Transamerica Bond (IDITX) NPORT-P Transamerica Balanced II (Jan 2021 report)

Transamerica Balanced II

SCHEDULE OF INVESTMENTS

At January 31, 2021

(unaudited)

	Shares		Value
COMMON STOCKS - 60.1%
Aerospace & Defense - 0.6%
General Dynamics Corp.		808		$  118,517
Northrop Grumman Corp.		872		249,924
Raytheon Technologies Corp.		5,456		364,079
			732,520
Air Freight & Logistics - 0.3%
FedEx Corp.		1,611		379,133
Airlines - 0.2%
Delta Air Lines, Inc.		2,319		88,029
Southwest Airlines Co.		3,007		132,128
				220,157
Auto Components - 0.1%
Magna International, Inc.		2,204		154,831
Automobiles - 1.2%
General Motors Co.		4,261		215,948
Tesla, Inc. (A)		1,708		1,355,349
				1,571,297
Banks - 1.9%
Bank of America Corp.		13,235		392,418
Citigroup, Inc.		8,008		464,384
KeyCorp		18,122		305,537
Regions Financial Corp.		13,983		237,851
Truist Financial Corp.		5,344		256,405
US Bancorp		6,457		276,682
Wells Fargo & Co.		18,233		544,802
				2,478,079
Beverages - 0.7%
Coca-Cola Co.		12,062		580,785
Constellation Brands, Inc., Class A		1,317		277,795
				858,580
Biotechnology - 1.5%
AbbVie, Inc.		8,002		820,045
Alexion Pharmaceuticals, Inc. (A)		2,226		341,313
Amgen, Inc.		252		60,840
Biogen, Inc. (A)		662		187,088
Regeneron Pharmaceuticals, Inc. (A)		445		224,209
Vertex Pharmaceuticals, Inc. (A)		1,314		301,011
				1,934,506
Building Products - 0.6%
Masco Corp.		4,670		253,628
Trane Technologies PLC		3,414		489,397
				743,025
Capital Markets - 2.0%
Goldman Sachs Group, Inc.		1,566		424,652
Intercontinental Exchange, Inc.		3,348		369,452
MarketAxess Holdings, Inc.		186		100,581
Morgan Stanley		9,257		620,682
MSCI, Inc.		113		44,669
S&P Global, Inc.		1,933		612,761
State Street Corp.		3,764		263,480
T. Rowe Price Group, Inc.		496		77,614
				2,513,891

	Shares		Value
COMMON STOCKS (continued)
Chemicals - 1.1%
Air Products & Chemicals, Inc.		530		$   141,383
Celanese Corp.		852		104,072
DuPont de Nemours, Inc.		1,780		141,421
Eastman Chemical Co.		3,608		354,847
Linde PLC		922		226,259
LyondellBasell Industries NV, Class A		1,223		104,884
PPG Industries, Inc.		2,473		333,138
				1,406,004
Commercial Services & Supplies - 0.1%
Cintas Corp.		257		81,757
Communications Equipment - 0.2%
Cisco Systems, Inc.		5,387		240,152
Motorola Solutions, Inc.		238		39,877
				280,029
Consumer Finance - 0.3%
Capital One Financial Corp.		3,363		350,626
Containers & Packaging - 0.3%
Avery Dennison Corp.		211		31,833
Crown Holdings, Inc. (A)		1,372		123,686
Packaging Corp. of America		478		64,272
WestRock Co.		3,347		138,666
				358,457
Diversified Financial Services - 1.0%
Berkshire Hathaway, Inc., Class B (A)		5,301		1,207,939
Voya Financial, Inc.		901		49,969
				1,257,908
Diversified Telecommunication Services - 0.4%
Verizon Communications, Inc.		10,099		552,920
Electric Utilities - 0.9%
Exelon Corp.		2,631		109,345
NextEra Energy, Inc.		9,884		799,319
Xcel Energy, Inc.		2,768		177,124
				1,085,788
Electrical Equipment - 0.3%
Eaton Corp. PLC		3,770		443,729
Entertainment - 1.0%
Netflix, Inc. (A)		1,658		882,703
Walt Disney Co. (A)		2,050		344,748
				1,227,451
Equity Real Estate Investment Trusts - 1.1%
Camden Property Trust		1,732		176,924
Equinix, Inc.		484		358,141
Equity Lifestyle Properties, Inc.		1,006		61,205
Mid-America Apartment Communities, Inc.		1,075		142,706
Prologis, Inc.		3,627		374,306
Public Storage		233		53,035
Realty Income Corp.		516		30,475
Sun Communities, Inc.		330		47,233
UDR, Inc.		715		27,492
Ventas, Inc.		1,899		87,487
				1,359,004

Transamerica Funds Page    1

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Food & Staples Retailing - 0.3%
Costco Wholesale Corp.		763		$   268,904
Kroger Co.		2,952		101,844
				370,748
Food Products - 0.4%
Mondelez International, Inc., Class A		8,405		465,973
Health Care Equipment & Supplies - 1.9%
Abbott Laboratories		1,789		221,103
ABIOMED, Inc. (A)		110		38,307
Baxter International, Inc.		4,048		311,008
Becton Dickinson & Co.		700		183,253
Boston Scientific Corp. (A)		8,568		303,650
DexCom, Inc. (A)		228		85,466
Edwards Lifesciences Corp. (A)		891		73,579
Intuitive Surgical, Inc. (A)		164		122,613
Medtronic PLC		6,146		684,234
Zimmer Biomet Holdings, Inc.		2,824		433,964
				2,457,177
Health Care Providers & Services - 1.6%
Anthem, Inc.		633		187,988
Centene Corp. (A)		787		47,456
Cigna Corp.		2,090		453,635
McKesson Corp.		2,096		365,689
UnitedHealth Group, Inc.		2,890		964,046
				2,018,814
Hotels, Restaurants & Leisure - 0.4%
Hilton Worldwide Holdings, Inc.		1,851		187,673
Royal Caribbean Cruises, Ltd.		463		30,095
Yum! Brands, Inc.		2,469		250,579
				468,347
Household Durables - 0.3%
D.R. Horton, Inc.		340		26,112
Lennar Corp., Class A		4,012		333,598
				359,710
Household Products - 1.0%
Kimberly-Clark Corp.		2,548		336,591
Procter & Gamble Co.		7,365		944,266
				1,280,857
Industrial Conglomerates - 0.5%
Honeywell International, Inc.		3,513		686,335
Insurance - 1.1%
Allstate Corp.		2,240		240,083
American International Group, Inc.		2,117		79,261
Chubb, Ltd.		1,732		252,300
Hartford Financial Services Group, Inc.		4,332		208,023
Marsh & McLennan Cos., Inc.		855		93,973
Progressive Corp.		4,814		419,733
Prudential Financial, Inc.		937		73,348
				1,366,721
Interactive Media & Services - 3.6%
Alphabet, Inc., Class A (A)		929		1,697,617
Alphabet, Inc., Class C (A)		744		1,365,791
Facebook, Inc., Class A (A)		5,794		1,496,764
				4,560,172

