NPORT-EX 2 NPORT_I3A7_22187652_0124.htm FOR VALIDATION PURPOSES ONLY - [613222.I3A7]

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

     Principal      Value  
ASSET-BACKED SECURITIES - 0.9%  

JG Wentworth XLIII LLC

      

Series 2019-1A, Class A,

      

3.82%, 08/17/2071 (A)

      $ 3,649,380        $ 3,298,483  

JG Wentworth XXXVIII LLC

      

Series 2017-1A, Class A,

      

3.99%, 08/16/2060 (A)

      1,330,649        1,223,967  
     

 

 

  

Total Asset-Backed Securities
(Cost $4,501,617)

 

      4,522,450  
  

 

 

  
CORPORATE DEBT SECURITIES - 83.4%  
Aerospace & Defense - 2.3%  

Boeing Co.

      

3.83%, 03/01/2059

      6,034,000        4,299,296  

5.93%, 05/01/2060

      2,328,000        2,321,478  

HEICO Corp.

      

5.35%, 08/01/2033

      792,000        803,943  

RTX Corp.

      

4.15%, 05/15/2045

      1,967,000        1,690,317  

4.63%, 11/16/2048

      3,036,000        2,763,594  
     

 

 

  
         11,878,628  
     

 

 

  
Automobile Components - 0.5%  

Aptiv PLC/Aptiv Corp.

      

4.15%, 05/01/2052

      1,675,000        1,332,667  

Lear Corp.

      

3.55%, 01/15/2052

      2,023,000        1,382,154  
     

 

 

  
        2,714,821  
     

 

 

  
Automobiles - 1.5%  

Ford Motor Co.

      

4.75%, 01/15/2043

      2,193,000        1,801,738  

Geely Automobile Holdings Ltd.

      

Fixed until 12/09/2024 (B),
4.00% (C) (D)

      353,000        345,234  

General Motors Co.

      

6.25%, 10/02/2043

      2,783,000        2,849,737  

Stellantis Finance US, Inc.

      

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

      2,712,000        2,910,391  
     

 

 

  
        7,907,100  
     

 

 

  
Banks - 9.6%  

Bank of America Corp.

      

Fixed until 03/11/2031,
2.65% (C), 03/11/2032

      6,075,000        5,151,941  

Fixed until 03/20/2050,
4.08% (C), 03/20/2051

      3,044,000        2,548,468  

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

      3,056,000        3,071,475  

BPCE SA

      

Fixed until 10/19/2041,
3.58% (C), 10/19/2042 (A)

      771,000        549,661  

Fixed until 07/19/2032,
5.75% (C), 07/19/2033 (A)

      1,642,000        1,654,310  

Citigroup, Inc.

      

Fixed until 01/24/2038,
3.88% (C), 01/24/2039

      5,143,000        4,457,266  

Deutsche Bank AG

      

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

      677,000        690,188  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Banks (continued)  

Goldman Sachs Group, Inc.

      

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

      $  3,133,000        $  2,619,831  

6.75%, 10/01/2037

      2,292,000        2,545,876  

Intesa Sanpaolo SpA

      

Fixed until 06/20/2053,
7.78% (C), 06/20/2054 (A)

      1,546,000        1,582,012  

JPMorgan Chase & Co.

      

Fixed until 04/22/2040,
3.11% (C), 04/22/2041

      7,129,000        5,555,490  

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

      2,023,000        2,056,152  

Morgan Stanley

      

3.97% (C), 07/22/2038

      1,918,000        1,679,777  

Fixed until 04/22/2038,
4.46% (C), 04/22/2039

      2,545,000        2,351,912  

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

      529,000        535,728  

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

      529,000        570,150  

PNC Financial Services Group, Inc.

      

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

      964,000        1,006,976  

Societe Generale SA

      

7.37%, 01/10/2053 (A)

      1,478,000        1,564,683  

Truist Financial Corp.

      

Fixed until 06/08/2033,
5.87% (C), 06/08/2034

      1,664,000        1,702,381  

UBS Group AG

      

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

      1,744,000        1,855,161  

US Bancorp

      

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

      738,000        760,739  

Wells Fargo & Co.

