Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 48.2% | ||||||||
Aerospace & Defense - 0.9% | ||||||||
Lockheed Martin Corp. | 13,500 | $ 5,797,035 | ||||||
|
| |||||||
Air Freight & Logistics - 1.5% | ||||||||
United Parcel Service, Inc., Class B | 72,000 | 10,216,800 | ||||||
|
| |||||||
Automobiles - 2.1% | ||||||||
Ford Motor Co. | 600,000 | 7,032,000 | ||||||
General Motors Co. | 175,000 | 6,790,000 | ||||||
|
| |||||||
13,822,000 | ||||||||
|
| |||||||
Banks - 0.8% | ||||||||
JPMorgan Chase & Co. | 30,000 | 5,230,800 | ||||||
|
| |||||||
Beverages - 1.0% | ||||||||
PepsiCo, Inc. | 40,000 | 6,741,200 | ||||||
|
| |||||||
Biotechnology - 3.2% | ||||||||
AbbVie, Inc. | 60,000 | 9,864,000 | ||||||
Amgen, Inc. | 20,000 | 6,285,200 | ||||||
Gilead Sciences, Inc. | 62,500 | 4,891,250 | ||||||
|
| |||||||
21,040,450 | ||||||||
|
| |||||||
Capital Markets - 2.4% | ||||||||
Blackstone, Inc. | 20,000 | 2,489,000 | ||||||
Goldman Sachs Group, Inc. | 12,500 | 4,800,125 | ||||||
Morgan Stanley | 96,872 | 8,451,113 | ||||||
|
| |||||||
15,740,238 | ||||||||
|
| |||||||
Consumer Staples Distribution & Retail - 0.8% | ||||||||
Target Corp. | 40,000 | 5,563,200 | ||||||
|
| |||||||
Electric Utilities - 0.9% | ||||||||
Duke Energy Corp. | 62,500 | 5,989,375 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure - 1.0% | ||||||||
McDonald’s Corp. | 22,500 | 6,586,200 | ||||||
|
| |||||||
Insurance - 2.7% | ||||||||
American International Group, Inc. | 70,000 | 4,865,700 | ||||||
MetLife, Inc. | 100,000 | 6,932,000 | ||||||
Prudential Financial, Inc. | 60,000 | 6,295,800 | ||||||
|
| |||||||
18,093,500 | ||||||||
|
| |||||||
Interactive Media & Services - 3.4% | ||||||||
Alphabet, Inc., Class C (A) | 157,500 | 22,333,500 | ||||||
|
| |||||||
IT Services - 2.0% | ||||||||
International Business Machines Corp. | 71,000 | 13,039,860 | ||||||
|
| |||||||
Life Sciences Tools & Services - 0.1% | ||||||||
Fortrea Holdings, Inc. (A) | 12,871 | 398,486 | ||||||
|
| |||||||
Multi-Utilities - 0.3% | ||||||||
Dominion Energy, Inc. | 50,000 | 2,286,000 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 3.7% | ||||||||
Chevron Corp. | 55,000 | 8,108,650 | ||||||
Devon Energy Corp. | 40,000 | 1,680,800 | ||||||
Diamondback Energy, Inc. | 12,500 | 1,921,750 | ||||||
Exxon Mobil Corp. | 40,000 | 4,112,400 | ||||||
ONEOK, Inc. | 40,000 | 2,730,000 |
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Pioneer Natural Resources Co. | 15,000 | $ 3,447,450 | ||||||
Williams Cos., Inc. | 75,000 | 2,599,500 | ||||||
|
| |||||||
24,600,550 | ||||||||
|
| |||||||
Pharmaceuticals - 5.6% | ||||||||
Bristol-Myers Squibb Co. | 135,000 | 6,597,450 | ||||||
Johnson & Johnson | 75,000 | 11,917,500 | ||||||
Merck & Co., Inc. | 125,000 | 15,097,500 | ||||||
Pfizer, Inc. | 144,180 | 3,904,395 | ||||||
|
| |||||||
37,516,845 | ||||||||
|
| |||||||
Residential REITs - 1.0% | ||||||||
AvalonBay Communities, Inc. | 37,500 | 6,712,875 | ||||||
|
| |||||||
Retail REITs - 0.8% | ||||||||
Realty Income Corp. | 100,000 | 5,439,000 | ||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 2.9% | ||||||||
Broadcom, Inc. | 9,000 | 10,620,000 | ||||||
QUALCOMM, Inc. | 30,000 | 4,455,300 | ||||||
Texas Instruments, Inc. | 25,000 | 4,003,000 | ||||||
|
| |||||||
19,078,300 | ||||||||
|
| |||||||
Software - 4.4% | ||||||||
Microsoft Corp. | 53,250 | 21,171,135 | ||||||