	Shares		Value
COMMON STOCKS (continued)
Internet & Direct Marketing Retail - 3.2%
Amazon.com, Inc. (A)		1,169		$   3,748,048
Booking Holdings, Inc. (A)		167		324,703
				4,072,751
IT Services - 3.5%
Accenture PLC, Class A		3,428		829,302
Booz Allen Hamilton Holding Corp.		1,348		114,809
FleetCor Technologies, Inc. (A)		210		50,978
International Business Machines Corp.		2,139		254,776
Leidos Holdings, Inc.		2,840		301,210
Mastercard, Inc., Class A		3,633		1,149,082
PayPal Holdings, Inc. (A)		3,830		897,407
Visa, Inc., Class A		4,145		801,021
				4,398,585
Life Sciences Tools & Services - 1.0%
Illumina, Inc. (A)		558		237,953
Thermo Fisher Scientific, Inc.		1,881		958,746
Waters Corp. (A)		168		44,465
				1,241,164
Machinery - 1.3%
Cummins, Inc.		736		172,533
Deere & Co.		2,016		582,221
Parker-Hannifin Corp.		1,385		366,485
Snap-on, Inc.		704		126,713
Stanley Black & Decker, Inc.		2,226		386,188
				1,634,140
Media - 1.1%
Altice USA, Inc., Class A (A)		2,550		90,704
Charter Communications, Inc., Class A (A)		889		540,121
Comcast Corp., Class A		14,999		743,500
				1,374,325
Metals & Mining - 0.1%
Newmont Corp.		1,931		115,088
Multi-Utilities - 0.8%
Ameren Corp.		3,116		226,596
CMS Energy Corp.		2,724		154,941
DTE Energy Co.		1,435		170,363
Public Service Enterprise Group, Inc.		3,208		181,027
Sempra Energy		2,192		271,282
				1,004,209
Multiline Retail - 0.3%
Dollar Tree, Inc. (A)		1,704		173,228
Target Corp.		1,204		218,129
				391,357
Oil, Gas & Consumable Fuels - 1.5%
Cabot Oil & Gas Corp.		1,160		21,263
Cheniere Energy, Inc. (A)		1,481		93,792
Chevron Corp.		5,874		500,465
ConocoPhillips		3,103		124,213
Diamondback Energy, Inc.		2,093		118,652
EOG Resources, Inc.		4,663		237,626
Kinder Morgan, Inc.		5,332		75,075
Phillips 66		2,650		179,670
Pioneer Natural Resources Co.		2,518		304,426
Williams Cos., Inc.		9,804		208,139
				1,863,321

Transamerica Funds Page    2

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Personal Products - 0.2%
Estee Lauder Cos., Inc., Class A		968		$   229,077
Pharmaceuticals - 2.2%
Bristol-Myers Squibb Co.		11,817		725,918
Eli Lilly & Co.		3,745		778,848
Johnson & Johnson		3,897		635,718
Merck & Co., Inc.		7,397		570,087
Pfizer, Inc.		2,115		75,928
				2,786,499
Professional Services - 0.1%
Verisk Analytics, Inc.		394		72,299
Road & Rail - 0.8%
CSX Corp.		1,367		117,227
Lyft, Inc., Class A (A)		2,046		90,965
Norfolk Southern Corp.		2,542		601,488
Union Pacific Corp.		1,255		247,825
				1,057,505
Semiconductors & Semiconductor Equipment - 3.7%
Advanced Micro Devices, Inc. (A)		4,661		399,168
Analog Devices, Inc.		3,726		548,952
Applied Materials, Inc.		6,480		626,486
Intel Corp.		3,715		206,220
Lam Research Corp.		975		471,851
Microchip Technology, Inc.		1,455		198,040
Micron Technology, Inc. (A)		1,729		135,329
NVIDIA Corp.		1,243		645,850
NXP Semiconductors NV		2,424		388,979
Qorvo, Inc. (A)		774		132,261
QUALCOMM, Inc.		872		136,276
Texas Instruments, Inc.		4,579		758,695
				4,648,107
Software - 5.1%
Fortinet, Inc. (A)		348		50,373
Intuit, Inc.		1,556		562,074
Microsoft Corp.		21,813		5,059,744
salesforce.com, Inc. (A)		2,940		663,146
Workday, Inc., Class A (A)		742		168,827
				6,504,164
Specialty Retail - 2.1%
AutoZone, Inc. (A)		319		356,760
Best Buy Co., Inc.		3,612		393,058
Home Depot, Inc.		2,638		714,423
Lowe’s Cos., Inc.		4,555		760,002
O’Reilly Automotive, Inc. (A)		387		164,657
TJX Cos., Inc.		5,199		332,944
				2,721,844
Technology Hardware, Storage & Peripherals - 4.5%
Apple, Inc.		40,896		5,396,636
Seagate Technology PLC		4,774		315,657
				5,712,293
Textiles, Apparel & Luxury Goods - 0.5%
Carter’s, Inc.		1,821		160,321
NIKE, Inc., Class B		3,940		526,344
				686,665

	Shares		Value
COMMON STOCKS (continued)
Tobacco - 0.7%
Altria Group, Inc.		9,816		$   403,241
Philip Morris International, Inc.		6,410		510,557
				913,798
Wireless Telecommunication Services - 0.5%
T-Mobile US, Inc. (A)		4,649		586,146
Total Common Stocks (Cost $51,966,770)				76,037,883
PREFERRED STOCK - 0.0% (B)
Electric Utilities - 0.0% (B)
SCE Trust III,
Series H, Fixed until 03/15/2024, 5.75% (C)		320		7,782
Total Preferred Stock (Cost $8,784)				7,782
	Principal		Value
ASSET-BACKED SECURITIES - 2.9%
BlueMountain CLO, Ltd.
Series 2015-2A, Class A1R,
3-Month LIBOR + 0.93%, 1.15% (C), 07/18/2027 (D)		$  203,603		203,648
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029 (D)		32,631		33,479
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (D)		30,456		30,479
CIFC Funding, Ltd.
Series 2013-2A, Class A1LR,
3-Month LIBOR + 1.21%, 1.44% (C), 10/18/2030 (D)		250,000		250,248
JGWPT XXVI LLC
Series 2012-2A, Class A,
3.84%, 10/15/2059 (D)		136,480		153,549
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067 (D)		138,593		150,135
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043 (D)		48,390		49,655
MVW Owner Trust
Series 2014-1A, Class A,
2.25%, 09/22/2031 (D)		17,174		17,247
Series 2016-1A, Class A,
2.25%, 12/20/2033 (D)		19,381		19,625
New Residential Advance Receivables Trust
Series 2020-T1, Class AT1,
1.43%, 08/15/2053 (D)		200,000		201,083
NRZ Advance Receivables Trust
Series 2020-T2, Class AT2,
1.48%, 09/15/2053 (D)		455,000		457,343
Octagon Investment Partners 33, Ltd.
Series 2017-1A, Class A1,
3-Month LIBOR + 1.19%, 1.41% (C), 01/20/2031 (D)		200,000		200,009