      

4.75%, 12/07/2046

      4,697,000        4,186,984  

Wells Fargo Bank NA

      

5.95%, 08/26/2036

      681,000        708,208  
     

 

 

  
        49,405,369  
     

 

 

  
Beverages - 2.1%  

Anheuser-Busch InBev Worldwide, Inc.

      

4.44%, 10/06/2048

       8,244,000        7,467,102  

Constellation Brands, Inc.

      

5.25%, 11/15/2048

      1,906,000        1,866,790  

Pernod Ricard SA

      

5.50%, 01/15/2042 (A)

      1,302,000        1,352,800  
     

 

 

  
         10,686,692  
     

 

 

  
Biotechnology - 1.0%  

Amgen, Inc.

      

5.75%, 03/02/2063

      2,328,000        2,398,668  

CSL Finance PLC

      

4.95%, 04/27/2062 (A)

      1,519,000        1,418,926  

Gilead Sciences, Inc.

      

4.15%, 03/01/2047

      1,417,000        1,224,745  
     

 

 

  
        5,042,339  
     

 

 

  
Broadline Retail - 0.1%  

Prosus NV

      

4.03%, 08/03/2050 (D)

       1,177,000         751,646  
     

 

 

  
 

 

Transamerica Funds

     Page 1      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Building Products - 2.1%  

Carrier Global Corp.

      

6.20%, 03/15/2054 (A)

      $  2,224,000        $  2,514,612  

Home Depot, Inc.

      

4.25%, 04/01/2046

      4,193,000        3,750,545  

Lowe’s Cos., Inc.

      

3.00%, 10/15/2050

      2,124,000        1,444,205  

4.25%, 04/01/2052

      2,023,000        1,699,745  

Owens Corning

      

4.30%, 07/15/2047

      1,351,000        1,160,592  
     

 

 

  
        10,569,699  
     

 

 

  
Capital Markets - 0.9%  

Blackstone Holdings Finance Co. LLC

      

3.20%, 01/30/2052 (A)

      2,167,000        1,501,069  

Charles Schwab Corp.

      

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

      1,700,000        1,759,606  

FMR LLC

      

6.50%, 12/14/2040 (A)

      1,417,000        1,523,608  
     

 

 

  
        4,784,283  
     

 

 

  
Chemicals - 2.3%  

FMC Corp.

      

6.38%, 05/18/2053 (E)

      1,810,000        1,840,550  

LYB International Finance BV

      

4.88%, 03/15/2044

      1,279,000        1,171,500  

Nutrien Ltd.

      

5.00%, 04/01/2049

      3,348,000        3,138,065  

OCP SA

      

6.88%, 04/25/2044 (D)

      471,000        433,499  

Orbia Advance Corp. SAB de CV

      

5.88%, 09/17/2044 (D)

      3,094,000        2,756,509  

Westlake Corp.

      

4.38%, 11/15/2047

      2,740,000        2,284,352  
     

 

 

  
         11,624,475  
     

 

 

  
Commercial Services & Supplies - 2.0%  

Ashtead Capital, Inc.

      

5.80%, 04/15/2034 (A)

      468,000        470,792  

General Electric Co.

      

4.13%, 10/09/2042 (E)

      1,635,000        1,394,152  

4.50%, 03/11/2044

      1,078,000        997,884  

GXO Logistics, Inc.

      

2.65%, 07/15/2031

      2,086,000        1,721,568  

Siemens Financieringsmaatschappij NV

      

2.88%, 03/11/2041 (A)

      1,419,000        1,095,848  

4.40%, 05/27/2045 (A)

      821,000        759,498  

Triton Container International Ltd./TAL International Container Corp.

      

3.25%, 03/15/2032

      2,143,000        1,739,529  

Waste Management, Inc.

      

2.50%, 11/15/2050

      3,375,000        2,173,120  
     

 

 

  
        10,352,391  
     

 

 

  
Communications Equipment - 0.3%  

Corning, Inc.

