NPORT-EX 2 NPORT_I3GD_48734612_0124.htm FOR VALIDATION PURPOSES ONLY - [613222.I3GD]

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES - 94.0%  
Automobile Components - 4.2%  

Clarios Global LP/Clarios US Finance Co.

      

6.25%, 05/15/2026 (A)

      $ 316,000        $ 315,428  

8.50%, 05/15/2027 (A)

      196,000        196,759  

Dana Financing Luxembourg SARL

      

5.75%, 04/15/2025 (A)

      287,000        286,096  

Dana, Inc.

      

4.25%, 09/01/2030

      185,000        161,758  

4.50%, 02/15/2032

      377,000        324,129  

5.63%, 06/15/2028 (B)

      489,000        473,172  

Goodyear Tire & Rubber Co.

      

4.88%, 03/15/2027

      130,000        125,521  

5.00%, 07/15/2029

      265,000        247,873  

9.50%, 05/31/2025

      149,000        151,265  

ZF North America Capital, Inc.

      

4.75%, 04/29/2025 (A)

      150,000        147,704  

7.13%, 04/14/2030 (A)

      150,000        158,247  
     

 

 

  
        2,587,952  
     

 

 

  
Automobiles - 1.9%              

Ford Motor Co.

      

6.10%, 08/19/2032

      13,000        13,000  

Ford Motor Credit Co. LLC

      

4.00%, 11/13/2030

      400,000        356,838  

6.95%, 03/06/2026

      220,000        225,035  

7.35%, 11/04/2027

      516,000        543,736  
     

 

 

  
        1,138,609  
     

 

 

  
Banks - 4.4%  

Barclays PLC

      

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

      200,000        206,491  

Citigroup, Inc.

      

Fixed until 12/10/2025 (D),
4.00% (C)

      318,000        297,108  

Fixed until 09/12/2024 (D),
5.00% (C)

      135,000        133,060  

Deutsche Bank AG

      

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

      200,000        203,896  

Intesa Sanpaolo SpA

      

Fixed until 06/01/2031,
4.20% (C), 06/01/2032 (A)

      800,000        661,875  

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

      200,000        219,109  

JPMorgan Chase & Co.

      

Fixed until 02/01/2025 (D),
4.60% (C)

      210,000        204,717  

Lloyds Banking Group PLC

      

Fixed until 08/15/2032,
7.95% (C), 11/15/2033

      200,000        226,294  

UniCredit SpA

      

Fixed until 06/30/2030,
5.46% (C), 06/30/2035 (A)

      600,000        562,330  
     

 

 

  
        2,714,880  
     

 

 

  
Beverages - 1.3%  

Primo Water Holdings, Inc.

      

4.38%, 04/30/2029 (A)

      845,000        769,110  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Building Products - 3.5%  

Boise Cascade Co.

      

4.88%, 07/01/2030 (A)

      $  862,000        $  799,479  

Builders FirstSource, Inc.

      

4.25%, 02/01/2032 (A)

      168,000        150,957  

5.00%, 03/01/2030 (A)

      151,000        144,777  

6.38%, 06/15/2032 (A)

      308,000        314,055  

Camelot Return Merger Sub, Inc.

      

8.75%, 08/01/2028 (A)

      191,000        195,745  

Cornerstone Building Brands, Inc.

      

6.13%, 01/15/2029 (A)

      600,000        532,500  
     

 

 

  
        2,137,513  
     

 

 

  
Capital Markets - 1.1%  

LPL Holdings, Inc.

      

4.00%, 03/15/2029 (A)

      457,000        421,196  

4.63%, 11/15/2027 (A)

      271,000        260,889  
     

 

 

  
        682,085  
     

 

 

  
Chemicals - 0.3%  

ASP Unifrax Holdings, Inc.

      

5.25%, 09/30/2028 (A)

      57,000        37,562  

Avient Corp.

      

7.13%, 08/01/2030 (A)

      118,000        121,030  

Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc.

      

5.13%, 04/01/2029 (A)

      76,000        29,654  
     

 

 

  
        188,246  
     

 

 

  
Commercial Services & Supplies - 7.0%  

Ashtead Capital, Inc.

