NPORT-EX 2 NPORT_IBDK_56172057_0123.htm FOR VALIDATION PURPOSES ONLY - [447377.IBDK]

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS - 60.5%  
Aerospace & Defense - 0.9%  

General Dynamics Corp.

     3,245        $  756,280  

Howmet Aerospace, Inc.

     8,870        360,920  

Raytheon Technologies Corp.

     63,370        6,327,494  

Textron, Inc.

     33,567        2,445,356  
     

 

 

 
        9,890,050  
     

 

 

 
Air Freight & Logistics - 0.6%  

United Parcel Service, Inc., Class B

     36,110        6,688,655  
     

 

 

 
Airlines - 0.1%  

Southwest Airlines Co.

     18,125        648,331  
     

 

 

 
Auto Components - 0.1%  

Magna International, Inc. (A)

     17,141        1,113,137  
     

 

 

 
Automobiles - 0.8%  

Tesla, Inc. (B)

     52,446        9,084,696  
     

 

 

 
Banks - 2.5%  

Bank of America Corp.

     153,716        5,453,844  

Citigroup, Inc.

     39,511        2,063,264  

Fifth Third Bancorp

     55,175        2,002,301  

SVB Financial Group (B)

     1,909        577,358  

Truist Financial Corp.

     84,323        4,164,713  

US Bancorp

     120,011        5,976,548  

Wells Fargo & Co.

     166,049        7,782,716  
     

 

 

 
        28,020,744  
     

 

 

 
Beverages - 1.4%  

Coca-Cola Co.

     131,837        8,084,245  

Constellation Brands, Inc., Class A

     11,908        2,756,940  

Monster Beverage Corp. (B)

     7,689        800,271  

PepsiCo, Inc.

     24,911        4,260,279  
     

 

 

 
        15,901,735  
     

 

 

 
Biotechnology - 1.9%  

AbbVie, Inc.

     57,627        8,514,389  

Biogen, Inc. (B)

     8,060        2,344,654  

BioMarin Pharmaceutical, Inc. (B)

     6,188        713,786  

Neurocrine Biosciences, Inc. (B)

     5,588        619,877  

Regeneron Pharmaceuticals, Inc. (B)

     5,536        4,198,890  

Sarepta Therapeutics, Inc. (B)

     6,275        784,187  

Vertex Pharmaceuticals, Inc. (B)

     12,382        4,000,624  
     

 

 

 
        21,176,407  
     

 

 

 
Building Products - 0.6%  

Masco Corp.

     30,818        1,639,518  

Trane Technologies PLC

     25,153        4,505,405  
     

 

 

 
        6,144,923  
     

 

 

 
Capital Markets - 1.1%  

Ameriprise Financial, Inc.

     3,725        1,304,197  

CME Group, Inc.

     21,125        3,731,942  

Morgan Stanley

     33,306        3,241,673  

Raymond James Financial, Inc.

     17,015        1,918,782  

State Street Corp.

     16,882        1,541,833  
     

 

 

 
        11,738,427  
     

 

 

 
Chemicals - 1.3%  

Air Products & Chemicals, Inc.

     4,201        1,346,463  

Celanese Corp.

     4,335        534,072  
     Shares      Value  
COMMON STOCKS (continued)  
Chemicals (continued)  

Dow, Inc.

     18,313        $   1,086,877  

DuPont de Nemours, Inc.

     15,051        1,113,021  

Eastman Chemical Co.

     23,030        2,030,555  

Linde PLC

     15,359        5,082,907  

LyondellBasell Industries NV, Class A

     5,643        545,622  

PPG Industries, Inc.

     20,377        2,655,938  
     

 

 

 
        14,395,455  
     

 

 

 
Commercial Services & Supplies - 0.1%  

Cintas Corp.

     1,993        884,374  
     

 

 

 
Communications Equipment - 0.1%  

Motorola Solutions, Inc.

     5,852        1,504,023  
     

 

 

 
Construction Materials - 0.0% (C)  

Martin Marietta Materials, Inc.

     1,492        536,583  
     

 

 

 
Consumer Finance - 0.9%  

American Express Co.

     34,846        6,095,611  

Capital One Financial Corp.

     5,674        675,206  

S&P Global, Inc.

     9,421        3,532,310  
     

 

 

 
        10,303,127  
     

 

 

 
Containers & Packaging - 0.0% (C)  

Avery Dennison Corp.

     2,730        517,171  
     

 

 

 
Diversified Financial Services - 1.2%  

Berkshire Hathaway, Inc., Class B (B)

     32,086        9,995,431  

Intercontinental Exchange, Inc.

     29,670        3,191,008  
     

 

 

 
        13,186,439  
     

 

 

 
Diversified Telecommunication Services - 0.0% (C)  

AT&T, Inc.

     10,250        208,793  
     

 

 

 
Electric Utilities - 0.9%  

FirstEnergy Corp.

     15,797        646,887  

NextEra Energy, Inc.

     89,184        6,655,802  

PG&E Corp. (B)

     159,650        2,538,435  
     

 

 

 
        9,841,124  
     

 

 

 
Electrical Equipment - 0.4%  

Eaton Corp. PLC

     24,860        4,032,541  
     

 

 

 
Electronic Equipment, Instruments & Components - 0.2%  

Corning, Inc.

     25,167        871,030  

TE Connectivity Ltd.

     6,520        829,018  
     

 

 

 
        1,700,048  
     

 

 

 
Energy Equipment & Services - 0.1%  

Baker Hughes Co.

     35,007        1,111,122  
     

 

 

 
Entertainment - 0.5%  

Netflix, Inc. (B)

     11,801        4,175,902  

Walt Disney Co. (B)

     8,975        973,698  
     

 

 

 
        5,149,600  
     

 

 

 
Equity Real Estate Investment Trusts - 1.7%  

Camden Property Trust

     4,118        507,379  

Equinix, Inc.

     2,911        2,148,696  

Equity LifeStyle Properties, Inc.

     19,958        1,432,585  

Host Hotels & Resorts, Inc.

     17,048        321,355  

Prologis, Inc.

     40,040        5,176,371  

SBA Communications Corp.

     11,194        3,330,551  

Sun Communities, Inc.

     10,442        1,637,932  
 

 

Transamerica Funds

    Page    1         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Equity Real Estate Investment Trusts (continued)  

UDR, Inc.

     37,629        $   1,602,619  

Ventas, Inc.

     49,437        2,561,331  
     

 

 

 
        18,718,819  
     

 

 

 
Food & Staples Retailing - 0.5%  

Costco Wholesale Corp.

     10,469        5,351,125  
     

 

 

 
Food Products - 0.2%  

Mondelez International, Inc., Class A

     30,915        2,023,078  
     

 

 

 
Health Care Equipment & Supplies - 1.5%  

Abbott Laboratories

     35,262        3,898,214  

Baxter International, Inc.

     42,542        1,943,744  

Boston Scientific Corp. (B)

     66,691        3,084,459  

Dexcom, Inc. (B)

     7,820        837,444  

Intuitive Surgical, Inc. (B)

     14,657        3,601,078  

Medtronic PLC

     31,395        2,627,447  

Zimmer Biomet Holdings, Inc.

     6,823        868,841  
     

 

 

 
        16,861,227  
     

 

 

 
Health Care Providers & Services - 2.0%  

Centene Corp. (B)

     30,964        2,360,695  

CVS Health Corp.

     10,723        945,983  

Elevance Health, Inc.

     8,238        4,118,918  

Humana, Inc.

     3,651        1,868,217  

McKesson Corp.

     4,811        1,821,829  

UnitedHealth Group, Inc.

     23,303        11,632,625  
     

 

 

 
        22,748,267  
     

 

 

 
Hotels, Restaurants & Leisure - 1.7%  

Booking Holdings, Inc. (B)

     1,892        4,605,317  

Chipotle Mexican Grill, Inc. (B)

     2,028        3,338,859  

Domino’s Pizza, Inc.

     2,548        899,444  

Expedia Group, Inc. (B)

     16,016        1,830,629  

Marriott International, Inc., Class A

     13,000        2,264,340  

McDonald’s Corp.

     12,731        3,404,269  

Royal Caribbean Cruises Ltd. (A) (B)

     4,154        269,761  

Yum! Brands, Inc.

     14,407        1,880,257  
     

 

 

 
        18,492,876  
     

 

 

 
Household Durables - 0.2%  

Lennar Corp., Class A

     17,375        1,779,200  

Toll Brothers, Inc.

