NPORT-EX 2 NPORT_IBDK_22439519_0124.htm HTML

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

     Shares      Value  
COMMON STOCKS - 60.0%  
Aerospace & Defense - 0.9%  

Howmet Aerospace, Inc.

      42,467        $ 2,389,193  

RTX Corp.

      55,382        5,046,408  

Textron, Inc.

      34,301        2,905,638  
     

 

 

  
        10,341,239  
     

 

 

  
Air Freight & Logistics - 0.6%  

FedEx Corp.

      8,125        1,960,481  

United Parcel Service, Inc., Class B

      35,152        4,988,069  
     

 

 

  
        6,948,550  
     

 

 

  
Automobile Components - 0.1%  

Aptiv PLC (A)

      15,496        1,260,290  

BorgWarner, Inc.

      3,954        134,040  
     

 

 

  
        1,394,330  
     

 

 

  
Automobiles - 0.7%  

Tesla, Inc. (A)

      43,776        8,198,807  
     

 

 

  
Banks - 2.1%  

Bank of America Corp.

      250,626        8,523,790  

Fifth Third Bancorp

      78,707        2,694,928  

Truist Financial Corp.

      107,645        3,989,324  

US Bancorp

      90,651        3,765,642  

Wells Fargo & Co.

      116,594        5,850,687  
     

 

 

  
        24,824,371  
     

 

 

  
Beverages - 1.1%  

Coca-Cola Co.

      109,960        6,541,521  

Monster Beverage Corp. (A)

      15,307        842,191  

PepsiCo, Inc.

      36,021        6,070,619  
     

 

 

  
        13,454,331  
     

 

 

  
Biotechnology - 1.8%  

AbbVie, Inc.

      55,044        9,049,234  

Biogen, Inc. (A)

      8,515        2,100,310  

BioMarin Pharmaceutical, Inc. (A)

      6,744        594,011  

Neurocrine Biosciences, Inc. (A)

      3,721        520,084  

Regeneron Pharmaceuticals, Inc. (A)

      4,878        4,598,881  

Sarepta Therapeutics, Inc. (A)

      2,597        309,017  

Vertex Pharmaceuticals, Inc. (A)

      10,770        4,667,503  
     

 

 

  
        21,839,040  
     

 

 

  
Broadline Retail - 2.4%  

Amazon.com, Inc. (A)

      185,936        28,857,267  
     

 

 

  
Building Products - 0.6%  

Masco Corp.

      26,961        1,814,205  

Trane Technologies PLC

      20,836        5,251,714  
     

 

 

  
        7,065,919  
     

 

 

  
Capital Markets - 1.5%  

Blackstone, Inc.

      5,129        638,304  

Charles Schwab Corp.

      48,195        3,032,429  

CME Group, Inc.

      12,565        2,586,379  

Goldman Sachs Group, Inc.

      4,942        1,897,777  

Intercontinental Exchange, Inc.

      29,457        3,750,760  

Morgan Stanley

      26,582        2,319,014  

S&P Global, Inc.

      6,228        2,792,324  

State Street Corp.

      8,648        638,828  
     

 

 

  
        17,655,815  
     

 

 

  
     Shares      Value  
COMMON STOCKS (continued)  
Chemicals - 1.2%  

Air Products & Chemicals, Inc.

      4,407        $  1,126,914  

Dow, Inc.

      63,824        3,420,967  

Eastman Chemical Co.

      20,066        1,676,514  

Linde PLC

      12,154        4,920,304  

LyondellBasell Industries NV, Class A

      19,995        1,881,929  

PPG Industries, Inc.

      7,116        1,003,641  
     

 

 

  
        14,030,269  
     

 

 

  
Commercial Services & Supplies - 0.1%  

Cintas Corp.

      1,226        741,203  
     

 

 

  
Communications Equipment - 0.1%  

Motorola Solutions, Inc.

      3,990        1,274,805  
     

 

 

  
Consumer Finance - 0.1%  

Capital One Financial Corp.

      8,180        1,106,918  
     

 

 

  
Consumer Staples Distribution & Retail - 1.3%  

Costco Wholesale Corp.

      10,299        7,156,569  

Dollar Tree, Inc. (A)

      6,386        834,140  

Target Corp.

      22,803        3,171,441  

Walmart, Inc.

      23,225        3,837,931  
     

 

 

  
        15,000,081  
     

 

 

  
Containers & Packaging - 0.0% (B)  

International Paper Co.

      5,725        205,127  
     

 

 

  
Distributors - 0.0% (B)  

LKQ Corp.

      12,167        567,834  
     

 

 

  
Electric Utilities - 1.1%  

Constellation Energy Corp.

      7,773        948,306  

NextEra Energy, Inc.

      69,075        4,049,867  

PG&E Corp.

      222,108        3,746,962  

Southern Co.

      65,538        4,556,202  
     

 

 

  
        13,301,337  
     

 

 

  
Electrical Equipment - 0.4%  

Eaton Corp. PLC

      18,551        4,565,030  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.2%  

Corning, Inc.

      21,978        714,065  

Keysight Technologies, Inc. (A)

      11,505        1,763,256  
     

 

 

  
        2,477,321  
     

 

 

  
Energy Equipment & Services - 0.1%  

Baker Hughes Co.

      25,188        717,858  
     

 

 

  
Entertainment - 0.4%  

Netflix, Inc. (A)

      6,916        3,901,385  

Warner Bros Discovery, Inc. (A)

      48,476        485,729  
     

 

 

  
        4,387,114  
     

 

 

  
Financial Services - 2.9%  

Berkshire Hathaway, Inc., Class B (A)

      26,125        10,025,208  

Block, Inc. (A)

      4,619        300,281  

Fiserv, Inc. (A)

      7,707        1,093,392  

FleetCor Technologies, Inc. (A)

      9,598        2,782,748  

Mastercard, Inc., Class A

      25,894        11,632,362  

Visa, Inc., Class A

      33,136        9,054,743  
     

 

 

  
        34,888,734  
     

 

 

  
Food Products - 0.5%  

Mondelez International, Inc., Class A

      76,655        5,769,822  
     

 

 

  
 

 

Transamerica Funds

     Page 1      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Ground Transportation - 0.7%  

CSX Corp.

      41,366        $  1,476,766  

Norfolk Southern Corp.

      7,742        1,821,228  

Uber Technologies, Inc. (A)

      45,890        2,995,240  

Union Pacific Corp.

      8,324        2,030,474  
     

 

 

  
        8,323,708  
     

 

 

  
Health Care Equipment & Supplies - 1.5%  

Baxter International, Inc.

      27,233        1,053,645  

Becton Dickinson & Co.

      4,922        1,175,423  

Boston Scientific Corp. (A)

      84,410        5,339,777  

Dexcom, Inc. (A)

      6,721        815,593  

Intuitive Surgical, Inc. (A)

      4,239        1,603,274  

Medtronic PLC

      46,040        4,030,342  

Stryker Corp.

      10,958        3,676,190  
     

 

 

  
        17,694,244  
     

 

 

  
Health Care Providers & Services - 1.7%  

Centene Corp. (A)

      28,028        2,110,789  

CVS Health Corp.

      12,980        965,323  

Elevance Health, Inc.

      6,528        3,221,176  

Humana, Inc.

      3,554        1,343,625  

McKesson Corp.

      2,291        1,145,248  

UnitedHealth Group, Inc.

      20,997        10,745,005  
     

 

 

  
        19,531,166  
     

 

 

  
Health Care REITs - 0.3%  

Ventas, Inc.

      48,608        2,254,925  

Welltower, Inc.

      14,091        1,219,013  
     

 

 

  
        3,473,938  
     

 

 

  
Hotels, Restaurants & Leisure - 1.6%  

Booking Holdings, Inc. (A)

      1,416        4,966,577  

Chipotle Mexican Grill, Inc. (A)

      1,795        4,323,742  

Expedia Group, Inc. (A)

      19,260        2,856,836  

Marriott International, Inc., Class A

      8,494        2,036,267  

Royal Caribbean Cruises Ltd. (A)

      16,595        2,115,862  

Yum! Brands, Inc.

      23,093        2,990,313  
     

 

 

  
        19,289,597  
     

 

 

  
Household Durables - 0.2%  

Lennar Corp., Class A

      6,573        984,964  

Toll Brothers, Inc.

      8,240        818,644  
     

 

 

  
        1,803,608  
     

 

 

  
Household Products - 0.5%  

Church & Dwight Co., Inc.

      18,004        1,797,699  

Procter & Gamble Co.

