Transamerica International Equity

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS - 98.8%
Australia - 4.0%
BHP Group Ltd., ADR (A)		110,976		$ 6,793,951
BHP Group Ltd.		533,500		16,321,903
Macquarie Group Ltd.		414,600		51,157,252
Santos Ltd.		10,274,900		51,928,726
Sonic Healthcare Ltd.		1,499,900		31,273,215
Westpac Banking Corp.		1,536,100		24,097,752
				181,572,799
Belgium - 3.4%
Anheuser-Busch InBev SA		1,383,300		85,567,605
Groupe Bruxelles Lambert NV		330,320		25,041,455
KBC Group NV		628,900		41,024,150
				151,633,210
Bermuda - 0.8%
Liberty Global Ltd., Class C (A) (B)		1,715,496		35,922,486
Canada - 0.7%
CCL Industries, Inc., Class B		528,600		22,623,113
TFI International, Inc.		73,400		9,646,358
				32,269,471
Denmark - 0.5%
Novo Nordisk AS, Class B		193,200		22,083,607
France - 10.9%
Accor SA		1,075,100		42,459,453
Amundi SA (C)		518,700		35,083,618
Capgemini SE		285,852		63,551,014
Cie de Saint-Gobain SA		470,437		33,262,968
Engie SA		719,900		11,498,582
Rexel SA		571,817		15,229,356
Sanofi SA		657,401		65,835,775
Societe Generale SA		1,676,000		43,081,613
Sodexo SA		409,700		46,217,824
TotalEnergies SE		981,300		63,662,411
Veolia Environnement SA		2,292,123		74,686,171
				494,568,785
Germany - 10.8%
Allianz SE		165,202		44,138,002
BASF SE		537,200		25,680,304
Deutsche Boerse AG		204,182		40,660,732
Deutsche Post AG		1,319,101		63,177,219
Heidelberg Materials AG		608,642		56,204,704
Infineon Technologies AG		1,464,527		53,392,148
K&S AG		722,900		10,139,562
SAP SE		578,047		100,144,663
Siemens AG		413,895		74,097,074
Zalando SE (B) (C)		1,091,700		21,797,568
				489,431,976
Hong Kong - 1.8%
CK Asset Holdings Ltd.		5,712,700		25,777,644
CK Hutchison Holdings Ltd.		10,528,400		54,377,292
				80,154,936
Ireland - 4.9%
AerCap Holdings NV (B)		829,849		63,533,240
AIB Group PLC		9,161,321		40,240,405

	Shares		Value
COMMON STOCKS (continued)
Ireland (continued)
DCC PLC		827,131		$  60,131,858
Ryanair Holdings PLC, ADR		48,972		6,542,659
Smurfit Kappa Group PLC		1,388,715		51,750,165
				222,198,327
Israel - 1.0%
Check Point Software Technologies Ltd. (B)		288,900		45,914,877
Italy - 0.3%
Prysmian SpA		346,266		15,239,109
Japan - 19.4%
Astellas Pharma, Inc.		3,056,900		35,589,874
Canon, Inc. (A)		1,119,100		30,827,987
Denka Co. Ltd.		565,180		9,855,733
FANUC Corp.		1,278,200		35,358,032
Fujitsu Ltd.		400,460		55,429,368
Hitachi Ltd.		1,003,280		78,807,994
Kyocera Corp.		2,629,300		38,493,136
Nintendo Co. Ltd.		1,010,000		56,429,598
Olympus Corp.		2,337,800		34,608,001
ORIX Corp.		3,404,500		65,738,394
Rakuten Group, Inc.		7,331,300		32,204,625
Renesas Electronics Corp. (B)		2,223,600		36,483,887
SBI Holdings, Inc.		2,276,900		55,933,541
Seven & i Holdings Co. Ltd.		1,550,800		61,248,562
Sony Group Corp.		963,400		94,479,008
Square Enix Holdings Co. Ltd.		419,600		16,396,387
Sumitomo Mitsui Financial Group, Inc.		1,343,000		69,853,927
Toyota Industries Corp.		846,600		71,604,667
				879,342,721
Luxembourg - 0.9%
ArcelorMittal SA		1,507,935		41,528,554
Netherlands - 4.4%
ASML Holding NV		77,200		66,977,784
EXOR NV		171,900		16,631,755
Heineken Holding NV		562,685		47,213,561
ING Groep NV, Series N		2,081,900		29,580,603
Koninklijke Philips NV		425,218		8,995,724
NXP Semiconductors NV		38,800		8,170,116
Stellantis NV		904,700		19,927,505
				197,497,048
Norway - 1.9%
Aker BP ASA		1,542,999		40,953,627
DNB Bank ASA		2,322,900		45,156,503
				86,110,130
Republic of Korea - 1.5%
Samsung Electronics Co. Ltd.		1,258,119		68,362,197
Singapore - 1.3%
DBS Group Holdings Ltd.		2,370,700		56,150,700
Sweden - 2.4%
Essity AB, Class B		1,897,300		44,554,846
Husqvarna AB, B Shares		1,061,200		8,254,978
Skandinaviska Enskilda Banken AB, Class A		2,705,100		38,418,199
Volvo AB, B Shares		738,337		17,694,483
				108,922,506
Switzerland - 8.5%
ABB Ltd.		1,039,600		43,987,350
Cie Financiere Richemont SA, Class A		373,200		55,433,091

