Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS
At January 31, 2023
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES - 97.4% | ||||||||
| Auto Components - 3.1% | ||||||||
Clarios Global LP / Clarios US Finance Co. | ||||||||
6.25%, 05/15/2026 (A) | $ 30,000 | $ 29,820 | ||||||
8.50%, 05/15/2027 (A) (B) | 120,000 | 119,524 | ||||||
Dana, Inc. | ||||||||
4.50%, 02/15/2032 | 377,000 | 318,003 | ||||||
5.63%, 06/15/2028 (B) | 274,000 | 258,068 | ||||||
Goodyear Tire & Rubber Co. | ||||||||
4.88%, 03/15/2027 | 130,000 | 121,722 | ||||||
5.00%, 07/15/2029 (B) | 115,000 | 101,307 | ||||||
9.50%, 05/31/2025 | 18,000 | 18,579 | ||||||
Patrick Industries, Inc. | ||||||||
7.50%, 10/15/2027 (A) | 194,000 | 191,953 | ||||||
|
| |||||||
| 1,158,976 | ||||||||
|
| |||||||
| Automobiles - 0.0% (G) | ||||||||
Ford Motor Co. | ||||||||
6.10%, 08/19/2032 (B) | 13,000 | 12,751 | ||||||
|
| |||||||
| Banks - 3.5% | ||||||||
Barclays PLC | ||||||||
Fixed until 11/02/2025, 7.33% (C), | 200,000 | 209,850 | ||||||
Citigroup, Inc. | ||||||||
Fixed until 12/10/2025 (D), | 318,000 | 294,181 | ||||||
Fixed until 09/12/2024 (D), | 135,000 | 129,262 | ||||||
Intesa Sanpaolo SpA | ||||||||
Fixed until 06/01/2031, 4.20% (C), | 600,000 | 476,278 | ||||||
JPMorgan Chase & Co. | ||||||||
Fixed until 02/01/2025 (D), | 203,000 | 189,932 | ||||||
|
| |||||||
| 1,299,503 | ||||||||
|
| |||||||
| Beverages - 1.2% | ||||||||
Primo Water Holdings, Inc. | ||||||||
4.38%, 04/30/2029 (A) | 520,000 | 453,565 | ||||||
|
| |||||||
| Biotechnology - 0.9% | ||||||||
Grifols Escrow Issuer SA | ||||||||
4.75%, 10/15/2028 (A) | 400,000 | 347,848 | ||||||
|
| |||||||
| Building Products - 1.7% | ||||||||
Builders FirstSource, Inc. | ||||||||
4.25%, 02/01/2032 (A) | 12,000 | 10,325 | ||||||
5.00%, 03/01/2030 (A) | 128,000 | 119,352 | ||||||
Cornerstone Building Brands, Inc. | ||||||||
6.13%, 01/15/2029 (A) | 556,000 | 416,511 | ||||||
Standard Industries, Inc. | ||||||||
4.38%, 07/15/2030 (A) | 23,000 | 19,662 | ||||||
5.00%, 02/15/2027 (A) | 88,000 | 83,392 | ||||||
|
| |||||||
| 649,242 | ||||||||
|
| |||||||
| Capital Markets - 2.2% | ||||||||
Camelot Return Merger Sub, Inc. | ||||||||
8.75%, 08/01/2028 (A) | 253,000 | 237,883 | ||||||
LPL Holdings, Inc. | ||||||||
4.00%, 03/15/2029 (A) | 457,000 | 407,735 | ||||||
4.63%, 11/15/2027 (A) (B) | 50,000 | 47,582 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Capital Markets (continued) | ||||||||
MSCI, Inc. | ||||||||
3.63%, 09/01/2030 (A) | $ 143,000 | $ 124,343 | ||||||
|
| |||||||
| 817,543 | ||||||||
|
| |||||||
| Chemicals - 0.5% | ||||||||
ASP Unifrax Holdings, Inc. | ||||||||
5.25%, 09/30/2028 (A) | 25,000 | 21,419 | ||||||
7.50%, 09/30/2029 (A) | 72,000 | 51,850 | ||||||
Avient Corp. | ||||||||
7.13%, 08/01/2030 (A) | 72,000 | 72,533 | ||||||
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc. | ||||||||
5.13%, 04/01/2029 (A) | 76,000 | 54,751 | ||||||
|
| |||||||
| 200,553 | ||||||||
|
| |||||||
| Commercial Services & Supplies - 4.9% | ||||||||
Ashtead Capital, Inc. | ||||||||
