbsp;Semtech Corp.\* | &nbsp;&nbsp; 20090740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94660 | &nbsp;&nbsp;Snowflake, Inc. - Class A\* | &nbsp;&nbsp; 21350563 |
| &nbsp;&nbsp;&nbsp;&nbsp;120213 | &nbsp;&nbsp;Super Micro Computer, Inc.\* | &nbsp;&nbsp; 5763011 |
|  |  | &nbsp;&nbsp; 251029814 |
|  | &nbsp;&nbsp;**Health Care — 17.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27679 | &nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.\* | &nbsp;&nbsp; 12621624 |
| &nbsp;&nbsp;&nbsp;&nbsp;261493 | &nbsp;&nbsp;Ascendis Pharma A/S (Denmark) ADR\* | &nbsp;&nbsp; 51987423 |
| &nbsp;&nbsp;&nbsp;&nbsp;101972 | &nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp; 31869309 |
| &nbsp;&nbsp;&nbsp;&nbsp;401097 | &nbsp;&nbsp;DexCom, Inc.\* | &nbsp;&nbsp; 26989817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94708 | &nbsp;&nbsp;ICON PLC\* | &nbsp;&nbsp; 16573900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31066 | &nbsp;&nbsp;IDEXX Laboratories, Inc.\* | &nbsp;&nbsp; 19847757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65632 | &nbsp;&nbsp;Insulet Corp.\* | &nbsp;&nbsp; 20262567 |
| &nbsp;&nbsp;&nbsp;&nbsp;361257 | &nbsp;&nbsp;Legend Biotech Corp. ADR\* | &nbsp;&nbsp; 11780591 |
| &nbsp;&nbsp;&nbsp;&nbsp;111221 | &nbsp;&nbsp;Masimo Corp.\* | &nbsp;&nbsp; 16410659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83413 | &nbsp;&nbsp;Natera, Inc.\* | &nbsp;&nbsp; 13426991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71965 | &nbsp;&nbsp;Veeva Systems, Inc. - Class A\* | &nbsp;&nbsp; 21439093 |
|  |  | &nbsp;&nbsp; 243209731 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 16.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9710 | &nbsp;&nbsp;AutoZone, Inc.\* | &nbsp;&nbsp; 41658230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68084 | &nbsp;&nbsp;Burlington Stores, Inc.\* | &nbsp;&nbsp; 17327378 |
| &nbsp;&nbsp;&nbsp;&nbsp;130444 | &nbsp;&nbsp;DoorDash, Inc. - Class A\* | &nbsp;&nbsp; 35479464 |
| &nbsp;&nbsp;&nbsp;&nbsp;690422 | &nbsp;&nbsp;DraftKings, Inc. - Class A\* | &nbsp;&nbsp; 25821783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76877 | &nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp; 19944969 |
| &nbsp;&nbsp;&nbsp;&nbsp;114496 | &nbsp;&nbsp;Royal Caribbean Cruises Ltd. | &nbsp;&nbsp; 37048616 |
| &nbsp;&nbsp;&nbsp;&nbsp;200974 | &nbsp;&nbsp;SharkNinja, Inc.\* | &nbsp;&nbsp; 20730468 |
| &nbsp;&nbsp;&nbsp;&nbsp;341366 | &nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp; 38649458 |
|  |  | &nbsp;&nbsp; 236660366 |
|  | &nbsp;&nbsp;**Financials — 10.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;205063 | &nbsp;&nbsp;Ares Management Corp. - Class A | &nbsp;&nbsp; 32787523 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 10.2% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68420 | &nbsp;&nbsp;Arthur J Gallagher & Co. | $21192411 |
| &nbsp;&nbsp;&nbsp;&nbsp;535864 | &nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp; 23872741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71157 | &nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp; 23673222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51716 | &nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp; 29344176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95681 | &nbsp;&nbsp;Robinhood Markets, Inc. - Class A\* | &nbsp;&nbsp; 13699606 |
|  |  | &nbsp;&nbsp; 144569679 |
|  | &nbsp;&nbsp;**Communication Services — 6.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;214063 | &nbsp;&nbsp;Live Nation Entertainment, Inc.\* | &nbsp;&nbsp; 34977894 |
| &nbsp;&nbsp;&nbsp;&nbsp;393563 | &nbsp;&nbsp;ROBLOX Corp. - Class A\* | &nbsp;&nbsp; 54516347 |
|  |  | &nbsp;&nbsp; 89494241 |
|  | &nbsp;&nbsp;**Utilities — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;183398 | &nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp; 35931336 |
|  | &nbsp;&nbsp;**Energy — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;107952 | &nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp; 15447931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60925 | &nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp; 10207375 |
|  |  | &nbsp;&nbsp; 25655306 |
|  | &nbsp;&nbsp;**Materials — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77896 | &nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp; 23962367 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $1392783528 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.1%** |  |
| 30083352 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 30083352 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $1,067,481,071)** | $1422866880 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (1148245) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1421718635 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 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* | *$1392783528* | *$—* | *$—* | *$1392783528* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*30083352* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*30083352* |
| *Total* | *$1422866880* | *$—* | *$—* | *$1422866880* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Non-US Equity Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 95.9%** |  |
|  | &nbsp;&nbsp;**Japan — 16.3%** |  |
|  | &nbsp;&nbsp;**Communication Services — 5.6%** |  |
| 1193300 | &nbsp;&nbsp;KDDI Corp. | $19031379 |
| &nbsp;&nbsp;&nbsp;&nbsp;501100 | &nbsp;&nbsp;Nintendo Co. Ltd. | &nbsp;&nbsp; 43354796 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;925400 | &nbsp;&nbsp;Denso Corp. | &nbsp;&nbsp; 13318066 |
| 1205700 | &nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp; 34659899 |
|  | &nbsp;&nbsp;**Financials — 2.3%** |  |
| 1478500 | &nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp; 23850243 |
| 1205700 | &nbsp;&nbsp;Sony Financial Group, Inc.\* | &nbsp;&nbsp; 1337085 |
|  | &nbsp;&nbsp;**Industrials — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;371700 | &nbsp;&nbsp;Hitachi Ltd. | &nbsp;&nbsp; 9847474 |
|  | &nbsp;&nbsp;**Information Technology — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;120300 | &nbsp;&nbsp;Tokyo Electron Ltd. | &nbsp;&nbsp; 21325216 |
|  | &nbsp;&nbsp;**Materials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;441500 | &nbsp;&nbsp;Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 14456271 |
|  | &nbsp;&nbsp;Total Japan | &nbsp;&nbsp; 181180429 |
|  | &nbsp;&nbsp;**United Kingdom — 10.6%** |  |
|  | &nbsp;&nbsp;**Financials — 4.7%** |  |
| 27657665 | &nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp; 31297010 |
| &nbsp;&nbsp;&nbsp;&nbsp;179610 | &nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp; 20598235 |
|  | &nbsp;&nbsp;**Health Care — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;226686 | &nbsp;&nbsp;AstraZeneca PLC ADR | &nbsp;&nbsp; 17391350 |
|  | &nbsp;&nbsp;**Industrials — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;648389 | &nbsp;&nbsp;RELX PLC | &nbsp;&nbsp; 30979275 |
| 3423410 | &nbsp;&nbsp;Rentokil Initial PLC | &nbsp;&nbsp; 17342130 |
|  | &nbsp;&nbsp;Total United Kingdom | &nbsp;&nbsp; 117608000 |
|  | &nbsp;&nbsp;**Sweden — 9.3%** |  |
|  | &nbsp;&nbsp;**Financials — 6.0%** |  |
| 2066711 | &nbsp;&nbsp;Svenska Handelsbanken AB - Class A | &nbsp;&nbsp; 26965694 |
| 1301616 | &nbsp;&nbsp;Swedbank AB - Class A | &nbsp;&nbsp; 39290192 |
|  | &nbsp;&nbsp;**Industrials — 3.3%** |  |
| 1367681 | &nbsp;&nbsp;Atlas Copco AB - Class A | &nbsp;&nbsp; 23193113 |
| &nbsp;&nbsp;&nbsp;&nbsp;656682 | &nbsp;&nbsp;Epiroc AB - Class A | &nbsp;&nbsp; 13902007 |
|  | &nbsp;&nbsp;Total Sweden | &nbsp;&nbsp; 103351006 |
|  | &nbsp;&nbsp;**China — 7.8%** |  |
|  | &nbsp;&nbsp;**Communication Services — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;494855 | &nbsp;&nbsp;Tencent Holdings Ltd. ADR | &nbsp;&nbsp; 42136903 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;168971 | &nbsp;&nbsp;Alibaba Group Holding Ltd. ADR | &nbsp;&nbsp; 30200187 |
| &nbsp;&nbsp;&nbsp;&nbsp;195210 | &nbsp;&nbsp;Trip.com Group Ltd. ADR | &nbsp;&nbsp; 14679792 |
|  | &nbsp;&nbsp;Total China | &nbsp;&nbsp; 87016882 |
|  | &nbsp;&nbsp;**France — 7.8%** |  |
|  | &nbsp;&nbsp;**Energy — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;239472 | &nbsp;&nbsp;TotalEnergies SE ADR | &nbsp;&nbsp; 14294084 |
|  | &nbsp;&nbsp;**Financials — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;169047 | &nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp; 15461512 |
|  | &nbsp;&nbsp;**Industrials — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;135925 | &nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp; 14727686 |
|  | &nbsp;&nbsp;**Materials — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;201255 | &nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp; 41932813 |
|  | &nbsp;&nbsp;Total France | &nbsp;&nbsp; 86416095 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 95.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Netherlands — 6.0%** |  |
|  | &nbsp;&nbsp;**Energy — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;491144 | &nbsp;&nbsp;Shell PLC ADR | $35131530 |
|  | &nbsp;&nbsp;**Financials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6749 | &nbsp;&nbsp;Adyen NV, 144a\* | &nbsp;&nbsp; 10859673 |
|  | &nbsp;&nbsp;**Information Technology — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20824 | &nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 20159506 |
|  | &nbsp;&nbsp;Total Netherlands | &nbsp;&nbsp; 66150709 |
|  | &nbsp;&nbsp;**Germany — 5.7%** |  |
|  | &nbsp;&nbsp;**Industrials — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58603 | &nbsp;&nbsp;MTU Aero Engines AG | &nbsp;&nbsp; 27035760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59367 | &nbsp;&nbsp;Siemens AG | &nbsp;&nbsp; 16027786 |
|  | &nbsp;&nbsp;**Materials — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91081 | &nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp; 20588471 |
|  | &nbsp;&nbsp;Total Germany | &nbsp;&nbsp; 63652017 |
|  | &nbsp;&nbsp;**South Korea — 5.0%** |  |
|  | &nbsp;&nbsp;**Communication Services — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;678753 | &nbsp;&nbsp;KT Corp. ADR | &nbsp;&nbsp; 13235683 |
| &nbsp;&nbsp;&nbsp;&nbsp;350227 | &nbsp;&nbsp;KT Corp. | &nbsp;&nbsp; 12623233 |
|  | &nbsp;&nbsp;**Information Technology — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;487303 | &nbsp;&nbsp;Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 29213974 |
|  | &nbsp;&nbsp;Total South Korea | &nbsp;&nbsp; 55072890 |
|  | &nbsp;&nbsp;**Taiwan — 4.9%** |  |
|  | &nbsp;&nbsp;**Information Technology — 4.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;196292 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp; 54822393 |
|  | &nbsp;&nbsp;**Switzerland — 3.8%** |  |
|  | &nbsp;&nbsp;**Health Care — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24633 | &nbsp;&nbsp;Lonza Group AG | &nbsp;&nbsp; 16470569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35650 | &nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp; 11870864 |
|  | &nbsp;&nbsp;**Industrials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;188937 | &nbsp;&nbsp;ABB Ltd. ADR | &nbsp;&nbsp; 13594017 |
|  | &nbsp;&nbsp;Total Switzerland | &nbsp;&nbsp; 41935450 |
|  | &nbsp;&nbsp;**Ireland — 3.3%** |  |
|  | &nbsp;&nbsp;**Industrials — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;298749 | &nbsp;&nbsp;AerCap Holdings NV | &nbsp;&nbsp; 36148629 |
|  | &nbsp;&nbsp;**Singapore — 3.0%** |  |
|  | &nbsp;&nbsp;**Financials — 3.0%** |  |
| 2648000 | &nbsp;&nbsp;Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 33760983 |
|  | &nbsp;&nbsp;**India — 2.6%** |  |
|  | &nbsp;&nbsp;**Financials — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;948508 | &nbsp;&nbsp;ICICI Bank Ltd. ADR | &nbsp;&nbsp; 28673397 |
|  | &nbsp;&nbsp;**United States — 2.4%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.4%** |  |
| 1771517 | &nbsp;&nbsp;Haleon PLC ADR | &nbsp;&nbsp; 15890508 |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38213 | &nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp; 10755894 |
|  | &nbsp;&nbsp;Total United States | &nbsp;&nbsp; 26646402 |
|  | &nbsp;&nbsp;**Hong Kong — 2.2%** |  |
|  | &nbsp;&nbsp;**Financials — 2.2%** |  |
| 2602400 | &nbsp;&nbsp;AIA Group Ltd. | &nbsp;&nbsp; 24941312 |
|  | &nbsp;&nbsp;**Canada — 1.9%** |  |
|  | &nbsp;&nbsp;**Information Technology — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;145144 | &nbsp;&nbsp;Shopify, Inc. - Class A\* | &nbsp;&nbsp; 21569850 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Non-US Equity Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 95.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Italy — 1.6%** |  |
|  | &nbsp;&nbsp;**Financials — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;838014 | &nbsp;&nbsp;FinecoBank Banca Fineco SpA | $18187963 |
|  | &nbsp;&nbsp;**Brazil — 1.1%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;MercadoLibre, Inc.\* | &nbsp;&nbsp; 12385782 |
|  | &nbsp;&nbsp;**Denmark — 0.6%** |  |
|  | &nbsp;&nbsp;**Health Care — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;123591 | &nbsp;&nbsp;Novo Nordisk A/S ADR<sup>†</sup> | &nbsp;&nbsp; 6858064 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $1066378253 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 4.4%** |  |
| 42043361 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | &nbsp;&nbsp; 42043361 |
| 7001373 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 7001373 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp;&nbsp;$49044734 |
|  | &nbsp;&nbsp;**Total Investment Securities — 100.3%<br> (Cost $827,984,561)** | $1115422987 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.3)%** | &nbsp;&nbsp;&nbsp; (3664366) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $1111758621 |

---

---

| | |
|:---|:---|
| *\** | *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 September 30, 2025 was $6,858,009.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *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 September 30, 2025, these securities were valued at $10,859,673 or 1.0% 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* | *$1337085* | *$179843344* | *$—* | *$181180429* |
| &nbsp;&nbsp;&nbsp;*United Kingdom* | &nbsp;&nbsp;&nbsp;&nbsp;*17391350* | &nbsp;&nbsp;&nbsp;*100216650* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*117608000* |
| &nbsp;&nbsp;&nbsp;*Sweden* | &nbsp;&nbsp;&nbsp;&nbsp;*23193113* | &nbsp;&nbsp;&nbsp;&nbsp;*80157893* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*103351006* |
| &nbsp;&nbsp;&nbsp;*China* | &nbsp;&nbsp;&nbsp;&nbsp;*87016882* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*87016882* |
| &nbsp;&nbsp;&nbsp;*France* | &nbsp;&nbsp;&nbsp;&nbsp;*29021770* | &nbsp;&nbsp;&nbsp;&nbsp;*57394325* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*86416095* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;*55291036* | &nbsp;&nbsp;&nbsp;&nbsp;*10859673* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*66150709* |
| &nbsp;&nbsp;&nbsp;*Germany* | &nbsp;&nbsp;&nbsp;&nbsp;*16027786* | &nbsp;&nbsp;&nbsp;&nbsp;*47624231* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*63652017* |
| &nbsp;&nbsp;&nbsp;*South Korea* | &nbsp;&nbsp;&nbsp;&nbsp;*42449657* | &nbsp;&nbsp;&nbsp;&nbsp;*12623233* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*55072890* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;*54822393* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*54822393* |
| &nbsp;&nbsp;&nbsp;*Switzerland* | &nbsp;&nbsp;&nbsp;&nbsp;*13594017* | &nbsp;&nbsp;&nbsp;&nbsp;*28341433* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*41935450* |
| &nbsp;&nbsp;&nbsp;*Ireland* | &nbsp;&nbsp;&nbsp;&nbsp;*36148629* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*36148629* |
| &nbsp;&nbsp;&nbsp;*Singapore* | &nbsp;&nbsp;&nbsp;&nbsp;*33760983* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*33760983* |
| &nbsp;&nbsp;&nbsp;*India* | &nbsp;&nbsp;&nbsp;&nbsp;*28673397* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*28673397* |
| &nbsp;&nbsp;&nbsp;*United States* | &nbsp;&nbsp;&nbsp;&nbsp;*26646402* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*26646402* |
| &nbsp;&nbsp;&nbsp;*Hong Kong* | &nbsp;&nbsp;&nbsp;&nbsp;*24941312* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*24941312* |
| &nbsp;&nbsp;&nbsp;*Canada* | &nbsp;&nbsp;&nbsp;&nbsp;*21569850* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*21569850* |
| &nbsp;&nbsp;&nbsp;*Italy* | &nbsp;&nbsp;&nbsp;&nbsp;*18187963* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*18187963* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;&nbsp;*12385782* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*12385782* |
| &nbsp;&nbsp;&nbsp;*Denmark* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6858064* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6858064* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;*49044734* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*49044734* |
| *Total* | *$598362205* | *$517060782* | *$—* | *$1115422987* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Sands Capital Emerging Markets Growth Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.3%** |  |
|  | &nbsp;&nbsp;**China — 21.5%** |  |
|  | &nbsp;&nbsp;**Communication Services — 6.4%** |  |
| 1553142 | &nbsp;&nbsp;Tencent Holdings Ltd. | $132342612 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 7.5%** |  |
| 5597723 | &nbsp;&nbsp;ANTA Sports Products Ltd. | &nbsp;&nbsp; 67051679 |
| 2093500 | &nbsp;&nbsp;BYD Co. Ltd. Class H | &nbsp;&nbsp; 29590949 |
| 10707410 | &nbsp;&nbsp;H World Group Ltd. | &nbsp;&nbsp; 42253838 |
| 1243500 | &nbsp;&nbsp;Meituan - Class B, 144a\* | &nbsp;&nbsp; 16611629 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.3%** |  |
| 4904067 | &nbsp;&nbsp;Foshan Haitian Flavouring & Food Co. Ltd. - Class A | &nbsp;&nbsp; 26914655 |
|  | &nbsp;&nbsp;**Industrials — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;992394 | &nbsp;&nbsp;Contemporary Amperex Technology Co. Ltd. - Class A | &nbsp;&nbsp; 56282073 |
| 1862217 | &nbsp;&nbsp;Full Truck Alliance Co. Ltd. ADR | &nbsp;&nbsp; 24152955 |
|  | &nbsp;&nbsp;**Information Technology — 2.4%** |  |
| 6986800 | &nbsp;&nbsp;Xiaomi Corp. - Class B\* | &nbsp;&nbsp; 48557892 |
|  | &nbsp;&nbsp;Total China | &nbsp;&nbsp; 443758282 |
|  | &nbsp;&nbsp;**India — 20.6%** |  |
|  | &nbsp;&nbsp;**Communication Services — 1.9%** |  |
| 1875075 | &nbsp;&nbsp;Bharti Airtel Ltd. | &nbsp;&nbsp; 39656882 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 3.4%** |  |
| 10028120 | &nbsp;&nbsp;Eternal Ltd.\* | &nbsp;&nbsp; 36814591 |
| &nbsp;&nbsp;&nbsp;&nbsp;865691 | &nbsp;&nbsp;Titan Co. Ltd. | &nbsp;&nbsp; 32821412 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;609736 | &nbsp;&nbsp;Britannia Industries Ltd. | &nbsp;&nbsp; 41141793 |
|  | &nbsp;&nbsp;**Financials — 10.6%** |  |
| 9259879 | &nbsp;&nbsp;Bajaj Finance Ltd. | &nbsp;&nbsp; 104187389 |
| 7637601 | &nbsp;&nbsp;HDFC Bank Ltd. | &nbsp;&nbsp; 81849927 |
| 3866247 | &nbsp;&nbsp;HDFC Life Insurance Co. Ltd., 144a | &nbsp;&nbsp; 32924160 |
|  | &nbsp;&nbsp;**Health Care — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;347314 | &nbsp;&nbsp;Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 29002709 |
|  | &nbsp;&nbsp;**Real Estate — 1.3%** |  |
| 1481818 | &nbsp;&nbsp;Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 25940945 |
|  | &nbsp;&nbsp;Total India | &nbsp;&nbsp; 424339808 |
|  | &nbsp;&nbsp;**Taiwan — 15.5%** |  |
|  | &nbsp;&nbsp;**Information Technology — 15.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;117000 | &nbsp;&nbsp;ASPEED Technology, Inc. | &nbsp;&nbsp; 19459733 |
| &nbsp;&nbsp;&nbsp;&nbsp;654000 | &nbsp;&nbsp;MediaTek, Inc. | &nbsp;&nbsp; 28363817 |
| &nbsp;&nbsp;&nbsp;&nbsp;969381 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp; 270738420 |
|  | &nbsp;&nbsp;Total Taiwan | &nbsp;&nbsp; 318561970 |
|  | &nbsp;&nbsp;**Brazil — 12.0%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42183 | &nbsp;&nbsp;MercadoLibre, Inc.\* | &nbsp;&nbsp; 98579140 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.2%** |  |
| 7293219 | &nbsp;&nbsp;Raia Drogasil SA | &nbsp;&nbsp; 25159190 |
|  | &nbsp;&nbsp;**Financials — 3.8%** |  |
| 4875631 | &nbsp;&nbsp;NU Holdings Ltd. - Class A\* | &nbsp;&nbsp; 78058852 |
|  | &nbsp;&nbsp;**Industrials — 2.2%** |  |
| 3361442 | &nbsp;&nbsp;Localiza Rent a Car SA | &nbsp;&nbsp; 24915945 |
| 3007699 | &nbsp;&nbsp;WEG SA | &nbsp;&nbsp; 20621154 |
|  | &nbsp;&nbsp;Total Brazil | &nbsp;&nbsp; 247334281 |
|  | &nbsp;&nbsp;**South Korea — 7.6%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.8%** |  |
| 1808905 | &nbsp;&nbsp;Coupang, Inc.\* | &nbsp;&nbsp; 58246741 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.3% (Continued)** |  |
|  | &nbsp;&nbsp;**South Korea — (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;113315 | &nbsp;&nbsp;Cosmax, Inc. | $17337541 |
|  | &nbsp;&nbsp;**Information Technology — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;760722 | &nbsp;&nbsp;Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 45605533 |
| &nbsp;&nbsp;&nbsp;&nbsp;140685 | &nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp; 34875529 |
|  | &nbsp;&nbsp;Total South Korea | &nbsp;&nbsp; 156065344 |
|  | &nbsp;&nbsp;**Singapore — 5.3%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;490481 | &nbsp;&nbsp;Sea Ltd. ADR\* | &nbsp;&nbsp; 87663669 |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| 3411408 | &nbsp;&nbsp;Grab Holdings Ltd. - Class A\* | &nbsp;&nbsp; 20536676 |
|  | &nbsp;&nbsp;Total Singapore | &nbsp;&nbsp; 108200345 |
|  | &nbsp;&nbsp;**Hong Kong — 3.4%** |  |
|  | &nbsp;&nbsp;**Financials — 3.4%** |  |
| 7404531 | &nbsp;&nbsp;AIA Group Ltd. | &nbsp;&nbsp; 70964771 |
|  | &nbsp;&nbsp;**Indonesia — 2.7%** |  |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| 86139800 | &nbsp;&nbsp;Bank Central Asia Tbk PT | &nbsp;&nbsp; 39448624 |
| 64470000 | &nbsp;&nbsp;Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 15110639 |
|  | &nbsp;&nbsp;Total Indonesia | &nbsp;&nbsp; 54559263 |
|  | &nbsp;&nbsp;**Netherlands — 2.1%** |  |
|  | &nbsp;&nbsp;**Information Technology — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45191 | &nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 43748955 |
|  | &nbsp;&nbsp;**Poland — 2.1%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.1%** |  |
| 3520512 | &nbsp;&nbsp;Dino Polska SA, 144a\* | &nbsp;&nbsp; 42434969 |
|  | &nbsp;&nbsp;**Kazakhstan — 1.8%** |  |
|  | &nbsp;&nbsp;**Financials — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;453260 | &nbsp;&nbsp;Kaspi.KZ JSC ADR | &nbsp;&nbsp; 37022277 |
|  | &nbsp;&nbsp;**Mexico — 1.2%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 1.2%** |  |
| 8150900 | &nbsp;&nbsp;Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 25182402 |
|  | &nbsp;&nbsp;**Philippines — 1.0%** |  |
|  | &nbsp;&nbsp;**Industrials — 1.0%** |  |
| 2639300 | &nbsp;&nbsp;International Container Terminal Services, Inc. | &nbsp;&nbsp; 21386493 |
|  | &nbsp;&nbsp;**Saudi Arabia — 1.0%** |  |
|  | &nbsp;&nbsp;**Financials — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;727324 | &nbsp;&nbsp;Al Rajhi Bank | &nbsp;&nbsp; 20783439 |
|  | &nbsp;&nbsp;**Vietnam — 0.8%** |  |
|  | &nbsp;&nbsp;**Information Technology — 0.8%** |  |
| 4889685 | &nbsp;&nbsp;FPT Corp. | &nbsp;&nbsp; 17205475 |
|  | &nbsp;&nbsp;**Argentina — 0.7%** |  |
|  | &nbsp;&nbsp;**Information Technology — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;234225 | &nbsp;&nbsp;Globant SA\* | &nbsp;&nbsp; 13439830 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $2044987904 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Sands Capital Emerging Markets Growth Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 1.9%** |  |
| 40136688 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | $40136688 |
|  | &nbsp;&nbsp;**Total Investment Securities — 101.2%<br> (Cost $1,367,836,129)** | $2085124592 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (1.2)%** | &nbsp;&nbsp;&nbsp; (25729043) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $2059395549 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *JSC – Joint Stock Company* |
| *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 September 30, 2025, these securities were valued at $91,970,758 or 4.5% 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;*China* | *$290926481* | *$152831801* | *$—* | *$443758282* |
| &nbsp;&nbsp;&nbsp;*India* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*41141793* | &nbsp;&nbsp;&nbsp;*383198015* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*424339808* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;*270738420* | &nbsp;&nbsp;&nbsp;&nbsp;*47823550* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*318561970* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;&nbsp;*247334281* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*247334281* |
| &nbsp;&nbsp;&nbsp;*South Korea* | &nbsp;&nbsp;&nbsp;&nbsp;*138727803* | &nbsp;&nbsp;&nbsp;&nbsp;*17337541* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*156065344* |
| &nbsp;&nbsp;&nbsp;*Singapore* | &nbsp;&nbsp;&nbsp;&nbsp;*108200345* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*108200345* |
| &nbsp;&nbsp;&nbsp;*Hong Kong* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*70964771* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*70964771* |
| &nbsp;&nbsp;&nbsp;*Indonesia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*54559263* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*54559263* |
| &nbsp;&nbsp;&nbsp;*Netherlands* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*43748955* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*43748955* |
| &nbsp;&nbsp;&nbsp;*Poland* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*42434969* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*42434969* |
| &nbsp;&nbsp;&nbsp;*Kazakhstan* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*37022277* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*37022277* |
| &nbsp;&nbsp;&nbsp;*Mexico* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*25182402* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*25182402* |
| &nbsp;&nbsp;&nbsp;*Philippines* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*21386493* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*21386493* |
| &nbsp;&nbsp;&nbsp;*Saudi Arabia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*20783439* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*20783439* |
| &nbsp;&nbsp;&nbsp;*Vietnam* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*17205475* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*17205475* |
| &nbsp;&nbsp;&nbsp;*Argentina* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*13439830* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*13439830* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*40136688* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*40136688* |
| *Total* | *$1366156014* | *$718968578* | *$—* | *$2085124592* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Portfolio of Investments

