Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES - 12.2% | ||||||||
Accelerated LLC | ||||||||
Series 2021-1H, Class A, | ||||||||
1.35%, 10/20/2040 (A) | $ 3,126,037 | $ 3,042,065 | ||||||
Series 2021-1H, Class B, | ||||||||
1.90%, 10/20/2040 (A) | 10,968,383 | 10,659,367 | ||||||
Series 2021-1H, Class C, | ||||||||
2.35%, 10/20/2040 (A) | 4,969,175 | 4,832,967 | ||||||
Aligned Data Centers Issuer LLC | ||||||||
Series 2021-1A, Class A2, | ||||||||
1.94%, 08/15/2046 (A) | 9,300,000 | 8,952,148 | ||||||
Anchorage Capital CLO 11 Ltd. | ||||||||
Series 2019-11A, Class AR, | ||||||||
3-Month LIBOR + 1.14%, | 10,000,000 | 10,003,790 | ||||||
Anchorage Capital CLO 9 Ltd. | ||||||||
Series 2016-9A, Class AR2, | ||||||||
3-Month LIBOR + 1.14%, | 10,000,000 | 10,005,910 | ||||||
Apidos CLO XXXI | ||||||||
Series 2019-31A, Class BR, | ||||||||
3-Month LIBOR + 1.55%, | 9,500,000 | 9,504,731 | ||||||
Aqua Finance Trust | ||||||||
Series 2021-A, Class A, | ||||||||
1.54%, 07/17/2046 (A) | 7,603,520 | 7,470,034 | ||||||
BXG Receivables Note Trust | ||||||||
Series 2013-A, Class A, | ||||||||
3.01%, 12/04/2028 (A) | 1,483,143 | 1,483,004 | ||||||
Series 2017-A, Class A, | ||||||||
2.95%, 10/04/2032 (A) | 3,038,192 | 3,054,129 | ||||||
Series 2020-A, Class A, | ||||||||
1.55%, 02/28/2036 (A) | 6,849,518 | 6,723,064 | ||||||
CF Hippolyta LLC | ||||||||
Series 2020-1, Class B1, | ||||||||
2.28%, 07/15/2060 (A) | 5,983,273 | 5,908,706 | ||||||
CIFC Funding Ltd. | ||||||||
Series 2015-2A, Class BR2, | ||||||||
3-Month LIBOR + 1.50%, | 16,300,000 | 16,300,294 | ||||||
CWABS, Inc. Asset-Backed Certificates Trust | ||||||||
Series 2006-17, Class 2A2, | ||||||||
1-Month LIBOR + 0.15%, | 3,763,783 | 3,722,322 | ||||||
Diamond Resorts Owner Trust | ||||||||
Series 2017-1A, Class A, | ||||||||
3.27%, 10/22/2029 (A) | 2,411,143 | 2,413,277 | ||||||
Series 2019-1A, Class A, | ||||||||
2.89%, 02/20/2032 (A) | 3,363,060 | 3,394,159 | ||||||
Series 2021-1A, Class B, | ||||||||
2.05%, 11/21/2033 (A) | 3,014,407 | 2,988,582 | ||||||
Series 2021-1A, Class C, | ||||||||
2.70%, 11/21/2033 (A) | 2,813,446 | 2,818,950 | ||||||
DT Auto Owner Trust | ||||||||
Series 2020-1A, Class B, | ||||||||
2.16%, 05/15/2024 (A) | 1,655,302 | 1,659,214 | ||||||
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
Halcyon Loan Advisors Funding Ltd. | ||||||||
Series 2014-3A, Class B1R, | ||||||||
3-Month LIBOR + 1.70%, | $ 411,985 | $ 412,354 | ||||||
Series 2015-1A, Class B1R, | ||||||||
3-Month LIBOR + 1.55%, | 4,558,557 | 4,558,644 | ||||||
Hilton Grand Vacations Trust | ||||||||
Series 2019-AA, Class A, | ||||||||
2.34%, 07/25/2033 (A) | 4,698,678 | 4,721,576 | ||||||
Series 2020-AA, Class A, | ||||||||
2.74%, 02/25/2039 (A) | 3,793,709 | 3,861,959 | ||||||
Mill City Mortgage Loan Trust | ||||||||
Series 2017-3, Class A1, | ||||||||
2.75% (B), 01/25/2061 (A) | 4,717,920 | 4,765,376 | ||||||
Mountain View CLO Ltd. | ||||||||
Series 2014-1A, Class BRR, | ||||||||
3-Month LIBOR + 1.45%, | 463,673 | 463,795 | ||||||
MVW LLC | ||||||||
Series 2019-2A, Class B, | ||||||||
2.44%, 10/20/2038 (A) | 3,775,317 | 3,772,270 | ||||||
Series 2020-1A, Class A, | ||||||||
1.74%, 10/20/2037 (A) | 4,497,556 | 4,457,491 | ||||||
Series 2021-1WA, Class B, | ||||||||
1.44%, 01/22/2041 (A) | 5,458,653 | 5,355,673 | ||||||
MVW Owner Trust | ||||||||
Series 2019-1A, Class A, | ||||||||
2.89%, 11/20/2036 (A) | 4,549,593 | 4,618,227 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2021-A, Class APT1, | ||||||||
1.36%, 04/20/2062 (A) | 8,300,706 | 8,117,759 | ||||||
New Residential Advance Receivables Trust | ||||||||
Series 2020-APT1, Class AT1, | ||||||||
1.03%, 12/16/2052 (A) | 20,000,000 | 19,956,150 | ||||||
Series 2020-T1, Class AT1, | ||||||||
1.43%, 08/15/2053 (A) | 19,567,000 | 19,449,150 | ||||||
Series 2020-T1, Class CT1, | ||||||||
2.27%, 08/15/2053 (A) | 1,780,000 | 1,765,418 | ||||||
NRZ Advance Receivables Trust | ||||||||
Series 2020-T2, Class AT2, | ||||||||
1.48%, 09/15/2053 (A) | 15,000,000 | 14,910,396 | ||||||
Series 2020-T3, Class AT3, | ||||||||
1.32%, 10/15/2052 (A) | 12,000,000 | 11,992,092 | ||||||
Series 2020-T3, Class BT3, | ||||||||
1.57%, 10/15/2052 (A) | 1,500,000 | 1,497,856 | ||||||
Series 2020-T3, Class DT3, | ||||||||
2.46%, 10/15/2052 (A) | 1,500,000 | 1,499,285 | ||||||
Ocwen Master Advance Receivables Trust | ||||||||
Series 2020-T1, Class AT1, | ||||||||
1.28%, 08/15/2052 (A) | 13,825,916 | 13,822,823 | ||||||
Orange Lake Timeshare Trust | ||||||||
Series 2015-AA, Class A, | ||||||||
2.88%, 09/08/2027 (A) | 1,215,673 | 1,215,980 | ||||||
Series 2016-A, Class A, | ||||||||
2.61%, 03/08/2029 (A) | 2,917,340 | 2,931,175 | ||||||
Series 2018-A, Class C, | ||||||||
3.74%, 11/08/2030 (A) | 1,969,985 | 1,990,381 | ||||||
Series 2019-A, Class C, | ||||||||
3.61%, 04/09/2038 (A) | 3,870,384 | 3,898,366 | ||||||
OZLM Funding IV Ltd. | ||||||||
Series 2013-4A, Class A2R, | ||||||||
3-Month LIBOR + 1.70%, | 6,000,000 | 6,002,004 | ||||||
Transamerica Funds | Page 1 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
PennantPark CLO III Ltd. | ||||||||
Series 2021-3A, Class A1, | ||||||||
3-Month LIBOR + 1.62%, | $ 15,000,000 | $ 14,999,745 | ||||||
Sierra Timeshare Receivables Funding LLC | ||||||||
Series 2018-2A, Class B, | ||||||||
3.65%, 06/20/2035 (A) | 3,762,375 | 3,810,787 | ||||||
Series 2018-3A, Class A, | ||||||||
3.69%, 09/20/2035 (A) | 1,701,107 | 1,742,435 | ||||||
Series 2018-3A, Class D, | ||||||||
5.20%, 09/20/2035 (A) | 1,662,832 | 1,696,592 | ||||||
Series 2019-2A, Class C, | ||||||||
3.12%, 05/20/2036 (A) | 2,938,789 | 2,943,531 | ||||||
Series 2020-2A, Class A, | ||||||||
1.33%, 07/20/2037 (A) | 3,868,088 | 3,821,783 | ||||||
Series 2020-2A, Class C, | ||||||||
3.51%, 07/20/2037 (A) | 3,384,577 | 3,410,235 | ||||||
Series 2021-1A, Class B, | ||||||||
1.34%, 11/20/2037 (A) | 8,235,328 | 8,097,707 | ||||||
SPS Servicer Advance Receivables Trust II | ||||||||
Series 2020-T1, Class AT1, | ||||||||
1.28%, 11/15/2052 (A) | 6,550,000 | 6,532,741 | ||||||
