Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES - 37.9% | ||||||||
Argentina - 0.5% | ||||||||
YPF SA | ||||||||
9.00% (A), 06/30/2029 (B) | $ 600,000 | $ 584,462 | ||||||
9.50%, 01/17/2031 (C) | 1,000,000 | 999,300 | ||||||
|
| |||||||
1,583,762 | ||||||||
|
| |||||||
Bermuda - 0.7% | ||||||||
Digicel International Finance Ltd./Digicel international Holdings Ltd. | ||||||||
9.00%, 05/25/2027 (D) | 1,020,342 | 961,350 | ||||||
Star Energy Geothermal Darajat II/Star Energy Geothermal Salak | ||||||||
4.85%, 10/14/2038 (C) | 600,000 | 550,866 | ||||||
Tengizchevroil Finance Co. International Ltd. | ||||||||
4.00%, 08/15/2026 (C) | 640,000 | 602,669 | ||||||
|
| |||||||
2,114,885 | ||||||||
|
| |||||||
Brazil - 0.3% | ||||||||
BRF SA | ||||||||
4.88%, 01/24/2030 (B) | 950,000 | 841,195 | ||||||
|
| |||||||
Canada - 0.6% | ||||||||
First Quantum Minerals Ltd. | ||||||||
8.63%, 06/01/2031 (C) (E) | 1,965,000 | 1,822,538 | ||||||
|
| |||||||
Cayman Islands - 2.6% | ||||||||
Alibaba Group Holding Ltd. | ||||||||
2.70%, 02/09/2041 | 1,200,000 | 826,132 | ||||||
CIFI Holdings Group Co. Ltd. | ||||||||
4.45%, 08/17/2026 (B) (F) | 650,000 | 59,313 | ||||||
Liberty Costa Rica Senior Secured Finance | ||||||||
10.88%, 01/15/2031 (C) | 1,100,000 | 1,124,739 | ||||||
Lima Metro Line 2 Finance Ltd. | ||||||||
4.35%, 04/05/2036 (C) | 732,447 | 669,653 | ||||||
Longfor Group Holdings Ltd. | ||||||||
3.85%, 01/13/2032 (B) | 1,300,000 | 514,781 | ||||||
4.50%, 01/16/2028 (B) | 350,000 | 189,359 | ||||||
Meituan | ||||||||
3.05%, 10/28/2030 (C) | 1,010,000 | 859,697 | ||||||
3.05%, 10/28/2030 (B) | 580,000 | 493,687 | ||||||
Melco Resorts Finance Ltd. | ||||||||
5.38%, 12/04/2029 (B) | 490,000 | 433,067 | ||||||
5.75%, 07/21/2028 (C) | 800,000 | 743,987 | ||||||
5.75%, 07/21/2028 (B) | 210,000 | 195,297 | ||||||
Sands China Ltd. | ||||||||
4.05%, 01/08/2026 | 490,000 | 471,906 | ||||||
5.65%, 08/08/2028 | 700,000 | 687,998 | ||||||
Tencent Holdings Ltd. | ||||||||
3.68%, 04/22/2041 (C) | 1,000,000 | 788,927 | ||||||
|
| |||||||
8,058,543 | ||||||||
|
| |||||||
Chile - 2.2% | ||||||||
Agrosuper SA | ||||||||
4.60%, 01/20/2032 (C) | 1,000,000 | 854,462 | ||||||
Alfa Desarrollo SpA | ||||||||
4.55%, 09/27/2051 (C) | 1,604,924 | 1,172,281 | ||||||
Corp. Nacional del Cobre de Chile | ||||||||
3.63%, 08/01/2027 (C) | 1,500,000 | 1,418,258 | ||||||
Falabella SA | ||||||||
3.75%, 10/30/2027 (B) | 320,000 | 285,273 | ||||||
3.75%, 10/30/2027 (C) | 95,000 | 84,691 | ||||||
4.38%, 01/27/2025 (B) | 600,000 | 583,736 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Chile (continued) | ||||||||
Sociedad de Transmision Austral SA | ||||||||
4.00%, 01/27/2032 (C) | $ 1,500,000 | $ 1,326,000 | ||||||
Sociedad Quimica y Minera de Chile SA | ||||||||
6.50%, 11/07/2033 (C) (E) | 565,000 | 584,396 | ||||||
Telefonica Moviles Chile SA | ||||||||
3.54%, 11/18/2031 (C) | 1,000,000 | 737,616 | ||||||
|
| |||||||
7,046,713 | ||||||||
|
| |||||||
Colombia - 1.4% | ||||||||
Banco GNB Sudameris SA | ||||||||
Fixed until 04/16/2026, 7.50% (G), 04/16/2031 (C) | 1,000,000 | 849,500 | ||||||
Colombia Telecomunicaciones SA ESP | ||||||||
4.95%, 07/17/2030 (C) | 760,000 | 488,848 | ||||||
Ecopetrol SA | ||||||||
8.38%, 01/19/2036 | 1,350,000 | 1,364,107 | ||||||
8.63%, 01/19/2029 | 920,000 | 972,626 | ||||||
Grupo Energia Bogota SA ESP | ||||||||
7.85%, 11/09/2033 (C) | 815,000 | 884,275 | ||||||
|
| |||||||
4,559,356 | ||||||||
|
| |||||||
Czech Republic - 0.3% | ||||||||
Energo-Pro AS | ||||||||
11.00%, 11/02/2028 (C) | 1,050,000 | 1,097,334 | ||||||
|
| |||||||
Guatemala - 0.5% | ||||||||
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL | ||||||||
5.25%, 04/27/2029 (C) | 810,000 | 756,645 | ||||||
CT Trust | ||||||||
5.13%, 02/03/2032 (C) | 805,000 | 708,476 | ||||||
|
| |||||||
1,465,121 | ||||||||
|
| |||||||
Hong Kong - 0.2% | ||||||||
AIA Group Ltd. | ||||||||
5.63%, 10/25/2027 (C) | 500,000 | 517,608 | ||||||
|
| |||||||
India - 1.4% | ||||||||
Adani Ports & Special Economic Zone Ltd. | ||||||||
3.10%, 02/02/2031 (C) | 1,200,000 | 955,685 | ||||||
4.20%, 08/04/2027 (C) | 1,030,000 | 949,906 | ||||||
Adani Transmission Step-One Ltd. | ||||||||
4.00%, 08/03/2026 (B) | 850,000 | 799,000 | ||||||
REC Ltd. | ||||||||
5.63%, 04/11/2028 (C) | 890,000 | 897,965 | ||||||
Shriram Finance Ltd. | ||||||||
6.63%, 04/22/2027 (C) (E) | 730,000 | 735,475 | ||||||
|
| |||||||
4,338,031 | ||||||||
|
| |||||||
Indonesia - 0.9% | ||||||||