4.00%, 05/01/2028 (A) | 400,000 | 375,467 | ||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. | ||||||||
5.38%, 03/01/2029 (A) (B) | 178,000 | 159,132 | ||||||
5.75%, 07/15/2027 (A) (B) | 287,000 | 269,697 | ||||||
Covanta Holding Corp. | ||||||||
4.88%, 12/01/2029 (A) | 33,000 | 28,783 | ||||||
5.00%, 09/01/2030 | 414,000 | 352,472 | ||||||
Garda World Security Corp. | ||||||||
4.63%, 02/15/2027 (A) | 196,000 | 178,381 | ||||||
6.00%, 06/01/2029 (A) | 76,000 | 63,437 | ||||||
Harsco Corp. | ||||||||
5.75%, 07/31/2027 (A) | 231,000 | 195,426 | ||||||
Stericycle, Inc. | ||||||||
5.38%, 07/15/2024 (A) | 186,000 | 184,209 | ||||||
|
| |||||||
| 1,807,004 | ||||||||
|
| |||||||
| Communications Equipment - 1.4% | ||||||||
CommScope Technologies LLC | ||||||||
6.00%, 06/15/2025 (A) | 162,000 | 153,419 | ||||||
CommScope, Inc. | ||||||||
4.75%, 09/01/2029 (A) | 127,000 | 105,177 | ||||||
6.00%, 03/01/2026 (A) | 290,000 | 278,922 | ||||||
|
| |||||||
| 537,518 | ||||||||
|
| |||||||
| Construction & Engineering - 0.6% | ||||||||
Ashton Woods USA LLC / Ashton Woods Finance Co. | ||||||||
4.63%, 08/01/2029 - 04/01/2030 (A) | 45,000 | 37,553 | ||||||
6.63%, 01/15/2028 (A) | 200,000 | 182,440 | ||||||
|
| |||||||
| 219,993 | ||||||||
|
| |||||||
| Construction Materials - 1.5% | ||||||||
Advanced Drainage Systems, Inc. | ||||||||
5.00%, 09/30/2027 (A) | 555,000 | 528,287 | ||||||
6.38%, 06/15/2030 (A) (B) | 31,000 | 30,801 | ||||||
|
| |||||||
| 559,088 | ||||||||
|
| |||||||
| Consumer Finance - 2.1% | ||||||||
Ford Motor Credit Co. LLC | ||||||||
4.00%, 11/13/2030 | 400,000 | 347,551 | ||||||
6.95%, 03/06/2026 | 220,000 | 225,036 | ||||||
7.35%, 11/04/2027 | 216,000 | 226,530 | ||||||
|
| |||||||
| 799,117 | ||||||||
|
| |||||||
Transamerica Funds | Page 1 |
Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Containers & Packaging - 3.5% | ||||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC | ||||||||
3.25%, 09/01/2028 (A) (B) | $ 400,000 | $ 351,012 | ||||||
Cascades, Inc. / Cascades USA, Inc. | ||||||||
5.13%, 01/15/2026 (A) | 365,000 | 340,251 | ||||||
5.38%, 01/15/2028 (A) | 61,000 | 56,775 | ||||||
Graphic Packaging International LLC | ||||||||
3.50%, 03/15/2028 - 03/01/2029 (A) | 204,000 | 182,362 | ||||||
4.13%, 08/15/2024 | 99,000 | 97,410 | ||||||
Mauser Packaging Solutions Holding Co. | ||||||||
5.50%, 04/15/2024 (A) | 98,000 | 97,931 | ||||||
7.88%, 08/15/2026 (A) (E) | 71,000 | 71,621 | ||||||
Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer LLC | ||||||||
4.00%, 10/15/2027 (A) | 78,000 | 70,005 | ||||||
Trident TPI Holdings, Inc. | ||||||||
9.25%, 08/01/2024 (A) | 31,000 | 30,248 | ||||||
|
| |||||||
| 1,297,615 | ||||||||
|
| |||||||
| Diversified Consumer Services - 0.2% | ||||||||
WW International, Inc. | ||||||||
4.50%, 04/15/2029 (A) | 133,000 | 70,854 | ||||||
|
| |||||||
| Diversified Financial Services - 1.3% | ||||||||
Dana Financing Luxembourg SARL | ||||||||
5.75%, 04/15/2025 (A) | 274,000 | 271,260 | ||||||
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. | ||||||||
5.25%, 10/01/2025 (A) | 78,000 | 75,097 | ||||||
United Wholesale Mortgage LLC | ||||||||