TICP CLO III Ltd. | ||||||||
Series 2018-3R, Class B, | ||||||||
3-Month LIBOR + 1.35%, | 10,000,000 | 10,002,170 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2016-3, Class A1, | ||||||||
2.25% (B), 04/25/2056 (A) | 156,175 | 156,115 | ||||||
Series 2016-5, Class A1, | ||||||||
2.50% (B), 10/25/2056 (A) | 2,533,903 | 2,549,711 | ||||||
Series 2017-2, Class A1, | ||||||||
2.75% (B), 04/25/2057 (A) | 1,691,015 | 1,701,445 | ||||||
Series 2017-3, Class A1, | ||||||||
2.75% (B), 07/25/2057 (A) | 3,511,451 | 3,540,493 | ||||||
Series 2017-4, Class A1, | ||||||||
2.75% (B), 06/25/2057 (A) | 4,617,346 | 4,649,304 | ||||||
Series 2017-6, Class A1, | ||||||||
2.75% (B), 10/25/2057 (A) | 7,763,942 | 7,841,580 | ||||||
Series 2018-1, Class A1, | ||||||||
3.00% (B), 01/25/2058 (A) | 4,598,869 | 4,641,233 | ||||||
Series 2018-2, Class A1, | ||||||||
3.25% (B), 03/25/2058 (A) | 12,229,100 | 12,441,835 | ||||||
Series 2018-3, Class A1, | ||||||||
3.75% (B), 05/25/2058 (A) | 4,583,497 | 4,711,027 | ||||||
Series 2018-4, Class A1, | ||||||||
3.00% (B), 06/25/2058 (A) | 9,575,515 | 9,737,355 | ||||||
Series 2020-4, Class A1, | ||||||||
1.75%, 10/25/2060 (A) | 12,481,235 | 12,363,427 | ||||||
Trafigura Securitisation Finance PLC | ||||||||
Series 2021-1A, Class A2, | ||||||||
1.08%, 01/15/2025 (A) | 7,270,000 | 7,096,298 | ||||||
VSE VOI Mortgage LLC | ||||||||
Series 2017-A, Class A, | ||||||||
2.33%, 03/20/2035 (A) | 7,252,217 | 7,278,123 | ||||||
Welk Resorts LLC | ||||||||
Series 2017-AA, Class A, | ||||||||
2.82%, 06/15/2033 (A) | 2,011,141 | 2,023,934 | ||||||
Wellfleet CLO Ltd. | ||||||||
Series 2015-1A, Class BR4, | ||||||||
3-Month LIBOR + 1.55%, | 10,000,000 | 10,000,910 | ||||||
Series 2016-1A, Class BR, | ||||||||
3-Month LIBOR + 1.50%, | 15,000,000 | 15,001,605 | ||||||
| Principal | Value | |||||||
| ASSET-BACKED SECURITIES (continued) | ||||||||
Wellfleet CLO Ltd. (continued) | ||||||||
Series 2017-2A, Class A2R, | ||||||||
3-Month LIBOR + 1.62%, | $ 15,000,000 | $ 15,002,580 | ||||||
|
| |||||||
Total Asset-Backed Securities |
| 438,767,614 | ||||||
|
| |||||||
| CORPORATE DEBT SECURITIES - 68.3% | ||||||||
| Aerospace & Defense - 1.1% | ||||||||
Boeing Co. | ||||||||
1.43%, 02/04/2024 | 8,549,000 | 8,463,030 | ||||||
1.95%, 02/01/2024 | 9,965,000 | 10,008,752 | ||||||
Huntington Ingalls Industries, Inc. | ||||||||
0.67%, 08/16/2023 (A) | 9,907,000 | 9,740,800 | ||||||
L3 Harris Technologies, Inc. | ||||||||
3.85%, 06/15/2023 | 9,968,000 | 10,263,540 | ||||||
|
| |||||||
| 38,476,122 | ||||||||
|
| |||||||
| Air Freight & Logistics - 0.3% | ||||||||
GXO Logistics, Inc. | ||||||||
1.65%, 07/15/2026 (A) | 10,966,000 | 10,525,057 | ||||||
|
| |||||||
| Airlines - 1.2% | ||||||||
American Airlines Pass-Through Trust | ||||||||
4.38%, 04/01/2024 | 3,110,598 | 3,120,076 | ||||||
Delta Air Lines Pass-Through Trust | ||||||||
3.20%, 10/25/2025 | 6,212,000 | 6,365,603 | ||||||
Delta Air Lines, Inc. | ||||||||
3.80%, 04/19/2023 | 9,957,000 | 10,054,132 | ||||||
Southwest Airlines Co. | ||||||||
5.25%, 05/04/2025 | 16,194,000 | 17,671,359 | ||||||
US Airways Pass-Through Trust | ||||||||
3.95%, 05/15/2027 | 3,898,526 | 3,897,596 | ||||||
|
| |||||||
| 41,108,766 | ||||||||
|
| |||||||
| Auto Components - 1.1% | ||||||||
BorgWarner, Inc. | ||||||||
5.00%, 10/01/2025 (A) | 25,318,000 | 27,866,366 | ||||||
Clarios Global LP / Clarios US Finance Co. | ||||||||
6.25%, 05/15/2026 (A) | 10,304,000 | 10,651,760 | ||||||
|
| |||||||
| 38,518,126 | ||||||||
|
| |||||||
| Banks - 16.0% | ||||||||
AIB Group PLC | ||||||||
4.75%, 10/12/2023 (A) | 8,438,000 | 8,815,569 | ||||||
Banco Santander SA | ||||||||
Fixed until 06/30/2023, | 13,000,000 | 12,854,139 | ||||||
2.71%, 06/27/2024 | 8,400,000 | 8,557,407 | ||||||
3.85%, 04/12/2023 | 4,600,000 | 4,726,225 | ||||||
Bank of America Corp. | ||||||||
3-Month LIBOR + 0.77%, | 9,968,000 | 10,079,529 | ||||||
SOFR + 0.97%, | 10,966,000 | 11,077,271 | ||||||
Fixed until 12/20/2022, | 32,239,000 | 32,733,342 | ||||||
Banque Federative du Credit Mutuel SA | ||||||||
0.65%, 02/27/2024 (A) | 10,000,000 | 9,782,631 | ||||||
2.13%, 11/21/2022 (A) | 4,991,000 | 5,039,336 | ||||||
Barclays PLC | ||||||||
3-Month LIBOR + 1.38%, | 13,510,000 | 13,690,379 | ||||||
5.20%, 05/12/2026 | 13,335,000 | 14,582,889 | ||||||
BNP Paribas SA | ||||||||
Fixed until 06/09/2025, | 14,522,000 | 14,396,870 | ||||||
Transamerica Funds | Page 2 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Banks (continued) | ||||||||
BPCE SA | ||||||||
SOFR + 0.57%, | $ 11,000,000 | $ 11,006,160 | ||||||
5.15%, 07/21/2024 (A) | 14,000,000 | 14,903,274 | ||||||
Canadian Imperial Bank of Commerce | ||||||||
0.45%, 06/22/2023 | 10,895,000 | 10,766,480 | ||||||
Fixed until 07/22/2022, | 4,425,000 | 4,453,762 | ||||||
Citigroup, Inc. | ||||||||
SOFR + 0.69%, | 18,049,000 | 18,092,624 | ||||||
3-Month LIBOR + 1.02%, | 14,675,000 | 14,810,588 | ||||||
Commerzbank AG | ||||||||
8.13%, 09/19/2023 (A) | 8,000,000 | 8,692,250 | ||||||
Cooperatieve Rabobank UA | ||||||||
2.63%, 07/22/2024 (A) | 10,000,000 | 10,201,728 | ||||||
Credit Agricole SA | ||||||||
4.38%, 03/17/2025 (A) | 9,207,000 | 9,724,074 | ||||||
Credit Suisse AG | ||||||||
SOFR + 0.39%, | 16,749,000 | 16,753,037 | ||||||
3.63%, 09/09/2024 | 6,936,000 | 7,246,520 | ||||||
6.50%, 08/08/2023 (A) | 5,462,000 | 5,827,517 | ||||||
Danske Bank A/S | ||||||||
Fixed until 09/10/2024, | 11,000,000 | 10,677,712 | ||||||
1.23%, 06/22/2024 (A) | 10,000,000 | 9,874,357 | ||||||
Fifth Third Bancorp | ||||||||
3.65%, 01/25/2024 | 10,000,000 | 10,363,010 | ||||||
First-Citizens Bank & Trust Co. | ||||||||
Fixed until 09/27/2024, | 6,927,000 | 7,075,979 | ||||||
HSBC Holdings PLC | ||||||||
Fixed until 08/17/2023, | 11,000,000 | 10,824,424 | ||||||
3-Month LIBOR + 1.00%, | 10,000,000 | 10,093,500 | ||||||
Intesa Sanpaolo SpA | ||||||||
3.25%, 09/23/2024 (A) | 11,000,000 | 11,300,613 | ||||||
3.38%, 01/12/2023 (A) | 5,000,000 | 5,085,387 | ||||||
