# EDGAR Filing Document

**Accession Number:** 0000914243
**File Stem:** 0001193125-26-076384
**Filing Date:** 2026-2
**Character Count:** 348539
**Document Hash:** 74f51c85599d96ddd12c574316e73356
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-076384.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-076384

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOUCHSTONE FUNDS GROUP TRUST
- **CENTRAL INDEX KEY:** 0000914243

**ORGANIZATION NAME:**
- **EIN:** 680325521
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08104
- **FILM NUMBER:** 26687284

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSTELLATION FUNDS
- **DATE OF NAME CHANGE:** 20040412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALPHA SELECT FUNDS
- **DATE OF NAME CHANGE:** 19981216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIP INSTITUTIONAL FUNDS
- **DATE OF NAME CHANGE:** 19971205

## Series and Classes Contracts Data

### TOUCHSTONE MID CAP FUND (Series ID: S000005842)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000016016 | Class Y       | TMCPX           |
| C000039629 | Class Z       | TMCTX           |
| C000048891 | Class A       | TMAPX           |
| C000048892 | Class C       | TMCJX           |
| C000112484 | Institutional | TMPIX           |
| C000226003 | Class R6      | TMPRX           |

## Nport-Ex

Portfolio of Investments

Touchstone Active Bond Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1%** |  |
|  | &nbsp;&nbsp;**Financials — 10.3%** |  |
| $783000 | &nbsp;&nbsp;AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 3.000%, 10/29/28 | $759376 |
| &nbsp;&nbsp; 666000 | &nbsp;&nbsp;Aircastle Ltd. / Aircastle Ireland DAC, 144a, 5.000%, 9/15/30 | &nbsp;&nbsp; 672731 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 7.000%, 1/15/31 | &nbsp;&nbsp; 41499 |
| &nbsp;&nbsp; 101000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.051%, 8/15/53<sup>(A)</sup> | &nbsp;&nbsp; 101021 |
| &nbsp;&nbsp; 1107000 | &nbsp;&nbsp;American Express Co., 5.282%, 7/27/29 | &nbsp;&nbsp; 1140490 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Asurion LLC and Asurion Co-Issuer, Inc., 144a, 8.000%, 12/31/32 | &nbsp;&nbsp; 41500 |
| &nbsp;&nbsp; 672000 | &nbsp;&nbsp;Bank of America Corp., 2.687%, 4/22/32 | &nbsp;&nbsp; 617285 |
| &nbsp;&nbsp; 647000 | &nbsp;&nbsp;Bank of America Corp., 3.705%, 4/24/28 | &nbsp;&nbsp; 644132 |
| &nbsp;&nbsp; 862000 | &nbsp;&nbsp;Bank of America Corp., 5.511%, 1/24/36 | &nbsp;&nbsp; 901234 |
| &nbsp;&nbsp; 775000 | &nbsp;&nbsp;Bank of Montreal (Canada), 3.803%, 12/15/32 | &nbsp;&nbsp; 765917 |
| &nbsp;&nbsp; 862000 | &nbsp;&nbsp;Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | &nbsp;&nbsp; 930681 |
| &nbsp;&nbsp; 1282000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 2.894%, 11/24/32 | &nbsp;&nbsp; 1166413 |
| &nbsp;&nbsp; 522000 | &nbsp;&nbsp;Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | &nbsp;&nbsp; 439679 |
| &nbsp;&nbsp; 1505000 | &nbsp;&nbsp;Citigroup, Inc., 4.542%, 9/19/30 | &nbsp;&nbsp; 1518072 |
| &nbsp;&nbsp; 550000 | &nbsp;&nbsp;Citigroup, Inc., 6.174%, 5/25/34 | &nbsp;&nbsp; 584979 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 38671 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 26031 |
| &nbsp;&nbsp; 17000 | &nbsp;&nbsp;CrossCountry Intermediate HoldCo LLC, 144a, 6.500%, 10/1/30 | &nbsp;&nbsp; 17339 |
| &nbsp;&nbsp; 666000 | &nbsp;&nbsp;First Maryland Capital I, (TSFR3M + 1.262%), 5.166%, 1/15/27<sup>(A)</sup> | &nbsp;&nbsp; 659515 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;FirstCash, Inc., 144a, 4.625%, 9/1/28 | &nbsp;&nbsp; 18879 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 6.875%, 5/1/31 | &nbsp;&nbsp; 12010 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 7.875%, 4/1/33 | &nbsp;&nbsp; 5188 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 49119 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 9.250%, 12/1/28 | &nbsp;&nbsp; 56550 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 6.875%, 5/15/30 | &nbsp;&nbsp; 18135 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 7.625%, 7/1/29 | &nbsp;&nbsp; 12860 |
| &nbsp;&nbsp; 1031000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | &nbsp;&nbsp; 940951 |
| &nbsp;&nbsp; 454000 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | &nbsp;&nbsp; 451624 |
| &nbsp;&nbsp; 585000 | &nbsp;&nbsp;Guardian Life Global Funding, 144a, 4.327%, 10/6/30 | &nbsp;&nbsp; 586594 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;Jane Street Group / JSG Finance, Inc., 144a, 6.125%, 11/1/32 | &nbsp;&nbsp; 43759 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Jane Street Group / JSG Finance, Inc., 144a, 6.750%, 5/1/33 | &nbsp;&nbsp; 16701 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Jefferson Capital Holdings LLC, 144a, 8.250%, 5/15/30 | &nbsp;&nbsp; 21026 |
| &nbsp;&nbsp; 1083000 | &nbsp;&nbsp;JPMorgan Chase & Co., 2.956%, 5/13/31 | &nbsp;&nbsp; 1022509 |
| &nbsp;&nbsp; 831000 | &nbsp;&nbsp;JPMorgan Chase & Co., 3.509%, 1/23/29 | &nbsp;&nbsp; 823292 |
| &nbsp;&nbsp; 774000 | &nbsp;&nbsp;JPMorgan Chase & Co., 4.946%, 10/22/35 | &nbsp;&nbsp; 783333 |
| &nbsp;&nbsp; 1047000 | &nbsp;&nbsp;Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29 | &nbsp;&nbsp; 1097908 |
| &nbsp;&nbsp; 774000 | &nbsp;&nbsp;Marsh & McLennan Cos., Inc., 5.350%, 11/15/44 | &nbsp;&nbsp; 759896 |
| &nbsp;&nbsp; 822000 | &nbsp;&nbsp;Morgan Stanley, 2.484%, 9/16/36 | &nbsp;&nbsp; 723692 |
| &nbsp;&nbsp; 813000 | &nbsp;&nbsp;Morgan Stanley, 3.950%, 4/23/27 | &nbsp;&nbsp; 812508 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Navient Corp., 4.875%, 3/15/28<sup>†</sup> | &nbsp;&nbsp; 9888 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Navient Corp., 5.000%, 3/15/27 | &nbsp;&nbsp; 26049 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Navient Corp., 7.875%, 6/15/32 | &nbsp;&nbsp; 10462 |
| &nbsp;&nbsp; 802000 | &nbsp;&nbsp;New York Life Global Funding, 144a, 4.550%, 1/28/33 | &nbsp;&nbsp; 800900 |
| &nbsp;&nbsp; 1022292 | &nbsp;&nbsp;Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | &nbsp;&nbsp; 796789 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;OneMain Finance Corp., 3.875%, 9/15/28 | &nbsp;&nbsp; 18516 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;OneMain Finance Corp., 4.000%, 9/15/30 | &nbsp;&nbsp; 12186 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;OneMain Finance Corp., 6.500%, 3/15/33 | &nbsp;&nbsp; 24243 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;OneMain Finance Corp., 6.625%, 5/15/29 | &nbsp;&nbsp; 15534 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 3/15/26 | &nbsp;&nbsp; 11083 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 9/15/32 | &nbsp;&nbsp; 11428 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 10.3% (Continued)** |  |
| $13000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 5.750%, 9/15/31 | $13054 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.875%, 12/15/29 | &nbsp;&nbsp; 15961 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.125%, 11/15/30 | &nbsp;&nbsp; 15768 |
| &nbsp;&nbsp; 1134000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 4.624%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 1116025 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.375%, 2/1/28 | &nbsp;&nbsp; 10224 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.875%, 1/31/30 | &nbsp;&nbsp; 50692 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 6.500%, 8/1/29 | &nbsp;&nbsp; 16502 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 43132 |
| &nbsp;&nbsp; 940000 | &nbsp;&nbsp;Royal Bank of Canada (Canada), 4.969%, 8/2/30 | &nbsp;&nbsp; 963467 |
| &nbsp;&nbsp; 81000 | &nbsp;&nbsp;SBL Holdings, Inc., 144a, 9.508%<sup>(B)</sup> | &nbsp;&nbsp; 82620 |
| &nbsp;&nbsp; 1548000 | &nbsp;&nbsp;State Street Corp., (TSFR3M + 1.262%), 4.985%, 6/15/47<sup>(A)</sup> | &nbsp;&nbsp; 1383079 |
| &nbsp;&nbsp; 1614000 | &nbsp;&nbsp;Teachers Insurance & Annuity Association of America, 144a, 3.300%, 5/15/50 | &nbsp;&nbsp; 1110759 |
| &nbsp;&nbsp; 1625000 | &nbsp;&nbsp;Truist Financial Corp., Ser A, (TSFR3M + 0.932%), 4.783%, 5/15/27<sup>(A)</sup> | &nbsp;&nbsp; 1614984 |
| &nbsp;&nbsp; 684000 | &nbsp;&nbsp;US Bancorp, 4.967%, 7/22/33 | &nbsp;&nbsp; 690101 |
|  |  | &nbsp;&nbsp; 28186545 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.2%** |  |
| &nbsp;&nbsp; 1534000 | &nbsp;&nbsp;7-Eleven, Inc., 144a, 1.800%, 2/10/31 | &nbsp;&nbsp; 1344569 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 59731 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Allison Transmission, Inc., 144a, 4.750%, 10/1/27 | &nbsp;&nbsp; 41944 |
| &nbsp;&nbsp; 19872 | &nbsp;&nbsp;American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 144a, 5.750%, 4/20/29 | &nbsp;&nbsp; 20235 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 6.375%, 10/15/32 | &nbsp;&nbsp; 5091 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 7.750%, 10/15/33 | &nbsp;&nbsp; 5095 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 7.250%, 10/15/29 | &nbsp;&nbsp; 21462 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Beazer Homes USA, Inc., 144a, 7.500%, 3/15/31 | &nbsp;&nbsp; 15211 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 63689 |
| &nbsp;&nbsp; 1026000 | &nbsp;&nbsp;BMW US Capital LLC (Germany), 144a, 4.500%, 8/11/30 | &nbsp;&nbsp; 1031923 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.125%, 5/1/29 | &nbsp;&nbsp; 10111 |
| &nbsp;&nbsp; 75000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.750%, 8/1/32 | &nbsp;&nbsp; 76988 |
| &nbsp;&nbsp; 70000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.875%, 6/15/31 | &nbsp;&nbsp; 72303 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Carnival Corp., 144a, 6.125%, 2/15/33 | &nbsp;&nbsp; 10326 |
| &nbsp;&nbsp; 52000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 50038 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Century Communities, Inc., 144a, 6.625%, 9/15/33 | &nbsp;&nbsp; 28305 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;Champ Acquisition Corp., 144a, 8.375%, 12/1/31 | &nbsp;&nbsp; 46451 |
| &nbsp;&nbsp; 150000 | &nbsp;&nbsp;Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | &nbsp;&nbsp; 153001 |
| &nbsp;&nbsp; 1016000 | &nbsp;&nbsp;Delta Air Lines, Inc. / SkyMiles IP Ltd., 144a, 4.750%, 10/20/28 | &nbsp;&nbsp; 1022274 |
| &nbsp;&nbsp; 1118000 | &nbsp;&nbsp;Ferguson Enterprises, Inc., 4.350%, 3/15/31 | &nbsp;&nbsp; 1115131 |
| &nbsp;&nbsp; 866000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 3.100%, 1/12/32 | &nbsp;&nbsp; 790428 |
| &nbsp;&nbsp; 724000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 4.700%, 10/7/30 | &nbsp;&nbsp; 721091 |
| &nbsp;&nbsp; 608000 | &nbsp;&nbsp;Gildan Activewear, Inc. (Canada), 144a, 5.400%, 10/7/35 | &nbsp;&nbsp; 607472 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Goodyear Tire & Rubber Co. (The), 5.625%, 4/30/33 | &nbsp;&nbsp; 21786 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 4.000%, 8/15/28 | &nbsp;&nbsp; 47058 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Group 1 Automotive, Inc., 144a, 6.375%, 1/15/30 | &nbsp;&nbsp; 11322 |
| &nbsp;&nbsp; 481000 | &nbsp;&nbsp;Home Depot, Inc. (The), 5.950%, 4/1/41 | &nbsp;&nbsp; 516212 |
| &nbsp;&nbsp; 847000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.350%, 3/19/29 | &nbsp;&nbsp; 871855 |
| &nbsp;&nbsp; 48000 | &nbsp;&nbsp;JB Poindexter & Co., Inc., 144a, 8.750%, 12/15/31 | &nbsp;&nbsp; 50279 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;LGI Homes, Inc., 144a, 7.000%, 11/15/32 | &nbsp;&nbsp; 28676 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Light & Wonder International, Inc., 144a, 6.250%, 10/1/33 | &nbsp;&nbsp; 38459 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Lithia Motors, Inc., 144a, 5.500%, 10/1/30 | &nbsp;&nbsp; 28111 |
| &nbsp;&nbsp; 802000 | &nbsp;&nbsp;Lowe's Cos., Inc., 4.500%, 4/15/30 | &nbsp;&nbsp; 812771 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 5.2% (Continued)** |  |
| $842000 | &nbsp;&nbsp;Mattel, Inc., 5.450%, 11/1/41 | $793749 |
| &nbsp;&nbsp; 1238000 | &nbsp;&nbsp;Meritage Homes Corp., 144a, 3.875%, 4/15/29 | &nbsp;&nbsp; 1216725 |
| &nbsp;&nbsp; 105000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28 | &nbsp;&nbsp; 100943 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 5.875%, 1/15/31 | &nbsp;&nbsp; 9962 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 6.250%, 9/15/33 | &nbsp;&nbsp; 4997 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;NCL Corp. Ltd., 144a, 6.750%, 2/1/32 | &nbsp;&nbsp; 21502 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Newell Brands, Inc., 6.375%, 9/15/27 | &nbsp;&nbsp; 28110 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Newell Brands, Inc., 6.625%, 5/15/32 | &nbsp;&nbsp; 14552 |
| &nbsp;&nbsp; 13000 | &nbsp;&nbsp;Newell Brands, Inc., 144a, 8.500%, 6/1/28 | &nbsp;&nbsp; 13631 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Nissan Motor Acceptance Co. LLC, 144a, 6.125%, 9/30/30 | &nbsp;&nbsp; 24003 |
| &nbsp;&nbsp; 850000 | &nbsp;&nbsp;Polaris, Inc., 5.600%, 3/1/31 | &nbsp;&nbsp; 859507 |
| &nbsp;&nbsp; 59000 | &nbsp;&nbsp;QXO Building Products, Inc., 144a, 6.750%, 4/30/32 | &nbsp;&nbsp; 61621 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 79635 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.625%, 12/1/31 | &nbsp;&nbsp; 27492 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Taylor Morrison Communities, Inc., 144a, 5.125%, 8/1/30 | &nbsp;&nbsp; 26160 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Taylor Morrison Communities, Inc., 144a, 5.750%, 11/15/32 | &nbsp;&nbsp; 9260 |
| &nbsp;&nbsp; 1116000 | &nbsp;&nbsp;United Airlines, Inc., 144a, 4.625%, 4/15/29 | &nbsp;&nbsp; 1111058 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Upbound Group, Inc., 144a, 6.375%, 2/15/29 | &nbsp;&nbsp; 45422 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Viking Cruises Ltd., 144a, 5.875%, 10/15/33 | &nbsp;&nbsp; 10153 |
| &nbsp;&nbsp; 67000 | &nbsp;&nbsp;Voyager Parent LLC, 144a, 9.250%, 7/1/32 | &nbsp;&nbsp; 71090 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 4.279%, 3/15/32<sup>†</sup> | &nbsp;&nbsp; 20190 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 5.050%, 3/15/42 | &nbsp;&nbsp; 38830 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Whirlpool Corp., 6.500%, 6/15/33 | &nbsp;&nbsp; 27153 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Winnebago Industries, Inc., 144a, 6.250%, 7/15/28 | &nbsp;&nbsp; 10972 |
|  |  | &nbsp;&nbsp; 14366115 |
|  | &nbsp;&nbsp;**Consumer Staples — 4.9%** |  |
| &nbsp;&nbsp; 33000 | &nbsp;&nbsp;ACCO Brands Corp., 144a, 4.250%, 3/15/29 | &nbsp;&nbsp; 30596 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Allied Universal Holdco LLC, 144a, 7.875%, 2/15/31 | &nbsp;&nbsp; 32670 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;AMN Healthcare, Inc., 144a, 6.500%, 1/15/31 | &nbsp;&nbsp; 24006 |
| &nbsp;&nbsp; 572000 | &nbsp;&nbsp;Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | &nbsp;&nbsp; 531469 |
| &nbsp;&nbsp; 1052000 | &nbsp;&nbsp;Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28 | &nbsp;&nbsp; 1040818 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.000%, 2/15/31 | &nbsp;&nbsp; 20554 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | &nbsp;&nbsp; 15523 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.375%, 6/15/32 | &nbsp;&nbsp; 10326 |
| &nbsp;&nbsp; 938000 | &nbsp;&nbsp;BAT Capital Corp. (United Kingdom), 2.259%, 3/25/28 | &nbsp;&nbsp; 902837 |
| &nbsp;&nbsp; 966000 | &nbsp;&nbsp;Cargill, Inc., 144a, 4.760%, 11/23/45 | &nbsp;&nbsp; 875068 |
| &nbsp;&nbsp; 1617000 | &nbsp;&nbsp;Coca-Cola Co. (The), 2.500%, 3/15/51 | &nbsp;&nbsp; 974126 |
| &nbsp;&nbsp; 1094000 | &nbsp;&nbsp;Element Fleet Management Corp. (Canada), 144a, 5.037%, 3/25/30 | &nbsp;&nbsp; 1119165 |
| &nbsp;&nbsp; 982000 | &nbsp;&nbsp;ERAC USA Finance LLC, 144a, 4.200%, 11/1/46 | &nbsp;&nbsp; 817207 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Garda World Security Corp. (Canada), 144a, 6.500%, 1/15/31 | &nbsp;&nbsp; 5116 |
| &nbsp;&nbsp; 1020000 | &nbsp;&nbsp;Global Payments, Inc., 5.200%, 11/15/32 | &nbsp;&nbsp; 1021554 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 5.750%, 3/15/31 | &nbsp;&nbsp; 14215 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 6.000%, 3/15/34 | &nbsp;&nbsp; 14181 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 6.625%, 6/15/29 | &nbsp;&nbsp; 15578 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | &nbsp;&nbsp; 22100 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Ingles Markets, Inc., 144a, 4.000%, 6/15/31 | &nbsp;&nbsp; 33074 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Kaspi.KZ JSC (Kazakhstan), 144a, 6.250%, 3/26/30 | &nbsp;&nbsp; 204881 |
| &nbsp;&nbsp; 536000 | &nbsp;&nbsp;Kroger Co. (The), 5.000%, 4/15/42 | &nbsp;&nbsp; 500933 |
| &nbsp;&nbsp; 728000 | &nbsp;&nbsp;Mars, Inc., 144a, 5.200%, 3/1/35 | &nbsp;&nbsp; 749789 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 6.125%, 9/15/32 | &nbsp;&nbsp; 27835 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 4.9% (Continued)** |  |
| $1393000 | &nbsp;&nbsp;Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31 | $1212119 |
| &nbsp;&nbsp; 1149000 | &nbsp;&nbsp;Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp; 1203497 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 4.625%, 4/15/30 | &nbsp;&nbsp; 24346 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.250%, 10/15/34<sup>†</sup> | &nbsp;&nbsp; 44244 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.500%, 3/15/36 | &nbsp;&nbsp; 23034 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;S&S Holdings LLC, 144a, 8.375%, 10/1/31 | &nbsp;&nbsp; 21082 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 144a, 6.750%, 8/15/32 | &nbsp;&nbsp; 25811 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 59750 |
| &nbsp;&nbsp; 568000 | &nbsp;&nbsp;Starbucks Corp., 3.350%, 3/12/50 | &nbsp;&nbsp; 389000 |
| &nbsp;&nbsp; 98000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 104303 |
| &nbsp;&nbsp; 687000 | &nbsp;&nbsp;Tyson Foods, Inc., 5.400%, 3/15/29 | &nbsp;&nbsp; 709978 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;United Rentals North America, Inc., 144a, 5.375%, 11/15/33 | &nbsp;&nbsp; 11991 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Velocity Vehicle Group LLC, 144a, 8.000%, 6/1/29 | &nbsp;&nbsp; 38952 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;VT Topco, Inc., 144a, 8.500%, 8/15/30 | &nbsp;&nbsp; 40729 |
| &nbsp;&nbsp; 686000 | &nbsp;&nbsp;Walmart, Inc., 4.500%, 9/9/52 | &nbsp;&nbsp; 606527 |
|  |  | &nbsp;&nbsp; 13518984 |
|  | &nbsp;&nbsp;**Energy — 4.1%** |  |
| &nbsp;&nbsp; 142000 | &nbsp;&nbsp;3R Lux Sarl (Brazil), 144a, 9.750%, 2/5/31 | &nbsp;&nbsp; 145905 |
| &nbsp;&nbsp; 1070000 | &nbsp;&nbsp;Aker BP ASA (Norway), 144a, 5.125%, 10/1/34 | &nbsp;&nbsp; 1048674 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Bristow Group, Inc., 144a, 6.875%, 3/1/28 | &nbsp;&nbsp; 39047 |
| &nbsp;&nbsp; 954000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 3.250%, 1/31/32 | &nbsp;&nbsp; 880066 |
| &nbsp;&nbsp; 300000 | &nbsp;&nbsp;Cheniere Energy Partners LP, 4.000%, 3/1/31 | &nbsp;&nbsp; 292437 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Civitas Resources, Inc., 144a, 8.375%, 7/1/28 | &nbsp;&nbsp; 36062 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Crescent Energy Finance LLC, 144a, 7.625%, 4/1/32 | &nbsp;&nbsp; 21330 |
| &nbsp;&nbsp; 1054000 | &nbsp;&nbsp;DCP Midstream Operating LP, 144a, 6.750%, 9/15/37 | &nbsp;&nbsp; 1148361 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Diamond Foreign Asset Co. / Diamond Finance LLC, 144a, 8.500%, 10/1/30 | &nbsp;&nbsp; 9538 |
| &nbsp;&nbsp; 77000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser NC5, 8.250%, 1/15/84 | &nbsp;&nbsp; 82392 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;Energy Transfer LP, 8.000%, 5/15/54 | &nbsp;&nbsp; 30956 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Energy Transfer LP, Ser G, 7.125%<sup>(B)</sup> | &nbsp;&nbsp; 11267 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 7.875%, 5/15/32 | &nbsp;&nbsp; 19804 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.250%, 1/15/29 | &nbsp;&nbsp; 18791 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.875%, 4/15/30 | &nbsp;&nbsp; 32582 |
| &nbsp;&nbsp; 1011000 | &nbsp;&nbsp;HF Sinclair Corp., 5.000%, 2/1/28 | &nbsp;&nbsp; 1011195 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | &nbsp;&nbsp; 23734 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 4/15/30 | &nbsp;&nbsp; 13603 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.875%, 5/15/34 | &nbsp;&nbsp; 17800 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 8.375%, 11/1/33 | &nbsp;&nbsp; 23487 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Kinetik Holdings LP, 144a, 5.875%, 6/15/30 | &nbsp;&nbsp; 38336 |
| &nbsp;&nbsp; 65000 | &nbsp;&nbsp;Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 144a, 6.875%, 12/1/32 | &nbsp;&nbsp; 66827 |
| &nbsp;&nbsp; 544607 | &nbsp;&nbsp;MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | &nbsp;&nbsp; 477600 |
| &nbsp;&nbsp; 988000 | &nbsp;&nbsp;Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | &nbsp;&nbsp; 989872 |
| &nbsp;&nbsp; 1052000 | &nbsp;&nbsp;NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | &nbsp;&nbsp; 1223811 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;Noble Finance II LLC, 144a, 8.000%, 4/15/30 | &nbsp;&nbsp; 6234 |
| &nbsp;&nbsp; 887000 | &nbsp;&nbsp;Occidental Petroleum Corp., 7.950%, 6/15/39 | &nbsp;&nbsp; 1043111 |
| &nbsp;&nbsp; 100000 | &nbsp;&nbsp;Petroleos del Peru SA (Peru), 144a, 4.750%, 6/19/32 | &nbsp;&nbsp; 73750 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 4.1% (Continued)** |  |
| $100000 | &nbsp;&nbsp;Petroleos del Peru SA (Peru), 144a, 5.625%, 6/19/47 | $63563 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Prairie Acquiror LP, 144a, 9.000%, 8/1/29 | &nbsp;&nbsp; 31180 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 55617 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;Rockies Express Pipeline LLC, 144a, 4.800%, 5/15/30 | &nbsp;&nbsp; 4917 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Rockies Express Pipeline LLC, 144a, 7.500%, 7/15/38 | &nbsp;&nbsp; 16321 |
| &nbsp;&nbsp; 1242000 | &nbsp;&nbsp;Sempra Infrastructure Partners LP, 144a, 3.250%, 1/15/32 | &nbsp;&nbsp; 1100708 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;SESI LLC, 144a, 7.875%, 9/30/30 | &nbsp;&nbsp; 37409 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;SM Energy Co., 144a, 6.750%, 8/1/29 | &nbsp;&nbsp; 16118 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 25560 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Sunoco LP, 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 35078 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Sunoco LP, 144a, 5.875%, 3/15/34 | &nbsp;&nbsp; 27997 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Tidewater, Inc., 144a, 9.125%, 7/15/30 | &nbsp;&nbsp; 42931 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 37453 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 7.000%, 1/15/30 | &nbsp;&nbsp; 25023 |
| &nbsp;&nbsp; 81000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 8.125%, 6/1/28 | &nbsp;&nbsp; 82045 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 9.000%<sup>(B)</sup> | &nbsp;&nbsp; 34748 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Weatherford International Ltd., 144a, 6.750%, 10/15/33 | &nbsp;&nbsp; 15359 |
| &nbsp;&nbsp; 827000 | &nbsp;&nbsp;Western Midstream Operating LP, 5.250%, 2/1/50 | &nbsp;&nbsp; 709783 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;YPF SA (Argentina), 144a, 6.950%, 7/21/27 | &nbsp;&nbsp; 35278 |
|  |  | &nbsp;&nbsp; 11223660 |
|  | &nbsp;&nbsp;**Industrials — 4.0%** |  |
| &nbsp;&nbsp; 1057000 | &nbsp;&nbsp;Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | &nbsp;&nbsp; 981051 |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 33375 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 21630 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;BNSF Funding Trust I, 6.613%, 12/15/55 | &nbsp;&nbsp; 44021 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Brundage-Bone Concrete Pumping Holdings, Inc., 144a, 7.500%, 2/1/32 | &nbsp;&nbsp; 44915 |
| &nbsp;&nbsp; 853000 | &nbsp;&nbsp;Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | &nbsp;&nbsp; 903740 |
| &nbsp;&nbsp; 64000 | &nbsp;&nbsp;BWX Technologies, Inc., 144a, 4.125%, 6/30/28 | &nbsp;&nbsp; 63034 |
| &nbsp;&nbsp; 1074000 | &nbsp;&nbsp;Canadian Pacific Railway Co. (Canada), 3.000%, 12/2/41 | &nbsp;&nbsp; 805062 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Cascades, Inc. / Cascades USA, Inc. (Canada), 144a, 5.375%, 1/15/28 | &nbsp;&nbsp; 19949 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Clean Harbors, Inc., 144a, 5.750%, 10/15/33 | &nbsp;&nbsp; 19494 |
| &nbsp;&nbsp; 43000 | &nbsp;&nbsp;Clearwater Paper Corp., 144a, 4.750%, 8/15/28 | &nbsp;&nbsp; 40205 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., 144a, 6.750%, 4/15/32 | &nbsp;&nbsp; 10283 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.625%, 12/15/30 | &nbsp;&nbsp; 26058 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.750%, 7/15/31<sup>†</sup> | &nbsp;&nbsp; 8431 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 5.500%, 5/1/28 | &nbsp;&nbsp; 11013 |
| &nbsp;&nbsp; 6000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.000%, 6/15/32 | &nbsp;&nbsp; 6308 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.875%, 12/1/30 | &nbsp;&nbsp; 5318 |
| &nbsp;&nbsp; 61000 | &nbsp;&nbsp;Imola Merger Corp., 144a, 4.750%, 5/15/29 | &nbsp;&nbsp; 60208 |
| &nbsp;&nbsp; 865000 | &nbsp;&nbsp;John Deere Capital Corp., MTN, 5.100%, 4/11/34 | &nbsp;&nbsp; 895990 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 43064 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Mauser Packaging Solutions Holding Co., 144a, 7.875%, 4/15/30 | &nbsp;&nbsp; 41874 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;Moog, Inc., 144a, 4.250%, 12/15/27 | &nbsp;&nbsp; 41598 |
| &nbsp;&nbsp; 692000 | &nbsp;&nbsp;Norfolk Southern Corp., 4.837%, 10/1/41 | &nbsp;&nbsp; 654045 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 37769 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.375%, 6/1/32<sup>†</sup> | &nbsp;&nbsp; 19283 |
| &nbsp;&nbsp; 580000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27 | &nbsp;&nbsp; 586657 |
| &nbsp;&nbsp; 44000 | &nbsp;&nbsp;Roller Bearing Co. of America, Inc., 144a, 4.375%, 10/15/29 | &nbsp;&nbsp; 43301 |
| &nbsp;&nbsp; 698000 | &nbsp;&nbsp;RTX Corp., 6.400%, 3/15/54 | &nbsp;&nbsp; 770337 |
| &nbsp;&nbsp; 33000 | &nbsp;&nbsp;Sensata Technologies, Inc., 144a, 3.750%, 2/15/31 | &nbsp;&nbsp; 30970 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 4.0% (Continued)** |  |
| $26000 | &nbsp;&nbsp;Smyrna Ready Mix Concrete LLC, 144a, 8.875%, 11/15/31 | $27810 |
| &nbsp;&nbsp; 18000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.250%, 8/1/33 | &nbsp;&nbsp; 18388 |
| &nbsp;&nbsp; 8000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.500%, 8/15/32 | &nbsp;&nbsp; 8236 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;Standard Industries, Inc., 144a, 3.375%, 1/15/31<sup>†</sup> | &nbsp;&nbsp; 19254 |
| &nbsp;&nbsp; 63000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | &nbsp;&nbsp; 63100 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 29632 |
| &nbsp;&nbsp; 12000 | &nbsp;&nbsp;Terex Corp., 144a, 5.000%, 5/15/29 | &nbsp;&nbsp; 11959 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;Terex Corp., 144a, 6.250%, 10/15/32 | &nbsp;&nbsp; 41038 |
| &nbsp;&nbsp; 1949000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 5.848%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 1756371 |
| &nbsp;&nbsp; 1198000 | &nbsp;&nbsp;Timken Co. (The), 4.500%, 12/15/28 | &nbsp;&nbsp; 1207594 |
| &nbsp;&nbsp; 5000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.250%, 1/31/34 | &nbsp;&nbsp; 5188 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.375%, 3/1/29 | &nbsp;&nbsp; 26813 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.625%, 3/1/32 | &nbsp;&nbsp; 40579 |
| &nbsp;&nbsp; 972000 | &nbsp;&nbsp;United Parcel Service, Inc., 5.950%, 5/14/55 | &nbsp;&nbsp; 1007729 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/29 | &nbsp;&nbsp; 15490 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 9397 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.625%, 3/15/32 | &nbsp;&nbsp; 15663 |
| &nbsp;&nbsp; 216000 | &nbsp;&nbsp;WestRock MWV LLC, 8.200%, 1/15/30 | &nbsp;&nbsp; 245990 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;XPO, Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 57832 |
|  |  | &nbsp;&nbsp; 10877046 |
|  | &nbsp;&nbsp;**Communication Services — 3.4%** |  |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;AMC Networks, Inc., 144a, 10.250%, 1/15/29 | &nbsp;&nbsp; 35657 |
| &nbsp;&nbsp; 1135000 | &nbsp;&nbsp;AT&T, Inc., 3.800%, 12/1/57 | &nbsp;&nbsp; 783759 |
| &nbsp;&nbsp; 536000 | &nbsp;&nbsp;AT&T, Inc., 4.500%, 5/15/35 | &nbsp;&nbsp; 515826 |
| &nbsp;&nbsp; 14000 | &nbsp;&nbsp;Block Communications, Inc., 144a, 4.875%, 3/1/28 | &nbsp;&nbsp; 13079 |
| &nbsp;&nbsp; 88000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 80881 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 5/1/32 | &nbsp;&nbsp; 19746 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 6.375%, 9/1/29 | &nbsp;&nbsp; 21289 |
| &nbsp;&nbsp; 45000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 7.375%, 3/1/31 | &nbsp;&nbsp; 45922 |
| &nbsp;&nbsp; 113000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.750%, 3/1/30<sup>†</sup> | &nbsp;&nbsp; 107927 |
| &nbsp;&nbsp; 23000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 1/15/34 | &nbsp;&nbsp; 19556 |
| &nbsp;&nbsp; 602000 | &nbsp;&nbsp;Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | &nbsp;&nbsp; 567100 |
| &nbsp;&nbsp; 673000 | &nbsp;&nbsp;Comcast Corp., 4.000%, 3/1/48 | &nbsp;&nbsp; 507866 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;Directv Financing LLC, 144a, 8.875%, 2/1/30 | &nbsp;&nbsp; 29390 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 50081 |
| &nbsp;&nbsp; 58000 | &nbsp;&nbsp;GCI LLC, 144a, 4.750%, 10/15/28 | &nbsp;&nbsp; 56552 |
| &nbsp;&nbsp; 35000 | &nbsp;&nbsp;Gen Digital, Inc., 144a, 6.750%, 9/30/27 | &nbsp;&nbsp; 35520 |
| &nbsp;&nbsp; 24392 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 6.875%, 6/30/33 | &nbsp;&nbsp; 24951 |
| &nbsp;&nbsp; 33232 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 7.000%, 3/31/34 | &nbsp;&nbsp; 34248 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Match Group Holdings II LLC, 144a, 4.625%, 6/1/28 | &nbsp;&nbsp; 14867 |
| &nbsp;&nbsp; 1130000 | &nbsp;&nbsp;Meta Platforms, Inc., 4.875%, 11/15/35 | &nbsp;&nbsp; 1130385 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;Midcontinent Communications, 144a, 8.000%, 8/15/32 | &nbsp;&nbsp; 30721 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 5.625%, 7/15/27 | &nbsp;&nbsp; 41110 |
| &nbsp;&nbsp; 1148000 | &nbsp;&nbsp;Rogers Communications, Inc. (Canada), 5.300%, 2/15/34 | &nbsp;&nbsp; 1158948 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Sinclair Television Group, Inc., 144a, 8.125%, 2/15/33 | &nbsp;&nbsp; 9400 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 4.000%, 7/15/28 | &nbsp;&nbsp; 24441 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 9753 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;TEGNA, Inc., 4.625%, 3/15/28 | &nbsp;&nbsp; 18807 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Communication Services — 3.4% (Continued)** |  |
| $991000 | &nbsp;&nbsp;T-Mobile USA, Inc., 3.875%, 4/15/30 | $975565 |
| &nbsp;&nbsp; 472000 | &nbsp;&nbsp;T-Mobile USA, Inc., 5.750%, 1/15/54 | &nbsp;&nbsp; 464877 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.000%, 8/15/28 | &nbsp;&nbsp; 20713 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.500%, 7/31/31 | &nbsp;&nbsp; 48044 |
| &nbsp;&nbsp; 932000 | &nbsp;&nbsp;Verizon Communications, Inc., 2.987%, 10/30/56 | &nbsp;&nbsp; 557126 |
| &nbsp;&nbsp; 550000 | &nbsp;&nbsp;Verizon Communications, Inc., 5.875%, 11/30/55 | &nbsp;&nbsp; 544977 |
| &nbsp;&nbsp; 38000 | &nbsp;&nbsp;Versant Media Group, Inc., 144a, 7.250%, 1/30/31<sup>†</sup> | &nbsp;&nbsp; 39204 |
| &nbsp;&nbsp; 1404000 | &nbsp;&nbsp;Videotron Ltd. (Canada), 144a, 3.625%, 6/15/29 | &nbsp;&nbsp; 1366303 |
| &nbsp;&nbsp; 62000 | &nbsp;&nbsp;Ziff Davis, Inc., 144a, 4.625%, 10/15/30 | &nbsp;&nbsp; 58885 |
|  |  | &nbsp;&nbsp; 9463476 |
|  | &nbsp;&nbsp;**Utilities — 2.8%** |  |
| &nbsp;&nbsp; 68000 | &nbsp;&nbsp;Algonquin Power & Utilities Corp. (Canada), 4.750%, 1/18/82 | &nbsp;&nbsp; 67059 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Alpha Generation LLC, 144a, 6.250%, 1/15/34 | &nbsp;&nbsp; 24212 |
| &nbsp;&nbsp; 40000 | &nbsp;&nbsp;AltaGas Ltd. (Canada), 144a, 7.200%, 10/15/54<sup>†</sup> | &nbsp;&nbsp; 41466 |
| &nbsp;&nbsp; 522000 | &nbsp;&nbsp;Calpine Corp., 144a, 5.000%, 2/1/31 | &nbsp;&nbsp; 530186 |
| &nbsp;&nbsp; 1513000 | &nbsp;&nbsp;CMS Energy Corp., 4.750%, 6/1/50 | &nbsp;&nbsp; 1488375 |
| &nbsp;&nbsp; 1120000 | &nbsp;&nbsp;Duke Energy Progress LLC, 4.150%, 12/1/44 | &nbsp;&nbsp; 935744 |
| &nbsp;&nbsp; 614000 | &nbsp;&nbsp;Edison International, 4.125%, 3/15/28 | &nbsp;&nbsp; 606974 |
| &nbsp;&nbsp; 84000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | &nbsp;&nbsp; 87648 |
| &nbsp;&nbsp; 448000 | &nbsp;&nbsp;Electricite de France SA (France), 144a, 4.875%, 9/21/38 | &nbsp;&nbsp; 418923 |
