Transamerica International Stock
SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 80.5% | ||||||||
Australia - 3.7% |
| |||||||
BlueScope Steel Ltd. |
51,439 | $ 785,386 | ||||||
Brambles Ltd. |
221,504 | 2,111,989 | ||||||
CAR Group Ltd. |
55,785 | 1,197,777 | ||||||
CSL Ltd. |
3,779 | 742,111 | ||||||
Goodman Group, REIT |
41,509 | 689,015 | ||||||
Mineral Resources Ltd. |
9,058 | 349,356 | ||||||
Nufarm Ltd. |
130,059 | 468,812 | ||||||
Perseus Mining Ltd. |
629,628 | 741,386 | ||||||
Qantas Airways Ltd. (A) |
460,384 | 1,659,851 | ||||||
Scentre Group, REIT |
167,192 | 332,386 | ||||||
South32 Ltd. |
176,091 | 381,275 | ||||||
|
|
|||||||
9,459,344 | ||||||||
|
|
|||||||
Austria - 0.2% | ||||||||
ams-OSRAM AG (A) |
240,296 | 562,398 | ||||||
|
|
|||||||
Belgium - 0.3% | ||||||||
Anheuser-Busch InBev SA |
12,685 | 784,663 | ||||||
|
|
|||||||
Denmark - 5.5% | ||||||||
Danske Bank AS |
115,916 | 3,112,514 | ||||||
Genmab AS (A) |
3,830 | 1,059,079 | ||||||
Novo Nordisk AS, Class B |
82,019 | 9,375,131 | ||||||
Pandora AS |
3,862 | 564,304 | ||||||
|
|
|||||||
14,111,028 | ||||||||
|
|
|||||||
Finland - 0.4% | ||||||||
Nordea Bank Abp |
88,388 | 1,089,284 | ||||||
|
|
|||||||
France - 8.3% | ||||||||
Air France-KLM (A) |
52,342 | 667,159 | ||||||
BNP Paribas SA |
11,278 | 757,703 | ||||||
Cie de Saint-Gobain SA |
29,337 | 2,074,318 | ||||||
Credit Agricole SA |
72,943 | 1,044,898 | ||||||
Eiffage SA |
14,858 | 1,554,595 | ||||||
Hermes International SCA |
326 | 687,749 | ||||||
LOreal SA |
3,872 | 1,852,961 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
2,957 | 2,460,397 | ||||||
Publicis Groupe SA |
9,485 | 950,336 | ||||||
Renault SA |
56,036 | 2,110,298 | ||||||
Sanofi SA |
14,967 | 1,498,878 | ||||||
Societe Generale SA |
72,842 | 1,872,405 | ||||||
TotalEnergies SE |
30,870 | 2,002,709 | ||||||
Unibail-Rodamco-Westfield, REIT (A) |
16,071 | 1,150,759 | ||||||
Veolia Environnement SA |
26,722 | 870,705 | ||||||
|
|
|||||||
21,555,870 | ||||||||
|
|
|||||||
Germany - 4.6% | ||||||||
Bayerische Motoren Werke AG |
15,222 | 1,583,896 | ||||||
Delivery Hero SE (A) (B) |
7,941 | 180,176 | ||||||
Deutsche Telekom AG |
113,136 | 2,777,241 | ||||||
E.ON SE |
115,574 | 1,563,633 | ||||||
Fresenius SE & Co. KGaA |
22,165 | 622,234 | ||||||
Infineon Technologies AG |
46,470 | 1,694,153 | ||||||
SAP SE |
19,601 | 3,395,806 | ||||||
|
|
|||||||
11,817,139 | ||||||||
|
|
|||||||
Hong Kong - 1.3% | ||||||||
AIA Group Ltd. |
127,400 | 999,124 | ||||||
CK Hutchison Holdings Ltd. |
254,500 | 1,314,447 | ||||||
CLP Holdings Ltd. |
52,000 | 413,579 |
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Hong Kong (continued) | ||||||||
Jardine Matheson Holdings Ltd. |
12,800 | $ 513,972 | ||||||
New World Development Co. Ltd. |
181,000 | 221,843 | ||||||
|
|
|||||||
3,462,965 | ||||||||
|
|
|||||||
Ireland - 0.8% | ||||||||
DCC PLC |
