Transamerica Sustainable Bond
SCHEDULE OF INVESTMENTS
At January 31, 2023
(unaudited)
Principal | Value | |||||||
ASSET-BACKED SECURITIES - 14.2% | ||||||||
Aligned Data Centers Issuer LLC |
| |||||||
Series 2021-1A, Class A2, |
||||||||
1.94%, 08/15/2046 (A) |
$ 200,000 | $ 177,349 | ||||||
DataBank Issuer |
| |||||||
Series 2021-1A, Class A2, |
||||||||
2.06%, 02/27/2051 (A) |
125,000 | 112,245 | ||||||
Series 2021-2A, Class A2, |
||||||||
2.40%, 10/25/2051 (A) |
100,000 | 88,617 | ||||||
GoodLeap Sustainable Home Solutions Trust |
| |||||||
Series 2021-4GS, Class A, |
||||||||
1.93%, 07/20/2048 (A) |
82,620 | 63,087 | ||||||
Series 2021-5CS, Class A, |
||||||||
2.31%, 10/20/2048 (A) |
107,343 | 87,298 | ||||||
Series 2022-1GS, Class B, |
||||||||
2.94%, 01/20/2049 (A) |
112,638 | 87,664 | ||||||
Loanpal Solar Loan Ltd. |
| |||||||
Series 2020-2GF, Class A, |
||||||||
2.75%, 07/20/2047 (A) |
169,043 | 143,764 | ||||||
Series 2021-1GS, Class A, |
||||||||
2.29%, 01/20/2048 (A) |
68,180 | 54,250 | ||||||
Series 2021-2GS, Class A, |
||||||||
2.22%, 03/20/2048 (A) |
49,325 | 38,448 | ||||||
Luminace ABS Issuer LLC |
| |||||||
Series 2022-1, Class A, |
||||||||
4.88%, 07/31/2062 (A) |
166,014 | 153,073 | ||||||
MMAF Equipment Finance LLC |
| |||||||
Series 2020-A, Class A5, |
||||||||
1.56%, 10/09/2042 (A) |
186,000 | 164,780 | ||||||
Mosaic Solar Loan Trust |
| |||||||
Series 2021-3A, Class B, |
||||||||
1.92%, 06/20/2052 (A) |
84,140 | 65,301 | ||||||
OneMain Financial Issuance Trust |
| |||||||
Series 2022-S1, Class A, |
||||||||
4.13%, 05/14/2035 (A) |
135,000 | 131,149 | ||||||
ServiceMaster Funding LLC |
| |||||||
Series 2020-1, Class A2II, |
||||||||
3.34%, 01/30/2051 (A) |
122,500 | 97,174 | ||||||
Series 2021-1, Class A2II, |
||||||||
3.11%, 07/30/2051 (A) |
118,200 | 90,093 | ||||||
SoFi Professional Loan Program LLC |
| |||||||
Series 2016-D, Class B, |
||||||||
3.23% (B), 01/25/2039 (A) |
100,000 | 93,543 | ||||||
Series 2017-A, Class A2B, |
||||||||
2.40%, 03/26/2040 (A) |
8,258 | 8,191 | ||||||
Series 2019-C, Class BFX, |
||||||||
3.05%, 11/16/2048 (A) |
261,000 | 219,404 | ||||||
Sunnova Helios IV Issuer LLC |
| |||||||
Series 2020-AA, Class A, |
||||||||
2.98%, 06/20/2047 (A) |
206,293 | 179,495 | ||||||
Sunnova Sol II Issuer LLC |
| |||||||
Series 2020-2A, Class A, |
||||||||
2.73%, 11/01/2055 (A) |
131,613 | 102,448 | ||||||
Sunnova Sol III Issuer LLC |
| |||||||
Series 2021-1, Class A, |
||||||||
2.58%, 04/28/2056 (A) |
135,061 | 105,953 | ||||||
Sunrun Demeter Issuer LLC |
| |||||||
Series 2021-2A, Class A, |
||||||||
2.27%, 01/30/2057 (A) |
117,366 | 94,064 | ||||||
Sunrun Vulcan Issuer LLC |
| |||||||
Series 2021-1A, Class A, |
||||||||
2.46%, 01/30/2052 (A) |
113,954 | 93,559 |
Principal | Value | |||||||
ASSET-BACKED SECURITIES (continued) | ||||||||
Towd Point Mortgage Trust |
| |||||||
Series 2018-3, Class A1, |
||||||||
3.75% (B), 05/25/2058 (A) |
$ 134,462 | $ 129,064 | ||||||
Series 2018-5, Class A1A, |
||||||||
3.25% (B), 07/25/2058 (A) |
48,071 | 46,304 | ||||||
Vantage Data Centers Issuer LLC |
| |||||||
Series 2020-1A, Class A2, |
||||||||
1.65%, 09/15/2045 (A) |
180,000 | 161,397 | ||||||