JPMorgan Chase & Co. | ||||||||
SOFR + 0.58%, | 10,000,000 | 10,019,867 | ||||||
SOFR + 0.89%, | 14,954,000 | 15,088,736 | ||||||
Fixed until 07/23/2023, | 6,481,000 | 6,683,573 | ||||||
3.88%, 09/10/2024 | 4,920,000 | 5,173,016 | ||||||
Fixed until 12/05/2023, | 10,000,000 | 10,405,762 | ||||||
Lloyds Banking Group PLC | ||||||||
Fixed until 05/11/2023, | 10,000,000 | 9,893,193 | ||||||
4.50%, 11/04/2024 | 10,740,000 | 11,359,354 | ||||||
Natwest Group PLC | ||||||||
6.00%, 12/19/2023 | 12,464,000 | 13,380,056 | ||||||
6.13%, 12/15/2022 | 4,985,000 | 5,186,131 | ||||||
Nordea Bank Abp | ||||||||
1.00%, 06/09/2023 (A) | 8,797,000 | 8,764,805 | ||||||
PNC Financial Services Group, Inc. | ||||||||
3.90%, 04/29/2024 | 7,811,000 | 8,180,755 | ||||||
Santander UK Group Holdings PLC | ||||||||
4.75%, 09/15/2025 (A) | 2,357,000 | 2,526,614 | ||||||
Santander UK PLC | ||||||||
5.00%, 11/07/2023 (A) | 10,000,000 | 10,512,400 | ||||||
Skandinaviska Enskilda Banken AB | ||||||||
0.65%, 09/09/2024 (A) | 22,000,000 | 21,400,147 | ||||||
Standard Chartered PLC | ||||||||
Fixed until 01/12/2024, | 5,000,000 | 4,890,434 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Banks (continued) | ||||||||
Standard Chartered PLC (continued) | ||||||||
Fixed until 10/14/2022, | $ 10,220,000 | $ 10,203,360 | ||||||
Swedbank AB | ||||||||
1.30%, 06/02/2023 (A) | 9,000,000 | 8,992,088 | ||||||
Synovus Bank | ||||||||
Fixed until 02/10/2022, | 9,052,000 | 9,053,868 | ||||||
Truist Bank | ||||||||
SOFR + 0.73%, | 7,250,000 | 7,281,959 | ||||||
UniCredit SpA | ||||||||
Fixed until 09/22/2025, | 8,885,000 | 8,719,188 | ||||||
US Bancorp | ||||||||
2.40%, 07/30/2024 | 9,070,000 | 9,243,489 | ||||||
Wells Fargo & Co. | ||||||||
Fixed until 10/30/2024, | 10,668,000 | 10,733,419 | ||||||
3.75%, 01/24/2024 | 14,000,000 | 14,558,535 | ||||||
|
| |||||||
| 576,359,332 | ||||||||
|
| |||||||
| Beverages - 0.6% | ||||||||
Keurig Dr. Pepper, Inc. | ||||||||
0.75%, 03/15/2024 | 15,849,000 | 15,518,318 | ||||||
4.42%, 05/25/2025 | 7,016,000 | 7,504,666 | ||||||
|
| |||||||
| 23,022,984 | ||||||||
|
| |||||||
| Biotechnology - 0.5% | ||||||||
AbbVie, Inc. | ||||||||
3.80%, 03/15/2025 | 9,966,000 | 10,476,200 | ||||||
Gilead Sciences, Inc. | ||||||||
0.75%, 09/29/2023 | 8,908,000 | 8,812,431 | ||||||
|
| |||||||
| 19,288,631 | ||||||||
|
| |||||||
| Building Products - 0.5% | ||||||||
Carlisle Cos., Inc. | ||||||||
0.55%, 09/01/2023 | 6,980,000 | 6,874,637 | ||||||
Owens Corning | ||||||||
4.20%, 12/01/2024 | 9,968,000 | 10,539,996 | ||||||
|
| |||||||
| 17,414,633 | ||||||||
|
| |||||||
| Capital Markets - 4.2% | ||||||||
Charles Schwab Corp. | ||||||||
2.65%, 01/25/2023 | 9,964,000 | 10,118,143 | ||||||
Deutsche Bank AG | ||||||||
Fixed until 11/26/2024, | 6,000,000 | 6,248,796 | ||||||
4.50%, 04/01/2025 | 14,000,000 | 14,576,101 | ||||||
Goldman Sachs Group, Inc. | ||||||||
SOFR + 0.58%, | 16,824,000 | 16,816,883 | ||||||
SOFR + 1.12%, | 15,000,000 | 15,077,850 | ||||||
3-Month LIBOR + 1.17%, | 4,984,000 | 5,068,230 | ||||||
Intercontinental Exchange, Inc. | ||||||||
0.70%, 06/15/2023 | 8,712,000 | 8,644,657 | ||||||
Macquarie Group Ltd. | ||||||||
SOFR + 0.71%, | 11,965,000 | 11,974,692 | ||||||
Fixed until 01/12/2026, | 14,952,000 | 14,297,204 | ||||||
Morgan Stanley | ||||||||
Fixed until 07/22/2024, | 4,981,000 | 5,056,526 | ||||||
4.10%, 05/22/2023 | 14,873,000 | 15,371,358 | ||||||
4.88%, 11/01/2022 | 25,065,000 | 25,768,120 | ||||||
Transamerica Funds | Page 3 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Capital Markets (continued) | ||||||||
UBS Group AG | ||||||||
Fixed until 07/30/2023, 1.01% (B), 07/30/2024 (A) | $ 3,000,000 | $ 2,965,288 | ||||||
|
| |||||||
| 151,983,848 | ||||||||
|
| |||||||
| Chemicals - 1.3% | ||||||||
DuPont de Nemours, Inc. | ||||||||
4.21%, 11/15/2023 | 20,112,000 | 21,028,000 | ||||||
International Flavors & Fragrances, Inc. | ||||||||
0.70%, 09/15/2022 (A) | 4,322,000 | 4,310,178 | ||||||
LYB International Finance III LLC | ||||||||
1.25%, 10/01/2025 | 4,888,000 | 4,744,770 | ||||||
Syngenta Finance NV | ||||||||
4.44%, 04/24/2023 (A) | 10,000,000 | 10,192,824 | ||||||
Westlake Chemical Corp. | ||||||||
0.88%, 08/15/2024 | 4,870,000 | 4,742,868 | ||||||
|
| |||||||
| 45,018,640 | ||||||||
|
| |||||||
| Commercial Services & Supplies - 0.8% | ||||||||
Ashtead Capital, Inc. | ||||||||
1.50%, 08/12/2026 (A) | 8,869,000 | 8,543,936 | ||||||
Triton Container International Ltd. | ||||||||
0.80%, 08/01/2023 (A) | 19,832,000 | 19,608,568 | ||||||
|
| |||||||
| 28,152,504 | ||||||||
|
| |||||||
| Communications Equipment - 0.3% | ||||||||
Telefonaktiebolaget LM Ericsson | ||||||||
4.13%, 05/15/2022 | 10,889,000 | 10,974,696 | ||||||
|
| |||||||
| Construction Materials - 0.8% | ||||||||
CRH America, Inc. | ||||||||
3.88%, 05/18/2025 (A) | 10,000,000 | 10,505,699 | ||||||
Martin Marietta Materials, Inc. | ||||||||
0.65%, 07/15/2023 | 19,809,000 | 19,587,191 | ||||||
|
| |||||||
| 30,092,890 | ||||||||
|
| |||||||
| Consumer Finance - 3.9% | ||||||||
Ally Financial, Inc. | ||||||||
5.75%, 11/20/2025 | 16,948,000 | 18,620,376 | ||||||
American Express Co. | ||||||||
3.40%, 02/22/2024 | 17,634,000 | 18,248,436 | ||||||
American Honda Finance Corp. | ||||||||
0.88%, 07/07/2023 | 11,959,000 | 11,885,035 | ||||||
Daimler Finance North America LLC | ||||||||
0.75%, 03/01/2024 (A) | 13,548,000 | 13,301,028 | ||||||
Ford Motor Credit Co. LLC | ||||||||
2.70%, 08/10/2026 | 2,006,000 | 1,943,312 | ||||||
3.38%, 11/13/2025 | 7,233,000 | 7,241,101 | ||||||
General Motors Financial Co., Inc. | ||||||||
SOFR + 0.76%, | 14,954,000 | 14,983,210 | ||||||
2.75%, 06/20/2025 | 9,971,000 | 10,100,420 | ||||||
4.15%, 06/19/2023 | 4,587,000 | 4,734,706 | ||||||
Hyundai Capital America | ||||||||
0.80%, 04/03/2023 - 01/08/2024 (A) | 24,933,000 | 24,601,478 | ||||||
Nissan Motor Acceptance Co. LLC | ||||||||
1.13%, 09/16/2024 (A) (C) | 14,956,000 | 14,511,715 | ||||||
|
| |||||||
| 140,170,817 | ||||||||
|
| |||||||
| Containers & Packaging - 1.3% | ||||||||
