Transamerica Bond (IDITX) NPORT-P Transamerica Balanced II (Jan 2023 report)

Transamerica Balanced II

SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS - 59.0%
Aerospace & Defense - 0.9%
General Dynamics Corp.		297		$  69,219
Howmet Aerospace, Inc.		830		33,773
Raytheon Technologies Corp.		5,851		584,222
Textron, Inc.		3,096		225,544
				912,758
Air Freight & Logistics - 0.6%
United Parcel Service, Inc., Class B		3,311		613,297
Airlines - 0.1%
Southwest Airlines Co.		1,674		59,879
Auto Components - 0.1%
Magna International, Inc. (A)		1,585		102,930
Automobiles - 0.8%
Tesla, Inc. (B)		4,843		838,904
Banks - 2.5%
Bank of America Corp.		14,189		503,426
Citigroup, Inc.		3,646		190,394
Fifth Third Bancorp		5,146		186,748
SVB Financial Group (B)		177		53,532
Truist Financial Corp.		7,802		385,341
US Bancorp		11,071		551,336
Wells Fargo & Co.		15,203		712,564
				2,583,341
Beverages - 1.4%
Coca-Cola Co.		12,158		745,528
Constellation Brands, Inc., Class A		1,102		255,135
Monster Beverage Corp. (B)		709		73,793
PepsiCo, Inc.		2,300		393,346
				1,467,802
Biotechnology - 1.9%
AbbVie, Inc.		5,322		786,325
Biogen, Inc. (B)		745		216,721
BioMarin Pharmaceutical, Inc. (B)		563		64,942
Neurocrine Biosciences, Inc. (B)		529		58,682
Regeneron Pharmaceuticals, Inc. (B)		510		386,820
Sarepta Therapeutics, Inc. (B)		575		71,858
Vertex Pharmaceuticals, Inc. (B)		1,145		369,949
				1,955,297
Building Products - 0.5%
Masco Corp.		2,845		151,354
Trane Technologies PLC		2,357		422,186
				573,540
Capital Markets - 1.0%
Ameriprise Financial, Inc.		339		118,691
CME Group, Inc.		1,944		343,427
Morgan Stanley		3,069		298,706
Raymond James Financial, Inc.		1,570		177,049
State Street Corp.		1,604		146,493
				1,084,366
Chemicals - 1.3%
Air Products & Chemicals, Inc.		388		124,358
Celanese Corp.		401		49,403

	Shares		Value
COMMON STOCKS (continued)
Chemicals (continued)
Dow, Inc.		1,688		$   100,183
DuPont de Nemours, Inc.		1,383		102,273
Eastman Chemical Co.		2,116		186,568
Linde PLC		1,419		469,604
LyondellBasell Industries NV, Class A		520		50,279
PPG Industries, Inc.		1,890		246,342
				1,329,010
Commercial Services & Supplies - 0.1%
Cintas Corp.		184		81,648
Communications Equipment - 0.1%
Motorola Solutions, Inc.		541		139,042
Construction Materials - 0.0% (C)
Martin Marietta Materials, Inc.		139		49,990
Consumer Finance - 0.9%
American Express Co.		3,208		561,175
Capital One Financial Corp.		515		61,285
S&P Global, Inc.		867		325,073
				947,533
Containers & Packaging - 0.0% (C)
Avery Dennison Corp.		252		47,739
Diversified Financial Services - 1.2%
Berkshire Hathaway, Inc., Class B (B)		2,958		921,476
Intercontinental Exchange, Inc.		2,744		295,117
				1,216,593
Diversified Telecommunication Services - 0.0% (C)
AT&T, Inc.		945		19,250
Electric Utilities - 0.9%
FirstEnergy Corp.		1,392		57,002
NextEra Energy, Inc.		8,288		618,534
PG&E Corp. (B)		14,731		234,223
			909,759
Electrical Equipment - 0.4%
Eaton Corp. PLC		2,299		372,921
Electronic Equipment, Instruments & Components - 0.1%
Corning, Inc.		2,323		80,399
TE Connectivity Ltd.		602		76,544
				156,943
Energy Equipment & Services - 0.1%
Baker Hughes Co.		3,296		104,615
Entertainment - 0.4%
Netflix, Inc. (B)		1,092		386,415
Walt Disney Co. (B)		823		89,287
				475,702
Equity Real Estate Investment Trusts - 1.6%
Camden Property Trust		380		46,820
Equinix, Inc.		268		197,819
Equity LifeStyle Properties, Inc.		1,843		132,290
Host Hotels & Resorts, Inc.		1,569		29,576
Prologis, Inc.		3,696		477,819
SBA Communications Corp.		1,021		303,778
Sun Communities, Inc.		963		151,056

Transamerica Funds Page    1

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Equity Real Estate Investment Trusts (continued)
UDR, Inc.		3,358		$  143,017
Ventas, Inc.		4,559		236,202
				1,718,377
Food & Staples Retailing - 0.5%
Costco Wholesale Corp.		971		496,317
Food Products - 0.2%
Mondelez International, Inc., Class A		2,857		186,962
Health Care Equipment & Supplies - 1.5%
Abbott Laboratories		3,245		358,735
Baxter International, Inc.		3,928		179,470
Boston Scientific Corp. (B)		6,157		284,761
Dexcom, Inc. (B)		719		76,998
Intuitive Surgical, Inc. (B)		1,340		329,224
Medtronic PLC		2,900		242,701
Zimmer Biomet Holdings, Inc.		649		82,644
				1,554,533
Health Care Providers & Services - 2.0%
Centene Corp. (B)		2,859		217,970
CVS Health Corp.		984		86,809
Elevance Health, Inc.		757		378,492
Humana, Inc.		336		171,931
McKesson Corp.		444		168,134
UnitedHealth Group, Inc.		2,152		1,074,257
				2,097,593
Hotels, Restaurants & Leisure - 1.6%
Booking Holdings, Inc. (B)		171		416,231
Chipotle Mexican Grill, Inc. (B)		187		307,873
Domino’s Pizza, Inc.		235		82,955
Expedia Group, Inc. (B)		1,461		166,992
Marriott International, Inc., Class A		1,200		209,016
McDonald’s Corp.		1,173		313,660
Royal Caribbean Cruises Ltd. (A) (B)		386		25,067
Yum! Brands, Inc.		1,331		173,709
				1,695,503
Household Durables - 0.2%
Lennar Corp., Class A		1,605		164,352
Toll Brothers, Inc.		1,400		83,286
				247,638
Household Products - 1.0%
Colgate-Palmolive Co.		4,565		340,229
Kimberly-Clark Corp.		1,347		175,124
Procter & Gamble Co.		3,590		511,144
				1,026,497
Industrial Conglomerates - 0.7%
Honeywell International, Inc.		3,305		689,026
Insurance - 1.2%
Aon PLC, Class A		380		121,098
Globe Life, Inc.		1,037		125,322
Progressive Corp.		3,956		539,401
Prudential Financial, Inc.		684		71,779
Travelers Cos., Inc.		2,218		423,904
				1,281,504
Interactive Media & Services - 2.9%
Alphabet, Inc., Class A (B)		12,958		1,280,769