Freeport Indonesia PT | ||||||||
6.20%, 04/14/2052 (C) | 1,778,000 | 1,715,966 | ||||||
Indofood CBP Sukses Makmur Tbk. PT | ||||||||
4.75%, 06/09/2051 (B) | 1,600,000 | 1,262,907 | ||||||
|
| |||||||
2,978,873 | ||||||||
|
| |||||||
Ireland - 0.5% | ||||||||
C&W Senior Financing DAC | ||||||||
6.88%, 09/15/2027 (C) | 1,700,000 | 1,610,750 | ||||||
Sovcombank Via SovCom Capital DAC | ||||||||
Fixed until 02/17/2027 (H), 7.60% (C) (G) | 640,000 | 23,120 | ||||||
|
| |||||||
1,633,870 | ||||||||
|
|
Transamerica Funds | Page 1 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Israel - 0.9% | ||||||||
Energean Israel Finance Ltd. | ||||||||
4.88%, 03/30/2026 (B) | $ 750,000 | $ 690,302 | ||||||
8.50%, 09/30/2033 (B) | 1,300,000 | 1,217,811 | ||||||
Leviathan Bond Ltd. | ||||||||
6.75%, 06/30/2030 (B) | 1,000,000 | 895,208 | ||||||
|
| |||||||
2,803,321 | ||||||||
|
| |||||||
Jersey, Channel Islands - 0.6% | ||||||||
Galaxy Pipeline Assets Bidco Ltd. | ||||||||
1.75%, 09/30/2027 (C) | 581,941 | 545,223 | ||||||
2.16%, 03/31/2034 (B) | 1,698,880 | 1,458,086 | ||||||
|
| |||||||
2,003,309 | ||||||||
|
| |||||||
Kazakhstan - 0.3% | ||||||||
KazMunayGas National Co. JSC | ||||||||
6.38%, 10/24/2048 (C) | 520,000 | 478,448 | ||||||
6.38%, 10/24/2048 (B) | 600,000 | 552,055 | ||||||
|
| |||||||
1,030,503 | ||||||||
|
| |||||||
Luxembourg - 4.2% | ||||||||
Ambipar Lux SARL | ||||||||
9.88%, 02/06/2031 (C) | 895,000 | 889,182 | ||||||
Chile Electricity Lux MPC SARL | ||||||||
6.01%, 01/20/2033 (C) | 1,100,000 | 1,123,672 | ||||||
Cosan Luxembourg SA | ||||||||
7.25%, 06/27/2031 (C) | 1,070,000 | 1,077,704 | ||||||
CSN Resources SA | ||||||||
4.63%, 06/10/2031 (C) | 1,215,000 | 989,018 | ||||||
5.88%, 04/08/2032 (C) | 350,000 | 300,854 | ||||||
EIG Pearl Holdings SARL | ||||||||
3.55%, 08/31/2036 (C) | 350,000 | 295,085 | ||||||
4.39%, 11/30/2046 (C) | 1,460,000 | 1,114,871 | ||||||
FS Luxembourg SARL | ||||||||
8.88%, 02/12/2031 (C) (I) | 895,000 | 884,618 | ||||||
Guara Norte SARL | ||||||||
5.20%, 06/15/2034 (C) | 882,494 | 806,379 | ||||||
Kenbourne Invest SA | ||||||||
4.70%, 01/22/2028 (B) | 1,254,000 | 723,357 | ||||||
MC Brazil Downstream Trading SARL | ||||||||
7.25%, 06/30/2031 (C) | 1,140,292 | 876,681 | ||||||
Mexico Remittances Funding Fiduciary Estate Management SARL | ||||||||
4.88%, 01/15/2028 (C) | 800,000 | 703,373 | ||||||
Millicom International Cellular SA | ||||||||
5.13%, 01/15/2028 (B) | 535,500 | 501,663 | ||||||
Minerva Luxembourg SA | ||||||||
8.88%, 09/13/2033 (C) | 750,000 | 785,862 | ||||||
Simpar Europe SA | ||||||||
5.20%, 01/26/2031 (C) | 1,325,000 | 1,136,651 | ||||||
Tierra Mojada Luxembourg II SARL | ||||||||
5.75%, 12/01/2040 (B) | 1,325,341 | 1,157,497 | ||||||
|
| |||||||
13,366,467 | ||||||||
|
| |||||||
Mexico - 5.4% | ||||||||
Alsea SAB de CV | ||||||||
7.75%, 12/14/2026 (C) | 865,000 | 874,881 | ||||||
Banco Mercantil del Norte SA | ||||||||
Fixed until 01/24/2032 (H), | 1,300,000 | 1,100,884 | ||||||
Fixed until 10/14/2030 (H), | 875,000 | 861,587 | ||||||
BBVA Bancomer SA | ||||||||
Fixed until 06/29/2033, | 1,500,000 | 1,565,751 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Mexico (continued) | ||||||||
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy | ||||||||
7.88%, 02/15/2039 (C) (E) | $ 550,000 | $ 568,645 | ||||||
CIBANCO SA Institucion de Banca Multiple Trust | ||||||||
4.38%, 07/22/2031 (C) | 1,000,000 | 760,818 | ||||||
Infraestructura Energetica Nova SAPI de CV | ||||||||
4.75%, 01/15/2051 (C) | 1,200,000 | 917,166 | ||||||
Mexico City Airport Trust | ||||||||
5.50%, 07/31/2047 | 1,200,000 | 986,839 | ||||||
Petroleos Mexicanos | ||||||||
6.50%, 03/13/2027 | 2,170,000 | 2,035,161 | ||||||
6.70%, 02/16/2032 | 1,180,000 | 963,387 | ||||||
7.19%, 09/12/2024 (B) | MXN 14,090,000 | 784,984 | ||||||
7.69%, 01/23/2050 | $ 5,125,000 | 3,582,656 | ||||||
Sitios Latinoamerica SAB de CV | ||||||||
5.38%, 04/04/2032 (C) | 1,000,000 | 929,976 | ||||||
Total Play Telecomunicaciones SA de CV | ||||||||
6.38%, 09/20/2028 (C) | 165,000 | 72,023 | ||||||
Trust Fibra Uno | ||||||||
4.87%, 01/15/2030 (C) | 710,000 | 648,611 | ||||||
6.95%, 01/30/2044 (C) | 540,000 | 475,608 | ||||||
|
| |||||||
17,128,977 | ||||||||
|
| |||||||
Multi-National - 0.3% | ||||||||
JBS USA LUX SA/JBS USA Food Co./JBS Luxembourg SARL | ||||||||
6.75%, 03/15/2034 (C) | 850,000 | 894,642 | ||||||
|
| |||||||
Netherlands - 3.3% | ||||||||
Braskem Netherlands Finance BV | ||||||||