Avery Dennison Corp. | ||||||||
0.85%, 08/15/2024 | 14,954,000 | 14,605,158 | ||||||
Berry Global, Inc. | ||||||||
0.95%, 02/15/2024 | 5,506,000 | 5,415,454 | ||||||
1.57%, 01/15/2026 | 4,984,000 | 4,804,281 | ||||||
4.88%, 07/15/2026 (A) | 9,968,000 | 10,204,740 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Containers & Packaging (continued) | ||||||||
Sonoco Products Co. | ||||||||
1.80%, 02/01/2025 | $ 10,717,000 | $ 10,643,072 | ||||||
|
| |||||||
| 45,672,705 | ||||||||
|
| |||||||
| Diversified Consumer Services - 0.5% | ||||||||
Nationwide Building Society | ||||||||
0.55%, 01/22/2024 (A) | 10,000,000 | 9,771,121 | ||||||
Fixed until 03/08/2023, 3.77% (B), 03/08/2024 (A) | 6,821,000 | 6,971,320 | ||||||
|
| |||||||
| 16,742,441 | ||||||||
|
| |||||||
| Diversified Financial Services - 2.0% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust | ||||||||
1.65%, 10/29/2024 | 14,842,000 | 14,583,501 | ||||||
3.30%, 01/23/2023 | 6,030,000 | 6,141,032 | ||||||
AIG Global Funding | ||||||||
0.65%, 06/17/2024 (A) | 10,966,000 | 10,680,856 | ||||||
Aviation Capital Group LLC | ||||||||
1.95%, 01/30/2026 (A) | 2,234,000 | 2,146,462 | ||||||
3.88%, 05/01/2023 (A) | 7,000,000 | 7,158,080 | ||||||
5.50%, 12/15/2024 (A) | 10,832,000 | 11,664,710 | ||||||
Element Fleet Management Corp. | ||||||||
1.60%, 04/06/2024 (A) (C) | 2,998,000 | 2,973,264 | ||||||
3.85%, 06/15/2025 (A) (C) | 8,707,000 | 9,125,722 | ||||||
Jackson Financial, Inc. | ||||||||
1.13%, 11/22/2023 (A) | 8,360,000 | 8,263,975 | ||||||
|
| |||||||
| 72,737,602 | ||||||||
|
| |||||||
| Diversified Telecommunication Services - 1.5% | ||||||||
AT&T, Inc. | ||||||||
SOFR + 0.64%, | 6,928,000 | 6,929,940 | ||||||
0.90%, 03/25/2024 | 19,939,000 | 19,580,898 | ||||||
Lumen Technologies, Inc. | ||||||||
5.13%, 12/15/2026 (A) | 10,388,000 | 10,457,704 | ||||||
Verizon Communications, Inc. | ||||||||
SOFR + 0.79%, | 16,946,000 | 17,035,423 | ||||||
|
| |||||||
| 54,003,965 | ||||||||
|
| |||||||
| Electric Utilities - 3.4% | ||||||||
American Electric Power Co., Inc. | ||||||||
0.75%, 11/01/2023 | 9,842,000 | 9,727,788 | ||||||
2.95%, 12/15/2022 | 8,469,000 | 8,570,264 | ||||||
Enel Finance International NV | ||||||||
2.65%, 09/10/2024 (A) | 18,000,000 | 18,267,186 | ||||||
Entergy Louisiana LLC | ||||||||
0.95%, 10/01/2024 | 14,957,000 | 14,643,912 | ||||||
Evergy, Inc. | ||||||||
2.45%, 09/15/2024 | 11,565,000 | 11,722,337 | ||||||
Georgia Power Co. | ||||||||
2.10%, 07/30/2023 | 7,441,000 | 7,500,521 | ||||||
Metropolitan Edison Co. | ||||||||
3.50%, 03/15/2023 (A) | 12,044,000 | 12,202,698 | ||||||
NextEra Energy Capital Holdings, Inc. | ||||||||
SOFR + 0.54%, | 9,635,000 | 9,650,664 | ||||||
Oncor Electric Delivery Co. LLC | ||||||||
2.75%, 06/01/2024 | 10,771,000 | 11,020,191 | ||||||
Pacific Gas & Electric Co. | ||||||||
1.75%, 06/16/2022 | 8,781,000 | 8,778,265 | ||||||
Southern Co. | ||||||||
0.60%, 02/26/2024 | 9,968,000 | 9,737,027 | ||||||
|
| |||||||
| 121,820,853 | ||||||||
|
| |||||||
Transamerica Funds | Page 4 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Electrical Equipment - 0.6% | ||||||||
Siemens Financieringsmaatschappij NV | ||||||||
SOFR + 0.43%, | $ 10,000,000 | $ 10,038,645 | ||||||
3.13%, 03/16/2024 (A) | 12,500,000 | 12,882,180 | ||||||
|
| |||||||
| 22,920,825 | ||||||||
|
| |||||||
| Equity Real Estate Investment Trusts - 3.1% | ||||||||
American Tower Corp. | ||||||||
3.00%, 06/15/2023 | 17,032,000 | 17,385,434 | ||||||
CC Holdings GS V LLC / Crown Castle GS III Corp. | ||||||||
3.85%, 04/15/2023 | 17,658,000 | 18,121,177 | ||||||
HAT Holdings I LLC / HAT Holdings II LLC | ||||||||
3.38%, 06/15/2026 (A) | 11,215,000 | 10,794,437 | ||||||
National Retail Properties, Inc. | ||||||||
3.60%, 12/15/2026 | 9,370,000 | 9,835,459 | ||||||
Office Properties Income Trust | ||||||||
2.65%, 06/15/2026 | 9,969,000 | 9,750,580 | ||||||
Realty Income Corp. | ||||||||
4.60%, 02/06/2024 | 23,370,000 | 24,589,911 | ||||||
Simon Property Group LP | ||||||||
SOFR + 0.43%, | 9,776,000 | 9,788,024 | ||||||
Ventas Realty LP | ||||||||
3.25%, 10/15/2026 | 10,968,000 | 11,400,255 | ||||||
|
| |||||||
| 111,665,277 | ||||||||
|
| |||||||
| Food & Staples Retailing - 0.5% | ||||||||
7-Eleven, Inc. | ||||||||
0.80%, 02/10/2024 (A) | 14,868,000 | 14,572,962 | ||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP | ||||||||
3.50%, 02/15/2023 (A) | 3,984,000 | 4,015,872 | ||||||
|
| |||||||
| 18,588,834 | ||||||||
|
| |||||||
| Food Products - 0.1% | ||||||||
Bunge Ltd. Finance Corp. | ||||||||
1.63%, 08/17/2025 | 3,594,000 | 3,526,679 | ||||||
|
| |||||||
| Health Care Equipment & Supplies - 0.6% | ||||||||
Becton Dickinson & Co. | ||||||||
3-Month LIBOR + 1.03%, 1.21% (B), 06/06/2022 | 2,726,000 | 2,734,156 | ||||||
DH Europe Finance II SARL | ||||||||
2.05%, 11/15/2022 | 10,888,000 | 11,000,815 | ||||||
Stryker Corp. | ||||||||
0.60%, 12/01/2023 | 8,974,000 | 8,835,519 | ||||||
|
| |||||||
| 22,570,490 | ||||||||
|
| |||||||
| Health Care Providers & Services - 1.4% | ||||||||
Cigna Corp. | ||||||||
0.61%, 03/15/2024 | 4,941,000 | 4,831,010 | ||||||
3-Month LIBOR + 0.89%, 1.13% (B), 07/15/2023 | 12,689,000 | 12,811,443 | ||||||
CVS Health Corp. | ||||||||
2.63%, 08/15/2024 | 4,979,000 | 5,081,009 | ||||||
HCA, Inc. | ||||||||
5.00%, 03/15/2024 | 14,941,000 | 15,833,000 | ||||||
Laboratory Corp. of America Holdings | ||||||||
2.30%, 12/01/2024 | 9,959,000 | 10,072,927 | ||||||
|
| |||||||
| 48,629,389 | ||||||||
|
| |||||||
| Hotels, Restaurants & Leisure - 0.7% | ||||||||
Expedia Group, Inc. | ||||||||
4.50%, 08/15/2024 | 4,287,000 | 4,508,847 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Hotels, Restaurants & Leisure (continued) | ||||||||
GLP Capital LP / GLP Financing II, Inc. | ||||||||
3.35%, 09/01/2024 | $ 4,479,000 | $ 4,590,729 | ||||||
Hyatt Hotels Corp. | ||||||||
1.30%, 10/01/2023 | 6,980,000 | 6,921,834 | ||||||
Las Vegas Sands Corp. | ||||||||
3.20%, 08/08/2024 | 8,963,000 | 9,072,171 | ||||||
|
| |||||||
