Transamerica Bond
SCHEDULE OF INVESTMENTS
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES - 13.0% | ||||||||
321 Henderson Receivables VI LLC |
| |||||||
Series 2010-1A, Class A, | ||||||||
5.56%, 07/15/2059 (A) | $ 721,654 | $ 810,809 | ||||||
Avid Automobile Receivables Trust | ||||||||
Series 2019-1, Class A, | ||||||||
2.62%, 02/15/2024 (A) | 1,108,526 | 1,120,418 | ||||||
Battalion CLO XII, Ltd. | ||||||||
Series 2018-12A, Class A1, | ||||||||
3-Month LIBOR + 1.07%, | 2,500,000 | 2,443,270 | ||||||
Benefit Street Partners CLO VII, Ltd. | ||||||||
Series 2015-VIIA, Class A2R, | ||||||||
3-Month LIBOR + 1.20%, | 525,000 | 515,869 | ||||||
BRE Grand Islander Timeshare Issuer LLC | ||||||||
Series 2017-1A, Class A, | ||||||||
2.94%, 05/25/2029 (A) | 221,115 | 221,003 | ||||||
BXG Receivables Note Trust | ||||||||
Series 2015-A, Class A, | ||||||||
2.88%, 05/02/2030 (A) | 987,836 | 982,324 | ||||||
CARS-DB4, LP | ||||||||
Series 2020-1A, Class A1, | ||||||||
2.69%, 02/15/2050 (A) | 1,204,132 | 1,224,857 | ||||||
Series 2020-1A, Class A4, | ||||||||
3.19%, 02/15/2050 (A) | 6,010,000 | 6,054,512 | ||||||
CIFC Funding, Ltd. | ||||||||
Series 2013-2A, Class A1LR, | ||||||||
3-Month LIBOR + 1.21%, | 5,000,000 | 4,933,585 | ||||||
Series 2015-2A, Class BR2, | ||||||||
3-Month LIBOR + 1.50%, | 7,030,000 | 6,803,500 | ||||||
Countrywide Asset-Backed Certificates | ||||||||
Series 2002-S3, Class A5, | ||||||||
4.93% (B), 05/25/2032 | 6,731 | 6,615 | ||||||
Series 2006-6, Class 2A3, | ||||||||
1-Month LIBOR + 0.28%, | 446,986 | 444,085 | ||||||
Diamond Resorts Owner Trust | ||||||||
Series 2019-1A, Class A, | ||||||||
2.89%, 02/20/2032 (A) | 1,798,504 | 1,820,826 | ||||||
ExteNet LLC | ||||||||
Series 2019-1A, Class A2, | ||||||||
3.20%, 07/26/2049 (A) | 2,765,000 | 2,771,430 | ||||||
GSAA Home Equity Trust | ||||||||
Series 2006-1, Class A3, | ||||||||
1-Month LIBOR + 0.33%, | 1,280,043 | 758,613 | ||||||
Hertz Vehicle Financing II, LP | ||||||||
Series 2017-2A, Class A, | ||||||||
3.29%, 10/25/2023 (A) | 751,094 | 752,296 | ||||||
Series 2019-1A, Class B, | ||||||||
4.10%, 03/25/2023 (A) | 1,506,000 | 1,508,220 | ||||||
Series 2019-3A, Class B, | ||||||||
3.03%, 12/26/2025 (A) | 4,975,000 | 4,971,308 | ||||||
Hilton Grand Vacations Trust | ||||||||
Series 2018-AA, Class C, | ||||||||
4.00%, 02/25/2032 (A) | 1,119,425 | 1,131,726 | ||||||
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
Jamestown CLO IV, Ltd. | ||||||||
Series 2014-4A, Class A2R, | ||||||||
3-Month LIBOR + 1.35%, | $ 4,400,000 | $ 4,368,351 | ||||||
JG Wentworth XXI LLC | ||||||||
Series 2010-2A, Class A, | ||||||||
4.07%, 01/15/2048 (A) | 581,612 | 615,008 | ||||||
JGWPT XXIII LLC | ||||||||
Series 2011-1A, Class A, | ||||||||
4.70%, 10/15/2056 (A) | 1,519,449 | 1,778,877 | ||||||
Lehman XS Trust | ||||||||
Series 2005-8, Class 1A3, | ||||||||
1-Month LIBOR + 0.35%, | 1,132,482 | 1,155,797 | ||||||
Longfellow Place CLO, Ltd. | ||||||||
Series 2013-1A, Class ARR, | ||||||||
3-Month LIBOR + 1.34%, | 6,954,174 | 6,899,876 | ||||||
Mountain View CLO, Ltd. | ||||||||
Series 2014-1A, Class BRR, | ||||||||
3-Month LIBOR + 1.45%, | 2,000,000 | 1,968,948 | ||||||
MVW LLC | ||||||||
Series 2019-2A, Class B, | ||||||||
2.44%, 10/20/2038 (A) | 1,661,499 | 1,662,719 | ||||||
MVW Owner Trust | ||||||||
Series 2019-1A, Class A, | ||||||||
2.89%, 11/20/2036 (A) | 3,237,237 | 3,336,925 | ||||||
NADG NNN Operating, LP | ||||||||
Series 2019-1, Class A, | ||||||||
3.37%, 12/28/2049 (A) | 5,434,104 | 5,380,567 | ||||||
New Residential Advanced Receivables Trust | ||||||||
Series 2019-T2, Class AT2, | ||||||||
2.52%, 08/15/2053 (A) | 9,790,000 | 9,686,317 | ||||||
Series 2019-T3, Class AT3, | ||||||||
2.51%, 09/15/2052 (A) | 16,323,000 | 16,363,053 | ||||||
Series 2019-T3, Class CT3, | ||||||||
2.71%, 09/15/2052 (A) | 2,000,000 | 1,963,516 | ||||||
Series 2019-T4, Class BT4, | ||||||||
2.46%, 10/15/2051 (A) | 600,000 | 593,264 | ||||||
Series 2019-T4, Class CT4, | ||||||||
2.51%, 10/15/2051 (A) | 3,000,000 | 2,918,797 | ||||||
Series 2019-T4, Class DT4, | ||||||||
2.80%, 10/15/2051 (A) | 4,250,000 | 4,126,223 | ||||||
NRZ Advance Receivables Trust | ||||||||
Series 2019-T1, Class AT1, | ||||||||
2.59%, 07/15/2052 (A) | 905,000 | 906,209 | ||||||
Series 2019-T1, Class BT1, | ||||||||
2.84%, 07/15/2052 (A) | 3,255,000 | 3,228,555 | ||||||
Series 2019-T1, Class DT1, | ||||||||
3.33%, 07/15/2052 (A) | 4,732,000 | 4,664,825 | ||||||
Ocwen Master Advance Receivables Trust | ||||||||
Series 2019-T1, Class AT1, | ||||||||
2.51%, 08/15/2050 (A) | 3,542,000 | 3,541,258 | ||||||
Series 2019-T1, Class BT1, | ||||||||
2.66%, 08/15/2050 (A) | 467,000 | 466,608 | ||||||
Series 2019-T1, Class CT1, | ||||||||
2.81%, 08/15/2050 (A) | 583,000 | 582,508 | ||||||
Series 2019-T1, Class DT1, | ||||||||
3.11%, 08/15/2050 (A) | 636,000 | 635,459 | ||||||
Series 2019-T2, Class AT2, | ||||||||
2.42%, 08/15/2051 (A) | 3,574,000 | 3,574,306 | ||||||
The notes are an integral part of this report. Transamerica Funds | Page 1 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
Ocwen Master Advance Receivables Trust (continued) |
| |||||||
Series 2019-T2, Class BT2, | ||||||||
2.65%, 08/15/2051 (A) | $ 800,000 | $ 798,271 | ||||||
Series 2019-T2, Class CT2, | ||||||||
2.75%, 08/15/2051 (A) | 1,172,000 | 1,168,643 | ||||||
Series 2019-T2, Class DT2, | ||||||||
3.04%, 08/15/2051 (A) | 1,373,000 | 1,369,071 | ||||||
Orange Lake Timeshare Trust | ||||||||
Series 2014-AA, Class A, | ||||||||
2.29%, 07/09/2029 (A) | 167,127 | 167,106 | ||||||
Series 2016-A, Class A, | ||||||||
2.61%, 03/08/2029 (A) | 510,447 | 509,429 | ||||||
Series 2018-A, Class C, | ||||||||
3.74%, 11/08/2030 (A) | 1,005,076 | 978,702 | ||||||
Series 2019-A, Class A, | ||||||||
3.06%, 04/09/2038 (A) | 666,398 | 679,606 | ||||||
Series 2019-A, Class C, | ||||||||
3.61%, 04/09/2038 (A) | 666,395 | 637,611 | ||||||
OZLM Funding IV, Ltd. | ||||||||
Series 2013-4A, Class A2R, | ||||||||
3-Month LIBOR + 1.70%, | 3,750,000 | 3,610,639 | ||||||
Sierra Timeshare Receivables Funding LLC | ||||||||
Series 2018-3A, Class A, | ||||||||
3.69%, 09/20/2035 (A) | 1,294,188 | 1,332,009 | ||||||
Series 2018-3A, Class D, | ||||||||
5.20%, 09/20/2035 (A) | 1,391,863 | 1,366,236 | ||||||
Series 2019-1A, Class B, | ||||||||
3.42%, 01/20/2036 (A) | 1,015,575 | 1,032,416 | ||||||
Series 2019-2A, Class A, | ||||||||
2.59%, 05/20/2036 (A) | 1,434,064 | 1,458,112 | ||||||
Series 2019-2A, Class D, | ||||||||
4.54%, 05/20/2036 (A) | 1,455,021 | 1,386,623 | ||||||
Small Business Lending Trust | ||||||||
Series 2019-A, Class A, | ||||||||
2.85%, 07/15/2026 (A) | 2,946,250 | 2,892,419 | ||||||
Sofi Consumer Loan Program LLC | ||||||||
Series 2017-1, Class A, | ||||||||
3.28%, 01/26/2026 (A) | 102,298 | 102,600 | ||||||
Soundview Home Loan Trust | ||||||||
Series 2006-3, Class A3, | ||||||||
1-Month LIBOR + 0.16%, | 730,769 | 722,196 | ||||||
SPS Servicer Advanced Receivables Trust | ||||||||
Series 2019-T1, Class DT1, | ||||||||
2.63%, 10/15/2051 (A) | 900,000 | 895,247 | ||||||
Series 2019-T2, Class AT2, | ||||||||
2.32%, 10/15/2052 (A) | 7,215,000 | 7,157,571 | ||||||
STORE Master Funding I LLC | ||||||||
Series 2015-1A, Class A1, | ||||||||
3.75%, 04/20/2045 (A) | 4,349,741 | 4,356,531 | ||||||
Series 2015-1A, Class A2, | ||||||||
4.17%, 04/20/2045 (A) | 1,046,781 | 1,054,299 | ||||||
STORE Master Funding I-VII and XIV | ||||||||
Series 2019-1, Class A3, | ||||||||
3.32%, 11/20/2049 (A) | 1,139,190 | 1,123,700 | ||||||
STORE Master Funding LLC | ||||||||
Series 2013-3A, Class A2, | ||||||||
5.21%, 11/20/2043 (A) | 770,990 | 777,100 | ||||||
TICP CLO I, Ltd. | ||||||||
Series 2015-1A, Class AR, | ||||||||
3-Month LIBOR + 0.80%, | 2,299,617 | 2,281,362 | ||||||
Series 2015-1A, Class BR, | ||||||||
3-Month LIBOR + 1.30%, | 1,440,000 | 1,393,112 | ||||||
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
TICP CLO III, Ltd. | ||||||||
Series 2018-3R, Class B, | ||||||||
