HTML

Transamerica Stock Index (the “Fund”) is a series of the Transamerica Funds.

The value of the Fund’s investment in the Master Portfolio, reflected within the Schedule of Investments, displays the Fund’s proportional interest in the net assets of the Master Portfolio. At the period ended March 31, 2023, the Fund held a 0.95% ownership interest in the Master Portfolio.

Information regarding the valuation policy for the underlying securities held by the Master Portfolio is discussed in the Master Portfolio’s Schedule of Investments, which accompany this report.


Security	Shares		Value

Common Stocks

Aerospace & Defense — 1.7%
Boeing Co.^(a)		510,046	$	108,349,072
General Dynamics Corp.		204,751		46,726,226
Howmet Aerospace, Inc.		336,170		14,243,523
Huntington Ingalls Industries, Inc.		36,612		7,579,416
L3Harris Technologies, Inc.		173,100		33,969,144
Lockheed Martin Corp.		207,361		98,025,766
Northrop Grumman Corp.		131,718		60,816,835
Raytheon Technologies Corp.		1,338,392		131,068,729
Textron, Inc.		190,018		13,420,971
TransDigm Group, Inc.		47,228		34,809,397

				549,009,079

Air Freight & Logistics — 0.6%
CH Robinson Worldwide, Inc.^(b)		107,165		10,648,986
Expeditors International of Washington, Inc.		144,881		15,954,296
FedEx Corp.		218,135		49,841,666
United Parcel Service, Inc., Class B		664,453		128,897,237

				205,342,185

Automobile Components — 0.1%
Aptiv PLC^(a)		247,819		27,802,814
BorgWarner, Inc.		212,186		10,420,454

				38,223,268

Automobiles — 1.9%
Ford Motor Co.		3,595,885		45,308,151
General Motors Co.		1,292,442		47,406,773
Tesla, Inc.^(a)		2,454,492		509,208,910

				601,923,834

Banks — 3.1%
Bank of America Corp.		6,354,382		181,735,325
Citigroup, Inc.		1,763,375		82,684,654
Citizens Financial Group, Inc.		453,139		13,761,831
Comerica, Inc.		117,856		5,117,308
Fifth Third BanCorp.		622,692		16,588,515
First Republic Bank^(b)		167,966		2,349,844
Huntington Bancshares, Inc.		1,325,535		14,845,992
JPMorgan Chase & Co.		2,676,914		348,828,663
KeyCorp.		846,467		10,597,767
M&T Bank Corp.		156,793		18,747,739
PNC Financial Services Group, Inc.		366,898		46,632,736
Regions Financial Corp.		858,763		15,938,641
Truist Financial Corp.		1,204,533		41,074,575
U.S. BanCorp.		1,271,477		45,836,746
Wells Fargo & Co.		3,469,197		129,678,584
Zions BanCorp NA		137,643		4,119,655

				978,538,575

Beverages — 1.8%
Brown-Forman Corp., Class B		165,482		10,635,528
Coca-Cola Co.		3,543,462		219,800,948
Constellation Brands, Inc., Class A		148,414		33,525,238
Keurig Dr. Pepper, Inc.		777,725		27,438,138
Molson Coors Beverage Co., Class B		172,881		8,934,490
Monster Beverage Corp.^(a)		693,518		37,456,907
PepsiCo, Inc.		1,254,312		228,661,078

				566,452,327

Biotechnology — 2.3%
AbbVie, Inc.		1,610,084		256,599,087
Amgen, Inc.		485,605		117,395,009
Biogen, Inc.^(a)		131,103		36,450,567


Security	Shares		Value

Biotechnology (continued)
Gilead Sciences, Inc.		1,141,905	$	94,743,858
Incyte Corp.^(a)		169,464		12,247,163
Moderna, Inc.^(a)(b)		300,684		46,179,049
Regeneron Pharmaceuticals, Inc.^(a)		97,493		80,107,073
Vertex Pharmaceuticals, Inc.^(a)		233,684		73,626,818

				717,348,624

Broadline Retail — 2.8%
Amazon.com, Inc.^(a)		8,136,152		840,383,140
eBay, Inc.		497,210		22,061,208
Etsy, Inc.^(a)(b)		115,093		12,813,304

				875,257,652

Building Products — 0.4%
A O Smith Corp.		117,189		8,103,619
Allegion PLC		79,067		8,438,821
Carrier Global Corp.		761,361		34,832,266
Johnson Controls International PLC		628,013		37,818,943
Masco Corp.		206,583		10,271,307
Trane Technologies PLC		209,679		38,576,742