| 25,093,581 | ||||||||
|
| |||||||
| Household Durables - 0.7% | ||||||||
Lennar Corp. | ||||||||
5.88%, 11/15/2024 | 21,852,000 | 23,748,535 | ||||||
Newell Brands, Inc. | ||||||||
4.35%, 04/01/2023 | 2,235,000 | 2,275,230 | ||||||
|
| |||||||
| 26,023,765 | ||||||||
|
| |||||||
| Insurance - 3.3% | ||||||||
Allied World Assurance Co. Holdings Ltd. | ||||||||
4.35%, 10/29/2025 | 17,701,000 | 18,777,905 | ||||||
Aon Corp. | ||||||||
2.20%, 11/15/2022 | 7,967,000 | 8,048,507 | ||||||
Athene Global Funding | ||||||||
1.20%, 10/13/2023 (A) | 9,881,000 | 9,804,406 | ||||||
3.00%, 07/01/2022 (A) | 4,205,000 | 4,245,109 | ||||||
Brighthouse Financial Global Funding | ||||||||
1.00%, 04/12/2024 (A) | 14,953,000 | 14,683,401 | ||||||
Brown & Brown, Inc. | ||||||||
4.20%, 09/15/2024 | 12,098,000 | 12,752,325 | ||||||
Five Corners Funding Trust | ||||||||
4.42%, 11/15/2023 (A) | 8,785,000 | 9,200,822 | ||||||
GA Global Funding Trust | ||||||||
0.80%, 09/13/2024 (A) | 22,850,000 | 22,076,617 | ||||||
Marsh & McLennan Cos., Inc. | ||||||||
3.88%, 03/15/2024 | 8,778,000 | 9,182,764 | ||||||
Security Benefit Global Funding | ||||||||
1.25%, 05/17/2024 (A) | 9,969,000 | 9,771,404 | ||||||
|
| |||||||
| 118,543,260 | ||||||||
|
| |||||||
| IT Services - 0.8% | ||||||||
DXC Technology Co. | ||||||||
1.80%, 09/15/2026 | 6,650,000 | 6,431,267 | ||||||
Fidelity National Information Services, Inc. | ||||||||
0.38%, 03/01/2023 | 8,789,000 | 8,702,601 | ||||||
Fiserv, Inc. | ||||||||
2.75%, 07/01/2024 | 13,481,000 | 13,753,549 | ||||||
|
| |||||||
| 28,887,417 | ||||||||
|
| |||||||
| Leisure Products - 0.4% | ||||||||
Brunswick Corp. | ||||||||
0.85%, 08/18/2024 | 14,860,000 | 14,513,916 | ||||||
|
| |||||||
| Media - 1.2% | ||||||||
Charter Communications Operating LLC / Charter Communications Operating Capital | ||||||||
4.91%, 07/23/2025 | 14,947,000 | 16,134,078 | ||||||
Comcast Corp. | ||||||||
3.70%, 04/15/2024 | 6,390,000 | 6,665,386 | ||||||
Discovery Communications LLC | ||||||||
2.95%, 03/20/2023 | 6,297,000 | 6,398,713 | ||||||
DISH DBS Corp. | ||||||||
5.00%, 03/15/2023 | 10,484,000 | 10,650,119 | ||||||
ViacomCBS, Inc. | ||||||||
4.75%, 05/15/2025 | 4,463,000 | 4,800,839 | ||||||
|
| |||||||
| 44,649,135 | ||||||||
|
| |||||||
Transamerica Funds | Page 5 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Metals & Mining - 0.8% | ||||||||
Constellium SE | ||||||||
5.88%, 02/15/2026 (A) | $ 2,000,000 | $ 2,017,500 | ||||||
Freeport-McMoRan, Inc. | ||||||||
3.88%, 03/15/2023 | 12,178,000 | 12,345,448 | ||||||
4.55%, 11/14/2024 | 5,068,000 | 5,322,920 | ||||||
Glencore Funding LLC | ||||||||
3.00%, 10/27/2022 (A) (C) | 6,974,000 | 7,060,468 | ||||||
|
| |||||||
| 26,746,336 | ||||||||
|
| |||||||
| Mortgage Real Estate Investment Trusts - 0.1% | ||||||||
Starwood Property Trust, Inc. | ||||||||
3.75%, 12/31/2024 (A) | 3,490,000 | 3,485,637 | ||||||
|
| |||||||
| Multi-Utilities - 1.4% | ||||||||
Black Hills Corp. | ||||||||
1.04%, 08/23/2024 | 8,946,000 | 8,746,440 | ||||||
4.25%, 11/30/2023 | 9,898,000 | 10,309,067 | ||||||
Dominion Energy, Inc. | ||||||||
2.45%, 01/15/2023 (A) | 7,820,000 | 7,917,769 | ||||||
DTE Energy Co. | ||||||||
2.53%, 10/01/2024 | 10,070,000 | 10,217,298 | ||||||
NiSource, Inc. | ||||||||
0.95%, 08/15/2025 | 14,951,000 | 14,307,920 | ||||||
|
| |||||||
| 51,498,494 | ||||||||
|
| |||||||
| Oil, Gas & Consumable Fuels - 4.2% | ||||||||
Cheniere Corpus Christi Holdings LLC | ||||||||
7.00%, 06/30/2024 | 10,018,000 | 10,946,837 | ||||||
Continental Resources, Inc. | ||||||||
2.27%, 11/15/2026 (A) | 8,968,000 | 8,671,660 | ||||||
DCP Midstream Operating LP | ||||||||
5.38%, 07/15/2025 | 16,350,000 | 17,212,462 | ||||||
Energy Transfer LP | ||||||||
4.20%, 09/15/2023 | 4,980,000 | 5,161,318 | ||||||
Eni SpA | ||||||||
4.00%, 09/12/2023 (A) | 8,629,000 | 8,944,874 | ||||||
Kinder Morgan Energy Partners LP | ||||||||
4.30%, 05/01/2024 | 16,344,000 | 17,161,083 | ||||||
MPLX LP | ||||||||
3.50%, 12/01/2022 | 8,683,000 | 8,839,956 | ||||||
4.88%, 12/01/2024 | 5,661,000 | 6,058,707 | ||||||
Phillips 66 | ||||||||
3.85%, 04/09/2025 | 11,013,000 | 11,590,685 | ||||||
Pioneer Natural Resources Co. | ||||||||
0.75%, 01/15/2024 | 9,927,000 | 9,733,244 | ||||||
Plains All American Pipeline LP / PAA Finance Corp. | ||||||||
3.60%, 11/01/2024 | 1,570,000 | 1,623,829 | ||||||
3.85%, 10/15/2023 | 6,324,000 | 6,519,707 | ||||||
4.65%, 10/15/2025 | 5,976,000 | 6,421,305 | ||||||
SA Global Sukuk Ltd. | ||||||||
0.95%, 06/17/2024 (A) | 3,000,000 | 2,926,200 | ||||||
Sabine Pass Liquefaction LLC | ||||||||
5.63%, 04/15/2023 | 17,281,000 | 17,950,336 | ||||||
Saudi Arabian Oil Co. | ||||||||
1.25%, 11/24/2023 (A) (C) | 1,737,000 | 1,723,972 | ||||||
Williams Cos., Inc. | ||||||||
4.55%, 06/24/2024 | 7,966,000 | 8,410,239 | ||||||
|
| |||||||
| 149,896,414 | ||||||||
|
| |||||||
| Pharmaceuticals - 1.4% | ||||||||
Bayer US Finance II LLC | ||||||||
3.88%, 12/15/2023 (A) | 10,000,000 | 10,333,350 | ||||||
Bristol-Myers Squibb Co. | ||||||||
2.90%, 07/26/2024 | 5,430,000 | 5,599,735 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Pharmaceuticals (continued) | ||||||||
Royalty Pharma PLC | ||||||||
0.75%, 09/02/2023 | $ 9,188,000 | $ 9,054,033 | ||||||
Takeda Pharmaceutical Co. Ltd. | ||||||||
4.40%, 11/26/2023 | 15,000,000 | 15,696,809 | ||||||
Viatris, Inc. | ||||||||
1.13%, 06/22/2022 | 4,078,000 | 4,082,593 | ||||||
1.65%, 06/22/2025 | 4,983,000 | 4,894,253 | ||||||
|
| |||||||
| 49,660,773 | ||||||||
|
| |||||||
| Professional Services - 0.2% | ||||||||
Equifax, Inc. | ||||||||
2.60%, 12/01/2024 | 8,195,000 | 8,337,968 | ||||||
|
| |||||||
| Road & Rail - 1.0% | ||||||||
Avolon Holdings Funding Ltd. | ||||||||
3.63%, 05/01/2022 (A) | 12,397,000 | 12,454,339 | ||||||
5.50%, 01/15/2023 (A) | 6,127,000 | 6,323,292 | ||||||
Canadian Pacific Railway Co. | ||||||||
1.35%, 12/02/2024 | 10,978,000 | 10,838,169 | ||||||
Union Pacific Corp. | ||||||||
3.50%, 06/08/2023 | 4,457,000 | 4,584,818 | ||||||
|
| |||||||