      

4.00%, 05/01/2028 (A)

      200,000        189,254  

Avis Budget Car Rental LLC/Avis Budget
Finance, Inc.

      

5.75%, 07/15/2027 (A)

      468,000        454,230  

8.00%, 02/15/2031 (A)

      340,000        339,291  

Benteler International AG

      

10.50%, 05/15/2028 (A)

      200,000        213,900  

Covanta Holding Corp.

      

4.88%, 12/01/2029 (A)

      137,000        119,093  

5.00%, 09/01/2030

      414,000        353,869  

Garda World Security Corp.

      

4.63%, 02/15/2027 (A)

      196,000        185,212  

6.00%, 06/01/2029 (A)

      76,000        66,743  

GFL Environmental, Inc.

      

6.75%, 01/15/2031 (A)

      85,000        86,908  

Herc Holdings, Inc.

      

5.50%, 07/15/2027 (A)

      452,000        443,516  

Hertz Corp.

      

4.63%, 12/01/2026 (A)

      206,000        185,530  

5.00%, 12/01/2029 (A)

      537,000        428,172  

Stericycle, Inc.

      

5.38%, 07/15/2024 (A)

      302,000        300,867  

United Rentals North America, Inc.

      

3.75%, 01/15/2032

      156,000        136,993  

4.00%, 07/15/2030

      446,000        407,809  

6.00%, 12/15/2029 (A)

      280,000        283,718  

WW International, Inc.

      

4.50%, 04/15/2029 (A)

      244,000        117,120  
     

 

 

  
        4,312,225  
     

 

 

  
Communications Equipment - 1.0%  

CommScope, Inc.

      

4.75%, 09/01/2029 (A)

      207,000        137,607  
 

 

Transamerica Funds

     Page 1      

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Communications Equipment (continued)  

6.00%, 03/01/2026 (A)

      $  491,000        $  425,294  

8.25%, 03/01/2027 (A)

      138,000        62,392  
     

 

 

  
        625,293  
     

 

 

  
Construction & Engineering - 3.1%  

Ashton Woods USA LLC/Ashton Woods Finance Co.

      

4.63%, 08/01/2029 - 04/01/2030 (A)

      45,000        40,738  

6.63%, 01/15/2028 (A)

      345,000        341,378  

Beazer Homes USA, Inc.

      

6.75%, 03/15/2025

      12,000        11,993  

7.25%, 10/15/2029

      245,000        246,073  

Century Communities, Inc.

      

6.75%, 06/01/2027

      576,000        580,383  

KB Home

      

4.80%, 11/15/2029

      70,000        66,003  

7.25%, 07/15/2030

      259,000        266,144  

Meritage Homes Corp.

      

5.13%, 06/06/2027

      123,000        120,694  

6.00%, 06/01/2025

      223,000        222,474  
     

 

 

  
        1,895,880  
     

 

 

  
Construction Materials - 0.6%  

Smyrna Ready Mix Concrete LLC

      

6.00%, 11/01/2028 (A)

      177,000        172,706  

8.88%, 11/15/2031 (A)

      135,000        141,805  

Summit Materials LLC/Summit Materials Finance Corp.

      

7.25%, 01/15/2031 (A)

      50,000        51,987  
     

 

 

  
        366,498  
     

 

 

  
Consumer Staples Distribution & Retail - 0.5%  

Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP

      

4.63%, 01/15/2027 (A)

      293,000        284,636  
     

 

 

  
Containers & Packaging - 5.1%  

ARD Finance SA

      

PIK Rate 7.25%, Cash Rate 6.50%, 06/30/2027 (A) (E)

      200,000        96,638  

Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC

      

3.25%, 09/01/2028 (A)

      400,000        349,549  

Cascades, Inc./Cascades USA, Inc.

      

5.13%, 01/15/2026 (A) (B)

      365,000        358,613  

5.38%, 01/15/2028 (A)

      100,000        97,799  

Graphic Packaging International LLC

      

3.50%, 03/15/2028 - 03/01/2029 (A)

      476,000        432,952  

3.75%, 02/01/2030 (A)

      156,000        139,380  

4.13%, 08/15/2024

      349,000        345,497  

Mauser Packaging Solutions Holding Co.

