NPORT-EX 2 NPORT_I3BF_67157604_0722.htm FOR VALIDATION PURPOSES ONLY - [397013.I3BF]

Transamerica Bond

 

SCHEDULE OF INVESTMENTS

At July 31, 2022

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES - 14.6%  

321 Henderson Receivables VI LLC

      

Series 2010-1A, Class A,

      

5.56%, 07/15/2059 (A)

      $  491,370        $  501,263  

Accelerated LLC

      

Series 2021-1H, Class B,

      

1.90%, 10/20/2040 (A)

      3,996,205        3,661,511  

Series 2021-1H, Class D,

      

3.58%, 10/20/2040 (A)

      2,393,368        2,188,929  

Anchorage Capital CLO 16 Ltd.

      

Series 2020-16A, Class CR,

      

3-Month LIBOR + 2.40%,
5.14% (B), 01/19/2035 (A)

      2,700,000        2,531,957  

Anchorage Capital CLO 25 Ltd.

      

Series 2022-25A, Class C,

      

3-Month SOFR + 2.35%,
4.83% (B), 04/20/2035 (A)

      4,400,000        4,200,607  

Anchorage Capital CLO 9 Ltd.

      

Series 2016-9A, Class AR2,

      

3-Month LIBOR + 1.14%,
3.65% (B), 07/15/2032 (A)

      3,600,000        3,516,898  

Aqua Finance Trust

      

Series 2021-A, Class A,

      

1.54%, 07/17/2046 (A)

      2,876,280        2,678,719  

Battalion CLO XVI Ltd.

      

Series 2019-16A, Class CR,

      

3-Month LIBOR + 2.25%,
4.96% (B), 12/19/2032 (A)

      3,100,000        2,923,244  

Battalion CLO XXI Ltd.

      

Series 2021-21A, Class A,

      

3-Month LIBOR + 1.18%,
3.69% (B), 07/15/2034 (A)

      2,880,000        2,798,637  

Bavarian Sky UK 5 PLC

      

Series 2014-1A, Class A1A2,

      

3-Month LIBOR + 1.20%,
3.91% (B), 10/20/2034 (A)

      4,500,000        4,343,423  

BRE Grand Islander Timeshare Issuer LLC

      

Series 2017-1A, Class A,

      

2.94%, 05/25/2029 (A)

      115,343        112,626  

BXG Receivables Note Trust

      

Series 2015-A, Class A,

      

2.88%, 05/02/2030 (A)

      398,450        393,271  

Series 2020-A, Class A,

      

1.55%, 02/28/2036 (A)

      1,151,603        1,070,996  

CARS-DB4 LP

      

Series 2020-1A, Class A1,

      

2.69%, 02/15/2050 (A)

      1,101,000        1,050,691  

Series 2020-1A, Class A4,

      

3.19%, 02/15/2050 (A)

      5,976,194        5,690,187  

CARS-DB5 LP

      

Series 2021-1A, Class A3,

      

1.92%, 08/15/2051 (A)

      4,118,283        3,657,627  

Countrywide Asset-Backed Certificates

      

Series 2002-S3, Class A5,

      

4.93% (B), 05/25/2032

      6,731        6,606  

DataBank Issuer

      

Series 2021-1A, Class A2,

      

2.06%, 02/27/2051 (A)

      4,727,000        4,306,459  
     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

Diamond Infrastructure Funding LLC

      

Series 2021-1A, Class A,

      

1.76%, 04/15/2049 (A)

      $   3,375,000        $   2,970,981  

Diamond Resorts Owner Trust

      

Series 2019-1A, Class A,

      

2.89%, 02/20/2032 (A)

      679,645        666,992  

ExteNet LLC

      

Series 2019-1A, Class A2,

      

3.20%, 07/26/2049 (A)

      2,765,000        2,662,016  

GoodLeap Sustainable Home Solutions Trust

      

Series 2021-4GS, Class A,

      

1.93%, 07/20/2048 (A)

      2,886,526        2,495,986  

Series 2021-5CS, Class A,

      

2.31%, 10/20/2048 (A)

      3,173,354        2,737,132  

Series 2022-1GS, Class A,

      

2.70%, 01/20/2049 (A)

      4,062,251        3,644,500  

GSAA Home Equity Trust

      

Series 2006-1, Class A3,

      

1-Month LIBOR + 0.66%,
2.92% (B), 01/25/2036

      1,019,609        491,042  

Hilton Grand Vacations Trust

      

Series 2018-AA, Class C,

      

4.00%, 02/25/2032 (A)

      560,442        544,925  

JG Wentworth XXI LLC

      

Series 2010-2A, Class A,

      

4.07%, 01/15/2048 (A)

      353,617        350,212  

JGWPT XXIII LLC

      

Series 2011-1A, Class A,

      

4.70%, 10/15/2056 (A)

      1,179,459        1,193,996  

Lehman XS Trust

      

Series 2005-8, Class 1A3,

      

1-Month LIBOR + 0.70%,
2.96% (B), 12/25/2035

      897,466        954,868  

Longfellow Place CLO Ltd.

      

Series 2013-1A, Class AR3,

      

3-Month LIBOR + 1.00%,
3.51% (B), 04/15/2029 (A)

      3,038,811        3,014,388  

MVW LLC

      

Series 2019-2A, Class B,

      

2.44%, 10/20/2038 (A)

      723,078        679,360  

Series 2021-1WA, Class C,

      

1.94%, 01/22/2041 (A)

      2,248,101        2,074,829  

MVW Owner Trust

      

Series 2019-1A, Class A,

      

2.89%, 11/20/2036 (A)

      1,255,925        1,216,434  

New Residential Advance Receivables Trust

      

Series 2020-APT1, Class DT1,

      

2.00%, 12/16/2052 (A)

      400,000        390,280  

Series 2020-T1, Class AT1,

      

1.43%, 08/15/2053 (A)

      13,300,000        12,714,582  

Series 2020-T1, Class BT1,

      

1.82%, 08/15/2053 (A)

      2,400,000        2,281,774  

Series 2020-T1, Class DT1,

      

3.01%, 08/15/2053 (A)

      3,390,000        3,224,561  

NRZ Advance Receivables Trust

      

Series 2020-T2, Class AT2,

      

1.48%, 09/15/2053 (A)

      20,913,000        19,943,059  

Series 2020-T2, Class CT2,

      

2.17%, 09/15/2053 (A)

      1,200,000        1,146,692  

Series 2020-T3, Class BT3,

      

1.57%, 10/15/2052 (A)

      120,000        119,089  

Series 2020-T3, Class CT3,

      

1.81%, 10/15/2052 (A)

      600,000        595,697  

Series 2020-T3, Class DT3,

      

2.46%, 10/15/2052 (A)

      480,000        476,180  
 

 

Transamerica Funds

     Page    1         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

Octagon 54 Ltd.

      

Series 2021-1A, Class A1,

      

3-Month LIBOR + 1.12%,
3.63% (B), 07/15/2034 (A)

      $   2,750,000        $   2,654,966  

Ocwen Master Advance Receivables Trust

      

Series 2020-T1, Class AT1,

      

1.28%, 08/15/2052 (A)

      9,157,642        9,145,668  

Series 2020-T1, Class BT1,

      

1.77%, 08/15/2052 (A)

      1,290,905        1,289,014  

Series 2020-T1, Class CT1,

      

2.32%, 08/15/2052 (A)

      535,011        534,333  

Series 2020-T1, Class DT1,

      

3.06%, 08/15/2052 (A)

      1,254,695        1,253,040  

Orange Lake Timeshare Trust

      

Series 2016-A, Class A,

      

2.61%, 03/08/2029 (A)

      202,832        197,403  

Series 2018-A, Class C,

      

3.74%, 11/08/2030 (A)

      426,255        415,314  

Series 2019-A, Class A,

      

3.06%, 04/09/2038 (A)

      332,391        322,852  

Series 2019-A, Class C,

      

3.61%, 04/09/2038 (A)

      332,389        320,348  

Pikes Peak CLO 4

      

Series 2019-4A, Class AR,

      

3-Month LIBOR + 1.20%,
3.71% (B), 07/15/2034 (A)

      4,395,000        4,275,860  

Sierra Timeshare Receivables Funding LLC

      

Series 2018-3A, Class A,

      

3.69%, 09/20/2035 (A)

      532,873        526,325  

Series 2018-3A, Class D,

      

5.20%, 09/20/2035 (A)

      573,090        562,700  

Series 2019-1A, Class B,

      

3.42%, 01/20/2036 (A)

      407,647        397,334  

Series 2019-2A, Class A,

      

2.59%, 05/20/2036 (A)

      557,445        544,997  

Series 2019-2A, Class D,

      

4.54%, 05/20/2036 (A)

      565,591        545,966  

Series 2020-2A, Class A,

      

1.33%, 07/20/2037 (A)

      276,199        262,263  

Series 2020-2A, Class B,

      

2.32%, 07/20/2037 (A)

      1,341,267        1,290,317  

Series 2021-1A, Class C,

      

1.79%, 11/20/2037 (A)

      2,808,754        2,611,325  

Series 2021-1A, Class D,

      

3.17%, 11/20/2037 (A)

      1,946,708        1,817,082  

SPS Servicer Advance Receivables Trust II

      

Series 2020-T1, Class AT1,

      

1.28%, 11/15/2052 (A)

      3,169,333        3,136,466  

Series 2020-T1, Class CT1,

      

1.82%, 11/15/2052 (A)

      654,667        647,999  

Series 2020-T1, Class DT1,

      

2.37%, 11/15/2052 (A)

      360,000        356,350  

STORE Master Funding I LLC

      

Series 2015-1A, Class A2,

      

4.17%, 04/20/2045 (A)

      1,036,031        1,009,862  

Sunnova Helios V Issuer LLC

      

Series 2021-A, Class A,

      

1.80%, 02/20/2048 (A)

      2,447,143        2,163,720  

TICP CLO III-2 Ltd.

