Transamerica Balanced II
SCHEDULE OF INVESTMENTS
At July 31, 2023
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 61.9% | ||||||||
Aerospace & Defense - 0.8% | ||||||||
Howmet Aerospace, Inc. | 1,339 | $ 68,477 | ||||||
RTX Corp. | 5,566 | 489,418 | ||||||
Textron, Inc. | 3,447 | 268,073 | ||||||
|
| |||||||
825,968 | ||||||||
|
| |||||||
Air Freight & Logistics - 0.8% | ||||||||
FedEx Corp. | 788 | 212,721 | ||||||
United Parcel Service, Inc., Class B | 3,224 | 603,307 | ||||||
|
| |||||||
816,028 | ||||||||
|
| |||||||
Automobile Components - 0.1% | ||||||||
Aptiv PLC (A) | 1,401 | 153,395 | ||||||
|
| |||||||
Automobiles - 1.1% | ||||||||
Tesla, Inc. (A) | 4,328 | 1,157,437 | ||||||
|
| |||||||
Banks - 2.3% | ||||||||
Bank of America Corp. | 24,484 | 783,488 | ||||||
Citigroup, Inc. | 5,182 | 246,974 | ||||||
Fifth Third Bancorp | 5,939 | 172,825 | ||||||
Truist Financial Corp. | 9,791 | 325,257 | ||||||
US Bancorp | 9,229 | 366,207 | ||||||
Wells Fargo & Co. | 13,393 | 618,221 | ||||||
|
| |||||||
2,512,972 | ||||||||
|
| |||||||
Beverages - 1.6% | ||||||||
Coca-Cola Co. | 12,951 | 802,056 | ||||||
Constellation Brands, Inc., Class A | 863 | 235,426 | ||||||
Monster Beverage Corp. (A) | 2,267 | 130,330 | ||||||
PepsiCo, Inc. | 2,985 | 559,568 | ||||||
|
| |||||||
1,727,380 | ||||||||
|
| |||||||
Biotechnology - 1.8% | ||||||||
AbbVie, Inc. | 5,489 | 821,045 | ||||||
Biogen, Inc. (A) | 706 | 190,754 | ||||||
BioMarin Pharmaceutical, Inc. (A) | 537 | 47,218 | ||||||
Neurocrine Biosciences, Inc. (A) | 374 | 38,107 | ||||||
Regeneron Pharmaceuticals, Inc. (A) | 482 | 357,601 | ||||||
Sarepta Therapeutics, Inc. (A) | 546 | 59,181 | ||||||
Vertex Pharmaceuticals, Inc. (A) | 1,116 | 393,211 | ||||||
|
| |||||||
1,907,117 | ||||||||
|
| |||||||
Broadline Retail - 2.2% | ||||||||
Amazon.com, Inc. (A) | 18,115 | 2,421,613 | ||||||
|
| |||||||
Building Products - 0.6% | ||||||||
Masco Corp. | 2,710 | 164,443 | ||||||
Trane Technologies PLC | 2,168 | 432,386 | ||||||
|
| |||||||
596,829 | ||||||||
|
| |||||||
Capital Markets - 1.6% | ||||||||
Charles Schwab Corp. | 1,212 | 80,113 | ||||||
CME Group, Inc. | 2,178 | 433,335 | ||||||
Intercontinental Exchange, Inc. | 2,377 | 272,880 | ||||||
Morgan Stanley | 3,612 | 330,715 | ||||||
Raymond James Financial, Inc. | 1,925 | 211,885 | ||||||
S&P Global, Inc. | 810 | 319,553 | ||||||
State Street Corp. | 1,335 | 96,707 | ||||||
|
| |||||||
1,745,188 | ||||||||
|
|
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Chemicals - 1.3% | ||||||||
Air Products & Chemicals, Inc. | 688 | $ 210,067 | ||||||
Dow, Inc. | 4,479 | 252,929 | ||||||
Eastman Chemical Co. | 2,017 | 172,615 | ||||||
Linde PLC | 1,188 | 464,116 | ||||||
LyondellBasell Industries NV, Class A | 1,327 | 131,187 | ||||||
PPG Industries, Inc. | 1,281 | 184,336 | ||||||
|
| |||||||
1,415,250 | ||||||||
|
| |||||||
Commercial Services & Supplies - 0.1% | ||||||||
Cintas Corp. | 277 | 139,065 | ||||||
|
| |||||||
Communications Equipment - 0.1% | ||||||||
Motorola Solutions, Inc. | 451 | 129,270 | ||||||
|
| |||||||
Consumer Finance - 0.1% | ||||||||
American Express Co. | 933 | 157,565 | ||||||
|
| |||||||
Consumer Staples Distribution & Retail - 0.9% | ||||||||
Costco Wholesale Corp. | 1,230 | 689,624 | ||||||
Walmart, Inc. | 1,922 | 307,251 | ||||||
|
| |||||||
996,875 | ||||||||
|
| |||||||
Distributors - 0.1% | ||||||||
LKQ Corp. | 1,074 | 58,844 | ||||||
|
| |||||||
Diversified Telecommunication Services - 0.0% (B) | ||||||||
AT&T, Inc. | 2,173 | 31,552 | ||||||
|
| |||||||
Electric Utilities - 0.8% | ||||||||
Constellation Energy Corp. | 694 | 67,075 | ||||||
NextEra Energy, Inc. | 7,513 | 550,703 | ||||||
PG&E Corp. (A) | 16,283 | 286,744 | ||||||
|
| |||||||
904,522 | ||||||||
|
| |||||||
Electrical Equipment - 0.4% | ||||||||
Eaton Corp. PLC | 2,185 | 448,624 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components - 0.1% | ||||||||
Corning, Inc. | 2,209 | 74,973 | ||||||
Keysight Technologies, Inc. (A) | 431 | 69,426 | ||||||
|
| |||||||
144,399 | ||||||||
|
| |||||||
Energy Equipment & Services - 0.1% | ||||||||
Baker Hughes Co. | 3,072 | 109,947 | ||||||
|
| |||||||
Entertainment - 0.4% | ||||||||
Netflix, Inc. (A) | 1,026 | 450,383 | ||||||
|
| |||||||
Financial Services - 2.7% | ||||||||
Berkshire Hathaway, Inc., Class B (A) | 2,722 | 958,035 | ||||||
FleetCor Technologies, Inc. (A) | 965 | 240,198 | ||||||
Mastercard, Inc., Class A | 2,586 | 1,019,608 | ||||||
Visa, Inc., Class A | 3,090 | 734,586 | ||||||
|
| |||||||
2,952,427 | ||||||||
|
| |||||||
Food Products - 0.3% | ||||||||
Mondelez International, Inc., Class A | 4,167 | 308,900 | ||||||
|
| |||||||
Ground Transportation - 0.6% | ||||||||
CSX Corp. | 4,157 | 138,511 | ||||||
Norfolk Southern Corp. | 778 | 181,733 | ||||||
Uber Technologies, Inc. (A) | 2,821 | 139,527 | ||||||
Union Pacific Corp. | 981 | 227,612 | ||||||
|
| |||||||
687,383 | ||||||||
|
|
Transamerica Funds | Page 1 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Health Care Equipment & Supplies - 1.6% | ||||||||
Abbott Laboratories | 3,680 | $ 409,694 | ||||||
Baxter International, Inc. | 4,024 | 182,006 | ||||||
Boston Scientific Corp. (A) | 5,494 | 284,864 | ||||||
Dexcom, Inc. (A) | 676 | 84,203 | ||||||
Intuitive Surgical, Inc. (A) | 887 | 287,743 | ||||||
Medtronic PLC | 2,482 | 217,820 | ||||||
ResMed, Inc. | 241 | 53,586 | ||||||
Stryker Corp. | 562 | 159,276 | ||||||
|
| |||||||
1,679,192 | ||||||||
|
| |||||||
Health Care Providers & Services - 1.8% | ||||||||
Centene Corp. (A) | 2,721 | 185,273 | ||||||
CVS Health Corp. | 1,305 | 97,470 | ||||||
Elevance Health, Inc. | 656 | 309,389 | ||||||
Humana, Inc. | 357 | 163,088 | ||||||
McKesson Corp. | 319 | 128,366 | ||||||
UnitedHealth Group, Inc. | 2,124 | 1,075,530 | ||||||
|
| |||||||
1,959,116 | ||||||||
|
| |||||||
Health Care REITs - 0.2% | ||||||||
Ventas, Inc. | 5,170 | 250,848 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure - 1.6% | ||||||||
Booking Holdings, Inc. (A) | 148 | 439,679 | ||||||
Chipotle Mexican Grill, Inc. (A) | 212 | 416,003 | ||||||
Domino’s Pizza, Inc. | 224 | 88,870 | ||||||
Expedia Group, Inc. (A) | 1,796 | 220,064 | ||||||
