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        <name>Canpack SA And Canpack US LLC</name>
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        <name>UKG Inc.</name>
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        <name>Builders Firstsource, Inc.</name>
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        <name>Insulet Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Walker &amp; Dunlop Inc.</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>ITT Holdings LLC</name>
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        <name>Rithm Capital Corp.</name>
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        <title>RITM 6 1/4 10/15/25</title>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
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        <name>Air Lease Corporation</name>
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        <name>Axalta Coating Systems LLC</name>
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        <name>W. R. Grace Holdings Llc</name>
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        <name>Rithm Capital Corp.</name>
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        <title>RITM 8 07/15/30</title>
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        <name>Genesis Energy LP &amp; Genesis Energy Finance Corp.</name>
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        <title>GEL 7 3/4 02/01/28</title>
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        <name>LABL Inc</name>
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        <title>LABL 5 7/8 11/01/28</title>
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        <name>Lithia Motors Incorporated</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>LAD 4 3/8 01/15/31</title>
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        <name>TransDigm, Inc.</name>
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        <name>VT Topco Inc.</name>
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        <name>Avient Corporation</name>
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        <name>HUB International Ltd.</name>
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        <name>Covanta Holding Corporation</name>
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        <name>Weekley Homes LLC/Weekley Finance Corp.</name>
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        <name>The Chemours Company LLC</name>
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        <name>TransDigm, Inc.</name>
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        <name>CQP Holdco LP &amp; Bip-V Chinook Holdco LLC</name>
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        <name>Bausch Plus Lomb Corp.</name>
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        <name>MPT Operating Partnership LP / MPT Finance Corporation</name>
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        <name>Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC</name>
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        <name>Enviri Corp.</name>
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        <name>The Chemours Company LLC</name>
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        <name>Newmark Group Inc</name>
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        <name>Zebra Technologies Corporation</name>
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        <name>Goodyear Tire &amp; Rubber Co. The</name>
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        <name>Williams Scotsman Inc.</name>
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        <name>Service Properties Trust</name>
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        <name>AG TTMT Escrow Issuer LLC</name>
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        <name>CACI International Inc.</name>
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        <name>Commercial Metals Company</name>
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        <name>INEOS Finance PLC</name>
        <lei>2138002D68XDR4LZCG32</lei>
        <title>INEGRP 7 1/2 04/15/29</title>
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        <name>Trivium Packaging Finance BV</name>
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        <name>Pennymac Financial Services Inc</name>
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        <name>Acrisure Llc / Acrisure Fin Inc</name>
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        <name>QXO Building Products Inc.</name>
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        <name>KeHE Distributors, LLC / keHE Finance Corp.</name>
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        <name>ILFC E-Capital Trust I</name>
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        <name>W. R. Grace Holdings Llc</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Ken Garff Automotive Llc</name>
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        <name>PROG Holdings Inc.</name>
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        <name>Adient Global Holdings Ltd</name>
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        <name>Standard Building Solutions Inc.</name>
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        <name>Waste Pro USA Inc</name>
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        <name>Alpha Generation LLC</name>
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        <name>Allied Universal Holdco LLC / Allied Universal Finance Corporation</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>ESAB Corp.</name>
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        <name>Pediatrix Medical Group Inc</name>
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        <name>BWX Technologies Inc.</name>
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        <name>Interface, Inc.</name>
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        <name>Ingles Markets, Incorporated</name>
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        <name>Wesco Distribution, Inc.</name>