      

Series 2018-3R, Class B,

      

3-Month LIBOR + 1.35%,
4.06% (B), 04/20/2028 (A)

      1,250,000        1,225,396  
     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

Towd Point Mortgage Trust

      

Series 2016-4, Class A1,

      

2.25% (B), 07/25/2056 (A)

      $   12,242        $   12,208  

Series 2017-1, Class A1,

      

2.75% (B), 10/25/2056 (A)

      419,159        416,071  

Series 2017-3, Class A1,

      

2.75% (B), 07/25/2057 (A)

      314,118        310,348  

Series 2017-4, Class A1,

      

2.75% (B), 06/25/2057 (A)

      2,179,945        2,124,726  

Series 2017-6, Class A1,

      

2.75% (B), 10/25/2057 (A)

      2,098,318        2,062,348  

Series 2018-2, Class A1,

      

3.25% (B), 03/25/2058 (A)

      1,886,145        1,848,817  

Series 2018-4, Class A1,

      

3.00% (B), 06/25/2058 (A)

      3,228,285        3,088,395  

Series 2018-5, Class A1A,

      

3.25% (B), 07/25/2058 (A)

      1,106,032        1,085,768  

Series 2019-1, Class A1,

      

3.67% (B), 03/25/2058 (A)

      5,781,763        5,671,482  

Series 2020-4, Class A1,

      

1.75%, 10/25/2060 (A)

      8,658,556        7,990,824  

Vantage Data Centers Issuer LLC

      

Series 2020-1A, Class A2,

      

1.65%, 09/15/2045 (A)

      5,085,000        4,644,964  

VSE VOI Mortgage LLC

      

Series 2018-A, Class A,

      

3.56%, 02/20/2036 (A)

      366,628        360,383  

Welk Resorts LLC

      

Series 2019-AA, Class A,

      

2.80%, 06/15/2038 (A)

      781,894        764,750  

Wellfleet CLO Ltd.

      

Series 2015-1A, Class BR4,

      

3-Month LIBOR + 1.55%,
4.26% (B), 07/20/2029 (A)

      3,815,000        3,682,585  

Series 2016-2A, Class A2R,

      

3-Month LIBOR + 1.58%,
4.29% (B), 10/20/2028 (A)

      4,975,000        4,820,899  

Series 2017-2A, Class A2R,

      

3-Month LIBOR + 1.62%,
4.33% (B), 10/20/2029 (A)

      4,000,000        3,864,832  

Series 2022-1A, Class C,

      

3-Month SOFR + 2.85%,
4.97% (B), 04/15/2034 (A)

      2,500,000        2,405,616  
     

 

 

  

Total Asset-Backed Securities
(Cost $205,110,306)

 

      194,885,142  
  

 

 

  
CORPORATE DEBT SECURITIES - 47.5%  
Aerospace & Defense - 0.8%  

Boeing Co.

      

5.15%, 05/01/2030

      3,195,000        3,229,425  

5.93%, 05/01/2060

      2,833,000        2,830,335  

Embraer Netherlands Finance BV

      

6.95%, 01/17/2028 (A)

      2,343,000        2,360,573  

Huntington Ingalls Industries, Inc.

      

2.04%, 08/16/2028

      2,986,000        2,614,388  
     

 

 

  
        11,034,721  
     

 

 

  
Air Freight & Logistics - 0.3%  

GXO Logistics, Inc.

      

2.65%, 07/15/2031

      5,315,000        4,171,114  
     

 

 

  
Airlines - 1.3%  

American Airlines Pass-Through Trust

      

3.15%, 08/15/2033

      2,336,812        2,063,573  

3.70%, 04/01/2028

      1,128,549        980,339  

4.00%, 01/15/2027

      1,575,710        1,418,510  
 

 

Transamerica Funds

     Page    2         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Airlines (continued)  

Delta Air Lines Pass-Through Trust

      

3.20%, 10/25/2025

      $   1,655,000        $   1,608,920  

Delta Air Lines, Inc. / SkyMiles IP Ltd.

      

4.75%, 10/20/2028 (A)

      2,086,000        2,037,001  

JetBlue Pass-Through Trust

      

Series 2019, Class AA,

      

2.75%, 11/15/2033

      2,535,473        2,233,465  

Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.

      

6.50%, 06/20/2027 (A)

      2,916,556        2,945,692  

United Airlines Pass-Through Trust

      

2.70%, 11/01/2033

      956,464        826,636  

3.75%, 03/03/2028

      1,312,023        1,227,146  

4.15%, 02/25/2033

      1,911,197        1,812,690  

US Airways Pass-Through Trust

      

3.95%, 05/15/2027

      209,552        190,419  
     

 

 

  
        17,344,391  
     

 

 

  
Auto Components - 0.4%  

Aptiv PLC / Aptiv Corp.

      

3.25%, 03/01/2032

      1,762,000        1,558,197  

Clarios Global LP / Clarios US Finance Co.

      

6.25%, 05/15/2026 (A)

      1,792,000        1,808,925  

Weichai International Hong Kong Energy Group Co. Ltd.

      

Fixed until 09/14/2022 (C),
3.75% (B) (D)

      1,600,000        1,598,000  
     

 

 

  
        4,965,122  
     

 

 

  
Automobiles - 0.2%  

General Motors Co.

      

6.25%, 10/02/2043

      2,723,000        2,697,950  
     

 

 

  
Banks - 4.8%  

ABN AMRO Bank NV

      

Fixed until 12/13/2031,
3.32% (B), 03/13/2037 (A)

      3,600,000        2,909,234  

Banco Santander SA

      

2.75%, 12/03/2030

      3,600,000        2,900,887  

Bank of America Corp.

      

Fixed until 06/19/2040,
2.68% (B), 06/19/2041

      3,406,000        2,595,501  

Fixed until 04/27/2032,
4.57% (B), 04/27/2033

      6,338,000        6,391,743  

Barclays PLC

      

Fixed until 03/15/2028 (C),
4.38% (B)

      5,310,000        4,315,968  

BBVA Bancomer SA

      

Fixed until 09/13/2029,
5.88% (B), 09/13/2034 (A)

      4,955,000        4,406,853  

6.75%, 09/30/2022 (A) (E)

      1,500,000        1,501,875  

BPCE SA

      

4.50%, 03/15/2025 (A)

      3,992,000        3,942,849  

Citigroup, Inc.

      

Fixed until 12/10/2025 (C),
4.00% (B)

      3,111,000        2,890,705  

Commerzbank AG

      

8.13%, 09/19/2023 (A)

      4,661,000        4,778,122  

Intesa Sanpaolo SpA

      

Fixed until 06/01/2031,
4.20% (B), 06/01/2032 (A)

      3,837,000        2,937,393  

5.02%, 06/26/2024 (A)

      595,000        576,035  

JPMorgan Chase & Co.

      

Fixed until 01/25/2032,
2.96% (B) 01/25/2033

      3,473,000        3,094,860  

Fixed until 02/01/2025 (C),
4.60% (B)

      4,698,000        4,162,356  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Banks (continued)  

Lloyds Banking Group PLC

      

Fixed until 06/27/2026 (C),
6.75% (B) (E)

      $   2,567,000        $   2,522,397  

Truist Financial Corp.

      

Fixed until 09/01/2025 (C),
4.95% (B)

      5,369,000        5,425,375  

UniCredit SpA

      

Fixed until 06/03/2031,
3.13% (B), 06/03/2032 (A)

      5,335,000        4,260,946  

Fixed until 06/30/2030,
5.46% (B), 06/30/2035 (A)

      1,858,000        1,525,364  

Wells Fargo & Co.

      

Fixed until 03/15/2026 (C),
3.90% (B)

      3,104,000        2,875,080  
     

 

 

  
        64,013,543  
     

 

 

  
Beverages - 0.7%  

Anheuser-Busch InBev Worldwide, Inc.

      

4.44%, 10/06/2048

      1,089,000        1,030,460  

4.75%, 01/23/2029

      2,771,000        2,917,996  

Constellation Brands, Inc.

