Transamerica Asset Allocation – Conservative Portfolio

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Alternative Funds - 1.0%
Transamerica Global Allocation Liquidating Trust (A) (B) (C) (D)		1,340		$  4,963
Transamerica Global Multifactor Macro (B)		783,007		7,133,193
				7,138,156
International Equity Funds - 14.7%
Transamerica Emerging Markets Equity (B)		1,454,588		14,153,146
Transamerica Emerging Markets Opportunities (A) (B)		1,569,406		14,705,334
Transamerica International Equity (B)		1,864,235		32,959,672
Transamerica International Growth (B)		3,311,173		25,363,582
Transamerica International Small Cap Value (B)		604,439		7,857,706
Transamerica International Stock (B)		1,375,766		13,413,715
				108,453,155
International Fixed Income Funds - 7.7%
Transamerica Emerging Markets Debt (B)		2,390,257		25,814,775
Transamerica Inflation Opportunities (B)		2,908,957		30,689,497
				56,504,272
U.S. Alternative Funds - 3.6%
Transamerica Event Driven (B)		1,008,643		10,974,040
Transamerica Managed Futures Strategy (B)		2,181,709		15,119,244
				26,093,284
U.S. Equity Funds - 17.0%
Transamerica Capital Growth (B)		1,951,889		24,320,536
Transamerica Dividend Focused (B)		3,424,064		29,104,546
Transamerica Large Cap Value (B)		1,997,920		21,477,641

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds (continued)
Transamerica Mid Cap Growth (B)		44,303		$   489,107
Transamerica Mid Cap Value (B)		426,720		5,171,842
Transamerica Mid Cap Value Opportunities (B)		209,570		2,439,398
Transamerica Small Cap Core (B)		233,879		2,233,548
Transamerica Small Cap Growth (B)		231,970		1,582,038
Transamerica Small Cap Value (B)		236,793		2,216,383
Transamerica Small Company Growth Liquidating Trust (A) (B) (C) (D)		1,529		952
Transamerica US Growth (B)		1,558,765		36,178,936
				125,214,927
U.S. Fixed Income Funds - 54.2%
Transamerica Bond (B)		1,553,482		14,851,284
Transamerica Core Bond (B)		9,416,251		97,740,685
Transamerica Intermediate Bond (B)		6,389,733		67,922,864
Transamerica Short-Term Bond (B)		6,246,040		63,397,306
Transamerica Total Return (B)		14,746,614		155,576,782
				399,488,921
U.S. Mixed Allocation Fund - 1.9%
Transamerica MLP & Energy Income (B)		2,171,614		14,202,357
Total Investment Companies (Cost $703,104,302)				737,095,072
Total Investments (Cost $703,104,302)				737,095,072
Net Other Assets (Liabilities) - (0.1)%				(585,303	)
Net Assets - 100.0%				$  736,509,769

SECURITY VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	737,089,157	$	—	$	—	$	737,089,157
Total	$	737,089,157	$	—	$	—	$	737,089,157
Investment Companies Measured at Net Asset Value (D)								5,915
Total Investments							$	737,095,072

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation – Conservative Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Affiliated investment in the Class I2 shares of Transamerica Funds, and liquidating trusts of former Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Bond	$	15,326,725	$	120,096	$	(765,545	)	$	5,962		$	164,046		$	14,851,284		1,553,482	$	121,485	$	—
Transamerica Capital Growth		22,292,697		4,454,586		(1,141,026	)		68,352			(1,354,073	)		24,320,536		1,951,889		—		4,453,020
Transamerica Core Bond		101,392,071		728,454		(5,492,528	)		(87,485	)		1,200,173			97,740,685		9,416,251		720,929		—
Transamerica Dividend Focused		30,261,321		3,606,544		(1,388,917	)		(87,624	)		(3,286,778	)		29,104,546		3,424,064		436,147		3,168,490
Transamerica Emerging Markets Debt		26,082,827		447,555		(1,348,817	)		9,485			623,725			25,814,775		2,390,257		445,704		—
Transamerica Emerging Markets Equity		31,369,139		848,806		(18,315,528	)		(1,339,756	)		1,590,485			14,153,146		1,454,588		846,700		—
Transamerica Emerging Markets Opportunities		—		15,626,541		—			—			(921,207	)		14,705,334		1,569,406		—		—
Transamerica Event Driven		11,030,342		46,844		(550,463	)		23,046			424,271			10,974,040		1,008,643		46,088		—
Transamerica Floating Rate		8,302,690		32,752		(8,327,528	)		(290,760	)		282,846			—		—		44,285		—
Transamerica Global Allocation Liquidating Trust		5,067		—		—			—			(104	)		4,963		1,340		—		—
Transamerica Global Multifactor Macro		7,398,044		166,658		(355,665	)		(26,872	)		(48,972	)		7,133,193		783,007		166,158		—
Transamerica Inflation Opportunities		31,556,645		136,140		(1,589,417	)		35,016			551,113			30,689,497		2,908,957		133,958		—
Transamerica Intermediate Bond		70,173,524		441,191		(3,513,048	)		70,013			751,184			67,922,864		6,389,733		436,383		—
Transamerica International Equity		34,004,936		971,553		(1,603,999	)		(6,188	)		(406,630	)		32,959,672		1,864,235		969,350		—
Transamerica International Growth		25,394,176		498,178		(973,336	)		(154,630	)		599,194			25,363,582		3,311,173		496,842		—
Transamerica International Small Cap Value		7,795,191		182,088		(349,963	)		16,963			213,427			7,857,706		604,439		181,609		—
Transamerica International Stock		12,077,821		1,170,605		—			—			165,289			13,413,715		1,375,766		16,352		—
Transamerica Large Cap Value		22,382,231		748,117		(1,086,345	)		111,412			(677,774	)		21,477,641		1,997,920		140,525		606,101
Transamerica Managed Futures Strategy		16,061,485		606,407		(814,472	)		(316,670	)		(417,506	)		15,119,244		2,181,709		605,261		—
Transamerica Mid Cap Growth		458,884		7,897		—			—			22,326			489,107		44,303		—		7,896
Transamerica Mid Cap Value		5,310,874		480,266		(247,891	)		44,791			(416,198	)		5,171,842		426,720		62,008		417,917
Transamerica Mid Cap Value Opportunities		2,477,565		98,097		(116,654	)		16,812			(36,422	)		2,439,398		209,570		27,684		70,253
Transamerica MLP & Energy Income		14,696,294		203,851		(750,963	)		(79,507	)		132,682			14,202,357		2,171,614		202,822		—
Transamerica Short-Term Bond		57,274,341		8,742,213		(2,887,198	)		51,287			216,663			63,397,306		6,246,040		408,129		—
Transamerica Small Cap Core		2,357,703		21,710		(109,364	)		828			(37,329	)		2,233,548		233,879		21,560		—
Transamerica Small Cap Growth		1,551,707		101,577		(72,910	)		2,668			(1,004	)		1,582,038		231,970		—		101,477
Transamerica Small Cap Value		2,364,132		98,543		(109,364	)		9,822			(146,750	)		2,216,383		236,793		49,255		49,138
Transamerica Small Company Growth Liquidating Trust		951		—		—			—			1			952		1,529		—		—
Transamerica Total Return		160,804,328		3,554,802		(8,022,383	)		137,368			(897,333	)		155,576,782		14,746,614		3,543,805		—
Transamerica US Growth		34,202,937		2,709,981		(1,629,517	)		182,079			713,456			36,178,936		1,558,765		115,970		2,591,774
Total	$	754,406,648	$	46,852,052	$	(61,562,841	)	$	(1,603,588	)	$	(997,199	)	$	737,095,072		70,294,656	$	10,239,009	$	11,466,066

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Asset Allocation – Conservative Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(C) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Investment Companies	Transamerica Global Allocation Liquidating Trust		07/31/2014	$	13,784	$	4,963		0.0	%(F)
Investment Companies	Transamerica Small Company Growth Liquidating Trust		10/26/2012		15,291		952		0.0	(F)
Total				$	29,075	$	5,915		0.0	%(F)

(D)	Certain investments are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value levels. The fair value amount presented is intended to permit reconciliation to the Total Investments amount presented within the Schedule of Investments.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(F)	Percentage rounds to less than 0.1% or (0.1)%.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Asset Allocation – Growth Portfolio

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Alternative Funds - 1.4%
Transamerica Global Allocation Liquidating Trust (A) (B) (C)  (D)		874		$  3,238
Transamerica Global Multifactor Macro (B)		1,716,535		15,637,631
				15,640,869
International Equity Funds - 38.9%
Transamerica Emerging Markets Equity (B)		6,183,375		60,164,238
Transamerica Emerging Markets Opportunities (A) (B)		6,679,712		62,588,905
Transamerica Global Real Estate Securities (B)		262,307		3,795,588
Transamerica International Equity (B)		8,507,274		150,408,601
Transamerica International Growth (B)		14,157,129		108,443,611
Transamerica International Small Cap Value (B)		3,110,011		40,430,144
Transamerica International Stock (B)		1,097,304		10,698,712
				436,529,799
U.S. Alternative Funds - 3.9%
Transamerica Event Driven (B)		1,960,825		21,333,776
Transamerica Managed Futures Strategy (B)		3,223,127		22,336,273
				43,670,049
U.S. Equity Funds - 51.0%
Transamerica Capital Growth (B)		8,345,743		103,987,958
Transamerica Dividend Focused (B)		14,656,254		124,578,155

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds (continued)
Transamerica Large Cap Value (B)		8,622,510		$   92,691,980
Transamerica Mid Cap Growth (B)		61,064		674,143
Transamerica Mid Cap Value (B)		3,496,293		42,375,072
Transamerica Mid Cap Value Opportunities (B)		1,526,351		17,766,724
Transamerica Small Cap Core (B)		201,162		1,921,096
Transamerica Small Cap Growth (B)		1,827,616		12,464,344
Transamerica Small Cap Value (B)		2,201,791		20,608,768
Transamerica Small Company Growth Liquidating Trust (A) (B) (C)  (D)		5,111		3,181
Transamerica US Growth (B)		6,699,617		155,498,110
				572,569,531
U.S. Mixed Allocation Fund - 4.9%
Transamerica MLP & Energy Income (B)		8,493,143		55,545,155
Total Investment Companies (Cost $1,056,118,513)				1,123,955,403
Total Investments (Cost $1,056,118,513)				1,123,955,403
Net Other Assets (Liabilities) - (0.1)%				(1,036,180	)
Net Assets - 100.0%				$  1,122,919,223

SECURITY VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	1,123,948,984	$	—	$	—	$	1,123,948,984
Total	$	1,123,948,984	$	—	$	—	$	1,123,948,984
Investment Companies Measured at Net Asset Value (D)								6,419
Total Investments							$	1,123,955,403

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation – Growth Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Affiliated investment in the Class I2 shares of Transamerica Funds, and liquidating trusts of former Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Capital Growth	$	95,871,975	$	19,068,806	$	(5,448,458	)	$	(974,271	)	$	(4,530,094	)	$	103,987,958		8,345,743	$	—	$	19,068,806
Transamerica Dividend Focused		130,221,023		15,450,855		(6,635,917	)		(312,768	)		(14,145,038	)		124,578,155		14,656,254		1,869,494		13,581,362
Transamerica Emerging Markets Equity		136,359,256		3,606,128		(80,884,875	)		(4,059,770	)		5,143,499			60,164,238		6,183,375		3,606,129		—
Transamerica Emerging Markets Opportunities		—		66,509,783		—			—			(3,920,878	)		62,588,905		6,679,712		—		—
Transamerica Event Driven		21,758,434		90,128		(1,390,609	)		85,690			790,133			21,333,776		1,960,825		90,128		—
Transamerica Global Allocation Liquidating Trust		3,306		—		—			—			(68	)		3,238		874		—		—
Transamerica Global Multifactor Macro		16,457,255		366,368		(1,020,862	)		(64,843	)		(100,287	)		15,637,631		1,716,535		366,368		—
Transamerica Global Real Estate Securities		3,933,552		271,785		(198,964	)		54,110			(264,895	)		3,795,588		262,307		143,912		127,872
Transamerica International Equity		155,803,003		4,426,587		(7,937,603	)		(600,562	)		(1,282,824	)		150,408,601		8,507,274		4,426,586		—
Transamerica International Growth		109,937,917		2,135,239		(5,550,951	)		(924,716	)		2,846,122			108,443,611		14,157,129		2,135,239		—
Transamerica International Small Cap Value		40,311,478		935,614		(2,007,090	)		88,376			1,101,766			40,430,144		3,110,011		935,614		—
Transamerica International Stock		3,445,875		7,191,751		—			—			61,086			10,698,712		1,097,304		13,042		—
Transamerica Large Cap Value		97,149,539		3,227,216		(5,237,606	)		174,599			(2,621,768	)		92,691,980		8,622,510		607,405		2,619,810
Transamerica Managed Futures Strategy		24,078,521		899,287		(1,548,893	)		(565,074	)		(527,568	)		22,336,273		3,223,127		899,287		—
Transamerica Mid Cap Growth		632,486		10,884		—			—			30,773			674,143		61,064		—		10,884
Transamerica Mid Cap Value		43,749,074		3,937,731		(2,266,254	)		409,414			(3,454,893	)		42,375,072		3,496,293		508,770		3,428,962
Transamerica Mid Cap Value Opportunities		18,141,343		714,271		(946,203	)		137,357			(280,044	)		17,766,724		1,526,351		201,905		512,366
Transamerica MLP & Energy Income		57,733,616		793,872		(3,182,356	)		(336,080	)		536,103			55,545,155		8,493,143		793,872		—
Transamerica Small Cap Core		2,042,175		18,587		(108,512	)		541			(31,695	)		1,921,096		201,162		18,587		—
Transamerica Small Cap Growth		12,306,612		801,119		(656,939	)		(121,541	)		135,093			12,464,344		1,827,616		—		801,119
Transamerica Small Cap Value		22,099,825		916,182		(1,133,127	)		30,339			(1,304,451	)		20,608,768		2,201,791		458,633		457,549
Transamerica Small Company Growth Liquidating Trust		3,180		—		—			—			1			3,181		5,111		—		—
Transamerica US Growth		147,721,996		11,650,911		(7,732,770	)		468,962			3,389,011			155,498,110		6,699,617		498,998		11,151,914
Total	$	1,139,761,441	$	143,023,104	$	(133,887,989	)	$	(6,510,237	)	$	(18,430,916	)	$	1,123,955,403		103,035,128	$	17,573,969	$	51,760,644

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Asset Allocation – Growth Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(C) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Investment Companies	Transamerica Global Allocation Liquidating Trust		07/31/2014	$	8,994	$	3,238		0.0	%(F)
Investment Companies	Transamerica Small Company Growth Liquidating Trust		10/26/2012		51,111		3,181		0.0	(F)
Total				$	60,105	$	6,419		0.0	%(F)

(D)	Certain investments are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value levels. The fair value amount presented is intended to permit reconciliation to the Total Investments amount presented within the Schedule of Investments.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(F)	Percentage rounds to less than 0.1% or (0.1)%.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Asset Allocation – Moderate Growth Portfolio

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Alternative Funds - 1.0%
Transamerica Global Allocation Liquidating Trust (A) (B) (C) (D)		5,843		$  21,645
Transamerica Global Multifactor Macro (B)		2,021,782		18,418,435
				18,440,080
International Equity Funds - 29.4%
Transamerica Emerging Markets Equity (B)		7,446,401		72,453,481
Transamerica Emerging Markets Opportunities (A) (B)		8,008,072		75,035,634
Transamerica Global Real Estate Securities (B)		654,198		9,466,248
Transamerica International Equity (B)		10,895,520		192,632,786
Transamerica International Growth (B)		17,221,779		131,918,829
Transamerica International Small Cap Value (B)		3,827,894		49,762,624
Transamerica International Stock (B)		3,482,583		33,955,181
				565,224,783
International Fixed Income Funds - 3.7%
Transamerica Emerging Markets Debt (B)		4,638,928		50,100,417
Transamerica Inflation Opportunities (B)		2,043,252		21,556,305
				71,656,722
U.S. Alternative Funds - 3.6%
Transamerica Event Driven (B)		2,618,496		28,489,239
Transamerica Managed Futures Strategy (B)		5,724,467		39,670,554
				68,159,793
U.S. Equity Funds - 36.2%
Transamerica Capital Growth (B)		10,247,716		127,686,541
Transamerica Dividend Focused (B)		17,968,634		152,733,387
Transamerica Large Cap Value (B)		10,561,996		113,541,458

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds (continued)
Transamerica Mid Cap Growth (B)		106,703		$   1,178,002
Transamerica Mid Cap Value (B)		4,616,645		55,953,734
Transamerica Mid Cap Value Opportunities (B)		2,138,788		24,895,487
Transamerica Small Cap Core (B)		746,309		7,127,253
Transamerica Small Cap Growth (B)		1,248,283		8,513,292
Transamerica Small Cap Value (B)		1,492,986		13,974,353
Transamerica Small Company Growth Liquidating Trust (A) (B) (C) (D)		4,660		2,900
Transamerica US Growth (B)		8,212,551		190,613,307
				696,219,714
U.S. Fixed Income Funds - 22.3%
Transamerica Bond (B)		2,579,018		24,655,414
Transamerica Core Bond (B)		10,411,391		108,070,244
Transamerica Intermediate Bond (B)		7,381,406		78,464,347
Transamerica Short-Term Bond (B)		5,744,964		58,311,388
Transamerica Total Return (B)		15,083,896		159,135,104
				428,636,497
U.S. Mixed Allocation Fund - 3.9%
Transamerica MLP & Energy Income (B)		11,424,905		74,718,881
Total Investment Companies (Cost $1,816,738,856)				1,923,056,470
Total Investments (Cost $1,816,738,856)				1,923,056,470
Net Other Assets (Liabilities) - (0.1)%				(1,763,129	)
Net Assets - 100.0%				$  1,921,293,341

SECURITY VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	1,923,031,925	$	—	$	—	$	1,923,031,925
Total	$	1,923,031,925	$	—	$	—	$	1,923,031,925
Investment Companies Measured at Net Asset Value (D)								24,545
Total Investments							$	1,923,056,470

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation – Moderate Growth Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Affiliated investment in the Class I2 shares of Transamerica Funds, and liquidating trusts of former Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Bond	$	25,655,159	$	198,494	$	(1,479,952	)	$	1,390		$	280,323		$	24,655,414		2,579,018	$	202,546	$	—
Transamerica Capital Growth		117,764,031		23,442,223		(6,732,739	)		(1,227,300	)		(5,559,674	)		127,686,541		10,247,716		—		23,442,222
Transamerica Core Bond		113,386,370		802,056		(7,342,564	)		(158,936	)		1,383,318			108,070,244		10,411,391		802,056		—
Transamerica Dividend Focused		159,685,468		18,961,711		(8,181,423	)		(346,826	)		(17,385,543	)		152,733,387		17,968,634		2,294,294		16,667,417
Transamerica Emerging Markets Debt		51,033,679		868,186		(3,032,859	)		13,902			1,217,509			50,100,417		4,638,928		868,186		—
Transamerica Emerging Markets Equity		160,730,091		4,335,522		(93,888,434	)		(4,498,248	)		5,774,550			72,453,481		7,446,401		4,335,522		—
Transamerica Emerging Markets Opportunities		—		79,736,392		—			—			(4,700,758	)		75,035,634		8,008,072		—		—
Transamerica Event Driven		28,769,345		119,874		(1,563,329	)		49,702			1,113,647			28,489,239		2,618,496		119,875		—
Transamerica Floating Rate		14,111,112		55,664		(14,153,325	)		(498,756	)		485,305			—		—		75,266		—
Transamerica Global Allocation Liquidating Trust		22,100		—		—			—			(455	)		21,645		5,843		—		—
Transamerica Global Multifactor Macro		19,192,399		429,850		(1,008,232	)		(60,635	)		(134,947	)		18,418,435		2,021,782		429,850		—
Transamerica Global Real Estate Securities		9,804,741		678,235		(489,843	)		97,804			(624,689	)		9,466,248		654,198		359,132		319,104
Transamerica Inflation Opportunities		22,342,031		94,511		(1,292,352	)		28,991			383,124			21,556,305		2,043,252		94,511		—
Transamerica Intermediate Bond		81,728,503		506,364		(4,716,171	)		92,620			853,031			78,464,347		7,381,406		506,364		—
Transamerica International Equity		199,627,462		5,675,647		(10,276,284	)		(585,995	)		(1,808,044	)		192,632,786		10,895,520		5,675,647		—
Transamerica International Growth		133,235,709		2,594,748		(6,242,894	)		(1,040,077	)		3,371,343			131,918,829		17,221,779		2,594,747		—
Transamerica International Small Cap Value		49,619,775		1,152,628		(2,480,482	)		114,645			1,356,058			49,762,624		3,827,894		1,152,628		—
Transamerica International Stock		27,940,485		5,626,392		—			—			388,304			33,955,181		3,482,583		41,393		—
Transamerica Large Cap Value		119,014,906		3,957,072		(6,440,916	)		(606,313	)		(2,383,291	)		113,541,458		10,561,996		744,774		3,212,298
Transamerica Managed Futures Strategy		42,353,881		1,591,311		(2,342,356	)		(913,642	)		(1,018,640	)		39,670,554		5,724,467		1,591,310		—
Transamerica Mid Cap Growth		1,105,211		19,018		—			—			53,773			1,178,002		106,703		—		19,018
Transamerica Mid Cap Value		57,773,061		5,204,477		(3,001,592	)		545,607			(4,567,819	)		55,953,734		4,616,645		672,437		4,532,040
Transamerica Mid Cap Value Opportunities		25,426,981		1,001,922		(1,334,040	)		185,681			(385,057	)		24,895,487		2,138,788		283,216		718,706
Transamerica MLP & Energy Income		77,702,101		1,069,219		(4,325,211	)		(418,696	)		691,468			74,718,881		11,424,905		1,069,219		—
Transamerica Short-Term Bond		46,206,103		14,520,951		(2,678,504	)		(2,951	)		265,789			58,311,388		5,744,964		356,248		—
Transamerica Small Cap Core		7,569,037		68,983		(396,043	)		3,078			(117,802	)		7,127,253		746,309		68,983		—
Transamerica Small Cap Growth		8,405,079		547,670		(448,154	)		17,175			(8,478	)		8,513,292		1,248,283		—		547,670
Transamerica Small Cap Value		14,986,604		621,816		(771,242	)		21,932			(884,757	)		13,974,353		1,492,986		311,276		310,540
Transamerica Small Company Growth Liquidating Trust		2,899		—		—			—			1			2,900		4,660		—		—
Transamerica Total Return		165,820,908		3,639,874		(9,530,988	)		262,197			(1,056,887	)		159,135,104		15,083,896		3,639,874		—
Transamerica US Growth		181,132,502		14,297,316		(9,546,730	)		816,454			3,913,765			190,613,307		8,212,551		612,341		13,684,975
Total	$	1,962,147,733	$	191,818,126	$	(203,696,659	)	$	(8,107,197	)	$	(19,105,533	)	$	1,923,056,470		178,560,066	$	28,901,695	$	63,453,990

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Asset Allocation – Moderate Growth Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(C) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Investment Companies	Transamerica Global Allocation Liquidating Trust		07/31/2014	$	60,118	$	21,645		0.0	%(F)
Investment Companies	Transamerica Small Company Growth Liquidating Trust		10/26/2012		46,600		2,900		0.0	(F)
Total				$	106,718	$	24,545		0.0	%(F)

(D)	Certain investments are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value levels. The fair value amount presented is intended to permit reconciliation to the Total Investments amount presented within the Schedule of Investments.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(F)	Percentage rounds to less than 0.1% or (0.1)%.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Asset Allocation – Moderate Portfolio

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Alternative Funds - 1.0%
Transamerica Global Allocation Liquidating Trust (A) (B) (C) (D)		3,627		$  13,436
Transamerica Global Multifactor Macro (B)		1,425,226		12,983,808
				12,997,244
International Equity Funds - 21.2%
Transamerica Emerging Markets Equity (B)		3,639,102		35,408,463
Transamerica Emerging Markets Opportunities (A) (B)		3,927,897		36,804,393
Transamerica International Equity (B)		5,464,078		96,604,899
Transamerica International Growth (B)		8,610,728		65,958,175
Transamerica International Small Cap Value (B)		1,836,783		23,878,184
Transamerica International Stock (B)		2,744,364		26,757,544
				285,411,658
International Fixed Income Funds - 5.6%
Transamerica Emerging Markets Debt (B)		4,095,299		44,229,233
Transamerica Inflation Opportunities (B)		2,999,291		31,642,522
				75,871,755
U.S. Alternative Funds - 3.5%
Transamerica Event Driven (B)		1,838,529		20,003,193
Transamerica Managed Futures Strategy (B)		4,014,682		27,821,749
				47,824,942
U.S. Equity Funds - 25.0%
Transamerica Capital Growth (B)		4,992,068		62,201,162
Transamerica Dividend Focused (B)		8,735,631		74,252,860
Transamerica Large Cap Value (B)		5,127,078		55,116,093
Transamerica Mid Cap Growth (B)		76,070		839,816

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Equity Funds (continued)
Transamerica Mid Cap Value (B)		1,979,290		$   23,988,990
Transamerica Mid Cap Value Opportunities (B)		941,180		10,955,335
Transamerica Small Cap Core (B)		400,405		3,823,864
Transamerica Small Cap Growth (B)		697,182		4,754,779
Transamerica Small Cap Value (B)		824,703		7,719,216
Transamerica Small Company Growth Liquidating Trust (A) (B) (C) (D)		2,887		1,796
Transamerica US Growth (B)		3,988,263		92,567,574
				336,221,485
U.S. Fixed Income Funds - 40.9%
Transamerica Bond (B)		3,679,084		35,172,043
Transamerica Core Bond (B)		13,081,482		135,785,787
Transamerica Intermediate Bond (B)		9,149,404		97,258,163
Transamerica Short-Term Bond (B)		7,101,422		72,079,429
Transamerica Total Return (B)		19,995,321		210,950,636
				551,246,058
U.S. Mixed Allocation Fund - 2.9%
Transamerica MLP & Energy Income (B)		5,949,681		38,910,913
Total Investment Companies (Cost $1,272,322,928)				1,348,484,055
Total Investments (Cost $1,272,322,928)				1,348,484,055
Net Other Assets (Liabilities) - (0.1)%				(1,160,702	)
Net Assets - 100.0%				$  1,347,323,353

SECURITY VALUATION:

Valuation Inputs ^(E)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	1,348,468,823	$	—	$	—	$	1,348,468,823
Total	$	1,348,468,823	$	—	$	—	$	1,348,468,823
Investment Companies Measured at Net Asset Value (D)								15,232
Total Investments							$	1,348,484,055

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation – Moderate Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Affiliated investment in the Class I2 shares of Transamerica Funds, and liquidating trusts of former Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Bond	$	36,641,211	$	283,773	$	(2,155,682	)	$	33,070		$	369,671		$	35,172,043		3,679,084	$	289,555	$	—
Transamerica Capital Growth		57,503,657		11,455,637		(3,442,888	)		(665,025	)		(2,650,219	)		62,201,162		4,992,068		—		11,455,637
Transamerica Core Bond		142,349,861		1,009,129		(9,115,602	)		(239,682	)		1,782,081			135,785,787		13,081,482		1,009,129		—
Transamerica Dividend Focused		77,826,688		9,246,424		(4,179,541	)		(121,672	)		(8,519,039	)		74,252,860		8,735,631		1,118,782		8,127,642
Transamerica Emerging Markets Debt		45,108,273		768,442		(2,737,251	)		16,824			1,072,945			44,229,233		4,095,299		768,442		—
Transamerica Emerging Markets Equity		78,125,599		2,129,498		(45,474,445	)		(1,962,755	)		2,590,566			35,408,463		3,639,102		2,129,498		—
Transamerica Emerging Markets Opportunities		—		39,110,115		—			—			(2,305,722	)		36,804,393		3,927,897		—		—
Transamerica Event Driven		20,262,093		84,459		(1,163,138	)		42,856			776,923			20,003,193		1,838,529		84,459		—
Transamerica Floating Rate		12,432,150		49,042		(12,469,341	)		(431,112	)		419,261			—		—		66,310		—
Transamerica Global Allocation Liquidating Trust		13,718		—		—			—			(282	)		13,436		3,627		—		—
Transamerica Global Multifactor Macro		13,560,771		303,852		(742,815	)		(44,915	)		(93,085	)		12,983,808		1,425,226		303,852		—
Transamerica Inflation Opportunities		32,843,720		139,093		(1,946,318	)		44,220			561,807			31,642,522		2,999,291		139,093		—
Transamerica Intermediate Bond		101,429,655		628,933		(5,975,130	)		118,376			1,056,329			97,258,163		9,149,404		628,933		—
Transamerica International Equity		100,407,660		2,855,683		(5,466,748	)		(164,516	)		(1,027,180	)		96,604,899		5,464,078		2,855,683		—
Transamerica International Growth		66,652,708		1,299,680		(3,163,735	)		(518,921	)		1,688,443			65,958,175		8,610,728		1,299,679		—
Transamerica International Small Cap Value		23,869,640		554,723		(1,256,190	)		60,532			649,479			23,878,184		1,836,783		554,723		—
Transamerica International Stock		24,431,418		1,992,534		—			—			333,592			26,757,544		2,744,364		32,619		—
Transamerica Large Cap Value		57,929,411		1,927,078		(3,287,803	)		318,075			(1,770,668	)		55,116,093		5,127,078		362,703		1,564,376
Transamerica Managed Futures Strategy		29,785,805		1,119,507		(1,725,733	)		(696,677	)		(661,153	)		27,821,749		4,014,682		1,119,508		—
Transamerica Mid Cap Growth		787,922		13,558		—			—			38,336			839,816		76,070		—		13,559
Transamerica Mid Cap Value		24,827,894		2,237,977		(1,349,240	)		353,021			(2,080,662	)		23,988,990		1,979,290		289,154		1,948,822
Transamerica Mid Cap Value Opportunities		11,213,449		442,171		(612,586	)		85,457			(173,156	)		10,955,335		941,180		124,990		317,180
Transamerica MLP & Energy Income		40,594,622		558,814		(2,388,310	)		(252,597	)		398,384			38,910,913		5,949,681		558,813		—
Transamerica Short-Term Bond		62,532,839		12,933,631		(3,698,779	)		66,127			245,611			72,079,429		7,101,422		457,187		—
Transamerica Small Cap Core		4,072,544		37,131		(224,874	)		1,929			(62,866	)		3,823,864		400,405		37,131		—
Transamerica Small Cap Growth		4,706,569		306,840		(263,644	)		3,735			1,279			4,754,779		697,182		—		306,840
Transamerica Small Cap Value		8,301,637		344,585		(449,747	)		11,619			(488,878	)		7,719,216		824,703		172,496		172,089
Transamerica Small Company Growth Liquidating Trust		1,796		—		—			—			—			1,796		2,887		—		—
Transamerica Total Return		220,079,431		4,837,493		(12,907,180	)		270,081			(1,329,189	)		210,950,636		19,995,321		4,837,493		—
Transamerica US Growth		88,181,996		6,964,217		(4,885,180	)		547,421			1,759,120			92,567,574		3,988,263		298,271		6,665,946
Total	$	1,386,474,737	$	103,634,019	$	(131,081,900	)	$	(3,124,529	)	$	(7,418,272	)	$	1,348,484,055		127,320,757	$	19,538,503	$	30,572,091

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Asset Allocation – Moderate Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(C) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Investment Companies	Transamerica Global Allocation Liquidating Trust		07/31/2014	$	37,318	$	13,436		0.0	%(F)
Investment Companies	Transamerica Small Company Growth Liquidating Trust		10/26/2012		28,869		1,796		0.0	(F)
Total				$	66,187	$	15,232		0.0	%(F)

(D)	Certain investments are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value levels. The fair value amount presented is intended to permit reconciliation to the Total Investments amount presented within the Schedule of Investments.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(F)	Percentage rounds to less than 0.1% or (0.1)%.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Asset Allocation Intermediate Horizon

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Equity Fund - 11.2%
Transamerica International Equity (A)		2,145,508		$  38,211,502
Money Market Fund - 0.1%
Transamerica Government Money Market (A)		435,204		435,204
U.S. Equity Funds - 40.6%
Transamerica Large Growth (A)		4,020,695		48,811,234
Transamerica Large Value Opportunities (A)		5,046,559		48,093,712
Transamerica Mid Cap Growth (A)		1,001,027		11,041,322
Transamerica Mid Cap Value Opportunities (A)		910,635		10,645,324
Transamerica Small Cap Growth (A)		1,632,544		11,117,621
Transamerica Small Cap Value (A)		1,016,449		9,534,289
				139,243,502

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Fixed Income Funds - 48.2%
Transamerica High Quality Bond (A)		2,531,282		$   25,338,137
Transamerica High Yield Bond (A)		2,289,707		21,065,308
Transamerica Inflation-Protected Securities (A)		3,791,915		39,473,840
Transamerica Intermediate Bond (A)		7,430,796		79,137,981
				165,015,266
Total Investment Companies (Cost $327,259,671)				342,905,474
Total Investments (Cost $327,259,671)				342,905,474
Net Other Assets (Liabilities) - (0.1)%				(174,667	)
Net Assets - 100.0%				$  342,730,807

SECURITY VALUATION:

Valuation Inputs ^(B)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	342,905,474	$	—	$	—	$	342,905,474
Total Investments	$	342,905,474	$	—	$	—	$	342,905,474

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A) Affiliated investment in the Class I3 shares of Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Government Money Market	$	672,895	$	18,682,365	$	(18,920,056	)	$	—		$	—		$	435,204		435,204	$	2,200	$	—
Transamerica High Quality Bond		25,555,411		560,520		(804,975	)		(21,270	)		48,451			25,338,137		2,531,282		222,003		—
Transamerica High Yield Bond		20,964,066		543,782		(671,934	)		(1,482	)		230,876			21,065,308		2,289,707		289,894		—
Transamerica Inflation-Protected Securities		39,246,297		706,259		(1,241,127	)		6,866			755,545			39,473,840		3,791,915		206,946		—
Transamerica Intermediate Bond		79,074,735		1,511,882		(2,488,905	)		21,826			1,018,443			79,137,981		7,430,796		496,331		—
Transamerica International Equity		38,359,967		1,602,040		(1,249,919	)		(13,334	)		(487,252	)		38,211,502		2,145,508		1,094,264		—
Transamerica Large Growth		47,566,062		9,392,901		(5,223,123	)		1,008,138			(3,932,744	)		48,811,234		4,020,695		322,558		8,520,254
Transamerica Large Value Opportunities		47,607,896		1,131,697		(1,672,306	)		129,566			896,859			48,093,712		5,046,559		346,147		235,460
Transamerica Mid Cap Growth		11,454,674		321,474		(1,283,400	)		(102,009	)		650,583			11,041,322		1,001,027		—		194,530
Transamerica Mid Cap Value Opportunities		10,538,256		544,692		(340,962	)		9,420			(106,082	)		10,645,324		910,635		118,086		299,662
Transamerica Small Cap Growth		10,671,035		830,189		(376,902	)		11,838			(18,539	)		11,117,621		1,632,544		—		703,246
Transamerica Small Cap Value		9,897,960		542,715		(318,254	)		(33,381	)		(554,751	)		9,534,289		1,016,449		208,915		206,856
Total	$	341,609,254	$	36,370,516	$	(34,591,863	)	$	1,016,178		$	(1,498,611	)	$	342,905,474		32,252,321	$	3,307,344	$	10,160,008

(B) There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation Long Horizon

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Equity Fund - 21.7%
Transamerica International Equity (A)		2,303,712		$  41,029,104
Money Market Fund - 0.2%
Transamerica Government Money Market (A)		358,553		358,553
U.S. Equity Funds - 68.8%
Transamerica Large Growth (A)		3,737,197		45,369,577
Transamerica Large Value Opportunities (A)		4,152,609		39,574,360
Transamerica Mid Cap Growth (A)		1,120,985		12,364,464
Transamerica Mid Cap Value Opportunities (A)		940,003		10,988,640
Transamerica Small Cap Growth (A)		1,824,626		12,425,701
Transamerica Small Cap Value (A)		1,046,198		9,813,335
				130,536,077

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Fixed Income Funds - 9.4%
Transamerica High Quality Bond (A)		93,299		$   933,922
Transamerica High Yield Bond (A)		382,254		3,516,740
Transamerica Inflation-Protected Securities (A)		588,983		6,131,312
Transamerica Intermediate Bond (A)		685,398		7,299,494
				17,881,468
Total Investment Companies (Cost $181,209,347)				189,805,202
Total Investments (Cost $181,209,347)				189,805,202
Net Other Assets (Liabilities) - (0.1)%				(96,727	)
Net Assets - 100.0%				$  189,708,475

SECURITY VALUATION:

Valuation Inputs ^(B)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	189,805,202	$	—	$	—	$	189,805,202
Total Investments	$	189,805,202	$	—	$	—	$	189,805,202

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A) Affiliated investment in the Class I3 shares of Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Government Money Market	$	421,339	$	8,047,028	$	(8,109,814	)	$	—		$	—		$	358,553		358,553	$	1,337	$	—
Transamerica High Quality Bond		901,539		60,856		(29,566	)		(143	)		1,236			933,922		93,299		7,815		—
Transamerica High Yield Bond		3,535,473		59,295		(116,918	)		(3,154	)		42,044			3,516,740		382,254		48,646		—
Transamerica Inflation-Protected Securities		5,841,306		366,594		(193,316	)		4,488			112,240			6,131,312		588,983		30,821		—
Transamerica Intermediate Bond		7,376,494		67,356		(239,647	)		8,504			86,787			7,299,494		685,398		46,054		—
Transamerica International Equity		41,640,394		1,313,200		(1,399,834	)		62,725			(587,381	)		41,029,104		2,303,712		1,185,391		—
Transamerica Large Growth		41,684,985		7,858,577		(1,593,420	)		375,070			(2,955,635	)		45,369,577		3,737,197		282,577		7,464,165
Transamerica Large Value Opportunities		39,463,286		592,890		(1,340,851	)		130,482			728,553			39,574,360		4,152,609		286,304		194,753
Transamerica Mid Cap Growth		12,009,258		235,449		(461,215	)		(35,490	)		616,462			12,364,464		1,120,985		—		203,496
Transamerica Mid Cap Value Opportunities		10,987,466		466,590		(366,687	)		(9,091	)		(89,638	)		10,988,640		940,003		122,860		311,778
Transamerica Small Cap Growth		12,019,612		822,254		(407,271	)		42,735			(51,629	)		12,425,701		1,824,626		—		790,301
Transamerica Small Cap Value		10,297,481		463,627		(343,743	)		(12,396	)		(591,634	)		9,813,335		1,046,198		216,906		214,770
Total	$	186,178,633	$	20,353,716	$	(14,602,282	)	$	563,730		$	(2,688,595	)	$	189,805,202		17,233,817	$	2,228,711	$	9,179,263

(B) There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Asset Allocation Short Horizon

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 100.1%
International Equity Fund - 2.0%
Transamerica International Equity (A)		147,994		$  2,635,773
Money Market Fund - 0.2%
Transamerica Government Money Market (A)		214,691		214,691
U.S. Equity Funds - 8.4%
Transamerica Large Growth (A)		365,060		4,431,834
Transamerica Large Value Opportunities (A)		444,345		4,234,608
Transamerica Small Cap Core (A)		259,709		2,506,190
				11,172,632
U.S. Fixed Income Funds - 89.5%
Transamerica High Quality Bond (A)		2,294,647		22,969,421
Transamerica High Yield Bond (A)		1,426,456		13,123,395

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Fixed Income Funds (continued)
Transamerica Inflation-Protected Securities (A)		2,100,006		$   21,861,062
Transamerica Intermediate Bond (A)		5,782,747		61,586,258
				119,540,136
Total Investment Companies (Cost $128,847,379)				133,563,232
Total Investments (Cost $128,847,379)				133,563,232
Net Other Assets (Liabilities) - (0.1)%				(67,024	)
Net Assets - 100.0%				$  133,496,208

SECURITY VALUATION:

Valuation Inputs ^(B)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	133,563,232	$	—	$	—	$	133,563,232
Total Investments	$	133,563,232	$	—	$	—	$	133,563,232

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A) Affiliated investment in the Class I3 shares of Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Government Money Market	$	151,422	$	5,526,454	$	(5,463,185	)	$	—		$	—		$	214,691		214,691	$	881	$	—
Transamerica High Quality Bond		23,223,808		366,814		(645,222	)		(13,966	)		37,987			22,969,421		2,294,647		201,318		—
Transamerica High Yield Bond		13,070,738		277,561		(367,479	)		9,063			133,512			13,123,395		1,426,456		180,229		—
Transamerica Inflation-Protected Securities		21,768,493		278,106		(606,033	)		13,072			407,424			21,861,062		2,100,006		114,557		—
Transamerica Intermediate Bond		61,655,367		833,692		(1,707,709	)		24,444			780,464			61,586,258		5,782,747		385,880		—
Transamerica International Equity		2,650,989		94,937		(75,641	)		7,288			(41,800	)		2,635,773		147,994		75,467		—
Transamerica Large Growth		4,301,252		828,553		(423,072	)		67,895			(342,794	)		4,431,834		365,060		29,157		770,190
Transamerica Large Value Opportunities		4,477,681		80,305		(424,796	)		30,291			71,127			4,234,608		444,345		30,413		20,687
Transamerica Small Cap Core		2,581,653		42,960		(74,498	)		4,523			(48,448	)		2,506,190		259,709		23,490		—
Total	$	133,881,403	$	8,329,382	$	(9,787,635	)	$	142,610		$	997,472		$	133,563,232		13,035,655	$	1,041,392	$	790,877

(B) There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Balanced II

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 58.9%
Aerospace & Defense - 1.0%
General Dynamics Corp.		2,122		$  372,283
Northrop Grumman Corp.		740		277,182
United Technologies Corp.		3,624		544,325
				1,193,790
Airlines - 0.2%
Delta Air Lines, Inc.		2,636		146,930
Southwest Airlines Co.		1,912		105,122
United Airlines Holdings, Inc. (A)		650		48,620
				300,672
Auto Components - 0.1%
Magna International, Inc.		2,499		126,674
Automobiles - 0.2%
General Motors Co.		6,009		200,641
Banks - 2.3%
Bank of America Corp.		21,637		710,343
Citigroup, Inc.		13,185		981,096
Citizens Financial Group, Inc.		2,167		80,786
Fifth Third Bancorp		2,942		83,700
KeyCorp		19,047		356,369
Regions Financial Corp.		9,606		149,565
Truist Financial Corp.		1,298		66,938
Wells Fargo & Co.		10,121		475,080
				2,903,877
Beverages - 1.0%
Coca-Cola Co.		12,932		755,229
Constellation Brands, Inc., Class A		1,940		365,302
PepsiCo, Inc.		608		86,348
				1,206,879
Biotechnology - 1.4%
AbbVie, Inc.		8,085		655,047
Alexion Pharmaceuticals, Inc. (A)		1,963		195,103
Amgen, Inc.		290		62,654
Biogen, Inc. (A)		1,029		276,647
Regeneron Pharmaceuticals, Inc. (A)		525		177,418
Vertex Pharmaceuticals, Inc. (A)		1,419		322,184
				1,689,053
Building Products - 0.2%
Masco Corp.		4,431		210,561
Capital Markets - 1.9%
Ameriprise Financial, Inc.		902		149,200
BlackRock, Inc.		340		179,299
Charles Schwab Corp.		6,162		280,679
Goldman Sachs Group, Inc.		400		95,100
MarketAxess Holdings, Inc.		160		56,669
Morgan Stanley		12,156		635,273
S&P Global, Inc.		1,935		568,367
State Street Corp.		5,094		385,259
				2,349,846
Chemicals - 0.9%
Celanese Corp.		1,901		196,754

	Shares		Value
COMMON STOCKS (continued)
Chemicals (continued)
Dow, Inc. (A)		3,668		$   168,985
DuPont de Nemours, Inc.		2,915		149,190
Eastman Chemical Co.		3,946		281,231
Linde PLC		1,050		213,286
LyondellBasell Industries NV, Class A		1,392		108,381
				1,117,827
Commercial Services & Supplies - 0.1%
Cintas Corp.		160		44,635
Waste Management, Inc.		1,013		123,282
				167,917
Communications Equipment - 0.2%
Cisco Systems, Inc.		3,247		149,265
Motorola Solutions, Inc.		270		47,790
				197,055
Consumer Finance - 0.9%
American Express Co.		4,476		581,298
Capital One Financial Corp.		4,676		466,665
Synchrony Financial		1,219		39,508
				1,087,471
Containers & Packaging - 0.4%
Avery Dennison Corp.		1,230		161,425
Crown Holdings, Inc. (A)		2,468		182,706
Packaging Corp. of America		541		51,801
WestRock Co.		2,415		94,185
				490,117
Diversified Consumer Services - 0.0% (B)
H&R Block, Inc.		1,090		25,288
Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc., Class B (A)		5,805		1,302,816
Voya Financial, Inc.		726		43,364
				1,346,180
Diversified Telecommunication Services - 0.7%
AT&T, Inc.		636		23,926
Verizon Communications, Inc.		15,150		900,516
				924,442
Electric Utilities - 1.6%
Edison International		2,399		183,644
Entergy Corp.		4,075		535,944
FirstEnergy Corp.		1,527		77,556
NextEra Energy, Inc.		3,002		805,136
Southern Co.		4,255		299,552
Xcel Energy, Inc.		2,043		141,355
				2,043,187
Electrical Equipment - 0.9%
Eaton Corp. PLC		7,797		736,583
Emerson Electric Co.		4,762		341,102
				1,077,685
Entertainment - 0.7%
Electronic Arts, Inc. (A)		2,188		236,129
Netflix, Inc. (A)		1,541		531,784
Walt Disney Co.		286		39,556
				807,469

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Equity Real Estate Investment Trusts - 1.3%
AvalonBay Communities, Inc.		1,090		$   236,192
Equinix, Inc.		546		321,993
Equity Residential		3,682		305,900
Federal Realty Investment Trust		202		25,254
Mid-America Apartment Communities, Inc.		829		113,747
Prologis, Inc.		4,567		424,183
Ventas, Inc.		2,153		124,573
VICI Properties, Inc.		2,442		65,446
				1,617,288
Food & Staples Retailing - 0.3%
Costco Wholesale Corp.		630		192,478
Walmart, Inc.		1,723		197,266
				389,744
Food Products - 0.8%
Conagra Brands, Inc.		1,372		45,166
General Mills, Inc.		7,808		407,734
Mondelez International, Inc., Class A		10,026		575,292
				1,028,192
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.		4,410		393,460
Becton Dickinson and Co.		158		43,478
Boston Scientific Corp. (A)		4,580		191,765
Edwards Lifesciences Corp. (A)		562		123,561
Intuitive Surgical, Inc. (A)		216		120,913
Medtronic PLC		7,777		897,777
Zimmer Biomet Holdings, Inc.		3,738		552,850
				2,323,804
Health Care Providers & Services - 1.7%
Anthem, Inc.		1,604		425,509
Cigna Corp. (A)		1,644		316,273
DaVita, Inc. (A)		1,340		107,026
McKesson Corp.		1,728		246,430
UnitedHealth Group, Inc.		3,597		980,002
				2,075,240
Hotels, Restaurants & Leisure - 0.7%
Hilton Worldwide Holdings, Inc.		2,461		265,296
Royal Caribbean Cruises, Ltd.		570		66,735
Yum! Brands, Inc.		4,540		480,196
				812,227
Household Durables - 0.2%
Lennar Corp., Class A		4,120		273,403
Household Products - 0.6%
Kimberly-Clark Corp.		253		36,240
Procter & Gamble Co.		6,155		767,036
				803,276
Industrial Conglomerates - 0.5%
Honeywell International, Inc.		3,803		658,756
Insurance - 1.2%
Allstate Corp.		3,965		470,011
American International Group, Inc.		2,080		104,541
Arch Capital Group, Ltd. (A)		1,200		52,992
Arthur J. Gallagher & Co.		775		79,492

	Shares		Value
COMMON STOCKS (continued)
Insurance (continued)
Hartford Financial Services Group, Inc.		6,474		$   383,778
MetLife, Inc.		8,673		431,135
				1,521,949
Interactive Media & Services - 3.0%
Alphabet, Inc., Class A (A)		928		1,329,620
Alphabet, Inc., Class C (A)		835		1,197,582
Facebook, Inc., Class A (A)		6,030		1,217,517
				3,744,719
Internet & Direct Marketing Retail - 2.5%
Amazon.com, Inc. (A)		1,341		2,693,694
Booking Holdings, Inc. (A)		46		84,205
Expedia Group, Inc.		2,789		302,467
				3,080,366
IT Services - 3.8%
Accenture PLC, Class A		3,426		703,049
Automatic Data Processing, Inc.		3,945		676,134
Fiserv, Inc. (A)		2,227		264,144
Leidos Holdings, Inc.		2,323		233,392
Mastercard, Inc., Class A		4,773		1,507,982
PayPal Holdings, Inc. (A)		7,909		900,756
Visa, Inc., Class A		2,195		436,739
				4,722,196
Leisure Products - 0.1%
Hasbro, Inc.		839		85,469
Life Sciences Tools & Services - 0.7%
Illumina, Inc. (A)		407		118,058
Thermo Fisher Scientific, Inc.		2,308		722,843
				840,901
Machinery - 1.1%
Caterpillar, Inc.		720		94,572
Cummins, Inc.		1,958		313,221
Ingersoll-Rand PLC		2,135		284,446
Parker-Hannifin Corp.		1,792		350,677
Snap-on, Inc.		643		102,642
Stanley Black & Decker, Inc.		1,603		255,406
				1,400,964
Media - 1.8%
Altice USA, Inc., Class A (A)		4,258		116,499
Charter Communications, Inc., Class A (A)		1,498		775,155
Comcast Corp., Class A		21,985		949,532
Discovery, Inc., Class A (A) (C)		5,969		174,653
Discovery, Inc., Class C (A)		6,515		180,921
ViacomCBS, Inc., Class B		1,490		50,854
				2,247,614
Metals & Mining - 0.1%
Freeport-McMoRan, Inc.		3,524		39,116
Newmont Corp.		1,278		57,587
				96,703
Multi-Utilities - 0.5%
CMS Energy Corp.		5,693		390,027
Sempra Energy		1,053		169,154
				559,181

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Multiline Retail - 0.1%
Target Corp.		1,397		$   154,704
Oil, Gas & Consumable Fuels - 2.3%
Chevron Corp.		8,209		879,512
Diamondback Energy, Inc.		2,712		201,773
EOG Resources, Inc.		6,151		448,469
Exxon Mobil Corp.		2,170		134,800
Marathon Petroleum Corp.		6,827		372,072
ONEOK, Inc.		5,328		398,907
Phillips 66		350		31,980
Pioneer Natural Resources Co.		2,523		340,605
				2,808,118
Pharmaceuticals - 2.6%
Allergan PLC		791		147,632
Bristol-Myers Squibb Co.		11,619		731,416
Eli Lilly & Co.		3,922		547,668
Johnson & Johnson		4,799		714,427
Merck & Co., Inc.		9,949		850,043
Pfizer, Inc.		4,722		175,847
				3,167,033
Professional Services - 0.0% (B)
Verisk Analytics, Inc.		230		37,368
Road & Rail - 1.2%
CSX Corp.		2,880		219,859
Kansas City Southern		2,552		430,497
Lyft, Inc., Class A (A)		983		46,673
Norfolk Southern Corp.		3,053		635,665
Union Pacific Corp.		1,051		188,571
				1,521,265
Semiconductors & Semiconductor Equipment - 2.6%
Advanced Micro Devices, Inc. (A)		10,097		474,559
Analog Devices, Inc.		5,458		599,016
Intel Corp.		1,993		127,412
Micron Technology, Inc. (A)		670		36,009
NVIDIA Corp.		2,387		564,358
NXP Semiconductors NV		2,746		348,358
Teradyne, Inc.		3,809		251,356
Texas Instruments, Inc.		6,962		839,965
				3,241,033
Software - 4.6%
Intuit, Inc.		2,044		573,097
Microsoft Corp.		25,251		4,298,478
salesforce.com, Inc. (A)		4,178		761,691
				5,633,266
Specialty Retail - 2.2%
AutoZone, Inc. (A)		408		431,648
Best Buy Co., Inc.		4,567		386,779
Home Depot, Inc.		2,988		681,563
Lowe’s Cos., Inc.		4,718		548,420
O’Reilly Automotive, Inc. (A)		378		153,506
Ross Stores, Inc.		1,960		219,893
TJX Cos., Inc.		5,506		325,074
				2,746,883

	Shares		Value
COMMON STOCKS (continued)
Technology Hardware, Storage & Peripherals - 3.3%
Apple, Inc.		12,629		$   3,908,802
HP, Inc.		9,007		192,029
				4,100,831
Textiles, Apparel & Luxury Goods - 0.5%
NIKE, Inc., Class B		5,619		541,110
Ralph Lauren Corp.		720		81,720
				622,830
Tobacco - 0.8%
Altria Group, Inc.		5,210		247,631
Philip Morris International, Inc.		8,425		696,748
				944,379
Wireless Telecommunication Services - 0.1%
T-Mobile US, Inc. (A)		1,111		87,980
Total Common Stocks (Cost $58,618,141)				72,814,313
PREFERRED STOCK - 0.0% (B)
Electric Utilities - 0.0% (B)
SCE Trust III,
Series H, Fixed until 03/15/2024, 5.75% (D)		320		7,968
Total Preferred Stock (Cost $8,784)				7,968
	Principal		Value
ASSET-BACKED SECURITIES - 3.3%
BlueMountain CLO, Ltd.
Series 2015-2A, Class A1R,
3-Month LIBOR + 0.93%, 2.75% (D), 07/18/2027 (E)		$  250,000		250,199
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029 (E)		43,921		44,248
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (E)		42,699		42,720
CIFC Funding, Ltd.
Series 2013-2A, Class A1LR,
3-Month LIBOR + 1.21%, 3.04% (D), 10/18/2030 (E)		250,000		250,087
JGWPT XXVI LLC
Series 2012-2A, Class A,
3.84%, 10/15/2059 (E)		148,865		162,443
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067 (E)		151,705		158,825
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043 (E)		92,057		95,285
MVW Owner Trust
Series 2014-1A, Class A,
2.25%, 09/22/2031 (E)		27,247		27,251
Series 2016-1A, Class A,
2.25%, 12/20/2033 (E)		28,187		28,165

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
New Residential Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.52%, 08/15/2053 (E)		$   380,000		$   381,589
Series 2019-T3, Class AT3,
2.51%, 09/15/2052 (E)		100,000		100,743
Octagon Investment Partners 33, Ltd.
Series 2017-1A, Class A1,
3-Month LIBOR + 1.19%, 3.01% (D), 01/20/2031 (E)		200,000		199,912
Ocwen Master Advance Receivables Trust
Series 2019-T1, Class AT1,
2.51%, 08/15/2050 (E)		118,000		118,569
Series 2019-T2, Class AT2,
2.42%, 08/15/2051 (E)		118,000		119,257
Orange Lake Timeshare Trust
Series 2016-A, Class A,
2.61%, 03/08/2029 (E)		107,243		108,232
Series 2019-A, Class A,
3.06%, 04/09/2038 (E)		148,258		151,219
Palmer Square CLO, Ltd.
Series 2015-2A, Class A1AR,
3-Month LIBOR + 1.27%, 3.10% (D), 07/20/2030 (E)		250,000		250,291
Series 2015-2A, Class A1R2,
3-Month LIBOR + 1.10%, Zero Coupon (D), 07/20/2030 (E) (F)		250,000		250,000
Sierra Timeshare Receivables Funding LLC
Series 2016-2A, Class A,
2.33%, 07/20/2033 (E)		17,332		17,373
SolarCity LMC LLC
Series 2014-2, Class A,
4.02%, 07/20/2044 (E)		116,582		118,129
Towd Point Mortgage Trust
Series 2015-3, Class A1B,
3.00% (D), 03/25/2054 (E)		57,440		57,646
Series 2015-5, Class A1B,
2.75% (D), 05/25/2055 (E)		60,446		60,560
Series 2016-1, Class A1B,
2.75% (D), 02/25/2055 (E)		53,843		54,081
Series 2017-1, Class A1,
2.75% (D), 10/25/2056 (E)		106,412		107,684
Series 2017-3, Class A1,
2.75% (D), 07/25/2057 (E)		57,443		58,262
Series 2017-6, Class A1,
2.75% (D), 10/25/2057 (E)		200,865		203,860
Series 2018-1, Class A1,
3.00% (D), 01/25/2058 (E)		124,085		126,379
Series 2018-3, Class A1,
3.75% (D), 05/25/2058 (E)		192,887		201,440
Series 2018-4, Class A1,
3.00% (D), 06/25/2058 (E)		108,810		112,228
VB-S1 Issuer LLC
Series 2018-1A, Class C,
3.41%, 02/15/2048 (E)		145,000		147,204
VSE VOI Mortgage LLC
Series 2016-A, Class A,
2.54%, 07/20/2033 (E)		29,467		29,505
Welk Resorts LLC
Series 2017-AA, Class A,
2.82%, 06/15/2033 (E)		73,064		74,087
Total Asset-Backed Securities (Cost $4,057,121)				4,107,473

	Principal		Value
CORPORATE DEBT SECURITIES - 13.7%
Aerospace & Defense - 0.1%
Boeing Co.
3.50%, 03/01/2039		$   101,000		$   106,036
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		54,000		56,297
				162,333
Airlines - 0.5%
American Airlines Pass-Through Trust
3.15%, 08/15/2033		28,000		30,398
3.20%, 12/15/2029		53,990		57,501
Delta Air Lines Pass-Through Trust
6.82%, 02/10/2024		248,049		270,248
JetBlue Pass-Through Trust
2.75%, 11/15/2033		97,000		100,625
United Airlines Pass-Through Trust
3.75%, 03/03/2028		203,457		218,879
				677,651
Auto Components - 0.1%
BorgWarner, Inc.
3.38%, 03/15/2025		92,000		97,935
Automobiles - 0.1%
Ford Motor Co.
4.35%, 12/08/2026 (C)		69,000		71,822
General Motors Co.
4.88%, 10/02/2023 (C)		26,000		28,185
6.25%, 10/02/2043		17,000		20,090
				120,097
Banks - 2.1%
Bank of America Corp.
Fixed until 01/23/2025, 3.37% (D), 01/23/2026		263,000		279,415
Fixed until 12/20/2027, 3.42% (D), 12/20/2028		69,000		74,059
Barclays Bank PLC
10.18%, 06/12/2021 (E)		147,000		162,669
BNP Paribas SA
4.40%, 08/14/2028 (E)		251,000		284,794
CIT Group, Inc.
4.13%, 03/09/2021		10,000		10,160
Citigroup, Inc.
Fixed until 01/29/2030, 2.67% (D), 01/29/2031 (C)		58,000		58,712
Fixed until 04/24/2024, 3.35% (D), 04/24/2025		95,000		99,968
Fixed until 10/27/2027, 3.52% (D), 10/27/2028		90,000		96,805
Commerzbank AG
8.13%, 09/19/2023 (E)		255,000		299,734
Credit Agricole SA
3.25%, 01/14/2030 (E)		250,000		257,721
Discover Bank
3.45%, 07/27/2026		250,000		264,383
Intesa Sanpaolo SpA
5.02%, 06/26/2024 (E)		65,000		69,022
JPMorgan Chase & Co.
Fixed until 07/23/2023, 3.80% (D), 07/23/2024		140,000		148,770
4.13%, 12/15/2026		138,000		154,421
6.40%, 05/15/2038		72,000		106,688

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Wells Fargo & Co.
4.10%, 06/03/2026, MTN		$   186,000		$   204,587
Fixed until 06/15/2024 (G), 5.90% (D),		45,000		48,919
				2,620,827
Beverages - 0.4%
Anheuser-Busch InBev Worldwide, Inc.
4.15%, 01/23/2025 (C)		41,000		45,221
4.44%, 10/06/2048		108,000		127,894
4.75%, 01/23/2029 (C)		87,000		102,948
Constellation Brands, Inc.
3.15%, 08/01/2029		45,000		46,864
3.70%, 12/06/2026		18,000		19,580
Pernod Ricard SA
5.75%, 04/07/2021 (E)		128,000		133,967
				476,474
Biotechnology - 0.1%
AbbVie, Inc.
3.20%, 05/14/2026 (C)		52,000		54,485
4.05%, 11/21/2039 (C) (E)		45,000		48,964
Gilead Sciences, Inc.
4.15%, 03/01/2047 (C)		27,000		31,225
				134,674
Capital Markets - 0.8%
Goldman Sachs Group, Inc.
5.25%, 07/27/2021		101,000		106,126
6.75%, 10/01/2037		73,000		104,296
Lazard Group LLC
4.50%, 09/19/2028		104,000		118,908
Morgan Stanley
Fixed until 01/22/2030, 2.70% (D), 01/22/2031, MTN		90,000		91,463
3.70%, 10/23/2024, MTN		141,000		151,994
Fixed until 01/24/2028, 3.77% (D), 01/24/2029, MTN		22,000		24,188
5.00%, 11/24/2025		66,000		75,466
UBS AG
7.63%, 08/17/2022		250,000		282,255
				954,696
Commercial Services & Supplies - 0.2%
ERAC USA Finance LLC
3.85%, 11/15/2024 (E)		123,000		132,563
Waste Connections, Inc.
2.60%, 02/01/2030		63,000		63,772
				196,335
Communications Equipment - 0.1%
Nokia OYJ
3.38%, 06/12/2022		92,000		93,380
Construction & Engineering - 0.5%
SBA Tower Trust
2.84%, 01/15/2025 (E)		333,000		344,676
2.88%, 07/15/2046 (E)		58,000		58,370
3.17%, 04/09/2047 (E)		110,000		111,933
3.45%, 03/15/2048 (E)		78,000		81,688
				596,667
Construction Materials - 0.3%
LafargeHolcim Finance LLC
4.75%, 09/22/2046 (E)		200,000		230,184

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Construction Materials (continued)
Martin Marietta Materials, Inc.
3.50%, 12/15/2027		$   90,000		$   96,630
4.25%, 12/15/2047		27,000		29,917
				356,731
Consumer Finance - 0.3%
Ally Financial, Inc.
3.88%, 05/21/2024		57,000		60,111
4.13%, 03/30/2020		120,000		120,411
American Express Co.
4.05%, 12/03/2042		44,000		54,075
BMW US Capital LLC
2.80%, 04/11/2026 (E)		72,000		74,428
Capital One Financial Corp.
3.30%, 10/30/2024		80,000		84,391
Discover Financial Services
3.75%, 03/04/2025		1,000		1,067
				394,483
Diversified Consumer Services - 0.0% (B)
President & Fellows of Harvard College
3.62%, 10/01/2037		14,000		15,860
Diversified Financial Services - 0.1%
Aviation Capital Group LLC
7.13%, 10/15/2020 (E)		134,000		138,703
Kaupthing Bank
7.63%, 02/28/2020 (E) (H) (I) (J)		710,000		0
				138,703
Diversified Telecommunication Services - 0.5%
AT&T, Inc.
3.40%, 05/15/2025		114,000		120,960
GTP Acquisition Partners I LLC
2.35%, 06/15/2045 (E)		40,000		39,709
Hughes Satellite Systems Corp.
7.63%, 06/15/2021		74,000		79,128
Level 3 Financing, Inc.
3.40%, 03/01/2027 (E)		66,000		67,802
Sprint Capital Corp.
6.88%, 11/15/2028		24,000		24,420
Verizon Communications, Inc.
3.50%, 11/01/2024		118,000		126,448
5.50%, 03/16/2047		164,000		228,819
				687,286
Electric Utilities - 0.6%
Appalachian Power Co.
3.40%, 06/01/2025		96,000		102,656
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		38,000		49,763
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		197,000		210,470
Duke Energy Progress LLC
3.60%, 09/15/2047		70,000		77,381
Entergy Arkansas LLC
3.70%, 06/01/2024		53,000		56,878
Oncor Electric Delivery Co. LLC
4.10%, 06/01/2022		10,000		10,494
5.30%, 06/01/2042		22,000		30,167
PacifiCorp.
3.60%, 04/01/2024		67,000		71,644
5.75%, 04/01/2037		22,000		30,365

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electric Utilities (continued)
Public Service Electric & Gas Co.
3.00%, 05/15/2025, MTN		$   123,000		$   129,726
				769,544
Electronic Equipment, Instruments & Components - 0.3%
Amphenol Corp.
2.80%, 02/15/2030		69,000		69,989
Arrow Electronics, Inc.
3.88%, 01/12/2028		92,000		97,021
Jabil, Inc.
3.60%, 01/15/2030		44,000		45,195
Keysight Technologies, Inc.
4.60%, 04/06/2027		139,000		158,136
				370,341
Energy Equipment & Services - 0.1%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (E)		100,000		107,796
Schlumberger Investment SA
3.65%, 12/01/2023		29,000		30,935
				138,731
Equity Real Estate Investment Trusts - 0.8%
American Tower Trust #1
3.65%, 03/15/2048 (E)		120,000		129,109
CBL & Associates, LP
5.25%, 12/01/2023 (C)		68,000		40,800
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		32,000		32,462
EPR Properties
4.75%, 12/15/2026 (C)		104,000		115,720
Healthcare Trust of America Holdings, LP
3.10%, 02/15/2030		59,000		60,972
Healthpeak Properties, Inc.
3.50%, 07/15/2029		51,000		54,566
Highwoods Realty, LP
3.05%, 02/15/2030 (C)		75,000		76,661
Kilroy Realty, LP
4.25%, 08/15/2029		89,000		99,627
Life Storage, LP
4.00%, 06/15/2029		52,000		57,165
Service Properties Trust
5.00%, 08/15/2022		92,000		96,953
VEREIT Operating Partnership, LP
4.63%, 11/01/2025		88,000		98,164
WEA Finance LLC
4.13%, 09/20/2028 (E)		93,000		103,210
				965,409
Food & Staples Retailing - 0.2%
Sysco Corp.
3.30%, 07/15/2026		70,000		75,365
Walmart, Inc.
3.63%, 12/15/2047		118,000		134,839
				210,204
Health Care Equipment & Supplies - 0.3%
Abbott Laboratories
3.75%, 11/30/2026		22,000		24,423

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Equipment & Supplies (continued)
Alcon Finance Corp.
2.75%, 09/23/2026 (E)		$   200,000		$   207,184
Boston Scientific Corp.
4.70%, 03/01/2049		73,000		91,935
				323,542
Health Care Providers & Services - 0.3%
Cigna Corp.
3.25%, 04/15/2025 (E)		63,000		66,060
CVS Health Corp.
2.13%, 06/01/2021		21,000		21,099
4.10%, 03/25/2025		25,000		27,186
HCA, Inc.
4.13%, 06/15/2029		31,000		33,548
5.25%, 04/15/2025		18,000		20,447
Laboratory Corp. of America Holdings
2.30%, 12/01/2024		101,000		102,369
Quest Diagnostics, Inc.
4.20%, 06/30/2029		102,000		115,043
				385,752
Household Durables - 0.1%
D.R. Horton, Inc.
4.38%, 09/15/2022		82,000		86,406
Industrial Conglomerates - 0.1%
Carlisle Cos., Inc.
3.75%, 12/01/2027		80,000		86,288
General Electric Co.
6.88%, 01/10/2039, MTN		17,000		24,073
				110,361
Insurance - 0.5%
American International Group, Inc.
4.20%, 04/01/2028		62,000		69,801
4.25%, 03/15/2029		51,000		57,858
Athene Global Funding
3.00%, 07/01/2022 (E)		81,000		82,967
CNA Financial Corp.
3.90%, 05/01/2029		57,000		63,284
Markel Corp.
3.35%, 09/17/2029		170,000		179,795
Reinsurance Group of America, Inc.
3.90%, 05/15/2029		158,000		172,107
				625,812
Interactive Media & Services - 0.3%
Baidu, Inc.
4.38%, 05/14/2024		200,000		215,682
Tencent Holdings, Ltd.
3.28%, 04/11/2024 (E)		97,000		101,373
				317,055
Internet & Direct Marketing Retail - 0.1%
Booking Holdings, Inc.
3.60%, 06/01/2026 (C)		45,000		49,079
Expedia Group, Inc.
3.25%, 02/15/2030 (E)		40,000		39,319
3.80%, 02/15/2028		72,000		74,679
				163,077

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
IT Services - 0.1%
Fidelity National Information Services, Inc.
3.75%, 05/21/2029 (C)		$   38,000		$   42,470
Fiserv, Inc.
3.50%, 07/01/2029 (C)		69,000		74,352
				116,822
Life Sciences Tools & Services - 0.0% (B)
Thermo Fisher Scientific, Inc.
5.30%, 02/01/2044		40,000		53,382
Media - 0.3%
CCO Holdings LLC / CCO Holdings Capital Corp.
5.75%, 01/15/2024		6,000		6,128
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		49,000		52,436
Clear Channel Worldwide Holdings, Inc.
5.13%, 08/15/2027 (C) (E)		35,000		36,050
NBCUniversal Media LLC
4.38%, 04/01/2021		182,000		187,714
4.45%, 01/15/2043		42,000		50,280
				332,608
Metals & Mining - 0.2%
Anglo American Capital PLC
4.00%, 09/11/2027 (E)		200,000		213,880
Freeport-McMoRan, Inc.
3.88%, 03/15/2023 (C)		45,000		45,900
				259,780
Multi-Utilities - 0.3%
Black Hills Corp.
4.25%, 11/30/2023		79,000		84,731
CMS Energy Corp.
3.88%, 03/01/2024		19,000		20,286
4.88%, 03/01/2044		29,000		36,827
Dominion Energy, Inc.
2.58%, 07/01/2020		69,000		69,204
DTE Electric Co.
4.30%, 07/01/2044		90,000		110,242
Public Service Enterprise Group, Inc.
2.65%, 11/15/2022		8,000		8,163
				329,453
Oil, Gas & Consumable Fuels - 1.2%
BP Capital Markets PLC
3.12%, 05/04/2026 (C)		193,000		204,369
Energy Transfer Operating, LP
5.15%, 03/15/2045		148,000		153,641
5.95%, 10/01/2043		31,000		34,549
Enterprise Products Operating LLC
4.25%, 02/15/2048		115,000		125,350
Kinder Morgan Energy Partners, LP
4.15%, 02/01/2024		58,000		62,138
Nexen, Inc.
5.88%, 03/10/2035		10,000		13,290
Noble Energy, Inc.
3.25%, 10/15/2029		119,000		119,747
Occidental Petroleum Corp.
5.55%, 03/15/2026		68,000		78,593
Petroleos Mexicanos
6.84%, 01/23/2030 (E)		139,000		150,606
7.69%, 01/23/2050 (E)		17,000		18,676

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Plains All American Pipeline, LP / PAA Finance Corp.
3.55%, 12/15/2029		$   108,000		$   107,401
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028		46,000		49,237
Shell International Finance BV
2.50%, 09/12/2026 (C)		114,000		118,107
3.75%, 09/12/2046		34,000		38,299
TransCanada PipeLines, Ltd.
3.75%, 10/16/2023		32,000		33,851
4.63%, 03/01/2034		31,000		36,448
Western Midstream Operating, LP
4.05%, 02/01/2030 (C)		41,000		40,868
Williams Cos., Inc.
5.40%, 03/04/2044		31,000		34,968
7.88%, 09/01/2021		29,000		31,574
				1,451,712
Pharmaceuticals - 0.4%
AstraZeneca PLC
2.38%, 06/12/2022		72,000		73,174
4.00%, 01/17/2029		28,000		31,827
4.38%, 08/17/2048		38,000		47,302
Bayer US Finance II LLC
4.38%, 12/15/2028 (E)		200,000		225,082
Bristol-Myers Squibb Co.
3.20%, 06/15/2026 (C) (E)		42,000		44,676
Merck & Co., Inc.
3.40%, 03/07/2029 (C)		46,000		50,852
				472,913
Professional Services - 0.0% (B)
Equifax, Inc.
2.60%, 12/01/2024		57,000		58,550
Road & Rail - 0.2%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (E)		120,000		129,865
Burlington Northern Santa Fe LLC
3.00%, 03/15/2023		15,000		15,572
3.75%, 04/01/2024		10,000		10,770
CSX Corp.
3.80%, 11/01/2046		50,000		55,131
				211,338
Semiconductors & Semiconductor Equipment - 0.4%
Intel Corp.
2.88%, 05/11/2024		76,000		79,702
KLA Corp.
4.10%, 03/15/2029		68,000		76,340
Lam Research Corp.
3.75%, 03/15/2026 (C)		78,000		85,295
NXP BV / NXP Funding LLC / NXP USA, Inc.
4.30%, 06/18/2029 (E)		53,000		58,638
QUALCOMM, Inc.
3.25%, 05/20/2027		91,000		97,765
Sensata Technologies, Inc, Co.
4.38%, 02/15/2030 (E)		50,000		50,678
				448,418
Software - 0.1%
Adobe, Inc.
2.15%, 02/01/2027 (F)		67,000		67,913

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Software (continued)
Microsoft Corp.
3.30%, 02/06/2027 (C)		$   45,000		$   49,264
PTC, Inc.
4.00%, 02/15/2028 (F)		13,000		13,130
				130,307
Technology Hardware, Storage & Peripherals - 0.2%
Apple, Inc.
2.85%, 02/23/2023		92,000		95,307
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (E)		66,000		77,070
Western Digital Corp.
4.75%, 02/15/2026 (C)		120,000		128,100
				300,477
Tobacco - 0.1%
Altria Group, Inc.
4.80%, 02/14/2029		64,000		72,536
BAT Capital Corp.
3.22%, 08/15/2024		96,000		99,802
				172,338
Transportation Infrastructure - 0.0% (B)
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.45%, 07/01/2024 (E)		53,000		55,934
Wireless Telecommunication Services - 0.3%
America Movil SAB de CV
3.13%, 07/16/2022		200,000		206,232
Crown Castle Towers LLC
3.22%, 05/15/2042 (E)		42,000		42,717
3.72%, 07/15/2043 (E)		105,000		109,530
Sprint Corp.
7.88%, 09/15/2023 (C)		42,000		44,620
				403,099
Total Corporate Debt Securities (Cost $15,993,264)				16,987,497
FOREIGN GOVERNMENT OBLIGATIONS - 0.6%
Colombia - 0.2%
Colombia Government International Bond
4.50%, 01/28/2026		200,000		220,476
Indonesia - 0.2%
Indonesia Government International Bond
5.38%, 10/17/2023 (E)		200,000		222,666
Mexico - 0.1%
Mexico Government International Bond
3.75%, 01/11/2028		116,000		122,960
Peru - 0.1%
Peru Government International Bond
7.35%, 07/21/2025		100,000		127,850
Total Foreign Government Obligations (Cost $653,637)				693,952
MORTGAGE-BACKED SECURITIES - 4.3%
Alternative Loan Trust
Series 2007-22, Class 2A16,
6.50%, 09/25/2037		168,240		110,546

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (E)		$   140,000		$   140,048
Series 2012-TFT, Class C,
3.58% (D), 06/05/2030 (E)		315,000		313,611
BBCMS Trust
Series 2013-TYSN, Class B,
4.04%, 09/05/2032 (E)		245,000		246,573
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
3.75%, 03/10/2047		24,969		26,626
Series 2014-GC19, Class A4,
4.02%, 03/10/2047		65,000		70,000
Series 2015-GC27, Class B,
3.77%, 02/10/2048		157,700		165,677
Citigroup Mortgage Loan Trust, Inc.
Series 2015-A, Class A1,
3.50% (D), 06/25/2058 (E)		58,782		59,931
Series 2018-RP1, Class A1,
3.00% (D), 09/25/2064 (E)		78,708		80,205
COMM Mortgage Trust
Series 2013-CR11, Class AM,
4.72% (D), 08/10/2050		120,000		131,111
Series 2013-GAM, Class A2,
3.37%, 02/10/2028 (E)		100,000		100,555
Series 2015-3BP, Class A,
3.18%, 02/10/2035 (E)		310,000		328,681
Series 2016-GCT, Class C,
3.58% (D), 08/10/2029 (E)		100,000		101,191
Commercial Mortgage Pass-Through Certificates Trust
Series 2012-LTRT, Class A2,
3.40%, 10/05/2030 (E)		132,000		134,571
CSMC Trust
Series 2014-4R, Class 21A1,
1-Month LIBOR + 0.33%, 2.45% (D), 12/27/2035 (E)		103,978		103,597
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 (E)		150,000		156,809
GMACM Mortgage Loan Trust
Series 2005-AR1, Class 3A,
4.41% (D), 03/18/2035		59,407		59,755
GS Mortgage Securities Trust
Series 2013-G1, Class A2,
3.56% (D), 04/10/2031 (E)		285,000		292,692
Impac CMB Trust
Series 2004-6, Class 1A1,
1-Month LIBOR + 0.80%, 2.46% (D), 10/25/2034		36,668		36,817
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.67% (D), 08/25/2037		114,980		99,284
Merrill Lynch Mortgage Investors Trust
Series 2003-F, Class A1,
1-Month LIBOR + 0.64%, 2.30% (D), 10/25/2028		22,564		22,717
Morgan Stanley Capital Barclays Bank Trust
Series 2016-MART, Class A,
2.20%, 09/13/2031 (E)		360,000		360,452
Morgan Stanley Resecuritization Trust
Series 2014-R3, Class 2A,
3.00% (D), 07/26/2048 (E)		102,881		102,938

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Motel 6 Trust
Series 2017-MTL6, Class C,
1-Month LIBOR + 1.40%, 3.08% (D), 08/15/2034 (E)		$   333,016		$   333,013
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% (D), 12/25/2052 (E)		58,471		59,845
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (D), 01/25/2054 (E)		27,559		28,877
Series 2014-2A, Class A3,
3.75% (D), 05/25/2054 (E)		71,690		74,262
Series 2014-3A, Class AFX3,
3.75% (D), 11/25/2054 (E)		50,095		52,449
Series 2016-3A, Class A1B,
3.25% (D), 09/25/2056 (E)		48,257		49,759
Series 2017-1A, Class A1,
4.00% (D), 02/25/2057 (E)		101,923		107,412
Series 2017-3A, Class A1,
4.00% (D), 04/25/2057 (E)		171,729		180,609
Series 2017-4A, Class A1,
4.00% (D), 05/25/2057 (E)		67,674		71,625
Series 2019-4A, Class A1B,
3.50% (D), 12/25/2058 (E)		229,309		237,873
Series 2019-5A, Class A1B,
3.50% (D), 08/25/2059 (E)		212,536		218,856
One Market Plaza Trust
Series 2017-1MKT, Class A,
3.61%, 02/10/2032 (E)		195,000		202,545
Queens Center Mortgage Trust
Series 2013-QCA, Class D,
3.59% (D), 01/11/2037 (E)		130,000		133,249
Structured Asset Mortgage Investments II Trust
Series 2003-AR4, Class A1,
1-Month LIBOR + 0.70%, 2.36% (D), 01/19/2034		55,626		55,232
UBS-BAMLL Trust
Series 2012-WRM, Class A,
3.66%, 06/10/2030 (E)		225,000		231,611
Total Mortgage-Backed Securities (Cost $5,234,963)				5,281,604
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.4%
California - 0.3%
Los Angeles Community College District, General Obligation Unlimited,
6.60%, 08/01/2042		15,000		24,624
State of California, General Obligation Unlimited
7.30%, 10/01/2039		50,000		79,942
7.60%, 11/01/2040		55,000		95,700
7.95%, 03/01/2036		95,000		95,463
University of California, Revenue Bonds,
Series AD,
4.86%, 05/15/2112		10,000		13,760
				309,489
Georgia - 0.0% (B)
Municipal Electric Authority of Georgia, Revenue Bonds,
Series A,
6.64%, 04/01/2057		10,000		14,323

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New Jersey - 0.0% (B)
New Jersey Turnpike Authority, Revenue Bonds,
Series F,
7.41%, 01/01/2040		$   14,000		$   23,086
New York - 0.1%
Metropolitan Transportation Authority, Revenue Bonds,
Series E,
6.81%, 11/15/2040		15,000		22,196
New York City Water & Sewer System, Revenue Bonds,
Series CC,
5.88%, 06/15/2044		15,000		23,520
New York State Dormitory Authority, Revenue Bonds,
Series H,
5.39%, 03/15/2040		10,000		13,193
Port Authority of New York & New Jersey, Revenue Bonds,
Series 181,
4.96%, 08/01/2046		20,000		27,865
				86,774
Total Municipal Government Obligations (Cost $393,760)				433,672
U.S. GOVERNMENT AGENCY OBLIGATIONS - 8.1%
Federal Home Loan Mortgage Corp.
12-Month LIBOR + 1.90%, 5.03% (D), 02/01/2041		4,412		4,577
5.50%, 06/01/2041		17,822		20,014
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
2.89%, 06/25/2027		377,104		393,907
3.01%, 07/25/2025		388,000		412,898
3.06% (D), 07/25/2023 - 08/25/2024		455,000		480,069
Federal National Mortgage Association
3.33% (D), 10/25/2023		46,546		48,998
3.50%, 11/01/2028 - 01/01/2029		71,609		75,576
4.00%, 10/01/2025 - 06/01/2042		46,059		48,994
4.50%, 02/01/2025 - 06/01/2026		52,142		54,948
12-Month LIBOR + 1.75%, 4.82% (D), 03/01/2041		4,153		4,323
12-Month LIBOR + 1.82%, 4.90% (D), 03/01/2041		1,746		1,829
5.00%, 04/01/2039 - 11/01/2039		168,207		187,754
5.50%, 09/01/2036 - 12/01/2041		236,125		266,905
6.00%, 02/01/2038 - 06/01/2041		247,376		284,859
6.50%, 05/01/2040		32,910		37,689
Government National Mortgage Association, Interest Only STRIPS
0.80% (D), 02/16/2053		172,311		8,328
Uniform Mortgage-Backed Security
2.50%, TBA (F)		517,000		526,290
3.00%, TBA (F)		3,070,000		3,139,860
3.50%, TBA (F)		2,814,000		2,904,173
4.00%, TBA (F)		1,088,000		1,136,941
Total U.S. Government Agency Obligations (Cost $9,936,367)				10,038,932

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS - 9.6%
U.S. Treasury - 8.4%
U.S. Treasury Bond
2.25%, 08/15/2046		$   123,000		$   128,525
2.50%, 02/15/2045 - 05/15/2046		514,000		561,834
2.75%, 08/15/2042 - 11/15/2047		1,013,500		1,160,457
2.88%, 08/15/2045		166,000		194,090
3.00%, 05/15/2042 - 08/15/2048		247,100		296,142
3.13%, 05/15/2048		17,000		21,069
3.50%, 02/15/2039		369,000		469,135
3.63%, 02/15/2044		1,105,300		1,446,259
4.50%, 02/15/2036		140,000		194,737
4.75%, 02/15/2037		535,000		773,180
5.25%, 02/15/2029		177,000		233,184
U.S. Treasury Note
1.13%, 06/30/2021 - 09/30/2021		255,000		253,919
1.50%, 08/15/2026		145,000		145,731
1.63%, 08/15/2022 - 08/15/2029		868,800		877,172
1.75%, 11/30/2021		163,000		164,140
1.88%, 11/30/2021		155,000		156,453
2.00%, 01/15/2021 - 02/15/2025		637,000		646,987
2.25%, 11/15/2027		174,300		184,479
2.38%, 05/15/2029		194,000		208,649
2.50%, 08/15/2023		156,000		162,405
2.63%, 08/15/2020 - 02/15/2029		686,900		718,812
2.88%, 05/15/2028 - 05/15/2049		937,500		1,085,528
3.13%, 11/15/2028		249,500		282,900
				10,365,787
U.S. Treasury Inflation-Protected Securities - 1.2%
U.S. Treasury Inflation-Indexed Bond
1.75%, 01/15/2028		88,407		101,582
2.50%, 01/15/2029		326,728		403,302
U.S. Treasury Inflation-Indexed Note
0.63%, 01/15/2024		950,311		980,352
				1,485,236
Total U.S. Government Obligations (Cost $10,906,340)				11,851,023
COMMERCIAL PAPER - 5.3%
Banks - 1.0%
Banco Santander SA
1.99% (K), 02/10/2020		325,000		324,842
Manhattan Asset Funding Co. LLC
1.68% (K), 02/24/2020		400,000		399,578
Natixis
1.89% (K), 02/04/2020		474,000		473,926
				1,198,346
Capital Markets - 0.3%
Cedar Springs Capital Co. LLC
2.04% (K), 03/16/2020		400,000		399,022
Commercial Services & Supplies - 0.2%
Charta LLC
1.88% (K), 03/02/2020		300,000		299,538
Diversified Financial Services - 3.8%
Anglesea Funding PLC
1.89% (K), 02/03/2020		300,000		299,969
Barton Capital Corp.
1.73% (K), 04/21/2020		250,000		249,056
1.88% (K), 02/13/2020		250,000		249,846

	Principal		Value
COMMERCIAL PAPER (continued)
Diversified Financial Services (continued)
Bennington Stark Capital Co. LLC
1.92% (K), 02/19/2020		$   450,000		$   449,577
Chariot Funding LLC
1.87% (K), 03/03/2020		300,000		299,525
Gotham Funding Corp.
1.99% (K), 03/10/2020		300,000		299,383
Jupiter Securitization Co. LLC
1.78% (K), 04/13/2020		400,000		398,600
Kells Funding LLC
1.73% (K), 04/21/2020		450,000		448,300
Liberty Funding LLC
1.85% (K), 04/01/2020		425,000		423,711
Mont Blanc Capital Corp.
1.91% (K), 02/12/2020		250,000		249,857
Nieuw Amsterdam Receivables Corp.
1.73% (K), 04/06/2020		325,000		324,002
Sheffield Receivables Corp.
1.91% (K), 02/19/2020		450,000		449,579
Starbird Funding Corp.
1.88% (K), 02/13/2020		300,000		299,815
Victory Receivables
1.99% (K), 03/10/2020		250,000		249,485
				4,690,705
Total Commercial Paper (Cost $6,587,611)				6,587,611
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 0.9%
U.S. Treasury Bill
1.54% (K), 02/06/2020 - 04/02/2020		1,000,000		997,814
1.55% (K), 02/13/2020		175,000		174,911
Total Short-Term U.S. Government Obligations (Cost $1,172,725)				1,172,725
	Shares		Value
OTHER INVESTMENT COMPANY - 1.5%
Securities Lending Collateral - 1.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (K)		1,861,420		1,861,420
Total Other Investment Company (Cost $1,861,420)				1,861,420
Total Investments (Cost $115,424,133)				131,838,190
Net Other Assets (Liabilities) - (6.6)%				(8,155,995	)
Net Assets - 100.0%				$  123,682,195

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Balanced II

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts:

Description	Number of Contracts	Expiration Date		Notional Amount		Value		Unrealized Appreciation	Unrealized Depreciation
S&P 500® E-Mini Index	6		03/20/2020		$    994,862		$    967,200	$    —	$    (27,662)

SECURITY VALUATION:

Valuation Inputs ^(L)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (M)		Value
ASSETS
Investments
Common Stocks	$	72,814,313		$	—	$	—	$	72,814,313
Preferred Stock		7,968			—		—		7,968
Asset-Backed Securities		—			4,107,473		—		4,107,473
Corporate Debt Securities		—			16,987,497		0		16,987,497
Foreign Government Obligations		—			693,952		—		693,952
Mortgage-Backed Securities		—			5,281,604		—		5,281,604
Municipal Government Obligations		—			433,672		—		433,672
U.S. Government Agency Obligations		—			10,038,932		—		10,038,932
U.S. Government Obligations		—			11,851,023		—		11,851,023
Commercial Paper		—			6,587,611		—		6,587,611
Short-Term U.S. Government Obligations		—			1,172,725		—		1,172,725
Other Investment Company		1,861,420			—		—		1,861,420
Total Investments	$	74,683,701		$	57,154,489	$	0	$	131,838,190
LIABILITIES
Other Financial Instruments
Futures Contracts (N)	$	(27,662	)	$	—	$	—	$	(27,662	)
Total Other Financial Instruments	$	(27,662	)	$	—	$	—	$	(27,662	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $1,821,818. 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)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(E)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $13,421,325, representing 10.9% of the Fund’s net assets.
(F)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(G)	Perpetual maturity. The date displayed is the next call date.
(H)	Security deemed worthless.
(I)	Security is Level 3 of the fair value hierarchy.
(J)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the value of the security is $0, representing 0.00% of the Fund’s net assets.
(K)	Rates disclosed reflect the yields at January 31, 2020.
(L)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(M)	Level 3 securities were not considered significant to the Fund.
(N)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 13.0%
321 Henderson Receivables VI LLC
Series 2010-1A, Class A,
5.56%, 07/15/2059 (A)		$  788,337		$  867,200
Avid Automobile Receivables Trust
Series 2019-1, Class A,
2.62%, 02/15/2024 (A)		1,553,275		1,556,405
Battalion CLO XII, Ltd.
Series 2018-12A, Class A1,
3-Month LIBOR + 1.07%, 2.97% (B), 05/17/2031 (A)		2,500,000		2,486,505
Benefit Street Partners CLO VII, Ltd.
Series 2015-VIIA, Class A2R,
3-Month LIBOR + 1.20%, 3.02% (B), 07/18/2027 (A)		525,000		525,008
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029 (A)		252,543		254,423
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (A)		1,176,172		1,176,749
CARS-DB4, LP
Series 2020-1A, Class A1,
2.69%, 02/15/2050 (A)		1,230,000		1,230,000
Series 2020-1A, Class A4,
3.19%, 02/15/2050 (A)		6,010,000		6,030,674
CIFC Funding, Ltd.
Series 2013-2A, Class A1LR,
3-Month LIBOR + 1.21%, 3.04% (B), 10/18/2030 (A)		5,000,000		5,001,735
Series 2015-2A, Class BR,
3-Month LIBOR + 1.25%, 3.08% (B), 04/15/2027 (A)		2,810,000		2,810,441
Countrywide Asset-Backed Certificates
Series 2002-S3, Class A5,
4.93% (B), 05/25/2032		6,731		6,721
Series 2006-6, Class 2A3,
1-Month LIBOR + 0.28%, 1.94% (B), 09/25/2036		593,418		593,190
Diamond Resorts Owner Trust
Series 2019-1A, Class A,
2.89%, 02/20/2032 (A)		2,201,826		2,232,814
ExteNet LLC
Series 2019-1A, Class A2,
3.20%, 07/26/2049 (A)		2,765,000		2,828,426
GSAA Home Equity Trust
Series 2006-1, Class A3,
1-Month LIBOR + 0.33%, 1.99% (B), 01/25/2036		1,365,941		881,557
Hertz Vehicle Financing II, LP
Series 2017-2A, Class A,
3.29%, 10/25/2023 (A)		1,100,000		1,135,552
Series 2019-3A, Class B,
3.03%, 12/26/2025 (A)		4,975,000		5,067,536
Hilton Grand Vacations Trust
Series 2018-AA, Class C,
4.00%, 02/25/2032 (A)		1,297,768		1,342,438

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Jamestown CLO IV, Ltd.
Series 2014-4A, Class A2R,
3-Month LIBOR + 1.35%, 3.18% (B), 07/15/2026 (A)		$   4,400,000		$   4,402,240
JG Wentworth XXI LLC
Series 2010-2A, Class A,
4.07%, 01/15/2048 (A)		634,397		667,015
JGWPT XXIII LLC
Series 2011-1A, Class A,
4.70%, 10/15/2056 (A)		1,615,270		1,807,779
Lehman XS Trust
Series 2005-8, Class 1A3,
1-Month LIBOR + 0.35%, 2.01% (B), 12/25/2035		1,185,258		1,255,828
Longfellow Place CLO, Ltd.
Series 2013-1A, Class ARR,
3-Month LIBOR + 1.34%, 3.17% (B), 04/15/2029 (A)		7,050,000		7,054,026
Mountain View CLO, Ltd.
Series 2014-1A, Class BRR,
3-Month LIBOR + 1.45%, 3.28% (B), 10/15/2026 (A)		2,000,000		2,000,642
MVW LLC
Series 2019-2A, Class B,
2.44%, 10/20/2038 (A)		1,871,657		1,882,300
MVW Owner Trust
Series 2019-1A, Class A,
2.89%, 11/20/2036 (A)		3,738,510		3,837,589
NADG NNN Operating, LP
Series 2019-1, Class A,
3.37%, 12/28/2049 (A)		5,447,729		5,508,675
New Residential Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.52%, 08/15/2053 (A)		9,790,000		9,830,940
Series 2019-T3, Class AT3,
2.51%, 09/15/2052 (A)		11,475,000		11,560,263
Series 2019-T3, Class CT3,
2.71%, 09/15/2052 (A)		2,000,000		2,014,793
Series 2019-T4, Class BT4,
2.46%, 10/15/2051 (A)		600,000		601,744
Series 2019-T4, Class CT4,
2.51%, 10/15/2051 (A)		3,000,000		3,008,711
Series 2019-T4, Class DT4,
2.80%, 10/15/2051 (A)		4,250,000		4,262,252
NRZ Advance Receivables Trust
Series 2019-T1, Class AT1,
2.59%, 07/15/2052 (A)		100,000		100,890
Series 2019-T1, Class BT1,
2.84%, 07/15/2052 (A)		3,255,000		3,284,052
Series 2019-T1, Class DT1,
3.33%, 07/15/2052 (A)		4,732,000		4,780,041
Ocwen Master Advance Receivables Trust
Series 2019-T1, Class AT1,
2.51%, 08/15/2050 (A)		3,542,000		3,559,089
Series 2019-T1, Class BT1,
2.66%, 08/15/2050 (A)		467,000		469,249
Series 2019-T1, Class CT1,
2.81%, 08/15/2050 (A)		583,000		585,806
Series 2019-T1, Class DT1,
3.11%, 08/15/2050 (A)		636,000		639,056
Series 2019-T2, Class AT2,
2.42%, 08/15/2051 (A)		3,574,000		3,612,061

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Ocwen Master Advance Receivables Trust (continued)
Series 2019-T2, Class BT2,
2.65%, 08/15/2051 (A)		$   800,000		$   808,453
Series 2019-T2, Class CT2,
2.75%, 08/15/2051 (A)		1,172,000		1,184,365
Series 2019-T2, Class DT2,
3.04%, 08/15/2051 (A)		1,373,000		1,387,416
Orange Lake Timeshare Trust
Series 2014-AA, Class A,
2.29%, 07/09/2029 (A)		221,822		221,536
Series 2016-A, Class A,
2.61%, 03/08/2029 (A)		617,462		623,153
Series 2018-A, Class C,
3.74%, 11/08/2030 (A)		1,205,456		1,223,522
Series 2019-A, Class A,
3.06%, 04/09/2038 (A)		780,303		795,887
Series 2019-A, Class C,
3.61%, 04/09/2038 (A)		780,299		796,746
OZLM Funding IV, Ltd.
Series 2013-4A, Class A2R,
3-Month LIBOR + 1.70%, 3.50% (B), 10/22/2030 (A)		3,750,000		3,751,414
Sierra Timeshare Receivables Funding LLC
Series 2018-3A, Class A,
3.69%, 09/20/2035 (A)		1,593,490		1,655,114
Series 2018-3A, Class D,
5.20%, 09/20/2035 (A)		1,713,753		1,777,589
Series 2019-1A, Class B,
3.42%, 01/20/2036 (A)		1,248,369		1,264,958
Series 2019-2A, Class A,
2.59%, 05/20/2036 (A)		1,819,217		1,831,678
Series 2019-2A, Class D,
4.54%, 05/20/2036 (A)		1,845,802		1,867,420
Small Business Lending Trust
Series 2019-A, Class A,
2.85%, 07/15/2026 (A)		4,758,992		4,766,408
Sofi Consumer Loan Program LLC
Series 2017-1, Class A,
3.28%, 01/26/2026 (A)		313,794		314,882
Soundview Home Loan Trust
Series 2006-3, Class A3,
1-Month LIBOR + 0.16%, 1.82% (B), 11/25/2036		938,893		925,347
SPS Servicer Advanced Receivables Trust
Series 2019-T1, Class DT1,
2.63%, 10/15/2051 (A)		900,000		903,404
Series 2019-T2, Class AT2,
2.32%, 10/15/2052 (A)		7,215,000		7,267,156
STORE Master Funding I LLC
Series 2015-1A, Class A1,
3.75%, 04/20/2045 (A)		4,360,909		4,457,355
Series 2015-1A, Class A2,
4.17%, 04/20/2045 (A)		895,221		946,633
STORE Master Funding I-VII and XIV
Series 2019-1, Class A3,
3.32%, 11/20/2049 (A)		1,142,048		1,160,283
STORE Master Funding LLC
Series 2013-3A, Class A2,
5.21%, 11/20/2043 (A)		779,611		824,109
TICP CLO I, Ltd.
Series 2015-1A, Class BR,
3-Month LIBOR + 1.30%, 3.12% (B), 07/20/2027 (A)		1,440,000		1,441,090

	Principal		Value
ASSET-BACKED SECURITIES (continued)
TICP CLO III, Ltd.
Series 2018-3R, Class B,
3-Month LIBOR + 1.35%, 3.17% (B), 04/20/2028 (A)		$   1,250,000		$   1,249,503
Towd Point Mortgage Trust
Series 2016-4, Class A1,
2.25% (B), 07/25/2056 (A)		296,914		296,899
Series 2017-1, Class A1,
2.75% (B), 10/25/2056 (A)		785,425		794,814
Series 2017-3, Class A1,
2.75% (B), 07/25/2057 (A)		1,236,745		1,254,390
Series 2017-4, Class A1,
2.75% (B), 06/25/2057 (A)		1,223,792		1,246,528
Series 2017-6, Class A1,
2.75% (B), 10/25/2057 (A)		2,562,756		2,600,968
Series 2018-2, Class A1,
3.25% (B), 03/25/2058 (A)		4,433,639		4,544,235
Series 2018-3, Class A1,
3.75% (B), 05/25/2058 (A)		8,213,122		8,577,325
Series 2018-5, Class A1A,
3.25% (B), 07/25/2058 (A)		3,215,378		3,297,524
Series 2019-1, Class A1,
3.75% (B), 03/25/2058 (A)		14,367,096		15,156,736
Trafigura Securitisation Finance PLC
Series 2018-1A, Class A2,
3.73%, 03/15/2022 (A)		3,090,000		3,159,531
Welk Resorts LLC
Series 2015-AA, Class A,
2.79%, 06/16/2031 (A)		588,159		589,718
Series 2019-AA, Class A,
2.80%, 06/15/2038 (A)		1,791,374		1,819,573
Wellfleet CLO, Ltd.
Series 2016-2A, Class A2R,
3-Month LIBOR + 1.58%, 3.40% (B), 10/20/2028 (A)		4,975,000		4,975,950
Total Asset-Backed Securities (Cost $200,474,360)				204,512,027
CORPORATE DEBT SECURITIES - 46.1%
Aerospace & Defense - 0.2%
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		1,597,000		1,664,934
Northrop Grumman Corp.
3.20%, 02/01/2027		738,000		785,837
				2,450,771
Airlines - 1.5%
America West Airlines Pass-Through Trust
8.06%, 01/02/2022		558,192		571,917
American Airlines Pass-Through Trust
3.15%, 08/15/2033		2,621,000		2,845,451
3.70%, 04/01/2028		1,365,875		1,468,440
4.00%, 01/15/2027		2,033,899		2,167,799
Continental Airlines Pass-Through Trust
6.90%, 10/19/2023		94,358		99,403
Delta Air Lines Pass-Through Trust
3.20%, 10/25/2025		1,655,000		1,748,412
4.75%, 11/07/2021		966,898		974,144
6.82%, 02/10/2024		1,339,137		1,458,981
JetBlue Pass-Through Trust
2.75%, 11/15/2033		2,848,000		2,954,448
United Airlines Holdings, Inc.
4.25%, 10/01/2022		1,500,000		1,552,950
4.88%, 01/15/2025 (C)		1,500,000		1,582,500

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Airlines (continued)
United Airlines Pass-Through Trust
2.70%, 11/01/2033		$   1,051,000		$   1,089,707
3.75%, 03/03/2028		1,597,486		1,718,576
4.15%, 02/25/2033		2,178,800		2,439,278
US Airways Pass-Through Trust
3.95%, 05/15/2027		287,038		307,720
				22,979,726
Auto Components - 0.3%
Panther BF Aggregator 2, LP / Panther Finance Co., Inc.
6.25%, 05/15/2026 (A)		3,308,000		3,548,167
Weichai International Hong Kong Energy Group Co., Ltd.
Fixed until 09/14/2022 (D), 3.75% (B) (E)		1,600,000		1,612,816
				5,160,983
Automobiles - 0.2%
General Motors Co.
6.25%, 10/02/2043		2,723,000		3,218,047
Banks - 6.9%
Banco Santander SA
2.71%, 06/27/2024		3,400,000		3,494,272
Bank of America Corp.
Fixed until 01/23/2025, 3.37% (B), 01/23/2026		2,350,000		2,496,675
Fixed until 12/20/2027, 3.42% (B), 12/20/2028		6,296,000		6,757,583
5.88%, 02/07/2042, MTN		891,000		1,294,042
Barclays Bank PLC
10.18%, 06/12/2021 (A)		2,164,000		2,394,664
Barclays PLC
Fixed until 02/15/2022, 4.61% (B), 02/15/2023		1,317,000		1,380,112
5.20%, 05/12/2026		4,372,000		4,921,884
BBVA Bancomer SA
Fixed until 09/13/2029, 5.88% (B), 09/13/2034 (A)		4,955,000		5,467,842
6.50%, 03/10/2021 (A)		1,105,000		1,151,963
6.75%, 09/30/2022 (A)		1,500,000		1,646,250
BNP Paribas SA
Fixed until 03/14/2022 (D), 6.75% (A) (B) (C)		2,429,000		2,580,813
BPCE SA
3.50%, 10/23/2027 (A)		2,046,000		2,173,158
CIT Bank NA
Fixed until 09/27/2024, 2.97% (B), 09/27/2025		3,010,000		3,032,575
Citigroup, Inc.
Fixed until 04/24/2024, 3.35% (B), 04/24/2025		2,836,000		2,984,304
Fixed until 10/27/2027, 3.52% (B), 10/27/2028		3,408,000		3,665,669
Fixed until 09/12/2024 (D), 5.00% (B)		2,894,000		3,027,442
Commerzbank AG
8.13%, 09/19/2023 (A)		2,891,000		3,398,167
Credit Agricole SA
2.38%, 01/22/2025 (A)		6,243,000		6,333,142
3.25%, 01/14/2030 (A)		4,842,000		4,991,543
Danske Bank A/S
Fixed until 12/20/2024, 3.24% (B), 12/20/2025 (A)		3,008,000		3,113,130

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Discover Bank
3.45%, 07/27/2026		$   2,949,000		$   3,118,660
4.65%, 09/13/2028		2,953,000		3,399,028
HSBC Holdings PLC
Fixed until 09/17/2024 (D), 6.38% (B) (C)		3,343,000		3,631,334
ING Bank NV
5.80%, 09/25/2023 (A)		963,000		1,078,661
Intesa Sanpaolo SpA
4.00%, 09/23/2029 (A) (C)		2,974,000		3,137,614
5.02%, 06/26/2024 (A)		595,000		631,814
JPMorgan Chase & Co.
4.13%, 12/15/2026		4,486,000		5,019,806
Fixed until 02/01/2025 (D), 4.60% (B)		5,603,000		5,710,578
National Australia Bank, Ltd.
Fixed until 08/02/2029, 3.93% (B), 08/02/2034 (A) (C)		4,905,000		5,215,263
Truist Financial Corp.
Fixed until 09/01/2024 (D), 4.80% (B) (C)		5,098,000		5,256,905
UniCredit SpA
6.57%, 01/14/2022 (A)		2,283,000		2,456,541
Wells Fargo & Co.
3-Month LIBOR + 3.77%, 5.66% (B), 03/15/2020 (D)		2,848,000		2,865,942
Wells Fargo Bank NA
5.95%, 08/26/2036		459,000		637,517
				108,464,893
Beverages - 1.8%
Anheuser-Busch InBev Finance, Inc.
3.70%, 02/01/2024		1,543,000		1,658,514
Anheuser-Busch InBev Worldwide, Inc.
4.15%, 01/23/2025		2,390,000		2,636,038
4.44%, 10/06/2048		844,000		999,465
4.75%, 01/23/2029		3,118,000		3,689,562
Constellation Brands, Inc.
2.65%, 11/07/2022		2,509,000		2,564,918
3.15%, 08/01/2029		1,041,000		1,084,119
3.70%, 12/06/2026		2,851,000		3,101,339
Cott Holdings, Inc.
5.50%, 04/01/2025 (A)		4,510,000		4,679,125
Pernod Ricard SA
4.45%, 01/15/2022 (A)		6,778,000		7,121,408
5.75%, 04/07/2021 (A)		777,000		813,222
				28,347,710
Biotechnology - 0.2%
AbbVie, Inc.
3.20%, 05/14/2026		1,302,000		1,364,219
4.05%, 11/21/2039 (A)		1,324,000		1,440,621
				2,804,840
Building Products - 0.5%
Associated Materials LLC / AMH New Finance, Inc.
9.00%, 01/01/2024 (A)		2,215,000		1,927,050
Builders FirstSource, Inc.
5.63%, 09/01/2024 (A)		4,316,000		4,476,555
Owens Corning
7.00%, 12/01/2036		1,380,000		1,824,050
				8,227,655

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Capital Markets - 2.8%
Bank of New York Mellon Corp.
Fixed until 06/20/2020 (D), 4.95% (B)		$   1,556,000		$   1,572,478
Charles Schwab Corp.
Fixed until 12/01/2027 (D), 5.00% (B) (C)		3,340,000		3,515,350
Credit Suisse AG
6.50%, 08/08/2023 (A)		3,070,000		3,434,562
Credit Suisse Group AG
Fixed until 08/21/2026 (D), 6.38% (A) (B)		2,297,000		2,546,799
Fixed until 09/12/2025 (D), 7.25% (A) (B)		2,165,000		2,454,569
Goldman Sachs Group, Inc.
3.85%, 01/26/2027		6,886,000		7,469,676
5.25%, 07/27/2021		3,202,000		3,364,506
Lazard Group LLC
4.50%, 09/19/2028		2,336,000		2,670,857
Morgan Stanley
Fixed until 01/22/2030, 2.70% (B), 01/22/2031, MTN		4,172,000		4,239,810
3.13%, 01/23/2023, MTN		755,000		783,388
4.00%, 07/23/2025, MTN		5,828,000		6,403,443
UBS AG
7.63%, 08/17/2022		2,433,000		2,746,906
UBS Group AG
Fixed until 08/13/2029, 3.13% (B), 08/13/2030 (A)		1,377,000		1,438,941
Fixed until 08/10/2021 (D), 7.13% (B) (E)		1,055,000		1,115,502
				43,756,787
Chemicals - 0.7%
Mosaic Co.
4.05%, 11/15/2027 (C)		800,000		856,729
NOVA Chemicals Corp.
4.88%, 06/01/2024 (A)		2,800,000		2,842,000
Nutrien, Ltd.
4.20%, 04/01/2029		2,514,000		2,827,636
Syngenta Finance NV
3.93%, 04/23/2021 (A)		3,855,000		3,935,297
				10,461,662
Commercial Services & Supplies - 0.4%
Ashtead Capital, Inc.
4.25%, 11/01/2029 (A)		1,358,000		1,412,320
5.25%, 08/01/2026 (A)		2,001,000		2,131,065
Stericycle, Inc.
5.38%, 07/15/2024 (A)		2,522,000		2,639,954
				6,183,339
Communications Equipment - 0.5%
CommScope, Inc.
5.50%, 03/01/2024 (A)		5,927,000		6,089,993
Nokia OYJ
3.38%, 06/12/2022		2,050,000		2,080,750
				8,170,743
Construction & Engineering - 1.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.
6.75%, 08/01/2025 (A)		990,000		1,019,700
9.88%, 04/01/2027 (A)		2,000,000		2,300,000
IHS Holdco BV
7.13%, 03/18/2025 (A)		1,565,000		1,659,244
8.00%, 09/18/2027 (A)		1,975,000		2,133,000

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Construction & Engineering (continued)
SBA Tower Trust
2.84%, 01/15/2025 (A)		$   6,883,000		$   7,124,343
2.88%, 07/15/2046 (A)		1,005,000		1,011,421
3.17%, 04/09/2047 (A)		880,000		895,462
3.45%, 03/15/2048 (A)		995,000		1,042,044
				17,185,214
Construction Materials - 0.6%
CRH America Finance, Inc.
3.40%, 05/09/2027 (A)		2,580,000		2,738,530
LafargeHolcim Finance LLC
3.50%, 09/22/2026 (A)		4,266,000		4,450,240
Martin Marietta Materials, Inc.
3.50%, 12/15/2027		2,300,000		2,469,428
				9,658,198
Consumer Finance - 1.5%
Ally Financial, Inc.
3.88%, 05/21/2024		2,830,000		2,984,461
8.00%, 03/15/2020		500,000		503,125
Altice Financing SA
7.50%, 05/15/2026 (A)		2,750,000		2,938,925
BMW US Capital LLC
2.80%, 04/11/2026 (A) (C)		4,540,000		4,693,121
Capital One Financial Corp.
3.30%, 10/30/2024		3,509,000		3,701,577
Ford Motor Credit Co. LLC
4.54%, 08/01/2026		1,612,000		1,677,487
Navient Corp.
5.00%, 10/26/2020		2,050,000		2,078,700
Springleaf Finance Corp.
7.13%, 03/15/2026		2,000,000		2,294,700
8.25%, 12/15/2020		1,980,000		2,067,615
				22,939,711
Containers & Packaging - 0.7%
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/2024 (A)		5,810,000		5,987,030
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.75%, 10/15/2020		2,878,250		2,884,870
WRKCo, Inc.
3.90%, 06/01/2028		2,405,000		2,606,529
				11,478,429
Diversified Financial Services - 1.2%
Aircastle, Ltd.
4.25%, 06/15/2026		3,705,000		3,991,692
Aviation Capital Group LLC
2.88%, 01/20/2022 (A)		2,349,000		2,377,390
3.50%, 11/01/2027 (A)		1,166,000		1,191,797
7.13%, 10/15/2020 (A)		2,704,000		2,798,908
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.25%, 02/01/2027 (A)		3,771,000		3,763,496
Virgin Media Secured Finance PLC
5.50%, 05/15/2029 (A)		3,940,000		4,146,850
				18,270,133
Diversified Telecommunication Services - 1.9%
AT&T, Inc.
3.40%, 05/15/2025		4,207,000		4,463,837
CenturyLink, Inc.
5.80%, 03/15/2022		3,035,000		3,198,981
6.45%, 06/15/2021		3,455,000		3,626,023
7.50%, 04/01/2024 (C)		1,750,000		1,974,578

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Telecommunication Services (continued)
Hughes Satellite Systems Corp.
7.63%, 06/15/2021		$   4,855,000		$   5,191,451
Level 3 Financing, Inc.
3.40%, 03/01/2027 (A)		3,328,000		3,418,854
Verizon Communications, Inc.
3.50%, 11/01/2024		870,000		932,284
4.13%, 03/16/2027		2,134,000		2,407,498
Virgin Media Finance PLC
6.00%, 10/15/2024 (A)		4,000,000		4,120,400
				29,333,906
Electric Utilities - 0.9%
Cleveland Electric Illuminating Co.
3.50%, 04/01/2028 (A)		4,009,000		4,318,358
EDP Finance BV
3.63%, 07/15/2024 (A)		8,739,000		9,197,137
Vistra Operations Co. LLC
5.00%, 07/31/2027 (A)		1,247,000		1,284,410
				14,799,905
Electronic Equipment, Instruments & Components - 0.6%
Amphenol Corp.
2.80%, 02/15/2030		2,182,000		2,213,259
Arrow Electronics, Inc.
3.50%, 04/01/2022		1,657,000		1,704,211
Jabil, Inc.
3.60%, 01/15/2030		1,358,000		1,394,896
Keysight Technologies, Inc.
4.60%, 04/06/2027		3,886,000		4,420,984
				9,733,350
Energy Equipment & Services - 0.2%
Noble Holding International, Ltd.
6.05%, 03/01/2041		1,736,000		572,880
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (A)		1,737,000		1,872,416
				2,445,296
Equity Real Estate Investment Trusts - 2.1%
CBL & Associates, LP
5.25%, 12/01/2023 (C)		997,000		598,200
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		922,000		935,314
EPR Properties
3.75%, 08/15/2029		2,420,000		2,512,088
Healthcare Trust of America Holdings, LP
3.10%, 02/15/2030		1,525,000		1,575,982
Healthpeak Properties, Inc.
3.88%, 08/15/2024		2,877,000		3,098,742
Highwoods Realty, LP
3.05%, 02/15/2030		3,244,000		3,315,847
4.20%, 04/15/2029		2,833,000		3,144,967
Iron Mountain, Inc.
5.25%, 03/15/2028 (A)		3,750,000		3,918,750
iStar, Inc.
4.25%, 08/01/2025		2,171,000		2,181,855
5.25%, 09/15/2022		1,946,000		1,986,138
Kilroy Realty, LP
4.75%, 12/15/2028		2,039,000		2,367,372
Life Storage, LP
4.00%, 06/15/2029		1,053,000		1,157,588
Service Properties Trust
4.65%, 03/15/2024		3,147,000		3,315,693
4.95%, 10/01/2029		1,321,000		1,388,730

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
VEREIT Operating Partnership, LP
4.63%, 11/01/2025		$   1,709,000		$   1,906,392
				33,403,658
Food & Staples Retailing - 0.3%
Albertsons Cos., Inc. / Safeway, Inc.
4.63%, 01/15/2027 (A) (F)		4,110,000		4,167,047
Food Products - 0.3%
Post Holdings, Inc.
5.63%, 01/15/2028 (A)		2,000,000		2,115,000
Tyson Foods, Inc.
4.00%, 03/01/2026		2,658,000		2,929,107
				5,044,107
Health Care Equipment & Supplies - 0.4%
Abbott Laboratories
3.75%, 11/30/2026		690,000		766,004
Alcon Finance Corp.
2.75%, 09/23/2026 (A)		2,053,000		2,126,742
Becton Dickinson and Co.
3-Month LIBOR + 0.88%, 2.84% (B), 12/29/2020		655,000		655,339
Boston Scientific Corp.
4.70%, 03/01/2049		1,604,000		2,020,045
				5,568,130
Health Care Providers & Services - 1.1%
Centene Corp.
4.25%, 12/15/2027 (A)		1,047,000		1,091,498
CHS / Community Health Systems, Inc.
8.00%, 03/15/2026 (A)		725,000		755,595
8.13%, 06/30/2024 (A)		116,000		104,225
Cigna Corp.
4.50%, 02/25/2026 (A)		1,028,000		1,148,538
CVS Health Corp.
4.78%, 03/25/2038		3,079,000		3,591,380
HCA, Inc.
4.13%, 06/15/2029		2,885,000		3,122,132
5.25%, 04/15/2025		2,342,000		2,660,361
Laboratory Corp. of America Holdings
2.30%, 12/01/2024		2,991,000		3,031,553
Quest Diagnostics, Inc.
4.20%, 06/30/2029		2,067,000		2,331,323
				17,836,605
Hotels, Restaurants & Leisure - 1.6%
Boyd Gaming Corp.
4.75%, 12/01/2027 (A)		2,549,000		2,606,353
GLP Capital, LP / GLP Financing II, Inc.
4.00%, 01/15/2030		2,357,000		2,487,601
International Game Technology PLC
6.50%, 02/15/2025 (A)		2,792,000		3,147,980
MGM Resorts International
5.75%, 06/15/2025		5,150,000		5,741,323
NCL Corp., Ltd.
3.63%, 12/15/2024 (A)		1,516,000		1,504,630
Scientific Games International, Inc.
7.00%, 05/15/2028 (A)		699,000		737,648
7.25%, 11/15/2029 (A)		796,000		853,710
8.25%, 03/15/2026 (A)		3,200,000		3,472,000

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Hotels, Restaurants & Leisure (continued)
Viking Cruises, Ltd.
5.88%, 09/15/2027 (A)		$   4,525,000		$   4,638,351
				25,189,596
Household Durables - 0.3%
Century Communities, Inc.
6.75%, 06/01/2027 (A) (G)		1,319,000		1,431,115
D.R. Horton, Inc.
4.38%, 09/15/2022		2,438,000		2,568,987
KB Home
7.63%, 05/15/2023		795,000		895,886
				4,895,988
Independent Power & Renewable Electricity Producers - 0.2%
Calpine Corp.
5.25%, 06/01/2026 (A)		1,250,000		1,290,750
NRG Energy, Inc.
7.25%, 05/15/2026		1,616,000		1,749,352
				3,040,102
Industrial Conglomerates - 0.3%
Carlisle Cos., Inc.
3.75%, 12/01/2027		2,784,000		3,002,838
General Electric Co.
Fixed until 01/21/2021 (D), 5.00% (B)		1,442,000		1,435,165
				4,438,003
Insurance - 1.3%
American International Group, Inc.
4.20%, 04/01/2028		1,970,000		2,217,871
4.25%, 03/15/2029		1,572,000		1,783,386
Aon Corp.
3.75%, 05/02/2029		3,831,000		4,220,632
CNA Financial Corp.
3.90%, 05/01/2029		1,187,000		1,317,855
Markel Corp.
5.00%, 05/20/2049		1,790,000		2,219,103
MetLife Capital Trust IV
7.88%, 12/15/2067 (A)		1,281,000		1,742,160
Reinsurance Group of America, Inc.
3.90%, 05/15/2029		3,871,000		4,216,613
Swiss Re Finance SA
Fixed until 04/02/2029, 5.00% (B), 04/02/2049 (A)		2,978,000		3,383,753
				21,101,373
Interactive Media & Services - 0.3%
Baidu, Inc.
4.38%, 05/14/2024		2,436,000		2,627,007
Tencent Holdings, Ltd.
3.28%, 04/11/2024 (A)		1,686,000		1,762,001
				4,389,008
Internet & Direct Marketing Retail - 0.2%
Expedia Group, Inc.
3.25%, 02/15/2030 (A)		1,779,000		1,748,696
3.80%, 02/15/2028		1,761,000		1,826,538
				3,575,234

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
IT Services - 0.2%
Fidelity National Information Services, Inc.
3.75%, 05/21/2029		$   760,000		$   849,389
Fiserv, Inc.
3.50%, 07/01/2029		1,443,000		1,554,931
				2,404,320
Leisure Products - 0.4%
Hasbro, Inc.
3.55%, 11/19/2026		4,192,000		4,368,002
Mattel, Inc.
5.88%, 12/15/2027 (A)		360,000		378,414
6.75%, 12/31/2025 (A)		1,500,000		1,608,750
				6,355,166
Marine - 0.2%
MV24 Capital BV
6.75%, 06/01/2034 (A)		2,933,529		3,163,224
Media - 2.1%
Charter Communications Operating LLC / Charter Communications Operating Capital
5.13%, 07/01/2049		6,774,000		7,558,636
Clear Channel Worldwide Holdings, Inc.
9.25%, 02/15/2024 (A)		1,055,000		1,148,631
Comcast Corp.
4.15%, 10/15/2028		3,221,000		3,694,999
CSC Holdings LLC
6.63%, 10/15/2025 (A)		2,000,000		2,111,500
6.75%, 11/15/2021		1,315,000		1,412,007
Diamond Sports Group LLC / Diamond Sports Finance Co.
5.38%, 08/15/2026 (A)		1,040,000		1,035,946
6.63%, 08/15/2027 (A) (C)		690,000		645,150
DISH DBS Corp.
5.00%, 03/15/2023		1,500,000		1,522,530
5.88%, 07/15/2022		5,865,000		6,158,250
6.75%, 06/01/2021		900,000		943,875
Time Warner Cable LLC
5.00%, 02/01/2020		914,000		914,000
Univision Communications, Inc.
5.13%, 05/15/2023 (A)		2,250,000		2,250,000
6.75%, 09/15/2022 (A)		646,000		655,690
Ziggo BV
5.50%, 01/15/2027 (A)		2,750,000		2,915,000
				32,966,214
Metals & Mining - 0.2%
Teck Resources, Ltd.
6.25%, 07/15/2041		2,073,000		2,418,205
Multi-Utilities - 0.7%
Black Hills Corp.
3.05%, 10/15/2029		1,445,000		1,492,540
3.15%, 01/15/2027		1,625,000		1,681,632
4.25%, 11/30/2023		2,549,000		2,733,928
Dominion Energy, Inc.
2.58%, 07/01/2020		5,717,000		5,733,934
				11,642,034
Oil, Gas & Consumable Fuels - 3.7%
Cheniere Energy Partners, LP
4.50%, 10/01/2029 (A)		1,735,000		1,765,362

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Chesapeake Energy Corp.
11.50%, 01/01/2025 (A) (C)		$   1,666,000		$   1,340,630
Citgo Holding, Inc.
9.25%, 08/01/2024 (A)		700,000		749,000
Energy Transfer Operating, LP
6.00%, 06/15/2048		4,199,000		4,837,549
EnLink Midstream Partners, LP
5.05%, 04/01/2045		1,095,000		821,250
EQM Midstream Partners, LP
6.50%, 07/15/2048		2,310,000		2,038,587
Exxon Mobil Corp.
3.04%, 03/01/2026		2,584,000		2,747,460
Lukoil International Finance BV
6.66%, 06/07/2022 (A)		1,000,000		1,096,800
Noble Energy, Inc.
3.25%, 10/15/2029		3,234,000		3,254,305
NuStar Logistics, LP
4.80%, 09/01/2020		1,250,000		1,259,375
5.63%, 04/28/2027		2,000,000		2,060,000
6.00%, 06/01/2026		350,000		368,270
Occidental Petroleum Corp.
4.30%, 08/15/2039		938,000		974,040
5.55%, 03/15/2026		5,870,000		6,784,386
ONEOK Partners, LP
4.90%, 03/15/2025		1,134,000		1,266,955
Petroleos Mexicanos
6.50%, 01/23/2029 (C)		4,757,000		5,070,962
6.84%, 01/23/2030 (A)		3,538,000		3,833,423
7.69%, 01/23/2050 (A)		1,593,000		1,750,070
Plains All American Pipeline, LP / PAA Finance Corp.
3.55%, 12/15/2029		3,739,000		3,718,252
Sabine Pass Liquefaction LLC
6.25%, 03/15/2022		4,532,000		4,865,556
Targa Resources Partners, LP / Targa Resources Partners Finance Corp.
5.13%, 02/01/2025		4,000,000		4,120,000
Western Midstream Operating, LP
4.50%, 03/01/2028		1,792,000		1,809,271
YPF SA
8.50%, 07/28/2025 (A)		2,242,000		2,057,035
				58,588,538
Paper & Forest Products - 0.1%
Celulosa Arauco y Constitucion SA
5.50%, 04/30/2049 (A) (C)		1,560,000		1,668,233
Pharmaceuticals - 1.1%
Allergan Finance LLC
3.25%, 10/01/2022 (G)		1,361,000		1,404,314
AstraZeneca PLC
2.38%, 06/12/2022		2,650,000		2,693,217
4.00%, 01/17/2029		3,089,000		3,511,211
Bausch Health Cos., Inc.
5.88%, 05/15/2023 (A)		149,000		150,304
6.13%, 04/15/2025 (A)		2,000,000		2,057,240
7.00%, 01/15/2028 (A)		617,000		668,297
Bayer US Finance II LLC
4.38%, 12/15/2028 (A)		2,041,000		2,296,965
Bristol-Myers Squibb Co.
3.20%, 06/15/2026 (A)		807,000		858,416
Merck & Co., Inc.
3.40%, 03/07/2029		1,505,000		1,663,733
Takeda Pharmaceutical Co., Ltd.
5.00%, 11/26/2028		1,170,000		1,394,565
				16,698,262

