NPORT-EX 2 NPORT_I3BD_44836399_0722.htm FOR VALIDATION PURPOSES ONLY - [397013.I3BD]

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES - 95.2%  
Aerospace & Defense - 0.7%  

TransDigm, Inc.

      

4.88%, 05/01/2029

      $  5,020,000        $  4,491,645  

5.50%, 11/15/2027

      2,906,000        2,751,314  

Triumph Group, Inc.

      

7.75%, 08/15/2025 (A)

      2,284,000        1,954,807  

8.88%, 06/01/2024 (B)

      319,000        329,964  
     

 

 

  
        9,527,730  
     

 

 

  
Airlines - 0.5%  

American Airlines Group, Inc.

      

3.75%, 03/01/2025 (B)

      131,000        114,953  

American Airlines, Inc. / AAdvantage Loyalty IP Ltd.

      

5.50%, 04/20/2026 (B)

      1,427,000        1,408,791  

5.75%, 04/20/2029 (B)

      2,126,000        2,048,305  

United Airlines Holdings, Inc.

      

4.88%, 01/15/2025 (A)

      3,111,000        2,975,672  

United Airlines Pass-Through Trust

      

4.63%, 03/03/2024

      735,378        734,778  
     

 

 

  
        7,282,499  
     

 

 

  
Auto Components - 2.2%  

Clarios Global LP / Clarios US Finance Co.

      

6.25%, 05/15/2026 (B)

      3,086,000        3,115,147  

8.50%, 05/15/2027 (A) (B)

      3,876,000        3,924,450  

Dana, Inc.

      

4.50%, 02/15/2032

      4,562,000        3,812,516  

5.38%, 11/15/2027

      1,973,000        1,854,620  

5.63%, 06/15/2028 (A)

      1,464,000        1,361,158  

Goodyear Tire & Rubber Co.

      

4.88%, 03/15/2027 (A)

      2,303,000        2,190,210  

5.00%, 05/31/2026 - 07/15/2029 (A)

      5,335,000        5,007,268  

9.50%, 05/31/2025 (A)

      3,075,000        3,239,859  

Patrick Industries, Inc.

      

7.50%, 10/15/2027 (B)

      5,897,000        5,463,187  
     

 

 

  
        29,968,415  
     

 

 

  
Banks - 1.6%  

Barclays PLC

      

Fixed until 09/15/2023 (C),
7.75% (D)

      1,517,000        1,528,215  

Fixed until 06/15/2024 (C),
8.00% (D)

      3,262,000        3,359,860  

Citigroup, Inc.

      

Fixed until 09/12/2024 (C),
5.00% (D)

      5,932,000        5,489,581  

Intesa Sanpaolo SpA

      

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

      1,694,000        1,296,832  

5.71%, 01/15/2026 (B)

      4,247,000        4,104,959  

JPMorgan Chase & Co.

      

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

      3,140,000        2,781,992  

Lloyds Banking Group PLC

      

Fixed until 06/27/2024 (C),
7.50% (A) (D)

      2,630,000        2,656,966  
     

 

 

  
        21,218,405  
     

 

 

  
Beverages - 0.5%  

Primo Water Holdings, Inc.

      

4.38%, 04/30/2029 (B)

      8,246,000        7,122,483  
     

 

 

  
Biotechnology - 0.3%  

Grifols Escrow Issuer SA

      

4.75%, 10/15/2028 (B)

      4,086,000        3,621,299  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Building Products - 0.9%  

Builders FirstSource, Inc.

      

4.25%, 02/01/2032 (B)

      $   905,000        $   774,476  

5.00%, 03/01/2030 (B)

      694,000        642,632  

Cornerstone Building Brands, Inc.

      

6.13%, 01/15/2029 (B)

      6,056,000        4,057,520  

Standard Industries, Inc.

      

3.38%, 01/15/2031 (B)

      2,209,000        1,796,248  

4.38%, 07/15/2030 (B)

      880,000        768,663  

5.00%, 02/15/2027 (B)

      4,081,000        3,925,392  
     

 

 

  
        11,964,931  
     

 

 

  
Capital Markets - 2.1%  

Camelot Return Merger Sub, Inc.

      

8.75%, 08/01/2028

      3,576,000        3,334,620  

Credit Suisse Group AG

      

Fixed until 02/11/2027 (C),
5.25% (B) (D)

      2,250,000        1,856,250  

Fixed until 12/18/2024 (C),
6.25% (B) (D)

      1,350,000        1,291,977  

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

      3,782,000        3,195,790  

Fixed until 09/12/2025 (C),
7.25% (B) (D)

      3,450,000        3,056,700  

Fixed until 07/17/2023 (C),
7.50% (B) (D)

      171,000        158,910  

Fixed until 12/11/2023 (C),
7.50% (B) (D)

      4,168,000        4,092,034  

Deutsche Bank AG

      

Fixed until 10/14/2030,
3.73% (D), 01/14/2032

      2,644,000        2,054,729  

Fixed until 10/30/2025 (C),
6.00% (A) (D)

      1,400,000        1,211,000  

LPL Holdings, Inc.

      

4.00%, 03/15/2029 (B)

      4,244,000        3,946,920  

MSCI, Inc.

      

3.63%, 09/01/2030 (B)

      4,869,000        4,445,397  
     

 

 

  
        28,644,327  
     

 

 

  
Chemicals - 1.9%  

ASP Unifrax Holdings, Inc.

      

5.25%, 09/30/2028 (B)

      1,038,000        873,591  

7.50%, 09/30/2029 (B)

      3,029,000        2,392,910  

Avient Corp.

      

7.13%, 08/01/2030 (E)

      1,136,000        1,170,557  

Eagle Intermediate Global Holding BV / Ruyi US Finance LLC

      

7.50%, 05/01/2025 (A) (B)

      7,289,000        5,156,968  

NOVA Chemicals Corp.

      

4.88%, 06/01/2024 (B)

      2,559,000        2,494,793  

5.25%, 06/01/2027 (B)

      7,066,000        6,776,294  

Olin Corp.

      

5.00%, 02/01/2030 (A)

      3,224,000        2,990,260  

5.13%, 09/15/2027

      2,495,000        2,388,963  

5.63%, 08/01/2029

      1,471,000        1,412,160  
     

 

 

  
        25,656,496  
     

 

 

  
Commercial Services & Supplies - 2.4%  

Avis Budget Car Rental LLC / Avis Budget Finance, Inc.

      

5.38%, 03/01/2029 (A) (B)

      3,824,000        3,487,144  

5.75%, 07/15/2027 (A) (B)

      5,120,000        4,856,109  

Covanta Holding Corp.

      

4.88%, 12/01/2029 (B)

      2,618,000        2,331,931  

5.00%, 09/01/2030

      2,115,000        1,846,712  

Garda World Security Corp.

      

4.63%, 02/15/2027 (B)

      3,043,000        2,745,243  

6.00%, 06/01/2029 (B)

      3,381,000        2,639,213  

9.50%, 11/01/2027 (B)

      1,765,000        1,651,335  

Harsco Corp.

