Transamerica Large Growth
SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 97.4% | ||||||||
Automobiles - 2.7% | ||||||||
Rivian Automotive, Inc., Class A (A) (B) | 24,532 | $ 375,585 | ||||||
Tesla, Inc. (B) | 63,334 | 11,861,825 | ||||||
|
| |||||||
12,237,410 | ||||||||
|
| |||||||
Beverages - 1.3% | ||||||||
Brown-Forman Corp., Class B | 30,449 | 1,671,650 | ||||||
Celsius Holdings, Inc. (B) | 18,697 | 932,980 | ||||||
Constellation Brands, Inc., Class A | 5,943 | 1,456,510 | ||||||
Monster Beverage Corp. (B) | 36,024 | 1,982,041 | ||||||
|
| |||||||
6,043,181 | ||||||||
|
| |||||||
Biotechnology - 1.1% | ||||||||
Intellia Therapeutics, Inc. (B) | 7,418 | 176,697 | ||||||
Moderna, Inc. (B) | 2,110 | 213,215 | ||||||
ProKidney Corp. (B) | 114,877 | 150,489 | ||||||
Roivant Sciences Ltd. (B) | 184,809 | 1,848,090 | ||||||
Vertex Pharmaceuticals, Inc. (B) | 5,841 | 2,531,373 | ||||||
|
| |||||||
4,919,864 | ||||||||
|
| |||||||
Broadline Retail - 5.9% | ||||||||
Amazon.com, Inc. (B) | 101,409 | 15,738,677 | ||||||
Global-e Online Ltd. (B) | 108,897 | 4,113,040 | ||||||
MercadoLibre, Inc. (B) | 4,123 | 7,057,792 | ||||||
|
| |||||||
26,909,509 | ||||||||
|
| |||||||
Building Products - 0.4% | ||||||||
Builders FirstSource, Inc. (B) | 9,979 | 1,733,652 | ||||||
|
| |||||||
Capital Markets - 1.8% | ||||||||
Ares Management Corp., Class A | 13,030 | 1,582,884 | ||||||
Coinbase Global, Inc., Class A (B) | 13,494 | 1,729,931 | ||||||
KKR & Co., Inc. | 14,058 | 1,217,142 | ||||||
Morgan Stanley | 16,966 | 1,480,114 | ||||||
S&P Global, Inc. | 4,515 | 2,024,300 | ||||||
|
| |||||||
8,034,371 | ||||||||
|
| |||||||
Chemicals - 0.8% | ||||||||
Albemarle Corp. | 6,490 | 744,663 | ||||||
Ginkgo Bioworks Holdings, Inc. (A) (B) | 533,610 | 645,668 | ||||||
Sherwin-Williams Co. | 7,572 | 2,304,765 | ||||||
|
| |||||||
3,695,096 | ||||||||
|
| |||||||
Consumer Finance - 0.4% | ||||||||
American Express Co. | 9,798 | 1,966,851 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components - 1.7% | ||||||||
Amphenol Corp., Class A | 26,400 | 2,669,040 | ||||||
CDW Corp. | 12,558 | 2,847,150 | ||||||
Jabil, Inc. | 17,312 | 2,169,020 | ||||||
|
| |||||||
7,685,210 | ||||||||
|
| |||||||
Entertainment - 3.7% | ||||||||
Netflix, Inc. (B) | 7,796 | 4,397,802 | ||||||
ROBLOX Corp., Class A (B) | 323,889 | 12,570,132 | ||||||
|
| |||||||
16,967,934 | ||||||||
|
| |||||||
Financial Services - 6.0% | ||||||||
Adyen NV (B) (C) | 7,367 | 9,239,593 | ||||||
Affirm Holdings, Inc. (B) | 239,552 | 9,704,252 |
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Financial Services (continued) | ||||||||
FleetCor Technologies, Inc. (B) | 3,311 | $ 959,958 | ||||||
Mastercard, Inc., Class A | 16,639 | 7,474,738 | ||||||
|
| |||||||
27,378,541 | ||||||||
|
| |||||||
Ground Transportation - 5.1% | ||||||||
Grab Holdings Ltd., Class A (B) | 362,747 | 1,113,633 | ||||||
Uber Technologies, Inc. (B) | 339,911 | 22,185,991 | ||||||
|
| |||||||
23,299,624 | ||||||||
|
| |||||||
Health Care Equipment & Supplies - 0.8% | ||||||||
Boston Scientific Corp. (B) | 34,499 | 2,182,407 | ||||||
Edwards Lifesciences Corp. (B) | 20,538 | 1,611,617 | ||||||
|
| |||||||
3,794,024 | ||||||||
|
| |||||||
Health Care Providers & Services - 1.8% | ||||||||
agilon health, Inc. (B) | 523,104 | 3,081,083 | ||||||
UnitedHealth Group, Inc. | 9,683 | 4,955,178 | ||||||
|
| |||||||
8,036,261 | ||||||||
|
| |||||||
Health Care Technology - 0.9% | ||||||||
Doximity, Inc., Class A (B) | 51,602 | 1,390,674 | ||||||
Veeva Systems, Inc., Class A (B) | 12,379 | 2,567,528 | ||||||
|
| |||||||
3,958,202 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure - 7.2% | ||||||||
Airbnb, Inc., Class A (B) | 91,731 | 13,222,106 | ||||||
