Transamerica International Sustainable Equity
SCHEDULE OF INVESTMENTS
At July 31, 2023
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 97.2% | ||||||||
Australia - 2.8% | ||||||||
Cochlear Ltd. | 323 | $ 51,892 | ||||||
CSL Ltd. | 532 | 95,954 | ||||||
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147,846 | ||||||||
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| |||||||
Belgium - 1.3% | ||||||||
KBC Group NV | 905 | 68,061 | ||||||
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Brazil - 2.5% | ||||||||
Itau Unibanco Holding SA, ADR | 8,021 | 48,206 | ||||||
Klabin SA | 9,417 | 45,803 | ||||||
Sao Martinho SA | 5,893 | 41,711 | ||||||
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135,720 | ||||||||
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| |||||||
Canada - 3.8% | ||||||||
BCE, Inc. | 2,520 | 108,853 | ||||||
Canadian Pacific Kansas City Ltd. | 1,127 | 92,741 | ||||||
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201,594 | ||||||||
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| |||||||
China - 2.1% | ||||||||
BYD Co. Ltd., H Shares | 2,500 | 88,346 | ||||||
Sungrow Power Supply Co. Ltd., A Shares | 1,500 | 23,402 | ||||||
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| |||||||
111,748 | ||||||||
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| |||||||
Colombia - 0.6% | ||||||||
Interconexion Electrica SA ESP | 7,640 | 33,455 | ||||||
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Denmark - 3.4% | ||||||||
Coloplast AS, Class B | 297 | 36,916 | ||||||
Novo Nordisk AS, Class B | 509 | 82,027 | ||||||
Novozymes AS, B Shares | 763 | 38,277 | ||||||
Orsted AS (A) | 296 | 25,820 | ||||||
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| |||||||
183,040 | ||||||||
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| |||||||
France - 8.8% | ||||||||
Air Liquide SA | 378 | 67,894 | ||||||
Cie de Saint-Gobain | 628 | 42,451 | ||||||
Cie Generale des Etablissements Michelin SCA | 2,025 | 66,283 | ||||||
Dassault Systemes SE | 922 | 39,419 | ||||||
EssilorLuxottica SA | 420 | 84,480 | ||||||
Kering SA | 98 | 56,418 | ||||||
L’Oreal SA | 236 | 109,813 | ||||||
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| |||||||
466,758 | ||||||||
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| |||||||
Germany - 6.4% | ||||||||
Infineon Technologies AG | 2,457 | 108,059 | ||||||
Merck KGaA | 417 | 73,267 | ||||||
SAP SE | 606 | 82,887 | ||||||
Siemens AG | 464 | 79,066 | ||||||
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| |||||||
343,279 | ||||||||
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| |||||||
Hong Kong - 6.2% | ||||||||
AIA Group Ltd. | 9,800 | 97,260 | ||||||
China Water Affairs Group Ltd. | 60,000 | 50,853 | ||||||
Hang Seng Bank Ltd. | 5,200 | 79,145 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 2,400 | 100,260 | ||||||
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| |||||||
327,518 | ||||||||
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| |||||||
India - 2.0% | ||||||||
HDFC Bank Ltd., ADR | 1,521 | 103,854 | ||||||
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Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Indonesia - 1.7% | ||||||||
Bank Rakyat Indonesia Persero Tbk PT | 245,500 | $ 91,981 | ||||||
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| |||||||
Ireland - 4.8% | ||||||||
Accenture PLC, Class A | 237 | 74,975 | ||||||
Aptiv PLC (B) | 446 | 48,832 | ||||||
Kerry Group PLC, Class A | 888 | 88,224 | ||||||
Kingspan Group PLC | 532 | 42,700 | ||||||
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| |||||||
254,731 | ||||||||
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| |||||||
Italy - 1.2% | ||||||||
Prysmian SpA | 896 | 35,712 | ||||||
Terna - Rete Elettrica Nazionale | 3,132 | 26,474 | ||||||
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| |||||||
62,186 | ||||||||
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| |||||||
