TRS 4 1/8 04/15/29

0001752724-23-187647.txt : 20230824 0001752724-23-187647.hdr.sgml : 20230824 20230824083524 ACCESSION NUMBER: 0001752724-23-187647 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20230824 DATE AS OF CHANGE: 20230824 PERIOD START: 20230930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIMOTHY PLAN CENTRAL INDEX KEY: 0000916490 IRS NUMBER: 597016828 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08228 FILM NUMBER: 231199027 BUSINESS ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32751 BUSINESS PHONE: 4076441986 MAIL ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32751

0000916490 S000017791 Timothy Plan High Yield Bond Fund

C000049122 Timothy Plan High Yield Bond Fund Class A TPHAX

C000065171 Timothy Plan High Yield Bond Fund Class C TPHCX

C000127001 Timothy Plan High Yield Bond Fund Class I TPHIX

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Institutional Cash Portfolios 549300SHPEJB1OPRCV46 FID-MM GOVT-I 316175108 4228090.51000000 PA USD 4228090.51000000 2.703230406093 Long STIV RF US N 1 N N N Petsmart Inc / Petsmart Financial Corporation N/A PETM 7 3/4 02/15/29 71677KAB4 1500000.00000000 PA USD 1492089.30000000 0.953967554579 Long DBT CORP US Y 2 2029-02-15 Fixed 7.75000000 N N N N N N Mozart Debt Merger Subordinated Inc. 254900QT3R363TVK6F09 MEDIND 3 7/8 04/01/29 62482BAA0 1000000.00000000 PA USD 867480.50000000 0.554623809198 Long DBT CORP US Y 2 2029-04-01 Fixed 3.87500000 N N N N N N Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation 549300T0G4GS0SINS786 IEP 4 3/8 02/01/29 451102CC9 1000000.00000000 PA USD 786730.00000000 0.502995962919 Long DBT CORP US N 2 2029-02-01 Fixed 4.37500000 N N N N N N Freedom Mortgage Corporation 549300LYRWPSYPK6S325 FREMOR 8 1/8 11/15/24 35640YAA5 115000.00000000 PA USD 114055.98000000 0.072921710735 Long DBT CORP US Y 2 2024-11-15 Fixed 8.12500000 N N N N N N Freedom Mortgage Corporation 549300LYRWPSYPK6S325 FREMOR 6 5/8 01/15/27 35640YAG2 1000000.00000000 PA USD 866751.40000000 0.554157658986 Long DBT CORP US Y 2 2027-01-15 Fixed 6.62500000 N N N N N N Energizer Holdings Inc 5493000D6NN0V57UME20 ENR 6 1/2 12/31/27 29272WAF6 1050000.00000000 PA USD 1010622.42000000 0.646141620753 Long DBT CORP US Y 2 2027-12-31 Fixed 6.50000000 N N N N N N BWX Technologies Inc 549300NP85N265KWMS58 BWXT 4 1/8 04/15/29 05605HAC4 500000.00000000 PA USD 452000.00000000 0.288986278951 Long DBT CORP US Y 2 2029-04-15 Fixed 4.12500000 N N N N N N Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp. N/A LADR 4 1/4 02/01/27 505742AM8 750000.00000000 PA USD 652302.75000000 0.417049877150 Long DBT CORP US Y 2 2027-02-01 Fixed 4.25000000 N N N N N N CQP Holdco LP & Bip-V Chinook Holdco LLC 549300LPL012JY5D4B69 BLKCQP 5 1/2 06/15/31 12657NAA8 3322000.00000000 PA USD 2968012.00000000 1.897598990626 Long DBT CORP US Y 2 2031-06-15 Fixed 5.50000000 N N N N N N ILFC E-Capital Trust II N/A AER 6 1/4 12/21/65 44965UAA2 1500000.00000000 PA USD 1048809.72000000 0.670556677678 Long DBT CORP US Y 2 2065-12-21 Floating 7.31428900 N N N N N N Waste Pro USA Inc 549300BY1QXU5BI3UF28 WASPRO 5 1/2 02/15/26 94107JAA1 1700000.00000000 PA USD 1578913.69000000 1.009478743492 Long DBT CORP US Y 2 2026-02-15 Fixed 5.50000000 N N N N N N Darling Ingredients, Inc L1N0SPPKS7EXZYUMZ898 DAR 6 06/15/30 237266AJ0 1350000.00000000 PA USD 1319928.70000000 0.843896644898 Long DBT CORP US Y 2 2030-06-15 Fixed 6.00000000 N N N N N N TMS International Corp 549300L4K0F1YF8WKF23 TMS 6 1/4 04/15/29 87261QAC7 3399000.00000000 PA USD 2858660.97000000 1.827685390495 Long DBT CORP US Y 2 2029-04-15 Fixed 6.25000000 N N N N N N Ashton Woods (USA) LLC/Ashton Woods Finance Co. N/A ASHWOO 6 5/8 01/15/28 045086AK1 500000.00000000 PA USD 478655.00000000 0.306028157857 Long DBT CORP US Y 2 2028-01-15 Fixed 6.62500000 N N N N N N Entegris Escrow Corp. IYX6OWO7BT5DKO3BYG52 ENTG 4 3/4 04/15/29 29365BAA1 1500000.00000000 PA USD 1389466.04000000 0.888355355373 Long DBT CORP US Y 2 2029-04-15 Fixed 4.75000000 N N N N N N PBF Holding Company LLC and PBF Finance Corp. 549300TILVIIV9FLL461 PBFENE 7 1/4 06/15/25 69318FAG3 275000.00000000 PA USD 274769.23000000 0.175673755194 Long DBT CORP US N 2 2025-06-15 Fixed 7.25000000 N N N N N N Pactiv Evergreen Group Issuer Incorporated / Pactiv Evergreen Group Issuer Llc N/A REYNOL 4 3/8 10/15/28 69527AAA4 3000000.00000000 PA USD 2601057.18000000 1.662986362362 Long DBT CORP US Y 2 2028-10-15 Fixed 4.37500000 N N N N N N Vista Ootdoor Inc 549300QI2D33ESTJLN81 VSTO 4 1/2 03/15/29 928377AC4 1000000.00000000 PA USD 810955.86000000 0.518484770741 Long DBT CORP US Y 2 2029-03-15 Fixed 4.50000000 N N N N N N Clean Harbors, Inc. 5493000SJVZVZJKHJF48 CLH 6 3/8 02/01/31 184496AQ0 1125000.00000000 PA USD 1133100.00000000 0.724447682919 Long DBT CORP US Y 2 2031-02-01 Fixed 6.37500000 N N N N N N Polar Us Borrower LLC / Schenectady International Group Inc. 549300VWTN2NKZWJ5F70 SIGRP 6 3/4 05/15/26 73103PAA5 2000000.00000000 PA USD 1184913.88000000 0.757574896148 Long DBT CORP US Y 2 2026-05-15 Fixed 6.75000000 N N N N N N Adient Global Holdings Ltd 213800VA38VCKE6M8790 ADNT 7 04/15/28 00687YAB1 1000000.00000000 PA USD 1011875.00000000 0.646942457995 Long DBT CORP JE Y 2 2028-04-15 Fixed 7.00000000 N N N N N N LPL Holdings Inc. 549300Z5YF8CCRMYUL26 LPLA 4 5/8 11/15/27 50212YAC8 500000.00000000 PA USD 469572.15000000 0.300221036123 Long DBT CORP US Y 2 2027-11-15 Fixed 4.62500000 N N N N N N Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. N/A CMLP 5 3/4 04/01/25 226373AP3 500000.00000000 PA USD 491703.36000000 0.314370629102 Long DBT CORP US N 2 2025-04-01 Fixed 5.75000000 N N N N N N Kaiser Aluminium Corporation N/A KALU 4 1/2 06/01/31 483007AL4 1250000.00000000 PA USD 1001387.50000000 0.640237273038 Long DBT CORP US Y 2 2031-06-01 Fixed 4.50000000 N N N N N N Diversified Healthcare Trust N/A DHC 9 3/4 06/15/25 25525PAA5 1500000.00000000 PA USD 1440693.45000000 0.921107608905 Long DBT CORP US N 2 2025-06-15 Fixed 9.75000000 N N N N N N Howard Hughes Corp 549300BVHY25JZC1KI49 HHC 4 3/8 02/01/31 44267DAF4 2749000.00000000 PA USD 2196505.98000000 1.404336481979 Long DBT CORP US Y 2 2031-02-01 Fixed 4.37500000 N N N N N N 2023-07-28 TIMOTHY PLAN Arthur D. Ally Arthur D. Ally President & Treasurer XXXX NPORT-EX 2 timothy-nq.htm TIMOTHY HIGH YIELD BOND 6.30.23

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 94.3%
		AEROSPACE & DEFENSE - 1.2%
	639	TransDigm Group, Inc.	$	571,375

		APPAREL & TEXTILE PRODUCTS - 6.7%
	26,304	Capri Holdings Ltd.^(a)		944,051
	4,109	Deckers Outdoor Corporation^(a)		2,168,154
				3,112,205
		BIOTECH & PHARMA - 2.1%
	2,460	Argenx S.E. - ADR^(a)		958,736

		CHEMICALS - 1.5%
	3,081	Albemarle Corporation		687,340

		DATA CENTER REIT - 1.6%
	6,383	Digital Realty Trust, Inc.		726,832

		DIVERSIFIED INDUSTRIALS - 1.8%
	5,493	Dover Corporation		811,041

		ELECTRICAL EQUIPMENT - 1.5%
	3,671	Trane Technologies PLC		702,115

		ENGINEERING & CONSTRUCTION - 2.7%
	6,411	Quanta Services, Inc.		1,259,441

		HEALTH CARE FACILITIES & SERVICES - 7.2%
	19,555	Cardinal Health, Inc.		1,849,317
	5,831	ICON PLC^(a)		1,458,916
				3,308,233
		HOME CONSTRUCTION - 1.0%
	3,674	Lennar Corporation, Class A		460,389

		INDUSTRIAL SUPPORT SERVICES - 4.2%
	4,355	United Rentals, Inc.		1,939,586

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 94.3% (Continued)
		LEISURE FACILITIES & SERVICES - 2.4%
	40,303	Bloomin’ Brands, Inc.	$	1,083,748

		MACHINERY - 8.1%
	6,510	Lincoln Electric Holdings, Inc.		1,293,081
	15,683	Oshkosh Corporation		1,357,992
	2,663	Parker-Hannifin Corporation		1,038,677
				3,689,750
		MEDICAL EQUIPMENT & DEVICES - 14.7%
	1,280	Align Technology, Inc.^(a)		452,659
	46,042	Avantor, Inc.^(a)		945,703
	10,100	DexCom, Inc.^(a)		1,297,951
	20,549	GE HealthCare Technologies, Inc.		1,669,400
	3,755	Insulet Corporation^(a)		1,082,717
	9,372	Zimmer Biomet Holdings, Inc.		1,364,563
				6,812,993
		OIL & GAS PRODUCERS - 5.5%
	7,072	Cheniere Energy, Inc.		1,077,491
	7,239	Devon Energy Corporation		349,933
	4,290	Diamondback Energy, Inc.		563,534
	13,055	EQT Corporation		536,952
				2,527,910
		RENEWABLE ENERGY - 1.4%
	3,453	First Solar, Inc.^(a)		656,381

		RETAIL - CONSUMER STAPLES - 1.4%
	4,338	Dollar Tree, Inc.^(a)		622,503

		RETAIL - DISCRETIONARY - 2.9%
	8,589	Burlington Stores, Inc.^(a)		1,351,823

		SEMICONDUCTORS - 9.4%
	1,932	KLA Corporation		937,059
	3,570	Monolithic Power Systems, Inc.		1,928,620
	11,565	ON Semiconductor Corporation^(a)		1,093,818

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 94.3% (Continued)
		SEMICONDUCTORS - 9.4% (Continued)
	3,217	Skyworks Solutions, Inc.	$	356,090
				4,315,587
		SOFTWARE - 10.8%
	4,864	Cadence Design Systems, Inc.^(a)		1,140,705
	9,732	Fortinet, Inc.^(a)		735,642
	8,700	Palo Alto Networks, Inc.^(a)		2,222,936
	6,230	Zscaler, Inc.^(a)		911,449
				5,010,732
		TECHNOLOGY HARDWARE - 3.6%
	6,203	Arista Networks, Inc.^(a)		1,005,258
	10,886	Seagate Technology Holdings plc		673,517
				1,678,775
		TECHNOLOGY SERVICES - 2.6%
	2,268	Globant S.A.^(a)		407,605
	1,678	MSCI, Inc.		787,469
				1,195,074

		TOTAL COMMON STOCKS (Cost $34,461,493)		43,482,569

		SHORT-TERM INVESTMENT — 5.7%
		MONEY MARKET FUND - 5.7%
	2,609,907	Fidelity Government Portfolio, Class I, 4.99% (Cost $2,609,907)^(b)		2,609,907

		TOTAL INVESTMENTS - 100.0% (Cost $37,071,400)	$	46,092,476
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(7,793	)
		NET ASSETS - 100.0%	$	46,084,683

ADR

- American Depositary Receipt

LTD

- Limited Company

MSCI

- Morgan Stanley Capital International

PLC

- Public Limited Company

REIT

- Real Estate Investment Trust

S/A

- Société Anonyme

^(a)

Non-income producing security.