Marriott International, Inc., Class A | 1,141 | 230,265 | ||||||
Royal Caribbean Cruises Ltd. (A) | 366 | 39,934 | ||||||
Yum! Brands, Inc. | 1,791 | 246,567 | ||||||
|
| |||||||
1,681,382 | ||||||||
|
| |||||||
Household Durables - 0.2% | ||||||||
Lennar Corp., Class A | 489 | 62,020 | ||||||
Toll Brothers, Inc. | 1,057 | 84,909 | ||||||
Whirlpool Corp. | 259 | 37,363 | ||||||
|
| |||||||
184,292 | ||||||||
|
| |||||||
Household Products - 0.7% | ||||||||
Church & Dwight Co., Inc. | 1,533 | 146,662 | ||||||
Colgate-Palmolive Co. | 1,909 | 145,580 | ||||||
Procter & Gamble Co. | 2,910 | 454,833 | ||||||
|
| |||||||
747,075 | ||||||||
|
| |||||||
Industrial Conglomerates - 0.6% | ||||||||
Honeywell International, Inc. | 3,603 | 699,450 | ||||||
|
| |||||||
Industrial REITs - 0.4% | ||||||||
Prologis, Inc. | 3,623 | 451,969 | ||||||
|
| |||||||
Insurance - 1.1% | ||||||||
Aflac, Inc. | 1,951 | 141,135 | ||||||
Chubb Ltd. | 162 | 33,115 | ||||||
Globe Life, Inc. | 1,704 | 191,138 | ||||||
MetLife, Inc. | 67 | 4,219 | ||||||
Progressive Corp. | 3,897 | 490,944 | ||||||
Travelers Cos., Inc. | 2,140 | 369,385 | ||||||
|
| |||||||
1,229,936 | ||||||||
|
| |||||||
Interactive Media & Services - 3.7% | ||||||||
Alphabet, Inc., Class A (A) | 10,398 | 1,380,023 | ||||||
Alphabet, Inc., Class C (A) | 8,644 | 1,150,603 | ||||||
Meta Platforms, Inc., Class A (A) | 4,502 | 1,434,337 | ||||||
|
| |||||||
3,964,963 | ||||||||
|
|
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
IT Services - 0.7% | ||||||||
Accenture PLC, Class A | 1,593 | $ 503,945 | ||||||
Cognizant Technology Solutions Corp., Class A | 3,764 | 248,537 | ||||||
|
| |||||||
752,482 | ||||||||
|
| |||||||
Life Sciences Tools & Services - 0.9% | ||||||||
Danaher Corp. | 1,606 | 409,626 | ||||||
Thermo Fisher Scientific, Inc. | 1,106 | 606,818 | ||||||
|
| |||||||
1,016,444 | ||||||||
|
| |||||||
Machinery - 1.2% | ||||||||
Deere & Co. | 1,175 | 504,780 | ||||||
Dover Corp. | 1,053 | 153,707 | ||||||
Otis Worldwide Corp. | 2,978 | 270,879 | ||||||
Parker-Hannifin Corp. | 932 | 382,129 | ||||||
|
| |||||||
1,311,495 | ||||||||
|
| |||||||
Media - 0.8% | ||||||||
Charter Communications, Inc., Class A (A) | 827 | 335,092 | ||||||
Comcast Corp., Class A | 11,059 | 500,530 | ||||||
|
| |||||||
835,622 | ||||||||
|
| |||||||
Metals & Mining - 0.2% | ||||||||
Freeport-McMoRan, Inc. | 2,430 | 108,499 | ||||||
Nucor Corp. | 639 | 109,966 | ||||||
|
| |||||||
218,465 | ||||||||
|
| |||||||
Multi-Utilities - 0.7% | ||||||||
Ameren Corp. | 798 | 68,365 | ||||||
CenterPoint Energy, Inc. | 5,183 | 155,956 | ||||||
CMS Energy Corp. | 1,244 | 75,971 | ||||||
Dominion Energy, Inc. | 2,164 | 115,882 | ||||||
Public Service Enterprise Group, Inc. | 6,166 | 389,198 | ||||||
|
| |||||||
805,372 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 2.6% | ||||||||
Chevron Corp. | 1,958 | 320,446 | ||||||
ConocoPhillips | 5,509 | 648,520 | ||||||
Diamondback Energy, Inc. | 2,501 | 368,447 | ||||||
EOG Resources, Inc. | 3,656 | 484,530 | ||||||
Exxon Mobil Corp. | 7,806 | 837,115 | ||||||
Marathon Oil Corp. | 5,106 | 134,135 | ||||||
|
| |||||||
2,793,193 | ||||||||
|
| |||||||
Passenger Airlines - 0.2% | ||||||||
Delta Air Lines, Inc. | 1,140 | 52,736 | ||||||
Southwest Airlines Co. | 3,090 | 105,555 | ||||||
|
| |||||||
158,291 | ||||||||
|
| |||||||
Personal Care Products - 0.0% (B) | ||||||||
Kenvue, Inc. (A) | 617 | 14,611 | ||||||
|
| |||||||
Pharmaceuticals - 2.1% | ||||||||
Bristol-Myers Squibb Co. | 9,009 | 560,270 | ||||||
Eli Lilly & Co. | 1,303 | 592,279 | ||||||
Johnson & Johnson | 4,746 | 795,097 | ||||||
Merck & Co., Inc. | 2,984 | 318,243 | ||||||
|
| |||||||
2,265,889 | ||||||||
|
| |||||||
Professional Services - 0.2% | ||||||||
Booz Allen Hamilton Holding Corp. | 514 | 62,235 | ||||||
Leidos Holdings, Inc. | 1,504 | 140,669 | ||||||
|
| |||||||
202,904 | ||||||||
|
|
Transamerica Funds | Page 2 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Residential REITs - 0.4% | ||||||||
Equity LifeStyle Properties, Inc. | 1,752 | $ 124,707 | ||||||
Sun Communities, Inc. | 1,116 | 145,415 | ||||||
UDR, Inc. | 3,434 | 140,382 | ||||||
|
| |||||||
410,504 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 5.1% | ||||||||
Advanced Micro Devices, Inc. (A) | 4,906 | 561,247 | ||||||
Analog Devices, Inc. | 2,978 | 594,200 | ||||||
Broadcom, Inc. | 129 | 115,926 | ||||||
Lam Research Corp. | 859 | 617,183 | ||||||
NVIDIA Corp. | 4,328 | 2,022,431 | ||||||
NXP Semiconductors NV | 2,773 | 618,324 | ||||||
Qorvo, Inc. (A) | 1,206 | 132,684 | ||||||
Teradyne, Inc. | 1,527 | 172,459 | ||||||
Texas Instruments, Inc. | 3,909 | 703,620 | ||||||
|
| |||||||
5,538,074 | ||||||||
|
| |||||||
Software - 6.3% | ||||||||
Adobe, Inc. (A) | 1,545 | 843,833 | ||||||
Cadence Design Systems, Inc. (A) | 535 | 125,195 | ||||||
DocuSign, Inc. (A) | 473 | 25,457 | ||||||
Intuit, Inc. | 861 | 440,574 | ||||||
Microsoft Corp. | 13,763 | 4,623,267 | ||||||
Oracle Corp. | 2,524 | 295,888 | ||||||
Salesforce, Inc. (A) | 1,096 | 246,611 | ||||||
ServiceNow, Inc. (A) | 286 | 166,738 | ||||||
|
| |||||||
6,767,563 | ||||||||
|
| |||||||
Specialized REITs - 0.4% | ||||||||
Equinix, Inc. | 233 | 188,712 | ||||||
SBA Communications Corp. | 974 | 213,257 | ||||||
|
| |||||||
401,969 | ||||||||
|
| |||||||
Specialty Retail - 1.7% | ||||||||
AutoNation, Inc. (A) | 748 | 120,413 | ||||||
AutoZone, Inc. (A) | 140 | 347,441 | ||||||
Best Buy Co., Inc. | 2,536 | 210,615 | ||||||
Burlington Stores, Inc. (A) | 601 | 106,750 | ||||||
Lowe’s Cos., Inc. | 3,042 | 712,649 | ||||||
O’Reilly Automotive, Inc. (A) | 109 | 100,911 | ||||||
TJX Cos., Inc. | 2,617 | 226,449 | ||||||
|
| |||||||
1,825,228 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals - 4.9% | ||||||||
Apple, Inc. | 26,020 | 5,111,629 | ||||||
Seagate Technology Holdings PLC | 3,285 | 208,598 | ||||||
|
| |||||||
5,320,227 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods - 0.3% | ||||||||
NIKE, Inc., Class B | 2,774 | 306,222 | ||||||
|
| |||||||
Tobacco - 0.3% | ||||||||
Altria Group, Inc. | 2,150 | 97,653 | ||||||
Philip Morris International, Inc. | 1,925 | 191,961 | ||||||
|
| |||||||
289,614 | ||||||||
|
| |||||||
