CEF Sprott Physical Gold and Silver Trust

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-02538

 

Touchstone Investment Trust

(Exact name of registrant as specified in charter)

 

303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203

(Address of principal executive offices) (Zip code)

Jill T. McGruder

303 Broadway, Suite 1100

Cincinnati, Ohio 45202-4203

(Name and address of agent for service)

 

Registrant's telephone number, including area code: 800-638-8194

 

Date of fiscal year end: September 30

 

Date of reporting period: December 31, 2013

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

 

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

Item 1. Schedule of Investments.

 

The Schedule(s) of Investments is attached herewith.

 

Portfolio of Investments

 

Touchstone Core Bond Fund – December 31, 2013 (Unaudited)

 

 

	Principal						Market
	Amount						Value
				Corporate Bonds— 43.6%
				Financials — 11.5%
$	11,000			Aircastle Ltd., 6.250%, 12/1/19		$	11,784
	74,000			Ally Financial, Inc., 8.000%, 12/31/18			87,320
	151,000			Ally Financial, Inc., 8.000%, 11/1/31			179,690
	480,000			American Express Credit Corp. MTN,
				2.375%, 3/24/17			493,381
	285,000			Bank of America Corp. MTN,
				5.000%, 5/13/21			311,440
	452,000			Bank of America NA, 5.300%, 3/15/17			498,204
	280,000			Boston Properties LP, 4.125%, 5/15/21			286,046
	305,000			Brandywine Operating Partnership LP,
				5.400%, 11/1/14			316,073
	300,000			CIT Group, Inc., 5.000%, 5/15/17			320,250
	34,000			CIT Group, Inc., 5.000%, 8/15/22			33,150
	500,000			Citigroup, Inc., 3.375%, 3/1/23			475,258
	44,000			Credit Acceptance Corp.,
				9.125%, 2/1/17			46,200
	890,000			Ford Motor Credit Co. LLC,
				2.375%, 1/16/18			898,864
	900,000			General Electric Capital Corp.,
				6.250%, 12/15/49 (A)			929,250
	605,000			General Electric Capital Corp. MTN,
				4.625%, 1/7/21			659,720
	85,000			General Motors Financial Co., Inc.,
				144a, 4.250%, 5/15/23			80,856
	310,000			Goldman Sachs Group, Inc. (The),
				2.375%, 1/22/18			311,178
	415,000			Goldman Sachs Group, Inc. (The),
				6.125%, 2/15/33			466,808
	175,000			Health Care REIT, Inc., 6.125%, 4/15/20			196,960
	180,000			HSBC Bank PLC, 144a, 4.125%, 8/12/20			190,456
	9,000			International Lease Finance Corp.,
				4.625%, 4/15/21			8,595
	15,000			International Lease Finance Corp.,
				5.875%, 8/15/22			14,962
	9,000			International Lease Finance Corp.,
				6.250%, 5/15/19			9,742
	208,000			JPMorgan Chase & Co.,
				4.400%, 7/22/20			223,591
	465,000			JPMorgan Chase & Co.,
				6.000%, 1/15/18			535,437
	125,000			KeyCorp MTN, 5.100%, 3/24/21			136,614
	440,000			Morgan Stanley, 3.750%, 2/25/23			428,149
	46,000			MPT Operating Partnership LP / MPT
				Finance Corp., 6.375%, 2/15/22			47,610
	53,000			MPT Operating Partnership LP / MPT
				Finance Corp., 6.875%, 5/1/21			56,710
	43,000			Omega Healthcare Investors, Inc.,
				6.750%, 10/15/22			46,709
	82,000			PHH Corp., 6.375%, 8/15/21			82,000
	143,000			PHH Corp., 7.375%, 9/1/19			152,652
	500,000			PNC Bank NA, 2.700%, 11/1/22			453,234
	192,000			Protective Life Corp., 7.375%, 10/15/19			234,161
	170,000			Santander Holdings USA, Inc.,
				4.625%, 4/19/16			181,280
	915,000			Simon Property Group LP,
				4.125%, 12/1/21			946,565
	57,000			SLM Corp. MTN, 5.500%, 1/15/19			59,152
	75,000			SLM Corp. MTN, 6.250%, 1/25/16			81,000
	32,000			SLM Corp. MTN, 8.450%, 6/15/18			37,280
	133,000			SunTrust Bank, 7.250%, 3/15/18			156,486
	465,000			Teachers Insurance & Annuity
				Association of America, 144a,
				6.850%, 12/16/39			573,991
	290,000			WCI Finance LLC / WEA Finance LLC,
				144a, 5.700%, 10/1/16			323,748
							11,582,556
				Energy — 8.3%
	35,000			Atlas Pipeline Partners LP / Atlas
				Pipeline Finance Corp.,
				6.625%, 10/1/20			36,575
	13,000			Atlas Pipeline Partners LP / Atlas
				Pipeline Finance Corp., 144a,
				5.875%, 8/1/23			12,382
	67,000			Basic Energy Services, Inc.,
				7.750%, 2/15/19			70,015
	7,000			Basic Energy Services, Inc.,
				7.750%, 10/15/22			7,228
	52,000			Bill Barrett Corp., 7.000%, 10/15/22			53,950
	18,000			Bill Barrett Corp., 7.625%, 10/1/19			19,350
	8,000			Calfrac Holdings LP, 144a,
				7.500%, 12/1/20			8,160
	505,000			Canadian Natural Resources Ltd.,
				6.250%, 3/15/38			565,868
	16,000			Carrizo Oil & Gas, Inc., 7.500%, 9/15/20			17,520
	33,000			Carrizo Oil & Gas, Inc.,
				8.625%, 10/15/18			35,722
	46,000			Chesapeake Energy Corp.,
				6.625%, 8/15/20			51,405
	7,000			Chesapeake Energy Corp.,
				6.875%, 11/15/20			7,910
	20,000			Chesapeake Energy Corp.,
				7.250%, 12/15/18			23,100
	29,000			Cloud Peak Energy Resources LLC /
				Cloud Peak Energy Finance Corp.,
				8.500%, 12/15/19			31,465
	890,000			CNOOC Finance 2012 Ltd., 144a,
				3.875%, 5/2/22			857,317
	10,000			CONSOL Energy, Inc., 8.000%, 4/1/17			10,538
	10,000			CONSOL Energy, Inc., 8.250%, 4/1/20			10,825
	91,000			Crestwood Midstream Partners LP /
				Crestwood Midstream Finance
				Corp., 144a, 6.125%, 3/1/22			93,275
	735,000			DCP Midstream LLC, 144a,
				5.350%, 3/15/20			768,190
	57,000			Drill Rigs Holdings, Inc., 144a,
				6.500%, 10/1/17			61,560
	225,000			El Paso Natural Gas Co. LLC,
				5.950%, 4/15/17			250,169

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 43.6% (Continued)
				Energy — (Continued)
$	229,000			Enbridge Energy Partners LP,
				9.875%, 3/1/19		$	296,299
	250,000			Enterprise Products Operating LLC,
				3.200%, 2/1/16			260,783
	32,000			Enterprise Products Operating LLC,
				7.000%, 6/1/67 (A)			32,760
	111,000			Expro Finance Luxembourg SCA, 144a,
				8.500%, 12/15/16			115,718
	102,000			Exterran Partners LP / EXLP Finance
				Corp., 144a, 6.000%, 4/1/21			101,235
	40,000			Forest Oil Corp., 7.250%, 6/15/19			38,950
	83,000			Genesis Energy LP / Genesis Energy
				Finance Corp., 5.750%, 2/15/21			83,934
	5,000			Genesis Energy LP / Genesis Energy
				Finance Corp., 7.875%, 12/15/18			5,388
	34,000			Gibson Energy, Inc. (Canada), 144a,
				6.750%, 7/15/21			35,955
	33,000			Hilcorp Energy I LP / Hilcorp Finance
				Co., 144a, 7.625%, 4/15/21			35,805
	118,000			Hilcorp Energy I LP / Hilcorp Finance
				Co., 144a, 8.000%, 2/15/20			127,735
	43,000			Hornbeck Offshore Services, Inc.,
				5.000%, 3/1/21			42,140
	54,000			Key Energy Services, Inc.,
				6.750%, 3/1/21			55,350
	112,000			Linn Energy LLC / Linn Energy Finance
				Corp., 8.625%, 4/15/20			120,960
	18,000			MEG Energy Corp., 144a,
				6.375%, 1/30/23			18,112
	160,000			MEG Energy Corp., 144a,
				6.500%, 3/15/21			168,400
	65,000			Midcontinent Express Pipeline LLC,
				144a, 6.700%, 9/15/19			63,386
	215,000			Nabors Industries, Inc.,
				5.000%, 9/15/20			223,721
	76,000			Newfield Exploration Co.,
				6.875%, 2/1/20			81,415
	64,000			Oasis Petroleum, Inc., 144a,
				6.875%, 3/15/22			67,840
	96,000			Pacific Drilling SA, 144a,
				5.375%, 6/1/20			96,480
	55,000			Pacific Drilling V Ltd., 144a,
				7.250%, 12/1/17			59,400
	130,000			Peabody Energy Corp.,
				6.000%, 11/15/18			138,450
	500,000			Petrobras International Finance Co. -
				Pifco, 5.375%, 1/27/21			496,194
	430,000			Phillips 66, 4.300%, 4/1/22			436,973
	61,000			Pioneer Energy Services Corp.,
				9.875%, 3/15/18			64,660
	210,000			Plains All American Pipeline LP / PAA
				Finance Corp., 6.650%, 1/15/37			245,439
	111,000			Plains Exploration & Production Co.,
				6.750%, 2/1/22			122,269
	820,000			Plains Exploration & Production Co.,
				6.875%, 2/15/23			914,300
	37,000			QEP Resources, Inc., 6.800%, 3/1/20			38,781
	20,000			Regency Energy Partners LP /
				Regency Energy Finance Corp.,
				6.875%, 12/1/18			21,450
	17,000			Rockies Express Pipeline LLC, 144a,
				6.000%, 1/15/19			15,725
	78,000			Sabine Pass Liquefaction LLC, 144a,
				5.625%, 2/1/21			76,245
	8,000			SandRidge Energy, Inc.,
				7.500%, 2/15/23			8,120
	240,000			SandRidge Energy, Inc.,
				8.750%, 1/15/20			258,600
	39,000			SemGroup LP, 144a, 7.500%, 6/15/21			41,242
	47,000			SESI LLC, 7.125%, 12/15/21			52,405
	79,000			Tengizchevoil Finance Co. SARL, 144a,
				6.124%, 11/15/14			80,348
	29,000			Tesoro Logistics LP / Tesoro Logistics
				Finance Corp., 144a,
				5.875%, 10/1/20			29,652
	71,000			Whiting Petroleum Corp.,
				5.000%, 3/15/19			72,598
	72,000			Whiting Petroleum Corp.,
				5.750%, 3/15/21			74,520
							8,312,261
				Consumer Discretionary — 6.2%
	20,000			Albea Beauty Holdings SA, 144a,
				8.375%, 11/1/19			20,800
	57,000			AMC Networks, Inc., 7.750%, 7/15/21			64,125
	46,000			American Airlines 2013-2 Class B Pass
				Through Trust, 144a,
				5.600%, 7/15/20			46,460
	42,000			American Axle & Manufacturing, Inc.,
				6.250%, 3/15/21			44,625
	295,000			Anheuser-Busch InBev Worldwide,
				Inc., 8.200%, 1/15/39			431,455
	28,000			AutoNation, Inc., 5.500%, 2/1/20			30,065
	275,000			Caterpillar Financial Services Corp.
				MTN, 5.450%, 4/15/18			312,587
	88,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 5.250%, 9/30/22			82,170
	3,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 5.750%, 1/15/24			2,835
	4,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 6.500%, 4/30/21			4,110
	25,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 6.625%, 1/31/22			25,750
	37,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 7.000%, 1/15/19			38,989
	85,000			Cequel Communications Holdings I
				LLC / Cequel Capital Corp., 144a,
				6.375%, 9/15/20			87,125

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 43.6% (Continued)
				Consumer Discretionary — (Continued)
$	27,000			Clear Channel Worldwide Holdings,
				Inc., 6.500%, 11/15/22		$	27,574
	66,000			Cogeco Cable, Inc. (Canada), 144a,
				4.875%, 5/1/20			63,690
	200,000			Comcast Corp., 4.650%, 7/15/42			186,121
	114,000			Delphi Corp., 5.000%, 2/15/23			117,278
	220,000			DIRECTV Holdings LLC / DIRECTV
				Financing Co., Inc., 2.400%, 3/15/17			223,974
	33,000			DISH DBS Corp., 4.250%, 4/1/18			33,660
	73,000			DISH DBS Corp., 5.875%, 7/15/22			73,000
	20,000			DISH DBS Corp., 7.875%, 9/1/19			22,900
	39,000			Goodyear Tire & Rubber Co. (The),
				6.500%, 3/1/21			41,340
	52,000			Goodyear Tire & Rubber Co. (The),
				8.750%, 8/15/20			60,840
	220,000			Home Depot, Inc. (The),
				5.950%, 4/1/41			255,437
	56,000			Ingles Markets, Inc., 5.750%, 6/15/23			54,880
	70,000			International Game Technology,
				5.500%, 6/15/20			74,540
	30,000			Jarden Corp., 6.125%, 11/15/22			32,100
	42,000			KB Home, 7.000%, 12/15/21			43,785
	12,000			Libbey Glass, Inc., 6.875%, 5/15/20			12,960
	121,000			LKQ Corp., 144a, 4.750%, 5/15/23			112,530
	60,000			Ltd. Brands, Inc., 5.625%, 2/15/22			61,350
	40,000			Ltd. Brands, Inc., 6.950%, 3/1/33			39,400
	66,000			Meritage Homes Corp.,
				7.150%, 4/15/20			71,280
	38,000			Meritage Homes Corp., 144a,
				7.150%, 4/15/20			41,040
	329,000			MGM Resorts International,
				5.250%, 3/31/20			326,532
	170,000			Mondelez International, Inc.,
				4.125%, 2/9/16			180,227
	210,000			News America, Inc., 6.900%, 3/1/19			251,923
	3,000			Penske Automotive Group, Inc.,
				5.750%, 10/1/22			3,068
	187,000			Quebecor Media, Inc. (Canada),
				5.750%, 1/15/23			180,922
	75,000			QVC, Inc., 5.125%, 7/2/22			74,183
	30,000			Reynolds Group Issuer, Inc. / Reynolds
				Group Issuer LLC / Reynolds Group
				Issuer Lu, 8.250%, 2/15/21			32,025
	20,000			Royal Caribbean Cruises Ltd.,
				5.250%, 11/15/22			20,000
	69,000			RSI Home Products, Inc., 144a,
				6.875%, 3/1/18			72,278
	172,000			Sabre, Inc., 144a, 8.500%, 5/15/19			190,920
	80,000			Service Corp. International/US,
				8.000%, 11/15/21			91,800
	6,000			Sinclair Television Group, Inc.,
				5.375%, 4/1/21			5,910
	108,000			Sinclair Television Group, Inc.,
				6.125%, 10/1/22			109,080
	46,000			Sirius XM Radio, Inc., 144a,
				4.250%, 5/15/20			43,470
	72,000			Sirius XM Radio, Inc., 144a,
				5.250%, 8/15/22			72,720
	24,000			Sirius XM Radio, Inc., 144a,
				5.875%, 10/1/20			24,480
	71,000			Stackpole International Intermediate /
				Stackpole International Powder /
				Stackpl, 144a, 7.750%, 10/15/21			73,840
	200,000			Stewart Enterprises, Inc.,
				6.500%, 4/15/19			212,000
	72,000			StoneMor Partners LP / Cornerstone
				Family Services of WV, 144a,
				7.875%, 6/1/21			74,880
	18,000			Suburban Propane Partners LP /
				Suburban Energy Finance Corp.,
				7.500%, 10/1/18			19,305
	13,000			Taylor Morrison Communities, Inc. /
				Monarch Communities Inc., 144a,
				7.750%, 4/15/20			14,300
	12,000			Tenneco, Inc., 6.875%, 12/15/20			13,110
	22,000			Tenneco, Inc., 7.750%, 8/15/18			23,540
	440,000			Time Warner Cable, Inc.,
				4.125%, 2/15/21			417,016
	6,000			Tomkins LLC / Tomkins, Inc.,
				9.000%, 10/1/18			6,570
	35,000			TRW Automotive, Inc., 144a,
				4.500%, 3/1/21			35,350
	330,000			Viacom, Inc., 6.250%, 4/30/16			367,974
	9,000			Virgin Media Secured Finance PLC
				(United Kingdom), 144a,
				5.375%, 4/15/21			9,000
	32,000			Visteon Corp., 6.750%, 4/15/19			34,000
	505,000			Walt Disney Co. (The) MTN,
				3.700%, 12/1/42			421,744
							6,242,942
				Telecommunication Services — 3.2%
	120,000			America Movil SAB DE CV,
				2.375%, 9/8/16			123,500
	335,000			AT&T, Inc., 5.500%, 2/1/18			377,103
	325,000			CenturyLink, Inc., 5.150%, 6/15/17			348,562
	30,000			CenturyLink, Inc., 5.800%, 3/15/22			29,625
	52,000			CenturyLink, Inc., 6.450%, 6/15/21			54,080
	46,000			Cincinnati Bell, Inc., 8.375%, 10/15/20			49,795
	39,000			Crown Castle International Corp.,
				5.250%, 1/15/23			38,220
	10,000			Frontier Communications Corp.,
				8.125%, 10/1/18			11,425
	57,000			Frontier Communications Corp.,
				8.500%, 4/15/20			63,840
	60,000			GCI, Inc., 8.625%, 11/15/19			63,750
	178,000			Intelsat Jackson Holdings SA,
				7.250%, 10/15/20			194,688
	28,000			MetroPCS Wireless, Inc., 144a,
				6.250%, 4/1/21			29,050
	23,000			Softbank Corp., 144a, 4.500%, 4/15/20			22,425

