NPORT-EX 2 NPORT_I5CW_27704422_0123.htm FOR VALIDATION PURPOSES ONLY - [447377.I5CW]

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES - 5.1%  

321 Henderson Receivables VI LLC

 

Series 2010-1A, Class A,

      

5.56%, 07/15/2059 (A)

      $  3,372,379        $  3,290,566  

Accelerated LLC

 

Series 2021-1H, Class A,

      

1.35%, 10/20/2040 (A)

      802,141        731,642  

Bavarian Sky UK 5 PLC

 

Series 2014-1A, Class A1A2,

      

3-Month LIBOR + 1.20%,
6.01% (B), 10/20/2034 (A)

      7,305,000        7,096,618  

BXG Receivables Note Trust

 

Series 2015-A, Class A,

      

2.88%, 05/02/2030 (A)

      227,449        218,619  

CIFC Funding Ltd.

 

Series 2013-2A, Class A1L2,

      

3-Month LIBOR + 1.00%,
5.79% (B), 10/18/2030 (A)

      6,155,431        6,110,041  

Series 2017-3A, Class A1,

      

3-Month LIBOR + 1.22%,
6.03% (B), 07/20/2030 (A)

      10,247,922        10,192,060  

Diameter Capital CLO 1 Ltd.

 

Series 2021-1A, Class A1A,

      

3-Month LIBOR + 1.24%,
6.03% (B), 07/15/2036 (A)

      4,000,000        3,938,224  

GM Financial Consumer Automobile Receivables Trust

 

Series 2023-1, Class A2A,

      

5.19%, 03/16/2026

      3,250,000        3,254,152  

GoodLeap Sustainable Home Solutions Trust

 

Series 2021-4GS, Class A,

      

1.93%, 07/20/2048 (A)

      9,323,646        7,119,406  

Series 2021-5CS, Class A,

      

2.31%, 10/20/2048 (A)

      3,630,769        2,952,771  

Series 2022-1GS, Class A,

      

2.70%, 01/20/2049 (A)

      4,805,040        3,981,817  

Hilton Grand Vacations Trust

 

Series 2017-AA, Class A,

      

2.66%, 12/26/2028 (A)

      1,567,465        1,545,829  

Honda Auto Receivables Owner Trust

 

Series 2022-2, Class A2,

      

3.81%, 03/18/2025

      4,188,000        4,149,932  

JG Wentworth XXI LLC

 

Series 2010-2A, Class A,

      

4.07%, 01/15/2048 (A)

      350,116        341,213  

JG Wentworth XXII LLC

 

Series 2010-3A, Class A,

      

3.82%, 12/15/2048 (A)

      493,740        482,079  

JGWPT XXVIII LLC

 

Series 2013-1A, Class A,

      

3.22%, 04/15/2067 (A)

      938,397        826,192  

Laurel Road Prime Student Loan Trust

 

Series 2018-B, Class A2FX,

      

3.54%, 05/26/2043 (A)

      255,159        250,488  

MVW LLC

 

Series 2022-1A, Class A,

      

4.15%, 11/21/2039 (A)

      7,231,053        6,988,994  

MVW Owner Trust

 

Series 2019-1A, Class A,

      

2.89%, 11/20/2036 (A)

      367,780        349,464  
     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

New Residential Advance Receivables Trust

 

Series 2020-T1, Class AT1,

      

1.43%, 08/15/2053 (A)

      $   11,450,000        $   11,100,638  

NRZ Advance Receivables Trust

 

Series 2020-T2, Class AT2,

      

1.48%, 09/15/2053 (A)

      7,643,553        7,398,754  

Octagon Investment Partners 33 Ltd.

 

Series 2017-1A, Class A1,

      

3-Month LIBOR + 1.19%,
6.00% (B), 01/20/2031 (A)

      3,600,000        3,574,656  

Orange Lake Timeshare Trust

 

Series 2018-A, Class A,

      

3.10%, 11/08/2030 (A)

      702,047        680,990  

Series 2018-A, Class B,

      

3.35%, 11/08/2030 (A)

      574,397        556,968  

Series 2019-A, Class A,

      

3.06%, 04/09/2038 (A)

      460,197        442,945  

Palmer Square CLO Ltd.

 

Series 2015-2A, Class A1R2,

      

3-Month LIBOR + 1.10%,
5.91% (B), 07/20/2030 (A)

      7,546,484        7,489,984  

RAAC Trust

 

Series 2007-RP4, Class A,

      

1-Month LIBOR + 0.35%,
4.86% (B), 11/25/2046 (A)

      406,415        364,862  

Sierra Timeshare Receivables Funding LLC

      

Series 2018-3A, Class A,

      

3.69%, 09/20/2035 (A)

      922,555        914,536  

Series 2019-1A, Class A,

      

3.20%, 01/20/2036 (A)

      871,719        844,365  

Series 2019-1A, Class B,

      

3.42%, 01/20/2036 (A)

      1,981,179        1,910,920  

Series 2021-1A, Class A,

      

0.99%, 11/20/2037 (A)

      2,496,294        2,325,619  

Towd Point Mortgage Trust

 

Series 2017-1, Class A1,

      

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

      412,235        406,088  

Series 2017-3, Class A1,

      

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

      658,462        641,088  

Series 2017-4, Class A1,

      

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

      1,282,806        1,223,431  

Series 2017-6, Class A1,

      

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

      1,927,878        1,841,497  

Series 2018-1, Class A1,

      

3.00% (B), 01/25/2058 (A)

      2,776,317        2,686,929  

Series 2018-4, Class A1,

      

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

      2,377,903        2,214,562  

Series 2019-1, Class A1,

      

3.73% (B), 03/25/2058 (A)

      6,908,057        6,649,450  

Series 2020-4, Class A1,

      

1.75%, 10/25/2060 (A)

      2,279,868        2,042,465  

Trafigura Securitisation Finance PLC

 

Series 2021-1A, Class A2,

      

1.08%, 01/15/2025 (A)

      4,500,000        4,081,234  
 

 

Transamerica Funds

     Page    1         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

Welk Resorts LLC

 

Series 2017-AA, Class A,

      

2.82%, 06/15/2033 (A)

      $   1,267,536        $   1,261,912  

Wellfleet CLO Ltd.

 

Series 2016-2A, Class A1R,

      

3-Month LIBOR + 1.14%,
5.95% (B), 10/20/2028 (A)

      4,430,493        4,393,782  
     

 

 

  

Total Asset-Backed Securities
(Cost $133,343,859)

 

      128,867,782  
  

 

 

  
CORPORATE DEBT SECURITIES - 33.2%  
Aerospace & Defense - 0.7%  

Boeing Co.

 

3.50%, 03/01/2039

      7,305,000        5,673,338  

5.15%, 05/01/2030

      5,153,000        5,182,356  

5.81%, 05/01/2050

      2,508,000        2,541,062  

Huntington Ingalls Industries, Inc.

 

2.04%, 08/16/2028

      6,384,000        5,389,993  
     

 

 

  
        18,786,749  
     

 

 

  
Air Freight & Logistics - 0.3%  

GXO Logistics, Inc.