Touchstone Strategic Income Fund – September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 49.8%** |  |
|  | &nbsp;&nbsp;**Energy — 10.2%** |  |
| $790000 | &nbsp;&nbsp;3R Lux Sarl (Brazil), 144a, 9.750%, 2/5/31 | $832818 |
| &nbsp;&nbsp; 1595000 | &nbsp;&nbsp;Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | &nbsp;&nbsp; 1570557 |
| &nbsp;&nbsp; 64859 | &nbsp;&nbsp;Atlas Energy Note, 7.000%, 1/31/26<sup>(A)</sup> | &nbsp;&nbsp; 64859 |
| &nbsp;&nbsp; 2594000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 2363430 |
| &nbsp;&nbsp; 667000 | &nbsp;&nbsp;Ecopetrol SA (Colombia), 7.750%, 2/1/32<sup>†</sup> | &nbsp;&nbsp; 690321 |
| &nbsp;&nbsp; 1516000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser 20-A, 5.750%, 7/15/80 | &nbsp;&nbsp; 1530561 |
| &nbsp;&nbsp; 895000 | &nbsp;&nbsp;Energy Transfer LP, (TSFR3M + 3.279%), 7.575%, 11/1/66<sup>(B)</sup> | &nbsp;&nbsp; 892069 |
| &nbsp;&nbsp; 1839000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 1842954 |
| &nbsp;&nbsp; 263000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | &nbsp;&nbsp; 259090 |
| &nbsp;&nbsp; 766000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 2/1/31 | &nbsp;&nbsp; 737680 |
| &nbsp;&nbsp; 760782 | &nbsp;&nbsp;MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | &nbsp;&nbsp; 651435 |
| &nbsp;&nbsp; 405000 | &nbsp;&nbsp;Mesquite Energy, Inc., 7.250%, 7/15/26 | &nbsp;&nbsp; 41 |
| &nbsp;&nbsp; 2133000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 2142834 |
| &nbsp;&nbsp; 925000 | &nbsp;&nbsp;MSU Energy SA (Argentina), 144a, 9.750%, 12/5/30 | &nbsp;&nbsp; 832500 |
| &nbsp;&nbsp; 1833000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 2115756 |
| &nbsp;&nbsp; 755250 | &nbsp;&nbsp;OHI Group SA (Brazil), 144a, 13.000%, 7/22/29 | &nbsp;&nbsp; 799621 |
| &nbsp;&nbsp; 1908000 | &nbsp;&nbsp;Ovintiv, Inc., 7.200%, 11/1/31 | &nbsp;&nbsp; 2104232 |
| &nbsp;&nbsp; 1386000 | &nbsp;&nbsp;Parkland Corp. (Canada), 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 1350370 |
| &nbsp;&nbsp; 350000 | &nbsp;&nbsp;Petroleos Mexicanos (Mexico), 6.375%, 1/23/45 | &nbsp;&nbsp; 284462 |
| &nbsp;&nbsp; 950000 | &nbsp;&nbsp;Petroleos Mexicanos (Mexico), 6.625%, 6/15/35 | &nbsp;&nbsp; 905799 |
| &nbsp;&nbsp; 904000 | &nbsp;&nbsp;Plains All American Pipeline LP, Ser B, (TSFR3M + 4.372%), 8.583%<sup>(B)(C)</sup> | &nbsp;&nbsp; 905463 |
| &nbsp;&nbsp; 865000 | &nbsp;&nbsp;Pluspetrol SA (Argentina), 144a, 8.500%, 5/30/32 | &nbsp;&nbsp; 865346 |
| &nbsp;&nbsp; 669000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 672615 |
| &nbsp;&nbsp; 2426000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | &nbsp;&nbsp; 2151821 |
| &nbsp;&nbsp; 1034000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 1034523 |
| &nbsp;&nbsp; 230000 | &nbsp;&nbsp;Sunoco LP, 144a, 7.875%<sup>(C)</sup> | &nbsp;&nbsp; 234073 |
| &nbsp;&nbsp; 902000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 6.750%, 3/15/34 | &nbsp;&nbsp; 893777 |
| &nbsp;&nbsp; 929000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 962470 |
| &nbsp;&nbsp; 676000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 7.000%, 1/15/30 | &nbsp;&nbsp; 698670 |
|  |  | &nbsp;&nbsp; 30390147 |
|  | &nbsp;&nbsp;**Financials — 9.9%** |  |
| &nbsp;&nbsp; 968000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.411%, 8/15/53<sup>(B)</sup> | &nbsp;&nbsp; 967920 |
| &nbsp;&nbsp; 1844000 | &nbsp;&nbsp;Ares Capital Corp., 5.875%, 3/1/29 | &nbsp;&nbsp; 1897405 |
| &nbsp;&nbsp; 1886000 | &nbsp;&nbsp;Bank of Nova Scotia (The) (Canada), Ser 2, 3.625%, 10/27/81 | &nbsp;&nbsp; 1796459 |
| &nbsp;&nbsp; 2596000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 2.894%, 11/24/32 | &nbsp;&nbsp; 2340542 |
| &nbsp;&nbsp; 699000 | &nbsp;&nbsp;Charles Schwab Corp. (The), Ser H, 4.000%<sup>(C)</sup> | &nbsp;&nbsp; 656075 |
| &nbsp;&nbsp; 1883000 | &nbsp;&nbsp;Citigroup, Inc., 4.075%, 4/23/29 | &nbsp;&nbsp; 1878434 |
| &nbsp;&nbsp; 946000 | &nbsp;&nbsp;Citigroup, Inc., Ser W, 4.000%<sup>(C)</sup> | &nbsp;&nbsp; 942377 |
| &nbsp;&nbsp; 1321000 | &nbsp;&nbsp;Citizens Financial Group, Inc., 5.841%, 1/23/30 | &nbsp;&nbsp; 1376974 |
| &nbsp;&nbsp; 722000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 758564 |
| &nbsp;&nbsp; 135000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 135348 |
| &nbsp;&nbsp; 918000 | &nbsp;&nbsp;Encore Capital Group, Inc., 144a, 8.500%, 5/15/30 | &nbsp;&nbsp; 974848 |
| &nbsp;&nbsp; 1194000 | &nbsp;&nbsp;First Maryland Capital II, (TSFR3M + 1.112%), 5.408%, 2/1/27<sup>(B)</sup> | &nbsp;&nbsp; 1179248 |
| &nbsp;&nbsp; 946000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 998323 |
| &nbsp;&nbsp; 2294000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 5.330%, 7/23/35 | &nbsp;&nbsp; 2363318 |
| &nbsp;&nbsp; 1666000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 1667225 |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;Jefferies Finance LLC / JFIN Co-Issuer Corp., 144a, 6.625%, 10/15/31<sup>†</sup> | &nbsp;&nbsp; 975650 |
| &nbsp;&nbsp; 2186000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 1899847 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 49.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 9.9% (Continued)** |  |
| $965000 | &nbsp;&nbsp;Nationstar Mortgage Holdings, Inc., 144a, 6.500%, 8/1/29 | $990350 |
| &nbsp;&nbsp; 1318000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 5.003%, 6/1/28<sup>(B)</sup> | &nbsp;&nbsp; 1301652 |
| &nbsp;&nbsp; 2255000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 5.299%, 6/15/47<sup>(B)</sup> | &nbsp;&nbsp; 2040540 |
| &nbsp;&nbsp; 2337000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 5.143%, 5/15/27<sup>(B)</sup> | &nbsp;&nbsp; 2319565 |
|  |  | &nbsp;&nbsp; 29460664 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 7.3%** |  |
| &nbsp;&nbsp; 83000 | &nbsp;&nbsp;ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 83000 |
| &nbsp;&nbsp; 440000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 7.250%, 10/15/29 | &nbsp;&nbsp; 447582 |
| &nbsp;&nbsp; 907000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 892701 |
| &nbsp;&nbsp; 83000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.125%, 5/1/29 | &nbsp;&nbsp; 83000 |
| &nbsp;&nbsp; 1119000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 1060042 |
| &nbsp;&nbsp; 1152000 | &nbsp;&nbsp;Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | &nbsp;&nbsp; 1150472 |
| &nbsp;&nbsp; 2039000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 2050550 |
| &nbsp;&nbsp; 1115000 | &nbsp;&nbsp;Ford Motor Credit Co. LLC, 6.050%, 3/5/31 | &nbsp;&nbsp; 1141116 |
| &nbsp;&nbsp; 2679000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 2413577 |
| &nbsp;&nbsp; 435000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 434448 |
| &nbsp;&nbsp; 1624000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 1624265 |
| &nbsp;&nbsp; 931000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | &nbsp;&nbsp; 904986 |
| &nbsp;&nbsp; 1856000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | &nbsp;&nbsp; 1708672 |
| &nbsp;&nbsp; 2387000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 2324360 |
| &nbsp;&nbsp; 1326000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28 | &nbsp;&nbsp; 1215527 |
| &nbsp;&nbsp; 1147000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 1133446 |
| &nbsp;&nbsp; 2236000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 2202041 |
| &nbsp;&nbsp; 1061000 | &nbsp;&nbsp;Wynn Macau Ltd. (Macao), 144a, 5.625%, 8/26/28 | &nbsp;&nbsp; 1059993 |
|  |  | &nbsp;&nbsp; 21929778 |
|  | &nbsp;&nbsp;**Industrials — 6.1%** |  |
| &nbsp;&nbsp; 1860000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 5.100%, 3/17/30 | &nbsp;&nbsp; 1902540 |
| &nbsp;&nbsp; 786000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 759588 |
| &nbsp;&nbsp; 1873000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 1911077 |
| &nbsp;&nbsp; 950000 | &nbsp;&nbsp;Limak Cimento Sanayi ve Ticaret AS (Turkey), 9.750%, 7/25/29 | &nbsp;&nbsp; 975596 |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 1019780 |
| &nbsp;&nbsp; 2293000 | &nbsp;&nbsp;Molex Electronic Technologies LLC, 144a, 5.250%, 4/30/32 | &nbsp;&nbsp; 2334063 |
| &nbsp;&nbsp; 953000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 970846 |
| &nbsp;&nbsp; 1069000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | &nbsp;&nbsp; 1072550 |
| &nbsp;&nbsp; 928000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 977069 |
| &nbsp;&nbsp; 2171000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 6.208%, 2/15/42<sup>(B)</sup> | &nbsp;&nbsp; 1961716 |
| &nbsp;&nbsp; 2140000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 2152882 |
| &nbsp;&nbsp; 975000 | &nbsp;&nbsp;TK Elevator US Newco, Inc. (Germany), 144a, 5.250%, 7/15/27 | &nbsp;&nbsp; 971619 |
| &nbsp;&nbsp; 1069000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.375%, 3/1/29 | &nbsp;&nbsp; 1092879 |
|  |  | &nbsp;&nbsp; 18102205 |
|  | &nbsp;&nbsp;**Utilities — 3.9%** |  |
| &nbsp;&nbsp; 2356000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 2349049 |
| &nbsp;&nbsp; 2155000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 2101361 |
| &nbsp;&nbsp; 1522000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 1494263 |
| &nbsp;&nbsp; 1210000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | &nbsp;&nbsp; 1234387 |
| &nbsp;&nbsp; 1215000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 4.875%, 9/21/38 | &nbsp;&nbsp; 1144558 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Eskom Holdings (South Africa), 144a, 8.450%, 8/10/28 | &nbsp;&nbsp; 854767 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Strategic Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 49.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Utilities — 3.9% (Continued)** |  |
| $1716000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.250%, 4/20/46 | $1711560 |
| &nbsp;&nbsp; 845064 | &nbsp;&nbsp;Sorik Marapi Geothermal Power PT (Indonesia), 144a, 7.750%, 8/5/31 | &nbsp;&nbsp; 865898 |
|  |  | &nbsp;&nbsp; 11755843 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.9%** |  |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | &nbsp;&nbsp; 1006220 |
| &nbsp;&nbsp; 903000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | &nbsp;&nbsp; 937849 |
| &nbsp;&nbsp; 2264000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.000%, 3/1/32 | &nbsp;&nbsp; 2316863 |
| &nbsp;&nbsp; 2265000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 2364457 |
| &nbsp;&nbsp; 943000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 903870 |
| &nbsp;&nbsp; 1023000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 1082222 |
|  |  | &nbsp;&nbsp; 8611481 |
|  | &nbsp;&nbsp;**Real Estate — 2.8%** |  |
| &nbsp;&nbsp; 1143000 | &nbsp;&nbsp;RHP Hotel Properties LP / RHP Finance Corp. REIT, 144a, 4.500%, 2/15/29 | &nbsp;&nbsp; 1120857 |
| &nbsp;&nbsp; 2413000 | &nbsp;&nbsp;Sabra Health Care LP REIT, 3.900%, 10/15/29 | &nbsp;&nbsp; 2338294 |
| &nbsp;&nbsp; 2724000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.750%, 11/18/30 | &nbsp;&nbsp; 2476934 |
| &nbsp;&nbsp; 2363000 | &nbsp;&nbsp;VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.625%, 12/1/29 | &nbsp;&nbsp; 2340388 |
|  |  | &nbsp;&nbsp; 8276473 |
|  | &nbsp;&nbsp;**Communication Services — 2.1%** |  |
| &nbsp;&nbsp; 1740000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 1602904 |
| &nbsp;&nbsp; 716000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.625%, 12/1/30 | &nbsp;&nbsp; 251206 |
| &nbsp;&nbsp; 463000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 462258 |
| &nbsp;&nbsp; 728000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 5.375%, 11/15/31<sup>†</sup> | &nbsp;&nbsp; 544966 |
| &nbsp;&nbsp; 1240000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 1204430 |
| &nbsp;&nbsp; 2413000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 2339958 |
|  |  | &nbsp;&nbsp; 6405722 |
|  | &nbsp;&nbsp;**Information Technology — 2.1%** |  |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;Central Parent, Inc. / CDK Global, Inc., 144a, 7.250%, 6/15/29 | &nbsp;&nbsp; 834446 |
| &nbsp;&nbsp; 1370000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.000%, 10/15/26 | &nbsp;&nbsp; 1368287 |
| &nbsp;&nbsp; 1746000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 1553688 |
| &nbsp;&nbsp; 772000 | &nbsp;&nbsp;Micron Technology, Inc., 6.750%, 11/1/29 | &nbsp;&nbsp; 839041 |
| &nbsp;&nbsp; 1595000 | &nbsp;&nbsp;Paychex, Inc., 5.600%, 4/15/35 | &nbsp;&nbsp; 1670605 |
|  |  | &nbsp;&nbsp; 6266067 |
|  | &nbsp;&nbsp;**Health Care — 1.4%** |  |
| &nbsp;&nbsp; 995000 | &nbsp;&nbsp;Biocon Biologics Global PLC (India), 144a, 6.670%, 10/9/29 | &nbsp;&nbsp; 966840 |
| &nbsp;&nbsp; 1771000 | &nbsp;&nbsp;HCA, Inc., 5.450%, 4/1/31 | &nbsp;&nbsp; 1841653 |
| &nbsp;&nbsp; 1476000 | &nbsp;&nbsp;Pediatrix Medical Group, Inc., 144a, 5.375%, 2/15/30 | &nbsp;&nbsp; 1466254 |
|  |  | &nbsp;&nbsp; 4274747 |
|  | &nbsp;&nbsp;**Materials — 1.1%** |  |
| &nbsp;&nbsp; 923000 | &nbsp;&nbsp;Braskem Netherlands Finance BV (Brazil), 144a, 7.250%, 2/13/33 | &nbsp;&nbsp; 359970 |
| &nbsp;&nbsp; 1111000 | &nbsp;&nbsp;LYB International Finance III LLC, 6.150%, 5/15/35 | &nbsp;&nbsp; 1158086 |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;Novelis Corp., 144a, 6.875%, 1/30/30 | &nbsp;&nbsp; 1005835 |
| &nbsp;&nbsp; 794000 | &nbsp;&nbsp;Vedanta Resources Finance II PLC (India), 144a, 9.475%, 7/24/30 | &nbsp;&nbsp; 803426 |
|  |  | &nbsp;&nbsp; 3327317 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $148800444 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 18.6%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 18.6%** |
| $2245000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.250%, 8/15/54 | $2070749 |
| &nbsp;&nbsp; 250000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.500%, 11/15/54 | &nbsp;&nbsp; 240508 |
| &nbsp;&nbsp;16390000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | &nbsp;&nbsp; 16477072 |
| &nbsp;&nbsp;18685000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 18734632 |
| &nbsp;&nbsp; 4827028 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | &nbsp;&nbsp; 4704678 |
| &nbsp;&nbsp; 4355000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 4369120 |
| &nbsp;&nbsp; 4800000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 5/31/30 | &nbsp;&nbsp; 4857375 |
| &nbsp;&nbsp; 4025000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 4057703 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | $55511837 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 10.7%** | &nbsp;&nbsp;**Asset-Backed Securities — 10.7%** |
| &nbsp;&nbsp; 2469225 | &nbsp;&nbsp;AB Issuer LLC, Ser 2021-1, Class A2, 144a, 3.734%, 7/30/51 | &nbsp;&nbsp; 2336195 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Benefit Street Partners CLO XXII Ltd. (Cayman Islands), Ser 2020-22A, Class BRR, 144a, (TSFR3M + 1.550%), 5.875%, 4/20/35<sup>(B)</sup> | &nbsp;&nbsp; 1500127 |
| &nbsp;&nbsp; 1104600 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2023-1, Class E, 144a, 10.370%, 7/15/30 | &nbsp;&nbsp; 1202290 |
| &nbsp;&nbsp; 525000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Class E, 144a, 6.620%, 5/17/32 | &nbsp;&nbsp; 522713 |
| &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2022-4A, Class DR, 144a, (TSFR3M + 2.700%), 6.982%, 7/16/35<sup>(B)</sup> | &nbsp;&nbsp; 1456786 |
| &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;Dryden Senior Loan Fund (Cayman Islands), Ser 2016-45A, Class BRR, 144a, (TSFR3M + 1.650%), 5.968%, 10/15/30<sup>(B)</sup> | &nbsp;&nbsp; 1600514 |
| &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class BRRR, 144a, (TSFR3M + 1.650%), 5.968%, 4/16/34<sup>(B)</sup> | &nbsp;&nbsp; 1601000 |
| &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;Galaxy XXII CLO Ltd. (Cayman Islands), Ser 2016-22A, Class DRRR, 144a, (TSFR3M + 3.250%), 7.568%, 4/16/34<sup>(B)</sup> | &nbsp;&nbsp; 1600622 |
| &nbsp;&nbsp; 1315000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-2A, Class E, 144a, 7.730%, 6/15/32 | &nbsp;&nbsp; 1365101 |
| &nbsp;&nbsp; 2585250 | &nbsp;&nbsp;Hardee's Funding LLC, Ser 2021-1A, Class A2, 144a, 2.865%, 6/20/51 | &nbsp;&nbsp; 2397773 |
| &nbsp;&nbsp; 930000 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2II, 144a, 4.136%, 2/26/52 | &nbsp;&nbsp; 831512 |
| &nbsp;&nbsp; 2489500 | &nbsp;&nbsp;Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | &nbsp;&nbsp; 2358905 |
| &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;Octagon Investment Partners 39 Ltd. (Cayman Islands), Ser 2018-3A, Class BR, 144a, (TSFR3M + 1.800%), 6.125%, 10/20/30<sup>(B)</sup> | &nbsp;&nbsp; 2304646 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Octagon Investment Partners XVI Ltd. (Cayman Islands), Ser 2013-1A, Class BR, 144a, (TSFR3M + 1.862%), 6.184%, 7/17/30<sup>(B)</sup> | &nbsp;&nbsp; 1000948 |
| &nbsp;&nbsp; 1170000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2024-A, Class B, 144a, 7.548%, 1/14/32 | &nbsp;&nbsp; 1170873 |
| &nbsp;&nbsp; 510000 | &nbsp;&nbsp;Oxford Finance Credit Fund III LP, Ser 2025-A, Class B, 144a, 7.194%, 8/14/34 | &nbsp;&nbsp; 508837 |
| &nbsp;&nbsp; 2020000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class C, 144a, (TSFR3M + 2.500%), 6.788%, 7/15/33<sup>(B)</sup> | &nbsp;&nbsp; 2026177 |
| &nbsp;&nbsp; 2222550 | &nbsp;&nbsp;Planet Fitness Master Issuer LLC, Ser 2024-1A, Class A2II, 144a, 6.237%, 6/5/54 | &nbsp;&nbsp; 2266869 |
| &nbsp;&nbsp; 2456438 | &nbsp;&nbsp;TSC SPV Funding LLC, Ser 2024-1A, Class A2, 144a, 6.291%, 8/20/54 | &nbsp;&nbsp; 2495713 |
| &nbsp;&nbsp; 1632000 | &nbsp;&nbsp;Zaxbys Funding LLC, Ser 2021-1A, Class A2, 144a, 3.238%, 7/30/51 | &nbsp;&nbsp; 1539522 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | $32087123 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.4%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.4%** |
| &nbsp;&nbsp; 835000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57<sup>(B)(D)</sup> | &nbsp;&nbsp; 877153 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Strategic Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.4% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 7.4% (Continued)** |
| $2325000 | &nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2018-B5, Class AS, 4.419%, 7/15/51 | $2278629 |
| &nbsp;&nbsp;21001774 | &nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2024-V5, Class XA, 1.298%, 1/10/57<sup>(B)(D)(E)</sup> | &nbsp;&nbsp; 661875 |
| &nbsp;&nbsp; 1056765 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2024-XL5, Class D, 144a, (TSFR1M + 2.690%), 6.840%, 3/15/41<sup>(B)</sup> | &nbsp;&nbsp; 1058747 |
| &nbsp;&nbsp; 2735000 | &nbsp;&nbsp;BX Trust, Ser 2019-OC11, Class E, 144a, 4.075%, 12/9/41<sup>(B)(D)</sup> | &nbsp;&nbsp; 2520181 |
| &nbsp;&nbsp; 2750000 | &nbsp;&nbsp;CGMS Commercial Mortgage Trust, Ser 2017-B1, Class D, 144a, 3.000%, 8/15/50 | &nbsp;&nbsp; 2355230 |
| &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C2, Class C, 4.031%, 8/10/49<sup>(B)(D)</sup> | &nbsp;&nbsp; 1721920 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-P5, Class B, 3.698%, 10/10/49<sup>(B)(D)</sup> | &nbsp;&nbsp; 925946 |
| &nbsp;&nbsp; 485000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50<sup>(B)(D)</sup> | &nbsp;&nbsp; 456302 |
| &nbsp;&nbsp; 905000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class B, 3.924%, 1/15/49<sup>(B)(D)</sup> | &nbsp;&nbsp; 864298 |
| &nbsp;&nbsp; 1850000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class C, 5.087%, 1/15/49<sup>(B)(D)</sup> | &nbsp;&nbsp; 1729593 |
| &nbsp;&nbsp; 1199000 | &nbsp;&nbsp;CSMC, Ser 2017-TIME, Class A, 144a, 3.646%, 11/13/39 | &nbsp;&nbsp; 1132634 |
| &nbsp;&nbsp; 825000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 800250 |
| &nbsp;&nbsp; 1865000 | &nbsp;&nbsp;KSL Commercial Mortgage Trust, Ser 2024-HT2, Class C, 144a, (TSFR1M + 2.341%), 6.491%, 12/15/39<sup>(B)</sup> | &nbsp;&nbsp; 1865583 |
| &nbsp;&nbsp; 540000 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | &nbsp;&nbsp; 527339 |
| &nbsp;&nbsp; 620000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2015-P2, Class AS, 4.013%, 12/15/48 | &nbsp;&nbsp; 617156 |
| &nbsp;&nbsp; 1625000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2025-AURA, Class D, 144a, (TSFR1M + 2.891%), 6.991%, 10/15/42<sup>(B)</sup> | &nbsp;&nbsp; 1620937 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | $22013773 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 7.0%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 7.0%** |
| &nbsp;&nbsp; 1334357 | &nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53<sup>(B)(D)</sup> | &nbsp;&nbsp; 1316467 |
| &nbsp;&nbsp; 2317172 | &nbsp;&nbsp;Chase Home Lending Mortgage Trust, Ser 2024-RPL4, Class A1B, 144a, 3.375%, 12/25/64<sup>(B)(D)</sup> | &nbsp;&nbsp; 2070870 |
| &nbsp;&nbsp; 1807571 | &nbsp;&nbsp;CIM Trust, Ser 2021-J3, Class A7, 144a, 2.500%, 6/25/51<sup>(B)(D)</sup> | &nbsp;&nbsp; 1615180 |
| &nbsp;&nbsp; 1097967 | &nbsp;&nbsp;COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67<sup>(B)(D)</sup> | &nbsp;&nbsp; 1093728 |
| &nbsp;&nbsp; 988276 | &nbsp;&nbsp;Flagstar Mortgage Trust, Ser 2021-5INV, Class A16, 144a, 2.500%, 7/25/51<sup>(B)(D)</sup> | &nbsp;&nbsp; 813281 |
| &nbsp;&nbsp; 1031413 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2021-MM1, Class A6, 144a, 2.500%, 4/25/52<sup>(B)(D)</sup> | &nbsp;&nbsp; 914816 |
| &nbsp;&nbsp; 1013639 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-1, Class B1, 144a, 4.477%, 5/25/49<sup>(B)(D)</sup> | &nbsp;&nbsp; 963074 |
| &nbsp;&nbsp; 2496512 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-5, Class B4, 144a, 3.574%, 12/25/50<sup>(B)(D)</sup> | &nbsp;&nbsp; 2166662 |
| &nbsp;&nbsp; 1217670 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2020-LTV2, Class B4, 144a, 4.012%, 11/25/50<sup>(B)(D)</sup> | &nbsp;&nbsp; 1085327 |
| &nbsp;&nbsp; 1063961 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(B)(D)</sup> | &nbsp;&nbsp; 960921 |
| &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-2, Class B2, 144a, 4.168%, 7/25/59<sup>(B)(D)</sup> | &nbsp;&nbsp; 2317220 |
| &nbsp;&nbsp; 698259 | &nbsp;&nbsp;OBX Trust, Ser 2022-J1, Class B1A, 144a, 2.843%, 2/25/52<sup>(B)(D)</sup> | &nbsp;&nbsp; 595445 |
| &nbsp;&nbsp; 2375000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2015-2, Class 1B3, 144a, 3.705%, 11/25/60<sup>(B)(D)</sup> | &nbsp;&nbsp; 2172727 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 7.0%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 7.0%<br> (Continued)** |
| $2000000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-3, Class B3, 144a, 3.862%, 7/25/57<sup>(B)(D)</sup> | $1742458 |
| &nbsp;&nbsp; 1465000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2020-4, Class A2, 144a, 2.500%, 10/25/60 | &nbsp;&nbsp; 1204973 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | $21033149 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Common Stocks — 2.1%** |  |
|  | &nbsp;&nbsp;**Financials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14115 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 728193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 853687 |
|  |  | &nbsp;&nbsp; 1581880 |
|  | &nbsp;&nbsp;**Industrials — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 740770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7619 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 566320 |
|  |  | &nbsp;&nbsp; 1307090 |
|  | &nbsp;&nbsp;**Information Technology — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2396 | &nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 676056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 603553 |
|  |  | &nbsp;&nbsp; 1279609 |
|  | &nbsp;&nbsp;**Materials — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39560 | &nbsp;&nbsp;Covia Equity\* | &nbsp;&nbsp; 786255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;HC Minerals LLC<sup>(A)</sup>\* | &nbsp;&nbsp; 44 |
|  |  | &nbsp;&nbsp; 786299 |
|  | &nbsp;&nbsp;**Health Care — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 665843 |
|  | &nbsp;&nbsp;**Energy — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4983 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 561833 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;&nbsp;&nbsp;$6182554 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  |  |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.5%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.5%** |
| $21600 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.717%, 7/3/26<sup>#</sup> | &nbsp;&nbsp; 20844 |
| &nbsp;&nbsp; 430130 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.962%, 1/3/30<sup>#</sup> | &nbsp;&nbsp; 368026 |
| &nbsp;&nbsp; 326700 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 5.000%, 7/3/29<sup>(B)(D)</sup> | &nbsp;&nbsp; 317677 |
| &nbsp;&nbsp; 668680 | &nbsp;&nbsp;Sri Lanka Government International Bond, 144a, 4.000%, 4/15/28 | &nbsp;&nbsp; 638924 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;$1345471 |

