NPORT-EX 2 NPORT_I3BD_50889829_0124.htm HTML

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES - 92.5%  
Aerospace & Defense - 1.3%  

TransDigm, Inc.

      

4.88%, 05/01/2029

      $ 7,340,000        $ 6,859,218  

5.50%, 11/15/2027

      3,158,000        3,088,051  

6.88%, 12/15/2030 (A)

      3,089,000        3,166,343  

7.13%, 12/01/2031 (A)

      836,000        871,665  

Triumph Group, Inc.

      

7.75%, 08/15/2025 (B)

      2,660,000        2,661,663  

9.00%, 03/15/2028 (A)

      6,042,000        6,374,654  
     

 

 

  
        23,021,594  
     

 

 

  
Automobile Components - 2.8%  

Clarios Global LP

      

6.75%, 05/15/2025 (A)

      1,881,000        1,880,164  

Clarios Global LP/Clarios US Finance Co.

      

6.25%, 05/15/2026 (A)

      4,886,000        4,877,156  

6.75%, 05/15/2028 (A)

      2,187,000        2,216,021  

8.50%, 05/15/2027 (A)

      5,527,000        5,548,417  

Dana Financing Luxembourg SARL

      

5.75%, 04/15/2025 (A)

      3,572,000        3,560,748  

Dana, Inc.

      

4.25%, 09/01/2030

      224,000        195,859  

4.50%, 02/15/2032

      3,422,000        2,942,099  

5.38%, 11/15/2027

      3,051,000        2,977,471  

5.63%, 06/15/2028 (B)

      1,580,000        1,528,858  

Goodyear Tire & Rubber Co.

      

4.88%, 03/15/2027 (B)

      2,303,000        2,223,648  

5.00%, 05/31/2026

      3,153,000        3,092,697  

5.00%, 07/15/2029 (B)

      2,932,000        2,742,502  

9.50%, 05/31/2025

      5,459,000        5,541,977  

ZF North America Capital, Inc.

      

4.75%, 04/29/2025 (A)

      4,650,000        4,578,814  

6.88%, 04/14/2028 (A)

      3,142,000        3,236,586  

7.13%, 04/14/2030 (A)

      2,016,000        2,126,838  
     

 

 

  
        49,269,855  
     

 

 

  
Automobiles - 1.8%  

Ford Motor Co.

      

6.10%, 08/19/2032

      849,000        849,007  

Ford Motor Credit Co. LLC

      

2.70%, 08/10/2026

      1,636,000        1,520,508  

3.38%, 11/13/2025

      3,066,000        2,942,448  

4.00%, 11/13/2030

      4,118,000        3,673,645  

4.39%, 01/08/2026

      6,119,000        5,963,741  

4.95%, 05/28/2027

      1,741,000        1,703,169  

5.13%, 06/16/2025

      1,398,000        1,386,019  

6.95%, 03/06/2026

      3,381,000        3,458,381  

7.35%, 11/04/2027 - 03/06/2030

      10,150,000        10,767,986  
     

 

 

  
        32,264,904  
     

 

 

  
Banks - 2.5%  

Barclays PLC

      

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

      5,028,000        5,191,189  

Citigroup, Inc.

      

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

      1,351,000        1,262,241  

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

      7,285,000        7,180,329  

Deutsche Bank AG

      

Fixed until 10/14/2030,
3.73% (C), 01/14/2032

      2,552,000        2,140,633  

Fixed until 10/30/2025 (D),
6.00% (C)

      1,400,000        1,267,602  

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

      3,935,000        4,011,656  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Banks (continued)  

Intesa Sanpaolo SpA

      

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

      $  5,148,000        $  4,259,167  

5.71%, 01/15/2026 (A)

      4,247,000        4,232,778  

7.00%, 11/21/2025 (A)

      918,000        940,152  

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

      1,000,000        1,023,294  

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

      2,997,000        3,283,342  

JPMorgan Chase & Co.

      

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

      5,397,000        5,261,235  

Lloyds Banking Group PLC

      

Fixed until 06/27/2024 (D),
7.50% (C)

      2,830,000        2,802,758  

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

      1,400,000        1,584,061  
     

 

 

  
        44,440,437  
     

 

 

  
Beverages - 0.5%  

Primo Water Holdings, Inc.

      

4.38%, 04/30/2029 (A)

      9,880,000        8,992,672  
     

 

 

  
Building Products - 1.7%  

Boise Cascade Co.

      

4.88%, 07/01/2030 (A)

      7,763,000        7,199,943  

Builders FirstSource, Inc.

      

4.25%, 02/01/2032 (A)

      7,618,000        6,845,198  

5.00%, 03/01/2030 (A)

      1,455,000        1,395,035  

6.38%, 06/15/2032 (A)

      4,001,000        4,079,656  

Camelot Return Merger Sub, Inc.

      

8.75%, 08/01/2028 (A)

      4,881,000        5,002,261  

Cornerstone Building Brands, Inc.

      

6.13%, 01/15/2029 (A)

      6,056,000        5,374,700  
     

 

 

  
        29,896,793  
     

 

 

  
Capital Markets - 0.3%  

LPL Holdings, Inc.

      

4.00%, 03/15/2029 (A)

      4,744,000        4,372,335  

4.63%, 11/15/2027 (A)

      862,000        829,838  
     

 

 

  
        5,202,173  
     

 

 

  
Chemicals - 1.7%  

ASP Unifrax Holdings, Inc.

      

5.25%, 09/30/2028 (A)

      2,406,000        1,585,532  

Avient Corp.

      

7.13%, 08/01/2030 (A)

      1,820,000        1,866,732  

Eagle Intermediate Global Holding BV/Eagle US Finance LLC

      

7.50%, 05/01/2025 (A) (B)

      7,289,000        4,841,375  

NOVA Chemicals Corp.

      

4.25%, 05/15/2029 (A)

      2,304,000        1,938,159  

4.88%, 06/01/2024 (A)

      1,589,000        1,576,250  

5.25%, 06/01/2027 (A)

      8,969,000        8,327,723  

Olin Corp.

      

5.00%, 02/01/2030 (B)

      3,224,000        3,053,999  

5.13%, 09/15/2027

      2,530,000        2,454,165  

5.63%, 08/01/2029

      2,971,000        2,911,092  

Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc.

      

5.13%, 04/01/2029 (A)

      4,359,000        1,700,794  
     

 

 

  
        30,255,821  
     

 

 

  
 

 

Transamerica Funds

     Page 1      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Commercial Services & Supplies - 3.8%  

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

      

5.75%, 07/15/2027 (A) (B)

      $  5,099,000        $  4,948,971  

8.00%, 02/15/2031 (A)

      6,140,000        6,127,206  

Benteler International AG

      

10.50%, 05/15/2028 (A) (B)

      4,771,000        5,102,584  

Covanta Holding Corp.