     14,998        892,231  
     

 

 

 
        2,671,431  
     

 

 

 
Household Products - 1.0%  

Colgate-Palmolive Co.

     49,476        3,687,446  

Kimberly-Clark Corp.

     14,744        1,916,867  

Procter & Gamble Co.

     38,883        5,536,162  
     

 

 

 
        11,140,475  
     

 

 

 
Industrial Conglomerates - 0.7%  

Honeywell International, Inc.

     35,788        7,461,082  
     

 

 

 
Insurance - 1.3%  

Aon PLC, Class A

     4,179        1,331,764  

Globe Life, Inc.

     11,232        1,357,387  

Progressive Corp.

     43,076        5,873,412  

Prudential Financial, Inc.

     7,406        777,186  

Travelers Cos., Inc.

     24,042        4,594,907  
     

 

 

 
        13,934,656  
     

 

 

 
Interactive Media & Services - 2.9%  

Alphabet, Inc., Class A (B)

     140,461        13,883,165  
     Shares      Value  
COMMON STOCKS (continued)  
Interactive Media & Services (continued)  

Alphabet, Inc., Class C (B)

     103,363        $   10,322,863  

Meta Platforms, Inc., Class A (B)

     55,283        8,235,509  
     

 

 

 
        32,441,537  
     

 

 

 
Internet & Direct Marketing Retail - 1.8%  

Amazon.com, Inc. (B)

     195,924        20,205,642  
     

 

 

 
IT Services - 2.7%  

Accenture PLC, Class A

     22,173        6,187,376  

Affirm Holdings, Inc. (A) (B)

     10,017        162,175  

Block, Inc. (B)

     5,399        441,206  

Cognizant Technology Solutions Corp., Class A

     15,325        1,022,944  

FleetCor Technologies, Inc. (B)

     11,961        2,497,577  

Mastercard, Inc., Class A

     30,724        11,386,314  

Visa, Inc., Class A (A)

     35,730        8,225,403  
     

 

 

 
        29,922,995  
     

 

 

 
Life Sciences Tools & Services - 1.1%  

Danaher Corp.

     14,721        3,891,938  

Thermo Fisher Scientific, Inc.

     13,901        7,928,157  
     

 

 

 
        11,820,095  
     

 

 

 
Machinery - 1.2%  

Deere & Co.

     12,837        5,427,997  

Dover Corp.

     10,526        1,598,163  

Ingersoll Rand, Inc.

     7,791        436,296  

Otis Worldwide Corp.

     30,679        2,522,734  

Parker-Hannifin Corp.

     11,563        3,769,538  
     

 

 

 
        13,754,728  
     

 

 

 
Media - 0.8%  

Charter Communications, Inc., Class A (B)

     8,442        3,244,345  

Comcast Corp., Class A

     141,796        5,579,673  
     

 

 

 
        8,824,018  
     

 

 

 
Metals & Mining - 0.2%  

Freeport-McMoRan, Inc.

     23,540        1,050,355  

Nucor Corp.

     7,285        1,231,311  
     

 

 

 
        2,281,666  
     

 

 

 
Multi-Utilities - 0.9%  

Ameren Corp.

     19,622        1,704,563  

CenterPoint Energy, Inc.

     65,491        1,972,589  

Dominion Energy, Inc.

     6,206        394,950  

Public Service Enterprise Group, Inc.

     40,278        2,494,416  

Sempra Energy

     18,378        2,946,545  
     

 

 

 
        9,513,063  
     

 

 

 
Multiline Retail - 0.1%  

Target Corp.

     3,410        586,997  
     

 

 

 
Oil, Gas & Consumable Fuels - 3.0%  

Chevron Corp.

     15,823        2,753,519  

ConocoPhillips

     57,944        7,061,635  

Coterra Energy, Inc.

     23,695        593,086  

Diamondback Energy, Inc.

     28,483        4,161,936  

EOG Resources, Inc.

     31,489        4,164,420  

Exxon Mobil Corp.

     111,238        12,904,720  

Marathon Oil Corp.

     39,699        1,090,532  

Phillips 66

     4,957        497,038  
     

 

 

 
        33,226,886  
     

 

 

 
Pharmaceuticals - 2.3%  

Bristol-Myers Squibb Co.

     90,687        6,588,411  
 

 

Transamerica Funds

    Page    2         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Pharmaceuticals (continued)  

Eli Lilly & Co.

     19,263        $   6,629,361  

Johnson & Johnson

     35,348        5,776,570  

Merck & Co., Inc.

     43,593        4,682,324  

Pfizer, Inc.

     44,526        1,966,268  
     

 

 

 
        25,642,934  
     

 

 

 
Professional Services - 0.2%  

Booz Allen Hamilton Holding Corp.

     5,839        552,603  

Leidos Holdings, Inc.

     17,086        1,688,780  
     

 

 

 
        2,241,383  
     

 

 

 
Road & Rail - 0.7%  

CSX Corp.

     40,914        1,265,061  

Norfolk Southern Corp.

     13,706        3,369,072  

Uber Technologies, Inc. (B)

     22,214        687,079  

Union Pacific Corp.

     12,200        2,491,118  
     

 

 

 
        7,812,330  
     

 

 

 
Semiconductors & Semiconductor Equipment - 3.7%  

Advanced Micro Devices, Inc. (B)

     55,855        4,197,503  

Analog Devices, Inc.

     31,961        5,480,353  

Broadcom, Inc.

     2,088        1,221,501  

Lam Research Corp.

     10,604        5,303,060  

Microchip Technology, Inc.

     16,512        1,281,662  

NVIDIA Corp.

     41,781        8,162,754  

NXP Semiconductors NV

     32,013        5,900,316  

Qorvo, Inc. (B)

     2,958        321,416  

QUALCOMM, Inc.

     2,281        303,852  

Teradyne, Inc.

     16,729        1,701,339  

Texas Instruments, Inc.

     41,063        7,276,774  
     

 

 

 
        41,150,530  
     

 

 

 
Software - 5.1%  

Adobe, Inc. (B)

     15,551        5,759,157  

Cadence Design Systems, Inc. (B)

     5,191        949,071  

DocuSign, Inc. (B)

     7,387        447,948  

Intuit, Inc.

     10,114        4,274,884  

Microsoft Corp.

     162,203        40,195,525  

Oracle Corp.

     30,160        2,667,954  

Salesforce, Inc. (B)

     2,978        500,215  

Workday, Inc., Class A (B)

     9,644        1,749,711  
     

 

 

 
        56,544,465  
     

 

 

 
Specialty Retail - 2.2%  

AutoNation, Inc. (B)

     8,544        1,082,696  

AutoZone, Inc. (B)

     1,490        3,633,886  

Best Buy Co., Inc.

     28,866        2,560,991  

Burlington Stores, Inc. (B)

     5,954        1,368,408  

Home Depot, Inc.

     12,348        4,002,851  

Lowe’s Cos., Inc.

     33,423        6,960,340  

O’Reilly Automotive, Inc. (B)

     3,345        2,650,411  

TJX Cos., Inc.

     25,895        2,119,765  
     

 

 

 
        24,379,348  
     

 

 

 
Technology Hardware, Storage & Peripherals - 4.1%  

Apple, Inc.

     295,851        42,688,341  

Seagate Technology Holdings PLC

     37,472        2,539,852  
     

 

 

 
        45,228,193  
     

 

 

 
Textiles, Apparel & Luxury Goods - 0.3%  

NIKE, Inc., Class B

     30,181        3,842,947  
     

 

 

 
     Shares      Value  
COMMON STOCKS (continued)  
Tobacco - 0.4%  

Altria Group, Inc.

     34,839        $   1,569,149  

Philip Morris International, Inc.

     23,502        2,449,848  
     

 

 

 
        4,018,997  
     

 

 

 
Wireless Telecommunication Services - 0.3%  

T-Mobile US, Inc. (B)

     21,839        3,260,781  
     

 

 

 

Total Common Stocks
(Cost $394,968,323)

 

     669,880,076  
  

 

 

 
PREFERRED STOCKS - 0.1%  
Banks - 0.1%  

Citigroup Capital XIII,

     

3-Month LIBOR + 6.37%, 11.17% (D)

     29,988        861,255  
     

 

 

 
Electric Utilities - 0.0% (C)  

SCE Trust III,

     

Series H, Fixed until 03/15/2024, 5.75% (D)

     960        21,456  
     

 

 

 

Total Preferred Stocks
(Cost $872,517)

 

     882,711  
  

 

 

 
     Principal      Value  
ASSET-BACKED SECURITIES - 2.2%  

321 Henderson Receivables VI LLC

     

Series 2010-1A, Class A,

     

5.56%, 07/15/2059 (E)

     $  161,494        157,576  

Accelerated LLC

     

Series 2021-1H, Class A,

     

1.35%, 10/20/2040 (E)

     279,264        254,720  

Bavarian Sky UK 5 PLC

     

Series 2014-1A, Class A1A2,

     

3-Month LIBOR + 1.20%,
6.01% (D), 10/20/2034 (E)

     2,200,000        2,137,243  

BRE Grand Islander Timeshare Issuer LLC

     

Series 2017-1A, Class A,

     

2.94%, 05/25/2029 (E)

     130,063        125,973  

BXG Receivables Note Trust

     

Series 2015-A, Class A,

     

2.88%, 05/02/2030 (E)

     94,533        90,863  

CIFC Funding Ltd.