---

---

| | | |
|:---|:---|:---|
| **Number of<br> Rights** |  |  |
|  | &nbsp;&nbsp;**Rights — 0.0%** |  |
|  | &nbsp;&nbsp;**Energy — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27942 | &nbsp;&nbsp;Vistra Energy Corp. Tax Return Rights, 12/6/26\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34229 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Strategic Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 4.1%** |  |
| 11459926 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 4.04%<sup>∞Ω</sup> | $11459926 |
| &nbsp;&nbsp;&nbsp;&nbsp;780305 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.05%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 780305 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | $12240231 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.2%<br> (Cost $296,199,467)** | $299248811 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.2%)** | &nbsp;&nbsp;&nbsp; (673027) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $298575784 |

---

---

| | |
|:---|:---|
| *(A)* | *Level 3- 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.* |
| *(B)* | *Variable rate security - Rate reflected is the rate in effect as of September 30, 2025.* |
| *(C)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *(D)* | *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.* |
| *(E)* | *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 September 30, 2025 was $745,302.* |
| *#* | *Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of September 30, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *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 September 30, 2025, these securities were valued at $146,676,108 or 49.1% 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*** |
| ***Assets:*** |  |  |  |  |
| *Corporate Bonds* | *$—* | *$148735585* | *$64859* | *$148800444* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*55511837* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*55511837* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*32087123* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*32087123* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*22013773* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*22013773* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*21033149* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*21033149* |
| *Common Stocks* | &nbsp;&nbsp;&nbsp;&nbsp;*5396255* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*786255* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*44* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6182554* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1345471* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1345471* |
| *Rights* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*34229* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*34229* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;*12240231* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12240231* |
| ***Other Financial Instruments*** |  |  |  |  |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*18053* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*18053* |
| *Total Assets* | *$17654539* | *$281547422* | *$64903* | *$299266864* |
| ***Liabilities:*** |  |  |  |  |
| ***Other Financial Instruments*** |  |  |  |  |
| *Futures* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Interest rate contracts* | *$(237421)* | *$—* | *$—* | *$(237421)* |
| *Total Liabilities* | *$(237421)* | *$—* | *$—* | *$(237421)* |
| *Total* | *$17417118* | *$281547422* | *$64903* | *$299029443* |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Touchstone Strategic Income Fund (Unaudited) (Continued)

#### Futures Contracts
*At September 30, 2025, $708,516 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at September 30, 2025:*

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Description*** | &nbsp;&nbsp;&nbsp;***Expiration Date*** | &nbsp;&nbsp;&nbsp;***Number of<br> Contracts*** | &nbsp;&nbsp;&nbsp;***Notional Value*** | &nbsp;&nbsp;&nbsp;***Unrealized<br> Appreciation/<br> Depreciation*** |
| *Short Futures:* |  |  |  |  |
| *30-Year U.S. Ultra Treasury Bond* | &nbsp;&nbsp;&nbsp;*12/19/2025* | &nbsp;&nbsp;&nbsp;*119* | &nbsp;&nbsp;&nbsp;*$14287437* | &nbsp;&nbsp;&nbsp;*$18053* |
| *Long Futures:* |  |  |  |  |
| *2-Year U.S. Treasury Note* | &nbsp;&nbsp;&nbsp;*12/31/2025* | &nbsp;&nbsp;&nbsp;*560* | &nbsp;&nbsp;&nbsp;&nbsp;*116703125* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(237421)* |
|  |  |  |  | &nbsp;&nbsp;&nbsp;*$(219368)* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Assets and Liabilities

September 30, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large<br> Cap Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible<br> Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic<br> Income<br> Fund** |
| **Assets** |  |  |  |  |  |  |  |
| Investments, at cost | $91491922 | $1756349858 | $604472956 | $1067481071 | $827984561 | $1367836129 | $296199467 |
| Investments, at market value \* | $160544944 | $1764647957 | $1413281909 | $1422866880 | $1115422987 | $2085124592 | $299248811 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20176 |  | &nbsp;&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;41735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875451 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184872 |
| Cash deposits held at prime broker <sup>(A)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296125 |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708516 |
| Foreign currency † |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9289556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14314823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858536 |
| Receivable for capital shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3424232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3328321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443530 |
| Receivable for investments sold |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706909 |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8508170 |
| Receivable for variation margin on futures contracts |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128188 |
| Tax reclaim receivable |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8496 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2816 |
| **Total Assets** | &nbsp;&nbsp;&nbsp;&nbsp;160604255 | &nbsp;&nbsp;&nbsp;&nbsp;1782693235 | &nbsp;&nbsp;&nbsp;&nbsp;1414572857 | &nbsp;&nbsp;&nbsp;&nbsp;1424217340 | &nbsp;&nbsp;&nbsp;&nbsp;1120686807 | &nbsp;&nbsp;&nbsp;&nbsp;2099350279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312092121 |
| **Liabilities** |  |  |  |  |  |  |  |
| Due to custodian |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36685 |  |
| Dividends payable |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Payable for return of collateral for securities on loan |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4769000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5530000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7001373 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780305 |
| Deferred foreign capital gains tax |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32516941 |  |
| Payable for capital shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12558771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517392 |
| Payable for investments purchased |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702986 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3752526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11949309 |
| Payable to Investment Adviser | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106150 |
| Payable to other affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50779 |
| Payable to Trustees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15540 |
| Payable for professional services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27266 |
| Payable for reports to shareholders |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26639 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708 |
| Payable for transfer agent services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58237 |
| Other accrued expenses and liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9640 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21021934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7959591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8928186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39954730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13516337 |
| **Net Assets** | $159333871 | $1761671301 | $1406613266 | $1421718635 | $1111758621 | $2059395549 | $298575784 |
| **Net assets consist of:** |  |  |  |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67870083 | &nbsp;&nbsp;&nbsp;&nbsp;1778951072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554559156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885255802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775558200 | &nbsp;&nbsp;&nbsp;&nbsp;2228042017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373795252 |
| Distributable earnings (deficit) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91463788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17279771) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852054110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536462833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336200421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168646468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75219468) |
| Net Assets | $159333871 | $1761671301 | $1406613266 | $1421718635 | $1111758621 | $2059395549 | $298575784 |
| *\*Includes market value of securities on loan of:* | *$—* | *$4653147* | *$5345500* | *$—* | *$6858009* | *$—* | *$745302* |
| *†Cost of foreign currency:* | *$—* | *$—* | *$—* | *$—* | *$1996* | *$9290832* | *$181* |

---

*<sup>(A)</sup>* *Represents segregated cash for futures contracts and swap agreements.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Assets and Liabilities (Unaudited) (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large<br> Cap Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible<br> Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic<br> Income<br> Fund** |
| **Pricing of Class A Shares** |  |  |  |  |  |  |  |
| Net assets applicable to Class A shares | $76246121 | $116165409 | $69833814 | $256500707 | $541342614 | $9337437 | $122665535 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11135031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17616627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37342079 |
| Net asset value price per share\* | $58.68 | $10.43 | $82.55 | $42.62 | $30.73 | $16.88 | $3.28 |
| 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% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25% |
| Maximum offering price per share<br> (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) - Class A shares | $61.77 | $10.78 | $86.89 | $44.86 | $32.35 | $17.77 | $3.39 |
| **Pricing of Class C Shares** |  |  |  |  |  |  |  |
| Net assets applicable to Class C shares | $1721031 | $31412533 | $5944991 | $13831990 | $6819449 | $5137704 | $7973617 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415170 |
| Net asset value and offering price per share\*\* | $57.26 | $10.23 | $73.21 | $41.52 | $31.05 | $16.16 | $3.30 |
| **Pricing of Class Y Shares** |  |  |  |  |  |  |  |
| Net assets applicable to Class Y shares | $38383901 | $1552491625 | $1308273996 | $723153374 | $514246360 | $497838076 | $77815813 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148232576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15580585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15766351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15922597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29048614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23766748 |
| Net asset value, offering price and redemption price per share | $63.09 | $10.47 | $83.97 | $45.87 | $32.30 | $17.14 | $3.27 |
| **Pricing of Institutional Class Shares** |  |  |  |  |  |  |  |
| Net assets applicable to Institutional Class shares | $42979686 | $61601734 | $22560465 | $223044805 | $49350198 | $896535791 | $90120819 |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5884059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4762626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51924798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27544184 |
| Net asset value, offering price and redemption price per share | $64.86 | $10.47 | $84.46 | $46.83 | $32.33 | $17.27 | $3.27 |
| **Pricing of Class R6 Shares** |  |  |  |  |  |  |  |
| Net assets applicable to Class R6 shares | $3132 | $— | $— | $205187759 | $— | $650546541 | $— |
| Shares of beneficial interest outstanding<br> (unlimited number of shares authorized, no par value) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359175 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37640616 |  |
| Net asset value, offering price and redemption price per share | $64.89 | $— | $— | $47.07 | $— | $17.28 | $— |