5.50%, 11/15/2025 - 04/15/2029 (A) | 146,000 | 131,126 | ||||||
|
| |||||||
| 477,483 | ||||||||
|
| |||||||
| Diversified Telecommunication Services - 4.0% | ||||||||
Frontier Communications Holdings LLC | ||||||||
5.00%, 05/01/2028 (A) | 156,000 | 140,876 | ||||||
6.00%, 01/15/2030 (A) (B) | 46,000 | 37,613 | ||||||
8.75%, 05/15/2030 (A) | 25,000 | 25,895 | ||||||
Hughes Satellite Systems Corp. | ||||||||
6.63%, 08/01/2026 | 199,000 | 192,457 | ||||||
Iliad Holding SASU | ||||||||
6.50%, 10/15/2026 (A) | 400,000 | 378,782 | ||||||
Level 3 Financing, Inc. | ||||||||
3.63%, 01/15/2029 (A) | 18,000 | 13,392 | ||||||
3.75%, 07/15/2029 (A) | 216,000 | 158,274 | ||||||
4.25%, 07/01/2028 (A) | 83,000 | 65,777 | ||||||
Lumen Technologies, Inc. | ||||||||
5.13%, 12/15/2026 (A) (B) | 435,000 | 370,837 | ||||||
5.38%, 06/15/2029 (A) (B) | 46,000 | 31,868 | ||||||
Telecom Italia Capital SA | ||||||||
6.00%, 09/30/2034 | 53,000 | 42,262 | ||||||
6.38%, 11/15/2033 | 19,000 | 15,957 | ||||||
|
| |||||||
| 1,473,990 | ||||||||
|
| |||||||
| Electric Utilities - 2.1% | ||||||||
Pattern Energy Operations LP / Pattern Energy Operations, Inc. | ||||||||
4.50%, 08/15/2028 (A) | 831,000 | 762,443 | ||||||
|
| |||||||
| Electrical Equipment - 0.1% | ||||||||
Atkore, Inc. | ||||||||
4.25%, 06/01/2031 (A) | 23,000 | 20,205 | ||||||
|
| |||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Electronic Equipment, Instruments & Components - 0.5% | ||||||||
Sensata Technologies, Inc. | ||||||||
4.38%, 02/15/2030 (A) | $ 196,000 | $ 177,458 | ||||||
|
| |||||||
| Energy Equipment & Services - 1.6% | ||||||||
CSI Compressco LP / CSI Compressco Finance, Inc. | ||||||||
7.50%, 04/01/2025 (A) | 88,000 | 82,634 | ||||||
Sunnova Energy Corp. | ||||||||
5.88%, 09/01/2026 (A) (B) | 372,000 | 334,362 | ||||||
USA Compression Partners LP / USA Compression Finance Corp. | ||||||||
6.88%, 09/01/2027 | 196,000 | 190,071 | ||||||
|
| |||||||
| 607,067 | ||||||||
|
| |||||||
| Entertainment - 0.4% | ||||||||
Netflix, Inc. | ||||||||
4.88%, 06/15/2030 (A) (B) | 137,000 | 135,301 | ||||||
|
| |||||||
| Equity Real Estate Investment Trusts - 5.0% | ||||||||
HAT Holdings I LLC / HAT Holdings II LLC | ||||||||
3.38%, 06/15/2026 (A) | 282,000 | 250,275 | ||||||
3.75%, 09/15/2030 (A) | 260,000 | 197,906 | ||||||
6.00%, 04/15/2025 (A) | 50,000 | 48,896 | ||||||
Iron Mountain Information Management Services, Inc. | ||||||||
5.00%, 07/15/2032 (A) | 82,000 | 71,040 | ||||||
Iron Mountain, Inc. | ||||||||
4.50%, 02/15/2031 (A) | 15,000 | 12,853 | ||||||
5.25%, 03/15/2028 (A) | 420,000 | 397,572 | ||||||
iStar, Inc. | ||||||||
5.50%, 02/15/2026 | 72,000 | 72,540 | ||||||
MPT Operating Partnership LP / MPT Finance Corp. | ||||||||
3.50%, 03/15/2031 | 323,000 | 226,096 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | ||||||||
5.88%, 10/01/2028 (A) | 94,000 | 86,476 | ||||||
7.50%, 06/01/2025 (A) | 150,000 | 152,062 | ||||||
SBA Communications Corp. | ||||||||
3.13%, 02/01/2029 | 339,000 | 287,195 | ||||||
3.88%, 02/15/2027 | 55,000 | 50,799 | ||||||
|
| |||||||
| 1,853,710 | ||||||||