     

Series 2013-2A, Class A1L2,

     

3-Month LIBOR + 1.00%,
5.79% (D), 10/18/2030 (E)

     2,474,096        2,455,852  

Diamond Resorts Owner Trust

     

Series 2019-1A, Class A,

     

2.89%, 02/20/2032 (E)

     80,363        78,760  

GM Financial Consumer Automobile Receivables Trust

     

Series 2023-1, Class A2A,

     

5.19%, 03/16/2026

     480,000        480,613  

GoodLeap Sustainable Home Solutions Trust

     

Series 2021-4GS, Class A,

     

1.93%, 07/20/2048 (E)

     793,150        605,638  

Series 2021-5CS, Class A,

     

2.31%, 10/20/2048 (E)

     927,443        754,256  

Series 2022-1GS, Class A,

     

2.70%, 01/20/2049 (E)

     1,226,703        1,016,538  
 

 

Transamerica Funds

    Page    3         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

JG Wentworth XXII LLC

     

Series 2010-3A, Class A,

     

3.82%, 12/15/2048 (E)

     $   267,641        $   261,320  

JGWPT XXVIII LLC

     

Series 2013-1A, Class A,

     

3.22%, 04/15/2067 (E)

     663,072        583,788  

Laurel Road Prime Student Loan Trust

     

Series 2018-B, Class A2FX,

     

3.54%, 05/26/2043 (E)

     40,271        39,533  

Longfellow Place CLO Ltd.

     

Series 2013-1A, Class AR3,

     

3-Month LIBOR + 1.00%,
5.79% (D), 04/15/2029 (E)

     181,471        180,820  

MVW LLC

     

Series 2021-1WA, Class A,

     

1.14%, 01/22/2041 (E)

     523,937        478,472  

MVW Owner Trust

     

Series 2019-1A, Class A,

     

2.89%, 11/20/2036 (E)

     94,903        90,177  

New Residential Advance Receivables Trust

     

Series 2020-T1, Class AT1,

     

1.43%, 08/15/2053 (E)

     1,950,000        1,890,502  

NRZ Advance Receivables Trust

     

Series 2020-T2, Class AT2,

     

1.48%, 09/15/2053 (E)

     1,899,640        1,838,801  

Octagon Investment Partners 33 Ltd.

     

Series 2017-1A, Class A1,

     

3-Month LIBOR + 1.19%,
6.00% (D), 01/20/2031 (E)

     800,000        794,368  

Orange Lake Timeshare Trust

     

Series 2016-A, Class A,

     

2.61%, 03/08/2029 (E)

     189,363        182,181  

Series 2018-A, Class A,

     

3.10%, 11/08/2030 (E)

     31,553        30,606  

Series 2018-A, Class B,

     

3.35%, 11/08/2030 (E)

     25,816        25,032  

Series 2019-A, Class A,

     

3.06%, 04/09/2038 (E)

     221,977        213,656  

Palmer Square CLO Ltd.

     

Series 2015-2A, Class A1R2,

     

3-Month LIBOR + 1.10%,
5.91% (D), 07/20/2030 (E)

     1,898,487        1,884,273  

Sierra Timeshare Receivables Funding LLC

     

Series 2020-2A, Class A,

     

1.33%, 07/20/2037 (E)

     208,633        197,126  

Series 2021-1A, Class A,

     

0.99%, 11/20/2037 (E)

     660,569        615,405  

Towd Point Mortgage Trust

     

Series 2017-1, Class A1,

     

2.75% (D), 10/25/2056 (E)

     101,765        100,248  

Series 2017-2, Class A1,

     

2.75% (D), 04/25/2057 (E)

     103,532        102,290  

Series 2017-3, Class A1,

     

2.75% (D), 07/25/2057 (E)

     78,388        76,320  

Series 2017-4, Class A1,

     

2.75% (D), 06/25/2057 (E)

     441,622        421,181  

Series 2017-6, Class A1,

     

2.75% (D), 10/25/2057 (E)

     229,600        219,313  

Series 2018-1, Class A1,

     

3.00% (D), 01/25/2058 (E)

     309,857        299,880  

Series 2018-3, Class A1,

     

3.75% (D), 05/25/2058 (E)

     661,694        635,129  
     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

Towd Point Mortgage Trust (continued)

     

Series 2018-4, Class A1,

     

3.00% (D), 06/25/2058 (E)

     $   1,293,553        $   1,204,697  

Series 2019-1, Class A1,

     

3.73% (D), 03/25/2058 (E)

     722,385        695,342  

Series 2020-4, Class A1,

     

1.75%, 10/25/2060 (E)

     1,084,564        971,628  

Trafigura Securitisation Finance PLC

     

Series 2021-1A, Class A2,

     

1.08%, 01/15/2025 (E)

     1,300,000        1,179,023  

Welk Resorts LLC

     

Series 2017-AA, Class A,

     

2.82%, 06/15/2033 (E)

     163,783        163,056  

Wellfleet CLO Ltd.

     

Series 2016-2A, Class A1R,

     

3-Month LIBOR + 1.14%,
5.95% (D), 10/20/2028 (E)

     447,997        444,284  
     

 

 

 

Total Asset-Backed Securities
(Cost $25,627,531)

 

     23,976,483  
  

 

 

 
CORPORATE DEBT SECURITIES - 13.8%  
Aerospace & Defense - 0.3%  

Boeing Co.

     

3.50%, 03/01/2039

     1,494,000        1,160,296  

5.15%, 05/01/2030

     872,000        876,968  

Huntington Ingalls Industries, Inc.

     

2.04%, 08/16/2028

     1,103,000        931,260  
     

 

 

 
        2,968,524  
     

 

 

 
Air Freight & Logistics - 0.1%  

GXO Logistics, Inc.

     

2.65%, 07/15/2031

     1,760,000        1,379,166  
     

 

 

 
Airlines - 0.1%  

American Airlines Pass-Through Trust

     

3.20%, 12/15/2029

     552,981        491,832  

United Airlines Pass-Through Trust

     

3.75%, 03/03/2028

     584,833        545,197  
     

 

 

 
        1,037,029  
     

 

 

 
Auto Components - 0.1%  

Aptiv PLC / Aptiv Corp.

     

3.25%, 03/01/2032

     554,000        477,039  

BorgWarner, Inc.

     

3.38%, 03/15/2025 (A)

     572,000        552,334  
     

 

 

 
        1,029,373  
     

 

 

 
Automobiles - 0.1%  

General Motors Co.

     

6.25%, 10/02/2043

     262,000        259,849  

Stellantis Finance US, Inc.

     

6.38%, 09/12/2032 (E)

     661,000        688,109  
     

 

 

 
        947,958  
     

 

 

 
Banks - 1.7%  

Bank of America Corp.

     

Fixed until 04/24/2027,
3.71% (D), 04/24/2028

     872,000        830,449  

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

     2,086,000        2,010,402  

Barclays PLC

     

Fixed until 11/02/2025,
7.33% (D), 11/02/2026

     1,291,000        1,354,583  

Citigroup, Inc.

     

Fixed until 10/27/2027,
3.52% (D), 10/27/2028

     2,370,000        2,216,228  
 

 

Transamerica Funds

    Page    4         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

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

Commerzbank AG

     

8.13%, 09/19/2023 (E)

     $   1,955,000        $   1,972,925  

Intesa Sanpaolo SpA

     

5.02%, 06/26/2024 (E)

     420,000        409,630  

Fixed until 11/21/2032,
8.25% (D), 11/21/2033 (E)

     1,667,000        1,819,218  

JPMorgan Chase & Co.