				138,041,698

Capital Markets — 2.8%
Ameriprise Financial, Inc.		96,884		29,694,946
Bank of New York Mellon Corp.		672,768		30,570,578
BlackRock, Inc.^(c)		136,744		91,498,145
Cboe Global Markets, Inc.		97,578		13,098,871
Charles Schwab Corp.		1,388,693		72,739,739
CME Group, Inc., Class A		327,251		62,675,111
FactSet Research Systems, Inc.		34,598		14,361,284
Franklin Resources, Inc.		254,123		6,846,074
Goldman Sachs Group, Inc.		308,305		100,849,649
Intercontinental Exchange, Inc.		508,252		53,005,601
Invesco Ltd.		420,422		6,894,921
MarketAxess Holdings, Inc.		33,970		13,292,121
Moody’s Corp.		143,848		44,020,365
Morgan Stanley		1,200,210		105,378,438
MSCI, Inc.		72,796		40,743,193
Nasdaq, Inc.		309,612		16,926,488
Northern Trust Corp.		189,313		16,684,155
Raymond James Financial, Inc.		175,801		16,396,959
S&P Global, Inc.		303,174		104,525,300
State Street Corp.		332,136		25,139,374
T Rowe Price Group, Inc.		204,367		23,073,034

				888,414,346

Chemicals — 1.8%
Air Products & Chemicals, Inc.		201,933		57,997,177
Albemarle Corp.		107,065		23,665,648
Celanese Corp.		91,453		9,958,317
CF Industries Holdings, Inc.		180,343		13,073,064
Corteva, Inc.		649,994		39,201,138
Dow, Inc.		640,717		35,124,106
DuPont de Nemours, Inc.		418,095		30,006,678
Eastman Chemical Co.		109,209		9,210,687
Ecolab, Inc.		226,421		37,479,468
FMC Corp.		115,005		14,045,561
International Flavors & Fragrances, Inc.		230,460		21,193,102
Linde PLC		450,100		159,983,544
LyondellBasell Industries NV, Class A		230,104		21,604,465
Mosaic Co.		312,487		14,336,904


Security	Shares		Value

Chemicals (continued)
PPG Industries, Inc.		212,732	$	28,416,740
Sherwin-Williams Co.		214,698		48,257,669

				563,554,268

Commercial Services & Supplies — 0.5%
Cintas Corp.		78,524		36,331,484
Copart, Inc.^(a)		391,788		29,466,376
Republic Services, Inc.		186,337		25,196,489
Rollins, Inc.		207,904		7,802,637
Waste Management, Inc.		340,078		55,490,527

				154,287,513

Communications Equipment — 0.9%
Arista Networks, Inc.^(a)		226,296		37,986,047
Cisco Systems, Inc.		3,749,155		195,987,078
F5, Inc.^(a)		53,572		7,804,905
Juniper Networks, Inc.		298,689		10,280,875
Motorola Solutions, Inc.		152,225		43,556,139

				295,615,044

Construction & Engineering — 0.1%
Quanta Services, Inc.		130,356		21,722,524


Construction Materials — 0.1%
Martin Marietta Materials, Inc.		56,452		20,043,847
Vulcan Materials Co.		120,232		20,627,002

				40,670,849

Consumer Finance — 0.5%
American Express Co.		544,040		89,739,398
Capital One Financial Corp.		347,204		33,387,137
Discover Financial Services		250,044		24,714,349
Synchrony Financial		410,182		11,928,092

				159,768,976

Consumer Staples Distribution & Retail — 1.9%
Costco Wholesale Corp.		404,958		201,211,481
Dollar General Corp.		205,271		43,201,335
Dollar Tree, Inc.^(a)(b)		190,797		27,388,909
Kroger Co.		590,156		29,136,002
Sysco Corp.		460,716		35,581,097
Target Corp.		418,973		69,394,498
Walgreens Boots Alliance, Inc.		657,718		22,743,888
Walmart, Inc.		1,284,989		189,471,628

				618,128,838

Containers & Packaging — 0.3%
Amcor PLC		1,352,352		15,389,766
Avery Dennison Corp.		73,900		13,222,927
Ball Corp.		283,963		15,649,201
International Paper Co.		321,618		11,597,545
Packaging Corp. of America		83,266		11,559,819
Sealed Air Corp.		133,957		6,149,966
Westrock Co.		227,684		6,937,531

				80,506,755

Distributors — 0.2%
Genuine Parts Co.		128,003		21,416,182
LKQ Corp.		231,034		13,113,490
Pool Corp.		35,301		12,088,474

				46,618,146


Security	Shares		Value

Diversified Telecommunication Services — 0.9%
AT&T, Inc.		6,488,657	$	124,906,647
Verizon Communications, Inc.		3,823,652		148,701,827