| &nbsp;&nbsp; 566000 | &nbsp;&nbsp;Georgia Power Co., 5.950%, 2/1/39 | &nbsp;&nbsp; 601802 |
| &nbsp;&nbsp; 30000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.250%, 4/20/46 | &nbsp;&nbsp; 29958 |
| &nbsp;&nbsp; 37000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 5.990%, 10/1/66<sup>(A)</sup> | &nbsp;&nbsp; 32370 |
| &nbsp;&nbsp; 959000 | &nbsp;&nbsp;Ohio Power Co., Ser R, 2.900%, 10/1/51 | &nbsp;&nbsp; 593043 |
| &nbsp;&nbsp; 1118000 | &nbsp;&nbsp;Oncor Electric Delivery Co. LLC, 144a, 5.800%, 4/1/55 | &nbsp;&nbsp; 1128819 |
| &nbsp;&nbsp; 42000 | &nbsp;&nbsp;PacifiCorp, 7.375%, 9/15/55 | &nbsp;&nbsp; 42806 |
| &nbsp;&nbsp; 738000 | &nbsp;&nbsp;PacifiCorp., 5.750%, 4/1/37 | &nbsp;&nbsp; 749338 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;PPL Capital Funding, Inc., Ser A, (TSFR3M + 2.927%), 6.612%, 3/30/67<sup>(A)</sup> | &nbsp;&nbsp; 40068 |
| &nbsp;&nbsp; 69000 | &nbsp;&nbsp;Sempra, 4.125%, 4/1/52 | &nbsp;&nbsp; 67585 |
| &nbsp;&nbsp; 78000 | &nbsp;&nbsp;South Jersey Industries, Inc., 5.020%, 4/15/31<sup>†</sup> | &nbsp;&nbsp; 67637 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Talen Energy Supply LLC, 144a, 6.250%, 2/1/34 | &nbsp;&nbsp; 15315 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Talen Energy Supply LLC, 144a, 6.500%, 2/1/36 | &nbsp;&nbsp; 15511 |
|  |  | &nbsp;&nbsp; 7584839 |
|  | &nbsp;&nbsp;**Health Care — 2.7%** |  |
| &nbsp;&nbsp; 692000 | &nbsp;&nbsp;AbbVie, Inc., 4.450%, 5/14/46 | &nbsp;&nbsp; 603040 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 5.000%, 4/15/29 | &nbsp;&nbsp; 15410 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 5.500%, 7/1/28 | &nbsp;&nbsp; 19878 |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Acadia Healthcare Co., Inc., 144a, 7.375%, 3/15/33 | &nbsp;&nbsp; 26260 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 4.625%, 8/1/29 | &nbsp;&nbsp; 19389 |
| &nbsp;&nbsp; 19000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 5.125%, 3/1/30 | &nbsp;&nbsp; 18533 |
| &nbsp;&nbsp; 777000 | &nbsp;&nbsp;Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49 | &nbsp;&nbsp; 594867 |
| &nbsp;&nbsp; 29000 | &nbsp;&nbsp;Avantor Funding, Inc., 144a, 3.875%, 11/1/29 | &nbsp;&nbsp; 27736 |
| &nbsp;&nbsp; 654000 | &nbsp;&nbsp;Becton Dickinson & Co., 4.685%, 12/15/44 | &nbsp;&nbsp; 580877 |
| &nbsp;&nbsp; 723000 | &nbsp;&nbsp;CommonSpirit Health, 4.187%, 10/1/49 | &nbsp;&nbsp; 569202 |
| &nbsp;&nbsp; 661000 | &nbsp;&nbsp;CVS Health Corp., 5.125%, 7/20/45 | &nbsp;&nbsp; 598537 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.750%, 7/15/33 | &nbsp;&nbsp; 16590 |
| &nbsp;&nbsp; 21000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.875%, 9/1/32 | &nbsp;&nbsp; 21858 |
| &nbsp;&nbsp; 884000 | &nbsp;&nbsp;DH Europe Finance II Sarl, 3.250%, 11/15/39 | &nbsp;&nbsp; 726142 |
| &nbsp;&nbsp; 795000 | &nbsp;&nbsp;Elevance Health, Inc., 4.750%, 2/15/33 | &nbsp;&nbsp; 798567 |
| &nbsp;&nbsp; 47000 | &nbsp;&nbsp;Global Medical Response, Inc., 144a, 7.375%, 10/1/32 | &nbsp;&nbsp; 48851 |
| &nbsp;&nbsp; 1026000 | &nbsp;&nbsp;HCA, Inc., 5.500%, 3/1/32 | &nbsp;&nbsp; 1070745 |
| &nbsp;&nbsp; 24000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 3.875%, 5/15/32 | &nbsp;&nbsp; 21803 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 4.375%, 6/15/28 | &nbsp;&nbsp; 15735 |
| &nbsp;&nbsp; 11000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 6.250%, 1/15/33 | &nbsp;&nbsp; 11214 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 6.500%, 2/15/31<sup>†</sup> | &nbsp;&nbsp; 15405 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 2.7% (Continued)** |  |
| $24000 | &nbsp;&nbsp;National Mentor Holdings, Inc., 144a, 10.500%, 12/15/30 | $24127 |
| &nbsp;&nbsp; 22000 | &nbsp;&nbsp;Option Care Health, Inc., 144a, 4.375%, 10/31/29 | &nbsp;&nbsp; 21495 |
| &nbsp;&nbsp; 58000 | &nbsp;&nbsp;Pediatrix Medical Group, Inc., 144a, 5.375%, 2/15/30 | &nbsp;&nbsp; 57841 |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Tenet Healthcare Corp., 6.125%, 10/1/28 | &nbsp;&nbsp; 91411 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Tenet Healthcare Corp., 144a, 6.000%, 11/15/33 | &nbsp;&nbsp; 31917 |
| &nbsp;&nbsp; 708000 | &nbsp;&nbsp;Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | &nbsp;&nbsp; 714428 |
| &nbsp;&nbsp; 911000 | &nbsp;&nbsp;UnitedHealth Group, Inc., 3.500%, 8/15/39 | &nbsp;&nbsp; 760688 |
|  |  | &nbsp;&nbsp; 7522546 |
|  | &nbsp;&nbsp;**Information Technology — 2.6%** |  |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;Amentum Holdings, Inc., 144a, 7.250%, 8/1/32 | &nbsp;&nbsp; 9486 |
| &nbsp;&nbsp; 34000 | &nbsp;&nbsp;Amkor Technology, Inc., 144a, 5.875%, 10/1/33 | &nbsp;&nbsp; 34701 |
| &nbsp;&nbsp; 1203000 | &nbsp;&nbsp;Apple, Inc., 4.650%, 2/23/46 | &nbsp;&nbsp; 1108112 |
| &nbsp;&nbsp; 1265000 | &nbsp;&nbsp;Broadcom, Inc., 3.419%, 4/15/33 | &nbsp;&nbsp; 1173962 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;CACI International, Inc., 144a, 6.375%, 6/15/33 | &nbsp;&nbsp; 10347 |
| &nbsp;&nbsp; 57000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 6.500%, 3/31/29 | &nbsp;&nbsp; 57746 |
| &nbsp;&nbsp; 55000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 8.250%, 6/30/32 | &nbsp;&nbsp; 57477 |
| &nbsp;&nbsp; 60000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.500%, 10/15/28 | &nbsp;&nbsp; 60234 |
| &nbsp;&nbsp; 658000 | &nbsp;&nbsp;Dell International LLC / EMC Corp., 4.850%, 2/1/35 | &nbsp;&nbsp; 650711 |
| &nbsp;&nbsp; 1098000 | &nbsp;&nbsp;Marvell Technology, Inc., 2.950%, 4/15/31 | &nbsp;&nbsp; 1018062 |
| &nbsp;&nbsp; 566000 | &nbsp;&nbsp;Micron Technology, Inc., 2.703%, 4/15/32 | &nbsp;&nbsp; 508376 |
| &nbsp;&nbsp; 1482000 | &nbsp;&nbsp;Microsoft Corp., 2.525%, 6/1/50 | &nbsp;&nbsp; 909575 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 12/1/29 | &nbsp;&nbsp; 26572 |
| &nbsp;&nbsp; 28000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 2/15/28 | &nbsp;&nbsp; 27477 |
| &nbsp;&nbsp; 658000 | &nbsp;&nbsp;Oracle Corp., 5.950%, 9/26/55 | &nbsp;&nbsp; 585463 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;Science Applications International Corp., 144a, 5.875%, 11/1/33 | &nbsp;&nbsp; 46632 |
| &nbsp;&nbsp; 10000 | &nbsp;&nbsp;Seagate Data Storage Technology Pte Ltd., 144a, 5.750%, 12/1/34<sup>†</sup> | &nbsp;&nbsp; 10246 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;SS&C Technologies, Inc., 144a, 5.500%, 9/30/27 | &nbsp;&nbsp; 20017 |
| &nbsp;&nbsp; 764000 | &nbsp;&nbsp;Texas Instruments, Inc., 5.100%, 5/23/35 | &nbsp;&nbsp; 787485 |
|  |  | &nbsp;&nbsp; 7102681 |
|  | &nbsp;&nbsp;**Real Estate — 1.5%** |  |
| &nbsp;&nbsp; 876000 | &nbsp;&nbsp;American Tower Corp. REIT, 5.900%, 11/15/33 | &nbsp;&nbsp; 937228 |
| &nbsp;&nbsp; 837000 | &nbsp;&nbsp;Crown Castle, Inc. REIT, 4.800%, 9/1/28 | &nbsp;&nbsp; 849444 |
| &nbsp;&nbsp; 1017000 | &nbsp;&nbsp;Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | &nbsp;&nbsp; 990303 |
| &nbsp;&nbsp; 25000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 4.500%, 2/15/31 | &nbsp;&nbsp; 23837 |
| &nbsp;&nbsp; 31000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 4.875%, 5/15/29 | &nbsp;&nbsp; 30271 |
| &nbsp;&nbsp; 16000 | &nbsp;&nbsp;Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer REIT, 144a, 7.000%, 2/1/30<sup>†</sup> | &nbsp;&nbsp; 16423 |
| &nbsp;&nbsp; 49000 | &nbsp;&nbsp;RLJ Lodging Trust LP REIT, 144a, 3.750%, 7/1/26 | &nbsp;&nbsp; 48734 |
| &nbsp;&nbsp; 514000 | &nbsp;&nbsp;Store Capital LLC REIT, 2.700%, 12/1/31 | &nbsp;&nbsp; 454486 |
| &nbsp;&nbsp; 635000 | &nbsp;&nbsp;Store Capital LLC REIT, 4.625%, 3/15/29 | &nbsp;&nbsp; 632917 |
| &nbsp;&nbsp; 9000 | &nbsp;&nbsp;XHR LP REIT, 144a, 4.875%, 6/1/29 | &nbsp;&nbsp; 8873 |
| &nbsp;&nbsp; 20000 | &nbsp;&nbsp;XHR LP REIT, 144a, 6.625%, 5/15/30 | &nbsp;&nbsp; 20673 |
|  |  | &nbsp;&nbsp; 4013189 |
|  | &nbsp;&nbsp;**Materials — 0.6%** |  |
| &nbsp;&nbsp; 26000 | &nbsp;&nbsp;Celanese US Holdings LLC, 6.879%, 7/15/32 | &nbsp;&nbsp; 27111 |
| &nbsp;&nbsp; 39000 | &nbsp;&nbsp;Celanese US Holdings LLC, 7.200%, 11/15/33 | &nbsp;&nbsp; 41240 |
| &nbsp;&nbsp; 36000 | &nbsp;&nbsp;Kaiser Aluminum Corp., 144a, 5.875%, 3/1/34 | &nbsp;&nbsp; 36106 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Magnera Corp., 144a, 4.750%, 11/15/29<sup>†</sup> | &nbsp;&nbsp; 24955 |
| &nbsp;&nbsp; 41000 | &nbsp;&nbsp;Magnera Corp., 144a, 7.250%, 11/15/31 | &nbsp;&nbsp; 40248 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Navoiyuran State Enterprise (Uzbekistan), 144a, 6.700%, 7/2/30 | &nbsp;&nbsp; 201612 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 42.1% (Continued)** |  |
|  | &nbsp;&nbsp;**Materials — 0.6% (Continued)** |  |
| $31000 | &nbsp;&nbsp;NOVA Chemicals Corp. (Canada), 144a, 8.500%, 11/15/28 | $32411 |
| &nbsp;&nbsp; 524000 | &nbsp;&nbsp;Rio Tinto Finance USA PLC (Australia), 5.250%, 3/14/35 | &nbsp;&nbsp; 540929 |
| &nbsp;&nbsp; 683000 | &nbsp;&nbsp;Sherwin-Williams Co. (The), 4.500%, 6/1/47 | &nbsp;&nbsp; 584422 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;WE Soda Investments Holding PLC (Turkey), 144a, 9.500%, 10/6/28 | &nbsp;&nbsp; 201761 |
|  |  | &nbsp;&nbsp; 1730795 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $115589876 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 22.5%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 22.5%** |
| &nbsp;&nbsp; 7530000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.625%, 11/15/45 | &nbsp;&nbsp; 7385283 |
| &nbsp;&nbsp; 215000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 2/15/45 | &nbsp;&nbsp; 214689 |
| &nbsp;&nbsp; 3825000 | &nbsp;&nbsp;U.S. Treasury Bond, 4.750%, 8/15/55 | &nbsp;&nbsp; 3777188 |
| &nbsp;&nbsp;10509596 | &nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes, 2.375%, 2/15/55 | &nbsp;&nbsp; 9992610 |
| &nbsp;&nbsp; 8480000 | &nbsp;&nbsp;U.S. Treasury Note, 3.750%, 4/15/28 | &nbsp;&nbsp; 8525712 |
| &nbsp;&nbsp;16175000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 5/31/30 | &nbsp;&nbsp; 16394247 |
| &nbsp;&nbsp; 7907000 | &nbsp;&nbsp;U.S. Treasury Note, 4.000%, 11/15/35 | &nbsp;&nbsp; 7810633 |
| &nbsp;&nbsp; 7610000 | &nbsp;&nbsp;U.S. Treasury Note, 4.250%, 8/15/35 | &nbsp;&nbsp; 7681344 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp; $61781706 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 9.2%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 9.2%** |
| &nbsp;&nbsp; 725 | &nbsp;&nbsp;Adjustable Rate Mortgage Trust, Ser 2004-4, Class 3A1, 4.581%, 3/25/35<sup>(A)(C)</sup> | &nbsp;&nbsp; 714 |
| &nbsp;&nbsp; 808713 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.629%, 10/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 778354 |
| &nbsp;&nbsp; 1260331 | &nbsp;&nbsp;Agate Bay Mortgage Trust, Ser 2015-7, Class B2, 144a, 3.629%, 10/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 1210757 |
| &nbsp;&nbsp; 607747 | &nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2024-1, Class A1, 144a, 5.210%, 8/25/68<sup>(A)(C)</sup> | &nbsp;&nbsp; 608666 |
| &nbsp;&nbsp; 694942 | &nbsp;&nbsp;AOMT, Ser 2024-6, Class A1, 144a, 4.650%, 11/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 692899 |
| &nbsp;&nbsp; 778220 | &nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM8, Class A1A, 144a, 4.300%, 8/1/53<sup>(A)(C)</sup> | &nbsp;&nbsp; 769850 |
| &nbsp;&nbsp; 1158678 | &nbsp;&nbsp;CIM Trust, Ser 2021-J2, Class A19, 144a, 2.500%, 4/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 960797 |
| &nbsp;&nbsp; 212948 | &nbsp;&nbsp;CSMC Trust, Ser 2013-7, Class B3, 144a, 3.552%, 8/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 208164 |
| &nbsp;&nbsp; 257825 | &nbsp;&nbsp;CSMC Trust, Ser 2014-OAK1, Class B4, 144a, 3.596%, 11/25/44<sup>(A)(C)</sup> | &nbsp;&nbsp; 251277 |
| &nbsp;&nbsp; 566536 | &nbsp;&nbsp;CSMC Trust, Ser 2015-1, Class B3, 144a, 3.878%, 1/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 550801 |
| &nbsp;&nbsp; 641473 | &nbsp;&nbsp;CSMC Trust, Ser 2015-2, Class B4, 144a, 3.868%, 2/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 614673 |
| &nbsp;&nbsp; 512547 | &nbsp;&nbsp;CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.766%, 12/25/44<sup>(A)(C)</sup> | &nbsp;&nbsp; 498270 |
| &nbsp;&nbsp; 685074 | &nbsp;&nbsp;CSMC Trust, Ser 2018-J1, Class B2, 144a, 3.576%, 2/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 635191 |
| &nbsp;&nbsp; 802038 | &nbsp;&nbsp;Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 785473 |
| &nbsp;&nbsp; 1000926 | &nbsp;&nbsp;EverBank Mortgage Loan Trust, Ser 2018-1, Class B2, 144a, 3.561%, 2/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 924975 |
| &nbsp;&nbsp; 916599 | &nbsp;&nbsp;EverBank Mortgage Loan Trust, Ser 2018-1, Class B3, 144a, 3.561%, 2/25/48<sup>(A)(C)</sup> | &nbsp;&nbsp; 846286 |
| &nbsp;&nbsp; 15601 | &nbsp;&nbsp;Galton Funding Mortgage Trust, Ser 2019-1, Class A22, 144a, 4.000%, 2/25/59<sup>(A)(C)</sup> | &nbsp;&nbsp; 14854 |
| &nbsp;&nbsp; 901809 | &nbsp;&nbsp;GCAT Trust, Ser 2022-NQM2, Class A1, 144a, 4.210%, 2/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 898861 |
| &nbsp;&nbsp; 237176 | &nbsp;&nbsp;GS Mortgage-Backed Securities Corp. Trust, Ser 2020-PJ3, Class A14, 144a, 3.000%, 10/25/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 207842 |
| &nbsp;&nbsp; 603977 | &nbsp;&nbsp;GS Mortgage-Backed Securities Trust, Ser 2022-PJ1, Class A8, 144a, 2.500%, 5/28/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 540170 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 9.2%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 9.2%<br> (Continued)** |
| $9127 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2005-A1, Class 2A1, 5.964%, 2/25/35<sup>(A)(C)</sup> | $8938 |
| &nbsp;&nbsp; 12768 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2006-A4, Class 2A2, 5.688%, 6/25/36<sup>(A)(C)</sup> | &nbsp;&nbsp; 8582 |
| &nbsp;&nbsp; 355064 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2015-IVR2, Class B3, 144a, 5.473%, 1/25/45<sup>(A)(C)</sup> | &nbsp;&nbsp; 356226 |
| &nbsp;&nbsp; 1287333 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.447%, 1/25/47<sup>(A)(C)</sup> | &nbsp;&nbsp; 1179259 |
| &nbsp;&nbsp; 791620 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2018-8, Class B3, 144a, 4.042%, 1/25/49<sup>(A)(C)</sup> | &nbsp;&nbsp; 733950 |
| &nbsp;&nbsp; 142860 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-INV1, Class A15, 144a, 4.000%, 9/25/49<sup>(A)(C)</sup> | &nbsp;&nbsp; 135089 |
| &nbsp;&nbsp; 1028787 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2021-11, Class A3, 144a, 2.500%, 1/25/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 863055 |
| &nbsp;&nbsp; 13702 | &nbsp;&nbsp;MASTR Alternative Loan Trust, Ser 2004-7, Class 10A1, 6.000%, 6/25/34 | &nbsp;&nbsp; 13742 |
| &nbsp;&nbsp; 1195530 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2021-MTG3, Class A9, 144a, 2.500%, 7/1/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 1087397 |
| &nbsp;&nbsp; 677638 | &nbsp;&nbsp;Mello Mortgage Capital Acceptance, Ser 2022-INV2, Class A15, 144a, 3.000%, 4/25/52<sup>(A)(C)</sup> | &nbsp;&nbsp; 588804 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2016-1, Class B2, 144a, 3.946%, 4/25/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 1051241 |
| &nbsp;&nbsp; 947979 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 860737 |
| &nbsp;&nbsp; 135152 | &nbsp;&nbsp;Residential Asset Securitization Trust, Ser 2006-A1, Class 1A3, 6.000%, 4/25/36 | &nbsp;&nbsp; 57243 |
| &nbsp;&nbsp; 63029 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-10, Class B2, 144a, 3.536%, 8/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 61756 |
| &nbsp;&nbsp; 59820 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-5, Class B1, 144a, 3.490%, 5/25/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 58808 |
| &nbsp;&nbsp; 457518 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2017-2, Class A1, 144a, 3.500%, 2/25/47<sup>(A)(C)</sup> | &nbsp;&nbsp; 419375 |
| &nbsp;&nbsp; 1398825 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2025-S1, Class A4, 144a, 2.500%, 9/25/54<sup>(A)(C)</sup> | &nbsp;&nbsp; 1246957 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-1, Class B1, 144a, 3.782%, 10/25/56<sup>(A)(C)</sup> | &nbsp;&nbsp; 941197 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-4, Class B1, 144a, 3.645%, 6/25/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 704011 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2019-4, Class A2, 144a, 3.250%, 10/25/59<sup>(A)(C)</sup> | &nbsp;&nbsp; 733449 |
| &nbsp;&nbsp; 730295 | &nbsp;&nbsp;Verus Securitization Trust, Ser 2022-3, Class A1, 144a, 4.130%, 2/25/67<sup>(A)(C)</sup> | &nbsp;&nbsp; 703796 |
| &nbsp;&nbsp; 37843 | &nbsp;&nbsp;Washington Mutual Mortgage Pass-Through Certificates, Ser 2005-9, Class 2A4, 5.500%, 11/25/35 | &nbsp;&nbsp; 35383 |
| &nbsp;&nbsp; 793451 | &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2021-RR1, Class A3, 144a, 2.500%, 12/25/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 721849 |
| &nbsp;&nbsp; 927371 | &nbsp;&nbsp;Wells Fargo Mortgage Backed Securities Trust, Ser 2022-1, Class A17, 144a, 2.500%, 8/25/51<sup>(A)(C)</sup> | &nbsp;&nbsp; 768993 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $25338711 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 6.8%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 6.8%** |
| &nbsp;&nbsp; 853364 | &nbsp;&nbsp;FHLMC REMIC, Ser 4422, Class LZ, 4.000%, 12/15/44 | &nbsp;&nbsp; 819385 |
| &nbsp;&nbsp; 2085000 | &nbsp;&nbsp;FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50 | &nbsp;&nbsp; 1536169 |
| &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40 | &nbsp;&nbsp; 2151693 |
| &nbsp;&nbsp; 48973 | &nbsp;&nbsp;FNMA REMIC, Ser 2003-32, Class BZ, 6.000%, 11/25/32 | &nbsp;&nbsp; 50502 |
| &nbsp;&nbsp; 5246 | &nbsp;&nbsp;FNMA REMIC, Ser 2015-51, Class KC, 3.000%, 6/25/45 | &nbsp;&nbsp; 5084 |
| &nbsp;&nbsp; 1420000 | &nbsp;&nbsp;FNMA REMIC, Ser 2017-37, Class AY, 3.000%, 5/25/47 | &nbsp;&nbsp; 1120269 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 6.8%<br> (Continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 6.8%<br> (Continued)** |
| $240796 | &nbsp;&nbsp;FNMA REMIC, Ser 2017-90, Class KA, 3.000%, 11/25/47 | $228359 |
| &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49 | &nbsp;&nbsp; 1503538 |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49 | &nbsp;&nbsp; 1956660 |
| &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;FNMA REMIC, Ser 2022-17, Class UV, 3.000%, 7/25/42 | &nbsp;&nbsp; 2195976 |
| &nbsp;&nbsp; 539464 | &nbsp;&nbsp;FNMA REMIC, Ser 2023-9, Class BZ, 4.500%, 3/25/53 | &nbsp;&nbsp; 494636 |
| &nbsp;&nbsp; 22382 | &nbsp;&nbsp;FNMA Trust, Ser 2004-W15, Class 2AF, (SOFR30A + 0.364%), 4.239%, 8/25/44<sup>(A)</sup> | &nbsp;&nbsp; 22171 |
| &nbsp;&nbsp; 322731 | &nbsp;&nbsp;GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40 | &nbsp;&nbsp; 325192 |
| &nbsp;&nbsp; 2628025 | &nbsp;&nbsp;GNMA, Ser 2012-147, Class IO, 0.512%, 4/16/54<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 21202 |
| &nbsp;&nbsp; 975234 | &nbsp;&nbsp;GNMA, Ser 2014-44, Class LZ, 4.000%, 3/16/44 | &nbsp;&nbsp; 930180 |
| &nbsp;&nbsp; 1111119 | &nbsp;&nbsp;GNMA, Ser 2016-113, Class IO, 1.138%, 2/16/58<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 67103 |
| &nbsp;&nbsp; 6968023 | &nbsp;&nbsp;GNMA, Ser 2016-140, Class IO, 0.731%, 5/16/58<sup>(A)(C)(D)</sup> | &nbsp;&nbsp; 243315 |
| &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;GNMA, Ser 2016-83, Class PB, 3.000%, 6/20/46 | &nbsp;&nbsp; 1326959 |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;GNMA, Ser 2018-112, Class YC, 3.500%, 8/20/48 | &nbsp;&nbsp; 2045094 |
| &nbsp;&nbsp; 350000 | &nbsp;&nbsp;GNMA, Ser 2022-200, Class PL, 5.500%, 9/20/52 | &nbsp;&nbsp; 360282 |
| &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;GNMA, Ser 2022-50, Class KV, 3.000%, 6/20/42 | &nbsp;&nbsp; 1417496 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $18821265 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 5.9%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 5.9%** |
| &nbsp;&nbsp; 970000 | &nbsp;&nbsp;BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63 | &nbsp;&nbsp; 890658 |
| &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55<sup>(A)(C)</sup> | &nbsp;&nbsp; 1122526 |
| &nbsp;&nbsp; 525000 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57<sup>(A)(C)</sup> | &nbsp;&nbsp; 552662 |
| &nbsp;&nbsp; 875000 | &nbsp;&nbsp;BMO Mortgage Trust, Ser 2025-5C10, Class B, 6.445%, 5/15/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 913007 |
| &nbsp;&nbsp; 950000 | &nbsp;&nbsp;BX Trust, Ser 2025-ARIA, Class C, 144a, 5.517%, 12/13/42<sup>(A)(C)</sup> | &nbsp;&nbsp; 957357 |
| &nbsp;&nbsp; 305000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50<sup>(A)(C)</sup> | &nbsp;&nbsp; 287574 |
| &nbsp;&nbsp; 830000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53 | &nbsp;&nbsp; 772565 |
| &nbsp;&nbsp; 1361523 | &nbsp;&nbsp;CSMC, Ser 2021-B33, Class A1, 144a, 3.053%, 10/10/43 | &nbsp;&nbsp; 1303038 |
| &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.541%, 1/10/43<sup>(A)(C)</sup> | &nbsp;&nbsp; 1559005 |
| &nbsp;&nbsp; 765000 | &nbsp;&nbsp;HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (TSFR1M + 1.564%), 5.315%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 753601 |
| &nbsp;&nbsp; 528000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2016-NINE, Class B, 144a, 2.854%, 9/6/38<sup>(A)(C)</sup> | &nbsp;&nbsp; 520750 |
| &nbsp;&nbsp; 755000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50 | &nbsp;&nbsp; 745411 |
| &nbsp;&nbsp; 515000 | &nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | &nbsp;&nbsp; 499586 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (TSFR1M + 1.317%), 5.067%, 11/15/35<sup>(A)</sup> | &nbsp;&nbsp; 1155303 |
| &nbsp;&nbsp; 1210000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51 | &nbsp;&nbsp; 1208416 |
| &nbsp;&nbsp; 340000 | &nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | &nbsp;&nbsp; 333609 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 5.9% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 5.9% (Continued)** |
| $1400000 | &nbsp;&nbsp;VEGAS Trust, Ser 2024-TI, Class A, 144a, 5.518%, 11/10/39 | $1419121 |
| &nbsp;&nbsp; 1045000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2025-5C4, Class B, 6.394%, 5/15/58<sup>(A)(C)</sup> | &nbsp;&nbsp; 1097731 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp; $16091920 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.8%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.8%** |
| &nbsp;&nbsp; 27129 | &nbsp;&nbsp;FHLMC, Pool #1Q0339, (RFUCCT1Y + 1.901%), 6.722%, 4/1/37<sup>(A)</sup> | &nbsp;&nbsp; 27982 |
| &nbsp;&nbsp; 4065 | &nbsp;&nbsp;FHLMC, Pool #A12886, 5.000%, 8/1/33 | &nbsp;&nbsp; 4133 |
| &nbsp;&nbsp; 31136 | &nbsp;&nbsp;FHLMC, Pool #A13842, 6.000%, 9/1/33 | &nbsp;&nbsp; 31984 |
| &nbsp;&nbsp; 2510 | &nbsp;&nbsp;FHLMC, Pool #A21415, 5.000%, 5/1/34 | &nbsp;&nbsp; 2534 |
| &nbsp;&nbsp; 6859 | &nbsp;&nbsp;FHLMC, Pool #A35682, 5.000%, 7/1/35 | &nbsp;&nbsp; 7023 |
| &nbsp;&nbsp; 3301 | &nbsp;&nbsp;FHLMC, Pool #A36523, 5.000%, 8/1/35 | &nbsp;&nbsp; 3377 |
| &nbsp;&nbsp; 15416 | &nbsp;&nbsp;FHLMC, Pool #A46590, 5.000%, 8/1/35 | &nbsp;&nbsp; 15861 |
| &nbsp;&nbsp; 1701 | &nbsp;&nbsp;FHLMC, Pool #A64971, 5.500%, 8/1/37 | &nbsp;&nbsp; 1776 |
| &nbsp;&nbsp; 1053958 | &nbsp;&nbsp;FHLMC, Pool #A89148, 4.000%, 10/1/39 | &nbsp;&nbsp; 1042238 |
| &nbsp;&nbsp; 24816 | &nbsp;&nbsp;FHLMC, Pool #A96485, 4.500%, 1/1/41 | &nbsp;&nbsp; 25036 |
| &nbsp;&nbsp; 164548 | &nbsp;&nbsp;FHLMC, Pool #A97897, 4.500%, 4/1/41 | &nbsp;&nbsp; 165991 |
| &nbsp;&nbsp; 6574 | &nbsp;&nbsp;FHLMC, Pool #C62740, 7.000%, 1/1/32 | &nbsp;&nbsp; 6910 |
| &nbsp;&nbsp; 4222 | &nbsp;&nbsp;FHLMC, Pool #C72254, 6.500%, 7/1/32 | &nbsp;&nbsp; 4385 |
| &nbsp;&nbsp; 266 | &nbsp;&nbsp;FHLMC, Pool #C90986, 7.000%, 6/1/26 | &nbsp;&nbsp; 280 |
| &nbsp;&nbsp; 5002 | &nbsp;&nbsp;FHLMC, Pool #G02184, 5.000%, 4/1/36 | &nbsp;&nbsp; 5146 |
| &nbsp;&nbsp; 972866 | &nbsp;&nbsp;FHLMC, Pool #G05624, 4.500%, 9/1/39 | &nbsp;&nbsp; 983588 |
| &nbsp;&nbsp; 85963 | &nbsp;&nbsp;FHLMC, Pool #G05733, 5.000%, 11/1/39 | &nbsp;&nbsp; 88597 |
| &nbsp;&nbsp; 730313 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1436, 4.500%, 8/1/52 | &nbsp;&nbsp; 720702 |
| &nbsp;&nbsp; 624836 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD1620, 5.000%, 9/1/52 | &nbsp;&nbsp; 631678 |
| &nbsp;&nbsp; 751200 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD5007, 5.000%, 9/1/53 | &nbsp;&nbsp; 753125 |
| &nbsp;&nbsp; 4413 | &nbsp;&nbsp;FNMA, Pool #561741, 7.500%, 1/1/31 | &nbsp;&nbsp; 4541 |
| &nbsp;&nbsp; 4823 | &nbsp;&nbsp;FNMA, Pool #640291, 7.000%, 8/1/32 | &nbsp;&nbsp; 5064 |
| &nbsp;&nbsp; 6911 | &nbsp;&nbsp;FNMA, Pool #670402, 6.500%, 6/1/32 | &nbsp;&nbsp; 7185 |
| &nbsp;&nbsp; 51573 | &nbsp;&nbsp;FNMA, Pool #745257, 6.000%, 1/1/36 | &nbsp;&nbsp; 54556 |
| &nbsp;&nbsp; 15511 | &nbsp;&nbsp;FNMA, Pool #748895, 6.000%, 12/1/33 | &nbsp;&nbsp; 15506 |
| &nbsp;&nbsp; 25382 | &nbsp;&nbsp;FNMA, Pool #810049, 5.500%, 3/1/35 | &nbsp;&nbsp; 25750 |
| &nbsp;&nbsp; 18953 | &nbsp;&nbsp;FNMA, Pool #819297, 6.000%, 9/1/35 | &nbsp;&nbsp; 19992 |
| &nbsp;&nbsp; 397981 | &nbsp;&nbsp;FNMA, Pool #881279, 5.000%, 11/1/36 | &nbsp;&nbsp; 409323 |
| &nbsp;&nbsp; 11935 | &nbsp;&nbsp;FNMA, Pool #889060, 6.000%, 1/1/38 | &nbsp;&nbsp; 12881 |
| &nbsp;&nbsp; 25867 | &nbsp;&nbsp;FNMA, Pool #889061, 6.000%, 1/1/38 | &nbsp;&nbsp; 27366 |
| &nbsp;&nbsp; 868 | &nbsp;&nbsp;FNMA, Pool #895657, 6.500%, 8/1/36 | &nbsp;&nbsp; 871 |
| &nbsp;&nbsp; 49595 | &nbsp;&nbsp;FNMA, Pool #905049, 5.500%, 11/1/36 | &nbsp;&nbsp; 51450 |
| &nbsp;&nbsp; 131229 | &nbsp;&nbsp;FNMA, Pool #928553, 5.500%, 8/1/37 | &nbsp;&nbsp; 136463 |
| &nbsp;&nbsp; 58277 | &nbsp;&nbsp;FNMA, Pool #931535, 5.500%, 7/1/39 | &nbsp;&nbsp; 58408 |
| &nbsp;&nbsp; 63021 | &nbsp;&nbsp;FNMA, Pool #AA3467, 4.500%, 4/1/39 | &nbsp;&nbsp; 63641 |
| &nbsp;&nbsp; 98284 | &nbsp;&nbsp;FNMA, Pool #AA4584, 4.500%, 4/1/39 | &nbsp;&nbsp; 99251 |
| &nbsp;&nbsp; 23999 | &nbsp;&nbsp;FNMA, Pool #AB1800, 4.000%, 11/1/40 | &nbsp;&nbsp; 23545 |
| &nbsp;&nbsp; 996 | &nbsp;&nbsp;FNMA, Pool #AB2452, 4.000%, 3/1/26 | &nbsp;&nbsp; 993 |
| &nbsp;&nbsp; 20287 | &nbsp;&nbsp;FNMA, Pool #AD6193, 5.000%, 6/1/40 | &nbsp;&nbsp; 20563 |
| &nbsp;&nbsp; 37527 | &nbsp;&nbsp;FNMA, Pool #AE1568, 4.000%, 9/1/40 | &nbsp;&nbsp; 36818 |
| &nbsp;&nbsp; 191100 | &nbsp;&nbsp;FNMA, Pool #AE2497, 4.500%, 9/1/40 | &nbsp;&nbsp; 192688 |
| &nbsp;&nbsp; 22994 | &nbsp;&nbsp;FNMA, Pool #AE5441, 5.000%, 10/1/40 | &nbsp;&nbsp; 23672 |
| &nbsp;&nbsp; 63974 | &nbsp;&nbsp;FNMA, Pool #AH1135, 5.000%, 1/1/41 | &nbsp;&nbsp; 65860 |
| &nbsp;&nbsp; 339 | &nbsp;&nbsp;FNMA, Pool #AH3671, 4.000%, 2/1/26 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp; 186783 | &nbsp;&nbsp;FNMA, Pool #AH6622, 4.000%, 3/1/41 | &nbsp;&nbsp; 183088 |
| &nbsp;&nbsp; 176455 | &nbsp;&nbsp;FNMA, Pool #AL0150, 4.000%, 2/1/41 | &nbsp;&nbsp; 173018 |
| &nbsp;&nbsp; 32509 | &nbsp;&nbsp;FNMA, Pool #AL0211, 5.000%, 4/1/41 | &nbsp;&nbsp; 33468 |
| &nbsp;&nbsp; 227767 | &nbsp;&nbsp;FNMA, Pool #AS0779, 4.000%, 10/1/43 | &nbsp;&nbsp; 222811 |
| &nbsp;&nbsp; 616071 | &nbsp;&nbsp;FNMA, Pool #BW2258, 4.500%, 7/1/52 | &nbsp;&nbsp; 606331 |
| &nbsp;&nbsp; 1037256 | &nbsp;&nbsp;FNMA, Pool #FM4702, 2.500%, 10/1/50 | &nbsp;&nbsp; 895101 |
| &nbsp;&nbsp; 760285 | &nbsp;&nbsp;FNMA, Pool #FM8360, 2.500%, 8/1/51 | &nbsp;&nbsp; 655654 |
| &nbsp;&nbsp; 729335 | &nbsp;&nbsp;FNMA, Pool #FM8361, 2.500%, 8/1/51 | &nbsp;&nbsp; 623080 |
| &nbsp;&nbsp; 796426 | &nbsp;&nbsp;FNMA, Pool #FM9907, 2.500%, 12/1/51 | &nbsp;&nbsp; 679156 |
| &nbsp;&nbsp; 575123 | &nbsp;&nbsp;FNMA, Pool #FS2906, 5.000%, 9/1/52 | &nbsp;&nbsp; 577012 |
| &nbsp;&nbsp; 1419144 | &nbsp;&nbsp;FNMA, Pool #FS3024, 4.000%, 9/1/52 | &nbsp;&nbsp; 1353266 |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.8%<br> (Continued)** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 5.8%<br> (Continued)** |
| $1549592 | &nbsp;&nbsp;FNMA, Pool #FS7278, 5.000%, 11/1/53 | $1551075 |
| &nbsp;&nbsp; 1465732 | &nbsp;&nbsp;FNMA, Pool #FS8360, 3.500%, 9/1/52 | &nbsp;&nbsp; 1360966 |
| &nbsp;&nbsp; 694026 | &nbsp;&nbsp;FNMA, Pool #MA4128, 2.000%, 9/1/40 | &nbsp;&nbsp; 616877 |
| &nbsp;&nbsp; 439993 | &nbsp;&nbsp;GNMA, Pool #4424, 5.000%, 4/20/39 | &nbsp;&nbsp; 453036 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp; $15863010 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 4.7%** | &nbsp;&nbsp;**Asset-Backed Securities — 4.7%** |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (TSFR3M + 1.912%), 5.816%, 4/15/34<sup>(A)</sup> | &nbsp;&nbsp; 1101145 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Benefit Street Partners CLO XXV Ltd. (Cayman Islands), Ser 2021-25A, Class BR, 144a, (TSFR3M + 1.450%), 5.355%, 1/15/35<sup>(A)</sup> | &nbsp;&nbsp; 800636 |
| &nbsp;&nbsp; 933281 | &nbsp;&nbsp;CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60 | &nbsp;&nbsp; 785249 |
| &nbsp;&nbsp; 408 | &nbsp;&nbsp;CIT Home Equity Loan Trust, Ser 2002-1, Class AF5, 7.210%, 2/25/33<sup>(A)(C)</sup> | &nbsp;&nbsp; 410 |
| &nbsp;&nbsp; 1281000 | &nbsp;&nbsp;Coinstar Funding LLC, Ser 2017-1A, Class A2, 144a, 5.216%, 4/25/47 | &nbsp;&nbsp; 1464183 |
| &nbsp;&nbsp; 900000 | &nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Class D, 4.900%, 12/15/32 | &nbsp;&nbsp; 900313 |
| &nbsp;&nbsp; 74230 | &nbsp;&nbsp;FHLMC Structured Pass Through Securities, Ser T-20, Class A5, 8.370%, 12/25/29<sup>(A)(C)</sup> | &nbsp;&nbsp; 78082 |
| &nbsp;&nbsp; 439 | &nbsp;&nbsp;FNMA REMIC Trust, Ser 2001-W2, Class AF6, 6.089%, 10/25/31<sup>(A)(C)</sup> | &nbsp;&nbsp; 442 |
| &nbsp;&nbsp; 1063750 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | &nbsp;&nbsp; 1029737 |
| &nbsp;&nbsp; 953025 | &nbsp;&nbsp;Jersey Mike's Funding LLC, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50 | &nbsp;&nbsp; 953054 |
| &nbsp;&nbsp; 1457000 | &nbsp;&nbsp;Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1R, 144a, (TSFR3M + 1.450%), 5.334%, 10/19/34<sup>(A)</sup> | &nbsp;&nbsp; 1450930 |
| &nbsp;&nbsp; 91444 | &nbsp;&nbsp;Mid-State Capital Corp. Trust, Ser 2005-1, Class M2, 7.079%, 1/15/40 | &nbsp;&nbsp; 91709 |
| &nbsp;&nbsp; 1146000 | &nbsp;&nbsp;Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | &nbsp;&nbsp; 1100033 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Verdelite Static CLO Ltd. (Jersey), Ser 2024-1A, Class B, 144a, (TSFR3M + 1.650%), 5.534%, 7/20/32<sup>(A)</sup> | &nbsp;&nbsp; 801158 |
| &nbsp;&nbsp; 1527988 | &nbsp;&nbsp;Wendy's Funding LLC, Ser 2021-1A, Class A2II, 144a, 2.775%, 6/15/51 | &nbsp;&nbsp; 1364023 |
| &nbsp;&nbsp; 875000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-3A, Class C, 144a, 4.680%, 7/15/31 | &nbsp;&nbsp; 877479 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $12798583 |
|  | &nbsp;&nbsp;**Sovereign Government Obligations — 0.7%** | &nbsp;&nbsp;**Sovereign Government Obligations — 0.7%** |
| &nbsp;&nbsp; 697000 | &nbsp;&nbsp;Chile Government International Bond, 3.100%, 1/22/61 | &nbsp;&nbsp; 431373 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;Egypt Government International Bond, 144a, 5.800%, 9/30/27 | &nbsp;&nbsp; 202068 |
| &nbsp;&nbsp; 6400 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.717%, 7/3/26<sup>#</sup> | &nbsp;&nbsp; 6283 |
| &nbsp;&nbsp; 18798 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 4.962%, 1/3/30<sup>#</sup> | &nbsp;&nbsp; 16603 |
| &nbsp;&nbsp; 96800 | &nbsp;&nbsp;Ghana Government International Bond, 144a, 5.000%, 7/3/29<sup>(A)(C)</sup> | &nbsp;&nbsp; 94941 |
| &nbsp;&nbsp; 878000 | &nbsp;&nbsp;Mexico Government International Bond, 3.771%, 5/24/61 | &nbsp;&nbsp; 540409 |
| &nbsp;&nbsp; 736000 | &nbsp;&nbsp;Republic of Poland Government International Bond, 5.500%, 3/18/54 | &nbsp;&nbsp; 704842 |
|  | &nbsp;&nbsp;**Total Sovereign Government Obligations** | &nbsp;&nbsp;&nbsp; $1996519 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 4.6%** |  |
| 4747880 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | $4747880 |
| 7815719 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 7815719 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp; $12563599 |
|  | &nbsp;&nbsp;**Total Investment Securities—102.3%<br> (Cost $286,406,305)** | $280845189 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (2.3%)** | &nbsp;&nbsp;&nbsp; (6201049) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $274644140 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of December 31, 2025.* |
| *(B)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *(C)* | *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* |
| *(D)* | *Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the "interest only" holding.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $208,512.* |
| *#* | *Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *DAC – Designated Activity Company* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *GNMA – Government National Mortgage Association* |
| *IO – Interest Only* |
| *JSC – Joint Stock Company* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *MTN – Medium Term Note* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *RFUCCT1Y – FTSE USD IBOR Consumer Cash Fallbacks Term One year* |
| *SOFR30A – Secured Overnight Financing Rate 30 Day Average* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $83,486,341 or 30.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

