Honeywell International, Inc.

HTML

Transamerica Balanced II

SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)


	Shares		Value
COMMON STOCKS - 60.2%
Aerospace & Defense - 0.9%
Howmet Aerospace, Inc.		3,852		$ 216,713
RTX Corp.		5,023		457,696
Textron, Inc.		3,111		263,533

				937,942

Air Freight & Logistics - 0.6%
FedEx Corp.		737		177,831
United Parcel Service, Inc., Class B		3,188		452,377

				630,208

Automobile Components - 0.1%
Aptiv PLC ^(A)		1,406		114,350
BorgWarner, Inc.		359		12,170

				126,520

Automobiles - 0.7%
Tesla, Inc. ^(A)		3,971		743,729

Banks - 2.1%
Bank of America Corp.		22,732		773,115
Fifth Third Bancorp		6,980		238,995
Truist Financial Corp.		9,609		356,110
US Bancorp		8,222		341,542
Wells Fargo & Co.		10,575		530,653

				2,240,415

Beverages - 1.1%
Coca-Cola Co.		9,974		593,353
Monster Beverage Corp. ^(A)		1,388		76,368
PepsiCo, Inc.		3,299		555,980

				1,225,701

Biotechnology - 1.9%
AbbVie, Inc.		4,993		820,849
Biogen, Inc. ^(A)		772		190,422
BioMarin Pharmaceutical, Inc. ^(A)		612		53,905
Neurocrine Biosciences, Inc. ^(A)		338		47,242
Regeneron Pharmaceuticals, Inc. ^(A)		442		416,709
Sarepta Therapeutics, Inc. ^(A)		236		28,082
Vertex Pharmaceuticals, Inc. ^(A)		977		423,412

				1,980,621

Broadline Retail - 2.4%
Amazon.com, Inc. ^(A)		16,865		2,617,448

Building Products - 0.6%
Masco Corp.		2,445		164,524
Trane Technologies PLC		1,890		476,375

				640,899

Capital Markets - 1.5%
Blackstone, Inc.		465		57,869
Charles Schwab Corp.		4,258		267,913
CME Group, Inc.		1,140		234,658
Goldman Sachs Group, Inc.		455		174,724
Intercontinental Exchange, Inc.		2,672		340,226
Morgan Stanley		2,411		210,336
S&P Global, Inc.		565		253,318
State Street Corp.		784		57,914

				1,596,958


	Shares		Value
COMMON STOCKS (continued)
Chemicals - 1.2%
Air Products & Chemicals, Inc.		399		$ 102,028
Dow, Inc.		5,640		302,304
Eastman Chemical Co.		1,820		152,061
Linde PLC		1,102		446,123
LyondellBasell Industries NV, Class A		1,767		166,310
PPG Industries, Inc.		645		90,971

				1,259,797

Commercial Services & Supplies - 0.1%
Cintas Corp.		111		67,107

Communications Equipment - 0.1%
Motorola Solutions, Inc.		362		115,659

Consumer Finance - 0.1%
Capital One Financial Corp.		742		100,407

Consumer Staples Distribution & Retail - 1.3%
Costco Wholesale Corp.		934		649,018
Dollar Tree, Inc. ^(A)		579		75,629
Target Corp.		2,069		287,757
Walmart, Inc.		2,106		348,016

				1,360,420

Containers & Packaging - 0.0% ^(B)
International Paper Co.		519		18,596

Distributors - 0.0% ^(B)
LKQ Corp.		1,104		51,524

Electric Utilities - 1.1%
Constellation Energy Corp.		705		86,010
NextEra Energy, Inc.		6,265		367,317
PG&E Corp.		20,146		339,863
Southern Co.		6,030		419,206

				1,212,396

Electrical Equipment - 0.4%
Eaton Corp. PLC		1,683		414,153

Electronic Equipment, Instruments & Components - 0.2%
Corning, Inc.		1,993		64,753
Keysight Technologies, Inc. ^(A)		1,044		160,003

				224,756

Energy Equipment & Services - 0.1%
Baker Hughes Co.		2,285		65,123

Entertainment - 0.4%
Netflix, Inc. ^(A)		627		353,697
Warner Bros Discovery, Inc. ^(A)		4,397		44,058

				397,755

Financial Services - 3.0%
Berkshire Hathaway, Inc., Class B ^(A)		2,370		909,464
Block, Inc. ^(A)		419		27,239
Fiserv, Inc. ^(A)		699		99,167
FleetCor Technologies, Inc. ^(A)		871		252,529
Mastercard, Inc., Class A		2,349		1,055,241
Visa, Inc., Class A		3,006		821,420

				3,165,060

Food Products - 0.5%
Mondelez International, Inc., Class A		6,953		523,352


Transamerica Funds			Page 1

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Shares		Value
COMMON STOCKS (continued)
Ground Transportation - 0.7%
CSX Corp.		3,752		$ 133,946
Norfolk Southern Corp.		702		165,139
Uber Technologies, Inc. ^(A)		4,056		264,735
Union Pacific Corp.		755		184,167

				747,987

Health Care Equipment & Supplies - 1.5%
Baxter International, Inc.		2,470		95,564
Becton Dickinson & Co.		446		106,509
Boston Scientific Corp. ^(A)		7,657		484,382
Dexcom, Inc. ^(A)		610		74,024
Intuitive Surgical, Inc. ^(A)		385		145,615
Medtronic PLC		4,176		365,567
Stryker Corp.		994		333,467

				1,605,128

Health Care Providers & Services - 1.7%
Centene Corp. ^(A)		2,568		193,396
CVS Health Corp.		1,177		87,534
Elevance Health, Inc.		592		292,116
Humana, Inc.		322		121,735
McKesson Corp.		208		103,977
UnitedHealth Group, Inc.		1,905		974,865

				1,773,623

Health Care REITs - 0.3%
Ventas, Inc.		4,409		204,533
Welltower, Inc.		1,278		110,560

				315,093

Hotels, Restaurants & Leisure - 1.6%
Booking Holdings, Inc. ^(A)		128		448,956
Chipotle Mexican Grill, Inc. ^(A)		163		392,629
Expedia Group, Inc. ^(A)		1,747		259,133
Marriott International, Inc., Class A		770		184,592
Royal Caribbean Cruises Ltd. ^(A)		1,505		191,887
Yum! Brands, Inc.		2,095		271,282

				1,748,479

Household Durables - 0.2%
Lennar Corp., Class A		596		89,311
Toll Brothers, Inc.		747		74,214

