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        <name>Avient Corporation</name>
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        <name>Avient Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Axalta Coating Systems LLC</name>
        <lei>549300G80QONCHILSF69</lei>
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        <name>BCPE Empire Topco Inc</name>
        <lei>254900WAPTMZOCP01B52</lei>
        <title>IMPPAP 7 5/8 05/01/27</title>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>BWX Technologies Inc</name>
        <lei>549300NP85N265KWMS58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BWX Technologies Inc</name>
        <lei>549300NP85N265KWMS58</lei>
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        <name>Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.</name>
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        <title>BRP 7 1/8 05/15/31</title>
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        <name>Bausch Plus Lomb Corp.</name>
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        <name>Beacon Roofing Supply, Inc.</name>
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        <name>Brinker International, Inc.</name>
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        <title>EAT 8 1/4 07/15/30</title>
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        <name>Builders Firstsource, Inc.</name>
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        <name>Burford Capital Global Finance LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURLN 6 1/4 04/15/28</title>
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        <name>Burford Capital Global Finance LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURLN 9 1/4 07/01/31</title>
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        <name>Champions Financing Inc.</name>
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        <name>The Chemours Company LLC</name>
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        <name>Ciena Corporation</name>
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        <name>Clean Harbors, Inc.</name>
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        <name>Commercial Metals Company</name>
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        <name>Covanta Holding Corporation</name>
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        <name>Darling Ingredients, Inc</name>
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        <name>Diversified Healthcare Trust</name>
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        <name>Goodyear Tire &amp; Rubber Co. The</name>
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        <name>Enviri Corp.</name>
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        <name>Heartland Dental LLC / Heartland Dental Finance Corp.</name>
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        <name>Howard Hughes Holdings Inc.</name>
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        <name>HUB International Ltd.</name>
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        <name>ILFC E-Capital Trust I</name>
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        <name>INEOS Finance PLC</name>
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        <name>Ingles Markets, Incorporated</name>
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        <name>Insight Enterprises Inc.</name>
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        <name>Insulet Corporation</name>
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        <name>Interface, Inc.</name>
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        <title>TILE 5 1/2 12/01/28</title>
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        <name>Jefferies Finance LLC/JFIN Co-Issuer Corp</name>
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        <title>JEFFIN 6 5/8 10/15/31</title>
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      <invstOrSec>
        <name>Kaiser Aluminium Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ken Garff Automotive Llc</name>
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        <name>LABL Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LABL Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LABL Inc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.</name>
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        <title>LADR 4 1/4 02/01/27</title>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1218309.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.</name>
        <lei>N/A</lei>
        <title>LADR 7 07/15/31</title>
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        <curCd>USD</curCd>
        <valUSD>1027090.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lithia Motors Incorporated</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>LAD 4 3/8 01/15/31</title>
        <cusip>536797AF0</cusip>
        <identifiers>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680617.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <name>Lithia Motors Incorporated</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>LAD 3 7/8 06/01/29</title>
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        <valUSD>1374616.35000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>MPT Operating Partnership LP / MPT Finance Corporation</name>
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        <title>MPW 8 1/2 02/15/32</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Mauser Packaging Solutions Holding Co.</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>BWY 7 7/8 04/15/27</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.87500000</annualizedRt>
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        <name>Pediatrix Medical Group Inc</name>
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        <title>MD 5 3/8 02/15/30</title>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>MEDIND 3 7/8 04/01/29</title>
        <cusip>62482BAA0</cusip>
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        <balance>1000000.00000000</balance>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>MEDIND 5 1/4 10/01/29</title>
        <cusip>62482BAB8</cusip>
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        <name>Nationstar Mortgage Holdings Inc</name>
        <lei>N/A</lei>
        <title>COOP 6 01/15/27</title>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Nationstar Mortgage Holdings Inc</name>
        <lei>N/A</lei>
        <title>COOP 5 1/2 08/15/28</title>
        <cusip>63861CAC3</cusip>
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        <valUSD>1240219.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <lei>N/A</lei>
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        <name>Rithm Capital Corp.</name>
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      <invstOrSec>
        <name>Rithm Capital Corp.</name>
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        <name>Newmark Group Inc</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-12</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Nustar Logistics, L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Permian Resources Operating, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PROG Holdings Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Quikrete Holdings Inc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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        <name>SPX Flow Inc.</name>
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        <title>FLOW 8 3/4 04/01/30</title>
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          <isin value="US758071AA21"/>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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        <name>Upbound Group Inc</name>
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        <title>UPBD 6 3/8 02/15/29</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.37500000</annualizedRt>
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        <name>Ryan Specialty LLC</name>
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        <name>Sally Holdings LLC</name>
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        <name>Mativ Holdings Inc</name>
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        <name>Service Properties Trust</name>
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        <name>Service Properties Trust</name>
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        <name>Sonic Automotive, Inc.</name>
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        <name>Sotera Health Holdings LLC</name>
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        <valUSD>1000138.37000000</valUSD>
        <pctVal>0.485038148176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Walker &amp; Dunlop Inc.</name>
        <lei>N/A</lei>
        <title>WD 6 5/8 04/01/33</title>
        <cusip>93148PAA0</cusip>
        <identifiers>
          <isin value="US93148PAA03"/>
        </identifiers>
        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>652575.99000000</valUSD>
        <pctVal>0.316480458332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waste Pro USA Inc</name>
        <lei>549300BY1QXU5BI3UF28</lei>
        <title>WASPRO 7 02/01/33</title>
        <cusip>94107JAC7</cusip>
        <identifiers>
          <isin value="US94107JAC71"/>
        </identifiers>
        <balance>2225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2236532.18000000</valUSD>
        <pctVal>1.084653343440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weekley Homes LLC/Weekley Finance Corp.</name>
        <lei>5493009MTTQO8ZN53F13</lei>
        <title>WEEKHM 4 7/8 09/15/28</title>
        <cusip>948565AD8</cusip>
        <identifiers>
          <isin value="US948565AD85"/>
        </identifiers>
        <balance>2023000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1918519.54000000</valUSD>
        <pctVal>0.930426421817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wesco Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WCC 6 3/8 03/15/29</title>
        <cusip>95081QAQ7</cusip>
        <identifiers>
          <isin value="US95081QAQ73"/>
        </identifiers>
        <balance>1360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1377152.32000000</valUSD>
        <pctVal>0.667878996632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wesco Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WCC 6 5/8 03/15/32</title>
        <cusip>95081QAR5</cusip>
        <identifiers>
          <isin value="US95081QAR56"/>
        </identifiers>
        <balance>1360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1378362.75000000</valUSD>
        <pctVal>0.668466020131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Williams Scotsman Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
        <title>WLSC 6 5/8 06/15/29</title>
        <cusip>96949VAM5</cusip>
        <identifiers>
          <isin value="US96949VAM54"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1012119.00000000</valUSD>
        <pctVal>0.490848406799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zebra Technologies Corporation</name>
        <lei>PO0I32GKZ3HZMMDPZZ08</lei>
        <title>ZBRA 6 1/2 06/01/32</title>
        <cusip>989207AD7</cusip>
        <identifiers>
          <isin value="US989207AD75"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1012765.00000000</valUSD>
        <pctVal>0.491161698093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-28</ncom:dateSigned>
      <ncom:nameOfApplicant>TIMOTHY PLAN</ncom:nameOfApplicant>
      <ncom:signature>Arthur D. Ally</ncom:signature>
      <ncom:signerName>Arthur D. Ally</ncom:signerName>
      <ncom:title>President &amp; Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