| 34,200,618 | ||||||||
|
| |||||||
| Semiconductors & Semiconductor Equipment - 1.7% | ||||||||
KLA Corp. | ||||||||
4.65%, 11/01/2024 | 17,353,000 | 18,538,744 | ||||||
Microchip Technology, Inc. | ||||||||
0.97%, 02/15/2024 | 10,967,000 | 10,741,628 | ||||||
0.98%, 09/01/2024 (A) | 10,254,000 | 9,975,120 | ||||||
NXP BV / NXP Funding LLC | ||||||||
4.63%, 06/01/2023 (A) | 10,000,000 | 10,383,829 | ||||||
QUALCOMM, Inc. | ||||||||
2.60%, 01/30/2023 | 5,815,000 | 5,903,758 | ||||||
Skyworks Solutions, Inc. | ||||||||
0.90%, 06/01/2023 | 6,931,000 | 6,859,331 | ||||||
|
| |||||||
| 62,402,410 | ||||||||
|
| |||||||
| Software - 0.8% | ||||||||
Infor, Inc. | ||||||||
1.45%, 07/15/2023 (A) | 11,692,000 | 11,651,585 | ||||||
1.75%, 07/15/2025 (A) | 9,836,000 | 9,595,817 | ||||||
VMware, Inc. | ||||||||
0.60%, 08/15/2023 | 6,978,000 | 6,883,571 | ||||||
|
| |||||||
| 28,130,973 | ||||||||
|
| |||||||
| Technology Hardware, Storage & Peripherals - 0.4% | ||||||||
Hewlett Packard Enterprise Co. | ||||||||
1.45%, 04/01/2024 | 9,113,000 | 9,039,343 | ||||||
4.45%, 10/02/2023 | 4,984,000 | 5,208,646 | ||||||
|
| |||||||
| 14,247,989 | ||||||||
|
| |||||||
| Tobacco - 0.6% | ||||||||
BAT Capital Corp. | ||||||||
3.22%, 08/15/2024 | 6,562,000 | 6,727,383 | ||||||
BAT International Finance PLC | ||||||||
1.67%, 03/25/2026 | 14,947,000 | 14,393,072 | ||||||
|
| |||||||
| 21,120,455 | ||||||||
|
| |||||||
| Trading Companies & Distributors - 0.4% | ||||||||
Air Lease Corp. | ||||||||
2.25%, 01/15/2023 | 15,548,000 | 15,701,226 | ||||||
|
| |||||||
| Transportation Infrastructure - 0.2% | ||||||||
Penske Truck Leasing Co. LP / PTL Finance Corp. | ||||||||
3.45%, 07/01/2024 (A) | 7,966,000 | 8,258,794 | ||||||
|
| |||||||
Transamerica Funds | Page 6 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Wireless Telecommunication Services - 0.4% | ||||||||
Sprint Corp. | ||||||||
7.88%, 09/15/2023 | $ 2,975,000 | $ 3,213,000 | ||||||
T-Mobile USA, Inc. | ||||||||
3.50%, 04/15/2025 | 10,291,000 | 10,682,543 | ||||||
|
| |||||||
| 13,895,543 | ||||||||
|
| |||||||
Total Corporate Debt Securities |
| 2,455,280,810 | ||||||
|
| |||||||
| FOREIGN GOVERNMENT OBLIGATION - 0.1% | ||||||||
| Qatar - 0.1% | ||||||||
Qatar Government International Bond | ||||||||
3.88%, 04/23/2023 (A) | 2,175,000 | 2,245,078 | ||||||
|
| |||||||
Total Foreign Government Obligation |
| 2,245,078 | ||||||
|
| |||||||
| LOAN ASSIGNMENT - 0.3% | ||||||||
| Commercial Services & Supplies - 0.3% | ||||||||
Spin Holdco, Inc. | ||||||||
Term Loan, | ||||||||
3-Month LIBOR + 4.00%, 4.75% (B), 03/04/2028 | 9,925,000 | 9,915,690 | ||||||
|
| |||||||
Total Loan Assignment |
| 9,915,690 | ||||||
|
| |||||||
| MORTGAGE-BACKED SECURITIES - 17.9% | ||||||||
20 Times Square Trust | ||||||||
Series 2018-20TS, Class B, | ||||||||
3.10% (B), 05/15/2035 (A) | 3,000,000 | 2,977,050 | ||||||
Series 2018-20TS, Class C, | ||||||||
3.10% (B), 05/15/2035 (A) | 10,900,000 | 10,704,215 | ||||||
280 Park Avenue Mortgage Trust | ||||||||
Series 2017-280P, Class C, | ||||||||
1-Month LIBOR + 1.25%, 1.36% (B), 09/15/2034 (A) | 16,000,000 | 15,929,253 | ||||||
AOA Mortgage Trust | ||||||||
Series 2021-1177, Class C, | ||||||||
1-Month LIBOR + 1.42%, 1.53% (B), 10/15/2038 (A) | 9,300,000 | 9,272,659 | ||||||
Ashford Hospitality Trust | ||||||||
Series 2018-ASHF, Class C, | ||||||||
1-Month LIBOR + 1.40%, 1.51% (B), 04/15/2035 (A) | 18,800,000 | 18,565,216 | ||||||
Series 2018-ASHF, Class D, | ||||||||
1-Month LIBOR + 2.10%, 2.21% (B), 04/15/2035 (A) | 10,520,000 | 10,349,744 | ||||||
Austin Fairmont Hotel Trust | ||||||||
Series 2019-FAIR, Class D, | ||||||||
1-Month LIBOR + 1.80%, 1.91% (B), 09/15/2032 (A) | 5,000,000 | 4,962,386 | ||||||
BBCMS Mortgage Trust | ||||||||
Series 2017-DELC, Class C, | ||||||||
1-Month LIBOR + 1.20%, 1.31% (B), 08/15/2036 (A) | 15,300,000 | 15,223,108 | ||||||
Series 2017-DELC, Class D, | ||||||||
1-Month LIBOR + 1.70%, 1.81% (B), 08/15/2036 (A) | 15,254,000 | 15,168,129 | ||||||
Series 2017-DELC, Class E, | ||||||||
1-Month LIBOR + 2.50%, 2.61% (B), 08/15/2036 (A) | 5,000,000 | 4,968,996 | ||||||
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
BBCMS Mortgage Trust (continued) | ||||||||
Series 2018-TALL, Class C, | ||||||||
1-Month LIBOR + 1.12%, 1.23% (B), 03/15/2037 (A) | $ 16,015,000 | $ 15,515,878 | ||||||
Series 2018-TALL, Class E, | ||||||||
1-Month LIBOR + 2.44%, 2.54% (B), 03/15/2037 (A) | 15,000,000 | 14,250,849 | ||||||
BHMS Trust | ||||||||
Series 2018-ATLS, Class C, | ||||||||
1-Month LIBOR + 1.90%, 2.01% (B), 07/15/2035 (A) | 14,900,000 | 14,825,162 | ||||||
BX | ||||||||
Series 2021-MFM1, Class B, | ||||||||
1-Month LIBOR + 0.95%, 1.06% (B), 01/15/2034 (A) | 6,500,000 | 6,445,266 | ||||||
Series 2021-MFM1, Class C, | ||||||||
1-Month LIBOR + 1.20%, 1.31% (B), 01/15/2034 (A) | 4,000,000 | 3,973,536 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2019-XL, Class D, | ||||||||
1-Month LIBOR + 1.45%, 1.56% (B), 10/15/2036 (A) | 10,200,000 | 10,168,284 | ||||||
Series 2020-VKNG, Class C, | ||||||||
1-Month LIBOR + 1.40%, 1.51% (B), 10/15/2037 (A) | 4,852,325 | 4,830,926 | ||||||
Series 2021-VOLT, Class C, | ||||||||
1-Month LIBOR + 1.10%, 1.21% (B), 09/15/2036 (A) | 11,700,000 | 11,582,719 | ||||||
BX Trust | ||||||||
Series 2018-GW, Class C, | ||||||||
1-Month LIBOR + 1.22%, 1.33% (B), 05/15/2035 (A) | 5,480,000 | 5,445,867 | ||||||
Series 2018-GW, Class D, | ||||||||
1-Month LIBOR + 1.77%, 1.88% (B), 05/15/2035 (A) | 6,250,000 | 6,211,266 | ||||||
Series 2021-ARIA, Class C, | ||||||||
1-Month LIBOR + 1.65%, 1.75% (B), 10/15/2036 (A) | 13,000,000 | 12,934,866 | ||||||
BXP Trust | ||||||||
Series 2017-CQHP, Class D, | ||||||||
1-Month LIBOR + 2.00%, 2.11% (B), 11/15/2034 (A) | 11,825,000 | 11,110,966 | ||||||
CAMB Commercial Mortgage Trust | ||||||||
Series 2019-LIFE, Class D, | ||||||||
1-Month LIBOR + 1.75%, 1.86% (B), 12/15/2037 (A) | 9,760,000 | 9,748,181 | ||||||
CGMS Commercial Mortgage Trust | ||||||||
Series 2017-MDRB, Class B, | ||||||||