				163,525

Household Products - 0.5%
Church & Dwight Co., Inc.		1,633		163,055
Procter & Gamble Co.		2,616		411,078

				574,133

Industrial Conglomerates - 0.6%
Honeywell International, Inc.		3,251		657,547

Industrial REITs - 0.4%
Prologis, Inc.		3,644		461,658

Insurance - 1.4%
Aflac, Inc.		1,863		157,125
Chubb Ltd.		907		222,215
Globe Life, Inc.		1,120		137,558
MetLife, Inc.		2,189		151,742
Progressive Corp.		2,398		427,444
Travelers Cos., Inc.		1,869		395,032

				1,491,116


	Shares		Value
COMMON STOCKS (continued)
Interactive Media & Services - 3.6%
Alphabet, Inc., Class A ^(A)		9,384		$ 1,314,698
Alphabet, Inc., Class C ^(A)		6,523		924,961
Meta Platforms, Inc., Class A ^(A)		4,153		1,620,252

				3,859,911

IT Services - 0.8%
Accenture PLC, Class A		1,512		550,186
Cognizant Technology Solutions Corp., Class A		3,823		294,830

				845,016

Life Sciences Tools & Services - 0.8%
Danaher Corp.		1,754		420,802
Thermo Fisher Scientific, Inc.		802		432,262

				853,064

Machinery - 1.0%
Deere & Co.		1,387		545,895
Dover Corp.		950		142,291
Ingersoll Rand, Inc.		672		53,666
Otis Worldwide Corp.		3,797		335,807

				1,077,659

Media - 0.8%
Charter Communications, Inc., Class A ^(A)		648		240,220
Comcast Corp., Class A		12,349		574,723
Liberty Media Corp. - Liberty SiriusXM, Class A ^(A)		1,555		47,256

				862,199

Metals & Mining - 0.1%
Nucor Corp.		577		107,859

Multi-Utilities - 0.2%
DTE Energy Co.		286		30,150
Public Service Enterprise Group, Inc.		3,931		227,959

				258,109

Oil, Gas & Consumable Fuels - 2.3%
Chevron Corp.		1,767		260,509
ConocoPhillips		3,718		415,933
Diamondback Energy, Inc.		1,687		259,359
EOG Resources, Inc.		3,559		404,978
Exxon Mobil Corp.		9,782		1,005,687
Marathon Oil Corp.		1,809		41,336
Pioneer Natural Resources Co.		118		27,120

				2,414,922

Passenger Airlines - 0.1%
Delta Air Lines, Inc.		2,290		89,631

Personal Care Products - 0.2%
Kenvue, Inc.		7,925		164,523

Pharmaceuticals - 1.9%
Bristol-Myers Squibb Co.		8,840		432,011
Eli Lilly & Co.		1,135		732,767
Johnson & Johnson		2,923		464,465
Merck & Co., Inc.		3,472		419,348

				2,048,591

Professional Services - 0.1%
Leidos Holdings, Inc.		1,358		150,018


Transamerica Funds			Page 2

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Shares		Value
COMMON STOCKS (continued)
Residential REITs - 0.2%
Equity LifeStyle Properties, Inc.		1,581		$ 107,018
Sun Communities, Inc.		562		70,446
UDR, Inc.		585		21,072

				198,536

Semiconductors & Semiconductor Equipment - 5.8%
Advanced Micro Devices, Inc. ^(A)		3,777		633,365
Analog Devices, Inc.		2,492		479,361
Broadcom, Inc.		308		363,440
Lam Research Corp.		682		562,766
Micron Technology, Inc.		1,744		149,548
NVIDIA Corp.		4,350		2,676,424
NXP Semiconductors NV		2,517		530,005
Qorvo, Inc. ^(A)		890		88,769
Teradyne, Inc.		1,378		133,101
Texas Instruments, Inc.		3,604		577,072

				6,193,851

Software - 6.6%
Adobe, Inc. ^(A)		1,172		724,038
Cadence Design Systems, Inc. ^(A)		437		126,057
Intuit, Inc.		778		491,175
Microsoft Corp.		12,808		5,092,205
Oracle Corp.		1,905		212,788
ServiceNow, Inc. ^(A)		609		466,129

				7,112,392

Specialized REITs - 0.4%
Digital Realty Trust, Inc.		1,700		238,782
SBA Communications Corp.		879		196,773

				435,555

Specialty Retail - 1.5%
AutoNation, Inc. ^(A)		675		94,271
AutoZone, Inc. ^(A)		150		414,320
Best Buy Co., Inc.		2,565		185,937
Burlington Stores, Inc. ^(A)		683		130,555
Lowe’s Cos., Inc.		2,774		590,418
O’Reilly Automotive, Inc. ^(A)		35		35,807
TJX Cos., Inc.		2,129		202,063

				1,653,371

Technology Hardware, Storage & Peripherals - 4.1%
Apple, Inc.		22,233		4,099,765
Seagate Technology Holdings PLC		3,166		271,263
Western Digital Corp. ^(A)		514		29,427

				4,400,455

Tobacco - 0.2%
Altria Group, Inc.		1,673		67,121
Philip Morris International, Inc.		1,737		157,806

				224,927

Trading Companies & Distributors - 0.1%
United Rentals, Inc.		202		126,331

Wireless Telecommunication Services - 0.1%
T-Mobile US, Inc.		651		104,961

Total Common Stocks (Cost $37,606,211)				64,436,716


	Shares		Value
PREFERRED STOCK - 0.1%
Banks - 0.1%
Citigroup Capital XIII,
3-Month Term SOFR + 6.63%, 11.95% ^(C)		2,950		$ 85,639