	Shares		Value
COMMON STOCKS (continued)
Interactive Media & Services (continued)
Alphabet, Inc., Class C (B)		9,543		$  953,059
Meta Platforms, Inc., Class A (B)		5,109		761,088
				2,994,916
Internet & Direct Marketing Retail - 1.8%
Amazon.com, Inc. (B)		18,107		1,867,375
IT Services - 2.6%
Accenture PLC, Class A		2,047		571,215
Affirm Holdings, Inc. (A) (B)		925		14,976
Block, Inc. (B)		498		40,697
Cognizant Technology Solutions Corp., Class A		1,413		94,318
FleetCor Technologies, Inc. (B)		1,101		229,900
Mastercard, Inc., Class A		2,839		1,052,133
Visa, Inc., Class A (A)		3,295		758,542
				2,761,781
Life Sciences Tools & Services - 1.0%
Danaher Corp.		1,342		354,798
Thermo Fisher Scientific, Inc.		1,283		731,733
				1,086,531
Machinery - 1.2%
Deere & Co.		1,176		497,260
Dover Corp.		973		147,730
Ingersoll Rand, Inc.		719		40,264
Otis Worldwide Corp.		2,768		227,613
Parker-Hannifin Corp.		1,082		352,732
				1,265,599
Media - 0.8%
Charter Communications, Inc., Class A (B)		779		299,378
Comcast Corp., Class A		12,940		509,189
				808,567
Metals & Mining - 0.2%
Freeport-McMoRan, Inc.		2,172		96,915
Nucor Corp.		672		113,581
				210,496
Multi-Utilities - 0.8%
Ameren Corp.		1,811		157,321
CenterPoint Energy, Inc.		6,166		185,720
Dominion Energy, Inc.		573		36,466
Public Service Enterprise Group, Inc.		3,689		228,460
Sempra Energy		1,696		271,920
				879,887
Multiline Retail - 0.1%
Target Corp.		314		54,052
Oil, Gas & Consumable Fuels - 2.9%
Chevron Corp.		1,449		252,155
ConocoPhillips		5,344		651,273
Coterra Energy, Inc.		2,186		54,716
Diamondback Energy, Inc.		2,629		384,150
EOG Resources, Inc.		2,877		380,483
Exxon Mobil Corp.		10,219		1,185,506
Marathon Oil Corp.		3,661		100,568
Phillips 66		427		42,815
				3,051,666

Transamerica Funds Page    2

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Pharmaceuticals - 2.3%
Bristol-Myers Squibb Co.		8,393		$   609,751
Eli Lilly & Co.		1,765		607,425
Johnson & Johnson		3,266		533,730
Merck & Co., Inc.		4,035		433,399
Pfizer, Inc.		4,044		178,583
				2,362,888
Professional Services - 0.2%
Booz Allen Hamilton Holding Corp.		539		51,011
Leidos Holdings, Inc.		1,577		155,871
				206,882
Road & Rail - 0.7%
CSX Corp.		3,775		116,723
Norfolk Southern Corp.		1,266		311,195
Uber Technologies, Inc. (B)		2,105		65,108
Union Pacific Corp.		1,125		229,714
				722,740
Semiconductors & Semiconductor Equipment - 3.6%
Advanced Micro Devices, Inc. (B)		5,159		387,699
Analog Devices, Inc.		2,953		506,351
Broadcom, Inc.		193		112,907
Lam Research Corp.		981		490,598
Microchip Technology, Inc.		1,534		119,069
NVIDIA Corp.		3,836		749,439
NXP Semiconductors NV		2,948		543,346
Qorvo, Inc. (B)		273		29,664
QUALCOMM, Inc.		207		27,575
Teradyne, Inc.		1,542		156,821
Texas Instruments, Inc.		3,790		671,626
				3,795,095
Software - 5.0%
Adobe, Inc. (B)		1,443		534,401
Cadence Design Systems, Inc. (B)		479		87,575
DocuSign, Inc. (B)		683		41,417
Intuit, Inc.		933		394,351
Microsoft Corp.		14,976		3,711,202
Oracle Corp.		2,784		246,273
Salesforce, Inc. (B)		276		46,360
Workday, Inc., Class A (B)		893		162,017
				5,223,596
Specialty Retail - 2.1%
AutoNation, Inc. (B)		788		99,855
AutoZone, Inc. (B)		137		334,123
Best Buy Co., Inc.		2,664		236,350
Burlington Stores, Inc. (B)		550		126,407
Home Depot, Inc.		1,141		369,878
Lowe’s Cos., Inc.		3,080		641,410
O’Reilly Automotive, Inc. (B)		307		243,251
TJX Cos., Inc.		2,395		196,055
				2,247,329
Technology Hardware, Storage & Peripherals - 4.0%
Apple, Inc.		27,273		3,935,221
Seagate Technology Holdings PLC		3,458		234,383
				4,169,604
Textiles, Apparel & Luxury Goods - 0.3%
NIKE, Inc., Class B		2,788		354,996