Transamerica Funds Page 1  

Transamerica International Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Switzerland (continued)
Glencore PLC		6,793,400		$  35,943,595
Julius Baer Group Ltd.		417,454		22,726,779
Nestle SA		700,464		79,818,242
Novartis AG		543,515		56,206,907
Roche Holding AG		322,461		91,809,920
				385,925,884
United Kingdom - 18.5%
Ashtead Group PLC		690,600		45,159,638
Aviva PLC		4,960,512		27,077,321
Barratt Developments PLC		2,898,042		19,751,110
BP PLC		11,717,400		68,434,496
Bunzl PLC		714,948		29,055,319
Burberry Group PLC		793,800		13,075,412
CNH Industrial NV		3,630,200		43,562,400
Dowlais Group PLC		4,624,873		5,283,046
Entain PLC		2,104,200		25,629,982
GSK PLC		2,542,680		50,288,447
Inchcape PLC		3,134,396		26,989,500
Informa PLC		2,523,351		24,783,215
Kingfisher PLC		12,308,700		34,222,185
Legal & General Group PLC		15,456,200		49,713,974
Lloyds Banking Group PLC		92,540,154		49,606,642
Pearson PLC		770,100		9,447,415
Persimmon PLC		1,396,700		25,724,566
Reckitt Benckiser Group PLC		897,900		64,918,973
Shell PLC		1,703,700		52,818,632
Smith & Nephew PLC		3,903,000		54,583,461
Tesco PLC		14,259,432		51,670,755
Unilever PLC		1,285,814		62,567,984
				834,364,473
United States - 0.9%
Linde PLC		104,800		42,426,184
Total Common Stocks (Cost $3,728,178,330)				4,471,619,980
PREFERRED STOCK - 0.6%
Germany - 0.6%
Henkel AG & Co. KGaA, 2.62% (D)		355,810		27,275,868
Total Preferred Stock (Cost $27,536,091)				27,275,868
OTHER INVESTMENT COMPANY - 0.1%
Securities Lending Collateral - 0.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (D)		2,750,449		2,750,449
Total Other Investment Company (Cost $2,750,449)				2,750,449

	Principal		Value
REPURCHASE AGREEMENT - 0.7%
Fixed Income Clearing Corp., 2.50% (D), dated 01/31/2024, to be repurchased at $30,205,782 on 02/01/2024. Collateralized by a U.S. Government Obligation, 0.13%, due 07/15/2026, and with a value of $30,807,776.		$ 30,203,685		$ 30,203,685
Total Repurchase Agreement (Cost $30,203,685)				30,203,685
Total Investments (Cost $3,788,668,555)				4,531,849,982
Net Other Assets (Liabilities) - (0.2)%				(7,955,429	)
Net Assets - 100.0%				$ 4,523,894,553

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Transamerica International Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Banks		9.7	%		$	437,210,494
Pharmaceuticals		7.1				321,814,530
Oil, Gas & Consumable Fuels		6.1				277,797,892
Industrial Conglomerates		5.9				267,414,218
Capital Markets		4.5				205,561,922
Machinery		3.9				176,474,560
Semiconductors & Semiconductor Equipment		3.6				165,023,935
Trading Companies & Distributors		3.4				152,977,553
Software		3.2				146,059,540
Household Durables		3.1				139,954,684
Household Products		3.0				136,749,687
Beverages		2.9				132,781,166
Insurance		2.7				120,929,297
IT Services		2.6				118,980,382
Hotels, Restaurants & Leisure		2.5				114,307,259
Consumer Staples Distribution & Retail		2.5				112,919,317
Financial Services		2.4				107,411,604
Metals & Mining		2.2				100,588,003
Technology Hardware, Storage & Peripherals		2.2				99,190,184
Health Care Equipment & Supplies		2.2				98,187,186
Chemicals		2.0				88,101,783
Multi-Utilities		1.9				86,184,753
Food Products		1.8				79,818,242
Containers & Packaging		1.6				74,373,278
Entertainment		1.6				72,825,985
Textiles, Apparel & Luxury Goods		1.5				68,508,503
Air Freight & Logistics		1.4				63,177,219
Personal Care Products		1.4				62,567,984
Electrical Equipment		1.3				59,226,459
Construction Materials		1.2				56,204,704
Specialty Retail		1.2				56,019,753
Electronic Equipment, Instruments & Components		0.9				38,493,136
Diversified Telecommunication Services		0.8				35,922,486
Building Products		0.7				33,262,968
Broadline Retail		0.7				32,204,625
Health Care Providers & Services		0.7				31,273,215
Distributors		0.6				26,989,500
Real Estate Management & Development		0.6				25,777,644
Media		0.6				24,783,215
Automobiles		0.4				19,927,505
Ground Transportation		0.2				9,646,358
Diversified Consumer Services		0.2				9,447,415
Passenger Airlines		0.2				6,542,659
Automobile Components		0.1				5,283,046
Investments		99.3				4,498,895,848
Short-Term Investments		0.7				32,954,134
Total Investments		100.0	%		$	4,531,849,982

Transamerica Funds Page 3  

Transamerica International Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

INVESTMENT VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	285,135,384	$	4,186,484,596	$	—	$	4,471,619,980
Preferred Stock		—		27,275,868		—		27,275,868
Other Investment Company		2,750,449		—		—		2,750,449
Repurchase Agreement		—		30,203,685		—		30,203,685
Total Investments	$	287,885,833	$	4,243,964,149	$	—	$	4,531,849,982

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of the securities are on loan. The total value of all securities on loan is $4,063,384, collateralized by cash collateral of $2,750,449 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $1,441,560. 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)	Non-income producing securities.
(C)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2024, the total value of 144A securities is $56,881,186, representing 1.3% of the Fund’s net assets.
(D)	Rates disclosed reflect the yields at January 31, 2024.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

Transamerica Funds Page 4  

Transamerica International Equity

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

INVESTMENT VALUATION

Transamerica International Equity (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 (“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, 2024, 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.

Transamerica Funds Page 5