Transamerica Funds Page    3

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Ocwen Master Advance Receivables Trust
Series 2020-T1, Class AT1,
1.28%, 08/15/2052 (D)		$   118,000		$   118,685
Orange Lake Timeshare Trust
Series 2016-A, Class A,
2.61%, 03/08/2029 (D)		70,467		71,569
Series 2019-A, Class A,
3.06%, 04/09/2038 (D)		111,193		116,299
Palmer Square CLO, Ltd.
Series 2015-2A, Class A1R2,
3-Month LIBOR + 1.10%, 1.32% (C), 07/20/2030 (D)		250,000		249,696
Sierra Timeshare Receivables Funding LLC
Series 2016-2A, Class A,
2.33%, 07/20/2033 (D)		11,461		11,485
SolarCity LMC LLC
Series 2014-2, Class A,
4.02%, 07/20/2044 (D)		109,271		111,372
Towd Point Mortgage Trust
Series 2015-3, Class A1B,
3.00% (C), 03/25/2054 (D)		10,465		10,482
Series 2015-5, Class A1B,
2.75% (C), 05/25/2055 (D)		20,815		20,886
Series 2016-1, Class A1B,
2.75% (C), 02/25/2055 (D)		23,697		23,889
Series 2016-2, Class A1A,
2.75% (C), 08/25/2055 (D)		34,059		34,425
Series 2017-1, Class A1,
2.75% (C), 10/25/2056 (D)		70,367		71,673
Series 2017-3, Class A1,
2.75% (C), 07/25/2057 (D)		40,405		41,280
Series 2017-6, Class A1,
2.75% (C), 10/25/2057 (D)		55,509		57,151
Series 2018-1, Class A1,
3.00% (C), 01/25/2058 (D)		95,172		98,275
Series 2018-3, Class A1,
3.75% (C), 05/25/2058 (D)		159,124		169,807
Series 2018-4, Class A1,
3.00% (C), 06/25/2058 (D)		219,017		232,494
Series 2020-4, Class A1,
1.75%, 10/25/2060 (D)		199,965		205,277
VB-S1 Issuer LLC
Series 2018-1A, Class C,
3.41%, 02/15/2048 (D)		145,000		149,782
VSE VOI Mortgage LLC
Series 2016-A, Class A,
2.54%, 07/20/2033 (D)		20,199		20,321
Welk Resorts LLC
Series 2017-AA, Class A,
2.82%, 06/15/2033 (D)		50,622		51,704
Total Asset-Backed Securities (Cost $3,565,010)				3,633,052
CORPORATE DEBT SECURITIES - 15.1%
Aerospace & Defense - 0.3%
BAE Systems PLC
3.40%, 04/15/2030 (D)		41,000		45,684
Boeing Co.
3.50%, 03/01/2039		91,000		89,895
5.15%, 05/01/2030		85,000		100,819

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Aerospace & Defense (continued)
Huntington Ingalls Industries, Inc.
3.84%, 05/01/2025		$   36,000		$   40,158
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		49,000		53,428
				329,984
Airlines - 0.2%
American Airlines Pass-Through Trust
3.20%, 12/15/2029		51,147		50,566
Delta Air Lines Pass-Through Trust
6.82%, 02/10/2024		106,656		109,895
JetBlue Pass-Through Trust
2.75%, 11/15/2033		83,818		83,138
United Airlines Pass-Through Trust
3.75%, 03/03/2028		63,193		64,921
				308,520
Auto Components - 0.0% (B)
BorgWarner, Inc.
3.38%, 03/15/2025 (E)		36,000		39,572
Automobiles - 0.1%
Ford Motor Co.
4.35%, 12/08/2026 (E)		63,000		67,359
General Motors Co.
4.88%, 10/02/2023		23,000		25,412
6.25%, 10/02/2043		15,000		20,250
				113,021
Banks - 2.5%
Australia & New Zealand Banking Group, Ltd.
Fixed until 11/25/2030, 2.57% (C), 11/25/2035 (D)		200,000		199,266
Banco Santander SA
2.75%, 12/03/2030		200,000		201,775
Bank of America Corp.
Fixed until 02/13/2030, 2.50% (C), 02/13/2031, MTN		248,000		258,264
Fixed until 06/19/2040, 2.68% (C), 06/19/2041, MTN		71,000		70,760
Fixed until 12/20/2027, 3.42% (C), 12/20/2028		63,000		70,563
Barclays PLC
5.20%, 05/12/2026		200,000		231,376
CIT Group, Inc.
4.13%, 03/09/2021		10,000		10,005
Citigroup, Inc.
Fixed until 10/27/2027, 3.52% (C), 10/27/2028		219,000		245,596
Commerzbank AG
8.13%, 09/19/2023 (D)		255,000		295,175
Credit Agricole SA
3.25%, 01/14/2030 (D)		250,000		269,705
Discover Bank
4.65%, 09/13/2028		250,000		295,625
Intesa Sanpaolo SpA
5.02%, 06/26/2024 (D)		65,000		70,762
JPMorgan Chase & Co.
Fixed until 02/04/2031, 1.95% (C), 02/04/2032		58,000		57,897
Fixed until 05/13/2030, 2.96% (C), 05/13/2031		166,000		177,397
Fixed until 04/22/2040, 3.11% (C), 04/22/2041		97,000		104,600