---

*\** *There is no sales load on subscriptions of $1 million or more for all funds except for Flexible Income Fund and Strategic Income Fund. There is no sales load on subscriptions of $500,000 or more for Flexible Income Fund and Strategic Income 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_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Operations For the Six Months Ended September 30, 2025 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large<br> Cap Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible<br> Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic<br> Income<br> Fund** |
| **Investment Income** |  |  |  |  |  |  |  |
| Dividends\* | $366983 | $5995747 | $7619745 | $5790903 | $14902124 | $15970231 | $196550 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;43674267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8095676 |
| Income from securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49676657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7624808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15134761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15998593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8292226 |
| **Expenses** |  |  |  |  |  |  |  |
| Investment advisory fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4688660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8318147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790708 |
| Administration fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195013 |
| Compliance fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 |
| Custody fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19783 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24817 |
| Transfer Agent fees, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55219 |
| Transfer Agent fees, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4936 |
| Transfer Agent fees, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35526 |
| Transfer Agent fees, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27765 |
| Transfer Agent fees, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &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;10917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15180 |
| Registration fees, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9329 |
| Registration fees, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13975 |
| Registration fees, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12185 |
| Registration fees, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11039 | &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;3998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6982 |
| Reports to Shareholders, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405 |
| Reports to Shareholders, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4841 |
| Reports to Shareholders, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3373 |
| Reports to Shareholders, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distribution and shareholder servicing expenses, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151012 |
| Distribution and shareholder servicing expenses, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44734 |
| Trustee fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15756 |
| Other expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42746 |
| **Total Expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6931465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5798719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6869706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4878006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10546679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478275 |
| Fees waived and/or reimbursed by the Adviser and/or Affiliates<sup>(A)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185272) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163347) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(344802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231759) |
| Fees eligible for recoupment by the Adviser<sup>(A)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;657695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7035808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5780884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6730053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10201877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246516 |
| **Net Investment Income (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290712) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42640849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(939150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10275900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5796716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7045710 |
| **Realized and Unrealized Gains (Losses) on Investments** |  |  |  |  |  |  |  |
| Net realized gains (losses) on investments<sup>(B)(C)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;23012631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5802707) | &nbsp;&nbsp;&nbsp;&nbsp;45302828 | &nbsp;&nbsp;&nbsp;&nbsp;144712395 | &nbsp;&nbsp;&nbsp;&nbsp;23534819 | &nbsp;&nbsp;&nbsp;&nbsp;21371131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486069 |
| Net realized gains on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&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 futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689502 |
| Net realized gains (losses) on swap agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21199) |
| Net realized gains (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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(766422) | &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;16365309 | &nbsp;&nbsp;&nbsp;&nbsp;26351394 | &nbsp;&nbsp;&nbsp;&nbsp;161113769 | &nbsp;&nbsp;&nbsp;&nbsp;147850561 | &nbsp;&nbsp;&nbsp;&nbsp;104436843 | &nbsp;&nbsp;&nbsp;&nbsp;283274703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4688079 |
| Net change in unrealized appreciation (depreciation) on futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(556482) |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 |
| **Net Realized and Unrealized Gains (Losses) on Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39377940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21466063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206416597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292562956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128078366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303748060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7285983 |
| **Change in Net Assets Resulting from Operations** | $39087228 | $64106912 | $208260521 | $291623806 | $138354266 | $309544776 | $14331693 |
| *\*Net of foreign tax withholding of:* | *$437* | *$4434* | *$87340* | *$9852* | *$1246911* | *$1696529* | *$—* |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Operations (Unaudited) (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large<br> Cap Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible<br> Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Focused<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic<br> Income<br> Fund** |
| *†Includes increase in deferred foreign capital gain tax of:* | *$—* | *$—* | *$—* | *$—* | *$—* | *$14594779* | *$—* |

---

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

*<sup>(B)</sup>* *Includes foreign capital gains taxes paid of $7,395,293 for the Sands Capital Emerging Markets Growth Fund.* 

*<sup>(C)</sup>* *Net realized gains on investments includes the realized gains of $1,307,993, $18,897,714 and $29,728,789 for the Dynamic Large Cap Growth Fund, the Focused Fund and the Mid Cap Growth 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_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Changes in Net Assets

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Focused Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Focused Fund** |
|  | **For the<br> Six Months Ended<br> September 30,<br> 2025<sup>(A)</sup><br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** |
| **From Operations** |  |  |  |  |  |  |
| Net investment income (loss) | $(290712) | &nbsp;&nbsp;&nbsp;$(564032) | &nbsp;&nbsp;&nbsp;$42640849 | &nbsp;&nbsp;&nbsp;$69276153 | &nbsp;&nbsp;&nbsp;$1843924 | &nbsp;&nbsp;&nbsp;$5281214 |
| Net realized gains (losses) on investments, written options, futures contracts, swap agreements and foreign currency transactions | &nbsp;&nbsp;&nbsp;23012631 | &nbsp;&nbsp;&nbsp;&nbsp;19151411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4885331) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4884616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45302828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46198294 |
| Net change in unrealized appreciation (depreciation) on investments, futures contracts and foreign currency transactions | &nbsp;&nbsp;&nbsp;16365309 | &nbsp;&nbsp;&nbsp;&nbsp;(12842263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26351394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8423114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161113769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36010447 |
| **Change in Net Assets from Operations** | &nbsp;&nbsp;&nbsp;39087228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5745116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64106912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72814651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208260521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87489955 |
| **Distributions to Shareholders:** |  |  |  |  |  |  |
| Distributed earnings, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4144616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2871903) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5026762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537972) |
| Distributed earnings, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(658221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1172389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41222) |
| Distributed earnings, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2322996) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37560866) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58654489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13162966) |
| Distributed earnings, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2949415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1517581) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2134629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245274) |
| Distributed earnings, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Return of capital, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Return of capital, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Return of capital, Class Y | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Return of capital, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Return of capital, Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9509124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42608571) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66988269) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13987434) |
| **Change in Net Assets from Share Transactions<sup>(B)</sup>** | &nbsp;&nbsp;&nbsp;(22746717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54661975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319442499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41328946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88085023) |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;16340511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2877360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76160316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325268881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166931575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14582502) |
| **Net Assets** |  |  |  |  |  |  |
| Beginning of period | &nbsp;&nbsp;142993360 | &nbsp;&nbsp;&nbsp;&nbsp;145870720 | &nbsp;&nbsp;&nbsp;&nbsp;1685510985 | &nbsp;&nbsp;&nbsp;&nbsp;1360242104 | &nbsp;&nbsp;&nbsp;&nbsp;1239681691 | &nbsp;&nbsp;&nbsp;&nbsp;1254264193 |
| End of period | $159333871 | &nbsp;&nbsp;&nbsp;$142993360 | &nbsp;&nbsp;&nbsp;$1761671301 | &nbsp;&nbsp;&nbsp;$1685510985 | &nbsp;&nbsp;&nbsp;$1406613266 | &nbsp;&nbsp;&nbsp;$1239681691 |

---

*(A)* *Represents the period from commencement of operations (May 9, 2025) through September 30, 2025 for Class R6 shares.* 

*(B)* *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_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Changes in Net Assets (Continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone<br> Mid Cap<br> Growth Fund** | **Touchstone<br> Mid Cap<br> Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** | &nbsp;&nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** |
| **For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**For the<br> Six Months Ended<br> September 30,<br> 2025<br> (Unaudited)** | &nbsp;&nbsp;&nbsp;**For the<br> Year Ended<br> March 31,<br> 2025** |
| $(939150) | &nbsp;&nbsp;&nbsp;$(5692165) | &nbsp;&nbsp;&nbsp;$10275900 | &nbsp;&nbsp;&nbsp;$11255192 | &nbsp;&nbsp;&nbsp;$5796716 | &nbsp;&nbsp;&nbsp;$4910832 | &nbsp;&nbsp;&nbsp;$7045710 | &nbsp;&nbsp;&nbsp;$11463619 |
| &nbsp;&nbsp;&nbsp;144712395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135881707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23564811 | &nbsp;&nbsp;&nbsp;&nbsp;30304784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20604709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90809404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6151004) |
| &nbsp;&nbsp;&nbsp;147850561 | &nbsp;&nbsp;&nbsp;&nbsp;(188564987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104513555 | &nbsp;&nbsp;&nbsp;&nbsp;33023690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283143351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51163912) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4131611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8506331 |
| &nbsp;&nbsp;&nbsp;291623806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58375445) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138354266 | &nbsp;&nbsp;&nbsp;&nbsp;74583666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309544776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44556324 | &nbsp;&nbsp;&nbsp;&nbsp;14331693 | &nbsp;&nbsp;&nbsp;&nbsp;13818946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7250235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15267231) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2833397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5434455) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(400530) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173369) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(478603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17945134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6071452) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(557129) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1964440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2991900) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6737097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1180182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1551125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2067260) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2520632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5201640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1428804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242880) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21390) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133716) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(112654) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37534636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(22592007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3537058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7038466) | &nbsp;&nbsp;&nbsp;&nbsp;(11936230) |
| &nbsp;&nbsp;&nbsp;&nbsp;(91282767) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98008921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225240561 | &nbsp;&nbsp;&nbsp;&nbsp;52334928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62524830) | &nbsp;&nbsp;&nbsp;&nbsp;(427444086) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5776242) | &nbsp;&nbsp;&nbsp;&nbsp;91562594 |
| &nbsp;&nbsp;&nbsp;200341039 | &nbsp;&nbsp;&nbsp;&nbsp;(193919002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363594827 | &nbsp;&nbsp;&nbsp;&nbsp;104326587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247019946 | &nbsp;&nbsp;&nbsp;&nbsp;(386424820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516985 | &nbsp;&nbsp;&nbsp;&nbsp;93445310 |
| 1221377596 | &nbsp;&nbsp;&nbsp;&nbsp;1415296598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748163794 | &nbsp;&nbsp;&nbsp;&nbsp;643837207 | &nbsp;&nbsp;&nbsp;&nbsp;1812375603 | &nbsp;&nbsp;&nbsp;&nbsp;2198800423 | &nbsp;&nbsp;&nbsp;&nbsp;297058799 | &nbsp;&nbsp;&nbsp;&nbsp;203613489 |
| $1421718635 | &nbsp;&nbsp;&nbsp;$1221377596 | &nbsp;&nbsp;&nbsp;$1111758621 | &nbsp;&nbsp;&nbsp;$748163794 | &nbsp;&nbsp;&nbsp;$2059395549 | &nbsp;&nbsp;&nbsp;$1812375603 | &nbsp;&nbsp;&nbsp;$298575784 | &nbsp;&nbsp;&nbsp;$297058799 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Statements of Changes in Net Assets - Capital Stock Activity

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | **Touchstone<br> Dynamic Large Cap<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** | &nbsp;&nbsp;**Touchstone<br> Flexible Income<br> Fund** |
|  | **For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)<sup>(A)</sup>** | **For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)<sup>(A)</sup>** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 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;23587 | $1201189 | &nbsp;&nbsp;&nbsp;74607 | $3621938 | &nbsp;&nbsp;&nbsp;1068425 | $10991906 | &nbsp;&nbsp;&nbsp;3418709 | $35311020 |
| 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;75754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970280 | &nbsp;&nbsp;&nbsp;&nbsp;236147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435882 | &nbsp;&nbsp;&nbsp;&nbsp;400367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4124767 |
| Cost of Shares redeemed | (107171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5434512) | (150566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7398688) | &nbsp;&nbsp;&nbsp;(2430027) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25070422) | &nbsp;&nbsp;&nbsp;(3167929) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32709954) |
| **Change from Class A Share Transactions** | &nbsp;&nbsp;(83584) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4233323) | &nbsp;&nbsp;&nbsp;&nbsp;(205) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193530 | &nbsp;&nbsp;(1125455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11642634) | &nbsp;&nbsp;&nbsp;&nbsp;651147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6725833 |
| **Class C** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;2436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126354 | &nbsp;&nbsp;&nbsp;11086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530233 | &nbsp;&nbsp;&nbsp;&nbsp;147806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497258 | &nbsp;&nbsp;&nbsp;&nbsp;884014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9004081 |
| 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;1777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641549 | &nbsp;&nbsp;&nbsp;&nbsp;112584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138656 |
| Cost of Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;(4699) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236793) | &nbsp;&nbsp;&nbsp;&nbsp;(9332) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(440444) | &nbsp;&nbsp;&nbsp;&nbsp;(469259) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4746840) | &nbsp;&nbsp;&nbsp;(1002022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10163462) |
| **Change from Class C Share Transactions** | &nbsp;&nbsp;&nbsp;(2263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110439) | &nbsp;&nbsp;&nbsp;&nbsp;3531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181200 | &nbsp;&nbsp;&nbsp;&nbsp;(258080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2608033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20725) |
| **Class Y** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;41216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209088 | &nbsp;&nbsp;146534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7657347 | &nbsp;&nbsp;25676746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265745408 | &nbsp;&nbsp;63198119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654982797 |
| 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;40566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280626 | &nbsp;&nbsp;&nbsp;3439047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35617278 | &nbsp;&nbsp;&nbsp;5409013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55958770 |
| Cost of Shares redeemed | (109234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6191352) | (190680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10303051) | (23528833) | &nbsp;&nbsp;&nbsp;&nbsp;(243232264) | &nbsp;&nbsp;(39357026) | &nbsp;&nbsp;&nbsp;&nbsp;(407308342) |
| **Change from Class Y Share Transactions** | &nbsp;&nbsp;(68018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3982264) | &nbsp;&nbsp;&nbsp;(3580) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(365078) | &nbsp;&nbsp;&nbsp;5586960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58130422 | 29250106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303633225 |
| **Institutional Class** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;251537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14142678 | &nbsp;&nbsp;660620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35369916 | &nbsp;&nbsp;&nbsp;1899720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19587688 | &nbsp;&nbsp;&nbsp;2204280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22857511 |
| 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;51049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948579 | &nbsp;&nbsp;&nbsp;&nbsp;103562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072360 | &nbsp;&nbsp;&nbsp;&nbsp;123326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274862 |
| Cost of Shares redeemed | (533903) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28565869) | (706316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37441499) | &nbsp;&nbsp;&nbsp;&nbsp;(955370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9877828) | &nbsp;&nbsp;&nbsp;(1447569) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15028207) |
| **Change from Institutional Class Share Transactions** | (282366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14423191) | &nbsp;&nbsp;&nbsp;&nbsp;5353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876996 | &nbsp;&nbsp;&nbsp;1047912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10782220 | &nbsp;&nbsp;&nbsp;&nbsp;880037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9104166 |
| **Class R6** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Change from Class R6 Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&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** | (436183) | $(22746717) | &nbsp;&nbsp;&nbsp;&nbsp;5099 | $886648 | &nbsp;&nbsp;&nbsp;5251337 | $54661975 | 30775866 | $319442499 |

---

*(A)* *Represents the period from commencement of operations (May 9, 2025) through September 30, 2025 for Class R6 shares.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Touchstone<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Focused Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Mid Cap<br> Growth Fund** |
| &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 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;&nbsp;46180 | $3452637 | &nbsp;&nbsp;&nbsp;&nbsp;130040 | $9221994 | &nbsp;&nbsp;&nbsp;&nbsp;163574 | $6442111 | &nbsp;&nbsp;&nbsp;&nbsp;375952 | $13848884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;162502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6526070 |
| &nbsp;&nbsp;&nbsp;(66468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4998403) | &nbsp;&nbsp;&nbsp;&nbsp;(130721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9222445) | &nbsp;&nbsp;&nbsp;&nbsp;(547166) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21511216) | &nbsp;&nbsp;(1068218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39142818) |
| &nbsp;&nbsp;&nbsp;(20288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1545766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455245 | &nbsp;&nbsp;&nbsp;(383592) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15069105) | &nbsp;&nbsp;&nbsp;(529764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18767864) |
| &nbsp;&nbsp;&nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392772 |
| &nbsp;&nbsp;&nbsp;(22508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1474770) | &nbsp;&nbsp;&nbsp;&nbsp;(86392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5452106) | &nbsp;&nbsp;&nbsp;&nbsp;(51798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1955131) | &nbsp;&nbsp;&nbsp;&nbsp;(126893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4473047) |
| &nbsp;&nbsp;&nbsp;(18273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1185571) | &nbsp;&nbsp;&nbsp;&nbsp;(74078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4670004) | &nbsp;&nbsp;&nbsp;&nbsp;(29204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1073071) | &nbsp;&nbsp;&nbsp;&nbsp;(52999) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1746514) |
| &nbsp;&nbsp;&nbsp;108648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8339638 | &nbsp;&nbsp;&nbsp;&nbsp;272278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19706200 | &nbsp;&nbsp;&nbsp;1749444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74050638 | &nbsp;&nbsp;&nbsp;3502271 | &nbsp;&nbsp;&nbsp;&nbsp;137631319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;167225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12659651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;401301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17312129 |
| &nbsp;&nbsp;(600976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45769656) | &nbsp;&nbsp;(1625249) | &nbsp;&nbsp;&nbsp;&nbsp;(116462295) | &nbsp;&nbsp;(2055321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85115989) | &nbsp;&nbsp;(5841077) | &nbsp;&nbsp;&nbsp;&nbsp;(226765894) |
| (492328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37430018) | (1185746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84096444) | &nbsp;&nbsp;&nbsp;(305877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11065351) | (1937505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71822446) |
| &nbsp;&nbsp;&nbsp;438088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33735462 | &nbsp;&nbsp;&nbsp;1313020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94763512 | &nbsp;&nbsp;&nbsp;2641218 | &nbsp;&nbsp;&nbsp;&nbsp;113928098 | &nbsp;&nbsp;&nbsp;4059359 | &nbsp;&nbsp;&nbsp;&nbsp;161637963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;143862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331348 |
| &nbsp;&nbsp;(450907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34903053) | &nbsp;&nbsp;(1314034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94763261) | &nbsp;&nbsp;(3651099) | &nbsp;&nbsp;&nbsp;&nbsp;(158514234) | &nbsp;&nbsp;(4998728) | &nbsp;&nbsp;&nbsp;&nbsp;(200427332) |
| &nbsp;&nbsp;&nbsp;(12819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1167591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226180 | (1009881) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44586136) | &nbsp;&nbsp;&nbsp;(795507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32458021) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;550482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24038598 | &nbsp;&nbsp;&nbsp;1824349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73104445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3548210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(987371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43527702) | &nbsp;&nbsp;(1241814) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49866731) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(436889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19489104) | &nbsp;&nbsp;&nbsp;&nbsp;662811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26785924 |
| (543708) | $(41328946) | (1252468) | $(88085023) | (2165443) | $(91282767) | (2652964) | $(98008921) |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Touchstone<br> Non-US<br> Equity Fund** | **Touchstone<br> Non-US<br> Equity Fund** | **Touchstone<br> Non-US<br> Equity Fund** | **Touchstone<br> Non-US<br> Equity Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** | &nbsp;&nbsp;**Touchstone<br> Sands Capital Emerging<br> Markets Growth Fund** |
|  | **For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | **For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 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;478842 | $13763932 | &nbsp;&nbsp;&nbsp;&nbsp;697370 | $18072746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78911 | $1223355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227557 | $3310777 |
| 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;575049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14573454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&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;(891370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25442626) | &nbsp;&nbsp;(1774384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45610780) | &nbsp;&nbsp;&nbsp;&nbsp;(136636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2161773) | &nbsp;&nbsp;&nbsp;&nbsp;(355382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5160827) |
| **Change from Class A Share Transactions** | &nbsp;&nbsp;(412528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11678694) | &nbsp;&nbsp;&nbsp;(501965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12964580) | &nbsp;&nbsp;&nbsp;&nbsp;(57725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(938418) | &nbsp;&nbsp;&nbsp;&nbsp;(127825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1850050) |
| **Class C** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;&nbsp;85818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492185 | &nbsp;&nbsp;&nbsp;&nbsp;71626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646324 |
| 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;2734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&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;(14177) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(411813) | &nbsp;&nbsp;&nbsp;&nbsp;(34658) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(896939) | &nbsp;&nbsp;&nbsp;&nbsp;(38097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558586) | &nbsp;&nbsp;&nbsp;&nbsp;(105137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1487049) |
| **Change from Class C Share Transactions** | &nbsp;&nbsp;&nbsp;&nbsp;71641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080372 | &nbsp;&nbsp;&nbsp;&nbsp;39702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061725 | &nbsp;&nbsp;&nbsp;&nbsp;(35225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(515953) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(840725) |
| **Class Y** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | 9038551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270093815 | &nbsp;&nbsp;4404817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120866545 | &nbsp;&nbsp;&nbsp;2351513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37111406 | &nbsp;&nbsp;&nbsp;&nbsp;6421387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94796923 |
| 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;214538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5698057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496739 |
| Cost of Shares redeemed | (1364922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41252154) | &nbsp;&nbsp;(2570721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70325558) | &nbsp;&nbsp;(5264476) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83495898) | &nbsp;&nbsp;(14784465) | &nbsp;&nbsp;&nbsp;&nbsp;(219689314) |
| **Change from Class Y Share Transactions** | 7673629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228841661 | 2048634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56239044 | (2912963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46384492) | &nbsp;&nbsp;&nbsp;(8328510) | &nbsp;&nbsp;&nbsp;&nbsp;(124395652) |
| **Institutional Class** |  |  |  |  |  |  |  |  |
| Proceeds from Shares issued | &nbsp;&nbsp;&nbsp;375758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10876805 | &nbsp;&nbsp;&nbsp;&nbsp;308751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8333615 | &nbsp;&nbsp;&nbsp;6654368 | &nbsp;&nbsp;&nbsp;&nbsp;107092502 | &nbsp;&nbsp;&nbsp;&nbsp;7627342 | &nbsp;&nbsp;&nbsp;&nbsp;114211713 |
| 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;31681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478705 |
| Cost of Shares redeemed | &nbsp;&nbsp;(162771) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4879583) | &nbsp;&nbsp;&nbsp;&nbsp;(43902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1182951) | &nbsp;&nbsp;(7394166) | &nbsp;&nbsp;&nbsp;&nbsp;(117945769) | &nbsp;&nbsp;(17827255) | &nbsp;&nbsp;&nbsp;&nbsp;(266063471) |
| **Change from Institutional Class Share Transactions** | &nbsp;&nbsp;212987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5997222 | &nbsp;&nbsp;&nbsp;296530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7998739 | &nbsp;&nbsp;&nbsp;(739798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10853267) | (10097651) | &nbsp;&nbsp;&nbsp;&nbsp;(150373053) |
| **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;4764970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79816580 | &nbsp;&nbsp;&nbsp;&nbsp;5584834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83351571 |
| 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;30385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439680 |
| 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;(5082042) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83649280) | &nbsp;&nbsp;(15806250) | &nbsp;&nbsp;&nbsp;&nbsp;(233775857) |
| **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;(317072) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3832700) | (10191031) | &nbsp;&nbsp;&nbsp;&nbsp;(149984606) |
| **Change from Share Transactions** | 7545729 | $225240561 | 1882901 | $52334928 | (4062783) | $(62524830) | (28804558) | $(427444086) |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

