# EDGAR Filing Document

**Accession Number:** 0000916490
**File Stem:** 0001398344-25-017675
**Filing Date:** 2025-9
**Character Count:** 248782
**Document Hash:** 92be53ee65bf2412a2abd397e9134d98
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-017675.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001398344-25-017675

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**EFFECTIVENESS DATE**: 20250905

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08228
- **FILM NUMBER:** 251295655

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

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

## Series and Classes Contracts Data

### Timothy Plan US Large/Mid Cap Core ETF (Series ID: S000063763)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000206641 | Timothy Plan US Large/Mid Cap Core ETF | TPLC            |

### Timothy Plan US Small Cap Core ETF (Series ID: S000063764)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000206642 | Timothy Plan US Small Cap Core ETF | TPSC            |

### Timothy Plan International ETF (Series ID: S000063765)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000206643 | Timothy Plan International ETF | TPIF            |

### Timothy Plan High Dividend Stock ETF (Series ID: S000063766)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000206644 | Timothy Plan High Dividend Stock ETF | TPHD            |

### Timothy Plan US Large/Mid Cap Core Enhanced ETF (Series ID: S000072550)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000228883 | Timothy Plan US Large/Mid Cap Core Enhanced ETF | TPLE            |

### Timothy Plan High Dividend Stock Enhanced ETF (Series ID: S000072551)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000228884 | Timothy Plan High Dividend Stock Enhanced ETF | TPHE            |

### TIMOTHY PLAN MARKET NEUTRAL ETF (Series ID: S000079419)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000240441 | TIMOTHY PLAN MARKET NEUTRAL ETF | TPMN            |

?xml version='1.0' encoding='ASCII'?

### 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:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 811-08228

Timothy Plan

(Exact name of registrant as specified in charter)

1055 Maitland Center Commons, Maitland, FL &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32751

(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip code)

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

(Name and address of agent for service)

Registrant's telephone number, including area code: <u>(800) 846-7526</u> 

Date of fiscal year end: <u>December 31</u>

Date of reporting period: <u>June 30, 2025</u>

**Item 1. Reports to Stockholders.**

(a) Timothy Plan US Large/Mid Cap Core ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPLC&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan US Large/Mid Cap Core ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan US Large/Mid Cap Core ETF | $26 | 0.52% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $305431202 |
| Number of Portfolio Holdings | 281 |
| Portfolio Turnover Rate | 18% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i5bcd55991928030e42e3ef11.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Consumer Staples | 4.7% |
| Materials | 6.9% |
| Energy | 7.0% |
| Consumer Discretionary | 7.1% |
| Utilities | 8.9% |
| Health Care | 10.9% |
| Financials | 14.0% |
| Information Technology | 15.7% |
| Industrials | 23.9% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Linde PLC | 0.7% |
| Evergy, Inc. | 0.6% |
| Intercontinental Exchange, Inc. | 0.6% |
| Atmos Energy Corp. | 0.6% |
| Seagate Technology Holdings PLC | 0.6% |
| CME Group, Inc. | 0.6% |
| NiSource, Inc. | 0.6% |
| DTE Energy Co. | 0.6% |
| Nasdaq, Inc. | 0.5% |
| CMS Energy Corp. | 0.5% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPLC — SAR (6/25)

Timothy Plan High Dividend Stock ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPHD&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan High Dividend Stock ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan High Dividend Stock ETF | $26 | 0.52% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $300827093 |
| Number of Portfolio Holdings | 101 |
| Portfolio Turnover Rate | 24% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i9a6c8d4b1b8489666ffe8965.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Health Care | 1.2% |
| Consumer Discretionary | 5.0% |
| Consumer Staples | 6.7% |
| Information Technology | 9.0% |
| Materials | 11.3% |
| Financials | 13.8% |
| Energy | 14.1% |
| Industrials | 17.1% |
| Utilities | 21.4% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Evergy, Inc. | 1.6% |
| Atmos Energy Corp. | 1.5% |
| Seagate Technology Holdings PLC | 1.5% |
| CME Group, Inc. | 1.4% |
| NiSource, Inc. | 1.4% |
| DTE Energy Co. | 1.4% |
| CMS Energy Corp. | 1.4% |
| Illinois Tool Works, Inc. | 1.3% |
| WEC Energy Group, Inc. | 1.3% |
| Alliant Energy Corp. | 1.3% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPHD — SAR (6/25)

Timothy Plan US Small Cap Core ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPSC&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan US Small Cap Core ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan US Small Cap Core ETF | $26 | 0.52% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $207270319 |
| Number of Portfolio Holdings | 448 |
| Portfolio Turnover Rate | 23% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i8add653679478e703b23c0c3.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Real Estate | 0.8% |
| Communication Services | 2.0% |
| Energy | 4.7% |
| Consumer Staples | 5.1% |
| Materials | 5.5% |
| Health Care | 6.0% |
| Utilities | 6.4% |
| Information Technology | 10.1% |
| Consumer Discretionary | 12.3% |
| Industrials | 21.1% |
| Financials<sup>Footnote Reference\*\*</sup> | 25.7% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Madison Square Garden Sports Corp. | 0.4% |
| Federated Hermes, Inc. | 0.4% |
| IDACORP, Inc. | 0.4% |
| Sensient Technologies Corp. | 0.4% |
| Portland General Electric Co. | 0.4% |
| TXNM Energy, Inc. | 0.4% |
| TTM Technologies, Inc. | 0.4% |
| Black Hills Corp. | 0.4% |
| NMI Holdings, Inc. | 0.4% |
| Silgan Holdings, Inc. | 0.4% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
| \*\* | In the Schedule of Portfolio Investments, if a sector comprises more than 25% of the net assets of the Fund, the securities in that sector are displayed at the industry classification level. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPSC — SAR (6/25)

Timothy Plan International ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPIF&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan International ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan International ETF | $34 | 0.62% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $148174594 |
| Number of Portfolio Holdings | 355 |
| Portfolio Turnover Rate | 16% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i0bffed631fb85a4b0b24ad38.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
|  | 0.4% |
| Real Estate | 2.2% |
| Communication Services | 2.8% |
| Consumer Staples | 4.2% |
| Energy | 6.4% |
| Consumer Discretionary | 6.5% |
| Health Care | 6.6% |
| Information Technology | 6.8% |
| Utilities | 8.3% |
| Materials | 8.5% |
| Industrials | 20.8% |
| Financials<sup>Footnote Reference\*\*</sup> | 25.5% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Swisscom AG, Registered Shares | 0.5% |
| Swiss Life Holding AG, Registered | 0.5% |
| The Bank of Nova Scotia | 0.5% |
| Engie SA | 0.5% |
| CLP Holdings Ltd. | 0.5% |
| National Bank of Canada | 0.5% |
| Hydro One Ltd. | 0.5% |
| Terna - Rete Elettrica Nazionale | 0.5% |
| Fortis, Inc. | 0.5% |
| NN Group NV | 0.5% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
| \*\* | In the Schedule of Portfolio Investments, if a sector comprises more than 25% of the net assets of the Fund, the securities in that sector are displayed at the industry classification level. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPIF — SAR (6/25)

Timothy Plan High Dividend Stock Enhanced ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPHE&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan High Dividend Stock Enhanced ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan High Dividend Stock Enhanced ETF | $26 | 0.52% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $25161010 |
| Number of Portfolio Holdings | 101 |
| Portfolio Turnover Rate | 64% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i13df80bc1a08c1fef112ae31.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Health Care | 1.2% |
| Consumer Discretionary | 5.1% |
| Consumer Staples | 6.7% |
| Information Technology | 8.9% |
| Materials | 11.2% |
| Financials | 13.7% |
| Energy | 14.1% |
| Industrials | 17.1% |
| Utilities | 21.4% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Evergy, Inc. | 1.6% |
| Atmos Energy Corp. | 1.5% |
| Seagate Technology Holdings PLC | 1.5% |
| CME Group, Inc. | 1.4% |
| NiSource, Inc. | 1.4% |
| DTE Energy Co. | 1.4% |
| CMS Energy Corp. | 1.4% |
| Illinois Tool Works, Inc. | 1.3% |
| WEC Energy Group, Inc. | 1.3% |
| Alliant Energy Corp. | 1.3% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPHE — SAR (6/25)

Timothy Plan US Large/Mid Cap Core Enhanced ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPLE&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan US Large/Mid Cap Core Enhanced ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan US Large/Mid Cap Core Enhanced ETF | $26 | 0.52% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $17400368 |
| Number of Portfolio Holdings | 281 |
| Portfolio Turnover Rate | 9% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i54d6825bfd79b161950bedba.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Consumer Staples | 4.7% |
| Materials | 6.9% |
| Consumer Discretionary | 7.0% |
| Energy | 7.0% |
| Utilities | 8.9% |
| Health Care | 11.0% |
| Financials | 13.9% |
| Information Technology | 15.7% |
| Industrials | 23.8% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| Linde PLC | 0.7% |
| Evergy, Inc. | 0.6% |
| Intercontinental Exchange, Inc. | 0.6% |
| Atmos Energy Corp. | 0.6% |
| Seagate Technology Holdings PLC | 0.6% |
| CME Group, Inc. | 0.6% |
| NiSource, Inc. | 0.6% |
| DTE Energy Co. | 0.5% |
| Nasdaq, Inc. | 0.5% |
| CMS Energy Corp. | 0.5% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPLE — SAR (6/25)

Timothy Plan Market Neutral ETF

![Image](icbed0b03ed7d4fd8006ef91d.jpg)

Ticker: TPMN&nbsp;&nbsp;&nbsp;&nbsp; Exchange: NYSE

#### Semi-annual shareholder report — June 30, 2025
The semi-annual shareholder report contains important information about Timothy Plan Market Neutral ETF (the "Fund") for the period of January 1, 2025 to June 30, 2025. You can find additional information about the Fund at etf.timothyplan.com. You may also request more information by calling 800.846.7526 or visiting timothyplan.com/contact-us.

# What were the Fund's costs for the last six months?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **FUND NAME** | **COSTS OF A $10,000 INVESTMENT** | **COSTS PAID AS A PERCENTAGE OF A $10,000 INVESTMENT<sup>Footnote Reference\*</sup>** |
| Timothy Plan Market Neutral ETF | $33 | 0.65% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp; Annualized |

---

# FUND STATISTICS

---

| | |
|:---|:---|
| Net Assets | $30695509 |
| Number of Portfolio Holdings | 299 |
| Portfolio Turnover Rate | 19% |

---

#### Top Sectors<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)
![Group By Sector Chart](i59c55dd3c9f37f44db11a75a.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Health Care | 1.1% |
| Communication Services | 3.1% |
| Consumer Staples | 5.9% |
| Consumer Discretionary | 7.7% |
| Materials | 8.2% |
| Industrials | 8.2% |
| Energy | 15.5% |
| Utilities | 19.3% |
| Financials | 21.6% |

---

#### Top 10 Holdings<sup>Footnote Reference \*</sup> (% of Net Assets)<sup>Footnote Reference</sup>

#### (as of June 30, 2025)

---

| | |
|:---|:---|
| ACS Actividades de Construccion y Servicios SA | 0.9% |
| Intesa Sanpaolo SpA | 0.8% |
| Enel SpA | 0.8% |
| Telenor ASA | 0.8% |
| Tele2 AB, Class B Shares | 0.8% |
| TXNM Energy, Inc. | 0.7% |
| Bouygues SA | 0.7% |
| Emera, Inc. | 0.7% |
| Keyera Corp. | 0.7% |
| Power Corp. of Canada | 0.7% |

---

---

| | |
|:---|:---|
| \* | Does not include futures contracts, money market instruments, or other assets in excess of liabilities. |
|  | Utilize the Full Financials link below to refer to the Schedule of Portfolio Investments for a complete list of securities. |

---

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

Full Financials

Prospectus

Fund Holdings

Proxy Voting

Contact us at 800.846.7526 or visit timothyplan.com/contact-us.

![An image of a QR code that, when scanned, navigates the user to the following URL: https://etf.timothyplan.com/](i379bfa5f4f84020feda667c1.jpg)

TPMN — SAR (6/25)

(b) Not applicable.

**Item 2. Code of Ethics.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable <sup>__</sup> only for annual reports.

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

Not applicable <sup>__</sup> only for annual reports.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Not applicable <sup>__</sup> only for annual reports.

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

Not applicable <sup>__</sup> only for annual reports.

**Item 6. Investments.**

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

(b) Not applicable.

**Item 7. Financial Statements and Other Information.**

(a) SEMI-ANNUAL

Full

Financials

June

30,

2025

Listed

and

traded

on:

The

New

York

Stock

Exchange

Ticker

Symbol

#### TIMOTHY

#### PLAN

#### US

#### SMALL

#### CAP

#### CORE

#### ETF

#### TPSC

#### TIMOTHY

#### PLAN

#### US

#### LARGE/MID

#### CAP

#### CORE

#### ETF

#### TPLC

#### TIMOTHY

#### PLAN

#### HIGH

#### DIVIDEND

#### STOCK

#### ETF

#### TPHD

#### TIMOTHY

#### PLAN

#### INTERNATIONAL

#### ETF

#### TPIF

#### TIMOTHY

#### PLAN

#### US

#### LARGE/MID

#### CAP

#### CORE

#### ENHANCED

#### ETF

#### TPLE

#### TIMOTHY

#### PLAN

#### HIGH

#### DIVIDEND

#### STOCK

#### ENHANCED

#### ETF

#### TPHE

#### TIMOTHY

#### PLAN

#### MARKET

#### NEUTRAL

#### ETF

#### TPMN
Table

of

Contents

• #### NOT

#### FDIC

#### INSURED
• NO

#### BANK

#### GUARANTEE
• #### MAY

#### LOSE

#### VALUE
• #### INVESTMENTS

#### INVOLVE

#### RISK
• #### PRINCIPAL

#### LOSS

#### IS

#### POSSIBLE
*Schedule* 

*of* 

*Portfolio* 

*Investments* 

*Statements* 

*of* 

*Assets* 

*and* 

*Liabilities* 

*Statements* 

*of* 

*Operations* 

*Statements* 

*of* 

*Changes* 

*in* 

*Net* 

*Assets* 

*Financial* 

*Highlights* 

Notes

to

Financial

Statements

Approval

of

Investment

Advisory

and

Sub-Advisory

Agreement

#### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.7%)

#### Banks

#### (#### 13

#### .6

#### %

####):
Ameris

Bancorp

8,684

561,855

Associated

Banc-Corp.

20,846

508,434

Atlantic

Union

Bankshares

Corp.

17,714

554,094

Axos

Financial,

Inc.(a)

5,920

450,157

Banc

of

California,

Inc.

31,002

435,578

BancFirst

Corp.

4,116

508,820

Bank

of

Hawaii

Corp.

7,576

511,607

Bank

OZK

10,790

507,777

BankUnited,

Inc.

13,249

471,532

Banner

Corp.

7,465

478,880

Cadence

Bank

15,410

492,812

Cathay

General

Bancorp

12,233

556,969

City

Holding

Co.

4,733

579,414

Columbia

Banking

System,

Inc.

18,987

443,916

Community

Financial

System,

Inc.

8,137

462,751

CVB

Financial

Corp.

24,251

479,927

Enterprise

Financial

Services

Corp.

8,768

483,117

FB

Financial

Corp.

10,084

456,805

First

Bancorp

11,175

492,706

First

Bancorp

Puerto

Rico

24,247

505,065

First

Financial

Bancorp

19,448

471,809

First

Financial

Bankshares,

Inc.

13,959

502,245

First

Hawaiian,

Inc.

23,014

574,429

First

Interstate

BancSystem,

Inc.,

Class

A

17,142

494,032

First

Merchants

Corp.

12,234

468,562

FNB

Corp.

36,511

532,330

Fulton

Financial

Corp.

26,761

482,768

Glacier

Bancorp,

Inc.

11,113

478,748

Hancock

Whitney

Corp.

8,945

513,443

Hilltop

Holdings,

Inc.

17,582

533,614

Home

Bancshares,

Inc.

20,090

571,761

Independent

Bank

Corp.

7,520

472,895

International

Bancshares

Corp.

7,633

508,053

NBT

Bancorp,

Inc.

11,532

479,155

Nicolet

Bankshares,

Inc.

4,217

520,715

OFG

Bancorp

13,064

559,139

Old

National

Bancorp

22,709

484,610

Pacific

Premier

Bancorp,

Inc.

20,358

429,350

Park

National

Corp.

2,598

434,542

Pathward

Financial,

Inc.

6,811

538,886

Provident

Financial

Services,

Inc.

28,276

495,678

Renasant

Corp.

16,149

580,234

Seacoast

Banking

Corp.

of

Florida

19,938

550,688

ServisFirst

Bancshares,

Inc.

5,702

441,962

Simmons

First

National

Corp.,

Class

A

28,442

539,260

Stock

Yards

Bancorp,

Inc.

6,657

525,770

Texas

Capital

Bancshares,

Inc.(a)

6,780

538,332

The

Bancorp,

Inc.(a)

7,201

410,241

Towne

Bank

16,609

567,696

UMB

Financial

Corp.

5,092

535,475

United

Bankshares,

Inc.

15,040

547,907

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Banks

#### (13.6%):
(continued)

United

Community

Banks,

Inc.

18,216

542,655

Valley

National

Bancorp

49,817

444,866

WaFd,

Inc.

18,148

531,373

WesBanco,

Inc.

16,460

520,630

WSFS

Financial

Corp.

8,793

483,615

#### 28,249,684

#### Capital

#### Markets

#### (#### 3

#### .0

#### %

####):
Affiliated

Managers

Group,

Inc.

3,314

652,096

Artisan

Partners

Asset

Management,

Inc.,

Class

A

13,568

601,469

BGC

Group,

Inc.,

Class

A

49,113

502,426

Cohen

&

Steers,

Inc.

6,774

510,421

Federated

Hermes,

Inc.

18,998

841,991

Hamilton

Lane,

Inc.,

Class

A

3,061

435,029

Lazard,

Inc.

9,743

467,469

Moelis

&

Co.,

Class

A

7,186

447,832

Piper

Sandler

Cos.

1,680

466,939

PJT

Partners,

Inc.,

Class

A

3,067

506,086

StoneX

Group,

Inc.(a)

5,908

538,455

Virtu

Financial,

Inc.,

Class

A

10,316

462,054

#### 6,432,267

#### Communication

#### Services

#### (#### 2

#### .0

#### %

####):
Cargurus,

Inc.(a)

12,048

403,247

Integral

Ad

Science

Holding

Corp.(a)

50,938

423,295

Iridium

Communications,

Inc.

13,415

404,730

John

Wiley

&

Sons,

Inc.,

Class

A

10,205

455,449

Madison

Square

Garden

Entertainment

Corp.(a)

15,134

604,906

Madison

Square

Garden

Sports

Corp.(a)

4,064

849,173

Magnite,

Inc.(a)

27,097

653,580

ZoomInfo

Technologies,

Inc.(a)

30,585

309,520

#### 4,103,900

#### Consumer

#### Discretionary

#### (#### 12

#### .3

#### %

####):
Academy

Sports

&

Outdoors,

Inc.

10,285

460,871

Acushnet

Holdings

Corp.

7,285

530,494

Adtalem

Global

Education,

Inc.(a)

3,818

485,764

Asbury

Automotive

Group,

Inc.(a)

1,647

392,875

Atmus

Filtration

Technologies,

Inc.

13,798

502,523

Boot

Barn

Holdings,

Inc.(a)

2,787

423,624

Brinker

International,

Inc.(a)

1,922

346,594

Brunswick

Corp.

9,476

523,454

Cavco

Industries,

Inc.(a)

875

380,126

Century

Communities,

Inc.

6,647

374,359

Champion

Homes,

Inc.(a)

4,457

279,053

Chewy,

Inc.,

Class

A(a)

9,062

386,222

Columbia

Sportswear

Co.

7,992

488,151

Dillard's,

Inc.,

Class

A

1,068

446,242

Dorman

Products,

Inc.(a)

4,249

521,225

Dream

Finders

Homes,

Inc.,

Class

A(a)

12,173

305,908

Dutch

Bros,

Inc.,

Class

A(a)

3,615

247,158

Five

Below,

Inc.(a)

4,086

536,002

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Consumer

#### Discretionary

#### (12.3%):
(continued)

Foot

Locker,

Inc.(a)

25,219

617,866

Frontdoor,

Inc.(a)

8,563

504,703

Garrett

Motion,

Inc.

47,252

496,619

Graham

Holdings

Co.,

Class

B

471,193

Grand

Canyon

Education,

Inc.(a)

2,960

559,440

Green

Brick

Partners,

Inc.(a)

6,925

435,444

Group

Automotive,

Inc.

1,037

452,868

Harley-Davidson,

Inc.

18,494

436,458

Hilton

Grand

Vacations,

Inc.(a)

11,371

472,238

Kontoor

Brands,

Inc.

6,537

431,246

Laureate

Education,

Inc.(a)

24,217

566,193

La-Z-Boy,

Inc.,

Class

Z

12,443

462,506

LCI

Industries

5,079

463,154

LGI

Homes,

Inc.(a)

5,954

306,750

Life

Time

Group

Holdings,

Inc.(a)

12,561

380,975

M/I

Homes,

Inc.(a)

3,649

409,126

Mister

Car

Wash,

Inc.(a)

52,958

318,278

Modine

Manufacturing

Co.(a)

2,446

240,931

Ollie's

Bargain

Outlet

Holdings,

Inc.(a)

2,977

392,309

OneSpaWorld

Holdings

Ltd.

24,858

506,855

Patrick

Industries,

Inc.

5,257

485,063

Perdoceo

Education

Corp.

16,773

548,309

Phinia,

Inc.

9,986

444,277

Polaris,

Inc.

9,603

390,362

RH(a)

1,399

264,425

Sonic

Automotive,

Inc.,

Class

A

6,488

518,586

Steven

Madden

Ltd.

20,690

496,146

Strategic

Education,

Inc.

5,061

430,843

Stride,

Inc.(a)

1,895

275,135

The

Buckle,

Inc.

12,980

588,643

The

Cheesecake

Factory,

Inc.

8,234

515,942

The

Goodyear

Tire

&

Rubber

Co.(a)

26,965

279,627

The

Wendy's

Co.

39,704

453,420

Thor

Industries,

Inc.

5,320

472,469

Tri

Pointe

Homes,

Inc.(a)

14,946

477,525

United

Parks

&

Resorts,

Inc.(a)

9,626

453,866

Valvoline,

Inc.(a)

14,025

531,127

Visteon

Corp.(a)

6,416

598,613

Worthington

Enterprises,

Inc.

6,680

425,115

YETI

Holdings,

Inc.(a)

12,263

386,530

#### 25,591,820

#### Consumer

#### Finance

#### (#### 0

#### .9

#### %

####):
FirstCash

Holdings,

Inc.

5,038

680,835

OneMain

Holdings,

Inc.

9,064

516,648

SLM

Corp.

16,679

546,904

#### 1,744,387

#### Consumer

#### Staples

#### (#### 5

#### .1

#### %

####):
Cal-Maine

Foods,

Inc.

3,770

375,605

Central

Garden

&

Pet

Co.,

Class

A(a)

14,578

456,146

Darling

Ingredients,

Inc.(a)

11,382

431,833

Energizer

Holdings,

Inc.

21,423

431,888

Flowers

Foods,

Inc.

37,673

602,014

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Consumer

#### Staples

#### (5.1%):
(continued)

Freshpet,

Inc.(a)

3,919

266,335

Interparfums,

Inc.

4,100

538,371

J

&

J

Snack

Foods

Corp.

4,177

473,714

National

Beverage

Corp.

13,604

588,237

PriceSmart,

Inc.

5,566

584,653

Reynolds

Consumer

Products,

Inc.

25,597

548,288

Seaboard

Corp.

566,518

Spectrum

Brands

Holdings,

Inc.

8,654

458,662

The

Chefs'

Warehouse,

Inc.(a)

8,192

522,731

The

Marzetti

Co.

2,595

448,338

The

Simply

Good

Foods

Co.(a)

14,033

443,302

The

Vita

Coco

Co.,

Inc.(a)

11,197

404,212

Tootsie

Roll

Industries,

Inc.

19,589

655,252

Utz

Brands,

Inc.

33,702

422,960

Co.

2,653

605,123

Weis

Markets,

Inc.

6,301

456,759

WK

Kellogg

Co.

14,959

238,446

#### 10,519,387

#### Energy

#### (#### 4

#### .7

#### %

####):
Archrock,

Inc.

15,178

376,870

Atlas

Energy

Solutions,

Inc.

25,035

334,718

Cactus,

Inc.,

Class

A

10,528

460,284

California

Resources

Corp.

11,334

517,624

Core

Natural

Resources,

Inc.

4,570

318,712

CVR

Energy,

Inc.

15,110

405,703

Excelerate

Energy,

Inc.,

Class

A

12,969

380,251

Helmerich

&

Payne,

Inc.

16,698

253,142

International

Seaways,

Inc.

11,364

414,559

Kinetik

Holdings,

Inc.

9,926

437,240

Kodiak

Gas

Services,

Inc.

9,273

317,786

Liberty

Energy,

Inc.

29,247

335,755

Magnolia

Oil

&

Gas

Corp.,

Class

A

22,544

506,789

Murphy

Oil

Corp.

20,626

464,085

Northern

Oil

&

Gas,

Inc.

16,623

471,262

Oceaneering

International,

Inc.(a)

18,643

386,283

Peabody

Energy

Corp.

25,164

337,701

Sitio

Royalties

Corp.,

Class

A

31,418

577,463

SM

Energy

Co.

15,483

382,585

Solaris

Energy

Infrastructure,

Inc.,

Class

A

9,340

264,228

Tidewater,

Inc.(a)

8,275

381,726

Valaris

Ltd.(a)

10,554

444,429

Viper

Energy,

Inc.

11,322

431,708

World

Kinect

Corp.

18,791

532,725

#### 9,733,628

#### Financial

#### Services

#### (#### 3

#### .7

#### %

####):
Euronet

Worldwide,

Inc.(a)

5,325

539,849

EVERTEC,

Inc.

14,196

511,766

Federal

Agricultural

Mortgage

Corp.,

Class

C

2,915

566,326

Marqeta,

Inc.,

Class

A(a)

52,958

308,745

Merchants

Bancorp

10,160

335,991

Mr.

Cooper

Group,

Inc.(a)

3,940

587,887

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Financial

#### Services

#### (3.7%):
(continued)

NCR

Atleos

Corp.(a)

15,588

444,726

NMI

Holdings,

Inc.(a)

17,486

737,734

Payoneer

Global,

Inc.(a)

42,968

294,331

PennyMac

Financial

Services,

Inc.

5,463

544,333

Radian

Group,

Inc.

17,059

614,465

Rocket

Cos.,

Inc.,

Class

A

21,933

311,010

Shift4

Payments,

Inc.(a)

3,843

380,880

The

Western

Union

Co.

57,933

487,796

Walker

&

Dunlop,

Inc.

6,601

465,239

#### 7,131,078

#### Health

#### Care

#### (#### 6

#### .0

#### %

####):
Acadia

Healthcare

Co.,

Inc.(a)

9,500

215,555

ACADIA

Pharmaceuticals,

Inc.(a)

21,486

463,453

Addus

HomeCare

Corp.(a)

4,822

555,446

ADMA

Biologics,

Inc.(a)

10,473

190,713

Agios

Pharmaceuticals,

Inc.(a)

9,997

332,500

Alkermes

PLC(a)

15,961

456,644

Catalyst

Pharmaceuticals,

Inc.(a)

15,443

335,113

Concentra

Group

Holdings

Parent,

Inc.

22,044

453,445

CONMED

Corp.

7,316

381,017

Corcept

Therapeutics,

Inc.(a)

1,526

112,008

CorVel

Corp.(a)

3,519

361,683

Doximity,

Inc.,

Class

A(a)

3,187

195,491

Dynavax

Technologies

Corp.(a)

38,497

381,890

Haemonetics

Corp.(a)

6,425

479,369

Harmony

Biosciences

Holdings,

Inc.(a)

9,820

310,312

Inspire

Medical

Systems,

Inc.(a)

1,651

214,250

Integer

Holdings

Corp.(a)

4,561

560,866

Krystal

Biotech,

Inc.(a)

2,076

285,367

LeMaitre

Vascular,

Inc.

5,304

440,497

MannKind

Corp.(a)

84,292

315,252

Merit

Medical

Systems,

Inc.(a)

7,048

658,847

Omnicell,

Inc.(a)

6,769

199,009

Option

Care

Health,

Inc.(a)

10,375

336,980

Prestige

Consumer

Healthcare,

Inc.(a)

6,543

522,459

Privia

Health

Group,

Inc.(a)

15,315

352,245

Progyny,

Inc.(a)

9,889

217,558

Protagonist

Therapeutics,

Inc.(a)

4,883

269,884

RadNet,

Inc.(a)

5,659

322,054

Select

Medical

Holdings

Corp.