Oracle Corp. | 75,000 | 8,377,500 | ||||||
|
| |||||||
29,548,635 | ||||||||
|
| |||||||
Specialized REITs - 1.8% | ||||||||
Equinix, Inc. | 10,800 | 8,961,516 | ||||||
Public Storage | 10,000 | 2,831,900 | ||||||
|
| |||||||
11,793,416 | ||||||||
|
| |||||||
Specialty Retail - 1.2% | ||||||||
Home Depot, Inc. | 5,000 | 1,764,800 | ||||||
Lowe’s Cos., Inc. | 29,975 | 6,379,879 | ||||||
|
| |||||||
8,144,679 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals - 2.8% | ||||||||
Apple, Inc. | 102,500 | 18,901,000 | ||||||
|
| |||||||
Tobacco - 0.9% | ||||||||
Philip Morris International, Inc. | 65,000 | 5,905,250 | ||||||
|
| |||||||
Total Common Stocks |
| 320,519,194 | ||||||
|
| |||||||
PREFERRED STOCKS - 3.4% | ||||||||
Banks - 0.3% | ||||||||
Citigroup, Inc., | ||||||||
Series J, 3-Month Term SOFR + 4.30%, | 10,864 | 283,225 | ||||||
Dime Community Bancshares, Inc., | 89,412 | 1,640,710 | ||||||
|
| |||||||
1,923,935 | ||||||||
|
| |||||||
Capital Markets - 0.2% | ||||||||
Morgan Stanley, | ||||||||
Series P, 6.50% | 60,000 | 1,599,600 | ||||||
|
| |||||||
Commercial Services & Supplies - 0.3% | ||||||||
Triton International Ltd., | ||||||||
Series E, 5.75% (C) | 100,000 | 2,090,000 | ||||||
|
|
Transamerica Funds | Page 1 |
Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Shares | Value | |||||||
PREFERRED STOCKS (continued) | ||||||||
Insurance - 1.0% | ||||||||
Allstate Corp., | ||||||||
Series J, 7.38% | 30,000 | $ 816,600 | ||||||
Aspen Insurance Holdings Ltd., | 20,000 | 417,600 | ||||||
Athene Holding Ltd., | ||||||||
Series A, Fixed until 06/30/2029, | 35,000 | 832,300 | ||||||
Enstar Group Ltd., | ||||||||
Series E, 7.00% | 50,000 | 1,242,500 | ||||||
F&G Annuities & Life, Inc., | 97,000 | 2,550,130 | ||||||
Reinsurance Group of America, Inc., | ||||||||
Fixed until 10/15/2027, | 40,000 | 1,050,400 | ||||||
|
| |||||||
6,909,530 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts - 1.0% | ||||||||
AGNC Investment Corp., | ||||||||
Series E, Fixed until 10/15/2024, | 49,300 | 1,197,497 | ||||||
Annaly Capital Management, Inc., | ||||||||
Series F, 3-Month Term SOFR + 5.25%, | 40,784 | 1,040,808 | ||||||
Dynex Capital, Inc., | ||||||||
Series C, Fixed until 04/15/2025, | 23,300 | 551,977 | ||||||
New York Mortgage Trust, Inc., | ||||||||
Series F, Fixed until 10/15/2026, | 120,000 | 2,331,600 | ||||||
Rithm Capital Corp., | ||||||||
Series D, Fixed until 11/15/2026, | 65,000 | 1,487,850 | ||||||
Two Harbors Investment Corp., | ||||||||
Series B, Fixed until 07/27/2027, | 7,243 | 157,535 | ||||||
|
| |||||||
6,767,267 | ||||||||
|
| |||||||
Real Estate Management & Development - 0.1% | ||||||||
Brookfield Property Partners LP, | ||||||||
Series A-1, 6.50% | 39,500 | 528,905 | ||||||
|
| |||||||
Wireless Telecommunication Services - 0.5% | ||||||||
Telephone & Data Systems, Inc., | ||||||||
Series VV, 6.00% (C) | 123,000 | 2,028,270 | ||||||
U.S. Cellular Corp., | 60,100 | 1,112,451 | ||||||
|
| |||||||
3,140,721 | ||||||||
|
| |||||||
Total Preferred Stocks |
| 22,959,958 | ||||||
|
| |||||||
Principal | Value | |||||||
CORPORATE DEBT SECURITIES - 47.0% | ||||||||
Aerospace & Defense - 0.3% | ||||||||
Rolls-Royce PLC | ||||||||
5.75%, 10/15/2027 (D) | $ 2,050,000 | 2,055,845 | ||||||
|
| |||||||
Air Freight & Logistics - 0.2% | ||||||||
XPO CNW, Inc. | ||||||||
6.70%, 05/01/2034 | 1,181,000 | 1,210,540 | ||||||
|
| |||||||