      

3.15%, 08/01/2029

      1,344,000        1,254,670  

3.70%, 12/06/2026

      771,000        762,016  

Primo Water Holdings, Inc.

      

4.38%, 04/30/2029 (A)

      3,655,000        3,157,006  
     

 

 

  
        9,122,148  
     

 

 

  
Biotechnology - 0.6%  

AbbVie, Inc.

      

3.20%, 05/14/2026

      1,682,000        1,666,345  

4.05%, 11/21/2039

      1,711,000        1,620,369  

Amgen, Inc.

      

2.00%, 01/15/2032

      2,822,000        2,416,791  

CSL Finance PLC

      

4.63%, 04/27/2042 (A)

      1,546,000        1,557,427  
     

 

 

  
        7,260,932  
     

 

 

  
Building Products - 0.8%  

Builders FirstSource, Inc.

      

5.00%, 03/01/2030 (A)

      859,000        795,420  

Carlisle Cos., Inc.

      

2.20%, 03/01/2032

      2,572,000        2,078,620  

3.75%, 12/01/2027

      1,452,000        1,408,647  

Carrier Global Corp.

      

2.72%, 02/15/2030

      2,936,000        2,641,403  

Owens Corning

      

7.00%, 12/01/2036

      1,811,000        2,070,499  

Standard Industries, Inc.

      

3.38%, 01/15/2031 (A)

      2,179,000        1,771,854  
     

 

 

  
        10,766,443  
     

 

 

  
Capital Markets - 2.3%  

Charles Schwab Corp.

      

Fixed until 06/01/2026 (C),
4.00% (B)

      3,421,000        3,110,955  

Fixed until 12/01/2027 (C),
5.00% (B)

      1,915,000        1,622,961  

Credit Suisse AG

      

6.50%, 08/08/2023 (A)

      3,070,000        3,085,350  

Credit Suisse Group AG

      

Fixed until 08/21/2026 (C),
6.38% (A) (B)

      5,547,000        4,687,215  

Deutsche Bank AG

      

Fixed until 04/08/2030,
5.88% (B), 07/08/2031

      3,012,000        2,749,416  

Goldman Sachs Group, Inc.

      

Fixed until 02/24/2032,
3.10% (B), 02/24/2033

      5,025,000        4,497,971  
 

 

Transamerica Funds

     Page    3         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Capital Markets (continued)  

Jefferies Group LLC / Jefferies Group Capital Finance, Inc.

      

2.63%, 10/15/2031

      $   1,352,000        $   1,087,312  

LPL Holdings, Inc.

      

4.00%, 03/15/2029 (A)

      3,175,000        2,952,750  

Morgan Stanley

      

Fixed until 09/16/2031,
2.48% (B), 09/16/2036

      3,556,000        2,881,643  

4.00%, 07/23/2025

      3,504,000        3,532,059  
     

 

 

  
        30,207,632  
     

 

 

  
Chemicals - 0.7%  

ASP Unifrax Holdings, Inc.

      

5.25%, 09/30/2028 (A)

      1,005,000        845,818  

International Flavors & Fragrances, Inc.

      

2.30%, 11/01/2030 (A)

      2,647,000        2,269,373  

Mosaic Co.

      

4.05%, 11/15/2027

      800,000        800,680  

NOVA Chemicals Corp.

      

4.88%, 06/01/2024 (A)

      2,800,000        2,729,747  

Nutrien Ltd.

      

4.20%, 04/01/2029

      2,011,000        1,998,706  
     

 

 

  
        8,644,324  
     

 

 

  
Commercial Services & Supplies - 0.8%  

ADT Security Corp.

      

4.13%, 08/01/2029 (A)

      2,728,000        2,455,200  

Ashtead Capital, Inc.

      

4.25%, 11/01/2029 (A)

      1,358,000        1,247,317  

Stericycle, Inc.

      

3.88%, 01/15/2029 (A)

      1,868,000        1,707,968  

5.38%, 07/15/2024 (A)

      1,408,000        1,408,310  

Triton Container International Ltd. / TAL International Container Corp.

      

3.25%, 03/15/2032

      5,371,000        4,367,780  
     

 

 

  
        11,186,575  
     

 

 

  
Communications Equipment - 0.4%  

CommScope, Inc.

 

4.75%, 09/01/2029 (A)

      5,544,000        4,820,397  
     

 

 

  
Construction & Engineering - 0.6%  

Ashton Woods USA LLC / Ashton Woods Finance Co.

      

4.63%, 08/01/2029 - 04/01/2030 (A)

      2,660,000        2,043,052  

IHS Holding Ltd.

      

5.63%, 11/29/2026 (A)

      2,561,000        2,124,708  

IHS Netherlands Holdco BV

      

8.00%, 09/18/2027 (A)

      1,975,000        1,755,261  

Quanta Services, Inc.

      

2.90%, 10/01/2030

      2,043,000        1,765,387  
     

 

 

  
        7,688,408  
     

 

 

  
Construction Materials - 0.4%  

CRH America Finance, Inc.

      

3.40%, 05/09/2027 (A)

      2,580,000        2,510,710  

Holcim Finance US LLC

      

3.50%, 09/22/2026 (A)

      2,427,000        2,401,638  
     

 

 

  
        4,912,348  
     

 

 

  
Consumer Finance - 1.1%  

Ally Financial, Inc.

      

8.00%, 11/01/2031

      3,848,000        4,362,840  

BMW US Capital LLC

      

2.80%, 04/11/2026 (A)

      1,921,000        1,863,240  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Consumer Finance (continued)  

Ford Motor Credit Co. LLC

      

3.38%, 11/13/2025

      $   4,705,000        $   4,458,808  

Nissan Motor Acceptance Co. LLC

      

2.45%, 09/15/2028 (A)

      3,359,000        2,758,402  

Volkswagen Group of America Finance LLC

      

1.63%, 11/24/2027 (A)

      2,089,000        1,822,230  
     

 

 

  
        15,265,520  
     

 

 

  
Containers & Packaging - 1.0%  

Clydesdale Acquisition Holdings, Inc.

      

6.63%, 04/15/2029 (A)

      2,004,000        2,023,479  

Mauser Packaging Solutions Holding Co.

      

5.50%, 04/15/2024 (A)

      4,410,000        4,361,997  

Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer LLC

      

4.00%, 10/15/2027 (A)

      3,570,000        3,145,420  

Sonoco Products Co.

      

2.25%, 02/01/2027

      2,168,000        1,994,158  

WRKCo, Inc.

      

3.90%, 06/01/2028

      2,405,000        2,373,973  
     

 

 

  
        13,899,027  
     

 

 

  
Diversified Financial Services - 2.6%  

AerCap Ireland Capital DAC / AerCap Global Aviation Trust

      

3.85%, 10/29/2041

      3,574,000        2,718,133  

4.45%, 04/03/2026

      3,579,000        3,473,958  

Aviation Capital Group LLC

      

1.95%, 01/30/2026 (A)

      1,920,000        1,679,141  

3.50%, 11/01/2027 (A)

      1,507,000        1,309,684  

5.50%, 12/15/2024 (A)

      5,008,000        4,969,075  

Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.

      

4.25%, 02/01/2027 (A)

      5,711,000        5,091,185  

Mexico Remittances Funding Fiduciary Estate Management SARL

      

4.88%, 01/15/2028 (A)

      6,098,000        4,847,910  

United Wholesale Mortgage LLC

      

5.50%, 11/15/2025 (A)

      4,725,000        4,412,772  

Virgin Media Secured Finance PLC

      

4.50%, 08/15/2030 (A)

      2,800,000        2,509,500  

5.50%, 05/15/2029 (A)

      3,940,000        3,743,493  
     

 

 

  
        34,754,851  
     

 

 

  
Diversified Telecommunication Services - 1.2%  

Axian Telecom

      

7.38%, 02/16/2027 (A)

      1,148,000        1,054,736  

Level 3 Financing, Inc.

      

3.40%, 03/01/2027 (A)

      4,475,000        4,021,503  

Lumen Technologies, Inc.

      

5.13%, 12/15/2026 (A)

      4,440,000        4,051,500  

7.50%, 04/01/2024

      1,750,000        1,798,300  

Verizon Communications, Inc.

      

1.75%, 01/20/2031

      2,923,000        2,449,260  

4.13%, 03/16/2027

      2,134,000        2,182,956  
     

 

 

  
        15,558,255  
     

 

 

  
Electric Utilities - 1.0%  

Cleveland Electric Illuminating Co.

      

3.50%, 04/01/2028 (A)

      5,178,000        4,932,534  

EDP Finance BV

      

3.63%, 07/15/2024 (A)

      5,254,000        5,225,885  

NRG Energy, Inc.

      

3.38%, 02/15/2029 (A)

      598,000        515,775  

3.63%, 02/15/2031 (A)

      854,000        715,314  
 

 

Transamerica Funds

     Page    4         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Electric Utilities (continued)  

Pacific Gas & Electric Co.