      

7.88%, 08/15/2026 (A)

      71,000        71,828  

9.25%, 04/15/2027 (A)

      35,000        33,783  

OI European Group BV

      

4.75%, 02/15/2030 (A)

      49,000        45,350  

Owens-Brockway Glass Container, Inc.

      

7.25%, 05/15/2031 (A)

      65,000        65,813  

Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC

      

4.00%, 10/15/2027 (A)

      127,000        118,428  

Sealed Air Corp.

      

5.13%, 12/01/2024 (A)

      425,000        422,875  

6.88%, 07/15/2033 (A)

      150,000        156,524  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Containers & Packaging (continued)  

Sealed Air Corp./Sealed Air Corp. US

      

7.25%, 02/15/2031 (A)

      $  170,000        $  177,712  

Trivium Packaging Finance BV

      

5.50%, 08/15/2026 (A)

      200,000        195,151  
     

 

 

  
        3,107,892  
     

 

 

  
Diversified REITs - 3.6%  

GLP Capital LP/GLP Financing II, Inc.

      

5.25%, 06/01/2025

      350,000        348,561  

HAT Holdings I LLC/HAT Holdings II LLC

      

3.38%, 06/15/2026 (A)

      459,000        428,336  

3.75%, 09/15/2030 (A)

      423,000        348,558  

6.00%, 04/15/2025 (A)

      125,000        123,935  

8.00%, 06/15/2027 (A)

      150,000        155,139  

Iron Mountain Information Management Services, Inc.

      

5.00%, 07/15/2032 (A)

      157,000        141,607  

SBA Communications Corp.

      

3.13%, 02/01/2029

      552,000        491,976  

3.88%, 02/15/2027

      151,000        144,152  
     

 

 

  
        2,182,264  
     

 

 

  
Diversified Telecommunication Services - 0.8%  

Iliad Holding SASU

      

6.50%, 10/15/2026 (A)

      400,000        393,316  

Telecom Italia Capital SA

      

6.00%, 09/30/2034

      98,000        91,861  

6.38%, 11/15/2033

      19,000        18,417  
     

 

 

  
        503,594  
     

 

 

  
Electric Utilities - 2.0%  

Pattern Energy Operations LP/Pattern Energy Operations, Inc.

      

4.50%, 08/15/2028 (A)

      1,345,000        1,252,879  
     

 

 

  
Electrical Equipment - 1.0%  

Energizer Holdings, Inc.

      

4.38%, 03/31/2029 (A)

      152,000        137,592  

6.50%, 12/31/2027 (A)

      488,000        485,780  
     

 

 

  
        623,372  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.5%  

Sensata Technologies, Inc.

      

4.38%, 02/15/2030 (A)

      319,000        294,035  
     

 

 

  
Energy Equipment & Services - 1.3%  

CSI Compressco LP/CSI Compressco Finance, Inc.

      

7.50%, 04/01/2025 (A)

      143,000        143,000  

Sunnova Energy Corp.

      

5.88%, 09/01/2026 (A)

      372,000        308,760  

11.75%, 10/01/2028 (A) (B)

      431,000        373,231  
     

 

 

  
        824,991  
     

 

 

  
Financial Services - 0.8%  

Macquarie Airfinance Holdings Ltd.

      

8.13%, 03/30/2029 (A)

      400,000        415,917  

United Wholesale Mortgage LLC

      

5.50%, 04/15/2029 (A)

      87,000        82,166  
     

 

 

  
        498,083  
     

 

 

  
Food Products - 3.5%  

Chobani LLC/Chobani Finance Corp., Inc.

      

7.63%, 07/01/2029 (A)

      325,000        328,784  

Darling Ingredients, Inc.

      

5.25%, 04/15/2027 (A)

      654,000        642,634  
 

 

Transamerica Funds

     Page 2      

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Food Products (continued)  

Darling Ingredients, Inc. (continued)

      

6.00%, 06/15/2030 (A)

      $  227,000        $  225,653  

Kraft Heinz Foods Co.

      

3.88%, 05/15/2027

      77,000        75,260  

Post Holdings, Inc.