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

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** | &nbsp;&nbsp;**Touchstone<br> Strategic Income Fund** |
| &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Six Months<br> Ended<br> September 30, 2025<br> (Unaudited)** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** | &nbsp;&nbsp;**For the Year<br> Ended<br> March 31, 2025** |
| &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Dollars** |
| &nbsp;&nbsp;&nbsp;1763991 | $5691256 | &nbsp;&nbsp;&nbsp;2354722 | $7465808 |
| &nbsp;&nbsp;&nbsp;&nbsp;730784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366379 | &nbsp;&nbsp;&nbsp;1487245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4720621 |
| &nbsp;&nbsp;(2445961) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7896800) | &nbsp;&nbsp;&nbsp;(7558221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23974711) |
| &nbsp;&nbsp;&nbsp;&nbsp;48814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160835 | &nbsp;&nbsp;(3716254) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11788282) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275219 | &nbsp;&nbsp;&nbsp;&nbsp;261263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150830 | &nbsp;&nbsp;&nbsp;&nbsp;135270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430747 |
| &nbsp;&nbsp;&nbsp;&nbsp;(906440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2944754) | &nbsp;&nbsp;&nbsp;(2569155) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8188574) |
| &nbsp;&nbsp;&nbsp;(774917) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2518705) | &nbsp;&nbsp;(2172622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6917164) |
| &nbsp;&nbsp;&nbsp;5568341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17826181 | &nbsp;&nbsp;10263332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32804902 |
| &nbsp;&nbsp;&nbsp;&nbsp;534824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725795 | &nbsp;&nbsp;&nbsp;&nbsp;779199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468503 |
| &nbsp;&nbsp;(5850004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18874798) | &nbsp;&nbsp;&nbsp;(5776082) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18287354) |
| &nbsp;&nbsp;&nbsp;&nbsp;253161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677178 | &nbsp;&nbsp;&nbsp;5266449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16986051 |
| &nbsp;&nbsp;&nbsp;3505124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11429072 | &nbsp;&nbsp;47629003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154231231 |
| &nbsp;&nbsp;&nbsp;&nbsp;640888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067260 | &nbsp;&nbsp;&nbsp;&nbsp;824559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633183 |
| &nbsp;&nbsp;(5551092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17591882) | &nbsp;&nbsp;(19920879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63582425) |
| (1405080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4095550) | 28532683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93281989 |
| (1878022) | $(5776242) | 27910256 | $91562594 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth Fund** | **Touchstone Dynamic Large Cap Growth 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** |
| 03/31/21 | $27.94 | $(0.20) | $17.44 | $17.24 | $— | $(4.11) | $(4.11) | $41.07 | &nbsp;&nbsp;62.56% | $56877 | 1.24% | &nbsp;&nbsp;&nbsp;1.34% | (0.55)% | 65% |
| 03/31/22 | &nbsp;&nbsp;41.07 | &nbsp;&nbsp;(0.21)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;4.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;38.64 | &nbsp;&nbsp;10.48 | &nbsp;&nbsp;61006 | 1.25 | &nbsp;&nbsp;&nbsp;1.31 | (0.48) | &nbsp;&nbsp;&nbsp;47<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;38.64 | &nbsp;&nbsp;(0.09)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(4.39) | &nbsp;&nbsp;&nbsp;(4.48) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;33.47 | (11.34) | &nbsp;&nbsp;48229 | 1.26 | &nbsp;&nbsp;&nbsp;1.37 | (0.27) | &nbsp;&nbsp;&nbsp;55<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;33.47 | &nbsp;&nbsp;(0.15)<sup>(3)</sup> | &nbsp;&nbsp;13.85 | &nbsp;&nbsp;13.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;46.09 | &nbsp;&nbsp;41.43 | &nbsp;&nbsp;63755 | 1.27 | &nbsp;&nbsp;&nbsp;1.39 | (0.40) | &nbsp;&nbsp;&nbsp;53<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;46.09 | &nbsp;&nbsp;(0.26)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;1.95 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;44.92 | &nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;62122 | 1.26 | &nbsp;&nbsp;&nbsp;1.34 | (0.52) | &nbsp;&nbsp;&nbsp;68<sup>(4)</sup> |
| 09/30/25<sup>(6)</sup> | &nbsp;&nbsp;44.92 | &nbsp;&nbsp;(0.15)<sup>(3)</sup> | &nbsp;&nbsp;13.91 | &nbsp;&nbsp;13.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;58.68 | &nbsp;&nbsp;&nbsp;&nbsp;30.63<sup>(7)</sup> | &nbsp;&nbsp;76246 | &nbsp;&nbsp;&nbsp;1.07<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24<sup>(8)</sup> | (0.57)<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89<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** | **Class C** |
| 03/31/21^ | $31.58 | $(1.15) | $20.17 | $19.02 | $— | $(6.13) | $(6.13) | $44.47 | &nbsp;&nbsp;61.29% | $1853 | 1.99% | &nbsp;&nbsp;&nbsp;2.70% | (1.30)% | 65% |
| 03/31/22^ | &nbsp;&nbsp;44.47 | &nbsp;&nbsp;(0.57)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;5.57 | &nbsp;&nbsp;&nbsp;5.00 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(10.72) | &nbsp;&nbsp;(10.72) | &nbsp;&nbsp;38.75 | &nbsp;&nbsp;&nbsp;9.64 | &nbsp;&nbsp;&nbsp;1769 | 2.00 | &nbsp;&nbsp;&nbsp;2.64 | (1.23) | &nbsp;&nbsp;&nbsp;47<sup>(4)</sup> |
| 03/31/23^ | &nbsp;&nbsp;38.75 | &nbsp;&nbsp;(0.26)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(4.48) | &nbsp;&nbsp;&nbsp;(4.74) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;33.32 | (11.99) | &nbsp;&nbsp;&nbsp;1485 | 2.01 | &nbsp;&nbsp;&nbsp;2.86 | (1.02) | &nbsp;&nbsp;&nbsp;55<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;33.32 | &nbsp;&nbsp;(0.44)<sup>(3)</sup> | &nbsp;&nbsp;13.73 | &nbsp;&nbsp;13.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;45.53 | &nbsp;&nbsp;40.37 | &nbsp;&nbsp;&nbsp;1311 | 2.02 | &nbsp;&nbsp;&nbsp;3.35 | (1.15) | &nbsp;&nbsp;&nbsp;53<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;45.53 | &nbsp;&nbsp;(0.62)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;43.99 | &nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;1422 | 2.01 | &nbsp;&nbsp;&nbsp;3.08 | (1.27) | &nbsp;&nbsp;&nbsp;68<sup>(4)</sup> |
| 09/30/25<sup>(6)</sup> | &nbsp;&nbsp;43.99 | &nbsp;&nbsp;(0.33)<sup>(3)</sup> | &nbsp;&nbsp;13.60 | &nbsp;&nbsp;13.27 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;57.26 | &nbsp;&nbsp;&nbsp;&nbsp;30.16<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1721 | &nbsp;&nbsp;&nbsp;1.79<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18<sup>(8)</sup> | (1.29)<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89<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** | **Class Y** |
| 03/31/21 | $29.11 | $(0.12) | $18.20 | $18.08 | $— | $(4.11) | $(4.11) | $43.08 | &nbsp;&nbsp;62.93% | $30742 | 0.99% | &nbsp;&nbsp;&nbsp;1.13% | (0.30)% | 65% |
| 03/31/22 | &nbsp;&nbsp;43.08 | &nbsp;&nbsp;(0.11)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;5.19 | &nbsp;&nbsp;&nbsp;5.08 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;40.97 | &nbsp;&nbsp;10.75 | &nbsp;&nbsp;25851 | 1.00 | &nbsp;&nbsp;&nbsp;1.10 | (0.23) | &nbsp;&nbsp;&nbsp;47<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;40.97 | &nbsp;&nbsp;(0.01)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(4.65) | &nbsp;&nbsp;&nbsp;(4.66) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;(0.76) | &nbsp;&nbsp;35.55 | (11.13) | &nbsp;&nbsp;26581 | 1.01 | &nbsp;&nbsp;&nbsp;1.15 | (0.02) | &nbsp;&nbsp;&nbsp;55<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;35.55 | &nbsp;&nbsp;(0.06)<sup>(3)</sup> | &nbsp;&nbsp;14.76 | &nbsp;&nbsp;14.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;49.17 | &nbsp;&nbsp;41.82 | &nbsp;&nbsp;33435 | 1.02 | &nbsp;&nbsp;&nbsp;1.18 | (0.15) | &nbsp;&nbsp;&nbsp;53<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;49.17 | &nbsp;&nbsp;(0.14)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;48.22 | &nbsp;&nbsp;&nbsp;3.51 | &nbsp;&nbsp;32617 | 1.01 | &nbsp;&nbsp;&nbsp;1.13 | (0.27) | &nbsp;&nbsp;&nbsp;68<sup>(4)</sup> |
| 09/30/25<sup>(6)</sup> | &nbsp;&nbsp;48.22 | &nbsp;&nbsp;(0.07)<sup>(3)</sup> | &nbsp;&nbsp;14.94 | &nbsp;&nbsp;14.87 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;63.09 | &nbsp;&nbsp;&nbsp;&nbsp;30.84<sup>(7)</sup> | &nbsp;&nbsp;38384 | &nbsp;&nbsp;&nbsp;0.75<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.04<sup>(8)</sup> | (0.25)<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89<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** | **Institutional Class** |
| 03/31/21 | $29.58 | $(0.06) | $18.49 | $18.43 | $— | $(4.11) | $(4.11) | $43.90 | &nbsp;&nbsp;63.13% | $71461 | 0.89% | &nbsp;&nbsp;&nbsp;1.03% | (0.20)% | 65% |
| 03/31/22 | &nbsp;&nbsp;43.90 | &nbsp;&nbsp;(0.06)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;5.27 | &nbsp;&nbsp;&nbsp;5.21 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;&nbsp;(7.19) | &nbsp;&nbsp;41.92 | &nbsp;&nbsp;10.84 | &nbsp;&nbsp;73624 | 0.90 | &nbsp;&nbsp;&nbsp;1.02 | (0.13) | &nbsp;&nbsp;&nbsp;47<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;41.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.03<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(4.76) | &nbsp;&nbsp;&nbsp;(4.73) | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;(0.79) | &nbsp;&nbsp;36.40 | (11.02) | &nbsp;&nbsp;49939 | 0.91 | &nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;55<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;36.40 | &nbsp;&nbsp;(0.02)<sup>(3)</sup> | &nbsp;&nbsp;15.11 | &nbsp;&nbsp;15.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;&nbsp;(1.08) | &nbsp;&nbsp;50.41 | &nbsp;&nbsp;41.93 | &nbsp;&nbsp;47369 | 0.92 | &nbsp;&nbsp;&nbsp;1.08 | (0.05) | &nbsp;&nbsp;&nbsp;53<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;50.41 | &nbsp;&nbsp;(0.09)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.36 | &nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;&nbsp;(3.12) | &nbsp;&nbsp;49.56 | &nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;46832 | 0.91 | &nbsp;&nbsp;&nbsp;1.05 | (0.17) | &nbsp;&nbsp;&nbsp;68<sup>(4)</sup> |
| 09/30/25<sup>(6)</sup> | &nbsp;&nbsp;49.56 | &nbsp;&nbsp;(0.05)<sup>(3)</sup> | &nbsp;&nbsp;15.35 | &nbsp;&nbsp;15.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;64.86 | &nbsp;&nbsp;&nbsp;&nbsp;30.88<sup>(7)</sup> | &nbsp;&nbsp;42980 | &nbsp;&nbsp;&nbsp;0.69<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97<sup>(8)</sup> | (0.19)<sup>(8)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89<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** | **Class R6** |
| 09/30/25<sup>(6)(9)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$51.80<sup>(10)</sup> | $(0.02)<sup>(3)</sup> | $13.11 | $13.09 | $— | $— | $— | $64.89 | &nbsp;&nbsp;25.27%<sup>(7)</sup> | $3 | 0.58%<sup>(8)</sup> | 250.92%<sup>(8)</sup> | (0.08)%<sup>(8)</sup> | 89%<sup>(4)(7)</sup> |

---

---

| | |
|:---|:---|
| *^* | *Updated to reflect the effect of a 1 for 0.670946 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 0.03%, 0.02%, 0.03%, 0.02% and 0.01% for the six months ended September 30, 2025 and for the years ended March 31, 2025, 2024, 2023, and 2022, 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>* | *Less than $0.005 per share.* |
| *<sup>(6)</sup>* | *Unaudited.* |
| *<sup>(7)</sup>* | *Not annualized.* |
| *<sup>(8)</sup>* | *Annualized.* |
| *<sup>(9)</sup>* | *Represents the period from commencement of operations (May 9, 2025) through September 30, 2025.* |
| *<sup>(10)</sup>* | *Net asset value at the beginning of period is based on the net asset value of Institutional Class shares on May 9, 2025.* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income Fund** | **Touchstone Flexible Income 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<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** |
| 03/31/21 | $10.05 | $0.41 | $1.16 | $1.57 | $(0.41) | $(0.10) | $(0.51) | $11.11 | 15.72% | $121317 | 1.04% | 1.09% | 3.79% | 103% |
| 03/31/22 | &nbsp;&nbsp;11.11 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;(0.18) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;10.57 | (1.76) | &nbsp;&nbsp;&nbsp;&nbsp;113880 | 1.09 | 1.11 | 3.05 | &nbsp;&nbsp;61 |
| 03/31/23 | &nbsp;&nbsp;10.57 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.44) | &nbsp;&nbsp;&nbsp;9.87 | (2.39) | &nbsp;&nbsp;&nbsp;&nbsp;104050 | 1.06 | 1.11 | 3.39 | &nbsp;&nbsp;52 |
| 03/31/24 | &nbsp;&nbsp;&nbsp;9.87 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;10.25 | &nbsp;&nbsp;7.69 | &nbsp;&nbsp;&nbsp;&nbsp;119032 | 1.04 | 1.09 | 3.81 | &nbsp;&nbsp;47 |
| 03/31/25 | &nbsp;&nbsp;10.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.44<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;(0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.42) | &nbsp;&nbsp;10.30 | &nbsp;&nbsp;4.71 | &nbsp;&nbsp;&nbsp;&nbsp;126335 | 1.04 | 1.07 | 4.29 | &nbsp;&nbsp;52 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;10.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.25<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;10.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.70<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;116165 | &nbsp;&nbsp;&nbsp;1.04<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.06<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;4.77<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;35<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** |
| 03/31/21 | $9.90 | $0.32 | $1.15 | $1.47 | $(0.33) | $(0.10) | $(0.43) | $10.94 | 14.89% | $44389 | 1.79% | 1.85% | 3.04% | 103% |
| 03/31/22 | &nbsp;&nbsp;10.94 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;(0.51) | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;10.40 | (2.52) | &nbsp;&nbsp;&nbsp;&nbsp;37087 | 1.84 | 1.87 | 2.30 | &nbsp;&nbsp;61 |
| 03/31/23 | &nbsp;&nbsp;10.40 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.36) | &nbsp;&nbsp;&nbsp;9.70 | (3.16) | &nbsp;&nbsp;&nbsp;&nbsp;30158 | 1.81 | 1.88 | 2.64 | &nbsp;&nbsp;52 |
| 03/31/24 | &nbsp;&nbsp;&nbsp;9.70 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;10.07 | &nbsp;&nbsp;6.93 | &nbsp;&nbsp;&nbsp;&nbsp;33569 | 1.79 | 1.84 | 3.06 | &nbsp;&nbsp;47 |
| 03/31/25 | &nbsp;&nbsp;10.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.36<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;10.11 | &nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;33653 | 1.79 | 1.84 | 3.54 | &nbsp;&nbsp;52 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;10.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.20<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;10.23 | &nbsp;&nbsp;&nbsp;&nbsp;3.29<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;31413 | &nbsp;&nbsp;&nbsp;1.79<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.83<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;4.02<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;35<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** |
| 03/31/21 | $10.08 | $0.44 | $1.17 | $1.61 | $(0.44) | $(0.10) | $(0.54) | $11.15 | 16.07% | $587810 | 0.79% | 0.83% | 4.04% | 103% |
| 03/31/22 | &nbsp;&nbsp;11.15 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;10.60 | (1.61) | &nbsp;&nbsp;&nbsp;&nbsp;661266 | 0.84 | 0.85 | 3.30 | &nbsp;&nbsp;61 |
| 03/31/23 | &nbsp;&nbsp;10.60 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.46) | &nbsp;&nbsp;&nbsp;9.90 | (2.14) | &nbsp;&nbsp;&nbsp;&nbsp;668604 | 0.81 | 0.85 | 3.64 | &nbsp;&nbsp;52 |
| 03/31/24 | &nbsp;&nbsp;&nbsp;9.90 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;10.29 | &nbsp;&nbsp;8.04 | &nbsp;&nbsp;1166943 | 0.79 | 0.80 | 4.06 | &nbsp;&nbsp;47 |
| 03/31/25 | &nbsp;&nbsp;10.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.47<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;(0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.45) | &nbsp;&nbsp;10.34 | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;1475516 | &nbsp;&nbsp;&nbsp;0.79<sup>(7)</sup> | 0.78 | 4.54 | &nbsp;&nbsp;52 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;10.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.26<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;10.47 | &nbsp;&nbsp;&nbsp;&nbsp;3.82<sup>(5)</sup> | &nbsp;&nbsp;1552492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79<sup>(6)(8)</sup> | &nbsp;&nbsp;&nbsp;0.77<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;5.02<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;35<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** |
| 03/31/21 | $10.08 | $0.45 | $1.16 | $1.61 | $(0.45) | $(0.10) | $(0.55) | $11.14 | 16.19% | $36136 | 0.69% | 0.84% | 4.14% | 103% |
| 03/31/22 | &nbsp;&nbsp;11.14 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;10.60 | (1.45) | &nbsp;&nbsp;&nbsp;&nbsp;34177 | 0.74 | 0.84 | 3.40 | &nbsp;&nbsp;61 |
| 03/31/23 | &nbsp;&nbsp;10.60 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;(0.60) | &nbsp;&nbsp;(0.23) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.47) | &nbsp;&nbsp;&nbsp;9.90 | (2.04) | &nbsp;&nbsp;&nbsp;&nbsp;35484 | 0.71 | 0.83 | 3.74 | &nbsp;&nbsp;52 |
| 03/31/24 | &nbsp;&nbsp;&nbsp;9.90 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;10.29 | &nbsp;&nbsp;8.15 | &nbsp;&nbsp;&nbsp;&nbsp;40698 | 0.69 | 0.80 | 4.16 | &nbsp;&nbsp;47 |
| 03/31/25 | &nbsp;&nbsp;10.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.48<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;(0.46) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.46) | &nbsp;&nbsp;10.34 | &nbsp;&nbsp;5.05 | &nbsp;&nbsp;&nbsp;&nbsp;50008 | 0.69 | 0.77 | 4.64 | &nbsp;&nbsp;52 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;10.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.27<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;10.47 | &nbsp;&nbsp;&nbsp;&nbsp;3.88<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;61602 | &nbsp;&nbsp;&nbsp;0.69<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;0.75<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;5.12<sup>(6)</sup> | &nbsp;&nbsp;35<sup>(5)</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 dividend and interest expense on securities sold short would have been lower by 0.02%, 0.05% and 0.01% for the years ended March 31, 2023, 2022 and 2020, respectively.* 