^(b)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.5%
		AEROSPACE & DEFENSE - 3.0%
	82,000	Safran S.A. - ADR	$	3,217,680
	58,000	Thales S.A. - ADR		1,740,580
				4,958,260
		AUTOMOTIVE - 1.5%
	42,800	Magna International, Inc.		2,415,632

		BANKING - 11.2%
	45,739	DBS Group Holdings Ltd. - ADR		4,274,309
	105,000	DNB Bank ASA - ADR		1,985,550
	41,800	HDFC Bank Ltd. - ADR		2,913,460
	120,100	ICICI Bank Ltd. - ADR		2,771,908
	284,000	Itau Unibanco Holding S.A. - ADR		1,675,600
	93,600	KBC Group N.V. - ADR		3,267,576
	202,000	Sumitomo Mitsui Financial Group, Inc. - ADR		1,737,200
				18,625,603
		CHEMICALS - 2.0%
	90,420	Air Liquide S.A. - ADR		3,247,886

		CONSTRUCTION MATERIALS - 2.4%
	56,000	CRH plc - ADR		3,120,880
	27,500	Xinyi Glass Holdings Ltd. - ADR		864,325
				3,985,205
		ELECTRIC UTILITIES - 3.4%
	440,000	Enel - Societa per Azioni - ADR		2,943,600
	51,200	Iberdrola S.A. - ADR		2,676,224
				5,619,824
		ELECTRICAL EQUIPMENT - 3.3%
	79,000	Daikin Industries Ltd. - ADR		1,618,710
	104,600	Schneider Electric S.E. - ADR		3,803,256
				5,421,966
		ENGINEERING & CONSTRUCTION - 4.4%
	134,000	Cellnex Telecom S.A. - ADR		2,698,760
	155,000	Vinci S.A. - ADR		4,504,300
				7,203,060

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.5% (Continued)
		FOOD - 2.9%
	30,500	Kerry Group plc - ADR	$	2,997,235
	115,000	Mowi ASA - ADR		1,817,000
				4,814,235
		HEALTH CARE FACILITIES & SERVICES - 2.3%
	15,400	ICON PLC^(a)		3,853,080

		HOUSEHOLD PRODUCTS - 1.4%
	89,000	Beiersdorf A.G. - ADR		2,354,940

		INDUSTRIAL SUPPORT SERVICES - 1.7%
	10,000	Ashtead Group plc - ADR		2,790,000

		INSTITUTIONAL FINANCIAL SERVICES - 3.5%
	191,500	Deutsche Boerse A.G. - ADR		3,531,260
	86,000	London Stock Exchange Group plc - ADR		2,301,360
				5,832,620
		INSURANCE - 5.3%
	38,100	Ageas S.A./NV - ADR		1,545,336
	68,000	AIA Group Ltd. - ADR		2,769,640
	66,400	Muenchener Rueckversicherungs-Gesellschaft A.G. in - ADR		2,499,960
	81,000	Tokio Marine Holdings, Inc. - ADR		1,861,380
				8,676,316
		INTERNET MEDIA & SERVICES - 2.0%
	221,000	Prosus N.V. - ADR		3,248,700
	43,600	Yandex N.V., Class A^(a)(b)(c)		43,600
				3,292,300
		LEISURE FACILITIES & SERVICES - 1.6%
	48,000	Yum China Holdings, Inc.		2,712,000

		LEISURE PRODUCTS - 1.0%
	95,000	Shimano, Inc. - ADR		1,583,650

		MACHINERY - 5.4%
	244,000	Atlas Copco A.B. - ADR		3,059,760

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.5% (Continued)
		MACHINERY - 5.4% (Continued)
	98,000	FANUC Corporation - ADR	$	1,717,940
	77,150	Techtronic Industries Company Ltd. - ADR		4,228,592
				9,006,292
		MEDICAL EQUIPMENT & DEVICES - 8.4%
	54,400	Alcon, Inc.		4,466,784
	30,500	Hoya Corporation - ADR		3,640,480
	118,000	Olympus Corporation - ADR		1,866,760
	61,900	Smith & Nephew plc - ADR		1,996,275
	57,500	Sysmex Corporation - ADR		1,961,325
				13,931,624
		METALS & MINING - 1.1%
	28,300	Rio Tinto plc - ADR		1,806,672

		OIL & GAS PRODUCERS - 4.6%
	46,000	Canadian Natural Resources Ltd.		2,587,960
	155,000	Equinor ASA - ADR		4,527,550
	30,500	Petroleo Brasileiro S.A. - ADR		421,815
				7,537,325
		RETAIL - CONSUMER STAPLES - 1.5%
	115,000	Seven & i Holdings Company Ltd. - ADR		2,474,800

		RETAIL - DISCRETIONARY - 1.4%
	9,300	ANTA Sports Products Ltd. - ADR		2,382,986

		SEMICONDUCTORS - 6.3%
	5,750	ASML Holding N.V. - ADR		4,167,313
	9,000	NXP Semiconductors N.V.		1,842,120
	26,700	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		2,694,564
	25,200	Tokyo Electron Ltd. - ADR		1,813,140
				10,517,137
		SOFTWARE - 2.7%
	14,900	Nice Ltd. - ADR^(a)		3,076,850
	30,640	Open Text Corporation		1,273,092
				4,349,942

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.5% (Continued)
		SPECIALTY FINANCE - 2.1%
	37,400	ORIX Corporation - ADR	$	3,411,254

		TECHNOLOGY HARDWARE - 1.5%
	40,338	FUJIFILM Holdings Corporation - ADR		2,403,136

		TECHNOLOGY SERVICES - 3.7%
	62,500	Amadeus IT Group S.A. - ADR^(a)		4,760,000
	89,000	Infosys Ltd. - ADR		1,430,230
				6,190,230
		TRANSPORTATION & LOGISTICS - 3.0%
	61,800	Canadian Pacific Kansas City Ltd.		4,991,586

		WHOLESALE - CONSUMER STAPLES - 0.9%
	19,000	ITOCHU Corporation - ADR		1,508,980

		TOTAL COMMON STOCKS (Cost $132,099,934)		157,898,541

		SHORT-TERM INVESTMENT — 4.2%
		MONEY MARKET FUND - 4.2%
	6,881,557	Fidelity Government Portfolio, Class I, 4.98% (Cost $6,881,557)^(d)		6,881,557

		TOTAL INVESTMENTS - 99.7% (Cost $138,981,491)	$	164,780,098
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.3%		460,331
		NET ASSETS - 100.0%	$	165,240,429

ADR

- American Depositary Receipt

LTD

- Limited Company

- Naamioze Vennootschap

PLC

- Public Limited Company

S/A

- Société Anonyme

^(a)

Non-income producing security.

^(b)

Illiquid security. At June 30, 2023, the illiquid security amounted to 0.03% of net assets.

^(c)

The value of this security has been determined in good faith under policies approved by the Board of Trustees.

^(d)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

JUNE 30, 2023

Diversification of Assets
Country	% of Net Assets
Japan		16.7	%
France		10.0	%
Canada		6.8	%
Spain		6.1	%
Ireland		6.0	%
Netherlands		5.6	%
United Kingdom		5.4	%
Germany		5.1	%
Norway		5.0	%
India		4.3	%
Hong Kong		4.2	%
Belgium		2.9	%
Switzerland		2.7	%
Singapore		2.6	%
Cayman Islands		2.0	%
Israel		1.9	%
Sweden		1.9	%
Italy		1.8	%
United States		1.6	%
Taiwan Province Of China		1.6	%
Brazil		1.3	%
Total		95.5	%
Money Market Funds		4.2	%
Other Assets Less Liabilities - Net		0.3	%
Grand Total		100.0	%

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 84.1%
		AEROSPACE & DEFENSE - 1.7%
	2,878	TransDigm Group, Inc.	$	2,573,421

		AUTOMOTIVE - 0.4%
	2,530	Tesla, Inc.^(a)		662,278

		BANKING - 1.0%
	40,058	Western Alliance Bancorp		1,460,915

		BIOTECH & PHARMA - 4.4%
	10,927	Vertex Pharmaceuticals, Inc.^(a)		3,845,321
	16,776	Zoetis, Inc.		2,888,995
				6,734,316
		CABLE & SATELLITE - 1.3%
	3,137	Cable One, Inc.		2,061,260

		CHEMICALS - 3.9%
	19,904	FMC Corporation		2,076,783
	10,269	New Linde plc		3,913,311
				5,990,094
		CONSTRUCTION MATERIALS - 4.0%
	8,874	Martin Marietta Materials, Inc.		4,097,037
	15,126	Owens Corning		1,973,943
				6,070,980
		DATA CENTER REIT - 0.9%
	12,244	Digital Realty Trust, Inc.		1,394,224

		ELECTRIC UTILITIES - 1.2%
	25,433	NextEra Energy, Inc.		1,887,129

		ELECTRICAL EQUIPMENT - 4.3%
	38,579	Amphenol Corporation, Class A		3,277,286
	16,897	Fortive Corporation		1,263,389
	12,620	Keysight Technologies, Inc.^(a)		2,113,219
				6,653,894

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 84.1% (Continued)
		INFRASTRUCTURE REIT - 1.4%
	18,221	Crown Castle, Inc.	$	2,076,101

		INSTITUTIONAL FINANCIAL SERVICES - 1.5%
	20,318	Intercontinental Exchange, Inc.		2,297,559

		INSURANCE - 4.2%
	17,929	Arthur J Gallagher & Company		3,936,671
	95,055	Equitable Holdings, Inc.		2,581,694
				6,518,365
		LEISURE FACILITIES & SERVICES - 1.0%
	701	Chipotle Mexican Grill, Inc.^(a)		1,499,439

		MACHINERY - 2.4%
	6,585	Caterpillar, Inc.		1,620,239
	24,368	Oshkosh Corporation		2,110,025
				3,730,264
		MEDICAL EQUIPMENT & DEVICES - 9.4%
	4,406	Danaher Corporation		1,057,440
	22,363	Edwards Lifesciences Corporation^(a)		2,109,502
	9,709	Insulet Corporation^(a)		2,799,493
	8,449	Intuitive Surgical, Inc.^(a)		2,889,050
	32,626	Merit Medical Systems, Inc.^(a)		2,728,839
	18,869	Zimmer Biomet Holdings, Inc.		2,747,326
				14,331,650
		OIL & GAS PRODUCERS - 2.5%
	20,923	ConocoPhillips		2,167,832
	12,181	Diamondback Energy, Inc.		1,600,096
				3,767,928
		RETAIL - CONSUMER STAPLES - 2.6%
	3,617	Costco Wholesale Corporation		1,947,320
	12,055	Dollar General Corporation		2,046,698
				3,994,018
		RETAIL - DISCRETIONARY - 3.4%
	10,832	Lowe’s Companies, Inc.		2,444,782

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 84.1% (Continued)
		RETAIL - DISCRETIONARY - 3.4% (Continued)
	2,814	O’Reilly Automotive, Inc.^(a)	$	2,688,215
				5,132,997
		SEMICONDUCTORS - 15.1%
	21,908	Advanced Micro Devices, Inc.^(a)		2,495,540
	16,595	Analog Devices, Inc.		3,232,872
	6,552	Broadcom, Inc.		5,683,401
	15,396	NVIDIA Corporation		6,512,816
	12,273	NXP Semiconductors N.V.		2,512,038
	27,365	ON Semiconductor Corporation^(a)		2,588,182
				23,024,849
		SOFTWARE - 10.3%
	38,849	DocuSign, Inc.^(a)		1,984,795
	17,898	Palo Alto Networks, Inc.^(a)		4,573,118
	5,129	ServiceNow, Inc.^(a)		2,882,344
	10,642	Synopsys, Inc.^(a)		4,633,634
	3,894	Tyler Technologies, Inc.^(a)		1,621,734
				15,695,625
		TECHNOLOGY HARDWARE - 3.1%
	10,877	Arista Networks, Inc.^(a)		1,762,727
	43,979	Ciena Corporation^(a)		1,868,668
	18,236	Seagate Technology Holdings plc		1,128,261
				4,759,656
		TECHNOLOGY SERVICES - 1.8%
	15,075	CDW Corporation		2,766,263

		TRANSPORTATION & LOGISTICS - 1.4%
	25,766	Canadian Pacific Kansas City Ltd.		2,081,120

		TRANSPORTATION EQUIPMENT - 0.9%
	16,394	PACCAR, Inc.		1,371,358


		TOTAL COMMON STOCKS (Cost $98,122,380)		128,535,703

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 14.3%
		EQUITY - 14.3%
	624,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)	$	14,345,635
	209,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		7,518,942
		TOTAL EXCHANGE-TRADED FUNDS (Cost $21,565,045)		21,864,577

		SHORT-TERM INVESTMENTS — 1.7%
		MONEY MARKET FUND - 1.7%
	2,672,785	Fidelity Government Portfolio, Class I, 4.99% (Cost $2,672,785)^(c)		2,672,785

		TOTAL INVESTMENTS - 100.1% (Cost $122,360,210)	$	153,073,065
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(86,566	)
		NET ASSETS - 100.0%	$	152,986,499

ETF

- Exchange-Traded Fund

LTD

- Limited Company

- Naamioze Vennootschap

PLC

- Public Limited Company

REIT

- Real Estate Investment Trust

^(a)

Non-income producing security.