Transamerica Funds Page    4

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
JPMorgan Chase & Co. (continued)
4.13%, 12/15/2026		$   85,000		$   99,009
Macquarie Bank, Ltd.
3.62%, 06/03/2030 (D)		231,000		249,637
Wells Fargo & Co.
Fixed until 03/15/2026 (F), 3.90% (C)		35,000		35,000
4.10%, 06/03/2026, MTN		167,000		190,747
Fixed until 06/15/2024 (F), 5.90% (C)		40,000		42,215
				3,175,374
Beverages - 0.3%
Anheuser-Busch InBev Worldwide, Inc.
4.15%, 01/23/2025		78,000		88,157
4.44%, 10/06/2048		57,000		68,155
4.75%, 01/23/2029		78,000		94,488
Constellation Brands, Inc.
3.15%, 08/01/2029		40,000		43,938
3.70%, 12/06/2026		16,000		18,194
Keurig Dr. Pepper, Inc.
3.20%, 05/01/2030		56,000		62,059
				374,991
Biotechnology - 0.2%
AbbVie, Inc.
3.20%, 05/14/2026		47,000		51,748
4.05%, 11/21/2039		40,000		46,568
Amgen, Inc.
2.20%, 02/21/2027		65,000		68,743
Biogen, Inc.
2.25%, 05/01/2030		42,000		43,144
Gilead Sciences, Inc.
4.15%, 03/01/2047		24,000		28,599
				238,802
Building Products - 0.1%
Carrier Global Corp.
2.72%, 02/15/2030		74,000		78,204
Capital Markets - 0.5%
Deutsche Bank AG
Fixed until 09/18/2030, 3.55% (C), 09/18/2031		150,000		157,738
Goldman Sachs Group, Inc.
6.75%, 10/01/2037		85,000		125,638
Lazard Group LLC
4.50%, 09/19/2028		94,000		111,397
Morgan Stanley
Fixed until 01/22/2030, 2.70% (C), 01/22/2031, MTN		81,000		85,990
3.70%, 10/23/2024, MTN		127,000		140,952
5.00%, 11/24/2025		60,000		70,822
				692,537
Chemicals - 0.1%
Nutrition & Biosciences, Inc.
2.30%, 11/01/2030 (D)		74,000		75,373
Commercial Services & Supplies - 0.3%
Ashtead Capital, Inc.
4.25%, 11/01/2029 (D)		200,000		220,042
ERAC USA Finance LLC
3.85%, 11/15/2024 (D)		111,000		123,542
Waste Connections, Inc.
2.60%, 02/01/2030		57,000		60,524
				404,108

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Communications Equipment - 0.1%
Nokia OYJ
3.38%, 06/12/2022		$   92,000		$   94,990
Construction & Engineering - 0.5%
Quanta Services, Inc.
2.90%, 10/01/2030		56,000		59,782
SBA Tower Trust
1.88%, 07/15/2050 (D)		56,000		58,299
2.84%, 01/15/2050 (D)		300,000		321,403
3.17%, 04/09/2047 (D)		110,000		110,857
3.45%, 03/15/2048 (D)		78,000		82,863
				633,204
Construction Materials - 0.2%
LafargeHolcim Finance LLC
4.75%, 09/22/2046 (D)		200,000		238,567
Consumer Finance - 0.1%
Ally Financial, Inc.
3.88%, 05/21/2024		52,000		56,724
American Express Co.
4.05%, 12/03/2042		40,000		49,441
BMW US Capital LLC
2.80%, 04/11/2026 (D)		65,000		70,537
				176,702
Diversified Consumer Services - 0.0% (B)
President & Fellows of Harvard College
3.62%, 10/01/2037		13,000		15,983
Diversified Financial Services - 0.4%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
4.50%, 09/15/2023		186,000		201,349
Aviation Capital Group LLC
1.95%, 01/30/2026 (D)		49,000		48,623
5.50%, 12/15/2024 (D)		147,000		165,980
Element Fleet Management Corp.
3.85%, 06/15/2025 (D)		56,000		59,698
Kaupthing Bank
7.63%, 02/28/2020 (D) (G) (H) (I)		710,000		0
				475,650
Diversified Telecommunication Services - 0.4%
Hughes Satellite Systems Corp.
7.63%, 06/15/2021		74,000		75,597
Level 3 Financing, Inc.
3.40%, 03/01/2027 (D)		60,000		65,740
Sprint Capital Corp.
6.88%, 11/15/2028		24,000		30,874
Verizon Communications, Inc.
1.68%, 10/30/2030 (D)		221,000		215,077
2.99%, 10/30/2056 (D)		105,000		100,269
				487,557
Electric Utilities - 0.7%
Appalachian Power Co.
3.40%, 06/01/2025		86,000		94,176
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		34,000		42,221
DTE Electric Co.
4.30%, 07/01/2044		139,000		173,423
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		176,000		193,953

Transamerica Funds Page    5

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electric Utilities (continued)
Duke Energy Progress LLC
3.60%, 09/15/2047		$   64,000		$   73,483
Entergy Arkansas LLC
3.70%, 06/01/2024		48,000		52,640
Oncor Electric Delivery Co. LLC
4.10%, 06/01/2022		8,000		8,332
5.30%, 06/01/2042 (E)		20,000		28,221
Pacific Gas & Electric Co.
2.50%, 02/01/2031		69,000		68,559
PacifiCorp
3.60%, 04/01/2024		61,000		66,452
5.75%, 04/01/2037		20,000		27,635
Public Service Electric & Gas Co.
3.00%, 05/15/2025, MTN		49,000		53,429
				882,524
Electronic Equipment, Instruments & Components - 0.3%
Amphenol Corp.
2.80%, 02/15/2030		63,000		68,162
Arrow Electronics, Inc.
3.88%, 01/12/2028		83,000		93,319
Keysight Technologies, Inc.
4.60%, 04/06/2027		86,000		102,336
Sensata Technologies, Inc.
4.38%, 02/15/2030 (D) (E)		50,000		53,813
				317,630
Energy Equipment & Services - 0.1%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (D)		90,000		100,912
Schlumberger Investment SA
3.65%, 12/01/2023		26,000		28,112
				129,024
Equity Real Estate Investment Trusts - 0.9%
Agree, LP
2.90%, 10/01/2030		35,000		36,942
American Tower Trust #1
3.65%, 03/15/2048 (D)		120,000		130,420
Corporate Office Properties, LP
2.25%, 03/15/2026		35,000		36,332
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		61,000		65,007
Equinix, Inc.
5.38%, 05/15/2027		64,000		69,467
Federal Realty Investment Trust
1.25%, 02/15/2026		65,000		65,780
Healthcare Trust of America Holdings, LP
3.10%, 02/15/2030		53,000		57,263
Healthpeak Properties, Inc.
3.50%, 07/15/2029		46,000		51,794
Highwoods Realty, LP
3.05%, 02/15/2030		142,000		149,061
Life Storage, LP
4.00%, 06/15/2029		47,000		54,037
Mid-America Apartments, LP
1.70%, 02/15/2031		43,000		42,261
National Retail Properties, Inc.
2.50%, 04/15/2030		70,000		72,161
Realty Income Corp.
3.25%, 01/15/2031		31,000		34,476
Simon Property Group, LP
1.75%, 02/01/2028		67,000		67,273
VEREIT Operating Partnership, LP
2.20%, 06/15/2028		69,000		70,521