				273,608,474

Electric Utilities — 1.8%
Alliant Energy Corp.		227,585		12,153,039
American Electric Power Co., Inc.		468,333		42,613,620
Constellation Energy Corp.		296,239		23,254,762
Duke Energy Corp.		700,926		67,618,331
Edison International		349,836		24,694,923
Entergy Corp.		184,071		19,831,810
Evergy, Inc.		208,077		12,717,666
Eversource Energy		318,448		24,921,741
Exelon Corp.		905,553		37,933,615
FirstEnergy Corp.		491,319		19,682,239
NextEra Energy, Inc.		1,809,180		139,451,594
NRG Energy, Inc.		207,176		7,104,065
PG&E Corp.^(a)(b)		1,458,547		23,584,705
Pinnacle West Capital Corp.		101,647		8,054,508
PPL Corp.		674,518		18,744,855
Southern Co.		991,164		68,965,191
Xcel Energy, Inc.		499,491		33,685,673

				585,012,337

Electrical Equipment — 0.6%
AMETEK, Inc.		209,967		30,514,504
Eaton Corp. PLC		362,512		62,112,806
Emerson Electric Co.		538,339		46,910,860
Generac Holdings, Inc.^(a)(b)		58,692		6,339,323
Rockwell Automation, Inc.		104,493		30,663,471

				176,540,964

Electronic Equipment, Instruments & Components — 0.6%
Amphenol Corp., Class A		542,182		44,307,113
CDW Corp.		123,862		24,139,465
Corning, Inc.		697,328		24,601,732
Keysight Technologies, Inc.^(a)		163,103		26,337,873
TE Connectivity Ltd.		289,522		37,970,810
Teledyne Technologies, Inc.^(a)(b)		42,839		19,164,455
Trimble, Inc.^(a)(b)		223,646		11,723,523
Zebra Technologies Corp., Class A^(a)		47,349		15,056,982

				203,301,953

Energy Equipment & Services — 0.4%
Baker Hughes Co.		915,696		26,426,987
Halliburton Co.		828,836		26,224,371
Schlumberger NV		1,290,422		63,359,720

				116,011,078

Entertainment — 1.4%
Activision Blizzard, Inc.		648,400		55,496,556
Electronic Arts, Inc.		238,735		28,755,631
Live Nation Entertainment, Inc.^(a)(b)		130,925		9,164,750
Netflix, Inc.^(a)		405,161		139,975,022
Take-Two Interactive Software, Inc.^(a)		144,763		17,270,226
Walt Disney Co.^(a)		1,667,188		166,935,534
Warner Bros Discovery, Inc., Class A^(a)(b)		2,020,398		30,508,010

				448,105,729

Financial Services — 4.2%
Berkshire Hathaway, Inc., Class B^(a)		1,644,294		507,708,658
Fidelity National Information Services, Inc.		540,225		29,350,424
Fiserv, Inc.^(a)		578,029		65,334,618


Security	Shares		Value

Financial Services (continued)
FleetCor Technologies, Inc.^(a)(b)		66,604	$	14,043,454
Global Payments, Inc.		246,179		25,907,878
Jack Henry & Associates, Inc.		66,175		9,973,896
Mastercard, Inc., Class A		772,853		280,862,509
PayPal Holdings, Inc.^(a)		1,037,919		78,819,569
Visa, Inc., Class A		1,488,572		335,613,443

				1,347,614,449

Food Products — 1.1%
Archer-Daniels-Midland Co.		500,125		39,839,957
Bunge Ltd.		136,892		13,075,924
Campbell Soup Co.		184,464		10,141,831
Conagra Brands, Inc.		437,146		16,419,204
General Mills, Inc.		539,298		46,088,407
Hershey Co.		134,370		34,185,072
Hormel Foods Corp.		264,660		10,554,641
J M Smucker Co.		97,657		15,368,282
Kellogg Co.		231,570		15,505,927
Kraft Heinz Co.		721,003		27,881,186
Lamb Weston Holdings, Inc.		132,469		13,845,660
McCormick & Co., Inc.		226,760		18,868,699
Mondelez International, Inc., Class A		1,242,932		86,657,219
Tyson Foods, Inc., Class A		263,622		15,638,057

				364,070,066

Gas Utilities — 0.0%
Atmos Energy Corp.		126,610		14,225,900


Ground Transportation — 0.8%
CSX Corp.		1,913,962		57,304,022
JB Hunt Transport Services, Inc.		74,860		13,134,936
Norfolk Southern Corp.		210,727		44,674,124
Old Dominion Freight Line, Inc.^(b)		82,060		27,969,330
Union Pacific Corp.		559,735		112,652,266