      

5.75%, 07/31/2027 (A) (B)

      186,000        141,360  
 

 

Transamerica Funds

     Page    1         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Commercial Services & Supplies (continued)  

Nielsen Finance LLC / Nielsen Finance Co.

      

4.50%, 07/15/2029 (B)

      $   2,894,000        $   2,719,666  

5.63%, 10/01/2028 (B)

      5,199,000        5,095,020  

5.88%, 10/01/2030 (B)

      640,000        627,200  

Stericycle, Inc.

      

3.88%, 01/15/2029 (B)

      1,603,000        1,465,671  

5.38%, 07/15/2024 (B)

      2,299,000        2,299,506  
     

 

 

  
        31,906,110  
     

 

 

  
Communications Equipment - 1.1%  

Avaya, Inc.

      

6.13%, 09/15/2028 (B)

      7,118,000        3,343,538  

CommScope Technologies LLC

      

6.00%, 06/15/2025 (B)

      4,843,000        4,479,775  

CommScope, Inc.

      

4.75%, 09/01/2029 (B)

      3,920,000        3,408,362  

6.00%, 03/01/2026 (B)

      2,100,000        2,042,250  

8.25%, 03/01/2027 (B)

      1,989,000        1,752,806  
     

 

 

  
        15,026,731  
     

 

 

  
Construction & Engineering - 0.5%  

Abengoa Abenewco 2 SA

      

PIK Rate 1.50%, Cash Rate 0.00%,
10/26/2024 (B) (F)

      2,023,470        10,117  

Ashton Woods USA LLC / Ashton Woods Finance Co.

      

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

      2,445,000        1,882,858  

6.63%, 01/15/2028 (B)

      5,109,000        4,469,966  
     

 

 

  
        6,362,941  
     

 

 

  
Construction Materials - 0.2%  

Advanced Drainage Systems, Inc.

      

6.38%, 06/15/2030 (B)

      1,435,000        1,446,133  

Eco Material Technologies, Inc.

      

7.88%, 01/31/2027 (B)

      1,006,000        893,711  
     

 

 

  
        2,339,844  
     

 

 

  
Consumer Finance - 2.0%  

Altice Financing SA

      

5.00%, 01/15/2028 (B)

      1,366,000        1,205,850  

Ford Motor Credit Co. LLC

      

2.70%, 08/10/2026

      1,636,000        1,483,852  

3.38%, 11/13/2025

      3,066,000        2,905,570  

4.00%, 11/13/2030

      4,118,000        3,642,928  

4.39%, 01/08/2026

      6,969,000        6,782,635  

4.95%, 05/28/2027

      1,741,000        1,725,940  

5.13%, 06/16/2025

      1,398,000        1,395,756  

Navient Corp.

      

5.00%, 03/15/2027

      1,020,000        921,988  

5.50%, 03/15/2029 (A)

      1,464,000        1,255,146  

5.88%, 10/25/2024

      5,127,000        5,026,014  
     

 

 

  
        26,345,679  
     

 

 

  
Containers & Packaging - 4.3%  

ARD Finance SA

      

PIK Rate 7.25%, Cash Rate 6.50%,
06/30/2027 (B) (F)

      3,132,216        2,370,398  

Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC

      

3.25%, 09/01/2028 (B)

      2,886,000        2,679,103  

4.00%, 09/01/2029 (B)

      5,007,000        4,306,020  

6.00%, 06/15/2027 (B)

      424,000        436,190  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Containers & Packaging (continued)  

Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.

      

5.25%, 08/15/2027 (A) (B)

      $   2,241,000        $   1,703,800  

Ball Corp.

      

2.88%, 08/15/2030

      8,739,000        7,523,327  

Cascades, Inc. / Cascades USA, Inc.

      

5.13%, 01/15/2026 (B)

      1,069,000        996,429  

5.38%, 01/15/2028 (B)

      8,454,000        7,604,562  

Clydesdale Acquisition Holdings, Inc.

      

6.63%, 04/15/2029 (B)

      3,236,000        3,267,454  

Crown Americas LLC / Crown Americas Capital Corp. VI

      

4.75%, 02/01/2026

      8,832,000        8,764,700  

Graphic Packaging International LLC

      

3.50%, 03/15/2028 - 03/01/2029 (B)

      5,808,000        5,335,922  

Mauser Packaging Solutions Holding Co.

      

5.50%, 04/15/2024 (B)

      3,000        2,967  

Owens-Brockway Glass Container, Inc.

      

6.38%, 08/15/2025 (A) (B)

      1,014,000        969,356  

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

      

4.00%, 10/15/2027 (B)

      4,977,000        4,385,085  

Trident TPI Holdings, Inc.

      

9.25%, 08/01/2024 (B)

      3,912,000        3,599,040  

Trivium Packaging Finance BV

      

5.50%, 08/15/2026 (B)

      3,258,000        3,192,840  

8.50%, 08/15/2027 (A) (B)

      1,285,000        1,225,890  
     

 

 

  
        58,363,083  
     

 

 

  
Diversified Consumer Services - 0.3%  

WW International, Inc.

      

4.50%, 04/15/2029 (A) (B)

      5,237,000        3,823,010  
     

 

 

  
Diversified Financial Services - 3.4%  

Avation Capital SA

      

PIK Rate 9.00%, Cash Rate 8.25%,
10/31/2026 (B) (F)

      4,041,919        3,040,971  

Dana Financing Luxembourg SARL

      

5.75%, 04/15/2025 (B)

      7,877,000        7,758,845  

ILFC E-Capital Trust I

      

1.55% + Max of 3-Month LIBOR,
10-Year CMT, or 30-Year CMT,
4.85% (D), 12/21/2065 (B)

      17,977,000        13,499,143  

ILFC E-Capital Trust II

      

1.80% + Max of 3-Month LIBOR,
15-Year CMT or 30-Year CMT,
5.10% (D), 12/21/2065 (B)

      2,974,000        2,208,195  

Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.

      

4.25%, 02/01/2027 (B)

      1,427,000        1,272,128  

5.25%, 10/01/2025 (B)

      3,485,000        3,294,057  

United Wholesale Mortgage LLC

      

5.50%, 11/15/2025 - 04/15/2029 (B)

      5,108,000        4,543,067  

5.75%, 06/15/2027 (B)

      3,038,000        2,652,339  

Virgin Media Secured Finance PLC

      

4.50%, 08/15/2030 (B)

      1,369,000        1,226,966  

5.50%, 05/15/2029 (B)

      7,269,000        6,906,459  
     

 

 

  
        46,402,170  
     

 

 

  
Diversified Telecommunication Services - 3.6%  

Frontier Communications Holdings LLC

      

5.00%, 05/01/2028 (B)

      1,852,000        1,740,399  

6.00%, 01/15/2030 (A) (B)

      2,433,000        2,043,890  

6.75%, 05/01/2029 (B)

      4,606,000        4,097,636  
 

 

Transamerica Funds

     Page    2         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Diversified Telecommunication Services (continued)  

Hughes Satellite Systems Corp.