Series 2021-1A, Class A2, |
||||||||
2.17%, 10/15/2046 (A) |
125,000 | 110,064 | ||||||
Vivint Solar Financing VII LLC |
| |||||||
Series 2020-1A, Class A, |
||||||||
2.21%, 07/31/2051 (A) |
222,981 | 175,494 | ||||||
|
|
|||||||
Total Asset-Backed Securities |
|
3,073,272 | ||||||
|
|
|||||||
CORPORATE DEBT SECURITIES - 44.6% | ||||||||
Auto Components - 0.3% | ||||||||
BorgWarner, Inc. |
| |||||||
4.38%, 03/15/2045 |
90,000 | 73,435 | ||||||
|
|
|||||||
Automobiles - 1.1% | ||||||||
Ford Motor Co. |
| |||||||
3.25%, 02/12/2032 |
130,000 | 103,164 | ||||||
General Motors Co. |
||||||||
5.60%, 10/15/2032 |
141,000 | 138,960 | ||||||
|
|
|||||||
242,124 | ||||||||
|
|
|||||||
Banks - 9.2% | ||||||||
Bank of America Corp. |
| |||||||
Fixed until 10/22/2024, |
202,000 | 193,040 | ||||||
BNP Paribas SA |
| |||||||
4.38%, 09/28/2025 (A) |
200,000 | 195,868 | ||||||
BPCE SA |
| |||||||
Fixed until 10/19/2026, |
250,000 | 220,904 | ||||||
Citigroup, Inc. |
| |||||||
Fixed until 05/15/2023, |
128,000 | 126,728 | ||||||
Huntington National Bank |
| |||||||
3.55%, 10/06/2023 |
250,000 | 247,546 | ||||||
Intesa Sanpaolo SpA |
| |||||||
Fixed until 11/21/2032, |
200,000 | 218,262 | ||||||
PNC Bank NA |
| |||||||
4.05%, 07/26/2028 |
250,000 | 241,252 | ||||||
PNC Financial Services Group, Inc. |
| |||||||
Fixed until 01/24/2033, |
153,000 | 153,830 | ||||||
UniCredit SpA |
| |||||||
Fixed until 06/03/2031, |
200,000 | 162,327 | ||||||
US Bancorp |
| |||||||
3.10%, 04/27/2026 |
250,000 | 239,358 | ||||||
|
|
|||||||
1,999,115 | ||||||||
|
|
|||||||
Biotechnology - 0.4% | ||||||||
AbbVie, Inc. |
| |||||||
3.20%, 05/14/2026 |
20,000 | 19,178 | ||||||
4.05%, 11/21/2039 |
20,000 | 17,948 |
Transamerica Funds |
Page 1 |
Transamerica Sustainable Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Biotechnology (continued) | ||||||||
Amgen, Inc. |
| |||||||
3.13%, 05/01/2025 |
$ 40,000 | $ 38,606 | ||||||
Gilead Sciences, Inc. |
| |||||||
3.65%, 03/01/2026 |
20,000 | 19,457 | ||||||
|
|
|||||||
95,189 | ||||||||
|
|
|||||||
Building Products - 0.7% | ||||||||
Carlisle Cos., Inc. |
| |||||||
2.75%, 03/01/2030 (C) |
110,000 | 94,883 | ||||||
Cornerstone Building Brands, Inc. |
| |||||||
6.13%, 01/15/2029 (A) (C) |
90,000 | 67,421 | ||||||
|
|
|||||||
162,304 | ||||||||
|
|
|||||||
Capital Markets - 2.3% | ||||||||
Deutsche Bank AG |
| |||||||
1.69%, 03/19/2026 |
265,000 | 241,398 | ||||||
Goldman Sachs Group, Inc. |
| |||||||
Fixed until 06/15/2026, |
133,000 | 130,202 | ||||||
Morgan Stanley |
| |||||||
Fixed until 10/21/2024, |
140,000 | 129,706 | ||||||
|
|
|||||||
501,306 | ||||||||
|
|
|||||||
Chemicals - 1.7% | ||||||||
Huntsman International LLC |
| |||||||
4.50%, 05/01/2029 |
80,000 | 74,859 | ||||||
Orbia Advance Corp. SAB de CV |
| |||||||
5.88%, 09/17/2044 (D) |
200,000 | 183,409 | ||||||
PPG Industries, Inc. |
| |||||||
2.55%, 06/15/2030 |
50,000 | 43,212 | ||||||
Sherwin-Williams Co. |
| |||||||
4.50%, 06/01/2047 |
80,000 | 71,742 | ||||||
|
|
|||||||
373,222 | ||||||||
|
|
|||||||
Commercial Services & Supplies - 0.4% | ||||||||
Waste Management, Inc. |
| |||||||
3.13%, 03/01/2025 |
80,000 | 77,519 | ||||||
|
|
|||||||
Construction & Engineering - 0.8% | ||||||||
