SEMI-ANNUAL REPORT |
|
June 30, 2023 |
|
Ticker | |
TIMOTHY PLAN US SMALL CAP CORE ETF |
TPSC |
TIMOTHY PLAN US LARGE/MID CAP CORE ETF |
TPLC |
TIMOTHY PLAN HIGH DIVIDEND STOCK ETF |
TPHD |
TIMOTHY PLAN INTERNATIONAL ETF |
TPIF |
TIMOTHY PLAN US LARGE/MID CAP CORE ENHANCED ETF |
TPLE |
TIMOTHY PLAN HIGH DIVIDEND STOCK ENHANCED ETF |
TPHE |
TIMOTHY PLAN MARKET NEUTRAL ETF |
TPMN |
Listed and traded on: The New York Stock Exchange |
Table of Contents
Schedules of Portfolio Investments |
1 |
Statements of Assets and Liabilities |
35 |
Statements of Operations |
39 |
Statements of Changes in Net Assets |
43 |
Financial Highlights |
47 |
Notes to Financial Statements |
54 |
Other Information |
65 |
Liquidity Risk Management Program |
67 |
Approval of Investment Advisory and Sub-Advisory Agreement |
68 |
Schedule of Portfolio Investments
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Common Stocks (99.5%) | ||||||||
Communication Services (2.0%): |
||||||||
Cargurus, Inc.(a) |
6,008 | 135,961 | ||||||
Cars.com, Inc.(a) |
6,638 | 131,565 | ||||||
Cogent Communications Holdings, Inc. |
2,948 | 198,371 | ||||||
EchoStar Corp., Class A(a) |
9,161 | 158,852 | ||||||
Gogo, Inc.(a) |
9,064 | 154,179 | ||||||
John Wiley & Sons, Inc., Class A |
3,885 | 132,207 | ||||||
Madison Square Garden Sports Corp. |
1,170 | 220,018 | ||||||
US Cellular Corp.(a) |
4,980 | 87,797 | ||||||
Ziff Davis, Inc.(a) |
2,259 | 158,265 | ||||||
ZipRecruiter, Inc.(a) |
5,618 | 99,776 | ||||||
1,476,991 | ||||||||
Consumer Discretionary (14.2%): |
||||||||
Abercrombie & Fitch Co.(a) |
3,984 | 150,117 | ||||||
Academy Sports & Outdoors, Inc. |
1,849 | 99,938 | ||||||
Acushnet Holdings Corp. |
3,709 | 202,808 | ||||||
American Eagle Outfitters, Inc. |
8,253 | 97,385 | ||||||
Arhaus, Inc.(a) |
11,334 | 118,214 | ||||||
Asbury Automotive Group, Inc.(a) |
630 | 151,465 | ||||||
Bloomin’ Brands, Inc. |
6,391 | 171,854 | ||||||
Boot Barn Holdings, Inc.(a) |
1,424 | 120,599 | ||||||
Brinker International, Inc.(a) |
3,039 | 111,227 | ||||||
Camping World Holdings, Inc., Class A |
5,503 | 165,640 | ||||||
Carter’s, Inc. |
2,275 | 165,165 | ||||||
Cavco Industries, Inc.(a) |
476 | 140,420 | ||||||
Century Communities, Inc. |
2,040 | 156,305 | ||||||
Cracker Barrel Old Country Store, Inc. |
1,412 | 131,570 | ||||||
Crocs, Inc.(a) |
708 | 79,608 | ||||||
Dave & Buster’s Entertainment, Inc.(a) |
3,826 | 170,487 | ||||||
Dillard’s, Inc., Class A |
368 | 120,071 | ||||||
Dine Brands Global, Inc. |
2,299 | 133,411 | ||||||
Dorman Products, Inc. |
1,932 | 152,300 | ||||||
Foot Locker, Inc. |
2,883 | 78,158 | ||||||
Fox Factory Holding Corp.(a) |
1,102 | 119,578 | ||||||
Frontdoor, Inc.(a) |
5,175 | 165,082 | ||||||
Gentherm, Inc.(a) |
2,526 | 142,744 | ||||||
Graham Holdings Co., Class B |
382 | 218,305 | ||||||
Grand Canyon Education, Inc.(a) |
1,605 | 165,652 | ||||||
Green Brick Partners, Inc.(a) |
3,395 | 192,836 | ||||||
Group 1 Automotive, Inc. |
645 | 166,474 | ||||||
Helen of Troy Ltd.(a) |
1,368 | 147,771 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Consumer Discretionary (14.2%): (continued) | ||||||||
Installed Building Products, Inc. |
1,154 | 161,745 | ||||||
Jack in the Box, Inc. |
1,470 | 143,369 | ||||||
KB Home |
3,834 | 198,256 | ||||||
Kontoor Brands, Inc. |
2,500 | 105,250 | ||||||
La-Z-Boy, Inc. |
5,300 | 151,792 | ||||||
LCI Industries |
1,205 | 152,264 | ||||||
Leslie’s, Inc.(a) |
11,514 | 108,116 | ||||||
LGI Homes, Inc.(a) |
1,118 | 150,807 | ||||||
M/I Homes, Inc.(a) |
2,267 | 197,660 | ||||||
Malibu Boats, Inc., Class A(a) |
2,941 | 172,519 | ||||||
MDC Holdings, Inc. |
4,223 | 197,510 | ||||||
Meritage Homes Corp. |
1,264 | 179,829 | ||||||
Mister Car Wash, Inc.(a) |
13,401 | 129,320 | ||||||
Modine Manufacturing Co.(a) |
5,635 | 186,068 | ||||||
Monro, Inc. |
3,630 | 147,487 | ||||||
National Vision Holdings, Inc.(a) |
4,674 | 113,531 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.(a) |
2,049 | 118,699 | ||||||
Oxford Industries, Inc. |
1,318 | 129,718 | ||||||
Papa John’s International, Inc. |
1,964 | 145,002 | ||||||
Patrick Industries, Inc. |
2,114 | 169,120 | ||||||
Playa Hotels & Resorts N.V.(a) |
16,731 | 136,190 | ||||||
Revolve Group, Inc.(a) |
3,711 | 60,860 | ||||||
Sally Beauty Holdings, Inc.(a) |
9,431 | 116,473 | ||||||
SeaWorld Entertainment, Inc.(a) |
2,477 | 138,737 | ||||||
Signet Jewelers Ltd. |
1,321 | 86,208 | ||||||
Six Flags Entertainment Corp.(a) |
3,773 | 98,023 | ||||||
Skyline Champion Corp.(a) |
1,699 | 111,200 | ||||||
Sonic Automotive, Inc., Class A |
2,379 | 113,407 | ||||||
Sonos, Inc.(a) |
5,726 | 93,506 | ||||||
Steven Madden Ltd. |
4,195 | 137,135 | ||||||
Strategic Education, Inc. |
2,223 | 150,808 | ||||||
Stride, Inc.(a) |
2,715 | 101,079 | ||||||
Target Hospitality Corp.(a) |
8,170 | 109,641 | ||||||
Taylor Morrison Home Corp.(a) |
3,963 | 193,276 | ||||||
The Buckle, Inc. |
4,833 | 167,222 | ||||||
The Cheesecake Factory, Inc. |
3,986 | 137,836 | ||||||
The Goodyear Tire & Rubber Co.(a) |
11,177 | 152,901 | ||||||
The ODP Corp.(a) |
3,733 | 174,779 | ||||||
Topgolf Callaway Brands Corp.(a) |
7,344 | 145,778 | ||||||
Tri Pointe Homes, Inc.(a) |
6,132 | 201,498 | ||||||
Upbound Group, Inc. |
4,166 | 129,688 | ||||||
Vista Outdoor, Inc.(a) |
6,096 | 168,676 | ||||||
Visteon Corp.(a) |
1,040 | 149,354 | ||||||
Wingstop, Inc. |
544 | 108,887 | ||||||
Winnebago Industries, Inc. |
2,246 | 149,786 |
See notes to financial statements.