3-Month LIBOR + 1.35%, | $ 1,250,000 | $ 1,215,710 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2016-4, Class A1, | ||||||||
2.25% (B), 07/25/2056 (A) | 243,846 | 246,316 | ||||||
Series 2017-1, Class A1, | ||||||||
2.75% (B), 10/25/2056 (A) | 2,017,394 | 2,073,245 | ||||||
Series 2017-3, Class A1, | ||||||||
2.75% (B), 07/25/2057 (A) | 1,083,345 | 1,111,302 | ||||||
Series 2017-4, Class A1, | ||||||||
2.75% (B), 06/25/2057 (A) | 1,099,151 | 1,138,144 | ||||||
Series 2017-6, Class A1, | ||||||||
2.75% (B), 10/25/2057 (A) | 2,315,418 | 2,407,998 | ||||||
Series 2018-2, Class A1, | ||||||||
3.25% (B), 03/25/2058 (A) | 4,121,216 | 4,356,616 | ||||||
Series 2018-3, Class A1, | ||||||||
3.75% (B), 05/25/2058 (A) | 7,632,653 | 8,222,288 | ||||||
Series 2018-5, Class A1A, | ||||||||
3.25% (B), 07/25/2058 (A) | 2,907,011 | 3,032,107 | ||||||
Series 2019-1, Class A1, | ||||||||
3.75% (B), 03/25/2058 (A) | 13,071,795 | 14,061,361 | ||||||
Trafigura Securitisation Finance PLC | ||||||||
Series 2018-1A, Class A2, | ||||||||
3.73%, 03/15/2022 (A) | 3,090,000 | 3,129,988 | ||||||
VB-S1 Issuer LLC | ||||||||
Series 2018-1A, Class C, | ||||||||
3.41%, 02/15/2048 (A) | 3,100,000 | 3,192,602 | ||||||
VSE VOI Mortgage LLC | ||||||||
Series 2018-A, Class A, | ||||||||
3.56%, 02/20/2036 (A) | 848,021 | 872,667 | ||||||
Welk Resorts LLC | ||||||||
Series 2015-AA, Class A, | ||||||||
2.79%, 06/16/2031 (A) | 486,089 | 486,777 | ||||||
Series 2019-AA, Class A, | ||||||||
2.80%, 06/15/2038 (A) | 1,625,337 | 1,639,575 | ||||||
Wellfleet CLO, Ltd. | ||||||||
Series 2016-2A, Class A2R, | ||||||||
3-Month LIBOR + 1.58%, | 4,975,000 | 4,782,542 | ||||||
Series 2017-2A, Class A2R, | ||||||||
3-Month LIBOR + 1.62%, | 4,000,000 | 3,839,156 | ||||||
|
| |||||||
Total Asset-Backed Securities |
| 214,752,237 | ||||||
|
| |||||||
| CORPORATE DEBT SECURITIES - 47.4% | ||||||||
| Aerospace & Defense - 0.8% | ||||||||
BAE Systems PLC | ||||||||
3.40%, 04/15/2030 (A) | 1,460,000 | 1,646,130 | ||||||
Boeing Co. | ||||||||
5.15%, 05/01/2030 | 3,026,000 | 3,301,513 | ||||||
5.93%, 05/01/2060 | 3,177,000 | 3,812,610 | ||||||
Huntington Ingalls Industries, Inc. | ||||||||
3.84%, 05/01/2025 (A) | 1,254,000 | 1,393,234 | ||||||
L3 Harris Technologies, Inc. | ||||||||
2.90%, 12/15/2029 | 1,597,000 | 1,774,448 | ||||||
Northrop Grumman Corp. | ||||||||
3.20%, 02/01/2027 | 738,000 | 834,869 | ||||||
|
| |||||||
| 12,762,804 | ||||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 2 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Airlines - 1.1% | ||||||||
American Airlines Pass-Through Trust | ||||||||
3.15%, 08/15/2033 | $ 2,580,645 | $ 2,407,078 | ||||||
3.70%, 04/01/2028 | 1,318,957 | 1,101,638 | ||||||
4.00%, 01/15/2027 | 1,966,515 | 1,625,152 | ||||||
Continental Airlines Pass-Through Trust | ||||||||
6.90%, 10/19/2023 | 70,176 | 57,922 | ||||||
Delta Air Lines Pass-Through Trust | ||||||||
3.20%, 10/25/2025 | 1,655,000 | 1,660,107 | ||||||
6.82%, 02/10/2024 | 1,288,484 | 1,263,242 | ||||||
JetBlue Pass-Through Trust | ||||||||
2.75%, 11/15/2033 | 2,813,275 | 2,645,291 | ||||||
United Airlines Holdings, Inc. | ||||||||
4.25%, 10/01/2022 (C) | 1,500,000 | 1,338,750 | ||||||
4.88%, 01/15/2025 (C) | 1,500,000 | 1,226,250 | ||||||
United Airlines Pass-Through Trust | ||||||||
2.70%, 11/01/2033 | 1,051,000 | 963,273 | ||||||
3.75%, 03/03/2028 | 1,540,117 | 1,421,695 | ||||||
4.15%, 02/25/2033 | 2,133,194 | 2,075,110 | ||||||
US Airways Pass-Through Trust | ||||||||
3.95%, 05/15/2027 | 271,375 | 226,687 | ||||||
|
| |||||||
| 18,012,195 | ||||||||
|
| |||||||
| Auto Components - 0.3% | ||||||||
Clarios Global, LP / Clarios US Finance Co. | ||||||||
6.25%, 05/15/2026 (A) | 3,308,000 | 3,539,957 | ||||||
Weichai International Hong Kong Energy Group Co., Ltd. | ||||||||
Fixed until 09/14/2022 (D), 3.75% (B) (E) | 1,600,000 | 1,616,800 | ||||||
|
| |||||||
| 5,156,757 | ||||||||
|
| |||||||
| Automobiles - 0.4% | ||||||||
Ford Motor Co. | ||||||||
8.50%, 04/21/2023 | 1,203,000 | 1,335,330 | ||||||
9.00%, 04/22/2025 | 1,203,000 | 1,417,285 | ||||||
General Motors Co. | ||||||||
6.25%, 10/02/2043 | 2,723,000 | 3,243,154 | ||||||
|
| |||||||
| 5,995,769 | ||||||||
|
| |||||||
| Banks - 7.5% | ||||||||
Banco Santander SA | ||||||||
2.75%, 05/28/2025 | 3,800,000 | 4,013,856 | ||||||
Bank of America Corp. | ||||||||
Fixed until 12/20/2027, | 6,296,000 | 7,113,800 | ||||||
Fixed until 03/20/2050, | 3,860,000 | 5,013,314 | ||||||
5.88%, 02/07/2042, MTN | 891,000 | 1,384,894 | ||||||
Barclays Bank PLC | ||||||||
10.18%, 06/12/2021 (A) | 3,458,000 | 3,714,102 | ||||||
Barclays PLC | ||||||||
5.20%, 05/12/2026 | 2,094,000 | 2,380,229 | ||||||
Fixed until 06/15/2024 (D), 8.00% (B) | 1,511,000 | 1,599,771 | ||||||
BBVA Bancomer SA | ||||||||
Fixed until 09/13/2029, | 4,955,000 | 4,868,287 | ||||||
6.50%, 03/10/2021 (A) | 1,105,000 | 1,133,730 | ||||||
6.75%, 09/30/2022 (A) | 1,500,000 | 1,621,005 | ||||||
BNP Paribas SA | ||||||||
Fixed until 03/14/2022 (D), 6.75% (A) (B) | 2,429,000 | 2,480,616 | ||||||
BPCE SA | ||||||||
3.50%, 10/23/2027 (A) | 2,046,000 | 2,267,095 | ||||||
4.50%, 03/15/2025 (A) | 3,603,000 | 3,990,986 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Banks (continued) | ||||||||
CIT Bank NA | ||||||||
Fixed until 09/27/2024, | $ 3,010,000 | $ 2,852,878 | ||||||
Citigroup, Inc. | ||||||||
Fixed until 04/24/2024, | 1,000 | 1,089 | ||||||
Fixed until 10/27/2027, | 6,059,000 | 6,829,082 | ||||||
Fixed until 09/12/2024 (D), | 2,894,000 | 2,901,235 | ||||||
Commerzbank AG | ||||||||
8.13%, 09/19/2023 (A) | 2,891,000 | 3,340,495 | ||||||
Credit Agricole SA | ||||||||
3.25%, 01/14/2030 (A) | 4,842,000 | 5,322,896 | ||||||
Credit Suisse AG | ||||||||
6.50%, 08/08/2023 (A) | 3,070,000 | 3,434,563 | ||||||
Danske Bank A/S | ||||||||
Fixed until 12/20/2024, | 3,008,000 | 3,225,436 | ||||||
Discover Bank | ||||||||
4.65%, 09/13/2028 | 2,953,000 | 3,474,402 | ||||||
HBOS PLC | ||||||||
6.00%, 11/01/2033 (A) (C) | 2,303,000 | 3,169,182 | ||||||
ING Bank NV | ||||||||
5.80%, 09/25/2023 (A) | 963,000 | 1,081,888 | ||||||
ING Groep NV | ||||||||
Fixed until 07/01/2025, | 2,245,000 | 2,283,545 | ||||||
Intesa Sanpaolo SpA | ||||||||
4.00%, 09/23/2029 (A) | 1,518,000 | 1,652,779 | ||||||
5.02%, 06/26/2024 (A) | 595,000 | 626,152 | ||||||
JPMorgan Chase & Co. | ||||||||
Fixed until 05/13/2030, | 2,600,000 | 2,831,890 | ||||||
4.13%, 12/15/2026 | 4,486,000 | 5,256,768 | ||||||
Fixed until 02/01/2025 (D), | 5,603,000 | 5,421,463 | ||||||
Lloyds Banking Group PLC | ||||||||
Fixed until 07/09/2024, | 2,636,000 | 2,903,872 | ||||||
Fixed until 06/27/2026 (D), | 1,988,000 | 2,052,610 | ||||||
Macquarie Bank, Ltd. | ||||||||
3.62%, 06/03/2030 (A) | 2,506,000 | 2,682,536 | ||||||
National Australia Bank, Ltd. | ||||||||
Fixed until 08/02/2029, | 2,719,000 | 3,067,580 | ||||||
Synovus Bank | ||||||||
Fixed until 02/10/2022, | 2,850,000 | 2,901,116 | ||||||
Truist Financial Corp. | ||||||||
Fixed until 09/01/2025 (D), | 4,157,000 | 4,437,597 | ||||||
UniCredit SpA | ||||||||
Fixed until 06/30/2030, | 1,858,000 | 1,918,835 | ||||||
6.57%, 01/14/2022 (A) | 2,283,000 | 2,426,854 | ||||||
Wells Fargo & Co. | ||||||||
Fixed until 04/04/2030, | 4,930,000 | 6,054,165 | ||||||
Wells Fargo Bank NA | ||||||||
5.95%, 08/26/2036 | 459,000 | 644,206 | ||||||
|
| |||||||
| 124,376,799 | ||||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 3 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Beverages - 1.7% | ||||||||
Anheuser-Busch InBev Finance, Inc. | ||||||||
3.70%, 02/01/2024 | $ 1,543,000 | $ 1,703,611 | ||||||
Anheuser-Busch InBev Worldwide, Inc. | ||||||||
4.15%, 01/23/2025 | 2,390,000 | 2,727,323 | ||||||
4.44%, 10/06/2048 | 844,000 | 1,014,356 | ||||||
4.75%, 01/23/2029 | 3,118,000 | 3,837,373 | ||||||
Constellation Brands, Inc. | ||||||||
2.65%, 11/07/2022 | 2,509,000 | 2,620,367 | ||||||
3.15%, 08/01/2029 | 1,041,000 | 1,152,424 | ||||||
3.70%, 12/06/2026 | 2,851,000 | 3,290,414 | ||||||
Cott Holdings, Inc. | ||||||||
5.50%, 04/01/2025 (A) | 4,510,000 | 4,684,763 | ||||||
Pernod Ricard SA | ||||||||