Wireless Telecommunication Services - 0.1% | ||||||||
T-Mobile US, Inc. (A) | 1,086 | 149,618 | ||||||
|
| |||||||
Total Common Stocks |
| 67,030,943 | ||||||
|
|
Shares | Value | |||||||
PREFERRED STOCKS - 0.1% | ||||||||
Banks - 0.1% | ||||||||
Citigroup Capital XIII, | ||||||||
3-Month Term SOFR + 6.63%, | 2,950 | $ 85,521 | ||||||
|
| |||||||
Electric Utilities - 0.0% (B) | ||||||||
SCE Trust III, | ||||||||
Series H, Fixed until 03/15/2024, | 320 | 7,520 | ||||||
|
| |||||||
Total Preferred Stocks |
| 93,041 | ||||||
|
| |||||||
Principal | Value | |||||||
ASSET-BACKED SECURITIES - 2.4% | ||||||||
Accelerated LLC | ||||||||
Series 2021-1H, Class A, | ||||||||
1.35%, 10/20/2040 (E) | $ 38,483 | 34,645 | ||||||
BRE Grand Islander Timeshare Issuer LLC | ||||||||
Series 2017-1A, Class A, | ||||||||
2.94%, 05/25/2029 (E) | 13,365 | 13,034 | ||||||
BXG Receivables Note Trust | ||||||||
Series 2023-A, Class A, | ||||||||
5.77%, 11/15/2038 (E) | 98,308 | 97,115 | ||||||
CIFC Funding Ltd. | ||||||||
Series 2013-2A, Class A1L2, | ||||||||
3-Month Term SOFR + 1.26%, | ||||||||
6.57% (C), 10/18/2030 (E) | 342,482 | 341,129 | ||||||
GoodLeap Sustainable Home Solutions Trust | ||||||||
Series 2021-4GS, Class A, | ||||||||
1.93%, 07/20/2048 (E) | 78,467 | 59,312 | ||||||
Series 2022-1GS, Class A, | ||||||||
2.70%, 01/20/2049 (E) | 213,626 | 169,773 | ||||||
JGWPT XXVI LLC | ||||||||
Series 2012-2A, Class A, | ||||||||
3.84%, 10/15/2059 (E) | 103,795 | 90,897 | ||||||
JGWPT XXVIII LLC | ||||||||
Series 2013-1A, Class A, | ||||||||
3.22%, 04/15/2067 (E) | 109,209 | 93,436 | ||||||
Laurel Road Prime Student Loan Trust | ||||||||
Series 2018-B, Class A2FX, | ||||||||
3.54%, 05/26/2043 (E) | 4,147 | 4,082 | ||||||
MVW Owner Trust | ||||||||
Series 2023-1A, Class A, | ||||||||
4.93%, 10/20/2040 (E) | 94,829 | 92,965 | ||||||
New Residential Advance Receivables Trust | ||||||||
Series 2020-T1, Class AT1, | ||||||||
1.43%, 08/15/2053 (E) | 330,000 | 329,085 | ||||||
NRZ Advance Receivables Trust | ||||||||
Series 2020-T2, Class AT2, | ||||||||
1.48%, 09/15/2053 (E) | 330,000 | 327,301 | ||||||
Octagon Investment Partners 33 Ltd. | ||||||||
Series 2017-1A, Class A1, | ||||||||
3-Month Term SOFR + 1.45%, | ||||||||
6.78% (C), 01/20/2031 (E) | 194,355 | 193,938 | ||||||
Orange Lake Timeshare Trust | ||||||||
Series 2016-A, Class A, | ||||||||
2.61%, 03/08/2029 (E) | 19,411 | 18,725 | ||||||
Series 2019-A, Class A, | ||||||||
3.06%, 04/09/2038 (E) | 42,518 | 40,755 |
Transamerica Funds | Page 3 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
ASSET-BACKED SECURITIES (continued) | ||||||||
Palmer Square CLO Ltd. | ||||||||
Series 2015-2A, Class A1R2, | ||||||||
3-Month Term SOFR + 1.36%, | ||||||||
6.69% (C), 07/20/2030 (E) | $ 197,087 | $ 196,640 | ||||||
Sierra Timeshare Receivables Funding LLC | ||||||||
5.80%, 04/20/2040 (E) | 100,000 | 100,432 | ||||||
Series 2021-1A, Class A, | ||||||||
0.99%, 11/20/2037 (E) | 55,794 | 51,754 | ||||||
Series 2023-1A, Class A, | ||||||||
5.20%, 01/20/2040 (E) | 83,047 | 81,628 | ||||||
Trafigura Securitisation Finance PLC | ||||||||
Series 2021-1A, Class A2, | ||||||||
1.08%, 01/15/2025 (E) | 130,000 | 121,149 | ||||||
Veridian Auto Receivables Trust | ||||||||
Series 2023-1A, Class A2, | ||||||||
5.97%, 08/17/2026 (E) | 100,000 | 99,725 | ||||||
|
| |||||||
Total Asset-Backed Securities |
| 2,557,520 | ||||||
|
| |||||||
CORPORATE DEBT SECURITIES - 13.4% | ||||||||
Aerospace & Defense - 0.3% | ||||||||
Boeing Co. | ||||||||
3.50%, 03/01/2039 | 91,000 | 68,979 | ||||||
5.15%, 05/01/2030 | 85,000 | 84,215 | ||||||
HEICO Corp. | ||||||||
5.35%, 08/01/2033 (D) | 64,000 | 63,594 | ||||||
Huntington Ingalls Industries, Inc. | ||||||||
2.04%, 08/16/2028 | 108,000 | 91,408 | ||||||
|
| |||||||
308,196 | ||||||||
|
| |||||||
Air Freight & Logistics - 0.1% | ||||||||
GXO Logistics, Inc. | ||||||||
2.65%, 07/15/2031 | 153,000 | 119,321 | ||||||
|
| |||||||
Automobile Components - 0.1% | ||||||||
Aptiv PLC/Aptiv Corp. | ||||||||
3.25%, 03/01/2032 | 54,000 | 46,191 | ||||||
BorgWarner, Inc. | ||||||||
3.38%, 03/15/2025 | 36,000 | 34,673 | ||||||
|
| |||||||
80,864 | ||||||||
|
| |||||||
Automobiles - 0.4% | ||||||||
BMW US Capital LLC | ||||||||
2.80%, 04/11/2026 (E) | 65,000 | 61,472 | ||||||
Ford Motor Co. | ||||||||
4.35%, 12/08/2026 (D) | 63,000 | 61,402 | ||||||
General Motors Co. | ||||||||
6.25%, 10/02/2043 | 15,000 | 14,724 | ||||||
General Motors Financial Co., Inc. | ||||||||
5.00%, 04/09/2027 | 70,000 | 68,728 | ||||||
Volkswagen Group of America Finance LLC | ||||||||
1.63%, 11/24/2027 (E) | 200,000 | 172,117 | ||||||
|
| |||||||
378,443 | ||||||||
|
| |||||||
Banks - 2.3% | ||||||||
Bank of America Corp. | ||||||||
Fixed until 04/24/2027, | 71,000 | 66,573 | ||||||
Fixed until 04/25/2033, | 232,000 | 229,900 | ||||||
Barclays PLC | ||||||||
Fixed until 11/02/2025, | 203,000 | 208,337 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Banks (continued) | ||||||||
Citigroup, Inc. | ||||||||
Fixed until 05/25/2033, | $ 80,000 | $ 81,146 | ||||||
Commerzbank AG | ||||||||
8.13%, 09/19/2023 (E) | 255,000 | 254,694 | ||||||
Fifth Third Bancorp | ||||||||
Fixed until 07/27/2028, | 23,000 | 23,404 | ||||||
Goldman Sachs Group, Inc. | ||||||||
Fixed until 02/24/2032, | 122,000 | 102,738 | ||||||
Intesa Sanpaolo SpA | ||||||||
5.02%, 06/26/2024 (E) | 65,000 | 63,508 | ||||||
Fixed until 11/21/2032, | 200,000 | 212,661 | ||||||
JPMorgan Chase & Co. | ||||||||
Fixed until 04/22/2026, | 106,000 | 95,409 | ||||||
Fixed until 02/01/2027, | 59,000 | 55,899 | ||||||
Fixed until 06/01/2033, | 85,000 | 85,518 | ||||||
Fixed until 09/14/2032, | 92,000 | 93,357 | ||||||
Northern Trust Corp. | ||||||||
6.13%, 11/02/2032 | 118,000 | 122,840 | ||||||
PNC Financial Services Group, Inc. | ||||||||
Fixed until 01/24/2033, | 85,000 | 82,055 | ||||||
Truist Financial Corp. | ||||||||
Fixed until 01/26/2033, | 129,000 | 123,240 | ||||||
Fixed until 06/08/2033, | 43,000 | 43,342 | ||||||
UBS Group AG | ||||||||
Fixed until 08/12/2032, | 262,000 | 273,345 | ||||||
US Bancorp | ||||||||
Fixed until 06/10/2033, | 113,000 | 114,496 | ||||||
Wells Fargo & Co. | ||||||||