Chipotle Mexican Grill, Inc. (B) | 1,334 | 3,213,299 | ||||||
DoorDash, Inc., Class A (B) | 157,602 | 16,422,129 | ||||||
|
| |||||||
32,857,534 | ||||||||
|
| |||||||
Insurance - 0.3% | ||||||||
Arch Capital Group Ltd. (B) | 19,488 | 1,606,396 | ||||||
|
| |||||||
Interactive Media & Services - 5.0% | ||||||||
Alphabet, Inc., Class A (B) | 73,790 | 10,337,979 | ||||||
Meta Platforms, Inc., Class A (B) | 29,986 | 11,698,738 | ||||||
ZoomInfo Technologies, Inc. (B) | 60,675 | 973,227 | ||||||
|
| |||||||
23,009,944 | ||||||||
|
| |||||||
IT Services - 12.0% | ||||||||
Cloudflare, Inc., Class A (B) | 240,321 | 18,997,375 | ||||||
MongoDB, Inc. (B) | 3,400 | 1,361,768 | ||||||
Shopify, Inc., Class A (B) | 222,866 | 17,844,881 | ||||||
Snowflake, Inc., Class A (B) | 85,482 | 16,723,698 | ||||||
|
| |||||||
54,927,722 | ||||||||
|
| |||||||
Leisure Products - 0.3% | ||||||||
Peloton Interactive, Inc., Class A (B) | 225,536 | 1,253,980 | ||||||
|
| |||||||
Life Sciences Tools & Services - 0.7% | ||||||||
10X Genomics, Inc., Class A (B) | 23,167 | 965,369 | ||||||
Thermo Fisher Scientific, Inc. | 3,874 | 2,088,008 | ||||||
|
| |||||||
3,053,377 | ||||||||
|
| |||||||
Machinery - 1.6% | ||||||||
Deere & Co. | 7,136 | 2,808,587 | ||||||
Ingersoll Rand, Inc. | 31,925 | 2,549,530 | ||||||
Nordson Corp. | 8,407 | 2,116,210 | ||||||
|
| |||||||
7,474,327 | ||||||||
|
| |||||||
Media - 2.7% | ||||||||
Trade Desk, Inc., Class A (B) | 181,648 | 12,430,173 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 0.2% | ||||||||
Diamondback Energy, Inc. | 7,478 | 1,149,668 | ||||||
|
|
Transamerica Funds | Page 1 |
Transamerica Large Growth
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Personal Care Products - 0.5% | ||||||||
Estee Lauder Cos., Inc., Class A | 17,424 | $ 2,299,794 | ||||||
|
| |||||||
Pharmaceuticals - 4.4% | ||||||||
Eli Lilly & Co. | 11,467 | 7,403,210 | ||||||
Merck & Co., Inc. | 20,878 | 2,521,645 | ||||||
Royalty Pharma PLC, Class A | 364,071 | 10,335,975 | ||||||
|
| |||||||
20,260,830 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 5.8% | ||||||||
Advanced Micro Devices, Inc. (B) | 16,248 | 2,724,627 | ||||||
Broadcom, Inc. | 5,685 | 6,708,300 | ||||||
Intel Corp. | 39,705 | 1,710,491 | ||||||
KLA Corp. | 5,660 | 3,362,266 | ||||||
NVIDIA Corp. | 19,420 | 11,948,544 | ||||||
|
| |||||||
26,454,228 | ||||||||
|
| |||||||
Software - 14.8% | ||||||||
Adobe, Inc. (B) | 5,344 | 3,301,416 | ||||||
Aurora Innovation, Inc. (B) | 831,705 | 2,486,798 | ||||||
Bill Holdings, Inc. (B) | 107,787 | 8,412,775 | ||||||
Cadence Design Systems, Inc. (B) | 8,457 | 2,439,506 | ||||||
Gitlab, Inc., Class A (B) | 45,957 | 3,268,002 | ||||||
HubSpot, Inc. (B) | 3,293 | 2,012,023 | ||||||
Intuit, Inc. | 5,512 | 3,479,891 | ||||||
Microsoft Corp. | 58,939 | 23,432,968 | ||||||
MicroStrategy, Inc., Class A (B) | 2,199 | 1,102,161 | ||||||
Palo Alto Networks, Inc. (B) | 8,331 | 2,820,127 | ||||||
Salesforce, Inc. (B) | 13,106 | 3,683,966 | ||||||
Samsara, Inc., Class A (B) | 124,626 | 3,913,256 | ||||||
ServiceNow, Inc. (B) | 5,392 | 4,127,037 | ||||||
Workday, Inc., Class A (B) | 11,536 | 3,357,784 | ||||||
|
| |||||||
67,837,710 | ||||||||
|
| |||||||
Specialty Retail - 2.5% | ||||||||
Carvana Co. (B) | 165,818 | 7,140,123 | ||||||
O’Reilly Automotive, Inc. (B) | 2,419 | 2,474,758 | ||||||
TJX Cos., Inc. | 17,252 | 1,637,387 | ||||||
|
| |||||||
11,252,268 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals - 3.9% | ||||||||
Apple, Inc. | 96,574 | 17,808,246 | ||||||
|
| |||||||
Textiles, Apparel & Luxury Goods - 1.1% | ||||||||
Lululemon Athletica, Inc. (B) | 5,772 | 2,619,449 | ||||||
NIKE, Inc., Class B | 25,595 | 2,598,660 | ||||||