Automobile Components - 1.8% | ||||||||
Clarios Global LP/Clarios US Finance Co. | ||||||||
6.25%, 05/15/2026 (D) | 1,575,000 | 1,572,149 | ||||||
8.50%, 05/15/2027 (D) | 1,250,000 | 1,254,844 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Automobile Components (continued) | ||||||||
Cooper Tire & Rubber Co. | ||||||||
7.63%, 03/15/2027 | $ 5,200,000 | $ 5,174,000 | ||||||
Dana, Inc. | ||||||||
5.38%, 11/15/2027 | 1,750,000 | 1,707,825 | ||||||
Goodyear Tire & Rubber Co. | ||||||||
5.00%, 07/15/2029 (C) | 1,500,000 | 1,403,053 | ||||||
7.00%, 03/15/2028 | 876,000 | 881,374 | ||||||
|
| |||||||
11,993,245 | ||||||||
|
| |||||||
Automobiles - 0.6% | ||||||||
Ford Motor Credit Co. LLC | ||||||||
6.80%, 11/07/2028 | 1,600,000 | 1,670,476 | ||||||
Jaguar Land Rover Automotive PLC | ||||||||
5.88%, 01/15/2028 (D) | 1,750,000 | 1,720,520 | ||||||
Winnebago Industries, Inc. | ||||||||
6.25%, 07/15/2028 (D) | 525,000 | 516,284 | ||||||
|
| |||||||
3,907,280 | ||||||||
|
| |||||||
Banks - 0.9% | ||||||||
Associated Banc-Corp. | ||||||||
4.25%, 01/15/2025 (C) | 2,974,000 | 2,911,031 | ||||||
Citigroup, Inc. | ||||||||
Fixed until 11/15/2028 (E), | 1,000,000 | 1,023,996 | ||||||
Freedom Mortgage Corp. | ||||||||
6.63%, 01/15/2027 (D) | 1,000,000 | 960,490 | ||||||
7.63%, 05/01/2026 (D) | 1,350,000 | 1,344,507 | ||||||
|
| |||||||
6,240,024 | ||||||||
|
| |||||||
Broadline Retail - 0.4% | ||||||||
Dillard’s, Inc. | ||||||||
7.00%, 12/01/2028 | 230,000 | 237,731 | ||||||
7.75%, 07/15/2026 | 1,150,000 | 1,190,747 | ||||||
Macy’s Retail Holdings LLC | ||||||||
5.88%, 04/01/2029 (C) (D) | 900,000 | 873,000 | ||||||
|
| |||||||
2,301,478 | ||||||||
|
| |||||||
Building Products - 1.1% | ||||||||
BlueLinx Holdings, Inc. | ||||||||
6.00%, 11/15/2029 (D) | 1,150,000 | 1,087,707 | ||||||
Builders FirstSource, Inc. | ||||||||
5.00%, 03/01/2030 (D) | 2,000,000 | 1,917,574 | ||||||
JELD-WEN, Inc. | ||||||||
4.88%, 12/15/2027 (C) (D) | 2,400,000 | 2,278,564 | ||||||
Patrick Industries, Inc. | ||||||||
4.75%, 05/01/2029 (C) (D) | 2,400,000 | 2,201,701 | ||||||
|
| |||||||
7,485,546 | ||||||||
|
| |||||||
Capital Markets - 3.0% | ||||||||
AG Issuer LLC | ||||||||
6.25%, 03/01/2028 (D) | 1,000,000 | 985,840 | ||||||
Ares Capital Corp. | ||||||||
7.00%, 01/15/2027 | 4,275,000 | 4,385,629 | ||||||
Blackstone Private Credit Fund | ||||||||
7.05%, 09/29/2025 | 5,315,000 | 5,411,378 | ||||||
FS KKR Capital Corp. | ||||||||
7.88%, 01/15/2029 | 1,550,000 | 1,643,787 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||||||||
5.25%, 05/15/2027 | 2,000,000 | 1,798,880 | ||||||
MidCap Financial Investment Corp. | ||||||||
5.25%, 03/03/2025 | 1,500,000 | 1,470,772 | ||||||
StoneX Group, Inc. | ||||||||
8.63%, 06/15/2025 (D) | 3,950,000 | 3,991,554 | ||||||
|
| |||||||
19,687,840 | ||||||||
|
|
Transamerica Funds | Page 2 |
Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Chemicals - 1.1% | ||||||||
Chemours Co. | ||||||||
5.75%, 11/15/2028 (C) (D) | $ 2,495,000 | $ 2,351,832 | ||||||
Methanex Corp. | ||||||||
5.13%, 10/15/2027 | 2,175,000 | 2,098,578 | ||||||
5.25%, 12/15/2029 | 3,316,000 | 3,167,521 | ||||||
|
| |||||||
7,617,931 | ||||||||
|
| |||||||
Commercial Services & Supplies - 3.1% | ||||||||
Alta Equipment Group, Inc. | ||||||||
5.63%, 04/15/2026 (D) | 3,342,000 | 3,207,740 | ||||||
Cimpress PLC | ||||||||
7.00%, 06/15/2026 | 1,500,000 | 1,477,500 | ||||||
