Square Enix Holdings Co. Ltd.


	Shares		Value
COMMON STOCKS - 100.1%
Australia - 4.3%
BHP Group Ltd., ADR^(A)		350,176		$ 24,564,846
BHP Group Ltd.		519,000		18,176,486
Macquarie Group Ltd.		447,100		59,647,134
Santos Ltd.		12,360,200		63,097,234
Westpac Banking Corp.		1,227,100		20,647,023
Woodside Energy Group Ltd.		927,578		24,018,586

				210,151,309

Belgium - 3.5%
Anheuser-Busch InBev SA		1,442,100		87,047,658
Groupe Bruxelles Lambert NV		356,420		30,490,026
KBC Group NV		681,100		50,447,219

				167,984,903

Canada - 0.7%
TFI International, Inc.^(A)		296,400		33,011,548

Finland - 1.2%
Nokia OYJ		12,343,600		58,527,375

France - 10.5%
Amundi SA^(B)		556,900		36,460,229
Capgemini SE		349,852		66,396,862
Cie de Saint-Gobain		501,637		28,809,597
Dassault Aviation SA		110,129		18,805,988
Engie SA		3,446,200		48,935,571
Rexel SA^(C)		957,517		21,182,575
Sanofi		743,301		72,787,323
Societe Generale SA		1,271,600		37,851,171
Sodexo SA		298,100		29,551,491
TotalEnergies SE		1,129,600		69,832,726
Veolia Environnement SA		2,701,623		80,190,798

				510,804,331

Germany - 11.8%
Allianz SE		287,302		68,697,879
BASF SE		973,000		55,787,365
Bayer AG		454,852		28,312,233
Deutsche Boerse AG		244,382		43,730,273
Deutsche Post AG		1,537,801		66,212,625
HeidelbergCement AG		950,435		65,216,387
Infineon Technologies AG		1,650,327		59,429,028
SAP SE		763,447		90,498,978
Siemens AG		466,795		72,915,841
Talanx AG		438,784		21,706,970

				572,507,579

Hong Kong - 2.1%
CK Asset Holdings Ltd.		4,926,400		31,496,983
CK Hutchison Holdings Ltd.		11,254,700		71,624,360

				103,121,343

Ireland - 4.4%
AerCap Holdings NV^(C)		879,300		55,580,553
AIB Group PLC		11,407,000		47,916,132
DCC PLC		770,131		43,865,046
Ryanair Holdings PLC, ADR^(C)		57,472		5,202,940
Smurfit Kappa Group PLC^(A)		1,493,415		62,700,328

				215,264,999


	Shares		Value
COMMON STOCKS (continued)
Israel - 0.9%
Check Point Software Technologies Ltd.^(C)		338,600		$ 43,069,920

Italy - 0.4%
Prysmian SpA		486,966		19,886,558

Japan - 18.2%
Astellas Pharma, Inc.		3,298,000		48,546,990
Denka Co. Ltd.		769,980		15,972,952
FANUC Corp.		257,600		45,515,229
Fujitsu Ltd.		320,660		45,655,353
Hitachi Ltd.		1,138,480		59,704,678
Kirin Holdings Co. Ltd.		1,877,300		28,928,673
Kyocera Corp.		976,200		50,656,385
Nintendo Co. Ltd.		1,214,200		52,645,001
Olympus Corp.		1,111,900		20,903,287
ORIX Corp.		3,619,400		63,639,840
Rakuten Group, Inc.^(A)		6,409,600		32,678,988
SBI Holdings, Inc.		2,134,000		45,239,290
Sega Sammy Holdings, Inc.		1,205,000		19,080,586
Seven & i Holdings Co. Ltd.		1,660,600		78,401,737
Sony Group Corp.		1,091,500		97,527,200
Square Enix Holdings Co. Ltd.		439,600		20,789,236
Sumitomo Mitsui Financial Group, Inc.^(A)		1,472,900		64,013,801
Toshiba Corp.^(A)		1,063,550		36,529,379
Toyota Industries Corp.		912,300		55,534,091

				881,962,696

Luxembourg - 1.0%
ArcelorMittal SA		1,612,535		50,025,550

Netherlands - 4.1%
ASML Holding NV		98,600		65,238,458
EXOR NV^(C)		226,900		18,035,968
Heineken Holding NV		661,685		54,632,610
Koninklijke Philips NV		826,734		14,273,935
NXP Semiconductors NV		248,000		45,708,880

				197,889,851

Norway - 1.6%
Aker BP ASA^(A)		1,075,699		32,767,657
DNB Bank ASA		2,373,300		44,379,680

				77,147,337

Republic of Korea - 1.6%
Samsung Electronics Co. Ltd.		1,521,819		75,802,153

Singapore - 1.5%
DBS Group Holdings Ltd.		2,557,100		70,003,863

Sweden - 2.3%
Essity AB, Class B		1,856,000		48,486,397
Husqvarna AB, B Shares^(A)		1,096,900		9,332,300
Investor AB, B Shares		359,188		6,979,732
Skandinaviska Enskilda Banken AB, Class A		985,000		11,924,222
Volvo AB, B Shares		1,715,937		34,050,204

				110,772,855

Switzerland - 11.0%
ABB Ltd.^(A)		1,843,200		64,172,209
Alcon, Inc.		138,073		10,418,782
Cie Financiere Richemont SA, Class A		408,700		63,004,050
Glencore PLC		7,326,300		49,063,365
Julius Baer Group Ltd.		121,700		7,806,363
Nestle SA		758,464		92,539,468
Novartis AG		762,615		68,947,287


	Shares		Value
COMMON STOCKS (continued)
Switzerland (continued)
Roche Holding AG		250,361		$ 78,155,286
Siemens Energy AG^(A)		1,785,597		37,334,704
UBS Group AG		2,903,174		61,969,335