      28,832        4,530,661  
     

 

 

  
        6,328,360  
     

 

 

  
Industrial Conglomerates - 0.6%  

Honeywell International, Inc.

      35,847        7,250,414  
     

 

 

  
Industrial REITs - 0.4%  

Prologis, Inc.

      40,176        5,089,897  
     

 

 

  
Insurance - 1.4%  

Aflac, Inc.

      20,548        1,733,018  

Chubb Ltd.

      10,000        2,450,000  

Globe Life, Inc.

      12,357        1,517,687  

MetLife, Inc.

      24,127        1,672,484  

Progressive Corp.

      26,432        4,711,504  

Travelers Cos., Inc.

      20,600        4,354,016  
     

 

 

  
        16,438,709  
     

 

 

  
     Shares      Value  
COMMON STOCKS (continued)  
Interactive Media & Services - 3.6%  

Alphabet, Inc., Class A (A)

      103,462        $  14,495,026  

Alphabet, Inc., Class C (A)

      71,912        10,197,122  

Meta Platforms, Inc., Class A (A)

      45,778        17,859,829  
     

 

 

  
        42,551,977  
     

 

 

  
IT Services - 0.8%  

Accenture PLC, Class A

      16,669        6,065,516  

Cognizant Technology Solutions Corp., Class A

      42,150        3,250,608  
     

 

 

  
        9,316,124  
     

 

 

  
Life Sciences Tools & Services - 0.8%  

Danaher Corp.

      19,121        4,587,319  

Thermo Fisher Scientific, Inc.

      8,837        4,762,966  
     

 

 

  
        9,350,285  
     

 

 

  
Machinery - 1.0%  

Deere & Co.

      15,532        6,113,085  

Dover Corp.

      10,476        1,569,095  

Ingersoll Rand, Inc.

      7,406        591,443  

Otis Worldwide Corp.

      41,863        3,702,364  
     

 

 

  
        11,975,987  
     

 

 

  
Media - 0.8%  

Charter Communications, Inc., Class A (A)

      7,144        2,648,352  

Comcast Corp., Class A

      136,150        6,336,421  

Liberty Media Corp. - Liberty SiriusXM, Class A (A)

      17,142        520,946  
     

 

 

  
        9,505,719  
     

 

 

  
Metals & Mining - 0.1%  

Nucor Corp.

      6,358        1,188,501  
     

 

 

  
Multi-Utilities - 0.2%  

DTE Energy Co.

      3,152        332,284  

Public Service Enterprise Group, Inc.

      43,338        2,513,170  
     

 

 

  
        2,845,454  
     

 

 

  
Oil, Gas & Consumable Fuels - 2.3%  

Chevron Corp.

      19,484        2,872,526  

ConocoPhillips

      40,988        4,585,327  

Diamondback Energy, Inc.

      18,600        2,859,564  

EOG Resources, Inc.

      39,235        4,464,551  

Exxon Mobil Corp.

      107,844        11,087,441  

Marathon Oil Corp.

      19,948        455,812  

Pioneer Natural Resources Co.

      1,302        299,239  
     

 

 

  
        26,624,460  
     

 

 

  
Passenger Airlines - 0.1%  

Delta Air Lines, Inc.

      25,243        988,011  
     

 

 

  
Personal Care Products - 0.2%  

Kenvue, Inc.

      87,377        1,813,947  
     

 

 

  
Pharmaceuticals - 1.9%  

Bristol-Myers Squibb Co.

      97,460        4,762,870  

Eli Lilly & Co.

      12,507        8,074,644  

Johnson & Johnson

      32,215        5,118,964  

Merck & Co., Inc.

      37,703        4,553,768  
     

 

 

  
        22,510,246  
     

 

 

  
Professional Services - 0.1%  

Leidos Holdings, Inc.

      14,967        1,653,404  
     

 

 

  
 

 

Transamerica Funds

     Page 2      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Shares      Value  
COMMON STOCKS (continued)  
Residential REITs - 0.2%  

Equity LifeStyle Properties, Inc.

      17,431        $  1,179,904  

Sun Communities, Inc.

      6,195        776,543  

UDR, Inc.

      6,441        232,005  
     

 

 

  
        2,188,452  
     

 

 

  
Semiconductors & Semiconductor Equipment - 5.8%  

Advanced Micro Devices, Inc. (A)

      41,649        6,984,121  

Analog Devices, Inc.

      27,475        5,285,091  

Broadcom, Inc.

      3,451        4,072,180  

Lam Research Corp.

      7,520        6,205,278  

Micron Technology, Inc.

      19,471        1,669,638  

NVIDIA Corp.

      47,958        29,507,119  

NXP Semiconductors NV

      27,754        5,844,160  

Qorvo, Inc. (A)

      9,812        978,649  

Teradyne, Inc.

      15,193        1,467,492  

Texas Instruments, Inc.

      39,730        6,361,567  
     

 

 

  
        68,375,295  
     

 

 

  
Software - 6.6%  

Adobe, Inc. (A)

      12,918        7,980,482  

Cadence Design Systems, Inc. (A)

      4,815        1,388,935  

Intuit, Inc.

      8,576        5,414,286  

Microsoft Corp.

      141,211        56,142,669  

Oracle Corp.

      21,001        2,345,812  

ServiceNow, Inc. (A)

      6,719        5,142,723  
     

 

 

  
        78,414,907  
     

 

 

  
Specialized REITs - 0.4%  

Digital Realty Trust, Inc.

      18,744        2,632,782  

SBA Communications Corp.

      9,686        2,168,308  
     

 

 

  
        4,801,090  
     

 

 

  
Specialty Retail - 1.5%  

AutoNation, Inc. (A)

      7,444        1,039,629  

AutoZone, Inc. (A)

      1,664        4,596,184  

Best Buy Co., Inc.

      27,963        2,027,038  

Burlington Stores, Inc. (A)

      7,535        1,440,315  

Lowe’s Cos., Inc.

      30,587        6,510,137  

O’Reilly Automotive, Inc. (A)

      403        412,289  

TJX Cos., Inc.

      23,474        2,227,918  
     

 

 

  
        18,253,510  
     

 

 

  
Technology Hardware, Storage & Peripherals - 4.1%  

Apple, Inc.

      245,119        45,199,943  

Seagate Technology Holdings PLC

      34,900        2,990,232  

Western Digital Corp. (A)

      5,671        324,665  
     

 

 

  
        48,514,840  
     

 

 

  
Tobacco - 0.2%  

Altria Group, Inc.

      18,447        740,094  

Philip Morris International, Inc.

      19,151        1,739,868  
     

 

 

  
        2,479,962  
     

 

 

  
Trading Companies & Distributors - 0.1%  

United Rentals, Inc.

      2,223        1,390,264  
     

 

 

  
Wireless Telecommunication Services - 0.1%  

T-Mobile US, Inc.

      7,178        1,157,309  
     

 

 

  

Total Common Stocks
(Cost $363,444,976)

 

      710,736,507  
     

 

 

  
     Shares      Value  
PREFERRED STOCK - 0.1%  
Banks - 0.1%  

Citigroup Capital XIII,

      

3-Month Term SOFR + 6.63%,
11.95% (C)

      29,988        $  870,552  
     

 

 

  

Total Preferred Stock
(Cost $848,517)

 

      870,552  
     

 

 

  
     Principal      Value  
ASSET-BACKED SECURITIES - 2.0%  

321 Henderson Receivables VI LLC

      

Series 2010-1A, Class A,

      

5.56%, 07/15/2059 (D)

      $ 123,625        123,515  

Accelerated LLC

      

Series 2021-1H, Class A,

      

1.35%, 10/20/2040 (D)

      194,169        178,163  

Avis Budget Rental Car Funding AESOP LLC

      

Series 2023-7A, Class A,

      

5.90%, 08/21/2028 (D)

      1,115,000        1,142,686  

Series 2024-1A, Class A,

      

5.36%, 06/20/2030 (D)

      930,000        941,051  

BRE Grand Islander Timeshare Issuer LLC

      

Series 2017-1A, Class A,

      

2.94%, 05/25/2029 (D)

      77,742        75,910  

BXG Receivables Note Trust

      

Series 2023-A, Class A,

      

5.77%, 11/15/2038 (D)

      912,254        917,633  

Chase Issuance Trust

      

Series 2023-A1, Class A,

      

5.16%, 09/15/2028

      990,000        1,005,611  

CIFC Funding Ltd.