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 43.6% (Continued)
				Telecommunication Services — (Continued)
$	12,000			Sprint Capital Corp., 6.875%, 11/15/28		$	11,310
	54,000			Sprint Capital Corp., 6.900%, 5/1/19			58,995
	25,000			Sprint Capital Corp., 8.750%, 3/15/32			26,812
	15,000			Sprint Nextel Corp., 6.000%, 11/15/22			14,625
	62,000			Sprint Nextel Corp., 8.375%, 8/15/17			71,765
	130,000			Sprint Nextel Corp., 144a,
				7.000%, 3/1/20			144,950
	56,000			Sprint Nextel Corp., 144a,
				9.000%, 11/15/18			67,480
	52,000			Telecom Italia Capital SA,
				6.999%, 6/4/18			57,590
	194,000			Telefonica Emisiones SAU,
				6.421%, 6/20/16			216,184
	22,000			T-Mobile USA, Inc., 6.125%, 1/15/22			22,385
	5,000			T-Mobile USA, Inc., 6.464%, 4/28/19			5,312
	111,000			T-Mobile USA, Inc., 6.542%, 4/28/20			117,938
	12,000			T-Mobile USA, Inc., 6.836%, 4/28/23			12,450
	6,000			T-Mobile USA, Inc., 144a,
				5.250%, 9/1/18			6,315
	247,000			UPCB Finance V Ltd., 144a,
				7.250%, 11/15/21			267,995
	10,000			UPCB Finance VI Ltd., 144a,
				6.875%, 1/15/22			10,625
	275,000			Verizon Communications, Inc.,
				6.250%, 4/1/37			304,745
	10,000			Videotron Ltd., 5.000%, 7/15/22			9,775
	26,000			West Corp., 7.875%, 1/15/19			28,080
	45,000			West Corp., 8.625%, 10/1/18			48,938
	32,000			Wind Acquisition Finance SA, 144a,
				7.250%, 2/15/18			33,520
	233,000			Windstream Corp., 7.875%, 11/1/17			266,202
							3,210,054
				Materials — 3.1%
	36,000			Aleris International, Inc.,
				7.625%, 2/15/18			38,070
	26,000			ArcelorMittal, 5.750%, 8/5/20			27,625
	275,000			Barrick Gold Corp., 3.850%, 4/1/22			247,673
	43,000			Barrick Gold Corp., 4.100%, 5/1/23			38,867
	42,000			Cascades, Inc., 7.750%, 12/15/17			43,785
	38,000			Cascades, Inc., 7.875%, 1/15/20			40,660
	530,000			Domtar Corp., 10.750%, 6/1/17			661,503
	72,000			FMG Resources August 2006 Pty Ltd.,
				144a, 6.875%, 4/1/22			78,480
	8,000			HudBay Minerals, Inc., 9.500%, 10/1/20			8,220
	29,000			JMC Steel Group, Inc., 144a,
				8.250%, 3/15/18			29,290
	30,000			Koppers, Inc., 7.875%, 12/1/19			32,400
	150,000			Louisiana-Pacific Corp., 7.500%, 6/1/20			166,875
	10,000			Novelis, Inc., 8.375%, 12/15/17			10,675
	215,000			PolyOne Corp., 5.250%, 3/15/23			209,625
	500,000			Rio Tinto Finance USA Ltd.,
				3.500%, 11/2/20			510,486
	226,000			Southern Copper Corp.,
				5.375%, 4/16/20			241,478
	39,000			Tembec Industries, Inc.,
				11.250%, 12/15/18			42,705
	12,000			Texas Industries, Inc., 9.250%, 8/15/20			13,365
	62,000			Vale Overseas Ltd., 5.625%, 9/15/19			67,263
	17,000			Vulcan Materials Co., 7.500%, 6/15/21			19,380
	260,000			Xstrata Finance Canada Ltd., 144a,
				3.600%, 1/15/17			271,198
	280,000			Xstrata Finance Canada Ltd., 144a,
				5.800%, 11/15/16			308,494
							3,108,117
				Utilities — 2.8%
	45,000			AES Corp., 8.000%, 10/15/17			52,875
	874,000			Alabama Power Capital Trust V,
				3.348%, 10/1/42 (A)			819,522
	24,000			Calpine Corp., 144a, 7.500%, 2/15/21			26,190
	21,000			Calpine Corp., 144a, 7.875%, 7/31/20			22,995
	119,000			Calpine Corp., 144a, 7.875%, 1/15/23			130,008
	320,000			CenterPoint Energy, Inc.,
				5.950%, 2/1/17			358,804
	575,000			Dominion Resources, Inc.,
				5.950%, 6/15/35			634,697
	94,000			DPL, Inc., 7.250%, 10/15/21			95,175
	129,000			InterGen NV, 144a, 7.000%, 6/30/23			133,515
	115,000			NextEra Energy Capital Holdings, Inc.,
				6.000%, 3/1/19			130,283
	225,000			NextEra Energy Capital Holdings, Inc.,
				6.350%, 10/1/66 (A)			225,000
	15,000			NGL Energy Partners LP / NGL Energy
				Finance Corp., 144a,
				6.875%, 10/15/21			15,375
	185,000			PPL Energy Supply LLC,
				6.500%, 5/1/18			205,793
	18,000			Sabine Pass LNG LP, 6.500%, 11/1/20			18,675
							2,868,907
				Industrials — 2.5%
	58,000			ACCO Brands Corp., 6.750%, 4/30/20			57,275
	250,000			Air Lease Corp., 5.625%, 4/1/17			275,312
	106,000			Alliant Techsystems, Inc., 144a,
				5.250%, 10/1/21			106,265
	39,000			Amsted Industries, Inc., 144a,
				8.125%, 3/15/18			41,096
	60,000			B/E Aerospace, Inc., 5.250%, 4/1/22			60,900
	32,000			Belden, Inc., 144a, 5.500%, 9/1/22			31,360
	32,000			Bombardier, Inc., 144a,
				6.125%, 1/15/23			31,760
	190,000			Burlington Northern Santa Fe LLC,
				5.750%, 5/1/40			208,505
	10,000			BWAY Holding Co., 10.000%, 6/15/18			10,850
	54,000			Calcipar SA, 144a, 6.875%, 5/1/18			57,240
	7,000			Chrysler Group LLC / CG Co.-Issuer,
				Inc., 8.250%, 6/15/21			7,962

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 43.6% (Continued)
				Industrials — (Continued)
$	109,000			Constellation Brands, Inc.,
				3.750%, 5/1/21		$	102,460
	25,227			Continental Airlines 2003-ERJ1 Pass
				Through Trust, Series RJ03,
				7.875%, 7/2/18			27,183
	158,000			Con-way, Inc., 6.700%, 5/1/34			161,072
	22,000			DigitalGlobe, Inc., 144a,
				5.250%, 2/1/21			21,450
	19,000			Dynacast International LLC / Dynacast
				Finance, Inc., 9.250%, 7/15/19			20,948
	23,000			Griffon Corp., 7.125%, 4/1/18			24,380
	20,000			Huntington Ingalls Industries, Inc.,
				7.125%, 3/15/21			21,950
	80,000			Hutchison Whampoa International
				09/19 Ltd., 144a, 5.750%, 9/11/19			90,502
	47,000			JB Poindexter & Co., Inc., 144a,
				9.000%, 4/1/22			50,172
	25,000			JM Huber Corp., 144a,
				9.875%, 11/1/19			28,719
	66,000			Martin Midstream Partners LP / Martin
				Midstream Finance Corp.,
				7.250%, 2/15/21			67,320
	13,000			Nielsen Co. Luxembourg SARL, 144a,
				5.500%, 10/1/21			13,195
	32,000			Nielsen Finance LLC / Nielsen Finance
				Co., 4.500%, 10/1/20			31,120
	350,000			Norfolk Southern Corp.,
				5.750%, 4/1/18			398,761
	370,000			Republic Services, Inc., 3.550%, 6/1/22			356,767
	2,000			RR Donnelley & Sons Co.,
				7.250%, 5/15/18			2,270
	50,000			Titan International, Inc., 144a,
				6.875%, 10/1/20			52,125
	6,000			United Rentals North America, Inc.,
				5.750%, 7/15/18			6,412
	27,000			United Rentals North America, Inc.,
				7.375%, 5/15/20			29,936
	100,000			United Rentals North America, Inc.,
				7.625%, 4/15/22			111,125
							2,506,392
				Consumer Staples — 2.5%
	21,000			ARAMARK Corp., 144a,
				5.750%, 3/15/20			21,945
	66,000			BI-LO LLC / BI-LO Finance Corp., 144a,
				9.250%, 2/15/19			72,930
	400,000			CVS Caremark Corp., 2.250%, 12/5/18			399,883
	15,000			Del Monte Corp., 7.625%, 2/15/19			15,581
	88,000			Ingredion, Inc., 4.625%, 11/1/20			91,757
	67,000			JBS USA LLC / JBS USA Finance, Inc.,
				144a, 7.250%, 6/1/21			69,848
	15,000			JBS USA LLC / JBS USA Finance, Inc.,
				144a, 8.250%, 2/1/20			16,275
	515,000			Kraft Foods Group, Inc.,
				6.875%, 1/26/39			627,188
	500,000			Kroger Co. (The), 5.000%, 4/15/42			477,056
	60,000			Post Holdings, Inc., 7.375%, 2/15/22			64,200
	47,000			Post Holdings, Inc., 144a,
				7.375%, 2/15/22			50,290
	73,000			Smithfield Foods, Inc., 6.625%, 8/15/22			77,380
	50,000			Sun Merger Sub, Inc., 144a,
				5.250%, 8/1/18			52,375
	370,000			Wal-Mart Stores, Inc., 6.200%, 4/15/38			444,684
							2,481,392
				Health Care — 2.2%
	22,000			Accellent, Inc., 8.375%, 2/1/17			23,018
	49,000			CHS / Community Health Systems,
				Inc., 7.125%, 7/15/20			50,838
	60,000			HCA, Inc., 5.875%, 3/15/22			61,950
	192,000			HCA, Inc., 5.875%, 5/1/23			189,600
	71,000			HCA, Inc., 6.500%, 2/15/20			78,011
	109,000			Health Management Associates, Inc.,
				7.375%, 1/15/20			121,944
	19,000			Kindred Healthcare, Inc.,
				8.250%, 6/1/19			20,235
	325,000			Medtronic, Inc., 4.450%, 3/15/20			356,173
	37,000			Omnicare, Inc., 7.750%, 6/1/20			40,978
	60,000			Res-Care, Inc., 10.750%, 1/15/19			67,200
	171,000			Select Medical Corp., 6.375%, 6/1/21			167,152
	165,000			Tenet Healthcare Corp., 144a,
				6.000%, 10/1/20			172,219
	600,000			Thermo Fisher Scientific, Inc.,
				2.400%, 2/1/19			594,415
	64,000			Universal Hospital Services, Inc.,
				7.625%, 8/15/20			67,520
	70,000			Valeant Pharmaceuticals International,
				144a, 6.375%, 10/15/20			73,762
	80,000			Valeant Pharmaceuticals International,
				144a, 6.750%, 8/15/18			87,900
	42,000			Valeant Pharmaceuticals International,
				Inc., 144a, 5.625%, 12/1/21			42,210
							2,215,125
				Information Technology — 1.3%
	65,000			Activision Blizzard, Inc., 144a,
				5.625%, 9/15/21			67,275
	325,000			Apple, Inc., 1.000%, 5/3/18			314,258
	27,000			Audatex North America, Inc., 144a,
				6.000%, 6/15/21			28,282
	50,000			Equinix, Inc., 7.000%, 7/15/21			54,625
	100,000			Fidelity National Information Services,
				Inc., 5.000%, 3/15/22			102,125
	5,000			Hughes Satellite Systems Corp.,
				6.500%, 6/15/19			5,412
	91,000			IAC/InterActiveCorp, 144a,
				4.875%, 11/30/18			93,048
	385,000			Oracle Corp., 3.875%, 7/15/20			406,352
	57,000			Seagate HDD Cayman, 6.875%, 5/1/20			61,631
	8,000			Sensata Technologies BV, 144a,
				4.875%, 10/15/23			7,520
	50,000			ViaSat, Inc., 6.875%, 6/15/20			52,875

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

  