Fixed until 07/25/2033, | 114,000 | 114,478 | ||||||
Fixed until 06/15/2024 (F), | 40,000 | 39,588 | ||||||
|
| |||||||
2,486,528 | ||||||||
|
| |||||||
Beverages - 0.1% | ||||||||
Anheuser-Busch InBev Worldwide, Inc. | ||||||||
4.44%, 10/06/2048 | 90,000 | 79,954 | ||||||
Constellation Brands, Inc. | ||||||||
3.15%, 08/01/2029 | 63,000 | 56,772 | ||||||
3.70%, 12/06/2026 | 16,000 | 15,311 | ||||||
|
| |||||||
152,037 | ||||||||
|
| |||||||
Biotechnology - 0.3% | ||||||||
AbbVie, Inc. | ||||||||
3.20%, 05/14/2026 | 47,000 | 44,760 | ||||||
4.05%, 11/21/2039 | 40,000 | 34,766 | ||||||
Amgen, Inc. | ||||||||
2.00%, 01/15/2032 | 40,000 | 31,638 | ||||||
5.60%, 03/02/2043 | 48,000 | 47,665 |
Transamerica Funds | Page 4 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Biotechnology (continued) | ||||||||
CSL Finance PLC | ||||||||
4.63%, 04/27/2042 (E) | $ 48,000 | $ 43,972 | ||||||
Gilead Sciences, Inc. | ||||||||
4.15%, 03/01/2047 | 24,000 | 20,553 | ||||||
Royalty Pharma PLC | ||||||||
2.20%, 09/02/2030 | 77,000 | 61,944 | ||||||
|
| |||||||
285,298 | ||||||||
|
| |||||||
Building Products - 0.2% | ||||||||
Carlisle Cos., Inc. | ||||||||
2.20%, 03/01/2032 | 77,000 | 60,900 | ||||||
3.75%, 12/01/2027 | 72,000 | 67,998 | ||||||
Lowe’s Cos., Inc. | ||||||||
3.75%, 04/01/2032 | 80,000 | 72,489 | ||||||
|
| |||||||
201,387 | ||||||||
|
| |||||||
Capital Markets - 0.3% | ||||||||
Charles Schwab Corp. | ||||||||
Fixed until 05/19/2033, | 141,000 | 144,935 | ||||||
Morgan Stanley | ||||||||
Fixed until 04/21/2033, | 19,000 | 18,731 | ||||||
Fixed until 07/21/2033, | 57,000 | 56,930 | ||||||
Fixed until 10/18/2032, | 77,000 | 81,851 | ||||||
|
| |||||||
302,447 | ||||||||
|
| |||||||
Chemicals - 0.1% | ||||||||
FMC Corp. | ||||||||
5.65%, 05/18/2033 | 46,000 | 44,355 | ||||||
International Flavors & Fragrances, Inc. | ||||||||
2.30%, 11/01/2030 (E) | 74,000 | 58,911 | ||||||
Nutrien Ltd. | ||||||||
4.90%, 03/27/2028 | 50,000 | 49,132 | ||||||
|
| |||||||
152,398 | ||||||||
|
| |||||||
Commercial Services & Supplies - 0.7% | ||||||||
ADT Security Corp. | ||||||||
4.13%, 08/01/2029 (D ) (E) | 79,000 | 68,533 | ||||||
Ashtead Capital, Inc. | ||||||||
4.25%, 11/01/2029 (E) | 200,000 | 182,545 | ||||||
Element Fleet Management Corp. | ||||||||
6.27%, 06/26/2026 (E) | 126,000 | 126,562 | ||||||
General Electric Co. | ||||||||
4.13%, 10/09/2042 | 48,000 | 39,296 | ||||||
4.50%, 03/11/2044 | 79,000 | 69,673 | ||||||
Quanta Services, Inc. | ||||||||
2.90%, 10/01/2030 | 56,000 | 47,584 | ||||||
Republic Services, Inc. | ||||||||
5.00%, 04/01/2034 | 66,000 | 65,494 | ||||||
Triton Container International Ltd./TAL International Container Corp. | ||||||||
3.25%, 03/15/2032 | 160,000 | 124,117 | ||||||
|
| |||||||
723,804 | ||||||||
|
| |||||||
Consumer Staples Distribution & Retail - 0.1% | ||||||||
7-Eleven, Inc. | ||||||||
1.80%, 02/10/2031 (E) | 73,000 | 57,597 | ||||||
Sysco Corp. | ||||||||
3.30%, 07/15/2026 | 104,000 | 98,975 | ||||||
|
| |||||||
156,572 | ||||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Containers & Packaging - 0.1% | ||||||||
Sonoco Products Co. | ||||||||
2.25%, 02/01/2027 | $ 64,000 | $ 57,152 | ||||||
|
| |||||||
Distributors - 0.0% (B) | ||||||||
LKQ Corp. | ||||||||
6.25%, 06/15/2033 (D) (E) | 47,000 | 47,273 | ||||||
|
| |||||||
Diversified REITs - 0.6% | ||||||||
Broadstone Net Lease LLC | ||||||||
2.60%, 09/15/2031 | 96,000 | 69,606 | ||||||
SBA Tower Trust | ||||||||
1.63%, 05/15/2051 (E) | 110,000 | 95,494 | ||||||
1.88%, 07/15/2050 (E) | 56,000 | 50,420 | ||||||
2.84%, 01/15/2050 (E) | 300,000 | 285,752 | ||||||
VICI Properties LP | ||||||||
4.95%, 02/15/2030 | 118,000 | 111,632 | ||||||
|
| |||||||
612,904 | ||||||||
|
| |||||||
Diversified Telecommunication Services - 0.2% | ||||||||
Sprint Capital Corp. | ||||||||
6.88%, 11/15/2028 | 24,000 | 25,450 | ||||||
Verizon Communications, Inc. | ||||||||
1.68%, 10/30/2030 | 177,000 | 138,987 | ||||||
2.99%, 10/30/2056 | 105,000 | 64,543 | ||||||
|
| |||||||
228,980 | ||||||||
|
| |||||||
Electric Utilities - 0.6% | ||||||||
Appalachian Power Co. | ||||||||
3.40%, 06/01/2025 | 66,000 | 63,325 | ||||||
Black Hills Corp. | ||||||||
4.25%, 11/30/2023 | 71,000 | 70,559 | ||||||
Cleveland Electric Illuminating Co. | ||||||||
5.95%, 12/15/2036 | 34,000 | 33,500 | ||||||
CMS Energy Corp. | ||||||||
3.88%, 03/01/2024 | 17,000 | 16,801 | ||||||
4.88%, 03/01/2044 | 26,000 | 23,643 | ||||||
DTE Electric Co. | ||||||||
4.30%, 07/01/2044 | 101,000 | 86,431 | ||||||
Duke Energy Corp. | ||||||||
3.75%, 04/15/2024 - 09/01/2046 | 108,000 | 83,875 | ||||||
Duke Energy Progress LLC | ||||||||
3.60%, 09/15/2047 | 64,000 | 48,604 | ||||||
Entergy Arkansas LLC | ||||||||
3.70%, 06/01/2024 | 48,000 | 47,158 | ||||||
Oncor Electric Delivery Co. LLC | ||||||||
5.30%, 06/01/2042 | 20,000 | 20,056 | ||||||
Pacific Gas & Electric Co. | ||||||||
2.50%, 02/01/2031 | 69,000 | 54,463 | ||||||
PacifiCorp | ||||||||
3.60%, 04/01/2024 | 61,000 | 60,121 | ||||||
Public Service Electric & Gas Co. | ||||||||
3.00%, 05/15/2025 | 49,000 | 47,057 | ||||||
|
| |||||||
655,593 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components - 0.2% | ||||||||
Arrow Electronics, Inc. | ||||||||
2.95%, 02/15/2032 | 85,000 | 69,186 | ||||||
Keysight Technologies, Inc. | ||||||||
4.60%, 04/06/2027 | 63,000 | 62,069 | ||||||
Sensata Technologies, Inc. | ||||||||
4.38%, 02/15/2030 (E) | 50,000 | 44,449 | ||||||
Trimble, Inc. | ||||||||
6.10%, 03/15/2033 | 70,000 | 71,045 | ||||||
|
| |||||||
246,749 | ||||||||
|
|
Transamerica Funds | Page 5 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 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 | $ 85,556 | ||||||
Schlumberger Investment SA | ||||||||
3.65%, 12/01/2023 | 26,000 | 25,817 | ||||||
|
| |||||||
111,373 | ||||||||
|
| |||||||
Financial Services - 0.5% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
4.45%, 04/03/2026 | 150,000 | 143,957 | ||||||
Aviation Capital Group LLC | ||||||||
1.95%, 01/30/2026 (E) | 49,000 | 44,013 | ||||||
5.50%, 12/15/2024 (E) | 147,000 | 144,413 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
2.88%, 02/15/2025 (E) | 121,000 | 113,702 | ||||||
5.50%, 01/15/2026 (E) | 47,000 | 45,792 | ||||||