4.50%, 01/31/2030 (C) | 200,000 | 158,237 | ||||||
8.50%, 01/12/2031 (C) | 890,000 | 847,707 | ||||||
Embraer Netherlands Finance BV | ||||||||
7.00%, 07/28/2030 (C) | 800,000 | 840,902 | ||||||
IHS Netherlands Holdco BV | ||||||||
8.00%, 09/18/2027 (C) | 1,725,000 | 1,587,000 | ||||||
8.00%, 09/18/2027 (B) | 350,000 | 322,000 | ||||||
Minejesa Capital BV | ||||||||
4.63%, 08/10/2030 (C) | 1,000,000 | 950,000 | ||||||
Mong Duong Finance Holdings BV | ||||||||
5.13%, 05/07/2029 (C) | 825,450 | 773,686 | ||||||
MV24 Capital BV | ||||||||
6.75%, 06/01/2034 (C) | 886,996 | 832,983 | ||||||
Prosus NV | ||||||||
3.68%, 01/21/2030 (C) | 685,000 | 596,142 | ||||||
4.19%, 01/19/2032 (C) | 1,285,000 | 1,107,122 | ||||||
4.99%, 01/19/2052 (C) | 915,000 | 671,833 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||
3.15%, 10/01/2026 | 1,800,000 | 1,677,876 | ||||||
|
| |||||||
10,365,488 | ||||||||
|
| |||||||
Nigeria - 0.4% | ||||||||
SEPLAT Energy PLC | ||||||||
7.75%, 04/01/2026 (C) | 1,200,000 | 1,113,000 | ||||||
|
| |||||||
Northern Mariana Islands - 1.0% | ||||||||
Axian Telecom | ||||||||
7.38%, 02/16/2027 (C) | 500,000 | 470,725 | ||||||
Greenko Wind Projects Mauritius Ltd. | ||||||||
5.50%, 04/06/2025 (C) | 1,250,000 | 1,231,375 | ||||||
HTA Group Ltd. | ||||||||
7.00%, 12/18/2025 (B) | 1,450,000 | 1,429,990 | ||||||
|
| |||||||
3,132,090 | ||||||||
|
|
Transamerica Funds | Page 2 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Panama - 0.2% | ||||||||
AES Panama Generation Holdings SRL | ||||||||
4.38%, 05/31/2030 (B) | $ 638,362 | $ 545,416 | ||||||
|
| |||||||
Peru - 0.9% | ||||||||
Consorcio Transmantaro SA | ||||||||
5.20%, 04/11/2038 (C) | 1,090,000 | 1,027,932 | ||||||
Hunt Oil Co. of Peru LLC Sucursal Del Peru | ||||||||
8.55%, 09/18/2033 (C) | 980,000 | 1,045,554 | ||||||
Petroleos del Peru SA | ||||||||
5.63%, 06/19/2047 (C) | 725,000 | 462,516 | ||||||
5.63%, 06/19/2047 (B) | 540,000 | 344,495 | ||||||
|
| |||||||
2,880,497 | ||||||||
|
| |||||||
Qatar - 0.2% | ||||||||
QatarEnergy | ||||||||
3.13%, 07/12/2041 (C) | 900,000 | 665,928 | ||||||
|
| |||||||
Republic of South Africa - 0.2% | ||||||||
Eskom Holdings SOC Ltd. | ||||||||
7.50%, 09/15/2033 | ZAR 20,000,000 | 784,707 | ||||||
|
| |||||||
Singapore - 0.7% | ||||||||
LLPL Capital Pte. Ltd. | ||||||||
6.88%, 02/04/2039 (C) | $ 1,206,900 | 1,156,213 | ||||||
Medco Maple Tree Pte. Ltd. | ||||||||
8.96%, 04/27/2029 (C) | 1,105,000 | 1,131,244 | ||||||
|
| |||||||
2,287,457 | ||||||||
|
| |||||||
Spain - 0.3% | ||||||||
AI Candelaria Spain SA | ||||||||
5.75%, 06/15/2033 (C) | 1,075,000 | 830,697 | ||||||
|
| |||||||
Supranational - 0.3% | ||||||||
Corp. Andina de Fomento | ||||||||
5.00%, 01/24/2029 | 820,000 | 822,304 | ||||||
|
| |||||||
Thailand - 0.5% | ||||||||
Bangkok Bank PCL | ||||||||
Fixed until 09/23/2031, | 765,000 | 638,985 | ||||||
Fixed until 09/23/2031, | 1,000,000 | 835,274 | ||||||
|
| |||||||
1,474,259 | ||||||||
|
| |||||||
Turkey - 0.8% | ||||||||
TAV Havalimanlari Holding AS | ||||||||
8.50%, 12/07/2028 (C) | 980,000 | 999,590 | ||||||
Ulker Biskuvi Sanayi AS | ||||||||
6.95%, 10/30/2025 (C) | 870,000 | 852,600 | ||||||
Yapi ve Kredi Bankasi AS | ||||||||
Fixed until 01/17/2029, | 810,000 | 813,038 | ||||||
|
| |||||||
2,665,228 | ||||||||
|
| |||||||
Ukraine - 0.2% | ||||||||
VF Ukraine PAT via VFU Funding PLC | ||||||||
6.20%, 02/11/2025 (C) | 650,000 | 509,413 | ||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
United Arab Emirates - 0.5% | ||||||||
Nbk Tier 2 Ltd. | ||||||||
Fixed until 11/24/2025, | $ 435,000 | $ 406,181 | ||||||
Sweihan PV Power Co. PJSC | ||||||||
3.63%, 01/31/2049 (C) | 1,423,755 | 1,124,263 | ||||||
|
| |||||||
1,530,444 | ||||||||
|
| |||||||
United Kingdom - 2.6% | ||||||||
Energean PLC | ||||||||
6.50%, 04/30/2027 (C) | 1,430,000 | 1,286,620 | ||||||
HSBC Holdings PLC | ||||||||
Fixed until 11/13/2033, | 640,000 | 698,988 | ||||||
Liquid Telecommunications Financing PLC | ||||||||
5.50%, 09/04/2026 (C) | 750,000 | 467,550 | ||||||
Standard Chartered PLC | ||||||||
Fixed until 07/06/2026, | 1,700,000 | 1,729,143 | ||||||
Fixed until 07/06/2033, | 990,000 | 1,035,571 | ||||||
Tullow Oil PLC | ||||||||
7.00%, 03/01/2025 (B) | 500,000 | 471,250 | ||||||
10.25%, 05/15/2026 (C) | 1,000,000 | 920,860 | ||||||
WE Soda Investments Holding PLC | ||||||||
9.50%, 10/06/2028 (C) (E) | 1,700,000 | 1,737,910 | ||||||
|
| |||||||
8,347,892 | ||||||||
|
| |||||||
United States - 1.4% | ||||||||