Principal						Market
Amount						Value
				Corporate Bonds — 43.6% (Continued)
				Information Technology — (Continued)
$	94,000			Western Union Co. (The),
				5.253%, 4/1/20		$	100,147
							1,293,550
				Total Corporate Bonds		$	43,821,296
				U.S. Government Mortgage-Backed
				Obligations — 25.4%
	97,620			FHLMC, Pool #1B3366,
				5.029%, 3/1/37 (A)			103,132
	249,195			FHLMC, Pool #1H1348,
				2.265%, 10/1/36 (A)			266,892
	989,076			FHLMC, Pool #1Q0339,
				2.718%, 4/1/37 (A)			1,060,120
	55,505			FHLMC, Pool #A12886, 5.000%, 8/1/33			60,302
	68,199			FHLMC, Pool #A13842, 6.000%, 9/1/33			75,388
	30,714			FHLMC, Pool #A21415, 5.000%, 5/1/34			33,260
	78,206			FHLMC, Pool #A35682, 5.000%, 7/1/35			84,559
	33,941			FHLMC, Pool #A36523, 5.000%, 8/1/35			36,616
	303,129			FHLMC, Pool #A46590, 5.000%, 8/1/35			329,392
	91,144			FHLMC, Pool #A56988, 5.500%, 2/1/37			99,336
	405,218			FHLMC, Pool #A96485, 4.500%, 1/1/41			430,252
	1,349,377			FHLMC, Pool #A97897, 4.500%, 4/1/41			1,437,591
	43,927			FHLMC, Pool #C62740, 7.000%, 1/1/32			49,458
	26,044			FHLMC, Pool #C71972, 6.500%, 9/1/32			29,028
	48,093			FHLMC, Pool #C72254, 6.500%, 7/1/32			54,585
	167,306			FHLMC, Pool #C90986, 7.000%, 6/1/26			183,476
	74,051			FHLMC, Pool #G02184, 5.000%, 4/1/36			79,964
	984,356			FHLMC, Pool #G05733,
				5.000%, 11/1/39			1,070,385
	583,520			FHLMC, Pool #J13584,
				3.500%, 11/1/25			610,067
	233,015			FNMA, Pool #255628, 5.500%, 2/1/25			255,860
	72,042			FNMA, Pool #432269, 6.500%, 8/1/28			80,206
	15,386			FNMA, Pool #496848, 6.500%, 6/1/29			17,122
	9,147			FNMA, Pool #535290, 8.000%, 5/1/30			10,654
	30,448			FNMA, Pool #540040, 7.500%, 6/1/28			31,809
	28,995			FNMA, Pool #561741, 7.500%, 1/1/31			33,252
	11,634			FNMA, Pool #569874, 8.000%, 2/1/31			12,547
	12,903			FNMA, Pool #575501, 6.000%, 5/1/17			13,411
	74,561			FNMA, Pool #596500, 6.500%, 7/1/16			77,463
	29,298			FNMA, Pool #626811, 6.500%, 6/1/17			30,758
	103,400			FNMA, Pool #640291, 7.000%, 8/1/32			115,836
	41,839			FNMA, Pool #644869, 7.000%, 6/1/32			44,197
	64,722			FNMA, Pool #653301, 6.500%, 7/1/32			71,864
	136,955			FNMA, Pool #653502, 6.500%, 7/1/32			152,226
	122,553			FNMA, Pool #670402, 6.500%, 6/1/32			139,340
	40,057			FNMA, Pool #690208, 6.500%, 3/1/33			44,550
	92,880			FNMA, Pool #704460, 6.000%, 5/1/18			97,288
	12,159			FNMA, Pool #725906,
				2.383%, 8/1/34 (A)			12,989
	742,856			FNMA, Pool #745257, 6.000%, 1/1/36			826,128
	4,271			FNMA, Pool #745974,
				2.584%, 10/1/36 (A)			4,542
	241,648			FNMA, Pool #810049, 5.500%, 3/1/35			265,413
	522,890			FNMA, Pool #819297, 6.000%, 9/1/35			585,296
	153,355			FNMA, Pool #889060, 6.000%, 1/1/38			169,966
	330,171			FNMA, Pool #889061, 6.000%, 1/1/38			371,077
	127,283			FNMA, Pool #893003, 7.000%, 9/1/36			143,877
	64,642			FNMA, Pool #895657, 6.500%, 8/1/36			69,787
	479,720			FNMA, Pool #905049, 5.500%, 11/1/36			526,560
	852,633			FNMA, Pool #908944, 5.500%, 1/1/37			935,885
	1,078,459			FNMA, Pool #928553, 5.500%, 8/1/37			1,205,715
	60,231			FNMA, Pool #995220, 6.000%, 11/1/23			65,618
	713,982			FNMA, Pool #AA3467, 4.500%, 4/1/39			758,676
	1,105,778			FNMA, Pool #AA4584, 4.500%, 4/1/39			1,174,726
	196,173			FNMA, Pool #AB1800, 4.000%, 11/1/40			202,354
	928,658			FNMA, Pool #AB2452, 4.000%, 3/1/26			988,583
	219,545			FNMA, Pool #AB5989, 2.500%, 8/1/27			218,035
	310,398			FNMA, Pool #AD3775, 4.500%, 3/1/25			336,094
	372,559			FNMA, Pool #AD6193, 5.000%, 6/1/40			406,096
	720,075			FNMA, Pool #AE0996, 4.000%, 2/1/41			742,857
	479,543			FNMA, Pool #AE1568, 4.000%, 9/1/40			493,967
	1,352,361			FNMA, Pool #AE2497, 4.500%, 9/1/40			1,441,378
	327,141			FNMA, Pool #AE5441, 5.000%, 10/1/40			356,865
	788,574			FNMA, Pool #AH1135, 5.000%, 1/1/41			862,463
	1,187,995			FNMA, Pool #AH3483, 3.500%, 2/1/26			1,245,482
	609,513			FNMA, Pool #AH3671, 4.000%, 2/1/26			652,553
	995,349			FNMA, Pool #AH6622, 4.000%, 3/1/41			1,029,287
	70,769			FNMA, Pool #AI0805, 4.500%, 7/1/41			75,015
	1,441,419			FNMA, Pool #AL0150, 4.000%, 2/1/41			1,486,938
	414,560			FNMA, Pool #AL0211, 5.000%, 4/1/41			452,780
	1,540			GNMA, Pool #434792, 8.000%, 7/15/30			1,607
	90,924			GNMA, Pool #5305, 4.000%, 2/20/42			94,662
	26,909			GNMA, Pool #748495, 4.000%, 8/15/40			27,999
	34,779			GNMA, Pool #8503, 1.625%, 9/20/24 (A)			36,127
				Total U.S. Government
				Mortgage-Backed Obligations		$	25,589,583
				U.S. Treasury Obligations — 8.4%
	1,340,000			U.S. Treasury Note, 2.750%, 11/15/23			1,310,897
	7,320,000			United States Treasury Inflation
				Indexed Bonds, 0.375%, 7/15/23			7,085,494
				Total U.S. Treasury Obligations		$	8,396,391
				Asset-Backed Securities — 5.7%
	1,500,000			1st Financial Bank USA, Ser 2010-D,
				Class A, 144a, 3.720%, 6/17/19			1,506,828
	3,754			CIT Group Home Equity Loan Trust,
				Ser 2002-1, Class AF5,
				6.710%, 2/25/33 (B)			3,751
	475,002			Countrywide Asset-Backed
				Certificates, Ser 2007-S1, Class A5,
				6.018%, 11/25/36 (A)			345,132
	88			Equivantage Home Equity Loan Trust,
				Ser 1996-3, Class A3,
				7.700%, 9/25/27			88
	302,655			FHLMC Structured Pass Through
				Securities, Ser T-20, Class A5,
				8.370%, 12/25/29 (B)			350,089

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Asset-Backed Securities — 5.7% (Continued)
$	600,000			First Frankin Mortgage Loan Trust, Ser
				2005-FFA, Class M3,
				6.017%, 3/25/25 (B)		$	490,122
	131,523			FNMA REMIC, Ser 2001-W2, Class AF6,
				6.589%, 10/25/31 (B)			145,670
	2,007,782			Mid-State Capital Corp. Trust, Ser
				2005-1, Class M2, 7.079%, 1/15/40			2,150,595
	676,364			RAMP Trust, Ser 2003-RZ5, Class A7,
				4.970%, 9/25/33 (B)			699,530
	8,728			RASC Trust, Ser 2001-KS3, Class AI6,
				5.960%, 9/25/31 (A)			8,947
				Total Asset-Backed Securities		$	5,700,752
				Commercial Mortgage-Backed Securities — 5.7%
	288,821			Banc of America Commercial
				Mortgage Trust, Ser 2006-2, Class
				A3, 5.706%, 5/10/45 (A)			290,429
	435,000			Banc of America Commercial
				Mortgage Trust, Ser 2006-6, Class
				A3, 5.369%, 10/10/45			444,503
	364,707			Banc of America Commercial
				Mortgage Trust, Ser 2007-2, Class
				AAB, 5.573%, 4/10/49 (A)			382,435
	495,000			FHLMC Multifamily Structured Pass
				Through Certificates, Ser K501 Class
				A2, 1.655%, 11/25/16			501,910
	291,278			First Union Commercial Mortgage
				Trust, Ser 1999-C1, Class F, 144a,
				5.350%, 10/15/35			300,054
	950,000			GMAC Commercial Mortgage
				Securities, Inc., Ser 2005-C1, Class
				A4, 4.619%, 5/10/43			970,034
	220,529			GS Mortgage Securities Corp. II, Ser
				2006-GG8, Class AAB,
				5.535%, 11/10/39			224,118
	275,000			LB-UBS Commercial Mortgage Trust,
				Ser 2005-C7, Class AM,
				5.263%, 11/15/40 (A)††			294,755
	1,675,000			Morgan Stanley Capital I Trust, Ser
				2003-IQ6, Class C, 144a,
				5.617%, 12/15/41 (A)			1,673,695
	150,000			Mortgage Pass Through Certificates,
				Ser 2001-CIB2, Class D,
				6.847%, 4/15/35 (A)			153,400
	174,220			Wachovia Bank Commercial Mortgage
				Trust, Ser 2007-C30, Class APB,
				5.294%, 12/15/43			176,806
	284,495			Wachovia Bank Commercial Mortgage
				Trust, Ser 2007-C34, Class APB,
				5.617%, 5/15/46			291,128
				Total Commercial
				Mortgage-Backed Securities		$	5,703,267
				Non-Agency Collateralized Mortgage
				Obligations — 4.0%
	7,194			Adjustable Rate Mortgage Trust, Ser
				2004-4, Class 3A1,
				2.666%, 3/25/35 (A)			6,786
	849,574			Countrywide Alternative Loan Trust,
				Ser 2004-30CB, Class 3A1,
				5.000%, 2/25/20			870,884
	99,009			Countrywide Alternative Loan Trust,
				Ser 2005-J3, Class 3A1,
				6.500%, 9/25/34			98,942
	206,972			Credit Suisse First Boston Mortgage
				Securities Corp., Ser 2004-7, Class
				6A1, 5.250%, 10/25/19			209,817
	513,733			Deutsche ALT-A Securities, Inc.
				Alternate Loan Trust, Ser 2005-3,
				Class 4A4, 5.250%, 6/25/35			512,332
	253,074			HomeBanc Mortgage Trust, Ser
				2004-1, Class 2M2,
				1.890%, 8/25/29 (A)			48,060
	198,755			JP Morgan Mortgage Trust, Ser
				2005-A1, Class 2A1,
				2.466%, 2/25/35 (A)			198,003
	631,122			JP Morgan Mortgage Trust, Ser
				2005-A2, Class 7CB1,
				3.338%, 4/25/35 (A)			642,302
	110,209			JP Morgan Mortgage Trust, Ser
				2006-A4, Class 2A2,
				2.459%, 6/25/36 (A)			98,234
	112,947			MASTR Alternative Loans Trust, Ser
				2004-7, Class 10A1, 6.000%, 6/25/34			115,884
	70,623			MASTR Asset Securitization Trust
				2003-4, Ser 2003-4, Class 4A2,
				5.500%, 5/25/33			71,845
	320,744			Residential Asset Securitization Trust,
				Ser 2006-A1, Class 1A3,
				6.000%, 4/25/36			264,274
	26,549			Sequoia Mortgage Trust 2011-1, Ser
				2011-1, Class A1, 4.125%, 2/25/41 (A)			26,538
	87,263			Structured Adjustable Rate Mortgage
				Loan Trust, Ser 2005-23, Class 1A3,
				2.737%, 1/25/36 (A)			82,954
	109,056			Structured Asset Securities Corp., Ser
				2004-21XS, Class 2A6B,
				5.150%, 12/25/34 (B)			109,466
	316,851			Structured Asset Securities Corp., Ser
				2005-17, Class 5A1,
				5.500%, 10/25/35			284,883
	243,877			Washington Mutual Alternative
				Mortgage Pass-Through
				Certificates, Ser 2005-9, Class 2A4,
				5.500%, 11/25/35			203,677
	223,726			Wells Fargo Mortgage Backed
				Securities Trust, Ser 2003-G, Class
				A1, 2.490%, 6/25/33 (A)			225,013
				Total Non-Agency Collateralized
				Mortgage Obligations		$	4,069,894

 

   

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Sovereign Government Obligations — 1.5%
$	730,000			Corp. Andina de Fomento, 4.375%,
				6/15/22		$	722,832
	890,000			Province of Ontario Canada, 2.450%,
				6/29/22			823,045
				Total Sovereign Government
				Obligations		$	1,545,877
				Municipal Bonds — 1.5%
				California— 0.2%
	215,000			State of California, Purp 3, UTGO,
				5.950%, 4/1/16			238,050
				Georgia— 0.2%
	205,000			Muni Elec Authority of GA, Build
				America Bonds, 6.655%, 4/1/57			214,204
				Ohio— 0.8%
	850,000			JobsOhio Beverage System, Ser B,
				4.532%, 1/1/35			781,388
				Pennsylvania— 0.3%
	250,000			Pennsylvania State, Build America
				Bonds, Ser 2010-B, UTGO,
				5.850%, 7/15/30			268,945
				Total Municipal Bonds		$	1,502,587
	Shares
				Preferred Stocks — 1.4%
				Financials— 0.6%
	22,133			Public Storage, 0.037%			478,073
	4,794			Realty Income Corp., 0.014%			114,720
							592,793
				Utilities— 0.8%
	8,125			Southern California Edison Co.,
				0.042% (A)			819,609
				Total Preferred Stocks		$	1,412,402
	Principal
	Amount
				Agency Collateralized Mortgage
				Obligations — 0.7%
$	315,486			FNMA, Ser 2004-W15, Class 2AF,
				0.415%, 8/25/44 (A)			312,381
	327,335			FNMA REMIC, Ser 2011-28, Class MA,
				4.500%, 7/25/38			338,967
	19,856			GNMA, Ser 2003-11, Class GJ,
				4.000%, 10/17/29			20,903
				Total Agency Collateralized
				Mortgage Obligations		$	672,251
						Market
Shares						Value
				Investment Fund — 1.5%
	1,535,892			Touchstone Institutional Money
				Market Fund, 0.01%^ Ω		$	1,535,892
				Total Investment Securities —99.4%
				(Cost $98,151,325)		$	99,950,192
				Other Assets in
				Excess of Liabilities — 0.6%			645,038
				Net Assets — 100.0%		$	100,595,230

 

(A)

Variable rate security - Rate reflected is the rate in effect as of December 31, 2013.

  

(B)

Step Bond - A bond that pays an initial interest rate for the first period and then a higher interest rate for the following periods until maturity. The interest rate shown reflects the rate in effect at December 31, 2013.

  

^

Affiliated Fund.

 

††

The issuers and/or sponsors of certain mortgage-backed securities may no longer exist; however, the securities held by the Fund are separate legal entities organized as trusts andpubliclytraded.TheFundreceivesprincipalandinterest payments directly from these trusts.

 

Ω

Represents the 7-day SEC yield as of December 31, 2013.

 

 

Touchstone Core Bond Fund (Unaudited) (Continued)

 

Portfolio Abbreviations:

 

FHLMC - Federal Home Loan Mortgage Corporation

FNMA - Federal National Mortgage Association

GNMA - Government National Mortgage Association

LLC - Limited Liability Company

LP - Limited Partnership

MTN - Medium Term Note

PLC - Public Limited Company

REIT - Real Estate Investment Trust

REMIC - Real Estate Mortgage Investment Conduit

UTGO - Unlimited Tax General Obligation

144a -

This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144A of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2013, these securities were valued at $11,544,341 or 11.5% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.

 

Other Information:

  

The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.

 

			Valuation inputs at Reporting Date:
Description			Level 1				Level 2				Level 3				Total
Corporate Bonds		$	—			$	43,821,296			$	—			$	43,821,296
U.S. Government
Mortgage-Backed
Obligations			—				25,589,583				—				25,589,583
U.S. Treasury
Obligations			—				8,396,391				—				8,396,391
Asset-Backed
Securities			—				5,700,752				—				5,700,752
Commercial
Mortgage-Backed
Securities			—				5,703,267				—				5,703,267
Non-Agency
Collateralized
Mortgage
Obligations			—				4,069,894				—				4,069,894
Sovereign
Government
Obligations			—				1,545,877				—				1,545,877
Municipal Bonds			—				1,502,587				—				1,502,587
Preferred Stocks			1,412,402				—				—				1,412,402
Agency Collateralized
Mortgage
Obligations			—				672,251				—				672,251
Investment Fund			1,535,892				—				—				1,535,892
														$	99,950,192

 

See accompanying Notes to Portfolios of Investments.