 

2.65%, 07/15/2031

      9,977,000        7,818,145  
     

 

 

  
Airlines - 0.1%  

American Airlines Pass-Through Trust

 

3.20%, 12/15/2029

      161        143  

United Airlines Pass-Through Trust

 

3.75%, 03/03/2028

      3,926,041        3,659,962  
     

 

 

  
        3,660,105  
     

 

 

  
Auto Components - 0.2%  

Aptiv PLC / Aptiv Corp.

 

3.25%, 03/01/2032

      3,121,000        2,687,437  

BorgWarner, Inc.

 

3.38%, 03/15/2025 (C)

      3,645,000        3,519,681  
     

 

 

  
        6,207,118  
     

 

 

  
Automobiles - 0.2%  

General Motors Co.

      

6.25%, 10/02/2043

      1,445,000        1,433,135  

Stellantis Finance US, Inc.

      

6.38%, 09/12/2032 (A)

      3,512,000        3,656,036  
     

 

 

  
        5,089,171  
     

 

 

  
Banks - 4.0%  

Bank of America Corp.

      

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

      5,715,000        5,442,682  

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

      11,175,000        10,770,011  

Barclays PLC

      

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

      7,149,000        7,501,096  

Citigroup, Inc.

      

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

      12,004,000        11,225,149  

Commerzbank AG

      

8.13%, 09/19/2023 (A)

      7,251,000        7,317,485  

Intesa Sanpaolo SpA

      

5.02%, 06/26/2024 (A)

      2,745,000        2,677,222  

Fixed until 11/21/2032,
8.25% (B), 11/21/2033 (A)

      9,500,000        10,367,470  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Banks (continued)  

JPMorgan Chase & Co.

      

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

      $   7,011,000        $   6,293,416  

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

      2,474,000        2,374,574  

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

      11,009,000        11,326,253  

Lloyds Banking Group PLC

      

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

      5,002,000        5,700,660  

Truist Financial Corp.

      

5.12% (B), 01/26/2034

      7,666,000        7,742,896  

Wells Fargo & Co.

      

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

      9,666,000        9,630,141  

Fixed until 06/15/2024 (D),
5.90% (B)

      2,943,000        2,873,104  
     

 

 

  
        101,242,159  
     

 

 

  
Beverages - 0.4%  

Anheuser-Busch InBev Worldwide, Inc.

      

4.44%, 10/06/2048

      4,846,000        4,445,334  

Constellation Brands, Inc.

      

3.15%, 08/01/2029

      1,440,000        1,311,596  

3.70%, 12/06/2026

      1,889,000        1,822,420  

Diageo Capital PLC

      

5.50%, 01/24/2033

      2,774,000        2,995,295  
     

 

 

  
        10,574,645  
     

 

 

  
Biotechnology - 0.4%  

AbbVie, Inc.

      

3.20%, 05/14/2026

      2,346,000        2,249,589  

4.05%, 11/21/2039

      3,184,000        2,857,280  

Amgen, Inc.

      

2.00%, 01/15/2032

      2,411,000        1,947,401  

CSL Finance PLC

      

4.63%, 04/27/2042 (A)

      2,753,000        2,629,720  

Gilead Sciences, Inc.

      

4.15%, 03/01/2047

      1,594,000        1,413,347  
     

 

 

  
        11,097,337  
     

 

 

  
Building Products - 0.7%  

Carlisle Cos., Inc.

      

2.20%, 03/01/2032

      3,830,000        3,048,997  

3.75%, 12/01/2027

      3,740,000        3,581,485  

Carrier Global Corp.

      

2.72%, 02/15/2030

      2,352,000        2,049,977  

Owens Corning

      

7.00%, 12/01/2036

      8,147,000        9,252,508  
     

 

 

  
        17,932,967  
     

 

 

  
Capital Markets - 1.8%  

Credit Suisse Group AG

      

Fixed until 09/11/2024,
2.59% (B), 09/11/2025 (A)

      4,526,000        4,137,555  

Fixed until 08/12/2032,
6.54% (B), 08/12/2033 (A)

      8,211,000        7,850,311  

Deutsche Bank AG

      

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

      3,026,000        2,929,880  

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

      6,871,000        6,701,454  

Goldman Sachs Group, Inc.

      

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

      8,768,000        7,490,753  
 

 

Transamerica Funds

     Page    2         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

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

Morgan Stanley

      

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

      $   1,138,000        $   1,012,013  

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

      5,027,000        4,966,157  

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

      4,082,000        4,119,778  

Northern Trust Corp.

      

6.13%, 11/02/2032

      6,903,000        7,571,914  
     

 

 

  
        46,779,815  
     

 

 

  
Chemicals - 0.2%  

International Flavors & Fragrances, Inc.

      

2.30%, 11/01/2030 (A)

      4,965,000        4,107,820  
     

 

 

  
Commercial Services & Supplies - 0.6%  

ADT Security Corp.

      

4.13%, 08/01/2029 (A)

      5,015,000        4,459,739  

Ashtead Capital, Inc.

      

4.25%, 11/01/2029 (A)

      3,037,000        2,828,482  

5.55%, 05/30/2033 (A)

      3,822,000        3,828,210  

Triton Container International Ltd. / TAL International Container Corp.

      

3.25%, 03/15/2032

      6,048,000        4,925,249  
     

 

 

  
        16,041,680  
     

 

 

  
Construction & Engineering - 0.1%  

Quanta Services, Inc.

      

2.90%, 10/01/2030

      3,740,000        3,203,885  
     

 

 

  
Consumer Finance - 1.4%  

Ally Financial, Inc.

      

8.00%, 11/01/2031

      7,297,000        7,991,219  

BMW US Capital LLC

      

2.80%, 04/11/2026 (A)

      4,981,000        4,722,283  

Ford Motor Credit Co. LLC

      

3.38%, 11/13/2025

      6,702,000        6,281,785  

6.95%, 03/06/2026

      4,750,000        4,858,728  

General Motors Financial Co., Inc.

      

5.00%, 04/09/2027

      4,041,000        3,997,248  

Nissan Motor Acceptance Co. LLC

      

2.45%, 09/15/2028 (A)

      4,767,000        3,861,601  

Volkswagen Group of America Finance LLC

      

1.63%, 11/24/2027 (A)

      3,463,000        2,982,546  
     

 

 

  
        34,695,410  
     

 

 

  
Containers & Packaging - 0.1%  

Sonoco Products Co.

      

2.25%, 02/01/2027

      3,740,000        3,379,058  
     

 

 

  
Diversified Financial Services - 1.4%  

AerCap Ireland Capital DAC / AerCap Global Aviation Trust

      

3.85%, 10/29/2041

      6,388,000        4,962,319  

4.45%, 04/03/2026

      6,232,000        6,035,737  

4.50%, 09/15/2023

      4,363,000        4,338,976  

Aviation Capital Group LLC

      

1.95%, 01/30/2026 (A)

      3,332,000        2,962,388  

5.50%, 12/15/2024 (A)

      8,463,000        8,377,759  

Equitable Holdings, Inc.

      

5.59%, 01/11/2033

      7,468,000        7,626,169  
     

 

 

  
        34,303,348  
     

 

 

  
Diversified Telecommunication Services - 0.5%  

Sprint Capital Corp.

