NPORT-EX 2 NPORT_I0DE_52104116_0123.htm FOR VALIDATION PURPOSES ONLY - [447377.I0DE]

Transamerica Large Core

 

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS - 98.0%  
Aerospace & Defense - 1.5%  

Boeing Co. (A)

      2,574        $  548,262  

General Dynamics Corp.

      268        62,460  

Lockheed Martin Corp.

      2,444        1,132,207  

Textron, Inc.

      4,315        314,348  

TransDigm Group, Inc.

      736        528,264  
     

 

 

  
        2,585,541  
     

 

 

  
Air Freight & Logistics - 0.9%  

Expeditors International of Washington, Inc.

      2,484        268,645  

United Parcel Service, Inc., Class B

      7,062        1,308,094  
     

 

 

  
        1,576,739  
     

 

 

  
Airlines - 0.3%  

Delta Air Lines, Inc. (A)

      3,961        154,875  

Southwest Airlines Co.

      4,447        159,069  

United Airlines Holdings, Inc. (A)

      2,371        116,084  
     

 

 

  
        430,028  
     

 

 

  
Auto Components - 0.4%  

BorgWarner, Inc.

      12,590        595,255  
     

 

 

  
Automobiles - 1.5%  

Ford Motor Co.

      12,964        175,144  

General Motors Co.

      2,867        112,730  

Tesla, Inc. (A)

      13,243        2,293,953  
     

 

 

  
        2,581,827  
     

 

 

  
Banks - 4.2%  

Bank of America Corp.

      12,185        432,324  

Comerica, Inc.

      7,275        533,330  

JPMorgan Chase & Co.

      17,527        2,453,079  

M&T Bank Corp.

      1,016        158,496  

PNC Financial Services Group, Inc.

      2,645        437,562  

Regions Financial Corp.

      31,560        742,923  

Signature Bank

      658        84,849  

Truist Financial Corp.

      14,301        706,326  

US Bancorp

      27,891        1,388,972  

Wells Fargo & Co.

      3,924        183,918  
     

 

 

  
        7,121,779  
     

 

 

  
Beverages - 1.8%  

Brown-Forman Corp., Class B

      6,517        433,902  

Coca-Cola Co.

      25,792        1,581,566  

PepsiCo, Inc.

      6,272        1,072,637  
     

 

 

  
        3,088,105  
     

 

 

  
Biotechnology - 2.5%  

AbbVie, Inc.

      7,769        1,147,870  

Amgen, Inc.

      4,372        1,103,493  

Biogen, Inc. (A)

      437        127,123  

Incyte Corp. (A)

      2,240        190,714  

Moderna, Inc. (A)

      2,002        352,472  

Regeneron Pharmaceuticals, Inc. (A)

      775        587,814  

Vertex Pharmaceuticals, Inc. (A)

      2,409        778,348  
     

 

 

  
        4,287,834  
     

 

 

  
Building Products - 0.1%  

Carrier Global Corp.

      4,486        204,248  
     

 

 

  
     Shares      Value  
COMMON STOCKS (continued)  
Capital Markets - 2.0%  

Ameriprise Financial, Inc.

      3,688        $   1,291,243  

BlackRock, Inc.

      162        122,992  

Charles Schwab Corp.

      16,136        1,249,249  

FactSet Research Systems, Inc.

      434        183,556  

Morgan Stanley

      2,029        197,483  

Raymond James Financial, Inc.

      2,881        324,890  
     

 

 

  
        3,369,413  
     

 

 

  
Chemicals - 1.3%  

Albemarle Corp.

      761        214,184  

CF Industries Holdings, Inc.

      3,633        307,715  

Dow, Inc.

      10,601        629,169  

Linde PLC

      944        312,407  

LyondellBasell Industries NV, Class A

      3,975        384,343  

Mosaic Co.

      8,061        399,342  
     

 

 

  
        2,247,160  
     

 

 

  
Commercial Services & Supplies - 1.0%  

Cintas Corp.

      1,086        481,902  

Copart, Inc. (A)

      3,747        249,588  

Republic Services, Inc.

      505        63,034  

Waste Management, Inc.

      5,624        870,201  
     

 

 

  
        1,664,725  
     

 

 

  
Communications Equipment - 1.0%  

Arista Networks, Inc. (A)

      1,550        195,331  

Cisco Systems, Inc.

      30,620        1,490,275  

F5, Inc. (A)

      42        6,202  
     

 

 

  
        1,691,808  
     

 

 

  
Consumer Finance - 1.2%  

American Express Co.

      5,918        1,035,236  

Capital One Financial Corp.