 

  

Portfolio of Investments

 

Touchstone High Yield Fund – December 31, 2013 (Unaudited)

 

	Principal						Market
	Amount						Value
				Corporate Bonds— 97.4%
				Consumer Discretionary — 21.7%
$	995,000			Albea Beauty Holdings SA, 144a,
				8.375%, 11/1/19		$	1,034,800
	2,295,000			AMC Networks, Inc., 7.750%, 7/15/21			2,581,875
	921,000			American Airlines 2013-2 Class B Pass
				Through Trust, 144a,
				5.600%, 7/15/20			930,210
	1,580,000			American Axle & Manufacturing, Inc.,
				6.250%, 3/15/21			1,678,750
	758,000			Asbury Automotive Group, Inc.,
				8.375%, 11/15/20			851,802
	765,000			AutoNation, Inc., 5.500%, 2/1/20			821,419
	500,000			Cablevision Systems Corp.,
				8.000%, 4/15/20			558,750
	832,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 5.250%, 9/30/22			776,880
	291,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 5.750%, 1/15/24			274,995
	870,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 6.500%, 4/30/21			893,925
	1,151,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 6.625%, 1/31/22			1,185,530
	1,033,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 7.000%, 1/15/19			1,088,524
	330,000			CCO Holdings LLC / CCO Holdings
				Capital Corp., 144a, 5.250%, 3/15/21			315,150
	3,623,000			Cequel Communications Holdings I
				LLC / Cequel Capital Corp., 144a,
				6.375%, 9/15/20			3,713,575
	585,000			Clear Channel Worldwide Holdings,
				Inc., 6.500%, 11/15/22			597,431
	623,000			Cogeco Cable, Inc. (Canada), 144a,
				4.875%, 5/1/20			601,195
	2,166,000			Delphi Corp., 5.000%, 2/15/23			2,228,272
	1,093,000			DISH DBS Corp., 7.875%, 9/1/19			1,251,485
	339,000			Goodyear Tire & Rubber Co. (The),
				6.500%, 3/1/21			359,340
	2,973,000			Goodyear Tire & Rubber Co. (The),
				8.750%, 8/15/20			3,478,410
	1,995,000			Ingles Markets, Inc., 5.750%, 6/15/23			1,955,100
	1,500,000			Jarden Corp., 7.500%, 1/15/20			1,620,000
	868,000			KB Home, 7.000%, 12/15/21			904,890
	440,000			Lamar Media Corp., 5.875%, 2/1/22			451,000
	45,000			Lamar Media Corp., 7.875%, 4/15/18			47,531
	1,406,000			Libbey Glass, Inc., 6.875%, 5/15/20			1,518,480
	1,238,000			LKQ Corp., 144a, 4.750%, 5/15/23			1,151,340
	2,692,000			Ltd. Brands, Inc., 5.625%, 2/15/22			2,752,570
	2,214,000			Meritage Homes Corp.,
				7.150%, 4/15/20			2,391,120
	3,830,000			MGM Resorts International,
				5.250%, 3/31/20			3,801,275
	653,000			Penske Automotive Group, Inc.,
				5.750%, 10/1/22			667,692
	1,321,000			Quebecor Media, Inc. (Canada),
				5.750%, 1/15/23			1,278,068
	1,670,000			Reynolds Group Issuer, Inc. / Reynolds
				Group Issuer LLC / Reynolds Group
				Issuer Lu, 6.875%, 2/15/21			1,799,425
	400,000			Reynolds Group Issuer, Inc. / Reynolds
				Group Issuer LLC / Reynolds Group
				Issuer Lu, 7.125%, 4/15/19			426,000
	1,254,000			Royal Caribbean Cruises Ltd.,
				5.250%, 11/15/22			1,254,000
	1,878,000			RSI Home Products, Inc., 144a,
				6.875%, 3/1/18			1,967,205
	779,000			Sabre, Inc., 144a, 8.500%, 5/15/19			864,690
	2,716,000			Select Medical Corp., 6.375%, 6/1/21†			2,654,890
	158,000			Service Corp. International/US,
				7.000%, 6/15/17			176,959
	1,485,000			Service Corp. International/US,
				8.000%, 11/15/21			1,704,038
	400,000			Service Corp. International/US, 144a,
				5.375%, 1/15/22			405,000
	170,000			Sinclair Television Group, Inc.,
				5.375%, 4/1/21			167,449
	757,000			Sinclair Television Group, Inc.,
				6.125%, 10/1/22			764,570
	300,000			Sinclair Television Group, Inc., 144a,
				6.375%, 11/1/21			310,500
	1,724,000			Sirius XM Radio, Inc., 144a,
				4.250%, 5/15/20			1,629,180
	1,000,000			Sirius XM Radio, Inc., 144a,
				5.250%, 8/15/22			1,010,000
	378,000			Sirius XM Radio, Inc., 144a,
				5.875%, 10/1/20			385,560
	1,106,000			Stackpole International Intermediate /
				Stackpole International Powder
				(Luxembourg), 144a,
				7.750%, 10/15/21			1,150,240
	1,370,000			Stewart Enterprises, Inc.,
				6.500%, 4/15/19			1,452,200
	2,518,000			StoneMor Partners LP / Cornerstone
				Family Services of WV, 144a,
				7.875%, 6/1/21			2,618,720
	482,000			Suburban Propane Partners LP /
				Suburban Energy Finance Corp.,
				7.500%, 10/1/18			516,945
	461,000			Taylor Morrison Communities, Inc. /
				Monarch Communities Inc., 144a,
				7.750%, 4/15/20			507,100
	1,168,000			Tenneco, Inc., 6.875%, 12/15/20			1,276,040
	862,000			Tenneco, Inc., 7.750%, 8/15/18			922,340
	441,000			Tomkins LLC / Tomkins, Inc.,
				9.000%, 10/1/18			482,895
	1,246,000			TRW Automotive, Inc., 144a,
				4.500%, 3/1/21			1,258,460
	478,000			Valassis Communications, Inc.,
				6.625%, 2/1/21			492,938
	328,000			Virgin Media Secured Finance PLC
				(United Kingdom), 144a,
				5.375%, 4/15/21			328,000

 

  

Touchstone High Yield Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 97.4% (Continued)
				Consumer Discretionary — (Continued)
$	2,597,000			Visteon Corp., 6.750%, 4/15/19		$	2,759,312
							73,046,040
				Energy — 21.7%
	1,350,000			Access Midstream Partners LP / ACMP
				Finance Corp., 4.875%, 5/15/23			1,302,750
	929,000			Access Midstream Partners LP / ACMP
				Finance Corp., 6.125%, 7/15/22			994,030
	1,405,000			Atlas Pipeline Partners LP / Atlas
				Pipeline Finance Corp.,
				6.625%, 10/1/20			1,468,225
	494,000			Atlas Pipeline Partners LP / Atlas
				Pipeline Finance Corp., 144a,
				5.875%, 8/1/23			470,535
	806,000			Basic Energy Services, Inc.,
				7.750%, 2/15/19			842,270
	1,750,000			Basic Energy Services, Inc.,
				7.750%, 10/15/22			1,806,875
	600,000			Berry Petroleum Co., 6.750%, 11/1/20			622,500
	1,970,000			Bill Barrett Corp., 7.000%, 10/15/22			2,043,875
	157,000			Calfrac Holdings LP, 144a,
				7.500%, 12/1/20			160,139
	1,336,000			Carrizo Oil & Gas, Inc., 7.500%, 9/15/20			1,462,920
	1,713,000			Carrizo Oil & Gas, Inc.,
				8.625%, 10/15/18			1,854,322
	645,000			Chesapeake Energy Corp.,
				6.625%, 8/15/20			720,788
	695,000			Chesapeake Energy Corp.,
				6.875%, 11/15/20			785,350
	205,000			Chesapeake Energy Corp.,
				9.500%, 2/15/15			222,169
	324,000			Clayton Williams Energy, Inc.,
				7.750%, 4/1/19†			332,910
	809,000			Clayton Williams Energy, Inc., 144a,
				7.750%, 4/1/19			831,248
	1,050,000			Cloud Peak Energy Resources LLC /
				Cloud Peak Energy Finance Corp.,
				8.500%, 12/15/19			1,139,250
	304,000			CONSOL Energy, Inc., 8.000%, 4/1/17			320,340
	554,000			CONSOL Energy, Inc., 8.250%, 4/1/20			599,705
	1,880,000			Crestwood Midstream Partners LP /
				Crestwood Midstream Finance
				Corp., 144a, 6.125%, 3/1/22			1,927,000
	1,441,000			Denbury Resources, Inc.,
				4.625%, 7/15/23			1,300,502
	2,494,000			Drill Rigs Holdings, Inc., 144a,
				6.500%, 10/1/17			2,693,520
	693,000			Enterprise Products Operating LLC,
				7.000%, 6/1/67 (A)			709,459
	2,479,000			Expro Finance Luxembourg SCA, 144a,
				8.500%, 12/15/16			2,584,358
	808,000			Exterran Holdings, Inc.,
				7.250%, 12/1/18			853,450
	2,218,000			Exterran Partners LP / EXLP Finance
				Corp., 144a, 6.000%, 4/1/21			2,201,365
	776,000			Forest Oil Corp., 7.250%, 6/15/19			755,630
	3,089,000			Genesis Energy LP / Genesis Energy
				Finance Corp., 5.750%, 2/15/21			3,123,751
	175,000			Genesis Energy LP / Genesis Energy
				Finance Corp., 7.875%, 12/15/18			188,562
	1,088,000			Gibson Energy, Inc. (Canada), 144a,
				6.750%, 7/15/21			1,150,560
	1,273,000			Hilcorp Energy I LP / Hilcorp Finance
				Co., 144a, 7.625%, 4/15/21			1,381,205
	1,250,000			Hilcorp Energy I LP / Hilcorp Finance
				Co., 144a, 8.000%, 2/15/20			1,353,125
	912,000			Hornbeck Offshore Services, Inc.,
				5.000%, 3/1/21			893,760
	2,162,000			Key Energy Services, Inc.,
				6.750%, 3/1/21			2,216,050
	4,136,000			Linn Energy LLC / Linn Energy Finance
				Corp., 8.625%, 4/15/20			4,466,880
	2,654,000			MEG Energy Corp. (Canada), 144a,
				6.375%, 1/30/23			2,670,588
	255,000			MEG Energy Corp. (Canada), 144a,
				6.500%, 3/15/21			268,388
	1,227,000			Midcontinent Express Pipeline LLC,
				144a, 6.700%, 9/15/19			1,196,540
	678,000			Newfield Exploration Co.,
				5.625%, 7/1/24			674,610
	896,000			Newfield Exploration Co.,
				6.875%, 2/1/20			959,840
	1,348,000			Oasis Petroleum, Inc., 144a,
				6.875%, 3/15/22			1,428,880
	484,000			Pacific Drilling SA, 144a,
				5.375%, 6/1/20			486,420
	2,152,000			Pacific Drilling V Ltd., 144a,
				7.250%, 12/1/17			2,324,160
	1,207,000			Peabody Energy Corp.,
				6.000%, 11/15/18			1,285,455
	1,849,000			Pioneer Energy Services Corp.,
				9.875%, 3/15/18			1,959,940
	743,000			QEP Resources, Inc., 6.800%, 3/1/20			778,757
	1,474,000			Rockies Express Pipeline LLC, 144a,
				6.000%, 1/15/19			1,363,450
	750,000			Sabine Pass Liquefaction LLC, 144a,
				5.625%, 2/1/21			733,125
	303,000			SandRidge Energy, Inc.,
				7.500%, 2/15/23			307,545
	2,178,000			SandRidge Energy, Inc.,
				8.750%, 1/15/20			2,346,795
	1,308,000			SemGroup LP, 144a, 7.500%, 6/15/21			1,383,210
	1,574,000			SESI LLC, 7.125%, 12/15/21			1,755,010
	1,338,000			Targa Resources Partners LP / Targa
				Resources Partners Finance Corp.,
				6.375%, 8/1/22			1,414,935
	603,000			Tesoro Logistics LP / Tesoro Logistics
				Finance Corp., 144a,
				5.875%, 10/1/20			616,568
	1,475,000			Whiting Petroleum Corp.,
				5.000%, 3/15/19			1,508,188

 

 

Touchstone High Yield Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 97.4% (Continued)
				Energy — (Continued)
$	1,522,000			Whiting Petroleum Corp.,
				5.750%, 3/15/21		$	1,575,270
							72,817,052
				Telecommunication Services — 10.1%
	300,000			CenturyLink, Inc., 5.800%, 3/15/22			296,250
	1,436,000			CenturyLink, Inc., 6.450%, 6/15/21			1,493,440
	702,000			Cincinnati Bell, Inc., 8.375%, 10/15/20			759,915
	1,003,000			Crown Castle International Corp.,
				5.250%, 1/15/23			982,940
	1,610,000			Frontier Communications Corp.,
				8.125%, 10/1/18			1,839,425
	1,585,000			Frontier Communications Corp.,
				8.500%, 4/15/20			1,775,200
	1,250,000			GCI, Inc., 8.625%, 11/15/19			1,328,125
	1,238,000			Intelsat Jackson Holdings SA,
				7.250%, 10/15/20			1,354,062
	500,000			Intelsat Jackson Holdings SA,
				7.500%, 4/1/21			551,250
	776,000			Intelsat Jackson Holdings SA
				(Luxembourg), 144a,
				5.500%, 8/1/23			738,170
	939,000			MetroPCS Wireless, Inc., 144a,
				6.250%, 4/1/21			974,212
	886,000			Softbank Corp., 144a, 4.500%, 4/15/20			863,850
	646,000			Sprint Capital Corp., 6.875%, 11/15/28			608,855
	500,000			Sprint Capital Corp., 6.900%, 5/1/19			546,250
	948,000			Sprint Nextel Corp., 6.000%, 11/15/22			924,300
	445,000			Sprint Nextel Corp., 8.375%, 8/15/17			515,088
	2,000,000			Sprint Nextel Corp., 144a,
				7.000%, 3/1/20			2,230,000
	2,012,000			Sprint Nextel Corp., 144a,
				9.000%, 11/15/18			2,424,460
	592,000			Telecom Italia Capital SA
				(Luxembourg), 6.999%, 6/4/18			655,640
	388,000			T-Mobile USA, Inc., 6.125%, 1/15/22			394,790
	63,000			T-Mobile USA, Inc., 6.464%, 4/28/19			66,938
	3,355,000			T-Mobile USA, Inc., 6.542%, 4/28/20			3,564,688
	177,000			T-Mobile USA, Inc., 6.836%, 4/28/23			183,638
	120,000			T-Mobile USA, Inc., 144a,
				5.250%, 9/1/18			126,299
	1,195,000			UPCB Finance V Ltd., 144a,
				7.250%, 11/15/21			1,296,575
	1,223,000			UPCB Finance VI Ltd., 144a,
				6.875%, 1/15/22			1,299,438
	391,000			Videotron Ltd., 5.000%, 7/15/22			382,202
	1,241,000			West Corp., 7.875%, 1/15/19			1,340,280
	1,246,000			Wind Acquisition Finance SA, 144a,
				7.250%, 2/15/18			1,305,185
	462,000			Wind Acquisition Finance SA, 144a,
				7.250%, 2/15/18			486,255
	2,370,000			Windstream Corp., 7.875%, 11/1/17			2,707,725
							34,015,445
				Industrials — 8.6%
	555,000			ACCO Brands Corp., 6.750%, 4/30/20			548,062
	2,194,000			Alliant Techsystems, Inc., 144a,
				5.250%, 10/1/21			2,199,485
	1,216,000			Amsted Industries, Inc., 144a,
				8.125%, 3/15/18			1,281,360
	90,000			Ardagh Packaging Finance PLC /
				Ardagh MP Holdings USA, Inc.,
				144a, 7.375%, 10/15/17			96,638
	1,255,000			Belden, Inc., 144a, 5.500%, 9/1/22			1,229,900
	1,384,000			Bombardier, Inc., 144a,
				6.125%, 1/15/23			1,373,620
	303,000			Bombardier, Inc., 144a,
				7.750%, 3/15/20			343,905
	902,000			BWAY Holding Co., 10.000%, 6/15/18			978,670
	975,000			Calcipar SA, 144a, 6.875%, 5/1/18			1,033,500
	1,812,000			Case New Holland, Inc.,
				7.875%, 12/1/17			2,138,160
	596,000			Chrysler Group LLC / CG Co.-Issuer,
				Inc., 8.250%, 6/15/21			677,950
	395,000			Constellation Brands, Inc.,
				3.750%, 5/1/21			371,300
	868,000			Constellation Brands, Inc.,
				4.250%, 5/1/23			809,410
	885,551			Continental Airlines 2003-ERJ1 Pass
				Through Trust, Series RJ03,
				7.875%, 7/2/18			954,181
	884,000			DigitalGlobe, Inc., 144a,
				5.250%, 2/1/21			861,900
	994,000			Dynacast International LLC / Dynacast
				Finance, Inc., 9.250%, 7/15/19			1,095,885
	310,000			Gibraltar Industries, Inc.,
				6.250%, 2/1/21			318,525
	1,159,000			Griffon Corp., 7.125%, 4/1/18			1,228,540
	296,000			Iron Mountain, Inc., 8.375%, 8/15/21			318,940
	1,902,000			JB Poindexter & Co., Inc., 144a,
				9.000%, 4/1/22			2,030,385
	1,372,000			JM Huber Corp., 144a,
				9.875%, 11/1/19			1,576,085
	2,388,000			Martin Midstream Partners LP / Martin
				Midstream Finance Corp.,
				7.250%, 2/15/21			2,435,760
	241,000			Nielsen Co. Luxembourg SARL (The)
				(Luxembourg), 144a,
				5.500%, 10/1/21			244,615
	823,000			Nielsen Finance LLC / Nielsen Finance
				Co., 144a, 4.500%, 10/1/20			800,368
	101,000			RR Donnelley & Sons Co.,
				7.250%, 5/15/18			114,635
	1,023,000			Titan International, Inc., 144a,
				6.875%, 10/1/20			1,066,478
	350,000			TransDigm, Inc., 5.500%, 10/15/20			342,125
	221,000			United Rentals North America, Inc.,
				5.750%, 7/15/18			236,194
	1,053,000			United Rentals North America, Inc.,
				7.375%, 5/15/20			1,167,514
	768,000			United Rentals North America, Inc.,
				7.625%, 4/15/22			853,440
							28,727,530