      

4.50%, 09/15/2031 (A)

      27,000        24,257  

4.63%, 04/15/2030 (A)

      621,000        571,156  

5.50%, 12/15/2029 (A)

      79,000        76,364  

5.63%, 01/15/2028 (A)

      238,000        234,205  
     

 

 

  
        2,178,313  
     

 

 

  
Health Care Equipment & Supplies - 0.7%  

Kedrion SpA

      

6.50%, 09/01/2029 (A)

      286,000        255,255  

Medline Borrower LP

      

3.88%, 04/01/2029 (A)

      203,000        183,544  
     

 

 

  
        438,799  
     

 

 

  
Health Care Providers & Services - 5.5%  

AdaptHealth LLC

      

4.63%, 08/01/2029 (A)

      5,000        3,925  

5.13%, 03/01/2030 (A)

      187,000        146,795  

6.13%, 08/01/2028 (A)

      240,000        210,115  

Charles River Laboratories International, Inc.

      

3.75%, 03/15/2029 (A)

      280,000        254,160  

4.00%, 03/15/2031 (A)

      52,000        46,214  

DaVita, Inc.

      

3.75%, 02/15/2031 (A)

      154,000        126,964  

4.63%, 06/01/2030 (A)

      247,000        218,556  

Encompass Health Corp.

      

4.50%, 02/01/2028

      217,000        207,268  

4.63%, 04/01/2031

      5,000        4,594  

4.75%, 02/01/2030

      280,000        264,112  

HCA, Inc.

      

3.50%, 09/01/2030

      115,000        104,261  

5.88%, 02/15/2026

      166,000        167,561  

Heartland Dental LLC/Heartland Dental Finance Corp.

      

10.50%, 04/30/2028 (A)

      367,000        386,348  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (A)

      197,000        184,620  

Tenet Healthcare Corp.

      

4.25%, 06/01/2029

      244,000        226,522  

5.13%, 11/01/2027

      178,000        173,782  

6.13%, 10/01/2028 - 06/15/2030

      513,000        511,379  

6.25%, 02/01/2027

      117,000        116,696  
     

 

 

  
        3,353,872  
     

 

 

  
Hotel & Resort REITs - 1.1%  

Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer

      

5.88%, 10/01/2028 (A)

      174,000        169,432  

7.50%, 06/01/2025 (A)

      483,000        484,876  
     

 

 

  
        654,308  
     

 

 

  
Hotels, Restaurants & Leisure - 5.7%  

1011778 BC ULC/New Red Finance, Inc.

      

3.88%, 01/15/2028 (A)

      63,000        59,324  

4.00%, 10/15/2030 (A)

      238,000        212,626  

Boyne USA, Inc.

      

4.75%, 05/15/2029 (A)

      706,000        643,764  

Hilton Domestic Operating Co., Inc.

      

4.88%, 01/15/2030

      606,000        584,170  

5.38%, 05/01/2025 (A)

      150,000        149,473  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Hotels, Restaurants & Leisure (continued)  

Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.

      

4.88%, 07/01/2031 (A)

      $  596,000        $  528,533  

5.00%, 06/01/2029 (A)

      214,000        197,757  

NCL Corp. Ltd.

      

5.88%, 03/15/2026 (A)

      312,000        304,395  

Travel & Leisure Co.

      

4.50%, 12/01/2029 (A)

      170,000        155,107  

5.65%, 04/01/2024

      270,000        269,422  

6.60%, 10/01/2025

      383,000        387,868  
     

 

 

  
        3,492,439  
     

 

 

  
Household Durables - 0.6%  

Newell Brands, Inc.

      

4.88%, 06/01/2025

      398,000        390,489  
     

 

 

  
Household Products - 0.3%  

Central Garden & Pet Co.

      

4.13%, 04/30/2031 (A)

      233,000        205,898  
     

 

 

  
Independent Power & Renewable Electricity Producers - 2.3%  

Calpine Corp.

      

4.50%, 02/15/2028 (A)

      166,000        157,763  

5.00%, 02/01/2031 (A)

      287,000        260,396  

Clearway Energy Operating LLC

      

3.75%, 02/15/2031 (A)

      170,000        147,368  

4.75%, 03/15/2028 (A)

      916,000        872,139  
     

 

 

  
        1,437,666  
     

 

 

  
Insurance - 1.9%  

Constellation Insurance, Inc.