4.45%, 01/15/2022 (A) | 6,778,000 | 7,148,692 | ||||||
5.75%, 04/07/2021 (A) | 385,000 | 398,851 | ||||||
|
| |||||||
| 28,578,174 | ||||||||
|
| |||||||
| Biotechnology - 0.5% | ||||||||
AbbVie, Inc. | ||||||||
3.20%, 05/14/2026 | 1,302,000 | 1,453,316 | ||||||
3.25%, 10/01/2022 (A) | 1,361,000 | 1,426,542 | ||||||
4.05%, 11/21/2039 (A) | 1,324,000 | 1,629,100 | ||||||
Amgen, Inc. | ||||||||
2.20%, 02/21/2027 | 2,344,000 | 2,501,723 | ||||||
Biogen, Inc. | ||||||||
2.25%, 05/01/2030 | 1,496,000 | 1,561,743 | ||||||
|
| |||||||
| 8,572,424 | ||||||||
|
| |||||||
| Building Products - 0.5% | ||||||||
Associated Materials LLC / AMH New Finance, Inc. | ||||||||
9.00%, 01/01/2024 (A) | 2,215,000 | 1,890,813 | ||||||
Builders FirstSource, Inc. | ||||||||
5.00%, 03/01/2030 (A) | 859,000 | 900,919 | ||||||
Carrier Global Corp. | ||||||||
2.72%, 02/15/2030 (A) | 2,713,000 | 2,867,143 | ||||||
Owens Corning | ||||||||
7.00%, 12/01/2036 | 1,380,000 | 1,867,118 | ||||||
|
| |||||||
| 7,525,993 | ||||||||
|
| |||||||
| Capital Markets - 2.5% | ||||||||
Bank of New York Mellon Corp. | ||||||||
Fixed until 09/20/2025 (D), | 3,823,000 | 4,139,468 | ||||||
Charles Schwab Corp. | ||||||||
Fixed until 12/01/2027 (D), | 3,340,000 | 3,439,482 | ||||||
Credit Suisse Group AG | ||||||||
Fixed until 08/21/2026 (D), | 4,297,000 | 4,525,300 | ||||||
Deutsche Bank AG | ||||||||
Fixed until 10/30/2025 (D), | 2,000,000 | 1,740,600 | ||||||
Goldman Sachs Group, Inc. | ||||||||
3.85%, 01/26/2027 | 4,173,000 | 4,749,644 | ||||||
5.25%, 07/27/2021 | 3,202,000 | 3,354,200 | ||||||
Lazard Group LLC | ||||||||
4.50%, 09/19/2028 | 2,336,000 | 2,713,403 | ||||||
Morgan Stanley | ||||||||
Fixed until 01/22/2030, | 4,172,000 | 4,548,693 | ||||||
3.13%, 01/23/2023, MTN | 755,000 | 802,467 | ||||||
4.00%, 07/23/2025, MTN | 5,828,000 | 6,718,712 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Capital Markets (continued) | ||||||||
UBS AG | ||||||||
7.63%, 08/17/2022 | $ 2,433,000 | $ 2,724,667 | ||||||
UBS Group AG | ||||||||
Fixed until 08/10/2021 (D), | 1,055,000 | 1,087,969 | ||||||
|
| |||||||
| 40,544,605 | ||||||||
|
| |||||||
| Chemicals - 0.6% | ||||||||
Mosaic Co. | ||||||||
4.05%, 11/15/2027 (C) | 800,000 | 865,238 | ||||||
NOVA Chemicals Corp. | ||||||||
4.88%, 06/01/2024 (A) | 2,800,000 | 2,798,600 | ||||||
Nutrien, Ltd. | ||||||||
4.20%, 04/01/2029 (C) | 2,514,000 | 3,004,082 | ||||||
Syngenta Finance NV | ||||||||
3.93%, 04/23/2021 (A) | 3,855,000 | 3,893,658 | ||||||
|
| |||||||
| 10,561,578 | ||||||||
|
| |||||||
| Commercial Services & Supplies - 0.5% | ||||||||
Ashtead Capital, Inc. | ||||||||
4.25%, 11/01/2029 (A) | 1,358,000 | 1,434,564 | ||||||
5.25%, 08/01/2026 (A) | 2,001,000 | 2,121,060 | ||||||
Stericycle, Inc. | ||||||||
5.38%, 07/15/2024 (A) | 3,987,000 | 4,196,318 | ||||||
|
| |||||||
| 7,751,942 | ||||||||
|
| |||||||
| Communications Equipment - 0.5% | ||||||||
CommScope, Inc. | ||||||||
5.50%, 03/01/2024 (A) | 6,632,000 | 6,887,465 | ||||||
Nokia OYJ | ||||||||
3.38%, 06/12/2022 | 2,050,000 | 2,116,625 | ||||||
|
| |||||||
| 9,004,090 | ||||||||
|
| |||||||
| Construction & Engineering - 1.0% | ||||||||
Ashton Woods USA LLC / Ashton Woods Finance Co. | ||||||||
6.75%, 08/01/2025 (A) | 990,000 | 1,004,850 | ||||||
9.88%, 04/01/2027 (A) | 2,000,000 | 2,160,000 | ||||||
IHS Holdco BV | ||||||||
7.13%, 03/18/2025 (A) | 1,565,000 | 1,584,876 | ||||||
8.00%, 09/18/2027 (A) | 1,975,000 | 2,009,562 | ||||||
SBA Tower Trust | ||||||||
1.88%, 07/15/2050 (A) | 970,000 | 976,142 | ||||||
2.84%, 01/15/2050 (A) | 6,883,000 | 7,183,197 | ||||||
3.17%, 04/09/2047 (A) | 880,000 | 894,522 | ||||||
3.45%, 03/15/2048 (A) | 995,000 | 1,043,067 | ||||||
|
| |||||||
| 16,856,216 | ||||||||
|
| |||||||
| Construction Materials - 0.8% | ||||||||
CRH America Finance, Inc. | ||||||||
3.40%, 05/09/2027 (A) | 2,580,000 | 2,801,252 | ||||||
LafargeHolcim Finance LLC | ||||||||
3.50%, 09/22/2026 (A) | 4,266,000 | 4,591,700 | ||||||
Martin Marietta Materials, Inc. | ||||||||
2.50%, 03/15/2030 | 2,612,000 | 2,745,768 | ||||||
3.50%, 12/15/2027 | 2,300,000 | 2,566,524 | ||||||
|
| |||||||
| 12,705,244 | ||||||||
|
| |||||||
| Consumer Finance - 1.1% | ||||||||
Ally Financial, Inc. | ||||||||
3.88%, 05/21/2024 | 2,830,000 | 3,023,610 | ||||||
7.50%, 09/15/2020 | 1,477,000 | 1,487,751 | ||||||
Altice Financing SA | ||||||||
7.50%, 05/15/2026 (A) | 2,750,000 | 2,956,937 | ||||||
The notes are an integral part of this report. Transamerica Funds | Page 4 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Consumer Finance (continued) | ||||||||
BMW US Capital LLC | ||||||||
2.80%, 04/11/2026 (A) | $ 4,540,000 | $ 4,915,089 | ||||||
Navient Corp. | ||||||||
5.00%, 10/26/2020 | 2,050,000 | 2,065,601 | ||||||
6.50%, 06/15/2022 | 1,445,000 | 1,510,025 | ||||||
OneMain Finance Corp. | ||||||||
7.13%, 03/15/2026 | 2,000,000 | 2,344,660 | ||||||
|
| |||||||
| 18,303,673 | ||||||||
|
| |||||||
| Containers & Packaging - 0.7% | ||||||||
Mauser Packaging Solutions Holding Co. | ||||||||
5.50%, 04/15/2024 (A) | 5,810,000 | 5,923,760 | ||||||
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | ||||||||
5.13%, 07/15/2023 (A) | 3,005,000 | 3,050,976 | ||||||
WRKCo, Inc. | ||||||||
3.90%, 06/01/2028 | 2,405,000 | 2,771,574 | ||||||
|
| |||||||
| 11,746,310 | ||||||||
|
| |||||||
| Diversified Financial Services - 1.6% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust | ||||||||
4.50%, 09/15/2023 | 3,239,000 | 3,294,053 | ||||||
6.50%, 07/15/2025 | 911,000 | 977,594 | ||||||
Aviation Capital Group LLC | ||||||||
2.88%, 01/20/2022 (A) | 2,349,000 | 2,310,428 | ||||||
3.50%, 11/01/2027 (A) | 1,166,000 | 1,044,151 | ||||||
5.50%, 12/15/2024 (A) | 4,970,000 | 5,091,181 | ||||||
Element Fleet Management Corp. | ||||||||
3.85%, 06/15/2025 (A) | 3,784,000 | 3,983,053 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | ||||||||
4.25%, 02/01/2027 (A) | 5,711,000 | 4,825,795 | ||||||
Virgin Media Secured Finance PLC | ||||||||
5.50%, 05/15/2029 (A) | 3,940,000 | 4,294,600 | ||||||
|
| |||||||
| 25,820,855 | ||||||||
|
| |||||||
| Diversified Telecommunication Services - 1.7% | ||||||||
AT&T, Inc. | ||||||||
3.40%, 05/15/2025 (F) | 4,207,000 | 4,679,635 | ||||||
CenturyLink, Inc. | ||||||||
5.13%, 12/15/2026 (A) | 1,700,000 | 1,779,713 | ||||||
5.80%, 03/15/2022 | 3,035,000 | 3,179,163 | ||||||
6.45%, 06/15/2021 | 3,455,000 | 3,580,244 | ||||||
7.50%, 04/01/2024 (C) | 1,750,000 | 1,977,500 | ||||||
Hughes Satellite Systems Corp. | ||||||||
7.63%, 06/15/2021 | 4,855,000 | 5,097,750 | ||||||
Level 3 Financing, Inc. | ||||||||
3.40%, 03/01/2027 (A) | 3,328,000 | 3,585,854 | ||||||
Verizon Communications, Inc. | ||||||||
3.50%, 11/01/2024 | 870,000 | 969,737 | ||||||
4.13%, 03/16/2027 | 2,134,000 | 2,559,622 | ||||||
|
| |||||||
| 27,409,218 | ||||||||
|
| |||||||
| Electric Utilities - 1.2% | ||||||||
Cleveland Electric Illuminating Co. | ||||||||
3.50%, 04/01/2028 (A) | 4,009,000 | 4,321,766 | ||||||
EDP Finance BV | ||||||||
3.63%, 07/15/2024 (A) | 8,739,000 | 9,474,824 | ||||||
NRG Energy, Inc. | ||||||||
7.25%, 05/15/2026 | 1,616,000 | 1,742,872 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Electric Utilities (continued) | ||||||||
Pacific Gas & Electric Co. | ||||||||
2.50%, 02/01/2031 | $ 2,323,000 | $ 2,331,289 | ||||||
Vistra Operations Co. LLC | ||||||||
5.00%, 07/31/2027 (A) | 1,247,000 | 1,331,173 | ||||||
|
| |||||||
| 19,201,924 | ||||||||
|
| |||||||
| Electronic Equipment, Instruments & Components - 0.4% | ||||||||
Amphenol Corp. | ||||||||
2.80%, 02/15/2030 | 2,182,000 | 2,403,834 | ||||||
Arrow Electronics, Inc. | ||||||||
3.50%, 04/01/2022 | 1,657,000 | 1,706,625 | ||||||
Keysight Technologies, Inc. | ||||||||
4.60%, 04/06/2027 | 2,549,000 | 3,013,119 | ||||||
|
| |||||||
| 7,123,578 | ||||||||
|
| |||||||
| Energy Equipment & Services - 0.1% | ||||||||
Noble Holding International, Ltd. | ||||||||
6.05%, 03/01/2041 (G) | 1,736,000 | 43,400 | ||||||
Schlumberger Holdings Corp. | ||||||||
3.90%, 05/17/2028 (A) | 1,737,000 | 1,917,719 | ||||||