CoreCivic, Inc. | ||||||||
8.25%, 04/15/2026 (C) | 2,225,000 | 2,280,625 | ||||||
Enpro, Inc. | ||||||||
5.75%, 10/15/2026 | 3,594,000 | 3,564,385 | ||||||
Garda World Security Corp. | ||||||||
9.50%, 11/01/2027 (C) (D) | 2,250,000 | 2,255,846 | ||||||
GEO Group, Inc. | ||||||||
10.50%, 06/30/2028 | 1,500,000 | 1,526,219 | ||||||
Prime Security Services Borrower LLC/Prime Finance, Inc. | ||||||||
5.75%, 04/15/2026 (D) | 2,000,000 | 1,999,807 | ||||||
Stena International SA | ||||||||
6.13%, 02/01/2025 (D) | 300,000 | 300,000 | ||||||
Upbound Group, Inc. | ||||||||
6.38%, 02/15/2029 (C) (D) | 3,675,000 | 3,503,819 | ||||||
Williams Scotsman, Inc. | ||||||||
4.63%, 08/15/2028 (D) | 805,000 | 756,530 | ||||||
|
| |||||||
20,872,471 | ||||||||
|
| |||||||
Construction & Engineering - 2.0% | ||||||||
Brookfield Residential Properties, Inc./Brookfield Residential US LLC | ||||||||
6.25%, 09/15/2027 (D) | 1,300,000 | 1,263,097 | ||||||
Brundage-Bone Concrete Pumping Holdings, Inc. | ||||||||
6.00%, 02/01/2026 (D) | 362,000 | 356,863 | ||||||
Forestar Group, Inc. | ||||||||
5.00%, 03/01/2028 (D) | 5,000,000 | 4,750,000 | ||||||
Installed Building Products, Inc. | ||||||||
5.75%, 02/01/2028 (C) (D) | 4,801,000 | 4,711,452 | ||||||
M/I Homes, Inc. | ||||||||
4.95%, 02/01/2028 | 2,235,000 | 2,129,662 | ||||||
|
| |||||||
13,211,074 | ||||||||
|
| |||||||
Construction Materials - 1.6% | ||||||||
Eco Material Technologies, Inc. | ||||||||
7.88%, 01/31/2027 (D) | 4,850,000 | 4,847,042 | ||||||
New Enterprise Stone & Lime Co., Inc. | ||||||||
5.25%, 07/15/2028 (D) | 3,765,000 | 3,617,412 | ||||||
Summit Materials LLC/Summit Materials Finance Corp. | ||||||||
6.50%, 03/15/2027 (D) | 2,208,000 | 2,197,034 | ||||||
7.25%, 01/15/2031 (D) | 150,000 | 155,962 | ||||||
|
| |||||||
10,817,450 | ||||||||
|
| |||||||
Consumer Finance - 1.2% | ||||||||
Enova International, Inc. | ||||||||
8.50%, 09/15/2025 (D) | 1,800,000 | 1,779,410 | ||||||
Navient Corp. | ||||||||
5.50%, 03/15/2029 | 1,200,000 | 1,083,819 | ||||||
PRA Group, Inc. | ||||||||
5.00%, 10/01/2029 (C) (D) | 1,300,000 | 1,048,729 | ||||||
7.38%, 09/01/2025 (D) | 2,000,000 | 2,003,120 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Consumer Finance (continued) | ||||||||
World Acceptance Corp. | ||||||||
7.00%, 11/01/2026 (C) (D) | $ 2,475,000 | $ 2,290,383 | ||||||
|
| |||||||
8,205,461 | ||||||||
|
| |||||||
Consumer Staples Distribution & Retail - 1.9% | ||||||||
Arko Corp. | ||||||||
5.13%, 11/15/2029 (D) | 3,475,000 | 3,036,072 | ||||||
Performance Food Group, Inc. | ||||||||
5.50%, 10/15/2027 (D) | 3,074,000 | 3,017,622 | ||||||
United Natural Foods, Inc. | ||||||||
6.75%, 10/15/2028 (C) (D) | 5,125,000 | 4,305,000 | ||||||
US Foods, Inc. | ||||||||
6.88%, 09/15/2028 (D) | 2,300,000 | 2,361,157 | ||||||
|
| |||||||
12,719,851 | ||||||||
|
| |||||||
Containers & Packaging - 0.5% | ||||||||
Berry Global, Inc. | ||||||||
5.63%, 07/15/2027 (C) (D) | 3,000,000 | 2,974,743 | ||||||
|
| |||||||
Distributors - 0.7% | ||||||||
G-III Apparel Group Ltd. | ||||||||
7.88%, 08/15/2025 (C) (D) | 4,775,000 | 4,787,696 | ||||||
|
| |||||||
Diversified Consumer Services - 0.9% | ||||||||
Matthews International Corp. | ||||||||
5.25%, 12/01/2025 (D) | 3,205,000 | 3,134,204 | ||||||
Service Corp. International | ||||||||
7.50%, 04/01/2027 | 2,500,000 | 2,612,625 | ||||||
|
| |||||||
5,746,829 | ||||||||
|