      

6.63%, 08/01/2026

      $   3,959,000        $   3,842,787  

Iliad Holding SASU

      

6.50%, 10/15/2026 (B)

      2,271,000        2,179,820  

7.00%, 10/15/2028 (B)

      4,281,000        4,109,139  

Intelsat Jackson Holdings SA

      

8.50%, 10/15/2024 (G) (H) (I)

      3,274,000        0  

Level 3 Financing, Inc.

      

3.63%, 01/15/2029 (B)

      4,524,000        3,780,978  

3.75%, 07/15/2029 (B)

      1,518,000        1,256,145  

4.25%, 07/01/2028 (B)

      3,398,000        2,965,134  

4.63%, 09/15/2027 (B)

      1,879,000        1,717,481  

Lumen Technologies, Inc.

      

4.50%, 01/15/2029 (B)

      3,144,000        2,491,620  

5.13%, 12/15/2026 (B)

      5,840,000        5,329,000  

5.38%, 06/15/2029 (B)

      5,213,000        4,352,855  

7.50%, 04/01/2024

      4,483,000        4,606,731  

Telecom Italia Capital SA

      

6.00%, 09/30/2034

      2,206,000        1,737,948  

6.38%, 11/15/2033

      2,243,000        1,870,438  

Zayo Group Holdings, Inc.

      

4.00%, 03/01/2027 (B)

      1,157,000        1,007,588  
     

 

 

  
        49,129,589  
     

 

 

  
Electric Utilities - 0.9%  

Elwood Energy LLC

      

8.16%, 07/05/2026

      1,907,150        1,902,382  

NRG Energy, Inc.

      

3.38%, 02/15/2029 (B)

      1,599,000        1,379,137  

3.88%, 02/15/2032 (B)

      1,461,000        1,248,760  

Vistra Operations Co. LLC

      

4.38%, 05/01/2029 (B)

      3,383,000        3,145,074  

5.00%, 07/31/2027 (B)

      4,312,000        4,245,380  

5.63%, 02/15/2027 (B)

      611,000        612,961  
     

 

 

  
        12,533,694  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.3%  

Sensata Technologies BV

      

4.00%, 04/15/2029 (B)

      3,295,000        2,998,450  

Sensata Technologies, Inc.

      

3.75%, 02/15/2031 (B)

      667,000        579,546  

4.38%, 02/15/2030 (B)

      1,069,000        991,946  
     

 

 

  
        4,569,942  
     

 

 

  
Energy Equipment & Services - 1.3%  

Archrock Partners LP / Archrock Partners Finance Corp.

      

6.25%, 04/01/2028 (B)

      3,967,000        3,589,778  

CSI Compressco LP / CSI Compressco Finance, Inc.

      

7.50%, 04/01/2025 (A) (B)

      431,000        396,613  

7.50%, 04/01/2025 (B)

      1,546,000        1,422,653  

PIK Rate 3.50%, Cash Rate 7.25%,
04/01/2026 (B) (F)

      6,349,963        5,826,910  

Sunnova Energy Corp.

      

5.88%, 09/01/2026 (A) (B)

      2,922,000        2,746,680  

USA Compression Partners LP / USA Compression Finance Corp.

      

6.88%, 09/01/2027

      4,444,000        4,075,148  
     

 

 

  
        18,057,782  
     

 

 

  
Entertainment - 0.8%  

CDI Escrow Issuer, Inc.

      

5.75%, 04/01/2030 (B)

      3,778,000        3,702,440  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Entertainment (continued)  

Netflix, Inc.

      

4.88%, 04/15/2028

      $   2,997,000        $   2,975,661  

4.88%, 06/15/2030 (B)

      2,044,000        2,016,396  

5.38%, 11/15/2029 (B)

      984,000        988,384  

Scientific Games Holdings LP / Scientific Games US FinCo, Inc.

      

6.63%, 03/01/2030 (B)

      775,000        695,562  
     

 

 

  
        10,378,443  
     

 

 

  
Equity Real Estate Investment Trusts - 3.1%  

HAT Holdings I LLC / HAT Holdings II LLC

      

3.38%, 06/15/2026 (B)

      4,945,000        4,334,515  

6.00%, 04/15/2025 (B)

      1,212,000        1,177,803  

Iron Mountain Information Management Services, Inc.

      

5.00%, 07/15/2032 (B)

      2,443,000        2,202,719  

Iron Mountain, Inc.

      

4.50%, 02/15/2031 (B)

      881,000        773,078  

5.25%, 03/15/2028 (B)

      4,992,000        4,767,360  

iStar, Inc.

      

4.25%, 08/01/2025

      2,341,000        2,232,729  

5.50%, 02/15/2026

      5,248,000        5,153,035  

MPT Operating Partnership LP / MPT Finance Corp.

      

3.50%, 03/15/2031

      4,019,000        3,460,138  

Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer

      

5.88%, 10/01/2028 (B)

      1,350,000        1,323,290  

7.50%, 06/01/2025 (B)

      4,323,000        4,431,637  

SBA Communications Corp.

      

3.13%, 02/01/2029

      3,735,000        3,268,125  

3.88%, 02/15/2027

      3,057,000        2,912,832  

VICI Properties LP / VICI Note Co., Inc.

      

3.88%, 02/15/2029 (B)

      2,431,000        2,218,543  

4.63%, 06/15/2025 (B)

      1,364,000        1,329,661  

5.75%, 02/01/2027 (B)

      1,958,000        1,949,737  
     

 

 

  
        41,535,202  
     

 

 

  
Food & Staples Retailing - 1.2%  

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

      

3.25%, 03/15/2026 (B)

      1,240,000        1,152,332  

3.50%, 03/15/2029 (B)

      4,595,000        4,023,704  

4.63%, 01/15/2027 (B)

      4,271,000        4,033,710  

7.50%, 03/15/2026 (B)

      1,067,000        1,101,846  

Rite Aid Corp.

      

7.50%, 07/01/2025 (B)

      3,441,000        2,991,011  

8.00%, 11/15/2026 (A) (B)

      3,055,000        2,573,837  
     

 

 

  
        15,876,440  
     

 

 

  
Food Products - 2.5%  

Kraft Heinz Foods Co.

      

4.88%, 10/01/2049

      3,025,000        2,854,420  

5.00%, 07/15/2035 - 06/04/2042

      8,174,000        8,183,980  

6.88%, 01/26/2039

      1,374,000        1,580,755  

Pilgrim’s Pride Corp.

      

3.50%, 03/01/2032 (B)

      2,870,000        2,423,356  

5.88%, 09/30/2027 (B)

      6,358,000        6,354,185  

Post Holdings, Inc.

