Transamerica Mid Cap Growth


	Shares		Value
EXCHANGE-TRADED FUNDS - 50.7%
International Equity Funds - 19.8%
iShares Core MSCI EAFE ETF		96,517		$ 6,743,643
iShares Core MSCI Emerging Markets ETF		35,812		1,735,091
iShares Global REIT ETF		92,537		2,142,232

				10,620,966

U.S. Equity Fund - 23.3%
iShares Core S&P 500 ETF		25,868		12,551,153

U.S. Fixed Income Funds - 7.6%
iShares 0-5 Year TIPS Bond ETF ^(A)		19,114		1,892,668
iShares Core U.S. Aggregate Bond ETF		21,964		2,176,633

				4,069,301

Total Exchange-Traded Funds (Cost $28,285,232)				27,241,420


INVESTMENT COMPANIES - 48.4%
International Equity Funds - 10.8%
Transamerica Emerging Markets Opportunities ^(B)		168,841		1,200,457
Transamerica International Focus ^(B)		292,156		2,284,663
Transamerica International Stock ^(B)		208,181		2,312,887

				5,798,007

International Fixed Income Fund - 2.5%
Transamerica Emerging Markets Debt ^(B)		147,626		1,355,210

U.S. Equity Funds - 24.9%
Transamerica Capital Growth ^{(B) (C)}		216,943		1,596,704
Transamerica Large Cap Value ^(B)		334,005		4,315,339
Transamerica Mid Cap Growth ^{(B) (C)}		150,238		1,344,630
Transamerica Mid Cap Value Opportunities ^(B)		121,598		1,340,015
Transamerica Small Cap Growth ^(B)		166,578		1,069,431
Transamerica Small Cap Value ^(B)		193,845		1,054,519
Transamerica US Growth ^(B)		95,427		2,671,944

				13,392,582

U.S. Fixed Income Funds - 10.2%
Transamerica Bond ^(B)		472,582		3,823,185
Transamerica High Yield Bond ^(B)		201,538		1,626,413

				5,449,598

Total Investment Companies (Cost $29,097,279)				25,995,397


OTHER INVESTMENT COMPANY - 0.1%
Securities Lending Collateral - 0.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% ^(D)		89,505		89,505

Total Other Investment Company (Cost $89,505)				89,505


	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 2.50%^(D), dated 01/31/2024, to be repurchased at $534,405 on 02/01/2024. Collateralized by a U.S. Government Obligation, 4.50%, due 07/15/2026, and with a value of $545,128.		$ 534,368		$ 534,368

Total Repurchase Agreement (Cost $534,368)				534,368

Total Investments (Cost $58,006,384)				53,860,690
Net Other Assets (Liabilities) - (0.2)%				(123,892	)

Net Assets - 100.0%				$ 53,736,798

Transamerica ClearTrack^® 2040 (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.

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.


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	$	3,192,616	$	457,610	$	(50,000	)	$	(12,846	)	$	235,805	$	3,823,185		472,582	$	36,532	$	—
Transamerica Capital Growth		1,334,006		—		(73,059	)		16,660			319,097		1,596,704		216,943		—		—
Transamerica Emerging Markets Debt		979,399		294,983		—			—			80,828		1,355,210		147,626		11,328		—
Transamerica Emerging Markets Opportunities		1,063,986		129,797		—			—			6,674		1,200,457		168,841		31,155		—
Transamerica High Yield Bond		1,246,418		323,968		(20,000	)		(4,094	)		80,121		1,626,413		201,538		19,124		—
Transamerica International Focus		2,035,985		228,219		—			—			20,459		2,284,663		292,156		74,574		102,246
Transamerica International Stock		2,044,321		76,866		(37,023	)		(1,199	)		229,922		2,312,887		208,181		76,866		—
Transamerica Large Cap Value		3,861,971		313,156		(147,081	)		(12,888	)		300,181		4,315,339		334,005		13,365		299,792
Transamerica Mid Cap Growth		1,312,515		—		(240,663	)		(139,680	)		412,458		1,344,630		150,238		—		—
Transamerica Mid Cap Value Opportunities		1,283,401		67,794		(97,720	)		(33,391	)		119,931		1,340,015		121,598		14,435		53,359
Transamerica Small Cap Growth		1,030,475		51,856		(108,620	)		(45,821	)		141,541		1,069,431		166,578		—		51,857
Transamerica Small Cap Value		930,594		32,581		(25,846	)		(34,935	)		152,125		1,054,519		193,845		32,580		—
Transamerica US Growth		2,464,167		93,752		(271,298	)		66,387			318,936		2,671,944		95,427		—		93,752

Total	$	22,779,854	$	2,070,582	$	(1,071,310	)	$	(201,807	)	$	2,418,078	$	25,995,397		2,769,558	$	309,959	$	601,006


(C)		Non-income producing securities.
(D)		Rates disclosed reflect the yields at January 31, 2024.
(E)		There were no transfers in or out of Level 3 during the period ended January 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	27,241,420	$	—	$	—	$	27,241,420
Investment Companies		25,995,397		—		—		25,995,397
Other Investment Company		89,505		—		—		89,505
Repurchase Agreement		—		534,368		—		534,368

Total Investments	$	53,326,322	$	534,368	$	—	$	53,860,690


(A)		All or a portion of the security is on loan. The value of the security on loan is $87,534, collateralized by cash collateral of $89,505. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(B)		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