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        <name>Energizer Holdings Inc</name>
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        <name>BWX Technologies Inc.</name>
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        <name>Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp.</name>
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        <name>CQP Holdco LP &amp; Bip-V Chinook Holdco LLC</name>
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        <name>ILFC E-Capital Trust II</name>
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        <name>Service Properties Trust</name>
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        <name>Ashton Woods (USA) LLC/Ashton Woods Finance Co.</name>
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        <name>Concentra Health Services Inc.</name>
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        <name>Champions Financing Inc.</name>
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        <title>CRASHC 8 3/4 02/15/29</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.</name>
        <lei>5493004GCDREAQPPYG20</lei>
        <title>BRP 7 1/8 05/15/31</title>
        <cusip>05825XAA7</cusip>
        <identifiers>
          <isin value="US05825XAA72"/>
        </identifiers>
        <balance>1075000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1118196.73000000</valUSD>
        <pctVal>0.501559983834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</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>Cougar JV Subsidiary LLC</name>
        <lei>N/A</lei>
        <title>HUDAUT 8 05/15/32</title>
        <cusip>22208WAA1</cusip>
        <identifiers>
          <isin value="US22208WAA18"/>
        </identifiers>
        <balance>1065000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1135674.47000000</valUSD>
        <pctVal>0.509399512207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>Clean Harbors, Inc.</name>
        <lei>5493000SJVZVZJKHJF48</lei>
        <title>CLH 6 3/8 02/01/31</title>
        <cusip>184496AQ0</cusip>
        <identifiers>
          <isin value="US184496AQ03"/>
        </identifiers>
        <balance>1625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1665711.13000000</valUSD>
        <pctVal>0.747144062418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</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>Adient Global Holdings Ltd</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>ADNT 7 1/2 02/15/33</title>
        <cusip>00687YAD7</cusip>
        <identifiers>
          <isin value="US00687YAD76"/>
        </identifiers>
        <balance>2705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2768507.67000000</valUSD>
        <pctVal>1.241796389629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>Global Partners LP / GLP Finance Corp.</name>
        <lei>549300PCHWTW9P4DU444</lei>
        <title>GLP 8 1/4 01/15/32</title>
        <cusip>37954FAK0</cusip>
        <identifiers>
          <isin value="US37954FAK03"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3682826.00000000</valUSD>
        <pctVal>1.651908022503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</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>Goat Holdco LLC</name>
        <lei>N/A</lei>
        <title>BARNES 6 3/4 02/01/32</title>
        <cusip>38021MAA4</cusip>
        <identifiers>
          <isin value="US38021MAA45"/>
        </identifiers>
        <balance>1165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1185358.38000000</valUSD>
        <pctVal>0.531684911929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</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>Insight Enterprises Inc.</name>
        <lei>529900S8991TYW6YP792</lei>
        <title>NSIT 6 5/8 05/15/32</title>
        <cusip>45765UAC7</cusip>
        <identifiers>
          <isin value="US45765UAC71"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1031051.00000000</valUSD>
        <pctVal>0.462471324605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</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>Mativ Holdings Inc</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>MATV 8 10/01/29</title>
        <cusip>808541AC0</cusip>
        <identifiers>
          <isin value="US808541AC08"/>
        </identifiers>
        <balance>5065000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4594926.47000000</valUSD>
        <pctVal>2.061024848473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>Kaiser Aluminium Corporation</name>
        <lei>N/A</lei>
        <title>KALU 4 1/2 06/01/31</title>
        <cusip>483007AL4</cusip>
        <identifiers>
          <isin value="US483007AL48"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1871625.20000000</valUSD>
        <pctVal>0.839505500123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Ryan Specialty LLC</name>
        <lei>N/A</lei>
        <title>RYASPE 5 7/8 08/01/32</title>
        <cusip>78351GAA3</cusip>
        <identifiers>
          <isin value="US78351GAA31"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1008505.16000000</valUSD>
        <pctVal>0.452358532425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>Aretec Escrow Issuer 2 Inc.</name>
        <lei>N/A</lei>
        <title>RCAP 10 08/15/30</title>
        <cusip>04020JAA4</cusip>
        <identifiers>
          <isin value="US04020JAA43"/>
        </identifiers>
        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1925430.10000000</valUSD>
        <pctVal>0.863639343525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</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>Howard Hughes Holdings Inc.</name>
        <lei>N/A</lei>
        <title>HHH 4 3/8 02/01/31</title>
        <cusip>44267DAF4</cusip>
        <identifiers>
          <isin value="US44267DAF42"/>
        </identifiers>
        <balance>2999000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2769415.75000000</valUSD>
        <pctVal>1.242203703099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>2025-07-28</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>
  <documents>XXXX</documents>
</edgarSubmission>
