FOR VALIDATION PURPOSES ONLY


	Shares		Value
EXCHANGE-TRADED FUNDS - 52.4%
International Equity Funds - 22.9%
iShares Core MSCI EAFE ETF		71,926		$ 4,824,077
iShares Core MSCI Emerging Markets ETF		25,705		1,307,613
iShares Global REIT ETF		53,866		1,339,109

				7,470,799

U.S. Equity Fund - 25.4%
iShares Core S&P 500 ETF		20,265		8,274,402

U.S. Fixed Income Funds - 4.1%
iShares 0-5 Year TIPS Bond ETF		6,666		651,602
iShares Core U.S. Aggregate Bond ETF		6,800		681,496

				1,333,098

Total Exchange-Traded Funds (Cost $19,423,232)				17,078,299


INVESTMENT COMPANIES - 46.9%
International Equity Funds - 13.4%
Transamerica Emerging Markets Opportunities ^(A)		122,940		1,008,105
Transamerica International Focus ^(A)		205,657		1,680,214
Transamerica International Stock ^(A)		164,635		1,687,506

				4,375,825

International Fixed Income Fund - 1.1%
Transamerica Emerging Markets Debt ^(A)		38,239		342,235

U.S. Equity Funds - 28.1%
Transamerica Large Cap Value ^(A)		222,296		2,845,388
Transamerica Large Growth ^(A)		283,451		2,624,761
Transamerica Mid Cap Growth ^(A)		120,067		917,315


	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds (continued)
Transamerica Mid Cap Value Opportunities ^(A)		97,743		$ 1,108,411
Transamerica Small Cap Growth ^(A)		121,366		762,176
Transamerica Small Cap Value ^(A)		152,616		903,488

				9,161,539

U.S. Fixed Income Funds - 4.3%
Transamerica Bond ^(A)		132,588		1,088,544
Transamerica High Yield Bond ^(A)		40,368		323,750

				1,412,294

Total Investment Companies (Cost $20,517,293)				15,291,893


	Principal		Value
REPURCHASE AGREEMENT - 0.7%
Fixed Income Clearing Corp., 1.80%^(B), dated 01/31/2023, to be repurchased at $228,409 on 02/01/2023. Collateralized by a U.S. Government Obligation, 0.13%, due 07/15/2024, and with a value of $233,016.		$ 228,398		228,398

Total Repurchase Agreement (Cost $228,398)				228,398

Total Investments (Cost $40,168,923)				32,598,590
Net Other Assets (Liabilities) - 0.0% ^(C)				15,735

Net Assets - 100.0%				$ 32,614,325

Transamerica ClearTrack^® 2045 (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:

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.

Investment companies: Certain investment companies are valued at the NAV as the practical expedient. These investment companies are not included within the fair value hierarchy. Certain other investment companies are valued at the actively traded NAV and no valuation adjustments are applied. These investment companies are 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.


Affiliated Investments	Value October 31, 2022		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2023		Shares as of January 31, 2023		Dividend Income		Net Capital Gain Distributions
Transamerica Bond	$	1,023,106	$	10,096	$	—		$	—		$	55,342		$	1,088,544		132,588	$	10,096	$	—
Transamerica Emerging Markets Debt		301,621		4,213		—			—			36,401			342,235		38,239		4,213		—
Transamerica Emerging Markets Opportunities		814,271		26,022		(25,001	)		(10,637	)		203,450			1,008,105		122,940		26,022		—
Transamerica High Yield Bond		308,747		4,579		—			—			10,424			323,750		40,368		4,579		—
Transamerica International Focus		1,477,758		28,879		(64,916	)		(17,267	)		255,760			1,680,214		205,657		28,879		—
Transamerica International Stock		1,486,610		41,286		(89,916	)		(15,691	)		265,217			1,687,506		164,635		41,286		—
Transamerica Large Cap Value		2,750,139		156,123		(51,500	)		(4,513	)		(4,861	)		2,845,388		222,296		9,409		146,714
Transamerica Large Growth		2,522,102		32,211		—			—			70,448			2,624,761		283,451		—		32,211
Transamerica Mid Cap Growth		840,472		—		—			—			76,843			917,315		120,067		—		—
Transamerica Mid Cap Value Opportunities		1,019,264		66,873		—			—			22,274			1,108,411		97,743		11,654		55,219
Transamerica Small Cap Growth		723,647		28,002		—			—			10,527			762,176		121,366		—		28,002
Transamerica Small Cap Value		848,788		145,904		—			—			(91,204	)		903,488		152,616		18,925		126,979

Total	$	14,116,525	$	544,188	$	(231,333	)	$	(48,108	)	$	910,621		$	15,291,893		1,701,966	$	155,063	$	389,125


(B)		Rate disclosed reflects the yield at January 31, 2023.
(C)		Percentage rounds to less than 0.1% or (0.1)%.
(D)		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.


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	17,078,299	$	—	$	—	$	17,078,299
Investment Companies		15,291,893		—		—		15,291,893
Repurchase Agreement		—		228,398		—		228,398

Total Investments	$	32,370,192	$	228,398	$	—	$	32,598,590


(A)		Affiliated investment in the Class R6 shares of Transamerica Funds. The Fund’s transactions and earnings are as follows:


Transamerica Funds			Page 1


REIT		Real Estate Investment Trust


Transamerica Funds			Page 2


Transamerica Funds			Page 3