     

Fixed until 04/22/2026,
1.58% (D), 04/22/2027

     1,512,000        1,357,245  

Fixed until 02/01/2027,
3.78% (D), 02/01/2028

     507,000        486,625  

Fixed until 09/14/2032,
5.72% (D), 09/14/2033

     1,870,000        1,923,889  

Lloyds Banking Group PLC

     

Fixed until 08/15/2032,
7.95% (D), 11/15/2033

     807,000        919,719  

Truist Financial Corp.

     

5.12%, 01/26/2034

     1,300,000        1,313,040  

Wells Fargo & Co.

     

Fixed until 07/25/2027,
4.81% (D), 07/25/2028

     1,660,000        1,653,842  

Fixed until 06/15/2024 (F),
5.90% (D)

     513,000        500,816  
     

 

 

 
        18,768,611  
     

 

 

 
Beverages - 0.2%  

Anheuser-Busch InBev Worldwide, Inc.

     

4.44%, 10/06/2048

     888,000        814,580  

Constellation Brands, Inc.

     

3.15%, 08/01/2029

     575,000        523,727  

3.70%, 12/06/2026

     152,000        146,643  

Diageo Capital PLC

     

5.50%, 01/24/2033

     471,000        508,574  
     

 

 

 
        1,993,524  
     

 

 

 
Biotechnology - 0.2%  

AbbVie, Inc.

     

3.20%, 05/14/2026

     403,000        386,438  

4.05%, 11/21/2039

     733,000        657,784  

Amgen, Inc.

     

2.00%, 01/15/2032

     440,000        355,395  

CSL Finance PLC

     

4.63%, 04/27/2042 (E)

     513,000        490,028  

Gilead Sciences, Inc.

     

4.15%, 03/01/2047

     177,000        156,940  
     

 

 

 
        2,046,585  
     

 

 

 
Building Products - 0.3%  

Carlisle Cos., Inc.

     

2.20%, 03/01/2032

     784,000        624,129  

3.75%, 12/01/2027

     610,000        584,146  

Carrier Global Corp.

     

2.72%, 02/15/2030

     539,000        469,786  

Owens Corning

     

7.00%, 12/01/2036

     1,438,000        1,633,130  
     

 

 

 
        3,311,191  
     

 

 

 
Capital Markets - 0.7%  

Credit Suisse Group AG

     

Fixed until 09/11/2024,
2.59% (D), 09/11/2025 (E)

     772,000        705,743  

Fixed until 08/12/2032,
6.54% (D), 08/12/2033 (E)

     1,477,000        1,412,119  

Deutsche Bank AG

     

Fixed until 11/26/2024,
3.96% (D), 11/26/2025

     427,000        413,437  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Capital Markets (continued)  

Deutsche Bank AG (continued)

     

Fixed until 05/24/2023,
4.30% (D), 05/24/2028

     $   1,270,000        $   1,238,662  

Goldman Sachs Group, Inc.

     

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

     1,519,000        1,297,725  

Morgan Stanley

     

Fixed until 12/10/2025,
0.99% (D), 12/10/2026

     211,000        187,640  

Fixed until 07/20/2032,
4.89% (D), 07/20/2033

     785,000        775,499  

Fixed until 02/01/2028,
5.12% (D), 02/01/2029

     699,000        705,469  

Northern Trust Corp.

     

6.13%, 11/02/2032

     1,247,000        1,367,837  
     

 

 

 
        8,104,131  
     

 

 

 
Chemicals - 0.1%  

International Flavors & Fragrances, Inc.

     

2.30%, 11/01/2030 (E)

     664,000        549,364  
     

 

 

 
Commercial Services & Supplies - 0.2%  

ADT Security Corp.

     

4.13%, 08/01/2029 (E)

     793,000        705,199  

Ashtead Capital, Inc.

     

4.25%, 11/01/2029 (E)

     414,000        385,575  

5.55%, 05/30/2033 (E)

     628,000        629,020  

Triton Container International Ltd. / TAL International Container Corp.

     

3.25%, 03/15/2032

     1,038,000        845,306  
     

 

 

 
        2,565,100  
     

 

 

 
Construction & Engineering - 0.0% (C)  

Quanta Services, Inc.

     

2.90%, 10/01/2030

     499,000        427,470  
     

 

 

 
Consumer Finance - 0.5%  

Ally Financial, Inc.

     

8.00%, 11/01/2031

     1,196,000        1,309,784  

BMW US Capital LLC

     

2.80%, 04/11/2026 (E)

     806,000        764,136  

Ford Motor Credit Co. LLC

     

3.38%, 11/13/2025

     1,497,000        1,403,138  

General Motors Financial Co., Inc.

     

5.00%, 04/09/2027

     755,000        746,826  

Nissan Motor Acceptance Co. LLC

     

2.45%, 09/15/2028 (E)

     849,000        687,749  

Volkswagen Group of America Finance LLC

     

1.63%, 11/24/2027 (E)

     644,000        554,652  
     

 

 

 
        5,466,285  
     

 

 

 
Containers & Packaging - 0.1%  

Sonoco Products Co.

     

2.25%, 02/01/2027

     665,000        600,822  
     

 

 

 
Diversified Financial Services - 0.5%  

AerCap Ireland Capital DAC / AerCap Global Aviation Trust

     

3.85%, 10/29/2041

     1,096,000        851,393  

4.45%, 04/03/2026

     1,120,000        1,084,728  

4.50%, 09/15/2023

     849,000        844,325  

Aviation Capital Group LLC

     

1.95%, 01/30/2026 (E)

     677,000        601,902  

5.50%, 12/15/2024 (E)

     1,296,000        1,282,946  

Equitable Holdings, Inc.

     

5.59%, 01/11/2033

     1,284,000        1,311,195  
     

 

 

 
        5,976,489  
     

 

 

 
 

 

Transamerica Funds

    Page    5         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Diversified Telecommunication Services - 0.2%  

Sprint Capital Corp.

     

6.88%, 11/15/2028

     $   135,000        $   144,389  

Verizon Communications, Inc.

     

1.68%, 10/30/2030

     976,000        784,921  

2.99%, 10/30/2056

     1,656,000        1,094,648  
     

 

 

 
        2,023,958  
     

 

 

 
Electric Utilities - 0.6%  

Appalachian Power Co.

     

3.40%, 06/01/2025

     736,000        712,391  

Cleveland Electric Illuminating Co.

     

5.95%, 12/15/2036

     117,000        120,175  

DTE Electric Co.

     

4.30%, 07/01/2044

     1,430,000        1,305,931  

Duke Energy Corp.

     

3.75%, 04/15/2024 - 09/01/2046

     1,717,000        1,475,605  

Duke Energy Progress LLC

     

3.60%, 09/15/2047

     1,237,000        983,806  

Entergy Arkansas LLC

     

3.70%, 06/01/2024

     192,000        189,462  

Oncor Electric Delivery Co. LLC

     

5.30%, 06/01/2042

     70,000        73,693  

Pacific Gas & Electric Co.

     

2.50%, 02/01/2031

     611,000        491,812  

PacifiCorp

     

3.60%, 04/01/2024

     833,000        820,831  

5.75%, 04/01/2037

     117,000        125,307  

Public Service Electric & Gas Co.

     

3.00%, 05/15/2025

     424,000        408,878  
     

 

 

 
        6,707,891  
     

 

 

 
Electronic Equipment, Instruments & Components - 0.2%  

Arrow Electronics, Inc.

     

2.95%, 02/15/2032

     886,000        732,972  

Keysight Technologies, Inc.

     

4.60%, 04/06/2027

     724,000        723,457  

Sensata Technologies BV

     

4.00%, 04/15/2029 (E)

     200,000        179,261  

Sensata Technologies, Inc.

     

4.38%, 02/15/2030 (E)

     403,000        364,876  
     

 

 

 
        2,000,566  
     

 

 

 
Energy Equipment & Services - 0.1%  

Schlumberger Holdings Corp.

     

3.90%, 05/17/2028 (E)

     1,207,000        1,149,955  

Schlumberger Investment SA

     

3.65%, 12/01/2023

     98,000        96,872  
     

 

 

 
        1,246,827  
     

 

 

 
Equity Real Estate Investment Trusts - 1.1%  

American Tower Trust #1

     

3.65%, 03/23/2028 (E)

     508,000        476,376  

Broadstone Net Lease LLC

     

2.60%, 09/15/2031

     1,152,000        877,083  

Corporate Office Properties LP

     

2.00%, 01/15/2029

     257,000        203,236  

2.25%, 03/15/2026

     314,000        283,841  

Invitation Homes Operating Partnership LP

     

4.15%, 04/15/2032

     513,000        469,306  

Office Properties Income Trust

     

3.45%, 10/15/2031

     602,000        421,548  

Physicians Realty LP

     

2.63%, 11/01/2031

     951,000        778,631  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Equity Real Estate Investment Trusts (continued)  

Realty Income Corp.