      

4.50%, 09/15/2031 (A) (B)

      2,950,000        2,597,669  

4.63%, 04/15/2030 (B)

      1,647,000        1,476,964  

5.50%, 12/15/2029 (B)

      7,864,000        7,455,622  

5.63%, 01/15/2028 (A) (B)

      1,347,000        1,326,795  
     

 

 

  
        34,253,746  
     

 

 

  
 

 

Transamerica Funds

     Page    3         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Health Care Equipment & Supplies - 0.4%  

Medline Borrower LP

      

3.88%, 04/01/2029 (B)

      $   5,315,000        $   4,803,431  
     

 

 

  
Health Care Providers & Services - 5.9%  

Acadia Healthcare Co., Inc.

      

5.00%, 04/15/2029 (B)

      4,502,000        4,362,663  

AdaptHealth LLC

      

4.63%, 08/01/2029 (B)

      705,000        630,989  

5.13%, 03/01/2030 (A) (B)

      973,000        892,475  

6.13%, 08/01/2028 (B)

      3,972,000        3,759,007  

Centene Corp.

      

3.38%, 02/15/2030

      387,000        351,703  

4.25%, 12/15/2027

      1,538,000        1,513,007  

4.63%, 12/15/2029

      790,000        778,810  

CHS / Community Health Systems, Inc.

      

5.25%, 05/15/2030 (B)

      4,807,000        4,037,880  

5.63%, 03/15/2027 (B)

      398,000        354,005  

6.88%, 04/15/2029 (A) (B)

      674,000        374,070  

8.00%, 03/15/2026 (B)

      7,546,000        7,145,987  

DaVita, Inc.

      

3.75%, 02/15/2031 (B)

      8,537,000        6,488,120  

4.63%, 06/01/2030 (B)

      4,139,000        3,393,980  

Encompass Health Corp.

      

4.50%, 02/01/2028

      1,686,000        1,559,887  

4.63%, 04/01/2031

      638,000        572,771  

4.75%, 02/01/2030

      1,702,000        1,569,857  

5.75%, 09/15/2025

      4,174,000        4,183,764  

HCA, Inc.

      

5.38%, 02/01/2025

      3,103,000        3,165,145  

5.88%, 02/15/2026 - 02/01/2029

      9,363,000        9,700,003  

7.50%, 11/06/2033

      441,000        504,438  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (B)

      4,554,000        4,383,225  

Tenet Healthcare Corp.

      

4.25%, 06/01/2029 (B)

      3,886,000        3,613,980  

4.88%, 01/01/2026 (B)

      1,897,000        1,881,008  

5.13%, 11/01/2027 (B)

      2,487,000        2,449,695  

6.13%, 10/01/2028 - 06/15/2030 (B)

      11,634,000        11,455,288  
     

 

 

  
        79,121,757  
     

 

 

  
Hotels, Restaurants & Leisure - 7.5%  

1011778 BC ULC / New Red Finance, Inc.

      

3.88%, 01/15/2028 (B)

      2,808,000        2,640,194  

4.00%, 10/15/2030 (B)

      3,743,000        3,265,767  

Boyd Gaming Corp.

      

4.75%, 06/15/2031 (B)

      910,000        837,409  

Boyne USA, Inc.

      

4.75%, 05/15/2029 (B)

      4,440,000        4,156,950  

Caesars Entertainment, Inc.

      

4.63%, 10/15/2029 (A) (B)

      4,807,000        4,075,375  

6.25%, 07/01/2025 (B)

      2,172,000        2,166,570  

Carnival Corp.

      

6.00%, 05/01/2029 (B)

      3,225,000        2,476,504  

7.63%, 03/01/2026 (A) (B)

      1,588,000        1,372,866  

10.50%, 02/01/2026 - 06/01/2030 (B)

      5,239,000        4,983,374  

Hilton Domestic Operating Co., Inc.

      

4.88%, 01/15/2030

      3,109,000        3,019,616  

5.75%, 05/01/2028 (B)

      493,000        495,834  

Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Escrow, Inc.

      

4.88%, 07/01/2031 (B)

      5,142,000        4,319,280  

5.00%, 06/01/2029 (B)

      1,165,000        1,030,821  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Hotels, Restaurants & Leisure (continued)  

International Game Technology PLC

      

4.13%, 04/15/2026 (B)

      $   1,429,000        $   1,363,759  

5.25%, 01/15/2029 (B)

      780,000        753,226  

6.25%, 01/15/2027 (B)

      2,343,000        2,384,002  

6.50%, 02/15/2025 (B)

      2,272,000        2,308,920  

Lions Gate Capital Holdings LLC

      

5.50%, 04/15/2029 (A) (B)

      4,357,000        3,543,800  

MGM Resorts International

      

4.63%, 09/01/2026

      942,000        875,887  

4.75%, 10/15/2028

      2,858,000        2,586,933  

5.50%, 04/15/2027

      4,203,000        4,058,396  

5.75%, 06/15/2025

      4,250,000        4,212,451  

6.75%, 05/01/2025

      995,000        999,975  

NCL Corp. Ltd.

      

5.88%, 03/15/2026 - 02/15/2027 (B)

      7,783,000        6,529,411  

Royal Caribbean Cruises Ltd.

      

4.25%, 07/01/2026 (B)

      1,192,000        917,840  

5.38%, 07/15/2027 (B)

      2,377,000        1,824,181  

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

      1,904,000        1,437,520  

9.13%, 06/15/2023 (A) (B)

      788,000        799,907  

10.88%, 06/01/2023 (B)

      1,326,000        1,355,815  

11.50%, 06/01/2025 (B)

      861,000        922,295  

Scientific Games International, Inc.

      

7.00%, 05/15/2028 (B)

      3,390,000        3,448,342  

Station Casinos LLC

      

4.50%, 02/15/2028 (B)

      5,333,000        4,786,421  

Travel & Leisure Co.

      

4.50%, 12/01/2029 (B)

      3,812,000        3,281,980  

5.65%, 04/01/2024

      2,062,000        2,066,495  

6.00%, 04/01/2027

      4,641,000        4,604,800  

Viking Cruises Ltd.

      

5.88%, 09/15/2027 (A) (B)

      5,359,000        4,361,208  

6.25%, 05/15/2025 (B)

      5,512,000        4,933,240  

7.00%, 02/15/2029 (A) (B)

      1,701,000        1,373,949  
     

 

 

  
        100,571,313  
     

 

 

  
Household Durables - 1.2%  

Beazer Homes USA, Inc.

      

5.88%, 10/15/2027

      2,476,000        2,180,242  

6.75%, 03/15/2025

      3,196,000        3,054,310  

7.25%, 10/15/2029 (A)

      5,316,000        4,837,560  

Century Communities, Inc.

      

6.75%, 06/01/2027

      1,598,000        1,623,983  

KB Home

      

7.25%, 07/15/2030

      1,840,000        1,844,600  

Meritage Homes Corp.

      

6.00%, 06/01/2025

      2,124,000        2,154,540  
     

 

 

  
        15,695,235  
     

 

 

  
Household Products - 0.5%  

Central Garden & Pet Co.

      

4.13%, 04/30/2031 (B)

      3,119,000        2,675,575  

Energizer Holdings, Inc.

