NPORT-EX 2 NPORT_I3GD_44286242_0123.htm FOR VALIDATION PURPOSES ONLY - [447377.I3GD]

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES - 97.4%  
Auto Components - 3.1%  

Clarios Global LP / Clarios US Finance Co.

      

6.25%, 05/15/2026 (A)

      $  30,000        $  29,820  

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

      120,000        119,524  

Dana, Inc.

      

4.50%, 02/15/2032

      377,000        318,003  

5.63%, 06/15/2028 (B)

      274,000        258,068  

Goodyear Tire & Rubber Co.

      

4.88%, 03/15/2027

      130,000        121,722  

5.00%, 07/15/2029 (B)

      115,000        101,307  

9.50%, 05/31/2025

      18,000        18,579  

Patrick Industries, Inc.

      

7.50%, 10/15/2027 (A)

      194,000        191,953  
     

 

 

  
        1,158,976  
     

 

 

  
Automobiles - 0.0% (G)              

Ford Motor Co.

      

6.10%, 08/19/2032 (B)

      13,000        12,751  
     

 

 

  
Banks - 3.5%              

Barclays PLC

      

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

      200,000        209,850  

Citigroup, Inc.

      

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

      318,000        294,181  

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

      135,000        129,262  

Intesa Sanpaolo SpA

      

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

      600,000        476,278  

JPMorgan Chase & Co.

      

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

      203,000        189,932  
     

 

 

  
        1,299,503  
     

 

 

  
Beverages - 1.2%              

Primo Water Holdings, Inc.

      

4.38%, 04/30/2029 (A)

      520,000        453,565  
     

 

 

  
Biotechnology - 0.9%  

Grifols Escrow Issuer SA

      

4.75%, 10/15/2028 (A)

      400,000        347,848  
     

 

 

  
Building Products - 1.7%  

Builders FirstSource, Inc.

      

4.25%, 02/01/2032 (A)

      12,000        10,325  

5.00%, 03/01/2030 (A)

      128,000        119,352  

Cornerstone Building Brands, Inc.

      

6.13%, 01/15/2029 (A)

      556,000        416,511  

Standard Industries, Inc.

      

4.38%, 07/15/2030 (A)

      23,000        19,662  

5.00%, 02/15/2027 (A)

      88,000        83,392  
     

 

 

  
        649,242  
     

 

 

  
Capital Markets - 2.2%  

Camelot Return Merger Sub, Inc.

      

8.75%, 08/01/2028 (A)

      253,000        237,883  

LPL Holdings, Inc.

      

4.00%, 03/15/2029 (A)

      457,000        407,735  

4.63%, 11/15/2027 (A) (B)

      50,000        47,582  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Capital Markets (continued)  

MSCI, Inc.

      

3.63%, 09/01/2030 (A)

      $   143,000        $   124,343  
     

 

 

  
        817,543  
     

 

 

  
Chemicals - 0.5%              

ASP Unifrax Holdings, Inc.

      

5.25%, 09/30/2028 (A)

      25,000        21,419  

7.50%, 09/30/2029 (A)

      72,000        51,850  

Avient Corp.

      

7.13%, 08/01/2030 (A)

      72,000        72,533  

Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.

      

5.13%, 04/01/2029 (A)

      76,000        54,751  
     

 

 

  
        200,553  
     

 

 

  
Commercial Services & Supplies - 4.9%              

Ashtead Capital, Inc.

      

4.00%, 05/01/2028 (A)

      400,000        375,467  

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

      

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

      178,000        159,132  

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

      287,000        269,697  

Covanta Holding Corp.

      

4.88%, 12/01/2029 (A)

      33,000        28,783  

5.00%, 09/01/2030

      414,000        352,472  

Garda World Security Corp.

      

4.63%, 02/15/2027 (A)

      196,000        178,381  

6.00%, 06/01/2029 (A)

      76,000        63,437  

Harsco Corp.

      

5.75%, 07/31/2027 (A)

      231,000        195,426  

Stericycle, Inc.

      

5.38%, 07/15/2024 (A)

      186,000        184,209  
     

 

 

  
        1,807,004  
     

 

 

  
Communications Equipment - 1.4%              

CommScope Technologies LLC

      

6.00%, 06/15/2025 (A)

      162,000        153,419  

CommScope, Inc.

      

4.75%, 09/01/2029 (A)

      127,000        105,177  

6.00%, 03/01/2026 (A)

      290,000        278,922  
     

 

 

  
        537,518  
     

 

 

  
Construction & Engineering - 0.6%              

Ashton Woods USA LLC / Ashton Woods Finance Co.