Kosmos Energy Ltd. | ||||||||
7.75%, 05/01/2027 (C) | 800,000 | 756,000 | ||||||
Resorts World Las Vegas LLC/RWLV Capital, Inc. | ||||||||
4.63%, 04/16/2029 (C) | 700,000 | 621,950 | ||||||
8.45%, 07/27/2030 (C) | 600,000 | 624,732 | ||||||
Sasol Financing USA LLC | ||||||||
4.38%, 09/18/2026 | 425,000 | 397,087 | ||||||
5.50%, 03/18/2031 | 1,100,000 | 923,369 | ||||||
SierraCol Energy Andina LLC | ||||||||
6.00%, 06/15/2028 (B) | 1,215,000 | 1,023,550 | ||||||
|
| |||||||
4,346,688 | ||||||||
|
| |||||||
Venezuela - 0.3% | ||||||||
Petroleos de Venezuela SA | ||||||||
8.50%, 10/27/2020 (B) (J) (K) | 1,195,000 | 1,000,812 | ||||||
|
| |||||||
Virgin Islands, British - 0.3% | ||||||||
Studio City Finance Ltd. | ||||||||
6.50%, 01/15/2028 (B) | 940,000 | 871,850 | ||||||
|
| |||||||
Total Corporate Debt Securities |
| 119,459,218 | ||||||
|
| |||||||
FOREIGN GOVERNMENT OBLIGATIONS - 55.3% | ||||||||
Angola - 1.3% | ||||||||
Angola Government International Bonds | ||||||||
8.25%, 05/09/2028 (C) | 1,135,000 | 1,024,111 | ||||||
8.25%, 05/09/2028 (B) | 620,000 | 559,426 | ||||||
8.75%, 04/14/2032 (C) | 2,000,000 | 1,716,304 | ||||||
9.13%, 11/26/2049 (B) | 900,000 | 711,275 | ||||||
|
| |||||||
4,011,116 | ||||||||
|
|
Transamerica Funds | Page 3 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
FOREIGN GOVERNMENT OBLIGATIONS (continued) | ||||||||
Argentina - 1.2% | ||||||||
Argentina Republic Government International Bonds | ||||||||
0.75% (A), 07/09/2030 | $ 1,250,000 | $ 505,850 | ||||||
3.50% (A), 07/09/2041 | 1,925,000 | 639,377 | ||||||
3.63% (A), 07/09/2035 - 07/09/2046 | 7,840,000 | 2,644,161 | ||||||
|
| |||||||
3,789,388 | ||||||||
|
| |||||||
Bahamas - 0.5% | ||||||||
Bahamas Government International Bonds | ||||||||
8.95%, 10/15/2032 (C) | 1,315,000 | 1,255,825 | ||||||
8.95%, 10/15/2032 (B) | 270,000 | 257,850 | ||||||
|
| |||||||
1,513,675 | ||||||||
|
| |||||||
Brazil - 4.4% | ||||||||
Brazil Government International Bonds | ||||||||
7.13%, 05/13/2054 | 2,790,000 | 2,788,224 | ||||||
Brazil Notas do Tesouro Nacional | ||||||||
Series F, | ||||||||
10.00%, 01/01/2025 - 01/01/2035 | BRL 55,915,000 | 11,155,244 | ||||||
|
| |||||||
13,943,468 | ||||||||
|
| |||||||
Cayman Islands - 0.2% | ||||||||
KSA Sukuk Ltd. | ||||||||
5.27%, 10/25/2028 (C) | $ 745,000 | 762,941 | ||||||
|
| |||||||
Chile - 1.3% | ||||||||
Bonos de la Tesoreria de la Republica en pesos | ||||||||
5.80%, 10/01/2034 (B) | CLP 1,420,000,000 | 1,602,910 | ||||||
Chile Government International Bonds | ||||||||
2.75%, 01/31/2027 | $ 1,325,000 | 1,252,563 | ||||||
3.50%, 01/31/2034 | 1,250,000 | 1,103,146 | ||||||
|
| |||||||
3,958,619 | ||||||||
|
| |||||||
China - 0.6% | ||||||||
China Government Bonds | ||||||||
3.27%, 11/19/2030 | CNY 12,150,000 | 1,787,386 | ||||||
|
| |||||||
Colombia - 2.8% | ||||||||
Colombia Government International Bonds | ||||||||
7.50%, 02/02/2034 | $ 3,270,000 | 3,345,447 | ||||||
8.75%, 11/14/2053 | 1,170,000 | 1,276,229 | ||||||
Colombia TES | ||||||||
Series B, | ||||||||
7.00%, 06/30/2032 | COP 8,243,600,000 | 1,826,597 | ||||||
7.25%, 10/26/2050 | 4,053,300,000 | 777,866 | ||||||
13.25%, 02/09/2033 | 4,959,000,000 | 1,549,233 | ||||||
|
| |||||||
8,775,372 | ||||||||
|
| |||||||
Costa Rica - 0.4% | ||||||||
Costa Rica Government International Bonds | ||||||||
6.55%, 04/03/2034 (C) | $ 695,000 | 710,987 | ||||||
7.30%, 11/13/2054 (C) | 570,000 | 596,450 | ||||||
|
| |||||||
1,307,437 | ||||||||
|
| |||||||
Cote d’Ivoire - 1.5% | ||||||||
Ivory Coast Government International Bonds | ||||||||
4.88%, 01/30/2032 (C) | EUR 1,030,000 | 932,239 | ||||||
6.88%, 10/17/2040 (C) | 1,600,000 | 1,441,395 | ||||||
8.25%, 01/30/2037 (C) | $ 2,400,000 | 2,384,400 | ||||||
|
| |||||||
4,758,034 | ||||||||
|
|
Principal | Value | |||||||
FOREIGN GOVERNMENT OBLIGATIONS (continued) | ||||||||
Dominican Republic - 1.5% | ||||||||
Dominican Republic International Bonds | ||||||||
4.88%, 09/23/2032 (C) | $ 2,300,000 | $ 2,049,802 | ||||||
11.25%, 09/15/2035 (C) | DOP 148,050,000 | 2,693,677 | ||||||
|
| |||||||
4,743,479 | ||||||||
|
| |||||||
Ecuador - 0.2% | ||||||||
Ecuador Government International Bonds | ||||||||
2.50% (A), 07/31/2040 (C) | $ 1,870,000 | 689,563 | ||||||
|
| |||||||
Egypt - 0.8% | ||||||||
Egypt Government International Bonds | ||||||||
7.30%, 09/30/2033 (C) | 2,530,000 | 1,663,526 | ||||||
8.70%, 03/01/2049 (C) | 830,000 | 510,707 | ||||||
8.88%, 05/29/2050 (C) | 605,000 | 378,437 | ||||||