      2,148        255,612  

Discover Financial Services

      4,812        561,705  

Synchrony Financial

      2,872        105,488  
     

 

 

  
        1,958,041  
     

 

 

  
Containers & Packaging - 0.6%  

Amcor PLC

      6,662        80,344  

Avery Dennison Corp.

      661        125,220  

Ball Corp.

      5,893        343,208  

International Paper Co.

      4,138        173,051  

Packaging Corp. of America

      1,742        248,583  

Westrock Co.

      2,565        100,651  
     

 

 

  
        1,071,057  
     

 

 

  
Distributors - 0.4%  

LKQ Corp.

      10,802        636,886  
     

 

 

  
Diversified Financial Services - 1.8%  

Berkshire Hathaway, Inc., Class B (A)

      9,386        2,923,927  

Intercontinental Exchange, Inc.

      887        95,397  
     

 

 

  
        3,019,324  
     

 

 

  
Diversified Telecommunication Services - 0.6%  

AT&T, Inc.

      9,788        199,382  

Lumen Technologies, Inc.

      10,894        57,193  

Verizon Communications, Inc.

      19,671        817,723  
     

 

 

  
        1,074,298  
     

 

 

  
Electric Utilities - 1.3%  

Constellation Energy Corp.

      2,321          198,121  

Edison International

      7,485        515,716  

Entergy Corp.

      2,182        236,267  
 

 

Transamerica Funds

     Page    1         

Transamerica Large Core

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Electric Utilities (continued)  

Exelon Corp.

      11,242        $   474,300  

NextEra Energy, Inc.

      6,857        511,738  

PG&E Corp. (A)

      13,193        209,769  
     

 

 

  
        2,145,911  
     

 

 

  
Electronic Equipment, Instruments & Components - 1.0%  

Amphenol Corp., Class A

      12,198        973,034  

Keysight Technologies, Inc. (A)

      1,535        275,302  

TE Connectivity Ltd.

      1,331        169,237  

Teledyne Technologies, Inc. (A)

      453        192,190  
     

 

 

  
        1,609,763  
     

 

 

  
Energy Equipment & Services - 0.2%  

Baker Hughes Co.

      1,949        61,861  

Halliburton Co.

      4,345        179,101  

Schlumberger Ltd.

      2,226        126,838  
     

 

 

  
        367,800  
     

 

 

  
Entertainment - 1.5%  

Electronic Arts, Inc.

      6,388        822,008  

Live Nation Entertainment, Inc. (A)

      3,141        252,819  

Netflix, Inc. (A)

      2,070        732,490  

Walt Disney Co. (A)

      7,083        768,435  
     

 

 

  
        2,575,752  
     

 

 

  
Equity Real Estate Investment Trusts - 3.0%  

AvalonBay Communities, Inc.

      1,976        350,622  

Boston Properties, Inc.

      4,263        317,764  

Equinix, Inc.

      189        139,507  

Equity Residential

      10,434        664,124  

Essex Property Trust, Inc.

      404        91,332  

Healthpeak Properties, Inc.

      9,700        266,556  

Host Hotels & Resorts, Inc.

      33,748        636,150  

Prologis, Inc.

      2,536        327,854  

Public Storage

      4,101        1,248,098  

Regency Centers Corp.

      5,267        350,940  

Simon Property Group, Inc.

      4,803        616,993  
     

 

 

  
        5,009,940  
     

 

 

  
Food & Staples Retailing - 1.3%  

Costco Wholesale Corp.

      1,783        911,362  

Kroger Co.

      12,368        551,984  

Sysco Corp.

      4,007        310,382  

Walmart, Inc.

      2,410        346,727  
     

 

 

  
        2,120,455  
     

 

 

  
Food Products - 0.9%  

Archer-Daniels-Midland Co.

      3,661        303,314  

General Mills, Inc.

      5,487        429,961  

Hershey Co.

      1,905        427,863  

Tyson Foods, Inc., Class A

      4,286        281,805  
     

 

 

  
        1,442,943  
     

 

 

  
Health Care Equipment & Supplies - 2.0%  

Abbott Laboratories

      5,405        597,523  

Becton Dickinson & Co.

      641        161,673  

DENTSPLY SIRONA, Inc.

      7,097        261,383  

Dexcom, Inc. (A)

      2,208          236,455  

Edwards Lifesciences Corp. (A)

      4,017        308,104  

GE HealthCare Technologies, Inc. (A)

      2,440        169,629  

Hologic, Inc. (A)

      5,111        415,882  

Intuitive Surgical, Inc. (A)

      258        63,388  
     Shares      Value  
COMMON STOCKS (continued)  
Health Care Equipment & Supplies (continued)  

Medtronic PLC

      12,734        $   1,065,708  

ResMed, Inc.

