Timothy Plan Large/Mid Cap Growth Fund (TLGAX) NPORT-P Timothy Plan High Dividend Stock ETF (Sep 2019 report)

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
Common Stocks (99.7%)
Communication Services (0.2%):
Zayo Group Holdings, Inc.	4,809		163,025
		$	163,025
Consumer Discretionary (10.1%):
Advance Auto Parts, Inc.	1,302		215,351
AutoZone, Inc.	277		300,440
Booking Holdings, Inc.	134		262,990
BorgWarner, Inc.	4,994		183,179
Bright Horizons Family Solutions, Inc.	2,927		446,368
Burlington Stores, Inc.	1,302		260,166
CarMax, Inc.	3,312		291,456
Columbia Sportswear Co.	2,194		212,576
Dollar General Corp.	2,366		376,052
Dr Horton, Inc.	4,469		235,561
Five Below	1,250		157,625
Foot Locker, Inc.	3,124		134,832
Garmin Ltd.	2,914		246,787
Genuine Parts Co.	3,720		370,475
Grand Canyon Education, Inc.	1,822		178,920
Hanesbrands, Inc.	8,211		125,793
Kohl’s Corp.	2,852		141,630
Lear Corp.	1,445		170,366
Leggett & Platt, Inc.	5,922		242,447
Lennar Corp.	4,164		232,559
LKQ Corp.	8,953		281,572
Mohawk Industries, Inc.	1,240		153,847
NVR, Inc.	80		297,388
Ollie’s Bargain Outlet Holdings, Inc.	2,108		123,613
O’Reilly Automotive, Inc.	744		296,491
Pool Corp.	1,984		400,172
Pultegroup, Inc.	7,578		276,976
Qurate Retail, Inc.	12,223		126,080
Ross Stores, Inc.	2,852		313,291
Service Corp. International	7,365		352,121
Tapestry, Inc.	5,922		154,268
Tractor Supply Co.	2,495		225,648
Yum China Holdings, Inc.	4,092		185,900
		$	7,972,940
Consumer Staples (2.4%):
Costco Wholesale Corp.	1,255		361,578
Herbalife Nutrition Ltd.	5,528		209,290
Ingredion, Inc.	2,914		238,190
Lamb Weston Holding, Inc.	4,055		294,880
McCormick & Co., Inc.	2,108		329,480
The JM Smucker Co.	2,299		252,936
US Foods Holding Corp.	6,101		250,751
		$	1,937,105

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
Energy (4.1%):
Cabot Oil & Gas Corp.	8,008		140,701
Cimarex Energy Co.	2,570		123,206
ConocoPhillips	3,608		205,584
Continental Resources, Inc.	3,410		104,994
Diamondback Energy, Inc.	1,798		161,658
EOG Resources, Inc.	1,990		147,698
Halliburton Co.	6,763		127,483
HollyFrontier Corp.	3,782		202,866
Marathon Oil Corp.	9,583		117,583
Marathon Petroleum Corp.	3,613		219,490
Occidental Petroleum Corp.	8,839		393,070
ONEOK, Inc.	4,032		297,118
Parsley Energy, Inc.	8,488		142,598
Phillips 66	2,623		268,595
Pioneer Natural Resources Co.	1,240		155,955
Schlumberger Ltd.	5,490		187,593
Valero Energy Corp.	2,487		211,992
		$	3,208,184
Financials (13.2%):
Aflac, Inc.	7,686		402,132
Arch Capital Group Ltd.	11,720		492,006
Arthur J Gallagher & Co.	5,370		480,991
Assurant, Inc.	3,596		452,449
BOK Financial Corp.	3,567		282,328
Brown & Brown, Inc.	13,956		503,253
CBOE Global Markets, Inc.	3,286		377,594
Commerce Bancshares, Inc.	6,163		373,786
Credit Acceptance Corp.	496		228,810
Cullen/Frost Bankers, Inc.	3,064		271,317
E*TRADE Financial Corp.	5,146		224,829
East West BanCorp, Inc.	5,085		225,215
FactSet Research Systems, Inc.	1,264		307,114
Fidelity National Financial, Inc.	7,679		341,024
First American Financial Corp.	5,406		319,008
Franklin Resources, Inc.	7,447		214,920
Globe Life, Inc.	4,062		388,977
Intercontinental Exchange, Inc.	4,900		452,122
Invesco Ltd.	11,190		189,559
LPL Financial Holdings, Inc.	3,224		264,046
MarketAxess Holdings, Inc.	1,131		370,403
MSCI, Inc.	1,178		256,510
New York Community BanCorp, Inc.	22,789		286,002
People’s United Financial, Inc.	19,662		307,415
Popular, Inc.	5,174		279,810
Reinsurance Group of America, Inc.	2,195		350,937
Santander Consumer USA Holdings, Inc.	12,242		312,293
SEI Investments Co.	5,084		301,252