|
| |||||||
491,877 | ||||||||
|
| |||||||
Food Products - 0.3% | ||||||||
Bunge Ltd. Finance Corp. | ||||||||
2.75%, 05/14/2031 | 94,000 | 79,418 | ||||||
Cargill, Inc. | ||||||||
5.13%, 10/11/2032 (E) | 49,000 | 49,454 | ||||||
Viterra Finance BV | ||||||||
4.90%, 04/21/2027 (E) | 200,000 | 193,436 | ||||||
|
| |||||||
322,308 | ||||||||
|
| |||||||
Health Care Equipment & Supplies - 0.3% | ||||||||
Alcon Finance Corp. | ||||||||
2.75%, 09/23/2026 (E) | 200,000 | 184,460 | ||||||
GE HealthCare Technologies, Inc. | ||||||||
5.86%, 03/15/2030 | 100,000 | 102,563 | ||||||
|
| |||||||
287,023 | ||||||||
|
| |||||||
Health Care Providers & Services - 0.5% | ||||||||
Centene Corp. | ||||||||
3.00%, 10/15/2030 | 80,000 | 66,821 | ||||||
3.38%, 02/15/2030 | 60,000 | 51,605 | ||||||
Cigna Group | ||||||||
2.40%, 03/15/2030 | 61,000 | 51,682 | ||||||
CVS Health Corp. | ||||||||
2.70%, 08/21/2040 | 50,000 | 34,642 | ||||||
5.25%, 01/30/2031 | 31,000 | 30,968 | ||||||
Elevance Health, Inc. | ||||||||
2.25%, 05/15/2030 | 61,000 | 51,077 | ||||||
5.13%, 02/15/2053 | 49,000 | 47,089 | ||||||
HCA, Inc. | ||||||||
4.13%, 06/15/2029 | 28,000 | 25,958 | ||||||
5.25%, 04/15/2025 | 16,000 | 15,859 | ||||||
5.50%, 06/15/2047 | 50,000 | 46,615 | ||||||
Laboratory Corp. of America Holdings | ||||||||
2.95%, 12/01/2029 | 51,000 | 44,834 | ||||||
Molina Healthcare, Inc. | ||||||||
4.38%, 06/15/2028 (E) | 16,000 | 14,672 | ||||||
UnitedHealth Group, Inc. | ||||||||
5.20%, 04/15/2063 | 74,000 | 72,782 | ||||||
|
| |||||||
554,604 | ||||||||
|
| |||||||
Health Care REITs - 0.1% | ||||||||
Physicians Realty LP | ||||||||
2.63%, 11/01/2031 | 94,000 | 73,231 | ||||||
Ventas Realty LP | ||||||||
3.25%, 10/15/2026 | 67,000 | 61,761 | ||||||
|
| |||||||
134,992 | ||||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Hotels, Restaurants & Leisure - 0.1% | ||||||||
Hyatt Hotels Corp. | ||||||||
1.80%, 10/01/2024 | $ 41,000 | $ 39,263 | ||||||
Warnermedia Holdings, Inc. | ||||||||
5.05%, 03/15/2042 | 114,000 | 94,824 | ||||||
|
| |||||||
134,087 | ||||||||
|
| |||||||
Insurance - 0.6% | ||||||||
Aon Corp./Aon Global Holdings PLC | ||||||||
5.00%, 09/12/2032 | 107,000 | 105,594 | ||||||
Equitable Holdings, Inc. | ||||||||
5.59%, 01/11/2033 | 127,000 | 125,506 | ||||||
Global Atlantic Finance Co. | ||||||||
7.95%, 06/15/2033 (E) | 119,000 | 119,151 | ||||||
Ohio National Financial Services, Inc. | ||||||||
6.80%, 01/24/2030 (E) | 224,000 | 208,208 | ||||||
Prudential Financial, Inc. | ||||||||
Fixed until 07/01/2030, | 94,000 | 80,314 | ||||||
|
| |||||||
638,773 | ||||||||
|
| |||||||
Interactive Media & Services - 0.3% | ||||||||
Baidu, Inc. | ||||||||
4.38%, 05/14/2024 (D) | 200,000 | 197,550 | ||||||
Meta Platforms, Inc. | ||||||||
4.80%, 05/15/2030 | 76,000 | 76,202 | ||||||
Tencent Holdings Ltd. | ||||||||
3.28%, 04/11/2024 (E) | 97,000 | 95,360 | ||||||
|
| |||||||
369,112 | ||||||||
|
| |||||||
Internet & Catalog Retail - 0.1% | ||||||||
Expedia Group, Inc. | ||||||||
2.95%, 03/15/2031 | 6,000 | 5,051 | ||||||
3.80%, 02/15/2028 | 65,000 | 61,066 | ||||||
|
| |||||||
66,117 | ||||||||
|
| |||||||
Machinery - 0.0% (B) | ||||||||
CNH Industrial Capital LLC | ||||||||
4.55%, 04/10/2028 | 42,000 | 40,733 | ||||||
|
| |||||||
Media - 0.1% | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
4.80%, 03/01/2050 | 44,000 | 33,294 | ||||||
Clear Channel Outdoor Holdings, Inc. | ||||||||
5.13%, 08/15/2027 (D) (E) | 35,000 | 32,148 | ||||||
Comcast Corp. | ||||||||
2.94%, 11/01/2056 | 17,000 | 10,931 | ||||||
NBCUniversal Media LLC | ||||||||
4.45%, 01/15/2043 | 24,000 | 21,368 | ||||||
Paramount Global | ||||||||
4.20%, 05/19/2032 (D) | 20,000 | 16,629 | ||||||
|
| |||||||
114,370 | ||||||||
|
| |||||||
Metals & Mining - 0.3% | ||||||||
Anglo American Capital PLC | ||||||||
4.50%, 03/15/2028 (E) | 200,000 | 190,965 | ||||||
ArcelorMittal SA | ||||||||
6.55%, 11/29/2027 | 101,000 | 104,282 | ||||||
Glencore Funding LLC | ||||||||
2.63%, 09/23/2031 (E) | 82,000 | 65,765 | ||||||
|
| |||||||
361,012 | ||||||||
|
|
Transamerica Funds | Page 6 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Office REITs - 0.1% | ||||||||
Corporate Office Properties LP | ||||||||
2.25%, 03/15/2026 | $ 35,000 | $ 31,152 | ||||||
Highwoods Realty LP | ||||||||
4.13%, 03/15/2028 | 47,000 | 42,190 | ||||||
Office Properties Income Trust | ||||||||
3.45%, 10/15/2031 | 19,000 | 9,996 | ||||||
|
| |||||||
83,338 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 1.0% | ||||||||
Boardwalk Pipelines LP | ||||||||
3.40%, 02/15/2031 | 46,000 | 39,751 | ||||||
Chevron USA, Inc. | ||||||||
3.25%, 10/15/2029 | 47,000 | 43,449 | ||||||
Energy Transfer LP | ||||||||
4.90%, 02/01/2024 | 41,000 | 40,696 | ||||||
5.15%, 03/15/2045 | 75,000 | 64,661 | ||||||
5.55%, 02/15/2028 | 43,000 | 43,170 | ||||||
5.95%, 10/01/2043 | 28,000 | 26,340 | ||||||
Enterprise Products Operating LLC | ||||||||
4.25%, 02/15/2048 | 104,000 | 87,196 | ||||||
Kinder Morgan Energy Partners LP | ||||||||
4.15%, 02/01/2024 | 52,000 | 51,523 | ||||||
Occidental Petroleum Corp. | ||||||||
5.55%, 03/15/2026 | 62,000 | 61,674 | ||||||
ONEOK, Inc. | ||||||||
6.10%, 11/15/2032 | 100,000 | 101,971 | ||||||
Ovintiv, Inc. | ||||||||
6.25%, 07/15/2033 | 67,000 | 67,609 | ||||||
Petroleos Mexicanos | ||||||||
6.84%, 01/23/2030 | 139,000 | 112,051 | ||||||
7.69%, 01/23/2050 (D) | 17,000 | 11,803 | ||||||
Pioneer Natural Resources Co. | ||||||||
2.15%, 01/15/2031 | 90,000 | 73,639 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. | ||||||||
3.55%, 12/15/2029 | 52,000 | 45,912 | ||||||
Sabine Pass Liquefaction LLC | ||||||||
4.20%, 03/15/2028 | 41,000 | 38,980 | ||||||
Shell International Finance BV | ||||||||
2.50%, 09/12/2026 | 103,000 | 96,082 | ||||||
3.75%, 09/12/2046 | 30,000 | 24,287 | ||||||
Western Midstream Operating LP | ||||||||
6.15%, 04/01/2033 | 69,000 | 69,976 | ||||||
Williams Cos., Inc. | ||||||||
5.40%, 03/04/2044 | 28,000 | 25,685 | ||||||
|
| |||||||
1,126,455 | ||||||||
|
| |||||||
Passenger Airlines - 0.1% | ||||||||
American Airlines Pass-Through Trust | ||||||||
3.20%, 12/15/2029 | 44,039 | 39,614 | ||||||
United Airlines Pass-Through Trust | ||||||||