| |||||||
Diversified REITs - 0.5% | ||||||||
Rithm Capital Corp. | ||||||||
6.25%, 10/15/2025 (D) | 1,300,000 | 1,284,803 | ||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC | ||||||||
4.75%, 04/15/2028 (D) | 2,500,000 | 2,130,200 | ||||||
|
| |||||||
3,415,003 | ||||||||
|
| |||||||
Diversified Telecommunication Services - 0.2% | ||||||||
Lumen Technologies, Inc. | ||||||||
5.13%, 12/15/2026 (C) (D) | 2,500,000 | 1,581,250 | ||||||
|
| |||||||
Electric Utilities - 0.4% | ||||||||
Drax Finco PLC | ||||||||
6.63%, 11/01/2025 (C) (D) | 1,871,000 | 1,857,716 | ||||||
TransAlta Corp. | ||||||||
7.75%, 11/15/2029 (C) | 864,000 | 903,194 | ||||||
|
| |||||||
2,760,910 | ||||||||
|
| |||||||
Electrical Equipment - 0.2% | ||||||||
WESCO Distribution, Inc. | ||||||||
7.25%, 06/15/2028 (D) | 1,000,000 | 1,028,018 | ||||||
|
| |||||||
Energy Equipment & Services - 0.2% | ||||||||
Archrock Partners LP/Archrock Partners Finance Corp. | ||||||||
6.25%, 04/01/2028 (C) (D) | 1,500,000 | 1,477,500 | ||||||
|
| |||||||
Financial Services - 2.5% | ||||||||
Ally Financial, Inc. | ||||||||
Fixed until 05/15/2028 (E), | 2,250,000 | 1,710,000 | ||||||
Burford Capital Global Finance LLC | ||||||||
6.25%, 04/15/2028 (D) | 2,500,000 | 2,412,988 | ||||||
9.25%, 07/01/2031 (D) | 4,750,000 | 4,953,300 | ||||||
Coinbase Global, Inc. | ||||||||
3.63%, 10/01/2031 (D) | 1,250,000 | 938,848 |
Transamerica Funds | Page 3 |
Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Financial Services (continued) | ||||||||
Credit Acceptance Corp. | ||||||||
6.63%, 03/15/2026 (C) | $ 3,750,000 | $ 3,749,392 | ||||||
ILFC E-Capital Trust I | ||||||||
3-Month Term SOFR + 1.81%, | 900,000 | 695,217 | ||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp. | ||||||||
5.00%, 08/15/2028 (D) | 2,500,000 | 2,268,813 | ||||||
|
| |||||||
16,728,558 | ||||||||
|
| |||||||
Food Products - 1.4% | ||||||||
B&G Foods, Inc. | ||||||||
5.25%, 09/15/2027 (C) | 2,958,000 | 2,668,492 | ||||||
Chobani LLC/Chobani Finance Corp., Inc. | ||||||||
4.63%, 11/15/2028 (D) | 3,000,000 | 2,799,831 | ||||||
Post Holdings, Inc. | ||||||||
5.50%, 12/15/2029 (D) | 4,000,000 | 3,866,559 | ||||||
|
| |||||||
9,334,882 | ||||||||
|
| |||||||
Ground Transportation - 0.3% | ||||||||
Fortress Transportation & Infrastructure Investors LLC | ||||||||
5.50%, 05/01/2028 (D) | 250,000 | 242,299 | ||||||
9.75%, 08/01/2027 (D) | 1,750,000 | 1,813,641 | ||||||
|
| |||||||
2,055,940 | ||||||||
|
| |||||||
Health Care Providers & Services - 0.4% | ||||||||
AdaptHealth LLC | ||||||||
5.13%, 03/01/2030 (D) | 3,000,000 | 2,355,000 | ||||||
|
| |||||||
Hotel & Resort REITs - 0.1% | ||||||||
RHP Hotel Properties LP/RHP Finance Corp. | ||||||||
4.75%, 10/15/2027 | 1,000,000 | 959,984 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure - 4.5% | ||||||||
Carnival Corp. | ||||||||
5.75%, 03/01/2027 (D) | 1,700,000 | 1,677,005 | ||||||
10.50%, 06/01/2030 (D) | 3,227,000 | 3,543,252 | ||||||
Cinemark USA, Inc. | ||||||||
5.88%, 03/15/2026 (D) | 2,700,000 | 2,675,268 | ||||||
Light & Wonder International, Inc. | ||||||||
7.00%, 05/15/2028 (D) | 2,504,000 | 2,525,334 | ||||||
Live Nation Entertainment, Inc. | ||||||||
4.75%, 10/15/2027 (D) | 1,500,000 | 1,434,863 | ||||||
6.50%, 05/15/2027 (D) | 2,388,000 | 2,412,582 | ||||||
Marriott Ownership Resorts, Inc. | ||||||||
4.75%, 01/15/2028 (C) | 4,950,000 | 4,554,000 | ||||||