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Professional Services - 0.1%
Equifax, Inc.
2.60%, 12/01/2024		$   1,680,000		$   1,725,690
Road & Rail - 0.3%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (A)		3,369,000		3,645,966
Hertz Corp.
5.50%, 10/15/2024 (A) (C)		1,440,000		1,460,995
				5,106,961
Semiconductors & Semiconductor Equipment - 1.1%
Broadcom, Inc.
3.13%, 04/15/2021 (A)		5,000,000		5,071,967
KLA Corp.
4.10%, 03/15/2029		2,500,000		2,806,621
Lam Research Corp.
3.75%, 03/15/2026 (C)		1,283,000		1,402,995
Micron Technology, Inc.
4.64%, 02/06/2024		2,335,000		2,548,318
NXP BV / NXP Funding LLC / NXP USA, Inc.
4.30%, 06/18/2029 (A)		1,683,000		1,862,044
QUALCOMM, Inc.
3.25%, 05/20/2027		1,314,000		1,411,683
Sensata Technologies, Inc., Co.
4.38%, 02/15/2030 (A)		1,498,000		1,518,298
				16,621,926
Software - 0.2%
Adobe, Inc.
2.15%, 02/01/2027 (F)		2,095,000		2,123,560
PTC, Inc.
3.63%, 02/15/2025 (F)		846,000		853,402
				2,976,962
Technology Hardware, Storage & Peripherals - 0.9%
Apple, Inc.
2.85%, 02/23/2023		3,488,000		3,613,371
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (A)		3,601,000		4,205,001
Western Digital Corp.
4.75%, 02/15/2026 (C)		6,235,000		6,655,862
				14,474,234
Tobacco - 0.5%
Altria Group, Inc.
4.80%, 02/14/2029		1,634,000		1,851,951
BAT Capital Corp.
3.22%, 08/15/2024		1,554,000		1,615,540
4.76%, 09/06/2049		2,100,000		2,246,616
Imperial Brands Finance PLC
3.13%, 07/26/2024 (A)		2,211,000		2,263,991
Reynolds American, Inc.
7.25%, 06/15/2037		340,000		452,737
				8,430,835
Trading Companies & Distributors - 0.2%
Air Lease Corp.
2.25%, 01/15/2023		3,479,000		3,508,978
Transportation Infrastructure - 0.1%
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.45%, 07/01/2024 (A)		964,000		1,017,368

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Wireless Telecommunication Services - 0.9%
Crown Castle Towers LLC
3.22%, 05/15/2042 (A)		$   3,545,000		$   3,605,522
3.72%, 07/15/2043 (A)		371,000		387,004
Sprint Corp.
7.25%, 09/15/2021		2,450,000		2,569,438
7.88%, 09/15/2023 (C)		6,500,000		6,905,535
				13,467,499
Total Corporate Debt Securities (Cost $692,358,655)				721,954,798
FOREIGN GOVERNMENT OBLIGATIONS - 1.1%
Colombia - 0.1%
Colombia Government International Bond
4.50%, 01/28/2026		1,300,000		1,433,094
Costa Rica - 0.3%
Costa Rica Government International Bond
7.00%, 04/04/2044 (A)		4,350,000		4,608,825
Dominican Republic - 0.1%
Dominican Republic International Bond
5.50%, 01/27/2025 (E)		1,122,000		1,200,540
Ecuador - 0.1%
Ecuador Government International Bond
7.88%, 03/27/2025 (A)		1,920,000		1,641,600
Indonesia - 0.2%
Indonesia Government International Bond
4.75%, 01/08/2026 (A)		2,780,000		3,113,128
Mongolia - 0.0% (H)
Mongolia Government International Bond
5.63%, 05/01/2023 (A)		470,000		479,870
Oman - 0.1%
Oman Government International Bond
5.63%, 01/17/2028 (A)		1,625,000		1,681,056
Qatar - 0.2%
Qatar Government International Bond
3.88%, 04/23/2023 (A)		2,657,000		2,809,778
Saudi Arabia - 0.0% (H)
Saudi Arabia Government International Bond
2.38%, 10/26/2021 (A)		560,000		564,435
Total Foreign Government Obligations (Cost $17,106,869)				17,532,326
LOAN ASSIGNMENTS - 1.1%
Commercial Services & Supplies - 0.5%
Spin Holdco, Inc.
Term Loan B,
3-Month LIBOR + 3.25%, 5.09% (B), 11/14/2022		7,668,069		7,644,107

	Principal		Value
LOAN ASSIGNMENTS (continued)
Diversified Consumer Services - 0.2%
Pre-Paid Legal Services, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (B), 05/01/2025		$   2,866,391		$   2,879,527
Food & Staples Retailing - 0.1%
Albertsons LLC
Term Loan B7,
1-Month LIBOR + 2.75%, 4.40% (B), 11/17/2025		78,329		78,329
Term Loan B8,
1-Month LIBOR + 2.75%, 4.40% (B), 08/17/2026		535,958		536,724
Give & Go Prepared Foods Corp.
1st Lien Term Loan,
3-Month LIBOR + 4.25%, 6.19% (B), 07/29/2023		1,250,806		1,199,732
				1,814,785
Media - 0.3%
AVSC Holding Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.93% (B), 03/03/2025		985,658		985,658
2-Month LIBOR + 3.25%, 5.03% (B), 03/03/2025		981,044		981,044
3-Month LIBOR + 3.25%, 5.21% (B), 03/03/2025		50,008		50,008
Term Loan B,
3-Month LIBOR + 4.50%, 6.18% (B), 10/15/2026		3,000,000		3,007,500
				5,024,210
Total Loan Assignments (Cost $17,225,594)				17,362,629
MORTGAGE-BACKED SECURITIES - 16.3%
20 Times Square Trust
Series 2018-20TS, Class C,
3.20% (B), 05/15/2035 (A)		2,400,000		2,460,179
280 Park Avenue Mortgage Trust
Series 2017-280P, Class D,
1-Month LIBOR + 1.54%, 3.21% (B), 09/15/2034 (A)		3,000,000		3,005,681
AFN LLC
Series 2019-1A, Class A1,
3.78%, 05/20/2049 (A)		7,152,000		7,504,529
Alternative Loan Trust
Series 2005-14, Class 2A1,
1-Month LIBOR + 0.21%, 1.87% (B), 05/25/2035		742,894		712,795
Series 2005-14, Class 4A1,
1-Month LIBOR + 0.22%, 1.88% (B), 05/25/2035		1,502,565		1,423,512
Series 2006-OC1, Class 2A3A,
1-Month LIBOR + 0.32%, 1.98% (B), 03/25/2036		1,571,353		1,419,491

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
American Home Mortgage Assets Trust
Series 2007-2, Class A1,
1-Month LIBOR + 0.13%, 1.79% (B), 03/25/2047		$   532,490		$   492,182
Arroyo Mortgage Trust
Series 2018-1, Class A1,
3.76% (B), 04/25/2048 (A)		1,190,606		1,205,624
Ashford Hospitality Trust
Series 2018-ASHF, Class D,
1-Month LIBOR + 2.10%, 3.78% (B), 04/15/2035 (A)		3,988,000		3,989,223
Austin Fairmont Hotel Trust
Series 2019-FAIR, Class D,
1-Month LIBOR + 1.80%, 3.48% (B), 09/15/2032 (A)		5,000,000		5,009,534
BAMLL Commercial Mortgage Securities Trust
Series 2019-BPR, Class BNM,
3.47%, 11/05/2032 (A)		5,000,000		5,201,971
Series 2019-BPR, Class CNM,
3.84% (B), 11/05/2032 (A)		3,970,000		4,113,608
Banc of America Funding Trust
Series 2007-3, Class TA2,
1-Month LIBOR + 0.18%, 1.84% (B), 04/25/2037		309,112		258,760
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (A)		240,000		240,082
Series 2012-TFT, Class C,
3.58% (B), 06/05/2030 (A)		2,345,000		2,334,657
BBCMS Mortgage Trust
Series 2017-DELC, Class C,
1-Month LIBOR + 1.20%, 2.88% (B), 08/15/2036 (A)		2,130,000		2,124,632
Series 2017-DELC, Class D,
1-Month LIBOR + 1.70%, 3.38% (B), 08/15/2036 (A)		2,130,000		2,132,638
Series 2017-DELC, Class E,
1-Month LIBOR + 2.50%, 4.18% (B), 08/15/2036 (A)		1,890,000		1,894,712
Series 2018-TALL, Class C,
1-Month LIBOR + 1.12%, 2.80% (B), 03/15/2037 (A)		7,065,000		7,047,240
Series 2018-TALL, Class E,
1-Month LIBOR + 2.44%, 4.11% (B), 03/15/2037 (A)		2,570,000		2,586,984
BHMS Trust
Series 2018-ATLS, Class C,
1-Month LIBOR + 1.90%, 3.58% (B), 07/15/2035 (A)		4,065,000		4,064,946
BX Commercial Mortgage Trust
Series 2019-XL, Class D,
1-Month LIBOR + 1.45%, 3.13% (B), 10/15/2036 (A)		6,435,000		6,460,830
BX Trust
Series 2017-APPL, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2034 (A)		5,185,000		5,188,184

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
BX Trust (continued)
Series 2017-SLCT, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2034 (A)		$   1,687,713		$   1,687,689
Series 2018-GW, Class C,
1-Month LIBOR + 1.22%, 2.90% (B), 05/15/2035 (A)		1,900,000		1,899,402
BXP Trust
Series 2017-CQHP, Class D,
1-Month LIBOR + 2.00%, 3.68% (B), 11/15/2034 (A)		1,825,000		1,815,188
CGMS Commercial Mortgage Trust
Series 2017-MDRB, Class B,
1-Month LIBOR + 1.75%, 3.43% (B), 07/15/2030 (A)		2,200,000		2,197,814
CHL Mortgage Pass-Through Trust
Series 2005-11, Class 4A1,
1-Month LIBOR + 0.27%, 1.93% (B), 04/25/2035		183,707		181,042
Series 2006-3, Class 3A1,
1-Month LIBOR + 0.25%, 1.91% (B), 02/25/2036		307,491		284,094
CHT Mortgage Trust
Series 2017-CSMO, Class C,
1-Month LIBOR + 1.50%, 3.18% (B), 11/15/2036 (A)		9,000,000		9,008,355
Series 2017-CSMO, Class D,
1-Month LIBOR + 2.25%, 3.93% (B), 11/15/2036 (A)		5,750,000		5,757,152
Citigroup Commercial Mortgage Trust
Series 2019-PRM, Class C,
3.90%, 05/10/2036 (A)		2,380,000		2,494,603
Citigroup Mortgage Loan Trust
Series 2015-PS1, Class A1,
3.75% (B), 09/25/2042 (A)		1,247,932		1,277,314
Citigroup Mortgage Loan Trust, Inc.
Series 2014-A, Class A,
4.00% (B), 01/25/2035 (A)		95,265		98,917
Series 2015-A, Class A1,
3.50% (B), 06/25/2058 (A)		128,251		130,759
Colony Mortgage Capital, Ltd.
Series 2019-IKPR, Class C,
1-Month LIBOR + 1.68%, 3.35% (B), 11/15/2038 (A)		5,700,000		5,667,979
Commercial Mortgage Pass-Through Certificates Trust
Series 2012-LTRT, Class A2,
3.40%, 10/05/2030 (A)		2,225,000		2,268,335
Series 2012-LTRT, Class B,
3.80%, 10/05/2030 (A)		1,175,000		1,163,785
CORE Mortgage Trust
Series 2019-CORE, Class C,
1-Month LIBOR + 1.30%, 2.98% (B), 12/15/2031 (A)		7,369,000		7,368,988
CSMC Trust
Series 2014-11R, Class 17A1,
1-Month LIBOR + 0.15%, 1.94% (B), 12/27/2036 (A)		680,380		672,543
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class D,
4.10%, 12/10/2036 (A)		7,782,000		8,058,798
GS Mortgage Securities Corp. Trust
Series 2017-SLP, Class B,
3.77%, 10/10/2032 (A)		5,242,000		5,421,262

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
GS Mortgage Securities Corp. Trust (continued)
Series 2019-SOHO, Class C,
1-Month LIBOR + 1.30%, 2.98% (B), 06/15/2036 (A)		$   8,200,000		$   8,202,406
GS Mortgage Securities Trust
Series 2013-G1, Class A2,
3.56% (B), 04/10/2031 (A)		2,000,000		2,053,976
GSCG Trust
Series 2019-600C, Class B,
3.16%, 09/06/2034 (A)		1,660,000		1,692,960
Series 2019-600C, Class C,
3.46%, 09/06/2034 (A)		4,480,000		4,559,624
GSR Mortgage Loan Trust
Series 2007-OA1, Class 2A1,
1-Month LIBOR + 0.13%, 1.79% (B), 05/25/2037		213,154		130,466
HPLY Trust
Series 2019-HIT, Class C,
1-Month LIBOR + 1.60%, 3.28% (B), 11/15/2036 (A)		3,334,627		3,337,766
ILPT Trust
Series 2019-SURF, Class C,
4.44% (B), 02/11/2041 (A)		1,930,000		2,155,935
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.67% (B), 08/25/2037		811,288		700,536
InTown Hotel Portfolio Trust
Series 2018-STAY, Class C,
1-Month LIBOR + 1.25%, 2.93% (B), 01/15/2033 (A)		3,835,000		3,830,264
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2014-DSTY, Class C,
3.93% (B), 06/10/2027 (A)		2,000,000		1,762,732
MBRT
Series 2019-MBR, Class D,
1-Month LIBOR + 1.70%, 3.44% (B), 11/15/2036 (A)		3,033,000		3,034,817
Merrill Lynch Mortgage Investors Trust
Series 2006-A1, Class 1A1,
4.11% (B), 03/25/2036		1,271,953		1,025,578
MetLife Securitization Trust
Series 2019-1A, Class A1A,
3.75% (B), 04/25/2058 (A)		1,552,078		1,620,329
Mill City Mortgage Loan Trust
Series 2019-1, Class A1,
3.25% (B), 10/25/2069 (A)		9,275,016		9,548,265
Morgan Stanley Capital I Trust
Series 2018-SUN, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2035 (A)		2,015,000		2,014,993
Morgan Stanley Resecuritization Trust
Series 2014-R4, Class 4A,
3.93% (B), 11/21/2035 (A)		752,982		764,478
MSCG Trust
Series 2018-SELF, Class C,
1-Month LIBOR + 1.18%, 2.86% (B), 10/15/2037 (A)		1,375,000		1,374,999
Series 2018-SELF, Class D,
1-Month LIBOR + 1.65%, 3.33% (B), 10/15/2037 (A)		5,710,000		5,724,268

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
New Residential Mortgage Loan Trust
Series 2016-2A, Class A1,
3.75% (B), 11/26/2035 (A)		$   788,330		$   824,850
Series 2017-1A, Class A1,
4.00% (B), 02/25/2057 (A)		2,307,538		2,431,808
Series 2017-2A, Class A3,
4.00% (B), 03/25/2057 (A)		1,731,364		1,832,842
Series 2017-3A, Class A1,
4.00% (B), 04/25/2057 (A)		1,221,492		1,284,657
Series 2018-2A, Class A1,
4.50% (B), 02/25/2058 (A)		893,470		945,237
Series 2019-2A, Class A1,
4.25% (B), 12/25/2057 (A)		3,381,647		3,570,051
Series 2019-3A, Class A1A,
3.75% (B), 11/25/2058 (A)		8,701,028		9,095,283
Series 2019-4A, Class A1B,
3.50% (B), 12/25/2058 (A)		6,075,792		6,302,684
Series 2019-5A, Class A1B,
3.50% (B), 08/25/2059 (A)		9,838,623		10,131,228
Series 2019-6A, Class A1B,
3.50% (B), 09/25/2059 (A)		7,649,712		7,881,774
Series 2019-RPL2, Class A1,
3.25% (B), 02/25/2059 (A)		5,236,529		5,388,215
RALI Trust
Series 2006-QO1, Class 3A1,
1-Month LIBOR + 0.27%, 1.93% (B), 02/25/2046		3,700,728		2,636,761
Series 2006-QO2, Class A1,
1-Month LIBOR + 0.22%, 1.88% (B), 02/25/2046		98,104		35,108
Series 2007-QH5, Class AI1,
1-Month LIBOR + 0.21%, 1.87% (B), 06/25/2037		238,253		220,110
Residential Asset Securitization Trust
Series 2004-A4, Class A11,
5.50%, 08/25/2034		2,125,359		2,179,522
Tharaldson Hotel Portfolio Trust
Series 2018-THL, Class C,
1-Month LIBOR + 1.35%, 3.06% (B), 11/11/2034 (A)		1,405,489		1,406,333
Towd Point Mortgage Trust
Series 2019-4, Class A1,
2.90% (B), 10/25/2059 (A)		12,582,674		12,928,470
VNDO Mortgage Trust
Series 2012-6AVE, Class E,
3.45% (B), 11/15/2030 (A)		4,000,000		4,070,258
Total Mortgage-Backed Securities (Cost $251,444,262)				255,025,596
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.4%
California - 0.4%
State of California, General Obligation Unlimited
7.30%, 10/01/2039		1,400,000		2,238,376
7.95%, 03/01/2036		4,345,000		4,366,160
Total Municipal Government Obligations (Cost $6,549,556)				6,604,536
U.S. GOVERNMENT AGENCY OBLIGATIONS - 5.1%
Federal Home Loan Mortgage Corp., Interest Only STRIPS
5.00%, 08/01/2035		818,956		168,918

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Uniform Mortgage-Backed Security
3.00%, TBA (F)		$   32,687,000		$   33,402,078
3.50%, TBA (F)		44,844,000		46,281,003
Total U.S. Government Agency Obligations (Cost $80,082,658)				79,851,999
U.S. GOVERNMENT OBLIGATIONS - 13.9%
U.S. Treasury - 13.0%
U.S. Treasury Bond
2.25%, 08/15/2046		18,993,000		19,846,201
2.50%, 05/15/2046		9,450,000		10,358,824
2.75%, 08/15/2042 - 11/15/2047		30,576,000		35,170,133
3.00%, 08/15/2048 - 02/15/2049		13,727,000		16,685,217
3.13%, 05/15/2048		8,143,000		10,091,912
3.50%, 02/15/2039		6,820,000		8,670,724
4.50%, 02/15/2036		13,885,000		19,313,709
6.25%, 05/15/2030 (C)		7,185,000		10,421,618
U.S. Treasury Note
1.63%, 08/15/2029		7,690,000		7,773,239
2.00%, 02/28/2021		7,477,000		7,517,014
2.25%, 11/15/2027		1,426,800		1,510,123
2.38%, 02/29/2024		2,953,000		3,075,849
2.50%, 01/31/2024		1,060,700		1,109,302
2.63%, 02/15/2029		9,707,500		10,627,816
2.88%, 10/31/2023 - 05/15/2049		23,979,200		27,588,401
3.13%, 11/15/2028		12,090,900		13,709,475
				203,469,557
U.S. Treasury Inflation-Protected Securities - 0.9%
U.S. Treasury Inflation-Indexed Bond
2.50%, 01/15/2029		11,860,419		14,640,094
Total U.S. Government Obligations (Cost $197,668,146)				218,109,651
	Shares		Value
PREFERRED STOCKS - 0.5%
Banks - 0.2%
CoBank ACB,
Series F, Fixed until 10/01/2022, 6.25% (B) (I)		14,300		1,537,250
GMAC Capital Trust I,
Series 2, 3-Month LIBOR + 5.79%, 7.69% (B)		74,000		1,972,100
				3,509,350
Diversified Telecommunication Services - 0.3%
Centaur Funding Corp.,
Series B, 9.08% (A) (I)		3,533		3,635,457
Total Preferred Stocks (Cost $7,588,912)				7,144,807
	Principal		Value
COMMERCIAL PAPER - 3.6%
Banks - 0.3%
Banco Santander SA
2.19%, 02/19/2020		$  4,700,000		4,694,948
Diversified Financial Services - 3.3%
Anglesea Funding PLC
1.89%, 02/03/2020		4,700,000		4,699,514

	Principal		Value
COMMERCIAL PAPER (continued)
Diversified Financial Services (continued)
Atlantic Asset Securitization LLC
1.86%, 02/05/2020		$   5,000,000		$   4,998,983
Chariot Funding LLC
1.87%, 03/03/2020		500,000		499,208
Collateralized Commercial Paper Flex Co. LLC
1.99%, 03/19/2020		4,565,000		4,553,378
Jupiter Securitization Co. LLC
1.78%, 04/13/2020		3,000,000		2,989,500
Kells Funding LLC
1.73%, 04/21/2020		7,100,000		7,073,178
Liberty Funding LLC
1.85%, 04/01/2020		3,000,000		2,990,900
Mont Blanc Capital Corp.
1.91%, 02/12/2020		6,400,000		6,396,343
Sheffield Receivables Corp.
1.91%, 02/19/2020		8,220,000		8,212,314
Starbird Funding Corp.
1.88%, 02/13/2020		9,400,000		9,394,204
				51,807,522
Total Commercial Paper (Cost $56,502,470)				56,502,470
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 1.5%
U.S. Treasury Bill
1.54% (J), 02/06/2020 - 04/02/2020		15,525,000		15,491,996
1.55% (J), 03/12/2020		7,902,000		7,888,668
Total Short-Term U.S. Government Obligations (Cost $23,380,664)				23,380,664
	Shares		Value
OTHER INVESTMENT COMPANY - 2.4%
Securities Lending Collateral - 2.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (J)		37,317,671		37,317,671
Total Other Investment Company (Cost $37,317,671)				37,317,671
	Principal		Value
REPURCHASE AGREEMENT - 2.6%
Fixed Income Clearing Corp., 0.85% (J), dated 01/31/2020, to be repurchased at $40,799,703 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $41,617,612.		$  40,796,813		40,796,813
Total Repurchase Agreement (Cost $40,796,813)				40,796,813
Total Investments (Cost $1,628,496,630)				1,686,095,987
Net Other Assets (Liabilities) - (7.6)%				(118,905,686	)
Net Assets - 100.0%				$  1,567,190,301

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts

Description

Number of Contracts

Expiration Date

Notional Amount

Value

Unrealized Appreciation

Unrealized Depreciation

U.S. Treasury Ultra Bond

1

03/20/2020

$    184,160

$    193,688

$    9,528

$    —

SECURITY VALUATION:

Valuation Inputs ^(K)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Securities	$	—	$	204,512,027	$	—	$	204,512,027
Corporate Debt Securities		—		721,954,798		—		721,954,798
Foreign Government Obligations		—		17,532,326		—		17,532,326
Loan Assignments		—		17,362,629		—		17,362,629
Mortgage-Backed Securities		—		255,025,596		—		255,025,596
Municipal Government Obligations		—		6,604,536		—		6,604,536
U.S. Government Agency Obligations		—		79,851,999		—		79,851,999
U.S. Government Obligations		—		218,109,651		—		218,109,651
Preferred Stocks		1,972,100		5,172,707		—		7,144,807
Commercial Paper		—		56,502,470		—		56,502,470
Short-Term U.S. Government Obligations		—		23,380,664		—		23,380,664
Other Investment Company		37,317,671		—		—		37,317,671
Repurchase Agreement		—		40,796,813		—		40,796,813
Total Investments	$	39,289,771	$	1,646,806,216	$	—	$	1,686,095,987
Other Financial Instruments
Futures Contracts (L)	$	9,528	$	—	$	—	$	9,528
Total Other Financial Instruments	$	9,528	$	—	$	—	$	9,528

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $742,883,239, representing 47.4% of the Fund’s net assets.
(B)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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 $36,557,289. 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)	Perpetual maturity. The date displayed is the next call date.
(E)	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, 2020, the total value of Regulation S securities is $3,928,858, representing 0.3% of the Fund’s net assets.
(F)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(G)	Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Corporate Debt Securities	Century Communities, Inc. 6.75%, 06/01/2027		05/09/2019	$	1,319,000	$	1,431,115		0.1	%
Corporate Debt Securities	Allergan Finance LLC 3.25%, 10/01/2022		12/16/2013 - 03/22/2019		1,303,901		1,404,314		0.1
Total				$	2,622,901	$	2,835,429		0.2	%

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(H)	Percentage rounds to less than 0.1% or (0.1)%.
(I)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $5,172,707, representing 0.3% of the Fund’s net assets.
(J)	Rates disclosed reflect the yields at January 31, 2020.
(K)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(L)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Capital Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 95.9%
Biotechnology - 1.0%
Alnylam Pharmaceuticals, Inc. (A)		119,478		$  13,714,880
Exact Sciences Corp. (A)		8,768		817,879
Moderna, Inc. (A) (B)		385,422		7,905,005
				22,437,764
Capital Markets - 0.1%
S&P Global, Inc.		10,224		3,003,096
Entertainment - 6.4%
Roku, Inc. (A)		357,917		43,290,061
Spotify Technology SA (A)		671,440		94,874,472
				138,164,533
Health Care Equipment & Supplies - 8.8%
Danaher Corp.		13,263		2,133,619
DexCom, Inc. (A)		339,483		81,730,532
Intuitive Surgical, Inc. (A)		189,217		105,919,892
				189,784,043
Health Care Providers & Services - 2.2%
Convetrus, Inc. (A) (B)		1,013,683		12,468,301
Guardant Health, Inc. (A)		446,012		33,914,752
				46,383,053
Health Care Technology - 3.5%
Veeva Systems, Inc., Class A (A)		511,846		75,041,742
Interactive Media & Services - 10.4%
Alphabet, Inc., Class A (A)		4,215		6,039,168
Alphabet, Inc., Class C (A)		18,320		26,275,094
Facebook, Inc., Class A (A)		158,146		31,931,259
Snap, Inc., Class A (A)		2,124,604		39,050,221
Twitter, Inc. (A)		2,689,100		87,341,968
Zillow Group, Inc., Class C (A) (B)		731,704		33,812,042
				224,449,752
Internet & Direct Marketing Retail - 12.7%
Amazon.com, Inc. (A)		69,783		140,174,508
Chewy, Inc., Class A (A) (B)		1,092,880		28,972,249
Farfetch, Ltd., Class A (A) (B)		1,840,958		22,459,687
MercadoLibre, Inc. (A)		89,185		59,129,655
Wayfair, Inc., Class A (A) (B)		240,650		22,548,905
				273,285,004
IT Services - 19.0%
Adyen NV (A) (C)		46,498		42,727,333
MongoDB, Inc. (A) (B)		252,001		41,305,484
Okta, Inc. (A)		700,764		89,732,830
Shopify, Inc., Class A (A)		252,301		117,486,484
Square, Inc., Class A (A)		486,773		36,357,075
Twilio, Inc., Class A (A) (B)		654,272		81,352,180
				408,961,386
Leisure Products - 0.0% (D)
Peloton Interactive, Inc., Class A (A)		13,933		450,872
Life Sciences Tools & Services - 4.2%
Illumina, Inc. (A)		309,502		89,777,245

	Shares		Value
COMMON STOCKS (continued)
Personal Products - 0.2%
Estee Lauder Cos., Inc., Class A		18,207		$   3,553,278
Road & Rail - 5.8%
Uber Technologies, Inc. (A)		3,408,834		123,706,586
Union Pacific Corp.		12,775		2,292,090
				125,998,676
Software - 20.6%
Atlassian Corp. PLC, Class A (A)		252,604		37,132,788
Coupa Software, Inc. (A)		391,908		63,155,974
ServiceNow, Inc. (A)		289,658		97,971,025
Slack Technologies, Inc., Class A (A)		3,272,325		67,835,297
Trade Desk, Inc., Class A (A)		246,318		66,303,879
Workday, Inc., Class A (A)		408,998		75,513,301
Zoom Video Communications, Inc., Class A (A)		472,159		36,025,732
				443,937,996
Specialty Retail - 1.0%
Carvana Co. (A) (B)		273,682		21,689,299
Total Common Stocks (Cost $1,585,056,072)				2,066,917,739
OTHER INVESTMENT COMPANY - 5.0%
Securities Lending Collateral - 5.0%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (E)		107,710,820		107,710,820
Total Other Investment Company (Cost $107,710,820)				107,710,820
	Principal		Value
REPURCHASE AGREEMENT - 3.0%
Fixed Income Clearing Corp., 0.85% (E), dated 01/31/2020, to be repurchased at $65,125,978 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $66,425,173.		$  65,121,365		65,121,365
Total Repurchase Agreement (Cost $65,121,365)				65,121,365
Total Investments Excluding Options Purchased (Cost $1,757,888,257)				2,239,749,924
Total Options Purchased - 0.1% (Cost $6,082,473)				2,796,756
Total Investments (Cost $1,763,970,730)				2,242,546,680
Net Other Assets (Liabilities) - (4.0)%				(86,456,031	)
Net Assets - 100.0%				$  2,156,090,649

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Capital Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(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

RBS

USD    7.75

01/07/2021

USD    479,776,728

$

2,095,185

$

1,981,958

Put - USD vs. CNH

RBS

USD    7.85

06/16/2020

USD    388,428,678

2,004,292

330,164

Put - USD vs. CNH

RBS

USD    8.09

09/21/2020

USD    367,425,569

1,982,996

484,634

Total

$

6,082,473

$

2,796,756

SECURITY VALUATION:

Valuation Inputs ^(F)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	2,024,190,406	$	42,727,333	$	—	$	2,066,917,739
Other Investment Company		107,710,820		—		—		107,710,820
Repurchase Agreement		—		65,121,365		—		65,121,365
Over-the-Counter Foreign Exchange Options Purchased		—		2,796,756		—		2,796,756
Total Investments	$	2,131,901,226	$	110,645,454	$	—	$	2,242,546,680

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $105,266,104. 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.
(C)	Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the security is deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the value of the 144A security is $42,727,333, representing 2.0% of the Fund’s net assets.
(D)	Percentage rounds to less than 0.1% or (0.1)%.
(E)	Rates disclosed reflect the yields at January 31, 2020.
(F)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

CURRENCY ABBREVIATIONS:

CNH	Chinese Yuan Renminbi (offshore)
USD	United States Dollar

COUNTERPARTY ABBREVIATION:

RBS Royal Bank of Scotland PLC

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica ClearTrack^® 2015

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.1%
International Equity Funds - 11.7%
Vanguard FTSE Developed Markets ETF		86,428		$  3,693,933
Vanguard FTSE Emerging Markets ETF (A)		17,142		720,135
				4,414,068
International Fixed Income Fund - 5.6%
Vanguard Total International Bond ETF (A)		36,608		2,110,451
U.S. Equity Funds - 33.4%
Schwab U.S. Large-Cap ETF (A)		148,233		11,403,565
Schwab U.S. Small-Cap ETF (A)		16,481		1,209,211
				12,612,776
U.S. Fixed Income Funds - 48.4%
iShares Core U.S. Aggregate Bond ETF		127,584		14,627,506
iShares TIPS Bond ETF		19,340		2,302,620
Xtrackers USD High Yield Corporate Bond ETF		26,317		1,319,008
				18,249,134
Total Exchange-Traded Funds (Cost $32,275,359)				37,386,429
OTHER INVESTMENT COMPANY - 11.8%
Securities Lending Collateral - 11.8%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		4,459,200		4,459,200
Total Other Investment Company (Cost $4,459,200)				4,459,200

	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $377,915 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $390,375.		$  377,888		$   377,888
Total Repurchase Agreement (Cost $377,888)				377,888
Total Investments (Cost $37,112,447)				42,223,517
Net Other Assets (Liabilities) - (11.9)%				(4,490,658	)
Net Assets - 100.0%				$  37,732,859

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	37,386,429	$	—	$	—	$	37,386,429
Other Investment Company		4,459,200		—		—		4,459,200
Repurchase Agreement		—		377,888		—		377,888
Total Investments	$	41,845,629	$	377,888	$	—	$	42,223,517

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 $4,367,074. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2020

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.1%
International Equity Funds - 13.9%
Vanguard FTSE Developed Markets ETF		141,148		$  6,032,665
Vanguard FTSE Emerging Markets ETF (A)		27,583		1,158,762
				7,191,427
International Fixed Income Fund - 4.7%
Vanguard Total International Bond ETF		42,321		2,439,806
U.S. Equity Funds - 36.7%
Schwab U.S. Large-Cap ETF		225,157		17,321,328
Schwab U.S. Small-Cap ETF		22,063		1,618,762
				18,940,090
U.S. Fixed Income Funds - 43.8%
iShares Core U.S. Aggregate Bond ETF		162,545		18,635,784
iShares TIPS Bond ETF		22,072		2,627,893
Xtrackers USD High Yield Corporate Bond ETF		27,468		1,376,696
				22,640,373
Total Exchange-Traded Funds (Cost $44,130,428)				51,211,696
OTHER INVESTMENT COMPANY - 2.3%
Securities Lending Collateral - 2.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		1,174,201		1,174,201
Total Other Investment Company (Cost $1,174,201)				1,174,201

	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $502,183 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $513,652.		$  502,148		$   502,148
Total Repurchase Agreement (Cost $502,148)				502,148
Total Investments (Cost $45,806,777)				52,888,045
Net Other Assets (Liabilities) - (2.4)%				(1,232,481	)
Net Assets - 100.0%				$  51,655,564

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	51,211,696	$	—	$	—	$	51,211,696
Other Investment Company		1,174,201		—		—		1,174,201
Repurchase Agreement		—		502,148		—		502,148
Total Investments	$	52,385,897	$	502,148	$	—	$	52,888,045

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of the security is on loan. The value of the security on loan is $1,147,167. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(B)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2025

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.5%
International Equity Funds - 16.5%
Vanguard FTSE Developed Markets ETF		249,053		$  10,644,525
Vanguard FTSE Emerging Markets ETF (A)		46,457		1,951,659
				12,596,184
International Fixed Income Fund - 2.9%
Vanguard Total International Bond ETF		38,039		2,192,948
U.S. Equity Funds - 39.7%
Schwab U.S. Large-Cap ETF (A)		357,019		27,465,472
Schwab U.S. REIT ETF (A)		9,579		441,975
Schwab U.S. Small-Cap ETF		31,026		2,276,377
				30,183,824
U.S. Fixed Income Funds - 40.4%
iShares Core U.S. Aggregate Bond ETF		236,247		27,085,719
iShares TIPS Bond ETF		19,170		2,282,380
Xtrackers USD High Yield Corporate Bond ETF		27,256		1,366,071
				30,734,170
Total Exchange-Traded Funds (Cost $64,180,765)				75,707,126
OTHER INVESTMENT COMPANY - 3.4%
Securities Lending Collateral - 3.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		2,549,485		2,549,485
Total Other Investment Company (Cost $2,549,485)				2,549,485

	Principal		Value
REPURCHASE AGREEMENT - 0.6%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $464,771 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $477,696.		$  464,738		$   464,738
Total Repurchase Agreement (Cost $464,738)				464,738
Total Investments (Cost $67,194,988)				78,721,349
Net Other Assets (Liabilities) - (3.5)%				(2,646,662	)
Net Assets - 100.0%				$  76,074,687

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	75,707,126	$	—	$	—	$	75,707,126
Other Investment Company		2,549,485		—		—		2,549,485
Repurchase Agreement		—		464,738		—		464,738
Total Investments	$	78,256,611	$	464,738	$	—	$	78,721,349

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 $2,490,958. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2030

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.3%
International Equity Funds - 19.1%
Vanguard FTSE Developed Markets ETF (A)		219,914		$  9,399,124
Vanguard FTSE Emerging Markets ETF (A)		41,896		1,760,051
				11,159,175
International Fixed Income Fund - 1.9%
Vanguard Total International Bond ETF (A)		19,115		1,101,980
U.S. Equity Funds - 45.1%
Schwab U.S. Large-Cap ETF (A)		312,528		24,042,779
Schwab U.S. REIT ETF (A)		8,951		412,999
Schwab U.S. Small-Cap ETF		26,514		1,945,332
				26,401,110
U.S. Fixed Income Funds - 33.2%
iShares Core U.S. Aggregate Bond ETF		154,976		17,767,999
iShares TIPS Bond ETF		9,549		1,136,904
Xtrackers USD High Yield Corporate Bond ETF		10,628		532,675
				19,437,578
Total Exchange-Traded Funds (Cost $47,979,861)				58,099,843
OTHER INVESTMENT COMPANY - 9.2%
Securities Lending Collateral - 9.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		5,386,028		5,386,028
Total Other Investment Company (Cost $5,386,028)				5,386,028

	Principal		Value
REPURCHASE AGREEMENT - 0.8%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $467,456 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $477,696.		$  467,423		$   467,423
Total Repurchase Agreement (Cost $467,423)				467,423
Total Investments (Cost $53,833,312)				63,953,294
Net Other Assets (Liabilities) - (9.3)%				(5,424,970	)
Net Assets - 100.0%				$  58,528,324

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	58,099,843	$	—	$	—	$	58,099,843
Other Investment Company		5,386,028		—		—		5,386,028
Repurchase Agreement		—		467,423		—		467,423
Total Investments	$	63,485,871	$	467,423	$	—	$	63,953,294

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 $5,270,024. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2035

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 98.8%
International Equity Funds - 21.4%
Vanguard FTSE Developed Markets ETF		250,895		$  10,723,252
Vanguard FTSE Emerging Markets ETF (A)		49,907		2,096,593
				12,819,845
International Fixed Income Fund - 1.4%
Vanguard Total International Bond ETF		14,532		837,770
U.S. Equity Funds - 51.0%
Schwab U.S. Large-Cap ETF		361,531		27,812,580
Schwab U.S. REIT ETF (A)		11,475		529,456
Schwab U.S. Small-Cap ETF		30,272		2,221,057
				30,563,093
U.S. Fixed Income Fund - 25.0%
iShares Core U.S. Aggregate Bond ETF		130,798		14,995,991
Total Exchange-Traded Funds (Cost $47,348,939)				59,216,699
OTHER INVESTMENT COMPANY - 1.0%
Securities Lending Collateral - 1.0%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		574,342		574,342
Total Other Investment Company (Cost $574,342)				574,342

	Principal		Value
REPURCHASE AGREEMENT - 1.2%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $745,087 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $760,204.		$  745,034		$   745,034
Total Repurchase Agreement (Cost $745,034)				745,034
Total Investments (Cost $48,668,315)				60,536,075
Net Other Assets (Liabilities) - (1.0)%				(628,925	)
Net Assets - 100.0%				$  59,907,150

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	59,216,699	$	—	$	—	$	59,216,699
Other Investment Company		574,342		—		—		574,342
Repurchase Agreement		—		745,034		—		745,034
Total Investments	$	59,791,041	$	745,034	$	—	$	60,536,075

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 $560,867. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2040

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.1%
International Equity Funds - 23.1%
Vanguard FTSE Developed Markets ETF		245,300		$  10,484,122
Vanguard FTSE Emerging Markets ETF (A)		47,119		1,979,469
				12,463,591
International Fixed Income Fund - 0.9%
Vanguard Total International Bond ETF		8,606		496,136
U.S. Equity Funds - 55.1%
Schwab U.S. Large-Cap ETF		352,223		27,096,516
Schwab U.S. REIT ETF (A)		11,967		552,157
Schwab U.S. Small-Cap ETF		28,346		2,079,746
				29,728,419
U.S. Fixed Income Fund - 20.0%
iShares Core U.S. Aggregate Bond ETF		93,919		10,767,813
Total Exchange-Traded Funds (Cost $42,335,710)				53,455,959
OTHER INVESTMENT COMPANY - 4.8%
Securities Lending Collateral - 4.8%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		2,565,592		2,565,592
Total Other Investment Company (Cost $2,565,592)				2,565,592

	Principal		Value
REPURCHASE AGREEMENT - 0.9%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $502,949 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $513,652.		$  502,913		$   502,913
Total Repurchase Agreement (Cost $502,913)				502,913
Total Investments (Cost $45,404,215)				56,524,464
Net Other Assets (Liabilities) - (4.8)%				(2,611,391	)
Net Assets - 100.0%				$  53,913,073

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	53,455,959	$	—	$	—	$	53,455,959
Other Investment Company		2,565,592		—		—		2,565,592
Repurchase Agreement		—		502,913		—		502,913
Total Investments	$	56,021,551	$	502,913	$	—	$	56,524,464

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 $2,506,261. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2045

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.0%
International Equity Funds - 26.3%
Vanguard FTSE Developed Markets ETF		184,922		$  7,903,566
Vanguard FTSE Emerging Markets ETF (A)		34,248		1,438,759
				9,342,325
U.S. Equity Funds - 63.2%
Schwab U.S. Large-Cap ETF (A)		265,759		20,444,840
Schwab U.S. REIT ETF (A)		8,613		397,403
Schwab U.S. Small-Cap ETF (A)		21,092		1,547,520
				22,389,763
U.S. Fixed Income Fund - 9.5%
iShares Core U.S. Aggregate Bond ETF		29,423		3,373,347
Total Exchange-Traded Funds (Cost $26,946,657)				35,105,435
OTHER INVESTMENT COMPANY - 13.7%
Securities Lending Collateral - 13.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		4,850,294		4,850,294
Total Other Investment Company (Cost $4,850,294)				4,850,294

	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $347,230 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $354,420.		$  347,206		$   347,206
Total Repurchase Agreement (Cost $347,206)				347,206
Total Investments (Cost $32,144,157)				40,302,935
Net Other Assets (Liabilities) - (13.7)%				(4,871,556	)
Net Assets - 100.0%				$  35,431,379

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	35,105,435	$	—	$	—	$	35,105,435
Other Investment Company		4,850,294		—		—		4,850,294
Repurchase Agreement		—		347,206		—		347,206
Total Investments	$	39,955,729	$	347,206	$	—	$	40,302,935

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 $4,745,135. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2050

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.5%
International Equity Funds - 28.6%
Vanguard FTSE Developed Markets ETF		160,764		$  6,871,053
Vanguard FTSE Emerging Markets ETF (A)		28,892		1,213,753
				8,084,806
U.S. Equity Funds - 64.8%
Schwab U.S. Large-Cap ETF		219,298		16,870,595
Schwab U.S. REIT ETF (A)		7,681		354,402
Schwab U.S. Small-Cap ETF (A)		15,078		1,106,273
				18,331,270
U.S. Fixed Income Fund - 6.1%
iShares Core U.S. Aggregate Bond ETF		14,986		1,718,145
Total Exchange-Traded Funds (Cost $21,521,619)				28,134,221
OTHER INVESTMENT COMPANY - 6.6%
Securities Lending Collateral - 6.6%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		1,870,718		1,870,718
Total Other Investment Company (Cost $1,870,718)				1,870,718

	Principal		Value
REPURCHASE AGREEMENT - 0.6%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $183,683 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $190,051.		$  183,669		$   183,669
Total Repurchase Agreement (Cost $183,669)				183,669
Total Investments (Cost $23,576,006)				30,188,608
Net Other Assets (Liabilities) - (6.7)%				(1,891,571	)
Net Assets - 100.0%				$  28,297,037

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	28,134,221	$	—	$	—	$	28,134,221
Other Investment Company		1,870,718		—		—		1,870,718
Repurchase Agreement		—		183,669		—		183,669
Total Investments	$	30,004,939	$	183,669	$	—	$	30,188,608

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 $1,827,870. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2055

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 100.0%
International Equity Funds - 29.0%
Vanguard FTSE Developed Markets ETF		3,814		$  163,010
Vanguard FTSE Emerging Markets ETF (A)		703		29,533
				192,543
U.S. Equity Funds - 64.4%
Schwab U.S. Large-Cap ETF (A)		5,103		392,574
Schwab U.S. REIT ETF (A)		184		8,490
Schwab U.S. Small-Cap ETF (A)		352		25,826
				426,890
U.S. Fixed Income Fund - 6.6%
iShares Core U.S. Aggregate Bond ETF		383		43,911
Total Exchange-Traded Funds (Cost $583,278)				663,344

	Shares		Value
OTHER INVESTMENT COMPANY - 28.5%
Securities Lending Collateral - 28.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		189,430		$   189,430
Total Other Investment Company (Cost $189,430)				189,430
Total Investments (Cost $772,708)				852,774
Net Other Assets (Liabilities) - (28.5)%				(189,162	)
Net Assets - 100.0%				$  663,612

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	663,344	$	—	$	—	$	663,344
Other Investment Company		189,430		—		—		189,430
Total Investments	$	852,774	$	—	$	—	$	852,774

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 $185,536. 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)	Rate disclosed reflects the yield at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® 2060

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 100.0%
International Equity Funds - 29.0%
Vanguard FTSE Developed Markets ETF (A)		3,721		$  159,035
Vanguard FTSE Emerging Markets ETF (A)		687		28,861
				187,896
U.S. Equity Funds - 64.4%
Schwab U.S. Large-Cap ETF (A)		4,979		383,035
Schwab U.S. REIT ETF (A)		178		8,213
Schwab U.S. Small-Cap ETF		344		25,239
				416,487
U.S. Fixed Income Fund - 6.6%
iShares Core U.S. Aggregate Bond ETF (A)		374		42,879
Total Exchange-Traded Funds (Cost $568,055)				647,262

	Shares		Value
OTHER INVESTMENT COMPANY - 28.6%
Securities Lending Collateral - 28.6%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		184,856		$   184,856
Total Other Investment Company (Cost $184,856)				184,856
Total Investments (Cost $752,911)				832,118
Net Other Assets (Liabilities) - (28.6)%				(185,221	)
Net Assets - 100.0%				$  646,897

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	647,262	$	—	$	—	$	647,262
Other Investment Company		184,856		—		—		184,856
Total Investments	$	832,118	$	—	$	—	$	832,118

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 $180,915. 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)	Rate disclosed reflects the yield at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica ClearTrack^® Retirement Income

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 99.6%
International Equity Funds - 5.6%
Vanguard FTSE Developed Markets ETF		67,671		$  2,892,259
Vanguard FTSE Emerging Markets ETF (A)		15,508		651,491
				3,543,750
International Fixed Income Fund - 9.4%
Vanguard Total International Bond ETF (A)		103,902		5,989,950
U.S. Equity Funds - 26.3%
Schwab U.S. Large-Cap ETF		192,445		14,804,794
Schwab U.S. Small-Cap ETF (A)		26,945		1,976,954
				16,781,748
U.S. Fixed Income Funds - 58.3%
iShares Core U.S. Aggregate Bond ETF		254,997		29,235,406
iShares TIPS Bond ETF		37,804		4,500,944
Xtrackers USD High Yield Corporate Bond ETF		69,303		3,473,467
				37,209,817
Total Exchange-Traded Funds (Cost $57,796,937)				63,525,265
OTHER INVESTMENT COMPANY - 2.4%
Securities Lending Collateral - 2.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		1,544,779		1,544,779
Total Other Investment Company (Cost $1,544,779)				1,544,779

	Principal		Value
REPURCHASE AGREEMENT - 0.5%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $346,326 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $356,577.		$  346,302		$   346,302
Total Repurchase Agreement (Cost $346,302)				346,302
Total Investments (Cost $59,688,018)				65,416,346
Net Other Assets (Liabilities) - (2.5)%				(1,593,831	)
Net Assets - 100.0%				$  63,822,515

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	63,525,265	$	—	$	—	$	63,525,265
Other Investment Company		1,544,779		—		—		1,544,779
Repurchase Agreement		—		346,302		—		346,302
Total Investments	$	65,070,044	$	346,302	$	—	$	65,416,346

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 $1,509,611. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Core Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 13.4%
ABFC Trust
Series 2005-AQ1, Class A4,
4.70% (A), 01/25/2034		$  110,068		$  111,759
Academic Loan Funding Trust
Series 2013-1A, Class A,
1-Month LIBOR + 0.80%, 2.46% (A), 12/26/2044 (B)		466,314		461,334
American Credit Acceptance Receivables Trust
Series 2016-3, Class C,
4.26%, 08/12/2022 (B)		399,215		400,441
Series 2018-2, Class B,
3.46%, 08/10/2022 (B)		210,285		210,361
American Homes 4 Rent Trust
Series 2014-SFR2, Class A,
3.79%, 10/17/2036 (B)		2,013,592		2,141,287
Series 2014-SFR2, Class E,
6.23%, 10/17/2036 (B)		200,000		224,482
Series 2014-SFR3, Class D,
5.04%, 12/17/2036 (B)		270,000		293,084
Series 2014-SFR3, Class E,
6.42%, 12/17/2036 (B)		725,000		817,863
Series 2015-SFR1, Class A,
3.47%, 04/17/2052 (B)		913,254		961,576
Series 2015-SFR1, Class D,
4.41%, 04/17/2052 (B)		1,800,000		1,913,525
Series 2015-SFR1, Class E,
5.64%, 04/17/2052 (B)		825,000		913,038
Series 2015-SFR2, Class E,
6.07%, 10/17/2052 (B)		1,155,000		1,294,667
American Tower Trust #1
Series 2013-2A, Class 2A,
3.07%, 03/15/2048 (B)		400,000		409,341
AmeriCredit Automobile Receivables Trust
Series 2016-4, Class B,
1.83%, 12/08/2021		335,655		335,651
Series 2017-1, Class B,
2.30%, 02/18/2022		379,979		380,442
Series 2017-1, Class C,
2.71%, 08/18/2022		218,000		219,916
Series 2017-1, Class D,
3.13%, 01/18/2023		489,000		497,232
B2R Mortgage Trust
Series 2015-2, Class A,
3.34%, 11/15/2048 (B)		305,217		306,074
Series 2016-1, Class A,
2.57%, 06/15/2049 (B)		855,413		856,638
Business Jet Securities LLC
Series 2018-1, Class A,
4.34%, 02/15/2033 (B)		815,294		830,479
Series 2018-2, Class A,
4.45%, 06/15/2033 (B)		1,284,670		1,317,147
Series 2019-1, Class A,
4.21%, 07/15/2034 (B)		2,567,196		2,644,653
BXG Receivables Note Trust
Series 2012-A, Class A,
2.66%, 12/02/2027 (B)		81,189		81,184
Cabela’s Credit Card Master Note Trust
Series 2015-2, Class A1,
2.25%, 07/17/2023		185,000		185,438

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Camillo Trust
Series 2016-SFR1,
5.00%, 12/05/2023 (C) (D)		$   1,868,492		$   1,864,405
Capital Auto Receivables Asset Trust
Series 2018-1, Class A3,
2.79%, 01/20/2022 (B)		1,534,648		1,538,920
Carvana Auto Receivables Trust
Series 2019-3A, Class D,
3.04%, 04/15/2025 (B)		2,770,000		2,807,511
Chase Funding Trust
Series 2003-2, Class 2A2,
1-Month LIBOR + 0.56%, 2.22% (A), 02/25/2033		419,129		405,803
Series 2003-6, Class 1A5,
5.03% (A), 11/25/2034		188,989		198,746
CIG Auto Receivables Trust
Series 2017-1A, Class A,
2.71%, 05/15/2023 (B)		102,864		103,014
Citigroup Global Markets Mortgage Securities VII, Inc.
Series 2003-UP1, Class A,
3.95% (A), 04/25/2032 (B)		443		437
Colony American Finance, Ltd.
Series 2016-2, Class A,
2.55%, 11/15/2048 (B)		436,956		437,662
COOF Securitization Trust, Ltd., Interest Only STRIPS
Series 2014-1, Class A,
4.60% (A), 06/25/2040 (B)		239,271		21,679
Corevest American Finance Trust
Series 2019-1, Class B,
3.88%, 03/15/2052 (B)		1,300,000		1,398,723
Series 2019-3, Class A,
2.71%, 10/15/2052 (B)		1,331,863		1,359,921
CPS Auto Receivables Trust
Series 2014-D, Class C,
4.35%, 11/16/2020 (B)		6,655		6,661
Series 2015-A, Class C,
4.00%, 02/16/2021 (B)		23,122		23,160
Series 2015-C, Class D,
4.63%, 08/16/2021 (B)		349,826		352,525
Series 2016-C, Class C,
3.27%, 06/15/2022 (B)		155,116		155,258
Series 2017-C, Class C,
2.86%, 06/15/2023 (B)		882,313		883,821
Credit Acceptance Auto Loan Trust
Series 2017-1A, Class B,
3.04%, 12/15/2025 (B)		230,592		231,178
Series 2017-1A, Class C,
3.48%, 02/17/2026 (B)		250,000		251,187
Series 2017-2A, Class C,
3.35%, 06/15/2026 (B)		272,000		274,621
Series 2018-1A, Class A,
3.01%, 02/16/2027 (B)		859,000		863,581
CSMA SFR Holdings LLC
Series 2019-1, Class A,
2.00%, 04/25/2023		1,956,997		1,956,997
Diamond Resorts Owner Trust
Series 2017-1A, Class A,
3.27%, 10/22/2029 (B)		416,084		422,148
Series 2018-1, Class A,
3.70%, 01/21/2031 (B)		808,624		833,432
Drive Auto Receivables Trust
Series 2016-CA, Class D,
4.18%, 03/15/2024 (B)		1,008,590		1,021,395
Series 2017-1, Class D,
3.84%, 03/15/2023		1,912,147		1,932,664

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Drive Auto Receivables Trust (continued)
Series 2017-2, Class C,
2.75%, 09/15/2023		$   19,359		$   19,363
Series 2017-3, Class D,
3.53%, 12/15/2023 (B)		3,800,000		3,839,899
Series 2017-AA, Class C,
2.98%, 01/18/2022 (B)		4,540		4,541
Series 2017-AA, Class D,
4.16%, 05/15/2024 (B)		648,000		657,949
Series 2018-3, Class C,
3.72%, 09/16/2024		1,625,000		1,639,047
Series 2019-1, Class D,
4.09%, 06/15/2026		645,000		666,259
DT Asset Trust
Series 2017, Class B,
5.84%, 12/16/2022		1,100,000		1,101,103
DT Auto Owner Trust
Series 2016-4A, Class D,
3.77%, 10/17/2022 (B)		297,718		299,254
Series 2017-1A, Class D,
3.55%, 11/15/2022 (B)		418,206		420,806
Series 2017-3A, Class D,
3.58%, 05/15/2023 (B)		534,000		537,677
Series 2018-1A, Class C,
3.47%, 12/15/2023 (B)		848,946		852,539
Series 2018-1A, Class D,
3.81%, 12/15/2023 (B)		681,000		692,487
Series 2019-4A, Class C,
2.73%, 07/15/2025 (B)		1,819,000		1,845,953
Engs Commercial Finance Trust
Series 2016-1A, Class A2,
2.63%, 02/22/2022 (B)		34,088		34,113
Exeter Automobile Receivables Trust
Series 2016-1A, Class C,
5.52%, 10/15/2021 (B)		119,920		120,191
Series 2017-1A, Class C,
3.95%, 12/15/2022 (B)		315,000		318,114
Series 2018-4A, Class B,
3.64%, 11/15/2022 (B)		744,000		748,369
First Investors Auto Owner Trust
Series 2017-2A, Class B,
2.65%, 11/15/2022 (B)		866,000		868,882
Series 2017-2A, Class C,
3.00%, 08/15/2023 (B)		1,500,000		1,511,272
Series 2017-3A, Class A2,
2.41%, 12/15/2022 (B)		826,000		826,882
Flagship Credit Auto Trust
Series 2015-3, Class C,
4.65%, 03/15/2022 (B)		171,801		173,316
Series 2016-1, Class C,
6.22%, 06/15/2022 (B)		1,050,000		1,075,856
Series 2016-4, Class C,
2.71%, 11/15/2022 (B)		747,000		748,691
Series 2018-3, Class C,
3.79%, 12/16/2024 (B)		2,029,000		2,099,403
Series 2019-4, Class D,
3.12%, 01/15/2026 (B)		2,200,000		2,250,605
Fort Cre LLC
Series 2018-1A, Class C,
1-Month LIBOR + 2.83%, 4.49% (A), 11/16/2035 (B)		3,195,000		3,193,854
Foundation Finance Trust
Series 2019-1A, Class A,
3.86%, 11/15/2034 (B)		799,905		817,209
FREED ABS Trust
Series 2018-1, Class A,
3.61%, 07/18/2024 (B)		287,139		288,447

	Principal		Value
ASSET-BACKED SECURITIES (continued)
FREED ABS Trust (continued)
Series 2018-2, Class A,
3.99%, 10/20/2025 (B)		$   689,940		$   694,923
Series 2019-2, Class A,
2.62%, 11/18/2026 (B)		998,021		1,001,660
FTF Funding II LLC
Series 2019-1, Class A,
Zero Coupon, 08/15/2020		2,409,626		2,410,629
GLS Auto Receivables Trust
Series 2016-1A, Class C,
6.90%, 10/15/2021 (B)		349,253		353,746
Series 2017-1A, Class B,
2.98%, 12/15/2021 (B)		611,054		612,561
GM Financial Automobile Leasing Trust
Series 2017-2, Class A4,
2.18%, 06/21/2021		13,367		13,368
GMAT Trust
Series 2013-1A, Class A,
6.97% (A), 11/25/2043 (B)		1,540		1,540
Gold Key Resorts LLC
Series 2014-A, Class A,
3.22%, 03/17/2031 (B)		65,407		65,450
Golden Bear LLC
Series 2016-R, Class R,
5.65%, 09/20/2047 (B)		351,784		353,485
Goodgreen Trust
Series 2017, Class R1,
5.00%, 10/20/2051		1,961,953		1,949,199
Series 2017-1A, Class A,
3.74%, 10/15/2052 (B)		240,941		252,354
Series 2017-2A, Class A,
3.26%, 10/15/2053 (B)		1,203,597		1,240,187
Series 2019-2A, Class A,
2.76%, 10/15/2054 (B)		1,375,492		1,390,318
Hero Funding Trust
Series 2016-3A, Class A1,
3.08%, 09/20/2042 (B)		288,996		295,183
Series 2017-1A, Class A2,
4.46%, 09/20/2047 (B)		766,503		813,172
Series 2017-3A, Class A2,
3.95%, 09/20/2048 (B)		1,039,375		1,079,319
Hilton Grand Vacations Trust
Series 2017-AA, Class A,
2.66%, 12/26/2028 (B)		226,881		229,068
Kabbage Funding LLC
Series 2019-1, Class A,
3.83%, 03/15/2024 (B)		3,278,000		3,326,639
KGS-Alpha SBA COOF Trust, Interest Only STRIPS
Series 2012-2, Class A,
0.93% (A), 08/25/2038 (B)		1,372,917		27,922
Series 2014-2, Class A,
2.93% (A), 04/25/2040 (B)		242,390		20,954
Lendingpoint Asset Securitization Trust
Series 2019-2, Class A,
3.07%, 11/10/2025 (B)		2,463,062		2,464,470
LL ABS Trust
Series 2019-1A, Class A,
2.87%, 03/15/2027 (B)		1,214,148		1,215,568
LV Tower 52
Series 2013-1, Class A,
5.75%, 07/15/2019 (B)		890,632		892,529
Mariner Finance Issuance Trust
Series 2019-AA, Class B,
3.51%, 07/20/2032 (B)		1,335,000		1,353,321
OnDeck Asset Securitization Trust LLC
Series 2018-1A, Class A,
3.50%, 04/18/2022 (B)		696,000		697,074

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
OneMain Financial Issuance Trust
Series 2016-1A, Class A,
3.66%, 02/20/2029 (B)		$   95,749		$   95,896
Oportun Funding IX LLC
Series 2018-B, Class A,
3.91%, 07/08/2024 (B)		2,329,000		2,363,072
Oportun Funding VI LLC
Series 2017-A, Class A,
3.23%, 06/08/2023 (B)		616,000		616,315
Oportun Funding VII LLC
Series 2017-B, Class A,
3.22%, 10/10/2023 (B)		542,000		543,120
Oportun Funding VIII LLC
Series 2018-A, Class A,
3.61%, 03/08/2024 (B)		1,251,000		1,262,951
Oportun Funding X LLC
Series 2018-C, Class A,
4.10%, 10/08/2024 (B)		3,554,000		3,659,587
Pretium Mortgage Credit Partners I LLC
Series 2018-NPL4, Class A1,
4.83% (A), 09/25/2058 (B)		808,747		814,249
Progress Residential Trust
Series 2015-SFR3, Class A,
3.07%, 11/12/2032 (B)		2,470,322		2,470,214
Series 2015-SFR3, Class D,
4.67%, 11/12/2032 (B)		700,000		700,071
Series 2015-SFR3, Class E,
5.66%, 11/12/2032 (B)		275,000		275,033
Series 2017-SFR1, Class C,
3.32%, 08/17/2034 (B)		3,000,000		3,035,269
Series 2018-SFR2, Class E,
4.66%, 08/17/2035 (B)		1,284,000		1,328,878
Purchasing Power Funding LLC
Series 2018-A, Class A,
3.34%, 08/15/2022 (B)		3,220,000		3,223,340
Renew
Series 2017-1A, Class A,
3.67%, 09/20/2052 (B)		314,904		328,347
Rice Park Financing Trust
Series 2016-A, Class A,
4.63%, 10/31/2041 (B)		1,049,141		1,075,051
Santander Drive Auto Receivables Trust
Series 2015-5, Class E,
4.67%, 02/15/2023 (B)		2,400,000		2,404,868
Santander Retail Auto Lease Trust
Series 2018-A, Class A3,
2.93%, 05/20/2021 (B)		1,121,882		1,125,285
SART
4.75%, 06/15/2025		2,288,869		2,328,924
SFR Holdco LLC
Series 2019-STL, Class A,
7.25%, 10/11/2026 (C) (D) (E)		1,400,000		1,400,000
Sofi Consumer Loan Program LLC
Series 2016-2A, Class A,
3.09%, 10/27/2025 (B)		60,590		60,751
Structured Asset Securities Corp. Mortgage Pass-Through Certificates
Series 2002-AL1, Class A2,
3.45%, 02/25/2032		58,354		56,446
Series 2004-6XS, Class A5A,
6.03% (A), 03/25/2034		111,209		113,827
Series 2004-6XS, Class A5B,
6.05% (A), 03/25/2034		111,209		113,826
Synchrony Card Funding LLC
Series 2019-A1, Class A,
2.95%, 03/15/2025		3,013,000		3,096,578

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Synchrony Card Issuance Trust
Series 2018-A1, Class A1,
3.38%, 09/15/2024		$   1,580,000		$   1,624,062
Tricolor Auto Securitization Trust
Series 2018-1A, Class A,
5.05%, 12/15/2020 (B)		436,027		438,831
Tricon American Homes Trust
Series 2016-SFR1, Class A,
2.59%, 11/17/2033 (B)		643,058		644,863
Upgrade Receivables Trust
Series 2018-1A, Class A,
3.76%, 11/15/2024 (B)		146,217		146,501
US Auto Funding LLC
Series 2018-1A, Class A,
5.50%, 07/15/2023 (B)		915,200		936,644
Vericrest Opportunity Loan Trust
2.98% (A), 02/25/2050 (B)		1,735,000		1,735,000
Series 2019-NPL7, Class A1A,
3.18% (A), 10/25/2049 (B)		1,214,743		1,217,549
Series 2019-NPL8, Class A1A,
3.28% (A), 11/25/2049 (B)		1,652,907		1,655,366
Series 2020-NPL2, Class A1A,
2.98% (A), 02/25/2050 (B)		1,775,000		1,778,529
Verizon Owner Trust
Series 2017-3A, Class A1A,
2.06%, 04/20/2022 (B)		1,235,144		1,236,679
Series 2018-1A, Class A1A,
2.82%, 09/20/2022 (B)		3,516,000		3,541,705
VM Debt Trust
7.50%, 06/15/2024		1,750,000		1,750,000
VOLT FT1
3.26% (A), 01/27/2023		213,991		213,721
VOLT LXIV LLC
Series 2017-NP11, Class A1,
3.38% (A), 10/25/2047 (B)		928,739		929,091
VOLT LXXII LLC
Series 2018-NPL8, Class A1A,
4.21% (A), 10/26/2048 (B)		2,157,837		2,163,285
VOLT LXXX LLC
Series 2019-NPL6, Class A1B,
4.09% (A), 10/25/2049 (B)		2,300,000		2,317,352
VOLT LXXXIII LLC
Series 2019-NPL9, Class A1A,
3.33% (A), 11/26/2049 (B)		1,798,795		1,804,361
VOLT LXXXV LLC
Series 2020-NPL1, Class A1A,
3.23% (A), 01/25/2050 (B)		1,506,354		1,506,548
VSE Voi Mortgage LLC
Series 2018-A, Class A,
3.56%, 02/20/2036 (B)		600,313		624,006
Westgate Resorts LLC
Series 2017-1A, Class A,
3.05%, 12/20/2030 (B)		230,559		231,826
Westlake Automobile Receivables Trust
Series 2017-1A, Class C,
2.70%, 10/17/2022 (B)		42,842		42,858

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
World Financial Network Credit Card Master Trust
Series 2019-A, Class A,
3.14%, 12/15/2025		$   1,385,000		$   1,424,558
World Omni Automobile Lease Securitization Trust
Series 2018-A, Class A3,
2.83%, 07/15/2021		1,256,113		1,259,382
Total Asset-Backed Securities (Cost $147,411,126)				149,274,396
CORPORATE DEBT SECURITIES - 24.8%
Aerospace & Defense - 0.4%
Airbus SE
3.15%, 04/10/2027 (B)		327,000		347,659
3.95%, 04/10/2047 (B)		150,000		178,782
Boeing Co.
3.95%, 08/01/2059		415,000		446,491
L3 Harris Technologies, Inc.
3.83%, 04/27/2025		400,000		433,347
Lockheed Martin Corp.
4.50%, 05/15/2036		300,000		371,399
Northrop Grumman Corp.
3.20%, 02/01/2027		268,000		285,372
3.25%, 01/15/2028		130,000		139,152
3.85%, 04/15/2045		49,000		55,082
Precision Castparts Corp.
3.25%, 06/15/2025		100,000		107,010
4.20%, 06/15/2035		150,000		174,194
Rockwell Collins, Inc.
3.20%, 03/15/2024		140,000		147,706
United Technologies Corp.
3.75%, 11/01/2046		285,000		326,049
4.15%, 05/15/2045		148,000		178,208
4.50%, 06/01/2042		542,000		680,473
6.70%, 08/01/2028		260,000		346,763
				4,217,687
Airlines - 0.9%
Air Canada Pass-Through Trust
3.30%, 07/15/2031 (B)		632,392		666,591
3.55%, 07/15/2031 (B)		373,896		388,667
3.60%, 09/15/2028 (B)		489,298		522,507
4.13%, 11/15/2026 (B)		495,401		535,031
American Airlines Pass-Through Trust
3.00%, 04/15/2030		877,092		917,695
3.65%, 02/15/2029 - 12/15/2029		812,145		882,971
3.70%, 04/15/2027 - 04/01/2028		624,618		647,718
5.25%, 07/31/2022		35,475		36,435
British Airways Pass-Through Trust
3.30%, 06/15/2034 (B)		434,959		464,118
4.13%, 03/20/2033 (B)		496,899		539,863
Continental Airlines Pass-Through Trust
4.00%, 04/29/2026		178,349		190,855
5.98%, 10/19/2023		194,163		204,890
Delta Air Lines Pass-Through Trust
4.75%, 11/07/2021		48,685		49,050
6.82%, 02/10/2024		90,649		98,762
Spirit Airlines Pass-Through Trust
3.38%, 08/15/2031		255,121		270,147
United Airlines Pass-Through Trust
2.88%, 04/07/2030		536,566		559,787
3.45%, 01/07/2030		269,975		285,274
3.50%, 09/01/2031		654,184		698,994
3.65%, 07/07/2027		190,602		196,844

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Airlines (continued)
United Airlines Pass-Through Trust (continued)
3.70%, 09/01/2031		$   370,672		$   391,636
4.15%, 02/25/2033		612,787		686,047
4.55%, 08/25/2031		544,701		612,805
				9,846,687
Automobiles - 0.0% (F)
General Motors Co.
6.60%, 04/01/2036		200,000		243,336
Kia Motors Corp.
2.63%, 04/21/2021 (B)		200,000		201,187
				444,523
Banks - 4.7%
ABN AMRO Bank NV
2.45%, 06/04/2020 (B)		279,000		279,586
4.75%, 07/28/2025 (B)		600,000		663,260
AIB Group PLC
4.75%, 10/12/2023 (B)		700,000		760,125
ANZ New Zealand International, Ltd.
3.45%, 07/17/2027 (B)		222,000		240,383
ASB Bank, Ltd.
3.13%, 05/23/2024 (B)		550,000		574,227
Australia & New Zealand Banking Group, Ltd.
4.40%, 05/19/2026 (B)		200,000		221,262
Banco Santander SA
3.13%, 02/23/2023		200,000		206,435
Bank of America Corp.
2.50%, 10/21/2022, MTN		27,000		27,346
Fixed until 04/24/2022, 2.88% (A), 04/24/2023		50,000		51,089
Fixed until 12/20/2022, 3.00% (A), 12/20/2023		2,539,000		2,615,253
Fixed until 01/20/2022, 3.12% (A), 01/20/2023, MTN		1,037,000		1,061,796
3.25%, 10/21/2027, MTN		398,000		423,309
Fixed until 01/23/2025, 3.37% (A), 01/23/2026		200,000		212,483
Fixed until 12/20/2027, 3.42% (A), 12/20/2028		306,000		328,434
Fixed until 04/24/2027, 3.71% (A), 04/24/2028		1,300,000		1,418,831
Fixed until 03/05/2028, 3.97% (A), 03/05/2029, MTN		1,300,000		1,446,582
Fixed until 04/23/2039, 4.08% (A), 04/23/2040, MTN		410,000		479,951
Fixed until 03/15/2049, 4.33% (A), 03/15/2050, MTN		410,000		509,888
Bank of Montreal
Fixed until 12/15/2027, 3.80% (A), 12/15/2032		223,000		237,852
Barclays PLC
3.65%, 03/16/2025		223,000		236,394
3.68%, 01/10/2023		300,000		308,732
Fixed until 02/15/2022, 4.61% (A), 02/15/2023		600,000		628,752
BNP Paribas SA
Fixed until 01/13/2030, 3.05% (A), 01/13/2031 (B)		585,000		601,191
3.38%, 01/09/2025 (B)		320,000		337,686
3.50%, 03/01/2023 (B)		250,000		261,017
BNZ International Funding, Ltd.
2.65%, 11/03/2022 (B)		650,000		663,053
BPCE SA
4.63%, 07/11/2024 (B)		600,000		653,963

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Citigroup, Inc.
2.75%, 04/25/2022		$   650,000		$   661,864
Fixed until 04/24/2024, 3.35% (A), 04/24/2025		175,000		184,151
3.40%, 05/01/2026		400,000		428,833
Fixed until 07/24/2027, 3.67% (A), 07/24/2028		2,018,000		2,190,337
Fixed until 01/24/2038, 3.88% (A), 01/24/2039		100,000		114,193
Fixed until 03/20/2029, 3.98% (A), 03/20/2030		850,000		950,014
4.45%, 09/29/2027		85,000		95,420
4.65%, 07/23/2048		390,000		508,013
4.75%, 05/18/2046		400,000		494,311
8.13%, 07/15/2039		56,000		96,389
Citizens Bank NA
3.70%, 03/29/2023		475,000		500,975
Citizens Financial Group, Inc.
2.38%, 07/28/2021		78,000		78,604
4.30%, 12/03/2025		77,000		84,647
Commonwealth Bank of Australia
2.85%, 05/18/2026 (B)		410,000		426,156
3.45%, 03/16/2023 (B)		410,000		430,856
4.50%, 12/09/2025 (B)		200,000		221,312
Cooperatieve Rabobank UA
3.75%, 07/21/2026		315,000		335,612
5.80%, 09/30/2110 (B)		300,000		478,336
Credit Agricole SA
4.38%, 03/17/2025 (B)		200,000		216,996
Danske Bank A/S
2.00%, 09/08/2021 (B)		201,000		201,080
2.70%, 03/02/2022 (B)		213,000		216,109
Discover Bank
4.20%, 08/08/2023		550,000		589,169
Fifth Third Bancorp
3.95%, 03/14/2028		340,000		381,434
Fifth Third Bank
3.85%, 03/15/2026		200,000		217,896
HSBC Holdings PLC
Fixed until 11/22/2022, 3.03% (A), 11/22/2023		447,000		459,245
Fixed until 05/18/2023, 3.95% (A), 05/18/2024		1,007,000		1,066,190
Fixed until 03/13/2027, 4.04% (A), 03/13/2028		695,000		757,996
4.25%, 03/14/2024		500,000		537,070
Industrial & Commercial Bank of China, Ltd.
2.45%, 10/20/2021		400,000		401,605
ING Groep NV
3.95%, 03/29/2027		200,000		221,097
4.10%, 10/02/2023		775,000		831,595
KeyBank NA
3.18%, 10/15/2027		250,000		256,663
KeyCorp
4.15%, 10/29/2025, MTN		235,000		261,211
Lloyds Banking Group PLC
Fixed until 11/07/2022, 2.91% (A), 11/07/2023		200,000		204,220
4.38%, 03/22/2028		339,000		382,299
4.58%, 12/10/2025		200,000		219,888
Macquarie Bank, Ltd.
3.90%, 01/15/2026 (B)		570,000		621,613
Mitsubishi UFJ Financial Group, Inc.
2.53%, 09/13/2023 (G)		200,000		204,572
2.67%, 07/25/2022		270,000		275,333
2.95%, 03/01/2021		297,000		301,020
3.41%, 03/07/2024		670,000		708,796
3.75%, 07/18/2039		430,000		490,998

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Mizuho Financial Group, Inc.
2.63%, 04/12/2021 (B)		$   263,000		$   265,944
Fixed until 09/13/2029, 2.87% (A), 09/13/2030		402,000		414,057
National Australia Bank, Ltd.
2.50%, 07/12/2026		250,000		256,052
3.38%, 01/14/2026		500,000		537,470
Fixed until 08/02/2029, 3.93% (A), 08/02/2034 (B)		590,000		627,320
NatWest Markets PLC
3.63%, 09/29/2022 (B)		515,000		536,206
Nordea Bank Abp
4.25%, 09/21/2022 (B)		384,000		405,342
Regions Financial Corp.
3.80%, 08/14/2023		200,000		213,208
Royal Bank of Canada
3.70%, 10/05/2023, MTN		600,000		640,333
Royal Bank of Scotland Group PLC
Fixed until 11/01/2024, 3.75% (A), 11/01/2029		554,000		575,519
3.88%, 09/12/2023		350,000		370,330
Fixed until 03/22/2024, 4.27% (A), 03/22/2025		255,000		273,940
Fixed until 05/08/2029, 4.45% (A), 05/08/2030		570,000		644,807
Santander Group Holdings PLC
3.57%, 01/10/2023		360,000		369,961
Societe Generale SA
3.00%, 01/22/2030 (B) (G)		941,000		949,068
3.88%, 03/28/2024 (B)		540,000		574,910
4.25%, 04/14/2025 (B)		270,000		289,121
Standard Chartered PLC
Fixed until 09/10/2021, 2.74% (A), 09/10/2022 (B)		1,000,000		1,009,404
Fixed until 05/21/2029, 4.31% (A), 05/21/2030 (B) (G)		200,000		222,766
Fixed until 03/15/2028, 4.87% (A), 03/15/2033 (B)		300,000		333,871
Sumitomo Mitsui Financial Group, Inc.
2.44%, 10/19/2021		239,000		241,947
2.78%, 10/18/2022 (G)		329,000		337,183
2.78%, 07/12/2022		400,000		409,236
2.85%, 01/11/2022		400,000		408,072
2.93%, 03/09/2021		270,000		273,738
3.04%, 07/16/2029		755,000		792,874
3.10%, 01/17/2023		241,000		249,919
Swedbank AB
2.20%, 03/04/2020 (B)		400,000		400,124
Truist Bank
3.30%, 05/15/2026		215,000		228,917
Truist Financial Corp.
2.70%, 01/27/2022		91,000		92,582
2.90%, 03/03/2021		265,000		268,307
US Bancorp
3.15%, 04/27/2027, MTN		85,000		91,361
Wells Fargo & Co.
Fixed until 06/17/2026, 3.20% (A), 06/17/2027, MTN		810,000		852,416
3.30%, 09/09/2024, MTN		1,300,000		1,378,867
3.55%, 09/29/2025, MTN		400,000		431,320
3.75%, 01/24/2024, MTN		395,000		421,861
4.10%, 06/03/2026, MTN		121,000		133,091
4.30%, 07/22/2027, MTN		246,000		275,526
4.40%, 06/14/2046, MTN		165,000		194,063
4.65%, 11/04/2044, MTN		184,000		221,942
4.75%, 12/07/2046, MTN		419,000		518,800
4.90%, 11/17/2045, MTN		202,000		254,012

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Westpac Banking Corp.
2.85%, 05/13/2026		$   300,000		$   313,101
Fixed until 11/23/2026, 4.32% (A), 11/23/2031, MTN		260,000		282,946
4.42%, 07/24/2039 (G)		335,000		384,036
				52,718,868
Beverages - 0.6%
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.
4.70%, 02/01/2036		3,044,000		3,652,861
4.90%, 02/01/2046		170,000		211,279
Anheuser-Busch InBev Finance, Inc.
4.63%, 02/01/2044		85,000		101,944
4.70%, 02/01/2036		154,000		181,852
Anheuser-Busch InBev Worldwide, Inc.
4.44%, 10/06/2048		520,000		615,784
4.75%, 04/15/2058		100,000		123,333
Coca-Cola Femsa SAB de CV
2.75%, 01/22/2030		435,000		447,539
Constellation Brands, Inc.
4.40%, 11/15/2025		185,000		206,587
5.25%, 11/15/2048		110,000		142,875
Diageo Capital PLC
4.83%, 07/15/2020		90,000		91,223
Keurig Dr. Pepper, Inc.
3.13%, 12/15/2023		275,000		287,095
3.43%, 06/15/2027		120,000		127,975
4.42%, 05/25/2025		112,000		124,384
4.99%, 05/25/2038		162,000		198,272
				6,513,003
Biotechnology - 0.3%
AbbVie, Inc.
3.20%, 11/21/2029 (B)		1,438,000		1,493,341
4.05%, 11/21/2039 (B)		1,420,000		1,545,077
4.40%, 11/06/2042		425,000		480,888
4.45%, 05/14/2046		165,000		185,574
				3,704,880
Building Products - 0.0% (F)
Masco Corp.
6.50%, 08/15/2032		410,000		524,178
Capital Markets - 2.1%
Bank of New York Mellon Corp.
Fixed until 05/16/2022, 2.66% (A), 05/16/2023, MTN		40,000		40,805
2.80%, 05/04/2026, MTN		76,000		80,050
Charles Schwab Corp.
3.20%, 03/02/2027		500,000		534,190
3.23%, 09/01/2022		100,000		103,928
Credit Suisse Group AG
Fixed until 01/12/2028, 3.87% (A), 01/12/2029 (B)		250,000		271,977
4.28%, 01/09/2028 (B)		400,000		442,636
Credit Suisse Group Funding Guernsey, Ltd.
3.75%, 03/26/2025		950,000		1,018,306
Daiwa Securities Group, Inc.
3.13%, 04/19/2022 (B)		244,000		249,387
Deutsche Bank AG
3.30%, 11/16/2022		200,000		203,899
3.70%, 05/30/2024		700,000		724,719

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Capital Markets (continued)
Goldman Sachs Group, Inc.
Fixed until 10/31/2021, 2.88% (A), 10/31/2022		$   2,150,000		$   2,187,117
Fixed until 07/24/2022, 2.91% (A), 07/24/2023		300,000		306,341
Fixed until 06/05/2022, 2.91% (A), 06/05/2023		474,000		484,508
Fixed until 09/29/2024, 3.27% (A), 09/29/2025		725,000		761,766
3.50%, 01/23/2025 - 11/16/2026		362,000		386,084
Fixed until 06/05/2027, 3.69% (A), 06/05/2028		907,000		984,134
3.75%, 05/22/2025		101,000		108,739
3.85%, 01/26/2027		815,000		884,082
4.25%, 10/21/2025		100,000		110,489
Fixed until 04/23/2038, 4.41% (A), 04/23/2039		450,000		533,578
4.80%, 07/08/2044, MTN		390,000		493,101
6.75%, 10/01/2037		200,000		285,743
Invesco Finance PLC
4.00%, 01/30/2024		160,000		172,559
Macquarie Group, Ltd.
Fixed until 11/28/2027, 3.76% (A), 11/28/2028 (B)		495,000		532,912
Fixed until 01/15/2029, 5.03% (A), 01/15/2030 (B)		600,000		706,940
6.25%, 01/14/2021 (B) (G)		725,000		754,703
Morgan Stanley
Fixed until 07/22/2027, 3.59% (A), 07/22/2028		1,067,000		1,155,120
3.63%, 01/20/2027		457,000		495,820
Fixed until 04/24/2023, 3.74% (A), 04/24/2024		1,315,000		1,388,331
Fixed until 01/24/2028, 3.77% (A), 01/24/2029, MTN		278,000		305,648
3.88%, 01/27/2026, MTN		1,279,000		1,400,731
4.00%, 07/23/2025, MTN		1,736,000		1,907,409
4.10%, 05/22/2023, MTN		150,000		159,815
4.30%, 01/27/2045		280,000		343,117
5.00%, 11/24/2025		497,000		568,284
Nomura Holdings, Inc.
2.65%, 01/16/2025		603,000		612,303
Northern Trust Corp.
Fixed until 05/08/2027, 3.38% (A), 05/08/2032		343,000		359,581
State Street Corp.
2.65%, 05/19/2026		150,000		155,686
UBS Group AG
Fixed until 08/15/2022, 2.86% (A), 08/15/2023 (B)		200,000		204,367
Fixed until 08/13/2029, 3.13% (A), 08/13/2030 (B)		320,000		334,394
3.49%, 05/23/2023 (B)		400,000		413,797
4.13%, 09/24/2025 (B)		200,000		220,786
				23,387,882
Chemicals - 0.3%
Air Liquide Finance SA
2.25%, 09/27/2023 (B)		228,000		231,423
Albemarle Corp.
5.45%, 12/01/2044		200,000		244,387
Celanese US Holdings LLC
3.50%, 05/08/2024		453,000		473,402
DuPont de Nemours, Inc.
5.32%, 11/15/2038		145,000		175,832

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chemicals (continued)
International Flavors & Fragrances, Inc.
4.45%, 09/26/2028		$   158,000		$   177,531
5.00%, 09/26/2048		187,000		221,637
Nutrien, Ltd.
4.13%, 03/15/2035		450,000		492,187
4.20%, 04/01/2029		100,000		112,475
5.00%, 04/01/2049		140,000		173,274
Sherwin-Williams Co.
3.13%, 06/01/2024 (G)		136,000		142,518
Union Carbide Corp.
7.50%, 06/01/2025		400,000		494,760
7.75%, 10/01/2096		210,000		310,286
				3,249,712
Commercial Services & Supplies - 0.1%
ERAC USA Finance LLC
4.50%, 08/16/2021 (B)		175,000		181,848
5.25%, 10/01/2020 (B)		65,000		66,443
5.63%, 03/15/2042 (B)		141,000		184,135
Republic Services, Inc.
2.90%, 07/01/2026		96,000		100,689
Waste Management, Inc.
3.45%, 06/15/2029		245,000		268,377
				801,492
Construction Materials - 0.0% (F)
CRH America, Inc.
5.13%, 05/18/2045 (B)		200,000		249,163
Martin Marietta Materials, Inc.
3.45%, 06/01/2027 (G)		276,000		292,354
				541,517
Consumer Finance - 0.5%
American Express Co.
3.63%, 12/05/2024		63,000		67,830
American Express Credit Corp.
2.38%, 05/26/2020, MTN		212,000		212,265
American Honda Finance Corp.
2.30%, 09/09/2026, MTN		67,000		68,330
BMW US Capital LLC
2.25%, 09/15/2023 (B)		330,000		334,772
Capital One Financial Corp.
3.20%, 02/05/2025		123,000		128,991
3.75%, 07/28/2026		200,000		212,961
4.20%, 10/29/2025		150,000		163,837
Capital One NA
2.95%, 07/23/2021		250,000		254,114
Daimler Finance North America LLC
3.35%, 02/22/2023 (B)		300,000		311,526
General Motors Financial Co., Inc.
3.45%, 04/10/2022		377,000		386,310
3.50%, 11/07/2024		390,000		403,728
3.70%, 05/09/2023		376,000		390,715
3.95%, 04/13/2024		485,000		511,577
4.30%, 07/13/2025		200,000		214,561
4.35%, 04/09/2025		160,000		172,111
Hyundai Capital America
3.00%, 03/18/2021 (B) (G)		250,000		252,702
John Deere Capital Corp.
2.25%, 09/14/2026, MTN		240,000		245,818
2.80%, 09/08/2027, MTN		200,000		210,216
Nissan Motor Acceptance Corp.
2.55%, 03/08/2021 (B)		500,000		502,930

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Finance (continued)
PACCAR Financial Corp.
2.25%, 02/25/2021, MTN (G)		$   156,000		$   157,113
Synchrony Financial
3.70%, 08/04/2026		95,000		99,909
				5,302,316
Containers & Packaging - 0.1%
International Paper Co.
8.70%, 06/15/2038		120,000		183,605
WRKCo, Inc.
3.00%, 09/15/2024		350,000		363,460
3.75%, 03/15/2025		300,000		321,495
				868,560
Diversified Consumer Services - 0.3%
Pepperdine University
3.30%, 12/01/2059		310,000		330,167
President & Fellows of Harvard College
3.30%, 07/15/2056		414,000		472,235
SART
4.75%, 07/15/2024		2,088,322		2,128,000
University of Southern California
3.23%, 10/01/2120		310,000		312,140
				3,242,542
Diversified Financial Services - 0.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.30%, 01/23/2023		157,000		162,490
Aircastle, Ltd.
4.40%, 09/25/2023		83,000		89,046
Aviation Capital Group LLC
2.88%, 01/20/2022 (B)		300,000		303,626
Brookfield Finance, Inc.
3.90%, 01/25/2028		211,000		232,695
4.70%, 09/20/2047		242,000		293,943
4.85%, 03/29/2029		254,000		302,342
China Southern Power Grid International Finance BVI Co., Ltd.
3.50%, 05/08/2027 (B)		480,000		510,111
GE Capital International Funding Unlimited Co.
2.34%, 11/15/2020		1,000,000		1,003,376
4.42%, 11/15/2035		3,323,000		3,742,865
Jefferies Group LLC
6.25%, 01/15/2036		260,000		318,448
6.45%, 06/08/2027		133,000		160,128
Mitsubishi UFJ Lease & Finance Co., Ltd.
2.65%, 09/19/2022 (B)		294,000		297,712
ORIX Corp.
2.90%, 07/18/2022		201,000		205,322
				7,622,104
Diversified Telecommunication Services - 0.8%
AT&T, Inc.
3.55%, 06/01/2024		230,000		244,076
3.60%, 07/15/2025		225,000		242,212
3.95%, 01/15/2025		282,000		306,325
4.13%, 02/17/2026		643,000		709,143
4.90%, 08/15/2037		1,224,000		1,455,159
6.00%, 08/15/2040		200,000		264,484
Deutsche Telekom AG
3.63%, 01/21/2050 (B)		464,000		479,437

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Telecommunication Services (continued)
Deutsche Telekom International Finance BV
2.82%, 01/19/2022 (B)		$   150,000		$   152,935
3.60%, 01/19/2027 (B)		180,000		193,901
GTP Acquisition Partners I LLC
2.35%, 06/15/2045 (B)		77,000		76,441
3.48%, 06/15/2050 (B)		81,000		84,803
Telefonica Emisiones SA
5.13%, 04/27/2020		663,000		667,913
5.46%, 02/16/2021		91,000		94,373
Verizon Communications, Inc.
4.27%, 01/15/2036		400,000		468,662
4.33%, 09/21/2028		307,000		355,109
4.40%, 11/01/2034		1,531,000		1,832,961
4.67%, 03/15/2055		385,000		493,106
4.86%, 08/21/2046		447,000		574,422
				8,695,462
Electric Utilities - 1.5%
AEP Texas, Inc.
6.65%, 02/15/2033		100,000		138,330
AEP Transmission Co. LLC
3.15%, 09/15/2049		165,000		170,377
Alabama Power Co.
5.60%, 03/15/2033		160,000		206,925
6.00%, 03/01/2039		248,000		353,491
6.13%, 05/15/2038		77,000		108,341
Appalachian Power Co.
6.38%, 04/01/2036		200,000		269,406
6.70%, 08/15/2037		200,000		282,796
Arizona Public Service Co.
5.05%, 09/01/2041		303,000		396,911
Baltimore Gas & Electric Co.
3.50%, 08/15/2046		188,000		203,223
CenterPoint Energy Houston Electric LLC
3.95%, 03/01/2048		32,000		38,398
Comision Federal de Electricidad
4.88%, 05/26/2021 (B)		261,000		268,830
Duke Energy Corp.
2.65%, 09/01/2026		85,000		87,430
Duke Energy LLC
3.75%, 05/15/2046		200,000		225,159
6.00%, 12/01/2028		500,000		640,543
6.45%, 10/15/2032		100,000		141,889
Duke Energy Progress LLC
3.60%, 09/15/2047		130,000		143,707
3.70%, 10/15/2046		215,000		240,051
Duquesne Light Holdings, Inc.
3.62%, 08/01/2027 (B)		460,000		472,845
Edison International
4.13%, 03/15/2028		225,000		239,198
5.75%, 06/15/2027		350,000		404,297
EDP Finance BV
3.63%, 07/15/2024 (B)		300,000		315,727
Emera US Finance, LP
4.75%, 06/15/2046		350,000		425,766
Enel Finance International NV
3.50%, 04/06/2028 (B)		265,000		279,685
3.63%, 05/25/2027 (B)		270,000		288,246
4.63%, 09/14/2025 (B)		200,000		222,376
Entergy LLC
2.40%, 10/01/2026		237,000		241,610
3.05%, 06/01/2031		189,000		200,652
3.25%, 04/01/2028		387,000		417,313
Evergy Metro, Inc.
5.30%, 10/01/2041		500,000		660,520
FirstEnergy Corp.
4.85%, 07/15/2047		105,000		129,411

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electric Utilities (continued)
Florida Power & Light Co.
3.95%, 03/01/2048		$   265,000		$   315,345
5.13%, 06/01/2041		112,000		147,289
5.40%, 09/01/2035		100,000		133,736
Fortis, Inc.
3.06%, 10/04/2026		620,000		647,345
Hydro-Quebec
8.40%, 01/15/2022		420,000		473,515
9.40%, 02/01/2021		100,000		107,529
ITC Holdings Corp.
2.70%, 11/15/2022		300,000		305,915
John Sevier Combined Cycle Generation LLC
4.63%, 01/15/2042		442,746		547,352
Korea Southern Power Co., Ltd.
3.00%, 01/29/2021 (B)		200,000		202,323
Massachusetts Electric Co.
4.00%, 08/15/2046 (B)		201,000		228,672
5.90%, 11/15/2039 (B)		55,000		76,020
Mid-Atlantic Interstate Transmission LLC
4.10%, 05/15/2028 (B)		195,000		217,768
MidAmerican Energy Co.
5.75%, 11/01/2035, MTN		600,000		826,927
Nevada Power Co.
5.38%, 09/15/2040		52,000		66,994
5.45%, 05/15/2041		400,000		523,135
New England Power Co.
3.80%, 12/05/2047 (B)		140,000		154,399
New York State Electric & Gas Corp.
3.25%, 12/01/2026 (B)		151,000		161,062
Northern States Power Co.
6.20%, 07/01/2037		89,000		130,354
Ohio Edison Co.
6.88%, 07/15/2036		150,000		223,965
Pennsylvania Electric Co.
3.25%, 03/15/2028 (B)		75,000		79,298
PPL Capital Funding, Inc.
4.20%, 06/15/2022		165,000		172,488
PPL Electric Utilities Corp.
2.50%, 09/01/2022		100,000		101,587
Progress Energy, Inc.
4.40%, 01/15/2021		113,000		114,988
Public Service Electric & Gas Co.
2.25%, 09/15/2026, MTN		140,000		142,851
3.65%, 09/01/2042, MTN		138,000		156,913
Southern California Edison Co.
4.05%, 03/15/2042		300,000		334,831
5.50%, 03/15/2040		130,000		171,395
Southern Power Co.
5.15%, 09/15/2041		260,000		312,407
Southwestern Public Service Co.
4.50%, 08/15/2041		100,000		123,239
Three Gorges Finance I Cayman Islands, Ltd.
3.15%, 06/02/2026 (B)		200,000		209,189
Toledo Edison Co.
6.15%, 05/15/2037		200,000		285,534
Tri-State Generation & Transmission Association, Inc.
4.25%, 06/01/2046		124,000		140,581
Virginia Electric & Power Co.
2.75%, 03/15/2023		127,000		130,355
2.95%, 01/15/2022		157,000		160,097
6.00%, 05/15/2037		140,000		197,163
Wisconsin Electric Power Co.
3.65%, 12/15/2042 (G)		144,000		151,297

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electric Utilities (continued)
Xcel Energy, Inc.
2.40%, 03/15/2021		$   150,000		$   151,063
4.80%, 09/15/2041		116,000		138,177
				16,976,551
Electrical Equipment - 0.1%
Eaton Corp.
7.63%, 04/01/2024		500,000		585,781
Siemens Financieringsmaatschappij NV
3.13%, 03/16/2024 (B)		500,000		526,331
				1,112,112
Electronic Equipment, Instruments & Components - 0.0% (F)
Arrow Electronics, Inc.
3.25%, 09/08/2024		175,000		181,826
3.50%, 04/01/2022		100,000		102,849
3.88%, 01/12/2028		133,000		140,260
				424,935
Energy Equipment & Services - 0.2%
ANR Pipeline Co.
9.63%, 11/01/2021		200,000		225,580
Baker Hughes a GE Co. LLC
5.13%, 09/15/2040		200,000		242,815
Boardwalk Pipelines, LP, Co.
4.80%, 05/03/2029 (G)		250,000		264,363
Halliburton Co.
3.80%, 11/15/2025		150,000		162,263
4.85%, 11/15/2035		130,000		149,248
7.60%, 08/15/2096 (B)		160,000		228,856
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (B)		170,000		183,253
Texas Eastern Transmission, LP
2.80%, 10/15/2022 (B)		462,000		469,168
3.50%, 01/15/2028 (B)		60,000		62,764
				1,988,310
Entertainment - 0.1%
Walt Disney Co.
7.70%, 10/30/2025		300,000		391,784
8.88%, 04/26/2023		200,000		243,129
				634,913
Equity Real Estate Investment Trusts - 0.9%
Alexandria Real Estate Equities, Inc.
3.80%, 04/15/2026		90,000		98,400
4.00%, 02/01/2050		419,000		493,630
American Tower Corp.
2.25%, 01/15/2022		300,000		302,216
3.38%, 10/15/2026		281,000		298,505
3.50%, 01/31/2023		201,000		209,873
5.00%, 02/15/2024		139,000		154,756
Boston Properties, LP
3.20%, 01/15/2025		228,000		240,744
3.65%, 02/01/2026		408,000		441,708
Brixmor Operating Partnership, LP
3.85%, 02/01/2025		400,000		428,138
Crown Castle International Corp.
4.88%, 04/15/2022		200,000		212,669
5.25%, 01/15/2023		200,000		218,737
Digital Realty Trust, LP
3.70%, 08/15/2027		154,000		167,196
Duke Realty, LP
3.25%, 06/30/2026		84,000		88,915
3.63%, 04/15/2023 (G)		168,000		176,097

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
GAIF Bond Issuer Pty, Ltd.
3.40%, 09/30/2026 (B)		$   353,000		$   365,153
Healthpeak Properties, Inc.
3.40%, 02/01/2025		114,000		120,741
3.50%, 07/15/2029		447,000		478,255
3.88%, 08/15/2024		337,000		362,974
Liberty Property, LP
3.25%, 10/01/2026		107,000		114,624
Life Storage, LP
4.00%, 06/15/2029		522,000		573,847
National Retail Properties, Inc.
3.50%, 10/15/2027		150,000		160,767
3.60%, 12/15/2026		218,000		233,855
Office Properties Income Trust
4.00%, 07/15/2022		416,000		427,385
Realty Income Corp.
3.25%, 10/15/2022		250,000		259,255
3.88%, 04/15/2025		290,000		317,769
4.65%, 03/15/2047		113,000		146,709
Regency Centers, LP
2.95%, 09/15/2029		420,000		433,834
Scentre Group Trust 1 / Scentre Group Trust 2
3.50%, 02/12/2025 (B)		500,000		528,513
SITE Centers Corp.
3.63%, 02/01/2025		121,000		126,732
4.70%, 06/01/2027		71,000		78,516
UDR, Inc.
2.95%, 09/01/2026, MTN		116,000		120,711
3.20%, 01/15/2030, MTN		500,000		528,358
Ventas Realty, LP
3.75%, 05/01/2024		300,000		318,985
3.85%, 04/01/2027		203,000		219,599
4.13%, 01/15/2026		79,000		86,573
Welltower, Inc.
3.10%, 01/15/2030		330,000		344,118
4.25%, 04/01/2026		250,000		277,478
				10,156,335
Food & Staples Retailing - 0.3%
Alimentation Couche-Tard, Inc.
3.80%, 01/25/2050 (B)		445,000		447,447
CK Hutchison International 16, Ltd.
1.88%, 10/03/2021 (B)		241,000		240,102
2.75%, 10/03/2026 (B)		350,000		358,175
CK Hutchison International 19, Ltd.
3.63%, 04/11/2029 (B)		285,000		309,389
CVS Pass-Through Trust
4.70%, 01/10/2036 (B)		492,089		538,796
5.77%, 01/10/2033 (B)		146,506		170,809
5.93%, 01/10/2034 (B)		515,876		609,755
Kroger Co.
5.40%, 07/15/2040		51,000		61,845
8.00%, 09/15/2029 (G)		175,000		244,153
				2,980,471
Food Products - 0.3%
Campbell Soup Co.
4.80%, 03/15/2048		200,000		243,662
Cargill, Inc.
3.25%, 03/01/2023 (B)		140,000		145,559
3.30%, 03/01/2022 (B)		250,000		256,436
Conagra Brands, Inc.
4.60%, 11/01/2025		175,000		197,140
5.30%, 11/01/2038		130,000		161,017

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Food Products (continued)
General Mills, Inc.
4.00%, 04/17/2025		$   305,000		$   333,579
4.55%, 04/17/2038		75,000		89,758
Kellogg Co.
3.40%, 11/15/2027		190,000		203,846
Kraft Heinz Foods Co.
2.80%, 07/02/2020		53,000		53,104
5.00%, 07/15/2035		910,000		1,050,416
Mead Johnson Nutrition Co.
4.13%, 11/15/2025		288,000		321,224
Tyson Foods, Inc.
4.88%, 08/15/2034		100,000		124,055
				3,179,796
Gas Utilities - 0.3%
Atmos Energy Corp.
4.13%, 03/15/2049		570,000		688,428
Boston Gas Co.
4.49%, 02/15/2042 (B)		330,000		385,340
Brooklyn Union Gas Co.
4.27%, 03/15/2048 (B)		280,000		332,353
CenterPoint Energy Resources Corp.
4.50%, 01/15/2021		352,000		358,458
KeySpan Gas East Corp.
2.74%, 08/15/2026 (B)		172,000		176,145
Southern Co. Gas Capital Corp.
2.45%, 10/01/2023		77,000		78,631
3.25%, 06/15/2026		85,000		90,331
3.50%, 09/15/2021		601,000		615,414
3.95%, 10/01/2046		94,000		102,399
5.88%, 03/15/2041		109,000		146,548
Southwest Gas Corp.
3.80%, 09/29/2046		177,000		194,014
				3,168,061
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories
4.90%, 11/30/2046		680,000		915,365
Becton Dickinson and Co.
3.73%, 12/15/2024		23,000		24,689
Boston Scientific Corp.
3.75%, 03/01/2026		335,000		365,013
4.00%, 03/01/2029		660,000		745,221
Covidien International Finance SA
2.95%, 06/15/2023		49,000		50,771
DH Europe Finance II Sarl
3.25%, 11/15/2039		134,000		140,942
Zimmer Biomet Holdings, Inc.
3.70%, 03/19/2023		136,000		142,834
				2,384,835
Health Care Providers & Services - 1.0%
Aetna, Inc.
4.50%, 05/15/2042		153,000		173,352
6.75%, 12/15/2037		305,000		430,444
Anthem, Inc.
3.13%, 05/15/2022		200,000		206,138
4.10%, 03/01/2028		425,000		469,842
4.38%, 12/01/2047		110,000		123,794
4.65%, 01/15/2043		38,000		44,115
Cigna Corp.
4.50%, 02/25/2026 (B)		367,000		410,033
4.80%, 07/15/2046 (B)		62,000		74,144
Cottage Health Obligated Group
3.30%, 11/01/2049		360,000		374,746

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Providers & Services (continued)
CVS Health Corp.
3.25%, 08/15/2029		$   515,000		$   534,277
4.30%, 03/25/2028		567,000		628,285
5.05%, 03/25/2048		1,440,000		1,745,485
Hartford HealthCare Corp.
3.45%, 07/01/2054		780,000		806,513
HCA, Inc.
5.13%, 06/15/2039		420,000		484,381
5.25%, 06/15/2026		500,000		571,383
Laboratory Corp. of America Holdings
3.20%, 02/01/2022		170,000		174,437
Mayo Clinic
4.13%, 11/15/2052		198,000		243,225
Memorial Health Services
3.45%, 11/01/2049		720,000		767,602
NYU Langone Hospitals
3.38%, 07/01/2055 (H)		300,000		307,587
Partners Healthcare System, Inc.
3.34%, 07/01/2060		1,261,000		1,315,594
Providence St. Joseph Health Obligated Group
2.75%, 10/01/2026		168,000		178,787
Quest Diagnostics, Inc.
3.45%, 06/01/2026		75,000		80,749
Texas Health Resources
4.33%, 11/15/2055		175,000		221,203
UnitedHealth Group, Inc.
4.63%, 07/15/2035		234,000		289,118
				10,655,234
Hotels, Restaurants & Leisure - 0.1%
McDonald’s Corp.
4.70%, 12/09/2035, MTN		465,000		579,667
Independent Power & Renewable Electricity Producers - 0.0% (F)
Exelon Generation Co. LLC
5.75%, 10/01/2041		86,000		103,601
NRG Energy, Inc.
4.45%, 06/15/2029 (B)		375,000		406,934
				510,535
Industrial Conglomerates - 0.0% (F)
General Electric Co.
4.65%, 10/17/2021, MTN		258,000		269,523
Roper Technologies, Inc.
3.00%, 12/15/2020		52,000		52,468
				321,991
Insurance - 1.3%
AIA Group, Ltd.
3.20%, 03/11/2025 (B)		200,000		209,249
3.60%, 04/09/2029 (B)		200,000		218,180
3.90%, 04/06/2028 (B)		335,000		369,004
AIG SunAmerica Global Financing X
6.90%, 03/15/2032 (B)		400,000		574,101
Assurant, Inc.
4.20%, 09/27/2023		425,000		450,865
Athene Global Funding
2.75%, 06/25/2024 (B)		550,000		564,775
2.95%, 11/12/2026 (B)		1,340,000		1,379,411
Berkshire Hathaway Finance Corp.
4.40%, 05/15/2042		268,000		327,316
CNA Financial Corp.
3.95%, 05/15/2024		164,000		176,397
Dai-ichi Life Insurance Co., Ltd.
Fixed until 07/24/2026 (I), 4.00% (A) (B)		421,000		442,050

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance (continued)
Guardian Life Insurance Co. of America
4.85%, 01/24/2077 (B)		$   83,000		$   108,392
Harborwalk Funding Trust
Fixed until 02/15/2049, 5.08% (A), 02/15/2069 (B)		600,000		736,326
Hartford Financial Services Group, Inc.
4.30%, 04/15/2043		360,000		417,242
Jackson National Life Global Funding
3.05%, 04/29/2026 (B)		303,000		319,600
3.25%, 01/30/2024 (B)		115,000		120,875
Liberty Mutual Group, Inc.
3.95%, 10/15/2050 (B)		300,000		326,864
4.57%, 02/01/2029 (B)		200,000		230,998
Liberty Mutual Insurance Co.
8.50%, 05/15/2025 (B)		200,000		252,998
Lincoln National Corp.
3.05%, 01/15/2030		375,000		390,160
4.00%, 09/01/2023		300,000		322,576
4.20%, 03/15/2022		211,000		221,142
Manulife Financial Corp.
Fixed until 02/24/2027, 4.06% (A), 02/24/2032		350,000		372,221
Marsh & McLennan Cos., Inc.
2.35%, 03/06/2020		176,000		176,048
Massachusetts Mutual Life Insurance Co.
3.73%, 10/15/2070 (B)		281,000		290,595
MassMutual Global Funding II
2.75%, 06/22/2024 (B)		400,000		416,937
Metropolitan Life Global Funding I
3.00%, 09/19/2027 (B)		350,000		371,404
New York Life Global Funding
2.00%, 04/13/2021 (B)		96,000		96,461
2.35%, 07/14/2026 (B)		226,000		230,392
3.00%, 01/10/2028 (B) (G)		202,000		215,983
New York Life Insurance Co.
4.45%, 05/15/2069 (B)		330,000		406,190
OneBeacon Holdings, Inc.
4.60%, 11/09/2022 (G)		500,000		529,008
Pacific Life Insurance Co.
Fixed until 10/24/2047, 4.30% (A), 10/24/2067 (B)		198,000		217,503
Progressive Corp.
Fixed until 03/15/2023 (I), 5.38% (A)		245,000		257,862
Prudential Financial, Inc.
3.91%, 12/07/2047		164,000		183,076
Prudential Insurance Co. of America
8.30%, 07/01/2025 (B)		900,000		1,163,360
Reliance Standard Life Global Funding II
2.75%, 01/21/2027 (B)		380,000		385,694
3.85%, 09/19/2023 (B)		300,000		320,250
Sumitomo Life Insurance Co.
Fixed until 09/14/2027, 4.00% (A), 09/14/2077 (B)		250,000		264,687
Teachers Insurance & Annuity Association of America
4.27%, 05/15/2047 (B)		260,000		310,052
4.90%, 09/15/2044 (B)		150,000		192,050
Travelers Property Casualty Corp.
7.75%, 04/15/2026		200,000		264,302
				14,822,596

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Internet & Direct Marketing Retail - 0.1%
Amazon.com, Inc.
3.88%, 08/22/2037		$   500,000		$   586,413
IT Services - 0.3%
DXC Technology Co.
4.25%, 04/15/2024 (G)		172,000		183,844
Fiserv, Inc.
3.20%, 07/01/2026		230,000		242,826
4.40%, 07/01/2049		220,000		257,929
Global Payments, Inc.
4.15%, 08/15/2049		460,000		521,041
IBM Credit LLC
3.00%, 02/06/2023		500,000		518,681
International Business Machines Corp.
3.30%, 05/15/2026		930,000		1,000,875
7.00%, 10/30/2025		508,000		647,739
Western Union Co.
3.60%, 03/15/2022 (G)		400,000		413,110
				3,786,045
Life Sciences Tools & Services - 0.0% (F)
Thermo Fisher Scientific, Inc.
2.95%, 09/19/2026		161,000		169,101
4.15%, 02/01/2024		217,000		235,282
				404,383
Machinery - 0.1%
Ingersoll-Rand Finance SA
2.63%, 05/01/2020		200,000		200,221
nVent Finance Sarl
4.55%, 04/15/2028		337,000		362,253
Parker-Hannifin Corp.
4.10%, 03/01/2047		104,000		119,340
Xylem, Inc.
3.25%, 11/01/2026		74,000		78,494
				760,308
Media - 0.8%
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		625,000		668,831
5.05%, 03/30/2029		400,000		460,442
6.83%, 10/23/2055		150,000		198,503
Comcast Cable Holdings LLC
10.13%, 04/15/2022		414,000		484,478
Comcast Corp.
3.15%, 03/01/2026 - 02/15/2028		755,000		806,164
3.25%, 11/01/2039		380,000		403,807
3.45%, 02/01/2050		1,119,000		1,201,768
3.95%, 10/15/2025		335,000		370,373
4.60%, 10/15/2038		415,000		511,953
4.95%, 10/15/2058		525,000		714,438
Cox Communications, Inc.
4.60%, 08/15/2047 (B)		196,000		228,901
Discovery Communications LLC
4.38%, 06/15/2021		344,000		356,430
Fox Corp.
4.71%, 01/25/2029 (B)		245,000		285,219
NBCUniversal Media LLC
5.95%, 04/01/2041		210,000		301,582
SES SA
3.60%, 04/04/2023 (B)		100,000		103,332

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
TCI Communications, Inc.
7.13%, 02/15/2028		$   100,000		$   133,418
Time Warner Cable LLC
5.50%, 09/01/2041		400,000		459,926
7.30%, 07/01/2038		90,000		122,435
Time Warner Entertainment Co., LP
8.38%, 07/15/2033		250,000		367,902
ViacomCBS, Inc.
2.90%, 01/15/2027		250,000		255,324
4.00%, 01/15/2026		208,000		226,487
4.20%, 06/01/2029		380,000		424,739
4.85%, 07/01/2042		150,000		175,495
				9,261,947
Metals & Mining - 0.2%
Anglo American Capital PLC
3.63%, 09/11/2024 (B)		200,000		210,717
Barrick Gold Corp.
6.45%, 10/15/2035 (G)		140,000		187,827
BHP Billiton Finance, Ltd.
4.13%, 02/24/2042		150,000		177,368
Nucor Corp.
6.40%, 12/01/2037		390,000		553,416
Steel Dynamics, Inc.
3.45%, 04/15/2030		522,000		538,096
				1,667,424
Multi-Utilities - 0.3%
CMS Energy Corp.
3.00%, 05/15/2026		73,000		76,717
3.88%, 03/01/2024		350,000		373,686
Consolidated Edison Co. of New York, Inc.
5.70%, 06/15/2040		154,000		214,341
Delmarva Power & Light Co.
4.00%, 06/01/2042		294,000		326,888
4.15%, 05/15/2045		270,000		317,382
Dominion Energy, Inc.
2.75%, 09/15/2022		165,000		168,302
4.90%, 08/01/2041		103,000		126,712
5.25%, 08/01/2033		500,000		622,463
DTE Electric Co.
3.95%, 06/15/2042		101,000		111,962
NiSource, Inc.
5.80%, 02/01/2042		600,000		787,606
San Diego Gas & Electric Co.
6.00%, 06/01/2026 (G)		320,000		388,518
6.13%, 09/15/2037		100,000		135,885
WEC Energy Group, Inc.
3.55%, 06/15/2025		115,000		123,568
				3,774,030
Multiline Retail - 0.0% (F)
Dollar General Corp.
4.13%, 05/01/2028		280,000		315,207
Oil, Gas & Consumable Fuels - 2.2%
Apache Corp.
4.75%, 04/15/2043		268,000		262,015
APT Pipelines, Ltd.
4.25%, 07/15/2027 (B)		386,000		425,060
BP Capital Markets PLC
3.28%, 09/19/2027		321,000		341,246
Buckeye Partners, LP
4.88%, 02/01/2021		200,000		203,022
5.85%, 11/15/2043		150,000		139,464

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Cameron LNG LLC
3.70%, 01/15/2039 (B)		$   554,000		$   595,121
Canadian Natural Resources, Ltd.
3.80%, 04/15/2024 (G)		200,000		212,935
5.85%, 02/01/2035		150,000		190,968
6.45%, 06/30/2033		299,000		395,755
Cenovus Energy, Inc.
5.25%, 06/15/2037		101,000		112,377
6.75%, 11/15/2039		106,000		133,422
CNOOC Finance Pty, Ltd.
2.63%, 05/05/2020		328,000		328,426
Ecopetrol SA
5.38%, 06/26/2026		135,000		152,456
5.88%, 09/18/2023		113,000		126,052
Enable Midstream Partners, LP
4.95%, 05/15/2028		135,000		139,238
Enbridge, Inc.
4.50%, 06/10/2044		200,000		225,300
Fixed until 03/01/2028, 6.25% (A), 03/01/2078		300,000		327,453
Energy Transfer Operating, LP
4.75%, 01/15/2026		173,000		189,494
6.05%, 06/01/2041		538,000		619,302
Eni SpA
5.70%, 10/01/2040 (B)		900,000		1,139,844
Enterprise Products Operating LLC
3.70%, 02/15/2026 - 01/31/2051		417,000		426,806
3.75%, 02/15/2025		74,000		79,501
3.90%, 02/15/2024		362,000		387,832
3.95%, 01/31/2060		185,000		187,528
4.20%, 01/31/2050		235,000		253,098
4.45%, 02/15/2043		161,000		178,687
4.95%, 10/15/2054		33,000		38,717
5.10%, 02/15/2045		32,000		38,329
7.55%, 04/15/2038		161,000		240,043
EOG Resources, Inc.
4.15%, 01/15/2026		80,000		88,694
EQT Corp.
3.90%, 10/01/2027 (G)		264,000		211,042
Exxon Mobil Corp.
3.00%, 08/16/2039		515,000		533,312
4.11%, 03/01/2046		294,000		352,177
Kinder Morgan, Inc.
4.30%, 03/01/2028		700,000		773,618
Magellan Midstream Partners, LP
3.20%, 03/15/2025		80,000		82,819
4.20%, 12/01/2042 - 10/03/2047		648,000		689,234
MPLX, LP
4.13%, 03/01/2027		155,000		164,209
4.50%, 04/15/2038		280,000		289,311
5.20%, 03/01/2047		108,000		119,325
5.25%, 01/15/2025 (B)		214,000		224,948
Noble Energy, Inc.
3.25%, 10/15/2029		290,000		291,821
5.25%, 11/15/2043		400,000		444,330
Occidental Petroleum Corp.
3.50%, 08/15/2029 (G)		695,000		716,995
7.15%, 05/15/2028		552,000		691,640
7.88%, 09/15/2031		100,000		136,722
ONEOK Partners, LP
3.38%, 10/01/2022		30,000		30,916
5.00%, 09/15/2023		65,000		71,231
6.65%, 10/01/2036		220,000		285,108
ONEOK, Inc.
3.40%, 09/01/2029		495,000		506,278
5.20%, 07/15/2048		300,000		343,728

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Ovintiv, Inc.
7.20%, 11/01/2031		$   200,000		$   248,468
7.38%, 11/01/2031		250,000		315,628
Petroleos Mexicanos
5.35%, 02/12/2028		189,000		190,710
6.35%, 02/12/2048		71,000		70,208
6.50%, 03/13/2027		1,400,000		1,517,838
6.75%, 09/21/2047		403,000		407,836
6.84%, 01/23/2030 (B)		82,000		88,847
7.69%, 01/23/2050 (B)		207,000		227,410
Phillips 66
4.88%, 11/15/2044		40,000		49,163
Phillips 66 Partners, LP
3.15%, 12/15/2029		300,000		303,043
3.55%, 10/01/2026		66,000		70,523
4.90%, 10/01/2046		144,000		165,770
Plains All American Pipeline, LP / PAA Finance Corp.
4.30%, 01/31/2043		150,000		138,257
4.65%, 10/15/2025		350,000		382,464
4.70%, 06/15/2044		160,000		154,097
Southern Natural Gas Co. LLC
4.80%, 03/15/2047 (B)		136,000		159,033
8.00%, 03/01/2032		105,000		152,135
Spectra Energy Partners, LP
3.50%, 03/15/2025 (G)		633,000		673,813
Suncor Energy, Inc.
5.95%, 12/01/2034		550,000		736,337
7.88%, 06/15/2026		100,000		130,009
Sunoco Logistics Partners Operations, LP
3.90%, 07/15/2026		195,000		204,252
5.50%, 02/15/2020		250,000		250,201
6.10%, 02/15/2042		500,000		574,785
TC PipeLines, LP
3.90%, 05/25/2027		141,000		148,520
Total Capital International SA
3.46%, 07/12/2049		480,000		521,842
TransCanada PipeLines, Ltd.
3.75%, 10/16/2023		135,000		142,810
4.88%, 01/15/2026		370,000		421,159
Valero Energy Corp.
7.50%, 04/15/2032		70,000		97,050
Williams Cos., Inc.
3.90%, 01/15/2025		117,000		124,773
4.85%, 03/01/2048		249,000		268,454
				24,072,384
Personal Products - 0.0% (F)
Unilever Capital Corp.
3.38%, 03/22/2025		180,000		192,932
Pharmaceuticals - 0.5%
Allergan Funding SCS
3.85%, 06/15/2024		211,000		224,974
4.55%, 03/15/2035		300,000		345,006
Allergan, Inc.
2.80%, 03/15/2023		162,000		164,869
3.38%, 09/15/2020		125,000		126,491
AstraZeneca PLC
6.45%, 09/15/2037		180,000		262,852
Baxalta, Inc.
3.60%, 06/23/2022		20,000		20,654
5.25%, 06/23/2045		10,000		13,481
Bristol-Myers Squibb Co.
3.20%, 06/15/2026 (B)		559,000		594,615
3.40%, 07/26/2029 (B)		611,000		669,484
4.13%, 06/15/2039 (B)		377,000		451,519

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Pharmaceuticals (continued)
Bristol-Myers Squibb Co. (continued)
4.55%, 02/20/2048 (B)		$   370,000		$   468,909
5.00%, 08/15/2045 (B)		150,000		199,683
5.70%, 10/15/2040 (B) (G)		160,000		220,403
Mylan NV
3.95%, 06/15/2026		185,000		197,459
Mylan, Inc.
3.13%, 01/15/2023 (B)		100,000		102,516
5.40%, 11/29/2043		100,000		115,111
Pfizer, Inc.
3.90%, 03/15/2039		600,000		696,717
Shire Acquisitions Investments Ireland DAC
2.88%, 09/23/2023		334,000		343,557
3.20%, 09/23/2026		778,000		818,631
				6,036,931
Real Estate Management & Development - 0.1%
Ontario Teachers’ Cadillac Fairview Properties Trust
3.13%, 03/20/2022 (B)		314,000		321,830
3.88%, 03/20/2027 (B)		325,000		355,875
				677,705
Road & Rail - 0.3%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (B)		510,000		551,927
Burlington Northern Santa Fe LLC
3.55%, 02/15/2050		327,000		360,875
5.75%, 05/01/2040		300,000		424,661
7.29%, 06/01/2036		90,000		136,317
CSX Corp.
4.75%, 11/15/2048		215,000		271,457
6.00%, 10/01/2036, MTN		340,000		456,793
JB Hunt Transport Services, Inc.
3.88%, 03/01/2026		315,000		345,007
Norfolk Southern Corp.
3.85%, 01/15/2024 (G)		266,000		285,861
4.05%, 08/15/2052		87,000		98,861
Ryder System, Inc.
2.50%, 05/11/2020, MTN		158,000		158,176
3.45%, 11/15/2021, MTN		42,000		43,203
				3,133,138
Semiconductors & Semiconductor Equipment - 0.2%
Analog Devices, Inc.
4.50%, 12/05/2036		226,000		254,873
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.63%, 01/15/2024		663,000		693,624
3.88%, 01/15/2027		200,000		211,051
Broadcom, Inc.
4.75%, 04/15/2029 (B)		925,000		1,036,573
				2,196,121
Software - 0.2%
Microsoft Corp.
3.50%, 02/12/2035		277,000		314,567
3.95%, 08/08/2056		221,000		273,449
4.00%, 02/12/2055		321,000		397,894
4.10%, 02/06/2037		489,000		591,361
4.20%, 11/03/2035		103,000		125,595
Oracle Corp.
2.95%, 05/15/2025		200,000		211,239
3.85%, 07/15/2036		33,000		37,687
3.90%, 05/15/2035		27,000		31,289

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Software (continued)
VMware, Inc.
2.95%, 08/21/2022		$   521,000		$   533,160
				2,516,241
Specialty Retail - 0.2%
Home Depot, Inc.
3.13%, 12/15/2049		735,000		757,203
Lowe’s Cos., Inc.
3.65%, 04/05/2029		472,000		514,611
4.55%, 04/05/2049		413,000		496,791
O’Reilly Automotive, Inc.
3.60%, 09/01/2027		247,000		269,234
				2,037,839
Technology Hardware, Storage & Peripherals - 0.5%
Apple, Inc.
2.45%, 08/04/2026		296,000		305,299
2.90%, 09/12/2027		597,000		633,224
2.95%, 09/11/2049		99,000		100,929
3.00%, 06/20/2027 (G)		637,000		680,714
3.20%, 05/13/2025 - 05/11/2027		446,000		479,952
3.25%, 02/23/2026		266,000		286,186
3.35%, 02/09/2027		603,000		654,268
3.45%, 02/09/2045		528,000		579,148
3.75%, 09/12/2047		500,000		580,118
3.85%, 08/04/2046		207,000		242,196
4.65%, 02/23/2046		119,000		154,533
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (B)		500,000		583,866
				5,280,433
Tobacco - 0.0% (F)
BAT Capital Corp.
4.54%, 08/15/2047		290,000		299,794
Trading Companies & Distributors - 0.3%
Air Lease Corp.
3.25%, 03/01/2025 - 10/01/2029		1,153,000		1,181,771
BOC Aviation, Ltd.
2.75%, 09/18/2022 (B)		270,000		272,405
3.50%, 10/10/2024 (B)		200,000		209,738
International Lease Finance Corp.
5.88%, 08/15/2022		154,000		168,724
8.63%, 01/15/2022		700,000		787,542
WW Grainger, Inc.
4.60%, 06/15/2045		198,000		249,132
				2,869,312
Transportation Infrastructure - 0.1%
Mexico City Airport Trust
5.50%, 07/31/2047 (B)		200,000		219,300
Penske Truck Leasing Co., LP / PTL Finance Corp.
4.13%, 08/01/2023 (B)		233,000		249,145
4.88%, 07/11/2022 (B)		500,000		534,457
				1,002,902
Water Utilities - 0.0% (F)
American Water Capital Corp.
3.85%, 03/01/2024		300,000		321,515
4.00%, 12/01/2046		172,000		197,333
				518,848

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Wireless Telecommunication Services - 0.3%
America Movil SAB de CV
3.13%, 07/16/2022		$   236,000		$   243,354
3.63%, 04/22/2029		505,000		552,667
4.38%, 04/22/2049		251,000		304,410
Crown Castle Towers LLC
3.22%, 05/15/2042 (B)		200,000		203,415
Rogers Communications, Inc.
4.35%, 05/01/2049		350,000		413,593
Vodafone Group PLC
3.75%, 01/16/2024		75,000		79,982
4.88%, 06/19/2049		545,000		651,936
5.25%, 05/30/2048		260,000		327,615
				2,776,972
Total Corporate Debt Securities (Cost $253,393,056)				275,745,064
FOREIGN GOVERNMENT OBLIGATIONS - 0.7%
Canada - 0.0% (F)
Province of Quebec
6.35%, 01/30/2026, MTN		285,000		350,340
Colombia - 0.1%
Colombia Government International Bond
4.00%, 02/26/2024		300,000		318,282
5.00%, 06/15/2045		200,000		243,000
7.38%, 09/18/2037		200,000		293,500
				854,782
Israel - 0.3%
Israel Government AID Bond
Series 2011-Z,
Zero Coupon, 11/15/2026		1,400,000		1,240,000
Israel Government AID Bond, Principal Only STRIPS
Series 2,
Zero Coupon, 11/01/2024		2,250,000		2,076,001
				3,316,001
Mexico - 0.3%
Mexico Government International Bond
3.75%, 01/11/2028		1,042,000		1,104,520
4.13%, 01/21/2026		615,000		668,812
4.35%, 01/15/2047		183,000		200,568
4.60%, 02/10/2048		200,000		227,302
4.75%, 03/08/2044, MTN		190,000		217,550
5.75%, 10/12/2110, MTN		550,000		683,375
				3,102,127
Panama - 0.0% (F)
Panama Government International Bond
4.50%, 04/16/2050		200,000		247,302
Total Foreign Government Obligations (Cost $7,267,157)				7,870,552
MORTGAGE-BACKED SECURITIES - 3.6%
American General Mortgage Loan Trust
Series 2006-1, Class A5,
5.75% (A), 12/25/2035 (B)		3,448		3,586
Banc of America Funding Trust
Series 2004-3, Class 1A1,
5.50%, 10/25/2034		66,372		68,933