      

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

      45,000        37,553  

6.63%, 01/15/2028 (A)

      200,000        182,440  
     

 

 

  
        219,993  
     

 

 

  
Construction Materials - 1.5%              

Advanced Drainage Systems, Inc.

      

5.00%, 09/30/2027 (A)

      555,000        528,287  

6.38%, 06/15/2030 (A) (B)

      31,000        30,801  
     

 

 

  
        559,088  
     

 

 

  
Consumer Finance - 2.1%              

Ford Motor Credit Co. LLC

      

4.00%, 11/13/2030

      400,000        347,551  

6.95%, 03/06/2026

      220,000        225,036  

7.35%, 11/04/2027

      216,000        226,530  
     

 

 

  
        799,117  
     

 

 

  
 

 

Transamerica Funds

     Page    1         

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Containers & Packaging - 3.5%  

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

      

3.25%, 09/01/2028 (A) (B)

      $   400,000        $   351,012  

Cascades, Inc. / Cascades USA, Inc.

      

5.13%, 01/15/2026 (A)

      365,000        340,251  

5.38%, 01/15/2028 (A)

      61,000        56,775  

Graphic Packaging International LLC

      

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

      204,000        182,362  

4.13%, 08/15/2024

      99,000        97,410  

Mauser Packaging Solutions Holding Co.

      

5.50%, 04/15/2024 (A)

      98,000        97,931  

7.88%, 08/15/2026 (A) (E)

      71,000        71,621  

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

      

4.00%, 10/15/2027 (A)

      78,000        70,005  

Trident TPI Holdings, Inc.

      

9.25%, 08/01/2024 (A)

      31,000        30,248  
     

 

 

  
        1,297,615  
     

 

 

  
Diversified Consumer Services - 0.2%  

WW International, Inc.

      

4.50%, 04/15/2029 (A)

      133,000        70,854  
     

 

 

  
Diversified Financial Services - 1.3%  

Dana Financing Luxembourg SARL

      

5.75%, 04/15/2025 (A)

      274,000        271,260  

Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.

      

5.25%, 10/01/2025 (A)

      78,000        75,097  

United Wholesale Mortgage LLC

      

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

      146,000        131,126  
     

 

 

  
        477,483  
     

 

 

  
Diversified Telecommunication Services - 4.0%  

Frontier Communications Holdings LLC

      

5.00%, 05/01/2028 (A)

      156,000        140,876  

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

      46,000        37,613  

8.75%, 05/15/2030 (A)

      25,000        25,895  

Hughes Satellite Systems Corp.

      

6.63%, 08/01/2026

      199,000        192,457  

Iliad Holding SASU

      

6.50%, 10/15/2026 (A)

      400,000        378,782  

Level 3 Financing, Inc.

      

3.63%, 01/15/2029 (A)

      18,000        13,392  

3.75%, 07/15/2029 (A)

      216,000        158,274  

4.25%, 07/01/2028 (A)

      83,000        65,777  

Lumen Technologies, Inc.

      

5.13%, 12/15/2026 (A) (B)

      435,000        370,837  

5.38%, 06/15/2029 (A) (B)

      46,000        31,868  

Telecom Italia Capital SA

      

6.00%, 09/30/2034

      53,000        42,262  

6.38%, 11/15/2033

      19,000        15,957  
     

 

 

  
        1,473,990  
     

 

 

  
Electric Utilities - 2.1%  

Pattern Energy Operations LP / Pattern Energy Operations, Inc.

      

4.50%, 08/15/2028 (A)

      831,000        762,443  
     

 

 

  
Electrical Equipment - 0.1%  

Atkore, Inc.

      

4.25%, 06/01/2031 (A)

      23,000        20,205  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Electronic Equipment, Instruments & Components - 0.5%  

Sensata Technologies, Inc.

      

4.38%, 02/15/2030 (A)

      $   196,000        $   177,458  
     

 

 

  
Energy Equipment & Services - 1.6%  

CSI Compressco LP / CSI Compressco Finance, Inc.

      

7.50%, 04/01/2025 (A)

      88,000        82,634  

Sunnova Energy Corp.

      

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

      372,000        334,362  

USA Compression Partners LP / USA Compression Finance Corp.

      

6.88%, 09/01/2027

      196,000        190,071  
     

 

 

  
        607,067  
     

 

 

  
Entertainment - 0.4%  

Netflix, Inc.