------

Touchstone Active Bond Fund (Unaudited) (Continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$115589876* | *$—* | *$115589876* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*61781706* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*61781706* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*25338711* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*25338711* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*18821265* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*18821265* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*16091920* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*16091920* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*15863010* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*15863010* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12798583* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12798583* |
| *Sovereign Government Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1996519* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1996519* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;*12563599* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*12563599* |
| *Total* | *$12563599* | *$268281590* | *$—* | *$280845189* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Ares Credit Opportunities Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 11.7%** |  |
| $5938000 | &nbsp;&nbsp;Allison Transmission, Inc., 144a, 4.750%, 10/1/27 | $5930050 |
| &nbsp;&nbsp; 1794000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 6.375%, 10/15/32<sup>†</sup> | &nbsp;&nbsp; 1826748 |
| &nbsp;&nbsp; 1240000 | &nbsp;&nbsp;American Axle & Manufacturing, Inc., 144a, 7.750%, 10/15/33 | &nbsp;&nbsp; 1263575 |
| &nbsp;&nbsp; 480000 | &nbsp;&nbsp;Asbury Automotive Group, Inc., 4.500%, 3/1/28 | &nbsp;&nbsp; 478622 |
| &nbsp;&nbsp; 2340000 | &nbsp;&nbsp;Asbury Automotive Group, Inc., 144a, 4.625%, 11/15/29 | &nbsp;&nbsp; 2302580 |
| &nbsp;&nbsp; 2120000 | &nbsp;&nbsp;Bath & Body Works, Inc., 6.750%, 7/1/36 | &nbsp;&nbsp; 2104170 |
| &nbsp;&nbsp; 4986000 | &nbsp;&nbsp;Bath & Body Works, Inc., 6.875%, 11/1/35 | &nbsp;&nbsp; 5044177 |
| &nbsp;&nbsp; 92000 | &nbsp;&nbsp;Bath & Body Works, Inc., 7.500%, 6/15/29 | &nbsp;&nbsp; 94274 |
| &nbsp;&nbsp; 2801000 | &nbsp;&nbsp;Boyne USA, Inc., 144a, 4.750%, 5/15/29 | &nbsp;&nbsp; 2762697 |
| &nbsp;&nbsp; 780000 | &nbsp;&nbsp;Caesars Entertainment, Inc., 144a, 7.000%, 2/15/30 | &nbsp;&nbsp; 807813 |
| &nbsp;&nbsp; 4100000 | &nbsp;&nbsp;Churchill Downs, Inc., 144a, 4.750%, 1/15/28 | &nbsp;&nbsp; 4084715 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;Churchill Downs, Inc., 144a, 5.500%, 4/1/27 | &nbsp;&nbsp; 1199999 |
| &nbsp;&nbsp; 1896000 | &nbsp;&nbsp;Cougar JV Subsidiary LLC, 144a, 8.000%, 5/15/32 | &nbsp;&nbsp; 2026953 |
| &nbsp;&nbsp; 1792000 | &nbsp;&nbsp;Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 144a, 6.750%, 1/15/30 | &nbsp;&nbsp; 1703181 |
| &nbsp;&nbsp; 4640000 | &nbsp;&nbsp;Gap, Inc. (The), 144a, 3.625%, 10/1/29 | &nbsp;&nbsp; 4400252 |
| &nbsp;&nbsp; 4531000 | &nbsp;&nbsp;Hilton Domestic Operating Co., Inc., 144a, 3.750%, 5/1/29 | &nbsp;&nbsp; 4402279 |
| &nbsp;&nbsp; 748000 | &nbsp;&nbsp;LBM Acquisition LLC, 144a, 6.250%, 1/15/29 | &nbsp;&nbsp; 673655 |
| &nbsp;&nbsp; 4828000 | &nbsp;&nbsp;Light & Wonder International, Inc., 144a, 6.250%, 10/1/33 | &nbsp;&nbsp; 4886322 |
| &nbsp;&nbsp; 1222000 | &nbsp;&nbsp;Lithia Motors, Inc., 144a, 4.375%, 1/15/31 | &nbsp;&nbsp; 1174581 |
| &nbsp;&nbsp; 3966000 | &nbsp;&nbsp;Live Nation Entertainment, Inc., 144a, 4.750%, 10/15/27 | &nbsp;&nbsp; 3973857 |
| &nbsp;&nbsp; 1125000 | &nbsp;&nbsp;Live Nation Entertainment, Inc., 144a, 6.500%, 5/15/27 | &nbsp;&nbsp; 1135109 |
| &nbsp;&nbsp; 3449000 | &nbsp;&nbsp;MGM Resorts International, 4.750%, 10/15/28 | &nbsp;&nbsp; 3441308 |
| &nbsp;&nbsp; 2825000 | &nbsp;&nbsp;Nissan Motor Co. Ltd. (Japan), 144a, 8.125%, 7/17/35 | &nbsp;&nbsp; 3004367 |
| &nbsp;&nbsp; 2917000 | &nbsp;&nbsp;Ontario Gaming GTA LP/OTG Co-Issuer, Inc. (Canada), 144a, 8.000%, 8/1/30 | &nbsp;&nbsp; 2765881 |
| &nbsp;&nbsp; 651000 | &nbsp;&nbsp;Qnity Electronics, Inc., 144a, 5.750%, 8/15/32 | &nbsp;&nbsp; 665614 |
| &nbsp;&nbsp; 930000 | &nbsp;&nbsp;Qnity Electronics, Inc., 144a, 6.250%, 8/15/33 | &nbsp;&nbsp; 963993 |
| &nbsp;&nbsp; 2270000 | &nbsp;&nbsp;QXO Building Products, Inc., 144a, 6.750%, 4/30/32 | &nbsp;&nbsp; 2370830 |
| &nbsp;&nbsp; 2130000 | &nbsp;&nbsp;Service Corp. International, 5.750%, 10/15/32 | &nbsp;&nbsp; 2167786 |
| &nbsp;&nbsp; 456000 | &nbsp;&nbsp;Six Flags Entertainment Corp / Canada's Wonderland Co. / Magnum Management Corp., 5.375%, 4/15/27 | &nbsp;&nbsp; 454211 |
| &nbsp;&nbsp; 4980000 | &nbsp;&nbsp;Six Flags Entertainment Corp., 144a, 7.250%, 5/15/31<sup>†</sup> | &nbsp;&nbsp; 4778397 |
| &nbsp;&nbsp; 9947931 | &nbsp;&nbsp;Spirit Loyalty Cayman Ltd. / Spirit IP Cayman Ltd., 144a, 11.000%, 3/12/30<sup>(A)</sup> | &nbsp;&nbsp; 497763 |
| &nbsp;&nbsp; 990000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.625%, 12/1/31 | &nbsp;&nbsp; 938523 |
| &nbsp;&nbsp; 2925000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.500%, 2/15/28 | &nbsp;&nbsp; 2900833 |
| &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 6.625%, 3/15/32 | &nbsp;&nbsp; 1637806 |
| &nbsp;&nbsp; 5690000 | &nbsp;&nbsp;Tenneco, Inc., 144a, 8.000%, 11/17/28 | &nbsp;&nbsp; 5708207 |
| &nbsp;&nbsp; 3035000 | &nbsp;&nbsp;Under Armour, Inc., 144a, 7.250%, 7/15/30 | &nbsp;&nbsp; 3037946 |
| &nbsp;&nbsp; 3717000 | &nbsp;&nbsp;Victoria's Secret & Co., 144a, 4.625%, 7/15/29<sup>†</sup> | &nbsp;&nbsp; 3603604 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;Viking Cruises Ltd., 144a, 7.000%, 2/15/29 | &nbsp;&nbsp; 1206870 |
| &nbsp;&nbsp; 2030000 | &nbsp;&nbsp;Viking Ocean Cruises Ship VII Ltd., 144a, 5.625%, 2/15/29 | &nbsp;&nbsp; 2033222 |
| &nbsp;&nbsp; 407000 | &nbsp;&nbsp;VistaJet Malta Finance PLC / Vista Management Holding, Inc. (Switzerland), 144a, 9.500%, 6/1/28<sup>†</sup> | &nbsp;&nbsp; 420952 |
| &nbsp;&nbsp; 6549000 | &nbsp;&nbsp;VistaJet Malta Finance PLC / XO Management Holding, Inc. (Switzerland), 144a, 6.375%, 2/1/30 | &nbsp;&nbsp; 6232347 |
| &nbsp;&nbsp; 3478000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 5.050%, 3/15/42 | &nbsp;&nbsp; 2455468 |
| &nbsp;&nbsp; 2874000 | &nbsp;&nbsp;ZF North America Capital, Inc. (Germany), 144a, 7.500%, 3/24/31 | &nbsp;&nbsp; 2904597 |
|  |  | &nbsp;&nbsp;106466134 |
|  | &nbsp;&nbsp;**Energy — 10.5%** |  |
| &nbsp;&nbsp; 2577000 | &nbsp;&nbsp;Archrock Partners LP / Archrock Partners Finance Corp., 144a, 6.250%, 4/1/28 | &nbsp;&nbsp; 2591560 |
| &nbsp;&nbsp; 1436000 | &nbsp;&nbsp;Archrock Partners LP / Archrock Partners Finance Corp., 144a, 6.625%, 9/1/32 | &nbsp;&nbsp; 1480978 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 10.5% (Continued)** |  |
| $1690000 | &nbsp;&nbsp;Ascent Resources Utica Holdings LLC / ARU Finance Corp., 144a, 6.625%, 10/15/32 | $1747179 |
| &nbsp;&nbsp; 1701000 | &nbsp;&nbsp;CVR Energy, Inc., 144a, 5.750%, 2/15/28 | &nbsp;&nbsp; 1675286 |
| &nbsp;&nbsp; 900000 | &nbsp;&nbsp;CVR Energy, Inc., 144a, 8.500%, 1/15/29 | &nbsp;&nbsp; 925063 |
| &nbsp;&nbsp; 6153000 | &nbsp;&nbsp;ITT Holdings LLC, 144a, 6.500%, 8/1/29 | &nbsp;&nbsp; 5906292 |
| &nbsp;&nbsp; 2130000 | &nbsp;&nbsp;Kodiak Gas Services LLC, 144a, 6.500%, 10/1/33<sup>†</sup> | &nbsp;&nbsp; 2176624 |
| &nbsp;&nbsp; 2130000 | &nbsp;&nbsp;Kodiak Gas Services LLC, 144a, 6.750%, 10/1/35 | &nbsp;&nbsp; 2189502 |
| &nbsp;&nbsp; 860000 | &nbsp;&nbsp;Kodiak Gas Services LLC, 144a, 7.250%, 2/15/29 | &nbsp;&nbsp; 894792 |
| &nbsp;&nbsp; 5606000 | &nbsp;&nbsp;Moss Creek Resources Holdings, Inc., 144a, 8.250%, 9/1/31 | &nbsp;&nbsp; 5367736 |
| &nbsp;&nbsp; 1335000 | &nbsp;&nbsp;Nabors Industries, Inc., 144a, 7.625%, 11/15/32 | &nbsp;&nbsp; 1312905 |
| &nbsp;&nbsp; 1887000 | &nbsp;&nbsp;Nabors Industries, Inc., 144a, 8.875%, 8/15/31 | &nbsp;&nbsp; 1830564 |
| &nbsp;&nbsp; 2038000 | &nbsp;&nbsp;Nabors Industries, Inc., 144a, 9.125%, 1/31/30 | &nbsp;&nbsp; 2130851 |
| &nbsp;&nbsp; 3355000 | &nbsp;&nbsp;Northern Oil & Gas, Inc., 144a, 7.875%, 10/15/33 | &nbsp;&nbsp; 3266600 |
| &nbsp;&nbsp; 955000 | &nbsp;&nbsp;NuStar Logistics LP, 5.625%, 4/28/27 | &nbsp;&nbsp; 966112 |
| &nbsp;&nbsp; 6804000 | &nbsp;&nbsp;ONEOK, Inc., 5.450%, 6/1/47 | &nbsp;&nbsp; 6266722 |
| &nbsp;&nbsp; 208000 | &nbsp;&nbsp;ONEOK, Inc., 5.600%, 4/1/44 | &nbsp;&nbsp; 196905 |
| &nbsp;&nbsp; 3110000 | &nbsp;&nbsp;Summit Midstream Holdings LLC, 144a, 8.625%, 10/31/29 | &nbsp;&nbsp; 3224697 |
| &nbsp;&nbsp; 3110000 | &nbsp;&nbsp;Sunoco LP, 144a, 6.250%, 7/1/33 | &nbsp;&nbsp; 3186957 |
| &nbsp;&nbsp; 2220000 | &nbsp;&nbsp;Sunoco LP, 144a, 7.250%, 5/1/32 | &nbsp;&nbsp; 2347286 |
| &nbsp;&nbsp; 5779000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 6.000%, 12/31/30<sup>†</sup> | &nbsp;&nbsp; 5825734 |
| &nbsp;&nbsp; 1045000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 6.000%, 9/1/31 | &nbsp;&nbsp; 1040170 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 144a, 7.375%, 2/15/29 | &nbsp;&nbsp; 1034441 |
| &nbsp;&nbsp; 2582000 | &nbsp;&nbsp;TerraForm Power Operating LLC, 144a, 5.000%, 1/31/28 | &nbsp;&nbsp; 2579472 |
| &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;TerraForm Power Operating LLC, 144a, 4.750%, 1/15/30 | &nbsp;&nbsp; 1700843 |
| &nbsp;&nbsp; 6234426 | &nbsp;&nbsp;TGNR Intermediate Holdings LLC, 144a, 5.500%, 10/15/29 | &nbsp;&nbsp; 6172922 |
| &nbsp;&nbsp; 4334000 | &nbsp;&nbsp;TransMontaigne Partners LLC, 144a, 8.500%, 6/15/30<sup>†</sup> | &nbsp;&nbsp; 4374441 |
| &nbsp;&nbsp; 7736000 | &nbsp;&nbsp;Transocean International Ltd., 6.800%, 3/15/38<sup>†</sup> | &nbsp;&nbsp; 6651112 |
| &nbsp;&nbsp; 5763000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 8.375%, 6/1/31 | &nbsp;&nbsp; 5732772 |
| &nbsp;&nbsp; 1992000 | &nbsp;&nbsp;Venture Global Plaquemines LNG LLC, 144a, 6.500%, 1/15/34 | &nbsp;&nbsp; 2040286 |
| &nbsp;&nbsp; 630000 | &nbsp;&nbsp;Venture Global Plaquemines LNG LLC, 144a, 7.500%, 5/1/33 | &nbsp;&nbsp; 680716 |
| &nbsp;&nbsp; 1545000 | &nbsp;&nbsp;Venture Global Plaquemines LNG LLC, 144a, 7.750%, 5/1/35 | &nbsp;&nbsp; 1688476 |
| &nbsp;&nbsp; 7738000 | &nbsp;&nbsp;Western Midstream Operating LP, 5.250%, 2/1/50 | &nbsp;&nbsp; 6641234 |
|  |  | &nbsp;&nbsp; 95847230 |
|  | &nbsp;&nbsp;**Industrials — 10.3%** |  |
| &nbsp;&nbsp; 1477000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 4.625%, 5/15/30 | &nbsp;&nbsp; 1449864 |
| &nbsp;&nbsp; 1370000 | &nbsp;&nbsp;Amsted Industries, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 1411085 |
| &nbsp;&nbsp; 144913 | &nbsp;&nbsp;Ardagh Group SA, 144a, 9.500%, 12/1/30 | &nbsp;&nbsp; 157175 |
| &nbsp;&nbsp; 2149252 | &nbsp;&nbsp;Ardagh Group SA, PIK, 144a, 12.000%, 12/1/30<sup>(A)</sup> | &nbsp;&nbsp; 1963879 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 4.750%, 7/15/27 | &nbsp;&nbsp; 201119 |
| &nbsp;&nbsp; 522860 | &nbsp;&nbsp;Artera Services LLC, 144a, 8.500%, 2/15/31 | &nbsp;&nbsp; 434152 |
| &nbsp;&nbsp; 3015000 | &nbsp;&nbsp;Avient Corp., 144a, 6.250%, 11/1/31 | &nbsp;&nbsp; 3099155 |
| &nbsp;&nbsp; 1103000 | &nbsp;&nbsp;Axon Enterprise, Inc., 144a, 6.250%, 3/15/33 | &nbsp;&nbsp; 1147481 |
| &nbsp;&nbsp; 6174000 | &nbsp;&nbsp;Ball Corp., 2.875%, 8/15/30 | &nbsp;&nbsp; 5709299 |
| &nbsp;&nbsp; 2297000 | &nbsp;&nbsp;Builders FirstSource, Inc., 144a, 6.375%, 3/1/34 | &nbsp;&nbsp; 2375771 |
| &nbsp;&nbsp; 2140000 | &nbsp;&nbsp;BWX Technologies, Inc., 144a, 4.125%, 4/15/29 | &nbsp;&nbsp; 2085321 |
| &nbsp;&nbsp; 2620000 | &nbsp;&nbsp;BWX Technologies, Inc., 144a, 4.125%, 6/30/28 | &nbsp;&nbsp; 2580469 |
| &nbsp;&nbsp; 2589000 | &nbsp;&nbsp;Chart Industries, Inc., 144a, 9.500%, 1/1/31 | &nbsp;&nbsp; 2748138 |
| &nbsp;&nbsp; 2830000 | &nbsp;&nbsp;Clean Harbors, Inc., 144a, 5.750%, 10/15/33 | &nbsp;&nbsp; 2903580 |
| &nbsp;&nbsp; 625000 | &nbsp;&nbsp;Clean Harbors, Inc., 144a, 6.375%, 2/1/31 | &nbsp;&nbsp; 643114 |
| &nbsp;&nbsp; 739000 | &nbsp;&nbsp;Coherent Corp., 144a, 5.000%, 12/15/29 | &nbsp;&nbsp; 736167 |
| &nbsp;&nbsp; 676 | &nbsp;&nbsp;CP Atlas Buyer, Inc., 144a, 7.000%, 12/1/28 | &nbsp;&nbsp; 634 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 10.3% (Continued)** |  |
| $970000 | &nbsp;&nbsp;CP Atlas Buyer, Inc., 144a, 9.750%, 7/15/30 | $1004677 |
| &nbsp;&nbsp; 3713000 | &nbsp;&nbsp;CP Atlas Buyer, Inc., PIK, 144a, 12.750%, 1/15/31<sup>(A)</sup> | &nbsp;&nbsp; 3517773 |
| &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;Crown Americas LLC, 144a, 5.875%, 6/1/33 | &nbsp;&nbsp; 1738886 |
| &nbsp;&nbsp; 2712000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.625%, 12/15/30 | &nbsp;&nbsp; 2826782 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Entegris, Inc., 144a, 3.625%, 5/1/29 | &nbsp;&nbsp; 480499 |
| &nbsp;&nbsp; 1488000 | &nbsp;&nbsp;Entegris, Inc., 144a, 4.750%, 4/15/29 | &nbsp;&nbsp; 1493000 |
| &nbsp;&nbsp; 2650000 | &nbsp;&nbsp;First Student Bidco, Inc. / First Transit Parent, Inc., 144a, 4.000%, 7/31/29 | &nbsp;&nbsp; 2576394 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;GFL Environmental, Inc., 144a, 4.000%, 8/1/28 | &nbsp;&nbsp; 1479599 |
| &nbsp;&nbsp; 3721000 | &nbsp;&nbsp;Graphic Packaging International LLC, 144a, 3.750%, 2/1/30 | &nbsp;&nbsp; 3517414 |
| &nbsp;&nbsp; 798000 | &nbsp;&nbsp;Graphic Packaging International LLC, 144a, 6.375%, 7/15/32 | &nbsp;&nbsp; 812868 |
| &nbsp;&nbsp; 2795000 | &nbsp;&nbsp;JH North America Holdings, Inc., 144a, 6.125%, 7/31/32 | &nbsp;&nbsp; 2869227 |
| &nbsp;&nbsp; 1851000 | &nbsp;&nbsp;LABL, Inc., 144a, 8.625%, 10/1/31 | &nbsp;&nbsp; 984458 |
| &nbsp;&nbsp; 7176000 | &nbsp;&nbsp;Madison IAQ LLC, 144a, 4.125%, 6/30/28 | &nbsp;&nbsp; 7050711 |
| &nbsp;&nbsp; 2230000 | &nbsp;&nbsp;Quikrete Holdings, Inc., 144a, 6.375%, 3/1/32 | &nbsp;&nbsp; 2321205 |
| &nbsp;&nbsp; 4243000 | &nbsp;&nbsp;Sealed Air Corp/Sealed Air Corp. US, 144a, 6.125%, 2/1/28 | &nbsp;&nbsp; 4313366 |
| &nbsp;&nbsp; 2829000 | &nbsp;&nbsp;Sensata Technologies BV, 144a, 4.000%, 4/15/29 | &nbsp;&nbsp; 2761166 |
| &nbsp;&nbsp; 1370000 | &nbsp;&nbsp;Standard Building Solutions, Inc., 144a, 6.500%, 8/15/32 | &nbsp;&nbsp; 1410371 |
| &nbsp;&nbsp; 4343000 | &nbsp;&nbsp;Standard Industries, Inc., 144a, 4.375%, 7/15/30 | &nbsp;&nbsp; 4192336 |
| &nbsp;&nbsp; 160000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.750%, 8/15/28 | &nbsp;&nbsp; 162819 |
| &nbsp;&nbsp; 2257000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.250%, 1/31/34 | &nbsp;&nbsp; 2341825 |
| &nbsp;&nbsp; 4332000 | &nbsp;&nbsp;Trident TPI Holdings, Inc., 144a, 12.750%, 12/31/28 | &nbsp;&nbsp; 4438398 |
| &nbsp;&nbsp; 1965000 | &nbsp;&nbsp;Trivium Packaging Finance BV (Netherlands), 144a, 8.250%, 7/15/30 | &nbsp;&nbsp; 2106409 |
| &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;Waste Pro USA, Inc., 144a, 7.000%, 2/1/33 | &nbsp;&nbsp; 1493116 |
| &nbsp;&nbsp; 2507000 | &nbsp;&nbsp;WESCO Distribution, Inc., 144a, 6.375%, 3/15/33 | &nbsp;&nbsp; 2617519 |
| &nbsp;&nbsp; 6477000 | &nbsp;&nbsp;Wilsonart LLC, 144a, 11.000%, 8/15/32 | &nbsp;&nbsp; 5787732 |
|  |  | &nbsp;&nbsp; 93944953 |
|  | &nbsp;&nbsp;**Communication Services — 9.9%** |  |
| &nbsp;&nbsp; 6269928 | &nbsp;&nbsp;Altice France SA (France), 144a, 6.875%, 10/15/30 | &nbsp;&nbsp; 6080525 |
| &nbsp;&nbsp; 72000 | &nbsp;&nbsp;Belo Corp., 7.250%, 9/15/27 | &nbsp;&nbsp; 74861 |
| &nbsp;&nbsp; 675000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 620396 |
| &nbsp;&nbsp; 4584000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 5.000%, 2/1/28 | &nbsp;&nbsp; 4547968 |
| &nbsp;&nbsp; 7580000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.500%, 8/15/30 | &nbsp;&nbsp; 7136660 |
| &nbsp;&nbsp; 3911000 | &nbsp;&nbsp;CommScope LLC, 144a, 4.750%, 9/1/29<sup>†</sup> | &nbsp;&nbsp; 3905486 |
| &nbsp;&nbsp; 205000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 3.375%, 2/15/31<sup>†</sup> | &nbsp;&nbsp; 124081 |
| &nbsp;&nbsp; 76000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.500%, 11/15/31<sup>†</sup> | &nbsp;&nbsp; 46360 |
| &nbsp;&nbsp; 582000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 6.500%, 2/1/29 | &nbsp;&nbsp; 385555 |
| &nbsp;&nbsp; 1315000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.625%, 12/1/30 | &nbsp;&nbsp; 469706 |
| &nbsp;&nbsp; 4767000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 5.750%, 1/15/30 | &nbsp;&nbsp; 1762193 |
| &nbsp;&nbsp; 416000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.125%, 12/1/30<sup>†</sup> | &nbsp;&nbsp; 255110 |
| &nbsp;&nbsp; 1761000 | &nbsp;&nbsp;DISH DBS Corp., 144a, 5.250%, 12/1/26 | &nbsp;&nbsp; 1707725 |
| &nbsp;&nbsp; 2673000 | &nbsp;&nbsp;DISH DBS Corp., 144a, 5.750%, 12/1/28 | &nbsp;&nbsp; 2624224 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Fox Corp., 5.476%, 1/25/39 | &nbsp;&nbsp; 1508008 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Fox Corp., 5.576%, 1/25/49 | &nbsp;&nbsp; 1448204 |
| &nbsp;&nbsp; 3043000 | &nbsp;&nbsp;Gen Digital, Inc., 144a, 6.250%, 4/1/33 | &nbsp;&nbsp; 3138088 |
| &nbsp;&nbsp; 4277000 | &nbsp;&nbsp;Go Daddy Operating Co. LLC / GD Finance Co., Inc., 144a, 3.500%, 3/1/29<sup>†</sup> | &nbsp;&nbsp; 4100708 |
| &nbsp;&nbsp; 5051000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 4.750%, 10/15/30<sup>†</sup> | &nbsp;&nbsp; 3917774 |
| &nbsp;&nbsp; 1635000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 7.250%, 8/15/33 | &nbsp;&nbsp; 1670690 |
| &nbsp;&nbsp; 951000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 9.625%, 7/15/32<sup>†</sup> | &nbsp;&nbsp; 989539 |
| &nbsp;&nbsp; 7629000 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 4.875%, 6/15/29 | &nbsp;&nbsp; 7419203 |
| &nbsp;&nbsp; 4155000 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 7.000%, 3/31/34 | &nbsp;&nbsp; 4282027 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Communication Services — 9.9% (Continued)** |  |
| $1061000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 4.750%, 11/1/28 | $1053414 |
| &nbsp;&nbsp; 128000 | &nbsp;&nbsp;Nexstar Media, Inc., 144a, 5.625%, 7/15/27 | &nbsp;&nbsp; 128344 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Odido Group Holding BV (Netherlands), 144a, 5.500%, 1/15/30 | &nbsp;&nbsp; 1182997 |
| &nbsp;&nbsp; 5485000 | &nbsp;&nbsp;Scripps Escrow II, Inc., 144a, 3.875%, 1/15/29 | &nbsp;&nbsp; 5046961 |
| &nbsp;&nbsp; 6389000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 3.125%, 9/1/26 | &nbsp;&nbsp; 6332736 |
| &nbsp;&nbsp; 526000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 5.000%, 8/1/27 | &nbsp;&nbsp; 527281 |
| &nbsp;&nbsp; 240000 | &nbsp;&nbsp;Sirius XM Radio LLC, 144a, 5.500%, 7/1/29 | &nbsp;&nbsp; 241964 |
| &nbsp;&nbsp; 3594000 | &nbsp;&nbsp;Snap, Inc., 144a, 6.875%, 3/1/33 | &nbsp;&nbsp; 3724265 |
| &nbsp;&nbsp; 2794000 | &nbsp;&nbsp;TEGNA, Inc., 4.625%, 3/15/28 | &nbsp;&nbsp; 2765557 |
| &nbsp;&nbsp; 134000 | &nbsp;&nbsp;Virgin Media Finance PLC (United Kingdom), 144a, 5.000%, 7/15/30 | &nbsp;&nbsp; 118084 |
| &nbsp;&nbsp; 1460000 | &nbsp;&nbsp;Virgin Media Secured Finance PLC (United Kingdom), 144a, 4.500%, 8/15/30 | &nbsp;&nbsp; 1351871 |
| &nbsp;&nbsp; 5127000 | &nbsp;&nbsp;Virgin Media Vendor Financing Notes IV DAC (United Kingdom), 144a, 5.000%, 7/15/28 | &nbsp;&nbsp; 5029557 |
| &nbsp;&nbsp; 400000 | &nbsp;&nbsp;Vmed O2 UK Financing I PLC (United Kingdom), 144a, 4.250%, 1/31/31 | &nbsp;&nbsp; 364876 |
| &nbsp;&nbsp; 4535521 | &nbsp;&nbsp;Zayo Group Holdings, Inc., PIK, 144a, 9.250%, 3/9/30<sup>(A)</sup> | &nbsp;&nbsp; 4308745 |
|  |  | &nbsp;&nbsp; 90391743 |
|  | &nbsp;&nbsp;**Consumer Staples — 7.3%** |  |
| &nbsp;&nbsp; 1704000 | &nbsp;&nbsp;1011778 BC ULC / New Red Finance, Inc. (Canada), 144a, 5.625%, 9/15/29 | &nbsp;&nbsp; 1734989 |
| &nbsp;&nbsp; 6107000 | &nbsp;&nbsp;Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 144a, 3.500%, 3/15/29 | &nbsp;&nbsp; 5864807 |
| &nbsp;&nbsp; 605000 | &nbsp;&nbsp;Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 144a, 6.250%, 3/15/33 | &nbsp;&nbsp; 621948 |
| &nbsp;&nbsp; 6256000 | &nbsp;&nbsp;American Builders & Contractors Supply Co., Inc., 144a, 4.000%, 1/15/28 | &nbsp;&nbsp; 6213078 |
| &nbsp;&nbsp; 405000 | &nbsp;&nbsp;Bath & Body Works, Inc., 144a, 6.625%, 10/1/30 | &nbsp;&nbsp; 414098 |
| &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;C&S Group Enterprises LLC, 144a, 5.000%, 12/15/28 | &nbsp;&nbsp; 3238887 |
| &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;Chobani LLC / Chobani Finance Corp., Inc., 144a, 4.625%, 11/15/28 | &nbsp;&nbsp; 3200602 |
| &nbsp;&nbsp; 5227000 | &nbsp;&nbsp;Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc., 144a, 4.625%, 1/15/29 | &nbsp;&nbsp; 5076661 |
| &nbsp;&nbsp; 1615000 | &nbsp;&nbsp;Gates Corp., 144a, 6.875%, 7/1/29 | &nbsp;&nbsp; 1677145 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;Iceland Bondco PLC (United Kingdom), 144a, 4.375%, 5/15/28 | &nbsp;&nbsp; 1575596 |
| &nbsp;&nbsp; 5484000 | &nbsp;&nbsp;Korn Ferry, 144a, 4.625%, 12/15/27 | &nbsp;&nbsp; 5479406 |
| &nbsp;&nbsp; 3303000 | &nbsp;&nbsp;Lamb Weston Holdings, Inc., 144a, 4.125%, 1/31/30<sup>†</sup> | &nbsp;&nbsp; 3195069 |
| &nbsp;&nbsp; 5143000 | &nbsp;&nbsp;LCM Investments Holdings II LLC, 144a, 4.875%, 5/1/29 | &nbsp;&nbsp; 5068520 |
| &nbsp;&nbsp; 1274000 | &nbsp;&nbsp;Papa John's International, Inc., 144a, 3.875%, 9/15/29 | &nbsp;&nbsp; 1208325 |
| &nbsp;&nbsp; 2484000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 4.250%, 8/1/29 | &nbsp;&nbsp; 2434434 |
| &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 5.500%, 10/15/27 | &nbsp;&nbsp; 2253168 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Performance Food Group, Inc., 144a, 6.125%, 9/15/32 | &nbsp;&nbsp; 1030926 |
| &nbsp;&nbsp; 5480000 | &nbsp;&nbsp;Post Holdings, Inc., 144a, 6.250%, 10/15/34 | &nbsp;&nbsp; 5510418 |
| &nbsp;&nbsp; 2816000 | &nbsp;&nbsp;Raven Acquisition Holdings LLC, 144a, 6.875%, 11/15/31 | &nbsp;&nbsp; 2901471 |
| &nbsp;&nbsp; 1810000 | &nbsp;&nbsp;Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 144a, 6.750%, 8/15/32 | &nbsp;&nbsp; 1868713 |
| &nbsp;&nbsp; 1871000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 1803093 |
| &nbsp;&nbsp; 2605000 | &nbsp;&nbsp;Tyson Foods, Inc., 5.100%, 9/28/48 | &nbsp;&nbsp; 2408840 |
| &nbsp;&nbsp; 1813000 | &nbsp;&nbsp;Wolverine World Wide, Inc., 144a, 4.000%, 8/15/29 | &nbsp;&nbsp; 1676114 |
|  |  | &nbsp;&nbsp; 66456308 |
|  | &nbsp;&nbsp;**Financials — 6.9%** |  |
| &nbsp;&nbsp; 2733000 | &nbsp;&nbsp;Acrisure LLC / Acrisure Finance, Inc., 144a, 7.500%, 11/6/30 | &nbsp;&nbsp; 2845777 |
| &nbsp;&nbsp; 4402000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 4.250%, 10/15/27<sup>†</sup> | &nbsp;&nbsp; 4373988 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 6.9% (Continued)** |  |
| $3451000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 7.000%, 1/15/31 | $3580328 |
| &nbsp;&nbsp; 702000 | &nbsp;&nbsp;AmWINS Group, Inc., 144a, 6.375%, 2/15/29 | &nbsp;&nbsp; 721818 |
| &nbsp;&nbsp; 3324000 | &nbsp;&nbsp;Apollo Debt Solutions BDC, 6.900%, 4/13/29 | &nbsp;&nbsp; 3487827 |
| &nbsp;&nbsp; 4919000 | &nbsp;&nbsp;Arthur J Gallagher & Co., 5.550%, 2/15/55 | &nbsp;&nbsp; 4739615 |
| &nbsp;&nbsp; 2319000 | &nbsp;&nbsp;Asurion LLC and Asurion Co-Issuer, Inc., 144a, 8.000%, 12/31/32 | &nbsp;&nbsp; 2405954 |
| &nbsp;&nbsp; 2151000 | &nbsp;&nbsp;Coinbase Global, Inc., 144a, 3.375%, 10/1/28 | &nbsp;&nbsp; 2049137 |
| &nbsp;&nbsp; 3590000 | &nbsp;&nbsp;Focus Financial Partners LLC, 144a, 6.750%, 9/15/31 | &nbsp;&nbsp; 3696461 |
| &nbsp;&nbsp; 600000 | &nbsp;&nbsp;GGAM Finance Ltd. (Ireland), 144a, 5.875%, 3/15/30 | &nbsp;&nbsp; 608874 |
| &nbsp;&nbsp; 2985000 | &nbsp;&nbsp;GGAM Finance Ltd. (Ireland), 144a, 6.875%, 4/15/29<sup>†</sup> | &nbsp;&nbsp; 3095717 |
| &nbsp;&nbsp; 5255000 | &nbsp;&nbsp;Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC (United Kingdom), 144a, 7.250%, 2/15/31 | &nbsp;&nbsp; 5411620 |
| &nbsp;&nbsp; 3561000 | &nbsp;&nbsp;Jefferies Finance LLC / JFIN Co-Issuer Corp., 144a, 5.000%, 8/15/28 | &nbsp;&nbsp; 3427890 |
| &nbsp;&nbsp; 2157441 | &nbsp;&nbsp;Midcap Financial Issuer Trust, 144a, 5.625%, 1/15/30<sup>†</sup> | &nbsp;&nbsp; 2022369 |
| &nbsp;&nbsp; 4731000 | &nbsp;&nbsp;Midcap Financial Issuer Trust, 144a, 6.500%, 5/1/28 | &nbsp;&nbsp; 4723767 |
| &nbsp;&nbsp; 7722000 | &nbsp;&nbsp;OneMain Finance Corp., 3.500%, 1/15/27 | &nbsp;&nbsp; 7646634 |
| &nbsp;&nbsp; 392000 | &nbsp;&nbsp;OneMain Finance Corp., 3.875%, 9/15/28 | &nbsp;&nbsp; 382006 |
| &nbsp;&nbsp; 176000 | &nbsp;&nbsp;OneMain Finance Corp., 6.750%, 9/15/33 | &nbsp;&nbsp; 178510 |
| &nbsp;&nbsp; 1937000 | &nbsp;&nbsp;OneMain Finance Corp., 7.125%, 9/15/32 | &nbsp;&nbsp; 2012407 |
| &nbsp;&nbsp; 1570000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 6.375%, 8/1/33 | &nbsp;&nbsp; 1636916 |
| &nbsp;&nbsp; 1242000 | &nbsp;&nbsp;Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc., 144a, 3.625%, 3/1/29 | &nbsp;&nbsp; 1199595 |
| &nbsp;&nbsp; 3070000 | &nbsp;&nbsp;Ryan Specialty LLC, 144a, 5.875%, 8/1/32 | &nbsp;&nbsp; 3136827 |
|  |  | &nbsp;&nbsp; 63384037 |
|  | &nbsp;&nbsp;**Health Care — 6.7%** |  |
| &nbsp;&nbsp; 4892000 | &nbsp;&nbsp;1261229 BC Ltd., 144a, 10.000%, 4/15/32 | &nbsp;&nbsp; 5089163 |
| &nbsp;&nbsp; 527000 | &nbsp;&nbsp;Bausch Health Cos., Inc. (Canada), 144a, 4.875%, 6/1/28 | &nbsp;&nbsp; 471665 |
| &nbsp;&nbsp; 1147000 | &nbsp;&nbsp;Charles River Laboratories International, Inc., 144a, 4.250%, 5/1/28 | &nbsp;&nbsp; 1136682 |
| &nbsp;&nbsp; 2615000 | &nbsp;&nbsp;CHS / Community Health Systems, Inc., 144a, 5.250%, 5/15/30 | &nbsp;&nbsp; 2455797 |
| &nbsp;&nbsp; 1001000 | &nbsp;&nbsp;CHS/Community Health Systems, Inc., 144a, 4.750%, 2/15/31 | &nbsp;&nbsp; 891582 |
| &nbsp;&nbsp; 2361000 | &nbsp;&nbsp;CHS/Community Health Systems, Inc., 144a, 6.875%, 4/15/29 | &nbsp;&nbsp; 2101290 |
| &nbsp;&nbsp; 3418000 | &nbsp;&nbsp;Fortrea Holdings, Inc., 144a, 7.500%, 7/1/30 | &nbsp;&nbsp; 3493893 |
| &nbsp;&nbsp; 1926000 | &nbsp;&nbsp;GENMAB A/S/GENMAB FINANCE LLC (Denmark), 144a, 6.250%, 12/15/32 | &nbsp;&nbsp; 1973375 |
| &nbsp;&nbsp; 1828000 | &nbsp;&nbsp;GENMAB A/S/GENMAB FINANCE LLC (Denmark), 144a, 7.250%, 12/15/33 | &nbsp;&nbsp; 1926145 |
| &nbsp;&nbsp; 2960000 | &nbsp;&nbsp;Global Medical Response, Inc., 144a, 7.375%, 10/1/32 | &nbsp;&nbsp; 3076547 |
| &nbsp;&nbsp; 6162000 | &nbsp;&nbsp;Grifols Escrow Issuer SA (Spain), 144a, 4.750%, 10/15/28 | &nbsp;&nbsp; 6085196 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Grifols SA (Spain), 144a, 3.875%, 10/15/28 | &nbsp;&nbsp; 581181 |
| &nbsp;&nbsp; 2271000 | &nbsp;&nbsp;HCA, Inc., 5.250%, 6/15/49 | &nbsp;&nbsp; 2059936 |
| &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;Integer Holdings Corp., 144a, 1.875%, 3/15/30 | &nbsp;&nbsp; 2630550 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;IQVIA, Inc., 144a, 6.250%, 6/1/32 | &nbsp;&nbsp; 3134754 |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;Laboratoire Eimer Selas (France), 144a, 5.000%, 2/1/29 | &nbsp;&nbsp; 2460425 |
| &nbsp;&nbsp; 1509000 | &nbsp;&nbsp;LifePoint Health, Inc., 144a, 9.875%, 8/15/30 | &nbsp;&nbsp; 1624348 |
| &nbsp;&nbsp; 2607000 | &nbsp;&nbsp;LifePoint Health, Inc., 144a, 8.375%, 2/15/32 | &nbsp;&nbsp; 2829799 |
| &nbsp;&nbsp; 4486000 | &nbsp;&nbsp;Medline Borrower LP, 144a, 3.875%, 4/1/29 | &nbsp;&nbsp; 4379722 |
| &nbsp;&nbsp; 3856000 | &nbsp;&nbsp;Molina Healthcare, Inc., 144a, 4.375%, 6/15/28 | &nbsp;&nbsp; 3792166 |
| &nbsp;&nbsp; 4077000 | &nbsp;&nbsp;Option Care Health, Inc., 144a, 4.375%, 10/31/29 | &nbsp;&nbsp; 3983352 |
| &nbsp;&nbsp; 2315000 | &nbsp;&nbsp;Sotera Health Holdings LLC, 144a, 7.375%, 6/1/31 | &nbsp;&nbsp; 2442225 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;Tenet Healthcare Corp., 5.125%, 11/1/27 | &nbsp;&nbsp; 3006710 |
|  |  | &nbsp;&nbsp; 61626503 |
|  | &nbsp;&nbsp;**Information Technology — 4.7%** |  |
| &nbsp;&nbsp; 569067 | &nbsp;&nbsp;Asmodee Group AB (Sweden), 144a, 5.750%, 12/15/29 | &nbsp;&nbsp; 702337 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Information Technology — 4.7% (Continued)** |  |
| $1655000 | &nbsp;&nbsp;Central Parent LLC / CDK Global II LLC / CDK Financing Co., Inc., 144a, 8.000%, 6/15/29 | $1438672 |
| &nbsp;&nbsp; 745000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 6.500%, 3/31/29 | &nbsp;&nbsp; 754750 |
| &nbsp;&nbsp; 756000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 6.625%, 8/15/33 | &nbsp;&nbsp; 749239 |
| &nbsp;&nbsp; 1714000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 8.250%, 6/30/32 | &nbsp;&nbsp; 1791199 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 9.000%, 9/30/29 | &nbsp;&nbsp; 3123580 |
| &nbsp;&nbsp; 3278000 | &nbsp;&nbsp;Elastic NV, 144a, 4.125%, 7/15/29 | &nbsp;&nbsp; 3174385 |
| &nbsp;&nbsp; 3691000 | &nbsp;&nbsp;McAfee Corp., 144a, 7.375%, 2/15/30 | &nbsp;&nbsp; 3218838 |
| &nbsp;&nbsp; 5454000 | &nbsp;&nbsp;ON Semiconductor Corp., 144a, 3.875%, 9/1/28 | &nbsp;&nbsp; 5333232 |
| &nbsp;&nbsp; 2021000 | &nbsp;&nbsp;Open Text Holdings, Inc. (Canada), 144a, 4.125%, 2/15/30 | &nbsp;&nbsp; 1931715 |
| &nbsp;&nbsp; 2659000 | &nbsp;&nbsp;Oracle Corp., 3.650%, 3/25/41 | &nbsp;&nbsp; 1945660 |
| &nbsp;&nbsp; 3497000 | &nbsp;&nbsp;PTC, Inc., 144a, 4.000%, 2/15/28<sup>†</sup> | &nbsp;&nbsp; 3444418 |
| &nbsp;&nbsp; 5990000 | &nbsp;&nbsp;Science Applications International Corp., 144a, 5.875%, 11/1/33 | &nbsp;&nbsp; 6072301 |
| &nbsp;&nbsp; 302000 | &nbsp;&nbsp;Seagate Data Storage Technology Pte Ltd., 144a, 3.125%, 7/15/29 | &nbsp;&nbsp; 265886 |
| &nbsp;&nbsp; 350000 | &nbsp;&nbsp;SS&C Technologies, Inc., 144a, 5.500%, 9/30/27 | &nbsp;&nbsp; 350306 |
| &nbsp;&nbsp; 4332000 | &nbsp;&nbsp;SS&C Technologies, Inc., 144a, 6.500%, 6/1/32 | &nbsp;&nbsp; 4507073 |
| &nbsp;&nbsp; 4327000 | &nbsp;&nbsp;Synaptics, Inc., 144a, 4.000%, 6/15/29<sup>†</sup> | &nbsp;&nbsp; 4188799 |
|  |  | &nbsp;&nbsp; 42992390 |
|  | &nbsp;&nbsp;**Materials — 4.5%** |  |
| &nbsp;&nbsp; 9519192 | &nbsp;&nbsp;ASP Unifrax Holdings, Inc., PIK, 144a, 7.100%, 9/30/29<sup>(A)</sup> | &nbsp;&nbsp; 1047111 |
| &nbsp;&nbsp; 4191000 | &nbsp;&nbsp;Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV, 144a, 4.750%, 6/15/27 | &nbsp;&nbsp; 4195252 |
| &nbsp;&nbsp; 1968000 | &nbsp;&nbsp;Celanese US Holdings LLC, 6.750%, 4/15/33<sup>†</sup> | &nbsp;&nbsp; 1957696 |
| &nbsp;&nbsp; 2314000 | &nbsp;&nbsp;Chemours Co. (The), 144a, 5.750%, 11/15/28 | &nbsp;&nbsp; 2250389 |
| &nbsp;&nbsp; 4571000 | &nbsp;&nbsp;Constellium SE, 144a, 3.750%, 4/15/29 | &nbsp;&nbsp; 4413752 |
| &nbsp;&nbsp; 1434000 | &nbsp;&nbsp;Fortescue Treasury Pty Ltd. (Australia), 144a, 4.375%, 4/1/31 | &nbsp;&nbsp; 1386519 |
| &nbsp;&nbsp; 1202000 | &nbsp;&nbsp;Fortescue Treasury Pty Ltd. (Australia), 144a, 4.500%, 9/15/27 | &nbsp;&nbsp; 1199056 |
| &nbsp;&nbsp; 3424000 | &nbsp;&nbsp;Freeport-McMoRan, Inc., 5.400%, 11/14/34 | &nbsp;&nbsp; 3535415 |
| &nbsp;&nbsp; 881000 | &nbsp;&nbsp;Novelis Corp., 144a, 4.750%, 1/30/30 | &nbsp;&nbsp; 851046 |
| &nbsp;&nbsp; 2829000 | &nbsp;&nbsp;Novelis Corp., 144a, 6.375%, 8/15/33 | &nbsp;&nbsp; 2867959 |
| &nbsp;&nbsp; 4478000 | &nbsp;&nbsp;SCIH Salt Holdings, Inc., 144a, 4.875%, 5/1/28<sup>†</sup> | &nbsp;&nbsp; 4478815 |
| &nbsp;&nbsp; 1438000 | &nbsp;&nbsp;SCIH Salt Holdings, Inc., 144a, 6.625%, 5/1/29 | &nbsp;&nbsp; 1444183 |
| &nbsp;&nbsp; 1774000 | &nbsp;&nbsp;Solstice Advanced Materials, Inc., 144a, 5.625%, 9/30/33 | &nbsp;&nbsp; 1789601 |
| &nbsp;&nbsp; 4926000 | &nbsp;&nbsp;Tronox, Inc., 144a, 4.625%, 3/15/29<sup>†</sup> | &nbsp;&nbsp; 3448478 |
| &nbsp;&nbsp; 3279000 | &nbsp;&nbsp;WR Grace Holdings LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 3121105 |
| &nbsp;&nbsp; 1386000 | &nbsp;&nbsp;WR Grace Holdings LLC, 144a, 4.875%, 6/15/27 | &nbsp;&nbsp; 1382039 |
| &nbsp;&nbsp; 1509000 | &nbsp;&nbsp;WR Grace Holdings LLC, 144a, 6.625%, 8/15/32 | &nbsp;&nbsp; 1528269 |
|  |  | &nbsp;&nbsp; 40896685 |
|  | &nbsp;&nbsp;**Real Estate — 4.2%** |  |
| &nbsp;&nbsp; 2190000 | &nbsp;&nbsp;Blackstone Mortgage Trust, Inc. REIT, 144a, 7.750%, 12/1/29 | &nbsp;&nbsp; 2336507 |
| &nbsp;&nbsp; 5137000 | &nbsp;&nbsp;Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 144a, 4.500%, 4/1/27 | &nbsp;&nbsp; 5076670 |
| &nbsp;&nbsp; 27000 | &nbsp;&nbsp;Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 144a, 5.750%, 5/15/26 | &nbsp;&nbsp; 26868 |
| &nbsp;&nbsp; 80000 | &nbsp;&nbsp;HAT Holdings I LLC / HAT Holdings II LLC, 144a, 8.000%, 6/15/27 | &nbsp;&nbsp; 83051 |
| &nbsp;&nbsp; 509000 | &nbsp;&nbsp;HAT Holdings I LLC / HAT Holdings II LLC REIT, 144a, 3.375%, 6/15/26 | &nbsp;&nbsp; 505770 |
| &nbsp;&nbsp; 700000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 4.500%, 2/15/31 | &nbsp;&nbsp; 667447 |
| &nbsp;&nbsp; 4756000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 4.875%, 9/15/29 | &nbsp;&nbsp; 4692023 |
| &nbsp;&nbsp; 1505000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 5.250%, 7/15/30 | &nbsp;&nbsp; 1486797 |
| &nbsp;&nbsp; 2156000 | &nbsp;&nbsp;Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. REIT, 144a, 4.250%, 2/1/27 | &nbsp;&nbsp; 2141655 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 80.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Real Estate — 4.2% (Continued)** |  |
| $1495000 | &nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. REIT, 5.000%, 10/15/27<sup>†</sup> | $1443270 |
| &nbsp;&nbsp; 1738000 | &nbsp;&nbsp;MPT Operating Partnership LP / MPT Finance Corp. REIT, 144a, 8.500%, 2/15/32 | &nbsp;&nbsp; 1856068 |
| &nbsp;&nbsp; 238000 | &nbsp;&nbsp;Neinor Homes SA (Spain), 144a, 5.875%, 2/15/30 | &nbsp;&nbsp; 290306 |
| &nbsp;&nbsp; 5726000 | &nbsp;&nbsp;RLJ Lodging Trust LP REIT, 144a, 3.750%, 7/1/26 | &nbsp;&nbsp; 5694879 |
| &nbsp;&nbsp; 793000 | &nbsp;&nbsp;RLJ Lodging Trust LP REIT, 144a, 4.000%, 9/15/29 | &nbsp;&nbsp; 751758 |
| &nbsp;&nbsp; 5885000 | &nbsp;&nbsp;Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC REIT, 144a, 6.500%, 2/15/29 | &nbsp;&nbsp; 5651464 |
| &nbsp;&nbsp; 1869000 | &nbsp;&nbsp;Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC REIT, 144a, 8.625%, 6/15/32 | &nbsp;&nbsp; 1841042 |
| &nbsp;&nbsp; 1810000 | &nbsp;&nbsp;VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 3.750%, 2/15/27 | &nbsp;&nbsp; 1798337 |
| &nbsp;&nbsp; 1801000 | &nbsp;&nbsp;VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.125%, 8/15/30 | &nbsp;&nbsp; 1748412 |
| &nbsp;&nbsp; 46000 | &nbsp;&nbsp;VICI Properties LP / VICI Note Co., Inc. REIT, 144a, 4.625%, 12/1/29 | &nbsp;&nbsp; 45941 |
|  |  | &nbsp;&nbsp; 38138265 |
|  | &nbsp;&nbsp;**Utilities — 3.3%** |  |
| &nbsp;&nbsp; 2926000 | &nbsp;&nbsp;Alpha Generation LLC, 144a, 6.750%, 10/15/32 | &nbsp;&nbsp; 3024068 |
| &nbsp;&nbsp; 1076000 | &nbsp;&nbsp;Calpine Corp., 144a, 4.625%, 2/1/29 | &nbsp;&nbsp; 1073301 |
| &nbsp;&nbsp; 4200000 | &nbsp;&nbsp;Calpine Corp., 144a, 4.500%, 2/15/28 | &nbsp;&nbsp; 4202742 |
| &nbsp;&nbsp; 4871000 | &nbsp;&nbsp;NRG Energy, Inc., 144a, 3.625%, 2/15/31 | &nbsp;&nbsp; 4551865 |
| &nbsp;&nbsp; 15000 | &nbsp;&nbsp;NRG Energy, Inc., 144a, 3.875%, 2/15/32 | &nbsp;&nbsp; 14026 |
| &nbsp;&nbsp; 645000 | &nbsp;&nbsp;NRG Energy, Inc., 144a, 7.000%, 3/15/33 | &nbsp;&nbsp; 713880 |
| &nbsp;&nbsp; 3844000 | &nbsp;&nbsp;NRG Energy, Inc., 144a, 6.250%, 11/1/34 | &nbsp;&nbsp; 3947407 |
| &nbsp;&nbsp; 4203000 | &nbsp;&nbsp;Pattern Energy Operations LP / Pattern Energy Operations, Inc., 144a, 4.500%, 8/15/28 | &nbsp;&nbsp; 4145183 |
| &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;Vistra Operations Co. LLC, 144a, 5.000%, 7/31/27 | &nbsp;&nbsp; 3959088 |
| &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;Vistra Operations Co. LLC, 144a, 5.625%, 2/15/27 | &nbsp;&nbsp; 1350586 |
| &nbsp;&nbsp; 466000 | &nbsp;&nbsp;Vistra Operations Co. LLC, 144a, 4.300%, 7/15/29 | &nbsp;&nbsp; 463047 |
| &nbsp;&nbsp; 2608000 | &nbsp;&nbsp;VoltaGrid LLC, 144a, 7.375%, 11/1/30 | &nbsp;&nbsp; 2584276 |
|  |  | &nbsp;&nbsp; 30029469 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $730173717 |
|  | &nbsp;&nbsp;**Bank Loans — 8.7%<sup>(B)</sup>** |  |
|  | &nbsp;&nbsp;**Information Technology — 1.7%** |  |
| &nbsp;&nbsp; 1732433 | &nbsp;&nbsp;AthenaHealth Group Inc., Initial Term Loan, (1M SOFR + 2.750%), 6.913%, 2/15/29 | &nbsp;&nbsp; 1734235 |
| &nbsp;&nbsp; 1126418 | &nbsp;&nbsp;Avaya Inc., Exit Term Loan, 7.000%, 8/01/28<sup>(C)</sup> | &nbsp;&nbsp; 1007344 |
| &nbsp;&nbsp; 2104126 | &nbsp;&nbsp;Cloud Software Group Inc., Tenth Amendment Tranche B-2 Term Loan, (3M SOFR + 3.250%), 7.252%, 3/21/31 | &nbsp;&nbsp; 2105768 |
| &nbsp;&nbsp; 4855000 | &nbsp;&nbsp;Dayforce Inc., Term Loan B, 3.000%, 8/20/32<sup>(C)</sup> | &nbsp;&nbsp; 4837668 |
| &nbsp;&nbsp; 2153284 | &nbsp;&nbsp;Polaris Newco LLC, First Lien Dollar Term Loan, (3M SOFR + 4.262%), 8.570%, 6/02/28 | &nbsp;&nbsp; 2073354 |
| &nbsp;&nbsp; 3738762 | &nbsp;&nbsp;VeriFone Systems Inc, 2025-1 Refinancing Term Loan, (3M SOFR + 5.512%), 9.820%, 8/18/28 | &nbsp;&nbsp; 3533130 |
|  |  | &nbsp;&nbsp; 15291499 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.4%** |  |
| &nbsp;&nbsp; 2819732 | &nbsp;&nbsp;AI Aqua Merger Sub Inc. FKA Osmosis Buyer Limited, 2025 Refinancing Term B, (1M SOFR + 3.000%), 7.280%, 7/31/28 | &nbsp;&nbsp; 2824892 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;Armorica Lux Sarl, Facility B Loan, (3M EURIBOR + 4.925%), 6.951%, 7/28/28 | &nbsp;&nbsp; 1342548 |
| &nbsp;&nbsp; 1003113 | &nbsp;&nbsp;Financiere Labeyrie Fine Foods, Facility B, (3M EURIBOR + 5.000%), 7.000%, 7/30/29 | &nbsp;&nbsp; 1089642 |
| &nbsp;&nbsp; 617707 | &nbsp;&nbsp;Froneri International Limited, Facility B4, (6M SOFR + 2.000%), 6.197%, 9/30/31 | &nbsp;&nbsp; 617015 |
| &nbsp;&nbsp; 785381 | &nbsp;&nbsp;PG Polaris Bidco S.À R.L (Ursa Minor), Second Amendment Refinancing Term Loan, (1M SOFR + 2.250%), 6.091%, 3/26/31 | &nbsp;&nbsp; 786975 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Bank Loans — 8.7%<sup>(B)</sup> (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — (Continued)** |  |
| $1700850 | &nbsp;&nbsp;Pye Barker Fire & Safety LLC, Closing Date Term Loan, (3M SOFR + 2.500%), 6.206%, 12/16/32 | $1710766 |
| &nbsp;&nbsp; 254150 | &nbsp;&nbsp;Pye Barker Fire & Safety LLC, Initial Delayed Draw Term Loan, 2.500%, 12/16/32<sup>(C)</sup> | &nbsp;&nbsp; 255632 |
| &nbsp;&nbsp; 3741200 | &nbsp;&nbsp;Turquoise Topco LTD, Term Loan B, 3.250%, 12/30/32<sup>(C)</sup> | &nbsp;&nbsp; 3689759 |
|  |  | &nbsp;&nbsp; 12317229 |
|  | &nbsp;&nbsp;**Communication Services — 1.1%** |  |
| &nbsp;&nbsp; 5665753 | &nbsp;&nbsp;NEP Group Inc., 2025 Dollar Term Loan, (1M SOFR + 4.500%), 8.537%, 10/17/31<sup>(C)</sup> | &nbsp;&nbsp; 5171756 |
| &nbsp;&nbsp; 4104192 | &nbsp;&nbsp;Telenet Financing USD LLC, Term Loan AR Facility, (1M SOFR + 2.114%), 6.265%, 4/30/28<sup>(C)</sup> | &nbsp;&nbsp; 4101113 |
| &nbsp;&nbsp; 480000 | &nbsp;&nbsp;Virgin Media Bristol LLC, Facility Q Advance, (1M SOFR + 3.364%), 7.515%, 1/31/29 | &nbsp;&nbsp; 480600 |
|  |  | &nbsp;&nbsp; 9753469 |
|  | &nbsp;&nbsp;**Materials — 1.0%** |  |
| &nbsp;&nbsp; 5714984 | &nbsp;&nbsp;Aruba Investments Holdings LLC, First Lien Initial Dollar Term Loan, (1M SOFR + 4.100%), 8.263%, 11/24/27<sup>(C)</sup> | &nbsp;&nbsp; 5207779 |
| &nbsp;&nbsp; 2936936 | &nbsp;&nbsp;Flexsys Cayman Holdings, LP, First Out Term Loan, (3M SOFR + 6.250%), 10.449%, 8/01/29<sup>(C)</sup> | &nbsp;&nbsp; 1776846 |
| &nbsp;&nbsp; 5511082 | &nbsp;&nbsp;Flexsys Cayman Holdings, LP, Second Out Refinancing Term Loan, (3M SOFR + 5.512%), 9.710%, 8/01/29 | &nbsp;&nbsp; 303109 |
| &nbsp;&nbsp; 2201923 | &nbsp;&nbsp;SCIH Salt Holdings Inc., Term B-1 Loans, (1M SOFR + 2.750%), 6.522%, 1/31/29 | &nbsp;&nbsp; 2205138 |
|  |  | &nbsp;&nbsp; 9492872 |
|  | &nbsp;&nbsp;**Energy — 0.8%** |  |
| &nbsp;&nbsp; 4189124 | &nbsp;&nbsp;Freeport LNG Investments, LLP, Tla Term Loan, (3M SOFR + 3.262%), 7.587%, 11/16/26 | &nbsp;&nbsp; 4190883 |
| &nbsp;&nbsp; 3070779 | &nbsp;&nbsp;Pasadena Performance Products LLC, 2025-1 Repricing Term Loan, (3M SOFR + 3.250%), 7.252%, 2/27/32 | &nbsp;&nbsp; 3066940 |
| &nbsp;&nbsp; 913784 | &nbsp;&nbsp;PES Holdings LLC, Tranche C Loan, 6.990%, 12/31/26<sup>(C)</sup> | &nbsp;&nbsp; 4569 |
| &nbsp;&nbsp; 286889 | &nbsp;&nbsp;Prairie ECI Acquiror LP, Term Loan B-4, (1M SOFR + 3.750%), 7.913%, 8/01/29 | &nbsp;&nbsp; 288264 |
|  |  | &nbsp;&nbsp; 7550656 |
|  | &nbsp;&nbsp;**Industrials — 0.8%** |  |
| &nbsp;&nbsp; 7420754 | &nbsp;&nbsp;LABL Inc., Initial Dollar Term Loan, (1M SOFR + 5.100%), 9.263%, 10/29/28 | &nbsp;&nbsp; 4673739 |
| &nbsp;&nbsp; 6911110 | &nbsp;&nbsp;Pretium PKG Holdings Inc., Initial Third Amendment Tranche A-1 Term Loan (First Lien), (3M SOFR + 4.600%), 0.702%, 10/02/28 | &nbsp;&nbsp; 2720006 |
|  |  | &nbsp;&nbsp; 7393745 |
|  | &nbsp;&nbsp;**Financials — 0.7%** |  |
| &nbsp;&nbsp; 2490466 | &nbsp;&nbsp;CHPPR Midco Inc. (f/k/a Air Methods Corporation), Amendment No. 1 Term Loan, (3M SOFR + 8.750%), 12.750%, 12/31/29 | &nbsp;&nbsp; 2487352 |
| &nbsp;&nbsp; 4399419 | &nbsp;&nbsp;OID-OL Intermediate I LLC (AKA Quest Software US Holdings Inc), Initial 2nd out Term Loan, (3M SOFR + 4.400%), 8.708%, 2/01/29 | &nbsp;&nbsp; 3653366 |
| &nbsp;&nbsp; 668030 | &nbsp;&nbsp;OID-OL Intermediate I LLC, Initial First Out Term Loan, (3M SOFR + 6.000%), 10.308%, 2/01/29 | &nbsp;&nbsp; 684450 |
|  |  | &nbsp;&nbsp; 6825168 |
|  | &nbsp;&nbsp;**Health Care — 0.7%** |  |
| &nbsp;&nbsp; 4911735 | &nbsp;&nbsp;Gainwell Acquisition Corp, Term B Loan, (3M SOFR + 4.100%), 8.101%, 10/01/27<sup>(C)</sup> | &nbsp;&nbsp; 4817185 |
| &nbsp;&nbsp; 642474 | &nbsp;&nbsp;Maravai Intermediate Holdings LLC, Term Loan B, (3M SOFR + 3.000%), 7.325%, 10/19/27 | &nbsp;&nbsp; 631231 |
| &nbsp;&nbsp; 1138261 | &nbsp;&nbsp;Medline Borrower LP, 2030 Refinancing Term Loan, (1M SOFR + 2.000%), 6.163%, 10/23/30 | &nbsp;&nbsp; 1141938 |
|  |  | &nbsp;&nbsp; 6590354 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
| $2628597 | $2585882 |
| &nbsp;&nbsp; 649589 | &nbsp;&nbsp; 548903 |
| &nbsp;&nbsp; 1282959 | &nbsp;&nbsp; 1262111 |
|  | &nbsp;&nbsp; 4396896 |
|  | &nbsp;&nbsp; $79611888 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 4.2%** |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Aimco CLO 14 Ltd. (Cayman Islands), Ser 2021-14A, Class E1R, 144a, (TSFR3M + 4.800%), 8.717%, 10/20/38<sup>(D)</sup> | &nbsp;&nbsp; 250022 |
| &nbsp;&nbsp; 603924 &nbsp;&nbsp;Aimco CLO 16 Ltd. (Cayman Islands), Ser 2021-16A, Class SUB, 144a, 13.580%, 7/17/37<sup>(E)</sup> | &nbsp;&nbsp; 373748 |
| &nbsp;&nbsp; 470000 &nbsp;&nbsp;AIMCO CLO 23 Ltd. (Cayman Islands), Ser 2025-23A, Class SUB, 144a, 9.972%, 4/20/38<sup>(E)</sup> | &nbsp;&nbsp; 397966 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;AIMCO CLO 28 Ltd. (Cayman Islands), Ser 2025-28A, Class E, 144a, (TSFR3M + 4.600%), 8.347%, 1/16/39<sup>(D)</sup> | &nbsp;&nbsp; 249989 |
| &nbsp;&nbsp; 500000 &nbsp;&nbsp;AIMCO CLO 28 Ltd. (Cayman Islands), Ser 2025-28A, Class SUB, 144a, 1/16/39<sup>(E)</sup> | &nbsp;&nbsp; 457669 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Anchorage Capital CLO 19 Ltd. (Cayman Islands), Ser 2021-19A, Class SUB, 144a, 10/15/38<sup>(E)</sup> | &nbsp;&nbsp; 164352 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Anchorage Capital CLO 33 Ltd. (Cayman Islands), Ser 2025-33A, Class E, 144a, (TSFR3M + 6.100%), 10.373%, 10/20/38<sup>(D)</sup> | &nbsp;&nbsp; 252896 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Anchorage Capital CLO 34 Ltd. (Cayman Islands), Ser 2025-34A, Class E, 144a, (TSFR3M + 5.900%), 9.573%, 1/15/39<sup>(D)</sup> | &nbsp;&nbsp; 249482 |
| &nbsp;&nbsp; 1060000 &nbsp;&nbsp;Anchorage Credit Funding 18 Ltd. (Cayman Islands), Ser 2025-18A, Class SUB, 144a, 10/22/40<sup>(E)</sup> | &nbsp;&nbsp; 998798 |
| &nbsp;&nbsp; 1150000 &nbsp;&nbsp;Anchorage Credit Funding 19 Ltd. (Cayman Islands), Ser 2025-19A, Class SUB, 144a, 10/25/40<sup>(E)</sup> | &nbsp;&nbsp; 1066244 |
| &nbsp;&nbsp; 340000 &nbsp;&nbsp;Atrium XV (Cayman Islands), Ser 15A, Class SUB, 144a, 11.668%, 1/23/31<sup>(E)</sup> | &nbsp;&nbsp; 118793 |
| &nbsp;&nbsp; 520638 &nbsp;&nbsp;Bain Capital Credit CLO Ltd. (Cayman Islands), Ser 2017-2A, Class SUB, 144a, 10.751%, 7/25/37<sup>(E)</sup> | &nbsp;&nbsp; 211652 |
| &nbsp;&nbsp; 620000 &nbsp;&nbsp;Bain Capital Credit CLO Ltd. (Cayman Islands), Ser 2021-2A, Class SUB, 144a, 12.643%, 7/16/34<sup>(E)</sup> | &nbsp;&nbsp; 140206 |
| &nbsp;&nbsp; 2267000 &nbsp;&nbsp;Bain Capital Credit CLO Ltd. (Cayman Islands), Ser 2022-1A, Class SUB, 144a, 7.947%, 10/18/38<sup>(E)</sup> | &nbsp;&nbsp; 694684 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Barings CLO Ltd. (Cayman Islands), Ser 2023-1A, Class ER, 144a, (TSFR3M + 6.700%), 10.584%, 4/20/38<sup>(D)</sup> | &nbsp;&nbsp; 253012 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Bayard Park CLO Ltd. (Cayman Islands), Ser 2025-1A, Class M, 144a, 7/24/38<sup>(E)</sup> | &nbsp;&nbsp; 2568 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Bayard Park CLO Ltd. (Cayman Islands), Ser 2025-1A, Class SUB, 144a, 7/24/38<sup>(E)</sup> | &nbsp;&nbsp; 171104 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Benefit Street Partners CLO XXI Ltd. (Cayman Islands), Ser 2020-21A, Class ER2, 144a, (TSFR3M + 4.950%), 8.873%, 1/15/39<sup>(D)</sup> | &nbsp;&nbsp; 250253 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Benefit Street Partners CLO XXXII Ltd. (Jersey), Ser 2023-32A, Class SUB, 144a, 10/25/36<sup>(E)</sup> | &nbsp;&nbsp; 207001 |
| &nbsp;&nbsp; 490000 &nbsp;&nbsp;Benefit Street Partners CLO XXXVII Ltd. (Cayman Islands), Ser 2024-37A, Class SUB, 144a, 12.531%, 1/25/38<sup>(E)</sup> | &nbsp;&nbsp; 429385 |
| &nbsp;&nbsp; 1000000 &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2021-4A, Class SUB, 144a, 12.939%, 4/20/34<sup>(E)</sup> | &nbsp;&nbsp; 549509 |
| &nbsp;&nbsp; 750000 &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2021-5A, Class SUB, 144a, 8.621%, 3/31/38<sup>(E)</sup> | &nbsp;&nbsp; 363652 |
| &nbsp;&nbsp; 267913 &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2022-6A, Class SUB, 144a, 10/25/38<sup>(E)</sup> | &nbsp;&nbsp; 217893 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 4.2% (Continued)** |
| $460000 &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2023-1A, Class SUB, 144a, 1.655%, 7/20/37<sup>(E)</sup> | $335181 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Carlyle US CLO Ltd. (), Ser 2025-5A, Class E, 144a, (TSFR3M + 4.950%), 8.600%, 1/15/39<sup>(D)</sup> | &nbsp;&nbsp; 250956 |
| &nbsp;&nbsp; 420000 &nbsp;&nbsp;Carlyle US CLO Ltd. (), Ser 2025-5A, Class SUB, 144a, 1/15/39<sup>(E)</sup> | &nbsp;&nbsp; 368066 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Cedar Funding XIV CLO Ltd. (Cayman Islands), Ser 2021-14A, Class SUB, 144a, 10.060%, 7/15/33<sup>(E)</sup> | &nbsp;&nbsp; 94783 |
| &nbsp;&nbsp; 2754292 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2015-4A, Class SUB, 144a, 6.946%, 1/20/39<sup>(E)</sup> | &nbsp;&nbsp; 652062 |
| &nbsp;&nbsp; 500000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2018-5A, Class SUB, 144a, 2.441%, 7/15/38<sup>(E)</sup> | &nbsp;&nbsp; 203540 |
| &nbsp;&nbsp; 772725 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2020-3A, Class SUB, 144a, 11.991%, 10/20/34<sup>(E)</sup> | &nbsp;&nbsp; 487531 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2021-3A, Class ER, 144a, (TSFR3M + 4.850%), 8.755%, 10/15/38<sup>(D)</sup> | &nbsp;&nbsp; 248131 |
| &nbsp;&nbsp; 350000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2021-5A, Class ER, 144a, (TSFR3M + 5.100%), 9.005%, 1/15/38<sup>(D)</sup> | &nbsp;&nbsp; 351306 |
| &nbsp;&nbsp; 1093949 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2021-7A, Class ER, 144a, (TSFR3M + 4.900%), 8.760%, 1/23/35<sup>(D)</sup> | &nbsp;&nbsp; 1085584 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2023-1A, Class ER, 144a, (TSFR3M + 4.700%), 8.605%, 10/15/38<sup>(D)</sup> | &nbsp;&nbsp; 248796 |
| &nbsp;&nbsp; 391000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2025-3A, Class SUB, 144a, 6.561%, 7/21/38<sup>(E)</sup> | &nbsp;&nbsp; 323424 |
| &nbsp;&nbsp; 460000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2025-4A, Class SUB, 144a, 10/24/38<sup>(E)</sup> | &nbsp;&nbsp; 392455 |
| &nbsp;&nbsp; 500000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2025-7A, Class SUB, 144a, 1/22/39<sup>(E)</sup> | &nbsp;&nbsp; 448495 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2025-8A, Class E, 144a, (TSFR3M + 4.750%), 8.421%, 1/24/39<sup>(D)</sup> | &nbsp;&nbsp; 250067 |
| &nbsp;&nbsp; 632000 &nbsp;&nbsp;Clermont Park CLO Ltd. (Cayman Islands), Ser 2025-1A, Class M, 144a, 0.551%, 4/24/38<sup>(E)</sup> | &nbsp;&nbsp; 14056 |
| &nbsp;&nbsp; 632000 &nbsp;&nbsp;Clermont Park CLO Ltd. (Cayman Islands), Ser 2025-1A, Class SUB, 144a, 9.600%, 4/24/38<sup>(E)</sup> | &nbsp;&nbsp; 453375 |
| &nbsp;&nbsp; 650000 &nbsp;&nbsp;Dryden 98 CLO Ltd. (Cayman Islands), Ser 2022-98X, Class SUB, 13.136%, 4/20/35<sup>(E)</sup> | &nbsp;&nbsp; 227362 |
| &nbsp;&nbsp; 1945000 &nbsp;&nbsp;Elmwood CLO 24 Ltd. (Cayman Islands), Ser 2023-3A, Class SUB, 144a, 10.871%, 12/11/33<sup>(E)</sup> | &nbsp;&nbsp; 1008582 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Elmwood CLO 42 Ltd. (Cayman Islands), Ser 2025-5A, Class E, 144a, (TSFR3M + 6.500%), 10.784%, 3/31/38<sup>(D)</sup> | &nbsp;&nbsp; 258305 |
| &nbsp;&nbsp; 760000 &nbsp;&nbsp;Elmwood CLO 44 Ltd. (Cayman Islands), Ser 2025-7A, Class SUB, 144a, 10/20/38<sup>(E)</sup> | &nbsp;&nbsp; 633023 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Elmwood CLO 46 Ltd. (Cayman Islands), Ser 2025-9A, Class E, 144a, (TSFR3M + 5.000%), 8.683%, 1/17/39<sup>(D)</sup> | &nbsp;&nbsp; 251126 |
| &nbsp;&nbsp; 588235 &nbsp;&nbsp;Elmwood CLO VIII Ltd. (Cayman Islands), Ser 2021-1A, Class SUB, 144a, 8.922%, 1/20/34<sup>(E)</sup> | &nbsp;&nbsp; 162153 |
| &nbsp;&nbsp; 750000 &nbsp;&nbsp;Invesco CLO Ltd. (Cayman Islands), Ser 2021-3A, Class SUB, 144a, 10.829%, 10/22/34<sup>(E)</sup> | &nbsp;&nbsp; 219013 |
| &nbsp;&nbsp; 75000 &nbsp;&nbsp;Invesco CLO Ltd. (Cayman Islands), Ser 2021-3A, Class Y, 144a, 9.576%, 10/22/34<sup>(E)</sup> | &nbsp;&nbsp; 16937 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Invesco US CLO Ltd. (Jersey), Ser 2023-2A, Class ER, 144a, (TSFR3M + 7.880%), 11.750%, 4/21/38<sup>(D)</sup> | &nbsp;&nbsp; 258477 |
| &nbsp;&nbsp; 900000 &nbsp;&nbsp;KKR CLO 53 Ltd. (Cayman Islands), Ser 2024-53A, Class SUB, 144a, 17.299%, 1/15/38<sup>(E)</sup> | &nbsp;&nbsp; 648382 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;KKR CLO 59 Ltd. (Cayman Islands), Ser 2025-59A, Class E, 144a, (TSFR3M + 5.350%), 9.028%, 1/15/39<sup>(D)</sup> | &nbsp;&nbsp; 250070 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 4.2% (Continued)** |
| $250000 &nbsp;&nbsp;Lighthouse Park CLO Ltd. (), Ser 2025-1A, Class E, 144a, (TSFR3M + 4.650%), 8.571%, 10/24/37<sup>(D)</sup> | $249881 |
| &nbsp;&nbsp; 625000 &nbsp;&nbsp;Madison Park Funding LIII Ltd. (Cayman Islands), Ser 2022-53A, Class SUB, 144a, 16.429%, 4/21/35<sup>(E)</sup> | &nbsp;&nbsp; 224284 |
| &nbsp;&nbsp; 227540 &nbsp;&nbsp;Madison Park Funding LIX Ltd. (Cayman Islands), Ser 2021-59A, Class SUB, 144a, 14.573%, 4/18/37<sup>(E)</sup> | &nbsp;&nbsp; 103395 |
| &nbsp;&nbsp; 1000000 &nbsp;&nbsp;Madison Park Funding LIX Ltd. (Cayman Islands), Ser 2021-59X, Class SUB, 14.573%, 4/18/37<sup>(E)</sup> | &nbsp;&nbsp; 454405 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Madison Park Funding LXIII Ltd. (Cayman Islands), Ser 2023-63A, Class SUB, 144a, 7/21/38<sup>(E)</sup> | &nbsp;&nbsp; 152148 |
| &nbsp;&nbsp; 420000 &nbsp;&nbsp;Madison Park Funding LXXII Ltd. (Cayman Islands), Ser 2025-72A, Class SUB, 144a, 7/23/38<sup>(E)</sup> | &nbsp;&nbsp; 403445 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Madison Park Funding LXXV Ltd. (Cayman Islands), Ser 2025-75A, Class E, 144a, (TSFR3M + 5.100%), 8.762%, 1/17/39<sup>(D)</sup> | &nbsp;&nbsp; 250103 |
| &nbsp;&nbsp; 640000 &nbsp;&nbsp;Madison Park Funding LXXV Ltd. (Cayman Islands), Ser 2025-75A, Class SUB, 144a, 1/17/39<sup>(E)</sup> | &nbsp;&nbsp; 636980 |
| &nbsp;&nbsp; 300000 &nbsp;&nbsp;Madison Park Funding XII Ltd. (Cayman Islands), Ser 2014-12A, Class SUB, 144a, 7/20/26<sup>(E)</sup> | &nbsp;&nbsp; 2376 |
| &nbsp;&nbsp; 2383335 &nbsp;&nbsp;Madison Park Funding XVII Ltd. (Cayman Islands), Ser 2015-17A, Class SUB, 144a, 0.910%, 7/21/45<sup>(E)</sup> | &nbsp;&nbsp; 256966 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Madison Park Funding XVII Ltd. (Cayman Islands), Ser 2015-17X, Class SUB, 0.912%, 7/21/30<sup>(E)</sup> | &nbsp;&nbsp; 26955 |
| &nbsp;&nbsp; 2174329 &nbsp;&nbsp;Madison Park Funding XXII Ltd. (Cayman Islands), Ser 2016-22A, Class SUB, 144a, 8.972%, 1/15/33<sup>(E)</sup> | &nbsp;&nbsp; 869084 |
| &nbsp;&nbsp; 678700 &nbsp;&nbsp;Madison Park Funding XXX Ltd. (Cayman Islands), Ser 2018-30A, Class SUB, 144a, 4.304%, 7/16/27<sup>(E)</sup> | &nbsp;&nbsp; 276004 |
| &nbsp;&nbsp; 500000 &nbsp;&nbsp;Madison Park Funding XXXI Ltd. (Cayman Islands), Ser 2018-31A, Class SUB, 144a, 9.099%, 7/23/37<sup>(E)</sup> | &nbsp;&nbsp; 196733 |
| &nbsp;&nbsp; 688936 &nbsp;&nbsp;Madison Park Funding XXXVII Ltd. (Cayman Islands), Ser 2019-37A, Class SUB, 144a, 13.548%, 4/15/37<sup>(E)</sup> | &nbsp;&nbsp; 280870 |
| &nbsp;&nbsp; 686239 &nbsp;&nbsp;Madison Park Funding XXXVIII Ltd. (Cayman Islands), Ser 2021-38A, Class SUB, 144a, 10.750%, 10/17/38<sup>(E)</sup> | &nbsp;&nbsp; 348537 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite LI Ltd. (Cayman Islands), Ser 2025-51A, Class E, 144a, (TSFR3M + 4.600%), 8.492%, 10/25/38<sup>(D)</sup> | &nbsp;&nbsp; 249998 |
| &nbsp;&nbsp; 610000 &nbsp;&nbsp;Magnetite LI Ltd. (Cayman Islands), Ser 2025-51A, Class SUB, 144a, 10/25/38<sup>(E)</sup> | &nbsp;&nbsp; 556080 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite Xlii Ltd., Ser 2024-42A, Class SUB, 144a, 1/25/38<sup>(E)</sup> | &nbsp;&nbsp; 174754 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite XLIII Ltd. (Cayman Islands), Ser 2025-43A, Class E, 144a, (TSFR3M + 6.500%), 10.633%, 7/15/38<sup>(D)</sup> | &nbsp;&nbsp; 256319 |
| &nbsp;&nbsp; 530000 &nbsp;&nbsp;Magnetite XLVIII Ltd. (Cayman Islands), Ser 2025-48A, Class SUB, 144a, 10/15/38<sup>(E)</sup> | &nbsp;&nbsp; 470580 |
| &nbsp;&nbsp; 1000000 &nbsp;&nbsp;Magnetite XXIII Ltd. (Cayman Islands), Ser 2019-23A, Class ER, 144a, (TSFR3M + 6.562%), 10.420%, 1/25/35<sup>(D)</sup> | &nbsp;&nbsp; 1002706 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite XXVII Ltd. (Cayman Islands), Ser 2020-27A, Class ERR, 144a, (TSFR3M + 4.750%), 8.684%, 10/20/38<sup>(D)</sup> | &nbsp;&nbsp; 250954 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite XXVIII Ltd. (Cayman Islands), Ser 2020-28A, Class SUB, 144a, 3.416%, 1/20/35<sup>(E)</sup> | &nbsp;&nbsp; 177580 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Magnetite XXXVII Ltd. (Cayman Islands), Ser 2023-37A, Class ER, 144a, (TSFR3M + 4.700%), 8.597%, 10/25/38<sup>(D)</sup> | &nbsp;&nbsp; 250746 |
| &nbsp;&nbsp; 610000 &nbsp;&nbsp;OCP CLO Ltd. (Cayman Islands), Ser 2015-10A, Class SUB, 144a, 1/26/38<sup>(E)</sup> | &nbsp;&nbsp; 232312 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;OCP CLO Ltd. (Cayman Islands), Ser 2016-11A, Class ER3, 144a, (TSFR3M + 5.250%), 9.108%, 7/26/38<sup>(D)</sup> | &nbsp;&nbsp; 251093 |