      

4.38%, 11/15/2057

       1,902,000         1,655,002  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Construction Materials - 0.5%  

GCC SAB de CV

      

3.61%, 04/20/2032 (A)

      $  471,000        $  402,116  

Holcim Finance US LLC

      

4.75%, 09/22/2046 (A)

      2,177,000        1,964,573  
     

 

 

  
        2,366,689  
     

 

 

  
Consumer Staples Distribution & Retail - 0.7%  

7-Eleven, Inc.

      

2.50%, 02/10/2041 (A)

      3,262,000        2,256,285  

Sysco Corp.

      

3.30%, 02/15/2050

      1,902,000        1,390,918  
     

 

 

  
        3,647,203  
     

 

 

  
Diversified REITs - 0.2%  

Prologis LP

      

4.38%, 09/15/2048

      1,410,000        1,236,757  
     

 

 

  
Diversified Telecommunication Services - 3.9%  

AT&T, Inc.

      

3.50%, 09/15/2053

      5,548,000        3,956,370  

3.55%, 09/15/2055

      7,176,000        5,090,898  

PLDT, Inc.

      

3.45%, 06/23/2050 (D)

      412,000        290,671  

Telefonica Emisiones SA

      

7.05%, 06/20/2036

      3,851,000        4,342,761  

Verizon Communications, Inc.

      

2.99%, 10/30/2056

      1,263,000        822,200  

3.70%, 03/22/2061

      7,589,000        5,641,640  
     

 

 

  
         20,144,540  
     

 

 

  
Electric Utilities - 9.9%  

Appalachian Power Co.

      

4.45%, 06/01/2045

      2,832,000        2,369,738  

Berkshire Hathaway Energy Co.

      

4.50%, 02/01/2045

      1,872,000        1,717,970  

Black Hills Corp.

      

4.20%, 09/15/2046

      4,201,000        3,323,613  

Comision Federal de Electricidad

      

4.68%, 02/09/2051 (D)

      295,000        203,148  

Consolidated Edison Co. of New York, Inc.

      

4.00%, 11/15/2057

      5,663,000        4,523,250  

Dominion Energy South Carolina, Inc.

      

6.05%, 01/15/2038

      2,495,000        2,687,704  

DTE Electric Co.

      

4.05%, 05/15/2048

      1,910,000        1,599,735  

Duke Energy Florida LLC

      

6.35%, 09/15/2037

      3,592,000        3,971,714  

Electricite de France SA

      

5.00%, 09/21/2048 (A)

      1,795,000        1,628,540  

Entergy Arkansas LLC

      

4.20%, 04/01/2049

      3,348,000        2,838,919  

Evergy Metro, Inc.

      

4.20%, 03/15/2048

      2,832,000        2,362,034  

FirstEnergy Corp.

      

5.10%, 07/15/2047

      95,000        85,089  

Northern States Power Co.

      

4.00%, 08/15/2045

      2,290,000        1,905,187  

Pacific Gas & Electric Co.

      

3.50%, 08/01/2050

       1,700,000         1,185,908  

PG&E Wildfire Recovery Funding LLC

      

5.10%, 06/01/2054

      57,000        56,638  

Potomac Electric Power Co.

      

7.90%, 12/15/2038

       3,347,000         4,296,866  

Public Service Electric & Gas Co.

      

4.05%, 05/01/2048

      2,832,000        2,427,292  
 

 

Transamerica Funds

     Page 2      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Electric Utilities (continued)  

Southern California Edison Co.

      

4.65%, 10/01/2043

      $  2,408,000        $  2,183,831  

Southern Co.

      

4.40%, 07/01/2046

      2,495,000        2,186,752  

Texas Electric Market Stabilization Funding N LLC

      

5.17%, 02/01/2052 (A)

      1,025,000        1,022,273  

Union Electric Co.

      

3.90%, 09/15/2042

      3,807,000        3,187,793  

Virginia Electric & Power Co.

      

8.88%, 11/15/2038

      3,846,000        5,248,530  
     

 

 

  
         51,012,524  
     

 

 

  
Electrical Equipment - 0.3%  

Emerson Electric Co.