				255,734,678

Health Care Equipment & Supplies — 2.8%
Abbott Laboratories		1,587,407		160,740,833
Align Technology, Inc.^(a)		66,161		22,107,037
Baxter International, Inc.		457,033		18,537,258
Becton Dickinson and Co.		259,576		64,255,443
Boston Scientific Corp.^(a)		1,303,511		65,214,655
Cooper Cos., Inc.		44,652		16,671,271
Dentsply Sirona, Inc.		193,068		7,583,711
Dexcom, Inc.^(a)		351,657		40,855,510
Edwards Lifesciences Corp.^(a)		561,282		46,434,860
GE HealthCare Technologies, Inc.^(a)		332,675		27,289,330
Hologic, Inc.^(a)		225,969		18,235,698
IDEXX Laboratories, Inc.^(a)		75,399		37,705,532
Insulet Corp.^(a)(b)		63,454		20,239,288
Intuitive Surgical, Inc.^(a)		321,733		82,193,130
Medtronic PLC		1,210,105		97,558,665
ResMed, Inc.		133,967		29,337,433
STERIS PLC		90,921		17,391,369
Stryker Corp.		306,636		87,535,379
Teleflex, Inc.		43,227		10,949,831
Zimmer Biomet Holdings, Inc.		190,974		24,673,841

				895,510,074

Health Care Providers & Services — 3.0%
AmerisourceBergen Corp.		147,401		23,600,374
Cardinal Health, Inc.		238,652		18,018,226
Centene Corp.^(a)		515,535		32,586,967
Cigna Group		272,579		69,652,112


Security	Shares		Value

Health Care Providers & Services (continued)
CVS Health Corp.		1,171,912	$	87,084,781
DaVita, Inc.^(a)(b)		49,430		4,009,267
Elevance Health, Inc.		217,437		99,979,707
HCA Healthcare, Inc.		193,042		50,901,315
Henry Schein, Inc.^(a)		122,062		9,952,936
Humana, Inc.		115,185		55,917,710
Laboratory Corp. of America Holdings		80,663		18,505,705
McKesson Corp.		129,065		45,953,593
Molina Healthcare, Inc.^(a)		52,923		14,156,373
Quest Diagnostics, Inc.		103,685		14,669,354
UnitedHealth Group, Inc.		850,662		402,014,355
Universal Health Services, Inc., Class B		58,270		7,406,117

				954,408,892

Health Care REITs — 0.2%
Healthpeak Properties, Inc.		491,148		10,790,521
Ventas, Inc.		365,828		15,858,644
Welltower, Inc.		432,013		30,971,012

				57,620,177

Hotel & Resort REITs — 0.0%
Host Hotels & Resorts, Inc.		655,790		10,813,977


Hotels, Restaurants & Leisure — 2.1%
Booking Holdings, Inc.^(a)		35,315		93,669,859
Caesars Entertainment, Inc.^(a)		194,060		9,472,069
Carnival Corp.^(a)(b)		894,078		9,074,892
Chipotle Mexican Grill, Inc.^(a)		25,328		43,267,569
Darden Restaurants, Inc.		112,171		17,404,452
Domino’s Pizza, Inc.		31,708		10,459,518
Expedia Group, Inc.^(a)		137,600		13,351,328
Hilton Worldwide Holdings, Inc.		246,229		34,686,279
Las Vegas Sands Corp.^(a)		299,226		17,190,534
Marriott International, Inc., Class A		244,957		40,672,660
McDonald’s Corp.		666,823		186,450,379
MGM Resorts International		290,188		12,890,151
Norwegian Cruise Line Holdings Ltd.^(a)(b)		388,617		5,226,899
Royal Caribbean Cruises Ltd.^(a)		201,766		13,175,320
Starbucks Corp.		1,045,086		108,824,805
Wynn Resorts Ltd.^(a)		94,780		10,606,830
Yum! Brands, Inc.		256,455		33,872,576

				660,296,120

Household Durables — 0.3%
D.R. Horton, Inc.		284,724		27,814,688
Garmin Ltd.		139,008		14,028,687
Lennar Corp., Class A		231,595		24,342,950
Mohawk Industries, Inc.^(a)(b)		47,669		4,777,387
Newell Brands, Inc.		341,632		4,249,902
NVR, Inc.^(a)		2,735		15,239,940
PulteGroup, Inc.		207,362		12,085,057
Whirlpool Corp.		48,886		6,453,930

				108,992,541

Household Products — 1.4%
Church & Dwight Co., Inc.		220,403		19,485,829
Clorox Co.		112,871		17,860,707
Colgate-Palmolive Co.		759,503		57,076,650
Kimberly-Clark Corp.		307,914		41,328,217
Procter & Gamble Co.		2,157,453		320,791,687

				456,543,090

Independent Power and Renewable Electricity Producers — 0.0%
AES Corp.		608,757		14,658,869