---

---

| | |
|:---|:---|
| **Principal<br> Amount** | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 4.2% (Continued)** |
| $534000 &nbsp;&nbsp;OCP CLO Ltd. (Cayman Islands), Ser 2018-15A, Class SUB, 144a, 1.983%, 7/20/31<sup>(E)</sup> | $199993 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;OCP CLO Ltd. (Cayman Islands), Ser 2022-24A, Class SUB, 144a, 10/20/37<sup>(E)</sup> | &nbsp;&nbsp; 126959 |
| &nbsp;&nbsp; 450000 &nbsp;&nbsp;OCP CLO Ltd. (Cayman Islands), Ser 2025-48A, Class SUB, 144a, 12/15/38<sup>(E)</sup> | &nbsp;&nbsp; 389448 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Octagon 61 Ltd. (Cayman Islands), Ser 2023-2A, Class ER, 144a, (TSFR3M + 7.890%), 11.774%, 4/20/38<sup>(D)</sup> | &nbsp;&nbsp; 255335 |
| &nbsp;&nbsp; 1166666 &nbsp;&nbsp;Octagon 63 Ltd. (Cayman Islands), Ser 2024-2A, Class E, 144a, (TSFR3M + 6.500%), 10.384%, 7/20/37<sup>(D)</sup> | &nbsp;&nbsp; 1178433 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;OHA Credit Funding 16-R Ltd. (Cayman Islands), Ser 2023-16RA, Class E, 144a, (TSFR3M + 4.600%), 8.484%, 10/20/38<sup>(D)</sup> | &nbsp;&nbsp; 250457 |
| &nbsp;&nbsp; 730000 &nbsp;&nbsp;OHA Credit Partners XII Ltd. (Cayman Islands), Ser 2015-12A, Class SUB, 144a, 11.700%, 4/23/37<sup>(E)</sup> | &nbsp;&nbsp; 349220 |
| &nbsp;&nbsp; 389058 &nbsp;&nbsp;OHA Loan Funding Ltd. (Cayman Islands), Ser 2016-1A, Class SUB, 144a, 13.751%, 7/20/37<sup>(E)</sup> | &nbsp;&nbsp; 212481 |
| &nbsp;&nbsp; 2228382 &nbsp;&nbsp;Pixley Park CLO Ltd. (Cayman Islands), Ser 2024-1A, Class M, 144a, 0.310%, 1/15/37<sup>(E)</sup> | &nbsp;&nbsp; 91199 |
| &nbsp;&nbsp; 2228382 &nbsp;&nbsp;Pixley Park CLO Ltd. (Cayman Islands), Ser 2024-1A, Class SUB, 144a, 4.443%, 1/15/37<sup>(E)</sup> | &nbsp;&nbsp; 1434138 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;RR 18 Ltd. (Cayman Islands), Ser 2021-18A, Class DR, 144a, (TSFR3M + 4.900%), 8.805%, 7/15/40<sup>(D)</sup> | &nbsp;&nbsp; 250746 |
| &nbsp;&nbsp; 3999999 &nbsp;&nbsp;RR 26 Ltd. (Cayman Islands), Ser 2023-26A, Class SUB, 144a, 10.601%, 4/15/2123<sup>(E)</sup> | &nbsp;&nbsp; 2787327 |
| &nbsp;&nbsp; 490000 &nbsp;&nbsp;RR 29 Ltd. (Cayman Islands), Ser 2024-29RA, Class SUB, 144a, 2.804%, 7/15/39<sup>(E)</sup> | &nbsp;&nbsp; 278992 |
| &nbsp;&nbsp; 350000 &nbsp;&nbsp;RR 31 Ltd. (Cayman Islands), Ser 2024-31A, Class SUB, 144a, 3.230%, 10/15/39<sup>(E)</sup> | &nbsp;&nbsp; 274475 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;RR 42 Ltd. (Cayman Islands), Ser 2025-42A, Class DR, 144a, (TSFR3M + 5.100%), 9.024%, 10/15/40<sup>(D)</sup> | &nbsp;&nbsp; 250226 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Sixth Street CLO 29 Ltd. (Cayman Islands), Ser 2025-29A, Class SUB, 144a, 7/17/38<sup>(E)</sup> | &nbsp;&nbsp; 215648 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Sixth Street CLO 31 Ltd. (Cayman Islands), Ser 2025-31A, Class E, 144a, (TSFR3M + 4.700%), 8.374%, 1/17/39<sup>(D)</sup> | &nbsp;&nbsp; 250096 |
| &nbsp;&nbsp; 590000 &nbsp;&nbsp;Sixth Street CLO 31 Ltd. (Cayman Islands), Ser 2025-31A, Class SUB, 144a, 1/17/2126<sup>(E)</sup> | &nbsp;&nbsp; 492561 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Sixth Street CLO XVI Ltd. (Cayman Islands), Ser 2020-16A, Class SUB, 144a, 10/20/32<sup>(E)</sup> | &nbsp;&nbsp; 142913 |
| &nbsp;&nbsp; 920000 &nbsp;&nbsp;Storm King Park CLO Ltd. (Jersey), Ser 2022-1A, Class M, 144a, 10/15/37<sup>(E)</sup> | &nbsp;&nbsp; 17968 |
| &nbsp;&nbsp; 920000 &nbsp;&nbsp;Storm King Park CLO Ltd. (Jersey), Ser 2022-1A, Class SUB, 144a, 12.952%, 10/15/37<sup>(E)</sup> | &nbsp;&nbsp; 580728 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Trimaran CAVU Ltd. (Cayman Islands), Ser 2025-2A, Class E, 144a, (TSFR3M + 5.750%), 10.004%, 3/18/38<sup>(D)</sup> | &nbsp;&nbsp; 251859 |
| &nbsp;&nbsp; 261000 &nbsp;&nbsp;Voya CLO Ltd., Ser 2022-3A, Class ER2, 144a, (TSFR3M + 4.750%), 8.634%, 10/20/36<sup>(D)</sup> | &nbsp;&nbsp; 260202 |
| &nbsp;&nbsp; 250000 &nbsp;&nbsp;Voya CLO Ltd. (Cayman Islands), Ser 2024-2A, Class E, 144a, (TSFR3M + 6.050%), 9.934%, 7/20/37<sup>(D)</sup> | &nbsp;&nbsp; 251817 |
| &nbsp;&nbsp; 140479 &nbsp;&nbsp;Voya CLO Ltd. (Cayman Islands), Ser 2025-2A, Class E, 144a, (TSFR3M + 6.250%), 10.155%, 7/15/38<sup>(D)</sup> | &nbsp;&nbsp; 142675 |
| &nbsp;&nbsp; 481000 &nbsp;&nbsp;Voya CLO Ltd. (Cayman Islands), Ser 2025-2A, Class SUB, 144a, 3.250%, 7/15/38<sup>(E)</sup> | &nbsp;&nbsp; 408330 |
|  | &nbsp;&nbsp; $38161630 |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Common Stocks — 1.8%** |  |
|  | &nbsp;&nbsp;**Utilities — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;480457 | &nbsp;&nbsp;Enviva, Inc./Private Equity\* | $7110763 |
|  | &nbsp;&nbsp;**Financials — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;AIMCO CLO 30, Ltd. / CLO Warehouse<sup>(F)</sup>\* | &nbsp;&nbsp; 43125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;Magnetite LV, Ltd./ CLO Warehouse<sup>(F)</sup>\* | &nbsp;&nbsp; 78333 |
| &nbsp;&nbsp;&nbsp;&nbsp;649012 | &nbsp;&nbsp;Yeoman Capital NPV\* | &nbsp;&nbsp; 5402341 |
|  |  | &nbsp;&nbsp; 5523799 |
|  | &nbsp;&nbsp;**Information Technology — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;170760 | &nbsp;&nbsp;Avaya Holdings Corp.\* | &nbsp;&nbsp; 2419157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17015 | &nbsp;&nbsp;Avaya Holdings Corp., 1145 shares\* | &nbsp;&nbsp; 241051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3915 | &nbsp;&nbsp;Avaya Holdings Corp., 144A shares\* | &nbsp;&nbsp; 55464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011 | &nbsp;&nbsp;Avaya Holdings Corp., A shares\* | &nbsp;&nbsp; 28490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4968 | &nbsp;&nbsp;Avaya Holdings Corp., Reg S shares\* | &nbsp;&nbsp; 70382 |
|  |  | &nbsp;&nbsp; 2814544 |
|  | &nbsp;&nbsp;**Health Care — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7366 | &nbsp;&nbsp;CHPPR Holdings, Inc.\* | &nbsp;&nbsp; 957580 |
|  | &nbsp;&nbsp;**Energy — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14309 | &nbsp;&nbsp;AFG Holdings, Inc.<sup>(F)</sup>\* | &nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;187384 | &nbsp;&nbsp;Tribune Resources, Inc.<sup>(F)</sup>\* | &nbsp;&nbsp; 46846 |
|  |  | &nbsp;&nbsp; 46989 |
|  | &nbsp;&nbsp;**Industrials — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;165897 | &nbsp;&nbsp;Spirit Aviation Holdings, Inc.\* | &nbsp;&nbsp; 41640 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp; $16495315 |
|  | &nbsp;&nbsp;**Investment Funds — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;188884 | &nbsp;&nbsp;Eagle Point Credit Co., Inc.<sup>±</sup> | &nbsp;&nbsp; 1087972 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;Oxford Lane Capital Corp.<sup>±</sup> | &nbsp;&nbsp; 2196000 |
|  | &nbsp;&nbsp;**Total Investment Funds** | &nbsp;&nbsp;&nbsp; $3283972 |
|  | &nbsp;&nbsp;**Warrants — 0.3%** |  |
|  | &nbsp;&nbsp;**Health Care — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11678 | &nbsp;&nbsp;CHPPR Holdings, Inc. 4(A)(2)DOT Warrant\* | &nbsp;&nbsp; 1518140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6582 | &nbsp;&nbsp;CHPPR Holdings, Inc. 1145 DOT Warrant\* | &nbsp;&nbsp; 855660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9949 | &nbsp;&nbsp;CHPPR Holdings, Inc., Class B, Exp 6/28/29\* | &nbsp;&nbsp; 79592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4713 | &nbsp;&nbsp;CHPPR Holdings, Inc., Class A, Exp 6/28/29\* | &nbsp;&nbsp; 18852 |
|  |  | &nbsp;&nbsp; 2472244 |
|  | &nbsp;&nbsp;**Industrials — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19989 | &nbsp;&nbsp;Spirit Airlines LLC\* | &nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;**Total Warrants** | &nbsp;&nbsp;&nbsp; $2473343 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 5.6%** |  |
| 38839100 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 38839100 |
| 12204312 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 12204312 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp; $51043412 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.9%<br> (Cost $924,859,902)** | $921243277 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.9%)** | &nbsp;&nbsp;&nbsp; (8520084) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $912723193 |

---

*(A)* *Represents a payment-in-kind ("PIK") security, which may pay interest in additional principal amounts.* 

*(B)* *Bank loans pay interest at rates which adjust periodically unless otherwise indicated. The interest rates shown are the current interest rates as of December 31, 2025.* 

*(C)* *All or a portion of this position has not settled. Full contract rates do not take effect until settlement date.* 

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

---

| | |
|:---|:---|
| *(E)* | *CLO equity positions are entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying securities less contractual payments to debt holders and fund expenses. Rate shown is the current yield as of December 31, 2025 and is based on income received over the trailing twelve months. The estimated yield may ultimately not be realized. If a position has no income over the trailing twelvemonths, a yield cannot be estimated.* |
| *(F)* | *Level 3- For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.* |
| *±* | *Closed-end Fund.* |
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $11,722,185.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *CLO – Collateralized Loan Obligation* |
| *DAC – Designated Activity Company* |
| *EUR – Euro* |
| *EURIBOR – Euro Interbank Offered Rate* |
| *GBP – Great Britain Pound* |
| *ICE – Intercontinental Exchange, Inc.* |
| *LLC – Limited Liability Company* |
| *LLLP – Limited Liability Limited Partnership* |
| *LP – Limited Partnership* |
| *PIK – Payment In Kind* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *SOFR – Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *USD – United States Dollar* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $684,152,950 or 75.0% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

------

Touchstone Ares Credit Opportunities Fund (Unaudited) (Continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| ***Assets:*** |  |  |  |  |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$730173717* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$730173717* |
| *Bank Loans* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*79611888* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*79611888* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*38161630* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*38161630* |
| *Common Stocks* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*41640* | &nbsp;&nbsp;&nbsp;&nbsp;*16285228* | &nbsp;&nbsp;&nbsp;*168447* | &nbsp;&nbsp;&nbsp;&nbsp;*16495315* |
| *Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;*3283972* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3283972* |
| *Warrants* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2473343* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2473343* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;*51043412* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*51043412* |
| ***Other Financial Instruments*** |  |  |  |  |
| *Swap Agreements* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Credit contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*174294* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*174294* |
| *Total Assets* | *$54369024* | *$866880100* | *$168447* | *$921417571* |
| ***Liabilities:*** |  |  |  |  |
| ***Other Financial Instruments*** |  |  |  |  |
| *Swap Agreements* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Credit contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(21892)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(21892)* |
| *Foreign currency exchange contracts* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(31002)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(31002)* |
| *Total Liabilities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(52894)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$(52894)* |
| *Total* | *$54369024* | *$866827206* | *$168447* | *$921364677* |

---

#### Centrally Cleared Credit Default Swaps on Credit Indices<sup>(1)</sup>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Termination<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount<sup>(2)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Pay Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;&nbsp;&nbsp;**Underlying<br> Bond** | &nbsp;&nbsp;&nbsp;&nbsp;**Value<sup>(3)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Premiums<br> Paid/<br> (Received)** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation/<br> Depreciation** |
| **Buy Protection:** |  |  |  |  |  |  |  |  |
| Wells Fargo | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;$569250 | &nbsp;&nbsp;&nbsp;&nbsp;5.000% | &nbsp;&nbsp;&nbsp;&nbsp;Quarterly &nbsp;&nbsp;&nbsp;&nbsp;ICE | &nbsp;&nbsp;&nbsp;&nbsp;Markit CDX North America High<br> Yield Series 41 5Y Index | &nbsp;&nbsp;&nbsp;&nbsp;$(42238) | &nbsp;&nbsp;&nbsp;&nbsp;$(20346) | &nbsp;&nbsp;&nbsp;&nbsp;$(21892) |
| **Sell Protection:** |  |  |  |  |  |  |  |  |
| Wells Fargo | 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;$2000000 | &nbsp;&nbsp;&nbsp;&nbsp;5.000% | &nbsp;&nbsp;&nbsp;&nbsp;Quarterly &nbsp;&nbsp;&nbsp;&nbsp;ICE | &nbsp;&nbsp;&nbsp;&nbsp;Community Development Society<br> USD Series D14 3Y Index | &nbsp;&nbsp;&nbsp;&nbsp;$(23215) | &nbsp;&nbsp;&nbsp;&nbsp;$(197509) | &nbsp;&nbsp;&nbsp;&nbsp;$174294 |

---

*(1)* *If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.* 

*(2)* *The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.* 

*(3)* *The quoted market prices and resulting values for credit default swap agreements on the underlying bond serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.* 

#### Forward Foreign Currency Contracts

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Contract to** | &nbsp;&nbsp;&nbsp;&nbsp;**Contract to** | &nbsp;&nbsp;&nbsp;&nbsp;**Contract to** | &nbsp;&nbsp;&nbsp;&nbsp;**Contract to** |  |
| **Counterparty** | **Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Receive** | &nbsp;&nbsp;&nbsp;&nbsp;**Receive** | &nbsp;&nbsp;&nbsp;&nbsp;**Deliver** | &nbsp;&nbsp;&nbsp;&nbsp;**Deliver** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Depreciation** |
| Wells Fargo | 3/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;20484069 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;17378565 | &nbsp;&nbsp;&nbsp;&nbsp;$(11824) |
| Wells Fargo | 3/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022815 | &nbsp;&nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19178) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(31002) |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Dividend Equity Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8%** |  |
|  | &nbsp;&nbsp;**Information Technology — 21.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;67702 | &nbsp;&nbsp;Accenture PLC - Class A | $18164447 |
| &nbsp;&nbsp;&nbsp;&nbsp;105385 | &nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp; 28580412 |
| &nbsp;&nbsp;&nbsp;&nbsp;185871 | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp; 50530890 |
| &nbsp;&nbsp;&nbsp;&nbsp;184076 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 63708704 |
| &nbsp;&nbsp;&nbsp;&nbsp;472516 | &nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp; 36397908 |
| &nbsp;&nbsp;&nbsp;&nbsp;114804 | &nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp; 34006093 |
| &nbsp;&nbsp;&nbsp;&nbsp;22351 | &nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp; 27158253 |
| &nbsp;&nbsp;&nbsp;&nbsp;245279 | &nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp; 15629178 |
| &nbsp;&nbsp;&nbsp;&nbsp;71365 | &nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp; 20368285 |
| &nbsp;&nbsp;&nbsp;&nbsp;199215 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 96344358 |
| &nbsp;&nbsp;&nbsp;&nbsp;141832 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 27644475 |
| &nbsp;&nbsp;&nbsp;&nbsp;106625 | &nbsp;&nbsp;Qnity Electronics, Inc. | &nbsp;&nbsp; 8705890 |
| &nbsp;&nbsp;&nbsp;&nbsp;173669 | &nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp; 29706082 |
| &nbsp;&nbsp;&nbsp;&nbsp;100419 | &nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 26601997 |
| &nbsp;&nbsp;&nbsp;&nbsp;183352 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp; 31809738 |
|  |  | &nbsp;&nbsp; 515356710 |
|  | &nbsp;&nbsp;**Financials — 16.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;82246 | &nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp; 21284442 |
| &nbsp;&nbsp;&nbsp;&nbsp;748371 | &nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 41160405 |
| &nbsp;&nbsp;&nbsp;&nbsp;28830 | &nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp; 30857902 |
| &nbsp;&nbsp;&nbsp;&nbsp;306653 | &nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp; 30637701 |
| &nbsp;&nbsp;&nbsp;&nbsp;260085 | &nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp; 30349319 |
| &nbsp;&nbsp;&nbsp;&nbsp;31935 | &nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp; 28070865 |
| &nbsp;&nbsp;&nbsp;&nbsp;91923 | &nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp; 29619429 |
| &nbsp;&nbsp;&nbsp;&nbsp;138873 | &nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp; 24654124 |
| &nbsp;&nbsp;&nbsp;&nbsp;180808 | &nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp; 15949074 |
| &nbsp;&nbsp;&nbsp;&nbsp;159293 | &nbsp;&nbsp;T Rowe Price Group, Inc. | &nbsp;&nbsp; 16308417 |
| &nbsp;&nbsp;&nbsp;&nbsp;531357 | &nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp; 26148078 |
| &nbsp;&nbsp;&nbsp;&nbsp;551816 | &nbsp;&nbsp;US Bancorp | &nbsp;&nbsp; 29444902 |
| &nbsp;&nbsp;&nbsp;&nbsp;96989 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 34015012 |
| &nbsp;&nbsp;&nbsp;&nbsp;423457 | &nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 39466193 |
|  |  | &nbsp;&nbsp; 397965863 |
|  | &nbsp;&nbsp;**Health Care — 12.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;89418 | &nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp; 20431119 |
| &nbsp;&nbsp;&nbsp;&nbsp;40227 | &nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp; 13166699 |
| &nbsp;&nbsp;&nbsp;&nbsp;130742 | &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 25373100 |
| &nbsp;&nbsp;&nbsp;&nbsp;450120 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp; 24279473 |
| &nbsp;&nbsp;&nbsp;&nbsp;320466 | &nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp; 25432182 |
| &nbsp;&nbsp;&nbsp;&nbsp;19353 | &nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp; 20798282 |
| &nbsp;&nbsp;&nbsp;&nbsp;265117 | &nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 54865963 |
| &nbsp;&nbsp;&nbsp;&nbsp;390917 | &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp; 37551487 |
| &nbsp;&nbsp;&nbsp;&nbsp;285877 | &nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp; 30091413 |
| &nbsp;&nbsp;&nbsp;&nbsp;900866 | &nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp; 22431564 |
| &nbsp;&nbsp;&nbsp;&nbsp;69658 | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 22994802 |
|  |  | &nbsp;&nbsp; 297416084 |
|  | &nbsp;&nbsp;**Industrials — 10.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;160520 | &nbsp;&nbsp;3M Co. | &nbsp;&nbsp; 25699252 |
| &nbsp;&nbsp;&nbsp;&nbsp;71594 | &nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp; 18416125 |
| &nbsp;&nbsp;&nbsp;&nbsp;51800 | &nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp; 29674666 |
| &nbsp;&nbsp;&nbsp;&nbsp;48697 | &nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 22671862 |
| &nbsp;&nbsp;&nbsp;&nbsp;51448 | &nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp; 24883854 |
| &nbsp;&nbsp;&nbsp;&nbsp;149728 | &nbsp;&nbsp;Paychex, Inc. | &nbsp;&nbsp; 16796487 |
| &nbsp;&nbsp;&nbsp;&nbsp;160280 | &nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp; 29395352 |
| &nbsp;&nbsp;&nbsp;&nbsp;563860 | &nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp; 23304334 |
| &nbsp;&nbsp;&nbsp;&nbsp;363808 | &nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp; 27023658 |
| &nbsp;&nbsp;&nbsp;&nbsp;95500 | &nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 22091060 |
|  |  | &nbsp;&nbsp; 239956650 |
|  | &nbsp;&nbsp;**Communication Services — 8.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;143350 | &nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp; 44983230 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Communication Services — 8.9% (Continued)** |  |
| 1047865 | &nbsp;&nbsp;AT&T, Inc. | $26028967 |
| &nbsp;&nbsp;&nbsp;&nbsp;788916 | &nbsp;&nbsp;Comcast Corp. - Class A | &nbsp;&nbsp; 23580699 |
| &nbsp;&nbsp;&nbsp;&nbsp;200199 | &nbsp;&nbsp;Fox Corp. - Class A | &nbsp;&nbsp; 14628541 |
| &nbsp;&nbsp;&nbsp;&nbsp;48085 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 31740428 |
| &nbsp;&nbsp;&nbsp;&nbsp;193492 | &nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp; 15624479 |
| &nbsp;&nbsp;&nbsp;&nbsp;659576 | &nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp; 26864530 |
| &nbsp;&nbsp;&nbsp;&nbsp;243973 | &nbsp;&nbsp;Walt Disney Co. (The) | &nbsp;&nbsp; 27756808 |
|  |  | &nbsp;&nbsp; 211207682 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 7.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 | &nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp; 18898960 |
| &nbsp;&nbsp;&nbsp;&nbsp;103598 | &nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp; 35648072 |
| &nbsp;&nbsp;&nbsp;&nbsp;358188 | &nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp; 23314457 |
| &nbsp;&nbsp;&nbsp;&nbsp;90021 | &nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp; 27513118 |
| &nbsp;&nbsp;&nbsp;&nbsp;219319 | &nbsp;&nbsp;NIKE, Inc. - Class B | &nbsp;&nbsp; 13972813 |
| &nbsp;&nbsp;&nbsp;&nbsp;267703 | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp; 22543270 |
| &nbsp;&nbsp;&nbsp;&nbsp;148722 | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp; 22498664 |
|  |  | &nbsp;&nbsp; 164389354 |
|  | &nbsp;&nbsp;**Consumer Staples — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;112634 | &nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp; 15538987 |
| &nbsp;&nbsp;&nbsp;&nbsp;146835 | &nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp; 19495283 |
| &nbsp;&nbsp;&nbsp;&nbsp;177371 | &nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp; 25456286 |
| &nbsp;&nbsp;&nbsp;&nbsp;206055 | &nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp; 33051222 |
| &nbsp;&nbsp;&nbsp;&nbsp;223273 | &nbsp;&nbsp;Procter & Gamble Co. (The) | &nbsp;&nbsp; 31997253 |
| &nbsp;&nbsp;&nbsp;&nbsp;308829 | &nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp; 22757609 |
| &nbsp;&nbsp;&nbsp;&nbsp;161101 | &nbsp;&nbsp;Target Corp. | &nbsp;&nbsp; 15747623 |
|  |  | &nbsp;&nbsp; 164044263 |
|  | &nbsp;&nbsp;**Energy — 5.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;208123 | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp; 31720026 |
| &nbsp;&nbsp;&nbsp;&nbsp;324364 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 39033964 |
| &nbsp;&nbsp;&nbsp;&nbsp;883172 | &nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp; 24278398 |
| &nbsp;&nbsp;&nbsp;&nbsp;111240 | &nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp; 14354410 |
| &nbsp;&nbsp;&nbsp;&nbsp;85995 | &nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp; 13999126 |
|  |  | &nbsp;&nbsp; 123385924 |
|  | &nbsp;&nbsp;**Utilities — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;205584 | &nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp; 24096501 |
| &nbsp;&nbsp;&nbsp;&nbsp;252809 | &nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 23367136 |
| &nbsp;&nbsp;&nbsp;&nbsp;331163 | &nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp; 26585765 |
| &nbsp;&nbsp;&nbsp;&nbsp;274300 | &nbsp;&nbsp;Southern Co. (The) | &nbsp;&nbsp; 23918960 |
|  |  | &nbsp;&nbsp; 97968362 |
|  | &nbsp;&nbsp;**Materials — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;64120 | &nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp; 15838923 |
| &nbsp;&nbsp;&nbsp;&nbsp;279162 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 18812727 |
| &nbsp;&nbsp;&nbsp;&nbsp;50198 | &nbsp;&nbsp;Linde PLC | &nbsp;&nbsp; 21403925 |
| &nbsp;&nbsp;&nbsp;&nbsp;69413 | &nbsp;&nbsp;Sherwin-Williams Co. (The) | &nbsp;&nbsp; 22491894 |
|  |  | &nbsp;&nbsp; 78547469 |
|  | &nbsp;&nbsp;**Real Estate — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;236685 | &nbsp;&nbsp;Alexandria Real Estate Equities, Inc. REIT | &nbsp;&nbsp; 11583364 |
| &nbsp;&nbsp;&nbsp;&nbsp;154044 | &nbsp;&nbsp;American Tower Corp. REIT | &nbsp;&nbsp; 27045505 |
| &nbsp;&nbsp;&nbsp;&nbsp;65287 | &nbsp;&nbsp;AvalonBay Communities, Inc. REIT | &nbsp;&nbsp; 11837186 |
| &nbsp;&nbsp;&nbsp;&nbsp;82108 | &nbsp;&nbsp;Simon Property Group, Inc. REIT | &nbsp;&nbsp; 15199012 |
|  |  | &nbsp;&nbsp; 65665067 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $2355903428 |

---

------

Touchstone Dividend Equity Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.2%** |  |
| 4233568 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | $4233568 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.0%<br> (Cost $1,894,416,351)** | $2360136996 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.0%** | &nbsp;&nbsp; 169288 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $2360306284 |