      

2.75%, 10/15/2050

      2,024,000        1,347,145  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.3%  

AAC Technologies Holdings, Inc.

      

3.75%, 06/02/2031 (D)

      654,000        512,889  

Cisco Systems, Inc.

      

5.90%, 02/15/2039

      989,000        1,093,559  
     

 

 

  
        1,606,448  
     

 

 

  
Energy Equipment & Services - 0.5%  

Halliburton Co.

      

5.00%, 11/15/2045

      2,748,000        2,647,365  
     

 

 

  
Food Products - 0.6%  

Cargill, Inc.

      

6.63%, 09/15/2037 (A)

      2,398,000        2,709,408  

J M Smucker Co.

      

6.50%, 11/15/2043

      519,000        577,334  
     

 

 

  
        3,286,742  
     

 

 

  
Ground Transportation - 1.3%  

Burlington Northern Santa Fe LLC

      

4.70%, 09/01/2045

      3,746,000        3,578,225  

Norfolk Southern Corp.

      

4.65%, 01/15/2046

      1,975,000        1,815,415  

Union Pacific Corp.

      

2.97%, 09/16/2062

      1,660,000        1,081,357  
     

 

 

  
        6,474,997  
     

 

 

  
Health Care Equipment & Supplies - 1.5%  

Alcon Finance Corp.

      

3.80%, 09/23/2049 (A)

      2,523,000        2,004,923  

5.75%, 12/06/2052 (A)

      1,270,000        1,344,326  

Boston Scientific Corp.

      

4.70%, 03/01/2049

      1,443,000        1,360,650  

Danaher Corp.

      

2.60%, 10/01/2050

      1,012,000        661,841  

Stryker Corp.

      

4.63%, 03/15/2046

       2,274,000         2,152,675  
     

 

 

  
        7,524,415  
     

 

 

  
Health Care Providers & Services - 4.0%  

Cigna Group

      

3.40%, 03/15/2051

       2,166,000         1,571,791  

3.88%, 10/15/2047

      3,298,000        2,643,890  

CVS Health Corp.

      

5.30%, 12/05/2043

      3,449,000        3,329,954  

5.88%, 06/01/2053

      1,908,000        1,958,372  

Elevance Health, Inc.

      

5.13%, 02/15/2053

      2,548,000        2,495,013  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Health Care Providers & Services (continued)  

HCA, Inc.

      

4.63%, 03/15/2052

      $  4,848,000        $  4,107,481  

UnitedHealth Group, Inc.

      

5.20%, 04/15/2063

      4,307,000        4,313,424  

6.05%, 02/15/2063

      81,000        92,311  
     

 

 

  
        20,512,236  
     

 

 

  
Hotels, Restaurants & Leisure - 1.7%  

McDonald’s Corp.

      

3.63%, 09/01/2049

      1,819,000        1,423,887  

Starbucks Corp.

      

4.50%, 11/15/2048

      1,896,000        1,700,759  

Warnermedia Holdings, Inc.

      

5.05%, 03/15/2042

      6,057,000        5,357,329  
     

 

 

  
        8,481,975  
     

 

 

  
Insurance - 2.1%  

Alleghany Corp.

      

3.25%, 08/15/2051

      1,471,000        1,095,377  

4.90%, 09/15/2044

      1,520,000        1,469,179  

American International Group, Inc.

      

4.80%, 07/10/2045

      1,269,000        1,207,661  

Berkshire Hathaway Finance Corp.

      

3.85%, 03/15/2052

      1,988,000        1,635,398  

Equitable Holdings, Inc.

      

5.00%, 04/20/2048 (E)

      1,823,000        1,707,163  

Global Atlantic Finance Co.

      

7.95%, 06/15/2033 (A)

      1,758,000        1,951,431  

High Street Funding Trust II

      

4.68%, 02/15/2048 (A)

      1,831,000        1,522,096  
     

 

 

  
         10,588,305  
     

 

 

  
Interactive Media & Services - 0.5%  

Meta Platforms, Inc.