      

6.88%, 11/15/2028

      822,000        879,168  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Diversified Telecommunication Services (continued)  

Verizon Communications, Inc.

      

1.68%, 10/30/2030

      $   5,851,000        $   4,705,503  

2.99%, 10/30/2056

      9,757,000        6,449,569  
     

 

 

  
        12,034,240  
     

 

 

  
Electric Utilities - 1.4%  

Appalachian Power Co.

      

3.40%, 06/01/2025

      4,135,000        4,002,357  

Cleveland Electric Illuminating Co.

      

5.95%, 12/15/2036

      614,000        630,661  

DTE Electric Co.

      

4.30%, 07/01/2044

      7,295,000        6,662,076  

Duke Energy Corp.

      

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

      11,944,000        10,372,865  

Duke Energy Progress LLC

      

3.60%, 09/15/2047

      2,726,000        2,168,031  

Entergy Arkansas LLC

      

3.70%, 06/01/2024

      1,493,000        1,473,268  

Oncor Electric Delivery Co. LLC

      

5.30%, 06/01/2042

      707,000        744,298  

Pacific Gas & Electric Co.

      

2.50%, 02/01/2031

      4,892,000        3,937,713  

PacifiCorp

      

3.60%, 04/01/2024

      3,749,000        3,694,234  

5.75%, 04/01/2037

      535,000        572,986  

Public Service Electric & Gas Co.

      

3.00%, 05/15/2025

      1,955,000        1,885,273  
     

 

 

  
        36,143,762  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.5%  

Arrow Electronics, Inc.

      

2.95%, 02/15/2032

      5,137,000        4,249,751  

Keysight Technologies, Inc.

      

4.60%, 04/06/2027

      3,395,000        3,392,451  

Sensata Technologies, Inc.

      

4.38%, 02/15/2030 (A)

      4,143,000        3,751,072  
     

 

 

  
        11,393,274  
     

 

 

  
Energy Equipment & Services - 0.2%  

Schlumberger Holdings Corp.

      

3.90%, 05/17/2028 (A)

      5,457,000        5,199,091  

Schlumberger Investment SA

      

3.65%, 12/01/2023

      1,121,000        1,108,096  
     

 

 

  
        6,307,187  
     

 

 

  
Equity Real Estate Investment Trusts - 2.6%  

American Tower Trust #1

      

3.65%, 03/23/2028 (A)

      2,800,000        2,625,696  

Broadstone Net Lease LLC

      

2.60%, 09/15/2031

      6,211,000        4,728,788  

Corporate Office Properties LP

      

2.00%, 01/15/2029

      1,623,000        1,283,470  

2.25%, 03/15/2026

      1,209,000        1,092,879  

Invitation Homes Operating Partnership LP

      

4.15%, 04/15/2032

      2,844,000        2,601,767  

Office Properties Income Trust

      

3.45%, 10/15/2031 (C)

      2,512,000        1,759,016  

Physicians Realty LP

      

2.63%, 11/01/2031

      7,157,000        5,859,792  

Realty Income Corp.

      

5.63%, 10/13/2032

      2,319,000        2,452,163  

SBA Tower Trust

      

1.63%, 05/15/2051 (A)

      6,278,000        5,474,388  

1.88%, 07/15/2050 (A)

      1,100,000        987,548  

2.84%, 01/15/2050 (A)

      13,134,000        12,411,035  

6.60%, 01/15/2028 (A)

      3,650,000        3,796,451  
 

 

Transamerica Funds

     Page    3         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Equity Real Estate Investment Trusts (continued)  

Simon Property Group LP

      

2.20%, 02/01/2031 (C)

      $   3,744,000        $   3,079,959  

Ventas Realty LP

      

3.25%, 10/15/2026

      5,018,000        4,719,393  

VICI Properties LP

      

4.95%, 02/15/2030

      6,748,000        6,521,109  

Weyerhaeuser Co.

      

4.00%, 04/15/2030

      5,505,000        5,183,226  
     

 

 

  
        64,576,680  
     

 

 

  
Food & Staples Retailing - 0.4%  

7-Eleven, Inc.

      

1.80%, 02/10/2031 (A)

      5,842,000        4,647,356  

Sysco Corp.

      

3.30%, 07/15/2026

      5,932,000        5,699,240  
     

 

 

  
        10,346,596  
     

 

 

  
Food Products - 0.8%  

Bunge Ltd. Finance Corp.

      

2.75%, 05/14/2031 (C)

      6,218,000        5,311,785  

Cargill, Inc.

      

5.13%, 10/11/2032 (A)

      2,894,000        3,001,017  

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

      

3.00%, 02/02/2029 (A)

      2,483,000        2,131,283  

Pilgrim’s Pride Corp.

      

3.50%, 03/01/2032 (A)

      6,300,000        5,126,625  

Viterra Finance BV

      

4.90%, 04/21/2027 (A)

      5,002,000        4,801,280  
     

 

 

  
        20,371,990  
     

 

 

  
Health Care Equipment & Supplies - 0.3%  

Alcon Finance Corp.

      

2.75%, 09/23/2026 (A)

      3,484,000        3,234,092  

5.75%, 12/06/2052 (A)

      2,593,000        2,780,038  

GE HealthCare Technologies, Inc.

      

5.86%, 03/15/2030 (A)

      2,577,000        2,729,343  
     

 

 

  
        8,743,473  
     

 

 

  
Health Care Providers & Services - 1.5%  

Centene Corp.

      

3.38%, 02/15/2030

      7,847,000        6,898,455  

Cigna Corp.

      

2.40%, 03/15/2030

      4,530,000        3,900,454  

CVS Health Corp.

      

2.70%, 08/21/2040

      3,472,000        2,495,819  

Elevance Health, Inc.

      

2.25%, 05/15/2030

      4,034,000        3,433,642  

5.13%, 02/15/2053

      4,316,000        4,306,839  

HCA, Inc.

      

4.13%, 06/15/2029

      3,196,000        3,031,281  

5.25%, 04/15/2025

      1,795,000        1,796,048  

5.50%, 06/15/2047

      2,893,000        2,736,503  

Laboratory Corp. of America Holdings

      

2.95%, 12/01/2029

      2,929,000        2,618,010  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (A)

      1,520,000        1,403,796  

UnitedHealth Group, Inc.

      

6.05%, 02/15/2063

      4,135,000        4,804,200  
     

 

 

  
        37,425,047  
     

 

 

  
Hotels, Restaurants & Leisure - 0.4%  

Expedia Group, Inc.

      

2.95%, 03/15/2031

      402,000        337,299  

3.80%, 02/15/2028

      2,801,000        2,642,871  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Hotels, Restaurants & Leisure (continued)  

Hyatt Hotels Corp.

      

1.80%, 10/01/2024

      $   2,477,000        $   2,347,519  

Warnermedia Holdings, Inc.

      

5.05%, 03/15/2042 (A)

      6,515,000        5,536,900  
     

 

 

  
        10,864,589  
     

 

 

  
Industrial Conglomerates - 0.3%  

General Electric Co.