      

6.80%, 01/24/2030 (A)

      400,000        396,058  

Global Atlantic Finance Co.

      

Fixed until 07/15/2026,
4.70% (C), 10/15/2051 (A)

      119,000        105,938  

7.95%, 06/15/2033 (A)

      176,000        195,365  

Hartford Financial Services Group, Inc.

      

3-Month Term SOFR + 2.39%,
7.77% (C), 02/12/2067 (A)

      191,000        165,134  

HUB International Ltd.

      

7.25%, 06/15/2030 (A)

      90,000        92,941  

7.38%, 01/31/2032 (A)

      50,000        51,275  

Lincoln National Corp.

      

3-Month Term SOFR + 2.62%,
7.99% (C), 05/17/2066

      243,000        184,041  
     

 

 

  
        1,190,752  
     

 

 

  
Internet & Catalog Retail - 0.8%              

Uber Technologies, Inc.

      

6.25%, 01/15/2028 (A)

      70,000        70,392  

8.00%, 11/01/2026 (A)

      407,000        414,420  
     

 

 

  
        484,812  
     

 

 

  
IT Services - 0.3%  

Conduent Business Services LLC/Conduent State & Local Solutions, Inc.

      

6.00%, 11/01/2029 (A)

      231,000        211,490  
     

 

 

  
Machinery - 4.1%  

Advanced Drainage Systems, Inc.

      

5.00%, 09/30/2027 (A)

      920,000        887,147  

6.38%, 06/15/2030 (A)

      31,000        31,257  
 

 

Transamerica Funds

     Page 3      

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

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

Chart Industries, Inc.

      

7.50%, 01/01/2030 (A)

      $  168,000        $  172,901  

GrafTech Global Enterprises, Inc.

      

9.88%, 12/15/2028 (A) (B)

      60,000        44,835  

Madison IAQ LLC

      

4.13%, 06/30/2028 (A)

      221,000        203,087  

5.88%, 06/30/2029 (A)

      314,000        279,511  

SPX Flow, Inc.

      

8.75%, 04/01/2030 (A)

      309,000        304,282  

Wabash National Corp.

      

4.50%, 10/15/2028 (A)

      647,000        587,737  
     

 

 

  
        2,510,757  
     

 

 

  
Media - 10.4%  

CCO Holdings LLC/CCO Holdings Capital Corp.

      

4.25%, 02/01/2031 - 01/15/2034 (A)

      147,000        123,676  

4.50%, 06/01/2033 (A)

      40,000        32,758  

4.75%, 02/01/2032 (A)

      479,000        408,914  

5.00%, 02/01/2028 (A)

      175,000        165,217  

Clear Channel Outdoor Holdings, Inc.

      

7.75%, 04/15/2028 (A) (B)

      69,000        59,896  

9.00%, 09/15/2028 (A)

      286,000        297,726  

CSC Holdings LLC

      

4.50%, 11/15/2031 (A)

      418,000        299,942  

5.75%, 01/15/2030 (A)

      501,000        265,530  

DISH DBS Corp.

      

5.25%, 12/01/2026 (A)

      98,000        77,294  

5.75%, 12/01/2028 (A)

      39,000        26,369  

7.75%, 07/01/2026

      125,000        73,653  

DISH Network Corp.

      

11.75%, 11/15/2027 (A)

      51,000        53,126  

Gray Television, Inc.

      

4.75%, 10/15/2030 (A)

      455,000        357,739  

5.38%, 11/15/2031 (A)

      376,000        295,668  

7.00%, 05/15/2027 (A)

      62,000        60,605  

iHeartCommunications, Inc.

      

5.25%, 08/15/2027 (A)

      150,000        116,358  

6.38%, 05/01/2026

      555,000        476,687  

8.38%, 05/01/2027

      283,000        175,308  

LCPR Senior Secured Financing DAC

      

5.13%, 07/15/2029 (A)

      600,000        526,320  

6.75%, 10/15/2027 (A)

      180,000        174,855  

Nexstar Media, Inc.