      

4.45%, 08/15/2052

      1,896,000        1,701,014  

5.75%, 05/15/2063

      943,000        1,019,740  
     

 

 

  
        2,720,754  
     

 

 

  
Internet & Catalog Retail - 0.8%  

Alibaba Group Holding Ltd.

      

2.70%, 02/09/2041

      200,000        137,689  

4.20%, 12/06/2047

      1,221,000        994,186  

Amazon.com, Inc.

      

4.05%, 08/22/2047

      2,696,000        2,399,997  

JD.com, Inc.

      

4.13%, 01/14/2050

      935,000        724,232  
     

 

 

  
        4,256,104  
     

 

 

  
Media - 2.7%  

Charter Communications Operating LLC/Charter Communications Operating Capital

      

6.48%, 10/23/2045

       6,399,000         6,143,211  

Comcast Corp.

      

2.89%, 11/01/2051

       1,589,000         1,052,591  

2.94%, 11/01/2056

      1,057,000        681,957  

4.00%, 11/01/2049

      3,105,000        2,556,809  

6.50%, 11/15/2035

      315,000        356,301  

Fox Corp.

      

5.58%, 01/25/2049

      2,539,000        2,434,042  

Paramount Global

      

4.95%, 05/19/2050

      1,114,000        883,513  
     

 

 

  
         14,108,424  
     

 

 

  
 

 

Transamerica Funds

     Page 3      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Metals & Mining - 1.1%  

Freeport-McMoRan, Inc.

      

5.45%, 03/15/2043

      $  1,493,000        $  1,430,284  

Glencore Finance Canada Ltd.

      

6.90%, 11/15/2037 (A)

      1,078,000        1,204,349  

Newmont Corp.

      

6.25%, 10/01/2039

      1,747,000        1,922,745  

Nucor Corp.

      

2.98%, 12/15/2055

      1,515,000        1,011,252  
     

 

 

  
        5,568,630  
     

 

 

  
Oil, Gas & Consumable Fuels - 10.9%  

Abu Dhabi Crude Oil Pipeline LLC

      

4.60%, 11/02/2047 (D)

      858,000        761,475  

BP Capital Markets America, Inc.

      

2.94%, 06/04/2051

      3,539,000        2,409,098  

Cameron LNG LLC

      

3.70%, 01/15/2039 (A)

      1,462,000        1,245,090  

Devon Energy Corp.

      

5.00%, 06/15/2045

      1,519,000        1,348,783  

Diamondback Energy, Inc.

      

4.40%, 03/24/2051

      1,360,000        1,117,333  

Energy Transfer LP

      

5.00%, 05/15/2050

      1,417,000        1,259,262  

7.50%, 07/01/2038

      3,746,000        4,355,779  

Enterprise Products Operating LLC

      

4.90%, 05/15/2046

      3,032,000        2,893,497  

Equinor ASA

      

5.10%, 08/17/2040

      2,330,000        2,363,896  

Hess Corp.

      

5.60%, 02/15/2041

      1,537,000        1,614,852  

KazMunayGas National Co. JSC

      

6.38%, 10/24/2048 (D)

      1,361,000        1,252,245  

Kinder Morgan Energy Partners LP

      

6.55%, 09/15/2040

      3,746,000        3,978,707  

Magellan Midstream Partners LP

      

4.25%, 09/15/2046

      1,724,000        1,389,585  

MPLX LP

      

5.50%, 02/15/2049

      1,214,000        1,167,539  

Occidental Petroleum Corp.

      

6.60%, 03/15/2046

      2,166,000        2,337,222  

ONEOK Partners LP

      

6.20%, 09/15/2043

      1,807,000        1,887,461  

ONEOK, Inc.

      

5.20%, 07/15/2048

      1,519,000        1,400,134  

Ovintiv, Inc.

      

7.10%, 07/15/2053

       1,344,000         1,493,429  

Pertamina Persero PT

      

6.45%, 05/30/2044 (A)

      1,429,000        1,507,868  

Petroleos del Peru SA

      

5.63%, 06/19/2047 (D)

       1,968,000         1,255,493  

Petroleos Mexicanos

      

6.95%, 01/28/2060

      589,000        377,624  

7.69%, 01/23/2050

      2,185,000        1,527,435  

Petronas Capital Ltd.