1
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Consumer Discretionary (14.2%): (continued) | ||||||||
XPEL, Inc.(a) |
1,676 | 141,153 | ||||||
Yeti Holdings, Inc.(a) |
2,292 | 89,021 | ||||||
10,656,368 | ||||||||
Consumer Staples (5.8%): |
||||||||
BellRing Brands, Inc.(a) |
4,484 | 164,114 | ||||||
Cal-Maine Foods, Inc. |
2,781 | 125,145 | ||||||
Central Garden & Pet Co., Class A(a) |
5,613 | 204,650 | ||||||
Coca-Cola Consolidated, Inc. |
317 | 201,618 | ||||||
Edgewell Personal Care Co. |
5,154 | 212,912 | ||||||
Fresh Del Monte Produce, Inc. |
6,813 | 175,162 | ||||||
Grocery Outlet Holding Corp.(a) |
6,259 | 191,588 | ||||||
Herbalife Ltd(a) |
6,068 | 80,340 | ||||||
Hostess Brands, Inc.(a) |
8,905 | 225,475 | ||||||
Ingles Markets, Inc., Class A |
2,487 | 205,551 | ||||||
Inter Parfums, Inc. |
1,157 | 156,461 | ||||||
J & J Snack Foods Corp. |
1,472 | 233,106 | ||||||
Lancaster Colony Corp. |
979 | 196,867 | ||||||
Medifast, Inc. |
1,266 | 116,675 | ||||||
Nu Skin Enterprises, Inc., Class A |
3,667 | 121,744 | ||||||
PriceSmart, Inc. |
2,819 | 208,775 | ||||||
Spectrum Brands Holdings, Inc. |
1,530 | 119,417 | ||||||
Sprouts Farmers Market, Inc.(a) |
4,437 | 162,971 | ||||||
The Andersons, Inc. |
3,365 | 155,295 | ||||||
The Chefs’ Warehouse, Inc.(a) |
4,578 | 163,709 | ||||||
The Hain Celestial Group, Inc.(a) |
7,337 | 91,786 | ||||||
The Simply Good Foods Co.(a) |
5,165 | 188,987 | ||||||
Tootsie Roll Industries, Inc. |
5,595 | 198,119 | ||||||
United Natural Foods, Inc.(a) |
4,407 | 86,157 | ||||||
WD-40 Co. |
992 | 187,141 | ||||||
Weis Markets, Inc. |
2,244 | 144,087 | ||||||
4,317,852 | ||||||||
Energy (4.8%): |
||||||||
Arch Resources, Inc. |
883 | 99,567 | ||||||
Archrock, Inc. |
14,934 | 153,073 | ||||||
Cactus, Inc., Class A |
2,651 | 112,190 | ||||||
California Resources Corp. |
3,341 | 151,314 | ||||||
Callon Petroleum Co.(a) |
2,568 | 90,060 | ||||||
ChampionX Corp. |
4,287 | 133,068 | ||||||
Comstock Resources, Inc. |
8,092 | 93,867 | ||||||
CONSOL Energy, Inc. |
1,719 | 116,565 | ||||||
Crescent Energy Co., Class A |
8,890 | 92,634 | ||||||
CVR Energy, Inc. |
3,755 | 112,500 | ||||||
Delek US Holdings, Inc. |
4,930 | 118,073 | ||||||
Denbury, Inc.(a) |
1,456 | 125,595 | ||||||
Earthstone Energy, Inc., Class A(a) |
6,689 | 95,586 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Energy (4.8%): (continued) | ||||||||
Excelerate Energy, Inc., Class A |
5,124 | 104,171 | ||||||
Gulfport Energy Corp.(a) |
1,385 | 145,522 | ||||||
International Seaways, Inc. |
3,141 | 120,112 | ||||||
Kinetik Holdings, Inc. |
4,628 | 162,628 | ||||||
Kosmos Energy Ltd.(a) |
11,918 | 71,389 | ||||||
Liberty Energy, Inc. |
8,157 | 109,059 | ||||||
NexTier Oilfield Solutions, Inc.(a) |
10,819 | 96,722 | ||||||
Northern Oil and Gas, Inc. |
3,049 | 104,642 | ||||||
Oceaneering International, Inc.(a) |
5,119 | 95,725 | ||||||
Par Pacific Holdings, Inc.(a) |
4,884 | 129,963 | ||||||
Patterson-UTI Energy, Inc. |
7,670 | 91,810 | ||||||
PBF Energy, Inc., Class A |
2,568 | 105,134 | ||||||
Peabody Energy Corp. |
3,663 | 79,341 | ||||||
Permian Resources Corp. |
8,494 | 93,094 | ||||||
RPC, Inc. |
12,142 | 86,815 | ||||||
Sitio Royalties Corp., Class A |
5,097 | 133,898 | ||||||
Talos Energy, Inc.(a) |
5,824 | 80,779 | ||||||
Valaris Ltd.(a) |
1,745 | 109,813 | ||||||
Weatherford International PLC(a) |
1,773 | 117,763 | ||||||
World Kinect Corp, Class A |
4,913 | 101,601 | ||||||
3,634,073 | ||||||||
Financials (22.9%): |
||||||||
American Equity Investment Life Holding Co. |
3,200 | 166,752 | ||||||
Ameris BanCorp |
5,028 | 172,008 | ||||||
Artisan Partners Asset Management, Inc., Class A |
4,919 | 193,366 | ||||||
Associated Banc-Corp. |
9,794 | 158,957 | ||||||
Assured Guaranty Ltd. |
3,144 | 175,435 | ||||||
Atlantic Union Bankshares Corp. |
5,719 | 148,408 | ||||||
Axis Capital Holdings Ltd. |
3,724 | 200,463 | ||||||
Axos Financial, Inc.(a) |
3,380 | 133,307 | ||||||
Bancfirst Corp. |
2,052 | 188,784 | ||||||
Bank of Hawaii Corp. |
3,057 | 126,040 | ||||||
BankUnited, Inc. |
6,712 | 144,644 | ||||||
Banner Corp. |
3,750 | 163,762 | ||||||
BGC Partners, Inc., Class A |
29,137 | 129,077 | ||||||
Bread Financial Holdings, Inc. |
3,687 | 115,735 | ||||||
Cathay General BanCorp |
6,051 | 194,782 | ||||||
City Holding Co. |
3,014 | 271,230 | ||||||
CNO Financial Group, Inc. |
8,262 | 195,562 | ||||||
Cohen & Steers, Inc. |
3,142 | 182,205 | ||||||
Columbia Banking System, Inc. |
7,399 | 150,052 | ||||||
Community Bank System, Inc. |
4,252 | 199,334 | ||||||
CVB Financial Corp. |
11,490 | 152,587 |
See notes to financial statements.