|
| |||||||
| Food & Staples Retailing - 0.7% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP | ||||||||
4.63%, 01/15/2027 (A) | 293,000 | 277,779 | ||||||
|
| |||||||
| Food Products - 2.5% | ||||||||
Darling Ingredients, Inc. | ||||||||
5.25%, 04/15/2027 (A) | 454,000 | 442,764 | ||||||
6.00%, 06/15/2030 (A) | 12,000 | 11,940 | ||||||
Kraft Heinz Foods Co. | ||||||||
3.88%, 05/15/2027 | 77,000 | 74,885 | ||||||
Post Holdings, Inc. | ||||||||
4.50%, 09/15/2031 (A) | 27,000 | 23,245 | ||||||
4.63%, 04/15/2030 (A) | 321,000 | 282,480 | ||||||
5.50%, 12/15/2029 (A) | 79,000 | 73,213 | ||||||
5.63%, 01/15/2028 (A) | 38,000 | 36,779 | ||||||
|
| |||||||
| 945,306 | ||||||||
|
| |||||||
| Health Care Equipment & Supplies - 0.3% | ||||||||
Medline Borrower LP | ||||||||
3.88%, 04/01/2029 (A) | 145,000 | 123,692 | ||||||
|
| |||||||
Transamerica Funds | Page 2 |
Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Health Care Providers & Services - 5.1% | ||||||||
Acadia Healthcare Co., Inc. | ||||||||
5.00%, 04/15/2029 (A) | $ 159,000 | $ 149,493 | ||||||
AdaptHealth LLC | ||||||||
4.63%, 08/01/2029 (A) | 5,000 | 4,350 | ||||||
5.13%, 03/01/2030 (A) | 12,000 | 10,680 | ||||||
6.13%, 08/01/2028 (A) | 240,000 | 227,045 | ||||||
DaVita, Inc. | ||||||||
3.75%, 02/15/2031 (A) | 154,000 | 120,397 | ||||||
4.63%, 06/01/2030 (A) | 147,000 | 123,745 | ||||||
Encompass Health Corp. | ||||||||
4.63%, 04/01/2031 | 5,000 | 4,401 | ||||||
4.75%, 02/01/2030 | 280,000 | 256,665 | ||||||
HCA, Inc. | ||||||||
3.50%, 09/01/2030 | 215,000 | 192,266 | ||||||
5.88%, 02/15/2026 | 166,000 | 168,640 | ||||||
Molina Healthcare, Inc. | ||||||||
4.38%, 06/15/2028 (A) | 121,000 | 111,750 | ||||||
Tenet Healthcare Corp. | ||||||||
4.25%, 06/01/2029 | 44,000 | 39,178 | ||||||
6.13%, 10/01/2028 - 06/15/2030 (A) (B) | 513,000 | 483,570 | ||||||
|
| |||||||
| 1,892,180 | ||||||||
|
| |||||||
| Hotels, Restaurants & Leisure - 6.7% | ||||||||
1011778 BC ULC / New Red Finance, Inc. | ||||||||
3.88%, 01/15/2028 (A) | 63,000 | 57,581 | ||||||
Boyd Gaming Corp. | ||||||||
4.75%, 12/01/2027 (B) | 154,000 | 146,403 | ||||||
Boyne USA, Inc. | ||||||||
4.75%, 05/15/2029 (A) | 311,000 | 281,716 | ||||||
GLP Capital LP / GLP Financing II, Inc. | ||||||||
5.25%, 06/01/2025 | 215,000 | 213,405 | ||||||
Hilton Domestic Operating Co., Inc. | ||||||||
4.88%, 01/15/2030 | 372,000 | 350,692 | ||||||
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Escrow, Inc. | ||||||||
4.88%, 07/01/2031 (A) | 366,000 | 317,388 | ||||||
5.00%, 06/01/2029 (A) | 131,000 | 117,160 | ||||||
Lions Gate Capital Holdings LLC | ||||||||
5.50%, 04/15/2029 (A) | 133,000 | 86,152 | ||||||
NCL Corp. Ltd. | ||||||||
5.88%, 03/15/2026 (A) | 192,000 | 167,430 | ||||||
Royal Caribbean Cruises Ltd. | ||||||||
4.25%, 07/01/2026 (A) | 14,000 | 12,145 | ||||||
Travel & Leisure Co. | ||||||||
4.50%, 12/01/2029 (A) | 170,000 | 146,223 | ||||||
5.65%, 04/01/2024 | 242,000 | 240,110 | ||||||
6.60%, 10/01/2025 | 75,000 | 74,621 | ||||||
Viking Cruises Ltd. | ||||||||
6.25%, 05/15/2025 (A) | 293,000 | 266,682 | ||||||
|
| |||||||