3.75%, 03/03/2028 | 51,092 | 47,994 | ||||||
|
| |||||||
87,608 | ||||||||
|
| |||||||
Personal Care Products - 0.1% | ||||||||
Kenvue, Inc. | ||||||||
5.00%, 03/22/2030 (E) | 112,000 | 112,869 | ||||||
|
| |||||||
Pharmaceuticals - 0.2% | ||||||||
Merck & Co., Inc. | ||||||||
5.00%, 05/17/2053 | 87,000 | 87,194 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Pharmaceuticals (continued) | ||||||||
Pfizer Investment Enterprises Pte Ltd. | ||||||||
5.11%, 05/19/2043 | $ 75,000 | $ 74,326 | ||||||
Viatris, Inc. | ||||||||
2.30%, 06/22/2027 | 76,000 | 66,750 | ||||||
|
| |||||||
228,270 | ||||||||
|
| |||||||
Professional Services - 0.1% | ||||||||
Equifax, Inc. | ||||||||
2.60%, 12/01/2024 | 52,000 | 49,718 | ||||||
5.10%, 12/15/2027 | 79,000 | 78,340 | ||||||
|
| |||||||
128,058 | ||||||||
|
| |||||||
Residential REITs - 0.0% (B) | ||||||||
Invitation Homes Operating Partnership LP | ||||||||
4.15%, 04/15/2032 | 48,000 | 43,337 | ||||||
|
| |||||||
Retail REITs - 0.1% | ||||||||
Realty Income Corp. | ||||||||
4.90%, 07/15/2033 | 75,000 | 72,095 | ||||||
Simon Property Group LP | ||||||||
5.50%, 03/08/2033 | 69,000 | 68,882 | ||||||
|
| |||||||
140,977 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 0.7% | ||||||||
Advanced Micro Devices, Inc. | ||||||||
3.92%, 06/01/2032 | 115,000 | 108,083 | ||||||
Broadcom, Inc. | ||||||||
1.95%, 02/15/2028 (E) | 31,000 | 26,768 | ||||||
Foundry JV Holdco LLC | ||||||||
5.88%, 01/25/2034 (E) | 200,000 | 197,687 | ||||||
KLA Corp. | ||||||||
3.30%, 03/01/2050 | 80,000 | 59,188 | ||||||
Microchip Technology, Inc. | ||||||||
0.98%, 09/01/2024 | 70,000 | 66,438 | ||||||
NXP BV/NXP Funding LLC/NXP USA, Inc. | ||||||||
3.25%, 11/30/2051 | 39,000 | 25,887 | ||||||
3.40%, 05/01/2030 | 75,000 | 66,407 | ||||||
QUALCOMM, Inc. | ||||||||
3.25%, 05/20/2050 (D) | 65,000 | 48,853 | ||||||
Skyworks Solutions, Inc. | ||||||||
1.80%, 06/01/2026 | 39,000 | 34,880 | ||||||
TSMC Global Ltd. | ||||||||
1.38%, 09/28/2030 (E) | 200,000 | 156,581 | ||||||
|
| |||||||
790,772 | ||||||||
|
| |||||||
Software - 0.5% | ||||||||
Crowdstrike Holdings, Inc. | ||||||||
3.00%, 02/15/2029 (D) | 15,000 | 12,950 | ||||||
Fiserv, Inc. | ||||||||
5.45%, 03/02/2028 | 71,000 | 71,699 | ||||||
Infor, Inc. | ||||||||
1.75%, 07/15/2025 (E) | 68,000 | 62,395 | ||||||
Oracle Corp. | ||||||||
3.65%, 03/25/2041 | 57,000 | 43,642 | ||||||
6.90%, 11/09/2052 | 91,000 | 101,447 | ||||||
Rackspace Technology Global, Inc. | ||||||||
3.50%, 02/15/2028 (E) | 78,000 | 34,889 | ||||||
Take-Two Interactive Software, Inc. | ||||||||
3.55%, 04/14/2025 | 114,000 | 110,106 | ||||||
Workday, Inc. | ||||||||
3.50%, 04/01/2027 | 73,000 | 69,311 | ||||||
|
| |||||||
506,439 | ||||||||
|
|
Transamerica Funds | Page 7 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Specialized REITs - 0.1% | ||||||||
Weyerhaeuser Co. | ||||||||
4.00%, 04/15/2030 | $ 122,000 | $ 112,387 | ||||||
|
| |||||||
Tobacco - 0.2% | ||||||||
BAT Capital Corp. | ||||||||
2.26%, 03/25/2028 | 128,000 | 110,586 | ||||||
Philip Morris International, Inc. | ||||||||
5.63%, 11/17/2029 | 77,000 | 78,712 | ||||||
|
| |||||||
189,298 | ||||||||
|
| |||||||
Wireless Telecommunication Services - 0.2% | ||||||||
Sprint LLC | ||||||||
7.88%, 09/15/2023 | 42,000 | 42,033 | ||||||
T-Mobile USA, Inc. | ||||||||
3.88%, 04/15/2030 | 135,000 | 124,035 | ||||||
|
| |||||||
166,068 | ||||||||
|
| |||||||
Total Corporate Debt Securities |
| 14,538,203 | ||||||
|
| |||||||
FOREIGN GOVERNMENT OBLIGATIONS - 0.3% | ||||||||
Colombia - 0.2% | ||||||||
Colombia Government International Bonds | ||||||||
4.50%, 01/28/2026 | 200,000 | 192,261 | ||||||
|
| |||||||
Mexico - 0.1% | ||||||||
Mexico Government International Bonds | ||||||||
3.75%, 01/11/2028 | 116,000 | 109,919 | ||||||
|
| |||||||
Total Foreign Government Obligations |
| 302,180 | ||||||
|
| |||||||
MORTGAGE-BACKED SECURITIES - 2.2% | ||||||||
Alternative Loan Trust | ||||||||
Series 2007-22, Class 2A16, | ||||||||
6.50%, 09/25/2037 | 140,614 | 56,113 | ||||||
BB-UBS Trust | ||||||||
Series 2012-TFT, Class A, | ||||||||
2.89%, 06/05/2030 (E) | 35,772 | 31,162 | ||||||
CIM Trust | ||||||||
Series 2021-R6, Class A1, | ||||||||
1.43% (C), 07/25/2061 (E) | 161,354 | 137,289 | ||||||
Citigroup Commercial Mortgage Trust | ||||||||
Series 2014-GC19, Class A3, | ||||||||
3.75%, 03/11/2047 | 21,150 | 21,066 | ||||||
Series 2014-GC19, Class A4, | ||||||||
4.02%, 03/11/2047 | 65,000 | 64,413 | ||||||
Series 2015-GC27, Class B, | ||||||||
3.77%, 02/10/2048 | 157,700 | 146,207 | ||||||
Citigroup Mortgage Loan Trust, Inc. | ||||||||
Series 2018-RP1, Class A1, | ||||||||
3.00% (C), 09/25/2064 (E) | 22,655 | 21,488 | ||||||
COMM Mortgage Trust | ||||||||
Series 2013-CR11, Class AM, | ||||||||
4.72% (C), 08/10/2050 | 34,594 | 34,528 | ||||||
Series 2015-3BP, Class A, | ||||||||
3.18%, 02/10/2035 (E) | 310,000 | 289,440 | ||||||
CSMC Trust | ||||||||
Series 2021-RPL2, Class A1A, | ||||||||
1.11% (C), 01/25/2060 (E) | 139,981 | 111,811 | ||||||
Series 2021-RPL6, Class A1, | ||||||||
2.00% (C), 10/25/2060 (E) | 121,717 | 104,877 |
Principal | Value | |||||||
MORTGAGE-BACKED SECURITIES (continued) | ||||||||
Fontainebleau Miami Beach Trust | ||||||||
Series 2019-FBLU, Class B, | ||||||||
3.45%, 12/10/2036 (E) | $ 150,000 | $ 142,884 | ||||||
GMACM Mortgage Loan Trust | ||||||||
Series 2005-AR1, Class 3A, | ||||||||
3.67% (C), 03/18/2035 | 10,540 | 9,079 | ||||||
Impac CMB Trust | ||||||||
Series 2004-6, Class 1A1, | ||||||||
1-Month Term SOFR + 0.91%, | 10,502 | 10,191 | ||||||
IndyMac INDX Mortgage Loan Trust | ||||||||
Series 2007-AR15, Class 2A1, | ||||||||
3.34% (C), 08/25/2037 | 82,887 | 63,354 | ||||||
Merrill Lynch Mortgage Investors Trust | ||||||||
Series 2003-F, Class A1, | ||||||||
1-Month Term SOFR + 0.75%, | 5,376 | 5,036 | ||||||
Nationstar Mortgage Loan Trust | ||||||||
Series 2013-A, Class A, | ||||||||
3.75% (C), 12/25/2052 (E) | 24,704 | 22,650 | ||||||
New Residential Mortgage Loan Trust | ||||||||
Series 2014-1A, Class A, | ||||||||
3.75% (C), 01/25/2054 (E) | 12,154 | 11,325 | ||||||
Series 2014-2A, Class A3, | ||||||||
3.75% (C), 05/25/2054 (E) | 31,188 | 28,735 | ||||||