IHS Holding Ltd. |
| |||||||
5.63%, 11/29/2026 (A) |
200,000 | 168,900 | ||||||
|
|
|||||||
Construction Materials - 0.8% | ||||||||
Advanced Drainage Systems, Inc. |
| |||||||
5.00%, 09/30/2027 (A) |
190,000 | 180,855 | ||||||
|
|
|||||||
Containers & Packaging - 1.2% | ||||||||
Cascades, Inc. / Cascades USA, Inc. |
| |||||||
5.13%, 01/15/2026 (A) |
59,000 | 55,000 | ||||||
5.38%, 01/15/2028 (A) |
88,000 | 81,905 | ||||||
Sonoco Products Co. |
| |||||||
2.25%, 02/01/2027 |
79,000 | 71,376 | ||||||
2.85%, 02/01/2032 |
55,000 | 46,851 | ||||||
|
|
|||||||
255,132 | ||||||||
|
|
|||||||
Diversified Financial Services - 1.1% | ||||||||
United Wholesale Mortgage LLC |
| |||||||
5.50%, 11/15/2025 (A) |
130,000 | 121,597 | ||||||
USAA Capital Corp. |
| |||||||
2.13%, 05/01/2030 (A) |
150,000 | 127,324 | ||||||
|
|
|||||||
248,921 | ||||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Diversified Telecommunication Services - 1.8% | ||||||||
Network i2i Ltd. |
| |||||||
Fixed until 01/15/2025 (E), 5.65% (B) (D) |
$ 200,000 | $ 192,250 | ||||||
Verizon Communications, Inc. |
| |||||||
3.88%, 02/08/2029 |
200,000 | 192,143 | ||||||
|
|
|||||||
384,393 | ||||||||
|
|
|||||||
Electric Utilities - 3.2% | ||||||||
Duke Energy Carolinas LLC |
| |||||||
3.95%, 11/15/2028 |
110,000 | 107,556 | ||||||
Enel Finance International NV |
||||||||
2.25%, 07/12/2031 (A) (C) |
200,000 | 155,655 | ||||||
NextEra Energy Capital Holdings, Inc. |
| |||||||
3.55%, 05/01/2027 |
120,000 | 115,009 | ||||||
Niagara Mohawk Power Corp. |
| |||||||
1.96%, 06/27/2030 (A) |
70,000 | 57,253 | ||||||
Northern States Power Co. |
| |||||||
2.60%, 06/01/2051 |
70,000 | 47,561 | ||||||
Pattern Energy Operations LP / Pattern Energy Operations, Inc. |
||||||||
4.50%, 08/15/2028 (A) |
91,000 | 83,493 | ||||||
Southern Power Co. |
| |||||||
0.90%, 01/15/2026 |
130,000 | 116,653 | ||||||
|
|
|||||||
683,180 | ||||||||
|
|
|||||||
Electrical Equipment - 0.3% | ||||||||
Eaton Corp. |
| |||||||
4.15%, 03/15/2033 |
70,000 | 67,479 | ||||||
|
|
|||||||
Energy Equipment & Services - 1.0% | ||||||||
Investment Energy Resources Ltd. |
| |||||||
6.25%, 04/26/2029 (A) |
200,000 | 190,913 | ||||||
Sunnova Energy Corp. |
| |||||||
5.88%, 09/01/2026 (A) (C) |
21,000 | 18,875 | ||||||
|
|
|||||||
209,788 | ||||||||
|
|
|||||||
Equity Real Estate Investment Trusts - 4.6% | ||||||||
American Tower Corp. |
| |||||||
3.60%, 01/15/2028 |
80,000 | 75,078 | ||||||
Crown Castle, Inc. |
| |||||||
2.90%, 04/01/2041 |
80,000 | 58,439 | ||||||
3.30%, 07/01/2030 |
50,000 | 45,345 | ||||||
Digital Realty Trust LP |
| |||||||
3.70%, 08/15/2027 |
140,000 | 132,960 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC |
||||||||
6.00%, 04/15/2025 (A) |
197,000 | 192,648 | ||||||
Healthpeak Properties, Inc. |
| |||||||
3.50%, 07/15/2029 |
90,000 | 82,574 | ||||||
Prologis LP |
| |||||||
4.63%, 01/15/2033 |
141,000 | 141,763 | ||||||
SBA Tower Trust |
| |||||||
6.60%, 01/15/2028 (A) |
80,000 | 83,210 | ||||||
UDR, Inc. |
| |||||||
3.10%, 11/01/2034 |
80,000 | 65,208 | ||||||
Ventas Realty LP |
| |||||||
3.50%, 02/01/2025 |
130,000 | 125,905 | ||||||
|
|
|||||||
1,003,130 | ||||||||
|
|
|||||||
