Transamerica Bond (IDITX) NPORT-P Transamerica Mid Cap Value Opportunities (Jul 2023 report)

Transamerica Mid Cap Value Opportunities

SCHEDULE OF INVESTMENTS

At July 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS - 93.0%
Aerospace & Defense - 2.5%
Huntington Ingalls Industries, Inc.		153,800		$  35,323,246
Air Freight & Logistics - 1.5%
FedEx Corp.		77,600		20,948,120
Banks - 1.2%
First Citizens BancShares, Inc., Class A		11,545		16,524,359
Building Products - 0.7%
Builders FirstSource, Inc. (A)		71,000		10,254,530
Chemicals - 3.1%
Mosaic Co.		492,200		20,062,072
Olin Corp.		408,900		23,585,352
				43,647,424
Consumer Finance - 1.2%
Ally Financial, Inc.		570,039		17,408,991
Consumer Staples Distribution & Retail - 1.5%
Dollar Tree, Inc. (A)		133,500		20,603,055
Containers & Packaging - 1.3%
Graphic Packaging Holding Co.		725,700		17,561,940
Distributors - 1.6%
LKQ Corp.		395,800		21,685,882
Diversified Telecommunication Services - 2.3%
GCI Liberty, Inc. (A) (B)		293,004		0
Liberty Global PLC, Class A (A)		1,766,926		32,811,816
				32,811,816
Electric Utilities - 5.5%
Evergy, Inc.		523,700		31,406,289
Exelon Corp.		415,000		17,371,900
OGE Energy Corp.		773,142		27,949,083
				76,727,272
Electronic Equipment, Instruments & Components - 2.3%
Flex Ltd. (A)		500,600		13,696,416
Vontier Corp.		576,438		17,829,227
				31,525,643
Entertainment - 1.3%
Warner Bros Discovery, Inc. (A)		1,399,000		18,284,930
Financial Services - 4.5%
Fidelity National Information Services, Inc.		190,100		11,478,238
FleetCor Technologies, Inc. (A)		100,200		24,940,782
Global Payments, Inc.		244,500		26,956,125
				63,375,145
Food Products - 2.9%
Post Holdings, Inc. (A)		297,000		25,334,100
Tyson Foods, Inc., Class A		285,500		15,908,060
				41,242,160
Gas Utilities - 0.6%
National Fuel Gas Co.		161,800		8,593,198

	Shares		Value
COMMON STOCKS (continued)
Health Care Equipment & Supplies - 1.5%
Koninklijke Philips NV (A) (C)		995,666		$   20,620,243
Health Care Providers & Services - 5.3%
AmerisourceBergen Corp.		142,956		26,718,477
Centene Corp. (A)		378,100		25,744,829
Laboratory Corp. of America Holdings		98,838		21,144,413
				73,607,719
Independent Power & Renewable Electricity Producers - 1.8%
Vistra Corp.		885,800		24,855,548
Insurance - 10.0%
Allstate Corp.		238,649		26,890,969
Arch Capital Group Ltd. (A)		255,239		19,829,518
Fidelity National Financial, Inc.		506,122		19,824,799
Loews Corp.		155,398		9,735,685
Markel Group, Inc. (A)		19,588		28,396,919
Old Republic International Corp.		502,400		13,851,168
Willis Towers Watson PLC		98,600		20,837,138
				139,366,196
Interactive Media & Services - 1.7%
IAC, Inc. (A)		346,265		24,100,044
Life Sciences Tools & Services - 2.5%
Bio-Rad Laboratories, Inc., Class A (A)		79,400		32,185,584
Fortrea Holdings, Inc. (A)		105,738		3,379,387
				35,564,971
Machinery - 0.9%
CNH Industrial NV		850,368		12,211,284
Media - 8.7%
Altice USA, Inc., Class A (A)		2,321,090		7,868,495
DISH Network Corp., Class A (A)		1,325,343		10,509,970
Fox Corp., Class A		576,600		19,287,270
Liberty Broadband Corp., Class C (A)		353,470		31,504,781
Liberty Media Corp. - Liberty SiriusXM, Class C (A)		907,840		28,896,547
News Corp., Class A		1,191,100		23,607,602
				121,674,665
Metals & Mining - 1.3%
U.S. Steel Corp.		703,100		17,929,050
Multi-Utilities - 6.0%
CenterPoint Energy, Inc.		695,102		20,915,619
Dominion Energy, Inc.		590,700		31,631,985
NiSource, Inc.		1,129,100		31,434,144
				83,981,748
Office REITs - 1.4%
JBG SMITH Properties		1,203,500		20,134,555
Oil, Gas & Consumable Fuels - 7.9%
Chesapeake Energy Corp.		205,900		17,365,606
Diamondback Energy, Inc.		86,700		12,772,644
EQT Corp.		268,900		11,342,202
HF Sinclair Corp.		331,900		17,288,671
Kinder Morgan, Inc.		1,349,200		23,894,332
Williams Cos., Inc.		822,300		28,328,235
				110,991,690
Paper & Forest Products - 1.2%
Louisiana-Pacific Corp.		217,500		16,558,275