^(b)

Investment in affiliate.

^(c)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 86.2%
		AEROSPACE & DEFENSE - 2.3%
	25,468	Mercury Systems, Inc.^(a)	$	880,938
	27,822	Moog, Inc., Class A		3,016,740
				3,897,678
		AUTOMOTIVE - 0.7%
	36,330	Methode Electronics, Inc.		1,217,782

		BANKING - 14.1%
	107,265	Atlantic Union Bankshares Corporation		2,783,527
	34,780	Banner Corporation		1,518,843
	32,315	City Holding Company		2,908,027
	94,325	First Bancorp		2,806,169
	48,966	National Bank Holdings Corporation, Class A		1,421,973
	83,660	Provident Financial Services, Inc.		1,367,004
	107,696	Renasant Corporation		2,814,096
	43,000	Sandy Spring Bancorp, Inc.		975,240
	134,760	Seacoast Banking Corp of Florida		2,978,196
	49,115	Triumph Financial, Inc.^(a)		2,982,263
	71,588	Veritex Holdings, Inc.		1,283,573
				23,838,911
		BIOTECH & PHARMA - 1.8%
	51,213	Prestige Consumer Healthcare, Inc.^(a)		3,043,589

		CHEMICALS - 4.6%
	39,470	Avient Corporation		1,614,323
	141,900	Ecovyst, Inc.^(a)		1,626,174
	15,172	Innospec, Inc.		1,523,876
	31,325	Stepan Company		2,993,416
				7,757,789
		CONSTRUCTION MATERIALS - 0.9%
	39,502	Summit Materials, Inc., Class A^(a)		1,495,151

		ELECTRIC UTILITIES - 3.5%
	74,611	Avista Corporation		2,929,974

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 86.2% (Continued)
		ELECTRIC UTILITIES - 3.5% (Continued)
	51,976	NorthWestern Corporation	$	2,950,158
				5,880,132
		ENGINEERING & CONSTRUCTION - 1.8%
	18,877	Comfort Systems USA, Inc.		3,099,603

		FOOD - 3.6%
	117,111	Hostess Brands, Inc.^(a)		2,965,251
	18,894	J & J Snack Foods Corporation		2,992,053
				5,957,304
		FORESTRY, PAPER & WOOD PRODUCTS - 1.8%
	33,893	Boise Cascade Company		3,062,233

		HEALTH CARE FACILITIES & SERVICES - 1.8%
	90,831	Patterson Companies, Inc.		3,021,039

		HOME CONSTRUCTION - 2.7%
	20,204	Century Communities, Inc.		1,548,030
	29,979	Masonite International Corporation^(a)		3,071,049
				4,619,079
		HOUSEHOLD PRODUCTS - 0.8%
	38,384	Central Garden & Pet Company, Class A^(a)		1,399,481

		INDUSTRIAL INTERMEDIATE PROD - 1.0%
	38,788	AZZ, Inc.		1,685,726

		INSTITUTIONAL FINANCIAL SERVICES - 3.4%
	68,387	Moelis & Company, Class A		3,100,666
	21,303	Piper Sandler Cos		2,753,626
				5,854,292
		INSURANCE - 2.9%
	27,205	AMERISAFE, Inc.		1,450,571
	69,682	BRP Group, Inc., Class A^(a)		1,726,719
	65,697	Skyward Specialty Insurance Group, Inc.^(a)		1,668,704
				4,845,994

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 86.2% (Continued)
		LEISURE FACILITIES & SERVICES - 2.7%
	36,073	Chuy’s Holdings, Inc.^(a)	$	1,472,500
	40,675	Papa John’s International, Inc.		3,003,035
				4,475,535
		MACHINERY - 5.5%
	16,348	Alamo Group, Inc.		3,006,561
	31,618	Albany International Corporation, Class A		2,949,327
	49,313	Federal Signal Corporation		3,157,512
				9,113,400
		MEDICAL EQUIPMENT & DEVICES - 3.9%
	83,948	Avanos Medical, Inc.^(a)		2,145,711
	21,777	CONMED Corporation		2,959,276
	16,963	Merit Medical Systems, Inc.^(a)		1,418,785
				6,523,772
		METALS & MINING - 2.3%
	12,198	Encore Wire Corporation		2,267,974
	56,545	Livent Corporation^(a)		1,551,029
				3,819,003
		OFFICE REIT - 2.7%
	129,556	Corporate Office Properties Trust		3,076,955
	110,007	Easterly Government Properties, Inc.		1,595,102
				4,672,057
		OIL & GAS PRODUCERS - 6.5%
	9,736	Chord Energy Corporation		1,497,397
	203,560	Enerplus Corporation		2,945,513
	95,663	Northern Oil and Gas, Inc.		3,283,154
	123,191	Sitio Royalties Corporation, Class A		3,236,228
				10,962,292
		REAL ESTATE INVESTMENT TRUSTS - 6.5%
	129,526	Plymouth Industrial REIT, Inc.		2,981,689
	59,074	PotlatchDeltic Corporation		3,122,061
	224,180	Summit Hotel Properties, Inc.		1,459,412
	209,428	Urban Edge Properties		3,231,473
				10,794,635

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 86.2% (Continued)
		RETAIL - DISCRETIONARY - 3.6%
	56,709	Academy Sports & Outdoors, Inc.	$	3,065,121
	70,858	Monro, Inc.		2,878,961
				5,944,082
		RETAIL REIT - 1.8%
	117,043	Four Corners Property Trust, Inc.		2,972,892

		SOFTWARE - 0.1%
	5,636	Avid Technology, Inc.^(a)		143,718

		TECHNOLOGY HARDWARE - 1.9%
	282,868	Viavi Solutions, Inc.^(a)		3,204,894

		TRANSPORTATION & LOGISTICS - 1.0%
	17,530	ArcBest Corporation		1,731,964

		TOTAL COMMON STOCKS (Cost $141,495,680)		145,034,027

		EXCHANGE-TRADED FUNDS — 11.0%
		EQUITY - 11.0%
	580,000	Timothy Plan US Small Cap Core ETF^(b)(Cost$14,834,080)		18,492,720

		SHORT-TERM INVESTMENTS — 1.6%
		MONEY MARKET FUND - 1.6%
	2,665,766	Fidelity Government Portfolio, Class I, 4.99% (Cost $2,665,766)^(c)		2,665,766

		TOTAL INVESTMENTS - 98.8% (Cost $158,995,526)	$	166,192,513
		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.2%		1,948,842
		NET ASSETS - 100.0%	$	168,141,355

ETF

- Exchange-Traded Fund

REIT

- Real Estate Investment Trust

^(a)

Non-income producing security.

^(b)

Investment in affiliate.

^(c)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 77.0%
		AEROSPACE & DEFENSE - 1.8%
	24,979	General Dynamics Corporation	$	5,374,232

		BANKING - 2.8%
	61,433	BOK Financial Corporation		4,962,559
	30,297	Cullen/Frost Bankers, Inc.		3,257,836
				8,220,395
		CHEMICALS - 2.3%
	24,982	Sherwin-Williams Company (The)		6,633,221

		COMMERCIAL SUPPORT SERVICES - 1.9%
	39,871	Waste Connections, Inc.		5,698,762

		CONTAINERS & PACKAGING - 1.6%
	55,114	Crown Holdings, Inc.		4,787,753

		DIVERSIFIED INDUSTRIALS - 2.5%
	36,789	Eaton Corp plc		7,398,268

		ELECTRIC UTILITIES - 3.7%
	89,542	CMS Energy Corporation		5,260,593
	62,624	WEC Energy Group, Inc.		5,525,941
				10,786,534
		FOOD - 4.1%
	38,411	J M Smucker Company (The)		5,672,152
	74,329	McCormick & Company, Inc.		6,483,719
				12,155,871
		HEALTH CARE FACILITIES & SERVICES - 1.2%
	11,754	HCA Healthcare, Inc.		3,567,104

		INSTITUTIONAL FINANCIAL SERVICES - 2.2%
	57,253	Intercontinental Exchange, Inc.		6,474,169

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 77.0% (Continued)
		INSURANCE - 2.2%
	30,074	Arthur J Gallagher & Company	$	6,603,348

		LEISURE FACILITIES & SERVICES - 2.1%
	18,731	Domino’s Pizza, Inc.		6,312,160

		MEDICAL EQUIPMENT & DEVICES - 6.8%
	25,379	Danaher Corporation		6,090,960
	42,105	PerkinElmer, Inc.		5,001,653
	23,046	STERIS plc		5,184,889
	26,921	Zimmer Biomet Holdings, Inc.		3,919,698
				20,197,200
		OIL & GAS PRODUCERS - 3.8%
	54,647	ConocoPhillips		5,661,975
	47,470	EOG Resources, Inc.		5,432,467
				11,094,442
		REAL ESTATE INVESTMENT TRUSTS - 3.9%
	49,812	Crown Castle, Inc.		5,675,579
	47,188	Prologis, Inc.		5,786,665
				11,462,244
		RETAIL - CONSUMER STAPLES - 3.8%
	12,242	Costco Wholesale Corporation		6,590,848
	27,589	Dollar General Corporation		4,684,060
				11,274,908
		RETAIL - DISCRETIONARY - 4.5%
	8,006	O’Reilly Automotive, Inc.^(a)		7,648,131
	25,417	Tractor Supply Company		5,619,699
				13,267,830
		SEMICONDUCTORS - 15.2%
	10,828	ASML Holding N.V.		7,847,593
	9,051	Broadcom, Inc.		7,851,109
	93,501	Lattice Semiconductor Corporation^(a)		8,982,641
	75,189	Microchip Technology, Inc.		6,736,183
	10,949	Monolithic Power Systems, Inc.		5,914,978

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 77.0% (Continued)
		SEMICONDUCTORS - 15.2% (Continued)
	17,708	NVIDIA Corporation	$	7,490,838
				44,823,342
		SOFTWARE - 6.1%
	24,878	Cadence Design Systems, Inc.^(a)		5,834,389
	16,143	Synopsys, Inc.^(a)		7,028,823
	12,713	Tyler Technologies, Inc.^(a)		5,294,583
				18,157,795
		TECHNOLOGY SERVICES - 2.3%
	20,120	CACI International, Inc., Class A^(a)		6,857,701

		TRANSPORTATION & LOGISTICS - 2.2%
	31,118	Union Pacific Corporation		6,367,365

		TOTAL COMMON STOCKS (Cost $166,318,109)		227,514,644

		EXCHANGE-TRADED FUNDS — 17.3%
		EQUITY - 17.3%
	573,000	Timothy Plan High Dividend Stock Enhanced ETF^(b)		13,032,828
	382,500	Timothy Plan High Dividend Stock ETF^(b)		12,048,062
	634,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)		14,575,533
	318,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		11,440,304
		TOTAL EXCHANGE-TRADED FUNDS (Cost $48,945,129)		51,096,727

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 5.8%
		MONEY MARKET FUND - 5.8%
	17,005,304	Fidelity Government Portfolio, Class I, 4.99% (Cost $17,005,304)^(c)	$	17,005,304

		TOTAL INVESTMENTS - 100.1% (Cost $232,268,542)	$	295,616,675
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(165,143	)
		NET ASSETS - 100.0%	$	295,451,532

ETF

- Exchange-Traded Fund

- Naamioze Vennootschap

PLC

- Public Limited Company

^(a)

Non-income producing security.