      

4.88%, 12/01/2029 (A)

      3,270,000        2,842,587  

5.00%, 09/01/2030

      2,988,000        2,554,011  

Garda World Security Corp.

      

6.00%, 06/01/2029 (A)

      3,770,000        3,310,803  

9.50%, 11/01/2027 (A)

      2,315,000        2,321,014  

GFL Environmental, Inc.

      

6.75%, 01/15/2031 (A)

      2,420,000        2,474,334  

Herc Holdings, Inc.

      

5.50%, 07/15/2027 (A)

      11,060,000        10,852,404  

Hertz Corp.

      

4.63%, 12/01/2026 (A)

      593,000        534,073  

5.00%, 12/01/2029 (A)

      9,182,000        7,321,177  

Stericycle, Inc.

      

5.38%, 07/15/2024 (A)

      4,184,000        4,168,310  

United Rentals North America, Inc.

      

3.75%, 01/15/2032

      2,679,000        2,352,586  

4.00%, 07/15/2030

      3,783,000        3,459,060  

6.00%, 12/15/2029 (A)

      4,888,000        4,952,898  

WW International, Inc.

      

4.50%, 04/15/2029 (A)

      8,041,000        3,859,680  
     

 

 

  
        67,181,698  
     

 

 

  
Communications Equipment - 0.4%  

CommScope, Inc.

      

4.75%, 09/01/2029 (A)

      5,888,000        3,914,154  

6.00%, 03/01/2026 (A)

      2,419,000        2,095,290  

8.25%, 03/01/2027 (A)

      3,879,000        1,753,754  
     

 

 

  
        7,763,198  
     

 

 

  
Construction & Engineering - 1.5%  

Abengoa Abenewco 2 SA

      

1.50%, 10/26/2024 (A) (E) (F) (G)

      2,054,420        10,272  

1.50%, 10/26/2024 (A) (E) (F) (G) (H) (I) (J)

      2,038,962        0  

Ashton Woods USA LLC/Ashton Woods Finance Co.

      

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

      3,195,000        2,885,183  

6.63%, 01/15/2028 (A)

      6,039,000        5,975,592  

Beazer Homes USA, Inc.

      

5.88%, 10/15/2027

      2,476,000        2,411,649  

6.75%, 03/15/2025

      6,011,000        6,007,694  

7.25%, 10/15/2029

      4,896,000        4,917,439  

KB Home

      

7.25%, 07/15/2030

      2,128,000        2,186,695  

Meritage Homes Corp.

      

5.13%, 06/06/2027

      1,221,000        1,198,113  

6.00%, 06/01/2025

      1,376,000        1,372,753  
     

 

 

  
        26,965,390  
     

 

 

  
Construction Materials - 1.1%  

Smyrna Ready Mix Concrete LLC

      

6.00%, 11/01/2028 (A)

      6,970,000        6,800,921  

8.88%, 11/15/2031 (A)

      11,000,000        11,554,466  

Summit Materials LLC/Summit Materials Finance Corp.

      

7.25%, 01/15/2031 (A)

      1,455,000        1,512,828  
     

 

 

  
        19,868,215  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Consumer Staples Distribution & Retail - 1.0%  

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

      

3.25%, 03/15/2026 (A)

      $  1,240,000        $  1,177,737  

3.50%, 03/15/2029 (A)

      4,871,000        4,400,958  

4.63%, 01/15/2027 (A)

      6,888,000        6,691,370  

6.50%, 02/15/2028 (A)

      5,098,000        5,160,741  

7.50%, 03/15/2026 (A)

      1,067,000        1,087,324  
     

 

 

  
        18,518,130  
     

 

 

  
Containers & Packaging - 6.0%  

ARD Finance SA

      

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

      3,332,216        1,610,093  

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

      

3.25%, 09/01/2028 (A)

      4,240,000        3,705,221  

4.00%, 09/01/2029 (A) (B)

      7,457,000        6,043,012  

6.00%, 06/15/2027 (A) (B)

      947,000        936,589  

Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.

      

5.25%, 08/15/2027 (A) (B)

      5,269,000        3,940,278  

Ball Corp.

      

2.88%, 08/15/2030

      9,642,000        8,218,371  

6.00%, 06/15/2029

      736,000        743,302  

6.88%, 03/15/2028

      7,503,000        7,752,932  

Cascades, Inc./Cascades USA, Inc.

      

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

      2,189,000        2,150,692  

5.38%, 01/15/2028 (A)

      2,675,000        2,616,134  

Clydesdale Acquisition Holdings, Inc.

      

6.63%, 04/15/2029 (A)

      6,780,000        6,746,145  

Crown Americas LLC/Crown Americas Capital Corp. VI

      

4.75%, 02/01/2026

      11,677,000        11,493,287  

Graphic Packaging International LLC

      

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

      6,853,000        6,288,853  

3.75%, 02/01/2030 (A)

      2,945,000        2,631,254  

4.13%, 08/15/2024

      2,036,000        2,015,564  

Mauser Packaging Solutions Holding Co.

      

7.88%, 08/15/2026 (A)

      3,042,000        3,077,488  

9.25%, 04/15/2027 (A) (B)

      1,009,000        973,924  

OI European Group BV

      

4.75%, 02/15/2030 (A)

      2,197,000        2,033,324  

Owens-Brockway Glass Container, Inc.

      

6.38%, 08/15/2025 (A)

      1,400,000        1,397,145  

7.25%, 05/15/2031 (A)

      2,867,000        2,902,837  

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

      

4.38%, 10/15/2028 (A)

      255,000        237,915  

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

      

4.00%, 10/15/2027 (A)

      8,042,000        7,499,165  

Sealed Air Corp.

      

5.50%, 09/15/2025 (A)

      865,000        866,168  

6.88%, 07/15/2033 (A)

      6,113,000        6,378,860  

Sealed Air Corp./Sealed Air Corp. US

      

6.13%, 02/01/2028 (A)

      2,263,000        2,272,973  

7.25%, 02/15/2031 (A) (B)

      3,669,000        3,835,451  

Trivium Packaging Finance BV

      

5.50%, 08/15/2026 (A)

      5,992,000        5,846,731  

8.50%, 08/15/2027 (A) (B)

      2,419,000        2,365,465  
     

 

 

  
        106,579,173  
     

 

 

  
 

 

Transamerica Funds

     Page 2      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Diversified REITs - 1.5%  

HAT Holdings I LLC/HAT Holdings II LLC

      

3.38%, 06/15/2026 (A)

      $  6,819,000        $  6,363,453  

6.00%, 04/15/2025 (A)

      1,297,000        1,285,944  

8.00%, 06/15/2027 (A)

      3,197,000        3,306,529  

Iron Mountain Information Management Services, Inc.

      

5.00%, 07/15/2032 (A)

      3,660,000        3,301,160  

SBA Communications Corp.