     

5.63%, 10/13/2032

     $   393,000        $   415,567  

SBA Tower Trust

     

1.63%, 05/15/2051 (E)

     2,058,000        1,794,567  

1.88%, 07/15/2050 (E)

     746,000        669,737  

2.84%, 01/15/2050 (E)

     2,715,000        2,565,552  

Simon Property Group LP

     

2.20%, 02/01/2031

     717,000        589,832  

Ventas Realty LP

     

3.25%, 10/15/2026

     930,000        874,658  

VICI Properties LP

     

4.95%, 02/15/2030

     1,256,000        1,213,769  

Weyerhaeuser Co.

     

4.00%, 04/15/2030

     1,001,000        942,491  
     

 

 

 
        12,576,194  
     

 

 

 
Food & Staples Retailing - 0.2%  

7-Eleven, Inc.

     

1.80%, 02/10/2031 (E)

     1,001,000        796,303  

Sysco Corp.

     

3.30%, 07/15/2026

     945,000        907,920  
     

 

 

 
        1,704,223  
     

 

 

 
Food Products - 0.3%  

Bunge Ltd. Finance Corp.

     

2.75%, 05/14/2031

     957,000        817,526  

Cargill, Inc.

     

5.13%, 10/11/2032 (E)

     527,000        546,488  

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

     

3.00%, 02/02/2029 (E)

     440,000        377,674  

Pilgrim’s Pride Corp.

     

3.50%, 03/01/2032 (E)

     1,051,000        855,251  

Viterra Finance BV

     

4.90%, 04/21/2027 (E)

     878,000        842,768  
     

 

 

 
        3,439,707  
     

 

 

 
Health Care Equipment & Supplies - 0.1%  

Alcon Finance Corp.

     

2.75%, 09/23/2026 (E)

     600,000        556,962  

5.75%, 12/06/2052 (E)

     410,000        439,574  

GE HealthCare Technologies, Inc.

     

5.86%, 03/15/2030 (E)

     412,000        436,356  
     

 

 

 
        1,432,892  
     

 

 

 
Health Care Providers & Services - 0.6%  

Centene Corp.

     

3.00%, 10/15/2030

     875,000        748,125  

3.38%, 02/15/2030

     510,000        448,351  

Cigna Corp.

     

2.40%, 03/15/2030

     862,000        742,206  

CVS Health Corp.

     

2.70%, 08/21/2040

     858,000        616,766  

Elevance Health, Inc.

     

2.25%, 05/15/2030

     721,000        613,698  

5.13%, 02/15/2053

     496,000        494,947  

HCA, Inc.

     

4.13%, 06/15/2029

     520,000        493,200  

5.25%, 04/15/2025

     230,000        230,134  

5.50%, 06/15/2047

     527,000        498,492  

Laboratory Corp. of America Holdings

     

2.95%, 12/01/2029

     532,000        475,514  
 

 

Transamerica Funds

    Page    6         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Health Care Providers & Services (continued)  

Molina Healthcare, Inc.

     

4.38%, 06/15/2028 (E)

     $   362,000        $   334,325  

UnitedHealth Group, Inc.

     

6.05%, 02/15/2063

     747,000        867,893  
     

 

 

 
        6,563,651  
     

 

 

 
Hotels, Restaurants & Leisure - 0.2%  

Expedia Group, Inc.

     

2.95%, 03/15/2031

     57,000        47,826  

3.80%, 02/15/2028

     685,000        646,329  

Hyatt Hotels Corp.

     

1.80%, 10/01/2024

     417,000        395,202  

Warnermedia Holdings, Inc.

     

5.05%, 03/15/2042 (E)

     1,176,000        999,446  
     

 

 

 
        2,088,803  
     

 

 

 
Industrial Conglomerates - 0.1%  

General Electric Co.

     

4.13%, 10/09/2042

     494,000        420,336  

4.50%, 03/11/2044

     826,000        758,438  
     

 

 

 
        1,178,774  
     

 

 

 
Insurance - 0.5%  

Aon Corp. / Aon Global Holdings PLC

     

5.00%, 09/12/2032

     1,133,000        1,154,369  

Global Atlantic Finance Co.

     

3.13%, 06/15/2031 (E)

     1,549,000        1,191,353  

Muenchener Rueckversicherungs-Gesellschaft AG

     

Fixed until 11/23/2031,
5.88% (D), 05/23/2042 (E)

     600,000        612,750  

Ohio National Financial Services, Inc.

     

5.80%, 01/24/2030 (E)

     1,642,000        1,559,160  

6.63%, 05/01/2031 (E)

     456,000        443,885  

Prudential Financial, Inc.

     

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

     977,000        841,168  
     

 

 

 
        5,802,685  
     

 

 

 
Interactive Media & Services - 0.2%  

Baidu, Inc.

     

4.38%, 05/14/2024

     1,990,000        1,967,837  

Tencent Holdings Ltd.

     

3.28%, 04/11/2024 (E)

     742,000        730,599  
     

 

 

 
        2,698,436  
     

 

 

 
IT Services - 0.0% (C)  

Rackspace Technology Global, Inc.

     

3.50%, 02/15/2028 (E)

     763,000        462,302  
     

 

 

 
Machinery - 0.1%  

CNH Industrial Capital LLC

     

5.45%, 10/14/2025

     1,009,000        1,024,973  
     

 

 

 
Media - 0.2%  

Charter Communications Operating LLC / Charter Communications Operating Capital

     

4.80%, 03/01/2050

     562,000        441,351  

Clear Channel Outdoor Holdings, Inc.

     

5.13%, 08/15/2027 (E)

     827,000        755,092  

Comcast Corp.

     

2.94%, 11/01/2056

     372,000        251,899  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Media (continued)  

NBCUniversal Media LLC

     

4.45%, 01/15/2043

     $   456,000        $   425,179  

Paramount Global

     

4.20%, 05/19/2032

     588,000        505,450  
     

 

 

 
        2,378,971  
     

 

 

 
Metals & Mining - 0.4%  

Anglo American Capital PLC

     

4.50%, 03/15/2028 (E)

     1,293,000        1,260,272  

ArcelorMittal SA

     

6.55%, 11/29/2027

     1,054,000        1,099,312  

Freeport-McMoRan, Inc.

     

3.88%, 03/15/2023

     1,088,000        1,084,301  

4.55%, 11/14/2024

     481,000        475,306  

Glencore Funding LLC

     

2.63%, 09/23/2031 (E)

     837,000        696,675  
     

 

 

 
        4,615,866  
     

 

 

 
Multi-Utilities - 0.1%  

Black Hills Corp.

     

4.25%, 11/30/2023

     587,000        583,321  

CMS Energy Corp.

     

3.88%, 03/01/2024

     65,000        63,950  

4.88%, 03/01/2044

     141,000        133,913  
     

 

 

 
        781,184  
     

 

 

 
Oil, Gas & Consumable Fuels - 1.1%  

Boardwalk Pipelines LP

     

3.40%, 02/15/2031

     390,000        347,465  

Chevron USA, Inc.

     

3.25%, 10/15/2029

     654,000        615,759  

Energy Transfer LP

     

4.90%, 02/01/2024

     356,000        354,596  

5.15%, 02/01/2043

     559,000        498,731  

5.55%, 02/15/2028

     445,000        452,222  

5.95%, 10/01/2043

     499,000        492,444  

7.60%, 02/01/2024

     397,000        403,967  

Enterprise Products Operating LLC

     

4.25%, 02/15/2048

     1,656,000        1,421,016  

Kinder Morgan Energy Partners LP

     

4.15%, 02/01/2024

     772,000        765,062  

Occidental Petroleum Corp.

     

5.55%, 03/15/2026

     1,184,000        1,195,840  

ONEOK, Inc.

     

6.10%, 11/15/2032

     1,043,000        1,094,091  

Petroleos Mexicanos

     

6.50%, 01/23/2029

     385,000        344,893  

6.84%, 01/23/2030

     892,000        773,867  

6.88%, 08/04/2026

     340,000        332,549  

7.69%, 01/23/2050

     95,000        70,834  

Pioneer Natural Resources Co.

     

2.15%, 01/15/2031

     871,000        718,973  

Plains All American Pipeline LP / PAA Finance Corp.