23,445

355,895

Sotera

Health

Co.(a)

37,895

421,393

Supernus

Pharmaceuticals,

Inc.(a)

11,957

376,885

TG

Therapeutics,

Inc.(a)

5,886

211,837

TransMedics

Group,

Inc.(a)

2,466

330,469

UFP

Technologies,

Inc.(a)

1,274

311,060

Veracyte,

Inc.(a)

7,477

202,103

Vericel

Corp.(a)

8,375

356,356

#### 12,485,905

#### Industrials

#### (#### 21

#### .1

#### %

####):
AAR

Corp.(a)

6,664

458,417

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Industrials

#### (21.1%):
(continued)

ABM

Industries,

Inc.

10,708

505,525

AeroVironment,

Inc.(a)

1,966

560,212

Air

Lease

Corp.

10,363

606,132

Alamo

Group,

Inc.

2,912

635,923

Albany

International

Corp.

6,436

451,357

ArcBest

Corp.

5,144

396,139

Arcosa,

Inc.

5,202

451,065

Argan,

Inc.

1,355

298,750

Aris

Water

Solutions,

Inc.,

Class

A

8,741

206,725

Armstrong

World

Industries,

Inc.

4,277

694,756

ASGN,

Inc.(a)

6,768

337,926

Atkore,

Inc.

4,838

341,321

AZZ,

Inc.

4,986

471,077

Boise

Cascade

Co.

3,927

340,942

Brady

Corp.,

Class

A

8,961

609,079

Casella

Waste

Systems,

Inc.(a)

5,215

601,707

CBIZ,

Inc.(a)

5,090

365,004

Concentrix

Corp.

4,185

221,198

Construction

Partners,

Inc.,

Class

A(a)

3,459

367,622

CoreCivic,

Inc.(a)

11,174

235,436

CSG

Systems

International,

Inc.

8,916

582,304

CSW

Industrials,

Inc.

1,334

382,631

DNOW,

Inc.(a)

21,476

318,489

Dycom

Industries,

Inc.(a)

2,149

525,194

Enerpac

Tool

Group

Corp.

12,296

498,726

EnerSys

6,722

576,546

Enpro,

Inc.

2,660

509,523

Esab

Corp.

3,697

445,673

ESCO

Technologies,

Inc.

2,637

505,961

Everus

Construction

Group,

Inc.(a)

5,127

325,718

ExlService

Holdings,

Inc.(a)

12,961

567,562

Exponent,

Inc.

7,142

533,579

Federal

Signal

Corp.

5,516

587,013

Franklin

Electric

Co.,

Inc.

6,004

538,799

Frontier

Group

Holdings,

Inc.(a)

54,343

197,265

GATX

Corp.

3,774

579,535

Genpact

Ltd.

9,581

421,660

Gibraltar

Industries,

Inc.(a)

7,256

428,104

GMS,

Inc.(a)

6,296

684,690

Granite

Construction,

Inc.

7,179

671,308

Griffon

Corp.

4,348

314,665

Hayward

Holdings,

Inc.(a)

36,455

503,079

Herc

Holdings,

Inc.

2,412

317,636

Hexcel

Corp.

9,852

556,539

Hillman

Solutions

Corp.(a)

57,456

410,236

HNI

Corp.

11,985

589,422

Huron

Consulting

Group,

Inc.(a)

2,847

391,576

IES

Holdings,

Inc.(a)

1,077

319,040

Innodata,

Inc.(a)

2,808

143,826

Insperity,

Inc.

4,163

250,280

JBT

Marel

Corp.

3,687

443,399

Kadant,

Inc.

1,283

407,288

Kennametal,

Inc.

23,086

530,055

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Industrials

#### (21.1%):
(continued)

Korn

Ferry

7,800

571,974

Kratos

Defense

&

Security

Solutions,

Inc.(a)

9,528

442,576

Legalzoom.com,

Inc.(a)

46,443

413,807

Loar

Holdings,

Inc.(a)

2,980

256,787

ManpowerGroup,

Inc.

9,564

386,386

Masterbrand,

Inc.(a)

29,349

320,785

Matson,

Inc.

4,187

466,222

Maximus,

Inc.

8,032

563,846

MDU

Resources

Group,

Inc.

30,644

510,835

Moog,

Inc.,

Class

A

2,399

434,147

MSC

Industrial

Direct

Co.,

Inc.

6,240

530,525

Mueller

Water

Products,

Inc.,

Class

A

16,362

393,342

MYR

Group,

Inc.(a)

2,304

418,061

OPENLANE,

Inc.(a)

24,973

610,590

Pitney

Bowes,

Inc.

38,494

419,970

Powell

Industries,

Inc.

959

201,822

Primoris

Services

Corp.

4,890

381,127

Resideo

Technologies,

Inc.(a)

24,858

548,367

Rush

Enterprises,

Inc.,

Class

A

7,849

404,302

Ryder

System,

Inc.

3,628

576,852

Schneider

National,

Inc.,

Class

B

24,759

597,930

Science

Applications

International

Corp.

3,560

400,892

SkyWest,

Inc.(a)

4,245

437,108

Standex

International

Corp.

3,324

520,139

Sterling

Infrastructure,

Inc.(a)

1,628

375,628

Tecnoglass,

Inc.

4,791

370,632

Tennant

Co.

7,281

564,132

Terex

Corp.

9,392

438,512

The

Brink's

Co.

5,799

517,793

The

Greenbrier

Cos.,

Inc.

9,944

457,921

The

Timken

Co.

7,278

528,019

TriNet

Group,

Inc.

4,341

317,501

Trinity

Industries,

Inc.

16,537

446,664

UL

Solutions,

Inc.,

Class

A

9,702

706,888

UniFirst

Corp.

2,026

381,334

Upwork,

Inc.(a)

19,244

258,639

Valmont

Industries,

Inc.

1,267

413,764

Verra

Mobility

Corp.(a)

19,471

494,369

Vicor

Corp.(a)

4,280

194,141

VSE

Corp.

2,638

345,525

Watts

Water

Technologies,

Inc.,

Class

A

2,927

719,720

Werner

Enterprises,

Inc.

18,199

497,925

Zurn

Elkay

Water

Solutions

Corp.

19,032

696,000

#### 43,747,133

#### Information

#### Technology

#### (#### 10

#### .1

#### %

####):
ACI

Worldwide,

Inc.(a)

8,499

390,189

ACM

Research,

Inc.,

Class

A(a)

9,491

245,817

Adeia,

Inc.

23,635

334,199

Advanced

Energy

Industries,

Inc.

3,835

508,138

Agilysys,

Inc.(a)

4,241

486,188

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Information

#### Technology

#### (10.1%):
(continued)

Alarm.com

Holdings,

Inc.(a)

9,198

520,331

Appfolio,

Inc.,

Class

A(a)

1,718

395,621

Avnet,

Inc.

11,815

627,140

Axcelis

Technologies,

Inc.(a)

5,931

413,331

Badger

Meter,

Inc.

2,719

666,019

Belden,

Inc.

4,585

530,943

BILL

Holdings,

Inc.(a)

5,195

240,321

BlackLine,

Inc.(a)

8,396

475,382

CCC

Intelligent

Solutions

Holdings,

Inc.(a)

71,688

674,584

Cleanspark,

Inc.(a)

19,118

210,872

Clear

Secure,

Inc.,

Class

A

9,168

254,504

Clearwater

Analytics

Holdings,

Inc.,

Class

A(a)

14,209

311,603

Crane

NXT

Co.

10,596

571,124

Credo

Technology

Group

Holding

Ltd.(a)

3,484

322,584

DigitalOcean

Holdings,

Inc.(a)

9,888

282,401

Diodes,

Inc.(a)

8,477

448,349

Dolby

Laboratories,

Inc.,

Class

A

6,666

495,017

DoubleVerify

Holdings,

Inc.(a)

20,932

313,352

Dropbox,

Inc.,

Class

A(a)

16,080

459,888

ePlus,

Inc.(a)

5,922

426,976

FormFactor,

Inc.(a)

9,537

328,168

Impinj,

Inc.(a)

3,834

425,842

Informatica,

Inc.,

Class

A(a)

20,387

496,423

InterDigital,

Inc.

1,962

439,939

Itron,

Inc.(a)

4,276

562,850

LiveRamp

Holdings,

Inc.(a)

14,244

470,622

MARA

Holdings,

Inc.(a)

11,392

178,627

N-able,

Inc.(a)

49,819

403,534

OSI

Systems,

Inc.(a)

1,992

447,921

PC

Connection,

Inc.

7,464

490,982

Pegasystems,

Inc.

8,772

474,828

Plexus

Corp.(a)

3,408

461,137

Power

Integrations,

Inc.

7,704

430,654

Progress

Software

Corp.

8,669

553,429

Qualys,

Inc.(a)

2,770

395,750

Rambus,

Inc.(a)

5,053

323,493

Rapid7,

Inc.(a)

15,942

368,738

Riot

Platforms,

Inc.(a)

21,461

242,509

SEMrush

Holdings,

Inc.,

Class

A(a)

31,323

283,473

Sprinklr,

Inc.,

Class

A(a)

46,970

397,366

Synaptics,

Inc.(a)

5,881

381,206

Teradata

Corp.(a)

15,864

353,926

TTM

Technologies,

Inc.(a)

18,258

745,292

Vontier

Corp.

15,922

587,522

#### 20,849,104

#### Insurance

#### (#### 4

#### .3

#### %

####):
Assured

Guaranty

Ltd.

7,150

622,765

Axis

Capital

Holdings

Ltd.

6,896

715,943

Brighthouse

Financial,

Inc.(a)

7,608

409,082

CNO

Financial

Group,

Inc.

13,159

507,674

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025

.

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Insurance

#### (4.3%):
(continued)

First

American

Financial

Corp.

11,521

707,274

Genworth

Financial,

Inc.(a)

81,733

635,883

Goosehead

Insurance,

Inc.,

Class

A

2,433

256,706

Horace

Mann

Educators

Corp.

14,064

604,330

Kemper

Corp.

10,012

646,174

Mercury

General

Corp.

6,414

431,919

Palomar

Holdings,

Inc.(a)

2,552

393,646

Selective

Insurance

Group,

Inc.

4,666

404,309

SiriusPoint

Ltd.(a)

25,919

528,488

Skyward

Specialty

Insurance

Group,

Inc.(a)

7,584

438,279

Stewart

Information

Services

Corp.

7,947

517,350

The

Hanover

Insurance

Group,

Inc.

4,114

698,845

White

Mountains

Insurance

Group

Ltd.

678,782

#### 9,197,449

#### Materials

#### (#### 5

#### .5

#### %

####):
Alpha

Metallurgical

Resources,

Inc.(a)

2,504

281,650

Avient

Corp.

14,101

455,603

Balchem

Corp.

3,725

593,020

Cabot

Corp.

5,168

387,600

Century

Aluminum

Co.(a)

13,101

236,080

Coeur

Mining,

Inc.(a)

36,578

324,081

Greif,

Inc.,

Class

A

9,760

634,302

H.B.

Fuller

Co.

9,852

592,598

Hawkins,

Inc.

2,852

405,269

Hecla

Mining

Co.

47,423

284,064

Innospec,

Inc.

5,116

430,205

Knife

River

Corp.(a)

3,761

307,048

Materion

Corp.

4,427

351,371

Minerals

Technologies,

Inc.

9,126

502,569

NewMarket

Corp.

1,005

694,314

Olin

Corp.

18,268

367,004

Quaker

Chemical

Corp.

4,056

454,029

Sealed

Air

Corp.

20,033

621,624

Sensient

Technologies

Corp.

7,795

767,963

Silgan

Holdings,

Inc.

13,549

734,085

Sonoco

Products

Co.

15,959

695,174

Sylvamo

Corp.

6,161

308,666

The

Chemours

Co.

25,034

286,639

United

States

Lime

&

Minerals,

Inc.

3,387

338,023

Warrior

Met

Coal,

Inc.

6,999

320,764

#### 11,373,745

#### Mortgage

#### Real

#### Estate

#### Investment

#### Trusts
(REITs)

#### (#### 0

#### .2

#### %

####):
HA

Sustainable

Infrastructure

Capital,

Inc.

17,007

456,808

#### 456,808

#### Real

#### Estate

#### (#### 0

#### .8

#### %

####):
Howard

Hughes

Holdings,

Inc.(a)

6,928

467,640

Newmark

Group,

Inc.,

Class

A

38,998

473,826

The

St.

Joe

Co.

13,448

641,469

#### 1,582,935

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Utilities

#### (#### 6

#### .4

#### %

####):
American

States

Water

Co.

8,634

661,882

Avista

Corp.

17,286

656,004

Black

Hills

Corp.

13,225

741,922

California

Water

Service

Group

12,764

580,507

Chesapeake

Utilities

Corp.

5,416

651,112

Clearway

Energy,

Inc.,

Class

C

17,402

556,864

IDACORP,

Inc.

6,890

795,451

MGE

Energy,

Inc.

6,616

585,119

New

Jersey

Resources

Corp.

15,988

716,582

Northwest

Natural

Holding

Co.

16,966

673,890

Northwestern

Energy

Group,

Inc.

12,483

640,378

ONE

Gas,

Inc.

9,397

675,268

Ormat

Technologies,

Inc.

7,774

651,150

Otter

Tail

Corp.

6,398

493,222

Portland

General

Electric

Co.

18,881

767,135

SJW

Group

10,358

538,305

Southwest

Gas

Holdings,

Inc.

8,897

661,848

Spire,

Inc.

8,954

653,552

Talen

Energy

Corp.(a)

1,102

320,429

TXNM

Energy,

Inc.

13,237

745,508

UGI

Corp.

16,153

588,292

#### 13,354,420

#### Total

#### Common

#### Stocks

#### (Cost

#### $187,905,780)

#### 206,553,650

#### Total

#### Investments

#### (Cost

#### $187,905,780)

#### —

#### 99.7%

#### 206,553,650

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 0.3%

#### 716,669

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 207,270,319
(a) Non-income

producing

security.

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Futures

#### Contracts

#### Long

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

E-Mini

Russell

2000

Index

9/19/25

$

640,115

$

657,510

$

17,395

$

17,395

#### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.7%)

#### Communication

#### Services

#### (#### 0

#### .3

#### %

####):
Ralliant

Corp.(a)

6,349

307,847

The

Trade

Desk,

Inc.,

Class

A(a)

9,550

687,504

#### 995,351

#### Consumer

#### Discretionary

#### (#### 7

#### .1

#### %

####):
Aptiv

PLC(a)

16,378

1,117,307

CarMax,

Inc.(a)

13,332

896,044

Carvana

Co.(a)

2,004

675,268

Chewy,

Inc.,

Class

A(a)

17,671

753,138

Chipotle

Mexican

Grill,

Inc.(a)

17,811

1,000,088

Coupang,

Inc.(a)

36,841

1,103,756

D.R.

Horton,

Inc.

7,089

913,914

Deckers

Outdoor

Corp.(a)

5,697

587,190

Domino's

Pizza,

Inc.

1,836

827,302

Dutch

Bros,

Inc.,

Class

A(a)

7,032

480,778

Garmin

Ltd.

3,813

795,849

Genuine

Parts

Co.

7,129

864,819

Lennar

Corp.,

Class

A

8,564

947,264

NVR,

Inc.(a)

1,226,019

O'Reilly

Automotive,

Inc.(a)

16,065

1,447,938

Pool

Corp.

2,981

868,902

PulteGroup,

Inc.

9,326

983,520

Ross

Stores,

Inc.

8,529

1,088,130

Service

Corp.

International

14,382

1,170,695

Somnigroup

International,

Inc.

14,818

1,008,365

Tesla,

Inc.(a)

1,556

494,279

Texas

Roadhouse,

Inc.

6,661

1,248,338

Tractor

Supply

Co.

19,476

1,027,748

#### 21,526,651

#### Consumer

#### Staples

#### (#### 4

#### .7

#### %

####):
BJ's

Wholesale

Club

Holdings,

Inc.(a)

7,795

840,535

Casey's

General

Stores,

Inc.

2,244

1,145,046

Coca-Cola

Consolidated,

Inc.

6,474

722,822

Costco

Wholesale

Corp.

1,376

1,362,158

Dollar

General

Corp.

6,360

727,457

Hormel

Foods

Corp.

41,437

1,253,469

Kenvue,

Inc.

46,240

967,803

Kimberly-Clark

Corp.

10,812

1,393,883

McCormick

&

Co.,

Inc.

18,845

1,428,828

Sprouts

Farmers

Market,

Inc.(a)

4,420

727,709

Sysco

Corp.

19,114

1,447,694

The

Campbell's

Co.

29,443

902,428

U.S.

Foods

Holding

Corp.(a)

20,011

1,541,047

#### 14,460,879

#### Energy

#### (#### 7

#### .0

#### %

####):
Antero

Resources

Corp.(a)

20,233

814,985

Baker

Hughes

Co.

24,183

927,176

Cheniere

Energy,

Inc.

4,705

1,145,762

ConocoPhillips

Co.

12,268

1,100,930

Coterra

Energy,

Inc.

42,138

1,069,463

Devon

Energy

Corp.

32,270

1,026,509

Diamondback

Energy,

Inc.

6,993

960,838

EOG

Resources,

Inc.

10,558

1,262,842

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Energy

#### (7.0%):
(continued)

EQT

Corp.

15,301

892,354

Halliburton

Co.

43,021

876,768

Kinder

Morgan,

Inc.

42,806

1,258,497

Occidental

Petroleum

Corp.

29,052

1,220,475

ONEOK,

Inc.

12,890

1,052,211

Ovintiv,

Inc.

23,665

900,453

Permian

Resources

Corp.

74,615

1,016,256

Phillips

Co.

10,068

1,201,112

Schlumberger

NV

28,497

963,199

Targa

Resources

Corp.

5,708

993,649

Texas

Pacific

Land

Corp.

485,939

The

Williams

Cos.,

Inc.

19,272

1,210,474

Valero

Energy

Corp.

7,820

1,051,164

#### 21,431,056

#### Financials

#### (#### 14

#### .0

#### %

####):
Aflac,

Inc.

12,788

1,348,623

Arch

Capital

Group

Ltd.

11,994

1,092,054

Ares

Management

Corp.,

Class

A

6,131

1,061,889

Arthur

J. Gallagher

&

Co.

4,285

1,371,714

Blue

Owl

Capital,

Inc.

41,981

806,455

Brown

&

Brown,

Inc.

12,808

1,420,023

Cboe

Global

Markets,

Inc.

5,762

1,343,756

Cincinnati

Financial

Corp.

9,165

1,364,852

CME

Group,

Inc.

6,331

1,744,950

Coinbase

Global,

Inc.,

Class

A(a)

1,808

633,686

Corebridge

Financial,

Inc.

31,044

1,102,062

East

West

Bancorp,

Inc.

12,382

1,250,334

Equitable

Holdings,

Inc.

18,548

1,040,543

Everest

Group

Ltd.

3,186

1,082,762

Fidelity

National

Information

Services,

Inc.

16,113

1,311,759

First

Citizens

BancShares,

Inc.,

Class

A

843,239

Global

Payments,

Inc.

10,941

875,718

Houlihan

Lokey,

Inc.

6,727

1,210,524

Interactive

Brokers

Group,

Inc.

16,524

915,595

Intercontinental

Exchange,

Inc.

10,669

1,957,441

Jack

Henry

&

Associates,

Inc.

8,146

1,467,665

Jefferies

Financial

Group,

Inc.

18,097

989,725

LPL

Financial

Holdings,

Inc.

2,335

875,555

Markel

Group,

Inc.(a)

677

1,352,213

Morningstar,

Inc.

4,767

1,496,504

MSCI,

Inc.

2,251

1,298,242

Nasdaq,

Inc.

18,704

1,672,512

Principal

Financial

Group,

Inc.

16,330

1,297,092

Reinsurance

Group

of

America,

Inc.

5,473

1,085,624

RenaissanceRe

Holdings

Ltd.

4,283

1,040,341

Rocket

Cos.,

Inc.,

Class

A

42,811

607,060

Ryan

Specialty

Holdings,

Inc.

14,161

962,806

SoFi

Technologies,

Inc.(a)

44,106

803,170

The

Progressive

Corp.

4,449

1,187,260

Tradeweb

Markets,

Inc.,

Class

A

10,046

1,470,734

W.R.

Berkley

Corp.

16,888

1,240,761

#### 42,625,243

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Health

#### Care

#### (#### 10

#### .9

#### %

####):
Agilent

Technologies,

Inc.

10,838

1,278,992

Align

Technology,

Inc.(a)

4,422

837,217

Avantor,

Inc.(a)

49,540

666,808

BioMarin

Pharmaceutical,

Inc.(a)

14,664

806,080

Centene

Corp.(a)

12,754

692,287

Danaher

Corp.

6,065

1,198,080

DaVita,

Inc.(a)

5,500

783,475

Dexcom,

Inc.(a)

6,898

602,126

Doximity,

Inc.,

Class

A(a)

6,197

380,124

Edwards

Lifesciences

Corp.(a)

8,845

691,768

GE

HealthCare

Technologies,

Inc.

18,775

1,390,664

Globus

Medical,

Inc.(a)

14,249

840,976

HCA

Healthcare,

Inc.

2,996

1,147,768

Humana,

Inc.

2,195

536,634

IDEXX

Laboratories,

Inc.(a)

2,422

1,299,016

Incyte

Corp.(a)

14,129

962,185

Insulet

Corp.(a)

3,304

1,038,051

Intuitive

Surgical,

Inc.(a)

1,822

990,093

IQVIA

Holdings,

Inc.(a)

6,468

1,019,292

Mettler-Toledo

International,

Inc.(a)

970

1,139,478

Neurocrine

Biosciences,

Inc.(a)

7,468

938,653

Quest

Diagnostics,

Inc.

7,882

1,415,844

ResMed,

Inc.

4,233

1,092,114

Revvity,

Inc.

9,775

945,438

Solventum

Corp.(a)

14,161

1,073,970

STERIS

PLC

6,483

1,557,346

Stryker

Corp.

3,954

1,564,321

Tenet

Healthcare

Corp.(a)

5,514

970,464

United

Therapeutics

Corp.(a)

3,036

872,395

Universal

Health

Services,

Inc.,

Class

B

4,880

884,012

Veeva

Systems,

Inc.,

Class

A(a)

3,987

1,148,176

Waters

Corp.(a)

2,374

828,621

West

Pharmaceutical

Services,

Inc.

2,195

480,266

Zoetis,

Inc.

8,056

1,256,333

#### 33,329,067

#### Industrials

#### (#### 23

#### .9

#### %

####):
AECOM

12,302

1,388,404

AMETEK,

Inc.

7,551

1,366,429

Axon

Enterprise,

Inc.(a)

814

673,943

Builders

FirstSource,

Inc.(a)

5,809

677,852

C.H.

Robinson

Worldwide,

Inc.

10,647

1,021,580

Carlisle

Cos.,

Inc.

2,631

982,415

Carrier

Global

Corp.

16,274

1,191,094

Caterpillar,

Inc.

3,360

1,304,386

Cintas

Corp.

5,372

1,197,258

Clean

Harbors,

Inc.(a)

4,716

1,090,245

Comfort

Systems

USA,

Inc.

1,351

724,420

Copart,

Inc.(a)

19,164

940,377

CSX

Corp.

40,399

1,318,219

Curtiss-Wright

Corp.

2,657

1,298,077

Deere

&

Co.

2,247

1,142,577

Dover

Corp.

7,146

1,309,362

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Industrials

#### (23.9%):
(continued)

EMCOR

Group,

Inc.

1,669

892,731

Equifax,

Inc.

4,652

1,206,589

Expeditors

International

of

Washington,

Inc.

12,503

1,428,468

Fastenal

Co.

28,244

1,186,248

Fortive

Corp.

19,046

992,868

GE

Vernova,

Inc.

1,517

802,721

General

Dynamics

Corp.

4,775

1,392,676

Graco,

Inc.

17,684

1,520,293

HEICO

Corp.

3,837

1,258,536

Howmet

Aerospace,

Inc.

6,065

1,128,878

Hubbell,

Inc.

2,446

998,971

IDEX

Corp.

6,571

1,153,670

Illinois

Tool

Works,

Inc.

6,402

1,582,895

Ingersoll

Rand,

Inc.

13,509

1,123,679

ITT,

Inc.

7,871

1,234,409

J.B.

Hunt

Transport

Services,

Inc.

7,405

1,063,358

Lennox

International,

Inc.

1,595

914,318

Lincoln

Electric

Holdings,

Inc.

4,968

1,029,966

Masco

Corp.

18,638

1,199,542

Norfolk

Southern

Corp.

4,541

1,162,360

Old

Dominion

Freight

Line,

Inc.

5,240

850,452

Otis

Worldwide

Corp.

15,204

1,505,500

PACCAR,

Inc.

10,543

1,002,218

Parker-Hannifin

Corp.

1,659

1,158,762

Paychex,

Inc.

9,258

1,346,669

Paycom

Software,

Inc.

3,216

744,182

Paylocity

Holding

Corp.(a)

4,706

852,680

Quanta

Services,

Inc.

2,424

916,466

Republic

Services,

Inc.

6,732

1,660,179

Rockwell

Automation,

Inc.

3,666

1,217,735

Rollins,

Inc.

23,822

1,344,037

Snap-on,

Inc.

3,621

1,126,783

SS&C

Technologies

Holdings,

Inc.

16,869

1,396,753

Textron,

Inc.

17,505

1,405,476

Trane

Technologies

PLC

3,112

1,361,220

TransDigm

Group,

Inc.

803

1,221,074

TransUnion

11,544

1,015,872

U-Haul

Holding

Co.

20,438

1,111,214

Union

Pacific

Corp.

6,048

1,391,524

United

Rentals,

Inc.

1,332

1,003,529

Verisk

Analytics,

Inc.

4,809

1,498,003

Vertiv

Holdings

Co.,

Class

A

5,494

705,485

W.W.

Grainger,

Inc.

1,258

1,308,622

Waste

Management,

Inc.

6,063

1,387,336

Watsco,

Inc.

1,849

816,555

Westinghouse

Air

Brake

Technologies

Corp.

6,541

1,369,358

Xylem,

Inc.

10,895

1,409,377

#### 73,026,875

#### Information

#### Technology

#### (#### 15

#### .7

#### %

####):
Akamai

Technologies,

Inc.(a)

9,162

730,761

Amphenol

Corp.,

Class

A

11,506

1,136,217

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Information

#### Technology

#### (15.7%):
(continued)

Analog

Devices,

Inc.

4,414

1,050,620

AppLovin

Corp.,

Class

A(a)

1,136

397,691

Arista

Networks,

Inc.(a)

7,273

744,101

Bentley

Systems,

Inc.,

Class

B

24,140

1,302,836

Broadcom,

Inc.

2,439

672,310

Cadence

Design

Systems,

Inc.(a)

2,641

813,824

CDW

Corp.

6,477

1,156,727

Ciena

Corp.(a)

8,892

723,186

Cognizant

Technology

Solutions

Corp.,

Class

A

18,661

1,456,118

Corpay,

Inc.(a)

3,453

1,145,774

Datadog,

Inc.,

Class

A(a)

7,680

1,031,654

Docusign,

Inc.(a)

7,381

574,906

Dynatrace,

Inc.(a)

20,161

1,113,089

Entegris,

Inc.

8,966

723,108

EPAM

Systems,

Inc.(a)

4,834

854,748

F5,

Inc.(a)

3,420

1,006,574

Fair

Isaac

Corp.(a)

870,109

First

Solar,

Inc.(a)

4,267

706,359

Fortinet,

Inc.(a)

6,961

735,917

Gartner,

Inc.(a)

2,999

1,212,256

Jabil,

Inc.

5,965

1,300,967

Keysight

Technologies,

Inc.(a)

6,009

984,635

KLA

Corp.

893

799,896

Microchip

Technology,

Inc.

16,045

1,129,087

Monolithic

Power

Systems,

Inc.

842

615,822

Motorola

Solutions,

Inc.

3,304

1,389,200

NetApp,

Inc.

9,399

1,001,463

NVIDIA

Corp.

4,385

692,786

NXP

Semiconductors

NV

4,129

902,145

Okta,

Inc.(a)

5,605

560,332

ON

Semiconductor

Corp.(a)

15,712

823,466

Palantir

Technologies,

Inc.,

Class

A(a)

4,291

584,949

Palo

Alto

Networks,

Inc.(a)

4,948

1,012,559

PTC,

Inc.(a)

7,962

1,372,171

Roper

Technologies,

Inc.

2,471

1,400,662

Seagate

Technology

Holdings

PLC

12,212

1,762,558

ServiceNow,

Inc.(a)

955

981,816

Super

Micro

Computer,

Inc.(a)

6,868

336,601

Synopsys,

Inc.(a)

1,647

844,384

TD

SYNNEX

Corp.