NCL Corp. Ltd. | ||||||||
5.88%, 03/15/2026 (D) | 1,800,000 | 1,756,125 | ||||||
8.13%, 01/15/2029 (D) | 1,800,000 | 1,889,476 | ||||||
SeaWorld Parks & Entertainment, Inc. | ||||||||
8.75%, 05/01/2025 (D) | 1,000,000 | 1,004,984 | ||||||
Travel & Leisure Co. | ||||||||
6.60%, 10/01/2025 (C) | 3,450,000 | 3,493,850 | ||||||
VOC Escrow Ltd. | ||||||||
5.00%, 02/15/2028 (D) | 3,366,000 | 3,214,197 | ||||||
|
| |||||||
30,180,936 | ||||||||
|
| |||||||
Household Products - 0.2% | ||||||||
Central Garden & Pet Co. | ||||||||
5.13%, 02/01/2028 | 1,141,000 | 1,104,265 | ||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Insurance - 0.5% | ||||||||
Kuvare US Holdings, Inc. | ||||||||
Fixed until 05/01/2026, | $ 1,500,000 | $ 1,518,750 | ||||||
SBL Holdings, Inc. | ||||||||
Fixed until 11/13/2026 (E), | 2,500,000 | 1,581,527 | ||||||
|
| |||||||
3,100,277 | ||||||||
|
| |||||||
Internet & Catalog Retail - 0.4% | ||||||||
TripAdvisor, Inc. | ||||||||
7.00%, 07/15/2025 (C) (D) | 2,303,000 | 2,308,504 | ||||||
|
| |||||||
IT Services - 0.6% | ||||||||
Leidos, Inc. | ||||||||
7.13%, 07/01/2032 | 1,800,000 | 1,968,739 | ||||||
Unisys Corp. | ||||||||
6.88%, 11/01/2027 (C) (D) | 2,000,000 | 1,812,500 | ||||||
|
| |||||||
3,781,239 | ||||||||
|
| |||||||
Leisure Products - 0.4% | ||||||||
Mattel, Inc. | ||||||||
5.88%, 12/15/2027 (D) | 1,400,000 | 1,404,945 | ||||||
Vista Outdoor, Inc. | ||||||||
4.50%, 03/15/2029 (C) (D) | 1,520,000 | 1,482,000 | ||||||
|
| |||||||
2,886,945 | ||||||||
|
| |||||||
Machinery - 0.5% | ||||||||
GrafTech Finance, Inc. | ||||||||
4.63%, 12/15/2028 (D) | 750,000 | 486,129 | ||||||
Regal Rexnord Corp. | ||||||||
6.30%, 02/15/2030 (D) | 2,549,000 | 2,618,356 | ||||||
|
| |||||||
3,104,485 | ||||||||
|
| |||||||
Media - 1.4% | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
4.50%, 08/15/2030 (D) | 2,000,000 | 1,738,014 | ||||||
Light & Wonder International, Inc. | ||||||||
7.50%, 09/01/2031 (D) | 4,500,000 | 4,682,583 | ||||||
Nexstar Media, Inc. | ||||||||
4.75%, 11/01/2028 (C) (D) | 2,986,000 | 2,735,023 | ||||||
|
| |||||||
9,155,620 | ||||||||
|
| |||||||
Metals & Mining - 1.3% | ||||||||
ATI, Inc. | ||||||||
5.88%, 12/01/2027 (C) | 4,002,000 | 3,922,727 | ||||||
Carpenter Technology Corp. | ||||||||
7.63%, 03/15/2030 | 250,000 | 258,575 | ||||||
Cleveland-Cliffs, Inc. | ||||||||
5.88%, 06/01/2027 (C) | 1,000,000 | 992,434 | ||||||
First Quantum Minerals Ltd. | ||||||||
6.88%, 10/15/2027 (D) | 3,797,000 | 3,417,300 | ||||||
|
| |||||||
8,591,036 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts - 0.5% | ||||||||
Starwood Property Trust, Inc. | ||||||||
4.38%, 01/15/2027 (D) | 3,500,000 | 3,237,500 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 2.6% | ||||||||
Blue Racer Midstream LLC/Blue Racer Finance Corp. | ||||||||
7.63%, 12/15/2025 (D) | 1,310,000 | 1,322,300 |
Transamerica Funds | Page 4 |
Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Genesis Energy LP/Genesis Energy Finance Corp. | ||||||||
8.00%, 01/15/2027 | $ 2,725,000 | $ 2,757,002 | ||||||
Hess Midstream Operations LP | ||||||||
5.13%, 06/15/2028 (D) | 1,000,000 | 970,162 | ||||||
Murphy Oil Corp. | ||||||||
6.38%, 07/15/2028 (C) | 1,230,000 | 1,232,919 | ||||||
Northern Oil & Gas, Inc. | ||||||||
8.13%, 03/01/2028 (D) | 2,000,000 | 2,031,132 | ||||||
ONEOK Partners LP | ||||||||
6.85%, 10/15/2037 | 1,000,000 | 1,092,964 | ||||||