 

 

Touchstone High Yield Fund (Unaudited) (Continued)

  

Principal						Market
Amount						Value
				Corporate Bonds — 97.4% (Continued)
				Health Care — 7.8%
$	1,200,000			Accellent, Inc., 8.375%, 2/1/17		$	1,255,500
	2,454,000			CHS / Community Health Systems,
				Inc., 7.125%, 7/15/20			2,546,025
	200,000			CHS/Community Health Systems, Inc.,
				8.000%, 11/15/19			217,000
	2,430,000			HCA, Inc., 5.875%, 3/15/22			2,508,975
	589,000			HCA, Inc., 5.875%, 5/1/23			581,638
	3,307,000			HCA, Inc., 6.500%, 2/15/20			3,633,566
	2,639,000			Health Management Associates, Inc.,
				7.375%, 1/15/20			2,952,381
	903,000			Kindred Healthcare, Inc.,
				8.250%, 6/1/19			961,695
	878,000			Omnicare, Inc., 7.750%, 6/1/20			972,385
	727,000			ResCare, Inc., 10.750%, 1/15/19			814,240
	403,000			Salix Pharmaceuticals Ltd., 144a,
				6.000%, 1/15/21			413,075
	2,920,000			Tenet Healthcare Corp., 144a,
				6.000%, 10/1/20			3,047,750
	2,374,000			Universal Hospital Services, Inc.,
				7.625%, 8/15/20			2,504,570
	19,000			Valeant Pharmaceuticals International,
				144a, 6.375%, 10/15/20			20,021
	3,413,000			Valeant Pharmaceuticals International,
				144a, 6.750%, 8/15/18			3,750,034
							26,178,855
				Financials — 7.3%
	438,000			Aircastle Ltd., 6.250%, 12/1/19			469,208
	604,000			Ally Financial, Inc., 8.000%, 12/31/18			712,720
	4,274,000			Ally Financial, Inc., 8.000%, 11/1/31			5,086,060
	2,846,000			CIT Group, Inc., 5.000%, 8/15/22			2,774,850
	464,000			Credit Acceptance Corp.,
				9.125%, 2/1/17			487,200
	233,000			International Lease Finance Corp.,
				4.625%, 4/15/21			222,515
	1,244,000			International Lease Finance Corp.,
				5.875%, 8/15/22			1,240,890
	770,000			International Lease Finance Corp.,
				6.250%, 5/15/19			833,525
	3,115,000			MPT Operating Partnership LP / MPT
				Finance Corp., 6.875%, 5/1/21			3,333,050
	795,000			Omega Healthcare Investors, Inc.,
				6.750%, 10/15/22			863,569
	1,000,000			Omega Healthcare Investors, Inc.,
				7.500%, 2/15/20			1,090,000
	862,000			PHH Corp., 6.375%, 8/15/21			862,000
	2,747,000			PHH Corp., 7.375%, 9/1/19			2,932,422
	350,000			SLM Corp. MTN, 5.500%, 1/15/19			363,213
	2,756,000			SLM Corp. MTN, 8.450%, 6/15/18			3,210,740
							24,481,962
				Materials — 6.8%
	1,649,000			Aleris International, Inc.,
				7.625%, 2/15/18			1,743,818
	433,000			Aleris International, Inc.,
				7.875%, 11/1/20			460,062
	1,295,000			ArcelorMittal, 5.750%, 8/5/20			1,375,938
	1,571,000			Barrick Gold Corp. (Canada),
				4.100%, 5/1/23			1,420,013
	2,173,000			Cascades, Inc., 7.875%, 1/15/20			2,325,110
	2,572,000			FMG Resources August 2006 Pty Ltd.,
				144a, 6.875%, 4/1/22			2,803,480
	2,378,000			HudBay Minerals, Inc. (Canada),
				9.500%, 10/1/20			2,443,395
	1,111,000			JMC Steel Group, Inc., 144a,
				8.250%, 3/15/18			1,122,110
	1,408,000			Koppers, Inc., 7.875%, 12/1/19			1,520,640
	968,000			LyondellBasell Industries N.V.
				(Netherlands), 6.000%, 11/15/21			1,113,308
	575,000			Novelis, Inc., 8.375%, 12/15/17			613,812
	1,617,000			PolyOne Corp., 5.250%, 3/15/23			1,576,575
	980,000			Steel Dynamics, Inc., 5.250%, 4/15/23			980,000
	853,000			Tembec Industries, Inc.,
				11.250%, 12/15/18			934,035
	1,432,000			Texas Industries, Inc., 9.250%, 8/15/20			1,594,890
	275,000			United States Steel Corp.,
				7.375%, 4/1/20†			296,312
	529,000			Vulcan Materials Co., 7.500%, 6/15/21			603,060
							22,926,558
				Utilities — 5.0%
	380,000			AES Corp., 7.375%, 7/1/21			428,450
	1,808,000			AES Corp., 8.000%, 10/15/17			2,124,400
	1,066,000			Calpine Corp., 144a, 7.500%, 2/15/21			1,163,272
	409,000			Calpine Corp., 144a, 7.875%, 7/31/20			447,855
	1,528,000			Calpine Corp., 144a, 7.875%, 1/15/23			1,669,340
	699,000			DPL, Inc., 7.250%, 10/15/21			707,738
	500,000			GenOn Energy, Inc., 7.875%, 6/15/17			550,000
	2,450,000			Illinois Power Generating Co.,
				7.000%, 4/15/18†			2,094,750
	1,698,000			InterGen NV (Netherlands), 144a,
				7.000%, 6/30/23			1,757,430
	650,000			NGL Energy Partners LP / NGL Energy
				Finance Corp., 144a,
				6.875%, 10/15/21			666,250
	2,182,000			NRG Energy, Inc., 7.875%, 5/15/21			2,416,565
	2,762,000			Sabine Pass LNG LP, 6.500%, 11/1/20			2,865,575
							16,891,625
				Consumer Staples — 4.6%
	747,000			ARAMARK Corp., 144a,
				5.750%, 3/15/20			780,615
	1,299,000			Barry Callebaut Services N.V., 144a,
				5.500%, 6/15/23			1,324,980
	2,488,000			BI-LO LLC / BI-LO Finance Corp., 144a,
				9.250%, 2/15/19			2,749,240
	1,443,000			Del Monte Corp., 7.625%, 2/15/19			1,498,916
	2,898,000			JBS USA LLC / JBS USA Finance, Inc.,
				144a, 7.250%, 6/1/21			3,021,165
	615,000			JBS USA LLC / JBS USA Finance, Inc.,
				144a, 8.250%, 2/1/20			667,275
	2,537,000			Post Holdings, Inc., 7.375%, 2/15/22			2,714,590

 

 

Touchstone High Yield Fund (Unaudited) (Continued)

 

Principal						Market
Amount						Value
				Corporate Bonds — 97.4% (Continued)
				Consumer Staples — (Continued)
$	2,510,000			Smithfield Foods, Inc., 6.625%, 8/15/22		$	2,660,600
							15,417,381
				Information Technology — 3.8%
	1,395,000			Activision Blizzard, Inc., 144a,
				5.625%, 9/15/21			1,443,825
	564,000			Audatex North America, Inc., 144a,
				6.000%, 6/15/21			590,790
	321,000			Equinix, Inc., 4.875%, 4/1/20			319,395
	962,000			Equinix, Inc., 5.375%, 4/1/23			940,355
	1,150,000			Equinix, Inc., 7.000%, 7/15/21			1,256,375
	1,667,000			Fidelity National Information Services,
				Inc., 5.000%, 3/15/22			1,702,424
	244,000			Hughes Satellite Systems Corp.,
				6.500%, 6/15/19			264,130
	3,107,000			Seagate HDD Cayman, 6.875%, 5/1/20			3,359,444
	294,000			Sensata Technologies BV
				(Netherlands), 144a,
				4.875%, 10/15/23			276,360
	2,293,000			ViaSat, Inc., 6.875%, 6/15/20			2,424,848
							12,577,946
				Total Corporate Bonds		$	327,080,394
	Shares
				Preferred Stock — 0.0%
				Financials— 0.0%
	1			Ally Financial, Inc., 0.046%			25
				Investment Funds — 2.4%
	4,300,343			Invesco Government & Agency
				Portfolio, Institutional Class,
				0.03%** Ω			4,300,343
	3,875,563			Touchstone Institutional Money
				Market Fund, 0.01%^ Ω			3,875,563
				Total Investment Funds		$	8,175,906
				Total Investment Securities —99.8%
				(Cost $326,570,113)		$	335,256,325
				Other Assets in
				Excess of Liabilities — 0.2%			728,081
				Net Assets — 100.0%		$	335,984,406

 

(A)

Variable rate security - Rate reflected is the rate in effect as of December 31, 2013.

 

**

Represents collateral for securities loaned.

 

^

Affiliated Fund.

  

†

All or a portion of the security is on loan. The total market value of the securities on loan as of December 31, 2013 was $4,161,048.

 

Ω

Represents the 7-day SEC yield as of December 31, 2013.

  

Portfolio Abbreviations:

  

LLC - Limited Liability Company

 

LP - Limited Partnership

 

MTN -Medium Term Note

 

144a -

This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144A of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2013, these securities were valued at $101,002,859 or 30.1% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.

  

Other Information:

  

The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.

 

				Valuation inputs at Reporting Date:
Description				Level 1				Level 2				Level 3				Total
Corporate
Bonds			$	—			$	327,080,394			$	—			$	327,080,394
Preferred
Stock				25				—				—				25
Investment
Funds				8,175,906				—				—				8,175,906
															$	335,256,325

 

See accompanying Notes to Portfolios of Investments.

 

 

Portfolio of Investments

 

Touchstone Institutional Money Market Fund – December 31, 2013 (Unaudited)

 

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Variable Rate Demand Notes (A) — 45.9%
$	300,000			Burgess & Niple Ltd.			0.290	%			09/01/14			$	300,000
	1,700,000			Lincoln Co WY Poll Control Rev (Fltg Rate Dates Exxon Proj) Ser 1984 A			0.010				11/01/14				1,700,000
	1,300,000			Lincoln Co WY Poll Control Rev (Fltg Rate Dates Exxon Proj) Ser 1984 C			0.010				11/01/14				1,300,000
	900,000			Lincoln Co WY Poll Control Rev (Fltg Rate Dates Exxon Proj) Ser 1984 D			0.010				11/01/14				900,000
	800,000			Douglas Co GA Dev Auth Pandosia LLC Ser 2007 B (LOC: Wells Fargo Bank NA)			0.220				12/01/14				800,000
	610,000			Kenwood Lincoln-Mercury			0.247				05/01/15				610,000
	285,000			New Belgium Brewing Co., Inc.			0.220				07/01/15				285,000
	785,000			CA St Infrastructure & Saddleback Vy Ser 2010 (LOC: East West Bank, FHLMC)			0.290				12/01/15				785,000
	650,000			Kenwood Country Club			0.180				12/01/15				650,000
	470,000			SC St Jobs-Econ DE Woodhead LLC Ser 2010 B (LOC: FHLB)			0.360				03/01/16				470,000
	810,000			Jefferson Land Development Ltd. US Domestic Ser 1997			0.290				10/01/16				810,000
	15,600,000			Jackson Co MS Poll Control R Ref Chevron U.S.A. Inc Pj Ser 2008			0.020				12/01/16				15,600,000
	1,400,000			Orange City IA IDR (Vogel Enterprises Limited) Ser 2002 (LOC: U.S. Bank NA)			0.140				04/01/17				1,400,000
	1,145,000			Hamilton Co OH Hosp Facs Rev Childrens Hosp Med Ctr A Ser 1997
				(LOC: PNC Bank NA)			0.050				05/15/17				1,145,000
	500,000			Upper IL River Vly Dev Auth Ser 2003 B (LOC: Lasalle Bank NA)			0.470				06/01/17				500,000
	2,655,000			Team Rahal of Pittsburgh 144a			0.190				11/01/17				2,655,000
	1,825,000			Yuengling Beer Co., Inc.			0.250				11/01/19				1,825,000
	1,535,000			WA MO IDA Dev Pauwels Ser 1999 (LOC: HSBC Bank USA NA)			0.490				12/01/19				1,535,000
	906,000			Hopewell Development Co.			0.190				03/01/20				906,000
	3,820,000			Crystal Clinic			0.170				04/01/20				3,820,000
	1,480,000			Secor Realty, Inc.			0.170				04/01/20				1,480,000
	3,100,000			D.G.Y. Real Estate LP			0.250				05/01/20				3,100,000
	1,360,000			Auburn ME Rev J & A Properties Ser 2001 (LOC: TD Bank NA)			0.170				01/01/21				1,360,000
	5,000,000			Chicago IL Midway Arpt Rev 2nd Lien Ser 2011 A 1 (LOC: Bank of Montreal)			0.090				01/01/21				5,000,000
	1,110,000			QC Reprographics LLC			0.330				02/28/21				1,110,000
	2,309,000			CHS Properties, Inc. Ser 2006			0.160				06/01/21				2,309,000
	710,000			WA St HFC Brittany Pk Ser 1996 B (LIQ: FNMA)			0.180				11/01/21				710,000
	2,860,000			Crozer-Keystone Health System			0.270				12/15/21				2,860,000
	1,656,000			Progress Industrial Properties, Inc.			0.170				01/01/22				1,656,000
	1,510,000			Odenton Baptist Church			0.320				07/01/22				1,510,000
	3,700,000			Mason City Clinic PC			0.220				09/01/22				3,700,000
	4,500,000			Penco Products, Inc. 144a			0.180				09/01/22				4,500,000
	855,000			Taylor Station Surgical Center Ltd. US Domestic Ser 2002			0.190				12/01/22				855,000
	1,840,500			Campus Research Corp. Ser A			0.170				06/01/23				1,840,500
	960,000			Forest WI IDR (Baker Cheese Factory Proj) Ser 2003 (LOC: U.S. Bank NA)			0.260				09/01/23				960,000
	5,360,000			Mountain Agency, Inc. (The)			0.340				12/01/23				5,360,000
	1,000,000			Dayton Wheel Concepts, Inc.			0.170				05/01/24				1,000,000
	700,000			Butler Co OH Hlthcare Facs R Adj (Colonial Sr Svcs Inc Proj) Ser 2004
				(LOC: U.S. Bank NA)			0.060				07/01/24				700,000
	3,260,000			First Church of Christ Christian, Inc. Ser 06-A			0.330				04/01/26				3,260,000
	2,320,000			First Church of Christ Christian, Inc. Ser 06-B			0.330				04/01/26				2,320,000
	2,000,000			Winnebago Co IL IDR Seward Screw Prods Pj Ser 2001
				(LOC: Alpine Bank & Trust Co)			0.190				04/01/26				2,000,000
	1,140,000			Heart Property LLC Project			0.190				07/01/26				1,140,000
	750,000			Mequon WI IDR (Gateway Plastics) Ser 2001 B (LOC: Bank One Wisconsin)			0.220				08/01/26				750,000
	2,320,000			Miarko, Inc.			0.170				02/01/27				2,320,000
	495,000			CA St Statewide CDA Oakmont Stockton C T Rmk Ser 1997 (LOC: FHLB)			0.290				05/01/27				495,000
	6,335,000			Blue Hen Hotel LLC			0.180				09/01/27				6,335,000
	3,200,000			Jungs Station Associates			0.220				09/01/27				3,200,000
	3,135,000			Tarrant Co TX Indl Dev Corp. (Mortex Prods Inc Proj) Ser 1998
				(LOC: JP Morgan Chase & Co)			0.210				09/01/27				3,135,000