      

Series 2013-2A, Class A1L2,

      

3-Month Term SOFR + 1.26%,
6.56% (C), 10/18/2030 (D)

      2,218,620        2,221,770  

First National Master Note Trust

      

Series 2023-2, Class A,

      

5.77%, 09/15/2029

      1,005,000        1,028,068  

GM Financial Consumer Automobile Receivables Trust

      

Series 2023-1, Class A2A,

      

5.19%, 03/16/2026

      772,899        771,573  

GoodLeap Sustainable Home Solutions Trust

      

Series 2021-4GS, Class A,

      

1.93%, 07/20/2048 (D)

      721,291        553,506  

Series 2021-5CS, Class A,

      

2.31%, 10/20/2048 (D)

      840,716        666,818  

Series 2022-1GS, Class A,

      

2.70%, 01/20/2049 (D)

      1,095,917        890,910  

Hertz Vehicle Financing III LLC

      

Series 2023-3A, Class A,

      

5.94%, 02/25/2028 (D)

      890,000        907,177  

Hilton Grand Vacations Trust

      

Series 2023-1A, Class A,

      

5.72%, 01/25/2038 (D)

      752,256        764,117  

ICG US CLO Ltd.

      

Series 2014-1A, Class A1A2,

      

3-Month Term SOFR + 1.46%,
6.78% (C), 10/20/2034 (D)

      2,200,000        2,190,085  

JG Wentworth XXII LLC

      

Series 2010-3A, Class A,

      

3.82%, 12/15/2048 (D)

      187,953        187,314  
 

 

Transamerica Funds

     Page 3      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES (continued)  

JGWPT XXVIII LLC

      

Series 2013-1A, Class A,

      

3.22%, 04/15/2067 (D)

      $  599,485        $  543,406  

Laurel Road Prime Student Loan Trust

      

Series 2018-B, Class A2FX,

      

3.54%, 05/26/2043 (D)

      8,677        8,632  

MVW LLC

      

Series 2021-1WA, Class A,

      

1.14%, 01/22/2041 (D)

      346,837        321,178  

MVW Owner Trust

      

Series 2019-1A, Class A,

      

2.89%, 11/20/2036 (D)

      65,614        63,340  

Series 2023-1A, Class A,

      

4.93%, 10/20/2040 (D)

      739,573        734,998  

Octagon Investment Partners 33 Ltd.

      

Series 2017-1A, Class A1,

      

3-Month Term SOFR + 1.45%,
6.77% (C), 01/20/2031 (D)

      671,928        672,881  

Orange Lake Timeshare Trust

      

Series 2016-A, Class A,

      

2.61%, 03/08/2029 (D)

      94,937        92,646  

Series 2018-A, Class A,

      

3.10%, 11/08/2030 (D)

      19,460        18,944  

Series 2018-A, Class B,

      

3.35%, 11/08/2030 (D)

      15,921        15,493  

Series 2019-A, Class A,

      

3.06%, 04/09/2038 (D)

      152,416        148,145  

Palmer Square CLO Ltd.

      

Series 2015-2A, Class A1R2,

      

3-Month Term SOFR + 1.36%,
6.68% (C), 07/20/2030 (D)

      1,171,792        1,172,267  

Sierra Timeshare Receivables Funding LLC

      

Series 2020-2A, Class A,

      

1.33%, 07/20/2037 (D)

      133,178        127,391  

Series 2021-1A, Class A,

      

0.99%, 11/20/2037 (D)

      412,919        390,233  

Series 2023-1A, Class A,

      

5.20%, 01/20/2040 (D)

      951,485        954,346  

Series 2023-2A, Class A,

      

5.80%, 04/20/2040 (D)

      664,945        675,450  

Series 2023-3A, Class A,

      

6.10%, 09/20/2040 (D)

      1,315,441        1,346,668  

Trafigura Securitisation Finance PLC

      

Series 2021-1A, Class A2,

      

1.08%, 01/15/2025 (D)

      1,300,000        1,256,492  

Veridian Auto Receivables Trust

      

Series 2023-1A, Class A2,

      

5.97%, 08/17/2026 (D)

      619,369        619,331  

Wellfleet CLO Ltd.

      

Series 2016-2A, Class A1R,

      

3-Month Term SOFR + 1.40%,
6.72% (C), 10/20/2028 (D)

      58,881        58,895  
     

 

 

  

Total Asset-Backed Securities
(Cost $24,389,638)

 

      23,786,643  
     

 

 

  
CORPORATE DEBT SECURITIES - 13.1%  
Aerospace & Defense - 0.3%  

Boeing Co.

      

3.50%, 03/01/2039

      1,494,000        1,176,684  

5.15%, 05/01/2030

      872,000        872,930  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Aerospace & Defense (continued)  

HEICO Corp.

      

5.35%, 08/01/2033

      $  1,138,000        $  1,155,161  
     

 

 

  
        3,204,775  
     

 

 

  
Automobile Components - 0.0% (B)  

Aptiv PLC/Aptiv Corp.

      

3.25%, 03/01/2032

      554,000        487,903  
     

 

 

  
Automobiles - 0.5%  

BMW US Capital LLC

      

2.80%, 04/11/2026 (D)

      806,000        775,377  

Ford Motor Credit Co. LLC

      

3.38%, 11/13/2025

      1,497,000        1,436,675  

General Motors Co.

      

6.25%, 10/02/2043

      262,000        268,283  

General Motors Financial Co., Inc.

      

5.00%, 04/09/2027

      755,000        753,950  

Nissan Motor Acceptance Co. LLC

      

7.05%, 09/15/2028 (D)

      956,000        1,004,866  

Stellantis Finance US, Inc.

      

6.38%, 09/12/2032 (D) (E)

      661,000        709,354  

Volkswagen Group of America Finance LLC

      

1.63%, 11/24/2027 (D)

      644,000        571,616  
     

 

 

  
        5,520,121  
     

 

 

  
Banks - 2.2%  

Bank of America Corp.

      

Fixed until 04/25/2033,
5.29% (C), 04/25/2034

      3,095,000        3,110,672  

Fixed until 01/23/2034,
5.47% (C), 01/23/2035

      567,000        577,198  

Barclays PLC

      

Fixed until 11/02/2025,
7.33% (C), 11/02/2026

      1,291,000        1,332,901  

Citigroup, Inc.

      

Fixed until 05/25/2033,
6.17% (C), 05/25/2034

      862,000        894,617  

Deutsche Bank AG

      

Fixed until 11/26/2024,
3.96% (C), 11/26/2025

      427,000        420,084  

Fixed until 11/10/2032,
7.08% (C), 02/10/2034

      907,000        924,669  

Fifth Third Bancorp

      

Fixed until 07/27/2028,
6.34% (C), 07/27/2029

      247,000        256,997  

Goldman Sachs Group, Inc.

      

Fixed until 10/21/2031,
2.65% (C), 10/21/2032

      1,288,000        1,077,033  

ING Groep NV

      

Fixed until 09/11/2033,
6.11% (C), 09/11/2034

      1,305,000        1,367,470  

Intesa Sanpaolo SpA

      

5.02%, 06/26/2024 (D)

      420,000        417,417  

Fixed until 11/21/2032,
8.25% (C), 11/21/2033 (D)

      1,667,000        1,826,270  

JPMorgan Chase & Co.

      

Fixed until 04/22/2026,
1.58% (C), 04/22/2027

      1,512,000        1,403,359  

Fixed until 01/23/2034,
5.34% (C), 01/23/2035

      569,000        578,013  

Fixed until 06/01/2033,
5.35% (C), 06/01/2034

      2,343,000        2,381,396  

Morgan Stanley

      

Fixed until 07/21/2033,
5.42% (C), 07/21/2034

      790,000        800,048  
 

 

Transamerica Funds

     Page 4      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Banks (continued)  

Morgan Stanley (continued)

 

Fixed until 01/18/2034,
5.47% (C), 01/18/2035

      $  427,000        $  435,417  

Fixed until 10/18/2032,
6.34% (C), 10/18/2033

      791,000        852,530  

PNC Financial Services Group, Inc.

      

Fixed until 01/22/2034,
5.68% (C), 01/22/2035 (E)

      159,000        162,974  

Fixed until 08/18/2033,
5.94% (C), 08/18/2034

      828,000        864,913  

Truist Financial Corp.

      

Fixed until 01/26/2033,
5.12% (C), 01/26/2034

      826,000        803,726  

Fixed until 10/28/2032,
6.12% (C), 10/28/2033

      476,000        494,861  

Fixed until 10/30/2028,
7.16% (C), 10/30/2029

      422,000        455,561  

UBS Group AG

      

Fixed until 09/11/2024,
2.59% (C), 09/11/2025 (D)

      772,000        757,713  

Fixed until 08/12/2032,
6.54% (C), 08/12/2033 (D)

      1,477,000        1,571,143  

US Bancorp

      

Fixed until 06/10/2033,
5.84% (C), 06/12/2034

      561,000        578,285  

Wells Fargo & Co.