      

4.88%, 06/15/2030 (A) (B)

      137,000        135,301  
     

 

 

  
Equity Real Estate Investment Trusts - 5.0%  

HAT Holdings I LLC / HAT Holdings II LLC

      

3.38%, 06/15/2026 (A)

      282,000        250,275  

3.75%, 09/15/2030 (A)

      260,000        197,906  

6.00%, 04/15/2025 (A)

      50,000        48,896  

Iron Mountain Information Management Services, Inc.

      

5.00%, 07/15/2032 (A)

      82,000        71,040  

Iron Mountain, Inc.

      

4.50%, 02/15/2031 (A)

      15,000        12,853  

5.25%, 03/15/2028 (A)

      420,000        397,572  

iStar, Inc.

      

5.50%, 02/15/2026

      72,000        72,540  

MPT Operating Partnership LP / MPT Finance Corp.

      

3.50%, 03/15/2031

      323,000        226,096  

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

      

5.88%, 10/01/2028 (A)

      94,000        86,476  

7.50%, 06/01/2025 (A)

      150,000        152,062  

SBA Communications Corp.

      

3.13%, 02/01/2029

      339,000        287,195  

3.88%, 02/15/2027

      55,000        50,799  
     

 

 

  
        1,853,710  
     

 

 

  
Food & Staples Retailing - 0.7%  

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

      

4.63%, 01/15/2027 (A)

      293,000        277,779  
     

 

 

  
Food Products - 2.5%  

Darling Ingredients, Inc.

      

5.25%, 04/15/2027 (A)

      454,000        442,764  

6.00%, 06/15/2030 (A)

      12,000        11,940  

Kraft Heinz Foods Co.

      

3.88%, 05/15/2027

      77,000        74,885  

Post Holdings, Inc.

      

4.50%, 09/15/2031 (A)

      27,000        23,245  

4.63%, 04/15/2030 (A)

      321,000        282,480  

5.50%, 12/15/2029 (A)

      79,000        73,213  

5.63%, 01/15/2028 (A)

      38,000        36,779  
     

 

 

  
        945,306  
     

 

 

  
Health Care Equipment & Supplies - 0.3%  

Medline Borrower LP

      

3.88%, 04/01/2029 (A)

      145,000        123,692  
     

 

 

  
 

 

Transamerica Funds

     Page    2         

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Health Care Providers & Services - 5.1%  

Acadia Healthcare Co., Inc.

      

5.00%, 04/15/2029 (A)

      $   159,000        $   149,493  

AdaptHealth LLC

      

4.63%, 08/01/2029 (A)

      5,000        4,350  

5.13%, 03/01/2030 (A)

      12,000        10,680  

6.13%, 08/01/2028 (A)

      240,000        227,045  

DaVita, Inc.

      

3.75%, 02/15/2031 (A)

      154,000        120,397  

4.63%, 06/01/2030 (A)

      147,000        123,745  

Encompass Health Corp.

      

4.63%, 04/01/2031

      5,000        4,401  

4.75%, 02/01/2030

      280,000        256,665  

HCA, Inc.

      

3.50%, 09/01/2030

      215,000        192,266  

5.88%, 02/15/2026

      166,000        168,640  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (A)

      121,000        111,750  

Tenet Healthcare Corp.

      

4.25%, 06/01/2029

      44,000        39,178  

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

      513,000        483,570  
     

 

 

  
        1,892,180  
     

 

 

  
Hotels, Restaurants & Leisure - 6.7%  

1011778 BC ULC / New Red Finance, Inc.

      

3.88%, 01/15/2028 (A)

      63,000        57,581  

Boyd Gaming Corp.

      

4.75%, 12/01/2027 (B)

      154,000        146,403  

Boyne USA, Inc.

      

4.75%, 05/15/2029 (A)

      311,000        281,716  

GLP Capital LP / GLP Financing II, Inc.

      

5.25%, 06/01/2025

      215,000        213,405  

Hilton Domestic Operating Co., Inc.

      

4.88%, 01/15/2030

      372,000        350,692  

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

      

4.88%, 07/01/2031 (A)

      366,000        317,388  

5.00%, 06/01/2029 (A)

      131,000        117,160  

Lions Gate Capital Holdings LLC

      

5.50%, 04/15/2029 (A)

      133,000        86,152  

NCL Corp. Ltd.

      

5.88%, 03/15/2026 (A)

      192,000        167,430  

Royal Caribbean Cruises Ltd.