Total Preferred Stock (Cost $85,274)				85,639


	Principal		Value
ASSET-BACKED SECURITIES - 2.2%
Accelerated LLC
Series 2021-1H, Class A,
1.35%, 10/20/2040^(D)		$ 33,050		30,326
Avis Budget Rental Car Funding AESOP LLC
Series 2023-7A, Class A,
5.90%, 08/21/2028^(D)		100,000		102,483
Series 2024-1A, Class A,
5.36%, 06/20/2030^(D)		100,000		101,188
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029^(D)		10,031		9,795
BXG Receivables Note Trust
Series 2023-A, Class A,
5.77%, 11/15/2038^(D)		87,297		87,812
Chase Issuance Trust
Series 2023-A1, Class A,
5.16%, 09/15/2028		100,000		101,577
CIFC Funding Ltd.
Series 2013-2A, Class A1L2,
3-Month Term SOFR + 1.26%, 6.56% ^(C), 10/18/2030 ^(D)		311,854		312,297
First National Master Note Trust
Series 2023-2, Class A,
5.77%, 09/15/2029		95,000		97,181
GM Financial Consumer Automobile Receivables Trust
Series 2023-1, Class A2A,
5.19%, 03/16/2026		73,155		73,029
GoodLeap Sustainable Home Solutions Trust
Series 2021-4GS, Class A,
1.93%, 07/20/2048^(D)		75,134		57,657
Series 2022-1GS, Class A,
2.70%, 01/20/2049^(D)		202,948		164,983
Hertz Vehicle Financing III LLC
Series 2023-3A, Class A,
5.94%, 02/25/2028^(D)		100,000		101,930
JGWPT XXVI LLC
Series 2012-2A, Class A,
3.84%, 10/15/2059^(D)		99,063		91,643
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067^(D)		103,717		94,015
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043^(D)		1,458		1,451
MVW Owner Trust
Series 2023-1A, Class A,
4.93%, 10/20/2040^(D)		81,721		81,215


Transamerica Funds			Page 3

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
ASSET-BACKED SECURITIES (continued)
Octagon Investment Partners 33 Ltd.
Series 2017-1A, Class A1,
3-Month Term SOFR + 1.45%, 6.77%^(C), 01/20/2031 ^(D)		$ 167,982		$ 168,220
Orange Lake Timeshare Trust
Series 2016-A, Class A,
2.61%, 03/08/2029^(D)		13,446		13,122
Series 2019-A, Class A,
3.06%, 04/09/2038^(D)		35,316		34,326
Palmer Square CLO Ltd.
Series 2015-2A, Class A1R2,
3-Month Term SOFR + 1.36%, 6.68%^(C), 07/20/2030 ^(D)		146,474		146,533
Sierra Timeshare Receivables Funding LLC
Series 2021-1A, Class A,
0.99%, 11/20/2037^(D)		44,486		42,042
Series 2023-1A, Class A,
5.20%, 01/20/2040^(D)		63,432		63,623
Series 2023-2A, Class A,
5.80%, 04/20/2040^(D)		75,562		76,756
Series 2023-3A, Class A,
6.10%, 09/20/2040^(D)		91,471		93,642
Trafigura Securitisation Finance PLC
Series 2021-1A, Class A2,
1.08%, 01/15/2025^(D)		130,000		125,649
Veridian Auto Receivables Trust
Series 2023-1A, Class A2,
5.97%, 08/17/2026^(D)		78,006		78,001

Total Asset-Backed Securities (Cost $2,422,602)				2,350,496


CORPORATE DEBT SECURITIES - 14.1%
Aerospace & Defense - 0.3%
Boeing Co.
3.50%, 03/01/2039		91,000		71,672
5.15%, 05/01/2030		85,000		85,091
HEICO Corp.
5.35%, 08/01/2033		108,000		109,628

				266,391

Automobile Components - 0.0% ^(B)
Aptiv PLC/Aptiv Corp.
3.25%, 03/01/2032		54,000		47,557

Automobiles - 0.5%
BMW US Capital LLC
2.80%, 04/11/2026^(D)		65,000		62,530
Ford Motor Co.
4.35%, 12/08/2026		63,000		61,553
General Motors Co.
6.25%, 10/02/2043		15,000		15,360
General Motors Financial Co., Inc.
5.00%, 04/09/2027		70,000		69,903
Nissan Motor Acceptance Co. LLC
7.05%, 09/15/2028^(D)		91,000		95,651
Volkswagen Group of America Finance LLC
1.63%, 11/24/2027^(D)		200,000		177,521

				482,518


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks - 2.5%
Bank of America Corp.
Fixed until 04/25/2033, 5.29%^(C), 04/25/2034		$ 300,000		$ 301,519
Fixed until 01/23/2034, 5.47%^(C), 01/23/2035		52,000		52,935
Barclays PLC
Fixed until 11/02/2025, 7.33%^(C), 11/02/2026		203,000		209,588
Citigroup, Inc.
Fixed until 05/25/2033, 6.17%^(C), 05/25/2034		82,000		85,103
Fifth Third Bancorp
Fixed until 07/27/2028, 6.34%^(C), 07/27/2029		23,000		23,931
Goldman Sachs Group, Inc.
Fixed until 10/21/2031, 2.65%^(C), 10/21/2032		128,000		107,034
ING Groep NV
Fixed until 09/11/2033, 6.11%^(C), 09/11/2034		200,000		209,574
Intesa Sanpaolo SpA
5.02%, 06/26/2024^(D)		65,000		64,600
Fixed until 11/21/2032, 8.25%^(C), 11/21/2033^(D)		200,000		219,109
JPMorgan Chase & Co.
Fixed until 04/22/2026, 1.58%^(C), 04/22/2027		106,000		98,384
Fixed until 01/23/2034, 5.34%^(C), 01/23/2035		52,000		52,824
Fixed until 06/01/2033, 5.35%^(C), 06/01/2034		231,000		234,785
Morgan Stanley
Fixed until 07/21/2033, 5.42%^(C), 07/21/2034		76,000		76,967
Fixed until 01/18/2034, 5.47%^(C), 01/18/2035		39,000		39,769
Fixed until 10/18/2032, 6.34%^(C), 10/18/2033		77,000		82,990
PNC Financial Services Group, Inc.
Fixed until 01/22/2034, 5.68%^(C), 01/22/2035		15,000		15,375
Fixed until 08/18/2033, 5.94%^(C), 08/18/2034		80,000		83,566
Truist Financial Corp.
Fixed until 01/26/2033, 5.12%^(C), 01/26/2034		82,000		79,789
Fixed until 10/28/2032, 6.12%^(C), 10/28/2033		47,000		48,862
Fixed until 10/30/2028, 7.16%^(C), 10/30/2029		40,000		43,181
UBS Group AG
Fixed until 08/12/2032, 6.54%^(C), 08/12/2033 ^(D)		262,000		278,700
US Bancorp
Fixed until 06/10/2033, 5.84%^(C), 06/12/2034		56,000		57,725
Wells Fargo & Co.
Fixed until 07/25/2033, 5.56%^(C), 07/25/2034		114,000		116,228
Fixed until 06/15/2024^(E), 5.90%^(C)		40,000		39,845

