NPORT-EX 2 NPORT_I0DK_44694495_0124.htm 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

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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.

 

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