      

6.50%, 12/31/2027 (B)

      1,287,000        1,192,042  

Spectrum Brands, Inc.

      

3.88%, 03/15/2031 (B)

      4,084,000        3,348,880  
     

 

 

  
        7,216,497  
     

 

 

  
Independent Power & Renewable Electricity Producers - 1.2%  

Calpine Corp.

      

3.75%, 03/01/2031 (B)

      4,747,000        4,213,793  

4.50%, 02/15/2028 (B)

      3,830,000        3,715,100  

5.00%, 02/01/2031 (B)

      1,198,000        1,064,971  

5.13%, 03/15/2028 (B)

      2,084,000        1,964,170  

5.25%, 06/01/2026 (B)

      1,526,000        1,539,414  
 

 

Transamerica Funds

     Page    4         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Independent Power & Renewable Electricity Producers (continued)  

Clearway Energy Operating LLC

      

3.75%, 02/15/2031 (B)

      $   2,217,000        $   1,938,317  

4.75%, 03/15/2028 (B)

      2,443,000        2,369,710  
     

 

 

  
        16,805,475  
     

 

 

  
Insurance - 1.9%  

Global Atlantic Finance Co.

      

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

      5,575,000        4,610,774  

Hartford Financial Services Group, Inc.

      

3-Month LIBOR + 2.13%,
3.54% (D), 02/12/2067 (B)

      6,827,000        5,538,504  

Lincoln National Corp.

      

3-Month LIBOR + 2.36%,
3.80% (D), 05/17/2066

      10,287,000        7,920,990  

Ohio National Financial Services, Inc.

      

6.05%, 01/24/2030 (B)

      7,641,000        7,488,895  
     

 

 

  
        25,559,163  
     

 

 

  
IT Services - 1.1%  

Conduent Business Services LLC / Conduent State & Local Solutions, Inc.

      

6.00%, 11/01/2029 (B)

      5,717,000        4,816,573  

Gartner, Inc.

      

3.63%, 06/15/2029 (B)

      326,000        297,700  

3.75%, 10/01/2030 (B)

      1,745,000        1,602,817  

4.50%, 07/01/2028 (B)

      3,333,000        3,201,554  

Rackspace Technology Global, Inc.

      

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

      5,748,000        4,753,778  
     

 

 

  
        14,672,422  
     

 

 

  
Leisure Products - 0.2%  

Mattel, Inc.

      

5.45%, 11/01/2041

      2,583,000        2,372,357  
     

 

 

  
Life Sciences Tools & Services - 0.1%  

Charles River Laboratories International, Inc.

      

3.75%, 03/15/2029 (B)

      1,110,000        1,024,290  

4.00%, 03/15/2031 (B)

      1,110,000        1,015,557  
     

 

 

  
        2,039,847  
     

 

 

  
Machinery - 1.9%  

Allison Transmission, Inc.

      

3.75%, 01/30/2031 (B)

      2,792,000        2,411,562  

Madison IAQ LLC

      

4.13%, 06/30/2028 (B)

      2,453,000        2,170,905  

5.88%, 06/30/2029 (A) (B)

      767,000        600,178  

SPX FLOW, Inc.

      

8.75%, 04/01/2030 (A) (B)

      5,281,000        4,343,622  

SRM Escrow Issuer LLC

      

6.00%, 11/01/2028 (B)

      9,529,000        8,861,970  

Vertiv Group Corp.

      

4.13%, 11/15/2028 (A) (B)

      3,399,000        3,008,115  

Wabash National Corp.

      

4.50%, 10/15/2028 (B)

      4,877,000        3,999,140  
     

 

 

  
        25,395,492  
     

 

 

  
Media - 10.6%  

Adelphia Communications Corp.

      

9.25%, 10/01/2049 (G) (I)

      1,305,000        91  

10.25%, 06/15/2049 - 11/01/2049 (G) (I) (J)

      1,460,000        102  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Media (continued)  

Arches Buyer, Inc.

      

4.25%, 06/01/2028 (B)

      $   3,814,000        $   3,261,963  

6.13%, 12/01/2028 (A) (B)

      2,463,000        2,019,660  

CCO Holdings LLC / CCO Holdings Capital Corp.

      

4.25%, 02/01/2031 - 01/15/2034 (B)

      5,545,000        4,686,142  

4.50%, 08/15/2030 (B)

      4,451,000        3,956,583  

4.50%, 05/01/2032

      3,975,000        3,480,927  

4.75%, 03/01/2030 - 02/01/2032 (B)

      7,694,000        6,949,806  

5.00%, 02/01/2028 (B)

      4,251,000        4,102,215  

5.38%, 06/01/2029 (B)

      1,794,000        1,709,592  

Clear Channel Outdoor Holdings, Inc.

      

5.13%, 08/15/2027 (B)

      5,106,000        4,734,896  

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

      1,668,000        1,330,784  

7.75%, 04/15/2028 (A) (B)

      4,647,000        3,737,675  

CSC Holdings LLC

      

4.50%, 11/15/2031 (B)

      1,778,000        1,502,410  

4.63%, 12/01/2030 (B)

      3,219,000        2,446,440  

5.00%, 11/15/2031 (B)

      1,505,000        1,118,279  

5.38%, 02/01/2028 (A) (B)

      2,777,000        2,638,150  

5.75%, 01/15/2030 (B)

      7,076,000        5,723,423  

6.50%, 02/01/2029 (B)

      2,516,000        2,439,237  

7.50%, 04/01/2028 (A) (B)

      2,569,000        2,357,057  

Diamond Sports Group LLC / Diamond Sports Finance Co.

      

5.38%, 08/15/2026 (B)

      10,476,000        2,304,720  

6.63%, 08/15/2027 (B)

      609,000        56,333  

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

      

5.88%, 08/15/2027 (B)

      6,774,000        6,328,406  

DISH DBS Corp.

      

5.00%, 03/15/2023

      2,627,000        2,577,744  

5.25%, 12/01/2026 (B)

      2,989,000        2,585,485  

5.75%, 12/01/2028 (B)

      3,059,000        2,481,614  

7.38%, 07/01/2028

      2,449,000        1,749,636  

7.75%, 07/01/2026

      2,590,000        2,148,405  

Gray Escrow II, Inc.

      

5.38%, 11/15/2031 (B)

      3,894,000        3,436,455  

Gray Television, Inc.

      

4.75%, 10/15/2030 (B)

      4,827,000        4,148,249  

7.00%, 05/15/2027 (A) (B)

      4,283,000        4,290,904  

iHeartCommunications, Inc.

      

6.38%, 05/01/2026

      1,873,000        1,821,043  

8.38%, 05/01/2027 (A)

      4,588,759        4,142,732  

LCPR Senior Secured Financing DAC

      

6.75%, 10/15/2027 (B)

      6,823,000        6,623,648  

Sinclair Television Group, Inc.

      

5.50%, 03/01/2030 (A) (B)

      5,395,000        4,327,756  

Sirius XM Radio, Inc.