^(b)

Investment in affiliate.

^(c)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares					Fair Value
		EXCHANGE-TRADED FUND — 14.4%
		EQUITY - 14.4%
	620,000	Timothy Plan Market Neutral ETF ^(a) (Cost $15,521,700)			$	15,085,654

Principal			Coupon Rate
Amount ($)			(%)	Maturity
		CORPORATE BONDS — 28.5%
		CHEMICALS — 3.2%
	1,212,000	LYB International Finance BV	4.0000	07/15/23		1,210,359
	1,570,000	Nutrien Ltd.	4.0000	12/15/26		1,507,721
	805,000	Nutrien Ltd.	2.9500	05/13/30		699,755
						3,417,835
		COMMERCIAL SUPPORT SERVICES — 0.9%
	450,000	Republic Services, Inc.	5.0000	04/01/34		449,119
	450,000	Waste Management, Inc.	4.6250	02/15/33		440,914
						890,033
		ELECTRIC UTILITIES — 4.5%
	2,205,000	American Electric Power Company, Inc.	3.2000	11/13/27		2,038,166
	1,000,000	Electricite de France S.A.^(b)	5.7000	05/23/28		998,797
	855,000	National Rural Utilities Cooperative Finance	2.9500	02/07/24		841,029
	405,000	National Rural Utilities Cooperative Finance	5.0500	09/15/28		403,967
	442,000	WEC Energy Group, Inc.	3.5500	06/15/25		424,144
						4,706,103
		GAS & WATER UTILITIES — 2.0%
	2,185,000	NiSource, Inc.	3.4900	05/15/27		2,056,869

		INSTITUTIONAL FINANCIAL SERVICES — 0.9%
	1,000,000	Cboe Global Markets, Inc.	3.6500	01/12/27		951,740

		MACHINERY — 1.7%
	900,000	Caterpillar Financial Services Corporation	4.3500	05/15/26		886,132
	900,000	John Deere Capital Corporation	4.3500	09/15/32		883,540
						1,769,672

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		CORPORATE BONDS — 28.5% (Continued)
		METALS & MINING — 0.9%
	450,000	BHP Billiton Finance USA Ltd.	4.9000	02/28/33	$	448,217
	450,000	Rio Tinto Finance USA PLC	5.0000	03/09/33		453,625
						901,842
		OIL & GAS PRODUCERS — 7.0%
	1,580,000	Columbia Pipeline Group, Inc.	4.5000	06/01/25		1,542,401
	1,980,000	Energy Transfer Operating, L.P.	6.2500	04/15/49		1,931,099
	1,125,000	Energy Transfer, L.P.	5.7500	02/15/33		1,133,810
	450,000	Enterprise Products Operating, LLC	5.3500	01/31/33		457,603
	2,240,000	Phillips 66 Company	3.6050	02/15/25		2,162,232
						7,227,145
		REAL ESTATE INVESTMENT TRUSTS — 3.2%
	1,520,000	Digital Realty Trust, L.P.	3.7000	08/15/27		1,397,287
	2,200,000	Healthpeak Properties, Inc.	3.5000	07/15/29		1,975,936
						3,373,223
		RETAIL - CONSUMER STAPLES — 1.4%
	1,575,000	Dollar General Corporation	4.1250	05/01/28		1,497,392

		TRANSPORTATION & LOGISTICS — 2.8%
	1,000,000	Canadian Pacific Railway Company	2.9000	02/01/25		959,615
	2,190,000	CSX Corporation	3.2500	06/01/27		2,062,307
						3,021,922

		TOTAL CORPORATE BONDS (Cost $31,659,954)				29,813,776

		NON U.S. GOVERNMENT & AGENCIES — 2.0%
		LOCAL AUTHORITY — 2.0%
	2,235,000	Province of Ontario Canada (Cost $2,296,010)	2.5000	04/27/26		2,102,814

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 53.0%
		AGENCY FIXED RATE — 33.9%
	1,274,252	Fannie Mae Pool FM5537	2.0000	01/01/36	$	1,131,710
	976,331	Fannie Mae Pool MA4316	2.5000	04/01/36		889,692
	1,455,321	Fannie Mae Pool MA4333	2.0000	05/01/41		1,240,592
	701,472	Fannie Mae Pool MA4366	2.5000	06/01/41		610,438
	416,140	Fannie Mae Pool MA4475	2.5000	10/01/41		362,098
	1,200,533	Fannie Mae Pool MA4617	3.0000	04/01/42		1,079,105
	1,015,360	Fannie Mae Pool FM4053	2.5000	08/01/50		870,381
	1,308,468	Fannie Mae Pool CA8897	3.0000	02/01/51		1,165,289
	870,610	Fannie Mae Pool MA4258	3.5000	02/01/51		799,267
	449,879	Fannie Mae Pool FM6550	2.0000	03/01/51		371,134
	834,357	Fannie Mae Pool CB0855	3.0000	06/01/51		737,163
	507,225	Fannie Mae Pool FS1807	3.5000	07/01/51		467,823
	956,761	Fannie Mae Pool CB3486	3.5000	05/01/52		873,440
	526,935	Fannie Mae Pool FS1704	4.0000	05/01/52		498,217
	910,667	Fannie Mae Pool BV9960	4.0000	06/01/52		857,053
	1,059,405	Fannie Mae Pool FS3392	4.0000	09/01/52		995,395
	897,560	Fannie Mae Pool FS3159	4.5000	10/01/52		867,793
	879,905	Fannie Mae Pool FS4075	5.0000	04/01/53		868,207
	58,394	Ginnie Mae I Pool 723248	5.0000	10/15/39		58,770
	250,858	Ginnie Mae I Pool 783060	4.0000	08/15/40		240,259
	137,214	Ginnie Mae I Pool 783403	3.5000	09/15/41		129,540
	105,613	Ginnie Mae II Pool 4520	5.0000	08/20/39		107,459
	140,538	Ginnie Mae II Pool 4947	5.0000	02/20/41		141,936
	251,682	Ginnie Mae II Pool MA3376	3.5000	01/20/46		236,325
	161,112	Ginnie Mae II Pool MA3596	3.0000	04/20/46		146,754
	431,700	Ginnie Mae II Pool MA3663	3.5000	05/20/46		405,102
	154,766	Ginnie Mae II Pool MA3736	3.5000	06/20/46		145,283
	264,240	Ginnie Mae II Pool MA4004	3.5000	10/20/46		247,691
	179,034	Ginnie Mae II Pool MA4509	3.0000	06/20/47		162,378
	214,289	Ginnie Mae II Pool MA4652	3.5000	08/20/47		200,415
	263,494	Ginnie Mae II Pool MA4719	3.5000	09/20/47		246,339
	270,300	Ginnie Mae II Pool MA4778	3.5000	10/20/47		253,177
	214,452	Ginnie Mae II Pool MA4901	4.0000	12/20/47		205,953
	186,187	Ginnie Mae II Pool MA4963	4.0000	01/20/48		178,815

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 53.0% (Continued)
		AGENCY FIXED RATE — 33.9% (Continued)
	180,238	Ginnie Mae II Pool MA6092	4.5000	08/20/49	$	175,161
	194,771	Ginnie Mae II Pool MA6156	4.5000	09/20/49		189,932
	648,341	Ginnie Mae II Pool BN2662	3.0000	10/20/49		580,520
	176,674	Ginnie Mae II Pool MA6221	4.5000	10/20/49		172,848
	179,842	Ginnie Mae II Pool MA6477	4.5000	02/20/50		175,913
	289,273	Ginnie Mae II Pool MA6478	5.0000	02/20/50		289,192
	288,645	Ginnie Mae II Pool MA6544	4.5000	03/20/50		282,498
	203,050	Ginnie Mae II Pool MA6545	5.0000	03/20/50		203,029
	1,133,556	Ginnie Mae II Pool MA6598	2.5000	04/20/50		989,472
	287,776	Ginnie Mae II Pool MA6600	3.5000	04/20/50		268,337
	244,421	Ginnie Mae II Pool MA6601	4.0000	04/20/50		233,227
	219,302	Ginnie Mae II Pool MA6603	5.0000	04/20/50		219,230
	1,010,850	Ginnie Mae II Pool MA7255	2.5000	03/20/51		879,318
	747,507	Ginnie Mae II Pool MA7418	2.5000	06/20/51		648,880
	1,255,102	Ginnie Mae II Pool MA7419	3.0000	06/20/51		1,127,786
	1,128,604	Ginnie Mae II Pool MA7472	2.5000	07/20/51		977,927
	1,331,723	Ginnie Mae II Pool CE1974	3.0000	08/20/51		1,205,637
	1,092,878	Ginnie Mae II Pool CE1990	2.5000	09/20/51		946,213
	1,316,776	Ginnie Mae II Pool MA7705	2.5000	11/20/51		1,140,796
	1,066,492	Ginnie Mae II Pool MA7768	3.0000	12/20/51		955,628
	1,081,629	Ginnie Mae II Pool MA7829	3.5000	01/20/52		999,104
	1,073,221	Ginnie Mae II Pool MA7939	4.0000	03/20/52		1,016,051
	1,173,728	Ginnie Mae II Pool MA7987	2.5000	04/20/52		1,017,184
	1,156,628	Ginnie Mae II Pool MA8098	3.0000	06/20/52		1,035,231
	1,121,993	Ginnie Mae II Pool MA8268	4.5000	09/20/52		1,084,739
	885,899	Ginnie Mae II Pool MA8800	5.0000	04/20/53		871,867
		TOTAL AGENCY FIXED RATE (Cost $39,703,094)				35,476,713

		U.S. TREASURY NOTES — 19.1%
	700,000	United States Treasury Note	2.2500	11/15/24		672,314
	1,180,000	United States Treasury Note	2.0000	08/15/25		1,113,303
	740,000	United States Treasury Note	0.6250	07/31/26		659,236
	2,030,000	United States Treasury Note	1.2500	09/30/28		1,757,060
	2,010,000	United States Treasury Note	1.2500	08/15/31		1,649,299

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 53.0% (Continued)
		U.S. TREASURY NOTES — 19.1% (Continued)
$	4,575,000	United States Treasury Note	3.5000	02/15/33	$	4,454,906
	5,215,000	United States Treasury Note	1.7500	08/15/41		3,661,399
	2,570,000	United States Treasury Note	2.0000	08/15/51		1,749,357
	4,465,000	United States Treasury Note	3.6250	02/15/53		4,279,423
		TOTAL U.S. TREASURY NOTES (Cost $22,170,345)				19,996,297

		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $61,873,439)				55,473,010

Shares
		SHORT-TERM INVESTMENT — 1.6%
		MONEY MARKET FUND - 1.6%
	1,625,964	Fidelity Government Portfolio, Class I, 4.98% (Cost $1,625,964)^(c)				1,625,964

		TOTAL INVESTMENTS - 99.5% (Cost $112,977,067)			$	104,101,218
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.5%				536,132
		NET ASSETS - 100.0%			$	104,637,350

ETF

- Exchange-Traded Fund

LLC

- Limited Liability Company

- Limited Partnership

LTD

- Limited Company

PLC

- Public Limited Company

REIT

- Real Estate Investment Trust

S/A

- Société Anonyme

^(a)

Investment in affiliate.

^(b)

Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2023 the total market value of 144A securities is $998,797 or 1.0% of net assets.