      

4.13%, 10/09/2042

      2,771,000        2,357,794  

4.50%, 03/11/2044

      4,688,000        4,304,551  
     

 

 

  
        6,662,345  
     

 

 

  
Insurance - 1.3%  

Aon Corp. / Aon Global Holdings PLC

      

5.00%, 09/12/2032

      6,254,000        6,371,955  

Global Atlantic Finance Co.

      

3.13%, 06/15/2031 (A)

      9,317,000        7,165,805  

Muenchener Rueckversicherungs-Gesellschaft AG

 

   

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

      3,400,000        3,472,250  

Ohio National Financial Services, Inc.

      

5.80%, 01/24/2030 (A)

      10,038,000        9,531,579  

6.63%, 05/01/2031 (A)

      1,348,000        1,312,186  

Prudential Financial, Inc.

      

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

      5,651,000        4,865,344  
     

 

 

  
        32,719,119  
     

 

 

  
Interactive Media & Services - 0.3%  

Baidu, Inc.

      

4.38%, 05/14/2024 (C)

      4,652,000        4,600,189  

Tencent Holdings Ltd.

      

3.28%, 04/11/2024 (A)

      2,683,000        2,641,775  
     

 

 

  
        7,241,964  
     

 

 

  
IT Services - 0.1%  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (A)

      2,902,000        1,758,322  
     

 

 

  
Machinery - 0.2%  

CNH Industrial Capital LLC

      

5.45%, 10/14/2025

      5,538,000        5,625,670  
     

 

 

  
Media - 0.5%  

Charter Communications Operating LLC / Charter Communications Operating Capital

      

4.80%, 03/01/2050

      3,602,000        2,828,730  

Clear Channel Outdoor Holdings, Inc.

      

5.13%, 08/15/2027 (A)

      2,020,000        1,844,361  

Comcast Corp.

      

2.94%, 11/01/2056

      1,620,000        1,096,980  

NBCUniversal Media LLC

      

4.45%, 01/15/2043

      3,353,000        3,126,368  

Paramount Global

      

4.20%, 05/19/2032

      4,116,000        3,538,149  
     

 

 

  
        12,434,588  
     

 

 

  
Metals & Mining - 0.8%  

Anglo American Capital PLC

      

4.50%, 03/15/2028 (A)

      3,182,000        3,101,457  

ArcelorMittal SA

      

6.55%, 11/29/2027

      5,937,000        6,192,236  
 

 

Transamerica Funds

     Page    4         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Metals & Mining (continued)  

Freeport-McMoRan, Inc.

      

3.88%, 03/15/2023

      $   7,230,000        $   7,205,418  

Glencore Funding LLC

      

2.63%, 09/23/2031 (A)

      4,976,000        4,141,763  
     

 

 

  
        20,640,874  
     

 

 

  
Multi-Utilities - 0.3%  

Black Hills Corp.

      

4.25%, 11/30/2023

      4,781,000        4,751,032  

CMS Energy Corp.

      

3.88%, 03/01/2024

      723,000        711,322  

4.88%, 03/01/2044

      974,000        925,043  
     

 

 

  
        6,387,397  
     

 

 

  
Oil, Gas & Consumable Fuels - 2.6%  

Boardwalk Pipelines LP

      

3.40%, 02/15/2031

      3,125,000        2,784,178  

Chevron USA, Inc.

      

3.25%, 10/15/2029

      4,089,000        3,849,904  

Energy Transfer LP

      

4.90%, 02/01/2024

      2,863,000        2,851,709  

5.15%, 03/15/2045

      1,668,000        1,499,899  

5.55%, 02/15/2028

      2,532,000        2,573,094  

5.95%, 10/01/2043

      1,293,000        1,276,013  

7.60%, 02/01/2024

      4,041,000        4,111,911  

Enterprise Products Operating LLC

      

4.25%, 02/15/2048

      8,341,000        7,157,426  

Kinder Morgan Energy Partners LP

      

4.15%, 02/01/2024

      3,178,000        3,149,441  

Occidental Petroleum Corp.

      

5.55%, 03/15/2026

      7,343,000        7,416,430  

ONEOK, Inc.

      

6.10%, 11/15/2032

      5,869,000        6,156,488  

Petroleos Mexicanos

      

6.84%, 01/23/2030

      3,109,000        2,697,256  

6.88%, 08/04/2026

      1,410,000        1,379,101  

7.69%, 01/23/2050

      641,000        477,943  

Pioneer Natural Resources Co.

      

2.15%, 01/15/2031

      6,139,000        5,067,483  

Plains All American Pipeline LP / PAA Finance Corp.

      

3.55%, 12/15/2029

      3,097,000        2,773,033  

Sabine Pass Liquefaction LLC

      

4.20%, 03/15/2028

      2,888,000        2,785,641  

Saudi Arabian Oil Co.

      

1.25%, 11/24/2023 (A)

      323,000        312,493  

Shell International Finance BV

      

2.50%, 09/12/2026

      3,121,000        2,935,929  

3.75%, 09/12/2046

      2,857,000        2,425,680  

Williams Cos., Inc.

      

5.40%, 03/04/2044

      1,095,000        1,065,629  
     

 

 

  
        64,746,681  
     

 

 

  
Personal Products - 0.1%  

GSK Consumer Healthcare Capital US LLC

      

3.38%, 03/24/2027

      2,762,000        2,610,269  
     

 

 

  
Pharmaceuticals - 0.6%  

Astrazeneca Finance LLC

      

1.20%, 05/28/2026

      2,588,000        2,334,671  

AstraZeneca PLC

      

4.38%, 08/17/2048

      4,122,000        3,931,515  

Bayer US Finance II LLC

      

4.38%, 12/15/2028 (A)

      4,174,000        4,045,798  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Pharmaceuticals (continued)  

Royalty Pharma PLC

      

2.20%, 09/02/2030

      $   4,157,000        $   3,380,068  

Viatris, Inc.

      

2.30%, 06/22/2027

      2,488,000        2,190,787  
     

 

 

  
        15,882,839  
     

 

 

  
Professional Services - 0.3%  

Equifax, Inc.

      

2.60%, 12/01/2024

      4,000,000        3,834,582  

5.10%, 12/15/2027

      4,636,000        4,698,482  
     

 

 

  
        8,533,064  
     

 

 

  
Road & Rail - 0.8%  

Avolon Holdings Funding Ltd.

      

2.88%, 02/15/2025 (A)

      8,743,000        8,196,620  

5.50%, 01/15/2026 (A)

      3,257,000        3,198,088  

Norfolk Southern Corp.

      

4.55%, 06/01/2053

      8,190,000        7,592,737  
     

 

 

  
        18,987,445  
     

 

 

  
Semiconductors & Semiconductor Equipment - 1.3%  

Advanced Micro Devices, Inc.

      

3.92%, 06/01/2032

      6,496,000        6,194,035  

Broadcom, Inc.

      

1.95%, 02/15/2028 (A)

      2,070,000        1,793,666  

3.50%, 02/15/2041 (A)

      3,314,000        2,524,452  

KLA Corp.

      

3.30%, 03/01/2050 (C)

      4,337,000        3,342,263  

Microchip Technology, Inc.