|
| |||||||
2,552,670 | ||||||||
|
| |||||||
El Salvador - 0.6% | ||||||||
El Salvador Government International Bonds | ||||||||
7.63%, 02/01/2041 (C) | 2,205,000 | 1,659,262 | ||||||
9.50%, 07/15/2052 (C) | 440,000 | 374,000 | ||||||
|
| |||||||
2,033,262 | ||||||||
|
| |||||||
Gabon - 0.5% | ||||||||
Gabon Government International Bonds | ||||||||
6.63%, 02/06/2031 (C) | 1,750,000 | 1,427,860 | ||||||
|
| |||||||
Ghana - 0.5% | ||||||||
Ghana Government International Bonds | ||||||||
7.63% (G), 05/16/2029 (C) (F) | 1,900,000 | 838,432 | ||||||
7.88% (G), 02/11/2035 (B) (F) | 1,110,000 | 490,180 | ||||||
8.88% (G), 05/07/2042 (B) (F) | 650,000 | 283,589 | ||||||
|
| |||||||
1,612,201 | ||||||||
|
| |||||||
Guatemala - 0.4% | ||||||||
Guatemala Government Bonds | ||||||||
4.88%, 02/13/2028 (C) | 700,000 | 674,181 | ||||||
5.38%, 04/24/2032 (C) | 625,000 | 597,518 | ||||||
|
| |||||||
1,271,699 | ||||||||
|
| |||||||
Hungary - 2.0% | ||||||||
Hungary Government Bonds | ||||||||
3.00%, 10/27/2038 | HUF 965,400,000 | 1,901,107 | ||||||
4.75%, 11/24/2032 | 689,490,000 | 1,783,544 | ||||||
Hungary Government International Bonds | ||||||||
2.13%, 09/22/2031 (C) | $ 750,000 | 599,062 | ||||||
5.50%, 03/26/2036 (C) | 850,000 | 832,184 | ||||||
6.13%, 05/22/2028 (C) | 1,200,000 | 1,234,320 | ||||||
|
| |||||||
6,350,217 | ||||||||
|
| |||||||
Indonesia - 5.2% | ||||||||
Indonesia Government International Bonds | ||||||||
4.35%, 01/08/2027 (C) | 1,400,000 | 1,385,019 | ||||||
4.55%, 01/11/2028 | 2,875,000 | 2,849,868 | ||||||
4.65%, 09/20/2032 | 1,300,000 | 1,277,394 | ||||||
Indonesia Treasury Bonds | ||||||||
7.13%, 06/15/2038 | IDR 32,804,000,000 | 2,144,338 | ||||||
8.25%, 05/15/2036 | 26,291,000,000 | 1,873,209 | ||||||
8.38%, 03/15/2034 | 47,296,000,000 | 3,369,375 | ||||||
Series FR73, | ||||||||
8.75%, 05/15/2031 | 21,819,000,000 | 1,549,094 |
Transamerica Funds | Page 4 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
FOREIGN GOVERNMENT OBLIGATIONS (continued) | ||||||||
Indonesia (continued) | ||||||||
Perusahaan Penerbit SBSN Indonesia III | ||||||||
4.40%, 06/06/2027 (C) | $ 2,000,000 | $ 1,978,729 | ||||||
|
| |||||||
16,427,026 | ||||||||
|
| |||||||
Malaysia - 1.3% | ||||||||
Malaysia Government Bonds | ||||||||
3.76%, 05/22/2040 | MYR 13,063,000 | 2,653,088 | ||||||
4.70%, 10/15/2042 | 6,179,000 | 1,409,047 | ||||||
|
| |||||||
4,062,135 | ||||||||
|
| |||||||
Mexico - 5.7% | ||||||||
Mexico Bonos | ||||||||
7.50%, 06/03/2027 | MXN 39,787,100 | 2,187,984 | ||||||
7.75%, 11/23/2034 | 38,330,000 | 1,999,066 | ||||||
8.00%, 07/31/2053 | 19,216,000 | 963,251 | ||||||
Series M, | ||||||||
7.75%, 05/29/2031 | 43,038,600 | 2,311,404 | ||||||
Series M30, | ||||||||
10.00%, 11/20/2036 | 43,050,000 | 2,650,462 | ||||||
Mexico Government International Bonds | ||||||||
4.49%, 05/25/2032 | EUR 550,000 | 602,207 | ||||||
5.00%, 05/07/2029 | $ 1,265,000 | 1,261,872 | ||||||
6.35%, 02/09/2035 | 5,625,000 | 5,849,993 | ||||||
|
| |||||||
17,826,239 | ||||||||
|
| |||||||
Morocco - 0.5% | ||||||||
Morocco Government International Bonds | ||||||||
3.00%, 12/15/2032 (C) | 1,985,000 | 1,592,962 | ||||||
|
| |||||||
Multi-National - 0.1% | ||||||||
Suriname Government International Bonds | ||||||||
9.00% (G), 12/31/2050 (C) | 630,000 | 415,800 | ||||||
|
| |||||||
Nigeria - 0.9% | ||||||||
Nigeria Government International Bonds | ||||||||
6.13%, 09/28/2028 (C) | 760,000 | 659,920 | ||||||
7.38%, 09/28/2033 (C) | 2,750,000 | 2,259,125 | ||||||
|
| |||||||
2,919,045 | ||||||||
|
| |||||||
Oman - 0.2% | ||||||||
Oman Government International Bonds | ||||||||
6.25%, 01/25/2031 (C) | 625,000 | 646,363 | ||||||
|
| |||||||
Pakistan - 0.2% | ||||||||
Pakistan Government International Bonds | ||||||||
8.88%, 04/08/2051 (C) | 810,000 | 504,486 | ||||||
|
| |||||||
Panama - 0.1% | ||||||||
Panama Government International Bonds | ||||||||
4.50%, 04/16/2050 | 505,000 | 332,824 | ||||||
|
| |||||||
Papua New Guinea - 0.2% | ||||||||
Papua New Guinea Government International Bonds | ||||||||
8.38%, 10/04/2028 (B) | 815,000 | 758,233 | ||||||
|
| |||||||
Peru - 0.2% | ||||||||
Peru Government International Bonds | ||||||||
6.90%, 08/12/2037 (C) | PEN 2,814,000 | 746,578 | ||||||
|
| |||||||
Philippines - 0.3% | ||||||||
Asian Development Bank | ||||||||
11.75%, 07/24/2024 | COP 3,633,000,000 | 926,309 | ||||||
|
|
Principal | Value | |||||||
FOREIGN GOVERNMENT OBLIGATIONS (continued) | ||||||||