8,749

1,187,239

Teledyne

Technologies,

Inc.(a)

2,841

1,455,473

Teradyne,

Inc.

7,331

659,204

Texas

Instruments,

Inc.

5,811

1,206,480

Trimble,

Inc.(a)

14,859

1,128,987

Tyler

Technologies,

Inc.(a)

1,988

1,178,566

Western

Digital

Corp.

18,959

1,213,186

Zebra

Technologies

Corp.(a)

4,163

1,283,703

#### 47,967,222

#### Materials

#### (#### 6

#### .9

#### %

####):
Avery

Dennison

Corp.

7,911

1,388,143

CF

Industries

Holdings,

Inc.

12,334

1,134,728

Freeport-McMoRan,

Inc.

22,098

957,948

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Materials

#### (6.9%):
(continued)

International

Flavors

&

Fragrances,

Inc.

16,082

1,182,831

International

Paper

Co.

19,756

925,174

Linde

PLC

4,301

2,017,943

LyondellBasell

Industries

NV,

Class

A

22,847

1,321,927

Martin

Marietta

Materials,

Inc.

2,246

1,232,964

Newmont

Corp.

14,900

868,074

Nucor

Corp.

6,584

852,891

Packaging

Corp.

of

America

6,632

1,249,800

PPG

Industries,

Inc.

12,745

1,449,744

Reliance,

Inc.

3,527

1,107,125

RPM

International,

Inc.

11,583

1,272,277

Steel

Dynamics,

Inc.

6,497

831,681

The

Sherwin-Williams

Co.

3,627

1,245,367

Vulcan

Materials

Co.

4,275

1,115,006

Westlake

Corp.

11,733

890,887

#### 21,044,510

#### Real

#### Estate

#### (#### 0

#### .3

#### %

####):
CoStar

Group,

Inc.(a)

12,699

1,021,000

#### 1,021,000

#### Utilities

#### (#### 8

#### .9

#### %

####):
Alliant

Energy

Corp.

25,763

1,557,889

Ameren

Corp.

15,631

1,501,201

American

Electric

Power

Co.,

Inc.

13,980

1,450,565

American

Water

Works

Co.,

Inc.

8,383

1,166,159

Atmos

Energy

Corp.

11,473

1,768,104

CenterPoint

Energy,

Inc.

35,734

1,312,867

CMS

Energy

Corp.

23,976

1,661,057

Consolidated

Edison,

Inc.

13,135

1,318,097

Constellation

Energy

Corp.

1,868

602,916

DTE

Energy

Co.

12,716

1,684,362

Entergy

Corp.

12,075

1,003,674

Evergy,

Inc.

28,595

1,971,053

Eversource

Energy

21,321

1,356,442

NextEra

Energy,

Inc.

15,872

1,101,834

NiSource,

Inc.

42,689

1,722,074

NRG

Energy,

Inc.

6,324

1,015,508

Public

Service

Enterprise

Group,

Inc.

15,224

1,281,556

The

Southern

Co.

16,620

1,526,215

Vistra

Corp.

3,250

629,883

WEC

Energy

Group,

Inc.

15,164

1,580,089

#### 27,211,545

#### Total

#### Common

#### Stocks

#### (Cost

#### $263,774,072)

#### 304,639,399

#### Total

#### Investments

#### (Cost

#### $263,774,072)

#### —

#### 99.7%

#### 304,639,399

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 0.3%

#### 791,803

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 305,431,202

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025

.

(a) Non-income

producing

security.

#### Futures

#### Contracts

#### Long

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

S&P

500

Index

E-mini

9/19/25

$

605,366

$

625,375

$

20,009

$

20,009

#### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.6%)

#### Consumer

#### Discretionary

#### (#### 5

#### .0

#### %

####):
Genuine

Parts

Co.

17,697

2,146,823

Lennar

Corp.,

Class

A

21,273

2,353,007

Pool

Corp.

7,407

2,158,992

Service

Corp.

International

35,728

2,908,259

Texas

Roadhouse,

Inc.

16,544

3,100,511

Tractor

Supply

Co.

48,369

2,552,432

#### 15,220,024

#### Consumer

#### Staples

#### (#### 6

#### .7

#### %

####):
Dollar

General

Corp.

15,799

1,807,090

Hormel

Foods

Corp.

102,925

3,113,481

Kenvue,

Inc.

114,847

2,403,748

Kimberly-Clark

Corp.

26,857

3,462,404

McCormick

&

Co.,

Inc.

46,812

3,549,286

Sysco

Corp.

47,484

3,596,438

The

Campbell's

Co.

73,122

2,241,189

#### 20,173,636

#### Energy

#### (#### 14

#### .1

#### %

####):
Baker

Hughes

Co.

60,070

2,303,084

ConocoPhillips

Co.

30,470

2,734,378

Coterra

Energy,

Inc.

104,663

2,656,347

Devon

Energy

Corp.

80,146

2,549,444

Diamondback

Energy,

Inc.

17,362

2,385,539

EOG

Resources,

Inc.

26,229

3,137,251

Halliburton

Co.

106,851

2,177,623

Kinder

Morgan,

Inc.

106,326

3,125,984

Occidental

Petroleum

Corp.

72,166

3,031,694

ONEOK,

Inc.

32,018

2,613,629

Ovintiv,

Inc.

58,781

2,236,617

Permian

Resources

Corp.

185,336

2,524,276

Phillips

Co.

25,005

2,983,097

Schlumberger

NV

70,786

2,392,567

The

Williams

Cos.,

Inc.

47,872

3,006,840

Valero

Energy

Corp.

19,429

2,611,646

#### 42,470,016

#### Financials

#### (#### 13

#### .8

#### %

####):
Aflac,

Inc.

31,762

3,349,620

Ares

Management

Corp.,

Class

A

15,228

2,637,490

Blue

Owl

Capital,

Inc.

104,279

2,003,200

Cincinnati

Financial

Corp.

22,756

3,388,824

CME

Group,

Inc.

15,734

4,336,605

Corebridge

Financial,

Inc.

77,102

2,737,121

East

West

Bancorp,

Inc.

30,751

3,105,236

Equitable

Holdings,

Inc.

46,064

2,584,190

Everest

Group

Ltd.

7,909

2,687,874

Fidelity

National

Information

Services,

Inc.

40,015

3,257,621

Jefferies

Financial

Group,

Inc.

44,950

2,458,315

Principal

Financial

Group,

Inc.

40,558

3,221,522

Reinsurance

Group

of

America,

Inc.

13,586

2,694,919

The

Progressive

Corp.

11,059

2,951,205

#### 41,413,742

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Health

#### Care

#### (#### 1

#### .2

#### %

####):
Quest

Diagnostics,

Inc.

19,578

3,516,796

#### 3,516,796

#### Industrials

#### (#### 17

#### .1

#### %

####):
C.H.

Robinson

Worldwide,

Inc.

26,440

2,536,918

Caterpillar,

Inc.

8,354

3,243,106

CSX

Corp.

100,340

3,274,094

Fastenal

Co.

70,156

2,946,552

General

Dynamics

Corp.

11,862

3,459,671

Hubbell,

Inc.

6,075

2,481,091

IDEX

Corp.

16,317

2,864,776

Illinois

Tool

Works,

Inc.

15,900

3,931,275

Lincoln

Electric

Holdings,

Inc.

12,351

2,560,609

Masco

Corp.

46,292

2,979,353

Norfolk

Southern

Corp.

11,273

2,885,550

Otis

Worldwide

Corp.

37,770

3,739,986

Paychex,

Inc.

22,995

3,344,853

Rockwell

Automation,

Inc.

9,104

3,024,076

Snap-on,

Inc.

9,002

2,801,242

Union

Pacific

Corp.

15,011

3,453,731

Watsco,

Inc.

4,599

2,031,010

#### 51,557,893

#### Information

#### Technology

#### (#### 9

#### .0

#### %

####):
Analog

Devices,

Inc.

10,956

2,607,747

CDW

Corp.

16,091

2,873,692

Cognizant

Technology

Solutions

Corp.,

Class

A

46,353

3,616,925

Microchip

Technology,

Inc.

39,855

2,804,596

NetApp,

Inc.

23,344

2,487,303

NXP

Semiconductors

NV

10,246

2,238,649

Seagate

Technology

Holdings

PLC

30,336

4,378,395

TD

SYNNEX

Corp.

21,729

2,948,625

Texas

Instruments,

Inc.

14,439

2,997,825

#### 26,953,757

#### Materials

#### (#### 11

#### .3

#### %

####):
Avery

Dennison

Corp.

19,649

3,447,810

CF

Industries

Holdings,

Inc.

30,642

2,819,064

International

Flavors

&

Fragrances,

Inc.

39,941

2,937,661

International

Paper

Co.

49,067

2,297,808

LyondellBasell

Industries

NV,

Class

A

56,749

3,283,497

Newmont

Corp.

37,018

2,156,669

Nucor

Corp.

16,349

2,117,849

Packaging

Corp.

of

America

16,479

3,105,468

PPG

Industries,

Inc.

31,660

3,601,325

Reliance,

Inc.

8,761

2,750,078

RPM

International,

Inc.

28,768

3,159,877

Westlake

Corp.

29,136

2,212,296

#### 33,889,402

#### Utilities

#### (#### 21

#### .4

#### %

####):
Alliant

Energy

Corp.

63,980

3,868,871

Ameren

Corp.

38,825

3,728,753

American

Electric

Power

Co.,

Inc.

34,724

3,602,962

American

Water

Works

Co.,

Inc.

20,828

2,897,383

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025

.

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Utilities

#### (21.4%):
(continued)

Atmos

Energy

Corp.

28,489

4,390,440

CenterPoint

Energy,

Inc.

88,759

3,261,006

CMS

Energy

Corp.

59,550

4,125,624

Consolidated

Edison,

Inc.

32,629

3,274,320

DTE

Energy

Co.

31,579

4,182,954

Entergy

Corp.

29,998

2,493,434

Evergy,

Inc.

71,022

4,895,546

Eversource

Energy

52,963

3,369,506

NextEra

Energy,

Inc.

39,428

2,737,092

NiSource,

Inc.

106,032

4,277,331

NRG

Energy,

Inc.

15,715

2,523,515

Public

Service

Enterprise

Group,

Inc.

37,815

3,183,267

The

Southern

Co.

41,279

3,790,650

WEC

Energy

Group,

Inc.

37,666

3,924,797

#### 64,527,451

#### Total

#### Common

#### Stocks

#### (Cost

#### $281,286,736)

#### 299,722,717

#### Total

#### Investments

#### (Cost

#### $281,286,736)

#### —

#### 99.6%

#### 299,722,717

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 0.4%

#### 1,104,376

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 300,827,093

#### Futures

#### Contracts

#### Long

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

S&P

500

Index

E-mini

9/19/25

$

917,033

$

938,063

$

21,030

$

21,030

#### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.0%)

#### Australia

#### (#### 7.5%

####):

#### Communication

#### Services

#### (#### 0.7%

####):
REA

Group

Ltd.

2,038

322,497

Telstra

Group

Ltd.

211,314

672,975

#### 995,472

#### Consumer

#### Discretionary

#### (#### 0.3%

####):
Wesfarmers

Ltd.

9,211

513,655

#### 513,655

#### Consumer

#### Staples

#### (#### 0.7%

####):
Coles

Group

Ltd.

45,090

618,305

Woolworths

Group

Ltd.

24,123

493,806

#### 1,112,111

#### Energy

#### (#### 0.7%

####):
Santos

Ltd.

119,051

600,049

Woodside

Energy

Group

Ltd.

28,054

436,198

#### 1,036,247

#### Financials

#### (#### 1.9%

####):
ANZ

Group

Holdings

Ltd.

26,551

509,441

Commonwealth

Bank

of

Australia

4,264

518,354

Insurance

Australia

Group

Ltd.

75,345

447,680

National

Australia

Bank

Ltd.

19,251

498,578

Suncorp

Group

Ltd.

24,734

351,701

Westpac

Banking

Corp.

23,086

514,352

#### 2,840,106

#### Health

#### Care

#### (#### 0.9%

####):
Cochlear

Ltd.

2,145

424,015

CSL

Ltd.

3,631

572,164

Pro

Medicus

Ltd.

1,719

322,453

#### 1,318,632

#### Industrials

#### (#### 0.9%

####):
Brambles

Ltd.

30,962

477,135

Computershare

Ltd.

12,944

339,748

SGH

Ltd.

12,742

453,335

#### 1,270,218

#### Information

#### Technology

#### (#### 0.2%

####):
WiseTech

Global

Ltd.

3,715

266,520

#### 266,520

#### Materials

#### (#### 0.9%

####):
BHP

Group

Ltd.

18,740

453,160

Fortescue

Ltd.

25,516

256,544

Northern

Star

Resources

Ltd.

23,811

290,634

Rio

Tinto

Ltd.

5,415

381,711

#### 1,382,049

#### Utilities

#### (#### 0.3%

####):
Origin

Energy

Ltd.

61,499

436,631

#### 436,631

#### 11,171,641

#### Austria

#### (#### 0.9%

####):

#### Energy

#### (#### 0.4%

####):
OMV

AG

10,397

565,502

#### 565,502

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Austria

#### (0.9%):
(continued)

#### Financials

#### (#### 0.2%

####):
Erste

Group

Bank

AG

4,886

416,067

#### 416,067

#### Utilities

#### (#### 0.3%

####):
Verbund

AG

5,458

418,813

#### 418,813

#### 1,400,382

#### Belgium

#### (#### 0.6%

####):

#### Financials

#### (#### 0.3%

####):
KBC

Group

NV

4,578

472,660

#### 472,660

#### Health

#### Care

#### (#### 0.3%

####):
UCB

SA

2,089

410,768

#### 410,768

#### 883,428

#### Canada

#### (#### 11.7%

####):

#### Consumer

#### Discretionary

#### (#### 0.6%

####):
Dollarama,

Inc.

3,864

544,496

Magna

International,

Inc.

8,711

336,771

#### 881,267

#### Consumer

#### Staples

#### (#### 0.9%

####):
George

Weston

Ltd.

3,075

616,784

Metro,

Inc.

8,462

664,792

#### 1,281,576

#### Energy

#### (#### 2.5%

####):
ARC

Resources

Ltd.

17,033

359,149

Cameco

Corp.

5,168

383,842

Canadian

Natural

Resources

Ltd.

13,307

418,287

Cenovus

Energy,

Inc.

27,412

373,050

Imperial

Oil

Ltd.

5,277

419,261

Pembina

Pipeline

Corp.

14,763

554,372

Suncor

Energy,

Inc.

10,950

410,223

TC

Energy

Corp.

8,208

400,755

Tourmaline

Oil

Corp.

8,567

413,375

#### 3,732,314

#### Financials

#### (#### 2.8%

####):
Brookfield

Corp.

6,914

427,961

Fairfax

Financial

Holdings

Ltd.

519,906

Great-West

Lifeco,

Inc.

13,701

521,133

Intact

Financial

Corp.

2,679

623,021

National

Bank

of

Canada

6,887

710,753

Power

Corp.

of

Canada

15,658

611,669

The

Bank

of

Nova

Scotia

13,459

744,318

#### 4,158,761

#### Industrials

#### (#### 1.4%

####):
Canadian

National

Railway

Co.

4,795

499,679

Canadian

Pacific

Kansas

City

Ltd.

5,711

453,743

Waste

Connections,

Inc.

3,339

623,806

WSP

Global,

Inc.

2,665

543,667

#### 2,120,895

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Canada

#### (11.7%):
(continued)

#### Information

#### Technology

#### (#### 0.6%

####):
Celestica,

Inc.(a)

1,622

253,449

Constellation

Software,

Inc.

436,392

Shopify,

Inc.,

Class

A(a)

2,090

241,081

#### 930,922

#### Materials

#### (#### 1.5%

####):
Agnico

Eagle

Mines

Ltd.

2,864

341,257

Barrick

Mining

Corp.

15,117

314,752

Ivanhoe

Mines

Ltd.(a)

21,357

160,460

Kinross

Gold

Corp.

16,573

259,014

Nutrien

Ltd.

7,227

421,168

Teck

Resources

Ltd.,

Class

B

8,068

326,311

Wheaton

Precious

Metals

Corp.

4,161

374,233

#### 2,197,195

#### Utilities

#### (#### 1.4%

####):
Emera,

Inc.

13,903

636,948

Fortis,

Inc.

14,626

698,430

Hydro

One

Ltd.

19,689

709,562

#### 2,044,940

#### 17,347,870

#### Chile

#### (#### 0.2%

####):

#### Materials

#### (#### 0.2%

####):
Antofagasta

PLC

12,943

321,421

#### 321,421

#### Denmark

#### (#### 2.4%

####):

#### Consumer

#### Discretionary

#### (#### 0.3%

####):
Pandora

A/S

2,641

463,743

#### 463,743

#### Financials

#### (#### 0.8%

####):
Danske

Bank

A/S

12,943

527,914

Tryg

A/S

23,863

616,471

#### 1,144,385

#### Health

#### Care

#### (#### 0.5%

####):
Coloplast

A/S,

Class

B

4,264

405,069

Genmab

A/S(a)

1,525

316,665

#### 721,734

#### Industrials

#### (#### 0.5%

####):
DSV

A/S

2,123

510,234

Vestas

Wind

Systems

A/S

14,723

220,910

#### 731,144

#### Materials

#### (#### 0.3%

####):
Novonesis

(Novozymes),

Class

B

7,052

505,671

#### 505,671

#### 3,566,677

#### Finland

#### (#### 1.6%

####):

#### Financials

#### (#### 0.4%

####):
Sampo

Oyj,

A

Shares

60,951

655,426

#### 655,426

#### Industrials

#### (#### 0.3%

####):
Wartsila

Oyj

Abp

16,423

387,634

#### 387,634

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Finland

#### (1.6%):
(continued)

#### Information

#### Technology

#### (#### 0.3%

####):
Nokia

Oyj

72,350

375,452

#### 375,452

#### Materials

#### (#### 0.3%

####):
UPM-Kymmene

Oyj

14,871

405,649

#### 405,649

#### Utilities

#### (#### 0.3%

####):
Fortum

Oyj

27,019

505,668

#### 505,668

#### 2,329,829

#### France

#### (#### 5.7%

####):

#### Communication

#### Services

#### (#### 0.3%

####):
Bollore

SE

75,048

471,127

#### 471,127

#### Consumer

#### Discretionary

#### (#### 0.6%

####):
Cie

Generale

des

Etablissements

Michelin

SCA

11,774

437,379

Hermes

International

SCA

365,548

#### 802,927

#### Energy

#### (#### 0.4%

####):
TotalEnergies

SE

9,105

558,714

#### 558,714

#### Financials

#### (#### 0.9%

####):
Amundi

SA

5,585

451,910

Credit

Agricole

SA

27,928

528,436

Societe

Generale

SA

6,576

376,030

#### 1,356,376

#### Health

#### Care

#### (#### 0.5%

####):
BioMerieux

3,518

486,447

Sartorius

Stedim

Biotech

1,237

295,468

#### 781,915

#### Industrials

#### (#### 1.5%

####):
Bouygues

SA

11,578

523,645

Bureau

Veritas

SA

15,410

525,258

Legrand

SA

3,175

424,435

Thales

SA

989

290,745

Vinci

SA

3,523

519,089

#### 2,283,172

#### Information

#### Technology

#### (#### 0.2%

####):
Dassault

Systemes

SE

9,403

340,330

#### 340,330

#### Materials

#### (#### 0.4%

####):
Air

Liquide

SA

2,774

572,221

#### 572,221

#### Utilities

#### (#### 0.9%

####):
Engie

SA

31,370

736,181

Veolia

Environnement

SA

14,692

523,454

#### 1,259,635

#### 8,426,417

#### Germany

#### (#### 4.6%

####):

#### Communication

#### Services

#### (#### 0.2%

####):
CTS

Eventim

AG

&

Co.

KGaA

2,965

368,076

#### 368,076

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Germany

#### (4.6%):
(continued)

#### Consumer

#### Discretionary

#### (#### 0.2%

####):
Continental

AG

3,608

314,888

#### 314,888

#### Financials

#### (#### 1.2%

####):
Commerzbank

AG

10,220

322,354

Hannover

Rueck

SE

1,546

486,539

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen,

Class

R

674

437,087

Talanx

AG

3,670

475,046

#### 1,721,026

#### Health

#### Care

#### (#### 0.3%

####):
Fresenius

Medical

Care

AG

7,227

414,107

#### 414,107

#### Industrials

#### (#### 0.7%

####):
Deutsche

Post

AG

8,003

369,591

Knorr-Bremse

AG

3,581

346,063

Rheinmetall

AG

298,428

#### 1,014,082

#### Information

#### Technology

#### (#### 0.5%

####):
Infineon

Technologies

AG

8,278

352,115

Nemetschek

SE

2,671

386,947

#### 739,062

#### Materials

#### (#### 0.6%

####):
Heidelberg

Materials

AG

1,453

341,328

Symrise

AG

4,570

479,800

#### 821,128

#### Real

#### Estate

#### (#### 0.3%

####):
Vonovia

SE

11,734

413,366

#### 413,366

#### Utilities

#### (#### 0.6%

####):
E.ON

SE

28,454

523,643

RWE

AG

10,150

423,554

#### 947,197

#### 6,752,932

#### Hong

#### Kong

#### (#### 3.6%

####):

#### Financials

#### (#### 0.9%

####):
AIA

Group

Ltd.

47,866

429,286

Hang

Seng

Bank

Ltd.

32,989

494,224

Prudential

PLC

31,528

394,873

#### 1,318,383

#### Industrials

#### (#### 0.5%

####):
CK

Hutchison

Holdings

Ltd.

52,198

321,180

Techtronic

Industries

Co.

Ltd.

34,042

374,259

#### 695,439

#### Real

#### Estate

#### (#### 1.0%

####):
Henderson

Land

Development

Co.

Ltd.

146,965

513,929

Sun

Hung

Kai

Properties

Ltd.

46,375

532,004

Swire

Pacific

Ltd.,

Class

A

49,057

420,281

#### 1,466,214

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Hong

#### Kong

#### (3.6%):
(continued)

#### Utilities

#### (#### 1.2%

####):
CLP

Holdings

Ltd.

87,268

734,858

Hong

Kong

&

China

Gas

Co.

Ltd.

690,974

580,088

Power

Assets

Holdings

Ltd.

84,505

543,114

#### 1,858,060

#### 5,338,096

#### Ireland

#### (#### 1.8%

####):

#### Consumer

#### Staples

#### (#### 0.3%

####):
Kerry

Group

PLC,

Class

A

4,301

474,911

#### 474,911

#### Financials

#### (#### 0.5%

####):
AIB

Group

PLC

50,605

416,324

Bank

of

Ireland

Group

PLC

25,138

357,808

#### 774,132

#### Industrials

#### (#### 0.8%

####):
Experian

PLC

10,230

526,768

Kingspan

Group

PLC

3,537

300,777

Ryanair

Holdings

PLC,

ADR

6,447

371,798

#### 1,199,343

#### Materials

#### (#### 0.2%

####):
Smurfit

WestRock

PLC

6,792

292,877

#### 292,877

#### 2,741,263

#### Israel

#### (#### 1.0%

####):

#### Financials

#### (#### 0.7%

####):
Bank

Leumi

Le-Israel

BM,

Class

IS

27,680

515,088

Mizrahi

Tefahot

Bank

Ltd.

8,304

541,656

#### 1,056,744

#### Industrials

#### (#### 0.3%

####):
Elbit

Systems

Ltd.

801

356,571

#### 356,571

#### 1,413,315

#### Italy

#### (#### 4.9%

####):

#### Consumer

#### Discretionary

#### (#### 0.2%

####):
Moncler

SpA

4,773

272,031

#### 272,031

#### Energy

#### (#### 0.4%

####):
Eni

SpA

40,189

651,325

#### 651,325

#### Financials

#### (#### 2.1%

####):
FinecoBank

Banca

Fineco

SpA

19,392

430,190

Generali

16,546

588,729

Intesa

Sanpaolo

SpA

85,392

491,961

Mediobanca

Banca

di

Credito

Finanziario

SpA

22,389

520,408

Poste

Italiane

SpA

31,848

684,193

UniCredit

SpA

5,751

385,482

#### 3,100,963

#### Health

#### Care

#### (#### 0.4%

####):
Recordati

Industria

Chimica

e

Farmaceutica

SpA

8,145

512,276

#### 512,276

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Italy

#### (4.9%):
(continued)

#### Industrials

#### (#### 0.4%

####):
Leonardo

SpA

5,113

287,736

Prysmian

SpA

5,144

363,759

#### 651,495

#### Utilities

#### (#### 1.4%

####):
Enel

SpA

70,469

668,635

Snam

SpA

113,076

684,817

Terna

-

Rete

Elettrica

Nazionale

68,475

703,751

#### 2,057,203

#### 7,245,293

#### Japan

#### (#### 17.9%

####):

#### Consumer

#### Discretionary

#### (#### 2.4%

####):
Asics

Corp.

10,200

260,685

Bridgestone

Corp.

8,700

356,483

Denso

Corp.

22,500

304,787

Fast

Retailing

Co.

Ltd.

900

309,521

Nitori

Holdings

Co.

Ltd.

2,300

222,349

Oriental

Land

Co.

Ltd.

14,600

337,040

Pan

Pacific

International

Holdings

Corp.

9,600

330,623

Sanrio

Co.

Ltd.

4,500

217,765

Sekisui

House

Ltd.

14,600

322,743

Shimano,

Inc.

2,400

348,441

Sumitomo

Electric

Industries

Ltd.

16,000

343,913

Suzuki

Motor

Corp.

22,600

273,573

#### 3,627,923

#### Consumer

#### Staples

#### (#### 1.1%

####):
Aeon

Co.

Ltd.

14,200

435,891

Ajinomoto

Co.,

Inc.

18,400

499,518

Kao

Corp.

10,200

457,403

Unicharm

Corp.

36,600

264,479

#### 1,657,291

#### Energy

#### (#### 0.4%

####):
ENEOS

Holdings,

Inc.

61,700

306,422

Inpex

Corp.

25,000

351,587

#### 658,009

#### Financials

#### (#### 2.5%

####):
Dai-ichi

Life

Holdings,

Inc.

40,600

309,033

Japan

Exchange

Group,

Inc.

29,800

302,263

Japan

Post

Bank

Co.

Ltd.

31,800

343,420

Japan

Post

Holdings

Co.

Ltd.

31,900

295,871

MS&AD

Insurance

Group

Holdings,

Inc.

13,300

298,347

ORIX

Corp.

14,500

328,287

Resona

Holdings,

Inc.

28,800

266,418

Sompo

Holdings,

Inc.

8,400

253,476

Sumitomo

Mitsui

Financial

Group,

Inc.

11,900

300,331

Sumitomo

Mitsui

Trust

Group,

Inc.

13,500

359,931

T&D

Holdings,

Inc.

13,200

290,603

Tokio

Marine

Holdings,

Inc.

6,600

280,107

#### 3,628,087

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Japan

#### (17.9%):
(continued)

#### Health

#### Care

#### (#### 1.5%

####):
Chugai

Pharmaceutical

Co.

Ltd.

5,900

308,337

Daiichi

Sankyo

Co.

Ltd.

10,900

254,729

Hoya

Corp.

2,600

309,765

Olympus

Corp.

25,500

303,719

Shionogi

&

Co.

Ltd.

26,000

468,394

Sysmex

Corp.

18,100

316,018

Terumo

Corp.

15,700

288,944

#### 2,249,906

#### Industrials

#### (#### 4.7%

####):
Central

Japan

Railway

Co.

20,000

448,920

Daikin

Industries

Ltd.

2,300

271,946

East

Japan

Railway

Co.

18,300

395,003

FANUC

Corp.

11,700

320,147

Fujikura

Ltd.

4,800

252,384

Hitachi

Ltd.

8,800

256,990

ITOCHU

Corp.

6,600

346,341

Kajima

Corp.

13,800

360,646

Komatsu

Ltd.

11,200

368,459

Kubota

Corp.

29,800

335,687

Marubeni

Corp.

17,500

354,035

Mitsubishi

Corp.

18,000

361,025

Mitsubishi

Electric

Corp.

13,200

285,195

Mitsubishi

Heavy

Industries

Ltd.

9,900

248,205

Mitsui

OSK

Lines

Ltd.

8,000

267,796

NIDEC

Corp.

19,400

377,922

Nippon

Yusen

KK

8,200

295,448

Secom

Co.

Ltd.

11,700

421,148

SMC

Corp.

900

325,273

Toyota

Industries

Corp.

2,700

305,646

Toyota

Tsusho

Corp.

16,200

367,788

#### 6,966,004

#### Information

#### Technology

#### (#### 2.8%

####):
Advantest

Corp.

3,900

288,593

Canon,

Inc.