      

2.50%, 02/01/2031

      $   2,323,000        $   1,857,820  
     

 

 

  
        13,247,328  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.5%  

Arrow Electronics, Inc.

      

2.95%, 02/15/2032

      1,991,000        1,691,332  

Keysight Technologies, Inc.

      

4.60%, 04/06/2027

      2,980,000        3,044,093  

Sensata Technologies, Inc.

      

3.75%, 02/15/2031 (A)

      210,000        182,466  

4.38%, 02/15/2030 (A)

      1,498,000        1,390,023  
     

 

 

  
        6,307,914  
     

 

 

  
Energy Equipment & Services - 0.3%  

Investment Energy Resources Ltd.

      

6.25%, 04/26/2029 (A)

      1,793,000        1,647,331  

Schlumberger Holdings Corp.

      

3.90%, 05/17/2028 (A)

      1,737,000        1,696,975  
     

 

 

  
        3,344,306  
     

 

 

  
Equity Real Estate Investment Trusts - 2.8%  

Broadstone Net Lease LLC

      

2.60%, 09/15/2031

      2,555,000        2,096,400  

Corporate Office Properties LP

      

2.00%, 01/15/2029

      879,000        719,677  

2.25%, 03/15/2026

      1,251,000        1,141,179  

EPR Properties

      

3.75%, 08/15/2029

      2,420,000        2,091,748  

HAT Holdings I LLC / HAT Holdings II LLC

      

3.38%, 06/15/2026 (A)

      1,830,000        1,604,077  

Invitation Homes Operating Partnership LP

      

4.15%, 04/15/2032

      1,602,000        1,504,641  

Iron Mountain, Inc.

      

5.25%, 03/15/2028 (A)

      3,028,000        2,891,740  

iStar, Inc.

      

4.25%, 08/01/2025

      708,000        675,255  

5.50%, 02/15/2026

      3,496,000        3,432,738  

Office Properties Income Trust

      

3.45%, 10/15/2031

      2,556,000        1,822,991  

Physicians Realty LP

      

2.63%, 11/01/2031

      2,095,000        1,747,342  

SBA Tower Trust

      

1.63%, 05/15/2051 (A)

      1,660,000        1,505,533  

2.84%, 01/15/2050 (A)

      6,883,000        6,657,486  

3.45%, 03/15/2048 (A)

      995,000        987,036  

Simon Property Group LP

      

2.20%, 02/01/2031 (E)

      2,546,000        2,141,776  

VICI Properties LP

      

4.95%, 02/15/2030

      3,802,000        3,723,551  

Weyerhaeuser Co.

      

4.00%, 04/15/2030

      2,433,000        2,366,710  
     

 

 

  
        37,109,880  
     

 

 

  
Food & Staples Retailing - 0.8%  

7-Eleven, Inc.

      

1.80%, 02/10/2031 (A)

      3,318,000        2,708,322  

Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP

      

4.63%, 01/15/2027 (A)

      3,613,000        3,412,268  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Food & Staples Retailing (continued)  

InRetail Consumer

      

3.25%, 03/22/2028 (A)

      $   3,042,000        $   2,524,860  

Sysco Corp.

      

5.95%, 04/01/2030

      2,267,000        2,498,957  
     

 

 

  
        11,144,407  
     

 

 

  
Food Products - 0.9%  

Bunge Ltd. Finance Corp.

      

1.63%, 08/17/2025

      2,035,000        1,903,864  

2.75%, 05/14/2031

      3,156,000        2,725,071  

JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.

      

3.00%, 02/02/2029 (A)

      2,556,000        2,200,286  

Pilgrim’s Pride Corp.

      

3.50%, 03/01/2032 (A)

      3,473,000        2,932,514  

Post Holdings, Inc.

      

4.63%, 04/15/2030 (A)

      680,000        609,797  

5.50%, 12/15/2029 (A)

      1,504,000        1,425,897  

5.63%, 01/15/2028 (A)

      800,000        788,000  
     

 

 

  
        12,585,429  
     

 

 

  
Health Care Equipment & Supplies - 0.5%  

Alcon Finance Corp.

      

2.75%, 09/23/2026 (A)

      2,053,000        1,948,447  

Boston Scientific Corp.

      

4.70%, 03/01/2049

      529,000        533,220  

Medline Borrower LP

      

3.88%, 04/01/2029 (A)

      1,943,000        1,755,986  

5.25%, 10/01/2029 (A) (E)

      489,000        440,100  

Stryker Corp.

      

1.95%, 06/15/2030

      2,312,000        1,995,660  
     

 

 

  
        6,673,413  
     

 

 

  
Health Care Providers & Services - 2.0%  

Centene Corp.

      

3.00%, 10/15/2030

      1,171,000        1,045,164  

3.38%, 02/15/2030

      3,806,000        3,458,865  

4.25%, 12/15/2027

      1,047,000        1,029,986  

CHS / Community Health Systems, Inc.

      

5.25%, 05/15/2030 (A)

      1,927,000        1,618,680  

8.00%, 03/15/2026 (A)

      425,000        402,471  

Cigna Corp.

      

2.40%, 03/15/2030

      2,085,000        1,870,242  

CVS Health Corp.

      

4.78%, 03/25/2038

      2,957,000        2,978,381  

Elevance Health, Inc.

      

2.25%, 05/15/2030

      2,121,000        1,886,271  

HCA, Inc.

      

4.13%, 06/15/2029

      1,566,000        1,508,984  

7.50%, 11/06/2033

      1,031,000        1,179,309  

Laboratory Corp. of America Holdings

      

2.95%, 12/01/2029

      1,695,000        1,565,390  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (A)

      3,344,000        3,218,600  

Tenet Healthcare Corp.

      

5.13%, 11/01/2027 (A)

      1,400,000        1,379,000  

UnitedHealth Group, Inc.

      

4.20%, 05/15/2032

      2,971,000        3,108,885  
     

 

 

  
        26,250,228  
     

 

 

  
Hotels, Restaurants & Leisure - 2.2%  

Boyd Gaming Corp.

      

4.75%, 12/01/2027 (E)

      849,000        815,796  

Boyne USA, Inc.

      

4.75%, 05/15/2029 (A)

      999,000        935,314  
 

 

Transamerica Funds

     Page    5         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Hotels, Restaurants & Leisure (continued)  

Expedia Group, Inc.

      

2.95%, 03/15/2031

      $  846,000        $  699,246  

3.80%, 02/15/2028

      1,761,000        1,642,555  

GLP Capital LP / GLP Financing II, Inc.

      

4.00%, 01/15/2030

      2,357,000        2,132,603  

Hilton Domestic Operating Co., Inc.

      

3.75%, 05/01/2029 (A)

      3,099,000        2,806,082  

Hyatt Hotels Corp.

      

1.80%, 10/01/2024

      1,368,000        1,294,732  

International Game Technology PLC

      

6.50%, 02/15/2025 (A)

      2,792,000        2,837,370  

Magallanes, Inc.

      

5.05%, 03/15/2042 (A)

      2,861,000        2,562,236  

Marriott International, Inc.

      

2.75%, 10/15/2033

      2,965,000        2,431,142  

5.75%, 05/01/2025

      292,000        304,618  

MGM Resorts International

      

4.75%, 10/15/2028

      1,627,000        1,472,687  

5.75%, 06/15/2025

      753,000        746,347  

NCL Corp. Ltd.

      

5.88%, 03/15/2026 (A)

      3,416,000        2,785,987  

Royal Caribbean Cruises Ltd.

      

5.50%, 04/01/2028 (A) (E)

      1,364,000        1,029,820  

Scientific Games International, Inc.

      

7.00%, 05/15/2028 (A)

      699,000        711,030  

7.25%, 11/15/2029 (A) (E)

      796,000        809,930  

Viking Cruises Ltd.

      

5.88%, 09/15/2027 (A)

      4,525,000        3,682,490  
     

 

 

  
        29,699,985  
     

 

 

  
Household Durables - 0.3%  

Century Communities, Inc.

      

3.88%, 08/15/2029 (A)

      2,383,000        2,028,945  

6.75%, 06/01/2027

      1,319,000        1,340,447  

KB Home

      

7.63%, 05/15/2023

      795,000        801,239  
     

 

 

  
        4,170,631  
     

 

 

  
Independent Power & Renewable Electricity Producers - 0.3%  

Calpine Corp.

      

3.75%, 03/01/2031 (A)

      4,515,000        4,007,853  
     

 

 

  
Insurance - 1.9%  

AXA SA

      

8.60%, 12/15/2030

      3,593,000        4,377,918  

Cloverie PLC for Zurich Insurance Co. Ltd.

      

Fixed until 06/24/2026,
5.63% (B), 06/24/2046 (D)

      6,400,000        6,448,000  

Global Atlantic Finance Co.

