Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS

At July 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS - 97.4%
Banks - 8.0%
Citizens Financial Group, Inc.		22,263		$  718,204
Fifth Third Bancorp		28,951		842,474
First Citizens BancShares, Inc., Class A		545		780,059
Huntington Bancshares, Inc.		80,271		982,517
M&T Bank Corp.		8,756		1,224,614
Regions Financial Corp.		54,387		1,107,863
				5,655,731
Beverages - 1.7%
Constellation Brands, Inc., Class A		2,260		616,528
Keurig Dr. Pepper, Inc.		17,668		600,889
				1,217,417
Building Products - 2.3%
Carlisle Cos., Inc.		2,574		713,513
Fortune Brands Innovations, Inc.		12,320		875,582
				1,589,095
Capital Markets - 6.1%
Ameriprise Financial, Inc.		4,225		1,472,201
Northern Trust Corp.		6,039		483,845
Raymond James Financial, Inc.		8,898		979,403
State Street Corp.		11,329		820,673
T. Rowe Price Group, Inc.		4,544		560,093
				4,316,215
Chemicals - 1.6%
Celanese Corp.		2,041		255,921
RPM International, Inc.		8,441		872,040
				1,127,961
Communications Equipment - 0.7%
Motorola Solutions, Inc.		1,696		486,124
Construction Materials - 1.5%
Martin Marietta Materials, Inc.		2,401		1,071,950
Consumer Finance - 0.7%
Discover Financial Services		4,732		499,463
Consumer Staples Distribution & Retail - 1.7%
Kroger Co.		10,768		523,756
US Foods Holding Corp. (A)		16,392		700,430
				1,224,186
Containers & Packaging - 2.7%
Ball Corp.		7,339		430,726
Packaging Corp. of America		5,207		798,494
Silgan Holdings, Inc.		14,712		645,121
				1,874,341
Distributors - 2.1%
Genuine Parts Co.		3,313		515,900
LKQ Corp.		17,082		935,923
				1,451,823
Diversified REITs - 0.6%
WP Carey, Inc.		6,657		449,547

	Shares		Value
COMMON STOCKS (continued)
Electric Utilities - 3.4%
Edison International		7,994		$   575,248
PG&E Corp. (A)		46,618		820,943
Xcel Energy, Inc.		16,337		1,024,820
				2,421,011
Electrical Equipment - 3.7%
Acuity Brands, Inc.		3,691		609,901
AMETEK, Inc.		6,143		974,280
Hubbell, Inc.		3,397		1,059,864
				2,644,045
Electronic Equipment, Instruments & Components - 4.7%
Amphenol Corp., Class A		8,466		747,632
CDW Corp.		4,671		873,804
Jabil, Inc.		6,036		668,004
Teledyne Technologies, Inc. (A)		2,030		780,596
Zebra Technologies Corp., Class A (A)		828		254,991
				3,325,027
Entertainment - 0.7%
Take-Two Interactive Software, Inc. (A)		3,278		501,337
Financial Services - 2.2%
FleetCor Technologies, Inc. (A)		1,640		408,212
MGIC Investment Corp.		34,764		581,949
Voya Financial, Inc.		7,241		537,717
				1,527,878
Food Products - 0.6%
Post Holdings, Inc. (A)		5,107		435,627
Gas Utilities - 0.7%
National Fuel Gas Co.		8,800		467,368
Health Care Equipment & Supplies - 1.6%
Globus Medical, Inc., Class A (A)		6,121		368,913
Zimmer Biomet Holdings, Inc.		5,610		775,021
				1,143,934
Health Care Providers & Services - 5.0%
AmerisourceBergen Corp.		5,640		1,054,116
Henry Schein, Inc. (A)		13,140		1,035,301
Laboratory Corp. of America Holdings		2,676		572,477
Quest Diagnostics, Inc.		4,106		555,172
Universal Health Services, Inc., Class B		2,488		345,732
				3,562,798
Health Care REITs - 0.4%
Ventas, Inc.		6,220		301,794
Hotel & Resort REITs - 0.4%
Host Hotels & Resorts, Inc.		15,780		290,352
Hotels, Restaurants & Leisure - 1.7%
Darden Restaurants, Inc.		3,558		601,017
Expedia Group, Inc. (A)		4,952		606,769
				1,207,786
Household Durables - 1.2%
Mohawk Industries, Inc. (A)		4,411		469,066
Newell Brands, Inc.		33,757		376,728
				845,794
Household Products - 0.6%
Energizer Holdings, Inc.		10,957		391,165