11,200

325,834

Disco

Corp.

800

236,850

FUJIFILM

Holdings

Corp.

15,100

329,496

Fujitsu

Ltd.

12,000

292,937

Keyence

Corp.

600

241,017

Kyocera

Corp.

26,400

317,830

Murata

Manufacturing

Co.

Ltd.

18,500

276,748

NEC

Corp.

10,400

304,727

Nomura

Research

Institute

Ltd.

8,400

337,365

Obic

Co.

Ltd.

13,400

522,171

Renesas

Electronics

Corp.

14,900

185,125

TDK

Corp.

22,700

267,295

Tokyo

Electron

Ltd.

1,200

230,683

#### 4,156,671

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Japan

#### (17.9%):
(continued)

#### Materials

#### (#### 1.2%

####):
Nippon

Paint

Holdings

Co.

Ltd.

35,700

287,603

Nippon

Sanso

Holdings

Corp.

7,400

280,757

Nippon

Steel

Corp.

19,300

366,324

Nitto

Denko

Corp.

13,500

261,721

Shin-Etsu

Chemical

Co.

Ltd.

9,500

314,841

Toray

Industries,

Inc.

41,100

281,954

#### 1,793,200

#### Real

#### Estate

#### (#### 0.9%

####):
Daiwa

House

Industry

Co.

Ltd.

11,700

402,540

Mitsubishi

Estate

Co.

Ltd.

18,100

339,776

Mitsui

Fudosan

Co.

Ltd.

27,800

269,331

Sumitomo

Realty

&

Development

Co.

Ltd.

6,600

255,172

#### 1,266,819

#### Utilities

#### (#### 0.4%

####):
The

Kansai

Electric

Power

Co.,

Inc.

19,900

236,190

Tokyo

Gas

Co.

Ltd.

8,600

286,209

#### 522,399

#### 26,526,309

#### Luxembourg

#### (#### 0.5%

####):

#### Energy

#### (#### 0.3%

####):
Tenaris

SA

24,099

453,432

#### 453,432

#### Materials

#### (#### 0.2%

####):
ArcelorMittal

SA

9,335

295,429

#### 295,429

#### 748,861

#### Netherlands

#### (#### 3.5%

####):

#### Consumer

#### Discretionary

#### (#### 0.3%

####):
Prosus

NV(a)

7,476

417,985

#### 417,985

#### Financials

#### (#### 1.8%

####):
ABN

AMRO

Bank

NV

18,416

504,084

Adyen

NV(a)

306,526

ASR

Nederland

NV

8,484

563,375

Euronext

NV

3,316

566,701

NN

Group

NV

10,316

685,514

#### 2,626,200

#### Health

#### Care

#### (#### 0.2%

####):
Argenx

SE(a)

639

353,579

#### 353,579

#### Industrials

#### (#### 0.7%

####):
Ferrovial

SE

10,923

582,275

Wolters

Kluwer

NV

2,685

448,902

#### 1,031,177

#### Information

#### Technology

#### (#### 0.2%

####):
ASM

International

NV

315,528

#### 315,528

#### Materials

#### (#### 0.3%

####):
Akzo

Nobel

NV

6,152

430,402

#### 430,402

#### 5,174,871

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### New

#### Zealand

#### (#### 0.5%

####):

#### Health

#### Care

#### (#### 0.2%

####):
Fisher

&

Paykel

Healthcare

Corp.

Ltd.

15,905

349,357

#### 349,357

#### Information

#### Technology

#### (#### 0.3%

####):
Xero

Ltd.(a)

3,687

436,202

#### 436,202

#### 785,559

#### Norway

#### (#### 1.7%

####):

#### Communication

#### Services

#### (#### 0.4%

####):
Telenor

ASA

40,847

635,314

#### 635,314

#### Energy

#### (#### 0.5%

####):
Aker

BP

ASA

14,908

381,471

Equinor

ASA

13,480

341,318

#### 722,789

#### Financials

#### (#### 0.4%

####):
DNB

Bank

ASA

20,082

555,325

#### 555,325

#### Industrials

#### (#### 0.2%

####):
Kongsberg

Gruppen

ASA

8,385

325,291

#### 325,291

#### Materials

#### (#### 0.2%

####):
Norsk

Hydro

ASA

53,732

306,876

#### 306,876

#### 2,545,595

#### Portugal

#### (#### 0.9%

####):

#### Consumer

#### Staples

#### (#### 0.2%

####):
Jeronimo

Martins

SGPS

SA

13,077

330,837

#### 330,837

#### Energy

#### (#### 0.4%

####):
Galp

Energia

SGPS

SA

26,610

487,984

#### 487,984

#### Utilities

#### (#### 0.3%

####):
EDP

SA

106,834

463,303

#### 463,303

#### 1,282,124

#### Russian

#### Federation

#### (#### 0.0%

####):

#### Materials

#### (#### 0.0%

####):
Evraz

PLC(a)(b)(c)

38,723

—

#### —

#### Singapore

#### (#### 2.4%

####):

#### Consumer

#### Staples

#### (#### 0.3%

####):
Wilmar

International

Ltd.

205,100

463,056

#### 463,056

#### Financials

#### (#### 1.3%

####):
DBS

Group

Holdings

Ltd.

17,640

623,201

Oversea-Chinese

Banking

Corp.

Ltd.

52,300

671,030

United

Overseas

Bank

Ltd.

23,100

654,185

#### 1,948,416

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Singapore

#### (2.4%):
(continued)

#### Industrials

#### (#### 0.8%

####):
Singapore

Airlines

Ltd.

117,100

642,060

Singapore

Technologies

Engineering

Ltd.

81,300

498,212

#### 1,140,272

#### 3,551,744

#### South

#### Korea

#### (#### 3.8%

####):

#### Communication

#### Services

#### (#### 0.3%

####):
NAVER

Corp.

2,170

422,163

#### 422,163

#### Consumer

#### Discretionary

#### (#### 0.5%

####):
Hyundai

Mobis

Co.

Ltd.

1,900

404,136

Kia

Corp.

4,859

348,949

#### 753,085

#### Financials

#### (#### 1.1%

####):
Hana

Financial

Group,

Inc.

7,338

469,332

KB

Financial

Group,

Inc.

4,773

392,297

Meritz

Financial

Group,

Inc.

3,917

326,586

Shinhan

Financial

Group

Co.

Ltd.

8,403

382,379

#### 1,570,594

#### Health

#### Care

#### (#### 0.2%

####):
Celltrion,

Inc.

2,657

314,303

#### 314,303

#### Industrials

#### (#### 1.1%

####):
Doosan

Enerbility

Co.

Ltd.(a)

11,583

587,176

Hanwha

Aerospace

Co.

Ltd.

155,862

Hanwha

Ocean

Co.

Ltd.(a)

2,551

150,114

HMM

Co.

Ltd.

18,632

310,694

Samsung

C&T

Corp.

3,670

438,997

#### 1,642,843

#### Information

#### Technology

#### (#### 0.4%

####):
Samsung

SDI

Co.

Ltd.

1,608

205,931

SK

Hynix,

Inc.

1,419

307,083

#### 513,014

#### Materials

#### (#### 0.2%

####):
Korea

Zinc

Co.

Ltd.

118,362

POSCO

Holdings,

Inc.

1,174

227,091

#### 345,453

#### 5,561,455

#### Spain

#### (#### 3.1%

####):

#### Consumer

#### Discretionary

#### (#### 0.6%

####):
Amadeus

IT

Group

SA

6,154

518,100

Industria

de

Diseno

Textil

SA

7,522

391,409

#### 909,509

#### Energy

#### (#### 0.4%

####):
Repsol

SA

41,747

611,425

#### 611,425

#### Financials

#### (#### 0.5%

####):
Banco

de

Sabadell

SA

109,992

350,170

CaixaBank

SA

43,628

377,886

#### 728,056

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Spain

#### (3.1%):
(continued)

#### Industrials

#### (#### 0.8%

####):
ACS

Actividades

de

Construccion

y

Servicios

SA

7,377

512,195

Aena

SME

SA

22,160

591,428

#### 1,103,623

#### Utilities

#### (#### 0.8%

####):
Endesa

SA

18,832

596,429

Iberdrola

SA

33,114

635,338

#### 1,231,767

#### 4,584,380

#### Sweden

#### (#### 4.8%

####):

#### Financials

#### (#### 1.9%

####):
EQT

AB

10,604

354,214

Industrivarden

AB,

Class

C

14,583

526,912

Investor

AB,

Class

B

16,882

499,391

Skandinaviska

Enskilda

Banken

AB,

Class

A

29,696

518,432

Svenska

Handelsbanken

AB,

Class

A

34,889

466,503

Swedbank

AB,

Class

A

17,915

474,538

#### 2,839,990

#### Health

#### Care

#### (#### 0.2%

####):
Swedish

Orphan

Biovitrum

AB(a)

11,584

353,020

#### 353,020

#### Industrials

#### (#### 2.2%

####):
Alfa

Laval

AB

10,887

457,952

Assa

Abloy

AB,

Class

B

15,338

478,775

Atlas

Copco

AB,

Class

A

23,834

385,220

Epiroc

AB,

Class

A

18,294

397,334

Lifco

AB,

Class

B

10,370

419,757

Saab

AB,

Class

B

4,632

258,416

Sandvik

AB

18,203

417,493

Volvo

AB,

Class

B

13,782

386,776

#### 3,201,723

#### Information

#### Technology

#### (#### 0.5%

####):
Hexagon

AB,

Class

B

35,594

358,160

Telefonaktiebolaget

LM

Ericsson,

Class

B

47,777

408,911

#### 767,071

#### 7,161,804

#### Switzerland

#### (#### 7.2%

####):

#### Communication

#### Services

#### (#### 0.5%

####):
Swisscom

AG,

Registered

Shares

1,081

766,691

#### 766,691

#### Consumer

#### Discretionary

#### (#### 0.2%

####):
Cie

Financiere

Richemont

SA,

Registered

Shares

1,721

324,302

#### 324,302

#### Consumer

#### Staples

#### (#### 0.3%

####):
Chocoladefabriken

Lindt

&

Spruengli

AG,

Class

PC

471,315

#### 471,315

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025. #### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Switzerland

#### (7.2%):
(continued)

#### Financials

#### (#### 1.4%

####):
Julius

Baer

Group

Ltd.

5,481

370,698

Partners

Group

Holding

AG

378,452

Swiss

Life

Holding

AG

747

755,948

Swiss

Re

AG

2,727

471,577

#### 1,976,675

#### Health

#### Care

#### (#### 1.1%

####):
Alcon

AG

5,230

462,925

Lonza

Group

AG,

Registered

Shares

585

416,751

Sonova

Holding

AG

1,545

460,519

Straumann

Holding

AG,

Class

R

2,569

335,418

#### 1,675,613

#### Industrials

#### (#### 1.9%

####):
ABB

Ltd.,

Registered

7,932

473,159

Geberit

AG,

Registered

Shares

622

489,381

Kuehne

+

Nagel

International

AG,

Class

R

2,031

439,568

Schindler

Holding

AG,

Class

PC

1,678

624,146

SGS

SA,

Registered

Shares

4,166

422,851

VAT

Group

AG

816

344,364

#### 2,793,469

#### Information

#### Technology

#### (#### 0.2%

####):
STMicroelectronics

NV

10,942

334,237

#### 334,237

#### Materials

#### (#### 1.6%

####):
DSM-Firmenich

AG

4,321

459,358

EMS-Chemie

Holding

AG

747

564,182

Givaudan

SA,

Registered

Shares

469,773

Holcim

AG

4,177

310,207

Sika

AG,

Registered

Shares

1,739

472,300

#### 2,275,820

#### 10,618,122

#### United

#### Kingdom

#### (#### 5.9%

####):

#### Communication

#### Services

#### (#### 0.4%

####):
Informa

PLC

51,603

570,667

#### 570,667

#### Consumer

#### Discretionary

#### (#### 0.3%

####):
Next

PLC

2,393

408,549

#### 408,549

#### Consumer

#### Staples

#### (#### 0.4%

####):
Haleon

PLC

112,844

579,823

#### 579,823

#### Financials

#### (#### 1.9%

####):
3i

Group

PLC

7,838

443,183

Admiral

Group

PLC

10,551

473,503

Legal

&

General

Group

PLC

153,181

535,235

Lloyds

Banking

Group

PLC

401,344

422,467

London

Stock

Exchange

Group

PLC

3,613

527,335

Wise

PLC,

Class

A(a)

25,807

368,343

#### 2,770,066

#### Health

#### Care

#### (#### 0.3%

####):
Smith

&

Nephew

PLC

28,241

431,376

#### 431,376

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### United

#### Kingdom

#### (5.9%):
(continued)

#### Industrials

#### (#### 1.2%

####):
Ashtead

Group

PLC

5,854

375,109

Bunzl

PLC

11,449

364,533

International

Consolidated

Airlines

Group

SA

95,351

446,494

Rentokil

Initial

PLC

57,934

279,950

Rolls-Royce

Holdings

PLC

29,093

386,336

#### 1,852,422

#### Information

#### Technology

#### (#### 0.6%

####):
Halma

PLC

12,265

538,640

The

Sage

Group

PLC

22,740

390,261

#### 928,901

#### Materials

#### (#### 0.4%

####):
Anglogold

Ashanti

PLC

4,519

205,931

Rio

Tinto

PLC

7,288

424,587

#### 630,518

#### Utilities

#### (#### 0.4%

####):
SSE

PLC

23,385

587,634

#### 587,634

#### 8,759,956

#### United

#### States

#### (#### 0.3%

####):

#### Industrials

#### (#### 0.3%

####):
RB

Global,

Inc.

4,267

453,369

#### 453,369

#### Total

#### Common

#### Stocks

#### (Cost

#### $116,706,104)

#### 146,692,713

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Warrant

#### (0.0%)

#### Canada

#### (#### 0.0%

####):

#### Information

#### Technology

#### (#### 0.0%

####):
Constellation

Software,

Inc.,

expiring 3/31/40

(a)(c) 141

—

#### —

#### Total

#### Warrant

#### (Cost

#### $–)

#### —

#### Total

#### Investments

#### (Cost

#### $

#### 116,706,104

####)—

#### 99.0%

#### 146,692,713

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 1.0%

#### 1,481,881

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 148,174,594
(a) Non-income

producing

security.

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### International

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Security

#### Name

#### Acquisition

#### Date
Cost

Evraz

PLC

12/4/2019

$

247,473

(b) The

following

table

details

the

earliest

acquisition

date

and

cost

of

the

Fund's

restricted

securities

due

to

trading

restrictions

at

June

30,

2025. (c) Security

was

fair

valued

based

upon

procedures

approved

by

the

Board

of

Trustees

and

represents

0.00%

of

the

Fund's

net

asset

as

of

June

30,

2025. This

security

is

classified

as

Level

within

the

fair

value

hierarchy.

#### Futures

#### Contracts

#### Long

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

Mini

MSCI

EAFE

Index

9/19/25

$

922,689

$

938,595

$

15,906

$

15,906

#### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.6%)

#### Communication

#### Services

#### (#### 0

#### .3

#### %

####):
Ralliant

Corp.(a)

17,569

The

Trade

Desk,

Inc.,

Class

A(a)

543

39,091

#### 56,660

#### Consumer

#### Discretionary

#### (#### 7

#### .0

#### %

####):
Aptiv

PLC(a)

931

63,513

CarMax,

Inc.(a)

761

51,147

Carvana

Co.(a)

38,077

Chewy,

Inc.,

Class

A(a)

1,009

43,004

Chipotle

Mexican

Grill,

Inc.(a)

1,015

56,992

Coupang,

Inc.(a)

2,101

62,946

D.R.

Horton,

Inc.

52,084

Deckers

Outdoor

Corp.(a)

33,395

Domino's

Pizza,

Inc.

47,313

Dutch

Bros,

Inc.,

Class

A(a)

27,348

Garmin

Ltd.

44,875

Genuine

Parts

Co.

49,373

Lennar

Corp.,

Class

A

53,756

NVR,

Inc.(a)

66,471

O'Reilly

Automotive,

Inc.(a)

891

80,306

Pool

Corp.

49,552

PulteGroup,

Inc.

531

55,999

Ross

Stores,

Inc.

62,259

Service

Corp.

International

820

66,748

Somnigroup

International,

Inc.

844

57,434

Tesla,

Inc.(a)

27,636

Texas

Roadhouse,

Inc.

71,403

Tractor

Supply

Co.

1,111

58,627

#### 1,220,258

#### Consumer

#### Staples

#### (#### 4

#### .7

#### %

####):
BJ's

Wholesale

Club

Holdings,

Inc.(a)

47,984

Casey's

General

Stores,

Inc.

64,294

Coca-Cola

Consolidated,

Inc.

40,417

Costco

Wholesale

Corp.

78,205

Dollar

General

Corp.

41,406

Hormel

Foods

Corp.

2,359

71,360

Kenvue,

Inc.

2,632

55,088

Kimberly-Clark

Corp.

618

79,673

McCormick

&

Co.,

Inc.

1,072

81,279

Sprouts

Farmers

Market,

Inc.(a)

41,654

Sysco

Corp.

1,087

82,329

The

Campbell's

Co.

1,677

51,400

U.S.

Foods

Holding

Corp.(a)

1,138

87,637

#### 822,726

#### Energy

#### (#### 7

#### .0

#### %

####):
Antero

Resources

Corp.(a)

1,150

46,322

Baker

Hughes

Co.

1,377

52,794

Cheniere

Energy,

Inc.

64,776

ConocoPhillips

Co.

697

62,549

Coterra

Energy,

Inc.

2,398

60,861

Devon

Energy

Corp.

1,840

58,531

Diamondback

Energy,

Inc.

54,411

EOG

Resources,

Inc.

603

72,125

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Energy

#### (7.0%):
(continued)

EQT

Corp.

872

50,855

Halliburton

Co.

2,448

49,890

Kinder

Morgan,

Inc.

2,437

71,648

Occidental

Petroleum

Corp.

1,657

69,611

ONEOK,

Inc.

732

59,753

Ovintiv,

Inc.

1,346

51,215

Permian

Resources

Corp.

4,250

57,885

Phillips

Co.

574

68,478

Schlumberger

NV

1,623

54,857

Targa

Resources

Corp.

56,576

Texas

Pacific

Land

Corp.

27,466

The

Williams

Cos.,

Inc.

1,100

69,091

Valero

Energy

Corp.

60,220

#### 1,219,914

#### Financials

#### (#### 13

#### .9

#### %

####):
Aflac,

Inc.

729

76,880

Arch

Capital

Group

Ltd.

681

62,005

Ares

Management

Corp.,

Class

A

60,274

Arthur

J. Gallagher

&

Co.

77,789

Blue

Owl

Capital,

Inc.

2,391

45,931

Brown

&

Brown,

Inc.

730

80,935

Cboe

Global

Markets,

Inc.

76,959

Cincinnati

Financial

Corp.

523

77,885

CME

Group,

Inc.

98,947

Coinbase

Global,

Inc.,

Class

A(a)

35,750

Corebridge

Financial,

Inc.

1,768

62,764

East

West

Bancorp,

Inc.

707

71,393

Equitable

Holdings,

Inc.

1,058

59,354

Everest

Group

Ltd.

61,513

Fidelity

National

Information

Services,

Inc.

916

74,571

First

Citizens

BancShares,

Inc.,

Class

A

46,955

Global

Payments,

Inc.

623

49,865

Houlihan

Lokey,

Inc.

69,281

Interactive

Brokers

Group,

Inc.

943

52,252

Intercontinental

Exchange,

Inc.

606

111,183

Jack

Henry

&

Associates,

Inc.

83,238

Jefferies

Financial

Group,

Inc.

1,033

56,495

LPL

Financial

Holdings,

Inc.

50,621

Markel

Group,

Inc.(a)

75,900

Morningstar,

Inc.

85,075

MSCI,

Inc.

73,823

Nasdaq,

Inc.

1,065

95,232

Principal

Financial

Group,

Inc.

928

73,711

Reinsurance

Group

of

America,

Inc.

61,690

RenaissanceRe

Holdings

Ltd.

58,782

Rocket

Cos.,

Inc.,

Class

A

2,437

34,557

Ryan

Specialty

Holdings,

Inc.

807

54,868

SoFi

Technologies,

Inc.(a)

2,514

45,780

The

Progressive

Corp.

66,982

Tradeweb

Markets,

Inc.,

Class

A

572

83,741

W.R.

Berkley

Corp.

962

70,678

#### 2,423,659

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Health

#### Care

#### (#### 11

#### .0

#### %

####):
Agilent

Technologies,

Inc.

615

72,576

Align

Technology,

Inc.(a)

48,090

Avantor,

Inc.(a)

2,823

37,998

BioMarin

Pharmaceutical,

Inc.(a)

837

46,010

Centene

Corp.(a)

726

39,407

Danaher

Corp.

67,954

DaVita,

Inc.(a)

44,729

Dexcom,

Inc.(a)

34,480

Doximity,

Inc.,

Class

A(a)

21,714

Edwards

Lifesciences

Corp.(a)

502

39,262

GE

HealthCare

Technologies,

Inc.

1,071

79,329

Globus

Medical,

Inc.(a)

814

48,042

HCA

Healthcare,

Inc.

65,893

Humana,

Inc.

30,071

IDEXX

Laboratories,

Inc.(a)

72,942

Incyte

Corp.(a)

804

54,752

Insulet

Corp.(a)

59,694

Intuitive

Surgical,

Inc.(a)

55,971

IQVIA

Holdings,

Inc.(a)

58,308

Mettler-Toledo

International,

Inc.(a)

66,959

Neurocrine

Biosciences,

Inc.(a)

53,293

Quest

Diagnostics,

Inc.

80,295

ResMed,

Inc.

61,662

Revvity,

Inc.

556

53,776

Solventum

Corp.(a)

807

61,203

STERIS

PLC

89,122

Stryker

Corp.

89,808

Tenet

Healthcare

Corp.(a)

55,440

United

Therapeutics

Corp.(a)

50,286

Universal

Health

Services,

Inc.,

Class

B

50,722

Veeva

Systems,

Inc.,

Class

A(a)

65,948

Waters

Corp.(a)

47,819

West

Pharmaceutical

Services,

Inc.

26,912

Zoetis,

Inc.

71,893

#### 1,902,360

#### Industrials

#### (#### 23

#### .8

#### %

####):
AECOM

700

79,002

AMETEK,

Inc.

77,994

Axon

Enterprise,

Inc.(a)

36,429

Builders

FirstSource,

Inc.(a)

38,858

C.H.

Robinson

Worldwide,

Inc.

604

57,954

Carlisle

Cos.,

Inc.

54,890

Carrier

Global

Corp.

929

67,993

Caterpillar,

Inc.

73,760

Cintas

Corp.

67,752

Clean

Harbors,

Inc.(a)

61,725

Comfort

Systems

USA,

Inc.

40,752

Copart,

Inc.(a)

1,092

53,584

CSX

Corp.

2,301

75,082

Curtiss-Wright

Corp.

72,794

Deere

&

Co.

64,578

Dover

Corp.

74,941

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Industrials

#### (23.8%):
(continued)

EMCOR

Group,

Inc.

51,884

Equifax,

Inc.

69,252

Expeditors

International

of

Washington,

Inc.

711

81,232

Fastenal

Co.

1,608

67,536

Fortive

Corp.

1,087

56,665

GE

Vernova,

Inc.

44,449

General

Dynamics

Corp.

79,040

Graco,

Inc.

1,005

86,400

HEICO

Corp.

71,176

Howmet

Aerospace,

Inc.

64,029

Hubbell,

Inc.

55,952

IDEX

Corp.

65,488

Illinois

Tool

Works,

Inc.

90,246

Ingersoll

Rand,

Inc.

771

64,132

ITT,

Inc.

69,946

J.B.

Hunt

Transport

Services,

Inc.

60,886

Lennox

International,

Inc.

52,165

Lincoln

Electric

Holdings,

Inc.

58,464

Masco

Corp.

1,059

68,157

Norfolk

Southern

Corp.

66,040

Old

Dominion

Freight

Line,

Inc.

48,528

Otis

Worldwide

Corp.

864

85,553

PACCAR,

Inc.

602

57,226

Parker-Hannifin

Corp.

67,053

Paychex,

Inc.

525

76,366

Paycom

Software,

Inc.

42,578

Paylocity

Holding

Corp.(a)

48,197

Quanta

Services,

Inc.

51,419

Republic

Services,

Inc.

93,958

Rockwell

Automation,

Inc.

69,424

Rollins,

Inc.

1,359

76,675

Snap-on,

Inc.

64,103

SS&C

Technologies

Holdings,

Inc.

960

79,488

Textron,

Inc.

995

79,889

Trane

Technologies

PLC

76,547

TransDigm

Group,

Inc.

68,429

TransUnion

656

57,728

U-Haul

Holding

Co.

1,162

63,178

Union

Pacific

Corp.

78,687

United

Rentals,

Inc.

56,505

Verisk

Analytics,

Inc.

85,351

Vertiv

Holdings

Co.,

Class

A

40,192

W.W.

Grainger,

Inc.

73,857

Waste

Management,

Inc.

78,714

Watsco,

Inc.

46,812

Westinghouse

Air

Brake

Technologies

Corp.

77,459

Xylem,

Inc.

619

80,074

#### 4,145,217

#### Information

#### Technology

#### (#### 15

#### .7

#### %

####):
Akamai

Technologies,

Inc.(a)

523

41,714

Amphenol

Corp.,

Class

A

658

64,978

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Information

#### Technology

#### (15.7%):
(continued)

Analog

Devices,

Inc.

60,219

AppLovin

Corp.,

Class

A(a)

22,405

Arista

Networks,

Inc.(a)

42,254

Bentley

Systems,

Inc.,

Class

B

1,373

74,101

Broadcom,

Inc.

37,764

Cadence

Design

Systems,

Inc.(a)

45,606

CDW

Corp.

66,257

Ciena

Corp.(a)

506

41,153

Cognizant

Technology

Solutions

Corp.,

Class

A

1,061

82,790

Corpay,

Inc.(a)

65,369

Datadog,

Inc.,

Class

A(a)

58,434

Docusign,

Inc.(a)

32,870

Dynatrace,

Inc.(a)

1,150

63,492

Entegris,

Inc.

513

41,373

EPAM

Systems,

Inc.(a)

48,979

F5,

Inc.(a)

57,392

Fair

Isaac

Corp.(a)

51,183

First

Solar,

Inc.(a)

39,895

Fortinet,

Inc.(a)

41,654

Gartner,

Inc.(a)

69,526

Jabil,

Inc.

74,372

Keysight

Technologies,

Inc.(a)

56,368

KLA

Corp.

45,683

Microchip

Technology,

Inc.

916

64,459

Monolithic

Power

Systems,

Inc.

33,643

Motorola

Solutions,

Inc.

79,887

NetApp,

Inc.

537

57,217

NVIDIA

Corp.

39,655

NXP

Semiconductors

NV

51,564

Okta,

Inc.(a)

31,690

ON

Semiconductor

Corp.(a)

894

46,855

Palantir

Technologies,

Inc.,

Class

A(a)

33,126

Palo

Alto

Networks,

Inc.(a)

57,095

PTC,

Inc.(a)

78,070

Roper

Technologies,

Inc.

78,791

Seagate

Technology

Holdings

PLC

693

100,021

ServiceNow,

Inc.(a)

57,572

Super

Micro

Computer,

Inc.(a)

19,212

Synopsys,

Inc.(a)

48,705

TD

SYNNEX

Corp.

500

67,850

Teledyne

Technologies,

Inc.(a)

84,019

Teradyne,

Inc.

37,676

Texas

Instruments,

Inc.

69,137

Trimble,

Inc.(a)

847

64,355

Tyler

Technologies,

Inc.(a)

65,805

Western

Digital

Corp.

1,080

69,109

Zebra

Technologies

Corp.(a)

73,698

#### 2,735,042

#### Materials

#### (#### 6

#### .9

#### %

####):
Avery

Dennison

Corp.

78,610

CF

Industries

Holdings,

Inc.

703

64,676

Freeport-McMoRan,

Inc.

1,257

54,491

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Materials

#### (6.9%):
(continued)

International

Flavors

&

Fragrances,

Inc.

918

67,519

International

Paper

Co.

1,123

52,590

Linde

PLC

114,480

LyondellBasell

Industries

NV,

Class

A

1,302

75,334

Martin

Marietta

Materials,

Inc.

69,718

Newmont

Corp.

851

49,579

Nucor

Corp.

48,448

Packaging

Corp.

of

America

71,234

PPG

Industries,

Inc.

725

82,469

Reliance,

Inc.

63,722

RPM

International,

Inc.

658

72,275

Steel

Dynamics,

Inc.

47,108

The

Sherwin-Williams

Co.

70,732

Vulcan

Materials

Co.

62,857

Westlake

Corp.