|
| |||||||
| 1,961,119 | ||||||||
|
| |||||||
| Equity Real Estate Investment Trusts - 2.2% | ||||||||
CBL & Associates, LP | ||||||||
5.25%, 12/01/2023 | 997,000 | 234,504 | ||||||
CyrusOne, LP / CyrusOne Finance Corp. | ||||||||
2.90%, 11/15/2024 | 2,058,000 | 2,215,416 | ||||||
EPR Properties | ||||||||
3.75%, 08/15/2029 | 2,420,000 | 2,153,922 | ||||||
Equinix, Inc. | ||||||||
5.38%, 05/15/2027 | 4,929,000 | 5,423,576 | ||||||
Healthcare Trust of America Holdings, LP | ||||||||
3.10%, 02/15/2030 | 1,525,000 | 1,608,102 | ||||||
Healthpeak Properties, Inc. | ||||||||
3.88%, 08/15/2024 | 2,877,000 | 3,191,470 | ||||||
Highwoods Realty, LP | ||||||||
3.05%, 02/15/2030 | 3,244,000 | 3,362,547 | ||||||
Iron Mountain, Inc. | ||||||||
5.25%, 03/15/2028 (A) | 3,750,000 | 3,937,500 | ||||||
iStar, Inc. | ||||||||
4.25%, 08/01/2025 | 2,171,000 | 2,086,874 | ||||||
5.25%, 09/15/2022 | 1,946,000 | 1,946,000 | ||||||
Life Storage, LP | ||||||||
4.00%, 06/15/2029 | 1,053,000 | 1,193,000 | ||||||
Prologis, LP | ||||||||
2.13%, 04/15/2027 | 1,065,000 | 1,141,909 | ||||||
Realty Income Corp. | ||||||||
3.25%, 01/15/2031 | 1,072,000 | 1,202,855 | ||||||
Service Properties Trust | ||||||||
4.65%, 03/15/2024 | 3,147,000 | 2,879,505 | ||||||
4.95%, 10/01/2029 | 1,321,000 | 1,129,455 | ||||||
Weyerhaeuser Co. | ||||||||
4.00%, 04/15/2030 | 2,433,000 | 2,830,280 | ||||||
|
| |||||||
| 36,536,915 | ||||||||
|
| |||||||
| Food & Staples Retailing - 0.5% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons, LP | ||||||||
4.63%, 01/15/2027 (A) | 4,110,000 | 4,346,325 | ||||||
Sysco Corp. | ||||||||
5.95%, 04/01/2030 | 2,966,000 | 3,762,866 | ||||||
|
| |||||||
| 8,109,191 | ||||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 5 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Food Products - 0.3% | ||||||||
Campbell Soup Co. | ||||||||
2.38%, 04/24/2030 | $ 2,285,000 | $ 2,420,382 | ||||||
Post Holdings, Inc. | ||||||||
4.63%, 04/15/2030 (A) | 680,000 | 715,700 | ||||||
5.63%, 01/15/2028 (A) | 2,000,000 | 2,185,600 | ||||||
|
| |||||||
| 5,321,682 | ||||||||
|
| |||||||
| Health Care Equipment & Supplies - 0.7% | ||||||||
Abbott Laboratories | ||||||||
1.40%, 06/30/2030 | 1,182,000 | 1,214,554 | ||||||
Alcon Finance Corp. | ||||||||
2.75%, 09/23/2026 (A) | 2,053,000 | 2,250,786 | ||||||
Becton Dickinson & Co. | ||||||||
3-Month LIBOR + 0.88%, | 655,000 | 655,131 | ||||||
Boston Scientific Corp. | ||||||||
4.70%, 03/01/2049 | 1,604,000 | 2,264,198 | ||||||
DENTSPLY SIRONA, Inc. | ||||||||
3.25%, 06/01/2030 | 2,387,000 | 2,611,641 | ||||||
Stryker Corp. | ||||||||
1.95%, 06/15/2030 (C) | 2,312,000 | 2,403,135 | ||||||
|
| |||||||
| 11,399,445 | ||||||||
|
| |||||||
| Health Care Providers & Services - 1.7% | ||||||||
Anthem, Inc. | ||||||||
2.25%, 05/15/2030 | 2,121,000 | 2,245,560 | ||||||
Centene Corp. | ||||||||
3.38%, 02/15/2030 | 4,806,000 | 5,088,352 | ||||||
4.25%, 12/15/2027 | 1,047,000 | 1,112,438 | ||||||
CHS / Community Health Systems, Inc. | ||||||||
8.00%, 03/15/2026 (A) | 725,000 | 742,596 | ||||||
8.13%, 06/30/2024 (A) | 116,000 | 73,517 | ||||||
Cigna Corp. | ||||||||
2.40%, 03/15/2030 | 2,085,000 | 2,224,257 | ||||||
CVS Health Corp. | ||||||||
4.78%, 03/25/2038 | 3,079,000 | 3,955,810 | ||||||
HCA, Inc. | ||||||||
4.13%, 06/15/2029 | 2,885,000 | 3,376,759 | ||||||
5.25%, 04/15/2025 | 2,342,000 | 2,728,062 | ||||||
Quest Diagnostics, Inc. | ||||||||
4.20%, 06/30/2029 | 2,067,000 | 2,509,995 | ||||||
Tenet Healthcare Corp. | ||||||||
5.13%, 11/01/2027 (A) | 2,400,000 | 2,547,000 | ||||||
UnitedHealth Group, Inc. | ||||||||
2.00%, 05/15/2030 | 1,965,000 | 2,094,598 | ||||||
|
| |||||||
| 28,698,944 | ||||||||
|
| |||||||
| Hotels, Restaurants & Leisure - 1.5% | ||||||||
Boyd Gaming Corp. | ||||||||
4.75%, 12/01/2027 (A) | 2,549,000 | 2,450,226 | ||||||
Carnival Corp. | ||||||||
11.50%, 04/01/2023 (A) | 748,000 | 813,450 | ||||||
GLP Capital, LP / GLP Financing II, Inc. | ||||||||
4.00%, 01/15/2030 | 2,357,000 | 2,428,181 | ||||||
International Game Technology PLC | ||||||||
6.50%, 02/15/2025 (A) | 2,792,000 | 3,008,380 | ||||||
Marriott International, Inc. | ||||||||
5.75%, 05/01/2025 | 2,772,000 | 3,079,210 | ||||||
MGM Resorts International | ||||||||
5.75%, 06/15/2025 (C) | 3,379,000 | 3,488,817 | ||||||
NCL Corp., Ltd. | ||||||||
3.63%, 12/15/2024 (A) | 3,416,000 | 2,254,560 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Hotels, Restaurants & Leisure (continued) | ||||||||
Scientific Games International, Inc. | ||||||||
7.00%, 05/15/2028 (A) | $ 699,000 | $ 643,080 | ||||||
7.25%, 11/15/2029 (A) | 796,000 | 728,340 | ||||||
8.25%, 03/15/2026 (A) | 3,200,000 | 3,205,088 | ||||||
Viking Cruises, Ltd. | ||||||||
5.88%, 09/15/2027 (A) | 4,525,000 | 2,975,188 | ||||||
|
| |||||||
| 25,074,520 | ||||||||
|
| |||||||
| Household Durables - 0.3% | ||||||||
Century Communities, Inc. | ||||||||
6.75%, 06/01/2027 | 1,319,000 | 1,408,613 | ||||||
D.R. Horton, Inc. | ||||||||
4.38%, 09/15/2022 | 2,438,000 | 2,599,587 | ||||||
KB Home | ||||||||
7.63%, 05/15/2023 | 795,000 | 874,500 | ||||||
|
| |||||||
| 4,882,700 | ||||||||
|
| |||||||
| Independent Power & Renewable Electricity Producers - 0.1% | ||||||||
Calpine Corp. | ||||||||
5.25%, 06/01/2026 (A) | 1,250,000 | 1,300,000 | ||||||
|
| |||||||
| Industrial Conglomerates - 0.3% | ||||||||
Carlisle Cos., Inc. | ||||||||
3.75%, 12/01/2027 | 2,784,000 | 3,144,435 | ||||||
General Electric Co. | ||||||||
Fixed until 01/21/2021 (D), 5.00% (B) | 1,442,000 | 1,142,785 | ||||||
|
| |||||||
| 4,287,220 | ||||||||
|
| |||||||
| Insurance - 1.1% | ||||||||
American International Group, Inc. | ||||||||
4.20%, 04/01/2028 | 1,970,000 | 2,329,548 | ||||||
4.25%, 03/15/2029 | 1,572,000 | 1,867,597 | ||||||
Aon Corp. | ||||||||
3.75%, 05/02/2029 | 3,831,000 | 4,493,432 | ||||||
Five Corners Funding Trust II | ||||||||
2.85%, 05/15/2030 (A) | 1,623,000 | 1,756,842 | ||||||
Markel Corp. | ||||||||
5.00%, 05/20/2049 | 1,790,000 | 2,416,631 | ||||||
Progressive Corp. | ||||||||
3.20%, 03/26/2030 | 1,206,000 | 1,412,212 | ||||||
Reinsurance Group of America, Inc. | ||||||||
3.90%, 05/15/2029 | 3,871,000 | 4,373,876 | ||||||
|
| |||||||
| 18,650,138 | ||||||||
|
| |||||||
| Interactive Media & Services - 0.3% | ||||||||
Baidu, Inc. | ||||||||
4.38%, 05/14/2024 | 2,436,000 | 2,692,024 | ||||||
Tencent Holdings, Ltd. | ||||||||
3.28%, 04/11/2024 (A) | 1,686,000 | 1,799,360 | ||||||
|
| |||||||
| 4,491,384 | ||||||||
|
| |||||||
| Internet & Direct Marketing Retail - 0.1% | ||||||||
Expedia Group, Inc. | ||||||||
3.80%, 02/15/2028 | 1,761,000 | 1,743,857 | ||||||
|
| |||||||
| IT Services - 0.2% | ||||||||
Fidelity National Information Services, Inc. | ||||||||
3.75%, 05/21/2029 (C) | 760,000 | 910,487 | ||||||
Fiserv, Inc. | ||||||||
3.50%, 07/01/2029 | 1,443,000 | 1,669,980 | ||||||
Gartner, Inc. | ||||||||
4.50%, 07/01/2028 (A) | 413,000 | 433,650 | ||||||
|
| |||||||
| 3,014,117 | ||||||||
|
| |||||||
| Leisure Products - 0.1% | ||||||||
Mattel, Inc. | ||||||||
5.88%, 12/15/2027 (A) | 360,000 | 390,668 | ||||||
6.75%, 12/31/2025 (A) (C) | 1,500,000 | 1,606,605 | ||||||
|
| |||||||
| 1,997,273 | ||||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 6 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Machinery - 0.1% | ||||||||
Oshkosh Corp. | ||||||||
3.10%, 03/01/2030 | $ 622,000 | $ 650,455 | ||||||
Xylem, Inc. | ||||||||
1.95%, 01/30/2028 | 1,517,000 | 1,576,961 | ||||||
|
| |||||||
| 2,227,416 | ||||||||
|
| |||||||
| Marine - 0.2% | ||||||||
MV24 Capital BV | ||||||||
6.75%, 06/01/2034 (A) | 2,901,042 | 2,893,818 | ||||||
|
| |||||||
| Media - 1.7% | ||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital | ||||||||
5.13%, 07/01/2049 | 3,499,000 | 4,292,567 | ||||||
Clear Channel Worldwide Holdings, Inc. | ||||||||
9.25%, 02/15/2024 | 1,055,000 | 949,500 | ||||||
Comcast Corp. | ||||||||
4.15%, 10/15/2028 | 3,221,000 | 3,958,981 | ||||||
CSC Holdings LLC | ||||||||
6.63%, 10/15/2025 (A) | 2,000,000 | 2,090,000 | ||||||