 

  

Touchstone Institutional Money Market Fund (Unaudited) (Continued)

  

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Variable Rate Demand Notes (A) — 45.9% (Continued)
$	1,650,000			Saint Paul's Episcopal Church Ser 2008 (LOC: JP Morgan Chase Bank NA)			0.160	%			07/01/28			$	1,650,000
	13,190,000			Kansas City MO (Blue Ridge Mall) Ser 2005 (LOC: BMO Harris Bank NA)			0.160				11/01/28				13,190,000
	1,600,000			Jacksonville FL Edl Facs Rev (Edward Waters College Proj) Ser 2004
				(LOC: Wells Fargo Bank NA)			0.160				12/01/29				1,600,000
	9,060,000			TP Racing LLLP			0.247				06/01/30				9,060,000
	3,315,000			MS St Business Fin Co (Chevron Usa Inc Proj) Ser C Ser 2010			0.020				12/01/30				3,315,000
	1,500,000			Montgomery Co PA Redev Auth Forge Gate Apts Ser 2001 A T1 (LIQ: FNMA)			0.180				08/15/31				1,500,000
	2,000,000			Allen Co OH Hosp Facs Rev (Catholic Healthcare) Ser 2008 A
				(LOC: Bank of America NA)			0.030				10/01/31				2,000,000
	1,900,000			Sheboygan Falls WI Indl Rev Adj Dev, Inc. Project Ser 2007 B (LOC: U.S. Bank NA)			0.300				01/01/32				1,900,000
	1,450,000			486 Lesser Street LLC			0.130				02/01/32				1,450,000
	1,475,000			KS St Dev Fin Auth Rev (Indl Dlr Bldg Proj) Ser 2002 O (LOC: Great Western Bank)			0.190				09/01/32				1,475,000
	705,000			Abag CA Fin Auth For Nonprofit Housing Gaia Bldg Ser 2000 A-T (LIQ: FNMA)			0.150				09/15/32				705,000
	100,000			OH St Air Quality Dev Auth Ref Poll Control Ser 2008 (LOC: Bank of Nova Scotia)			0.030				11/01/32				100,000
	12,300,000			Andrew W Mellon Foundation Ser 2008			0.100				12/01/32				12,300,000
	8,250,000			TMF Biofuels LLC			0.170				12/01/32				8,250,000
	10,525,000			Lexington Financial Services LLC			0.140				01/01/33				10,525,000
	2,660,000			Young Men's Christian Association of Metropolitan Milwaukee, Inc. (The)			0.247				05/01/33				2,660,000
	8,000,000			Raleigh NC Cops Certificate Participation Ser 2008 (LOC: Wachovia Bank NA)			0.170				08/01/33				8,000,000
	4,225,000			First Christian Church Of Florissant			0.160				01/01/34				4,225,000
	1,000,000			French Lick IN EDR Town Green Place Ser A (LOC: PNC Bank NA)			0.190				01/01/34				1,000,000
	12,340,000			Allen Co OH Hosp Facs Rev (Catholic Healthcare) Ser 2010 C
				(LOC: Union Bank NA)			0.020				06/01/34				12,340,000
	4,935,000			Lee Family Partnership LLC			0.190				07/01/34				4,935,000
	2,850,000			Gables of Germantown LLC (The)			0.410				04/01/35				2,850,000
	10,200,000			East Baton Rouge Parish LA IDB (Exxonmobil Proj) Ser 2010 A			0.010				08/01/35				10,200,000
	4,400,000			MS St Business Fin Co (Chevron USA Inc) Ser 2010 I			0.020				11/01/35				4,400,000
	1,100,000			MS St Business Fin Co (Chevron USA Inc) Ser 2010 L			0.020				11/01/35				1,100,000
	2,550,000			MS St Business Fin Co (Chevron Usa Inc) Ser J Ser 2010			0.020				11/01/35				2,550,000
	1,710,000			Southwestern IL Dev Auth (Mattingly Lumber) Ser 2005 B
				(LOC: First Bank, FHLMC)			0.230				12/01/35				1,710,000
	1,625,000			JJB Properties LLC (Rental Property) Ser 2006 (LOC: Arvest Bank, FHLMC)			0.150				01/01/36				1,625,000
	940,000			Springside Corp. Exchange Partners I LLC			0.170				02/01/36				940,000
	3,470,000			Manhattan Christian College, Inc.			0.200				05/01/36				3,470,000
	2,340,000			Southwestern OH Water Co. (The)			0.170				05/01/36				2,340,000
	3,582,000			Mill Street Village LLC			0.380				01/01/37				3,582,000
	5,595,000			Harvest Time Tabernacle, Inc.			0.200				08/01/37				5,595,000
	1,000,000			BJ Financing LLC			0.160				12/01/37				1,000,000
	1,800,000			Grace Evangelical Lutheran Church			0.200				02/01/38				1,800,000
	1,660,000			Pickerington Church of the Nazarene			0.200				07/01/38				1,660,000
	600,000			CO St Edl & Cultural Northwestern Ser 2008 B (LOC: BMO Harris Bank NA)			0.190				08/01/38				600,000
	6,600,000			Chatom AL IDB Powersouth Energy Coop Ser 2011 A
				(SPA: National Rural Utilities Finance)			0.600				11/15/38				6,600,000
	4,500,000			OH St Hgr Edl Fac Comm (Hosp Cleveland Clinic Hlth Sys) Ser 2013
				(LIQ: Bank of NY Mellon Trust)			0.040				01/01/39				4,500,000
	3,090,000			Orthopedic Hospital of Wisconsin LLC (LOC: BMO)			0.150				03/01/39				3,090,000
	2,380,000			New York HFA (West 37Th Street) Ser 2008 (LIQ: FHLMC)			0.100				05/01/42				2,380,000
	1,820,000			Corporate Finance Managers, Inc. Ser B			0.170				02/02/43				1,820,000
	2,000,000			Blue Mountain Enterprises LLC Ser 2013			0.247				09/01/43				2,000,000
	1,390,000			Boldt Healthcare Properties LLC			0.160				10/01/43				1,390,000
	4,045,000			Schreiber Capital Co. LLC Ser 2006			0.170				04/01/46				4,045,000
	3,190,000			Helmholdt Capital LLC Ser 2007			0.220				04/01/47				3,190,000

 

  

Touchstone Institutional Money Market Fund (Unaudited) (Continued)

 

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Variable Rate Demand Notes (A) — 45.9% (Continued)
$	10,000,000			Monroe Co GA Dev Auth Poll Control Rev (GA Pwr Co Scherer Proj) Ser 2008			0.060	%			11/01/48			$	10,000,000
	1,768,000			E Baton Rouge Parish LA (Exxonmobil Proj Gulf) Ser 2011 D			0.010				12/01/51				1,768,000
	10,040,000			OSL Santa Rosa Fountaingrove LLC Ser 2012			0.160				02/01/52				10,040,000
	1,500,000			KDF Claremont LP Ser 2013			0.160				04/01/53				1,500,000
	1,120,000			AM Investment Partners LLC MI			0.200				06/01/56				1,120,000
				Total Variable Rate Demand Notes										$	304,006,500
				Corporate Bonds— 17.7%
	1,300,000			Cooperatieve Centrale Raiffeisen-Boerenleenbank			1.850				01/10/14				1,300,414
	8,100,000			Royal Bank of Canada			1.125				01/15/14				8,102,451
	5,000,000			HSBC Bank PLC 144a (B)			1.044				01/17/14				5,001,798
	426,000			JPMorgan Chase & Co.			0.180				01/21/14				425,960
	6,000,000			JPMorgan Chase & Co. MTN (B)			1.038				01/24/14				6,002,756
	6,900,000			JPMorgan Chase & Co. MTN			2.050				01/24/14				6,907,123
	500,000			UBS AG			2.250				01/28/14				500,662
	7,610,000			Bank of New York Mellon Corp. (The) MTN			1.500				01/31/14				7,617,843
	1,905,000			Caterpillar Financial Services Corp. MTN			6.125				02/17/14				1,918,678
	9,750,000			Toyota Motor Credit Corp. MTN (B)			0.238				02/24/14				9,750,000
	3,838,000			National Rural Utilities Cooperative Finance Corp.			4.750				03/01/14				3,864,673
	700,000			EI du Pont de Nemours & Co.			1.750				03/25/14				702,406
	706,000			Wal-Mart Stores, Inc.			1.625				04/15/14				708,762
	2,150,000			Bank of Montreal MTN			1.750				04/29/14				2,159,586
	800,000			EI du Pont de Nemours & Co.			4.875				04/30/14				811,610
	10,954,000			Credit Suisse			5.500				05/01/14				11,138,046
	3,650,000			Northern Trust Corp.			4.625				05/01/14				3,702,307
	12,300,000			Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands 144a			4.200				05/13/14				12,473,794
	2,525,000			General Electric Capital Corp.			5.900				05/13/14				2,575,504
	2,611,000			Bank of New York Mellon Corp. (The) MTN			4.300				05/15/14				2,649,098
	14,418,000			US BanCorp			4.200				05/15/14				14,626,485
	1,000,000			Caterpillar Financial Services Corp. MTN			1.375				05/20/14				1,004,371
	1,000,000			Caterpillar, Inc.			1.375				05/27/14				1,004,415
	1,000,000			JPMorgan Chase & Co.			4.650				06/01/14				1,017,686
	3,200,000			Toronto-Dominion Bank (The)			1.375				07/14/14				3,218,672
	7,575,000			Procter & Gamble Co. (The)			4.950				08/15/14				7,794,658
	500,000			General Electric Capital Corp.			4.750				09/15/14				515,573
				Total Corporate Bonds										$	117,495,331
				Municipal Bonds— 6.7%
	3,000,000			IN St Bond Bank Rev Txbl Ref Sch Severance Funding Ser 2013			0.150				01/15/14				3,000,000
	795,000			Merrillville IN Multi Sch Bldg Txbl Ref 1St Mtge B Ser 2013			0.370				01/15/14				795,000
	1,400,000			Mason OH EDR (Al Neyer Inc Proj) UTGO			1.500				01/29/14				1,400,512
	2,700,000			Wichita KS Temp Nts UTGO			0.550				02/11/14				2,700,000
	3,015,000			Miami Twp OH Montgomery Co LTGO Ser 2013			1.500				02/13/14				3,017,909
	3,900,000			Franklin Co OH (Spl Oblg) BANS (Stadium Fac Proj) Ser 2013			0.800				03/07/14				3,902,038
	3,600,000			Fishers Redev Auth Lease Rev BANS Ser 2013			0.750				04/12/14				3,600,000
	1,500,000			Bryan OH CSD BANS Sch Impt UTGO Ser 2013			1.625				04/22/14				1,504,410
	1,750,000			Riverside OH Rev BANS Ser 2013			1.250				04/24/14				1,752,660
	4,000,000			Hamilton IN S Estrn Consol Sch BANS Revenue Notes Ser 2013			2.000				06/15/14				4,025,060
	1,000,000			Manchester CT BANS UTGO Ser 2013			1.000				07/03/14				1,001,233
	1,000,000			IN St Bond Bank Rev Txbl Ref Sch Severance Funding Ser 2013			0.279				07/15/14				1,000,000
	885,000			New Albany OH Txbl BANS Rev Notes Ser 2013			1.375				07/31/14				889,289
	4,100,000			IL St Fin Auth Rev Northwestern Mem Hosp Ser 2004 A Pre-refunded @ $100			5.500				08/15/14				4,229,749

 

 

 

Touchstone Institutional Money Market Fund (Unaudited) (Continued)

 

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Municipal Bonds — 6.7% (Continued)
$	2,600,000			Center Grove Multi-Fac Sch Bld BANS Revenue Notes Ser 2013			0.500	%			09/15/14			$	2,600,000
	3,080,000			American Muni Pwr-Ohio, Inc. OH BANS Ser 2013			1.000				10/23/14				3,084,975
	5,750,000			MS St Business Fin Co Coast Elec Pwr Assn C Rmkt Ser 2013
				(SPA: Natl Rural Util Coop Fin)			0.400				05/01/37				5,750,000
				Total Municipal Bonds										$	44,252,835
				U.S. Government Agency Obligations— 16.2%
	50,000,000			Farmer Mac#			0.010				01/02/14				50,000,000
	2,745,690			Overseas Private Investment Corp. (A)(B)			0.061				03/15/17				2,745,690
	3,500,000			Overseas Private Investment Corp. (A)(B)			0.061				10/20/17				3,500,000
	5,250,000			Overseas Private Investment Corp. (A)(B)			0.061				03/15/19				5,250,000
	2,580,000			Overseas Private Investment Corp. (A)(B)			0.061				12/15/19				2,580,000
	10,451,200			Overseas Private Investment Corp. (A)(B)			0.061				01/15/21				10,451,200
	7,270,400			Overseas Private Investment Corp. (A)(B)			0.061				01/15/21				7,270,400
	1,130,000			Overseas Private Investment Corp. (A)(B)			0.061				01/15/21				1,130,000
	5,754,386			Overseas Private Investment Corp. (A)(B)			0.061				03/15/24				5,754,386
	1,798,246			Overseas Private Investment Corp. (A)(B)			0.061				03/15/24				1,798,246
	7,368,415			Overseas Private Investment Corp. (A)(B)			0.061				06/15/24				7,368,415
	4,900,000			Overseas Private Investment Corp. (A)(B)			0.061				06/15/34				4,900,000
	4,500,000			Overseas Private Investment Corp. (A)(B)			0.061				06/15/34				4,500,000
				Total U.S. Government Agency Obligations										$	107,248,337
				Certificates of Deposit— 5.3%
	12,500,000			Bank of Nova Scotia/Houston (B)			0.180				02/25/14				12,499,959
	10,500,000			Canadian Imperial Bank of Commerce/New York NY (B)			0.251				03/05/14				10,501,466
	6,300,000			Bank of Tokyo-Mit UFJ Ltd/New York NY (B)			0.842				03/07/14				6,304,451
	6,200,000			Canadian Imperial Bank of Commerce/New York NY (B)			0.275				03/21/14				6,200,000
				Total Certificates of Deposit										$	35,505,876
				Commercial Paper— 3.0%
	20,000,000			Bank of Tokyo-Mit UFJ CP			0.110				01/06/14				19,999,756
				Repurchase Agreement— 5.0%
	33,200,000			BMO Capital, 0.01%, dated 12/31/13, matures on 01/01/14, repurchase price
				$33,200,009 (collateralized by various U.S. Treasury Notes, ranging in par value
				from $100,000 - $1,200,000, 0.000% - 9.125%, 01/15/14 - 05/15/43,    total market value $33,684,092)			1.000				01/01/14				33,200,000
				Total Investment Securities —99.8%
				(Cost $661,708,635)										$	661,708,635
				Other Assets in Excess of Liabilities — 0.2%											1,013,401
				Net Assets — 100.0%										$	662,722,036

 

(A)

Demand Feature - Maturities shown are the final maturities, not the date on which principal could be recovered through the demand feature.