670

50,873

#### 1,196,715

#### Real

#### Estate

#### (#### 0

#### .4

#### %

####):
CoStar

Group,

Inc.(a)

721

57,968

#### 57,968

#### Utilities

#### (#### 8

#### .9

#### %

####):
Alliant

Energy

Corp.

1,467

88,710

Ameren

Corp.

888

85,284

American

Electric

Power

Co.,

Inc.

798

82,801

American

Water

Works

Co.,

Inc.

66,216

Atmos

Energy

Corp.

655

100,942

CenterPoint

Energy,

Inc.

2,034

74,729

CMS

Energy

Corp.

1,366

94,636

Consolidated

Edison,

Inc.

746

74,861

Constellation

Energy

Corp.

34,858

DTE

Energy

Co.

722

95,636

Entergy

Corp.

687

57,103

Evergy,

Inc.

1,631

112,425

Eversource

Energy

1,217

77,426

NextEra

Energy,

Inc.

902

62,617

NiSource,

Inc.

2,432

98,107

NRG

Energy,

Inc.

57,488

Public

Service

Enterprise

Group,

Inc.

865

72,816

The

Southern

Co.

945

86,779

Vistra

Corp.

36,242

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025. #### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Utilities

#### (8.9%):
(continued)

WEC

Energy

Group,

Inc.

866

90,237

#### 1,549,913

#### Total

#### Common

#### Stocks

#### (Cost

#### $16,553,605)

#### 17,330,432

#### Investment

#### Companies

#### (0.4%)
Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.17%(b)

62,460

62,460

#### Total

#### Investment

#### Companies

#### (Cost

#### $62,460)

#### 62,460

#### Total

#### Investments

#### (Cost

#### $16,616,065)

#### —

#### 100.0%

#### 17,392,892

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 0.0%

#### 7,476

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 17,400,368
(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

7-Day

effective

yield

on

June

30,

2025. #### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (99.4%)

#### Consumer

#### Discretionary

#### (#### 5

#### .1

#### %

####):
Genuine

Parts

Co.

1,478

179,296

Lennar

Corp.,

Class

A

1,776

196,443

Pool

Corp.

618

180,135

Service

Corp.

International

2,984

242,898

Texas

Roadhouse,

Inc.

1,382

259,001

Tractor

Supply

Co.

4,039

213,138

#### 1,270,911

#### Consumer

#### Staples

#### (#### 6

#### .7

#### %

####):
Dollar

General

Corp.

1,320

150,982

Hormel

Foods

Corp.

8,595

259,999

Kenvue,

Inc.

9,590

200,719

Kimberly-Clark

Corp.

2,243

289,167

McCormick

&

Co.,

Inc.

3,910

296,456

Sysco

Corp.

3,966

300,385

The

Campbell's

Co.

6,107

187,179

#### 1,684,887

#### Energy

#### (#### 14

#### .1

#### %

####):
Baker

Hughes

Co.

5,016

192,313

ConocoPhillips

Co.

2,545

228,388

Coterra

Energy,

Inc.

8,741

221,847

Devon

Energy

Corp.

6,692

212,872

Diamondback

Energy,

Inc.

1,450

199,230

EOG

Resources,

Inc.

2,190

261,946

Halliburton

Co.

8,923

181,851

Kinder

Morgan,

Inc.

8,879

261,043

Occidental

Petroleum

Corp.

6,027

253,194

ONEOK,

Inc.

2,673

218,197

Ovintiv,

Inc.

4,910

186,825

Permian

Resources

Corp.

15,477

210,797

Phillips

Co.

2,089

249,218

Schlumberger

NV

5,911

199,792

The

Williams

Cos.,

Inc.

3,998

251,114

Valero

Energy

Corp.

1,623

218,164

#### 3,546,791

#### Financials

#### (#### 13

#### .7

#### %

####):
Aflac,

Inc.

2,652

279,680

Ares

Management

Corp.,

Class

A

1,271

220,137

Blue

Owl

Capital,

Inc.

8,709

167,300

Cincinnati

Financial

Corp.

1,900

282,948

CME

Group,

Inc.

1,313

361,889

Corebridge

Financial,

Inc.

6,439

228,584

East

West

Bancorp,

Inc.

2,569

259,418

Equitable

Holdings,

Inc.

3,847

215,817

Everest

Group

Ltd.

660

224,301

Fidelity

National

Information

Services,

Inc.

3,342

272,072

Jefferies

Financial

Group,

Inc.

3,753

205,251

Principal

Financial

Group,

Inc.

3,388

269,109

Reinsurance

Group

of

America,

Inc.

1,134

224,940

The

Progressive

Corp.

924

246,579

#### 3,458,025

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Health

#### Care

#### (#### 1

#### .2

#### %

####):
Quest

Diagnostics,

Inc.

1,635

293,695

#### 293,695

#### Industrials

#### (#### 17

#### .1

#### %

####):
C.H.

Robinson

Worldwide,

Inc.

2,209

211,954

Caterpillar,

Inc.

697

270,582

CSX

Corp.

8,379

273,407

Fastenal

Co.

5,859

246,078

General

Dynamics

Corp.

990

288,744

Hubbell,

Inc.

508

207,472

IDEX

Corp.

1,363

239,302

Illinois

Tool

Works,

Inc.

1,329

328,595

Lincoln

Electric

Holdings,

Inc.

1,030

213,540

Masco

Corp.

3,867

248,880

Norfolk

Southern

Corp.

941

240,868

Otis

Worldwide

Corp.

3,153

312,210

Paychex,

Inc.

1,920

279,283

Rockwell

Automation,

Inc.

760

252,449

Snap-on,

Inc.

751

233,696

Union

Pacific

Corp.

1,253

288,290

Watsco,

Inc.

169,582

#### 4,304,932

#### Information

#### Technology

#### (#### 8

#### .9

#### %

####):
Analog

Devices,

Inc.

914

217,550

CDW

Corp.

1,344

240,025

Cognizant

Technology

Solutions

Corp.,

Class

A

3,870

301,976

Microchip

Technology,

Inc.

3,329

234,262

NetApp,

Inc.

1,950

207,772

NXP

Semiconductors

NV

855

186,809

Seagate

Technology

Holdings

PLC

2,533

365,588

TD

SYNNEX

Corp.

1,814

246,160

Texas

Instruments,

Inc.

1,206

250,390

#### 2,250,532

#### Materials

#### (#### 11

#### .2

#### %

####):
Avery

Dennison

Corp.

1,641

287,946

CF

Industries

Holdings,

Inc.

2,559

235,428

International

Flavors

&

Fragrances,

Inc.

3,335

245,289

International

Paper

Co.

4,097

191,862

LyondellBasell

Industries

NV,

Class

A

4,739

274,199

Newmont

Corp.

3,090

180,023

Nucor

Corp.

1,366

176,952

Packaging

Corp.

of

America

1,376

259,307

PPG

Industries,

Inc.

2,644

300,755

Reliance,

Inc.

731

229,461

RPM

International,

Inc.

2,403

263,946

Westlake

Corp.

2,433

184,738

#### 2,829,906

#### Utilities

#### (#### 21

#### .4

#### %

####):
Alliant

Energy

Corp.

5,344

323,152

Ameren

Corp.

3,243

311,458

American

Electric

Power

Co.,

Inc.

2,900

300,904

American

Water

Works

Co.,

Inc.

1,739

241,912

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025

.

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Utilities

#### (21.4%):
(continued)

Atmos

Energy

Corp.

2,379

366,628

CenterPoint

Energy,

Inc.

7,412

272,317

CMS

Energy

Corp.

4,972

344,460

Consolidated

Edison,

Inc.

2,726

273,554

DTE

Energy

Co.

2,637

349,297

Entergy

Corp.

2,505

208,216

Evergy,

Inc.

5,930

408,755

Eversource

Energy

4,423

281,391

NextEra

Energy,

Inc.

3,292

228,531

NiSource,

Inc.

8,854

357,170

NRG

Energy,

Inc.

1,312

210,681

Public

Service

Enterprise

Group,

Inc.

3,158

265,840

The

Southern

Co.

3,448

316,630

WEC

Energy

Group,

Inc.

3,146

327,813

#### 5,388,709

#### Total

#### Common

#### Stocks

#### (Cost

#### $24,147,237)

#### 25,028,388

#### Investment

#### Companies

#### (0.5%)
Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.17%(a)

113,855

113,855

#### Total

#### Investment

#### Companies

#### (Cost

#### $113,855)

#### 113,855

#### Total

#### Investments

#### (Cost

#### $24,261,092)

#### —

#### 99.9%

#### 25,142,243

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 0.1%

#### 18,767

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 25,161,010
(a) Rate

disclosed

is

the

7-Day

effective

yield

on

June

30,

2025. #### Schedule

#### of

#### Portfolio

#### Investments
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Common

#### Stocks

#### (91.4%)

#### Communication

#### Services

#### (#### 3

#### .1

#### %

####):
Cable

One,

Inc.

27,026

Gray

Television,

Inc.

22,030

99,796

Infrastrutture

Wireless

Italiane

SpA

5,211

63,708

John

Wiley

&

Sons,

Inc.,

Class

A

1,669

74,488

LG

Uplus

Corp.

4,167

44,162

Playtika

Holding

Corp.

6,758

31,965

SK

Telecom

Co.

Ltd.

1,184

49,754

Tele2

AB,

Class

B

Shares

16,371

239,324

Telenor

ASA

16,179

251,640

Telstra

Group

Ltd.

27,144

86,446

#### 968,309

#### Consumer

#### Discretionary

#### (#### 7

#### .7

#### %

####):
Barratt

Redrow

PLC

21,502

134,533

Bloomin'

Brands,

Inc.

5,144

44,290

Canadian

Tire

Corp.

Ltd.,

Class

A

47,927

Carter's,

Inc.

1,604

48,328

Designer

Brands,

Inc.,

Class

A

19,084

45,420

Dillard's,

Inc.,

Class

A

50,557

Dine

Brands

Global,

Inc.

3,214

78,197

Ethan

Allen

Interiors,

Inc.

3,346

93,186

Garmin

Ltd.

73,052

H&R

Block,

Inc.

1,694

92,984

Harley-Davidson,

Inc.

1,775

41,890

Haverty

Furniture

Cos.,

Inc.

3,183

64,774

Jack

in

the

Box,

Inc.

1,597

27,884

LCI

Industries

864

78,788

Lear

Corp.

771

73,230

LKQ

Corp.

1,672

61,881

Magna

International,

Inc.

2,071

80,066

Monro,

Inc.

4,375

65,231

Movado

Group,

Inc.

5,118

78,049

Newell

Brands,

Inc.

4,652

25,121

Oxford

Industries,

Inc.

985

39,646

Papa

John's

International,

Inc.

2,032

99,446

Persimmon

PLC

2,605

46,333

Polaris,

Inc.

1,057

42,967

Porsche

Automobil

Holding

SE,

Preference

Shares

4,992

198,083

Smith

&

Wesson

Brands,

Inc.

7,782

67,548

Stellantis

NV

6,424

64,381

Strategic

Education,

Inc.

892

75,936

Taylor

Wimpey

PLC

76,617

124,865

The

Buckle,

Inc.

1,884

85,439

The

Wendy's

Co.

5,450

62,239

Upbound

Group,

Inc.

3,481

87,373

Vail

Resorts,

Inc.

54,524

#### 2,354,168

#### Consumer

#### Staples

#### (#### 5

#### .9

#### %

####):
B&G

Foods,

Inc.

14,190

60,024

Bunge

Global

SA

981

78,755

Calavo

Growers,

Inc.

1,879

49,963

Cal-Maine

Foods,

Inc.

1,196

119,157

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Consumer

#### Staples

#### (5.9%):
(continued)

Dollar

General

Corp.

785

89,788

Energizer

Holdings,

Inc.

4,588

92,494

Flowers

Foods,

Inc.

6,564

104,893

Fresh

Del

Monte

Produce,

Inc.

2,972

96,352

Hormel

Foods

Corp.

1,949

58,957

Ingredion,

Inc.

796

107,954

J

Sainsbury

PLC

31,241

124,252

Kenvue,

Inc.

2,926

61,241

Kesko

Oyj,

Class

B

3,654

90,119

Nu

Skin

Enterprises,

Inc.,

Class

A

13,703

109,487

Reynolds

Consumer

Products,

Inc.

5,753

123,229

Salmar

ASA

996

43,182

SpartanNash

Co.

6,001

158,967

The

Campbell's

Co.

2,446

74,970

The

J.M.

Smucker

Co.

1,025

100,655

WK

Kellogg

Co.

4,030

64,238

#### 1,808,677

#### Energy

#### (#### 15

#### .5

#### %

####):
Aker

BP

ASA

5,500

140,736

Antero

Midstream

Corp.

10,765

203,997

APA

Corp.

3,229

59,058

Ardmore

Shipping

Corp.

4,965

47,664

Berry

Corp.

26,815

74,278

Chord

Energy

Corp.

720

69,732

Civitas

Resources,

Inc.

2,555

70,314

Coterra

Energy,

Inc.

4,071

103,322

Crescent

Energy

Co.,

Class

A

7,554

64,964

Devon

Energy

Corp.

1,782

56,685

DHT

Holdings,

Inc.

10,563

114,186

DT

Midstream,

Inc.

1,686

185,308

Eni

SpA

7,869

127,529

Equinor

ASA

3,932

99,560

FLEX

LNG

Ltd.

4,909

107,900

FutureFuel

Corp.

14,759

57,265

Golar

LNG

Ltd.

917

37,771

Granite

Ridge

Resources,

Inc.

9,420

60,005

HD

Hyundai

Co.

Ltd.

1,494

143,388

Helmerich

&

Payne,

Inc.

3,280

49,725

HF

Sinclair

Corp.

1,823

74,889

Keyera

Corp.

6,628

216,812

Kinder

Morgan,

Inc.

6,190

181,986

Kinetik

Holdings,

Inc.

2,801

123,384

Noble

Corp.

PLC

5,149

136,706

Nordic

American

Tankers

Ltd.

53,306

140,195

Northern

Oil

&

Gas,

Inc.

2,725

77,254

OMV

AG

2,590

140,872

ONEOK,

Inc.

1,420

115,915

Ovintiv,

Inc.

1,273

48,438

Pembina

Pipeline

Corp.

5,155

193,577

Phillips

Co.

683

81,482

Repsol

SA

8,094

118,544

Riley

Exploration

Permian,

Inc.

2,357

61,824

Santos

Ltd.

14,026

70,695

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Energy

#### (15.5%):
(continued)

Scorpio

Tankers,

Inc.

1,713

67,030

SFL

Corp.

Ltd.

13,738

114,438

Sitio

Royalties

Corp.,

Class

A

6,088

111,897

Suncor

Energy,

Inc.

873

32,705

TC

Energy

Corp.

3,535

172,596

Tenaris

SA

3,803

71,555

The

Williams

Cos.,

Inc.

2,509

157,590

TotalEnergies

SE

908

55,718

VAALCO

Energy,

Inc.

19,736

71,247

Valero

Energy

Corp.

663

89,120

Vitesse

Energy,

Inc.

4,790

105,811

Woodside

Energy

Group

Ltd.

3,996

62,132

#### 4,767,799

#### Financials

#### (#### 21

#### .6

#### %

####):
ABN

AMRO

Bank

NV

6,024

164,889

Ageas

SA

2,549

172,177

A-Mark

Precious

Metals,

Inc.

2,015

44,693

ANZ

Group

Holdings

Ltd.

10,129

194,347

Artisan

Partners

Asset

Management,

Inc.,

Class

A

3,751

166,282

Axis

Capital

Holdings

Ltd.

721

74,854

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

2,502

100,831

Bank

of

Hawaii

Corp.

881

59,494

Bank

OZK

2,063

97,085

BankUnited,

Inc.

2,032

72,319

Blue

Owl

Capital,

Inc.

1,957

37,594

Columbia

Banking

System,

Inc.

2,575

60,203

Credit

Agricole

SA

4,287

81,116

First

American

Financial

Corp.

27,196

First

Bancorp

Puerto

Rico

3,542

73,780

First

Busey

Corp.

2,190

50,118

First

Financial

Bancorp

3,803

92,261

First

Hawaiian,

Inc.

3,202

79,922

First

Interstate

BancSystem,

Inc.,

Class

A

3,652

105,251

FNB

Corp.

11,161

162,727

Generali

1,562

55,578

Glacier

Bancorp,

Inc.

1,388

59,795

Great-West

Lifeco,

Inc.

1,885

71,698

HA

Sustainable

Infrastructure

Capital,

Inc.

1,709

45,904

Hana

Financial

Group,

Inc.

1,357

86,792

Hanmi

Financial

Corp.

3,990

98,473

Hope

Bancorp,

Inc.

10,602

113,759

Industrial

Bank

of

Korea

5,175

70,033

Intesa

Sanpaolo

SpA

44,400

255,798

Invesco

Ltd.

5,597

88,265

Janus

Henderson

Group

PLC

4,201

163,167

Jefferies

Financial

Group,

Inc.

1,567

85,699

KBC

Group

NV

1,393

143,822

Lazard,

Inc.

2,112

101,334

Legal

&

General

Group

PLC

14,594

50,993

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Financials

#### (21.6%):
(continued)

MGIC

Investment

Corp.

1,431

39,839

Navient

Corp.

5,589

78,805

NH

Investment

&

Securities

Co.

Ltd.

1,960

29,038

NN

Group

NV

2,964

196,962

Northwest

Bancshares,

Inc.

12,024

153,667

OceanFirst

Financial

Corp.

3,394

59,768

Old

Republic

International

Corp.

4,898

188,279

OneMain

Holdings,

Inc.

2,520

143,640

Pacific

Premier

Bancorp,

Inc.

3,941

83,116

Patria

Investments

Ltd.,

Class

A

7,836

110,174

Popular,

Inc.

1,142

125,860

Poste

Italiane

SpA

4,305

92,485

Power

Corp.

of

Canada

5,483

214,190

Principal

Financial

Group,

Inc.

690

54,807

Prosperity

Bancshares,

Inc.

1,401

98,406

Safety

Insurance

Group,

Inc.

1,331

105,668

Schroders

PLC

7,071

35,071

Shinhan

Financial

Group

Co.

Ltd.

719

32,718

Societe

Generale

SA

1,172

67,018

Southside

Bancshares,

Inc.

2,992

88,055

Svenska

Handelsbanken

AB,

Class

A

4,626

61,854

Swedbank

AB,

Class

A

1,572

41,640

Swiss

Re

AG

1,061

183,478

Synovus

Financial

Corp.

1,779

92,063

TFS

Financial

Corp.

4,547

58,884

The

Bank

of

NT

Butterfield

&

Son

Ltd.

4,404

195,009

The

Western

Union

Co.

10,088

84,941

UWM

Holdings

Corp.

4,587

18,990

Valley

National

Bancorp

7,115

63,537

Virtus

Investment

Partners,

Inc.

60,043

WesBanco,

Inc.

2,511

79,423

Westpac

Banking

Corp.

5,637

125,591

Woori

Financial

Group,

Inc.

6,199

103,140

XP,

Inc.,

Class

A

2,359

47,652

#### 6,622,060

#### Health

#### Care

#### (#### 1

#### .1

#### %

####):
Baxter

International,

Inc.

2,447

74,095

Embecta

Corp.

1,813

17,568

Ono

Pharmaceutical

Co.

Ltd.

12,300

133,174

Premier,

Inc.,

Class

A

4,611

101,119

#### 325,956

#### Industrials

#### (#### 9

#### .1

#### %

####):
ACCO

Brands

Corp.

9,047

32,388

ACS

Actividades

de

Construccion

y

Servicios

SA

3,783

262,659

Adecco

Group

AG

2,948

87,648

AGCO

Corp.

1,001

103,263

Bouygues

SA

4,916

222,339

CNH

Industrial

NV

5,682

73,639

Concentrix

Corp.

819

43,288

Costamare

Bulkers

Holdings

Ltd.(a)

1,428

12,381

Costamare,

Inc.

7,145

65,091

Deluxe

Corp.

5,855

93,153

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Industrials

#### (9.1%):
(continued)

Deutsche

Post

AG

1,985

91,670

Doosan

Bobcat,

Inc.

938

40,459

Douglas

Dynamics,

Inc.

2,860

84,284

Eiffage

SA

59,412

Ennis,

Inc.

3,155

57,232

Genco

Shipping

&

Trading

Ltd.

6,394

83,570

Golden

Ocean

Group

Ltd.

8,843

64,731

GS

Holdings

Corp.

2,202

76,131

HNI

Corp.

2,046

100,622

Insteel

Industries,

Inc.

2,185

81,304

Komatsu

Ltd.

1,600

52,637

Kuehne

+

Nagel

International

AG,

Class

R

95,445

ManpowerGroup,

Inc.

1,148

46,379

Matthews

International

Corp.,

Class

A

3,939

94,182

MSC

Industrial

Direct

Co.,

Inc.

892

75,838

National

Presto

Industries,

Inc.

1,179

115,495

Paychex,

Inc.

46,547

Randstad

NV

1,437

66,346

Robert

Half,

Inc.

1,355

55,623

Ryder

System,

Inc.

67,098

Teleperformance

SE

30,444

Transurban

Group

6,309

58,035

Trinity

Industries,

Inc.

3,537

95,534

Vinci

SA

44,056

Volvo

AB,

Class

B

1,682

47,203

Watsco,

Inc.

53,878

#### 2,780,004

#### Materials

#### (#### 8

#### .2

#### %

####):
Amcor

PLC

9,100

83,629

Anglo

American

PLC

923

27,235

Ardagh

Metal

Packaging

SA

28,344

121,312

Arkema

SA

1,263

93,047

BHP

Group

Ltd.

3,087

74,648

Boliden

AB(a)

2,731

85,219

CRH

PLC

871

79,958

Eastman

Chemical

Co.

1,663

124,160

Evonik

Industries

AG

8,700

179,320

FMC

Corp.

917

38,285

Fortescue

Ltd.

6,003

60,356

International

Paper

Co.

1,229

57,554

JFE

Holdings,

Inc.

12,400

144,418

Kaiser

Aluminum

Corp.

1,146

91,565

LyondellBasell

Industries

NV,

Class

A

1,511

87,427

Mitsui

Chemicals,

Inc.

3,600

83,381

Myers

Industries,

Inc.

3,198

46,339

Newmont

Corp.

905

52,725

Nippon

Steel

Corp.

6,100

115,781

Norsk

Hydro

ASA

9,454

53,994

Nutrien

Ltd.

1,495

87,124

Packaging

Corp.

of

America

762

143,599

Rio

Tinto

PLC

1,196

69,677

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Materials

#### (8.2%):
(continued)

Sonoco

Products

Co.

2,392

104,196

Southern

Copper

Corp.

45,122

SunCoke

Energy,

Inc.

10,570

90,796

The

Mosaic

Co.

2,880

105,062

The

Scotts

Miracle-Gro

Co.

1,018

67,147

Tronox

Holdings

PLC

5,727

29,036

UPM-Kymmene

Oyj

3,129

85,352

Valterra

Platinum

Ltd.(a)

4,699

#### 2,532,163

#### Utilities

#### (#### 19

#### .2

#### %

####):
Alliant

Energy

Corp.

2,437

147,365

American

Electric

Power

Co.,

Inc.

660

68,482

APA

Group

8,908

47,888

Avista

Corp.

4,418

167,663

Black

Hills

Corp.

2,740

153,714

Canadian

Utilities

Ltd.,

Class

A

1,449

40,099

Clearway

Energy,

Inc.,

Class

C

2,118

67,776

CMS

Energy

Corp.

2,470

171,122

Consolidated

Edison,

Inc.

1,869

187,554

DTE

Energy

Co.

1,530

202,664

EDP

SA

31,768

137,767

Emera,

Inc.

4,827

221,143

Endesa

SA

2,600

82,345

Enel

SpA

26,582

252,220

Engie

SA

3,935

92,345

Entergy

Corp.

1,500

124,680

Evergy,

Inc.

2,132

146,959

Eversource

Energy

1,995

126,922

Fortum

Oyj

3,740

69,995

IDACORP,

Inc.

1,185

136,808

National

Fuel

Gas

Co.

1,219

103,262

New

Jersey

Resources

Corp.

2,497

111,916

NextEra

Energy,

Inc.

1,156

80,250

NiSource,

Inc.

4,569

184,313

Northwest

Natural

Holding

Co.

3,056

121,384

Northwestern

Energy

Group,

Inc.

3,386

173,702

OGE

Energy

Corp.

2,642

117,252

ONE

Gas,

Inc.

2,227

160,032

Origin

Energy

Ltd.

9,980

70,856

Pinnacle

West

Capital

Corp.

1,907

170,619

Portland

General

Electric

Co.

4,145

168,411

Public

Service

Enterprise

Group,

Inc.

857

72,142

Redeia

Corp.

SA

4,888

104,491

RWE

AG

1,886

78,702

SJW

Group

3,808

197,902

Snam

SpA

21,856

132,365

Southwest

Gas

Holdings,

Inc.

1,932

143,721

Spire,

Inc.

2,668

194,737

SSE

PLC

5,690

142,982

The

Southern

Co.

959

88,065

TXNM

Energy,

Inc.

3,988

224,604

UGI

Corp.

1,699

61,878

United

Utilities

Group

PLC

4,613

72,267

#### Schedule

#### of

#### Portfolio

#### Investments

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF
*See* 

*notes* 

*to* 

*financial* 

*statements.*

Percentages

indicated

are

based

on

net

assets

as

of

June

30,

2025

.

#### SECURITY

#### DESCRIPTION

#### SHARES

#### VALUE

#### ($)

#### Utilities

#### (19.2%):
(continued)

Veolia

Environnement

SA

4,146

147,716

WEC

Energy

Group,

Inc.

1,361

141,816

#### 5,910,896

#### Total

#### Common

#### Stocks

#### (Cost

#### $25,842,075)

#### 28,070,032

#### Total

#### Investments

#### (Cost

#### $25,842,075)

#### —

#### 91.4%

#### 28,070,032

#### Other

#### assets

#### in

#### excess

#### of

#### liabilities

#### —

#### 8.6%

#### 2,625,477

#### NET

#### ASSETS

#### -

#### 100.00%

#### $

#### 30,695,509
(a) Non-income

producing

security.