^(c)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 12.2%
		EQUITY - 12.2%
	786,900	Timothy Plan Market Neutral ETF ^(a) (Cost $19,700,042)			$	19,146,615

Principal			Coupon Rate
Amount ($)			(%)	Maturity
		CORPORATE BONDS — 84.0%
		AEROSPACE & DEFENSE — 1.3%
	2,000,000	TransDigm, Inc.^(b)	6.7500	08/15/28		2,010,286

		ASSET MANAGEMENT — 1.4%
	1,100,000	AG TTMT Escrow Issuer, LLC^(b)	8.6250	09/30/27		1,128,518
	250,000	Icahn Enterprises, L.P. / Icahn Enterprises	4.7500	09/15/24		238,995
	1,000,000	Icahn Enterprises, L.P. / Icahn Enterprises	4.3750	02/01/29		786,730
						2,154,243
		AUTOMOTIVE — 2.5%
	1,000,000	Adient Global Holdings Ltd.^(b)	7.0000	04/15/28		1,011,875
	1,500,000	Adient Global Holdings Ltd.^(b)	8.2500	04/15/31		1,524,947
	1,500,000	Goodyear Tire & Rubber Company (The)	5.6250	04/30/33		1,304,777
						3,841,599
		BIOTECH & PHARMA — 0.6%
	1,500,000	Emergent BioSolutions, Inc.^(b)	3.8750	08/15/28		874,192

		CHEMICALS — 5.4%
	1,500,000	Avient Corporation^(b)	7.1250	08/01/30		1,514,594
	2,000,000	Axalta Coating Systems LLC^(b)	3.3750	02/15/29		1,704,339
	2,000,000	Chemours Company (The)^(b)	4.6250	11/15/29		1,692,244
	2,000,000	Polar US Borrower, LLC / Schenectady International^(b)	6.7500	05/15/26		1,184,914
	1,000,000	WR Grace Holdings, LLC^(b)	5.6250	08/15/29		820,250
	1,500,000	WR Grace Holdings, LLC^(b)	7.3750	03/01/31		1,471,322
						8,387,663
		COMMERCIAL SUPPORT SERVICES — 7.2%
	1,125,000	Allied Universal Holdco, LLC / Allied Universal^(b)	4.6250	06/01/28		953,843
	125,000	Atlas LuxCompany 4 S.A.RL / Allied Universal^(b)	4.6250	06/01/28		105,297
	1,125,000	Clean Harbors, Inc.^(b)	6.3750	02/01/31		1,133,100

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal				Coupon Rate
Amount ($)			Spread	(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		COMMERCIAL SUPPORT SERVICES — 7.2% (Continued)
	2,000,000	Covanta Holding Corporation		5.0000	09/01/30	$	1,700,600
	1,125,000	Covert Mergeco, Inc.^(b)		4.8750	12/01/29		974,548
	2,800,000	GFL Environmental Inc^(b)		4.0000	08/01/28		2,506,533
	250,000	GFL Environmental, Inc.^(b)		4.3750	08/15/29		222,780
	2,505,000	Harsco Corporation^(b)		5.7500	07/31/27		2,183,383
	1,700,000	Waste Pro USA, Inc.^(b)		5.5000	02/15/26		1,578,914
							11,358,998
		CONSTRUCTION MATERIALS — 0.4%
	500,000	Cemex S.A.B. de C.V.^(b)		5.2000	09/17/30		468,213
	250,000	Cemex S.A.B. de C.V.^(b)		3.8750	07/11/31		210,670
							678,883
		CONSUMER SERVICES — 1.7%
	2,000,000	PROG Holdings, Inc.^(b)		6.0000	11/15/29		1,755,440
	1,000,000	Rent-A-Center, Inc.^(b)		6.3750	02/15/29		888,475
							2,643,915
		CONTAINERS & PACKAGING — 8.5%
	625,000	Ardagh Metal Packaging Finance USA, LLC / Ardagh^(b)		6.0000	06/15/27		614,639
	1,500,000	Ardagh Metal Packaging Finance USA, LLC / Ardagh^(b)		4.0000	09/01/29		1,189,630
	1,750,000	Canpack S.A. / Canpack US, LLC^(b)		3.8750	11/15/29		1,426,468
	1,000,000	Graham Packaging Company, Inc.^(b)		7.1250	08/15/28		855,105
	750,000	Graphic Packaging International, LLC^(b)		3.7500	02/01/30		647,834
	1,250,000	LABL, Inc.^(b)		5.8750	11/01/28		1,139,067
	375,000	LABL, Inc.^(b)		9.5000	11/01/28		381,993
	750,000	LABL, Inc.^(b)		8.2500	11/01/29		628,594
	2,550,000	Mauser Packaging Solutions Holding Company^(b)		7.8750	08/15/26		2,532,849
	3,000,000	Pactiv Evergreen Group Issuer, LLC / Pactiv^(b)		4.3750	10/15/28		2,601,056
	1,250,000	TriMas Corporation^(b)		4.1250	04/15/29		1,115,075
							13,132,310
		ELECTRIC UTILITIES — 0.8%
	1,250,000	Vistra Corporation^(b),(c)	H15T5Y + 5.740%	7.0000	06/15/70		1,092,032
	250,000	Vistra Operations Company, LLC^(b)		4.3750	05/01/29		219,206
							1,311,238
		ELECTRICAL EQUIPMENT — 0.6%
	500,000	BWX Technologies, Inc.^(b)		4.1250	06/30/28		456,538

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		ELECTRICAL EQUIPMENT — 0.6% (Continued)
	500,000	BWX Technologies, Inc.^(b)	4.1250	04/15/29	$	452,000
						908,538
		ENGINEERING & CONSTRUCTION — 1.5%
	2,694,000	Dycom Industries, Inc.^(b)	4.5000	04/15/29		2,449,115

		FOOD — 0.9%
	1,350,000	Darling Ingredients, Inc.^(b)	6.0000	06/15/30		1,319,929

		FORESTRY, PAPER & WOOD PRODUCTS — 0.9%
	1,750,000	Mercer International, Inc.	5.1250	02/01/29		1,364,213

		HEALTH CARE FACILITIES & SERVICES — 3.2%
	1,391,000	Ardent Health Services, Inc.^(b)	5.7500	07/15/29		1,200,739
	500,000	Catalent Pharma Solutions, Inc.^(b)	3.1250	02/15/29		407,005
	250,000	LifePoint Health, Inc.^(b)	5.3750	01/15/29		142,501
	1,000,000	MEDNAX, Inc.^(b)	5.3750	02/15/30		921,050
	1,500,000	Tenet Healthcare Corporation	6.1250	10/01/28		1,445,490
	500,000	Tenet Healthcare Corporation	4.3750	01/15/30		451,685
	500,000	Tenet Healthcare Corporation^(b)	6.7500	05/15/31		501,835
						5,070,305
		HOME CONSTRUCTION — 4.2%
	500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)	6.6250	01/15/28		478,655
	1,000,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)	4.6250	08/01/29		853,615
	500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)	4.6250	04/01/30		427,485
	2,792,000	Interface Inc^(b)	5.5000	12/01/28		2,268,570
	1,500,000	STL Holding Company, LLC^(b)	7.5000	02/15/26		1,380,000
	1,273,000	Weekley Homes, LLC / Weekley Finance Corporation^(b)	4.8750	09/15/28		1,147,634
						6,555,959
		HOUSEHOLD PRODUCTS — 0.6%
	1,050,000	Energizer Holdings, Inc.^(b)	6.5000	12/31/27		1,010,622

		INDUSTRIAL SUPPORT SERVICES — 0.7%
	1,000,000	Ashtead Capital, Inc.^(b)	2.4500	08/12/31		785,117
	250,000	BCPE Empire Holdings, Inc.^(b)	7.6250	05/01/27		232,772
						1,017,889

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		INSTITUTIONAL FINANCIAL SERVICES — 1.3%
	500,000	LPL Holdings, Inc.^(b)	4.6250	11/15/27	$	469,572
	1,750,000	LPL Holdings, Inc.^(b)	4.0000	03/15/29		1,537,248
						2,006,820
		INSURANCE — 0.9%
	1,000,000	Acrisure, LLC / Acrisure Finance, Inc.^(b)	4.2500	02/15/29		864,155
	500,000	HUB International Ltd.^(b)	7.2500	06/15/30		517,405
						1,381,560
		LEISURE FACILITIES & SERVICES — 0.6%
	1,000,000	Brinker International, Inc.^(b)	8.2500	07/15/30		986,230

		LEISURE PRODUCTS — 0.5%
	1,000,000	Vista Outdoor, Inc.^(b)	4.5000	03/15/29		810,956

		MACHINERY — 0.1%
	250,000	Redwood Star Merger Sub, Inc.^(b)	8.7500	04/01/30		225,287

		MEDICAL EQUIPMENT & DEVICES — 1.1%
	1,000,000	Mozart Debt Merger Sub, Inc.^(b)	3.8750	04/01/29		867,481
	1,000,000	Mozart Debt Merger Sub, Inc.^(b)	5.2500	10/01/29		868,703
						1,736,184
		METALS & MINING — 0.6%
	1,250,000	Kaiser Aluminum Corporation^(b)	4.5000	06/01/31		1,001,388

		OIL & GAS PRODUCERS — 7.1%
	1,750,000	Colgate Energy Partners III, LLC^(b)	5.8750	07/01/29		1,650,280
	3,322,000	CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC^(b)	5.5000	06/15/31		2,968,011
	500,000	Crestwood Midstream Partners, L.P. / Crestwood	5.7500	04/01/25		491,703
	1,500,000	Crestwood Midstream Partners, L.P. / Crestwood^(b)	5.6250	05/01/27		1,423,500
	100,000	Earthstone Energy Holdings, LLC^(b)	8.0000	04/15/27		96,439
	500,000	Genesis Energy, L.P. / Genesis Energy Finance	7.7500	02/01/28		476,179
	250,000	Genesis Energy, L.P. / Genesis Energy Finance	8.8750	04/15/30		244,483
	1,000,000	Global Partners, L.P. / GLP Finance Corporation	7.0000	08/01/27		971,701

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal				Coupon Rate
Amount ($)			Spread	(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		OIL & GAS PRODUCERS — 7.1% (Continued)
	1,000,000	ITT Holdings, LLC^(b)		6.5000	08/01/29	$	843,740
	1,750,000	NuStar Logistics, L.P.		5.6250	04/28/27		1,680,350
	275,000	PBF Holding Company, LLC / PBF Finance Corporation		7.2500	06/15/25		274,769
							11,121,155
		PUBLISHING & BROADCASTING — 0.2%
	500,000	Gray Television, Inc.^(b)		4.7500	10/15/30		339,608

		REAL ESTATE INVESTMENT TRUSTS — 2.0%
	1,500,000	Diversified Healthcare Trust		9.7500	06/15/25		1,440,693
	1,250,000	Service Properties Trust		7.5000	09/15/25		1,228,196
	500,000	Service Properties Trust		5.5000	12/15/27		440,090
							3,108,979
		REAL ESTATE OWNERS & DEVELOPERS — 1.4%
	2,749,000	Howard Hughes Corporation (The)^(b)		4.3750	02/01/31		2,196,506

		RETAIL - CONSUMER STAPLES — 0.5%
	1,000,000	Ingles Markets, Inc.^(b)		4.0000	06/15/31		839,623

		RETAIL - DISCRETIONARY — 4.8%
	1,800,000	Beacon Roofing Supply, Inc.^(b)		4.1250	05/15/29		1,594,971
	2,412,000	Ken Garff Automotive, LLC^(b)		4.8750	09/15/28		2,124,945
	1,250,000	Lithia Motors, Inc.^(b)		3.8750	06/01/29		1,087,606
	500,000	Lithia Motors, Inc.^(b)		4.3750	01/15/31		432,122
	1,500,000	PetSmart, Inc. / PetSmart Finance Corporation^(b)		7.7500	02/15/29		1,492,089
	1,050,000	Sonic Automotive, Inc.^(b)		4.8750	11/15/31		862,741
							7,594,474
		SEMICONDUCTORS — 0.9%
	1,500,000	Entegris Escrow Corporation^(b)		4.7500	04/15/29		1,389,466

		SOFTWARE — 0.6%
	1,000,000	Crowdstrike Holdings, Inc.		3.0000	02/15/29		863,296

		SPECIALTY FINANCE — 12.3%
	2,000,000	Air Lease Corporation^(c)	H15T5Y + 4.076%	4.6500	06/15/70		1,674,120