      

0.98%, 09/01/2024

      4,561,000        4,269,326  

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

      

3.25%, 11/30/2051

      1,240,000        840,999  

3.40%, 05/01/2030

      1,216,000        1,086,662  

QUALCOMM, Inc.

      

3.25%, 05/20/2027

      3,552,000        3,417,898  

3.25%, 05/20/2050 (C)

      3,819,000        2,976,811  

Skyworks Solutions, Inc.

      

1.80%, 06/01/2026

      2,526,000        2,255,318  

TSMC Global Ltd.

      

1.38%, 09/28/2030 (A)

      5,908,000        4,726,568  
     

 

 

  
        33,427,998  
     

 

 

  
Software - 1.1%  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029 (C)

      570,000        489,188  

Infor, Inc.

      

1.75%, 07/15/2025 (A)

      5,112,000        4,651,227  

Oracle Corp.

      

3.65%, 03/25/2041

      3,404,000        2,684,285  

6.90%, 11/09/2052

      5,825,000        6,694,460  

Take-Two Interactive Software, Inc.

      

3.55%, 04/14/2025

      6,520,000        6,312,607  

Workday, Inc.

      

3.50%, 04/01/2027

      6,126,000        5,853,962  
     

 

 

  
        26,685,729  
     

 

 

  
Specialty Retail - 0.2%  

Lowe’s Cos., Inc.

      

3.75%, 04/01/2032

      4,632,000        4,284,700  
     

 

 

  
 

 

Transamerica Funds

     Page    5         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Technology Hardware, Storage & Peripherals - 0.2%  

Apple, Inc.

 

2.65%, 05/11/2050

      $   3,716,000        $   2,616,939  

Western Digital Corp.

 

2.85%, 02/01/2029

      1,526,000        1,243,812  
     

 

 

  
        3,860,751  
     

 

 

  
Tobacco - 0.4%  

BAT Capital Corp.

 

2.26%, 03/25/2028

      5,667,000        4,863,799  

Philip Morris International, Inc.

 

5.63%, 11/17/2029

      4,540,000        4,731,247  
     

 

 

  
        9,595,046  
     

 

 

  
Wireless Telecommunication Services - 0.6%  

America Movil SAB de CV

 

4.38%, 07/16/2042

      2,100,000        1,908,774  

Sprint LLC

 

7.88%, 09/15/2023

      2,873,000        2,915,857  

T-Mobile USA, Inc.

 

3.50%, 04/15/2031

      4,213,000        3,769,878  

3.88%, 04/15/2030

      6,794,000        6,345,169  
     

 

 

  
        14,939,678  
     

 

 

  

Total Corporate Debt Securities
(Cost $870,524,984)

 

      840,150,729  
  

 

 

  
FOREIGN GOVERNMENT OBLIGATIONS - 0.5%  
Chile - 0.0% (E)  

Chile Government International Bonds

 

3.50%, 01/25/2050 (C)

      825,000        620,165  
     

 

 

  
Colombia - 0.2%  

Colombia Government International Bonds

 

4.50%, 01/28/2026

      3,650,000        3,484,087  
     

 

 

  
Indonesia - 0.1%  

Indonesia Government International Bonds

 

4.75%, 01/08/2026 (A)

      3,205,000        3,224,273  
     

 

 

  
Mexico - 0.1%  

Mexico Government International Bonds

 

3.75%, 01/11/2028

      2,481,000        2,375,079  
     

 

 

  
Panama - 0.0% (E)  

Panama Government International Bonds

 

3.88%, 03/17/2028

      735,000        700,871  
     

 

 

  
Peru - 0.0% (E)  

Peru Government International Bonds

 

7.35%, 07/21/2025

      390,000        410,396  
     

 

 

  
Poland - 0.0% (E)  

Republic of Poland Government International Bonds

 

3.00%, 03/17/2023

      500,000        498,495  
     

 

 

  
Qatar - 0.1%  

Qatar Government International Bonds

 

3.88%, 04/23/2023 (A)

      913,000        909,761  
     

 

 

  

Total Foreign Government Obligations
(Cost $12,888,671)

 

      12,223,127  
  

 

 

  
     Principal      Value  
MORTGAGE-BACKED SECURITIES - 6.5%  

Alternative Loan Trust

 

Series 2005-36, Class 2A1A,

      

1-Month LIBOR + 0.62%,
5.13% (B), 08/25/2035

      $   290,394        $   248,234  

Series 2005-50CB, Class 1A1,

      

5.50%, 11/25/2035

      442,773        365,520  

Series 2005-51, Class 3A3A,

      

1-Month LIBOR + 0.64%,
5.13% (B), 11/20/2035

      334,878        273,399  

Series 2007-22, Class 2A16,

      

6.50%, 09/25/2037

      4,664,828        1,978,923  

Series 2007-5CB, Class 1A31,

      

5.50%, 04/25/2037

      694,719        384,211  

BB-UBS Trust

 

Series 2012-TFT, Class A,

      

2.89%, 06/05/2030 (A)

      1,747,655        1,708,924  

Bear Stearns Alt-A Trust

 

Series 2004-11, Class 2A2,

      

3.92% (B), 11/25/2034

      25,952        23,875  

CHL Mortgage Pass-Through Trust

 

Series 2003-60, Class 1A1,

      

4.17% (B), 02/25/2034

      20,284        18,729  

Series 2005-3, Class 1A2,

      

1-Month LIBOR + 0.58%,
5.09% (B), 04/25/2035

      65,604        58,698  

CIM Trust

 

Series 2021-R6, Class A1,

      

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

      5,694,994        5,085,148  

Citigroup Commercial Mortgage Trust

 

Series 2014-GC19, Class A3,

      

3.75%, 03/11/2047

      1,280,763        1,261,961  

Series 2014-GC19, Class A4,

      

4.02%, 03/11/2047

      4,165,000        4,094,327  

Citigroup Mortgage Loan Trust, Inc.

 

Series 2014-A, Class A,

      

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

      232,034        217,944  

Series 2015-PS1, Class A1,

      

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

      185,952        174,947  

Series 2018-RP1, Class A1,

      

3.00% (B), 09/25/2064 (A)

      1,113,749        1,062,238  

COMM Mortgage Trust

 

Series 2013-CR11, Class AM,

      

4.72% (B), 08/10/2050

      565,000        557,424  

Series 2014-UBS2, Class A5,

      

3.96%, 03/10/2047

      12,640,000        12,419,819  

Series 2015-3BP, Class A,

      

3.18%, 02/10/2035 (A)

      17,005,000        15,931,393  

CSMC Trust

      

Series 2014-11R, Class 17A1,

      

1-Month LIBOR + 0.15%,
4.69% (B), 12/27/2036 (A)

      124,619        123,443  

Series 2021-RPL2, Class A1A,

      

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

      6,276,215        5,252,430  

Series 2021-RPL6, Class A1,

      

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

      4,129,043        3,683,220  

Fontainebleau Miami Beach Trust

 

Series 2019-FBLU, Class A,

      

3.14%, 12/10/2036 (A)

      3,800,000        3,587,236  

Series 2019-FBLU, Class B,

      

3.45%, 12/10/2036 (A)

      6,050,000        5,702,855  

Series 2019-FBLU, Class C,

      

3.75%, 12/10/2036 (A)