      

Fixed until 07/25/2033,
5.56% (C), 07/25/2034

      1,185,000        1,208,156  

Fixed until 06/15/2024 (F),
5.90% (C)

      513,000        511,007  
     

 

 

  
        26,064,430  
     

 

 

  
Beverages - 0.2%  

Anheuser-Busch InBev Worldwide, Inc.

      

4.44%, 10/06/2048

      888,000        804,317  

Constellation Brands, Inc.

      

3.15%, 08/01/2029

      575,000        530,456  

3.70%, 12/06/2026

      152,000        147,932  

Diageo Capital PLC

      

5.50%, 01/24/2033

      471,000        495,857  
     

 

 

  
        1,978,562  
     

 

 

  
Biotechnology - 0.2%  

Amgen, Inc.

      

2.80%, 08/15/2041

      525,000        379,379  

5.60%, 03/02/2043

      473,000        485,866  

CSL Finance PLC

      

4.63%, 04/27/2042 (D)

      513,000        481,270  

Gilead Sciences, Inc.

      

4.15%, 03/01/2047

      177,000        152,985  

Royalty Pharma PLC

      

2.20%, 09/02/2030

      683,000        572,540  
     

 

 

  
        2,072,040  
     

 

 

  
Building Products - 0.1%  

Carrier Global Corp.

      

5.90%, 03/15/2034 (D)

      452,000        482,450  

Lowe’s Cos., Inc.

      

3.75%, 04/01/2032

      1,163,000        1,081,809  
     

 

 

  
        1,564,259  
     

 

 

  
Capital Markets - 0.1%  

Charles Schwab Corp.

      

Fixed until 05/19/2033,
5.85% (C), 05/19/2034

      1,449,000        1,499,805  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Chemicals - 0.1%  

Celanese US Holdings LLC

      

6.70%, 11/15/2033

      $  642,000        $  689,813  

FMC Corp.

      

5.65%, 05/18/2033

      476,000        472,997  

Nutrien Ltd.

      

4.90%, 03/27/2028

      514,000        516,284  
     

 

 

  
        1,679,094  
     

 

 

  
Commercial Services & Supplies - 0.7%  

ADT Security Corp.

      

4.13%, 08/01/2029 (D)

      793,000        731,784  

Ashtead Capital, Inc.

      

5.55%, 05/30/2033 (D)

      428,000        424,112  

5.80%, 04/15/2034 (D)

      200,000        201,193  

Carlisle Cos., Inc.

      

3.75%, 12/01/2027

      610,000        585,552  

Element Fleet Management Corp.

      

6.32%, 12/04/2028 (D)

      1,301,000        1,351,351  

General Electric Co.

      

4.13%, 10/09/2042

      494,000        421,230  

4.50%, 03/11/2044

      826,000        764,613  

GXO Logistics, Inc.

      

2.65%, 07/15/2031

      1,760,000        1,452,521  

Quanta Services, Inc.

      

2.90%, 10/01/2030

      499,000        437,429  

Triton Container International Ltd./TAL International Container Corp.

      

3.25%, 03/15/2032

      1,623,000        1,317,431  
     

 

 

  
        7,687,216  
     

 

 

  
Consumer Finance - 0.1%  

Capital One Financial Corp.

      

Fixed until 02/01/2029,
5.70% (C), 02/01/2030

      916,000        924,044  
     

 

 

  
Consumer Staples Distribution & Retail - 0.2%  

7-Eleven, Inc.

      

1.80%, 02/10/2031 (D)

      1,001,000        810,312  

Sysco Corp.

      

3.30%, 07/15/2026

      945,000        917,293  
     

 

 

  
        1,727,605  
     

 

 

  
Containers & Packaging - 0.1%  

Sonoco Products Co.

      

2.25%, 02/01/2027

      665,000        616,822  
     

 

 

  
Distributors - 0.0% (B)  

LKQ Corp.

      

6.25%, 06/15/2033

      475,000        495,214  
     

 

 

  
Diversified REITs - 0.7%  

American Tower Trust #1

      

3.65%, 03/15/2048 (D)

      508,000        483,599  

Broadstone Net Lease LLC

      

2.60%, 09/15/2031

      1,152,000        904,793  

SBA Tower Trust

      

1.63%, 05/15/2051 (D)

      2,058,000        1,842,954  

1.88%, 07/15/2050 (D)

      746,000        693,605  

2.84%, 01/15/2050 (D)

      2,715,000        2,629,145  

VICI Properties LP

      

4.95%, 02/15/2030

      1,256,000        1,218,646  

Weyerhaeuser Co.

      

4.00%, 04/15/2030

      1,001,000        953,590  
     

 

 

  
        8,726,332  
     

 

 

  
 

 

Transamerica Funds

     Page 5      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Diversified Telecommunication Services - 0.2%  

Sprint Capital Corp.

      

6.88%, 11/15/2028

      $  135,000        $  145,865  

Verizon Communications, Inc.

      

1.68%, 10/30/2030

      976,000        800,704  

2.99%, 10/30/2056

      1,656,000        1,078,039  
     

 

 

  
        2,024,608  
     

 

 

  
Electric Utilities - 0.5%  

Appalachian Power Co.

      

3.40%, 06/01/2025

      459,000        449,707  

Cleveland Electric Illuminating Co.

      

5.95%, 12/15/2036

      117,000        119,815  

CMS Energy Corp.

      

4.88%, 03/01/2044

      141,000        132,575  

DTE Electric Co.

      

4.30%, 07/01/2044

      1,430,000        1,254,722  

Duke Energy Corp.

      

3.75%, 04/15/2024 - 09/01/2046

      1,717,000        1,457,754  

Duke Energy Progress LLC

      

3.60%, 09/15/2047

      1,237,000        944,095  

Entergy Arkansas LLC

      

3.70%, 06/01/2024

      192,000        190,614  

Oncor Electric Delivery Co. LLC

      

5.30%, 06/01/2042

      70,000        73,947  

Pacific Gas & Electric Co.

      

2.50%, 02/01/2031

      611,000        506,099  

PacifiCorp

      

3.60%, 04/01/2024

      667,000        664,749  

Public Service Electric & Gas Co.

      

3.00%, 05/15/2025

      424,000        414,648  
     

 

 

  
        6,208,725  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.2%  

Arrow Electronics, Inc.

      

2.95%, 02/15/2032

      886,000        748,763  

Keysight Technologies, Inc.

      

4.60%, 04/06/2027

      724,000        719,852  

Sensata Technologies BV

      

4.00%, 04/15/2029 (D)

      200,000        182,953  

Sensata Technologies, Inc.

      

4.38%, 02/15/2030 (D)

      403,000        371,461  

Trimble, Inc.

      

6.10%, 03/15/2033

      722,000        758,840  
     

 

 

  
        2,781,869  
     

 

 

  
Energy Equipment & Services - 0.1%  

Schlumberger Holdings Corp.

      

3.90%, 05/17/2028 (D)

      1,207,000        1,170,387  
     

 

 

  
Financial Services - 0.4%  

AerCap Ireland Capital DAC/AerCap Global Aviation Trust

      

4.45%, 04/03/2026

      1,120,000        1,099,963  

Aviation Capital Group LLC

      

1.95%, 01/30/2026 (D)

      677,000        631,910  

5.50%, 12/15/2024 (D)

      1,296,000        1,292,044  

Avolon Holdings Funding Ltd.

      

2.88%, 02/15/2025 (D)

      969,000        938,947  

5.50%, 01/15/2026 (D)

      1,240,000        1,232,568  
     

 

 

  
        5,195,432  
     

 

 

  
Food Products - 0.2%  

Bunge Ltd. Finance Corp.

      

2.75%, 05/14/2031

      957,000        828,898  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Food Products (continued)  

Cargill, Inc.

      

5.13%, 10/11/2032 (D)

      $  527,000        $  535,277  

J M Smucker Co.

      

6.50%, 11/15/2043

      437,000        486,117  

Viterra Finance BV

      

4.90%, 04/21/2027 (D)

      878,000        869,871  
     

 

 

  
        2,720,163  
     

 

 

  
Health Care Equipment & Supplies - 0.1%  

Alcon Finance Corp.