8,520 | 619,398 | ||||||
James Hardie Industries PLC, CDI (A) |
35,026 | 1,315,942 | ||||||
|
|
|||||||
1,935,340 | ||||||||
|
|
|||||||
Israel - 0.6% | ||||||||
Teva Pharmaceutical Industries Ltd., ADR (A) |
120,100 | 1,453,210 | ||||||
|
|
|||||||
Italy - 2.2% | ||||||||
Enel SpA |
181,190 | 1,236,328 | ||||||
Ferrari NV |
1,873 | 653,185 | ||||||
Intesa Sanpaolo SpA |
756,288 | 2,330,345 | ||||||
Leonardo SpA |
82,694 | 1,443,346 | ||||||
|
|
|||||||
5,663,204 | ||||||||
|
|
|||||||
Japan - 23.5% | ||||||||
Canon, Inc. |
48,100 | 1,325,017 | ||||||
Chugoku Electric Power Co., Inc. |
90,700 | 644,904 | ||||||
Cosmo Energy Holdings Co. Ltd. |
15,900 | 660,376 | ||||||
Daiichi Sankyo Co. Ltd. |
43,300 | 1,296,360 | ||||||
Daiwa House Industry Co. Ltd. |
52,900 | 1,635,771 | ||||||
Disco Corp. |
4,100 | 1,106,340 | ||||||
FUJIFILM Holdings Corp. |
50,500 | 3,200,937 | ||||||
Fujitsu Ltd. |
11,600 | 1,605,605 | ||||||
Honda Motor Co. Ltd. |
135,600 | 1,515,745 | ||||||
Ibiden Co. Ltd. |
15,500 | 779,959 | ||||||
Inpex Corp. |
42,700 | 580,398 | ||||||
ITOCHU Corp. |
74,600 | 3,385,654 | ||||||
Japan Tobacco, Inc. |
32,000 | 843,436 | ||||||
KDDI Corp. |
77,100 | 2,554,711 | ||||||
Lawson, Inc. |
20,300 | 1,161,933 | ||||||
Marubeni Corp. |
185,600 | 3,165,717 | ||||||
Mitsubishi Corp. |
160,700 | 2,769,655 | ||||||
Mitsubishi Heavy Industries Ltd. |
50,500 | 3,368,525 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
339,900 | 3,183,689 | ||||||
Mitsui & Co. Ltd. |
33,600 | 1,362,723 | ||||||
Mizuho Financial Group, Inc. |
48,190 | 875,206 | ||||||
MS&AD Insurance Group Holdings, Inc. |
28,300 | 1,168,641 | ||||||
Murata Manufacturing Co. Ltd. |
32,400 | 654,225 | ||||||
NEC Corp. |
17,800 | 1,163,136 | ||||||
Nintendo Co. Ltd. |
27,300 | 1,525,275 | ||||||
Nippon Telegraph & Telephone Corp. |
1,970,500 | 2,474,464 | ||||||
Olympus Corp. |
38,900 | 575,862 | ||||||
Otsuka Holdings Co. Ltd. |
23,900 | 939,469 | ||||||
Renesas Electronics Corp. (A) |
50,100 | 822,020 | ||||||
Sekisui Chemical Co. Ltd. |
97,300 | 1,389,204 | ||||||
Sekisui House Ltd. (C) |
38,000 | 857,819 | ||||||
Seven & i Holdings Co. Ltd. |
23,900 | 943,926 | ||||||
SoftBank Group Corp. |
12,700 | 548,267 | ||||||
Sony Group Corp. |
20,000 | 1,961,366 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
76,900 | 3,999,827 | ||||||
Sysmex Corp. |
15,100 | 818,002 | ||||||
Takeda Pharmaceutical Co. Ltd. |
20,400 | 599,566 | ||||||
Toyota Motor Corp. |
172,900 | 3,452,435 | ||||||
|
|
|||||||
60,916,165 | ||||||||
|
|
|||||||
Netherlands - 4.6% | ||||||||
ASML Holding NV |
7,137 | 6,191,975 | ||||||
Koninklijke Ahold Delhaize NV |
18,953 | 533,018 | ||||||
NN Group NV |
50,954 | 2,088,514 |
Transamerica Funds |
Page 1 |
Transamerica International Stock
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Netherlands (continued) | ||||||||
Prosus NV |
22,537 | $ 670,513 | ||||||