2
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Financials (22.9%): (continued) | ||||||||
Donnelley Financial Solutions, Inc.(a) |
2,671 | 121,611 | ||||||
Eastern Bankshares, Inc. |
13,571 | 166,516 | ||||||
Enova International, Inc.(a) |
2,979 | 158,244 | ||||||
Enterprise Financial Services Corp. |
4,684 | 183,144 | ||||||
EVERTEC, Inc. |
5,991 | 220,649 | ||||||
FB Financial Corp. |
5,814 | 163,083 | ||||||
Federal Agricultural Mortgage Corp., Class C |
1,476 | 212,160 | ||||||
Federated Hermes, Inc. |
5,447 | 195,275 | ||||||
First BanCorp |
15,459 | 188,909 | ||||||
First BanCorp |
5,911 | 175,852 | ||||||
First Commonwealth Financial Corp. |
16,482 | 208,497 | ||||||
First Financial BanCorp |
9,781 | 199,924 | ||||||
First Hawaiian, Inc. |
8,772 | 157,984 | ||||||
First Merchants Corp. |
6,221 | 175,619 | ||||||
FirstCash Holdings, Inc. |
1,926 | 179,754 | ||||||
FNB Corp. |
18,268 | 208,986 | ||||||
Fulton Financial Corp. |
14,660 | 174,747 | ||||||
Genworth Financial, Inc.(a) |
28,379 | 141,895 | ||||||
Goosehead Insurance, Inc., Class A(a) |
1,499 | 94,272 | ||||||
Hamilton Lane, Inc., Class A |
2,166 | 173,237 | ||||||
Hancock Whitney Corp. |
4,707 | 180,655 | ||||||
Heartland Financial USA, Inc. |
5,260 | 146,596 | ||||||
Hilltop Holdings, Inc. |
5,956 | 187,376 | ||||||
Hope BanCorp, Inc. |
19,177 | 161,470 | ||||||
Houlihan Lokey, Inc. |
2,174 | 213,726 | ||||||
Independent Bank Corp. |
3,575 | 159,123 | ||||||
Independent Bank Group, Inc. |
4,277 | 147,685 | ||||||
International Bancshares Corp. |
5,127 | 226,613 | ||||||
Jackson Financial, Inc., Class A |
3,176 | 97,217 | ||||||
Lakeland Financial Corp. |
3,569 | 173,168 | ||||||
Lazard Ltd., Class A |
4,673 | 149,536 | ||||||
Live Oak Bancshares, Inc. |
4,351 | 114,475 | ||||||
MGIC Investment Corp. |
15,734 | 248,440 | ||||||
Moelis & Co., Class A |
3,365 | 152,569 | ||||||
Mr Cooper Group, Inc.(a) |
3,509 | 177,696 | ||||||
National Bank Holdings Corp., Class A |
5,368 | 155,887 | ||||||
Navient Corp. |
9,386 | 174,392 | ||||||
NBT BanCorp, Inc. |
5,854 | 186,450 | ||||||
Nelnet, Inc., Class A |
3,343 | 322,533 | ||||||
NMI Holdings, Inc., Class A(a) |
7,812 | 201,706 | ||||||
Northwest Bancshares, Inc. |
20,109 | 213,155 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Financials (22.9%): (continued) | ||||||||
OFG BanCorp |
9,234 | 240,823 | ||||||
Pacific Premier BanCorp, Inc. |
7,605 | 157,271 | ||||||
PacWest BanCorp |
6,340 | 51,671 | ||||||
Palomar Holdings, Inc.(a) |
2,007 | 116,486 | ||||||
Park National Corp. |
1,862 | 190,520 | ||||||
PennyMac Financial Services, Inc. |
2,141 | 150,534 | ||||||
Piper Sandler Cos. |
1,160 | 149,942 | ||||||
PJT Partners, Inc., Class A |
2,802 | 195,131 | ||||||
PRA Group, Inc.(a) |
6,592 | 150,627 | ||||||
Provident Financial Services, Inc. |
10,960 | 179,086 | ||||||
Radian Group, Inc. |
8,769 | 221,680 | ||||||
Renasant Corp. |
7,165 | 187,221 | ||||||
Repay Holdings Corp.(a) |
10,060 | 78,770 | ||||||
Rocket Cos., Inc., Class A(a) |
11,356 | 101,750 | ||||||
S&T BanCorp, Inc. |
7,553 | 205,366 | ||||||
Sandy Spring BanCorp, Inc. |
7,748 | 175,725 | ||||||
Seacoast Banking Corp. of Florida |
6,063 | 133,992 | ||||||
Shift4 Payments, Inc., Class A(a) |
1,439 | 97,722 | ||||||
Simmons First National Corp., Class A |
10,597 | 182,798 | ||||||
SLM Corp. |
9,673 | 157,863 | ||||||
Stellar BanCorp, Inc. |
7,747 | 177,329 | ||||||
Stock Yards BanCorp, Inc. |
3,987 | 180,890 | ||||||
StoneX Group, Inc.(a) |
1,666 | 138,411 | ||||||
Texas Capital Bancshares, Inc.(a) |
2,921 | 150,431 | ||||||
The BanCorp, Inc.(a) |
4,278 | 139,677 | ||||||
Towne Bank |
9,215 | 214,157 | ||||||
TriCo Bancshares |
5,433 | 180,376 | ||||||
Trustmark Corp. |
8,542 | 180,407 | ||||||
UMB Financial Corp. |
2,657 | 161,811 | ||||||
United Community Banks, Inc. |
6,703 | 167,508 | ||||||
UWM Holdings Corp. |
21,382 | 119,739 | ||||||
Veritex Holdings, Inc. |
6,652 | 119,270 | ||||||
Virtu Financial, Inc., Class A |
9,498 | 162,321 | ||||||
Virtus Investment Partners, Inc. |
733 | 144,745 | ||||||
Walker & Dunlop, Inc. |
2,125 | 168,066 | ||||||
Washington Federal, Inc. |
6,567 | 174,157 | ||||||
WesBanco, Inc. |
8,225 | 210,642 | ||||||
Westamerica BanCorp |
5,724 | 219,229 | ||||||
WSFS Financial Corp. |
4,736 | 178,642 | ||||||
17,166,102 | ||||||||
Health Care (6.5%): |
||||||||
AdaptHealth Corp.(a) |
8,710 | 106,001 | ||||||
Addus Homecare Corp.(a) |
1,805 | 167,324 | ||||||
Agiliti, Inc.(a) |
6,848 | 112,992 | ||||||
Amedisys, Inc.(a) |
1,693 | 154,808 |
See notes to financial statements.
3
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Health Care (6.5%): (continued) | ||||||||
Apollo Medical Holdings, Inc.(a) |
2,665 | 84,214 | ||||||
Avanos Medical, Inc.(a) |
6,277 | 160,440 | ||||||
Catalyst Pharmaceuticals, Inc.(a) |
4,842 | 65,076 | ||||||
Certara, Inc.(a) |
4,041 | 73,587 | ||||||
Corcept Therapeutics, Inc.(a) |
6,964 | 154,949 | ||||||
CorVel Corp.(a) |
1,023 | 197,951 | ||||||
Cytek Biosciences, Inc.(a) |
10,617 | 90,669 | ||||||
Dynavax Technologies Corp.(a) |
10,712 | 138,399 | ||||||
Embecta Corp. |
3,844 | 83,030 | ||||||
Ensign Group, Inc. |
2,168 | 206,957 | ||||||
Figs, Inc., Class A(a) |
11,787 | 97,479 | ||||||
Haemonetics Corp.(a) |
2,189 | 186,371 | ||||||
Harmony Biosciences Holdings, Inc.(a) |
3,309 | 116,444 | ||||||
Integer Holdings Corp.(a) |
1,788 | 158,435 | ||||||
Ironwood Pharmaceuticals, Inc.(a) |
17,244 | 183,476 | ||||||
Maravai LifeSciences Holdings, Inc., Class A(a) |
7,389 | 91,845 | ||||||
Merit Medical Systems, Inc.(a) |
2,630 | 219,973 | ||||||