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
Weyerhaeuser Co.
4.00%, 04/15/2030		$   69,000		$   80,366
WP Carey, Inc.
2.40%, 02/01/2031		28,000		28,609
				1,111,770
Food & Staples Retailing - 0.3%
7-Eleven, Inc.
1.80%, 02/10/2031 (D) (J)		123,000		121,793
Sysco Corp.
3.30%, 07/15/2026		64,000		70,808
Walmart, Inc.
3.63%, 12/15/2047		107,000		128,319
				320,920
Food Products - 0.1%
Campbell Soup Co.
2.38%, 04/24/2030 (E)		90,000		93,335
Cargill, Inc.
1.70%, 02/02/2031 (D)		50,000		49,879
				143,214
Health Care Equipment & Supplies - 0.4%
Abbott Laboratories
1.40%, 06/30/2030		35,000		34,739
Alcon Finance Corp.
2.75%, 09/23/2026 (D)		200,000		218,480
Boston Scientific Corp.
4.70%, 03/01/2049		66,000		86,947
Danaher Corp.
2.60%, 10/01/2050		69,000		67,419
DENTSPLY SIRONA, Inc.
3.25%, 06/01/2030		69,000		75,743
Smith & Nephew PLC
2.03%, 10/14/2030		71,000		71,248
				554,576
Health Care Providers & Services - 0.6%
Anthem, Inc.
2.25%, 05/15/2030		61,000		62,879
Centene Corp.
3.00%, 10/15/2030		80,000		83,676
3.38%, 02/15/2030		60,000		62,850
Cigna Corp.
2.40%, 03/15/2030		61,000		63,594
CVS Health Corp.
2.70%, 08/21/2040		50,000		48,747
3.75%, 04/01/2030		86,000		98,417
HCA, Inc.
4.13%, 06/15/2029		28,000		32,243
5.25%, 04/15/2025		16,000		18,653
Health Care Service Corp.
2.20%, 06/01/2030 (D)		75,000		77,741
Quest Diagnostics, Inc.
4.20%, 06/30/2029		92,000		109,866
UnitedHealth Group, Inc.
2.00%, 05/15/2030		56,000		57,776
				716,442
Household Durables - 0.1%
D.R. Horton, Inc.
4.38%, 09/15/2022		74,000		77,912

Transamerica Funds Page    6

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Industrial Conglomerates - 0.1%
Carlisle Cos., Inc.
3.75%, 12/01/2027		$   72,000		$   81,965
General Electric Co.
6.88%, 01/10/2039, MTN		16,000		22,974
				104,939
Insurance - 0.5%
Allianz SE
Fixed until 11/17/2025 (F), 3.50% (C) (D)		200,000		201,876
American International Group, Inc.
4.20%, 04/01/2028		56,000		65,554
4.25%, 03/15/2029		46,000		54,488
Markel Corp.
3.35%, 09/17/2029		101,000		112,350
Pacific LifeCorp
3.35%, 09/15/2050(D)		40,000		42,963
Prudential Financial, Inc.
Fixed until 07/01/2030, 3.70% (C), 10/01/2050		111,000		116,272
Reinsurance Group of America, Inc.
3.90%, 05/15/2029		78,000		88,752
				682,255
Interactive Media & Services - 0.3%
Alphabet, Inc.
1.10%, 08/15/2030		76,000		73,514
Baidu, Inc.
4.38%, 05/14/2024		200,000		220,353
Tencent Holdings, Ltd.
3.28%, 04/11/2024 (D)		97,000		103,062
				396,929
Internet & Direct Marketing Retail - 0.1%
Expedia Group, Inc.
3.80%, 02/15/2028		65,000		69,228
IT Services - 0.1%
Fidelity National Information Services, Inc.
3.75%, 05/21/2029		34,000		39,102
Fiserv, Inc.
3.50%, 07/01/2029		63,000		70,926
				110,028
Life Sciences Tools & Services - 0.0% (B)
Thermo Fisher Scientific, Inc.
5.30%, 02/01/2044		36,000		50,785
Machinery - 0.0% (B)
Xylem, Inc.
1.95%, 01/30/2028		45,000		46,878
Media - 0.1%
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		44,000		49,933
Clear Channel Worldwide Holdings, Inc.
5.13%, 08/15/2027 (D)		35,000		35,744
NBCUniversal Media LLC
4.45%, 01/15/2043		38,000		47,811
ViacomCBS, Inc.
4.20%, 05/19/2032		44,000		52,054
				185,542

		Principal		Value
CORPORATE DEBT SECURITIES (continued)
Metals & Mining - 0.3%
Anglo American Capital PLC
4.00%, 09/11/2027 (D)			$   200,000		$   230,408
Freeport-McMoRan, Inc.
3.88%, 03/15/2023			118,000		123,265
					353,673
Multi-Utilities - 0.1%
Black Hills Corp.
4.25%, 11/30/2023			71,000		77,690
CMS Energy Corp.
3.88%, 03/01/2024			17,000		18,507
4.88%, 03/01/2044			26,000		33,234
Public Service Enterprise Group, Inc.
2.65%, 11/15/2022			6,000		6,225
					135,656
Oil, Gas & Consumable Fuels - 1.0%
Boardwalk Pipelines, LP
3.40%, 02/15/2031			46,000		47,785
BP Capital Markets PLC
3.12%, 05/04/2026			174,000		188,959
Chevron USA, Inc.
3.25%, 10/15/2029			47,000		53,002
Energy Transfer Operating, LP
5.15%, 03/15/2045			133,000		139,937
5.95%, 10/01/2043 (E)			28,000		31,097
Enterprise Products Operating LLC
4.25%, 02/15/2048			104,000		116,696
Kinder Morgan Energy Partners, LP
4.15%, 02/01/2024			52,000		56,746
Occidental Petroleum Corp.
5.55%, 03/15/2026	��		62,000		65,177
Petroleos Mexicanos
6.84%, 01/23/2030			139,000		139,695
7.69%, 01/23/2050			17,000		16,073
Pioneer Natural Resources Co.
2.15%, 01/15/2031			90,000		88,874
Plains All American Pipeline, LP / PAA Finance Corp.
3.55%, 12/15/2029 (E)			52,000		54,073
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028			41,000		46,494
Shell International Finance BV
2.50%, 09/12/2026			103,000		111,186
3.75%, 09/12/2046			30,000		34,338
Williams Cos., Inc.
5.40%, 03/04/2044			28,000		33,995
7.88%, 09/01/2021			26,000		27,116
					1,251,243
Pharmaceuticals - 0.5%
AstraZeneca PLC
2.38%, 06/12/2022			65,000		66,678
4.00%, 01/17/2029			25,000		29,396
4.38%, 08/17/2048 (E)			34,000		43,813
Bayer US Finance II LLC
4.38%, 12/15/2028 (D)			200,000		234,270
Bristol-Myers Squibb Co.
1.45%, 11/13/2030			67,000		65,722
3.20%, 06/15/2026			38,000		42,430
Merck & Co., Inc.
3.40%, 03/07/2029			41,000		46,894
Royalty Pharma PLC
2.20%, 09/02/2030 (D)			77,000		77,642