      

4.25%, 07/01/2026 (A)

      14,000        12,145  

Travel & Leisure Co.

      

4.50%, 12/01/2029 (A)

      170,000        146,223  

5.65%, 04/01/2024

      242,000        240,110  

6.60%, 10/01/2025

      75,000        74,621  

Viking Cruises Ltd.

      

6.25%, 05/15/2025 (A)

      293,000        266,682  
     

 

 

  
        2,477,708  
     

 

 

  
Household Durables - 1.9%  

Beazer Homes USA, Inc.

      

6.75%, 03/15/2025

      12,000        11,748  

7.25%, 10/15/2029

      145,000        133,944  

KB Home

      

4.80%, 11/15/2029

      70,000        62,820  

7.25%, 07/15/2030

      120,000        119,638  

Meritage Homes Corp.

      

5.13%, 06/06/2027

      123,000        117,773  

6.00%, 06/01/2025

      37,000        37,200  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Household Durables (continued)  

Newell Brands, Inc.

      

4.88%, 06/01/2025

      $   215,000        $   210,216  
     

 

 

  
        693,339  
     

 

 

  
Household Products - 1.7%  

Central Garden & Pet Co.

      

4.13%, 04/30/2031 (A)

      82,000        68,786  

Energizer Holdings, Inc.

      

6.50%, 12/31/2027 (A)

      300,000        292,575  

Spectrum Brands, Inc.

      

3.88%, 03/15/2031 (A) (B)

      186,000        149,959  

5.50%, 07/15/2030 (A)

      116,000        105,366  
     

 

 

  
        616,686  
     

 

 

  
Independent Power & Renewable Electricity Producers - 2.4%  

Calpine Corp.

      

4.50%, 02/15/2028 (A)

      166,000        153,179  

5.00%, 02/01/2031 (A)

      176,000        150,580  

Clearway Energy Operating LLC

      

3.75%, 02/15/2031 (A)

      20,000        16,859  

4.75%, 03/15/2028 (A)

      616,000        581,011  
     

 

 

  
        901,629  
     

 

 

  
Insurance - 1.1%  

Hartford Financial Services Group, Inc.

      

3-Month LIBOR + 2.13%, 6.73% (C),
02/12/2067 (A)

      117,000        100,064  

Lincoln National Corp.

      

3-Month LIBOR + 2.36%, 7.01% (C),
05/17/2066

      141,000        112,835  

Ohio National Financial Services, Inc.

      

5.80%, 01/24/2030 (A)

      200,000        189,910  
     

 

 

  
        402,809  
     

 

 

  
IT Services - 0.7%  

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

      

6.00%, 11/01/2029 (A)

      104,000        92,040  

Gartner, Inc.

      

3.75%, 10/01/2030 (A)

      33,000        29,246  

4.50%, 07/01/2028 (A)

      98,000        93,099  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (A)

      104,000        63,014  
     

 

 

  
        277,399  
     

 

 

  
Leisure Products - 0.2%  

Mattel, Inc.

      

5.45%, 11/01/2041

      64,000        54,794  

6.20%, 10/01/2040

      7,000        6,499  
     

 

 

  
        61,293  
     

 

 

  
Life Sciences Tools & Services - 0.5%  

Charles River Laboratories International, Inc.

      

3.75%, 03/15/2029 (A)

      152,000        135,288  

4.00%, 03/15/2031 (A) (B)

      52,000        45,876  
     

 

 

  
        181,164  
     

 

 

  
Machinery - 3.0%  

Chart Industries, Inc.

      

7.50%, 01/01/2030 (A)

      14,000        14,298  

9.50%, 01/01/2031 (A) (B)

      16,000        16,696  
 

 

Transamerica Funds

     Page    3         

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

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

Madison IAQ LLC

      

4.13%, 06/30/2028 (A)

      $   266,000        $   234,989  

5.88%, 06/30/2029 (A)

      31,000        24,590  

Smyrna Ready Mix Concrete LLC

      

6.00%, 11/01/2028 (A)

      127,000        115,535  

SPX FLOW, Inc.

      

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

      154,000        126,681  

Vertiv Group Corp.

      

4.13%, 11/15/2028 (A)

      172,000        148,994  

Wabash National Corp.

      

4.50%, 10/15/2028 (A)

      473,000        416,027  
     

 

 

  
        1,097,810  
     

 

 

  
Media - 14.4%  

Arches Buyer, Inc.