      

3.13%, 02/01/2029

      4,941,000        4,403,722  

3.88%, 02/15/2027

      2,527,000        2,412,399  

VICI Properties LP/VICI Note Co., Inc.

      

3.88%, 02/15/2029 (A)

      2,448,000        2,253,917  

4.63%, 06/15/2025 (A)

      1,508,000        1,485,259  

5.75%, 02/01/2027 (A)

      2,194,000        2,202,568  
     

 

 

  
        27,014,951  
     

 

 

  
Diversified Telecommunication Services - 1.4%  

Iliad Holding SASU

      

6.50%, 10/15/2026 (A)

      3,021,000        2,970,516  

7.00%, 10/15/2028 (A)

      4,021,000        3,985,458  

Level 3 Financing, Inc.

      

3.63%, 01/15/2029 (A)

      4,524,000        1,334,580  

3.75%, 07/15/2029 (A)

      7,153,000        2,038,605  

4.25%, 07/01/2028 (A)

      5,829,000        1,952,715  

10.50%, 05/15/2030 (A) (B)

      7,207,000        7,170,965  

Telecom Italia Capital SA

      

6.00%, 09/30/2034

      2,724,000        2,553,362  

6.38%, 11/15/2033

      3,223,000        3,124,148  
     

 

 

  
        25,130,349  
     

 

 

  
Electric Utilities - 0.4%  

Elwood Energy LLC

      

8.16%, 07/05/2026

      834,271        715,388  

Vistra Operations Co. LLC

      

4.38%, 05/01/2029 (A)

      1,865,000        1,725,195  

5.00%, 07/31/2027 (A)

      4,312,000        4,175,152  

5.63%, 02/15/2027 (A)

      630,000        621,380  
     

 

 

  
        7,237,115  
     

 

 

  
Electrical Equipment - 0.6%  

Energizer Holdings, Inc.

      

4.38%, 03/31/2029 (A)

      3,419,000        3,094,913  

6.50%, 12/31/2027 (A)

      6,816,000        6,784,987  
     

 

 

  
        9,879,900  
     

 

 

  
Electronic Equipment, Instruments & Components - 0.3%  

Sensata Technologies BV

      

4.00%, 04/15/2029 (A)

      3,040,000        2,780,886  

Sensata Technologies, Inc.

      

3.75%, 02/15/2031 (A)

      667,000        580,311  

4.38%, 02/15/2030 (A)

      1,907,000        1,757,758  
     

 

 

  
        5,118,955  
     

 

 

  
Energy Equipment & Services - 1.2%  

Archrock Partners LP/Archrock Partners Finance Corp.

      

6.25%, 04/01/2028 (A) (B)

      5,145,000        5,067,825  

CSI Compressco LP/CSI Compressco Finance, Inc.

      

7.50%, 04/01/2025 (A)

      4,790,000        4,790,000  

PIK Rate 3.50%, Cash Rate 10.00%,
04/01/2026 (A) (G)

      3,997,963        4,182,869  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Energy Equipment & Services (continued)  

Sunnova Energy Corp.

      

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

      $  7,609,000        $  6,589,124  
     

 

 

  
        20,629,818  
     

 

 

  
Financial Services - 1.9%  

Ally Financial, Inc.

      

Fixed until 06/13/2028,
6.99% (C), 06/13/2029

      5,603,000        5,800,203  

ILFC E-Capital Trust I

      

3-Month Term SOFR + 1.81%,
7.19% (C), 12/21/2065 (A)

      17,977,000        13,886,569  

ILFC E-Capital Trust II

      

3-Month Term SOFR + 2.06%,
7.44% (C), 12/21/2065 (A)

      3,354,000        2,646,206  

Macquarie Airfinance Holdings Ltd.

      

8.13%, 03/30/2029 (A)

      6,530,000        6,789,849  

United Wholesale Mortgage LLC

      

5.50%, 04/15/2029 (A)

      1,428,000        1,348,653  

5.75%, 06/15/2027 (A)

      3,595,000        3,527,876  
     

 

 

  
        33,999,356  
     

 

 

  
Food Products - 1.6%  

Chobani LLC/Chobani Finance Corp., Inc.

      

7.63%, 07/01/2029 (A)

      3,510,000        3,550,865  

Darling Ingredients, Inc.

      

5.25%, 04/15/2027 (A)

      600,000        589,572  

6.00%, 06/15/2030 (A)

      1,844,000        1,833,060  

Kraft Heinz Foods Co.

      

5.00%, 06/04/2042

      1,959,000        1,871,128  

6.88%, 01/26/2039

      1,374,000        1,594,526  

Pilgrim’s Pride Corp.

      

3.50%, 03/01/2032

      4,170,000        3,524,394  

Post Holdings, Inc.

      

4.50%, 09/15/2031 (A)

      2,950,000        2,650,262  

4.63%, 04/15/2030 (A)

      3,632,000        3,340,479  

5.50%, 12/15/2029 (A)

      8,718,000        8,427,165  

5.63%, 01/15/2028 (A)

      1,347,000        1,325,524  
     

 

 

  
        28,706,975  
     

 

 

  
Health Care Equipment & Supplies - 0.6%  

Kedrion SpA

      

6.50%, 09/01/2029 (A) (B)

      4,887,000        4,361,647  

Medline Borrower LP

      

3.88%, 04/01/2029 (A)

      7,027,000        6,353,524  
     

 

 

  
        10,715,171  
     

 

 

  
Health Care Providers & Services - 5.3%  

Acadia Healthcare Co., Inc.

      

5.00%, 04/15/2029 (A)

      6,757,000        6,444,489  

AdaptHealth LLC

      

4.63%, 08/01/2029 (A)

      705,000        553,468  

5.13%, 03/01/2030 (A)

      1,284,000        1,007,940  

6.13%, 08/01/2028 (A)

      6,454,000        5,650,348  

CHS/Community Health Systems, Inc.

      

5.25%, 05/15/2030 (A)

      6,375,000        5,275,867  

6.88%, 04/15/2029 (A)

      674,000        458,320  

8.00%, 03/15/2026 (A)

      2,627,000        2,608,404  

DaVita, Inc.

      

3.75%, 02/15/2031 (A)

      8,411,000        6,934,357  

4.63%, 06/01/2030 (A)

      5,473,000        4,842,745  
 

 

Transamerica Funds

     Page 3      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Health Care Providers & Services (continued)  

Encompass Health Corp.

      

4.50%, 02/01/2028

      $  5,334,000        $  5,094,794  

4.63%, 04/01/2031

      638,000        586,138  

4.75%, 02/01/2030

      1,802,000        1,699,749  

5.75%, 09/15/2025

      5,224,000        5,190,853  

HCA, Inc.