Security	Shares		Value

Industrial Conglomerates — 0.8%
3M Co.		503,870	$	52,961,776
General Electric Co.		994,721		95,095,328
Honeywell International, Inc.		612,104		116,985,316

				265,042,420

Industrial REITs — 0.3%
Prologis, Inc.		840,399		104,856,583


Insurance — 2.1%
Aflac, Inc.		515,142		33,236,962
Allstate Corp.		241,453		26,755,407
American International Group, Inc.		676,425		34,064,763
Aon PLC, Class A		188,326		59,377,305
Arch Capital Group Ltd.^(a)(b)		335,080		22,741,880
Arthur J Gallagher & Co.		191,964		36,724,633
Assurant, Inc.		47,910		5,752,554
Brown & Brown, Inc.		216,073		12,406,912
Chubb Ltd.		377,875		73,375,767
Cincinnati Financial Corp.		142,367		15,956,493
Everest Re Group Ltd.		35,420		12,681,068
Globe Life, Inc.		83,336		9,168,627
Hartford Financial Services Group, Inc.		288,075		20,075,947
Lincoln National Corp.		142,833		3,209,457
Loews Corp.		178,674		10,366,665
Marsh & McLennan Cos., Inc.		451,584		75,211,315
MetLife, Inc.		599,347		34,726,165
Principal Financial Group, Inc.		207,172		15,397,023
Progressive Corp.		532,667		76,203,341
Prudential Financial, Inc.		333,104		27,561,025
Travelers Cos., Inc.		213,355		36,571,181
W.R. Berkley Corp.		187,309		11,661,858
Willis Towers Watson PLC		98,232		22,827,152

				676,053,500

Interactive Media & Services^(a)— 4.7%
Alphabet, Inc., Class A		5,438,017		564,085,503
Alphabet, Inc., Class C		4,738,491		492,803,064
Match Group, Inc.		251,015		9,636,466
Meta Platforms, Inc., Class A		2,031,285		430,510,543

				1,497,035,576

IT Services — 1.2%
Accenture PLC, Class A		573,646		163,953,763
Akamai Technologies, Inc.^(a)		143,866		11,264,708
Cognizant Technology Solutions Corp., Class A		468,625		28,553,321
DXC Technology Co.^(a)		212,880		5,441,213
EPAM Systems, Inc.^(a)		52,068		15,568,332
Gartner, Inc.^(a)		71,548		23,308,192
International Business Machines Corp.		823,146		107,906,209
VeriSign, Inc.^(a)		84,410		17,838,366

				373,834,104

Leisure Products — 0.0%
Hasbro, Inc.		116,181		6,237,758


Life Sciences Tools & Services — 1.8%
Agilent Technologies, Inc.		269,476		37,279,310
Bio-Rad Laboratories, Inc., Class A^(a)		19,866		9,516,211
Bio-Techne Corp.^(b)		143,852		10,672,380
Charles River Laboratories International, Inc.^(a)(b)		46,558		9,396,336
Danaher Corp.		596,485		150,338,079
Illumina, Inc.^(a)(b)		143,492		33,369,065
IQVIA Holdings, Inc.^(a)		168,669		33,546,578
Mettler-Toledo International, Inc.^(a)		20,370		31,170,378
PerkinElmer, Inc.		114,240		15,223,622
Thermo Fisher Scientific, Inc.		357,928		206,298,961


Security	Shares		Value

Life Sciences Tools & Services (continued)
Waters Corp.^(a)(b)		54,191	$	16,779,159
West Pharmaceutical Services, Inc.		67,210		23,286,249

				576,876,328

Machinery — 1.8%
Caterpillar, Inc.		473,798		108,423,934
Cummins, Inc.		128,825		30,773,716
Deere & Co.		250,056		103,243,121
Dover Corp.		127,781		19,415,045
Fortive Corp.		321,926		21,945,695
IDEX Corp.		68,839		15,903,874
Illinois Tool Works, Inc.		254,502		61,958,512
Ingersoll Rand, Inc.^(b)		366,309		21,311,858
Nordson Corp.		49,465		10,994,091
Otis Worldwide Corp.		379,274		32,010,726
PACCAR, Inc.		476,451		34,876,213
Parker-Hannifin Corp.		117,163		39,379,656
Pentair PLC		150,378		8,311,392
Snap-on, Inc.		48,648		12,010,705
Stanley Black & Decker, Inc.		134,067		10,803,119
Westinghouse Air Brake Technologies Corp.		165,252		16,700,367
Xylem, Inc.		163,075		17,073,953