	Shares		Value
COMMON STOCKS (continued)
Tobacco - 0.4%
Altria Group, Inc.		3,220		$   145,029
Philip Morris International, Inc.		2,173		226,513
				371,542
Wireless Telecommunication Services - 0.3%
T-Mobile US, Inc. (B)		2,015		300,860
Total Common Stocks (Cost $42,075,249)				61,773,211
PREFERRED STOCKS - 0.1%
Banks - 0.1%
Citigroup Capital XIII,
3-Month LIBOR + 6.37%, 11.17% (D)		2,950		84,724
Electric Utilities - 0.0% (C)
SCE Trust III,
Series H, Fixed until 03/15/2024, 5.75% (A) (D)		320		7,152
Total Preferred Stocks (Cost $94,058)				91,876
	Principal		Value
ASSET-BACKED SECURITIES - 2.5%
Accelerated LLC
Series 2021-1H, Class A,
1.35%, 10/20/2040 (E)		$  47,534		43,357
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029 (E)		16,782		16,255
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (E)		10,468		10,062
CIFC Funding Ltd.
Series 2013-2A, Class A1L2,
3-Month LIBOR + 1.00%, 5.79% (D), 10/18/2030 (E)		347,764		345,200
GoodLeap Sustainable Home Solutions Trust
Series 2021-4GS, Class A,
1.93%, 07/20/2048 (E)		82,620		63,087
Series 2022-1GS, Class A,
2.70%, 01/20/2049 (E)		227,167		188,248
JGWPT XXVI LLC
Series 2012-2A, Class A,
3.84%, 10/15/2059 (E)		110,486		101,073
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067 (E)		114,718		101,001
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043 (E)		6,768		6,644
New Residential Advance Receivables Trust
Series 2020-T1, Class AT1,
1.43%, 08/15/2053 (E)		330,000		319,931
NRZ Advance Receivables Trust
Series 2020-T2, Class AT2,
1.48%, 09/15/2053 (E)		330,000		319,431

Transamerica Funds Page    3

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Octagon Investment Partners 33 Ltd.
Series 2017-1A, Class A1,
3-Month LIBOR + 1.19%, 6.00% (D), 01/20/2031 (E)		$  200,000		$  198,592
Orange Lake Timeshare Trust
Series 2016-A, Class A,
2.61%, 03/08/2029 (E)		26,820		25,802
Series 2019-A, Class A,
3.06%, 04/09/2038 (E)		51,434		49,506
Palmer Square CLO Ltd.
Series 2015-2A, Class A1R2,
3-Month LIBOR + 1.10%, 5.91% (D), 07/20/2030 (E)		237,311		235,534
Sierra Timeshare Receivables Funding LLC
Series 2021-1A, Class A,
0.99%, 11/20/2037 (E)		71,166		66,301
Towd Point Mortgage Trust
Series 2017-1, Class A1,
2.75% (D), 10/25/2056 (E)		12,074		11,894
Series 2017-3, Class A1,
2.75% (D), 07/25/2057 (E)		11,613		11,307
Series 2017-6, Class A1,
2.75% (D), 10/25/2057 (E)		23,162		22,125
Series 2018-1, Class A1,
3.00% (D), 01/25/2058 (E)		37,183		35,986
Series 2018-3, Class A1,
3.75% (D), 05/25/2058 (E)		88,462		84,910
Series 2018-4, Class A1,
3.00% (D), 06/25/2058 (E)		129,189		120,314
Series 2020-4, Class A1,
1.75%, 10/25/2060 (E)		121,585		108,925
Trafigura Securitisation Finance PLC
Series 2021-1A, Class A2,
1.08%, 01/15/2025 (E)		130,000		117,902
Welk Resorts LLC
Series 2017-AA, Class A,
2.82%, 06/15/2033 (E)		21,363		21,268
Total Asset-Backed Securities (Cost $2,796,707)				2,624,655
CORPORATE DEBT SECURITIES - 14.2%
Aerospace & Defense - 0.2%
Boeing Co.
3.50%, 03/01/2039		91,000		70,674
5.15%, 05/01/2030		85,000		85,484
Huntington Ingalls Industries, Inc.
2.04%, 08/16/2028		108,000		91,184
				247,342
Air Freight & Logistics - 0.1%
GXO Logistics, Inc.
2.65%, 07/15/2031		153,000		119,893
Airlines - 0.1%
American Airlines Pass-Through Trust
3.20%, 12/15/2029		45,460		40,433
United Airlines Pass-Through Trust
3.75%, 03/03/2028		53,498		49,873
				90,306

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Auto Components - 0.1%
Aptiv PLC / Aptiv Corp.
3.25%, 03/01/2032		$  54,000		$  46,499
BorgWarner, Inc.
3.38%, 03/15/2025		36,000		34,762
				81,261
Automobiles - 0.3%
Ford Motor Co.
4.35%, 12/08/2026 (A)		63,000		61,318
General Motors Co.
6.25%, 10/02/2043		15,000		14,877
Stellantis Finance US, Inc.
6.38%, 09/12/2032 (E)		200,000		208,202
				284,397
Banks - 1.8%
Bank of America Corp.
Fixed until 04/24/2027, 3.71% (D), 04/24/2028		71,000		67,617
Fixed until 04/27/2032, 4.57% (D), 04/27/2033		196,000		188,897
Barclays PLC
Fixed until 11/02/2025, 7.33% (D), 11/02/2026		203,000		212,998
Citigroup, Inc.
Fixed until 10/27/2027, 3.52% (D), 10/27/2028		219,000		204,791
Commerzbank AG
8.13%, 09/19/2023 (E)		255,000		257,338
Intesa Sanpaolo SpA
5.02%, 06/26/2024 (E)		65,000		63,395
Fixed until 11/21/2032, 8.25% (D), 11/21/2033 (E)		200,000		218,262
JPMorgan Chase & Co.
Fixed until 04/22/2026, 1.58% (D), 04/22/2027		106,000		95,151
Fixed until 02/01/2027, 3.78% (D), 02/01/2028		59,000		56,629
Fixed until 09/14/2032, 5.72% (D), 09/14/2033 (A)		175,000		180,043
Truist Financial Corp.
5.12% (D), 01/26/2034		129,000		130,294
Wells Fargo & Co.
Fixed until 07/25/2027, 4.81% (D), 07/25/2028		172,000		171,362
Fixed until 06/15/2024 (F), 5.90% (D)		40,000		39,050
				1,885,827
Beverages - 0.1%
Anheuser-Busch InBev Worldwide, Inc.
4.44%, 10/06/2048		90,000		82,559
Constellation Brands, Inc.
3.15%, 08/01/2029		63,000		57,382
3.70%, 12/06/2026		16,000		15,436
				155,377
Biotechnology - 0.2%
AbbVie, Inc.
3.20%, 05/14/2026		47,000		45,068
4.05%, 11/21/2039		40,000		35,895
Amgen, Inc.
2.00%, 01/15/2032		40,000		32,309