| 2,477,708 | ||||||||
|
| |||||||
| Household Durables - 1.9% | ||||||||
Beazer Homes USA, Inc. | ||||||||
6.75%, 03/15/2025 | 12,000 | 11,748 | ||||||
7.25%, 10/15/2029 | 145,000 | 133,944 | ||||||
KB Home | ||||||||
4.80%, 11/15/2029 | 70,000 | 62,820 | ||||||
7.25%, 07/15/2030 | 120,000 | 119,638 | ||||||
Meritage Homes Corp. | ||||||||
5.13%, 06/06/2027 | 123,000 | 117,773 | ||||||
6.00%, 06/01/2025 | 37,000 | 37,200 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Household Durables (continued) | ||||||||
Newell Brands, Inc. | ||||||||
4.88%, 06/01/2025 | $ 215,000 | $ 210,216 | ||||||
|
| |||||||
| 693,339 | ||||||||
|
| |||||||
| Household Products - 1.7% | ||||||||
Central Garden & Pet Co. | ||||||||
4.13%, 04/30/2031 (A) | 82,000 | 68,786 | ||||||
Energizer Holdings, Inc. | ||||||||
6.50%, 12/31/2027 (A) | 300,000 | 292,575 | ||||||
Spectrum Brands, Inc. | ||||||||
3.88%, 03/15/2031 (A) (B) | 186,000 | 149,959 | ||||||
5.50%, 07/15/2030 (A) | 116,000 | 105,366 | ||||||
|
| |||||||
| 616,686 | ||||||||
|
| |||||||
| Independent Power & Renewable Electricity Producers - 2.4% | ||||||||
Calpine Corp. | ||||||||
4.50%, 02/15/2028 (A) | 166,000 | 153,179 | ||||||
5.00%, 02/01/2031 (A) | 176,000 | 150,580 | ||||||
Clearway Energy Operating LLC | ||||||||
3.75%, 02/15/2031 (A) | 20,000 | 16,859 | ||||||
4.75%, 03/15/2028 (A) | 616,000 | 581,011 | ||||||
|
| |||||||
| 901,629 | ||||||||
|
| |||||||
| Insurance - 1.1% | ||||||||
Hartford Financial Services Group, Inc. | ||||||||
3-Month LIBOR + 2.13%, 6.73% (C), | 117,000 | 100,064 | ||||||
Lincoln National Corp. | ||||||||
3-Month LIBOR + 2.36%, 7.01% (C), | 141,000 | 112,835 | ||||||
Ohio National Financial Services, Inc. | ||||||||
5.80%, 01/24/2030 (A) | 200,000 | 189,910 | ||||||
|
| |||||||
| 402,809 | ||||||||
|
| |||||||
| IT Services - 0.7% | ||||||||
Conduent Business Services LLC / Conduent State & Local Solutions, Inc. | ||||||||
6.00%, 11/01/2029 (A) | 104,000 | 92,040 | ||||||
Gartner, Inc. | ||||||||
3.75%, 10/01/2030 (A) | 33,000 | 29,246 | ||||||
4.50%, 07/01/2028 (A) | 98,000 | 93,099 | ||||||
Rackspace Technology Global, Inc. | ||||||||
3.50%, 02/15/2028 (A) | 104,000 | 63,014 | ||||||
|
| |||||||
| 277,399 | ||||||||
|
| |||||||
| Leisure Products - 0.2% | ||||||||
Mattel, Inc. | ||||||||
5.45%, 11/01/2041 | 64,000 | 54,794 | ||||||
6.20%, 10/01/2040 | 7,000 | 6,499 | ||||||
|
| |||||||
| 61,293 | ||||||||
|
| |||||||
| Life Sciences Tools & Services - 0.5% | ||||||||
Charles River Laboratories International, Inc. | ||||||||
3.75%, 03/15/2029 (A) | 152,000 | 135,288 | ||||||
4.00%, 03/15/2031 (A) (B) | 52,000 | 45,876 | ||||||
|
| |||||||
| 181,164 | ||||||||
|
| |||||||
| Machinery - 3.0% | ||||||||
Chart Industries, Inc. | ||||||||
7.50%, 01/01/2030 (A) | 14,000 | 14,298 | ||||||
9.50%, 01/01/2031 (A) (B) | 16,000 | 16,696 | ||||||
Transamerica Funds | Page 3 |
Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Machinery (continued) | ||||||||
Madison IAQ LLC | ||||||||
4.13%, 06/30/2028 (A) | $ 266,000 | $ 234,989 | ||||||
5.88%, 06/30/2029 (A) | 31,000 | 24,590 | ||||||