      

Fixed until 07/15/2026,
4.70% (B), 10/15/2051 (A)

      5,907,000        4,885,353  

Muenchener Rueckversicherungs-Gesellschaft AG

      

Fixed until 11/23/2031,
5.88% (B), 05/23/2042 (A)

      1,800,000        1,874,322  

Ohio National Financial Services, Inc.

      

6.05%, 01/24/2030 (A)

      5,254,000        5,149,411  

6.63%, 05/01/2031 (A)

      1,451,000        1,495,035  

Prudential Financial, Inc.

      

Fixed until 07/01/2030,
3.70% (B), 10/01/2050

      1,788,000        1,564,024  
     

 

 

  
        25,794,063  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Interactive Media & Services - 0.3%  

Baidu, Inc.

      

4.38%, 05/14/2024 (E)

      $  2,436,000        $  2,458,454  

Tencent Holdings Ltd.

      

3.28%, 04/11/2024 (A)

      1,686,000        1,673,119  
     

 

 

  
        4,131,573  
     

 

 

  
IT Services - 0.2%  

Gartner, Inc.

      

4.50%, 07/01/2028 (A)

      413,000        396,712  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (A) (E)

      2,584,000        2,137,050  
     

 

 

  
        2,533,762  
     

 

 

  
Leisure Products - 0.0% (F)  

Mattel, Inc.

      

5.88%, 12/15/2027 (A)

      360,000        368,100  
     

 

 

  
Life Sciences Tools & Services - 0.1%  

Charles River Laboratories International, Inc.

      

4.00%, 03/15/2031 (A)

      846,000        774,019  
     

 

 

  
Marine - 0.2%  

MV24 Capital BV

      

6.75%, 06/01/2034 (A)

      3,355,598        3,084,532  
     

 

 

  
Media - 1.3%  

Charter Communications Operating LLC / Charter Communications Operating Capital

      

5.13%, 07/01/2049

      3,691,000        3,177,954  

Clear Channel Outdoor Holdings, Inc.

      

5.13%, 08/15/2027 (A)

      1,443,000        1,338,123  

7.50%, 06/01/2029 (A) (E)

      1,392,000        1,110,582  

Comcast Corp.

      

4.15%, 10/15/2028

      3,261,000        3,342,644  

CSC Holdings LLC

      

4.50%, 11/15/2031 (A)

      2,454,000        2,073,630  

4.63%, 12/01/2030 (A)

      1,217,000        924,920  

Diamond Sports Group LLC / Diamond Sports Finance Co.

      

5.38%, 08/15/2026 (A)

      1,040,000        228,800  

6.63%, 08/15/2027 (A)

      690,000        63,825  

Directv Financing LLC / Directv Financing Co-Obligor, Inc.

      

5.88%, 08/15/2027 (A)

      1,031,000        963,181  

DISH DBS Corp.

      

5.00%, 03/15/2023

      1,500,000        1,471,875  

Paramount Global

      

4.20%, 05/19/2032

      1,611,000        1,472,133  

VZ Secured Financing BV

      

5.00%, 01/15/2032 (A)

      1,917,000        1,709,600  
     

 

 

  
        17,877,267  
     

 

 

  
Metals & Mining - 0.5%  

Freeport-McMoRan, Inc.

      

3.88%, 03/15/2023

      3,900,000        3,885,710  

Glencore Funding LLC

      

2.63%, 09/23/2031 (A)

      2,750,000        2,261,290  

Novelis Corp.

      

3.25%, 11/15/2026 (A)

      236,000        219,612  

3.88%, 08/15/2031 (A)

      236,000        201,780  
     

 

 

  
        6,568,392  
     

 

 

  
 

 

Transamerica Funds

     Page    6         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Multi-Utilities - 0.2%  

Black Hills Corp.

      

3.15%, 01/15/2027 (E)

      $   1,874,000        $   1,805,674  

4.25%, 11/30/2023

      1,419,000        1,425,718  
     

 

 

  
        3,231,392  
     

 

 

  
Oil, Gas & Consumable Fuels - 3.6%  

Antero Midstream Partners LP / Antero Midstream Finance Corp.

      

5.38%, 06/15/2029 (A)

      1,175,000        1,147,852  

7.88%, 05/15/2026 (A)

      2,739,000        2,866,829  

Boardwalk Pipelines LP

      

3.40%, 02/15/2031

      1,514,000        1,337,020  

Cheniere Energy Partners LP

      

4.00%, 03/01/2031

      4,568,000        4,231,407  

4.50%, 10/01/2029

      1,735,000        1,680,929  

Chevron USA, Inc.

      

3.25%, 10/15/2029

      1,773,000        1,734,092  

Energy Transfer LP

      

6.00%, 06/15/2048

      4,602,000        4,548,582  

EnLink Midstream Partners LP

      

5.05%, 04/01/2045

      1,095,000        807,289  

EQM Midstream Partners LP

      

6.50%, 07/15/2048

      2,310,000        1,939,337  

Exxon Mobil Corp.

      

3.04%, 03/01/2026

      2,435,000        2,428,298  

NuStar Logistics LP

      

5.63%, 04/28/2027

      2,000,000        1,912,740  

5.75%, 10/01/2025

      950,000        918,840  

6.00%, 06/01/2026

      350,000        344,053  

Occidental Petroleum Corp.

      

5.55%, 03/15/2026

      5,870,000        6,031,425  

ONEOK Partners LP

      

4.90%, 03/15/2025

      1,134,000        1,148,969  

Petroleos Mexicanos

      

6.50%, 01/23/2029 (E)

      3,507,000        3,007,638  

6.84%, 01/23/2030

      2,838,000        2,371,149  

6.88%, 10/16/2025

      2,440,000        2,392,093  

7.69%, 01/23/2050

      1,593,000        1,160,899  

Pioneer Natural Resources Co.

      

2.15%, 01/15/2031

      2,518,000        2,158,716  

Plains All American Pipeline LP / PAA Finance Corp.

      

3.55%, 12/15/2029

      1,710,000        1,546,912  

Southwestern Energy Co.

      

5.38%, 03/15/2030

      655,000        644,477  

Targa Resources Partners LP / Targa Resources Partners Finance Corp.

      

4.00%, 01/15/2032

      1,723,000        1,537,743  
     

 

 

  
        47,897,289  
     

 

 

  
Paper & Forest Products - 0.1%  

Celulosa Arauco y Constitucion SA

      

5.50%, 04/30/2049 (A) (E)

      1,560,000        1,308,450  
     

 

 

  
Pharmaceuticals - 0.7%  

Astrazeneca Finance LLC

      

1.20%, 05/28/2026

      2,543,000        2,347,814  

Bausch Health Cos., Inc.

      

5.00%, 02/15/2029 (A)

      970,000        489,976  

5.25%, 01/30/2030 - 02/15/2031 (A)

      3,724,000        1,931,463  

6.25%, 02/15/2029 (A)

      520,000        278,200  

7.00%, 01/15/2028 (A)

      617,000        342,435  

Bayer US Finance II LLC

      

4.38%, 12/15/2028 (A)

      1,559,000        1,552,824  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Pharmaceuticals (continued)  

Royalty Pharma PLC

      

2.20%, 09/02/2030

      $   2,249,000        $   1,901,683  

Viatris, Inc.

      

2.30%, 06/22/2027

      1,187,000        1,035,673  
     

 

 

  
        9,880,068  
     

 

 

  
Professional Services - 0.1%  

Equifax, Inc.

      

2.60%, 12/01/2024

      1,680,000        1,630,086  
     

 

 

  
Road & Rail - 0.9%  

Avolon Holdings Funding Ltd.

      

2.88%, 02/15/2025 (A)

      3,386,000        3,131,463  

5.50%, 01/15/2026 (A)

      4,641,000        4,505,342  

Burlington Northern Santa Fe LLC

      

4.45%, 01/15/2053

      4,355,000        4,492,139  
     

 

 

  
        12,128,944  
     

 

 

  
Semiconductors & Semiconductor Equipment - 1.6%  

Advanced Micro Devices, Inc.

      

3.92%, 06/01/2032

      3,311,000        3,368,445  

Broadcom, Inc.

      

1.95%, 02/15/2028 (A)

      1,219,000        1,071,916  

KLA Corp.

      

4.10%, 03/15/2029

      2,500,000        2,569,706  

Microchip Technology, Inc.

      

0.98%, 09/01/2024

      2,433,000        2,281,474  

Micron Technology, Inc.

      

2.70%, 04/15/2032

      3,259,000        2,700,036  

QUALCOMM, Inc.

      

3.25%, 05/20/2027

      1,698,000        1,699,124  

3.25%, 05/20/2050 (E)

      1,428,000        1,238,210  

Skyworks Solutions, Inc.

      

1.80%, 06/01/2026

      1,359,000        1,232,016  

TSMC Global Ltd.

      

1.38%, 09/28/2030 (A)

      6,595,000        5,361,733  
     

 

 

  
        21,522,660  
     

 

 

  
Software - 1.1%  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029 (E)

      583,000        532,530  

Infor, Inc.