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal				Coupon Rate
Amount ($)			Spread	(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		SPECIALTY FINANCE — 12.3% (Continued)
	1,000,000	Bread Financial Holdings, Inc.^(b)		7.0000	01/15/26	$	943,926
	2,500,000	Burford Capital Global Finance, LLC^(b)		6.2500	04/15/28		2,302,738
	3,000,000	Burford Capital Global Finance, LLC^(b)		9.2500	07/01/31		2,985,300
	115,000	Freedom Mortgage Corporation^(b)		8.1250	11/15/24		114,056
	786,000	Freedom Mortgage Corporation^(b)		8.2500	04/15/25		767,128
	1,000,000	Freedom Mortgage Corporation^(b)		6.6250	01/15/27		866,751
	2,955,000	ILFC E-Capital Trust I^(b),(c)	T30Y + 1.550%	7.0640	12/21/65		1,993,428
	1,500,000	ILFC E-Capital Trust II^(b),(c)	T30Y + 1.800%	7.3140	12/21/65		1,048,810
	750,000	Ladder Capital Finance Holdings LLLP^(b)		4.2500	02/01/27		652,303
	700,000	LFS Topco, LLC^(b)		5.8750	10/15/26		615,780
	500,000	Nationstar Mortgage Holdings, Inc. ^(b)		6.0000	01/15/27		465,740
	1,250,000	Nationstar Mortgage Holdings, Inc.^(b)		5.5000	08/15/28		1,090,348
	1,250,000	Nationstar Mortgage Holdings, Inc.^(b)		5.7500	11/15/31		1,033,125
	3,000,000	New Residential Investment Corporation^(b)		6.2500	10/15/25		2,816,010
							19,369,563
		STEEL — 2.1%
	500,000	Commercial Metals Company		4.3750	03/15/32		432,815
	3,399,000	TMS International Corporation^(b)		6.2500	04/15/29		2,858,661
							3,291,476
		TECHNOLOGY HARDWARE — 1.3%
	300,000	Ciena Corporation^(b)		4.0000	01/31/30		261,645
	1,000,000	CommScope, Inc.^(b)		8.2500	03/01/27		800,982
	750,000	CommScope, Inc.^(b)		7.1250	07/01/28		533,483
	500,000	TTM Technologies, Inc.^(b)		4.0000	03/01/29		425,505
							2,021,615
		TECHNOLOGY SERVICES — 1.1%
	1,500,000	HealthEquity, Inc.^(b)		4.5000	10/01/29		1,323,917
	500,000	MSCI, Inc.^(b)		3.6250	11/01/31		427,633
							1,751,550
		TRANSPORTATION & LOGISTICS — 0.7%
	1,250,000	First Student Bidco, Inc. / First Transit Parent,^(b)		4.0000	07/31/29		1,060,325

		TRANSPORTATION EQUIPMENT — 0.1%
	125,000	Wabash National Corporation^(b)		4.5000	10/15/28		108,546

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		CORPORATE BONDS — 84.0% (Continued)
		WHOLESALE - CONSUMER STAPLES — 1.4%
	2,500,000	United Natural Foods, Inc.^(b)	6.7500	10/15/28	$	2,075,313

		TOTAL CORPORATE BONDS (Cost $143,930,735)				131,369,817

Shares
		SHORT-TERM INVESTMENT — 2.7%
		MONEY MARKET FUND - 2.7%
	4,228,091	Fidelity Government Portfolio, Class I, 4.98% (Cost $4,228,091)^(d)				4,228,091

		TOTAL INVESTMENTS - 98.9% (Cost $167,858,868)			$	154,744,523
		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.1%				1,664,129
		NET ASSETS - 100.0%			$	156,408,652

ETF	- Exchange-Traded Fund

LLC	- Limited Liability Company

LP	- Limited Partnership

LTD	- Limited Company

MSCI	- Morgan Stanley Capital International

REIT	- Real Estate Investment Trust

H15T5Y	US Treasury Yield Curve Rate T Note Constant Maturity 5 Year

T30Y	30 Year Treasury

^(a)

Investment in affiliate.

^(b)

^(c)

Variable rate security; the rate shown represents the rate on June 30, 2023.

^(d)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.8%
		ADVERTISING & MARKETING - 0.3%
	48,148	Tremor International Ltd. - ADR^(a)	$	346,666

		AEROSPACE & DEFENSE - 5.7%
	18,501	Elbit Systems Ltd.		3,865,969
	109,000	Leonardo DRS, Inc.^(a)		1,890,060
				5,756,029
		APPAREL & TEXTILE PRODUCTS - 2.5%
	22,063	Delta Galil Ltd.		863,138
	20,000	Fox Wizel Ltd.		1,638,787
				2,501,925
		BANKING - 17.3%
	102,000	Bank Hapoalim BM - ADR		4,197,300
	518,000	Bank Leumi Le-Israel BM		3,855,930
	63,300	First International Bank Of Israel Ltd.		2,462,729
	602,000	Israel Discount Bank Ltd., Class A		2,988,560
	112,000	Mizrahi Tefahot Bank Ltd.		3,725,880
				17,230,399
		BIOTECH & PHARMA - 1.2%
	67,000	Enlight Renewable Energy Ltd.^(a)		1,177,706

		CHEMICALS - 2.0%
	353,902	ICL Group Ltd.		1,939,383

		CONSTRUCTION MATERIALS - 0.7%
	213,000	Inrom Construction Industries Ltd.		736,167

		ELECTRIC UTILITIES - 2.9%
	36,200	OrmatTechnologies, Inc.		2,912,681

		ELECTRICAL EQUIPMENT - 0.5%
	12,800	Camtek Ltd.		456,064

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.8% (Continued)
		ENGINEERING & CONSTRUCTION - 0.2%
	80,000	Shikun & Binui Ltd.^(a)	$	170,322

		FOOD - 1.4%
	63,000	Strauss Group Ltd.^(a)		1,418,282

		HEALTH CARE FACILITIES & SERVICES - 1.7%
	12,769	Danel Adir Yeoshua Ltd.		902,623
	1,575,013	Novolog Ltd.		764,899
				1,667,522
		HOME & OFFICE PRODUCTS - 1.6%
	116,585	Maytronics Ltd.		1,592,884

		INSTITUTIONAL FINANCIAL SERVICES - 2.3%
	450,194	Tel Aviv Stock Exchange Ltd.^(a)		2,326,035

		INSURANCE - 4.1%
	132,000	Harel Insurance Investments & Financial Services		1,027,110
	1,048,628	Migdal Insurance & Financial Holdings Ltd.		1,271,742
	182,400	Phoenix Holdings Ltd. (The)		1,833,152
				4,132,004
		INTERNET MEDIA & SERVICES - 0.9%
	38,000	Fiverr International Ltd.^(a)		988,380

		LEISURE FACILITIES & SERVICES - 2.0%
	20,300	Fattal Holdings 1998 Ltd.^(a)		1,968,986

		MEDICAL EQUIPMENT & DEVICES - 1.5%
	40,900	Inmode Ltd.^(a)		1,527,615

		OIL & GAS PRODUCERS - 7.8%
	350,000	DelekDrilling, L.P.		975,475
	92,968	Energean plc		1,208,987
	102,000	Energean plc		1,307,198
	5,600	Israel Corp Ltd. (The)		1,467,234

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.8% (Continued)
		OIL & GAS PRODUCERS - 7.8% (Continued)
	2,350,000	Oil Refineries Ltd.	$	670,813
	8,000	Paz Oil Company Ltd.^(a)		859,055
	1,600,000	Ratio Energies Finance, L.P.		1,217,354
				7,706,116
		REAL ESTATE INVESTMENT TRUSTS - 1.3%
	284,000	Reit 1 Ltd.		1,245,144

		REAL ESTATE OWNERS & DEVELOPERS - 9.2%
	80,000	Alony HetzProperties & Investments Ltd.		622,923
	237,000	Amot Investments Ltd.		1,242,421
	36,500	Azrieli Group Ltd.		2,048,350
	40,000	Elco Ltd.		1,370,602
	160,000	Gav-Yam Lands Corp Ltd.		1,127,131
	20,380	Melisron Ltd.		1,319,632
	593,430	Mivne Real Estate KD Ltd.		1,444,348
				9,175,407
		RENEWABLE ENERGY - 2.2%
	296,360	Energix-Renewable Energies Ltd.		959,507
	4,700	SolarEdge Technologies, Inc.^(a)		1,264,535
				2,224,042
		RETAIL - CONSUMER STAPLES - 2.2%
	18,700	Rami Levy Chain Stores Hashikma Marketing 2006		1,105,431
	210,000	Shufersal Ltd.^(a)		1,096,347
				2,201,778
		SEMICONDUCTORS - 6.3%
	30,000	Nova Ltd.^(a)		3,519,000
	73,223	Tower Semiconductor Ltd.^(a)		2,747,327
				6,266,327
		SOFTWARE - 14.1%
	14,100	CyberArk Software Ltd.^(a)		2,204,253
	29,935	Hilan Ltd.		1,478,820
	36,300	Mobileye Global, Inc., Class A^(a)		1,394,646
	23,700	Nice Ltd. - ADR^(a)		4,894,050
	41,000	One Software Technologies Ltd.		551,991

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 95.8% (Continued)
		SOFTWARE - 14.1% (Continued)
	55,300	Sapiens International Corp N.V.	$	1,470,980
	43,200	Varonis Systems, Inc.^(a)		1,151,280
	21,500	Verint Systems, Inc.^(a)		753,790
				13,899,810
		TECHNOLOGY SERVICES - 2.1%
	72,783	Magic Software Enterprises Ltd.		968,014
	56,210	Matrix IT Ltd.		1,145,462
				2,113,476
		TELECOMMUNICATIONS - 0.5%
	46,000	Cellcom Israel Ltd.^(a)		158,736
	74,000	Partner Communications Company Ltd.^(a)		291,496
				450,232
		WHOLESALE - DISCRETIONARY - 1.3%
	17,300	Tadiran Group Ltd.		1,312,996

		TOTAL COMMON STOCKS (Cost $63,061,518)		95,444,378

		SHORT-TERM INVESTMENTS — 4.5%
		MONEY MARKET FUND - 4.5%
	4,446,563	Fidelity Government Portfolio, Class I, 4.99% (Cost $4,446,563)^(b)		4,446,563

		TOTAL INVESTMENTS - 100.3% (Cost $67,508,081)	$	99,890,941
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%		(300,180	)
		NET ASSETS - 100.0%	$	99,590,761

ADR	- American Depositary Receipt

LP	- Limited Partnership

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

^(a)

Non-income producing security.

^(b)

Rate disclosed is the seven day effective yield as of June 30, 2023.

SCHEDULE OF INVESTMENTS

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

JUNE 30, 2023

Diversification of Assets
Country	% of Net Assets
Israel		86.6	%
United States		6.7	%
United Kingdom		2.5	%
Total		95.8	%
Money Market Funds		4.5	%
Other Assets Less Liabilities -Net		(0.3	)%
Grand Total		100.0	%

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		CLOSED END FUNDS — 5.9%
		COMMODITY - 5.9%
	579,000	Sprott Physical Silver Trust^(a) (Cost $5,163,934)	$	4,510,410

		COMMON STOCKS — 42.4%
		CHEMICALS - 2.0%
	375	Albemarle Corporation		83,659
	2,778	CF Industries Holdings, Inc.		192,849
	1,853	FMC Corporation		193,342
	6,014	ICL Group Ltd.		32,957
	10,002	K+S A.G.		174,140
	5,282	Mosaic Company (The)		184,870
	5,109	Nutrien Ltd.		301,686
	5,206	OCI N.V.		124,810
	1,687	Sociedad Quimica y Minera de Chile S.A. - ADR		122,510
	3,555	Yara International ASA		125,528
				1,536,351
		DATA CENTER REIT - 1.2%
	8,000	Digital Realty Trust, Inc.		910,960

		DIVERSIFIED INDUSTRIALS - 0.1%
	638	Pentair PLC		41,215

		ELECTRIC UTILITIES - 0.1%
	503	Ormat Technologies, Inc.		40,471

		FOOD - 1.2%
	2,563	Adecoagro S.A.		23,990
	545	Cal-Maine Foods, Inc.		24,525
	1,977	Darling Ingredients, Inc.^(a)		126,113
	3,940	Hormel Foods Corporation		158,467
	1,749	Ingredion, Inc.		185,306
	5,400	MEIJI Holdings Company Ltd.		120,443

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		FOOD - 1.2% (Continued)
	2,300	Morinaga Milk Industry Company Ltd.	$	75,212
	6,365	Mowi ASA		100,930
	1,100	NH Foods Ltd.		29,742
	4,700	Nissui Corporation		21,048
	1,279	Pilgrim’s Pride Corporation^(a)		27,486
	841	Salmar ASA		33,919
				927,181
		FORESTRY, PAPER & WOOD PRODUCTS - 0.2%
	2,400	Canfor Corporation^(a)		43,082
	2,600	Interfor Corporation^(a)		49,027
	3,200	Sumitomo Forestry Company Ltd.		77,252
				169,361
		GAS & WATER UTILITIES - 1.0%
	403	American States Water Company		35,061
	929	American Water Works Company, Inc.		132,615
	1,254	California Water Service Group		64,744
	20,948	Cia de Saneamento Basico do Estado de Sao Paulo - ADR		248,024
	598	Essential Utilities, Inc.		23,866
	1,154	Severn Trent plc		37,605
	6,590	United Utilities Group plc		80,476
	6,602	Veolia Environnement S.A.		208,565
				830,956
		HEALTH CARE FACILITIES & SERVICES - 0.3%
	48,754	Brookdale Senior Living, Inc.^(a)		205,742