				565,135,977

Media — 0.8%
Charter Communications, Inc., Class A^(a)		97,792		34,971,397
Comcast Corp., Class A		3,839,056		145,538,613
DISH Network Corp., Class A^(a)		234,973		2,192,298
Fox Corp., Class A		278,201		9,472,744
Fox Corp., Class B		124,777		3,906,768
Interpublic Group of Cos., Inc.		350,866		13,066,250
News Corp., Class A		353,668		6,107,847
News Corp., Class B		114,231		1,991,046
Omnicom Group, Inc.		185,395		17,490,164
Paramount Global, Class B		463,480		10,340,239

				245,077,366

Metals & Mining — 0.5%
Freeport-McMoRan, Inc.		1,302,333		53,278,443
Newmont Corp.		724,983		35,538,667
Nucor Corp.		233,563		36,078,477
Steel Dynamics, Inc.		151,888		17,172,457

				142,068,044

Multi-Utilities — 0.8%
Ameren Corp.		234,259		20,237,635
CenterPoint Energy, Inc.		569,737		16,784,452
CMS Energy Corp.		262,644		16,121,089
Consolidated Edison, Inc.		324,232		31,019,275
Dominion Energy, Inc.		758,436		42,404,157
DTE Energy Co.		175,301		19,202,471
NiSource, Inc.		375,260		10,492,270
Public Service Enterprise Group, Inc.		456,512		28,509,174
Sempra Energy		286,393		43,291,166
WEC Energy Group, Inc.		286,040		27,113,732

				255,175,421

Office REITs — 0.1%
Alexandria Real Estate Equities, Inc.		143,747		18,053,186
Boston Properties, Inc.		129,325		6,999,069

				25,052,255

Oil, Gas & Consumable Fuels — 4.2%
APA Corp.		296,215		10,681,513
Chevron Corp.		1,619,613		264,256,057
ConocoPhillips		1,116,921		110,809,732


Security	Shares		Value

Oil, Gas & Consumable Fuels (continued)
Coterra Energy, Inc.		717,837	$	17,615,720
Devon Energy Corp.		596,876		30,207,894
Diamondback Energy, Inc.		167,721		22,670,848
EOG Resources, Inc.		534,339		61,251,280
EQT Corp.		335,322		10,700,125
Exxon Mobil Corp.		3,758,187		412,122,787
Hess Corp.		251,907		33,337,372
Kinder Morgan, Inc.		1,793,406		31,402,539
Marathon Oil Corp.		578,179		13,853,169
Marathon Petroleum Corp.		414,331		55,864,249
Occidental Petroleum Corp.		661,996		41,328,410
ONEOK, Inc.		409,076		25,992,689
Phillips 66		430,294		43,623,206
Pioneer Natural Resources Co.		215,717		44,058,040
Targa Resources Corp.		205,339		14,979,480
Valero Energy Corp.		350,993		48,998,623
Williams Cos., Inc.		1,111,805		33,198,497

				1,326,952,230

Passenger Airlines — 0.2%
Alaska Air Group, Inc.^(a)		117,159		4,915,992
American Airlines Group, Inc.^(a)		585,790		8,640,402
Delta Air Lines, Inc.^(a)		580,455		20,269,488
Southwest Airlines Co.		545,842		17,761,699
United Airlines Holdings, Inc.^(a)(b)		296,024		13,099,062

				64,686,643

Personal Care Products — 0.2%
Estee Lauder Cos., Inc., Class A		211,156		52,041,508


Pharmaceuticals — 4.1%
Bristol-Myers Squibb Co.		1,935,726		134,165,169
Catalent, Inc.^(a)		166,156		10,918,111
Eli Lilly and Co.		718,011		246,579,338
Johnson & Johnson		2,386,042		369,836,510
Merck & Co., Inc.		2,308,308		245,580,888
Organon & Co.		229,346		5,394,218
Pfizer, Inc.		5,110,548		208,510,358
Viatris, Inc.		1,097,456		10,557,527
Zoetis, Inc.		424,277		70,616,664

				1,302,158,783

Professional Services — 0.8%
Automatic Data Processing, Inc.		377,673		84,081,340
Broadridge Financial Solutions, Inc.		107,449		15,748,800
CoStar Group, Inc.^(a)		371,826		25,600,220
Equifax, Inc.		112,254		22,769,601
Jacobs Solutions, Inc.		116,520		13,692,265
Leidos Holdings, Inc.		123,695		11,387,362
Paychex, Inc.		292,419		33,508,293
Robert Half International, Inc.		99,063		7,981,506
Verisk Analytics, Inc.		142,058		27,255,248

				242,024,635

Real Estate Management & Development — 0.1%
CBRE Group, Inc., Class A^(a)		287,647		20,943,578