      631        144,101  
     

 

 

  
        3,423,846  
     

 

 

  
Health Care Providers & Services - 4.2%  

AmerisourceBergen Corp.

      1,270        214,579  

Cardinal Health, Inc.

      2,029        156,740  

Centene Corp. (A)

      3,623        276,218  

Cigna Corp.

      1,112        352,137  

CVS Health Corp.

      11,037        973,684  

DaVita, Inc. (A)

      1,154        95,078  

Elevance Health, Inc.

      1,993        996,480  

HCA Healthcare, Inc.

      827        210,943  

Humana, Inc.

      532        272,224  

McKesson Corp.

      612        231,752  

Molina Healthcare, Inc. (A)

      1,132        352,992  

UnitedHealth Group, Inc.

      5,951        2,970,680  
     

 

 

  
        7,103,507  
     

 

 

  
Hotels, Restaurants & Leisure - 2.6%  

Booking Holdings, Inc. (A)

      422        1,027,190  

Caesars Entertainment, Inc. (A)

      1,218        63,409  

Chipotle Mexican Grill, Inc. (A)

      186        306,227  

Darden Restaurants, Inc.

      1,361        201,387  

Expedia Group, Inc. (A)

      2,354        269,062  

Hilton Worldwide Holdings, Inc.

      3,408        494,467  

Marriott International, Inc., Class A

      5,408        941,966  

McDonald’s Corp.

      1,768        472,763  

Starbucks Corp.

      5,364        585,427  
     

 

 

  
        4,361,898  
     

 

 

  
Household Products - 1.6%  

Clorox Co.

      666        96,364  

Colgate-Palmolive Co.

      4,991        371,979  

Kimberly-Clark Corp.

      2,553        331,916  

Procter & Gamble Co.

      13,209        1,880,697  
     

 

 

  
        2,680,956  
     

 

 

  
Independent Power & Renewable Electricity Producers - 0.2%  

AES Corp.

      10,353        283,776  
     

 

 

  
Industrial Conglomerates - 1.0%  

3M Co.

      10,118        1,164,379  

General Electric Co.

      7,321        589,194  
     

 

 

  
        1,753,573  
     

 

 

  
Insurance - 2.4%  

Aflac, Inc.

      3        220  

American International Group, Inc.

      7,999        505,697  

Aon PLC, Class A

      594        189,296  

Arch Capital Group Ltd. (A)

      5,828        375,032  

Everest Re Group Ltd.

      1,271        444,456  

Marsh & McLennan Cos., Inc.

      6,316        1,104,732  

MetLife, Inc.

      7,777        567,876  

Progressive Corp.

      6,462        881,094  
     

 

 

  
        4,068,403  
     

 

 

  
Interactive Media & Services - 4.4%  

Alphabet, Inc., Class A (A)

      28,390        2,806,067  

Alphabet, Inc., Class C (A)

      27,710        2,767,398  

Match Group, Inc. (A)

      3,066        165,932  

Meta Platforms, Inc., Class A (A)

      11,592        1,726,860  
     

 

 

  
        7,466,257  
     

 

 

  
 

 

Transamerica Funds

     Page    2         

Transamerica Large Core

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Internet & Direct Marketing Retail - 2.5%  

Amazon.com, Inc. (A)

      38,579        $   3,978,652  

eBay, Inc.

      4,129        204,385  

Etsy, Inc. (A)

      670        92,179  
     

 

 

  
        4,275,216  
     

 

 

  
IT Services - 4.5%  

Accenture PLC, Class A

      2,639        736,413  

Automatic Data Processing, Inc.

      2,056        464,265  

Cognizant Technology Solutions Corp., Class A

      1,417        94,585  

EPAM Systems, Inc. (A)

      791        263,126  

Fiserv, Inc. (A)

      1,404        149,779  

FleetCor Technologies, Inc. (A)

      823        171,851  

Gartner, Inc. (A)

      1,218        411,855  

International Business Machines Corp.

      487        65,613  

Mastercard, Inc., Class A

      5,751        2,131,321  

Paychex, Inc.

      4,377        507,119  

PayPal Holdings, Inc. (A)

      7,074        576,460  

VeriSign, Inc. (A)

      479        104,446  

Visa, Inc., Class A (B)

      8,135        1,872,758  
     

 

 

  
        7,549,591  
     

 

 

  
Life Sciences Tools & Services - 1.8%  

Agilent Technologies, Inc.