		INDUSTRIAL REIT - 0.7%
	2,900	EastGroup Properties, Inc.		503,440

		MACHINERY - 1.3%
	1,310	AGCO Corporation		172,160
	11,595	CNH Industrial N.V.		166,968
	858	Deere & Company		347,653
	16,900	Kubota Corporation		245,868
	2,700	Kurita Water Industries Ltd.		102,815

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		MACHINERY - 1.3% (Continued)
	840	Weir Group plc (The)	$	18,732
				1,054,196
		METALS & MINING - 4.2%
	1,243	Agnico Eagle Mines Ltd.		62,125
	2,934	Agnico Eagle Mines Ltd.		146,508
	692	Alamos Gold, Inc., Class A		8,249
	1,829	Alcoa Corporation		62,058
	2,553	Anglo American PLC		72,398
	1,172	AngloGold Ashanti Ltd. - ADR		24,717
	1,391	Antofagasta plc		25,809
	513	Aurubis A.G.		43,967
	59,125	B2Gold Corporation		211,077
	4,449	BHP Group Ltd. - ADR		265,472
	2,352	Cameco Corporation		73,688
	4,500	Capstone Copper Corporation^(a)		20,415
	3,247	Cia de Minas Buenaventura S.A.A - ADR		23,865
	964	Cleveland-Cliffs, Inc.^(a)		16,157
	1,125	Compass Minerals International, Inc.		38,250
	600	Endeavour Mining plc		14,380
	180	Eramet S.A.		16,431
	5,300	First Quantum Minerals Ltd.		125,386
	507	Franco-Nevada Corporation		72,298
	6,238	Freeport-McMoRan, Inc.		249,521
	1,842	Hecla Mining Company		9,486
	5,000	Hudbay Minerals, Inc.		23,967
	2,500	Ivanhoe Mines Ltd.^(a)		22,835
	20,463	Kinross Gold Corporation		97,609
	1,334	Lithium Americas Corporation^(a)		26,960
	22	Livent Corporation^(a)		603
	4,500	Mitsubishi Materials Corporation		80,579
	2,026	MP Materials Corporation^(a)		46,355
	993	Newmont Corporation		42,361
	21,491	Norsk Hydro ASA		127,743
	1,934	Pan American Silver Corporation		28,198

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		METALS & MINING - 4.2% (Continued)
	6,548	Rio Tinto plc - ADR	$	418,025
	188	Royal Gold, Inc.		21,579
	8,669	Sandstorm Gold Ltd.		44,385
	34	Sibanye Stillwater Ltd. - ADR		212
	881	Southern Copper Corporation		63,203
	6,047	SSR Mining, Inc.		85,746
	800	Sumitomo Metal Mining Company Ltd.		25,678
	1,143	Teck Resources Ltd., Class B		48,093
	22,215	Vale S.A. - ADR		298,125
	1,660	Warrior Met Coal, Inc.		64,657
	306	Wheaton Precious Metals Corporation		13,225
				3,162,395
		OFFICE REIT – 0.6%
	18,000	Highwoods Properties, Inc.		430,380

		OIL & GAS PRODUCERS - 7.7%
	5,196	Aker BP ASA		121,895
	3,408	APA Corporation		116,451
	8,400	ARC Resources Ltd.		112,044
	40,200	Baytex Energy Corporation^(a)		131,094
	2,357	Callon Petroleum Company^(a)		82,660
	6,224	Canadian Natural Resources Ltd.		350,161
	12,100	Cenovus Energy, Inc.		205,514
	592	Chord Energy Corporation		91,050
	1,338	Civitas Resources, Inc.		92,817
	1,701	CNX Resources Corporation^(a)		30,142
	3,310	ConocoPhillips		342,949
	4,962	Coterra Energy, Inc.		125,539
	21,800	Crescent Point Energy Corporation		146,789
	5,336	Devon Energy Corporation		257,942
	1,189	Diamondback Energy, Inc.		156,187
	3,518	Enerplus Corporation		50,905
	1,525	Eni SpA - ADR		43,905
	3,369	EOG Resources, Inc.		385,547

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		OIL & GAS PRODUCERS - 7.7% (Continued)
	127	EQT Corporation	$	5,224
	8,976	Equinor ASA - ADR		262,189
	42	Hess Corporation		5,710
	2,300	Imperial Oil Ltd.		117,680
	24,000	Inpex Corporation		265,822
	5,174	Kosmos Energy Ltd.^(a)		30,992
	1,380	Magnolia Oil & Gas Corporation, Class A		28,842
	6,233	Marathon Oil Corporation		143,484
	1,615	Matador Resources Company		84,497
	9,700	MEG Energy Corporation^(a)		153,767
	1,677	Murphy Oil Corporation		64,229
	1,901	Occidental Petroleum Corporation		111,779
	650	Ovintiv, Inc.		24,746
	2,800	Parex Resources, Inc.		56,138
	1,975	PDC Energy, Inc.		140,502
	13,405	Petroleo Brasileiro S.A. - ADR		185,391
	1,256	Pioneer Natural Resources Company		260,218
	2,900	PrairieSky Royalty Ltd.		50,700
	1,670	Range Resources Corporation		49,098
	3,139	SM Energy Company		99,287
	9,131	Southwestern Energy Company^(a)		54,877
	7,100	Suncor Energy, Inc.		208,273
	2,403	TotalEnergies S.E.		137,798
	3,100	Tourmaline Oil Corporation		146,069
	14,900	Vermilion Energy, Inc.		185,810
	14,500	Whitecap Resources, Inc.		101,466
				5,818,179
		OIL & GAS SERVICES & EQUIPMENT - 1.1%
	3,881	Baker Hughes Company		122,678
	2,561	ChampionX Corporation		79,493
	3,524	Halliburton Company		116,257
	770	Helmerich & Payne, Inc.		27,297
	7,939	Liberty Oilfield Services, Inc., Class A		106,144
	1,425	NOV, Inc.		22,857

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		OIL & GAS SERVICES & EQUIPMENT - 1.1% (Continued)
	3,391	Patterson-UTI Energy, Inc.	$	40,590
	4,683	Schlumberger Ltd.		230,029
	18,096	Transocean Ltd.^(a)		126,853
				872,198
		REAL ESTATE INVESTMENT TRUSTS - 17.1%
	19,500	American Homes 4 Rent, Class A		691,275
	16,000	Americold Realty Trust, Inc.		516,800
	10,000	Armada Hoffler Properties, Inc.		116,800
	5,800	AvalonBay Communities, Inc.		1,097,766
	5,500	Camden Property Trust		598,785
	10,000	Crown Castle, Inc.		1,139,400
	19,000	CTO Realty Growth, Inc.		325,660
	1,150	Equinix, Inc.		901,531
	22,000	InvenTrust Properties Corporation		509,080
	4,800	Life Storage, Inc.		638,208
	19,000	Plymouth Industrial REIT, Inc.		437,380
	930	PotlatchDeltic Corporation		49,151
	11,000	Prologis, Inc.		1,348,930
	2,750	Public Storage		802,670
	2,865	Rayonier, Inc.		89,961
	3,700	SBA Communications Corporation, A		857,512
	40,000	SITE Centers Corporation		528,800
	4,550	Sun Communities, Inc.		593,593
	18,000	Ventas, Inc.		850,860
	11,000	Welltower, Inc.		889,790
	5,069	Weyerhaeuser Company		169,862
				13,153,814
		RENEWABLE ENERGY - 0.5%
	155	Array Technologies, Inc.^(a)		3,503
	2,006	Atlantica Sustainable Infrastructure plc		47,021
	2,867	Daqo New Energy Corporation - ADR^(a)		113,820
	508	Enphase Energy, Inc.^(a)		85,080
	404	First Solar, Inc.^(a)		76,796
	1,733	Green Plains, Inc.^(a)		55,872

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCKS — 42.4% (Continued)
		RENEWABLE ENERGY - 0.5% (Continued)
	183	SolarEdge Technologies, Inc.^(a)	$	49,236
				431,328
		RESIDENTIAL REIT - 1.9%
	7,000	Equity Residential		461,790
	28,000	Invitation Homes, Inc.		963,200
				1,424,990
		SEMICONDUCTORS - 0.1%
	7,400	SUMCO Corporation		104,017

		STEEL - 0.8%
	873	ArcelorMittal S.A. - ADR		23,868
	1,303	ATI, Inc.^(a)		57,632
	1,374	Gerdau S.A. - ADR		7,172
	2,200	JFE Holdings, Inc.		31,259
	850	Nucor Corporation		139,383
	2,000	OSAKA Titanium Technologies Company Ltd.		40,755
	140	Reliance Steel & Aluminum Company		38,023
	1,024	Steel Dynamics, Inc.		111,544
	1,300	Stelco Holdings, Inc.		42,413
	1,624	Ternium S.A. - ADR		64,392
	4,041	United States Steel Corporation		101,065
				657,506
		WHOLESALE - CONSUMER STAPLES - 0.3%
	2,308	Bunge Ltd.		217,760

		TOTAL COMMON STOCKS (Cost $32,251,140)		32,492,440

		EXCHANGE-TRADED FUNDS — 10.2%
		EQUITY - 7.6%
	240,000	Timothy Plan Market Neutral ETF^(b)		5,839,608

		SPECIALTY - 2.6%
	106,000	Invesco DB US Dollar Index Bearish Fund		1,993,860

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares					Fair Value
		TOTAL EXCHANGE-TRADED FUNDS (Cost $8,005,175)			$	7,833,468

		PRECIOUS METALS - PHYSICAL HOLDING — 15.4%
		PRECIOUS METAL - 15.4%
	6,143	GOLD BARS - XAU BGN CURNCY^(a) (Cost $7,240,876)				11,785,130

Principal			Coupon Rate
Amount ($)			(%)	Maturity
		U.S. GOVERNMENT & AGENCIES — 22.3%
		U.S. TREASURY INFLATION PROTECTED — 22.3%
	2,013,007	United States Treasury Inflation Indexed Bonds	0.6250	01/15/24		2,006,587
	2,039,475	United States Treasury Inflation Indexed Bonds	2.3750	01/15/25		2,046,507
	2,193,165	United States Treasury Inflation Indexed Bonds	2.0000	01/15/26		2,194,136
	2,151,075	United States Treasury Inflation Indexed Bonds	2.3750	01/15/27		2,192,114
	1,970,898	United States Treasury Inflation Indexed Bonds	0.5000	01/15/28		1,869,121
	935,366	United States Treasury Inflation Indexed Bonds	1.7500	01/15/28		937,456
	1,457,329	United States Treasury Inflation Indexed Bonds	0.8750	01/15/29		1,398,819
	1,477,036	United States Treasury Inflation Indexed Bonds	2.5000	01/15/29		1,542,515
	1,608,964	United States Treasury Inflation Indexed Bonds	0.1250	01/15/31		1,449,547
	321,041	United States Treasury Inflation Indexed Bonds	2.1250	02/15/41		349,159
	1,545,540	United States Treasury Inflation Indexed Bonds	0.1250	02/15/51		1,043,673
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $18,972,552)				17,029,634

Shares
		SHORT-TERM INVESTMENTS — 3.6%
		MONEY MARKET FUNDS - 3.6%
	2,754,122	Fidelity Government Portfolio, Class I, 4.98% (Cost $2,754,122)^(c)				2,754,122

		TOTAL INVESTMENTS - 99.8% (Cost $74,387,799)			$	76,405,204
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2%				131,707
		NET ASSETS - 100.0%			$	76,536,911

ADR	- American Depositary Receipt

ETF	- Exchange-Traded Fund

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

S/A	- Société Anonyme

^(a)

Non-income producing security.

^(b)

Investment in affiliate.

^(c)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN STRATEGIC GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 62.5%
		EQUITY - 62.5%
	120,406	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	2,738,622
	220,056	Timothy Plan International ETF^(a)		5,551,969
	212,700	Timothy Plan Market Neutral ETF^(a)		5,175,353
	227,939	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		5,240,272
	94,023	Timothy Plan US Small Cap Core ETF^(a)		2,997,829
		TOTAL EXCHANGE-TRADED FUNDS (Cost$21,897,046)		21,704,045

		OPEN END FUNDS — 35.0%
		EQUITY -8.3%
	247,297	Timothy Plan International Fund, Class A^(a)		2,871,118

		FIXED INCOME - 17.7%
	452,351	Timothy Plan Fixed Income Fund, Class A^(a)		4,084,726
	244,247	Timothy Plan High Yield Bond Fund, Class A^(a)		2,063,886
				6,148,612
		MIXED ALLOCATION -9.0%
	238,200	Timothy Plan Defensive Strategies Fund, Class A^(a)		3,110,887

		TOTAL OPEN END FUNDS (Cost$12,583,323)		12,130,617

		SHORT-TERM INVESTMENTS — 2.4%
		MONEY MARKET FUNDS -2.4%
	820,715	Fidelity Government Portfolio, Class I, 4.98% (Cost $820,715)^(b)		820,715

		TOTAL INVESTMENTS -99.9% (Cost $35,301,084)	$	34,655,377
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%		19,258
		NET ASSETS -100.0%	$	34,674,635

ETF	- Exchange-Traded Fund

^(a)

Investment in affiliate.