#### Futures

#### Contracts

#### Short

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

E-Mini

Russell

2000

Index

9/19/25

$

(6,778,768)

$

(7,013,440)

$

(234,672)

Mini

MSCI

EAFE

Index

9/19/25

(8,632,872)

(8,715,525)

(82,653)

S&P

500

Index

E-mini

9/19/25

(39,211,091)

(40,649,375)

(1,438,284)

$

(1,755,609)

#### Long

#### Futures

#### Index

#### Futures

#### Expiration

#### Date

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### Value

#### and

#### Unrealized

#### Appreciation/
(Depreciation)

NASDAQ

E-Mini

Future

Index

9/19/25

$

27,555,855

$

28,845,495

$

1,289,640

$

1,289,640

Total

Net

Futures

Contracts

$

(465,969)

#### Statements

#### of

#### Assets

#### and

#### Liabilities
June

30,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF

#### ASSETS:
Investments,

at

value

(Cost

$187,905,780

and

$263,774,072)

$

206,553,650

$

304,639,399

Foreign

currency,

at

value

(Cost

$447,290

and

$527,058)

447,290

527,058

Deposits

with

broker

for

futures

contracts

195,376

251,417

Interest

and

dividends

receivable

154,269

139,892

Receivable

for

capital

shares

issued

1,937,106

—

Variation

margin

receivable

on

open

futures

contracts

766

3,000

Total

Assets

209,288,457

305,560,766

#### LIABILITIES:
Payable

for

investments

purchased

1,931,984

—

Accrued

expenses

and

other

payables:

—

—

Investment

advisory

fees

86,154

129,564

Total

Liabilities

2,018,138

129,564

Net

Assets

207,270,319

305,431,202

#### NET

#### ASSETS

#### CONSIST

#### OF:
Capital

$

209,443,668

$

279,557,108

Total

distributable

earnings/(loss)

(2,173,349)

25,874,094

Net

Assets

$

207,270,319

$

305,431,202

Shares

Outstanding

(unlimited

shares

authorized,

no

par

value):

5,350,000

6,800,000

#### Net

#### asset

#### value

#### per

#### share:
$

38.74 $

44.92 #### Statements

#### of

#### Assets

#### and

#### Liabilities

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF

#### Timothy

#### Plan

#### International

#### ETF

#### ASSETS:
Investments,

at

value

(Cost

$281,286,736

and

$116,706,104)

$

299,722,717

$

146,692,713

Foreign

currency,

at

value

(Cost

$846,797

and

$811,379)

846,797

811,718

Deposits

with

broker

for

futures

contracts

115,569

53,655

Interest

and

dividends

receivable

284,825

152,917

Receivable

for

investments

sold

5,657,814

—

Variation

margin

receivable

on

open

futures

contracts

4,021

736

Reclaims

receivable

—

536,867

Total

Assets

306,631,743

148,248,606

#### LIABILITIES:
Payable

for

capital

shares

redeemed

5,675,983

—

Accrued

expenses

and

other

payables:

—

—

Investment

advisory

fees

128,667

74,012

Total

Liabilities

5,804,650

74,012

Net

Assets

300,827,093

148,174,594

#### NET

#### ASSETS

#### CONSIST

#### OF:
Capital

$

303,526,684

$

124,862,396

Total

distributable

earnings/(loss)

(2,699,591)

23,312,198

Net

Assets

$

300,827,093

$

148,174,594

Shares

Outstanding

(unlimited

shares

authorized,

no

par

value):

7,950,000

4,600,000

#### Net

#### asset

#### value

#### per

#### share:
$

37.84 $

32.21 #### Statements

#### of

#### Assets

#### and

#### Liabilities

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF

#### ASSETS:
Investments,

at

value

(Cost

$16,616,065

and

$24,261,092)

$

17,392,892

$

25,142,243

Deposits

with

broker

for

futures

contracts

6,747

Interest

and

dividends

receivable

8,546

30,019

Total

Assets

17,408,185

25,172,318

#### LIABILITIES:
Accrued

expenses

and

other

payables:

—

—

Investment

advisory

fees

7,817

11,308

Total

Liabilities

7,817

11,308

Net

Assets

17,400,368

25,161,010

#### NET

#### ASSETS

#### CONSIST

#### OF:
Capital

$

30,017,556

$

37,688,102

Total

distributable

earnings/(loss)

(12,617,188)

(12,527,092)

Net

Assets

$

17,400,368

$

25,161,010

Shares

Outstanding

(unlimited

shares

authorized,

no

par

value):

650,000

1,000,000

#### Net

#### asset

#### value

#### per

#### share:
$

26.77 $

25.16 #### Statements

#### of

#### Assets

#### and

#### Liabilities

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF

#### ASSETS:
Investments,

at

value

(Cost

$25,842,075)

$

28,070,032

Foreign

currency,

at

value

(Cost

$574,481)

574,524

Deposits

with

broker

for

futures

contracts

1,947,473

Interest

and

dividends

receivable

53,833

Variation

margin

receivable

on

open

futures

contracts

184,117

Reclaims

receivable

93,214

Total

Assets

30,923,193

#### LIABILITIES:
Variation

margin

payable

on

open

futures

contracts

211,218

Accrued

expenses

and

other

payables:

—

Investment

advisory

fees

16,466

Total

Liabilities

227,684

Net

Assets

30,695,509

#### NET

#### ASSETS

#### CONSIST

#### OF:
Capital

$

34,036,042

Total

distributable

earnings/(loss)

(3,340,533)

Net

Assets

$

30,695,509

Shares

Outstanding

(unlimited

shares

authorized,

no

par

value):

1,270,000

#### Net

#### asset

#### value

#### per

#### share:
$

24.17 #### Statements

#### of

#### Operations
For

the

Six

Months

Ended

June,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF

#### Investment

#### Income:
Dividend

income

$

1,600,828

$

2,056,669

Interest

income

2,847

5,192

Foreign

tax

withholding

(2,385)

(2,444)

Total

Income

1,601,290

2,059,417

#### Expenses:
Investment

advisory

fees

479,400

724,557

Total

Expenses

479,400

724,557

Net

Investment

Income

(Loss)

1,121,890

1,334,860

#### Realized/Unrealized

#### Gains
(Losses)

#### from

#### Investments:
Net

realized

gains

(losses)

from

investments

(3,269,346)

(1,527,627)

Net

realized

gains

(losses)

from

in-kind

transactions

2,529,891

14,328,561

Net

realized

gains

(losses)

from

futures

contracts

(142,128)

(96,717)

Net

change

in

unrealized

appreciation/depreciation

on

investments

and

foreign

currency

translations

453,587

6,839,574

Net

change

in

unrealized

appreciation/depreciation

on

futures

contracts

42,804

58,974

Net

realized/unrealized

gains/losses

on

investments

(385,192)

19,602,765

Change

in

net

assets

resulting

from

operations

$

736,698

$

20,937,625

#### Statements

#### of

#### Operations

#### -

#### continued
For

the

Six

Months

Ended

June,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF

#### Timothy

#### Plan

#### International

#### ETF

#### Investment

#### Income:
Dividend

income

$

3,598,781

$

2,859,920

Interest

income

5,974

Foreign

tax

withholding

(5,664)

(413,135)

Total

Income

3,599,091

2,447,245

#### Expenses:
Investment

advisory

fees

674,280

383,187

Total

Expenses

674,280

383,187

Net

Investment

Income

(Loss)

2,924,811

2,064,058

#### Realized/Unrealized

#### Gains
(Losses)

#### from

#### Investments:
Net

realized

gains

(losses)

from

investments

and

foreign

currency

transactions

(293,426)

2,565,472

Net

realized

gains

(losses)

from

in-kind

transactions

6,396,058

1,245,637

Net

realized

gains

(losses)

from

futures

contracts

(140,629)

59,296

Net

change

in

unrealized

appreciation/depreciation

on

investments

and

foreign

currency

translations

7,632,079

21,274,306

Net

change

in

unrealized

appreciation/depreciation

on

futures

contracts

53,957

28,415

Net

realized/unrealized

gains

on

investments

13,648,039

25,173,126

Change

in

net

assets

resulting

from

operations

$

16,572,850

$

27,237,184

#### Statements

#### of

#### Operations

#### -

#### continued
For

the

Six

Months

Ended

June,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF

#### Investment

#### Income:
Dividend

income

$

342,079

$

644,541

Interest

income

805

1,073

Foreign

tax

withholding

(526)

(1,245)

Total

Income

342,358

644,369

#### Expenses:
Investment

advisory

fees

122,812

124,012

Total

Expenses

122,812

124,012

Net

Investment

Income

(Loss)

219,546

520,357

#### Realized/Unrealized

#### Gains
(Losses)

#### from

#### Investments:
Net

realized

gains

(losses)

from

investments

(180,623)

(70,570)

Net

realized

gains

(losses)

from

in-kind

transactions

1,664,481

519,272

Net

realized

gains

(losses)

from

futures

contracts

(55,144)

(48,507)

Net

change

in

unrealized

appreciation/depreciation

on

investments

(5,926,207)

(2,472,611)

Net

change

in

unrealized

appreciation/depreciation

on

futures

contracts

9,637

9,637

Net

realized/unrealized

losses

on

investments

(4,487,856)

(2,062,779)

Change

in

net

assets

resulting

from

operations

$

(4,268,310)

$

(1,542,422)

#### Statements

#### of

#### Operations

#### -

#### continued
For

the

Six

Months

Ended

June,

2025

(Unaudited)

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF

#### Investment

#### Income:
Dividend

income

$

860,789

Interest

income

54,386

Foreign

tax

withholding

(52,824)

Total

Income

862,351

#### Expenses:
Investment

advisory

fees

106,803

Total

Expenses

106,803

Net

Investment

Income

(Loss)

755,548

#### Realized/Unrealized

#### Gains
(Losses)

#### from

#### Investments:
Net

realized

gains

(losses)

from

investments

and

foreign

currency

transactions

108,658

Net

realized

gains

(losses)

from

in-kind

transactions

1,474,426

Net

realized

gains

(losses)

from

futures

contracts

726,954

Net

change

in

unrealized

appreciation/depreciation

on

investments

and

foreign

currency

translations

21,184

Net

change

in

unrealized

appreciation/depreciation

on

futures

contracts

(1,576,327)

Net

realized/unrealized

gains

on

investments

754,895

Change

in

net

assets

resulting

from

operations

$

1,510,443

#### Statements

#### of

#### Changes

#### in

#### Net

#### Assets

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024
(Unaudited)

(Unaudited)

#### From

#### Investment

#### Activities:

#### Operations:
Net

investment

income

(loss)

$

1,121,890

$

1,388,981

$

1,334,860

$

2,158,844

Net

realized

gains

(losses)

(881,583)

8,320,708

12,704,217

24,287,300

Net

change

in

unrealized

appreciation/depreciation

496,391

5,473,764

6,898,548

2,175,741

Change

in

net

assets

resulting

from

operations

736,698

15,183,453

20,937,625

28,621,885

#### Distributions

#### to

#### Shareholders:
Distributions

(943,313)

(1,405,308)

(1,220,153)

(2,166,878)

Change

in

net

assets

resulting

from

distributions

to

shareholders

(943,313)

(1,405,308)

(1,220,153)

(2,166,878)

Change

in

net

assets

resulting

from

capital

transactions

37,710,954

53,511,526

17,915,638

4,392,539

Change

in

net

assets

37,504,339

67,289,671

37,633,110

30,847,546

#### Net

#### Assets:
Beginning

of

period

169,765,980

102,476,309

267,798,092

236,950,546

End

of

period

$

207,270,319

$

169,765,980

$

305,431,202

$

267,798,092

#### Capital

#### Transactions:
Proceeds

from

shares

issued

$

48,976,861

$

105,385,140

$

71,992,301

$

104,545,272

Cost

of

shares

redeemed

(11,265,907)

(51,873,614)

(54,076,663)

(100,152,733)

Change

in

net

assets

resulting

from

capital

transactions

$

37,710,954

$

53,511,526

$

17,915,638

$

4,392,539

#### Share

#### Transactions:
Issued

1,300,000

2,850,000

1,800,000

2,500,000

Redeemed

(300,000)

(1,400,000)

(1,250,000)

(2,450,000)

Change

in

Shares

1,000,000

1,450,000

550,000

50,000

#### Statements

#### of

#### Changes

#### in

#### Net

#### Assets

#### -

#### continued

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF

#### Timothy

#### Plan

#### International

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024
(Unaudited)

(Unaudited)

#### From

#### Investment

#### Activities:

#### Operations:
Net

investment

income

(loss)

$

2,924,811

$

5,053,344

$

2,064,058

$

2,522,846

Net

realized

gains

(losses)

5,962,003

25,709,883

3,870,405

1,286,683

Net

change

in

unrealized

appreciation/depreciation

7,686,036

(5,090,448)

21,302,721

(981,027)

Change

in

net

assets

resulting

from

operations

16,572,850

25,672,779

27,237,184

2,828,502

#### Distributions

#### to

#### Shareholders:
Distributions

(2,783,192)

(4,895,565)

(2,089,537)

(3,111,526)

Change

in

net

assets

resulting

from

distributions

to

shareholders

(2,783,192)

(4,895,565)

(2,089,537)

(3,111,526)

Change

in

net

assets

resulting

from

capital

transactions

48,905,764

(11,443,891)

10,901,954

14,606,623

Change

in

net

assets

62,695,422

9,333,323

36,049,601

14,323,599

#### Net

#### Assets:
Beginning

of

period

238,131,671

228,798,348

112,124,993

97,801,394

End

of

period

$

300,827,093

$

238,131,671

$

148,174,594

$

112,124,993

#### Capital

#### Transactions:
Proceeds

from

shares

issued

$

87,558,945

$

138,750,959

$

16,390,398

$

14,606,623

Cost

of

shares

redeemed

(38,653,181)

(150,194,850)

(5,488,444)

—

Change

in

net

assets

resulting

from

capital

transactions

$

48,905,764

$

(11,443,891)

$

10,901,954

$

14,606,623

#### Share

#### Transactions:
Issued

2,450,000

3,850,000

550,000

550,000

Redeemed

(1,050,000)

(4,200,000)

(200,000)

—

Change

in

Shares

1,400,000

(350,000)

350,000

550,000

#### Statements

#### of

#### Changes

#### in

#### Net

#### Assets

#### -

#### continued

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024
(Unaudited)

(Unaudited)

#### From

#### Investment

#### Activities:

#### Operations:
Net

investment

income

(loss)

$

219,546

$

630,430

$

520,357

$

1,468,033

Net

realized

gains

(losses)

1,428,714

5,783,016

400,195

6,369,437

Net

change

in

unrealized

appreciation/depreciation

(5,916,570)

1,651,669

(2,462,974)

(281,817)

Change

in

net

assets

resulting

from

operations

(4,268,310)

8,065,115

(1,542,422)

7,555,653

#### Distributions

#### to

#### Shareholders:
Distributions

(270,959)

(633,632)

(638,435)

(1,413,960)

Change

in

net

assets

resulting

from

distributions

to

shareholders

(270,959)

(633,632)

(638,435)

(1,413,960)

Change

in

net

assets

resulting

from

capital

transactions

(48,443,482)

4,774,464

(37,208,580)

(8,355,308)

Change

in

net

assets

(52,982,751)

12,205,947

(39,389,437)

(2,213,615)

#### Net

#### Assets:
Beginning

of

period

70,383,119

58,177,172

64,550,447

66,764,062

End

of

period

$

17,400,368

$

70,383,119

$

25,161,010

$

64,550,447

#### Capital

#### Transactions:
Proceeds

from

shares

issued

$

—

$

24,141,386

$

—

$

17,354,716

Cost

of

shares

redeemed

(48,443,482)

(19,366,922)

(37,208,580)

(25,710,024)

Change

in

net

assets

resulting

from

capital

transactions

$

(48,443,482)

$

4,774,464

$

(37,208,580)

$

(8,355,308)

#### Share

#### Transactions:
Issued

—

950,000

—

700,000

Redeemed

(2,100,000)

(750,000)

(1,600,000)

(1,050,000)

Change

in

Shares

(2,100,000)

200,000

(1,600,000)

(350,000)

#### Statements

#### of

#### Changes

#### in

#### Net

#### Assets

#### -

#### continued

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024
(Unaudited)

#### From

#### Investment

#### Activities:

#### Operations:
Net

investment

income

(loss)

$

755,548

$

1,559,850

Net

realized

gains

(losses)

2,310,038

(3,636,037)

Net

change

in

unrealized

appreciation/depreciation

(1,555,143)

2,803,320

Change

in

net

assets

resulting

from

operations

1,510,443

727,133

#### Distributions

#### to

#### Shareholders:
Distributions

(669,556)

(1,688,176)

Change

in

net

assets

resulting

from

distributions

to

shareholders

(669,556)

(1,688,176)

Change

in

net

assets

resulting

from

capital

transactions

(11,848,671)

8,257,471

Change

in

net

assets

(11,007,784)

7,296,428

#### Net

#### Assets:
Beginning

of

period

41,703,293

34,406,865

End

of

period

$

30,695,509

$

41,703,293

#### Capital

#### Transactions:
Proceeds

from

shares

issued

$

—

$

9,680,975

Cost

of

shares

redeemed

(11,848,671)

(1,423,504)

Change

in

net

assets

resulting

from

capital

transactions

$

(11,848,671)

$

8,257,471

#### Share

#### Transactions:
Issued

—

410,000

Redeemed

(500,000)

(60,000)

Change

in

Shares

(500,000)

350,000

#### Financial

#### Highlights
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Small

#### Cap

#### Core

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2021

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2020
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

39.03 $

35.34 $

30.39 $

35.49 $

27.71 $

25.55 Investment

Activities:

Net

Investment

Income

(Loss)

(a) 0.23 0.38 0.36 0.34 0.40 0.32 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

(0.33)

3.69 4.97 (5.11)

7.78 2.15 Total

from

Investment

Activities

(0.10)

4.07 5.33 (4.77)

8.18 2.47 Distributions

to

Shareholders:

Net

Investment

Income

(0.19)

(0.38)

(0.38)

(0.33)

(0.40)

(0.31)

Total

Distributions

(0.19)

(0.38)

(0.38)

(0.33)

(0.40)

(0.31)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

38.74 $

39.03 $

35.34 $

30.39 $

35.49 $

27.71 Total

Return

(b)(c) (0.22%)

11.57%

17.64%

(13.45%)

29.62%

9.99%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(d) 0.52%

0.52%

0.52%

0.52%

0.52%

0.52%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(d) 1

.22%

1.02%

1.13%

1.09%

1.20%

1.45%

Net

Assets,

End

of

Period

(000's)

$

207,270

$

169,766

$

102,476

$

71,422

$

56,792

$

31,869

Portfolio

Turnover

(b)(e) 23%

44%

60%

59%

57%

78%

Table

Line

(a) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(b) Not

annualized

for

periods

less

than

one

year.

(c) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d) Annualized

for

periods

less

than

one

year.

(e) Excludes

impact

of

in-kind

transactions.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2021

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2020
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

42.85 $

38.22 $

33.47 $

38.65 $

30.93 $

27.23 Investment

Activities:

Net

Investment

Income

(Loss)

(a) 0.20 0.37 0.36 0.35 0.24 0.23 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

2.06 4.64 4.73 (5.17)

7.72 3.72 Total

from

Investment

Activities

2.26 5.01 5.09 (4.82)

7.96 3.95 Distributions

to

Shareholders:

Net

Investment

Income

(0.19)

(0.38)

(0.34)

(0.36)

(0.24)

(0.25)

Total

Distributions

(0.19)

(0.38)

(0.34)

(0.36)

(0.24)

(0.25)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

44.92 $

42.85 $

38.22 $

33.47 $

38.65 $

30.93 Total

Return

(b)(c) 5.29 %

13.12%

15.30%

(12.48%)

25.82%

14.67%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(d) 0.52%

0.52%

0.52%

0.52%

0.52%

0.52%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(d) 0.96%

0.90%

1.03%

1.02%

0.69%

0.88%

Net

Assets,

End

of

Period

(000's)

$

305,431

$

267,798

$

236,951

$

179,060

$

168,140

$

163,904

Portfolio

Turnover

(b)(e) 18%

25%

30%

26%

27%

45%

Table

Line

(a) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(b) Not

annualized

for

periods

less

than

one

year.

(c) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d) Annualized

for

periods

less

than

one

year.

(e) Excludes

impact

of

in-kind

transactions.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2021

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2020
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

36.36 $

33.16 $

31.13 $

32.49 $

25.88 $

26.89 Investment

Activities:

Net

Investment

Income

(Loss)

(a) 0.41 0.77 0.75 0.73 0.61 0.57 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

1.46 3.19 2.01 (1.35)

6.60 (0.96)

Total

from

Investment

Activities

1.87 3.96 2.76 (0.62)

7.21 (0.39)

Distributions

to

Shareholders:

Net

Investment

Income

(0.39)

(0.76)

(0.73)

(0.74)

(0.60)

(0.62)

Total

Distributions

(0.39)

(0.76)

(0.73)

(0.74)

(0.60)

(0.62)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

37.84 $

36.36 $

33.16 $

31.13 $

32.49 $

25.88 Total

Return

(b)(c) 5.20%

11.99%

9.03%

(1.88%)

28.10%

(1.17%)

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(d) 0.52%

0.52%

0.52%

0.52%

0.52%

0.52%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(d) 2.25%

2.15%

2.39%

2.32%

2.07%

2.45%

Net

Assets,

End

of

Period

(000's)

$

300,827

$

238,132

$

228,798

$

178,986

$

131,582

$

122,911

Portfolio

Turnover

(b)(e) 24%

34%

41%

42%

43%

68%

Table

Line

(a) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(b) Not

annualized

for

periods

less

than

one

year.

(c) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d) Annualized

for

periods

less

than

one

year.

(e) Excludes

impact

of

in-kind

transactions.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### International

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2021

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2020
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

26.38 $

26.43 $

23.30 $

29.06 $

26.98 $

25.58 Investment

Activities:

Net

Investment

Income

(Loss)

(a) 0.48 0.63 0.64 0.66 0.56 0.47 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

5.83 0.11 3.12 (5.82)

2.21 1.40 Total

from

Investment

Activities

6.31 0.74 3.76 (5.16)

2.77 1.87 Distributions

to

Shareholders:

Net

Investment

Income

(0.48)

(0.79)

(0.63)

(0.60)

(0.69)

(0.47)

Total

Distributions

(0.48)

(0.79)

(0.63)

(0.60)

(0.69)

(0.47)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

32.21 $

26.38 $

26.43 $

23.30 $

29.06 $

26.98 Total

Return

(b)(c) 24

.12%

2.77%

16.41%

(17.80%)

10.34%

7.66%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(d) 0.62%

0.62%

0.62%

0.62%

0.62%

0.62%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(d) 3.33%

2.34%

2.60%

2.72%

1.94%

1.98%

Net

Assets,

End

of

Period

(000's)

$

148,175

$

112,125

$

97,801

$

76,875

$

82,827

$

71,500

Portfolio

Turnover

(b)(e) 16%

35%

34%

39%

42%

63%

Table

Line

(a) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(b) Not

annualized

for

periods

less

than

one

year.

(c) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(d) Annualized

for

periods

less

than

one

year.

(e) Excludes

impact

of

in-kind

transactions.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### period

#### July

#### 29,

#### 2021
(a) #### to

#### December

#### 31,

#### 2021
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

25.59 $

22.81 $

23.75 $

27.19 $

25.00 Investment

Activities:

Net

Investment

Income

(Loss)

(b) 0.12 0.23 0.38 0.25 0.11 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

1.21 2.77 (0.96)

(3.40)

2.16 Total

from

Investment

Activities

1.33 3.00 (0.58)

(3.15)

2.27 Distributions

to

Shareholders:

Net

Investment

Income

(0.15)

(0.22)

(0.36)

(0.28)

(0.08)

Return

of

Capital

—

—

—

(0.01)

—

Total

Distributions

(0.15)

(0.22)

(0.36)

(0.29)

(0.08)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

26.77 $

25.59 $

22.81 $

23.75 $

27.19 Total

Return

(c)(d) 5.20%

13.18%

(2.40%)

(11.58%)

9.09%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(e) 0.52%

0.52%

0.52%

(f) 0.52%

0.51%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(e) 0.94%

0.91%

1.69%

1.05%

1.00%

Net

Assets,

End

of

Period

(000's)

$

17,400

$

70,383

$

58,177

$

70,060

$

69,327

Portfolio

Turnover

(c)(g) 9%

29%

(h) 302%

(i)

155%

(i)

13%

Table

Line

(a) Commencement

of

operations.

(b) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(c) Not

annualized

for

periods

less

than

one

year.

(d) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(e) Annualized

for

periods

less

than

one

year.

(f) Does

not

include

acquired

fund

fees

and

expenses,

if

any.

(g) Excludes

impact

of

in-kind

transactions.

(h) Portfolio

turnover

decreased

significantly

due

to

changes

in

the

volume

and

timing

of

purchases

and

sales

of

portfolio

holdings

during

the

year.

(i) Portfolio

turnover

increased

significantly

due

to

changes

in

the

volume

and

timing

of

purchases

and

sales

of

portfolio

holdings

during

the

year.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2023

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2022

#### For

#### the

#### period

#### July

#### 29,

#### 2021
(a) #### to

#### December

#### 31,

#### 2021
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

24.83 $

22.63 $

23.47 $

26.90 $

25.00 Investment

Activities:

Net

Investment

Income

(Loss)

(b) 0.27 0.53 0.60 0.60 0.28 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

0.38 2.18 (0.88)

(3.37)

1.86 Total

from

Investment

Activities

0.65 2.71 (0.28)

(2.77)

2.14 Distributions

to

Shareholders:

Net

Investment

Income

(0.32)

(0.51)

(0.56)

(0.66)

(0.24)

Total

Distributions

(0.32)

(0.51)

(0.56)

(0.66)

(0.24)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

25.16 $

24.83 $

22.63 $

23.47 $

26.90 Total

Return

(c)(d) 2.66%

12.01%

(1.17%)

(10.44%)

8.59%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(e) 0.52%

0.52%

0.52%

(f) 0.52%

0.51%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(e) 2.19%

2.18%

2.60%

2.39%

2.50%

Net

Assets,

End

of

Period

(000's)

$

25,161

$

64,550

$

66,764

$

68,055

$

47,081

Portfolio

Turnover

(c)(g) 64%

39%

(h) 209%

191%

(i)

16%

Table

Line

(a) Commencement

of

operations.

(b) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(c) Not

annualized

for

periods

less

than

one

year.

(d) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(e) Annualized

for

periods

less

than

one

year.

(f) Does

not

include

acquired

fund

fees

and

expenses,

if

any.

(g) Excludes

impact

of

in-kind

transactions.

(h) Portfolio

turnover

decreased

significantly

due

to

changes

in

the

volume

and

timing

of

purchases

and

sales

of

portfolio

holdings

during

the

year.

(i) Portfolio

turnover

increased

significantly

due

to

changes

in

the

volume

and

timing

of

purchases

and

sales

of

portfolio

holdings

during

the

year.

#### Financial

#### Highlights

#### -

#### continued
For

a

Share

Outstanding

Throughout

Each

Period

#### Timothy

#### Plan
*See* 

*notes* 

*to* 

*financial* 

*statements.*

#### Timothy

#### Plan

#### Market

#### Neutral

#### ETF

#### For

#### the

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025

#### For

#### the

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### For

#### the

#### period

#### January

#### 25,

#### 2023
(a) #### to

#### December

#### 31,

#### 2023
(Unaudited)

#### Net

#### Asset

#### Value,

#### Beginning

#### of

#### Period
$

23.56 $

24.23 $

25.00 Investment

Activities:

Net

Investment

Income

(Loss)

(b) 0.55 0.93 1.01 Net

Realized

and

Unrealized

Gains

(Losses)

on

Investments

0.56 (0.62)

0.31 Total

from

Investment

Activities

1.11 0.31 1.32 Distributions

to

Shareholders:

Net

Investment

Income

(0.50)

(0.98)

(1.06)

Net

Realized

Gains

From

Investments

—

—

(1.03)

Total

Distributions

(0.50)

(0.98)

(2.09)

#### Net

#### Asset

#### Value,

#### End

#### of

#### Period
$

24.17 $

23.56 $

24.23 Total

Return

(c)(d) 4.76%

1.39%

5.46%

#### Ratios/Supplemental

#### Data:
Ratio

of

Expenses

to

Average

Net

Assets

(e) 0.65%

0.65%

0.65%

Ratio

of

Net

Investment

Income

(Loss)

to

Average

Net

Assets

(e) 4.61%

3.94%

4.37%

Net

Assets,

End

of

Period

(000's)

$

30,696

$

41,703

$

34,407

Portfolio

Turnover

(c)(f) 19%

35%

(g) 112%

Table

Line

(a) Commencement

of

operations.

(b) Per

share

net

investment

income

(loss)

has

been

calculated

using

the

average

daily

shares

method.

(c) Not

annualized

for

periods

less

than

one

year.

(d) Assumes

reinvestment

of

all

net

investment

income

and

realized

capital

gain

distributions,

if

any,

during

the

period.

Includes

adjustments

in

accordance

with

U.S.

Generally

Accepted

Accounting

Principles

and

could

differ

from

the

reported

return.

(e) Annualized

for

periods

less

than

one

year.

(f) Excludes

impact

of

in-kind

transactions.

(g) Portfolio

turnover

decreased

significantly

due

to

changes

in

the

volume

and

timing

of

purchases

and

sales

of

portfolio

holdings

during

the

year.

#### Notes

#### to

#### Financial

#### Statements
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

1. #### ORGANIZATION:
The

Timothy

Plan

(the

"Trust")

was

organized

pursuant

to

a

trust

agreement

dated

December

16,

1993

as

a

Delaware

business

trust.

The

Trust

is

registered

under

the

Investment

Company

Act

of

1940,

as

amended

(the

"1940

Act"),

as

an

open-end

investment

company

and

thus

is

determined

to

be

an

investment

company

for

accounting

purposes.

The

Trust

follows

the

investment

company

accounting

and

reporting

guidance

under

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

("ASC")

Topic

946

"Financial

Services—

Investment

Companies."

The

Trust

is

comprised

of

multiple

series

funds,

seven

of

which

are

exchange-traded

funds

("ETFs"),

and

are

authorized

to

issue

an

unlimited

number

of

shares,

which

are

units

of

beneficial

interest

with

no

par

value.

Each

ETF

is

classified

as

diversified

under

the

1940

Act.

The

accompanying

financial

statements

are

those

of

the

Timothy

Plan

US

Small

Cap

Core

ETF

("US

Small

Cap

Core

ETF"),

Timothy

Plan

US

Large/Mid

Cap

Core

ETF

("US

Large/Mid

Cap

Core

ETF"),

Timothy

Plan

High

Dividend

Stock

ETF

("High

Dividend

Stock

ETF"),

Timothy

Plan

International

ETF

("International

ETF"),

Timothy

Plan

US

Large/Mid

Cap

Core

Enhanced

ETF

("US

Large/Mid

Cap

Core

Enhanced

ETF"),

Timothy

Plan

High

Dividend

Stock

Enhanced

ETF

("High

Dividend

Stock

Enhanced

ETF")

and

Timothy

Plan

Market

Neutral

ETF

("Market

Neutral

ETF")

(individually,

a

"Fund"

and

collectively,

the

"Funds").