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
Signature Bank		1,922		229,141
SVB Financial Group		760		158,802
Synovus Financial Corp.		6,905		246,923
WR Berkley Corp.		7,743		559,277
			$	10,450,245
Health Care (8.6%):
ABIOMED, Inc.		500		88,945
Agilent Technologies, Inc.		3,419		261,998
Align Technology, Inc.		471		85,213
Bruker Corp.		5,739		252,114
Centene Corp.		4,402		190,431
Cerner Corp.		4,358		297,084
Charles River Laboratories International, Inc.		1,556		205,968
Edwards Lifesciences Corp.		1,062		233,544
Encompass Health Corp.		4,715		298,365
Exelixis, Inc.		5,914		104,589
Henry Schein, Inc.		4,526		287,401
Hill-Rom Holdings, Inc.		2,542		267,495
IDEXX Laboratories, Inc.		1,055		286,886
Illumina, Inc.		516		156,978
Intuitive Surgical, Inc.		352		190,055
IQVIA Holdings, Inc.		1,798		268,584
Jazz Pharmaceuticals PLC		1,572		201,436
Masimo Corp.		1,922		285,974
Mettler-Toledo International		374		263,445
PerkinElmer, Inc.		2,368		201,683
PRA Health Sciences, Inc.		2,046		203,025
Regeneron Pharmaceuticals, Inc.		581		161,169
ResMed, Inc.		2,126		287,244
United Therapeutics Corp.		2,046		163,169
Varian Medical Systems, Inc.		1,984		236,275
Veeva Systems, Inc.		1,240		189,336
Vertex Pharamaceuticals, Inc.		1,303		220,754
Waters Corp.		1,073		239,526
West Pharmaceutical Services, Inc.		2,196		311,437
Zoetis, Inc.		2,914		363,055
			$	6,803,178
Industrials (22.8%):
Allegion PLC		3,536		366,506
Allison Transmission Holding, Inc.		5,271		248,001
AMERCO, Inc.		930		362,736
Ametek, Inc.		3,472		318,799
AO Smith Corp.		4,921		234,781
Arconic, Inc.		8,113		210,938
Carlisle Companies, Inc.		2,260		328,920
Caterpillar, Inc.		1,449		183,023
CH Robinson Worldwide, Inc.		3,621		306,988
Cintas Corp.		1,376		368,906

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
Copart, Inc.		3,410		273,925
Costar Group, Inc.		496		294,227
CSX Corp.		3,802		263,365
Deere & Co.		1,488		250,996
Donaldson Co., Inc.		4,861		253,161
Dover Corp.		3,100		308,635
Eaton Corp. PLC		3,733		310,399
Emerson Electric Co.		4,124		275,731
Equifax, Inc.		2,064		290,343
Expeditors International of Washington, Inc.		3,797		282,079
Fastenal Co.		8,184		267,371
Flowserve Corp.		4,363		203,796
Fortive Corp.		3,534		242,291
Fortune Brands Home & Security, Inc.		4,590		251,073
General Dynamics Corp.		1,798		328,549
Graco, Inc.		5,806		267,308
HEICO Corp.		2,437		304,333
Hexcel Corp.		4,310		353,980
Honeywell International, Inc.		2,356		398,635
Hubbell, Inc.		1,991		261,617
Huntington Ingalls Industries, Inc.		1,179		249,700
IDEX Corp.		1,860		304,817
Illinois Tool Works, Inc.		1,818		284,499
J.B. Hunt Transport Services, Inc.		2,617		289,571
Johnson Controls International PLC		8,321		365,208
Kansas City Southern		2,356		313,372
KAR Auction Services, Inc.		4,898		120,246
Knight-Swift Transportation Holdings, Inc.		4,716		171,191
L3Harris Technologies, Inc.		1,364		284,585
Lennox International, Inc.		1,178		286,219
Lincoln Electric Holdings, Inc.		3,110		269,824
Masco Corp.		6,014		250,664
Middleby Corp.		1,753		204,926
Nordson Corp.		1,878		274,676
Norfolk Southern Corp.		1,426		256,195
Old Dominion Freight Line, Inc.		1,488		252,915
PACCAR, Inc.		4,171		292,012
Parker Hannifin Corp.		1,426		257,550
Rollins, Inc.		7,645		260,465
Roper Technologies, Inc.		821		292,769
Snap-on, Inc.		1,616		252,969
Spirit Aerosystems Holdings, Inc.		3,100		254,944
Teledyne Technologies, Inc.		1,178		379,304
Toro Co.		4,783		350,593
TransDigm Group, Inc.		535		278,558
Transunion		3,658		296,700
Union Pacific Corp.		1,614		261,436
United Rentals, Inc.		1,261		157,171
Verisk Analytics, Inc.		2,615		413,537