The notes are an integral part of this report. Transamerica Funds Page    14

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Banc of America Funding Trust (continued)
Series 2004-C, Class 1A1,
4.38% (A), 12/20/2034		$   23,888		$   24,443
Series 2005-E, Class 4A1,
4.40% (A), 03/20/2035		65,930		66,330
Banc of America Mortgage Trust
Series 2003-C, Class 3A1,
5.12% (A), 04/25/2033		28,272		29,191
BB-UBS Trust
Series 2012-SHOW, Class A,
3.43%, 11/05/2036 (B)		1,500,000		1,589,856
BCAP LLC Trust
Series 2009-RR5, Class 8A1,
5.50% (A), 11/26/2034 (B)		32,299		32,697
Bear Stearns ARM Trust
Series 2003-4, Class 3A1,
4.40% (A), 07/25/2033		34,078		35,138
Series 2004-2, Class 14A,
4.35% (A), 05/25/2034		24,590		24,885
Bear Stearns Commercial Mortgage Securities Trust, Interest Only STRIPS
Series 2005-PWR8, Class X1,
0.80% (A), 06/11/2041 (B)		74,494		135
CD Commercial Mortgage Trust, Interest Only STRIPS
Series 2007-CD4, Class XC,
1.38% (A), 12/11/2049 (B)		25,512		1,040
Chase Mortgage Finance Trust
Series 2007-A1, Class 1A3,
4.45% (A), 02/25/2037		398,134		407,761
Series 2007-A1, Class 2A1,
4.69% (A), 02/25/2037		72,843		75,978
Series 2007-A1, Class 7A1,
4.51% (A), 02/25/2037		57,816		59,616
Series 2007-A1, Class 9A1,
4.39% (A), 02/25/2037		27,443		27,845
Series 2007-A2, Class 1A1,
4.79% (A), 06/25/2035		21,191		21,828
Series 2007-A2, Class 2A1,
4.14% (A), 06/25/2035		124,892		127,408
CHL Mortgage Pass-Through Trust
Series 2004-3, Class A26,
5.50%, 04/25/2034		102,677		105,817
Series 2004-3, Class A4,
5.75%, 04/25/2034		154,015		159,208
Series 2004-5, Class 1A4,
5.50%, 06/25/2034		141,662		146,241
Series 2004-8, Class 2A1,
4.50%, 06/25/2019		259		261
Citigroup Global Markets Mortgage Securities VII, Inc.
Series 2003-HYB1, Class A,
4.24% (A), 09/25/2033		42,080		43,309
Citigroup Mortgage Loan Trust, Inc.
Series 2003-1, Class 3A4,
5.25%, 09/25/2033		45,826		46,763
Series 2005-2, Class 2A11,
5.50%, 05/25/2035		101,258		103,838
Series 2009-10, Class 1A1,
4.33% (A), 09/25/2033 (B)		133,433		136,977
COBALT CMBS Commercial Mortgage Trust, Interest Only STRIPS
Series 2006-C1, Class IO,
1.08% (A), 08/15/2048		518,882		2,055
COMM Mortgage Trust
Series 2015-CR25, Class A4,
3.76%, 08/10/2048		562,000		613,407
Series 2018-HOME, Class A,
3.94% (A), 04/10/2033 (B)		2,410,000		2,668,354

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
COMM Mortgage Trust, Interest Only STRIPS
Series 2012-CR2, Class XA,
1.80% (A), 08/15/2045		$   1,728,677		$   58,785
Credit Suisse First Boston Mortgage Securities Corp.
Series 2003-21, Class 1A4,
5.25%, 09/25/2033		37,030		37,835
Series 2003-AR15, Class 3A1,
4.16% (A), 06/25/2033		68,563		69,560
Series 2004-5, Class 3A1,
5.25%, 08/25/2019		13,645		12,542
CSFB Mortgage-Backed Pass-Through Certificates
Series 2003-27, Class 5A4,
5.25%, 11/25/2033		76,370		78,011
Series 2003-29, Class 5A1,
7.00%, 12/25/2033		82,583		85,552
Series 2004-4, Class 2A4,
5.50%, 09/25/2034		89,628		93,338
Series 2004-8, Class 1A4,
5.50%, 12/25/2034		123,744		128,629
CSMC OA LLC
Series 2014-USA, Class D,
4.37%, 09/15/2037 (B)		500,000		504,541
CSMC Trust
Series 2010-17R, Class 1A1,
4.12% (A), 06/26/2036 (B)		6,163		6,177
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust
Series 2005-1, Class 2A1,
5.20% (A), 02/25/2020		13,834		13,778
GS Mortgage Securities Trust, Interest Only STRIPS
Series 2006-GG8, Class X,
1.27% (A), 11/10/2039 (B)		814,268		3,874
GSMPS Mortgage Loan Trust
Series 2005-RP3, Class 1AF,
1-Month LIBOR + 0.35%, 2.01% (A), 09/25/2035 (B)		666,507		590,944
GSMPS Mortgage Loan Trust, Interest Only STRIPS
Series 2005-RP3, Class 1AS,
2.68% (A), 09/25/2035 (B)		499,881		65,240
GSR Mortgage Loan Trust
Series 2003-7F, Class 1A4,
5.25%, 06/25/2033		196,163		200,381
Series 2004-8F, Class 2A3,
6.00%, 09/25/2034		131,355		134,751
Series 2005-5F, Class 8A3,
1-Month LIBOR + 0.50%, 2.16% (A), 06/25/2035		10,414		9,891
Headlands Residential LLC
Series 2017-RPL1, Class A,
3.88% (A), 08/25/2022 (B)		1,980,000		1,988,156
Series 2018-RPL1, Class A,
4.25% (A), 06/25/2023 (B)		2,410,000		2,436,001
Series 2019-RPL1, Class NOTE,
3.97% (A), 06/25/2024 (B)		2,300,000		2,322,987
Impac CMB Trust
Series 2005-4, Class 2A1,
1-Month LIBOR + 0.60%, 2.26% (A), 05/25/2035		94,911		93,303
Impac Secured Assets CMN Owner Trust
Series 2003-2, Class A1,
5.50%, 08/25/2033		41,208		41,686

The notes are an integral part of this report. Transamerica Funds Page    15

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Impac Secured Assets Trust
Series 2006-1, Class 2A1,
1-Month LIBOR + 0.35%, 2.01% (A), 05/25/2036		$   204,992		$   200,837
Series 2006-2, Class 2A1,
1-Month LIBOR + 0.35%, 2.01% (A), 08/25/2036		55,888		55,877
Independence Plaza Trust
Series 2018-INDP, Class A,
3.76%, 07/10/2035 (B)		1,590,000		1,687,572
JPMorgan Chase Commercial Mortgage Securities Trust, Interest Only STRIPS
Series 2006-CB15, Class X1,
0.39% (A), 06/12/2043		2,310,625		3,270
JPMorgan Mortgage Trust
Series 2004-A3, Class 4A1,
4.91% (A), 07/25/2034		8,437		8,685
Series 2004-A4, Class 1A1,
4.79% (A), 09/25/2034		18,616		19,552
Series 2004-S1, Class 1A7,
5.00%, 09/25/2034		1,564		1,566
Series 2005-A1, Class 3A4,
4.43% (A), 02/25/2035		69,333		72,123
Series 2006-A2, Class 5A3,
4.11% (A), 11/25/2033		128,653		133,805
Series 2006-A3, Class 6A1,
4.14% (A), 08/25/2034		15,021		15,233
LB-UBS Commercial Mortgage Trust, Interest Only STRIPS
Series 2006-C1, Class XCL,
0.39% (A), 02/15/2041 (B)		957,864		103
LHOME Mortgage Trust
Series 2019-RTL3, Class A1,
3.87%, 07/25/2024 (B)		2,210,000		2,215,020
MASTR Adjustable Rate Mortgages Trust
Series 2004-13, Class 2A1,
4.54% (A), 04/21/2034		143,766		147,530
Series 2004-13, Class 3A7,
4.69% (A), 11/21/2034		92,303		94,931
MASTR Alternative Loan Trust
Series 2003-9, Class 2A1,
6.00%, 12/25/2033		12,127		12,512
MASTR Asset Securitization Trust
Series 2003-11, Class 9A6,
5.25%, 12/25/2033		187,244		189,417
Series 2004-P7, Class A6,
5.50%, 12/27/2033 (B)		28,324		29,341
MASTR Resecuritization Trust, Principal Only STRIPS
Series 2005, Class 3,
Zero Coupon, 05/28/2035 (B)		9,836		7,193
Merrill Lynch Mortgage Investors Trust
Series 2003-A4, Class 2A,
4.82% (A), 07/25/2033		37,516		37,555
Series 2003-A5, Class 2A6,
4.04% (A), 08/25/2033		29,290		29,874
Series 2004-1, Class 2A1,
3.83% (A), 12/25/2034		106,263		107,874
Series 2004-A4, Class A2,
4.35% (A), 08/25/2034		47,524		49,203
Series 2004-D, Class A2,
6-Month LIBOR + 0.72%, 2.76% (A), 09/25/2029		93,360		91,503
ML-CFC Commercial Mortgage Trust, Interest Only STRIPS
Series 2006-4, Class XC,
0.75% (A), 12/12/2049 (B)		202,612		2

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Capital I Trust, Interest Only STRIPS
Series 2006-IQ12, Class X1,
0.73% (A), 12/15/2043 (B)		$   424,885		$   4
Series 2006-T21, Class X,
0.08% (A), 10/12/2052 (B)		3,700,936		2,435
Series 2007-HQ11, Class X,
0.41% (A), 02/12/2044 (B)		383,567		123
Morgan Stanley Mortgage Loan Trust
Series 2004-3, Class 4A,
5.61% (A), 04/25/2034		134,306		146,134
MRCD Mortgage Trust
Series 2019-PARK, Class D,
2.72%, 12/15/2036 (B)		1,443,000		1,425,548
Prime Mortgage Trust
Series 2004-CL1, Class 1A1,
6.00%, 02/25/2034		45,891		49,073
Prime Mortgage Trust, Principal Only STRIPS
Series 2004-CL1, Class 1,
Zero Coupon, 02/25/2034		3,006		2,539
Provident Funding Mortgage Loan Trust
Series 2005-1, Class 2A1,
4.68% (A), 05/25/2035		5,061		5,053
RAMP Trust
Series 2004-SL2, Class A3,
7.00%, 10/25/2031		82,852		87,596
RBSSP Resecuritization Trust
Series 2009-1, Class 1A1,
6.50% (A), 02/26/2036 (B)		131,307		135,721
Seasoned Credit Risk Transfer Trust
Series 2019-1, Class MT,
3.50%, 07/25/2058		2,567,916		2,705,147
Series 2019-3, Class MB,
3.50%, 10/25/2058		981,274		1,075,525
Series 2019-4, Class M55D,
4.00%, 02/25/2059		1,991,975		2,104,173
Sequoia Mortgage Trust
Series 2004-11, Class A1,
1-Month LIBOR + 0.60%, 2.26% (A), 12/20/2034		174,463		176,238
Series 2004-11, Class A3,
1-Month LIBOR + 0.60%, 2.26% (A), 12/20/2034		63,767		63,447
Series 2004-12, Class A3,
6-Month LIBOR + 0.32%, 2.22% (A), 01/20/2035		79,030		75,839
Structured Asset Mortgage Investments II Trust
Series 2004-AR5, Class 1A1,
1-Month LIBOR + 0.66%, 2.32% (A), 10/19/2034		181,248		183,160
Structured Asset Securities Corp.
Series 2003-37A, Class 2A,
4.14% (A), 12/25/2033		43,920		45,281
Series 2004-4XS, Class 1A5,
5.11% (A), 02/25/2034		236,578		243,510
Thornburg Mortgage Securities Trust
Series 2003-4, Class A1,
1-Month LIBOR + 0.64%, 2.30% (A), 09/25/2043		89,868		91,458
Series 2004-1, Class II2A,
3.29% (A), 03/25/2044		35,921		36,200
Toorak Mortgage Corp., Ltd.
Series 2019-2, Class A1,
3.72% (A), 09/25/2022		1,548,000		1,556,090

The notes are an integral part of this report. Transamerica Funds Page    16

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
UBS-BAMLL Trust
Series 2012-WRM, Class A,
3.66%, 06/10/2030 (B)		$   1,000,000		$   1,029,380
UBS-Barclays Commercial Mortgage Trust
Series 2012-C2, Class A4,
3.53%, 05/10/2063		650,000		674,048
Series 2012-C2, Class XA,
1.46% (A), 05/10/2063 (B)		4,137,204		108,058
V.M. Jog Engineering, Ltd.
Series 2017, Class A,
1-Month LIBOR + 4.60%, 6.56% (A), 12/15/2020		2,090,000		2,090,000
VNDO Mortgage Trust
Series 2012-6AVE, Class A,
3.00%, 11/15/2030 (B)		1,000,000		1,029,369
Wachovia Bank Commercial Mortgage Trust, Interest Only STRIPS
Series 2006-C24, Class XC,
0.01% (A), 03/15/2045 (B)		528,022		5
WaMu Mortgage Pass-Through Certificates Trust
Series 2003-AR6, Class A1,
4.70% (A), 06/25/2033		149,705		152,981
Series 2003-AR7, Class A7,
4.44% (A), 08/25/2033		53,982		54,799
Series 2003-AR8, Class A,
4.40% (A), 08/25/2033		21,699		22,180
Series 2003-AR9, Class 1A6,
4.33% (A), 09/25/2033		114,619		117,520
Series 2003-S3, Class 1A4,
5.50%, 06/25/2033		154,039		157,960
Series 2003-S4, Class 2A10,
(2.75) * 1-Month LIBOR + 17.46%, 12.90% (A), 06/25/2033		6,701		8,572
Series 2003-S9, Class A8,
5.25%, 10/25/2033		67,667		69,070
Series 2004-AR3, Class A1,
4.49% (A), 06/25/2034		14,901		15,245
Series 2004-AR3, Class A2,
4.49% (A), 06/25/2034		153,264		156,414
Series 2004-S2, Class 2A4,
5.50%, 06/25/2034		155,068		164,871
Washington Mutual MSC Mortgage Pass-Through Certificates Trust
Series 2004-RA2, Class 2A,
7.00%, 07/25/2033		42,454		45,761
Wells Fargo Commercial Mortgage Trust
Series 2014-LC16, Class A2,
2.82%, 08/15/2050		19,826		19,808
Series 2016-C35, Class A4,
2.93%, 07/15/2048		1,915,000		2,016,910
Wells Fargo Mortgage-Backed Securities Trust
Series 2004-U, Class A1,
4.62% (A), 10/25/2034		305,706		305,419
WFRBS Commercial Mortgage Trust
Series 2011-C3, Class A4,
4.38%, 03/15/2044 (B)		534,116		543,699
Total Mortgage-Backed Securities (Cost $38,810,527)				39,801,803
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.5%
California - 0.1%
State of California, General Obligation Unlimited,
7.30%, 10/01/2039		520,000		831,397

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New York - 0.2%
New York State Dormitory Authority, Revenue Bonds,
5.60%, 03/15/2040		$   280,000		$   370,272
Port Authority of New York & New Jersey, Revenue Bonds
4.46%, 10/01/2062		800,000		1,079,784
5.65%, 11/01/2040		655,000		931,155
				2,381,211
Ohio - 0.2%
American Municipal Power, Inc., Revenue Bonds,
Series B,
7.50%, 02/15/2050		640,000		1,054,304
Ohio State University, Revenue Bonds,
Series A,
4.80%, 06/01/2111		1,370,000		1,918,808
				2,973,112
Total Municipal Government Obligations (Cost $4,421,161)				6,185,720
U.S. GOVERNMENT AGENCY OBLIGATIONS - 31.4%
Federal Home Loan Mortgage Corp.
3.50%, 06/01/2042 - 07/15/2042		2,228,664		2,366,908
12-Month LIBOR + 1.59%, 3.64% (A), 12/01/2036		150,408		157,173
6-Month LIBOR + 1.54%, 3.67% (A), 05/01/2037		60,565		62,807
12-Month LIBOR + 1.64%, 3.77% (A), 11/01/2036		35,746		37,310
12-Month LIBOR + 1.91%, 3.91% (A), 04/01/2037		1,361		1,402
6-Month LIBOR + 1.70%, 3.98% (A), 10/01/2036		18,521		19,188
12-Month LIBOR + 2.00%, 4.00% (A), 11/01/2036		6,634		6,926
4.00%, 04/01/2043 - 09/01/2049		5,495,666		5,864,877
1-Year CMT + 2.24%, 4.05% (A), 11/01/2036		123,989		131,334
12-Month LIBOR + 1.67%, 4.09% (A), 12/01/2036		106,037		111,349
6-Month LIBOR + 2.01%, 4.09% (A), 05/01/2037		36,037		37,999
12-Month LIBOR + 1.82%, 4.22% (A), 09/01/2037		20,295		21,407
1-Year CMT + 2.25%, 4.30% (A), 02/01/2036		226,730		239,926
12-Month LIBOR + 1.70%, 4.35% (A), 02/01/2037		22,481		23,624
1-Year CMT + 2.36%, 4.49% (A), 10/01/2037		16,456		17,300
4.50%, 05/01/2041 - 07/01/2047		10,405,485		11,332,721
1-Year CMT + 2.25%, 4.55% (A), 01/01/2035		245,002		258,814
1-Year CMT + 2.25%, 4.58% (A), 07/01/2036		163,365		172,768
1-Year CMT + 2.65%, 4.59% (A), 10/01/2037		92,407		91,410
1-Year CMT + 2.43%, 4.77% (A), 12/01/2031		241,849		255,756
12-Month LIBOR + 1.90%, 4.94% (A), 05/01/2038		13,214		14,109

The notes are an integral part of this report. Transamerica Funds Page    17

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal Home Loan Mortgage Corp. (continued)
12-Month LIBOR + 2.47%, 5.00% (A), 03/01/2036		$   74,724		$   80,509
5.00%, 08/01/2040		269,132		298,878
12-Month LIBOR + 1.98%, 5.00% (A), 04/01/2037		17,289		18,215
12-Month LIBOR + 2.03%, 5.05% (A), 05/01/2037		32,162		34,017
12-Month LIBOR + 2.18%, 5.06% (A), 05/01/2037		90,497		96,607
12-Month LIBOR + 2.33%, 5.22% (A), 05/01/2036		21,231		22,650
12-Month LIBOR + 2.35%, 5.48% (A), 03/01/2037		29,193		30,581
5.50%, 02/01/2021 - 12/01/2035		570,965		610,391
6.00%, 12/01/2036 - 06/01/2037		175,475		194,093
6.50%, 05/01/2035 - 03/01/2038		824,066		943,416
7.50%, 02/01/2038 - 09/01/2038		36,962		42,711
10.00%, 03/17/2026 - 10/01/2030		10,052		10,552
11.00%, 02/17/2021		632		636
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
2.27%, 01/25/2023		2,500,000		2,537,675
2.31%, 12/25/2022		2,461,302		2,503,375
2.33%, 06/25/2021		2,100,000		2,109,357
1-Month LIBOR + 0.70%, 2.46% (A), 09/25/2022		174,791		174,725
2.60%, 09/25/2020		5,710		5,720
2.72%, 07/25/2026		1,456,000		1,529,419
2.74%, 09/25/2025		1,000,000		1,045,833
2.81%, 09/25/2024		4,140,000		4,300,297
2.84%, 09/25/2022		784,009		804,352
2.93%, 01/25/2023		1,036,676		1,067,468
3.12%, 06/25/2027		654,000		709,098
3.24%, 04/25/2027		1,097,000		1,197,433
3.30% (A), 11/25/2027		965,000		1,062,811
3.33%, 05/25/2027		590,000		645,332
3.34% (A), 04/25/2028		970,000		1,047,057
3.35%, 01/25/2028		1,595,000		1,756,674
3.90% (A), 08/25/2028		1,720,000		1,982,824
Federal Home Loan Mortgage Corp. REMIC
1-Month LIBOR + 0.25%, 1.93% (A), 08/15/2023		103,061		102,784
1-Month LIBOR + 0.30%, 1.98% (A), 03/15/2036		28,905		28,707
1-Month LIBOR + 0.40%, 2.09% (A), 07/15/2037		477,950		477,018
1-Month LIBOR + 1.20%, 2.88% (A), 07/15/2039		19,104		19,556
4.00%, 11/15/2041 - 07/15/2042		3,203,742		3,692,837
4.50%, 06/15/2025		1,540,907		1,616,154
5.00%, 07/15/2033 - 07/15/2041		8,920,699		10,420,924
5.30%, 01/15/2033		324,925		366,630
5.50%, 02/15/2022 - 01/15/2039		2,304,518		2,577,662
(3.62) * 1-Month LIBOR + 27.21%, 5.50% (A), 05/15/2041		461,240		493,315
(3.67) * 1-Month LIBOR + 27.50%, 5.50% (A), 05/15/2041		533,684		589,797
5.70% (A), 10/15/2038		196,310		215,980
6.00%, 05/15/2034 - 06/15/2038		1,345,206		1,561,335
6.25%, 10/15/2023		90,543		95,629
(1.50) * 1-Month LIBOR + 9.08%, 6.40% (A), 11/15/2033		53,594		56,839
6.50%, 08/15/2021 - 06/15/2032		729,954		805,515
7.00%, 12/15/2036		356,480		423,600
7.02% (A), 11/15/2021		14,885		15,090

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal Home Loan Mortgage Corp. REMIC (continued)
7.35% (A), 11/15/2046		$   488,303		$   580,611
7.50%, 11/15/2036 - 12/15/2036		439,726		530,285
(7.27) * 1-Month LIBOR + 48.00%, 8.00% (A), 06/15/2035		14,087		16,323
(1.83) * 1-Month LIBOR + 14.85%, 11.78% (A), 06/15/2033		25,114		31,759
(3.33) * 1-Month LIBOR + 17.50%, 11.91% (A), 02/15/2040		329,156		440,152
(2.50) * 1-Month LIBOR + 17.45%, 13.26% (A), 02/15/2038		11,063		13,363
(3.00) * 1-Month LIBOR + 20.22%, 15.19% (A), 07/15/2035		24,982		34,686
(4.00) * 1-Month LIBOR + 22.00%, 15.30% (A), 05/15/2035		39,927		55,966
(2.60) * 1-Month LIBOR + 20.93%, 16.57% (A), 08/15/2031		33,445		45,925
(4.50) * 1-Month LIBOR + 24.75%, 17.21% (A), 06/15/2035		58,526		100,832
Federal Home Loan Mortgage Corp. REMIC, Interest Only STRIPS
2.43% (A), 01/15/2040		361,280		19,881
4.00%, 11/15/2029		227,481		5,565
(1.00) * 1-Month LIBOR + 6.00%, 4.32% (A), 11/15/2037 - 10/15/2040		705,137		114,775
(1.00) * 1-Month LIBOR + 6.05%, 4.37% (A), 05/15/2038		105,821		13,369
(1.00) * 1-Month LIBOR + 6.10%, 4.42% (A), 05/15/2039		48,125		3,319
4.50%, 12/15/2024		2,735		35
(1.00) * 1-Month LIBOR + 6.25%, 4.57% (A), 12/15/2039		156,955		27,551
(1.00) * 1-Month LIBOR + 6.34%, 4.66% (A), 12/15/2039		455,171		75,532
(1.00) * 1-Month LIBOR + 6.40%, 4.72% (A), 01/15/2037		45,407		6,109
(1.00) * 1-Month LIBOR + 6.45%, 4.77% (A), 11/15/2037		20,381		3,746
5.00%, 04/15/2032 (J)		1,002		0
5.00%, 10/15/2039 - 08/15/2040		859,032		84,742
(1.00) * 1-Month LIBOR + 6.80%, 5.12% (A), 09/15/2039		143,571		20,373
Federal Home Loan Mortgage Corp. REMIC, Principal Only STRIPS
04/15/2020 - 12/15/2043		4,046,205		3,651,132
Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates
2.29% (A), 10/25/2037		324,993		353,708
5.23%, 05/25/2043		755,570		852,495
6.50%, 02/25/2043		249,282		296,074
6.50% (A), 09/25/2043		110,672		132,576
7.00%, 02/25/2043 - 07/25/2043		286,969		348,643
7.50%, 02/25/2042 - 09/25/2043		355,803		426,480
Federal Home Loan Mortgage Corp., Interest Only STRIPS
(1.00) * 1-Month LIBOR + 7.70%, 6.02% (A), 08/15/2036		315,285		75,136
Federal National Mortgage Association
1-Month LIBOR + 0.22%, 1.88% (A), 03/25/2045 - 02/25/2046		120,227		120,093
1-Month LIBOR + 0.40%, 2.06% (A), 05/25/2042		186,525		186,121
2.15%, 01/25/2023		1,590,366		1,604,908
1-Month LIBOR + 0.55%, 2.21% (A), 08/25/2042		704,358		705,958
2.38%, 10/01/2026		1,493,666		1,551,701
2.43%, 08/01/2026		1,904,745		1,975,809
2.49%, 05/01/2026 - 05/25/2026		2,989,028		3,102,574

The notes are an integral part of this report. Transamerica Funds Page    18

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
2.57% (A), 12/25/2026		$   415,806		$   434,913
2.61%, 06/01/2026		1,012,000		1,061,826
2.62%, 11/01/2031		4,165,000		4,372,745
2.63%, 03/01/2026		2,903,291		3,033,918
2.64%, 06/01/2026		2,477,000		2,598,883
1-Month LIBOR + 0.93%, 2.66% (A), 11/25/2022		340,562		341,175
2.67%, 04/01/2025		1,136,996		1,183,801
2.70%, 07/01/2026		1,272,347		1,340,229
2.80%, 10/01/2025 - 01/01/2028		14,737,748		15,494,563
2.90%, 06/25/2027		2,039,022		2,151,157
2.92%, 01/01/2025		2,510,000		2,638,345
2.93%, 06/01/2030		1,000,000		1,071,978
2.94% (A), 01/25/2026		3,486,000		3,681,635
2.94%, 12/01/2028		5,000,000		5,405,769
2.98%, 06/01/2027		1,715,000		1,834,550
2.99%, 08/01/2029		3,000,000		3,262,112
3.00%, 06/01/2043		1,115,307		1,161,622
3.02%, 07/01/2024 - 05/01/2030		13,052,220		14,031,539
3.04%, 06/01/2024 - 07/01/2029		6,873,971		7,421,842
3.06% (A), 05/25/2027		1,700,000		1,827,259
3.08%, 12/01/2024		1,859,775		1,962,954
3.09%, 09/01/2029		3,797,000		4,154,143
3.11%, 03/01/2027		1,939,159		2,091,878
3.15% (A), 03/25/2028		1,138,000		1,229,498
3.15%, 04/01/2031		2,992,901		3,220,829
3.17%, 02/01/2030		967,646		1,054,040
3.18% (A), 06/25/2027		1,771,000		1,912,165
3.19% (A), 02/25/2030		815,000		891,560
3.21%, 03/01/2029		5,000,000		5,488,571
3.24%, 06/01/2026		905,283		976,220
3.28%, 11/01/2030		1,965,383		2,159,155
3.29%, 08/01/2026		1,993,069		2,166,871
3.30% (A), 04/25/2029		1,419,000		1,552,896
3.32%, 04/01/2029		5,000,000		5,529,285
3.37%, 05/01/2037		904,688		1,006,058
3.38%, 12/01/2029		783,138		862,540
3.45%, 04/01/2029		3,867,000		4,293,200
6-Month LIBOR + 1.29%, 3.49% (A), 07/01/2037		56,530		58,096
3.50% (A), 07/25/2028		2,032,000		2,245,125
3.50%, 04/01/2043 - 01/01/2044		2,309,703		2,436,344
3.52%, 10/01/2029		798,732		885,336
3.57%, 07/01/2028		2,450,590		2,725,571
6-Month LIBOR + 1.31%, 3.59% (A), 09/01/2036		27,889		28,665
3.59%, 01/01/2031		931,262		1,043,022
12-Month LIBOR + 1.46%, 3.71% (A), 09/01/2037		23,870		24,979
3.73%, 05/01/2029		848,755		958,553
12-Month LIBOR + 1.39%, 3.74% (A), 11/01/2037		42,966		44,656
12-Month LIBOR + 1.86%, 3.75% (A), 11/01/2036		16,487		17,279
3.76%, 12/01/2035		1,881,659		2,148,792
3.82%, 07/01/2030		2,502,000		2,885,147
6-Month LIBOR + 1.48%, 3.87% (A), 02/01/2037		45,802		47,369
12-Month LIBOR + 1.63%, 3.88% (A), 09/01/2036		91,074		94,852
6-Month LIBOR + 1.54%, 3.88% (A), 02/01/2037		20,602		21,364
12-Month LIBOR + 1.81%, 3.89% (A), 12/01/2036		20,280		21,295
3.90%, 09/01/2021		858,864		880,240
12-Month LIBOR + 1.94%, 3.94% (A), 12/01/2036		49,730		52,229

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
3.97%, 12/01/2025		$   406,125		$   448,409
12-Month LIBOR + 1.77%, 3.97% (A), 10/01/2036		23,891		24,970
4.00%, 01/01/2043 - 08/01/2048		6,445,881		6,840,648
4.02%, 11/01/2028		631,201		721,151
4.05%, 01/01/2021		1,565,000		1,580,967
12-Month LIBOR + 1.82%, 4.07% (A), 09/01/2036		17,444		18,261
12-Month LIBOR + 1.64%, 4.11% (A), 07/01/2037		29,048		30,487
1-Year CMT + 2.06%, 4.21% (A), 11/01/2037		83,032		87,709
12-Month LIBOR + 1.88%, 4.22% (A), 08/01/2036		4,274		4,334
4.23%, 02/01/2029		4,012,813		4,640,074
12-Month LIBOR + 2.28%, 4.23% (A), 11/01/2036		7,613		8,070
4.25%, 04/01/2021		2,500,000		2,546,188
4.26%, 07/01/2021		2,371,903		2,430,918
4.34%, 06/01/2021		7,000,000		7,164,452
12-Month LIBOR + 1.80%, 4.34% (A), 07/01/2037		27,540		29,166
4.45%, 07/01/2026		1,308,625		1,506,493
4.50%, 08/01/2021		3,000,000		3,089,296
4.55%, 06/25/2043		79,467		86,378
12-Month LIBOR + 1.84%, 4.61% (A), 06/01/2036		64,317		68,009
12-Month LIBOR + 1.62%, 4.64% (A), 04/01/2037		10,028		10,539
6-Month LIBOR + 2.50%, 4.70% (A), 03/01/2036		162,736		174,188
12-Month LIBOR + 1.83%, 4.70% (A), 05/01/2036		62,074		65,393
12-Month LIBOR + 1.66%, 4.72% (A), 04/01/2036		32,770		34,316
12-Month LIBOR + 2.37%, 4.99% (A), 08/01/2037		27,527		29,366
5.00%, 04/01/2022 - 08/01/2040		677,709		751,383
12-Month LIBOR + 2.38%, 5.11% (A), 03/01/2036		79,664		85,480
5.50%, 11/01/2032 - 07/01/2037		1,209,502		1,336,937
6.00%, 05/01/2020 - 11/01/2037		1,953,052		2,148,020
6.50%, 06/01/2023 - 07/25/2042		1,253,471		1,420,269
7.00%, 12/25/2033 - 02/25/2044		1,010,507		1,178,529
7.50%, 10/01/2037 - 12/25/2045		599,446		723,505
8.00%, 10/01/2031		55,254		62,149
Federal National Mortgage Association REMIC
1-Month LIBOR + 0.24%, 1.90% (A), 10/25/2046		112,362		112,204
1-Month LIBOR + 0.29%, 1.95% (A), 07/25/2036		102,640		101,995
1-Month LIBOR + 0.40%, 2.06% (A), 06/25/2037		25,300		25,244
1-Month LIBOR + 0.25%, 2.11% (A), 06/27/2036		145,728		143,209
1-Month LIBOR + 0.55%, 2.21% (A), 08/25/2041		252,482		254,697
1-Month LIBOR + 0.60%, 2.26% (A), 04/25/2040		192,161		193,460
3.00%, 01/25/2046		738,859		770,897
3.50%, 02/25/2043		890,647		955,930
4.41% (A), 12/25/2039		131,400		137,016
4.50%, 02/25/2039 - 05/25/2041		964,136		1,066,004
5.50%, 08/25/2025 - 10/25/2040		6,042,320		6,864,415
5.61% (K), 01/25/2032		49,639		52,856
5.75%, 08/25/2034		812,866		911,439

The notes are an integral part of this report. Transamerica Funds Page    19

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association REMIC (continued)
5.79% (A), 12/25/2042		$   100,999		$   110,359
5.89% (A), 05/25/2051		174,161		199,860
5.99% (A), 06/25/2040		137,884		156,942
6.00%, 03/25/2029 - 12/25/2049		1,848,362		2,078,461
6.21% (A), 02/25/2040		167,109		185,840
6.25%, 09/25/2038		22,453		25,421
6.44% (A), 03/25/2040		222,622		256,954
6.50%, 04/18/2028 - 11/25/2041		649,195		746,195
6.75%, 04/25/2037		50,498		55,899
7.00%, 03/25/2038 - 11/25/2041		1,460,209		1,702,179
7.50%, 05/17/2024		59,596		63,939
8.00%, 02/25/2023		195,538		208,092
(2.00) * 1-Month LIBOR + 12.66%, 9.34% (A), 03/25/2040		221,183		270,376
(3.33) * 1-Month LIBOR + 17.67%, 12.13% (A), 04/25/2040		172,036		224,340
(2.50) * 1-Month LIBOR + 16.88%, 12.72% (A), 08/25/2035 - 10/25/2035		55,921		73,827
(2.00) * 1-Month LIBOR + 16.20%, 12.88% (A), 01/25/2034		13,783		16,203
(2.75) * 1-Month LIBOR + 17.88%, 13.31% (A), 09/25/2024		71,266		82,374
(2.75) * 1-Month LIBOR + 19.53%, 14.96% (A), 05/25/2034		97,799		141,297
(2.75) * 1-Month LIBOR + 20.13%, 15.56% (A), 05/25/2035		114,015		142,746
(3.33) * 1-Month LIBOR + 22.67%, 17.13% (A), 04/25/2037		54,497		84,898
(3.67) * 1-Month LIBOR + 24.57%, 18.48% (A), 11/25/2035		56,962		80,802
Federal National Mortgage Association REMIC, Interest Only STRIPS
1.43% (A), 01/25/2038		53,291		2,321
2.44% (A), 04/25/2041		236,880		13,500
(1.00) * 1-Month LIBOR + 4.44%, 2.78% (A), 11/25/2040		743,350		74,811
3.00%, 01/25/2021		71,329		748
(1.00) * 1-Month LIBOR + 5.00%, 3.34% (A), 07/25/2040		744,650		93,305
(1.00) * 1-Month LIBOR + 5.90%, 4.24% (A), 10/25/2039		31,876		3,695
(1.00) * 1-Month LIBOR + 6.00%, 4.34% (A), 02/25/2038 - 06/25/2039		640,387		75,782
(1.00) * 1-Month LIBOR + 6.18%, 4.52% (A), 12/25/2039		10,170		1,221
(1.00) * 1-Month LIBOR + 6.25%, 4.59% (A), 01/25/2040		234,853		46,628
(1.00) * 1-Month LIBOR + 6.35%, 4.69% (A), 12/25/2037		493,293		75,890
(1.00) * 1-Month LIBOR + 6.40%, 4.74% (A), 07/25/2037 - 05/25/2040		575,424		106,291
(1.00) * 1-Month LIBOR + 6.42%, 4.76% (A), 04/25/2040		87,691		11,774
(1.00) * 1-Month LIBOR + 6.45%, 4.79% (A), 10/25/2037 - 12/25/2037		253,694		43,556
(1.00) * 1-Month LIBOR + 6.62%, 4.96% (A), 07/25/2037		125,137		17,995
(1.00) * 1-Month LIBOR + 6.65%, 4.99% (A), 10/25/2026 - 03/25/2039		463,788		58,540
5.00%, 07/25/2039		66,569		11,518
(1.00) * 1-Month LIBOR + 6.70%, 5.04% (A), 03/25/2036		962,207		200,000
(1.00) * 1-Month LIBOR + 6.99%, 5.33% (A), 03/25/2038		124,981		24,693
(1.00) * 1-Month LIBOR + 7.10%, 5.44% (A), 02/25/2040		99,542		16,451
5.50%, 10/25/2039		94,665		16,802

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association REMIC, Principal Only STRIPS
10/25/2023 - 12/25/2043		$   2,638,284		$   2,431,069
Federal National Mortgage Association, Principal Only STRIPS
09/25/2024 - 08/25/2032		328,027		309,939
FREMF Mortgage Trust
3.70% (A), 11/25/2049 (B)		920,000		962,011
3.81% (A), 01/25/2048 (B)		4,355,000		4,591,514
3.81% (A), 01/25/2048 (B)		1,405,000		1,452,142
3.96% (A), 11/25/2047 (B)		2,000,000		2,138,047
3.97% (A), 07/25/2049 (B)		750,000		783,128
4.21% (A), 11/25/2047 (B)		853,000		904,477
Government National Mortgage Association
1-Month LIBOR + 0.45%, 2.14% (A), 03/20/2060		9,199		9,148
1-Month LIBOR + 0.47%, 2.16% (A), 05/20/2063		1,366,678		1,365,403
1-Month LIBOR + 0.50%, 2.19% (A), 06/20/2067		1,952,334		1,951,188
1-Month LIBOR + 0.52%, 2.21% (A), 10/20/2062		1,149,999		1,150,146
1-Month LIBOR + 0.53%, 2.22% (A), 10/20/2062		1,067,270		1,073,153
1-Month LIBOR + 0.58%, 2.27% (A), 05/20/2066		924,484		925,296
1-Month LIBOR + 0.60%, 2.29% (A), 11/20/2065		2,722,062		2,730,764
1-Month LIBOR + 0.65%, 2.34% (A), 05/20/2061 - 01/20/2066		5,408,942		5,432,770
1-Month LIBOR + 0.70%, 2.39% (A), 05/20/2061 - 03/20/2066		4,459,186		4,485,565
1-Month LIBOR + 1.00%, 2.69% (A), 12/20/2066		743,146		754,339
4.50%, 11/20/2034 - 11/20/2049		3,759,925		4,115,069
5.50%, 01/16/2033 - 09/20/2039		3,182,768		3,557,995
5.75%, 02/20/2036 - 10/20/2037		499,552		550,017
5.82% (A), 10/20/2033		203,364		231,057
6.00%, 11/20/2033 - 08/20/2038		737,834		828,329
6.50%, 12/20/2031 - 12/15/2035		669,351		752,718
7.00%, 09/15/2031 - 10/16/2040		707,822		811,007
(6.25) * 1-Month LIBOR + 44.50%, 7.00% (A), 09/20/2034		10,860		11,710
7.50%, 09/16/2035 - 10/15/2037		128,150		151,822
(1.83) * 1-Month LIBOR + 14.70%, 11.64% (A), 11/17/2032		17,120		18,964
(2.92) * 1-Month LIBOR + 17.50%, 12.67% (A), 02/20/2034		41,813		52,624
(3.50) * 1-Month LIBOR + 23.28%, 17.47% (A), 04/20/2037		113,760		168,220
Government National Mortgage Association, Interest Only STRIPS
1.66% (A), 06/20/2067		4,572,728		401,029
(1.00) * 1-Month LIBOR + 5.83%, 4.17% (A), 02/20/2038		58,528		6,661
(1.00) * 1-Month LIBOR + 5.90%, 4.24% (A), 09/20/2038		377,201		65,015
(1.00) * 1-Month LIBOR + 5.95%, 4.29% (A), 02/20/2039 - 06/20/2039		150,753		17,572
(1.00) * 1-Month LIBOR + 6.00%, 4.34% (A), 02/20/2038		622,070		85,047
(1.00) * 1-Month LIBOR + 6.05%, 4.38% (A), 08/16/2039		218,281		28,386
(1.00) * 1-Month LIBOR + 6.04%, 4.38% (A), 02/20/2039		49,849		4,435

The notes are an integral part of this report. Transamerica Funds Page    20

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Government National Mortgage Association, Interest Only STRIPS (continued)
(1.00) * 1-Month LIBOR + 6.10%, 4.43% (A), 07/16/2039		$   233,912		$   30,564
(1.00) * 1-Month LIBOR + 6.09%, 4.43% (A), 09/20/2039		369,644		71,662
(1.00) * 1-Month LIBOR + 6.10%, 4.44% (A), 11/20/2034		298,905		34,987
(1.00) * 1-Month LIBOR + 6.15%, 4.49% (A), 07/20/2038		421,824		61,185
(1.00) * 1-Month LIBOR + 6.20%, 4.54% (A), 03/20/2037 - 06/20/2038		159,974		24,365
(1.00) * 1-Month LIBOR + 6.30%, 4.64% (A), 03/20/2039		3,085		20
(1.00) * 1-Month LIBOR + 6.40%, 4.73% (A), 06/16/2039 - 11/16/2039		269,954		31,779
(1.00) * 1-Month LIBOR + 6.40%, 4.74% (A), 12/20/2038		58,520		3,387
(1.00) * 1-Month LIBOR + 6.55%, 4.88% (A), 11/16/2033		63,319		6,990
(1.00) * 1-Month LIBOR + 6.55%, 4.89% (A), 11/20/2037		38,946		6,362
(1.00) * 1-Month LIBOR + 6.60%, 4.94% (A), 05/20/2041		249,113		43,250
(1.00) * 1-Month LIBOR + 6.68%, 5.02% (A), 07/20/2037		237,489		43,364
(1.00) * 1-Month LIBOR + 6.70%, 5.04% (A), 06/20/2037		444,224		70,481
(1.00) * 1-Month LIBOR + 7.30%, 5.64% (A), 12/20/2038		250,118		50,741
(1.00) * 1-Month LIBOR + 7.60%, 5.94% (A), 09/20/2038		29,017		3,967
(1.00) * 1-Month LIBOR + 7.70%, 6.03% (A), 04/16/2038		23,016		3,857
6.50%, 03/20/2039		33,962		6,320
Government National Mortgage Association, Principal Only STRIPS
12/20/2032 - 12/20/2040		912,695		836,606
Government Trust Certificate
Series 2001-Z,
Zero Coupon, 04/01/2020		10,890,000		10,858,791
National Credit Union Administration Guaranteed Notes Trust
Series 2010-R3, Class 3A,
2.40%, 12/08/2020		18,616		18,754
Residual Funding Corp., Principal Only STRIPS
07/15/2020 - 01/15/2030		4,790,000		4,414,883
Resolution Funding Corp., Principal Only STRIPS
01/15/2026 - 10/15/2027		140,000		123,466
Tennessee Valley Authority
4.25%, 09/15/2065		365,000		518,093
4.63%, 09/15/2060		451,000		669,030
5.88%, 04/01/2036		2,565,000		3,789,924
Tennessee Valley Authority, Principal Only STRIPS
11/01/2025 - 05/01/2030		3,300,000		2,852,373
Vendee Mortgage Trust
6.75%, 06/15/2028		201,790		228,778
7.25%, 02/15/2023		153,261		163,356
Total U.S. Government Agency Obligations (Cost $337,178,660)				349,789,187
U.S. GOVERNMENT OBLIGATIONS - 24.0%
U.S. Treasury - 23.4%
U.S. Treasury Bond
2.38%, 11/15/2049		45,000		48,660

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury (continued)
U.S. Treasury Bond (continued)
2.50%, 02/15/2045		$   2,300,000		$   2,512,031
2.75%, 08/15/2042 - 11/15/2042		3,548,000		4,044,190
2.88%, 08/15/2045		2,000,000		2,338,438
3.00%, 02/15/2048		430,000		520,418
3.13%, 02/15/2043 - 05/15/2048		2,841,000		3,443,609
3.38%, 05/15/2044		3,000,000		3,784,922
3.63%, 08/15/2043 - 02/15/2044		10,190,000		13,319,033
3.75%, 11/15/2043		19,490,000		25,947,585
3.88%, 08/15/2040		60,000		80,358
4.38%, 02/15/2038 - 05/15/2041		2,799,000		3,999,534
5.38%, 02/15/2031		29,000		40,265
U.S. Treasury Bond, Principal Only STRIPS
05/15/2020 - 08/15/2041		84,270,000		75,641,971
08/15/2022 (G)		355,000		343,030
U.S. Treasury Note
1.25%, 10/31/2021		4,800,000		4,789,687
1.50%, 02/28/2023 - 08/15/2026		5,142,000		5,172,013
1.63%, 10/31/2023 - 08/15/2029		7,878,400		7,967,358
1.75%, 02/28/2022 - 05/15/2023		33,899,000		34,253,773
1.75%, 12/31/2024 - 11/15/2029 (G)		7,885,200		8,044,134
1.88%, 11/30/2021 - 08/31/2024		7,198,000		7,290,420
2.00%, 10/31/2021 - 11/15/2026		5,915,800		5,997,021
2.13%, 01/31/2021 - 03/31/2024		3,279,000		3,345,433
2.25%, 11/15/2024 - 02/15/2027		4,435,000		4,633,415
2.38%, 08/15/2024		15,000,000		15,689,648
2.50%, 08/15/2023 - 05/15/2024		10,148,000		10,565,756
2.63%, 05/15/2021		2,163,600		2,195,885
2.75%, 05/31/2023 - 02/15/2024		6,334,000		6,686,362
2.88%, 05/31/2025 - 05/15/2028		3,052,000		3,310,069
U.S. Treasury Strip Coupon, Principal Only STRIPS
Zero Coupon, 11/15/2041		7,200,000		4,583,166
				260,588,184
U.S. Treasury Inflation-Protected Securities - 0.6%
U.S. Treasury Inflation-Indexed Bond
2.50%, 01/15/2029		2,995,025		3,696,956
U.S. Treasury Inflation-Indexed Note
0.13%, 01/15/2022		3,303,573		3,311,372
				7,008,328
Total U.S. Government Obligations (Cost $247,976,680)				267,596,512
	Shares		Value
OTHER INVESTMENT COMPANY - 1.4%
Securities Lending Collateral - 1.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (L)		15,201,808		15,201,808
Total Other Investment Company (Cost $15,201,808)				15,201,808

The notes are an integral part of this report. Transamerica Funds Page    21

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
REPURCHASE AGREEMENT - 1.0%
Fixed Income Clearing Corp., 0.85% (L), dated 01/31/2020, to be repurchased at $11,503,698 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $11,736,472.		$  11,502,883		$   11,502,883
Total Repurchase Agreement (Cost $11,502,883)				11,502,883
Total Investments (Cost $1,063,163,058)				1,122,967,925
Net Other Assets (Liabilities) - (0.8)%				(9,266,484	)
Net Assets - 100.0%				$  1,113,701,441

SECURITY VALUATION:

Valuation Inputs ^(M)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (N)		Value
ASSETS
Investments
Asset-Backed Securities	$	—	$	146,009,991	$	3,264,405	$	149,274,396
Corporate Debt Securities		—		275,745,064		—		275,745,064
Foreign Government Obligations		—		7,870,552		—		7,870,552
Mortgage-Backed Securities		—		39,801,803		—		39,801,803
Municipal Government Obligations		—		6,185,720		—		6,185,720
U.S. Government Agency Obligations		—		349,789,187		—		349,789,187
U.S. Government Obligations		—		267,596,512		—		267,596,512
Other Investment Company		15,201,808		—		—		15,201,808
Repurchase Agreement		—		11,502,883		—		11,502,883
Total Investments	$	15,201,808	$	1,104,501,712	$	3,264,405	$	1,122,967,925

Transfers

Investments	Transfers from Level 1 to Level 3		Transfers from Level 3 to Level 1		Transfers from Level 2 to Level 3		Transfers from Level 3 to Level 2
Asset-Backed Securities (E)	$	—	$	—	$	1,400,000	$	—

The notes are an integral part of this report. Transamerica Funds Page    22

Transamerica Core Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(B)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $212,581,793, representing 19.1% of the Fund’s net assets.
(C)	Securities are Level 3 of the fair value hierarchy.
(D)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $3,264,405, representing 0.3% of the Fund’s net assets.
(E)	Transferred from Level 2 to 3 due to utilizing significant unobservable inputs. As of prior reporting period, the security utilized significant observable inputs.
(F)	Percentage rounds to less than 0.1% or (0.1)%.
(G)	All or a portion of the securities are on loan. The total value of all securities on loan is $14,893,179. 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.
(H)	When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2020. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(I)	Perpetual maturity. The date displayed is the next call date.
(J)	Rounds to less than $1 or $(1).
(K)	Step bond. Coupon rate changes in increments to maturity. The rate disclosed is as of January 31, 2020; the maturity date disclosed is the ultimate maturity date.
(L)	Rates disclosed reflect the yields at January 31, 2020.
(M)	The Fund recognizes transfers in and out of Level 3 as of January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(N)	Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities

The notes are an integral part of this report. Transamerica Funds Page    23

Transamerica Dividend Focused

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.2%
Aerospace & Defense - 4.5%
General Dynamics Corp.		56,273		$  9,872,535
United Technologies Corp.		86,867		13,047,424
				22,919,959
Banks - 7.3%
JPMorgan Chase & Co.		76,676		10,148,836
US Bancorp		315,697		16,801,394
Wells Fargo & Co.		223,101		10,472,361
				37,422,591
Beverages - 2.2%
Molson Coors Beverage Co., Class B		202,003		11,227,327
Capital Markets - 2.9%
Northern Trust Corp.		149,319		14,604,891
Chemicals - 6.6%
Corteva, Inc.		428,342		12,387,650
DuPont de Nemours, Inc.		189,623		9,704,905
Linde PLC		56,290		11,434,188
				33,526,743
Consumer Finance - 2.6%
American Express Co.		103,929		13,497,259
Diversified Telecommunication Services - 6.4%
AT&T, Inc.		454,246		17,088,734
Verizon Communications, Inc.		262,790		15,620,238
				32,708,972
Electric Utilities - 7.4%
Entergy Corp.		136,809		17,993,120
Exelon Corp.		418,241		19,904,089
				37,897,209
Energy Equipment & Services - 1.6%
Schlumberger, Ltd.		249,592		8,363,828
Equity Real Estate Investment Trusts - 5.9%
Healthpeak Properties, Inc.		425,224		15,303,812
Simon Property Group, Inc.		109,654		14,600,430
				29,904,242
Health Care Equipment & Supplies - 3.6%
Medtronic PLC		158,537		18,301,511
Health Care Providers & Services - 9.5%
Cigna Corp.		55,164		10,612,450
CVS Health Corp.		303,804		20,603,987
UnitedHealth Group, Inc.		64,573		17,592,914
				48,809,351
Household Durables - 1.7%
Whirlpool Corp.		61,045		8,922,948
Industrial Conglomerates - 4.2%
General Electric Co.		1,732,384		21,568,181

	Shares		Value
COMMON STOCKS (continued)
Insurance - 3.6%
Chubb, Ltd.		121,181		$   18,418,300
Machinery - 3.8%
Stanley Black & Decker, Inc.		66,704		10,627,948
Westinghouse Air Brake Technologies Corp.		121,103		8,944,668
				19,572,616
Multi-Utilities - 4.9%
Dominion Energy, Inc.		293,608		25,176,886
Oil, Gas & Consumable Fuels - 9.9%
BP PLC, ADR		272,098		9,830,901
EOG Resources, Inc.		135,418		9,873,326
Hess Corp.		124,111		7,020,959
Phillips 66		136,866		12,505,447
Valero Energy Corp.		133,545		11,259,179
				50,489,812
Pharmaceuticals - 3.1%
Johnson & Johnson		105,727		15,739,578
Specialty Retail - 2.6%
Lowe’s Cos., Inc.		112,932		13,127,216
Thrifts & Mortgage Finance - 2.9%
New York Community Bancorp, Inc.		1,355,405		14,990,779
Total Common Stocks (Cost $459,085,596)				497,190,199
	Principal		Value
REPURCHASE AGREEMENT - 2.8%
Fixed Income Clearing Corp., 0.85% (A), dated 01/31/2020, to be repurchased at $14,525,929 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $14,815,651.		$  14,524,900		14,524,900
Total Repurchase Agreement (Cost $14,524,900)				14,524,900
Total Investments (Cost $473,610,496)				511,715,099
Net Other Assets (Liabilities) - 0.0% (B)				27,569
Net Assets - 100.0%				$  511,742,668

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Dividend Focused

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	497,190,199	$	—	$	—	$	497,190,199
Repurchase Agreement		—		14,524,900		—		14,524,900
Total Investments	$	497,190,199	$	14,524,900	$	—	$	511,715,099

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Rate disclosed reflects the yield at January 31, 2020.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Dynamic Income

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUNDS - 100.2%
International Fixed Income Funds - 27.5%
iShares Emerging Markets High Yield Bond ETF (A)		406,864		$  19,444,031
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF		770,486		25,872,920
				45,316,951
U.S. Equity Funds - 23.3%
Global SuperDividend U.S. ETF (A)		1,375,059		31,750,112
Invesco S&P 500 High Dividend Low Volatility ETF		154,517		6,505,166
				38,255,278
U.S. Fixed Income Funds - 42.4%
Invesco Senior Loan ETF (A)		227,886		5,152,502
iShares 20+ Year Treasury Bond ETF (A)		50,186		7,322,137
iShares Core 10+ Year USD Bond ETF		28,235		2,022,191
iShares MBS ETF		48,461		5,275,465
SPDR Bloomberg Barclays Short Term High Yield Bond ETF (A)		1,201,450		32,270,947
Vanguard Long-Term Bond ETF (A)		167,656		17,717,886
				69,761,128
U.S. Mixed Allocation Fund - 7.0%
Global X MLP ETF (A)		1,542,523		11,430,095
Total Exchange-Traded Funds (Cost $169,231,213)				164,763,452

	Shares		Value
OTHER INVESTMENT COMPANY - 25.5%
Securities Lending Collateral - 25.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (B)		42,028,361		$   42,028,361
Total Other Investment Company (Cost $42,028,361)				42,028,361
	Principal		Value
REPURCHASE AGREEMENT - 0.2%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $411,436 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $421,194.		$  411,406		411,406
Total Repurchase Agreement (Cost $411,406)				411,406
Total Investments (Cost $211,670,980)				207,203,219
Net Other Assets (Liabilities) - (25.9)%				(42,624,539	)
Net Assets - 100.0%				$  164,578,680

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Exchange-Traded Funds	$	164,763,452	$	—	$	—	$	164,763,452
Other Investment Company		42,028,361		—		—		42,028,361
Repurchase Agreement		—		411,406		—		411,406
Total Investments	$	206,791,813	$	411,406	$	—	$	207,203,219

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 $40,896,920. 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)	Rates disclosed reflect the yields at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES - 35.6%
Argentina - 0.9%
Pampa Energia SA
7.50%, 01/24/2027 (A)		$  3,020,000		$  2,623,716
YPF SA
8.50%, 07/28/2025 (A)		2,845,000		2,610,287
				5,234,003
Austria - 0.7%
Suzano Austria GmbH
7.00%, 03/16/2047 (A)		3,610,000		4,313,228
Bermuda - 0.8%
Digicel Group One, Ltd.
8.25%, 12/30/2022 (A)		3,073,000		1,982,085
Digicel, Ltd.
6.75%, 03/01/2023 (A)		4,670,000		3,000,475
				4,982,560
Brazil - 1.5%
BRF SA
4.88%, 01/24/2030 (A)		1,670,000		1,709,245
Centrais Electricas Brasilerias SA
4.63%, 02/04/2030		950,000		956,650
OI SA
PIK Rate 4.00%, Cash Rate 8.00%, 07/27/2025 (B)		4,955,000		4,563,004
Samarco Mineracao SA
4.13%, 11/01/2022 (A) (C)		2,575,000		1,667,313
				8,896,212
Canada - 0.7%
First Quantum Minerals, Ltd.
6.88%, 03/01/2026 (A)		3,115,000		3,005,975
7.25%, 04/01/2023 (A)		350,000		347,594
7.50%, 04/01/2025 (A)		800,000		788,000
				4,141,569
Cayman Islands - 2.9%
Bioceanico Sovereign Certificate, Ltd.
Zero Coupon, 06/05/2034 (A)		2,820,000		1,985,280
CSN Islands XI Corp.
6.75%, 01/28/2028 (A)		2,315,000		2,299,490
Grupo Aval, Ltd.
4.38%, 02/04/2030 (A) (D)		1,195,000		1,209,041
JD.com, Inc.
4.13%, 01/14/2050		2,070,000		2,218,358
Lima Metro Line 2 Finance, Ltd.
4.35%, 04/05/2036 (A)		4,295,000		4,609,093
Odebrecht Drilling Norbe VIII / IX, Ltd.
6.35%, 12/01/2021 (E)		2,065,410		2,060,247
Tencent Holdings, Ltd.
3.98%, 04/11/2029 (A)		2,760,000		3,044,175
				17,425,684
Chile - 1.3%
Celulosa Arauco y Constitucion SA
4.25%, 04/30/2029 (A)		3,000,000		3,076,800

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chile (continued)
Cencosud SA
4.38%, 07/17/2027 (A)		$   3,220,000		$   3,287,156
Empresa Electrica Cochra SpA
5.50%, 05/14/2027 (A)		1,410,000		1,471,687
				7,835,643
Colombia - 0.3%
Bancolombia SA
3.00%, 01/29/2025		1,740,000		1,750,457
Ecuador - 0.4%
Petroamazonas EP
4.63%, 11/06/2020 (A)		2,320,833		2,309,229
4.63%, 11/06/2020 (E)		166,667		165,834
				2,475,063
India - 1.6%
Adani Ports & Special Economic Zone, Ltd.
4.38%, 07/03/2029 (A)		2,110,000		2,227,252
Future Retail, Ltd.
5.60%, 01/22/2025 (A)		900,000		906,768
Muthoot Finance, Ltd.
6.13%, 10/31/2022 (A)		1,780,000		1,843,048
Power Finance Corp., Ltd.
3.95%, 04/23/2030 (A)		2,860,000		2,864,022
Shriram Transport Finance Co., Ltd.
5.95%, 10/24/2022 (A)		1,615,000		1,655,088
				9,496,178
Indonesia - 1.2%
Pelabuhan Indonesia II PT
5.38%, 05/05/2045 (A)		2,570,000		2,961,925
Pertamina Persero PT
5.63%, 05/20/2043 (A) (F)		3,600,000		4,230,066
				7,191,991
Ireland - 0.5%
C&W Senior Financing DAC
6.88%, 09/15/2027 (A)		1,400,000		1,503,250
Credit Bank of Moscow Via CBOM Finance PLC
4.70%, 01/29/2025 (A)		1,005,000		1,005,442
Fixed until 11/10/2022 (G), 8.88% (E) (H)		700,000		684,054
				3,192,746
Israel - 1.0%
Bank Leumi Le-Israel BM
Fixed until 01/29/2026, 3.28% (H), 01/29/2031 (A) (E)		1,810,000		1,810,000
Israel Chemicals, Ltd.
6.38%, 05/31/2038 (A) (E)		3,510,000		4,234,815
				6,044,815
Luxembourg - 0.6%
Kenbourne Invest SA
6.88%, 11/26/2024 (A)		2,000,000		2,077,500
Minerva SA
5.88%, 01/19/2028 (A)		1,470,000		1,549,086
				3,626,586

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Mexico - 6.4%
Aerovias de Mexico SA de CV
7.00%, 02/05/2025		$   1,800,000		$   1,800,000
Banco Mercantil del Norte SA
Fixed until 06/27/2029 (G), 7.50% (A) (H)		3,605,000		4,087,169
BBVA Bancomer SA
Fixed until 09/13/2029, 5.88% (H), 09/13/2034 (A)		2,400,000		2,648,400
Braskem Idesa SAPI
7.45%, 11/15/2029 (A)		2,110,000		2,224,995
Grupo Bimbo SAB de CV
Fixed until 04/17/2023 (G), 5.95% (A) (H)		4,260,000		4,526,250
Industrias Penoles SAB de CV
5.65%, 09/12/2049 (A)		3,400,000		3,733,642
Mexico City Airport Trust
5.50%, 07/31/2047 (A)		3,205,000		3,514,282
Petroleos Mexicanos
5.95%, 01/28/2031 (A)		4,800,000		4,870,800
6.95%, 01/28/2060 (A)		1,635,000		1,657,121
7.69%, 01/23/2050 (A)		7,901,000		8,680,039
Petroleos Mexicanos Co.
7.19%, 09/12/2024		MXN  24,100,000		1,175,034
				38,917,732
Mongolia - 0.3%
Mongolian Mortgage Corp. Hfc LLC
9.75%, 01/29/2022 (A)		$  2,070,000		2,026,231
Netherlands - 3.4%
Braskem Finance BV
5.88%, 01/31/2050 (A)		5,930,000		6,149,351
IHS Holdco BV
8.00%, 09/18/2027 (A)		3,900,000		4,212,000
Minejesa Capital BV
4.63%, 08/10/2030 (A)		2,200,000		2,291,971
Mong Duong Finance Holdings BV
5.13%, 05/07/2029 (A)		2,600,000		2,681,643
MV24 Capital BV
6.75%, 06/01/2034 (A)		2,267,938		2,445,518
Prosus NV
3.68%, 01/21/2030 (A)		1,115,000		1,152,398
Teva Pharmaceutical Finance III BV
7.13%, 01/31/2025 (A) (F)		1,800,000		1,894,536
				20,827,417
Nigeria - 0.4%
SEPLAT Petroleum Development Co. PLC
9.25%, 04/01/2023 (A)		2,300,000		2,397,658
Northern Mariana Islands - 0.2%
Azure Power Solar Energy Pvt, Ltd.
5.65%, 12/24/2024 (A)		1,200,000		1,238,760
Paraguay - 0.2%
Telefonica Celular del Paraguay SA
5.88%, 04/15/2027 (A)		1,300,000		1,388,771
Peru - 0.9%
Alicorp SAA
6.88%, 04/17/2027 (A)		PEN  10,600,000		3,420,112

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Peru (continued)
Banco Internacional del Peru SAA Interbank
3.25%, 10/04/2026 (A)		$  1,920,000		$   1,944,000
Camposol SA
6.00%, 02/03/2027 (A) (D)		450,000		456,300
				5,820,412
Republic of South Africa - 1.3%
Eskom Holdings SOC, Ltd.
5.75%, 01/26/2021 (A)		2,245,000		2,247,721
5.75%, 01/26/2021 (E)		935,000		936,133
7.85%, 04/02/2026, MTN		ZAR  72,000,000		4,504,180
				7,688,034
Saudi Arabia - 2.0%
Saudi Arabian Oil Co.
2.88%, 04/16/2024 (A)		$  1,000,000		1,027,463
3.50%, 04/16/2029 (A)		1,630,000		1,727,380
4.25%, 04/16/2039 (A)		2,720,000		3,008,829
4.38%, 04/16/2049 (A)		5,895,000		6,640,653
				12,404,325
Singapore - 1.2%
LLPL Capital Pte, Ltd.
6.88%, 02/04/2039 (A)		3,952,800		4,624,776
Medco Bell Pte, Ltd.
6.38%, 01/30/2027 (A)		2,920,000		2,815,225
				7,440,001
Thailand - 0.3%
Bangkok Bank PCL
Fixed until 09/25/2029, 3.73% (H), 09/25/2034 (A)		1,625,000		1,689,570
Turkey - 1.3%
QNB Finansbank AS
6.88%, 09/07/2024 (A) (F)		3,120,000		3,397,680
Turkcell Iletisim Hizmetleri AS
5.80%, 04/11/2028 (A)		1,200,000		1,248,000
Turkiye Vakiflar Bankasi TAO
8.13%, 03/28/2024 (A) (F)		3,000,000		3,348,960
				7,994,640
United Arab Emirates - 1.2%
Acwa Power Management And Investments One, Ltd.
5.95%, 12/15/2039 (A)		4,060,000		4,405,912
GEMS MENASA Cayman, Ltd. / GEMS Education Delaware LLC
7.13%, 07/31/2026 (A)		2,810,000		2,933,443
				7,339,355
United States - 2.0%
Gran Tierra Energy, Inc.
7.75%, 05/23/2027 (A)		1,680,000		1,631,792
GUSAP III, LP
4.25%, 01/21/2030 (A)		2,200,000		2,308,900
Kosmos Energy, Ltd.
7.13%, 04/04/2026 (A)		2,150,000		2,174,187
NBM Holdings, Inc., Co.
6.63%, 08/06/2029 (A)		1,195,000		1,286,119

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
United States (continued)
Resorts World Las Vegas LLC / RWLV Capital, Inc.
4.63%, 04/16/2029 (A)		$   2,360,000		$   2,503,913
Sasol Financing USA LLC
6.50%, 09/27/2028		2,020,000		2,259,349
				12,164,260
Venezuela - 0.1%
Petroleos de Venezuela SA
5.50%, 04/12/2037 (C) (E)		3,870,000		309,600
8.50%, 10/27/2020 (E) (I)		1,945,000		335,513
				645,113
Total Corporate Debt Securities (Cost $208,905,078)				216,589,014
FOREIGN GOVERNMENT OBLIGATIONS - 59.8%
Argentina - 3.1%
Argentina Bonar Bonds
8.75%, 05/07/2024		5,243,524		1,958,509
Argentina Bonos del Tesoro
16.00%, 10/17/2023		ARS  64,400,000		454,067
18.20%, 10/03/2021 (D)		144,540,028		1,318,853
Argentina Republic Government International Bond
5.00%, 01/15/2027 (E)		EUR  2,780,000		1,287,218
6.88%, 01/26/2027 - 01/11/2048		$  10,900,000		4,836,250
7.50%, 04/22/2026		3,540,000		1,612,470
8.28%, 12/31/2033		5,145,479		2,801,714
Argentina Republic Government International Bond, Interest Only STRIPS 5.00% Argentina GDP growth over base of 3.00%, 0.00% (H), 12/15/2035		19,120,000		334,600
Argentine Bonos del Tesoro
15.50%, 10/17/2026		ARS  361,652,300		2,279,924
Provincia de Buenos Aires
6.50%, 02/15/2023 (A)		$  5,460,000		2,033,850
				18,917,455
Brazil - 4.5%
Brazil Notas do Tesouro Nacional
10.00%, 01/01/2031		BRL  66,900,000		19,321,926
Series F,
10.00%, 01/01/2025 - 01/01/2027		30,637,000		8,348,101
				27,670,027
Colombia - 1.8%
Colombia Government International Bond
4.00%, 02/26/2024		$  5,000,000		5,304,700
Colombia TES
Series B,
6.25%, 11/26/2025		COP  9,430,500,000		2,871,160
7.50%, 08/26/2026		8,200,000,000		2,663,124
				10,838,984
Cote d’Ivoire - 1.0%
Ivory Coast Government International Bond
6.88%, 10/17/2040 (A)		EUR  4,975,000		5,907,610
Croatia - 0.6%
Croatia Government International Bond
6.00%, 01/26/2024 (A)		$  3,000,000		3,447,600

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Dominican Republic - 1.4%
Dominican Republic International Bond
4.50%, 01/30/2030 (A) (F)		$  1,255,000		$   1,253,745
5.88%, 01/30/2060 (A)		4,200,000		4,197,900
6.88%, 01/29/2026 (E) (F)		2,965,000		3,384,548
				8,836,193
Ecuador - 1.0%
Ecuador Government International Bond
7.88%, 01/23/2028 (A)		3,800,000		3,087,538
8.88%, 10/23/2027 (A)		1,100,000		930,875
10.75%, 03/28/2022 (A)		2,000,000		1,980,000
				5,998,413
Egypt - 1.2%
Egypt Government International Bond
4.55%, 11/20/2023 (A)		4,000,000		4,108,480
8.70%, 03/01/2049 (A)		2,775,000		3,196,228
				7,304,708
Gabon - 0.2%
Gabon Government International Bond
6.95%, 06/16/2025 (A)		1,055,000		1,138,256
Ghana - 0.7%
Ghana Government International Bond
8.13%, 01/18/2026 - 03/26/2032 (A)		3,930,000		4,211,351
Indonesia - 6.9%
Indonesia Government International Bond
2.85%, 02/14/2030		2,010,000		2,034,822
3.38%, 04/15/2023 (A)		3,740,000		3,869,292
3.75%, 04/25/2022 (A)		4,750,000		4,912,023
4.35%, 01/08/2027 (A)		5,000,000		5,525,468
4.75%, 01/08/2026 - 07/18/2047 (A)		2,655,000		3,009,383
5.25%, 01/08/2047 (A)		6,500,000		8,144,308
Indonesia Treasury Bond
7.50%, 08/15/2032		IDR  90,825,000,000		6,784,438
8.25%, 05/15/2036		25,935,000,000		2,041,524
8.38%, 03/15/2034		54,274,000,000		4,367,755
Perusahaan Penerbit SBSN Indonesia III
4.40%, 03/01/2028 (A)		$  1,445,000		1,596,768
				42,285,781
Kenya - 0.5%
Kenya Government International Bond
7.25%, 02/28/2028 (A)		3,070,000		3,313,979
Malaysia - 1.5%
Malaysia Government Bond
4.89%, 06/08/2038		MYR  19,754,000		5,747,110
Malaysia Sovereign Sukuk Bhd.
3.04%, 04/22/2025 (A)		$  3,000,000		3,170,240
				8,917,350
Mexico - 6.6%
Mexico Bonos
6.50%, 06/09/2022		MXN  105,210,000		5,549,896
8.00%, 09/05/2024		80,000,000		4,471,245
8.50%, 11/18/2038		92,000,000		5,669,377
Series M,
7.50%, 06/03/2027		86,770,000		4,825,010
10.00%, 12/05/2024 - 11/20/2036		163,115,300		10,618,229

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Mexico (continued)
Mexico Government International Bond
4.00%, 10/02/2023		$  2,000,000		$   2,123,000
5.75%, 10/12/2110, MTN		5,760,000		7,156,800
				40,413,557
Nigeria - 0.9%
Nigeria Government International Bond
7.14%, 02/23/2030 (A)		3,260,000		3,353,790
7.63%, 11/21/2025 (A)		2,005,000		2,264,407
				5,618,197
Panama - 0.9%
Panama Government International Bond
3.75%, 03/16/2025		3,000,000		3,217,500
4.30%, 04/29/2053		2,000,000		2,435,000
				5,652,500
Peru - 0.9%
Peru Government International Bond
5.70%, 08/12/2024 (A)		PEN  6,953,000		2,313,106
6.90%, 08/12/2037 (A)		8,497,000		3,108,649
				5,421,755
Qatar - 0.9%
Qatar Government International Bond
2.38%, 06/02/2021 (A)		$  2,000,000		2,009,000
3.88%, 04/23/2023 (A)		3,150,000		3,331,125
				5,340,125
Republic of Korea - 0.9%
Export-Import Bank of Korea
6.20%, 08/07/2021 (A)		INR  180,300,000		2,516,605
8.00%, 05/15/2024 (A)		IDR  35,800,000,000		2,788,557
				5,305,162
Republic of South Africa - 1.4%
Republic of South Africa Government Bond
8.00%, 01/31/2030		ZAR  72,136,100		4,497,629
Republic of South Africa Government International Bond
5.75%, 09/30/2049		$  4,185,000		4,116,827
				8,614,456
Romania - 3.8%
Romania Government Bond
3.65%, 09/24/2031		RON  24,350,000		5,214,199
5.00%, 02/12/2029		24,690,000		6,048,236
Romania Government International Bond
2.00%, 01/28/2032 (A)		EUR  1,870,000		2,134,182
3.38%, 01/28/2050 (A) (F)		2,940,000		3,456,242
5.13%, 06/15/2048 (A)		$  5,090,000		6,052,010
				22,904,869
Russian Federation - 5.0%
Russian Federal Bond - OFZ
7.10%, 10/16/2024		RUB  428,520,000		7,047,600
Russian Federation Federal Bond - OFZ
7.40%, 12/07/2022		362,035,000		5,941,762
7.70%, 03/23/2033		559,423,000		9,848,470

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Russian Federation (continued)
Russian Foreign Bond - Eurobond
4.38%, 03/21/2029 (E)		$  6,600,000		$   7,444,589
				30,282,421
Saudi Arabia - 1.1%
Saudi Arabia Government International Bond
4.50%, 10/26/2046 (A)		2,500,000		2,856,060
Saudi Government International Bond
3.75%, 01/21/2055 (A) (D)		3,770,000		3,840,688
				6,696,748
Supranational - 2.2%
Asian Development Bank
6.20%, 10/06/2026, MTN		INR  382,300,000		5,339,851
6.45%, 08/08/2021, MTN		82,890,000		1,171,141
Banque Ouest Africaine de Developpement
4.70%, 10/22/2031 (A)		$  3,705,000		3,881,432
Eastern & Southern African Trade & Development Bank
5.38%, 03/14/2022, MTN (E)		3,000,000		3,140,340
				13,532,764
Turkey - 1.3%
Export Credit Bank of Turkey
6.13%, 05/03/2024 (A)		1,500,000		1,563,750
Turkey Government International Bond
4.88%, 10/09/2026		6,480,000		6,488,100
				8,051,850
Ukraine - 3.9%
Ukraine Government International Bond
Zero Coupon (H), 05/31/2040 (E)		14,365,000		14,239,306
4.38%, 01/27/2030 (A)		EUR  2,575,000		2,832,614
7.75%, 09/01/2020 (E)		$  2,000,000		2,048,760
7.75%, 09/01/2021 (A)		4,160,000		4,422,080
				23,542,760
United Arab Emirates - 1.6%
Abu Dhabi Government International Bond
2.50%, 09/30/2029 (A) (F)		6,035,000		6,118,887
3.13%, 09/30/2049 (A)		3,480,000		3,477,835
				9,596,722
United Kingdom - 1.1%
Ukreximbank Via Biz Finance PLC
9.75%, 01/22/2025 (E)		6,000,000		6,496,200
Uruguay - 2.2%
Uruguay Government International Bond
4.38%, 12/15/2028		UYU  415,289,157		11,571,252
4.98%, 04/20/2055		$  1,265,000		1,573,673
				13,144,925
Venezuela - 0.5%
Venezuela Government International Bond
9.00%, 05/07/2023 (C)		9,260,000		1,134,350
9.25%, 09/15/2027 (C)		12,230,000		1,498,175
11.95%, 08/05/2031 (C) (E)		5,565,000		681,713
				3,314,238

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Zambia - 0.2%
Zambia Government International Bond
8.50%, 04/14/2024 (E)		$   1,980,000		$   1,352,023
Total Foreign Government Obligations (Cost $365,405,837)				364,068,979
	Shares		Value
COMMON STOCK - 0.1%
Colombia - 0.1%
Frontera Energy Corp.		93,356		658,160
Total Common Stock (Cost $5,390,007)				658,160
	Principal		Value
SHORT-TERM FOREIGN GOVERNMENT OBLIGATIONS - 0.6%
Argentina - 0.6%
Argentina Treasury Bill
0.00% (J), 07/29/2020 - 10/29/2020		ARS  64,781,300		1,233,328
0.28% (J), 10/29/2020		71,466,000		1,150,050
Bonos de La Nacion Argentina EN Moneda Dua
1,398.69% (J), 02/13/2020		$  1,655,000		1,108,850
Total Short-Term Foreign Government Obligations (Cost $5,668,007)				3,492,228

	Shares		Value
OTHER INVESTMENT COMPANY - 2.3%
Securities Lending Collateral - 2.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (J)		14,131,103		$   14,131,103
Total Other Investment Company (Cost $14,131,103)				14,131,103
	Principal		Value
REPURCHASE AGREEMENT - 2.3%
Fixed Income Clearing Corp., 0.85% (J), dated 01/31/2020, to be repurchased at $14,169,118 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $14,456,391.		$  14,168,115		14,168,115
Total Repurchase Agreement (Cost $14,168,115)				14,168,115
Total Investments (Cost $613,668,147)				613,107,599
Net Other Assets (Liabilities) - (0.7)%				(4,170,352	)
Net Assets - 100.0%				$  608,937,247

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased			Currency Sold			Unrealized Appreciation		Unrealized Depreciation
BCLY		02/28/2020		PLN	38,652,285		USD	9,926,241	$	51,045	$	—
BCLY		02/28/2020		HUF	1,237,880,907		USD	4,040,213		33,230		—
HSBC		02/04/2020		USD	4,974,184		BRL	20,978,593		76,860		—
HSBC		02/04/2020		BRL	20,978,593		USD	4,962,419		—		(65,095	)
HSBC		02/28/2020		USD	24,748,714		MXN	465,126,582		231,508		—
HSBC		02/28/2020		JPY	1,350,951,962		USD	12,393,907		91,827		—
JPM		02/28/2020		USD	4,883,040		THB	152,228,760		—		(3,401	)
JPM		02/28/2020		USD	4,904,384		ZAR	71,959,570		126,954		—
SCB		02/04/2020		USD	22,050,819		BRL	93,568,238		207,891		—
SCB		02/04/2020		BRL	93,568,238		USD	22,507,724		—		(664,796	)
SCB		02/18/2020		USD	6,261,225		RUB	385,754,072		240,653		—
SCB		02/24/2020		USD	5,737,371		INR	409,017,179		18,911		—
SCB		03/03/2020		BRL	46,461,224		USD	11,004,423		—		(174,351	)
TDB		02/28/2020		EUR	592,677		USD	653,189		5,209		—
TDB		02/28/2020		MXN	19,742,064		USD	1,044,222		—		(3,602	)
Total									$	1,084,088	$	(911,245	)

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Foreign Government Obligations		59.4	%		$    364,068,979
Oil, Gas & Consumable Fuels		7.9			48,424,870
Banks		3.9			23,574,773
Electric Utilities		3.7			22,338,477
Chemicals		2.4			14,868,510
Food Products		2.1			12,947,112
Metals & Mining		1.9			11,851,424
Diversified Financial Services		1.4			8,844,831
Wireless Telecommunication Services		1.3			8,199,606
Diversified Telecommunication Services		1.2			7,563,479
Paper & Forest Products		1.2			7,390,028
Construction & Engineering		1.0			6,197,280
Transportation Infrastructure		0.9			5,741,534
Marine		0.9			5,407,443
Road & Rail		0.8			4,609,093
Professional Services		0.7			4,405,912
Food & Staples Retailing		0.7			4,193,924
Internet & Direct Marketing Retail		0.6			3,370,756
Energy Equipment & Services		0.5			3,299,007
Interactive Media & Services		0.5			3,044,175
Diversified Consumer Services		0.5			2,933,443
Hotels, Restaurants & Leisure		0.4			2,503,913
Pharmaceuticals		0.3			1,894,536
Consumer Finance		0.3			1,843,048
Airlines		0.3			1,800,000
Investments		94.8			581,316,153
Short-Term Investments		5.2			31,791,446
Total Investments		100.0	%		$    613,107,599

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(K)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	216,589,014		$	—	$	216,589,014
Foreign Government Obligations		—		364,068,979			—		364,068,979
Common Stock		658,160		—			—		658,160
Short-Term Foreign Government Obligations		—		3,492,228			—		3,492,228
Other Investment Company		14,131,103		—			—		14,131,103
Repurchase Agreement		—		14,168,115			—		14,168,115
Total Investments	$	14,789,263	$	598,318,336		$	—	$	613,107,599
Other Financial Instruments
Forward Foreign Currency Contracts (L)	$	—	$	1,084,088		$	—	$	1,084,088
Total Other Financial Instruments	$	—	$	1,084,088		$	—	$	1,084,088
LIABILITIES
Other Financial Instruments
Forward Foreign Currency Contracts (L)	$	—	$	(911,245	)	$	—	$	(911,245	)
Total Other Financial Instruments	$	—	$	(911,245	)	$	—	$	(911,245	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $324,226,514, representing 53.2% of the Fund’s net assets.
(B)	Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(C)	Securities in default; no interest payments received and/or dividends declared during the last 12 months. At January 31, 2020, the total value of such securities is $5,291,151, representing 0.9% of the Fund’s net assets.
(D)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(E)	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, 2020, the total value of Regulation S securities is $50,610,893, representing 8.3% of the Fund’s net assets.
(F)	All or a portion of the securities are on loan. The total value of all securities on loan is $13,845,339. 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.
(G)	Perpetual maturity. The date displayed is the next call date.
(H)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(I)	Security in default; partial receipt of interest payments and/or dividends declared at last payment date. At January 31, 2020, the value of this security is $335,513, representing 0.1% of the Fund net assets.
(J)	Rates disclosed reflect the yields at January 31, 2020.
(K)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(L)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

ARS	Argentine Peso
BRL	Brazilian Real
COP	Columbian Peso
EUR	Euro
HUF	Hungarian Forint
IDR	Indonesian Rupiah
INR	Indian Rupee
JPY	Japanese Yen
MXN	Mexican Peso
MYR	Malaysian Ringgit
PEN	Peruvian Sol
PLN	Polish Zloty
RON	New Romanian Leu
RUB	Russian Ruble
THB	Thai Baht
USD	United States Dollar
UYU	Uruguayan Peso
ZAR	South African Rand

COUNTERPARTY ABBREVIATIONS:

BCLY	Barclays Bank PLC
HSBC	HSBC Bank USA
JPM	JPMorgan Chase Bank, N.A.
SCB	Standard Chartered Bank
TDB	Toronto Dominion Bank

PORTFOLIO ABBREVIATIONS:

GDP	Gross Domestic Product
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Emerging Markets Equity

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 95.3%
Brazil - 6.4%
B3 SA - Brasil Bolsa Balcao		207,300		$  2,333,130
Banco Bradesco SA, ADR		268,600		2,049,418
Banco do Brasil SA		95,400		1,081,286
Banco Santander Brasil SA		322,685		3,169,887
BRF SA (A)		156,600		1,117,109
Equatorial Energia SA		612,400		3,409,054
IRB Brasil Resseguros SA		536,500		5,616,050
JBS SA		1,320,600		8,504,681
Petroleo Brasileiro SA, ADR		183,500		2,431,375
Qualicorp Consultoria e Corretora de Seguros SA		235,100		2,276,011
Vale SA, ADR		439,300		5,152,989
				37,140,990
China - 31.1%
Agricultural Bank of China, Ltd., H Shares		7,348,000		2,836,906
Alibaba Group Holding, Ltd., ADR (A)		156,200		32,269,358
Anhui Conch Cement Co., Ltd., H Shares		946,000		6,038,024
ANTA Sports Products, Ltd.		629,000		5,476,186
Baidu, Inc., ADR (A)		50,200		6,202,712
Bank of China, Ltd., H Shares		17,795,000		6,883,583
China Communications Construction Co., Ltd., H Shares		6,104,000		4,313,646
China Conch Venture Holdings, Ltd.		1,270,000		5,647,193
China Construction Bank Corp., H Shares		11,623,000		8,804,841
China National Building Material Co., Ltd., H Shares		5,878,000		5,619,047
China Railway Group, Ltd., H Shares		8,099,000		4,442,031
China Shenhua Energy Co., Ltd., H Shares		2,238,500		3,933,798
Country Garden Holdings Co., Ltd.		1,225,000		1,549,147
CSPC Pharmaceutical Group, Ltd.		1,166,000		2,557,579
Guangzhou R&F Properties Co., Ltd., H Shares		850,000		1,282,203
Industrial & Commercial Bank of China, Ltd., H Shares		6,035,000		4,005,871
JD.com, Inc., ADR (A)		252,100		9,501,649
KWG Group Holdings, Ltd. (A)		1,918,000		2,483,702
Lenovo Group, Ltd.		4,856,000		3,168,549
LI Ning Co., Ltd.		1,225,500		3,578,923
Momo, Inc., ADR		90,300		2,763,180
NetEase, Inc., ADR		23,500		7,537,860
New Oriental Education & Technology Group, Inc., ADR (A)		36,000		4,375,800
PetroChina Co., Ltd., H Shares		4,026,000		1,775,233
PICC Property & Casualty Co., Ltd., H Shares		4,102,000		4,386,884
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares		2,340,000		2,790,339
Sinopharm Group Co., Ltd., H Shares		1,002,400		3,261,737
Sunac China Holdings, Ltd. (B)		565,000		2,725,031
Tencent Holdings, Ltd.		530,100		25,280,560
Vipshop Holdings, Ltd., ADR (A)		256,600		3,266,518
Xinyi Solar Holdings, Ltd.		2,552,000		1,783,463
				180,541,553
Colombia - 0.5%
Ecopetrol SA, ADR		158,700		2,935,950
Hong Kong - 3.5%
China Mengniu Dairy Co., Ltd. (A)		637,000		2,336,216
China Mobile, Ltd.		920,000		7,562,079

	Shares		Value
COMMON STOCKS (continued)
Hong Kong (continued)
China Overseas Land & Investment, Ltd.		1,568,000		$   5,040,224
China Resources Beer Holdings Co., Ltd.		496,000		2,294,861
CITIC, Ltd.		1,453,000		1,643,034
Geely Automobile Holdings, Ltd.		1,000,000		1,584,607
				20,461,021
Hungary - 1.5%
MOL Hungarian Oil & Gas PLC		245,874		2,085,310
OTP Bank Nyrt		106,015		4,910,822
Richter Gedeon Nyrt		67,223		1,445,220
				8,441,352
India - 7.4%
Apollo Hospitals Enterprise, Ltd.		74,796		1,743,365
Axis Bank, Ltd.		505,759		5,174,476
Bharti Airtel, Ltd. (A)		434,943		3,027,214
Coal India, Ltd.		742,189		1,902,810
Divi’s Laboratories, Ltd.		96,570		2,637,200
Dr. Reddy’s Laboratories, Ltd.		76,603		3,347,447
Glenmark Pharmaceuticals, Ltd.		294,691		1,279,200
HDFC Bank, Ltd., ADR		80,322		4,600,844
ICICI Bank, Ltd., ADR		514,120		7,495,870
LIC Housing Finance, Ltd.		286,426		1,757,719
State Bank of India (A)		981,413		4,358,795
Tata Consultancy Services, Ltd.		127,563		3,722,625
UltraTech Cement, Ltd.		31,102		1,924,297
				42,971,862
Indonesia - 0.2%
Bank Negara Indonesia Persero Tbk PT		2,553,500		1,337,874
Malaysia - 0.3%
Tenaga Nasional Bhd.		648,300		1,962,565
Mexico - 3.2%
America Movil SAB de CV, Class L, ADR		564,200		9,410,856
Fomento Economico Mexicano SAB de CV, ADR		36,300		3,273,171
Grupo Financiero Banorte SAB de CV, Class O		579,100		3,568,903
Grupo Mexico SAB de CV, Series B		887,100		2,358,182
				18,611,112
Peru - 0.4%
Credicorp, Ltd.		11,705		2,418,019
Poland - 1.3%
CD Projekt SA		20,108		1,459,209
Polski Koncern Naftowy Orlen SA		66,845		1,304,182
Powszechna Kasa Oszczednosci Bank Polski SA		330,485		2,912,532
Powszechny Zaklad Ubezpieczen SA		192,332		1,992,720
				7,668,643
Republic of Korea - 14.2%
Daelim Industrial Co., Ltd.		26,133		1,755,962
Fila Holdings Corp.		79,445		2,908,581
GS Engineering & Construction Corp.		58,025		1,346,497
Hana Financial Group, Inc.		159,924		4,419,595
Hyundai Mobis Co., Ltd.		48,865		9,344,139
Hyundai Motor Co.		67,026		6,958,113
Industrial Bank of Korea (A)		177,827		1,593,081
KB Financial Group, Inc. (A)		176,999		6,510,978
Kia Motors Corp.		90,478		3,077,410
KT&G Corp. (A)		31,073		2,469,174

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Emerging Markets Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Republic of Korea (continued)
NCSoft Corp.		8,452		$   4,477,425
Samsung Electronics Co., Ltd.		483,620		22,407,560
Shinhan Financial Group Co., Ltd. (A)		96,785		3,158,417
SK Hynix, Inc.		77,789		5,918,680
SK Telecom Co., Ltd.		30,683		5,877,788
				82,223,400
Republic of South Africa - 4.3%
Absa Group, Ltd.		338,580		3,081,145
AngloGold Ashanti, Ltd., ADR		342,900		6,981,444
Naspers, Ltd., N Shares		58,890		9,551,752
Netcare, Ltd.		1,246,031		1,664,585
Old Mutual, Ltd.		1,288,661		1,485,414
Sanlam, Ltd.		401,953		1,968,193
				24,732,533
Russian Federation - 3.7%
Gazprom PJSC, ADR		1,405,157		9,849,636
Lukoil PJSC, ADR		70,838		7,207,369
MMC Norilsk Nickel PJSC, ADR		143,731		4,636,762
				21,693,767
Taiwan - 15.3%
Accton Technology Corp.		623,000		3,311,353
Asia Cement Corp.		2,413,000		3,589,162
Catcher Technology Co., Ltd.		168,000		1,330,407
Chipbond Technology Corp.		803,000		1,583,183
CTBC Financial Holding Co., Ltd.		6,192,000		4,490,979
Elite Material Co., Ltd.		697,000		2,605,255
Far Eastern New Century Corp.		1,439,000		1,334,021
Hon Hai Precision Industry Co., Ltd.		3,470,000		9,434,951
King Yuan Electronics Co., Ltd.		1,178,000		1,252,172
MediaTek, Inc.		360,000		4,554,856
Nanya Technology Corp.		685,000		1,728,790
Novatek Microelectronics Corp.		1,304,000		9,194,720
Pegatron Corp.		856,000		1,774,792
Pixart Imaging, Inc.		350,000		1,840,796
Radiant Opto-Electronics Corp.		744,000		2,552,961
Realtek Semiconductor Corp.		529,000		4,250,257
Taiwan Semiconductor Manufacturing Co., Ltd., ADR		439,800		23,722,812
Uni-President Enterprises Corp.		1,055,000		2,513,505
United Microelectronics Corp.		4,277,000		2,087,838
Yuanta Financial Holding Co., Ltd.		5,410,000		3,503,405
Zhen Ding Technology Holding, Ltd.		633,000		2,448,214
				89,104,429
Thailand - 1.7%
Advanced Info Service PCL		326,000		2,108,305
Charoen Pokphand Foods PCL		1,757,600		1,691,627
CP ALL PCL		1,674,000		3,778,126
PTT Exploration & Production PCL		498,500		1,988,994
				9,567,052
Turkey - 0.3%
Turk Hava Yollari AO (A)		837,842		1,915,147
Total Common Stocks (Cost $511,677,153)				553,727,269

	Shares		Value
PREFERRED STOCK - 0.3%
Brazil - 0.3%
Telefonica Brasil SA, 4.74% (C)		125,600		$   1,741,788
Total Preferred Stock (Cost $1,632,220)				1,741,788
EXCHANGE-TRADED FUND - 2.0%
United States - 2.0%
iShares MSCI Emerging Markets ETF		284,100		11,963,451
Total Exchange-Traded Fund (Cost $12,731,201)				11,963,451
OTHER INVESTMENT COMPANY - 0.5%
Securities Lending Collateral - 0.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		2,764,263		2,764,263
Total Other Investment Company (Cost $2,764,263)				2,764,263
	Principal		Value
REPURCHASE AGREEMENT - 2.0%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $11,508,197 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $11,742,073.		$  11,507,382		11,507,382
Total Repurchase Agreement (Cost $11,507,382)				11,507,382
Total Investments (Cost $540,312,219)				581,704,153
Net Other Assets (Liabilities) - (0.1)%				(641,224	)
Net Assets - 100.0%				$  581,062,929

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Emerging Markets Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Banks		15.3	%		$    88,864,122
Semiconductors & Semiconductor Equipment		10.4			60,470,528
Internet & Direct Marketing Retail		9.4			54,589,277
Oil, Gas & Consumable Fuels		6.1			35,414,657
Interactive Media & Services		5.9			34,246,452
Technology Hardware, Storage & Peripherals		4.9			28,681,308
Wireless Telecommunication Services		4.8			27,986,242
Metals & Mining		3.3			19,129,377
Construction Materials		2.9			17,170,530
Food Products		2.8			16,163,138
Insurance		2.7			15,449,261
Electronic Equipment, Instruments & Components		2.5			14,488,420
Entertainment		2.3			13,474,494
Real Estate Management & Development		2.2			13,080,307
Textiles, Apparel & Luxury Goods		2.1			11,963,690
International Equity Funds		2.1			11,963,451
Construction & Engineering		2.0			11,858,136
Automobiles		2.0			11,620,130
Auto Components		1.6			9,344,139
Health Care Providers & Services		1.5			8,945,698
Pharmaceuticals		1.5			8,629,446
Machinery		1.0			5,647,193
Beverages		1.0			5,568,032
Electric Utilities		0.9			5,371,619
Diversified Consumer Services		0.7			4,375,800
Food & Staples Retailing		0.6			3,778,126
IT Services		0.6			3,722,625
Diversified Financial Services		0.6			3,503,405
Communications Equipment		0.6			3,311,353
Industrial Conglomerates		0.5			2,977,055
Health Care Equipment & Supplies		0.5			2,790,339
Life Sciences Tools & Services		0.5			2,637,200
Tobacco		0.4			2,469,174
Capital Markets		0.4			2,333,130
Airlines		0.3			1,915,147
Thrifts & Mortgage Finance		0.3			1,757,719
Diversified Telecommunication Services		0.3			1,741,788
Investments		97.5			567,432,508
Short-Term Investments		2.5			14,271,645
Total Investments		100.0	%		$  581,704,153

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Emerging Markets Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	191,517,885	$	362,209,384	$	—	$	553,727,269
Preferred Stock		1,741,788		—		—		1,741,788
Exchange-Traded Fund		11,963,451		—		—		11,963,451
Other Investment Company		2,764,263		—		—		2,764,263
Repurchase Agreement		—		11,507,382		—		11,507,382
Total Investments	$	207,987,387	$	373,716,766	$	—	$	581,704,153

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the security is on loan. The value of the security on loan is $2,625,886. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Emerging Markets Opportunities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 93.3%
Argentina - 1.0%
YPF SA, ADR		215,538		$  2,023,902
Austria - 0.2%
OMV AG		7,358		365,649
Brazil - 6.2%
Energisa SA		129,601		1,669,567
Localiza Rent a Car SA		149,527		1,872,492
Lojas Renner SA		105,489		1,415,108
Magazine Luiza SA		116,801		1,521,855
Notre Dame Intermedica Participacoes SA		36,168		592,947
Petrobras Distribuidora SA		165,162		1,110,696
Petroleo Brasileiro SA, ADR		13,844		183,433
Petroleo Brasileiro SA		169,176		1,198,919
Raia Drogasil SA		18,418		534,228
Suzano SA		116,038		1,074,867
Vale SA, ADR		126,651		1,485,616
				12,659,728
Cayman Islands - 0.9%
Luckin Coffee, Inc., ADR (A)		10,249		332,990
Trip.Com Group, Ltd., ADR (A)		47,313		1,520,167
				1,853,157
China - 30.8%
Alibaba Group Holding, Ltd. (A)		78,531		2,026,319
Alibaba Group Holding, Ltd., ADR (A)		62,418		12,894,935
BeiGene, Ltd., ADR (A)		4,740		722,186
China Construction Bank Corp., H Shares		4,837,433		3,664,530
China International Travel Service Corp., Ltd., A Shares		128,307		1,478,149
China Longyuan Power Group Corp., Ltd., H Shares		3,337,141		1,973,128
China Merchants Bank Co., Ltd., H Shares		447,073		2,155,590
China Oilfield Services, Ltd., H Shares		728,940		1,057,676
China Tower Corp., Ltd., H Shares (B)		11,252,179		2,325,931
CNOOC, Ltd.		1,331,326		1,993,045
Contemporary Amperex Technology Co., Ltd., A Shares		16,100		294,241
Dongfeng Motor Group Co., Ltd., H Shares		663,075		495,503
ENN Energy Holdings, Ltd.		114,698		1,333,353
Hangzhou Tigermed Consulting Co., Ltd., A Shares		30,550		317,818
Industrial & Commercial Bank of China, Ltd., H Shares		3,769,145		2,501,858
Innovent Biologics, Inc. (A) (B)		188,832		724,315
Lomon Billions Group Co., Ltd., A Shares		456,300		1,058,947
PetroChina Co., Ltd., H Shares		21,577		9,514
Ping An Insurance Group Co. of China, Ltd., H Shares		442,887		5,008,100
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares		736,749		878,538
Shengyi Technology Co., Ltd., A Shares		132,400		451,533
Shenzhen Mindray Bio-Medical Electronics Co., Ltd., A Shares		14,600		385,110
Sunny Optical Technology Group Co., Ltd.		87,238		1,386,247
TAL Education Group, ADR (A)		49,569		2,473,493
Tencent Holdings, Ltd.		285,379		13,609,774
Tencent Music Entertainment Group, ADR (A)		43,615		553,474

	Shares		Value
COMMON STOCKS (continued)
China (continued)
WuXi AppTec Co., Ltd., H Shares (B)		46,716		$   565,841
Yifeng Pharmacy Chain Co., Ltd., A Shares		34,000		403,430
				62,742,578
Czech Republic - 0.7%
Komercni banka as		41,107		1,412,877
Greece - 1.1%
Hellenic Telecommunications Organization SA		156,981		2,344,449
Hong Kong - 5.4%
AIA Group, Ltd.		470,180		4,658,988
Brilliance China Automotive Holdings, Ltd.		776,937		688,607
China Gas Holdings, Ltd.		304,411		1,202,549
China Mengniu Dairy Co., Ltd.		510,702		1,873,015
China Overseas Land & Investment, Ltd.		461,972		1,484,976
Geely Automobile Holdings, Ltd.		62,333		98,773
Shimao Property Holdings, Ltd.		334,043		1,077,955
				11,084,863
India - 2.9%
Grasim Industries, Ltd., GDR		78,531		855,988
ICICI Bank, Ltd., ADR		191,368		2,790,146
Larsen & Toubro, Ltd., GDR		94,134		1,782,898
Reliance Industries, Ltd., GDR (B)		12,133		474,400
				5,903,432
Indonesia - 2.8%
Astra International Tbk PT		2,204,221		1,017,551
Bank Central Asia Tbk PT		862,332		2,037,707
Bank Mandiri Persero Tbk PT		4,984,447		2,725,472
				5,780,730
Japan - 1.3%
Nexon Co., Ltd. (A)		97,100		1,315,019
Tokyo Electron, Ltd.		5,700		1,253,692
				2,568,711
Jordan - 0.2%
Hikma Pharmaceuticals PLC		21,774		525,785
Luxembourg - 1.1%
Millicom International Cellular SA, SDR		36,936		1,744,259
Tenaris SA, ADR		27,392		566,740
				2,310,999
Macau - 0.5%
MGM China Holdings, Ltd.		703,261		981,980
Malaysia - 1.8%
CIMB Group Holdings Bhd.		2,288,613		2,744,494
Petronas Chemicals Group Bhd.		629,921		947,645
				3,692,139
Mexico - 1.5%
America Movil SAB de CV, Series L		2,240,389		1,853,207
Grupo Mexico SAB de CV, Series B		169,286		450,014
Orbia Advance Corp. SAB de CV		310,571		733,878
				3,037,099
Netherlands - 0.8%
ASML Holding NV		5,563		1,561,184

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Emerging Markets Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Philippines - 0.3%
Ayala Land, Inc.		817,600		$   665,525
Portugal - 0.3%
Galp Energia SGPS SA		36,782		555,796
Republic of Korea - 8.1%
Hyundai Mobis Co., Ltd.		10,529		2,013,393
LG Chem, Ltd.		7,890		2,200,044
LG Household & Health Care, Ltd.		1,953		2,042,684
Lotte Chemical Corp.		7,327		1,149,267
Samsung Electronics Co., Ltd.		162,395		7,524,246
Shinhan Financial Group Co., Ltd.		46,358		1,512,816
				16,442,450
Republic of South Africa - 5.1%
FirstRand, Ltd.		715,975		2,743,933
Gold Fields, Ltd.		132,972		860,818
Impala Platinum Holdings, Ltd. (A)		57,280		538,237
MTN Group, Ltd.		264,763		1,417,379
Nedbank Group, Ltd.		88,107		1,143,685
Old Mutual, Ltd.		1,638,625		1,919,668
Sasol, Ltd.		84,696		1,345,486
Sibanye Gold, Ltd. (A)		162,166		417,679
				10,386,885
Russian Federation - 5.2%
Gazprom PJSC, ADR		7,122		49,783
Inter RAO (A) (C)		20,557,703		1,854,613
Lukoil PJSC, ADR		40,475		4,133,712
Rosneft Oil Co. PJSC, GDR		72,540		543,615
Sberbank of Russia PJSC (C)		731,300		2,881,658
Yandex NV, Class A (A)		24,098		1,079,831
				10,543,212
Switzerland - 0.6%
Coca-Cola HBC AG		35,065		1,288,014
Taiwan - 10.6%
Delta Electronics, Inc.		177,490		829,284
E.Sun Financial Holding Co., Ltd.		1,553,522		1,435,162
Far Eastern New Century Corp.		1,530,430		1,418,781
Formosa Plastics Corp.		269,279		826,877
Globalwafers Co., Ltd.		89,398		1,153,157
Largan Precision Co., Ltd.		8,373		1,300,557
MediaTek, Inc.		162,420		2,054,999
Novatek Microelectronics Corp.		99,733		703,234
Realtek Semiconductor Corp.		205,699		1,652,691

	Shares		Value
COMMON STOCKS (continued)
Taiwan (continued)
Taiwan Semiconductor Manufacturing Co., Ltd.		828,844		$   8,548,865
Uni-President Enterprises Corp.		706,610		1,683,477
				21,607,084
Thailand - 2.9%
CP ALL PCL		741,940		1,674,518
Kasikornbank PCL		678,763		3,036,329
PTT Global Chemical PCL		755,583		1,187,795
				5,898,642
United Kingdom - 1.0%
Anglo American PLC		78,986		2,061,068
Total Common Stocks (Cost $202,215,637)				190,297,938
PREFERRED STOCKS - 2.4%
Brazil - 2.4%
Braskem SA,
Series A, 7.49% (D)		148,000		1,090,319
Gerdau SA,
0.21% (D)		186,400		872,676
Itau Unibanco Holding SA,
5.12% (D)		342,500		2,624,772
Petroleo Brasileiro SA,
3.21% (D)		40,500		269,048
Total Preferred Stocks (Cost $5,271,305)				4,856,815
EXCHANGE-TRADED FUND - 1.0%
United States - 1.0%
iShares MSCI India ETF		60,280		2,079,057
Total Exchange-Traded Fund (Cost $2,139,060)				2,079,057
Total Investments (Cost $209,626,002)				197,233,810
Net Other Assets (Liabilities) - 3.3%				6,693,365
Net Assets - 100.0%				$  203,927,175

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
MSCI Emerging Markets Index		65		03/20/2020		$	3,470,648		$	3,412,825		$	—		$	(57,823	)

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Emerging Markets Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Banks		16.6	%		$    32,667,096
Semiconductors & Semiconductor Equipment		8.6			16,927,822
Internet & Direct Marketing Retail		8.3			16,441,421
Interactive Media & Services		7.4			14,689,605
Oil, Gas & Consumable Fuels		6.0			11,800,816
Insurance		5.9			11,586,756
Chemicals		5.3			10,540,258
Technology Hardware, Storage & Peripherals		3.8			7,524,246
Metals & Mining		3.4			6,686,108
Wireless Telecommunication Services		2.5			5,014,845
Diversified Telecommunication Services		2.4			4,670,380
Electronic Equipment, Instruments & Components		2.0			3,967,621
Food Products		1.8			3,556,492
Electric Utilities		1.8			3,524,180
Real Estate Management & Development		1.6			3,228,456
Multiline Retail		1.5			2,936,963
Diversified Financial Services		1.4			2,743,933
Food & Staples Retailing		1.3			2,612,176
Specialty Retail		1.3			2,588,845
Gas Utilities		1.3			2,535,902
Diversified Consumer Services		1.3			2,473,493
Automobiles		1.2			2,300,434
International Equity Funds		1.1			2,079,057
Personal Products		1.0			2,042,684
Auto Components		1.0			2,013,393
Independent Power & Renewable Electricity Producers		1.0			1,973,128
Road & Rail		1.0			1,872,492
Entertainment		0.9			1,868,493
Construction & Engineering		0.9			1,782,898
Energy Equipment & Services		0.8			1,624,416
Biotechnology		0.7			1,446,501
Industrial Conglomerates		0.7			1,418,781
Hotels, Restaurants & Leisure		0.7			1,314,970
Beverages		0.7			1,288,014
Health Care Equipment & Supplies		0.6			1,263,648
Paper & Forest Products		0.5			1,074,867
Life Sciences Tools & Services		0.5			883,659
Construction Materials		0.4			855,988
Health Care Providers & Services		0.3			592,947
Pharmaceuticals		0.3			525,785
Electrical Equipment		0.2			294,241
Investments		100.0			197,233,810
Total Investments		100.0	%		$    197,233,810

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Emerging Markets Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	48,495,087		$	141,802,851	$	—	$	190,297,938
Preferred Stocks		4,856,815			—		—		4,856,815
Exchange-Traded Fund		2,079,057			—		—		2,079,057
Total Investments	$	55,430,959		$	141,802,851	$	—	$	197,233,810
LIABILITIES
Other Financial Instruments
Futures Contracts (F)	$	(57,823	)	$	—	$	—	$	(57,823	)
Total Other Financial Instruments	$	(57,823	)	$	—	$	—	$	(57,823	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $4,090,487, representing 2.0% of the Fund’s net assets.
(C)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $4,736,271, representing 2.3% of the Fund’s net assets.
(D)	Rates disclosed reflect the yields at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(F)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
SDR	Swedish Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Event Driven

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 8.1%
Auto Components - 0.1%
Dana, Inc.		8,000		$  123,280
Beverages - 0.3%
Constellation Brands, Inc., Class A		1,500		282,450
Diversified Consumer Services - 0.0% (A)
Chegg, Inc. (B)		700		28,861
Diversified Financial Services - 0.5%
Equitable Holdings, Inc.		18,000		432,360
Entertainment - 0.6%
Sciplay Corp., Class A (B)		5,000		53,000
Ubisoft Entertainment SA (B)		6,450		489,177
				542,177
Hotels, Restaurants & Leisure - 0.9%
Chipotle Mexican Grill, Inc. (B)		600		520,056
Six Flags Entertainment Corp.		7,000		266,910
				786,966
Insurance - 0.2%
Fidelity National Financial, Inc.		4,000		195,000
Interactive Media & Services - 0.2%
IAC / InterActiveCorp (B)		700		170,513
Leisure Products - 1.1%
Hasbro, Inc.		10,000		1,018,700
Media - 0.5%
Discovery, Inc., Class A (B) (C)		13,500		395,010
ViacomCBS, Inc., Class A (C)		2,551		96,887
				491,897
Multiline Retail - 0.2%
Target Corp.		2,000		221,480
Oil, Gas & Consumable Fuels - 0.7%
Occidental Petroleum Corp.		15,000		595,800
Semiconductors & Semiconductor Equipment - 1.9%
Micron Technology, Inc. (B)		33,000		1,751,970
Specialty Retail - 0.5%
Fnac Darty SA (B)		1,462		71,233
Ulta Salon Cosmetics & Fragrance, Inc. (B)		1,500		401,865
				473,098
Textiles, Apparel & Luxury Goods - 0.4%
Levi Strauss & Co., Class A (C)		20,000		392,800
Total Common Stocks (Cost $7,373,846)				7,507,352
CONVERTIBLE PREFERRED STOCKS - 2.5%
Electric Utilities - 0.4%
Southern Co.,
6.75%		6,500		369,135

	Shares		Value
CONVERTIBLE PREFERRED STOCKS (continued)
Multi-Utilities - 0.9%
Dominion Energy, Inc.,
Series A, 7.25%		7,500		$   822,975
Pharmaceuticals - 0.3%
Elanco Animal Health, Inc.,
5.00%		4,650		254,639
Semiconductors & Semiconductor Equipment - 0.9%
Broadcom, Inc.,
Series A, 8.00%		750		861,450
Total Convertible Preferred Stocks (Cost $2,057,500)				2,308,199
	Principal		Value
CONVERTIBLE BONDS - 69.2%
Banks - 2.9%
BofA Finance LLC
0.25%, 05/01/2023, MTN (D)		$  2,528,000		2,668,382
Biotechnology - 1.9%
BioMarin Pharmaceutical, Inc.
0.60%, 08/01/2024 (C) (D)		1,700,000		1,803,578
Capital Markets - 3.4%
JPMorgan Chase Financial Co. LLC
0.25%, 05/01/2023 (D) (E)		2,000,000		2,146,250
SBI Holdings, Inc.
Zero Coupon, 09/13/2023 (F)		JPY  100,000,000		988,888
				3,135,138
Chemicals - 2.1%
Toray Industries, Inc.
Zero Coupon, 08/31/2021 (F)		200,000,000		1,979,456
Diversified Financial Services - 2.5%
Eliott Capital Sarl
Zero Coupon, 12/30/2022 (F)		EUR  2,000,000		2,271,733
Diversified Telecommunication Services - 1.1%
Vonage Holdings Corp.
1.75%, 06/01/2024 (E)		$  1,100,000		1,043,453
Electronic Equipment, Instruments & Components - 1.8%
Insight Enterprises, Inc.
0.75%, 02/15/2025 (E)		1,500,000		1,698,953
Entertainment - 2.9%
Live Nation Entertainment, Inc.
2.00%, 02/15/2025 (E) (G)		1,100,000		1,110,450
Zynga, Inc.
0.25%, 06/01/2024 (E)		1,500,000		1,533,994
				2,644,444
Food & Staples Retailing - 0.7%
Chefs’ Warehouse, Inc.
1.88%, 12/01/2024 (E)		600,000		637,177
Health Care Technology - 1.1%
Allscripts Healthcare Solutions, Inc.
0.88%, 01/01/2027 (E)		1,140,000		1,040,613
Hotels, Restaurants & Leisure - 0.6%
Luckin Coffee, Inc.
0.75%, 01/15/2025 (C) (E)		600,000		522,145

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Event Driven

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CONVERTIBLE BONDS (continued)
Insurance - 1.6%
AXA SA
7.25%, 05/15/2021 (E)		$   1,286,000		$   1,440,320
Interactive Media & Services - 8.8%
Snap, Inc.
0.75%, 08/01/2026 (D) (E)		2,450,000		2,727,020
Twitter, Inc.
0.25%, 06/15/2024		2,978,000		2,924,733
Zillow Group, Inc.
0.75%, 09/01/2024 (D) (E)		2,000,000		2,465,000
				8,116,753
IT Services - 3.5%
MongoDB, Inc.
0.25%, 01/15/2026 (E)		1,100,000		1,185,858
Okta, Inc.
0.13%, 09/01/2025 (D) (E)		2,000,000		2,022,000
				3,207,858
Media - 3.1%
Liberty Media Corp.
2.25%, 12/01/2048 (E)		808,000		924,920
2.75%, 12/01/2049 (D) (E)		1,875,000		1,956,204
				2,881,124
Metals & Mining - 2.5%
SSR Mining, Inc.
2.50%, 04/01/2039 (D) (E)		1,800,000		2,281,259
Pharmaceuticals - 5.1%
Jazz Investments I, Ltd.
1.88%, 08/15/2021 (D)		2,703,000		2,746,868
Sino Biopharmaceutical, Ltd.
Zero Coupon, 02/17/2025 (F) (G)		EUR  1,818,000		1,960,704
				4,707,572
Semiconductors & Semiconductor Equipment - 0.4%
Semiconductor Manufacturing International Corp.
Zero Coupon, 07/07/2022 (F)		$  250,000		381,205
Software - 12.3%
8x8, Inc.
0.50%, 02/01/2024 (E)		1,240,000		1,249,863
CyberArk Software, Ltd.
Zero Coupon, 11/15/2024 (D) (E)		3,250,000		3,629,972
Palo Alto Networks, Inc.
0.75%, 07/01/2023 (D)		2,047,000		2,274,266
Proofpoint, Inc.
0.25%, 08/15/2024 (D) (E)		2,900,000		3,096,608
Workiva, Inc.
1.13%, 08/15/2026 (E)		1,200,000		1,119,087
				11,369,796
Specialty Retail - 6.2%
ANLLIAN Capital, Ltd.
Zero Coupon, 02/05/2025 (F) (G)		EUR  1,700,000		1,866,492
Guess?, Inc.
2.00%, 04/15/2024 (E)		$  900,000		971,589
RH
Zero Coupon, 06/15/2023 (D)		2,303,000		2,871,611
				5,709,692

	Principal		Value
CONVERTIBLE BONDS (continued)
Technology Hardware, Storage & Peripherals - 4.7%
Innolux Corp.
Zero Coupon, 01/22/2025 (F)		$   2,200,000		$   2,196,898
Lenovo Group, Ltd.
3.38%, 01/24/2024 (F)		2,000,000		2,146,975
				4,343,873
Total Convertible Bonds (Cost $61,051,127)				63,884,524
CORPORATE DEBT SECURITIES - 11.5%
Communications Equipment - 2.2%
Viavi Solutions, Inc.
1.75%, 06/01/2023 (D)		1,700,000		2,057,965
Health Care Equipment & Supplies - 1.9%
Wright Medical Group, Inc.
1.63%, 06/15/2023 (D)		1,645,000		1,722,459
Oil, Gas & Consumable Fuels - 2.2%
Scorpio Tankers, Inc.
3.00%, 05/15/2022		2,000,000		2,004,752
Software - 4.3%
FireEye, Inc.
0.88%, 06/01/2024 (D)		1,500,000		1,492,804
Splunk, Inc.
0.50%, 09/15/2023 (D)		2,000,000		2,437,570
				3,930,374
Specialty Retail - 0.9%
PetSmart, Inc.
7.13%, 03/15/2023 (E)		850,000		846,813
Total Corporate Debt Securities (Cost $9,530,493)				10,562,363
	Shares		Value
OTHER INVESTMENT COMPANY - 2.1%
Securities Lending Collateral - 2.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (H)		1,969,979		1,969,979
Total Other Investment Company (Cost $1,969,979)				1,969,979
	Principal		Value
REPURCHASE AGREEMENT - 22.5%
Fixed Income Clearing Corp., 0.85% (H), dated 01/31/2020, to be repurchased at $20,737,324 on 02/03/2020. Collateralized by a U.S. Government Obligation, 1.38%, due 05/31/2021, and with a value of $21,152,246.		$  20,735,855		20,735,855
Total Repurchase Agreement (Cost $20,735,855)				20,735,855
Total Investments Excluding Options Purchased (Cost $102,718,800)				106,968,272
Total Options Purchased - 0.2% (Cost $181,744)				193,616
Total Investments Before Securities Sold Short (Cost $102,900,544)				107,161,888

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Event Driven

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares			Value
SECURITIES SOLD SHORT - (19.2)%
COMMON STOCKS - (19.2)%
Biotechnology - (0.4)%
BioMarin Pharmaceutical, Inc.		(4,210	)		$  (351,535	)
Chemicals - (0.3)%
Toray Industries, Inc.		(37,000	)		(242,102	)
Communications Equipment - (0.8)%
Viavi Solutions, Inc.		(49,846	)		(702,829	)
Diversified Financial Services - (2.6)%
Equitable Holdings, Inc.		(64,861	)		(1,557,961	)
Voya Financial, Inc.		(14,272	)		(852,467	)
					(2,410,428	)
Diversified Telecommunication Services - (0.2)%
Vonage Holdings Corp.		(23,000	)		(204,010	)
Electronic Equipment, Instruments & Components - (1.1)%
Insight Enterprises, Inc.		(15,000	)		(988,050	)
Entertainment - (0.5)%
Live Nation Entertainment, Inc.		(3,060	)		(208,569	)
Zynga, Inc., Class A		(50,000	)		(301,000	)
					(509,569	)
Food & Staples Retailing - (0.4)%
Chefs’ Warehouse, Inc.		(9,700	)		(353,080	)
Health Care Equipment & Supplies - (0.2)%
Wright Medical Group NV		(5,528	)		(166,614	)
Health Care Technology - (0.3)%
Allscripts Healthcare Solutions, Inc.		(30,000	)		(257,400	)
Hotels, Restaurants & Leisure - (0.1)%
Luckin Coffee, Inc., ADR		(3,000	)		(97,470	)
Interactive Media & Services - (2.1)%
Snap, Inc., Class A		(40,700	)		(748,066	)
Twitter, Inc.		(11,913	)		(386,934	)
Zillow Group, Inc., Class C		(18,000	)		(831,780	)
					(1,966,780	)
IT Services - (0.8)%
MongoDB, Inc.		(1,700	)		(278,647	)
Okta, Inc.		(3,400	)		(435,370	)
					(714,017	)
Media - (0.4)%
Sirius XM Holdings, Inc.		(60,000	)		(424,200	)
Metals & Mining - (0.4)%
SSR Mining, Inc.		(22,600	)		(413,806	)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Oil, Gas & Consumable Fuels - (0.6)%
Scorpio Tankers, Inc.		(25,000	)		$   (583,500	)
Pharmaceuticals - (0.3)%
Jazz Pharmaceuticals PLC		(2,019	)		(289,424	)
Semiconductors & Semiconductor Equipment - (0.7)%
Broadcom, Inc.		(2,000	)		(610,320	)
Software - (4.6)%
CyberArk Software, Ltd.		(10,000	)		(1,382,300	)
Palo Alto Networks, Inc.		(3,551	)		(833,704	)
Proofpoint, Inc.		(7,500	)		(921,075	)
Splunk, Inc.		(6,000	)		(931,560	)
Workiva, Inc.		(4,000	)		(181,960	)
					(4,250,599	)
Specialty Retail - (2.4)%
Guess?, Inc.		(13,000	)		(276,770	)
RH		(9,157	)		(1,911,524	)
					(2,188,294	)
Total Common Stocks (Proceeds $(17,198,492))					(17,724,027	)
Total Securities Sold Short (Proceeds $(17,198,492))					(17,724,027	)
Net Other Assets (Liabilities), Net of Securities Sold Short - 3.1%					2,871,303
Net Assets - 100.0%					$  92,309,164

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Event Driven

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

EXCHANGE-TRADED OPTIONS PURCHASED:

Description	Exercise Price			Expiration Date		Notional Amount			Number of Contracts		Premiums Paid			Value
Call - Commscope Holding Co., Inc.		USD	15.00		05/15/2020		USD	182,850		150		$	19,650		$	8,100
Call - Costco Wholesale Corp.		USD	310.00		02/07/2020		USD	6,110,400		200			31,808			31,808
Put - Financial Select Sector SPDR Fund		USD	29.50		02/21/2020		USD	599,200		200			6,008			6,008
Put - Fireeye, Inc.		USD	15.50		02/07/2020		USD	3,545		500			13,583			16,500
Put - iShares China Large-Cap ETF		USD	38.00		02/07/2020		USD	3,974,000		1,000			16,229			27,000
Put - Netflix, Inc.		USD	270.00		02/28/2020		USD	10,352,700		300			33,565			16,200
Put - Scorpio Tankers, Inc.		USD	27.00		02/21/2020		USD	116,700		50			4,882			20,500
Put - SPDR S&P 500 ETF Trust		USD	316.00		02/05/2020		USD	16,086,500		500			56,019			67,500
Total												$	181,744		$	193,616

FUTURES CONTRACTS:

Short Futures Contracts

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
S&P 500® E-Mini Index		(30	)		03/20/2020		$	(4,921,000	)		$	(4,836,000	)		$	85,000		$	—

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
SSB		03/16/2020	USD	2,799,978	EUR	2,538,000	$	—	$	(22,846	)
SSB		03/16/2020	USD	2,956,705	JPY	321,750,000		—		(20,170	)
Total							$	—	$	(43,016	)

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Event Driven

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(I)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	6,946,942		$	560,410		$	—	$	7,507,352
Convertible Preferred Stocks		2,308,199			—			—		2,308,199
Convertible Bonds		—			63,884,524			—		63,884,524
Corporate Debt Securities		—			10,562,363			—		10,562,363
Other Investment Company		1,969,979			—			—		1,969,979
Repurchase Agreement		—			20,735,855			—		20,735,855
Exchange-Traded Options Purchased		193,616			—			—		193,616
Total Investments	$	11,418,736		$	95,743,152		$	—	$	107,161,888
Other Financial Instruments
Futures Contracts (J)	$	85,000		$	—		$	—	$	85,000
Total Other Financial Instruments	$	85,000		$	—		$	—	$	85,000
LIABILITIES
Securities Sold Short
Common Stocks	$	(17,481,925	)	$	(242,102	)	$	—	$	(17,724,027	)
Total Securities Sold Short	$	(17,481,925	)	$	(242,102	)	$	—	$	(17,724,027	)
Other Financial Instruments
Forward Foreign Currency Contracts (J)	$	—		$	(43,016	)	$	—	$	(43,016	)
Total Other Financial Instruments	$	—		$	(43,016	)	$	—	$	(43,016	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Percentage rounds to less than 0.1% or (0.1)%.
(B)	Non-income producing securities.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $1,922,824. 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)	All or a portion of these securities have been segregated by the custodian as collateral for open exchange-traded options and securities sold short transactions. The total value of such securities is $25,011,605.
(E)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $35,649,548, representing 38.6% of the Fund’s net assets.
(F)	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, 2020, the total value of Regulation S securities is $13,792,351, representing 14.9% of the Fund’s net assets.
(G)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)	Rates disclosed reflect the yields at January 31, 2020.
(I)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(J)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Event Driven

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

EUR	Euro
JPY	Japanese Yen
USD	United States Dollar

COUNTERPARTY ABBREVIATION:

SSB State Street Bank & Trust Co.