Transamerica Funds Page    1

Transamerica Mid Cap Value Opportunities

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2023

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Pharmaceuticals - 3.1%
Catalent, Inc. (A)		169,300		$   8,214,436
Organon & Co.		429,900		9,449,202
Perrigo Co. PLC		685,300		25,109,392
				42,773,030
Professional Services - 1.3%
Clarivate PLC (A) (C)		1,885,300		17,929,203
Specialized REITs - 1.2%
Gaming & Leisure Properties, Inc.		357,875		16,984,748
Specialty Retail - 1.4%
Advance Auto Parts, Inc.		100,100		7,446,439
Ross Stores, Inc.		99,800		11,441,072
				18,887,511
Technology Hardware, Storage & Peripherals - 1.8%
Hewlett Packard Enterprise Co.		410,000		7,125,800
Western Digital Corp. (A)		409,600		17,432,576
				24,558,376
Total Common Stocks (Cost $1,112,863,860)				1,299,246,567
OTHER INVESTMENT COMPANY - 0.3%
Securities Lending Collateral - 0.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.28% (D)		4,619,516		4,619,516
Total Other Investment Company (Cost $4,619,516)				4,619,516
	Principal		Value
REPURCHASE AGREEMENT - 6.5%
Fixed Income Clearing Corp., 2.50% (D), dated 07/31/2023, to be repurchased at $91,512,732 on 08/01/2023. Collateralized by a U.S. Government Obligation, 4.50%, due 07/15/2026, and with a value of $93,336,514.		$  91,506,377		91,506,377
Total Repurchase Agreement (Cost $91,506,377)				91,506,377
Total Investments (Cost $1,208,989,753)				1,395,372,460
Net Other Assets (Liabilities) - 0.2%				2,104,357
Net Assets - 100.0%				$  1,397,476,817

Transamerica Funds Page    2

Transamerica Mid Cap Value Opportunities

SCHEDULE OF INVESTMENTS (continued)

At July 31, 2023

(unaudited)

INVESTMENT VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	1,299,246,567	$	—	$	—	$	1,299,246,567
Other Investment Company		4,619,516		—		—		4,619,516
Repurchase Agreement		—		91,506,377		—		91,506,377
Total Investments	$	1,303,866,083	$	91,506,377	$	—	$	1,395,372,460

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Security deemed worthless.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $30,704,443, collateralized by cash collateral of $4,619,516 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $26,876,112. 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)	Rates disclosed reflect the yields at July 31, 2023.
(E)	There were no transfers in or out of Level 3 during the period ended July 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:

REIT Real Estate Investment Trust

Transamerica Funds Page    3

Transamerica Mid Cap Value Opportunities

NOTES TO SCHEDULE OF INVESTMENTS

At July 31, 2023

(unaudited)

INVESTMENT VALUATION

Transamerica Mid Cap Value Opportunities (the “Fund”) is a series of the Transamerica Funds.

Transamerica Asset Management, Inc. (“TAM”) has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, 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 July 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.

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.

Transamerica Funds Page    4