      2,616        397,841  

Danaher Corp.

      961        254,069  

IQVIA Holdings, Inc. (A)

      801        183,758  

Mettler-Toledo International, Inc. (A)

      354        542,654  

Thermo Fisher Scientific, Inc.

      2,340        1,334,572  

Waters Corp. (A)

      402        132,089  

West Pharmaceutical Services, Inc.

      758        201,325  
     

 

 

  
        3,046,308  
     

 

 

  
Machinery - 0.9%  

Cummins, Inc.

      499        124,520  

Nordson Corp.

      2,506        609,710  

PACCAR, Inc.

      2,617        286,064  

Snap-on, Inc.

      1,378        342,750  

Westinghouse Air Brake Technologies Corp.

      1,526        158,414  
     

 

 

  
        1,521,458  
     

 

 

  
Media - 1.1%  

Charter Communications, Inc., Class A (A)

      1,665        639,876  

Comcast Corp., Class A

      17,929        705,506  

Fox Corp., Class A

      13,036        442,442  
     

 

 

  
        1,787,824  
     

 

 

  
Metals & Mining - 0.4%  

Freeport-McMoRan, Inc.

      6,758        301,542  

Nucor Corp.

      2,375        401,422  
     

 

 

  
        702,964  
     

 

 

  
Multi-Utilities - 1.0%  

Consolidated Edison, Inc.

      5,006        477,122  

DTE Energy Co.

      8,106        943,295  

Sempra Energy

      1,634        261,979  
     

 

 

  
        1,682,396  
     

 

 

  
Multiline Retail - 0.3%  

Target Corp.

      2,554        439,646  
     

 

 

  
Oil, Gas & Consumable Fuels - 5.0%  

Chevron Corp.

      8,409          1,463,334  

ConocoPhillips

      4,982        607,156  
     Shares      Value  
COMMON STOCKS (continued)  
Oil, Gas & Consumable Fuels (continued)  

Coterra Energy, Inc.

      2,765        $   69,208  

Devon Energy Corp.

      2,060        130,274  

Diamondback Energy, Inc.

      653        95,416  

EOG Resources, Inc.

      2,065        273,096  

EQT Corp.

      1,918        62,661  

Exxon Mobil Corp.

      22,769        2,641,432  

Marathon Oil Corp.

      5,333        146,498  

Marathon Petroleum Corp.

      5,082        653,139  

Occidental Petroleum Corp.

      3,297        213,613  

ONEOK, Inc.

      10,836        742,049  

Phillips 66

      2,716        272,333  

Pioneer Natural Resources Co.

      2,333        537,407  

Valero Energy Corp.

      2,728        382,002  

Williams Cos., Inc.

      4,071        131,249  
     

 

 

  
        8,420,867  
     

 

 

  
Personal Products - 0.1%  

Estee Lauder Cos., Inc., Class A

      755        209,195  
     

 

 

  
Pharmaceuticals - 3.4%  

Bristol-Myers Squibb Co.

      15,626        1,135,229  

Eli Lilly & Co.

      1,864        641,495  

Johnson & Johnson

      10,200        1,666,884  

Merck & Co., Inc.

      5,836        626,845  

Pfizer, Inc.

      32,630        1,440,941  

Viatris, Inc.

      12,063        146,686  
     

 

 

  
        5,658,080  
     

 

 

  
Professional Services - 0.2%  

Robert Half International, Inc.

      3,568        299,569  
     

 

 

  
Road & Rail - 0.9%  

Old Dominion Freight Line, Inc.

      1,105        368,230  

Union Pacific Corp.

      5,917        1,208,192  
     

 

 

  
        1,576,422  
     

 

 

  
Semiconductors & Semiconductor Equipment - 5.5%  

Advanced Micro Devices, Inc. (A)

      4,700        353,205  

Analog Devices, Inc.

      3,886        666,333  

Applied Materials, Inc.

      4,739        528,351  

Broadcom, Inc.

      3,486        2,039,345  

Enphase Energy, Inc. (A)

      771        170,684  

Lam Research Corp.

      402        201,040  

Microchip Technology, Inc.

      6,047        469,368  

Micron Technology, Inc.

      3,396        204,779  

NVIDIA Corp.

      10,490        2,049,431  

NXP Semiconductors NV

      1,194        220,066  

ON Semiconductor Corp. (A)

      2,411        177,088  

QUALCOMM, Inc.

      4,862        647,667  

Teradyne, Inc.

      4,443        451,853  

Texas Instruments, Inc.