      

4.55%, 04/21/2050 (A)

      463,000        409,248  

Shell International Finance BV

      

3.75%, 09/12/2046

      3,869,000        3,165,092  

Spectra Energy Partners LP

      

4.50%, 03/15/2045

      2,832,000        2,430,742  

Suncor Energy, Inc.

      

6.50%, 06/15/2038

      3,121,000        3,358,127  

Teck Resources Ltd.

      

6.00%, 08/15/2040

      1,386,000        1,404,885  

TransCanada PipeLines Ltd.

      

5.00%, 10/16/2043

      2,228,000        2,048,682  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Oil, Gas & Consumable Fuels (continued)  

Western Midstream Operating LP

      

5.30%, 03/01/2048

      $  2,023,000        $  1,773,875  

Williams Cos., Inc.

      

5.40%, 03/04/2044

      2,495,000        2,404,035  
     

 

 

  
         55,938,493  
     

 

 

  
Personal Care Products - 0.6%  

Kenvue, Inc.

      

5.10%, 03/22/2043

      3,036,000        3,105,619  
     

 

 

  
Pharmaceuticals - 3.7%  

AbbVie, Inc.

      

4.25%, 11/21/2049

      2,337,000        2,049,621  

4.70%, 05/14/2045

      4,547,000        4,306,024  

Bristol-Myers Squibb Co.

      

6.40%, 11/15/2063

      1,299,000        1,490,018  

Johnson & Johnson

      

3.75%, 03/03/2047

      1,351,000        1,155,560  

Merck & Co., Inc.

      

3.70%, 02/10/2045

      2,446,000        2,043,413  

5.00%, 05/17/2053 (E)

      1,782,000        1,783,611  

Pfizer Investment Enterprises Pte. Ltd.

      

5.34%, 05/19/2063

      1,788,000        1,785,621  

Pfizer, Inc.

      

4.20%, 09/15/2048

      3,779,000        3,333,112  

Takeda Pharmaceutical Co. Ltd.

      

3.18%, 07/09/2050

      1,353,000        956,989  
     

 

 

  
         18,903,969  
     

 

 

  
Professional Services - 1.1%  

Equifax, Inc.

      

7.00%, 07/01/2037

      3,179,000        3,576,353  

Moody’s Corp.

      

3.25%, 05/20/2050

      2,886,000        2,087,523  
     

 

 

  
        5,663,876  
     

 

 

  
Residential REITs - 0.4%  

American Homes 4 Rent LP

      

4.30%, 04/15/2052

      2,509,000        2,028,726  
     

 

 

  
Retail REITs - 1.1%  

Kimco Realty OP LLC

      

3.70%, 10/01/2049

       3,654,000         2,674,971  

Simon Property Group LP

      

3.25%, 09/13/2049

       964,000         697,410  

5.85%, 03/08/2053

      1,929,000        2,048,316  
     

 

 

  
        5,420,697  
     

 

 

  
Semiconductors & Semiconductor Equipment - 3.0%  

Advanced Micro Devices, Inc.

      

4.39%, 06/01/2052

      2,413,000        2,210,077  

Broadcom, Inc.

      

3.50%, 02/15/2041 (A)

      1,692,000        1,347,816  

Foundry JV Holdco LLC

      

5.88%, 01/25/2034 (A) (E)

      708,000        728,259  

Intel Corp.

      

4.10%, 05/11/2047

      1,519,000        1,302,909  

5.90%, 02/10/2063

      1,519,000        1,645,578  

KLA Corp.

      

5.00%, 03/15/2049

      1,273,000        1,247,602  

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

      

3.25%, 05/11/2041 - 11/30/2051

      1,475,000        1,064,144  

QUALCOMM, Inc.

      

4.30%, 05/20/2047

      3,535,000        3,191,718  
 

 

Transamerica Funds

     Page 4      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Semiconductors & Semiconductor Equipment (continued)  

Texas Instruments, Inc.