|
| |||||||
5,218,109 | ||||||||
|
| |||||||
Total Common Stocks |
| 445,554,036 | ||||||
|
| |||||||
OTHER INVESTMENT COMPANY - 0.2% | ||||||||
Securities Lending Collateral - 0.2% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (D) | 667,013 | 667,013 | ||||||
|
| |||||||
Total Other Investment Company |
| 667,013 | ||||||
|
|
Principal | Value | |||||||
REPURCHASE AGREEMENT - 2.7% | ||||||||
Fixed Income Clearing Corp., 2.50% (D), dated 01/31/2024, to be repurchased at $12,428,535 on 02/01/2024. Collateralized by U.S. Government Obligations, 0.13% - 1.88%, due 06/30/2026 - 07/15/2026, and with a total value of $12,676,375. | $ 12,427,672 | $ 12,427,672 | ||||||
|
| |||||||
Total Repurchase Agreement |
| 12,427,672 | ||||||
|
| |||||||
Total Investments Excluding Options Purchased |
| 458,648,721 | ||||||
Total Options Purchased - 0.1% |
| 243,510 | ||||||
|
| |||||||
Total Investments |
| 458,892,231 | ||||||
Net Other Assets (Liabilities) - (0.4)% | (1,648,130 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ 457,244,101 | |||||||
|
|
Transamerica Funds | Page 2 |
Transamerica Large Growth
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
OVER-THE-COUNTER FOREIGN EXCHANGE OPTIONS PURCHASED:
Description | Counterparty | Exercise Price | Expiration Date | Notional Amount/ Number of Contracts | Premiums Paid | Value | ||||||||||||||||||||||||
Put - USD vs. CNH | SCB | USD | 7.57 | 05/24/2024 | USD | 50,909,861 | $ | 215,400 | $ | 30,240 | ||||||||||||||||||||
Put - USD vs. CNH | GSI | USD | 7.69 | 01/06/2025 | USD | 59,737,560 | 226,035 | 174,016 | ||||||||||||||||||||||
Put - USD vs. CNH | JPM | USD | 7.79 | 08/12/2024 | USD | 54,595,784 | 226,026 | 39,254 | ||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||
Total | $ | 667,461 | $ | 243,510 | ||||||||||||||||||||||||||
|
|
|
|
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 | $ | 436,314,443 | $ | 9,239,593 | $ | — | $ | 445,554,036 | ||||||||
Other Investment Company | 667,013 | — | — | 667,013 | ||||||||||||
Repurchase Agreement | — | 12,427,672 | — | 12,427,672 | ||||||||||||
Over-the-Counter Foreign Exchange Options Purchased | — | 243,510 | — | 243,510 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 436,981,456 | $ | 21,910,775 | $ | — | $ | 458,892,231 | ||||||||
|
|
|
|
|
|
|
|
FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | All or a portion of the securities are on loan. The total value of all securities on loan is $662,540, collateralized by cash collateral of $667,013 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $17,357. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. | |
(B) | Non-income producing securities. | |
(C) | 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 January 31, 2024, the value of the 144A security is $9,239,593, representing 2.0% of the Fund’s net assets. | |
(D) | Rates disclosed reflect the yields at January 31, 2024. | |
(E) | There were no transfers in or out of Level 3 during the period ended January 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs. |
CURRENCY ABBREVIATIONS:
CNH | Chinese Yuan Renminbi (offshore) | |
USD | United States Dollar |
COUNTERPARTY ABBREVIATIONS:
GSI | Goldman Sachs International | |
JPM | JPMorgan Chase Bank, N.A. | |
SCB | Standard Chartered Bank |
Transamerica Funds | Page 3 |
Transamerica Large Growth
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
INVESTMENT VALUATION
Transamerica Large Growth (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 January 31, 2024, 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 |
Transamerica Large Growth
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.
Transamerica Funds | Page 5 |