      4,570,000        4,301,523  

GMACM Mortgage Loan Trust

 

Series 2005-AR1, Class 3A,

      

0.00% (B), 03/18/2035

      3,560        3,153  
 

 

Transamerica Funds

     Page    6         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

HarborView Mortgage Loan Trust

      

Series 2004-4, Class 2A,

      

1-Month LIBOR + 0.56%,
5.03% (B), 06/19/2034

      $   112,507        $   99,081  

Impac CMB Trust

      

Series 2004-6, Class 1A1,

      

1-Month LIBOR + 0.80%,
5.31% (B), 10/25/2034

      5,379        5,157  

IndyMac INDX Mortgage Loan Trust

      

Series 2007-AR15, Class 2A1,

      

3.22% (B), 08/25/2037

      287,330        217,289  

JPMorgan Chase Commercial Mortgage Securities Trust

      

Series 2014-DSTY, Class B,

      

3.77%, 06/10/2027 (A)

      4,800,000        909,576  

JPMorgan Mortgage Trust

      

Series 2004-A1, Class 1A1,

      

2.98% (B), 02/25/2034

      12,013        10,807  

Series 2006-A2, Class 5A1,

      

4.18% (B), 11/25/2033

      7,293        6,971  

Series 2006-S3, Class 1A12,

      

6.50%, 08/25/2036

      152,496        63,554  

Manhattan West Mortgage Trust

      

Series 2020-1MW, Class A,

      

2.13%, 09/10/2039 (A)

      5,765,000        5,051,232  

Series 2020-1MW, Class B,

      

2.34% (B), 09/10/2039 (A)

      5,024,000        4,367,012  

MASTR Adjustable Rate Mortgages Trust

      

Series 2007-R5, Class A1,

      

3.67% (B), 11/25/2035 (A)

      192,455        115,254  

Merrill Lynch Mortgage Investors Trust

      

Series 2003-F, Class A1,

      

1-Month LIBOR + 0.64%,
5.15% (B), 10/25/2028

      4,567        4,258  

Series 2004-A1, Class 2A1,

      

3.43% (B), 02/25/2034

      45,065        41,393  

Series 2005-A4, Class 2A2,

      

3.22% (B), 07/25/2035

      41,627        35,911  

Morgan Stanley Bank of America Merrill Lynch Trust

      

Series 2013-C11, Class B,

      

4.40% (B), 08/15/2046

      1,035,000        763,411  

Nationstar Mortgage Loan Trust

      

Series 2013-A, Class A,

      

3.75% (B), 12/25/2052 (A)

      758,596        703,036  

New Residential Mortgage Loan Trust

      

Series 2014-1A, Class A,

      

3.75% (B), 01/25/2054 (A)

      313,525        296,723  

Series 2014-2A, Class A3,

      

3.16% (B), 05/25/2054 (A)

      246,758        227,487  

Series 2014-3A, Class AFX3,

      

3.75% (B), 11/25/2054 (A)

      838,572        780,714  

Series 2015-2A, Class A1,

      

3.75% (B), 08/25/2055 (A)

      1,058,383        993,111  

Series 2016-2A, Class A1,

      

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

      941,143        878,375  

Series 2016-3A, Class A1B,

      

3.25% (B), 09/25/2056 (A)

      1,886,558        1,742,479  

Series 2017-1A, Class A1,

      

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

      1,703,370        1,616,543  

Series 2017-2A, Class A3,

      

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

      1,920,951        1,816,013  

Series 2017-3A, Class A1,

      

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

      2,683,961        2,556,981  

Series 2017-4A, Class A1,

      

4.00% (B), 05/25/2057 (A)

      1,347,339        1,263,617  
     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

New Residential Mortgage Loan Trust (continued)

      

Series 2018-1A, Class A1A,

      

4.00% (B), 12/25/2057 (A)

      $   824,017        $   786,567  

Series 2018-RPL1, Class A1,

      

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

      7,468,312        7,130,102  

Series 2019-4A, Class A1B,

      

3.50% (B), 12/25/2058 (A)

      5,553,640        5,170,385  

Series 2019-5A, Class A1B,

      

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

      1,407,994        1,323,416  

Series 2019-6A, Class A1B,

      

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

      2,023,916        1,878,347  

One Market Plaza Trust

      

Series 2017-1MKT, Class A,

      

3.61%, 02/10/2032 (A)

      11,917,000        11,199,177  

RALI Trust

      

Series 2007-QO4, Class A1A,

      

1-Month LIBOR + 0.38%,
4.89% (B), 05/25/2047

      268,977        241,268  

Structured Adjustable Rate Mortgage Loan Trust

      

Series 2005-15, Class 1A1,

      

4.11% (B), 07/25/2035

      189,811        114,115  

Series 2007-3, Class 3A1,

      

3.49% (B), 04/25/2047

      493,051        245,911  

Structured Asset Mortgage Investments II Trust

      

Series 2003-AR4, Class A1,

      

1-Month LIBOR + 0.70%,
5.17% (B), 01/19/2034

      13,005        12,273  

Towd Point Mortgage Trust

      

Series 2019-4, Class A1,

      

2.90% (B), 10/25/2059 (A)

      10,104,875        9,411,410  

Series 2021-1, Class A1,

      

2.25% (B), 11/25/2061 (A)

      4,342,959        3,945,696  

Series 2022-4, Class A1,

      

3.75%, 09/25/2062 (A)

      14,163,098        13,444,802  

Series 2023-1, Class A1,

      

3.75%, 01/25/2063 (A)

      8,530,000        8,131,649  

WaMu Mortgage Pass-Through Certificates Trust

      

Series 2005-AR8, Class 2A1A,

      

1-Month LIBOR + 0.58%,
5.09% (B), 07/25/2045

      19,275        17,828  

Series 2007-OA6, Class 1A1B,

      

12-MTA + 0.81%,
3.24% (B), 07/25/2047

      24,426        511  

Wells Fargo Commercial Mortgage Trust

      

Series 2015-C26, Class B,

      

3.78%, 02/15/2048

      3,000,000        2,804,942  

Series 2015-C29, Class AS,

      

4.01% (B), 06/15/2048

      6,250,000        5,967,529  
     

 

 

  

Total Mortgage-Backed Securities
(Cost $177,901,514)

 

      164,911,487  
  

 

 

  
MUNICIPAL GOVERNMENT OBLIGATION - 0.0% (E)  
Georgia - 0.0% (E)  

Municipal Electric Authority of Georgia, Revenue Bonds,

      

Series A,

      

6.64%, 04/01/2057

      270,000        307,385  
     

 

 

  

Total Municipal Government Obligation
(Cost $319,186)

 

      307,385  
  

 

 

  
U.S. GOVERNMENT AGENCY OBLIGATIONS - 23.8%  

Federal Home Loan Mortgage Corp.