Poland - 2.9% | ||||||||
Bank Gospodarstwa Krajowego | ||||||||
6.25%, 10/31/2028 (C) | $ 580,000 | $ 608,776 | ||||||
Republic of Poland Government Bonds | ||||||||
Series 0432, | ||||||||
1.75%, 04/25/2032 | PLN 11,257,000 | 2,185,868 | ||||||
Series 0726, | ||||||||
2.50%, 07/25/2026 | 12,056,000 | 2,846,242 | ||||||
Series 0728, | ||||||||
7.50%, 07/25/2028 | 9,152,000 | 2,512,843 | ||||||
Republic of Poland Government International Bonds | ||||||||
5.50%, 11/16/2027 | $ 970,000 | 1,000,361 | ||||||
|
| |||||||
9,154,090 | ||||||||
|
| |||||||
Qatar - 0.2% | ||||||||
Qatar Government International Bonds | ||||||||
3.40%, 04/16/2025 (C) | 750,000 | 735,585 | ||||||
|
| |||||||
Republic of South Africa - 3.7% | ||||||||
Republic of South Africa Government Bonds | ||||||||
8.25%, 03/31/2032 | ZAR 45,623,000 | 2,125,865 | ||||||
8.50%, 01/31/2037 | 49,541,000 | 2,060,493 | ||||||
8.75%, 02/28/2048 | 42,418,000 | 1,663,642 | ||||||
8.88%, 02/28/2035 | 43,933,000 | 1,976,486 | ||||||
11.63%, 03/31/2053 | 38,375,000 | 1,940,241 | ||||||
Republic of South Africa Government International Bonds | ||||||||
7.30%, 04/20/2052 | $ 2,245,000 | 1,980,988 | ||||||
|
| |||||||
11,747,715 | ||||||||
|
| |||||||
Romania - 2.3% | ||||||||
Romania Government Bonds | ||||||||
7.35%, 04/28/2031 | RON 11,715,000 | 2,689,157 | ||||||
Romania Government International Bonds | ||||||||
6.00%, 05/25/2034 (C) | $ 2,359,000 | 2,355,660 | ||||||
6.63%, 02/17/2028 (C) | 850,000 | 879,878 | ||||||
7.63%, 01/17/2053 (C) | 1,290,000 | 1,439,962 | ||||||
|
| |||||||
7,364,657 | ||||||||
|
| |||||||
Saudi Arabia - 3.4% | ||||||||
Saudi Government International Bonds | ||||||||
4.63%, 10/04/2047 (C) | 4,848,000 | 4,175,340 | ||||||
5.75%, 01/16/2054 (C) | 6,805,000 | 6,687,342 | ||||||
|
| |||||||
10,862,682 | ||||||||
|
| |||||||
Senegal - 0.3% | ||||||||
Senegal Government International Bonds | ||||||||
6.75%, 03/13/2048 (C) | 1,100,000 | 823,704 | ||||||
|
| |||||||
Serbia - 0.7% | ||||||||
Serbia International Bonds | ||||||||
6.50%, 09/26/2033 (C) | 2,075,000 | 2,115,130 | ||||||
|
| |||||||
Sri Lanka - 0.4% | ||||||||
Sri Lanka Government International Bonds | ||||||||
6.20% (G), 05/11/2027 (B) (F) | 2,355,000 | 1,197,775 | ||||||
|
| |||||||
Supranational - 1.3% | ||||||||
Asian Development Bank | ||||||||
6.20%, 10/06/2026 | INR 38,300,000 | 455,668 | ||||||
11.20%, 01/31/2025 | COP 2,792,000,000 | 714,037 | ||||||
Asian Infrastructure Investment Bank | ||||||||
6.00%, 12/08/2031 (B) | INR 126,500,000 | 1,428,478 |
Transamerica Funds | Page 5 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
Principal | Value | |||||||
FOREIGN GOVERNMENT OBLIGATIONS (continued) | ||||||||
Supranational (continued) | ||||||||
Central American Bank for Economic Integration | ||||||||
5.00%, 01/25/2027 (C) | $ 380,000 | $ 380,710 | ||||||
European Bank for Reconstruction & Development | ||||||||
Zero Coupon, 02/13/2031 | TRY 89,000,000 | 177,781 | ||||||
6.25%, 04/11/2028 | INR 73,000,000 | 856,440 | ||||||
|
| |||||||
4,013,114 | ||||||||
|
| |||||||
Tunisia - 0.3% | ||||||||
Tunisian Republic | ||||||||
5.75%, 01/30/2025 (B) | $ 1,200,000 | 1,019,962 | ||||||
|
| |||||||
Turkey - 2.5% | ||||||||
Hazine Mustesarligi Varlik Kiralama AS | ||||||||
8.51%, 01/14/2029 (C) | 1,800,000 | 1,864,872 | ||||||
Istanbul Metropolitan Municipality | ||||||||
10.50%, 12/06/2028 (C) | 2,045,000 | 2,157,475 | ||||||
Turkiye Government Bonds | ||||||||
9.00%, 07/24/2024 | TRY 32,865,000 | 954,163 | ||||||
17.80%, 07/13/2033 | 19,613,576 | 480,886 | ||||||
Turkiye Government International Bonds | ||||||||
6.00%, 03/25/2027 | $ 2,340,000 | 2,275,650 | ||||||
|
| |||||||
7,733,046 | ||||||||
|
| |||||||
Ukraine - 0.5% | ||||||||
Ukraine Government International Bonds | ||||||||
7.75% (G), 09/01/2026 - 08/01/2041 (B) | 5,665,000 | 1,531,846 | ||||||
|
| |||||||
Uruguay - 0.8% | ||||||||
Uruguay Government International Bonds | ||||||||
3.88%, 07/02/2040 (E) | UYU 60,675,569 | 1,648,436 | ||||||
9.75%, 07/20/2033 | 32,148,122 | 846,370 | ||||||
|
| |||||||
2,494,806 | ||||||||
|
| |||||||
Zambia - 0.4% | ||||||||
Zambia Government International Bonds | ||||||||
8.97% (G), 07/30/2027 (B) | $ 2,200,000 | 1,379,400 | ||||||
|
| |||||||
Total Foreign Government Obligations |
| 174,619,899 | ||||||
|
| |||||||
SHORT-TERM FOREIGN GOVERNMENT OBLIGATIONS - 1.6% | ||||||||
Czech Republic - 0.4% | ||||||||
Czech Republic Government Bonds | ||||||||