Transamerica Funds Page    7

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Pharmaceuticals (continued)
Viatris, Inc.
2.30%, 06/22/2027 (D)		$   35,000		$   36,853
Zoetis, Inc.
2.00%, 05/15/2030		42,000		42,546
				686,244
Professional Services - 0.2%
Equifax, Inc.
2.60%, 12/01/2024		52,000		55,442
Experian Finance PLC
2.75%, 03/08/2030 (D)		200,000		213,783
				269,225
Road & Rail - 0.2%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (D)		120,000		130,023
5.50%, 01/15/2026 (D)		47,000		53,143
Burlington Northern Santa Fe LLC
3.00%, 03/15/2023		13,000		13,647
3.75%, 04/01/2024		8,000		8,760
CSX Corp.
3.80%, 11/01/2046 - 04/15/2050		74,000		86,082
				291,655
Semiconductors & Semiconductor Equipment - 0.7%
Broadcom, Inc.
1.95%, 02/15/2028 (D)		31,000		31,112
Intel Corp.
2.88%, 05/11/2024		68,000		73,031
KLA Corp.
3.30%, 03/01/2050		56,000		61,366
Lam Research Corp.
1.90%, 06/15/2030		48,000		49,008
3.75%, 03/15/2026		70,000		79,700
Micron Technology, Inc.
2.50%, 04/24/2023		31,000		32,340
NVIDIA Corp.
2.85%, 04/01/2030		60,000		66,000
NXP BV / NXP Funding LLC / NXP USA, Inc.
3.40%, 05/01/2030 (D)		75,000		83,657
QUALCOMM, Inc.
3.25%, 05/20/2027		82,000		92,698
3.25%, 05/20/2050 (E)		39,000		43,180
TSMC Global, Ltd.
1.38%, 09/28/2030 (D)		200,000		194,379
Xilinx, Inc.
2.38%, 06/01/2030		64,000		66,203
				872,674
Software - 0.2%
Adobe, Inc.
2.15%, 02/01/2027		61,000		65,051
Crowdstrike Holdings, Inc.
3.00%, 02/15/2029		15,000		15,178
Infor, Inc.
1.75%, 07/15/2025 (D)		68,000		70,161
Intuit, Inc.
1.35%, 07/15/2027		49,000		49,689
Microsoft Corp.
3.30%, 02/06/2027		40,000		45,422
				245,501
Technology Hardware, Storage & Peripherals - 0.3%
Apple, Inc.
2.65%, 05/11/2050		40,000		40,194
2.85%, 02/23/2023		83,000		87,193

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Technology Hardware, Storage & Peripherals (continued)
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (D)		$   60,000		$   72,350
Hewlett Packard Enterprise Co.
4.45%, 10/02/2023		55,000		60,343
Seagate HDD Cayman
4.13%, 01/15/2031 (D)		12,000		12,571
Western Digital Corp.
4.75%, 02/15/2026		120,000		133,050
				405,701
Tobacco - 0.2%
Altria Group, Inc.
3.40%, 05/06/2030		55,000		60,321
BAT Capital Corp.
2.26%, 03/25/2028		128,000		130,533
4.91%, 04/02/2030		52,000		61,460
				252,314
Wireless Telecommunication Services - 0.4%
America Movil SAB de CV
3.13%, 07/16/2022		200,000		207,588
Crown Castle Towers LLC
3.22%, 05/15/2042 (D)		42,000		42,431
3.72%, 07/15/2043 (D)		105,000		109,720
Sprint Corp.
7.88%, 09/15/2023		42,000		48,510
T-Mobile USA, Inc.
3.88%, 04/15/2030 (D)		82,000		92,771
				501,020
Total Corporate Debt Securities (Cost $17,913,981)				19,118,641
FOREIGN GOVERNMENT OBLIGATIONS - 0.5%
Colombia - 0.1%
Colombia Government International Bond
4.50%, 01/28/2026		200,000		224,502
Indonesia - 0.2%
Indonesia Government International Bond
5.38%, 10/17/2023 (D)		200,000		224,928
Mexico - 0.1%
Mexico Government International Bond
3.75%, 01/11/2028		116,000		129,076
Peru - 0.1%
Peru Government International Bond
7.35%, 07/21/2025		100,000		127,001
Total Foreign Government Obligations (Cost $646,674)				705,507
MORTGAGE-BACKED SECURITIES - 3.5%
Alternative Loan Trust
Series 2007-22, Class 2A16,
6.50%, 09/25/2037		157,437		95,764
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (D)		100,000		99,006
Series 2012-TFT, Class C,
3.47% (C), 06/05/2030 (D)		315,000		177,305
BBCMS Trust
Series 2013-TYSN, Class B,
4.04%, 09/05/2032 (D)		245,000		244,750

Transamerica Funds Page    8

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
3.75%, 03/10/2047		$   24,209		$   26,329
Series 2014-GC19, Class A4,
4.02%, 03/10/2047		65,000		71,427
Series 2015-GC27, Class B,
3.77%, 02/10/2048		157,700		170,448
Citigroup Mortgage Loan Trust, Inc.
Series 2015-A, Class A1,
3.50% (C), 06/25/2058 (D)		24,998		25,464
Series 2018-RP1, Class A1,
3.00% (C), 09/25/2064 (D)		62,733		66,010
COMM Mortgage Trust
Series 2013-CR11, Class AM,
4.72% (C), 08/10/2050		120,000		131,043
Series 2013-GAM, Class A2,
3.37%, 02/10/2028 (D)		100,000		99,011
Series 2015-3BP, Class A,
3.18%, 02/10/2035 (D)		310,000		334,668
Series 2016-GCT, Class C,
3.46% (C), 08/10/2029 (D)		100,000		100,133
Commercial Mortgage Pass-Through Certificates Trust
Series 2012-LTRT, Class A2,
3.40%, 10/05/2030 (D)		132,000		127,973
CSMC Trust
Series 2014-4R, Class 21A1,
1-Month LIBOR + 0.33%, 0.81% (C), 12/27/2035 (D)		41,909		41,846
Series 2021-RPL2, Class A1A,
1.11% (C), 01/25/2060 (D) (I)		220,000		220,000
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 (D)		150,000		157,823
GMACM Mortgage Loan Trust
Series 2005-AR1, Class 3A,
3.84% (C), 03/18/2035		28,826		27,919
GS Mortgage Securities Trust
Series 2013-G1, Class A2,
3.56% (C), 04/10/2031 (D)		285,000		284,512
Impac CMB Trust
Series 2004-6, Class 1A1,
1-Month LIBOR + 0.80%, 0.93% (C), 10/25/2034		24,366		24,551
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.30% (C), 08/25/2037		105,927		91,696
Merrill Lynch Mortgage Investors Trust
Series 2003-F, Class A1,
1-Month LIBOR + 0.64%, 0.77% (C), 10/25/2028		14,665		14,671
Morgan Stanley Capital Barclays Bank Trust
Series 2016-MART, Class A,
2.20%, 09/13/2031 (D)		360,000		360,009
Morgan Stanley Resecuritization Trust
Series 2014-R3, Class 2A,
2.88% (C), 07/26/2048 (D)		56,452		56,431
Motel 6 Trust
Series 2017-MTL6, Class C,
1-Month LIBOR + 1.40%, 1.53% (C), 08/15/2034 (D)		139,683		139,685
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% (C), 12/25/2052 (D)		43,207		44,757