Smyrna Ready Mix Concrete LLC | ||||||||
6.00%, 11/01/2028 (A) | 127,000 | 115,535 | ||||||
SPX FLOW, Inc. | ||||||||
8.75%, 04/01/2030 (A) (B) | 154,000 | 126,681 | ||||||
Vertiv Group Corp. | ||||||||
4.13%, 11/15/2028 (A) | 172,000 | 148,994 | ||||||
Wabash National Corp. | ||||||||
4.50%, 10/15/2028 (A) | 473,000 | 416,027 | ||||||
|
| |||||||
| 1,097,810 | ||||||||
|
| |||||||
| Media - 14.4% | ||||||||
Arches Buyer, Inc. | ||||||||
4.25%, 06/01/2028 (A) | 109,000 | 91,560 | ||||||
6.13%, 12/01/2028 (A) (B) | 43,000 | 36,217 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp. | ||||||||
4.25%, 02/01/2031 - 01/15/2034 (A) | 99,000 | 81,220 | ||||||
4.50%, 06/01/2033 (A) | 40,000 | 32,500 | ||||||
4.75%, 02/01/2032 (A) | 184,000 | 155,940 | ||||||
5.00%, 02/01/2028 (A) | 225,000 | 209,936 | ||||||
Clear Channel Outdoor Holdings, Inc. | ||||||||
5.13%, 08/15/2027 (A) | 244,000 | 222,784 | ||||||
7.50%, 06/01/2029 (A) (B) | 20,000 | 16,186 | ||||||
7.75%, 04/15/2028 (A) (B) | 67,000 | 56,999 | ||||||
CSC Holdings LLC | ||||||||
4.50%, 11/15/2031 (A) | 400,000 | 293,840 | ||||||
Diamond Sports Group LLC / Diamond Sports Finance Co. | ||||||||
5.38%, 08/15/2026 (A) | 60,000 | 4,425 | ||||||
Directv Financing LLC / Directv Financing Co-Obligor, Inc. | ||||||||
5.88%, 08/15/2027 (A) | 127,000 | 115,037 | ||||||
DISH DBS Corp. | ||||||||
5.25%, 12/01/2026 (A) | 113,000 | 97,383 | ||||||
5.75%, 12/01/2028 (A) | 39,000 | 31,912 | ||||||
7.75%, 07/01/2026 | 137,000 | 111,266 | ||||||
DISH Network Corp. | ||||||||
11.75%, 11/15/2027 (A) | 115,000 | 119,520 | ||||||
Gray Escrow II, Inc. | ||||||||
5.38%, 11/15/2031 (A) | 165,000 | 125,041 | ||||||
Gray Television, Inc. | ||||||||
4.75%, 10/15/2030 (A) | 455,000 | 335,562 | ||||||
7.00%, 05/15/2027 (A) (B) | 184,000 | 167,390 | ||||||
iHeartCommunications, Inc. | ||||||||
6.38%, 05/01/2026 | 380,000 | 363,052 | ||||||
8.38%, 05/01/2027 (B) | 133,000 | 118,842 | ||||||
LCPR Senior Secured Financing DAC | ||||||||
5.13%, 07/15/2029 (A) | 250,000 | 217,661 | ||||||
6.75%, 10/15/2027 (A) | 180,000 | 174,304 | ||||||
Nexstar Media, Inc. | ||||||||
4.75%, 11/01/2028 (A) (B) | 23,000 | 20,528 | ||||||
5.63%, 07/15/2027 (A) | 317,000 | 302,773 | ||||||
Sinclair Television Group, Inc. | ||||||||
5.50%, 03/01/2030 (A) (B) | 117,000 | 93,272 | ||||||
Sirius XM Radio, Inc. | ||||||||
3.13%, 09/01/2026 (A) | 37,000 | 33,299 | ||||||
4.13%, 07/01/2030 (A) | 290,000 | 248,327 | ||||||
Summer BC Bidco B LLC | ||||||||
5.50%, 10/31/2026 (A) | 400,000 | 331,362 | ||||||
TEGNA, Inc. | ||||||||
4.63%, 03/15/2028 | 270,000 | 253,408 | ||||||
4.75%, 03/15/2026 (A) | 34,000 | 32,857 | ||||||
Univision Communications, Inc. | ||||||||
6.63%, 06/01/2027 (A) | 145,000 | 142,100 | ||||||
7.38%, 06/30/2030 (A) | 9,000 | 8,826 | ||||||
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Media (continued) | ||||||||
UPC Broadband Finco BV | ||||||||
4.88%, 07/15/2031 (A) | $ 400,000 | $ 351,908 | ||||||
VZ Secured Financing BV | ||||||||
5.00%, 01/15/2032 (A) | 400,000 | 340,267 | ||||||
|
| |||||||
| 5,337,504 | ||||||||
|
| |||||||