     

3.55%, 12/15/2029

     637,000        570,366  

Sabine Pass Liquefaction LLC

     

4.20%, 03/15/2028

     573,000        552,691  

Shell International Finance BV

     

2.50%, 09/12/2026

     714,000        671,661  

3.75%, 09/12/2046

     351,000        298,010  

Williams Cos., Inc.

     

5.40%, 03/04/2044

     97,000        94,398  
     

 

 

 
        12,069,435  
     

 

 

 
 

 

Transamerica Funds

    Page    7         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Personal Products - 0.0% (C)  

GSK Consumer Healthcare Capital US LLC

     

3.38%, 03/24/2027

     $   448,000        $   423,389  
     

 

 

 
Pharmaceuticals - 0.2%  

Astrazeneca Finance LLC

     

1.20%, 05/28/2026

     388,000        350,020  

AstraZeneca PLC

     

4.38%, 08/17/2048

     626,000        597,071  

Bayer US Finance II LLC

     

4.38%, 12/15/2028 (E)

     716,000        694,009  

Royalty Pharma PLC

     

2.20%, 09/02/2030

     683,000        555,349  

Viatris, Inc.

     

2.30%, 06/22/2027

     425,000        374,230  
     

 

 

 
        2,570,679  
     

 

 

 
Professional Services - 0.2%  

Equifax, Inc.

     

2.60%, 12/01/2024

     879,000        842,650  

5.10%, 12/15/2027

     840,000        851,321  
     

 

 

 
        1,693,971  
     

 

 

 
Road & Rail - 0.3%  

Avolon Holdings Funding Ltd.

     

2.88%, 02/15/2025 (E)

     969,000        908,444  

5.50%, 01/15/2026 (E)

     1,240,000        1,217,571  

Norfolk Southern Corp.

     

4.55%, 06/01/2053

     1,258,000        1,166,259  
     

 

 

 
        3,292,274  
     

 

 

 
Semiconductors & Semiconductor Equipment - 0.6%  

Advanced Micro Devices, Inc.

     

3.92%, 06/01/2032

     1,238,000        1,180,452  

Broadcom, Inc.

     

1.95%, 02/15/2028 (E)

     464,000        402,058  

3.50%, 02/15/2041 (E)

     610,000        464,670  

KLA Corp.

     

3.30%, 03/01/2050

     730,000        562,567  

Microchip Technology, Inc.

     

0.98%, 09/01/2024

     684,000        640,258  

NXP BV / NXP Funding LLC / NXP USA, Inc.

     

3.25%, 11/30/2051

     401,000        271,968  

3.40%, 05/01/2030

     656,000        586,225  

QUALCOMM, Inc.

     

3.25%, 05/20/2027 - 05/20/2050

     1,259,000        1,122,458  

Skyworks Solutions, Inc.

     

1.80%, 06/01/2026

     379,000        338,387  

TSMC Global Ltd.

     

1.38%, 09/28/2030 (E)

     1,611,000        1,288,846  
     

 

 

 
        6,857,889  
     

 

 

 
Software - 0.4%  

Crowdstrike Holdings, Inc.

     

3.00%, 02/15/2029

     140,000        120,151  

Infor, Inc.

     

1.75%, 07/15/2025 (E)

     945,000        859,822  

Oracle Corp.

     

3.65%, 03/25/2041

     601,000        473,929  

6.90%, 11/09/2052

     951,000        1,092,950  

Take-Two Interactive Software, Inc.

     

3.55%, 04/14/2025

     1,217,000        1,178,289  

Workday, Inc.

     

3.50%, 04/01/2027

     944,000        902,080  
     

 

 

 
        4,627,221  
     

 

 

 
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Specialty Retail - 0.1%  

Lowe’s Cos., Inc.

     

3.75%, 04/01/2032

     $   836,000        $   773,318  
     

 

 

 
Technology Hardware, Storage & Peripherals - 0.1%  

Apple, Inc.

     

2.65%, 05/11/2050

     637,000        448,598  

Western Digital Corp.

     

2.85%, 02/01/2029

     259,000        211,106  
     

 

 

 
        659,704  
     

 

 

 
Tobacco - 0.2%  

BAT Capital Corp.

     

2.26%, 03/25/2028

     971,000        833,377  

Philip Morris International, Inc.

     

5.63%, 11/17/2029

     807,000        840,995  
     

 

 

 
        1,674,372  
     

 

 

 
Wireless Telecommunication Services - 0.2%  

America Movil SAB de CV

     

4.38%, 07/16/2042

     300,000        272,682  

Sprint LLC

     

7.88%, 09/15/2023

     640,000        649,547  

T-Mobile USA, Inc.

     

3.50%, 04/15/2031

     830,000        742,701  

3.88%, 04/15/2030

     684,000        638,813  
     

 

 

 
        2,303,743  
     

 

 

 

Total Corporate Debt Securities
(Cost $167,381,178)

 

     152,845,520  
  

 

 

 
FOREIGN GOVERNMENT OBLIGATIONS - 0.4%  
Brazil - 0.1%  

Brazil Government International Bonds

     

4.25%, 01/07/2025

     330,000        325,613  
     

 

 

 
Chile - 0.0% (C)  

Chile Government International Bonds

     

3.50%, 01/25/2050 (A)

     400,000        300,686  
     

 

 

 
Colombia - 0.1%  

Colombia Government International Bonds

     

4.00%, 02/26/2024 (A)

     235,000        231,379  

4.50%, 01/28/2026

     850,000        811,363  
     

 

 

 
        1,042,742  
     

 

 

 
Indonesia - 0.1%  

Indonesia Government International Bonds

     

4.75%, 01/08/2026 (E)

     1,035,000        1,041,224  

5.38%, 10/17/2023 (E)

     115,000        115,207  
     

 

 

 
        1,156,431  
     

 

 

 
Mexico - 0.1%  

Mexico Government International Bonds

     

3.75%, 01/11/2028

     1,126,000        1,077,928  
     

 

 

 
Panama - 0.0% (C)  

Panama Government International Bonds

     

3.88%, 03/17/2028

     315,000        300,374  
     

 

 

 
Peru - 0.0% (C)  

Peru Government International Bonds

     

7.35%, 07/21/2025

     125,000        131,537  
     

 

 

 
 

 

Transamerica Funds

    Page    8         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
FOREIGN GOVERNMENT OBLIGATIONS (continued)  
Poland - 0.0% (C)  

Republic of Poland Government International Bonds

     

3.00%, 03/17/2023

     $   275,000        $   274,172  
     

 

 

 
Qatar - 0.0% (C)  

Qatar Government International Bonds

     

3.88%, 04/23/2023 (E)

     200,000        199,290  
     

 

 

 

Total Foreign Government Obligations
(Cost $5,126,056)

 

     4,808,773  
  

 

 

 
MORTGAGE-BACKED SECURITIES - 2.3%  

BB-UBS Trust

     

Series 2012-TFT, Class A,

     

2.89%, 06/05/2030 (E)

     441,737        431,947  

BB-UBS Trust, Interest Only STRIPS

     

Series 2012-SHOW, Class XA,

     

0.60% (D), 11/05/2036 (E)

     3,045,000        29,122  

CIM Trust

     

Series 2021-R6, Class A1,

     

1.43% (D), 07/25/2061 (E)

     1,808,998        1,615,282  

Citigroup Commercial Mortgage Trust

     

Series 2014-GC19, Class A3,

     

3.75%, 03/11/2047

     68,151        67,150  

Series 2014-GC19, Class A4,

     

4.02%, 03/11/2047

     220,000        216,267  

Series 2015-GC27, Class B,

     

3.77%, 02/10/2048

     1,250,000        1,153,665  

Citigroup Mortgage Loan Trust, Inc.