      

4.75%, 11/01/2028 (A)

      23,000        21,067  

5.63%, 07/15/2027 (A)

      317,000        308,754  

Sirius XM Radio, Inc.

      

3.13%, 09/01/2026 (A)

      60,000        55,947  

4.13%, 07/01/2030 (A)

      473,000        413,284  

Sunrise FinCo I BV

      

4.88%, 07/15/2031 (A)

      200,000        176,030  

TEGNA, Inc.

      

4.63%, 03/15/2028

      460,000        429,240  

4.75%, 03/15/2026 (A)

      34,000        33,079  

Univision Communications, Inc.

      

6.63%, 06/01/2027 (A)

      245,000        242,384  

7.38%, 06/30/2030 (A)

      9,000        8,836  

8.00%, 08/15/2028 (A)

      72,000        73,230  

VZ Secured Financing BV

      

5.00%, 01/15/2032 (A)

      674,000        589,651  
     

 

 

  
        6,419,143  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Metals & Mining - 4.1%  

Cleveland-Cliffs, Inc.

      

6.75%, 03/15/2026 (A)

      $  173,000        $  174,811  

Enviri Corp.

      

5.75%, 07/31/2027 (A)

      723,000        679,601  

Mineral Resources Ltd.

      

8.13%, 05/01/2027 (A)

      245,000        247,450  

8.50%, 05/01/2030 (A)

      140,000        144,033  

9.25%, 10/01/2028 (A)

      26,000        27,382  

New Gold, Inc.

      

7.50%, 07/15/2027 (A)

      563,000        559,867  

Novelis Corp.

      

3.25%, 11/15/2026 (A)

      42,000        39,323  

3.88%, 08/15/2031 (A)

      12,000        10,421  

4.75%, 01/30/2030 (A)

      658,000        610,521  
     

 

 

  
        2,493,409  
     

 

 

  
Mortgage Real Estate Investment Trusts - 0.2%  

Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.

      

5.25%, 10/01/2025 (A)

      127,000        124,817  
     

 

 

  
Oil, Gas & Consumable Fuels - 1.3%  

Cheniere Energy Partners LP

      

4.00%, 03/01/2031

      196,000        177,570  

DCP Midstream Operating LP

      

5.38%, 07/15/2025

      121,000        121,151  

Hess Midstream Operations LP

      

5.13%, 06/15/2028 (A)

      225,000        218,286  

Targa Resources Partners LP/Targa Resources Partners Finance Corp.

      

5.50%, 03/01/2030

      270,000        268,538  
     

 

 

  
        785,545  
     

 

 

  
Paper & Forest Products - 0.4%  

Glatfelter Corp.

      

4.75%, 11/15/2029 (A) (B)

      306,000        221,085  
     

 

 

  
Personal Care Products - 0.7%  

Coty, Inc.

      

5.00%, 04/15/2026 (A)

      221,000        216,721  

6.50%, 04/15/2026 (A)

      95,000        94,870  

Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC

      

6.63%, 07/15/2030 (A)

      86,000        87,885  
     

 

 

  
        399,476  
     

 

 

  
Pharmaceuticals - 0.9%  

Grifols SA

      

4.75%, 10/15/2028 (A) (B)

      462,000        395,587  

Organon & Co./Organon Foreign Debt Co-Issuer BV

      

5.13%, 04/30/2031 (A)

      212,000        181,413  
     

 

 

  
        577,000  
     

 

 

  
Professional Services - 0.3%  

Gartner, Inc.

      

3.75%, 10/01/2030 (A)

      53,000        47,489  

4.50%, 07/01/2028 (A)

      159,000        151,956  
     

 

 

  
        199,445  
     

 

 

  
Real Estate Management & Development - 0.4%  

Cushman & Wakefield US Borrower LLC

      

6.75%, 05/15/2028 (A)

      148,000        146,301  

8.88%, 09/01/2031 (A)

      81,000        84,855  
     

 

 

  
        231,156  
     

 

 

  
 

 

Transamerica Funds

     Page 4      

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Software - 0.7%  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029

      $  36,000        $  32,175  

MSCI, Inc.

      

3.63%, 09/01/2030 (A)

      232,000        208,505  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (A)

      51,000        19,973  

UKG, Inc.