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
MTN	Medium Term Note

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES - 7.0%
Commercial Services & Supplies - 0.7%
Garda World Security Corp.
4.63%, 02/15/2027 (A) (B)		$  909,000		$  899,774
Communications Equipment - 0.8%
CommScope, Inc.
5.50%, 03/01/2024 (A)		1,000,000		1,027,500
Construction Materials - 0.6%
Norbord, Inc.
6.25%, 04/15/2023 (A)		700,000		757,750
Containers & Packaging - 0.4%
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC
3-Month LIBOR + 3.50%, 5.33% (C), 07/15/2021 (A)		500,000		500,005
Diversified Telecommunication Services - 0.4%
CenturyLink, Inc.
4.00%, 02/15/2027 (A)		500,000		504,100
Health Care Providers & Services - 1.6%
RegionalCare Hospital Partners Holdings, Inc.
8.25%, 05/01/2023 (A)		1,000,000		1,050,300
Tenet Healthcare Corp.
4.63%, 09/01/2024 (A)		1,000,000		1,030,000
				2,080,300
Hotels, Restaurants & Leisure - 0.8%
Scientific Games International, Inc.
5.00%, 10/15/2025 (A)		1,000,000		1,028,460
Media - 0.4%
CSC Holdings LLC
6.63%, 10/15/2025 (A)		500,000		527,875
Oil, Gas & Consumable Fuels - 0.6%
eG Global Finance PLC
6.75%, 02/07/2025 (A)		835,000		845,437
Pharmaceuticals - 0.7%
Bausch Health Cos., Inc.
6.50%, 03/15/2022 (A)		1,000,000		1,018,560
Total Corporate Debt Securities (Cost $8,930,236)				9,189,761
LOAN ASSIGNMENTS - 85.6%
Aerospace & Defense - 0.3%
Avolon TLB Borrower 1 LLC
Term Loan B3,
1-Month LIBOR + 1.75%, 3.41% (C), 01/15/2025		444,050		445,530
Airlines - 0.6%
Kestrel Bidco, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.68% (C), 12/11/2026		750,000		754,286

	Principal		Value
LOAN ASSIGNMENTS (continued)
Auto Components - 2.0%
Jason, Inc.
1st Lien Term Loan,
3-Month LIBOR + 4.50%, 6.44% (C), 06/30/2021		$   1,129,310		$   898,742
K&N Engineering, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.75%, 6.40% (C), 10/20/2023		1,224,172		1,028,305
Mavis Tire Express Services Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 03/20/2025		643,105		628,635
Delayed Draw Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 03/20/2025		18,408		17,994
				2,573,676
Automobiles - 0.9%
Thor Industries, Inc.
Term Loan B,
1-Month LIBOR + 3.75%, 5.44% (C), 02/01/2026		1,131,254		1,132,668
Beverages - 0.3%
Blue Ribbon LLC
Term Loan,
1-Month LIBOR + 4.00%, 5.65% (C), 11/15/2021		52,890		45,816
3-Month LIBOR + 4.00%, 5.90% (C), 11/15/2021		431,344		373,652
				419,468
Building Products - 1.2%
NCI Building Systems, Inc.
Term Loan,
1-Month LIBOR + 3.75%, 5.43% (C), 04/12/2025		953,829		948,662
VT Topco, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.75%, 5.69% (C), 08/01/2025		679,403		678,554
				1,627,216
Capital Markets - 1.1%
Blucora, Inc.
Term Loan B,
2-Month LIBOR + 3.00%, 4.76% (C), 05/22/2024		529,700		529,700
Kingpin Intermediate Holdings LLC
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 07/03/2024		942,870		946,799
Victory Capital Holdings, Inc.
Term Loan B,
TBD, 07/01/2026 (D) (E)		0		0
				1,476,499
Chemicals - 2.0%
Minerals Technologies, Inc.
Term Loan,
4.75%, 05/09/2021 (F)		739,689		734,141
Term Loan B,
1-Month LIBOR + 2.25%, 3.91% (C), 02/14/2024		2,438		2,443

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Chemicals (continued)
Minerals Technologies, Inc. (continued)
1-Month LIBOR + 2.25%, 3.92% (C), 02/14/2024		$   91,327		$   91,517
1-Month LIBOR + 2.25%, 4.02% (C), 02/14/2024		3,901		3,909
3-Month LIBOR + 2.25%, 4.19% (C), 02/14/2024		14,628		14,659
Polymer Process Holdings, Inc.
Term Loan,
1-Month LIBOR + 6.00%, 7.67% (C), 05/01/2026		895,500		883,187
VAC Holdings GmbH
Term Loan B,
3-Month LIBOR + 4.00%, 5.94% (C), 03/08/2025		1,129,875		937,796
				2,667,652
Commercial Services & Supplies - 4.4%
Advanced Disposal Services, Inc.
Term Loan B3,
1-Week LIBOR + 2.25%, 3.83% (C), 11/10/2023		1,622,893		1,626,048
Aramark Services, Inc.
Term Loan B4,
3-Month LIBOR + 1.75%, 3.47% (C), 01/15/2027		150,000		150,375
Asurion LLC
Term Loan B4,
1-Month LIBOR + 3.00%, 4.65% (C), 08/04/2022		957,483		959,398
BIFM Buyer, Inc.
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (C), 06/01/2026		496,253		497,494
GFL Environmental, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (C), 05/30/2025		798,098		796,502
Harsco Corp.
Term Loan B1,
1-Month LIBOR + 2.25%, 3.94% (C), 12/06/2024		95,408		95,706
Prime Security Services Borrower LLC
Term Loan B1,
1-Month LIBOR + 3.25%, 5.01% (C), 09/23/2026		498,750		499,304
Spin Holdco, Inc.
Term Loan B,
3-Month LIBOR + 3.25%, 5.09% (C), 11/14/2022		679,929		677,804
TruGreen, LP
Term Loan,
1-Month LIBOR + 3.75%, 5.40% (C), 03/19/2026		414,682		415,718
				5,718,349
Communications Equipment - 1.0%
Avaya, Inc.
Term Loan B,
1-Month LIBOR + 4.25%, 5.93% (C), 12/15/2024		617,491		604,369
Securus Technologies Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.50%, 6.15% (C), 11/01/2024		853,049		660,847
				1,265,216

	Principal		Value
LOAN ASSIGNMENTS (continued)
Construction & Engineering - 1.1%
Granite Acquisition, Inc.
Term Loan B,
3-Month LIBOR + 3.50%, 5.44% (C), 12/19/2021		$   1,392,961		$   1,396,154
Containers & Packaging - 4.2%
Anchor Glass Container Corp.
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.46% (C), 12/07/2023		781,951		572,779
3-Month LIBOR + 2.75%, 4.69% (C), 12/07/2023		39,855		29,194
Ball Metalpack LLC
1st Lien Term Loan B,
3-Month LIBOR + 4.50%, 6.41% (C), 07/31/2025		1,194,325		1,048,020
Consolidated Container Co. LLC
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (C), 05/22/2024		253,923		254,558
Flex Acquisition Co., Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.00%, 4.78% (C), 12/29/2023		22,191		21,904
3-Month LIBOR + 3.00%, 4.91% (C), 12/29/2023		591,198		583,561
Term Loan,
3-Month LIBOR + 3.25%, 5.16% (C), 06/29/2025		276,341		271,966
Liqui-Box Holdings, Inc.
Term Loan B,
TBD, 06/03/2026 (E) (G)		1,250,000		1,217,187
Plastipak Packaging, Inc.
Term Loan B,
1-Month LIBOR + 2.50%, 4.15% (C), 10/14/2024		421,530		420,608
Printpack Holdings, Inc.
Term Loan,
1-Month LIBOR + 3.00%, 4.69% (C), 07/26/2023		608,398		606,497
Reynolds Consumer Products, Inc.
Term Loan,
TBD, 01/29/2027 (E) (G)		450,000		451,687
				5,477,961
Diversified Consumer Services - 1.0%
ServiceMaster Co.
Term Loan B,
TBD, 11/08/2023 (D) (E)		0		0
USS Ultimate Holdings, Inc.
1st Lien Term Loan,
6-Month LIBOR + 3.75%, 5.67% (C), 08/25/2024		758,662		760,559
3-Month LIBOR + 3.75%, 5.69% (C), 08/25/2024		1,945		1,950
William Morris Endeavor Entertainment LLC
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (C), 05/18/2025		501,667		498,428
				1,260,937

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Diversified Financial Services - 1.1%
BCP Raptor II LLC
1st Lien Term Loan,
1-Month LIBOR + 4.75%, 6.40% (C), 11/03/2025		$   437,800		$   395,479
NBG Acquisition, Inc.
Term Loan,
3-Month LIBOR + 5.50%, 7.44% (C), 04/26/2024		1,003,840		680,101
WG Partners Acquisition LLC
Term Loan B,
3-Month LIBOR + 3.50%, 5.44% (C), 11/15/2023		348,107		347,237
				1,422,817
Diversified Telecommunication Services - 1.5%
CenturyLink, Inc.
Term Loan B,
TBD, 03/15/2027 (E) (G)		500,000		499,063
Global Tel*Link Corp.
1st Lien Term Loan,
1-Month LIBOR + 4.25%, 5.90% (C), 11/29/2025		1,091,630		1,038,959
Hargray Communications Group, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (C), 05/16/2024		450,285		451,973
				1,989,995
Electric Utilities - 0.9%
Vistra Operations Co. LLC
1st Lien Term Loan B3,
1-Month LIBOR + 1.75%, 3.40% (C), 12/31/2025		931,865		937,107
1-Month LIBOR + 1.75%, 3.42% (C), 12/31/2025		222,280		223,530
				1,160,637
Electrical Equipment - 1.1%
Electrical Components International, Inc.
1st Lien Term Loan,
3-Month LIBOR + 4.25%, 6.19% (C), 06/26/2025		324,813		302,280
Global Appliance, Inc.
Term Loan A,
1-Month LIBOR + 3.25%, 4.90% (C), 09/29/2022		442,211		438,894
VC GB Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.00%, 4.65% (C), 02/28/2024		667,109		660,438
				1,401,612
Electronic Equipment, Instruments & Components - 1.9%
Badger Buyer Corp.
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 09/30/2024		440,305		398,477
Electro Rent Corp.
1st Lien Term Loan,
3-Month LIBOR + 5.00%, 6.80% (C), 01/31/2024		823,040		824,069

	Principal		Value
LOAN ASSIGNMENTS (continued)
Electronic Equipment, Instruments & Components (continued)
GrafTech Finance, Inc.
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 02/12/2025		$   302,031		$   300,143
Radio Systems Corp.
Term Loan B,
2-Month LIBOR + 2.75%, 4.51% (C), 05/02/2024		927,622		927,042
				2,449,731
Entertainment - 0.5%
AMC Entertainment Holdings, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (C), 04/22/2026		713,338		714,764
Equity Real Estate Investment Trusts - 1.5%
iStar, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.41% (C), 06/28/2023		290,179		290,541
1-Month LIBOR + 2.75%, 4.48% (C), 06/28/2023		525,431		526,088
MGM Growth Properties Operating Partnership, LP
Term Loan A,
1-Week LIBOR + 1.75%, 3.32% (C), 06/14/2023		1,120,139		1,118,739
				1,935,368
Food & Staples Retailing - 4.3%
Albertsons LLC
Term Loan B8,
1-Month LIBOR + 2.75%, 4.40% (C), 08/17/2026		1,592,441		1,594,717
Allsup’s Convenience Stores, Inc.
Term Loan,
1-Month LIBOR + 6.25%, 7.91% (C), 11/18/2024		550,000		551,375
BJ’s Wholesale Club, Inc.
1st Lien Term Loan,
1-Month LIBOR + 2.25%, 3.90% (C), 02/03/2024		87,260		87,563
Chef’s Warehouse Leasing Co. LLC
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (C), 06/22/2022		1,219,021		1,219,021
Give & Go Prepared Foods Corp.
1st Lien Term Loan,
3-Month LIBOR + 4.25%, 6.19% (C), 07/29/2023		1,002,660		961,718
Hostess Brands LLC
1-Month LIBOR + 2.25%, 3.90% (C), 08/03/2025		254,387		254,830
2-Month LIBOR + 2.25%, 4.01% (C), 08/03/2025		2,367		2,371
3-Month LIBOR + 2.25%, 4.01% (C), 08/03/2025		118,714		118,921

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Food & Staples Retailing (continued)
Hostess Brands LLC (continued)
Term Loan,
3-Month LIBOR + 2.25%, 4.03% (C), 08/03/2025		$   569,098		$   570,088
Sage BorrowCo LLC
Term Loan B,
1-Month LIBOR + 4.75%, 6.40% (C), 06/20/2026		298,500		299,246
				5,659,850
Food Products - 2.0%
8th Avenue Food & Provisions, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.75%, 5.43% (C), 10/01/2025		371,250		372,085
CSM Bakery Solutions LLC
1st Lien Term Loan,
3-Month LIBOR + 4.00%, 5.87% (C), 07/03/2020 (G)		407,398		394,836
Del Monte Foods, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.25%, 5.16% (C), 02/18/2021		691,741		646,086
Prime Rate + 2.25%, 7.00% (C), 02/18/2021		1,840		1,718
Froneri International PLC
Term Loan,
TBD, 01/31/2027 (E) (G)		245,000		245,613
Shearer’s Foods, Inc.
Term Loan B,
1-Month LIBOR + 4.25%, 5.90% (C), 03/30/2022		990,128		987,653
				2,647,991
Health Care Equipment & Supplies - 1.4%
Carestream Dental Equipment, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 09/01/2024		1,054,155		1,037,684
Mallinckrodt International Finance SA
Term Loan B,
TBD, 09/24/2024 (D) (E)		0		0
3-Month LIBOR + 3.00%, 4.91% (C), 02/24/2025		670,937		557,436
Ortho-Clinical Diagnostics SA
Term Loan B,
1-Month LIBOR + 3.25%, 5.01% (C), 06/30/2025		179,938		177,614
				1,772,734
Health Care Providers & Services - 4.7%
AHP Health Partners, Inc.
Term Loan,
1-Month LIBOR + 4.50%, 6.15% (C), 06/30/2025		814,184		817,237
DaVita, Inc.
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (C), 08/12/2026		399,000		399,926
DuPage Medical Group, Ltd.
Term Loan,
1-Month LIBOR + 2.75%, 4.40% (C), 08/15/2024		988,507		982,946

	Principal		Value
LOAN ASSIGNMENTS (continued)
Health Care Providers & Services (continued)
HCA, Inc.
Term Loan B13,
1-Month LIBOR + 1.75%, 3.40% (C), 03/18/2026		$   611,011		$   614,066
Pearl Intermediate Parent LLC
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (C), 02/14/2025		647,636		638,326
Quorum Health Corp.
Term Loan B,
3-Month LIBOR + 6.75%, 8.53% (C), 04/29/2022		895,935		892,389
RadNet, Inc.
Reprice Term Loan,
3-Month LIBOR + 3.50%, 5.35% (C), 06/30/2023		498,885		499,509
Prime Rate + 2.50%, 7.25% (C), 06/30/2023		7,559		7,568
Sound Inpatient Physicians
1st Lien Term Loan,
TBD, 06/27/2025 (D) (E)		0		0
Team Health Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (C), 02/06/2024		600,955		477,008
WP CityMD Bidco LLC
Term Loan B,
3-Month LIBOR + 4.50%, 6.44% (C), 08/13/2026		750,000		752,344
				6,081,319
Hotels, Restaurants & Leisure - 5.0%
Affinity Gaming LLC
Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 07/01/2023		826,795		800,958
Boyd Gaming Corp.
Term Loan A,
1-Week LIBOR + 2.00%, 3.56% (C), 09/15/2021		282,095		280,332
Caesars Resort Collection LLC
1st Lien Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 12/23/2024		945,089		944,559
ClubCorp Holdings, Inc.
Term Loan B,
3-Month LIBOR + 2.75%, 4.69% (C), 09/18/2024		457,708		434,022
Flynn Restaurant Group, LP
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (C), 06/27/2025		587,481		567,409
Hilton Worldwide Finance LLC
Term Loan B2,
1-Month LIBOR + 1.75%, 3.41% (C), 06/22/2026		1,341,361		1,350,583
NEP/NCP Holdco, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 10/20/2025		975,038		954,725

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Hotels, Restaurants & Leisure (continued)
NPC International, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.50%, 5.28% (C), 04/19/2024 (G)		$   1,157,799		$   512,326
Penn National Gaming, Inc.
Term Loan A,
1-Month LIBOR + 2.00%, 3.65% (C), 10/19/2023		716,355		716,355
				6,561,269
Household Durables - 3.3%
API Heat Transfer ThermaSys Corp.
Term Loan,
3-Month LIBOR + 6.00%, 7.94% (C), 12/31/2023		825,465		742,918
Hoffmaster Group, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.00%, 5.65% (C), 11/21/2023		989,270		983,088
Libbey Glass, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.70% (C), 04/09/2021		1,235,196		907,869
Lifetime Brands, Inc.
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 02/28/2025		547,420		546,052
WKI Holding Co., Inc.
Term Loan B,
1-Month LIBOR + 4.00%, 5.65% (C), 05/01/2024		1,173,179		1,171,712
				4,351,639
Household Products - 1.4%
Kronos Acquisition Holdings, Inc.
Term Loan B,
1-Month LIBOR + 4.00%, 5.65% (C), 05/15/2023		883,088		868,186
Safety Products/JHC Acquisition Corp.
1st Lien Term Loan,
1-Month LIBOR + 4.50%, 6.15% (C), 06/26/2026		886,848		851,374
Delayed Draw Term Loan,
1-Month LIBOR + 4.50%, 6.15% (C), 06/26/2026		47,935		46,017
				1,765,577
Independent Power & Renewable Electricity Producers - 1.4%
Calpine Construction Finance Co., LP
Term Loan B,
1-Month LIBOR + 2.50%, 3.65% (C), 01/15/2025		1,462,500		1,464,633
Terra-Gen Finance Co. LLC
Term Loan B,
1-Month LIBOR + 4.25%, 5.90% (C), 12/09/2021		367,656		358,464
				1,823,097
Interactive Media & Services - 0.2%
Ancestry.com Operations, Inc.
Term Loan B,
1-Month LIBOR + 4.25%, 5.90% (C), 08/27/2026		342,688		326,410

	Principal		Value
LOAN ASSIGNMENTS (continued)
IT Services - 2.4%
Flexential Intermediate Corp.
1st Lien Term Loan,
3-Month LIBOR + 3.50%, 5.44% (C), 08/01/2024		$   381,026		$   305,852
Helios Software Holdings, Inc.
Term Loan,
1-Month LIBOR + 4.25%, 5.90% (C), 10/24/2025		500,000		499,375
Moneygram International, Inc.
Term Loan B,
1-Month LIBOR + 6.00%, 7.65% (C), 06/30/2023		939,348		882,987
Rackspace Hosting, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.00%, 4.90% (C), 11/03/2023		452,342		434,135
Vestcom Parent Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.00%, 5.65% (C), 12/19/2023		1,010,462		959,939
Prime Rate + 3.00%, 7.75% (C), 12/19/2023		174		165
				3,082,453
Leisure Products - 1.8%
Bombardier Recreational Products, Inc.
Term Loan B2,
1-Month LIBOR + 2.50%, 4.15% (C), 05/23/2025		497,500		497,707
Callaway Golf Co.
Term Loan B,
1-Month LIBOR + 4.50%, 6.18% (C), 01/02/2026		930,000		933,488
SP PF Buyer LLC
Term Loan,
1-Month LIBOR + 4.50%, 6.15% (C), 12/22/2025		982,525		923,574
				2,354,769
Machinery - 3.0%
Columbus McKinnon Corp.
Term Loan B,
3-Month LIBOR + 2.50%, 4.44% (C), 01/31/2024		1,203,416		1,204,920
Gardner Denver, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 07/30/2024		243,813		244,423
Patriot Container Corp.
2nd Lien Term Loan,
1-Month LIBOR + 7.75%, 9.40% (C), 03/20/2026		500,000		452,500
Rexnord LLC
Term Loan B,
1-Month LIBOR + 1.75%, 3.41% (C), 08/21/2024		539,767		542,037
Terex Corp.
Term Loan B,
TBD, 01/31/2024 (D) (E)		0		0
Term Loan B1,
1-Month LIBOR + 2.75%, 4.40% (C), 01/31/2024		744,375		746,980

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Machinery (continued)
Welbilt, Inc.
Term Loan B,
1-Month LIBOR + 2.50%, 4.15% (C), 10/23/2025		$   750,000		$   751,406
				3,942,266
Media - 4.6%
A-L Parent LLC
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (C), 12/01/2023		573,189		523,035
AVSC Holding Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.93% (C), 03/03/2025		219,377		219,377
2-Month LIBOR + 3.25%, 5.03% (C), 03/03/2025		218,350		218,350
3-Month LIBOR + 3.25%, 5.21% (C), 03/03/2025		11,130		11,130
Gray Television, Inc.
Term Loan B,
1-Month LIBOR + 2.25%, 4.03% (C), 02/07/2024		750,000		751,458
MCC LLC
Term Loan M,
1-Week LIBOR + 2.00%, 3.57% (C), 01/15/2025		957,551		961,142
Meredith Corp.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 01/31/2025		590,577		593,714
Nexstar Broadcasting, Inc.
Term Loan B4,
1-Month LIBOR + 2.75%, 4.53% (C), 09/18/2026		997,500		1,001,864
Quincy Newspapers, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (C), 10/13/2022		673,974		674,534
Prime Rate + 2.00%, 6.75% (C), 10/13/2022		24,499		24,519
Sinclair Television Group, Inc.
Term Loan B2B,
3-Month LIBOR + 2.50%, 4.18% (C), 09/30/2026		498,750		499,997
Terrier Media Buyer, Inc.
Term Loan B,
3-Month LIBOR + 4.25%, 6.15% (C), 12/17/2026		500,000		503,750
				5,982,870
Multi-Utilities - 0.4%
Solenis Holdings LLC
1st Lien Term Loan,
3-Month LIBOR + 4.00%, 5.91% (C), 06/26/2025		498,974		492,321
Oil, Gas & Consumable Fuels - 3.5%
BCP Raptor LLC
Term Loan B,
1-Month LIBOR + 4.25%, 5.90% (C), 06/24/2024		509,185		465,904

	Principal		Value
LOAN ASSIGNMENTS (continued)
Oil, Gas & Consumable Fuels (continued)
Citgo Petroleum Corp.
Term Loan B,
3-Month LIBOR + 4.50%, 6.44% (C), 07/29/2021		$   869,662		$   869,662
Fieldwood Energy LLC
1st Lien Term Loan,
3-Month LIBOR + 5.25%, 7.03% (C), 04/11/2022		1,100,000		941,416
Phoenix Services International LLC
Term Loan,
1-Month LIBOR + 3.75%, 5.41% (C), 03/01/2025 (G)		322,000		308,047
PowerTeam Services LLC
1st Lien Term Loan,
3-Month LIBOR + 3.25%, 5.19% (C), 03/06/2025		902,893		823,138
Prairie ECI Acquiror, LP
Term Loan B,
3-Month LIBOR + 4.75%, 6.69% (C), 03/11/2026		2,163		2,140
Southeast PowerGen LLC
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 12/02/2021		465,185		439,600
Ultra Resources, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.00%, 5.65% (C), 04/12/2024		1,236,156		718,000
				4,567,907
Paper & Forest Products - 1.2%
Clearwater Paper Corp.
Term Loan B,
1-Month LIBOR + 3.25%, 5.00% (C), 07/26/2026		620,000		621,550
Dunn Paper, Inc.
1st Lien Term Loan,
1-Month LIBOR + 4.75%, 6.40% (C), 08/26/2022		895,287		877,382
Prime Rate + 3.75%, 8.50% (C), 08/26/2022		3,448		3,378
				1,502,310
Personal Products - 1.3%
Edgewell Personal Care Co.
Term Loan B,
TBD, 09/18/2026 (E) (G)		750,000		753,750
Knowlton Development Corporation, Inc.
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (C), 12/22/2025		992,500		993,741
				1,747,491
Pharmaceuticals - 2.1%
Akorn, Inc.
Term Loan B,
PIK Rate 0.75%, Cash Rate 8.06%, 04/16/2021 (H)		448,891		431,216
3-Month LIBOR + 10.00%, 11.81%, 04/16/2021 (C)		448,891		431,216

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Pharmaceuticals (continued)
Alphabet Holding Co., Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (C), 09/26/2024		$   977,500		$   930,661
Amneal Pharmaceuticals LLC
Term Loan B,
1-Month LIBOR + 3.50%, 5.19% (C), 05/04/2025		486,035		447,395
Endo Finance Co. I SARL
Term Loan B,
1-Month LIBOR + 4.25%, 5.94% (C), 04/29/2024		508,197		490,156
				2,730,644
Professional Services - 1.0%
Advantage Sales & Marketing, Inc.
Term Loan B2,
1-Month LIBOR + 3.25%, 4.90% (C), 07/25/2021		489,950		473,414
Everi Payments, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 05/09/2024		893,711		897,018
				1,370,432
Real Estate Management & Development - 3.9%
CityCenter Holdings LLC
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (C), 04/18/2024		946,447		947,117
Cushman & Wakefield U.S. Borrower LLC
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 08/21/2025		967,588		971,217
RE/MAX International, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (C), 12/15/2023		952,171		952,171
Realogy Group LLC
Term Loan A,
1-Month LIBOR + 2.25%, 3.90% (C), 02/01/2023		956,250		937,125
Trico Group LLC
Term Loan,
3-Month LIBOR + 7.00%, 8.94% (C), 02/02/2024		1,257,170		1,260,312
				5,067,942
Road & Rail - 0.3%
Fly Funding II SARL
Term Loan B,
3-Month LIBOR + 1.75%, 3.65% (C), 08/09/2025		396,930		397,426
Software - 1.3%
Almonde, Inc.
1st Lien Term Loan,
6-Month LIBOR + 3.50%, 5.28% (C), 06/13/2024		222,309		219,768
2-Month LIBOR + 3.50%, 5.28% (C), 06/13/2024		34,316		33,924
MA FinanceCo. LLC
Term Loan B3,
1-Month LIBOR + 2.50%, 4.15% (C), 06/21/2024		56,003		55,600

	Principal		Value
LOAN ASSIGNMENTS (continued)
Software (continued)
Seattle Spinco, Inc.
Term Loan B3,
1-Month LIBOR + 2.50%, 4.15% (C), 06/21/2024		$   378,200		$   375,481
SS&C Technologies Holdings SARL
Term Loan B4,
1-Month LIBOR + 2.25%, 3.40% (C), 04/16/2025		409,794		409,986
SS&C Technologies, Inc.
Term Loan B3,
1-Month LIBOR + 2.25%, 3.40% (C), 04/16/2025		574,288		574,557
				1,669,316
Specialty Retail - 2.0%
Bass Pro Group LLC
Term Loan B,
1-Month LIBOR + 5.00%, 6.65% (C), 09/25/2024		589,668		587,702
Men’s Wearhouse, Inc.
Term Loan B2,
1-Month LIBOR + 3.25%, 5.03% (C), 04/09/2025		972,205		791,537
PetSmart, Inc.
Term Loan,
1-Month LIBOR + 4.00%, 5.67% (C), 03/11/2022		485,544		484,229
Staples, Inc.
Term Loan B2,
1-Month LIBOR + 4.50%, 6.28% (C), 09/12/2024		793,506		778,959
				2,642,427
Technology Hardware, Storage & Peripherals - 0.7%
Diebold Nixdorf, Inc.
Term Loan A,
1-Month LIBOR + 4.75%, 6.50% (C), 04/30/2022		494,644		484,133
NCR Corp.
Term Loan,
1-Month LIBOR + 2.50%, 4.15% (C), 08/28/2026		399,000		400,621
				884,754
Textiles, Apparel & Luxury Goods - 1.7%
Augusta Sportswear Group, Inc.
Term Loan B,
Prime Rate + 3.50%, 6.15% (C), 10/26/2023		783,796		762,894
Kontoor Brands, Inc.
Term Loan B,
1-Week LIBOR + 4.25%, 5.82% (C), 05/15/2026		56,250		56,391
1-Month LIBOR + 4.25%, 5.91% (C), 05/15/2026		445,500		446,614
Varsity Brands, Inc.
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (C), 12/15/2024		944,064		924,788
				2,190,687

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Trading Companies & Distributors - 0.9%
Utility One Source, LP
Term Loan B,
1-Month LIBOR + 5.50%, 7.15% (C), 04/18/2023		$   1,161,770		$   1,161,770
Wireless Telecommunication Services - 1.2%
Digicel International Finance, Ltd.
Term Loan B,
6-Month LIBOR + 3.25%, 5.34% (C), 05/28/2024		850,449		766,999
Sprint Communications, Inc.
1st Lien Term Loan B,
1-Month LIBOR + 2.50%, 4.19% (C), 02/02/2024		877,737		864,571
				1,631,570
Total Loan Assignments (Cost $116,222,147)				111,699,777
	Shares		Value
COMMON STOCKS - 0.2%
Health Care Providers & Services - 0.0%
Valitas Holdings, Inc. (I) (J) (K)		21,887		0
Household Durables - 0.2%
API Heat Transfer Intermediate Corp. (J) (K)		889,572		204,602
Software - 0.0% (L)
Avaya Holdings Corp. (K)		4		51
Total Common Stocks (Cost $316,362)				204,653
PREFERRED STOCK - 0.1%
Household Durables - 0.1%
API Heat Transfer Intermediate Corp.,
0.00% (J)		202,038		153,549
Total Preferred Stock (Cost $202,039)				153,549
EXCHANGE-TRADED FUNDS - 0.8%
U.S. Fixed Income Funds - 0.8%
Invesco Senior Loan ETF (B)		22,500		508,725
SPDR Blackstone / GSO Senior Loan ETF		11,000		511,500
Total Exchange-Traded Funds (Cost $1,028,780)				1,020,225
OTHER INVESTMENT COMPANY - 1.1%
Securities Lending Collateral - 1.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (M)		1,441,215		1,441,215
Total Other Investment Company (Cost $1,441,215)				1,441,215

	Principal		Value
REPURCHASE AGREEMENT - 4.2%
Fixed Income Clearing Corp., 0.85% (M), dated 01/31/2020, to be repurchased at $5,416,670 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $5,525,509.		$  5,416,286		$   5,416,286
Total Repurchase Agreement (Cost $5,416,286)				5,416,286
Total Investments (Cost $133,557,065)				129,125,466
Net Other Assets (Liabilities) - 1.0%				1,297,142
Net Assets - 100.0%				$  130,422,608

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Floating Rate

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(N)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (O)		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	9,189,761	$	—	$	9,189,761
Loan Assignments		—		111,699,777		—		111,699,777
Common Stocks		51		204,602		0		204,653
Preferred Stock		—		153,549		—		153,549
Exchange-Traded Funds		1,020,225		—		—		1,020,225
Other Investment Company		1,441,215		—		—		1,441,215
Repurchase Agreement		—		5,416,286		—		5,416,286
Total Investments	$	2,461,491	$	126,663,975	$	0	$	129,125,466

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $9,189,761, representing 7.0% of the Fund’s net assets.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $1,408,492. 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.
(C)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)	Rounds to less than $1 or $(1).
(E)	All or a portion of the security represents unsettled loan commitments at January 31, 2020 where the rate will be determined at time of settlement.
(F)	Fixed rate loan commitment at January 31, 2020.
(G)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)	Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(I)	Security is Level 3 of the fair value hierarchy.
(J)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $358,151, representing 0.3% of the Fund’s net assets.
(K)	Non-income producing securities.
(L)	Percentage rounds to less than 0.1% or (0.1)%.
(M)	Rates disclosed reflect the yields at January 31, 2020.
(N)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(O)	Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
PIK	Payment in-kind
Prime Rate	Interest rate charged by banks to their most credit worthy customers
TBD	To Be Determined

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Global Equity

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 98.7%
Australia - 0.6%
Treasury Wine Estates, Ltd. (A)		67,480		$  579,623
Canada - 1.1%
Intact Financial Corp.		10,827		1,172,939
China - 3.0%
Shenzhou International Group Holdings, Ltd.		72,100		953,149
Tencent Holdings, Ltd.		44,400		2,117,443
				3,070,592
France - 8.0%
Airbus SE		14,508		2,130,702
Cie de Saint-Gobain		52,081		1,964,930
Schneider Electric SE		13,222		1,318,583
TOTAL SA		46,887		2,282,961
Ubisoft Entertainment SA (B)		8,359		633,959
				8,331,135
Germany - 6.9%
Continental AG		9,051		1,032,874
Daimler AG		16,956		785,182
HeidelbergCement AG		31,451		2,121,091
KION Group AG		12,383		775,075
Vonovia SE		43,642		2,490,915
				7,205,137
Hong Kong - 3.5%
AIA Group, Ltd.		120,600		1,195,019
China Mobile, Ltd., ADR		59,923		2,459,240
				3,654,259
India - 1.0%
ICICI Bank, Ltd., ADR		73,498		1,071,601
Indonesia - 0.9%
Bank Rakyat Indonesia Persero Tbk PT		2,816,300		915,592
Ireland - 2.0%
Medtronic PLC		18,426		2,127,097
Japan - 9.6%
Amada Holdings Co., Ltd.		83,023		864,672
East Japan Railway Co.		9,800		862,905
Kansai Electric Power Co., Inc.		97,900		1,098,714
KDDI Corp.		81,800		2,471,919
Kyocera Corp.		25,300		1,662,370
Mitsubishi Electric Corp.		78,400		1,087,028
Sony Corp.		27,100		1,895,017
				9,942,625
Mexico - 0.8%
Cemex SAB de CV, ADR		195,752		790,838
Netherlands - 3.2%
ABN AMRO Bank NV, CVA (C)		61,171		1,064,709
ING Groep NV		208,924		2,268,331
				3,333,040

	Shares		Value
COMMON STOCKS (continued)
Republic of Korea - 3.0%
KB Financial Group, Inc.		27,411		$   1,008,325
Samsung Electronics Co., Ltd.		46,155		2,138,499
				3,146,824
Sweden - 1.4%
Swedbank AB, A Shares		92,567		1,421,249
Switzerland - 3.4%
Novartis AG, ADR		23,876		2,256,521
TE Connectivity, Ltd.		13,886		1,280,011
				3,536,532
United Kingdom - 6.5%
BP PLC, ADR		32,673		1,180,476
Lloyds Banking Group PLC		3,643,613		2,720,081
M&G PLC (B)		190,073		599,784
Prudential PLC		72,444		1,288,081
Reckitt Benckiser Group PLC		12,239		1,013,062
				6,801,484
United States - 43.8%
Aflac, Inc.		23,044		1,188,379
Alnylam Pharmaceuticals, Inc. (B)		9,011		1,034,373
Alphabet, Inc., Class C (B)		2,894		4,150,662
Amazon.com, Inc. (B)		1,624		3,262,161
Becton Dickinson and Co.		5,249		1,444,420
Cerner Corp.		14,630		1,050,873
Comcast Corp., Class A		63,052		2,723,216
Comerica, Inc.		16,448		1,005,960
CVS Health Corp.		22,658		1,536,666
Deere & Co.		9,264		1,469,085
DexCom, Inc. (B)		3,615		870,311
Facebook, Inc., Class A (B)		21,220		4,284,530
Foot Locker, Inc.		21,761		826,265
Illumina, Inc. (B)		3,003		871,080
Ionis Pharmaceuticals, Inc. (B)		8,158		475,775
Lamb Weston Holdings, Inc.		9,417		859,866
Microsoft Corp.		19,913		3,389,790
Neurocrine Biosciences, Inc. (B)		5,448		545,236
Progressive Corp.		25,497		2,057,353
Regeneron Pharmaceuticals, Inc. (B)		2,098		708,998
Reinsurance Group of America, Inc.		9,401		1,354,214
Royal Caribbean Cruises, Ltd.		24,862		2,910,843
Southwest Airlines Co.		52,087		2,863,743
Spirit Aerosystems Holdings, Inc., Class A		12,602		823,163
Visa, Inc., Class A		8,367		1,664,782
Walgreens Boots Alliance, Inc.		9,152		465,379
Wells Fargo & Co.		34,974		1,641,679
				45,478,802
Total Common Stocks (Cost $85,904,871)				102,579,369
EXCHANGE-TRADED FUNDS - 1.0%
United States - 1.0%
iShares Core MSCI EAFE ETF		8,325		528,221
iShares Core S&P 500 ETF		1,673		540,781
Total Exchange-Traded Funds (Cost $1,085,296)				1,069,002

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Global Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
OTHER INVESTMENT COMPANY - 0.5%
Securities Lending Collateral - 0.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		533,352		$   533,352
Total Other Investment Company (Cost $533,352)				533,352

	Principal		Value
REPURCHASE AGREEMENT - 0.4%
Fixed Income Clearing Corp., 0.85% (D), dated 01/31/2020, to be repurchased at $379,983 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $392,235.		$  379,956		$   379,956
Total Repurchase Agreement (Cost $379,956)				379,956
Total Investments (Cost $87,903,475)				104,561,679
Net Other Assets (Liabilities) - (0.6)%				(666,491	)
Net Assets - 100.0%				$  103,895,188

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Banks		12.5	%		$    13,117,527
Interactive Media & Services		10.1			10,552,635
Insurance		7.9			8,255,985
Wireless Telecommunication Services		4.7			4,931,159
Health Care Equipment & Supplies		4.3			4,441,828
Oil, Gas & Consumable Fuels		3.3			3,463,437
Software		3.2			3,389,790
Internet & Direct Marketing Retail		3.1			3,262,161
Machinery		3.0			3,108,832
Aerospace & Defense		2.8			2,953,865
Electronic Equipment, Instruments & Components		2.8			2,942,381
Construction Materials		2.8			2,911,929
Hotels, Restaurants & Leisure		2.8			2,910,843
Airlines		2.7			2,863,743
Biotechnology		2.6			2,764,382
Media		2.6			2,723,216
Real Estate Management & Development		2.4			2,490,915
Electrical Equipment		2.3			2,405,611
Pharmaceuticals		2.2			2,256,521
Technology Hardware, Storage & Peripherals		2.0			2,138,499
Building Products		1.9			1,964,930
Household Durables		1.8			1,895,017
IT Services		1.6			1,664,782
Health Care Providers & Services		1.5			1,536,666
Electric Utilities		1.1			1,098,714
Health Care Technology		1.0			1,050,873
Auto Components		1.0			1,032,874
Household Products		1.0			1,013,062
Textiles, Apparel & Luxury Goods		0.9			953,149
Life Sciences Tools & Services		0.8			871,080
Road & Rail		0.8			862,905
Food Products		0.8			859,866
Specialty Retail		0.8			826,265
Automobiles		0.8			785,182
Entertainment		0.6			633,959
Diversified Financial Services		0.6			599,784

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Global Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY (continued):

Industry (continued)	Percentage of Total Investments			Value
Beverages		0.6	%		$	579,623
U.S. Equity Funds		0.5				540,781
International Equity Funds		0.5				528,221
Food & Staples Retailing		0.4				465,379
Investments		99.1				103,648,371
Short-Term Investments		0.9				913,308
Total Investments		100.0	%		$	104,561,679

SECURITY 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	$	57,817,525	$	44,761,844	$	—	$	102,579,369
Exchange-Traded Funds		1,069,002		—		—		1,069,002
Other Investment Company		533,352		—		—		533,352
Repurchase Agreement		—		379,956		—		379,956
Total Investments	$	59,419,879	$	45,141,800	$	—	$	104,561,679

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of the security is on loan. The value of the security on loan is $505,846. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(B)	Non-income producing securities.
(C)	Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the security is deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the value of the 144A security is $1,064,709, representing 1.0% of the Fund’s net assets.
(D)	Rates disclosed reflect the yields at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
CVA	Commanditaire Vennootschap op Aandelen (Dutch Certificate)

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
SHORT-TERM INVESTMENT COMPANIES - 89.1%
Money Market Funds - 89.1%
BlackRock Liquidity Funds T-Fund, 1.48% (A)		5,775,559		$  5,775,559
Dreyfus Treasury Obligations Cash Management Fund, 1.45% (A)		24,011,618		24,011,618
UBS Select Treasury Preferred Fund, 1.48% (A)		29,446,047		29,446,047
Total Short-Term Investment Companies (Cost $59,233,224)				59,233,224
Total Investments (Cost $59,233,224)				59,233,224
Net Other Assets (Liabilities) - 10.9%				7,248,821
Net Assets - 100.0%				$  66,482,045

CENTRALLY CLEARED SWAP AGREEMENTS:

Interest Rate Swap Agreements

Floating Rate Index	Pay/Receive Fixed Rate	Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
3-Month AUD-BBR-BBSW	Receive	0.50%	Quarterly		03/10/2022		AUD	6,300,000		$	(8,688	)		$	(10,830	)		$	2,142
3-Month AUD-BBR-BBSW	Receive	0.50	Quarterly		06/09/2022		AUD	30,000,000			(26,551	)			(73,593	)			47,042
3-Month AUD-BBR-BBSW	Receive	1.00	Quarterly		03/10/2022		AUD	2,400,000			12,619				4,271				8,348
3-Month AUD-BBR-BBSW	Pay	1.00	Quarterly		06/09/2022		AUD	2,200,000			(12,639	)			(6,833	)			(5,806	)
3-Month CAD-CDOR	Receive	1.50	Semi-Annually/ Quarterly		06/15/2022		CAD	64,300,000			(148,333	)			(411,105	)			262,772
3-Month CAD-CDOR	Pay	1.50	Semi-Annually/ Quarterly		06/17/2030		CAD	9,700,000			138,002				368,506				(230,504	)
3-Month CAD-CDOR	Pay	1.75	Semi-Annually/ Quarterly		03/16/2022		CAD	800,000			(681	)			1,178				(1,859	)
3-Month CAD-CDOR	Pay	2.00	Semi-Annually/ Quarterly		03/18/2030		CAD	200,000			(4,210	)			1,361				(5,571	)
3-Month NZD-BKBM	Pay	1.00	Semi-Annually/ Quarterly		03/16/2022		NZD	17,400,000			25,476				(9,185	)			34,661
3-Month NZD-BKBM	Pay	1.00	Semi-Annually/ Quarterly		06/15/2022		NZD	36,300,000			49,239				93,023				(43,784	)
3-Month NZD-BKBM	Receive	1.50	Semi-Annually/ Quarterly		03/13/2030		NZD	1,600,000			6,179				13,597				(7,418	)
3-Month SEK-STIBOR-SIDE	Pay	0.00	Annually/Quarterly		03/16/2022		SEK	1,035,700,000			371,942				(214,873	)			586,815
3-Month SEK-STIBOR-SIDE	Pay	0.00	Annually/Quarterly		06/15/2022		SEK	287,700,000			102,189				146,964				(44,775	)
3-Month SEK-STIBOR-SIDE	Receive	0.00	Annually/Quarterly		03/20/2030		SEK	153,000,000			(700,725	)			(399,313	)			(301,412	)
3-Month SEK-STIBOR-SIDE	Pay	0.50	Annually/Quarterly		06/15/2022		SEK	50,900,000			(34,627	)			(26,077	)			(8,550	)
3-Month USD-LIBOR	Pay	1.00	Semi-Annually/ Quarterly		06/17/2022		USD	20,700,000			117,860				229,870				(112,010	)
3-Month USD-LIBOR	Pay	1.25	Semi-Annually/ Quarterly		06/17/2030		USD	4,000,000			81,683				183,315				(101,632	)
3-Month USD-LIBOR	Receive	1.75	Semi-Annually/ Quarterly		03/18/2022		USD	2,100,000			16,531				13,288				3,243
3-Month USD-LIBOR	Pay	2.00	Semi-Annually/ Quarterly		03/18/2030		USD	100,000			(5,010	)			(3,108	)			(1,902	)
6-Month AUD-BBR-BBSW	Pay	1.00	Semi-Annually		03/07/2030		AUD	1,900,000			12,219				37,967				(25,748	)
6-Month AUD-BBR-BBSW	Pay	1.50	Semi-Annually		06/13/2030		AUD	7,700,000			(189,267	)			(87,569	)			(101,698	)
6-Month CHF-LIBOR	Pay	0.00	Annually/ Semi-Annually		06/15/2022		CHF	2,600,000			(11,657	)			(8,342	)			(3,315	)
6-Month CHF-LIBOR	Pay	0.00	Annually/ Semi-Annually		06/19/2030		CHF	1,100,000			(44,959	)			(37,858	)			(7,101	)

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CENTRALLY CLEARED SWAP AGREEMENTS (continued):

Interest Rate Swap Agreements (continued)

Floating Rate Index	Pay/Receive Fixed Rate		Fixed Rate			Payment Frequency		Maturity Date		Notional Amount			Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
6-Month CHF-LIBOR		Receive		1.00	%		Annually/ Semi-Annually		03/16/2022		CHF	4,400,000		$	(26,979	)		$	(15,626	)		$	(11,353	)
6-Month CHF-LIBOR		Pay		1.00			Annually/ Semi-Annually		03/20/2030		CHF	1,300,000			15,594				22,739				(7,145	)
6-Month EUR-EURIBOR		Pay		0.00			Annually/ Semi-Annually		03/18/2022		EUR	114,900,000			(325,645	)			(219,575	)			(106,070	)
6-Month EUR-EURIBOR		Pay		0.00			Annually/ Semi-Annually		06/17/2022		EUR	50,600,000			137,876				226,007				(88,131	)
6-Month EUR-EURIBOR		Receive		0.50			Annually/ Semi-Annually		03/18/2030		EUR	12,100,000			757,849				541,502				216,347
6-Month EUR-EURIBOR		Receive		1.00			Annually/ Semi-Annually		06/17/2030		EUR	5,900,000			(145,014	)			(280,914	)			135,900
6-Month GBP-LIBOR		Receive		0.50			Semi-Annually		06/17/2022		GBP	58,200,000			(199,117	)			(382,523	)			183,406
6-Month GBP-LIBOR		Receive		0.75			Semi-Annually		03/18/2022		GBP	74,300,000			184,365				(13,158	)			197,523
6-Month GBP-LIBOR		Pay		0.75			Semi-Annually		06/17/2030		GBP	5,000,000			(15,836	)			98,151				(113,987	)
6-Month GBP-LIBOR		Pay		1.00			Semi-Annually		03/18/2030		GBP	12,300,000			(438,009	)			(127,519	)			(310,490	)
6-Month JPY-LIBOR		Pay		0.00			Semi-Annually		06/15/2022		JPY	3,107,200,000			(25,229	)			(3,728	)			(21,501	)
6-Month JPY-LIBOR		Pay		0.00			Semi-Annually		03/21/2030		JPY	1,317,100,000			39,160				(16,691	)			55,851
6-Month JPY-LIBOR		Receive		1.00			Semi-Annually		03/16/2022		JPY	7,594,400,000			47,270				181,084				(133,814	)
6-Month NOK-NIBOR		Receive		1.50			Annually/ Semi-Annually		03/16/2022		NOK	140,300,000			(77,394	)			(37,610	)			(39,784	)
6-Month NOK-NIBOR		Pay		1.50			Annually/ Semi-Annually		03/20/2030		NOK	34,600,000			73,965				38,579				35,386
Total														$	(250,552	)		$	(184,628	)		$	(65,924	)

OVER-THE-COUNTER SWAP AGREEMENTS:

Total Return Swap Agreements ^(B)

Reference Entity	Counterparty	Pay/ Receive	Payment Frequency	Maturity Date		Notional Amount			Number of Shares or Units		Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
10-Year Canada Government Bond Futures	MLI	Receive	Maturity		03/20/2020		CAD	7,557,844		54,000		$	(90,174	)		$	—			$	(90,174	)
10-Year Japan Government Bond Futures	MLI	Receive	Maturity		03/13/2020		JPY	760,320,000		5,000,000			(36,731	)			—				(36,731	)
10-Year U.K. Gilt Futures	MLI	Receive	Maturity		03/27/2020		GBP	1,059,375		8,000			(26,602	)			—				(26,602	)
10-Year U.S. Treasury Note Futures	MLI	Receive	Maturity		03/20/2020		USD	15,265,555		118,000			(269,883	)			—				(269,883	)
BIST 30 Index Futures	GSI	Pay	Maturity		02/28/2020		TRY	1,384,886		9,600			(55	)			(5	)			(50	)
BM&F Bovespa Index Futures	GSI	Pay	Maturity		02/12/2020		BRL	5,107,822		45			4,454				—				4,454
Corn Futures	CITI	Receive	Maturity		02/21/2020		USD	479,667		125,000			3,104				—				3,104
FTSE JSE Top 40 Index Futures	MLI	Receive	Maturity		03/19/2020		ZAR	762,722		70			1,148				—				1,148
German Euro Bund Futures	MLI	Pay	Maturity		03/06/2020		EUR	15,245,873		88,000			174,838				—				174,838
Heating Oil Futures	CITI	Pay	Maturity		02/27/2020		USD	80,320		42,000			(11,928	)			—				(11,928	)
HSCEI China Index Futures	GSI	Pay	Maturity		02/27/2020		HKD	4,303,670		400			(26,224	)			—				(26,224	)
KOSPI 200 Index Futures	MLI	Pay	Maturity		03/12/2020		KRW	2,892,310,950		10,500,000			85,383				—				85,383
KOSPI 200 Index Futures	GSI	Pay	Maturity		03/12/2020		KRW	1,171,518,825		4,000,000			(25,942	)			—				(25,942	)
MSCI Brazil Index Futures	GSI	Receive	Monthly		03/18/2020		BRL	428,506		331			(2,297	)			—				(2,297	)
MSCI Israel Index Futures	GSI	Pay	Monthly		03/18/2020		USD	12,006		84			134				—				134
MSCI Italy Index Futures	MLI	Pay	Monthly		03/18/2020		EUR	667,864		5,786			(13,910	)			—				(13,910	)

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

OVER-THE-COUNTER SWAP AGREEMENTS (continued):

Total Return Swap Agreements (continued) ^(B)

Reference Entity	Counterparty		Pay/ Receive		Payment Frequency		Maturity Date		Notional Amount			Number of Shares or Units		Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
MSCI Mexico Index Futures		GSI		Receive		Monthly		03/18/2020		MXN	1,393,872		1,456		$	614			$	—			$	614
MSCI South Africa Index Futures		GSI		Receive		Monthly		03/18/2020		ZAR	8,730,804		8,697			22,787				—				22,787
MSCI Spain Index Futures		MLI		Pay		Monthly		03/18/2020		EUR	370,482		1,812			(4,964	)			—				(4,964	)
MSCI Switzerland Index Futures		MLI		Receive		Monthly		03/18/2020		CHF	207,788		63			4,142				—				4,142
MSCI Thailand Index Futures		GSI		Receive		Monthly		03/18/2020		USD	207,996		151			13,603				—				13,603
Natural Gas Futures		CITI		Receive		Maturity		02/26/2020		USD	1,104,360		510,000			165,450				—				165,450
SGX CNX Nifty Index Futures		GSI		Receive		Maturity		02/27/2020		USD	267,408		22			3,694				—				3,694
Soybean Futures		CITI		Receive		Maturity		02/21/2020		USD	182,412		20,000			7,912				—				7,912
Soybean Meal Futures		MLI		Receive		Maturity		02/21/2020		USD	120,130		400			3,730				—				3,730
Soybean Meal Futures		CITI		Receive		Maturity		02/21/2020		USD	390,807		1,300			12,507				—				12,507
Soybean Oil Futures		CITI		Receive		Maturity		02/21/2020		USD	458,759		1,440,000			27,623				—				27,623
Swiss Market Index Futures		MLI		Receive		Maturity		03/20/2020		CHF	6,093,473		570			83,028				—				83,028
TAIEX Futures		GSI		Pay		Maturity		02/19/2020		TWD	4,832,604		400			(245	)			—				(245	)
Wheat Futures		CITI		Receive		Maturity		02/21/2020		USD	205,139		40,000			(16,361	)			—				(16,361	)
WIG 20 Index Futures		GSI		Receive		Maturity		03/20/2020		PLN	299,041		140			2,530				—				2,530
Total															$	91,365			$	(5	)		$	91,370

	Value
OTC Swap Agreements, at value (Assets)		$	616,681
OTC Swap Agreements, at value (Liabilities)		$	(525,316	)

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
3-Month Aluminum		6		03/31/2020		$	273,175		$	257,142		$	—		$	(16,033	)
3-Month Aluminum		5		02/04/2020			224,393			213,188			—			(11,205	)
3-Month Aluminum		4		02/06/2020			180,792			169,925			—			(10,867	)
3-Month Aluminum		6		02/13/2020			265,068			255,231			—			(9,837	)
3-Month Aluminum		18		02/18/2020			783,953			766,426			—			(17,527	)
3-Month Aluminum		9		02/20/2020			391,526			383,348			—			(8,178	)
3-Month Aluminum		7		03/30/2020			318,852			299,946			—			(18,906	)
3-Month Aluminum		8		04/06/2020			364,939			343,214			—			(21,725	)
3-Month Aluminum		8		04/07/2020			365,466			343,274			—			(22,192	)
3-Month Aluminum		8		04/08/2020			360,769			343,332			—			(17,437	)
3-Month Aluminum		8		04/09/2020			360,936			343,392			—			(17,544	)
3-Month Aluminum		12		04/15/2020			541,523			515,625			—			(25,898	)
3-Month Aluminum		5		04/22/2020			227,583			214,961			—			(12,622	)
3-Month Aluminum		5		04/29/2020			218,376			215,214			—			(3,162	)
3-Month Copper		2		02/13/2020			291,506			277,816			—			(13,690	)
3-Month Copper		1		02/18/2020			146,303			138,917			—			(7,386	)
3-Month Copper		3		02/27/2020			446,652			416,692			—			(29,960	)
3-Month Copper		8		03/04/2020			1,170,961			1,111,550			—			(59,411	)
3-Month Copper		1		03/11/2020			152,828			138,998			—			(13,830	)
3-Month Copper		2		03/12/2020			305,771			278,011			—			(27,760	)
3-Month Copper		3		03/30/2020			466,652			416,914			—			(49,738	)
3-Month Copper		1		03/31/2020			155,078			138,978			—			(16,100	)
3-Month Copper		1		04/06/2020			152,584			139,017			—			(13,567	)
3-Month Copper		1		04/07/2020			154,000			139,023			—			(14,977	)
3-Month Copper		2		04/22/2020			306,519			278,162			—			(28,357	)
3-Month Copper		2		04/29/2020			285,097			278,341			—			(6,756	)
3-Month Nickel		1		02/06/2020			97,614			76,641			—			(20,973	)
3-Month Nickel		1		02/27/2020			86,553			76,750			—			(9,803	)
3-Month Nickel		2		03/04/2020			158,688			153,586			—			(5,102	)
3-Month Nickel		1		03/11/2020			80,622			76,843			—			(3,779	)
3-Month Nickel		1		04/15/2020			84,621			77,034			—			(7,587	)
3-Month Nickel		2		04/22/2020			164,506			154,115			—			(10,391	)

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS (continued):

Long Futures Contracts (continued)

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
3-Month Zinc		1		02/06/2020		$	61,913		$	55,300		$	—		$	(6,613	)
3-Month Zinc		3		02/07/2020			186,092			165,872			—			(20,220	)
3-Month Zinc		1		02/20/2020			58,632			55,188			—			(3,444	)
3-Month Zinc		2		02/27/2020			114,680			110,303			—			(4,377	)
3-Month Zinc		2		03/04/2020			111,380			110,273			—			(1,107	)
3-Month Zinc		5		03/11/2020			278,765			275,654			—			(3,111	)
10-Year Australia Treasury Bond		12		03/16/2020			1,168,778			1,187,946			19,168			—
Aluminum		67		03/16/2020			3,022,981			2,865,925			—			(157,056	)
Brent Crude Oil		5		02/28/2020			320,548			283,100			—			(37,448	)
Copper		10		03/16/2020			1,479,651			1,390,062			—			(89,589	)
EURO STOXX 50® Index		326		03/20/2020			13,520,175			13,156,810			—			(363,365	)
FTSE 100 Index		17		03/20/2020			1,677,913			1,620,220			—			(57,693	)
FTSE MIB Index		61		03/20/2020			7,982,152			7,854,061			—			(128,091	)
HSCEI Index		8		02/27/2020			555,252			527,902			—			(27,350	)
IBEX 35 Index		16		02/21/2020			1,683,564			1,663,982			—			(19,582	)
KOSPI 200 Index		11		03/12/2020			674,817			657,937			—			(16,880	)
MSCI Taiwan Index		15		02/26/2020			691,069			660,900			—			(30,169	)
New York Harbor ULSD		1		02/28/2020			80,340			68,393			—			(11,947	)
Nickel		3		03/16/2020			248,322			230,625			—			(17,697	)
RBOB Gasoline		3		02/28/2020			210,631			189,517			—			(21,114	)
S&P 500® E-Mini Index		31		03/20/2020			5,060,405			4,997,200			—			(63,205	)
S&P/ASX 200 Index		60		03/19/2020			6,890,305			6,982,512			92,207			—
S&P/TSX 60 Index		4		03/19/2020			620,205			623,545			3,340			—
SGX CNX Nifty Index		4		02/27/2020			97,156			95,896			—			(1,260	)
Silver		1		03/27/2020			85,965			90,060			4,095			—
U.K. Gilt		55		03/27/2020			9,791,160			9,800,354			9,194			—
WTI Crude		10		02/20/2020			591,744			515,600			—			(76,144	)
Zinc		8		03/16/2020			456,504			441,000			—			(15,504	)
Total												$	128,004		$	(1,725,266	)

Short Futures Contracts

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
3-Month Aluminum		(6	)		03/31/2020		$	(273,699	)		$	(257,142	)		$	16,557		$	—
3-Month Aluminum		(5	)		02/04/2020			(223,674	)			(213,187	)			10,487			—
3-Month Aluminum		(4	)		02/06/2020			(181,138	)			(169,925	)			11,213			—
3-Month Aluminum		(6	)		02/13/2020			(265,047	)			(255,231	)			9,816			—
3-Month Aluminum		(18	)		02/18/2020			(784,206	)			(766,427	)			17,779			—
3-Month Aluminum		(9	)		02/20/2020			(391,366	)			(383,348	)			8,018			—
3-Month Aluminum		(7	)		03/30/2020			(318,413	)			(299,947	)			18,466			—
3-Month Aluminum		(8	)		04/06/2020			(364,233	)			(343,214	)			21,019			—
3-Month Aluminum		(8	)		04/07/2020			(365,775	)			(343,274	)			22,501			—
3-Month Aluminum		(8	)		04/08/2020			(359,591	)			(343,332	)			16,259			—
3-Month Aluminum		(8	)		04/09/2020			(359,026	)			(343,392	)			15,634			—
3-Month Aluminum		(12	)		04/15/2020			(541,545	)			(515,625	)			25,920			—
3-Month Aluminum		(5	)		04/22/2020			(227,906	)			(214,961	)			12,945			—
3-Month Aluminum		(5	)		04/29/2020			(218,573	)			(215,214	)			3,359			—
3-Month Copper		(2	)		02/13/2020			(291,903	)			(277,816	)			14,087			—
3-Month Copper		(1	)		02/18/2020			(145,990	)			(138,917	)			7,073			—
3-Month Copper		(3	)		02/27/2020			(446,754	)			(416,693	)			30,061			—
3-Month Copper		(8	)		03/04/2020			(1,171,644	)			(1,111,550	)			60,094			—
3-Month Copper		(1	)		03/11/2020			(152,943	)			(138,997	)			13,946			—
3-Month Copper		(2	)		03/12/2020			(306,369	)			(278,010	)			28,359			—
3-Month Copper		(3	)		03/30/2020			(466,637	)			(416,914	)			49,723			—
3-Month Copper		(1	)		03/31/2020			(154,665	)			(138,978	)			15,687			—
3-Month Copper		(1	)		04/06/2020			(153,040	)			(139,017	)			14,023			—
3-Month Copper		(1	)		04/07/2020			(153,861	)			(139,023	)			14,838			—
3-Month Copper		(2	)		04/22/2020			(306,489	)			(278,162	)			28,327			—
3-Month Copper		(2	)		04/29/2020			(286,285	)			(278,341	)			7,944			—
3-Month Nickel		(1	)		02/06/2020			(98,037	)			(76,641	)			21,396			—
3-Month Nickel		(1	)		02/27/2020			(86,521	)			(76,750	)			9,771			—
3-Month Nickel		(2	)		03/04/2020			(159,095	)			(153,586	)			5,509			—
3-Month Nickel		(1	)		03/11/2020			(81,906	)			(76,843	)			5,063			—
3-Month Nickel		(1	)		04/15/2020			(83,394	)			(77,034	)			6,360			—
3-Month Nickel		(2	)		04/22/2020			(165,360	)			(154,115	)			11,245			—

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS (continued):

Short Futures Contracts (continued)

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
3-Month Zinc		(1	)		02/06/2020		$	(61,672	)		$	(55,300	)		$	6,372		$	—
3-Month Zinc		(3	)		02/07/2020			(186,741	)			(165,872	)			20,869			—
3-Month Zinc		(1	)		02/20/2020			(58,345	)			(55,187	)			3,158			—
3-Month Zinc		(2	)		02/27/2020			(114,757	)			(110,303	)			4,454			—
3-Month Zinc		(2	)		03/04/2020			(112,149	)			(110,272	)			1,877			—
3-Month Zinc		(5	)		03/11/2020			(278,405	)			(275,654	)			2,751			—
10-Year Canada Government Bond		(130	)		03/20/2020			(13,746,275	)			(13,965,619	)			—			(219,344	)
10-Year Japan Government Bond		(9	)		03/13/2020			(12,629,976	)			(12,696,599	)			—			(66,623	)
10-Year Japan Government Bond Mini		(11	)		03/12/2020			(1,544,679	)			(1,552,213	)			—			(7,534	)
10-Year U.S. Treasury Note		(24	)		03/20/2020			(3,115,930	)			(3,159,750	)			—			(43,820	)
Aluminum		(48	)		03/16/2020			(2,111,531	)			(2,053,200	)			58,331			—
Amsterdam Index		(30	)		02/21/2020			(4,042,867	)			(3,911,729	)			131,138			—
CAC 40 Index		(24	)		02/21/2020			(1,596,221	)			(1,544,862	)			51,359			—
Copper		(17	)		03/16/2020			(2,557,889	)			(2,363,106	)			194,783			—
Copper		(4	)		03/27/2020			(280,370	)			(251,700	)			28,670			—
DAX® Index		(7	)		03/20/2020			(2,580,825	)			(2,521,923	)			58,902			—
FTSE Bursa Malaysia KLCI		(28	)		02/28/2020			(529,595	)			(523,890	)			5,705			—
FTSE JSE Top 40 Index		(1	)		03/19/2020			(33,687	)			(33,419	)			268			—
German Euro Bund		(6	)		03/06/2020			(1,157,755	)			(1,164,768	)			—			(7,013	)
Gold 100 oz		(2	)		04/28/2020			(315,970	)			(317,580	)			—			(1,610	)
Hang Seng Index		(35	)		02/27/2020			(6,220,089	)			(5,910,920	)			309,169			—
Mexican Bolsa Index		(5	)		03/20/2020			(119,584	)			(117,552	)			2,032			—
MSCI Singapore Index		(84	)		02/27/2020			(2,254,527	)			(2,242,196	)			12,331			—
Natural Gas		(40	)		02/26/2020			(866,776	)			(736,400	)			130,376			—
Nickel		(5	)		03/16/2020			(404,533	)			(384,375	)			20,158			—
OMX Stockholm 30 Index		(14	)		02/21/2020			(259,737	)			(259,876	)			—			(139	)
SET 50 Index		(115	)		03/30/2020			(786,331	)			(747,629	)			38,702			—
Soybean		(11	)		03/13/2020			(500,994	)			(479,875	)			21,119			—
Soybean Oil		(2	)		03/13/2020			(38,044	)			(35,928	)			2,116			—
TOPIX Index		(10	)		03/12/2020			(1,587,317	)			(1,549,536	)			37,781			—
Wheat		(23	)		03/13/2020			(593,084	)			(636,813	)			—			(43,729	)
Zinc		(9	)		03/16/2020			(504,069	)			(496,125	)			7,944			—
Total															$	1,703,844		$	(389,812	)
Total Futures Contracts															$	1,831,848		$	(2,115,078	)

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
CITI	03/18/2020	USD	7,182,618	AUD	10,427,000	$	196,571	$	—
CITI	03/18/2020	USD	4,850,003	BRL	20,146,000		157,924		—
CITI	03/18/2020	USD	15,472,025	CAD	20,405,000		74,627		(20,663	)
CITI	03/18/2020	USD	5,383,525	CHF	5,307,000		—		(145,014	)
CITI	03/18/2020	USD	4,071,148	CLP	3,189,000,000		89,265		(348	)
CITI	03/18/2020	USD	2,526,473	CNH	17,724,750		9,627		(11,174	)
CITI	03/18/2020	USD	39,956	COP	140,000,000		—		(859	)
CITI	03/18/2020	USD	1,981,683	EUR	1,787,000		2,638		(8,768	)
CITI	03/18/2020	USD	13,137,437	GBP	10,106,000		—		(224,934	)
CITI	03/18/2020	USD	1,196,575	ILS	4,141,000		212		(6,211	)
CITI	03/18/2020	USD	1,111,303	INR	80,191,000		642		(7,257	)
CITI	03/18/2020	USD	3,538,047	JPY	382,428,000		3,194		(3,857	)
CITI	03/18/2020	USD	5,302,355	KRW	6,233,317,000		67,592		(64	)
CITI	03/18/2020	USD	2,798,821	MXN	54,891,000		250		(85,735	)
CITI	03/18/2020	USD	5,113,262	NOK	46,669,000		38,575		(152	)
CITI	03/18/2020	USD	1,480,390	PHP	75,500,000		277		(2,694	)
CITI	03/18/2020	USD	431,284	PLN	1,685,000		—		(3,719	)
CITI	03/18/2020	USD	1,008,855	SEK	9,640,000		5,185		—
CITI	03/18/2020	USD	1,014,261	SGD	1,380,000		2,848		—
CITI	03/18/2020	USD	10,521	THB	325,000		94		(12	)
CITI	03/18/2020	KRW	3,208,001,000	USD	2,752,076		—		(57,953	)
CITI	03/18/2020	MXN	60,917,166	USD	3,166,300		44,556		(9,899	)
CITI	03/18/2020	BRL	13,525,982	USD	3,265,182		—		(114,929	)
CITI	03/18/2020	ZAR	23,734,000	USD	1,624,687		—		(53,449	)
CITI	03/18/2020	INR	87,691,000	USD	1,219,361		4,483		(1,371	)
CITI	03/18/2020	TWD	50,200,000	USD	1,667,532		2,920		(5,857	)

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FORWARD FOREIGN CURRENCY CONTRACTS (continued):

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
CITI		03/18/2020	CZK	4,600,000	USD	199,422	$	2,835	$	—
CITI		03/18/2020	PHP	95,000,000	USD	1,860,554		5,229		(3	)
CITI		03/18/2020	RUB	83,800,000	USD	1,310,283		7,935		(14,896	)
CITI		03/18/2020	GBP	4,950,000	USD	6,443,250		101,874		(128	)
CITI		03/18/2020	NZD	10,597,000	USD	6,864,580		25,061		(35,460	)
CITI		03/18/2020	EUR	8,761,000	USD	9,798,888		4,590		(57,966	)
CITI		03/18/2020	IDR	8,500,000,000	USD	598,008		21,878		(59	)
CITI		03/18/2020	CAD	16,595,000	USD	12,505,748		35,704		(2,236	)
CITI		03/18/2020	AUD	4,106,000	USD	2,802,201		—		(51,198	)
CITI		03/18/2020	HUF	278,000,000	USD	919,009		849		(4,286	)
CITI		03/18/2020	PLN	4,465,000	USD	1,154,908		2,998		(5,212	)
CITI		03/18/2020	CLP	490,000,000	USD	622,601		238		(10,958	)
CITI		03/18/2020	COP	4,180,000,000	USD	1,217,905		13,352		(12,633	)
CITI		03/18/2020	CNH	13,176,750	USD	1,893,749		418		(14,813	)
CITI		03/18/2020	SGD	660,000	USD	485,975		—		(2,255	)
CITI		03/18/2020	CHF	3,867,000	USD	4,010,193		18,234		—
CITI		03/18/2020	THB	6,438,000	USD	211,854		2		(5,098	)
CITI		03/18/2020	JPY	275,706,000	USD	2,537,800		13,383		—
CITI		03/18/2020	SEK	3,327,000	USD	348,350		—		(1,959	)
CITI		03/18/2020	USD	2,058,582	ZAR	30,085,000		66,896		—
Total							$	1,022,956	$	(984,079	)

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Short-Term Investment Companies	$	59,233,224		$	—		$	—	$	59,233,224
Total Investments	$	59,233,224		$	—		$	—	$	59,233,224
Other Financial Instruments
Centrally Cleared Interest Rate Swap Agreements	$	—		$	2,190,018		$	—	$	2,190,018
Over-the-Counter Total Return Swap Agreements		—			616,681			—		616,681
Futures Contracts (D)		1,831,848			—			—		1,831,848
Forward Foreign Currency Contracts (D)		—			1,022,956			—		1,022,956
Total Other Financial Instruments	$	1,831,848		$	3,829,655		$	—	$	5,661,503
LIABILITIES
Other Financial Instruments
Centrally Cleared Interest Rate Swap Agreements	$	—		$	(2,440,570	)	$	—	$	(2,440,570	)
Over-the-Counter Total Return Swap Agreements		—			(525,316	)		—		(525,316	)
Futures Contracts (D)		(2,115,078	)		—			—		(2,115,078	)
Forward Foreign Currency Contracts (D)		—			(984,079	)		—		(984,079	)
Total Other Financial Instruments	$	(2,115,078	)	$	(3,949,965	)	$	—	$	(6,065,043	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Rates disclosed reflect the yields at January 31, 2020.
(B)	At the termination date, a net cash flow is exchanged where the total return is equivalent to the return of the reference entity less a financing rate, if any. As a receiver, the Fund would receive payments based on any positive total return and would owe payments in the event of a negative total return. As the payer, the Fund would owe payments on any net positive total return and would receive payment in the event of a negative total return.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(D)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Global Multifactor Macro

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS (continued):

CHF	Swiss Franc
CLP	Chilean Peso
CNH	Chinese Yuan Renminbi (offshore)
COP	Columbian Peso
CZK	Czech Republic Koruna
EUR	Euro
GBP	Pound Sterling
HKD	Hong Kong Dollar
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israel New Shekel
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
NZD	New Zealand Dollar
PHP	Philippine Peso
PLN	Polish Zloty
RUB	Russian Ruble
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thai Baht
TRY	Turkish New Lira
TWD	Taiwan New Dollar
USD	United States Dollar
ZAR	South African Rand

COUNTERPARTY ABBREVIATIONS:

CITI	Citibank, N.A.
CSS	Credit Suisse Securities (USA) LLC
GSI	Goldman Sachs International
MLI	Merrill Lynch International

PORTFOLIO ABBREVIATIONS:

ASX	Australian Securities Exchange
BBR	Bank Bill Rate
BBSW	Bank Bill Swap Reference Rate
BIST	Borsa Istanbul (Sole Exchange Entity of Turkey)
BKBM	Bank Bill Reference Rate
BM&F Bovespa	Bolsa de Valores, Mercadorias & Futuros de Sao Paulo (Brazilian Stock Exchange Index)
CAC	Cotation Assistée en Continu (French Stock Market Index)
CDOR	Canadian Dollar Offered Rate
CNX Nifty	CRISIL NSE Index (National Stock Exchange of India’s Benchmark Index)
DAX	Deutscher Aktienindex (Frankfurt Stock Index)
EURIBOR	Euro Interbank Offer Rate
FTSE	Financial Times Stock Exchange
HSCEI	Hang Seng China Enterprises Index
IBEX	Índice Bursatil Español (Bolsa de Madrid Stock Market Index)
JSE	Johannesburg Stock Exchange
KLCI	Kuala Lumpur Composite Index
KOSPI	Korean Composite Stock Price Index
LIBOR	London Interbank Offered Rate
MIB	Milano Italia Borsa (FTSE MIB is the primary benchmark index for the Italian equity markets)
NIBOR	Norwegian Interbank Offered Rate
OMX	Norwegian Stockholm Stock Exchange
RBOB	Reformulated Blendstock for Oxygenate Blending
SET	Stock Exchange of Thailand
SGX	Singapore Exchange
SIDE	Swedish Markets
STIBOR	Stockholm Interbank Offered Rate
STOXX	Deutsche Börse Group & SIX Group Index
TAIEX	Taiwan Capitalization Weighted Stock Index
TOPIX	Tokyo Price Index
TSX	Toronto Stock Exchange
ULSD	Ultra-Low Sulfur Diesel
WIG	Warsaw Stock Exchange Index
WTI	West Texas Intermediate

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Global Real Estate Securities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 99.2%
Australia - 4.5%
Centuria Capital Group (A)		69,850		$  113,934
Centuria Captial Group (B) (C)		19,463		31,747
Centuria Industrial, REIT		28,588		69,613
Centuria Metropolitan, REIT		35,073		70,346
Charter Hall Group, REIT		3,896		33,242
Charter Hall Long Wale, REIT		4,674		17,698
Dexus, REIT		5,605		47,296
Goodman Group, REIT		28,109		278,277
LendLease Group		22,759		273,341
				935,494
Belgium - 0.7%
Aedifica SA, REIT		1,080		146,128
Canada - 1.7%
Allied Properties, REIT		4,926		205,541
Canadian Apartment Properties, REIT		2,871		122,789
RioCan, REIT		1,289		26,454
				354,784
Cayman Islands - 1.3%
ESR Cayman, Ltd. (C) (D)		108,800		268,967
France - 0.4%
Unibail-Rodamco-Westfield, REIT		670		91,100
Germany - 4.4%
Godewind Immobilien AG (C) (D)		18,403		108,172
LEG Immobilien AG		1,953		240,884
TLG Immobilien AG (C)		6,635		222,228
Vonovia SE		6,011		343,084
				914,368
Hong Kong - 6.7%
CK Asset Holdings, Ltd.		69,000		440,838
Kerry Properties, Ltd.		13,000		36,261
Link, REIT		42,600		430,793
New World Development Co., Ltd.		107,000		133,657
Sun Hung Kai Properties, Ltd.		6,000		83,582
Swire Properties, Ltd.		59,800		185,643
Wheelock & Co., Ltd.		12,000		73,046
				1,383,820
Japan - 13.9%
Daito Trust Construction Co., Ltd.		1,600		188,475
Daiwa House Industry Co., Ltd.		14,000		440,754
Hankyu Hanshin, Inc., REIT		14		22,484
Heiwa Real Estate, Inc., REIT		18		24,237
Hulic, Inc., REIT		192		355,145
Ichigo Office Investment, REIT		139		150,198
Japan Real Estate Investment Corp., REIT		31		226,372
Kenedix Office Investment Corp., REIT		31		249,010
MCUBS MidCity Investment Corp., REIT		111		130,276
Mitsubishi Estate Logistics Investment Corp., REIT		33		121,060
Nippon Building Fund, Inc., REIT		29		234,920
Nippon Prologis, Inc., REIT		34		97,741

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Sumitomo Realty & Development Co., Ltd.		11,000		$   404,971
Tokyu Fudosan Holdings Corp.		36,200		255,186
				2,900,829
Luxembourg - 1.1%
Aroundtown SA		24,462		231,577
Netherlands - 0.0% (E)
InterXion Holding NV (C)		80		6,962
New Zealand - 0.3%
Goodman Property Trust, REIT		33,438		50,002
Norway - 0.6%
Entra ASA (D)		7,686		131,169
Singapore - 2.2%
AIMS APAC, REIT		103,400		110,337
Cromwell European, REIT		86,400		52,223
Lendlease Global Commercial, REIT (C)		449,994		303,382
				465,942
Spain - 2.6%
Aedas Homes SA (C) (D)		5,456		123,547
Cellnex Telecom SA (D)		3,297		163,977
Inmobiliaria Colonial Socimi SA, REIT		18,571		248,844
				536,368
Sweden - 2.2%
Castellum AB		10,325		253,757
Kungsleden AB		18,918		201,621
				455,378
United Kingdom - 4.7%
Assura PLC, REIT		128,104		131,608
Derwent London PLC, REIT		4,611		249,828
Grainger PLC		45,464		177,513
Great Portland Estates PLC, REIT		13,882		170,700
Segro PLC, REIT		21,139		253,835
				983,484
United States - 51.9%
Alexandria Real Estate Equities, Inc., REIT		2,605		425,136
American Homes 4 Rent, Class A, REIT		14,666		400,822
Boston Properties, Inc., REIT		3,053		437,648
CareTrust, Inc., REIT		13,174		292,199
Cousins Properties, Inc., REIT		8,337		341,233
CyrusOne, Inc., REIT		4,280		260,438
EPR Properties, REIT		4,109		293,259
Equinix, Inc., REIT		1,276		752,496
Equity Residential, REIT		7,356		611,137
Extra Space Storage, Inc., REIT		3,748		414,829
Federal Realty Investment Trust, REIT		1,881		235,163
Healthcare Trust of America, Inc., Class A, REIT		12,095		387,403
Healthpeak Properties, Inc., REIT		17,358		624,714
Hilton Worldwide Holdings, Inc.		642		69,208
Host Hotels & Resorts, Inc., REIT		25,136		410,722
Hudson Pacific Properties, Inc., REIT		5,205		189,150
Mid-America Apartment Communities, Inc., REIT		2,902		398,183
Plymouth Industrial, Inc., REIT		2,901		53,436
Prologis, Inc., REIT		8,626		801,183
Regency Centers Corp., REIT		5,184		321,615
Rexford Industrial Realty, Inc., REIT		8,795		423,831

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Global Real Estate Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
United States (continued)
Simon Property Group, Inc., REIT		4,028		$   536,328
Spirit Realty Capital, Inc., REIT		8,182		431,846
STAG Industrial, Inc., REIT		7,981		257,307
Sun Communities, Inc., REIT		2,666		432,345
UDR, Inc., REIT		9,093		435,646
Ventas, Inc., REIT		329		19,036
VEREIT, Inc.		19,884		194,068
VICI Properties, Inc., REIT		13,619		364,989
				10,815,370
Total Common Stocks (Cost $17,806,288)				20,671,742
OTHER INVESTMENT COMPANY - 0.6%
Securities Lending Collateral - 0.6%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (F)		116,370		116,370
Total Other Investment Company (Cost $116,370)				116,370

	Principal		Value
REPURCHASE AGREEMENT - 1.3%
Fixed Income Clearing Corp., 0.85% (F), dated 01/31/2020, to be repurchased at $262,028 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $269,980.		$  262,010		$   262,010
Total Repurchase Agreement (Cost $262,010)				262,010
Total Investments (Cost $18,184,668)				21,050,122
Net Other Assets (Liabilities) - (1.1)%				(220,800	)
Net Assets - 100.0%				$  20,829,322

OVER-THE-COUNTER SWAP AGREEMENTS:

Total Return Swap Agreements

Reference Entity

Counterparty

Pay/ Receive

Expiration Date

Notional Amount

Notional Amount as a Percentage of Net Assets

Value

Net Unrealized Appreciation (Depreciation)

Contracts for Difference

Equity Securities Long (G)

GSI

Receive

02/20/2020

USD   46,421

0.2

%

$

48,774

$

2,353

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
BNP	04/15/2020	USD	211,786	AUD	306,000	$	6,655	$	—
BNP	04/15/2020	USD	765	CAD	1,000		10		—
BNP	04/15/2020	USD	233,929	NOK	2,078,000		7,944		—
BNP	04/15/2020	USD	50,632	SEK	477,000		907		—
BNP	04/15/2020	NOK	49,000	USD	5,503		—		(174	)
BNP	04/15/2020	HKD	7,000	USD	900		—		—
BNP	04/15/2020	AUD	42,000	USD	28,190		—		(35	)
BNP	04/15/2020	GBP	5,000	USD	6,584		32		—
BOA	04/15/2020	USD	29,083	JPY	3,188,000		—		(462	)
BOA	04/15/2020	ZAR	120,000	USD	8,224		—		(308	)
BOA	04/15/2020	AUD	21,000	USD	14,242		—		(164	)
BOA	04/15/2020	EUR	4,000	USD	4,419		38		—
CITI	04/15/2020	GBP	1,000	USD	1,309		15		—
CITI	04/15/2020	EUR	10,000	USD	11,074		68		—
GSI	04/15/2020	USD	24,614	JPY	2,685,000		—		(270	)
GSI	04/15/2020	SGD	46,000	USD	34,152		—		(433	)
GSI	04/15/2020	AUD	70,000	USD	47,080		—		(155	)
GSI	04/15/2020	NOK	70,000	USD	7,592		21		—
HSBC	04/15/2020	USD	762	CAD	1,000		6		—
HSBC	04/15/2020	USD	540,354	HKD	4,201,000		11		—
HSBC	04/15/2020	SGD	442,000	USD	328,479		—		(4,483	)
HSBC	04/15/2020	CHF	210,000	USD	217,753		1,423		—
HSBC	04/15/2020	NOK	1,074,000	USD	119,768		—		(2,970	)
HSBC	04/15/2020	AUD	211,000	USD	145,056		—		(3,610	)

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Global Real Estate Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FORWARD FOREIGN CURRENCY CONTRACTS (continued):

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
HSBC		04/15/2020	HKD	288,000	USD	37,045	$	3	$	(5	)
HSBC		04/15/2020	GBP	10,000	USD	13,039		194		—
HSBC		04/15/2020	JPY	3,972,000	USD	36,621		189		—
JPM		04/15/2020	USD	34,566	EUR	31,000		25		—
JPM		04/15/2020	USD	31,969	NOK	285,000		975		—
JPM		04/15/2020	NOK	50,000	USD	5,561		—		(124	)
JPM		04/15/2020	AUD	141,000	USD	96,685		—		(2,164	)
SSB		04/15/2020	USD	47,873	AUD	70,000		948		—
SSB		04/15/2020	USD	1,517	CAD	2,000		6		—
SSB		04/15/2020	USD	145,979	EUR	131,000		452		(437	)
SSB		04/15/2020	USD	100,451	GBP	77,000		—		(1,434	)
SSB		04/15/2020	USD	172,222	JPY	18,726,000		—		(1,323	)
SSB		04/15/2020	USD	42,766	SEK	410,000		26		—
SSB		04/15/2020	USD	27,193	SGD	37,000		71		—
SSB		04/15/2020	GBP	7,000	USD	9,172		91		—
SSB		04/15/2020	EUR	11,000	USD	12,245		27		(15	)
SSB		04/15/2020	HKD	9,000	USD	1,157		—		—
SSB		04/15/2020	NOK	195,000	USD	21,705		—		(498	)
UBS		04/15/2020	USD	15,324	CAD	20,000		212		—
UBS		04/15/2020	JPY	36,660,000	USD	335,281		4,470		—
UBS		04/15/2020	NZD	28,000	USD	18,598		—		(481	)
UBS		04/16/2020	ILS	478,000	USD	138,632		375		—
Total							$	25,194	$	(19,545	)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Equity Real Estate Investment Trusts		73.5	%		$    15,467,641
Real Estate Management & Development		22.9			4,818,273
Diversified Telecommunication Services		0.8			163,977
Capital Markets		0.7			145,681
Hotels, Restaurants & Leisure		0.3			69,208
IT Services		0.0	(E)		6,962
Investments		98.2			20,671,742
Short-Term Investments		1.8			378,380
Total Investments		100.0	%		$    21,050,122

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Global Real Estate Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(H)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	11,177,116	$	9,494,626		$	—	$	20,671,742
Other Investment Company		116,370		—			—		116,370
Repurchase Agreement		—		262,010			—		262,010
Total Investments	$	11,293,486	$	9,756,636		$	—	$	21,050,122
Other Financial Instruments
Over-the-Counter Total Return Swap Agreements - CFD	$	—	$	2,353		$	—	$	2,353
Forward Foreign Currency Contracts (I)		—		25,194			—		25,194
Total Other Financial Instruments	$	—	$	27,547		$	—	$	27,547
LIABILITIES
Other Financial Instruments
Forward Foreign Currency Contracts (I)	$	—	$	(19,545	)	$	—	$	(19,545	)
Total Other Financial Instruments	$	—	$	(19,545	)	$	—	$	(19,545	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of the security is on loan. The value of the security on loan is $110,473. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(B)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the value of the security is $31,747, representing 0.2% of the Fund’s net assets.
(C)	Non-income producing securities.
(D)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $795,832, representing 3.8% of the Fund’s net assets.
(E)	Percentage rounds to less than 0.1% or (0.1)%.
(F)	Rates disclosed reflect the yields at January 31, 2020.
(G)	The Fund receives or pays the total return on a fund of long positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specific benchmark, with an average spread of 20 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The specified benchmark used in determining the variable rate of interest is the Federal Funds Rate.
(H)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(I)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Global Real Estate Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
CAD	Canadian Dollar
CHF	Swiss Franc
EUR	Euro
GBP	Pound Sterling
HKD	Hong Kong Dollar
ILS	Israel New Shekel
JPY	Japanese Yen
NOK	Norwegian Krone
NZD	New Zealand Dollar
SEK	Swedish Krona
SGD	Singapore Dollar
USD	United States Dollar
ZAR	South African Rand

COUNTERPARTY ABBREVIATIONS:

BNP	BNP Paribas
BOA	Bank of America, N.A.
CITI	Citibank, N.A.
GSI	Goldman Sachs International
HSBC	HSBC Bank USA
JPM	JPMorgan Chase Bank, N.A.
SSB	State Street Bank & Trust Co.
UBS	UBS AG

PORTFOLIO ABBREVIATION:

REIT Real Estate Investment Trust

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica High Quality Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 41.0%
American Express Credit Account Master Trust
Series 2017-7, Class B,
2.54%, 05/15/2025		$  1,000,000		$  1,016,868
AmeriCredit Automobile Receivables Trust
Series 2017-2, Class C,
2.97%, 03/20/2023		605,000		612,739
Series 2018-1, Class D,
3.82%, 03/18/2024		3,000,000		3,125,923
Series 2018-2, Class D,
4.01%, 07/18/2024		3,000,000		3,157,589
Capital Auto Receivables Asset Trust
Series 2016-3, Class C,
2.35%, 09/20/2021		725,000		725,694
Series 2018-2, Class C,
3.69%, 12/20/2023 (A)		1,750,000		1,781,174
Capital One Multi-Asset Execution Trust
Series 2019-A1, Class A1,
2.84%, 12/15/2024		2,850,000		2,926,370
CarMax Auto Owner Trust
Series 2018-1, Class C,
2.95%, 11/15/2023		2,485,000		2,531,160
Series 2019-1, Class B,
3.45%, 11/15/2024		920,000		961,981
CCG Receivables Trust
Series 2018-1, Class B,
3.09%, 06/16/2025 (A)		2,600,000		2,626,023
CLI Funding V LLC
Series 2013-1A, Class NOTE,
2.83%, 03/18/2028 (A)		811,200		810,010
Series 2013-3A, Class A,
3.67%, 11/18/2028 (A)		194,771		199,453
CNH Equipment Trust
Series 2017-C, Class B,
2.54%, 05/15/2025		1,140,000		1,155,398
Series 2018-A, Class B,
3.47%, 10/15/2025		1,700,000		1,748,687
Series 2019-C, Class B,
2.35%, 04/15/2027		1,730,000		1,745,313
Dell Equipment Finance Trust
Series 2017-1, Class D,
3.44%, 04/24/2023 (A)		495,000		495,289
Series 2017-2, Class C,
2.73%, 10/24/2022 (A)		1,150,000		1,154,597
Series 2018-2, Class C,
3.72%, 10/22/2023 (A)		1,220,000		1,255,682
Series 2019-1, Class C,
3.14%, 03/22/2024 (A)		1,045,000		1,068,913
Evergreen Credit Card Trust
Series 2019-1, Class B,
3.59%, 01/15/2023 (A)		1,000,000		1,011,959
Series 2019-2, Class B,
2.27%, 09/15/2024 (A)		625,000		629,286
Ford Credit Auto Lease Trust
Series 2018-A, Class B,
3.17%, 09/15/2021		1,250,000		1,258,684
Ford Credit Auto Owner Trust
Series 2017-1, Class C,
3.01%, 08/15/2028 (A)		2,000,000		2,027,086
Series 2019-C, Class B,
2.13%, 05/15/2025		2,130,000		2,149,244

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Ford Credit Floorplan Master Owner Trust
Series 2017-2, Class B,
2.34%, 09/15/2022		$   1,570,000		$   1,573,005
GM Financial Automobile Leasing Trust
Series 2018-3, Class B,
3.48%, 07/20/2022		1,100,000		1,115,186
Series 2019-2, Class B,
2.89%, 03/20/2023		1,000,000		1,015,184
GM Financial Consumer Automobile Receivables Trust
Series 2018-2, Class C,
3.31%, 12/18/2023		2,100,000		2,154,402
Series 2018-3, Class C,
3.45%, 02/16/2024		1,000,000		1,032,120
Series 2019-1, Class C,
3.52%, 09/16/2024		2,790,000		2,887,607
Hilton Grand Vacations Trust
Series 2018-AA, Class A,
3.54%, 02/25/2032 (A)		758,928		786,605
Hyundai Auto Receivables Trust
Series 2017-B, Class B,
2.23%, 02/15/2023		1,840,000		1,853,710
Series 2017-B, Class C,
2.44%, 05/15/2024		1,000,000		1,011,798
Invitation Homes Trust
Series 2018-SFR2, Class D,
1-Month LIBOR + 1.45%, 3.13% (B), 06/17/2037 (A)		3,000,000		2,999,995
Series 2018-SFR4, Class D,
1-Month LIBOR + 1.65%, 3.32% (B), 01/17/2038 (A)		2,400,000		2,411,610
Master Credit Card Trust II
Series 2018-1A, Class C,
3.74%, 07/21/2024 (A)		675,000		695,049
MVW LLC
Series 2019-2A, Class A,
2.22%, 10/20/2038 (A)		1,511,363		1,518,481
MVW Owner Trust
Series 2015-1A, Class A,
2.52%, 12/20/2032 (A)		495,023		496,549
Series 2016-1A, Class A,
2.25%, 12/20/2033 (A)		281,874		281,649
Series 2017-1A, Class A,
2.42%, 12/20/2034 (A)		623,467		629,650
Progress Residential Trust
Series 2018-SFR2, Class D,
4.34%, 08/17/2035 (A)		2,000,000		2,061,721
Series 2019-SFR3, Class D,
2.87%, 09/17/2036 (A)		1,000,000		1,003,498
Santander Drive Auto Receivables Trust
Series 2016-3, Class D,
2.80%, 08/15/2022		1,755,000		1,768,599
Series 2017-3, Class D,
3.20%, 11/15/2023		2,000,000		2,031,755
Sierra Timeshare Conduit Receivables Funding LLC
Series 2017-1A, Class A,
2.91%, 03/20/2034 (A)		264,175		267,348
Sierra Timeshare Receivables Funding LLC
Series 2015-3A, Class B,
3.08%, 09/20/2032 (A)		583,469		584,731
Series 2018-2A, Class A,
3.50%, 06/20/2035 (A)		553,810		570,762
Synchrony Credit Card Master Note Trust
Series 2017-2, Class C,
3.01%, 10/15/2025		640,000		652,036

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica High Quality Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Verizon Owner Trust
Series 2018-A, Class B,
3.38%, 04/20/2023		$   1,500,000		$   1,544,702
Series 2019-A, Class C,
3.22%, 09/20/2023		725,000		743,298
Series 2019-B, Class C,
2.60%, 12/20/2023		1,535,000		1,553,966
Volvo Financial Equipment LLC
Series 2018-1A, Class C,
3.06%, 12/15/2025 (A)		2,500,000		2,529,292
Series 2019-1A, Class B,
3.26%, 01/16/2024 (A)		660,000		681,261
VSE VOI Mortgage LLC
Series 2016-A, Class A,
2.54%, 07/20/2033 (A)		1,023,981		1,025,294
World Omni Auto Receivables Trust
Series 2018-A, Class B,
2.89%, 04/15/2025		1,500,000		1,531,337
Series 2019-B, Class B,
2.86%, 06/16/2025		625,000		644,509
World Omni Automobile Lease Securitization Trust
Series 2018-B, Class B,
3.43%, 03/15/2024		1,700,000		1,730,697
World Omni Select Auto Trust
Series 2018-1A, Class C,
3.86%, 01/15/2025 (A)		1,500,000		1,539,121
Total Asset-Backed Securities (Cost $79,379,065)				81,101,649
CORPORATE DEBT SECURITIES - 35.8%
Airlines - 2.8%
America West Airlines Pass-Through Trust
7.10%, 10/02/2022		948,123		972,275
American Airlines Pass-Through Trust
4.95%, 07/15/2024		1,401,292		1,470,071
Southwest Airlines Co.
2.65%, 11/05/2020		830,000		834,644
United Airlines Pass-Through Trust
4.63%, 03/03/2024		2,180,661		2,262,696
				5,539,686
Banks - 12.3%
Banco del Estado de Chile
2.67%, 01/08/2021 (A)		1,150,000		1,153,155
Bank of America Corp.
Fixed until 01/20/2022, 3.12% (B), 01/20/2023, MTN		2,450,000		2,508,582
Bank of Nova Scotia
2.70%, 03/07/2022		1,270,000		1,300,753
Barclays Bank PLC
5.14%, 10/14/2020		1,505,000		1,537,754
Barclays PLC
3-Month LIBOR + 2.11%, 4.01% (B), 08/10/2021		635,000		649,849
Citigroup, Inc.
4.05%, 07/30/2022		3,425,000		3,598,768
HSBC Bank USA NA
4.88%, 08/24/2020		2,252,000		2,290,112
HSBC USA, Inc.
5.00%, 09/27/2020		265,000		270,403
Huntington National Bank
3.25%, 05/14/2021		3,000,000		3,056,265
JPMorgan Chase & Co.
2.30%, 08/15/2021, MTN		640,000		641,678
2.70%, 05/18/2023		725,000		745,191

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Manufacturers & Traders Trust Co.
1-Month LIBOR + 1.22%, 2.87% (B), 12/28/2020		$   1,760,000		$   1,760,989
Toronto-Dominion Bank
1.90%, 12/01/2022, MTN (C)		2,445,000		2,458,442
Wells Fargo & Co.
3.07%, 01/24/2023		2,415,000		2,468,933
				24,440,874
Biotechnology - 1.9%
AbbVie, Inc.
2.50%, 05/14/2020		2,700,000		2,703,307
2.90%, 11/06/2022		930,000		954,892
				3,658,199
Capital Markets - 3.4%
Goldman Sachs Group, Inc.
3-Month LIBOR + 0.78%, 2.56% (B), 10/31/2022		3,500,000		3,529,805
Morgan Stanley
4.88%, 11/01/2022		3,000,000		3,234,783
				6,764,588
Consumer Finance - 1.8%
Capital One Financial Corp.
3.50%, 06/15/2023		965,000		1,013,846
Ford Motor Credit Co. LLC
3.34%, 03/28/2022		1,351,000		1,369,971
General Motors Financial Co., Inc.
4.15%, 06/19/2023		1,115,000		1,176,820
				3,560,637
Electric Utilities - 2.7%
Edison International
2.95%, 03/15/2023		1,440,000		1,475,244
Georgia Power Co.
2.40%, 04/01/2021		1,095,000		1,102,068
NextEra Energy Capital Holdings, Inc.
2.40%, 09/01/2021		1,400,000		1,414,511
Southern California Edison Co.
3.40%, 06/01/2023		1,250,000		1,313,140
				5,304,963
Equity Real Estate Investment Trusts - 1.3%
SL Green Operating Partnership, LP
3-Month LIBOR + 0.98%, 2.88% (B), 08/16/2021		2,650,000		2,650,662
Food Products - 1.7%
Campbell Soup Co.
3-Month LIBOR + 0.63%, 2.52% (B), 03/15/2021		3,300,000		3,313,596
Health Care Providers & Services - 0.4%
Cigna Corp.
3.75%, 07/15/2023		690,000		729,586
Household Durables - 1.2%
Panasonic Corp.
2.54%, 07/19/2022 (A)		2,400,000		2,435,318
Independent Power & Renewable Electricity Producers - 0.5%
Exelon Generation Co. LLC
4.25%, 06/15/2022		1,000,000		1,049,067

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica High Quality Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance - 0.4%
Allstate Corp.
3-Month LIBOR + 0.43%, 2.39% (B), 03/29/2021		$   800,000		$   802,519
Media - 0.5%
Interpublic Group of Cos., Inc.
4.00%, 03/15/2022		1,025,000		1,064,152
Oil, Gas & Consumable Fuels - 2.6%
MPLX, LP
6.25%, 10/15/2022 (A)		2,628,000		2,678,117
Occidental Petroleum Corp.
2.70%, 08/15/2022		1,000,000		1,015,502
3-Month LIBOR + 1.45%, 3.36% (B), 08/15/2022		1,477,000		1,485,259
				5,178,878
Road & Rail - 1.2%
Union Pacific Corp.
3.75%, 03/15/2024		2,250,000		2,410,436
Technology Hardware, Storage & Peripherals - 0.7%
Hewlett Packard Enterprise Co.
3-Month LIBOR + 0.72%, 2.62% (B), 10/05/2021		1,285,000		1,285,181
Wireless Telecommunication Services - 0.4%
America Movil SAB de CV
5.00%, 03/30/2020		734,000		737,509
Total Corporate Debt Securities (Cost $69,781,989)				70,925,851
MORTGAGE-BACKED SECURITIES - 10.3%
Benchmark Mortgage Trust, Interest Only STRIPS
Series 2019-B12, Class XA,
1.21% (B), 08/15/2052		35,873,197		2,687,225
BX Commercial Mortgage Trust
Series 2018-BIOA, Class C,
1-Month LIBOR + 1.12%, 2.80% (B), 03/15/2037 (A)		2,200,000		2,198,650
CGDB Commercial Mortgage Trust
Series 2019-MOB, Class D,
1-Month LIBOR + 1.65%, 3.33% (B), 11/15/2036 (A)		2,210,000		2,207,339
CGDBB Commercial Mortgage Trust
Series 2017-BIOC, Class D,
1-Month LIBOR + 1.60%, 3.28% (B), 07/15/2032 (A)		1,735,732		1,736,823
CHC Commercial Mortgage Trust
Series 2019-CHC, Class D,
1-Month LIBOR + 2.05%, 3.73% (B), 06/15/2034 (A)		2,700,000		2,696,750
Citigroup Commercial Mortgage Trust, Interest Only STRIPS
Series 2019-GC41, Class XA,
1.19% (B), 08/10/2056		13,229,860		1,045,316

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Credit Suisse Mortgage Capital Certificates
Series 2019-ICE4, Class B,
1-Month LIBOR + 1.23%, 2.91% (B), 05/15/2036 (A)		$   1,800,000		$   1,801,695
GS Mortgage Securities Corp. Trust
Series 2016-RENT, Class D,
4.20% (B), 02/10/2029 (A)		2,000,000		2,020,593
UBS Commercial Mortgage Trust
Series 2019-C17, Class XA,
1.64% (B), 10/15/2052		19,963,034		2,273,408
Wells Fargo Commercial Mortgage Trust, Interest Only STRIPS
Series 2019-C54, Class XA,
0.97% (B), 12/15/2052		23,995,054		1,666,416
Total Mortgage-Backed Securities (Cost $20,304,998)				20,334,215
U.S. GOVERNMENT AGENCY OBLIGATIONS - 8.5%
Federal Home Loan Mortgage Corp.
3.00%, 09/01/2030		1,192,269		1,238,721
4.50%, 09/01/2026		372,374		389,534
1-Year CMT + 2.04%, 4.56% (B), 06/01/2033		595,509		624,490
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
1.01% (B), 09/25/2029		28,988,245		2,124,343
1.44% (B), 07/25/2026		28,597,043		2,034,311
Federal National Mortgage Association
0.12% (B), 10/25/2021		21,569,915		39,564
0.13% (B), 11/25/2022		53,477,360		88,045
0.29% (B), 01/25/2022		19,321,940		105,189
2.50%, 09/01/2028 - 06/01/2032		7,591,200		7,759,531
Government National Mortgage Association
0.70% (B), 09/16/2059		14,437,542		895,193
4.29% (B), 12/20/2061		17,398		18,636
4.38% (B), 02/20/2063		134,899		137,126
4.39% (B), 09/20/2063		26,577		27,305
4.63% (B), 06/20/2063		65,010		66,032
4.74% (B), 05/20/2062		143,266		146,460
5.26% (B), 04/20/2061		20,401		21,446
5.27% (B), 11/20/2060		20,357		21,046
5.75%, 12/15/2022		102,708		107,336
Seasoned Loans Structured Transaction
Series 2018-1, Class A1,
3.50%, 06/25/2028		920,842		963,160
Total U.S. Government Agency Obligations (Cost $16,987,653)				16,807,468
U.S. GOVERNMENT OBLIGATIONS - 3.9%
U.S. Treasury - 3.9%
U.S. Treasury Note
1.50%, 05/15/2020		3,322,200		3,320,902
2.75%, 09/15/2021		4,355,000		4,448,735
Total U.S. Government Obligations (Cost $7,764,364)				7,769,637

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica High Quality Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
OTHER INVESTMENT COMPANY - 0.0% (D)
Securities Lending Collateral - 0.0% (D)
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (E)		4,120		$   4,120
Total Other Investment Company (Cost $4,120)				4,120
Total Investments (Cost $194,222,189)				196,942,940
Net Other Assets (Liabilities) - 0.5%				1,008,227
Net Assets - 100.0%				$  197,951,167

SECURITY VALUATION:

Valuation Inputs ^(F)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Securities	$	—	$	81,101,649	$	—	$	81,101,649
Corporate Debt Securities		—		70,925,851		—		70,925,851
Mortgage-Backed Securities		—		20,334,215		—		20,334,215
U.S. Government Agency Obligations		—		16,807,468		—		16,807,468
U.S. Government Obligations		—		7,769,637		—		7,769,637
Other Investment Company		4,120		—		—		4,120
Total Investments	$	4,120	$	196,938,820	$	—	$	196,942,940

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $52,070,528, representing 26.3% of the Fund’s net assets.
(B)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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 security is on loan. The value of the security on loan is $4,034. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(D)	Percentage rounds to less than 0.1% or (0.1)%.
(E)	Rate disclosed reflects the yield at January 31, 2020.
(F)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATIONS:

CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES - 91.3%
Aerospace & Defense - 1.3%
Bombardier, Inc.
6.13%, 01/15/2023 (A)		$  6,720,000		$  6,632,170
7.88%, 04/15/2027 (A)		4,472,000		4,236,996
Spirit AeroSystems, Inc.
4.60%, 06/15/2028		3,674,000		3,775,508
Triumph Group, Inc.
5.25%, 06/01/2022		5,182,000		5,091,315
7.75%, 08/15/2025 (B)		2,962,000		2,893,504
				22,629,493
Airlines - 0.9%
American Airlines Group, Inc.
5.00%, 06/01/2022 (A)		879,000		913,061
American Airlines Pass-Through Trust
5.60%, 01/15/2022 (A)		3,186,839		3,232,465
5.63%, 07/15/2022 (A)		1,609,918		1,639,893
Continental Airlines Pass-Through Trust
5.50%, 04/29/2022		491,430		500,713
6.90%, 10/19/2023		1,294,353		1,363,566
United Airlines Holdings, Inc.
4.25%, 10/01/2022		615,000		636,710
4.88%, 01/15/2025		5,718,000		6,032,490
United Airlines Pass-Through Trust
4.63%, 03/03/2024		1,152,993		1,196,368
				15,515,266
Auto Components - 0.9%
Dana, Inc.
5.38%, 11/15/2027		5,058,000		5,216,063
5.50%, 12/15/2024		700,000		718,032
Goodyear Tire & Rubber Co.
4.88%, 03/15/2027		2,686,000		2,766,580
5.00%, 05/31/2026 (B)		1,404,000		1,458,475
Panther BF Aggregator 2, LP / Panther Finance Co., Inc.
6.25%, 05/15/2026 (A)		2,244,000		2,406,919
8.50%, 05/15/2027 (A)		2,958,000		3,179,850
				15,745,919
Banks - 3.6%
Barclays PLC
Fixed until 06/20/2029, 5.09% (C), 06/20/2030		1,675,000		1,924,342
Fixed until 09/15/2023 (D), 7.75% (C)		5,537,000		6,063,015
Fixed until 06/15/2024 (D), 8.00% (C)		1,512,000		1,706,458
BNP Paribas SA
Fixed until 03/14/2022 (D), 6.75% (A) (B) (C)		3,950,000		4,196,875
Fixed until 03/30/2021 (D), 7.63% (A) (C)		2,298,000		2,418,645
CIT Group, Inc.
4.75%, 02/16/2024		666,000		709,290
5.00%, 08/15/2022C		3,080,000		3,272,500
Citigroup, Inc.
Fixed until 09/12/2024 (C), 5.00% (D)		5,398,000		5,646,902
Fixed until 03/27/2020 (C), 5.88% (D)		7,028,000		7,061,805
Intesa Sanpaolo SpA
5.71%, 01/15/2026 (A)		6,247,000		6,923,272
JPMorgan Chase & Co.
Fixed until 02/01/2025 (C), 4.60% (D)		2,250,000		2,293,200
3-Month LIBOR + 3.47%, 5.24% (C), 04/30/2020 (D)		1,907,000		1,918,461

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Lloyds Banking Group PLC
Fixed until 06/27/2024 (D), 7.50% (C)		$   2,622,000		$   2,938,344
Fixed until 09/27/2025 (D), 7.50% (C)		709,000		810,919
Royal Bank of Scotland Group PLC
Fixed until 08/15/2021 (D), 8.63% (C)		2,860,000		3,088,800
Societe Generale SA
Fixed until 09/13/2021 (D), 7.38% (A) (C)		5,338,000		5,683,902
UniCredit SpA
6.57%, 01/14/2022 (A)		6,270,000		6,746,611
				63,403,341
Beverages - 0.4%
Cott Holdings, Inc.
5.50%, 04/01/2025 (A)		7,360,000		7,636,000
Building Products - 2.6%
Associated Materials LLC / AMH New Finance, Inc.
9.00%, 01/01/2024 (A)		10,127,000		8,810,490
Builders FirstSource, Inc.
5.63%, 09/01/2024 (A)		2,078,000		2,155,302
6.75%, 06/01/2027 (A)		4,287,000		4,695,122
Cornerstone Building Brands, Inc.
8.00%, 04/15/2026 (A) (B)		14,209,000		14,901,689
Griffon Corp.
5.25%, 03/01/2022		11,224,000		11,211,429
Patrick Industries, Inc.
7.50%, 10/15/2027 (A)		3,404,000		3,701,850
				45,475,882
Capital Markets - 1.1%
Credit Suisse Group AG
Fixed until 12/18/2024 (A), 6.25% (C) (D)		1,350,000		1,488,299
Fixed until 08/21/2026 (A), 6.38% (C) (D)		3,782,000		4,193,293
Fixed until 09/12/2025 (A), 7.25% (C) (D)		2,450,000		2,777,688
Fixed until 07/17/2023 (A), 7.50% (C) (D)		1,875,000		2,065,969
Fixed until 12/11/2023 (A), 7.50% (C) (D)		6,403,000		7,258,735
Goldman Sachs Capital II
3-Month LIBOR + 0.77%, 4.00% (B), 03/02/2020 (C) (D)		1,048,000		942,215
Goldman Sachs Group, Inc.
3-Month LIBOR + 3.88%, 5.78% (C), 02/24/2020 (D)		1,533,000		1,534,916
				20,261,115
Chemicals - 1.9%
Eagle Intermediate Global Holding BV / Ruyi Finance LLC
7.50%, 05/01/2025 (A)		3,304,000		2,676,240
Hexion, Inc.
7.88%, 07/15/2027 (A)		4,176,000		4,301,280
NOVA Chemicals Corp.
4.88%, 06/01/2024 (A)		8,059,000		8,179,885
5.25%, 06/01/2027 (A)		5,869,000		5,971,707
OCI NV
6.63%, 04/15/2023 (A)		3,059,000		3,175,242
Olin Corp.
5.13%, 09/15/2027		4,042,000		4,212,492
5.63%, 08/01/2029 (B)		4,736,000		4,996,480
				33,513,326
Commercial Services & Supplies - 2.6%
Ashtead Capital, Inc.
4.00%, 05/01/2028 (A)		2,730,000		2,798,250
4.25%, 11/01/2029 (A)		787,000		818,480
5.25%, 08/01/2026 (A)		3,642,000		3,878,730

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Commercial Services & Supplies (continued)
Avis Budget Car Rental LLC / Avis Budget Finance, Inc.
5.50%, 04/01/2023		$   1,713,000		$   1,734,413
5.75%, 07/15/2027 (A)		7,688,000		7,995,520
6.38%, 04/01/2024 (A)		2,858,000		2,950,885
Foxtrot Escrow Issuer LLC / Foxtrot Escrow Corp.
12.25%, 11/15/2026 (A)		3,565,000		3,689,782
Garda World Security Corp.
4.63%, 02/15/2027 (A)		1,853,000		1,834,192
8.75%, 05/15/2025 (A)		6,008,000		6,278,360
GW B-CR Security Corp.
9.50%, 11/01/2027 (A)		2,287,000		2,441,372
Herc Holdings, Inc.
5.50%, 07/15/2027 (A)		8,500,000		8,879,950
Stericycle, Inc.
5.38%, 07/15/2024 (A)		3,060,000		3,203,116
				46,503,050
Communications Equipment - 1.0%
CommScope Technologies LLC
5.00%, 03/15/2027 (A)		779,000		706,943
6.00%, 06/15/2025 (A)		11,797,000		11,295,627
CommScope, Inc.
5.50%, 03/01/2024 (A)		1,255,000		1,289,513
6.00%, 03/01/2026 (A)		1,685,000		1,767,147
8.25%, 03/01/2027 (A)		1,679,000		1,725,172
Nokia OYJ
3.38%, 06/12/2022		1,764,000		1,790,460
				18,574,862
Construction & Engineering - 1.9%
Abengoa Abenewco 2 SAU
PIK Rate 1.50%, Cash Rate 0.00%, 04/26/2024 (A) (E) (F)		3,878,400		2
Ashton Woods USA LLC / Ashton Woods Finance Co.
6.63%, 01/15/2028 (A)		1,786,000		1,819,488
6.75%, 08/01/2025 (A)		2,725,000		2,806,750
9.88%, 04/01/2027 (A)		8,550,000		9,832,500
Weekley Homes LLC / Weekley Finance Corp.
6.00%, 02/01/2023		4,429,000		4,434,536
William Lyon Homes, Inc.
5.88%, 01/31/2025 1/17/2017 - 10/18/2018 (G)		6,942,000		7,150,260
6.00%, 09/01/2023 3/6/2018 - 11/22/2019 (G)		2,425,000		2,528,062
6.63%, 07/15/2027 6/24/2019 - 7/23/2019 (A) (G)		3,890,000		4,201,200
7.00%, 08/15/2022 2/7/2018 - 5/9/2018		603,000		604,508
				33,377,306
Construction Materials - 0.6%
Norbord, Inc.
6.25%, 04/15/2023 (A)		9,160,000		9,915,700
Consumer Finance - 2.3%
Ally Financial, Inc.
3.88%, 05/21/2024		2,474,000		2,609,031
5.75%, 11/20/2025		2,727,000		3,099,808
7.50%, 09/15/2020		4,646,000		4,768,771
8.00%, 03/15/2020		1,425,000		1,433,906

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Finance (continued)
Altice Financing SA
5.00%, 01/15/2028 (A)		$   1,771,000		$   1,738,254
7.50%, 05/15/2026 (A)		6,692,000		7,151,740
Navient Corp.
5.00%, 10/26/2020 - 03/15/2027		6,234,000		6,304,446
5.88%, 10/25/2024		4,730,000		4,989,772
6.50%, 06/15/2022		3,408,000		3,621,000
6.63%, 07/26/2021		1,020,000		1,074,927
Springleaf Finance Corp.
7.13%, 03/15/2026		2,705,000		3,103,582
8.25%, 12/15/2020		1,251,000		1,306,357
				41,201,594
Containers & Packaging - 4.0%
ARD Finance SA
PIK Rate 7.25%, Cash Rate 6.50%, 6.50%, 06/30/2027 (A) (E)		6,612,000		6,826,229
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
6.00%, 02/15/2025 (A)		3,857,000		4,030,565
Cascades, Inc. / Cascades USA, Inc.
5.13%, 01/15/2026 (A) (B)		1,657,000		1,710,852
5.38%, 01/15/2028 (A)		1,983,000		2,051,810
Crown Americas LLC / Crown Americas Capital Corp. VI
4.75%, 02/01/2026		7,514,000		7,787,134
Flex Acquisition Co., Inc.
6.88%, 01/15/2025 (A)		2,805,000		2,815,519
7.88%, 07/15/2026 (A)		3,391,000		3,441,865
Greif, Inc.
6.50%, 03/01/2027 (A) (B)		6,041,000		6,505,372
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/2024 (A)		4,091,000		4,215,653
7.25%, 04/15/2025 (A)		2,707,000		2,693,465
OI European Group BV
4.00%, 03/15/2023 (A)		2,545,000		2,583,175
Owens-Brockway Glass Container, Inc.
5.88%, 08/15/2023 (A) (B)		3,860,000		4,130,200
6.38%, 08/15/2025 (A)		820,000		914,300
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.13%, 07/15/2023 (A)		2,268,000		2,314,517
5.75%, 10/15/2020		2,175,647		2,180,651
7.00%, 07/15/2024 (A)		13,051,000		13,475,157
Trivium Packaging Finance BV
5.50%, 08/15/2026 (A)		2,039,000		2,148,596
8.50%, 08/15/2027 (A)		1,785,000		1,963,500
				71,788,560
Diversified Financial Services - 2.9%
Avation Capital SA
6.50%, 05/15/2021 (A)		3,305,000		3,412,413
DAE Funding LLC
4.50%, 08/01/2022 (A)		1,573,000		1,600,528
5.00%, 08/01/2024 (A)		3,964,000		4,147,335
5.25%, 11/15/2021 (A)		1,514,000		1,574,560
5.75%, 11/15/2023 (A)		1,520,000		1,596,000
Dana Financing Sarl
5.75%, 04/15/2025 (A)		11,357,000		11,839,672
ILFC E-Capital Trust I
1.55% + Max of 3-Month LIBOR, 10-Year CMT, or 30-Year CMT, 3.90% (C), 12/21/2065 (A)		8,362,000		6,647,790

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Financial Services (continued)
ILFC E-Capital Trust II
1.80% + Max of 3-Month LIBOR, 15-Year CMT or 30-Year CMT, 4.15% (C), 12/21/2065 (A)		$   3,974,000		$   3,278,828
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.25%, 02/01/2027 (A)		3,531,000		3,523,973
5.25%, 03/15/2022 (A)		8,290,000		8,517,975
Virgin Media Secured Finance PLC
5.50%, 05/15/2029 (A)		5,405,000		5,688,762
				51,827,836
Diversified Telecommunication Services - 3.8%
CenturyLink, Inc.
5.13%, 12/15/2026 (A)		3,532,000		3,637,960
5.80%, 03/15/2022		3,843,000		4,050,637
6.45%, 06/15/2021		1,564,000		1,641,418
6.75%, 12/01/2023		2,368,000		2,625,520
7.50%, 04/01/2024		4,698,000		5,300,894
Frontier Communications Corp.
7.63%, 04/15/2024		6,057,000		2,786,220
8.50%, 04/01/2026 (A)		1,542,000		1,580,550
8.75%, 04/15/2022		2,766,000		1,279,275
9.00%, 08/15/2031		5,484,000		2,550,060
11.00%, 09/15/2025		2,696,000		1,235,105
Hughes Satellite Systems Corp.
5.25%, 08/01/2026		328,000		355,847
6.63%, 08/01/2026 (B)		5,291,000		5,853,169
7.63%, 06/15/2021		6,342,000		6,781,501
Intelsat Jackson Holdings SA
8.00%, 02/15/2024 (A)		1,247,000		1,276,093
8.50%, 10/15/2024 (A)		5,205,000		4,372,200
9.50%, 09/30/2022 (A)		3,965,000		4,500,275
Level 3 Financing, Inc.
5.38%, 01/15/2024		2,314,000		2,341,953
Sprint Capital Corp.
8.75%, 03/15/2032		3,669,000		4,063,417
UPCB Finance IV, Ltd.
5.38%, 01/15/2025 (A)		6,439,000		6,593,665
Virgin Media Finance PLC
5.75%, 01/15/2025 (A)		1,300,000		1,339,000
6.00%, 10/15/2024 (A) (B)		3,105,000		3,198,461
				67,363,220
Electric Utilities - 0.4%
Elwood Energy LLC
8.16%, 07/05/2026		3,631,776		3,994,954
NextEra Energy Operating Partners, LP
4.25%, 07/15/2024 (A)		2,213,000		2,307,539
Vistra Operations Co. LLC
5.00%, 07/31/2027 (A)		1,343,000		1,383,290
				7,685,783
Energy Equipment & Services - 1.3%
CSI Compressco, LP / CSI Compressco Finance, Inc.
7.25%, 08/15/2022		6,647,000		6,248,180
7.50%, 04/01/2025 (A)		1,431,000		1,420,869
Genesis Energy, LP / Genesis Energy Finance Corp.
6.25%, 05/15/2026		2,786,000		2,660,296
6.50%, 10/01/2025		2,935,000		2,861,625
KCA Deutag Finance PLC
9.63%, 04/01/2023 (A)		5,055,000		3,513,225

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Energy Equipment & Services (continued)
Noble Holding International, Ltd.
6.05%, 03/01/2041		$   2,288,000		$   755,040
8.95%, 04/01/2045		2,283,000		936,030
Transocean Sentry, Ltd.
5.38%, 05/15/2023 (A)		2,065,000		2,070,162
USA Compression Partners, LP / USA Compression Finance Corp.
6.88%, 09/01/2027		3,012,000		3,139,709
				23,605,136
Entertainment - 0.6%
Netflix, Inc.
4.88%, 04/15/2028		3,886,000		4,158,020
4.88%, 06/15/2030 (A)		4,450,000		4,641,906
5.38%, 11/15/2029 (A)		1,123,000		1,222,318
				10,022,244
Equity Real Estate Investment Trusts - 2.7%
CBL & Associates, LP
5.25%, 12/01/2023 (B)		7,893,000		4,735,800
5.95%, 12/15/2026		872,000		436,310
HAT Holdings I LLC / HAT Holdings II LLC
5.25%, 07/15/2024 (A)		2,690,000		2,824,500
Iron Mountain US Holdings, Inc.
5.38%, 06/01/2026 (A)		1,000,000		1,046,250
Iron Mountain, Inc.
5.25%, 03/15/2028 (A)		9,677,000		10,112,465
6.00%, 08/15/2023		2,000,000		2,042,500
iStar, Inc.
4.25%, 08/01/2025		5,841,000		5,870,205
5.25%, 09/15/2022		1,438,000		1,467,660
MGM Growth Properties Operating Partnership, LP / MGP Finance Co-Issuer, Inc.
5.75%, 02/01/2027		2,539,000		2,824,638
SBA Communications Corp.
3.88%, 02/15/2027 (A) (H)		1,307,000		1,324,971
4.00%, 10/01/2022		4,165,000		4,237,887
4.88%, 07/15/2022		6,750,000		6,835,725
Service Properties Trust
4.35%, 10/01/2024		2,078,000		2,188,661
4.75%, 10/01/2026		2,278,000		2,414,085
				48,361,657
Food & Staples Retailing - 1.7%
Albertsons Cos., Inc. / Safeway, Inc.
4.63%, 01/15/2027 (A)		2,862,000		2,901,725
5.75%, 03/15/2025		10,759,000		11,135,780
6.63%, 06/15/2024		5,014,000		5,214,560
7.50%, 03/15/2026 (A)		1,383,000		1,531,672
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons LLC
4.88%, 02/15/2030 (A) (H)		1,023,000		1,050,089
Rite Aid Corp.
6.13%, 04/01/2023 (A) (G)		9,524,000		8,690,650
				30,524,476
Food Products - 1.7%
B&G Foods, Inc.
5.25%, 09/15/2027 (B)		7,259,000		7,240,852
JBS USA LUX SA / JBS USA Finance, Inc.
5.75%, 06/15/2025 (A)		1,794,000		1,857,687
Pilgrim’s Pride Corp.
5.88%, 09/30/2027 (A)		10,937,000		11,600,876

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Food Products (continued)
Post Holdings, Inc.
5.00%, 08/15/2026 (A)		$   4,143,000		$   4,277,648
5.50%, 12/15/2029 (A)		2,562,000		2,712,261
5.63%, 01/15/2028 (A)		2,756,000		2,914,470
				30,603,794
Health Care Equipment & Supplies - 0.0% (I)
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA
7.25%, 02/01/2028 (A)		798,000		812,069
Health Care Providers & Services - 5.2%
Centene Corp.
4.25%, 12/15/2027 (A)		1,425,000		1,485,563
4.63%, 12/15/2029 (A)		1,024,000		1,100,698
CHS / Community Health Systems, Inc.
5.13%, 08/01/2021 11/22/2016 - 3/31/2017 (G)		1,445,000		1,446,156
6.25%, 03/31/2023		3,037,000		3,097,740
6.63%, 02/15/2025 (A) (H)		2,069,000		2,090,062
8.00%, 03/15/2026 (A)		10,485,000		10,927,467
8.13%, 06/30/2024 (A)		1,120,000		1,006,309
DaVita HealthCare Partners, Inc.
5.13%, 07/15/2024		3,669,000		3,751,552
DaVita, Inc.
5.00%, 05/01/2025		5,056,000		5,178,001
Encompass Health Corp.
4.50%, 02/01/2028		1,697,000		1,747,978
4.75%, 02/01/2030		1,189,000		1,236,560
5.75%, 11/01/2024 - 09/15/2025		9,749,000		10,054,484
HCA Healthcare, Inc.
6.25%, 02/15/2021		3,888,000		4,021,253
HCA, Inc.
5.88%, 02/15/2026 - 02/01/2029		13,928,000		16,063,242
7.50%, 02/15/2022 - 11/06/2033		7,461,000		8,263,649
Tenet Healthcare Corp.
4.88%, 01/01/2026 (A)		3,325,000		3,447,609
5.13%, 05/01/2025		4,130,000		4,202,275
5.13%, 11/01/2027 (A)		5,825,000		6,130,812
6.75%, 06/15/2023		2,401,000		2,599,083
8.13%, 04/01/2022		3,564,000		3,893,813
				91,744,306
Hotels, Restaurants & Leisure - 6.8%
Boyd Gaming Corp.
4.75%, 12/01/2027 (A)		3,686,000		3,768,935
6.00%, 08/15/2026		1,911,000		2,030,437
6.38%, 04/01/2026		2,760,000		2,934,570
Boyne USA, Inc.
7.25%, 05/01/2025 (A)		4,944,000		5,364,240
GLP Capital, LP / GLP Financing II, Inc.
5.25%, 06/01/2025		5,131,000		5,745,817
Hilton Domestic Operating Co., Inc.
4.88%, 01/15/2030		5,222,000		5,522,265
5.13%, 05/01/2026		4,585,000		4,801,412
International Game Technology PLC
6.25%, 02/15/2022 - 01/15/2027 (A)		10,717,000		11,528,907
6.50%, 02/15/2025 (A)		2,946,000		3,321,615
Marriott Ownership Resorts, Inc. / ILG LLC
6.50%, 09/15/2026		4,546,000		4,921,045
MGM Resorts International
5.50%, 04/15/2027		4,189,000		4,607,900
5.75%, 06/15/2025		6,384,000		7,117,011
NCL Corp., Ltd.
3.63%, 12/15/2024 (A)		2,182,000		2,165,635

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Hotels, Restaurants & Leisure (continued)
Scientific Games International, Inc.
5.00%, 10/15/2025 (A)		$   3,947,000		$   4,059,332
7.00%, 05/15/2028 (A)		1,957,000		2,065,202
7.25%, 11/15/2029 (A)		1,938,000		2,078,505
8.25%, 03/15/2026 (A)		9,326,000		10,118,710
Station Casinos LLC
4.50%, 02/15/2028 (A) (H)		5,032,000		5,024,251
Viking Cruises, Ltd.
5.88%, 09/15/2027 (A)		14,353,000		14,712,543
6.25%, 05/15/2025 (A)		5,512,000		5,659,005
Waterford Gaming LLC / Waterford Gaming Financial Corp.
8.63%, 09/15/2014 (A) (F) (J) (K) (L)		1,025,248		0
Wyndham Destinations, Inc.
4.25%, 03/01/2022		1,780,000		1,822,275
5.40%, 04/01/2024		6,321,000		6,747,667
5.75%, 04/01/2027		4,931,000		5,380,954
				121,498,233
Household Durables - 2.4%
Beazer Homes USA, Inc.
5.88%, 10/15/2027 (B)		4,635,000		4,808,812
6.75%, 03/15/2025		1,724,000		1,810,200
7.25%, 10/15/2029 (A)		4,126,000		4,507,655
Century Communities, Inc.
5.88%, 07/15/2025		8,790,000		9,229,500
6.75%, 06/01/2027 5/9/2019 - 1/13/2020 (A) (G)		5,109,000		5,543,265
KB Home
4.80%, 11/15/2029		2,703,000		2,804,363
7.50%, 09/15/2022		4,108,000		4,606,095
7.63%, 05/15/2023		2,525,000		2,845,422
Lennar Corp.
4.75%, 05/30/2025		1,600,000		1,747,104
5.00%, 06/15/2027		3,208,000		3,552,860
Meritage Homes Corp.
5.13%, 06/06/2027		1,570,000		1,687,750
				43,143,026
Independent Power & Renewable Electricity Producers - 1.0%
Calpine Corp.
4.50%, 02/15/2028 (A)		4,359,000		4,337,205
5.13%, 03/15/2028 (A)		2,702,000		2,683,424
5.25%, 06/01/2026 (A)		7,839,000		8,094,551
NRG Energy, Inc.
7.25%, 05/15/2026		2,823,000		3,055,954
				18,171,134
Insurance - 1.5%
Hartford Financial Services Group, Inc.
3-Month LIBOR + 2.13%, 4.03% (C), 02/12/2067 (A)		10,881,000		10,472,963
Lincoln National Corp.
3-Month LIBOR + 2.36%, 4.26% (C), 05/17/2066		12,169,000		10,952,100
Ohio National Financial Services, Inc.
5.55%, 01/24/2030 (A)		6,026,000		6,186,431
				27,611,494
Leisure Products - 0.4%
Mattel, Inc.
3.15%, 03/15/2023 (B)		1,554,000		1,538,460
5.45%, 11/01/2041		1,400,000		1,242,500
5.88%, 12/15/2027 (A)		420,000		441,483
6.75%, 12/31/2025 (A)		2,862,000		3,069,495
				6,291,938

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Machinery - 1.0%
Colfax Corp.
6.00%, 02/15/2024 (A)		$   2,885,000		$   3,037,385
6.38%, 02/15/2026 (A)		845,000		907,319
Meritor, Inc.
6.25%, 02/15/2024		13,126,000		13,454,150
				17,398,854
Media - 7.2%
Adelphia Communications Corp.
9.25%, 10/01/2049 (J) (K)		1,305,000		91
10.25%, 06/15/2049 (J) (K) (M)		840,000		59
10.25%, 11/01/2049 (J) (K)		620,000		43
Altice Luxembourg SA
7.63%, 02/15/2025 (A) (B)		1,450,000		1,507,565
CCO Holdings LLC / CCO Holdings Capital Corp.
4.75%, 03/01/2030 (A)		7,952,000		8,175,650
5.00%, 02/01/2028 (A)		3,937,000		4,119,086
5.38%, 06/01/2029 (A)		1,590,000		1,701,300
5.50%, 05/01/2026 (A)		4,777,000		4,991,965
5.75%, 01/15/2024		1,005,000		1,026,356
5.75%, 02/15/2026 (A)		13,282,000		13,937,334
Clear Channel Worldwide Holdings, Inc.
5.13%, 08/15/2027 (A)		4,800,000		4,944,000
9.25%, 02/15/2024 2/7/2019 - 2/12/2019 (A)		4,051,000		4,410,526
CSC Holdings LLC
5.38%, 07/15/2023 (A)		750,000		765,975
6.63%, 10/15/2025 (A)		7,331,000		7,739,703
7.50%, 04/01/2028 (A)		1,901,000		2,162,768
7.75%, 07/15/2025 (A)		2,536,000		2,672,361
10.88%, 10/15/2025 (A)		2,107,000		2,333,924
Diamond Sports Group LLC / Diamond Sports Finance Co.
5.38%, 08/15/2026 (A)		4,091,000		4,075,053
6.63%, 08/15/2027 (A) (B)		609,000		569,415
DISH DBS Corp.
5.00%, 03/15/2023		5,072,000		5,148,181
5.88%, 07/15/2022		975,000		1,023,750
6.75%, 06/01/2021		3,254,000		3,412,632
7.75%, 07/01/2026 (B)		7,985,000		8,384,250
Gray Television, Inc.
7.00%, 05/15/2027 (A)		1,327,000		1,444,838
iHeartCommunications, Inc.
8.38%, 05/01/2027		2,589,000		2,815,512
Lamar Media Corp.
3.75%, 02/15/2028 (A) (H)		395,000		397,639
4.00%, 02/15/2030 (A) (H)		395,000		397,962
LCPR Senior Secured Financing DAC
6.75%, 10/15/2027 (A)		3,185,000		3,368,265
Scripps Escrow, Inc.
5.88%, 07/15/2027 (A)		1,563,000		1,641,150
Sinclair Television Group, Inc.
5.50%, 03/01/2030 (A)		4,238,000		4,333,355
5.63%, 08/01/2024 (A)		2,037,000		2,095,564
Sirius XM Radio, Inc.
4.63%, 07/15/2024 (A)		2,263,000		2,346,448
5.50%, 07/01/2029 (A)		1,598,000		1,719,688
TEGNA, Inc.
4.63%, 03/15/2028 (A)		2,133,000		2,143,665
Terrier Media Buyer, Inc.
8.88%, 12/15/2027 (A)		2,676,000		2,756,280
Univision Communications, Inc.
5.13%, 05/15/2023 (A)		12,431,000		12,431,000

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
Ziggo Bond Co. BV
6.00%, 01/15/2027 (A)		$   3,225,000		$   3,386,959
Ziggo BV
5.50%, 01/15/2027 (A)		3,752,000		3,977,120
				128,357,432
Metals & Mining - 3.5%
Alcoa Nederland Holding BV
7.00%, 09/30/2026 (A)		5,195,000		5,630,341
Cleveland-Cliffs, Inc.
4.88%, 01/15/2024 (A)		3,126,000		3,139,036
5.75%, 03/01/2025		710,000		688,700
5.88%, 06/01/2027 (A)		2,624,000		2,420,640
Constellium SE
5.75%, 05/15/2024 (A) (B)		5,213,000		5,343,325
5.88%, 02/15/2026 (A)		1,790,000		1,848,175
6.63%, 03/01/2025 (A)		7,032,000		7,251,750
First Quantum Minerals, Ltd.
7.25%, 04/01/2023 (A)		2,566,000		2,548,359
Freeport-McMoRan, Inc.
4.55%, 11/14/2024		1,875,000		1,980,469
5.45%, 03/15/2043		5,050,000		5,151,000
Mineral Resources, Ltd.
8.13%, 05/01/2027 (A)		3,492,000		3,815,010
New Gold, Inc.
6.25%, 11/15/2022 (A)		3,333,000		3,339,249
6.38%, 05/15/2025 (A)		4,117,000		3,869,980
Novelis Corp.
4.75%, 01/30/2030 (A)		2,671,000		2,682,752
5.88%, 09/30/2026 (A)		4,038,000		4,280,280
Teck Resources, Ltd.
6.00%, 08/15/2040		6,513,000		7,491,248
6.25%, 07/15/2041		643,000		750,075
				62,230,389
Oil, Gas & Consumable Fuels - 10.6%
Antero Resources Corp.
5.00%, 03/01/2025		3,322,000		2,191,856
Callon Petroleum Co.
6.13%, 10/01/2024		7,331,000		7,010,269
6.38%, 07/01/2026 (B)		3,965,000		3,746,925
Carrizo Oil & Gas, Inc.
6.25%, 04/15/2023		3,112,000		3,119,780
8.25%, 07/15/2025		4,645,000		4,739,154
Cheniere Corpus Christi Holdings LLC
5.88%, 03/31/2025		2,801,000		3,175,494
Cheniere Energy Partners, LP
5.63%, 10/01/2026		3,609,000		3,780,435
Chesapeake Energy Corp.
7.00%, 10/01/2024		2,717,000		1,426,479
7.50%, 10/01/2026		4,652,000		2,372,520
11.50%, 01/01/2025 (A)		3,534,000		2,843,810
Continental Resources, Inc.
5.00%, 09/15/2022		2,335,000		2,347,024
CrownRock, LP / CrownRock Finance, Inc.
5.63%, 10/15/2025 (A)		6,092,000		6,146,036
DCP Midstream Operating, LP
5.38%, 07/15/2025		851,000		928,756
DCP Midstream, LP
Fixed until 12/15/2022 (D), 7.38% (C)		3,349,000		3,164,805
Denbury Resources, Inc.
7.75%, 02/15/2024 (A)		1,903,000		1,527,157
9.00%, 05/15/2021 (A)		5,762,000		5,416,280
eG Global Finance PLC
6.75%, 02/07/2025 (A)		5,186,000		5,250,825
8.50%, 10/30/2025 (A)		2,947,000		3,123,820

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
EP Energy LLC / Everest Acquisition Finance, Inc.
7.75%, 05/15/2026 (A) (L)		$   3,079,000		$   2,062,930
8.00%, 11/29/2024 (A) (L)		1,526,000		791,613
Gulfport Energy Corp.
6.00%, 10/15/2024		2,007,000		1,106,258
6.38%, 05/15/2025 - 01/15/2026		6,340,000		3,141,052
Hess Midstream Operations, LP
5.13%, 06/15/2028 (A)		3,543,000		3,657,191
HighPoint Operating Corp.
8.75%, 06/15/2025		4,089,000		3,756,769
Kinder Morgan, Inc.
8.05%, 10/15/2030, MTN		2,486,000		3,304,095
Moss Creek Resources Holdings, Inc.
7.50%, 01/15/2026 (A)		853,000		625,889
10.50%, 05/15/2027 (A)		2,410,000		1,928,000
NuStar Logistics, LP
4.80%, 09/01/2020		7,306,000		7,360,795
5.63%, 04/28/2027		4,581,000		4,718,430
6.00%, 06/01/2026		531,000		558,718
6.75%, 02/01/2021		2,632,000		2,708,854
Oasis Petroleum, Inc.
6.25%, 05/01/2026 (A) (B)		5,149,000		3,929,331
6.88%, 03/15/2022		6,285,000		6,033,600
Parkland Fuel Corp.
5.88%, 07/15/2027 (A)		2,935,000		3,110,219
Parsley Energy LLC / Parsley Finance Corp.
5.25%, 08/15/2025 (A)		1,778,000		1,822,450
5.38%, 01/15/2025 (A)		3,704,000		3,810,934
5.63%, 10/15/2027 (A)		2,618,000		2,755,445
PDC Energy, Inc.
6.13%, 09/15/2024		9,005,000		9,027,512
Shelf Drilling Holdings, Ltd.
8.25%, 02/15/2025 (A)		2,389,000		2,221,770
SM Energy Co.
5.63%, 06/01/2025		825,000		746,625
6.13%, 11/15/2022		3,265,000		3,232,350
6.63%, 01/15/2027 (B)		4,965,000		4,493,325
6.75%, 09/15/2026		2,812,000		2,553,451
Southwestern Energy Co.
7.50%, 04/01/2026 (B)		4,737,000		3,953,974
Summit Midstream Holdings LLC / Summit Midstream Finance Corp.
5.75%, 04/15/2025		2,540,000		1,953,692
Summit Midstream Partners, LP
Fixed until 12/15/2022 (D), 9.50% (C)		4,110,000		2,116,650
Targa Resources Partners, LP / Targa Resources Partners Finance Corp.
5.00%, 01/15/2028		3,140,000		3,194,950
5.13%, 02/01/2025		6,506,000		6,701,180
5.50%, 03/01/2030 (A)		4,392,000		4,529,689
5.88%, 04/15/2026		2,030,000		2,141,650
6.50%, 07/15/2027		1,228,000		1,338,520
6.75%, 03/15/2024		5,238,000		5,407,816
Ultra Resources, Inc.
6.88%, 04/15/2022 (A)		811,000		81,100
7.13%, 04/15/2025 (A)		3,098,000		209,115
Whiting Petroleum Corp.
5.75%, 03/15/2021		4,081,000		3,815,735
6.63%, 01/15/2026 (B)		6,484,000		3,643,197
WPX Energy, Inc.
5.25%, 09/15/2024		3,026,000		3,169,735
8.25%, 08/01/2023		4,190,000		4,834,212
				188,860,246

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Paper & Forest Products - 0.1%
Boise Cascade Co.
5.63%, 09/01/2024 (A)		$   1,860,000		$   1,929,750
Pharmaceuticals - 1.9%
Bausch Health Americas, Inc.
8.50%, 01/31/2027 (A)		1,892,000		2,140,325
9.25%, 04/01/2026 (A)		3,917,000		4,470,276
Bausch Health Cos., Inc.
5.00%, 01/30/2028 (A)		598,000		605,475
5.25%, 01/30/2030 (A)		598,000		609,213
5.50%, 11/01/2025 (A)		1,745,000		1,807,523
5.88%, 05/15/2023 (A)		569,000		573,979
6.13%, 04/15/2025 (A)		6,271,000		6,450,476
6.50%, 03/15/2022 (A)		866,000		882,073
7.00%, 01/15/2028 (A)		1,755,000		1,900,911
Endo Dac / Endo Finance LLC
6.00%, 07/15/2023 (A)		8,012,000		6,129,180
Endo Finance LLC / Endo Finco, Inc.
5.38%, 01/15/2023 (A)		1,931,000		1,438,595
Par Pharmaceutical, Inc.
7.50%, 04/01/2027 (A)		4,574,000		4,654,045
Teva Pharmaceutical Finance III BV
6.75%, 03/01/2028 (B)		2,983,000		3,106,794
				34,768,865
Road & Rail - 2.0%
Avolon Holdings Funding, Ltd.
5.13%, 10/01/2023 (A)		3,558,000		3,871,353
5.25%, 05/15/2024 (A)		2,500,000		2,751,000
Hertz Corp.
5.50%, 10/15/2024 (A) (B)		6,240,000		6,330,979
6.00%, 01/15/2028 (A)		8,482,000		8,556,218
6.25%, 10/15/2022		2,029,000		2,049,290
Park Aerospace Holdings, Ltd.
5.25%, 08/15/2022 (A)		971,000		1,038,698
Uber Technologies, Inc.
7.50%, 09/15/2027 (A)		9,657,000		10,185,141
8.00%, 11/01/2026 (A)		1,274,000		1,355,479
				36,138,158
Semiconductors & Semiconductor Equipment - 0.4%
NXP BV / NXP Funding LLC
3.88%, 09/01/2022 (A)		4,620,000		4,826,926
Sensata Technologies, Inc., Co.
4.38%, 02/15/2030 (A)		1,591,000		1,612,558
				6,439,484
Software - 0.8%
Infor US, Inc.
6.50%, 05/15/2022		7,346,000		7,401,095
PTC, Inc.
3.63%, 02/15/2025 (H)		1,134,000		1,143,923
4.00%, 02/15/2028 (H)		813,000		821,130
Sophia, LP / Sophia Finance, Inc.
9.00%, 09/30/2023 (A)		4,254,000		4,370,985
				13,737,133
Specialty Retail - 1.0%
L Brands, Inc.
5.25%, 02/01/2028		700,000		694,750
6.75%, 07/01/2036		5,377,000		5,335,597
6.88%, 11/01/2035		6,144,000		6,159,360

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Specialty Retail (continued)
Staples, Inc.
7.50%, 04/15/2026 (A)		$   5,630,000		$   5,767,372
				17,957,079
Technology Hardware, Storage & Peripherals - 1.9%
Dell International LLC / EMC Corp.
5.88%, 06/15/2021 (A)		1,739,000		1,756,390
7.13%, 06/15/2024 (A)		8,511,000		8,947,189
8.35%, 07/15/2046 (A)		2,901,000		4,051,413
NCR Corp.
5.75%, 09/01/2027 (A)		1,656,000		1,763,980
6.13%, 09/01/2029 (A)		1,935,000		2,111,375
Seagate HDD Cayman
4.25%, 03/01/2022		1,855,000		1,921,417
4.75%, 01/01/2025		1,044,000		1,123,221
4.88%, 03/01/2024 - 06/01/2027		4,288,000		4,594,881
Western Digital Corp.
4.75%, 02/15/2026 (B)		6,773,000		7,230,178
				33,500,044
Trading Companies & Distributors - 1.3%
United Rentals North America, Inc.
4.63%, 10/15/2025		2,696,000		2,754,975
5.50%, 07/15/2025 - 05/15/2027		15,203,000		15,823,749
6.50%, 12/15/2026		3,657,000		3,972,417
				22,551,141
Wireless Telecommunication Services - 2.1%
Altice France SA
7.38%, 05/01/2026 (A)		8,459,000		9,009,512
Sprint Corp.
7.13%, 06/15/2024		13,138,000		13,569,583
7.25%, 09/15/2021		3,268,000		3,427,315
7.63%, 03/01/2026		1,850,000		1,930,752
T-Mobile USA, Inc.
4.00%, 04/15/2022		1,493,000		1,534,058
4.50%, 02/01/2026		5,104,000		5,249,107
6.50%, 01/15/2024		1,882,000		1,931,402
				36,651,729
Total Corporate Debt Securities (Cost $1,620,647,594)				1,625,328,064
LOAN ASSIGNMENTS - 1.2%
Communications Equipment - 0.3%
Avaya, Inc.
Term Loan B,
1-Month LIBOR + 4.25%, 5.93% (C), 12/15/2024		6,292,801		6,159,079
Hotels, Restaurants & Leisure - 0.1%
Connect Finco SARL
Term Loan B,
1-Month LIBOR + 4.50%, 6.15% (C), 12/11/2026		2,175,182		2,185,514
Software - 0.4%
Infor, Inc.
Term Loan B6,
3-Month LIBOR + 2.75%, 4.69% (C), 02/01/2022		6,933,252		6,954,052

	Principal		Value
LOAN ASSIGNMENTS (continued)
Wireless Telecommunication Services - 0.4%
Sprint Communications, Inc.
1st Lien Term Loan B,
1-Month LIBOR + 2.50%, 4.19% (C), 02/02/2024		$   6,037,913		$   5,947,345
Term Loan B,
1-Month LIBOR + 3.00%, 4.69% (C), 02/02/2024		1,045,982		1,030,292
				6,977,637
Total Loan Assignments (Cost $22,317,198)				22,276,282
	Shares		Value
COMMON STOCKS - 0.3%
Chemicals - 0.2%
Hexion Holdings Corp., Class B (N)		273,716		3,558,308
Electric Utilities - 0.1%
Homer City Generation LLC (G) (J) (K) (N)		270,659		1,506,488
Software - 0.0% (I)
ASG WT Corp. (J) (K) (N)		1,265		96,102
Total Common Stocks (Cost $22,546,736)				5,160,898
PREFERRED STOCKS - 1.0%
Banks - 0.9%
GMAC Capital Trust I,
Series 2, 3-Month LIBOR + 5.79%, 7.69% (C)		609,300		16,237,845
Building Products - 0.1%
Associated Materials Group, Inc.,
PIK Rate 0.00%, Cash Rate 0.00% (E) (G) (J) (K)		11,675,323		2,254,505
Total Preferred Stocks (Cost $27,075,409)				18,492,350
WARRANT - 0.0%
Building Products - 0.0%
Associated Materials Group, Inc., (F) (G) (J) (K) (N)
Exercise Price $0,
Expiration Date 11/17/2023		116,602		0
Total Warrant (Cost $16,134)				0
OTHER INVESTMENT COMPANY - 1.8%
Securities Lending Collateral - 1.8%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (O)		31,288,123		31,288,123
Total Other Investment Company (Cost $31,288,123)				31,288,123

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
REPURCHASE AGREEMENT - 8.1%
Fixed Income Clearing Corp., 0.85% (O), dated 01/31/2020, to be repurchased at $143,949,536 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $146,823,065.		$  143,939,340		$   143,939,340
Total Repurchase Agreement (Cost $143,939,340)				143,939,340
Total Investments (Cost $1,867,830,534)				1,846,485,057
Net Other Assets (Liabilities) - (3.7)%				(66,661,361	)
Net Assets - 100.0%				$  1,779,823,696

SECURITY VALUATION:

Valuation Inputs ^(P)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (Q)		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	1,625,327,871	$	193	$	1,625,328,064
Loan Assignments		—		22,276,282		—		22,276,282
Common Stocks		3,558,308		—		1,602,590		5,160,898
Preferred Stocks		16,237,845		—		2,254,505		18,492,350
Warrant		—		—		—		—
Other Investment Company		31,288,123		—		—		31,288,123
Repurchase Agreement		—		143,939,340		—		143,939,340
Total Investments	$	51,084,276	$	1,791,543,493	$	3,857,288	$	1,846,485,057

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $907,375,604, representing 51.0% of the Fund’s net assets.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $30,635,832. 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.
(C)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)	Perpetual maturity. The date displayed is the next call date.
(E)	Payment in-kind. Securities pay interest or dividends in the form of additional bonds or preferred stock. If the securities make a cash payment in addition to in-kind, the cash rate is disclosed separately.
(F)	Rounds to less than $1 or $(1).