      

4.25%, 06/01/2028 (A)

      109,000        91,560  

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

      43,000        36,217  

CCO Holdings LLC / CCO Holdings Capital Corp.

      

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

      99,000        81,220  

4.50%, 06/01/2033 (A)

      40,000        32,500  

4.75%, 02/01/2032 (A)

      184,000        155,940  

5.00%, 02/01/2028 (A)

      225,000        209,936  

Clear Channel Outdoor Holdings, Inc.

      

5.13%, 08/15/2027 (A)

      244,000        222,784  

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

      20,000        16,186  

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

      67,000        56,999  

CSC Holdings LLC

      

4.50%, 11/15/2031 (A)

      400,000        293,840  

Diamond Sports Group LLC / Diamond Sports Finance Co.

      

5.38%, 08/15/2026 (A)

      60,000        4,425  

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

      

5.88%, 08/15/2027 (A)

      127,000        115,037  

DISH DBS Corp.

      

5.25%, 12/01/2026 (A)

      113,000        97,383  

5.75%, 12/01/2028 (A)

      39,000        31,912  

7.75%, 07/01/2026

      137,000        111,266  

DISH Network Corp.

      

11.75%, 11/15/2027 (A)

      115,000        119,520  

Gray Escrow II, Inc.

      

5.38%, 11/15/2031 (A)

      165,000        125,041  

Gray Television, Inc.

      

4.75%, 10/15/2030 (A)

      455,000        335,562  

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

      184,000        167,390  

iHeartCommunications, Inc.

      

6.38%, 05/01/2026

      380,000        363,052  

8.38%, 05/01/2027 (B)

      133,000        118,842  

LCPR Senior Secured Financing DAC

      

5.13%, 07/15/2029 (A)

      250,000        217,661  

6.75%, 10/15/2027 (A)

      180,000        174,304  

Nexstar Media, Inc.

      

4.75%, 11/01/2028 (A) (B)

      23,000        20,528  

5.63%, 07/15/2027 (A)

      317,000        302,773  

Sinclair Television Group, Inc.

      

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

      117,000        93,272  

Sirius XM Radio, Inc.

      

3.13%, 09/01/2026 (A)

      37,000        33,299  

4.13%, 07/01/2030 (A)

      290,000        248,327  

Summer BC Bidco B LLC

      

5.50%, 10/31/2026 (A)

      400,000        331,362  

TEGNA, Inc.

      

4.63%, 03/15/2028

      270,000        253,408  

4.75%, 03/15/2026 (A)

      34,000        32,857  

Univision Communications, Inc.

      

6.63%, 06/01/2027 (A)

      145,000        142,100  

7.38%, 06/30/2030 (A)

      9,000        8,826  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Media (continued)  

UPC Broadband Finco BV

      

4.88%, 07/15/2031 (A)

      $   400,000        $   351,908  

VZ Secured Financing BV

      

5.00%, 01/15/2032 (A)

      400,000        340,267  
     

 

 

  
        5,337,504  
     

 

 

  
Metals & Mining - 2.0%  

Mineral Resources Ltd.

      

8.13%, 05/01/2027 (A)

      45,000        45,338  

8.50%, 05/01/2030 (A) (B)

      140,000        144,637  

New Gold, Inc.

      

7.50%, 07/15/2027 (A)

      397,000        368,773  

Novelis Corp.

      

3.25%, 11/15/2026 (A)

      42,000        38,023  

3.88%, 08/15/2031 (A)

      12,000        10,128  

4.75%, 01/30/2030 (A)

      140,000        126,700  
     

 

 

  
        733,599  
     

 

 

  
Oil, Gas & Consumable Fuels - 1.9%  

Cheniere Energy Partners LP

      

4.00%, 03/01/2031

      196,000        175,843  

DCP Midstream Operating LP

      

5.38%, 07/15/2025

      74,000        73,850  

Hess Midstream Operations LP

      

5.13%, 06/15/2028 (A)

      225,000        211,882  

NuStar Logistics LP

      

5.63%, 04/28/2027

      98,000        94,054  

Targa Resources Partners LP / Targa Resources Partners Finance Corp.

      

5.50%, 03/01/2030

      166,000        161,920  
     

 

 

  
        717,549  
     

 

 

  
Paper & Forest Products - 0.4%  

Glatfelter Corp.

      

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

      188,000        131,600  
     

 

 

  
Personal Products - 0.6%              

Coty, Inc.