Transamerica Funds Page    4

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Biotechnology (continued)
CSL Finance PLC
4.63%, 04/27/2042 (E)		$  48,000		$  45,851
Gilead Sciences, Inc.
4.15%, 03/01/2047		24,000		21,280
				180,403
Building Products - 0.3%
Carlisle Cos., Inc.
2.20%, 03/01/2032		77,000		61,298
3.75%, 12/01/2027		72,000		68,949
Carrier Global Corp.
2.72%, 02/15/2030		42,000		36,607
Owens Corning
7.00%, 12/01/2036		114,000		129,469
				296,323
Capital Markets - 0.8%
Credit Suisse Group AG
Fixed until 08/12/2032, 6.54% (D), 08/12/2033 (E)		262,000		250,491
Deutsche Bank AG
Fixed until 09/18/2030, 3.55% (D), 09/18/2031		150,000		130,035
Goldman Sachs Group, Inc.
Fixed until 02/24/2032, 3.10% (D), 02/24/2033		149,000		127,295
Morgan Stanley
Fixed until 12/10/2025, 0.99% (D), 12/10/2026		35,000		31,125
Fixed until 07/20/2032, 4.89% (D), 07/20/2033		77,000		76,068
Fixed until 02/01/2028, 5.12% (D), 02/01/2029		69,000		69,639
Northern Trust Corp.
6.13%, 11/02/2032		118,000		129,434
				814,087
Chemicals - 0.1%
International Flavors & Fragrances, Inc.
2.30%, 11/01/2030 (E)		74,000		61,224
Commercial Services & Supplies - 0.4%
ADT Security Corp.
4.13%, 08/01/2029 (E)		79,000		70,253
Ashtead Capital, Inc.
4.25%, 11/01/2029 (E)		200,000		186,268
Triton Container International Ltd. / TAL International Container Corp.
3.25%, 03/15/2032		160,000		130,298
				386,819
Construction & Engineering - 0.0% (C)
Quanta Services, Inc.
2.90%, 10/01/2030		56,000		47,973
Consumer Finance - 0.5%
Ally Financial, Inc.
8.00%, 11/01/2031		110,000		120,465
BMW US Capital LLC
2.80%, 04/11/2026 (E)		65,000		61,624
General Motors Financial Co., Inc.
5.00%, 04/09/2027		70,000		69,242

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Finance (continued)
Nissan Motor Acceptance Co. LLC
2.45%, 09/15/2028 (E)		$  100,000		$  81,007
Volkswagen Group of America Finance LLC
1.63%, 11/24/2027 (E)		200,000		172,252
				504,590
Containers & Packaging - 0.1%
Sonoco Products Co.
2.25%, 02/01/2027		64,000		57,823
Diversified Financial Services - 0.6%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.85%, 10/29/2041		160,000		124,291
4.45%, 04/03/2026		150,000		145,276
Aviation Capital Group LLC
1.95%, 01/30/2026 (E)		49,000		43,565
5.50%, 12/15/2024 (E)		147,000		145,519
Equitable Holdings, Inc.
5.59%, 01/11/2033		127,000		129,690
				588,341
Diversified Telecommunication Services - 0.2%
Sprint Capital Corp.
6.88%, 11/15/2028		24,000		25,669
Verizon Communications, Inc.
1.68%, 10/30/2030		177,000		142,348
2.99%, 10/30/2056		105,000		69,407
				237,424
Electric Utilities - 0.5%
Appalachian Power Co.
3.40%, 06/01/2025		66,000		63,883
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		34,000		34,923
DTE Electric Co.
4.30%, 07/01/2044		101,000		92,237
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		108,000		86,741
Duke Energy Progress LLC
3.60%, 09/15/2047		64,000		50,900
Entergy Arkansas LLC
3.70%, 06/01/2024		48,000		47,366
Oncor Electric Delivery Co. LLC
5.30%, 06/01/2042		20,000		21,055
Pacific Gas & Electric Co.
2.50%, 02/01/2031		69,000		55,540
PacifiCorp
3.60%, 04/01/2024		61,000		60,109
5.75%, 04/01/2037		20,000		21,420
Public Service Electric & Gas Co.
3.00%, 05/15/2025		49,000		47,252
				581,426
Electronic Equipment, Instruments & Components - 0.2%
Arrow Electronics, Inc.
2.95%, 02/15/2032		85,000		70,319
Keysight Technologies, Inc.
4.60%, 04/06/2027		130,000		129,902
Sensata Technologies, Inc.
4.38%, 02/15/2030 (E)		50,000		45,270
				245,491