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
WABCO Holdings, Inc.		1,686		225,503
Wabtec Corp.		2,542		182,668
Waste Management, Inc.		4,030		463,450
Woodward, Inc.		2,372		255,773
XPO Logistics, Inc.		1,984		141,995
Xylem, Inc.		3,176		252,873
			$	18,060,290
Information Technology (18.3%):
Advanced Micro Devices, Inc.		3,373		97,783
Alliance Data Systems Corp.		1,181		151,322
Amphenol Corp.		3,062		295,483
Analog Devices, Inc.		2,122		237,091
ANSYS, Inc.		1,302		288,211
Arrow Electronics, Inc.		3,308		246,711
Aspen Technology, Inc.		1,872		230,406
Black Knight, Inc.		5,279		322,336
Broadcom, Inc.		576		159,016
Broadridge Financial Solutions		2,182		271,506
Cadence Design Systems, Inc.		3,472		229,430
CDK Global, Inc.		4,915		236,362
CDW Corp.		2,257		278,153
Ciena Corp.		5,340		209,488
Citrix Systems, Inc.		3,906		377,006
Cognex Corp.		2,791		137,122
Cognizant Technology Solutions Corp.		3,868		233,105
Cypress Semiconductor Corp.		12,002		280,127
Dolby Laboratories, Inc.		4,588		296,567
DXC Technology Co.		3,004		88,618
EPAM Systems, Inc.		1,302		237,381
Euronet Worldwide, Inc.		1,426		208,624
F5 Networks, Inc.		1,504		211,192
Fair Isaac Corp.		872		264,669
Fidelity National Information Services, Inc.		3,038		403,325
Fiserv, Inc.		3,494		361,943
Fleetcor Technologies, Inc.		1,123		322,054
FLIR Systems, Inc.		4,683		246,279
Fortinet, Inc.		1,860		142,774
Genpact Ltd.		9,258		358,748
Godaddy, Inc.		2,488		164,158
IPG Photonics Corp.		768		104,141
Jack Henry & Associates, Inc.		2,356		343,905
Juniper Networks, Inc.		9,747		241,238
KLA Corp.		1,550		247,148
Lam Research Corp.		930		214,932
Maxim Integrated Products, Inc.		3,906		226,196
Microchip Technology, Inc.		1,940		180,245
Micron Technology, Inc.		3,534		151,432
Monolithic Power Systems, Inc.		1,302		202,630

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
National Instruments Corp.		4,728		198,529
NetApp, Inc.		2,480		130,225
NVIDIA Corp.		682		118,716
On Semiconductor Corp.		6,867		131,915
Paychex, Inc.		4,726		391,171
Paycom Software, Inc.		825		172,829
PTC, Inc.		2,108		143,723
RealPage, Inc.		3,188		200,398
Sabre Corp.		11,688		261,753
Seagate Technology PLC		3,662		196,979
Skyworks Solutions, Inc.		2,170		171,973
Synopsys, Inc.		2,246		308,264
TE Connectivity Ltd.		3,426		319,234
Teradyne, Inc.		4,283		248,029
The Trade Desk, Inc.		441		82,710
Trimble, Inc.		5,159		200,221
Tyler Technologies, Inc.		1,266		332,325
Universal Display Corp.		682		114,508
VeriSign, Inc.		1,178		222,206
Western Union Co.		20,296		470,259
Wex, Inc.		1,249		252,385
Xilinx, Inc.		1,240		118,916
Zebra Technologies Corp.		744		153,539
			$	14,439,664
Materials (9.6%):
Albemarle Corp.		2,634		183,116
AptarGroup, Inc.		3,300		390,885
Avery Dennison Corp.		2,441		277,224
Ball Corp.		5,642		410,795
Berry Global Group, Inc.		4,870		191,245
Celanese Corp.		2,480		303,279
CF Industries Holdings, Inc.		4,231		208,165
Chemours Co.		4,304		64,302
Crown Holdings, Inc.		4,488		296,477
Eastman Chemical Co.		3,192		235,665
Ecolab, Inc.		2,233		442,224
FMC Corp.		3,315		290,659
Freeport-McMoRan, Inc.		11,132		106,533
International Flavors & Fragrances, Inc.		2,314		283,905
International Paper Co.		5,084		212,613
LyondellBasell Industries N.V., Class A		3,038		271,810
Martin Marietta Materials, Inc.		1,133		310,555
Nucor Corp.		4,792		243,961
Packaging Corp. of America		2,254		239,149
PPG Industries, Inc.		2,423		287,150
Reliance Steel & Aluminum Co.		3,472		346,019
RPM International, Inc.		5,104		351,206
Sherwin-Williams Co.		682		375,011