      

1.75%, 07/15/2025 (A)

      2,364,000        2,214,848  

NCR Corp.

      

5.00%, 10/01/2028 (A)

      695,000        661,109  

5.13%, 04/15/2029 (A)

      1,572,000        1,509,238  

5.25%, 10/01/2030 (A)

      2,183,000        2,106,224  

Take-Two Interactive Software, Inc.

      

3.55%, 04/14/2025

      3,675,000        3,645,432  

Workday, Inc.

      

3.50%, 04/01/2027

      3,475,000        3,406,561  
     

 

 

  
        14,075,942  
     

 

 

  
Specialty Retail - 0.2%  

Gap, Inc.

      

3.63%, 10/01/2029 (A) (E)

      494,000        362,324  

3.88%, 10/01/2031 (A) (E)

      494,000        355,680  

Lowe’s Cos., Inc.

      

3.75%, 04/01/2032 (E)

      2,608,000        2,535,464  
     

 

 

  
        3,253,468  
     

 

 

  
Technology Hardware, Storage & Peripherals - 0.6%  

Apple, Inc.

      

2.85%, 02/23/2023

      1,092,000        1,090,598  

Dell International LLC / EMC Corp.

      

6.02%, 06/15/2026

      3,188,000        3,386,590  
 

 

Transamerica Funds

     Page    7         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Technology Hardware, Storage & Peripherals (continued)  

Seagate HDD Cayman

      

4.13%, 01/15/2031

      $   402,000        $   349,177  

Western Digital Corp.

      

2.85%, 02/01/2029

      3,952,000        3,334,500  
     

 

 

  
        8,160,865  
     

 

 

  
Tobacco - 0.5%  

BAT Capital Corp.

      

2.26%, 03/25/2028

      5,410,000        4,635,531  

4.91%, 04/02/2030

      1,903,000        1,813,008  

Reynolds American, Inc.

      

7.25%, 06/15/2037

      439,000        471,328  
     

 

 

  
        6,919,867  
     

 

 

  
Trading Companies & Distributors - 0.1%  

Air Lease Corp.

      

3.25%, 03/01/2025

      1,116,000        1,078,820  
     

 

 

  
Wireless Telecommunication Services - 0.7%  

Altice France SA

      

5.50%, 10/15/2029 (A)

      1,320,000        1,139,543  

Sprint Corp.

      

7.88%, 09/15/2023

      2,510,000        2,600,322  

T-Mobile USA, Inc.

      

3.50%, 04/15/2031

      2,000,000        1,851,630  

3.88%, 04/15/2030

      1,419,000        1,365,906  

Vmed O2 Financing I PLC

      

4.75%, 07/15/2031 (A)

      2,500,000        2,262,500  
     

 

 

  
        9,219,901  
     

 

 

  

Total Corporate Debt Securities
(Cost $698,665,101)

 

      634,294,535  
  

 

 

  
FOREIGN GOVERNMENT OBLIGATIONS - 0.7%  
Colombia - 0.1%  

Colombia Government International Bond

      

4.50%, 01/28/2026

      1,300,000        1,245,247  
     

 

 

  
Dominican Republic - 0.1%  

Dominican Republic International Bond

      

4.88%, 09/23/2032 (A)

      782,000        657,639  

5.50%, 01/27/2025 (D)

      1,122,000        1,118,961  
     

 

 

  
        1,776,600  
     

 

 

  
Ecuador - 0.1%  

Ecuador Government International Bond

      

Zero Coupon, 07/31/2030 (A)

      119,808        50,477  

1.50% (G), 07/31/2040 (A)

      435,840        179,340  

2.50% (G), 07/31/2035 (A)

      950,976        429,931  

5.50% (G), 07/31/2030 (A)

      362,880        217,497  
     

 

 

  
        877,245  
     

 

 

  
Mongolia - 0.0% (F)  

Mongolia Government International Bond

      

5.63%, 05/01/2023 (A)

      253,000        247,940  
     

 

 

  
Qatar - 0.2%  

Qatar Government International Bond

      

3.88%, 04/23/2023 (A)

      2,657,000        2,663,594  
     

 

 

  
Uzbekistan - 0.2%  

Republic of Uzbekistan International Bond

      

3.90%, 10/19/2031 (A)

      3,049,000        2,231,624  
     

 

 

  

Total Foreign Government Obligations
(Cost $10,588,390)

 

      9,042,250  
  

 

 

  
     Principal      Value  
LOAN ASSIGNMENT - 0.4%  
Commercial Services & Supplies - 0.4%  

Spin Holdco, Inc.

      

Term Loan,

      

3-Month LIBOR + 4.00%,
5.61% (B), 03/04/2028

      
     $   6,263,393        $   5,767,019  
     

 

 

  

Total Loan Assignment
(Cost $6,225,001)

 

      5,767,019  
  

 

 

  
MORTGAGE-BACKED SECURITIES - 13.1%  

20 Times Square Trust

      

Series 2018-20TS, Class C,

      

3.10% (B), 05/15/2035 (A)

      2,400,000        2,329,134  

280 Park Avenue Mortgage Trust

      

Series 2017-280P, Class E,

      

1-Month LIBOR + 2.12%,
3.99% (B), 09/15/2034 (A)

      4,630,000        4,213,337  

Alternative Loan Trust

      

Series 2005-14, Class 2A1,

      

1-Month LIBOR + 0.42%,
2.68% (B), 05/25/2035

      467,934        424,825  

Series 2005-14, Class 4A1,

      

1-Month LIBOR + 0.44%,
2.70% (B), 05/25/2035

      759,931        692,310  

Series 2006-OC1, Class 2A3A,

      

1-Month LIBOR + 0.64%,
2.90% (B), 03/25/2036

      911,311        847,981  

American Home Mortgage Assets Trust

      

Series 2007-2, Class A1,

      

1-Month LIBOR + 0.13%,
2.38% (B), 03/25/2047

      293,430        265,569  

Ashford Hospitality Trust

      

Series 2018-ASHF, Class D,

      

1-Month LIBOR + 2.10%,
4.10% (B), 04/15/2035 (A)

      3,988,000        3,730,591  

Austin Fairmont Hotel Trust

      

Series 2019-FAIR, Class D,

      

1-Month LIBOR + 1.80%,
3.80% (B), 09/15/2032 (A)

      5,000,000        4,748,227  

BAMLL Commercial Mortgage Securities Trust

      

Series 2019-BPR, Class BNM,

      

3.47%, 11/05/2032 (A)

      5,000,000        4,473,087  

Series 2019-BPR, Class CNM,

      

3.72% (B), 11/05/2032 (A)

      3,970,000        3,369,195  

Banc of America Funding Trust

      

Series 2007-3, Class TA2,

      

1-Month LIBOR + 0.18%,
2.44% (B), 04/25/2037

      190,772        178,431  

BBCMS Mortgage Trust

      

Series 2017-DELC, Class C,

      

1-Month LIBOR + 1.20%,
3.20% (B), 08/15/2036 (A)

      2,339,000        2,274,198  

Series 2017-DELC, Class D,

      

1-Month LIBOR + 1.70%,
3.70% (B), 08/15/2036 (A)

      2,130,000        2,059,897  

Series 2017-DELC, Class E,

      

1-Month LIBOR + 2.50%,
4.50% (B), 08/15/2036 (A)

      1,890,000        1,811,622  
 

 

Transamerica Funds

     Page    8         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

BBCMS Mortgage Trust (continued)

      

Series 2018-TALL, Class C,

      

1-Month LIBOR + 1.12%,
3.12% (B), 03/15/2037 (A)

      $   7,065,000        $   6,412,636  

Series 2018-TALL, Class E,

      

1-Month LIBOR + 2.44%,
4.44% (B), 03/15/2037 (A)

      2,570,000        2,156,619  

BBCMS Trust

      

Series 2015-MSQ, Class B,

      

3.89%, 09/15/2032 (A)

      1,300,000        1,295,838  

BX Commercial Mortgage Trust

      

Series 2019-XL, Class D,

      

1-Month LIBOR + 1.45%,
3.45% (B), 10/15/2036 (A)

      3,769,750        3,674,891  

Series 2020-VKNG, Class D,

      

1-Month LIBOR + 1.70%,
3.70% (B), 10/15/2037 (A)

      3,203,660        3,040,604  

BXP Trust

      

Series 2017-CQHP, Class D,

      

1-Month LIBOR + 2.00%,
4.00% (B), 11/15/2034 (A)

      1,825,000        1,663,992  

CHL Mortgage Pass-Through Trust

      

Series 2005-11, Class 4A1,

      

1-Month LIBOR + 0.27%,
2.53% (B), 04/25/2035

      92,643        84,937  

Series 2006-3, Class 3A1,

      

1-Month LIBOR + 0.50%,
2.76% (B), 02/25/2036

      2,439,699        2,201,419  

CIM Trust

      

Series 2021-R6, Class A1,

      

1.43% (B), 07/25/2061 (A)

      6,520,359        5,963,344  

Citigroup Mortgage Loan Trust, Inc.