				2,622,383

Beverages - 0.1%
Anheuser-Busch InBev Worldwide, Inc.
4.44%, 10/06/2048		68,000		61,592


Transamerica Funds			Page 4

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Beverages (continued)
Constellation Brands, Inc.
3.15%, 08/01/2029		$ 63,000		$ 58,119
3.70%, 12/06/2026		16,000		15,572

				135,283

Biotechnology - 0.2%
Amgen, Inc.
2.80%, 08/15/2041		50,000		36,131
5.60%, 03/02/2043		48,000		49,306
CSL Finance PLC
4.63%, 04/27/2042^(D)		48,000		45,031
Gilead Sciences, Inc.
4.15%, 03/01/2047		24,000		20,744
Royalty Pharma PLC
2.20%, 09/02/2030		77,000		64,547

				215,759

Building Products - 0.1%
Carrier Global Corp.
5.90%, 03/15/2034^(D)		42,000		44,830
Lowe’s Cos., Inc.
3.75%, 04/01/2032^(F)		108,000		100,460

				145,290

Capital Markets - 0.1%
Charles Schwab Corp.
Fixed until 05/19/2033, 5.85%^(C), 05/19/2034		141,000		145,944

Chemicals - 0.2%
Celanese US Holdings LLC
6.70%, 11/15/2033		61,000		65,543
FMC Corp.
5.65%, 05/18/2033^(F)		46,000		45,710
Nutrien Ltd.
4.90%, 03/27/2028		50,000		50,222

				161,475

Commercial Services & Supplies - 0.8%
ADT Security Corp.
4.13%, 08/01/2029^(D)^(F)		79,000		72,902
Ashtead Capital, Inc.
5.80%, 04/15/2034^(D)		200,000		201,193
Carlisle Cos., Inc.
3.75%, 12/01/2027		44,000		42,237
Element Fleet Management Corp.
6.32%, 12/04/2028^(D)		123,000		127,760
General Electric Co.
4.13%, 10/09/2042^(F)		48,000		40,929
4.50%, 03/11/2044		79,000		73,129
GXO Logistics, Inc.
2.65%, 07/15/2031		153,000		126,270
Quanta Services, Inc.
2.90%, 10/01/2030		56,000		49,090
Triton Container International Ltd./TAL International Container Corp.
3.25%, 03/15/2032		160,000		129,876

				863,386

Consumer Finance - 0.1%
Capital One Financial Corp.
Fixed until 02/01/2029, 5.70%^(C), 02/01/2030		83,000		83,729


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Staples Distribution & Retail - 0.2%
7-Eleven, Inc.
1.80%, 02/10/2031^(D)		$ 73,000		$ 59,094
Sysco Corp.
3.30%, 07/15/2026		104,000		100,950

				160,044

Containers & Packaging - 0.1%
Sonoco Products Co.
2.25%, 02/01/2027		64,000		59,363

Distributors - 0.0% ^(B)
LKQ Corp.
6.25%, 06/15/2033		47,000		49,000

Diversified REITs - 0.7%
Broadstone Net Lease LLC
2.60%, 09/15/2031		96,000		75,399
SBA Tower Trust
1.63%, 05/15/2051^(D)		110,000		98,506
1.88%, 07/15/2050^(D)		56,000		52,067
2.84%, 01/15/2050^(D)		300,000		290,513
VICI Properties LP
4.95%, 02/15/2030		118,000		114,491
Weyerhaeuser Co.
4.00%, 04/15/2030		104,000		99,074

				730,050

Diversified Telecommunication Services - 0.2%
Sprint Capital Corp.
6.88%, 11/15/2028		24,000		25,931
Verizon Communications, Inc.
1.68%, 10/30/2030		177,000		145,210
2.99%, 10/30/2056		105,000		68,354

				239,495

Electric Utilities - 0.5%
Appalachian Power Co.
3.40%, 06/01/2025		66,000		64,664
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		34,000		34,818
CMS Energy Corp.
4.88%, 03/01/2044		26,000		24,446
DTE Electric Co.
4.30%, 07/01/2044		101,000		88,620
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		108,000		84,652
Duke Energy Progress LLC
3.60%, 09/15/2047		64,000		48,846
Entergy Arkansas LLC
3.70%, 06/01/2024		48,000		47,653
Oncor Electric Delivery Co. LLC
5.30%, 06/01/2042		20,000		21,128
Pacific Gas & Electric Co.
2.50%, 02/01/2031		69,000		57,154
PacifiCorp
3.60%, 04/01/2024		61,000		60,794
Public Service Electric & Gas Co.
3.00%, 05/15/2025^(F)		49,000		47,919

				580,694

Electronic Equipment, Instruments & Components - 0.2%
Arrow Electronics, Inc.
2.95%, 02/15/2032		85,000		71,834
Keysight Technologies, Inc.
4.60%, 04/06/2027		63,000		62,639


Transamerica Funds			Page 5

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electronic Equipment, Instruments & Components (continued)
Sensata Technologies, Inc.
4.38%, 02/15/2030 ^(D)		$ 50,000		$ 46,087
Trimble, Inc.
6.10%, 03/15/2033		70,000		73,572

				254,132

Energy Equipment & Services - 0.1%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 ^(D)		90,000		87,270

Financial Services - 0.5%
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust
4.45%, 04/03/2026		150,000		147,317
Aviation Capital Group LLC
1.95%, 01/30/2026 ^(D)		49,000		45,737
5.50%, 12/15/2024 ^(D)		147,000		146,551
Avolon Holdings Funding Ltd.
2.88%, 02/15/2025 ^(D)		121,000		117,247
5.50%, 01/15/2026 ^(D)		47,000		46,718

				503,570

Food Products - 0.4%
Bunge Ltd. Finance Corp.
2.75%, 05/14/2031		94,000		81,417
Cargill, Inc.
5.13%, 10/11/2032 ^(D)		49,000		49,770
J M Smucker Co.
6.50%, 11/15/2043		42,000		46,721
Viterra Finance BV
4.90%, 04/21/2027 ^(D)		200,000		198,148

				376,056

Health Care Equipment & Supplies - 0.3%
Alcon Finance Corp.
2.75%, 09/23/2026 ^(D)		200,000		189,210
GE HealthCare Technologies, Inc.
5.86%, 03/15/2030		100,000		105,132