      

4.15%, 05/15/2048

      $ 1,284,000        $ 1,131,835  

5.05%, 05/18/2063

      1,570,000        1,564,341  
     

 

 

  
        15,434,279  
     

 

 

  
Software - 3.1%  

Fiserv, Inc.

      

4.40%, 07/01/2049

      1,558,000        1,354,170  

Intuit, Inc.

      

5.50%, 09/15/2053

      1,438,000        1,529,607  

Microsoft Corp.

      

2.92%, 03/17/2052

      3,212,000        2,303,727  

Oracle Corp.

      

3.65%, 03/25/2041

      2,328,000        1,847,828  

6.90%, 11/09/2052

      7,555,000        8,847,336  
     

 

 

  
         15,882,668  
     

 

 

  
Technology Hardware, Storage & Peripherals - 0.3%  

Apple, Inc.

      

3.45%, 02/09/2045

      2,150,000        1,770,991  
     

 

 

  
Tobacco - 0.8%  

BAT Capital Corp.

      

4.76%, 09/06/2049

      2,147,000        1,687,790  

7.08%, 08/02/2053

      2,117,000        2,243,821  
     

 

 

  
        3,931,611  
     

 

 

  
Wireless Telecommunication Services - 1.1%  

Axiata Spv5 Labuan Ltd.

      

3.06%, 08/19/2050 (D)

      648,000        435,004  

T-Mobile USA, Inc.

      

3.30%, 02/15/2051

      656,000        466,908  

4.50%, 04/15/2050

      2,265,000        1,978,799  

5.65%, 01/15/2053

      2,435,000        2,509,971  
     

 

 

  
        5,390,682  
     

 

 

  

Total Corporate Debt Securities
(Cost $408,858,625)

 

       428,375,309  
  

 

 

  
FOREIGN GOVERNMENT OBLIGATIONS - 2.3%  
Chile - 0.3%  

Chile Government International Bonds

      

4.00%, 01/31/2052 (E)

       2,029,000         1,618,371  
     

 

 

  
Colombia - 0.2%  

Colombia Government International Bonds

      

3.13%, 04/15/2031

      353,000        282,402  

5.00%, 06/15/2045

      1,084,000        790,166  
     

 

 

  
        1,072,568  
     

 

 

  
Cote d’Ivoire - 0.3%  

Ivory Coast Government International Bonds

      

6.13%, 06/15/2033 (A)

      1,405,000        1,263,320  
     

 

 

  
Dominican Republic - 0.2%  

Dominican Republic International Bonds

      

6.85%, 01/27/2045 (D)

      1,274,000        1,242,705  
     

 

 

  
Guatemala - 0.2%  

Guatemala Government Bonds

      

6.13%, 06/01/2050 (D)

      1,125,000        1,017,973  
     

 

 

  
Indonesia - 0.2%  

Indonesia Government International Bonds

      

5.13%, 01/15/2045 (A)

      825,000        809,550  
     

 

 

  
     Principal      Value  
FOREIGN GOVERNMENT OBLIGATIONS (continued)  
Mexico - 0.1%  

Mexico Government International Bonds

      

4.60%, 02/10/2048

      $  766,000        $  616,984  
     

 

 

  
Panama - 0.2%  

Panama Government International Bonds

      

4.50%, 04/01/2056

       1,184,000        755,767  
     

 

 

  
Peru - 0.1%  

Peru Government International Bonds

      

5.63%, 11/18/2050

      612,000        618,063  
     

 

 

  
Qatar - 0.1%  

Qatar Government International Bonds

      

5.10%, 04/23/2048 (A)

      501,000        484,914  
     

 

 

  
Republic of South Africa - 0.1%  

Republic of South Africa Government International Bonds

      

6.25%, 03/08/2041

      648,000        545,843  
     

 

 

  
Saudi Arabia - 0.1%  

Saudi Government International Bonds

      

5.25%, 01/16/2050 (A)

      589,000        550,458  
     

 

 

  
Uzbekistan - 0.2%  

Republic of Uzbekistan International Bonds

      