Neogen Corp.(a) |
7,828 | 170,259 | ||||||
Pacira BioSciences, Inc.(a) |
3,893 | 155,993 | ||||||
Patterson Cos., Inc. |
7,775 | 258,597 | ||||||
Pediatrix Medical Group, Inc.(a) |
8,854 | 125,815 | ||||||
Prestige Consumer Healthcare, Inc.(a) |
3,803 | 226,012 | ||||||
Progyny, Inc.(a) |
2,457 | 96,658 | ||||||
RadNet, Inc.(a) |
4,468 | 145,746 | ||||||
Select Medical Holdings Corp. |
4,929 | 157,038 | ||||||
STAAR Surgical Co.(a) |
1,449 | 76,174 | ||||||
Supernus Pharmaceuticals, Inc.(a) |
5,134 | 154,328 | ||||||
U.S. Physical Therapy, Inc. |
1,279 | 155,258 | ||||||
Veradigm, Inc.(a) |
11,875 | 149,625 | ||||||
Vir Biotechnology, Inc.(a) |
4,695 | 115,168 | ||||||
4,837,091 | ||||||||
Industrials (24.3%): |
||||||||
AAON, Inc. |
1,596 | 151,317 | ||||||
AAR Corp.(a) |
3,368 | 194,536 | ||||||
ABM Industries, Inc. |
4,889 | 208,516 | ||||||
Air Transport Services Group(a) |
7,158 | 135,071 | ||||||
Alamo Group, Inc. |
1,103 | 202,853 | ||||||
Albany International Corp. |
2,287 | 213,331 | ||||||
Allegiant Travel Co.(a) |
1,122 | 141,686 | ||||||
Allison Transmission Holding, Inc. |
4,295 | 242,496 | ||||||
Ameresco, Inc., Class A(a) |
1,995 | 97,017 | ||||||
API Group Corp.(a) |
7,551 | 205,840 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Industrials (24.3%): (continued) | ||||||||
Applied Industrial Technologies, Inc. |
1,240 | 179,589 | ||||||
ArcBest Corp. |
1,336 | 131,997 | ||||||
Arcosa, Inc. |
2,521 | 191,016 | ||||||
Armstrong World Industries, Inc. |
3,040 | 223,318 | ||||||
Atkore, Inc.(a) |
948 | 147,831 | ||||||
Barnes Group, Inc. |
4,739 | 199,938 | ||||||
Beacon Roofing Supply, Inc.(a) |
3,013 | 250,019 | ||||||
Boise Cascade Co. |
2,408 | 217,563 | ||||||
Brady Corp., Class A |
4,785 | 227,622 | ||||||
Casella Waste Systems, Inc.(a) |
2,466 | 223,050 | ||||||
CBIZ, Inc.(a) |
4,600 | 245,088 | ||||||
Comfort Systems USA, Inc. |
1,244 | 204,265 | ||||||
Construction Partners, Inc., Class A(a) |
4,717 | 148,067 | ||||||
Core & Main, Inc., Class A(a) |
7,147 | 223,987 | ||||||
CSG Systems International, Inc. |
3,597 | 189,706 | ||||||
CSW Industrials, Inc. |
1,281 | 212,889 | ||||||
Dycom Industries, Inc.(a) |
1,404 | 159,565 | ||||||
Encore Wire Corp. |
742 | 137,960 | ||||||
Energy Recovery, Inc.(a) |
4,862 | 135,893 | ||||||
Enerpac Tool Group Corp. |
7,484 | 202,068 | ||||||
EnerSys |
1,939 | 210,420 | ||||||
EnPro Industries, Inc. |
1,714 | 228,870 | ||||||
Esab Corp. |
2,681 | 178,394 | ||||||
ESCO Technologies, Inc. |
1,970 | 204,151 | ||||||
Federal Signal Corp. |
3,776 | 241,777 | ||||||
First Advantage Corp.(a) |
9,046 | 139,399 | ||||||
Flowserve Corp. |
5,000 | 185,750 | ||||||
Fluor Corp.(a) |
4,834 | 143,086 | ||||||
Forward Air Corp. |
1,579 | 167,548 | ||||||
Franklin Electric Co. |
2,228 | 229,261 | ||||||
GATX Corp. |
1,875 | 241,388 | ||||||
Gibraltar Industries, Inc.(a) |
3,298 | 207,510 | ||||||
GMS, Inc.(a) |
2,616 | 181,027 | ||||||
GrafTech International Ltd. |
17,971 | 90,574 | ||||||
Granite Construction, Inc. |
4,693 | 186,688 | ||||||
H&E Equipment Services, Inc. |
3,251 | 148,733 | ||||||
Hayward Holdings, Inc.(a) |
10,335 | 132,805 | ||||||
Heartland Express, Inc. |
12,314 | 202,073 | ||||||
Helios Technologies, Inc. |
2,403 | 158,814 | ||||||
Herc Holdings, Inc. |
1,099 | 150,398 | ||||||
Hillenbrand, Inc. |
3,439 | 176,352 | ||||||
HNI Corp. |
6,727 | 189,567 | ||||||
Huron Consulting Group, Inc.(a) |
2,125 | 180,434 | ||||||
ICF International, Inc. |
1,795 | 223,280 |
See notes to financial statements.
4
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Industrials (24.3%): (continued) | ||||||||
Insperity, Inc. |
1,578 | 187,719 | ||||||
Janus International Group, Inc.(a) |
15,260 | 162,672 | ||||||
John Bean Technologies Corp. |
1,401 | 169,941 | ||||||
Kadant, Inc. |
896 | 199,002 | ||||||
Kennametal, Inc. |
5,702 | 161,880 | ||||||
Kforce, Inc. |
2,721 | 170,498 | ||||||
Kirby Corp.(a) |
2,394 | 184,218 | ||||||
Korn Ferry |
3,571 | 176,907 | ||||||
Lindsay Corp. |
1,440 | 171,850 | ||||||
ManpowerGroup, Inc. |
2,522 | 200,247 | ||||||
Marten Transport Ltd. |
7,554 | 162,411 | ||||||
Matson, Inc. |
2,200 | 171,006 | ||||||
Maximus, Inc. |
2,203 | 186,176 | ||||||
McGrath RentCorp. |
2,395 | 221,490 | ||||||
MillerKnoll, Inc. |
6,263 | 92,567 | ||||||
Moog, Inc., Class A |
2,122 | 230,088 | ||||||
MSC Industrial Direct Co., Inc. |
2,860 | 272,501 | ||||||
Mueller Industries, Inc. |
2,324 | 202,839 | ||||||
Mueller Water Products, Inc., Class A |
14,503 | 235,384 | ||||||
MYR Group, Inc.(a) |
1,271 | 175,830 | ||||||
NOW, Inc.(a) |
12,387 | 128,329 | ||||||
NV5 Global, Inc.(a) |
1,577 | 174,684 | ||||||
PGT Innovations, Inc.(a) |
5,311 | 154,816 | ||||||
Primoris Services Corp. |
6,702 | 204,210 | ||||||
Resideo Technologies, Inc.(a) |
6,105 | 107,814 | ||||||
Rush Enterprises, Inc., Class A |
3,701 | 224,799 | ||||||
Ryder System, Inc. |
1,876 | 159,066 | ||||||
Schneider National, Inc., Class B |
7,065 | 202,907 | ||||||
Shoals Technologies Group, Inc., Class A(a) |
3,293 | 84,169 | ||||||
SPX Technologies, Inc.(a) |
2,572 | 218,543 | ||||||
Standex International Corp. |
1,726 | 244,177 | ||||||
SunPower Corp.(a) |
6,219 | 60,946 | ||||||
TaskUS, Inc., Class A(a) |
4,705 | 53,261 | ||||||
Tennant Co. |
3,084 | 250,143 | ||||||
Terex Corp. |
3,098 | 185,353 | ||||||
The AZEK Co., Inc.(a) |
4,483 | 135,790 | ||||||
The Brink’s Co. |
2,601 | 176,426 | ||||||
Trinity Industries, Inc. |
6,264 | 161,047 | ||||||
Triton International Ltd. |
2,648 | 220,472 | ||||||
TTEC Holdings, Inc. |
3,461 | 117,120 | ||||||