Stellantis NV |
114,356 | 2,518,879 | ||||||
|
|
|||||||
12,002,899 | ||||||||
|
|
|||||||
New Zealand - 0.4% | ||||||||
Xero Ltd. (A) |
12,697 | 908,834 | ||||||
|
|
|||||||
Singapore - 0.9% | ||||||||
DBS Group Holdings Ltd. |
27,600 | 653,714 | ||||||
Oversea-Chinese Banking Corp. Ltd. |
175,000 | 1,673,939 | ||||||
|
|
|||||||
2,327,653 | ||||||||
|
|
|||||||
Spain - 3.1% | ||||||||
Banco Bilbao Vizcaya Argentaria SA |
104,489 | 977,958 | ||||||
Banco Santander SA |
808,229 | 3,248,320 | ||||||
Cellnex Telecom SA (A) (B) |
10,250 | 394,393 | ||||||
Iberdrola SA |
191,944 | 2,311,189 | ||||||
Repsol SA |
30,958 | 457,196 | ||||||
Telefonica SA |
162,138 | 659,713 | ||||||
|
|
|||||||
8,048,769 | ||||||||
|
|
|||||||
Sweden - 2.4% | ||||||||
Alfa Laval AB |
26,976 | 989,825 | ||||||
Assa Abloy AB, Class B |
40,169 | 1,101,664 | ||||||
Atlas Copco AB, A Shares |
151,710 | 2,421,203 | ||||||
Essity AB, Class B |
76,117 | 1,787,477 | ||||||
|
|
|||||||
6,300,169 | ||||||||
|
|
|||||||
Switzerland - 5.7% | ||||||||
Alcon, Inc. |
20,822 | 1,567,376 | ||||||
Cie Financiere Richemont SA, Class A |
5,658 | 840,409 | ||||||
Holcim AG |
30,795 | 2,352,086 | ||||||
Nestle SA |
16,385 | 1,867,079 | ||||||
Novartis AG |
16,919 | 1,749,657 | ||||||
Roche Holding AG |
6,674 | 1,900,197 | ||||||
Swiss Life Holding AG |
2,945 | 2,114,887 | ||||||
UBS Group AG |
80,863 | 2,420,440 | ||||||
|
|
|||||||
14,812,131 | ||||||||
|
|
|||||||
United Kingdom - 12.0% | ||||||||
3i Group PLC |
125,680 | 3,934,405 | ||||||
AstraZeneca PLC |
21,073 | 2,793,792 | ||||||
BAE Systems PLC |
73,990 | 1,102,189 | ||||||
Barclays PLC |
318,337 | 591,574 | ||||||
BP PLC |
198,633 | 1,160,099 | ||||||
Coca-Cola Europacific Partners PLC |
27,154 | 1,870,911 | ||||||
Compass Group PLC |
39,052 | 1,075,639 | ||||||
GSK PLC |
49,927 | 987,443 | ||||||
Halma PLC |
28,078 | 777,173 | ||||||
HSBC Holdings PLC |
419,304 | 3,273,801 | ||||||
Imperial Brands PLC |
52,134 | 1,251,483 | ||||||
Lloyds Banking Group PLC |
1,284,106 | 688,352 | ||||||
Marks & Spencer Group PLC |
150,029 | 468,735 | ||||||
RELX PLC |
36,266 | 1,496,845 | ||||||
Rio Tinto PLC |
35,417 | 2,451,544 | ||||||
Rolls-Royce Holdings PLC (A) |
549,732 | 2,087,030 | ||||||
Sage Group PLC |
69,170 | 1,029,797 | ||||||
Shell PLC |
57,554 | 1,784,307 | ||||||
SSE PLC |
43,933 | 935,682 | ||||||
Standard Chartered PLC |
113,907 | 860,857 | ||||||
Vodafone Group PLC |
661,706 | 562,543 | ||||||
|
|
|||||||
31,184,201 | ||||||||
|
|
|||||||
Total Common Stocks |
|
208,395,266 | ||||||
|
|
Shares | Value | |||||||
PREFERRED STOCK - 0.8% |
| |||||||
Germany - 0.8% | ||||||||
Volkswagen AG, |
16,599 | $ 2,134,881 | ||||||
|
|
|||||||
Total Preferred Stock |
|
2,134,881 | ||||||
|
|
|||||||
OTHER INVESTMENT COMPANY - 0.3% | ||||||||
Securities Lending Collateral - 0.3% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (D) |