5.70% (L), 05/25/2024 (B) | CZK 31,030,000 | 1,349,915 | ||||||
|
| |||||||
Egypt - 0.8% | ||||||||
Egypt Treasury Bills | ||||||||
25.30% (L), 04/09/2024 | EGP 78,750,000 | 2,443,591 | ||||||
|
| |||||||
Republic of Korea - 0.3% | ||||||||
Export-Import Bank of Korea | ||||||||
8.00% (L), 05/15/2024 (C) | IDR 15,200,000,000 | 965,364 | ||||||
|
| |||||||
Venezuela - 0.1% | ||||||||
Venezuela Government International Bonds | ||||||||
9.00% (L), 05/07/2023 (B) (J) (K) | $ 1,560,000 | 217,766 | ||||||
|
| |||||||
Total Short-Term Foreign Government Obligations |
| 4,976,636 | ||||||
|
|
Shares | Value | |||||||
OTHER INVESTMENT COMPANY - 1.9% | ||||||||
Securities Lending Collateral - 1.9% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.30% (L) | 5,981,233 | $ 5,981,233 | ||||||
|
| |||||||
Total Other Investment Company |
| 5,981,233 | ||||||
|
| |||||||
Principal | Value | |||||||
REPURCHASE AGREEMENT - 7.9% | ||||||||
Fixed Income Clearing Corp., 2.50% (L), dated 01/31/2024, to be repurchased at $25,053,760 on 02/01/2024. Collateralized by a U.S. Government Obligation, 0.13%, due 07/15/2026, and with a value of $25,553,130. | $ 25,052,020 | 25,052,020 | ||||||
|
| |||||||
Total Repurchase Agreement | 25,052,020 | |||||||
|
| |||||||
Total Investments | 330,089,006 | |||||||
Net Other Assets (Liabilities) - (4.6)% | (14,479,294 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ 315,609,712 | |||||||
|
|
Transamerica Funds | Page 6 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
FORWARD FOREIGN CURRENCY CONTRACTS:
Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||||
BCLY | 02/29/2024 | PLN | 8,722,193 | USD | 2,178,914 | $ | — | $ | (1,387 | ) | ||||||||||||||
BCLY | 02/29/2024 | USD | 2,886,000 | ZAR | 53,807,738 | 19,418 | — | |||||||||||||||||
CA | 02/02/2024 | BRL | 17,123,697 | USD | 3,534,339 | — | (78,936 | ) | ||||||||||||||||
CA | 02/12/2024 | CLP | 1,949,215,500 | USD | 2,127,500 | — | (33,477 | ) | ||||||||||||||||
HSBC | 02/02/2024 | USD | 3,477,952 | BRL | 17,123,697 | 22,549 | — | |||||||||||||||||
HSBC | 02/02/2024 | BRL | 34,247,394 | USD | 6,913,777 | — | (2,970 | ) | ||||||||||||||||
HSBC | 02/29/2024 | USD | 6,497,354 | EUR | 5,996,845 | 8,190 | — | |||||||||||||||||
HSBC | 03/04/2024 | BRL | 17,123,697 | USD | 3,469,004 | — | (22,931 | ) | ||||||||||||||||
JPM | 02/29/2024 | EUR | 501,770 | USD | 543,129 | — | (165 | ) | ||||||||||||||||
|
|
|
| |||||||||||||||||||||
Total | $ | 50,157 | $ | (139,866 | ) | |||||||||||||||||||
|
|
|
|
INVESTMENTS BY INDUSTRY:
Industry | Percentage of Total Investments | Value | ||||||||
Foreign Government Obligations | 52.9 | % | $ | 174,619,899 | ||||||
Oil, Gas & Consumable Fuels | 9.4 | 31,065,648 | ||||||||
Electric Utilities | 4.2 | 13,950,415 | ||||||||
Banks | 3.4 | 11,380,326 | ||||||||
Food Products | 2.0 | 6,569,372 | ||||||||
Metals & Mining | 1.9 | 6,246,634 | ||||||||
Wireless Telecommunication Services | 1.9 | 6,226,187 | ||||||||
Hotels, Restaurants & Leisure | 1.8 | 6,019,355 | ||||||||
Chemicals | 1.4 | 4,648,706 | ||||||||
Construction & Engineering | 1.3 | 4,268,966 | ||||||||
Energy Equipment & Services | 1.2 | 4,046,635 | ||||||||
Transportation Infrastructure | 1.2 | 4,029,081 | ||||||||
Financial Services | 0.7 | 2,336,813 | ||||||||
Diversified Telecommunication Services | 0.6 | 2,150,323 | ||||||||
Broadline Retail | 0.6 | 2,073,228 | ||||||||
Diversified REITs | 0.6 | 1,885,037 | ||||||||
Pharmaceuticals | 0.5 | 1,677,876 | ||||||||
Internet & Catalog Retail | 0.5 | 1,497,965 | ||||||||
Air Freight & Logistics | 0.3 | 999,590 | ||||||||
Industrial Conglomerates | 0.3 | 889,182 | ||||||||
Gas Utilities | 0.3 | 884,275 | ||||||||
Communications Equipment | 0.3 | 859,697 | ||||||||
Aerospace & Defense | 0.3 | 840,902 | ||||||||
Marine Transportation | 0.3 | 832,983 | ||||||||
Interactive Media & Services | 0.2 | 788,927 | ||||||||
Real Estate Management & Development | 0.2 | 763,453 | ||||||||
Beverages | 0.2 | 756,645 | ||||||||
Ground Transportation | 0.2 | 669,653 | ||||||||
Specialty Retail | 0.2 | 583,736 | ||||||||
Insurance | 0.2 | 517,608 | ||||||||
|
|
|
| |||||||
Investments | 89.1 | 294,079,117 | ||||||||
Short-Term Investments | 10.9 | 36,009,889 | ||||||||
|
|
|
| |||||||
Total Investments | 100.0 | % | $ | 330,089,006 | ||||||
|
|
|
|
Transamerica Funds | Page 7 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (M)
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS |
| |||||||||||||||