UniFirst Corp. |
1,288 | 199,653 | ||||||
Veritiv Corp. |
978 | 122,847 | ||||||
Verra Mobility Corp.(a) |
10,088 | 198,935 | ||||||
Vicor Corp.(a) |
1,983 | 107,082 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Industrials (24.3%): (continued) | ||||||||
Wabash National Corp. |
5,955 | 152,686 | ||||||
Watts Water Technologies, Inc., Class A |
1,179 | 216,618 | ||||||
Werner Enterprises, Inc. |
4,251 | 187,809 | ||||||
18,227,321 | ||||||||
Information Technology (8.8%): |
||||||||
ACI Worldwide, Inc.(a) |
5,043 | 116,846 | ||||||
Advanced Energy Industries, Inc. |
1,702 | 189,688 | ||||||
Agilysys, Inc.(a) |
1,607 | 110,304 | ||||||
Alarm.com Holdings, Inc.(a) |
2,954 | 152,663 | ||||||
Avid Technology, Inc.(a) |
3,844 | 98,022 | ||||||
Axcelis Technologies, Inc.(a) |
824 | 151,064 | ||||||
Badger Meter, Inc. |
1,544 | 227,833 | ||||||
Belden, Inc. |
2,322 | 222,099 | ||||||
Calix, Inc.(a) |
2,140 | 106,807 | ||||||
Cohu, Inc.(a) |
3,649 | 151,652 | ||||||
CommVault Systems, Inc.(a) |
2,962 | 215,100 | ||||||
CTS Corp. |
3,377 | 143,962 | ||||||
Diodes, Inc.(a) |
1,643 | 151,961 | ||||||
DoubleVerify Holdings, Inc.(a) |
4,244 | 165,176 | ||||||
ePlus, Inc.(a) |
3,012 | 169,576 | ||||||
Extreme Networks, Inc.(a) |
6,607 | 172,112 | ||||||
FormFactor, Inc.(a) |
3,490 | 119,428 | ||||||
Harmonic, Inc.(a) |
8,114 | 131,203 | ||||||
Insight Enterprises, Inc.(a) |
1,685 | 246,583 | ||||||
InterDigital, Inc. |
1,921 | 185,473 | ||||||
MACOM Technology Solutions Holdings, Inc.(a) |
2,332 | 152,816 | ||||||
MaxLinear, Inc.(a) |
3,550 | 112,038 | ||||||
Methode Electronics, Inc. |
4,387 | 147,052 | ||||||
NCR Corp.(a) |
5,499 | 138,575 | ||||||
NetScout Systems, Inc.(a) |
6,043 | 187,031 | ||||||
Onto Innovation, Inc.(a) |
1,499 | 174,589 | ||||||
OSI Systems, Inc.(a) |
1,962 | 231,182 | ||||||
Perficient, Inc.(a) |
1,985 | 165,410 | ||||||
Plexus Corp.(a) |
1,885 | 185,182 | ||||||
Progress Software Corp. |
4,165 | 241,987 | ||||||
Semtech Corp.(a) |
4,611 | 117,396 | ||||||
SiTime Corp.(a) |
614 | 72,434 | ||||||
SPS Commerce, Inc.(a) |
1,064 | 204,352 | ||||||
Super Micro Computer, Inc.(a) |
855 | 213,109 | ||||||
Teradata Corp.(a) |
3,953 | 211,130 | ||||||
TTM Technologies, Inc.(a) |
8,815 | 122,529 | ||||||
Ultra Clean Holdings, Inc.(a) |
3,716 | 142,917 | ||||||
Viavi Solutions, Inc.(a) |
14,131 | 160,104 | ||||||
Vishay Intertechnology, Inc. |
8,192 | 240,845 |
See notes to financial statements.
5
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Small Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Information Technology (8.8%): (continued) | ||||||||
Vontier, Corp. |
5,676 | 182,824 | ||||||
6,631,054 | ||||||||
Materials (4.9%): |
||||||||
Alpha Metallurgical Resources, Inc. |
653 | 107,327 | ||||||
ATI, Inc.(a) |
3,597 | 159,095 | ||||||
Avient Corp. |
2,951 | 120,696 | ||||||
Balchem Corp. |
1,521 | 205,046 | ||||||
Cabot Corp. |
2,025 | 135,452 | ||||||
Ecovyst, Inc.(a) |
12,322 | 141,210 | ||||||
Greif, Inc., Class A |
3,052 | 210,252 | ||||||
H.B. Fuller Co. |
2,885 | 206,306 | ||||||
Ingevity Corp.(a) |
2,188 | 127,254 | ||||||
Innospec, Inc. |
1,975 | 198,369 | ||||||
Materion Corp. |
1,005 | 114,771 | ||||||
Minerals Technologies, Inc. |
2,768 | 159,686 | ||||||
NewMarket Corp. |
702 | 282,288 | ||||||
O-I Glass, Inc.(a) |
6,081 | 129,708 | ||||||
Orion SA |
5,879 | 124,752 | ||||||
Perimeter Solutions SA(a) |
15,654 | 96,272 | ||||||
Ryerson Holding Corp. |
2,665 | 115,608 | ||||||
Sensient Technologies Corp. |
2,704 | 192,336 | ||||||
Stepan Co. |
2,105 | 201,154 | ||||||
Summit Materials, Inc., Class A(a) |
5,848 | 221,347 | ||||||
Sylvamo Corp. |
3,153 | 127,539 | ||||||
Warrior Met Coal, Inc. |
3,433 | 133,715 | ||||||
Worthington Industries, Inc. |
2,050 | 142,414 | ||||||
3,652,597 | ||||||||
Real Estate (1.3%): |
||||||||
eXp World Holdings, Inc. |
7,044 | 142,852 | ||||||
Kennedy-Wilson Holdings, Inc. |
10,342 | 168,885 | ||||||
Marcus & Millichap, Inc. |
5,756 | 181,371 | ||||||
Newmark Group, Inc., Class A |
18,862 | 117,322 | ||||||
The Howard Hughes Corp.(a) |
2,129 | 168,021 | ||||||
The St. Joe Co. |
4,332 | 209,409 | ||||||
987,860 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Utilities (4.0%): |
||||||||
ALLETE, Inc. |
3,586 | 207,881 | ||||||
American States Water Co. |
2,250 | 195,750 | ||||||
Avista Corp. |
5,083 | 199,609 | ||||||
California Water Service Group |
3,532 | 182,357 | ||||||
Chesapeake Utilities Corp. |
1,652 | 196,588 | ||||||
Clearway Energy, Inc., Class C |
6,723 | 192,009 | ||||||
MGE Energy, Inc. |
3,081 | 243,738 | ||||||
Middlesex Water Co. |
2,414 | 194,713 | ||||||
Montauk Renewables, Inc.(a) |
13,595 | 101,147 | ||||||
New Jersey Resources Corp. |
4,270 | 201,544 | ||||||
Northwest Natural Holding Co. |
4,910 | 211,376 | ||||||
NorthWestern Corp. |
4,520 | 256,555 | ||||||
Otter Tail Corp. |
2,203 | 173,949 | ||||||
SJW Group |
2,767 | 193,994 | ||||||
Spire, Inc. |
3,328 | 211,128 | ||||||
2,962,338 | ||||||||
Total Common Stocks (Cost $70,111,040) |
74,549,647 | |||||||
Total Investments (Cost $70,111,040) — 99.5% |
74,549,647 | |||||||
Other assets in excess of liabilities — 0.5% |
329,986 | |||||||
NET ASSETS — 100.00% |
74,879,633 |
Percentages indicated are based on net assets as of June 30, 2023.
(a) |
Non-income producing security. |
Futures Contracts
Long Futures
Index Futures |
Expiration Date |
Number
of |
Notional
|
Value |
Value
and |
|||||||||||||||
E-Mini Russell 2000 Index |
9/15/23 | 3 | $ | 283,453 | $ | 285,555 | $ | 2,102 | ||||||||||||
$ | 2,102 |
See notes to financial statements.