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (C), 01/25/2054 (D)		$   21,167		$   22,491
Series 2014-2A, Class A3,
3.75% (C), 05/25/2054 (D)		53,051		56,608
Series 2014-3A, Class AFX3,
3.75% (C), 11/25/2054 (D)		40,547		43,582
Series 2016-3A, Class A1B,
3.25% (C), 09/25/2056 (D)		37,607		39,809
Series 2017-1A, Class A1,
4.00% (C), 02/25/2057 (D)		78,973		85,149
Series 2017-3A, Class A1,
4.00% (C), 04/25/2057 (D)		134,724		143,669
Series 2017-4A, Class A1,
4.00% (C), 05/25/2057 (D)		50,110		53,692
Series 2018-RPL1, Class A1,
3.50% (C), 12/25/2057 (D)		63,588		66,880
Series 2019-4A, Class A1B,
3.50% (C), 12/25/2058 (D)		176,294		186,269
Series 2019-5A, Class A1B,
3.50% (C), 08/25/2059 (D)		163,795		171,338
One Market Plaza Trust
Series 2017-1MKT, Class A,
3.61%, 02/10/2032 (D)		195,000		202,196
Queens Center Mortgage Trust
Series 2013-QCA, Class D,
3.47% (C), 01/11/2037 (D)		130,000		121,548
Structured Asset Mortgage Investments II Trust
Series 2003-AR4, Class A1,
1-Month LIBOR + 0.70%, 0.83% (C), 01/19/2034		45,657		45,286
Total Mortgage-Backed Securities (Cost $4,575,858)				4,471,748
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.3%
California - 0.2%
Los Angeles Community College District, General Obligation Unlimited,
6.60%, 08/01/2042		15,000		24,727
State of California, General Obligation Unlimited
7.30%, 10/01/2039		50,000		81,481
7.60%, 11/01/2040		55,000		98,311
University of California, Revenue Bonds,
Series AD,
4.86%, 05/15/2112		10,000		14,428
				218,947
Georgia - 0.0% (B)
Municipal Electric Authority of Georgia, Revenue Bonds,
Series A,
6.64%, 04/01/2057		10,000		14,940
New Jersey - 0.0% (B)
New Jersey Turnpike Authority, Revenue Bonds,
Series F,
7.41%, 01/01/2040		14,000		23,412
New York - 0.1%
Metropolitan Transportation Authority, Revenue Bonds,
Series E,
6.81%, 11/15/2040		15,000		21,407

Transamerica Funds Page    9

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New York (continued)
New York City Water & Sewer System, Revenue Bonds,
Series CC,
5.88%, 06/15/2044		$   15,000		$   23,692
New York State Dormitory Authority, Revenue Bonds,
Series H,
5.39%, 03/15/2040		10,000		13,704
Port Authority of New York & New Jersey, Revenue Bonds,
Series 181,
4.96%, 08/01/2046		20,000		27,012
				85,815
Total Municipal Government Obligations (Cost $281,822)				343,114
U.S. GOVERNMENT AGENCY OBLIGATIONS - 7.8%
Federal Home Loan Mortgage Corp.
12-Month LIBOR + 1.90%, 3.90% (C), 02/01/2041		3,411		3,525
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
1.38%, 06/25/2030		245,000		247,328
2.89%, 06/25/2027		132,247		141,100
3.01%, 07/25/2025		188,000		206,890
3.06% (C), 07/25/2023 - 08/25/2024		455,000		492,727
Federal National Mortgage Association
3.33% (C), 10/25/2023		38,365		40,609
3.50%, 11/01/2028 - 01/01/2029		57,375		62,797
12-Month LIBOR + 1.75%, 3.75% (C), 03/01/2041		2,247		2,250
12-Month LIBOR + 1.82%, 3.82% (C), 03/01/2041		568		571
4.00%, 10/01/2025 - 07/01/2026		14,001		14,906
4.50%, 02/01/2025		1,806		1,904
5.00%, 04/01/2039 - 11/01/2039		93,657		107,473
5.50%, 09/01/2036 - 12/01/2041		173,768		203,416
6.00%, 05/01/2038 - 04/01/2040		94,064		112,443
6.50%, 05/01/2040		27,110		32,500
Government National Mortgage Association, Interest Only STRIPS
0.71% (C), 02/16/2053		123,131		3,260
Uniform Mortgage-Backed Security
2.00%, TBA (J)		2,440,000		2,526,137
2.50%, TBA (J)		2,247,000		2,362,204
3.00%, TBA (J)		1,673,000		1,759,231
3.50%, TBA (J)		1,168,000		1,241,908
4.00%, TBA (J)		355,000		380,675
Total U.S. Government Agency Obligations (Cost $9,859,484)				9,943,854
U.S. GOVERNMENT OBLIGATIONS - 8.8%
U.S. Treasury - 7.6%
U.S. Treasury Bond
1.25%, 05/15/2050		730,000		628,941
2.00%, 02/15/2050		301,000		311,852
2.25%, 08/15/2046		95,000		103,762
2.50%, 02/15/2045 - 05/15/2046		355,000		405,998
2.75%, 08/15/2042 - 08/15/2047 (E)		481,500		575,169
2.75%, 11/15/2047		183,000		219,764
2.88%, 08/15/2045 (E)		166,000		202,637
2.88%, 05/15/2049		319,300		394,373
3.00%, 05/15/2042 (E)		58,000		71,881