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan US Large Cap Core ETF

SECURITY DESCRIPTION	SHARES		VALUE
Sonoco Products Co.		6,076		353,684
Steel Dynamics, Inc.		6,756		201,329
The Mosaic Co.		7,706		157,973
Vulcan Materials Co.		1,628		246,219
Westlake Chemical Corp.		2,606		170,745
Westrock Co.		5,618		204,776
			$	7,656,674
Utilities (10.4%):
AES Corp.		16,755		273,777
Alliant Energy Corp.		9,050		488,067
American Electric Power Co., Inc.		5,286		495,245
American Water Works Co., Inc.		3,921		487,106
Atmos Energy Corp.		4,002		455,788
CMS Energy Corp.		7,892		504,693
Consolidated Edison, Inc.		4,748		448,544
Dominion Energy, Inc.		5,465		442,884
DTE Energy Co.		3,534		469,881
Evergy, Inc.		7,561		503,260
Eversource Energy		6,273		536,153
NextEra Energy, Inc.		2,322		541,004
OGE Energy Corp.		10,186		462,241
Pinnacle West Capital Corp.		4,369		424,099
PPL Corp.		11,306		356,026
Public Service Enterprise Group, Inc.		6,830		424,006
UGI Corp.		6,803		341,987
WEC Energy Group		5,617		534,176
			$	8,188,937
Total Common Stocks (Cost $77,104,599)			$	78,880,242
Total Investments (Cost $77,104,599) — 99.7%			$	78,880,242
Other assets in excess of liabilities — 0.3%			$	236,917
NET ASSETS - 100.00%			$	79,117,159

Percentages indicated are based on net assets as of September 30, 2019.    

Futures Contracts    

Cash of $26,431 has been segregated to cover margin requirements for the following open contracts as of September 30, 2019:    

Long Futures    

Description	Expiration Date	Number of Contracts		Notional Amount	Value and Unrealized Appreciation/ (Depreciation)
S&P 500 IndexE-Mini December Futures (U.S. Dollar)	12/20/19		1	$            148,925	$	(1,129	)
					$	(1,129	)

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan High Dividend Stock ETF

SECURITY DESCRIPTION	SHARES		VALUE
Common Stocks (99.4%)
Consumer Discretionary (5.3%):
Foot Locker, Inc.	7,604		328,189
Garmin Ltd.	7,053		597,319
Genuine Parts Co.	9,007		897,007
Hanesbrands, Inc.	20,013		306,599
Kohl’s Corp.	6,904		342,853
Lear Corp.	3,525		415,598
Leggett & Platt, Inc.	14,404		589,700
Tapestry, Inc.	14,405		375,250
		$	3,852,515
Consumer Staples (1.6%):
Ingredion, Inc.	7,054		576,594
The JM Smucker Co.	5,586		614,572
		$	1,191,166
Energy (6.4%):
Halliburton Co.	16,479		310,629
HollyFrontier Corp.	9,146		490,591
Marathon Petroleum Corp.	8,787		533,810
Occidental Petroleum Corp.	21,488		955,572
ONEOK, Inc.	9,791		721,500
Phillips 66	6,386		653,926
Schlumberger Ltd.	13,356		456,375
Valero Energy Corp.	6,043		515,105
		$	4,637,508
Financials (17.3%):
Aflac, Inc.	18,713		979,064
Arthur J Gallagher & Co.	13,071		1,170,770
Assurant, Inc.	8,726		1,097,905
BOK Financial Corp.	8,687		687,576
Cullen/Frost Bankers, Inc.	7,463		660,849
East West BanCorp, Inc.	12,348		546,893
Fidelity National Financial, Inc.	18,689		829,978
First American Financial Corp.	13,134		775,037
Franklin Resources, Inc.	18,139		523,492
Invesco Ltd.	27,246		461,547
New York Community BanCorp, Inc.	55,463		696,061
People’s United Financial, Inc.	47,847		748,088
Popular, Inc.	12,587		680,705
Santander Consumer USA Holdings, Inc.	29,798		760,147
Synovus Financial Corp.	16,836		602,055
WR Berkley Corp.	18,848		1,361,392
		$	12,581,559
Health Care (1.0%):
Encompass Health Corp.	11,448		724,429
		$	724,429