Residential REITs — 0.3%
AvalonBay Communities, Inc.		126,550		21,267,993
Camden Property Trust		97,493		10,221,166
Equity Residential		309,475		18,568,500
Essex Property Trust, Inc.		59,575		12,459,515
Invitation Homes, Inc.		524,914		16,393,064


Security	Shares		Value

Residential REITs (continued)
Mid-America Apartment Communities, Inc.		105,820	$	15,983,053
UDR, Inc.		281,293		11,549,891

				106,443,182

Retail REITs — 0.3%
Federal Realty Investment Trust		67,063		6,627,836
Kimco Realty Corp.		565,139		11,037,165
Realty Income Corp.		568,709		36,010,654
Regency Centers Corp.		140,786		8,613,288
Simon Property Group, Inc.		298,893		33,467,049

				95,755,992

Semiconductors & Semiconductor Equipment — 6.4%
Advanced Micro Devices, Inc.^(a)		1,467,942		143,872,995
Analog Devices, Inc.		468,274		92,352,998
Applied Materials, Inc.		769,413		94,506,999
Broadcom, Inc.		381,373		244,666,034
Enphase Energy, Inc.^(a)		123,589		25,988,295
First Solar, Inc.^(a)		90,262		19,631,985
Intel Corp.		3,757,357		122,752,853
KLA Corp.		129,159		51,556,398
Lam Research Corp.		124,048		65,760,326
Microchip Technology, Inc.		500,525		41,933,984
Micron Technology, Inc.		989,617		59,713,490
Monolithic Power Systems, Inc.		40,785		20,414,524
NVIDIA Corp.		2,245,056		623,609,205
NXP Semiconductors NV		235,922		43,993,555
ON Semiconductor Corp.^(a)(b)		392,136		32,280,636
Qorvo, Inc.^(a)		91,828		9,326,970
QUALCOMM, Inc.		1,020,596		130,207,638
Skyworks Solutions, Inc.		147,286		17,376,802
SolarEdge Technologies, Inc.^(a)(b)		50,623		15,386,861
Teradyne, Inc.^(b)		142,480		15,318,025
Texas Instruments, Inc.		826,284		153,697,087

				2,024,347,660

Software — 9.3%
Adobe, Inc.^(a)		417,799		161,007,201
ANSYS, Inc.^(a)		78,984		26,285,875
Autodesk, Inc.^(a)		196,525		40,908,644
Cadence Design Systems, Inc.^(a)		249,746		52,469,137
Ceridian HCM Holding, Inc.^(a)(b)		140,965		10,321,457
Fair Isaac Corp.^(a)		22,957		16,131,654
Fortinet, Inc.^(a)		590,348		39,234,528
Gen Digital, Inc.		527,781		9,056,722
Intuit, Inc.		256,624		114,410,678
Microsoft Corp.		6,793,396		1,958,536,067
Oracle Corp.		1,399,167		130,010,598
Paycom Software, Inc.^(a)		44,246		13,451,226
PTC, Inc.^(a)		96,012		12,311,619
Roper Technologies, Inc.		96,647		42,591,366
Salesforce, Inc.^(a)		910,433		181,886,305
ServiceNow, Inc.^(a)		183,907		85,465,261
Synopsys, Inc.^(a)		139,361		53,828,186
Tyler Technologies, Inc.^(a)(b)		38,201		13,547,603

				2,961,454,127

Specialized REITs — 1.2%
American Tower Corp.		423,903		86,620,339
Crown Castle, Inc.		394,098		52,746,076
Digital Realty Trust, Inc.		262,877		25,843,438
Equinix, Inc.		84,174		60,692,821
Extra Space Storage, Inc.		121,276		19,759,499
Iron Mountain, Inc.		262,448		13,886,124


Security	Shares		Value

Specialized REITs (continued)
Public Storage		144,028	$	43,516,620
SBA Communications Corp.		98,835		25,802,853
VICI Properties, Inc.		881,221		28,745,429
Weyerhaeuser Co.		670,040		20,188,305

				377,801,504

Specialty Retail — 2.1%
Advance Auto Parts, Inc.		54,557		6,634,677
AutoZone, Inc.^(a)		17,280		42,476,832
Bath & Body Works, Inc.		208,330		7,620,711
Best Buy Co., Inc.		180,738		14,146,363
CarMax, Inc.^(a)(b)		143,103		9,198,661
Home Depot, Inc.		932,034		275,061,874
Lowe’s Cos., Inc.		551,867		110,356,844
O’Reilly Automotive, Inc.^(a)(b)		56,969		48,365,542
Ross Stores, Inc.		315,978		33,534,745
TJX Cos., Inc.		1,057,061		82,831,300
Tractor Supply Co.		100,461		23,612,353
Ulta Beauty, Inc.^(a)(b)		46,449		25,345,826