^(b)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN CONSERVATIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 47.8%
		EQUITY - 47.8%
	108,260	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	2,462,363
	148,144	Timothy Plan International ETF^(a)		3,737,643
	253,600	Timothy Plan Market Neutral ETF^(a)		6,170,519
	218,186	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		5,016,053
	70,305	Timothy Plan US Small Cap Core ETF^(a)		2,241,605
		TOTAL EXCHANGE-TRADED FUNDS (Cost$19,943,998)		19,628,183

		OPEN END FUNDS — 49.2%
		EQUITY -5.8%
	203,500	Timothy Plan International Fund, Class A^(a)		2,362,635

		FIXED INCOME - 36.3%
	1,353,057	Timothy Plan Fixed Income Fund, Class A^(a)		12,218,102
	316,595	Timothy Plan High Yield Bond Fund, Class A^(a)		2,675,227
				14,893,329
		MIXED ALLOCATION - 7.1%
	221,692	Timothy Plan Defensive Strategies Fund, Class A^(a)		2,895,298

		TOTAL OPEN END FUNDS (Cost $21,736,326)		20,151,262

		SHORT-TERM INVESTMENTS — 2.9%
		MONEY MARKET FUNDS -2.9%
	1,207,514	Fidelity Government Portfolio, Class I, 4.98% (Cost $1,207,514)^(b)		1,207,514

		TOTAL INVESTMENTS -99.9% (Cost $42,887,838)	$	40,986,959
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%		59,948
		NET ASSETS -100.0%	$	41,046,907

ETF	- Exchange-Traded Fund

^(a)

Investment in affiliate.

^(b)

Rate disclosed is the seven day effective yield as of June 30, 2023.

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 42.9%
		EQUITY - 42.9%
	295,000	Timothy Plan High Dividend Stock Enhanced ETF^(a)			$	6,709,745
	27,500	Timothy Plan High Dividend Stock ETF^(a)				866,200
		TOTAL EXCHANGE-TRADED FUNDS (Cost$8,197,972)				7,575,945

Principal			Coupon Rate
Amount ($)			(%)	Maturity
		CORPORATE BONDS — 16.5%
		CHEMICALS —1.7%
	59,000	LYB International Finance BV	4.0000	07/15/23		58,920
	85,000	Nutrien Ltd.	4.0000	12/15/26		81,526
	195,000	Nutrien Ltd.	2.9500	05/13/30		169,215
						309,661
		COMMERCIAL SUPPORT SERVICES —0.7%
	70,000	Republic Services, Inc.	5.0000	04/01/34		69,814
	50,000	Waste Management, Inc.	4.6250	02/15/33		48,954
						118,768
		ELECTRIC UTILITIES — 2.2%
	245,000	American Electric Power Company, Inc.	3.2000	11/13/27		226,249
	45,000	National Rural Utilities Cooperative Finance	2.9500	02/07/24		44,255
	95,000	National Rural Utilities Cooperative Finance	5.0500	09/15/28		94,668
	22,000	WEC Energy Group, Inc.	3.5500	06/15/25		21,096
						386,268
		GAS & WATER UTILITIES —1.3%
	240,000	NiSource, Inc.	3.4900	05/15/27		225,734

		INSTITUTIONAL FINANCIAL SERVICES — 0.3%
	55,000	Cboe Global Markets, Inc.	3.6500	01/12/27		52,290

		MACHINERY — 1.5%
	100,000	Caterpillar Financial Services Corporation	4.3500	05/15/26		98,413
	170,000	John Deere Capital Corporation	4.3500	09/15/32		166,745
						265,158

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		CORPORATE BONDS — 16.5% (Continued)
		METALS & MINING — 1.4%
	120,000	BHP Billiton Finance USA Ltd.	4.9000	02/28/33	$	119,476
	120,000	Rio Tinto Finance USA plc	5.0000	03/09/33		120,913
						240,389
		OIL & GAS PRODUCERS —3.4%
	85,000	Columbia Pipeline Group, Inc.	4.5000	06/01/25		82,940
	220,000	Energy Transfer Operating, L.P.	6.2500	04/15/49		214,331
	125,000	Energy Transfer, L.P.	5.7500	02/15/33		125,807
	70,000	Enterprise Products Operating, LLC	5.3500	01/31/33		71,154
	115,000	Phillips 66 Company	3.6050	02/15/25		110,945
						605,177
		REAL ESTATE INVESTMENT TRUSTS —1.5%
	170,000	Digital Realty Trust, L.P.	3.7000	08/15/27		156,091
	120,000	Healthpeak Properties, Inc.	3.5000	07/15/29		107,554
						263,645
		RETAIL - CONSUMER STAPLES — 0.9%
	175,000	Dollar General Corporation	4.1250	05/01/28		166,259

		TRANSPORTATION & LOGISTICS — 1.6%
	55,000	Canadian Pacific Railway Company	2.9000	02/01/25		52,750
	240,000	CSX Corporation	3.2500	06/01/27		225,774
						278,524

		TOTAL CORPORATE BONDS (Cost $3,011,800)				2,911,873

		NON U.S. GOVERNMENT & AGENCIES — 1.3%
		LOCAL AUTHORITY — 1.3%
	250,000	Province of Ontario Canada (Cost $245,005)	2.5000	04/27/26		234,986

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 37.9%
		AGENCY FIXED RATE — 18.1%
	113,267	Fannie Mae Pool FM5537	2.0000	01/01/36	$	100,497
	75,785	Fannie Mae Pool MA4316	2.5000	04/01/36		69,001
	61,492	Fannie Mae Pool MA4333	2.0000	05/01/41		52,365
	21,451	Fannie Mae Pool MA4475	2.5000	10/01/41		18,648
	63,907	Fannie Mae Pool MA4617	3.0000	04/01/42		57,397
	50,587	Fannie Mae Pool FM4053	2.5000	08/01/50		43,325
	53,407	Fannie Mae Pool CA8897	3.0000	02/01/51		47,524
	8,094	Fannie Mae Pool MA4258	3.5000	02/01/51		7,425
	20,828	Fannie Mae Pool FM6550	2.0000	03/01/51		17,164
	46,764	Fannie Mae Pool FS1564	2.0000	04/01/51		38,307
	40,973	Fannie Mae Pool CB0855	3.0000	06/01/51		36,170
	108,381	Fannie Mae Pool FS1807	3.5000	07/01/51		99,895
	49,700	Fannie Mae Pool FS4624	2.5000	11/01/51		42,400
	54,963	Fannie Mae Pool CB2857	2.5000	02/01/52		46,974
	103,688	Fannie Mae Pool CB3486	3.5000	05/01/52		94,594
	73,313	Fannie Mae Pool FS1704	4.0000	05/01/52		69,271
	130,095	Fannie Mae Pool BV9960	4.0000	06/01/52		122,354
	109,798	Fannie Mae Pool FS3071	3.0000	07/01/52		97,538
	106,424	Fannie Mae Pool FS3392	4.0000	09/01/52		99,927
	95,485	Fannie Mae Pool FS3159	4.5000	10/01/52		92,259
	93,922	Fannie Mae Pool FS4075	5.0000	04/01/53		92,630
	44,773	Fannie Mae Pool FS4621	5.0000	06/01/53		44,102
	50,568	Ginnie Mae I Pool 723248	5.0000	10/15/39		50,862
	52,424	Ginnie Mae I Pool 783403	3.5000	09/15/41		49,459
	44,773	Ginnie Mae II Pool MA3376	3.5000	01/20/46		42,013
	33,506	Ginnie Mae II Pool MA3596	3.0000	04/20/46		30,496
	28,780	Ginnie Mae II Pool MA3663	3.5000	05/20/46		26,989
	37,261	Ginnie Mae II Pool MA3736	3.5000	06/20/46		34,955
	12,690	Ginnie Mae II Pool MA4509	3.0000	06/20/47		11,500
	35,574	Ginnie Mae II Pool MA4652	3.5000	08/20/47		33,248
	33,536	Ginnie Mae II Pool MA4719	3.5000	09/20/47		31,331
	64,083	Ginnie Mae II Pool MA4778	3.5000	10/20/47		59,984
	24,754	Ginnie Mae II Pool MA6092	4.5000	08/20/49		24,041
	19,165	Ginnie Mae II Pool MA6156	4.5000	09/20/49		18,677

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 37.9% (Continued)
		AGENCY FIXED RATE — 18.1% (Continued)
	45,384	Ginnie Mae II Pool BN2662	3.0000	10/20/49	$	40,604
	20,416	Ginnie Mae II Pool MA6221	4.5000	10/20/49		19,961
	18,695	Ginnie Mae II Pool MA6478	5.0000	02/20/50		18,678
	22,347	Ginnie Mae II Pool MA6544	4.5000	03/20/50		21,857
	14,312	Ginnie Mae II Pool MA6545	5.0000	03/20/50		14,301
	100,330	Ginnie Mae II Pool MA6598	2.5000	04/20/50		87,499
	22,352	Ginnie Mae II Pool MA6600	3.5000	04/20/50		20,828
	20,368	Ginnie Mae II Pool MA6601	4.0000	04/20/50		19,423
	26,185	Ginnie Mae II Pool MA6603	5.0000	04/20/50		26,160
	48,632	Ginnie Mae II Pool MA7255	2.5000	03/20/51		42,266
	39,551	Ginnie Mae II Pool MA7418	2.5000	06/20/51		34,301
	60,103	Ginnie Mae II Pool MA7419	3.0000	06/20/51		53,963
	53,352	Ginnie Mae II Pool MA7472	2.5000	07/20/51		46,188
	67,715	Ginnie Mae II Pool CE1974	3.0000	08/20/51		61,255
	75,218	Ginnie Mae II Pool CE1990	2.5000	09/20/51		65,065
	135,615	Ginnie Mae II Pool MA7705	2.5000	11/20/51		117,384
	140,443	Ginnie Mae II Pool MA7768	3.0000	12/20/51		125,742
	58,833	Ginnie Mae II Pool MA7829	3.5000	01/20/52		54,308
	78,304	Ginnie Mae II Pool MA7939	4.0000	03/20/52		74,084
	143,250	Ginnie Mae II Pool MA7987	2.5000	04/20/52		124,032
	136,907	Ginnie Mae II Pool MA8098	3.0000	06/20/52		122,438
	111,714	Ginnie Mae II Pool MA8268	4.5000	09/20/52		107,934
	94,562	Ginnie Mae II Pool MA8800	5.0000	04/20/53		93,020
		TOTAL AGENCY FIXED RATE (Cost $3,441,810)				3,194,613

		U.S. TREASURY NOTES — 19.8%
	210,000	United States Treasury Note	2.2500	11/15/24		201,641
	265,000	United States Treasury Note	2.0000	08/15/25		249,959
	565,000	United States Treasury Note	0.6250	07/31/26		503,225
	600,000	United States Treasury Note	1.2500	09/30/28		519,211
	640,000	United States Treasury Note	1.2500	08/15/31		524,950
	540.000	United States Treasury Note	3.500	02/15/33		525,741
	430,000	United States Treasury Note	1.7500	08/15/41		301,554
	250,000	United States Treasury Note	2.0000	08/15/51		170,098

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Principal			Coupon Rate
Amount ($)			(%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 37.9% (Continued)
		U.S. TREASURY NOTES — 19.8% (Continued)
	520,000	United States Treasury Note	3.6250	02/15/53	$	498,225
		TOTAL U.S. TREASURY NOTES (Cost $3,545,675)				3,494,604

		TOTAL U.S. GOVERNMENT & AGENCIES (Cost$6,987,485 )				6,689,217

		SHORT-TERM INVESTMENTS — 1.1%
		MONEY MARKET FUNDS - 1.1%
	200,992	Fidelity Government Portfolio, Class I, 4.98% (Cost $200,992)^(b)				200,992

		TOTAL INVESTMENTS - 99.7% (Cost $18,643,254)			$	17,613,013
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.3%				52,176
		NET ASSETS - 100.0%			$	17,665,189

ETF	- Exchange-Traded Fund

LLC	- Limited Liability Company

LP	- Limited Partnership

LTD	- Limited Company

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

^(a)

Investment in affiliate.

^(b)

Rate disclosed is the seven day effective yield as of June 30, 2023.