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica High Yield Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(G) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value			Value as Percentage of Net Assets
Corporate Debt Securities	William Lyon Homes, Inc. 5.88%, 01/31/2025		1/17/2017 - 10/18/2018	$	6,955,324	$	7,150,260			0.4	%
Corporate Debt Securities	William Lyon Homes, Inc. 6.00%, 09/01/2023		3/6/2018 - 11/22/2019		2,445,188		2,528,062			0.2
Corporate Debt Securities	William Lyon Homes, Inc. 6.63%, 07/15/2027		6/24/2019 - 7/23/2019		3,886,238		4,201,200			0.2
Corporate Debt Securities	Rite Aid Corp. 6.13%, 04/01/2023		3/19/2015 - 1/13/2020		9,024,356		8,690,650			0.5
Corporate Debt Securities	CHS / Community Health Systems, Inc. 5.13%, 08/01/2021		11/22/2016 - 3/31/2017		1,358,934		1,446,156			0.1
Corporate Debt Securities	Century Communities, Inc. 6.75%, 06/01/2027		5/9/2019 - 1/13/2020		5,296,486		5,543,265			0.3
Common Stocks	Homer City Generation LLC		8/21/2017		13,906,767		1,506,488			0.1
Preferred Stocks	Associated Materials Group, Inc., 0.00%		6/30/2017 - 12/31/2018		11,305,953		2,254,505			0.1
Warrant	Associated Materials Group, Inc., 11/17/2023		3/24/2017		16,134		0	(F)		0.0	(I)
Total				$	54,195,380	$	33,320,586			1.9	%

(H)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(I)	Percentage rounds to less than 0.1% or (0.1)%.
(J)	Securities are Level 3 of the fair value hierarchy.
(K)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $3,857,288, representing 0.2% of the Fund’s net assets.
(L)	Securities in default; no interest payments received and/or dividends declared during the last 12 months. At January 31, 2020, the total value of such securities is $2,854,543, representing 0.2% of the Fund’s net assets.
(M)	Escrow position. Position represents remaining escrow balance expected to be received upon finalization of restructuring.
(N)	Non-income producing securities.
(O)	Rates disclosed reflect the yields at January 31, 2020.
(P)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(Q)	Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES - 0.7%
Construction & Engineering - 0.3%
CalAtlantic Group, Inc.
5.88%, 11/15/2024		$  350,000		$  369,688
Food & Staples Retailing - 0.4%
Ingles Markets, Inc.
5.75%, 06/15/2023 (A)		453,000		460,737
Total Corporate Debt Securities (Cost $791,182)				830,425
MUNICIPAL GOVERNMENT OBLIGATIONS - 92.0%
Alabama - 0.5%
Alabama Industrial Development Authority, Revenue Bonds,
6.45%, 12/01/2023		175,000		177,191
County of Perry, General Obligation Unlimited
Series A,
5.50%, 12/01/2040		50,000		50,771
Series B,
7.38%, 12/01/2030		345,000		352,635
				580,597
Arizona - 2.0%
Arizona Industrial Development Authority, Revenue Bonds,
Series B,
5.13%, 01/01/2054		50,000		55,558
Industrial Development Authority of the City of Phoenix, Revenue Bonds,
4.63%, 07/01/2026 (B)		600,000		652,284
Industrial Development Authority of the County of Pima, Revenue Bonds,
6.95%, 07/01/2041		150,000		150,318
La Paz County Industrial Development Authority, Revenue Bonds,
5.88%, 06/15/2048 (B)		500,000		529,325
Maricopa County Industrial Development Authority, Revenue Bonds,
5.00%, 07/01/2036		110,000		126,148
Tempe Industrial Development Authority, Revenue Bonds,
Series B,
5.35%, 10/01/2025 (B)		750,000		781,492
				2,295,125
Arkansas - 0.0% (C)
Saline County Property Owners Improvement District No. 49, General Obligation Limited,
Series A,
5.75%, 02/01/2036		15,000		15,010
California - 7.3%
California County Tobacco Securitization Agency, Revenue Bonds
5.70% (D), 06/01/2046		260,000		263,554
5.75%, 06/01/2029		15,000		15,163
5.88%, 06/01/2035		180,000		181,859
Series A,
5.88%, 06/01/2043		45,000		45,641

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
California Municipal Finance Authority, Revenue Bonds
4.00%, 08/15/2020 (B)		$   250,000		$   252,505
5.00%, 01/01/2049		780,000		936,289
Series A,
5.50%, 06/01/2038 (B)		700,000		802,711
California Public Finance Authority, Revenue Bonds,
5.00%, 06/15/2049 (B)		250,000		258,260
California Statewide Communities Development Authority, Revenue Bonds
5.00%, 11/01/2048		610,000		682,462
Series A,
5.25%, 12/01/2056 (B)		500,000		569,455
Series B,
6.00%, 12/01/2024		210,000		228,808
California Statewide Financing Authority, Revenue Bonds
6.00%, 05/01/2037		25,000		25,180
Series A,
5.63%, 05/01/2029		20,000		20,150
Cypress School District, General Obligation Unlimited,
Zero Coupon (D), 08/01/2050		100,000		94,847
Golden State Tobacco Securitization Corp., Revenue Bonds
Series A-1,
5.00%, 06/01/2026 - 06/01/2047		2,850,000		3,121,062
Palomar Health, Revenue Bonds,
5.00%, 11/01/2028		45,000		53,799
Santee School District, General Obligation Unlimited,
Series E, AGM,
Zero Coupon, 05/01/2051		150,000		61,634
Tobacco Securitization Authority of Northern California, Revenue Bonds,
Series A-1,
4.75%, 06/01/2023		60,000		60,656
Upland Community Facilities District, Special Tax,
Series A,
3.50%, 09/01/2049		600,000		626,976
				8,301,011
Colorado - 10.4%
Aerotropolis Regional Transportation Authority, Revenue Bonds,
5.00%, 12/01/2051		290,000		307,510
Brighton Crossing Metropolitan District No. 4, General Obligation Limited,
Series A,
5.00%, 12/01/2047		500,000		531,480
Bromley Park Metropolitan District No. 2, General Obligation Limited,
Series B,
6.38%, 12/15/2047		937,000		985,368
Colorado Health Facilities Authority, Revenue Bonds
Series A,
4.00%, 08/01/2049		3,000,000		3,333,720
5.00%, 09/15/2053		250,000		284,017
Colorado International Center Metropolitan District No. 14, General Obligation Limited,
5.88%, 12/01/2046		1,000,000		1,097,630

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Colorado (continued)
Denver Connection West Metropolitan District, General Obligation Limited,
Series A,
5.38%, 08/01/2047		$   500,000		$   527,700
Denver International Business Center Metropolitan District No. 1, General Obligation Limited,
6.00%, 12/01/2048		500,000		533,300
High Plains Metropolitan District, General Obligation Unlimited,
NATL,
4.00%, 12/01/2047		390,000		426,231
Painted Prairie Metropolitain District No. 2, General Obligation Limited,
5.25%, 12/01/2048		2,000,000		2,101,060
Painted Prairie Public Improvement Authority, Revenue Bonds,
5.00%, 12/01/2049		1,000,000		1,035,280
Park 70 Metropolitan District, General Obligation Unlimited,
AGM,
4.00%, 12/01/2048		250,000		276,535
Public Authority for Colorado Energy, Revenue Bonds,
6.50%, 11/15/2038		60,000		94,607
Town of Frisco Marina Enterprise Revenue, Revenue Bonds,
5.00%, 12/01/2048		150,000		160,880
				11,695,318
Connecticut - 0.2%
Connecticut State Health & Educational Facilities Authority, Revenue Bonds,
Series J,
5.00%, 07/01/2042		205,000		218,688
South Central Connecticut Regional Water Authority, Revenue Bonds,
AGM,
4.50%, 08/01/2038		10,000		10,021
				228,709
Delaware - 0.9%
Delaware State Economic Development Authority, Revenue Bonds,
5.00%, 08/01/2054		835,000		966,838
District of Columbia - 1.0%
District of Columbia, Revenue Bonds,
Series B,
5.00%, 07/01/2048		100,000		118,267
District of Columbia Tobacco Settlement Financing Corp., Revenue Bonds
6.50%, 05/15/2033		10,000		11,590
6.75%, 05/15/2040		1,000,000		1,034,150
Series A,
Zero Coupon, 06/15/2046		100,000		19,741
				1,183,748
Florida - 1.8%
County of Lake, Revenue Bonds,
5.00%, 01/15/2054 (B)		825,000		902,261
JEA Electric System Revenue, Revenue Bonds,
3.63%, 10/01/2035		500,000		500,510

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Florida (continued)
Northern Palm Beach County Improvement District, Special Assessment
4.50%, 08/01/2031		$   50,000		$   51,207
5.13%, 08/01/2022		10,000		10,229
Santa Rosa Bay Bridge Authority, Revenue Bonds,
ACA-CBI, NATL-IBC,
Zero Coupon, 07/01/2020		19,271		19,024
Sarasota National Community Development District, Special Assessment,
5.30%, 05/01/2039		25,000		25,024
St. Johns County Industrial Development Authority, Revenue Bonds,
Series A,
Fixed until 08/01/2024, 4.13% (E), 08/01/2047		500,000		511,860
				2,020,115
Georgia - 0.2%
Atlanta Development Authority, Revenue Bonds,
Series A, ACA,
6.25%, 07/01/2036		20,000		20,071
Gainesville & Hall County Hospital Authority, Revenue Bonds,
Series A,
5.50%, 08/15/2054		215,000		252,640
				272,711
Hawaii - 0.3%
State of Hawaii, General Obligation Unlimited,
5.00%, 06/01/2026		30,000		30,096
State of Hawaii Department of Transportation, Revenue Bonds,
5.63%, 11/15/2027		295,000		297,976
				328,072
Idaho - 1.5%
Idaho Housing & Finance Association, Revenue Bonds
Series A,
5.00%, 06/01/2035		285,000		320,534
6.00%, 07/01/2049 - 07/01/2054 (B)		1,155,000		1,340,995
				1,661,529
Illinois - 14.1%
Chicago Board of Education, General Obligation Unlimited
Series A,
5.50%, 12/01/2039		25,000		26,622
Series A, AGM,
5.00%, 12/01/2035		550,000		670,714
City of Belleville, Revenue Bonds,
Series B,
7.88%, 05/01/2029		270,000		230,931
City of Chicago, General Obligation Unlimited
7.52%, 01/01/2040		205,000		273,782
AMBAC,
5.00%, 01/01/2029		160,000		160,288
Series A,
5.00%, 01/01/2044		1,000,000		1,173,490
6.00%, 01/01/2038		1,195,000		1,475,634

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
City of Chicago, General Obligation Unlimited (continued)
Series A, AGM,
4.75%, 01/01/2036		$   70,000		$   70,120
5.00%, 01/01/2026		65,000		65,118
Series A, NATL,
5.00%, 01/01/2029		30,000		30,054
Series B,
5.43%, 01/01/2042		1,450,000		1,634,686
6.21%, 01/01/2032		250,000		293,310
Series C,
Zero Coupon, 01/01/2024		145,000		132,006
5.00%, 01/01/2026 - 01/01/2038		1,015,000		1,150,577
Series C, AGM-CR, NATL-RE,
5.00%, 01/01/2031		50,000		50,091
Series D,
4.30%, 01/01/2024		30,000		30,045
City of Chicago Waterworks Revenue, Revenue Bonds,
5.00%, 11/01/2026		40,000		43,976
Cook County Community College District No. 508, General Obligation Unlimited,
5.50%, 12/01/2038		500,000		553,235
Cook County School District No. 132, General Obligation Limited
Series A, AGM,
4.10%, 12/01/2024		178,000		190,647
4.20%, 12/01/2027		361,000		417,525
Harvard Special Service Area No. 5, Special Assessment,
4.65%, 02/01/2020		105,000		105,000
Illinois Finance Authority, Revenue Bonds
4.00%, 08/01/2032		440,000		476,322
Series A,
5.00%, 07/01/2020 - 11/01/2049		800,000		862,709
Lake County School District No. 38, General Obligation Unlimited,
AMBAC,
Zero Coupon, 02/01/2020		60,000		60,000
Lombard Public Facilities Corp., Revenue Bonds,
Series A-2, ACA-CBI,
5.50%, 01/01/2025 (B)		50,000		50,322
Macoupin Sangamon & Montgomery Counties Community Unit School District, General Obligation Unlimited,
BAM,
4.50%, 12/01/2042		320,000		344,944
Metropolitan Pier & Exposition Authority, Revenue Bonds
Series B,
5.00%, 06/15/2052		45,000		47,568
Series B, AGM,
5.00%, 06/15/2050		185,000		187,760
Series B2,
5.00%, 06/15/2050		15,000		15,221
5.20%, 06/15/2050		25,000		25,386
Northern Illinois University, Revenue Bonds,
AGM,
7.95%, 04/01/2035		175,000		176,435
South Sangamon Water Commission, General Obligation Unlimited,
6.13%, 01/01/2041		35,000		35,067
Southern Illinois University, Certificate of Participation
Series A-1, BAM,
4.50%, 02/15/2031 - 02/15/2032		125,000		128,984

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Southern Illinois University, Revenue Bonds
Series A, AGM,
4.50%, 04/01/2027		$   25,000		$   25,087
5.25%, 04/01/2020		135,000		135,455
Series A, NATL,
Zero Coupon, 04/01/2026 - 04/01/2027		175,000		148,546
Series B1,
4.00%, 04/01/2035		20,000		20,564
State of Illinois, General Obligation Unlimited
Zero Coupon (D), 06/01/2033		680,000		692,308
4.13%, 03/01/2028		30,000		31,140
6.63%, 02/01/2035		25,000		30,717
6.75%, 03/01/2029		115,000		142,790
7.10%, 07/01/2035		155,000		199,401
7.35%, 07/01/2035		20,000		25,275
Series A,
5.00%, 05/01/2041		535,000		624,703
Village of North Riverside, Revenue Bonds,
AGM,
3.63%, 12/01/2030		565,000		586,690
Village of Oak Lawn, General Obligation Unlimited,
Series A,
3.35%, 12/01/2026		315,000		322,724
Village of Rosemont, General Obligation Unlimited,
Series A, AGC,
6.00%, 12/01/2035		15,000		18,753
Western Illinois Economic Development Authority, Revenue Bonds,
4.00%, 06/01/2036		1,480,000		1,529,965
Western Illinois University, Certificate of Participation
6.00%, 10/01/2025		15,000		15,006
6.38%, 10/01/2029		30,000		30,005
Western Illinois University, Revenue Bonds,
3.70%, 04/01/2026		10,000		9,768
Will County Community High School District No. 210, General Obligation Unlimited
Series A,
3.25%, 01/01/2030		45,000		45,360
3.38%, 01/01/2033		25,000		25,183
5.00%, 01/01/2027		55,000		59,328
				15,907,337
Indiana - 1.8%
East Chicago Sanitary District, Revenue Bonds,
4.00%, 07/15/2031		1,320,000		1,435,843
Hamilton County Redevelopment Commission, Tax Allocation,
5.00%, 02/01/2025		70,000		70,139
Indiana Finance Authority, Revenue Bonds
5.00%, 10/01/2044		420,000		453,629
6.00%, 12/01/2026		10,000		10,102
Series A,
4.00%, 11/15/2026		15,000		16,094
				1,985,807

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Iowa - 0.7%
City of Cedar Rapids, General Obligation Unlimited,
Series A,
5.00%, 06/01/2020		$   285,000		$   288,828
Iowa Tobacco Settlement Authority, Revenue Bonds
Series A,
6.50%, 06/01/2023		90,000		91,351
Series C,
5.38%, 06/01/2038		145,000		146,569
5.50%, 06/01/2042		100,000		101,083
5.63%, 06/01/2046		215,000		217,328
				845,159
Kansas - 0.1%
Kansas Rural Water Finance Authority, Revenue Bonds,
4.25%, 03/01/2038		25,000		25,545
Wyandotte County Unified Government Special Obligation Revenue, Revenue Bonds,
NATL,
Zero Coupon, 12/01/2027		175,000		135,349
				160,894
Kentucky - 0.3%
County of Ohio, Revenue Bonds,
Series A,
6.00%, 07/15/2031		290,000		293,956
Edmonson County Industrial Building Revenue, Revenue Bonds,
5.00%, 03/01/2027		20,000		20,035
Kentucky Area Development Districts, Certificate of Participation,
Series M,
5.35%, 12/01/2028		25,000		25,048
Kentucky Economic Development Finance Authority, Revenue Bonds
5.00%, 02/01/2030 - 02/01/2040		50,000		50,000
				389,039
Louisiana - 0.4%
Parish of St. Charles, Revenue Bonds,
Fixed until 06/01/2022, 4.00% (E), 12/01/2040		30,000		31,693
St. Tammany Parish Hospital Service District No. 1, Revenue Bonds,
Series A,
4.00%, 07/01/2043		330,000		364,594
				396,287
Maine - 0.7%
Maine State Housing Authority, Revenue Bonds,
Series A,
3.00%, 11/15/2044		750,000		764,572

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Massachusetts - 0.9%
Massachusetts Development Finance Agency, Revenue Bonds,
5.00%, 10/01/2049		$   500,000		$   566,495
Massachusetts Housing Finance Agency, Revenue Bonds,
Series A,
4.10%, 12/01/2055		375,000		396,382
				962,877
Michigan - 1.4%
County of Wayne, Revenue Bonds,
9.25%, 12/01/2025		240,000		254,450
Dearborn Brownfield Redevelopment Authority, General Obligation Limited,
Series A, AGC,
5.50%, 05/01/2039		25,000		25,082
Detroit Local Development Finance Authority, Tax Allocation,
Series A, ACA-CBI,
5.50%, 05/01/2021		50,000		50,148
Michigan Tobacco Settlement Finance Authority, Revenue Bonds
Series A,
5.13%, 06/01/2022		555,000		555,810
5.25%, 06/01/2022		15,000		15,021
6.00%, 06/01/2034 - 06/01/2048		690,000		696,680
				1,597,191
Minnesota - 6.8%
City of Deephaven, Revenue Bonds,
Series A,
5.25%, 07/01/2037		80,000		87,833
City of Ham Lake, Revenue Bonds,
Series A,
4.00%, 07/01/2028		375,000		391,144
City of International Falls, Revenue Bonds,
5.65%, 12/01/2022		65,000		65,814
City of Minneapolis, Revenue Bonds,
Series A,
5.00%, 07/01/2047		200,000		214,816
City of Morris, Revenue Bonds,
2.55%, 08/01/2020		115,000		115,081
City of St. Paul Park, Revenue Bonds
3.25%, 09/01/2026		485,000		506,830
3.50%, 09/01/2027		500,000		527,020
3.70%, 09/01/2028		500,000		528,890
3.80%, 09/01/2029		340,000		360,199
4.00%, 09/01/2032		400,000		424,180
4.10%, 09/01/2033		200,000		212,148
4.13%, 09/01/2034 - 09/01/2035		730,000		772,312
Housing & Redevelopment Authority of the City of St. Paul, Revenue Bonds
Series A,
4.00%, 09/01/2031		200,000		214,686
4.50%, 07/01/2028		650,000		674,895
5.00%, 07/01/2036 - 12/01/2050		1,765,000		1,864,348
Series B,
5.25%, 04/01/2043		400,000		413,116
Township of Baytown, Revenue Bonds
Series A,
4.00%, 08/01/2041		200,000		206,820
4.25%, 08/01/2046		120,000		125,328
				7,705,460

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Mississippi - 0.3%
Harrison County School District, General Obligation Unlimited,
4.00%, 06/01/2020		$   295,000		$   297,900
Mississippi Development Bank, Revenue Bonds,
Series A,
3.25%, 06/01/2021		55,000		54,984
Mississippi Home Corp., Revenue Bonds,
Series 3A, GNMA,
5.55%, 08/20/2049		5,000		5,204
				358,088
Missouri - 0.3%
Health & Educational Facilities Authority, Revenue Bonds,
4.25%, 12/01/2042 (B) (F)		75,000		79,649
Missouri State Health & Educational Facilities Authority, Revenue Bonds,
Series A,
5.00%, 02/01/2042		250,000		282,943
				362,592
Montana - 0.2%
City of Forsyth, Revenue Bonds,
Series A,
Fixed until 03/01/2031, 3.90% (E)		135,000		143,822
Lewistown Special Improvement District No. 2005, Special Assessment,
4.60%, 07/01/2022		25,000		25,030
				168,852
Nevada - 0.2%
City of Reno, Special Assessment,
7.25%, 12/01/2025		40,000		40,055
County of Clark, Special Assessment,
4.00%, 08/01/2022		170,000		177,283
				217,338
New Jersey - 3.1%
City of Atlantic City, General Obligation Unlimited,
Series A, BAM,
5.00%, 03/01/2032		150,000		181,147
Essex County Improvement Authority, Revenue Bonds
Series A,
5.00%, 12/01/2035 (G)		500,000		450,000
5.13%, 12/01/2045 (G)		30,000		27,000
New Jersey Economic Development Authority, Revenue Bonds
5.75%, 09/15/2027		400,000		440,664
Series A,
5.13%, 09/01/2052 (B)		760,000		838,873
Series B,
6.50%, 04/01/2031 (F)		10,000		11,461
New Jersey Health Care Facilities Financing Authority, Revenue Bonds,
5.00%, 07/01/2030		40,000		47,248
Tobacco Settlement Financing Corp., Revenue Bonds,
Series B,
5.00%, 06/01/2046		1,320,000		1,511,057
				3,507,450

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New York - 4.8%
Buffalo & Erie County Industrial Land Development Corp., Revenue Bonds,
Series A,
5.00%, 08/01/2052		$   500,000		$   551,475
New York City Industrial Development Agency, Revenue Bonds
FGIC,
CPI + 0.89%, 2.94% (E), 03/01/2027		20,000		20,469
NATL,
4.75%, 03/01/2046		135,000		136,431
New York Counties Tobacco Trust I, Revenue Bonds,
Series B,
6.50%, 06/01/2035		15,000		15,012
New York Counties Tobacco Trust IV, Revenue Bonds
Series A,
5.00%, 06/01/2038 - 06/01/2045		290,000		290,036
New York Counties Tobacco Trust VI, Revenue Bonds
Series A,
5.00%, 06/01/2045		850,000		917,736
Series C,
3.75%, 06/01/2045		1,820,000		1,781,980
New York State Dormitory Authority, Revenue Bonds,
AMBAC,
5.25%, 07/01/2025		100,000		119,273
New York Transportation Development Corp., Revenue Bonds,
Series A,
5.25%, 01/01/2050		860,000		982,309
Port Authority of New York & New Jersey, Revenue Bonds,
AGM-CR,
6.50%, 12/01/2028		50,000		50,712
Village of Brewster, General Obligation Unlimited,
5.00%, 05/01/2033		50,000		67,930
Yonkers Economic Development Corp., Revenue Bonds,
5.00%, 10/15/2054		465,000		520,698
				5,454,061
North Dakota - 0.2%
County of Burleigh, Revenue Bonds,
5.00%, 05/01/2037		250,000		263,540
Ohio - 6.2%
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds
Series A-2,
5.13%, 06/01/2024		1,275,000		1,281,273
5.38%, 06/01/2024		75,000		75,286
5.88%, 06/01/2030 - 06/01/2047		865,000		868,803
6.00%, 06/01/2042		100,000		100,576
Cardinal Local School District, Certificate of Participation,
5.25%, 04/01/2038		1,455,000		1,514,844
City of Cleveland, Revenue Bonds,
5.38%, 09/15/2027 (F)		20,000		20,061
Cleveland-Cuyahoga County Port Authority, Revenue Bonds,
Series A,
7.05%, 11/15/2040 (B) (F)		95,000		95,118

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Ohio (continued)
County of Franklin Sales Tax Revenue, Revenue Bonds,
5.00%, 06/01/2020		$   200,000		$   202,692
County of Hamilton, Revenue Bonds,
5.00%, 01/01/2036		100,000		113,592
County of Montgomery, Revenue Bonds
6.00%, 04/01/2038 (B)		2,000,000		2,249,320
Series A,
5.75%, 11/15/2021		500,000		517,015
				7,038,580
Oregon - 0.8%
Oregon State Facilities Authority, Revenue Bonds,
Series B,
6.75%, 06/15/2022 (B)		160,000		163,763
Warm Springs Reservation Confederated Tribe, Revenue Bonds,
Series B,
5.00%, 11/01/2039 (B)		600,000		713,694
				877,457
Pennsylvania - 1.5%
Blythe Township Solid Waste Authority, Revenue Bonds,
7.75%, 12/01/2037		565,000		685,351
Cumberland County Municipal Authority, Revenue Bonds,
5.00%, 01/01/2039		150,000		177,502
Dallas Area Municipal Authority, Revenue Bonds,
5.00%, 05/01/2048		115,000		131,125
Montgomery County Industrial Development Authority, Revenue Bonds,
Series A,
4.25%, 01/15/2029		60,000		65,068
Pennsylvania Turnpike Commission, Revenue Bonds,
5.00%, 12/01/2040		500,000		608,945
Susquehanna Area Regional Airport Authority, Revenue Bonds,
Series B,
9.88%, 01/01/2034		10,000		13,886
				1,681,877
Puerto Rico - 9.8%
Children’s Trust Fund, Revenue Bonds
5.38%, 05/15/2033		25,000		25,397
5.50%, 05/15/2039		55,000		56,019
5.63%, 05/15/2043		45,000		45,833
Commonwealth of Puerto Rico, General Obligation Unlimited
AGC-ICC,
5.50%, 07/01/2022		100,000		106,612
AGM,
5.13%, 07/01/2030		265,000		272,653
5.25%, 07/01/2020		100,000		101,314
AGM-CR,
4.50%, 07/01/2023		45,000		45,135
5.00%, 07/01/2028		30,000		30,788
Series A, AGC-ICC,
5.00%, 07/01/2022 - 07/01/2033		605,000		620,683
5.25%, 07/01/2030		55,000		57,008
5.50%, 07/01/2029		245,000		278,746

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Puerto Rico (continued)
Commonwealth of Puerto Rico, General Obligation Unlimited (continued)
Series A, AGM,
4.00%, 07/01/2022		$   140,000		$   144,389
4.13%, 07/01/2023 - 07/01/2024		50,000		51,162
5.00%, 07/01/2035		265,000		283,208
5.38%, 07/01/2025		170,000		177,055
Series A-4, AGM,
5.00%, 07/01/2031		170,000		171,921
Series B, AGC-ICC,
5.00%, 07/01/2035		400,000		408,580
Series C, AGM,
5.25%, 07/01/2027		100,000		103,208
5.38%, 07/01/2028		30,000		31,163
5.50%, 07/01/2032		145,000		150,796
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds
Series A, AGC,
5.00%, 07/01/2028		195,000		200,121
5.13%, 07/01/2047		390,000		401,462
Puerto Rico Convention Center District Authority, Revenue Bonds
Series A, AGC,
4.50%, 07/01/2036		765,000		767,127
5.00%, 07/01/2027		210,000		215,538
Puerto Rico Electric Power Authority, Revenue Bonds
Series DDD, AGM,
3.63%, 07/01/2023		320,000		320,038
3.65%, 07/01/2024		205,000		205,037
Series RR, AGC,
5.00%, 07/01/2028		215,000		220,646
Series SS, AGM,
5.00%, 07/01/2030		85,000		87,065
Series TT, AGC-ICC,
5.00%, 07/01/2032		265,000		271,220
Series TT, AGM-CR,
5.00%, 07/01/2027		25,000		25,659
Series UU, AGC,
4.25%, 07/01/2027		365,000		365,752
5.00%, 07/01/2026		165,000		169,371
Series UU, AGM,
5.00%, 07/01/2020 - 07/01/2024		500,000		510,590
Series V, AGM,
5.25%, 07/01/2027		70,000		78,267
Puerto Rico Highway & Transportation Authority, Revenue Bonds
AGC-ICC,
5.00%, 07/01/2028		55,000		56,444
Series AA, AGC-ICC,
5.00%, 07/01/2035		85,000		86,823
Series CC, AGM,
5.25%, 07/01/2033 - 07/01/2036		290,000		333,368
Series CC, AGM-CR,
5.50%, 07/01/2029		75,000		85,852
Series D, AGM,
5.00%, 07/01/2027 - 07/01/2032		580,000		594,439
Series E, AGM,
5.50%, 07/01/2020 - 07/01/2023		175,000		187,631
Series I, AGC-ICC, FGIC,
5.00%, 07/01/2026		305,000		313,079
Series K, AGC-ICC,
4.40%, 07/01/2025		30,000		30,084
5.00%, 07/01/2030		30,000		30,729
Series L, AGC,
4.00%, 07/01/2020		170,000		171,374
Series M, AGC-ICC,
5.00%, 07/01/2032		160,000		164,261
Series N, AGC,
5.25%, 07/01/2036		115,000		132,321
Series N, AGM-CR, AGC-ICC,
5.50%, 07/01/2026		165,000		185,122

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Puerto Rico (continued)
Puerto Rico Municipal Finance Agency, Revenue Bonds
Series A, AGM,
4.75%, 08/01/2022		$   140,000		$   143,161
5.00%, 08/01/2021 - 08/01/2030		990,000		1,013,332
Series A, AGM-CR,
4.75%, 08/01/2025		60,000		61,496
Puerto Rico Public Buildings Authority, Revenue Bonds
Series I, AGC-ICC,
5.00%, 07/01/2036		240,000		244,951
Series K, AGM,
5.25%, 07/01/2027		190,000		193,984
Series L, AGM-CR,
5.50%, 07/01/2021		65,000		66,827
				11,094,841
Rhode Island - 0.5%
Providence Redevelopment Agency, Revenue Bonds,
Series A,
5.00%, 04/01/2020		250,000		251,365
Tobacco Settlement Financing Corp., Revenue Bonds,
Series A,
5.00%, 06/01/2035		300,000		340,206
				591,571
South Carolina - 0.3%
County of Lancaster, Special Assessment,
Series A,
3.13%, 12/01/2022		350,000		356,692
South Carolina Jobs-Economic Development Authority, Revenue Bonds,
Series A, NATL,
4.38%, 08/01/2037		15,000		15,012
				371,704
Tennessee - 0.1%
Tennessee Housing Development Agency, Revenue Bonds,
3.05%, 07/01/2027		95,000		103,448
Texas - 4.6%
Bexar County Health Facilities Development Corp., Revenue Bonds,
5.00%, 07/15/2042		600,000		679,038
Cameron Education Corp., Revenue Bonds,
Series A, ACA,
5.25%, 08/15/2036		40,000		40,056
City of Dallas, Revenue Bonds,
AGC,
5.25%, 08/15/2034		35,000		35,108
City of Houston Airport System Revenue, Revenue Bonds,
5.00%, 07/01/2029		150,000		168,681
Harris County-Houston Sports Authority, Revenue Bonds
NATL,
Zero Coupon, 11/15/2023		30,000		28,362

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Texas (continued)
New Hope Cultural Education Facilities Finance Corp., Revenue Bonds
5.00%, 07/01/2046 - 01/01/2055		$   1,950,000		$   2,057,666
Series A,
3.38%, 08/15/2021 (B)		495,000		500,569
Series A1,
5.00%, 07/01/2046		55,000		60,094
Series D,
6.00%, 07/01/2026		105,000		107,690
Newark Higher Education Finance Corp., Revenue Bonds,
5.00%, 06/15/2048		50,000		51,651
Port Beaumont Navigation Disctrict Dock and Wharf Facility Revenue
4.00%, 01/01/2050 (B) (H)		1,000,000		1,027,240
Pottsboro Higher Education Finance Corp., Revenue Bonds,
Series A,
5.00%, 08/15/2036		435,000		473,589
Texas State Student Housing Corp., Revenue Bonds,
6.75%, 07/01/2021		5,000		5,002
				5,234,746
U. S. Virgin Islands - 0.0% (C)
Virgin Islands Public Finance Authority, Revenue Bonds,
NATL,
4.00%, 10/01/2020		5,000		5,041
Utah - 0.4%
Utah Charter School Finance Authority, Revenue Bonds,
5.00%, 04/15/2030 (B)		420,000		421,407
Virginia - 0.7%
Buena Vista Public Recreational Facilities Authority, Revenue Bonds,
Series A, ACA,
5.50%, 07/15/2035 (G)		50,000		48,857
Buena Vista Public Service Authority, Revenue Bonds
Series A,
5.13%, 01/01/2023		20,000		20,021
6.00%, 01/01/2027		50,000		50,055
Henrico County Economic Development Authority, Revenue Bonds,
Series C,
5.00%, 12/01/2047		375,000		420,555
Tobacco Settlement Financing Corp., Revenue Bonds,
Series B1,
5.00%, 06/01/2047		190,000		191,765
Virginia College Building Authority, Revenue Bonds,
4.25%, 04/01/2020		20,000		20,013
				751,266
Washington - 0.1%
King County Housing Authority, Revenue Bonds,
2.15%, 05/01/2020		65,000		65,173
West Virginia - 0.1%
Tobacco Settlement Finance Authority, Revenue Bonds,
Series A,
7.47%, 06/01/2047		100,000		107,541

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Wisconsin - 4.5%
Public Finance Authority, Revenue Bonds
5.00%, 04/01/2022 (F)		$   25,000		$   25,824
5.00%, 06/15/2053		200,000		232,108
Series A,
5.00%, 06/15/2049 (B)		90,000		94,828
Series A, AGM,
5.00%, 07/01/2054 - 07/01/2058		2,145,000		2,498,559
Wisconsin Health & Educational Facilities Authority, Revenue Bonds
5.00%, 08/01/2039		500,000		541,350
Class B,
4.38%, 07/01/2038		850,000		898,543
Class C,
7.00%, 07/01/2043		750,000		750,173
				5,041,385
Total Municipal Government Obligations (Cost $97,692,164)				103,981,364
	Shares		Value
PREFERRED STOCK - 0.4%
Insurance - 0.4%
Enstar Group, Ltd.,
Series D, Fixed until 09/01/2028, 7.00% (E)		16,000		463,680
Total Preferred Stock (Cost $400,000)				463,680
EXCHANGE-TRADED FUND - 0.3%
U.S. Fixed Income Fund - 0.3%
VanEck Vectors High-Yield Municipal Index ETF		5,000		326,500
Total Exchange-Traded Fund (Cost $320,741)				326,500

	Shares		Value
INVESTMENT COMPANIES - 0.7%
U.S. Fixed Income Funds - 0.7%
MFS Multimarket Income Trust (A)		114,783		$   707,063
Putnam Managed Municipal Income Trust		5,000		40,750
Total Investment Companies (Cost $640,464)				747,813
OTHER INVESTMENT COMPANY - 0.1%
Securities Lending Collateral - 0.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (I)		138,300		138,300
Total Other Investment Company (Cost $138,300)				138,300
	Principal		Value
REPURCHASE AGREEMENT - 5.9%
Fixed Income Clearing Corp., 0.85% (I), dated 01/31/2020, to be repurchased at $6,617,766 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $6,750,027.		$  6,617,297		6,617,297
Total Repurchase Agreement (Cost $6,617,297)				6,617,297
Total Investments (Cost $106,600,148)				113,105,379
Net Other Assets (Liabilities) - (0.1)%				(93,762	)
Net Assets - 100.0%				$  113,011,617

SECURITY VALUATION:

Valuation Inputs ^(J)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	830,425	$	—	$	830,425
Municipal Government Obligations		—		103,981,364		—		103,981,364
Preferred Stock		463,680		—		—		463,680
Exchange-Traded Fund		326,500		—		—		326,500
Investment Companies		747,813		—		—		747,813
Other Investment Company		138,300		—		—		138,300
Repurchase Agreement		—		6,617,297		—		6,617,297
Total Investments	$	1,676,293	$	111,429,086	$	—	$	113,105,379

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

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 $134,454. 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)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $12,324,071, representing 10.9% of the Fund’s net assets.
(C)	Percentage rounds to less than 0.1% or (0.1)%.
(D)	Step bonds. Coupon rates change in increments to maturity. The rates disclosed are as of January 31, 2020; the maturity dates disclosed are the ultimate maturity dates.
(E)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(F)	Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Municipal Government Obligations	Health & Educational Facilities Authority Revenue Bonds 4.25%, 12/01/2042		09/10/2019	$	78,020	$	79,649		0.1	%
Municipal Government Obligations	New Jersey Economic Development Authority Revenue Bonds Series B 6.50%, 04/01/2031		01/22/2015		10,535		11,461		0.0	(C)
Municipal Government Obligations	City of Cleveland Revenue Bonds 5.38%, 09/15/2027		07/27/2015		20,062		20,061		0.0	(C)
Municipal Government Obligations	Cleveland-Cuyahoga County Port Authority Revenue Bonds Series A 7.05%, 11/15/2040		04/11/2014		92,766		95,118		0.1
Municipal Government Obligations	Public Finance Authority Revenue Bonds 5.00%, 04/01/2022		05/01/2017		25,171		25,824		0.0	(C)
Total				$	226,554	$	232,113		0.2	%

(G)	Securities in default; partial receipt of interest payments and/or dividends declared at last payment date. At January 31, 2020, the total value of such securities is $525,857, representing 0.5% of the Fund’s net assets.
(H)	When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2020. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(I)	Rates disclosed reflect the yields at January 31, 2020.
(J)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica High Yield Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

MUNICIPAL INSURER ABBREVIATIONS:

ACA	ACA Financial Guaranty Corp.
AGC	Assured Guaranty Corp.
AGM	Assured Guaranty Municipal Corp.
AMBAC	AMBAC Financial Group, Inc.
BAM	Build America Mutual Assurance Co.
FGIC	Financial Guaranty Insurance Co.
GNMA	Government National Mortgage Association
NATL	National Public Finance Guarantee Corp.

PORTFOLIO ABBREVIATIONS:

CBI	Certificates of Bond Insurance
CPI	Consumer Price Index
CR	Custodial Receipts
IBC	Insured Bond Certificate
ICC	Insured Custody Certificate
RE	Reinsured

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Inflation Opportunities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITY - 0.3%
STORE Master Funding I-VII
Series 2018-1A, Class A1,
3.96%, 10/20/2048 (A)		$  389,669		$  411,048
Total Asset-Backed Security (Cost $389,568)				411,048
CORPORATE DEBT SECURITIES - 22.4%
Aerospace & Defense - 0.2%
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		195,000		203,295
Banks - 11.4%
BAC Capital Trust XIV
3-Month LIBOR + 0.40%, 4.00% (B), 02/18/2020 (C)		726,000		678,810
Bank of America Corp.
CPI-YoY + 1.10%, 2.86% (B), 11/19/2024, MTN		1,000,000		1,003,750
CPI-YoY + 2.10%, 3.86% (B), 02/18/2020, MTN		400,000		399,236
4.18%, 11/25/2027, MTN		1,028,000		1,139,575
Fixed until 04/24/2037, 4.24% (B), 04/24/2038		782,000		927,534
Barclays Bank PLC
CPI-YoY + 1.00%, 2.76% (B), 05/22/2023, MTN		2,600,000		2,611,700
BBVA Bancomer SA
Fixed until 01/17/2028, 5.13% (B), 01/18/2033 (A)		321,000		341,865
Citigroup, Inc.
4.65%, 07/23/2048		1,380,000		1,797,584
Corestates Capital II
3-Month LIBOR + 0.65%, 2.48% (B), 01/15/2027 (A)		269,000		256,572
Credit Agricole SA
Fixed until 01/10/2028, 4.00% (B), 01/10/2033 (A)		701,000		754,814
Danske Bank A/S
Fixed until 12/20/2024, 3.24% (B), 12/20/2025 (A)		200,000		206,990
Royal Bank of Scotland Group PLC
Fixed until 03/08/2022, 2.00% (B), 03/08/2023, MTN (D)		EUR  800,000		919,663
Fixed until 11/01/2024, 3.75% (B), 11/01/2029		$  381,000		395,799
Fixed until 03/22/2024, 4.27% (B), 03/22/2025		258,000		277,163
Fixed until 06/25/2023, 4.52% (B), 06/25/2024		736,000		790,038
UniCredit SpA
Fixed until 06/19/2027, 5.86% (B), 06/19/2032 (A) (E)		201,000		215,285
6.57%, 01/14/2022 (A)		350,000		376,605

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
UniCredit SpA (continued)
Fixed until 04/02/2029, 7.30% (B), 04/02/2034 (A)		$   211,000		$   249,306
Zions Bancorp NA
3.25%, 10/29/2029		288,000		291,566
				13,633,855
Biotechnology - 0.1%
AbbVie, Inc.
4.05%, 11/21/2039 (A)		84,000		91,399
Building Products - 0.6%
Masco Corp.
3.50%, 11/15/2027		744,000		789,590
Capital Markets - 1.1%
Goldman Sachs Group, Inc.
Fixed until 11/10/2022 (C), 5.00% (B) (E)		702,000		713,597
Morgan Stanley
CPI-YoY + 2.00%, 3.76% (B), 04/25/2023 - 06/09/2023		643,000		659,376
				1,372,973
Chemicals - 0.4%
Dow Chemical Co.
4.80%, 05/15/2049		410,000		480,870
Electric Utilities - 0.1%
FirstEnergy Corp.
3.90%, 07/15/2027		121,000		132,424
Health Care Providers & Services - 0.5%
CVS Health Corp.
4.78%, 03/25/2038		535,000		624,030
Insurance - 1.4%
Genworth Holdings, Inc.
3-Month LIBOR + 2.00%, 3.91% (B), 11/15/2066		1,350,000		857,250
Hartford Financial Services Group, Inc.
3-Month LIBOR + 2.13%, 4.03% (B), 02/12/2067 (A)		898,000		864,325
				1,721,575
Machinery - 0.2%
CNH Industrial NV
3.85%, 11/15/2027, MTN		180,000		190,617
Metals & Mining - 0.9%
Glencore Funding LLC
4.00%, 04/16/2025 (A)		226,000		236,782
Newcrest Finance Pty, Ltd.
5.75%, 11/15/2041 (A)		446,000		568,420
Steel Dynamics, Inc.
3.45%, 04/15/2030		65,000		67,004
Teck Resources, Ltd.
6.13%, 10/01/2035		214,000		255,995
				1,128,201
Multi-Utilities - 0.2%
WEC Energy Group, Inc.
3-Month LIBOR + 2.11%, 4.02% (B) 05/15/2067		219,000		203,722

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Inflation Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels - 4.3%
Apache Corp.
4.25%, 01/15/2030		$   630,000		$   662,646
Cenovus Energy, Inc.
4.25%, 04/15/2027		397,000		423,694
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/2029 (A)		99,000		102,634
Enable Midstream Partners, LP
4.95%, 05/15/2028		253,000		260,943
Enbridge, Inc.
Fixed until 07/15/2027, 5.50% (B), 07/15/2077		731,000		758,413
Energy Transfer Operating, LP
5.80%, 06/15/2038		315,000		363,102
Fixed until 02/15/2023 (C), 6.25% (B)		691,000		656,450
EnLink Midstream LLC
5.38%, 06/01/2029		106,000		95,930
EnLink Midstream Partners, LP
4.85%, 07/15/2026		311,000		284,565
Fixed until 12/15/2022 (C), 6.00% (B)		133,000		92,768
Enterprise Products Operating LLC
3.70%, 01/31/2051		142,000		141,593
Fixed until 08/16/2027, 5.25% (B), 08/16/2077		243,000		251,019
MPLX, LP
4.25%, 12/01/2027 (A)		346,000		369,516
Fixed until 02/15/2023 (C), 6.88% (B)		348,000		350,610
Noble Energy, Inc.
3.85%, 01/15/2028		113,000		119,385
Petroleos Mexicanos
7.69%, 01/23/2050 (A)		169,000		185,663
				5,118,931
Transportation Infrastructure - 1.0%
Heathrow Funding, Ltd.
1.37%, 03/28/2032 (D)		GBP  548,658		922,119
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.35%, 11/01/2029 (A)		$  264,000		273,098
				1,195,217
Total Corporate Debt Securities (Cost $25,765,786)				26,886,699
FOREIGN GOVERNMENT OBLIGATIONS - 24.2%
Australia - 2.7%
Australia Government Bond
0.75%, 11/21/2027 (D) (E)		AUD  4,150,000		3,182,572
Canada - 2.7%
Canada Government Real Return Bond
4.25%, 12/01/2021		CAD  4,022,729		3,265,632
Japan - 2.4%
Japan Government CPI Linked Bond
0.10%, 03/10/2028 - 03/10/2029		JPY  308,331,250		2,915,671
Mexico - 2.9%
Mexico Udibonos
Series S,
2.50%, 12/10/2020		MXN  17,646,192		923,470
4.50%, 12/04/2025		45,081,512		2,556,182
				3,479,652

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
New Zealand - 3.0%
New Zealand Government Inflation-Linked Bond
2.00%, 09/20/2025 (D)		NZD  4,500,000		$   3,532,272
Spain - 7.3%
Spain Government Inflation-Linked Bond
0.30%, 11/30/2021		EUR  4,184,960		4,787,910
1.00%, 11/30/2030 (D)		2,976,939		3,976,236
				8,764,146
United Kingdom - 3.2%
U.K. Gilt Inflation-Linked
0.13%, 03/22/2029 - 03/22/2044 (D)		GBP  1,740,827		3,870,652
Total Foreign Government Obligations (Cost $29,324,245)				29,010,597
MORTGAGE-BACKED SECURITIES - 2.3%
BANK
Series 2019-BN19, Class A3,
3.18%, 08/15/2061		$  1,000,000		1,082,379
Benchmark Mortgage Trust
Series 2018-B7, Class A4,
4.51% (B), 05/15/2053		1,000,000		1,183,151
CSAIL Commercial Mortgage Trust
Series 2019-C17, Class A2,
3.00%, 09/15/2052		500,000		522,322
Total Mortgage-Backed Securities (Cost $2,574,899)				2,787,852
U.S. GOVERNMENT OBLIGATIONS - 50.2%
U.S. Treasury Inflation-Protected Securities - 50.2%
U.S. Treasury Inflation-Indexed Bond
0.25%, 07/15/2029		2,815,540		2,925,248
0.75%, 02/15/2045		2,512,244		2,791,053
1.00%, 02/15/2046		2,062,526		2,431,123
1.38%, 02/15/2044		2,428,008		3,045,903
2.13%, 02/15/2040		1,190,030		1,639,775
2.38%, 01/15/2025		2,865,555		3,230,988
3.38%, 04/15/2032		1,738,896		2,460,539
3.88%, 04/15/2029		2,034,006		2,775,601
U.S. Treasury Inflation-Indexed Note
0.13%, 04/15/2020 - 07/15/2026		15,549,707		15,702,655
0.25%, 01/15/2025		1,737,520		1,776,762
0.38%, 07/15/2023 - 07/15/2027		7,136,944		7,379,734
0.50%, 01/15/2028		2,606,900		2,738,887
0.63%, 04/15/2023 - 01/15/2026		8,380,827		8,686,250
1.13%, 01/15/2021		1,928,328		1,942,569
1.25%, 07/15/2020		636,881		641,307
Total U.S. Government Obligations (Cost $56,719,095)				60,168,394
	Shares		Value
PREFERRED STOCK - 0.1%
Banks - 0.1%
Banco Santander SA,
Series 6, 3-Month LIBOR + 0.52%, 4.00% (B)		3,100		74,958
Total Preferred Stock (Cost $74,547)				74,958

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Inflation Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
SHORT-TERM INVESTMENT COMPANY - 0.1%
Money Market Fund - 0.1%
State Street Institutional U.S. Government Money Market Fund,
1.52% (F)		61,937		$   61,937
Total Short-Term Investment Company (Cost $61,937)				61,937
OTHER INVESTMENT COMPANY - 3.0%
Securities Lending Collateral - 3.0%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (F)		3,640,545		3,640,545
Total Other Investment Company (Cost $3,640,545)				3,640,545
Total Investments (Cost $118,550,622)				123,042,030
Net Other Assets (Liabilities) - (2.6)%				(3,140,529	)
Net Assets - 100.0%				$  119,901,501

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
JPM		04/23/2020	USD	1,900,075	AUD	2,750,000	$	56,292	$	—
JPM		04/23/2020	USD	10,981,175	EUR	9,800,000		56,917		—
JPM		04/23/2020	USD	4,507,998	GBP	3,465,000		—		(77,726	)
JPM		04/23/2020	USD	2,912,494	JPY	318,495,877		—		(40,485	)
JPM		04/23/2020	USD	3,402,622	MXN	65,000,000		4,480		—
JPM		04/23/2020	USD	2,205,599	NZD	3,325,000		53,978		—
JPM		04/23/2020	EUR	1,154,500	USD	1,292,257		—		(5,313	)
JPM		04/23/2020	JPY	5,000,000	USD	45,609		750		—
Total							$	172,417	$	(123,524	)

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Inflation Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(G)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Security	$	—	$	411,048		$	—	$	411,048
Corporate Debt Securities		—		26,886,699			—		26,886,699
Foreign Government Obligations		—		29,010,597			—		29,010,597
Mortgage-Backed Securities		—		2,787,852			—		2,787,852
U.S. Government Obligations		—		60,168,394			—		60,168,394
Preferred Stock		74,958		—			—		74,958
Short-Term Investment Company		61,937		—			—		61,937
Other Investment Company		3,640,545		—			—		3,640,545
Total Investments	$	3,777,440	$	119,264,590		$	—	$	123,042,030
Other Financial Instruments
Forward Foreign Currency Contracts (H)	$	—	$	172,417		$	—	$	172,417
Total Other Financial Instruments	$	—	$	172,417		$	—	$	172,417
LIABILITIES
Other Financial Instruments
Forward Foreign Currency Contracts (H)	$	—	$	(123,524	)	$	—	$	(123,524	)
Total Other Financial Instruments	$	—	$	(123,524	)	$	—	$	(123,524	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $5,504,322, representing 4.6% of the Fund’s net assets.
(B)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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)	Perpetual maturity. The date displayed is the next call date.
(D)	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, 2020, the total value of Regulation S securities is $16,403,514, representing 13.7% 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 $3,568,542. 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)	Rates disclosed reflect the yields at January 31, 2020.
(G)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(H)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Inflation Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
MXN	Mexican Peso
NZD	New Zealand Dollar
USD	United States Dollar

COUNTERPARTY ABBREVIATION:

JPM JPMorgan Chase Bank, N.A.

PORTFOLIO ABBREVIATIONS:

CPI	Consumer Price Index
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Inflation-Protected Securities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES - 7.0%
Aerospace & Defense - 0.1%
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		$  92,000		$  95,914
Banks - 3.3%
BAC Capital Trust XIV
3-Month LIBOR + 0.40%, 4.00% (A), 02/18/2020 (B)		394,000		368,390
Bank of America Corp.
4.18%, 11/25/2027, MTN (C)		508,000		563,136
Fixed until 04/24/2037, 4.24% (A), 04/24/2038		425,000		504,094
Citigroup, Inc.
4.65%, 07/23/2048		747,000		973,040
Credit Agricole SA
3.75%, 04/24/2023 (D)		326,000		343,863
Fixed until 01/10/2028, 4.00% (A), 01/10/2033 (D)		449,000		483,469
Royal Bank of Scotland Group PLC
Fixed until 11/01/2024, 3.75% (A), 11/01/2029 (C)		200,000		207,769
Fixed until 06/25/2023, 4.52% (A), 06/25/2024		390,000		418,634
				3,862,395
Biotechnology - 0.0% (E)
AbbVie, Inc.
4.05%, 11/21/2039 (D)		40,000		43,523
Electric Utilities - 0.1%
FirstEnergy Corp.
3.90%, 07/15/2027		130,000		142,273
Health Care Providers & Services - 0.3%
CVS Health Corp.
4.78%, 03/25/2038		301,000		351,090
Insurance - 0.4%
Hartford Financial Services Group, Inc.
3-Month LIBOR + 2.13%, 4.03% (A), 02/12/2067 (D)		487,000		468,738
Machinery - 0.1%
CNH Industrial NV
3.85%, 11/15/2027, MTN (C)		97,000		102,722
Media - 0.1%
Comcast Corp.
4.60%, 10/15/2038		86,000		106,091
Metals & Mining - 0.4%
Newcrest Finance Pty, Ltd.
4.20%, 10/01/2022 (D)		452,000		474,444
Steel Dynamics, Inc.
3.45%, 04/15/2030		31,000		31,956
				506,400
Multi-Utilities - 0.1%
WEC Energy Group, Inc.
3-Month LIBOR + 2.11%, 4.02% (A), 05/15/2067		119,000		110,698

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels - 2.0%
Apache Corp.
4.25%, 01/15/2030 (C)		$   280,000		$   294,509
Cenovus Energy, Inc.
4.25%, 04/15/2027 (C)		166,000		177,162
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/2029 (D)		45,000		46,652
Enable Midstream Partners, LP
4.95%, 05/15/2028		169,000		174,306
Enbridge, Inc.
Fixed until 07/15/2027, 5.50% (A), 07/15/2077		397,000		411,887
Energy Transfer Operating, LP
5.80%, 06/15/2038		171,000		197,113
Fixed until 02/15/2023 (B), 6.25% (A)		375,000		356,250
EnLink Midstream LLC
5.38%, 06/01/2029		44,000		39,820
Enterprise Products Operating LLC
3.70%, 01/31/2051		68,000		67,805
Fixed until 08/16/2027, 5.25% (A), 08/16/2077 (C)		132,000		136,356
MPLX, LP
4.25%, 12/01/2027 (D)		187,000		199,710
Fixed until 02/15/2023 (B), 6.88% (A)		189,000		190,417
Noble Energy, Inc.
3.85%, 01/15/2028		62,000		65,503
Petroleos Mexicanos
7.69%, 01/23/2050 (D)		76,000		83,494
				2,440,984
Transportation Infrastructure - 0.1%
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.35%, 11/01/2029 (D)		118,000		122,066
Total Corporate Debt Securities (Cost $7,636,798)				8,352,894
FOREIGN GOVERNMENT OBLIGATIONS - 10.0%
Australia - 1.9%
Australia Government Bond
0.75%, 11/21/2027 (F)		AUD  3,000,000		2,300,654
Canada - 2.5%
Canada Government Real Return Bond
4.25%, 12/01/2021		CAD  3,571,198		2,899,082
Japan - 1.9%
Japan Government CPI Linked Bond
0.10%, 03/10/2028 - 03/10/2029		JPY  242,790,000		2,295,782
New Zealand - 1.7%
New Zealand Government Inflation-Linked Bond
2.00%, 09/20/2025 (F)		NZD  2,500,000		1,962,373
Spain - 1.5%
Spain Government Inflation-Linked Bond
1.00%, 11/30/2030 (D) (F)		EUR 1,305,350		1,743,529
United Kingdom - 0.5%
U.K. Gilt Inflation-Linked
0.13%, 03/22/2044 (F)		GBP  264,066		587,171
Total Foreign Government Obligations (Cost $11,434,001)				11,788,591

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Inflation-Protected Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES - 2.0%
BANK
Series 2019-BN19, Class A3,
3.18%, 08/15/2061		$  1,000,000		$   1,082,378
CSAIL Commercial Mortgage Trust
Series 2019-C17, Class A2,
3.00%, 09/15/2052		750,000		783,484
Jackson Park Trust
Series 2019-LIC, Class A,
2.77%, 10/14/2039 (D)		500,000		516,824
Total Mortgage-Backed Securities (Cost $2,298,522)				2,382,686
U.S. GOVERNMENT OBLIGATIONS - 79.8%
U.S. Treasury Inflation-Protected Securities - 79.8%
U.S. Treasury Inflation-Indexed Bond
0.63%, 02/15/2043		50,344		54,275
0.75%, 02/15/2042 - 02/15/2045		3,562,064		3,946,129
1.00%, 02/15/2046 - 02/15/2048		4,457,125		5,286,243
1.38%, 02/15/2044		2,262,474		2,838,243
1.75%, 01/15/2028		2,535,345		2,913,175
2.00%, 01/15/2026		2,766,811		3,125,157
2.13%, 02/15/2040 - 02/15/2041		2,818,307		3,896,500
2.38%, 01/15/2025 - 01/15/2027		4,598,504		5,294,897
2.50%, 01/15/2029		1,042,149		1,286,393
3.38%, 04/15/2032		523,698		741,032
3.63%, 04/15/2028		755,383		985,606
3.88%, 04/15/2029		2,503,392		3,416,124
U.S. Treasury Inflation-Indexed Note
0.13%, 04/15/2020 - 07/15/2026		25,577,142		25,806,094
0.25%, 01/15/2025		4,560,990		4,664,000
0.38%, 07/15/2023 - 07/15/2027		11,309,022		11,672,083
0.50%, 01/15/2028		1,042,690		1,095,481

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury Inflation-Protected Securities (continued)
U.S. Treasury Inflation-Indexed Note (continued)
0.63%, 04/15/2023 - 01/15/2026		$   10,402,668		$   10,767,296
0.75%, 07/15/2028		1,024,680		1,105,089
1.13%, 01/15/2021		3,703,801		3,731,155
1.25%, 07/15/2020		1,649,869		1,661,335
Total U.S. Government Obligations (Cost $90,102,400)				94,286,307
	Shares		Value
SHORT-TERM INVESTMENT COMPANY - 0.8%
Money Market Fund - 0.8%
State Street Institutional U.S. Government Money Market Fund,
1.52% (G)		917,317		917,317
Total Short-Term Investment Company (Cost $917,317)				917,317
OTHER INVESTMENT COMPANY - 0.7%
Securities Lending Collateral - 0.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (G)		814,608		814,608
Total Other Investment Company (Cost $814,608)				814,608
Total Investments (Cost $113,203,646)				118,542,403
Net Other Assets (Liabilities) - (0.3)%				(412,104	)
Net Assets - 100.0%				$  118,130,299

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
JPMS		04/23/2020	USD	2,335,365	AUD	3,380,000	$	69,187	$	—
JPMS		04/23/2020	USD	2,379,095	CAD	3,110,000		29,144		—
JPMS		04/23/2020	USD	1,748,024	EUR	1,560,000		9,060		—
JPMS		04/23/2020	USD	597,163	GBP	459,000		—		(10,296	)
JPMS		04/23/2020	USD	2,291,301	JPY	250,565,288		—		(31,850	)
JPMS		04/23/2020	USD	2,023,181	NZD	3,050,000		49,514		—
JPMS		04/23/2020	GBP	10,000	USD	13,044		191		—
JPMS		04/23/2020	JPY	3,000,000	USD	27,365		450		—
JPMS		04/23/2020	EUR	20,000	USD	22,298		—		(3	)
Total							$	157,546	$	(42,149	)

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Inflation-Protected Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(H)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	8,352,894		$	—	$	8,352,894
Foreign Government Obligations		—		11,788,591			—		11,788,591
Mortgage-Backed Securities		—		2,382,686			—		2,382,686
U.S. Government Obligations		—		94,286,307			—		94,286,307
Short-Term Investment Company		917,317		—			—		917,317
Other Investment Company		814,608		—			—		814,608
Total Investments	$	1,731,925	$	116,810,478		$	—	$	118,542,403
Other Financial Instruments
Forward Foreign Currency Contracts (I)	$	—	$	157,546		$	—	$	157,546
Total Other Financial Instruments	$	—	$	157,546		$	—	$	157,546
LIABILITIES
Other Financial Instruments
Forward Foreign Currency Contracts (I)	$	—	$	(42,149	)	$	—	$	(42,149	)
Total Other Financial Instruments	$	—	$	(42,149	)	$	—	$	(42,149	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(B)	Perpetual maturity. The date displayed is the next call date.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $797,937. 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. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $4,526,312, representing 3.8% of the Fund’s net assets.
(E)	Percentage rounds to less than 0.1% or (0.1)%.
(F)	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, 2020, the total value of Regulation S securities is $6,593,727, representing 5.6% of the Fund’s net assets.
(G)	Rates disclosed reflect the yields at January 31, 2020.
(H)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(I)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Inflation-Protected Securities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
NZD	New Zealand Dollar
USD	United States Dollar

COUNTERPARTY ABBREVIATION:

JPMS JPMorgan Securities LLC

PORTFOLIO ABBREVIATIONS:

CPI	Consumer Price Index
LIBOR	London Interbank Offered Rate
MTN	Medium Term Note

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 8.1%
321 Henderson Receivables VI LLC
Series 2010-1A, Class A,
5.56%, 07/15/2059 (A) (B)		$  0		$  0
BlueMountain CLO, Ltd.
Series 2015-2A, Class A1R,
3-Month LIBOR + 0.93%, 2.75% (C), 07/18/2027 (A)		7,532,000		7,538,011
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (A)		927,740		928,195
CIFC Funding, Ltd.
Series 2013-2A, Class A1LR,
3-Month LIBOR + 1.21%, 3.04% (C), 10/18/2030 (A)		11,780,000		11,784,088
Hilton Grand Vacations Trust
Series 2017-AA, Class A,
2.66%, 12/26/2028 (A)		825,020		832,975
ICG CLO, Ltd.
Series 2014-1A, Class A1R,
3-Month LIBOR + 1.22%, 3.04% (C), 01/20/2030 (A)		2,750,000		2,750,652
JG Wentworth XXI LLC
Series 2010-2A, Class A,
4.07%, 01/15/2048 (A)		700,396		736,407
JG Wentworth XXII LLC
Series 2010-3A, Class A,
3.82%, 12/15/2048 (A)		1,017,780		1,056,892
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067 (A)		5,910,409		6,187,803
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043 (A)		3,470,549		3,592,240
Longfellow Place CLO, Ltd.
Series 2013-1A, Class ARR,
3-Month LIBOR + 1.34%, 3.17% (C), 04/15/2029 (A)		3,500,000		3,501,998
Mill City Mortgage Loan Trust
Series 2016-1, Class A1,
2.50% (C), 04/25/2057 (A)		837,515		839,724
MVW Owner Trust
Series 2014-1A, Class A,
2.25%, 09/22/2031 (A)		630,111		630,208
Series 2016-1A, Class A,
2.25%, 12/20/2033 (A)		2,395,927		2,394,016
Series 2019-1A, Class A,
2.89%, 11/20/2036 (A)		2,498,204		2,564,412
New Residential Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.52%, 08/15/2053 (A)		12,340,000		12,391,603
Series 2019-T3, Class AT3,
2.51%, 09/15/2052 (A)		11,600,000		11,686,191
Series 2019-T4, Class AT4,
2.33%, 10/15/2051 (A)		1,240,000		1,243,616
NRZ Advance Receivables Trust
Series 2019-T1, Class AT1,
2.59%, 07/15/2052 (A)		7,750,000		7,819,010

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Octagon Investment Partners 33, Ltd.
Series 2017-1A, Class A1,
3-Month LIBOR + 1.19%, 3.01% (C), 01/20/2031 (A)		$   3,600,000		$   3,598,420
Ocwen Master Advance Receivables Trust
Series 2019-T1, Class AT1,
2.51%, 08/15/2050 (A)		5,918,000		5,946,553
Series 2019-T2, Class AT2,
2.42%, 08/15/2051 (A)		5,918,000		5,981,023
Orange Lake Timeshare Trust
Series 2014-AA, Class A,
2.29%, 07/09/2029 (A)		358,733		358,271
Series 2015-AA, Class A,
2.88%, 09/08/2027 (A)		731,527		737,356
Series 2018-A, Class A,
3.10%, 11/08/2030 (A)		2,458,682		2,503,295
Series 2018-A, Class B,
3.35%, 11/08/2030 (A)		2,011,632		2,042,769
Series 2019-A, Class A,
3.06%, 04/09/2038 (A)		1,326,515		1,353,008
Palmer Square CLO, Ltd.
Series 2015-2A, Class A1AR,
3-Month LIBOR + 1.27%, 3.10% (C), 07/20/2030 (A)		6,445,000		6,452,515
Series 2015-2A, Class A1R2,
3-Month LIBOR + 1.10%, 0.00% (C), 07/20/2030 (A) (D)		6,450,000		6,450,000
RAAC Trust
Series 2007-RP4, Class A,
1-Month LIBOR + 0.35%, 2.01% (C), 11/25/2046 (A)		682,311		653,658
Sierra Timeshare Receivables Funding LLC
Series 2015-3A, Class A,
2.58%, 09/20/2032 (A)		500,116		501,027
Series 2016-2A, Class A,
2.33%, 07/20/2033 (A)		789,380		791,244
SolarCity LMC LLC
Series 2014-2, Class A,
4.02%, 07/20/2044 (A)		3,399,694		3,444,784
Symphony CLO XIX, Ltd.
Series 2018-19A, Class A,
3-Month LIBOR + 0.96%, 2.80% (C), 04/16/2031 (A)		3,000,000		2,985,909
Towd Point Mortgage Trust
Series 2015-3, Class A1B,
3.00% (C), 03/25/2054 (A)		2,418,059		2,426,695
Series 2015-4, Class A1B,
2.75% (C), 04/25/2055 (A)		633,348		633,886
Series 2015-5, Class A1B,
2.75% (C), 05/25/2055 (A)		3,919,149		3,926,550
Series 2015-6, Class A1B,
2.75% (C), 04/25/2055 (A)		2,265,637		2,279,686
Series 2016-2, Class A1A,
2.75% (C), 08/25/2055 (A)		2,454,874		2,487,696
Series 2016-3, Class A1,
2.25% (C), 04/25/2056 (A)		3,996,268		4,001,351
Series 2016-4, Class A1,
2.25% (C), 07/25/2056 (A)		3,037,000		3,036,849
Series 2017-1, Class A1,
2.75% (C), 10/25/2056 (A)		3,633,224		3,676,656
Series 2017-2, Class A1,
2.75% (C), 04/25/2057 (A)		4,196,427		4,240,582
Series 2017-3, Class A1,
2.75% (C), 07/25/2057 (A)		1,246,511		1,264,295

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Towd Point Mortgage Trust (continued)
Series 2017-6, Class A1,
2.75% (C), 10/25/2057 (A)		$   6,728,966		$   6,829,299
Series 2018-1, Class A1,
3.00% (C), 01/25/2058 (A)		10,850,536		11,051,137
VB-S1 Issuer LLC
Series 2018-1A, Class C,
3.41%, 02/15/2048 (A)		7,945,000		8,065,790
VSE VOI Mortgage LLC
Series 2016-A, Class A,
2.54%, 07/20/2033 (A)		3,094,044		3,098,010
Welk Resorts LLC
Series 2017-AA, Class A,
2.82%, 06/15/2033 (A)		4,335,133		4,395,850
Wellfleet CLO, Ltd.
Series 2016-2A, Class A1R,
3-Month LIBOR + 1.14%, 2.96% (C), 10/20/2028 (A)		8,060,000		8,063,869
Total Asset-Backed Securities (Cost $190,006,020)				191,756,074
CORPORATE DEBT SECURITIES - 34.9%
Aerospace & Defense - 0.4%
Boeing Co.
3.50%, 03/01/2039		5,359,000		5,626,195
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		2,702,000		2,816,939
				8,443,134
Airlines - 1.3%
American Airlines Pass-Through Trust
3.15%, 08/15/2033		1,378,000		1,496,006
3.20%, 12/15/2029		191		204
Continental Airlines Pass-Through Trust
4.00%, 04/29/2026		3,858,640		4,129,194
Delta Air Lines Pass-Through Trust
4.75%, 11/07/2021		2,372,304		2,390,082
6.82%, 02/10/2024		7,676,343		8,363,330
JetBlue Pass-Through Trust
2.75%, 11/15/2033		4,909,000		5,092,480
Southwest Airlines Co. Pass-Through Trust
6.15%, 02/01/2024		211,790		223,232
United Airlines Pass-Through Trust
3.75%, 03/03/2028		5,213,296		5,608,467
US Airways Pass-Through Trust
5.38%, 05/15/2023		2,177,286		2,275,786
				29,578,781
Auto Components - 0.1%
BorgWarner, Inc.
3.38%, 03/15/2025		2,573,000		2,738,974
Automobiles - 0.2%
General Motors Co.
4.88%, 10/02/2023		2,588,000		2,805,470
6.25%, 10/02/2043		1,021,000		1,206,620
				4,012,090
Banks - 5.2%
Banco Santander SA
2.71%, 06/27/2024		7,200,000		7,399,634
Bank of America Corp.
Fixed until 01/23/2025, 3.37% (C), 01/23/2026		11,834,000		12,572,620
Fixed until 12/20/2027, 3.42% (C), 12/20/2028		6,160,000		6,611,612

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Barclays Bank PLC
10.18%, 06/12/2021 (A)		$   8,135,000		$   9,002,124
BNP Paribas SA
4.40%, 08/14/2028 (A)		5,799,000		6,579,774
CIT Group, Inc.
4.13%, 03/09/2021		555,000		563,880
Citigroup, Inc.
Fixed until 01/29/2030, 2.67% (C), 01/29/2031		2,846,000		2,880,925
Fixed until 04/24/2024, 3.35% (C), 04/24/2025		2,620,000		2,757,008
Fixed until 10/27/2027, 3.52% (C), 10/27/2028		4,641,000		4,991,893
Commerzbank AG
8.13%, 09/19/2023 (A)		6,686,000		7,858,923
Credit Agricole SA
3.25%, 01/14/2030 (A)		5,218,000		5,379,156
Danske Bank A/S
Fixed until 12/20/2024, 3.24% (C), 12/20/2025 (A)		5,822,000		6,025,479
Discover Bank
3.45%, 07/27/2026		5,172,000		5,469,551
Intesa Sanpaolo SpA
5.02%, 06/26/2024 (A)		2,945,000		3,127,212
JPMorgan Chase & Co.
Fixed until 07/23/2023, 3.80% (C), 07/23/2024		5,065,000		5,382,290
4.13%, 12/15/2026		7,705,000		8,621,848
6.40%, 05/15/2038		4,028,000		5,968,623
Lloyds Banking Group PLC
Fixed until 11/07/2022, 2.91% (C), 11/07/2023		2,579,000		2,633,418
National Australia Bank, Ltd.
Fixed until 08/02/2029, 3.93% (C), 08/02/2034 (A)		5,799,000		6,165,813
Wells Fargo & Co.
4.10%, 06/03/2026, MTN		9,337,000		10,270,044
Fixed until 06/15/2024 (E), 5.90% (C)		2,620,000		2,848,176
				123,110,003
Beverages - 1.0%
Anheuser-Busch InBev Worldwide, Inc.
4.15%, 01/23/2025		1,058,000		1,166,916
4.44%, 10/06/2048		5,272,000		6,243,102
4.75%, 01/23/2029		3,658,000		4,328,550
Constellation Brands, Inc.
3.15%, 08/01/2029		1,868,000		1,945,374
3.70%, 12/06/2026		1,334,000		1,451,135
Pernod Ricard SA
4.45%, 01/15/2022 (A)		2,988,000		3,139,387
5.75%, 04/07/2021 (A)		5,994,000		6,273,428
				24,547,892
Biotechnology - 0.2%
AbbVie, Inc.
3.20%, 05/14/2026		1,655,000		1,734,087
4.05%, 11/21/2039 (A)		2,247,000		2,444,922
Gilead Sciences, Inc.
4.15%, 03/01/2047		1,126,000		1,302,206
				5,481,215

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Capital Markets - 2.4%
Ameriprise Financial, Inc.
3.70%, 10/15/2024		$   3,231,000		$   3,506,751
Credit Suisse Group Funding Guernsey, Ltd.
3.75%, 03/26/2025		4,794,000		5,138,695
Goldman Sachs Group, Inc.
5.25%, 07/27/2021		7,459,000		7,837,555
6.75%, 10/01/2037		4,327,000		6,182,059
Lazard Group LLC
4.50%, 09/19/2028		6,160,000		7,043,015
Morgan Stanley
Fixed until 01/22/2030, 2.70% (C), 01/22/2031, MTN		4,405,000		4,476,597
3.70%, 10/23/2024, MTN		5,930,000		6,392,358
Fixed until 01/24/2028, 3.77% (C), 01/24/2029, MTN		1,287,000		1,414,996
5.00%, 11/24/2025		3,797,000		4,341,595
UBS AG
7.63%, 08/17/2022		9,500,000		10,725,690
				57,059,311
Chemicals - 0.2%
Syngenta Finance NV
3.93%, 04/23/2021 (A)		3,870,000		3,950,610
Commercial Services & Supplies - 0.5%
CK Hutchison International 17 II, Ltd.
2.25%, 09/29/2020 (A)		2,275,000		2,277,308
ERAC USA Finance LLC
2.70%, 11/01/2023 (A)		4,179,000		4,278,342
3.85%, 11/15/2024 (A)		2,868,000		3,090,977
Waste Connections, Inc.
2.60%, 02/01/2030		3,107,000		3,145,061
				12,791,688
Communications Equipment - 0.2%
Nokia OYJ
3.38%, 06/12/2022		3,636,000		3,690,540
Construction & Engineering - 1.3%
SBA Tower Trust
2.84%, 01/15/2025 (A)		20,209,000		20,917,603
3.17%, 04/09/2047 (A)		3,837,000		3,904,417
3.45%, 03/15/2048 (A)		5,515,000		5,775,752
				30,597,772
Construction Materials - 0.6%
CRH America Finance, Inc.
4.50%, 04/04/2048 (A)		2,625,000		3,018,936
LafargeHolcim Finance LLC
4.75%, 09/22/2046 (A)		5,252,000		6,044,627
Martin Marietta Materials, Inc.
3.50%, 12/15/2027		2,782,000		2,986,934
4.25%, 12/15/2047		2,897,000		3,210,020
				15,260,517
Consumer Finance - 1.1%
Ally Financial, Inc.
3.88%, 05/21/2024		2,939,000		3,099,411
4.13%, 03/30/2020		5,271,000		5,289,027
American Express Co.
4.05%, 12/03/2042		1,971,000		2,422,309
BMW US Capital LLC
2.80%, 04/11/2026 (A)		4,544,000		4,697,256

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Finance (continued)
Capital One Financial Corp.
3.30%, 10/30/2024		$   5,137,000		$   5,418,923
Ford Motor Credit Co. LLC
4.54%, 08/01/2026		4,083,000		4,248,869
				25,175,795
Containers & Packaging - 0.3%
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.13%, 07/15/2023 (A)		2,095,000		2,137,969
5.75%, 10/15/2020		3,900,659		3,909,630
				6,047,599
Diversified Consumer Services - 0.0% (F)
President & Fellows of Harvard College
3.62%, 10/01/2037		618,000		700,120
Diversified Financial Services - 0.4%
Aviation Capital Group LLC
7.13%, 10/15/2020 (A)		7,933,000		8,211,441
Diversified Telecommunication Services - 1.4%
AT&T, Inc.
3.40%, 05/15/2025		5,893,000		6,252,767
GTP Acquisition Partners I LLC
2.35%, 06/15/2045 (A)		1,585,000		1,573,493
Hughes Satellite Systems Corp.
7.63%, 06/15/2021		2,295,000		2,454,043
Level 3 Financing, Inc.
3.40%, 03/01/2027 (A)		3,360,000		3,451,728
Sprint Capital Corp.
6.88%, 11/15/2028		822,000		836,385
Verizon Communications, Inc.
3.50%, 11/01/2024		9,618,000		10,306,565
5.50%, 03/16/2047		6,762,000		9,434,601
				34,309,582
Electric Utilities - 1.4%
Appalachian Power Co.
3.40%, 06/01/2025		6,233,000		6,665,173
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		435,000		569,650
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		11,453,000		12,243,103
Duke Energy Progress LLC
3.60%, 09/15/2047		1,923,000		2,125,764
Entergy Arkansas LLC
3.70%, 06/01/2024		1,054,000		1,131,119
Oncor Electric Delivery Co. LLC
4.10%, 06/01/2022		3,197,000		3,354,915
5.30%, 06/01/2042		499,000		684,233
PacifiCorp.
3.60%, 04/01/2024		4,009,000		4,286,851
5.75%, 04/01/2037		380,000		524,482
Public Service Electric & Gas Co.
3.00%, 05/15/2025, MTN		2,047,000		2,158,941
				33,744,231
Electronic Equipment, Instruments & Components - 0.7%
Amphenol Corp.
2.80%, 02/15/2030		3,507,000		3,557,241
Arrow Electronics, Inc.
3.88%, 01/12/2028		2,547,000		2,686,018

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electronic Equipment, Instruments & Components (continued)
Jabil, Inc.
3.60%, 01/15/2030		$   2,180,000		$   2,239,230
Keysight Technologies, Inc.
4.60%, 04/06/2027		7,153,000		8,137,751
				16,620,240
Energy Equipment & Services - 0.2%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (A)		4,587,000		4,944,601
Schlumberger Investment SA
3.65%, 12/01/2023		793,000		845,907
				5,790,508
Equity Real Estate Investment Trusts - 1.8%
American Tower Trust #1
3.65%, 03/15/2048 (A)		2,000,000		2,151,821
CBL & Associates, LP
5.25%, 12/01/2023 (G)		3,532,000		2,119,200
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		1,527,000		1,549,050
EPR Properties
4.75%, 12/15/2026		4,088,000		4,548,667
Healthcare Trust of America Holdings, LP
3.10%, 02/15/2030		3,070,000		3,172,633
Healthpeak Properties, Inc.
3.50%, 07/15/2029		2,820,000		3,017,181
Highwoods Realty, LP
3.05%, 02/15/2030		3,940,000		4,027,262
Kilroy Realty, LP
4.25%, 08/15/2029		4,445,000		4,975,753
Life Storage, LP
4.00%, 06/15/2029		2,926,000		3,216,621
Service Properties Trust
5.00%, 08/15/2022		5,301,000		5,586,382
VEREIT Operating Partnership, LP
4.63%, 11/01/2025		2,350,000		2,621,428
WEA Finance LLC
4.13%, 09/20/2028 (A)		4,510,000		5,005,137
				41,991,135
Food & Staples Retailing - 0.5%
Sysco Corp.
3.30%, 07/15/2026		4,186,000		4,506,842
Walmart, Inc.
3.63%, 12/15/2047		6,687,000		7,641,236
				12,148,078
Health Care Equipment & Supplies - 0.3%
Abbott Laboratories
3.75%, 11/30/2026		1,017,000		1,129,023
Alcon Finance Corp.
2.75%, 09/23/2026 (A)		2,289,000		2,371,219
Boston Scientific Corp.
4.70%, 03/01/2049		3,533,000		4,449,389
				7,949,631
Health Care Providers & Services - 1.0%
Cigna Corp.
3.25%, 04/15/2025 (A)		3,140,000		3,292,507
CVS Health Corp.
2.13%, 06/01/2021		3,279,000		3,294,406
4.10%, 03/25/2025		2,112,000		2,296,643
HCA, Inc.
4.13%, 06/15/2029		1,319,000		1,427,415
5.25%, 04/15/2025		1,265,000		1,436,958

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Providers & Services (continued)
Laboratory Corp. of America Holdings
2.30%, 12/01/2024		$   4,996,000		$   5,063,737
Quest Diagnostics, Inc.
4.20%, 06/30/2029 (G)		5,274,000		5,948,428
				22,760,094
Household Durables - 0.2%
D.R. Horton, Inc.
4.38%, 09/15/2022		4,461,000		4,700,678
Industrial Conglomerates - 0.3%
Carlisle Cos., Inc.
3.75%, 12/01/2027		4,041,000		4,358,645
General Electric Co.
6.88%, 01/10/2039, MTN		2,595,000		3,674,670
				8,033,315
Insurance - 1.3%
American International Group, Inc.
4.20%, 04/01/2028		3,500,000		3,940,380
4.25%, 03/15/2029		2,791,000		3,166,305
Athene Global Funding
3.00%, 07/01/2022 (A)		3,690,000		3,779,633
CNA Financial Corp.
3.90%, 05/01/2029		3,137,000		3,482,823
Markel Corp.
3.35%, 09/17/2029		8,861,000		9,371,540
Reinsurance Group of America, Inc.
3.90%, 05/15/2029		6,631,000		7,223,033
				30,963,714
Interactive Media & Services - 0.4%
Baidu, Inc.
4.38%, 05/14/2024		5,327,000		5,744,690
Tencent Holdings, Ltd.
3.28%, 04/11/2024 (A)		4,190,000		4,378,877
				10,123,567
Internet & Direct Marketing Retail - 0.3%
Booking Holdings, Inc.
3.60%, 06/01/2026		2,633,000		2,871,672
Expedia Group, Inc.
3.25%, 02/15/2030 (A)		1,907,000		1,874,515
3.80%, 02/15/2028		2,924,000		3,032,822
				7,779,009
IT Services - 0.3%
Fidelity National Information Services, Inc.
3.75%, 05/21/2029		2,137,000		2,388,347
Fiserv, Inc.
3.50%, 07/01/2029		3,869,000		4,169,113
				6,557,460
Life Sciences Tools & Services - 0.1%
Thermo Fisher Scientific, Inc.
5.30%, 02/01/2044		1,921,000		2,563,655
Machinery - 0.1%
Doosan Heavy Industries & Construction Co., Ltd.
2.13%, 04/27/2020 (A)		2,430,000		2,430,698

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media - 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp.
5.75%, 01/15/2024		$   512,000		$   522,880
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		2,543,000		2,721,340
Clear Channel Worldwide Holdings, Inc.
5.13%, 08/15/2027 (A)		2,020,000		2,080,600
NBCUniversal Enterprise, Inc.
5.25%, 03/19/2021 (A) (E)		3,528,000		3,641,390
NBCUniversal Media LLC
4.45%, 01/15/2043		3,875,000		4,638,886
				13,605,096
Metals & Mining - 0.3%
Anglo American Capital PLC
4.00%, 09/11/2027 (A)		4,820,000		5,154,517
4.75%, 04/10/2027 (A)		1,105,000		1,229,352
Freeport-McMoRan, Inc.
3.88%, 03/15/2023		1,125,000		1,147,500
				7,531,369
Multi-Utilities - 0.8%
Black Hills Corp.
4.25%, 11/30/2023		4,395,000		4,713,853
CMS Energy Corp.
3.88%, 03/01/2024		512,000		546,650
4.88%, 03/01/2044		689,000		874,957
Dominion Energy, Inc.
2.58%, 07/01/2020		3,750,000		3,761,108
DTE Electric Co.
4.30%, 07/01/2044		5,148,000		6,305,842
Public Service Enterprise Group, Inc.
2.65%, 11/15/2022		1,472,000		1,501,984
				17,704,394
Oil, Gas & Consumable Fuels - 3.1%
BP Capital Markets PLC
3.12%, 05/04/2026 (G)		7,948,000		8,416,174
Energy Transfer Operating, LP
4.90%, 02/01/2024		2,617,000		2,836,585
5.15%, 03/15/2045		1,176,000		1,220,825
5.95%, 10/01/2043		912,000		1,016,406
7.60%, 02/01/2024		2,854,000		3,343,043
Enterprise Products Operating LLC
4.25%, 02/15/2048		7,012,000		7,643,109
Kinder Morgan Energy Partners, LP
4.15%, 02/01/2024		4,929,000		5,280,647
Nexen, Inc.
5.88%, 03/10/2035		110,000		146,185
Noble Energy, Inc.
3.25%, 10/15/2029		6,151,000		6,189,619
Occidental Petroleum Corp.
5.55%, 03/15/2026		7,066,000		8,166,690
Petroleos Mexicanos
6.84%, 01/23/2030 (A)		5,104,000		5,530,184
6.88%, 08/04/2026		3,335,000		3,761,880
7.69%, 01/23/2050 (A)		641,000		704,203
Plains All American Pipeline, LP / PAA Finance Corp.
3.55%, 12/15/2029		5,687,000		5,655,442
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028		2,827,000		3,025,954

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Shell International Finance BV
2.50%, 09/12/2026		$   4,628,000		$   4,794,740
3.75%, 09/12/2046		2,015,000		2,269,785
Western Midstream Operating, LP
4.05%, 02/01/2030		2,059,000		2,052,364
5.38%, 06/01/2021		679,000		700,551
Williams Cos., Inc.
5.40%, 03/04/2044		773,000		871,951
7.88%, 09/01/2021		756,000		823,090
				74,449,427
Pharmaceuticals - 0.9%
AstraZeneca PLC
2.38%, 06/12/2022		3,874,000		3,937,178
4.00%, 01/17/2029		1,539,000		1,749,354
4.38%, 08/17/2048		1,683,000		2,094,986
Bayer US Finance II LLC
4.38%, 12/15/2028 (A)		2,947,000		3,316,587
Bristol-Myers Squibb Co.
3.20%, 06/15/2026 (A)		1,815,000		1,930,638
Merck & Co., Inc.
3.40%, 03/07/2029		2,136,000		2,361,284
Takeda Pharmaceutical Co., Ltd.
5.00%, 11/26/2028		4,249,000		5,064,537
				20,454,564
Professional Services - 0.1%
Equifax, Inc.
2.60%, 12/01/2024		2,825,000		2,901,831
Road & Rail - 0.4%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (A)		6,639,000		7,184,792
CSX Corp.
3.80%, 11/01/2046		2,785,000		3,070,804
				10,255,596
Semiconductors & Semiconductor Equipment - 0.9%
Intel Corp.
2.88%, 05/11/2024		2,466,000		2,586,127
KLA Corp.
4.10%, 03/15/2029		3,984,000		4,472,631
Lam Research Corp.
3.75%, 03/15/2026		3,819,000		4,176,180
NXP BV / NXP Funding LLC / NXP USA, Inc.
4.30%, 06/18/2029 (A)		2,555,000		2,826,812
QUALCOMM, Inc.
3.25%, 05/20/2027		4,230,000		4,544,458
Sensata Technologies, Inc., Co.
4.38%, 02/15/2030 (A)		2,585,000		2,620,027
				21,226,235
Software - 0.3%
Adobe, Inc.
2.15%, 02/01/2027 (D)		3,226,000		3,269,978
Microsoft Corp.
3.30%, 02/06/2027		3,656,000		4,002,384
PTC, Inc.
4.00%, 02/15/2028 (A) (D)		650,000		656,500
				7,928,862
Technology Hardware, Storage & Peripherals - 0.6%
Apple, Inc.
2.85%, 02/23/2023		3,946,000		4,087,833

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Technology Hardware, Storage & Peripherals (continued)
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (A)		$   2,948,000		$   3,442,473
Western Digital Corp.
4.75%, 02/15/2026 (G)		5,945,000		6,346,287
				13,876,593
Tobacco - 0.3%
Altria Group, Inc.
4.80%, 02/14/2029		3,241,000		3,673,302
BAT Capital Corp.
3.22%, 08/15/2024		3,510,000		3,648,999
				7,322,301
Transportation Infrastructure - 0.1%
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.45%, 07/01/2024 (A)		2,942,000		3,104,873
Wireless Telecommunication Services - 0.8%
America Movil SAB de CV
3.13%, 07/16/2022		2,975,000		3,067,699
4.38%, 07/16/2042		2,600,000		3,082,149
Crown Castle Towers LLC
3.22%, 05/15/2042 (A)		6,783,000		6,898,803
3.72%, 07/15/2043 (A)		3,495,000		3,645,765
Sprint Corp.
7.25%, 09/15/2021		1,520,000		1,594,100
7.88%, 09/15/2023		1,290,000		1,370,483
				19,658,999
Total Corporate Debt Securities (Cost $779,100,198)				829,883,217
FOREIGN GOVERNMENT OBLIGATIONS - 1.3%
Brazil - 0.1%
Brazil Government International Bond
4.25%, 01/07/2025		1,440,000		1,558,800
Chile - 0.1%
Chile Government International Bond
3.50%, 01/25/2050		2,425,000		2,638,400
Colombia - 0.3%
Colombia Government International Bond
4.00%, 02/26/2024		810,000		859,361
4.50%, 01/28/2026		5,575,000		6,145,769
				7,005,130
Indonesia - 0.3%
Indonesia Government International Bond
4.75%, 01/08/2026 (A)		4,060,000		4,546,511
5.38%, 10/17/2023 (A)		1,500,000		1,669,995
				6,216,506
Mexico - 0.2%
Mexico Government International Bond
3.75%, 01/11/2028		5,487,000		5,816,220
Panama - 0.1%
Panama Government International Bond
3.88%, 03/17/2028		1,335,000		1,473,186
Peru - 0.1%
Peru Government International Bond
7.35%, 07/21/2025		1,010,000		1,291,285

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Poland - 0.0% (F)
Republic of Poland Government International Bond
3.00%, 03/17/2023		$   500,000		$   518,960
Qatar - 0.0% (F)
Qatar Government International Bond
3.88%, 04/23/2023 (A)		913,000		965,497
Saudi Arabia - 0.1%
Saudi Arabia Government International Bond
2.38%, 10/26/2021 (A)		2,547,000		2,567,172
Total Foreign Government Obligations (Cost $28,318,145)				30,051,156
MORTGAGE-BACKED SECURITIES - 10.4%
Alternative Loan Trust
Series 2005-36, Class 2A1A,
1-Month LIBOR + 0.31%, 1.97% (C), 08/25/2035		578,775		517,765
Series 2005-50CB, Class 1A1,
5.50%, 11/25/2035		973,474		957,676
Series 2005-51, Class 3A3A,
1-Month LIBOR + 0.64%, 2.29% (C), 11/20/2035		572,602		552,438
Series 2007-22, Class 2A16,
6.50%, 09/25/2037		5,549,032		3,646,097
Series 2007-5CB, Class 1A31,
5.50%, 04/25/2037		1,020,500		821,145
Banc of America Funding Trust
Series 2005-E, Class 4A1,
4.40% (C), 03/20/2035		10,878		10,945
BB-UBS Trust
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (A)		12,060,000		12,064,109
Series 2012-TFT, Class C,
3.58% (C), 06/05/2030 (A)		7,195,000		7,163,265
BBCMS Trust
Series 2013-TYSN, Class B,
4.04%, 09/05/2032 (A)		2,530,000		2,546,245
Series 2015-MSQ, Class B,
3.89%, 09/15/2032 (A)		1,100,000		1,139,708
Bear Stearns Alt-A Trust
Series 2004-11, Class 2A2,
4.33% (C), 11/25/2034		29,879		29,820
CHL Mortgage Pass-Through Trust
Series 2003-60, Class 1A1,
3.87% (C), 02/25/2034		36,278		37,271
Series 2005-3, Class 1A2,
1-Month LIBOR + 0.58%, 2.24% (C), 04/25/2035		118,022		112,934
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
3.75%, 03/10/2047		901,669		961,499
Series 2014-GC19, Class A4,
4.02%, 03/10/2047		2,065,000		2,223,841
Citigroup Mortgage Loan Trust
Series 2015-PS1, Class A1,
3.75% (C), 09/25/2042 (A)		975,656		998,627
Citigroup Mortgage Loan Trust, Inc.
Series 2014-A, Class A,
4.00% (C), 01/25/2035 (A)		577,076		599,197
Series 2015-A, Class A1,
3.50% (C), 06/25/2058 (A)		1,918,420		1,955,936
Series 2018-RP1, Class A1,
3.00% (C), 09/25/2064 (A)		3,148,328		3,208,210

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
COMM Mortgage Trust
Series 2013-CR11, Class AM,
4.72% (C), 08/10/2050		$   565,000		$   617,314
Series 2013-GAM, Class A1,
1.71%, 02/10/2028 (A)		405,878		404,441
Series 2013-GAM, Class A2,
3.37%, 02/10/2028 (A)		4,005,000		4,027,227
Series 2014-UBS2, Class A5,
3.96%, 03/10/2047		4,680,000		5,028,440
Series 2015-3BP, Class A,
3.18%, 02/10/2035 (A)		20,340,000		21,565,727
Series 2016-GCT, Class C,
3.58% (C), 08/10/2029 (A)		4,900,000		4,958,376
Commercial Mortgage Pass-Through Certificates Trust
Series 2012-LTRT, Class A2,
3.40%, 10/05/2030 (A)		7,035,000		7,172,018
CSMC Trust
Series 2014-11R, Class 17A1,
1-Month LIBOR + 0.15%, 1.94% (C), 12/27/2036 (A)		991,132		979,716
Series 2014-4R, Class 21A1,
1-Month LIBOR + 0.33%, 2.45% (C), 12/27/2035 (A)		2,524,456		2,515,204
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 (A)		6,050,000		6,324,615
GMACM Mortgage Loan Trust
Series 2005-AR1, Class 3A,
4.41% (C), 03/18/2035		19,802		19,918
GS Mortgage Securities Trust
Series 2013-G1, Class A2,
3.56% (C), 04/10/2031 (A)		4,664,567		4,790,453
HarborView Mortgage Loan Trust
Series 2004-4, Class 2A,
1-Month LIBOR + 0.56%, 2.22% (C), 06/19/2034		252,129		250,080
Houston Galleria Mall Trust
Series 2015-HGLR, Class A1A2,
3.09%, 03/05/2037 (A)		4,498,000		4,690,230
Impac CMB Trust
Series 2003-8, Class 1A1,
1-Month LIBOR + 0.68%, 2.34% (C), 10/25/2033		10,941		10,947
Series 2004-6, Class 1A1,
1-Month LIBOR + 0.80%, 2.46% (C), 10/25/2034		15,715		15,779
IndyMac INDX Mortgage Loan Trust
Series 2007-AR15, Class 2A1,
3.67% (C), 08/25/2037		388,904		335,813
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2012-WLDN, Class A,
3.91%, 05/05/2030 (A)		6,618,369		6,822,114
Series 2014-DSTY, Class B,
3.77%, 06/10/2027 (A)		4,800,000		4,527,652
JPMorgan Mortgage Trust
Series 2004-A1, Class 1A1,
3.65% (C), 02/25/2034		30,837		31,259
Series 2006-A2, Class 5A1,
4.11% (C), 11/25/2033		23,158		24,277
Series 2006-S3, Class 1A12,
6.50%, 08/25/2036		206,639		143,433
MASTR Adjustable Rate Mortgages Trust
Series 2007-R5, Class A1,
4.06% (C), 11/25/2035 (A)		291,906		225,290

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Merrill Lynch Mortgage Investors Trust
Series 2003-F, Class A1,
1-Month LIBOR + 0.64%, 2.30% (C), 10/25/2028		$   16,547		$   16,659
Series 2004-A1, Class 2A1,
3.97% (C), 02/25/2034		96,481		98,200
Series 2005-A3, Class A1,
1-Month LIBOR + 0.27%, 1.93% (C), 04/25/2035		4,440		4,437
Series 2005-A4, Class 2A2,
4.41% (C), 07/25/2035		83,871		83,018
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2012-C6, Class AS,
3.48%, 11/15/2045		1,800,000		1,860,767
Series 2013-C11, Class B,
4.50% (C), 08/15/2046		1,035,000		1,095,131
Morgan Stanley Capital Barclays Bank Trust
Series 2016-MART, Class A,
2.20%, 09/13/2031 (A)		13,747,000		13,764,277
Morgan Stanley Resecuritization Trust
Series 2014-R3, Class 2A,
3.00% (C), 07/26/2048 (A)		3,145,035		3,146,779
Series 2014-R4, Class 4A,
3.93% (C), 11/21/2035 (A)		454,343		461,279
Motel 6 Trust
Series 2017-MTL6, Class C,
1-Month LIBOR + 1.40%, 3.08% (C), 08/15/2034 (A)		16,983,809		16,983,656
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% (C), 12/25/2052 (A)		1,686,810		1,726,428
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (C), 01/25/2054 (A)		663,713		695,463
Series 2014-2A, Class A3,
3.75% (C), 05/25/2054 (A)		537,674		556,965
Series 2014-3A, Class AFX3,
3.75% (C), 11/25/2054 (A)		1,692,503		1,772,036
Series 2015-2A, Class A1,
3.75% (C), 08/25/2055 (A)		2,463,971		2,581,499
Series 2016-2A, Class A1,
3.75% (C), 11/26/2035 (A)		2,271,845		2,377,090
Series 2016-3A, Class A1B,
3.25% (C), 09/25/2056 (A)		3,088,446		3,184,604
Series 2017-1A, Class A1,
4.00% (C), 02/25/2057 (A)		3,822,114		4,027,950
Series 2017-2A, Class A3,
4.00% (C), 03/25/2057 (A)		1,642,173		1,738,423
Series 2017-3A, Class A1,
4.00% (C), 04/25/2057 (A)		9,317,686		9,799,515
Series 2017-4A, Class A1,
4.00% (C), 05/25/2057 (A)		3,485,456		3,688,955
Series 2018-1A, Class A1A,
4.00% (C), 12/25/2057 (A)		1,715,736		1,795,064
Series 2019-4A, Class A1B,
3.50% (C), 12/25/2058 (A)		12,431,449		12,895,685
Series 2019-5A, Class A1B,
3.50% (C), 08/25/2059 (A)		11,662,886		12,009,746
One Market Plaza Trust
Series 2017-1MKT, Class A,
3.61%, 02/10/2032 (A)		10,807,000		11,225,167
Palisades Center Trust
Series 2016-PLSD, Class A,
2.71%, 04/13/2033 (A)		6,500,000		6,485,922

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Provident Funding Mortgage Loan Trust
Series 2005-1, Class 3A1,
1-Month LIBOR + 0.58%, 2.24% (C), 05/25/2035		$   862,875		$   874,638
Queens Center Mortgage Trust
Series 2013-QCA, Class D,
3.59% (C), 01/11/2037 (A)		4,200,000		4,304,951
RALI Trust
Series 2007-QO4, Class A1A,
1-Month LIBOR + 0.19%, 1.85% (C), 05/25/2047		538,557		518,641
RBSSP Resecuritization Trust
Series 2009-7, Class 5A4,
1-Month LIBOR + 0.40%, 2.19% (C), 06/26/2037 (A)		144,335		143,829
Structured Adjustable Rate Mortgage Loan Trust
Series 2005-15, Class 1A1,
3.77% (C), 07/25/2035		290,301		229,703
Series 2007-3, Class 3A1,
4.39% (C), 04/25/2047		773,892		560,528
Structured Asset Mortgage Investments II Trust
Series 2003-AR4, Class A1,
1-Month LIBOR + 0.70%, 2.36% (C), 01/19/2034		23,534		23,367
UBS-BAMLL Trust
Series 2012-WRM, Class A,
3.66%, 06/10/2030 (A)		6,983,000		7,188,159
WaMu Mortgage Pass-Through Certificates Trust
Series 2005-AR8, Class 2A1A,
1-Month LIBOR + 0.58%, 2.24% (C), 07/25/2045		30,734		30,550
Series 2007-OA6, Class 1A1B,
12-MTA + 0.81%, 2.96% (C), 07/25/2047		179,332		17,896
Wells Fargo Commercial Mortgage Trust
Series 2015-C26, Class B,
3.78%, 02/15/2048		3,000,000		3,139,670
Total Mortgage-Backed Securities (Cost $243,091,811)				246,133,698
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.8%
California - 0.7%
Los Angeles Community College District, General Obligation Unlimited,
6.60%, 08/01/2042		340,000		558,151
State of California, General Obligation Unlimited
7.30%, 10/01/2039		1,270,000		2,030,527
7.60%, 11/01/2040		2,820,000		4,906,800
7.70%, 11/01/2030		1,650,000		1,724,481
7.95%, 03/01/2036		5,350,000		5,376,054
University of California, Revenue Bonds,
Series AD,
4.86%, 05/15/2112		315,000		433,446
				15,029,459
Georgia - 0.0% (F)
Municipal Electric Authority of Georgia, Revenue Bonds,
Series A,
6.64%, 04/01/2057		293,000		419,661

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New Jersey - 0.0% (F)
New Jersey Turnpike Authority, Revenue Bonds,
Series F,
7.41%, 01/01/2040		$   431,000		$   710,732
New York - 0.1%
Metropolitan Transportation Authority, Revenue Bonds,
Series E,
6.81%, 11/15/2040		355,000		525,304
New York City Water & Sewer System, Revenue Bonds,
Series CC,
5.88%, 06/15/2044		340,000		533,113
New York State Dormitory Authority, Revenue Bonds,
Series H,
5.39%, 03/15/2040		330,000		435,356
Port Authority of New York & New Jersey, Revenue Bonds,
Series 181,
4.96%, 08/01/2046		570,000		794,170
				2,287,943
Total Municipal Government Obligations (Cost $17,779,593)				18,447,795
U.S. GOVERNMENT AGENCY OBLIGATIONS - 20.3%
Federal Home Loan Mortgage Corp.
6-Month LIBOR + 1.36%, 3.55% (C), 05/01/2037		28,793		29,659
12-Month LIBOR + 1.75%, 3.76% (C), 12/01/2034		11,009		11,534
6-Month LIBOR + 1.57%, 3.82% (C), 04/01/2037		47,860		49,634
12-Month LIBOR + 1.73%, 3.98% (C), 09/01/2035		300,421		314,975
12-Month LIBOR + 1.80%, 4.05% (C), 09/01/2037		14,478		15,265
6-Month LIBOR + 1.57%, 4.07% (C), 02/01/2037		4,892		5,045
6-Month LIBOR + 2.12%, 4.14% (C), 05/01/2037		8,646		9,055
12-Month LIBOR + 1.66%, 4.17% (C), 01/01/2038		70,495		73,991
5.00%, 08/01/2035 - 12/01/2035		1,604,097		1,786,742
12-Month LIBOR + 1.90%, 5.03% (C), 02/01/2041		127,934		132,721
5.50%, 11/01/2038 - 06/01/2041		1,059,457		1,191,624
6.00%, 05/01/2031		296,797		340,894
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
2.89%, 06/25/2027		21,254,210		22,201,260
3.01%, 07/25/2025		16,012,000		17,039,492
3.06% (C), 08/25/2024		11,490,000		12,138,620
3.17%, 10/25/2024		2,140,000		2,278,350
3.49%, 01/25/2024		9,965,000		10,612,521
Federal National Mortgage Association
6-Month LIBOR + 0.93%, 3.21% (C), 08/01/2037		3,044		3,088
3.50%, 07/01/2028 - 01/01/2029		2,295,107		2,422,390
6-Month LIBOR + 1.51%, 3.51% (C), 01/01/2035		9,237		9,559
4.00%, 06/01/2042		850,379		915,827

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
6-Month LIBOR + 1.53%, 4.03% (C), 08/01/2034		$   1,794		$   1,828
12-Month LIBOR + 1.74%, 4.49% (C), 08/01/2035		29,874		31,418
4.50%, 02/01/2025 - 06/01/2026		1,018,710		1,072,979
12-Month LIBOR + 1.75%, 4.82% (C), 03/01/2041		107,356		111,754
12-Month LIBOR + 1.82%, 4.90% (C), 03/01/2041		33,182		34,752
5.00%, 04/01/2039 - 11/01/2039		11,503,452		12,850,721
5.50%, 04/01/2036 - 12/01/2041		5,514,505		6,261,734
6.00%, 02/01/2034 - 06/01/2041		10,947,814		12,586,833
6.50%, 06/01/2038 - 05/01/2040		1,662,633		1,942,577
Government National Mortgage Association, Interest Only STRIPS
0.80% (C), 02/16/2053		5,738,227		277,341
Uniform Mortgage-Backed Security
2.50%, TBA (D)		25,514,000		25,972,455
3.00%, TBA (D)		154,844,000		158,384,708
3.50%, TBA (D)		133,845,000		138,133,993
4.00%, TBA (D)		50,656,000		52,934,646
Total U.S. Government Agency Obligations (Cost $476,867,642)				482,179,985
U.S. GOVERNMENT OBLIGATIONS - 26.2%
U.S. Treasury - 23.0%
U.S. Treasury Bond
2.25%, 08/15/2046		4,905,000		5,125,342
2.50%, 02/15/2045 - 05/15/2046		46,751,200		51,137,844
2.75%, 08/15/2042 - 11/15/2047		41,572,400		47,698,636
2.88%, 08/15/2045		6,203,000		7,252,664
3.00%, 05/15/2042 - 02/15/2049		19,615,300		23,557,389
3.13%, 02/15/2042 - 05/15/2048		25,862,800		31,308,121
3.50%, 02/15/2039		7,016,100		8,920,039
3.63%, 02/15/2044		42,584,600		55,720,951
4.50%, 02/15/2036		22,693,200		31,565,709
4.75%, 02/15/2037		24,549,000		35,478,100
5.25%, 02/15/2029		18,146,100		23,906,069
U.S. Treasury Note
1.13%, 06/30/2021 - 09/30/2021		29,963,000		29,836,027
1.50%, 08/15/2026		4,027,000		4,047,292
1.63%, 08/15/2022 - 08/15/2029		10,823,000		10,917,020
1.75%, 05/15/2023		5,064,000		5,135,410
2.00%, 02/28/2021 - 02/15/2025		28,292,000		28,842,615
2.13%, 05/15/2025		7,128,000		7,410,364
2.25%, 11/15/2027		2,439,400		2,581,857
2.38%, 02/29/2024 - 05/15/2029		42,420,000		45,543,978
2.50%, 12/31/2020 - 01/31/2024		25,973,000		26,750,079
2.63%, 08/15/2020 - 02/15/2029		10,994,400		11,526,773
2.75%, 02/15/2028		11,785,000		12,931,736
2.88%, 05/15/2028 - 05/15/2049		33,887,300		38,579,903
				545,773,918
U.S. Treasury Inflation-Protected Securities - 3.2%
U.S. Treasury Inflation-Indexed Bond
1.75%, 01/15/2028		9,706,872		11,153,440
2.50%, 01/15/2029		22,373,556		27,617,149
U.S. Treasury Inflation-Indexed Note
0.63%, 01/15/2024		37,495,002		38,680,268
				77,450,857
Total U.S. Government Obligations (Cost $569,600,832)				623,224,775