     

Series 2018-RP1, Class A1,

     

3.00% (D), 09/25/2064 (E)

     193,514        184,564  

COMM Mortgage Trust

     

Series 2013-CR11, Class AM,

     

4.72% (D), 08/10/2050

     1,310,000        1,292,434  

Series 2014-UBS2, Class A5,

     

3.96%, 03/10/2047

     2,415,000        2,372,932  

Series 2015-3BP, Class A,

     

3.18%, 02/10/2035 (E)

     3,050,000        2,857,439  

CSMC Trust

     

Series 2021-RPL2, Class A1A,

     

1.11% (D), 01/25/2060 (E)

     1,514,714        1,267,632  

Series 2021-RPL6, Class A1,

     

2.00% (D), 10/25/2060 (E)

     1,231,469        1,098,504  

Fontainebleau Miami Beach Trust

     

Series 2019-FBLU, Class B,

     

3.45%, 12/10/2036 (E)

     1,250,000        1,178,276  

Houston Galleria Mall Trust

     

Series 2015-HGLR, Class A1A2,

     

3.09%, 03/05/2037 (E)

     700,000        651,812  

JPMorgan Chase Commercial Mortgage Securities Trust

     

Series 2013-C13, Class B,

     

4.12% (D), 01/15/2046

     950,000        936,238  

MetLife Securitization Trust

     

Series 2019-1A, Class A1A,

     

3.75% (D), 04/25/2058 (E)

     69,842        67,992  

Nationstar Mortgage Loan Trust

     

Series 2013-A, Class A,

     

3.75% (D), 12/25/2052 (E)

     84,067        77,910  

New Residential Mortgage Loan Trust

     

Series 2014-1A, Class A,

     

3.75% (D), 01/25/2054 (E)

     42,310        40,042  

Series 2014-2A, Class A3,

     

3.16% (D), 05/25/2054 (E)

     102,816        94,786  

Series 2014-3A, Class AFX3,

     

3.75% (D), 11/25/2054 (E)

     81,552        75,926  
     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

New Residential Mortgage Loan Trust (continued)

     

Series 2015-2A, Class A1,

     

3.75% (D), 08/25/2055 (E)

     $   179,803        $   168,714  

Series 2016-2A, Class A1,

     

3.75% (D), 11/26/2035 (E)

     120,466        112,432  

Series 2016-3A, Class A1B,

     

3.25% (D), 09/25/2056 (E)

     127,755        117,998  

Series 2016-4A, Class A1,

     

3.75% (D), 11/25/2056 (E)

     162,645        150,511  

Series 2017-1A, Class A1,

     

4.00% (D), 02/25/2057 (E)

     369,063        350,251  

Series 2017-2A, Class A3,

     

4.00% (D), 03/25/2057 (E)

     823,599        778,607  

Series 2017-3A, Class A1,

     

4.00% (D), 04/25/2057 (E)

     517,196        492,727  

Series 2017-4A, Class A1,

     

4.00% (D), 05/25/2057 (E)

     378,812        355,273  

Series 2018-1A, Class A1A,

     

4.00% (D), 12/25/2057 (E)

     189,524        180,910  

Series 2018-RPL1, Class A1,

     

3.50% (D), 12/25/2057 (E)

     268,497        256,338  

Series 2019-4A, Class A1B,

     

3.50% (D), 12/25/2058 (E)

     967,533        900,764  

Series 2019-5A, Class A1B,

     

3.50% (D), 08/25/2059 (E)

     878,870        826,077  

One Market Plaza Trust

     

Series 2017-1MKT, Class A,

     

3.61%, 02/10/2032 (E)

     1,373,000        1,290,297  

Towd Point Mortgage Trust

     

Series 2021-1, Class A1,

     

2.25% (D), 11/25/2061 (E)

     2,146,476        1,950,131  

Series 2023-1, Class A1,

     

3.75%, 01/25/2063 (E)

     1,475,000        1,406,117  

UBS-BAMLL Trust

     

Series 2012-WRM, Class A,

     

3.66%, 06/10/2030 (E)

     17,746        17,518  
     

 

 

 

Total Mortgage-Backed Securities
(Cost $27,464,494)

 

     25,064,585  
  

 

 

 
U.S. GOVERNMENT AGENCY OBLIGATIONS - 9.4%  

Federal Home Loan Mortgage Corp.

     

5.00%, 08/01/2035

     105,068        107,952  

5.50%, 06/01/2041

     44,918        47,181  

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates

     

1.38%, 06/25/2030

     2,547,000        2,114,503  

2.81%, 01/25/2025

     1,758,546        1,701,417  

2.89%, 06/25/2027

     316,000        310,587  

3.01%, 07/25/2025

     2,408,000        2,330,406  

3.06% (D), 08/25/2024

     1,771,331        1,728,344  

3.49%, 01/25/2024

     1,298,000        1,280,415  

3.53% (D), 07/25/2023

     993,188        985,174  

Federal National Mortgage Association

     

12-Month LIBOR + 1.52%,
2.86% (D), 02/01/2043

     16,382        16,109  

3.33% (D), 10/25/2023

     65,024        63,874  

3.50%, 07/01/2028 - 11/01/2028

     115,431        113,617  

4.00%, 04/01/2026 - 06/01/2042

     34,058        33,623  

4.50%, 02/01/2025 - 06/01/2026

     28,025        28,301  

5.00%, 04/01/2039 - 11/01/2039

     549,897        559,045  

5.50%, 10/01/2036 - 12/01/2041

     404,245        423,763  

6.00%, 08/01/2036 - 06/01/2041

     565,623        596,252  

6.50%, 05/01/2040

     50,341        53,374  
 

 

Transamerica Funds

    Page    9         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)  

Government National Mortgage Association, Interest Only STRIPS

     

Series 2012-120, Class IO,

     

0.64% (D), 02/16/2053

     $   227,295        $   3,642  

Tennessee Valley Authority

     

5.88%, 04/01/2036

     774,000        892,704  

Uniform Mortgage-Backed Security

     

2.00%, TBA (G)

     14,783,000        12,881,025  

2.50%, TBA (G)

     26,320,000        23,239,371  

3.00%, TBA (G)

     19,095,000        17,441,287  

3.50%, TBA (G)

     19,429,000        18,299,233  

4.00%, TBA (G)

     12,537,000        12,090,859  

4.50%, TBA (G)

     6,466,000        6,379,371  
     

 

 

 

Total U.S. Government Agency Obligations
(Cost $104,583,819)

 

     103,721,429  
  

 

 

 
U.S. GOVERNMENT OBLIGATIONS - 9.9%  
U.S. Treasury - 9.2%  

U.S. Treasury Bonds

     

1.25%, 05/15/2050

     2,253,000        1,311,932  

1.88%, 02/15/2051 - 11/15/2051

     6,386,000        4,355,116  

2.00%, 02/15/2050

     1,799,000        1,274,339  

2.25%, 08/15/2046 - 02/15/2052

     5,391,000        4,043,343  

2.38%, 02/15/2042 - 05/15/2051

     4,697,000        3,742,992  

2.50%, 02/15/2045 - 05/15/2046

     7,240,000        5,792,075  

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

     3,376,900        2,835,224  

2.88%, 08/15/2045 - 05/15/2049

     2,261,600        1,936,473  

3.00%, 05/15/2042 - 08/15/2052

     3,912,300        3,431,525  

3.13%, 02/15/2042 - 05/15/2048

     6,049,600        5,506,935  

3.63%, 02/15/2044

     1,985,000        1,928,707  

4.00%, 11/15/2052

     1,001,000        1,062,155  

5.25%, 02/15/2029

     1,098,000        1,190,772  

U.S. Treasury Notes

     

0.13%, 05/31/2023 (A)

     440,000        433,469  

0.25%, 08/31/2025 (A)

     1,084,000        985,085  

0.63%, 05/15/2030 - 08/15/2030

     8,926,000        7,266,842  

0.88%, 06/30/2026

     848,200        768,714  

1.13%, 02/15/2031

     4,704,000        3,950,441  

1.38%, 11/15/2031

     3,962,000        3,331,330  

1.50%, 08/15/2026 - 02/15/2030

     4,601,100        4,116,276  

1.63%, 02/15/2026 - 05/15/2031

     14,376,600        12,775,452  

1.75%, 05/15/2023 (A)

     500,000        495,859  

1.88%, 02/15/2032

     2,441,800        2,136,766  

2.25%, 11/15/2025 (A)

     856,100        818,010  

2.25%, 11/15/2027

     2,238,500        2,099,818  

2.50%, 08/15/2023 - 05/31/2024

     8,067,000        7,951,850  

2.63%, 02/15/2029

     653,500        617,711  

2.75%, 05/15/2025 - 08/15/2032

     4,477,000        4,216,605  

2.88%, 05/15/2028 - 05/15/2032

     3,080,600        2,943,600  

2.88%, 08/15/2028 (A)

     1,510,400        1,451,282  

3.13%, 11/15/2028

     1,189,500        1,157,160  

3.88%, 11/30/2027

     1,051,400        1,061,750  

4.13%, 09/30/2027 - 11/15/2032

     4,443,200        4,644,458  
     

 

 

 
        101,634,066  
     

 

 

 
U.S. Treasury Inflation-Protected Securities - 0.7%  

U.S. Treasury Inflation-Protected Indexed Bonds

     

0.25%, 02/15/2050

     1,842,410        1,326,517  

1.75%, 01/15/2028

     1,065,848        1,082,272  
     Principal      Value  
U.S. GOVERNMENT OBLIGATIONS (continued)  
U.S. Treasury Inflation-Protected Securities (continued)  

U.S. Treasury Inflation-Protected Indexed Bonds (continued)

 

2.50%, 01/15/2029

     $   3,627,000        $   3,852,448  

U.S. Treasury Inflation-Protected Indexed Notes

     

0.13%, 07/15/2030

     2,450,132        2,248,140  
     

 

 

 
        8,509,377  
     

 

 

 

Total U.S. Government Obligations
(Cost $123,219,835)

 

     110,143,443  
  

 

 

 
COMMERCIAL PAPER - 7.5%  
Banks - 2.8%  

Australia & New Zealand Banking Group Ltd.