 

(B)

Variable rate security - Rate reflected is the rate in effect as of December 31, 2013.

 

#

Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase.

 

 

Touchstone Institutional Money Market Fund (Unaudited) (Continued)

 

Portfolio Abbreviations:

 

BANS - Bond Anticipation Notes

  

CDA - Communities Development Authority

 

EDR - Economic Development Revenue

 

FHLB - Federal Home Loan Bank

 

FHLMC - Federal Home Loan Mortgage Corp.

 

FNMA - Federal National Mortgage Association

 

HFA - Housing Finance Agency

 

HFC - Housing Finance Corp.

 

IDA - Industrial Development Authority/Agency

 

IDB - Industrial Development Board

 

IDR - Industrial Development Revenue

 

LLC - Limited Liability Company

 

LIQ - Liquidity Facility

 

LOC - Letter of Credit

 

LTGO - Limited Tax General Obligation

 

MTN - Medium Term Note

 

SPA - Stand-by Purchase Agreement

 

UTGO - Unlimited Tax General Obligation

 

144a -

This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144A of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2013, these securities were valued at $24,630,592 or 3.7% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.

  

Other Information:

  

The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.

 

 

Touchstone Institutional Money Market Fund (Unaudited) (Continued)

 

			Valuation inputs at Reporting Date:
Description			Level 1				Level 2				Level 3				Total
Variable Rate Demand Notes		$	—			$	304,006,500			$	—			$	304,006,500
Corporate Bonds			—				117,495,331				—				117,495,331
U.S. Government Agency Obligations			—				107,248,337				—				107,248,337
Municipal Bonds			—				44,252,835				—				44,252,835
Certificates of Deposit			—				35,505,876				—				35,505,876
Commercial Paper			—				19,999,756				—				19,999,756
Repurchase Agreement			—				33,200,000				—				33,200,000
														$	661,708,635

 

See accompanying Notes to Portfolios of Investments.

  

  

Portfolio of Investments

 

Touchstone Money Market Fund – December 31, 2013 (Unaudited)

 

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Variable Rate Demand Notes (A) — 53.4%
$	1,970,000			Lincoln Co WY Poll Control Rev (Fltg Rate Dates Exxon Proj D) Ser 1984			0.010	%			11/01/14			$	1,970,000
	600,000			Pittsburgh Technical Institute US Domestic Ser 1999			0.170				10/01/15				600,000
	4,400,000			Pitkin Co CO IDR Aspen Skiing Co Proj Ser A (LOC: JP Morgan Chase Bank NA)			0.040				04/01/16				4,400,000
	100,000			Berks Co PA IDA Lebanon Vy Mall Ser 1996 B (LOC: First Union National Bank)			0.220				07/01/16				100,000
	125,000			Tom Richards, Inc. US Domestic Ser 2001			0.170				12/01/16				125,000
	580,000			Team Rahal of Pittsburgh Priv Placement Ser 2002 144a			0.190				11/01/17				580,000
	1,190,000			Plymouth WI IDR (Wis Plastic Prods Inc Proj) Ser 1998 (LOC: Bank First National)			0.150				05/01/18				1,190,000
	100,000			Dublin Building LLC US Domestic Ser 1997			0.290				11/01/18				100,000
	1,305,000			Livingston Co NY IDA Ref Red/Nicholas Ser 2007 B (LOC: HSBC Bank USA NA)			0.170				07/01/19				1,305,000
	205,000			NY City NY IDA Institute For Cmnt Ser 2010 (LOC: JP Morgan Chase Bank NA)			0.367				11/01/19				205,000
	1,595,000			St Ann's Medical Office Building II LP US Domestic Ser 1998			0.190				11/01/19				1,595,000
	1,075,000			Yuengling Beer Co., Inc. Priv Placement Ser 1999			0.250				11/01/19				1,075,000
	1,275,000			CMW Real Estate LLC US Domestic Ser 2000			0.180				06/01/20				1,275,000
	650,000			Stonehedge Enterprises, Inc. US Domestic Ser 2000			0.190				01/04/21				650,000
	275,000			WA St Hsg Fin Commission Brittany Pk Ser 1998 B (LIQ: FNMA)			0.160				11/01/21				275,000
	1,124,000			Progress Industrial Properties, Inc. US Domestic Ser 2002			0.170				01/01/22				1,124,000
	2,800,000			East Baton Rouge Parish LA (Exxon Proj) Ser 1993			0.010				03/01/22				2,800,000
	800,000			Mason City Clinic PC US Domestic Ser 1992			0.220				09/01/22				800,000
	300,000			Rise, Inc. Mesa AZ US Domestic Ser 2002			0.220				11/01/22				300,000
	3,110,100			Campus Research Corp. US Domestic Ser 2002			0.170				06/01/23				3,110,100
	640,000			Dick Masheter Ford, Inc. US Domestic Ser 2003			0.190				07/01/23				640,000
	317,000			WAI Enterprises LLC Ser 2004			0.330				06/01/24				317,000
	439,000			Fitch Denny Funeral Home, Inc. Ser 2004			0.380				09/01/24				439,000
	1,765,000			St James Properties Ltd. Priv Placement Ser 2004			0.330				12/01/24				1,765,000
	240,000			NY City NY IDA N Y Congregational Ser 2006 B (LOC: HSBC Bank USA NA)			1.380				02/01/25				240,000
	1,685,000			Diaz-Upton LLC Ser 2004			0.220				05/01/26				1,685,000
	700,000			Mequon WI IDR (Gateway Plastics) Ser 2001 B (LOC: Bank One Wisconsin)			0.220				08/01/26				700,000
	3,950,000			Jeff Wyler Automotive Family, Inc. Priv Placement Ser 2006			0.330				01/04/27				3,950,000
	2,480,000			Chelwood LP Ser 2013			0.160				03/20/27				2,480,000
	695,000			Bayloff Properties LLC US Domestic Ser 1998			0.290				04/01/28				695,000
	1,805,000			VT St Edl & Hlth Bldg (Brattleboro Mem Hosp Proj) Ser 2008 A
				(LOC: TD Banknorth NA)			0.020				10/01/28				1,805,000
	7,555,000			KS City MO Tax Incr Rev Blue Ridge Mall Tax Allocation Ser 2005
				(LOC: BMO Harris Bank NA)			0.160				11/01/28				7,555,000
	2,927,000			M&P Richfield LLC Ser 2001			0.170				11/01/28				2,927,000
	730,000			CA St Infrastructure & Studio Moulding Ser 2001 B (LOC: Comerica Bank)			0.367				12/01/28				730,000
	1,160,000			Tennis For Charity, Inc. OH Ser 2004 (LOC: JP Morgan Chase Bank NA)			0.120				12/01/29				1,160,000
	5,200,000			Flamingo Enterprises, Inc. US Domestic Ser 2008			0.270				05/01/30				5,200,000
	2,240,000			TP Racing LLLP US Domestic Ser 2000			0.180				06/01/30				2,240,000
	810,000			Alameda Co CA IDA Plastikon Inds B Ser 2013 (LOC: Comerica Bank)			0.210				07/01/30				810,000
	500,000			MS St Business Fin Co Chevron Usa Inc Pj Ser G Ser 2009			0.020				12/01/30				500,000
	1,445,000			Montgomery Co PA Redev Auth Kingswood Apts Pj A T1 Ser 2001 (LIQ: FNMA)			0.160				08/15/31				1,445,000
	200,000			Allen Co OH Hosp Facs Rev Catholic Healthcare Ser 2008 A
				(LOC: Bank of America NA)			0.030				10/01/31				200,000
	5,700,000			OH St Hgr Edu Fac Rev (Case Western) Ser 2002 A (SPA: Wells Fargo NA)			0.020				10/01/31				5,700,000
	3,000,000			OH St Hgr Edu Fac Rev (Case Western) Ser 2002 A (SPA: Wells Fargo Bank NA)			0.020				10/01/31				3,000,000
	695,000			486 Lesser Street LLC Ser 2007			0.130				02/01/32				695,000
	1,600,000			KS St Dev Fin Auth Rev (Indl Dlr Bldg Proj) Ser 2009 O (LOC: Great Western Bank)			0.190				09/01/32				1,600,000
	1,100,000			OH St Air Quality Dev Auth Variable Ref Poll Control Firs Ser 2012
				(LOC: Bank of Nova Scotia)			0.030				11/01/32				1,100,000
	4,875,000			Andrew W Mellon Foundation Ser 2008			0.100				12/01/32				4,875,000
	6,032,000			Hart Family Holdings LLC US Domestic Ser 2012			0.150				12/01/32				6,032,000

 

 

Touchstone Money Market Fund (Unaudited) (Continued)

 

	Principal						Interest				Maturity
	Amount						Rate				Date				Value
				Variable Rate Demand Notes (A) — 53.4% (Continued)
$	1,435,000			Young Men's Christian Association of Metropolitan Milwaukee, Inc. (The) Ser
				2008			0.160	%			05/01/33			$	1,435,000
	700,000			OH St Wtr Dev Auth Poll Cont Rev Ser 2010 C (LOC: UBS AG)			0.060				06/01/33				700,000
	580,000			Alameda Co CA IDA Golden West Paper Ser 2008 (LOC: Comerica Bank)			0.210				11/01/33				580,000
	2,485,000			First Christian Church Of Florissant US Domestic Ser 2008			0.160				01/01/34				2,485,000
	11,700,000			Allen Co OH Hosp Facs Rev Catholic Healthcare Ser 2010 C (LOC: Union Bank NA)			0.020				06/01/34				11,700,000
	2,450,000			D&I Properties LLC US Domestic Ser 2004			0.130				11/01/34				2,450,000
	7,500,000			Westchester Co NY Hlthcare Sr Lien Ser 2010 D (LOC: TD Bank NA)			0.120				11/01/34				7,500,000
	805,000			WA St Hsg Fin Commission Mallard Lakes Ser 2002 B (LIQ: FNMA)			0.160				05/15/35				805,000
	6,000,000			East Baton Rouge Parish LA IDB (ExxonMobil Proj) Ser 2010 A			0.010				08/01/35				6,000,000
	3,300,000			MS St Business Fin Co Chevron USA Ser 2011 F			0.020				11/01/35				3,300,000
	200,000			MS St Business Fin Co Chevron USA Inc Ser 2010 L			0.020				11/01/35				200,000
	3,200,000			MS St Business Fin Co Chevron USA Inc Ser J Ser 2010			0.020				11/01/35				3,200,000
	2,005,000			Metropolitan Govt Nashville & Davidson Hsg Jackson Apts Ser 2006 B
				(LOC: BMO Harris Bank NA)			0.200				04/01/36				2,005,000
	3,800,000			NY UTGO Ser 2013 (LOC: Bank Of NY Mellon Trust)			0.030				04/01/36				3,800,000
	505,000			CA St Infrastructure & Tobinworld Proj Ser 2007 B (LOC: Comerica Bank)			0.367				11/01/36				505,000
	1,853,000			Mill Street Village LLC Ser 2006			0.380				01/01/37				1,853,000
	930,000			WA St Hsg Fin Commission Vintage Proj Ser 2003 B (LIQ: FNMA)			0.120				01/15/37				930,000
	4,220,000			Keep Memory Alive Ser 2013			0.120				05/01/37				4,220,000
	1,350,000			WA St Hsg Fin Commission Highlander Apts B Ser 2004 (LIQ: FHLMC)			0.180				05/01/37				1,350,000
	245,000			LA Crosse WI IDR (G G P Inc Proj) Ser 2007 B (LOC: Wells Fargo Bank NA)			0.220				08/01/37				245,000
	5,260,000			OSF Finance Co. LLC US Domestic Ser 2007			0.130				12/01/37				5,260,000
	170,000			District of Columbia Rev Pew Charitable Ser 2008 B (LOC: PNC Bank NA)			0.190				04/01/38				170,000
	2,300,000			Chatom AL IDB Powersouth Energy Coop Ser 2011 A
				(SPA: National Rural Utilities Finance)			0.600				11/15/38				2,300,000
	4,000,000			OH St Hgr Edl Fac Comm Hosp Cleveland Clinic Hlth Sys Ser 2013
				(LIQ: Bank of NY Mellon Trust)			0.040				01/01/39				4,000,000
	1,595,000			Orthopedic Hospital of Wisconsin LLC (LOC: BMO)			0.160				03/01/39				1,595,000
	35,000			Montgomery Co OH Rev Miami VY Hosp Ser 2011 C (SPA: Wells Fargo Bank NA)			0.020				11/15/39				35,000
	670,000			Boldt Healthcare Properties LLC Priv Placement Ser 2010			0.160				10/01/43				670,000
	6,500,000			Montgomery Co OH Rev Miami VY Hosp Ser Ser 2011 C
				(SPA: JP Morgan Chase Bank NA)			0.020				11/15/45				6,500,000
	3,880,000			Schreiber Capital Co. LLC US Domestic Ser 2006			0.170				04/01/46				3,880,000
	5,000,000			MI St Fin Auth Rev Sch Ln Ser 2010 B (LOC: Bank of Montreal)			0.130				09/01/50				5,000,000
	950,000			MBE Investment Co. LLC US Domestic Ser 2001			0.200				02/01/51				950,000
				Total Variable Rate Demand Notes										$	169,687,100
				U.S. Government Agency Obligations— 18.2%
	2,300,000			Farmer Mac#			0.010				01/02/14				2,300,000
	2,824,138			Overseas Private Investment Corp. (A)(B)			0.120				03/15/17				2,824,138
	2,241,376			Overseas Private Investment Corp. (A)(B)			0.120				03/15/17				2,241,376
	6,000,000			Overseas Private Investment Corp. (A)(B)			0.120				06/15/17				6,000,000
	6,000,000			Overseas Private Investment Corp. (A)(B)			0.120				06/15/17				6,000,000
	5,000,000			Overseas Private Investment Corp. (A)(B)			0.120				06/15/17				5,000,000
	2,000,000			Overseas Private Investment Corp. (A)(B)			0.120				12/16/19				2,000,000
	2,909,773			Overseas Private Investment Corp. (A)(B)			0.120				03/15/24				2,909,773
	5,000,000			Overseas Private Investment Corp. (A)(B)			0.120				07/15/25				5,000,000
	3,000,000			Overseas Private Investment Corp. (A)(B)			0.120				05/15/30				3,000,000
	9,658,120			Overseas Private Investment Corp. (A)(B)			0.120				10/15/32				9,658,120
	5,200,000			Overseas Private Investment Corp. (A)(B)			0.120				06/15/34				5,200,000
	3,000,000			Overseas Private Investment Corp. (A)(B)			0.120				06/15/34				3,000,000