6.75%, 11/15/2021 | 1,315,000 | 1,393,900 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | ||||||||
5.38%, 08/15/2026 (A) | 1,040,000 | 800,873 | ||||||
6.63%, 08/15/2027 (A) | 690,000 | 377,775 | ||||||
DISH DBS Corp. | ||||||||
5.00%, 03/15/2023 | 1,500,000 | 1,563,840 | ||||||
5.88%, 07/15/2022 | 7,490,000 | 7,883,225 | ||||||
6.75%, 06/01/2021 | 900,000 | 931,500 | ||||||
Univision Communications, Inc. | ||||||||
6.63%, 06/01/2027 (A) | 725,000 | 727,030 | ||||||
Ziggo BV | ||||||||
5.50%, 01/15/2027 (A) | 2,473,000 | 2,609,015 | ||||||
|
| |||||||
| 27,578,206 | ||||||||
|
| |||||||
| Metals & Mining - 0.1% | ||||||||
Teck Resources, Ltd. | ||||||||
6.25%, 07/15/2041 | 2,073,000 | 2,320,927 | ||||||
|
| |||||||
| Multi-Utilities - 0.4% | ||||||||
Black Hills Corp. | ||||||||
3.05%, 10/15/2029 | 1,445,000 | 1,591,777 | ||||||
3.15%, 01/15/2027 | 1,625,000 | 1,748,975 | ||||||
4.25%, 11/30/2023 | 2,549,000 | 2,789,311 | ||||||
|
| |||||||
| 6,130,063 | ||||||||
|
| |||||||
| Oil, Gas & Consumable Fuels - 3.2% | ||||||||
Cheniere Energy Partners, LP | ||||||||
4.50%, 10/01/2029 | 1,735,000 | 1,835,283 | ||||||
Chesapeake Energy Corp. | ||||||||
11.50%, 01/01/2025 (A) (G) | 1,665,000 | 154,013 | ||||||
Citgo Holding, Inc. | ||||||||
9.25%, 08/01/2024 (A) | 700,000 | 700,000 | ||||||
Energy Transfer Operating, LP | ||||||||
6.00%, 06/15/2048 | 4,199,000 | 4,409,633 | ||||||
EnLink Midstream Partners, LP | ||||||||
5.05%, 04/01/2045 | 1,095,000 | 591,300 | ||||||
EQM Midstream Partners, LP | ||||||||
6.50%, 07/15/2048 | 2,310,000 | 2,301,268 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Oil, Gas & Consumable Fuels (continued) | ||||||||
Exxon Mobil Corp. | ||||||||
3.04%, 03/01/2026 | $ 2,584,000 | $ 2,883,790 | ||||||
Lukoil International Finance BV | ||||||||
6.66%, 06/07/2022 (A) | 1,000,000 | 1,086,600 | ||||||
Marathon Petroleum Corp. | ||||||||
4.50%, 05/01/2023 | 3,182,000 | 3,448,078 | ||||||
Noble Energy, Inc. | ||||||||
3.25%, 10/15/2029 | 1,562,000 | 1,756,522 | ||||||
NuStar Logistics, LP | ||||||||
4.80%, 09/01/2020 | 1,250,000 | 1,243,750 | ||||||
5.63%, 04/28/2027 | 2,000,000 | 1,952,400 | ||||||
6.00%, 06/01/2026 | 350,000 | 358,750 | ||||||
Occidental Petroleum Corp. | ||||||||
4.30%, 08/15/2039 | 938,000 | 759,780 | ||||||
5.55%, 03/15/2026 | 5,870,000 | 5,890,545 | ||||||
ONEOK Partners, LP | ||||||||
4.90%, 03/15/2025 | 1,134,000 | 1,235,420 | ||||||
Petroleos Mexicanos | ||||||||
6.50%, 01/23/2029 | 4,757,000 | 4,394,992 | ||||||
6.84%, 01/23/2030 (A) | 3,538,000 | 3,290,340 | ||||||
7.69%, 01/23/2050 (A) | 1,593,000 | 1,400,725 | ||||||
Plains All American Pipeline, LP / PAA Finance Corp. | ||||||||
3.55%, 12/15/2029 | 1,710,000 | 1,689,158 | ||||||
Sabine Pass Liquefaction LLC | ||||||||
6.25%, 03/15/2022 | 4,532,000 | 4,845,285 | ||||||
Targa Resources Partners, LP / Targa Resources Partners Finance Corp. | ||||||||
5.13%, 02/01/2025 | 4,000,000 | 4,060,000 | ||||||
YPF SA | ||||||||
8.50%, 07/28/2025 (A) | 2,242,000 | 1,816,042 | ||||||
|
| |||||||
| 52,103,674 | ||||||||
|
| |||||||
| Paper & Forest Products - 0.1% | ||||||||
Celulosa Arauco y Constitucion SA | ||||||||
5.50%, 04/30/2049 (A) (C) | 1,560,000 | 1,669,216 | ||||||
|
| |||||||
| Pharmaceuticals - 1.3% | ||||||||
AstraZeneca PLC | ||||||||
2.38%, 06/12/2022 | 2,650,000 | 2,739,343 | ||||||
4.00%, 01/17/2029 | 3,089,000 | 3,775,558 | ||||||
Bausch Health Cos., Inc. | ||||||||
5.25%, 01/30/2030 (A) | 3,400,000 | 3,472,250 | ||||||
5.88%, 05/15/2023 (A) | 149,000 | 149,000 | ||||||
6.13%, 04/15/2025 (A) | 2,000,000 | 2,065,000 | ||||||
7.00%, 01/15/2028 (A) | 617,000 | 670,988 | ||||||
Bayer US Finance II LLC | ||||||||
4.38%, 12/15/2028 (A) | 2,041,000 | 2,413,209 | ||||||
Bristol-Myers Squibb Co. | ||||||||
3.20%, 06/15/2026 | 807,000 | 916,561 | ||||||
Merck & Co., Inc. | ||||||||
3.40%, 03/07/2029 | 1,505,000 | 1,778,503 | ||||||
Takeda Pharmaceutical Co., Ltd. | ||||||||
5.00%, 11/26/2028 | 1,170,000 | 1,469,489 | ||||||
Upjohn, Inc. | ||||||||
2.30%, 06/22/2027 (A) | 1,187,000 | 1,247,393 | ||||||
Zoetis, Inc. | ||||||||
2.00%, 05/15/2030 | 1,486,000 | 1,572,517 | ||||||
|
| |||||||
| 22,269,811 | ||||||||
|
| |||||||
| Professional Services - 0.1% | ||||||||
Equifax, Inc. | ||||||||
2.60%, 12/01/2024 | 1,680,000 | 1,793,745 | ||||||
|
| |||||||
| Road & Rail - 0.4% | ||||||||
Avolon Holdings Funding, Ltd. | ||||||||
4.38%, 05/01/2026 (A) | 3,369,000 | 2,980,590 | ||||||
The notes are an integral part of this report. Transamerica Funds | Page 7 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Road & Rail (continued) | ||||||||
CSX Corp. | ||||||||
3.80%, 04/15/2050 | $ 1,687,000 | $ 2,145,389 | ||||||
Hertz Corp. | ||||||||
5.50%, 10/15/2024 (A) (G) | 3,599,000 | 1,421,605 | ||||||
|
| |||||||
| 6,547,584 | ||||||||
|
| |||||||
| Semiconductors & Semiconductor Equipment - 1.3% | ||||||||
KLA Corp. | ||||||||
4.10%, 03/15/2029 | 2,500,000 | 3,021,257 | ||||||
Lam Research Corp. | ||||||||
1.90%, 06/15/2030 | 2,527,000 | 2,677,771 | ||||||
3.75%, 03/15/2026 | 1,283,000 | 1,484,289 | ||||||
Micron Technology, Inc. | ||||||||
4.64%, 02/06/2024 | 2,335,000 | 2,594,149 | ||||||
NVIDIA Corp. | ||||||||
2.85%, 04/01/2030 | 2,123,000 | 2,377,559 | ||||||
NXP BV / NXP Funding LLC / NXP USA, Inc. | ||||||||
3.40%, 05/01/2030 (A) | 1,035,000 | 1,142,157 | ||||||
QUALCOMM, Inc. | ||||||||
3.25%, 05/20/2027 - 05/20/2050 | 3,675,000 | 4,288,959 | ||||||
Sensata Technologies, Inc., Co. | ||||||||
4.38%, 02/15/2030 (A) | 1,498,000 | 1,600,898 | ||||||
Xilinx, Inc. | ||||||||
2.38%, 06/01/2030 | 2,274,000 | 2,464,310 | ||||||
|
| |||||||
| 21,651,349 | ||||||||
|
| |||||||
| Software - 0.4% | ||||||||
Adobe, Inc. | ||||||||
2.15%, 02/01/2027 | 2,095,000 | 2,279,007 | ||||||
Infor, Inc. | ||||||||
1.75%, 07/15/2025 (A) | 2,364,000 | 2,436,812 | ||||||
Intuit, Inc. | ||||||||
1.35%, 07/15/2027 | 1,657,000 | 1,697,856 | ||||||
|
| |||||||
| 6,413,675 | ||||||||
|
| |||||||
| Technology Hardware, Storage & Peripherals - 1.1% | ||||||||
Apple, Inc. | ||||||||
2.85%, 02/23/2023 | 3,488,000 | 3,697,871 | ||||||
Dell International LLC / EMC Corp. | ||||||||
6.02%, 06/15/2026 (A) | 3,601,000 | 4,222,441 | ||||||
Hewlett Packard Enterprise Co. | ||||||||
4.45%, 10/02/2023 | 1,938,000 | 2,127,241 | ||||||
NCR Corp. | ||||||||
8.13%, 04/15/2025 (A) (C) | 277,000 | 307,387 | ||||||
Seagate HDD Cayman | ||||||||
4.13%, 01/15/2031 (A) | 402,000 | 431,548 | ||||||
Western Digital Corp. | ||||||||
4.75%, 02/15/2026 (C) | 6,235,000 | 6,773,517 | ||||||
|
| |||||||
| 17,560,005 | ||||||||
|
| |||||||
| Tobacco - 0.6% | ||||||||
Altria Group, Inc. | ||||||||
3.40%, 05/06/2030 | 2,629,000 | 2,938,367 | ||||||
BAT Capital Corp. | ||||||||
3.22%, 08/15/2024 | 1,554,000 | 1,679,243 | ||||||
4.76%, 09/06/2049 | 2,100,000 | 2,478,624 | ||||||
4.91%, 04/02/2030 | 1,473,000 | 1,776,941 | ||||||
Reynolds American, Inc. | ||||||||
7.25%, 06/15/2037 | 340,000 | 475,406 | ||||||
|
| |||||||
| 9,348,581 | ||||||||
|
| |||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Trading Companies & Distributors - 0.3% | ||||||||
Air Lease Corp. | ||||||||
2.25%, 01/15/2023 | $ 3,419,000 | $ 3,379,664 | ||||||
2.30%, 02/01/2025, MTN | 868,000 | 835,694 | ||||||
|
| |||||||
| 4,215,358 | ||||||||
|
| |||||||
| Transportation Infrastructure - 0.2% | ||||||||
Penske Truck Leasing Co., LP / PTL Finance Corp. | ||||||||
4.00%, 07/15/2025 (A) | 3,122,000 | 3,497,211 | ||||||
|
| |||||||
| Wireless Telecommunication Services - 1.0% | ||||||||
Crown Castle Towers LLC | ||||||||
3.22%, 05/15/2042 (A) | 3,545,000 | 3,603,612 | ||||||
3.72%, 07/15/2043 (A) | 371,000 | 387,638 | ||||||
Sprint Corp. | ||||||||
7.25%, 09/15/2021 | 2,450,000 | 2,587,812 | ||||||
7.88%, 09/15/2023 | 7,245,000 | 8,404,200 | ||||||
T-Mobile USA, Inc. | ||||||||
3.88%, 04/15/2030 (A) | 1,439,000 | 1,648,015 | ||||||
|
| |||||||
| 16,631,277 | ||||||||
|
| |||||||
Total Corporate Debt Securities |
| 780,330,569 | ||||||
|
| |||||||
| FOREIGN GOVERNMENT OBLIGATIONS - 0.9% | ||||||||