The

Funds,

except

for

the

Market

Neutral

ETF,

seek

to

provide

investment

results

that

track

the

performance

of

an

underlying

index,

before

fees

and

expenses.

The

underlying

indices

for

the

US

Small

Cap

Core

ETF,

US

Large/Mid

Cap

Core

ETF,

High

Dividend

Stock

ETF,

International

ETF,

US

Large/Mid

Cap

Core

Enhanced

ETF,

and

High

Dividend

Stock

Enhanced

ETF

are

the

Victory

US

Small

Cap

Volatility

Weighted

BRI

Index,

Victory

US

Large/Mid

Cap

Volatility

Weighted

BRI

Index,

Victory

US

Large

Cap

High

Dividend

Volatility

Weighted

BRI

Index,

Victory

International

Volatility

Weighted

BRI

Index,

Victory

US

Large/Mid

Cap

Long/Cash

Volatility

Wtd

BRI

Index,

and

Victory

US

Large

Cap

High

Div

Long/Cash

Vol

Wtd

BRI

Index

(individually,

an

"Index"

and

collectively,

the

"Indices"),

respectively.

The

Market

Neutral

ETF

seeks

to

provide

high

current

income

and

low

correlation

to

stocks

and

bonds.

Under

the

Trust's

organizational

documents,

its

officers

and

Board

of

Trustees

(the

"Board")

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Funds.

In

addition,

in

the

normal

course

of

business,

the

Funds

enter

into

contracts

with

their

vendors

and

others

that

provide

for

general

indemnifications.

The

Funds'

maximum

exposure

under

these

arrangements

is

unknown,

as

this

would

involve

future

claims

that

may

be

made

against

the

Funds.

However,

based

on

experience,

the

Funds

expect

that

risk

of

loss

to

be

remote.

2. #### SIGNIFICANT

#### ACCOUNTING

#### POLICIES:
The

following

is

a

summary

of

significant

accounting

policies

followed

by

the

Trust

in

the

preparation

of

its

financial

statements.

The

policies

are

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America

("GAAP").

The

preparation

of

financial

statements

in

accordance

with

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

for

the

period.

Actual

results

could

differ

from

those

estimates.

The

Funds

follow

the

specialized

accounting

and

reporting

requirements

under

GAAP

that

are

applicable

to

investment

companies.

Shares

of

the

Funds

are

listed

and

traded

on

the

New

York

Stock

Exchange

("NYSE"

or

the

"Exchange").

The

Funds'

shares

are

offered

at

net

asset

value

("NAV")

only

in

aggregations

of

50,000

Shares

(each

a

"Creation

Unit").

The

Funds

will

issue

and

redeem

Creation

Units

principally

in

exchange

for

a

basket

of

securities

included

in

the

respective

Fund's

Index

(the

"Deposit

Securities"),

together

with

the

deposit

of

a

specified

cash

payment

(the

"Cash

Component"),

plus

transaction

fees

("Transaction

Fees")

as

further

described

below.

Shares

trade

on

the

Exchange

at

market

prices

that

may

be

below,

at,

or

above

NAV.

Shares

of

a

Fund

may

only

be

purchased

or

redeemed

by

certain

financial

institutions

("Authorized

Participants").

An

Authorized

Participant

is

either

(i) a

broker-dealer

or

other

participant

in

the

clearing

process

through

the

Continuous

Net

Settlement

System

("Clearing

Process")

of

the

National

Securities

Clearing

Corporation

("NSCC")

or

(ii) a

DTC

participant

and,

in

each

case,

must

have

executed

a

Participant

Agreement

with

the

Distributor.

Most

retail

investors

do

not

qualify

as

Authorized

Participants

nor

have

the

resources

to

buy

and

sell

whole

Creation

Units.

Therefore,

they

are

unable

to

purchase

or

redeem

the

shares

directly

from

a

Fund.

The

Funds

reserve

the

right

to

offer

creations

and

redemptions

of

Shares

for

cash.

In

addition,

Shares

may

be

issued

in

advance

of

receipt

of

Deposit

Securities

subject

to

various

conditions,

including

a

requirement

to

maintain

on

deposit

with

the

Trust

cash

equal

to

up

to

105%

of

the

market

value

of

the

missing

Deposit

Securities.

In

each

instance

of

such

cash

creations

or

redemptions,

transaction

fees

may

be

imposed

and

may

be

higher

than

the

transaction

fees

associated

with

in-kind

creations

or

redemptions.

Transaction

Fees

include

a

fixed

fee

("Fixed

Fee")

payable

to

the

Custodian

("Citibank

N.A."),

which

is

imposed

on

each

creation

and

redemption

transaction

regardless

of

the

number

of

Creation

Units

involved

in

the

transaction.

Transaction

Fees

may

also

include

an

additional

variable

charge

("Variable

Charge")

for

purchases

and

redemptions

of

Creation

Units

for

cash

or

involving

cash-in-lieu,

to

compensate

each

Fund

and

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

its

ongoing

shareholders

for

brokerage

and

market

impact

expenses

relating

to

Creation

Unit

transactions.

Under

certain

circumstances,

the

Transaction

Fees

may

be

waived

or

adjusted.

In

such

cases,

the

Authorized

Participant

will

reimburse

each

Fund

for,

among

other

things,

any

difference

between

the

market

value

at

which

the

securities

and/or

financial

instruments

were

purchased

by

each

Fund

and

the

cash-in-lieu

amount,

applicable

registration

fees,

brokerage

commissions

and

certain

taxes

and

other

costs

and

expenses

related

to

the

execution

of

trades

resulting

from

such

transaction

(up

to

the

maximum

amount

shown

below).

In

addition,

purchasers

of

Creation

Units

are

responsible

for

the

costs

of

transferring

the

Deposit

Securities

to

the

account

of

each

Fund.

Variable

fees

received

by

each

Fund

are

displayed

in

the

Capital

Share

Transaction

section

of

the

Statements

of

Changes

in

Net

Assets

as

an

increase

to

Paid-In-Capital.

Investors

who

use

the

services

of

a

broker,

or

other

such

intermediary

may

be

charged

a

fee

for

such

services.

The

Transaction

Fees

for

each

Fund

are

listed

below:

\*

As

a

percentage

of

the

amount

invested.

Investment

Valuation:

The

Funds

record

investments

at

fair

value.

Fair

value

is

defined

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date.

The

valuation

techniques

described

below

maximize

the

use

of

observable

inputs

and

minimize

the

use

of

unobservable

inputs

in

determining

fair

value.

The

inputs

used

for

valuing

the

Funds'

investments

are

summarized

in

the

three

broad

levels

listed

below:

Level

—

quoted

prices

in

active

markets

for

identical

securities

Level

—

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities

or

interest

rates

applicable

to

those

securities,

etc.)

Level

—

significant

unobservable

inputs

(including

the

Funds'

own

assumptions

in

determining

the

fair

value

of

investments)

Changes

in

valuation

techniques

may

result

in

transfers

in

or

out

of

an

assigned

level

within

the

disclosure

hierarchy.

The

inputs

or

methodologies

used

for

valuation

techniques

are

not

necessarily

an

indication

of

the

risk

associated

with

entering

into

those

investments.

Portfolio

securities

listed

or

traded

on

securities

exchanges

including,

common

stocks,

warrants

and

American

Depositary

Receipts

("ADRs"),

are

valued

at

the

closing

price

on

the

exchange

or

system

where

the

security

is

principally

traded,

if

available,

or

at

the

Nasdaq

Official

Closing

Price.

If

there

have

been

no

sales

for

that

day

on

the

exchange

or

system,

then

a

security

is

valued

at

the

last

available

bid

quotation

on

the

exchange

or

system

where

the

security

is

principally

traded.

In

each

of

these

situations,

valuations

are

typically

categorized

as

Level

in

the

fair

value

hierarchy.

Futures

contracts

are

valued

at

the

settlement

price

established

each

day

by

the

board

of

trade

or

an

exchange

on

which

they

are

traded.

These

valuations

are

typically

categorized

as

Level

in

the

fair

value

hierarchy.

Investments

in

open-end

investment

companies

are

valued

at

net

asset

value.

These

valuations

are

typically

categorized

as

Level

in

the

fair

value

hierarchy.

Investments

for

which

there

are

no

such

quotations,

or

for

which

quotations

do

not

appear

reliable,

are

valued

at

fair

value

in

accordance

with

procedures

established

by

valuation

designee

and

under

the

general

supervision

and

oversight

of

the

Trust's

Board.

These

valuations

#### Fee

#### for

#### In-Kind

#### and

#### Cash

#### Purchases

#### and

#### Redemptions

#### Maximum

#### Additional

#### Variable

#### Charge

#### for

#### Cash

#### Purchases

#### and

#### Redemptions\*
US

Small

Cap

Core

ETF

$250

2.00%

US

Large/Mid

Cap

Core

ETF

$500

2.00%

High

Dividend

Stock

ETF

$250

2.00%

International

ETF

$4,500

2.00%

US

Large/Mid

Cap

Core

Enhanced

ETF

$500

2.00%

High

Dividend

Stock

Enhanced

ETF

$250

2.00%

Market

Neutral

ETF

$250

2.00%

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

are

typically

categorized

as

Level

or

Level

in

the

fair

value

hierarchy,

based

on

the

observability

of

inputs

used

to

determine

the

fair

value.

A

summary

of

the

valuations

as

of

June

30,

2025

,

based

upon

the

three

levels

defined

above,

is

included

in

the

table

below

while

the

breakdown,

by

category,

of

investments

is

disclosed

in

the

Schedules

of

Portfolio

Investments:

#### US

#### Small

#### Cap

#### Core

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

206,553,650

$

–

$

–

$

206,553,650

Total

206,553,650

–

–

206,553,650

Other

Financial

Instruments\*

Assets:

Futures

Contracts

17,39

–

–

17,39

Total

$

17,39

$

–

$

–

$

17,39

#### US

#### Large/Mid

#### Cap

#### Core

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

304,639,399

$

–

$

–

$

304,639,399

Total

304,639,399

–

–

304,639,399

Other

Financial

Instruments\*

Assets:

Futures

Contracts

20,009

–

–

20,009

Total

$

20,009

$

–

$

–

$

20,009

#### High

#### Dividend

#### Stock

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

299,722,717

$

–

$

–

$

299,722,717

Total

299,722,717

–

–

299,722,717

Other

Financial

Instruments\*

Assets:

Futures

Contracts

21,030

–

–

21,030

Total

$

21,030

$

–

$

–

$

21,030

#### International

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

146,692,713

$

–

$

–

$

146,692,713

Warrants

$

–

$

–

$

–(a)

$

–

Total

146,692,713

–

–

146,692,713

Other

Financial

Instruments\*

Assets:

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

As

of

June

30,

2025

,

there

were

no

transfers

into/out

of

Level

3. Management

has

determined

that

the

amount

of

Level

securities

compared

to

total

net

assets

is

not

material;

therefore,

no

additional

disclosures

are

necessary

for

the

period

ended

June

30,

2025

.

#### Real

#### Estate

#### Investment

#### Trusts

#### ("REITs"):
The

Funds

may

invest

in

REITs

which

report

information

on

the

source

of

their

distributions

annually.

REITs

are

pooled

investment

vehicles

that

invest

primarily

in

income-producing

real

estate

or

real

estate

related

loans

or

interests

(such

as

mortgages).

Certain

distributions

received

from

REITs

during

the

year

are

recorded

as

realized

gains

or

return

of

capital

as

estimated

by

the

Funds

or

when

such

information

becomes

known.

#### Investment

#### Companies:
The

Funds

may

invest

in

portfolios

of

open-end

investment

companies.

These

investment

companies

value

securities

in

their

portfolios

for

which

market

quotations

are

readily

available

at

their

market

values

(generally

the

last

reported

sale

price)

and

all

other

securities

and

assets

Futures

Contracts

15,906

–

–

15,906

Total

$

15,906

$

–

$

–

$

15,906

#### US

#### Large/Mid

#### Cap

#### Core

#### Enhanced

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

17,330,432

$

–

$

–

$

17,330,432

Investment

Companies

$

62,460

$

–

$

–

$

62,460

Total

17,392,892

–

–

17,392,892

#### High

#### Dividend

#### Stock

#### Enhanced

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

25,028,388

$

–

$

–

$

25,028,388

Investment

Companies

$

113,855

$

–

$

–

$

113,855

Total

25,142,243

–

–

25,142,243

#### Market

#### Neutral

#### ETF
Investment

Securities:

#### Level

#### 1

#### -

#### Quoted

#### Prices

#### Level

#### 2

#### -

#### Other

#### Significant

#### Observable

#### Inputs

#### Level

#### 3

#### -

#### Other

#### Significant

#### Unobservable

#### Inputs

#### Total
Common

Stocks

$

28,070,032

$

–

$

–

$

28,070,032

Total

28,070,032

–

–

28,070,032

Other

Financial

Instruments\*

Assets:

Futures

Contracts

1,289,640

–

–

1,289,640

Liabilities:

Futures

Contracts

(1,755,609)

–

–

(1,755,609)

Total

$

(465,969)

$

–

$

–

$

(465,969)

\*

Futures

Contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

investment.

(a) Zero

market

value.

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

at

their

fair

value

by

the

methods

established

by

the

board

of

directors

of

the

underlying

funds.

#### Investment

#### Transactions

#### and

#### Related

#### Income:
Changes

in

holdings

of

investments

are

accounted

for

no

later

than

one

business

day

following

the

trade

date.

For

financial

reporting

purposes,

however,

investment

transactions

are

accounted

for

on

trade

date

on

the

last

business

day

of

the

reporting

period.

Interest

income

is

recognized

on

an

accrual

basis

and

includes,

where

applicable,

the

amortization

of

premiums

or

accretion

of

discounts.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Non-cash

dividends

included

in

income,

if

any,

are

recorded

at

the

fair

value

of

the

securities

received.

Gains

or

losses

realized

on

sales

of

securities

are

determined

by

comparing

the

identified

cost

of

the

security

lot

sold

with

the

net

sales

proceeds.

Withholding

taxes

on

interest,

dividends

and

gains

as

a

result

of

certain

investments

in

ADRs

by

the

Funds

have

been

provided

for

in

accordance

with

each

investment's

applicable

country's

tax

rules

and

rates.

#### Futures

#### Contracts:
During

the

period

ended

June

30,

2025

,

the

Funds

used

futures

contracts

to

provide

market

exposure

on

the

Funds'

cash

balances.

Futures

contracts

are

valued

based

upon

their

quoted

daily

settlement

prices.

Upon

entering

into

a

futures

contract,

and

to

maintain

the

Fund's

open

positions

in

futures

contracts,

the

Fund

would

be

required

to

deposit

with

its

custodian

or

futures

broker

in

a

segregated

account

in

the

name

of

the

futures

broker

an

amount

of

cash,

U.S.

government

securities,

suitable

money

market

instruments,

or

other

liquid

securities,

known

as

"initial

margin."

The

margin

required

for

a

particular

futures

contract

is

set

by

the

exchange

on

which

the

contract

is

traded,

and

may

be

significantly

modified

from

time

to

time

by

the

exchange

during

the

term

of

the

contract.

Futures

contracts

are

customarily

purchased

and

sold

on

margins

that

may

range

upward

from

less

than

5%

of

the

value

of

the

contract

being

traded.

Deposits

for

futures

for

the

Funds

are

reported

as

Deposit

with

broker

for

futures

contracts

on

the

Statements

of

Assets

and

Liabilities.

If

the

price

of

an

open

futures

contract

changes

(by

increase

in

underlying

instrument

or

index

in

the

case

of

a

sale

or

by

decrease

in

the

case

of

a

purchase)

so

that

the

loss

on

the

futures

contract

reaches

a

point

at

which

the

margin

on

deposit

does

not

satisfy

margin

requirements,

the

broker

will

require

an

increase

in

the

margin.

However,

if

the

value

of

a

position

increases

because

of

favorable

price

changes

in

the

futures

contract

so

that

the

margin

deposit

exceeds

the

required

margin,

the

broker

will

pay

the

excess

to

a

Fund.

These

subsequent

payments,

called

"Variation

Margin,"

to

and

from

the

futures

broker,

are

made

on

a

daily

basis

as

the

price

of

the

underlying

assets

fluctuate

making

the

long

and

short

positions

in

the

futures

contract

more

or

less

valuable,

a

process

known

as

"marking

to

the

market."

The

Funds

recorded

a

payable

or

receivable

on

variation

margin.

The

Funds

expect

to

earn

interest

income

on

its

margin

deposits.

Gains

or

losses

are

recognized

but

not

considered

realized

until

the

contracts

expire

or

are

closed.

Futures

contracts

involve,

to

varying

degrees,

elements

of

market

risk

(generally

equity

price

risk

related

to

stock

futures,

interest

rate

risk

related

to

bond

futures,

and

foreign

currency

risk

related

to

currency

futures)

and

exposure

to

loss

in

excess

of

the

variation

margin

disclosed

in

the

Statements

of

Assets

and

Liabilities.

The

primary

risks

associated

with

the

use

of

futures

contracts

are

the

imperfect

correlation

between

the

change

in

fair

value

of

the

underlying

securities

and

the

prices

of

futures

contracts,

the

possibility

of

an

illiquid

market,

and

the

inability

of

the

counterparty

to

meet

the

terms

of

the

contract.

Realized

and

unrealized

gains

and

losses

are

reported

as

"Net

realized

gains/(losses)

from

futures

transactions"

and

"Net

change

in

unrealized

appreciation/depreciation

on

futures

contracts",

respectively,

on

the

Statements

of

Operations.

#### Average

#### Notional

#### Value
The

table

below

summarizes

the

monthly

average

notional

value

of

futures

contracts

for

the

period

ended

June

30,

2025

.

#### Summary

#### of

#### Derivative

#### Instruments
The

following

is

a

summary

of

the

fair

values

of

derivative

instruments

on

Statements

of

Assets

and

Liabilities,

categorized

by

risk

exposure,

#### Average

#### Notional

#### Value

#### Fund

#### Long

#### Short
US

Small

Cap

Core

ETF

$

636,358

$

—

US

Large/Mid

Cap

Core

ETF

838,294

—

High

Dividend

Stock

ETF

984,235

—

International

ETF

571,063

—

US

Large/Mid

Cap

Core

Enhanced

ETF

147,365

—

High

Dividend

Stock

Enhanced

ETF

147,365

—

Market

Neutral

ETF

29,706,433

58,604,748

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

as

of

June

30,

2025

:

\*

Includes

cumulative

unrealized

appreciation

(depreciation)

of

futures

contracts

as

reported

on

the

Schedules

of

Portfolio

Investments.

Only

current

day's

variation

margin

for

futures

contracts

is

reported

within

the

Statements

of

Assets

and

Liabilities.

The

following

is

a

summary

of

the

effect

of

derivative

instruments

on

the

Statements

of

Operations,

categorized

by

risk

exposure,

for

the

period

ended

June

30,

2025

:

#### Foreign

#### Currency

#### Translations:
The

accounting

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Investment

securities

and

other

assets

and

liabilities

of

a

Fund

denominated

in

a

foreign

currency

are

translated

into

U.S.

dollars

at

current

exchange

rates.

Purchases

and

sales

of

securities,

income

receipts

and

expense

payments

are

translated

into

U.S.

dollars

at

the

exchange

rates

on

the

date

of

the

transactions.

The

Funds

do

not

isolate

the

portion

of

the

results

of

operations

resulting

from

changes

in

foreign

exchange

rates

on

investments

from

fluctuations

arising

from

changes

in

market

prices

of

securities

held.

Such

fluctuations

are

disclosed

as

net

change

in

unrealized

appreciation/depreciation

on

investments

and

foreign

currency

translations

on

the

Statements

of

Operations.

Any

realized

gains

or

losses

from

these

fluctuations

are

disclosed

as

net

realized

gains

or

losses

from

investment

transactions

and

foreign

currency

transactions

on

the

Statements

of

Operations.

#### Foreign

#### Taxes:
The

Funds

may

be

subject

to

foreign

taxes

related

to

foreign

income

received

(a

portion

of

which

may

be

reclaimable),

capital

gains

on

the

sale

of

securities,

and

certain

foreign

currency

transactions.

All

foreign

taxes

are

recorded

in

accordance

with

the

applicable

regulations

and

rates

that

exist

in

the

foreign

jurisdictions

in

which

the

Funds

invest.

#### Dividends

#### to

#### Shareholders:
Dividends

from

net

investment

income,

if

any,

are

declared

and

paid

monthly

by

the

Funds.

Distributable

net

realized

gains,

if

any,

are

declared

and

distributed

at

least

annually

by

each

Fund.

The

amounts

of

dividends

from

net

investment

income

and

distributions

from

net

realized

gains

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

GAAP.

To

the

extent

these

"book/tax"

differences

are

permanent

in

nature

(i.e.,

that

they

result

from

other

than

timing

of

recognition

"temporary

difference"),

such

amounts

are

reclassified

within

the

components

of

net

assets

based

on

their

federal

tax-basis

treatment;

temporary

differences

(e.g.,

wash

sales)

do

not

require

reclassification.

To

the

extent

dividends

and

distributions

exceed

net

investment

income

and

net

realized

gains

for

tax

purposes,

they

are

reported

as

distributions

of

capital.

Net

investment

losses

incurred

by

a

Fund

may

be

reclassified

as

an

offset

to

capital

on

the

accompanying

Statements

of

Assets

and

Liabilities.

#### Assets

#### Liabilities

#### Fund

#### Variation

#### Margin

#### Receivable

#### on

#### Open

#### Futures

#### Contracts\*

#### Variation

#### Margin

#### Payable

#### on

#### Open

#### Futures

#### Contracts\*

#### Equity

#### Risk

#### Exposure
–

–

US

Small

Cap

Core

ETF

$

17,395

$

–

US

Large/Mid

Cap

Core

ETF

20,009

–

High

Dividend

Stock

ETF

21,030

–

International

ETF

15,906

–

Market

Neutral

ETF

–

465,969

#### Fund

#### Net

#### realized

#### gains
(losses)

#### from

#### futures

#### transactions

#### Net

#### Change

#### in

#### unrealized

#### appreciation
(depreciation)

#### on

#### futures

#### transactions

#### Equity

#### Risk

#### Exposure:
–

–

US

Small

Cap

Core

ETF

$

(142,128)

$

42,804

US

Large/Mid

Cap

Core

ETF

(96,717)

58,974

High

Dividend

Stock

ETF

(140,629)

53,957

International

ETF

59,296

28,415

US

Large/Mid

Cap

Core

Enhanced

ETF

(55,144)

–

High

Dividend

Stock

Enhanced

ETF

(48,507)

9,637

Market

Neutral

ETF

726,954

–

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Federal

#### Income

#### Taxes:
It

is

the

policy

of

each

Fund

to

continue

to

qualify

as

a

regulated

investment

company

by

complying

with

the

provisions

available

to

certain

investment

companies,

as

defined

in

applicable

sections

of

the

Internal

Revenue

Code,

and

to

make

distributions

of

net

investment

income

and

net

realized

gains

sufficient

to

relieve

it

from

all,

or

substantially

all,

federal

income

taxes.

Accordingly,

no

provision

for

federal

income

taxes

is

required

in

the

financial

statements.

The

Funds

identifies

its

major

tax

jurisdiction

as

U.S.

Federal.

As

of

and

during

the

period

ended

June

30,

2025

,

the

Funds

did

not

have

a

liability

for

any

unrecognized

tax

benefits.

The

Funds

recognize

interest

and

penalties,

if

any,

related

to

unrecognized

tax

benefits

as

income

tax

expense

on

the

Statements

of

Operations.

During

the

period,

the

Funds

did

not

incur

any

interest

or

penalties.

For

the

current

open

tax

year,

management

of

the

Funds

has

concluded

that

there

are

no

significant

uncertain

tax

positions

that

would

require

recognition

in

the

financial

statements.

Further,

management

of

the

Funds

is

not

aware

of

any

tax

positions

for

which

it

is

reasonably

possible

that

the

total

amounts

of

any

unrecognized

tax

benefits

will

significantly

change

over

the

next

fiscal

year.

3. #### PURCHASES

#### AND

#### SALES

#### OF

#### SECURITIES:
Purchases

and

sales

of

securities

(excluding

securities

maturing

less

than

one

year

from

acquisition)

and

in-kind

transactions

associated

with

purchases

and

sales for

the

period

ended

June

30,

2025,

were

as

follows:

For

the

period

ended

June

30,

2025

,

there

were

no

purchases

or

sales

of

U.S.

Government

Securities.

4. #### FEES

#### AND

#### TRANSACTIONS

#### WITH

#### AFFILIATES

#### AND

#### OTHER

#### PARTIES:
Timothy

Partners,

Ltd

("TPL"

or

the

"Advisor"),

a

Florida

limited

partnership,

serves

as

the

Funds'

investment

advisor

pursuant

to

an

Investment

Advisory

Agreement.

Subject

always

to

the

supervision

and

approval

of

the

Board,

the

Advisor

is

responsible

for

the

overall

management

of

the

Funds.

The

Advisor

has

arranged

for

distribution,

custody,

fund

administration,

transfer

agency

and

all

other

services

necessary

for

the

Funds

to

operate.

The

Advisor

receives

a

fee

for

its

services,

(the

"Management

Fee").

From

the

Management

Fee,

the

Advisor

is

obligated

to

pay

or

arrange

for

the

payment

of

substantially

all

expenses

of

the

Funds,

including

the

cost

of

transfer

agency,

custody,

fund

administration

and

accounting,

legal,

audit,

independent

trustees

and

other

services,

except

for

interest

expenses,

distribution

fees

or

expenses,

brokerage

expenses,

acquired

fund

fees

and

expenses,

taxes

and

extraordinary

expenses

such

as

litigation

and

other

expenses

not

incurred

in

the

ordinary

course

of

the

Fund's

business.

The

Advisor's

Management

Fee

is

designed

to

cause

substantially

all

of

the

Funds'

expenses

to

be

paid

and

to

compensate

the

Advisor

for

providing

services

for

the

Funds.

US

Small

Cap

Core

ETF,

US

Large/Mid

Cap

Core

ETF,

High

Dividend

Stock

ETF,

High

Dividend

Stock

Enhanced

ETF,

and

US

Large/Mid

Cap

Core

Enhanced

ETF

pay

a

Management

Fee

equivalent

to

0.52%,

International

ETF

pays

a

Management

Fee

equivalent

to

0.62%,

and

Market

Neutral

ETF

pays

a

Management

Fee

equivalent

to

0.65%

of

the

Fund's

average

daily

net

assets,

computed

daily

and

paid

monthly.

Victory

Capital

Management,

Inc.,

a

New

York

corporation,

serves

as

the

Funds'

sub-advisor

pursuant

to

a

written

sub-advisory

agreement

with

the

Advisor

and

receives

fees

from

the

Advisor

for

these

services.

Citibank,

N.A.

serves

as

the

Funds'

Custodian

and

Transfer

Agent

pursuant

to

a

Global

Custodial

and

Agency

Services

Agreement

with

the

Trust.

Citi

Fund

Services

Ohio,

Inc.

("Citi"),

an

affiliate

of

Citibank,

N.A.,

acts

as

the

Funds'

administrator

and

fund

accountant

pursuant

to

a

Services

Agreement

with

the

Trust.

Foreside

Fund

Services,

LLC

("Foreside")

serves

as

the

Funds'

distributor.

Drake

Compliance

LLC

provides

compliance

services

to

the

Trust.

Certain

officers

and/or

interested

trustees

of

the

Funds

are

also

officers

and/or

employees

of

the

Advisor.

#### Excluding

#### in-kind

#### transactions

#### Associated

#### with

#### in-kind

#### transactions

#### Fund

#### Purchases

#### Sales

#### Purchases

#### Sales
US

Small

Cap

Core

ETF

$

43,928,961

$

43,761,760

$

48,735,457

$

11,211,307

US

Large/Mid

Cap

Core

ETF

52,249,661

51,701,788

71,787,201

53,875,309

High

Dividend

Stock

ETF

62,184,306

61,676,821

87,188,269

38,497,080

International

ETF

20,158,046

19,620,838

15,219,014

5,112,442

US

Large/Mid

Cap

Core

Enhanced

ETF

4,619,627

4,393,047

—

48,439,539

High

Dividend

Stock

Enhanced

ETF

29,270,642

29,307,397

—

37,093,016

Market

Neutral

ETF

5,654,715

5,756,577

—

9,825,363

**Notes to Financial Statements - continued**

June 30, 2025 (Unaudited)

**Timothy Plan**

5. INVESTMENT RISKS:

The following describes the principal risks that you may assume as an investor in each Fund. The risk descriptions below provide a more detailed explanation of the principal investment risks.