Japan - 13.2% | ||||||||
Daifuku Co. Ltd. | 4,100 | 87,467 | ||||||
FANUC Corp. | 1,400 | 42,788 | ||||||
KDDI Corp. | 2,500 | 73,578 | ||||||
Nidec Corp. | 1,700 | 101,009 | ||||||
Omron Corp. | 900 | 48,218 | ||||||
ORIX Corp. | 4,800 | 92,144 | ||||||
Recruit Holdings Co. Ltd. | 2,500 | 86,687 | ||||||
Sony Group Corp., ADR | 1,232 | 115,315 | ||||||
Sysmex Corp. | 800 | 54,124 | ||||||
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701,330 | ||||||||
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Mexico - 1.8% | ||||||||
Grupo Financiero Banorte SAB de CV, Class O | 10,376 | 98,388 | ||||||
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Netherlands - 1.7% | ||||||||
Koninklijke Ahold Delhaize NV | 2,604 | 89,858 | ||||||
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Norway - 1.3% | ||||||||
DNB Bank ASA | 3,408 | 70,312 | ||||||
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Peru - 1.1% | ||||||||
Credicorp Ltd. | 378 | 59,365 | ||||||
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Portugal - 1.6% | ||||||||
Jeronimo Martins SGPS SA | 3,149 | 85,727 | ||||||
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Republic of Korea - 1.4% | ||||||||
Samsung SDI Co. Ltd. | 70 | 36,520 | ||||||
Shinhan Financial Group Co. Ltd. | 1,479 | 40,669 | ||||||
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77,189 | ||||||||
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| |||||||
Singapore - 1.8% | ||||||||
Capitaland Investment Ltd. | 36,900 | 94,349 | ||||||
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Spain - 3.7% | ||||||||
Amadeus IT Group SA | 756 | 54,212 | ||||||
EDP Renovaveis SA | 1,117 | 21,333 | ||||||
Industria de Diseno Textil SA | 3,114 | 119,184 | ||||||
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194,729 | ||||||||
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| |||||||
Sweden - 3.0% | ||||||||
Assa Abloy AB, B Shares | 2,623 | 63,044 | ||||||
Atlas Copco AB, A Shares | 4,066 | 57,824 | ||||||
Epiroc AB, Class A | 1,912 | 38,162 | ||||||
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| |||||||
159,030 | ||||||||
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Switzerland - 7.8% | ||||||||
DSM-Firmenich AG | 526 | 58,123 | ||||||
Kuehne & Nagel International AG | 171 | 53,415 |
Transamerica Funds | Page 1 |
Transamerica International Sustainable Equity
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Switzerland (continued) | ||||||||
Lonza Group AG | 69 | $ 39,973 | ||||||
Roche Holding AG | 305 | 94,643 | ||||||
Sika AG | 223 | 69,223 | ||||||
Straumann Holding AG | 260 | 42,978 | ||||||
TE Connectivity Ltd. | 387 | 55,531 | ||||||
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413,886 | ||||||||
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Taiwan - 2.0% | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 1,065 | 105,595 | ||||||
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United Kingdom - 7.4% | ||||||||
Aviva PLC | 12,340 | 61,509 | ||||||
Croda International PLC | 805 | 60,849 | ||||||
Ferguson PLC | 630 | 101,821 | ||||||
Greggs PLC | 2,223 | 78,797 | ||||||
Halma PLC | 1,404 | 40,289 | ||||||
National Grid PLC, ADR (C) | 764 | 51,478 | ||||||
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394,743 | ||||||||
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United States - 1.8% | ||||||||
Linde PLC | 182 | 71,102 | ||||||
ResMed, Inc. | 1,179 | 26,641 | ||||||
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97,743 | ||||||||
|
| |||||||
Total Common Stocks |
| 5,174,015 | ||||||
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| |||||||
Total Investments |
| 5,174,015 | ||||||
Net Other Assets (Liabilities) - 2.8% | 147,290 | |||||||
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| |||||||
Net Assets - 100.0% | $ 5,321,305 | |||||||
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Transamerica Funds | Page 2 |