| Colombia - 0.1% | ||||||||
Colombia Government International Bond | ||||||||
4.50%, 01/28/2026 | 1,300,000 | 1,444,625 | ||||||
|
| |||||||
| Costa Rica - 0.2% | ||||||||
Costa Rica Government International Bond | ||||||||
7.00%, 04/04/2044 (A) | 4,350,000 | 3,867,150 | ||||||
|
| |||||||
| Dominican Republic - 0.1% | ||||||||
Dominican Republic International Bond | ||||||||
5.50%, 01/27/2025 (E) | 1,122,000 | 1,165,197 | ||||||
|
| |||||||
| Ecuador - 0.1% | ||||||||
Ecuador Government International Bond | ||||||||
7.88%, 03/27/2025 (A) (F) | 1,920,000 | 993,600 | ||||||
|
| |||||||
| Indonesia - 0.2% | ||||||||
Indonesia Government International Bond | ||||||||
4.75%, 01/08/2026 (A) | 2,780,000 | 3,213,291 | ||||||
|
| |||||||
| Mongolia - 0.0% (H) | ||||||||
Mongolia Government International Bond | ||||||||
5.63%, 05/01/2023 (A) | 470,000 | 477,056 | ||||||
|
| |||||||
| Qatar - 0.2% | ||||||||
Qatar Government International Bond | ||||||||
3.88%, 04/23/2023 (A) | 2,657,000 | 2,867,774 | ||||||
|
| |||||||
| Saudi Arabia - 0.0% (H) | ||||||||
Saudi Government International Bond | ||||||||
2.38%, 10/26/2021 (A) | 560,000 | 569,867 | ||||||
|
| |||||||
Total Foreign Government Obligations |
| 14,598,560 | ||||||
|
| |||||||
| LOAN ASSIGNMENTS - 0.8% | ||||||||
| Commercial Services & Supplies - 0.4% | ||||||||
Spin Holdco, Inc. | ||||||||
Term Loan B, | ||||||||
3-Month LIBOR + 3.25%, | 7,628,746 | 7,393,071 | ||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 8 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| LOAN ASSIGNMENTS (continued) | ||||||||
| Diversified Consumer Services - 0.2% | ||||||||
Pre-Paid Legal Services, Inc. | ||||||||
1st Lien Term Loan, | ||||||||
1-Month LIBOR + 3.25%, | $ 2,846,435 | $ 2,739,693 | ||||||
|
| |||||||
| Media - 0.2% | ||||||||
AVSC Holding Corp. | ||||||||
1st Lien Term Loan, | ||||||||
1-Month LIBOR + 3.25%, | 2,006,447 | 1,421,233 | ||||||
Term Loan B, | ||||||||
3-Month LIBOR + 4.50%, | 2,985,000 | 2,104,425 | ||||||
|
| |||||||
| 3,525,658 | ||||||||
|
| |||||||
Total Loan Assignments | 13,658,422 | |||||||
|
| |||||||
| MORTGAGE-BACKED SECURITIES - 14.9% | ||||||||
20 Times Square Trust | ||||||||
Series 2018-20TS, Class C, | ||||||||
3.10% (B), 05/15/2035 (A) | 2,400,000 | 2,301,917 | ||||||
280 Park Avenue Mortgage Trust | ||||||||
Series 2017-280P, Class D, | ||||||||
1-Month LIBOR + 1.54%, | 3,000,000 | 2,902,142 | ||||||
AFN LLC | ||||||||
Series 2019-1A, Class A1, | ||||||||
3.78%, 05/20/2049 (A) | 7,116,000 | 7,090,653 | ||||||
Alternative Loan Trust | ||||||||
Series 2005-14, Class 2A1, | ||||||||
1-Month LIBOR + 0.21%, | 693,039 | 626,287 | ||||||
Series 2005-14, Class 4A1, | ||||||||
1-Month LIBOR + 0.22%, | 1,392,056 | 1,233,142 | ||||||
Series 2006-OC1, Class 2A3A, | ||||||||
1-Month LIBOR + 0.32%, | 1,410,689 | 1,225,772 | ||||||
American Home Mortgage Assets Trust | ||||||||
Series 2007-2, Class A1, | ||||||||
1-Month LIBOR + 0.13%, | 480,593 | 440,103 | ||||||
Arroyo Mortgage Trust | ||||||||
Series 2018-1, Class A1, | ||||||||
3.76% (B), 04/25/2048 (A) | 1,003,246 | 1,030,613 | ||||||
Ashford Hospitality Trust | ||||||||
Series 2018-ASHF, Class D, | ||||||||
1-Month LIBOR + 2.10%, | 3,988,000 | 3,591,056 | ||||||
Austin Fairmont Hotel Trust | ||||||||
Series 2019-FAIR, Class D, | ||||||||
1-Month LIBOR + 1.80%, | 5,000,000 | 4,523,424 | ||||||
BAMLL Commercial Mortgage Securities Trust | ||||||||
Series 2019-BPR, Class BNM, | ||||||||
3.47%, 11/05/2032 (A) | 5,000,000 | 4,311,394 | ||||||
Series 2019-BPR, Class CNM, | ||||||||
3.72% (B), 11/05/2032 (A) | 3,970,000 | 2,977,665 | ||||||
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
Banc of America Funding Trust | ||||||||
Series 2007-3, Class TA2, | ||||||||
1-Month LIBOR + 0.18%, | $ 291,264 | $ 245,754 | ||||||
BB-UBS Trust | ||||||||
Series 2012-TFT, Class C, | ||||||||
3.47% (B), 06/05/2030 (A) | 2,345,000 | 1,659,991 | ||||||
BBCMS Mortgage Trust | ||||||||
Series 2017-DELC, Class C, | ||||||||
1-Month LIBOR + 1.20%, | 2,339,000 | 2,189,785 | ||||||
Series 2017-DELC, Class D, | ||||||||
1-Month LIBOR + 1.70%, | 2,130,000 | 1,945,199 | ||||||
Series 2017-DELC, Class E, | ||||||||
1-Month LIBOR + 2.50%, | 1,890,000 | 1,708,720 | ||||||
Series 2018-TALL, Class C, | ||||||||
1-Month LIBOR + 1.12%, | 7,065,000 | 6,623,452 | ||||||
Series 2018-TALL, Class E, | ||||||||
1-Month LIBOR + 2.44%, | 2,570,000 | 2,372,470 | ||||||
BHMS Trust | ||||||||
Series 2018-ATLS, Class C, | ||||||||
1-Month LIBOR + 1.90%, | 4,065,000 | 3,689,429 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2019-XL, Class D, | ||||||||
1-Month LIBOR + 1.45%, | 6,108,731 | 6,070,828 | ||||||
BX Trust | ||||||||
Series 2018-GW, Class C, | ||||||||
1-Month LIBOR + 1.22%, | 1,900,000 | 1,766,616 | ||||||
BXP Trust | ||||||||
Series 2017-CQHP, Class D, | ||||||||
1-Month LIBOR + 2.00%, | 1,825,000 | 1,554,837 | ||||||
CGMS Commercial Mortgage Trust | ||||||||
Series 2017-MDRB, Class B, | ||||||||
1-Month LIBOR + 1.75%, | 2,200,000 | 2,081,817 | ||||||
CHL Mortgage Pass-Through Trust | ||||||||
Series 2005-11, Class 4A1, | ||||||||
1-Month LIBOR + 0.27%, | 165,277 | 159,571 | ||||||
Series 2006-3, Class 3A1, | ||||||||
1-Month LIBOR + 0.25%, | 274,216 | 264,399 | ||||||
CHT Mortgage Trust | ||||||||
Series 2017-CSMO, Class C, | ||||||||
1-Month LIBOR + 1.50%, | 9,000,000 | 8,559,714 | ||||||
Series 2017-CSMO, Class D, | ||||||||
1-Month LIBOR + 2.25%, | 5,750,000 | 5,447,083 | ||||||
The notes are an integral part of this report. Transamerica Funds | Page 9 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
Citigroup Commercial Mortgage Trust | ||||||||
Series 2019-PRM, Class C, | ||||||||
3.90%, 05/10/2036 (A) | $ 2,380,000 | $ 2,442,872 | ||||||
Citigroup Mortgage Loan Trust | ||||||||
Series 2015-PS1, Class A1, | ||||||||
3.75% (B), 09/25/2042 (A) | 1,011,675 | 1,041,013 | ||||||
Citigroup Mortgage Loan Trust, Inc. | ||||||||
Series 2014-A, Class A, | ||||||||
4.00% (B), 01/25/2035 (A) | 80,256 | 84,341 | ||||||
Series 2015-A, Class A1, | ||||||||
3.50% (B), 06/25/2058 (A) | 97,231 | 99,971 | ||||||
Colony Trust | ||||||||
Series 2019-IKPR, Class C, | ||||||||
1-Month LIBOR + 1.68%, | 5,700,000 | 5,014,282 | ||||||
Commercial Mortgage Pass-Through Certificates Trust | ||||||||
Series 2012-LTRT, Class A2, | ||||||||
3.40%, 10/05/2030 (A) | 2,225,000 | 2,161,725 | ||||||
Series 2012-LTRT, Class B, | ||||||||
3.80%, 10/05/2030 (A) | 1,175,000 | 1,122,723 | ||||||
CORE Mortgage Trust | ||||||||
Series 2019-CORE, Class C, | ||||||||
1-Month LIBOR + 1.30%, | 7,369,000 | 7,184,690 | ||||||
CSMC Trust | ||||||||
Series 2014-11R, Class 17A1, | ||||||||
1-Month LIBOR + 0.15%, | 621,669 | 605,159 | ||||||
Fontainebleau Miami Beach Trust | ||||||||
Series 2019-FBLU, Class D, | ||||||||
3.96% (B), 12/10/2036 (A) | 7,902,000 | 7,322,201 | ||||||
GS Mortgage Securities Trust | ||||||||
Series 2013-G1, Class A2, | ||||||||
3.56% (B), 04/10/2031 (A) | 2,000,000 | 1,973,440 | ||||||
Series 2017-SLP, Class B, | ||||||||
3.77%, 10/10/2032 (A) | 5,242,000 | 5,271,620 | ||||||
Series 2019-SOHO, Class C, | ||||||||
1-Month LIBOR + 1.30%, | 8,200,000 | 7,789,740 | ||||||
Series 2020-UPTN, Class C, | ||||||||
3.25%, 02/10/2037 (A) | 6,318,000 | 6,190,959 | ||||||
GSCG Trust | ||||||||
Series 2019-600C, Class B, | ||||||||
3.16%, 09/06/2034 (A) | 1,660,000 | 1,659,398 | ||||||
Series 2019-600C, Class C, | ||||||||
3.46%, 09/06/2034 (A) | 4,480,000 | 4,323,498 | ||||||
GSR Mortgage Loan Trust | ||||||||
Series 2007-OA1, Class 2A1, | ||||||||
1-Month LIBOR + 0.13%, | 204,442 | 121,075 | ||||||
HPLY Trust | ||||||||
Series 2019-HIT, Class C, | ||||||||
1-Month LIBOR + 1.60%, | 2,934,143 | 2,713,366 | ||||||
ILPT Trust | ||||||||
Series 2019-SURF, Class C, | ||||||||
4.29% (B), 02/11/2041 (A) | 1,930,000 | 1,995,704 | ||||||
IndyMac INDX Mortgage Loan Trust | ||||||||
Series 2007-AR15, Class 2A1, | ||||||||
3.31% (B), 08/25/2037 | 777,489 | 630,458 | ||||||
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