Food & Staples Retailing - 2.5% | ||||||||
Alimentation Couche-Tard, Inc. |
| |||||||
3.63%, 05/13/2051 (A) |
131,000 | 93,557 | ||||||
InRetail Consumer |
| |||||||
3.25%, 03/22/2028 (A) |
200,000 | 172,708 | ||||||
Sysco Corp. |
| |||||||
3.30%, 07/15/2026 |
140,000 | 134,507 | ||||||
3.30%, 02/15/2050 (C) |
70,000 | 51,400 |
Transamerica Funds |
Page 2 |
Transamerica Sustainable Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Food & Staples Retailing (continued) | ||||||||
Walmart, Inc. |
| |||||||
1.80%, 09/22/2031 |
$ 102,000 | $ 85,534 | ||||||
|
|
|||||||
537,706 | ||||||||
|
|
|||||||
Food Products - 0.9% | ||||||||
Danone SA |
| |||||||
2.95%, 11/02/2026 (A) |
200,000 | 188,850 | ||||||
|
|
|||||||
Health Care Equipment & Supplies - 0.3% | ||||||||
Koninklijke Philips NV |
| |||||||
6.88%, 03/11/2038 |
60,000 | 68,803 | ||||||
|
|
|||||||
Household Durables - 0.9% | ||||||||
Century Communities, Inc. |
| |||||||
6.75%, 06/01/2027 |
56,000 | 55,227 | ||||||
D.R. Horton, Inc. |
| |||||||
2.60%, 10/15/2025 |
70,000 | 65,878 | ||||||
Meritage Homes Corp. |
| |||||||
5.13%, 06/06/2027 |
66,000 | 63,195 | ||||||
|
|
|||||||
184,300 | ||||||||
|
|
|||||||
Household Products - 0.7% | ||||||||
Kimberly-Clark Corp. |
| |||||||
3.10%, 03/26/2030 |
80,000 | 73,881 | ||||||
Procter & Gamble Co. |
| |||||||
2.45%, 11/03/2026 |
80,000 | 75,219 | ||||||
|
|
|||||||
149,100 | ||||||||
|
|
|||||||
Independent Power & Renewable Electricity Producers - 0.1% | ||||||||
Clearway Energy Operating LLC |
| |||||||
3.75%, 02/15/2031 (A) |
30,000 | 25,289 | ||||||
|
|
|||||||
Interactive Media & Services - 0.1% | ||||||||
Alphabet, Inc. |
| |||||||
1.10%, 08/15/2030 |
40,000 | 32,396 | ||||||
|
|
|||||||
IT Services - 0.2% | ||||||||
International Business Machines Corp. |
| |||||||
3.30%, 01/27/2027 |
35,000 | 33,569 | ||||||
|
|
|||||||
Life Sciences Tools & Services - 0.4% | ||||||||
Danaher Corp. |
| |||||||
3.35%, 09/15/2025 |
80,000 | 77,838 | ||||||
|
|
|||||||
Metals & Mining - 0.4% | ||||||||
Big River Steel LLC / BRS Finance Corp. |
| |||||||
6.63%, 01/31/2029 (A) |
90,000 | 88,268 | ||||||
|
|
|||||||
Multi-Utilities - 0.4% | ||||||||
Public Service Co. of Colorado |
| |||||||
4.10%, 06/15/2048 |
110,000 | 96,681 | ||||||
|
|
|||||||
Personal Products - 1.2% | ||||||||
Natura Cosmeticos SA |
| |||||||
4.13%, 05/03/2028 (A) (C) |
200,000 | 165,027 | ||||||
Unilever Capital Corp. |
| |||||||
2.00%, 07/28/2026 |
100,000 | 92,354 | ||||||
|
|
|||||||
257,381 | ||||||||
|
|
|||||||
Pharmaceuticals - 1.2% | ||||||||
AstraZeneca PLC |
| |||||||
4.00%, 01/17/2029 |
60,000 | 59,264 | ||||||
Eli Lilly & Co. |
| |||||||
2.75%, 06/01/2025 |
40,000 | 38,493 | ||||||
GlaxoSmithKline Capital, Inc. |
| |||||||
3.63%, 05/15/2025 |
40,000 | 39,360 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Pharmaceuticals (continued) | ||||||||
Merck & Co., Inc. |
| |||||||
3.70%, 02/10/2045 |
$ 40,000 | $ 35,156 | ||||||
Pfizer, Inc. |
| |||||||
4.20%, 09/15/2048 |
40,000 | 37,777 | ||||||
Sanofi |
| |||||||
3.38%, 06/19/2023 |
40,000 | 39,737 | ||||||
|
|
|||||||
249,787 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment - 0.7% | ||||||||
Intel Corp. |