				294,342

Health Care Providers & Services - 0.5%
Centene Corp.
3.00%, 10/15/2030		80,000		69,238
3.38%, 02/15/2030		60,000		53,670
Cigna Group
2.40%, 03/15/2030		61,000		53,239
CVS Health Corp.
2.70%, 08/21/2040		50,000		35,175
5.25%, 01/30/2031		31,000		31,503
Elevance Health, Inc.
2.25%, 05/15/2030		61,000		52,617
5.13%, 02/15/2053		49,000		47,981
HCA, Inc.
4.13%, 06/15/2029		28,000		26,699
4.63%, 03/15/2052		67,000		56,766
5.25%, 04/15/2025		16,000		15,982
Laboratory Corp. of America Holdings
2.95%, 12/01/2029		51,000		46,239
Molina Healthcare, Inc.
4.38%, 06/15/2028 ^(D)		16,000		14,994
UnitedHealth Group, Inc.
5.20%, 04/15/2063		74,000		74,110

				578,213


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care REITs - 0.1%
Physicians Realty LP
2.63%, 11/01/2031		$ 94,000		$ 77,332
Ventas Realty LP
3.25%, 10/15/2026		67,000		63,600

				140,932

Hotels, Restaurants & Leisure - 0.1%
Hyatt Hotels Corp.
1.80%, 10/01/2024		41,000		39,967
Warnermedia Holdings, Inc.
5.05%, 03/15/2042		114,000		100,831

				140,798

Household Durables - 0.0% ^(B)
Mohawk Industries, Inc.
5.85%, 09/18/2028		46,000		47,653

Industrial Conglomerates - 0.1%
Veralto Corp.
5.45%, 09/18/2033 ^(D)		70,000		71,669

Insurance - 0.5%
Constellation Insurance, Inc.
6.80%, 01/24/2030 ^(D)		224,000		221,792
Equitable Holdings, Inc.
5.59%, 01/11/2033		127,000		130,257
Global Atlantic Finance Co.
7.95%, 06/15/2033 ^(D)		124,000		137,644
Prudential Financial, Inc.
Fixed until 07/01/2030, 3.70% ^(C), 10/01/2050		94,000		82,635

				572,328

Interactive Media & Services - 0.4%
Baidu, Inc.
4.38%, 05/14/2024		200,000		199,308
Meta Platforms, Inc.
4.80%, 05/15/2030		76,000		77,341
Tencent Holdings Ltd.
3.28%, 04/11/2024 ^(D)		97,000		96,568

				373,217

Internet & Catalog Retail - 0.0% ^(B)
Expedia Group, Inc.
2.95%, 03/15/2031		6,000		5,252

Machinery - 0.1%
CNH Industrial Capital LLC
4.55%, 04/10/2028		42,000		41,623
Huntington Ingalls Industries, Inc.
2.04%, 08/16/2028		108,000		95,197

				136,820

Media - 0.1%
Charter Communications Operating LLC/Charter Communications Operating Capital
4.80%, 03/01/2050		44,000		33,549
Comcast Corp.
2.94%, 11/01/2056		17,000		10,968


Transamerica Funds			Page 6

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
NBCUniversal Media LLC
4.45%, 01/15/2043		$ 24,000		$ 21,692
Paramount Global
4.20%, 05/19/2032 ^(F)		20,000		17,779

				83,988

Metals & Mining - 0.3%
Anglo American Capital PLC
4.50%, 03/15/2028 ^(D)		200,000		194,593
ArcelorMittal SA
6.55%, 11/29/2027		101,000		105,839
Glencore Funding LLC
2.63%, 09/23/2031 ^(D)		82,000		69,244

				369,676

Office REITs - 0.1%
Corporate Office Properties LP
2.25%, 03/15/2026		35,000		32,880
Highwoods Realty LP
4.13%, 03/15/2028		47,000		43,864
7.65%, 02/01/2034 ^(F)		30,000		32,987

				109,731

Oil, Gas & Consumable Fuels - 1.0%
Boardwalk Pipelines LP
3.40%, 02/15/2031		46,000		41,155
Chevron USA, Inc.
3.25%, 10/15/2029		47,000		44,558
Energy Transfer LP
4.90%, 02/01/2024		41,000		41,000
5.15%, 03/15/2045		75,000		68,711
5.55%, 02/15/2028		43,000		43,762
5.95%, 10/01/2043		28,000		27,744
Enterprise Products Operating LLC
4.25%, 02/15/2048		104,000		90,286
Kinder Morgan Energy Partners LP
4.15%, 02/01/2024		52,000		52,000
Occidental Petroleum Corp.
5.55%, 03/15/2026		62,000		62,419
ONEOK, Inc.
6.10%, 11/15/2032		100,000		105,277
Ovintiv, Inc.
6.25%, 07/15/2033		67,000		69,752
Petroleos Mexicanos
6.84%, 01/23/2030		139,000		119,370
7.69%, 01/23/2050		17,000		11,884
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/2029		52,000		47,820
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028		41,000		40,149
Shell International Finance BV
2.50%, 09/12/2026		103,000		98,151
3.75%, 09/12/2046		30,000		24,542
Western Midstream Operating LP
6.15%, 04/01/2033		69,000		71,347
Williams Cos., Inc.
5.40%, 03/04/2044		28,000		26,979

				1,086,906


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Passenger Airlines - 0.1%
American Airlines Pass-Through Trust
3.20%, 12/15/2029		$ 42,617		$ 39,056
United Airlines Pass-Through Trust
3.75%, 03/03/2028		48,693		46,794

				85,850

Personal Care Products - 0.1%
Kenvue, Inc.
5.00%, 03/22/2030		112,000		114,670

Pharmaceuticals - 0.3%
AbbVie, Inc.
3.20%, 05/14/2026		47,000		45,610
Bristol-Myers Squibb Co.
6.40%, 11/15/2063		14,000		16,059
Merck & Co., Inc.
5.00%, 05/17/2053		87,000		87,078
Pfizer Investment Enterprises Pte. Ltd.
5.11%, 05/19/2043		75,000		74,555
Viatris, Inc.
2.30%, 06/22/2027		47,000		42,800

				266,102

Professional Services - 0.1%
Equifax, Inc.
2.60%, 12/01/2024		52,000		50,844
5.10%, 12/15/2027		79,000		79,649

				130,493

Residential REITs - 0.1%
American Homes 4 Rent LP
5.50%, 02/01/2034		86,000		86,872
Invitation Homes Operating Partnership LP
4.15%, 04/15/2032		48,000		44,045