	Shares		Value
PREFERRED STOCKS - 0.1%
Banks - 0.1%
Citigroup Capital XIII,
3-Month LIBOR + 6.37%, 8.14% (C)		60,502		$   1,704,947
Electric Utilities - 0.0% (F)
SCE Trust III,
Series H, Fixed until 03/15/2024, 5.75% (C)		7,998		199,150
Total Preferred Stocks (Cost $1,827,194)				1,904,097
	Principal		Value
COMMERCIAL PAPER - 13.2%
Banks - 1.6%
Banco Santander SA
1.99% (H), 02/10/2020		$  25,000,000		24,987,813
Natixis
1.89% (H), 02/04/2020		13,330,000		13,327,934
				38,315,747
Capital Markets - 1.0%
Cedar Springs Capital Co. LLC
2.04% (H), 03/16/2020		24,000,000		23,941,333
Commercial Services & Supplies - 0.5%
Charta LLC
1.88% (H), 03/02/2020		11,000,000		10,983,042
Diversified Financial Services - 10.1%
Atlantic Asset Securitization LLC
1.88% (H), 02/11/2020		4,117,000		4,114,884
Barton Capital Corp.
1.88% (H), 02/13/2020 - 04/01/2020		21,880,000		21,856,641
Bennington Stark Capital Co. LLC
1.92% (H), 02/19/2020		24,000,000		23,977,440
Chariot Funding LLC
1.87% (H), 03/03/2020		10,000,000		9,984,156
Ciesco LLC
1.77% (H), 04/13/2020		23,000,000		22,919,960
Collateralized Commercial Paper Flex Co. LLC
1.99% (H), 03/19/2020		20,000,000		19,949,083
Gotham Funding Corp.
1.99% (H), 03/10/2020		25,000,000		24,948,542
Jupiter Securitization Co. LLC
1.78% (H), 04/13/2020		5,000,000		4,982,500
Kells Funding LLC
1.73% (H), 04/21/2020		15,500,000		15,441,444
Liberty Funding LLC
1.85% (H), 04/01/2020		24,000,000		23,927,200
Mont Blanc Capital Corp.
1.91% (H), 02/12/2020		883,000		882,495
Nieuw Amsterdam Receivables Corp.
1.73% (H), 04/06/2020		1,150,000		1,146,470
Sheffield Receivables Corp.
1.91% (H), 02/19/2020		24,670,000		24,646,934

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
COMMERCIAL PAPER (continued)
Diversified Financial Services (continued)
Starbird Funding Corp.
1.88% (H), 02/13/2020		$   17,500,000		$   17,489,208
Victory Receivables
1.87% (H), 02/21/2020		24,000,000		23,975,467
				240,242,424
Total Commercial Paper (Cost $313,482,545)				313,482,546
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 2.6%
U.S. Treasury Bill
1.54% (H), 04/02/2020		61,000,000		60,843,201
1.55% (H), 03/12/2020 (G)		1,000,000		998,306
Total Short-Term U.S. Government Obligations (Cost $61,841,507)				61,841,507
	Shares		Value
OTHER INVESTMENT COMPANY - 0.3%
Securities Lending Collateral - 0.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (H)		7,998,485		7,998,485
Total Other Investment Company (Cost $7,998,485)				7,998,485
	Principal		Value
REPURCHASE AGREEMENT - 2.8%
Fixed Income Clearing Corp., 0.85% (H), dated 01/31/2020, to be repurchased at $65,351,706 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $66,655,248.		$  65,347,077		65,347,077
Total Repurchase Agreement (Cost $65,347,077)				65,347,077
Total Investments (Cost $2,755,261,049)				2,872,250,412
Net Other Assets (Liabilities) - (21.0)%				(498,440,744	)
Net Assets - 100.0%				$  2,373,809,668

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Intermediate Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(I)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Securities	$	—	$	191,756,074	$	—	$	191,756,074
Corporate Debt Securities		—		829,883,217		—		829,883,217
Foreign Government Obligations		—		30,051,156		—		30,051,156
Mortgage-Backed Securities		—		246,133,698		—		246,133,698
Municipal Government Obligations		—		18,447,795		—		18,447,795
U.S. Government Agency Obligations		—		482,179,985		—		482,179,985
U.S. Government Obligations		—		623,224,775		—		623,224,775
Preferred Stocks		1,904,097		—		—		1,904,097
Commercial Paper		—		313,482,546		—		313,482,546
Short-Term U.S. Government Obligations		—		61,841,507		—		61,841,507
Other Investment Company		7,998,485		—		—		7,998,485
Repurchase Agreement		—		65,347,077		—		65,347,077
Total Investments	$	9,902,582	$	2,862,347,830	$	—	$	2,872,250,412

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $636,260,252, representing 26.8% of the Fund’s net assets.
(B)	Rounds to less than $1 or $(1).
(C)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(E)	Perpetual maturity. The date displayed is the next call date.
(F)	Percentage rounds to less than 0.1% or (0.1)%.
(G)	All or a portion of the securities are on loan. The total value of all securities on loan is $7,829,123. 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.
(H)	Rates disclosed reflect the yields at January 31, 2020.
(I)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTA	Month Treasury Average
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS - 94.4%
Alabama - 0.7%
Bessemer Governmental Utility Services Corp., Revenue Bonds,
BAM,
5.00%, 06/01/2029		$  2,010,000		$  2,508,138
City of Opelika, General Obligation Unlimited,
4.50%, 11/01/2020		50,000		51,289
County of Jefferson Sewer Revenue, Revenue Bonds,
Series A, AGM,
5.50%, 10/01/2053		1,015,000		1,167,098
Dekalb-Jackson Cooperative District, Revenue Bonds
AGM,
4.05%, 01/01/2050		140,000		150,546
5.00%, 01/01/2056		750,000		870,937
Harvest-Monrovia Water Sewer & Fire Protection Authority, Inc., Revenue Bonds,
AGM,
4.00%, 04/01/2025		70,000		78,348
Marshall County Board of Education, Special Tax,
AGM,
4.00%, 03/01/2032		230,000		259,495
Phenix City Board of Education, Special Tax,
BAM,
4.00%, 08/01/2044		7,500,000		8,491,050
				13,576,901
Alaska - 0.2%
Alaska Housing Finance Corp., Revenue Bonds
Series B,
2.50%, 12/01/2034		3,000,000		3,066,480
Series D,
5.00%, 12/01/2025		935,000		1,105,395
State of Alaska International Airports System, Revenue Bonds,
Series A,
5.00%, 10/01/2031		65,000		77,617
				4,249,492
Arizona - 1.8%
Arizona Health Facilities Authority, Revenue Bonds,
Series B2, AGM,
5.00%, 03/01/2041		35,000		36,324
Arizona Industrial Development Authority, Revenue Bonds
BAM,
5.00%, 06/01/2054 - 06/01/2058		8,640,000		10,324,725
Series A,
4.00%, 10/01/2049		1,000,000		1,081,650
5.00%, 03/01/2037 - 01/01/2054		1,030,000		1,234,249
Arizona Transportation Board, Revenue Bonds,
5.00%, 07/01/2020		115,000		116,940

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Arizona (continued)
BluePath Trust, Revenue Bonds,
2.75%, 09/01/2026 (A) (B)		$   4,547,539		$   4,714,873
County of Pima, Certificate of Participation,
5.00%, 12/01/2026		35,000		40,146
County of Santa Cruz, Revenue Bonds,
AGM,
4.00%, 07/01/2026		140,000		160,951
Glendale Industrial Development Authority, Revenue Bonds,
5.00%, 07/01/2038		250,000		274,030
Goodyear McDowell Road Commercial Corridor Improvement District, Special Assessment,
BAM,
3.00%, 01/01/2025		1,200,000		1,289,160
Industrial Development Authority of the City of Phoenix, Revenue Bonds
2.95%, 07/01/2026		2,200,000		2,267,892
3.88%, 07/01/2021 (A)		95,000		96,148
5.00%, 07/01/2036		1,440,000		1,619,021
Series A,
5.00%, 07/01/2043		110,000		131,810
Industrial Development Authority of the County of Pima, Revenue Bonds,
Series R,
2.88%, 07/01/2021		45,000		45,356
La Paz County Industrial Development Authority, Revenue Bonds
4.90%, 06/15/2028 (A)		560,000		584,942
Series A,
5.00%, 02/15/2021 - 02/15/2026 (A)		1,870,000		2,074,359
Maricopa County Elementary School District No. 25, General Obligation Unlimited,
Series A, BAM,
4.00%, 07/01/2024		135,000		151,820
Maricopa County Industrial Development Authority, Revenue Bonds
4.00%, 07/01/2049 - 07/01/2054		3,000,000		3,249,230
Series A,
5.00%, 01/01/2034 - 07/01/2054		1,650,000		1,941,879
Maricopa County Pollution Control Corp., Revenue Bonds,
3.60%, 04/01/2040		1,740,000		1,873,284
Maricopa County Unified School District No. 89, General Obligation Limited,
5.00%, 07/01/2023		40,000		45,140
Tempe Industrial Development Authority, Revenue Bonds,
Series B,
5.35%, 10/01/2025 (A)		1,575,000		1,641,134
Yuma County Elementary School District No. 1, General Obligation Unlimited,
Series B, AGM,
5.00%, 07/01/2027		600,000		758,484
				35,753,547
Arkansas - 0.6%
Little Rock School District, General Obligation Limited
3.00%, 02/01/2026 - 02/01/2030		10,545,000		10,974,297

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California - 14.6%
Acalanes Union High School District, General Obligation Unlimited,
Series C,
Zero Coupon, 08/01/2026		$   235,000		$   215,128
Adelanto Elementary School District Community Facilities District No. 1, Special Tax
BAM,
5.00%, 09/01/2036 - 09/01/2039		3,200,000		4,052,545
Adelanto School District, Special Tax
BAM,
4.00%, 09/01/2035 - 09/01/2036		555,000		628,649
Alameda Corridor Transportation Authority, Revenue Bonds
Series B, AGM,
4.00%, 10/01/2035 - 10/01/2037		2,405,000		2,763,082
Alisal Union School District, General Obligation Unlimited,
Series A, BAM,
Zero Coupon, 08/01/2033		125,000		82,790
Avalon Community Improvement Agency Successor Agency, Tax Allocation
Series A, AGM,
5.00%, 09/01/2024 - 09/01/2026		1,310,000		1,597,943
Baldwin Park / Monrovia School Facilities Grant Financing Authority, Revenue Bonds
AGM,
3.00%, 10/01/2033		60,000		64,572
4.00%, 10/01/2027		185,000		219,395
Beaumont Public Improvement Authority, Revenue Bonds
Series A, AGM,
5.00%, 09/01/2037 - 09/01/2049		9,445,000		11,338,663
Borrego Springs Unified School District, General Obligation Unlimited,
Series A, AGM,
4.00%, 08/01/2044		1,105,000		1,253,733
Calexico Financing Authority, Revenue Bonds,
AGM,
4.00%, 04/01/2024		205,000		226,658
California Health Facilities Financing Authority, Revenue Bonds,
Series B,
5.00%, 11/15/2031		75,000		93,650
California Housing Finance, Revenue Bonds,
Series E, FNMA,
2.50%, 02/01/2038		11,780,000		12,066,961
California Municipal Finance Authority, Revenue Bonds
4.38%, 07/01/2025 (A)		750,000		802,215
5.00%, 07/01/2034 - 01/01/2049		16,400,000		20,079,709
Series A,
4.00%, 10/01/2034 - 10/01/2044		4,715,000		5,304,910
4.50%, 06/01/2028 (A)		200,000		223,510
5.00%, 10/01/2044		1,000,000		1,182,960
California Public Finance Authority, Revenue Bonds,
4.25%, 06/15/2029 (A)		790,000		814,190

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
California School Finance Authority, Revenue Bonds,
Series A,
4.00%, 08/01/2025 (A)		$   350,000		$   390,506
California Statewide Communities Development Authority, Revenue Bonds
Fixed until 04/01/2020, 1.90% (C), 04/01/2028		75,000		75,092
5.00%, 08/01/2034 - 08/01/2038		2,775,000		3,470,755
AGM,
5.00%, 10/01/2026		400,000		474,308
Series A,
3.00%, 11/01/2022 (A)		1,300,000		1,327,131
3.50%, 11/01/2027 (A)		2,630,000		2,868,120
5.00%, 12/01/2025 - 12/01/2029 (A)		775,000		906,872
Series B,
5.00%, 07/01/2030		445,000		531,837
California Statewide Communities Development Authority, Special Assessment
4.00%, 09/02/2028 - 09/02/2044		2,840,000		3,214,162
5.00%, 09/02/2034 - 09/02/2049		1,470,000		1,820,564
Carmichael Water District, Certificate of Participation,
Series A,
4.00%, 11/01/2037		2,280,000		2,729,023
Carson Redevelopment Agency Successor Agency, Tax Allocation,
Series A, AMBAC,
4.75%, 01/01/2036		110,000		110,321
Cascade Union Elementary School District, General Obligation Unlimited
Series B, MAC,
4.00%, 08/01/2034 - 08/01/2039		445,000		507,376
Chaffey Joint Union High School District, General Obligation Unlimited,
Series B,
Zero Coupon, 08/01/2037		1,000,000		516,170
Chowchilla Elementary School District, General Obligation Unlimited,
5.00%, 08/01/2048		850,000		1,005,261
City of Azusa, Special Tax
AGM,
5.00%, 09/01/2044 - 09/01/2049		2,500,000		3,022,550
City of Beaumont, Special Tax,
5.00%, 09/01/2044		345,000		401,504
City of Irvine, Special Tax,
AGM,
5.00%, 09/01/2051		5,010,000		5,992,511
City of Lathrop, Special Assessment
4.00%, 09/02/2021 - 09/02/2022		265,000		278,410
City of Lemoore Water Revenue, Revenue Bonds,
BAM,
5.00%, 06/01/2049		7,500,000		9,087,600
City of Los Angeles Department of Airports, Revenue Bonds,
Series C,
5.00%, 05/15/2038		4,700,000		5,552,533
City of Porterville CA Sewer Revenue, Certificate of Participation,
AGM,
4.00%, 09/15/2049		3,135,000		3,619,169
City of Sacramento, Special Tax
Series 02,
5.00%, 09/01/2044 - 09/01/2049		2,585,000		3,046,853

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
City of San Francisco Public Utilities Commission Water Revenue, Revenue Bonds,
Series B,
5.00%, 11/01/2037		$   75,000		$   88,450
City of Susanville Natural Gas Revenue, Revenue Bonds,
AGM,
4.00%, 06/01/2045		3,320,000		3,790,378
City of Tulare Water Revenue, Revenue Bonds,
AGM,
4.00%, 12/01/2049		700,000		786,261
Coachella Redevelopment Agency Successor Agency, Tax Allocation
AGM,
5.00%, 09/01/2026		70,000		82,192
Series A, AGM,
4.00%, 09/01/2032		110,000		124,974
5.00%, 09/01/2029 - 09/01/2030		670,000		828,377
Colton Joint Unified School District, General Obligation Unlimited
BAM,
4.00%, 02/01/2033		55,000		62,536
5.00%, 02/01/2029		480,000		588,264
Compton Unified School District, General Obligation Unlimited,
Series B, BAM,
4.00%, 06/01/2049		5,855,000		6,563,162
County of El Dorado, Special Tax
BAM,
3.00%, 09/01/2025 - 09/01/2026		260,000		286,879
5.00%, 09/01/2021 - 09/01/2024		1,770,000		2,020,013
County of San Bernardino, Special Tax,
4.00%, 09/01/2047		100,000		106,312
County of Santa Cruz, Certificate of Participation,
4.00%, 08/01/2033		75,000		86,674
Coyote Canyon Public Facilities Community Facilities District No. 2004-1, Special Tax,
Series A, AGM,
4.00%, 09/01/2029		60,000		67,530
Department of Veterans Affairs Veteran’s Farm & Home Purchase Program, Revenue Bonds
Series B,
3.00%, 12/01/2031		5,400,000		5,747,328
3.25%, 12/01/2036		5,300,000		5,658,863
Dry Creek Joint Elementary School District, Special Tax,
AGM,
5.00%, 09/01/2024		140,000		167,009
Durham Unified School District, General Obligation Unlimited
Series A, AGM,
4.00%, 08/01/2037 - 08/01/2039		710,000		799,600
Elk Grove Unified School District, Certificate of Participation
BAM,
5.00%, 02/01/2027 - 02/01/2028		2,270,000		2,785,558
Etiwanda School District, Special Tax
Series 2,
2.00%, 09/01/2020		50,000		50,240
3.00%, 09/01/2021 - 09/01/2022		185,000		190,711
3.50%, 09/01/2023		75,000		78,026

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
Fairfield-Suisun Unified School District Public Financing Authority, Special Tax
BAM,
2.25%, 08/15/2021 - 08/15/2023		$   6,195,000		$   6,242,149
Folsom Cordova Unified School District, General Obligation Unlimited,
Series D, AGM,
4.00%, 10/01/2044		44,890,000		50,144,374
Fresno Unified School District, General Obligation Unlimited,
Series A,
5.00%, 08/01/2038		1,000,000		1,217,190
Golden State Tobacco Securitization Corp., Revenue Bonds
Series A, AGM,
5.00%, 06/01/2040		1,000,000		1,175,530
Series A-1,
5.00%, 06/01/2023 - 06/01/2047		15,895,000		16,939,352
5.25%, 06/01/2047		3,580,000		3,773,213
Series A-2,
5.00%, 06/01/2047		14,000,000		14,669,060
Hacienda La Puente Unified School District, Certificate of Participation,
AGM,
5.00%, 06/01/2024		190,000		223,351
Heber Elementary School District, General Obligation Unlimited
Series A, MAC,
4.00%, 08/01/2035 - 08/01/2038		360,000		406,613
Konocti Unified School District, General Obligation Unlimited,
AGM,
5.00%, 08/01/2042		740,000		873,200
Lynwood Unified School District, General Obligation Unlimited
Series B, BAM,
4.00%, 08/01/2045 - 08/01/2049		5,125,000		5,830,431
Menifee Union School District Public Financing Authority, Special Tax
Series A,
5.00%, 09/01/2023		425,000		481,899
Series A, BAM,
5.00%, 09/01/2029 - 09/01/2034		1,240,000		1,474,605
Monterey Peninsula Community College District, General Obligation Unlimited,
Zero Coupon, 08/01/2032		220,000		159,584
Oakdale Public Financing Authority, Special Tax,
2.63%, 09/01/2022		110,000		112,633
Peralta Community College District, General Obligation Unlimited
Series D,
3.50%, 08/01/2032 - 08/01/2034		6,120,000		6,642,065
Pittsburg Successor Agency Redevelopment Agency, Tax Allocation,
Series A, AGM,
5.00%, 09/01/2022		425,000		468,095
Pollock Pines Elementary School District, General Obligation Unlimited,
MAC,
4.00%, 08/01/2049		1,565,000		1,731,719
Rancho Cucamonga Public Finance Authority, Revenue Bonds,
Series A,
5.00%, 05/01/2034		695,000		911,298

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
Rio Elementary School District Community Facilities District, Special Tax
BAM,
5.00%, 09/01/2029 - 09/01/2032		$   1,505,000		$   1,840,619
Riverside Redevelopment Agency Successor Agency, Tax Allocation,
Series A,
5.00%, 09/01/2020		115,000		117,887
Robla School District, General Obligation Unlimited
AGM,
4.00%, 08/01/2037 - 08/01/2038		1,075,000		1,245,230
5.00%, 08/01/2044		1,720,000		2,089,026
Roseland School District, General Obligation Unlimited,
Series C, MAC,
5.00%, 08/01/2046		260,000		321,116
San Bernardino County Redevelopment Agency Successor Agency, Tax Allocation
Series B, AGM,
5.00%, 09/01/2025 - 09/01/2026		330,000		402,270
San Diego Public Facilities Financing Authority, Revenue Bonds,
Series A,
5.00%, 10/15/2044		365,000		432,372
San Diego Unified School District, General Obligation Unlimited,
Series K-2,
Zero Coupon, 07/01/2030		1,350,000		1,076,665
Sanger Unified School District, Certificate of Participation,
AGM,
3.13%, 06/01/2033		75,000		81,136
Santa Clarita Redevelopment Agency Successor Agency, Tax Allocation,
AGM,
5.00%, 10/01/2023		435,000		497,249
Snowline Joint Unified School District, Special Tax,
Series A,
3.00%, 09/01/2022		280,000		290,058
South Tahoe Redevelopment Agency, Special Tax,
Series 1,
3.38%, 10/01/2021		110,000		112,674
State of California, General Obligation Unlimited,
5.00%, 04/01/2038		7,000,000		8,098,300
Stockton Public Financing Authority, Special Tax,
Series A, BAM,
4.00%, 09/02/2030		1,310,000		1,511,936
Successor Agency to the Upland Community Redevelopment Agency, Tax Allocation,
AGM,
5.00%, 09/01/2022		50,000		55,327
Sutter Union High School District, General Obligation Unlimited,
BAM,
Zero Coupon, 08/01/2028		140,000		116,680
Tahoe-Truckee Unified School District, Certificate of Participation,
BAM,
4.00%, 06/01/2043		1,000,000		1,119,450

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
California (continued)
Tobacco Securitization Authority of Northern California, Revenue Bonds,
Series A-1,
4.75%, 06/01/2023		$   20,000		$   20,219
Upland Community Facilities District, Special Tax,
Series A,
4.00%, 09/01/2049		750,000		826,883
Vacaville Unified School District, Certificate of Participation,
AGM,
4.00%, 12/01/2024		105,000		120,833
Washington Township Health Care District, General Obligation Unlimited
Series DT,
4.00%, 08/01/2034 - 08/01/2036		1,585,000		1,820,085
West Kern Community College District, Certificate of Participation
AGM,
4.00%, 11/01/2040 - 11/01/2044		1,390,000		1,580,216
Whittier Union High School District, General Obligation Unlimited,
Zero Coupon, 08/01/2026		950,000		876,403
Wilsona School District, General Obligation Unlimited,
Series A, AGM,
4.00%, 08/01/2044		500,000		552,300
				283,600,523
Colorado - 2.5%
BNC Metropolitan District No. 1, General Obligation Limited,
Series A, BAM,
5.00%, 12/01/2032		360,000		440,600
Bradburn Metropolitan District No. 2, General Obligation Limited,
Series A,
4.00%, 12/01/2028		500,000		513,200
Brighton Crossing Metropolitan District No. 4, General Obligation Limited,
Series A,
5.00%, 12/01/2037		525,000		559,377
Bromley Park Metropolitan District No. 2, General Obligation Limited
Series A, BAM,
5.00%, 12/01/2031 - 12/01/2032		460,000		576,164
Castle Oaks Metropolitan District No. 3, General Obligation Limited,
5.00%, 12/01/2037		1,500,000		1,551,555
City of Arvada, Certificate of Participation
4.00%, 12/01/2032 - 12/01/2033		1,080,000		1,224,087
Colorado Educational & Cultural Facilities Authority, Revenue Bonds
4.00%, 07/01/2020 - 08/01/2026		420,000		470,551
5.00%, 06/15/2029 - 08/01/2031		1,590,000		1,893,407
Series A,
5.00%, 06/01/2036		540,000		633,587
Colorado Health Facilities Authority, Revenue Bonds
4.00%, 05/15/2029		1,960,000		2,314,427
Series A,
4.00%, 08/01/2049		2,000,000		2,222,480
4.25%, 11/01/2024		1,620,000		1,700,806
5.00%, 12/01/2033		100,000		113,415
Series B,
3.13%, 05/15/2027		1,250,000		1,252,712
5.00%, 05/15/2021 - 05/15/2026		2,815,000		3,050,061

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Colorado (continued)
Colorado Housing & Finance Authority, Revenue Bonds
GNMA,
3.38%, 11/01/2033		$   1,215,000		$   1,313,087
3.60%, 11/01/2038		1,985,000		2,141,061
Series C, GNMA,
2.75%, 05/01/2028		355,000		385,750
2.80%, 11/01/2028		275,000		299,200
Denver Health & Hospital Authority, Revenue Bonds,
Series A,
4.00%, 12/01/2040		750,000		850,942
Erie Commons Metropolitan District No. 2, General Obligation Limited,
Series A, AGM,
4.00%, 12/01/2039		1,300,000		1,485,367
Heather Gardens Metropolitan District, General Obligation Unlimited
AGM,
4.00%, 12/01/2024 - 12/01/2032		2,220,000		2,624,746
Meridian Metropolitan District, General Obligation Unlimited,
AGM,
5.00%, 12/01/2042		15,000		18,225
North Park Metropolitan District No. 1, Revenue Bonds,
Series A-2,
5.50%, 12/01/2034		1,000,000		1,077,960
Northglenn Urban Renewal Authority, Tax Allocation
4.00%, 12/01/2024 - 12/01/2038		2,740,000		2,994,211
Park Creek Metropolitan District, Revenue Bonds
Series A,
5.00%, 12/01/2032 - 12/01/2037		1,205,000		1,409,399
Series A, NATL-IBC,
5.00%, 12/01/2045		1,220,000		1,409,771
Park Creek Metropolitan District, Revenue Bonds,
Series A, AGM,
4.00%, 12/01/2046		7,000,000		8,030,400
Sand Creek Metropolitan District, General Obligation Limited
MAC,
4.00%, 12/01/2032 - 12/01/2034		1,475,000		1,721,736
Silver Peaks Metropolitan District No. 2, General Obligation Limited
BAM,
5.00%, 12/01/2037 - 12/01/2042		1,520,000		1,840,200
South Sloan’s Lake Metropolitan District No. 2, General Obligation Limited,
AGM,
4.00%, 12/01/2044		500,000		559,875
Vauxmont Metropolitan District, General Obligation Limited,
AGM,
3.25%, 12/15/2050		2,000,000		2,101,100
				48,779,459
Connecticut - 1.4%
City of Bridgeport, General Obligation Unlimited,
Series C, AGM,
5.00%, 08/15/2024		1,275,000		1,485,757

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Connecticut (continued)
City of Hartford, General Obligation Unlimited
Series A,
5.00%, 04/01/2030		$   20,000		$   21,579
Series A, AGM,
5.00%, 07/01/2025 - 07/01/2032		460,000		552,783
Series A, BAM,
4.00%, 12/01/2027		515,000		601,093
5.00%, 12/01/2022 - 12/01/2026		11,535,000		13,891,104
Series A, BAM-TCRS,
5.00%, 04/01/2025		765,000		826,430
Series B, AGM,
5.00%, 10/01/2032		100,000		115,742
Series C, AGM,
5.00%, 07/15/2023		900,000		1,022,499
Series C, BAM,
5.00%, 08/15/2021		320,000		339,546
City of New Haven, General Obligation Unlimited
Series A,
5.50%, 08/01/2034 - 08/01/2038		1,855,000		2,272,967
Series A, BAM-TCRS,
5.00%, 08/01/2037		635,000		758,431
Series B, BAM,
5.00%, 08/15/2025		40,000		47,954
Connecticut Housing Finance Authority, Revenue Bonds
Series 24,
3.80%, 06/15/2031		370,000		410,541
3.90%, 06/15/2033		405,000		448,408
Series A-1,
3.10%, 05/15/2028		2,015,000		2,201,508
Series B-1,
2.40%, 11/15/2026		90,000		95,129
Series B3,
2.40%, 05/15/2026		55,000		58,270
Connecticut State Health & Educational Facilities Authority, Revenue Bonds
Series G,
4.00%, 07/01/2020		100,000		101,190
Series J,
5.00%, 07/01/2034 - 07/01/2037		720,000		770,680
State of Connecticut, General Obligation Unlimited,
Series B,
4.00%, 03/01/2029		25,000		26,866
State of Connecticut Special Tax Revenue, Revenue Bonds,
Series A,
5.00%, 08/01/2022		15,000		16,481
Town of Hamden, General Obligation Unlimited,
BAM,
6.00%, 08/15/2033		1,190,000		1,558,579
				27,623,537
Delaware - 0.3%
Delaware Municipal Electric Corp., Revenue Bonds
Series A, BAM,
5.00%, 10/01/2035 - 10/01/2044		3,135,000		3,886,456

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Delaware (continued)
Delaware State Economic Development Authority, Revenue Bonds
5.00%, 08/01/2049		$   900,000		$   1,047,258
5.38%, 10/01/2045		80,000		81,792
				5,015,506
District of Columbia - 0.6%
District of Columbia, Revenue Bonds
4.00%, 07/01/2049		1,000,000		1,103,490
Series A,
4.13%, 07/01/2027		1,000,000		1,056,920
5.00%, 07/01/2032		1,500,000		1,644,045
Series B,
3.88%, 07/01/2024		1,500,000		1,500,315
Series C,
4.00%, 12/01/2021		25,000		26,427
District of Columbia Housing Finance Agency, Revenue Bonds,
Series A,
3.70%, 09/01/2033		2,010,000		2,223,321
District of Columbia Water & Sewer Authority, Revenue Bonds
Series A,
5.00%, 10/01/2023		25,000		27,713
Series C,
4.00%, 10/01/2020		120,000		122,483
Metropolitan Washington Airports Authority, Revenue Bonds,
Series A,
5.00%, 10/01/2020		25,000		25,678
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Revenue Bonds
5.00%, 10/01/2053		505,000		539,699
AGM,
4.00%, 10/01/2053		1,500,000		1,697,265
Series B, AGM-CR,
6.50% (D), 10/01/2044		1,050,000		1,422,277
				11,389,633
Florida - 4.9%
Board of Governors State University System of Florida, Revenue Bonds,
Series B,
5.00%, 07/01/2020		140,000		142,362
Bridgewater Community Development District, Special Assessment,
4.50%, 05/01/2031		25,000		28,022
Cape Coral Health Facilities Authority, Revenue Bonds
4.00%, 07/01/2020 (A)		360,000		361,508
4.25%, 07/01/2021 (A)		435,000		442,373
Capital Trust Agency, Inc., Revenue Bonds
3.50%, 07/01/2020 - 07/01/2022 (A)		1,885,000		1,912,834
City of Cape Coral Water & Sewer Revenue, Special Assessment
AGM,
2.13%, 09/01/2022		90,000		91,413
2.75%, 09/01/2025 - 09/01/2026		460,000		492,841
City of Fort Myers, Revenue Bonds
4.00%, 12/01/2032 - 12/01/2033		735,000		818,738
City of Jacksonville, Revenue Bonds
Series A,
5.00%, 10/01/2030		1,000,000		1,220,760
Series C,
5.00%, 10/01/2031		100,000		109,769

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Florida (continued)
City of Miami Gardens, General Obligation Unlimited,
BAM-TCRS,
5.00%, 07/01/2031		$   1,775,000		$   2,054,598
City of North Port, Special Assessment,
BAM,
5.00%, 07/01/2020		90,000		91,485
City of Orlando, Revenue Bonds
Series A, AGM,
5.00%, 11/01/2027 - 11/01/2029		4,080,000		5,180,252
Series B, AGM,
5.00%, 11/01/2025 - 11/01/2038		7,930,000		9,743,142
City of Pompano Beach, Revenue Bonds,
4.00%, 09/01/2020		315,000		319,999
City of Tallahassee, Revenue Bonds,
5.00%, 10/01/2023		55,000		60,923
City of Tampa, Revenue Bonds,
Series A,
5.00%, 11/15/2025		25,000		27,226
Columbia County School Board, Certificate of Participation,
Series A, BAM,
5.00%, 07/01/2026		440,000		526,438
County of Lake, Revenue Bonds
5.00%, 01/15/2029 - 01/15/2049 (A)		1,750,000		1,947,551
County of Miami-Dade Water & Sewer System Revenue, Revenue Bonds
Series B,
4.00%, 10/01/2049		20,000,000		22,857,000
5.00%, 10/01/2044		1,000,000		1,252,670
County of Polk Utility System Revenue, Revenue Bonds,
BAM,
5.00%, 10/01/2043		10,000,000		11,271,200
Florida Department of Environmental Protection, Revenue Bonds,
Series A,
5.00%, 07/01/2022		55,000		60,443
Florida Higher Educational Facilities Financial Authority, Revenue Bonds,
5.00%, 04/01/2035		1,050,000		1,221,801
Florida Housing Finance Corp., Revenue Bonds
Series 1, GNMA, FNMA, FHLMC,
2.10%, 07/01/2028		525,000		543,139
2.20%, 01/01/2023		125,000		128,769
2.25%, 07/01/2023		105,000		108,333
2.30%, 01/01/2024		275,000		285,483
2.35%, 07/01/2024		455,000		475,461
2.45%, 01/01/2025		375,000		394,579
2.50%, 07/01/2025		440,000		465,036
2.65%, 01/01/2026		450,000		477,540
2.70%, 07/01/2026		225,000		240,032
2.75%, 01/01/2027		445,000		477,080
2.80%, 07/01/2027		445,000		477,227
2.85%, 01/01/2028		150,000		161,418
2.90%, 07/01/2028		345,000		371,686
3.75%, 07/01/2035		2,345,000		2,507,743
Florida Keys Aqueduct Authority, Revenue Bonds
Series A,
5.00%, 09/01/2041 - 09/01/2049		2,250,000		2,633,245
Hillsborough County School Board, Revenue Bonds,
AGM,
5.00%, 10/01/2020		390,000		400,362

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Florida (continued)
Lee County Industrial Development Authority, Revenue Bonds
5.00%, 11/15/2039 - 11/15/2044		$   3,500,000		$   4,095,440
Manatee County School District, Revenue Bonds,
AGM,
5.00%, 10/01/2021		50,000		53,418
Martin County Health Facilities Authority, Revenue Bonds,
AGM-CR,
5.50%, 11/15/2042		15,000		16,180
North Sumter County Utility Dependent District, Revenue Bonds
5.00%, 10/01/2042		100,000		107,265
BAM,
5.00%, 10/01/2036 - 10/01/2037		500,000		643,323
Orange County Health Facilities Authority, Revenue Bonds
Series A,
5.00%, 10/01/2033 - 10/01/2034		8,200,000		9,932,833
Series B,
5.00%, 10/01/2044		200,000		235,910
Orange County Housing Finance Authority, Revenue Bonds,
Series A, GNMA, FNMA, FHLMC,
3.15%, 09/01/2032		435,000		462,757
St. Johns County Industrial Development Authority, Revenue Bonds,
Series A,
Fixed until 08/01/2024, 4.13% (C), 08/01/2047		1,000,000		1,023,720
Tradition Community Development District No. 1, Special Assessment
AGM,
3.50%, 05/01/2020		1,325,000		1,332,990
4.00%, 05/01/2023		275,000		299,549
Village Community Development District No. 12, Special Assessment
3.25%, 05/01/2023 (A)		300,000		306,987
3.25%, 05/01/2026		2,460,000		2,556,309
Volusia County School Board, Certificate of Participation
Series A, BAM,
5.00%, 08/01/2027 - 08/01/2028		570,000		689,645
Walton County District School Board, Certificate of Participation,
AGM,
5.00%, 07/01/2026		370,000		435,716
				94,574,523
Georgia - 1.5%
Atlanta Development Authority
5.00%, 07/01/2020		150,000		152,507
Bibb County Development Authority, Revenue Bonds,
5.25%, 06/01/2050		5,720,000		7,117,053
City of East Point, Tax Allocation,
3.00%, 08/01/2022		1,000,000		1,022,460
Cornelia Urban Redevelopment Agency, Revenue Bonds,
AGM,
5.00%, 10/01/2054		1,440,000		1,731,888
Development Authority for Fulton County, Revenue Bonds,
4.00%, 07/01/2049		6,460,000		7,288,495

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Georgia (continued)
Floyd County School District, General Obligation Unlimited,
5.00%, 07/01/2020		$   100,000		$   101,654
Georgia Housing & Finance Authority, Revenue Bonds
Series A-1,
3.20%, 12/01/2036		690,000		725,942
3.25%, 12/01/2037		1,320,000		1,384,838
Series B,
3.40%, 12/01/2037		2,285,000		2,448,469
Series C,
2.85%, 06/01/2028 - 12/01/2028		570,000		616,274
Main Street Natural Gas, Inc., Revenue Bonds,
Series A,
5.00%, 05/15/2049		5,000,000		7,151,600
Metropolitan Atlanta Rapid Transit Authority, Revenue Bonds,
Series A, NATL,
5.00%, 07/01/2020		100,000		101,691
State of Georgia, General Obligation Unlimited,
Series I,
4.00%, 07/01/2020		25,000		25,321
				29,868,192
Guam - 0.0% (E)
Guam Government Waterworks Authority, Revenue Bonds
5.00%, 07/01/2023 - 07/01/2031		335,000		392,197
Guam Power Authority, Revenue Bonds
Series A,
5.00%, 10/01/2034		100,000		108,209
Series A, AGM,
5.00%, 10/01/2026		200,000		220,042
				720,448
Idaho - 0.3%
County of Nez Perce, Revenue Bonds,
2.75%, 10/01/2024		4,500,000		4,702,455
Idaho Health Facilities Authority, Revenue Bonds,
Series D,
5.00%, 12/01/2032		50,000		54,657
Idaho Housing & Finance Association, Revenue Bonds
5.00%, 07/15/2020		285,000		290,124
Series A,
4.00%, 07/01/2026		280,000		299,838
4.63%, 07/01/2029 (A)		185,000		204,627
Series A-1, Class I,
2.75%, 07/01/2031		335,000		339,194
				5,890,895
Illinois - 14.4%
Adams County School District No. 172, General Obligation Unlimited
AGM,
3.00%, 02/01/2033		300,000		312,492
4.00%, 02/01/2032 - 02/01/2035		3,250,000		3,564,936
5.00%, 02/01/2029		1,345,000		1,590,113

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Berwyn Municipal Securitization Corp., Revenue Bonds,
AGM-CR,
5.00%, 01/01/2035		$   8,230,000		$   10,167,589
Boone & Winnebago Counties Community Unit School District No. 200, General Obligation Unlimited
AGM,
Zero Coupon, 01/01/2023		2,705,000		2,600,825
Carol Stream Park District, General Obligation Unlimited,
BAM,
5.00%, 01/01/2037		1,375,000		1,622,761
Champaign & Piatt Counties Community Unit School District No. 3, General Obligation Unlimited
Series A, AGM,
5.00%, 10/01/2022 - 10/01/2024		4,910,000		5,532,572
Chicago Board of Education, General Obligation Unlimited
Series A,
4.00%, 12/01/2020		3,245,000		3,305,032
Series A, AGM-CR, AMBAC,
5.50%, 12/01/2021		410,000		437,335
Series A, AGM-CR, NATL,
5.25%, 12/01/2021		150,000		159,330
Series A, NATL,
Zero Coupon, 12/01/2022		25,000		23,791
Chicago O’Hare International Airport, Revenue Bonds
BAM-TCRS,
5.00%, 01/01/2039		25,000		27,659
Series B,
5.00%, 01/01/2021		150,000		155,537
Chicago Transit Authority, Revenue Bonds,
AGM-CR,
5.00%, 12/01/2051		25,000		29,132
City of Calumet City, General Obligation Unlimited
BAM,
4.00%, 03/01/2020 - 03/01/2024		2,335,000		2,518,927
Series A, BAM,
4.00%, 03/01/2022		945,000		994,310
City of Chicago, General Obligation Unlimited
Series A,
5.50%, 01/01/2049		2,750,000		3,338,747
Series A, AGM,
4.75%, 01/01/2030 - 01/01/2038		145,000		145,248
5.00%, 01/01/2026 - 01/01/2027		160,000		160,291
Series C,
5.00%, 01/01/2026 - 01/01/2034		3,030,000		3,529,559
City of Chicago Wastewater Transmission Revenue, Revenue Bonds
AGM-CR,
3.00%, 01/01/2021		750,000		763,388
5.00%, 01/01/2022 - 01/01/2024		700,000		751,688
BAM-TCRS,
3.00%, 01/01/2021		475,000		483,740
Series A, AGM,
5.25%, 01/01/2042		675,000		806,281
City of Chicago Waterworks Revenue, Revenue Bonds
4.00%, 11/01/2023		500,000		535,455
5.00%, 11/01/2021 - 11/01/2028		3,500,000		3,771,475
AGM-CR,
5.00%, 11/01/2027		140,000		153,412
Series A-1,
5.00%, 11/01/2024		5,000,000		5,803,700

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
City of Country Club Hills, General Obligation Unlimited
BAM,
4.00%, 12/01/2028 - 12/01/2031		$   1,240,000		$   1,390,053
4.50%, 12/01/2030 - 12/01/2031		1,295,000		1,412,235
City of East Peoria, General Obligation Unlimited,
Series A, AGM,
4.20%, 01/01/2028		200,000		205,992
City of Flora, General Obligation Unlimited
BAM,
3.50%, 11/01/2022 - 11/01/2024		585,000		620,170
City of Kankakee, General Obligation Unlimited,
Series A, AGM,
4.00%, 01/01/2027		675,000		748,082
City of Monmouth, General Obligation Unlimited,
Series B, BAM,
3.00%, 12/01/2023		130,000		138,892
City of North Chicago, General Obligation Unlimited
Series A, AGM,
4.00%, 11/01/2020		160,000		163,259
Series B, AGM,
4.00%, 11/01/2023		40,000		43,768
City of Sterling, General Obligation Unlimited,
AGM,
3.00%, 12/01/2024		140,000		150,095
City of Waukegan, General Obligation Unlimited
Series A, AGM,
5.00%, 12/30/2035 - 12/30/2036		2,220,000		2,637,820
Series B, AGM,
5.00%, 12/30/2030 - 12/30/2032		2,120,000		2,543,694
Clinton Bond Fayette Etc. Counties Community College District No. 501, General Obligation Unlimited
BAM-TCRS,
4.00%, 12/01/2026 - 12/01/2027		3,955,000		4,126,132
Cook & Will Counties Community College District No. 515, General Obligation Limited,
5.00%, 12/01/2024		70,000		80,526
Cook & Will Counties School District No. 194, General Obligation Limited,
Series B, BAM,
5.00%, 12/01/2033		775,000		890,041
Cook & Will Counties School District No. 194, General Obligation Unlimited,
BAM,
4.13%, 12/01/2035		930,000		999,387
Cook County Community College District No. 508, General Obligation Unlimited
5.00%, 12/01/2020 - 12/01/2024		1,445,000		1,586,124
BAM-TCRS,
5.25%, 12/01/2027		1,825,000		2,076,175
Cook County Community High School District No. 229, General Obligation Limited,
4.00%, 12/01/2023		1,505,000		1,665,854
Cook County Community High School District No. 233
3.00%, 12/01/2020		100,000		101,688

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Cook County School District No. 100, General Obligation Unlimited,
BAM,
4.00%, 12/01/2021		$   430,000		$   452,945
Cook County School District No. 111, General Obligation Limited,
Series A, BAM,
5.00%, 12/01/2037		2,350,000		2,823,830
Cook County School District No. 111, General Obligation Unlimited,
AGM,
4.00%, 12/01/2034		1,000,000		1,125,830
Cook County School District No. 149, General Obligation Limited,
Series A-1, AGM,
4.00%, 12/01/2028		980,000		1,068,729
Cook County School District No. 157, General Obligation Unlimited
Series A, AGM,
Zero Coupon, 11/01/2021 - 11/01/2025		1,420,000		1,325,592
Cook County School District No. 158, General Obligation Limited,
AGM,
3.00%, 12/01/2021		325,000		336,183
Cook County School District No. 162, General Obligation Limited,
AGM,
4.00%, 12/01/2027		250,000		255,348
Cook County School District No. 163, General Obligation Limited,
Series A, AGM,
5.00%, 12/15/2028		70,000		75,319
Cook County School District No. 31, General Obligation Limited
Series A,
3.00%, 12/01/2021		100,000		102,937
Cook County Township High School District No. 201, General Obligation Limited,
Series C, AGM,
Zero Coupon, 12/01/2024		100,000		91,994
Cook County Township High School District No. 220, General Obligation Limited
AGM-CR,
5.00%, 12/01/2025		700,000		796,600
BAM-TCRS,
5.00%, 12/01/2026		1,545,000		1,755,460
County of Cook, General Obligation Unlimited,
Series C, AGM-CR,
5.00%, 11/15/2024		1,500,000		1,655,520
County of Union, General Obligation Unlimited,
AGM,
4.25%, 09/01/2042		1,665,000		1,925,672
DeKalb & Kane Counties Community Unit School District No. 427, General Obligation Unlimited,
Series A, BAM-TCRS,
4.00%, 02/01/2030		2,060,000		2,162,485
Douglas & Champaign Counties Community Unit School District No. 302, General Obligation Unlimited,
Series B, AGM,
4.00%, 12/01/2034		785,000		880,056

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
DuPage County School District No. 2, General Obligation Unlimited,
4.00%, 05/01/2037 (F)		$   500,000		$   573,505
Grundy County School District No. 54, General Obligation Unlimited,
AGM-CR,
6.00%, 12/01/2024		2,050,000		2,228,739
Henry & Whiteside Counties Community Unit School District No. 228, General Obligation Unlimited,
Series A, AGM,
5.00%, 08/15/2028		150,000		176,675
Illinois Development Finance Authority, Revenue Bonds,
AGM,
Zero Coupon, 01/01/2021		30,000		29,703
Illinois Finance Authority
Series A,
4.00%, 11/01/2023		405,000		424,930
5.00%, 11/01/2025		440,000		491,489
Illinois Finance Authority, Revenue Bonds
4.00%, 08/01/2032		675,000		730,721
5.00%, 08/01/2025 - 08/01/2031		3,975,000		4,742,782
AGM,
4.00%, 12/01/2023		140,000		153,255
5.00%, 12/01/2036		1,900,000		2,224,330
Series A,
5.00%, 07/01/2020 - 11/15/2037		2,570,000		2,670,407
Series A-1,
3.50%, 12/01/2027 (G)		945,000		444,150
Series A-2,
Fixed until 02/12/2020, 5.00% (C), 11/01/2030		150,000		150,135
Series C,
5.00%, 05/15/2020 - 08/15/2021		170,000		173,682
Illinois Housing Development Authority, Revenue Bonds
FNMA,
2.63%, 09/01/2032		1,487,328		1,533,331
Series A-1,
3.00%, 02/01/2022		340,000		351,890
Illinois State Toll Highway Authority, Revenue Bonds
Series A,
4.50%, 12/01/2020		250,000		257,335
Series B,
5.00%, 01/01/2037		140,000		166,873
Series D,
5.00%, 01/01/2024		45,000		51,832
Iroquois & Kankakee Counties Community Unit School District No. 4, General Obligation Unlimited,
Series A, AMBAC, BAM-TCRS,
Zero Coupon, 11/01/2022		1,300,000		1,244,698
Jackson County Community Unit School District No. 186, General Obligation Unlimited
AGM,
4.00%, 12/01/2036 - 12/01/2038		655,000		729,009
Jersey & Greene County Community Unit School District No. 100, General Obligation Unlimited
Series A, BAM,
5.00%, 12/01/2026 - 12/01/2027		4,040,000		4,778,121

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Joliet Regional Port District, General Obligation Unlimited,
Series A, AGM,
4.00%, 12/30/2024		$   250,000		$   278,275
Kane Cook & DuPage Counties School District No. U-46, General Obligation Limited,
Series A,
5.00%, 01/01/2033		260,000		293,363
Kane Cook & DuPage Counties School District No. U-46, General Obligation Unlimited
Series D,
5.00%, 01/01/2025 - 01/01/2026		130,000		148,815
Kane County School District No. 129, General Obligation Unlimited
Series C, BAM-TCRS,
4.00%, 02/01/2022		1,200,000		1,266,240
5.00%, 02/01/2024 - 02/01/2025		5,000,000		5,855,307
Kane Kendall Etc. Counties Community College District No. 516, General Obligation Unlimited,
Series A,
5.00%, 12/15/2022		100,000		107,623
Knox & Warren Counties Community Unit School District No. 205, General Obligation Unlimited,
Series B,
3.50%, 01/01/2027		185,000		198,470
La Salle & Livingston Counties Township High School District No. 40, General Obligation Unlimited,
AGM,
4.00%, 12/01/2036		315,000		362,956
Lake & McHenry Counties Community Unit School District No. 118, General Obligation Unlimited
5.00%, 01/01/2021 - 01/01/2022		105,000		110,740
Lake County Community Unit School District No. 116, General Obligation Limited,
Series B,
3.00%, 01/15/2023		105,000		110,509
Lake County School District No. 38, General Obligation Unlimited,
BAM-TCRS,
3.00%, 02/01/2022		2,500,000		2,572,950
Lee & Ogle Counties Community Unit School District No. 275, General Obligation Unlimited
Series B, AGM,
4.50%, 12/01/2025 - 12/01/2027		1,085,000		1,183,901
Macon & De Witt Counties Community Unit School District No. 2, General Obligation Unlimited
Series C, BAM,
3.25%, 12/01/2023		1,195,000		1,279,988
3.50%, 12/01/2024		1,270,000		1,396,047
4.00%, 12/01/2025		1,360,000		1,565,319
Macoupin Sangamon & Montgomery Counties Community Unit School District, General Obligation Unlimited
BAM,
4.50%, 12/01/2036 - 12/01/2041		1,625,000		1,769,393

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Madison & Jersey Counties Unit School District No. 11, General Obligation Unlimited,
Series B, BAM,
3.50%, 03/01/2029		$   1,700,000		$   1,815,991
Madison Bond Etc. Counties Community Unit School District No. 5, General Obligation Unlimited,
Series A, AGM,
4.00%, 02/01/2025		410,000		458,130
Madison-Macoupin Etc. Counties Community College District No. 536, General Obligation Unlimited
5.00%, 11/01/2021		105,000		111,818
Series A, AGM,
5.00%, 11/01/2031 - 11/01/2033		3,450,000		4,097,984
Series A, BAM-TCRS,
5.00%, 11/01/2022 - 11/01/2026		4,990,000		5,682,086
McHenry & Kane Counties Community Consolidated School District No. 158, General Obligation Unlimited,
AGM-CR, FGIC,
Zero Coupon, 01/01/2024		510,000		477,600
McHenry County Community Unit School District No. 12, General Obligation Unlimited
BAM,
5.00%, 01/01/2035		2,625,000		2,994,075
Series A, AGM,
5.00%, 01/01/2023		70,000		76,856
McHenry County Conservation District, General Obligation Unlimited,
5.00%, 02/01/2026		110,000		131,626
McLean County Public Building Commission, Revenue Bonds,
4.00%, 12/01/2034		1,245,000		1,360,349
Metropolitan Pier & Exposition Authority, Revenue Bonds
5.50%, 06/15/2050		745,000		757,330
BAM-TCRS,
5.00%, 06/15/2052		500,000		570,155
NATL,
5.70% (D), 06/15/2023		165,000		186,518
Series A, NATL,
Zero Coupon, 06/15/2026		100,000		88,131
Series B,
5.00%, 12/15/2028		145,000		155,399
Series B, AGM,
5.00%, 06/15/2050		3,295,000		3,344,161
Series B2, BAM-TCRS,
5.25%, 06/15/2050		440,000		446,965
Montgomery Christian & Fayette Counties Community Unit School District No. 22, General Obligation Unlimited,
Series A, AGM,
4.00%, 12/01/2032		270,000		301,023
Northeastern Illinois University, Certificate of Participation
AGM,
3.00%, 07/01/2020 - 07/01/2023		2,065,000		2,117,520
4.00%, 07/01/2025		565,000		630,783
Northeastern Illinois University, Revenue Bonds
Series 1, BAM,
3.00%, 07/01/2020		125,000		126,005
4.00%, 07/01/2021 - 07/01/2022		1,015,000		1,073,670

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Northern Illinois University, Certificate of Participation,
AGM,
5.00%, 09/01/2024		$   105,000		$   120,803
Northlake Public Library District, General Obligation Unlimited,
AGM,
3.00%, 12/01/2021		610,000		630,990
Peoria Public Building Commission, Revenue Bonds,
BAM,
5.00%, 12/01/2022		1,075,000		1,187,725
Pulaski Massac Alexander & Johnson Counties Community Unit School District No. 10, General Obligation Unlimited
Series C, MAC,
4.00%, 12/01/2026 - 12/01/2029		625,000		687,509
Railsplitter Tobacco Settlement Authority, Revenue Bonds
5.25%, 06/01/2020 - 06/01/2021		185,000		189,478
5.38%, 06/01/2021		85,000		89,697
6.00%, 06/01/2028		75,000		80,036
Regional Transportation Authority, Revenue Bonds,
Series A, NATL,
5.50%, 07/01/2025		65,000		79,656
Rock Island County Public Building Commission, Revenue Bonds
AGM,
3.00%, 12/01/2021		175,000		179,547
4.00%, 12/01/2023		285,000		311,428
5.00%, 12/01/2024 - 12/01/2041		1,725,000		2,054,704
Sangamon County Community Unit School District No. 5, General Obligation Unlimited,
Series B,
5.00%, 01/01/2023		150,000		165,956
Southern Illinois University, Certificate of Participation,
Series A-1, BAM,
4.00%, 02/15/2026		455,000		503,712
Southern Illinois University, Revenue Bonds
Series A, AGM,
5.50%, 04/01/2023		370,000		418,740
Series B, BAM-TCRS,
5.00%, 04/01/2021		435,000		453,849
Southwestern Illinois Development Authority, Revenue Bonds,
Series B, BAM-TCRS,
5.00%, 10/15/2026		1,000,000		1,182,990
St. Clair County Community Consolidated School District No. 90, General Obligation Unlimited
AMBAC, BAM-TCRS,
Zero Coupon, 12/01/2020 - 12/01/2023		1,645,000		1,565,998
St. Clair County High School District No. 201, General Obligation Unlimited,
Series B, BAM,
5.00%, 02/01/2025		4,040,000		4,795,197
State of Illinois, General Obligation Unlimited
5.00%, 02/01/2022 - 04/01/2024		190,000		205,929
5.50%, 07/01/2025		185,000		207,178
BAM-TCRS,
4.00%, 06/01/2041		18,625,000		20,434,605

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Tazewell County School District No. 51, General Obligation Unlimited
NATL,
9.00%, 12/01/2021 - 12/01/2022		$   1,355,000		$   1,599,071
Town of Cicero, General Obligation Unlimited,
Series B, AGM,
4.20%, 12/01/2027		340,000		345,909
University of Illinois, Revenue Bonds
Series A, AGM,
4.00%, 04/01/2043		5,795,000		6,484,547
Series A, AMBAC,
5.50%, 04/01/2022		75,000		82,038
Series A, BAM-TCRS,
4.00%, 04/01/2031		1,445,000		1,601,508
Village of Bedford Park Water System Revenue, Revenue Bonds,
Series A, AGM,
4.00%, 12/01/2026		95,000		105,851
Village of Bellwood, General Obligation Unlimited
AGM,
5.00%, 12/01/2027		235,000		273,366
Series B, AGM,
3.00%, 12/01/2029		1,000,000		1,049,520
Village of Broadview, General Obligation Unlimited
Series A, BAM,
3.00%, 12/01/2020 - 12/01/2022		510,000		525,294
Village of Calumet Park, General Obligation Unlimited
BAM,
4.00%, 12/01/2021 - 12/01/2032		2,490,000		2,757,228
Village of Crestwood, General Obligation Unlimited
BAM,
4.50%, 12/15/2027 - 12/15/2029		2,395,000		2,599,832
Series B, BAM,
5.00%, 12/15/2028 - 12/15/2035		7,245,000		8,116,841
Village of Dolton, General Obligation Unlimited,
Series A, AGC,
4.50%, 12/01/2024		300,000		300,510
Village of Franklin Park, Revenue Bonds,
BAM,
5.00%, 04/01/2026		230,000		265,149
Village of Hazel Crest, General Obligation Unlimited
BAM,
4.00%, 12/01/2024 - 12/01/2025		640,000		723,584
Village of Lombard, General Obligation Unlimited
4.00%, 01/01/2021		910,000		926,871
5.00%, 01/01/2022 - 01/01/2024		1,740,000		1,885,200
Village of Lyons, General Obligation Unlimited
Series B, BAM,
4.00%, 12/01/2036 - 12/01/2039		4,440,000		5,087,218
5.00%, 12/01/2032		125,000		135,656
Series C, BAM,
3.00%, 12/01/2020		85,000		86,343
4.00%, 12/01/2022 - 12/01/2023		550,000		590,741
Village of Matteson, Revenue Bonds
BAM,
5.00%, 12/01/2024 - 12/01/2035		3,610,000		4,334,968

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Village of Midlothian, General Obligation Unlimited,
BAM,
4.00%, 01/01/2038		$   1,000,000		$   1,126,160
Village of Montgomery, Special Assessment
BAM,
2.10%, 03/01/2020		190,000		190,162
2.85%, 03/01/2024		192,000		199,526
3.00%, 03/01/2025		135,000		142,228
3.10%, 03/01/2026		265,000		282,845
3.30%, 03/01/2028		204,000		219,043
3.40%, 03/01/2029		739,000		793,479
3.45%, 03/01/2030		139,000		148,794
Village of Mount Prospect, General Obligation Unlimited,
3.00%, 12/01/2021		100,000		103,441
Village of Mundelein, General Obligation Unlimited,
AGM,
4.00%, 12/15/2039		720,000		815,393
Village of Oak Lawn, General Obligation Unlimited,
Series A,
3.00%, 12/01/2020		260,000		262,410
Village of Pingree Grove Special Service Area No. 2, Special Tax,
AGM,
2.00%, 03/01/2020		210,000		210,162
Village of South Holland, General Obligation Unlimited,
Series B,
4.00%, 12/15/2022		105,000		112,628
Village of Stone Park, General Obligation Unlimited
Series B, BAM,
4.00%, 02/01/2035 - 02/01/2036		310,000		341,638
Warren County Community Unit School District No. 238, General Obligation Unlimited,
AGM,
4.00%, 12/01/2021		75,000		78,960
Wauconda Special Service Area No.1, Special Tax,
Series A, BAM,
5.00%, 03/01/2033		305,000		349,493
Western Illinois Economic Development Authority, Revenue Bonds
4.00%, 06/01/2020 - 06/01/2033		5,625,000		5,843,775
Western Illinois University, Certificate of Participation
AGM,
3.00%, 10/01/2022		3,010,000		3,096,116
5.00%, 10/01/2024		3,330,000		3,781,215
Western Illinois University, Revenue Bonds
BAM,
5.00%, 04/01/2021 - 04/01/2024		2,030,000		2,205,558
Will County Community High School District No. 210, General Obligation Unlimited
4.00%, 01/01/2022		5,000,000		5,007,650
Series A, AGM-CR,
5.00%, 01/01/2027		3,475,000		3,796,750
Will County Community Unit School District No. 201, General Obligation Limited,
Series C, AGM,
5.00%, 01/01/2027		1,075,000		1,290,881

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Illinois (continued)
Will County Community Unit School District No. 201, General Obligation Unlimited
AGM,
Zero Coupon, 11/01/2024		$   610,000		$   566,483
Series B, AGM,
5.00%, 01/01/2026		515,000		623,953
Will County School District No. 86, General Obligation Unlimited,
Series C, AGM-CR,
5.00%, 03/01/2024		8,105,000		9,306,404
Will Grundy Et Cetera County Revenue, General Obligation Unlimited,
Series B,
5.00%, 06/01/2038		200,000		223,998
				278,073,592
Indiana - 2.3%
Aurora School Building Corp., Revenue Bonds,
5.00%, 07/15/2020		115,000		117,047
Ball State University, Revenue Bonds,
Series R,
5.00%, 07/01/2020		100,000		101,671
Bloomington Redevelopment District, Tax Allocation
Series A-1,
5.00%, 02/01/2026 - 02/01/2040		2,465,000		2,948,320
Center Grove 2000 Building Corp., Revenue Bonds,
5.00%, 07/10/2020		50,000		50,869
City of Evansville, Revenue Bonds,
Series A, AGM,
5.00%, 02/01/2025		140,000		166,246
City of Rockport, Revenue Bonds
Series A,
2.75%, 06/01/2025		6,295,000		6,758,941
Series D,
Fixed until 06/01/2021, 2.05% (C), 04/01/2025		645,000		651,650
Evansville Redevelopment Authority, Revenue Bonds
BAM,
4.00%, 02/01/2028 - 02/01/2029		5,840,000		6,712,619
5.00%, 02/01/2026		700,000		850,493
Greater Clark County School Building Corp., Revenue Bonds,
Series A,
4.00%, 07/15/2024		135,000		151,714
Hammond Multi-School Building Corp., Revenue Bonds
4.00%, 07/15/2020 - 07/15/2021		1,265,000		1,294,612
Indiana Finance Authority, Revenue Bonds
3.50%, 10/01/2025		960,000		1,018,301
4.00%, 02/01/2021		405,000		416,798
5.00%, 02/01/2022 - 10/01/2035		3,030,000		3,585,541
Series A,
4.00%, 09/15/2044 - 09/15/2049		1,040,000		1,133,519
5.00%, 09/15/2021 - 09/15/2026		945,000		1,063,817
Indiana Finance Authority Revenue Educational Facilities
4.00%, 02/01/2040		25,000		28,387
Indiana Health Facility Financing Authority, Revenue Bonds
Fixed until 05/01/2020, 1.25% (C), 11/01/2027		2,785,000		2,786,643
5.00%, 11/15/2034		1,725,000		2,066,998

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Indiana (continued)
Indiana Housing & Community Development Authority, Revenue Bonds
Series A-1, GNMA, FNMA, FHLMC,
2.85%, 07/01/2031		$   225,000		$   232,970
Series C-1, GNMA, FNMA, FHLMC,
3.25%, 01/01/2032		1,515,000		1,631,731
Indiana University, Revenue Bonds,
Series A,
5.00%, 06/01/2024		50,000		58,730
Jeffersonville Redevelopment Authority, Revenue Bonds,
AGM,
3.00%, 08/01/2026		760,000		856,026
Lake Central School Corp.
4.00%, 07/15/2020		350,000		354,641
Merrillville Building Corp., Revenue Bonds
BAM,
4.00%, 07/15/2036 - 12/15/2039		2,720,000		3,088,519
Merrillville Redevelopment Authority, Revenue Bonds
BAM,
4.00%, 07/15/2036 - 12/15/2039		3,335,000		3,776,627
Vincennes University, Revenue Bonds,
Series J,
5.00%, 06/01/2020		100,000		101,329
Wawasee High School Building Corp., Revenue Bonds,
5.00%, 07/15/2038		1,300,000		1,548,014
				43,552,773
Iowa - 0.0% (E)
City of Ames, General Obligation Unlimited,
Series A,
2.25%, 06/01/2028		120,000		124,441
County of Hamilton, General Obligation Unlimited,
Series A,
2.00%, 06/01/2020		305,000		306,043
				430,484
Kansas - 0.3%
City of Dodge City, Revenue Bonds,
3.00%, 07/15/2021		80,000		82,363
City of Wichita, Revenue Bonds,
Series I,
5.00%, 05/15/2028		300,000		339,309
Kansas Development Finance Authority, Revenue Bonds,
Series C, BAM,
4.00%, 05/01/2022		90,000		95,723
Kansas Independent College Finance Authority, Revenue Bonds,
5.50%, 05/01/2020		1,000,000		1,006,970
Marais Des Cygnes Public Utility Authority, Revenue Bonds
AGM,
3.00%, 12/01/2026 - 12/01/2027		990,000		1,081,927

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Kansas (continued)
Montgomery County Unified School District No. 446, General Obligation Unlimited
BAM,
5.00%, 09/01/2027 - 09/01/2030		$   3,125,000		$   3,841,376
Unified Government of Greeley County, General Obligation Unlimited,
Series B,
5.00%, 12/01/2037		225,000		267,899
				6,715,567
Kentucky - 2.2%
Bullitt County School District Finance Corp., Revenue Bonds
3.10%, 09/01/2026		65,000		69,841
3.25%, 09/01/2028		545,000		580,365
City of Winchester Combined Utilities Revenue, Revenue Bonds,
Series A, BAM,
4.00%, 07/01/2029		685,000		823,459
County of Hardin, Revenue Bonds,
AGM,
5.75%, 08/01/2033		20,000		22,687
Eastern Kentucky University, Revenue Bonds,
Series A,
4.00%, 04/01/2025		125,000		140,920
Fayette County School District Finance Corp., Revenue Bonds,
Series B,
4.00%, 05/01/2024		140,000		156,304
Kentucky Economic Development Finance Authority, Revenue Bonds
5.25%, 08/15/2046		1,230,000		1,291,094
AGM,
5.00%, 12/01/2045 - 12/01/2047		1,580,000		1,840,288
Kentucky Municipal Power Agency, Revenue Bonds
Series A,
Fixed until 03/01/2026, 3.45% (C), 09/01/2042		2,500,000		2,608,425
Series A, NATL,
5.00%, 09/01/2023 - 09/01/2042		165,000		187,798
Kentucky State Property & Building Commission, Revenue Bonds,
BAM-TCRS,
5.00%, 04/01/2029		3,450,000		4,268,581
Kentucky Turnpike Authority
Series A,
5.00%, 07/01/2020		420,000		426,791
Kentucky Turnpike Authority, Revenue Bonds,
Series A,
5.00%, 07/01/2021		45,000		47,497
Louisville & Jefferson County Visitors and Convention Commission, Revenue Bonds
AGM-CR,
4.00%, 06/01/2024 - 06/01/2029		17,290,000		19,909,589
Morehead State University, Revenue Bonds
Series A,
3.00%, 04/01/2027		155,000		165,914
4.00%, 04/01/2030 - 04/01/2032		435,000		481,203

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Kentucky (continued)
Nicholas County School District Finance Corp., Revenue Bonds
2.00%, 02/01/2023		$   55,000		$   56,365
2.38%, 02/01/2025		240,000		253,298
2.50%, 02/01/2027		305,000		324,236
3.00%, 02/01/2028 - 02/01/2032		365,000		394,628
Northern Kentucky University
4.00%, 09/01/2020		100,000		101,750
Northern Kentucky University, Revenue Bonds,
Series A,
4.00%, 09/01/2025		900,000		1,030,455
Paducah Electric Plant Board, Revenue Bonds
Series A, AGM,
5.00%, 10/01/2029 - 10/01/2032		2,330,000		2,830,253
Warren County Justice Center Expansion Corp., Revenue Bonds,
5.00%, 09/01/2024		820,000		957,227
Warren County School District Finance Corp., Revenue Bonds,
4.00%, 04/01/2026		3,690,000		4,187,117
				43,156,085
Louisiana - 2.3%
City of Ruston, Revenue Bonds,
AGM,
5.00%, 06/01/2036		260,000		308,448
Fremaux Economic Development District, Revenue Bonds,
5.00%, 11/01/2034		250,000		258,593
Jefferson Sales Tax District, Revenue Bonds,
Series B, AGM,
5.00%, 12/01/2032		25,000		31,320
Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds
AGM,
5.00%, 08/01/2026 - 08/01/2029		13,795,000		17,114,989
Louisiana Public Facilities Authority, Revenue Bonds
5.00%, 07/01/2022 - 07/01/2027		3,160,000		3,646,826
AGM,
5.00%, 06/01/2021		65,000		68,413
New Orleans Aviation Board, Revenue Bonds
AGM,
5.00%, 10/01/2033 - 10/01/2048		8,265,000		10,011,919
St. Tammany Parish Hospital Service District No. 1, Revenue Bonds
Series A,
5.00%, 07/01/2033 - 07/01/2048		10,015,000		12,219,400
				43,659,908
Maine - 0.6%
City of Portland General Airport Revenue, Revenue Bonds,
5.00%, 01/01/2028		640,000		767,866
Maine Governmental Facilities Authority, Revenue Bonds,
Series A,
5.00%, 10/01/2028		350,000		432,296
Maine Health & Higher Educational Facilities Authority, Revenue Bonds,
Series A,
5.00%, 07/01/2038		35,000		42,737

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Maine (continued)
Maine State Housing Authority, Revenue Bonds
Series A,
3.00%, 11/15/2044		$   2,020,000		$   2,059,249
Series B,
2.75%, 11/15/2028		410,000		439,401
2.90%, 11/15/2029		880,000		945,551
3.15%, 11/15/2039		1,680,000		1,764,605
3.35%, 11/15/2044		130,000		136,930
Series C,
2.35%, 11/15/2027		245,000		256,246
2.50%, 11/15/2028		550,000		576,339
2.75%, 11/15/2031		2,120,000		2,198,864
Series D-1,
2.50%, 11/15/2026		510,000		545,103
2.65%, 11/15/2027		755,000		806,370
2.80%, 11/15/2028		570,000		610,801
2.95%, 11/15/2029		350,000		375,564
				11,957,922
Maryland - 0.2%
City of Baltimore, Revenue Bonds,
Series C,
5.00%, 07/01/2028		50,000		57,319
City of Rockville, Revenue Bonds
Series A-2,
2.25%, 11/01/2022		250,000		251,455
5.00%, 11/01/2023		345,000		383,837
Series A1,
5.00%, 11/01/2021 - 11/01/2023		550,000		597,863
Series C,
3.00%, 11/01/2025		1,500,000		1,503,225
Maryland Health & Higher Educational Facilities Authority, Revenue Bonds,
5.00%, 07/01/2021		35,000		37,049
Montgomery County Revenue Authority, Revenue Bonds,
Series A,
4.00%, 11/01/2020		85,000		86,924
				2,917,672
Massachusetts - 0.8%
Commonwealth of Massachusetts, General Obligation Limited
Series A,
5.00%, 07/01/2037		45,000		53,877
Series B,
5.00%, 06/01/2024		125,000		126,686
Lynn Housing Authority & Neighborhood Development, Revenue Bonds
4.25%, 10/01/2028		315,000		339,047
4.38%, 10/01/2029		300,000		323,454
Massachusetts Bay Transportation Authority, Revenue Bonds,
0.90% (C), 03/01/2030		145,000		145,000
Massachusetts Development Finance Agency, Revenue Bonds
5.00%, 10/01/2039		250,000		285,872
Series I,
5.00%, 07/01/2025 - 07/01/2026		1,080,000		1,311,053
Series K,
4.00%, 07/01/2038		5,255,000		5,873,829
Series S-2,
Fixed until 01/30/2025, 5.00% (C), 07/01/2038		75,000		89,414

The notes are an integral part of this report. Transamerica Funds Page    14

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Massachusetts (continued)
Massachusetts Housing Finance Agency, Revenue Bonds
Series 178,
3.70%, 12/01/2033		$   940,000		$   1,006,768
Series 183,
2.80%, 06/01/2031		1,575,000		1,644,127
Series 187, FNMA,
2.65%, 12/01/2027		740,000		793,953
2.80%, 06/01/2028 - 12/01/2028		2,915,000		3,118,387
Series C,
2.40%, 12/01/2025		210,000		225,975
2.60%, 12/01/2026		150,000		160,317
2.70%, 06/01/2027		150,000		163,694
2.85%, 06/01/2028		160,000		172,734
2.90%, 12/01/2028		125,000		134,788
				15,968,975
Michigan - 3.3%
Allendale Public School District, General Obligation Unlimited,
5.00%, 11/01/2026		100,000		123,411
Capac Community School District, General Obligation Unlimited
BAM,
4.00%, 05/01/2027 - 05/01/2031		1,240,000		1,462,439
Chelsea School District, General Obligation Unlimited,
Series D,
4.00%, 05/01/2020		200,000		201,466
City of Detroit Sewage Disposal System Revenue, Revenue Bonds
Series A, AGM,
5.25%, 07/01/2023 - 07/01/2024		90,000		104,411
Clarkston Community Schools, General Obligation Unlimited,
Series I,
5.00%, 05/01/2041		20,000		23,716
Decatur Public School District, General Obligation Unlimited,
3.00%, 05/01/2022		145,000		151,283
Detroit Downtown Development Authority, Tax Allocation,
5.00%, 07/01/2048		10,000,000		11,163,200
Detroit Wayne County Stadium Authority, Revenue Bonds,
AGM,
5.00%, 10/01/2026		2,775,000		3,048,476
East Lansing Economic Development Corp., Revenue Bonds,
Series B,
2.95%, 07/01/2020		50,000		50,251
Fitzgerald Public School District, General Obligation Unlimited,
BAM,
4.00%, 05/01/2025		630,000		712,121
Forest Hills Public Schools, General Obligation Unlimited,
Series I,
3.00%, 05/01/2024		85,000		92,053
Grand Rapids Economic Development Corp., Revenue Bonds,
3.00%, 11/01/2022		1,240,000		1,249,734
Grand Rapids Public Schools, General Obligation Unlimited
AGM,
5.00%, 05/01/2030 - 11/01/2039		1,730,000		2,145,788

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Michigan (continued)
Kirtland Community College, General Obligation Unlimited,
BAM,
4.00%, 05/01/2020		$   150,000		$   151,103
Lake City Area Schools, General Obligation Unlimited,
BAM,
5.00%, 05/01/2035		2,725,000		3,228,389
Meridian Economic Development Corp., Revenue Bonds
Series A,
2.95%, 07/01/2020		450,000		452,255
3.25%, 07/01/2021		605,000		617,396
Michigan Finance Authority, Revenue Bonds
5.00%, 12/01/2035		1,340,000		1,439,709
5.25%, 10/01/2043		20,000		22,529
Michigan State Hospital Finance Authority, Revenue Bonds
Series F,
Fixed until 04/01/2021, 1.90% (C), 11/15/2047		1,320,000		1,332,566
Fixed until 03/15/2023, 2.40% (C), 11/15/2047		745,000		773,079
Michigan State Housing Development Authority, Revenue Bonds
Series B,
3.25%, 12/01/2032		3,835,000		4,099,845
Series D,
3.65%, 10/01/2032		2,700,000		2,779,191
Michigan Strategic Fund, Revenue Bonds,
5.00%, 11/15/2049		2,500,000		2,904,450
North Branch Area Schools, General Obligation Unlimited,
5.00%, 05/01/2020		200,000		201,922
Saranac Community Schools, General Obligation Unlimited
4.00%, 05/01/2030 - 05/01/2031		825,000		945,310
Series A,
4.00%, 05/01/2025		130,000		148,571
Southgate Community School District, General Obligation Unlimited
5.00%, 05/01/2032 - 05/01/2035		1,950,000		2,328,841
Stockbridge Community Schools, General Obligation Unlimited,
Series A,
5.00%, 05/01/2031		375,000		451,556
Sturgis Public School District, General Obligation Unlimited,
Series A,
5.00%, 05/01/2026		45,000		54,525
Three Rivers Community Schools, General Obligation Unlimited,
2.00%, 05/01/2020		100,000		100,252
Tri-County Area School District, General Obligation Unlimited,
AGM,
4.00%, 05/01/2044		5,170,000		5,880,823
Warren Consolidated Schools, General Obligation Unlimited
AGM,
4.00%, 05/01/2025 - 05/01/2027		700,000		811,413
Series B, BAM,
5.00%, 05/01/2023 - 05/01/2025		6,710,000		7,824,424

The notes are an integral part of this report. Transamerica Funds Page    15

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Michigan (continued)
Wayne County Airport Authority, Revenue Bonds,
Series A,
5.00%, 12/01/2032		$   250,000		$   312,360
Zeeland Public Schools, General Obligation Unlimited
Series B, BAM,
5.00%, 05/01/2026 - 05/01/2030		5,820,000		7,320,552
				64,709,410
Minnesota - 1.8%
City of Apple Valley, Revenue Bonds,
4.25%, 09/01/2038		1,000,000		1,047,990
City of Deephaven, Revenue Bonds
Series A,
4.38%, 10/01/2027		250,000		261,177
4.40%, 07/01/2025		125,000		131,766
City of Red Wing, Revenue Bonds,
Class A,
5.00%, 08/01/2047		1,250,000		1,319,375
City of St. Cloud, Revenue Bonds,
Series A,
3.00%, 04/01/2021		250,000		170,000
City of Stillwater, Tax Allocation
3.00%, 02/01/2021 - 02/01/2027		2,455,000		2,543,002
4.00%, 02/01/2030		750,000		802,117
County of Chippewa, Revenue Bonds
4.00%, 03/01/2023 - 03/01/2026		5,460,000		5,933,793
Dakota County Community Development Agency, Revenue Bonds,
Series A,
5.00%, 09/01/2029		705,000		757,121
Housing & Redevelopment Authority of the City of St. Paul, Revenue Bonds
Series A,
5.00%, 11/15/2025 - 12/01/2030		850,000		1,015,342
Series B,
4.25%, 04/01/2025		170,000		174,966
Minnesota Housing Finance Agency, Revenue Bonds
Series A,
4.00%, 08/01/2031		100,000		112,270
Series B, GNMA, FNMA, FHLMC,
2.40%, 01/01/2035 (F)		5,940,000		5,979,976
2.63%, 01/01/2040 (F)		7,510,000		7,564,297
Series C, GNMA, FNMA, FHLMC,
2.80%, 07/01/2024		105,000		110,815
2.95%, 07/01/2025		70,000		74,773
Series E, GNMA, FNMA, FHLMC,
3.30%, 01/01/2034		3,345,000		3,591,159
Series F,
2.90%, 01/01/2026		215,000		230,446
2.95%, 07/01/2026		265,000		284,191
Series F, GNMA, FNMA, FHLMC,
2.30%, 07/01/2032		1,280,000		1,291,482
Township of Baytown, Revenue Bonds,
Series A,
4.00%, 08/01/2036		675,000		705,618
				34,101,676
Mississippi - 0.9%
Mississippi Development Bank, Revenue Bonds
4.00%, 07/01/2049		400,000		448,800
AGM,
6.88%, 12/01/2040		340,000		406,609

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Mississippi (continued)
Mississippi Development Bank, Revenue Bonds (continued)
AGM-CR,
5.25%, 02/01/2049		$   7,440,000		$   9,318,898
Series A,
5.00%, 03/01/2022		650,000		651,937
Mississippi Home Corp., Revenue Bonds
Series A, GNMA, FNMA, FHLMC,
2.20%, 12/01/2024		695,000		727,582
2.35%, 06/01/2025		320,000		338,886
2.45%, 12/01/2025		520,000		556,150
2.70%, 12/01/2026		475,000		515,551
2.75%, 06/01/2027		150,000		162,852
2.80%, 12/01/2027		75,000		81,959
2.85%, 06/01/2028		170,000		185,834
2.95%, 12/01/2028		535,000		585,846
Series E, GNMA, FNMA, FHLMC,
3.00%, 12/01/2028		80,000		86,135
West Rankin Utility Authority, Revenue Bonds
AGM,
5.00%, 01/01/2037 - 01/01/2038		3,105,000		3,606,589
				17,673,628
Missouri - 0.8%
Belton School District No. 124, Certificate of Participation,
AGM,
5.00%, 01/15/2044		700,000		784,973
Branson Industrial Development Authority, Revenue Bonds
Series A,
3.00%, 11/01/2020 - 11/01/2021		750,000		757,109
4.00%, 11/01/2022		350,000		364,291
City of Kansas City, Revenue Bonds,
Series A,
5.00%, 09/01/2034		100,000		100,277
Hannibal Industrial Development Authority, Revenue Bonds,
5.00%, 10/01/2037		1,500,000		1,781,295
Industrial Development Authority of the City of St. Louis, Tax Allocation,
3.75%, 11/01/2027		405,000		417,838
Lincoln University Auxiliary System Revenue, Revenue Bonds
AGM,
4.00%, 06/01/2035 - 06/01/2037		840,000		933,447
5.00%, 06/01/2027		870,000		1,072,466
Missouri Housing Development Commission, Revenue Bonds
Series B, GNMA, FNMA, FHLMC,
2.50%, 05/01/2029		5,000		5,229
2.55%, 11/01/2029		430,000		448,769
Missouri Joint Municipal Electric Utility Commission, Revenue Bonds,
5.00%, 12/01/2043		250,000		298,863
Missouri Southern State University, Revenue Bonds,
Series A, AGM,
4.00%, 10/01/2037		170,000		188,775
Missouri State Health & Educational Facilities Authority, Revenue Bonds
Series A,
5.00%, 02/01/2029 - 02/01/2042		2,895,000		3,327,846

The notes are an integral part of this report. Transamerica Funds Page    16

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Missouri (continued)
St. Louis County Industrial Development Authority, Special Assessment,
2.38%, 03/01/2020 (A)		$   300,000		$   300,072
St. Louis Municipal Finance Corp., Revenue Bonds
Series A, AGM,
5.00%, 02/15/2030 - 02/15/2033		4,160,000		5,064,892
				15,846,142
Montana - 0.2%
Missoula High School District No. 1, General Obligation Unlimited,
4.00%, 07/01/2034		345,000		397,326
Montana Board of Housing, Revenue Bonds,
Series A,
3.75%, 12/01/2038		335,000		367,827
Montana Facility Finance Authority, Revenue Bonds
5.00%, 07/01/2030		575,000		723,143
Series C,
5.00%, 06/01/2024 - 06/01/2025		1,460,000		1,702,433
				3,190,729
Nebraska - 0.5%
Central Plains Energy Project, Revenue Bonds,
Series A,
5.00%, 09/01/2034		880,000		1,175,539
City of La Vista, Revenue Bonds,
3.00%, 07/15/2034		475,000		489,568
Madison County Hospital Authority No. 1, Revenue Bonds,
Series V,
5.00%, 07/01/2025		1,765,000		2,062,367
Omaha Public Power District, Revenue Bonds
Series A,
5.00%, 02/01/2033 - 02/01/2034		4,025,000		4,749,332
Papio-Missouri River Natural Resource District, General Obligation Limited
4.00%, 12/15/2027 - 12/15/2029		425,000		455,847
Thurston County School District No. 16, General Obligation Limited,
3.88%, 06/15/2029		100,000		101,482
				9,034,135
Nevada - 0.3%
City of Carson, Revenue Bonds,
5.00%, 09/01/2034		700,000		840,987
County of Washoe, Revenue Bonds,
Series B,
Fixed until 06/01/2022, 3.00% (C), 03/01/2036		1,200,000		1,250,508
Henderson Local Improvement Districts, Special Assessment
2.00%, 09/01/2023		355,000		360,715
2.25%, 09/01/2024		550,000		566,522
2.38%, 03/01/2021 - 03/01/2022		1,240,000		1,263,466
2.50%, 03/01/2023 - 09/01/2025		1,390,000		1,440,824

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Nevada (continued)
Las Vegas Special Improvement District Nos. 808 & 810, Special Assessment,
4.00%, 06/01/2020		$   170,000		$   171,134
Nevada System of Higher Education, Revenue Bonds
Series A,
5.00%, 07/01/2021 - 07/01/2024		50,000		54,771
				5,948,927
New Hampshire - 0.1%
New Hampshire Housing Finance Authority, Revenue Bonds,
3.55%, 07/01/2037		925,000		989,306
New Jersey - 7.5%
Camden County Improvement Authority, Revenue Bonds
5.00%, 01/15/2026		255,000		294,737
Series A,
5.00%, 01/15/2029		10,000		11,869
City of Atlantic City, General Obligation Unlimited,
Series B, AGM,
5.00%, 03/01/2037		900,000		1,073,916
City of Bayonne, General Obligation Unlimited,
AGM,
5.00%, 08/01/2024		70,000		81,708
City of Newark, General Obligation Unlimited,
Series A,
5.00%, 10/01/2020		55,000		56,113
City of Paterson, General Obligation Unlimited,
BAM,
5.00%, 01/15/2024		355,000		390,724
City of Trenton, General Obligation Unlimited
AGM,
5.00%, 07/15/2034		200,000		246,858
BAM,
5.00%, 07/15/2022 - 12/01/2023		5,805,000		6,431,166
Cumberland County Improvement Authority, Revenue Bonds
BAM,
5.00%, 12/15/2023 - 12/15/2024		845,000		995,690
Essex County Improvement Authority, Revenue Bonds
4.00%, 11/01/2045		3,475,000		3,885,050
Series A,
5.00%, 12/01/2035 (G)		535,000		481,500
Garden State Preservation Trust, Revenue Bonds
Series A, AGM,
5.75%, 11/01/2028		4,950,000		6,287,985
Series C, AGM,
5.25%, 11/01/2021		45,000		48,204
Greater Egg Harbor Regional High School District, General Obligation Unlimited
AGM,
4.00%, 02/01/2030		150,000		169,696
5.00%, 02/01/2023 - 02/01/2024		2,345,000		2,698,433
Little Egg Harbor Board of Education, General Obligation Unlimited,
AGM,
4.00%, 01/15/2021		125,000		128,597

The notes are an integral part of this report. Transamerica Funds Page    17

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New Jersey (continued)
New Jersey Building Authority, Revenue Bonds
Series A,
5.00%, 12/15/2022		$   45,000		$   45,105
Series A, BAM,
5.00%, 06/15/2028		475,000		569,610
New Jersey Economic Development Authority, Revenue Bonds
5.00%, 11/01/2044		10,000,000		11,997,900
Series A,
3.50%, 09/01/2022 (A)		120,000		121,506
4.25%, 09/01/2027 (A)		200,000		216,392
5.00%, 06/15/2022 - 06/15/2025		8,675,000		9,881,295
5.00%, 09/01/2037 (A)		750,000		834,825
Series A, BAM,
3.13%, 07/01/2031		2,440,000		2,586,522
5.00%, 06/15/2021 - 07/01/2028		12,830,000		14,825,467
Series A, BAM-TCRS,
5.00%, 06/15/2027 - 06/15/2030		15,850,000		19,568,846
Series B,
4.25%, 09/01/2022 (A)		140,000		140,764
Series C,
4.00%, 06/15/2025		1,825,000		2,038,981
Series C, BAM-TCRS,
5.00%, 06/15/2026		2,755,000		3,339,032
Series DDD,
5.00%, 06/15/2020 - 06/15/2024		2,100,000		2,402,693
Series DDD, BAM-TCRS,
5.00%, 06/15/2026 - 06/15/2035		6,985,000		8,534,816
Series PP, AGM-CR,
5.00%, 06/15/2025		14,450,000		16,708,824
Series UU, AGM-CR,
5.00%, 06/15/2025		905,000		1,046,470
New Jersey Educational Facilities Authority, Revenue Bonds
Series D, AGM,
5.00%, 07/01/2024		2,485,000		2,895,423
Series F, AGC,
4.00%, 07/01/2020		635,000		642,633
Series H, AGM,
5.00%, 07/01/2026		610,000		728,425
New Jersey Health Care Facilities Financing Authority, Revenue Bonds
5.00%, 07/01/2023		50,000		54,810
Series A, AGM,
5.00%, 07/01/2024 - 07/01/2046		1,025,000		1,187,286
New Jersey Higher Education Student Assistance Authority, Revenue Bonds,
Series A,
2.38%, 12/01/2029		4,930,000		5,046,447
New Jersey Housing & Mortgage Finance Agency, Revenue Bonds
Series A,
2.60%, 11/01/2024		2,120,000		2,238,593
2.85%, 11/01/2025		1,830,000		1,969,702
Series B,
2.00%, 05/01/2021		3,825,000		3,865,430
Series F, FHLMC,
3.35%, 12/01/2030		1,255,000		1,345,937
New Jersey Transportation Trust Fund Authority, Revenue Bonds
Series A, AGM-CR,
5.50%, 12/15/2022		3,030,000		3,405,478
Series B, AGC-ICC, FGIC,
5.50%, 12/15/2020		100,000		103,833
Series B, AMBAC,
5.25%, 12/15/2023		30,000		34,456

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New Jersey (continued)
New Jersey Turnpike Authority, Revenue Bonds,
Series B,
5.00%, 01/01/2033		$   15,000		$   18,927
Parking Authority of the City of Trenton, Revenue Bonds
Series B, AGM,
4.00%, 04/01/2023 - 04/01/2028		1,620,000		1,802,086
Passaic County Improvement Authority, Revenue Bonds,
5.00%, 05/01/2020		145,000		146,462
River Edge School District, General Obligation Unlimited,
3.00%, 02/01/2020		25,000		25,000
Tobacco Settlement Financing Corp., Revenue Bonds,
Series A,
5.00%, 06/01/2023		25,000		27,872
Town of Kearny, General Obligation Unlimited,
Series A, AGM,
5.00%, 02/01/2023		535,000		593,508
				144,273,602
New Mexico - 0.3%
City of Farmington, Revenue Bonds
Fixed until 06/01/2022, 2.13% (C), 06/01/2040		1,450,000		1,473,635
Series A,
Fixed until 04/01/2020, 1.88% (C), 04/01/2029		1,950,000		1,951,482
City of Santa Fe, Revenue Bonds,
Series A,
4.00%, 06/01/2020		225,000		227,308
New Mexico Mortgage Finance Authority, Revenue Bonds
Series A-1,
1.65%, 09/01/2021		15,000		15,124
Series A-1, GNMA, FNMA, FHLMC,
3.45%, 07/01/2033		1,020,000		1,112,218
3.70%, 07/01/2038		1,060,000		1,156,312
State of New Mexico Severance Tax Permanent Fund, Revenue Bonds,
Series B,
4.00%, 07/01/2020		130,000		131,654
				6,067,733
New York - 3.5%
Brooklyn Arena Local Development Corp., Revenue Bonds,
Series A, AGM,
4.00%, 07/15/2035		2,400,000		2,694,984
Buffalo & Erie County Industrial Land Development Corp., Revenue Bonds
5.00%, 10/01/2037		400,000		491,976
Series A,
3.88%, 08/01/2027		2,545,000		2,732,414
5.00%, 08/01/2037		1,320,000		1,482,769
Buffalo Municipal Water Finance Authority, Revenue Bonds,
Series A, AGM,
5.00%, 07/01/2039		455,000		547,620
Build Resource Corp., Revenue Bonds,
5.00%, 07/01/2041		100,000		112,823

The notes are an integral part of this report. Transamerica Funds Page    18

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New York (continued)
City of Niagara Falls, General Obligation Limited,
BAM,
5.00%, 05/15/2028		$   55,000		$   67,192
County of Suffolk, General Obligation Limited
Series A, AGM,
3.00%, 06/15/2025		1,505,000		1,650,819
Series D, BAM,
4.00%, 10/15/2027 - 10/15/2029		10,785,000		12,764,118
5.00%, 10/15/2023		115,000		131,402
Dutchess County Local Development Corp., Revenue Bonds
5.00%, 07/01/2032 - 07/01/2036		555,000		656,183
Jefferson County Civic Facility Development Corp., Revenue Bonds,
Series A,
4.00%, 11/01/2030		350,000		389,631
Lockport City School District, General Obligation Unlimited
2.25%, 08/01/2027		620,000		662,854
2.50%, 08/01/2028		1,145,000		1,227,131
Metropolitan Transportation Authority
5.00%, 05/15/2020		300,000		303,306
Metropolitan Transportation Authority, Revenue Bonds
Series A,
5.00%, 11/15/2025		50,000		55,716
Series D,
5.00%, 11/15/2030		2,500,000		2,768,300
Series E,
4.00%, 09/01/2020		105,000		106,764
MTA Hudson Rail Yards Trust Obligations, Revenue Bonds,
Series A,
5.00%, 11/15/2051		2,000,000		2,122,760
New York City Housing Development Corp., Revenue Bonds
1.38%, 05/01/2020		175,000		175,123
1.95%, 05/01/2020		275,000		275,567
Series A, AGM,
4.10%, 07/01/2042		25,000		26,043
Series C-1,
2.25%, 05/01/2026		705,000		737,931
2.30%, 11/01/2026		925,000		971,842
2.40%, 05/01/2027		850,000		894,106
2.45%, 11/01/2027		190,000		199,910
2.55%, 05/01/2028		320,000		337,718
Series I, FNMA,
Fixed until 02/01/2026, 2.95% (C), 11/01/2045		4,950,000		5,301,895
New York City Industrial Development Agency, Revenue Bonds,
FGIC,
4.50%, 03/01/2039		245,000		247,599
New York City Transitional Finance Authority Future Tax Secured Revenue, Revenue Bonds,
5.00%, 11/01/2020		800,000		824,480
New York Liberty Development Corp., Revenue Bonds,
2.80%, 09/15/2069		1,500,000		1,558,440
New York State Dormitory Authority, Revenue Bonds
4.00%, 08/15/2020 - 07/01/2046		950,000		1,072,009
Series A,
5.00%, 12/15/2029 - 08/01/2035		4,045,000		4,679,858

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
New York (continued)
New York State Housing Finance Agency, Revenue Bonds
Series H, GNMA, FNMA, FHLMC,
1.65%, 11/01/2021		$   4,970,000		$   5,009,412
Series L, GNMA, FNMA, FHLMC,
1.50%, 11/01/2020		180,000		180,502
New York State Thruway Authority, Revenue Bonds
Series 2005 BAMBAC,
5.50%, 04/01/2020		100,000		100,734
Series A,
5.00%, 01/01/2051		175,000		205,254
Niagara Tobacco Asset Securitization Corp., Revenue Bonds,
4.00%, 05/15/2029		145,000		146,282
Oneida County Local Development Corp. Revenue, Revenue Bonds,
4.00%, 12/01/2049		3,000,000		3,411,690
Port Authority of New York & New Jersey, Revenue Bonds,
5.00%, 09/01/2048		2,160,000		2,680,085
State of New York Mortgage Agency, Revenue Bonds
Series 190,
3.45%, 10/01/2030		110,000		116,861
Series 197,
1.90%, 04/01/2025		925,000		957,301
Town of North Hempstead, General Obligation Limited
Series A,
2.50%, 03/15/2030		1,405,000		1,472,061
2.75%, 03/15/2031 - 03/15/2033		3,115,000		3,283,322
Town of Oyster Bay, General Obligation Limited,
AGM-CR,
4.00%, 02/15/2024		1,035,000		1,150,558
TSASC, Inc., Revenue Bonds,
Series A,
5.00%, 06/01/2024		140,000		160,863
Westchester County Local Development Corp., Revenue Bonds,
5.00%, 11/01/2026		675,000		807,469
Windsor Central School District, General Obligation Unlimited
2.00%, 06/15/2020		115,000		115,470
3.00%, 06/15/2030 - 06/15/2031		285,000		306,943
				68,376,090
North Carolina - 0.9%
City of Charlotte, Certificate of Participation,
Series A,
5.00%, 12/01/2021		25,000		26,879
North Carolina Housing Finance Agency, Revenue Bonds
2.63%, 07/01/2039		3,765,000		3,814,660
2.85%, 01/01/2043		3,115,000		3,159,638
Series 37-B, GNMA, FNMA,
1.95%, 07/01/2023		20,000		20,571
Series 38-B,
2.38%, 01/01/2025		2,010,000		2,129,434
2.45%, 07/01/2025		1,180,000		1,261,255
2.65%, 01/01/2026		1,030,000		1,102,059
2.80%, 01/01/2027		80,000		87,395

The notes are an integral part of this report. Transamerica Funds Page    19

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
North Carolina (continued)
North Carolina Medical Care Commission, Revenue Bonds,
5.00%, 01/01/2038		$   620,000		$   704,971
State of North Carolina, General Obligation Unlimited,
Series A,
4.00%, 05/01/2025		120,000		120,914
Winston-Salem State University, Revenue Bonds
BAM,
5.00%, 06/01/2029 - 06/01/2036		3,445,000		4,108,421
				16,536,197
North Dakota - 0.6%
City of Mandan, Revenue Bonds,
Series A,
4.00%, 09/01/2034		1,010,000		1,104,415
County of Burleigh, Revenue Bonds
3.60%, 05/01/2024		285,000		292,441
5.00%, 05/01/2037		2,000,000		2,108,320
County of Burleigh Multi-County Sales Tax Revenue, Revenue Bonds
Series A, AGM,
3.00%, 11/01/2024 - 11/01/2025		905,000		951,628
Fargo Public School District No. 1, General Obligation Limited,
Series A,
3.00%, 08/01/2026		25,000		27,012
Jamestown Park District, Revenue Bonds
Series A,
3.00%, 07/01/2035		3,230,000		3,339,562
4.00%, 07/01/2026 - 07/01/2027		1,335,000		1,481,208
North Dakota Housing Finance Agency, Revenue Bonds
2.80%, 07/01/2023		55,000		57,827
Series C,
2.55%, 01/01/2028		775,000		815,075
Series D,
2.80%, 01/01/2025		810,000		877,352
2.85%, 07/01/2025		745,000		813,115
				11,867,955
Ohio - 1.5%
Brunswick City School District, General Obligation Unlimited
Series A,
5.00%, 12/01/2027 - 12/01/2037		1,485,000		1,686,603
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds
Series A-2,
5.13%, 06/01/2024		1,445,000		1,452,109
5.38%, 06/01/2024		360,000		361,372
Cardinal Local School District, Certificate of Participation,
5.25%, 04/01/2038		2,160,000		2,248,841
Cleveland Heights & University Heights City School District, General Obligation Unlimited
4.00%, 12/01/2029 - 12/01/2030		1,095,000		1,287,716
Cleveland-Cuyahoga County Port Authority, Revenue Bonds
Series C,
3.00%, 05/15/2020 - 11/15/2023		605,000		627,080

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Ohio (continued)
Cleveland-Cuyahoga County Port Authority, Tax Allocation
Series D,
3.00%, 05/15/2020 - 05/15/2023		$   1,620,000		$   1,659,775
Columbus-Franklin County Finance Authority, Revenue Bonds
4.00%, 05/15/2020 - 11/15/2020		235,000		238,057
Conotton Valley Union Local School District, Certificate of Participation
MAC,
4.00%, 12/01/2035 - 12/01/2042		1,050,000		1,162,347
County of Butler, Revenue Bonds,
5.00%, 11/15/2027		65,000		82,755
County of Hamilton, Revenue Bonds,
5.00%, 05/15/2020		215,000		217,498
County of Lucas, Revenue Bonds,
5.00%, 11/15/2023		810,000		857,012
County of Scioto, Revenue Bonds,
AGM-CR,
3.50%, 02/15/2038		2,155,000		2,295,678
County of Warren, Revenue Bonds
5.00%, 07/01/2023		250,000		281,320
Series A,
4.00%, 07/01/2045		500,000		547,400
Dayton-Montgomery County Port Authority, Revenue Bonds,
Series 1,
6.13%, 01/15/2025		655,000		681,396
East Knox Local School District, General Obligation Unlimited,
BAM,
4.00%, 12/01/2030		260,000		295,740
Euclid City School District, Certificate of Participation,
BAM,
4.00%, 12/01/2044		850,000		930,665
Little Miami Local School District, General Obligation Unlimited,
Series B,
5.00%, 11/01/2048		2,000,000		2,342,600
Ohio Higher Educational Facility Commission, Revenue Bonds
5.75%, 11/15/2035		25,000		25,321
AGM,
5.25%, 11/15/2040		40,000		40,502
Ohio Housing Finance Agency, Revenue Bonds
Series D, GNMA, FNMA, FHLMC,
3.05%, 09/01/2032		2,140,000		2,274,306
3.40%, 09/01/2037		4,145,000		4,414,176
Pinnacle Community Infrastructure Financing Authority, Revenue Bonds,
Series A, AGM,
4.00%, 12/01/2031		930,000		1,044,557
Summit County Development Finance Authority, Revenue Bonds
4.00%, 12/01/2028 - 12/01/2032		570,000		614,221
Series C,
4.00%, 11/15/2024 - 11/15/2025		155,000		173,475

The notes are an integral part of this report. Transamerica Funds Page    20

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Ohio (continued)
Warrensville Heights City School District, General Obligation Unlimited,
Series A, BAM,
5.25%, 12/01/2055		$   1,000,000		$   1,159,490
Willoughby-Eastlake City School District, Certificate of Participation,
BAM,
4.00%, 03/01/2025		145,000		164,068
				29,166,080
Oklahoma - 0.5%
Caddo County Governmental Building Authority, Revenue Bonds,
5.00%, 09/01/2027		435,000		521,247
Cleveland County Educational Facilities Authority, Revenue Bonds,
5.00%, 06/01/2023		45,000		50,786
Garfield County Educational Facilities Authority, Revenue Bonds,
Series A,
5.00%, 09/01/2027		1,315,000		1,611,414
Grady County School Finance Authority, Revenue Bonds
3.00%, 12/01/2028 - 12/01/2030		290,000		297,853
4.00%, 12/01/2023 - 09/01/2029		950,000		1,024,605
5.00%, 09/01/2022 - 12/01/2027		3,725,000		4,387,362
Jefferson County Educational Facilities Authority, Revenue Bonds
3.25%, 12/01/2023		135,000		140,796
3.38%, 12/01/2024		135,000		143,130
Oklahoma Development Finance Authority, Revenue Bonds,
5.00%, 06/01/2020		125,000		126,629
Oklahoma Housing Finance Agency, Revenue Bonds,
Series A, GNMA, FNMA, FHLMC,
2.75%, 09/01/2034		2,030,000		2,104,724
Oklahoma Water Resources Board, Revenue Bonds
OK CERF,
5.00%, 04/01/2020		100,000		100,656
Series B,
4.75%, 04/01/2039		55,000		57,480
				10,566,682
Oregon - 0.9%
County of Jackson Airport Revenue, Revenue Bonds
AGM,
5.00%, 12/01/2030 - 12/01/2032		255,000		308,899
Klamath Falls Intercommunity Hospital Authority, Revenue Bonds,
3.00%, 09/01/2035		820,000		863,304
Oregon State Facilities Authority, Revenue Bonds
Series A,
5.00%, 10/01/2021		440,000		466,316
5.50%, 06/15/2035 (A)		750,000		794,873
State of Oregon Housing & Community Services Department, Revenue Bonds
Series A,
2.45%, 07/01/2034		3,360,000		3,438,826
2.65%, 07/01/2039		7,650,000		7,765,285
Series D,
2.30%, 01/01/2026		795,000		832,596
2.45%, 01/01/2027		1,215,000		1,284,595

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Oregon (continued)
Warm Springs Reservation Confederated Tribe, Revenue Bonds
Series B,
5.00%, 11/01/2034 - 11/01/2036 (A)		$   600,000		$   721,491
				16,476,185
Pennsylvania - 6.6%
Allegheny County Sanitary Authority, Revenue Bonds
AGM,
4.00%, 12/01/2035		295,000		335,804
5.00%, 12/01/2024		30,000		35,862
Allentown City School District, General Obligation Limited,
AGM,
4.00%, 02/15/2023		5,295,000		5,706,421
Altoona Area School District, General Obligation Limited,
BAM,
5.00%, 12/01/2036		255,000		303,175
Bristol Township School District, General Obligation Limited,
BAM-TCRS,
5.00%, 06/01/2027		80,000		89,941
Bucks County Industrial Development Authority, Revenue Bonds
4.00%, 08/15/2050		6,110,000		6,699,065
5.00%, 10/01/2033 - 10/01/2037		1,950,000		2,218,190
Chartiers Valley School District, General Obligation Limited,
Series B,
5.00%, 10/15/2040		10,000		11,670
Cheltenham Township School District, General Obligation Limited,
Series A,
5.00%, 02/15/2033		90,000		104,199
City of Philadelphia Water & Wastewater Revenue, Revenue Bonds,
Series C, AGM,
5.00%, 08/01/2020		110,000		112,208
City of Reading, General Obligation Unlimited,
BAM,
5.00%, 11/01/2021		675,000		717,133
Commonwealth Financing Authority, Revenue Bonds,
Series B-1, AGM,
5.00%, 06/01/2025		2,900,000		3,458,105
Commonwealth of Pennsylvania, General Obligation Unlimited
5.00%, 03/15/2020		150,000		150,710
Series A, AGM-CR,
4.00%, 09/15/2030 - 09/15/2031		19,450,000		22,336,493
County of Lackawanna, General Obligation Unlimited
BAM,
4.00%, 09/15/2032 - 09/15/2033		6,965,000		7,987,418
Cumberland County Municipal Authority, Revenue Bonds
2.50%, 01/01/2021		300,000		301,134
3.00%, 01/01/2022		1,610,000		1,625,794
5.00%, 01/01/2029		1,000,000		1,127,160

The notes are an integral part of this report. Transamerica Funds Page    21

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Pennsylvania (continued)
Delaware Valley Regional Finance Authority, Revenue Bonds,
Series B, AMBAC,
5.70%, 07/01/2027		$   350,000		$   446,359
Erie County Conventional Center Authority, Revenue Bonds,
5.00%, 01/15/2026		1,725,000		2,063,945
Fairview School District, General Obligation Limited
Series A,
4.00%, 02/01/2024 - 02/01/2026		310,000		349,105
Indiana County Hospital Authority, Revenue Bonds,
Series A,
5.50%, 06/01/2029		250,000		272,063
Lancaster Industrial Development Authority, Revenue Bonds,
4.00%, 12/01/2044		1,070,000		1,178,691
Lancaster School District, General Obligation Limited,
Series A, AGM,
5.00%, 06/01/2031		735,000		870,402
Lycoming County Water & Sewer Authority, Revenue Bonds,
AGM,
2.00%, 11/15/2020		230,000		231,585
Nazareth Area School District, General Obligation Limited,
Series D,
5.00%, 11/15/2035		10,000		11,984
Paradise Township Sewer Authority, Revenue Bonds
BAM,
4.00%, 10/15/2035 - 10/15/2038		190,000		207,465
Penn Delco School District, General Obligation Limited,
4.00%, 06/01/2045		2,475,000		2,742,622
Penn Hills School District, General Obligation Limited
BAM,
5.00%, 11/15/2023 - 11/15/2024		180,000		209,392
Series A, BAM,
5.00%, 11/15/2025		110,000		132,868
Pennsylvania Economic Development Financing Authority, Revenue Bonds,
AGM,
5.00%, 01/01/2034		50,000		56,137
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds
4.00%, 08/15/2049		1,295,000		1,485,248
5.00%, 07/15/2020		50,000		50,822
Pennsylvania Housing Finance Agency, Revenue Bonds
2.20%, 04/01/2027		670,000		701,095
2.25%, 10/01/2027		660,000		691,937
2.35%, 04/01/2028		1,405,000		1,463,982
2.40%, 10/01/2028		1,360,000		1,424,954
2.45%, 04/01/2029 - 10/01/2029		2,600,000		2,719,836
2.55%, 04/01/2030		1,280,000		1,343,168
2.60%, 10/01/2030		1,395,000		1,471,111
Series 119,
1.85%, 04/01/2022		620,000		629,641
Series 121,
2.20%, 04/01/2026		1,955,000		2,031,401
2.25%, 10/01/2026		1,275,000		1,321,741
2.35%, 04/01/2027		3,505,000		3,630,584

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Pennsylvania (continued)
Pennsylvania Housing Finance Agency, Revenue Bonds (continued)
Series 124B,
2.30%, 04/01/2026		$   1,365,000		$   1,443,255
2.40%, 10/01/2026		745,000		788,776
2.45%, 04/01/2027		1,600,000		1,689,360
2.55%, 10/01/2027		1,450,000		1,538,870
2.65%, 04/01/2028		1,700,000		1,807,372
2.75%, 10/01/2028		1,580,000		1,681,784
Pennsylvania Turnpike Commission
Series B,
5.00%, 12/01/2037		15,000		16,572
Pennsylvania Turnpike Commission, Revenue Bonds
Series A, AGM,
4.00%, 12/01/2049		11,725,000		13,290,170
Series B,
5.00%, 12/01/2034 - 12/01/2038		1,305,000		1,610,054
Series B, BAM-TCRS,
5.25%, 12/01/2044		8,275,000		9,559,445
Perkasie Regional Authority, Revenue Bonds,
BAM,
2.75%, 02/01/2025		50,000		50,000
Philadelphia Gas Works Co., Revenue Bonds
4.00%, 10/01/2036 - 10/01/2037		300,000		330,163
5.00%, 08/01/2024		150,000		175,808
Pittston Area School District, General Obligation Unlimited,
Series A, MAC,
2.00%, 07/15/2020		100,000		100,431
Reading School District, General Obligation Unlimited
Series A, AGM,
5.00%, 02/01/2026 - 02/01/2027		2,115,000		2,504,012
State Public School Building Authority, Revenue Bonds
5.00%, 09/15/2021 - 09/15/2022		180,000		194,320
5.25%, 03/01/2020		115,000		115,369
AGM,
5.00%, 10/01/2020 - 10/01/2023		260,000		280,883
Series A, AGM,
5.00%, 10/01/2020 - 09/15/2021		975,000		1,027,950
Township of Warrington, General Obligation Unlimited,
2.40%, 12/01/2024		300,000		300,300
Upper Dublin School District, General Obligation Limited
4.00%, 05/15/2037 - 05/15/2043 (F)		1,560,000		1,713,793
ST AID WITHHLDG,
4.00%, 05/15/2044 (F)		285,000		310,676
Wilkes-Barre Area School District, General Obligation Limited
BAM,
4.00%, 04/15/2054		1,505,000		1,676,736
5.00%, 04/15/2059		4,000,000		4,815,200
Wilkes-Barre Area School District, General Obligation Unlimited,
AGM,
5.00%, 04/01/2020		350,000		352,219
York City School District, General Obligation Unlimited,
BAM,
2.00%, 05/01/2020		100,000		100,208
				128,532,346

The notes are an integral part of this report. Transamerica Funds Page    22

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Puerto Rico - 1.4%
Children’s Trust Fund, Revenue Bonds,
5.63%, 05/15/2043		$   125,000		$   127,315
Commonwealth of Puerto Rico, General Obligation Unlimited
AGC-ICC,
5.00%, 07/01/2034		150,000		153,341
AGM,
5.13%, 07/01/2030		10,000		10,289
5.25%, 07/01/2020		60,000		60,788
AGM-CR,
4.50%, 07/01/2023		100,000		100,301
Series A, AGC-ICC,
5.00%, 07/01/2020 - 07/01/2034		565,000		577,004
5.25%, 07/01/2020		275,000		279,122
5.50%, 07/01/2029		140,000		159,284
Series A, AGC-ICC, FGIC,
5.50%, 07/01/2020		175,000		177,476
Series A, AGM,
4.00%, 07/01/2022		470,000		484,734
5.00%, 07/01/2035		1,645,000		1,758,028
5.25%, 07/01/2024		210,000		218,354
6.00%, 07/01/2034		440,000		463,932
Series A-4, AGM,
5.00%, 07/01/2031		115,000		116,299
Series B, AGC-ICC,
5.00%, 07/01/2035		715,000		730,337
Series C, AGM,
5.75%, 07/01/2037		305,000		317,465
Series D, AGM,
4.13%, 07/01/2020		80,000		80,062
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds,
Series A, AGC,
5.13%, 07/01/2047		470,000		483,813
Puerto Rico Convention Center District Authority, Revenue Bonds
Series A, AGC,
4.50%, 07/01/2036		1,765,000		1,769,907
5.00%, 07/01/2027		535,000		549,108
Puerto Rico Electric Power Authority, Revenue Bonds
Series DDD, AGM,
3.65%, 07/01/2024		620,000		620,112
5.00%, 07/01/2023		40,000		40,316
Series RR, AGC,
5.00%, 07/01/2028		345,000		354,060
Series RR, AGM,
5.00%, 07/01/2020		1,075,000		1,088,588
Series SS, AGC,
4.38%, 07/01/2030		145,000		145,355
Series SS, AGM,
5.00%, 07/01/2030		2,100,000		2,151,009
Series TT, AGC-ICC,
5.00%, 07/01/2032		50,000		51,173
Series UU, AGC,
4.25%, 07/01/2027		20,000		20,041
5.00%, 07/01/2026		650,000		667,218
Series UU, AGM,
4.00%, 07/01/2023		120,000		120,049
5.00%, 07/01/2020 - 07/01/2024		1,185,000		1,211,719
Series V, AGM,
5.25%, 07/01/2027		80,000		89,448

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Puerto Rico (continued)
Puerto Rico Highway & Transportation Authority, Revenue Bonds
AGC-ICC,
5.00%, 07/01/2028		$   30,000		$   30,788
Series A, AGC-ICC,
4.75%, 07/01/2038		185,000		188,093
Series A, AGM-CR,
4.75%, 07/01/2038		385,000		391,437
Series CC, AGM,
5.25%, 07/01/2032 - 07/01/2036		495,000		568,368
Series CC, AGM-CR,
5.50%, 07/01/2029 - 07/01/2031		160,000		184,009
Series D, AGM,
5.00%, 07/01/2027 - 07/01/2032		3,575,000		3,661,458
Series E, AGM,
5.50%, 07/01/2020 - 07/01/2023		185,000		195,403
Series M, AGC-ICC,
5.00%, 07/01/2032 - 07/01/2037		1,175,000		1,204,822
Series N, AGC,
5.25%, 07/01/2034 - 07/01/2036		260,000		299,122
Series N, AGM-CR, AGC,
5.25%, 07/01/2034		335,000		385,280
Series N, AGM-CR, AGC-ICC,
5.50%, 07/01/2025		95,000		105,481
Puerto Rico Infrastructure Financing Authority, Revenue Bonds,
Series B, AGC-ICC,
5.00%, 07/01/2041		35,000		35,636
Puerto Rico Municipal Finance Agency, Revenue Bonds
Series A, AGM,
4.20%, 08/01/2020		85,000		85,071
5.00%, 08/01/2021 - 08/01/2030		2,225,000		2,280,750
5.25%, 08/01/2020		105,000		106,574
Series C, AGC,
5.25%, 08/01/2020		110,000		111,741
Puerto Rico Public Buildings Authority, Revenue Bonds
AGC-ICC,
5.25%, 07/01/2033		275,000		285,356
Series I, AGC-ICC,
5.00%, 07/01/2036		495,000		505,212
Series L, AGM-CR,
5.50%, 07/01/2021		125,000		128,514
Series N, AGC-ICC,
5.00%, 07/01/2032		210,000		214,929
				26,144,091
Rhode Island - 1.3%
Providence Public Building Authority, Revenue Bonds
Series A, AGM,
5.00%, 09/15/2024 - 09/15/2037		14,630,000		17,887,365
Providence Redevelopment Agency, Revenue Bonds
Series A, AGM,
5.00%, 04/01/2025		580,000		680,398
Series A, AGM-CR,
5.00%, 04/01/2027		1,200,000		1,408,800
Rhode Island Health & Educational Building Corp., Revenue Bonds
5.00%, 05/15/2028 - 05/15/2029		2,425,000		2,907,009
AGM,
4.00%, 05/15/2024		55,000		61,634
Series C,
5.00%, 09/15/2027		180,000		220,883

The notes are an integral part of this report. Transamerica Funds Page    23

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Rhode Island (continued)
Rhode Island Turnpike & Bridge Authority Revenue, Revenue Bonds,
Series A,
5.00%, 10/01/2024		$   130,000		$   152,914
Tobacco Settlement Financing Corp., Revenue Bonds
Series A,
5.00%, 06/01/2023 - 06/01/2027		1,105,000		1,279,425
				24,598,428
South Carolina - 0.2%
City of Georgetown Combined Public Utility Revenue, Revenue Bonds,
Series A, BAM,
4.00%, 06/01/2029		385,000		437,345
Piedmont Municipal Power Agency, Revenue Bonds,
AGC,
5.75%, 01/01/2034		200,000		212,586
SCAGO Educational Facilities Corp. for Williamsburg School District, Revenue Bonds
Series B, BAM,
5.00%, 12/01/2024 - 12/01/2025		500,000		600,741
South Carolina Jobs-Economic Development Authority, Revenue Bonds,
5.00%, 10/01/2026 (A)		2,725,000		3,019,137
South Carolina Public Service Authority, Revenue Bonds,
Series A, AGM-CR,
5.00%, 12/01/2036		125,000		133,076
South Carolina State Housing Finance & Development Authority, Revenue Bonds,
GNMA, FNMA, FHLMC,
2.00%, 07/01/2020		70,000		70,298
State of South Carolina, General Obligation Unlimited,
3.00%, 04/01/2026		200,000		200,320
				4,673,503
South Dakota - 0.6%
South Dakota Housing Development Authority, Revenue Bonds
Series A,
1.60%, 05/01/2020		100,000		100,016
Series B, GNMA, FNMA, FHLMC,
2.20%, 11/01/2024		665,000		698,795
2.30%, 05/01/2025		250,000		262,613
2.45%, 11/01/2025		290,000		309,073
2.55%, 05/01/2026		1,860,000		1,991,483
2.65%, 11/01/2026		330,000		356,060
2.75%, 05/01/2027		970,000		1,046,126
2.80%, 11/01/2027		1,330,000		1,433,022
2.85%, 05/01/2028		1,210,000		1,303,956
2.95%, 11/01/2028		440,000		475,583
Series C,
2.00%, 05/01/2023		20,000		20,479
Series F, GNMA, FNMA, FHLMC,
2.60%, 05/01/2027		860,000		920,398
2.65%, 11/01/2027		1,285,000		1,373,961
2.70%, 05/01/2028		390,000		417,335
2.75%, 11/01/2028		1,425,000		1,525,904
				12,234,804

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Tennessee - 1.6%
Chattanooga Health Educational & Housing Facility Board, Revenue Bonds,
5.00%, 10/01/2027		$   675,000		$   790,823
City of Jackson, Revenue Bonds,
5.00%, 04/01/2041		150,000		183,180
Greeneville Health & Educational Facilities Board, Revenue Bonds,
Series A,
5.00%, 07/01/2034		2,975,000		3,328,638
Knox County Health Educational & Housing Facility Board, Revenue Bonds,
Series A,
5.00%, 01/01/2026		100,000		120,840
Metropolitan Government Nashville & Davidson County Health & Educational Facilities, Revenue Bonds,
Fixed until 11/03/2020, 1.55% (C), 11/15/2030		100,000		100,363
State of Tennessee, General Obligation Unlimited,
Series A,
5.00%, 10/01/2020		100,000		102,731
Tennessee Housing Development Agency, Revenue Bonds
2.45%, 01/01/2024		260,000		274,656
2.75%, 01/01/2025		40,000		43,390
2.80%, 07/01/2025		280,000		305,329
2.95%, 01/01/2026		45,000		49,637
3.00%, 01/01/2031		450,000		480,983
Series 1C,
2.35%, 07/01/2021		1,075,000		1,092,834
Series 2B,
2.30%, 01/01/2022		285,000		290,854
2.55%, 01/01/2028		340,000		357,581
2.70%, 07/01/2024		195,000		205,312
Series B2,
2.05%, 01/01/2024		890,000		911,360
2.15%, 07/01/2024		265,000		275,001
2.25%, 01/01/2025		1,000,000		1,057,400
2.40%, 07/01/2025		2,000,000		2,142,280
2.55%, 01/01/2026		120,000		130,202
2.60%, 07/01/2026		800,000		855,152
2.80%, 07/01/2027		2,270,000		2,444,609
2.85%, 01/01/2028		3,205,000		3,442,330
2.95%, 07/01/2028		2,655,000		2,862,701
3.00%, 01/01/2029		2,750,000		2,956,608
3.05%, 07/01/2029		3,100,000		3,335,104
3.15%, 01/01/2030		2,820,000		3,038,719
				31,178,617
Texas - 3.2%
Bexar County Health Facilities Development Corp., Revenue Bonds
5.00%, 07/15/2023 - 07/15/2026		570,000		642,733
Board of Managers Joint Guadalupe County-City of Seguin Hospital, Revenue Bonds
5.00%, 12/01/2020 - 12/01/2022		4,060,000		4,249,516
Camino Real Regional Mobility Authority, Revenue Bonds,
AGM,
5.00%, 06/01/2024		420,000		488,473
Centerville Independent School District, General Obligation Unlimited,
4.00%, 08/15/2036		535,000		554,913

The notes are an integral part of this report. Transamerica Funds Page    24

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Texas (continued)
Central Texas Turnpike System, Revenue Bonds,
AGM-CR,
5.00%, 08/15/2041		$   125,000		$   135,903
City of Arlington Special Tax Revenue, Special Tax,
Series C, BAM,
5.00%, 02/15/2045		95,000		98,259
City of Bryan Rural Electric System Revenue, Revenue Bonds,
5.00%, 07/01/2025		30,000		36,208
City of Dallas, Revenue Bonds,
AGC,
5.25%, 08/15/2038		280,000		280,862
City of Houston, General Obligation Limited,
Series A,
5.00%, 03/01/2020		2,800,000		2,808,596
City of Laredo International Toll Bridge System Revenue, Revenue Bonds,
AGM,
5.00%, 10/01/2022		90,000		98,942
City of Pearland, General Obligation Limited,
5.00%, 03/01/2023		25,000		28,010
Clifton Higher Education Finance Corp., Revenue Bonds,
Series A,
5.00%, 08/15/2034		775,000		937,370
Colorado River Municipal Water District, Revenue Bonds,
5.00%, 01/01/2023		760,000		847,780
County of Denton, General Obligation Limited,
4.00%, 07/15/2029		50,000		57,176
Dallas County Flood Control District No. 1, General Obligation Unlimited
5.00%, 04/01/2020 - 04/01/2024 (A)		5,595,000		5,936,412
Dallas/Fort Worth International Airport, Revenue Bonds
Series A,
5.00%, 11/01/2045		50,000		51,519
Series C,
5.00%, 11/01/2034		40,000		45,362
Denton County Fresh Water Supply District No. 10, General Obligation Unlimited,
AGM,
2.75%, 09/01/2030		80,000		82,940
El Paso County Hospital District, General Obligation Limited
5.00%, 08/15/2020 - 08/15/2026		445,000		475,798
Fort Bend County Levee Improvement District No. 15, General Obligation Unlimited
BAM,
4.00%, 09/01/2029 - 09/01/2032		380,000		409,691
Fort Bend County Levee Improvement District No. 17, General Obligation Unlimited,
AGM,
4.70%, 09/01/2035		50,000		50,798
Grand Parkway Transportation Corp., Revenue Bonds,
Series B,
5.00%, 04/01/2053		25,000		27,851

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Texas (continued)
Grant Road Public Utility District, General Obligation Unlimited,
AGC,
3.50%, 10/01/2023		$   750,000		$   751,425
Harris County Municipal Utility District No. 167, General Obligation Unlimited,
BAM,
3.00%, 03/01/2020		850,000		851,173
Harris County Municipal Utility District No. 399, General Obligation Unlimited,
AGM,
4.00%, 09/01/2033		270,000		294,991
Harris County Municipal Utility District No. 412, General Obligation Unlimited,
MAC,
3.00%, 09/01/2021		100,000		102,784
Harris County-Houston Sports Authority, Revenue Bonds
NATL,
Zero Coupon, 11/15/2024		400,000		366,174
Houston Higher Education Finance Corp., Revenue Bonds
5.00%, 08/15/2020 - 08/15/2024		615,000		701,542
Hunt Memorial Hospital District Charitable Health, General Obligation Limited,
5.00%, 02/15/2024		15,000		17,130
Keller Independent School District, General Obligation Unlimited,
5.00%, 08/15/2020		175,000		178,845
Love Field Airport Modernization Corp., Revenue Bonds,
5.25%, 11/01/2040		30,000		30,879
Lower Colorado River Authority, Revenue Bonds,
5.00%, 05/15/2020		35,000		35,401
Montgomery County Municipal Utility District No. 113, General Obligation Unlimited,
AGM,
3.00%, 09/01/2033		150,000		156,793
Montgomery County Municipal Utility District No. 119, General Obligation Unlimited,
BAM,
4.00%, 04/01/2024		275,000		304,054
New Hope Cultural Education Facilities Finance Corp., Revenue Bonds
3.00%, 07/01/2021 - 01/01/2024		705,000		705,535
4.00%, 07/01/2023 - 07/01/2028		2,385,000		2,439,437
5.00%, 01/01/2022 - 01/01/2028		3,835,000		4,238,692
Series A1,
4.00%, 07/01/2021 - 07/01/2036		2,255,000		2,370,038
5.00%, 07/01/2031 - 07/01/2046		1,815,000		2,005,848
Series B,
4.00%, 07/01/2021 - 07/01/2031		2,785,000		2,858,162
4.25%, 07/01/2036		885,000		914,055
Series B1, AGM,
5.00%, 07/01/2058		750,000		863,212
Series C,
5.00%, 07/01/2022 - 07/01/2026		635,000		676,542
North Central Texas Health Facility Development Corp., Revenue Bonds,
5.00%, 08/15/2022		90,000		98,948

The notes are an integral part of this report. Transamerica Funds Page    25

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Texas (continued)
North East Independent School District, General Obligation Unlimited,
Series B,
Fixed until 08/01/2021, 1.42% (C), 08/01/2040		$   5,575,000		$   5,586,206
Northeast Higher Education Finance Corp., Revenue Bonds,
Series A,
4.00%, 08/15/2025		80,000		88,490
Northwoods Road District No. 1, General Obligation Unlimited
BAM,
4.00%, 08/15/2024 - 08/15/2027		405,000		463,879
Old Spanish Trail-Alemda Corridors Redevelopment Authority, Tax Allocation
BAM,
4.00%, 09/01/2036 - 09/01/2037		2,450,000		2,820,323
Pottsboro Higher Education Finance Corp., Revenue Bonds,
Series A,
3.88%, 08/15/2026		415,000		437,647
Red River Education Finance Corp., Revenue Bonds,
4.25%, 03/15/2038		195,000		195,733
Sam Rayburn Municipal Power Agency, Revenue Bonds,
5.00%, 10/01/2020		1,210,000		1,240,117
State of Texas, General Obligation Unlimited,
5.00%, 08/01/2020		110,000		112,241
State of Texas, Revenue Bonds,
4.00%, 08/27/2020		225,000		228,881
Texas Public Finance Authority, Revenue Bonds,
BAM,
4.00%, 05/01/2029		150,000		167,901
Travis County Municipal Utility District No. 4, General Obligation Unlimited,
AGM,
4.00%, 09/01/2035		450,000		476,140
Trophy Club Public Improvement District No. 1, Special Assessment,
AGM,
3.00%, 06/01/2024		98,000		104,018
University of Houston, Revenue Bonds,
Series A,
5.00%, 02/15/2024		40,000		41,666
University of Texas System, Revenue Bonds,
Series B,
Fixed until 08/15/2021, 2.50% (C), 08/15/2036		8,180,000		8,259,837
Viridian Municipal Management District, General Obligation Unlimited
BAM,
6.00%, 12/01/2024 - 12/01/2031		1,785,000		2,181,097
Washington County Junior College District, Revenue Bonds,
BAM,
5.00%, 10/01/2024		485,000		569,041
				62,279,989
Utah - 0.4%
City of South Jordan, Special Assessment,
3.13%, 11/01/2036		2,210,000		2,339,130

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Utah (continued)
Jordan Valley Water Conservancy District, Revenue Bonds
Series A,
5.00%, 10/01/2034 - 10/01/2035		$   970,000		$   1,031,329
Utah Charter School Finance Authority, Revenue Bonds
4.00%, 10/15/2021 - 10/15/2031		890,000		972,363
4.25%, 04/15/2034		120,000		130,578
4.30%, 04/15/2025 (A)		500,000		501,285
Series A,
5.00%, 10/15/2024 - 10/15/2025		1,035,000		1,210,432
Series G,
4.00%, 10/15/2022 - 10/15/2028		1,110,000		1,246,281
				7,431,398
Vermont - 0.6%
City of Burlington, General Obligation Unlimited
Series A,
5.00%, 11/01/2034 - 11/01/2035		290,000		365,574
Series A, AGM,
5.00%, 11/01/2032 - 11/01/2035		1,105,000		1,227,721
City of Burlington Waterworks System Revenue, Revenue Bonds,
5.00%, 11/01/2034		125,000		157,861
Vermont Educational & Health Buildings Financing Agency, Revenue Bonds
Series A,
5.00%, 12/01/2026 - 12/01/2027		1,175,000		1,438,408
Vermont Housing Finance Agency, Revenue Bonds
Series A, GNMA, FNMA, FHLMC,
3.13%, 11/01/2042		950,000		991,515
Series D, GNMA, FNMA, FHLMC,
2.60%, 11/01/2026		330,000		360,786
2.90%, 05/01/2029		275,000		295,586
3.15%, 05/01/2033		1,900,000		2,017,401
Vermont Municipal Bond Bank, Revenue Bonds,
4.00%, 10/01/2040 (F)		500,000		582,405
Vermont Public Power Supply Authority, Revenue Bonds
Series A,
4.00%, 07/01/2020 - 07/01/2021		315,000		323,440
5.00%, 07/01/2022 - 07/01/2027		3,105,000		3,608,741
				11,369,438
Virginia - 0.3%
Alexandria Industrial Development Authority, Revenue Bonds,
4.00%, 10/01/2020		655,000		667,157
Henrico County Economic Development Authority, Revenue Bonds,
Series C,
3.50%, 12/01/2027		445,000		468,661
Town of Culpeper, General Obligation Unlimited,
4.00%, 08/01/2020		25,000		25,391
Virginia Commonwealth University Health System Authority, Revenue Bonds,
4.00%, 07/01/2020		50,000		50,623
Virginia Housing Development Authority, Revenue Bonds
Series E,
2.45%, 12/01/2027		830,000		887,029
2.60%, 12/01/2028		800,000		855,768

The notes are an integral part of this report. Transamerica Funds Page    26

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
Virginia - 0.3%
Virginia Polytechnic Institute & State University, Revenue Bonds,
5.00%, 06/01/2020		$   25,000		$   25,339
Virginia Small Business Financing Authority, Revenue Bonds,
4.00%, 11/01/2036 (F)		1,900,000		2,266,719
				5,246,687
Washington - 0.7%
Central Puget Sound Regional Transit Authority, Revenue Bonds,
NATL,
4.75%, 02/01/2028		50,000		57,546
County of King, General Obligation Limited,
4.00%, 06/01/2020		25,000		25,257
Port of Vancouver, Revenue Bonds,
Series B, AGM,
5.00%, 12/01/2048		930,000		1,142,691
Seattle Housing Authority, Revenue Bonds,
Series A,
3.40%, 12/01/2032		450,000		489,420
State of Washington, General Obligation Unlimited,
Series R,
5.00%, 07/01/2020		100,000		101,704
Washington Economic Development Finance Authority, Revenue Bonds,
5.00%, 06/01/2020		120,000		121,619
Washington Health Care Facilities Authority, Revenue Bonds
Series A,
5.00%, 08/15/2020		35,000		35,748
Series B,
5.00%, 10/01/2026		75,000		93,237
Washington State Housing Finance Commission, Revenue Bonds
3.20%, 07/01/2021 (A)		260,000		261,635
3.70%, 07/01/2023 (A)		165,000		168,744
5.00%, 07/01/2033 (A)		375,000		415,177
Series 2N, GNMA, FNMA, FHLMC,
2.20%, 12/01/2025		90,000		95,517
2.35%, 06/01/2026		175,000		185,665
Series 3N, GNMA, FNMA, FHLMC,
2.25%, 06/01/2024		780,000		817,885
2.30%, 12/01/2024		595,000		627,683
2.40%, 06/01/2025		810,000		862,042
2.45%, 12/01/2025		565,000		604,279
2.60%, 06/01/2026		845,000		914,611
2.65%, 12/01/2026		620,000		675,143
2.70%, 06/01/2027		785,000		859,944
2.75%, 12/01/2027		805,000		882,103
2.80%, 06/01/2028		925,000		1,011,238
2.85%, 12/01/2028		640,000		698,291
3.25%, 12/01/2032		1,500,000		1,611,660
Series 3N-R, GNMA, FNMA, FHLMC,
2.05%, 12/01/2022		645,000		663,589
				13,422,428
West Virginia - 0.2%
City of Buckhannon, Revenue Bonds
Series C,
4.25%, 08/01/2022 - 08/01/2023		1,090,000		1,090,931

	Principal		Value
MUNICIPAL GOVERNMENT OBLIGATIONS (continued)
West Virginia (continued)
West Virginia Economic Development Authority, Revenue Bonds,
Fixed until 06/01/2022, 2.63% (C), 12/01/2042		$   800,000		$   824,632
West Virginia Housing Development Fund, Revenue Bonds
Series B,
2.60%, 11/01/2034		1,060,000		1,090,634
3.70%, 11/01/2032		1,500,000		1,640,355
				4,646,552
Wisconsin - 1.0%
Milwaukee Area Technical College District, General Obligation Unlimited,
Series C,
4.00%, 06/01/2020		145,000		146,459
Milwaukee Housing Authority, Revenue Bonds,
Series A,
3.38%, 07/01/2029		200,000		215,928
Northcentral Technical College District, General Obligation Unlimited,
3.00%, 03/01/2020		250,000		250,398
Public Finance Authority, Revenue Bonds
4.00%, 09/01/2029 (A)		850,000		926,696
Series A,
5.00%, 06/01/2027 - 07/01/2038		725,000		853,809
Series A, AGM,
5.00%, 07/01/2036 - 07/01/2054		1,225,000		1,468,543
State of Wisconsin, General Obligation Unlimited,
Series 1,
5.00%, 05/01/2020		200,000		202,012
Village of Waterford, General Obligation Unlimited,
Series A,
3.00%, 04/01/2020		300,000		300,948
Wisconsin Health & Educational Facilities Authority, Revenue Bonds
3.50%, 08/01/2022		910,000		920,856
5.00%, 08/15/2022 - 08/01/2032		2,325,000		2,691,566
Class B,
4.25%, 07/01/2033		1,250,000		1,321,437
5.00%, 07/01/2053		1,000,000		1,074,460
Series A,
5.25%, 10/15/2039		15,000		15,851
Series A1,
5.00%, 07/01/2038		5,000,000		5,574,200
Series B-4,
Fixed until 06/01/2021, 5.00% (C), 11/15/2043		105,000		110,427
Wisconsin Housing & Economic Development Authority, Revenue Bonds,
Series B, FNMA,
3.15%, 09/01/2030		3,885,000		3,940,322
				20,013,912
Wyoming - 0.2%
Wyoming Community Development Authority, Revenue Bonds,
Series 2,
2.95%, 06/01/2033		3,860,000		4,019,071
Total Municipal Government Obligations (Cost $1,739,476,044)				1,829,065,672

The notes are an integral part of this report. Transamerica Funds Page    27

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
EXCHANGE-TRADED FUND - 0.1%
U.S. Fixed Income Fund - 0.1%
VanEck Vectors High-Yield Municipal Index ETF		40,000		$   2,612,000
Total Exchange-Traded Fund (Cost $2,565,515)				2,612,000
INVESTMENT COMPANIES - 0.5%
U.S. Fixed Income Funds - 0.5%
Nuveen AMT-Free Quality Municipal Income Fund		303,394		4,472,028
ProShares UltraShort 20+ Year Treasury Bond		175,000		4,004,000
Putnam Managed Municipal Income Trust		62,000		505,300
Total Investment Companies (Cost $9,816,459)				8,981,328

	Principal		Value
REPURCHASE AGREEMENT - 4.8%
Fixed Income Clearing Corp., 0.85% (H), dated 01/31/2020, to be repurchased at $93,290,299 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $95,153,940.		$  93,283,691		$   93,283,691
Total Repurchase Agreement (Cost $93,283,691)				93,283,691
Total Investments (Cost $1,845,141,709)				1,933,942,691
Net Other Assets (Liabilities) - 0.2%				2,991,326
Net Assets - 100.0%				$  1,936,934,017

SECURITY VALUATION:

Valuation Inputs ^(I)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Municipal Government Obligations	$	—	$	1,829,065,672	$	—	$	1,829,065,672
Exchange-Traded Fund		2,612,000		—		—		2,612,000
Investment Companies		8,981,328		—		—		8,981,328
Repurchase Agreement		—		93,283,691		—		93,283,691
Total Investments	$	11,593,328	$	1,922,349,363	$	—	$	1,933,942,691

The notes are an integral part of this report. Transamerica Funds Page    28

Transamerica Intermediate Muni

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)

Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $35,978,889, representing 1.9% of the Fund’s net assets.