Series 2014-3A, Class AFX3, | ||||||||
3.75% (C), 11/25/2054 (E) | 22,920 | 20,933 | ||||||
Series 2016-3A, Class A1B, | ||||||||
3.25% (C), 09/25/2056 (E) | 19,803 | 17,912 | ||||||
Series 2017-1A, Class A1, | ||||||||
4.00% (C), 02/25/2057 (E) | 41,581 | 38,855 | ||||||
Series 2017-3A, Class A1, | ||||||||
4.00% (C), 04/25/2057 (E) | 71,014 | 66,593 | ||||||
Series 2017-4A, Class A1, | ||||||||
4.00% (C), 05/25/2057 (E) | 24,088 | 22,317 | ||||||
Series 2018-RPL1, Class A1, | ||||||||
3.50% (C), 12/25/2057 (E) | 27,188 | 25,371 | ||||||
Series 2019-4A, Class A1B, | ||||||||
3.50% (C), 12/25/2058 (E) | 91,385 | 83,810 | ||||||
Series 2019-5A, Class A1B, | ||||||||
3.50% (C), 08/25/2059 (E) | 78,594 | 72,256 | ||||||
OBX Trust | ||||||||
Series 2023-NQM4, Class A1, | ||||||||
6.11% (C), 03/25/2063 (E) | 96,343 | 95,850 | ||||||
Structured Asset Mortgage Investments II Trust | ||||||||
Series 2003-AR4, Class A1, | ||||||||
1-Month Term SOFR + 0.81%, | 28,623 | 27,096 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2017-1, Class A1, | ||||||||
2.75% (C), 10/25/2056 (E) | 6,500 | 6,412 | ||||||
Series 2017-3, Class A1, | ||||||||
2.75% (C), 07/25/2057 (E) | 8,594 | 8,355 | ||||||
Series 2017-6, Class A1, | ||||||||
2.75% (C), 10/25/2057 (E) | 20,370 | 19,268 | ||||||
Series 2018-1, Class A1, | ||||||||
3.00% (C), 01/25/2058 (E) | 31,617 | 30,296 | ||||||
Series 2018-3, Class A1, | ||||||||
3.75% (C), 05/25/2058 (E) | 80,083 | 76,158 | ||||||
Series 2018-4, Class A1, | ||||||||
3.00% (C), 06/25/2058 (E) | 123,450 | 112,640 | ||||||
Series 2020-4, Class A1, | ||||||||
1.75%, 10/25/2060 (E) | 113,806 | 98,862 | ||||||
Series 2021-1, Class A1, | ||||||||
2.25% (C), 11/25/2061 (E) | 142,919 | 127,483 | ||||||
Series 2023-1, Class A1, | ||||||||
3.75%, 01/25/2063 (E) | 131,697 | 120,350 | ||||||
|
| |||||||
Total Mortgage-Backed Securities |
| 2,382,465 | ||||||
|
|
Transamerica Funds | Page 8 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS - 9.7% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
12-Month LIBOR + 1.90%, | $ 431 | $ 422 | ||||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | ||||||||
1.38%, 06/25/2030 | 245,000 | 197,726 | ||||||
2.89%, 06/25/2027 | 28,953 | 28,427 | ||||||
3.01%, 07/25/2025 | 188,000 | 180,223 | ||||||
3.06% (C), 08/25/2024 | 390,664 | 381,371 | ||||||
3.53% (C), 10/25/2023 | 88,567 | 88,085 | ||||||
Federal National Mortgage Association | ||||||||
3.33% (C), 10/25/2023 | 7,727 | 7,684 | ||||||
3.50%, 11/01/2028 - 01/01/2029 | 26,648 | 25,529 | ||||||
4.00%, 10/01/2025 - 07/01/2026 | 4,347 | 4,234 | ||||||
12-Month LIBOR + 1.75%, | 431 | 422 | ||||||
4.50%, 02/01/2025 - 08/01/2052 | 200,617 | 192,082 | ||||||
5.00%, 04/01/2039 - 04/01/2053 | 633,152 | 620,063 | ||||||
5.50%, 09/01/2036 - 03/01/2053 | 303,058 | 304,172 | ||||||
6.00%, 05/01/2038 - 04/01/2040 | 55,123 | 56,949 | ||||||
6.50%, 05/01/2040 | 15,032 | 15,625 | ||||||
Government National Mortgage Association, Interest Only STRIPS | ||||||||
Series 2012-120, Class IO, | ||||||||
0.64% (C), 02/16/2053 | 69,827 | 1,095 | ||||||
Tennessee Valley Authority | ||||||||
5.88%, 04/01/2036 | 79,000 | 88,549 | ||||||
Uniform Mortgage-Backed Security | ||||||||
TBA, 2.00%, 08/01/2038 - 08/01/2053 (G) | 1,224,000 | 1,041,350 | ||||||
TBA, 2.50%, 08/01/2038 - 08/01/2053 (G) | 2,346,000 | 2,001,670 | ||||||
TBA, 3.00%, 08/01/2038 - 08/01/2053 (G) | 1,936,000 | 1,707,656 | ||||||
TBA, 3.50%, 08/01/2038 - 08/01/2053 (G) | 1,486,000 | 1,357,071 | ||||||
TBA, 4.00%, 08/01/2053 (G) | 773,000 | 721,577 | ||||||
TBA, 4.50%, 08/01/2053 (G) | 746,000 | 714,237 | ||||||
TBA, 5.50%, 08/01/2053 (G) | 826,000 | 820,456 | ||||||
|
| |||||||
Total U.S. Government Agency Obligations |
| 10,556,675 | ||||||
|
| |||||||
U.S. GOVERNMENT OBLIGATIONS - 9.3% | ||||||||
U.S. Treasury - 8.6% | ||||||||
U.S. Treasury Bonds | ||||||||
1.25%, 05/15/2050 | 348,000 | 189,239 | ||||||
1.88%, 02/15/2051 - 11/15/2051 | 580,000 | 370,885 | ||||||
2.00%, 02/15/2050 | 184,000 | 122,180 | ||||||
2.25%, 08/15/2046 - 02/15/2052 | 377,000 | 264,776 | ||||||
2.38%, 02/15/2042 - 05/15/2051 | 454,000 | 341,802 | ||||||
2.50%, 02/15/2045 - 05/15/2046 | 585,000 | 439,727 | ||||||
2.75%, 08/15/2042 - 11/15/2047 | 731,500 | 581,568 | ||||||
2.88%, 08/15/2045 - 05/15/2049 | 356,300 | 286,006 | ||||||
3.00%, 05/15/2042 - 08/15/2052 | 367,700 | 303,102 | ||||||
3.13%, 02/15/2042 - 05/15/2048 | 382,500 | 324,864 | ||||||
3.63%, 02/15/2044 - 05/15/2053 | 561,600 | 519,330 | ||||||
3.88%, 02/15/2043 | 107,000 | 102,085 | ||||||
4.00%, 11/15/2052 | 115,000 | 114,677 | ||||||
5.25%, 02/15/2029 | 115,000 | 120,754 |
Principal | Value | |||||||
U.S. GOVERNMENT OBLIGATIONS (continued) | ||||||||
U.S. Treasury (continued) | ||||||||
U.S. Treasury Notes | ||||||||
0.25%, 08/31/2025 | $ 681,000 | $ 619,497 | ||||||
0.63%, 05/15/2030 - 08/15/2030 | 472,000 | 375,082 | ||||||
0.88%, 06/30/2026 | 69,000 | 62,248 | ||||||
1.13%, 02/15/2031 | 596,000 | 487,137 | ||||||
1.25%, 11/30/2026 | 135,000 | 121,801 | ||||||
1.38%, 11/15/2031 | 351,000 | 286,984 | ||||||
1.50%, 08/15/2026 - 02/15/2030 | 234,300 | 206,511 | ||||||
1.63%, 02/15/2026 - 05/15/2031 | 651,900 | 566,576 | ||||||
1.88%, 02/15/2032 | 143,100 | 121,445 | ||||||
2.13%, 05/15/2025 | 43,000 | 40,889 | ||||||
2.25%, 11/15/2025 - 11/15/2027 | 180,300 | 167,066 | ||||||
2.50%, 05/31/2024 | 37,000 | 36,124 | ||||||
2.75%, 05/15/2025 - 08/15/2032 | 330,000 | 306,596 | ||||||
2.88%, 05/15/2028 - 05/15/2032 | 625,200 | 584,292 | ||||||
3.13%, 11/15/2028 | 69,500 | 66,030 | ||||||
3.38%, 05/15/2033 | 488,200 | 465,316 | ||||||
3.50%, 02/15/2033 | 93,000 | 89,571 | ||||||
3.63%, 05/31/2028 | 259,000 | 252,646 | ||||||
4.13%, 09/30/2027 - 11/15/2032 | 347,800 | 350,743 | ||||||
|
| |||||||
9,287,549 | ||||||||
|
| |||||||
U.S. Treasury Inflation-Protected Securities - 0.7% | ||||||||
U.S. Treasury Inflation-Protected Indexed Bonds | ||||||||
0.25%, 02/15/2050 | 201,083 | 135,562 | ||||||
1.75%, 01/15/2028 | 104,523 | 103,478 | ||||||
2.50%, 01/15/2029 | 386,285 | 398,764 | ||||||
U.S. Treasury Inflation-Protected Indexed Notes | ||||||||
0.13%, 07/15/2030 | 207,566 | 186,187 | ||||||
|
| |||||||