      

2.75%, 09/23/2026 (D)

      600,000        567,631  

5.75%, 12/06/2052 (D)

      200,000        211,705  

GE HealthCare Technologies, Inc.

      

5.86%, 03/15/2030

      412,000        433,143  
     

 

 

  
        1,212,479  
     

 

 

  
Health Care Providers & Services - 0.6%  

Centene Corp.

      

3.00%, 10/15/2030

      875,000        757,295  

3.38%, 02/15/2030

      510,000        456,194  

Cigna Group

      

2.40%, 03/15/2030

      862,000        752,329  

CVS Health Corp.

      

2.70%, 08/21/2040

      858,000        603,596  

5.25%, 01/30/2031

      323,000        328,239  

Elevance Health, Inc.

      

2.25%, 05/15/2030

      721,000        621,912  

5.13%, 02/15/2053

      496,000        485,686  

HCA, Inc.

      

4.13%, 06/15/2029

      520,000        495,832  

4.63%, 03/15/2052

      698,000        591,382  

5.25%, 04/15/2025

      230,000        229,744  

Laboratory Corp. of America Holdings

      

2.95%, 12/01/2029

      532,000        482,334  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (D)

      362,000        339,250  

UnitedHealth Group, Inc.

      

5.20%, 04/15/2063

      769,000        770,147  
     

 

 

  
        6,913,940  
     

 

 

  
Health Care REITs - 0.1%  

Physicians Realty LP

      

2.63%, 11/01/2031

      951,000        782,377  

Ventas Realty LP

      

3.25%, 10/15/2026

      930,000        882,802  
     

 

 

  
        1,665,179  
     

 

 

  
Hotels, Restaurants & Leisure - 0.1%  

Hyatt Hotels Corp.

      

1.80%, 10/01/2024

      417,000        406,494  

Warnermedia Holdings, Inc.

      

5.05%, 03/15/2042

      1,176,000        1,040,155  
     

 

 

  
        1,446,649  
     

 

 

  
Household Durables - 0.0% (B)  

Mohawk Industries, Inc.

      

5.85%, 09/18/2028

      482,000        499,317  
     

 

 

  
Industrial Conglomerates - 0.1%  

Veralto Corp.

      

5.45%, 09/18/2033 (D)

      728,000        745,355  
     

 

 

  
Insurance - 0.5%  

Constellation Insurance, Inc.

      

6.80%, 01/24/2030 (D)

      1,642,000        1,625,816  
 

 

Transamerica Funds

     Page 6      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Insurance (continued)  

Equitable Holdings, Inc.

      

5.59%, 01/11/2033

      $  1,284,000        $  1,316,929  

Global Atlantic Finance Co.

      

7.95%, 06/15/2033 (D)

      1,299,000        1,441,928  

Muenchener Rueckversicherungs-Gesellschaft AG

      

Fixed until 11/23/2031,
5.88% (C), 05/23/2042 (D)

      600,000        607,050  

Prudential Financial, Inc.

      

Fixed until 07/01/2030,
3.70% (C), 10/01/2050

      977,000        858,881  
     

 

 

  
        5,850,604  
     

 

 

  
Interactive Media & Services - 0.3%  

Baidu, Inc.

      

4.38%, 05/14/2024

      1,990,000        1,983,114  

Meta Platforms, Inc.

      

4.80%, 05/15/2030

      775,000        788,676  

Tencent Holdings Ltd.

      

3.28%, 04/11/2024 (D)

      742,000        738,691  
     

 

 

  
        3,510,481  
     

 

 

  

Internet & Catalog Retail - 0.0% (B)

 

Expedia Group, Inc.

      

2.95%, 03/15/2031

      57,000        49,894  
     

 

 

  
Machinery - 0.1%  

CNH Industrial Capital LLC

      

4.55%, 04/10/2028

      710,000        703,635  

Huntington Ingalls Industries, Inc.

      

2.04%, 08/16/2028

      1,103,000        972,243  
     

 

 

  
        1,675,878  
     

 

 

  
Media - 0.1%  

Charter Communications Operating LLC/Charter Communications Operating Capital

      

4.80%, 03/01/2050

      562,000        428,513  

Comcast Corp.

      

2.94%, 11/01/2056

      372,000        240,008  

NBCUniversal Media LLC

      

4.45%, 01/15/2043

      456,000        412,137  

Paramount Global

      

4.20%, 05/19/2032 (E)

      340,000        302,243  
     

 

 

  
        1,382,901  
     

 

 

  
Metals & Mining - 0.3%  

Anglo American Capital PLC

      

4.50%, 03/15/2028 (D)

      1,293,000        1,258,042  

ArcelorMittal SA

      

6.55%, 11/29/2027

      1,054,000        1,104,499  

Glencore Funding LLC

      

2.63%, 09/23/2031 (D)

      837,000        706,795  
     

 

 

  
        3,069,336  
     

 

 

  
Office REITs - 0.1%  

Corporate Office Properties LP

      

2.25%, 03/15/2026

      314,000        294,981  

Highwoods Realty LP

      

4.13%, 03/15/2028

      482,000        449,834  

7.65%, 02/01/2034

      324,000        356,262  
     

 

 

  
        1,101,077  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  

Oil, Gas & Consumable Fuels - 1.0%

 

Boardwalk Pipelines LP

      

3.40%, 02/15/2031

      $  390,000        $  348,918  

Chevron USA, Inc.

      

3.25%, 10/15/2029

      654,000        620,023  

Energy Transfer LP

      

4.90%, 02/01/2024

      356,000        356,000  

5.15%, 02/01/2043

      244,000        220,061  

5.55%, 02/15/2028

      445,000        452,888  

5.95%, 10/01/2043

      499,000        494,441  

Enterprise Products Operating LLC

      

4.25%, 02/15/2048

      1,656,000        1,437,621  

Kinder Morgan Energy Partners LP

      

4.15%, 02/01/2024

      772,000        772,000  

Occidental Petroleum Corp.

      

5.55%, 03/15/2026

      1,184,000        1,191,990  

ONEOK, Inc.

      

6.10%, 11/15/2032

      1,043,000        1,098,040  

Ovintiv, Inc.

      

6.25%, 07/15/2033

      689,000        717,298  

Petroleos Mexicanos

      

6.50%, 01/23/2029

      385,000        341,813  

6.84%, 01/23/2030 (E)

      892,000        766,028  

6.88%, 08/04/2026

      340,000        331,167  

7.69%, 01/23/2050

      95,000        66,410  

Plains All American Pipeline LP/PAA Finance Corp.

      

3.55%, 12/15/2029

      637,000        585,793  

Sabine Pass Liquefaction LLC

      

4.20%, 03/15/2028

      573,000        561,111  

Shell International Finance BV

      

2.50%, 09/12/2026

      714,000        680,388  

3.75%, 09/12/2046

      351,000        287,141  

Western Midstream Operating LP

      

6.15%, 04/01/2033

      703,000        726,916  

Williams Cos., Inc.

      

5.40%, 03/04/2044

      97,000        93,464  
     

 

 

  
        12,149,511  
     

 

 

  
Passenger Airlines - 0.1%  

American Airlines Pass-Through Trust

      

3.20%, 12/15/2029

      518,396        475,078  

United Airlines Pass-Through Trust

      

3.75%, 03/03/2028

      532,308        511,541  
     

 

 

  
        986,619  
     

 

 

  
Personal Care Products - 0.1%  

Haleon US Capital LLC

      

3.38%, 03/24/2027

      448,000        431,257  

Kenvue, Inc.

      

5.00%, 03/22/2030

      1,149,000        1,176,392  
     

 

 

  
        1,607,649  
     

 

 

  
Pharmaceuticals - 0.3%  

AbbVie, Inc.

      

3.20%, 05/14/2026

      403,000        391,079  

Bayer US Finance II LLC

      

4.38%, 12/15/2028 (D)

      716,000        678,557  

Bristol-Myers Squibb Co.

      

6.40%, 11/15/2063

      165,000        189,263  

Merck & Co., Inc.

      

5.00%, 05/17/2053

      911,000        911,824  
 

 

Transamerica Funds

     Page 7      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Pharmaceuticals (continued)  

Pfizer Investment Enterprises Pte. Ltd.

      

5.11%, 05/19/2043

      $  765,000        $  760,465  

Viatris, Inc.

      

2.30%, 06/22/2027

      425,000        387,019  
     

 

 

  
        3,318,207  
     

 

 

  
Professional Services - 0.2%  

Equifax, Inc.