      

5.38%, 02/01/2025

      3,103,000        3,100,139  

5.88%, 02/15/2026 - 02/01/2029

      4,331,000        4,391,016  

7.50%, 11/06/2033

      441,000        496,726  

Heartland Dental LLC/Heartland Dental Finance Corp.

      

10.50%, 04/30/2028 (A)

      4,211,000        4,433,004  

Molina Healthcare, Inc.

      

4.38%, 06/15/2028 (A)

      6,021,000        5,642,610  

Tenet Healthcare Corp.

      

4.25%, 06/01/2029

      5,086,000        4,721,681  

4.88%, 01/01/2026

      4,401,000        4,359,062  

5.13%, 11/01/2027

      5,698,000        5,562,961  

6.13%, 10/01/2028 (B)

      6,816,000        6,781,920  

6.13%, 06/15/2030

      3,193,000        3,195,762  

6.25%, 02/01/2027

      4,183,000        4,172,142  
     

 

 

  
        93,204,495  
     

 

 

  
Health Care REITs - 0.2%  

MPT Operating Partnership LP/MPT Finance Corp.

      

3.50%, 03/15/2031

      5,743,000        3,519,376  
     

 

 

  
Hotel & Resort REITs - 0.5%  

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

      

5.88%, 10/01/2028 (A)

      3,062,000        2,981,623  

7.50%, 06/01/2025 (A)

      5,523,000        5,544,450  
     

 

 

  
        8,526,073  
     

 

 

  
Hotels, Restaurants & Leisure - 10.4%  

1011778 BC ULC/New Red Finance, Inc.

      

3.88%, 01/15/2028 (A)

      2,072,000        1,951,111  

4.00%, 10/15/2030 (A)

      3,274,000        2,924,951  

Boyne USA, Inc.

      

4.75%, 05/15/2029 (A)

      7,857,000        7,164,377  

Caesars Entertainment, Inc.

      

6.25%, 07/01/2025 (A) (K)

      9,891,000        9,939,130  

6.50%, 02/15/2032 (A) (L)

      2,300,000        2,327,207  

7.00%, 02/15/2030 (A)

      2,273,000        2,341,733  

Carnival Corp.

      

6.00%, 05/01/2029 (A)

      8,030,000        7,780,080  

7.00%, 08/15/2029 (A)

      590,000        613,584  

7.63%, 03/01/2026 (A) (B)

      1,588,000        1,613,356  

10.50%, 06/01/2030 (A)

      4,563,000        5,010,183  

Carnival Holdings Bermuda Ltd.

      

10.38%, 05/01/2028 (A)

      2,068,000        2,267,105  

Churchill Downs, Inc.

      

5.75%, 04/01/2030 (A)

      7,822,000        7,549,784  

6.75%, 05/01/2031 (A)

      2,906,000        2,947,344  

Hilton Domestic Operating Co., Inc.

      

4.88%, 01/15/2030

      3,842,000        3,703,599  

5.38%, 05/01/2025 (A)

      420,000        418,524  

5.75%, 05/01/2028 (A)

      493,000        493,612  

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

      

4.88%, 07/01/2031 (A)

      6,167,000        5,468,901  

5.00%, 06/01/2029 (A)

      2,959,000        2,734,405  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Hotels, Restaurants & Leisure (continued)  

International Game Technology PLC

      

4.13%, 04/15/2026 (A)

      $  1,429,000        $  1,383,270  

5.25%, 01/15/2029 (A)

      1,938,000        1,891,438  

6.25%, 01/15/2027 (A)

      1,213,000        1,222,510  

6.50%, 02/15/2025 (A)

      3,025,000        3,036,891  

Light & Wonder International, Inc.

      

7.00%, 05/15/2028 (A)

      4,484,000        4,522,204  

MGM Resorts International

      

4.63%, 09/01/2026

      942,000        915,483  

4.75%, 10/15/2028

      2,858,000        2,707,999  

5.50%, 04/15/2027

      8,544,000        8,453,193  

5.75%, 06/15/2025 (B)

      5,440,000        5,443,150  

6.75%, 05/01/2025

      2,345,000        2,350,811  

NCL Corp. Ltd.

      

5.88%, 03/15/2026 - 02/15/2027 (A)

      10,538,000        10,310,867  

8.13%, 01/15/2029 (A)

      2,558,000        2,685,156  

Royal Caribbean Cruises Ltd.

      

5.38%, 07/15/2027 (A)

      3,365,000        3,311,235  

5.50%, 04/01/2028 (A)

      2,984,000        2,946,383  

8.25%, 01/15/2029 (A)

      1,780,000        1,892,665  

11.63%, 08/15/2027 (A)

      11,642,000        12,671,086  

Scientific Games Holdings LP/Scientific Games US FinCo, Inc.

      

6.63%, 03/01/2030 (A)

      4,540,000        4,267,600  

Station Casinos LLC

      

4.50%, 02/15/2028 (A)

      11,119,000        10,450,942  

Travel & Leisure Co.

      

4.50%, 12/01/2029 (A)

      4,912,000        4,481,684  

5.65%, 04/01/2024

      4,162,000        4,153,093  

6.00%, 04/01/2027

      4,976,000        4,977,164  

6.60%, 10/01/2025

      702,000        710,922  

Viking Cruises Ltd.

      

5.88%, 09/15/2027 (A)

      9,333,000        9,037,984  

7.00%, 02/15/2029 (A)

      3,156,000        3,148,110  

9.13%, 07/15/2031 (A)

      2,792,000        2,987,440  

Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.

      

7.13%, 02/15/2031 (A) (B)

      5,951,000        6,137,058  
     

 

 

  
        183,345,324  
     

 

 

  
Household Products - 0.2%  

Central Garden & Pet Co.

      

4.13%, 04/30/2031 (A)

      4,816,000        4,255,807  
     

 

 

  
Independent Power & Renewable Electricity Producers - 1.4%  

Calpine Corp.

      

3.75%, 03/01/2031 (A)

      3,831,000        3,342,089  

4.50%, 02/15/2028 (A)

      3,987,000        3,789,161  

5.00%, 02/01/2031 (A)

      1,198,000        1,086,949  

5.13%, 03/15/2028 (A)

      2,984,000        2,863,737  

5.25%, 06/01/2026 (A)

      5,095,000        5,013,718  

Clearway Energy Operating LLC

      

3.75%, 02/15/2031 (A)

      2,685,000        2,327,554  

4.75%, 03/15/2028 (A)

      3,474,000        3,307,653  

NRG Energy, Inc.

      

3.38%, 02/15/2029 (A)

      1,599,000        1,413,844  

3.88%, 02/15/2032 (A)

      175,000        147,875  

5.75%, 01/15/2028 (B)

      1,739,000        1,721,159  
     

 

 

  
        25,013,739  
     

 

 

  
Insurance - 1.8%  

Constellation Insurance, Inc.

      

6.80%, 01/24/2030 (A)

      8,673,000        8,587,519  

Global Atlantic Finance Co.