Transamerica Funds Page    5

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Energy Equipment & Services - 0.1%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (E)		$  90,000		$  85,746
Schlumberger Investment SA
3.65%, 12/01/2023		26,000		25,701
				111,447
Equity Real Estate Investment Trusts - 1.1%
Broadstone Net Lease LLC
2.60%, 09/15/2031		123,000		93,647
Corporate Office Properties LP
2.00%, 01/15/2029		25,000		19,770
2.25%, 03/15/2026		35,000		31,638
Invitation Homes Operating Partnership LP
4.15%, 04/15/2032		48,000		43,912
Office Properties Income Trust
3.45%, 10/15/2031 (A)		59,000		41,314
Physicians Realty LP
2.63%, 11/01/2031		94,000		76,963
Realty Income Corp.
5.63%, 10/13/2032		37,000		39,125
SBA Tower Trust
1.63%, 05/15/2051 (E)		110,000		95,920
1.88%, 07/15/2050 (E)		56,000		50,275
2.84%, 01/15/2050 (E)		300,000		283,486
Simon Property Group LP
2.20%, 02/01/2031 (A)		73,000		60,053
Ventas Realty LP
3.25%, 10/15/2026		86,000		80,882
VICI Properties LP
4.95%, 02/15/2030 (A)		118,000		114,032
Weyerhaeuser Co.
4.00%, 04/15/2030		122,000		114,869
				1,145,886
Food & Staples Retailing - 0.2%
7-Eleven, Inc.
1.80%, 02/10/2031 (E)		123,000		97,848
Sysco Corp.
3.30%, 07/15/2026		104,000		99,919
				197,767
Food Products - 0.4%
Bunge Ltd. Finance Corp.
2.75%, 05/14/2031		94,000		80,300
Cargill, Inc.
5.13%, 10/11/2032 (E)		49,000		50,812
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.
3.00%, 02/02/2029 (E)		44,000		37,767
Pilgrim’s Pride Corp.
3.50%, 03/01/2032 (E)		102,000		83,003
Viterra Finance BV
4.90%, 04/21/2027 (E)		200,000		191,975
				443,857
Health Care Equipment & Supplies - 0.3%
Alcon Finance Corp.
2.75%, 09/23/2026 (E)		200,000		185,654
GE HealthCare Technologies, Inc.
5.86%, 03/15/2030 (E)		100,000		105,912
				291,566

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Providers & Services - 0.5%
Centene Corp.
3.00%, 10/15/2030		$  80,000		$  68,400
3.38%, 02/15/2030		60,000		52,747
Cigna Corp.
2.40%, 03/15/2030		61,000		52,523
CVS Health Corp.
2.70%, 08/21/2040		50,000		35,942
Elevance Health, Inc.
2.25%, 05/15/2030		61,000		51,922
5.13%, 02/15/2053		49,000		48,896
HCA, Inc.
4.13%, 06/15/2029		28,000		26,557
5.25%, 04/15/2025		16,000		16,009
5.50%, 06/15/2047		50,000		47,295
Laboratory Corp. of America Holdings
2.95%, 12/01/2029		51,000		45,585
Molina Healthcare, Inc.
4.38%, 06/15/2028 (E)		16,000		14,777
UnitedHealth Group, Inc.
6.05%, 02/15/2063		71,000		82,490
				543,143
Hotels, Restaurants & Leisure - 0.2%
Expedia Group, Inc.
2.95%, 03/15/2031		6,000		5,034
3.80%, 02/15/2028		65,000		61,331
Hyatt Hotels Corp.
1.80%, 10/01/2024		41,000		38,857
Warnermedia Holdings, Inc.
5.05%, 03/15/2042 (E)		114,000		96,885
				202,107
Industrial Conglomerates - 0.1%
General Electric Co.
4.13%, 10/09/2042		48,000		40,843
4.50%, 03/11/2044		79,000		72,538
				113,381
Insurance - 0.5%
Aon Corp. / Aon Global Holdings PLC
5.00%, 09/12/2032 (A)		107,000		109,018
Global Atlantic Finance Co.
3.13%, 06/15/2031 (E)		159,000		122,289
Ohio National Financial Services, Inc.
5.80%, 01/24/2030 (E)		224,000		212,699
6.63%, 05/01/2031 (E)		45,000		43,804
Prudential Financial, Inc.
Fixed until 07/01/2030, 3.70% (D), 10/01/2050		94,000		80,931
				568,741
Interactive Media & Services - 0.3%
Baidu, Inc.
4.38%, 05/14/2024 (A)		200,000		197,772
Tencent Holdings Ltd.
3.28%, 04/11/2024 (E)		97,000		95,510
				293,282
IT Services - 0.0% (C)
Rackspace Technology Global, Inc.
3.50%, 02/15/2028 (E)		78,000		47,260
Machinery - 0.1%
CNH Industrial Capital LLC
5.45%, 10/14/2025		95,000		96,504

Transamerica Funds Page    6

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media - 0.1%
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		$   44,000		$   34,554
Clear Channel Outdoor Holdings, Inc.
5.13%, 08/15/2027 (E)		35,000		31,957
Comcast Corp.
2.94%, 11/01/2056		17,000		11,511
NBCUniversal Media LLC
4.45%, 01/15/2043		24,000		22,378
Paramount Global
4.20%, 05/19/2032		44,000		37,823
				138,223
Metals & Mining - 0.4%
Anglo American Capital PLC
4.50%, 03/15/2028 (A) (E)		200,000		194,938
ArcelorMittal SA
6.55%, 11/29/2027		101,000		105,342
Freeport-McMoRan, Inc.
4.55%, 11/14/2024		105,000		103,757
Glencore Funding LLC
2.63%, 09/23/2031 (E)		82,000		68,252
				472,289
Multi-Utilities - 0.1%
Black Hills Corp.
4.25%, 11/30/2023		71,000		70,555
CMS Energy Corp.
3.88%, 03/01/2024		17,000		16,726
4.88%, 03/01/2044		26,000		24,693
				111,974
Oil, Gas & Consumable Fuels - 1.0%
Boardwalk Pipelines LP
3.40%, 02/15/2031		46,000		40,983
Chevron USA, Inc.
3.25%, 10/15/2029		47,000		44,252
Energy Transfer LP
4.90%, 02/01/2024		41,000		40,838
5.15%, 03/15/2045		75,000		67,442
5.55%, 02/15/2028		43,000		43,698
5.95%, 10/01/2043		28,000		27,632
Enterprise Products Operating LLC
4.25%, 02/15/2048		104,000		89,243
Kinder Morgan Energy Partners LP
4.15%, 02/01/2024		52,000		51,533
Occidental Petroleum Corp.
5.55%, 03/15/2026		62,000		62,620
ONEOK, Inc.
6.10%, 11/15/2032		100,000		104,898
Petroleos Mexicanos
6.84%, 01/23/2030		139,000		120,591
7.69%, 01/23/2050 (A)		17,000		12,676
Pioneer Natural Resources Co.
2.15%, 01/15/2031		90,000		74,291
Plains All American Pipeline LP / PAA Finance Corp.
3.55%, 12/15/2029		52,000		46,560
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028		41,000		39,547
Shell International Finance BV
2.50%, 09/12/2026		103,000		96,892
3.75%, 09/12/2046		30,000		25,471