      

4.13%, 07/01/2030 (B)

      2,892,000        2,602,222  

5.00%, 08/01/2027 (B)

      250,000        247,943  

5.50%, 07/01/2029 (B)

      2,467,000        2,417,068  

TEGNA, Inc.

      

4.63%, 03/15/2028

      2,359,000        2,304,094  

4.75%, 03/15/2026 (B)

      1,729,000        1,716,871  

Univision Communications, Inc.

      

6.63%, 06/01/2027 (B)

      4,399,000        4,409,997  

UPC Broadband Finco BV

      

4.88%, 07/15/2031 (B)

      4,157,000        3,675,453  

UPC Holding BV

      

5.50%, 01/15/2028 (B)

      2,314,000        2,113,214  

Virgin Media Finance PLC

      

5.00%, 07/15/2030 (B)

      5,449,000        4,616,148  

VZ Secured Financing BV

      

5.00%, 01/15/2032 (B)

      10,109,000        9,015,307  

Ziggo Bond Co. BV

      

6.00%, 01/15/2027 (B)

      2,487,000        2,387,520  
     

 

 

  
        142,724,399  
     

 

 

  
 

 

Transamerica Funds

     Page    5         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Metals & Mining - 3.9%  

Big River Steel LLC / BRS Finance Corp.

      

6.63%, 01/31/2029 (B)

      $   2,563,000        $   2,613,709  

Constellium SE

      

5.63%, 06/15/2028 (B)

      7,339,000        6,613,906  

5.88%, 02/15/2026
01/22/2020 - 12/16/2020 (B)

      6,910,000        6,705,334  

FMG Resources August Pty. Ltd.

      

5.88%, 04/15/2030 (B)

      4,672,000        4,456,667  

Freeport-McMoRan, Inc.

      

4.13%, 03/01/2028

      3,142,000        2,966,645  

4.25%, 03/01/2030

      2,492,000        2,335,403  

4.38%, 08/01/2028

      4,277,000        4,057,631  

4.63%, 08/01/2030 (A)

      1,027,000        985,304  

5.45%, 03/15/2043

      2,827,000        2,651,193  

Mineral Resources Ltd.

      

8.13%, 05/01/2027 (B)

      4,732,000        4,696,835  

8.50%, 05/01/2030 (B)

      5,338,000        5,404,725  

New Gold, Inc.

      

7.50%, 07/15/2027 (B)

      5,832,000        4,562,957  

Novelis Corp.

      

3.25%, 11/15/2026 (B)

      595,000        553,683  

3.88%, 08/15/2031 (B)

      612,000        523,260  

4.75%, 01/30/2030 (B)

      3,102,000        2,869,459  
     

 

 

  
        51,996,711  
     

 

 

  
Oil, Gas & Consumable Fuels - 10.9%  

Antero Midstream Partners LP / Antero Midstream Finance Corp.

      

5.38%, 06/15/2029 (B)

      4,910,000        4,796,554  

7.88%, 05/15/2026 (B)

      3,536,000        3,701,025  

Antero Resources Corp.

      

8.38%, 07/15/2026 (B)

      874,000        936,404  

Callon Petroleum Co.

      

6.38%, 07/01/2026

      1,986,000        1,884,859  

7.50%, 06/15/2030 (B)

      2,621,000        2,513,775  

8.00%, 08/01/2028 (A) (B)

      813,000        824,077  

8.25%, 07/15/2025

      4,645,000        4,645,929  

Cheniere Energy Partners LP

      

4.00%, 03/01/2031

      4,372,000        4,049,849  

Cheniere Energy, Inc.

      

4.63%, 10/15/2028

      1,621,000        1,578,287  

Chord Energy Corp.

      

6.38%, 06/01/2026 (B)

      3,432,000        3,380,520  

Civitas Resources, Inc.

      

5.00%, 10/15/2026 (B)

      2,080,000        1,953,744  

Comstock Resources, Inc.

      

5.88%, 01/15/2030 (B)

      3,059,000        2,868,057  

Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.

      

8.00%, 04/01/2029 (B)

      6,532,000        6,457,405  

CrownRock LP / CrownRock Finance, Inc.

      

5.00%, 05/01/2029 (B)

      223,000        207,136  

5.63%, 10/15/2025 (B)

      6,411,000        6,401,512  

DCP Midstream LP

      

Fixed until 12/15/2022 (C),
7.38% (D)

      3,581,000        3,243,352  

DCP Midstream Operating LP

      

5.38%, 07/15/2025

      4,083,000        4,164,660  

DT Midstream, Inc.

      

4.13%, 06/15/2029 (B)

      2,575,000        2,383,832  

4.38%, 06/15/2031 (B)

      835,000        749,413  

eG Global Finance PLC

      

6.75%, 02/07/2025 (B)

      5,529,000        5,266,372  

8.50%, 10/30/2025 (B)

      368,000        360,368  

EQM Midstream Partners LP

      

6.00%, 07/01/2025 (B)

      554,000        552,626  

6.50%, 07/01/2027 (B)

      2,298,000        2,302,757  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Oil, Gas & Consumable Fuels (continued)  

Hess Midstream Operations LP

      

4.25%, 02/15/2030 (B)

      $   272,000        $   242,303  

5.13%, 06/15/2028 (A) (B)

      3,131,000        3,040,123  

Holly Energy Partners LP / Holly Energy Finance Corp.

      

6.38%, 04/15/2027 (B)

      2,913,000        2,871,345  

Ithaca Energy North Sea PLC

      

9.00%, 07/15/2026 (A) (B)

      4,500,000        4,371,750  

Kinder Morgan, Inc.

      

8.05%, 10/15/2030

      2,486,000        2,912,769  

Moss Creek Resources Holdings, Inc.

      

7.50%, 01/15/2026 (B)

      853,000        776,076  

NuStar Logistics LP

      

5.63%, 04/28/2027

      3,359,000        3,212,447  

5.75%, 10/01/2025

      944,000        913,037  

6.00%, 06/01/2026

      531,000        521,978  

Occidental Petroleum Corp.

      

6.13%, 01/01/2031 (A)

      871,000        936,071  

6.20%, 03/15/2040

      2,345,000        2,391,586  

6.45%, 09/15/2036

      7,676,000        8,536,710  

6.60%, 03/15/2046

      860,000        950,300  

6.63%, 09/01/2030

      2,228,000        2,471,732  

7.15%, 05/15/2028

      4,012,000        4,277,874  

Parkland Corp.

      

4.50%, 10/01/2029 (B)

      1,499,000        1,319,131  

4.63%, 05/01/2030 (B)

      855,000        765,054  

5.88%, 07/15/2027 (B)

      3,004,000        2,928,900  

PDC Energy, Inc.

      

6.13%, 09/15/2024

      2,602,000        2,589,147  

SM Energy Co.

      

6.50%, 07/15/2028 (A)

      512,000        504,520  

6.63%, 01/15/2027 (A)

      2,965,000        2,957,588  

6.75%, 09/15/2026 (A)

      3,319,000        3,285,810  

Southwestern Energy Co.