      

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

      4,861,000        4,327,437  

7.95%, 06/15/2033 (A)

      3,953,000        4,387,945  
 

 

Transamerica Funds

     Page 4      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

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

Hartford Financial Services Group, Inc.

      

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

      $  6,715,000        $  5,805,620  

HUB International Ltd.

      

7.25%, 06/15/2030 (A)

      2,525,000        2,607,523  

7.38%, 01/31/2032 (A)

      1,430,000        1,466,463  

Lincoln National Corp.

      

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

      6,952,000        5,265,236  
     

 

 

  
        32,447,743  
     

 

 

  
Internet & Catalog Retail - 0.9%  

Uber Technologies, Inc.

      

4.50%, 08/15/2029 (A)

      3,022,000        2,860,445  

7.50%, 09/15/2027 (A)

      4,738,000        4,841,426  

8.00%, 11/01/2026 (A)

      7,512,000        7,648,951  
     

 

 

  
        15,350,822  
     

 

 

  
IT Services - 0.4%  

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

      

6.00%, 11/01/2029 (A)

      7,002,000        6,410,611  
     

 

 

  
Machinery - 1.7%  

Advanced Drainage Systems, Inc.

      

5.00%, 09/30/2027 (A)

      1,281,000        1,235,256  

6.38%, 06/15/2030 (A)

      1,681,000        1,694,919  

Chart Industries, Inc.

      

7.50%, 01/01/2030 (A)

      6,553,000        6,744,171  

GrafTech Global Enterprises, Inc.

      

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

      1,567,000        1,170,954  

Madison IAQ LLC

      

4.13%, 06/30/2028 (A)

      3,229,000        2,967,280  

5.88%, 06/30/2029 (A)

      3,264,000        2,905,488  

SPX Flow, Inc.

      

8.75%, 04/01/2030 (A) (B)

      7,955,000        7,833,534  

Wabash National Corp.

      

4.50%, 10/15/2028 (A)

      6,449,000        5,858,289  
     

 

 

  
        30,409,891  
     

 

 

  
Media - 8.8%  

Adelphia Communications Corp.

      

9.25%, 10/01/2049 (E) (F) (H) (I)

      1,305,000        91  

10.25%, 06/15/2049 - 11/01/2049 (F) (H) (I) (M)

      1,460,000        102  

CCO Holdings LLC/CCO Holdings Capital Corp.

      

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

      7,045,000        5,747,581  

4.50%, 08/15/2030 (A)

      4,451,000        3,867,950  

4.50%, 05/01/2032

      6,225,000        5,199,103  

4.75%, 03/01/2030 - 02/01/2032 (A)

      10,583,000        9,230,456  

5.00%, 02/01/2028 (A)

      4,251,000        4,013,367  

5.38%, 06/01/2029 (A)

      1,794,000        1,676,358  

5.50%, 05/01/2026 (A)

      1,500,000        1,486,191  

Clear Channel Outdoor Holdings, Inc.

      

7.50%, 06/01/2029 (A) (B)

      894,000        742,539  

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

      1,123,000        974,824  

9.00%, 09/15/2028 (A)

      4,740,000        4,934,340  

CSC Holdings LLC

      

4.50%, 11/15/2031 (A)

      3,586,000        2,573,185  

4.63%, 12/01/2030 (A)

      3,542,000        1,807,926  

5.00%, 11/15/2031 (A)

      1,505,000        759,498  

5.38%, 02/01/2028 (A)

      1,942,000        1,668,310  

5.75%, 01/15/2030 (A)

      12,503,000        6,626,590  

6.50%, 02/01/2029 (A)

      2,516,000        2,145,142  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Media (continued)  

CSC Holdings LLC (continued)

      

7.50%, 04/01/2028 (A) (B)

      $ 3,569,000        $ 2,389,953  

11.25%, 05/15/2028 (A)

      2,900,000        2,935,673  

11.75%, 01/31/2029 (A)

      1,668,000        1,696,295  

DISH DBS Corp.

      

5.25%, 12/01/2026 (A)

      1,189,000        937,782  

5.75%, 12/01/2028 (A)

      3,059,000        2,068,266  

7.38%, 07/01/2028

      2,669,000        1,174,360  

7.75%, 07/01/2026

      1,280,000        754,208  

DISH Network Corp.

      

11.75%, 11/15/2027 (A)

      2,311,000        2,407,339  

Gray Television, Inc.

      

5.38%, 11/15/2031 (A)

      12,263,000        9,643,042  

7.00%, 05/15/2027 (A) (B)

      933,000        912,008  

iHeartCommunications, Inc.

      

5.25%, 08/15/2027 (A)

      2,893,000        2,244,158  

6.38%, 05/01/2026 (B)

      4,101,000        3,522,331  

8.38%, 05/01/2027

      6,613,759        4,096,974  

LCPR Senior Secured Financing DAC

      

5.13%, 07/15/2029 (A)

      3,582,000        3,142,130  

6.75%, 10/15/2027 (A)

      6,932,000        6,733,870  

Light & Wonder International, Inc.

      

7.50%, 09/01/2031 (A)

      1,637,000        1,703,420  

Sirius XM Radio, Inc.

      

4.13%, 07/01/2030 (A)

      7,166,000        6,261,293  

5.00%, 08/01/2027 (A)

      250,000        240,250  

5.50%, 07/01/2029 (A)

      3,157,000        3,010,010  

Sunrise FinCo I BV

      

4.88%, 07/15/2031 (A)

      4,892,000        4,305,694  

Sunrise HoldCo IV BV

      

5.50%, 01/15/2028 (A)

      2,314,000        2,204,987  

TEGNA, Inc.

      

4.63%, 03/15/2028

     3,142,000        2,931,894  

4.75%, 03/15/2026

     1,592,000        1,548,862  

Univision Communications, Inc.

      

6.63%, 06/01/2027 (A)

      4,884,000        4,831,854  

8.00%, 08/15/2028 (A)

      2,917,000        2,966,822  

Virgin Media Finance PLC

      

5.00%, 07/15/2030 (A)

      4,057,000        3,616,977  

Virgin Media Secured Finance PLC

      

4.50%, 08/15/2030 (A)

      1,369,000        1,223,202  

5.50%, 05/15/2029 (A)

      8,274,000        7,958,583  

VZ Secured Financing BV

      

5.00%, 01/15/2032 (A)

      17,008,000        14,879,501  
     

 

 

  
        155,795,291  
     

 

 

  
Metals & Mining - 4.5%  

Big River Steel LLC/BRS Finance Corp.

      

6.63%, 01/31/2029 (A)

      3,948,000        3,989,730  

Cleveland-Cliffs, Inc.

      

6.75%, 03/15/2026 (A)

      5,427,000        5,483,810  

Constellium SE

      

5.63%, 06/15/2028 (A)

      6,591,000        6,441,706  

5.88%, 02/15/2026 (A)

      8,451,000        8,389,308  

Enviri Corp.