779,220 | 779,220 | ||||||
|
|
|||||||
Total Other Investment Company |
|
779,220 | ||||||
|
|
|||||||
Principal | Value | |||||||
REPURCHASE AGREEMENT - 2.4% | ||||||||
Fixed Income Clearing Corp., 2.50% (D), dated 01/31/2024, to be repurchased at $6,314,095 on 02/01/2024. Collateralized by a U.S. Government Obligation, 4.50%, due 07/15/2026, and with a value of $6,440,009. |
$ 6,313,657 | 6,313,657 | ||||||
|
|
|||||||
Total Repurchase Agreement |
|
6,313,657 | ||||||
|
|
|||||||
Total Investments |
|
217,623,024 | ||||||
Net Other Assets (Liabilities) - 16.0% |
41,315,056 | |||||||
|
|
|||||||
Net Assets - 100.0% |
$ 258,938,080 | |||||||
|
|
Transamerica Funds |
Page 2 |
Transamerica International Stock
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
INVESTMENTS BY INDUSTRY:
Industry |
Percentage of Total Investments |
Value | ||||||||
Banks |
13.9 | % | $ | 30,234,386 | ||||||
Pharmaceuticals |
10.4 | 22,593,703 | ||||||||
Automobiles |
6.4 | 13,969,319 | ||||||||
Trading Companies & Distributors |
4.9 | 10,683,749 | ||||||||
Semiconductors & Semiconductor Equipment |
4.8 | 10,376,886 | ||||||||
Machinery |
3.1 | 6,779,553 | ||||||||
Oil, Gas & Consumable Fuels |
3.1 | 6,645,085 | ||||||||
Insurance |
2.9 | 6,371,166 | ||||||||
Capital Markets |
2.9 | 6,354,845 | ||||||||
Diversified Telecommunication Services |
2.9 | 6,305,811 | ||||||||
Electric Utilities |
2.5 | 5,541,682 | ||||||||
Software |
2.4 | 5,334,437 | ||||||||
Metals & Mining |
2.2 | 4,708,947 | ||||||||
Aerospace & Defense |
2.1 | 4,632,565 | ||||||||
Textiles, Apparel & Luxury Goods |
2.1 | 4,552,859 | ||||||||
Technology Hardware, Storage & Peripherals |
2.1 | 4,525,954 | ||||||||
Household Durables |
1.9 | 4,208,389 | ||||||||
Construction Materials |
1.7 | 3,668,028 | ||||||||
Wireless Telecommunication Services |
1.7 | 3,665,521 | ||||||||
Construction & Engineering |
1.5 | 3,190,366 | ||||||||
Building Products |
1.5 | 3,175,982 | ||||||||
Consumer Staples Distribution & Retail |
1.4 | 3,107,612 | ||||||||
Health Care Equipment & Supplies |
1.4 | 2,961,240 | ||||||||
IT Services |
1.3 | 2,768,741 | ||||||||
Beverages |
1.2 | 2,655,574 | ||||||||
Industrial Conglomerates |
1.1 | 2,447,817 | ||||||||
Multi-Utilities |
1.1 | 2,434,338 | ||||||||
Passenger Airlines |
1.1 | 2,327,010 | ||||||||
Electronic Equipment, Instruments & Components |
1.0 | 2,211,357 | ||||||||
Commercial Services & Supplies |
1.0 | 2,111,989 | ||||||||
Tobacco |
1.0 | 2,094,919 | ||||||||
Food Products |
0.9 | 1,867,079 | ||||||||
Personal Care Products |
0.8 | 1,852,961 | ||||||||
Biotechnology |
0.8 | 1,801,190 | ||||||||
Household Products |
0.8 | 1,787,477 | ||||||||
Entertainment |
0.7 | 1,525,275 | ||||||||
Professional Services |
0.7 | 1,496,845 | ||||||||
Retail REITs |
0.7 | 1,483,145 | ||||||||
Hotels, Restaurants & Leisure |
0.6 | 1,255,815 | ||||||||