(B)

Restricted security. At January 31, 2020, the value of such security held by the Fund is as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Municipal Government Obligations	BluePath Trust Revenue Bonds 2.75%, 09/01/2026		06/27/2016	$	4,547,546	$	4,714,873		0.2	%

(C)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)	Step bonds. Coupon rates change in increments to maturity. The rates disclosed are as of January 31, 2020; the maturity dates disclosed are the ultimate maturity dates.
(E)	Percentage rounds to less than 0.1% or (0.1)%.
(F)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(G)	Securities in default; partial receipt of interest payments and/or dividends declared at last payment date. At January 31, 2020, the total value of such securities is $925,650, representing less than 0.1% of the Fund’s net assets.
(H)	Rate disclosed reflects the yield at January 31, 2020.
(I)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

MUNICIPAL INSURER ABBREVIATIONS:

AGC	Assured Guaranty Corp.
AGM	Assured Guaranty Municipal Corp.
AMBAC	AMBAC Financial Group, Inc.
BAM	Build America Mutual Assurance Co.
FGIC	Financial Guaranty Insurance Co.
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association
GNMA	Government National Mortgage Association
MAC	Municipal Assurance Corp.
NATL	National Public Finance Guarantee Corp.

PORTFOLIO ABBREVIATIONS:

AMT	Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.
CR	Custodial Receipts
IBC	Insured Bond Certificate
ICC	Insured Custody Certificate
MTA	Month Treasury Average
TCRS	Temporary Custodian Receipts

The notes are an integral part of this report. Transamerica Funds Page    29

Transamerica International Equity

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 98.9%
Australia - 4.1%
BHP Group PLC, ADR		242,469		$  10,530,429
Challenger, Ltd. (A)		4,285,939		25,374,495
LendLease Group		1,590,000		19,096,312
Macquarie Group, Ltd.		567,100		54,186,565
Qantas Airways, Ltd.		12,654,170		53,651,063
Santos, Ltd.		5,410,700		31,054,262
				193,893,126
Belgium - 2.1%
Groupe Bruxelles Lambert SA		424,920		42,701,759
KBC Group NV		758,200		55,633,166
				98,334,925
Brazil - 0.9%
Embraer SA, ADR (B)		2,601,675		43,812,207
China - 0.4%
Baidu, Inc., ADR (B)		155,900		19,263,004
Denmark - 1.2%
AP Moller - Maersk A/S, Class B		34,535		41,295,705
Maersk Drilling A/S (B)		246,370		13,749,714
				55,045,419
France - 8.6%
Airbus SE		66,400		9,751,765
Arkema SA		419,360		38,425,630
Dassault Aviation SA		12,566		15,302,075
Engie SA		5,353,000		92,142,825
Rexel SA		2,218,517		26,538,106
Sanofi		821,801		79,253,104
TOTAL SA		993,300		48,364,467
Veolia Environnement SA		2,279,951		67,259,413
Vivendi SA		1,190,924		32,570,895
				409,608,280
Germany - 12.3%
Allianz SE		324,702		77,520,467
Bayer AG		676,952		54,329,113
Deutsche Boerse AG		304,000		49,346,334
Fresenius SE & Co. KGaA		1,224,500		62,523,365
HeidelbergCement AG		1,058,900		71,413,428
Infineon Technologies AG		3,095,927		66,509,621
SAP SE		565,947		73,703,916
Siemens AG		675,395		83,301,934
Talanx AG (B)		448,384		22,376,271
TUI AG		2,421,630		24,660,339
				585,684,788
Hong Kong - 3.1%
China Mobile, Ltd.		4,690,300		38,552,632
CK Asset Holdings, Ltd.		6,131,000		39,170,670
CK Hutchison Holdings, Ltd.		7,849,800		69,358,555
				147,081,857
Ireland - 3.4%
AIB Group PLC		10,549,900		30,930,654
DCC PLC		655,531		52,928,852

	Shares		Value
COMMON STOCKS (continued)
Ireland (continued)
Ryanair Holdings PLC, ADR (B)		171,672		$   14,868,512
Smurfit Kappa Group PLC		1,778,715		61,511,460
				160,239,478
Italy - 3.0%
Eni SpA		3,616,315		50,655,807
Mediobanca Banca di Credito Finanziario SpA		2,230,292		22,248,486
Prysmian SpA		1,454,722		32,268,764
UniCredit SpA		2,850,800		38,078,991
				143,252,048
Japan - 27.1%
Astellas Pharma, Inc.		4,035,200		71,302,470
Daiwa Securities Group, Inc.		7,569,000		38,278,486
Denka Co., Ltd.		1,032,280		27,886,553
FANUC Corp.		266,300		48,501,185
Fujitsu, Ltd.		386,560		40,872,024
Hitachi, Ltd.		1,946,880		74,151,771
Japan Airlines Co., Ltd.		1,580,500		44,460,157
JXTG Holdings, Inc.		14,843,900		63,133,722
Kirin Holdings Co., Ltd.		1,563,800		34,344,975
Kuraray Co., Ltd. (A)		3,450,300		41,474,271
Kyocera Corp.		679,600		44,654,022
Matsumotokiyoshi Holdings Co., Ltd.		315,900		12,631,719
MS&AD Insurance Group Holdings, Inc.		370,600		12,308,615
Nintendo Co., Ltd.		127,100		46,754,448
Olympus Corp.		4,175,500		67,464,551
ORIX Corp.		4,626,900		78,159,731
Rakuten, Inc.		6,102,700		47,078,984
Sega Sammy Holdings, Inc.		3,279,300		44,654,959
Seven & i Holdings Co., Ltd.		2,258,000		86,579,199
SoftBank Group Corp.		379,900		15,338,293
Sony Corp.		1,542,200		107,841,172
Square Enix Holdings Co., Ltd.		663,400		32,565,976
Sumitomo Mitsui Financial Group, Inc. (A)		2,477,600		87,110,893
Toshiba Corp.		1,842,550		58,888,556
Toyota Industries Corp.		1,193,900		64,575,121
				1,291,011,853
Luxembourg - 0.7%
ArcelorMittal SA		2,419,035		35,530,810
Netherlands - 5.5%
ASML Holding NV		169,000		47,427,656
EXOR NV		219,600		16,181,901
Heineken Holding NV		715,285		70,296,577
Koninklijke Philips NV		1,425,527		65,285,471
NXP Semiconductors NV		510,900		64,812,774
				264,004,379
Norway - 0.8%
Mowi ASA		1,551,500		37,005,996
Republic of Korea - 0.8%
Samsung Electronics Co., Ltd.		824,800		38,215,450
Singapore - 1.3%
DBS Group Holdings, Ltd.		3,366,700		62,018,130
Spain - 0.9%
Siemens Gamesa Renewable Energy SA		2,752,817		43,876,054
Sweden - 0.7%
Investor AB, B Shares		642,172		35,162,126

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica International Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Switzerland - 8.1%
ABB, Ltd.		3,414,100		$   79,486,851
Glencore PLC (B)		5,663,300		16,562,847
Nestle SA		905,364		99,854,950
Novartis AG		754,715		71,296,490
Roche Holding AG		121,100		40,625,217
UBS Group AG (B)		6,177,874		76,726,809
				384,553,164
United Kingdom - 13.9%
Ashtead Group PLC		766,700		24,747,465
Aviva PLC		13,947,101		73,089,635
Barratt Developments PLC		1,967,700		20,833,083
British Land Co. PLC, REIT		7,224,000		52,831,626
IG Group Holdings PLC		2,277,800		19,966,006
Imperial Brands PLC		2,453,794		62,920,738
Inchcape PLC		4,999,896		43,377,517
Informa PLC		2,879,174		29,410,747
Persimmon PLC		1,188,521		47,847,592
Savills PLC		769,291		12,637,157
Smith & Nephew PLC		985,400		23,709,610
Tesco PLC		24,710,800		80,372,318
Unilever PLC		1,569,414		93,617,620
Vodafone Group PLC		38,843,620		76,316,743
				661,677,857
Total Common Stocks (Cost $4,463,956,859)				4,709,270,951

	Shares		Value
OTHER INVESTMENT COMPANY - 0.4%
Securities Lending Collateral - 0.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		18,520,980		$   18,520,980
Total Other Investment Company (Cost $18,520,980)				18,520,980
	Principal		Value
REPURCHASE AGREEMENT - 0.4%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $16,986,692 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $17,325,406.		$  16,985,489		16,985,489
Total Repurchase Agreement (Cost $16,985,489)				16,985,489
Total Investments (Cost $4,499,463,328)				4,744,777,420
Net Other Assets (Liabilities) - 0.3%				15,293,519
Net Assets - 100.0%				$  4,760,070,939

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Pharmaceuticals		6.7	%		$    316,806,394
Banks		6.2			296,020,320
Industrial Conglomerates		5.6			264,477,897
Capital Markets		5.0			238,504,200
Diversified Financial Services		4.2			197,580,012
Oil, Gas & Consumable Fuels		4.1			193,208,258
Insurance		3.9			185,294,988
Food & Staples Retailing		3.8			179,583,236
Semiconductors & Semiconductor Equipment		3.8			178,750,051
Household Durables		3.7			176,521,847
Multi-Utilities		3.4			159,402,238
Health Care Equipment & Supplies		3.3			156,459,632
Electrical Equipment		3.3			155,631,669
Food Products		2.9			136,860,946
Wireless Telecommunication Services		2.7			130,207,668
Electronic Equipment, Instruments & Components		2.5			118,805,793
Airlines		2.4			112,979,732
Entertainment		2.4			111,891,319
Chemicals		2.3			107,786,454
Beverages		2.2			104,641,552
Personal Products		2.0			93,617,620
Software		1.5			73,703,916
Construction Materials		1.5			71,413,428
Real Estate Management & Development		1.5			70,904,139
Aerospace & Defense		1.4			68,866,047

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica International Equity

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY (continued):

Industry (continued)	Percentage of Total Investments			Value
Auto Components		1.4	%		$     64,575,121
Tobacco		1.3			62,920,738
Metals & Mining		1.3			62,624,086
Health Care Providers & Services		1.3			62,523,365
Containers & Packaging		1.3			61,511,460
Equity Real Estate Investment Trusts		1.1			52,831,626
Trading Companies & Distributors		1.1			51,285,571
Machinery		1.0			48,501,185
Internet & Direct Marketing Retail		1.0			47,078,984
Leisure Products		0.9			44,654,959
Distributors		0.9			43,377,517
Marine		0.9			41,295,705
IT Services		0.9			40,872,024
Technology Hardware, Storage & Peripherals		0.8			38,215,450
Media		0.6			29,410,747
Hotels, Restaurants & Leisure		0.5			24,660,339
Interactive Media & Services		0.4			19,263,004
Energy Equipment & Services		0.3			13,749,714
Investments		99.3			4,709,270,951
Short-Term Investments		0.7			35,506,469
Total Investments		100.0	%		$    4,744,777,420

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	153,286,926	$	4,555,984,025	$	—	$	4,709,270,951
Other Investment Company		18,520,980		—		—		18,520,980
Repurchase Agreement		—		16,985,489		—		16,985,489
Total Investments	$	171,807,906	$	4,572,969,514	$	—	$	4,744,777,420

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 $17,629,382. 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)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
REIT	Real Estate Investment Trust

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica International Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.8%
Australia - 1.5%
Northern Star Resources, Ltd.		2,084,961		$  17,960,173
Austria - 2.0%
Erste Group Bank AG (A)		639,500		23,480,745
China - 7.3%
ANTA Sports Products, Ltd.		3,501,200		30,482,073
Ping An Insurance Group Co. of China, Ltd., H Shares		2,004,000		22,660,933
Tencent Holdings, Ltd.		696,600		33,220,974
				86,363,980
Finland - 2.2%
Neste OYJ		672,172		26,747,536
France - 9.1%
Airbus SE		153,800		22,587,672
AXA SA		1,073,401		28,543,404
TOTAL SA		544,153		26,495,188
Vinci SA		281,465		31,183,239
				108,809,503
Germany - 4.4%
Bayerische Motoren Werke AG		313,415		22,325,003
Henkel AG & Co. KGaA		148,481		13,680,381
Knorr-Bremse AG		148,179		16,188,921
				52,194,305
Ireland - 5.0%
Kingspan Group PLC		486,766		30,042,519
Smurfit Kappa Group PLC		839,589		29,034,637
				59,077,156
Israel - 2.2%
Nice, Ltd., ADR (A) (B)		148,892		25,654,092
Italy - 3.7%
Enel SpA		5,016,700		43,727,132
Japan - 16.7%
Asahi Group Holdings, Ltd.		660,400		30,614,827
Haseko Corp.		1,731,900		22,580,415
Koito Manufacturing Co., Ltd.		384,200		16,672,902
Minebea Mitsumi, Inc.		1,239,300		24,074,637
Nidec Corp.		99,800		12,551,916
Nitori Holdings Co., Ltd.		127,300		19,782,541
Open House Co., Ltd.		605,000		16,082,945
SoftBank Group Corp.		498,800		20,138,828
Sushiro Global Holdings, Ltd.		202,500		16,993,344
Takeda Pharmaceutical Co., Ltd.		516,242		19,825,438
				199,317,793
Luxembourg - 2.8%
Aroundtown SA		3,480,714		32,951,285
Netherlands - 2.4%
Euronext NV (C)		330,572		28,654,932
New Zealand - 1.3%
a2 Milk Co., Ltd. (A)		1,587,900		15,195,787

	Shares		Value
COMMON STOCKS (continued)
Norway - 4.6%
DNB ASA		1,733,695		$   30,309,444
Equinor ASA		1,330,711		24,016,104
				54,325,548
Republic of Korea - 2.1%
Samsung Electronics Co., Ltd.		547,400		25,362,678
Spain - 2.0%
Iberdrola SA		2,181,100		23,864,152
Iberdrola SA (A) (D)		40,391		442,130
				24,306,282
Sweden - 2.2%
Epiroc AB, Class A		260,900		3,018,225
Epiroc AB, Class B		2,012,189		22,741,149
				25,759,374
Switzerland - 7.5%
Lonza Group AG		57,096		23,448,743
Roche Holding AG		117,209		39,319,910
Swiss Life Holding AG		53,114		26,699,039
				89,467,692
Taiwan - 1.7%
Taiwan Semiconductor Manufacturing Co., Ltd., ADR		385,120		20,773,373
United Kingdom - 17.1%
Ashtead Group PLC		777,668		25,101,489
Beazley PLC		3,200,458		22,840,682
British American Tobacco PLC		573,102		25,270,879
Compass Group PLC		1,313,883		32,482,085
GlaxoSmithKline PLC		1,477,960		34,701,629
Legal & General Group PLC		6,010,657		24,174,280
Rio Tinto PLC, ADR		465,400		24,866,322
Smith & Nephew PLC		577,800		13,902,387
				203,339,753
Total Common Stocks (Cost $1,082,139,489)				1,163,469,119
OTHER INVESTMENT COMPANY - 0.3%
Securities Lending Collateral - 0.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (E)		4,100,599		4,100,599
Total Other Investment Company (Cost $4,100,599)				4,100,599
	Principal		Value
REPURCHASE AGREEMENT - 0.8%
Fixed Income Clearing Corp., 0.85% (E), dated 01/31/2020, to be repurchased at $10,017,343 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $10,218,474.		$  10,016,634		10,016,634
Total Repurchase Agreement (Cost $10,016,634)				10,016,634
Total Investments (Cost $1,096,256,722)				1,177,586,352
Net Other Assets (Liabilities) - 1.1%				13,005,896
Net Assets - 100.0%				$  1,190,592,248

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica International Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Insurance		10.6	%		$    124,918,338
Pharmaceuticals		8.0			93,846,977
Oil, Gas & Consumable Fuels		6.6			77,258,828
Electric Utilities		5.8			68,033,414
Machinery		5.6			66,022,932
Banks		4.6			53,790,189
Hotels, Restaurants & Leisure		4.2			49,475,429
Real Estate Management & Development		4.2			49,034,230
Metals & Mining		3.6			42,826,495
Interactive Media & Services		2.8			33,220,974
Construction & Engineering		2.6			31,183,239
Beverages		2.6			30,614,827
Textiles, Apparel & Luxury Goods		2.6			30,482,073
Building Products		2.5			30,042,519
Containers & Packaging		2.5			29,034,637
Capital Markets		2.4			28,654,932
Software		2.2			25,654,092
Technology Hardware, Storage & Peripherals		2.1			25,362,678
Tobacco		2.1			25,270,879
Trading Companies & Distributors		2.1			25,101,489
Life Sciences Tools & Services		2.0			23,448,743
Aerospace & Defense		1.9			22,587,672
Household Durables		1.9			22,580,415
Automobiles		1.9			22,325,003
Semiconductors & Semiconductor Equipment		1.8			20,773,373
Wireless Telecommunication Services		1.7			20,138,828
Specialty Retail		1.7			19,782,541
Auto Components		1.4			16,672,902
Food Products		1.3			15,195,787
Health Care Equipment & Supplies		1.2			13,902,387
Household Products		1.2			13,680,381
Electrical Equipment		1.1			12,551,916
Investments		98.8			1,163,469,119
Short-Term Investments		1.2			14,117,233
Total Investments		100.0	%		$    1,177,586,352

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica International Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(F)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	71,293,787	$	1,092,175,332	$	—	$	1,163,469,119
Other Investment Company		4,100,599		—		—		4,100,599
Repurchase Agreement		—		10,016,634		—		10,016,634
Total Investments	$	75,394,386	$	1,102,191,966	$	—	$	1,177,586,352

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the security is on loan. The value of the security on loan is $4,020,104. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(C)	Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the security is deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the value of the 144A security is $28,654,932, representing 2.4% 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, 2020, the value of the security is $442,130, representing less than 0.1% of the Fund’s net assets.
(E)	Rates disclosed reflect the yields at January 31, 2020.
(F)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica International Small Cap Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 99.0%
Australia - 3.3%
BlueScope Steel, Ltd.		458,500		$  4,291,087
Charter Hall Group, REIT		364,532		3,110,352
IMF Bentham, Ltd. (A) (B)		2,689,669		8,498,193
LendLease Group		114,700		1,377,577
Senex Energy, Ltd. (A)		10,795,700		2,235,020
				19,512,229
Austria - 0.4%
ams AG (A)		62,900		2,556,078
Belgium - 4.2%
Barco NV		26,862		6,679,202
D’ieteren SA		139,108		8,978,960
Fagron		378,748		8,767,691
				24,425,853
Denmark - 2.1%
Scandinavian Tobacco Group A/S, Class A (C)		468,028		6,136,967
Schouw & Co. A/S		76,367		6,262,006
				12,398,973
Finland - 1.0%
Raisio OYJ, V Shares		1,427,483		5,825,990
France - 3.6%
ICADE, REIT		66,600		7,445,360
Kaufman & Broad SA		125,729		5,334,962
Rothschild & Co.		295,719		7,941,211
				20,721,533
Germany - 5.8%
Bertrandt AG		49,309		2,854,616
DIC Asset AG		509,978		9,558,485
Gerresheimer AG		105,200		8,336,215
Hamburger Hafen und Logistik AG		247,740		6,096,800
SAF-Holland SA		535,400		3,728,970
Takkt AG		255,813		3,358,480
				33,933,566
Greece - 0.6%
Motor Oil Hellas Corinth Refineries SA		177,151		3,761,605
Hong Kong - 3.5%
First Pacific Co., Ltd.		9,232,350		2,897,836
Great Eagle Holdings, Ltd.		1,184,693		3,612,092
Kerry Logistics Network, Ltd.		5,284,500		8,430,335
NewOcean Energy Holdings, Ltd. (A)		7,639,020		1,081,931
Pacific Textiles Holdings, Ltd.		6,407,200		4,143,200
				20,165,394
Ireland - 4.6%
Bank of Ireland Group PLC		1,246,100		6,068,788
C&C Group PLC		221,900		1,049,008
Grafton Group PLC		400,900		4,870,373
Greencore Group PLC		1,737,100		5,619,344
Smurfit Kappa Group PLC		263,510		9,112,694
				26,720,207

	Shares		Value
COMMON STOCKS (continued)
Italy - 2.4%
Danieli & C Officine Meccaniche SpA		211,890		$   2,119,668
doValue SpA (C)		286,100		3,744,129
Prysmian SpA		376,252		8,346,053
				14,209,850
Japan - 30.9%
Aida Engineering, Ltd.		359,700		2,883,316
Air Water, Inc.		332,900		4,572,419
Capcom Co., Ltd.		454,600		12,862,575
Chugoku Marine Paints, Ltd.		105,200		977,737
Daiichikosho Co., Ltd.		53,800		2,613,466
Denka Co., Ltd.		379,760		10,259,036
DTS Corp.		281,800		6,531,011
GMO internet, Inc.		227,100		4,353,438
Hakuhodo DY Holdings, Inc.		323,300		4,580,849
Hikari Tsushin, Inc.		31,100		7,644,499
Horiba, Ltd.		105,100		6,500,845
Hosokawa Micron Corp.		41,600		1,908,420
Kaken Pharmaceutical Co., Ltd.		110,100		5,805,755
Kenedix, Inc.		1,137,100		5,719,904
Kintetsu World Express, Inc.		559,100		8,915,994
Kumiai Chemical Industry Co., Ltd. (B)		692,500		5,311,934
Kyushu Railway Co.		132,200		4,325,496
Matsumotokiyoshi Holdings Co., Ltd.		195,900		7,833,345
Meitec Corp.		81,200		4,615,866
Nakanishi, Inc.		529,200		9,440,054
Nichiha Corp.		201,800		4,850,442
Nippon Parking Development Co., Ltd.		2,102,500		2,766,828
Rohto Pharmaceutical Co., Ltd.		185,000		5,120,938
Sanwa Holdings Corp.		906,600		9,536,592
Shinoken Group Co., Ltd.		352,900		3,928,229
Square Enix Holdings Co., Ltd.		229,100		11,246,405
Takasago Thermal Engineering Co., Ltd.		291,900		5,069,165
Token Corp.		79,400		5,491,825
Trend Micro, Inc.		115,100		6,014,019
Wakita & Co., Ltd.		329,000		3,043,319
Welcia Holdings Co., Ltd. (B)		95,200		5,227,780
				179,951,501
Netherlands - 4.8%
ASM International NV		134,500		16,345,307
Euronext NV (C)		34,300		2,973,222
Intertrust NV (C)		489,700		8,722,211
				28,040,740
New Zealand - 1.6%
Air New Zealand, Ltd.		5,015,402		9,109,528
Norway - 0.4%
ABG Sundal Collier Holding ASA		5,265,727		2,272,458
Philippines - 0.3%
Alliance Global Group, Inc. (A)		7,713,200		1,636,121
Republic of Korea - 2.2%
Eugene Technology Co., Ltd.		337,209		4,724,702
Interpark Holdings Corp.		565,819		948,987
NongShim Co., Ltd.		5,900		1,134,893
Value Added Technology Co., Ltd. (A)		241,600		6,235,352
				13,043,934
Spain - 1.5%
Cia de Distribucion Integral Logista Holdings SA		401,364		9,006,228

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica International Small Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Sweden - 4.8%
Cloetta AB, B Shares		1,770,600		$   6,240,977
Dios Fastigheter AB		1,042,874		9,616,984
Nobina AB (C)		693,172		5,263,468
Scandic Hotels Group AB (C)		650,700		6,901,723
				28,023,152
Switzerland - 3.6%
Pargesa Holding SA		163,835		13,124,639
Swissquote Group Holding SA		127,476		7,700,438
				20,825,077
United Kingdom - 17.4%
Bellway PLC		222,700		11,718,901
Dialog Semiconductor PLC (A)		57,887		2,542,794
Equiniti Group PLC (C)		3,405,500		9,209,779
IG Group Holdings PLC		899,335		7,883,101
Inchcape PLC		418,400		3,629,906
Informa PLC		1,275,927		13,033,587
Intermediate Capital Group PLC		482,835		11,073,518
International Personal Finance PLC		1,503,150		3,136,157
Lancashire Holdings, Ltd.		614,600		6,070,612
Northgate PLC (B)		701,868		2,465,332
Oxford Metrics PLC		262,800		390,406
Redrow PLC		1,065,000		11,180,342
Rentokil Initial PLC		685,081		4,219,115
Savills PLC		912,500		14,989,654
				101,543,204
Total Common Stocks (Cost $495,392,201)				577,683,221
OTHER INVESTMENT COMPANY - 1.7%
Securities Lending Collateral - 1.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		9,652,171		9,652,171
Total Other Investment Company (Cost $9,652,171)				9,652,171
	Principal		Value
REPURCHASE AGREEMENT - 0.6%
Fixed Income Clearing Corp., 0.85% (D), dated 01/31/2020, to be repurchased at $3,317,098 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $3,384,963.		$  3,316,863		3,316,863
Total Repurchase Agreement (Cost $3,316,863)				3,316,863
Total Investments (Cost $508,361,235)				590,652,255
Net Other Assets (Liabilities) - (1.3)%				(7,818,672	)
Net Assets - 100.0%				$  582,833,583

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica International Small Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Real Estate Management & Development		8.3	%		$    48,802,925
Capital Markets		6.8			39,843,948
Household Durables		5.7			33,726,030
Diversified Financial Services		4.8			28,264,797
Entertainment		4.5			26,722,446
Air Freight & Logistics		4.5			26,352,557
Semiconductors & Semiconductor Equipment		4.4			26,168,881
Food Products		4.3			25,083,210
Chemicals		3.6			21,121,126
IT Services		3.4			20,094,228
Building Products		3.3			19,456,199
Media		3.0			17,614,436
Professional Services		2.7			16,192,693
Health Care Equipment & Supplies		2.7			15,675,406
Electronic Equipment, Instruments & Components		2.2			13,180,047
Food & Staples Retailing		2.2			13,061,125
Distributors		2.1			12,608,866
Road & Rail		2.0			12,054,296
Equity Real Estate Investment Trusts		1.8			10,555,712
Containers & Packaging		1.6			9,112,694
Airlines		1.5			9,109,528
Health Care Providers & Services		1.5			8,767,691
Electrical Equipment		1.4			8,346,053
Life Sciences Tools & Services		1.4			8,336,215
Trading Companies & Distributors		1.3			7,913,692
Specialty Retail		1.3			7,644,499
Oil, Gas & Consumable Fuels		1.2			7,078,556
Commercial Services & Supplies		1.2			6,985,943
Machinery		1.2			6,911,404
Hotels, Restaurants & Leisure		1.2			6,901,723
Software		1.1			6,404,425
Tobacco		1.0			6,136,967
Transportation Infrastructure		1.0			6,096,800
Insurance		1.0			6,070,612
Banks		1.0			6,068,788
Pharmaceuticals		1.0			5,805,755
Personal Products		0.9			5,120,938
Internet & Direct Marketing Retail		0.7			4,307,467
Metals & Mining		0.7			4,291,087
Textiles, Apparel & Luxury Goods		0.7			4,143,200
Auto Components		0.6			3,728,970
Consumer Finance		0.5			3,136,157
Industrial Conglomerates		0.3			1,636,121
Beverages		0.2			1,049,008
Investments		97.8			577,683,221
Short-Term Investments		2.2			12,969,034
Total Investments		100.0	%		$    590,652,255

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica International Small Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	—	$	577,683,221	$	—	$	577,683,221
Other Investment Company		9,652,171		—		—		9,652,171
Repurchase Agreement		—		3,316,863		—		3,316,863
Total Investments	$	9,652,171	$	581,000,084	$	—	$	590,652,255

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $9,176,522. 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.
(C)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $42,951,499, representing 7.4% of the Fund’s net assets.
(D)	Rates disclosed reflect the yields at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

REIT Real Estate Investment Trust

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica International Stock

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 94.9%
Australia - 4.2%
Austal, Ltd.		154,212		$  398,281
BHP Group, Ltd.		15,925		408,379
CSL, Ltd.		3,664		753,570
Fortescue Metals Group, Ltd.		81,211		601,597
Goodman Group, REIT		74,435		736,900
Northern Star Resources, Ltd.		60,211		518,667
Resolute Mining, Ltd. (A) (B)		278,626		218,846
Sandfire Resources, Ltd.		102,655		377,035
				4,013,275
Austria - 1.1%
ams AG (A)		17,626		716,271
BAWAG Group AG (A) (C)		8,627		372,866
				1,089,137
Belgium - 0.9%
Euronav NV		38,212		379,680
UCB SA		5,122		471,338
				851,018
Denmark - 2.4%
Carlsberg A/S, Class B		3,651		533,169
GN Store Nord A/S		6,505		322,649
Novo Nordisk A/S, Class B		14,699		894,752
Royal Unibrew A/S		6,099		579,821
				2,330,391
Finland - 0.5%
Neste OYJ		13,040		518,897
France - 11.2%
Air France-KLM (A)		74,998		694,792
Atos SE		5,668		470,039
AXA SA		35,438		942,352
BNP Paribas SA		12,565		666,793
Cie Generale des Etablissements Michelin SCA		6,797		788,610
Constellium SE (A)		26,300		298,768
Eiffage SA		8,247		955,941
Engie SA		52,631		905,953
Pernod Ricard SA		2,562		443,577
Peugeot SA		43,497		895,614
Safran SA		4,101		661,233
Sanofi		12,702		1,224,959
Societe Generale SA		23,301		754,012
Vinci SA		9,246		1,024,355
				10,726,998
Germany - 6.2%
Allianz SE		1,649		393,688
Bayer AG		9,272		744,129
Deutsche Lufthansa AG		26,796		408,201
Deutsche Telekom AG		24,668		399,518
HeidelbergCement AG		9,534		642,984
Merck KGaA		10,330		1,324,610
Muenchener Rueckversicherungs-Gesellschaft AG		1,978		583,194

	Shares		Value
COMMON STOCKS (continued)
Germany (continued)
ProSiebenSat.1 Media SE		62,674		$   833,060
TAG Immobilien AG (A)		21,092		555,894
				5,885,278
Hong Kong - 0.8%
CK Hutchison Holdings, Ltd.		46,500		410,861
Wheelock & Co., Ltd.		61,000		371,317
				782,178
Israel - 1.2%
Israel Discount Bank, Ltd., A Shares		245,162		1,111,964
Italy - 4.7%
Atlantia SpA		11,906		292,151
Enel SpA		280,729		2,446,922
Eni SpA		43,107		603,824
Leonardo SpA		89,886		1,104,338
				4,447,235
Japan - 28.1%
Asahi Group Holdings, Ltd.		18,800		871,531
Central Glass Co., Ltd.		16,500		358,544
Chubu Electric Power Co., Inc.		30,900		419,643
Cosmo Energy Holdings Co., Ltd.		9,700		187,098
FUJIFILM Holdings Corp.		39,600		1,966,713
Fujitsu, Ltd.		7,000		740,129
Hiroshima Bank, Ltd.		41,400		185,875
Hitachi, Ltd.		39,800		1,515,882
Hokkaido Electric Power Co., Inc.		52,000		243,870
Hoya Corp.		7,800		746,502
ITOCHU Corp.		87,800		2,051,093
Kajima Corp.		30,200		383,129
KDDI Corp.		76,900		2,323,845
Marubeni Corp.		226,200		1,625,386
Mitsubishi Corp.		20,300		520,403
Mitsubishi UFJ Financial Group, Inc.		173,600		891,369
Mizuho Financial Group, Inc.		302,600		448,735
Morinaga Milk Industry Co., Ltd.		9,700		370,930
NEC Corp.		29,000		1,290,887
Nichi-iko Pharmaceutical Co., Ltd.		20,400		239,792
Nippon Telegraph & Telephone Corp.		79,600		2,029,564
Olympus Corp.		47,800		772,316
Ricoh Co., Ltd.		52,000		590,015
Sawai Pharmaceutical Co., Ltd.		9,700		630,360
Sekisui House, Ltd. (B)		17,300		371,987
Sojitz Corp.		233,800		735,907
Sony Corp.		18,800		1,314,625
Sumitomo Corp.		38,400		571,187
Toyota Motor Corp.		29,000		2,016,302
World Co., Ltd.		17,844		391,127
				26,804,746
Netherlands - 8.1%
Akzo Nobel NV		7,336		692,280
ASM International NV		5,370		652,597
ASR Nederland NV		6,250		232,557
Koninklijke Ahold Delhaize NV		42,003		1,030,814
Koninklijke Philips NV		24,523		1,123,090
NN Group NV		38,802		1,346,759
NXP Semiconductors NV		14,281		1,811,688
Royal Dutch Shell PLC, B Shares		32,892		864,290
				7,754,075

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica International Stock

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Norway - 0.2%
Austevoll Seafood ASA		20,897		$   203,740
Singapore - 0.2%
Yanlord Land Group, Ltd.		204,400		170,946
Spain - 2.8%
Almirall SA		13,198		195,197
Banco Bilbao Vizcaya Argentaria SA		62,876		325,483
Banco Santander SA		92,680		365,242
Iberdrola SA		78,514		859,048
Repsol SA		19,041		262,057
Telefonica SA		94,346		638,129
				2,645,156
Sweden - 0.8%
SSAB AB, B Shares		67,384		193,971
Telefonaktiebolaget LM Ericsson, B Shares		76,160		598,802
				792,773
Switzerland - 8.2%
Nestle SA		10,296		1,135,573
Novartis AG		27,080		2,558,196
Roche Holding AG		5,721		1,919,214
Swiss Life Holding AG		1,960		985,241
UBS Group AG (A)		32,074		398,347
Zurich Insurance Group AG		1,946		807,819
				7,804,390
United Kingdom - 13.3%
3i Group PLC		67,210		977,688
Ashtead Group PLC		22,188		716,182
AstraZeneca PLC		11,415		1,116,701
Barclays PLC		347,163		766,645
Bellway PLC		7,436		391,297
BP PLC		114,206		687,532
British American Tobacco PLC		21,009		926,390
Coca-Cola European Partners PLC		11,854		623,639
Dart Group PLC		14,197		318,701
Dialog Semiconductor PLC (A)		13,912		611,110
GlaxoSmithKline PLC		38,944		914,382
Halma PLC		18,689		518,741
Hammerson PLC, REIT		104,871		322,708
Imperial Brands PLC		16,901		433,379
Lloyds Banking Group PLC		755,862		564,277
Redrow PLC		36,346		381,559
Rio Tinto PLC		11,673		624,204
Standard Chartered PLC		66,046		549,201
Tesco PLC		374,067		1,216,660
				12,660,996
Total Common Stocks (Cost $87,537,963)				90,593,193
PREFERRED STOCK - 1.4%
Germany - 1.4%
Volkswagen AG, 2.95% (D)		7,330		1,315,095
Total Preferred Stock (Cost $1,330,505)				1,315,095

	Shares		Value
EXCHANGE-TRADED FUND - 1.0%
United States - 1.0%
iShares MSCI EAFE ETF		13,940		$   940,671
Total Exchange-Traded Fund (Cost $915,030)				940,671
OTHER INVESTMENT COMPANY - 0.6%
Securities Lending Collateral - 0.6%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		598,495		598,495
Total Other Investment Company (Cost $598,495)				598,495
Total Investments (Cost $90,381,993)				93,447,454
Net Other Assets (Liabilities) - 2.1%				1,982,446
Net Assets - 100.0%				$  95,429,900

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica International Stock

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Pharmaceuticals		13.1	%		$    12,233,630
Banks		7.5			7,002,462
Trading Companies & Distributors		6.7			6,220,158
Insurance		5.7			5,291,610
Automobiles		4.5			4,227,011
Electric Utilities		4.2			3,969,483
Semiconductors & Semiconductor Equipment		4.1			3,791,666
Oil, Gas & Consumable Fuels		3.8			3,503,378
Metals & Mining		3.5			3,241,467
Diversified Telecommunication Services		3.3			3,067,211
Beverages		3.3			3,051,737
Health Care Equipment & Supplies		3.2			2,964,557
Technology Hardware, Storage & Peripherals		2.7			2,556,728
IT Services		2.7			2,501,055
Household Durables		2.6			2,459,468
Construction & Engineering		2.5			2,363,425
Wireless Telecommunication Services		2.5			2,323,845
Food & Staples Retailing		2.4			2,247,474
Aerospace & Defense		2.3			2,163,852
Electronic Equipment, Instruments & Components		2.2			2,034,623
Food Products		1.8			1,710,243
Airlines		1.5			1,421,694
Capital Markets		1.5			1,376,035
Tobacco		1.5			1,359,769
Real Estate Management & Development		1.2			1,098,157
Equity Real Estate Investment Trusts		1.1			1,059,608
International Equity Funds		1.0			940,671
Multi-Utilities		1.0			905,953
Media		0.9			833,060
Auto Components		0.8			788,610
Biotechnology		0.8			753,570
Chemicals		0.7			692,280
Construction Materials		0.7			642,984
Communications Equipment		0.6			598,802
Industrial Conglomerates		0.4			410,861
Specialty Retail		0.4			391,127
Building Products		0.4			358,544
Transportation Infrastructure		0.3			292,151
Investments		99.4			92,848,959
Short-Term Investments		0.6			598,495
Total Investments		100.0	%		$    93,447,454

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica International Stock

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	2,734,095	$	87,859,098	$	—	$	90,593,193
Preferred Stock		—		1,315,095		—		1,315,095
Exchange-Traded Fund		940,671		—		—		940,671
Other Investment Company		598,495		—		—		598,495
Total Investments	$	4,273,261	$	89,174,193	$	—	$	93,447,454

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $558,912. 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.
(C)	Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the security is deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the value of the 144A security is $372,866, representing 0.4% of the Fund’s net assets.
(D)	Rates disclosed reflect the yields at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

REIT Real Estate Investment Trust

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica International Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.4%
Australia - 3.6%
Challenger, Ltd.		7,380		$  43,693
Macquarie Group, Ltd.		1,240		118,482
Qantas Airways, Ltd.		11,306		47,935
Santos, Ltd.		25,708		147,549
				357,659
Belgium - 0.8%
KBC Group NV		1,074		78,805
Brazil - 2.0%
Ambev SA		6,350		26,467
Banco do Brasil SA		3,860		43,750
BR Properties SA (A)		12,100		43,991
Localiza Rent a Car SA		3,045		38,132
Petrobras Distribuidora SA		4,575		30,766
Qualicorp Consultoria e Corretora de Seguros SA		1,560		15,103
				198,209
Canada - 4.2%
Canadian Imperial Bank of Commerce		800		65,238
Canadian National Railway Co.		1,560		145,780
Fairfax Financial Holdings, Ltd.		150		67,119
Fairfax India Holdings Corp. (A) (B)		2,800		33,964
RioCan Real Estate Investment Trust		1,600		32,837
Suncor Energy, Inc.		1,700		51,961
Transcontinental, Inc., Class A		1,500		17,636
				414,535
China - 6.6%
Agricultural Bank of China, Ltd., H Shares		123,000		47,488
Alibaba Group Holding, Ltd., ADR (A)		707		146,059
Baidu, Inc., ADR (A)		207		25,577
China Construction Bank Corp., H Shares		86,000		65,148
China Petroleum & Chemical Corp., A Shares		49,500		34,600
ENN Energy Holdings, Ltd.		4,230		49,173
JD.com, Inc., ADR (A)		1,668		62,867
Minth Group, Ltd.		8,000		24,470
NetEase, Inc., ADR		136		43,623
Tencent Holdings, Ltd.		2,990		142,594
Times China Holdings, Ltd.		10,760		18,771
				660,370
Czech Republic - 0.3%
Komercni banka as		797		27,394
Denmark - 1.9%
AP Moller-Maersk A/S, Class B		113		135,121
Maersk Drilling A/S (A)		978		54,582
				189,703
Egypt - 0.1%
ElSewedy Electric Co.		19,230		13,644
France - 7.6%
Airbus SE		1,012		148,626
Arkema SA		732		67,073
Engie SA		4,274		73,570
LVMH Moet Hennessy Louis Vuitton SE		179		77,949

	Shares		Value
COMMON STOCKS (continued)
France (continued)
Peugeot SA		2,676		$   55,099
Sanofi		1,793		172,914
Veolia Environnement SA		4,300		126,852
Vivendi SA		1,164		31,835
				753,918
Germany - 8.3%
Allianz SE		604		144,201
Bayer AG		1,776		142,533
Deutsche Boerse AG		507		82,298
Fresenius SE & Co. KGaA		1,407		71,842
Infineon Technologies AG		3,176		68,230
Merck KGaA		544		69,757
SAP SE		886		115,385
Siemens AG		730		90,037
TUI AG		4,452		45,336
				829,619
Greece - 0.3%
OPAP SA		2,411		30,022
Hong Kong - 3.7%
China Mobile, Ltd.		6,000		49,318
CK Hutchison Holdings, Ltd.		8,500		75,104
Guangdong Investment, Ltd.		12,107		24,573
Haier Electronics Group Co., Ltd.		16,000		48,059
Kerry Logistics Network, Ltd.		26,500		42,275
SITC International Holdings Co., Ltd.		38,000		44,762
Swire Pacific, Ltd., Class A		3,500		30,733
Swire Pacific, Ltd., Class B		23,900		33,793
WH Group, Ltd. (B)		27,500		25,880
				374,497
Hungary - 0.4%
Richter Gedeon Nyrt		1,865		40,095
India - 1.1%
ICICI Bank, Ltd., ADR		3,784		55,171
Reliance Industries, Ltd., GDR (B)		290		11,339
Vedanta, Ltd., ADR		5,288		41,775
				108,285
Indonesia - 0.6%
AKR Corporindo Tbk PT		75,200		18,150
Semen Indonesia Persero Tbk PT		44,900		39,116
				57,266
Ireland - 2.9%
AIB Group PLC		20,335		59,619
DCC PLC		876		70,730
Ryanair Holdings PLC, ADR (A)		828		71,713
Smurfit Kappa Group PLC		2,577		89,118
				291,180
Italy - 1.6%
Eni SpA		6,842		95,840
Mediobanca Banca di Credito Finanziario SpA		6,043		60,282
				156,122
Japan - 16.8%
Astellas Pharma, Inc.		5,100		90,118
FANUC Corp. (C)		180		32,783
Hikari Tsushin, Inc.		360		88,489

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica International Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Japan (continued)
Hitachi, Ltd.		2,700		$   102,836
JXTG Holdings, Inc.		25,100		106,755
Kenedix, Inc.		16,010		80,534
Kuraray Co., Ltd.		4,800		57,698
MS&AD Insurance Group Holdings, Inc.		2,200		73,068
Nintendo Co., Ltd.		130		47,821
Olympus Corp.		4,310		69,638
ORIX Corp.		1,790		30,238
Rakuten, Inc. (A)		4,710		36,335
Seven & i Holdings Co., Ltd. (C)		2,450		93,941
SoftBank Group Corp. (C)		2,750		111,030
Sony Corp.		3,320		232,157
Sumitomo Mitsui Financial Group, Inc. (C)		3,600		126,574
Toshiba Corp.		2,860		91,407
Toyota Motor Corp.		2,510		174,515
Trend Micro, Inc. (A)		500		26,125
				1,672,062
Luxembourg - 2.1%
ArcelorMittal SA		6,005		88,202
Eurofins Scientific SE		108		58,088
Millicom International Cellular SA, SDR		1,320		62,335
				208,625
Malaysia - 0.6%
Malayan Banking Bhd.		18,700		38,377
Sime Darby Property Bhd.		117,300		22,247
				60,624
Mexico - 1.0%
Alpek SAB de CV		13,000		12,198
Fomento Economico Mexicano SAB de CV		3,361		30,304
Grupo Aeroportuario del Centro Norte SAB de CV		7,200		54,794
				97,296
Netherlands - 4.0%
ASML Holding NV		360		101,029
Heineken NV		767		83,455
Koninklijke Philips NV		2,109		96,587
NXP Semiconductors NV		745		94,511
Prosus NV (A)		319		23,010
				398,592
Norway - 0.6%
Mowi ASA		2,366		56,433
Philippines - 0.4%
International Container Terminal Services, Inc.		15,850		40,409
Republic of Korea - 1.4%
Com2uSCorp		538		45,413
Fila Holdings Corp.		526		19,257
Hana Financial Group, Inc.		1,413		39,049
NCSoft Corp.		61		32,315
				136,034
Republic of South Africa - 0.5%
Naspers, Ltd., N Shares		319		51,741
Russian Federation - 1.8%
Lukoil PJSC, ADR		831		84,870

	Shares		Value
COMMON STOCKS (continued)
Russian Federation (continued)
PhosAgro PJSC, GDR (D)		3,358		$   42,613
Sberbank of Russia PJSC, ADR		3,204		51,078
				178,561
Singapore - 1.1%
DBS Group Holdings, Ltd.		6,000		110,526
Sweden - 0.4%
Loomis AB, Class B		1,227		44,431
Switzerland - 6.2%
Alcon, Inc. (A)		353		20,855
Nestle SA		2,029		223,784
Novartis AG		1,767		166,925
Pargesa Holding SA		892		71,457
UBS Group AG (A)		6,144		76,306
Wizz Air Holdings PLC (A) (B)		1,101		60,689
				620,016
Taiwan - 3.0%
Chailease Holding Co., Ltd.		11,016		45,681
Delta Electronics, Inc.		7,200		33,641
Taiwan High Speed Rail Corp.		22,820		27,125
Taiwan Semiconductor Manufacturing Co., Ltd.		14,950		154,197
Yuanta Financial Holding Co., Ltd.		59,800		38,725
				299,369
Thailand - 0.4%
Bangkok Bank PCL, NVDR		7,800		35,786
Turkey - 0.5%
Tofas Turk Otomobil Fabrikasi AS		5,237		23,095
Tupras Turkiye Petrol Rafinerileri AS		1,496		28,106
				51,201
United Kingdom - 9.2%
Aviva PLC		18,990		99,517
Barratt Developments PLC		5,607		59,364
British Land Co. PLC, REIT		11,189		81,829
Cineworld Group PLC (C)		11,986		27,977
HSBC Holdings PLC		21,261		154,571
Imperial Brands PLC		1,192		30,566
Informa PLC		5,977		61,055
Persimmon PLC		1,379		55,516
Tesco PLC		38,957		126,708
Unilever PLC		2,417		144,177
Vodafone Group PLC		20,074		39,440
William Hill PLC		17,690		40,389
				921,109
United States - 0.9%
Burford Capital, Ltd.		4,250		35,301
Cott Corp. (C)		3,800		58,145
				93,446
Uruguay - 0.5%
Arcos Dorados Holdings, Inc., Class A		6,244		47,892
Total Common Stocks (Cost $9,785,815)				9,705,476

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica International Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
PREFERRED STOCK - 1.7%
Republic of Korea - 1.7%
Samsung Electronics Co., Ltd., 2.78% (E)		4,198		$   164,103
Total Preferred Stock (Cost $146,048)				164,103
OTHER INVESTMENT COMPANY - 4.5%
Securities Lending Collateral - 4.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (E)		453,531		453,531
Total Other Investment Company (Cost $453,531)				453,531
Total Investments (Cost $10,385,394)				10,323,110
Net Other Assets (Liabilities) - (3.6)%				(354,231	)
Net Assets - 100.0%				$  9,968,879

INVESTMENTS BY INDUSTRY:

Industry	Percentage of Total Investments			Value
Banks		10.3	%		$    1,058,856
Pharmaceuticals		6.6			682,342
Oil, Gas & Consumable Fuels		5.4			561,020
Semiconductors & Semiconductor Equipment		4.1			417,967
Household Durables		3.8			395,096
Insurance		3.7			383,905
Capital Markets		3.4			346,351
Industrial Conglomerates		3.2			327,278
Internet & Direct Marketing Retail		3.1			320,012
Food Products		3.0			306,097
Wireless Telecommunication Services		2.5			262,123
Automobiles		2.5			252,709
Real Estate Management & Development		2.2			230,069
Diversified Financial Services		2.2			229,794
Entertainment		2.2			228,984
Food & Staples Retailing		2.1			220,649
Multi-Utilities		1.9			200,422
Beverages		1.9			198,371
Health Care Equipment & Supplies		1.8			187,080
Road & Rail		1.8			183,912
Airlines		1.8			180,337
Marine		1.8			179,883
Chemicals		1.7			179,582
Interactive Media & Services		1.6			168,171
Technology Hardware, Storage & Peripherals		1.6			164,103
Hotels, Restaurants & Leisure		1.6			163,639
Aerospace & Defense		1.4			148,626
Personal Products		1.4			144,177
Software		1.4			141,510
Electronic Equipment, Instruments & Components		1.3			136,477
Metals & Mining		1.3			129,977
Transportation Infrastructure		1.2			122,328
Specialty Retail		1.2			119,255
Equity Real Estate Investment Trusts		1.1			114,666
Textiles, Apparel & Luxury Goods		0.9			97,206
Containers & Packaging		0.9			89,118

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica International Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

INVESTMENTS BY INDUSTRY (continued):

Industry	Percentage of Total Investments			Value
Health Care Providers & Services		0.8	%		$     86,945
Commercial Services & Supplies		0.6			62,067
Media		0.6			61,055
Life Sciences Tools & Services		0.6			58,088
Energy Equipment & Services		0.5			54,582
Gas Utilities		0.5			49,173
Air Freight & Logistics		0.4			42,275
Construction Materials		0.4			39,116
Machinery		0.3			32,783
Tobacco		0.3			30,566
Water Utilities		0.2			24,573
Auto Components		0.2			24,470
Trading Companies & Distributors		0.2			18,150
Electrical Equipment		0.1			13,644
Investments		95.6			9,869,579
Short-Term Investments		4.4			453,531
Total Investments		100.0	%		$    10,323,110

SECURITY VALUATION:

Valuation Inputs ^(F)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	1,535,934	$	8,169,542	$	—	$	9,705,476
Preferred Stock		—		164,103		—		164,103
Other Investment Company		453,531		—		—		453,531
Total Investments	$	1,989,465	$	8,333,645	$	—	$	10,323,110

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $131,872, representing 1.3% of the Fund’s net assets.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $431,181. 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)	Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security 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, 2020, the value of the Regulation S security is $42,613, representing 0.4% of the Fund’s net assets.
(E)	Rates disclosed reflect the yields at January 31, 2020.
(F)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica International Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depository Receipt
REIT	Real Estate Investment Trust
SDR	Swedish Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Large Cap Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.3%
Aerospace & Defense - 4.6%
Textron, Inc.		632,603		$  29,055,456
United Technologies Corp.		370,000		55,574,000
				84,629,456
Automobiles - 4.7%
General Motors Co.		2,595,000		86,647,050
Banks - 11.2%
Bank of America Corp.		2,450,000		80,433,500
Citigroup, Inc.		1,185,000		88,175,850
JPMorgan Chase & Co.		300,000		39,708,000
				208,317,350
Beverages - 4.7%
Cott Corp.		4,305,000		65,823,450
Keurig Dr. Pepper, Inc. (A)		740,000		21,112,200
				86,935,650
Biotechnology - 4.6%
AbbVie, Inc.		1,060,000		85,881,200
Capital Markets - 3.0%
Morgan Stanley		1,077,135		56,291,075
Chemicals - 4.2%
DuPont de Nemours, Inc.		1,532,000		78,407,760
Communications Equipment - 4.5%
CommScope Holding Co., Inc. (B)		2,940,000		35,823,900
Juniper Networks, Inc.		400,000		9,176,000
Nokia OYJ, ADR (A)		10,130,000		39,304,400
				84,304,300
Diversified Telecommunication Services - 3.5%
AT&T, Inc.		975,000		36,679,500
Verizon Communications, Inc.		470,000		27,936,800
				64,616,300
Electric Utilities - 1.4%
Exelon Corp.		550,000		26,174,500
Electrical Equipment - 1.5%
Emerson Electric Co.		390,000		27,935,700
Equity Real Estate Investment Trusts - 4.0%
Simon Property Group, Inc.		135,000		17,975,250
SL Green Realty Corp.		610,100		56,153,604
				74,128,854
Food & Staples Retailing - 3.6%
Walmart, Inc.		579,143		66,306,082
Food Products - 8.1%
Archer-Daniels-Midland Co.		1,500,000		67,140,000
TreeHouse Foods, Inc. (B)		1,849,994		82,509,732
				149,649,732

	Shares		Value
COMMON STOCKS (continued)
Insurance - 8.7%
American International Group, Inc.		2,240,000		$   112,582,400
Lincoln National Corp.		900,000		49,032,000
				161,614,400
Media - 1.4%
Comcast Corp., Class A		610,000		26,345,900
Multi-Utilities - 5.5%
CenterPoint Energy, Inc.		3,885,000		102,874,800
Oil, Gas & Consumable Fuels - 7.9%
Exxon Mobil Corp.		625,000		38,825,000
Occidental Petroleum Corp.		1,680,000		66,729,600
Williams Cos., Inc.		2,000,000		41,380,000
				146,934,600
Pharmaceuticals - 3.1%
Johnson & Johnson		230,000		34,240,100
Pfizer, Inc.		630,000		23,461,200
				57,701,300
Semiconductors & Semiconductor Equipment - 3.6%
Intel Corp.		1,040,000		66,487,200
Specialty Retail - 2.3%
Lowe’s Cos., Inc.		365,000		42,427,600
Wireless Telecommunication Services - 1.2%
Vodafone Group PLC, ADR (A)		1,150,000		22,551,500
Total Common Stocks (Cost $1,797,259,101)				1,807,162,309
OTHER INVESTMENT COMPANY - 1.4%
Securities Lending Collateral - 1.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		25,671,812		25,671,812
Total Other Investment Company (Cost $25,671,812)				25,671,812
	Principal		Value
REPURCHASE AGREEMENT - 2.4%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $44,454,538 on 02/03/2020. Collateralized by U.S. Government Obligations, 2.13% - 3.13%, due 05/15/2021 - 05/31/2021, and with a total value of $45,341,941.		$  44,451,389		44,451,389
Total Repurchase Agreement (Cost $44,451,389)				44,451,389
Total Investments (Cost $1,867,382,302)				1,877,285,510
Net Other Assets (Liabilities) - (1.1)%				(21,109,778	)
Net Assets - 100.0%				$  1,856,175,732

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Large Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	1,807,162,309	$	—	$	—	$	1,807,162,309
Other Investment Company		25,671,812		—		—		25,671,812
Repurchase Agreement		—		44,451,389		—		44,451,389
Total Investments	$	1,832,834,121	$	44,451,389	$	—	$	1,877,285,510

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 $25,008,062. 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)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Large Core

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.4%
Aerospace & Defense - 1.8%
Arconic, Inc.		23,479		$  703,196
General Dynamics Corp.		4,713		826,849
Huntington Ingalls Industries, Inc.		787		205,407
Lockheed Martin Corp.		2,438		1,043,757
Northrop Grumman Corp.		1,413		529,267
				3,308,476
Air Freight & Logistics - 0.4%
CH Robinson Worldwide, Inc.		9,688		699,668
United Parcel Service, Inc., Class B		383		39,648
				739,316
Airlines - 0.5%
Delta Air Lines, Inc.		9,508		529,976
Southwest Airlines Co.		4,302		236,524
United Airlines Holdings, Inc. (A)		2,778		207,794
				974,294
Auto Components - 0.1%
BorgWarner, Inc.		4,082		139,972
Automobiles - 0.3%
Ford Motor Co.		27,949		246,510
General Motors Co.		11,018		367,891
				614,401
Banks - 4.2%
Bank of America Corp.		78,927		2,591,173
Citigroup, Inc.		13,743		1,022,616
Citizens Financial Group, Inc.		2,367		88,242
Comerica, Inc.		6,186		378,336
Fifth Third Bancorp		41,065		1,168,299
JPMorgan Chase & Co.		8,647		1,144,517
M&T Bank Corp.		1,813		305,527
SVB Financial Group (A)		508		122,088
US Bancorp		17,782		946,358
				7,767,156
Beverages - 1.3%
Coca-Cola Co.		19,539		1,141,078
Molson Coors Beverage Co., Class B		2,316		128,723
Monster Beverage Corp. (A)		4,302		286,513
PepsiCo, Inc.		5,796		823,148
				2,379,462
Biotechnology - 1.9%
AbbVie, Inc.		8,539		691,830
Alexion Pharmaceuticals, Inc. (A)		2,103		209,017
Amgen, Inc.		4,325		934,416
Biogen, Inc. (A)		2,086		560,821
Gilead Sciences, Inc.		10,723		677,694
Incyte Corp. (A)		5,434		397,062
Vertex Pharmaceuticals, Inc. (A)		558		126,694
				3,597,534
Building Products - 0.7%
Allegion PLC		2,578		333,387

	Shares		Value
COMMON STOCKS (continued)
Building Products (continued)
Johnson Controls International PLC		18,209		$   718,345
Masco Corp.		5,976		283,980
				1,335,712
Capital Markets - 3.2%
Ameriprise Financial, Inc.		3,908		646,422
Charles Schwab Corp.		12,381		563,955
E*TRADE Financial Corp.		5,255		223,968
Franklin Resources, Inc.		11,970		302,841
Intercontinental Exchange, Inc.		4,219		420,803
MarketAxess Holdings, Inc.		2,036		721,110
Moody’s Corp.		2,059		528,731
MSCI, Inc.		1,462		417,840
Raymond James Financial, Inc.		329		30,080
S&P Global, Inc.		1,954		573,948
T. Rowe Price Group, Inc.		11,198		1,495,269
				5,924,967
Chemicals - 0.9%
Celanese Corp.		3,572		369,702
CF Industries Holdings, Inc.		10,707		431,278
Dow, Inc. (A)		15,777		726,846
DuPont de Nemours, Inc.		3,032		155,178
LyondellBasell Industries NV, Class A		883		68,750
				1,751,754
Commercial Services & Supplies - 1.0%
Cintas Corp.		5,238		1,461,245
Republic Services, Inc.		4,434		421,452
				1,882,697
Communications Equipment - 1.0%
Cisco Systems, Inc.		40,112		1,843,949
Construction & Engineering - 0.2%
Jacobs Engineering Group, Inc.		5,082		470,237
Construction Materials - 0.5%
Martin Marietta Materials, Inc.		3,416		901,141
Consumer Finance - 0.7%
American Express Co.		5,715		742,207
Discover Financial Services		4,774		358,671
Synchrony Financial		6,389		207,067
				1,307,945
Containers & Packaging - 0.5%
Ball Corp.		11,362		820,109
Sealed Air Corp.		2,592		92,016
				912,125
Distributors - 0.2%
LKQ Corp. (A)		10,131		331,132
Diversified Financial Services - 2.3%
Berkshire Hathaway, Inc., Class B (A)		19,113		4,289,531
Diversified Telecommunication Services - 2.0%
AT&T, Inc.		43,986		1,654,753
CenturyLink, Inc.		26,160		357,346
Verizon Communications, Inc.		29,029		1,725,484
				3,737,583

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Large Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Electric Utilities - 1.9%
Evergy, Inc.		29,752		$   2,146,904
Exelon Corp.		20,924		995,773
Pinnacle West Capital Corp.		1,561		152,494
Southern Co.		3,597		253,229
				3,548,400
Electronic Equipment, Instruments & Components - 0.4%
CDW Corp.		788		102,795
Keysight Technologies, Inc. (A)		5,972		555,336
				658,131
Energy Equipment & Services - 0.2%
Helmerich & Payne, Inc.		5,091		206,440
Schlumberger, Ltd.		6,295		210,945
				417,385
Entertainment - 1.1%
Electronic Arts, Inc. (A)		4,401		474,956
Netflix, Inc. (A)		1,757		606,323
Take-Two Interactive Software, Inc. (A)		4,532		564,869
Walt Disney Co.		2,858		395,290
				2,041,438
Equity Real Estate Investment Trusts - 2.5%
American Tower Corp.		4,861		1,126,488
Boston Properties, Inc.		1,071		153,528
Extra Space Storage, Inc.		3,113		344,547
Host Hotels & Resorts, Inc.		65,069		1,063,228
Public Storage		1,528		341,905
Simon Property Group, Inc.		12,627		1,681,285
				4,710,981
Food & Staples Retailing - 1.2%
Costco Wholesale Corp.		3,415		1,043,351
Sysco Corp.		5,578		458,177
Walmart, Inc.		6,371		729,415
				2,230,943
Food Products - 0.8%
General Mills, Inc.		7,860		410,449
Hershey Co.		3,087		479,010
Kellogg Co.		2,592		176,800
Mondelez International, Inc., Class A		3,924		225,159
Tyson Foods, Inc., Class A		1,776		146,751
				1,438,169
Health Care Equipment & Supplies - 3.2%
Abbott Laboratories		17,273		1,505,169
Align Technology, Inc. (A)		1,773		455,838
Baxter International, Inc.		4,118		367,408
Cooper Cos., Inc.		2,020		700,718
Edwards Lifesciences Corp. (A)		3,727		819,418
Hologic, Inc. (A)		5,321		284,780
IDEXX Laboratories, Inc. (A)		690		186,997
Medtronic PLC		10,804		1,247,214
Teleflex, Inc.		900		334,359
				5,901,901
Health Care Providers & Services - 3.1%
AmerisourceBergen Corp.		4,611		394,517
Anthem, Inc.		3,433		910,706

	Shares		Value
COMMON STOCKS (continued)
Health Care Providers & Services (continued)
Cardinal Health, Inc.		4,305		$   220,459
Centene Corp. (A)		2,053		128,949
CVS Health Corp.		14,778		1,002,244
HCA Healthcare, Inc.		540		74,952
Henry Schein, Inc. (A)		8,780		605,293
Humana, Inc.		920		309,341
McKesson Corp.		458		65,315
UnitedHealth Group, Inc.		6,414		1,747,494
Universal Health Services, Inc., Class B		2,358		323,306
				5,782,576
Health Care Technology - 0.3%
Cerner Corp.		8,637		620,396
Hotels, Restaurants & Leisure - 1.5%
Chipotle Mexican Grill, Inc. (A)		49		42,471
Darden Restaurants, Inc.		5,204		605,902
Hilton Worldwide Holdings, Inc.		4,615		497,497
Las Vegas Sands Corp.		3,432		224,144
McDonald’s Corp.		191		40,868
Norwegian Cruise Line Holdings, Ltd. (A)		8,094		435,862
Starbucks Corp.		12,036		1,021,014
				2,867,758
Household Durables - 0.8%
D.R. Horton, Inc.		5,763		341,169
Newell Brands, Inc.		6,536		127,648
PulteGroup, Inc.		17,240		769,766
Whirlpool Corp. (B)		1,722		251,705
				1,490,288
Household Products - 2.7%
Church & Dwight Co., Inc.		7,846		582,330
Clorox Co.		3,137		493,481
Colgate-Palmolive Co.		11,740		866,177
Kimberly-Clark Corp.		11,445		1,639,382
Procter & Gamble Co.		11,822		1,473,258
				5,054,628
Independent Power & Renewable Electricity Producers - 0.8%
AES Corp.		56,991		1,131,841
NRG Energy, Inc.		12,429		458,506
				1,590,347
Industrial Conglomerates - 1.4%
3M Co.		2,546		403,948
General Electric Co.		66,030		822,074
Honeywell International, Inc.		7,800		1,351,116
				2,577,138
Insurance - 2.6%
Aflac, Inc.		24,360		1,256,245
Allstate Corp.		13,366		1,584,406
American International Group, Inc.		487		24,477
Aon PLC		855		188,314
Hartford Financial Services Group, Inc.		16,958		1,005,270
MetLife, Inc.		8,012		398,276
Progressive Corp.		3,892		314,045
				4,771,033
Interactive Media & Services - 4.7%
Alphabet, Inc., Class A (A)		855		1,225,027

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Large Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Interactive Media & Services (continued)
Alphabet, Inc., Class C (A)		3,039		$   4,358,625
Facebook, Inc., Class A (A)		15,500		3,129,605
				8,713,257
Internet & Direct Marketing Retail - 3.9%
Amazon.com, Inc. (A)		2,497		5,015,774
Booking Holdings, Inc. (A)		674		1,233,791
eBay, Inc.		18,177		610,020
Expedia Group, Inc.		3,449		374,044
				7,233,629
IT Services - 5.5%
Accenture PLC, Class A		2,441		500,918
Akamai Technologies, Inc. (A)		5,008		467,497
Automatic Data Processing, Inc.		3,268		560,103
FleetCor Technologies, Inc. (A)		3,219		1,014,725
Global Payments, Inc.		262		51,208
International Business Machines Corp.		8,450		1,214,518
Mastercard, Inc., Class A		7,784		2,459,277
PayPal Holdings, Inc. (A)		5,430		618,423
VeriSign, Inc. (A)		1,101		229,162
Visa, Inc., Class A		16,190		3,221,324
				10,337,155
Life Sciences Tools & Services - 0.4%
Illumina, Inc. (A)		1,035		300,222
Mettler-Toledo International, Inc. (A)		450		340,731
Thermo Fisher Scientific, Inc.		99		31,006
				671,959
Machinery - 1.1%
Caterpillar, Inc.		3,662		481,004
Cummins, Inc.		5,599		895,672
Dover Corp.		338		38,481
Parker-Hannifin Corp.		1,049		205,279
Snap-on, Inc.		2,645		422,221
				2,042,657
Media - 2.3%
Charter Communications, Inc., Class A (A)		3,662		1,894,938
Comcast Corp., Class A		22,662		978,772
Discovery, Inc., Class C (A)		18,357		509,774
Fox Corp., Class B (A)		4,000		145,320
Omnicom Group, Inc.		11,397		858,308
				4,387,112
Metals & Mining - 0.0% (C)
Nucor Corp.		1,833		87,049
Multi-Utilities - 0.2%
CenterPoint Energy, Inc.		15,418		408,269
Multiline Retail - 0.5%
Dollar General Corp.		739		113,370
Dollar Tree, Inc. (A)		2,246		195,559
Target Corp.		5,484		607,298
				916,227
Oil, Gas & Consumable Fuels - 3.9%
Chevron Corp.		22,363		2,395,972
ConocoPhillips		17,306		1,028,496
Exxon Mobil Corp.		37,288		2,316,331
HollyFrontier Corp.		3,033		136,242
Marathon Oil Corp.		4,122		46,867

	Shares		Value
COMMON STOCKS (continued)
Oil, Gas & Consumable Fuels (continued)
Marathon Petroleum Corp.		1,840		$   100,280
Noble Energy, Inc.		4,353		86,059
Phillips 66		7,503		685,549
Valero Energy Corp.		3,415		287,919
Williams Cos., Inc.		14,137		292,494
				7,376,209
Personal Products - 0.1%
Coty, Inc., Class A		3,628		37,223
Estee Lauder Cos., Inc., Class A		841		164,130
				201,353
Pharmaceuticals - 4.0%
Bristol-Myers Squibb Co.		18,472		1,162,813
Johnson & Johnson		18,013		2,681,595
Merck & Co., Inc.		25,893		2,212,298
Pfizer, Inc.		32,592		1,213,726
Zoetis, Inc.		1,806		242,383
				7,512,815
Professional Services - 0.5%
IHS Markit, Ltd. (A)		8,620		679,773
Verisk Analytics, Inc.		1,527		248,092
				927,865
Real Estate Management & Development - 0.4%
CBRE Group, Inc., Class A (A)		11,215		684,676
Road & Rail - 1.0%
CSX Corp.		17,405		1,328,698
Kansas City Southern		570		96,153
Norfolk Southern Corp.		661		137,627
Union Pacific Corp.		1,495		268,233
				1,830,711
Semiconductors & Semiconductor Equipment - 4.3%
Advanced Micro Devices, Inc. (A)		1,232		57,904
Applied Materials, Inc.		11,001		637,948
Broadcom, Inc.		1,709		521,518
Intel Corp.		39,357		2,516,093
Lam Research Corp.		2,726		812,921
Microchip Technology, Inc. (B)		1,760		171,565
Micron Technology, Inc. (A)		4,319		229,296
NVIDIA Corp.		1,675		396,020
Qorvo, Inc. (A)		2,433		257,557
QUALCOMM, Inc.		8,703		742,453
Texas Instruments, Inc.		13,661		1,648,200
				7,991,475
Software - 7.4%
Adobe, Inc. (A)		1,166		409,429
Fortinet, Inc. (A)		4,729		545,538
Intuit, Inc.		7,718		2,163,973
Microsoft Corp.		51,671		8,795,954
Oracle Corp.		36,451		1,911,855
				13,826,749
Specialty Retail - 2.3%
Advance Auto Parts, Inc.		412		54,281
AutoZone, Inc. (A)		674		713,065
Best Buy Co., Inc.		4,762		403,294
Home Depot, Inc.		10,394		2,370,871

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Large Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Specialty Retail (continued)
O’Reilly Automotive, Inc. (A)		1,527		$   620,115
Ross Stores, Inc.		1,029		115,443
				4,277,069
Technology Hardware, Storage & Peripherals - 5.5%
Apple, Inc.		32,789		10,148,523
Hewlett Packard Enterprise Co.		7,105		98,973
				10,247,496
Textiles, Apparel & Luxury Goods - 0.1%
Hanesbrands, Inc.		5,861		80,647
NIKE, Inc., Class B		1,705		164,192
				244,839
Tobacco - 0.8%
Altria Group, Inc.		17,717		842,089
Philip Morris International, Inc.		8,966		741,488
				1,583,577
Wireless Telecommunication Services - 0.3%
T-Mobile US, Inc. (A)		6,404		507,133
Total Common Stocks (Cost $158,074,370)				181,920,177

	Shares		Value
EXCHANGE-TRADED FUND - 2.0%
U.S. Equity Fund - 2.0%
SPDR S&P 500 ETF Trust		11,576		$   3,724,346
Total Exchange-Traded Fund (Cost $3,512,232)				3,724,346
OTHER INVESTMENT COMPANY - 0.2%
Securities Lending Collateral - 0.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		352,927		352,927
Total Other Investment Company (Cost $352,927)				352,927
Total Investments (Cost $161,939,529)				185,997,450
Net Other Assets (Liabilities) - 0.4%				784,698
Net Assets - 100.0%				$  186,782,148

SECURITY 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	$	181,920,177	$	—	$	—	$	181,920,177
Exchange-Traded Fund		3,724,346		—		—		3,724,346
Other Investment Company		352,927		—		—		352,927
Total Investments	$	185,997,450	$	—	$	—	$	185,997,450

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $345,727. 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.
(C)	Percentage rounds to less than 0.1% or (0.1)%.
(D)	Rate disclosed reflects the yield at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Large Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 98.1%
Aerospace & Defense - 0.7%
Raytheon Co.		27,297		$  6,030,999
Beverages - 1.1%
Constellation Brands, Inc., Class A		23,852		4,491,332
Monster Beverage Corp. (A)		78,576		5,233,161
				9,724,493
Biotechnology - 1.9%
Alnylam Pharmaceuticals, Inc. (A)		23,378		2,683,560
Biogen, Inc. (A)		7,185		1,931,687
Moderna, Inc. (A) (B)		75,414		1,546,741
Sarepta Therapeutics, Inc. (A) (B)		17,181		1,992,309
Seattle Genetics, Inc. (A)		27,748		3,007,606
Vertex Pharmaceuticals, Inc. (A)		21,397		4,858,189
				16,020,092
Building Products - 0.5%
Fortune Brands Home & Security, Inc.		69,207		4,755,213
Capital Markets - 0.5%
Intercontinental Exchange, Inc.		42,895		4,278,347
Chemicals - 0.8%
PPG Industries, Inc.		35,255		4,224,959
Sherwin-Williams Co.		4,844		2,698,060
				6,923,019
Commercial Services & Supplies - 0.5%
Copart, Inc. (A)		39,811		4,039,224
Consumer Finance - 0.9%
American Express Co.		35,692		4,635,320
Capital One Financial Corp.		32,457		3,239,209
				7,874,529
Diversified Telecommunication Services - 0.4%
Verizon Communications, Inc.		52,653		3,129,694
Electrical Equipment - 0.9%
AMETEK, Inc.		42,738		4,151,997
Eaton Corp. PLC		39,024		3,686,597
				7,838,594
Electronic Equipment, Instruments & Components - 0.7%
CDW Corp.		29,107		3,797,008
Zebra Technologies Corp., Class A (A)		10,480		2,504,930
				6,301,938
Entertainment - 4.2%
Activision Blizzard, Inc.		66,823		3,907,809
Roku, Inc. (A) (B)		71,536		8,652,279
Spotify Technology SA (A)		136,119		19,233,615
Walt Disney Co.		31,436		4,347,913
				36,141,616
Equity Real Estate Investment Trusts - 0.6%
American Tower Corp.		22,538		5,222,956

	Shares		Value
COMMON STOCKS (continued)
Food & Staples Retailing - 0.8%
Costco Wholesale Corp.		23,394		$   7,147,335
Health Care Equipment & Supplies - 6.5%
Baxter International, Inc.		70,561		6,295,452
Becton Dickinson and Co.		13,671		3,761,986
DexCom, Inc. (A)		66,425		15,991,819
Edwards Lifesciences Corp. (A)		17,151		3,770,819
Intuitive Surgical, Inc. (A)		38,359		21,472,601
Teleflex, Inc.		11,779		4,376,016
				55,668,693
Health Care Providers & Services - 2.2%
Convetrus, Inc. (A) (B)		219,627		2,701,412
Guardant Health, Inc. (A)		87,269		6,635,935
UnitedHealth Group, Inc.		36,549		9,957,775
				19,295,122
Health Care Technology - 1.8%
Veeva Systems, Inc., Class A (A)		103,765		15,212,987
Hotels, Restaurants & Leisure - 1.1%
Hilton Worldwide Holdings, Inc.		48,023		5,176,879
McDonald’s Corp.		19,461		4,164,070
				9,340,949
Household Products - 1.0%
Colgate-Palmolive Co.		72,924		5,380,333
Procter & Gamble Co.		28,463		3,547,059
				8,927,392
Insurance - 0.4%
Allstate Corp.		31,359		3,717,296
Interactive Media & Services - 10.2%
Alphabet, Inc., Class A (A)		14,980		21,463,045
Alphabet, Inc., Class C (A)		8,584		12,311,430
Facebook, Inc., Class A (A)		109,739		22,157,402
Snap, Inc., Class A (A) (B)		415,711		7,640,768
Twitter, Inc. (A)		526,163		17,089,774
Zillow Group, Inc., Class C (A) (B)		145,638		6,729,932
				87,392,351
Internet & Direct Marketing Retail - 8.9%
Amazon.com, Inc. (A)		25,095		50,408,829
Chewy, Inc., Class A (A) (B)		220,447		5,844,050
Farfetch, Ltd., Class A (A) (B)		353,552		4,313,334
MercadoLibre, Inc. (A)		17,450		11,569,350
Wayfair, Inc., Class A (A) (B)		47,820		4,480,734
				76,616,297
IT Services - 14.2%
Adyen NV (A) (C)		9,098		8,360,215
EPAM Systems, Inc. (A)		14,474		3,302,098
FleetCor Technologies, Inc. (A)		20,924		6,595,873
Global Payments, Inc.		38,283		7,482,412
GoDaddy, Inc., Class A (A)		62,082		4,172,531
Mastercard, Inc., Class A		43,022		13,592,371
MongoDB, Inc. (A) (B)		49,308		8,082,074
Okta, Inc. (A)		137,115		17,557,576
PayPal Holdings, Inc. (A)		54,685		6,228,075
Shopify, Inc., Class A (A)		51,180		23,832,479

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Large Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
IT Services (continued)
Square, Inc., Class A (A)		95,587		$   7,139,393
Twilio, Inc., Class A (A) (B)		128,018		15,917,758
				122,262,855
Life Sciences Tools & Services - 2.9%
Illumina, Inc. (A)		62,745		18,200,442
Thermo Fisher Scientific, Inc.		20,361		6,376,862
				24,577,304
Machinery - 1.4%
Illinois Tool Works, Inc.		32,404		5,670,052
Nordson Corp.		23,911		4,037,611
Snap-on, Inc.		14,295		2,281,911
				11,989,574
Oil, Gas & Consumable Fuels - 0.2%
Continental Resources, Inc.		52,414		1,426,709
Pharmaceuticals - 1.1%
Allergan PLC		18,459		3,445,188
Eli Lilly & Co.		45,131		6,302,093
				9,747,281
Professional Services - 0.7%
Equifax, Inc.		18,987		2,846,151
IHS Markit, Ltd. (A)		39,354		3,103,457
				5,949,608
Road & Rail - 3.7%
Norfolk Southern Corp.		17,283		3,598,493
Uber Technologies, Inc. (A)		768,095		27,874,168
				31,472,661
Semiconductors & Semiconductor Equipment - 1.8%
Advanced Micro Devices, Inc. (A)		103,694		4,873,618
Marvell Technology Group, Ltd.		160,072		3,848,131
Micron Technology, Inc. (A)		64,725		3,436,250
ON Semiconductor Corp. (A)		136,099		3,150,692
				15,308,691
Software - 18.1%
Adobe, Inc. (A)		24,329		8,542,885
Atlassian Corp. PLC, Class A (A)		49,426		7,265,622
Coupa Software, Inc. (A) (B)		76,683		12,357,465
DocuSign, Inc. (A)		41,698		3,273,710
Guidewire Software, Inc. (A)		28,849		3,245,512
Microsoft Corp.		175,216		29,827,020
salesforce.com, Inc. (A)		51,843		9,451,497
ServiceNow, Inc. (A)		74,020		25,035,785
Slack Technologies, Inc., Class A (A) (B)		663,390		13,752,075
SS&C Technologies Holdings, Inc.		63,339		3,990,990
Trade Desk, Inc., Class A (A) (B)		48,196		12,973,399
Workday, Inc., Class A (A)		103,298		19,071,910
Zoom Video Communications, Inc., Class A (A) (B)		93,729		7,151,523
				155,939,393
Specialty Retail - 1.2%
Carvana Co. (A) (B)		54,063		4,284,493
TJX Cos., Inc.		99,357		5,866,037
				10,150,530

	Shares		Value
COMMON STOCKS (continued)
Technology Hardware, Storage & Peripherals - 3.9%
Apple, Inc.		107,597		$   33,302,347
Textiles, Apparel & Luxury Goods - 2.3%
NIKE, Inc., Class B		76,760		7,391,988
PVH Corp.		42,413		3,697,141
Under Armour, Inc., Class C (A)		214,981		3,861,059
VF Corp.		55,435		4,599,442
				19,549,630
Total Common Stocks (Cost $620,498,072)				843,275,719
OTHER INVESTMENT COMPANY - 8.9%
Securities Lending Collateral - 8.9%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		76,946,212		76,946,212
Total Other Investment Company (Cost $76,946,212)				76,946,212
Total Investments (Cost $697,444,284)				920,221,931
Net Other Assets (Liabilities) - (7.0)%				(59,859,062	)
Net Assets - 100.0%				$  860,362,869

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Large Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	834,915,504	$	8,360,215	$	—	$	843,275,719
Other Investment Company		76,946,212		—		—		76,946,212
Total Investments	$	911,861,716	$	8,360,215	$	—	$	920,221,931

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $75,249,841. 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.
(C)	Security is exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the security is deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the value of the 144A security is $8,360,215, representing 1.0% of the Fund’s net assets.
(D)	Rate disclosed reflects the yield at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Large Value Opportunities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.5%
Aerospace & Defense - 0.3%
Northrop Grumman Corp.		3,469		$  1,299,383
Airlines - 1.6%
Delta Air Lines, Inc.		74,622		4,159,430
United Airlines Holdings, Inc. (A)		33,407		2,498,844
				6,658,274
Banks - 8.8%
Bank of America Corp.		222,662		7,309,994
Citigroup, Inc.		28,057		2,087,721
Fifth Third Bancorp		152,431		4,336,662
JPMorgan Chase & Co.		62,435		8,263,897
Popular, Inc.		68,341		3,824,362
SVB Financial Group (A)		7,527		1,808,964
US Bancorp		113,605		6,046,058
Wells Fargo & Co.		44,037		2,067,097
				35,744,755
Beverages - 3.2%
Coca-Cola Co.		191,263		11,169,759
Monster Beverage Corp. (A)		1,469		97,836
PepsiCo, Inc.		11,505		1,633,940
				12,901,535
Biotechnology - 2.4%
Amgen, Inc.		1,765		381,328
Biogen, Inc. (A)		10,323		2,775,339
Gilead Sciences, Inc.		42,923		2,712,734
Incyte Corp. (A)		52,233		3,816,665
				9,686,066
Capital Markets - 5.8%
Ameriprise Financial, Inc.		11,276		1,865,163
Charles Schwab Corp.		115,325		5,253,054
E*TRADE Financial Corp.		74,733		3,185,120
FactSet Research Systems, Inc.		14,115		4,038,443
Franklin Resources, Inc.		140,230		3,547,819
T. Rowe Price Group, Inc.		38,758		5,175,356
TD Ameritrade Holding Corp.		11,767		558,697
				23,623,652
Chemicals - 1.1%
CF Industries Holdings, Inc.		2,338		94,175
Dow, Inc. (A)		98,607		4,542,824
				4,636,999
Commercial Services & Supplies - 1.0%
Cintas Corp.		14,919		4,161,953
Communications Equipment - 2.3%
Cisco Systems, Inc.		204,746		9,412,174
Construction & Engineering - 0.7%
AECOM (A)		58,614		2,826,953
Consumer Finance - 2.6%
Capital One Financial Corp.		53,335		5,322,833

	Shares		Value
COMMON STOCKS (continued)
Consumer Finance (continued)
Credit Acceptance Corp. (A)		2,658		$   1,140,229
Discover Financial Services		52,913		3,975,354
				10,438,416
Containers & Packaging - 1.1%
Ball Corp.		63,036		4,549,938
Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc., Class B (A)		20,095		4,509,921
Diversified Telecommunication Services - 2.0%
AT&T, Inc.		117,488		4,419,899
Verizon Communications, Inc.		59,296		3,524,554
				7,944,453
Electric Utilities - 2.6%
Evergy, Inc.		69,134		4,988,710
Exelon Corp.		116,187		5,529,339
				10,518,049
Electronic Equipment, Instruments & Components - 0.2%
CDW Corp.		5,012		653,815
Entertainment - 0.8%
Walt Disney Co.		24,226		3,350,698
Equity Real Estate Investment Trusts - 3.5%
Host Hotels & Resorts, Inc.		240,083		3,922,956
Public Storage		23,272		5,207,343
Simon Property Group, Inc.		36,765		4,895,260
				14,025,559
Food & Staples Retailing - 0.2%
Walmart, Inc.		6,541		748,879
Food Products - 2.6%
Hershey Co.		19,952		3,095,952
Kellogg Co.		50,587		3,450,539
Tyson Foods, Inc., Class A		50,074		4,137,615
				10,684,106
Health Care Equipment & Supplies - 1.3%
Align Technology, Inc. (A)		14,234		3,659,561
Cooper Cos., Inc.		1,811		628,218
Medtronic PLC		3,582		413,506
STERIS PLC		3,416		514,757
				5,216,042
Health Care Providers & Services - 1.5%
CVS Health Corp.		92,214		6,253,953
Hotels, Restaurants & Leisure - 0.5%
Darden Restaurants, Inc.		18,308		2,131,600
Household Durables - 0.3%
Newell Brands, Inc.		16,820		328,494
PulteGroup, Inc.		18,958		846,475
				1,174,969
Household Products - 4.7%
Church & Dwight Co., Inc.		4,700		348,834
Clorox Co.		26,856		4,224,717
Colgate-Palmolive Co.		83,123		6,132,815

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Large Value Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Household Products (continued)
Kimberly-Clark Corp.		23,545		$   3,372,586
Procter & Gamble Co.		40,594		5,058,824
				19,137,776
Independent Power & Renewable Electricity Producers - 2.1%
AES Corp.		193,019		3,833,357
NRG Energy, Inc.		36,278		1,338,295
Vistra Energy Corp.		146,005		3,288,033
				8,459,685
Industrial Conglomerates - 0.5%
3M Co.		11,848		1,879,804
Insurance - 5.2%
Aflac, Inc.		98,320		5,070,363
Allstate Corp.		45,395		5,381,123
Arch Capital Group, Ltd. (A)		28,567		1,261,519
Chubb, Ltd.		10,770		1,636,932
Hartford Financial Services Group, Inc.		74,743		4,430,765
MetLife, Inc.		68,424		3,401,357
				21,182,059
Internet & Direct Marketing Retail - 1.4%
Booking Holdings, Inc. (A)		1,095		2,004,452
eBay, Inc.		106,383		3,570,214
				5,574,666
IT Services - 2.7%
Automatic Data Processing, Inc.		4,292		735,606
International Business Machines Corp.		40,404		5,807,267
Visa, Inc., Class A		21,354		4,248,805
				10,791,678
Machinery - 2.6%
Allison Transmission Holdings, Inc.		78,170		3,455,114
Cummins, Inc.		18,957		3,032,552
Woodward, Inc.		32,875		3,823,691
				10,311,357
Media - 3.3%
Altice USA, Inc., Class A (A)		79,296		2,169,538
AMC Networks, Inc., Class A (A)		8,127		297,367
Charter Communications, Inc., Class A (A)		8,073		4,177,455
Comcast Corp., Class A		51,888		2,241,043
Discovery, Inc., Class C (A)		17,195		477,505
Omnicom Group, Inc.		54,176		4,079,994
				13,442,902
Oil, Gas & Consumable Fuels - 8.2%
Chevron Corp.		88,602		9,492,818
ConocoPhillips		92,580		5,502,029
Exxon Mobil Corp.		143,080		8,888,130
HollyFrontier Corp.		32,433		1,456,890
Phillips 66		50,177		4,584,673
Valero Energy Corp.		19,413		1,636,710
Williams Cos., Inc.		74,877		1,549,205
				33,110,455
Pharmaceuticals - 9.0%
Bristol-Myers Squibb Co.		92,061		5,795,240
Jazz Pharmaceuticals PLC (A)		26,629		3,817,267
Johnson & Johnson		74,172		11,041,986

	Shares		Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Merck & Co., Inc.		116,900		$   9,987,936
Pfizer, Inc.		152,398		5,675,301
				36,317,730
Road & Rail - 1.0%
CSX Corp.		55,196		4,213,663
Semiconductors & Semiconductor Equipment - 2.8%
Intel Corp.		100,769		6,442,162
Lam Research Corp.		1,562		465,804
QUALCOMM, Inc.		9,129		778,795
Texas Instruments, Inc.		31,136		3,756,559
				11,443,320
Software - 2.2%
Adobe, Inc. (A)		3,077		1,080,458
Intuit, Inc.		13,671		3,833,075
Oracle Corp.		73,268		3,842,906
				8,756,439
Specialty Retail - 1.7%
AutoZone, Inc. (A)		3,347		3,540,992
Home Depot, Inc.		13,806		3,149,149
				6,690,141
Technology Hardware, Storage & Peripherals - 1.0%
Apple, Inc.		13,504		4,179,623
Tobacco - 1.6%
Altria Group, Inc.		134,139		6,375,627
Wireless Telecommunication Services - 0.0% (B)
Sprint Corp. (A) (C)		5,840		25,521
Total Common Stocks (Cost $378,822,237)				395,044,588
EXCHANGE-TRADED FUND - 2.0%
U.S. Equity Fund - 2.0%
iShares Russell 1000 Value ETF (C)		60,558		8,088,126
Total Exchange-Traded Fund (Cost $7,701,201)				8,088,126
OTHER INVESTMENT COMPANY - 2.3%
Securities Lending Collateral - 2.3%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		9,253,877		9,253,877
Total Other Investment Company (Cost $9,253,877)				9,253,877
Total Investments (Cost $395,777,315)				412,386,591
Net Other Assets (Liabilities) - (1.8)%				(7,124,839	)
Net Assets - 100.0%				$  405,261,752

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Large Value Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	395,044,588	$	—	$	—	$	395,044,588
Exchange-Traded Fund		8,088,126		—		—		8,088,126
Other Investment Company		9,253,877		—		—		9,253,877
Total Investments	$	412,386,591	$	—	$	—	$	412,386,591

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $9,070,857. 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)	Rate disclosed reflects the yield at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Long/Short Strategy

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 107.7%
Aerospace & Defense - 2.8%
General Dynamics Corp. (A)		453		$  79,474
Northrop Grumman Corp.		288		107,876
United Technologies Corp.		482		72,397
				259,747
Auto Components - 0.2%
Magna International, Inc.		388		19,668
Banks - 2.7%
Citigroup, Inc.		2,307		171,664
First Horizon National Corp.		1,815		29,040
Regions Financial Corp.		3,007		46,819
				247,523
Beverages - 1.7%
Coca-Cola Co.		1,755		102,492
Constellation Brands, Inc., Class A		265		49,900
				152,392
Biotechnology - 0.8%
AbbVie, Inc.		654		52,987
Alexion Pharmaceuticals, Inc. (B)		184		18,288
				71,275
Building Products - 0.2%
Masco Corp.		474		22,525
Capital Markets - 1.7%
Ameriprise Financial, Inc.		209		34,571
BlackRock, Inc.		26		13,711
Charles Schwab Corp.		586		26,692
Morgan Stanley		482		25,189
State Street Corp.		343		25,941
T. Rowe Price Group, Inc.		243		32,448
				158,552
Chemicals - 4.4%
Air Products & Chemicals, Inc.		269		64,213
Celanese Corp. (A)		403		41,710
DuPont de Nemours, Inc.		824		42,172
FMC Corp.		789		75,421
Linde PLC		889		180,583
				404,099
Commercial Services & Supplies - 0.5%
Waste Management, Inc.		382		46,489
Consumer Finance - 1.0%
American Express Co.		517		67,143
Capital One Financial Corp.		259		25,848
				92,991
Containers & Packaging - 0.4%
Crown Holdings, Inc. (B)		440		32,573
Electric Utilities - 5.7%
American Electric Power Co., Inc.		389		40,542
Edison International		973		74,483
Entergy Corp.		860		113,107

	Shares		Value
COMMON STOCKS (continued)
Electric Utilities (continued)
NextEra Energy, Inc. (A)		717		$   192,299
Xcel Energy, Inc.		1,420		98,250
				518,681
Electrical Equipment - 1.2%
AMETEK, Inc.		268		26,036
Eaton Corp. PLC		860		81,244
				107,280
Entertainment - 0.6%
Electronic Arts, Inc. (B)		206		22,231
Netflix, Inc. (B)		85		29,333
				51,564
Equity Real Estate Investment Trusts - 3.0%
Equinix, Inc.		92		54,255
Invitation Homes, Inc.		966		30,400
Prologis, Inc.		1,482		137,648
Ventas, Inc.		395		22,855
VICI Properties, Inc.		1,133		30,365
				275,523
Food & Staples Retailing - 0.4%
Costco Wholesale Corp.		105		32,080
Food Products - 1.6%
Conagra Brands, Inc.		617		20,312
Mondelez International, Inc., Class A (A)		2,212		126,924
				147,236
Health Care Equipment & Supplies - 3.2%
Baxter International, Inc.		789		70,395
Boston Scientific Corp. (A) (B)		1,754		73,440
Intuitive Surgical, Inc. (B)		54		30,228
Medtronic PLC		169		19,509
Zimmer Biomet Holdings, Inc.		675		99,833
				293,405
Health Care Providers & Services - 4.4%
Cigna Corp. (A) (B)		927		178,336
HCA Healthcare, Inc.		451		62,599
McKesson Corp.		382		54,477
UnitedHealth Group, Inc.		400		108,980
				404,392
Hotels, Restaurants & Leisure - 2.0%
Hilton Worldwide Holdings, Inc.		223		24,039
Royal Caribbean Cruises, Ltd.		210		24,587
Yum! Brands, Inc.		1,235		130,626
				179,252
Household Durables - 1.0%
D.R. Horton, Inc.		415		24,568
Lennar Corp., Class A		951		63,108
				87,676
Household Products - 0.8%
Procter & Gamble Co.		578		72,030
Industrial Conglomerates - 0.6%
Honeywell International, Inc.		340		58,895

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Long/Short Strategy

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Insurance - 1.5%
American International Group, Inc.		431		$   21,662
Aon PLC		69		15,197
Progressive Corp.		938		75,687
Prudential Financial, Inc.		153		13,932
RenaissanceRe Holdings, Ltd.		72		13,640
				140,118
Interactive Media & Services - 6.8%
Alphabet, Inc., Class C (A) (B)		326		467,559
Facebook, Inc., Class A (B)		399		80,562
Snap, Inc., Class A (B)		4,143		76,148
				624,269
Internet & Direct Marketing Retail - 3.5%
Amazon.com, Inc. (A) (B)		161		323,404
IT Services - 10.4%
Automatic Data Processing, Inc.		526		90,151
Fidelity National Information Services, Inc.		949		136,333
Fiserv, Inc. (B)		2,170		257,384
International Business Machines Corp.		95		13,604
Leidos Holdings, Inc.		1,035		103,987
Mastercard, Inc., Class A (A)		595		187,984
PayPal Holdings, Inc. (B)		582		66,284
WEX, Inc. (B)		439		95,228
				950,955
Life Sciences Tools & Services - 0.6%
Thermo Fisher Scientific, Inc.		185		57,940
Machinery - 3.4%
Gardner Denver Holdings, Inc. (B)		413		14,583
Ingersoll-Rand PLC		1,213		161,608
Parker-Hannifin Corp.		140		27,397
Stanley Black & Decker, Inc.		680		108,344
				311,932
Media - 3.3%
Altice USA, Inc., Class A (B)		2,740		74,966
Charter Communications, Inc., Class A (B)		249		128,848
Comcast Corp., Class A		1,097		47,379
Discovery, Inc., Class A (B)		1,752		51,264
				302,457
Multi-Utilities - 0.7%
CMS Energy Corp.		409		28,021
Sempra Energy		221		35,501
				63,522
Multiline Retail - 0.3%
Dollar General Corp.		160		24,546
Oil, Gas & Consumable Fuels - 6.5%
Chevron Corp.		1,046		112,068
ConocoPhillips		1,093		64,957
Diamondback Energy, Inc.		1,119		83,254
Marathon Petroleum Corp.		1,265		68,943
ONEOK, Inc.		676		50,612
Parsley Energy, Inc., Class A		2,303		38,322
Pioneer Natural Resources Co.		639		86,265
TC Energy Corp.		1,589		87,109
				591,530

	Shares		Value
COMMON STOCKS (continued)
Personal Products - 0.2%
Estee Lauder Cos., Inc., Class A		70		$   13,661
Pharmaceuticals - 0.9%
Bristol-Myers Squibb Co.		1,085		68,301
Eli Lilly & Co.		77		10,752
				79,053
Road & Rail - 6.8%
Kansas City Southern		819		138,157
Lyft, Inc., Class A		510		24,215
Norfolk Southern Corp. (A)		1,613		335,843
Union Pacific Corp. (A)		692		124,158
				622,373
Semiconductors & Semiconductor Equipment - 7.8%
Advanced Micro Devices, Inc. (B)		2,159		101,473
Analog Devices, Inc.		560		61,460
ASML Holding NV (C)		79		22,172
Lam Research Corp.		92		27,435
Micron Technology, Inc. (B)		627		33,287
NVIDIA Corp. (A)		537		126,963
NXP Semiconductors NV		788		99,966
ON Semiconductor Corp. (B)		1,073		24,840
Taiwan Semiconductor Manufacturing Co., Ltd., ADR		1,450		78,213
Teradyne, Inc.		552		36,427
Texas Instruments, Inc. (A)		864		104,242
				716,478
Software - 7.1%
Intuit, Inc.		435		121,965
Microsoft Corp. (A)		1,335		227,257
salesforce.com, Inc. (A) (B)		931		169,731
ServiceNow, Inc. (B)		233		78,807
VMware, Inc., Class A (B)		362		53,598
				651,358
Specialty Retail - 5.5%
AutoZone, Inc. (B)		77		81,463
Best Buy Co., Inc.		668		56,573
Home Depot, Inc.		202		46,076
Lowe’s Cos., Inc.		743		86,366
O’Reilly Automotive, Inc. (A) (B)		288		116,957
Ross Stores, Inc.		303		33,994
TJX Cos., Inc.		1,337		78,936
				500,365
Textiles, Apparel & Luxury Goods - 1.0%
NIKE, Inc., Class B		990		95,337
Tobacco - 0.5%
Philip Morris International, Inc.		597		49,372
Total Common Stocks (Cost $7,921,572)				9,854,518
RIGHT - 0.1%
Pharmaceuticals - 0.1%
Bristol-Myers Squibb Co., (B) Exercise Price $3.48, Expiration Date 03/31/2021		1,024		3,563
Total Right (Cost $2,181)				3,563
Total Investments Before Securities Sold Short (Cost $7,923,753)				9,858,081

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Long/Short Strategy

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares			Value
SECURITIES SOLD SHORT - (77.4)%
COMMON STOCKS - (77.4)%
Aerospace & Defense - (2.3)%
Boeing Co.		(233	)		$   (74,157	)
Huntington Ingalls Industries, Inc.		(535	)		(139,635	)
					(213,792	)
Air Freight & Logistics - (1.6)%
CH Robinson Worldwide, Inc.		(529	)		(38,204	)
Expeditors International of Washington, Inc.		(1,044	)		(76,254	)
United Parcel Service, Inc., Class B		(277	)		(28,675	)
					(143,133	)
Auto Components - (0.9)%
Autoliv, Inc.		(1,078	)		(82,607	)
Automobiles - (0.7)%
General Motors Co.		(1,308	)		(43,674	)
Harley-Davidson, Inc.		(531	)		(17,736	)
					(61,410	)
Banks - (2.2)%
Associated Banc-Corp.		(2,490	)		(49,626	)
BancorpSouth Bank		(704	)		(20,113	)
Commerce Bancshares, Inc.		(587	)		(39,717	)
People’s United Financial, Inc.		(2,458	)		(37,902	)
PNC Financial Services Group, Inc.		(28	)		(4,159	)
US Bancorp		(992	)		(52,794	)
					(204,311	)
Beverages - (0.5)%
Brown-Forman Corp., Class B		(693	)		(46,875	)
Biotechnology - (1.2)%
Amgen, Inc.		(318	)		(68,704	)
Gilead Sciences, Inc.		(576	)		(36,403	)
					(105,107	)
Building Products - (1.5)%
Johnson Controls International PLC		(1,806	)		(71,247	)
Lennox International, Inc.		(272	)		(63,370	)
					(134,617	)
Capital Markets - (1.5)%
Bank of New York Mellon Corp.		(1,166	)		(52,214	)
Franklin Resources, Inc.		(1,428	)		(36,128	)
Invesco, Ltd.		(806	)		(13,944	)
Waddell & Reed Financial, Inc., Class A		(2,407	)		(38,464	)
					(140,750	)
Chemicals - (2.1)%
Albemarle Corp.		(1,211	)		(97,219	)
Ecolab, Inc.		(275	)		(53,930	)
LyondellBasell Industries NV, Class A		(541	)		(42,123	)
					(193,272	)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Communications Equipment - (1.6)%
Cisco Systems, Inc.		(2,167	)		$   (99,617	)
Juniper Networks, Inc.		(2,199	)		(50,445	)
					(150,062	)
Consumer Finance - (0.3)%
Discover Financial Services		(320	)		(24,042	)
Containers & Packaging - (1.8)%
Avery Dennison Corp.		(124	)		(16,274	)
International Paper Co.		(2,007	)		(81,725	)
Sealed Air Corp.		(739	)		(26,235	)
Sonoco Products Co.		(667	)		(38,112	)
					(162,346	)
Diversified Telecommunication Services - (1.2)%
AT&T, Inc.		(2,982	)		(112,183	)
Electric Utilities - (2.9)%
Duke Energy Corp.		(1,748	)		(170,657	)
Eversource Energy		(294	)		(27,177	)
Pinnacle West Capital Corp.		(676	)		(66,039	)
					(263,873	)
Electrical Equipment - (1.3)%
Acuity Brands, Inc.		(706	)		(83,216	)
Hubbell, Inc.		(218	)		(31,224	)
					(114,440	)
Electronic Equipment, Instruments & Components - (0.2)%
Amphenol Corp., Class A		(156	)		(15,517	)
Energy Equipment & Services - (1.9)%
Baker Hughes Co., Class A		(713	)		(15,444	)
Halliburton Co.		(4,669	)		(101,831	)
National Oilwell Varco, Inc.		(915	)		(18,858	)
Schlumberger, Ltd.		(1,140	)		(38,201	)
					(174,334	)
Entertainment - (3.0)%
Activision Blizzard, Inc.		(1,009	)		(59,006	)
Cinemark Holdings, Inc.		(1,903	)		(59,964	)
Spotify Technology SA		(474	)		(66,976	)
Take-Two Interactive Software, Inc.		(597	)		(74,410	)
Walt Disney Co.		(99	)		(13,693	)
					(274,049	)
Equity Real Estate Investment Trusts - (2.6)%
Apartment Investment & Management Co., Class A		(562	)		(29,623	)
Apple Hospitality, Inc.		(1,371	)		(20,592	)
Iron Mountain, Inc.		(530	)		(16,753	)
Macerich Co.		(1,325	)		(29,561	)
Realty Income Corp.		(758	)		(59,435	)
Regency Centers Corp.		(331	)		(20,535	)
Simon Property Group, Inc.		(466	)		(62,048	)
					(238,547	)
Food & Staples Retailing - (2.4)%
Kroger Co.		(4,157	)		(111,657	)
Sysco Corp.		(240	)		(19,714	)
Walgreens Boots Alliance, Inc.		(1,793	)		(91,174	)
					(222,545	)

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Long/Short Strategy

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Food Products - (1.3)%
Campbell Soup Co.		(1,024	)		$   (49,552	)
Kellogg Co.		(1,039	)		(70,870	)
					(120,422	)
Health Care Equipment & Supplies - (0.6)%
DENTSPLY SIRONA, Inc.		(399	)		(22,344	)
Stryker Corp.		(156	)		(32,869	)
					(55,213	)
Health Care Providers & Services - (3.3)%
AmerisourceBergen Corp.		(1,266	)		(108,319	)
Cardinal Health, Inc.		(705	)		(36,103	)
Henry Schein, Inc.		(1,838	)		(126,712	)
Patterson Cos., Inc.		(1,558	)		(34,291	)
					(305,425	)
Health Care Technology - (0.7)%
Cerner Corp.		(913	)		(65,581	)
Hotels, Restaurants & Leisure - (1.4)%
Chipotle Mexican Grill, Inc.		(112	)		(97,077	)
Marriott International, Inc., Class A		(86	)		(12,045	)
Starbucks Corp.		(238	)		(20,190	)
					(129,312	)
Household Durables - (0.7)%
PulteGroup, Inc.		(352	)		(15,717	)
Toll Brothers, Inc.		(1,053	)		(46,711	)
					(62,428	)
Household Products - (1.2)%
Clorox Co.		(454	)		(71,419	)
Colgate-Palmolive Co.		(533	)		(39,324	)
					(110,743	)
Industrial Conglomerates - (0.5)%
3M Co.		(258	)		(40,934	)
Insurance - (2.3)%
Aflac, Inc.		(829	)		(42,752	)
Everest RE Group, Ltd.		(118	)		(32,635	)
Principal Financial Group, Inc.		(758	)		(40,136	)
Travelers Cos., Inc.		(565	)		(74,365	)
Unum Group		(719	)		(19,190	)
					(209,078	)
Internet & Direct Marketing Retail - (0.6)%
eBay, Inc.		(1,729	)		(58,025	)
IT Services - (2.9)%
Infosys, Ltd., ADR		(3,486	)		(38,206	)
Jack Henry & Associates, Inc.		(429	)		(64,153	)
Paychex, Inc.		(935	)		(80,195	)
Western Union Co.		(3,008	)		(80,915	)
					(263,469	)
Leisure Products - (0.4)%
Mattel, Inc.		(2,579	)		(37,731	)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Life Sciences Tools & Services - (1.8)%
Mettler-Toledo International, Inc.		(55	)		$   (41,645	)
Waters Corp.		(546	)		(122,189	)
					(163,834	)
Machinery - (1.8)%
Donaldson Co., Inc.		(1,661	)		(86,123	)
Illinois Tool Works, Inc.		(424	)		(74,191	)
					(160,314	)
Media - (3.2)%
AMC Networks, Inc., Class A		(305	)		(11,160	)
Fox Corp., Class A		(896	)		(33,224	)
Interpublic Group of Cos., Inc.		(3,165	)		(71,845	)
Omnicom Group, Inc.		(1,939	)		(146,026	)
Sirius XM Holdings, Inc.		(4,437	)		(31,370	)
					(293,625	)
Multi-Utilities - (2.7)%
Dominion Energy, Inc.		(2,028	)		(173,901	)
DTE Energy Co.		(408	)		(54,105	)
Public Service Enterprise Group, Inc.		(355	)		(21,016	)
					(249,022	)
Multiline Retail - (1.1)%
Kohl’s Corp.		(1,576	)		(67,374	)
Macy’s, Inc.		(2,088	)		(33,304	)
					(100,678	)
Oil, Gas & Consumable Fuels - (4.9)%
Apache Corp.		(1,859	)		(51,011	)
Cabot Oil & Gas Corp.		(814	)		(11,469	)
Devon Energy Corp.		(2,371	)		(51,498	)
Enbridge, Inc.		(2,577	)		(104,807	)
Exxon Mobil Corp.		(1,055	)		(65,537	)
Hess Corp.		(449	)		(25,400	)
HollyFrontier Corp.		(752	)		(33,780	)
Kinder Morgan, Inc.		(672	)		(14,025	)
Marathon Oil Corp.		(3,258	)		(37,043	)
Occidental Petroleum Corp.		(878	)		(34,874	)
Range Resources Corp.		(3,527	)		(10,581	)
Valero Energy Corp.		(142	)		(11,972	)
					(451,997	)
Paper & Forest Products - (0.3)%
Domtar Corp.		(654	)		(22,772	)
Personal Products - (0.3)%
Coty, Inc., Class A		(2,569	)		(26,358	)
Professional Services - (1.5)%
Equifax, Inc.		(190	)		(28,481	)
Robert Half International, Inc.		(1,814	)		(105,520	)
					(134,001	)
Road & Rail - (1.7)%
Heartland Express, Inc.		(3,492	)		(65,265	)
JB Hunt Transport Services, Inc.		(258	)		(27,846	)
Knight-Swift Transportation Holdings, Inc.		(356	)		(13,201	)
Schneider National, Inc., Class B		(1,236	)		(27,526	)
Werner Enterprises, Inc.		(684	)		(25,212	)
					(159,050	)

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Long/Short Strategy

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment - (1.3)%
Intel Corp.		(334	)		$   (21,353	)
QUALCOMM, Inc.		(704	)		(60,058	)
Universal Display Corp.		(195	)		(34,353	)
					(115,764	)
Software - (1.4)%
Citrix Systems, Inc.		(107	)		(12,970	)
Oracle Corp.		(1,177	)		(61,734	)
Splunk, Inc.		(347	)		(53,875	)
					(128,579	)
Specialty Retail - (1.4)%
Ascena Retail Group, Inc.		(547	)		(2,407	)
Bed Bath & Beyond, Inc.		(2,811	)		(40,057	)
CarMax, Inc.		(69	)		(6,696	)
Gap, Inc.		(1,028	)		(17,897	)
Williams-Sonoma, Inc.		(925	)		(64,824	)
					(131,881	)
Technology Hardware, Storage & Peripherals - (2.8)%
Hewlett Packard Enterprise Co.		(3,770	)		(52,516	)
HP, Inc.		(1,456	)		(31,042	)

	Shares			Value
SECURITIES SOLD SHORT (continued)
COMMON STOCKS (continued)
Technology Hardware, Storage & Peripherals (continued)
NetApp, Inc.		(877	)		$   (46,832	)
Seagate Technology PLC		(1,092	)		(62,233	)
Western Digital Corp.		(555	)		(36,352	)
Xerox Holdings Corp.		(754	)		(26,820	)
					(255,795	)
Textiles, Apparel & Luxury Goods - (0.9)%
Canada Goose Holdings, Inc.		(314	)		(9,420	)
Hanesbrands, Inc.		(2,217	)		(30,506	)
VF Corp.		(545	)		(45,219	)
					(85,145	)
Trading Companies & Distributors - (0.7)%
Fastenal Co.		(1,891	)		(65,958	)
Total Common Stocks (Proceeds $(7,116,140))					(7,080,946	)
Total Securities Sold Short (Proceeds $(7,116,140))					(7,080,946	)
Net Other Assets (Liabilities), Net of Securities Sold Short - 69.6%					6,371,683
Net Assets - 100.0%					$  9,148,818

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	9,854,518		$	—	$	—	$	9,854,518
Right		3,563			—		—		3,563
Total Investments	$	9,858,081		$	—	$	—	$	9,858,081
LIABILITIES
Securities Sold Short
Common Stocks	$	(7,080,946	)	$	—	$	—	$	(7,080,946	)
Total Securities Sold Short	$	(7,080,946	)	$	—	$	—	$	(7,080,946	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	All or a portion of these securities have been segregated as collateral for open securities sold short transactions. The total value of such securities is $95,725.
(B)	Non-income producing securities.
(C)	Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security 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, 2020, the value of the Regulation S security is $22,172, representing 0.2% of the Fund’s net assets.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 80.4%
U.S. Treasury Bill
1.55% (A), 06/11/2020 - 07/23/2020		$  3,593,000		$  3,570,771
1.56% (A), 07/16/2020		4,924,000		4,890,493
1.57% (A), 05/07/2020 - 05/21/2020		33,153,000		33,011,715
1.58% (A), 05/14/2020		33,666,000		33,522,103
1.60% (A), 06/25/2020		571,000		567,595
1.64% (A), 04/23/2020		2,848,000		2,838,337
1.65% (A), 04/30/2020		6,705,000		6,680,367
1.73% (A), 04/09/2020		742,000		739,912
1.87% (A), 03/05/2020		563,000		562,257
1.88% (A), 02/20/2020		995,000		994,307
1.90% (A), 03/26/2020		1,229,000		1,226,313
1.93% (A), 02/13/2020		3,791,000		3,789,452
2.00% (A), 02/06/2020		156,000		155,981
Total Short-Term U.S. Government Obligations (Cost $92,533,652)				92,549,603
	Shares		Value
SHORT-TERM INVESTMENT COMPANIES - 10.7%
Money Market Funds - 10.7%
BlackRock Liquidity Funds T-Fund,
1.48% (A)		770,725		770,725
Dreyfus Treasury Obligations Cash Management Fund,
1.45% (A)		3,147,426		3,147,426
UBS Select Treasury Preferred Fund,
1.48% (A)		8,479,952		8,479,952
Total Short-Term Investment Companies (Cost $12,398,103)				12,398,103
Total Investments (Cost $104,931,755)				104,947,706
Net Other Assets (Liabilities) - 8.9%				10,207,187
Net Assets - 100.0%				$  115,154,893

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

OVER-THE-COUNTER SWAP AGREEMENTS:

Total Return Swap Agreements ^(B)

Reference Entity	Counterparty	Pay/ Receive	Payment Frequency		Maturity Date		Notional Amount			Number of Shares or Units		Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
2-Year U.S. Treasury Note Futures	BOA	Pay		Maturity		03/31/2020		USD	57,184,378		530,000		$	150,856			$	—			$	150,856
5-Year U.S. Treasury Note Futures	BOA	Pay		Maturity		03/31/2020		USD	18,821,843		157,000			68,446				—				68,446
10-Year Japan Government Bond Futures	BOA	Receive		Maturity		03/13/2020		JPY	610,237,400		4,000,000			(11,099	)			—				(11,099	)
10-Year U.S. Treasury Note Futures	BOA	Pay		Maturity		03/20/2020		USD	3,799,429		29,000			18,603				—				18,603
Aluminum Futures	CITI	Receive		Maturity		03/16/2020		USD	390,806		225			5,831				—				5,831
BM&F Bovespa Index Futures	GSI	Pay		Maturity		02/12/2020		BRL	2,317,836		20			(9,157	)			—				(9,157	)
Cocoa Futures	CITI	Pay		Maturity		02/07/2020		USD	221,950		80			210				—				210
Cocoa Futures	CITI	Pay		Maturity		02/28/2020		GBP	504,333		260			5,239				(534	)			5,773
Coffee Futures	CITI	Pay		Maturity		02/12/2020		USD	46,603		37,500			(8,109	)			—				(8,109	)
Copper Futures	CITI	Receive		Maturity		03/16/2020		USD	563,825		100			7,800				—				7,800
Corn Futures	CITI	Receive		Maturity		02/21/2020		USD	1,552,724		405,000			8,662				—				8,662
Cotton No. 2 Futures	CITI	Pay		Maturity		02/07/2020		USD	35,079		50,000			(1,329	)			—				(1,329	)
Euro OAT Futures	BOA	Pay		Maturity		03/06/2020		EUR	1,664,116		10,000			8,966				—				8,966
German Euro BOBL Futures	BOA	Pay		Maturity		03/06/2020		EUR	7,002,140		52,000			17,501				—				17,501
German Euro Bund Futures	BOA	Pay		Maturity		03/06/2020		EUR	521,630		3,000			3,870				—				3,870
German Euro Schatz Futures	BOA	Receive		Maturity		03/06/2020		EUR	17,345,740		155,000			(30,427	)			—				(30,427	)
Gold Futures	MLI	Pay		Maturity		03/31/2020		USD	5,503,380		3,500			54,270				—				54,270
Heating Oil Futures	CITI	Receive		Maturity		02/27/2020		USD	638,885		378,000			23,349				—				23,349
HG Copper Futures	MLI	Receive		Maturity		02/28/2020		USD	891,411		350,000			10,461				—				10,461
HSCEI China Index Futures	GSI	Pay		Maturity		02/27/2020		HKD	11,322,546		1,050			(72,109	)			—				(72,109	)
KOSPI 200 Index Futures	GSI	Pay		Maturity		03/12/2020		KRW	2,753,112,175		10,000,000			82,551				—				82,551
KOSPI 200 Index Futures	MLI	Pay		Maturity		03/12/2020		KRW	5,707,930,885		20,500,000			115,488				—				115,488
Natural Gas Futures	CITI	Receive		Maturity		02/26/2020		USD	1,075,480		510,000			136,570				—				136,570
Palladium Futures	CITI	Pay		Maturity		02/28/2020		USD	174,240		100			48,230				—				48,230
Platinum Futures	CITI	Pay		Maturity		03/31/2020		USD	972,863		1,000			(10,963	)			—				(10,963	)
RBOB Gasoline Futures	CITI	Pay		Maturity		02/27/2020		USD	700,334		420,000			(68,612	)			—				(68,612	)
Silver Futures	MLI	Pay		Maturity		02/28/2020		USD	904,630		50,000			(6,030	)			—				(6,030	)
Soybean Futures	CITI	Receive		Maturity		02/21/2020		USD	3,782,343		420,000			117,843				196				117,647
Soybean Meal Futures	MLI	Receive		Maturity		02/21/2020		USD	1,323,050		4,400			42,650				—				42,650
Soybean Meal Futures	CITI	Receive		Maturity		02/21/2020		USD	2,020,599		6,800			41,799				—				41,799
Soybean Oil Futures	CITI	Pay		Maturity		02/21/2020		USD	40,458		120,000			(4,530	)			—				(4,530	)
Soybean Oil Futures	MLI	Pay		Maturity		02/21/2020		USD	206,970		600,000			(27,330	)			—				(27,330	)
Sugar Futures	CITI	Pay		Maturity		02/18/2020		USD	179,194		1,232,000			801				—				801
Swiss Market Index Futures	MLI	Pay		Maturity		03/20/2020		CHF	741,799		70			(3,425	)			—				(3,425	)
TAIEX Futures	GSI	Pay		Maturity		02/19/2020		TWD	4,859,534		400			(1,137	)			—				(1,137	)
Wheat Futures	CITI	Pay		Maturity		02/21/2020		USD	1,935,622		340,000			(52,872	)			—				(52,872	)
WTI Crude Oil Futures	MLI	Pay		Maturity		02/19/2020		USD	2,728,480		46,000			(356,720	)			—				(356,720	)
Zinc Futures	CITI	Receive		Maturity		03/16/2020		USD	569,406		250			18,156				—				18,156
Total													$	324,303			$	(338	)		$	324,641