      

2.60%, 12/01/2024

      879,000        859,468  

5.10%, 12/15/2027

      840,000        846,900  
     

 

 

  
        1,706,368  
     

 

 

  
Residential REITs - 0.1%  

American Homes 4 Rent LP

      

5.50%, 02/01/2034

      932,000        941,451  

Invitation Homes Operating Partnership LP

      

4.15%, 04/15/2032

      513,000        470,729  
     

 

 

  
        1,412,180  
     

 

 

  
Retail REITs - 0.1%  

Realty Income Corp.

      

4.90%, 07/15/2033

      750,000        733,768  

Simon Property Group LP

      

6.25%, 01/15/2034

      383,000        414,047  
     

 

 

  
        1,147,815  
     

 

 

  
Semiconductors & Semiconductor Equipment - 0.7%  

Advanced Micro Devices, Inc.

      

3.92%, 06/01/2032

      1,238,000        1,183,485  

Broadcom, Inc.

      

3.14%, 11/15/2035 (D)

      911,000        747,979  

Foundry JV Holdco LLC

      

5.88%, 01/25/2034 (D)

      709,000        729,287  

KLA Corp.

      

3.30%, 03/01/2050

      730,000        544,761  

Microchip Technology, Inc.

      

0.98%, 09/01/2024

      684,000        665,787  

Micron Technology, Inc.

      

5.30%, 01/15/2031

      919,000        928,164  

NXP BV/NXP Funding LLC/NXP USA, Inc.

      

3.25%, 11/30/2051

      401,000        279,561  

3.40%, 05/01/2030

      656,000        599,147  

QUALCOMM, Inc.

      

3.25%, 05/20/2050 (E)

      487,000        373,233  

Skyworks Solutions, Inc.

      

1.80%, 06/01/2026

      379,000        353,011  

TSMC Global Ltd.

      

1.38%, 09/28/2030 (D)

      1,611,000        1,309,819  
     

 

 

  
        7,714,234  
     

 

 

  
Software - 0.5%  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029

      140,000        125,124  

Fiserv, Inc.

      

5.45%, 03/02/2028

      733,000        751,631  

Infor, Inc.

      

1.75%, 07/15/2025 (D)

      945,000        894,556  

Intuit, Inc.

      

5.50%, 09/15/2053

      341,000        362,723  

Oracle Corp.

      

3.65%, 03/25/2041

      601,000        477,038  

6.90%, 11/09/2052

      951,000        1,113,675  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (D)

      763,000        298,808  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Software (continued)  

Take-Two Interactive Software, Inc.

      

3.55%, 04/14/2025

      $  1,217,000        $  1,193,804  

Workday, Inc.

      

3.50%, 04/01/2027

      944,000        913,858  
     

 

 

  
        6,131,217  
     

 

 

  
Specialized REITs - 0.1%  

Extra Space Storage LP

      

5.90%, 01/15/2031

      1,114,000        1,157,486  
     

 

 

  
Tobacco - 0.2%  

BAT Capital Corp.

      

6.42%, 08/02/2033 (E)

      1,076,000        1,127,465  

Philip Morris International, Inc.

      

5.63%, 11/17/2029

      807,000        841,417  
     

 

 

  
        1,968,882  
     

 

 

  
Wireless Telecommunication Services - 0.2%  

America Movil SAB de CV

      

4.38%, 07/16/2042

      300,000        267,056  

T-Mobile USA, Inc.

      

3.50%, 04/15/2031

      830,000        756,061  

3.88%, 04/15/2030

      684,000        646,382  

5.15%, 04/15/2034

      916,000        921,606  
     

 

 

  
        2,591,105  
     

 

 

  

Total Corporate Debt Securities
(Cost $163,126,724)

 

      155,363,769  
     

 

 

  
FOREIGN GOVERNMENT OBLIGATIONS - 0.3%  
Brazil - 0.0% (B)  

Brazil Government International Bonds

      

4.25%, 01/07/2025

      330,000        325,338  
     

 

 

  
Chile - 0.0% (B)  

Chile Government International Bonds

      

3.50%, 01/25/2050

      400,000        295,035  
     

 

 

  
Colombia - 0.1%  

Colombia Government International Bonds

      

3.13%, 04/15/2031

      455,000        364,002  
     

 

 

  
Indonesia - 0.1%  

Indonesia Government International Bonds

      

4.75%, 01/08/2026 (D)

      1,035,000        1,032,449  
     

 

 

  
Mexico - 0.1%  

Mexico Government International Bonds

      

3.75%, 01/11/2028

      1,126,000        1,080,777  
     

 

 

  
Panama - 0.0% (B)  

Panama Government International Bonds

      

3.88%, 03/17/2028

      315,000        287,310  
     

 

 

  

Total Foreign Government Obligations
(Cost $3,558,478)

 

      3,384,911  
     

 

 

  
MORTGAGE-BACKED SECURITIES - 2.1%  

BB-UBS Trust

      

Series 2012-TFT, Class A,

      

2.89%, 06/05/2030 (D)

      397,934        359,653  

BB-UBS Trust, Interest Only STRIPS

      

Series 2012-SHOW, Class XA,

      

0.73% (C), 11/05/2036 (D)

      3,045,000        9,920  
 

 

Transamerica Funds

     Page 8      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

CIM Trust

      

Series 2021-R6, Class A1,

      

1.43% (C), 07/25/2061 (D)

      $  1,548,537        $  1,356,435  

Citigroup Commercial Mortgage Trust

      

Series 2015-GC27, Class B,

      

3.77%, 02/10/2048

      1,250,000        1,206,668  

Citigroup Mortgage Loan Trust, Inc.

      

Series 2018-RP1, Class A1,

      

3.00% (C), 09/25/2064 (D)

      138,712        133,658  

COMM Mortgage Trust

      

Series 2014-UBS2, Class A5,

      

3.96%, 03/10/2047

      95,951        95,785  

Series 2015-3BP, Class A,

      

3.18%, 02/10/2035 (D)

      3,050,000        2,908,547  

CSMC Trust

      

Series 2021-RPL2, Class A1A,

      

1.11% (C), 01/25/2060 (D)

      1,333,884        1,100,872  

Series 2021-RPL6, Class A1,

      

2.00% (C), 10/25/2060 (D)

      1,074,122        945,837  

Fontainebleau Miami Beach Trust

      

Series 2019-FBLU, Class B,

      

3.45%, 12/10/2036 (D)

      1,250,000        1,215,775  

Houston Galleria Mall Trust

      

Series 2015-HGLR, Class A1A2,

      

3.09%, 03/05/2037 (D)

      700,000        675,305  

MetLife Securitization Trust

      

Series 2019-1A, Class A1A,

      

3.75% (C), 04/25/2058 (D)

      52,634        51,182  

Nationstar Mortgage Loan Trust

      

Series 2013-A, Class A,

      

3.75% (C), 12/25/2052 (D)

      70,502        65,557  

New Residential Mortgage Loan Trust

      

Series 2014-1A, Class A,

      

3.75% (C), 01/25/2054 (D)

      37,070        34,952  

Series 2014-2A, Class A3,

      

3.75% (C), 05/25/2054 (D)

      90,186        84,537  

Series 2014-3A, Class AFX3,

      

3.75% (C), 11/25/2054 (D)

      69,906        65,486  

Series 2015-2A, Class A1,

      

3.75% (C), 08/25/2055 (D)

      151,726        142,568  

Series 2016-2A, Class A1,

      

3.75% (C), 11/26/2035 (D)

      100,583        94,979  

Series 2016-3A, Class A1B,

      

3.25% (C), 09/25/2056 (D)

      109,995        100,981  

Series 2016-4A, Class A1,

      

3.75% (C), 11/25/2056 (D)

      139,420        130,796  

Series 2017-1A, Class A1,

      

4.00% (C), 02/25/2057 (D)

      306,131        289,700  

Series 2017-2A, Class A3,

      

4.00% (C), 03/25/2057 (D)

      701,609        663,324  

Series 2017-3A, Class A1,

      

4.00% (C), 04/25/2057 (D)

      438,005        414,004  

Series 2017-4A, Class A1,

      

4.00% (C), 05/25/2057 (D)

      320,370        302,001  

Series 2018-1A, Class A1A,

      

4.00% (C), 12/25/2057 (D)

      160,588        152,516  

Series 2018-RPL1, Class A1,

      

3.50% (C), 12/25/2057 (D)

      232,453        222,286  

Series 2019-4A, Class A1B,

      

3.50% (C), 12/25/2058 (D)

      835,273        770,791  

Series 2019-5A, Class A1B,

      

3.50% (C), 08/25/2059 (D)

      719,823        672,410  

OBX Trust

      