      

Series 2014-A, Class A,

      

4.00% (B), 01/25/2035 (A)

      42,448        41,731  

Series 2015-PS1, Class A1,

      

3.75% (B), 09/25/2042 (A)

      266,411        258,534  

CLNY Trust

      

Series 2019-IKPR, Class C,

      

1-Month LIBOR + 1.68%,
3.68% (B), 11/15/2038 (A)

      5,700,000        5,356,114  

Commercial Mortgage Pass-Through Certificates Trust

      

Series 2012-LTRT, Class A2,

      

3.40%, 10/05/2030 (A)

      2,225,000        2,091,500  

CORE Mortgage Trust

      

Series 2019-CORE, Class C,

      

1-Month LIBOR + 1.30%,
3.30% (B), 12/15/2031 (A)

      2,295,200        2,201,766  

CSMC Trust

      

Series 2014-11R, Class 17A1,

      

1-Month LIBOR + 0.15%,
1.16% (B), 12/27/2036 (A)

      153,543        151,452  

Series 2020-RPL4, Class A1,

      

2.00% (B), 01/25/2060 (A)

      6,798,795        6,309,382  

Series 2021-RPL2, Class A1A,

      

1.11% (B), 01/25/2060 (A)

      6,466,656        5,661,776  

Series 2021-RPL3, Class A1,

      

2.00% (B), 01/25/2060 (A)

      2,458,254        2,312,898  

Series 2021-RPL6, Class A1,

      

2.00% (B), 10/25/2060 (A)

      4,507,667        4,153,458  

Fontainebleau Miami Beach Trust

      

Series 2019-FBLU, Class D,

      

3.96% (B), 12/10/2036 (A)

      7,902,000        7,550,717  
     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

Great Wolf Trust

      

Series 2019-WOLF, Class C,

      

1-Month LIBOR + 1.63%,
3.63% (B), 12/15/2036 (A)

      $   6,222,000        $   5,940,229  

GS Mortgage Securities Corp. Trust

      

Series 2017-SLP, Class B,

      

3.77%, 10/10/2032 (A)

      5,242,000        5,220,095  

GS Mortgage Securities Trust

      

Series 2013-G1, Class A2,

      

3.56% (B), 04/10/2031 (A)

      2,000,000        1,979,569  

GSCG Trust

      

Series 2019-600C, Class B,

      

3.16%, 09/06/2034 (A)

      1,660,000        1,567,121  

Series 2019-600C, Class C,

      

3.46%, 09/06/2034 (A)

      4,480,000        4,180,878  

GSR Mortgage Loan Trust

      

Series 2007-OA1, Class 2A1,

      

1-Month LIBOR + 0.13%,
2.38% (B), 05/25/2037

      153,353        84,720  

ILPT Trust

      

Series 2019-SURF, Class C,

      

4.29% (B), 02/11/2041 (A)

      1,930,000        1,698,751  

IndyMac INDX Mortgage Loan Trust

      

Series 2007-AR15, Class 2A1,

      

3.26% (B), 08/25/2037

      617,626        505,800  

InTown Hotel Portfolio Trust

      

Series 2018-STAY, Class C,

      

1-Month LIBOR + 1.65%,
3.65% (B), 01/15/2033 (A)

      3,835,000        3,779,989  

JPMorgan Chase Commercial Mortgage Securities Trust

      

Series 2020-NNN, Class CFX,

      

3.27%, 01/16/2037 (A)

      2,675,000        2,487,516  

Series 2022-NLP, Class C,

      

1-Month SOFR + 1.48%,
3.44% (B), 04/15/2037 (A)

      1,600,000        1,495,768  

MBRT

      

Series 2019-MBR, Class D,

      

1-Month LIBOR + 1.95%,
3.95% (B), 11/15/2036 (A)

      3,033,000        2,910,939  

Merrill Lynch Mortgage Investors Trust

      

Series 2006-A1, Class 1A1,

      

2.69% (B), 03/25/2036

      798,455        548,754  

MetLife Securitization Trust

      

Series 2019-1A, Class A1A,

      

3.75% (B), 04/25/2058 (A)

      535,136        528,818  

Mill City Mortgage Loan Trust

      

Series 2019-1, Class A1,

      

3.25% (B), 10/25/2069 (A)

      4,877,680        4,734,935  

MSCG Trust

      

Series 2018-SELF, Class C,

      

1-Month LIBOR + 1.18%,
3.18% (B), 10/15/2037 (A)

      1,375,000        1,326,578  

Series 2018-SELF, Class D,

      

1-Month LIBOR + 1.65%,
3.65% (B), 10/15/2037 (A)

      5,710,000        5,494,566  

New Residential Mortgage Loan Trust

      

Series 2016-2A, Class A1,

      

3.75% (B), 11/26/2035 (A)

      359,450        348,396  

Series 2017-1A, Class A1,

      

4.00% (B), 02/25/2057 (A)

      1,378,809        1,363,723  

Series 2017-2A, Class A3,

      

4.00% (B), 03/25/2057 (A)

      6,175,360        6,090,657  
 

 

Transamerica Funds

     Page    9         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

New Residential Mortgage Loan Trust (continued)

 

Series 2017-3A, Class A1,

      

4.00% (B), 04/25/2057 (A)

      $   600,638        $   593,153  

Series 2018-2A, Class A1,

      

4.50% (B), 02/25/2058 (A)

      396,933        393,986  

Series 2018-RPL1, Class A1,

      

3.50% (B), 12/25/2057 (A)

      2,220,195        2,171,170  

Series 2019-2A, Class A1,

      

4.25% (B), 12/25/2057 (A)

      1,553,542        1,535,556  

Series 2019-3A, Class A1A,

      

3.75% (B), 11/25/2058 (A)

      4,158,981        4,044,341  

Series 2019-5A, Class A1B,

      

3.50% (B), 08/25/2059 (A)

      4,361,494        4,275,997  

Series 2019-6A, Class A1B,

      

3.50% (B), 09/25/2059 (A)

      4,216,439        4,043,130  

Series 2019-RPL2, Class A1,

      

3.25% (B), 02/25/2059 (A)

      2,772,186        2,692,090  

RALI Trust

      

Series 2006-QO1, Class 3A1,

      

1-Month LIBOR + 0.54%,
2.80% (B), 02/25/2046

      2,595,118        1,386,563  

Series 2007-QH5, Class AI1,

      

1-Month LIBOR + 0.42%,
2.68% (B), 06/25/2037

      119,665        110,894  

Residential Asset Securitization Trust

      

Series 2004-A4, Class A11,

      

5.50%, 08/25/2034

      1,504,307        1,477,129  

Tharaldson Hotel Portfolio Trust

      

Series 2018-THL, Class C,

      

1-Month LIBOR + 1.65%,
3.44% (B), 11/11/2034 (A)

      1,405,489        1,318,897  

VNDO Mortgage Trust

      

Series 2012-6AVE, Class E,

      

3.34% (B), 11/15/2030 (A)

      4,000,000        3,992,834  
     

 

 

  

Total Mortgage-Backed Securities
(Cost $185,332,896)

 

      174,325,554  
  

 

 

  
U.S. GOVERNMENT AGENCY OBLIGATIONS - 3.2%  

Federal Home Loan Mortgage Corp., Interest Only STRIPS

      

5.00%, 08/01/2035

      419,219        72,989  

Uniform Mortgage-Backed Security

      

2.00%, TBA (H)

      15,483,000        13,943,772  

2.50%, TBA (H)

      12,377,000        11,548,149  

3.00%, TBA (H)

      6,414,000        6,185,501  

3.50%, TBA (H)

      3,708,000        3,674,328  

4.00%, TBA (H)

      7,692,000        7,735,869  
     

 

 

  

Total U.S. Government Agency Obligations
(Cost $42,265,327)

 

      43,160,608  
  

 

 

  
U.S. GOVERNMENT OBLIGATIONS - 17.9%  
U.S. Treasury - 16.7%  

U.S. Treasury Bond

      

1.25%, 05/15/2050

      23,890,000        15,811,260  

1.88%, 02/15/2051

      4,857,000        3,782,578  

2.00%, 02/15/2050

      6,987,000        5,622,079  

2.25%, 05/15/2041 - 08/15/2049

      31,913,900        27,002,870  

2.38%, 02/15/2042

      21,892,000        19,230,754  

2.50%, 05/15/2046

      9,450,000        8,278,717  

2.75%, 08/15/2042 - 11/15/2047

      48,742,000        45,126,330  

2.88%, 11/15/2046 - 05/15/2049

      12,716,200        12,141,256  

3.00%, 08/15/2048 - 02/15/2049

      9,386,000        9,178,468  

3.13%, 05/15/2048

      1,568,000        1,566,040  

3.25%, 05/15/2042

      11,552,000        11,667,520  
     Principal      Value  
U.S. GOVERNMENT OBLIGATIONS (continued)  
U.S. Treasury (continued)  

