Transamerica Mid Cap Growth


	Shares		Value
EXCHANGE-TRADED FUNDS - 44.9%
International Equity Funds - 11.0%
iShares Core MSCI EAFE ETF		45,953		$ 3,210,736
iShares Core MSCI Emerging Markets ETF		14,053		680,868
iShares Global REIT ETF		49,172		1,138,332

				5,029,936

U.S. Equity Fund - 13.8%
iShares Core S&P 500 ETF		13,102		6,357,090

U.S. Fixed Income Funds - 20.1%
iShares 0-5 Year TIPS Bond ETF		32,501		3,218,249
iShares Core U.S. Aggregate Bond ETF		60,691		6,014,478

				9,232,727

Total Exchange-Traded Funds (Cost $22,119,120)				20,619,753


INVESTMENT COMPANIES - 54.2%
International Equity Funds - 6.0%
Transamerica Emerging Markets Opportunities ^(A)		63,864		454,075
Transamerica International Focus ^(A)		146,163		1,142,992
Transamerica International Stock ^(A)		104,127		1,156,852

				2,753,919

International Fixed Income Fund - 5.0%
Transamerica Emerging Markets Debt ^(A)		251,024		2,304,400

U.S. Equity Funds - 14.4%
Transamerica Capital Growth ^{(A) (B)}		107,395		790,425
Transamerica Large Cap Value ^(A)		159,750		2,063,972
Transamerica Mid Cap Growth ^{(A) (B)}		76,457		684,295
Transamerica Mid Cap Value Opportunities ^(A)		62,009		683,334
Transamerica Small Cap Growth ^(A)		88,347		567,187
Transamerica Small Cap Value ^(A)		102,955		560,076
Transamerica US Growth ^(A)		44,640		1,249,916

				6,599,205

U.S. Fixed Income Funds - 28.8%
Transamerica Bond ^(A)		1,234,497		9,987,077
Transamerica High Yield Bond ^(A)		400,181		3,229,461

				13,216,538

Total Investment Companies (Cost $27,849,292)				24,874,062


	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 2.50%^(C), dated 01/31/2024, to be repurchased at $430,095 on 02/01/2024. Collateralized by a U.S. Government Obligation, 0.13%, due 07/15/2026, and with a value of $438,685.		$ 430,066		$ 430,066

Total Repurchase Agreement (Cost $430,066)				430,066

Total Investments (Cost $50,398,478)				45,923,881
Net Other Assets (Liabilities) - (0.1)%				(26,862	)

Net Assets - 100.0%				$ 45,897,019

Transamerica ClearTrack^® 2025 (the “Fund”) is a series of the Transamerica Funds.

Transamerica Asset Management, Inc. (“TAM”) has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, with responsibility for fair valuation subject to oversight by the Fund’s Board of Trustees. The net asset value of the Fund is computed as of the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

TAM utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:

Level 1 — Unadjusted quoted prices in active markets for identical securities.

Level 2 — Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM’s own assumptions used in determining the fair value of the Fund’s investments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at January 31, 2024, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Fund’s significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Exchange-traded funds (“ETF”): ETFs are stated at the last reported sale price or closing price on the day of valuation taken from the primary exchange where the ETF is principally traded. ETFs are generally categorized in Level 1 of the fair value hierarchy.

Investment companies: Certain investment companies are valued at the NAV as the practical expedient. These investment companies are not included within the fair value hierarchy. Certain other investment companies are valued at the actively traded NAV and no valuation adjustments are applied. These investment companies are 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.


Affiliated Investments	Value October 31, 2023		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)		Value January 31, 2024		Shares as of January 31, 2024		Dividend Income		Net Capital Gain Distributions
Transamerica Bond	$	9,009,780	$	569,601	$	(224,417	)	$	(49,087	)	$	681,200	$	9,987,077		1,234,497	$	103,242	$	—
Transamerica Capital Growth		644,019		95,295		(118,752	)		23,017			146,846		790,425		107,395		—		—
Transamerica Emerging Markets Debt		2,053,915		136,991		(53,211	)		(8,238	)		174,943		2,304,400		251,024		23,395		—
Transamerica Emerging Markets Opportunities		507,190		24,829		(83,075	)		(48,155	)		53,286		454,075		63,864		14,909		—
Transamerica High Yield Bond		3,073,685		46,538		(77,666	)		(14,656	)		201,560		3,229,461		400,181		46,530		—
Transamerica International Focus		1,077,230		92,513		(38,879	)		(10,245	)		22,373		1,142,992		146,163		39,017		53,496
Transamerica International Stock		1,084,063		38,936		(86,286	)		(5,886	)		126,025		1,156,852		104,127		38,936		—
Transamerica Large Cap Value		1,986,662		210,793		(282,181	)		(26,453	)		175,151		2,063,972		159,750		6,862		153,931
Transamerica Mid Cap Growth		608,195		24,476		(72,723	)		(45,527	)		169,874		684,295		76,457		—		—
Transamerica Mid Cap Value Opportunities		631,701		46,502		(37,233	)		(13,231	)		55,595		683,334		62,009		7,142		26,396
Transamerica Small Cap Growth		505,903		65,590		(51,356	)		(23,161	)		70,211		567,187		88,347		—		26,177
Transamerica Small Cap Value		467,199		95,194		(66,970	)		(96,071	)		160,724		560,076		102,955		18,063		—
Transamerica US Growth		1,269,554		47,609		(266,660	)		66,386			133,027		1,249,916		44,640		—		47,609

Total	$	22,919,096	$	1,494,867	$	(1,459,409	)	$	(251,307	)	$	2,170,815	$	24,874,062		2,841,409	$	298,096	$	307,609


(B)		Non-income producing securities.
(C)		Rate disclosed reflects the yield at January 31, 2024.
(D)		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.


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	20,619,753	$	—	$	—	$	20,619,753
Investment Companies		24,874,062		—		—		24,874,062
Repurchase Agreement		—		430,066		—		430,066

Total Investments	$	45,493,815	$	430,066	$	—	$	45,923,881


(A)		Affiliated investment in the Class R6 shares of funds within Transamerica Funds. The Fund’s transactions and earnings from these underlying funds are as follows:


Transamerica Funds			Page 1


REIT		Real Estate Investment Trust


Transamerica Funds			Page 2


Transamerica Funds			Page 3