| Metals & Mining - 2.0% | ||||||||
Mineral Resources Ltd. | ||||||||
8.13%, 05/01/2027 (A) | 45,000 | 45,338 | ||||||
8.50%, 05/01/2030 (A) (B) | 140,000 | 144,637 | ||||||
New Gold, Inc. | ||||||||
7.50%, 07/15/2027 (A) | 397,000 | 368,773 | ||||||
Novelis Corp. | ||||||||
3.25%, 11/15/2026 (A) | 42,000 | 38,023 | ||||||
3.88%, 08/15/2031 (A) | 12,000 | 10,128 | ||||||
4.75%, 01/30/2030 (A) | 140,000 | 126,700 | ||||||
|
| |||||||
| 733,599 | ||||||||
|
| |||||||
| Oil, Gas & Consumable Fuels - 1.9% | ||||||||
Cheniere Energy Partners LP | ||||||||
4.00%, 03/01/2031 | 196,000 | 175,843 | ||||||
DCP Midstream Operating LP | ||||||||
5.38%, 07/15/2025 | 74,000 | 73,850 | ||||||
Hess Midstream Operations LP | ||||||||
5.13%, 06/15/2028 (A) | 225,000 | 211,882 | ||||||
NuStar Logistics LP | ||||||||
5.63%, 04/28/2027 | 98,000 | 94,054 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | ||||||||
5.50%, 03/01/2030 | 166,000 | 161,920 | ||||||
|
| |||||||
| 717,549 | ||||||||
|
| |||||||
| Paper & Forest Products - 0.4% | ||||||||
Glatfelter Corp. | ||||||||
4.75%, 11/15/2029 (A) (B) | 188,000 | 131,600 | ||||||
|
| |||||||
| Personal Products - 0.6% | ||||||||
Coty, Inc. | ||||||||
5.00%, 04/15/2026 (A) | 121,000 | 115,858 | ||||||
6.50%, 04/15/2026 (A) (B) | 95,000 | 93,651 | ||||||
|
| |||||||
| 209,509 | ||||||||
|
| |||||||
| Real Estate Management & Development - 0.2% | ||||||||
Cushman & Wakefield US Borrower LLC | ||||||||
6.75%, 05/15/2028 (A) | 88,000 | 84,949 | ||||||
|
| |||||||
| Road & Rail - 1.6% | ||||||||
Hertz Corp. | ||||||||
4.63%, 12/01/2026 (A) | 6,000 | 5,340 | ||||||
5.00%, 12/01/2029 (A) | 239,000 | 195,382 | ||||||
Uber Technologies, Inc. | ||||||||
4.50%, 08/15/2029 (A) | 146,000 | 129,986 | ||||||
6.25%, 01/15/2028 (A) | 5,000 | 4,892 | ||||||
8.00%, 11/01/2026 (A) | 250,000 | 254,731 | ||||||
|
| |||||||
| 590,331 | ||||||||
|
| |||||||
| Software - 1.1% | ||||||||
Crowdstrike Holdings, Inc. | ||||||||
3.00%, 02/15/2029 (B) | 22,000 | 18,881 | ||||||
NCR Corp. | ||||||||
5.00%, 10/01/2028 (A) | 75,000 | 66,064 | ||||||
5.13%, 04/15/2029 (A) | 107,000 | 93,193 | ||||||
5.25%, 10/01/2030 (A) | 9,000 | 7,784 | ||||||
6.13%, 09/01/2029 (A) (B) | 240,000 | 237,600 | ||||||
|
| |||||||
| 423,522 | ||||||||
|
| |||||||
Transamerica Funds | Page 4 |
Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
| Principal | Value | |||||||
| CORPORATE DEBT SECURITIES (continued) | ||||||||
| Technology Hardware, Storage & Peripherals - 0.4% | ||||||||
Western Digital Corp. | ||||||||
4.75%, 02/15/2026 | $ 144,000 | $ 139,051 | ||||||
|
| |||||||
| Trading Companies & Distributors - 3.1% | ||||||||
Boise Cascade Co. | ||||||||
4.88%, 07/01/2030 (A) | 469,000 | 421,404 | ||||||
Herc Holdings, Inc. | ||||||||
5.50%, 07/15/2027 (A) | 147,000 | 140,752 | ||||||
United Rentals North America, Inc. | ||||||||
3.75%, 01/15/2032 | 156,000 | 134,330 | ||||||
4.00%, 07/15/2030 | 374,000 | 335,417 | ||||||
6.00%, 12/15/2029 (A) | 130,000 | 131,950 | ||||||
|
| |||||||
| 1,163,853 | ||||||||
|
| |||||||
| Wireless Telecommunication Services - 2.6% | ||||||||