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Williams Cos., Inc.
5.40%, 03/04/2044		$   28,000		$   27,249
				1,016,416
Pharmaceuticals - 0.2%
Astrazeneca Finance LLC
1.20%, 05/28/2026		40,000		36,084
AstraZeneca PLC
4.38%, 08/17/2048		34,000		32,429
Royalty Pharma PLC
2.20%, 09/02/2030		77,000		62,609
Viatris, Inc.
2.30%, 06/22/2027		76,000		66,921
				198,043
Professional Services - 0.1%
Equifax, Inc.
2.60%, 12/01/2024		52,000		49,849
5.10%, 12/15/2027		79,000		80,065
				129,914
Road & Rail - 0.3%
Avolon Holdings Funding Ltd.
2.88%, 02/15/2025 (E)		121,000		113,438
5.50%, 01/15/2026 (E)		47,000		46,150
Norfolk Southern Corp.
4.55%, 06/01/2053		141,000		130,718
				290,306
Semiconductors & Semiconductor Equipment - 0.7%
Advanced Micro Devices, Inc.
3.92%, 06/01/2032 (A)		115,000		109,654
Broadcom, Inc.
1.95%, 02/15/2028 (E)		31,000		26,861
3.50%, 02/15/2041 (E)		57,000		43,420
KLA Corp.
3.30%, 03/01/2050 (A)		80,000		61,651
Microchip Technology, Inc.
0.98%, 09/01/2024		70,000		65,523
NXP BV / NXP Funding LLC / NXP USA, Inc.
3.25%, 11/30/2051		39,000		26,451
3.40%, 05/01/2030		75,000		67,023
QUALCOMM, Inc.
3.25%, 05/20/2027		48,000		46,188
3.25%, 05/20/2050 (A)		65,000		50,666
Skyworks Solutions, Inc.
1.80%, 06/01/2026		39,000		34,821
TSMC Global Ltd.
1.38%, 09/28/2030 (E)		200,000		160,006
				692,264
Software - 0.4%
Crowdstrike Holdings, Inc.
3.00%, 02/15/2029 (A)		15,000		12,873
Infor, Inc.
1.75%, 07/15/2025 (E)		68,000		61,871
Oracle Corp.
3.65%, 03/25/2041		57,000		44,948
6.90%, 11/09/2052		91,000		104,583
Take-Two Interactive Software, Inc.
3.55%, 04/14/2025		114,000		110,374
Workday, Inc.
3.50%, 04/01/2027		104,000		99,382
				434,031

Transamerica Funds Page    7

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Specialty Retail - 0.1%
Lowe’s Cos., Inc.
3.75%, 04/01/2032 (A)		$   80,000		$   74,002
Technology Hardware, Storage & Peripherals - 0.0% (C)
Apple, Inc.
2.65%, 05/11/2050		40,000		28,169
Western Digital Corp.
2.85%, 02/01/2029		26,000		21,192
				49,361
Tobacco - 0.2%
BAT Capital Corp.
2.26%, 03/25/2028		128,000		109,858
Philip Morris International, Inc.
5.63%, 11/17/2029		77,000		80,244
				190,102
Wireless Telecommunication Services - 0.2%
Sprint LLC
7.88%, 09/15/2023		42,000		42,626
T-Mobile USA, Inc.
3.88%, 04/15/2030		135,000		126,082
				168,708
Total Corporate Debt Securities (Cost $16,227,610)				14,886,901
FOREIGN GOVERNMENT OBLIGATIONS - 0.4%
Colombia - 0.2%
Colombia Government International Bonds
4.50%, 01/28/2026		200,000		190,909
Mexico - 0.1%
Mexico Government International Bonds
3.75%, 01/11/2028		116,000		111,047
Peru - 0.1%
Peru Government International Bonds
7.35%, 07/21/2025		100,000		105,230
Total Foreign Government Obligations (Cost $430,111)				407,186
MORTGAGE-BACKED SECURITIES - 2.2%
Alternative Loan Trust
Series 2007-22, Class 2A16,
6.50%, 09/25/2037		141,432		59,999
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (E)		38,580		37,725
CIM Trust
Series 2021-R6, Class A1,
1.43% (D), 07/25/2061 (E)		174,200		155,546
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
3.75%, 03/11/2047		21,150		20,840
Series 2014-GC19, Class A4,
4.02%, 03/11/2047		65,000		63,897
Series 2015-GC27, Class B,
3.77%, 02/10/2048		157,700		145,546
Citigroup Mortgage Loan Trust, Inc.
Series 2018-RP1, Class A1,
3.00% (D), 09/25/2064 (E)		27,844		26,556