      

12-Month LIBOR + 1.90%,
2.40% (B), 02/01/2041

      20,261        19,941  
 

 

Transamerica Funds

     Page    7         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

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

Federal Home Loan Mortgage Corp. (continued)

      

6-Month LIBOR + 1.57%,
2.82% (B), 02/01/2037

      $   1,897        $   1,854  

12-Month LIBOR + 1.66%,
3.18% (B), 01/01/2038

      51,899        52,076  

6-Month LIBOR + 1.36%,
3.90% (B), 05/01/2037

      13,456        13,556  

6-Month LIBOR + 2.12%,
3.91% (B), 05/01/2037

      4,637        4,525  

12-Month LIBOR + 1.73%,
3.98% (B), 09/01/2035

      129,693        131,316  

12-Month LIBOR + 1.75%,
4.00% (B), 12/01/2034

      5,633        5,592  

12-Month LIBOR + 1.80%,
4.05% (B), 09/01/2037

      9,866        10,052  

6-Month LIBOR + 1.57%,
4.72% (B), 04/01/2037

      12,020        12,085  

5.00%, 12/01/2035

      194,168        200,222  

6.00%, 05/01/2031

      144,697        150,099  

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

      

2.81%, 01/25/2025

      10,344,391        10,008,333  

2.89%, 06/25/2027

      2,930,464        2,880,261  

3.01%, 07/25/2025

      12,812,000        12,399,153  

3.06% (B), 08/25/2024

      4,856,562        4,738,701  

3.17%, 10/25/2024

      17,140,000        16,725,315  

3.49%, 01/25/2024

      6,965,000        6,870,640  

Federal National Mortgage Association

      

12-Month LIBOR + 1.75%,
2.25% (B), 03/01/2041

      11,452        11,246  

6-Month LIBOR + 0.94%,
3.37% (B), 08/01/2037

      766        765  

3.50%, 07/01/2028 - 01/01/2029

      831,795        815,945  

12-Month LIBOR + 1.74%,
3.74% (B), 08/01/2035

      16,249        16,600  

4.50%, 02/01/2025 - 04/01/2025

      19,922        20,119  

6-Month LIBOR + 1.52%,
4.74% (B), 01/01/2035

      3,489        3,510  

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

      4,669,488        4,738,163  

5.50%, 04/01/2036 - 12/01/2041

      2,002,367        2,101,341  

6.00%, 02/01/2034 - 01/01/2040

      2,051,250        2,147,819  

6.50%, 06/01/2038 - 05/01/2040

      819,039        870,009  

Government National Mortgage Association, Interest Only STRIPS

      

Series 2012-120, Class IO,

      

0.64% (B), 02/16/2053

      2,372,458        38,019  

Tennessee Valley Authority

      

5.88%, 04/01/2036

      2,768,000        3,192,514  

Uniform Mortgage-Backed Security

      

2.00%, TBA (F)

      85,510,000        74,553,133  

2.50%, TBA (F)

      155,184,000        137,018,960  

3.00%, TBA (F)

      110,735,000        101,112,702  

3.50%, TBA (F)

      115,576,000        108,883,431  

4.00%, TBA (F)

      73,724,000        71,100,462  

4.50%, TBA (F)

      41,726,000        41,166,974  
     

 

 

  

Total U.S. Government Agency Obligations
(Cost $602,247,167)

 

      602,015,433  
  

 

 

  
U.S. GOVERNMENT OBLIGATIONS - 28.7%  
U.S. Treasury - 27.5%  

U.S. Treasury Bonds

      

1.25%, 05/15/2050

      21,429,000        12,478,207  

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

      11,868,000        8,081,815  

2.00%, 02/15/2050

      9,112,000        6,454,571  

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

      29,315,000        21,890,992  

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

      18,112,000        14,447,188  
     Principal      Value  
U.S. GOVERNMENT OBLIGATIONS (continued)  
U.S. Treasury (continued)  

U.S. Treasury Bonds (continued)

      

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

      $   42,510,200        $   34,037,259  

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

      20,088,500        17,001,519  

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

      9,895,500        8,472,387  

3.00%, 05/15/2042 - 08/15/2048

      7,297,300        6,439,323  

3.00%, 08/15/2052 (C)

      51,941,100        45,602,663  

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

      18,503,000        16,839,180  

3.63%, 02/15/2044

      9,479,600        9,210,764  

4.00%, 11/15/2052

      5,195,000        5,512,383  

5.25%, 02/15/2029

      25,842,100        28,025,556  

U.S. Treasury Notes

      

0.25%, 05/31/2025

      3,253,000        2,978,401  

0.63%, 05/15/2030

      2,059,000        1,680,578  

0.63%, 08/15/2030 (C)

      9,737,000        7,909,411  

0.88%, 06/30/2026

      16,360,100        14,826,980  

1.13%, 02/15/2031

      5,731,000        4,812,921  

1.25%, 11/30/2026

      12,997,000        11,835,901  

1.38%, 11/15/2031

      37,727,000        31,721,628  

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

      73,171,700        67,038,523  

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

      24,038,900        21,431,248  

1.88%, 02/15/2032

      21,448,800        18,769,376  

2.25%, 11/15/2025 (C)

      1,956,500        1,869,451  

2.25%, 11/15/2027

      70,991,400        66,593,261  

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

      18,970,000        18,696,357  

2.63%, 02/15/2029

      2,275,400        2,150,786  

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

      72,354,600        67,962,280  

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

      55,371,100        52,882,669  

2.88%, 08/15/2028 (C)

      12,179,700        11,702,979  

3.13%, 11/15/2028

      13,172,000        12,813,886  

3.25%, 08/31/2024

      3,682,000        3,614,113  

3.88%, 11/30/2027

      5,843,100        5,900,618  

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

      31,951,900        33,411,941  
     

 

 

  
        695,097,115  
     

 

 

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

U.S. Treasury Inflation-Protected Indexed Bonds

      

0.25%, 02/15/2050

      7,506,286        5,404,453  

1.75%, 01/15/2028

      4,428,383        4,496,625  

2.50%, 01/15/2029

      13,283,840        14,109,539  

U.S. Treasury Inflation-Protected Indexed Notes

      

0.13%, 07/15/2030

      7,755,655        7,116,268  
     

 

 

  
        31,126,885  
     

 

 

  

Total U.S. Government Obligations
(Cost $768,678,207)

 

      726,224,000  
  

 

 

  
     Shares      Value  
PREFERRED STOCKS - 0.2%  
Banks - 0.2%  

Citigroup Capital XIII,

      

3-Month LIBOR + 6.37%,
11.17% (B)

      184,306        5,293,269  
     

 

 

  
Electric Utilities - 0.0% (E)  

SCE Trust III,

      

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

      7,998        178,755  
     

 

 

  

Total Preferred Stocks
(Cost $5,380,762)

 

      5,472,024  
  

 

 

  
 

 

Transamerica Funds

     Page    8         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
COMMERCIAL PAPER - 16.9%  
Banks - 10.1%  

Australia & New Zealand Banking Group Ltd.

      

5.16% (G), 07/10/2023

      $  22,900,000        $   22,424,596  

Bedford Row Funding Corp.

      

4.65% (G), 02/07/2023

      16,927,000        16,912,321  

BofA Securities, Inc.

      

5.21% (G), 07/13/2023

      18,008,000        17,606,353  

Cooperatieve Rabobank UA

      

5.05% (G), 07/31/2023

      5,000,000        4,878,755  

DBS Bank Ltd.