      

5.75%, 07/31/2027 (A) (B)

      9,340,000        8,779,357  

First Quantum Minerals Ltd.

      

7.50%, 04/01/2025 (A)

      2,765,000        2,720,400  

FMG Resources August 2006 Pty. Ltd.

      

5.88%, 04/15/2030 (A)

      5,511,000        5,442,956  

6.13%, 04/15/2032 (A)

      2,176,000        2,152,545  

Freeport-McMoRan, Inc.

      

4.13%, 03/01/2028

      2,057,000        1,978,402  

4.38%, 08/01/2028

      4,477,000        4,318,716  
 

 

Transamerica Funds

     Page 5      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Metals & Mining (continued)  

Mineral Resources Ltd.

      

8.13%, 05/01/2027 (A)

      $  5,697,000        $  5,753,970  

8.50%, 05/01/2030 (A)

      6,449,000        6,634,792  

9.25%, 10/01/2028 (A)

      1,101,000        1,159,518  

New Gold, Inc.

      

7.50%, 07/15/2027 (A) (B)

      6,736,000        6,698,513  

Novelis Corp.

      

3.25%, 11/15/2026 (A)

      1,322,000        1,237,753  

3.88%, 08/15/2031 (A)

      612,000        531,464  

4.75%, 01/30/2030 (A)

      7,822,000        7,257,587  
     

 

 

  
        78,970,527  
     

 

 

  
Mortgage Real Estate Investment Trusts - 0.4%  

Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.

      

4.25%, 02/01/2027 (A)

      2,377,000        2,200,231  

5.25%, 10/01/2025 (A)

      4,127,000        4,056,057  
     

 

 

  
        6,256,288  
     

 

 

  
Oil, Gas & Consumable Fuels - 12.3%  

Antero Midstream Partners LP/Antero Midstream Finance Corp.

      

5.38%, 06/15/2029 (A)

      4,398,000        4,227,118  

6.63%, 02/01/2032 (A)

      3,090,000        3,069,760  

7.88%, 05/15/2026 (A)

      5,399,000        5,535,260  

Callon Petroleum Co.

      

6.38%, 07/01/2026

      1,021,000        1,021,223  

7.50%, 06/15/2030 (A)

      3,859,000        4,064,999  

8.00%, 08/01/2028 (A)

      490,000        510,602  

Cheniere Energy Partners LP

      

4.00%, 03/01/2031

      5,761,000        5,219,289  

Cheniere Energy, Inc.

      

4.63%, 10/15/2028

      2,473,000        2,393,914  

Chord Energy Corp.

      

6.38%, 06/01/2026 (A)

      4,987,000        4,986,690  

Civitas Resources, Inc.

      

5.00%, 10/15/2026 (A)

      2,768,000        2,696,135  

8.63%, 11/01/2030 (A)

      210,000        224,916  

8.75%, 07/01/2031 (A)

      6,138,000        6,527,849  

Comstock Resources, Inc.

      

5.88%, 01/15/2030 (A)

      4,043,000        3,510,102  

CrownRock LP/CrownRock Finance, Inc.

      

5.00%, 05/01/2029 (A)

      223,000        219,433  

5.63%, 10/15/2025 (A)

      11,964,000        11,918,537  

DCP Midstream Operating LP

      

5.38%, 07/15/2025

      5,213,000        5,219,495  

DT Midstream, Inc.

      

4.13%, 06/15/2029 (A)

      2,541,000        2,328,262  

4.38%, 06/15/2031 (A)

      810,000        729,256  

Energy Transfer LP

      

8.00%, 04/01/2029 (A)

      7,074,000        7,354,838  

EnLink Midstream LLC

      

6.50%, 09/01/2030 (A)

      2,842,000        2,903,660  

EQM Midstream Partners LP

      

6.00%, 07/01/2025 (A)

      554,000        552,771  

6.50%, 07/01/2027 (A)

      2,217,000        2,245,171  

Genesis Energy LP/Genesis Energy Finance Corp.

      

8.25%, 01/15/2029

      356,000        365,952  

8.88%, 04/15/2030

      2,660,000        2,782,927  

Hess Midstream Operations LP

      

4.25%, 02/15/2030 (A)

      272,000        250,166  

5.13%, 06/15/2028 (A)

      4,210,000        4,084,383  

HF Sinclair Corp.

      

6.38%, 04/15/2027 (A)

      4,426,000        4,459,843  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Oil, Gas & Consumable Fuels (continued)  

Ithaca Energy North Sea PLC

      

9.00%, 07/15/2026 (A)

      $  6,358,000        $  6,329,922  

Kinder Morgan, Inc.

      

8.05%, 10/15/2030

      2,486,000        2,881,198  

Moss Creek Resources Holdings, Inc.

      

7.50%, 01/15/2026 (A)

      853,000        849,873  

10.50%, 05/15/2027 (A)

      3,345,000        3,436,934  

NuStar Logistics LP

      

5.63%, 04/28/2027

      4,744,000        4,704,245  

5.75%, 10/01/2025

      944,000        941,640  

6.00%, 06/01/2026

      681,000        679,434  

Occidental Petroleum Corp.

      

5.55%, 03/15/2026

      1,400,000        1,409,448  

5.88%, 09/01/2025

      2,765,000        2,784,367  

6.13%, 01/01/2031 (B)

      871,000        904,272  

6.45%, 09/15/2036

      6,446,000        6,876,270  

6.63%, 09/01/2030

      5,128,000        5,467,474  

7.15%, 05/15/2028

      4,012,000        4,215,041  

Ovintiv, Inc.

      

7.38%, 11/01/2031

      2,000,000        2,216,858  

Parkland Corp.

      

4.50%, 10/01/2029 (A)

      1,799,000        1,654,438  

4.63%, 05/01/2030 (A)

      855,000        782,325  

5.88%, 07/15/2027 (A)

      3,478,000        3,450,810  

PBF Holding Co. LLC/PBF Finance Corp.

      

7.88%, 09/15/2030 (A)

      4,488,000        4,656,569  

Permian Resources Operating LLC

      

7.00%, 01/15/2032 (A)

      8,293,000        8,538,780  

SM Energy Co.

      

5.63%, 06/01/2025

      575,000        571,107  

6.50%, 07/15/2028

      782,000        782,000  

6.63%, 01/15/2027

      4,665,000        4,656,603  

6.75%, 09/15/2026

      3,319,000        3,314,519  

Southwestern Energy Co.

      

4.75%, 02/01/2032

      1,866,000        1,726,347  

5.38%, 03/15/2030

      3,535,000        3,418,633  

Summit Midstream Holdings LLC/Summit Midstream Finance Corp.