823,991 | ||||||||
|
| |||||||
Total U.S. Government Obligations |
| 10,111,540 | ||||||
|
| |||||||
COMMERCIAL PAPER - 7.2% | ||||||||
Banks - 3.4% | ||||||||
Australia & New Zealand Banking Group Ltd. | ||||||||
5.80% (H), 01/08/2024 (E) | 400,000 | 390,254 | ||||||
Bedford Row Funding Corp. | ||||||||
5.78% (H), 01/09/2024 (E) | 500,000 | 487,413 | ||||||
Lloyds Bank PLC | ||||||||
5.85% (H), 01/29/2024 | 450,000 | 436,987 | ||||||
Macquarie Bank Ltd. | ||||||||
5.37% (H), 09/01/2023 (E) | 465,000 | 462,777 | ||||||
National Bank of Canada | ||||||||
5.10% (H), 08/01/2023 (E) | 450,000 | 449,934 | ||||||
Nordea Bank Abp | ||||||||
5.24% (H), 09/01/2023 (E) | 500,000 | 497,608 | ||||||
Svenska Handelsbanken AB | ||||||||
5.85% (H), 01/24/2024 (E) | 500,000 | 486,206 | ||||||
Toronto-Dominion Bank | ||||||||
5.38% (H), 09/06/2023 (E) | 500,000 | 497,282 | ||||||
|
| |||||||
3,708,461 | ||||||||
|
| |||||||
Financial Services - 3.1% | ||||||||
Anglesea Funding LLC | ||||||||
5.14% (H), 08/03/2023 (E) | 475,000 | 474,789 | ||||||
CAFCO LLC | ||||||||
5.33% (H), 08/28/2023 (E) | 450,000 | 448,118 | ||||||
Chariot Funding LLC | ||||||||
5.61% (H), 10/10/2023 (E) | 450,000 | 445,160 | ||||||
Fairway Finance Co. LLC | ||||||||
5.46% (H), 11/10/2023 (E) | 475,000 | 467,605 |
Transamerica Funds | Page 9 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Principal | Value | |||||||
COMMERCIAL PAPER (continued) | ||||||||
Financial Services (continued) | ||||||||
Glencove Funding LLC | ||||||||
5.09% (H), 08/03/2023 (E) | $ 450,000 | $ 449,800 | ||||||
Liberty Street Funding LLC | ||||||||
5.60% (H), 11/20/2023 (E) | 250,000 | 245,694 | ||||||
LMA-Americas LLC | ||||||||
5.19% (H), 08/11/2023 (E) | 500,000 | 499,177 | ||||||
Starbird Funding Corp. | ||||||||
5.86% (H), 02/01/2024 (E) | 333,000 | 323,552 | ||||||
|
| |||||||
3,353,895 | ||||||||
|
| |||||||
Health Care Providers & Services - 0.4% |
| |||||||
Columbia Funding Co. LLC | ||||||||
5.36% (H), 09/05/2023 (E) | 450,000 | 447,579 | ||||||
|
| |||||||
Software - 0.3% |
| |||||||
Manhattan Asset Funding Co. LLC | ||||||||
5.75% (H), 01/09/2024 (E) | 300,000 | 292,370 | ||||||
|
| |||||||
Total Commercial Paper |
| 7,802,305 | ||||||
|
| |||||||
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.7% | ||||||||
U.S. Treasury Bills | ||||||||
4.79% (H), 09/07/2023 | 127,000 | 126,313 | ||||||
4.96% (H), 09/07/2023 | 112,000 | 111,394 | ||||||
5.29% (H), 09/07/2023 | 232,000 | 230,745 | ||||||
5.30% (H), 09/07/2023 | 37,000 | 36,800 | ||||||
5.40% (H), 10/19/2023 | 211,000 | 208,562 | ||||||
|
| |||||||
Total Short-Term U.S. Government Obligations |
| 713,814 | ||||||
|
| |||||||
Shares | Value | |||||||
OTHER INVESTMENT COMPANY - 1.0% | ||||||||
Securities Lending Collateral - 1.0% |
| |||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.28% (H) | 1,045,728 | 1,045,728 | ||||||
|
| |||||||
Total Other Investment Company |
| 1,045,728 | ||||||
|
| |||||||
Total Investments |
| 117,134,414 | ||||||
Net Other Assets (Liabilities) - (8.2)% | (8,837,495 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ 108,296,919 | |||||||
|
|
Transamerica Funds | Page 10 |
Transamerica Balanced II
SCHEDULE OF INVESTMENTS (continued)
At July 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 | 09/15/2023 | $ | 219,865 | $ | 230,725 | $ | 10,860 | $ | — |
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 | $ | 67,030,943 | $ | — | $ | — | $ | 67,030,943 | ||||||||
Preferred Stocks | 93,041 | — | — | 93,041 | ||||||||||||
Asset-Backed Securities | — | 2,557,520 | — | 2,557,520 | ||||||||||||
Corporate Debt Securities | — | 14,538,203 | — | 14,538,203 | ||||||||||||
Foreign Government Obligations | — | 302,180 | — | 302,180 | ||||||||||||
Mortgage-Backed Securities | — | 2,382,465 | — | 2,382,465 | ||||||||||||
U.S. Government Agency Obligations | — | 10,556,675 | — | 10,556,675 | ||||||||||||
U.S. Government Obligations | — | 10,111,540 | — | 10,111,540 | ||||||||||||
Commercial Paper | — | 7,802,305 | — | 7,802,305 | ||||||||||||
Short-Term U.S. Government Obligations | — | 713,814 | — | 713,814 | ||||||||||||
Other Investment Company | 1,045,728 | — | — | 1,045,728 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 68,169,712 | $ | 48,964,702 | $ | — | $ | 117,134,414 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments |
| |||||||||||||||
Futures Contracts (J) | $ | 10,860 | $ | — | $ | — | $ | 10,860 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | 10,860 | $ | — | $ | — | $ | 10,860 | ||||||||
|
|
|
|
|
|
|
|
FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | Non-income producing securities. | |
(B) | Percentage rounds to less than 0.1% or (0.1)%. | |
(C) | Floating or variable rate securities. The rates disclosed are as of July 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) | All or a portion of the securities are on loan. The total value of all securities on loan is $1,024,036, collateralized by cash collateral of $1,045,728. 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. | |
(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 July 31, 2023, the total value of 144A securities is $16,145,809, representing 14.9% 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 July 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 July 31, 2023. | |
(I) | 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. | |
(J) | Derivative instruments are valued at unrealized appreciation (depreciation). |
PORTFOLIO ABBREVIATIONS:
| ||
LIBOR | London Interbank Offered Rate | |
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing 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 July 31, 2023
(unaudited)
INVESTMENT VALUATION
Transamerica Balanced II (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 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 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.
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.
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Transamerica Balanced II
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At July 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.
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