      

5.08% (G), 07/27/2023

      23,785,000        23,204,729  

DNB Bank ASA

      

5.07% (G), 06/20/2023

      25,000,000        24,541,208  

Korea Development Bank

      

5.35% (G), 06/14/2023

      17,364,000        17,054,280  

Lloyds Bank PLC

      

4.76% (G), 03/03/2023

      3,950,000        3,934,650  

5.09% (G), 07/18/2023

      21,925,000        21,425,797  

Mackinac Funding Co. LLC

      

4.81% (G), 03/01/2023

      11,915,000        11,870,896  

Macquarie Bank Ltd.

      

4.62% (G), 02/28/2023

      13,550,000        13,501,985  

4.70% (G), 02/28/2023

      7,541,000        7,514,278  

Societe Generale SA

      

5.22% (G), 06/12/2023

      21,000,000        20,630,862  

Standard Chartered Bank

      

5.19% (G), 06/21/2023

      25,000,000        24,537,833  

Svenska Handelsbanken AB

      

5.06% (G), 07/24/2023

      25,000,000        24,415,408  
     

 

 

  
        254,453,951  
     

 

 

  
Diversified Financial Services - 5.0%  

Atlantic Asset Securitization LLC

      

4.74% (G), 02/15/2023

      12,773,000        12,749,045  

Cancara Asset Securitisation LLC

      

4.97% (G), 05/15/2023

      1,636,000        1,613,565  

Chariot Funding LLC

      

4.77% (G), 02/10/2023

      3,825,000        3,820,238  

Glencove Funding LLC

      

4.74% (G), 02/03/2023

      15,000,000        14,994,549  

5.02% (G), 06/20/2023

      7,000,000        6,868,163  

Lexington Parker Capital Co. LLC

      

4.77% (G), 03/03/2023

      14,905,000        14,846,447  

Liberty Street Funding LLC

      

4.83% (G), 02/07/2023

      1,275,000        1,273,892  

5.07% (G), 05/25/2023

      10,900,000        10,732,732  

Mont Blanc Capital Corp.

      

4.74% (G), 02/21/2023

      2,709,000        2,701,849  

Sheffield Receivables Co. LLC

      

4.83% (G), 03/06/2023

      14,000,000        13,938,900  

Thunder Bay Funding LLC

      

5.03% (G), 05/12/2023 - 05/18/2023

      18,450,000        18,197,694  

Victory Receivables Corp.

      

4.87% (G), 04/28/2023

      25,000,000        24,715,256  
     

 

 

  
        126,452,330  
     

 

 

  
Food Products - 0.6%  

Britannia Funding Co. LLC

      

4.79% (G), 02/07/2023

      15,000,000        14,986,933  
     

 

 

  
     Principal      Value  
COMMERCIAL PAPER (continued)  
Health Care Providers & Services - 0.4%  

Columbia Funding Co. LLC

      

4.72% (G), 03/01/2023

      $   10,500,000        $   10,461,464  
     

 

 

  
Software - 0.8%  

Manhattan Asset Funding Co. LLC

      

4.91% (G), 05/24/2023

      9,000,000        8,866,264  

5.20% (G), 07/10/2023

      11,073,000        10,830,034  
     

 

 

  
        19,696,298  
     

 

 

  

Total Commercial Paper
(Cost $425,974,131)

 

      426,050,976  
  

 

 

  
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 3.9%  

U.S. Treasury Bills

      

4.13% (G), 02/02/2023 (C)

      7,243,000        7,242,196  

4.28% (G), 03/09/2023

      35,652,000        35,492,850  

4.60% (G), 06/08/2023

      30,417,000        29,927,128  

4.61% (G), 06/08/2023

      3,574,000        3,516,440  

4.81% (G), 07/20/2023

      11,946,000        11,689,014  

4.83% (G), 07/20/2023

      11,263,000        11,020,707  
     

 

 

  

Total Short-Term U.S. Government Obligations
(Cost $98,906,248)

 

      98,888,335  
  

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 2.2%  
Securities Lending Collateral - 2.2%  

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

      54,828,934        54,828,934  
     

 

 

  

Total Other Investment Company
(Cost $54,828,934)

 

      54,828,934  
  

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 1.0%  

Fixed Income Clearing Corp., 1.80% (G), dated 01/31/2023, to be repurchased at $25,035,217 on 02/01/2023. Collateralized by a U.S. Government Obligation, 0.13%, due 07/15/2024, and with a value of $25,534,660.

      $  25,033,965        25,033,965  
     

 

 

  

Total Repurchase Agreement
(Cost $25,033,965)

 

      25,033,965  
  

 

 

  

Total Investments
(Cost $3,176,027,628)

 

      3,084,974,177  

Net Other Assets (Liabilities) - (22.0)%

         (555,956,684 ) 
     

 

 

  

Net Assets - 100.0%

         $  2,529,017,493  
     

 

 

  
 

 

Transamerica Funds

     Page    9         

Transamerica Core Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

INVESTMENT VALUATION:

 

Valuation Inputs (H)

 

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

ASSETS

            

Investments

            

Asset-Backed Securities

    $ —        $ 128,867,782      $ —        $ 128,867,782  

Corporate Debt Securities

      —          840,150,729        —          840,150,729  

Foreign Government Obligations

      —          12,223,127        —          12,223,127  

Mortgage-Backed Securities

      —          164,911,487        —          164,911,487  

Municipal Government Obligation

      —          307,385        —          307,385  

U.S. Government Agency Obligations

      —          602,015,433        —          602,015,433  

U.S. Government Obligations

      —          726,224,000        —          726,224,000  

Preferred Stocks

      5,472,024        —          —          5,472,024  

Commercial Paper

      —          426,050,976        —          426,050,976  

Short-Term U.S. Government Obligations

      —          98,888,335        —          98,888,335  

Other Investment Company

      54,828,934        —          —          54,828,934  

Repurchase Agreement

      —          25,033,965        —          25,033,965  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $     60,300,958      $     3,024,673,219      $ —        $     3,084,974,177  
  

 

 

     

 

 

     

 

 

     

 

 

  

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2023, the total value of 144A securities is $468,990,785, representing 18.5% of the Fund’s net assets.
(B)      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.
(C)      All or a portion of the securities are on loan. The total value of all securities on loan is $81,736,691, collateralized by cash collateral of $54,828,934 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $28,614,900. 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.
(D)      Perpetual maturity. The date displayed is the next call date.
(E)      Percentage rounds to less than 0.1% or (0.1)%.
(F)      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.
(G)      Rates disclosed reflect the yields at January 31, 2023.
(H)      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.

PORTFOLIO ABBREVIATIONS:

 

LIBOR

    London Interbank Offered Rate

MTA

    Month Treasury Average

STRIPS

    Separate Trading of Registered Interest and Principal of Securities

TBA

    To Be Announced

 

Transamerica Funds

     Page    10         

Transamerica Core Bond

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

INVESTMENT VALUATION

Transamerica Core Bond (formerly, Transamerica Intermediate Bond) (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.

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:

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

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

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

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.

 

Transamerica Funds

     Page    11         

Transamerica Core Bond

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

Municipal government obligations: The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

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

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

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

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

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

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

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

 

Transamerica Funds

     Page    12