---

*∞* *Open-End Fund.* 

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

---

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

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$2355903428* | *$—* | *$—* | *$2355903428* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4233568* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4233568* |
| *Total* | *$2360136996* | *$—* | *$—* | *$2360136996* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone High Yield Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 96.9%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 16.5%** |  |
| $803000 | &nbsp;&nbsp;ADT Security Corp. (The), 144a, 5.875%, 10/15/33 | $812952 |
| &nbsp;&nbsp;1087000 | &nbsp;&nbsp;BlueLinx Holdings, Inc., 144a, 6.000%, 11/15/29 | &nbsp;&nbsp; 1065076 |
| &nbsp;&nbsp;1557000 | &nbsp;&nbsp;Carnival Corp., 144a, 5.875%, 6/15/31 | &nbsp;&nbsp; 1608230 |
| &nbsp;&nbsp;1239000 | &nbsp;&nbsp;Carriage Services, Inc., 144a, 4.250%, 5/15/29 | &nbsp;&nbsp; 1192251 |
| &nbsp;&nbsp; 521000 | &nbsp;&nbsp;Champ Acquisition Corp., 144a, 8.375%, 12/1/31 | &nbsp;&nbsp; 562817 |
| &nbsp;&nbsp;1013000 | &nbsp;&nbsp;Cimpress PLC (Ireland), 144a, 7.375%, 9/15/32 | &nbsp;&nbsp; 1033264 |
| &nbsp;&nbsp;1357000 | &nbsp;&nbsp;Goodyear Tire & Rubber Co. (The), 5.625%, 4/30/33 | &nbsp;&nbsp; 1285348 |
| &nbsp;&nbsp;1042000 | &nbsp;&nbsp;JB Poindexter & Co., Inc., 144a, 8.750%, 12/15/31 | &nbsp;&nbsp; 1091470 |
| &nbsp;&nbsp; 365000 | &nbsp;&nbsp;LGI Homes, Inc., 144a, 7.000%, 11/15/32 | &nbsp;&nbsp; 348893 |
| &nbsp;&nbsp; 691000 | &nbsp;&nbsp;LGI Homes, Inc., 144a, 8.750%, 12/15/28 | &nbsp;&nbsp; 720906 |
| &nbsp;&nbsp; 387000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 5.250%, 5/1/28 | &nbsp;&nbsp; 372045 |
| &nbsp;&nbsp;1350000 | &nbsp;&nbsp;Michaels Cos., Inc. (The), 144a, 7.875%, 5/1/29 | &nbsp;&nbsp; 1246310 |
| &nbsp;&nbsp; 988000 | &nbsp;&nbsp;QXO Building Products, Inc., 144a, 6.750%, 4/30/32 | &nbsp;&nbsp; 1031886 |
| &nbsp;&nbsp;1151000 | &nbsp;&nbsp;Speedway Motorsports LLC / Speedway Funding II, Inc., 144a, 4.875%, 11/1/27 | &nbsp;&nbsp; 1145756 |
| &nbsp;&nbsp; 612000 | &nbsp;&nbsp;Station Casinos LLC, 144a, 4.625%, 12/1/31 | &nbsp;&nbsp; 580178 |
| &nbsp;&nbsp; 656000 | &nbsp;&nbsp;Upbound Group, Inc., 144a, 6.375%, 2/15/29 | &nbsp;&nbsp; 647751 |
| &nbsp;&nbsp;1212000 | &nbsp;&nbsp;Voyager Parent LLC, 144a, 9.250%, 7/1/32 | &nbsp;&nbsp; 1285978 |
| &nbsp;&nbsp; 301000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 4.279%, 3/15/32<sup>†</sup> | &nbsp;&nbsp; 264224 |
| &nbsp;&nbsp; 751000 | &nbsp;&nbsp;Warnermedia Holdings, Inc., 5.050%, 3/15/42 | &nbsp;&nbsp; 530206 |
| &nbsp;&nbsp;1088000 | &nbsp;&nbsp;Wynn Macau Ltd. (Macao), 144a, 5.125%, 12/15/29 | &nbsp;&nbsp; 1077053 |
|  |  | &nbsp;&nbsp; 17902594 |
|  | &nbsp;&nbsp;**Energy — 13.9%** |  |
| &nbsp;&nbsp;1026000 | &nbsp;&nbsp;Blue Racer Midstream LLC / Blue Racer Finance Corp., 144a, 6.625%, 7/15/26 | &nbsp;&nbsp; 1026701 |
| &nbsp;&nbsp; 477000 | &nbsp;&nbsp;Civitas Resources, Inc., 144a, 8.375%, 7/1/28 | &nbsp;&nbsp; 491474 |
| &nbsp;&nbsp; 79000 | &nbsp;&nbsp;Civitas Resources, Inc., 144a, 8.625%, 11/1/30 | &nbsp;&nbsp; 82798 |
| &nbsp;&nbsp;1692000 | &nbsp;&nbsp;CQP Holdco LP / BIP-V Chinook Holdco LLC, 144a, 5.500%, 6/15/31 | &nbsp;&nbsp; 1673927 |
| &nbsp;&nbsp;1030000 | &nbsp;&nbsp;Enbridge, Inc. (Canada), Ser NC5, 8.250%, 1/15/84 | &nbsp;&nbsp; 1102132 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;Energy Transfer LP, (TSFR3M + 3.279%), 7.133%, 11/1/66<sup>(A)</sup> | &nbsp;&nbsp; 1501249 |
| &nbsp;&nbsp; 242000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 7.875%, 5/15/32 | &nbsp;&nbsp; 252239 |
| &nbsp;&nbsp; 445000 | &nbsp;&nbsp;Genesis Energy LP / Genesis Energy Finance Corp., 8.875%, 4/15/30 | &nbsp;&nbsp; 467711 |
| &nbsp;&nbsp; 414000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 5.750%, 2/1/29 | &nbsp;&nbsp; 409405 |
| &nbsp;&nbsp; 201000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.000%, 4/15/30 | &nbsp;&nbsp; 195305 |
| &nbsp;&nbsp; 243000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 6.875%, 5/15/34 | &nbsp;&nbsp; 227656 |
| &nbsp;&nbsp; 401000 | &nbsp;&nbsp;Hilcorp Energy I LP / Hilcorp Finance Co., 144a, 8.375%, 11/1/33 | &nbsp;&nbsp; 409498 |
| &nbsp;&nbsp;1027000 | &nbsp;&nbsp;Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp., 144a, 6.875%, 12/1/32 | &nbsp;&nbsp; 1055859 |
| &nbsp;&nbsp; 357000 | &nbsp;&nbsp;Prairie Acquiror LP, 144a, 9.000%, 8/1/29 | &nbsp;&nbsp; 371042 |
| &nbsp;&nbsp;1031000 | &nbsp;&nbsp;Precision Drilling Corp. (Canada), 144a, 6.875%, 1/15/29 | &nbsp;&nbsp; 1042568 |
| &nbsp;&nbsp; 524000 | &nbsp;&nbsp;SM Energy Co., 144a, 7.000%, 8/1/32 | &nbsp;&nbsp; 515128 |
| &nbsp;&nbsp; 617000 | &nbsp;&nbsp;Sunoco LP, 144a, 4.500%, 10/1/29 | &nbsp;&nbsp; 601194 |
| &nbsp;&nbsp; 536000 | &nbsp;&nbsp;Sunoco LP, 144a, 5.875%, 3/15/34 | &nbsp;&nbsp; 535951 |
| &nbsp;&nbsp; 500000 | &nbsp;&nbsp;Tidewater, Inc., 144a, 9.125%, 7/15/30 | &nbsp;&nbsp; 536643 |
| &nbsp;&nbsp; 993000 | &nbsp;&nbsp;Valaris Ltd., 144a, 8.375%, 4/30/30 | &nbsp;&nbsp; 1033090 |
| &nbsp;&nbsp;1074000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 8.125%, 6/1/28 | &nbsp;&nbsp; 1087858 |
| &nbsp;&nbsp; 526000 | &nbsp;&nbsp;Venture Global LNG, Inc., 144a, 9.000%<sup>(B)</sup> | &nbsp;&nbsp; 415398 |
|  |  | &nbsp;&nbsp; 15034826 |
|  | &nbsp;&nbsp;**Communication Services — 13.6%** |  |
| &nbsp;&nbsp; 108000 | &nbsp;&nbsp;Altice France Lux 3 / Altice Holdings 1 (Luxembourg), 144a, 10.000%, 1/15/33 | &nbsp;&nbsp; 99001 |
| &nbsp;&nbsp; 395831 | &nbsp;&nbsp;Altice France SA (France), 144a, 6.500%, 4/15/32<sup>†</sup> | &nbsp;&nbsp; 379476 |
| &nbsp;&nbsp; 343465 | &nbsp;&nbsp;Altice France SA (France), 144a, 6.875%, 7/15/32 | &nbsp;&nbsp; 329362 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 96.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Communication Services — 13.6% (Continued)** |  |
| $669000 | &nbsp;&nbsp;AMC Networks, Inc., 144a, 10.250%, 1/15/29 | $701597 |
| &nbsp;&nbsp; 584000 | &nbsp;&nbsp;Block Communications, Inc., 144a, 4.875%, 3/1/28<sup>†</sup> | &nbsp;&nbsp; 545571 |
| &nbsp;&nbsp;1010000 | &nbsp;&nbsp;Cable One, Inc., 1.125%, 3/15/28 | &nbsp;&nbsp; 821938 |
| &nbsp;&nbsp;1605000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 4.250%, 2/1/31 | &nbsp;&nbsp; 1475164 |
| &nbsp;&nbsp; 484000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 6.375%, 9/1/29 | &nbsp;&nbsp; 490653 |
| &nbsp;&nbsp; 315000 | &nbsp;&nbsp;CCO Holdings LLC / CCO Holdings Capital Corp., 144a, 7.375%, 3/1/31 | &nbsp;&nbsp; 321454 |
| &nbsp;&nbsp; 360000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 3.375%, 2/15/31<sup>†</sup> | &nbsp;&nbsp; 217899 |
| &nbsp;&nbsp; 256000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 11.250%, 5/15/28 | &nbsp;&nbsp; 203552 |
| &nbsp;&nbsp;1268000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 4.625%, 12/1/30 | &nbsp;&nbsp; 452918 |
| &nbsp;&nbsp;1073000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 5.750%, 1/15/30 | &nbsp;&nbsp; 396651 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;CSC Holdings LLC, 144a, 11.750%, 1/31/29 | &nbsp;&nbsp; 148640 |
| &nbsp;&nbsp; 518000 | &nbsp;&nbsp;Directv Financing LLC, 144a, 8.875%, 2/1/30 | &nbsp;&nbsp; 524962 |
| &nbsp;&nbsp; 75000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 5.875%, 8/15/27 | &nbsp;&nbsp; 75441 |
| &nbsp;&nbsp; 428000 | &nbsp;&nbsp;Directv Financing LLC / Directv Financing Co-Obligor, Inc., 144a, 10.000%, 2/15/31 | &nbsp;&nbsp; 437438 |
| &nbsp;&nbsp; 906000 | &nbsp;&nbsp;Gray Media, Inc., 144a, 5.375%, 11/15/31<sup>†</sup> | &nbsp;&nbsp; 679383 |
| &nbsp;&nbsp; 570000 | &nbsp;&nbsp;LCPR Senior Secured Financing DAC, 144a, 6.750%, 10/15/27 | &nbsp;&nbsp; 398402 |
| &nbsp;&nbsp; 302298 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 6.875%, 6/30/33 | &nbsp;&nbsp; 309229 |
| &nbsp;&nbsp; 261849 | &nbsp;&nbsp;Level 3 Financing, Inc., 144a, 7.000%, 3/31/34 | &nbsp;&nbsp; 269854 |
| &nbsp;&nbsp; 517000 | &nbsp;&nbsp;Midcontinent Communications, 144a, 8.000%, 8/15/32 | &nbsp;&nbsp; 529417 |
| &nbsp;&nbsp; 230000 | &nbsp;&nbsp;Sinclair Television Group, Inc., 144a, 8.125%, 2/15/33 | &nbsp;&nbsp; 240219 |
| &nbsp;&nbsp; 923000 | &nbsp;&nbsp;Stagwell Global LLC, 144a, 5.625%, 8/15/29 | &nbsp;&nbsp; 900181 |
| &nbsp;&nbsp; 258000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.000%, 8/15/28 | &nbsp;&nbsp; 267191 |
| &nbsp;&nbsp; 770000 | &nbsp;&nbsp;Univision Communications, Inc., 144a, 8.500%, 7/31/31 | &nbsp;&nbsp; 804214 |
| &nbsp;&nbsp; 512000 | &nbsp;&nbsp;Versant Media Group, Inc., 144a, 7.250%, 1/30/31<sup>†</sup> | &nbsp;&nbsp; 528225 |
| &nbsp;&nbsp;1060000 | &nbsp;&nbsp;Zegona Finance PLC (United Kingdom), 144a, 8.625%, 7/15/29 | &nbsp;&nbsp; 1124323 |
| &nbsp;&nbsp;1116000 | &nbsp;&nbsp;Ziff Davis, Inc., 144a, 4.625%, 10/15/30 | &nbsp;&nbsp; 1059933 |
|  |  | &nbsp;&nbsp; 14732288 |
|  | &nbsp;&nbsp;**Financials — 13.0%** |  |
| &nbsp;&nbsp;1260000 | &nbsp;&nbsp;Air Lease Corp., Ser B, 4.650%<sup>(B)</sup> | &nbsp;&nbsp; 1242907 |
| &nbsp;&nbsp; 772000 | &nbsp;&nbsp;Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144a, 7.000%, 1/15/31 | &nbsp;&nbsp; 800931 |
| &nbsp;&nbsp;1572000 | &nbsp;&nbsp;Allstate Corp. (The), Ser B, (TSFR3M + 3.200%), 7.051%, 8/15/53<sup>(A)</sup> | &nbsp;&nbsp; 1572327 |
| &nbsp;&nbsp;1028000 | &nbsp;&nbsp;Asurion LLC and Asurion Co-Issuer, Inc., 144a, 8.000%, 12/31/32 | &nbsp;&nbsp; 1066546 |
| &nbsp;&nbsp; 946000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 9.250%, 12/15/28 | &nbsp;&nbsp; 988720 |
| &nbsp;&nbsp; 312000 | &nbsp;&nbsp;Credit Acceptance Corp., 144a, 6.625%, 3/15/30 | &nbsp;&nbsp; 312375 |
| &nbsp;&nbsp; 244000 | &nbsp;&nbsp;CrossCountry Intermediate HoldCo LLC, 144a, 6.500%, 10/1/30 | &nbsp;&nbsp; 248869 |
| &nbsp;&nbsp; 742000 | &nbsp;&nbsp;Encore Capital Group, Inc., 144a, 8.500%, 5/15/30 | &nbsp;&nbsp; 796421 |
| &nbsp;&nbsp; 320000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 6.875%, 5/1/31 | &nbsp;&nbsp; 320278 |
| &nbsp;&nbsp; 848000 | &nbsp;&nbsp;Freedom Mortgage Holdings LLC, 144a, 9.250%, 2/1/29 | &nbsp;&nbsp; 886228 |
| &nbsp;&nbsp; 922000 | &nbsp;&nbsp;goeasy Ltd. (Canada), 144a, 9.250%, 12/1/28 | &nbsp;&nbsp; 947987 |
| &nbsp;&nbsp; 624000 | &nbsp;&nbsp;Jefferies Finance LLC / JFIN Co-Issuer Corp., 144a, 6.625%, 10/15/31 | &nbsp;&nbsp; 614067 |
| &nbsp;&nbsp; 707000 | &nbsp;&nbsp;Navient Corp., 5.000%, 3/15/27 | &nbsp;&nbsp; 708337 |
| &nbsp;&nbsp; 121000 | &nbsp;&nbsp;Navient Corp., 7.875%, 6/15/32 | &nbsp;&nbsp; 126589 |
| &nbsp;&nbsp; 228000 | &nbsp;&nbsp;OneMain Finance Corp., 4.000%, 9/15/30<sup>†</sup> | &nbsp;&nbsp; 213724 |
| &nbsp;&nbsp; 182000 | &nbsp;&nbsp;OneMain Finance Corp., 6.625%, 5/15/29 | &nbsp;&nbsp; 188480 |
| &nbsp;&nbsp; 394000 | &nbsp;&nbsp;OneMain Finance Corp., 7.500%, 5/15/31 | &nbsp;&nbsp; 414551 |
| &nbsp;&nbsp; 414000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 5.750%, 9/15/31<sup>†</sup> | &nbsp;&nbsp; 415713 |
| &nbsp;&nbsp; 198000 | &nbsp;&nbsp;PennyMac Financial Services, Inc., 144a, 7.875%, 12/15/29 | &nbsp;&nbsp; 210682 |

---

------

Touchstone High Yield Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 96.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 13.0% (Continued)** |  |
| $964000 | &nbsp;&nbsp;PRA Group, Inc., 144a, 8.875%, 1/31/30 | $997289 |
| &nbsp;&nbsp; 529000 | &nbsp;&nbsp;Rocket Cos., Inc., 144a, 7.125%, 2/1/32 | &nbsp;&nbsp; 556507 |
| &nbsp;&nbsp; 438000 | &nbsp;&nbsp;SBL Holdings, Inc., 144a, 9.508%<sup>(B)</sup> | &nbsp;&nbsp; 446760 |
|  |  | &nbsp;&nbsp; 14076288 |
|  | &nbsp;&nbsp;**Industrials — 11.3%** |  |
| &nbsp;&nbsp; 778000 | &nbsp;&nbsp;Brundage-Bone Concrete Pumping Holdings, Inc., 144a, 7.500%, 2/1/32 | &nbsp;&nbsp; 794180 |
| &nbsp;&nbsp; 697000 | &nbsp;&nbsp;Canpack SA / Canpack US LLC (Poland), 144a, 3.875%, 11/15/29 | &nbsp;&nbsp; 666875 |
| &nbsp;&nbsp; 938000 | &nbsp;&nbsp;Clearwater Paper Corp., 144a, 4.750%, 8/15/28 | &nbsp;&nbsp; 877030 |
| &nbsp;&nbsp; 364000 | &nbsp;&nbsp;EMRLD Borrower LP / Emerald Co-Issuer, Inc., 144a, 6.625%, 12/15/30 | &nbsp;&nbsp; 379406 |
| &nbsp;&nbsp; 308000 | &nbsp;&nbsp;FTAI Aviation Investors LLC, 144a, 7.000%, 6/15/32 | &nbsp;&nbsp; 323804 |
| &nbsp;&nbsp;1165000 | &nbsp;&nbsp;Imola Merger Corp., 144a, 4.750%, 5/15/29 | &nbsp;&nbsp; 1149878 |
| &nbsp;&nbsp; 537000 | &nbsp;&nbsp;Madison IAQ LLC, 144a, 5.875%, 6/30/29 | &nbsp;&nbsp; 533753 |
| &nbsp;&nbsp;1049000 | &nbsp;&nbsp;Manitowoc Co., Inc. (The), 144a, 9.250%, 10/1/31 | &nbsp;&nbsp; 1129355 |
| &nbsp;&nbsp; 923000 | &nbsp;&nbsp;Owens-Brockway Glass Container, Inc., 144a, 7.250%, 5/15/31 | &nbsp;&nbsp; 942190 |
| &nbsp;&nbsp;1106000 | &nbsp;&nbsp;Stanley Black & Decker, Inc., 6.707%, 3/15/60 | &nbsp;&nbsp; 1107764 |
| &nbsp;&nbsp; 678000 | &nbsp;&nbsp;Stonepeak Nile Parent LLC, 144a, 7.250%, 3/15/32 | &nbsp;&nbsp; 717509 |
| &nbsp;&nbsp;1160000 | &nbsp;&nbsp;Textron Financial Corp., 144a, (TSFR3M + 1.997%), 5.848%, 2/15/42<sup>(A)</sup> | &nbsp;&nbsp; 1045352 |
| &nbsp;&nbsp;1110000 | &nbsp;&nbsp;TK Elevator US Newco, Inc. (Germany), 144a, 5.250%, 7/15/27 | &nbsp;&nbsp; 1110264 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;TransDigm, Inc., 4.625%, 1/15/29 | &nbsp;&nbsp; 993370 |
| &nbsp;&nbsp; 507000 | &nbsp;&nbsp;TransDigm, Inc., 144a, 6.625%, 3/1/32 | &nbsp;&nbsp; 527522 |
|  |  | &nbsp;&nbsp; 12298252 |
|  | &nbsp;&nbsp;**Consumer Staples — 7.9%** |  |
| &nbsp;&nbsp;1039000 | &nbsp;&nbsp;Allied Universal Holdco LLC, 144a, 7.875%, 2/15/31 | &nbsp;&nbsp; 1094980 |
| &nbsp;&nbsp; 575000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 5.375%, 3/1/29 | &nbsp;&nbsp; 560424 |
| &nbsp;&nbsp; 183000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.250%, 1/15/30 | &nbsp;&nbsp; 189386 |
| &nbsp;&nbsp; 121000 | &nbsp;&nbsp;Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 144a, 8.375%, 6/15/32 | &nbsp;&nbsp; 124944 |
| &nbsp;&nbsp;1043000 | &nbsp;&nbsp;Herc Holdings, Inc., 144a, 7.000%, 6/15/30 | &nbsp;&nbsp; 1097646 |
| &nbsp;&nbsp; 527000 | &nbsp;&nbsp;PetSmart LLC / PetSmart Finance Corp., 144a, 7.500%, 9/15/32 | &nbsp;&nbsp; 536320 |
| &nbsp;&nbsp; 529000 | &nbsp;&nbsp;S&S Holdings LLC, 144a, 8.375%, 10/1/31 | &nbsp;&nbsp; 506922 |
| &nbsp;&nbsp;1185000 | &nbsp;&nbsp;Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed, 144a, 4.625%, 3/1/29 | &nbsp;&nbsp; 1141991 |
| &nbsp;&nbsp;1162000 | &nbsp;&nbsp;Turning Point Brands, Inc., 144a, 7.625%, 3/15/32 | &nbsp;&nbsp; 1236731 |
| &nbsp;&nbsp;1133000 | &nbsp;&nbsp;Velocity Vehicle Group LLC, 144a, 8.000%, 6/1/29 | &nbsp;&nbsp; 1076401 |
| &nbsp;&nbsp; 992000 | &nbsp;&nbsp;VT Topco, Inc., 144a, 8.500%, 8/15/30 | &nbsp;&nbsp; 1035969 |
|  |  | &nbsp;&nbsp; 8601714 |
|  | &nbsp;&nbsp;**Utilities — 6.4%** |  |
| &nbsp;&nbsp;1178000 | &nbsp;&nbsp;Algonquin Power & Utilities Corp. (Canada), 4.750%, 1/18/82 | &nbsp;&nbsp; 1161706 |
| &nbsp;&nbsp; 488000 | &nbsp;&nbsp;AltaGas Ltd. (Canada), 144a, 7.200%, 10/15/54 | &nbsp;&nbsp; 505883 |
| &nbsp;&nbsp;1033000 | &nbsp;&nbsp;Edison International, 7.875%, 6/15/54 | &nbsp;&nbsp; 1077858 |
| &nbsp;&nbsp;1110000 | &nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 5.990%, 10/1/66<sup>(A)</sup> | &nbsp;&nbsp; 971092 |
| &nbsp;&nbsp; 529000 | &nbsp;&nbsp;PacifiCorp, 7.375%, 9/15/55 | &nbsp;&nbsp; 539152 |
| &nbsp;&nbsp;1022000 | &nbsp;&nbsp;PPL Capital Funding, Inc., Ser A, (TSFR3M + 2.927%), 6.612%, 3/30/67<sup>(A)</sup> | &nbsp;&nbsp; 998764 |
| &nbsp;&nbsp; 594000 | &nbsp;&nbsp;Sempra, 4.125%, 4/1/52 | &nbsp;&nbsp; 581822 |
| &nbsp;&nbsp;1283000 | &nbsp;&nbsp;South Jersey Industries, Inc., 5.020%, 4/15/31 | &nbsp;&nbsp; 1112547 |
|  |  | &nbsp;&nbsp; 6948824 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 96.9% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 5.8%** |  |
| $592000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 4.625%, 8/1/29 | $573911 |
| &nbsp;&nbsp; 293000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 5.125%, 3/1/30 | &nbsp;&nbsp; 285796 |
| &nbsp;&nbsp; 330000 | &nbsp;&nbsp;AdaptHealth LLC, 144a, 6.125%, 8/1/28 | &nbsp;&nbsp; 332468 |
| &nbsp;&nbsp;1229000 | &nbsp;&nbsp;AHP Health Partners, Inc., 144a, 5.750%, 7/15/29 | &nbsp;&nbsp; 1218538 |
| &nbsp;&nbsp; 850000 | &nbsp;&nbsp;DaVita, Inc., 144a, 6.750%, 7/15/33 | &nbsp;&nbsp; 881359 |
| &nbsp;&nbsp; 200000 | &nbsp;&nbsp;GENMAB A/S/GENMAB FINANCE LLC (Denmark), 144a, 6.250%, 12/15/32 | &nbsp;&nbsp; 204919 |
| &nbsp;&nbsp; 278000 | &nbsp;&nbsp;GENMAB A/S/GENMAB FINANCE LLC (Denmark), 144a, 7.250%, 12/15/33 | &nbsp;&nbsp; 292926 |
| &nbsp;&nbsp; 639000 | &nbsp;&nbsp;Global Medical Response, Inc., 144a, 7.375%, 10/1/32 | &nbsp;&nbsp; 664160 |
| &nbsp;&nbsp; 640000 | &nbsp;&nbsp;National Mentor Holdings, Inc., 144a, 10.500%, 12/15/30 | &nbsp;&nbsp; 643391 |
| &nbsp;&nbsp; 551000 | &nbsp;&nbsp;Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 144a, 4.125%, 4/30/28 | &nbsp;&nbsp; 536914 |
| &nbsp;&nbsp; 295000 | &nbsp;&nbsp;Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 144a, 5.125%, 4/30/31 | &nbsp;&nbsp; 244318 |
| &nbsp;&nbsp; 423000 | &nbsp;&nbsp;Tenet Healthcare Corp., 144a, 6.000%, 11/15/33 | &nbsp;&nbsp; 435519 |
|  |  | &nbsp;&nbsp; 6314219 |
|  | &nbsp;&nbsp;**Information Technology — 3.8%** |  |
| &nbsp;&nbsp; 257000 | &nbsp;&nbsp;CACI International, Inc., 144a, 6.375%, 6/15/33 | &nbsp;&nbsp; 265912 |
| &nbsp;&nbsp; 484000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 8.250%, 6/30/32 | &nbsp;&nbsp; 505800 |
| &nbsp;&nbsp; 498000 | &nbsp;&nbsp;Cloud Software Group, Inc., 144a, 9.000%, 9/30/29 | &nbsp;&nbsp; 518514 |
| &nbsp;&nbsp;1071000 | &nbsp;&nbsp;Consensus Cloud Solutions, Inc., 144a, 6.500%, 10/15/28 | &nbsp;&nbsp; 1075174 |
| &nbsp;&nbsp; 448000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 12/1/29 | &nbsp;&nbsp; 425151 |
| &nbsp;&nbsp; 560000 | &nbsp;&nbsp;Open Text Corp. (Canada), 144a, 3.875%, 2/15/28 | &nbsp;&nbsp; 549531 |
| &nbsp;&nbsp; 798000 | &nbsp;&nbsp;Science Applications International Corp., 144a, 5.875%, 11/1/33 | &nbsp;&nbsp; 808964 |
|  |  | &nbsp;&nbsp; 4149046 |
|  | &nbsp;&nbsp;**Materials — 3.5%** |  |
| &nbsp;&nbsp; 998000 | &nbsp;&nbsp;Celanese US Holdings LLC, 6.879%, 7/15/32 | &nbsp;&nbsp; 1040646 |
| &nbsp;&nbsp; 739000 | &nbsp;&nbsp;Cerdia Finanz GmbH (Germany), 144a, 9.375%, 10/3/31 | &nbsp;&nbsp; 763941 |
| &nbsp;&nbsp;1041000 | &nbsp;&nbsp;INEOS Finance PLC (Luxembourg), 144a, 6.750%, 5/15/28 | &nbsp;&nbsp; 921403 |
| &nbsp;&nbsp;1175000 | &nbsp;&nbsp;Magnera Corp., 144a, 4.750%, 11/15/29<sup>†</sup> | &nbsp;&nbsp; 1085987 |
|  |  | &nbsp;&nbsp; 3811977 |
|  | &nbsp;&nbsp;**Real Estate — 1.2%** |  |
| &nbsp;&nbsp; 91000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 5.250%, 7/15/30 | &nbsp;&nbsp; 89900 |
| &nbsp;&nbsp; 984000 | &nbsp;&nbsp;Iron Mountain, Inc. REIT, 144a, 5.625%, 7/15/32 | &nbsp;&nbsp; 968524 |
| &nbsp;&nbsp; 243000 | &nbsp;&nbsp;XHR LP REIT, 144a, 6.625%, 5/15/30 | &nbsp;&nbsp; 251175 |
|  |  | &nbsp;&nbsp; 1309599 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $105179627 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Common Stocks — 0.1%** |  |
|  | &nbsp;&nbsp;**Communication Services — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;Altice Luxembourg SA (Luxembourg)\* | &nbsp;&nbsp; 7089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9086 | &nbsp;&nbsp;Altice Luxembourg SA (Luxembourg)\* | &nbsp;&nbsp; 160018 |
|  | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;&nbsp;&nbsp; $167107 |

---

------

Touchstone High Yield Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 3.1%** |  |
| 1557352 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | $1557352 |
| 1814573 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 1814573 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp; $3371925 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $108,926,048)** | $108718659 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (152502) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $108566157 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of December 31, 2025.* |
| *(B)* | *Perpetual Bond - A bond or preferred stock with no definite maturity date.* |
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $1,752,964.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *DAC – Designated Activity Company* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $84,902,944 or 78.2% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$105179627* | *$—* | *$105179627* |
| *Common Stocks* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*167107* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*167107* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;*3371925* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3371925* |
| *Total* | *$3371925* | *$105346734* | *$—* | *$108718659* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0%** |  |
|  | &nbsp;&nbsp;**Industrials — 25.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2022706 | &nbsp;&nbsp;AerCap Holdings NV (Ireland) | $290784215 |
| &nbsp;&nbsp;&nbsp;&nbsp;1937985 | &nbsp;&nbsp;Allison Transmission Holdings, Inc. | &nbsp;&nbsp; 189728731 |
| &nbsp;&nbsp;&nbsp;&nbsp;1270810 | &nbsp;&nbsp;Armstrong World Industries, Inc. | &nbsp;&nbsp; 242851791 |
| &nbsp;&nbsp;&nbsp;&nbsp;2785190 | &nbsp;&nbsp;Copart, Inc.\* | &nbsp;&nbsp; 109040188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291227 | &nbsp;&nbsp;Lennox International, Inc. | &nbsp;&nbsp; 141414007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534800 | &nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 83856640 |
| &nbsp;&nbsp;&nbsp;&nbsp;1705002 | &nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp; 148931925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577160 | &nbsp;&nbsp;UniFirst Corp. | &nbsp;&nbsp; 111334164 |
|  |  | &nbsp;&nbsp;1317941661 |
|  | &nbsp;&nbsp;**Financials — 15.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3981869 | &nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp; 180338847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831321 | &nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp; 135771346 |
| &nbsp;&nbsp;&nbsp;&nbsp;2218622 | &nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp; 147449618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900158 | &nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp; 181363834 |
| &nbsp;&nbsp;&nbsp;&nbsp;2308638 | &nbsp;&nbsp;Moelis & Co. - Class A | &nbsp;&nbsp; 158695776 |
|  |  | &nbsp;&nbsp; 803619421 |
|  | &nbsp;&nbsp;**Health Care — 13.8%** |  |
| 11220187 | &nbsp;&nbsp;Avantor, Inc.\* | &nbsp;&nbsp; 128583343 |
| &nbsp;&nbsp;&nbsp;&nbsp;2260982 | &nbsp;&nbsp;Bruker Corp. | &nbsp;&nbsp; 106514862 |
| &nbsp;&nbsp;&nbsp;&nbsp;1916805 | &nbsp;&nbsp;Cooper Cos., Inc. (The)\* | &nbsp;&nbsp; 157101338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683060 | &nbsp;&nbsp;STERIS PLC | &nbsp;&nbsp; 173169371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360063 | &nbsp;&nbsp;Waters Corp.\* | &nbsp;&nbsp; 136762729 |
|  |  | &nbsp;&nbsp; 702131643 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 11.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2038591 | &nbsp;&nbsp;Churchill Downs, Inc. | &nbsp;&nbsp; 231950884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407719 | &nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp; 93265721 |
| &nbsp;&nbsp;&nbsp;&nbsp;2721651 | &nbsp;&nbsp;Somnigroup International, Inc. | &nbsp;&nbsp; 242989002 |
|  |  | &nbsp;&nbsp; 568205607 |
|  | &nbsp;&nbsp;**Materials — 10.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841912 | &nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp; 102679588 |
| &nbsp;&nbsp;&nbsp;&nbsp;2319227 | &nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp; 122849454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211802 | &nbsp;&nbsp;NewMarket Corp. | &nbsp;&nbsp; 145563042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593045 | &nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp; 169148295 |
|  |  | &nbsp;&nbsp; 540240379 |
|  | &nbsp;&nbsp;**Consumer Staples — 9.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1101368 | &nbsp;&nbsp;Brown-Forman Corp. - Class B | &nbsp;&nbsp; 28701650 |
| &nbsp;&nbsp;&nbsp;&nbsp;2335112 | &nbsp;&nbsp;Dollar Tree, Inc.\* | &nbsp;&nbsp; 287242127 |
| &nbsp;&nbsp;&nbsp;&nbsp;1519676 | &nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp; 63659228 |
| &nbsp;&nbsp;&nbsp;&nbsp;1127844 | &nbsp;&nbsp;Post Holdings, Inc.\* | &nbsp;&nbsp; 111712948 |
|  |  | &nbsp;&nbsp; 491315953 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Information Technology — 8.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481849 | &nbsp;&nbsp;Amphenol Corp. - Class A | $65117074 |
| &nbsp;&nbsp;&nbsp;&nbsp;2075656 | &nbsp;&nbsp;Entegris, Inc. | &nbsp;&nbsp; 174874018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847207 | &nbsp;&nbsp;Keysight Technologies, Inc.\* | &nbsp;&nbsp; 172143990 |
|  |  | &nbsp;&nbsp; 412135082 |
|  | &nbsp;&nbsp;**Real Estate — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1011353 | &nbsp;&nbsp;CBRE Group, Inc. - Class A\* | &nbsp;&nbsp; 162615449 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $4998205195 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.1%** |  |
| 107204310 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 107204310 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $3,668,503,835)** | $5105409505 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (3525352) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $5101884153 |

---

---

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

---

---

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

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$4998205195* | *$—* | *$—* | *$4998205195* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*107204310* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*107204310* |
| *Total* | *$5105409505* | *$—* | *$—* | *$5105409505* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Mid Cap Value Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.6%** |  |
|  | &nbsp;&nbsp;**Industrials — 19.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48477 | &nbsp;&nbsp;AerCap Holdings NV (Ireland) | $6969054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52433 | &nbsp;&nbsp;Clean Harbors, Inc.\* | &nbsp;&nbsp; 12294490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45231 | &nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp; 8830900 |
| &nbsp;&nbsp;&nbsp;&nbsp;172669 | &nbsp;&nbsp;Genpact Ltd. | &nbsp;&nbsp; 8077456 |
| &nbsp;&nbsp;&nbsp;&nbsp;121410 | &nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp; 8972199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25047 | &nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp; 7353048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44231 | &nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp; 7979272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6297 | &nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp; 5534811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90968 | &nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp; 12764630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15673 | &nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp; 5400916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56533 | &nbsp;&nbsp;WESCO International, Inc. | &nbsp;&nbsp; 13830233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38665 | &nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 8253044 |
|  |  | &nbsp;&nbsp;106260053 |
|  | &nbsp;&nbsp;**Financials — 18.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26657 | &nbsp;&nbsp;Allstate Corp. (The) | &nbsp;&nbsp; 5548655 |
| &nbsp;&nbsp;&nbsp;&nbsp;186436 | &nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp; 8443686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81503 | &nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp; 6972582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12159 | &nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp; 5962044 |
| &nbsp;&nbsp;&nbsp;&nbsp;455030 | &nbsp;&nbsp;Blue Owl Capital, Inc.<sup>†</sup> | &nbsp;&nbsp; 6798148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29586 | &nbsp;&nbsp;Evercore, Inc. - Class A | &nbsp;&nbsp; 10066637 |
| &nbsp;&nbsp;&nbsp;&nbsp;495740 | &nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp; 11848186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55948 | &nbsp;&nbsp;Reinsurance Group of America, Inc. | &nbsp;&nbsp; 11383180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67956 | &nbsp;&nbsp;SouthState Bank Corp. | &nbsp;&nbsp; 6395339 |
| &nbsp;&nbsp;&nbsp;&nbsp;373161 | &nbsp;&nbsp;Starwood Property Trust, Inc. REIT | &nbsp;&nbsp; 6720630 |
| &nbsp;&nbsp;&nbsp;&nbsp;155827 | &nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp; 9807751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28415 | &nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp; 9337169 |
|  |  | &nbsp;&nbsp; 99284007 |
|  | &nbsp;&nbsp;**Information Technology — 12.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;117165 | &nbsp;&nbsp;Akamai Technologies, Inc.\* | &nbsp;&nbsp; 10222646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38812 | &nbsp;&nbsp;EPAM Systems, Inc.\* | &nbsp;&nbsp; 7951803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78062 | &nbsp;&nbsp;Keysight Technologies, Inc.\* | &nbsp;&nbsp; 15861418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36489 | &nbsp;&nbsp;Lumentum Holdings, Inc.\* | &nbsp;&nbsp; 13449480 |
| &nbsp;&nbsp;&nbsp;&nbsp;183623 | &nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp; 11700458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56678 | &nbsp;&nbsp;PTC, Inc.\* | &nbsp;&nbsp; 9873874 |
|  |  | &nbsp;&nbsp; 69059679 |
|  | &nbsp;&nbsp;**Health Care — 10.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71786 | &nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp; 9767921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28561 | &nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp; 9646478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91389 | &nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp; 9700029 |
| &nbsp;&nbsp;&nbsp;&nbsp;142940 | &nbsp;&nbsp;Envista Holdings Corp.\* | &nbsp;&nbsp; 3103227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25965 | &nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp; 6650415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35884 | &nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp; 9002578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77037 | &nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp; 6927167 |
|  |  | &nbsp;&nbsp; 54797815 |
|  | &nbsp;&nbsp;**Utilities — 8.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;184972 | &nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp; 7091826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72496 | &nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp; 9350534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97247 | &nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp; 8988540 |
| &nbsp;&nbsp;&nbsp;&nbsp;123463 | &nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp; 8949833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61200 | &nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp; 6454152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85046 | &nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp; 6281498 |
|  |  | &nbsp;&nbsp; 47116383 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 6.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;227882 | &nbsp;&nbsp;Aramark | &nbsp;&nbsp; 8399730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99296 | &nbsp;&nbsp;BorgWarner, Inc. | &nbsp;&nbsp; 4474278 |
| &nbsp;&nbsp;&nbsp;&nbsp;172669 | &nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp; 4018008 |
| &nbsp;&nbsp;&nbsp;&nbsp;101348 | &nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp; 8310536 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.6% (Continued)** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 6.4% (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;137668 | &nbsp;&nbsp;LKQ Corp.<sup>†</sup> | $4157573 |
| &nbsp;&nbsp;&nbsp;&nbsp;202183 | &nbsp;&nbsp;Valvoline, Inc.\* | &nbsp;&nbsp; 5875438 |
|  |  | &nbsp;&nbsp; 35235563 |
|  | &nbsp;&nbsp;**Consumer Staples — 6.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10987 | &nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp; 6072625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24314 | &nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp; 3354359 |
| &nbsp;&nbsp;&nbsp;&nbsp;165199 | &nbsp;&nbsp;Darling Ingredients, Inc.\* | &nbsp;&nbsp; 5947164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48038 | &nbsp;&nbsp;Dollar Tree, Inc.\* | &nbsp;&nbsp; 5909154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42327 | &nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp; 4666975 |
| &nbsp;&nbsp;&nbsp;&nbsp;106914 | &nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp; 4478628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73961 | &nbsp;&nbsp;Tyson Foods, Inc. - Class A | &nbsp;&nbsp; 4335594 |
|  |  | &nbsp;&nbsp; 34764499 |
|  | &nbsp;&nbsp;**Materials — 6.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;230371 | &nbsp;&nbsp;Axalta Coating Systems Ltd.\* | &nbsp;&nbsp; 7443287 |
| &nbsp;&nbsp;&nbsp;&nbsp;125365 | &nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp; 6640584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35318 | &nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp; 7299524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66200 | &nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp; 4461218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37640 | &nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp; 7762497 |
|  |  | &nbsp;&nbsp; 33607110 |
|  | &nbsp;&nbsp;**Energy — 5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;259780 | &nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp; 6837410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45550 | &nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp; 6847532 |
| &nbsp;&nbsp;&nbsp;&nbsp;487248 | &nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp; 6836089 |
| &nbsp;&nbsp;&nbsp;&nbsp;252632 | &nbsp;&nbsp;SLB Ltd. | &nbsp;&nbsp; 9696016 |
|  |  | &nbsp;&nbsp; 30217047 |
|  | &nbsp;&nbsp;**Real Estate — 4.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;113649 | &nbsp;&nbsp;Agree Realty Corp. REIT<sup>†</sup> | &nbsp;&nbsp; 8186137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25810 | &nbsp;&nbsp;Essex Property Trust, Inc. REIT | &nbsp;&nbsp; 6753961 |
| &nbsp;&nbsp;&nbsp;&nbsp;252924 | &nbsp;&nbsp;Host Hotels & Resorts, Inc. REIT | &nbsp;&nbsp; 4484343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52634 | &nbsp;&nbsp;Mid-America Apartment Communities, Inc. REIT | &nbsp;&nbsp; 7311389 |
|  |  | &nbsp;&nbsp; 26735830 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $537077986 |
|  | &nbsp;&nbsp;**Exchange-Traded Fund — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37030 | &nbsp;&nbsp;iShares S&P Mid-Cap 400 Value ETF<sup>†</sup> | &nbsp;&nbsp; 4872778 |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 3.9%** |  |
| 7896098 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 7896098 |
| 13253569 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 13253569 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp; $21149667 |
|  | &nbsp;&nbsp;**Total Investment Securities—102.4%<br> (Cost $423,333,587)** | $563100431 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (2.4%)** | &nbsp;&nbsp;&nbsp;(13057657) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $550042774 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $12,833,294.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ETF – Exchange-Traded Fund* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *S&P – Standard & Poor's* |

---

------

Touchstone Mid Cap Value Fund (Unaudited) (Continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$537077986* | *$—* | *$—* | *$537077986* |
| *Exchange-Traded Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4872778* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4872778* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;*21149667* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*21149667* |
| *Total* | *$563100431* | *$—* | *$—* | *$563100431* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Sands Capital International Growth Equity Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.0%** |  |
|  | &nbsp;&nbsp;**Netherlands — 10.3%** |  |
|  | &nbsp;&nbsp;**Financials — 3.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353 | &nbsp;&nbsp;Adyen NV, 144a\* | $3794388 |
|  | &nbsp;&nbsp;**Health Care — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006 | &nbsp;&nbsp;Argenx SE ADR\* | &nbsp;&nbsp; 2527896 |
|  | &nbsp;&nbsp;**Information Technology — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970 | &nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 4247344 |
|  | &nbsp;&nbsp;Total Netherlands | &nbsp;&nbsp; 10569628 |
|  | &nbsp;&nbsp;**Switzerland — 9.9%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;54259 | &nbsp;&nbsp;On Holding AG - Class A\* | &nbsp;&nbsp; 2521958 |
|  | &nbsp;&nbsp;**Health Care — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;23661 | &nbsp;&nbsp;Galderma Group AG | &nbsp;&nbsp; 4818157 |
|  | &nbsp;&nbsp;**Industrials — 2.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5948 | &nbsp;&nbsp;VAT Group AG, 144a | &nbsp;&nbsp; 2855635 |
|  | &nbsp;&nbsp;Total Switzerland | &nbsp;&nbsp; 10195750 |
|  | &nbsp;&nbsp;**Canada — 8.8%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;15208 | &nbsp;&nbsp;Dollarama, Inc. | &nbsp;&nbsp; 2272973 |
|  | &nbsp;&nbsp;**Information Technology — 6.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;41978 | &nbsp;&nbsp;Shopify, Inc. - Class A\* | &nbsp;&nbsp; 6757199 |
|  | &nbsp;&nbsp;Total Canada | &nbsp;&nbsp; 9030172 |
|  | &nbsp;&nbsp;**Taiwan — 8.2%** |  |
|  | &nbsp;&nbsp;**Information Technology — 8.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;27644 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp; 8400735 |
|  | &nbsp;&nbsp;**Brazil — 8.1%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;MercadoLibre, Inc.\* | &nbsp;&nbsp; 4358859 |
|  | &nbsp;&nbsp;**Financials — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;137031 | &nbsp;&nbsp;NU Holdings Ltd. - Class A\* | &nbsp;&nbsp; 2293899 |
|  | &nbsp;&nbsp;**Industrials — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;192047 | &nbsp;&nbsp;WEG SA | &nbsp;&nbsp; 1700114 |
|  | &nbsp;&nbsp;Total Brazil | &nbsp;&nbsp; 8352872 |
|  | &nbsp;&nbsp;**United States — 7.5%** |  |
|  | &nbsp;&nbsp;**Communication Services — 7.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;30659 | &nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One - Class C\* | &nbsp;&nbsp; 3020218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8046 | &nbsp;&nbsp;Spotify Technology SA\* | &nbsp;&nbsp; 4672393 |
|  | &nbsp;&nbsp;Total United States | &nbsp;&nbsp; 7692611 |
|  | &nbsp;&nbsp;**India — 7.2%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;46898 | &nbsp;&nbsp;Titan Co. Ltd. | &nbsp;&nbsp; 2117135 |
|  | &nbsp;&nbsp;**Financials — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;230680 | &nbsp;&nbsp;Bajaj Finance Ltd. | &nbsp;&nbsp; 2536785 |
| &nbsp;&nbsp;&nbsp;&nbsp;244788 | &nbsp;&nbsp;HDFC Bank Ltd. | &nbsp;&nbsp; 2704148 |
|  | &nbsp;&nbsp;Total India | &nbsp;&nbsp; 7358068 |
|  | &nbsp;&nbsp;**Sweden — 6.6%** |  |
|  | &nbsp;&nbsp;**Industrials — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;123416 | &nbsp;&nbsp;AddTech AB - Class B | &nbsp;&nbsp; 4346540 |
|  | &nbsp;&nbsp;**Information Technology — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;206004 | &nbsp;&nbsp;Hexagon AB - Class B | &nbsp;&nbsp; 2426460 |
|  | &nbsp;&nbsp;Total Sweden | &nbsp;&nbsp; 6773000 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 99.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Japan — 5.8%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;131100 | &nbsp;&nbsp;Ajinomoto Co., Inc. | $2771454 |
|  | &nbsp;&nbsp;**Information Technology — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp; 3219353 |
|  | &nbsp;&nbsp;Total Japan | &nbsp;&nbsp; 5990807 |
|  | &nbsp;&nbsp;**United Kingdom — 5.8%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14919 | &nbsp;&nbsp;Flutter Entertainment PLC\* | &nbsp;&nbsp; 3208182 |
|  | &nbsp;&nbsp;**Financials — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;62156 | &nbsp;&nbsp;3i Group PLC | &nbsp;&nbsp; 2725468 |
|  | &nbsp;&nbsp;Total United Kingdom | &nbsp;&nbsp; 5933650 |
|  | &nbsp;&nbsp;**Singapore — 4.4%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;35248 | &nbsp;&nbsp;Sea Ltd. ADR\* | &nbsp;&nbsp; 4496587 |
|  | &nbsp;&nbsp;**Germany — 4.3%** |  |
|  | &nbsp;&nbsp;**Communication Services — 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;47918 | &nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 4386526 |
|  | &nbsp;&nbsp;**Italy — 4.0%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6506 | &nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp; 2404357 |
|  | &nbsp;&nbsp;**Health Care — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;86041 | &nbsp;&nbsp;Stevanato Group SpA | &nbsp;&nbsp; 1731145 |
|  | &nbsp;&nbsp;Total Italy | &nbsp;&nbsp; 4135502 |
|  | &nbsp;&nbsp;**France — 3.1%** |  |
|  | &nbsp;&nbsp;**Health Care — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10238 | &nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp; 3237235 |
|  | &nbsp;&nbsp;**Poland — 2.4%** |  |
|  | &nbsp;&nbsp;**Consumer Staples — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;218380 | &nbsp;&nbsp;Dino Polska SA, 144a\* | &nbsp;&nbsp; 2507276 |
|  | &nbsp;&nbsp;**Denmark — 1.5%** |  |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14047 | &nbsp;&nbsp;Pandora A/S | &nbsp;&nbsp; 1553402 |
|  | &nbsp;&nbsp;**Australia — 1.1%** |  |
|  | &nbsp;&nbsp;**Health Care — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7995 | &nbsp;&nbsp;Pro Medicus Ltd. | &nbsp;&nbsp; 1174171 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $101787992 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 1.6%** |  |
| 1651994 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 1651994 |
|  | &nbsp;&nbsp;**Total Investment Securities — 100.6%<br> (Cost $80,018,257)** | $103439986 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.6)%** | &nbsp;&nbsp;&nbsp; (614637) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $102825349 |

---

---

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

---

------

Touchstone Sands Capital International Growth Equity Fund (Unaudited) (Continued)