      

9.00% (N), 10/15/2026 (A)

      2,219,000        2,219,222  

Summit Midstream Partners LP

      

Fixed until 05/01/2023,
13.08%, 03/04/2024 (D) (E) (F)

      4,423,000        4,190,792  

Targa Resources Partners LP/Targa Resources Partners Finance Corp.

      

4.00%, 01/15/2032

      1,373,000        1,237,512  

4.88%, 02/01/2031

      3,857,000        3,698,863  

5.00%, 01/15/2028

      2,590,000        2,549,302  

5.50%, 03/01/2030

      5,701,000        5,670,129  

Venture Global LNG, Inc.

      

9.50%, 02/01/2029 (A)

      6,430,000        6,817,663  

9.88%, 02/01/2032 (A)

      9,042,000        9,506,454  

Vital Energy, Inc.

      

9.75%, 10/15/2030

      3,645,000        3,875,605  

10.13%, 01/15/2028

      2,900,000        3,037,538  

Western Midstream Operating LP

      

5.30%, 03/01/2048

      6,707,000        5,881,058  

5.45%, 04/01/2044

      2,246,000        2,037,057  
     

 

 

  
        217,372,853  
     

 

 

  
Paper & Forest Products - 0.8%  

Domtar Corp.

      

6.75%, 10/01/2028 (A)

      6,333,000        5,813,578  

Glatfelter Corp.

      

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

      10,322,000        7,457,645  
     

 

 

  
        13,271,223  
     

 

 

  
 

 

Transamerica Funds

     Page 6      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Personal Care Products - 0.6%  

Coty, Inc.

      

5.00%, 04/15/2026 (A)

      $  2,996,000        $  2,937,998  

6.50%, 04/15/2026 (A)

      5,967,000        5,958,814  

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

      

6.63%, 07/15/2030 (A)

      2,120,000        2,166,470  
     

 

 

  
        11,063,282  
     

 

 

  
Pharmaceuticals - 1.0%  

Bausch Health Americas, Inc.

      

8.50%, 01/31/2027 (A) (B)

      3,188,000        1,753,400  

Bausch Health Cos., Inc.

      

5.00%, 01/30/2028 - 02/15/2029 (A)

      2,008,000        851,079  

5.25%, 01/30/2030 (A)

      1,394,000        583,445  

7.00%, 01/15/2028 (A)

      3,255,000        1,415,925  

Grifols SA

      

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

      6,595,000        5,646,969  

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

      

4.13%, 04/30/2028 (A)

      3,806,000        3,482,661  

5.13%, 04/30/2031 (A)

      5,403,000        4,623,452  
     

 

 

  
        18,356,931  
     

 

 

  
Professional Services - 0.3%  

Gartner, Inc.

      

3.63%, 06/15/2029 (A)

      472,000        429,123  

3.75%, 10/01/2030 (A)

      1,745,000        1,563,563  

4.50%, 07/01/2028 (A)

      3,258,000        3,113,654  
     

 

 

  
        5,106,340  
     

 

 

  
Real Estate Management & Development - 0.2%  

Cushman & Wakefield US Borrower LLC

      

6.75%, 05/15/2028 (A)

      3,236,000        3,198,851  

8.88%, 09/01/2031 (A)

      755,000        790,931  
     

 

 

  
        3,989,782  
     

 

 

  
Software - 1.5%  

Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.

      

8.00%, 06/15/2029 (A)

      5,346,000        5,531,381  

Crowdstrike Holdings, Inc.

      

3.00%, 02/15/2029

      5,415,000        4,839,618  

Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL

      

4.63%, 05/01/2028 (A)

      5,655,000        5,147,477  

MSCI, Inc.

      

3.63%, 09/01/2030 (A)

      6,437,000        5,785,109  

Rackspace Technology Global, Inc.

      

3.50%, 02/15/2028 (A)

      3,270,000        1,280,607  

UKG, Inc.

      

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

      4,275,000        4,323,094  
     

 

 

  
        26,907,286  
     

 

 

  
Specialized REITs - 0.5%  

Iron Mountain, Inc.

      

4.50%, 02/15/2031 (A)

      881,000        791,024  

5.25%, 03/15/2028 (A)

      6,192,000        6,005,401  

7.00%, 02/15/2029 (A)

      2,473,000        2,534,961  
     

 

 

  
        9,331,386  
     

 

 

  
     Principal      Value  
CORPORATE DEBT SECURITIES (continued)  
Specialty Retail - 0.6%  

Bath & Body Works, Inc.

      

5.25%, 02/01/2028

      $  743,000        $  727,078  

6.63%, 10/01/2030 (A)

      1,247,000        1,263,544  

6.75%, 07/01/2036

      1,960,000        1,933,259  

6.88%, 11/01/2035

      1,468,000        1,462,897  

7.50%, 06/15/2029 (B)

      4,949,000        5,116,029  

9.38%, 07/01/2025 (A)

      522,000        545,490  
     

 

 

  
        11,048,297  
     

 

 

  
Technology Hardware, Storage & Peripherals - 1.1%  

NCR Voyix Corp.

      

5.00%, 10/01/2028 (A)

      2,600,000        2,451,230  

5.13%, 04/15/2029 (A)

      7,854,000        7,392,170  

5.25%, 10/01/2030 (A)

      2,509,000        2,302,349  

Western Digital Corp.

      

4.75%, 02/15/2026

      6,933,000        6,763,176  
     

 

 

  
        18,908,925  
     

 

 

  
Wireless Telecommunication Services - 1.2%  

Altice France SA

      

5.13%, 07/15/2029 (A)

      506,000        371,114  

5.50%, 10/15/2029 (A)

      5,882,000        4,337,806  

8.13%, 02/01/2027 (A)

      4,624,000        4,132,919  

Sprint LLC

      

7.13%, 06/15/2024

      4,095,000        4,112,632  

7.63%, 03/01/2026

      1,427,000        1,489,250  

Vmed O2 UK Financing I PLC

      

4.25%, 01/31/2031 (A)

      2,322,000        2,030,833  

4.75%, 07/15/2031 (A)

      6,029,000        5,403,354  
     

 

 

  
        21,877,908  
     

 

 

  

Total Corporate Debt Securities
(Cost $1,711,161,839)

 

      1,639,392,843  
     

 

 

  
LOAN ASSIGNMENTS - 2.0%  
Automobile Components - 0.2%  

Clarios Global LP

      

Term Loan B,

      

1-Month Term SOFR + 3.00%,
8.33% (C), 05/06/2030

      2,763,075        2,762,213  
     

 

 

  
Commercial Services & Supplies - 0.3%  

Garda World Security Corp.

      

Term Loan B,

      

TBD, 02/01/2029 (L) (O)

      6,160,000        6,154,499  
     

 

 

  
Containers & Packaging - 0.6%  

Anchor Glass Container Corp.