Investments | ||||||||||||||||
Corporate Debt Securities | $ | — | $ | 119,459,218 | $ | — | $ | 119,459,218 | ||||||||
Foreign Government Obligations | — | 174,619,899 | — | 174,619,899 | ||||||||||||
Short-Term Foreign Government Obligations | — | 4,976,636 | — | 4,976,636 | ||||||||||||
Other Investment Company | 5,981,233 | — | — | 5,981,233 | ||||||||||||
Repurchase Agreement | — | 25,052,020 | — | 25,052,020 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 5,981,233 | $ | 324,107,773 | $ | — | $ | 330,089,006 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments |
| |||||||||||||||
Forward Foreign Currency Contracts (N) | $ | — | $ | 50,157 | $ | — | $ | 50,157 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | — | $ | 50,157 | $ | — | $ | 50,157 | ||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES |
| |||||||||||||||
Other Financial Instruments |
| |||||||||||||||
Forward Foreign Currency Contracts (N) | $ | — | $ | (139,866 | ) | $ | — | $ | (139,866 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | — | $ | (139,866 | ) | $ | — | $ | (139,866 | ) | ||||||
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FOOTNOTES TO SCHEDULE OF INVESTMENTS:
(A) | Step bonds. Coupon rates change in increments to maturity. The rates disclosed are as of January 31, 2024; the maturity dates disclosed are the ultimate maturity dates. | |
(B) | Securities are exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At January 31, 2024, the total value of Regulation S securities is $34,927,761, representing 11.1% of the Fund’s net assets. | |
(C) | 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 $141,589,532, representing 44.9% of the Fund’s net assets. | |
(D) | Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2024, the value of the security is $961,350, representing 0.3% of the Fund’s net assets. | |
(E) | All or a portion of the securities are on loan. The total value of all securities on loan is $5,855,937, collateralized by cash collateral of $5,981,233. 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. | |
(F) | Securities in default; partial receipt of interest payments and/or dividends declared at last payment date. At January 31, 2024, the total value of such securities is $2,869,289, representing 0.9% of the Fund’s net assets. | |
(G) | 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. | |
(H) | Perpetual maturity. The date displayed is the next call date. | |
(I) | When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2024. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement. | |
(J) | Securities in default; no interest payments received and/or dividends declared during the last 12 months. At January 31, 2024, the total value of such securities is $1,218,578, representing 0.4% of the Fund’s net assets. | |
(K) | Non-income producing securities. | |
(L) | Rates disclosed reflect the yields at January 31, 2024. | |
(M) | 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. | |
(N) | Derivative instruments are valued at unrealized appreciation (depreciation). |
CURRENCY ABBREVIATIONS:
BRL | Brazilian Real | |
CLP | Chilean Peso |
Transamerica Funds | Page 8 |
Transamerica Emerging Markets Debt
SCHEDULE OF INVESTMENTS (continued)
At January 31, 2024
(unaudited)
CURRENCY ABBREVIATIONS (continued):
CNY | Chinese Yuan Renminbi (onshore) | |
COP | Columbian Peso | |
CZK | Czech Republic Koruna | |
DOP | Dominican Peso | |
EGP | Egyptian Pound | |
EUR | Euro | |
HUF | Hungarian Forint | |
IDR | Indonesian Rupiah | |
INR | Indian Rupee | |
MXN | Mexican Peso | |
MYR | Malaysian Ringgit | |
PEN | Peruvian Sol | |
PLN | Polish Zloty | |
RON | New Romanian Leu | |
TRY | Turkish New Lira | |
USD | United States Dollar | |
UYU | Uruguayan Peso | |
ZAR | South African Rand |
COUNTERPARTY ABBREVIATIONS:
BCLY | Barclays Bank PLC | |
CA | Credit Agricole | |
HSBC | HSBC Bank USA | |
JPM | JPMorgan Chase Bank, N.A. |
Transamerica Funds | Page 9 |
Transamerica Emerging Markets Debt
NOTES TO SCHEDULE OF INVESTMENTS
At January 31, 2024
(unaudited)
INVESTMENT VALUATION
Transamerica Emerging Markets Debt (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:
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.
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.
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.
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 10 |
Transamerica Emerging Markets Debt
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 11 |