      

5.00%, 04/15/2026 (A)

      121,000        115,858  

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

      95,000        93,651  
     

 

 

  
        209,509  
     

 

 

  
Real Estate Management & Development - 0.2%  

Cushman & Wakefield US Borrower LLC

      

6.75%, 05/15/2028 (A)

      88,000        84,949  
     

 

 

  
Road & Rail - 1.6%              

Hertz Corp.

      

4.63%, 12/01/2026 (A)

      6,000        5,340  

5.00%, 12/01/2029 (A)

      239,000        195,382  

Uber Technologies, Inc.

      

4.50%, 08/15/2029 (A)

      146,000        129,986  

6.25%, 01/15/2028 (A)

      5,000        4,892  

8.00%, 11/01/2026 (A)

      250,000        254,731  
     

 

 

  
        590,331  
     

 

 

  
Software - 1.1%              

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029 (B)

      22,000        18,881  

NCR Corp.

      

5.00%, 10/01/2028 (A)

      75,000        66,064  

5.13%, 04/15/2029 (A)

      107,000        93,193  

5.25%, 10/01/2030 (A)

      9,000        7,784  

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

      240,000        237,600  
     

 

 

  
        423,522  
     

 

 

  
 

 

Transamerica Funds

     Page    4         

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Technology Hardware, Storage & Peripherals - 0.4%  

Western Digital Corp.

      

4.75%, 02/15/2026

      $   144,000        $   139,051  
     

 

 

  
Trading Companies & Distributors - 3.1%  

Boise Cascade Co.

      

4.88%, 07/01/2030 (A)

      469,000        421,404  

Herc Holdings, Inc.

      

5.50%, 07/15/2027 (A)

      147,000        140,752  

United Rentals North America, Inc.

      

3.75%, 01/15/2032

      156,000        134,330  

4.00%, 07/15/2030

      374,000        335,417  

6.00%, 12/15/2029 (A)

      130,000        131,950  
     

 

 

  
        1,163,853  
     

 

 

  
Wireless Telecommunication Services - 2.6%  

Altice France SA

      

5.13%, 07/15/2029 (A)

      240,000        187,632  

Sprint LLC

      

7.88%, 09/15/2023

      325,000        329,848  

Vmed O2 Financing I PLC

      

4.75%, 07/15/2031 (A)

      548,000        465,810  
     

 

 

  
        983,290  
     

 

 

  

Total Corporate Debt Securities
(Cost $37,934,146)

 

      36,202,378  
     

 

 

  
SHORT-TERM U.S. GOVERNMENT OBLIGATION - 0.7%  

U.S. Treasury Bills

      

4.27% (F), 03/23/2023

      280,400        278,660  
     

 

 

  

Total Short-Term U.S. Government Obligation
(Cost $278,776)

 

      278,660  
     

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 10.5%  
Securities Lending Collateral - 10.5%  

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

      3,888,283        3,888,283  
     

 

 

  

Total Other Investment Company
(Cost $3,888,283)

 

      3,888,283  
     

 

 

  

Total Investments
(Cost $42,101,205)

 

      40,369,321  

Net Other Assets (Liabilities) - (8.6)%

 

      (3,192,455 ) 
     

 

 

  

Net Assets - 100.0%

 

      $  37,176,866  
     

 

 

  

        

 

 

Transamerica Funds

     Page    5         

Transamerica High Yield ESG

 

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

 

Corporate Debt Securities

    $ —        $ 36,202,378      $ —        $ 36,202,378  

Short-Term U.S. Government Obligation

      —          278,660        —          278,660  

Other Investment Company

      3,888,283        —          —          3,888,283  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $     3,888,283      $     36,481,038      $     —        $     40,369,321  
  

 

 

     

 

 

     

 

 

     

 

 

  

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 $27,283,852, representing 73.4% of the Fund’s net assets.
(B)      All or a portion of the securities are on loan. The total value of all securities on loan is $4,006,113, collateralized by cash collateral of $3,888,283 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $202,248. 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.
(C)      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.
(D)      Perpetual maturity. The date displayed is the next call date.
(E)      When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2023. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(F)      Rates disclosed reflect the yields at January 31, 2023.
(G)      Percentage rounds to less than 0.1% or (0.1)%.
(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 ABBREVIATION:

 

LIBOR

    London Interbank Offered Rate

 

Transamerica Funds

     Page    6         

Transamerica High Yield ESG

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

INVESTMENT VALUATION

Transamerica High Yield ESG (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:

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.

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.

 

Transamerica Funds

     Page    7