Permian Resources Operating LLC | ||||||||
5.88%, 07/01/2029 (D) | 2,250,000 | 2,211,692 | ||||||
9.88%, 07/15/2031 (D) | 1,750,000 | 1,938,125 | ||||||
Sunoco LP/Sunoco Finance Corp. | ||||||||
5.88%, 03/15/2028 | 1,190,000 | 1,180,806 | ||||||
7.00%, 09/15/2028 (D) | 1,850,000 | 1,890,848 | ||||||
Valero Energy Corp. | ||||||||
8.75%, 06/15/2030 | 300,000 | 360,649 | ||||||
|
| |||||||
16,988,599 | ||||||||
|
| |||||||
Passenger Airlines - 1.0% | ||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. | ||||||||
6.50%, 06/20/2027 (D) | 2,100,000 | 2,103,378 | ||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. | ||||||||
8.00%, 09/20/2025 (C) (D) | 4,940,000 | 3,223,350 | ||||||
United Airlines, Inc. | ||||||||
4.63%, 04/15/2029 (D) | 1,726,000 | 1,598,593 | ||||||
|
| |||||||
6,925,321 | ||||||||
|
| |||||||
Personal Care Products - 0.4% | ||||||||
Edgewell Personal Care Co. | ||||||||
5.50%, 06/01/2028 (D) | 3,000,000 | 2,934,270 | ||||||
|
| |||||||
Pharmaceuticals - 0.1% | ||||||||
Bausch Health Cos., Inc. | ||||||||
4.88%, 06/01/2028 (D) | 1,100,000 | 622,485 | ||||||
|
| |||||||
Real Estate Management & Development - 0.2% | ||||||||
Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp. | ||||||||
7.00%, 04/15/2030 (D) | 1,141,600 | 1,031,721 | ||||||
|
| |||||||
Software - 0.7% | ||||||||
ACI Worldwide, Inc. | ||||||||
5.75%, 08/15/2026 (D) | 600,000 | 593,050 | ||||||
Concentrix Corp. | ||||||||
6.60%, 08/02/2028 (C) | 3,990,000 | 4,099,581 | ||||||
|
| |||||||
4,692,631 | ||||||||
|
| |||||||
Specialized REITs - 0.4% | ||||||||
Iron Mountain, Inc. | ||||||||
4.88%, 09/15/2027 (D) | 3,050,000 | 2,947,426 | ||||||
|
| |||||||
Specialty Retail - 2.4% | ||||||||
Abercrombie & Fitch Management Co. | ||||||||
8.75%, 07/15/2025 (D) | 1,000,000 | 1,015,487 | ||||||
Academy Ltd. | ||||||||
6.00%, 11/15/2027 (C) (D) | 5,150,000 | 5,088,143 | ||||||
Bath & Body Works, Inc. | ||||||||
6.69%, 01/15/2027 | 1,000,000 | 1,013,506 | ||||||
PetSmart, Inc./PetSmart Finance Corp. | ||||||||
4.75%, 02/15/2028 (D) | 3,900,000 | 3,643,525 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Specialty Retail (continued) | ||||||||
Sally Holdings LLC/Sally Capital, Inc. | ||||||||
5.63%, 12/01/2025 | $ 3,275,000 | $ 3,248,232 | ||||||
Sonic Automotive, Inc. | ||||||||
4.63%, 11/15/2029 (D) | 2,500,000 | 2,261,769 | ||||||
|
| |||||||
16,270,662 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals - 0.2% | ||||||||
Dell International LLC/EMC Corp. | ||||||||
8.10%, 07/15/2036 | 405,000 | 499,014 | ||||||
Western Digital Corp. | ||||||||
4.75%, 02/15/2026 | 1,113,000 | 1,085,737 | ||||||
|
| |||||||
1,584,751 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods - 0.8% | ||||||||
Crocs, Inc. | ||||||||
4.25%, 03/15/2029 (C) (D) | 4,000,000 | 3,620,000 | ||||||
Tapestry, Inc. | ||||||||
7.70%, 11/27/2030 | 1,800,000 | 1,906,128 | ||||||
|
| |||||||
5,526,128 | ||||||||
|
| |||||||
Transportation Infrastructure - 0.4% | ||||||||
GN Bondco LLC | ||||||||
9.50%, 10/15/2031 (C) (D) | 2,600,000 | 2,564,250 | ||||||
|
| |||||||
Total Corporate Debt Securities |
| 313,071,400 | ||||||
|
| |||||||
Shares | Value | |||||||
OTHER INVESTMENT COMPANY - 6.9% | ||||||||
Securities Lending Collateral - 6.9% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (F) | 45,768,902 | 45,768,902 | ||||||
|
| |||||||
Total Other Investment Company |
| 45,768,902 | ||||||