      

Term Loan,

      

3-Month Term SOFR + 5.00%,
10.83% - 10.90% (C), 06/07/2026

      5,565,565        4,605,505  

Reynolds Group Holdings, Inc.

      

Term Loan B,

      

TBD, 09/24/2028 (O)

      1,741,515        1,741,153  

Term Loan B2,

      

1-Month Term SOFR + 3.25%,
8.70% (C), 02/05/2026

      2,355,517        2,356,695  

Trident TPI Holdings, Inc.

      

Term Loan,

      

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

      2,533,651        2,525,959  
     

 

 

  
        11,229,312  
     

 

 

  
 

 

Transamerica Funds

     Page 7      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

     Principal      Value  
LOAN ASSIGNMENTS (continued)  
Hotels, Restaurants & Leisure - 0.5%  

Caesars Entertainment, Inc.

      

Term Loan B1,

      

TBD, 01/24/2031 (L) (O)

      $  5,175,000        $  5,159,905  

Hilton Grand Vacations Borrower LLC

      

Term Loan B,

      

1-Month Term SOFR + 2.75%,
8.08% (C), 01/17/2031 (L)

      2,830,000        2,821,156  
     

 

 

  
        7,981,061  
     

 

 

  
Software - 0.4%  

Central Parent, Inc.

      

Term Loan B,

      

3-Month Term SOFR + 4.00%,
9.35% (C), 07/06/2029

      6,687,245        6,694,213  
     

 

 

  

Total Loan Assignments
(Cost $35,026,775)

 

      34,821,298  
     

 

 

  
     Shares      Value  
COMMON STOCKS - 0.1%  
Electric Utilities - 0.0% (P)  

Homer City Generation LLC (F) (H) (I)

      270,659        2,707  
     

 

 

  
Oil, Gas & Consumable Fuels - 0.0% (P)  

Ultra Resources, Inc. (F) (H) (I) (J)

      3,226        0  
     

 

 

  
Software - 0.1%  

ASG WT Corp. (F) (H) (I)

      1,265        142,494  

Avaya Holdings Corp. (F) (H)

      233,572        1,518,218  
     

 

 

  
        1,660,712  
     

 

 

  

Total Common Stocks
(Cost $16,709,643)

 

      1,663,419  
     

 

 

  
     Principal      Value  
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 4.0%  

U.S. Treasury Bills

      

5.35% (Q), 02/13/2024

      $ 70,765,000        70,641,182  
     

 

 

  

Total Short-Term U.S. Government Obligations
(Cost $70,640,890)

 

      70,641,182  
     

 

 

  
     Shares      Value  
OTHER INVESTMENT COMPANY - 3.2%  
Securities Lending Collateral - 3.2%  

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

      56,805,553        56,805,553  
     

 

 

  

Total Other Investment Company
(Cost $56,805,553)

 

      56,805,553  
     

 

 

  
     Principal      Value  
REPURCHASE AGREEMENT - 0.7%  

Fixed Income Clearing Corp., 2.50% (Q), dated 01/31/2024, to be repurchased at $11,637,090 on 02/01/2024. Collateralized by a U.S. Government Obligation, 4.50%, due 07/15/2026, and with a value of $11,869,106.

      $ 11,636,282        $  11,636,282  
     

 

 

  

Total Repurchase Agreement
(Cost $11,636,282)

 

      11,636,282  
     

 

 

  

Total Investments
(Cost $1,901,980,982)

 

      1,814,960,577  

Net Other Assets (Liabilities) - (2.5)%

         (43,685,093 ) 
     

 

 

  

Net Assets - 100.0%

         $ 1,771,275,484  
     

 

 

  
 

 

Transamerica Funds

     Page 8      

Transamerica High Yield Bond

 

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION:

 

Valuation Inputs (R)

 

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

ASSETS

 

Investments

            

Corporate Debt Securities

    $ —       $ 1,639,392,650      $ 193      $ 1,639,392,843  

Loan Assignments

      —         34,821,298        —         34,821,298  

Common Stocks

      —         1,518,218        145,201        1,663,419  

Short-Term U.S. Government Obligations

      —         70,641,182        —         70,641,182  

Other Investment Company

      56,805,553        —         —         56,805,553  

Repurchase Agreement

      —         11,636,282        —         11,636,282  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $  56,805,553      $  1,758,009,630      $  145,394      $  1,814,960,577  
  

 

 

     

 

 

     

 

 

     

 

 

  

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 $1,211,045,850, representing 68.4% 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 $60,876,556, collateralized by cash collateral of $56,805,553 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $5,344,130. 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)      Securities in default; no interest payments received and/or dividends declared during the last 12 months. At January 31, 2024, the total value of such securities is $4,201,155, representing 0.2% of the Fund’s net assets.
(F)      Non-income producing securities.
(G)      Payment in-kind. Securities pay interest or dividends in the form of additional bonds or preferred stock. If the securities make a cash payment in addition to in-kind, the cash rate is disclosed separately.
(H)      Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2024, the total value of securities is $1,663,612, representing 0.1% of the Fund’s net assets.
(I)      Securities are Level 3 of the fair value hierarchy.
(J)      Securities deemed worthless.
(K)      Restricted security. At January 31, 2024, the value of such security held by the Fund is as follows:

 

Investments

   

Description

    Acquisition
Date		      Acquisition
Cost		      Value      Value as
Percentage of
Net Assets		  

Corporate Debt Securities

   

Caesars Entertainment, Inc.
6.25%, 07/01/2025

      03/22/2022 - 12/07/2023      $  9,911,771      $  9,939,130        0.6 % 

 

(L)      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.
(M)      Escrow position. Position represents remaining escrow balance expected to be received upon finalization of restructuring.
(N)      Step bond. Coupon rate changes in increments to maturity. The rate disclosed is as of January 31, 2024; the maturity date disclosed is the ultimate maturity date.
(O)      All or a portion of the security represents unsettled loan commitments at January 31, 2024 where the rate will be determined at time of settlement.
(P)      Percentage rounds to less than 0.1% or (0.1)%.
(Q)      Rates disclosed reflect the yields at January 31, 2024.
(R)      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.
(S)      Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

 

REIT

    Real Estate Investment Trust

SOFR

    Secured Overnight Financing Rate

TBD

    To Be Determined

 

Transamerica Funds

     Page 9      

Transamerica High Yield Bond

 

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

 

INVESTMENT VALUATION

Transamerica High Yield Bond (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:

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.

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.

 

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Transamerica High Yield Bond

 

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

 

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.

Restricted securities: Restricted securities for which quotations are not readily available are valued at fair value. Restricted securities issued by publicly traded companies are generally valued at a discount to similar publicly traded securities. Restricted securities issued by nonpublic entities may be valued by reference to comparable public entities and/or fundamental data relating to the issuer. Depending on the relative significance of observable valuation inputs, these instruments may be classified in either Level 2 or Level 3 of the fair value hierarchy.

 

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