      5,759        1,020,552  
     

 

 

  
        9,199,762  
     

 

 

  
Software - 7.6%  

Adobe, Inc. (A)

      2,748        1,017,694  

ANSYS, Inc. (A)

      355        94,558  

Autodesk, Inc. (A)

      1,110        238,828  

Cadence Design Systems, Inc. (A)

      3,235        591,455  

Fortinet, Inc. (A)

      7,085          370,829  

Microsoft Corp.

      34,816        8,627,753  

Salesforce, Inc. (A)

      3,590        603,012  

ServiceNow, Inc. (A)

      916        416,899  

Synopsys, Inc. (A)

      2,169        767,284  
     

 

 

  
        12,728,312  
     

 

 

  
 

 

Transamerica Funds

     Page    3         

Transamerica Large Core

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Specialty Retail - 2.6%  

AutoZone, Inc. (A)

      204        $   497,525  

Bath & Body Works, Inc.

      1,543        70,993  

Home Depot, Inc.

      5,039        1,633,493  

Lowe’s Cos., Inc.

      4,026        838,414  

O’Reilly Automotive, Inc. (A)

      845        669,536  

TJX Cos., Inc.

      879        71,955  

Ulta Beauty, Inc. (A)

      987        507,279  
     

 

 

  
        4,289,195  
     

 

 

  
Technology Hardware, Storage & Peripherals - 6.8%  

Apple, Inc.

      76,537        11,043,524  

Hewlett Packard Enterprise Co.

      4,264        68,778  

NetApp, Inc.

      3,302        218,692  

Western Digital Corp. (A)

      2,619        115,105  
     

 

 

  
        11,446,099  
     

 

 

  
Textiles, Apparel & Luxury Goods - 0.6%  

NIKE, Inc., Class B

      817        104,029  

Ralph Lauren Corp.

      2,103        260,456  

Tapestry, Inc.

      14,638        667,054  
     

 

 

  
        1,031,539  
     

 

 

  
Tobacco - 0.8%  

Altria Group, Inc.

      15,034        677,132  

Philip Morris International, Inc.

      6,214        647,747  
     

 

 

  
        1,324,879  
     

 

 

  
     Shares      Value  
COMMON STOCKS (continued)  
Trading Companies & Distributors - 1.0%  

Fastenal Co.

      11,294        $   570,911  

United Rentals, Inc. (A)

      1,405        619,535  

WW Grainger, Inc.

      948        558,827  
     

 

 

  
        1,749,273  
     

 

 

  
Wireless Telecommunication Services - 0.3%  

T-Mobile US, Inc. (A)

      3,758        561,107  
     

 

 

  

Total Common Stocks
(Cost $130,457,359)

 

      165,118,550  
  

 

 

  
EXCHANGE-TRADED FUND - 1.7%  
U.S. Equity Fund - 1.7%  

SPDR S&P 500 ETF Trust

      6,872        2,793,331  
     

 

 

  

Total Exchange-Traded Fund
(Cost $2,691,083)

 

      2,793,331  
  

 

 

  

Total Investments
(Cost $133,148,442)

 

      167,911,881  

Net Other Assets (Liabilities) - 0.3%

         537,989  
     

 

 

  

Net Assets - 100.0%

         $  168,449,870  
     

 

 

  
 

 

INVESTMENT VALUATION:

 

Valuation Inputs (C)

 

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

ASSETS

            

Investments

 

Common Stocks

    $ 165,118,550      $ —        $ —        $ 165,118,550  

Exchange-Traded Fund

      2,793,331        —          —          2,793,331  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $     167,911,881      $     —        $     —        $     167,911,881  
  

 

 

     

 

 

     

 

 

     

 

 

  

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      Non-income producing securities.
(B)      All or a portion of the security is on loan. The value of the security on loan is $1,853,881, collateralized by non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $1,892,455. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(C)      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.

 

Transamerica Funds

     Page    4         

Transamerica Large Core

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

 

INVESTMENT VALUATION

Transamerica Large Core (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 per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at January 31, 2023, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Fund’s significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

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

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

Exchange-traded funds (“ETF”): ETFs are stated at the last reported sale price or closing price on the day of valuation taken from the primary exchange where the ETF is principally traded. ETFs are generally categorized in Level 1 of the fair value hierarchy.

SUBSEQUENT EVENT

Effective March 1, 2023, the Fund was renamed Transamerica Large Core ESG. Also effective March 1, 2023, the Fund began to offer Class A shares and Class R shares to investors. The Fund’s principal investment strategies, principal risks, portfolio managers, investment manager and investment management and sub-advisory fee schedules remain the same.

 

Transamerica Funds

     Page    5