      

4.75%, 02/01/2032

      1,410,000        1,314,825  

5.38%, 03/15/2030

      1,857,000        1,827,167  

Summit Midstream Holdings LLC / Summit Midstream Finance Corp.

      

5.75%, 04/15/2025

      4,578,000        3,593,730  

8.50%, 10/15/2026 (B)

      1,675,000        1,598,143  

Summit Midstream Partners LP

      

Fixed until 12/15/2022 (C),
9.50%

      4,423,000        3,188,983  

Targa Resources Partners LP / Targa Resources Partners Finance Corp.

      

4.00%, 01/15/2032

      2,747,000        2,451,643  

4.88%, 02/01/2031

      3,857,000        3,625,256  

5.00%, 01/15/2028

      3,140,000        3,084,139  

5.50%, 03/01/2030

      2,086,000        2,062,616  

Western Midstream Operating LP

      

5.30%, 03/01/2048

      4,085,000        3,580,410  

5.45%, 04/01/2044

      2,246,000        2,010,125  
     

 

 

  
        146,335,801  
     

 

 

  
Paper & Forest Products - 0.6%  

Domtar Corp.

      

6.75%, 10/01/2028 (B)

      4,560,000        4,204,156  

Glatfelter Corp.

      

4.75%, 11/15/2029 (A) (B)

      6,159,000        4,195,819  
     

 

 

  
        8,399,975  
     

 

 

  
Personal Products - 0.4%  

Coty, Inc.

      

5.00%, 04/15/2026 (B)

      2,265,000        2,224,457  

6.50%, 04/15/2026 (A) (B)

      3,142,000        3,077,353  
     

 

 

  
        5,301,810  
     

 

 

  
 

 

Transamerica Funds

     Page    6         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Pharmaceuticals - 1.5%  

Bausch Health Americas, Inc.

      

8.50%, 01/31/2027 (A) (B)

      $   3,188,000        $   2,016,410  

9.25%, 04/01/2026 (A) (B)

      1,637,000        1,138,550  

Bausch Health Cos., Inc.

      

5.00%, 01/30/2028 - 02/15/2029 (B)

      2,008,000        1,030,668  

5.25%, 01/30/2030 (B)

      1,394,000        723,793  

5.50%, 11/01/2025 (B)

      1,346,000        1,197,940  

7.00%, 01/15/2028 (B)

      3,255,000        1,806,525  

9.00%, 12/15/2025
06/02/2021 (B)

      1,353,000        977,543  

Endo Dac / Endo Finance LLC / Endo Finco, Inc.

      

9.50%, 07/31/2027 (B)

      1,889,000        453,360  

Endo Luxembourg Finance Co. I SARL / Endo US, Inc.

      

6.13%, 04/01/2029 (A) (B)

      3,300,000        2,648,250  

Organon & Co. / Organon Foreign Debt Co-Issuer BV

      

4.13%, 04/30/2028 (B)

      2,786,000        2,642,632  

5.13%, 04/30/2031 (B)

      1,694,000        1,606,081  

Par Pharmaceutical, Inc.

      

7.50%, 04/01/2027 (B)

      4,763,000        3,817,973  
     

 

 

  
        20,059,725  
     

 

 

  
Real Estate Management & Development - 0.2%  

Cushman & Wakefield US Borrower LLC

      

6.75%, 05/15/2028 (B)

      3,176,000        3,129,027  
     

 

 

  
Road & Rail - 1.0%  

Hertz Corp.

      

4.63%, 12/01/2026 (B)

      593,000        527,770  

5.00%, 12/01/2029 (B)

      2,126,000        1,817,826  

Uber Technologies, Inc.

      

4.50%, 08/15/2029 (B)

      3,022,000        2,701,003  

7.50%, 09/15/2027 (B)

      4,966,000        5,028,075  

8.00%, 11/01/2026 (B)

      3,386,000        3,448,530  
     

 

 

  
        13,523,204  
     

 

 

  
Software - 1.5%  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029 (A)

      4,095,000        3,740,496  

Helios Software Holdings, Inc. / ION Corp. Solutions Finance SARL

      

4.63%, 05/01/2028 (B)

      7,057,000        5,612,753  

NCR Corp.

      

5.00%, 10/01/2028 (A) (B)

      2,166,000        2,060,379  

5.13%, 04/15/2029 (B)

      3,366,000        3,231,612  

5.25%, 10/01/2030 (A) (B)

      1,709,000        1,648,895  

5.75%, 09/01/2027 (B)

      1,278,000        1,250,037  

6.13%, 09/01/2029 (A) (B)

      2,085,000        2,029,955  
     

 

 

  
        19,574,127  
     

 

 

  
Specialty Retail - 1.1%  

Bath & Body Works, Inc.

      

5.25%, 02/01/2028

      743,000        700,582  

6.75%, 07/01/2036

      1,960,000        1,778,700  

6.88%, 11/01/2035 (A)

      1,468,000        1,345,613  

7.50%, 06/15/2029

      4,485,000        4,447,192  

9.38%, 07/01/2025 (B)

      522,000        545,582  

Gap, Inc.

      

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

      812,000        595,561  

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

      812,000        584,640  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Specialty Retail (continued)  

Staples, Inc.

      

7.50%, 04/15/2026 (B)

      $   5,296,000        $   4,668,742  
     

 

 

  
        14,666,612  
     

 

 

  
Technology Hardware, Storage & Peripherals - 0.2%  

Western Digital Corp.

      

4.75%, 02/15/2026

      3,292,000        3,242,543  
     

 

 

  
Trading Companies & Distributors - 1.4%  

Boise Cascade Co.

      

4.88%, 07/01/2030 (B)

      4,950,000        4,491,927  

Herc Holdings, Inc.

      

5.50%, 07/15/2027 (B)

      8,025,000        8,035,031  

United Rentals North America, Inc.

      

3.75%, 01/15/2032

      2,679,000        2,354,895  

4.00%, 07/15/2030

      4,263,000        3,921,960  
     

 

 

  
        18,803,813  
     

 

 

  
Wireless Telecommunication Services - 1.4%  

Altice France SA

      

5.50%, 10/15/2029 (B)

      4,141,000        3,574,884  

8.13%, 02/01/2027 (B)

      2,933,000        2,896,250  

Sprint Corp.

      

7.63%, 03/01/2026

      1,427,000        1,565,233  

T-Mobile USA, Inc.

      

2.25%, 02/15/2026

      1,052,000        982,305  

2.63%, 02/15/2029

      1,110,000        990,730  

2.88%, 02/15/2031

      1,127,000        992,656  

3.38%, 04/15/2029

      3,160,000        2,950,144  

Vmed O2 Financing I PLC

      

4.25%, 01/31/2031 (B)

      2,322,000        2,033,817  

4.75%, 07/15/2031 (B)

      2,529,000        2,288,745  
     

 

 

  
        18,274,764  
     

 

 

  

Total Corporate Debt Securities
(Cost $1,424,135,008)

 

      1,282,196,491  
  

 

 

  
LOAN ASSIGNMENTS - 0.6%  
Communications Equipment - 0.3%  

Avaya, Inc.