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

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

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

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

*<sup>(7)</sup>* *Net expenses include amounts recouped by the Adviser.* 

*<sup>(8)</sup>* *Net expenses include amounts eligible for recoupment by the Adviser.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused Fund** | **Touchstone Focused 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<sup>(3)</sup>** | **Ratio of gross<br> expenses<br> to average<br> net assets<sup>(3)</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** |
| 03/31/21 | $36.45 | $(0.02) | $24.92 | $24.90 | $— | $(2.92) | $(2.92) | $58.43 | 69.38% | $48419 | 1.22% | 1.22% | (0.05)%18%<sup>(4)</sup> |
| 03/31/22 | &nbsp;&nbsp;58.43 | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;5.72 | &nbsp;&nbsp;&nbsp;5.62 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(3.64) | &nbsp;&nbsp;(3.67) | &nbsp;&nbsp;60.38 | &nbsp;&nbsp;9.38 | &nbsp;&nbsp;&nbsp;&nbsp;53028 | 1.15 | 1.15 | (0.17)&nbsp;&nbsp;&nbsp;14<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;60.38 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;(4.14) | &nbsp;&nbsp;&nbsp;(4.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;54.71 | (6.52) | &nbsp;&nbsp;&nbsp;&nbsp;45751 | 1.17 | 1.17 | &nbsp;&nbsp;0.16&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;54.71 | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;12.23 | &nbsp;&nbsp;12.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;66.64 | 22.85 | &nbsp;&nbsp;&nbsp;&nbsp;57366 | 1.18 | 1.18 | &nbsp;&nbsp;0.38&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;66.64 | &nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;4.55 | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;(0.62) | &nbsp;&nbsp;70.57 | &nbsp;&nbsp;6.77 | &nbsp;&nbsp;&nbsp;&nbsp;61133 | 1.16 | 1.16 | &nbsp;&nbsp;0.14&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;70.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;11.98 | &nbsp;&nbsp;11.98 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;82.55 | &nbsp;&nbsp;&nbsp;16.97<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;69834 | &nbsp;&nbsp;&nbsp;1.16<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.16<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.01<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(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** |
| 03/31/21 | $34.06 | $(0.36) | $23.19 | $22.83 | $— | $(2.92) | $(2.92) | $53.97 | 68.10% | $25241 | 1.96% | 1.96% | (0.79)%18%<sup>(4)</sup> |
| 03/31/22 | &nbsp;&nbsp;53.97 | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;&nbsp;5.30 | &nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.64) | &nbsp;&nbsp;(3.64) | &nbsp;&nbsp;55.10 | &nbsp;&nbsp;8.58 | &nbsp;&nbsp;&nbsp;&nbsp;20147 | 1.91 | 1.91 | (0.92)&nbsp;&nbsp;&nbsp;14<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;55.10 | &nbsp;&nbsp;(0.30) | &nbsp;&nbsp;&nbsp;(3.81) | &nbsp;&nbsp;&nbsp;(4.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;49.37 | (7.26) | &nbsp;&nbsp;&nbsp;&nbsp;12937 | 1.96 | 1.96 | (0.62)&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;49.37 | &nbsp;&nbsp;(0.22) | &nbsp;&nbsp;10.99 | &nbsp;&nbsp;10.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;59.61 | 21.90 | &nbsp;&nbsp;&nbsp;&nbsp;10346 | 1.96 | 2.02 | (0.40)&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;59.61 | &nbsp;&nbsp;(0.39) | &nbsp;&nbsp;&nbsp;3.97 | &nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;62.82 | &nbsp;&nbsp;5.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6249 | 1.92 | 2.07 | (0.62)&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;62.82 | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;10.64 | &nbsp;&nbsp;10.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;73.21 | &nbsp;&nbsp;&nbsp;16.54<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5945 | &nbsp;&nbsp;&nbsp;1.90<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;2.16<sup>(7)</sup> | (0.74)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(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** |
| 03/31/21 | $36.82 | $0.13 | $25.21 | $25.34 | $(0.14) | $(2.92) | $(3.06) | $59.10 | 69.89% | $1058713 | 0.91% | 0.91% | &nbsp;&nbsp;0.27%18%<sup>(4)</sup> |
| 03/31/22 | &nbsp;&nbsp;59.10 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;5.80 | &nbsp;&nbsp;&nbsp;5.88 | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(3.64) | &nbsp;&nbsp;(3.76) | &nbsp;&nbsp;61.22 | &nbsp;&nbsp;9.71 | &nbsp;&nbsp;1108883 | 0.86 | 0.86 | &nbsp;&nbsp;0.12&nbsp;&nbsp;&nbsp;14<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;61.22 | &nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;(4.21) | &nbsp;&nbsp;&nbsp;(3.96) | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;(1.68) | &nbsp;&nbsp;55.58 | (6.26) | &nbsp;&nbsp;&nbsp;&nbsp;978944 | 0.88 | 0.88 | &nbsp;&nbsp;0.45&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;55.58 | &nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;12.45 | &nbsp;&nbsp;12.86 | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;(0.78) | &nbsp;&nbsp;67.66 | 23.24 | &nbsp;&nbsp;1167637 | 0.88 | 0.88 | &nbsp;&nbsp;0.68&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;67.66 | &nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;4.52 | &nbsp;&nbsp;&nbsp;4.83 | &nbsp;&nbsp;(0.44) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;(0.81) | &nbsp;&nbsp;71.68 | &nbsp;&nbsp;7.08 | &nbsp;&nbsp;1152118 | 0.87 | 0.87 | &nbsp;&nbsp;0.43&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;71.68 | &nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;12.17 | &nbsp;&nbsp;12.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;83.97 | &nbsp;&nbsp;&nbsp;17.15<sup>(6)</sup> | &nbsp;&nbsp;1308274 | &nbsp;&nbsp;&nbsp;0.86<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.86<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.30<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>(4)(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** |
| 03/31/21 | $36.98 | $0.16 | $25.33 | $25.49 | $(0.17) | $(2.92) | $(3.09) | $59.38 | 70.00% | $15323 | 0.85% | 0.94% | &nbsp;&nbsp;0.32%18%<sup>(4)</sup> |
| 03/31/22 | &nbsp;&nbsp;59.38 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;5.84 | &nbsp;&nbsp;&nbsp;5.93 | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(3.64) | &nbsp;&nbsp;(3.77) | &nbsp;&nbsp;61.54 | &nbsp;&nbsp;9.75 | &nbsp;&nbsp;&nbsp;&nbsp;18825 | 0.84 | 0.88 | &nbsp;&nbsp;0.15&nbsp;&nbsp;&nbsp;14<sup>(4)</sup> |
| 03/31/23 | &nbsp;&nbsp;61.54 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;(4.22) | &nbsp;&nbsp;&nbsp;(3.95) | &nbsp;&nbsp;(0.07) | &nbsp;&nbsp;(1.62) | &nbsp;&nbsp;(1.69) | &nbsp;&nbsp;55.90 | (6.21) | &nbsp;&nbsp;&nbsp;&nbsp;21145 | 0.84 | 0.91 | &nbsp;&nbsp;0.50&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;55.90 | &nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;12.50 | &nbsp;&nbsp;12.94 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;(0.80) | &nbsp;&nbsp;68.04 | 23.27 | &nbsp;&nbsp;&nbsp;&nbsp;18915 | 0.84 | 0.95 | &nbsp;&nbsp;0.72&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;68.04 | &nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;4.55 | &nbsp;&nbsp;&nbsp;4.88 | &nbsp;&nbsp;(0.46) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;(0.83) | &nbsp;&nbsp;72.09 | &nbsp;&nbsp;7.12 | &nbsp;&nbsp;&nbsp;&nbsp;20181 | 0.84 | 0.91 | &nbsp;&nbsp;0.46&nbsp;&nbsp;&nbsp;&nbsp;5<sup>(4)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;72.09 | &nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;12.24 | &nbsp;&nbsp;12.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;84.46 | &nbsp;&nbsp;&nbsp;17.16<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;22560 | &nbsp;&nbsp;&nbsp;0.84<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.93<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.32<sup>(7)</sup>&nbsp;&nbsp;3<sup>(4)(6)</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>* *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 0.02% for the six months ended September 30, 2025 and for the years ended March 31, 2025, 2024, 2023, 2022 and 2021, respectively.* 

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

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

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

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

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth Fund** | **Touchstone Mid Cap Growth 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 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** |
| 03/31/21 | $24.89 | $(0.28) | $15.64 | $15.36 | $(2.54) | $(2.54) | $37.71 | &nbsp;&nbsp;61.98% | $322432 | 1.23% | 1.23% | (0.75)%65%<sup>(3)</sup> |
| 03/31/22 | &nbsp;&nbsp;37.71 | &nbsp;&nbsp;(0.26)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.44 | &nbsp;&nbsp;&nbsp;3.18 | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;34.52 | &nbsp;&nbsp;&nbsp;7.43 | &nbsp;&nbsp;299763 | 1.21 | 1.21 | (0.65)&nbsp;&nbsp;&nbsp;60<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;34.52 | &nbsp;&nbsp;(0.09)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(4.56) | &nbsp;&nbsp;&nbsp;(4.65) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;29.14 | (13.36) | &nbsp;&nbsp;234325 | 1.26 | 1.26 | (0.31)&nbsp;&nbsp;&nbsp;56<sup>(3)</sup> |
| 03/31/24 | &nbsp;&nbsp;29.14 | &nbsp;&nbsp;(0.10)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;7.90 | &nbsp;&nbsp;&nbsp;7.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;36.94 | &nbsp;&nbsp;26.77 | &nbsp;&nbsp;256076 | 1.24 | 1.24 | (0.33)&nbsp;&nbsp;&nbsp;58<sup>(3)</sup> |
| 03/31/25 | &nbsp;&nbsp;36.94 | &nbsp;&nbsp;(0.24)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(1.31) | &nbsp;&nbsp;&nbsp;(1.55) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;34.26 | &nbsp;&nbsp;(4.65) | &nbsp;&nbsp;219300 | 1.22 | 1.22 | (0.65)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;34.26 | &nbsp;&nbsp;(0.07)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;8.43 | &nbsp;&nbsp;&nbsp;8.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;42.62 | &nbsp;&nbsp;&nbsp;&nbsp;24.40<sup>(6)</sup> | &nbsp;&nbsp;256501 | &nbsp;&nbsp;&nbsp;1.22<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.22<sup>(7)</sup> | (0.36)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47<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** |
| 03/31/21^ | $31.19 | $(1.67) | $20.46 | $18.79 | $(5.44) | $(5.44) | $44.54 | &nbsp;&nbsp;60.65% | $18939 | 2.07% | 2.07% | (1.59)%65%<sup>(3)</sup> |
| 03/31/22^ | &nbsp;&nbsp;44.54 | &nbsp;&nbsp;(0.64)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;(13.65) | &nbsp;&nbsp;(13.65) | &nbsp;&nbsp;34.64 | &nbsp;&nbsp;&nbsp;6.53 | &nbsp;&nbsp;&nbsp;17918 | 2.04 | 2.04 | (1.48)&nbsp;&nbsp;&nbsp;60<sup>(3)</sup> |
| 03/31/23^ | &nbsp;&nbsp;34.64 | &nbsp;&nbsp;(0.20)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(4.71) | &nbsp;&nbsp;&nbsp;(4.91) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;29.00 | (14.07) | &nbsp;&nbsp;&nbsp;13709 | 2.10 | 2.10 | (1.15)&nbsp;&nbsp;&nbsp;56<sup>(3)</sup> |
| 03/31/24 | &nbsp;&nbsp;29.00 | &nbsp;&nbsp;(0.36)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;7.82 | &nbsp;&nbsp;&nbsp;7.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;36.46 | &nbsp;&nbsp;25.73 | &nbsp;&nbsp;&nbsp;15144 | 2.07 | 2.07 | (1.17)&nbsp;&nbsp;&nbsp;58<sup>(3)</sup> |
| 03/31/25 | &nbsp;&nbsp;36.46 | &nbsp;&nbsp;(0.54)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(1.28) | &nbsp;&nbsp;&nbsp;(1.82) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;33.51 | &nbsp;&nbsp;(5.47) | &nbsp;&nbsp;&nbsp;12141 | 2.06 | 2.06 | (1.49)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;33.51 | &nbsp;&nbsp;(0.22)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;&nbsp;8.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;41.52 | &nbsp;&nbsp;&nbsp;&nbsp;23.90<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;13832 | &nbsp;&nbsp;&nbsp;2.01<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;2.12<sup>(7)</sup> | (1.16)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47<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** |
| 03/31/21 | $26.04 | $(0.18) | $16.36 | $16.18 | $(2.54) | $(2.54) | $39.68 | &nbsp;&nbsp;62.40% | $641218 | 0.99% | 0.99% | (0.52)%65%<sup>(3)</sup> |
| 03/31/22 | &nbsp;&nbsp;39.68 | &nbsp;&nbsp;(0.18)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.59 | &nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;36.72 | &nbsp;&nbsp;&nbsp;7.65 | &nbsp;&nbsp;657182 | 0.99 | 0.99 | (0.43)&nbsp;&nbsp;&nbsp;60<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;36.72 | &nbsp;&nbsp;(0.02)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(4.84) | &nbsp;&nbsp;&nbsp;(4.86) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;31.13 | (13.15) | &nbsp;&nbsp;548507 | 1.03 | 1.03 | (0.07)&nbsp;&nbsp;&nbsp;56<sup>(3)</sup> |
| 03/31/24 | &nbsp;&nbsp;31.13 | &nbsp;&nbsp;(0.03)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;8.45 | &nbsp;&nbsp;&nbsp;8.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;39.55 | &nbsp;&nbsp;27.09 | &nbsp;&nbsp;712307 | 1.01 | 1.01 | (0.10)&nbsp;&nbsp;&nbsp;58<sup>(3)</sup> |
| 03/31/25 | &nbsp;&nbsp;39.55 | &nbsp;&nbsp;(0.17)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(1.42) | &nbsp;&nbsp;&nbsp;(1.59) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;36.83 | &nbsp;&nbsp;(4.45) | &nbsp;&nbsp;591921 | 0.99 | 1.00 | (0.42)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;36.83 | &nbsp;&nbsp;(0.03)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;9.07 | &nbsp;&nbsp;&nbsp;9.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;45.87 | &nbsp;&nbsp;&nbsp;&nbsp;24.55<sup>(6)</sup> | &nbsp;&nbsp;723153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.99<sup>(7)(8)</sup> | &nbsp;&nbsp;&nbsp;0.98<sup>(7)</sup> | (0.14)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47<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** |
| 03/31/21 | $26.32 | $(0.20) | $16.58 | $16.38 | $(2.54) | $(2.54) | $40.16 | &nbsp;&nbsp;62.50% | $381463 | 0.91% | 0.92% | (0.44)%65%<sup>(3)</sup> |
| 03/31/22 | &nbsp;&nbsp;40.16 | &nbsp;&nbsp;(0.14)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.64 | &nbsp;&nbsp;&nbsp;3.50 | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;37.29 | &nbsp;&nbsp;&nbsp;7.79 | &nbsp;&nbsp;229028 | 0.88 | 0.91 | (0.32)&nbsp;&nbsp;&nbsp;60<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;37.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(4.92) | &nbsp;&nbsp;&nbsp;(4.90) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;31.66 | (13.03) | &nbsp;&nbsp;209280 | 0.88 | 0.96 | &nbsp;&nbsp;0.07&nbsp;&nbsp;&nbsp;56<sup>(3)</sup> |
| 03/31/24 | &nbsp;&nbsp;31.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.01<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;8.62 | &nbsp;&nbsp;&nbsp;8.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;40.29 | &nbsp;&nbsp;27.26 | &nbsp;&nbsp;264631 | 0.87 | 0.95 | &nbsp;&nbsp;0.04&nbsp;&nbsp;&nbsp;58<sup>(3)</sup> |
| 03/31/25 | &nbsp;&nbsp;40.29 | &nbsp;&nbsp;(0.12)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(1.46) | &nbsp;&nbsp;&nbsp;(1.58) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;37.58 | &nbsp;&nbsp;(4.34) | &nbsp;&nbsp;216937 | 0.87 | 0.94 | (0.31)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;37.58 | &nbsp;&nbsp;(0.01)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;9.26 | &nbsp;&nbsp;&nbsp;9.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;46.83 | &nbsp;&nbsp;&nbsp;&nbsp;24.62<sup>(6)</sup> | &nbsp;&nbsp;223045 | &nbsp;&nbsp;&nbsp;0.88<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.94<sup>(7)</sup> | (0.03)<sup>(7)</sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47<sup>(3)(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** |
| 03/31/21 | $26.32 | $(0.11) | $16.51 | $16.40 | $(2.54) | $(2.54) | $40.18 | &nbsp;&nbsp;62.58% | $4603 | 0.85% | 1.47% | (0.37)%65%<sup>(3)</sup> |
| 03/31/22 | &nbsp;&nbsp;40.18 | &nbsp;&nbsp;(0.09)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3.63 | &nbsp;&nbsp;&nbsp;3.54 | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;&nbsp;(6.37) | &nbsp;&nbsp;37.35 | &nbsp;&nbsp;&nbsp;7.89 | &nbsp;&nbsp;111561 | 0.79 | 0.88 | (0.23)&nbsp;&nbsp;&nbsp;60<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;37.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.05<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(4.92) | &nbsp;&nbsp;&nbsp;(4.87) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;&nbsp;(0.73) | &nbsp;&nbsp;31.75 | (12.93) | &nbsp;&nbsp;&nbsp;99956 | 0.79 | 0.91 | &nbsp;&nbsp;0.16&nbsp;&nbsp;&nbsp;56<sup>(3)</sup> |
| 03/31/24 | &nbsp;&nbsp;31.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;8.65 | &nbsp;&nbsp;&nbsp;8.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;40.44 | &nbsp;&nbsp;27.37 | &nbsp;&nbsp;167139 | 0.78 | 0.90 | &nbsp;&nbsp;0.13&nbsp;&nbsp;&nbsp;58<sup>(3)</sup> |
| 03/31/25 | &nbsp;&nbsp;40.44 | &nbsp;&nbsp;(0.09)<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;(1.46) | &nbsp;&nbsp;&nbsp;(1.55) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;&nbsp;(1.13) | &nbsp;&nbsp;37.76 | &nbsp;&nbsp;(4.25) | &nbsp;&nbsp;181079 | 0.78 | 0.87 | (0.22)&nbsp;&nbsp;&nbsp;79<sup>(3)</sup> |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;37.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.01<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;9.30 | &nbsp;&nbsp;&nbsp;9.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;47.07 | &nbsp;&nbsp;&nbsp;&nbsp;24.66<sup>(6)</sup> | &nbsp;&nbsp;205188 | &nbsp;&nbsp;&nbsp;0.79<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.88<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.06<sup>(7)</sup>47<sup>(3)(6)</sup> |

---

---

| | |
|:---|:---|
| *^* | *Updated to reflect the effect of a 1 for 0.466797 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 0.02%, 0.01%, 0.01%, 0.02%, 0.02% and 0.01% for the six months ended September 30, 2025 and for the years ended March 31, 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>* | *Net expenses include amounts eligible for recoupment by the Adviser.* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity Fund** | **Touchstone Non-US Equity 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** |
| 03/31/21 | $16.84 | &nbsp;&nbsp;&nbsp;$0.14<sup>(3)</sup> | $9.26 | $9.40 | $(0.08) | $— | $(0.08) | $26.16 | 55.86% | $496574 | 1.12% | 1.12% | &nbsp;&nbsp;0.63% | &nbsp;&nbsp;62% |
| 03/31/22 | &nbsp;&nbsp;26.16 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;(0.27) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;(0.23) | &nbsp;&nbsp;(2.78) | &nbsp;&nbsp;(3.01) | &nbsp;&nbsp;23.06 | (0.98) | &nbsp;&nbsp;457750 | 1.09 | 1.09 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;32 |
| 03/31/23 | &nbsp;&nbsp;23.06 | &nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;(1.19) | &nbsp;&nbsp;(0.90) | &nbsp;&nbsp;(0.26) | &nbsp;&nbsp;(1.12) | &nbsp;&nbsp;(1.38) | &nbsp;&nbsp;20.78 | (3.50) | &nbsp;&nbsp;406506 | 1.18 | 1.18 | &nbsp;&nbsp;1.45 | &nbsp;&nbsp;&nbsp;110<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;20.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.38<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;24.57 | 19.97 | &nbsp;&nbsp;455288 | 1.16 | 1.15 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;16<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;24.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.41<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.40 | &nbsp;&nbsp;&nbsp;2.81 | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.87) | &nbsp;&nbsp;26.51 | 11.59 | &nbsp;&nbsp;478009 | 1.15 | 1.15 | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;22 |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;26.51 | &nbsp;&nbsp;&nbsp;&nbsp;0.30<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;4.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;30.73 | &nbsp;&nbsp;&nbsp;15.92<sup>(6)</sup> | &nbsp;&nbsp;541343 | &nbsp;&nbsp;&nbsp;1.14<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;1.14<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.08<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9<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** |
| 03/31/21^ | $17.42 | $(0.05)<sup>(3)</sup> | $9.56 | $9.51 | $— | $— | $— | $26.93 | 54.55% | $7782 | 1.99% | 2.14% | (0.24)% | &nbsp;&nbsp;62% |
| 03/31/22^ | &nbsp;&nbsp;26.93 | &nbsp;&nbsp;(0.04) | &nbsp;&nbsp;(0.25) | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;(0.05) | &nbsp;&nbsp;(3.47) | &nbsp;&nbsp;(3.52) | &nbsp;&nbsp;23.13 | (1.85) | &nbsp;&nbsp;&nbsp;&nbsp;5565 | 1.99 | 2.10 | (0.16) | &nbsp;&nbsp;32 |
| 03/31/23^ | &nbsp;&nbsp;23.13 | &nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;(1.25) | &nbsp;&nbsp;(1.06) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(1.12) | &nbsp;&nbsp;(1.12) | &nbsp;&nbsp;20.95 | (4.26) | &nbsp;&nbsp;&nbsp;&nbsp;3553 | 1.99 | 2.29 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;110<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;20.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.21<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.78 | &nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;24.93 | 19.03 | &nbsp;&nbsp;&nbsp;&nbsp;2699 | 1.95 | 2.51 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;16<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;24.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.21<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.44 | &nbsp;&nbsp;&nbsp;2.65 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.68) | &nbsp;&nbsp;26.90 | 10.76 | &nbsp;&nbsp;&nbsp;&nbsp;3980 | 1.93 | 2.52 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;22 |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;26.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.19<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.96 | &nbsp;&nbsp;&nbsp;4.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;31.05 | &nbsp;&nbsp;&nbsp;15.43<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6819 | &nbsp;&nbsp;&nbsp;1.92<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;2.26<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.30<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9<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** |
| 03/31/21 | $17.48 | &nbsp;&nbsp;&nbsp;$0.20<sup>(3)</sup> | $9.62 | $9.82 | $(0.14) | $— | $(0.14) | $27.16 | 56.22% | $182806 | 0.90% | 0.93% | &nbsp;&nbsp;0.85% | &nbsp;&nbsp;62% |
| 03/31/22 | &nbsp;&nbsp;27.16 | &nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;(2.78) | &nbsp;&nbsp;(3.06) | &nbsp;&nbsp;24.07 | (0.74) | &nbsp;&nbsp;155664 | 0.90 | 0.90 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;32 |
| 03/31/23 | &nbsp;&nbsp;24.07 | &nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;(1.31) | &nbsp;&nbsp;(0.89) | &nbsp;&nbsp;(0.30) | &nbsp;&nbsp;(1.12) | &nbsp;&nbsp;(1.42) | &nbsp;&nbsp;21.76 | (3.27) | &nbsp;&nbsp;109722 | 0.92 | 0.95 | &nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;110<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;21.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.46<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;25.75 | 20.28 | &nbsp;&nbsp;159646 | 0.90 | 0.94 | &nbsp;&nbsp;2.00 | &nbsp;&nbsp;&nbsp;&nbsp;16<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;25.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.49<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.52 | &nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;(0.44) | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.93) | &nbsp;&nbsp;27.83 | 11.89 | &nbsp;&nbsp;229588 | 0.90 | 0.96 | &nbsp;&nbsp;1.83 | &nbsp;&nbsp;22 |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;27.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.35<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;4.12 | &nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;32.30 | &nbsp;&nbsp;&nbsp;16.06<sup>(6)</sup> | &nbsp;&nbsp;514246 | &nbsp;&nbsp;&nbsp;0.90<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.90<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.32<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9<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** |
| 03/31/21 | $17.50 | &nbsp;&nbsp;&nbsp;$0.19<sup>(3)</sup> | $9.64 | $9.83 | $(0.13) | $— | $(0.13) | $27.20 | 56.21% | $13271 | 0.89% | 0.97% | &nbsp;&nbsp;0.86% | &nbsp;&nbsp;62% |
| 03/31/22 | &nbsp;&nbsp;27.20 | &nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.28) | &nbsp;&nbsp;(2.78) | &nbsp;&nbsp;(3.06) | &nbsp;&nbsp;24.11 | (0.74) | &nbsp;&nbsp;&nbsp;&nbsp;9747 | 0.89 | 0.94 | &nbsp;&nbsp;0.94 | &nbsp;&nbsp;32 |
| 03/31/23 | &nbsp;&nbsp;24.11 | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;(1.14) | &nbsp;&nbsp;(0.90) | &nbsp;&nbsp;(0.31) | &nbsp;&nbsp;(1.12) | &nbsp;&nbsp;(1.43) | &nbsp;&nbsp;21.78 | (3.31) | &nbsp;&nbsp;&nbsp;&nbsp;8018 | 0.91 | 1.01 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;110<sup>(4)</sup> |
| 03/31/24 | &nbsp;&nbsp;21.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.46<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.40) | &nbsp;&nbsp;25.77 | 20.27 | &nbsp;&nbsp;&nbsp;26204 | 0.89 | 0.92 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;&nbsp;&nbsp;16<sup>(4)</sup> |
| 03/31/25 | &nbsp;&nbsp;25.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.50<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp;3.03 | &nbsp;&nbsp;(0.45) | &nbsp;&nbsp;(0.49) | &nbsp;&nbsp;(0.94) | &nbsp;&nbsp;27.86 | 11.94 | &nbsp;&nbsp;&nbsp;36587 | 0.87 | 0.90 | &nbsp;&nbsp;1.86 | &nbsp;&nbsp;22 |
| 09/30/25<sup>(5)</sup> | &nbsp;&nbsp;27.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.36<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;4.11 | &nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;32.33 | &nbsp;&nbsp;&nbsp;16.05<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;49350 | &nbsp;&nbsp;&nbsp;0.86<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;0.88<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.36<sup>(7)</sup> | &nbsp;&nbsp;&nbsp;9<sup>(6)</sup> |