				130,917

Retail REITs - 0.1%
Realty Income Corp.
4.90%, 07/15/2033		75,000		73,377
Simon Property Group LP
6.25%, 01/15/2034		35,000		37,837

				111,214

Semiconductors & Semiconductor Equipment - 0.9%
Advanced Micro Devices, Inc.
3.92%, 06/01/2032		115,000		109,936
Broadcom, Inc.
3.14%, 11/15/2035 ^(D)		87,000		71,432
Foundry JV Holdco LLC
5.88%, 01/25/2034 ^(D)		200,000		205,723
KLA Corp.
3.30%, 03/01/2050		80,000		59,700
Microchip Technology, Inc.
0.98%, 09/01/2024		70,000		68,136
Micron Technology, Inc.
5.30%, 01/15/2031		87,000		87,868
NXP BV/NXP Funding LLC/NXP USA, Inc.
3.25%, 11/30/2051 ^(F)		39,000		27,189
3.40%, 05/01/2030		75,000		68,500
QUALCOMM, Inc.
3.25%, 05/20/2050 ^(F)		65,000		49,815


Transamerica Funds			Page 7

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Semiconductors & Semiconductor Equipment (continued)
Skyworks Solutions, Inc.
1.80%, 06/01/2026		$ 39,000		$ 36,326
TSMC Global Ltd.
1.38%, 09/28/2030 ^(D)		200,000		162,609

				947,234

Software - 0.5%
Crowdstrike Holdings, Inc.
3.00%, 02/15/2029		15,000		13,406
Fiserv, Inc.
5.45%, 03/02/2028		71,000		72,805
Infor, Inc.
1.75%, 07/15/2025 ^(D)		68,000		64,370
Intuit, Inc.
5.50%, 09/15/2053		33,000		35,102
Oracle Corp.
3.65%, 03/25/2041		57,000		45,243
6.90%, 11/09/2052		91,000		106,566
Rackspace Technology Global, Inc.
3.50%, 02/15/2028 ^(D)		78,000		30,547
Take-Two Interactive Software, Inc.
3.55%, 04/14/2025		114,000		111,827
Workday, Inc.
3.50%, 04/01/2027		73,000		70,669

				550,535

Specialized REITs - 0.1%
Extra Space Storage LP
5.90%, 01/15/2031		106,000		110,138
Tobacco - 0.2%
BAT Capital Corp.
6.42%, 08/02/2033		103,000		107,926
Philip Morris International, Inc.
5.63%, 11/17/2029		77,000		80,284

				188,210

Wireless Telecommunication Services - 0.2%
T-Mobile USA, Inc.
3.88%, 04/15/2030		135,000		127,575
5.15%, 04/15/2034		87,000		87,533

				215,108

Total Corporate Debt Securities (Cost $15,679,978)				15,071,385


FOREIGN GOVERNMENT OBLIGATION - 0.1%
Mexico - 0.1%
Mexico Government International Bonds
3.75%, 01/11/2028		116,000		111,341

Total Foreign Government Obligation (Cost $115,781)				111,341


MORTGAGE-BACKED SECURITIES - 2.2%
Alternative Loan Trust
Series 2007-22, Class 2A16,
6.50%, 09/25/2037		137,972		52,428
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 ^(D)		34,754		31,411
CIM Trust
Series 2021-R6, Class A1,
1.43% ^(C), 07/25/2061 ^(D)		149,118		130,620


	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Citigroup Commercial Mortgage Trust
Series 2015-GC27, Class B,
3.77%, 02/10/2048		$ 157,700		$ 152,233
Citigroup Mortgage Loan Trust, Inc.
Series 2018-RP1, Class A1,
3.00% ^(C), 09/25/2064 ^(D)		19,959		19,231
COMM Mortgage Trust
Series 2015-3BP, Class A,
3.18%, 02/10/2035 ^(D)		310,000		295,623
CSMC Trust
Series 2021-RPL2, Class A1A,
1.11% ^(C), 01/25/2060 ^(D)		131,594		108,606
Series 2021-RPL6, Class A1,
2.00% ^(C), 10/25/2060 ^(D)		113,731		100,147
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 ^(D)		150,000		145,893
GMACM Mortgage Loan Trust
Series 2005-AR1, Class 3A,
4.09% ^(C), 03/18/2035		10,419		8,768
Impac CMB Trust
Series 2004-6, Class 1A1,
1-Month Term SOFR + 0.91%,
6.25% ^(C), 10/25/2034		9,109		8,827
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.32% ^(C), 08/25/2037		80,772		56,884
Merrill Lynch Mortgage Investors Trust
Series 2003-F, Class A1,
1-Month Term SOFR + 0.75%,
6.09% ^(C), 10/25/2028		4,666		4,347
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% ^(C), 12/25/2052 ^(D)		22,053		20,506
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% ^(C), 01/25/2054 ^(D)		11,406		10,754
Series 2014-2A, Class A3,
3.75% ^(C), 05/25/2054 ^(D)		28,859		27,052
Series 2014-3A, Class AFX3,
3.75% ^(C), 11/25/2054 ^(D)		21,276		19,930
Series 2016-3A, Class A1B,
3.25%^(C), 09/25/2056 ^(D)		18,333		16,830
Series 2017-1A, Class A1,
4.00% ^(C), 02/25/2057 ^(D)		37,678		35,655
Series 2017-3A, Class A1,
4.00% ^(C), 04/25/2057 ^(D)		65,123		61,555
Series 2017-4A, Class A1,
4.00% ^(C), 05/25/2057 ^(D)		22,124		20,856
Series 2018-RPL1, Class A1,
3.50% ^(C), 12/25/2057 ^(D)		25,267		24,162
Series 2019-4A, Class A1B,
3.50% ^(C), 12/25/2058 ^(D)		84,864		78,312
Series 2019-5A, Class A1B,
3.50% ^(C), 08/25/2059 ^(D)		70,802		66,139
OBX Trust
Series 2023-NQM4, Class A1,
6.11% ^(C), 03/25/2063 ^(D)		86,282		86,753
Structured Asset Mortgage Investments II Trust
Series 2003-AR4, Class A1,
1-Month Term SOFR + 0.81%, 6.15% ^(C), 01/19/2034		27,208		25,414