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ADR – American Depositary Receipt* |
| *PLC – Public Limited Company* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $9,157,299 or 8.9% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** | ***Valuation inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Netherlands* | *$6775240* | *$3794388* | *$—* | *$10569628* |
| &nbsp;&nbsp;&nbsp;*Switzerland* | &nbsp;&nbsp;&nbsp;&nbsp;*2521958* | &nbsp;&nbsp;&nbsp;&nbsp;*7673792* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*10195750* |
| &nbsp;&nbsp;&nbsp;*Canada* | &nbsp;&nbsp;&nbsp;&nbsp;*9030172* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*9030172* |
| &nbsp;&nbsp;&nbsp;*Taiwan* | &nbsp;&nbsp;&nbsp;&nbsp;*8400735* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8400735* |
| &nbsp;&nbsp;&nbsp;*Brazil* | &nbsp;&nbsp;&nbsp;&nbsp;*8352872* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*8352872* |
| &nbsp;&nbsp;&nbsp;*United States* | &nbsp;&nbsp;&nbsp;&nbsp;*7692611* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*7692611* |
| &nbsp;&nbsp;&nbsp;*India* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*7358068* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*7358068* |
| &nbsp;&nbsp;&nbsp;*Sweden* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*6773000* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*6773000* |
| &nbsp;&nbsp;&nbsp;*Japan* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*5990807* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5990807* |
| &nbsp;&nbsp;&nbsp;*United Kingdom* | &nbsp;&nbsp;&nbsp;&nbsp;*3208182* | &nbsp;&nbsp;&nbsp;&nbsp;*2725468* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5933650* |
| &nbsp;&nbsp;&nbsp;*Singapore* | &nbsp;&nbsp;&nbsp;&nbsp;*4496587* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4496587* |
| &nbsp;&nbsp;&nbsp;*Germany* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*4386526* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4386526* |
| &nbsp;&nbsp;&nbsp;*Italy* | &nbsp;&nbsp;&nbsp;&nbsp;*4135502* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4135502* |
| &nbsp;&nbsp;&nbsp;*France* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*3237235* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3237235* |
| &nbsp;&nbsp;&nbsp;*Poland* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*2507276* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2507276* |
| &nbsp;&nbsp;&nbsp;*Denmark* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1553402* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1553402* |
| &nbsp;&nbsp;&nbsp;*Australia* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*1174171* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1174171* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;*1651994* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1651994* |
| *Total* | *$56265853* | *$47174133* | *$—* | *$103439986* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Sands Capital Select Growth Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.6%** |  |
|  | &nbsp;&nbsp;**Information Technology — 46.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;144766 | &nbsp;&nbsp;AppLovin Corp. - Class A\* | $97546226 |
| &nbsp;&nbsp;&nbsp;&nbsp;325468 | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 112644475 |
| &nbsp;&nbsp;&nbsp;&nbsp;190827 | &nbsp;&nbsp;Cloudflare, Inc. - Class A\* | &nbsp;&nbsp; 37621543 |
| &nbsp;&nbsp;&nbsp;&nbsp;230031 | &nbsp;&nbsp;Datadog, Inc. - Class A\* | &nbsp;&nbsp; 31281916 |
| &nbsp;&nbsp;&nbsp;&nbsp;350611 | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 169562492 |
| 1853136 | &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 345609864 |
| 1707892 | &nbsp;&nbsp;Samsara, Inc. - Class A\* | &nbsp;&nbsp; 60544771 |
| &nbsp;&nbsp;&nbsp;&nbsp;764198 | &nbsp;&nbsp;Shopify, Inc. (Canada) - Class A\* | &nbsp;&nbsp; 123012952 |
| &nbsp;&nbsp;&nbsp;&nbsp;271013 | &nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | &nbsp;&nbsp; 82358141 |
|  |  | &nbsp;&nbsp;1060182380 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 18.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;661309 | &nbsp;&nbsp;Amazon.com, Inc.\* | &nbsp;&nbsp; 152643344 |
| &nbsp;&nbsp;&nbsp;&nbsp;262877 | &nbsp;&nbsp;Carvana Co.\* | &nbsp;&nbsp; 110939352 |
| &nbsp;&nbsp;&nbsp;&nbsp;307765 | &nbsp;&nbsp;DoorDash, Inc. - Class A\* | &nbsp;&nbsp; 69702617 |
| &nbsp;&nbsp;&nbsp;&nbsp;633928 | &nbsp;&nbsp;Sea Ltd. (Singapore) ADR\* | &nbsp;&nbsp; 80870195 |
|  |  | &nbsp;&nbsp; 414155508 |
|  | &nbsp;&nbsp;**Communication Services — 17.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;309821 | &nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp; 96973973 |
| &nbsp;&nbsp;&nbsp;&nbsp;217480 | &nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp; 143556373 |
| &nbsp;&nbsp;&nbsp;&nbsp;557175 | &nbsp;&nbsp;Netflix, Inc.\* | &nbsp;&nbsp; 52240728 |
| &nbsp;&nbsp;&nbsp;&nbsp;528160 | &nbsp;&nbsp;ROBLOX Corp. - Class A\* | &nbsp;&nbsp; 42796805 |
| &nbsp;&nbsp;&nbsp;&nbsp;113286 | &nbsp;&nbsp;Spotify Technology SA\* | &nbsp;&nbsp; 65786313 |
|  |  | &nbsp;&nbsp; 401354192 |
|  | &nbsp;&nbsp;**Financials — 11.1%** |  |
| 1013846 | &nbsp;&nbsp;Block, Inc.\* | &nbsp;&nbsp; 65991236 |
| &nbsp;&nbsp;&nbsp;&nbsp;307820 | &nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp; 49854527 |
| 4599518 | &nbsp;&nbsp;NU Holdings Ltd. (Brazil) - Class A\* | &nbsp;&nbsp; 76995931 |
| &nbsp;&nbsp;&nbsp;&nbsp;180664 | &nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp; 63360672 |
|  |  | &nbsp;&nbsp; 256202366 |
|  | &nbsp;&nbsp;**Industrials — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44812 | &nbsp;&nbsp;Axon Enterprise, Inc.\* | &nbsp;&nbsp; 25450079 |
| &nbsp;&nbsp;&nbsp;&nbsp;115856 | &nbsp;&nbsp;Carpenter Technology Corp. | &nbsp;&nbsp; 36476103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76288 | &nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp; 32198113 |
|  |  | &nbsp;&nbsp; 94124295 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.6% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;683602 | &nbsp;&nbsp;Ultragenyx Pharmaceutical, Inc.\* | $15722846 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $2241741587 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.5%** |  |
| 57565615 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 57565615 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.1%<br> (Cost $1,413,345,489)** | $2299307202 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (0.1%)** | &nbsp;&nbsp;&nbsp; (3268314) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $2296038888 |

---

---

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

---

---

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

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$2241741587* | *$—* | *$—* | *$2241741587* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*57565615* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*57565615* |
| *Total* | *$2299307202* | *$—* | *$—* | *$2299307202* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

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

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8%** |  |
|  | &nbsp;&nbsp;**Industrials — 23.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;51998 | &nbsp;&nbsp;Armstrong World Industries, Inc. | $9936818 |
| &nbsp;&nbsp;&nbsp;&nbsp;120064 | &nbsp;&nbsp;Atkore, Inc. | &nbsp;&nbsp; 7594048 |
| &nbsp;&nbsp;&nbsp;&nbsp;68097 | &nbsp;&nbsp;Casella Waste Systems, Inc. - Class A\* | &nbsp;&nbsp; 6669420 |
| &nbsp;&nbsp;&nbsp;&nbsp;405922 | &nbsp;&nbsp;Gates Industrial Corp. PLC\* | &nbsp;&nbsp; 8715145 |
| &nbsp;&nbsp;&nbsp;&nbsp;62602 | &nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp; 8995908 |
| &nbsp;&nbsp;&nbsp;&nbsp;264163 | &nbsp;&nbsp;Marten Transport Ltd. | &nbsp;&nbsp; 3006175 |
| &nbsp;&nbsp;&nbsp;&nbsp;69226 | &nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp; 8552872 |
| &nbsp;&nbsp;&nbsp;&nbsp;29261 | &nbsp;&nbsp;UniFirst Corp. | &nbsp;&nbsp; 5644447 |
|  |  | &nbsp;&nbsp; 59114833 |
|  | &nbsp;&nbsp;**Information Technology — 19.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;241155 | &nbsp;&nbsp;ACI Worldwide, Inc.\* | &nbsp;&nbsp; 11529621 |
| 1086191 | &nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.\* | &nbsp;&nbsp; 8635218 |
| &nbsp;&nbsp;&nbsp;&nbsp;158383 | &nbsp;&nbsp;CTS Corp. | &nbsp;&nbsp; 6789879 |
| &nbsp;&nbsp;&nbsp;&nbsp;80670 | &nbsp;&nbsp;ePlus, Inc. | &nbsp;&nbsp; 7074759 |
| &nbsp;&nbsp;&nbsp;&nbsp;44611 | &nbsp;&nbsp;Qualys, Inc.\* | &nbsp;&nbsp; 5928802 |
| &nbsp;&nbsp;&nbsp;&nbsp;242781 | &nbsp;&nbsp;Vontier Corp. | &nbsp;&nbsp; 9026598 |
|  |  | &nbsp;&nbsp; 48984877 |
|  | &nbsp;&nbsp;**Financials — 16.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;242683 | &nbsp;&nbsp;Atlantic Union Bankshares Corp. | &nbsp;&nbsp; 8566710 |
| &nbsp;&nbsp;&nbsp;&nbsp;43004 | &nbsp;&nbsp;Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp; 7859841 |
| &nbsp;&nbsp;&nbsp;&nbsp;157432 | &nbsp;&nbsp;Moelis & Co. - Class A | &nbsp;&nbsp; 10821875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7123 | &nbsp;&nbsp;White Mountains Insurance Group Ltd. | &nbsp;&nbsp; 14801808 |
|  |  | &nbsp;&nbsp; 42050234 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 13.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;119964 | &nbsp;&nbsp;Acushnet Holdings Corp. | &nbsp;&nbsp; 9575527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7044 | &nbsp;&nbsp;Graham Holdings Co. - Class B | &nbsp;&nbsp; 7738538 |
| &nbsp;&nbsp;&nbsp;&nbsp;16981 | &nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp; 6852173 |
| &nbsp;&nbsp;&nbsp;&nbsp;301809 | &nbsp;&nbsp;Revolve Group, Inc.\* | &nbsp;&nbsp; 9111614 |
|  |  | &nbsp;&nbsp; 33277852 |
|  | &nbsp;&nbsp;**Consumer Staples — 7.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;56314 | &nbsp;&nbsp;Interparfums, Inc. | &nbsp;&nbsp; 4777117 |
| &nbsp;&nbsp;&nbsp;&nbsp;41717 | &nbsp;&nbsp;Marzetti Company (The) | &nbsp;&nbsp; 6859109 |
| &nbsp;&nbsp;&nbsp;&nbsp;55460 | &nbsp;&nbsp;PriceSmart, Inc. | &nbsp;&nbsp; 6803278 |
|  |  | &nbsp;&nbsp; 18439504 |
|  | &nbsp;&nbsp;**Real Estate — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;231774 | &nbsp;&nbsp;Alexander & Baldwin, Inc. REIT | &nbsp;&nbsp; 4783815 |
| &nbsp;&nbsp;&nbsp;&nbsp;291892 | &nbsp;&nbsp;Essential Properties Realty Trust, Inc. REIT | &nbsp;&nbsp; 8657517 |
| &nbsp;&nbsp;&nbsp;&nbsp;75772 | &nbsp;&nbsp;First Industrial Realty Trust, Inc. REIT | &nbsp;&nbsp; 4339462 |
|  |  | &nbsp;&nbsp; 17780794 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 97.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Materials — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;129465 | &nbsp;&nbsp;Ingevity Corp.\* | $7661739 |
| &nbsp;&nbsp;&nbsp;&nbsp;13848 | &nbsp;&nbsp;NewMarket Corp. | &nbsp;&nbsp; 9517177 |
| &nbsp;&nbsp;&nbsp;&nbsp;79541 | &nbsp;&nbsp;Tredegar Corp.\* | &nbsp;&nbsp; 571104 |
|  |  | &nbsp;&nbsp; 17750020 |
|  | &nbsp;&nbsp;**Health Care — 5.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;433572 | &nbsp;&nbsp;Certara, Inc.\* | &nbsp;&nbsp; 3819769 |
| &nbsp;&nbsp;&nbsp;&nbsp;129187 | &nbsp;&nbsp;Enovis Corp.\* | &nbsp;&nbsp; 3441542 |
| &nbsp;&nbsp;&nbsp;&nbsp;76348 | &nbsp;&nbsp;Haemonetics Corp.\* | &nbsp;&nbsp; 6119292 |
|  |  | &nbsp;&nbsp; 13380603 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $250778717 |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 2.2%** |  |
| 5574804 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 5574804 |
|  | &nbsp;&nbsp;**Total Investment Securities—100.0%<br> (Cost $213,652,338)** | $256353521 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.0%** | &nbsp;&nbsp; 1620 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $256355141 |

---

---

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

---

---

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

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$250778717* | *$—* | *$—* | *$250778717* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5574804* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*5574804* |
| *Total* | *$256353521* | *$—* | *$—* | *$256353521* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Small Cap Value Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.2%** |  |
|  | &nbsp;&nbsp;**Financials — 26.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;107653 | &nbsp;&nbsp;Associated Banc-Corp. | $2773141 |
| &nbsp;&nbsp;&nbsp;&nbsp;164015 | &nbsp;&nbsp;Chimera Investment Corp. REIT | &nbsp;&nbsp; 2038706 |
| &nbsp;&nbsp;&nbsp;&nbsp;10774 | &nbsp;&nbsp;City Holding Co. | &nbsp;&nbsp; 1284261 |
| &nbsp;&nbsp;&nbsp;&nbsp;131557 | &nbsp;&nbsp;Columbia Banking System, Inc. | &nbsp;&nbsp; 3677018 |
| &nbsp;&nbsp;&nbsp;&nbsp;53681 | &nbsp;&nbsp;FB Financial Corp. | &nbsp;&nbsp; 2995400 |
| &nbsp;&nbsp;&nbsp;&nbsp;27948 | &nbsp;&nbsp;First American Financial Corp. | &nbsp;&nbsp; 1717125 |
| &nbsp;&nbsp;&nbsp;&nbsp;154101 | &nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp; 3683014 |
| &nbsp;&nbsp;&nbsp;&nbsp;94359 | &nbsp;&nbsp;First Interstate BancSystem, Inc. - Class A | &nbsp;&nbsp; 3264821 |
| &nbsp;&nbsp;&nbsp;&nbsp;13737 | &nbsp;&nbsp;Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp; 2510712 |
| &nbsp;&nbsp;&nbsp;&nbsp;39764 | &nbsp;&nbsp;Independent Bank Corp. | &nbsp;&nbsp; 2905953 |
| &nbsp;&nbsp;&nbsp;&nbsp;84582 | &nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp; 2471486 |
| &nbsp;&nbsp;&nbsp;&nbsp;77582 | &nbsp;&nbsp;National Bank Holdings Corp. - Class A | &nbsp;&nbsp; 2948892 |
| &nbsp;&nbsp;&nbsp;&nbsp;37188 | &nbsp;&nbsp;NMI Holdings, Inc. - Class A\* | &nbsp;&nbsp; 1516899 |
| &nbsp;&nbsp;&nbsp;&nbsp;135308 | &nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp; 3018721 |
| &nbsp;&nbsp;&nbsp;&nbsp;107486 | &nbsp;&nbsp;Starwood Property Trust, Inc. REIT | &nbsp;&nbsp; 1935823 |
| &nbsp;&nbsp;&nbsp;&nbsp;49122 | &nbsp;&nbsp;Univest Financial Corp. | &nbsp;&nbsp; 1608254 |
| &nbsp;&nbsp;&nbsp;&nbsp;277722 | &nbsp;&nbsp;Valley National Bancorp | &nbsp;&nbsp; 3243793 |
| &nbsp;&nbsp;&nbsp;&nbsp;36095 | &nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp; 2688717 |
| &nbsp;&nbsp;&nbsp;&nbsp;20586 | &nbsp;&nbsp;Westamerica BanCorp | &nbsp;&nbsp; 984628 |
| &nbsp;&nbsp;&nbsp;&nbsp;25344 | &nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp; 3543598 |
|  |  | &nbsp;&nbsp; 50810962 |
|  | &nbsp;&nbsp;**Industrials — 20.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6175 | &nbsp;&nbsp;CACI International, Inc. - Class A\* | &nbsp;&nbsp; 3290102 |
| &nbsp;&nbsp;&nbsp;&nbsp;11394 | &nbsp;&nbsp;Clean Harbors, Inc.\* | &nbsp;&nbsp; 2671665 |
| &nbsp;&nbsp;&nbsp;&nbsp;36424 | &nbsp;&nbsp;Enerpac Tool Group Corp. | &nbsp;&nbsp; 1392854 |
| &nbsp;&nbsp;&nbsp;&nbsp;16140 | &nbsp;&nbsp;Enpro, Inc. | &nbsp;&nbsp; 3456058 |
| &nbsp;&nbsp;&nbsp;&nbsp;110330 | &nbsp;&nbsp;Enviri Corp.\* | &nbsp;&nbsp; 1977114 |
| &nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp;ExlService Holdings, Inc.\* | &nbsp;&nbsp; 1875848 |
| &nbsp;&nbsp;&nbsp;&nbsp;162431 | &nbsp;&nbsp;Gates Industrial Corp. PLC\* | &nbsp;&nbsp; 3487394 |
| &nbsp;&nbsp;&nbsp;&nbsp;30217 | &nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp; 2233036 |
| &nbsp;&nbsp;&nbsp;&nbsp;24668 | &nbsp;&nbsp;Huron Consulting Group, Inc.\* | &nbsp;&nbsp; 4265344 |
| &nbsp;&nbsp;&nbsp;&nbsp;15851 | &nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp; 2750307 |
| &nbsp;&nbsp;&nbsp;&nbsp;30126 | &nbsp;&nbsp;Korn Ferry | &nbsp;&nbsp; 1988918 |
| &nbsp;&nbsp;&nbsp;&nbsp;17109 | &nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp; 2400735 |
| &nbsp;&nbsp;&nbsp;&nbsp;16017 | &nbsp;&nbsp;Standex International Corp. | &nbsp;&nbsp; 3480174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8533 | &nbsp;&nbsp;Valmont Industries, Inc. | &nbsp;&nbsp; 3432996 |
|  |  | &nbsp;&nbsp; 38702545 |
|  | &nbsp;&nbsp;**Information Technology — 10.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;18969 | &nbsp;&nbsp;Belden, Inc. | &nbsp;&nbsp; 2210837 |
| &nbsp;&nbsp;&nbsp;&nbsp;90239 | &nbsp;&nbsp;Cohu, Inc.\* | &nbsp;&nbsp; 2099861 |
| &nbsp;&nbsp;&nbsp;&nbsp;253404 | &nbsp;&nbsp;Harmonic, Inc.\* | &nbsp;&nbsp; 2506166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9879 | &nbsp;&nbsp;Lumentum Holdings, Inc.\* | &nbsp;&nbsp; 3641301 |
| &nbsp;&nbsp;&nbsp;&nbsp;20439 | &nbsp;&nbsp;Rogers Corp.\* | &nbsp;&nbsp; 1871599 |
| &nbsp;&nbsp;&nbsp;&nbsp;18389 | &nbsp;&nbsp;Silicon Laboratories, Inc.\* | &nbsp;&nbsp; 2403442 |
| &nbsp;&nbsp;&nbsp;&nbsp;235956 | &nbsp;&nbsp;Viavi Solutions, Inc.\* | &nbsp;&nbsp; 4204736 |
|  |  | &nbsp;&nbsp; 18937942 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 8.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;15806 | &nbsp;&nbsp;Cheesecake Factory, Inc. (The)<sup>†</sup> | &nbsp;&nbsp; 797887 |
| &nbsp;&nbsp;&nbsp;&nbsp;16961 | &nbsp;&nbsp;Dorman Products, Inc.\* | &nbsp;&nbsp; 2089425 |
| &nbsp;&nbsp;&nbsp;&nbsp;63555 | &nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp; 1478925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5182 | &nbsp;&nbsp;Group 1 Automotive, Inc. | &nbsp;&nbsp; 2038081 |
| &nbsp;&nbsp;&nbsp;&nbsp;12459 | &nbsp;&nbsp;Installed Building Products, Inc. | &nbsp;&nbsp; 3231740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4581 | &nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp; 1848525 |
| &nbsp;&nbsp;&nbsp;&nbsp;37878 | &nbsp;&nbsp;Steven Madden Ltd. | &nbsp;&nbsp; 1577240 |
| &nbsp;&nbsp;&nbsp;&nbsp;15972 | &nbsp;&nbsp;Urban Outfitters, Inc.\* | &nbsp;&nbsp; 1202053 |
| &nbsp;&nbsp;&nbsp;&nbsp;49247 | &nbsp;&nbsp;Valvoline, Inc.\* | &nbsp;&nbsp; 1431118 |
| &nbsp;&nbsp;&nbsp;&nbsp;22573 | &nbsp;&nbsp;YETI Holdings, Inc.\* | &nbsp;&nbsp; 997049 |
|  |  | &nbsp;&nbsp; 16692043 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Common Stocks — 98.2% (Continued)** |  |
|  | &nbsp;&nbsp;**Health Care — 8.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;16055 | &nbsp;&nbsp;Addus HomeCare Corp.\* | $1724146 |
| &nbsp;&nbsp;&nbsp;&nbsp;31612 | &nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp; 3355298 |
| &nbsp;&nbsp;&nbsp;&nbsp;44484 | &nbsp;&nbsp;Envista Holdings Corp.\* | &nbsp;&nbsp; 965748 |
| &nbsp;&nbsp;&nbsp;&nbsp;25047 | &nbsp;&nbsp;Globus Medical, Inc. - Class A\* | &nbsp;&nbsp; 2186854 |
| &nbsp;&nbsp;&nbsp;&nbsp;52844 | &nbsp;&nbsp;Integra LifeSciences Holdings Corp.\* | &nbsp;&nbsp; 656322 |
| &nbsp;&nbsp;&nbsp;&nbsp;70866 | &nbsp;&nbsp;Option Care Health, Inc.\* | &nbsp;&nbsp; 2257791 |
| &nbsp;&nbsp;&nbsp;&nbsp;56179 | &nbsp;&nbsp;Prestige Consumer Healthcare, Inc.\* | &nbsp;&nbsp; 3465682 |
| &nbsp;&nbsp;&nbsp;&nbsp;27794 | &nbsp;&nbsp;QuidelOrtho Corp.\* | &nbsp;&nbsp; 793797 |
|  |  | &nbsp;&nbsp; 15405638 |
|  | &nbsp;&nbsp;**Real Estate — 7.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;37796 | &nbsp;&nbsp;Agree Realty Corp. REIT | &nbsp;&nbsp; 2722446 |
| &nbsp;&nbsp;&nbsp;&nbsp;86213 | &nbsp;&nbsp;COPT Defense Properties REIT | &nbsp;&nbsp; 2396722 |
| &nbsp;&nbsp;&nbsp;&nbsp;53356 | &nbsp;&nbsp;CTO Realty Growth, Inc. REIT | &nbsp;&nbsp; 982284 |
| &nbsp;&nbsp;&nbsp;&nbsp;58743 | &nbsp;&nbsp;National Storage Affiliates Trust REIT | &nbsp;&nbsp; 1657140 |
| &nbsp;&nbsp;&nbsp;&nbsp;261097 | &nbsp;&nbsp;Newmark Group, Inc. - Class A | &nbsp;&nbsp; 4527422 |
| &nbsp;&nbsp;&nbsp;&nbsp;65278 | &nbsp;&nbsp;STAG Industrial, Inc. REIT | &nbsp;&nbsp; 2399619 |
|  |  | &nbsp;&nbsp; 14685633 |
|  | &nbsp;&nbsp;**Materials — 5.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;67915 | &nbsp;&nbsp;Axalta Coating Systems Ltd.\* | &nbsp;&nbsp; 2194334 |
| &nbsp;&nbsp;&nbsp;&nbsp;33508 | &nbsp;&nbsp;Cabot Corp. | &nbsp;&nbsp; 2220910 |
| &nbsp;&nbsp;&nbsp;&nbsp;24742 | &nbsp;&nbsp;Ingevity Corp.\* | &nbsp;&nbsp; 1464231 |
| &nbsp;&nbsp;&nbsp;&nbsp;10392 | &nbsp;&nbsp;Innospec, Inc. | &nbsp;&nbsp; 795404 |
| &nbsp;&nbsp;&nbsp;&nbsp;79635 | &nbsp;&nbsp;O-I Glass, Inc.\* | &nbsp;&nbsp; 1175413 |
| &nbsp;&nbsp;&nbsp;&nbsp;40409 | &nbsp;&nbsp;Silgan Holdings, Inc.<sup>†</sup> | &nbsp;&nbsp; 1631311 |
|  |  | &nbsp;&nbsp; 9481603 |
|  | &nbsp;&nbsp;**Energy — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;40798 | &nbsp;&nbsp;Cactus, Inc. - Class A | &nbsp;&nbsp; 1863653 |
| &nbsp;&nbsp;&nbsp;&nbsp;45680 | &nbsp;&nbsp;Civitas Resources, Inc. | &nbsp;&nbsp; 1237471 |
| &nbsp;&nbsp;&nbsp;&nbsp;151269 | &nbsp;&nbsp;Expro Group Holdings NV\* | &nbsp;&nbsp; 2019441 |
| &nbsp;&nbsp;&nbsp;&nbsp;208794 | &nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp; 2929380 |
|  |  | &nbsp;&nbsp; 8049945 |
|  | &nbsp;&nbsp;**Utilities — 4.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;20521 | &nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp; 1424568 |
| &nbsp;&nbsp;&nbsp;&nbsp;24213 | &nbsp;&nbsp;IDACORP, Inc. | &nbsp;&nbsp; 3064397 |
| &nbsp;&nbsp;&nbsp;&nbsp;34601 | &nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp; 1660502 |
| &nbsp;&nbsp;&nbsp;&nbsp;17160 | &nbsp;&nbsp;Spire, Inc. | &nbsp;&nbsp; 1419132 |
|  |  | &nbsp;&nbsp; 7568599 |
|  | &nbsp;&nbsp;**Consumer Staples — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12976 | &nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp; 1430734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 | &nbsp;&nbsp;Marzetti Company (The) | &nbsp;&nbsp; 1351697 |
| &nbsp;&nbsp;&nbsp;&nbsp;10187 | &nbsp;&nbsp;MGP Ingredients, Inc. | &nbsp;&nbsp; 247544 |
| &nbsp;&nbsp;&nbsp;&nbsp;26225 | &nbsp;&nbsp;Performance Food Group Co.\* | &nbsp;&nbsp; 2358152 |
| &nbsp;&nbsp;&nbsp;&nbsp;47977 | &nbsp;&nbsp;TreeHouse Foods, Inc.\* | &nbsp;&nbsp; 1131777 |
|  |  | &nbsp;&nbsp; 6519904 |
|  | &nbsp;&nbsp;**Total Common Stocks** | $186854814 |
|  | &nbsp;&nbsp;**Exchange-Traded Fund — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5169 | &nbsp;&nbsp;iShares Russell 2000 Value ETF | &nbsp;&nbsp; 936674 |

---

------

Touchstone Small Cap Value Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Short-Term Investment Funds — 2.6%** |  |
| 3523724 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | $3523724 |
| 1457589 | &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 3.68%<sup>∞Ω\*\*</sup> | &nbsp;&nbsp; 1457589 |
|  | &nbsp;&nbsp;**Total Short-Term Investment Funds** | &nbsp;&nbsp;&nbsp; $4981313 |
|  | &nbsp;&nbsp;**Total Investment Securities—101.3%<br> (Cost $161,808,311)** | $192772801 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets — (1.3%)** | &nbsp;&nbsp;&nbsp; (2415758) |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $190357043 |

---

---

| | |
|:---|:---|
| *\** | *Non-income producing security.* |
| *\*\** | *Represents collateral for securities loaned.* |
| *†* | *All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2025 was $1,428,981.* |
| *∞* | *Open-End Fund.* |

---

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

---

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

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Common Stocks* | *$186854814* | *$—* | *$—* | *$186854814* |
| *Exchange-Traded Fund* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*936674* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*936674* |
| *Short-Term Investment Funds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4981313* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4981313* |
| *Total* | *$192772801* | *$—* | *$—* | *$192772801* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone Ultra Short Duration Fixed Income Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 33.0%** | &nbsp;&nbsp;**Asset-Backed Securities — 33.0%** |
| $6255000 | &nbsp;&nbsp;Affirm Asset Securitization Trust, Ser 2025-X2, Class B, 144a, 4.560%, 10/15/30 | $6265480 |
| &nbsp;&nbsp; 62289 | &nbsp;&nbsp;Alinea CLO Ltd. (Cayman Islands), Ser 2018-1A, Class AR, 144a, (TSFR3M + 0.900%), 4.784%, 7/20/31<sup>(A)</sup> | &nbsp;&nbsp; 62293 |
| &nbsp;&nbsp; 860510 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2022-3, Class D, 144a, 5.830%, 10/13/28 | &nbsp;&nbsp; 861589 |
| &nbsp;&nbsp; 5875432 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2022-4, Class D, 144a, 8.000%, 2/15/29 | &nbsp;&nbsp; 5924229 |
| &nbsp;&nbsp; 1830 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-1, Class C, 144a, 5.590%, 4/12/29 | &nbsp;&nbsp; 1830 |
| &nbsp;&nbsp; 5485000 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-1, Class D, 144a, 6.350%, 4/12/29 | &nbsp;&nbsp; 5531144 |
| &nbsp;&nbsp; 788077 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-3, Class C, 144a, 6.440%, 10/12/29 | &nbsp;&nbsp; 791496 |
| &nbsp;&nbsp;11575000 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-2, Class C, 144a, 6.240%, 4/12/30 | &nbsp;&nbsp; 11670430 |
| &nbsp;&nbsp; 3475468 | &nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-2, Class A, 144a, 4.810%, 9/12/28 | &nbsp;&nbsp; 3481687 |
| &nbsp;&nbsp; 8063180 | &nbsp;&nbsp;Americredit Automobile Receivables Trust, Ser 2022-1, Class C, 2.980%, 9/20/27 | &nbsp;&nbsp; 8025339 |
| &nbsp;&nbsp; 109741 | &nbsp;&nbsp;AmeriCredit Automobile Receivables Trust, Ser 2021-2, Class C, 1.010%, 1/19/27 | &nbsp;&nbsp; 109571 |
| &nbsp;&nbsp; 7700000 | &nbsp;&nbsp;Apidos CLO XXIV (Cayman Islands), Ser 2016-24A, Class A2LX, 144a, (TSFR3M + 1.612%), 5.496%, 10/20/30<sup>(A)</sup> | &nbsp;&nbsp; 7712820 |
| &nbsp;&nbsp; 7802663 | &nbsp;&nbsp;Arbys Funding LLC, Ser 2020-1A, Class A2, 144a, 3.237%, 7/30/50 | &nbsp;&nbsp; 7600240 |
| &nbsp;&nbsp; 1596508 | &nbsp;&nbsp;Asset Backed Securities Corp. Home Equity Loan Trust Series OOMC, Ser 2006-HE3, Class A5, (TSFR1M + 0.654%), 2.885%, 3/25/36<sup>(A)</sup> | &nbsp;&nbsp; 1577023 |
| &nbsp;&nbsp; 1743333 | &nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC, Ser 2020-2A, Class A, 144a, 2.020%, 2/20/27 | &nbsp;&nbsp; 1739785 |
| &nbsp;&nbsp; 1284026 | &nbsp;&nbsp;Bain Capital Credit CLO (Cayman Islands), Ser 2018-2A, Class A1R, 144a, (TSFR3M + 1.080%), 4.964%, 7/19/31<sup>(A)</sup> | &nbsp;&nbsp; 1284008 |
| &nbsp;&nbsp; 8007000 | &nbsp;&nbsp;BCRED BSL Static CLO Ltd. (Cayman Islands), Ser 2025-1A, Class AR, 144a, (TSFR3M + 1.250%), 5.541%, 7/24/35<sup>(A)</sup> | &nbsp;&nbsp; 8008858 |
| &nbsp;&nbsp; 9845000 | &nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-1, Class C, 5.150%, 12/17/29 | &nbsp;&nbsp; 9952422 |
| &nbsp;&nbsp; 9935616 | &nbsp;&nbsp;Carlyle US CLO Ltd. (Cayman Islands), Ser 2019-1A, Class A1A2, 144a, (TSFR3M + 0.950%), 4.834%, 4/20/31<sup>(A)</sup> | &nbsp;&nbsp; 9939590 |
| &nbsp;&nbsp; 5475585 | &nbsp;&nbsp;CIFC Funding Ltd. (Cayman Islands), Ser 2016-1A, Class AR3, 144a, (TSFR3M + 1.000%), 4.870%, 10/21/31<sup>(A)</sup> | &nbsp;&nbsp; 5476494 |
| &nbsp;&nbsp; 441353 | &nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2023-1A, Class A, 144a, 6.480%, 3/15/33 | &nbsp;&nbsp; 441711 |
| &nbsp;&nbsp; 1228766 | &nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2023-2A, Class A, 144a, 5.920%, 5/16/33 | &nbsp;&nbsp; 1230829 |
| &nbsp;&nbsp; 921653 | &nbsp;&nbsp;Dewolf Park CLO Ltd., Ser 2017-1A, Class AR, 144a, (TSFR3M + 1.182%), 5.086%, 10/15/30<sup>(A)</sup> | &nbsp;&nbsp; 921718 |
| &nbsp;&nbsp; 8300000 | &nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Class A2, 4.290%, 10/16/28 | &nbsp;&nbsp; 8305876 |
| &nbsp;&nbsp; 5127737 | &nbsp;&nbsp;Dryden 53 CLO Ltd. (Cayman Islands), Ser 2017-53A, Class AR, 144a, (TSFR3M + 1.000%), 4.905%, 1/15/31<sup>(A)</sup> | &nbsp;&nbsp; 5128635 |
| &nbsp;&nbsp; 2495000 | &nbsp;&nbsp;DT Auto Owner Trust, Ser 2021-3A, Class E, 144a, 2.650%, 9/15/28 | &nbsp;&nbsp; 2488209 |
| &nbsp;&nbsp; 4983000 | &nbsp;&nbsp;Elmwood CLO X Ltd. (Cayman Islands), Ser 2021-3A, Class X, 144a, (TSFR3M + 0.950%), 4.834%, 7/20/38<sup>(A)</sup> | &nbsp;&nbsp; 4982870 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 33.0% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 33.0% (Continued)** |
| $2263150 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-3A, Class D, 1.550%, 6/15/27 | $2246822 |
| &nbsp;&nbsp; 577850 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2022-1A, Class D, 3.020%, 6/15/28 | &nbsp;&nbsp; 575189 |
| &nbsp;&nbsp; 4147481 | &nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2023-4A, Class C, 6.510%, 8/15/28 | &nbsp;&nbsp; 4171339 |
| &nbsp;&nbsp; 797167 | &nbsp;&nbsp;FNA VI LLC, Ser 2021-1A, Class A, 144a, 1.350%, 1/10/32 | &nbsp;&nbsp; 746758 |
| &nbsp;&nbsp; 77787 | &nbsp;&nbsp;FNMA REMIC, Ser 2001-W4, Class AF5, 5.614%, 2/25/32<sup>(A)(B)</sup> | &nbsp;&nbsp; 79028 |
| &nbsp;&nbsp; 2378901 | &nbsp;&nbsp;Fortress Credit Opportunities XXIX CLO Ltd. (Cayman Islands), Ser 2025-29A, Class A1, 144a, (TSFR3M + 1.250%), 5.134%, 4/20/33<sup>(A)</sup> | &nbsp;&nbsp; 2378257 |
| &nbsp;&nbsp; 8340000 | &nbsp;&nbsp;Fortress Credit Opportunities XXXV CLO Ltd. (Cayman Islands), Ser 2025-35A, Class A1, 144a, (TSFR3M + 1.400%), 5.727%, 7/20/33<sup>(A)</sup> | &nbsp;&nbsp; 8342919 |
| &nbsp;&nbsp; 644811 | &nbsp;&nbsp;Foursight Capital Automobile Receivables Trust, Ser 2023-2, Class A2, 144a, 5.990%, 5/15/28 | &nbsp;&nbsp; 646993 |
| &nbsp;&nbsp; 1311885 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2020-3A, Class E, 144a, 4.310%, 7/15/27 | &nbsp;&nbsp; 1311917 |
| &nbsp;&nbsp; 1225000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2021-2A, Class E, 144a, 2.870%, 5/15/28 | &nbsp;&nbsp; 1223673 |
| &nbsp;&nbsp; 3060806 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-2A, Class D, 144a, 6.150%, 4/17/28 | &nbsp;&nbsp; 3085463 |
| &nbsp;&nbsp; 6448669 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-3A, Class D, 144a, 6.420%, 6/15/28 | &nbsp;&nbsp; 6510245 |
| &nbsp;&nbsp; 761000 | &nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-3A, Class C, 144a, 5.210%, 2/18/31 | &nbsp;&nbsp; 770182 |
| &nbsp;&nbsp; 2823820 | &nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2024-3A, Class A2, 144a, 5.590%, 10/15/29 | &nbsp;&nbsp; 2853744 |
| &nbsp;&nbsp; 3800000 | &nbsp;&nbsp;Golub Capital Partners CLO 61M, Ser 2022-61A, Class A1B, 144a, 4.550%, 7/25/35 | &nbsp;&nbsp; 3808751 |
| &nbsp;&nbsp; 7772925 | &nbsp;&nbsp;Goto Foods Funding LLC, Ser 2017-1A, Class A2II, 144a, 5.093%, 4/30/47 | &nbsp;&nbsp; 7756268 |
| &nbsp;&nbsp; 4850000 | &nbsp;&nbsp;GreatAmerica Leasing Receivables Funding LLC Series, Ser 2022-1, Class C, 144a, 5.980%, 7/15/30 | &nbsp;&nbsp; 4916578 |
| &nbsp;&nbsp; 6444000 | &nbsp;&nbsp;Greywolf CLO IV Ltd. (Cayman Islands), Ser 2019-1A, Class A1R2, 144a, (TSFR3M + 1.240%), 5.122%, 4/17/34<sup>(A)</sup> | &nbsp;&nbsp; 6439051 |
| &nbsp;&nbsp; 618800 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2020-AA, Class A, 144a, 2.740%, 2/25/39 | &nbsp;&nbsp; 610854 |
| &nbsp;&nbsp; 773500 | &nbsp;&nbsp;Hilton Grand Vacations Trust, Ser 2020-AA, Class B, 144a, 4.220%, 2/25/39 | &nbsp;&nbsp; 771870 |
| &nbsp;&nbsp; 7724409 | &nbsp;&nbsp;HPEFS Equipment Trust, Ser 2023-2A, Class C, 144a, 6.480%, 1/21/31 | &nbsp;&nbsp; 7745812 |
| &nbsp;&nbsp; 5725000 | &nbsp;&nbsp;HPEFS Equipment Trust, Ser 2023-2A, Class D, 144a, 6.970%, 7/21/31 | &nbsp;&nbsp; 5784401 |
| &nbsp;&nbsp; 4881563 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49 | &nbsp;&nbsp; 4843813 |
| &nbsp;&nbsp; 7862500 | &nbsp;&nbsp;Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | &nbsp;&nbsp; 7611097 |
| &nbsp;&nbsp; 8604750 | &nbsp;&nbsp;Jimmy Johns Funding LLC, Ser 2017-1A, Class A2II, 144a, 4.846%, 7/30/47 | &nbsp;&nbsp; 8598355 |
| &nbsp;&nbsp; 2667536 | &nbsp;&nbsp;M&T Equipment Notes, Ser 2024-1A, Class A2, 144a, 4.990%, 8/18/31 | &nbsp;&nbsp; 2675911 |
| &nbsp;&nbsp; 5104038 | &nbsp;&nbsp;Madison Park Funding XIV Ltd. (Cayman Islands), Ser 2014-14A, Class AR4, 144a, (TSFR3M + 0.960%), 4.817%, 10/22/30<sup>(A)</sup> | &nbsp;&nbsp; 5105728 |
| &nbsp;&nbsp; 2248750 | &nbsp;&nbsp;Madison Park Funding XXVIII Ltd. (Cayman Islands), Ser 2018-28A, Class X, 144a, (TSFR3M + 0.900%), 4.805%, 1/15/38<sup>(A)</sup> | &nbsp;&nbsp; 2248824 |
| &nbsp;&nbsp; 1735627 | &nbsp;&nbsp;MVW LLC, Ser 2020-1A, Class A, 144a, 1.740%, 10/20/37 | &nbsp;&nbsp; 1709815 |

---

------

Touchstone Ultra Short Duration Fixed Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 33.0% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 33.0% (Continued)** |
| $1410125 | &nbsp;&nbsp;Neighborly Issuer, Ser 2023-1A, Class A2, 144a, 7.308%, 1/30/53 | $1429101 |
| &nbsp;&nbsp; 2342472 | &nbsp;&nbsp;Octagon Investment Partners XXI Ltd. (Cayman Islands), Ser 2014-1A, Class AAR4, 144a, (TSFR3M + 0.810%), 4.663%, 2/14/31<sup>(A)</sup> | &nbsp;&nbsp; 2342631 |
| &nbsp;&nbsp; 9470000 | &nbsp;&nbsp;OneMain Direct Auto Receivables Trust, Ser 2022-1A, Class B, 144a, 5.070%, 6/14/29 | &nbsp;&nbsp; 9498814 |
| &nbsp;&nbsp;13460000 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2019-2A, Class A, 144a, 3.140%, 10/14/36 | &nbsp;&nbsp; 13270277 |
| &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2021-1A, Class A1, 144a, 1.550%, 6/16/36 | &nbsp;&nbsp; 3406270 |
| &nbsp;&nbsp; 591710 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2022-2A, Class A, 144a, 4.890%, 10/14/34 | &nbsp;&nbsp; 592175 |
| &nbsp;&nbsp; 761010 | &nbsp;&nbsp;OneMain Financial Issuance Trust, Ser 2022-3A, Class A, 144a, 5.940%, 5/15/34 | &nbsp;&nbsp; 763748 |
| &nbsp;&nbsp;11115000 | &nbsp;&nbsp;Palmer Square Loan Funding Ltd. (Cayman Islands), Ser 2025-2A, Class A1, 144a, (TSFR3M + 0.940%), 5.228%, 7/15/33<sup>(A)</sup> | &nbsp;&nbsp; 11117323 |
| &nbsp;&nbsp; 4799881 | &nbsp;&nbsp;Post Road Equipment Finance LLC, Ser 2025-1A, Class A2, 144a, 4.900%, 5/15/31 | &nbsp;&nbsp; 4837341 |
| &nbsp;&nbsp; 2366975 | &nbsp;&nbsp;Prestige Auto Receivables Trust, Ser 2025-1A, Class A2, 144a, 4.870%, 12/15/27 | &nbsp;&nbsp; 2367399 |
| &nbsp;&nbsp; 2860000 | &nbsp;&nbsp;Regatta XX Funding Ltd. (Cayman Islands), Ser 2021-2A, Class X, 144a, (TSFR3M + 0.970%), 4.875%, 1/15/38<sup>(A)</sup> | &nbsp;&nbsp; 2860014 |
| &nbsp;&nbsp; 400710 | &nbsp;&nbsp;Romark WM-R Ltd. (Cayman Islands), Ser 2018-1A, Class A1, 144a, (TSFR3M +1.292%), 5.176%, 4/20/31<sup>(A)</sup> | &nbsp;&nbsp; 400730 |
| &nbsp;&nbsp;10658655 | &nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2022-4, Class C, 5.000%, 11/15/29 | &nbsp;&nbsp; 10703074 |
| &nbsp;&nbsp; 599172 | &nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2022-7, Class B, 5.950%, 1/17/28 | &nbsp;&nbsp; 599749 |
| &nbsp;&nbsp; 1077135 | &nbsp;&nbsp;SCF Equipment Leasing LLC, Ser 2024-1A, Class A2, 144a, 5.880%, 11/20/29 | &nbsp;&nbsp; 1082011 |
| &nbsp;&nbsp; 2527213 | &nbsp;&nbsp;SCF Equipment Leasing LLC, Ser 2025-1A, Class A2, 144a, 4.820%, 7/22/30 | &nbsp;&nbsp; 2535683 |
| &nbsp;&nbsp; 1222662 | &nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC, Ser 2024-3A, Class B, 144a, 4.980%, 8/20/41 | &nbsp;&nbsp; 1227523 |
| &nbsp;&nbsp; 952871 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2019-HY1, Class A1, 144a, (TSFR1M + 1.114%), 4.846%, 10/25/48<sup>(A)</sup> | &nbsp;&nbsp; 953796 |
| &nbsp;&nbsp; 4900000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2022-3A, Class D, 144a, 6.680%, 4/17/28 | &nbsp;&nbsp; 4955887 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-3A, Class D, 144a, 6.470%, 3/15/29 | &nbsp;&nbsp; 1022676 |
| &nbsp;&nbsp; 5750000 | &nbsp;&nbsp;Woodmont LP (Cayman Islands), Ser 2025-14A, Class A1, 144a, (TSFR3M + 1.250%), 4.986%, 1/20/34<sup>(A)</sup> | &nbsp;&nbsp; 5751369 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | $306803424 |
|  | &nbsp;&nbsp;**Corporate Bonds — 30.8%** |  |
|  | &nbsp;&nbsp;**Financials — 8.2%** |  |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Ares Capital Corp., 2.150%, 7/15/26 | &nbsp;&nbsp; 1480721 |
| &nbsp;&nbsp; 5739000 | &nbsp;&nbsp;Ares Capital Corp., 3.875%, 1/15/26 | &nbsp;&nbsp; 5738565 |
| &nbsp;&nbsp; 8858000 | &nbsp;&nbsp;Barclays PLC (United Kingdom), 5.200%, 5/12/26 | &nbsp;&nbsp; 8896627 |
| &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;Citibank NA, (SOFR + 0.708%), 4.532%, 8/6/26<sup>(A)</sup> | &nbsp;&nbsp; 3957087 |
| &nbsp;&nbsp; 7955000 | &nbsp;&nbsp;Citizens Financial Group, Inc., 2.850%, 7/27/26 | &nbsp;&nbsp; 7899310 |
| &nbsp;&nbsp; 2038000 | &nbsp;&nbsp;Comerica, Inc., 3.800%, 7/22/26 | &nbsp;&nbsp; 2031083 |
| &nbsp;&nbsp; 6730000 | &nbsp;&nbsp;Fifth Third Bank NA, (SOFR + 0.810%), 4.697%, 1/28/28<sup>(A)</sup> | &nbsp;&nbsp; 6742983 |
| &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;Huntington National Bank (The), 4.871%, 4/12/28 | &nbsp;&nbsp; 1764571 |
| &nbsp;&nbsp; 6298000 | &nbsp;&nbsp;Jackson National Life Global Funding, 144a, 4.900%, 1/13/27 | &nbsp;&nbsp; 6348939 |
| &nbsp;&nbsp; 1325000 | &nbsp;&nbsp;JPMorgan Chase & Co., 4.125%, 12/15/26 | &nbsp;&nbsp; 1327494 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 30.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Financials — 8.2% (Continued)** |  |
| $2982000 | &nbsp;&nbsp;JPMorgan Chase & Co., Ser B, (TSFR3M + 0.762%), 4.615%, 2/1/27<sup>(A)</sup> | $2960251 |
| &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;Nomura Holdings, Inc. (Japan), 2.329%, 1/22/27 | &nbsp;&nbsp; 1424525 |
| &nbsp;&nbsp;10300000 | &nbsp;&nbsp;Ontario Teachers' Cadillac Fairview Properties Trust (Canada), 144a, 3.875%, 3/20/27 | &nbsp;&nbsp; 10282722 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;PNC Capital Trust, (TSFR3M + 0.832%), 4.624%, 6/1/28<sup>(A)</sup> | &nbsp;&nbsp; 2952447 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Reliance Standard Life Global Funding II, 144a, 2.750%, 1/21/27 | &nbsp;&nbsp; 1970026 |
| &nbsp;&nbsp;11050000 | &nbsp;&nbsp;Truist Financial Corp., (TSFR3M + 0.912%), 4.635%, 3/15/28<sup>(A)</sup> | &nbsp;&nbsp; 10828172 |
|  |  | &nbsp;&nbsp; 76605523 |
|  | &nbsp;&nbsp;**Industrials — 5.6%** |  |
| &nbsp;&nbsp;11000000 | &nbsp;&nbsp;Berry Global, Inc., 1.570%, 1/15/26 | &nbsp;&nbsp; 10988990 |
| &nbsp;&nbsp; 5882000 | &nbsp;&nbsp;CNH Industrial Capital LLC, 4.500%, 10/8/27 | &nbsp;&nbsp; 5918299 |
| &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;Graphic Packaging International LLC, 144a, 1.512%, 4/15/26 | &nbsp;&nbsp; 2774444 |
| &nbsp;&nbsp; 4250000 | &nbsp;&nbsp;L3Harris Technologies, Inc., 5.400%, 1/15/27 | &nbsp;&nbsp; 4312066 |
| &nbsp;&nbsp; 3800000 | &nbsp;&nbsp;L3Harris Technologies, Inc., 7.000%, 1/15/26 | &nbsp;&nbsp; 3802620 |
| &nbsp;&nbsp; 9156000 | &nbsp;&nbsp;Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 3.400%, 11/15/26 | &nbsp;&nbsp; 9095064 |
| &nbsp;&nbsp; 9595000 | &nbsp;&nbsp;Sealed Air Corp., 144a, 1.573%, 10/15/26 | &nbsp;&nbsp; 9390539 |
| &nbsp;&nbsp; 6276000 | &nbsp;&nbsp;Silgan Holdings, Inc., 144a, 1.400%, 4/1/26 | &nbsp;&nbsp; 6222844 |
|  |  | &nbsp;&nbsp; 52504866 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 4.8%** |  |
| &nbsp;&nbsp; 8808000 | &nbsp;&nbsp;Daimler Truck Finance North America LLC (Germany), 144a, 4.300%, 8/12/27 | &nbsp;&nbsp; 8847947 |
| &nbsp;&nbsp;10231000 | &nbsp;&nbsp;General Motors Financial Co., Inc., 5.400%, 4/6/26 | &nbsp;&nbsp; 10266635 |
| &nbsp;&nbsp; 5350000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.250%, 1/8/27 | &nbsp;&nbsp; 5411448 |
| &nbsp;&nbsp; 3624000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.300%, 3/19/27 | &nbsp;&nbsp; 3675609 |
| &nbsp;&nbsp; 3510000 | &nbsp;&nbsp;Hyundai Capital America, 144a, 5.500%, 3/30/26 | &nbsp;&nbsp; 3521342 |
| &nbsp;&nbsp; 4780000 | &nbsp;&nbsp;Mercedes-Benz Finance North America LLC (Germany), 144a, (SOFR + 0.630%), 4.522%, 7/31/26<sup>(A)</sup> | &nbsp;&nbsp; 4789006 |
| &nbsp;&nbsp; 3615000 | &nbsp;&nbsp;Volkswagen Group of America Finance LLC (Germany), 144a, 4.850%, 8/15/27 | &nbsp;&nbsp; 3649962 |
| &nbsp;&nbsp; 1932000 | &nbsp;&nbsp;Volkswagen Group of America Finance LLC (Germany), 144a, 5.400%, 3/20/26 | &nbsp;&nbsp; 1937013 |
| &nbsp;&nbsp; 2405000 | &nbsp;&nbsp;Volkswagen Group of America Finance LLC (Germany), 144a, 5.700%, 9/12/26 | &nbsp;&nbsp; 2430110 |
|  |  | &nbsp;&nbsp; 44529072 |
|  | &nbsp;&nbsp;**Health Care — 2.6%** |  |
| &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;Elevance Health, Inc., 4.500%, 10/30/26 | &nbsp;&nbsp; 4017270 |
| &nbsp;&nbsp;14650000 | &nbsp;&nbsp;HCA, Inc., 5.250%, 6/15/26 | &nbsp;&nbsp; 14661444 |
| &nbsp;&nbsp; 5045000 | &nbsp;&nbsp;UnitedHealth Group, Inc., (SOFR + 0.500%), 4.459%, 7/15/26<sup>(A)</sup> | &nbsp;&nbsp; 5053063 |
|  |  | &nbsp;&nbsp; 23731777 |
|  | &nbsp;&nbsp;**Consumer Staples — 2.3%** |  |
| &nbsp;&nbsp;15528000 | &nbsp;&nbsp;Global Payments, Inc., 4.800%, 4/1/26 | &nbsp;&nbsp; 15531165 |
| &nbsp;&nbsp; 5896000 | &nbsp;&nbsp;Triton Container International Ltd. (Bermuda), 144a, 2.050%, 4/15/26 | &nbsp;&nbsp; 5849813 |
|  |  | &nbsp;&nbsp; 21380978 |
|  | &nbsp;&nbsp;**Real Estate — 2.0%** |  |
| &nbsp;&nbsp; 4580000 | &nbsp;&nbsp;American Tower Corp. REIT, 3.125%, 1/15/27 | &nbsp;&nbsp; 4536869 |
| &nbsp;&nbsp; 3578000 | &nbsp;&nbsp;Boston Properties LP REIT, 2.750%, 10/1/26 | &nbsp;&nbsp; 3540764 |
| &nbsp;&nbsp; 5500000 | &nbsp;&nbsp;Public Storage Operating Co. REIT, (SOFR + 0.700%), 4.646%, 4/16/27<sup>(A)</sup> | &nbsp;&nbsp; 5518072 |
| &nbsp;&nbsp; 3588000 | &nbsp;&nbsp;SBA Tower Trust REIT, 144a, 1.884%, 1/15/26 | &nbsp;&nbsp; 3583998 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;WEA Finance LLC REIT (France), 144a, 2.875%, 1/15/27 | &nbsp;&nbsp; 984327 |
|  |  | &nbsp;&nbsp; 18164030 |