1-Month LIBOR + 1.75%, 1.86% (B), 07/15/2030 (A) | 10,000,000 | 9,972,694 | ||||||
CHT Mortgage Trust | ||||||||
Series 2017-CSMO, Class D, | ||||||||
1-Month LIBOR + 2.25%, 2.36% (B), 11/15/2036 (A) | 17,400,000 | 17,404,289 | ||||||
CIM Trust | ||||||||
Series 2021-R6, Class A1, | ||||||||
1.43% (B), 07/25/2061 (A) | 16,952,996 | 16,530,350 | ||||||
Citigroup Mortgage Loan Trust, Inc. | ||||||||
Series 2014-A, Class A, | ||||||||
4.00% (B), 01/25/2035 (A) | 1,575,568 | 1,594,241 | ||||||
Series 2018-RP1, Class A1, | ||||||||
3.00% (B), 09/25/2064 (A) | 4,579,903 | 4,636,014 | ||||||
Transamerica Funds | Page 7 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
Colony Trust | ||||||||
Series 2019-IKPR, Class C, | ||||||||
1-Month LIBOR + 1.68%, 1.78% (B), 11/15/2038 (A) | $ 14,650,000 | $ 14,604,415 | ||||||
CORE Mortgage Trust | ||||||||
Series 2019-CORE, Class C, | ||||||||
1-Month LIBOR + 1.30%, 1.41% (B), 12/15/2031 (A) | 12,312,000 | 12,141,341 | ||||||
CSMC Trust | ||||||||
Series 2021-RPL2, Class A1A, | ||||||||
1.11% (B), 01/25/2060 (A) | 13,110,430 | 12,616,232 | ||||||
Series 2021-RPL3, Class A1, | ||||||||
2.00% (B), 01/25/2060 (A) | 7,719,882 | 7,703,410 | ||||||
Series 2021-RPL6, Class A1, | ||||||||
2.00% (B), 10/25/2060 (A) | 14,442,631 | 14,272,134 | ||||||
DBCG Mortgage Trust | ||||||||
Series 2017-BBG, Class B, | ||||||||
1-Month LIBOR + 0.85%, 0.96% (B), 06/15/2034 (A) | 12,500,000 | 12,410,844 | ||||||
Series 2017-BBG, Class C, | ||||||||
1-Month LIBOR + 1.00%, 1.11% (B), 06/15/2034 (A) | 2,500,000 | 2,475,470 | ||||||
DBWF Mortgage Trust | ||||||||
Series 2018-GLKS, Class D, | ||||||||
1-Month LIBOR + 2.40%, 2.50% (B), 12/19/2030 (A) | 10,000,000 | 9,924,725 | ||||||
Extended Stay America Trust | ||||||||
Series 2021-ESH, Class C, | ||||||||
1-Month LIBOR + 1.70%, 1.81% (B), 07/15/2038 (A) | 6,132,259 | 6,128,563 | ||||||
Fontainebleau Miami Beach Trust | ||||||||
Series 2019-FBLU, Class D, | ||||||||
3.96% (B), 12/10/2036 (A) | 15,000,000 | 15,013,098 | ||||||
Great Wolf Trust | ||||||||
Series 2019-WOLF, Class C, | ||||||||
1-Month LIBOR + 1.63%, 1.74% (B), 12/15/2036 (A) | 9,960,000 | 9,866,450 | ||||||
GS Mortgage Securities Trust | ||||||||
Series 2013-G1, Class A1, | ||||||||
2.06%, 04/10/2031 (A) | 1,366,697 | 1,369,987 | ||||||
Hilton Orlando Trust | ||||||||
Series 2018-ORL, Class C, | ||||||||
1-Month LIBOR + 1.45%, 1.56% (B), 12/15/2034 (A) | 14,000,000 | 13,912,854 | ||||||
HPLY Trust | ||||||||
Series 2019-HIT, Class C, | ||||||||
1-Month LIBOR + 1.60%, 1.71% (B), 11/15/2036 (A) | 6,872,728 | 6,812,063 | ||||||
MBRT | ||||||||
Series 2019-MBR, Class D, | ||||||||
1-Month LIBOR + 1.95%, 2.06% (B), 11/15/2036 (A) | 10,730,000 | 10,676,164 | ||||||
Metlife Securitization Trust | ||||||||
Series 2017-1A, Class A, | ||||||||
3.00% (B), 04/25/2055 (A) | 5,548,214 | 5,620,342 | ||||||
MFA Trust | ||||||||
Series 2021-RPL1, Class A1, | ||||||||
1.13% (B), 07/25/2060 (A) | 4,568,472 | 4,456,548 | ||||||
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
MHP | ||||||||
Series 2021-STOR, Class C, | ||||||||
1-Month LIBOR + 1.05%, 1.16% (B), 07/15/2038 (A) | $ 3,000,000 | $ 2,981,352 | ||||||
Series 2021-STOR, Class D, | ||||||||
1-Month LIBOR + 1.35%, 1.46% (B), 07/15/2038 (A) | 5,000,000 | 4,962,405 | ||||||
Morgan Stanley Capital I Trust | ||||||||
Series 2017-ASHF, Class D, | ||||||||
1-Month LIBOR + 2.20%, 2.31% (B), 11/15/2034 (A) | 15,700,000 | 15,595,418 | ||||||
Series 2018-SUN, Class C, | ||||||||
1-Month LIBOR + 1.40%, 1.51% (B), 07/15/2035 (A) | 10,850,000 | 10,774,815 | ||||||
Series 2019-BPR, Class B, | ||||||||
1-Month LIBOR + 2.10%, 2.21% (B), 05/15/2036 (A) | 6,720,000 | 6,537,753 | ||||||
Series 2019-NUGS, Class B, | ||||||||
1-Month LIBOR + 1.30%, 2.80% (B), 12/15/2036 (A) | 7,000,000 | 6,991,247 | ||||||
Series 2019-NUGS, Class C, | ||||||||
1-Month LIBOR + 1.50%, 3.00% (B), 12/15/2036 (A) | 5,200,000 | 5,191,675 | ||||||
Mortgage Equity Conversion Asset Trust | ||||||||
Series 2010-1A, Class A, | ||||||||
4.00%, 07/25/2060 (A) | 3,375,238 | 3,321,031 | ||||||
Motel Trust | ||||||||
Series 2021-MTL6, Class C, | ||||||||
1-Month LIBOR + 1.50%, 1.61% (B), 09/15/2038 (A) | 2,750,000 | 2,746,682 | ||||||
MSCG Trust | ||||||||
Series 2018-SELF, Class C, | ||||||||
1-Month LIBOR + 1.18%, 1.29% (B), 10/15/2037 (A) | 11,780,000 | 11,731,505 | ||||||
Series 2018-SELF, Class D, | ||||||||
1-Month LIBOR + 1.65%, 1.76% (B), 10/15/2037 (A) | 9,220,000 | 9,205,127 | ||||||
New Residential Mortgage Loan Trust | ||||||||
Series 2014-1A, Class A, | ||||||||
3.75% (B), 01/25/2054 (A) | 1,216,484 | 1,257,883 | ||||||
Series 2014-3A, Class AFX3, | ||||||||
3.75% (B), 11/25/2054 (A) | 1,571,009 | 1,623,279 | ||||||
Series 2016-4A, Class A1, | ||||||||
3.75% (B), 11/25/2056 (A) | 2,602,880 | 2,715,791 | ||||||
Series 2017-3A, Class A1, | ||||||||
4.00% (B), 04/25/2057 (A) | 4,412,141 | 4,574,210 | ||||||
Series 2017-4A, Class A1, | ||||||||
4.00% (B), 05/25/2057 (A) | 2,660,744 | 2,758,936 | ||||||
Series 2017-5A, Class A1, | ||||||||
1-Month LIBOR + 1.50%, 1.61% (B), 06/25/2057 (A) | 2,684,932 | 2,721,293 | ||||||
Series 2018-1A, Class A1A, | ||||||||
4.00% (B), 12/25/2057 (A) | 2,944,668 | 3,070,011 | ||||||
Series 2018-2A, Class A1, | ||||||||
4.50% (B), 02/25/2058 (A) | 4,425,747 | 4,582,048 | ||||||
Series 2018-RPL1, Class A1, | ||||||||
3.50% (B), 12/25/2057 (A) | 2,792,578 | 2,830,694 | ||||||
Series 2019-2A, Class A1, | ||||||||
4.25% (B), 12/25/2057 (A) | 5,384,004 | 5,568,179 | ||||||
Series 2019-3A, Class A1A, | ||||||||
3.75% (B), 11/25/2058 (A) | 6,386,692 | 6,597,723 | ||||||
Series 2019-4A, Class A1B, | ||||||||
3.50% (B), 12/25/2058 (A) | 5,490,774 | 5,631,257 | ||||||
Series 2019-5A, Class A1B, | ||||||||
3.50% (B), 08/25/2059 (A) | 7,007,196 | 7,139,916 | ||||||
Series 2019-RPL2, Class A1, | ||||||||
3.25% (B), 02/25/2059 (A) | 11,395,478 | 11,611,308 | ||||||
Transamerica Funds | Page 8 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