|
| |||||||
Principal | Value | |||||||
REPURCHASE AGREEMENT - 0.7% | ||||||||
Fixed Income Clearing Corp., 2.50% (F), dated 01/31/2024, to be repurchased at $4,603,087 on 02/01/2024. Collateralized by a U.S. Government Obligation, 4.50%, due 07/15/2026, and with a value of $4,694,834. | $ 4,602,767 | 4,602,767 | ||||||
|
| |||||||
Total Repurchase Agreement |
| 4,602,767 | ||||||
|
| |||||||
Total Investments |
| 706,922,221 | ||||||
Net Other Assets (Liabilities) - (6.2)% | (41,375,108 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ 665,547,113 | |||||||
|
|
Transamerica Funds | Page 5 |
Transamerica Multi-Asset Income
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (G)
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS |
| |||||||||||||||
Investments |
| |||||||||||||||
Common Stocks | $ | 320,519,194 | $ | — | $ | — | $ | 320,519,194 | ||||||||
Preferred Stocks | 22,959,958 | — | — | 22,959,958 | ||||||||||||
Corporate Debt Securities | — | 313,071,400 | — | 313,071,400 | ||||||||||||
Other Investment Company | 45,768,902 | — | — | 45,768,902 | ||||||||||||
Repurchase Agreement | — | 4,602,767 | — | 4,602,767 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 389,248,054 | $ | 317,674,167 | $ | — | $ | 706,922,221 | ||||||||
|
|
|
|
|
|
|
|
FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | Non-income producing securities. | |
(B) | Floating or variable rate securities. The rates disclosed are as of January 31, 2024. 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. | |
(C) | All or a portion of the securities are on loan. The total value of all securities on loan is $45,195,562, collateralized by cash collateral of $45,768,902 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $371,850. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. | |
(D) | Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2024, the total value of 144A securities is $216,247,057, representing 32.5% of the Fund’s net assets. | |
(E) | Perpetual maturity. The date displayed is the next call date. | |
(F) | Rates disclosed reflect the yields at January 31, 2024. | |
(G) | 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. |
PORTFOLIO ABBREVIATIONS:
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing Rate |
Transamerica Funds | Page 6 |
Transamerica Multi-Asset Income
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
INVESTMENT VALUATION
Transamerica Multi-Asset Income (the “Fund”) is a series of the Transamerica Funds.
Transamerica Asset Management, Inc. (“TAM”) has been designated as the Fund’s valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, with responsibility for fair valuation subject to oversight by the Fund’s Board of Trustees. The net asset value of the Fund is computed as of the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.
TAM utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:
Level 1 — Unadjusted quoted prices in active markets for identical securities.
Level 2 — Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.
Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM’s own assumptions used in determining the fair value of the Fund’s investments.
The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at 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.
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.
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 7 |