The risks below are presented in an order intended to facilitate readability. Their order does not imply that the realization of one risk is more likely to occur more frequently than another risk, nor does it imply that the realization of one risk is likely to have a greater adverse impact than another risk. Each Fund may be subject to other risks in addition to these identified risks.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | US Small Cap Core ETF | US Large/Mid Cap Core ETF | High Dividend Stock ETF | International ETF | US Large/Mid Cap Core Enhanced ETF | High Dividend Stock Enhanced ETF | Market Neutral ETF |
| Excluded Security Risk | X | X | X | X | X | X |  |
| Index Risk | X | X | X | X | X | X |  |
| Large-Capitalization Stock Risk |  | X | X |  | X | X | X |
| Mid-Capitalization Stock Risk |  | X | X |  | X | X |  |
| Small Company Risk | X |  |  |  |  |  | X |
| Fixed Income Risk |  |  |  |  | X | X |  |
| Foreign Securities Risk |  |  |  | X |  |  | X |

---

**Excluded Security Risk**

Because the Index omits Excluded Securities, the Funds may be riskier than other funds that invest in a broader array of securities. Biblically Responsible Investing ("BRI") may not be successful. Because the Index is reconstituted only at prescribed times during the year, the Funds may temporarily hold securities that do not comply with the BRI filtering criteria if the application of the criteria or the nature of a company's business changes between these dates.

**Index Risk**

There is no guarantee that the Funds' investment results will have a high degree of correlation to those of the respective Underlying Index or that the Funds will achieve their investment objectives. Market disruptions and regulatory restrictions could have an adverse effect on the Funds' ability to adjust their exposure to the required levels in order to track the Underlying Index. Errors in index data, index computations or the construction of the Underlying Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the Funds and their shareholders. Unusual market conditions may cause the Index Provider to postpone a scheduled rebalance, which could cause the Underlying Index to vary from its normal or expected composition.

**Large-Capitalization Stock Risk**

The securities of large-sized companies may underperform the securities of smaller-sized companies or the market as a whole. The growth rate of larger, more established companies may lag those of smaller companies, especially during periods of economic expansion.

**Mid-Capitalization Stock Risk**

Mid-sized companies may be subject to a number of risks not associated with larger, more established companies, potentially making their stock prices more volatile and increasing the risk of loss.

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Small

#### Company

#### Risk
Small

company

stocks

present

above-average

risks.

This

means

that

when

stock

prices

decline

overall,

the

Portfolios

may

decline

more

than

a

broad-based

securities

market

index.

These

companies

usually

offer

a

smaller

range

of

products

and

services

than

larger

companies.

They

may

also

have

limited

financial

resources

and

may

lack

management

depth.

As

a

result,

stocks

issued

by

smaller

companies

tend

to

be

less

liquid

and

fluctuate

in

value

more

than

the

stocks

of

larger,

more

established

companies.

#### Fixed

#### Income

#### Risk
The

value

of

the

Funds'

direct

or

indirect

investments

in

fixed

income

securities

changes

in

response

to

various

factors,

including,

for

example,

market-related

factors

(such

as

changes

in

interest

rates

or

changes

in

the

risk

appetite

of

investors

generally)

and

changes

in

the

actual

or

perceived

ability

of

the

issuer

(or

of

issuers

generally)

to

meet

its

(or

their)

obligations.

#### Foreign

#### Securities

#### Risk
Foreign

securities

(including

depositary

receipts)

are

subject

to

political,

regulatory,

and

economic

risks

not

present

in

domestic

investments.

Foreign

securities

could

be

affected

by

factors

not

present

in

the

U.S.

including

expropriation,

confiscation

of

property,

and

difficulties

in

enforcing

contracts.

Compared

to

U.S.

companies,

there

generally

is

less

publicly

available

information

about

foreign

companies

and

there

may

be

less

governmental

regulation

and

supervision

of

foreign

companies.

Foreign

securities

generally

experience

more

volatility

than

their

domestic

counterparts.

Depositary

receipts

may

have

additional

risks,

including

creditworthiness

of

the

depositary

bank

and

the

risk

of

an

illiquid

market.

In

addition,

to

the

extent

investments

are

made

in

a

limited

number

of

countries,

events

in

those

countries

will

have

a

more

significant

impact

on

the

Funds.

Fluctuations

in

the

exchange

rates

between

the

U.S.

dollar

and

foreign

currencies,

currency

exchange

control

regulations,

and

restrictions

or

prohibitions

on

the

repatriation

of

foreign

currencies

may

negatively

affect

an

investment.

6. #### FEDERAL

#### INCOME

#### TAX

#### INFORMATION:
The

tax

characteristics

of

distributions

paid

to

shareholders

during

the

year/period

ended

December

31,

2024

were

as

follows:

At

December

31,

2024

,

the

Funds

had

net

capital

loss

carry

forwards

("CLCFs")

for

federal

income

tax

purposes

which

are

available

to

reduce

the

future

capital

gain

distributions

to

shareholders.

CLCFs

not

subject

to

expiration:

As

of

December

,

2024

,

the

cost

basis

for

federal

income

tax

purposes,

gross

unrealized

appreciation,

gross

unrealized

depreciation

and

net

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### Distributions

#### Paid

#### From:

#### Fund

#### Ordinary

#### Income

#### Net

#### Long-Term

#### Gains

#### Total

#### Taxable

#### Distributions

#### Tax-Exempt

#### Distributions

#### Return

#### of

#### Capital

#### Total

#### Distributions

#### Paid

#### \*
US

Small

Cap

Core

ETF

$

1,405,308

$

—

$

1,405,308

$

—

$

—

$

1,405,308

US

Large/Mid

Cap

Core

ETF

2,166,878

—

2,166,878

—

—

2,166,878

High

Dividend

Stock

ETF

4,895,565

—

4,895,565

—

—

4,895,565

International

ETF

3,111,526

—

3,111,526

—

—

3,111,526

US

Large/Mid

Cap

Core

Enhanced

ETF

633,632

—

633,632

—

—

633,632

High

Dividend

Stock

Enhanced

ETF

1,413,960

—

1,413,960

—

—

1,413,960

Market

Neutral

ETF

1,688,176

—

1,688,176

—

—

1,688,176

\*

Total

distributions

paid

may

differ

from

the

Statement

of

Changes

in

Net

Assets

because

distributions

are

recognized

when

actually

paid

for

tax

purposes.

#### Fund

#### Short-Term

#### Amount

#### Long-Term

#### Amount

#### Total
US

Small

Cap

Core

ETF

$

(12,849,415)

$

(7,288,580)

$

(20,137,995)

US

Large/Mid

Cap

Core

ETF

(13,673,827)

(14,281,333)

(27,955,160)

High

Dividend

Stock

ETF

(15,152,605)

(12,452,435)

(27,605,040)

International

ETF

(4,111,567)

(5,675,713)

(9,787,280)

US

Large/Mid

Cap

Core

Enhanced

ETF

(9,724,185)

(2,763,501)

(12,487,686)

High

Dividend

Stock

Enhanced

ETF

(11,217,103)

(590,285)

(11,807,388)

Market

Neutral

ETF

(2,435,242)

(3,723,977)

(6,159,219)

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

unrealized

appreciation

(depreciation)

for

investments

were

as

follows:

7. #### SEGMENT

#### REPORTING:
In

this

reporting

period,

the

Funds

adopted

FASB

Accounting

Standards

Update

2023-07,

Segment

Reporting

(Topic

280):

Improvements

to

Reportable

Segment

Disclosures.

Adoption

of

the

new

standard

impacted

financial

statement

disclosures

only

and

did

not

affect

each

Fund's

financial

position

or

the

results

of

its

operations.

The

Adviser's

Management

Committee acts

as

each

Fund's

Chief

Operating

Decision

Maker

("CODM").

Each

Fund

represents

a

single

operating

segment,

as

the

CODM

monitors

the

operating

results

of

each

Fund

as

a

whole

and

the

Fund's

long-term

strategic

asset

allocation

is

pre-determined

in

accordance

with

the

Fund's

single

investment

objective.

The

financial

information

in

the

form

of

the

Funds'

portfolio

composition,

total

returns,

expense

ratios,

and

changes

in

net

assets,

which

are

used

by

the

CODM

to

assess

the

segment's

performance

versus

each

Fund's

comparative

benchmarks

and

to

make

resource

allocation

decisions

for

the

Fund's

single

segment,

is

consistent

with

that

presented

within

each

Fund's

financial

statements.

Segment

assets

are

reflected

on

the

accompanying

Statements

of

Assets

and

Liabilities

as

"total

assets"

and

significant

segment

expenses

are

listed

on

the

accompanying

Statements

of

Operations.

8. #### SUBSEQUENT

#### EVENTS:
Management

has

evaluated

subsequent

events

through

the

date

these

financial

statements

were

issued.

#### Market

#### Neutral

#### ETF

#### Liquidation
On

May

30,

2025,

on

the

recommendation

of

Timothy

Partners,

Ltd.,

the

Trust's

investment

adviser,

the

Trust's

Board

of

Trustees

voted

to

close

and

liquidate

the

Market

Neutral

ETF

(the

"Fund").

The

Fund

will

create

and

redeem

creation

units

through

July

22,

2025,

which

will

also

be

the

last

day

of

trading

of

the

Fund's

shares

on

the

NYSE

Arca,

Inc.,

the

Fund's

principal

U.S.

listing

exchange.

The

Fund

will

cease

operations,

liquidate

its

assets,

and

prepare

to

distribute

proceeds

to

shareholders

of

record

on

or

about

July

29,

2025,

(the

"Liquidation

Date").

#### Tax-Free

#### Merger/Reorganization
On

July

25,

2025,

at

the

recommendation

of

Timothy

Partners,

Ltd.,

the

Trust's

investment

adviser,

the

Board

of

Trustees

of

The

Timothy

Plan

(the

"Trust")

approved

the

tax-free

merger

of

the

Timothy

Plan

US

Large/Mid

Cap

Core

Enhanced

ETF

(the

"Acquired

Fund")

into

the

Timothy

Plan

US

Large/Mid

Cap

Core

ETF

(the

"Acquiring

Fund")

and

the

merger

of

the

Timothy

Plan

High

Dividend

Stock

Enhanced

ETF

(the

"Acquired

Fund")

into

the

Timothy

Plan

High

Dividend

ETF

(the

"Acquiring

Fund")

each

a

series

of

the

Trust

(each

of

the

Acquired

Fund

and

Acquiring

Fund

may

be

referred

to

as

a

"Fund,"

and

together,

the

"Funds")

(the

"Reorganization").

The

Acquired

Funds

and

the

Acquiring

Funds

are

each

index

funds

and

have

similar,

but

not

identical,

principal

investment

strategies.

The

Funds

are

managed

by

the

same

investment

adviser,

investment

sub-adviser

and

portfolio

managers.

The

Reorganization

is

expected

to

occur

on

or

about

October

3,

2025. #### Distributions
Subsequent

to

June

30,

2025,

the

Funds

paid

a

distribution

from

ordinary

income

for

the

following

amounts:

#### Fund

#### Cost

#### of

#### Investments

#### for

#### Federal

#### Tax

#### Purposes

#### Gross

#### Unrealized

#### Appreciation

#### Gross

#### Unrealized

#### Depreciation

#### Net

#### Unrealized

#### Appreciation
(Depreciation)

US

Small

Cap

Core

ETF

$

150,988,840

$

24,003,355

$

(5,843,988)

$

18,159,367

US

Large/Mid

Cap

Core

ETF

232,489,040

42,868,914

(8,842,357)

34,026,557

High

Dividend

Stock

ETF

225,976,647

22,400,740

(11,588,055)

10,812,685

International

ETF

103,287,049

15,005,571

(7,264,011)

7,741,560

US

Large/Mid

Cap

Core

Enhanced

ETF

65,977,692

9,354,103

(5,014,255)

4,339,848

High

Dividend

Stock

Enhanced

ETF

63,134,650

6,622,283

(5,330,594)

1,291,689

Market

Neutral

ETF

34,404,664

3,861,770

(1,881,163)

1,980,607

#### Notes

#### to

#### Financial

#### Statements

#### -

#### continued
June

30,

2025

(Unaudited)

#### Timothy

#### Plan

#### Fund

#### 7/10/2025

#### 8/6/2025
US

Small

Cap

Core

ETF

$

203,225

$

36,281

US

Large/Mid

Cap

Core

ETF

208,644

60,472

High

Dividend

Stock

ETF

489,489

247,096

International

ETF

273,659

7,868

US

Large/Mid

Cap

Core

Enhanced

ETF

12,650

3,595

High

Dividend

Stock

Enhanced

ETF

42,028

21,082

Market

Neutral

ETF

129,197

N/A

#### Approval

#### of

#### Investment

#### Advisory

#### and

#### Sub-Advisory

#### Agreement
June

30,

2025

#### Timothy

#### Plan

Investment

Advisory

Agre

ement

between

the

Trust

and

Timothy

Partners,

Ltd.

("TPL")

At

an

in-person

meeting

held

on

February

20,

2025,

the

Trustees

considered

the

Investment

Advisory

Agreement

between

the

Trust

and

Timothy

Partners,

Ltd.

(the

"Advisor"

or

"TPL")

for

the

U.S.

Large

Cap

Core

ETF,

High

Dividend

Yield

ETF,

U.S.

Small

Cap

Core

ETF,

Market

Neutral

ETF,

International

ETF,

U.S.

Large/Mid

Core

Enhanced

ETF

and

High

Dividend

Stock

Enhanced

ETF

(each,

a

"Fund"

and

together,

the

"Funds").

Fund

counsel

reviewed

the

standards

of

review

required

of

Trustees,

and

Independent

Trustees

in

particular,

with

respect

to

the

renewal

of

advisory

and

sub-advisory

agreements.

The

Trustees

reviewed

the

2025

Annual

Investment

Advisory

Agreement

Renewal

Questionnaire

responses

provided

by

TPL

and

the

materials

provided

by

the

Advisor

in

support

of

the

continuance

of

the

Investment

Advisory

Agreement,

including,

including,

among

other

things,

the

Advisor's

financial

statements,

Form

ADV,

Compliance

Policies

and

Procedures

Manual,

information

regarding

the

Advisor's

key

personnel

and

brokerage

policies,

and

comparative

expense

and

performance

information.

The

Trustees

considered

the

following

factors,

among

others,

in

connection

with

determining

whether

to

approve

the

continuance

of

the

Investment

Advisory

Agreement.

The

Trustees

received

and

considered

information

regarding

the

nature,

extent

and

quality

of

services

provided

to

the

Funds

by

the

Advisor.

The

Trustees

specifically

reviewed

the

qualifications,

backgrounds,

and

responsibilities

of

the

key

personnel

who

oversee

the

investment

management

and

day-to-day

operations

of

the

Funds.

The

Trustees

considered

that

the

Advisor

has

a

staff

of

skilled

investment

professionals

who

provide

research

and

monitoring

services

to

the

Funds

and

determined

that

the

Advisor

possesses

adequate

resources

to

manage

the

Funds.

The

Trustees

also

considered

the

Advisor's

compliance

program

and

noted

the

resources

it

has

dedicated

towards

compliance,

including

providing

a

qualified

compliance

officer

to

oversee

its

compliance

program.

The

Trustees

also

considered

the

Advisor's

experience

and

consistency

in

incorporating

and

implementing

the

unique,

biblically-based

management

style

that

is

a

stated

objective

of

all

the

Funds,

as

set

forth

in

the

Funds'

prospectus.

The

Trustees

noted

that

the

Advisor

had

managed

the

Funds

since

their

inceptions,

had

implemented

and

provided

continuous

monitoring

of

the

Biblically

Responsible

Investing

("BRI")

screens

utilized

by

the

Trust,

oversaw

and

monitored

the

ongoing

activities

of

the

Funds'

sub-advisor,

and

provided

general

management

services

to

the

Trust.

The

Trustees

next

considered

the

investment

performance

of

each

Fund

and

the

Advisor's

performance

in

monitoring

the

investment

manager

of

the

Funds.

The

Trustees

noted

that

comprehensive

performance

information

had

been

provided

for

each

Fund

at

each

Trustees'

Meeting,

and

the

Trustees

incorporated

that

information

into

their

considerations.

The

Board

noted

that

each

of

the

Funds

has

a

strategy

to

track

a

specific

benchmark

and

they

considered

how

the

performance

of

each

Fund

compared

to

such

Fund's

respective

benchmark

and

peer

group

while

acknowledging

that

the

BRI

screening

process

employed

by

the

Advisor

disqualified

a

number

of

issuers

that

constituted

major

components

of

the

Funds'

benchmark

indices

and

did

not

apply

to

the

funds

in

the

peer

groups.

After

review

of

the

Funds'

performance

over

time,

the

Trustees

concluded

that

each

Fund's

performance

was

satisfactory,

and

that

the

Advisor

was

performing

its

responsibilities

in

a

professional

manner.

The

Trustees

next

reviewed

the

contractual

investment

advisory

fee

rates

payable

by

the

Funds,

noting

that

each

Fund

has

a

unitary

management

fee.

As

a

part

of

their

review,

the

Trustees

considered

each

Fund's

unitary

management

fee

and

total

expense

ratio

compared

to

similar

funds.

The

Trustees

#### Approval

#### of

#### Investment

#### Advisory

#### and

#### Sub-Advisory

#### Agreement

#### -

#### continued
June

30,

2025

#### Timothy

#### Plan

considered

the

fees

charged

by

the

Advisor

in

light

of

the

services

provided

to

the

Funds

by

the

Advisor,

the

unique

nature

of

the

Funds

and

their

BRI

screening

requirements,

and

the

Advisor's

role

as

a

manager

of

managers.

After

full

and

careful

consideration

of

the

materials

presented

to

the

Trustees,

the

Trustees

made

the

following

conclusions:

The

fees

charged

by

the

Advisor

for

each

Fund

were

not

as

low

as

some

of

its

competitors

with

similar

screens,

but

the

fees

were

not

as

high

or

higher

than

other

competitors.

The

Trustees

concluded

that

the

fees

were

not

so

high

as

to

fall

outside

the

range

of

fees

negotiated

at

arm's

length.

After

review

of

the

facts

and

circumstances

applicable

to

this

Trust,

the

Trustees

agreed

that

the

fees

charged

by

the

Advisor

were

fair

and

reasonable

in

light

of

the

services

provided

to

the

Funds.

The

Trustees

also

discussed

the

Advisor's

current

fee

structure

and

whether

such

structure

would

allow

the

Funds

to

realize

economies

of

scale

as

they

grow.

The

Trustees

noted

that

the

current

fee

structure

did

not

include

breakpoints

that

would

reduce

the

Advisor's

fee

rate

as

the

Funds

grow

in

assets,

but

the

Trustees

noted

that

the

Funds

currently

were

not

large

enough

to

realize

meaningful

economies

of

scale.

The

Trustees

then

reviewed

the

internal

operations

of

the

Advisor

and

examined

whether

the

Advisor

received

any

ancillary

benefits

from

its

relationship

with

the

Trust.

The

Trustees

noted

that

the

Advisor's

business

was

devoted

exclusively

to

serving

the

Funds,

and

that

the

Advisor

did

not

realize

any

material

ancillary

benefits

or

profits

deriving

from

its

relationship

with

the

Funds

other

than

advisory

fees.

After

full

consideration

of

the

above

factors

as

well

as

other

factors,

the

Board,

with

the

Independent

Trustees

voting

separately,

unanimously

concluded

that

approval

of

the

continuance

of

the

Investment

Advisory

Agreement

was

in

the

best

interest

of

the

Funds

and

their

shareholders.

In

arriving

at

this

conclusion,

the

Trustees

noted

that

no

single

factor

was

responsible

for

the

Trustees'

decision

to

approve

the

continuation

of

the

Investment

Advisory

Agreement,

and

each

Trustee

weighed

the

factors

independently

in

coming

to

his

or

her

own

conclusions

..

Further,

the

Independent

Trustees

were

advised

by

counsel

during

their

consideration

of

the

Advisory

Agreement

renewal

and

the

Sub-Advisor

Agreement

renewals.

Victory

Capital

Management,

Inc.

;

Sub-Advisor

to

each

of

the

Funds.

The

Trustees

next

considered

the

Sub-Advisory

Agreement

between

the

Trust,

TPL

and

Victory

Capital

Management,

Inc.

("Victory"),

on

behalf

of

each

Fund.

The

Trustees

reviewed

the

2025

Annual

Investment

Sub-Advisory

Agreement

Renewal

Questionnaire

for

Victory

and

reviewed

the

materials

provided

by

Victory

in

support

of

the

continuance

of

the

Investment

Sub-Advisory

Agreement

(the

"Sub-Advisory

Agreement"),

including,

among

other

things,

Victory's

financial

statements,

Form

ADV,

the

Compliance

Policies

and

Procedures

Manual,

information

regarding

Victory's

key

personnel

and

brokerage

policies,

and

comparative

expense

and

performance

information.

The

Trustees

considered

the

following

factors,

among

others,

in

connection

with

determining

whether

to

approve

the

continuance

of

the

Sub-Advisory

Agreement.

The

Trustees

first

noted

that

TPL

recommended

that

the

Sub-Advisory

Agreement

should

be

renewed

for

an

additional

year.

The

Trustees

received

and

considered

information

regarding

the

nature,

extent

and

quality

of

services

provided

to

each

Fund

by

Victory.

The

Trustees

reviewed

the

qualifications,

backgrounds,

and

responsibilities

of

the

key

personnel

who

oversee

the

investment

management

and

day-to-day

operations

of

the

Funds.

The

Trustees

considered

that

Victory

has

a

staff

of

skilled

investment

professionals

who

provide

research

and

trading

services

to

the

Fund

and

determined

that

Victory

possesses

adequate

resources

to

manage

the

Funds.

The

Trustees

also

considered

Victory's

compliance

program

and

noted

the

resources

it

has

dedicated

towards

compliance,

including

#### Approval

#### of

#### Investment

#### Advisory

#### and

#### Sub-Advisory

#### Agreement

#### -

#### continued
June

30,

2025

#### Timothy

#### Plan

providing

a

qualified

compliance

officer

to

oversee

its

compliance

program.

The

Trustees

next

considered

the

investment

performance

of

the

Funds

and

Victory's

performance

in

managing

the

Funds.

The

Trustees

noted

that

comprehensive

performance

information

had

been

provided

for

the

Funds

at

each

Trustees

Meeting,

and

the

Trustees

incorporated

that

information

into

their

considerations.

As

each

Fund

is

an

index-based

ETF,

the

Board

additionally

reviewed

information

regarding

each

Fund's

performance

as

compared

to

its

respective

underlying

index

for

various

time

periods.

The

Board

noted

management's

explanation

that

analysis

of

investment

performance,

in

absolute

terms,

is

less

relevant

for

index-based

Funds

than

it

is

for

actively

managed

funds,

given

the

Funds'

index-based

investment

objectives.

The

Board

also

noted

management's

further

explanation

that

it

is

more

relevant

to

review

the

performance

of

the

Funds

by

focusing

on

the

extent

to

which

each

Fund

tracked

its

underlying

index.

The

Board

reviewed

information

regarding

each

Fund's

index

tracking,

discussing,

as

applicable,

factors

which

contributed

to

each

Fund's

tracking

error.

After

reviewing

each

Fund's

performance

over

time,

the

Trustees

concluded

that

the

Funds'

performance

was

satisfactory,

and

that

Victory

was

performing

its

responsibilities

in

a

professional

manner.

The

Trustees

noted

that

the

fees

payable

to

Victory

were

paid

by

the

Advisor

out

of

the

unitary

management

fees

received.

Accordingly,

the

Trustees'

inquiry

was

limited

to

whether

those

fees

represented

a

fair

percentage

of

the

overall

fees

paid

to

the

Advisor

by

each

Fund

in

light

of

the

services

provided

by

Victory.

After

full

and

careful

consideration,

the

Trustees

agreed

that

the

fees

charged

by

Victory

and

paid

out

of

the

fees

received

by

the

Advisor

were

fair

and

reasonable

in

light

of

the

services

provided

by

Victory.

The

Independent

Trustees

considered

the

economies

of

scale

and

decided

that

this

particular

factor

was

not

relevant

with

respect

to

the

Sub-Advisory

Agreement

because

Victory

was

paid

out

of

the

fees

paid

to

Advisor.

The

Independent

Trustees

also

considered

any

"fallout"

benefits

to

Victory

with

respect

to

the

Fund.

After

full

consideration

of

the

above

factors

as

well

as

other

factors,

the

Board,

with

the

Independent

Trustees

voting

separately,

unanimously

concluded

that

approval

of

the

continuance

of

the

Sub-Advisory

Agreement

was

in

the

best

interest

of

each

Fund

and

its

shareholders.

In

arriving

at

this

conclusion,

the

Trustees

noted

that

no

single

factor

was

responsible

for

the

Trustees'

decision

to

approve

the

continuation

of

the

Sub-Advisory

Agreement,

and

each

Trustee

weighed

the

factors

independently

in

coming

to

his

or

her

own

conclusions.

Visit

our

website

at

#### etf.timothyplan.com
Call

Timothy

Plan

at

800.846.7526 Timothy

Plan

1055

Maitland

Center

Commons

Maitland,

Florida

32751

#### PAST

#### PERFORMANCE

#### DOES

#### NOT

#### GUARANTEE

#### FUTURE

#### RESULTS,

#### AND

#### YOU

#### MAY

#### LOSE

#### MONEY.
You

should

consider

the

Fund's

investment

objectives,

risks,

charges,

and

expenses.

This

and

other

important

information

can

be

found

in

the

Fund's

prospectus.

To

obtain

a

copy,

visit

timothyplan.com

or

call

800.846.7526. Read

the

prospectus

carefully

before

investing

or

sending

money.

ETFs

distributed

by

Foreside

Fund

Services,

LLC,

member

FINRA

and

SIPC.

Timothy

Partners,

Ltd.

is

not

affiliated

with

Foreside

Fund

Services,

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

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

Not applicable.

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

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

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

Not applicable.

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

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

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

Not applicable.

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

Not applicable.

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

Not applicable.

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

Not applicable.

**Item 16. Controls and Procedures.**

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

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

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

Not applicable.

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

Not applicable.

**Item 19. Exhibits.**

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

(a)(2) Not applicable.

(a)(3) [The certifications required by Rule 30a-2(a) of the Investment Company Act of 1940 are attached hereto.](ex99.htm)

(b) [The certifications required by Rule 30a-2(b) of the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto](ex99906.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) <u>Timothy Plan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

By (Signature and Title) <u>/s/ Greg Ally&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greg Ally, Treasurer and Principal Financial Officer

Date &nbsp;&nbsp;&nbsp;&nbsp; <u>September 5, 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) <u>/s/ Brian Mumbert&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brian Mumbert, President and Principal Executive Officer

Date &nbsp;&nbsp;&nbsp;&nbsp; <u>September 5, 2025</u>

By (Signature and Title) <u>/s/ Greg Ally&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greg Ally, Treasurer and Principal Financial Officer

Date &nbsp;&nbsp;&nbsp;&nbsp; <u>September 5, 2025</u>

## Ex-99.Cert

<u>Section 302 – CERTIFICATIONS</u>

I, Brian Mumbert, certify that:

1. I have reviewed this report on Form N-CSR of Timothy Plan (the "registrant");

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:

a)

&nbsp;&nbsp;&nbsp;&nbsp; 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;

b)

&nbsp;&nbsp;&nbsp;&nbsp; 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;

c)

&nbsp;&nbsp;&nbsp;&nbsp; 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

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):

a)

&nbsp;&nbsp;&nbsp;&nbsp; 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

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.

<u>September 5, 2025&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>_

Date

/s/ Brian Mumbert

Brian Mumbert

President and Principal Executive Officer

<u>Section 302 – CERTIFICATIONS</u>

I, Greg Ally, certify that:

1. I have reviewed this report on Form N-CSR of Timothy Plan (the "registrant");

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:

d)

&nbsp;&nbsp;&nbsp;&nbsp; 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;

e)

&nbsp;&nbsp;&nbsp;&nbsp; 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;

f)

&nbsp;&nbsp;&nbsp;&nbsp; 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

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):

b)

&nbsp;&nbsp;&nbsp;&nbsp; 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

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.

<u>September 5, 2025&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>_

Date

/s/ Greg Ally

Greg Ally

Treasurer and Principal Financial Officer

## Exhibit 99.906

<u>Section 906 – CERTIFICATIONS</u>

This certification is provided pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1350, and accompanies the report on Form N-CSR for the period ended June 30, 2025, of Timothy Plan (the "Registrant").

Each of the undersigned, being the Principal Executive Officer and Principal Financial Officer of the Registrant, hereby certifies that, to such officer's knowledge:

1. &nbsp;&nbsp;&nbsp;&nbsp;

the Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

2. &nbsp;&nbsp;&nbsp;&nbsp;

the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

<u>September 5, 2025&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>_

Date

/s/ Brian Mumbert

Brian Mumbert

President and Principal Executive Officer

/s/ Greg Ally

Greg Ally

Treasurer and Principal Financial Officer

This certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of Form N-CSR or as a separate disclosure document. A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.