6
Schedule of Portfolio Investments
June 30, 2023 (Unaudited)
Timothy Plan US Large/Mid Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Common Stocks (99.5%) | ||||||||
Communication Services (0.7%): |
||||||||
Live Nation Entertainment, Inc.(a) |
8,302 | 756,395 | ||||||
The Trade Desk, Inc., Class A(a) |
4,142 | 319,845 | ||||||
ZoomInfo Technologies, Inc.(a) |
14,358 | 364,550 | ||||||
1,440,790 | ||||||||
Consumer Discretionary (9.8%): |
||||||||
Aptiv PLC(a) |
4,443 | 453,586 | ||||||
Aramark |
19,623 | 844,770 | ||||||
AutoZone, Inc.(a) |
352 | 877,663 | ||||||
Bath & Body Works, Inc. |
10,280 | 385,500 | ||||||
BorgWarner, Inc. |
14,144 | 691,783 | ||||||
Burlington Stores, Inc.(a) |
2,147 | 337,916 | ||||||
CarMax, Inc.(a) |
5,724 | 479,099 | ||||||
Chipotle Mexican Grill, Inc.(a) |
365 | 780,735 | ||||||
Darden Restaurants, Inc. |
5,599 | 935,481 | ||||||
Deckers Outdoor Corp.(a) |
1,257 | 663,269 | ||||||
Domino’s Pizza, Inc. |
1,836 | 618,714 | ||||||
DR Horton, Inc. |
5,944 | 723,325 | ||||||
Five Below, Inc.(a) |
2,320 | 455,973 | ||||||
Floor & Decor Holdings, Inc., Class A(a) |
3,915 | 407,003 | ||||||
Garmin Ltd. |
7,222 | 753,182 | ||||||
Genuine Parts Co. |
5,630 | 952,765 | ||||||
Lennar Corp., Class A |
5,724 | 717,275 | ||||||
LKQ Corp. |
14,197 | 827,259 | ||||||
Lowe’s Cos., Inc. |
3,265 | 736,911 | ||||||
NVR, Inc.(a) |
119 | 755,724 | ||||||
O’Reilly Automotive, Inc.(a) |
1,114 | 1,064,204 | ||||||
Penske Automotive Group, Inc. |
4,080 | 679,850 | ||||||
Pool Corp. |
1,519 | 569,078 | ||||||
PulteGroup, Inc. |
9,325 | 724,366 | ||||||
Ross Stores, Inc. |
6,295 | 705,858 | ||||||
Service Corp. International |
10,688 | 690,338 | ||||||
Tapestry, Inc. |
13,506 | 578,057 | ||||||
Tesla, Inc.(a) |
1,787 | 467,783 | ||||||
Tractor Supply Co. |
3,104 | 686,294 | ||||||
Vail Resorts, Inc. |
2,953 | 743,447 | ||||||
20,307,208 | ||||||||
Consumer Staples (5.5%): |
||||||||
BJ’s Wholesale Club Holdings, Inc.(a) |
10,594 | 667,528 | ||||||
Bunge Ltd. |
6,185 | 583,555 | ||||||
Campbell Soup Co. |
18,750 | 857,062 | ||||||
Costco Wholesale Corp. |
1,662 | 894,787 | ||||||
Coty, Inc., Class A(a) |
39,048 | 479,900 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Consumer Staples (5.5%): (continued) | ||||||||
Darling Ingredients, Inc.(a) |
8,701 | 555,037 | ||||||
Dollar General Corp. |
4,291 | 728,526 | ||||||
Dollar Tree, Inc.(a) |
4,498 | 645,463 | ||||||
Hormel Foods Corp. |
28,358 | 1,140,559 | ||||||
Lamb Weston Holdings, Inc. |
8,293 | 953,280 | ||||||
McCormick & Co., Inc. |
9,490 | 827,813 | ||||||
Monster Beverage Corp.(a) |
17,217 | 988,944 | ||||||
Sysco Corp. |
12,415 | 921,193 | ||||||
The JM Smucker Co. |
8,101 | 1,196,275 | ||||||
11,439,922 | ||||||||
Energy (6.1%): |
||||||||
APA Corp. |
9,770 | 333,841 | ||||||
Cheniere Energy, Inc. |
3,704 | 564,342 | ||||||
Chesapeake Energy Corp. |
6,265 | 524,255 | ||||||
ConocoPhillips |
5,110 | 529,447 | ||||||
Coterra Energy, Inc. |
20,018 | 506,455 | ||||||
Devon Energy Corp. |
7,677 | 371,106 | ||||||
Diamondback Energy, Inc. |
3,554 | 466,854 | ||||||
EOG Resources, Inc. |
4,300 | 492,092 | ||||||
EQT Corp. |
12,308 | 506,228 | ||||||
Halliburton Co. |
13,200 | 435,468 | ||||||
Hess Corp. |
3,323 | 451,762 | ||||||
HF Sinclair Corp. |
11,120 | 496,063 | ||||||
Kinder Morgan, Inc. |
48,454 | 834,378 | ||||||
Marathon Oil Corp. |
17,580 | 404,692 | ||||||
Marathon Petroleum Corp. |
4,605 | 536,943 | ||||||
Occidental Petroleum Corp. |
7,768 | 456,758 | ||||||
ONEOK, Inc. |
9,945 | 613,805 | ||||||
Ovintiv, Inc. |
9,961 | 379,215 | ||||||
Phillips 66 |
5,530 | 527,451 | ||||||
Pioneer Natural Resources Co. |
2,387 | 494,539 | ||||||
Schlumberger N.V. |
9,106 | 447,287 | ||||||
Targa Resources Corp. |
7,157 | 544,648 | ||||||
Texas Pacific Land Corp. |
270 | 355,455 | ||||||
The Williams Cos., Inc. |
25,783 | 841,299 | ||||||
Valero Energy Corp. |
3,864 | 453,247 | ||||||
12,567,630 | ||||||||
Financials (9.9%): |
||||||||
Aflac, Inc. |
13,855 | 967,079 | ||||||
American Financial Group, Inc. |
6,615 | 785,531 | ||||||
Arch Capital Group Ltd.(a) |
10,026 | 750,446 | ||||||
Ares Management Corp., Class A |
6,771 | 652,386 | ||||||
Arthur J Gallagher & Co. |
4,431 | 972,915 | ||||||
Brown & Brown, Inc. |
11,892 | 818,645 | ||||||
Cboe Global Markets, Inc. |
6,701 | 924,805 |
See notes to financial statements.