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
COMM Mortgage Trust
Series 2013-CR11, Class AM,
4.72% (D), 08/10/2050		$  120,000		$  118,391
Series 2015-3BP, Class A,
3.18%, 02/10/2035 (E)		310,000		290,428
CSMC Trust
Series 2021-RPL2, Class A1A,
1.11% (D), 01/25/2060 (E)		149,434		125,058
Series 2021-RPL6, Class A1,
2.00% (D), 10/25/2060 (E)		130,391		116,312
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 (E)		150,000		141,393
GMACM Mortgage Loan Trust
Series 2005-AR1, Class 3A,
0.00% (D), 03/18/2035		10,680		9,458
Impac CMB Trust
Series 2004-6, Class 1A1,
1-Month LIBOR + 0.80%, 5.31% (D), 10/25/2034		12,551		12,032
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.22% (D), 08/25/2037		84,950		64,242
Merrill Lynch Mortgage Investors Trust
Series 2003-F, Class A1,
1-Month LIBOR + 0.64%, 5.15% (D), 10/25/2028		6,228		5,806
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% (D), 12/25/2052 (E)		26,296		24,370
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (D), 01/25/2054 (E)		13,018		12,321
Series 2014-2A, Class A3,
3.16% (D), 05/25/2054 (E)		32,901		30,332
Series 2014-3A, Class AFX3,
3.75% (D), 11/25/2054 (E)		24,820		23,108
Series 2016-3A, Class A1B,
3.25% (D), 09/25/2056 (E)		21,293		19,666
Series 2017-1A, Class A1,
4.00% (D), 02/25/2057 (E)		45,423		43,108
Series 2017-3A, Class A1,
4.00% (D), 04/25/2057 (E)		76,897		73,259
Series 2017-4A, Class A1,
4.00% (D), 05/25/2057 (E)		26,160		24,534
Series 2018-RPL1, Class A1,
3.50% (D), 12/25/2057 (E)		29,185		27,863
Series 2019-4A, Class A1B,
3.50% (D), 12/25/2058 (E)		98,301		91,518
Series 2019-5A, Class A1B,
3.50% (D), 08/25/2059 (E)		86,446		81,253
One Market Plaza Trust
Series 2017-1MKT, Class A,
3.61%, 02/10/2032 (E)		195,000		183,254
Structured Asset Mortgage Investments II Trust
Series 2003-AR4, Class A1,
1-Month LIBOR + 0.70%, 5.17% (D), 01/19/2034		30,738		29,010
Towd Point Mortgage Trust
Series 2021-1, Class A1,
2.25% (D), 11/25/2061 (E)		157,716		143,289
Series 2023-1, Class A1,
3.75%, 01/25/2063 (E)		140,000		133,462
Total Mortgage-Backed Securities (Cost $2,597,238)				2,333,576

Transamerica Funds Page    8

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS - 9.8%
Federal Home Loan Mortgage Corp.
12-Month LIBOR + 1.90%, 2.40% (D), 02/01/2041		$  699		$  688
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
1.38%, 06/25/2030		245,000		203,397
2.89%, 06/25/2027		43,613		42,865
3.01%, 07/25/2025		188,000		181,942
3.06% (D), 07/25/2023		50,000		49,552
3.06% (D), 08/25/2024		394,170		384,604
3.53% (D), 10/25/2023		109,939		108,750
Federal National Mortgage Association
12-Month LIBOR + 1.75%, 2.25% (D), 03/01/2041		443		435
3.33% (D), 10/25/2023		18,823		18,490
3.50%, 11/01/2028 - 01/01/2029		31,061		30,424
4.00%, 10/01/2025 - 07/01/2026		5,577		5,538
4.50%, 02/01/2025		419		423
5.00%, 04/01/2039 - 11/01/2039		58,112		59,365
5.50%, 09/01/2036 - 12/01/2041		102,683		107,523
6.00%, 05/01/2038 - 04/01/2040		58,406		61,502
6.50%, 05/01/2040		15,921		16,880
Government National Mortgage Association, Interest Only STRIPS
Series 2012-120, Class IO,
0.64% (D), 02/16/2053		71,242		1,142
Tennessee Valley Authority
5.88%, 04/01/2036		79,000		91,116
Uniform Mortgage-Backed Security
2.00%, TBA (G)		1,477,000		1,287,361
2.50%, TBA (G)		2,607,000		2,301,085
3.00%, TBA (G)		1,819,000		1,661,281
3.50%, TBA (G)		1,898,000		1,787,815
4.00%, TBA (G)		1,188,000		1,145,724
4.50%, TBA (G)		712,000		702,461
Total U.S. Government Agency Obligations (Cost $10,331,121)				10,250,363
U.S. GOVERNMENT OBLIGATIONS - 10.9%
U.S. Treasury - 10.1%
U.S. Treasury Bonds
1.25%, 05/15/2050		518,000		301,634
1.88%, 02/15/2051 - 11/15/2051		626,000		426,745
2.00%, 02/15/2050		301,000		213,216
2.25%, 08/15/2046 - 02/15/2052		377,000		282,159
2.38%, 02/15/2042 - 05/15/2051		454,000		362,174
2.50%, 02/15/2045 - 05/15/2046		355,000		284,303
2.75%, 08/15/2042 - 11/15/2047		632,500		533,373
2.88%, 08/15/2045 - 05/15/2049		356,300		305,079
3.00%, 05/15/2042 - 08/15/2052		330,700		290,713
3.13%, 02/15/2042 - 05/15/2048		293,500		266,944
3.63%, 02/15/2044		242,300		235,429
4.00%, 11/15/2052		115,000		122,026
5.25%, 02/15/2029		309,000		335,108
U.S. Treasury Notes
0.13%, 05/31/2023		93,000		91,620
0.25%, 08/31/2025 (A)		66,000		59,977
0.63%, 05/15/2030 - 08/15/2030		472,000		384,228