---

------

Touchstone Ultra Short Duration Fixed Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 30.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Energy — 1.7%** |  |
| $3263000 | &nbsp;&nbsp;Continental Resources, Inc., 144a, 2.268%, 11/15/26 | $3196278 |
| &nbsp;&nbsp; 4705000 | &nbsp;&nbsp;MPLX LP, 1.750%, 3/1/26 | &nbsp;&nbsp; 4686460 |
| &nbsp;&nbsp; 4235000 | &nbsp;&nbsp;ONEOK, Inc., 4.000%, 7/13/27 | &nbsp;&nbsp; 4230640 |
| &nbsp;&nbsp; 3930000 | &nbsp;&nbsp;ONEOK, Inc., 5.550%, 11/1/26 | &nbsp;&nbsp; 3972573 |
|  |  | &nbsp;&nbsp; 16085951 |
|  | &nbsp;&nbsp;**Utilities — 1.7%** |  |
| &nbsp;&nbsp; 3057000 | &nbsp;&nbsp;Brooklyn Union Gas Co. (The), 144a, 3.407%, 3/10/26 | &nbsp;&nbsp; 3053088 |
| &nbsp;&nbsp; 5747000 | &nbsp;&nbsp;ITC Holdings Corp., 3.250%, 6/30/26 | &nbsp;&nbsp; 5719766 |
| &nbsp;&nbsp; 5012000 | &nbsp;&nbsp;KeySpan Gas East Corp., 144a, 2.742%, 8/15/26 | &nbsp;&nbsp; 4960240 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Vistra Operations Co. LLC, 144a, 5.050%, 12/30/26 | &nbsp;&nbsp; 2014274 |
|  |  | &nbsp;&nbsp; 15747368 |
|  | &nbsp;&nbsp;**Materials — 1.5%** |  |
| &nbsp;&nbsp; 7768000 | &nbsp;&nbsp;Nutrien Ltd. (Canada), 4.000%, 12/15/26 | &nbsp;&nbsp; 7765670 |
| &nbsp;&nbsp; 6068000 | &nbsp;&nbsp;Yara International ASA (Brazil), 144a, 3.800%, 6/6/26 | &nbsp;&nbsp; 6050257 |
|  |  | &nbsp;&nbsp; 13815927 |
|  | &nbsp;&nbsp;**Information Technology — 0.4%** |  |
| &nbsp;&nbsp; 3959000 | &nbsp;&nbsp;Kyndryl Holdings, Inc., 2.050%, 10/15/26 | &nbsp;&nbsp; 3894181 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $286459673 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 20.5%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 20.5%** |
| &nbsp;&nbsp; 5332332 | &nbsp;&nbsp;1166 Avenue of the Americas Commercial Mortgage Trust II, Ser 2005-C6A, Class A2, 144a, 5.690%, 10/13/37 | &nbsp;&nbsp; 5402835 |
| &nbsp;&nbsp; 4378913 | &nbsp;&nbsp;BANK, Ser 2017-BNK6, Class AS, 3.741%, 7/15/60<sup>(A)(B)</sup> | &nbsp;&nbsp; 4305314 |
| &nbsp;&nbsp; 3330000 | &nbsp;&nbsp;Bank of America Merrill Lynch Commercial Mortgage Trust, Ser 2016-UB10, Class AS, 3.385%, 7/15/49 | &nbsp;&nbsp; 3293788 |
| &nbsp;&nbsp; 849227 | &nbsp;&nbsp;BDS Ltd. (Cayman Islands), Ser 2021-FL10, Class A, 144a, (TSFR1M + 1.464%), 5.199%, 12/16/36<sup>(A)</sup> | &nbsp;&nbsp; 849567 |
| &nbsp;&nbsp; 5495000 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-21M, Class B, 144a, (TSFR1M + 1.092%), 4.842%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 5491694 |
| &nbsp;&nbsp; 7496300 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-21M, Class C, 144a, (TSFR1M + 1.291%), 5.041%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 7489544 |
| &nbsp;&nbsp; 3900810 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-ACNT, Class A, 144a, (TSFR1M + 0.964%), 4.714%, 11/15/38<sup>(A)</sup> | &nbsp;&nbsp; 3898455 |
| &nbsp;&nbsp; 773530 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-XL2, Class A, 144a, (TSFR1M + 0.803%), 4.553%, 10/15/38<sup>(A)</sup> | &nbsp;&nbsp; 773050 |
| &nbsp;&nbsp; 980000 | &nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-LP2, Class B, 144a, (TSFR1M + 1.312%), 5.062%, 2/15/39<sup>(A)</sup> | &nbsp;&nbsp; 978778 |
| &nbsp;&nbsp; 1690658 | &nbsp;&nbsp;BX Trust, Ser 2021-RISE, Class B, 144a, (TSFR1M + 1.364%), 5.114%, 11/15/36<sup>(A)</sup> | &nbsp;&nbsp; 1689096 |
| &nbsp;&nbsp; 2783928 | &nbsp;&nbsp;BX Trust, Ser 2021-SDMF, Class B, 144a, (TSFR1M + 0.852%), 4.602%, 9/15/34<sup>(A)</sup> | &nbsp;&nbsp; 2773970 |
| &nbsp;&nbsp; 3257196 | &nbsp;&nbsp;BX Trust, Ser 2021-SDMF, Class C, 144a, (TSFR1M + 1.002%), 4.752%, 9/15/34<sup>(A)</sup> | &nbsp;&nbsp; 3245544 |
| &nbsp;&nbsp; 2115786 | &nbsp;&nbsp;BX Trust, Ser 2021-SDMF, Class D, 144a, (TSFR1M + 1.501%), 5.251%, 9/15/34<sup>(A)</sup> | &nbsp;&nbsp; 2108215 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;BX Trust, Ser 2022-LBA6, Class B, 144a, (TSFR1M + 1.300%), 5.050%, 1/15/39<sup>(A)</sup> | &nbsp;&nbsp; 999382 |
| &nbsp;&nbsp; 530589 | &nbsp;&nbsp;BXMT Ltd. (Cayman Islands), Ser 2020-FL2, Class A, 144a, (TSFR1M + 1.014%), 5.000%, 2/15/38<sup>(A)</sup> | &nbsp;&nbsp; 527964 |
| &nbsp;&nbsp; 8495000 | &nbsp;&nbsp;BXMT Ltd. (Cayman Islands), Ser 2020-FL2, Class AS, 144a, (TSFR1M + 1.264%), 5.250%, 2/15/38<sup>(A)</sup> | &nbsp;&nbsp; 8465450 |
| &nbsp;&nbsp; 4958491 | &nbsp;&nbsp;BXP Trust, Ser 2017-CQHP, Class A, 144a, (TSFR1M + 0.897%), 4.648%, 11/15/34<sup>(A)</sup> | &nbsp;&nbsp; 4831889 |
| &nbsp;&nbsp; 1036164 | &nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2016-C4, Class A4, 3.283%, 5/10/58 | &nbsp;&nbsp; 1034619 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 20.5% (Continued)** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 20.5% (Continued)** |
| $7300000 | &nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2016-C4, Class B, 4.147%, 5/10/58 | $7248234 |
| &nbsp;&nbsp; 2137450 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C1, Class A4, 3.209%, 5/10/49 | &nbsp;&nbsp; 2129155 |
| &nbsp;&nbsp;12600000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-C1, Class AS, 3.514%, 5/10/49 | &nbsp;&nbsp; 12447729 |
| &nbsp;&nbsp; 8119429 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C6, Class A5, 3.090%, 1/15/49 | &nbsp;&nbsp; 8090954 |
| &nbsp;&nbsp; 4700000 | &nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser 2016-C7, Class A5, 3.502%, 11/15/49 | &nbsp;&nbsp; 4665402 |
| &nbsp;&nbsp; 499530 | &nbsp;&nbsp;GPMT Ltd., Ser 2021-FL3, Class A, 144a, (TSFR1M + 1.614%), 5.349%, 7/16/35<sup>(A)</sup> | &nbsp;&nbsp; 499247 |
| &nbsp;&nbsp; 598221 | &nbsp;&nbsp;GS Mortgage Securities Corp. Trust, Ser 2017-GPTX, Class A, 144a, 2.856%, 5/10/34 | &nbsp;&nbsp; 524641 |
| &nbsp;&nbsp; 2150000 | &nbsp;&nbsp;Hilton USA Trust, Ser 2016-HHV, Class B, 144a, 4.194%, 11/5/38<sup>(A)(B)</sup> | &nbsp;&nbsp; 2142272 |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;HONO Mortgage Trust, Ser 2021-LULU, Class A, 144a, (TSFR1M +1.264%), 5.015%, 10/15/36<sup>(A)</sup> | &nbsp;&nbsp; 2468854 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2016-JP4, Class A4, 3.648%, 12/15/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 991858 |
| &nbsp;&nbsp;10400000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2016-NINE, Class A, 144a, 2.854%, 9/6/38<sup>(A)(B)</sup> | &nbsp;&nbsp; 10285086 |
| &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2018-WPT, Class BFX, 144a, 4.549%, 7/5/33 | &nbsp;&nbsp; 1072500 |
| &nbsp;&nbsp; 6148663 | &nbsp;&nbsp;KIND Trust, Ser 2021-KIND, Class A, 144a, (TSFR1M + 1.064%), 4.820%, 8/15/38<sup>(A)</sup> | &nbsp;&nbsp; 6123309 |
| &nbsp;&nbsp; 6548364 | &nbsp;&nbsp;MF1 LLC, Ser 2022-FL9, Class A, 144a, (TSFR1M + 2.150%), 5.881%, 6/19/37<sup>(A)</sup> | &nbsp;&nbsp; 6550414 |
| &nbsp;&nbsp; 6124000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C29, Class A4, 3.325%, 5/15/49 | &nbsp;&nbsp; 6091463 |
| &nbsp;&nbsp; 7245000 | &nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust, Ser 2016-C30, Class A5, 2.860%, 9/15/49 | &nbsp;&nbsp; 7171976 |
| &nbsp;&nbsp; 8406728 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2016-BNK2, Class A4, 3.049%, 11/15/49 | &nbsp;&nbsp; 8248600 |
| &nbsp;&nbsp; 6515000 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2017-H1, Class AS, 3.773%, 6/15/50 | &nbsp;&nbsp; 6421075 |
| &nbsp;&nbsp; 5661653 | &nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-BOP, Class A, 144a, (TSFR1M + 0.897%), 4.648%, 8/15/33<sup>(A)</sup> | &nbsp;&nbsp; 4605755 |
| &nbsp;&nbsp; 770864 | &nbsp;&nbsp;SG Commercial Mortgage Securities Trust, Ser 2016-C5, Class A3, 2.779%, 10/10/48 | &nbsp;&nbsp; 768773 |
| &nbsp;&nbsp; 6620000 | &nbsp;&nbsp;Shops at Crystals Trust, Ser 2016-CSTL, Class B, 144a, 3.528%, 7/5/36 | &nbsp;&nbsp; 6580123 |
| &nbsp;&nbsp; 5595000 | &nbsp;&nbsp;Shops at Crystals Trust, Ser 2016-CSTL, Class C, 144a, 3.731%, 7/5/36<sup>(A)(B)</sup> | &nbsp;&nbsp; 5563889 |
| &nbsp;&nbsp;13330000 | &nbsp;&nbsp;VEGAS Trust, Ser 2024-TI, Class A, 144a, 5.518%, 11/10/39 | &nbsp;&nbsp; 13512059 |
| &nbsp;&nbsp; 8102804 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2016-NXS6, Class A3, 2.642%, 11/15/49 | &nbsp;&nbsp; 8086497 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | $190449019 |
|  | &nbsp;&nbsp;**Commercial Paper — 7.2%** | &nbsp;&nbsp;**Commercial Paper — 7.2%** |
| &nbsp;&nbsp;21000000 | &nbsp;&nbsp;Bell Telephone Company of Canada (The), 4.106%, 1/8/26<sup>(C)</sup> | &nbsp;&nbsp; 20982083 |
| &nbsp;&nbsp; 7500000 | &nbsp;&nbsp;Columbia Pipelines Holding Co. LLC, 4.019%, 1/29/26<sup>(C)</sup> | &nbsp;&nbsp; 7476846 |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;ERP Operating LP, 4.015%, 1/6/26<sup>(C)</sup> | &nbsp;&nbsp; 2498411 |
| &nbsp;&nbsp; 600000 | &nbsp;&nbsp;Johns Hopkins Health System Corp. (The), 3.945%, 1/8/26<sup>(C)</sup> | &nbsp;&nbsp; 599510 |
| &nbsp;&nbsp;30700000 | &nbsp;&nbsp;New Jersey Natural Gas Co., 3.801%, 1/2/26<sup>(C)</sup> | &nbsp;&nbsp; 30693369 |
| &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;WEC Energy Group, Inc., 3.771%, 1/2/26<sup>(C)</sup> | &nbsp;&nbsp; 4998930 |

---

------

Touchstone Ultra Short Duration Fixed Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Commercial Paper — 7.2% (Continued)** | &nbsp;&nbsp;**Commercial Paper — 7.2% (Continued)** |
|  | &nbsp;&nbsp;**Total Commercial Paper** | &nbsp;&nbsp; $67249149 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.6%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.6%** |
| $320915 | &nbsp;&nbsp;Bear Stearns ARM Trust, Ser 2003-1, Class 5A1, 6.290%, 4/25/33<sup>(A)(B)††</sup> | $322805 |
| &nbsp;&nbsp; 85727 | &nbsp;&nbsp;Bear Stearns Asset Backed Securities Trust, Ser 2003-AC7, Class A2, 5.750%, 1/25/34<sup>(A)(B)††</sup> | &nbsp;&nbsp; 71345 |
| &nbsp;&nbsp; 3729031 | &nbsp;&nbsp;Cascade Funding Mortgage Trust, Ser 2025-HB16, Class A, 144a, 3.000%, 3/25/35<sup>(A)(B)</sup> | &nbsp;&nbsp; 3662774 |
| &nbsp;&nbsp; 17694 | &nbsp;&nbsp;CIM Trust, Ser 2018-R3, Class A1, 144a, 5.000%, 12/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 17640 |
| &nbsp;&nbsp; 3578868 | &nbsp;&nbsp;COLT Mortgage Loan Trust, Ser 2023-1, Class A1, 144a, 6.048%, 4/25/68<sup>(A)(B)</sup> | &nbsp;&nbsp; 3582238 |
| &nbsp;&nbsp; 195 | &nbsp;&nbsp;Community Program Loan Trust, Ser 1987-A, Class A5, 4.500%, 4/1/29 | &nbsp;&nbsp; 195 |
| &nbsp;&nbsp; 5206065 | &nbsp;&nbsp;CSMC Trust, Ser 2018-RPL9, Class A1, 144a, 3.850%, 9/25/57<sup>(A)(B)</sup> | &nbsp;&nbsp; 5143891 |
| &nbsp;&nbsp; 8094034 | &nbsp;&nbsp;Finance of America HECM Buyout, Ser 2025-HB1, Class A, 144a, 4.500%, 11/25/28<sup>(A)(B)</sup> | &nbsp;&nbsp; 8065164 |
| &nbsp;&nbsp; 865913 | &nbsp;&nbsp;GCAT Trust, Ser 2024-NQM1, Class A1, 144a, 6.007%, 1/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 872626 |
| &nbsp;&nbsp; 971417 | &nbsp;&nbsp;GSR Mortgage Loan Trust, Ser 2003-13, Class 1A1, 5.581%, 10/25/33<sup>(A)(B)</sup> | &nbsp;&nbsp; 972864 |
| &nbsp;&nbsp; 40221 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2006-A4, Class 2A2, 5.688%, 6/25/36<sup>(A)(B)</sup> | &nbsp;&nbsp; 27033 |
| &nbsp;&nbsp; 1401051 | &nbsp;&nbsp;JP Morgan Mortgage Trust, Ser 2019-HYB1, Class A5A, 144a, 5.017%, 10/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 1393959 |
| &nbsp;&nbsp; 11347 | &nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust, Ser 2004-1, Class 1A, 6.253%, 12/25/34<sup>(A)(B)</sup> | &nbsp;&nbsp; 11141 |
| &nbsp;&nbsp; 9468 | &nbsp;&nbsp;Merrill Lynch Mortgage Investors Trust, Ser 2003-A1, Class 2A, (TSFR12M + 2.340%), 5.845%, 12/25/32<sup>(A)</sup> | &nbsp;&nbsp; 9483 |
| &nbsp;&nbsp; 994289 | &nbsp;&nbsp;Mill City Mortgage Loan Trust, Ser 2017-2, Class M1, 144a, 3.250%, 7/25/59<sup>(A)(B)</sup> | &nbsp;&nbsp; 989410 |
| &nbsp;&nbsp; 2214647 | &nbsp;&nbsp;Mill City Mortgage Trust, Ser 2015-1, Class M3, 144a, 3.710%, 6/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 2198944 |
| &nbsp;&nbsp; 4471171 | &nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2024-NQM1, Class A1, 144a, 6.152%, 12/25/68<sup>(A)(B)</sup> | &nbsp;&nbsp; 4508190 |
| &nbsp;&nbsp; 4120036 | &nbsp;&nbsp;New Residential Mortgage Loan Trust, Ser 2024-NQM1, Class A1, 144a, 6.129%, 3/25/64<sup>(A)(B)</sup> | &nbsp;&nbsp; 4162827 |
| &nbsp;&nbsp; 4316692 | &nbsp;&nbsp;OBX Trust, Ser 2024-NQM3, Class A1, 144a, 6.129%, 12/25/63<sup>(A)(B)</sup> | &nbsp;&nbsp; 4358910 |
| &nbsp;&nbsp; 176948 | &nbsp;&nbsp;RFMSI Trust, Ser 2007-SA1, Class 1A1, 3.200%, 2/25/37<sup>(A)(B)</sup> | &nbsp;&nbsp; 151985 |
| &nbsp;&nbsp; 5952748 | &nbsp;&nbsp;RMF Proprietary Issuance Trust, Ser 2019-1, Class A, 144a, 2.750%, 10/25/63<sup>(A)(B)</sup> | &nbsp;&nbsp; 5731246 |
| &nbsp;&nbsp; 775185 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-7, Class B2, 3.508%, 6/25/43<sup>(A)(B)</sup> | &nbsp;&nbsp; 759442 |
| &nbsp;&nbsp; 832657 | &nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2019-CH3, Class A13, 144a, 4.000%, 9/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 785670 |
| &nbsp;&nbsp; 2253882 | &nbsp;&nbsp;Starwood Mortgage Residential Trust, Ser 2020-3, Class A1, 144a, 1.486%, 4/25/65<sup>(A)(B)</sup> | &nbsp;&nbsp; 2207766 |
| &nbsp;&nbsp; 1326436 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2015-2, Class 1B1, 144a, 3.698%, 11/25/60<sup>(A)(B)</sup> | &nbsp;&nbsp; 1317477 |
| &nbsp;&nbsp; 2399146 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2016-1, Class M2, 144a, 3.500%, 2/25/55<sup>(A)(B)</sup> | &nbsp;&nbsp; 2379914 |
| &nbsp;&nbsp; 3450264 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2016-3, Class M2, 144a, 4.000%, 4/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 3437193 |
| &nbsp;&nbsp; 278211 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-1, Class A2, 144a, 3.500%, 10/25/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 277228 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.6%<br> (Continued)** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 6.6%<br> (Continued)** |
| $1591943 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2017-2, Class M1, 144a, 3.750%, 4/25/57<sup>(A)(B)</sup> | $1575882 |
| &nbsp;&nbsp; 2109751 | &nbsp;&nbsp;Towd Point Mortgage Trust, Ser 2021-SJ2, Class A1A, 144a, 2.250%, 12/25/61<sup>(A)(B)</sup> | &nbsp;&nbsp; 2059743 |
|  | &nbsp;&nbsp;**Total Non-Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $61054985 |
|  | &nbsp;&nbsp;**Municipal Bonds — 0.4%** |  |
|  | &nbsp;&nbsp;**Other Territory — 0.4%** |  |
| &nbsp;&nbsp; 725000 | &nbsp;&nbsp;Taxable Municipal Funding Trust, Rev., 144a, 4.150%, 5/15/56<sup>(A)(B)</sup> | &nbsp;&nbsp; 725000 |
| &nbsp;&nbsp; 1745000 | &nbsp;&nbsp;Taxable Municipal Funding Trust, Rev., 144a, 4.150%, 12/15/27<sup>(A)(B)</sup> | &nbsp;&nbsp; 1745000 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Taxable Municipal Funding Trust, Rev., 144a, 4.150%, 6/30/28<sup>(A)(B)</sup> | &nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp; 800000 | &nbsp;&nbsp;Taxable Municipal Funding Trust, Txbl Floaters Ser 2020 11, (LOC - Barclays Bank PLC), 144a, 4.150%, 9/1/30<sup>(A)(B)</sup> | &nbsp;&nbsp; 800000 |
|  |  | &nbsp;&nbsp; 4270000 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 0.3%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 0.3%** |
| &nbsp;&nbsp; 58274 | &nbsp;&nbsp;FHLMC, Pool #1B7189, (RFUCCT1Y + 2.470%), 7.345%, 3/1/36<sup>(A)</sup> | &nbsp;&nbsp; 60757 |
| &nbsp;&nbsp; 52169 | &nbsp;&nbsp;FHLMC, Pool #1H1354, (1 Year CMT Rate +2.250%), 6.260%, 11/1/36<sup>(A)</sup> | &nbsp;&nbsp; 54091 |
| &nbsp;&nbsp; 22684 | &nbsp;&nbsp;FHLMC, Pool #1J1813, (RFUCCT1Y + 1.925%), 6.675%, 8/1/37<sup>(A)</sup> | &nbsp;&nbsp; 23515 |
| &nbsp;&nbsp; 69673 | &nbsp;&nbsp;FHLMC, Pool #1L0147, (1 Year CMT Rate +2.290%), 6.290%, 7/1/35<sup>(A)</sup> | &nbsp;&nbsp; 71815 |
| &nbsp;&nbsp; 24715 | &nbsp;&nbsp;FHLMC, Pool #1Q0080, (RFUCCT1Y + 1.661%), 6.425%, 1/1/36<sup>(A)</sup> | &nbsp;&nbsp; 25602 |
| &nbsp;&nbsp; 66089 | &nbsp;&nbsp;FHLMC, Pool #1Q0119, (RFUCCT1Y + 1.850%), 6.613%, 9/1/36<sup>(A)</sup> | &nbsp;&nbsp; 68379 |
| &nbsp;&nbsp; 54284 | &nbsp;&nbsp;FHLMC, Pool #1Q0187, (RFUCCT1Y + 1.789%), 6.433%, 12/1/36<sup>(A)</sup> | &nbsp;&nbsp; 56102 |
| &nbsp;&nbsp; 24342 | &nbsp;&nbsp;FHLMC, Pool #1Q0339, (RFUCCT1Y + 1.901%), 6.722%, 4/1/37<sup>(A)</sup> | &nbsp;&nbsp; 25107 |
| &nbsp;&nbsp; 40946 | &nbsp;&nbsp;FHLMC, Pool #1Q1303, (1 Year CMT Rate +2.250%), 6.239%, 11/1/36<sup>(A)</sup> | &nbsp;&nbsp; 42263 |
| &nbsp;&nbsp; 64108 | &nbsp;&nbsp;FHLMC, Pool #781515, (1 Year CMT Rate +2.250%), 6.500%, 4/1/34<sup>(A)</sup> | &nbsp;&nbsp; 66036 |
| &nbsp;&nbsp; 26773 | &nbsp;&nbsp;FHLMC, Pool #782760, (1 Year CMT Rate +2.250%), 6.293%, 11/1/36<sup>(A)</sup> | &nbsp;&nbsp; 27849 |
| &nbsp;&nbsp; 23538 | &nbsp;&nbsp;FHLMC, Pool #847795, (1 Year CMT Rate +2.275%), 6.379%, 4/1/35<sup>(A)</sup> | &nbsp;&nbsp; 24101 |
| &nbsp;&nbsp; 79779 | &nbsp;&nbsp;FHLMC, Pool #848539, (1 Year CMT Rate +2.288%), 6.401%, 4/1/37<sup>(A)</sup> | &nbsp;&nbsp; 82264 |
| &nbsp;&nbsp; 175522 | &nbsp;&nbsp;FHLMC, Pool #848583, (1 Year CMT Rate +2.303%), 6.431%, 1/1/36<sup>(A)</sup> | &nbsp;&nbsp; 182660 |
| &nbsp;&nbsp; 2898 | &nbsp;&nbsp;FHLMC, Pool #A92646, 5.500%, 6/1/40 | &nbsp;&nbsp; 3025 |
| &nbsp;&nbsp; 3950 | &nbsp;&nbsp;FHLMC, Pool #C03505, 5.500%, 6/1/40 | &nbsp;&nbsp; 4123 |
| &nbsp;&nbsp; 9539 | &nbsp;&nbsp;FHLMC, Pool #G01840, 5.000%, 7/1/35 | &nbsp;&nbsp; 9704 |
| &nbsp;&nbsp; 27590 | &nbsp;&nbsp;FNMA, Pool #254868, 5.000%, 9/1/33 | &nbsp;&nbsp; 28033 |
| &nbsp;&nbsp; 578 | &nbsp;&nbsp;FNMA, Pool #256272, 5.500%, 6/1/26 | &nbsp;&nbsp; 586 |
| &nbsp;&nbsp; 6476 | &nbsp;&nbsp;FNMA, Pool #256852, 6.000%, 8/1/27 | &nbsp;&nbsp; 6646 |
| &nbsp;&nbsp; 1999 | &nbsp;&nbsp;FNMA, Pool #323832, 7.500%, 7/1/29 | &nbsp;&nbsp; 2045 |
| &nbsp;&nbsp; 6020 | &nbsp;&nbsp;FNMA, Pool #665773, 7.500%, 6/1/31 | &nbsp;&nbsp; 6060 |
| &nbsp;&nbsp; 31199 | &nbsp;&nbsp;FNMA, Pool #679742, (1 Year CMT Rate +2.480%), 6.906%, 1/1/40<sup>(A)</sup> | &nbsp;&nbsp; 31880 |
| &nbsp;&nbsp; 34665 | &nbsp;&nbsp;FNMA, Pool #725424, 5.500%, 4/1/34 | &nbsp;&nbsp; 35647 |
| &nbsp;&nbsp; 135485 | &nbsp;&nbsp;FNMA, Pool #725490, (RFUCCT1Y + 1.597%), 6.574%, 4/1/34<sup>(A)</sup> | &nbsp;&nbsp; 138583 |
| &nbsp;&nbsp; 5570 | &nbsp;&nbsp;FNMA, Pool #735484, 5.000%, 5/1/35 | &nbsp;&nbsp; 5720 |

---

------

Touchstone Ultra Short Duration Fixed Income Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 0.3%<br> (Continued)** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 0.3%<br> (Continued)** |
| $33047 | &nbsp;&nbsp;FNMA, Pool #813170, (RFUCCT1Y + 1.575%), 6.540%, 1/1/35<sup>(A)</sup> | $33838 |
| &nbsp;&nbsp; 98932 | &nbsp;&nbsp;FNMA, Pool #815323, (RFUCCT6M + 1.529%), 6.058%, 1/1/35<sup>(A)</sup> | &nbsp;&nbsp; 102815 |
| &nbsp;&nbsp; 44098 | &nbsp;&nbsp;FNMA, Pool #820364, (RFUCCT1Y + 0.827%), 5.827%, 4/1/35<sup>(A)</sup> | &nbsp;&nbsp; 44306 |
| &nbsp;&nbsp; 47483 | &nbsp;&nbsp;FNMA, Pool #827787, (RFUCCT6M + 1.55%), 5.862%, 5/1/35<sup>(A)</sup> | &nbsp;&nbsp; 48756 |
| &nbsp;&nbsp; 23870 | &nbsp;&nbsp;FNMA, Pool #889060, 6.000%, 1/1/38 | &nbsp;&nbsp; 25763 |
| &nbsp;&nbsp; 22950 | &nbsp;&nbsp;FNMA, Pool #889061, 6.000%, 1/1/38 | &nbsp;&nbsp; 24280 |
| &nbsp;&nbsp; 1464 | &nbsp;&nbsp;FNMA, Pool #889382, 5.500%, 4/1/38 | &nbsp;&nbsp; 1530 |
| &nbsp;&nbsp; 39933 | &nbsp;&nbsp;FNMA, Pool #922674, (RFUCCT1Y + 1.905%), 6.737%, 4/1/36<sup>(A)</sup> | &nbsp;&nbsp; 41407 |
| &nbsp;&nbsp; 13280 | &nbsp;&nbsp;FNMA, Pool #960376, 5.500%, 12/1/37 | &nbsp;&nbsp; 13874 |
| &nbsp;&nbsp; 2358 | &nbsp;&nbsp;FNMA, Pool #AD0941, 5.500%, 4/1/40 | &nbsp;&nbsp; 2459 |
| &nbsp;&nbsp; 15454 | &nbsp;&nbsp;FNMA, Pool #AE0363, 5.000%, 7/1/37 | &nbsp;&nbsp; 15672 |
| &nbsp;&nbsp; 22994 | &nbsp;&nbsp;FNMA, Pool #AE5441, 5.000%, 10/1/40 | &nbsp;&nbsp; 23672 |
| &nbsp;&nbsp; 1504 | &nbsp;&nbsp;FNMA, Pool #AI6588, 4.000%, 7/1/26 | &nbsp;&nbsp; 1499 |
| &nbsp;&nbsp; 4487 | &nbsp;&nbsp;FNMA, Pool #AI8506, 4.000%, 8/1/26 | &nbsp;&nbsp; 4473 |
| &nbsp;&nbsp; 32509 | &nbsp;&nbsp;FNMA, Pool #AL0211, 5.000%, 4/1/41 | &nbsp;&nbsp; 33468 |
| &nbsp;&nbsp; 130672 | &nbsp;&nbsp;FNMA, Pool #AL0478, (RFUCCT1Y + 1.777%), 6.577%, 4/1/36<sup>(A)</sup> | &nbsp;&nbsp; 136028 |
| &nbsp;&nbsp; 73467 | &nbsp;&nbsp;FNMA, Pool #AL0543, 5.000%, 7/1/41 | &nbsp;&nbsp; 75633 |
| &nbsp;&nbsp; 29847 | &nbsp;&nbsp;FNMA, Pool #AL1105, 4.500%, 12/1/40 | &nbsp;&nbsp; 30068 |
| &nbsp;&nbsp; 6676 | &nbsp;&nbsp;FNMA, Pool #AL2591, 5.500%, 5/1/38 | &nbsp;&nbsp; 6762 |
| &nbsp;&nbsp; 146343 | &nbsp;&nbsp;FNMA, Pool #AL5275, (RFUCCT6M + 1.505%), 6.005%, 9/1/37<sup>(A)</sup> | &nbsp;&nbsp; 151449 |
| &nbsp;&nbsp; 343404 | &nbsp;&nbsp;FNMA, Pool #AL7396, (RFUCCT6M + 1.532%), 6.021%, 2/1/37<sup>(A)</sup> | &nbsp;&nbsp; 353862 |
| &nbsp;&nbsp; 95875 | &nbsp;&nbsp;GNMA, Pool #80826, (1 Year CMT Rate +1.500%), 5.625%, 2/20/34<sup>(A)</sup> | &nbsp;&nbsp; 97360 |
| &nbsp;&nbsp; 42756 | &nbsp;&nbsp;GNMA, Pool #80889, (1 Year CMT Rate +1.500%), 5.625%, 4/20/34<sup>(A)</sup> | &nbsp;&nbsp; 43481 |
| &nbsp;&nbsp; 87722 | &nbsp;&nbsp;GNMA, Pool #81016, (1 Year CMT Rate +1.500%), 5.375%, 8/20/34<sup>(A)</sup> | &nbsp;&nbsp; 89169 |
| &nbsp;&nbsp; 104569 | &nbsp;&nbsp;GNMA, Pool #82760, (1 Year CMT Rate +1.500%), 5.625%, 3/20/41<sup>(A)</sup> | &nbsp;&nbsp; 106570 |
| &nbsp;&nbsp; 6170 | &nbsp;&nbsp;GNMA, Pool #MA2392, (1 Year CMT Rate +1.500%), 4.750%, 11/20/44<sup>(A)</sup> | &nbsp;&nbsp; 6193 |
| &nbsp;&nbsp; 151588 | &nbsp;&nbsp;GNMA, Pool #MA2466, (1 Year CMT Rate +1.500%), 4.750%, 12/20/44<sup>(A)</sup> | &nbsp;&nbsp; 155098 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp;&nbsp; $2752078 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 0.0%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 0.0%** |
| &nbsp;&nbsp; 68358 | &nbsp;&nbsp;FHLMC REMIC, Ser 2770, Class FH, (SOFR30A + 0.514%), 4.498%, 3/15/34<sup>(A)</sup> | &nbsp;&nbsp; 67951 |
| &nbsp;&nbsp; 34580 | &nbsp;&nbsp;FHLMC REMIC, Ser 4238, Class TL, 1.250%, 8/15/27 | &nbsp;&nbsp; 34140 |
| &nbsp;&nbsp; 13820 | &nbsp;&nbsp;FNMA REMIC, Ser 2003-33, Class AM, 4.250%, 5/25/33 | &nbsp;&nbsp; 13638 |
| &nbsp;&nbsp; 2476 | &nbsp;&nbsp;FNMA REMIC, Ser 2003-42, Class CA, 4.000%, 5/25/33 | &nbsp;&nbsp; 2461 |
| &nbsp;&nbsp; 51190 | &nbsp;&nbsp;FNMA REMIC, Ser 2003-81, Class FE, (SOFR30A + 0.614%), 4.489%, 9/25/33<sup>(A)</sup> | &nbsp;&nbsp; 51017 |
| &nbsp;&nbsp; 131883 | &nbsp;&nbsp;FNMA REMIC, Ser 2009-32, Class BH, 5.250%, 5/25/39 | &nbsp;&nbsp; 134617 |
| &nbsp;&nbsp; 3430 | &nbsp;&nbsp;FNMA REMIC, Ser 2012-102, Class NA, 1.500%, 9/25/27 | &nbsp;&nbsp; 3384 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;&nbsp; $307208 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **MarketValue** |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3374 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | $3374 |
|  | &nbsp;&nbsp;**Total Investment Securities—98.8%<br> (Cost $919,954,543)** | $919348910 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 1.2%** | &nbsp;&nbsp; 10855821 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $930204731 |

---

---

| | |
|:---|:---|
| *(A)* | *Variable rate security - Rate reflected is the rate in effect as of December 31, 2025.* |
| *(B)* | *Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.* |
| *(C)* | *Rate reflects yield at the time of purchase.* |
| *††* | *The issuers and/or sponsors of certain mortgage-backed securities may no longer exist; however, the securities held by the Fund are separate legal entities organized as trusts and publicly traded. The Fund receives principal and interest payments directly from these trusts.* |
| *∞* | *Open-End Fund.* |
| *Ω* | *Represents the 7-Day SEC yield as of December 31, 2025.* |

---

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ARM – Adjustable Rate Mortgage* |
| *CLO – Collateralized Loan Obligation* |
| *CMT – Constant Maturity Treasury* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *GNMA – Government National Mortgage Association* |
| *LLC – Limited Liability Company* |
| *LOC – Letter of Credit* |
| *LP – Limited Partnership* |
| *PLC – Public Limited Company* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *RFUCCT1Y – FTSE USD IBOR Consumer Cash Fallbacks Term One year* |
| *RFUCCT6M – FTSE USD IBOR Consumer Cash Fallbacks Term Six months* |
| *SOFR – Secured Overnight Financing Rate* |
| *SOFR30A – Secured Overnight Financing Rate 30 Day Average* |
| *TSFR12M – Twelve Month Term Secured Overnight Financing Rate* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $542,949,556 or 58.4% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

------

Touchstone Ultra Short Duration Fixed Income Fund (Unaudited) (Continued)

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;*$—* | *$306803424* | *$—* | *$306803424* |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*286459673* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*286459673* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*190449019* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*190449019* |
| *Commercial Paper* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*67249149* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*67249149* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*61054985* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*61054985* |
| *Municipal Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4270000* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*4270000* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2752078* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2752078* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*307208* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*307208* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;*3374* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3374* |
| *Total* | *$3374* | *$919345536* | *$—* | *$919348910* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Portfolio of Investments

Touchstone US Quality Bond Fund – December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 24.8%** |  |
|  | &nbsp;&nbsp;**Financials — 7.8%** |  |
| $4000000 | &nbsp;&nbsp;AT&T Reign II Multi-Property Lease-Backed Pass-Through Trust, 144a, 6.088%, 12/15/44 | $4048191 |
| &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;Bank of America Corp., 6.204%, 11/10/28 | &nbsp;&nbsp; 4157239 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Fifth Third Bancorp, 5.631%, 1/29/32 | &nbsp;&nbsp; 2100786 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Fifth Third Bancorp, 6.339%, 7/27/29 | &nbsp;&nbsp; 1053396 |
| &nbsp;&nbsp; 858264 | &nbsp;&nbsp;Fishers Lane Associates LLC, 144a, 3.666%, 8/5/30 | &nbsp;&nbsp; 814980 |
| &nbsp;&nbsp; 940000 | &nbsp;&nbsp;Fishers Lane Associates LLC, 144a, 5.477%, 8/5/40 | &nbsp;&nbsp; 961446 |
| &nbsp;&nbsp; 2599000 | &nbsp;&nbsp;Globe Life, Inc., 4.550%, 9/15/28 | &nbsp;&nbsp; 2623566 |
| &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;JPMorgan Chase & Co., 2.580%, 4/22/32 | &nbsp;&nbsp; 4574249 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;KeyCorp, MTN, 2.550%, 10/1/29 | &nbsp;&nbsp; 1416902 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Metropolitan Life Global Funding I, 144a, 3.050%, 6/17/29 | &nbsp;&nbsp; 1445725 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Metropolitan Life Global Funding I, 144a, 4.300%, 8/25/29 | &nbsp;&nbsp; 2009123 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Nationwide Mutual Insurance Co., 144a, 4.350%, 4/30/50 | &nbsp;&nbsp; 1179092 |
| &nbsp;&nbsp; 2419000 | &nbsp;&nbsp;Nationwide Mutual Insurance Co., 144a, 9.375%, 8/15/39 | &nbsp;&nbsp; 3241762 |
| &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;PNC Bank NA, 2.700%, 10/22/29 | &nbsp;&nbsp; 3307634 |
| &nbsp;&nbsp; 1274000 | &nbsp;&nbsp;Protective Life Corp., 8.450%, 10/15/39 | &nbsp;&nbsp; 1593530 |
| &nbsp;&nbsp; 1525000 | &nbsp;&nbsp;Reliance Standard Life Global Funding II, 144a, 5.243%, 2/2/26 | &nbsp;&nbsp; 1525856 |
| &nbsp;&nbsp; 2610000 | &nbsp;&nbsp;Reliance Standard Life Global Funding II, 144a, 2.750%, 1/21/27 | &nbsp;&nbsp; 2570884 |
| &nbsp;&nbsp; 2802000 | &nbsp;&nbsp;Teachers Insurance & Annuity Association of America, 144a, 4.900%, 9/15/44 | &nbsp;&nbsp; 2551327 |
| &nbsp;&nbsp; 2292000 | &nbsp;&nbsp;Unum Group, 7.250%, 3/15/28 | &nbsp;&nbsp; 2403439 |
| &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;Unum Group, MTN, 7.190%, 2/1/28 | &nbsp;&nbsp; 1151831 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;US Bancorp, 5.850%, 10/21/33 | &nbsp;&nbsp; 1608663 |
|  |  | &nbsp;&nbsp; 46339621 |
|  | &nbsp;&nbsp;**Utilities — 6.6%** |  |
| &nbsp;&nbsp; 2431667 | &nbsp;&nbsp;Atmos Energy Kansas Securitization I LLC, 5.155%, 3/1/33 | &nbsp;&nbsp; 2486354 |
| &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;Avista Corp., 4.350%, 6/1/48 | &nbsp;&nbsp; 2674844 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Brazos Securitization LLC, 144a, 5.243%, 9/1/40 | &nbsp;&nbsp; 1502821 |
| &nbsp;&nbsp; 1623000 | &nbsp;&nbsp;California Water Service Co., 5.500%, 12/1/40 | &nbsp;&nbsp; 1629545 |
| &nbsp;&nbsp; 3270000 | &nbsp;&nbsp;Cleco Securitization I LLC, Ser A-2, 4.646%, 9/1/42 | &nbsp;&nbsp; 3130581 |
| &nbsp;&nbsp; 2008000 | &nbsp;&nbsp;Commonwealth Edison Co., 5.900%, 3/15/36 | &nbsp;&nbsp; 2160499 |
| &nbsp;&nbsp; 2163000 | &nbsp;&nbsp;Dominion Energy South Carolina, Inc., 4.600%, 6/15/43 | &nbsp;&nbsp; 1942059 |
| &nbsp;&nbsp; 2530000 | &nbsp;&nbsp;Dominion Energy, Inc., 5.450%, 3/15/35 | &nbsp;&nbsp; 2597976 |
| &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;Duke Energy Florida Project Finance LLC, Ser 2032, 2.858%, 3/1/33 | &nbsp;&nbsp; 1769658 |
| &nbsp;&nbsp; 2082000 | &nbsp;&nbsp;Duke Energy Progress LLC, 6.300%, 4/1/38 | &nbsp;&nbsp; 2314037 |
| &nbsp;&nbsp; 2153858 | &nbsp;&nbsp;Empire District Bondco LLC, Ser A-1, 4.943%, 1/1/33 | &nbsp;&nbsp; 2190828 |
| &nbsp;&nbsp; 2192000 | &nbsp;&nbsp;Essential Utilities, Inc., 4.276%, 5/1/49 | &nbsp;&nbsp; 1773904 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;Idaho Power Co., MTN, 5.500%, 3/15/53 | &nbsp;&nbsp; 1951833 |
| &nbsp;&nbsp; 2340000 | &nbsp;&nbsp;Kentucky Utilities Co., 5.125%, 11/1/40 | &nbsp;&nbsp; 2298042 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 5.800%, 1/15/33 | &nbsp;&nbsp; 1073538 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;Nevada Power Co., 5.450%, 5/15/41 | &nbsp;&nbsp; 2979916 |
| &nbsp;&nbsp; 2080000 | &nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC, Ser A-5, 5.099%, 6/1/52 | &nbsp;&nbsp; 1943625 |
| &nbsp;&nbsp; 1505727 | &nbsp;&nbsp;Southaven Combined Cycle Generation LLC, 3.846%, 8/15/33 | &nbsp;&nbsp; 1469563 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;Southern Co. Gas Capital Corp., 4.950%, 9/15/34 | &nbsp;&nbsp; 1506431 |
|  |  | &nbsp;&nbsp; 39396054 |
|  | &nbsp;&nbsp;**Industrials — 2.4%** |  |
| &nbsp;&nbsp; 687050 | &nbsp;&nbsp;BNSF Railway Co. Pass-Through Trust, 144a, 3.442%, 6/16/28 | &nbsp;&nbsp; 674109 |
| &nbsp;&nbsp; 2355000 | &nbsp;&nbsp;Burlington Northern Santa Fe LLC, 6.700%, 8/1/28 | &nbsp;&nbsp; 2488110 |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;CSX Corp., 6.150%, 5/1/37 | &nbsp;&nbsp; 1650725 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Corporate Bonds — 24.8% (Continued)** |  |
|  | &nbsp;&nbsp;**Industrials — 2.4% (Continued)** |  |
| $1494579 | &nbsp;&nbsp;FedEx Corp. Pass-Through Trust, 1.875%, 2/20/34 | $1305542 |
| &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;GATX Corp., 1.900%, 6/1/31 | &nbsp;&nbsp; 942860 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;GATX Corp., 5.500%, 6/15/35 | &nbsp;&nbsp; 3080176 |
| &nbsp;&nbsp; 366000 | &nbsp;&nbsp;TOTE Maritime Alaska LLC, 6.365%, 4/15/28 | &nbsp;&nbsp; 375623 |
| &nbsp;&nbsp; 1999000 | &nbsp;&nbsp;Tote Shipholdings LLC, 3.400%, 10/16/40 | &nbsp;&nbsp; 1800145 |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;Union Pacific Corp., 4.850%, 6/15/44 | &nbsp;&nbsp; 886341 |
| &nbsp;&nbsp; 1037455 | &nbsp;&nbsp;Union Pacific Railroad Co. Pass-Through Trust, 3.227%, 5/14/26 | &nbsp;&nbsp; 1034750 |
| &nbsp;&nbsp; 61874 | &nbsp;&nbsp;Union Pacific Railroad Co. Pass-Through Trust, 5.866%, 7/2/30 | &nbsp;&nbsp; 64399 |
|  |  | &nbsp;&nbsp; 14302780 |
|  | &nbsp;&nbsp;**Real Estate — 1.9%** |  |
| &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;American Tower Corp. REIT, 3.125%, 1/15/27 | &nbsp;&nbsp; 2476457 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;American Tower Corp. REIT, 4.900%, 3/15/30 | &nbsp;&nbsp; 2044239 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;Crown Castle International Corp. REIT, 4.300%, 2/15/29 | &nbsp;&nbsp; 2994040 |
| &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;SBA Tower Trust REIT, 144a, 1.631%, 11/15/26 | &nbsp;&nbsp; 2005723 |
| &nbsp;&nbsp; 1885000 | &nbsp;&nbsp;SBA Tower Trust REIT, 144a, 1.884%, 1/15/26 | &nbsp;&nbsp; 1882897 |
|  |  | &nbsp;&nbsp; 11403356 |
|  | &nbsp;&nbsp;**Consumer Discretionary — 1.7%** |  |
| &nbsp;&nbsp; 2868396 | &nbsp;&nbsp;American Airlines Group, Inc. Pass-Through Trust, Ser 2016-3, AA, 3.000%, 10/15/28 | &nbsp;&nbsp; 2772922 |
| &nbsp;&nbsp; 1785000 | &nbsp;&nbsp;PulteGroup, Inc., 7.875%, 6/15/32 | &nbsp;&nbsp; 2095692 |
| &nbsp;&nbsp; 2570000 | &nbsp;&nbsp;Smithsonian Institution, 2.645%, 9/1/39 | &nbsp;&nbsp; 2041132 |
| &nbsp;&nbsp; 484180 | &nbsp;&nbsp;United Airlines, Inc. Pass-Through Trust, 2.875%, 10/7/28 | &nbsp;&nbsp; 466893 |
| &nbsp;&nbsp; 2798913 | &nbsp;&nbsp;United Airlines, Inc. Pass-Through Trust, Ser 2023-1, A, 5.800%, 1/15/36 | &nbsp;&nbsp; 2928268 |
|  |  | &nbsp;&nbsp; 10304907 |
|  | &nbsp;&nbsp;**Communication Services — 1.5%** |  |
| &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;AT&T, Inc., 4.850%, 7/15/45 | &nbsp;&nbsp; 1334487 |
| &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;AT&T, Inc., 6.250%, 3/29/41 | &nbsp;&nbsp; 1329038 |
| &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;AT&T, Inc., 6.800%, 5/15/36 | &nbsp;&nbsp; 1189214 |
| &nbsp;&nbsp; 1445000 | &nbsp;&nbsp;Crown Castle Towers LLC, 144a, 4.241%, 7/15/28 | &nbsp;&nbsp; 1440666 |
| &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;T-Mobile USA, Inc., 4.375%, 4/15/40 | &nbsp;&nbsp; 3597398 |
|  |  | &nbsp;&nbsp; 8890803 |
|  | &nbsp;&nbsp;**Health Care — 1.5%** |  |
| &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;Banner Health, 2.480%, 1/1/32 | &nbsp;&nbsp; 3083390 |
| &nbsp;&nbsp; 969120 | &nbsp;&nbsp;CVS Pass Through Trust, Ser 2013, 144a, 4.704%, 1/10/36 | &nbsp;&nbsp; 900502 |
| &nbsp;&nbsp; 1167510 | &nbsp;&nbsp;CVS Pass-Through Trust, 6.036%, 12/10/28 | &nbsp;&nbsp; 1180121 |
| &nbsp;&nbsp; 3955000 | &nbsp;&nbsp;Piedmont Healthcare, Inc., 2.044%, 1/1/32 | &nbsp;&nbsp; 3423907 |
|  |  | &nbsp;&nbsp; 8587920 |
|  | &nbsp;&nbsp;**Consumer Staples — 1.1%** |  |
| &nbsp;&nbsp; 3345000 | &nbsp;&nbsp;Kroger Co. (The), Ser B, 7.700%, 6/1/29 | &nbsp;&nbsp; 3700204 |
| &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;United Rentals North America, Inc., 4.875%, 1/15/28 | &nbsp;&nbsp; 1599960 |
| &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;United Rentals North America, Inc., 144a, 6.000%, 12/15/29 | &nbsp;&nbsp; 1335572 |
|  |  | &nbsp;&nbsp; 6635736 |
|  | &nbsp;&nbsp;**Energy — 0.3%** |  |
| &nbsp;&nbsp; 1405000 | &nbsp;&nbsp;Texas Eastern Transmission LP, 7.000%, 7/15/32 | &nbsp;&nbsp; 1579121 |
|  | &nbsp;&nbsp;**Total Corporate Bonds** | $147440298 |
|  | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4%** | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4%** |
| &nbsp;&nbsp; 1532000 | &nbsp;&nbsp;Canal Barge Co., Inc., 4.500%, 11/12/34 | &nbsp;&nbsp; 1521549 |
| &nbsp;&nbsp; 250368 | &nbsp;&nbsp;Reliance Industries Ltd. (India), 1.870%, 1/15/26 | &nbsp;&nbsp; 250116 |
| &nbsp;&nbsp; 36327 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2006-20H, Class 1, 5.700%, 8/1/26 | &nbsp;&nbsp; 36410 |
| &nbsp;&nbsp; 11698 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2006-20K, Class 1, 5.360%, 11/1/26 | &nbsp;&nbsp; 11755 |