7
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Large/Mid Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Financials (9.9%): (continued) | ||||||||
East West BanCorp, Inc. |
8,376 | 442,169 | ||||||
Equitable Holdings, Inc. |
22,371 | 607,596 | ||||||
Erie Indemnity Co., Class A |
3,301 | 693,243 | ||||||
Everest Re Group Ltd. |
1,845 | 630,732 | ||||||
FactSet Research Systems, Inc. |
1,870 | 749,216 | ||||||
First Citizens BancShares, Inc., Class A |
302 | 387,602 | ||||||
FleetCor Technologies, Inc.(a) |
2,838 | 712,565 | ||||||
Franklin Resources, Inc. |
21,905 | 585,083 | ||||||
Globe Life, Inc. |
8,475 | 929,030 | ||||||
Interactive Brokers Group, Inc. |
7,613 | 632,412 | ||||||
Intercontinental Exchange, Inc. |
7,768 | 878,405 | ||||||
LPL Financial Holdings, Inc. |
2,700 | 587,061 | ||||||
MarketAxess Holdings, Inc. |
1,676 | 438,140 | ||||||
Morningstar, Inc. |
2,868 | 562,329 | ||||||
MSCI, Inc. |
1,084 | 508,710 | ||||||
Nasdaq, Inc. |
13,967 | 696,255 | ||||||
Principal Financial Group, Inc. |
8,692 | 659,201 | ||||||
Raymond James Financial, Inc. |
7,008 | 727,220 | ||||||
Reinsurance Group of America, Inc. |
5,108 | 708,429 | ||||||
Rocket Cos., Inc., Class A(a) |
40,830 | 365,837 | ||||||
Ryan Specialty Holdings, Inc.(a) |
12,136 | 544,785 | ||||||
Tradeweb Markets, Inc., Class A |
10,346 | 708,494 | ||||||
W R Berkley Corp. |
13,758 | 819,426 | ||||||
20,445,747 | ||||||||
Health Care (11.4%): |
||||||||
Agilent Technologies, Inc. |
4,687 | 563,612 | ||||||
Align Technology, Inc.(a) |
975 | 344,799 | ||||||
Amgen, Inc. |
3,845 | 853,667 | ||||||
Avantor, Inc.(a) |
25,977 | 533,568 | ||||||
BioMarin Pharmaceutical, Inc.(a) |
6,835 | 592,458 | ||||||
Bruker Corp. |
7,031 | 519,731 | ||||||
Catalent, Inc.(a) |
7,274 | 315,401 | ||||||
Centene Corp.(a) |
10,453 | 705,055 | ||||||
Charles River Laboratories International, Inc.(a) |
2,360 | 496,190 | ||||||
Danaher Corp. |
2,613 | 627,120 | ||||||
Dexcom, Inc.(a) |
3,731 | 479,471 | ||||||
Edwards Lifesciences Corp.(a) |
6,599 | 622,484 | ||||||
GE Healthcare Technologies, Inc. |
6,887 | 559,500 | ||||||
HCA Healthcare, Inc. |
2,389 | 725,014 | ||||||
Henry Schein, Inc.(a) |
10,454 | 847,819 | ||||||
Humana, Inc. |
1,612 | 720,774 | ||||||
IDEXX Laboratories, Inc.(a) |
1,114 | 559,484 | ||||||
Incyte Corp.(a) |
12,541 | 780,677 | ||||||
Insulet Corp.(a) |
1,479 | 426,455 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Health Care (11.4%): (continued) | ||||||||
Intuitive Surgical, Inc.(a) |
2,135 | 730,042 | ||||||
IQVIA Holdings, Inc.(a) |
2,988 | 671,613 | ||||||
Laboratory Corp. of America Holdings |
3,363 | 811,593 | ||||||
Masimo Corp.(a) |
2,700 | 444,285 | ||||||
Mettler-Toledo International, Inc.(a) |
400 | 524,656 | ||||||
Moderna, Inc.(a) |
2,283 | 277,384 | ||||||
Neurocrine Biosciences, Inc.(a) |
6,669 | 628,887 | ||||||
Regeneron Pharmaceuticals, Inc.(a) |
714 | 513,038 | ||||||
Repligen Corp.(a) |
2,010 | 284,335 | ||||||
ResMed, Inc. |
3,457 | 755,354 | ||||||
Revvity, Inc. |
4,332 | 514,598 | ||||||
Stryker Corp. |
2,403 | 733,131 | ||||||
Teleflex, Inc. |
2,334 | 564,898 | ||||||
United Therapeutics Corp.(a) |
3,280 | 724,060 | ||||||
Veeva Systems, Inc., Class A(a) |
2,955 | 584,292 | ||||||
Vertex Pharamaceuticals, Inc.(a) |
2,167 | 762,589 | ||||||
Waters Corp.(a) |
2,095 | 558,401 | ||||||
West Pharmaceutical Services, Inc. |
1,303 | 498,358 | ||||||
Zimmer Biomet Holdings, Inc. |
6,455 | 939,848 | ||||||
Zoetis, Inc. |
3,850 | 663,008 | ||||||
23,457,649 | ||||||||
Industrials (27.3%): |
||||||||
A.O. Smith Corp. |
9,140 | 665,209 | ||||||
AECOM |
10,312 | 873,323 | ||||||
AGCO Corp. |
4,900 | 643,958 | ||||||
Allegion PLC |
6,299 | 756,006 | ||||||
AMETEK, Inc. |
6,443 | 1,042,993 | ||||||
Axon Enterprise, Inc.(a) |
2,207 | 430,630 | ||||||
Builders FirstSource, Inc.(a) |
5,162 | 702,032 | ||||||
Carlisle Cos., Inc. |
2,956 | 758,303 | ||||||
Carrier Global Corp. |
14,556 | 723,579 | ||||||
Caterpillar, Inc. |
3,044 | 748,976 | ||||||
CH Robinson Worldwide, Inc. |
7,593 | 716,400 | ||||||
Cintas Corp. |
1,873 | 931,031 | ||||||
Copart, Inc.(a) |
10,084 | 919,762 | ||||||
CoStar Group, Inc.(a) |
8,804 | 783,556 | ||||||
CSX Corp. |
26,005 | 886,770 | ||||||
Deere & Co. |
1,966 | 796,604 | ||||||
Dover Corp. |
5,039 | 744,008 | ||||||
Eaton Corp. PLC |
4,843 | 973,927 | ||||||
Equifax, Inc. |
2,852 | 671,076 | ||||||
Expeditors International of Washington, Inc. |
6,216 | 752,944 | ||||||
Fastenal Co. |
14,266 | 841,551 |
See notes to financial statements.
8
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Large/Mid Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Industrials (27.3%): (continued) | ||||||||
Fortive Corp. |
11,654 | 871,370 | ||||||
General Dynamics Corp. |
4,482 | 964,302 | ||||||
Graco, Inc. |
11,803 | 1,019,189 | ||||||
HEICO Corp. |
4,676 | 827,371 | ||||||
Honeywell International, Inc. |
4,668 | 968,610 | ||||||
Howmet Aerospace, Inc. |
17,668 | 875,626 | ||||||
Hubbell, Inc. |
3,143 | 1,042,093 | ||||||
IDEX Corp. |
3,865 | 831,980 | ||||||
Illinois Tool Works, Inc. |
3,641 | 910,833 | ||||||
Ingersoll Rand, Inc. |
12,127 | 792,621 | ||||||
J.B. Hunt Transport Services, Inc. |
3,745 | 677,957 | ||||||
Jack Henry & Associates, Inc. |
4,733 | 791,973 | ||||||
Johnson Controls International PLC |
11,773 | 802,212 | ||||||
Knight-Swift Transportation Holdings, Inc. |
11,518 | 639,940 | ||||||
Leidos Holdings, Inc. |
10,452 | 924,793 | ||||||
Lennox International, Inc. |
2,376 | 774,742 | ||||||
Lincoln Electric Holdings, Inc. |
5,355 | 1,063,664 | ||||||
Masco Corp. |
11,955 | 685,978 | ||||||
Nordson Corp. |
3,191 | 791,942 | ||||||
Norfolk Southern Corp. |
3,776 | 856,246 | ||||||
Old Dominion Freight Line, Inc. |
1,642 | 607,129 | ||||||
Otis Worldwide Corp. |
11,137 | 991,304 | ||||||
PACCAR, Inc. |
11,369 | 951,017 | ||||||
Parker-Hannifin Corp. |
2,197 | 856,918 | ||||||
Paychex, Inc. |
7,354 | 822,692 | ||||||
Paycom Software, Inc. |
1,620 | 520,409 | ||||||
Paylocity Holding Corp.(a) |
2,251 | 415,377 | ||||||
Quanta Services, Inc. |
3,940 | 774,013 | ||||||