| |||||||
3.73%, 12/08/2047 |
140,000 | 110,703 | ||||||
NXP BV / NXP Funding LLC / NXP USA, Inc. |
| |||||||
3.40%, 05/01/2030 |
50,000 | 44,682 | ||||||
|
|
|||||||
155,385 | ||||||||
|
|
|||||||
Software - 0.6% | ||||||||
Microsoft Corp. |
| |||||||
3.30%, 02/06/2027 |
130,000 | 126,285 | ||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals - 0.9% | ||||||||
Dell International LLC / EMC Corp. |
| |||||||
6.02%, 06/15/2026 |
70,000 | 71,914 | ||||||
6.20%, 07/15/2030 |
70,000 | 73,444 | ||||||
Hewlett Packard Enterprise Co. |
| |||||||
4.90%, 10/15/2025 |
40,000 | 39,938 | ||||||
|
|
|||||||
185,296 | ||||||||
|
|
|||||||
Trading Companies & Distributors - 0.4% | ||||||||
Boise Cascade Co. |
| |||||||
4.88%, 07/01/2030 (A) |
92,000 | 82,663 | ||||||
|
|
|||||||
Water Utilities - 0.5% | ||||||||
American Water Capital Corp. |
| |||||||
3.45%, 06/01/2029 |
110,000 | 102,815 | ||||||
|
|
|||||||
Wireless Telecommunication Services - 1.3% | ||||||||
Empresa Nacional de Telecomunicaciones SA |
| |||||||
3.05%, 09/14/2032 (A) |
150,000 | 122,250 | ||||||
Vmed O2 Financing I PLC |
||||||||
4.75%, 07/15/2031 (A) |
200,000 | 170,004 | ||||||
|
|
|||||||
292,254 | ||||||||
|
|
|||||||
Total Corporate Debt Securities |
|
9,660,658 | ||||||
|
|
|||||||
FOREIGN GOVERNMENT OBLIGATIONS - 1.9% | ||||||||
Chile - 0.8% | ||||||||
Chile Government International Bonds |
| |||||||
4.34%, 03/07/2042 |
200,000 | 177,010 | ||||||
|
|
|||||||
Colombia - 0.4% | ||||||||
Colombia Government International Bonds |
| |||||||
7.38%, 09/18/2037 |
100,000 | 96,798 | ||||||
|
|
|||||||
Panama - 0.3% | ||||||||
Panama Government International Bonds |
| |||||||
6.70%, 01/26/2036 |
53,000 | 57,216 | ||||||
|
|
|||||||
Republic of South Africa - 0.4% | ||||||||
Republic of South Africa Government International Bonds |
| |||||||
6.25%, 03/08/2041 (C) |
100,000 | 88,147 | ||||||
|
|
|||||||
Total Foreign Government Obligations |
|
419,171 | ||||||
|
|
Transamerica Funds |
Page 3 |
Transamerica Sustainable Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
Principal | Value | |||||||
LOAN ASSIGNMENTS - 1.1% | ||||||||
Commercial Services & Supplies - 0.2% | ||||||||
GFL Environmental, Inc. |
||||||||
Term Loan, |
||||||||
3-Month LIBOR + 3.00%, |
$ 39,529 | $ 39,595 | ||||||
|
|
|||||||
Communications Equipment - 0.5% | ||||||||
CommScope, Inc. |
||||||||
Term Loan B, |
||||||||
1-Month LIBOR + 3.25%, |
108,046 | 105,513 | ||||||
|
|
|||||||
Machinery - 0.4% | ||||||||
Vertiv Group Corp. |
||||||||
Term Loan B, |
||||||||
1-Month LIBOR + 2.75%, |
87,978 | 87,517 | ||||||
|
|
|||||||
Total Loan Assignments |
|
232,625 | ||||||
|
|
|||||||
MORTGAGE-BACKED SECURITIES - 6.3% | ||||||||
280 Park Avenue Mortgage Trust |
||||||||
Series 2017-280P, Class E, |
||||||||
1-Month LIBOR + 2.12%, |
145,000 | 132,042 | ||||||
Benchmark Mortgage Trust |
||||||||
Series 2020-IG3, Class B, |
||||||||
3.29% (B), 09/15/2048 (A) |
175,000 | 140,529 | ||||||
CAMB Commercial Mortgage Trust |
||||||||
Series 2019-LIFE, Class D, |
||||||||
1-Month LIBOR + 1.75%, |
115,000 | 113,087 | ||||||
Eleven Madison Mortgage Trust |
||||||||
Series 2015-11MD, Class A, |
||||||||