				679,185,728

Technology Hardware, Storage & Peripherals — 7.3%
Apple, Inc.		13,573,123		2,238,207,983
Hewlett Packard Enterprise Co.		1,164,129		18,544,575
HP, Inc.		805,929		23,654,016
NetApp, Inc.		195,848		12,504,895
Seagate Technology Holdings PLC^(b)		176,010		11,637,781
Western Digital Corp.^(a)		286,151		10,779,308

				2,315,328,558

Textiles, Apparel & Luxury Goods — 0.5%
NIKE, Inc., Class B		1,146,862		140,651,156
Ralph Lauren Corp.		37,193		4,339,307
Tapestry, Inc.		219,376		9,457,299
VF Corp.		305,300		6,994,423

				161,442,185

Tobacco — 0.7%
Altria Group, Inc.		1,631,654		72,804,401
Philip Morris International, Inc.		1,411,355		137,254,274

				210,058,675

Trading Companies & Distributors — 0.3%
Fastenal Co.		520,118		28,055,165
United Rentals, Inc.		62,801		24,854,124
W.W.Grainger, Inc.		40,977		28,225,367

				81,134,656


Security	Shares		Value

Water Utilities — 0.1%
American Water Works Co., Inc.		176,106	$	25,797,768


Wireless Telecommunication Services — 0.3%
T-Mobile U.S., Inc.^(a)(b)		543,705		78,750,232


Total Common Stocks — 98.7% (Cost: $15,163,127,153)				31,341,246,845


Investment Companies

Capital Markets — 0.8%
iShares Core S&P 500 ETF^(c)		644,887		265,100,148


Total Investment Companies — 0.8% (Cost: $250,826,429)				265,100,148


Total Long-Term Investments — 99.5% (Cost: $15,413,953,582)				31,606,346,993


Short-Term Securities

Money Market Funds — 0.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.01%^(c)(d)(e)		155,132,951		155,179,491
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.73%^(c)(d)		139,976,443		139,976,443


Total Short-Term Securities — 0.9% (Cost: $295,075,488)				295,155,934


Total Investments — 100.4% (Cost: $15,709,029,070)				31,901,502,927

Liabilities in Excess of Other Assets — (0.4)%				(127,758,207	)


Net Assets — 100.0%			$	31,773,744,720

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	Affiliate of the Master Portfolio.

^(d)	Annualized 7-day yield as of period end.

^(e)	All or a portion of this security was purchased with the cash collateral from loaned securities.

For Master Portfolio compliance purposes, the Master Portfolio’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Investments in issuers considered to be affiliate(s) of the Master Portfolio during the period ended March 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Master Portfolio’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Master Portfolio’s financial instruments categorized in the fair value hierarchy. The breakdown of the Master Portfolio’s financial instruments into major categories is disclosed in the Schedule of Investments above.


	Value
Master Portfolio - 100.0%
S&P 500 Index Master Portfolio		$ 302,120,524

Total Investments (Cost $302,120,524)		302,120,524
Net Other Assets (Liabilities) - 0.0% ^(A)		(119,701	)

Net Assets - 100.0%		$ 302,000,823



Affiliated Issuer	Value at 12/31/22		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 03/31/23		Shares Held at 03/31/23		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL
Agency Shares	$	304,198,748	$	—		$	(148,993,366	)^(a)	$	26,670		$	(52,561	)	$	155,179,491		155,132,951	$	153,766	^(b)	$	—
BlackRock Cash Funds: Treasury, SL
Agency Shares		113,361,188		26,615,255	^(a)		—			—			—			139,976,443		139,976,443		889,886			—
BlackRock, Inc.		97,239,626		—			(304,876	)		(54,454	)		(5,382,151	)		91,498,145		136,744		686,110			—
iShares Core S&P 500 ETF		195,527,543		445,435,278			(392,890,141	)		8,341,463			8,686,005			265,100,148		644,887		999,938			—

									$	8,313,679		$	3,251,293		$	651,754,227			$	2,729,700		$	—


M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S		1


	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Common Stocks	$	31,341,246,845	$	—	$	—	$	31,341,246,845
Investment Companies		265,100,148		—		—		265,100,148
Short-Term Securities
Money Market Funds		295,155,934		—		—		295,155,934

	$	31,901,502,927	$	—	$	—	$	31,901,502,927

Derivative Financial Instruments^(a)
Assets
Equity Contracts	$	8,394,295	$	—	$	—	$	8,394,295



ETF		Exchange-Traded Fund

MSCI		Morgan Stanley Capital International

S&P		Standard & Poor’s


(A)		Percentage rounds to less than 0.1% or (0.1)%.


Transamerica Funds			Page 1


Transamerica Funds			Page 2