  

 

Touchstone Money Market Fund (Unaudited) (Continued)

 

Principal						Interest				Maturity
Amount						Rate				Date				Value
				U.S. Government Agency Obligations — 18.2% (Continued)
$	2,500,000			Overseas Private Investment Corp. (A)(B)			0.120	%			06/15/34			$	2,500,000
				Total U.S. Government Agency Obligations										$	57,633,407
				Corporate Bonds— 15.0%
	600,000			Cooperatieve Centrale Raiffeisen-Boerenleenbank			1.850				01/10/14				600,191
	228,000			EI du Pont DE Nemours & Co.			5.875				01/15/14				228,442
	1,000,000			Royal Bank of Canada			1.125				01/15/14				1,000,304
	2,600,000			JPMorgan Chase & Co. MTN (B)			1.038				01/24/14				2,601,194
	3,000,000			JPMorgan Chase & Co. MTN			2.050				01/24/14				3,003,104
	3,000,000			Bank of New York Mellon Corp. (The) MTN			1.500				01/31/14				3,003,092
	623,000			US Bank NA			6.300				02/04/14				626,292
	1,450,000			Caterpillar Financial Services Corp. MTN			6.125				02/17/14				1,460,455
	4,500,000			Toyota Motor Credit Corp. MTN (B)			0.238				02/24/14				4,500,000
	1,050,000			National Rural Utilities Cooperative Finance Corp.			4.750				03/01/14				1,057,465
	355,000			Caterpillar Financial Services Corp. MTN			1.650				04/01/14				356,189
	650,000			Bank of Montreal MTN			1.750				04/29/14				652,997
	437,000			EI du Pont DE Nemours & Co.			4.875				04/30/14				443,543
	6,231,000			Credit Suisse/New York			5.500				05/01/14				6,335,330
	1,300,000			Northern Trust Corp.			4.625				05/01/14				1,318,606
	125,000			International Business Machines Corp.			1.250				05/12/14				125,375
	3,600,000			Cooperatieve Centrale Raiffeisen-Boerenleenbank 144a			4.200				05/13/14				3,650,865
	925,000			General Electric Capital Corp.			5.900				05/13/14				943,425
	1,433,000			Bank of New York Mellon Corp. (The) MTN			4.300				05/15/14				1,453,781
	5,400,000			US BanCorp			4.200				05/15/14				5,478,149
	1,190,000			Caterpillar Financial Services Corp. MTN			1.375				05/20/14				1,194,831
	500,000			Microsoft Corp.			2.950				06/01/14				505,303
	517,000			General Electric Capital Corp. MTN			5.650				06/09/14				528,791
	925,000			Toronto-Dominion Bank (The)			1.375				07/14/14				930,352
	1,055,000			Procter & Gamble Co. (The)			0.700				08/15/14				1,057,984
	2,600,000			Procter & Gamble Co. (The)			4.950				08/15/14				2,675,377
	1,900,000			Bank of Nova Scotia			1.850				01/12/15				1,929,051
				Total Corporate Bonds										$	47,660,488
				Municipal Bonds— 5.5%
	1,000,000			IN St Bond Bank Rev Txbl Sch Severance Funding Ser 2013			0.150				01/15/14				1,000,000
	1,200,000			Mason OH EDR (Al Neyer Inc Proj) UTGO			1.500				01/29/14				1,200,439
	1,500,000			Wichita KS Temp Nts UTGO			0.550				02/11/14				1,500,000
	655,000			Loveland OH Txbl BANS Real Estate Acquisition LTGO Ser 2013			3.000				02/12/14				656,087
	1,300,000			Miami Twp OH Montgomery Co LTGO Ser 2013			1.500				02/13/14				1,301,254
	1,800,000			Franklin Co OH (Spl Oblg) BANS (Stadium Fac Proj) Ser 2013			0.800				03/07/14				1,800,941
	1,700,000			Fishers Redev Auth Lease Re BANS Rev Notes Ser 2013			0.750				04/12/14				1,700,000
	250,000			Michigan ST Taxable- Sch Ln UTGO Ser 2011 A			2.050				04/15/14				250,990
	1,000,000			Williams Cnty Brd of Edu BANS Sch Impt UTGO Ser 2013			1.625				04/22/14				1,002,940
	1,650,000			Hamilton IN S Estrn Consol Sch BANS Rev Notes Ser 2013			2.000				06/15/14				1,660,337
	395,000			Manchester CT BANS UTGO Ser 2013			1.000				07/03/14				395,487
	405,000			IN St Bond Bank Rev Txbl Sch Severance Funding Ser 2013			0.279				07/15/14				405,000
	400,000			New Albany OH Txbl BANS Revenue Notes Ser 2013			1.375				07/31/14				401,938
	1,700,000			IL St Fin Auth Rev Northwestern Mem Hosp Ser 2004 A Pre-refunded @ $100			5.500				08/15/14				1,753,799
	1,000,000			Center Grove Multi-Fac Sch Bld BANS Rev Notes Ser 2013			0.500				09/15/14				1,000,000
	1,300,000			American Muni Pwr, Inc. BANS Ser 2013			1.000				10/23/14				1,302,100
				Total Municipal Bonds										$	17,331,312

 

  

Touchstone Money Market Fund (Unaudited) (Continued)

 

Principal						Interest				Maturity
Amount						Rate				Date				Value
				Certificates of Deposit— 4.5%
$	6,000,000			Bank of Nova Scotia/Houston (B)			0.180	%			01/02/14			$	5,999,980
	3,500,000			Canadian Imperial Bank of Commerce/New York NY (B)			0.251				03/05/14				3,500,489
	2,400,000			Bank of Tokyo-Mit UFJ Ltd/New York NY (B)			0.842				03/07/14				2,401,695
	2,500,000			Canadian Imperial Bank of Commerce/New York NY (B)			0.275				03/21/14				2,500,000
				Total Certificates of Deposit										$	14,402,164
				Commercial Paper— 3.3%
	5,500,000			Bank Tokyo-Mit UFJ Cp (LOC: Bank of Tokyo)#			0.800				01/06/14				5,499,951
	4,900,000			Bank Tokyo-Mit UFJ Cp (LOC: Bank of Tokyo)#			0.110				01/07/14				4,899,925
				Total Commercial Paper										$	10,399,876
				Total Investment Securities —99.9%
				(Cost $317,114,347)										$	317,114,347
				Other Assets in Excess of Liabilities — 0.1%											417,296
				Net Assets — 100.0%										$	317,531,643

  

(A)

Demand Feature - Maturities shown are the final maturities, not the date on which principal could be recovered through the demand feature.

 

(B)

Variable rate security - Rate reflected is the rate in effect as of December 31, 2013.

 

#

Zero coupon bond - Rate shown reflects effective yield to maturity at time of purchase.

  

Portfolio Abbreviations:

  

BANS - Bond Anticipation Notes

EDR - Economic Development Revenue

FHLMC - Federal Home Loan Mortgage Corp

FNMA - Federal National Mortgage Association

IDA - Industrial Development Authority/Agency

IDB - Industrial Development Board

IDR - Industrial Development Revenue

LIQ - Liquidity Facility

LLC - Limited Liability Company

LOC - Letter of Credit

LP - Limited Partnership

LTGO - Limited Tax General Obligation

MTN - Medium Term Note

SPA - Stand-by Purchase Agreement

UTGO - Unlimited Tax General Obligation

 

 

Touchstone Money Market Fund (Unaudited) (Continued)

 

Other Information:

  

The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.

 

			Valuation inputs at Reporting Date:
Description			Level 1				Level 2				Level 3				Total
Variable Rate Demand Notes		$	—			$	169,687,100			$	—			$	169,687,100
U.S. Government Agency Obligations			—				57,633,407				—				57,633,407
Corporate Bonds			—				47,660,488				—				47,660,488
Municipal Bonds			—				17,331,312				—				17,331,312
Certificates of Deposit			—				14,402,164				—				14,402,164
Commercial Paper			—				10,399,876				—				10,399,876
														$	317,114,347

 

See accompanying Notes to Portfolios of Investments.

 

  

Notes to Portfolios of Investments

  

December 31, 2013 (Unaudited)

 

Security valuation and fair value measurements — All investments in securities are recorded at their estimated fair value. The Funds define the term “market value”, as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. Generally accepted accounting principles in the United States (“U.S. GAAP”) establish a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:

 

• Level 1 –

quoted prices in active markets for identical securities

  

• Level 2 –

other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

  

• Level 3 –

significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

  

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market instruments are valued using amortized cost, in accordance with rules under the 1940 Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

  

The aggregate value by input level, as of December 31, 2013, for each Fund’s investments, as well as a reconciliation of assets for which significant unobservable inputs (Level 3) were used in determining value, if applicable, is included in each Fund’s Portfolio of Investments, which also includes a breakdown of the Fund’s investments by portfolio allocation.

  

All transfers in and out of the levels are recognized at the value at the end of the period. During the period ended December 31, 2013 there were no transfers between Level 1, 2 and 3 for all Funds.

  

The Funds’ portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange (“NYSE”) (currently 4:00 p.m., Eastern time). Portfolio securities traded on stock exchanges are valued at the last sale price, and to the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price (“NOCP”). Securities not traded on a particular day, or for which the last sale price is not readily available, are valued at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities by an independent pricing service and are categorized in Level 2. Debt securities for which market quotations are readily available are valued at their most recent bid prices as obtained from one or more of the major market makers for such securities by an independent pricing service and are categorized in Level 2. Money market instruments and other debt securities with a remaining maturity of less than 60 days are valued at amortized cost, which approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment. Securities for which market quotations or the NOCP are not readily available are fair valued as determined by or under the direction of the Board ofTrustees and are categorized in Level 3. Shares of open-end mutual funds in which the Funds invest are valued at their respective net asset values (“NAV”) as reported by the underlying funds and are categorized in Level 1. The prices for foreign securities are reported in local currency and translated into U.S. dollars using currency exchange rates.

  

Level 2 Valuation— Securities mainly traded on a non-U.S. exchange are generally valued according to the preceding closing values on that exchange. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value. This may cause the value of the security on the books of the Fund to be significantly different from the closing value on the non-U.S. exchange and

 

 

Notes to Portfolios of Investments (Unaudited) (Continued)

 

may affect the calculation of the NAV of the Funds. Any debt securities held by the Funds for which market quotations are not readily available are generally priced at their most recent bid prices as obtained from one or more of the major market makers for such securities.

  

Level 3 Valuation— Securities held by the Funds that do not have readily available market quotations, or securities for which the available market quotation are not reliable, are priced at their fair value using procedures approved by the Funds’ Board of Trustees.

  

The Funds may use fair value pricing under the following circumstances, among others:

  

•

If the value of a security has been materially affected by events occurring before the Fund’s pricing time but after the close of the primary markets on which the security is traded.

 

•

If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Fund’s NAV calculation.

  

•

If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.

 

•

If the validity of market quotations is not reliable.

  

Foreign currency translation —The books and records of the Funds are maintained in U.S. dollars and translated into U.S. dollars on the following basis:

  

(1) market value of investment securities, assets and liabilities at the current rate of exchange on the valuation date; and

  

(2) purchases and sales of investment securities, income and expenses at the relevant rate of exchange prevailing on the respective dates of such transactions.

  

The Funds do not isolate that portion of gains and losses on investment in equity securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities.

  

Forward foreign currency contracts —A forward foreign currency contract is an agreement between two parties to buy and sell a specific currency at a price that is set on the date of the contract. The forward contract calls for delivery of the currency on a future date that is specified in the contract. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral, the risk that currency movements will not occur thereby reducing the Fund’s total return, and the potential for losses in excess of the Fund’s initial investment.

  

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked to market daily and the change in value is recorded by a Fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency.

  

During the period ended December 31, 2013, the Funds used forward foreign currency contracts to enhance potential gains, hedge against anticipated currency exchange rates, maintain diversity and liquidity of the portfolio and adjust exposure to foreign currencies.

  

There were no open forward foreign currency contracts for the funds at December 31, 2013.

  

Portfolio securities loaned — Each Fund may lend its portfolio securities. Lending portfolio securities exposes a Fund to the risk that the borrower may fail to return the loaned securities or may not be able to provide additional collateral or that the Funds may experience delays in recovery of the loaned securities or loss of rights in the collateral if the borrower fails financially. To minimize these risks, the borrower must agree to maintain

 

 

Notes to Portfolios of Investments (Unaudited) (Continued)

 

cash collateral with the Funds’ custodian. The loaned securities are secured by collateral valued at least equal, at all times, to the market value of the securities loaned plus accrued interest, if any. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the security lending agreement. The cash collateral is reinvested by the Funds’ custodian into an approved investment vehicle.

  

As of December 31, 2013, the following Funds loaned securities and received collateral as follows:

 

			Market				Market
			Value of				Value of
			Securities				Collateral
Fund			Loaned				Received
High Yield Fund			4,161,048				4,300,343

 

All collateral received as cash is received, held and administered by the Funds’ custodian for the benefit of the Funds in the applicable custody account or other account established for the purpose of holding collateral.

  

Funds participating in securities lending receive compensation in the form of fees. The Funds retain the interest or dividends on the investment of any cash received as collateral. The Funds also continue to receive interest or dividends on the securities loaned.

  

Unrealized gain or loss on the market value of the securities loaned that may occur during the term of the loan is recognized by the Funds. The Funds have the right under the lending agreement to recover the securities from the borrower on demand.

  

Repurchase agreements — Repurchase agreements, which are collateralized by U.S.Government obligations, are valued at cost, which together with accrued interest approximates market value. At the time each Fund enters into a repurchase agreement, the seller agrees that the value of the underlying collateral securities, including accrued interest, will at all times be equal to or exceed the face amount of the repurchase agreement.

  

Security transactions— Security transactions are reflected for financial reporting purposes as of the trade date. Realized gains and losses on sales of portfolio securities are calculated using the identified cost basis.

  

Federal Tax Information— As of December 31, 2013, the Funds had the following federal tax cost resulting in net unrealized appreciation (depreciation) as follows:

 

							Gross				Gross				Net Unrealized
			Federal Tax				Unrealized				Unrealized				Appreciation
			Cost				Appreciation				Depreciation				(Depreciation)
Core Bond Fund		$	98,151,325			$	3,681,924			$	(1,883,057	)		$	1,798,867
High Yield Fund			326,570,113				10,951,006				(2,264,794	)			8,686,212
Institutional Money Market Fund			661,708,635				—				—				—
Money Market Fund			317,114,347				—				—				—

 

 

 

Item 2. Controls and Procedures.

 

(a)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)

Touchstone Investment Trust

 

By (Signature and Title)*	/s/ Jill T. McGruder
	Jill T. McGruder, President
	(principal executive officer)

 

Date

02/25/14

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)*	/s/ Jill T. McGruder
	Jill T. McGruder, President
	(principal executive officer)

 

Date

02/25/14

 

By (Signature and Title)*	/s/ Terrie A. Wiedenheft
	Terrie A. Wiedenheft, Controller and Treasurer
	(principal financial officer)

 

Date

02/25/14

 

 

 

^* Print the name and title of each signing officer under his or her signature.