3.55% (B), 09/10/2035 (A) |
143,000 | 133,862 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust |
||||||||
Series 2019-OSB, Class C, |
||||||||
3.75% (B), 06/05/2039 (A) |
174,000 | 151,775 | ||||||
Series 2022-OPO, Class C, |
||||||||
3.45% (B), 01/05/2039 (A) |
140,000 | 111,215 | ||||||
Manhattan West Mortgage Trust |
||||||||
Series 2020-1MW, Class B, |
||||||||
2.34% (B), 09/10/2039 (A) |
185,000 | 160,808 | ||||||
SLG Office Trust |
||||||||
Series 2021-OVA, Class D, |
||||||||
2.85%, 07/15/2041 (A) |
130,000 | 100,307 | ||||||
Towd Point Mortgage Trust |
||||||||
Series 2019-4, Class A1, |
||||||||
2.90% (B), 10/25/2059 (A) |
135,366 | 126,077 | ||||||
Series 2023-1, Class A1, |
||||||||
3.75%, 01/25/2063 (A) |
190,000 | 181,127 | ||||||
|
|
|||||||
Total Mortgage-Backed Securities |
|
1,350,829 | ||||||
|
|
|||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS - 19.1% | ||||||||
Federal Home Loan Bank Discount Notes |
||||||||
4.23%, 02/06/2023 |
750,000 | 749,533 | ||||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates |
||||||||
3.51%, 03/25/2029 |
225,000 | 218,368 | ||||||
3.90%, 04/25/2028 |
418,000 | 415,477 |
Principal | Value | |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued) | ||||||||
Federal National Mortgage Association |
||||||||
0.88%, 08/05/2030 (C) |
$ 239,000 | $ 195,383 | ||||||
Uniform Mortgage-Backed Security |
||||||||
2.00%, TBA (F) |
800,000 | 672,656 | ||||||
2.50%, TBA (F) |
1,280,000 | 1,144,619 | ||||||
3.00%, TBA (F) |
400,000 | 362,835 | ||||||
3.50%, TBA (F) |
400,000 | 374,867 | ||||||
|
|
|||||||
Total U.S. Government Agency Obligations |
|
4,133,738 | ||||||
|
|
|||||||
U.S. GOVERNMENT OBLIGATIONS - 13.8% | ||||||||
U.S. Treasury - 13.8% | ||||||||
U.S. Treasury Bonds |
||||||||
1.75%, 08/15/2041 |
110,000 | 79,810 | ||||||
2.00%, 08/15/2051 |
1,074,000 | 755,114 | ||||||
2.25%, 02/15/2052 |
194,000 | 144,575 | ||||||
2.88%, 05/15/2052 |
814,000 | 695,970 | ||||||
3.38%, 08/15/2042 |
200,000 | 188,344 | ||||||
U.S. Treasury Notes |
||||||||
2.88%, 05/15/2032 |
139,000 | 132,007 | ||||||
4.13%, 11/15/2032 |
940,000 | 986,119 | ||||||
|
|
|||||||
Total U.S. Government Obligations |
|
2,981,939 | ||||||
|
|
|||||||
COMMERCIAL PAPER - 4.6% | ||||||||
Banks - 4.6% | ||||||||
DNB Bank ASA |
||||||||
4.69% (G), 04/10/2023 |
1,000,000 | 991,342 | ||||||
|
|
|||||||
Total Commercial Paper |
|
991,342 | ||||||
|
|
|||||||
SHORT-TERM U.S. GOVERNMENT AGENCY OBLIGATION - 4.6% | ||||||||
Federal Home Loan Bank Discount Notes |
||||||||
4.27% (G), 02/03/2023 |
1,000,000 | 999,745 | ||||||
|
|
|||||||
Total Short-Term U.S. Government Agency Obligation |
|
999,745 | ||||||
|
|
|||||||
Shares | Value | |||||||
OTHER INVESTMENT COMPANY - 2.8% | ||||||||
Securities Lending Collateral - 2.8% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 4.30% (G) |
606,659 | 606,659 | ||||||
|
|
|||||||
Total Other Investment Company |
|
606,659 | ||||||
|
|
|||||||
Total Investments |
|
24,449,978 | ||||||
Net Other Assets (Liabilities) - (13.0)% |
(2,809,303 | ) | ||||||
|
|
|||||||
Net Assets - 100.0% |
$ 21,640,675 | |||||||
|
|
Transamerica Funds |
Page 4 |
Transamerica Sustainable 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 |