Altice France SA | ||||||||
5.13%, 07/15/2029 (A) | 240,000 | 187,632 | ||||||
Sprint LLC | ||||||||
7.88%, 09/15/2023 | 325,000 | 329,848 | ||||||
Vmed O2 Financing I PLC | ||||||||
4.75%, 07/15/2031 (A) | 548,000 | 465,810 | ||||||
|
| |||||||
| 983,290 | ||||||||
|
| |||||||
Total Corporate Debt Securities |
| 36,202,378 | ||||||
|
| |||||||
| SHORT-TERM U.S. GOVERNMENT OBLIGATION - 0.7% | ||||||||
U.S. Treasury Bills | ||||||||
4.27% (F), 03/23/2023 | 280,400 | 278,660 | ||||||
|
| |||||||
Total Short-Term U.S. Government Obligation |
| 278,660 | ||||||
|
| |||||||
| Shares | Value | |||||||
| OTHER INVESTMENT COMPANY - 10.5% | ||||||||
| Securities Lending Collateral - 10.5% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 4.30% (F) | 3,888,283 | 3,888,283 | ||||||
|
| |||||||
Total Other Investment Company |
| 3,888,283 | ||||||
|
| |||||||
Total Investments |
| 40,369,321 | ||||||
Net Other Assets (Liabilities) - (8.6)% |
| (3,192,455 | ) | |||||
|
| |||||||
Net Assets - 100.0% |
| $ 37,176,866 | ||||||
|
| |||||||
Transamerica Funds | Page 5 |
Transamerica High Yield ESG
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2023
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (H)
| Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS |
| |||||||||||||||
Investments |
| |||||||||||||||
Corporate Debt Securities | $ | — | $ | 36,202,378 | $ | — | $ | 36,202,378 | ||||||||
Short-Term U.S. Government Obligation | — | 278,660 | — | 278,660 | ||||||||||||
Other Investment Company | 3,888,283 | — | — | 3,888,283 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 3,888,283 | $ | 36,481,038 | $ | — | $ | 40,369,321 | ||||||||
|
|
|
|
|
|
|
| |||||||||
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, 2023, the total value of 144A securities is $27,283,852, representing 73.4% of the Fund’s net assets. | |
| (B) | All or a portion of the securities are on loan. The total value of all securities on loan is $4,006,113, collateralized by cash collateral of $3,888,283 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $202,248. 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. | |
| (C) | 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. | |
| (D) | Perpetual maturity. The date displayed is the next call date. | |
| (E) | When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2023. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement. | |
| (F) | Rates disclosed reflect the yields at January 31, 2023. | |
| (G) | Percentage rounds to less than 0.1% or (0.1)%. | |
| (H) | 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. |
PORTFOLIO ABBREVIATION:
LIBOR | London Interbank Offered Rate |
Transamerica Funds | Page 6 |
Transamerica High Yield ESG
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2023
(unaudited)
INVESTMENT VALUATION
Transamerica High Yield ESG (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.
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:
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.
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.
Transamerica Funds | Page 7 |