3.90%, 10/19/2031 (D)

      1,354,000        1,097,336  
     

 

 

  

Total Foreign Government Obligations
(Cost $11,209,552)

 

       11,693,852  
  

 

 

  
MUNICIPAL GOVERNMENT OBLIGATION - 0.2%  
New York - 0.2%  

Metropolitan Transportation Authority, Revenue Bonds,

      

Series E,

      

6.81%, 11/15/2040

      880,000        993,010  
     

 

 

  

Total Municipal Government Obligation
(Cost $983,593)

 

      993,010  
  

 

 

  
U.S. GOVERNMENT OBLIGATIONS - 11.7%  
U.S. Treasury - 11.7%  

U.S. Treasury Bonds

      

1.25%, 05/15/2050

       41,890,000         21,771,346  

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

      538,000        482,479  

4.13%, 08/15/2053

      853,000        837,406  

4.25%, 05/15/2039

      4,029,000        4,086,445  

4.75%, 11/15/2053

      12,279,000        13,382,191  

U.S. Treasury Notes

      

3.75%, 12/31/2030

      3,100,000        3,066,578  

4.38%, 11/30/2028

      2,498,000        2,551,278  

4.50%, 11/15/2033

      7,797,000        8,132,027  

4.75%, 11/15/2043

      5,762,000        6,087,013  
     

 

 

  

Total U.S. Government Obligations
(Cost $59,626,911)

 

      60,396,763  
  

 

 

  
 

 

Transamerica Funds

     Page 5      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Shares      Value  
OTHER INVESTMENT COMPANY - 1.4%  
Securities Lending Collateral - 1.4%  

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

      7,165,215        $  7,165,215  
     

 

 

  

Total Other Investment Company
(Cost $7,165,215)

 

       7,165,215  
  

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 1.9%              

Fixed Income Clearing Corp., 2.50% (F), dated 01/31/2024, to be repurchased at $9,805,329 on 02/01/2024. Collateralized by a U.S. Government Obligation, 1.88%, due 06/30/2026, and with a value of $10,000,819.

      $ 9,804,648        9,804,648  
     

 

 

  

Total Repurchase Agreement
(Cost $9,804,648)

         9,804,648  
  

 

 

  

Total Investments
(Cost $502,150,161)

          522,951,247  

Net Other Assets (Liabilities) - (1.8)%

         (9,373,544 ) 
     

 

 

  

Net Assets - 100.0%

         $ 513,577,703  
     

 

 

  
 

 

Transamerica Funds

     Page 6      

Transamerica Long Credit

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION:

 

Valuation Inputs (G)

 

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

ASSETS

            

Investments

 

Asset-Backed Securities

    $ —       $ 4,522,450      $ —       $ 4,522,450  

Corporate Debt Securities

      —         428,375,309        —         428,375,309  

Foreign Government Obligations

      —         11,693,852        —         11,693,852  

Municipal Government Obligation

      —         993,010        —         993,010  

U.S. Government Obligations

      —         60,396,763        —         60,396,763  

Other Investment Company

      7,165,215        —         —         7,165,215  

Repurchase Agreement

      —         9,804,648        —         9,804,648  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $  7,165,215      $  515,786,032      $  —       $  522,951,247  
  

 

 

     

 

 

     

 

 

     

 

 

  

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 $51,632,664, representing 10.1% of the Fund’s net assets.
(B)      Perpetual maturity. The date displayed is the next call date.
(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 under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At January 31, 2024, the total value of Regulation S securities is $12,355,827, representing 2.4% 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 $7,020,654, collateralized by cash collateral of $7,165,215. 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)      Rates disclosed reflect the yields at January 31, 2024.
(G)      There were no transfers in or out of Level 3 during the period ended January 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

 

REIT

    Real Estate Investment Trust

 

Transamerica Funds

     Page 7      

Transamerica Long Credit

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION

Transamerica Long Credit (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:

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.

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.

Municipal government obligations: The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. 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.

 

Transamerica Funds

     Page 8      

Transamerica Long Credit

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

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.

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 9