Regal Rexnord Corp. |
3,992 | 614,369 | ||||||
Republic Services, Inc. |
7,627 | 1,168,228 | ||||||
Rockwell Automation, Inc. |
2,207 | 727,096 | ||||||
Rollins, Inc. |
20,034 | 858,056 | ||||||
Snap-on, Inc. |
3,800 | 1,095,122 | ||||||
SS&C Technologies Holdings, Inc. |
12,317 | 746,410 | ||||||
Textron, Inc. |
10,849 | 733,718 | ||||||
Toro Co. |
8,430 | 856,910 | ||||||
Trane Technologies PLC |
4,086 | 781,488 | ||||||
TransDigm Group, Inc. |
925 | 827,107 | ||||||
TransUnion |
7,385 | 578,467 | ||||||
U-Haul Holding Co. |
10,267 | 567,970 | ||||||
Union Pacific Corp. |
3,752 | 767,734 | ||||||
United Rentals, Inc. |
1,407 | 626,636 | ||||||
Verisk Analytics, Inc. |
4,133 | 934,182 | ||||||
Waste Management, Inc. |
6,485 | 1,124,629 | ||||||
Watsco, Inc. |
1,893 | 722,123 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Industrials (27.3%): (continued) | ||||||||
Westinghouse Air Brake Technologies Corp. |
7,858 | 861,787 | ||||||
WillScot Mobile Mini Holdings Corp.(a) |
16,436 | 785,476 | ||||||
WW Grainger, Inc. |
1,044 | 823,288 | ||||||
Xylem, Inc. |
6,437 | 724,935 | ||||||
56,340,670 | ||||||||
Information Technology (14.2%): |
||||||||
Advanced Micro Devices, Inc.(a) |
4,224 | 481,156 | ||||||
Akamai Technologies, Inc.(a) |
8,729 | 784,475 | ||||||
Amphenol Corp., Class A |
10,120 | 859,694 | ||||||
Analog Devices, Inc. |
3,389 | 660,211 | ||||||
ANSYS, Inc.(a) |
1,794 | 592,504 | ||||||
Arista Networks, Inc.(a) |
3,318 | 537,715 | ||||||
Bentley Systems, Inc., Class B |
12,874 | 698,157 | ||||||
Broadcom, Inc. |
1,054 | 914,271 | ||||||
Cadence Design Systems, Inc.(a) |
3,025 | 709,423 | ||||||
CDW Corp. |
4,126 | 757,121 | ||||||
Cognizant Technology Solutions Corp., Class A |
10,777 | 703,523 | ||||||
Dynatrace, Inc.(a) |
10,618 | 546,509 | ||||||
Enphase Energy, Inc.(a) |
1,740 | 291,415 | ||||||
Entegris, Inc. |
4,911 | 544,237 | ||||||
EPAM Systems, Inc.(a) |
1,461 | 328,360 | ||||||
Fair Isaac Corp.(a) |
613 | 496,046 | ||||||
Fortinet, Inc.(a) |
6,619 | 500,330 | ||||||
Gartner, Inc.(a) |
2,298 | 805,012 | ||||||
Jabil, Inc. |
8,370 | 903,374 | ||||||
Juniper Networks, Inc. |
23,242 | 728,172 | ||||||
Keysight Technologies, Inc.(a) |
4,154 | 695,587 | ||||||
KLA Corp. |
1,383 | 670,783 | ||||||
Lattice Semiconductor Corp.(a) |
4,616 | 443,459 | ||||||
Manhattan Associates, Inc.(a) |
3,219 | 643,414 | ||||||
Microchip Technology, Inc. |
6,447 | 577,587 | ||||||
Monolithic Power Systems, Inc. |
836 | 451,632 | ||||||
NetApp, Inc. |
10,635 | 812,514 | ||||||
NVIDIA Corp. |
1,363 | 576,576 | ||||||
NXP Semiconductors N.V. |
3,007 | 615,473 | ||||||
ON Semiconductor Corp.(a) |
4,961 | 469,211 | ||||||
Palo Alto Networks, Inc.(a) |
2,553 | 652,317 | ||||||
PTC, Inc.(a) |
5,620 | 799,726 | ||||||
Pure Storage, Inc., Class A(a) |
21,988 | 809,598 | ||||||
Qorvo, Inc.(a) |
5,273 | 538,004 | ||||||
Roper Technologies, Inc. |
2,090 | 1,004,872 | ||||||
Seagate Technology Holdings PLC |
7,765 | 480,421 | ||||||
ServiceNow, Inc.(a) |
980 | 550,731 |
See notes to financial statements.
9
Schedule of Portfolio Investments - continued
June 30, 2023 (Unaudited)
Timothy Plan US Large/Mid Cap Core ETF
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Information Technology (14.2%): (continued) | ||||||||
Skyworks Solutions, Inc. |
4,654 | 515,151 | ||||||
Synopsys, Inc.(a) |
1,664 | 724,522 | ||||||
TD SYNNEX Corp. |
7,356 | 691,464 | ||||||
TE Connectivity Ltd. |
5,676 | 795,548 | ||||||
Teledyne Technologies, Inc.(a) |
1,745 | 717,387 | ||||||
Teradyne, Inc. |
5,005 | 557,207 | ||||||
Trimble, Inc.(a) |
10,750 | 569,105 | ||||||
Tyler Technologies, Inc.(a) |
1,587 | 660,938 | ||||||
Zebra Technologies Corp.(a) |
1,481 | 438,124 | ||||||
29,303,056 | ||||||||
Materials (7.1%): |
||||||||
Albemarle Corp. |
2,158 | 481,428 | ||||||
Avery Dennison Corp. |
3,880 | 666,584 | ||||||
Ball Corp. |
10,304 | 599,796 | ||||||
Celanese Corp. |
4,547 | 526,543 | ||||||
CF Industries Holdings, Inc. |
6,453 | 447,967 | ||||||
Cleveland-Cliffs, Inc.(a) |
20,918 | 350,586 | ||||||
Crown Holdings, Inc. |
6,962 | 604,789 | ||||||
Eastman Chemical Co. |
7,180 | 601,110 | ||||||
Ecolab, Inc. |
3,883 | 724,917 | ||||||
FMC Corp. |
6,838 | 713,477 | ||||||
Freeport-McMoRan, Inc. |
9,864 | 394,560 | ||||||
International Paper Co. |
17,647 | 561,351 | ||||||
LyondellBasell Industries N.V., Class A |
6,934 | 636,749 | ||||||
Martin Marietta Materials, Inc. |
1,942 | 896,602 | ||||||
Nucor Corp. |
3,296 | 540,478 | ||||||
Packaging Corp. of America |
4,958 | 655,249 | ||||||
PPG Industries, Inc. |
4,472 | 663,198 | ||||||
Reliance Steel & Aluminum Co. |
3,013 | 818,301 | ||||||
RPM International, Inc. |
8,463 | 759,385 | ||||||
Steel Dynamics, Inc. |
4,451 | 484,847 | ||||||
The Mosaic Co. |
10,051 | 351,785 | ||||||
The Sherwin-Williams Co. |
2,620 | 695,662 | ||||||
Vulcan Materials Co. |
4,450 | 1,003,208 | ||||||
Westlake Corp. |
4,706 | 562,226 | ||||||
14,740,798 | ||||||||
Utilities (7.5%): |
||||||||
Alliant Energy Corp. |
15,329 | 804,466 | ||||||
Ameren Corp. |
9,932 | 811,146 | ||||||
American Electric Power Co., Inc. |
9,230 | 777,166 | ||||||
American Water Works Co., Inc. |
5,519 | 787,837 | ||||||
Atmos Energy Corp. |
7,656 | 890,699 | ||||||
CenterPoint Energy, Inc. |
29,761 | 867,533 | ||||||
CMS Energy Corp. |
14,403 | 846,176 | ||||||
Consolidated Edison, Inc. |
9,909 | 895,774 |
SECURITY DESCRIPTION |
SHARES |
VALUE ($) |
||||||
Utilities (7.5%): (continued) | ||||||||
DTE Energy Co. |
7,905 | 869,708 | ||||||
Entergy Corp. |
7,828 | 762,212 | ||||||
Essential Utilities, Inc. |
20,003 | 798,320 | ||||||
Evergy, Inc. |
14,064 | 821,619 | ||||||
Eversource Energy |
10,818 | 767,213 | ||||||
NextEra Energy, Inc. |
9,784 | 725,973 | ||||||
NiSource, Inc. |
29,813 | 815,386 | ||||||
Public Service Enterprise Group, Inc. |
12,692 | 794,646 | ||||||
The Southern Co. |
12,847 | 902,502 | ||||||
WEC Energy Group, Inc. |
9,132 | 805,808 | ||||||
Xcel Energy, Inc. |
12,425 | 772,462 | ||||||
15,516,646 | ||||||||
Total Common Stocks (Cost $183,349,842) |
205,560,116 | |||||||
Total Investments (Cost |