      

Term Loan B,

      

1-Month LIBOR + 4.25%,
6.25% (D), 12/15/2027

      5,009,865        2,567,556  

Term Loan B2,

      

1-Month LIBOR + 4.00%,
6.00% (D), 12/15/2027

      2,625,000        1,345,312  
     

 

 

  
        3,912,868  
     

 

 

  
Diversified Telecommunication Services - 0.3%  

Zayo Group Holdings, Inc.

      

Term Loan,

      

1-Month LIBOR + 3.00%,
5.37% (D), 03/09/2027

      4,476,329        4,125,497  
     

 

 

  

Total Loan Assignments
(Cost $12,048,064)

 

      8,038,365  
  

 

 

  
     Shares      Value  
COMMON STOCKS - 0.1%  

Building Products - 0.0% (K)

 

Associated Materials LLC / AMH New Finance, Inc. (G) (I)

      1,593,380        2  
     

 

 

  
 

 

Transamerica Funds

     Page    7         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Diversified Telecommunication Services - 0.1%  

Intelsat SA (G) (I)

      31,634        $   822,484  
     

 

 

  
Electric Utilities - 0.0% (K)  

Homer City Generation LLC (G) (I) (L)

      270,659        2,707  
     

 

 

  
Oil, Gas & Consumable Fuels - 0.0% (K)  

Ultra Resources, Inc. (G) (H) (I)

      3,226        0  
     

 

 

  
Software - 0.0% (K)  

ASG WT Corp. (G) (I)

      1,265        155,468  
     

 

 

  

Total Common Stocks
(Cost $16,880,077)

 

      980,661  
  

 

 

  
WARRANT - 0.0% (K)  
Construction & Engineering - 0.0% (K)  

Abengoa Abenewco 2 SA, (B) (G) (I) (M) (N)

      

Exercise Price EUR 0,

      

Expiration Date 10/26/2024

      2,023,470        20  
     

 

 

  

Total Warrant
(Cost $273,488)

 

      20  
  

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 8.5%  
Securities Lending Collateral - 8.5%  

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

      114,790,360        $   114,790,360  
     

 

 

  

Total Other Investment Company
(Cost $114,790,360)

 

      114,790,360  
  

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 2.7%  

Fixed Income Clearing Corp., 0.65% (O), dated 07/29/2022, to be repurchased at $36,193,448 on 08/01/2022. Collateralized by a U.S. Government Obligation, 3.00%, due 07/15/2025, and with a value of $36,915,409.

      $  36,191,488        36,191,488  
     

 

 

  

Total Repurchase Agreement
(Cost $36,191,488)

 

      36,191,488  
  

 

 

  

Total Investments
(Cost $1,604,318,485)

 

      1,442,197,385  

Net Other Assets (Liabilities) - (7.1)%

         (95,775,496 ) 
     

 

 

  

Net Assets - 100.0%

         $  1,346,421,889  
     

 

 

  
 

 

INVESTMENT VALUATION:

 

Valuation Inputs (P)

 

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

ASSETS

 

Investments

            

Corporate Debt Securities

    $ —        $ 1,282,196,298      $ 193      $ 1,282,196,491  

Loan Assignments

      —          8,038,365        —          8,038,365  

Common Stocks

      —          —          980,661        980,661  

Warrant

      —          —          20        20  

Other Investment Company

      114,790,360        —          —          114,790,360  

Repurchase Agreement

      —          36,191,488        —          36,191,488  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $     114,790,360      $     1,326,426,151      $     980,874      $     1,442,197,385  
  

 

 

     

 

 

     

 

 

     

 

 

  

Transfers

 

Investments

    Transfers from
Level 1 to Level 3		      Transfers from
Level 3 to Level 1		      Transfers from
Level 2 to Level 3		      Transfers from
Level 3 to Level 2		  

Warrant (N)

    $     —        $     —        $     20      $     —    
  

 

 

     

 

 

     

 

 

     

 

 

  

 

Transamerica Funds

     Page    8         

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      All or a portion of the securities are on loan. The total value of all securities on loan is $118,736,644, collateralized by cash collateral of $114,790,360 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $6,453,600. 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.
(B)      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 $912,198,166, representing 67.7% of the Fund’s net assets.
(C)      Perpetual maturity. The date displayed is the next call date.
(D)      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.
(E)      When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after July 31, 2022. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(F)      Payment in-kind. Securities pay interest or dividends in the form of additional bonds or preferred stock. If the securities make a cash payment in addition to in-kind, the cash rate is disclosed separately.
(G)      Securities are Level 3 of the fair value hierarchy.
(H)      Security deemed worthless.
(I)      Fair valued as determined in good faith in accordance with procedures established by the Board. At July 31, 2022, the total value of securities is $980,874, representing 0.1% of the Fund’s net assets.
(J)      Escrow position. Position represents remaining escrow balance expected to be received upon finalization of restructuring.
(K)      Percentage rounds to less than 0.1% or (0.1)%.
(L)      Restricted security. At July 31, 2022, the value of such security held by the Fund is as follows:

 

Investments

   

Description

    Acquisition
Date		      Acquisition
Cost		      Value      Value as
Percentage of
Net Assets		  

Common Stocks

   

Homer City Generation LLC

      01/10/2011 - 03/24/2017      $     13,906,767      $     2,707        0.0 %(K) 

 

(M)      Non-income producing security.
(N)      Transferred from Level 2 to 3 due to utilizing significant unobservable inputs. As of prior reporting period, the security utilized significant observable inputs.
(O)      Rates disclosed reflect the yields at July 31, 2022.
(P)      The Fund recognized transfers in and 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.
(Q)      Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

 

CMT

    Constant Maturity Treasury

LIBOR

    London Interbank Offered Rate

 

Transamerica Funds

     Page    9         

Transamerica High Yield Bond

 

NOTES TO SCHEDULE OF INVESTMENTS

At July 31, 2022

(unaudited)

 

INVESTMENT VALUATION

Transamerica High Yield 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.

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:

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.

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.

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.

Foreign equity securities: Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, or ETFs and the movement of certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

 

Transamerica Funds

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Transamerica High Yield Bond

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At July 31, 2022

(unaudited)

 

Warrants: Warrants may be priced intrinsically using a model that incorporates the subscription or strike price, the daily market price for the underlying security, and a subscription ratio. If the inputs are unavailable, or if the subscription or strike price is higher than the market price, then the warrants are priced at zero. Warrants are generally 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.

Restricted securities: Restricted securities for which quotations are not readily available are valued at fair value. Restricted securities issued by publicly traded companies are generally valued at a discount to similar publicly traded securities. Restricted securities issued by nonpublic entities may be valued by reference to comparable public entities and/or fundamental data relating to the issuer. Depending on the relative significance of observable valuation inputs, these instruments may be classified in either Level 2 or Level 3 of the fair value hierarchy.

 

Transamerica Funds

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