---

------

Touchstone US Quality Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** |
| $21989 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2006-20L, Class 1, 5.120%, 12/1/26 | $22044 |
| &nbsp;&nbsp; 32220 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2007-20A, Class 1, 5.320%, 1/1/27 | &nbsp;&nbsp; 32352 |
| &nbsp;&nbsp; 54300 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2007-20E, Class 1, 5.310%, 5/1/27 | &nbsp;&nbsp; 54313 |
| &nbsp;&nbsp; 104709 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2007-20F, Class 1, 5.710%, 6/1/27 | &nbsp;&nbsp; 105771 |
| &nbsp;&nbsp; 114209 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2007-20L, Class 1, 5.290%, 12/1/27 | &nbsp;&nbsp; 114915 |
| &nbsp;&nbsp; 59525 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2008-20A, Class 1, 5.170%, 1/1/28 | &nbsp;&nbsp; 59795 |
| &nbsp;&nbsp; 72134 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2008-20K, Class 1, 6.770%, 11/1/28 | &nbsp;&nbsp; 73866 |
| &nbsp;&nbsp; 161483 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2009-20C, Class 1, 4.660%, 3/1/29 | &nbsp;&nbsp; 162553 |
| &nbsp;&nbsp; 77423 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2009-20D, Class 1, 4.310%, 4/1/29 | &nbsp;&nbsp; 77158 |
| &nbsp;&nbsp; 163495 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2009-20E, Class 1, 4.430%, 5/1/29 | &nbsp;&nbsp; 163227 |
| &nbsp;&nbsp; 76282 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2009-20F, Class 1, 4.950%, 6/1/29 | &nbsp;&nbsp; 77123 |
| &nbsp;&nbsp; 220957 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2009-20J, Class 1, 3.920%, 10/1/29 | &nbsp;&nbsp; 219753 |
| &nbsp;&nbsp; 376958 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2010-20F, Class 1, 3.880%, 6/1/30 | &nbsp;&nbsp; 374614 |
| &nbsp;&nbsp; 886720 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2010-20I, Class 1, 3.210%, 9/1/30 | &nbsp;&nbsp; 867486 |
| &nbsp;&nbsp; 2336401 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2013-20C, Class 1, 2.220%, 3/1/33 | &nbsp;&nbsp; 2204438 |
| &nbsp;&nbsp; 2511749 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2013-20E, Class 1, 2.070%, 5/1/33 | &nbsp;&nbsp; 2354138 |
| &nbsp;&nbsp; 1045974 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2013-20G, Class 1, 3.150%, 7/1/33 | &nbsp;&nbsp; 1013720 |
| &nbsp;&nbsp; 1197874 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2014-20H, Class 1, 2.880%, 8/1/34 | &nbsp;&nbsp; 1144244 |
| &nbsp;&nbsp; 1949154 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2014-20K, Class 1, 2.800%, 11/1/34 | &nbsp;&nbsp; 1851681 |
| &nbsp;&nbsp; 1118396 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2015-20I, Class 1, 2.820%, 9/1/35 | &nbsp;&nbsp; 1057763 |
| &nbsp;&nbsp; 2075155 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2016-20A, Class 1, 2.780%, 1/1/36 | &nbsp;&nbsp; 1963122 |
| &nbsp;&nbsp; 1846473 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2016-20B, Class 1, 2.270%, 2/1/36 | &nbsp;&nbsp; 1712514 |
| &nbsp;&nbsp; 1928100 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2016-20E, Class 1, 2.270%, 5/1/36 | &nbsp;&nbsp; 1787230 |
| &nbsp;&nbsp; 1950833 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2016-20F, Class 1, 2.180%, 6/1/36 | &nbsp;&nbsp; 1789146 |
| &nbsp;&nbsp; 3155057 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2016-20L, Class 1, 2.810%, 12/1/36 | &nbsp;&nbsp; 2979779 |
| &nbsp;&nbsp; 538474 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-10A, Class 1, 2.845%, 3/10/27 | &nbsp;&nbsp; 530879 |
| &nbsp;&nbsp; 562487 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-10B, Class 1, 2.518%, 9/10/27 | &nbsp;&nbsp; 549118 |
| &nbsp;&nbsp; 2394580 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-20E, Class 1, 2.880%, 5/1/37 | &nbsp;&nbsp; 2265366 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** |
| $2377017 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-20F, Class 1, 2.810%, 6/1/37 | $2244391 |
| &nbsp;&nbsp; 2897378 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-20K, Class 1, 2.790%, 11/1/37 | &nbsp;&nbsp; 2716340 |
| &nbsp;&nbsp; 1297621 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2017-20L, Class 1, 2.780%, 12/1/37 | &nbsp;&nbsp; 1210548 |
| &nbsp;&nbsp; 3109987 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2018-20A, Class 1, 2.920%, 1/1/38 | &nbsp;&nbsp; 2950630 |
| &nbsp;&nbsp; 3525656 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2018-20C, Class 1, 3.200%, 3/1/38 | &nbsp;&nbsp; 3353456 |
| &nbsp;&nbsp; 2444883 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2018-20K, Class 1, 3.870%, 11/1/38 | &nbsp;&nbsp; 2398004 |
| &nbsp;&nbsp; 1432358 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2018-25D, Class 1, 3.890%, 10/1/43 | &nbsp;&nbsp; 1357101 |
| &nbsp;&nbsp; 1606251 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2019-20A, Class 1, 3.370%, 1/1/39 | &nbsp;&nbsp; 1537105 |
| &nbsp;&nbsp; 2291737 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2019-25B, Class 1, 3.450%, 2/1/44 | &nbsp;&nbsp; 2149010 |
| &nbsp;&nbsp; 1927962 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2019-25E, Class 1, 3.070%, 5/1/44 | &nbsp;&nbsp; 1770487 |
| &nbsp;&nbsp; 2933343 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2020-25I, Class 1, 1.150%, 9/1/45 | &nbsp;&nbsp; 2412246 |
| &nbsp;&nbsp; 4634121 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2021-25L, Class 1, 1.850%, 12/1/46 | &nbsp;&nbsp; 3844478 |
| &nbsp;&nbsp; 2874607 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2022-25C, Class 1, 2.750%, 3/1/47 | &nbsp;&nbsp; 2543587 |
| &nbsp;&nbsp; 1978278 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2022-25D, Class 1, 3.500%, 4/1/47 | &nbsp;&nbsp; 1840853 |
| &nbsp;&nbsp; 2817813 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2022-25G, Class 1, 3.930%, 7/1/47 | &nbsp;&nbsp; 2711882 |
| &nbsp;&nbsp; 3498389 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2022-25H, Class 1, 3.800%, 8/1/47 | &nbsp;&nbsp; 3319002 |
| &nbsp;&nbsp; 8542332 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2022-25I, Class 1, 4.260%, 9/1/47 | &nbsp;&nbsp; 8351113 |
| &nbsp;&nbsp; 4274692 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-10A, Class 1, 5.168%, 3/10/33 | &nbsp;&nbsp; 4366221 |
| &nbsp;&nbsp; 2249485 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-20E, Class 1, 4.600%, 5/1/43 | &nbsp;&nbsp; 2240087 |
| &nbsp;&nbsp; 2109613 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-25C, Class 1, 4.930%, 3/1/48 | &nbsp;&nbsp; 2136746 |
| &nbsp;&nbsp; 5200233 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-25F, Class 1, 4.930%, 6/1/48 | &nbsp;&nbsp; 5282417 |
| &nbsp;&nbsp; 2505179 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-10A, Class 1, 5.035%, 3/10/34 | &nbsp;&nbsp; 2539777 |
| &nbsp;&nbsp; 5149797 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-10B, Class 1, 4.380%, 9/10/34 | &nbsp;&nbsp; 5118634 |
| &nbsp;&nbsp; 5479841 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-25A, Class 1, 5.050%, 1/1/49 | &nbsp;&nbsp; 5558246 |
| &nbsp;&nbsp; 5127754 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-25B, Class 1, 5.070%, 2/1/49 | &nbsp;&nbsp; 5209231 |
| &nbsp;&nbsp; 5527798 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-25I, Class 1, 4.450%, 9/1/49 | &nbsp;&nbsp; 5434587 |
| &nbsp;&nbsp; 7759433 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-25K, Class 1, 5.010%, 11/1/49 | &nbsp;&nbsp; 7866181 |

---

------

Touchstone US Quality Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** | &nbsp;&nbsp;**U.S. Government Agency Obligations — 22.4% (Continued)** |
| $3901663 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2024-25L, Class 1, 4.820%, 12/1/49 | $3908967 |
| &nbsp;&nbsp; 4923276 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2025-25C, Class 1, 4.970%, 3/1/50 | &nbsp;&nbsp; 4982359 |
| &nbsp;&nbsp; 2760000 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2025-25H, Class 1, 4.960%, 8/1/50 | &nbsp;&nbsp; 2782855 |
| &nbsp;&nbsp; 1953756 | &nbsp;&nbsp;United States International Development Finance Corp., 1.870%, 11/20/37 | &nbsp;&nbsp; 1643432 |
|  | &nbsp;&nbsp;**Total U.S. Government Agency Obligations** | $133207911 |
|  | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 13.9%** | &nbsp;&nbsp;**U.S. Government Mortgage-Backed Obligations — 13.9%** |
| &nbsp;&nbsp; 893803 | &nbsp;&nbsp;FHLMC, Pool #SD8186, 3.500%, 11/1/51 | &nbsp;&nbsp; 834038 |
| &nbsp;&nbsp; 3358000 | &nbsp;&nbsp;FHLMC, Pool #WN2314, 4.650%, 1/1/33 | &nbsp;&nbsp; 3356086 |
| &nbsp;&nbsp; 4975303 | &nbsp;&nbsp;FHLMC REMIC, Pool #RA8086, 5.000%, 10/1/52 | &nbsp;&nbsp; 5024913 |
| &nbsp;&nbsp; 5140309 | &nbsp;&nbsp;FHLMC REMIC, Pool #SD7152, 6.000%, 11/1/54 | &nbsp;&nbsp; 5338589 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;FHLMC REMIC, Pool #WN2381, 4.450%, 4/1/30 | &nbsp;&nbsp; 2011806 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;FHLMC REMIC, Pool #WN2615, 4.150%, 6/1/31 | &nbsp;&nbsp; 2972107 |
| &nbsp;&nbsp; 421601 | &nbsp;&nbsp;FNMA, Pool #888829, 5.926%, 6/1/37<sup>(A)(B)</sup> | &nbsp;&nbsp; 420466 |
| &nbsp;&nbsp; 343596 | &nbsp;&nbsp;FNMA, Pool #AH8854, 4.500%, 4/1/41 | &nbsp;&nbsp; 346169 |
| &nbsp;&nbsp; 3982037 | &nbsp;&nbsp;FNMA, Pool #AM9682, 3.810%, 8/1/45 | &nbsp;&nbsp; 3462878 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;FNMA, Pool #AN2418, 2.120%, 9/1/26 | &nbsp;&nbsp; 2961002 |
| &nbsp;&nbsp; 1213851 | &nbsp;&nbsp;FNMA, Pool #AN6828, 3.060%, 9/1/32 | &nbsp;&nbsp; 1178153 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;FNMA, Pool #AN8089, 3.330%, 1/1/38 | &nbsp;&nbsp; 2575401 |
| &nbsp;&nbsp; 84857 | &nbsp;&nbsp;FNMA, Pool #AT0924, 2.000%, 3/1/28 | &nbsp;&nbsp; 82873 |
| &nbsp;&nbsp; 3860363 | &nbsp;&nbsp;FNMA, Pool #BL3622, 2.600%, 8/1/26 | &nbsp;&nbsp; 3822823 |
| &nbsp;&nbsp; 3356808 | &nbsp;&nbsp;FNMA, Pool #BS5630, 3.790%, 11/1/32 | &nbsp;&nbsp; 3242160 |
| &nbsp;&nbsp; 2613209 | &nbsp;&nbsp;FNMA, Pool #CB0455, 2.500%, 5/1/51 | &nbsp;&nbsp; 2232107 |
| &nbsp;&nbsp; 1197379 | &nbsp;&nbsp;FNMA, Pool #FM3442, 3.000%, 6/1/50 | &nbsp;&nbsp; 1073121 |
| &nbsp;&nbsp; 6570683 | &nbsp;&nbsp;FNMA, Pool #FS1887, 3.000%, 5/1/47 | &nbsp;&nbsp; 5883050 |
| &nbsp;&nbsp; 2583624 | &nbsp;&nbsp;FNMA, Pool #FS7798, 6.000%, 6/1/54 | &nbsp;&nbsp; 2685310 |
| &nbsp;&nbsp; 3123533 | &nbsp;&nbsp;FNMA, Pool #MA4269, 2.500%, 2/1/41 | &nbsp;&nbsp; 2806857 |
| &nbsp;&nbsp; 1090856 | &nbsp;&nbsp;FNMA, Pool #MA4416, 3.500%, 9/1/51 | &nbsp;&nbsp; 1017027 |
| &nbsp;&nbsp; 3930561 | &nbsp;&nbsp;FNMA, Pool #MA4709, 5.000%, 7/1/52 | &nbsp;&nbsp; 3941032 |
| &nbsp;&nbsp; 3339555 | &nbsp;&nbsp;FNMA, Pool #MA4783, 4.000%, 10/1/52 | &nbsp;&nbsp; 3186492 |
| &nbsp;&nbsp; 6805658 | &nbsp;&nbsp;FNMA, Pool #MA4784, 4.500%, 10/1/52 | &nbsp;&nbsp; 6683382 |
| &nbsp;&nbsp; 3810671 | &nbsp;&nbsp;FNMA, Pool #MA5073, 6.000%, 7/1/53 | &nbsp;&nbsp; 3921522 |
| &nbsp;&nbsp; 5375454 | &nbsp;&nbsp;GNMA, Pool #MA8795, 2.500%, 4/20/53 | &nbsp;&nbsp; 4659306 |
| &nbsp;&nbsp; 4423985 | &nbsp;&nbsp;GNMA, Pool #MA9171, 5.500%, 9/20/53 | &nbsp;&nbsp; 4502042 |
| &nbsp;&nbsp; 2268131 | &nbsp;&nbsp;GNMA, Pool #MA9418, 3.000%, 1/20/54 | &nbsp;&nbsp; 2052322 |
|  | &nbsp;&nbsp;**Total U.S. Government Mortgage-Backed Obligations** | &nbsp;&nbsp; $82273034 |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 11.8%** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 11.8%** |
| &nbsp;&nbsp; 2081725 | &nbsp;&nbsp;Fannie Mae-Aces, Ser 2017-M15, Class ATS2, 3.158%, 11/25/27<sup>(A)(B)</sup> | &nbsp;&nbsp; 2059539 |
| &nbsp;&nbsp; 187377 | &nbsp;&nbsp;FHLMC Multifamily Structured Pass Through Certificates, Ser KW03, Class A1, 2.617%, 12/25/26 | &nbsp;&nbsp; 186111 |
| &nbsp;&nbsp; 5106120 | &nbsp;&nbsp;Freddie Mac Multiclass Certificates Series, Ser 2024-P015, Class A, 4.296%, 1/25/33<sup>(A)(B)</sup> | &nbsp;&nbsp; 5049245 |
| &nbsp;&nbsp; 2450000 | &nbsp;&nbsp;FREMF Mortgage Trust, Ser 2017-K61, Class B, 144a, 3.699%, 12/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 2426006 |
| &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;FREMF Mortgage Trust, Ser 2018-K74, Class B, 144a, 4.093%, 2/25/51<sup>(A)(B)</sup> | &nbsp;&nbsp; 1186745 |
| &nbsp;&nbsp; 505307 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2015-SB9, Class A5, (SOFR30A + 0.814%), 4.823%, 11/25/35<sup>(A)</sup> | &nbsp;&nbsp; 502918 |
| &nbsp;&nbsp; 4516 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2016-SB17, Class A5H, (SOFR30A + 0.814%), 4.823%, 5/25/36<sup>(A)</sup> | &nbsp;&nbsp; 4500 |
| &nbsp;&nbsp; 125814 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2017-SB27, Class A10F, 3.090%, 1/25/27<sup>(A)(B)</sup> | &nbsp;&nbsp; 124848 |
| &nbsp;&nbsp; 1852996 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2018-SB46, Class A10F, 3.300%, 12/25/27<sup>(A)(B)</sup> | &nbsp;&nbsp; 1824822 |
| &nbsp;&nbsp; 2127058 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2018-SB54, Class A10F, 3.520%, 5/25/28<sup>(A)(B)</sup> | &nbsp;&nbsp; 2102246 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 11.8%<br> (Continued)** | &nbsp;&nbsp;**Agency Collateralized Mortgage Obligations — 11.8%<br> (Continued)** |
| $2282262 | &nbsp;&nbsp;FRESB Mortgage Trust, Ser 2018-SB55, Class A10F, 3.754%, 9/25/28<sup>(A)(B)</sup> | $2262067 |
| &nbsp;&nbsp; 155149 | &nbsp;&nbsp;GNMA, Pool #785631, 4.585%, 5/20/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 155456 |
| &nbsp;&nbsp; 246963 | &nbsp;&nbsp;GNMA, Ser 2012-46, Class C, 3.176%, 5/16/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 244336 |
| &nbsp;&nbsp; 471895 | &nbsp;&nbsp;GNMA, Ser 2013-121, Class AB, 3.021%, 8/16/44<sup>(A)(B)</sup> | &nbsp;&nbsp; 449985 |
| &nbsp;&nbsp; 15569 | &nbsp;&nbsp;GNMA, Ser 2013-59, Class A, 1.750%, 7/16/45 | &nbsp;&nbsp; 14717 |
| &nbsp;&nbsp; 2540000 | &nbsp;&nbsp;GNMA, Ser 2015-32, Class HG, 3.000%, 9/16/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 2122528 |
| &nbsp;&nbsp; 344684 | &nbsp;&nbsp;GNMA, Ser 2015-37, Class AD, 2.600%, 11/16/55 | &nbsp;&nbsp; 326702 |
| &nbsp;&nbsp; 969593 | &nbsp;&nbsp;GNMA, Ser 2015-73, Class B, 2.700%, 10/16/55<sup>(A)(B)</sup> | &nbsp;&nbsp; 901506 |
| &nbsp;&nbsp; 667337 | &nbsp;&nbsp;GNMA, Ser 2017-46, Class AB, 2.600%, 1/16/52 | &nbsp;&nbsp; 579553 |
| &nbsp;&nbsp; 354741 | &nbsp;&nbsp;GNMA, Ser 2017-H11, Class FV, (TSFR1M + 0.614%), 4.614%, 5/20/67<sup>(A)</sup> | &nbsp;&nbsp; 354817 |
| &nbsp;&nbsp; 345848 | &nbsp;&nbsp;GNMA, Ser 2019-H15, Class GA, 2.250%, 8/20/69 | &nbsp;&nbsp; 337132 |
| &nbsp;&nbsp; 3628769 | &nbsp;&nbsp;GNMA, Ser 2020-113, Class AF, 2.000%, 10/16/62 | &nbsp;&nbsp; 2486537 |
| &nbsp;&nbsp; 4786512 | &nbsp;&nbsp;GNMA, Ser 2020-118, Class AB, 2.250%, 4/16/62 | &nbsp;&nbsp; 3906120 |
| &nbsp;&nbsp; 2125253 | &nbsp;&nbsp;GNMA, Ser 2021-21, Class AF, 1.750%, 6/16/63 | &nbsp;&nbsp; 1506314 |
| &nbsp;&nbsp; 3628867 | &nbsp;&nbsp;GNMA, Ser 2021-22, Class AD, 1.350%, 10/16/62 | &nbsp;&nbsp; 2715932 |
| &nbsp;&nbsp; 3091609 | &nbsp;&nbsp;GNMA, Ser 2025-126, Class BA, 5.550%, 5/16/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 3248917 |
| &nbsp;&nbsp; 5981946 | &nbsp;&nbsp;GNMA, Ser 2025-142, Class BA, 5.350%, 3/16/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 6244773 |
| &nbsp;&nbsp; 6975201 | &nbsp;&nbsp;GNMA, Ser 2025-145, Class AK, 5.594%, 5/16/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 7364636 |
| &nbsp;&nbsp; 5988950 | &nbsp;&nbsp;GNMA, Ser 2025-153, Class AK, 5.740%, 8/16/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 6349423 |
| &nbsp;&nbsp; 6828219 | &nbsp;&nbsp;GNMA, Ser 2025-162, Class BA, 5.433%, 2/16/68<sup>(A)(B)</sup> | &nbsp;&nbsp; 7161128 |
| &nbsp;&nbsp; 5871365 | &nbsp;&nbsp;GNMA, Ser 2025-185, Class AM, 5.310%, 10/16/67<sup>(A)(B)</sup> | &nbsp;&nbsp; 6051550 |
|  | &nbsp;&nbsp;**Total Agency Collateralized Mortgage Obligations** | &nbsp;&nbsp; $70251109 |
|  | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.0%** | &nbsp;&nbsp;**U.S. Treasury Obligations — 9.0%** |
| &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;U.S. Treasury Bond, 1.875%, 2/15/51 | &nbsp;&nbsp; 5054414 |
| &nbsp;&nbsp;13500000 | &nbsp;&nbsp;U.S. Treasury Bond, 2.250%, 8/15/46 | &nbsp;&nbsp; 8922656 |
| &nbsp;&nbsp;18140000 | &nbsp;&nbsp;U.S. Treasury Bond, 2.875%, 5/15/52 | &nbsp;&nbsp; 12734138 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;U.S. Treasury Note, 1.125%, 2/15/31 | &nbsp;&nbsp; 1762734 |
| &nbsp;&nbsp;21540000 | &nbsp;&nbsp;U.S. Treasury Strip, Principal, 5/15/43<sup>(C)</sup> | &nbsp;&nbsp; 9342923 |
| &nbsp;&nbsp;19894000 | &nbsp;&nbsp;U.S. Treasury Strip, Principal, 5/15/45<sup>(C)</sup> | &nbsp;&nbsp; 7725039 |
| &nbsp;&nbsp;26500000 | &nbsp;&nbsp;U.S. Treasury Strip, Principal, 2/15/51<sup>(C)</sup> | &nbsp;&nbsp; 7585234 |
|  | &nbsp;&nbsp;**Total U.S. Treasury Obligations** | &nbsp;&nbsp; $53127138 |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 7.8%** | &nbsp;&nbsp;**Asset-Backed Securities — 7.8%** |
| &nbsp;&nbsp; 1546152 | &nbsp;&nbsp;321 Henderson Receivables I LLC, Ser 2012-1A, Class A, 144a, 4.210%, 2/16/65 | &nbsp;&nbsp; 1501107 |
| &nbsp;&nbsp; 793823 | &nbsp;&nbsp;321 Henderson Receivables I LLC, Ser 2012-2A, Class A, 144a, 3.840%, 10/15/59 | &nbsp;&nbsp; 744284 |
| &nbsp;&nbsp; 2433802 | &nbsp;&nbsp;321 Henderson Receivables I LLC, Ser 2015-2A, Class A, 144a, 3.870%, 3/15/58 | &nbsp;&nbsp; 2276878 |
| &nbsp;&nbsp; 2274301 | &nbsp;&nbsp;CF Hippolyta Issuer LLC, Ser 2021-1A, Class A1, 144a, 1.530%, 3/15/61 | &nbsp;&nbsp; 1836271 |
| &nbsp;&nbsp; 2979475 | &nbsp;&nbsp;Compass Datacenters Issuer II LLC, Ser 2025-2A, Class A1, 144a, 4.926%, 11/25/50 | &nbsp;&nbsp; 2976630 |
| &nbsp;&nbsp; 2733159 | &nbsp;&nbsp;JG Wentworth XLII LLC, Ser 2018-2A, Class A, 144a, 3.960%, 10/15/75 | &nbsp;&nbsp; 2567659 |
| &nbsp;&nbsp; 1177738 | &nbsp;&nbsp;JGWPT XXVII LLC, Ser 2012-3A, Class A, 144a, 3.220%, 9/15/65 | &nbsp;&nbsp; 1079165 |
| &nbsp;&nbsp; 1313446 | &nbsp;&nbsp;JGWPT XXXI LLC, Ser 2014-1A, Class A, 144a, 3.960%, 3/15/63 | &nbsp;&nbsp; 1241563 |
| &nbsp;&nbsp; 935126 | &nbsp;&nbsp;JGWPT XXXIV LLC, Ser 2015-1A, Class A, 144a, 3.260%, 9/15/72 | &nbsp;&nbsp; 831592 |
| &nbsp;&nbsp; 4445000 | &nbsp;&nbsp;Louisiana Local Government Environmental Fac. & Community Development Auth, Revenue, Ser 2022-ELL, Class A2, 4.145%, 2/1/33 | &nbsp;&nbsp; 4448460 |
| &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 42 Ltd. (Cayman Islands), Ser 2021-42A, Class AR, 144a, (TSFR3M + 0.950%), 4.844%, 7/16/36<sup>(A)</sup> | &nbsp;&nbsp; 3499674 |
| &nbsp;&nbsp; 848568 | &nbsp;&nbsp;Oklahoma Development Finance Auth., Revenue, Ser 2022-ONG, Class A1, 3.877%, 5/1/37 | &nbsp;&nbsp; 834378 |

---

------

Touchstone US Quality Bond Fund (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Asset-Backed Securities — 7.8% (Continued)** | &nbsp;&nbsp;**Asset-Backed Securities — 7.8% (Continued)** |
| $320000 | &nbsp;&nbsp;Progress Residential Trust, Ser 2025-SFR4, Class B, 144a, 4.700%, 8/17/42 | $318010 |
| &nbsp;&nbsp; 3030000 | &nbsp;&nbsp;QTS Issuer ABS I LLC, Ser 2025-1A, Class A2, 144a, 5.439%, 5/25/55 | &nbsp;&nbsp; 3051311 |
| &nbsp;&nbsp; 3771765 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2021-10B, Class 1, 1.304%, 9/10/31 | &nbsp;&nbsp; 3360569 |
| &nbsp;&nbsp; 4288365 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2021-25I, Class 1, 1.560%, 9/1/46 | &nbsp;&nbsp; 3512867 |
| &nbsp;&nbsp; 2764068 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-10B, Class 1, 5.688%, 9/10/33 | &nbsp;&nbsp; 2844807 |
| &nbsp;&nbsp; 3455375 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-25G, Class 1, 5.180%, 7/1/48 | &nbsp;&nbsp; 3536862 |
| &nbsp;&nbsp; 2793103 | &nbsp;&nbsp;Small Business Administration Participation Certificates, Ser 2023-25H, Class 1, 5.150%, 8/1/48 | &nbsp;&nbsp; 2852333 |
| &nbsp;&nbsp; 434363 | &nbsp;&nbsp;Sunnova Hestia I Issuer LLC, Ser 2023-GRID1, Class 1A, 144a, 5.750%, 12/20/50 | &nbsp;&nbsp; 434684 |
| &nbsp;&nbsp; 2546435 | &nbsp;&nbsp;Sunnova Hestia II Issuer LLC, Ser 2024-GRID1, Class 1A, 144a, 5.630%, 7/20/51 | &nbsp;&nbsp; 2530967 |
|  | &nbsp;&nbsp;**Total Asset-Backed Securities** | &nbsp;&nbsp; $46280071 |
|  | &nbsp;&nbsp;**Municipal Bonds — 5.0%** |  |
|  | &nbsp;&nbsp;**California — 2.0%** |  |
| &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;California Health Facilities Financing Authority, 2.704%, 6/1/30 | &nbsp;&nbsp; 951175 |
| &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;California Health Facilities Financing Authority, 2.229%, 6/1/32 | &nbsp;&nbsp; 1777755 |
| &nbsp;&nbsp; 875000 | &nbsp;&nbsp;California Health Facilities Financing Authority, 4.140%, 6/1/34 | &nbsp;&nbsp; 856209 |
| &nbsp;&nbsp; 1520000 | &nbsp;&nbsp;California Municipal Finance Authority, Revenue, 2.519%, 10/1/35 | &nbsp;&nbsp; 1128207 |
| &nbsp;&nbsp; 1465000 | &nbsp;&nbsp;City of San Francisco Public Utilities Commission Water Revenue, Build America Bonds, 6.950%, 11/1/50 | &nbsp;&nbsp; 1629018 |
| &nbsp;&nbsp; 2345000 | &nbsp;&nbsp;East Bay Municipal Utility District Water System Revenue, Build America Bonds Sub, 5.874%, 6/1/40 | &nbsp;&nbsp; 2485340 |
| &nbsp;&nbsp; 2675000 | &nbsp;&nbsp;State of California, Build America Bonds, UTGO, 7.300%, 10/1/39 | &nbsp;&nbsp; 3113092 |
|  |  | &nbsp;&nbsp; 11940796 |
|  | &nbsp;&nbsp;**Texas — 0.9%** |  |
| &nbsp;&nbsp; 1770000 | &nbsp;&nbsp;Dallas Area Rapid Transit, Revenue, Build America Bonds, 5.999%, 12/1/44 | &nbsp;&nbsp; 1853583 |
| &nbsp;&nbsp; 2640000 | &nbsp;&nbsp;Texas Department of Transportation State Highway Fund, Build America Bonds, Revenue, 5.178%, 4/1/30 | &nbsp;&nbsp; 2701191 |
| &nbsp;&nbsp; 1275990 | &nbsp;&nbsp;Travis County Housing Finance Corp, Revenue, 2.550%, 7/1/42 | &nbsp;&nbsp; 855843 |
|  |  | &nbsp;&nbsp; 5410617 |
|  | &nbsp;&nbsp;**Oklahoma — 0.5%** |  |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;Oklahoma Development Finance Auth., Revenue, 5.087%, 2/1/52 | &nbsp;&nbsp; 2912177 |
|  | &nbsp;&nbsp;**Virginia — 0.4%** |  |
| &nbsp;&nbsp; 832526 | &nbsp;&nbsp;Virginia Housing Development Authority, 2.950%, 10/25/49 | &nbsp;&nbsp; 726012 |
| &nbsp;&nbsp; 2187534 | &nbsp;&nbsp;Virginia Housing Development Authority, 2.125%, 7/25/51 | &nbsp;&nbsp; 1737231 |
|  |  | &nbsp;&nbsp; 2463243 |
|  | &nbsp;&nbsp;**New York — 0.4%** |  |
| &nbsp;&nbsp; 1135000 | &nbsp;&nbsp;Port Authority of New York & New Jersey, 4.960%, 8/1/46 | &nbsp;&nbsp; 1057893 |
| &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;Port Authority of New York and New Jersey, Cons One Hundred Sixty-Eight, 4.926%, 10/1/51 | &nbsp;&nbsp; 1303842 |
|  |  | &nbsp;&nbsp; 2361735 |

---

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Market<br> Value** |
|  | &nbsp;&nbsp;**Municipal Bonds — 5.0% (Continued)** |  |
|  | &nbsp;&nbsp;**Minnesota — 0.4%** |  |
| $2980246 | &nbsp;&nbsp;Minnesota Housing Finance Agency, Revenue, 1.580%, 2/1/51 | $2269298 |
|  | &nbsp;&nbsp;**Nevada — 0.2%** |  |
| &nbsp;&nbsp; 1409576 | &nbsp;&nbsp;Nevada Housing Division, Revenue, 1.900%, 11/1/44 | &nbsp;&nbsp; 1176295 |
|  | &nbsp;&nbsp;**Ohio — 0.2%** |  |
| &nbsp;&nbsp; 1138000 | &nbsp;&nbsp;Ohio State HFA, Revenue, 2.650%, 11/1/41 | &nbsp;&nbsp; 1006657 |
|  | &nbsp;&nbsp;**Louisiana — 0.0%** |  |
| &nbsp;&nbsp; 281199 | &nbsp;&nbsp;Louisiana Housing Corp., 2.875%, 11/1/38 | &nbsp;&nbsp; 245594 |
|  | &nbsp;&nbsp;**Total Municipal Bonds** | &nbsp;&nbsp; $29786412 |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 4.4%** | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities — 4.4%** |
| &nbsp;&nbsp; 2986455 | &nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C27, Class A2, 5.550%, 7/15/57 | &nbsp;&nbsp; 3087146 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;BMO Mortgage Trust, Ser 2024-5C7, Class A2, 5.092%, 11/15/57 | &nbsp;&nbsp; 3066360 |
| &nbsp;&nbsp; 780000 | &nbsp;&nbsp;BX Trust, Ser 2025-VLT7, Class A, 144a, (TSFR1M + 1.700%), 5.450%, 7/15/44<sup>(A)</sup> | &nbsp;&nbsp; 781209 |
| &nbsp;&nbsp; 380000 | &nbsp;&nbsp;BX Trust, Ser 2025-VLT7, Class B, 144a, (TSFR1M + 2.000%), 5.750%, 7/15/44<sup>(A)</sup> | &nbsp;&nbsp; 380589 |
| &nbsp;&nbsp; 14529 | &nbsp;&nbsp;CD Mortgage Trust, Ser 2006-CD3, Class AJ, 5.688%, 10/15/48 | &nbsp;&nbsp; 13762 |
| &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;CHI Commercial Mortgage Trust, Ser 2025-SFT, Class A, 144a, 5.482%, 4/15/42<sup>(A)(B)</sup> | &nbsp;&nbsp; 2923019 |
| &nbsp;&nbsp; 2985000 | &nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2020-555, Class A, 144a, 2.647%, 12/10/41 | &nbsp;&nbsp; 2725826 |
| &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;DOLP Trust, Ser 2021-NYC, Class A, 144a, 2.956%, 5/10/41 | &nbsp;&nbsp; 2697432 |
| &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;FREMF Mortgage Trust, Ser 2017-K65, Class B, 144a, 4.083%, 7/25/50<sup>(A)(B)</sup> | &nbsp;&nbsp; 1445118 |
| &nbsp;&nbsp; 2545000 | &nbsp;&nbsp;FREMF Mortgage Trust, Ser 2017-K66, Class B, 144a, 4.037%, 7/25/27<sup>(A)(B)</sup> | &nbsp;&nbsp; 2532627 |
| &nbsp;&nbsp; 525000 | &nbsp;&nbsp;FREMF Mortgage Trust, Ser 2017-K69, Class B, 144a, 3.726%, 10/25/49<sup>(A)(B)</sup> | &nbsp;&nbsp; 518044 |
| &nbsp;&nbsp; 2349808 | &nbsp;&nbsp;Logistics 1 MI TN VA Senior Notes CTL Pass-Through Trust, 144a, 2.654%, 10/10/42 | &nbsp;&nbsp; 1912652 |
| &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;MKT Mortgage Trust, Ser 2020-525M, Class A, 144a, 2.694%, 2/12/40 | &nbsp;&nbsp; 2310332 |
| &nbsp;&nbsp; 2185000 | &nbsp;&nbsp;SLG Office Trust, Ser 2021-OVA, Class A, 144a, 2.585%, 7/15/41 | &nbsp;&nbsp; 1955698 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** | &nbsp;&nbsp; $26349814 |
|  | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 0.1%** | &nbsp;&nbsp;**Non-Agency Collateralized Mortgage Obligations — 0.1%** |
| &nbsp;&nbsp; 336769 | &nbsp;&nbsp;Virginia Housing Development Auth., Revenue, Ser 2013-B, Class A, 2.750%, 4/25/42 | &nbsp;&nbsp; 283080 |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
|  | &nbsp;&nbsp;**Short-Term Investment Fund — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;381093 | &nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.65%<sup>∞Ω</sup> | &nbsp;&nbsp; 381093 |
|  | &nbsp;&nbsp;**Total Investment Securities—99.3%<br> (Cost $619,156,079)** | $589379960 |
|  | &nbsp;&nbsp;**Other Assets in Excess of Liabilities — 0.7%** | &nbsp;&nbsp; 4325469 |
|  | &nbsp;&nbsp;**Net Assets — 100.0%** | $593705429 |

---

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

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

------

Touchstone US Quality Bond Fund (Unaudited) (Continued)

*(C)* *Strip Security- Separate trading of Registered Interest and Principal. Holders of a principal strip security are entitled to the portion of the payment representing principal only.* 

*∞* *Open-End Fund.* 

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

---

| |
|:---|
| ***Portfolio Abbreviations:*** |
| *ABS – Asset-Backed Security* |
| *CLO – Collateralized Loan Obligation* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *FNMA – Federal National Mortgage Association* |
| *FREMF – Freddie Mac Multifamily Securitization* |
| *FRESB – Freddie Mac Multifamily Securitization Small Balance Loan* |
| *GNMA – Government National Mortgage Association* |
| *HFA – Housing Finance Authority/Agency* |
| *LLC – Limited Liability Company* |
| *LP – Limited Partnership* |
| *MTN – Medium Term Note* |
| *REIT – Real Estate Investment Trust* |
| *REMIC – Real Estate Mortgage Investment Conduit* |
| *SOFR30A – Secured Overnight Financing Rate 30 Day Average* |
| *TSFR1M – One Month Term Secured Overnight Financing Rate* |
| *TSFR3M – Three Month Term Secured Overnight Financing Rate* |
| *UTGO – Unlimited Tax General Obligation* |
| *144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, these securities were valued at $78,775,768 or 13.3% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.* |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** | ***Valuation Inputs at Reporting Date:*** |
| ***Description*** | ***Level 1*** | ***Level 2*** | ***Level 3*** | ***Total*** |
| *Corporate Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*$—* | *$147440298* | *$—* | *$147440298* |
| *U.S. Government Agency Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*133207911* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*133207911* |
| *U.S. Government Mortgage-Backed Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*82273034* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*82273034* |
| *Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*70251109* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*70251109* |
| *U.S. Treasury Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*53127138* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*53127138* |
| *Asset-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*46280071* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*46280071* |
| *Municipal Bonds* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*29786412* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*29786412* |
| *Commercial Mortgage-Backed Securities* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*26349814* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;*26349814* |
| *Non-Agency Collateralized Mortgage Obligations* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*283080* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*283080* |
| *Short-Term Investment Fund* | &nbsp;&nbsp;&nbsp;*381093* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;*—* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*381093* |
| *Total* | *$381093* | *$588998867* | *$—* | *$589379960* |

---

*See accompanying Notes to Portfolios of Investments.*

------

Notes to Portfolios of Investments

December 31, 2025 (Unaudited)

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

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

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

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

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

The aggregate value by input level, as of December 31, 2025, for each Fund's investments, is included in each Fund's Portfolio of Investments. The Ares Credit Opportunities Fund held Level 3 categorized securities during the period ended December 31, 2025.

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

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

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

Foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of regular trading on the NYSE. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available and are categorized in Level 2.

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

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

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

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

------

Notes to Portfolios of Investments (Unaudited) (Continued)

• If the validity of market quotations is not reliable.

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

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

#### Security transactions —Security transactions are reflected for financial reporting purposes as of the trade date.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Touchstone Funds Group Trust

- **b. Investment Company Act file number:** 811-08104

- **c. CIK number of Registrant:** 0000914243

- **d. LEI of Registrant:** 5493006SE4K8V7N8TJ90

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

  - **Street Address 1:** 303 Broadway

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45202

  - **Telephone number:** 8006388194

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

- **a. Name of Series:** Touchstone Funds Group Trust-Touchstone Mid Cap Fund

- **b. EDGAR series identifier (if any):** S000005842

- **c. LEI of Series:** 549300QOY7LY5MFRHV53

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $5113280946.93

**Total Liabilities:** $8337754.61

**Net Assets:** $5104943192.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016016 | -1.99%               | 3.82%                | 1.11%                |
| Class ID C000039629 | -2.01%               | 3.79%                | 1.11%                |
| Class ID C000048891 | -2.00%               | 3.80%                | 1.09%                |
| Class ID C000048892 | -2.06%               | 3.74%                | 1.02%                |
| Class ID C000112484 | -1.98%               | 3.83%                | 1.12%                |
| Class ID C000226003 | -1.98%               | 3.84%                | 1.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $28298567.85             | $-139670754.04                             |
| Month 2  | $18854834.47             | $170865888.31                              |
| Month 3  | $18891928.78             | $38524367.15                               |

### Schedule of Portfolio Investments

| Name                                       | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Steris PLC                                 | Steris PLC ORD USD0.001                                | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    683284 | NS      | $173226159.68 | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.             | Old Dominion Freight Line Inc. COM USD0.10             | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |    534975 | NS      | $83884080.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                       | Otis Worldwide Corp. COM                               | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |   1705562 | NS      | $148980840.70 | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corporation           | Cincinnati Financial Corporation COM USD2.00           | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |    831594 | NS      | $135815932.08 | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.                 | The Cooper Companies, Inc. COM                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |   1917434 | NS      | $157152890.64 | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                 | Copart Inc COM USD0.0001                               | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |   2786105 | NS      | $109076010.75 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                               | Entegris Inc COM USD0.01                               | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |   2076338 | NS      | $174931476.50 | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptargroup Inc.                            | Aptargroup Inc. COM USD0.01                            | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |    842188 | NS      | $102713248.48 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmarket Corporation                      | Newmarket Corporation COM NPV                          | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |    211871 | NS      | $145610463.46 | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                               | Moelis & Co. COM USD0.01 CL'A'                         | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |   2309396 | NS      | $158747881.04 | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc.                  | Lennox International Inc. COM USD0.01                  | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |    291322 | NS      | $141460136.76 | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Unifirst Corp                              | Unifirst Corp COM USD0.10                              | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |    577349 | NS      | $111370622.10 | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company                   | Vulcan Materials Company COM STK USD1                  | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |    593239 | NS      | $169203627.58 | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                       | Amphenol Corporation CL'A'COM USD0.001                 | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    482007 | NS      | $65138425.98  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies, Inc.                | Keysight Technologies, Inc. COM USD0.01 WD             | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |    847485 | NS      | $172200477.15 | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                   | Lamb Weston Holdings Inc COM USD1.00                   | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |   1520175 | NS      | $63680130.75  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc.              | Somnigroup International Inc. COM USD0.01              | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |   2722545 | NS      | $243068817.60 | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corporation                         | Waters Corporation COM USD0.01                         | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    360181 | NS      | $136807549.23 | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries, Inc.           | Armstrong World Industries, Inc. COM STK USD0.01       | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |   1271227 | NS      | $242931479.70 | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc.                        | Ally Financial Inc. COM USD0.01                        | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |   3983177 | NS      | $180398086.33 | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                            | CBRE Group Inc. COM USD0.01 CLASS A                    | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |   1011685 | NS      | $162668831.15 | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                        | Churchill Downs Inc COM NPV                            | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |   2039260 | NS      | $232027002.80 | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                            | Dollar Tree Inc COM USD0.01                            | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |   2335879 | NS      | $287336475.79 | 5.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc          | Allison Transmission Holdings Inc COM USD0.01          | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |   1938621 | NS      | $189790995.90 | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings N.V.                       | AerCap Holdings N.V. EUR0.01                           | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |   2023370 | NS      | $290879671.20 | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp.                         | Brown-Forman Corp. COM USD0.15 CLASS B                 | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Long             | EC               | CORP              | US        |   1101729 | NS      | $28711057.74  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corporation                           | Ball Corporation COM NPV                               | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |   2319989 | NS      | $122889817.33 | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                       | M&T Bank Corporation COM USD0.50                       | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |    900453 | NS      | $181423270.44 | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corporation                           | Pool Corporation COM USD0.001                          | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |    407852 | NS      | $93296145.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc.                         | Post Holdings Inc. COM USD0.01                         | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |   1128214 | NS      | $111749596.70 | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management Funds   | Dreyfus Government Cash Management Funds SH BEN INT    | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        | 106822064 | NS      | $106822064.43 | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                | Avantor Inc COM USD0.01                                | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  11223873 | NS      | $128625584.58 | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corporation                         | Bruker Corporation COM USD0.01                         | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |   2261724 | NS      | $106549817.64 | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc | Fidelity National Information Services Inc COM USD0.01 | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |   2219351 | NS      | $147498067.46 | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** Touchstone Funds Group Trust

**Signature:** Terri Lucas

**Name of Signer:** Terri Lucas

**Title:** Controller & Treasurer