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury (continued)
U.S. Treasury Notes (continued)
0.88%, 06/30/2026		$   199,000		$   180,352
1.13%, 02/15/2031		434,000		364,475
1.25%, 11/30/2026		243,000		221,291
1.38%, 11/15/2031		397,000		333,806
1.50%, 08/15/2026 - 02/15/2030		406,300		369,288
1.63%, 02/15/2026 - 05/15/2031		747,900		668,877
1.88%, 02/15/2032		462,100		404,374
2.00%, 02/15/2025		93,000		89,011
2.13%, 05/15/2025 (A)		110,000		105,265
2.25%, 11/15/2025 - 11/15/2027		315,300		298,892
2.38%, 02/29/2024		119,000		116,053
2.50%, 08/15/2023 - 05/31/2024		462,000		455,857
2.75%, 05/15/2025 - 08/15/2032		830,000		787,536
2.88%, 08/15/2028 - 05/15/2032		680,200		647,039
3.13%, 11/15/2028		195,500		190,185
4.13%, 09/30/2027 - 11/15/2032		772,800		809,346
				10,536,375
U.S. Treasury Inflation-Protected Securities - 0.8%
U.S. Treasury Inflation-Protected Indexed Bonds
0.25%, 02/15/2050		196,863		141,740
1.75%, 01/15/2028		102,329		103,906
2.50%, 01/15/2029		378,178		401,685
U.S. Treasury Inflation-Protected Indexed Notes
0.13%, 07/15/2030		203,210		186,457
				833,788
Total U.S. Government Obligations (Cost $12,692,920)				11,370,163
COMMERCIAL PAPER - 7.5%
Banks - 3.1%
Australia & New Zealand Banking Group Ltd.
5.16% (H), 07/10/2023		350,000		342,734
Bedford Row Funding Corp.
4.65% (H), 02/07/2023		475,000		474,588
BofA Securities, Inc.
5.21% (H), 07/13/2023		500,000		488,848
Lloyds Bank PLC
4.65% (H), 02/03/2023		450,000		449,837
Mackinac Funding Co. LLC
4.81% (H), 03/01/2023		485,000		483,205
Macquarie Bank Ltd.
4.62% (H), 02/28/2023		500,000		498,228
Svenska Handelsbanken AB
5.06% (H), 07/24/2023		500,000		488,308
				3,225,748
Diversified Financial Services - 3.2%
Atlantic Asset Securitization LLC
4.74% (H), 02/15/2023		500,000		499,062
Chariot Funding LLC
5.15% (H), 07/13/2023		450,000		439,972
Collateralized Commercial Paper V Co. LLC
4.72% (H), 02/01/2023		450,000		449,946
Glencove Funding LLC
4.74% (H), 02/03/2023		450,000		449,837
Lexington Parker Capital Co. LLC
4.77% (H), 03/03/2023		450,000		448,232
Mont Blanc Capital Corp.
4.74% (H), 02/21/2023		250,000		249,340

Transamerica Funds Page    9

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

		Principal		Value
COMMERCIAL PAPER (continued)
Diversified Financial Services (continued)
Sheffield Receivables Co. LLC
4.83% (H), 03/06/2023			$   500,000		$   497,818
Victory Receivables Corp.
4.83% (H), 02/09/2023			333,000		332,627
					3,366,834
Food Products - 0.5%
Britannia Funding Co. LLC
4.79% (H), 02/07/2023			475,000		474,586
Health Care Providers & Services - 0.4%
Columbia Funding Co. LLC
4.72% (H), 03/01/2023			430,000		428,422
Software - 0.3%
Manhattan Asset Funding Co. LLC
5.20% (H), 07/10/2023			350,000		342,320
Total Commercial Paper (Cost $7,837,870)					7,837,910
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.9%
U.S. Treasury Bills
4.28% (H), 03/09/2023			232,000		230,964
4.61% (H), 06/08/2023			61,000		60,018
4.66% (H), 06/08/2023			540,000		531,303
4.83% (H), 07/20/2023			123,000		120,354
Total Short-Term U.S. Government Obligations (Cost $942,825)					942,639
	��	Shares		Value
OTHER INVESTMENT COMPANY - 1.0%
Securities Lending Collateral - 1.0%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 4.30% (H)			1,008,681		1,008,681
Total Other Investment Company (Cost $1,008,681)					1,008,681
Total Investments (Cost $97,034,390)					113,527,161
Net Other Assets (Liabilities) - (8.5)%					(8,940,899	)
Net Assets - 100.0%					$  104,586,262

Transamerica Funds Page    10

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts	Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
S&P 500® E-Mini Index	1		03/17/2023		$	192,727		$	204,500		$	11,773		$	—

INVESTMENT VALUATION:

Valuation Inputs ^(I)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	61,773,211	$	—	$	—	$	61,773,211
Preferred Stocks		91,876		—		—		91,876
Asset-Backed Securities		—		2,624,655		—		2,624,655
Corporate Debt Securities		—		14,886,901		—		14,886,901
Foreign Government Obligations		—		407,186		—		407,186
Mortgage-Backed Securities		—		2,333,576		—		2,333,576
U.S. Government Agency Obligations		—		10,250,363		—		10,250,363
U.S. Government Obligations		—		11,370,163		—		11,370,163
Commercial Paper		—		7,837,910		—		7,837,910
Short-Term U.S. Government Obligations		—		942,639		—		942,639
Other Investment Company		1,008,681		—		—		1,008,681
Total Investments	$	62,873,768	$	50,653,393	$	—	$	113,527,161
Other Financial Instruments
Futures Contracts (J)	$	11,773	$	—	$	—	$	11,773
Total Other Financial Instruments	$	11,773	$	—	$	—	$	11,773

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of the securities are on loan. The total value of all securities on loan is $2,267,903, collateralized by cash collateral of $1,008,681 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $1,307,266. 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.
(B)	Non-income producing securities.
(C)	Percentage rounds to less than 0.1% or (0.1)%.
(D)	Floating or variable rate securities. The rates disclosed are as of January 31, 2023. 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.
(E)	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, 2023, the total value of 144A securities is $8,988,046, representing 8.6% of the Fund’s net assets.
(F)	Perpetual maturity. The date displayed is the next call date.
(G)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2023. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)	Rates disclosed reflect the yields at January 31, 2023.
(I)	There were no transfers in or out of Level 3 during the period ended January 31, 2023. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(J)	Derivative instruments are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

Transamerica Funds Page    11

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2023

(unaudited)

INVESTMENT VALUATION

Transamerica Balanced II (the “Fund”) is a series of the Transamerica Funds.

Effective September 8, 2022, TAM has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the 1940 Act with responsibility for fair valuation subject to oversight by the Fund’s Board of Trustees. The net asset value of the Fund is computed as of the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

TAM utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:

Level 1 — Unadjusted quoted prices in active markets for identical securities.

Level 2 — Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM’s own assumptions used in determining the fair value of the Fund’s investments and derivative instruments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at January 31, 2023, is disclosed within the Investment Valuation section of the Schedule of Investments.

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

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

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

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

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

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

Transamerica Funds Page    12

Transamerica Balanced II

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2023

(unaudited)

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

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

U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

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

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

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

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

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    13