Transamerica Funds			Page 8

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Towd Point Mortgage Trust
Series 2017-1, Class A1,
2.75% ^(C), 10/25/2056 ^(D)		$ 1,761		$ 1,751
Series 2017-3, Class A1,
2.75%^(C), 07/25/2057^(D)		5,729		5,637
Series 2017-6, Class A1,
2.75% ^(C), 10/25/2057 ^(D)		17,963		17,217
Series 2018-1, Class A1,
3.00% ^(C), 01/25/2058 ^(D)		25,848		25,157
Series 2018-3, Class A1,
3.75% ^(C), 05/25/2058 ^(D)		71,237		68,679
Series 2018-4, Class A1,
3.00% ^(C), 06/25/2058 ^(D)		116,670		108,894
Series 2020-4, Class A1,
1.75%, 10/25/2060 ^(D)		105,388		93,414
Series 2021-1, Class A1,
2.25% ^(C), 11/25/2061 ^(D)		131,042		120,574
Series 2022-1, Class A1,
3.75% ^(C), 07/25/2062 ^(D)		83,625		78,079
Series 2023-1, Class A1,
3.75%, 01/25/2063 ^(D)		211,049		200,296

Total Mortgage-Backed Securities (Cost $2,565,601)				2,328,634


U.S. GOVERNMENT AGENCY OBLIGATIONS - 9.9%
Federal Home Loan Mortgage Corp.
1-Year RFUCC Treasury + 1.90%, 4.40% ^(C), 02/01/2041		395		394
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
1.38%, 06/25/2030		245,000		203,979
2.89%, 06/25/2027		14,521		14,390
3.01%, 07/25/2025		188,000		183,314
Federal National Mortgage Association
3.50%, 11/01/2028 - 01/01/2029		22,972		22,436
4.00%, 10/01/2025 - 07/01/2026		3,204		3,163
1-Year RFUCC Treasury + 1.75%, 4.25% ^(C), 03/01/2041		417		417
4.50%, 02/01/2025 - 08/01/2052		195,225		188,902
5.00%, 04/01/2039 - 04/01/2053		615,861		610,240
5.50%, 09/01/2036 - 03/01/2053		289,399		292,882
6.00%, 05/01/2038 - 04/01/2040		50,863		52,962
6.50%, 05/01/2040		14,240		14,818
Government National Mortgage Association REMICS, Interest Only STRIPS
0.64% ^(C), 02/16/2053		68,394		1,079
Tennessee Valley Authority
5.88%, 04/01/2036		79,000		89,793
Uniform Mortgage-Backed Security, TBA
2.00%, 02/01/2039 - 02/01/2054 ^(G)		1,027,000		872,111
2.50%, 02/01/2039 - 02/01/2054 ^(G)		2,396,000		2,051,914
3.00%, 02/01/2039 - 02/01/2054 ^(G)		2,015,000		1,783,378
3.50%, 02/01/2039 - 02/01/2054 ^(G)		1,536,000		1,412,959
4.00%, 02/01/2054 ^(G)		845,000		796,179
4.50%, 02/01/2054 ^(G)		746,000		721,697
5.50%, 02/01/2054 ^(G)		882,000		885,233
6.00%, 02/01/2054 ^(G)		339,000		343,893

Total U.S. Government Agency Obligations (Cost $10,639,285)				10,546,133


U.S. GOVERNMENT OBLIGATIONS - 9.9%
U.S. Treasury - 9.1%
U.S. Treasury Bonds
1.25%, 05/15/2050		194,000		100,827
1.88%, 02/15/2051 - 11/15/2051		508,000		310,634
2.00%, 02/15/2050		184,000		117,300


	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury (continued)
U.S. Treasury Bonds (continued)
2.25%, 08/15/2046 - 02/15/2052		$ 215,000		$ 146,544
2.38%, 02/15/2042 - 05/15/2051		277,000		203,110
2.50%, 02/15/2045 - 05/15/2046		585,000		432,689
2.75%, 08/15/2042 - 11/15/2047		731,500		572,055
2.88%, 08/15/2045 - 05/15/2049		356,300		278,840
3.00%, 05/15/2042 - 08/15/2052		367,700		294,016
3.13%, 02/15/2042 - 05/15/2048		333,500		277,010
3.63%, 02/15/2044 - 05/15/2053		535,600		481,822
3.88%, 02/15/2043		107,000		100,547
4.00%, 11/15/2052		115,000		110,324
4.13%, 08/15/2053		63,000		61,848
4.25%, 05/15/2039		103,000		104,468
4.75%, 11/15/2053		203,000		221,238
5.25%, 02/15/2029		115,000		122,187
U.S. Treasury Notes
0.25%, 08/31/2025		351,000		329,021
0.63%, 05/15/2030 - 08/15/2030		472,000		384,292
0.88%, 06/30/2026		204,000		189,130
1.13%, 02/15/2031		596,000		496,962
1.25%, 11/30/2026		135,000		125,049
1.38%, 11/15/2031		178,000		147,629
1.50%, 08/15/2026 - 02/15/2030		234,300		211,362
1.63%, 02/15/2026 - 05/15/2031		1,109,900		1,012,517
1.88%, 02/15/2032		143,100		122,803
2.13%, 05/15/2025		43,000		41,732
2.25%, 11/15/2025 - 11/15/2027		420,300		402,299
2.50%, 05/31/2024		37,000		36,665
2.75%, 05/15/2025 - 08/15/2032		330,000		310,644
2.88%, 05/15/2028 - 05/15/2032		738,200		705,754
3.13%, 11/15/2028		220,500		213,084
3.38%, 05/15/2033		25,000		23,867
3.50%, 02/15/2033		93,000		89,727
3.63%, 05/31/2028		259,000		256,036
3.88%, 08/15/2033		164,900		163,715
4.13%, 07/31/2028 - 11/15/2032		267,800		270,645
4.38%, 11/30/2028		94,000		96,005
4.50%, 11/15/2033		40,500		42,240
4.75%, 11/15/2043		132,000		139,446

				9,746,083

U.S. Treasury Inflation-Protected Securities - 0.8%
U.S. Treasury Inflation-Protected Indexed Bonds
0.25%, 02/15/2050		263,960		169,651
1.75%, 01/15/2028		105,535		105,400
2.50%, 01/15/2029		390,024		404,867
U.S. Treasury Inflation-Protected Indexed Notes
0.13%, 07/15/2030		209,592		190,682