---

---

| | |
|:---|:---|
| *^* | *Updated to reflect the effect of a 1 for 0.801806 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 0.02% for the year ended March 31, 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>* | *Unaudited.* |
| *<sup>(6)</sup>* | *Not annualized.* |
| *<sup>(7)</sup>* | *Annualized.* |

---

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth Fund** | **Touchstone Sands Capital Emerging Markets Growth 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** | **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** |
| 03/31/21 | $11.36 | $(0.13) | $10.02 | $9.89 | $— | $— | $21.25 | &nbsp;&nbsp;87.06% | $20369 | 1.60% | 1.77% | (1.22)% | 27% |
| 03/31/22 | &nbsp;&nbsp;21.25 | &nbsp;&nbsp;(0.21) | &nbsp;&nbsp;&nbsp;(5.07) | &nbsp;&nbsp;&nbsp;(5.28) | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;(0.32) | &nbsp;&nbsp;15.65 | (25.16) | &nbsp;&nbsp;&nbsp;&nbsp;19694 | 1.60 | 1.60 | (1.03) | &nbsp;&nbsp;&nbsp;28<sup>(2)</sup> |
| 03/31/23 | &nbsp;&nbsp;15.65 | &nbsp;&nbsp;(0.07)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(2.35) | &nbsp;&nbsp;&nbsp;(2.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.23 | (15.35) | &nbsp;&nbsp;&nbsp;&nbsp;16203 | 1.60 | 1.65 | (0.50) | &nbsp;&nbsp;&nbsp;30<sup>(2)</sup> |
| 03/31/24 | &nbsp;&nbsp;13.23 | &nbsp;&nbsp;(0.01)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.19 | &nbsp;&nbsp;&nbsp;7.18 | &nbsp;&nbsp;&nbsp;&nbsp;10483 | 1.60 | 1.70 | (0.07) | 17 |
| 03/31/25 | &nbsp;&nbsp;14.19 | &nbsp;&nbsp;(0.02)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.40 | &nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8794 | 1.52 | 1.65 | (0.14) | 21 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;14.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.46 | &nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;16.88 | &nbsp;&nbsp;&nbsp;&nbsp;17.22<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9337 | &nbsp;&nbsp;&nbsp;1.43<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.63<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.23<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;19<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** |
| 03/31/21 | $11.26 | $(0.14) | $9.79 | $9.65 | $— | $— | $20.91 | &nbsp;&nbsp;85.70% | $9637 | 2.35% | 2.82% | (1.97)% | 27% |
| 03/31/22 | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;(4.99) | &nbsp;&nbsp;&nbsp;(5.34) | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;15.37 | (25.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9107 | 2.35 | 2.46 | (1.78) | &nbsp;&nbsp;&nbsp;28<sup>(2)</sup> |
| 03/31/23 | &nbsp;&nbsp;15.37 | &nbsp;&nbsp;(0.16)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(2.31) | &nbsp;&nbsp;&nbsp;(2.47) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;12.90 | (16.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6154 | 2.35 | 2.56 | (1.25) | &nbsp;&nbsp;&nbsp;30<sup>(2)</sup> |
| 03/31/24 | &nbsp;&nbsp;12.90 | &nbsp;&nbsp;(0.11)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.73 | &nbsp;&nbsp;&nbsp;6.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5667 | 2.35 | 2.68 | (0.82) | 17 |
| 03/31/25 | &nbsp;&nbsp;13.73 | &nbsp;&nbsp;(0.12)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.83 | &nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4884 | 2.24 | 2.58 | (0.86) | 21 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;13.83 | &nbsp;&nbsp;(0.04)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.37 | &nbsp;&nbsp;&nbsp;2.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;16.16 | &nbsp;&nbsp;&nbsp;&nbsp;16.85<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5138 | &nbsp;&nbsp;&nbsp;2.13<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;2.54<sup>(6)</sup> | (0.47)<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;19<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** |
| 03/31/21 | $11.38 | $(0.11) | $10.09 | $9.98 | $— | $— | $21.36 | &nbsp;&nbsp;87.71% | $1460473 | 1.26% | 1.26% | (0.88)% | 27% |
| 03/31/22 | &nbsp;&nbsp;21.36 | &nbsp;&nbsp;(0.17) | &nbsp;&nbsp;&nbsp;(5.08) | &nbsp;&nbsp;&nbsp;(5.25) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;(0.37) | &nbsp;&nbsp;15.74 | (24.89) | &nbsp;&nbsp;1186957 | 1.29 | 1.29 | (0.71) | &nbsp;&nbsp;&nbsp;28<sup>(2)</sup> |
| 03/31/23 | &nbsp;&nbsp;15.74 | &nbsp;&nbsp;(0.03)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(2.36) | &nbsp;&nbsp;&nbsp;(2.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.35 | (15.13) | &nbsp;&nbsp;&nbsp;&nbsp;611637 | 1.29 | 1.29 | (0.19) | &nbsp;&nbsp;&nbsp;30<sup>(2)</sup> |
| 03/31/24 | &nbsp;&nbsp;13.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.03<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.36 | &nbsp;&nbsp;&nbsp;7.57 | &nbsp;&nbsp;&nbsp;&nbsp;578614 | 1.28 | 1.28 | &nbsp;&nbsp;0.25 | 17 |
| 03/31/25 | &nbsp;&nbsp;14.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.02<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;(0.02) | &nbsp;&nbsp;14.60 | &nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;466489 | 1.22 | 1.22 | &nbsp;&nbsp;0.16 | 21 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;14.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.50 | &nbsp;&nbsp;&nbsp;2.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;17.14 | &nbsp;&nbsp;&nbsp;&nbsp;17.40<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;497838 | &nbsp;&nbsp;&nbsp;1.15<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.15<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.51<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;19<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** |
| 03/31/21 | $11.43 | $(0.11) | $10.15 | $10.04 | $— | $— | $21.47 | &nbsp;&nbsp;87.79% | $2867373 | 1.21%<sup>(7)</sup> | 1.20% | (0.83)% | 27% |
| 03/31/22 | &nbsp;&nbsp;21.47 | &nbsp;&nbsp;(0.29) | &nbsp;&nbsp;&nbsp;(4.97) | &nbsp;&nbsp;&nbsp;(5.26) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;(0.38) | &nbsp;&nbsp;15.83 | (24.81) | &nbsp;&nbsp;1252461 | 1.20 | 1.20 | (0.62) | &nbsp;&nbsp;&nbsp;28<sup>(2)</sup> |
| 03/31/23 | &nbsp;&nbsp;15.83 | &nbsp;&nbsp;(0.02)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(2.38) | &nbsp;&nbsp;&nbsp;(2.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.43 | (15.11) | &nbsp;&nbsp;&nbsp;&nbsp;931523 | 1.23 | 1.23 | (0.13) | &nbsp;&nbsp;&nbsp;30<sup>(2)</sup> |
| 03/31/24 | &nbsp;&nbsp;13.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.46 | &nbsp;&nbsp;&nbsp;7.67 | &nbsp;&nbsp;&nbsp;&nbsp;907364 | 1.23 | 1.23 | &nbsp;&nbsp;0.30 | 17 |
| 03/31/25 | &nbsp;&nbsp;14.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;14.70 | &nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;773951 | 1.13 | 1.15 | &nbsp;&nbsp;0.25 | 21 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;14.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.05<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.52 | &nbsp;&nbsp;&nbsp;2.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;17.27 | &nbsp;&nbsp;&nbsp;&nbsp;17.48<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;896536 | &nbsp;&nbsp;&nbsp;1.04<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.09<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.62<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;19<sup>(5)</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** |
| 03/31/22<sup>(8)</sup> | $22.37 | $0.15 | $(6.31) | $(6.16) | $(0.38) | $(0.38) | $15.83 | (27.85)%<sup>(5)</sup> | $1109805 | 1.17%<sup>(6)</sup> | 1.17%<sup>(6)</sup> | (0.59)%<sup>(6)</sup> | 28%<sup>(2)</sup> |
| 03/31/23 | &nbsp;&nbsp;15.83 | &nbsp;&nbsp;(0.01)<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;(2.39) | &nbsp;&nbsp;&nbsp;(2.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(9)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(9)</sup> | &nbsp;&nbsp;13.43 | (15.03) | &nbsp;&nbsp;&nbsp;&nbsp;696638 | 1.18 | 1.18 | (0.08) | &nbsp;&nbsp;&nbsp;30<sup>(2)</sup> |
| 03/31/24 | &nbsp;&nbsp;13.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.05<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.47 | &nbsp;&nbsp;&nbsp;7.66 | &nbsp;&nbsp;&nbsp;&nbsp;696672 | 1.18 | 1.18 | &nbsp;&nbsp;0.35 | 17 |
| 03/31/25 | &nbsp;&nbsp;14.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.04<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;(0.03) | &nbsp;&nbsp;14.71 | &nbsp;&nbsp;&nbsp;1.90 | &nbsp;&nbsp;&nbsp;&nbsp;558257 | 1.09 | 1.11 | &nbsp;&nbsp;0.29 | 21 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;14.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.05<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;2.52 | &nbsp;&nbsp;&nbsp;2.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;17.28 | &nbsp;&nbsp;&nbsp;&nbsp;17.47<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;650547 | &nbsp;&nbsp;&nbsp;1.00<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.04<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.66<sup>(6)</sup> | 19<sup>(5)</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 securities delivered from processing redemptions-in-kind.* 

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

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

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

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

*<sup>(7)</sup>* *Net expenses include amounts recouped by the Adviser.* 

*<sup>(8)</sup>* *Represents the period from commencement of operations (April 26, 2021) through March 31, 2022.* 

*<sup>(9)</sup>* *Less than $0.005 per share.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Financial Highlights (Continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** | **Touchstone Strategic Income Fund** |
| **Period ended** | **Net<br> asset<br> value at<br> beginning<br> of period** | **Net<br> investment<br> income<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** | **Return of<br> capital** | **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** |
| 03/31/21 | $3.15 | $0.10 | $0.33 | $0.43 | $(0.11) | $— | $(0.11) | $3.47 | 13.87% | $173600 | 1.10% | 1.37% | 2.91% | 111% |
| 03/31/22 | &nbsp;&nbsp;3.47 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.09) | &nbsp;&nbsp;3.27 | (3.22) | &nbsp;&nbsp;177574 | 1.03 | 1.14 | 2.38 | &nbsp;&nbsp;&nbsp;155<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;3.02 | (3.44) | &nbsp;&nbsp;138096 | 1.00 | 1.12 | 4.01 | &nbsp;&nbsp;78 |
| 03/31/24 | &nbsp;&nbsp;3.02 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;3.13 | &nbsp;&nbsp;8.77 | &nbsp;&nbsp;128461 | 1.00 | 1.16 | 5.01 | 113 |
| 03/31/25 | &nbsp;&nbsp;3.13 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;3.20 | &nbsp;&nbsp;7.05 | &nbsp;&nbsp;119410 | 1.00 | 1.13 | 4.47 | 144 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;3.20 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;3.28 | &nbsp;&nbsp;&nbsp;&nbsp;4.93<sup>(5)</sup> | &nbsp;&nbsp;122666 | &nbsp;&nbsp;&nbsp;1.00<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;1.13<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;4.69<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;98<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** |
| 03/31/21 | $3.16 | $0.08 | $0.33 | $0.41 | $(0.09) | $— | $(0.09) | $3.48 | 13.11% | $39402 | 1.78% | 2.05% | 2.26% | 111% |
| 03/31/22 | &nbsp;&nbsp;3.48 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;(0.20) | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;3.28 | (4.03) | &nbsp;&nbsp;&nbsp;42046 | 1.74 | 1.88 | 1.62 | &nbsp;&nbsp;&nbsp;155<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;3.28 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(7)</sup> | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;3.03 | (4.12) | &nbsp;&nbsp;&nbsp;24451 | 1.71 | 1.90 | 3.30 | &nbsp;&nbsp;78 |
| 03/31/24 | &nbsp;&nbsp;3.03 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;8.29 | &nbsp;&nbsp;&nbsp;16873 | 1.71 | 1.97 | 4.30 | 113 |
| 03/31/25 | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.12) | &nbsp;&nbsp;3.22 | &nbsp;&nbsp;6.23 | &nbsp;&nbsp;&nbsp;10264 | 1.71 | 1.99 | 3.76 | 144 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;3.22 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.06) | &nbsp;&nbsp;3.30 | &nbsp;&nbsp;&nbsp;&nbsp;4.52<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7974 | &nbsp;&nbsp;&nbsp;1.71<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;2.12<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;3.98<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;98<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** |
| 03/31/21 | $3.15 | $0.10 | $0.33 | $0.43 | $(0.12) | $— | $(0.12) | $3.46 | 13.77% | $140047 | 0.90% | 1.17% | 3.08% | 111% |
| 03/31/22<sup>(8)</sup> | &nbsp;&nbsp;3.46 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;(0.19) | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.10) | &nbsp;&nbsp;3.26 | (2.97) | &nbsp;&nbsp;106650 | 0.79 | 0.91 | 2.62 | &nbsp;&nbsp;&nbsp;155<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;3.26 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;(0.13) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;3.01 | (3.19) | &nbsp;&nbsp;&nbsp;59269 | 0.75 | 0.87 | 4.26 | &nbsp;&nbsp;78 |
| 03/31/24 | &nbsp;&nbsp;3.01 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;3.12 | &nbsp;&nbsp;9.07 | &nbsp;&nbsp;&nbsp;56982 | 0.75 | 0.91 | 5.26 | 113 |
| 03/31/25 | &nbsp;&nbsp;3.12 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;3.19 | &nbsp;&nbsp;7.34 | &nbsp;&nbsp;&nbsp;75047 | 0.75 | 0.90 | 4.72 | 144 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;3.19 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;&nbsp;&nbsp;5.08<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;77816 | &nbsp;&nbsp;&nbsp;0.75<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;0.89<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;4.94<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;98<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** |
| 03/31/22<sup>(9)</sup> | $3.50 | $0.06 | $(0.23) | $(0.17) | $(0.07) | $— | $(0.07) | $3.26 | (4.94)%<sup>(5)</sup> | $263 | 0.65%<sup>(6)</sup> | 3.91%<sup>(6)</sup> | 2.56%<sup>(6)</sup> | 155%<sup>(3)</sup> |
| 03/31/23 | &nbsp;&nbsp;3.26 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;(0.24) | &nbsp;&nbsp;(0.11) | &nbsp;&nbsp;(0.14) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;3.00 | (3.35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | 0.65 | 3.89 | 4.36 | &nbsp;&nbsp;78 |
| 03/31/24 | &nbsp;&nbsp;3.00 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;3.11 | &nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;1297 | 0.65 | 1.67 | 5.36 | 113 |
| 03/31/25 | &nbsp;&nbsp;3.11 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;(0.15) | &nbsp;&nbsp;(0.01) | &nbsp;&nbsp;(0.16) | &nbsp;&nbsp;3.19 | &nbsp;&nbsp;7.80 | &nbsp;&nbsp;&nbsp;92339 | 0.65 | 0.88 | 4.82 | 144 |
| 09/30/25<sup>(4)</sup> | &nbsp;&nbsp;3.19 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.08) | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;&nbsp;&nbsp;5.14<sup>(5)</sup> | &nbsp;&nbsp;&nbsp;90121 | &nbsp;&nbsp;&nbsp;0.65<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;0.85<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;5.04<sup>(6)</sup> | &nbsp;&nbsp;98<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 of the AIG Flexible Credit 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.* 

*<sup>(8)</sup>* *Effective July 16, 2021, Class W shares of the AIG Strategic Bond Fund were reorganized into Class Y shares of the Fund.* 

*<sup>(9)</sup>* *Represents the period from commencement of operations (July 19, 2021) through March 31, 2022 for Institutional Class.* 

*See accompanying Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements

September 30, 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 seven funds (individually, a "Fund", and collectively, the "Funds"):

---

| |
|:---|
| Touchstone Dynamic Large Cap Growth Fund (formerly Touchstone Growth Opportunities Fund) ("Dynamic Large Cap Growth Fund") |
| Touchstone Flexible Income Fund ("Flexible Income Fund") |
| Touchstone Focused Fund ("Focused Fund") |
| Touchstone Mid Cap Growth Fund ("Mid Cap Growth Fund") |
| Touchstone Non-US Equity Fund ("Non-US Equity Fund") |
| Touchstone Sands Capital Emerging Markets Growth Fund ("Sands Capital Emerging Markets Growth Fund") |
| Touchstone Strategic Income Fund ("Strategic Income Fund") |

---

Each Fund is diversified, with the exception of the Dynamic Large Cap Growth Fund, the Focused Fund and the Sands Capital Emerging Markets 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<br> Class** | &nbsp;&nbsp;**Class R6** |
| Dynamic Large Cap Growth Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |
| Flexible Income Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Focused Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Mid Cap Growth Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |
| Non-US Equity Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |
| Sands Capital Emerging Markets Growth Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |
| Strategic Income Fund | X | &nbsp;&nbsp;X | &nbsp;&nbsp;X | &nbsp;&nbsp;X |  |

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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 September 30, 2025, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Strategic Income Fund held Level 3 categorized securities during the six months ended September 30, 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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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 Flexible Income Fund and Strategic Income 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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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.

**Securities sold short —The Flexible Income Fund may engage in selling securities short, which obligates the Fund to replace a security borrowed by purchasing the same security at the current market value. The Fund would incur a loss if the price of the security increases between the date of the short sale and the date on which the Fund replaces the borrowed security. The Fund would realize a gain if the price of the security declines between those dates.**

**Options — The Flexible Income Fund and Strategic Income Fund may write or purchase financial option contracts primarily to hedge against changes in the value of equity securities (or securities that the Fund intends to purchase), against fluctuations in fair value caused by changes in prevailing market interest rates or foreign currency exchange rates and against changes in overall equity market volatility. In addition, the Funds may utilize options in an attempt to generate gains from option premiums or to reduce overall portfolio risk. The Funds' option strategy primarily focuses on the use of writing and/or purchasing call or put options on equity indexes. When the Funds write and purchase an option, an amount equal to the premium received or paid by the Funds is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option written or purchased. Premiums received or paid from writing or purchasing options which expire unexercised are treated by the Funds on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Funds have realized a gain or loss on investment transactions. The Funds, as writer of an option, may have no control over whether the underlying securities may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the security underlying the written option. The Funds, as purchaser of an option, bear the risk that the counterparties to the option may not have the ability to meet the terms of the option contract. There is minimal counterparty credit risk involved in entering into option contracts since they are exchange-traded instruments and the exchange's clearinghouse, as counterparty to all exchange-traded options, guarantees the options against default. The maximum risk of loss associated with writing put options is the notional amount as presented in the Portfolio of Investments. In certain circumstances, the maximum risk of loss amounts may be partially offset by recovery values of the respective referenced assets and upfront premium received upon entering into the contract. The maximum risk of loss associated with writing call options is potentially unlimited.**

**Futures Contracts — The Flexible Income Fund and Strategic Income Fund may buy and sell futures contracts and related options to manage their exposure to changing interest rates and securities prices. Some strategies reduce a 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 a Fund's return. When a Fund purchases or sells a futures contract, or sells an option thereon, a 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 Flexible Income Fund and Strategic Income Fund may enter into swap transactions to help enhance the value of their portfolios or manage their 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.

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Notes to Financial Statements (Unaudited) (Continued)

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. A 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, a 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").

#### 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 Flexible Income Fund and Strategic Income 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.

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Notes to Financial Statements (Unaudited) (Continued)

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 Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities.

As of September 30, 2025, the Funds did not hold any assets and liabilities that were subject to a MNA.