Transamerica Funds Page    1

Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Industrial REITs - 0.4%
Rexford Industrial Realty, Inc.		5,535		$   304,923
Insurance - 6.0%
Arch Capital Group Ltd. (A)		12,864		999,404
Globe Life, Inc.		4,028		451,821
Hartford Financial Services Group, Inc.		10,803		776,520
Loews Corp.		19,697		1,234,017
RenaissanceRe Holdings Ltd.		1,218		227,474
W.R. Berkley Corp.		9,192		567,054
				4,256,290
Interactive Media & Services - 1.2%
IAC, Inc. (A)		11,923		829,841
IT Services - 0.7%
GoDaddy, Inc., Class A (A)		6,710		517,274
Machinery - 8.3%
Dover Corp.		4,858		709,122
IDEX Corp.		2,965		669,527
ITT, Inc.		9,187		915,025
Lincoln Electric Holdings, Inc.		4,814		966,218
Middleby Corp. (A)		5,652		858,256
Snap-on, Inc.		3,914		1,066,330
Timken Co.		7,415		688,557
				5,873,035
Media - 1.0%
Liberty Media Corp. - Liberty SiriusXM, Class C (A)		21,604		687,655
Metals & Mining - 0.4%
Freeport-McMoRan, Inc.		6,586		294,065
Multi-Utilities - 3.2%
CMS Energy Corp.		18,632		1,137,856
WEC Energy Group, Inc.		12,336		1,108,513
				2,246,369
Office REITs - 0.6%
Boston Properties, Inc.		6,641		442,490
Oil, Gas & Consumable Fuels - 3.4%
Coterra Energy, Inc.		23,936		659,198
Diamondback Energy, Inc.		4,947		728,792
Williams Cos., Inc.		29,134		1,003,666
				2,391,656
Passenger Airlines - 0.5%
Southwest Airlines Co.		9,287		317,244
Pharmaceuticals - 0.8%
Jazz Pharmaceuticals PLC (A)		4,524		590,020
Real Estate Management & Development - 0.9%
CBRE Group, Inc., Class A (A)		7,935		661,065
Residential REITs - 3.1%
American Homes 4 Rent, , Class A		17,545		657,587
AvalonBay Communities, Inc.		3,076		580,287
Essex Property Trust, Inc.		1,369		333,420
Mid-America Apartment Communities, Inc.		2,378		355,892
Sun Communities, Inc.		2,187		284,966
				2,212,152

	Shares		Value
COMMON STOCKS (continued)
Retail REITs - 2.4%
Brixmor Property Group, Inc.		19,565		$   444,908
Federal Realty Investment Trust		3,132		317,960
Kimco Realty Corp.		25,491		516,448
Regency Centers Corp.		5,941		389,314
				1,668,630
Semiconductors & Semiconductor Equipment - 0.6%
Microchip Technology, Inc.		4,307		404,600
Specialized REITs - 2.0%
Rayonier, Inc.		19,839		657,068
Weyerhaeuser Co.		21,234		723,230
				1,380,298
Specialty Retail - 2.3%
AutoZone, Inc. (A)		297		737,071
Bath & Body Works, Inc.		12,114		448,945
Best Buy Co., Inc.		4,885		405,699
				1,591,715
Textiles, Apparel & Luxury Goods - 3.0%
Carter’s, Inc.		7,717		578,852
Ralph Lauren Corp.		5,839		766,836
Tapestry, Inc.		17,645		761,382
				2,107,070
Total Common Stocks (Cost $41,893,579)				68,806,161
	Principal		Value
REPURCHASE AGREEMENT - 2.8%
Fixed Income Clearing Corp., 2.50% (B), dated 07/31/2023, to be repurchased at $1,961,018 on 08/01/2023. Collateralized by a U.S. Government Obligation, 1.50%, due 08/15/2026, and with a value of $2,000,170.		$  1,960,882		1,960,882
Total Repurchase Agreement (Cost $1,960,882)				1,960,882
Total Investments (Cost $43,854,461)				70,767,043
Net Other Assets (Liabilities) - (0.2)%				(158,825	)
Net Assets - 100.0%				$  70,608,218

Transamerica Funds Page    2

Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2023

(unaudited)

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	$	68,806,161	$	—	$	—	$	68,806,161
Repurchase Agreement		—		1,960,882		—		1,960,882
Total Investments	$	68,806,161	$	1,960,882	$	—	$	70,767,043

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Rate disclosed reflects the yield at July 31, 2023.
(C)	There were no transfers in or out of Level 3 during the period ended July 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    3

Transamerica Mid Cap Value

NOTES TO SCHEDULE OF INVESTMENTS

At July 31, 2023

(unaudited)

INVESTMENT VALUATION

Transamerica Mid Cap Value (the “Fund”) is a series of the Transamerica Funds.

Transamerica Asset Management, Inc. (“TAM”) has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, 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 July 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.

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.

SUBSEQUENT EVENT

The Board has approved the liquidation of the Fund effective on or about August 29, 2023.

Transamerica Funds Page    4