      

6.88%, 02/01/2031 (A) (F)

      150,000        151,687  
     

 

 

  
     412,340  
     

 

 

  
Specialized REITs - 1.1%              

Iron Mountain, Inc.

      

4.50%, 02/15/2031 (A)

      15,000        13,468  

5.25%, 03/15/2028 (A)

      684,000        663,387  

7.00%, 02/15/2029 (A)

      16,000        16,401  
     

 

 

  
        693,256  
     

 

 

  
Technology Hardware, Storage & Peripherals - 1.4%  

NCR Voyix Corp.

      

5.00%, 10/01/2028 (A)

      75,000        70,708  

5.13%, 04/15/2029 (A)

      267,000        251,300  

5.25%, 10/01/2030 (A)

      9,000        8,259  

Western Digital Corp.

      

4.75%, 02/15/2026

      544,000        530,675  
     

 

 

  
        860,942  
     

 

 

  
Wireless Telecommunication Services - 1.3%  

Vmed O2 UK Financing I PLC

      

4.75%, 07/15/2031 (A)

      891,000        798,539  
     

 

 

  

Total Corporate Debt Securities
(Cost $57,791,196)

 

       57,755,785  
  

 

 

  
LOAN ASSIGNMENT - 0.1%  
Containers & Packaging - 0.1%  

Trident TPI Holdings, Inc.

      

Term Loan,

      

3-Month Term SOFR + 4.50%,
9.85% (C), 09/15/2028

      77,513        77,277  
     

 

 

  

Total Loan Assignment
(Cost $75,498)

 

      77,277  
  

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 2.1%  
Securities Lending Collateral - 2.1%  

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

       1,286,743        $  1,286,743  
     

 

 

  

Total Other Investment Company
(Cost $1,286,743)

 

      1,286,743  
     

 

 

  
     Principal      Value  

REPURCHASE AGREEMENT - 5.1%

      

Fixed Income Clearing Corp., 2.50% (G), dated 01/31/2024, to be repurchased at $3,115,727 on 02/01/2024. Collateralized by a U.S. Government Obligation, 1.88%, due 06/30/2026, and with a value of $3,177,822.

      $ 3,115,510        3,115,510  
     

 

 

  

Total Repurchase Agreement
(Cost $3,115,510)

         3,115,510  
  

 

 

  

Total Investments
(Cost $62,268,947)

 

      62,235,315  

Net Other Assets (Liabilities) - (1.3)%

         (795,659 ) 
     

 

 

  

Net Assets - 100.0%

         $ 61,439,656  
     

 

 

  
 

 

Transamerica Funds

     Page 5      

Transamerica High Yield ESG

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION:

 

Valuation Inputs (H)

 

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

ASSETS

 

Investments

 

Corporate Debt Securities

    $ —       $ 57,755,785      $ —       $ 57,755,785  

Loan Assignment

      —         77,277        —         77,277  

Other Investment Company

      1,286,743        —         —         1,286,743  

Repurchase Agreement

      —         3,115,510        —         3,115,510  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $  1,286,743      $  60,948,572      $   —       $  62,235,315  
  

 

 

     

 

 

     

 

 

     

 

 

  

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

 

(A)      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 $44,056,571, representing 71.7% of the Fund’s net assets.
(B)      All or a portion of the securities are on loan. The total value of all securities on loan is $1,733,006, collateralized by cash collateral of $1,286,743 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $481,580. 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.
(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)      Perpetual maturity. The date displayed is the next call date.
(E)      Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(F)      When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2024. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(G)      Rates disclosed reflect the yields at January 31, 2024.
(H)      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 ABBREVIATIONS:

 

REIT

    Real Estate Investment Trust

SOFR

    Secured Overnight Financing Rate

 

Transamerica Funds

     Page 6      

Transamerica High Yield ESG

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION

Transamerica High Yield ESG (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 Funds’ significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

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.

Loan assignments: Loan assignments are normally valued using an income approach, which projects future cash flows and converts those future cash flows to a present value using a discount rate. The resulting present value reflects the likely fair value of the loan. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise are categorized in Level 3.

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 7