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury (continued)
3.00%, 08/15/2048		$   108,100		$   136,067
3.13%, 02/15/2042 - 05/15/2048		252,500		319,211
3.63%, 02/15/2044		503,300		686,100
4.50%, 02/15/2036		67,000		95,768
5.25%, 02/15/2029		177,000		237,152
U.S. Treasury Note
0.13%, 12/31/2022		500,000		500,039
0.25%, 08/31/2025		249,000		247,444
0.63%, 05/15/2030		366,000		352,218
0.63%, 08/15/2030 (E)		88,000		84,425
1.50%, 08/15/2026 - 02/15/2030		526,300		551,358
1.63%, 02/15/2026 - 08/15/2029 (E)		630,000		665,651
1.75%, 07/31/2021 - 05/15/2023		938,000		953,544
2.00%, 02/15/2025		93,000		99,296
2.13%, 06/30/2021		143,000		144,195
2.13%, 06/30/2022 - 05/15/2025 (E)		512,000		542,549
2.25%, 11/15/2027		18,300		20,131
2.38%, 01/31/2023		237,000		247,600
2.63%, 12/15/2021		475,000		485,391
2.88%, 08/15/2028 (E)		204,000		234,409
3.13%, 11/15/2028 (E)		126,500		148,005
				9,664,930
U.S. Treasury Inflation-Protected Securities - 1.2%
U.S. Treasury Inflation-Indexed Bond
0.25%, 02/15/2050		172,074		199,712
1.75%, 01/15/2028		89,446		110,486
2.50%, 01/15/2029		330,565		435,893
U.S. Treasury Inflation-Indexed Note
0.13%, 07/15/2030		177,627		199,597
0.63%, 01/15/2024		467,396		505,202
				1,450,890
Total U.S. Government Obligations (Cost $10,526,776)				11,115,820
COMMERCIAL PAPER - 5.6%
Banks - 2.8%
Concord Minutemen Capital Co.
0.23% (K), 02/18/2021		450,000		449,961
DnB Bank ASA
0.16% (K), 04/28/2021		450,000		449,845
Korea Development Bank
0.20% (K), 02/03/2021		360,000		359,995
Macquarie Bank, Ltd.
0.24% (K), 03/02/2021		400,000		399,953
Manhattan Asset Funding Co. LLC
0.20% (K), 03/02/2021		450,000		449,935
Natixis
0.20% (K), 04/01/2021		300,000		299,943
Skandinaviska Enskilda Banken AB
0.19% (K), 02/17/2021		500,000		499,974
Societe Generale SA
0.18% (K), 04/26/2021		250,000		249,894
Sumitomo Mitsui Brokerage Corp.
0.21% (K), 02/11/2021		400,000		399,986
				3,559,486
Capital Markets - 0.4%
Cedar Springs Capital Co. LLC
0.18% (K), 03/19/2021		450,000		449,896
Diversified Financial Services - 2.4%
Anglesea Funding PLC
0.20% (K), 02/04/2021		450,000		449,990

Transamerica Funds Page    10

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

	Principal		Value
COMMERCIAL PAPER (continued)
Diversified Financial Services (continued)
Jupiter Securitization Co. LLC
0.18% (K), 02/08/2021		$   475,000		$   474,982
Liberty Funding LLC
0.19% (K), 03/03/2021		250,000		249,963
LMA SA / LMA Americas LLC
0.18% (K), 02/04/2021		324,000		323,994
Mont Blanc Capital Corp.
0.20% (K), 05/07/2021		375,000		374,803
Old Line Funding LLC
0.17% (K), 04/13/2021		363,000		362,874
Sheffield Receivable
0.18% (K), 02/04/2021		250,000		249,995
Starbird Funding Corp.
0.20% (K), 02/22/2021		325,000		324,966
Victory Receivables Corp.
0.20% (K), 04/01/2021		265,000		264,926
				3,076,493
Total Commercial Paper (Cost $7,085,666)				7,085,875
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.9%
U.S. Treasury Bill
0.07% (K), 03/11/2021 - 03/18/2021		670,000		669,961
0.08% (K), 03/04/2021		225,000		224,990
0.09% (K), 02/04/2021 (E)		125,000		125,000
0.09% (K), 04/01/2021		125,000		124,987
Total Short-Term U.S. Government Obligations (Cost $1,144,908)				1,144,938
	Shares		Value
OTHER INVESTMENT COMPANY - 0.9%
Securities Lending Collateral - 0.9%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 0.06% (K)		1,107,833		1,107,833
Total Other Investment Company (Cost $1,107,833)				1,107,833
Total Investments (Cost $108,683,566)				134,716,047
Net Other Assets (Liabilities) - (6.4)%				(8,134,453	)
Net Assets - 100.0%				$  126,581,594

Transamerica Funds Page    11

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
2-Year U.S. Treasury Note		2		03/31/2021		$	442,020		$	441,953		$	—		$	(67	)
S&P 500® E-Mini Index		4		03/19/2021			756,371			741,040			—			(15,331	)
Total Futures Contracts												$	—		$	(15,398	)

INVESTMENT VALUATION:

Valuation Inputs ^(L)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (M)		Value
ASSETS
Investments
Common Stocks	$	76,037,883		$	—	$	—	$	76,037,883
Preferred Stock		7,782			—		—		7,782
Asset-Backed Securities		—			3,633,052		—		3,633,052
Corporate Debt Securities		—			19,118,641		0		19,118,641
Foreign Government Obligations		—			705,507		—		705,507
Mortgage-Backed Securities		—			4,471,748		—		4,471,748
Municipal Government Obligations		—			343,114		—		343,114
U.S. Government Agency Obligations		—			9,943,854		—		9,943,854
U.S. Government Obligations		—			11,115,820		—		11,115,820
Commercial Paper		—			7,085,875		—		7,085,875
Short-Term U.S. Government Obligations		—			1,144,938		—		1,144,938
Other Investment Company		1,107,833			—		—		1,107,833
Total Investments	$	77,153,498		$	57,562,549	$	0	$	134,716,047
LIABILITIES
Other Financial Instruments
Futures Contracts (N)	$	(15,398	)	$	—	$	—	$	(15,398	)
Total Other Financial Instruments	$	(15,398	)	$	—	$	—	$	(15,398	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	Floating or variable rate securities. The rates disclosed are as of January 31, 2021. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2021, the total value of 144A securities is $13,539,650, representing 10.7% of the Fund’s net assets.
(E)	All or a portion of the securities are on loan. The total value of all securities on loan is $3,632,853, collateralized by cash collateral of $1,107,833 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $2,599,946. 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.
(F)	Perpetual maturity. The date displayed is the next call date.
(G)	Security deemed worthless.
(H)	Security is Level 3 of the fair value hierarchy.
(I)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2021, the total value of securities is $220,000, representing 0.2% of the Fund’s net assets.
(J)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2021. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(K)	Rates disclosed reflect the yields at January 31, 2021.
(L)	There were no transfers in or out of Level 3 during the period ended January 31, 2021. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(M)	Level 3 securities were not considered significant to the Fund.
(N)	Derivative instruments are valued at unrealized appreciation (depreciation).

Transamerica Funds Page    12

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

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

Transamerica Funds Page    13

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2021

(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 January 31, 2021, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Fund’s significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Equity securities: Securities are stated at the last reported sales price or closing price on the day of valuation taken from the primary exchange where the security is principally traded. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Equities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or Level 3 if inputs are unobservable.

Foreign equity securities: Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, or ETFs and the movement of certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

Corporate debt securities: The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

Transamerica Funds Page    14

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2021

(unaudited)

Foreign government obligations: Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

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.

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

Short-term notes: The Fund normally values short-term government and U.S. government agency securities using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers and reference data. Certain securities are valued by principally using dealer quotations. Short-term government and U.S. government agency securities generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

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

Transamerica Funds Page    15