				870,600

Total U.S. Government Obligations (Cost $11,850,718)				10,616,683


COMMERCIAL PAPER - 7.3%
Banks - 2.9%
Cooperatieve Rabobank UA
5.78% ^(H), 02/01/2024		450,000		449,934
Korea Development Bank
5.47% ^(H), 07/08/2024		400,000		390,882
Macquarie Bank Ltd.
5.86% ^(H), 03/01/2024 ^(D)		500,000		497,750
National Bank of Canada
5.86% ^(H), 02/01/2024 ^(D)		450,000		449,934
Nordea Bank Abp
5.80% ^(H), 03/05/2024 ^(D)		450,000		447,746


Transamerica Funds			Page 9

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)


	Principal		Value
COMMERCIAL PAPER (continued)
Banks (continued)
Standard Chartered Bank
5.89% ^(H), 03/07/2024 ^(D)		$ 465,000		$ 462,540
Svenska Handelsbanken AB
5.36% ^(H), 07/30/2024 ^(D)		450,000		438,369

				3,137,155

Consumer Finance - 0.4%
Toyota Motor Credit Corp.
5.46% ^(H), 07/03/2024		400,000		391,035

Financial Services - 3.1%
Alinghi Funding Co. LLC
5.92% ^(H), 04/10/2024 ^(D)		450,000		445,313
Anglesea Funding LLC
5.38% ^(H), 07/26/2024 ^(D)		475,000		462,882
Britannia Funding Co. LLC
5.90% ^(H), 02/07/2024 ^(D)		500,000		499,481
Glencove Funding LLC
5.79% ^(H), 04/10/2024 ^(D)		475,000		470,043
GTA Funding LLC
5.84% ^(H), 02/21/2024 ^(D)		450,000		448,594
Liberty Street Funding LLC
5.65% ^(H), 02/16/2024 ^(D)		250,000		249,406
Starbird Funding Corp.
5.47% ^(H), 07/11/2024 ^(D)		400,000		390,582
5.86% ^(H), 02/01/2024 ^(D)		333,000		332,951

				3,299,252

Health Care Providers & Services - 0.5%
Columbia Funding Co. LLC
5.84% ^(H), 03/05/2024 ^(D)		500,000		497,464
Pharmaceuticals - 0.4%
AstraZeneca PLC
5.41% ^(H), 07/16/2024 ^(D)		500,000		487,564

Total Commercial Paper (Cost $7,812,797)				7,812,470


SHORT-TERM U.S. GOVERNMENT AGENCY OBLIGATION - 0.3%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
Series K728, Class A2,
3.06% ^(C), 08/25/2024		343,021		338,366

Total Short-Term U.S. Government Agency Obligation (Cost $342,552)				338,366


SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 1.2%
U.S. Cash Management Bills
5.44% ^(H), 03/14/2024		128,000		128,000
U.S. Treasury Bills
5.31% ^(H), 03/26/2024		86,000		85,322
5.34% ^(H), 05/02/2024		128,000		126,317
5.35%^(H), 05/02/2024		466,000		460,822
5.37% ^(H), 03/05/2024		508,000		505,558

Total Short-Term U.S. Government Obligations (Cost $1,306,024)				1,306,019


	Shares		Value
OTHER INVESTMENT COMPANY - 0.4%
Securities Lending Collateral - 0.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% ^(H)		404,350		$ 404,350

Total Other Investment Company (Cost $404,350)				404,350


	Principal		Value
REPURCHASE AGREEMENT - 0.7%
Fixed Income Clearing Corp., 2.50%^(H), dated 01/31/2024, to be repurchased at $798,447 on 02/01/2024. Collateralized by U.S. Government Obligations, 1.88% - 4.50%, due 06/30/2026 - 07/15/2026, and with a total value of $814,481.		$ 798,391		798,391

Total Repurchase Agreement (Cost $798,391)				798,391

Total Investments (Cost $91,629,564)				116,206,623
Net Other Assets (Liabilities) - (8.6)%				(9,238,556	)

Net Assets - 100.0%				$ 106,968,067


Transamerica Funds			Page 10

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts


Description	Number of Contracts	Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
S&P 500^® E-Mini Index	1		03/15/2024		$	241,740		$	243,525		$	1,785		$	—

INVESTMENT VALUATION:

Valuation Inputs ^(I)


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	64,436,716	$	—	$	—	$	64,436,716
Preferred Stock		85,639		—		—		85,639
Asset-Backed Securities		—		2,350,496		—		2,350,496
Corporate Debt Securities		—		15,071,385		—		15,071,385
Foreign Government Obligation		—		111,341		—		111,341
Mortgage-Backed Securities		—		2,328,634		—		2,328,634
U.S. Government Agency Obligations		—		10,546,133		—		10,546,133
U.S. Government Obligations		—		10,616,683		—		10,616,683
Commercial Paper		—		7,812,470		—		7,812,470
Short-Term U.S. Government Agency Obligation		—		338,366		—		338,366
Short-Term U.S. Government Obligations		—		1,306,019		—		1,306,019
Other Investment Company		404,350		—		—		404,350
Repurchase Agreement		—		798,391		—		798,391

Total Investments	$	64,926,705	$	51,279,918	$	—	$	116,206,623

Other Financial Instruments
Futures Contracts ^(J)	$	1,785	$	—	$	—	$	1,785

Total Other Financial Instruments	$	1,785	$	—	$	—	$	1,785

FOOTNOTES TO SCHEDULE OF INVESTMENTS:


(A)		Non-income producing securities.
(B)		Percentage rounds to less than 0.1% or (0.1)%.
(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 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 $14,836,991, representing 13.9% of the Fund’s net assets.
(E)		Perpetual maturity. The date displayed is the next call date.
(F)		All or a portion of the securities are on loan. The total value of all securities on loan is $396,070, collateralized by cash collateral of $404,350. 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.
(G)		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.
(H)		Rates disclosed reflect the yields at January 31, 2024.
(I)		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.
(J)		Derivative instruments are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:


REIT		Real Estate Investment Trust
RFUCC		Refinitiv USD IBOR Consumer Cash Fallbacks
SOFR		Secured Overnight Financing Rate
STRIPS		Separate Trading of Registered Interest and Principal of Securities
TBA		To Be Announced


Transamerica Funds			Page 11

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2024

(unaudited)

INVESTMENT VALUATION

Transamerica Balanced II (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 and derivative instruments.

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:

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.

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.


Transamerica Funds			Page 12

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2024

(unaudited)

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.

Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. 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.

U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

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.

Commercial paper: Commercial paper is valued using amortized cost, which approximates fair value. The values are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

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.

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.


Transamerica Funds			Page 13