				533,410,849

United Kingdom - 19.0%
Ashtead Group PLC		863,300		56,864,511
Aviva PLC		2,257,212		12,730,332
Barratt Developments PLC		3,123,042		17,750,515
BP PLC		10,975,400		66,294,134
Bunzl PLC		970,648		35,633,650
Burberry Group PLC		605,700		18,450,172
CNH Industrial NV		2,845,700		50,344,282
Entain PLC		1,236,200		22,796,371
GSK PLC		2,739,580		48,120,764
Imperial Brands PLC		291,094		7,302,449
Inchcape PLC		2,189,896		24,690,466
Informa PLC		4,190,251		34,656,507
Kingfisher PLC		13,249,500		45,709,680
Legal & General Group PLC		10,513,200		33,084,393
Liberty Global PLC, Class C^(C)		1,853,800		41,432,430
Linde PLC		158,900		52,586,366
Lloyds Banking Group PLC		99,656,554		64,856,024
Melrose Industries PLC		13,649,820		24,066,914
Persimmon PLC		1,503,000		26,250,343
Reckitt Benckiser Group PLC		879,600		62,681,087
Smith & Nephew PLC		3,396,300		46,904,036
Tesco PLC		19,331,132		58,754,650


	Shares		Value
COMMON STOCKS (continued)
United Kingdom (continued)
Unilever PLC		1,389,314		$ 70,714,770

				922,674,846

Total Common Stocks (Cost $4,203,116,373)				4,854,019,865


OTHER INVESTMENT COMPANY - 1.2%
Securities Lending Collateral - 1.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 4.30%^(D)		57,182,350		57,182,350

Total Other Investment Company (Cost $57,182,350)				57,182,350


	Principal		Value
REPURCHASE AGREEMENT - 0.5%
Fixed Income Clearing Corp., 1.80%^(D), dated 01/31/2023, to be repurchased at $21,933,648 on 02/01/2023. Collateralized by a U.S. Government Obligation, 1.75%, due 07/31/2024, and with a value of $22,371,232.		$ 21,932,552		21,932,552

Total Repurchase Agreement (Cost $21,932,552)				21,932,552

Total Investments (Cost $4,282,231,275)				4,933,134,767
Net Other Assets (Liabilities) - (1.8)%				(85,585,545	)

Net Assets - 100.0%				$ 4,847,549,222

Transamerica International Equity (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:

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.

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.

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.


Industry	Percentage of Total Investments			Value
Banks		8.3	%		$	412,039,135
Pharmaceuticals		7.0				344,869,883
Industrial Conglomerates		6.3				308,706,218
Oil, Gas & Consumable Fuels		5.2				256,010,337
Capital Markets		5.2				254,852,624
Machinery		3.9				194,776,106
Beverages		3.5				170,608,941
Semiconductors & Semiconductor Equipment		3.5				170,376,366
Metals & Mining		2.9				141,830,247
Household Durables		2.9				141,528,058
Food & Staples Retailing		2.8				137,156,387
Insurance		2.8				136,219,574
Software		2.7				133,568,898
Multi-Utilities		2.6				129,126,369
Chemicals		2.5				124,346,683
Electrical Equipment		2.5				121,393,471
Diversified Financial Services		2.4				119,145,566
Trading Companies & Distributors		2.3				112,396,778
IT Services		2.3				112,052,215
Household Products		2.2				111,167,484
Food Products		1.9				92,539,468
Health Care Equipment & Supplies		1.9				92,500,040
Textiles, Apparel & Luxury Goods		1.6				81,454,222
Technology Hardware, Storage & Peripherals		1.5				75,802,153
Entertainment		1.5				73,434,237
Personal Products		1.4				70,714,770
Air Freight & Logistics		1.3				66,212,625
Construction Materials		1.3				65,216,387
Containers & Packaging		1.3				62,700,328
Communications Equipment		1.2				58,527,375
Commercial Services & Supplies		1.1				56,864,511
Hotels, Restaurants & Leisure		1.1				52,347,862
Electronic Equipment, Instruments & Components		1.0				50,656,385
Specialty Retail		0.9				45,709,680
Diversified Telecommunication Services		0.8				41,432,430
Media		0.7				34,656,507
Road & Rail		0.7				33,011,548
Internet & Direct Marketing Retail		0.7				32,678,988
Real Estate Management & Development		0.6				31,496,983
Building Products		0.6				28,809,597
Distributors		0.5				24,690,466
Leisure Products		0.4				19,080,586
Aerospace & Defense		0.4				18,805,988
Tobacco		0.1				7,302,449
Airlines		0.1				5,202,940

Investments		98.4				4,854,019,865
Short-Term Investments		1.6				79,114,902

Total Investments		100.0	%		$	4,933,134,767


(A)		All or a portion of the securities are on loan. The total value of all securities on loan is $123,281,792, collateralized by cash collateral of $57,182,350 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $71,695,053. 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.
(B)		Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Security may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2023, the value of the 144A security is $36,460,229, representing 0.8% of the Fund’s net assets.
(C)		Non-income producing securities.
(D)		Rates disclosed reflect the yields at January 31, 2023.
(E)		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
Common Stocks	$	301,157,483	$	4,552,862,382	$	—	$	4,854,019,865
Other Investment Company		57,182,350		—		—		57,182,350
Repurchase Agreement		—		21,932,552		—		21,932,552

Total Investments	$	358,339,833	$	4,574,794,934	$	—	$	4,933,134,767


Transamerica Funds			Page 1


Transamerica Funds			Page 2


Transamerica Funds			Page 3


ADR		American Depositary Receipt