Transamerica International Sustainable Equity
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
INVESTMENTS BY INDUSTRY:
Industry | Percentage of Total Investments | Value | ||||||||
Banks | 12.8 | % | $ | 659,981 | ||||||
Chemicals | 7.1 | 365,468 | ||||||||
Health Care Equipment & Supplies | 5.7 | 297,031 | ||||||||
Pharmaceuticals | 4.8 | 249,937 | ||||||||
Machinery | 4.4 | 226,241 | ||||||||
Semiconductors & Semiconductor Equipment | 4.1 | 213,654 | ||||||||
Electronic Equipment, Instruments & Components | 3.5 | 180,558 | ||||||||
Consumer Staples Distribution & Retail | 3.4 | 175,585 | ||||||||
Electrical Equipment | 3.1 | 160,123 | ||||||||
Insurance | 3.1 | 158,769 | ||||||||
Building Products | 2.9 | 148,195 | ||||||||
Hotels, Restaurants & Leisure | 2.6 | 133,009 | ||||||||
Food Products | 2.5 | 129,935 | ||||||||
Software | 2.4 | 122,306 | ||||||||
Specialty Retail | 2.3 | 119,184 | ||||||||
Household Durables | 2.2 | 115,315 | ||||||||
Automobile Components | 2.2 | 115,115 | ||||||||
Personal Care Products | 2.1 | 109,813 | ||||||||
Diversified Telecommunication Services | 2.1 | 108,853 | ||||||||
Trading Companies & Distributors | 2.0 | 101,821 | ||||||||
Capital Markets | 1.9 | 100,260 | ||||||||
Biotechnology | 1.8 | 95,954 | ||||||||
Real Estate Management & Development | 1.8 | 94,349 | ||||||||
Ground Transportation | 1.8 | 92,741 | ||||||||
Financial Services | 1.8 | 92,144 | ||||||||
Automobiles | 1.7 | 88,346 | ||||||||
Professional Services | 1.7 | 86,687 | ||||||||
Electric Utilities | 1.7 | 85,749 | ||||||||
Industrial Conglomerates | 1.5 | 79,066 | ||||||||
IT Services | 1.4 | 74,975 | ||||||||
Wireless Telecommunication Services | 1.4 | 73,578 | ||||||||
Textiles, Apparel & Luxury Goods | 1.1 | 56,418 | ||||||||
Marine Transportation | 1.0 | 53,415 | ||||||||
Multi-Utilities | 1.0 | 51,478 | ||||||||
Water Utilities | 1.0 | 50,853 | ||||||||
Containers & Packaging | 0.9 | 45,803 | ||||||||
Life Sciences Tools & Services | 0.8 | 39,973 | ||||||||
Independent Power & Renewable Electricity Producers | 0.4 | 21,333 | ||||||||
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|
|
| |||||||
Investments | 100.0 | 5,174,015 | ||||||||
|
|
|
| |||||||
Total Investments | 100.0 | % | $ | 5,174,015 | ||||||
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|
|
INVESTMENT VALUATION:
Valuation Inputs (D)
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS | ||||||||||||||||
Investments | ||||||||||||||||
Common Stocks | $ | 1,257,025 | $ | 3,916,990 | $ | — | $ | 5,174,015 | ||||||||
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|
|
|
|
|
|
| |||||||||
Total Investments | $ | 1,257,025 | $ | 3,916,990 | $ | — | $ | 5,174,015 | ||||||||
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FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Security may be resold as transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2023, the value of the 144A security is $25,820, representing 0.5% of the Fund’s net assets. | |
(B) | Non-income producing security. |
Transamerica Funds | Page 3 |
Transamerica International Sustainable Equity
SCHEDULE OF INVESTMENTS (continued)
At July 31, 2023
(unaudited)
FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):
(C) | All or a portion of the security is on loan. The value of the security on loan is $50,939 collateralized by non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $51,975. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers. | |
(D) | 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:
ADR | American Depositary Receipt |
Transamerica Funds | Page 4 |
Transamerica International Sustainable Equity
NOTES TO SCHEDULE OF INVESTMENTS
At July 31, 2023
(unaudited)
INVESTMENT VALUATION
Transamerica International Sustainable Equity (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 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.
Transamerica Funds | Page 5 |