Transamerica ClearTrack^® 2020

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 45.2%
International Equity Funds - 10.1%
iShares Core MSCI EAFE ETF		24,508		$  1,643,751
iShares Core MSCI Emerging Markets ETF		5,425		275,970
iShares Global REIT ETF		33,230		826,098
				2,745,819
U.S. Equity Fund - 12.5%
iShares Core S&P 500 ETF		8,320		3,397,139
U.S. Fixed Income Funds - 22.6%
iShares 0-5 Year TIPS Bond ETF		24,236		2,369,069
iShares Core U.S. Aggregate Bond ETF		37,860		3,794,330
				6,163,399
Total Exchange-Traded Funds (Cost $14,051,553)				12,306,357
INVESTMENT COMPANIES - 53.8%
International Equity Funds - 5.1%
Transamerica Emerging Markets Opportunities (A)		33,253		272,675
Transamerica International Focus (A)		67,600		552,296
Transamerica International Stock (A)		53,890		552,371
				1,377,342
International Fixed Income Fund - 5.0%
Transamerica Emerging Markets Debt (A)		153,879		1,377,221

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds - 13.8%
Transamerica Large Cap Value (A)		91,667		$   1,173,333
Transamerica Large Growth (A)		125,299		1,160,265
Transamerica Mid Cap Growth (A)		55,668		425,302
Transamerica Mid Cap Value Opportunities (A)		37,844		429,152
Transamerica Small Cap Growth (A)		44,168		277,375
Transamerica Small Cap Value (A)		47,107		278,873
				3,744,300
U.S. Fixed Income Funds - 29.9%
Transamerica Bond (A)		757,488		6,218,976
Transamerica High Yield Bond (A)		238,282		1,911,025
				8,130,001
Total Investment Companies (Cost $17,939,447)				14,628,864
Total Investments (Cost $31,991,000)				26,935,221
Net Other Assets (Liabilities) - 1.0%				267,281
Net Assets - 100.0%				$  27,202,502

INVESTMENT VALUATION:

Valuation Inputs ^(B)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	12,306,357	$	—	$	—	$	12,306,357
Investment Companies		14,628,864		—		—		14,628,864
Total Investments	$	26,935,221	$	—	$	—	$	26,935,221

Transamerica Funds Page    1

Transamerica ClearTrack^® 2020

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

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

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	$	6,045,599	$	58,659	$	(208,000	)	$	(38,681	)	$	361,399		$	6,218,976		757,488	$	58,659	$	—
Transamerica Emerging Markets Debt		1,320,435		17,782		(115,500	)		(25,129	)		179,633			1,377,221		153,879		17,782		—
Transamerica Emerging Markets Opportunities		230,789		7,376		(20,388	)		(7,683	)		62,581			272,675		33,253		7,376		—
Transamerica High Yield Bond		1,872,142		27,192		(50,000	)		(8,953	)		70,644			1,911,025		238,282		27,192		—
Transamerica International Focus		519,623		9,862		(60,405	)		(14,788	)		98,004			552,296		67,600		9,862		—
Transamerica International Stock		545,161		14,185		(95,353	)		(17,263	)		105,641			552,371		53,890		14,185		—
Transamerica Large Cap Value		1,182,977		64,380		(70,000	)		(6,843	)		2,819			1,173,333		91,667		3,881		60,499
Transamerica Large Growth		1,129,935		14,239		(15,000	)		(18,053	)		49,144			1,160,265		125,299		—		14,239
Transamerica Mid Cap Growth		389,674		—		—			—			35,628			425,302		55,668		—		—
Transamerica Mid Cap Value Opportunities		412,120		25,892		(17,500	)		(5,922	)		14,562			429,152		37,844		4,511		21,379
Transamerica Small Cap Growth		263,354		10,190		—			—			3,831			277,375		44,168		—		10,191
Transamerica Small Cap Value		279,412		45,034		(17,500	)		(16,674	)		(11,399	)		278,873		47,107		5,841		39,194
Total	$	14,191,221	$	294,791	$	(669,646	)	$	(159,989	)	$	972,487		$	14,628,864		1,706,145	$	149,289	$	145,502

(B) 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:

REIT Real Estate Investment Trust

Transamerica Funds Page    2

Transamerica ClearTrack^® 2020

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

INVESTMENT VALUATION

Transamerica ClearTrack^® 2020 (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.

Transamerica Funds Page    3