Series 2023-NQM4, Class A1,

      

6.11% (C), 03/25/2063 (D)

      776,535        780,774  
     Principal      Value  
MORTGAGE-BACKED SECURITIES (continued)  

One Market Plaza Trust

      

Series 2017-1MKT, Class A,

      

3.61%, 02/10/2032 (D)

      $  938,000        $  858,270  

Towd Point Mortgage Trust

      

Series 2017-1, Class A1,

      

2.75% (C), 10/25/2056 (D)

      14,841        14,760  

Series 2017-3, Class A1,

      

2.75% (C), 07/25/2057 (D)

      38,670        38,049  

Series 2017-4, Class A1,

      

2.75% (C), 06/25/2057 (D)

      340,387        326,398  

Series 2017-6, Class A1,

      

2.75% (C), 10/25/2057 (D)

      178,060        170,663  

Series 2018-1, Class A1,

      

3.00% (C), 01/25/2058 (D)

      215,398        209,643  

Series 2018-3, Class A1,

      

3.75% (C), 05/25/2058 (D)

      532,856        513,718  

Series 2018-4, Class A1,

      

3.00% (C), 06/25/2058 (D)

      1,168,202        1,090,342  

Series 2019-1, Class A1,

      

3.75% (C), 03/25/2058 (D)

      869,904        832,219  

Series 2020-4, Class A1,

      

1.75%, 10/25/2060 (D)

      940,083        833,274  

Series 2021-1, Class A1,

      

2.25% (C), 11/25/2061 (D)

      1,783,454        1,640,985  

Series 2022-4, Class A1,

      

3.75%, 09/25/2062 (D)

      794,566        744,838  

Series 2023-1, Class A1,

      

3.75%, 01/25/2063 (D)

      2,088,503        1,982,099  

UBS-BAMLL Trust

      

Series 2012-WRM, Class A,

      

3.66%, 06/10/2030 (D)

      17,746        16,277  
     

 

 

  

Total Mortgage-Backed Securities
(Cost $26,473,142)

 

      24,318,834  
     

 

 

  
U.S. GOVERNMENT AGENCY OBLIGATIONS - 9.8%  

Federal Home Loan Mortgage Corp.

      

5.00%, 08/01/2035

      89,098        89,771  

5.50%, 06/01/2041

      39,726        40,947  

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates

      

1.38%, 06/25/2030

      2,547,000        2,120,548  

2.81%, 01/25/2025

      2,113,738        2,069,470  

2.89%, 06/25/2027

      105,215        104,266  

3.01%, 07/25/2025

      2,408,000        2,347,985  

Federal National Mortgage Association

      

3.50%, 07/01/2028 - 11/01/2028

      86,039        84,064  

4.00%, 04/01/2026 - 06/01/2042

      29,480        28,423  

4.50%, 02/01/2025 - 08/01/2052

      2,037,749        1,972,011  

1-Year RFUCC Treasury + 1.52%,
4.87% (C), 02/01/2043

      15,374        15,276  

5.00%, 04/01/2039 - 04/01/2053

      6,234,217        6,173,394  

5.50%, 10/01/2036 - 03/01/2053

      2,430,994        2,450,220  

6.00%, 08/01/2036 - 06/01/2041

      493,944        514,295  

6.50%, 05/01/2040

      45,026        46,853  

Government National Mortgage Association REMICS, Interest Only STRIPS

      

Series 2012-120,

      

0.64% (C), 02/16/2053

      218,208        3,442  

Tennessee Valley Authority

      

5.88%, 04/01/2036

      774,000        879,746  

Uniform Mortgage-Backed Security, TBA

      

2.00%, 02/01/2039 - 02/01/2054 (G)

      11,807,000        10,022,034  

2.50%, 02/01/2039 - 02/01/2054 (G)

      25,715,000        21,992,261  

3.00%, 02/01/2039 - 02/01/2054 (G)

      21,637,000        19,140,125  
 

 

Transamerica Funds

     Page 9      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)  

Uniform Mortgage-Backed Security, TBA (continued)

 

3.50%, 02/01/2039 - 02/01/2054 (G)

      $  16,551,000        $  15,258,746  

4.00%, 02/01/2054 (G)

      9,264,000        8,728,755  

4.50%, 02/01/2054 (G)

      8,543,000        8,264,684  

5.50%, 02/01/2054 (G)

      10,131,000        10,168,138  

6.00%, 02/01/2054 (G)

      3,669,000        3,721,958  
     

 

 

  

Total U.S. Government Agency Obligations
(Cost $117,209,941)

 

      116,237,412  
     

 

 

  
U.S. GOVERNMENT OBLIGATIONS - 10.7%  
U.S. Treasury - 9.9%  

U.S. Treasury Bonds

      

1.25%, 05/15/2050

      3,216,000        1,671,441  

1.88%, 02/15/2051 - 11/15/2051

      4,902,000        2,997,377  

2.00%, 02/15/2050

      1,799,000        1,146,863  

2.25%, 08/15/2046 - 02/15/2052

      4,330,000        2,954,376  

2.38%, 02/15/2042 - 05/15/2051

      4,411,000        3,261,557  

2.50%, 02/15/2045 - 05/15/2046

      6,029,000        4,460,295  

2.75%, 08/15/2042 - 11/15/2047

      4,932,900        3,850,938  

2.88%, 08/15/2045 - 05/15/2049

      2,261,600        1,770,214  

3.00%, 05/15/2042 - 08/15/2052

      4,131,300        3,286,306  

3.13%, 02/15/2042 - 05/15/2048

      3,070,600        2,603,099  

3.63%, 02/15/2044 - 05/15/2053

      4,782,400        4,301,326  

3.88%, 02/15/2043

      1,923,000        1,807,019  

4.00%, 11/15/2052

      914,000        876,833  

4.13%, 08/15/2053

      1,240,000        1,217,331  

4.75%, 11/15/2053

      3,275,000        3,569,238  

5.25%, 02/15/2029

      780,000        828,750  

U.S. Treasury Notes

      

0.63%, 05/15/2030 - 08/15/2030

      8,552,000        6,962,660  

0.88%, 06/30/2026

      435,200        403,478  

1.13%, 02/15/2031

      1,272,000        1,060,629  

1.38%, 11/15/2031

      2,059,000        1,707,683  

1.50%, 01/31/2027 - 02/15/2030

      3,789,100        3,368,987  

1.63%, 02/15/2026 - 05/15/2031

      20,216,600        18,486,015  

1.88%, 02/15/2032

      1,897,800        1,628,624  

2.13%, 03/31/2024

      2,246,000        2,234,331  

2.25%, 11/15/2025 - 11/15/2027

      3,155,600        3,021,074  

2.63%, 02/15/2029

      653,500        615,592  

2.75%, 05/15/2025 - 02/15/2028

      3,602,000        3,454,510  

2.88%, 05/15/2028 - 05/15/2032

      5,574,600        5,254,180  

3.13%, 11/15/2028

      307,000        296,675  

3.38%, 05/15/2033

      956,300        912,968  

3.50%, 01/31/2028 - 02/15/2033

      5,454,000        5,346,206  

3.63%, 05/31/2028

      3,439,000        3,399,640  

3.88%, 11/30/2027 - 08/15/2033

      3,458,100        3,437,927  

4.13%, 09/30/2027 - 11/15/2032

      2,467,200        2,493,499  

4.38%, 11/30/2028

      5,874,000        5,999,281  

4.50%, 11/15/2033

      2,802,800        2,923,233  

4.75%, 11/15/2043

      2,886,000        3,048,788  
     

 

 

  
        116,658,943  
     

 

 

  
U.S. Treasury Inflation-Protected Securities - 0.8%  

U.S. Treasury Inflation-Protected Indexed Bonds

 

   

0.25%, 02/15/2050

      2,343,393        1,506,133  

1.75%, 01/15/2028

      1,099,320        1,097,917  

2.50%, 01/15/2029

      3,955,444        4,105,975  

U.S. Treasury Inflation-Protected Indexed Notes

      

0.13%, 07/15/2030

      3,025,314        2,752,357  
     

 

 

  
        9,462,382  
     

 

 

  

Total U.S. Government Obligations
(Cost $138,503,815)

 

      126,121,325  
     

 

 

  
     Principal      Value  
COMMERCIAL PAPER - 7.0%  
Banks - 2.9%  

ABN AMRO Funding USA LLC

      

5.45% (H), 07/17/2024 (D)

      $  3,000,000        $  2,926,791  

DNB Bank ASA

      

5.86% (H), 04/23/2024 (D)

      4,200,000        4,149,057  

Korea Development Bank

      

5.47% (H), 07/08/2024

      3,710,000        3,625,431  

Mackinac Funding Co. LLC

      

5.86% (H), 03/07/2024 (D)

      3,344,000        3,325,996  

Macquarie Bank Ltd.