Interactive Media & Services |
0.5 | 1,197,777 | ||||||||
Media |
0.4 | 950,336 | ||||||||
Industrial REITs |
0.3 | 689,015 | ||||||||
Broadline Retail |
0.3 | 670,513 | ||||||||
Health Care Providers & Services |
0.3 | 622,234 | ||||||||
Chemicals |
0.2 | 468,812 | ||||||||
Real Estate Management & Development |
0.1 | 221,843 | ||||||||
|
|
|
|
|||||||
Investments |
96.7 | 210,530,147 | ||||||||
Short-Term Investments |
3.3 | 7,092,877 | ||||||||
|
|
|
|
|||||||
Total Investments |
100.0 | % | $ | 217,623,024 | ||||||
|
|
|
|
Transamerica Funds |
Page 3 |
Transamerica International Stock
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (E)
Level 1 - Unadjusted Quoted Prices |
Level 2 - Other Significant Observable Inputs |
Level 3 - Significant Unobservable Inputs |
Value | |||||||||||||
ASSETS |
| |||||||||||||||
Investments |
| |||||||||||||||
Common Stocks |
$ | 3,324,121 | $ | 205,071,145 | $ | | $ | 208,395,266 | ||||||||
Preferred Stock |
| 2,134,881 | | 2,134,881 | ||||||||||||
Other Investment Company |
779,220 | | | 779,220 | ||||||||||||
Repurchase Agreement |
| 6,313,657 | | 6,313,657 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments |
$ | 4,103,341 | $ | 213,519,683 | $ | | $ | 217,623,024 | ||||||||
|
|
|
|
|
|
|
|
FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | Non-income producing securities. | |
(B) | 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 $574,569, representing 0.2% of the Funds net assets. | |
(C) | All or a portion of the security is on loan. The value of the security on loan is $740,881, collateralized by cash collateral of $779,220. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers. | |
(D) | Rates disclosed reflect the yields at January 31, 2024. | |
(E) | There were no transfers in or out of Level 3 during the period ended January 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs. |
PORTFOLIO ABBREVIATIONS:
ADR |
American Depositary Receipt | |
CDI |
CHESS Depositary Interests | |
REIT |
Real Estate Investment Trust |
Transamerica Funds |
Page 4 |
Transamerica International Stock
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
INVESTMENT VALUATION
Transamerica International Stock (the Fund) is a series of the Transamerica Funds.
Transamerica Asset Management, Inc. (TAM) has been designated as the Funds 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 Funds 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 TAMs own assumptions used in determining the fair value of the Funds investments.
The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value 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 Funds 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 Funds 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.
Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.
Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.
Transamerica Funds |
Page 5 |