| Principal | Value | |||||||
| MORTGAGE-BACKED SECURITIES (continued) | ||||||||
One New York Plaza Trust | ||||||||
Series 2020-1NYP, Class A, | ||||||||
1-Month LIBOR + 0.95%, | $ 12,500,000 | $ 12,492,526 | ||||||
RBSSP Resecuritization Trust | ||||||||
Series 2013-2, Class 2A1, | ||||||||
1-Month LIBOR + 0.19%, | 1,548,918 | 1,548,219 | ||||||
SFO Commercial Mortgage Trust | ||||||||
Series 2021-555, Class D, | ||||||||
1-Month LIBOR + 0.00%, | 9,900,000 | 9,888,048 | ||||||
Tharaldson Hotel Portfolio Trust | ||||||||
Series 2018-THL, Class C, | ||||||||
1-Month LIBOR + 1.65%, | 12,151,204 | 12,075,927 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2019-4, Class A1, | ||||||||
2.90% (B), 10/25/2059 (A) | 6,313,523 | 6,408,795 | ||||||
Series 2021-1, Class A1, | ||||||||
2.25% (B), 11/25/2061 (A) | 11,988,182 | 12,024,980 | ||||||
|
| |||||||
Total Mortgage-Backed Securities |
| 642,466,783 | ||||||
|
| |||||||
| U.S. GOVERNMENT AGENCY OBLIGATION - 0.0% (D) | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
12-Month LIBOR + 1.77%, | 296,177 | 296,781 | ||||||
|
| |||||||
Total U.S. Government Agency Obligation |
| 296,781 | ||||||
|
| |||||||
| Shares | Value | |||||||
| OTHER INVESTMENT COMPANY - 0.4% | ||||||||
| Securities Lending Collateral - 0.4% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 0.04% (E) | 13,868,955 | $ 13,868,955 | ||||||
|
| |||||||
Total Other Investment Company |
| 13,868,955 | ||||||
|
| |||||||
| Principal | Value | |||||||
| REPURCHASE AGREEMENT - 1.3% | ||||||||
Fixed Income Clearing Corp., 0.00% (E), dated 01/31/2022, to be repurchased at $47,585,321 on 02/01/2022. Collateralized by a U.S. Government Obligation, 1.75%, due 01/15/2028, and with a value of $48,537,060. | $ 47,585,321 | 47,585,321 | ||||||
|
| |||||||
Total Repurchase Agreement |
| 47,585,321 | ||||||
|
| |||||||
Total Investments |
| 3,610,427,032 | ||||||
Net Other Assets (Liabilities) - (0.5)% | (16,833,554 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ 3,593,593,478 | |||||||
|
| |||||||
FUTURES CONTRACTS:
Long Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation | Unrealized Depreciation | ||||||||||||||||||||||||
2-Year U.S. Treasury Note | 221 | 03/31/2022 | $ 48,349,387 | $ 47,881,031 | $ — | $ (468,356) | ||||||||||||||||||||||||
Short Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation | Unrealized Depreciation | ||||||||||||||||||||||||
5-Year U.S. Treasury Note | (857) | 03/31/2022 | $ (103,902,738) | $ (102,157,078) | $ | 1,745,660 | $ | — | ||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total Futures Contracts | $ | 1,745,660 | $ | (468,356 | ) | |||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Transamerica Funds | Page 9 |
Transamerica Short-Term Bond
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (F)
| Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS |
| |||||||||||||||
Investments |
| |||||||||||||||
Asset-Backed Securities | $ | — | $ | 438,767,614 | $ | — | $ | 438,767,614 | ||||||||
Corporate Debt Securities | — | 2,455,280,810 | — | 2,455,280,810 | ||||||||||||
Foreign Government Obligation | — | 2,245,078 | — | 2,245,078 | ||||||||||||
Loan Assignment | — | 9,915,690 | — | 9,915,690 | ||||||||||||
Mortgage-Backed Securities | — | 642,466,783 | — | 642,466,783 | ||||||||||||
U.S. Government Agency Obligation | — | 296,781 | — | 296,781 | ||||||||||||
Other Investment Company | 13,868,955 | — | — | 13,868,955 | ||||||||||||
Repurchase Agreement | — | 47,585,321 | — | 47,585,321 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 13,868,955 | $ | 3,596,558,077 | $ | — | $ | 3,610,427,032 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts (G) | $ | 1,745,660 | $ | — | $ | — | $ | 1,745,660 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | 1,745,660 | $ | — | $ | — | $ | 1,745,660 | ||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES |
| |||||||||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts (G) | $ | (468,356 | ) | $ | — | $ | — | $ | (468,356 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | (468,356 | ) | $ | — | $ | — | $ | (468,356 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
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 January 31, 2022, the total value of 144A securities is $1,837,381,999, representing 51.1% of the Fund’s net assets. | |||||||||
| (B) | Floating or variable rate securities. The rates disclosed are as of January 31, 2022. 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 $14,079,810, collateralized by cash collateral of $13,868,955 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $507,500. 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) | Percentage rounds to less than 0.1% or (0.1)%. | |||||||||
| (E) | Rates disclosed reflect the yields at January 31, 2022. | |||||||||
| (F) | There were no transfers in or out of Level 3 during the period ended January 31, 2022. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs. | |||||||||
| (G) | Derivative instruments are valued at unrealized appreciation (depreciation). | |||||||||
PORTFOLIO ABBREVIATIONS:
LIBOR | London Interbank Offered Rate | |
SOFR | Secured Overnight Financing Rate |
Transamerica Funds | Page 10 |
Transamerica Short-Term Bond
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2022
(unaudited)
INVESTMENT VALUATION
Transamerica Short-Term Bond (the “Fund”) is a series of the Transamerica Funds.
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, 2022, 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.
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Transamerica Short-Term Bond
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At January 31, 2022
(unaudited)
Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.
U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.
Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.
Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.
Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.
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