InTown Hotel Portfolio Trust | ||||||||
Series 2018-STAY, Class C, | ||||||||
1-Month LIBOR + 1.25%, | $ 3,835,000 | $ 3,698,247 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust | ||||||||
Series 2014-DSTY, Class C, | ||||||||
3.80% (B), 06/10/2027 (A) | 2,000,000 | 250,000 | ||||||
Series 2020-NNN, Class CFX, | ||||||||
3.27%, 01/16/2037 (A) | 2,675,000 | 2,637,151 | ||||||
Series 2020-NNN, Class DFL, | ||||||||
1-Month LIBOR + 1.55%, | 3,000,000 | 2,820,697 | ||||||
MBRT | ||||||||
Series 2019-MBR, Class D, | ||||||||
1-Month LIBOR + 1.70%, | 3,033,000 | 2,759,062 | ||||||
Merrill Lynch Mortgage Investors Trust | ||||||||
Series 2006-A1, Class 1A1, | ||||||||
3.96% (B), 03/25/2036 | 1,203,483 | 930,458 | ||||||
MetLife Securitization Trust | ||||||||
Series 2019-1A, Class A1A, | ||||||||
3.75% (B), 04/25/2058 (A) | 1,398,918 | 1,478,556 | ||||||
Mill City Mortgage Loan Trust | ||||||||
Series 2019-1, Class A1, | ||||||||
3.25% (B), 10/25/2069 (A) | 8,487,905 | 8,969,995 | ||||||
Morgan Stanley Capital I Trust | ||||||||
Series 2018-SUN, Class C, | ||||||||
1-Month LIBOR + 1.40%, | 2,015,000 | 1,918,824 | ||||||
Morgan Stanley Resecuritization Trust | ||||||||
Series 2014-R4, Class 4A, | ||||||||
3.87% (B), 11/21/2035 (A) | 584,982 | 580,574 | ||||||
MSCG Trust | ||||||||
Series 2018-SELF, Class C, | ||||||||
1-Month LIBOR + 1.18%, | 1,375,000 | 1,319,960 | ||||||
Series 2018-SELF, Class D, | ||||||||
1-Month LIBOR + 1.65%, | 5,710,000 | 5,452,875 | ||||||
New Residential Mortgage Loan Trust | ||||||||
Series 2016-2A, Class A1, | ||||||||
3.75% (B), 11/26/2035 (A) | 702,136 | 751,312 | ||||||
Series 2017-1A, Class A1, | ||||||||
4.00% (B), 02/25/2057 (A) | 2,037,290 | 2,198,784 | ||||||
Series 2017-2A, Class A3, | ||||||||
4.00% (B), 03/25/2057 (A) | 1,559,231 | 1,680,750 | ||||||
Series 2017-3A, Class A1, | ||||||||
4.00% (B), 04/25/2057 (A) | 1,093,389 | 1,174,722 | ||||||
Series 2018-2A, Class A1, | ||||||||
4.50% (B), 02/25/2058 (A) | 798,528 | 861,489 | ||||||
Series 2018-RPL1, Class A1, | ||||||||
3.50% (B), 12/25/2057 (A) | 4,311,458 | 4,606,129 | ||||||
Series 2019-2A, Class A1, | ||||||||
4.25% (B), 12/25/2057 (A) | 3,023,879 | 3,293,824 | ||||||
Series 2019-3A, Class A1A, | ||||||||
3.75% (B), 11/25/2058 (A) | 7,766,094 | 8,342,669 | ||||||
Series 2019-4A, Class A1B, | ||||||||
3.50% (B), 12/25/2058 (A) | 5,377,224 | 5,694,632 | ||||||
Series 2019-5A, Class A1B, | ||||||||
3.50% (B), 08/25/2059 (A) | 8,809,524 | 9,227,613 | ||||||
Series 2019-6A, Class A1B, | ||||||||
3.50% (B), 09/25/2059 (A) | 6,949,039 | 7,296,151 | ||||||
Series 2019-RPL2, Class A1, | ||||||||
3.25% (B), 02/25/2059 (A) | 4,903,244 | 5,107,984 | ||||||
The notes are an integral part of this report. Transamerica Funds | Page 10 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
RALI Trust | ||||||||
Series 2006-QO1, Class 3A1, | ||||||||
1-Month LIBOR + 0.27%, | $ 3,435,430 | $ 2,214,423 | ||||||
Series 2006-QO2, Class A1, | ||||||||
1-Month LIBOR + 0.22%, | 95,213 | 26,875 | ||||||
Series 2007-QH5, Class AI1, | ||||||||
1-Month LIBOR + 0.21%, | 221,133 | 216,208 | ||||||
Residential Asset Securitization Trust | ||||||||
Series 2004-A4, Class A11, | ||||||||
5.50%, 08/25/2034 | 1,868,103 | 1,957,826 | ||||||
Tharaldson Hotel Portfolio Trust | ||||||||
Series 2018-THL, Class C, | ||||||||
1-Month LIBOR + 1.35%, | 1,405,489 | 1,271,160 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2019-4, Class A1, | ||||||||
2.90% (B), 10/25/2059 (A) | 11,620,789 | 12,304,838 | ||||||
VNDO Mortgage Trust | ||||||||
Series 2012-6AVE, Class E, | ||||||||
3.34% (B), 11/15/2030 (A) | 4,000,000 | 3,848,466 | ||||||
Series 2013-PENN, Class D, | ||||||||
3.95% (B), 12/13/2029 (A) | 1,900,000 | 1,871,558 | ||||||
|
| |||||||
Total Mortgage-Backed Securities | 245,105,880 | |||||||
|
| |||||||
| MUNICIPAL GOVERNMENT OBLIGATION - 0.2% | ||||||||
| California - 0.2% | ||||||||
State of California, General Obligation Unlimited, | ||||||||
7.30%, 10/01/2039 | 1,400,000 | 2,383,248 | ||||||
|
| |||||||
Total Municipal Government Obligation | 2,383,248 | |||||||
|
| |||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS - 4.6% | ||||||||
Federal Home Loan Mortgage Corp., Interest Only STRIPS | ||||||||
5.00%, 08/01/2035 | 738,983 | 151,162 | ||||||
Uniform Mortgage-Backed Security | ||||||||
2.50%, TBA (I) | 19,311,000 | 20,288,619 | ||||||
3.00%, TBA (I) | 26,743,000 | 28,290,124 | ||||||
3.50%, TBA (I) | 26,276,000 | 27,708,863 | ||||||
|
| |||||||
Total U.S. Government Agency Obligations | 76,438,768 | |||||||
|
| |||||||
| U.S. GOVERNMENT OBLIGATIONS - 17.4% | ||||||||
| U.S. Treasury - 16.7% | ||||||||
U.S. Treasury Bond | ||||||||
1.25%, 05/15/2050 | 8,769,000 | 8,884,436 | ||||||
2.00%, 02/15/2050 (C) | 10,116,000 | 12,153,821 | ||||||
2.25%, 08/15/2046 - 08/15/2049 | 25,000,900 | 31,138,606 | ||||||
2.50%, 05/15/2046 | 9,450,000 | 12,246,609 | ||||||
2.75%, 08/15/2042 - 08/15/2047 (C) | 18,260,000 | 24,600,032 | ||||||
2.75%, 11/15/2047 | 12,316,000 | 16,843,092 | ||||||
2.88%, 05/15/2049 | 13,944,200 | 19,725,051 | ||||||
3.00%, 08/15/2048 - 02/15/2049 | 11,481,000 | 16,512,175 | ||||||
3.13%, 05/15/2048 | 8,143,000 | 11,916,453 | ||||||
3.50%, 02/15/2039 | 6,104,000 | 8,861,291 | ||||||
4.50%, 02/15/2036 (C) | 10,697,000 | 16,676,874 | ||||||
6.25%, 05/15/2030 (C) | 11,598,000 | 17,972,370 | ||||||
| Principal | Value | |||||||
| U.S. GOVERNMENT OBLIGATIONS (continued) | ||||||||
| U.S. Treasury (continued) | ||||||||
U.S. Treasury Note | ||||||||
0.13%, 05/31/2022 | $ 9,896,000 | $ 9,897,160 | ||||||
0.25%, 05/31/2025 (C) | 11,524,000 | 11,549,659 | ||||||
0.50%, 03/31/2025 (C) | 3,086,000 | 3,128,794 | ||||||
0.63%, 05/15/2030 (C) | 23,700,000 | 23,896,266 | ||||||
1.50%, 02/15/2030 | 11,131,000 | 12,148,008 | ||||||
1.63%, 08/15/2029 (C) | 3,452,000 | 3,796,526 | ||||||
1.75%, 07/31/2021 (C) | 6,183,000 | 6,282,025 | ||||||
2.88%, 10/31/2023 | 6,528,000 | 7,106,850 | ||||||
|
| |||||||
| 275,336,098 | ||||||||
|
| |||||||
| U.S. Treasury Inflation-Protected Securities - 0.7% | ||||||||
U.S. Treasury Inflation-Indexed Bond | ||||||||
2.50%, 01/15/2029 | 8,324,888 | 10,894,501 | ||||||
|
| |||||||
Total U.S. Government Obligations |
| 286,230,599 | ||||||
|
| |||||||
| Shares | Value | |||||||
| PREFERRED STOCK - 0.1% | ||||||||
| Banks - 0.1% | ||||||||
GMAC Capital Trust I, | ||||||||
Series 2, 3-Month LIBOR + 5.79%, | 74,000 | 1,781,180 | ||||||
|
| |||||||
Total Preferred Stock |
| 1,781,180 | ||||||
|
| |||||||
| Principal | Value | |||||||
| COMMERCIAL PAPER - 3.7% | ||||||||
| Banks - 0.8% | ||||||||
DNB Bank ASA | ||||||||
0.22% (J), 10/07/2020 | $ 3,000,000 | 2,998,772 | ||||||
Manhattan Asset Funding Co. LLC | ||||||||
0.23% (J), 10/13/2020 | 1,937,000 | 1,936,097 | ||||||
0.25% (J), 09/01/2020 | 3,000,000 | 2,999,354 | ||||||
Sumitomo Mitsui Brokerage Corp. | ||||||||
0.21% (J), 10/29/2020 | 5,163,000 | 5,160,319 | ||||||
|
| |||||||
| 13,094,542 | ||||||||
|
| |||||||
| Capital Markets - 0.8% | ||||||||
Cedar Springs Capital Co. LLC | ||||||||
0.30% (J), 08/20/2020 | 12,920,000 | 12,917,954 | ||||||
|
| |||||||
| Commercial Services & Supplies - 0.0% (H) | ||||||||
Charta LLC | ||||||||
0.22% (J), 10/19/2020 | 500,000 | 499,759 | ||||||
|
| |||||||
| Diversified Financial Services - 2.1% | ||||||||
Crown Point Capital Co. | ||||||||
0.32% (J), 08/20/2020 | 14,000,000 | 13,997,636 | ||||||
Jupiter Securitization Co. LLC | ||||||||
0.30% (J), 08/04/2020 | 9,700,000 | 9,699,758 | ||||||
Lexington Parker Capital Co. LLC | ||||||||
0.26% (J), 10/26/2020 | 500,000 | 499,689 | ||||||
Mont Blanc Capital Corp. | ||||||||
0.29% (J), 08/13/2020 | 9,400,000 | 9,399,091 | ||||||
Starbird Funding Corp. | ||||||||
0.23% (J), 09/02/2020 | 1,050,000 | 1,049,785 | ||||||
|
| |||||||
| 34,645,959 | ||||||||
|
| |||||||
Total Commercial Paper |
| 61,158,214 | ||||||
|
| |||||||
The notes are an integral part of this report. Transamerica Funds | Page 11 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
| Principal | Value | |||||||
| SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.9% | ||||||||
U.S. Treasury Bill | ||||||||
0.11% (J), 10/01/2020 | $ 4,401,000 | $ 4,400,213 | ||||||
0.14% (J), 10/01/2020 | 5,068,000 | 5,066,841 | ||||||
0.15% (J), 12/31/2020 | 3,700,000 | 3,697,664 | ||||||
0.17% (J), 09/10/2020 | 2,240,000 | 2,239,586 | ||||||
|
| |||||||
Total Short-Term U.S. Government Obligations |
| 15,404,304 | ||||||
|
| |||||||
| Shares | Value | |||||||
| OTHER INVESTMENT COMPANY - 2.7% | ||||||||
| Securities Lending Collateral - 2.7% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 0.12% (J) | 44,291,215 | 44,291,215 | ||||||
|
| |||||||
Total Other Investment Company |
| 44,291,215 | ||||||
|
| |||||||
| Principal | Value | |||||||
| REPURCHASE AGREEMENT - 1.2% | ||||||||
Fixed Income Clearing Corp., 0.00% (J), dated 07/31/2020, to be repurchased at $19,969,542 on 08/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 03/31/2024, and with a value of $20,369,012. | $ 19,969,542 | $ 19,969,542 | ||||||
|
| |||||||
Total Repurchase Agreement |
| 19,969,542 | ||||||
|
| |||||||
Total Investments |
| 1,776,102,738 | ||||||
Net Other Assets (Liabilities) - (7.8)% |
| (128,226,055 | ) | |||||
|
| |||||||
Net Assets - 100.0% | $ 1,647,876,683 | |||||||
|
| |||||||
FUTURES CONTRACTS:
Long Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation | Unrealized Depreciation | ||||||||||||
U.S. Treasury Ultra Bond | 1 | 09/21/2020 | $ 217,355 | $ 227,688 | $ 10,333 | $ — | ||||||||||||
The notes are an integral part of this report. Transamerica Funds | Page 12 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (K)
| Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS | ||||||||||||||||
Investments |
| |||||||||||||||
Asset-Backed Securities | $ | — | $ | 214,752,237 | $ | — | $ | 214,752,237 | ||||||||
Corporate Debt Securities | — | 780,330,569 | — | 780,330,569 | ||||||||||||
Foreign Government Obligations | — | 14,598,560 | — | 14,598,560 | ||||||||||||
Loan Assignments | — | 13,658,422 | — | 13,658,422 | ||||||||||||
Mortgage-Backed Securities | — | 245,105,880 | — | 245,105,880 | ||||||||||||
Municipal Government Obligation | — | 2,383,248 | — | 2,383,248 | ||||||||||||
U.S. Government Agency Obligations | — | 76,438,768 | — | 76,438,768 | ||||||||||||
U.S. Government Obligations | — | 286,230,599 | — | 286,230,599 | ||||||||||||
Preferred Stock | 1,781,180 | — | — | 1,781,180 | ||||||||||||
Commercial Paper | — | 61,158,214 | — | 61,158,214 | ||||||||||||
Short-Term U.S. Government Obligations | — | 15,404,304 | — | 15,404,304 | ||||||||||||
Other Investment Company | 44,291,215 | — | — | 44,291,215 | ||||||||||||
Repurchase Agreement | — | 19,969,542 | — | 19,969,542 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 46,072,395 | $ | 1,730,030,343 | $ | — | $ | 1,776,102,738 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts (L) | $ | 10,333 | $ | — | $ | — | $ | 10,333 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | 10,333 | $ | — | $ | — | $ | 10,333 | ||||||||
|
|
|
|
|
|
|
| |||||||||
FOOTNOTES TO SCHEDULE OF INVESTMENTS:
| (A) | Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2020, the total value of 144A securities is $744,692,718, representing 45.2% of the Fund’s net assets. | |
| (B) | Floating or variable rate securities. The rates disclosed are as of July 31, 2020. 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. | |
| (C) | All or a portion of the securities are on loan. The total value of all securities on loan is $109,510,573, collateralized by cash collateral of $44,291,215 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $67,460,118. 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. | |
| (D) | Perpetual maturity. The date displayed is the next call date. | |
| (E) | Securities are exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At July 31, 2020, the total value of Regulation S securities is $3,869,966, representing 0.2% of the Fund’s net assets. | |
| (F) | Restricted securities. At July 31, 2020, the value of such securities held by the Fund are as follows: |
Investments | Description | Acquisition Date | Acquisition Cost | Value | Value as Percentage of Net Assets | |||||||||||||
Corporate Debt Securities | AT&T, Inc. | 04/23/2015 - 08/21/2019 | $ | 4,172,663 | $ | 4,679,635 | 0.3 | % | ||||||||||
Foreign Government Obligations | Ecuador Government International Bond | 09/24/2019 | 1,920,000 | 993,600 | 0.1 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total | $ | 6,092,663 | $ | 5,673,235 | 0.4 | % | ||||||||||||
|
|
|
|
|
| |||||||||||||
The notes are an integral part of this report. Transamerica Funds | Page 13 |
Transamerica Bond
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):
| (G) | Securities in default; partial receipt of interest payments and/or dividends declared at last payment date. At July 31, 2020, the total value of such securities is $1,619,018, representing 0.1% of the Fund’s net assets. | |
| (H) | Percentage rounds to less than 0.1% or (0.1)%. | |
| (I) | When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after July 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement. | |
| (J) | Rates disclosed reflect the yields at July 31, 2020. | |
| (K) | There were no transfers in or out of Level 3 during the period ended July 31, 2020. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs. | |
| (L) | Derivative instruments are valued at unrealized appreciation (depreciation). |
PORTFOLIO ABBREVIATIONS:
LIBOR | London Interbank Offered Rate | |
MTN | Medium Term Note | |
STRIPS | Separate Trading of Registered Interest and Principal of Securities | |
TBA | To Be Announced |
The notes are an integral part of this report. Transamerica Funds | Page 14 |
Transamerica Bond
NOTES TO SCHEDULE OF INVESTMENTS
At July 31, 2020
(unaudited)
INVESTMENT VALUATION
All investments in securities are recorded at their estimated fair value. The Fund values its investments at the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.
The Fund 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 the Fund’s own assumptions used in determining the fair value of 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 July 31, 2020, 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:
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.
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.
Loan assignments: Loan assignments are normally valued using an income approach, which projects future cash flows and converts those future cash flows to a present value using a discount rate. The resulting present value reflects the likely fair value of the loan. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise are categorized in Level 3.
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.
The notes are an integral part of this report. Transamerica Funds | Page 15 |
Transamerica Bond
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At July 31, 2020
(unaudited)
Municipal government obligations: The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. 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.
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.
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 NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.
Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.
Restricted securities: Restricted securities for which quotations are not readily available are valued at fair value. Restricted securities issued by publicly traded companies are generally valued at a discount to similar publicly traded securities. Restricted securities issued by nonpublic entities may be valued by reference to comparable public entities and/or fundamental data relating to the issuer. Depending on the relative significance of observable valuation inputs, these instruments may be classified in either Level 2 or Level 3 of the fair value hierarchy.
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.
The notes are an integral part of this report. Transamerica Funds | Page 16 |