     

5.16% (H), 07/10/2023

     3,250,000        3,182,530  

Bedford Row Funding Corp.

     

4.65% (H), 02/07/2023

     4,000,000        3,996,531  

BofA Securities, Inc.

     

5.21% (H), 07/13/2023

     4,510,000        4,409,410  

Cooperatieve Rabobank UA

     

5.21% (H), 07/05/2023

     1,000,000        979,342  

DBS Bank Ltd.

     

5.08% (H), 07/27/2023

     4,800,000        4,682,897  

Korea Development Bank

     

5.35% (H), 06/14/2023

     3,035,000        2,980,865  

Lloyds Bank PLC

     

5.09% (H), 07/18/2023

     4,200,000        4,104,371  

Mackinac Funding Co. LLC

     

4.81% (H), 03/01/2023

     4,500,000        4,483,343  

Svenska Handelsbanken AB

     

5.06% (H), 07/24/2023

     3,000,000        2,929,849  
     

 

 

 
        31,749,138  
     

 

 

 
Diversified Financial Services - 4.0%  

Atlantic Asset Securitization LLC

     

4.74% (H), 02/15/2023

     2,500,000        2,495,311  

Chariot Funding LLC

     

5.15% (H), 07/06/2023 - 07/13/2023

     4,675,000        4,571,269  

Collateralized Commercial Paper V Co. LLC

     

4.72% (H), 02/01/2023

     4,750,000        4,749,432  

Glencove Funding LLC

     

4.77% (H), 02/17/2023

     4,500,000        4,490,418  

Gotham Funding Corp.

     

4.83% (H), 02/14/2023

     3,000,000        2,994,758  

Lexington Parker Capital Co. LLC

     

4.77% (H), 03/03/2023

     4,500,000        4,482,322  

Liberty Street Funding LLC

     

4.83% (H), 02/07/2023

     2,100,000        2,098,175  

Mont Blanc Capital Corp.

     

4.61% (H), 02/07/2023

     3,600,000        3,596,871  

Sheffield Receivables Co. LLC

     

4.83% (H), 03/06/2023

     4,750,000        4,729,270  

Thunder Bay Funding LLC

     

5.03% (H), 05/12/2023 - 05/18/2023

     4,844,000        4,778,488  

Victory Receivables Corp.

     

4.83% (H), 02/09/2023

     5,000,000        4,994,403  
     

 

 

 
        43,980,717  
     

 

 

 
Food Products - 0.2%  

Britannia Funding Co. LLC

     

4.79% (H), 02/07/2023

     2,510,000        2,507,814  
     

 

 

 
Health Care Providers & Services - 0.3%  

Columbia Funding Co. LLC

     

4.72% (H), 03/01/2023

     3,310,000        3,297,852  
     

 

 

 
 

 

Transamerica Funds

    Page    10         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
COMMERCIAL PAPER (continued)  
Software - 0.2%  

Manhattan Asset Funding Co. LLC

     

5.20% (H), 07/10/2023

     $   2,100,000        $   2,053,921  
     

 

 

 

Total Commercial Paper
(Cost $83,585,374)

 

     83,589,442  
  

 

 

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

U.S. Treasury Bills

     

4.28% (H), 03/09/2023

     4,108,000        4,089,662  

4.66% (H), 06/08/2023

     1,761,000        1,732,639  
     

 

 

 

Total Short-Term U.S. Government Obligations
(Cost $5,823,916)

 

     5,822,301  
  

 

 

 
     Shares      Value  
OTHER INVESTMENT COMPANY - 0.1%  
Securities Lending Collateral - 0.1%  

State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 4.30% (H)

     1,206,406        1,206,406  
     

 

 

 

Total Other Investment Company
(Cost $1,206,406)

 

     1,206,406  
  

 

 

 
     Principal      Value  
REPURCHASE AGREEMENT - 1.2%  

Fixed Income Clearing Corp., 1.80% (H), dated 01/31/2023, to be repurchased at $13,695,265 on 02/01/2023. Collateralized by U.S. Government Obligations, 0.13% - 1.75%, due 07/15/2024 - 07/31/2024, and with a total value of $13,968,232.

     $  13,694,276        $   13,694,276  
     

 

 

 

Total Repurchase Agreement
(Cost $13,694,276)

 

     13,694,276  
  

 

 

 

Total Investments
(Cost $953,553,725)

 

     1,195,635,445  

Net Other Assets (Liabilities) - (7.9)%

        (87,832,376
     

 

 

 

Net Assets - 100.0%

        $  1,107,803,069  
     

 

 

 
 

 

FUTURES CONTRACTS:

 

Long Futures Contracts

 

Description

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

S&P 500® E-Mini Index

       39        03/17/2023      $     7,839,346      $     7,975,500      $     136,154      $     —  

INVESTMENT VALUATION:

 

Valuation Inputs (I)

 

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

ASSETS

           

Investments

 

Common Stocks

   $     669,880,076      $ —        $ —        $ 669,880,076  

Preferred Stocks

     882,711        —          —          882,711  

Asset-Backed Securities

     —          23,976,483        —          23,976,483  

Corporate Debt Securities

     —          152,845,520        —          152,845,520  

Foreign Government Obligations

     —          4,808,773        —          4,808,773  

Mortgage-Backed Securities

     —          25,064,585        —          25,064,585  

U.S. Government Agency Obligations

     —          103,721,429        —          103,721,429  

U.S. Government Obligations

     —          110,143,443        —          110,143,443  

Commercial Paper

     —          83,589,442        —          83,589,442  

Short-Term U.S. Government Obligations

     —          5,822,301        —          5,822,301  

Other Investment Company

     1,206,406        —          —          1,206,406  

Repurchase Agreement

     —          13,694,276        —          13,694,276  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

   $ 671,969,193      $     523,666,252      $     —        $     1,195,635,445  
  

 

 

    

 

 

    

 

 

    

 

 

 
Other Financial Instruments  

Futures Contracts (J)

   $ 136,154      $ —        $ —        $ 136,154  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Other Financial Instruments

   $ 136,154      $ —        $ —        $ 136,154  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

Transamerica Funds

    Page    11         

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(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 $16,483,747, collateralized by cash collateral of $1,206,406 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $15,624,109. 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)      Non-income producing securities.
(C)      Percentage rounds to less than 0.1% or (0.1)%.
(D)      Floating or variable rate securities. The rates disclosed are as of January 31, 2023. 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)      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 January 31, 2023, the total value of 144A securities is $84,468,784, representing 7.6% of the Fund’s net assets.
(F)      Perpetual maturity. The date displayed is the next call date.
(G)      When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2023. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)      Rates disclosed reflect the yields at January 31, 2023.
(I)      There were no transfers in or out of Level 3 during the period ended January 31, 2023. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(J)      Derivative instruments are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

 

LIBOR

   London Interbank Offered Rate

STRIPS

   Separate Trading of Registered Interest and Principal of Securities

TBA

   To Be Announced

 

Transamerica Funds

    Page    12         

Transamerica Multi-Managed Balanced

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

INVESTMENT VALUATION

Transamerica Multi-Managed Balanced (the “Fund”) is a series of the Transamerica Funds.

Effective September 8, 2022, TAM has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the 1940 Act with responsibility for fair valuation subject to oversight by the Fund’s Board of Trustees. The net asset value of the Fund is computed as of the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

TAM 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 TAM’s own assumptions used in determining the fair value of the Fund’s 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 January 31, 2023, 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:

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.

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.

 

Transamerica Funds

    Page    13         

Transamerica Multi-Managed Balanced

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

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.

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.

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