      

5.86% (H), 02/12/2024 - 03/01/2024 (D)

      4,250,000        4,238,991  

National Bank of Canada

      

5.86% (H), 02/01/2024 (D)

      4,750,000        4,749,299  

Nordea Bank Abp

      

5.80% (H), 03/05/2024 (D)

      4,250,000        4,228,716  

Standard Chartered Bank

      

5.87% (H), 03/07/2024 (D)

      2,560,000        2,546,457  

Svenska Handelsbanken AB

      

5.36% (H), 07/30/2024 (D)

      4,500,000        4,383,686  
     

 

 

  
        34,174,424  
     

 

 

  
Consumer Finance - 0.3%  

Toyota Motor Credit Corp.

      

5.46% (H), 07/03/2024

      4,000,000        3,910,348  
     

 

 

  
Financial Services - 3.2%  

Alinghi Funding Co. LLC

      

5.92% (H), 04/10/2024 (D)

      4,235,000        4,190,889  

Anglesea Funding LLC

      

5.38% (H), 07/26/2024 (D)

      4,550,000        4,433,924  

Britannia Funding Co. LLC

      

5.90% (H), 02/07/2024 (D)

      2,500,000        2,497,404  

Glencove Funding LLC

      

5.79% (H), 04/10/2024 (D)

      4,250,000        4,205,650  

GTA Funding LLC

      

5.84% (H), 02/21/2024 (D)

      4,250,000        4,236,727  

LMA-Americas LLC

      

5.82% (H), 02/16/2024 (D)

      4,500,000        4,489,249  

Mont Blanc Capital Corp.

      

5.65% (H), 04/15/2024 (D)

      3,050,000        3,015,910  

Old Line Funding LLC

      

5.72% (H), 04/11/2024 (D)

      1,500,000        1,484,020  

Ridgefield Funding Co. LLC

      

5.82% (H), 02/06/2024 (D)

      5,000,000        4,995,560  

Starbird Funding Corp.

      

5.47% (H), 07/11/2024 (D)

      4,300,000        4,198,757  
     

 

 

  
        37,748,090  
     

 

 

  
Health Care Providers & Services - 0.4%  

Columbia Funding Co. LLC

      

5.84% (H), 03/05/2024 (D)

      4,750,000        4,725,910  
     

 

 

  
Pharmaceuticals - 0.2%  

AstraZeneca PLC

      

5.41% (H), 07/16/2024 (D)

      3,000,000        2,925,384  
     

 

 

  

Total Commercial Paper
(Cost $83,483,074)

 

      83,484,156  
     

 

 

  
 

 

Transamerica Funds

     Page 10      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
SHORT-TERM U.S. GOVERNMENT AGENCY OBLIGATION - 0.1%  

Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates

      

Series K728, Class A2,

      

3.06% (H), 08/25/2024

      $  1,541,476        $  1,520,558  
     

 

 

  

Total Short-Term U.S. Government Agency Obligation (Cost $1,539,369)

 

      1,520,558  
     

 

 

  
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 1.4%  

U.S. Cash Management Bills

      

5.39% (H), 02/08/2024

      380,000        379,618  

5.40% (H), 03/14/2024

      3,540,000        3,518,209  

5.44% (H), 02/01/2024

      1,347,000        1,347,000  

U.S. Treasury Bills

      

5.33% (H), 04/18/2024

      2,632,000        2,602,751  

5.34% (H), 05/02/2024

      1,347,000        1,329,289  

5.35% (H), 04/18/2024

      2,967,000        2,934,028  

5.37% (H), 03/05/2024

      4,583,000        4,560,973  
     

 

 

  

Total Short-Term U.S. Government Obligations
(Cost $16,671,963)

 

      16,671,868  
     

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 0.3%  
Securities Lending Collateral - 0.3%  

State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (H)

      3,341,363        3,341,363  
     

 

 

  

Total Other Investment Company
(Cost $3,341,363)

 

      3,341,363  
     

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 1.7%  

Fixed Income Clearing Corp., 2.50% (H), dated 01/31/2024, to be repurchased at $19,801,894 on 02/01/2024. Collateralized by U.S. Government Obligations, 0.13% - 4.50%, due 07/15/2026, and with a total value of $20,196,693.

      $ 19,800,519        19,800,519  
     

 

 

  

Total Repurchase Agreement
(Cost $19,800,519)

 

      19,800,519  
     

 

 

  

Total Investments
(Cost $962,391,519)

 

      1,285,638,417  

Net Other Assets (Liabilities) - (8.6)%

         (101,875,748 ) 
     

 

 

  

Net Assets - 100.0%

         $ 1,183,762,669  
     

 

 

  
 

 

Transamerica Funds

     Page 11      

Transamerica Multi-Managed Balanced

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

FUTURES CONTRACTS:

 

Long Futures Contracts

 

 

Description

    Number of
Contracts		    Expiration
Date		    Notional
Amount		    Value    Unrealized
Appreciation		    Unrealized
Depreciation

S&P 500® E-Mini Index

    58        03/15/2024      $  13,850,296      $  14,124,450      $  274,154      $  — 

INVESTMENT VALUATION:

 

Valuation Inputs (I)

 

     Level 1 -
Unadjusted
Quoted
Prices		      Level 2 -
Other
Significant
Observable
Inputs		      Level 3 -
Significant
Unobservable
Inputs		      Value  

ASSETS

 

Investments

            

Common Stocks

    $ 710,736,507      $ —       $ —       $ 710,736,507  

Preferred Stock

      870,552        —         —         870,552  

Asset-Backed Securities

      —         23,786,643        —         23,786,643  

Corporate Debt Securities

      —         155,363,769        —         155,363,769  

Foreign Government Obligations

      —         3,384,911        —         3,384,911  

Mortgage-Backed Securities

      —         24,318,834        —         24,318,834  

U.S. Government Agency Obligations

      —         116,237,412        —         116,237,412  

U.S. Government Obligations

      —         126,121,325        —         126,121,325  

Commercial Paper

      —         83,484,156        —         83,484,156  

Short-Term U.S. Government Agency Obligation

      —         1,520,558        —         1,520,558  

Short-Term U.S. Government Obligations

      —         16,671,868        —         16,671,868  

Other Investment Company

      3,341,363        —         —         3,341,363  

Repurchase Agreement

      —         19,800,519        —         19,800,519  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $  714,948,422      $  570,689,995      $ —       $  1,285,638,417  
  

 

 

     

 

 

     

 

 

     

 

 

  

Other Financial Instruments

 

Futures Contracts (J)

    $ 274,154      $ —       $ —       $ 274,154  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Other Financial Instruments

    $ 274,154      $ —       $  —       $ 274,154  
  

 

 

     

 

 

     

 

 

     

 

 

  

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      Non-income producing securities.
(B)      Percentage rounds to less than 0.1% or (0.1)%.
(C)      Floating or variable rate securities. The rates disclosed are as of January 31, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)      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 $158,870,816, representing 13.4% of the Fund’s net assets.
(E)      All or a portion of the securities are on loan. The total value of all securities on loan is $3,272,790, collateralized by cash collateral of $3,341,363. 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.
(F)      Perpetual maturity. The date displayed is the next call date.
(G)      When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2024. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)      Rates disclosed reflect the yields at January 31, 2024.
(I)      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.
(J)      Derivative instruments are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

 

REIT

    Real Estate Investment Trust

RFUCC

    Refinitiv USD IBOR Consumer Cash Fallbacks

SOFR

    Secured Overnight Financing Rate

STRIPS

    Separate Trading of Registered Interest and Principal of Securities

TBA

    To Be Announced

 

Transamerica Funds

     Page 12      

Transamerica Multi-Managed Balanced

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION

Transamerica Multi-Managed Balanced (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 and derivative instruments.

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.

Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

Corporate debt securities: The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

 

Transamerica Funds

     Page 13      

Transamerica Multi-Managed Balanced

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

Foreign government obligations: Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Commercial paper: Commercial paper is valued using amortized cost, which approximates fair value. The values are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Short-term notes: The Fund normally values short-term government and U.S. government agency securities using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers and reference data. Certain securities are valued by principally using dealer quotations. Short-term government and U.S. government agency securities generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

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.

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.

 

Transamerica Funds

     Page 14