U.S. Treasury Note

      

1.25%, 08/15/2031

      $   1,499,000        $   1,333,524  

1.38%, 11/15/2031

      6,618,000        5,934,485  

1.50%, 01/31/2027

      5,030,000        4,770,248  

1.88%, 02/15/2032

      28,946,400        27,078,453  

2.50%, 05/31/2024 (E)

      1,381,000        1,370,481  

2.75%, 05/15/2025

      3,784,000        3,773,062  

2.88%, 05/15/2032

      19,312,000        19,695,222  
     

 

 

  
        223,363,347  
     

 

 

  
U.S. Treasury Inflation-Protected Securities - 1.2%  

U.S. Treasury Inflation-Protected Indexed Bond

      

0.25%, 02/15/2050

      12,222,136        10,588,858  

U.S. Treasury Inflation-Protected Indexed Note

      

0.13%, 07/15/2030

      4,952,875        4,970,046  
     

 

 

  
        15,558,904  
     

 

 

  

Total U.S. Government Obligations
(Cost $260,754,347)

 

      238,922,251  
  

 

 

  
     Shares      Value  
COMMON STOCK - 0.0%  
Building Products - 0.0%  

Associated Materials LLC / AMH New Finance, Inc. (I) (J) (K) (L)

      316,064        0  
     

 

 

  

Total Common Stock
(Cost $0)

 

      0  
  

 

 

  
     Principal      Value  
COMMERCIAL PAPER - 2.8%  
Banks - 1.5%  

Macquarie Bank Ltd.

      

1.77% (M), 09/01/2022

      $  4,050,000        4,040,854  

Svenska Handelsbanken AB

      

1.73% (M), 08/12/2022

      15,000,000        14,986,490  

Swedbank AB

      

1.40% (M), 08/01/2022

      700,000        699,868  
     

 

 

  
        19,727,212  
     

 

 

  
Diversified Financial Services - 1.1%  

Atlantic Asset Securitization LLC

      

1.43% (M), 08/17/2022

      500,000        499,384  

CAFCO LLC

      

3.02% (M), 11/09/2022

      500,000        495,841  

Cancara Asset Securitisation LLC

      

1.42% (M), 08/16/2022

      1,400,000        1,398,353  

Ridgefield Funding Co. LLC

      

1.76% (M), 09/12/2022

      2,000,000        1,993,863  

Sheffield Receivables Co. LLC

      

1.68% (M), 09/07/2022

      11,000,000        10,969,481  
     

 

 

  
        15,356,922  
     

 

 

  
Electrical Equipment - 0.2%  

Emerson Electric Co.

      

2.32% (M), 09/01/2022

      2,637,000        2,631,187  
     

 

 

  

Total Commercial Paper
(Cost $37,736,421)

 

      37,715,321  
  

 

 

  
 

 

Transamerica Funds

     Page    10         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.5%  

U.S. Treasury Bill

      

1.26% (M), 09/08/2022 (E)

      $   1,131,000        $   1,128,489  

1.36% (M), 09/08/2022 (E)

      3,265,000        3,257,750  

2.19% (M), 09/29/2022

      1,604,000        1,598,282  
     

 

 

  

Total Short-Term U.S. Government Obligations
(Cost $5,987,940)

 

      5,984,521  
  

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 0.9%  
Securities Lending Collateral - 0.9%  

State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 2.27% (M)

      12,150,653        12,150,653  
     

 

 

  

Total Other Investment Company
(Cost $12,150,653)

 

      12,150,653  
  

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 2.0%  

Fixed Income Clearing Corp., 0.65% (M), dated 07/29/2022, to be repurchased at $26,268,975 on 08/01/2022. Collateralized by a U.S. Government Obligation, 3.00%, due 07/15/2025, and with a value of $26,792,967.

      $  26,267,553        $   26,267,553  
     

 

 

  

Total Repurchase Agreement
(Cost $26,267,553)

 

      26,267,553  
  

 

 

  

Total Investments
(Cost $1,491,083,935)

 

      1,382,515,407  

Net Other Assets (Liabilities) - (3.6)%

         (47,812,137 ) 
     

 

 

  

Net Assets - 100.0%

         $  1,334,703,270  
     

 

 

  
 

 

FUTURES CONTRACTS:

 

Long Futures Contracts

 

 

Description

    Number of
Contracts		    Expiration
Date		    Notional
Amount		    Value    Unrealized
Appreciation		    Unrealized
Depreciation

U.S. Treasury Ultra Bond

        1        09/21/2022      $     159,222      $     158,313      $     —        $     (909 )

INVESTMENT VALUATION:

 

Valuation Inputs (N)

 

     Level 1 -
Unadjusted
Quoted
Prices		     Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs (O)		      Value  

ASSETS

 

Investments

 

Asset-Backed Securities

    $ —       $ 194,885,142      $ —        $ 194,885,142  

Corporate Debt Securities

      —         634,294,535        —          634,294,535  

Foreign Government Obligations

      —         9,042,250        —          9,042,250  

Loan Assignment

      —         5,767,019        —          5,767,019  

Mortgage-Backed Securities

      —         174,325,554        —          174,325,554  

U.S. Government Agency Obligations

      —         43,160,608        —          43,160,608  

U.S. Government Obligations

      —         238,922,251        —          238,922,251  

Common Stock

      —         —          0        0  

Commercial Paper

      —         37,715,321        —          37,715,321  

Short-Term U.S. Government Obligations

      —         5,984,521        —          5,984,521  

Other Investment Company

      12,150,653       —          —          12,150,653  

Repurchase Agreement

      —         26,267,553        —          26,267,553  
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Investments

    $     12,150,653     $     1,370,364,754      $ 0      $     1,382,515,407  
  

 

 

    

 

 

     

 

 

     

 

 

  

LIABILITIES

 

Other Financial Instruments

 

Futures Contracts (P)

    $ (909 )    $ —        $ —        $ (909 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Total Other Financial Instruments

    $ (909 )    $ —        $ —        $ (909 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

 

Transamerica Funds

     Page    11         

Transamerica Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2022, the total value of 144A securities is $650,656,945, representing 48.7% of the Fund’s net assets.
(B)      Floating or variable rate securities. The rates disclosed are as of July 31, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(C)      Perpetual maturity. The date displayed is the next call date.
(D)      Securities are exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At July 31, 2022, the total value of Regulation S securities is $9,164,961, representing 0.7% of the Fund’s net assets.
(E)      All or a portion of the securities are on loan. The total value of all securities on loan is $21,830,903, collateralized by cash collateral of $12,150,653 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $10,140,343. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(F)      Percentage rounds to less than 0.1% or (0.1)%.
(G)      Step bonds. Coupon rates change in increments to maturity. The rates disclosed are as of July 31, 2022; the maturity dates disclosed are the ultimate maturity dates.
(H)      When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after July 31, 2022. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(I)      Non-income producing security.
(J)      Security is Level 3 of the fair value hierarchy.
(K)      Security deemed worthless.
(L)      Fair valued as determined in good faith in accordance with procedures established by the Board. At July 31, 2022, the value of the security is $0, representing less than 0.1% of the Fund’s net assets.
(M)      Rates disclosed reflect the yields at July 31, 2022.
(N)      There were no transfers in or out of Level 3 during the period ended July 31, 2022. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(O)      Level 3 securities were not considered significant to the Fund.
(P)      Derivative instruments are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

 

LIBOR

    London Interbank Offered Rate

SOFR

    Secured Overnight Financing Rate

STRIPS

    Separate Trading of Registered Interest and Principal of Securities

TBA

    To Be Announced

 

Transamerica Funds

     Page    12         

Transamerica Bond

 

NOTES TO SCHEDULE OF INVESTMENTS

At July 31, 2022

(unaudited)

 

INVESTMENT VALUATION

Transamerica Bond (the “Fund”) is a series of the Transamerica Funds.

All investments in securities are recorded at their estimated fair value. The Fund values its investments at the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:

Level 1 — Unadjusted quoted prices in active markets for identical securities.

Level 2 — Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include the Fund’s own assumptions used in determining the fair value of investments and derivative instruments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at July 31, 2022, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Fund’s significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

Corporate debt securities: The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

Foreign government obligations: Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Loan assignments: Loan assignments are normally valued using an income approach, which projects future cash flows and converts those future cash flows to a present value using a discount rate. The resulting present value reflects the likely fair value of the loan. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise are categorized in Level 3.

 

Transamerica Funds

     Page    13         

Transamerica Bond

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Equity securities: Securities are stated at the last reported sales price or closing price on the day of valuation taken from the primary exchange where the security is principally traded. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Equities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or Level 3 if inputs are unobservable.

Commercial paper: Commercial paper is valued using amortized cost, which approximates fair value. The values are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Short-term notes: The Fund normally values short-term government and U.S. government agency securities using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers and reference data. Certain securities are valued by principally using dealer quotations. Short-term government and U.S. government agency securities generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.

 

Transamerica Funds

     Page    14