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan High Dividend Stock ETF

SECURITY DESCRIPTION	SHARES		VALUE
Industrials (17.4%):
Caterpillar, Inc.	3,538		446,885
CH Robinson Worldwide, Inc.	8,815		747,336
Deere & Co.	3,580		603,874
Dover Corp.	7,488		745,505
Eaton Corp. PLC	9,074		754,503
Emerson Electric Co.	10,039		671,208
Fastenal Co.	19,863		648,924
General Dynamics Corp.	4,309		787,384
Honeywell International, Inc.	5,694		963,425
Hubbell, Inc.	4,840		635,976
Illinois Tool Works, Inc.	4,432		693,564
Johnson Controls International PLC	20,268		889,563
KAR Auction Services, Inc.	11,869		291,384
Lincoln Electric Holdings, Inc.	7,559		655,819
PACCAR, Inc.	10,140		709,901
Snap-on, Inc.	3,927		614,733
Union Pacific Corp.	3,920		634,962
Waste Management, Inc.	9,768		1,123,320
		$	12,618,266
Information Technology (11.9%):
Analog Devices, Inc.	5,166		577,197
Broadcom, Inc.	1,414		390,363
Cypress Semiconductor Corp.	29,224		682,089
Juniper Networks, Inc.	23,727		587,243
KLA Corp.	3,743		596,821
Lam Research Corp.	2,210		510,753
Maxim Integrated Products, Inc.	9,473		548,581
National Instruments Corp.	11,492		482,549
NetApp, Inc.	5,978		313,905
Paychex, Inc.	11,484		950,531
Sabre Corp.	28,457		637,295
Seagate Technology PLC	8,894		478,408
TE Connectivity Ltd.	8,331		776,282
Western Union Co.	49,401		1,144,620
		$	8,676,637
Materials (12.7%):
Avery Dennison Corp.	5,945		675,174
Celanese Corp.	5,995		733,129
CF Industries Holdings, Inc.	10,284		505,973
Chemours Co.	10,473		156,467
Eastman Chemical Co.	7,776		574,102
International Flavors & Fragrances, Inc.	5,635		691,358
International Paper Co.	12,336		515,892
LyondellBasell Industries N.V., Class A	7,339		656,620
Nucor Corp.	11,648		593,000
Packaging Corp. of America	5,492		582,701

	Schedule of Portfolio Investments
	September 30, 2019
	(Unaudited)
Timothy Plan High Dividend Stock ETF

SECURITY DESCRIPTION	SHARES		VALUE
Reliance Steel & Aluminum Co.	8,421		839,237
RPM International, Inc.	12,409		853,862
Sonoco Products Co.	14,752		858,713
Steel Dynamics, Inc.	16,453		490,299
Westrock Co.	13,671		498,308
		$	9,224,835
Utilities (25.8%):
Alliant Energy Corp.	22,023		1,187,700
American Electric Power Co., Inc.	12,845		1,203,448
Evergy, Inc.	18,409		1,225,303
Eversource Energy	15,294		1,307,178
NextEra Energy, Inc.	5,661		1,318,956
OGE Energy Corp.	24,798		1,125,333
Pinnacle West Capital Corp.	10,634		1,032,242
PPL Corp.	27,522		866,668
Atmos Energy Corp.	9,744		1,109,744
UGI Corp.	16,554		832,170
AES Corp.	40,745		665,773
CMS Energy Corp.	19,230		1,229,758
Consolidated Edison, Inc.	11,558		1,091,884
Dominion Energy, Inc.	13,276		1,075,887
DTE Energy Co.	8,548		1,136,542
Public Service Enterprise Group, Inc.	16,646		1,033,384
WEC Energy Group	13,665		1,299,541
		$	18,741,511
Total Common Stocks (Cost $70,526,770)		$	72,248,426
Total Investments (Cost $70,526,770) — 99.4%		$	72,248,426
Other assets in excess of liabilities — 0.6%		$	421,034
NET ASSETS - 100.00%		$	72,669,460

Percentages indicated are based on net assets as of September 30, 2019.

Futures Contracts

Cash of $59,516 has been segregated to cover margin requirements for the following open contracts as of September 30, 2019:

Long Futures

Description	Expiration Date		Number of Contracts		Notional     Amount		Value and Unrealized Appreciation/ (Depreciation)
S&P 500 IndexE-Mini December Futures (U.S. Dollar)		12/20/19		2	$	297,850	$	(2,863	)
							$	(2,863	)