$ | | $ | 3,073,272 | $ | | $ | 3,073,272 | ||||||||
Corporate Debt Securities |
| 9,660,658 | | 9,660,658 | ||||||||||||
Foreign Government Obligations |
| 419,171 | | 419,171 | ||||||||||||
Loan Assignments |
| 232,625 | | 232,625 | ||||||||||||
Mortgage-Backed Securities |
| 1,350,829 | | 1,350,829 | ||||||||||||
U.S. Government Agency Obligations |
| 4,133,738 | | 4,133,738 | ||||||||||||
U.S. Government Obligations |
| 2,981,939 | | 2,981,939 | ||||||||||||
Commercial Paper |
| 991,342 | | 991,342 | ||||||||||||
Short-Term U.S. Government Agency Obligation |
| 999,745 | | 999,745 | ||||||||||||
Other Investment Company |
606,659 | | | 606,659 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments |
$ | 606,659 | $ | 23,843,319 | $ | | $ | 24,449,978 | ||||||||
|
|
|
|
|
|
|
|
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 $7,915,127, representing 36.6% of the Funds 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 $684,852, collateralized by cash collateral of $606,659 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $92,500. 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) | Securities are exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At January 31, 2023, the total value of Regulation S securities is $375,659, representing 1.7% of the Funds net assets. | |
(E) | Perpetual maturity. The date displayed is the next call date. | |
(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 | |
TBA |
To Be Announced |
Transamerica Funds |
Page 5 |
Transamerica Sustainable Bond
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2023
(unaudited)
INVESTMENT VALUATION
Transamerica Sustainable Bond (the Fund) is a series of the Transamerica Funds.
Effective September 8, 2022, TAM has been designated as the Funds valuation designee pursuant to Rule 2a-5 under the 1940 Act with responsibility for fair valuation subject to oversight by the Funds 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 TAMs own assumptions used in determining the fair value of the Funds 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 Funds 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 Funds significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:
Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.
Corporate debt securities: The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.
Foreign government obligations: Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.
Loan assignments: Loan assignments are normally valued using an income approach, which projects future cash flows and converts those future cash flows to a present value using a discount rate. The resulting present value reflects the likely fair value of the loan. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise are categorized in Level 3.
Transamerica Funds |
Page 6 |
Transamerica Sustainable Bond
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.
U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (TBA) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.
U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.
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.
Transamerica Funds |
Page 7 |