The following table sets forth the fair value of the Funds' derivative financial instruments by primary risk exposure as of September 30, 2025:

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| | | |
|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset<br> Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liability<br> Derivatives** |
| Strategic Income 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 Contracts - Interest Rate Contracts<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$237421 |

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*(1)* *Statements of Assets and Liabilities Location: Receivable for variation margin on futures contracts. Only current day's variation margin is reported within the payable/receivable on the Statement of Assets and Liabilities. Includes cumulative appreciation/(depreciation) on futures contracts as reported on the Portfolio of Investments and within the components of net assets section of the Statement of Assets and Liabilities.* 

The following table sets forth the effect of the Funds' derivative financial instruments by primary risk exposure on the Statements of Operations for the six months ended September 30, 2025:

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| | | |
|:---|:---|:---|
| **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** |
| Flexible Income 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;$1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased Options - Equity Contracts<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written Options - Equity Contracts<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &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>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Income 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;&nbsp;&nbsp;&nbsp;&nbsp;689502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(556482) |
| &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>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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*(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 (losses) on investments and Net change in unrealized appreciation (depreciation) on investments, respectively.* 

*(3)* *Statements of Operations Location: Net realized gains on written options.* 

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

For the six months ended September 30, 2025, the average quarterly balances of outstanding derivative financial instruments for the Funds were as follows:

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| | | |
|:---|:---|:---|
|  | **Flexible Income Fund** | &nbsp;&nbsp;**Strategic Income Fund** |
| **Equity Contracts:** |  |  |
| &nbsp;&nbsp;&nbsp;Purchased Options - Cost | $969741 | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Written Options - Premiums received | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;Credit Default Swaps (buy protection) - Notional value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| **Interest Rate Contracts:** |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts (long) - Notional Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;76198721 |

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Notes to Financial Statements (Unaudited) (Continued)

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| | | |
|:---|:---|:---|
|  | **Flexible Income Fund** | &nbsp;&nbsp;**Strategic Income Fund** |
| &nbsp;&nbsp;&nbsp;Futures Contracts (short) - Notional Value | $— | &nbsp;&nbsp;$10970912 |

---

*(1)* *The balance at each quarter end was zero.* 

**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 September 30, 2025, the following Funds loaned securities and received collateral as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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>** |
| Flexible Income Fund | Corporate Bonds | &nbsp;&nbsp;$74353 | &nbsp;&nbsp;$77500 | &nbsp;&nbsp;$3147 |
|  | Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;4578794 | &nbsp;&nbsp;&nbsp;&nbsp;4691500 | &nbsp;&nbsp;&nbsp;&nbsp;112706 |
| Total Flexible Income Fund |  | &nbsp;&nbsp;&nbsp;&nbsp;4653147 | &nbsp;&nbsp;&nbsp;&nbsp;4769000 | &nbsp;&nbsp;&nbsp;&nbsp;115853 |
| Focused Fund | Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;5345500 | &nbsp;&nbsp;&nbsp;&nbsp;5530000 | &nbsp;&nbsp;&nbsp;&nbsp;184500 |
| Non-US Equity Fund | Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;6858009 | &nbsp;&nbsp;&nbsp;&nbsp;7001373 | &nbsp;&nbsp;&nbsp;&nbsp;143364 |
| Strategic Income Fund | Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780305 | &nbsp;&nbsp;&nbsp;&nbsp;35003 |

---

*(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 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.

**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 funds except the Flexible Income Fund and the Strategic Income 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 Flexible Income Fund and the Strategic Income 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 Class C, Class Y, Institutional Class and Class 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**

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

the basis of interest accrued, premium amortized and discount accreted. Realized gains and losses resulting from principal paydowns 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 for the Flexible Income Fund and the Strategic Income Fund, declares and distributes net investment income, if any, annually, as a dividend to shareholders. The Flexible Income Fund and the Strategic Income Fund declare and distribute net investment income, if any, monthly as a dividend to shareholders. 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 Funds Group Trust, Touchstone ETF 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, 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.**

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

3. Investment Transactions

Investment transactions (excluding short-term investments and U.S. Government securities) were as follows for the six months ended September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Dynamic<br> Large Cap<br> Growth Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Flexible<br> Income<br> Fund** | &nbsp;&nbsp;**Focused<br> Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Mid Cap<br> Growth<br> Fund<sup>(1)</sup>** | &nbsp;&nbsp;**Non-US<br> Equity Fund** | &nbsp;&nbsp;**Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;**Strategic<br> Income<br> Fund** |
| Purchases of investment securities | $131467764 | &nbsp;&nbsp;$597297392 | &nbsp;&nbsp;$40112769 | &nbsp;&nbsp;$630338124 | &nbsp;&nbsp;$304118022 | &nbsp;&nbsp;$363815658 | &nbsp;&nbsp;$71976637 |
| Proceeds from sales and maturities | $137899559 | &nbsp;&nbsp;$500694103 | &nbsp;&nbsp;$65540478 | &nbsp;&nbsp;$649550950 | &nbsp;&nbsp;$84402846 | &nbsp;&nbsp;$428068779 | &nbsp;&nbsp;$54079038 |

---

*(1)* *The Dynamic Large Cap Growth Fund, the Focused Fund and the Mid Cap Growth Fund had redemption-in-kinds out of the Fund of $9,784,438, $27,789,981 and $88,230,752, respectively, which are excluded from the proceeds from sales and maturities.* 

For the six months ended September 30, 2025, purchases and proceeds from sales and maturities in U.S. Government Securities were $65,680,545 and $44,571,643, respectively, for the Flexible Income Fund and $206,699,717 and $235,400,256, respectively, for the Strategic Income 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 September 30, 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 $110,292 for the Funds' Board for the six months ended September 30, 2025.

#### 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.

---

| | |
|:---|:---|
| Dynamic Large Cap Growth Fund<sup>(1)</sup> | &nbsp;&nbsp;0.60% on the first $200 million<br> 0.40% on such assets in excess of $200 million |
| Flexible Income Fund | &nbsp;&nbsp;0.60% on the first $500 million<br> 0.50% on such assets in excess of $500 million |
| Focused Fund | &nbsp;&nbsp;0.70% on the first $100 million<br> 0.65% on the next $400 million<br> 0.60% on such assets in excess of $500 million |
| Mid Cap Growth Fund | &nbsp;&nbsp;0.74% on the first $500 million<br> 0.69% on the next $500 million<br> 0.65% on the next $200 million<br> 0.60% on such assets in excess of $1.2 billion |
| Non-US Equity Fund | &nbsp;&nbsp;0.65% on the first $1 billion<br> 0.60% on such assets in excess of $1 billion |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;1.00% on the first $200 million<br> 0.85% on the next $2.8 billion<br> 0.80% on such assets in excess of $3 billion |
| Strategic Income Fund | &nbsp;&nbsp;0.55% on the first $250 million<br> 0.50% on the next $250 million<br> 0.45% on such assets in excess $500 million |

---

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

*(1)* *Prior to May 9, 2025, the Fund paid 0.75% on the first $500 million, 0.70% on the next $500 million and 0.65% on such assets over $1 billion.* 

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

---

| | |
|:---|:---|
| **Bramshill Investments, LLC** | &nbsp;&nbsp;**Sands Capital Management, LLC** |
| Flexible Income Fund | &nbsp;&nbsp;Sands Capital Emerging Markets Growth Fund |
| **Fort Washington Investment Advisors, Inc.<sup>(1)</sup>** | &nbsp;&nbsp;**Westfield Capital Management Company, L.P.** |
| Focused Fund | &nbsp;&nbsp;Mid Cap Growth Fund |
| Strategic Income Fund | &nbsp;&nbsp;**Los Angeles Capital Management LLC** |
| **Rockefeller & Co., LLC** | &nbsp;&nbsp;Dynamic Large Cap Growth Fund<sup>(2)</sup> |
| Non-US Equity Fund |  |

---

*(1)* *Affiliate of the Adviser and wholly-owned subsidiary of Western & Southern.* 

*(2)* *Prior to May 9, 2025, the sub-advisor was Westfield Capital Management Company, L.P.* 

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. 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** |
| Dynamic Large Cap Growth Fund<sup>(1)</sup> | &nbsp;&nbsp;0.99% | &nbsp;&nbsp;1.71% | &nbsp;&nbsp;0.66% | &nbsp;&nbsp;0.60% | &nbsp;&nbsp;0.55% | &nbsp;&nbsp;July 29, 2026 |
| Flexible Income 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;July 29, 2026 |
| Focused Fund | &nbsp;&nbsp;1.20% | &nbsp;&nbsp;1.89% | &nbsp;&nbsp;0.95% | &nbsp;&nbsp;0.83% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;July 29, 2026 |
| Mid Cap Growth Fund | &nbsp;&nbsp;1.39% | &nbsp;&nbsp;1.99% | &nbsp;&nbsp;0.97% | &nbsp;&nbsp;0.86% | &nbsp;&nbsp;0.77% | &nbsp;&nbsp;July 29, 2026 |
| Non-US Equity Fund | &nbsp;&nbsp;1.17% | &nbsp;&nbsp;1.92% | &nbsp;&nbsp;0.90% | &nbsp;&nbsp;0.86% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;July 29, 2026 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;1.43% | &nbsp;&nbsp;2.13% | &nbsp;&nbsp;1.21% | &nbsp;&nbsp;1.04% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;July 29, 2026 |
| Strategic Income Fund | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.71% | &nbsp;&nbsp;0.75% | &nbsp;&nbsp;0.65% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;July 29, 2026 |

---

*(1)* *Prior to May 9, 2025, the expense limitations for Classes A, C, Y and Institutional Class were 1.24%, 1.99%, 0.99% and 0.89%, respectively.* 

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

During the six months ended September 30, 2025, the Adviser or its affiliates waived or reimbursed 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** |
| Dynamic Large Cap Growth Fund | &nbsp;&nbsp;$124783 | &nbsp;&nbsp;$50792 | &nbsp;&nbsp;$9697 | &nbsp;&nbsp;$185272 |
| Flexible Income 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;&nbsp;&nbsp;38644 | &nbsp;&nbsp;&nbsp;&nbsp;38644 |
| Focused 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;&nbsp;&nbsp;17835 | &nbsp;&nbsp;&nbsp;&nbsp;17835 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;72381 | &nbsp;&nbsp;&nbsp;&nbsp;90966 | &nbsp;&nbsp;&nbsp;&nbsp;163347 |
| Non-US Equity 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;&nbsp;&nbsp;19145 | &nbsp;&nbsp;&nbsp;&nbsp;19145 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;100433 | &nbsp;&nbsp;&nbsp;&nbsp;244369 | &nbsp;&nbsp;&nbsp;&nbsp;344802 |
| Strategic Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;40345 | &nbsp;&nbsp;&nbsp;&nbsp;191414 | &nbsp;&nbsp;&nbsp;&nbsp;231759 |

---

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.

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

As of September 30, 2025, the Adviser may seek recoupment of previously waived fees and reimbursed expenses as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Expires on<br> or before<br> March 31, 2026** | **Expires on<br> or before<br> March 31, 2027** | **Expires on<br> or before<br> March 31, 2028** | **Expires on<br> or before<br> March 31, 2029** | **Total** |
| Dynamic Large Cap Growth Fund | $49972 | $130445 | $123087 | $115852 | $419356 |
| Flexible Income Fund | &nbsp;&nbsp;&nbsp;111919 | &nbsp;&nbsp;&nbsp;142721 | &nbsp;&nbsp;&nbsp;&nbsp;39977 | &nbsp;&nbsp;&nbsp;&nbsp;18311 | &nbsp;&nbsp;&nbsp;312928 |
| Focused Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4839 | &nbsp;&nbsp;&nbsp;&nbsp;21771 | &nbsp;&nbsp;&nbsp;&nbsp;14078 | &nbsp;&nbsp;&nbsp;&nbsp;10199 | &nbsp;&nbsp;&nbsp;&nbsp;50887 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;149233 | &nbsp;&nbsp;&nbsp;313884 | &nbsp;&nbsp;&nbsp;359206 | &nbsp;&nbsp;&nbsp;156168 | &nbsp;&nbsp;&nbsp;978491 |
| Non-US Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;18581 | &nbsp;&nbsp;&nbsp;&nbsp;55902 | &nbsp;&nbsp;&nbsp;110203 | &nbsp;&nbsp;&nbsp;&nbsp;10239 | &nbsp;&nbsp;&nbsp;194925 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;324181 | &nbsp;&nbsp;&nbsp;325507 | &nbsp;&nbsp;&nbsp;649688 |
| Strategic Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;37104 | &nbsp;&nbsp;&nbsp;&nbsp;97252 | &nbsp;&nbsp;&nbsp;207011 | &nbsp;&nbsp;&nbsp;137218 | &nbsp;&nbsp;&nbsp;478585 |

---

During the six months ended September 30, 2025, the Adviser is eligible to recoup previously waived fees or reimbursed expenses from Flexible Income Fund and Mid Cap Growth Fund of $142,987 and $23,694, respectively.

#### 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 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).

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

#### 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 September 30, 2025:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| Dynamic Large Cap Growth Fund | $2229 |
| Flexible Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;694 |
| Focused Fund | &nbsp;&nbsp;&nbsp;6656 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;9951 |
| Non-US Equity Fund | &nbsp;&nbsp;&nbsp;6655 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;242 |
| Strategic Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;492 |

---

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 September 30, 2025:

---

| | | |
|:---|:---|:---|
| **Fund** | **Class A** | &nbsp;&nbsp;&nbsp;**Class C** |
| Dynamic Large Cap Growth Fund | $— | &nbsp;&nbsp;&nbsp;$190 |
| Flexible Income Fund | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;347 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Non-US Equity Fund | &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Income Fund | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |

---

#### 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 September 30, 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 September 30, 2025, the following Funds utilized ReFlow. The number of shares ReFlow subscribed to and dollar amount of redemptions-in-kind were as follows:

---

| | | |
|:---|:---|:---|
| **Fund** | &nbsp;&nbsp;**Shares ReFlow<br> Subscribed to** | &nbsp;&nbsp;**Redemptions-in-kind** |
| Dynamic Large Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;241617 | &nbsp;&nbsp;$9784438 |
| Focused Fund | &nbsp;&nbsp;&nbsp;&nbsp;409705 | &nbsp;&nbsp;&nbsp;&nbsp;27789981 |
| Mid Cap Growth Fund | &nbsp;&nbsp;2291520 | &nbsp;&nbsp;&nbsp;&nbsp;88230752 |

---

**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.**

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

During the six months ended September 30, 2025, the following Funds participated as borrowers 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>** |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;$315685 | &nbsp;&nbsp;4.89% | &nbsp;&nbsp;$7837 |
| Strategic Income Fund | &nbsp;&nbsp;$67231 | &nbsp;&nbsp;4.88% | &nbsp;&nbsp;$1669 |

---

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

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 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 March 31, 2025 and March 31, 2024 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Dynamic Large Cap Growth Fund** | **Dynamic Large Cap Growth Fund** | &nbsp;&nbsp;&nbsp;**Flexible Income Fund** | &nbsp;&nbsp;&nbsp;**Flexible Income Fund** | &nbsp;&nbsp;&nbsp;**Focused Fund** | &nbsp;&nbsp;&nbsp;**Focused Fund** |
|  | **Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** |
| From ordinary income | $3816252 | &nbsp;&nbsp;&nbsp;$4218 | &nbsp;&nbsp;&nbsp;$66988269 | &nbsp;&nbsp;&nbsp;$39387547 | &nbsp;&nbsp;&nbsp;$7553567 | &nbsp;&nbsp;&nbsp;$4415457 |
| From long-term capital gains | &nbsp;&nbsp;&nbsp;5692872 | &nbsp;&nbsp;&nbsp;&nbsp;3420878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6433867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9886009 |
| Total distributions | $9509124 | &nbsp;&nbsp;&nbsp;$3425096 | &nbsp;&nbsp;&nbsp;$66988269 | &nbsp;&nbsp;&nbsp;$39387547 | &nbsp;&nbsp;&nbsp;$13987434 | &nbsp;&nbsp;&nbsp;$14301466 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Mid Cap Growth Fund** | **Mid Cap Growth Fund** | &nbsp;&nbsp;&nbsp;**Non-US Equity Fund** | &nbsp;&nbsp;&nbsp;**Non-US Equity Fund** | &nbsp;&nbsp;&nbsp;**Sands Capital Emerging Markets Growth Fund** | &nbsp;&nbsp;&nbsp;**Sands Capital Emerging Markets Growth Fund** |
|  | **Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** |
| From ordinary income | $7270800 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$10213053 | &nbsp;&nbsp;&nbsp;$8683646 | &nbsp;&nbsp;&nbsp;$3537058 | &nbsp;&nbsp;&nbsp;$— |
| From long-term capital gains | &nbsp;&nbsp;&nbsp;30263836 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12378954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 | $37534636 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$22592007 | &nbsp;&nbsp;&nbsp;$8683646 | &nbsp;&nbsp;&nbsp;$3537058 | &nbsp;&nbsp;&nbsp;$— |

---

---

| | | |
|:---|:---|:---|
|  | **Strategic Income Fund** | **Strategic Income Fund** |
|  | **Year Ended<br> March 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Year Ended<br> March 31,<br> 2024** |
| From ordinary income | $11425590 | &nbsp;&nbsp;&nbsp;$9864583 |
| From return of capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions | $11936230 | &nbsp;&nbsp;&nbsp;$9864583 |

---

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

The following information is computed on a tax basis for each item as of March 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Dynamic<br> Large Cap<br> Growth Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Flexible<br> Income<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Focused<br> Fund** |
| Tax cost of portfolio investments | &nbsp;&nbsp;$90810734 | &nbsp;&nbsp;&nbsp;&nbsp;$1692298413 | &nbsp;&nbsp;&nbsp;&nbsp;$619693834 |
| Gross unrealized appreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;55955402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18839606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659507553 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;(3578841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37902303) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11812369) |
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp;52376561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19062697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647695184 |
| Gross unrealized 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;&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 | &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) |
| 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;(23882059) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9182588) |
| 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;4185639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5281031 |
| Other temporary differences | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37) |
| Accumulated earnings (deficit) | &nbsp;&nbsp;$52376560 | &nbsp;&nbsp;&nbsp;&nbsp;$(38778112) | &nbsp;&nbsp;&nbsp;&nbsp;$643793589 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Mid Cap<br> Growth<br> Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Non-US<br> Equity Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Sands Capital<br> Emerging<br> Markets<br> Growth Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic<br> Income<br> Fund** |
| Tax cost of portfolio investments | &nbsp;&nbsp;$1017315902 | &nbsp;&nbsp;&nbsp;&nbsp;$621764657 | &nbsp;&nbsp;&nbsp;&nbsp;$1459615934 | &nbsp;&nbsp;&nbsp;&nbsp;$296589849 |
| Gross unrealized appreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293083629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222592949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579227140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278341 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87296878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41763506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216408268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6910250) |
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205786751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180829443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362818872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2631909) |
| Gross unrealized appreciation 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;1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Gross unrealized 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;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17927243) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) |
| 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;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17782459) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) |
| 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(841966025) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79166834) |
| Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6277331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18738368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Undistributed capital gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32774945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12485866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other temporary differences | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(713941) |
| Accumulated earnings (deficit) | &nbsp;&nbsp;$244839027 | &nbsp;&nbsp;&nbsp;&nbsp;$197846155 | &nbsp;&nbsp;&nbsp;&nbsp;$(478191244) | &nbsp;&nbsp;&nbsp;&nbsp;$(82512695) |

---

The difference between the tax cost of portfolio investments and the financial statement cost is primarily due to wash sale loss deferrals, trust preferred securities, callable bonds, taxable interest on defaulted securities, amortization adjustments on bonds and certain timing differences in the recognition of capital losses under income tax regulations and U.S. GAAP and investments in passive foreign investment company ("PFIC") adjustments.

As of March 31, 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** |
| Flexible Income Fund | &nbsp;&nbsp;$4482451 | &nbsp;&nbsp;&nbsp;$19399608 | &nbsp;&nbsp;&nbsp;$23882059 |
| Focused 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;9182588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9182588 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;486867356 | &nbsp;&nbsp;&nbsp;&nbsp;355098669 | &nbsp;&nbsp;&nbsp;&nbsp;841966025 |
| Strategic Income Fund\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6744232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72422602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79166834 |

---

*\** *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 March 31, 2025, the following Fund utilized capital loss carryforwards:

---

| | |
|:---|:---|
| **Fund** | &nbsp;&nbsp;**Utilized** |
| Mid Cap Growth Fund | &nbsp;&nbsp;$5194964 |
| Non-US Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;3138486 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;72941039 |

---

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

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 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 September 30, 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)** |
| Dynamic Large Cap Growth Fund | $91491922 | &nbsp;&nbsp;&nbsp;$70153350 | &nbsp;&nbsp;&nbsp;$(1100328) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$69053022 |
| Flexible Income Fund | &nbsp;&nbsp;&nbsp;1756349858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35231110 | &nbsp;&nbsp;&nbsp;&nbsp;(26933011) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8298099 |
| Focused Fund | &nbsp;&nbsp;&nbsp;&nbsp;604472956 | &nbsp;&nbsp;&nbsp;&nbsp;829235880 | &nbsp;&nbsp;&nbsp;&nbsp;(20426927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;808808953 |
| Mid Cap Growth Fund | &nbsp;&nbsp;&nbsp;1067481071 | &nbsp;&nbsp;&nbsp;&nbsp;384055611 | &nbsp;&nbsp;&nbsp;&nbsp;(28669802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;355385809 |
| Non-US Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;827984561 | &nbsp;&nbsp;&nbsp;&nbsp;304333015 | &nbsp;&nbsp;&nbsp;&nbsp;(16894589) | &nbsp;&nbsp;&nbsp;&nbsp;73591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) | &nbsp;&nbsp;&nbsp;&nbsp;287512015 |
| Sands Capital Emerging Markets Growth Fund | &nbsp;&nbsp;&nbsp;1367836129 | &nbsp;&nbsp;&nbsp;&nbsp;781207484 | &nbsp;&nbsp;&nbsp;&nbsp;(63919021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1636) | &nbsp;&nbsp;&nbsp;&nbsp;717296814 |
| Strategic Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;296199467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7037736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3988392) | &nbsp;&nbsp;&nbsp;&nbsp;18058 | &nbsp;&nbsp;&nbsp;&nbsp;(237421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829981 |

---

*<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**

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[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_financials)

Notes to Financial Statements (Unaudited) (Continued)

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 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 Leverage – The use of leverage (borrowing money to purchase properties or securities) will cause the Fund to incur additional expenses and significantly magnify losses in the event of underperformance of the assets purchased with borrowed money. In addition, a lender may terminate or refuse to renew any credit facility. If the Fund is unable to access additional credit, it may be forced to sell investments at inopportune times, which may further depress the returns of the Fund.**

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

------

[**Table of Contents**](#JOB_TS_-__20f1d105-4621-4e9d-b030-4aa6052293fb_TOCtm2532197d1_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.

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![](tm2532197d1financialsi001.gif)

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![](tm2532197d1financialsi002.gif)

#### 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-2509

**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.**

Not applicable.

**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)](tm2532197d1_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.](tm2532197d1_ex99-cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b)](tm2532197d1_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.](tm2532197d1_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>12/1/2025</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>12/1/2025</u>

---

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

---

Date: <u>12/1/2025</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: | 12/1/2025 | /s/ Terrie A. Wiedenheft |
|  |  | Terrie A. Wiedenheft, President<br> (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: | 12/1/2025 | /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: | 12/1/2025 | /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: | 12/1/2025 | /s/ Terri A. Lucas |
|  |  | Terri A. Lucas, Controller and Treasurer |
|  |  | (principal financial officer) |

---