	Value
OTC Swap Agreements, at value (Assets)		$	988,152
OTC Swap Agreements, at value (Liabilities)		$	(663,849	)

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
90-Day Eurodollar		45		06/15/2020		$	11,071,406		$	11,080,688		$	9,282		$	—
90-Day Eurodollar		59		09/14/2020			14,529,011			14,546,450			17,439			—
90-Day Eurodollar		71		12/14/2020			17,483,477			17,512,150			28,673			—
90-Day Eurodollar		94		03/15/2021			23,162,168			23,212,125			49,957			—
90-Day Eurodollar		105		06/14/2021			25,877,067			25,936,312			59,245			—
90-Day Eurodollar		110		09/13/2021			27,110,335			27,176,875			66,540			—
90-Day Eurodollar		114		12/13/2021			28,085,207			28,155,150			69,943			—
90-Day Sterling		63		06/17/2020			10,342,082			10,334,463			—			(7,619	)
90-Day Sterling		59		09/16/2020			9,688,237			9,683,663			—			(4,574	)
90-Day Sterling		56		12/16/2020			9,194,453			9,191,273			—			(3,180	)
90-Day Sterling		52		03/17/2021			8,538,604			8,536,470			—			(2,134	)
90-Day Sterling		48		06/16/2021			7,880,580			7,879,423			—			(1,157	)
90-Day Sterling		45		09/15/2021			7,387,030			7,386,587			—			(443	)
90-Day Sterling		43		12/15/2021			7,056,800			7,057,585			785			—
3-Month Aluminum		1		03/04/2020			44,230			42,681			—			(1,549	)
3-Month Aluminum		1		03/06/2020			43,528			42,695			—			(833	)
3-Month Aluminum		1		03/09/2020			43,840			42,728			—			(1,112	)
3-Month Aluminum		1		03/10/2020			43,903			42,722			—			(1,181	)
3-Month Aluminum		1		03/17/2020			44,204			42,768			—			(1,436	)
3-Month Aluminum		1		03/19/2020			44,729			42,775			—			(1,954	)
3-Month Aluminum		1		03/20/2020			45,008			42,775			—			(2,233	)
3-Month Aluminum		1		03/23/2020			45,097			42,797			—			(2,300	)
3-Month Copper		1		03/12/2020			153,269			139,005			—			(14,264	)
3-Month Copper		1		04/28/2020			143,247			139,167			—			(4,080	)
3-Month EURIBOR		6		12/14/2020			1,671,112			1,671,144			32			—
3-Month EURIBOR		14		03/15/2021			3,898,351			3,899,141			790			—
3-Month EURIBOR		21		06/14/2021			5,845,733			5,848,420			2,687			—
3-Month EURIBOR		22		09/13/2021			6,122,918			6,126,611			3,693			—
3-Month EURIBOR		13		12/13/2021			3,617,494			3,619,910			2,416			—
3-Month Euroswiss		2		12/14/2020			523,131			523,204			73			—
3-Month Zinc		1		02/26/2020			56,753			55,156			—			(1,597	)
3-Month Zinc		1		02/28/2020			57,278			55,147			—			(2,131	)
3-Month Zinc		1		03/02/2020			56,615			55,142			—			(1,473	)
3-Month Zinc		1		03/03/2020			55,504			55,138			—			(366	)
3-Month Zinc		1		03/04/2020			55,690			55,136			—			(554	)
3-Month Zinc		1		03/06/2020			56,478			55,134			—			(1,344	)
3-Month Zinc		1		03/09/2020			55,628			55,133			—			(495	)
3-Month Zinc		1		03/10/2020			55,741			55,132			—			(609	)
3-Month Zinc		1		03/11/2020			55,878			55,131			—			(747	)
3-Month Zinc		1		03/20/2020			58,448			55,096			—			(3,352	)
3-Month Zinc		1		03/23/2020			57,493			55,093			—			(2,400	)
3-Month Zinc		1		03/31/2020			57,143			55,071			—			(2,072	)
3-Month Zinc		6		04/06/2020			349,682			330,336			—			(19,346	)
3-Year Australia Treasury Bond		328		03/16/2020			25,400,045			25,465,497			65,452			—
5-Year U.S. Treasury Note		68		03/31/2020			8,111,294			8,181,781			70,487			—
10-Year Australia Treasury Bond		37		03/16/2020			3,617,217			3,662,834			45,617			—
10-Year Canada Government Bond		16		03/20/2020			1,692,899			1,718,845			25,946			—
10-Year U.S. Treasury Note		67		03/20/2020			8,685,015			8,820,969			135,954			—
30-Year U.S. Treasury Bond		42		03/20/2020			6,695,568			6,868,313			172,745			—
Aluminum		1		03/05/2020			43,865			42,688			—			(1,177	)
Aluminum		5		03/16/2020			223,203			213,875			—			(9,328	)
Amsterdam Index		3		02/21/2020			405,124			391,173			—			(13,951	)
Brent Crude Oil		79		02/28/2020			5,056,325			4,472,980			—			(583,345	)
CAC 40 Index		31		02/21/2020			2,067,974			1,995,446			—			(72,528	)
Canada Bankers’ Acceptance		14		06/15/2020			2,596,805			2,597,495			690			—
Canada Bankers’ Acceptance		15		09/14/2020			2,782,493			2,785,439			2,946			—
Cocoa		3		05/13/2020			84,107			84,030			—			(77	)
Cocoa		16		03/16/2020			426,714			444,320			17,606			—
Cocoa		1		03/16/2020			26,383			25,816			—			(567	)
Coffee		6		03/19/2020			300,607			230,963			—			(69,644	)
Copper		1		03/16/2020			153,240			139,006			—			(14,234	)

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS (continued):

Long Futures Contracts (continued)

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
DAX® Index		13		03/20/2020		$	4,788,099		$	4,683,572		$	—		$	(104,527	)
E-Mini DJIA Index		15		03/20/2020			2,133,754			2,114,700			—			(19,054	)
E-Mini Russell 2000® Index		40		03/20/2020			3,309,518			3,229,400			—			(80,118	)
Euro OAT		8		03/06/2020			1,463,915			1,483,642			19,727			—
EURO STOXX 50® Index		62		03/20/2020			2,572,456			2,502,215			—			(70,241	)
Euro-BTP Italy Government Bond		4		03/06/2020			655,877			656,690			813			—
FTSE 100 Index		57		03/20/2020			5,639,083			5,432,503			—			(206,580	)
FTSE China A50 Index		14		02/27/2020			195,350			179,655			—			(15,695	)
FTSE JSE Top 40 Index		2		03/19/2020			68,611			66,838			—			(1,773	)
FTSE MIB Index		4		03/20/2020			522,237			515,020			—			(7,217	)
German Euro BOBL		10		03/06/2020			1,489,293			1,496,773			7,480			—
German Euro Bund		22		03/06/2020			4,235,158			4,270,817			35,659			—
Gold 100 oz		46		04/28/2020			7,223,853			7,304,340			80,487			—
Hang Seng Index		25		02/27/2020			4,432,125			4,222,086			—			(210,039	)
IBEX 35 Index		11		02/21/2020			1,159,928			1,143,988			—			(15,940	)
KOSPI 200 Index		15		03/12/2020			922,953			897,187			—			(25,766	)
MSCI EAFE Index		3		03/20/2020			303,921			296,475			—			(7,446	)
MSCI Emerging Markets Index		11		03/20/2020			615,273			577,555			—			(37,718	)
MSCI Singapore Index		6		02/27/2020			161,455			160,157			—			(1,298	)
MSCI Taiwan Index		8		02/26/2020			367,325			352,480			—			(14,845	)
NASDAQ-100 E-Mini Index		11		03/20/2020			1,955,881			1,979,505			23,624			—
Nikkei 225 Index		17		03/12/2020			3,673,314			3,628,905			—			(44,409	)
OMX Stockholm 30 Index		25		02/21/2020			464,958			464,064			—			(894	)
RBOB Gasoline		7		02/28/2020			491,214			442,205			—			(49,009	)
S&P 500® E-Mini Index		10		03/20/2020			1,610,301			1,612,000			1,699			—
S&P Midcap 400® E-Mini Index		4		03/20/2020			822,271			802,800			—			(19,471	)
S&P/ASX 200 Index		24		03/19/2020			2,733,118			2,793,005			59,887			—
S&P/TSX 60 Index		66		03/19/2020			10,175,651			10,288,499			112,848			—
Sugar No.11		89		02/28/2020			1,401,321			1,456,325			55,004			—
TOPIX Index		58		03/12/2020			9,227,791			8,987,310			—			(240,481	)
U.K. Gilt		110		03/27/2020			19,458,341			19,600,707			142,366			—
U.S. Treasury Ultra Bond		26		03/20/2020			4,873,366			5,035,875			162,509			—
Wheat		19		03/13/2020			525,591			526,063			472			—
Zinc		9		03/16/2020			522,986			496,125			—			(26,861	)
Total												$	1,551,573		$	(2,050,768	)

Short Futures Contracts

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
3-Month Aluminum		(1	)		03/04/2020		$	(44,028	)		$	(42,681	)		$	1,347		$	—
3-Month Aluminum		(1	)		03/06/2020			(43,599	)			(42,695	)			904			—
3-Month Aluminum		(1	)		03/09/2020			(43,917	)			(42,728	)			1,189			—
3-Month Aluminum		(1	)		03/10/2020			(43,874	)			(42,722	)			1,152			—
3-Month Aluminum		(1	)		03/17/2020			(44,197	)			(42,768	)			1,429			—
3-Month Aluminum		(1	)		03/19/2020			(44,507	)			(42,775	)			1,732			—
3-Month Aluminum		(1	)		03/20/2020			(44,853	)			(42,775	)			2,078			—
3-Month Aluminum		(1	)		03/23/2020			(45,147	)			(42,797	)			2,350			—
3-Month Copper		(1	)		03/12/2020			(153,184	)			(139,005	)			14,179			—
3-Month Copper		(1	)		04/28/2020			(143,014	)			(139,167	)			3,847			—
3-Month EURIBOR		(28	)		06/15/2020			(7,793,249	)			(7,797,117	)			—			(3,868	)
3-Month EURIBOR		(13	)		09/14/2020			(3,618,275	)			(3,620,631	)			—			(2,356	)
3-Month Euroswiss		(11	)		06/15/2020			(2,875,630	)			(2,876,480	)			—			(850	)
3-Month Euroswiss		(4	)		09/14/2020			(1,045,785	)			(1,046,304	)			—			(519	)
3-Month Zinc		(1	)		02/26/2020			(57,080	)			(55,156	)			1,924			—
3-Month Zinc		(1	)		02/28/2020			(57,284	)			(55,147	)			2,137			—
3-Month Zinc		(1	)		03/02/2020			(56,296	)			(55,142	)			1,154			—
3-Month Zinc		(1	)		03/03/2020			(55,382	)			(55,138	)			244			—
3-Month Zinc		(1	)		03/04/2020			(56,074	)			(55,136	)			938			—
3-Month Zinc		(1	)		03/06/2020			(56,201	)			(55,134	)			1,067			—
3-Month Zinc		(1	)		03/09/2020			(55,762	)			(55,133	)			629			—
3-Month Zinc		(1	)		03/10/2020			(55,597	)			(55,132	)			465			—
3-Month Zinc		(1	)		03/11/2020			(55,946	)			(55,131	)			815			—
3-Month Zinc		(1	)		03/20/2020			(58,072	)			(55,096	)			2,976			—
3-Month Zinc		(1	)		03/23/2020			(57,685	)			(55,093	)			2,592			—
3-Month Zinc		(1	)		03/31/2020			(57,223	)			(55,071	)			2,152			—
3-Month Zinc		(6	)		04/06/2020			(348,976	)			(330,336	)			18,640			—

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS (continued):

Short Futures Contracts (continued)

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
10-Year Japan Government Bond		(6	)		03/13/2020		$	(8,425,830	)		$	(8,464,399	)		$	—		$	(38,569	)
Aluminum		(1	)		03/05/2020			(43,756	)			(42,688	)			1,068			—
Aluminum		(5	)		03/16/2020			(219,653	)			(213,875	)			5,778			—
Copper		(1	)		03/16/2020			(143,034	)			(139,006	)			4,028			—
Lean Hogs Futures		(24	)		04/15/2020			(704,492	)			(591,360	)			113,132			—
Low Sulfur Gasoil		(79	)		03/12/2020			(4,097,689	)			(3,969,750	)			127,939			—
Natural Gas		(115	)		02/26/2020			(2,478,046	)			(2,117,150	)			360,896			—
New York Harbor ULSD		(3	)		02/28/2020			(207,666	)			(205,178	)			2,488			—
Soybean		(71	)		03/13/2020			(3,244,578	)			(3,097,375	)			147,203			—
Soybean Meal		(14	)		03/13/2020			(420,407	)			(407,400	)			13,007			—
Zinc		(9	)		03/16/2020			(504,504	)			(496,125	)			8,379			—
Total															$	849,858		$	(46,162	)
Total Futures Contracts															$	2,401,431		$	(2,096,930	)

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
CITI		03/18/2020	USD	54,534,276	AUD	79,790,000	$	1,075,299	$	—
CITI		03/18/2020	USD	9,079,527	BRL	38,284,000		163,045		—
CITI		03/18/2020	USD	7,403,991	CAD	9,809,000		7,252		(14,962	)
CITI		03/18/2020	USD	16,246,196	CHF	15,824,000		—		(238,374	)
CITI		03/18/2020	USD	990,144	CLP	774,826,008		22,651		(65	)
CITI		03/18/2020	USD	1,063,444	COP	3,697,007,032		1,334		(15,702	)
CITI		03/18/2020	USD	119,286,587	EUR	107,113,631		245,864		(109,739	)
CITI		03/18/2020	USD	8,066,570	GBP	6,156,000		8,785		(81,810	)
CITI		03/18/2020	USD	15,706,991	HUF	4,733,286,000		137,227		(18,947	)
CITI		03/18/2020	USD	1,532,123	IDR	21,511,879,000		560		(37,100	)
CITI		03/18/2020	USD	1,715,467	ILS	5,940,000		—		(9,547	)
CITI		03/18/2020	USD	2,037,908	INR	146,673,000		1,806		(8,619	)
CITI		03/18/2020	USD	19,326,649	JPY	2,107,013,813		2,558		(172,679	)
CITI		03/18/2020	USD	23,634,284	KRW	27,885,029,831		216,354		(305	)
CITI		03/18/2020	USD	3,152,749	MXN	61,320,000		584		(69,961	)
CITI		03/18/2020	USD	18,266,023	NOK	167,454,000		63,297		(6,406	)
CITI		03/18/2020	USD	22,365,381	NZD	34,480,000		171,069		(107,483	)
CITI		03/18/2020	USD	1,683,534	PHP	85,837,000		1,226		(3,516	)
CITI		03/18/2020	USD	2,548,623	PLN	9,873,000		8,737		(8,944	)
CITI		03/18/2020	USD	11,867,500	SEK	113,519,000		57,196		(8,734	)
CITI		03/18/2020	USD	4,019,985	SGD	5,452,000		24,166		(1	)
CITI		03/18/2020	USD	1,909,631	TWD	57,691,000		184		(3,545	)
CITI		03/18/2020	ZAR	170,161,000	USD	11,543,027		—		(278,033	)
CITI		03/18/2020	AUD	43,028,000	USD	29,786,029		—		(957,442	)
CITI		03/18/2020	KRW	20,175,115,000	USD	17,372,160		—		(428,819	)
CITI		03/18/2020	JPY	1,748,447,000	USD	16,086,328		96,129		(3,603	)
CITI		03/18/2020	NOK	139,587,000	USD	15,589,569		—		(410,721	)
CITI		03/18/2020	EUR	56,515,000	USD	63,063,492		66,979		(264,632	)
CITI		03/18/2020	COP	2,799,332,000	USD	833,823		233		(17,948	)
CITI		03/18/2020	CHF	31,598,000	USD	32,372,793		544,713		(456	)
CITI		03/18/2020	SGD	7,301,000	USD	5,382,590		261		(31,884	)
CITI		03/18/2020	PLN	36,434,000	USD	9,427,080		21,320		(42,532	)
CITI		03/18/2020	TWD	71,721,000	USD	2,381,520		4,497		(7,804	)
CITI		03/18/2020	CAD	29,342,998	USD	22,297,940		27,055		(153,367	)
CITI		03/18/2020	PHP	138,515,000	USD	2,714,181		6,747		(520	)
CITI		03/18/2020	ILS	8,950,001	USD	2,595,870		4,430		(1,164	)
CITI		03/18/2020	IDR	75,656,634,008	USD	5,334,214		183,542		(810	)
CITI		03/18/2020	GBP	20,401,000	USD	26,635,334		340,721		(1,413	)
CITI		03/18/2020	INR	287,919,000	USD	4,007,069		17,139		(10,422	)
CITI		03/18/2020	MXN	242,288,000	USD	12,426,957		325,490		(21,164	)
CITI		03/18/2020	NZD	57,122,000	USD	37,143,410		94,521		(291,203	)
CITI		03/18/2020	CLP	412,664,000	USD	521,445		1,754		(7,891	)
CITI		03/18/2020	SEK	63,319,000	USD	6,658,566		1,366		(67,468	)
CITI		03/18/2020	HUF	1,898,351,000	USD	6,424,778		—		(172,706	)
CITI		03/18/2020	BRL	16,107,000	USD	3,936,345		—		(184,966	)
CITI		03/18/2020	USD	4,915,308	ZAR	71,790,000		162,668		—
Total							$	4,108,759	$	(4,273,407	)

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Short-Term U.S. Government Obligations	$	—		$	92,549,603		$	—	$	92,549,603
Short-Term Investment Companies		12,398,103			—			—		12,398,103
Total Investments	$	12,398,103		$	92,549,603		$	—	$	104,947,706
Other Financial Instruments
Over-the-Counter Total Return Swap Agreements	$	—		$	988,152		$	—	$	988,152
Futures Contracts (D)		2,401,431			—			—		2,401,431
Forward Foreign Currency Contracts (D)		—			4,108,759			—		4,108,759
Total Other Financial Instruments	$	2,401,431		$	5,096,911		$	—	$	7,498,342
LIABILITIES
Other Financial Instruments
Over-the-Counter Total Return Swap Agreements	$	—		$	(663,849	)	$	—	$	(663,849	)
Futures Contracts (D)		(2,096,930	)		—			—		(2,096,930	)
Forward Foreign Currency Contracts (D)		—			(4,273,407	)		—		(4,273,407	)
Total Other Financial Instruments	$	(2,096,930	)	$	(4,937,256	)	$	—	$	(7,034,186	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Rates disclosed reflect the yields at January 31, 2020.
(B)	At the termination date, a net cash flow is exchanged where the total return is equivalent to the return of the reference entity less a financing rate, if any. As a receiver, the Fund would receive payments based on any positive total return and would owe payments in the event of a negative total return. As the payer, the Fund would owe payments on any net positive total return and would receive payment in the event of a negative total return.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(D)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CLP	Chilean Peso
COP	Columbian Peso
EUR	Euro
GBP	Pound Sterling
HKD	Hong Kong Dollar
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israel New Shekel
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
NZD	New Zealand Dollar
PHP	Philippine Peso
PLN	Polish Zloty
SEK	Swedish Krona
SGD	Singapore Dollar
TWD	Taiwan New Dollar
USD	United States Dollar
ZAR	South African Rand

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Managed Futures Strategy

CONSOLIDATED SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

COUNTERPARTY ABBREVIATIONS:

BOA	Bank of America, N.A.
CITI	Citibank, N.A.
GSI	Goldman Sachs International
MLI	Merrill Lynch International

PORTFOLIO ABBREVIATIONS:

ASX	Australian Securities Exchange
BM&F Bovespa	Bolsa de Valores, Mercadorias & Futuros de Sao Paulo (Brazilian Stock Exchange Index)
BOBL	Bundesobligationen (German Federal Government Securities)
BTP	Buoni del Tesoro Poliennali (Italian Treasury Bonds)
CAC	Cotation Assistée en Continu (French Stock Market Index)
DAX	Deutscher Aktienindex (Frankfurt Stock Index)
DJIA	Dow Jones Industrial Average
EAFE	Europe, Australasia and Far East
EURIBOR	Euro Interbank Offer Rate
FTSE	Financial Times Stock Exchange
HG	High Grade
HSCEI	Hang Seng China Enterprises Index
IBEX	Índice Bursatil Español (Bolsa de Madrid Stock Market Index)
JSE	Johannesburg Stock Exchange
KOSPI	Korean Composite Stock Price Index
MIB	Milano Italia Borsa (FTSE MIB is the primary benchmark index for the Italian equity markets)
NASDAQ	National Association of Securities Dealers Automated Quotations
OAT	Obligations Assimilables du Tresor (Treasury Obligations)
OMX	Norwegian Stockholm Stock Exchange
RBOB	Reformulated Blendstock for Oxygenate Blending
Schatz	Bundesschatzanweisungen (German Federal Government 2-Year Securities)
STOXX	Deutsche Börse Group & SIX Group Index
TAIEX	Taiwan Capitalization Weighted Stock Index
TOPIX	Tokyo Price Index
TSX	Toronto Stock Exchange
ULSD	Ultra-Low Sulfur Diesel
WTI	West Texas Intermediate

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Mid Cap Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.0%
Aerospace & Defense - 8.3%
BWX Technologies, Inc.		168,079		$  10,688,143
Hexcel Corp.		130,267		9,668,417
				20,356,560
Banks - 1.9%
First Republic Bank		42,327		4,693,218
Biotechnology - 5.1%
Bluebird Bio, Inc. (A) (B)		31,255		2,490,711
Incyte Corp. (A)		72,999		5,334,037
Seattle Genetics, Inc. (A)		42,889		4,648,739
				12,473,487
Capital Markets - 0.4%
Hamilton Lane, Inc., Class A		14,980		972,951
Diversified Consumer Services - 5.6%
Bright Horizons Family Solutions, Inc. (A)		83,165		13,616,605
Electronic Equipment, Instruments & Components - 1.6%
CDW Corp.		30,768		4,013,686
Entertainment - 3.2%
Take-Two Interactive Software, Inc. (A)		62,980		7,849,827
Equity Real Estate Investment Trusts - 3.8%
SBA Communications Corp.		37,422		9,339,034
Health Care Equipment & Supplies - 6.3%
ABIOMED, Inc. (A)		42,420		7,902,422
Penumbra, Inc. (A) (B)		42,580		7,471,087
				15,373,509
Health Care Providers & Services - 2.6%
Centene Corp. (A)		100,645		6,321,512
Hotels, Restaurants & Leisure - 10.1%
Aramark		286,098		12,628,366
Domino’s Pizza, Inc.		18,388		5,180,819
Vail Resorts, Inc.		29,646		6,952,283
				24,761,468
Internet & Direct Marketing Retail - 2.5%
Expedia Group, Inc.		56,831		6,163,322
IT Services - 6.2%
Gartner, Inc. (A)		69,848		11,230,162
Global Payments, Inc.		19,974		3,903,918
				15,134,080
Life Sciences Tools & Services - 3.0%
Mettler-Toledo International, Inc. (A)		9,507		7,198,510
Professional Services - 6.5%
IHS Markit, Ltd. (A)		145,882		11,504,254
TransUnion		48,678		4,463,773
				15,968,027
Road & Rail - 2.1%
JB Hunt Transport Services, Inc.		47,090		5,082,424

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment - 5.1%
KLA Corp.		38,256		$   6,340,549
Monolithic Power Systems, Inc.		36,263		6,207,138
				12,547,687
Software - 16.0%
Ceridian HCM Holding, Inc. (A)		83,017		6,084,316
DocuSign, Inc. (A)		80,565		6,325,158
Guidewire Software, Inc. (A)		59,721		6,718,612
SS&C Technologies Holdings, Inc.		185,609		11,695,223
Tyler Technologies, Inc. (A)		25,735		8,329,905
				39,153,214
Specialty Retail - 3.9%
Burlington Stores, Inc. (A)		43,963		9,560,634
Textiles, Apparel & Luxury Goods - 2.8%
Under Armour, Inc., Class A (A) (B)		342,988		6,921,498
Total Common Stocks (Cost $211,283,064)				237,501,253
OTHER INVESTMENT COMPANY - 6.2%
Securities Lending Collateral - 6.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		15,116,003		15,116,003
Total Other Investment Company (Cost $15,116,003)				15,116,003
	Principal		Value
REPURCHASE AGREEMENT - 3.2%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $7,845,978 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $8,004,904.		$  7,845,422		7,845,422
Total Repurchase Agreement (Cost $7,845,422)				7,845,422
Total Investments (Cost $234,244,489)				260,462,678
Net Other Assets (Liabilities) - (6.4)%				(15,762,669	)
Net Assets - 100.0%				$  244,700,009

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Mid Cap Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	237,501,253	$	—	$	—	$	237,501,253
Other Investment Company		15,116,003		—		—		15,116,003
Repurchase Agreement		—		7,845,422		—		7,845,422
Total Investments	$	252,617,256	$	7,845,422	$	—	$	260,462,678

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $14,761,390. 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.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 99.3%
Auto Components - 0.7%
BorgWarner, Inc.		25,508		$  874,669
Banks - 8.7%
Citizens Financial Group, Inc.		38,961		1,452,466
Fifth Third Bancorp		68,280		1,942,566
First Republic Bank		10,269		1,138,627
Huntington Bancshares, Inc.		76,387		1,036,572
M&T Bank Corp.		15,740		2,652,505
Regions Financial Corp.		44,219		688,490
TCF Financial Corp.		10,862		459,245
Truist Financial Corp.		37,015		1,908,863
Zions Bancorp NA		11,355		516,539
				11,795,873
Beverages - 1.3%
Constellation Brands, Inc., Class A		6,188		1,165,200
Keurig Dr. Pepper, Inc. (A)		21,250		606,263
				1,771,463
Building Products - 0.9%
Fortune Brands Home & Security, Inc.		17,261		1,186,003
Capital Markets - 5.4%
Ameriprise Financial, Inc.		10,429		1,725,061
Northern Trust Corp.		15,366		1,502,948
Raymond James Financial, Inc.		17,199		1,572,505
T. Rowe Price Group, Inc.		18,233		2,434,652
				7,235,166
Chemicals - 1.1%
Sherwin-Williams Co.		2,658		1,480,479
Communications Equipment - 0.3%
CommScope Holding Co., Inc. (B)		34,177		416,447
Construction Materials - 1.0%
Martin Marietta Materials, Inc.		5,113		1,348,809
Consumer Finance - 0.2%
Ally Financial, Inc.		6,749		216,170
Containers & Packaging - 2.7%
Ball Corp.		16,449		1,187,289
Silgan Holdings, Inc.		46,391		1,431,626
WestRock Co.		26,390		1,029,210
				3,648,125
Distributors - 0.6%
Genuine Parts Co.		8,677		811,907
Electric Utilities - 4.7%
Edison International		21,957		1,680,808
Entergy Corp.		12,443		1,636,503
Xcel Energy, Inc.		44,034		3,046,713
				6,364,024
Electrical Equipment - 2.6%
Acuity Brands, Inc.		10,392		1,224,905
AMETEK, Inc.		14,642		1,422,470
Hubbell, Inc.		6,156		881,724
				3,529,099

	Shares		Value
COMMON STOCKS (continued)
Electronic Equipment, Instruments & Components - 4.0%
Amphenol Corp., Class A		12,874		$   1,280,577
Arrow Electronics, Inc. (B)		12,721		966,033
CDW Corp.		9,155		1,194,270
Keysight Technologies, Inc. (B)		8,499		790,322
SYNNEX Corp.		8,660		1,193,001
				5,424,203
Equity Real Estate Investment Trusts - 13.1%
American Campus Communities, Inc.		16,553		759,286
American Homes 4 Rent, Class A		34,306		937,583
AvalonBay Communities, Inc.		9,071		1,965,595
Boston Properties, Inc.		13,446		1,927,484
Brixmor Property Group, Inc.		55,424		1,106,263
Essex Property Trust, Inc.		3,761		1,165,007
Federal Realty Investment Trust		11,094		1,386,972
JBG SMITH Properties		14,915		604,803
Kimco Realty Corp.		49,096		935,279
Outfront Media, Inc.		35,555		1,057,406
Rayonier, Inc.		34,269		1,041,092
Regency Centers Corp.		12,558		779,098
Ventas, Inc.		10,648		616,093
Vornado Realty Trust		20,880		1,373,278
Weyerhaeuser Co.		30,672		887,955
WP Carey, Inc.		12,852		1,081,110
				17,624,304
Food & Staples Retailing - 0.6%
Kroger Co.		32,444		871,446
Food Products - 0.9%
Post Holdings, Inc. (B)		11,505		1,203,078
Gas Utilities - 0.8%
National Fuel Gas Co.		25,240		1,090,116
Health Care Equipment & Supplies - 1.5%
Zimmer Biomet Holdings, Inc.		13,224		1,955,830
Health Care Providers & Services - 5.4%
AmerisourceBergen Corp.		16,251		1,390,436
Cigna Corp. (B)		5,898		1,134,657
Henry Schein, Inc. (B)		15,342		1,057,677
Humana, Inc.		2,049		688,956
Laboratory Corp. of America Holdings (B)		9,169		1,608,243
Universal Health Services, Inc., Class B		9,756		1,337,645
				7,217,614
Hotels, Restaurants & Leisure - 0.9%
Hilton Worldwide Holdings, Inc.		10,748		1,158,634
Household Durables - 1.7%
Mohawk Industries, Inc. (B)		10,096		1,329,441
Newell Brands, Inc.		50,362		983,570
				2,313,011
Household Products - 0.7%
Energizer Holdings, Inc. (A)		20,889		966,325
Industrial Conglomerates - 0.7%
Carlisle Cos., Inc.		6,038		943,317

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Insurance - 7.8%
Alleghany Corp. (B)		1,351		$   1,077,639
Hartford Financial Services Group, Inc.		30,730		1,821,674
Lincoln National Corp.		17,920		976,281
Loews Corp.		51,217		2,635,115
Marsh & McLennan Cos., Inc.		12,416		1,388,854
Principal Financial Group, Inc.		5,906		312,723
Progressive Corp.		15,170		1,224,067
Unum Group		6,714		179,197
WR Berkley Corp.		13,235		973,169
				10,588,719
Internet & Direct Marketing Retail - 1.1%
Expedia Group, Inc.		13,667		1,482,186
IT Services - 0.8%
Jack Henry & Associates, Inc.		7,377		1,103,157
Machinery - 4.4%
IDEX Corp.		7,684		1,259,023
ITT, Inc.		14,462		970,111
Lincoln Electric Holdings, Inc.		10,084		899,291
Middleby Corp. (B)		12,243		1,373,175
Snap-on, Inc.		8,760		1,398,359
				5,899,959
Media - 3.5%
Discovery, Inc., Class C (B)		21,799		605,358
DISH Network Corp., Class A (B)		25,313		930,506
Liberty Broadband Corp., Class C (B)		7,491		995,779
Liberty Media Corp. - Liberty SiriusXM, Class C (B)		33,536		1,643,935
ViacomCBS, Inc., Class B		16,203		553,008
				4,728,586
Multi-Utilities - 6.0%
CMS Energy Corp.		42,278		2,896,466
Sempra Energy		13,837		2,222,776
WEC Energy Group, Inc.		30,326		3,029,264
				8,148,506
Multiline Retail - 1.0%
Kohl’s Corp.		18,273		781,171
Nordstrom, Inc.		14,852		547,445
				1,328,616
Oil, Gas & Consumable Fuels - 4.7%
Cabot Oil & Gas Corp.		68,052		958,853
Diamondback Energy, Inc.		26,122		1,943,477
EQT Corp.		47,596		287,956
Equitrans Midstream Corp. (A)		35,581		344,068
PBF Energy, Inc., Class A		29,565		807,124
Williams Cos., Inc.		96,073		1,987,750
				6,329,228
Personal Products - 0.3%
Coty, Inc., Class A		37,798		387,808
Real Estate Management & Development - 1.8%
CBRE Group, Inc., Class A (B)		30,824		1,881,805
Cushman & Wakefield PLC (B)		26,397		507,351
				2,389,156

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment - 0.5%
Analog Devices, Inc.		6,058		$   664,866
Software - 0.9%
Synopsys, Inc. (B)		8,207		1,210,615
Specialty Retail - 4.1%
AutoZone, Inc. (B)		1,792		1,895,864
Best Buy Co., Inc.		17,829		1,509,938
Gap, Inc.		42,817		745,444
Tiffany & Co.		10,658		1,428,385
				5,579,631
Textiles, Apparel & Luxury Goods - 1.6%
PVH Corp.		10,599		923,915
Ralph Lauren Corp.		11,321		1,284,933
				2,208,848
Trading Companies & Distributors - 0.3%
MSC Industrial Direct Co., Inc., Class A		6,306		429,249
Total Common Stocks (Cost $76,610,700)				133,925,242
OTHER INVESTMENT COMPANY - 1.4%
Securities Lending Collateral - 1.4%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		1,944,712		1,944,712
Total Other Investment Company (Cost $1,944,712)				1,944,712
	Principal		Value
REPURCHASE AGREEMENT - 0.9%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $1,270,435 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $1,298,959.		$  1,270,345		1,270,345
Total Repurchase Agreement (Cost $1,270,345)				1,270,345
Total Investments (Cost $79,825,757)				137,140,299
Net Other Assets (Liabilities) - (1.6)%				(2,143,818	)
Net Assets - 100.0%				$  134,996,481

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	133,925,242	$	—	$	—	$	133,925,242
Other Investment Company		1,944,712		—		—		1,944,712
Repurchase Agreement		—		1,270,345		—		1,270,345
Total Investments	$	135,869,954	$	1,270,345	$	—	$	137,140,299

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 $1,897,468. 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)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Mid Cap Value Opportunities

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 94.5%
Airlines - 3.0%
Alaska Air Group, Inc.		336,316		$  21,722,650
JetBlue Airways Corp. (A)		999,400		19,818,102
				41,540,752
Banks - 2.2%
CIT Group, Inc.		361,560		16,526,908
Signature Bank		96,200		13,649,818
				30,176,726
Beverages - 1.7%
Molson Coors Beverage Co., Class B		437,584		24,320,919
Biotechnology - 1.2%
United Therapeutics Corp. (A)		178,500		17,434,095
Capital Markets - 1.7%
E*TRADE Financial Corp.		402,500		17,154,550
Franklin Resources, Inc.		279,800		7,078,940
				24,233,490
Chemicals - 3.1%
Corteva, Inc. (A)		720,300		20,831,076
Mosaic Co.		834,300		16,552,512
Westlake Chemical Corp.		96,000		5,875,200
				43,258,788
Consumer Finance - 0.7%
Ally Financial, Inc.		327,039		10,475,059
Distributors - 1.6%
LKQ Corp. (A)		704,500		23,026,583
Diversified Financial Services - 1.5%
Jefferies Financial Group, Inc.		959,400		20,761,416
Diversified Telecommunication Services - 1.1%
GCI Liberty, Inc., Class A (A)		211,100		15,448,298
Electric Utilities - 3.3%
FirstEnergy Corp.		485,800		24,673,782
PPL Corp.		574,750		20,800,202
				45,473,984
Energy Equipment & Services - 1.2%
Baker Hughes Co.		744,600		16,128,036
Equity Real Estate Investment Trusts - 5.3%
Colony Capital, Inc.		2,329,405		10,878,321
Gaming and Leisure Properties, Inc.		444,200		20,990,671
JBG SMITH Properties		598,770		24,280,124
VEREIT, Inc.		1,888,500		18,431,760
				74,580,876
Food & Staples Retailing - 2.0%
US Foods Holding Corp. (A)		699,400		28,094,898
Food Products - 5.0%
General Mills, Inc.		257,600		13,451,872
J.M. Smucker Co.		97,300		10,081,253

	Shares		Value
COMMON STOCKS (continued)
Food Products (continued)
Kraft Heinz Co.		365,400		$   10,669,680
Post Holdings, Inc. (A)		345,300		36,108,021
				70,310,826
Gas Utilities - 2.3%
UGI Corp.		761,300		31,662,467
Health Care Equipment & Supplies - 2.0%
Zimmer Biomet Holdings, Inc.		185,500		27,435,450
Health Care Providers & Services - 5.4%
AmerisourceBergen Corp.		268,856		23,003,320
Cardinal Health, Inc.		192,868		9,876,770
Centene Corp. (A)		217,200		13,642,332
Laboratory Corp. of America Holdings (A)		168,938		29,631,725
				76,154,147
Hotels, Restaurants & Leisure - 1.0%
Aramark		305,200		13,471,528
Insurance - 14.2%
Alleghany Corp. (A)		44,025		35,116,982
Allstate Corp.		206,300		24,454,802
Arch Capital Group, Ltd. (A)		704,300		31,101,888
Fidelity National Financial, Inc.		516,003		25,155,146
Loews Corp.		607,120		31,236,324
Markel Corp. (A)		22,800		26,743,716
Willis Towers Watson PLC		114,766		24,248,908
				198,057,766
Internet & Direct Marketing Retail - 2.6%
Expedia Group, Inc.		215,854		23,409,366
Qurate Retail, Inc., Series A (A)		1,553,600		13,252,208
				36,661,574
IT Services - 0.7%
Alliance Data Systems Corp.		102,200		10,505,138
Machinery - 1.4%
Trinity Industries, Inc.		943,302		19,177,330
Media - 9.4%
Discovery, Inc., Class C (A)		470,880		13,076,337
DISH Network Corp., Class A (A)		600,193		22,063,095
Fox Corp., Class A		570,300		21,146,724
Liberty Media Corp. - Liberty SiriusXM, Class C (A)		358,100		17,554,062
News Corp., Class A		1,883,255		25,649,933
ViacomCBS, Inc., Class B		937,445		31,994,998
				131,485,149
Mortgage Real Estate Investment Trusts - 2.8%
Annaly Capital Management, Inc.		3,966,145		38,709,575
Multi-Utilities - 2.9%
CenterPoint Energy, Inc.		1,518,100		40,199,288
Multiline Retail - 2.5%
Dollar Tree, Inc. (A)		400,100		34,836,707
Oil, Gas & Consumable Fuels - 2.9%
Antero Resources Corp. (A) (B)		2,903,700		5,371,845
EQT Corp.		1,179,900		7,138,395
Williams Cos., Inc.		1,347,200		27,873,568
				40,383,808

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Mid Cap Value Opportunities

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Personal Products - 0.4%
Coty, Inc., Class A		557,500		$   5,719,950
Pharmaceuticals - 0.8%
Perrigo Co. PLC		186,200		10,620,848
Semiconductors & Semiconductor Equipment - 0.7%
Qorvo, Inc. (A)		94,300		9,982,598
Software - 2.2%
CDK Global, Inc.		389,900		20,929,832
SS&C Technologies Holdings, Inc.		164,300		10,352,543
				31,282,375
Specialty Retail - 1.8%
Foot Locker, Inc.		386,900		14,690,593
L Brands, Inc.		452,400		10,477,584
				25,168,177
Technology Hardware, Storage & Peripherals - 1.0%
NCR Corp. (A)		431,600		14,553,552
Trading Companies & Distributors - 2.9%
AerCap Holdings NV (A)		370,500		20,974,005
HD Supply Holdings, Inc. (A)		472,700		19,257,798
				40,231,803
Total Common Stocks (Cost $1,180,693,947)				1,321,563,976

	Shares		Value
OTHER INVESTMENT COMPANY - 0.1%
Securities Lending Collateral - 0.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		1,118,684		$   1,118,684
Total Other Investment Company (Cost $1,118,684)				1,118,684
	Principal		Value
REPURCHASE AGREEMENT - 9.4%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $130,896,381 on 02/03/2020. Collateralized by U.S. Government Obligations, 1.38% - 2.63%, due 05/31/2021 - 06/15/2021, and with a total value of $133,507,972.		$  130,887,110		130,887,110
Total Repurchase Agreement (Cost $130,887,110)				130,887,110
Total Investments (Cost $1,312,699,741)				1,453,569,770
Net Other Assets (Liabilities) - (4.0)%				(56,061,336	)
Net Assets - 100.0%				$  1,397,508,434

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	1,321,563,976	$	—	$	—	$	1,321,563,976
Other Investment Company		1,118,684		—		—		1,118,684
Repurchase Agreement		—		130,887,110		—		130,887,110
Total Investments	$	1,322,682,660	$	130,887,110	$	—	$	1,453,569,770

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the security is on loan. The value of the security on loan is $1,034,783. The amount on loan indicated may not correspond with the security on loan identified because a security with pending sales are in the process of recall from the brokers.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica MLP & Energy Income

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 65.1%
Electric Utilities - 3.5%
NextEra Energy, Inc.		31,600		$  8,475,120
Independent Power & Renewable Electricity Producers - 5.9%
Atlantica Yield PLC		226,300		6,500,468
Clearway Energy, Inc., Class C		76,000		1,608,920
Innergex Renewable Energy, Inc. (A)		124,500		1,768,626
Northland Power, Inc. (A)		79,900		1,798,565
TerraForm Power, Inc.		81,200		1,468,908
TransAlta Renewables, Inc. (A)		77,400		967,939
				14,113,426
Multi-Utilities - 0.9%
Algonquin Power & Utilities Corp.		56,300		861,953
Algonquin Power & Utilities Corp.		80,300		1,229,317
				2,091,270
Oil, Gas & Consumable Fuels - 54.8%
Cheniere Energy, Inc. (B)		207,591		12,297,691
Enbridge, Inc. (A)		349,454		14,212,294
Equitrans Midstream Corp. (A)		159,000		1,537,530
Hess Midstream, LP, Class A (A)		112,000		2,667,840
Kinder Morgan, Inc.		701,900		14,648,653
ONEOK, Inc.		203,400		15,228,558
Pembina Pipeline Corp.		387,500		14,845,125
Phillips 66		101,000		9,228,370
Pinnacle Renewable Energy, Inc.		3,000		23,100
Plains GP Holdings, LP, Class A (B)		685,413		11,412,126
Targa Resources Corp.		140,135		5,114,928
TC Energy Corp.		297,325		16,299,356
Williams Cos., Inc.		708,900		14,667,141
				132,182,712
Total Common Stocks (Cost $143,279,409)				156,862,528
MASTER LIMITED PARTNERSHIPS - 31.7% (C)
Independent Power & Renewable Electricity Producers - 6.4%
Brookfield Renewable Partners, LP (B)		80,000		3,899,200
NextEra Energy Partners, LP		203,622		11,559,621
				15,458,821
Multi-Utilities - 1.4%
Brookfield Infrastructure Partners, LP		60,000		3,264,000
Oil, Gas & Consumable Fuels - 23.9%
BP Midstream Partners, LP		162,455		2,344,226
Crestwood Equity Partners, LP		27,100		784,816
Energy Transfer, LP		850,837		10,712,038
Enterprise Products Partners, LP		354,711		9,140,902
Enviva Partners, LP		13,782		525,232
Hoegh LNG Partners, LP		248,800		3,749,416
KNOT Offshore Partners, LP		119,302		2,275,089
Magellan Midstream Partners, LP		98,300		6,033,654
MPLX, LP		292,281		7,029,358
Phillips 66 Partners, LP		95,100		5,556,693
Shell Midstream Partners, LP		273,805		5,380,268

	Shares		Value
MASTER LIMITED PARTNERSHIPS (continued) (C)
Oil, Gas & Consumable Fuels (continued)
TC PipeLines, LP		30,200		$   1,205,584
Western Midstream Operating, LP		180,407		2,987,540
				57,724,816
Total Master Limited Partnerships (Cost $82,598,126)				76,447,637
OTHER INVESTMENT COMPANY - 2.2%
Securities Lending Collateral - 2.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (D)		5,322,063		5,322,063
Total Other Investment Company (Cost $5,322,063)				5,322,063
	Principal		Value
REPURCHASE AGREEMENT - 2.7%
Fixed Income Clearing Corp., 0.85% (D), dated 01/31/2020, to be repurchased at $6,634,204 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $6,770,267.		$  6,633,734		6,633,734
Total Repurchase Agreement (Cost $6,633,734)				6,633,734
Total Investments (Cost $237,833,332)				245,265,962
Net Other Assets (Liabilities) - (1.7)%				(4,021,986	)
Net Assets - 100.0%				$  241,243,976

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica MLP & Energy Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY 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	$	156,862,528	$	—	$	—	$	156,862,528
Master Limited Partnerships		76,447,637		—		—		76,447,637
Other Investment Company		5,322,063		—		—		5,322,063
Repurchase Agreement		—		6,633,734		—		6,633,734
Total Investments	$	238,632,228	$	6,633,734	$	—	$	245,265,962

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 $5,091,112. 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)	The Fund may directly invest up to, but not more than, 25% of its total assets in equity or debt securities of master limited partnerships and other entities that are treated as qualified publicly traded partnerships for federal income tax purposes. This limit does not apply to master limited partnerships, which are not treated as publicly traded partnerships for federal income tax purposes.
(D)	Rates disclosed reflect the yields at January 31, 2020.
(E)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 46.1%
Airlines - 1.2%
Delta Air Lines, Inc.		65,491		$  3,650,468
Banks - 4.4%
Bank of America Corp.		82,500		2,708,475
Citigroup, Inc.		45,000		3,348,450
JPMorgan Chase & Co.		35,000		4,632,600
Wells Fargo & Co.		60,000		2,816,400
				13,505,925
Beverages - 1.3%
Coca-Cola Co.		30,000		1,752,000
PepsiCo, Inc.		15,000		2,130,300
				3,882,300
Biotechnology - 2.5%
AbbVie, Inc.		50,000		4,051,000
Amgen, Inc.		16,000		3,456,800
				7,507,800
Chemicals - 1.7%
Dow, Inc. (A)		31,666		1,458,853
LyondellBasell Industries NV, Class A		50,000		3,893,000
				5,351,853
Communications Equipment - 1.4%
Cisco Systems, Inc.		90,000		4,137,300
Diversified Telecommunication Services - 1.6%
AT&T, Inc.		20,000		752,400
HKT Trust & HKT, Ltd.		689,540		1,029,297
Verizon Communications, Inc.		54,000		3,209,760
				4,991,457
Electric Utilities - 0.9%
Duke Energy Corp.		28,500		2,782,455
Energy Equipment & Services - 0.0% (B)
Bristow Group, Inc. (A) (C) (D) (E)		3,188		115,948
Equity Real Estate Investment Trusts - 3.0%
Healthpeak Properties, Inc.		87,500		3,149,125
Omega Healthcare Investors, Inc.		59,871		2,511,588
STORE Capital Corp.		50,008		1,962,814
Ventas, Inc.		25,000		1,446,500
				9,070,027
Food & Staples Retailing - 1.2%
Walmart, Inc.		32,500		3,720,925
Health Care Providers & Services - 1.2%
CVS Health Corp.		55,000		3,730,100
Hotels, Restaurants & Leisure - 1.2%
McDonald’s Corp.		16,500		3,530,505
Household Products - 0.8%
Procter & Gamble Co.		19,825		2,470,592

	Shares		Value
COMMON STOCKS (continued)
Insurance - 1.4%
Allstate Corp.		6,250		$   740,875
Fidelity National Financial, Inc.		72,500		3,534,375
				4,275,250
Interactive Media & Services - 2.3%
Alphabet, Inc., Class C (A)		5,000		7,171,150
Mortgage Real Estate Investment Trusts - 2.8%
AGNC Investment Corp.		50,000		929,500
Annaly Capital Management, Inc.		289,350		2,824,056
Blackstone Mortgage Trust, Inc., Class A (F)		54,925		2,098,135
Starwood Property Trust, Inc.		111,320		2,856,471
				8,708,162
Multi-Utilities - 0.8%
Dominion Energy, Inc.		30,000		2,572,500
Oil, Gas & Consumable Fuels - 1.8%
BP PLC, ADR		55,000		1,987,150
Royal Dutch Shell PLC, Class B, ADR (F)		45,000		2,397,600
Valero Energy Corp.		12,500		1,053,875
				5,438,625
Pharmaceuticals - 3.1%
Bristol-Myers Squibb Co.		47,500		2,990,125
Johnson & Johnson		14,000		2,084,180
Merck & Co., Inc.		50,000		4,272,000
				9,346,305
Semiconductors & Semiconductor Equipment - 1.7%
Broadcom, Inc.		15,000		4,577,400
Intel Corp.		10,000		639,300
				5,216,700
Software - 2.3%
Microsoft Corp.		40,750		6,936,873
Specialty Retail - 2.7%
Foot Locker, Inc.		70,050		2,659,798
Home Depot, Inc.		17,500		3,991,750
Lowe’s Cos., Inc.		12,500		1,453,000
				8,104,548
Technology Hardware, Storage & Peripherals - 3.3%
Apple, Inc.		32,500		10,059,075
Textiles, Apparel & Luxury Goods - 0.4%
Tapestry, Inc.		47,500		1,224,075
Tobacco - 1.1%
Philip Morris International, Inc.		40,000		3,308,000
Total Common Stocks (Cost $119,592,237)				140,808,918
PREFERRED STOCKS - 7.2%
Automobiles - 0.2%
Ford Motor Co.,
6.20%		20,000		531,600
Banks - 2.0%
BancorpSouth Bank,
Series A, 5.50% (F)		40,000		1,044,000

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
PREFERRED STOCKS (continued)
Banks (continued)
Bank of America Corp.
Series GG, 6.00%		20,000		$   555,000
Series KK, 5.38%		40,000		1,070,000
Citigroup, Inc.,
Series J, Fixed until 09/30/2023, 7.13% (F) (G)		12,000		348,720
KeyCorp,
Series F, 5.65%		17,451		469,432
Wells Fargo & Co.
Series Q, Fixed until 09/15/2023, 5.85%(G)		40,000		1,087,200
Series R, Fixed until 03/15/2024, 6.63%(G)		50,000		1,436,500
				6,010,852
Diversified Financial Services - 0.3%
Voya Financial, Inc.,
Series B, Fixed until 09/15/2029, 5.35% (F) (G)		30,000		838,500
Electric Utilities - 0.9%
Duke Energy Corp.,
Series A, 5.75%		63,500		1,793,875
NextEra Energy Capital Holdings, Inc.,
Series N, 5.65%		30,000		830,100
				2,623,975
Energy Equipment & Services - 0.0% (B)
Bristow Group, Inc.,
Series AI, 10.00% (C) (D) (E) (H)		284		10,329
Equity Real Estate Investment Trusts - 0.8%
Colony Capital, Inc.,
Series G, 7.50% (F)		8,250		206,332
Digital Realty Trust, Inc.,
Series C, 6.63% (F)		10,000		268,600
Monmouth Real Estate Investment Corp.,
Series C, 6.13%		50,000		1,258,000
Public Storage,
Series H, 5.60%		25,000		700,500
				2,433,432
Insurance - 1.3%
Aspen Insurance Holdings, Ltd.,
5.63%		20,000		526,800
Athene Holding, Ltd.,
Series A, Fixed until 06/30/2029, 6.35% (G)		35,000		1,001,000
Enstar Group, Ltd.,
Series E, 7.00%		60,000		1,666,200
Globe Life, Inc.,
6.13%		20,000		536,000
WR Berkley Corp.,
5.70% (F)		15,000		411,000
				4,141,000
Mortgage Real Estate Investment Trusts - 1.4%
AGNC Investment Corp.,
Series E, Fixed until 10/15/2024, 6.50% (G)		63,100		1,637,445
Annaly Capital Management, Inc.,
Series F, Fixed until 09/30/2022, 6.95% (F) (G)		62,000		1,620,060
Two Harbors Investment Corp.,
Series B, Fixed until 07/27/2027, 7.63% (G)		39,800		1,115,196
				4,372,701

	Shares		Value
PREFERRED STOCKS (continued)
Real Estate Management & Development - 0.3%
Brookfield Property Partners, LP,
Series A-1, 6.50%		39,500		$   1,050,700
Total Preferred Stocks (Cost $20,791,886)				22,013,089
MASTER LIMITED PARTNERSHIP - 0.4%
Capital Markets - 0.4%
AllianceBernstein Holding, LP		35,000		1,146,250
Total Master Limited Partnership (Cost $679,990)				1,146,250
	Principal		Value
CORPORATE DEBT SECURITIES - 43.0%
Aerospace & Defense - 0.9%
TransDigm, Inc.
6.25%, 03/15/2026 (I)		$  2,500,000		2,696,250
Air Freight & Logistics - 0.2%
XPO Logistics, Inc.
6.13%, 09/01/2023 (I)		500,000		516,875
Auto Components - 2.2%
American Axle & Manufacturing, Inc.
6.63%, 10/15/2022 (F)		1,518,000		1,536,975
Cooper Tire & Rubber Co.
7.63%, 03/15/2027		79,000		91,146
Dana, Inc.
5.38%, 11/15/2027		1,750,000		1,804,688
Panther BF Aggregator 2, LP / Panther Finance Co., Inc.
6.25%, 05/15/2026 (I)		1,750,000		1,877,053
8.50%, 05/15/2027 (I)		1,250,000		1,343,750
				6,653,612
Automobiles - 0.5%
Tesla, Inc.
5.30%, 08/15/2025 (F) (I)		1,500,000		1,515,030
Building Products - 0.4%
Builders FirstSource, Inc.
6.75%, 06/01/2027 (I)		1,000,000		1,095,200
Capital Markets - 2.1%
BCD Acquisition, Inc.
9.63%, 09/15/2023 (I)		1,565,000		1,625,644
Compass Group Diversified Holdings LLC
8.00%, 05/01/2026 (I)		2,000,000		2,177,500
FS KKR Capital Corp.
4.63%, 07/15/2024		1,000,000		1,050,447
MSCI, Inc.
5.75%, 08/15/2025 (I)		1,500,000		1,565,175
				6,418,766
Chemicals - 1.4%
Blue Cube Spinco LLC
9.75%, 10/15/2023		1,250,000		1,332,837
Chemours Co.
7.00%, 05/15/2025 (F)		1,000,000		957,000

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chemicals (continued)
Methanex Corp.
5.25%, 12/15/2029		$   1,500,000		$   1,590,610
Univar Solutions USA, Inc.
5.13%, 12/01/2027 (I)		500,000		518,750
				4,399,197
Commercial Services & Supplies - 1.2%
Amsted Industries, Inc.
4.63%, 05/15/2030 (I)		500,000		506,250
Cimpress PLC
7.00%, 06/15/2026 (I)		1,500,000		1,585,207
FXI Holdings, Inc.
7.88%, 11/01/2024 (I)		750,000		710,625
Stena International SA
6.13%, 02/01/2025 (I)		300,000		307,875
Waste Pro USA, Inc.
5.50%, 02/15/2026 (I)		500,000		513,678
				3,623,635
Communications Equipment - 0.5%
CommScope Technologies LLC
6.00%, 06/15/2025 (I)		1,000,000		957,500
CommScope, Inc.
8.25%, 03/01/2027 (F) (I)		500,000		513,750
				1,471,250
Construction & Engineering - 0.6%
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp.
6.25%, 09/15/2027 (I)		1,300,000		1,391,000
New Enterprise Stone & Lime Co., Inc.
6.25%, 03/15/2026 (I)		200,000		209,000
Tutor Perini Corp.
6.88%, 05/01/2025 (F) (I)		250,000		235,000
				1,835,000
Construction Materials - 1.3%
Cemex SAB de CV
5.45%, 11/19/2029 (I)		1,500,000		1,599,750
Norbord, Inc.
5.75%, 07/15/2027 (I)		2,000,000		2,100,000
US Concrete, Inc.
6.38%, 06/01/2024		305,000		315,675
				4,015,425
Consumer Finance - 0.6%
Altice Financing SA
7.50%, 05/15/2026 (I)		1,050,000		1,122,135
Credit Acceptance Corp.
5.13%, 12/31/2024 (I)		500,000		522,500
6.63%, 03/15/2026 (I)		250,000		269,375
				1,914,010
Containers & Packaging - 0.4%
Cascades, Inc. / Cascades USA, Inc.
5.13%, 01/15/2026 (I)		1,100,000		1,135,750
5.38%, 01/15/2028 (I)		100,000		103,470
				1,239,220
Distributors - 0.2%
American Builders & Contractors Supply Co., Inc.
5.88%, 05/15/2026 (I)		456,000		479,940

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Consumer Services - 0.5%
Carriage Services, Inc.
6.63%, 06/01/2026 (I)		$   1,405,000		$   1,496,325
Diversified Financial Services - 1.8%
Cornerstone Chemical Co.
6.75%, 08/15/2024 (I)		1,000,000		962,210
Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
6.25%, 02/01/2022		1,500,000		1,526,250
ILFC E-Capital Trust I
1.55% + Max of 3-Month LIBOR, 10-Year CMT, or 30-Year CMT, 3.90% (G), 12/21/2065 (I)		900,000		715,500
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.25%, 02/01/2027 (I)		500,000		499,005
Quicken Loans, Inc.
5.25%, 01/15/2028 (I)		1,250,000		1,293,750
5.75%, 05/01/2025 (I)		550,000		569,250
				5,565,965
Diversified Telecommunication Services - 0.3%
Sable International Finance, Ltd.
5.75%, 09/07/2027 (I)		750,000		792,188
Electric Utilities - 1.1%
Drax Finco PLC
6.63%, 11/01/2025 (I)		2,720,000		2,877,706
Vistra Operations Co. LLC
5.50%, 09/01/2026 (I)		500,000		520,000
				3,397,706
Electronic Equipment, Instruments & Components - 0.1%
MTS Systems Corp.
5.75%, 08/15/2027 (I)		300,000		315,000
Energy Equipment & Services - 3.2%
Archrock Partners, LP / Archrock Partners Finance Corp.
6.25%, 04/01/2028 (I)		1,500,000		1,543,125
Enviva Partners, LP / Enviva Partners Finance Corp.
6.50%, 01/15/2026 (I)		3,800,000		4,053,726
Transocean Poseidon, Ltd.
6.88%, 02/01/2027 (I)		1,250,000		1,306,250
Transocean Sentry, Ltd.
5.38%, 05/15/2023 (I)		750,000		751,875
Transocean, Inc.
8.00%, 02/01/2027 (I)		1,000,000		930,800
USA Compression Partners, LP / USA Compression Finance Corp.
6.88%, 04/01/2026		1,000,000		1,040,000
				9,625,776
Entertainment - 0.3%
Netflix, Inc.
5.88%, 02/15/2025		760,000		852,150
Equity Real Estate Investment Trusts - 1.3%
ESH Hospitality, Inc.
5.25%, 05/01/2025 (I)		1,800,000		1,845,000

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
GEO Group, Inc.
5.13%, 04/01/2023		$   1,500,000		$   1,413,750
5.88%, 01/15/2022		650,000		641,875
				3,900,625
Food Products - 1.1%
B&G Foods, Inc.
5.25%, 04/01/2025		2,350,000		2,399,068
Pilgrim’s Pride Corp.
5.75%, 03/15/2025 (I)		1,000,000		1,027,500
				3,426,568
Health Care Providers & Services - 0.4%
Encompass Health Corp.
4.50%, 02/01/2028		1,300,000		1,339,052
Hotels, Restaurants & Leisure - 2.8%
Marriott Ownership Resorts, Inc.
4.75%, 01/15/2028 (I)		1,200,000		1,227,000
Scientific Games International, Inc.
7.00%, 05/15/2028 (I)		2,350,000		2,479,931
8.25%, 03/15/2026 (I)		1,000,000		1,085,000
VOC Escrow, Ltd.
5.00%, 02/15/2028 (I)		1,466,000		1,517,310
Wyndham Destinations, Inc.
5.75%, 04/01/2027		1,450,000		1,582,313
6.35%, 10/01/2025		650,000		728,406
				8,619,960
Household Products - 0.6%
Central Garden & Pet Co.
6.13%, 11/15/2023		1,700,000		1,750,852
Industrial Conglomerates - 0.7%
General Electric Co.
Fixed until 01/21/2021 (J), 5.00% (G)		2,000,000		1,990,520
IT Services - 0.7%
Leidos, Inc.
7.13%, 07/01/2032		1,800,000		2,196,000
Leisure Products - 0.5%
Mattel, Inc.
5.88%, 12/15/2027 (I)		1,500,000		1,576,725
Machinery - 1.6%
JB Poindexter & Co., Inc.
7.13%, 04/15/2026 (I)		250,000		268,750
Meritor, Inc.
6.25%, 02/15/2024		1,440,000		1,476,000
Mueller Industries, Inc.
6.00%, 03/01/2027		1,400,000		1,428,000
Terex Corp.
5.63%, 02/01/2025 (I)		1,150,000		1,184,500
Wabash National Corp.
5.50%, 10/01/2025 (I)		500,000		495,000
				4,852,250
Marine - 0.1%
Tidewater, Inc.
8.00%, 08/01/2022		393,528		410,253
Media - 2.3%
CSC Holdings LLC
7.75%, 07/15/2025 (I)		1,000,000		1,053,770

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
Diamond Sports Group LLC / Diamond Sports Finance Co.
5.38%, 08/15/2026 (I)		$   1,250,000		$   1,245,128
6.63%, 08/15/2027 (F) (I)		1,500,000		1,402,500
Sirius XM Radio, Inc.
5.38%, 04/15/2025 (I)		1,250,000		1,289,187
TEGNA, Inc.
4.63%, 03/15/2028 (I)		1,000,000		1,005,000
5.00%, 09/15/2029 (I)		1,000,000		1,012,500
				7,008,085
Metals & Mining - 0.3%
U.S. Steel Corp.
6.88%, 08/15/2025 (F)		1,000,000		899,690
Multiline Retail - 0.7%
Dillard’s, Inc.
7.00%, 12/01/2028		230,000		265,675
7.75%, 07/15/2026		1,150,000		1,333,488
7.88%, 01/01/2023		350,000		380,469
				1,979,632
Oil, Gas & Consumable Fuels - 3.4%
Andeavor Logistics, LP / Tesoro Logistics Finance Corp.
6.25%, 10/15/2022		1,559,000		1,588,731
6.38%, 05/01/2024		450,000		471,768
Hess Midstream Operations, LP
5.13%, 06/15/2028 (I)		2,000,000		2,064,460
Holly Energy Partners, LP / Holly Energy Finance Corp.
5.00%, 02/01/2028 (I) (K)		1,000,000		1,015,940
6.00%, 08/01/2024 (I)		300,000		313,560
HollyFrontier Corp.
5.88%, 04/01/2026		1,000,000		1,137,732
NuStar Logistics, LP
6.00%, 06/01/2026		1,000,000		1,052,200
PBF Holding Co. LLC / PBF Finance Corp.
7.00%, 11/15/2023		1,750,000		1,813,175
Sunoco, LP / Sunoco Finance Corp.
6.00%, 04/15/2027		500,000		527,485
Valero Energy Corp.
8.75%, 06/15/2030		300,000		419,623
				10,404,674
Paper & Forest Products - 0.2%
Boise Cascade Co.
5.63%, 09/01/2024 (I)		150,000		155,625
Louisiana-Pacific Corp.
4.88%, 09/15/2024		500,000		515,625
				671,250
Pharmaceuticals - 0.3%
Bausch Health Cos., Inc.
5.00%, 01/30/2028 (I)		500,000		506,250
5.25%, 01/30/2030 (I)		500,000		509,375
				1,015,625
Professional Services - 0.1%
AMN Healthcare, Inc.
5.13%, 10/01/2024 (I)		380,000		391,875

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Real Estate Management & Development - 0.4%
Hunt Cos., Inc.
6.25%, 02/15/2026 (I)		$   347,000		$   335,846
Kennedy-Wilson, Inc.
5.88%, 04/01/2024		1,000,000		1,020,000
				1,355,846
Road & Rail - 0.6%
Fortress Transportation & Infrastructure Investors LLC
6.50%, 10/01/2025 (I)		350,000		371,585
6.75%, 03/15/2022 (I)		1,415,000		1,457,450
				1,829,035
Software - 0.9%
j2 Cloud Services LLC / j2 Cloud Co-Obligor, Inc.
6.00%, 07/15/2025 (I)		1,250,000		1,318,750
Open Text Corp.
5.63%, 01/15/2023 (I)		1,324,000		1,343,860
				2,662,610
Specialty Retail - 1.4%
Carvana Co.
8.88%, 10/01/2023 (I)		2,082,000		2,186,516
L Brands, Inc.
6.69%, 01/15/2027		1,000,000		1,035,000
Lithia Motors, Inc.
5.25%, 08/01/2025 (I)		1,000,000		1,032,500
				4,254,016
Technology Hardware, Storage & Peripherals - 0.3%
Dell International LLC / EMC Corp.
8.10%, 07/15/2036 (I)		750,000		1,036,968
Textiles, Apparel & Luxury Goods - 0.0% (B)
PVH Corp.
7.75%, 11/15/2023		100,000		116,500
Trading Companies & Distributors - 1.0%
Beacon Roofing Supply, Inc.
4.50%, 11/15/2026 (F) (I)		1,500,000		1,541,250
H&E Equipment Services, Inc.
5.63%, 09/01/2025		1,500,000		1,563,750
				3,105,000
Wireless Telecommunication Services - 1.5%
Altice France SA
7.38%, 05/01/2026 (I)		2,000,000		2,130,160
Sprint Corp.
7.25%, 09/15/2021		1,250,000		1,310,938
7.88%, 09/15/2023		1,000,000		1,062,390
				4,503,488
Total Corporate Debt Securities (Cost $128,376,267)				131,215,619

	Shares		Value
OTHER INVESTMENT COMPANY - 3.7%
Securities Lending Collateral - 3.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (L)		11,292,943		$  11,292,943
Total Other Investment Company (Cost $11,292,943)				11,292,943
	Principal		Value
REPURCHASE AGREEMENT - 2.2%
Fixed Income Clearing Corp., 0.85% (L), dated 01/31/2020, to be repurchased at $6,597,794 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $6,733,971.		$  6,597,327		6,597,327
Total Repurchase Agreement (Cost $6,597,327)				6,597,327
Total Investments (Cost $287,330,650)				313,074,146
Net Other Assets (Liabilities) - (2.6)%				(7,844,521	)
Net Assets - 100.0%				$  305,229,625

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Multi-Asset Income

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(M)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (N)		Value
ASSETS
Investments
Common Stocks	$	139,663,673	$	1,029,297	$	115,948	$	140,808,918
Preferred Stocks		22,002,760		—		10,329		22,013,089
Master Limited Partnership		1,146,250		—		—		1,146,250
Corporate Debt Securities		—		131,215,619		—		131,215,619
Other Investment Company		11,292,943		—		—		11,292,943
Repurchase Agreement		—		6,597,327		—		6,597,327
Total Investments	$	174,105,626	$	138,842,243	$	126,277	$	313,074,146

Transfers

Investments	Transfers from Level 1 to Level 3		Transfers from Level 3 to Level 1		Transfers from Level 2 to Level 3		Transfers from Level 3 to Level 2
Common Stocks (E)	$	—	$	—	$	115,948	$	—
Preferred Stocks (E)		—		—		10,329		—
Total	$	—	$	—	$	126,277	$	—

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $126,277, representing less than 0.1% of the Fund’s net assets.
(D)	Securities are Level 3 of the fair value hierarchy.
(E)	Transferred from Level 2 to 3 due to utilizing significant unobservable inputs. As of prior reporting period, the security utilized significant observable inputs.
(F)	All or a portion of the securities are on loan. The total value of all securities on loan is $11,057,345. 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.
(G)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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)	Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(I)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $85,247,513, representing 27.9% of the Fund’s net assets.
(J)	Perpetual maturity. The date displayed is the next call date.
(K)	When-issued, delayed-delivery and/or forward commitment (including TBAs) security. Security to be settled and delivered after January 31, 2020. Security may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(L)	Rates disclosed reflect the yields at January 31, 2020.
(M)	The Fund recognizes transfers in and out of Level 3 as of January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(N)	Level 3 securities were not considered significant to the Fund.

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 59.2%
Aerospace & Defense - 1.0%
General Dynamics Corp.		18,330		$  3,215,815
Northrop Grumman Corp.		6,260		2,344,808
United Technologies Corp.		30,880		4,638,176
				10,198,799
Airlines - 0.2%
Delta Air Lines, Inc.		22,490		1,253,593
Southwest Airlines Co.		16,400		901,672
United Airlines Holdings, Inc. (A)		5,480		409,904
				2,565,169
Auto Components - 0.1%
Magna International, Inc.		21,310		1,080,204
Automobiles - 0.2%
General Motors Co.		51,560		1,721,588
Banks - 2.4%
Bank of America Corp.		185,840		6,101,127
Citigroup, Inc.		112,770		8,391,216
Citizens Financial Group, Inc.		18,640		694,899
Fifth Third Bancorp		25,100		714,095
KeyCorp		162,940		3,048,607
Regions Financial Corp.		82,430		1,283,435
Truist Financial Corp.		11,012		567,889
Wells Fargo & Co.		86,700		4,069,698
				24,870,966
Beverages - 1.0%
Coca-Cola Co.		110,820		6,471,888
Constellation Brands, Inc., Class A		16,610		3,127,663
PepsiCo, Inc.		5,310		754,126
				10,353,677
Biotechnology - 1.4%
AbbVie, Inc.		69,200		5,606,584
Alexion Pharmaceuticals, Inc. (A)		16,790		1,668,758
Amgen, Inc.		2,660		574,693
Biogen, Inc. (A)		8,730		2,347,060
Regeneron Pharmaceuticals, Inc. (A)		4,490		1,517,351
Vertex Pharmaceuticals, Inc. (A)		12,220		2,774,551
				14,488,997
Building Products - 0.2%
Masco Corp.		37,850		1,798,632
Capital Markets - 1.9%
Ameriprise Financial, Inc.		7,700		1,273,657
BlackRock, Inc.		2,960		1,560,956
Charles Schwab Corp.		52,710		2,400,940
Goldman Sachs Group, Inc.		3,400		808,350
MarketAxess Holdings, Inc.		1,400		495,852
Morgan Stanley		104,050		5,437,653
S&P Global, Inc.		16,800		4,934,664
State Street Corp.		43,800		3,312,594
				20,224,666
Chemicals - 0.9%
Celanese Corp.		16,240		1,680,840

	Shares		Value
COMMON STOCKS (continued)
Chemicals (continued)
Dow, Inc. (A)		31,400		$   1,446,598
DuPont de Nemours, Inc.		24,886		1,273,665
Eastman Chemical Co.		33,780		2,407,501
Linde PLC		8,850		1,797,701
LyondellBasell Industries NV, Class A		11,900		926,534
				9,532,839
Commercial Services & Supplies - 0.1%
Cintas Corp.		1,540		429,614
Waste Management, Inc.		8,500		1,034,450
				1,464,064
Communications Equipment - 0.2%
Cisco Systems, Inc.		27,820		1,278,885
Motorola Solutions, Inc.		2,400		424,800
				1,703,685
Consumer Finance - 0.9%
American Express Co.		38,360		4,981,813
Capital One Financial Corp.		40,050		3,996,990
Synchrony Financial		10,400		337,064
				9,315,867
Containers & Packaging - 0.4%
Avery Dennison Corp.		10,400		1,364,896
Crown Holdings, Inc. (A)		21,130		1,564,254
Packaging Corp. of America		4,640		444,280
WestRock Co.		20,760		809,640
				4,183,070
Diversified Consumer Services - 0.0% (B)
H&R Block, Inc.		9,320		216,224
Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc., Class B (A)		49,480		11,104,796
Voya Financial, Inc.		6,100		364,353
				11,469,149
Diversified Telecommunication Services - 0.7%
AT&T, Inc.		5,600		210,672
Verizon Communications, Inc.		128,950		7,664,788
				7,875,460
Electric Utilities - 1.7%
Edison International		20,700		1,584,585
Entergy Corp.		34,700		4,563,744
FirstEnergy Corp.		13,200		670,428
NextEra Energy, Inc.		25,740		6,903,468
Southern Co.		36,700		2,583,680
Xcel Energy, Inc.		17,380		1,202,522
				17,508,427
Electrical Equipment - 0.9%
Eaton Corp. PLC		66,910		6,320,988
Emerson Electric Co.		40,600		2,908,178
				9,229,166
Entertainment - 0.7%
Electronic Arts, Inc. (A)		18,750		2,023,500
Netflix, Inc. (A)		13,130		4,531,032
Walt Disney Co.		2,450		338,859
				6,893,391

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Equity Real Estate Investment Trusts - 1.3%
AvalonBay Communities, Inc.		9,410		$   2,039,053
Equinix, Inc.		4,860		2,866,088
Equity Residential		31,580		2,623,666
Federal Realty Investment Trust		1,710		213,784
Mid-America Apartment Communities, Inc.		7,100		974,191
Prologis, Inc.		39,180		3,639,038
Ventas, Inc.		18,560		1,073,882
VICI Properties, Inc.		20,931		560,951
				13,990,653
Food & Staples Retailing - 0.3%
Costco Wholesale Corp.		5,300		1,619,256
Walmart, Inc.		14,600		1,671,554
				3,290,810
Food Products - 0.8%
Conagra Brands, Inc.		11,600		381,872
General Mills, Inc.		67,600		3,530,072
Mondelez International, Inc., Class A		85,970		4,932,959
				8,844,903
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.		37,200		3,318,984
Becton Dickinson and Co.		1,380		379,748
Boston Scientific Corp. (A)		39,160		1,639,629
Edwards Lifesciences Corp. (A)		4,800		1,055,328
Intuitive Surgical, Inc. (A)		2,000		1,119,560
Medtronic PLC		66,660		7,695,231
Zimmer Biomet Holdings, Inc.		32,050		4,740,195
				19,948,675
Health Care Providers & Services - 1.7%
Anthem, Inc.		13,680		3,629,031
Cigna Corp. (A)		14,010		2,695,244
DaVita, Inc. (A)		11,500		918,505
McKesson Corp.		14,940		2,130,593
UnitedHealth Group, Inc.		30,620		8,342,419
				17,715,792
Hotels, Restaurants & Leisure - 0.7%
Hilton Worldwide Holdings, Inc.		21,070		2,271,346
Royal Caribbean Cruises, Ltd.		4,760		557,301
Yum! Brands, Inc.		38,740		4,097,530
				6,926,177
Household Durables - 0.2%
Lennar Corp., Class A		35,460		2,353,126
Household Products - 0.7%
Kimberly-Clark Corp.		2,300		329,452
Procter & Gamble Co.		52,650		6,561,243
				6,890,695
Industrial Conglomerates - 0.5%
Honeywell International, Inc.		32,600		5,646,972
Insurance - 1.2%
Allstate Corp.		34,110		4,043,399
American International Group, Inc.		17,800		894,628
Arch Capital Group, Ltd. (A)		10,400		459,264
Arthur J. Gallagher & Co.		6,300		646,191

	Shares		Value
COMMON STOCKS (continued)
Insurance (continued)
Hartford Financial Services Group, Inc.		55,300		$   3,278,184
MetLife, Inc.		74,210		3,688,979
				13,010,645
Interactive Media & Services - 3.0%
Alphabet, Inc., Class A (A)		7,930		11,361,945
Alphabet, Inc., Class C (A)		7,270		10,426,852
Facebook, Inc., Class A (A)		51,470		10,392,308
				32,181,105
Internet & Direct Marketing Retail - 2.5%
Amazon.com, Inc. (A)		11,480		23,060,106
Booking Holdings, Inc. (A)		430		787,137
Expedia Group, Inc.		23,850		2,586,532
				26,433,775
IT Services - 3.8%
Accenture PLC, Class A		29,200		5,992,132
Automatic Data Processing, Inc.		33,914		5,812,520
Fiserv, Inc. (A)		19,102		2,265,688
Leidos Holdings, Inc.		19,700		1,979,259
Mastercard, Inc., Class A		40,910		12,925,105
PayPal Holdings, Inc. (A)		67,740		7,714,909
Visa, Inc., Class A		18,910		3,762,523
				40,452,136
Leisure Products - 0.1%
Hasbro, Inc.		7,200		733,464
Life Sciences Tools & Services - 0.7%
Illumina, Inc. (A)		3,500		1,015,245
Thermo Fisher Scientific, Inc.		19,670		6,160,447
				7,175,692
Machinery - 1.1%
Caterpillar, Inc.		6,200		814,370
Cummins, Inc.		16,780		2,684,297
Ingersoll-Rand PLC		18,440		2,456,761
Parker-Hannifin Corp.		15,400		3,013,626
Snap-on, Inc.		5,450		869,984
Stanley Black & Decker, Inc.		13,650		2,174,854
				12,013,892
Media - 1.8%
Altice USA, Inc., Class A (A)		36,540		999,734
Charter Communications, Inc., Class A (A)		12,740		6,592,440
Comcast Corp., Class A		188,310		8,133,109
Discovery, Inc., Class A (A) (C)		51,160		1,496,942
Discovery, Inc., Class C (A)		55,810		1,549,844
ViacomCBS, Inc., Class B		12,900		440,277
				19,212,346
Metals & Mining - 0.1%
Freeport-McMoRan, Inc.		30,050		333,555
Newmont Corp.		11,060		498,364
				831,919
Multi-Utilities - 0.5%
CMS Energy Corp.		48,500		3,322,735
Sempra Energy		9,020		1,448,973
				4,771,708

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Multiline Retail - 0.1%
Target Corp.		12,000		$   1,328,880
Oil, Gas & Consumable Fuels - 2.3%
Chevron Corp.		70,280		7,529,799
Diamondback Energy, Inc.		23,300		1,733,520
EOG Resources, Inc.		52,650		3,838,712
Exxon Mobil Corp.		18,650		1,158,538
Marathon Petroleum Corp.		58,470		3,186,615
ONEOK, Inc.		45,720		3,423,056
Phillips 66		2,960		270,455
Pioneer Natural Resources Co.		21,570		2,911,950
				24,052,645
Pharmaceuticals - 2.6%
Allergan PLC		6,790		1,267,286
Bristol-Myers Squibb Co.		99,510		6,264,155
Eli Lilly & Co.		33,582		4,689,390
Johnson & Johnson		41,090		6,117,068
Merck & Co., Inc.		85,120		7,272,653
Pfizer, Inc.		40,550		1,510,082
				27,120,634
Professional Services - 0.0% (B)
Verisk Analytics, Inc.		2,100		341,187
Road & Rail - 1.2%
CSX Corp.		24,600		1,877,964
Kansas City Southern		21,900		3,694,311
Lyft, Inc., Class A		8,300		394,084
Norfolk Southern Corp.		26,150		5,444,692
Union Pacific Corp.		8,820		1,582,484
				12,993,535
Semiconductors & Semiconductor Equipment - 2.6%
Advanced Micro Devices, Inc. (A)		86,700		4,074,900
Analog Devices, Inc.		46,640		5,118,740
Intel Corp.		17,050		1,090,007
Micron Technology, Inc. (A)		5,800		311,719
NVIDIA Corp.		20,500		4,846,815
NXP Semiconductors NV		23,500		2,981,210
Teradyne, Inc.		33,190		2,190,208
Texas Instruments, Inc.		59,950		7,232,967
				27,846,566
Software - 4.6%
Intuit, Inc.		17,300		4,850,574
Microsoft Corp.		216,290		36,819,047
salesforce.com, Inc. (A)		35,730		6,513,936
				48,183,557
Specialty Retail - 2.2%
AutoZone, Inc. (A)		3,540		3,745,178
Best Buy Co., Inc.		39,050		3,307,144
Home Depot, Inc.		25,510		5,818,831
Lowe’s Cos., Inc.		40,320		4,686,797
O’Reilly Automotive, Inc. (A)		3,260		1,323,886
Ross Stores, Inc.		16,880		1,893,767
TJX Cos., Inc.		47,040		2,777,242
				23,552,845

	Shares		Value
COMMON STOCKS (continued)
Technology Hardware, Storage & Peripherals - 3.3%
Apple, Inc.		108,140		$   33,470,412
HP, Inc.		77,160		1,645,051
				35,115,463
Textiles, Apparel & Luxury Goods - 0.5%
NIKE, Inc., Class B		47,900		4,612,770
Ralph Lauren Corp.		6,100		692,350
				5,305,120
Tobacco - 0.8%
Altria Group, Inc.		44,010		2,091,795
Philip Morris International, Inc.		72,090		5,961,843
				8,053,638
Wireless Telecommunication Services - 0.1%
T-Mobile US, Inc. (A)		9,530		754,681
Total Common Stocks (Cost $409,817,397)				623,767,276
PREFERRED STOCKS - 0.0% (B)
Banks - 0.0% (B)
Citigroup Capital XIII,
3-Month LIBOR + 6.37%, 8.14% (D)		12,963		365,297
Electric Utilities - 0.0% (B)
SCE Trust III,
Series H, Fixed until 03/15/2024, 5.75% (D)		960		23,904
Total Preferred Stocks (Cost $379,727)				389,201
	Principal		Value
ASSET-BACKED SECURITIES - 3.4%
321 Henderson Receivables VI LLC
Series 2010-1A, Class A,
5.56%, 07/15/2059 (E)		$  294,543		324,009
BlueMountain CLO, Ltd.
Series 2015-2A, Class A1R,
3-Month LIBOR + 0.93%, 2.75% (D), 07/18/2027 (E)		795,000		795,635
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A,
2.94%, 05/25/2029 (E)		340,384		342,918
BXG Receivables Note Trust
Series 2015-A, Class A,
2.88%, 05/02/2030 (E)		385,588		385,777
CIFC Funding, Ltd.
Series 2013-2A, Class A1LR,
3-Month LIBOR + 1.21%, 3.04% (D), 10/18/2030 (E)		1,975,000		1,975,685
Diamond Resorts Owner Trust
Series 2019-1A, Class A,
2.89%, 02/20/2032 (E)		338,742		343,510
ICG CLO, Ltd.
Series 2014-1A, Class A1R,
3-Month LIBOR + 1.22%, 3.04% (D), 01/20/2030 (E)		670,000		670,159

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
JG Wentworth XXII LLC
Series 2010-3A, Class A,
3.82%, 12/15/2048 (E)		$   551,707		$   572,908
JGWPT XXVIII LLC
Series 2013-1A, Class A,
3.22%, 04/15/2067 (E)		876,852		918,006
Laurel Road Prime Student Loan Trust
Series 2018-B, Class A2FX,
3.54%, 05/26/2043 (E)		547,739		566,945
Longfellow Place CLO, Ltd.
Series 2013-1A, Class ARR,
3-Month LIBOR + 1.34%, 3.17% (D), 04/15/2029 (E)		1,175,000		1,175,671
Mill City Mortgage Loan Trust
Series 2016-1, Class A1,
2.50% (D), 04/25/2057 (E)		172,738		173,193
MVW Owner Trust
Series 2014-1A, Class A,
2.25%, 09/22/2031 (E)		113,139		113,156
Series 2016-1A, Class A,
2.25%, 12/20/2033 (E)		112,750		112,660
Series 2019-1A, Class A,
2.89%, 11/20/2036 (E)		338,665		347,640
New Residential Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.52%, 08/15/2053 (E)		1,800,000		1,807,527
Series 2019-T3, Class AT3,
2.51%, 09/15/2052 (E)		900,000		906,687
Series 2019-T4, Class AT4,
2.33%, 10/15/2051 (E)		100,000		100,292
Octagon Investment Partners 33, Ltd.
Series 2017-1A, Class A1,
3-Month LIBOR + 1.19%, 3.01% (D), 01/20/2031 (E)		800,000		799,649
Ocwen Master Advance Receivables Trust
Series 2019-T1, Class AT1,
2.51%, 08/15/2050 (E)		2,150,000		2,160,373
Series 2019-T2, Class AT2,
2.42%, 08/15/2051 (E)		2,150,000		2,172,896
Orange Lake Timeshare Trust
Series 2016-A, Class A,
2.61%, 03/08/2029 (E)		757,203		764,183
Series 2018-A, Class A,
3.10%, 11/08/2030 (E)		110,503		112,508
Series 2018-A, Class B,
3.35%, 11/08/2030 (E)		90,410		91,810
Series 2019-A, Class A,
3.06%, 04/09/2038 (E)		639,849		652,627
Palmer Square CLO, Ltd.
Series 2015-2A, Class A1AR,
3-Month LIBOR + 1.27%, 3.10% (D), 07/20/2030 (E)		800,000		800,933
Series 2015-2A, Class A1R2,
3-Month LIBOR + 1.10%, Zero Coupon (D), 07/20/2030 (E) (F)		2,000,000		2,000,000
Sierra Timeshare Receivables Funding LLC
Series 2016-2A, Class A,
2.33%, 07/20/2033 (E)		159,136		159,512
SolarCity LMC LLC
Series 2014-2, Class A,
4.02%, 07/20/2044 (E)		379,833		384,871
SPS Servicer Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.32%, 10/15/2052 (E)		1,040,000		1,047,518

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Towd Point Mortgage Trust
Series 2015-3, Class A1B,
3.00% (D), 03/25/2054 (E)		$   298,320		$   299,385
Series 2015-4, Class A1B,
2.75% (D), 04/25/2055 (E)		375,318		375,636
Series 2015-5, Class A1B,
2.75% (D), 05/25/2055 (E)		314,881		315,476
Series 2015-6, Class A1B,
2.75% (D), 04/25/2055 (E)		390,387		392,807
Series 2016-1, Class A1B,
2.75% (D), 02/25/2055 (E)		324,369		325,806
Series 2016-2, Class A1A,
2.75% (D), 08/25/2055 (E)		709,891		719,382
Series 2016-3, Class A1,
2.25% (D), 04/25/2056 (E)		318,287		318,692
Series 2016-4, Class A1,
2.25% (D), 07/25/2056 (E)		676,539		676,506
Series 2017-1, Class A1,
2.75% (D), 10/25/2056 (E)		896,905		907,626
Series 2017-2, Class A1,
2.75% (D), 04/25/2057 (E)		926,737		936,488
Series 2017-3, Class A1,
2.75% (D), 07/25/2057 (E)		387,740		393,272
Series 2017-6, Class A1,
2.75% (D), 10/25/2057 (E)		664,931		674,846
Series 2018-1, Class A1,
3.00% (D), 01/25/2058 (E)		1,034,041		1,053,158
Series 2018-3, Class A1,
3.75% (D), 05/25/2058 (E)		1,442,794		1,506,773
Series 2018-4, Class A1,
3.00% (D), 06/25/2058 (E)		939,338		968,840
Series 2019-1, Class A1,
3.75% (D), 03/25/2058 (E)		198,464		209,372
VB-S1 Issuer LLC
Series 2018-1A, Class C,
3.41%, 02/15/2048 (E)		1,155,000		1,172,560
VSE VOI Mortgage LLC
Series 2016-A, Class A,
2.54%, 07/20/2033 (E)		139,969		140,148
Welk Resorts LLC
Series 2017-AA, Class A,
2.82%, 06/15/2033 (E)		560,158		568,003
Wellfleet CLO, Ltd.
Series 2016-2A, Class A1R,
3-Month LIBOR + 1.14%, 2.96% (D), 10/20/2028 (E)		815,000		815,391
Total Asset-Backed Securities (Cost $35,248,208)				35,549,425
CORPORATE DEBT SECURITIES - 13.5%
Aerospace & Defense - 0.1%
Boeing Co.
3.50%, 03/01/2039		817,000		857,735
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		445,000		463,929
				1,321,664
Airlines - 0.5%
American Airlines Pass-Through Trust
3.20%, 12/15/2029		656,737		699,443
Delta Air Lines Pass-Through Trust
4.75%, 11/07/2021		333,648		336,148
6.82%, 02/10/2024		1,080,786		1,177,510

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Airlines (continued)
JetBlue Pass-Through Trust
2.75%, 11/15/2033		$   795,000		$   824,714
United Airlines Pass-Through Trust
3.75%, 03/03/2028		1,280,309		1,377,358
US Airways Pass-Through Trust
5.38%, 05/15/2023		628,340		656,765
				5,071,938
Auto Components - 0.0% (B)
BorgWarner, Inc.
3.38%, 03/15/2025		345,000		367,255
Automobiles - 0.1%
General Motors Co.
4.88%, 10/02/2023		453,000		491,066
6.25%, 10/02/2043		120,000		141,816
				632,882
Banks - 2.0%
Banco Santander SA
2.71%, 06/27/2024		1,200,000		1,233,272
Bank of America Corp.
Fixed until 01/23/2025, 3.37% (D), 01/23/2026		2,078,000		2,207,699
Fixed until 12/20/2027, 3.42% (D), 12/20/2028		1,178,000		1,264,363
Barclays Bank PLC
10.18%, 06/12/2021 (E)		1,217,000		1,346,722
BNP Paribas SA
4.40%, 08/14/2028 (E)		804,000		912,250
CIT Group, Inc.
4.13%, 03/09/2021		70,000		71,120
Citigroup, Inc.
Fixed until 01/29/2030, 2.67% (D), 01/29/2031		494,000		500,062
Fixed until 04/24/2024, 3.35% (D), 04/24/2025		787,000		828,155
Fixed until 10/27/2027, 3.52% (D), 10/27/2028		742,000		798,101
Commerzbank AG
8.13%, 09/19/2023 (E)		1,117,000		1,312,955
Credit Agricole SA
3.25%, 01/14/2030 (E)		824,000		849,449
Danske Bank A/S
Fixed until 12/20/2024, 3.24% (D), 12/20/2025 (E)		939,000		971,818
Discover Bank
3.45%, 07/27/2026		1,163,000		1,229,909
Intesa Sanpaolo SpA
5.02%, 06/26/2024 (E)		420,000		445,986
JPMorgan Chase & Co.
Fixed until 07/23/2023, 3.80% (D), 07/23/2024		1,105,000		1,174,221
4.13%, 12/15/2026		1,089,000		1,218,584
6.40%, 05/15/2038		569,000		843,135
Lloyds Banking Group PLC
Fixed until 11/07/2022, 2.91% (D), 11/07/2023		303,000		309,393
National Australia Bank, Ltd.
Fixed until 08/02/2029, 3.93% (D), 08/02/2034 (E)		830,000		882,501
Royal Bank of Scotland Group PLC
Fixed until 06/25/2023, 4.52% (D), 06/25/2024		376,000		403,607

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Wells Fargo & Co.
4.10%, 06/03/2026, MTN		$   1,468,000		$   1,614,697
Fixed until 06/15/2024 (G), 5.90% (D)		365,000		396,788
				20,814,787
Beverages - 0.4%
Anheuser-Busch InBev Worldwide, Inc.
4.15%, 01/23/2025		339,000		373,898
4.44%, 10/06/2048		857,000		1,014,859
4.75%, 01/23/2029		710,000		840,151
Constellation Brands, Inc.
3.15%, 08/01/2029		360,000		374,912
3.70%, 12/06/2026		164,000		178,400
Pernod Ricard SA
4.45%, 01/15/2022 (E)		385,000		404,506
5.75%, 04/07/2021 (E)		1,095,000		1,146,047
				4,332,773
Biotechnology - 0.1%
AbbVie, Inc.
3.20%, 05/14/2026		432,000		452,644
4.05%, 11/21/2039 (E)		370,000		402,590
Gilead Sciences, Inc.
4.15%, 03/01/2047 (C)		190,000		219,733
				1,074,967
Capital Markets - 1.0%
Ameriprise Financial, Inc.
3.00%, 03/22/2022		369,000		378,278
3.70%, 10/15/2024		604,000		655,549
Credit Suisse Group Funding Guernsey, Ltd.
3.75%, 03/26/2025		772,000		827,508
3.80%, 06/09/2023		738,000		779,429
Goldman Sachs Group, Inc.
5.25%, 07/27/2021		1,188,000		1,248,293
6.75%, 10/01/2037		774,000		1,105,827
Lazard Group LLC
4.50%, 09/19/2028		840,000		960,411
Morgan Stanley
Fixed until 01/22/2030, 2.70% (D), 01/22/2031, MTN		761,000		773,369
3.70%, 10/23/2024, MTN		1,117,000		1,204,092
Fixed until 01/24/2028, 3.77% (D), 01/24/2029, MTN		180,000		197,901
5.00%, 11/24/2025		521,000		595,726
UBS AG
7.63%, 08/17/2022		1,047,000		1,182,084
UBS Group AG
Fixed until 08/13/2029, 3.13% (D), 08/13/2030 (E)		336,000		351,114
				10,259,581
Chemicals - 0.1%
Syngenta Finance NV
3.93%, 04/23/2021 (E)		828,000		845,247
Commercial Services & Supplies - 0.2%
CK Hutchison International 17 II, Ltd.
2.25%, 09/29/2020 (E)		360,000		360,365
ERAC USA Finance LLC
2.70%, 11/01/2023 (E)		200,000		204,754
3.30%, 12/01/2026 (E)		395,000		418,002
3.85%, 11/15/2024 (E)		560,000		603,538

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Commercial Services & Supplies (continued)
Waste Connections, Inc.
2.60%, 02/01/2030		$   540,000		$   546,615
				2,133,274
Communications Equipment - 0.1%
Nokia OYJ
3.38%, 06/12/2022		654,000		663,810
Construction & Engineering - 0.5%
SBA Tower Trust
2.84%, 01/15/2025 (E)		2,915,000		3,017,211
2.88%, 07/15/2046 (E)		607,000		610,878
3.17%, 04/09/2047 (E)		800,000		814,056
3.45%, 03/15/2048 (E)		374,000		391,683
				4,833,828
Construction Materials - 0.2%
CRH America Finance, Inc.
4.50%, 04/04/2048 (E)		575,000		661,291
LafargeHolcim Finance LLC
4.75%, 09/22/2046 (E)		780,000		897,717
Martin Marietta Materials, Inc.
3.50%, 12/15/2027		400,000		429,466
4.25%, 12/15/2047		472,000		522,999
				2,511,473
Consumer Finance - 0.4%
Ally Financial, Inc.
3.88%, 05/21/2024		416,000		438,705
4.13%, 03/30/2020		915,000		918,129
American Express Co.
4.05%, 12/03/2042		410,000		503,880
BMW US Capital LLC
2.80%, 04/11/2026 (E)		1,104,000		1,141,235
Capital One Financial Corp.
3.30%, 10/30/2024		871,000		918,801
Ford Motor Credit Co. LLC
4.54%, 08/01/2026		533,000		554,653
				4,475,403
Containers & Packaging - 0.1%
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.13%, 07/15/2023 (E)		405,000		413,306
5.75%, 10/15/2020		629,920		631,369
				1,044,675
Diversified Consumer Services - 0.0% (B)
President & Fellows of Harvard College
3.62%, 10/01/2037		70,000		79,301
Diversified Financial Services - 0.1%
Aviation Capital Group LLC
7.13%, 10/15/2020 (E)		1,312,000		1,358,050
Diversified Telecommunication Services - 0.6%
AT&T, Inc.
3.40%, 05/15/2025		1,240,000		1,315,702
GTP Acquisition Partners I LLC
2.35%, 06/15/2045 (E)		165,000		163,802
Hughes Satellite Systems Corp.
7.63%, 06/15/2021		410,000		438,413
Level 3 Financing, Inc.
3.40%, 03/01/2027 (E)		555,000		570,151

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Telecommunication Services (continued)
Sprint Capital Corp.
6.88%, 11/15/2028		$   135,000		$   137,363
Verizon Communications, Inc.
3.50%, 11/01/2024		1,600,000		1,714,546
5.50%, 03/16/2047		1,052,000		1,467,791
				5,807,768
Electric Utilities - 0.6%
Appalachian Power Co.
3.40%, 06/01/2025		868,000		928,184
Cleveland Electric Illuminating Co.
5.95%, 12/15/2036		125,000		163,692
Duke Energy Corp.
3.75%, 04/15/2024 - 09/01/2046		1,596,000		1,706,547
Duke Energy Progress LLC
3.60%, 09/15/2047		594,000		656,632
Entergy Arkansas LLC
3.70%, 06/01/2024		206,000		221,073
Oncor Electric Delivery Co. LLC
4.10%, 06/01/2022		895,000		939,208
5.30%, 06/01/2042		75,000		102,841
PacifiCorp.
3.60%, 04/01/2024		544,000		581,703
5.75%, 04/01/2037		125,000		172,527
Public Service Electric & Gas Co.
3.00%, 05/15/2025, MTN		455,000		479,882
				5,952,289
Electronic Equipment, Instruments & Components - 0.3%
Amphenol Corp.
2.80%, 02/15/2030		576,000		584,252
Arrow Electronics, Inc.
3.25%, 09/08/2024		250,000		259,752
3.88%, 01/12/2028		216,000		227,790
Jabil, Inc.
3.60%, 01/15/2030		368,000		377,998
Keysight Technologies, Inc.
4.60%, 04/06/2027		1,131,000		1,286,704
				2,736,496
Energy Equipment & Services - 0.1%
Schlumberger Holdings Corp.
3.90%, 05/17/2028 (E)		861,000		928,123
Schlumberger Investment SA
3.65%, 12/01/2023		105,000		112,006
				1,040,129
Equity Real Estate Investment Trusts - 0.7%
American Tower Trust #1
3.65%, 03/15/2048 (E)		755,000		812,312
CBL & Associates, LP
5.25%, 12/01/2023 (C)		572,000		343,200
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		255,000		258,682
EPR Properties
4.75%, 12/15/2026		549,000		610,865
Healthcare Trust of America Holdings, LP
3.10%, 02/15/2030		480,000		496,047
Healthpeak Properties, Inc.
3.50%, 07/15/2029		404,000		432,249
Highwoods Realty, LP
3.05%, 02/15/2030		884,000		903,579
Kilroy Realty, LP
4.25%, 08/15/2029		865,000		968,285

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
Life Storage, LP
4.00%, 06/15/2029		$   414,000		$   455,120
Service Properties Trust
5.00%, 08/15/2022		909,000		957,937
VEREIT Operating Partnership, LP
4.63%, 11/01/2025		551,000		614,641
WEA Finance LLC
4.13%, 09/20/2028 (E)		745,000		826,791
				7,679,708
Food & Staples Retailing - 0.2%
Sysco Corp.
3.30%, 07/15/2026		576,000		620,148
Walmart, Inc.
3.63%, 12/15/2047		1,122,000		1,282,110
				1,902,258
Food Products - 0.0% (B)
Kraft Heinz Foods Co.
2.80%, 07/02/2020		24,000		24,047
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories
3.75%, 11/30/2026		177,000		196,497
Alcon Finance Corp.
2.75%, 09/23/2026 (E)		600,000		621,552
Boston Scientific Corp.
4.70%, 03/01/2049		591,000		744,293
				1,562,342
Health Care Providers & Services - 0.4%
Cigna Corp.
3.25%, 04/15/2025 (E)		521,000		546,305
CVS Health Corp.
2.13%, 06/01/2021		766,000		769,599
4.10%, 03/25/2025		286,000		311,004
HCA, Inc.
4.13%, 06/15/2029		253,000		273,795
5.25%, 04/15/2025		166,000		188,565
Laboratory Corp. of America Holdings
2.30%, 12/01/2024		830,000		841,253
Quest Diagnostics, Inc.
4.20%, 06/30/2029		828,000		933,883
				3,864,404
Household Durables - 0.1%
D.R. Horton, Inc.
4.38%, 09/15/2022		756,000		796,618
Industrial Conglomerates - 0.1%
Carlisle Cos., Inc.
3.75%, 12/01/2027		655,000		706,487
General Electric Co.
6.88%, 01/10/2039, MTN		420,000		594,744
				1,301,231
Insurance - 0.5%
American International Group, Inc.
4.20%, 04/01/2028		500,000		562,911
4.25%, 03/15/2029		580,000		657,992
Athene Global Funding
3.00%, 07/01/2022 (E)		612,000		626,866
CNA Financial Corp.
3.90%, 05/01/2029		450,000		499,608

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance (continued)
Fidelity National Financial, Inc.
5.50%, 09/01/2022		$   195,000		$   212,014
Markel Corp.
3.35%, 09/17/2029		1,380,000		1,459,511
Reinsurance Group of America, Inc.
3.90%, 05/15/2029		1,134,000		1,235,247
				5,254,149
Interactive Media & Services - 0.2%
Baidu, Inc.
4.38%, 05/14/2024		940,000		1,013,705
Tencent Holdings, Ltd.
3.28%, 04/11/2024 (E)		742,000		775,448
				1,789,153
Internet & Direct Marketing Retail - 0.1%
Booking Holdings, Inc.
3.60%, 06/01/2026		369,000		402,449
Expedia Group, Inc.
3.25%, 02/15/2030 (E)		375,000		368,612
3.80%, 02/15/2028		550,000		570,469
				1,341,530
IT Services - 0.1%
Fidelity National Information Services, Inc.
3.75%, 05/21/2029		299,000		334,168
Fiserv, Inc.
3.50%, 07/01/2029		753,000		811,409
				1,145,577
Life Sciences Tools & Services - 0.0% (B)
Thermo Fisher Scientific, Inc.
5.30%, 02/01/2044		316,000		421,715
Machinery - 0.0% (B)
Doosan Heavy Industries & Construction Co., Ltd.
2.13%, 04/27/2020 (E)		490,000		490,141
Media - 0.3%
CCO Holdings LLC / CCO Holdings Capital Corp.
5.75%, 01/15/2024		139,000		141,954
Charter Communications Operating LLC / Charter Communications Operating Capital
4.80%, 03/01/2050		405,000		433,402
Clear Channel Worldwide Holdings, Inc.
5.13%, 08/15/2027 (E)		300,000		309,000
NBCUniversal Enterprise, Inc.
5.25%, 03/19/2021 (E) (G)		550,000		567,677
NBCUniversal Media LLC
4.38%, 04/01/2021		504,000		519,825
4.45%, 01/15/2043		613,000		733,842
				2,705,700
Metals & Mining - 0.1%
Anglo American Capital PLC
4.00%, 09/11/2027 (E)		650,000		695,111
4.75%, 04/10/2027 (E)		230,000		255,883
Freeport-McMoRan, Inc.
3.88%, 03/15/2023		140,000		142,800
				1,093,794

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Multi-Utilities - 0.3%
Black Hills Corp.
4.25%, 11/30/2023		$   630,000		$   675,706
CMS Energy Corp.
3.88%, 03/01/2024		70,000		74,737
4.88%, 03/01/2044		152,000		193,024
Dominion Energy, Inc.
2.58%, 07/01/2020		516,000		517,528
DTE Electric Co.
4.30%, 07/01/2044		848,000		1,038,725
Public Service Enterprise Group, Inc.
2.65%, 11/15/2022		170,000		173,463
				2,673,183
Oil, Gas & Consumable Fuels - 1.2%
BP Capital Markets PLC
3.12%, 05/04/2026		1,426,000		1,509,998
Energy Transfer Operating, LP
4.90%, 02/01/2024		382,000		414,052
5.15%, 02/01/2043		600,000		614,639
5.95%, 10/01/2043		535,000		596,247
Enterprise Products Operating LLC
4.25%, 02/15/2048		1,082,000		1,179,384
Kinder Morgan Energy Partners, LP
4.15%, 02/01/2024		828,000		887,072
Nexen, Inc.
5.88%, 03/10/2035		10,000		13,290
Noble Energy, Inc.
3.25%, 10/15/2029		972,000		978,103
Occidental Petroleum Corp.
5.55%, 03/15/2026		1,271,000		1,468,987
Petroleos Mexicanos
6.50%, 01/23/2029		385,000		410,410
6.84%, 01/23/2030 (E)		892,000		966,482
6.88%, 08/04/2026		340,000		383,520
7.69%, 01/23/2050 (E)		95,000		104,367
Plains All American Pipeline, LP / PAA Finance Corp.
3.55%, 12/15/2029		888,000		883,072
Sabine Pass Liquefaction LLC
4.20%, 03/15/2028		378,000		404,602
Shell International Finance BV
2.50%, 09/12/2026		873,000		904,453
3.75%, 09/12/2046		195,000		219,657
TransCanada PipeLines, Ltd.
3.75%, 10/16/2023		120,000		126,943
4.63%, 03/01/2034		110,000		129,331
Western Midstream Operating, LP
4.05%, 02/01/2030		348,000		346,878
5.38%, 06/01/2021		225,000		232,141
Williams Cos., Inc.
5.40%, 03/04/2044		104,000		117,313
7.88%, 09/01/2021		100,000		108,874
				12,999,815
Pharmaceuticals - 0.3%
AstraZeneca PLC
2.38%, 06/12/2022		591,000		600,638
4.00%, 01/17/2029		211,000		239,840
4.38%, 08/17/2048		283,000		352,277
Bayer US Finance II LLC
4.38%, 12/15/2028 (E)		516,000		580,712
Bristol-Myers Squibb Co.
3.20%, 06/15/2026 (E)		331,000		352,089

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Pharmaceuticals (continued)
Merck & Co., Inc.
3.40%, 03/07/2029		$   375,000		$   414,551
Takeda Pharmaceutical Co., Ltd.
5.00%, 11/26/2028		691,000		823,628
				3,363,735
Professional Services - 0.0% (B)
Equifax, Inc.
2.60%, 12/01/2024		468,000		480,728
Road & Rail - 0.2%
Avolon Holdings Funding, Ltd.
4.38%, 05/01/2026 (E)		964,000		1,043,250
Burlington Northern Santa Fe LLC
3.00%, 03/15/2023		40,000		41,523
3.75%, 04/01/2024		37,000		39,849
CSX Corp.
3.80%, 11/01/2046		398,000		438,844
				1,563,466
Semiconductors & Semiconductor Equipment - 0.3%
Intel Corp.
2.88%, 05/11/2024		525,000		550,574
KLA Corp.
4.10%, 03/15/2029		610,000		684,816
Lam Research Corp.
3.75%, 03/15/2026		627,000		685,641
NXP BV / NXP Funding LLC / NXP USA, Inc.
4.30%, 06/18/2029 (E)		456,000		504,511
QUALCOMM, Inc.
3.25%, 05/20/2027		643,000		690,801
Sensata Technologies, Inc., Co.
4.38%, 02/15/2030 (E)		403,000		408,461
				3,524,804
Software - 0.1%
Adobe, Inc.
2.15%, 02/01/2027 (F)		560,000		567,634
Microsoft Corp.
3.30%, 02/06/2027		695,000		760,847
PTC, Inc.
4.00%, 02/15/2028 (F)		111,000		112,110
				1,440,591
Technology Hardware, Storage & Peripherals - 0.2%
Apple, Inc.
2.85%, 02/23/2023		772,000		799,748
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (E)		559,000		652,762
Western Digital Corp.
4.75%, 02/15/2026 (C)		855,000		912,713
				2,365,223
Tobacco - 0.1%
Altria Group, Inc.
4.80%, 02/14/2029		532,000		602,961
BAT Capital Corp.
3.22%, 08/15/2024		576,000		598,810
				1,201,771
Transportation Infrastructure - 0.0% (B)
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.45%, 07/01/2024 (E)		415,000		437,975

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Wireless Telecommunication Services - 0.3%
America Movil SAB de CV
3.13%, 07/16/2022		$   407,000		$   419,682
4.38%, 07/16/2042		300,000		355,633
Crown Castle Towers LLC
3.22%, 05/15/2042 (E)		1,655,000		1,683,255
3.72%, 07/15/2043 (E)		160,000		166,902
Sprint Corp.
7.25%, 09/15/2021		200,000		209,750
7.88%, 09/15/2023		390,000		414,332
				3,249,554
Total Corporate Debt Securities (Cost $133,832,390)				142,030,802
FOREIGN GOVERNMENT OBLIGATIONS - 0.5%
Brazil - 0.0% (B)
Brazil Government International Bond
4.25%, 01/07/2025		330,000		357,225
Chile - 0.1%
Chile Government International Bond
3.50%, 01/25/2050		400,000		435,200
Colombia - 0.1%
Colombia Government International Bond
4.00%, 02/26/2024		235,000		249,321
4.50%, 01/28/2026		850,000		937,023
				1,186,344
Indonesia - 0.1%
Indonesia Government International Bond
4.75%, 01/08/2026 (E)		610,000		683,096
5.38%, 10/17/2023 (E)		115,000		128,033
				811,129
Mexico - 0.1%
Mexico Government International Bond
3.75%, 01/11/2028		1,126,000		1,193,560
Panama - 0.0% (B)
Panama Government International Bond
3.88%, 03/17/2028		315,000		347,606
Peru - 0.0% (B)
Peru Government International Bond
7.35%, 07/21/2025		125,000		159,812
Poland - 0.0% (B)
Republic of Poland Government International Bond
3.00%, 03/17/2023		275,000		285,428
Qatar - 0.0% (B)
Qatar Government International Bond
3.88%, 04/23/2023 (E)		200,000		211,500
Saudi Arabia - 0.1%
Saudi Arabia Government International Bond
2.38%, 10/26/2021 (E)		455,000		458,604
Total Foreign Government Obligations (Cost $5,120,941)				5,446,408

	Principal		Value
MORTGAGE-BACKED SECURITIES - 3.9%
Aventura Mall Trust
Series 2013-AVM, Class A,
3.87% (D), 12/05/2032 (E)		$   700,000		$   704,278
BB-UBS Trust
Series 2012-SHOW, Class XA,
0.73% (D), 11/05/2036 (E)		3,045,000		85,127
Series 2012-TFT, Class A,
2.89%, 06/05/2030 (E)		1,145,000		1,145,390
Series 2012-TFT, Class C,
3.58% (D), 06/05/2030 (E)		1,070,000		1,065,281
BBCMS Trust
Series 2015-MSQ, Class B,
3.89%, 09/15/2032 (E)		1,600,000		1,657,757
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
3.75%, 03/10/2047		80,457		85,795
Series 2014-GC19, Class A4,
4.02%, 03/10/2047		220,000		236,922
Citigroup Mortgage Loan Trust, Inc.
Series 2015-A, Class A1,
3.50% (D), 06/25/2058 (E)		213,752		217,932
Series 2018-RP1, Class A1,
3.00% (D), 09/25/2064 (E)		547,022		557,426
COMM Mortgage Trust
Series 2013-CR11, Class AM,
4.72% (D), 08/10/2050		1,310,000		1,431,294
Series 2013-GAM, Class A1,
1.71%, 02/10/2028 (E)		70,454		70,205
Series 2013-GAM, Class A2,
3.37%, 02/10/2028 (E)		110,000		110,610
Series 2013-WWP, Class B,
3.73%, 03/10/2031 (E)		1,150,000		1,215,238
Series 2014-UBS2, Class A5,
3.96%, 03/10/2047		2,415,000		2,594,804
Series 2015-3BP, Class A,
3.18%, 02/10/2035 (E)		2,680,000		2,841,502
Series 2016-GCT, Class C,
3.58% (D), 08/10/2029 (E)		520,000		526,195
Commercial Mortgage Pass-Through Certificates Trust
Series 2012-LTRT, Class A2,
3.40%, 10/05/2030 (E)		830,000		846,166
CSMC Trust
Series 2014-4R, Class 21A1,
1-Month LIBOR + 0.33%, 2.45% (D), 12/27/2035 (E)		340,912		339,663
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class B,
3.45%, 12/10/2036 (E)		1,250,000		1,306,739
GS Mortgage Securities Trust
Series 2013-G1, Class A2,
3.56% (D), 04/10/2031 (E)		675,000		693,217
Houston Galleria Mall Trust
Series 2015-HGLR, Class A1A2,
3.09%, 03/05/2037 (E)		700,000		729,916
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2010-C1, Class B,
5.95%, 06/15/2043 (E)		370,000		371,942
Series 2012-WLDN, Class A,
3.91%, 05/05/2030 (E)		2,094,238		2,158,708
MetLife Securitization Trust
Series 2019-1A, Class A1A,
3.75% (D), 04/25/2058 (E)		232,812		243,049

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Morgan Stanley Bank of America Merrill Lynch Trust
Series 2012-C6, Class AS,
3.48%, 11/15/2045		$   320,000		$   330,803
Morgan Stanley Capital Barclays Bank Trust
Series 2016-MART, Class A,
2.20%, 09/13/2031 (E)		3,050,000		3,053,833
Morgan Stanley Resecuritization Trust
Series 2014-R3, Class 2A,
3.00% (D), 07/26/2048 (E)		356,828		357,026
Motel 6 Trust
Series 2017-MTL6, Class C,
1-Month LIBOR + 1.40%, 3.08% (D), 08/15/2034 (E)		2,226,793		2,226,773
Nationstar Mortgage Loan Trust
Series 2013-A, Class A,
3.75% (D), 12/25/2052 (E)		186,931		191,322
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (D), 01/25/2054 (E)		89,567		93,851
Series 2014-2A, Class A3,
3.75% (D), 05/25/2054 (E)		224,031		232,069
Series 2014-3A, Class AFX3,
3.75% (D), 11/25/2054 (E)		164,599		172,333
Series 2015-2A, Class A1,
3.75% (D), 08/25/2055 (E)		418,590		438,556
Series 2016-2A, Class A1,
3.75% (D), 11/26/2035 (E)		290,796		304,268
Series 2016-3A, Class A1B,
3.25% (D), 09/25/2056 (E)		289,542		298,557
Series 2016-4A, Class A1,
3.75% (D), 11/25/2056 (E)		347,767		363,186
Series 2017-1A, Class A1,
4.00% (D), 02/25/2057 (E)		828,125		872,723
Series 2017-2A, Class A3,
4.00% (D), 03/25/2057 (E)		695,169		735,914
Series 2017-3A, Class A1,
4.00% (D), 04/25/2057 (E)		1,155,016		1,214,744
Series 2017-4A, Class A1,
4.00% (D), 05/25/2057 (E)		979,956		1,037,171
Series 2018-1A, Class A1A,
4.00% (D), 12/25/2057 (E)		394,619		412,865
Series 2019-4A, Class A1B,
3.50% (D), 12/25/2058 (E)		2,256,981		2,341,264
Series 2019-5A, Class A1B,
3.50% (D), 08/25/2059 (E)		2,160,778		2,225,040
One Market Plaza Trust
Series 2017-1MKT, Class A,
3.61%, 02/10/2032 (E)		1,373,000		1,426,127
Palisades Center Trust
Series 2016-PLSD, Class A,
2.71%, 04/13/2033 (E)		950,000		947,942
Provident Funding Mortgage Loan Trust
Series 2005-1, Class 3A1,
1-Month LIBOR + 0.58%, 2.24% (D), 05/25/2035		102,665		104,065

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Queens Center Mortgage Trust
Series 2013-QCA, Class D,
3.59% (D), 01/11/2037 (E)		$   410,000		$   420,245
UBS-BAMLL Trust
Series 2012-WRM, Class A,
3.66%, 06/10/2030 (E)		560,000		576,453
Total Mortgage-Backed Securities (Cost $40,991,113)				41,612,286
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.3%
California - 0.3%
Los Angeles Community College District, General Obligation Unlimited,
6.60%, 08/01/2042		45,000		73,873
State of California, General Obligation Unlimited
7.30%, 10/01/2039		290,000		463,663
7.60%, 11/01/2040		480,000		835,200
7.70%, 11/01/2030		340,000		355,348
7.95%, 03/01/2036		905,000		909,407
University of California, Revenue Bonds,
Series AD,
4.86%, 05/15/2112		40,000		55,041
				2,692,532
Georgia - 0.0% (B)
Municipal Electric Authority of Georgia, Revenue Bonds,
Series A,
6.64%, 04/01/2057		35,000		50,130
New Jersey - 0.0% (B)
New Jersey Turnpike Authority, Revenue Bonds,
Series F,
7.41%, 01/01/2040		54,000		89,048
New York - 0.0% (B)
Metropolitan Transportation Authority, Revenue Bonds,
Series E,
6.81%, 11/15/2040		45,000		66,588
New York City Water & Sewer System, Revenue Bonds,
Series CC,
5.88%, 06/15/2044		45,000		70,559
New York State Dormitory Authority, Revenue Bonds,
Series H,
5.39%, 03/15/2040		40,000		52,770
Port Authority of New York & New Jersey, Revenue Bonds,
Series 181,
4.96%, 08/01/2046		70,000		97,530
				287,447
Total Municipal Government Obligations (Cost $3,000,149)				3,119,157
U.S. GOVERNMENT AGENCY OBLIGATIONS - 8.2%
Federal Home Loan Mortgage Corp.
5.00%, 08/01/2035		252,201		280,232
5.50%, 06/01/2041		92,352		103,708

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates
2.89%, 06/25/2027		$   2,744,032		$   2,866,301
3.01%, 07/25/2025		4,041,000		4,300,311
3.06% (D), 08/25/2024		1,820,000		1,922,741
3.49%, 01/25/2024		1,298,000		1,382,343
3.53% (D), 07/25/2023		1,000,000		1,059,862
Federal National Mortgage Association
3.33% (D), 10/25/2023		160,795		169,267
3.50%, 07/01/2028 - 11/01/2028		288,525		304,517
4.00%, 04/01/2026 - 06/01/2042		85,936		92,291
12-Month LIBOR + 1.52%, 4.05% (D), 02/01/2043		45,196		46,575
4.50%, 02/01/2025 - 06/01/2026		155,208		163,569
5.00%, 04/01/2039 - 11/01/2039		1,132,534		1,265,195
5.50%, 10/01/2036 - 12/01/2041		874,473		990,903
6.00%, 08/01/2036 - 06/01/2041		1,138,229		1,310,272
6.50%, 05/01/2040		104,062		119,173
Government National Mortgage Association, Interest Only STRIPS
0.80% (D), 02/16/2053		549,754		26,571
Uniform Mortgage-Backed Security
2.50%, TBA (F)		4,409,000		4,488,224
3.00%, TBA (F)		28,535,000		29,188,607
3.50%, TBA (F)		24,851,000		25,647,337
4.00%, TBA (F)		9,921,000		10,367,274
Total U.S. Government Agency Obligations (Cost $85,148,015)				86,095,273
U.S. GOVERNMENT OBLIGATIONS - 10.0%
U.S. Treasury - 8.8%
U.S. Treasury Bond
2.25%, 08/15/2046		2,276,000		2,378,242
2.50%, 02/15/2045 - 05/15/2046		7,240,000		7,921,682
2.75%, 08/15/2042 - 11/15/2047		5,460,400		6,268,264
2.88%, 08/15/2045		1,070,000		1,251,064
3.00%, 05/15/2042 - 02/15/2049		2,563,400		3,099,928
3.13%, 02/15/2042 - 05/15/2048		1,301,000		1,575,804
3.50%, 02/15/2039		3,780,000		4,805,768
3.63%, 02/15/2044		7,318,000		9,575,432
4.50%, 02/15/2036		2,882,500		4,009,490
4.75%, 02/15/2037		4,556,000		6,584,310
5.25%, 02/15/2029		2,129,000		2,804,791
U.S. Treasury Note
1.13%, 06/30/2021 - 09/30/2021		4,867,000		4,846,372
1.50%, 08/15/2026		575,000		577,898
1.63%, 11/15/2022 - 08/15/2029		11,784,000		11,908,051
2.25%, 11/15/2027		2,102,500		2,225,283
2.38%, 01/31/2023 - 05/15/2029		3,116,000		3,298,802
2.50%, 12/31/2020 - 01/31/2024		6,726,000		6,928,538
2.63%, 08/15/2020 - 02/15/2029		3,374,500		3,500,114
2.88%, 05/15/2028 - 05/15/2049		7,600,900		8,733,277
3.13%, 11/15/2028		939,500		1,065,268
				93,358,378
U.S. Treasury Inflation-Protected Securities - 1.2%
U.S. Treasury Inflation-Indexed Bond
1.75%, 01/15/2028		2,321,713		2,667,706
2.50%, 01/15/2029		2,765,726		3,413,917

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury Inflation-Protected Securities (continued)
U.S. Treasury Inflation-Indexed Note
0.63%, 01/15/2024		$   6,130,168		$   6,323,951
				12,405,574
Total U.S. Government Obligations (Cost $96,685,954)				105,763,952
COMMERCIAL PAPER - 5.3%
Banks - 0.1%
Natixis
1.89% (H), 02/04/2020		816,000		815,874
Capital Markets - 0.3%
Cedar Springs Capital Co. LLC
2.04% (H), 03/16/2020		3,000,000		2,992,667
Commercial Services & Supplies - 0.3%
Charta LLC
1.88% (H), 03/02/2020		3,400,000		3,394,758
Diversified Financial Services - 4.6%
Anglesea Funding PLC
1.89% (H), 02/03/2020		3,850,000		3,849,602
Atlantic Asset Securitization LLC
1.86% (H), 02/05/2020		250,000		249,949
Barton Capital Corp.
1.73% (H), 04/21/2020		2,250,000		2,241,500
Bennington Stark Capital Co. LLC
1.92% (H), 02/19/2020		3,800,000		3,796,428
Cafco LLC
1.71% (H), 04/21/2020		3,400,000		3,387,307
Canada Asset Securitization LLC
1.88% (H), 02/13/2020		3,750,000		3,747,687
Chariot Funding LLC
1.87% (H), 03/03/2020		3,000,000		2,995,247
Ciesco LLC
1.77% (H), 04/13/2020		3,800,000		3,786,776
Collateralized Commercial Paper Flex Co. LLC
1.99% (H), 03/19/2020		3,500,000		3,491,089
Gotham Funding Corp.
1.99% (H), 03/10/2020		3,500,000		3,492,796
Jupiter Securitization Co. LLC
1.78% (H), 04/13/2020		1,900,000		1,893,350
Kells Funding LLC
1.73% (H), 04/21/2020		4,000,000		3,984,889
Liberty Funding LLC
1.77% (H), 04/14/2020		360,000		358,730
1.85% (H), 04/01/2020		2,500,000		2,492,417
Mont Blanc Capital Corp.
1.91% (H), 02/12/2020		1,500,000		1,499,143
Ridgefield Funding Co.
1.88% (H), 02/20/2020		2,550,000		2,547,510
Sheffield Receivables Corp.
1.91% (H), 02/19/2020		3,810,000		3,806,437
Victory Receivables
1.99% (H), 03/10/2020		1,600,000		1,596,707
				49,217,564
Total Commercial Paper (Cost $56,420,863)				56,420,863
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 1.3%
U.S. Treasury Bill
1.54% (H), 02/06/2020 - 04/02/2020		9,800,000		9,775,754

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury Bill (continued)
1.55% (H), 03/12/2020		$   1,103,000		$   1,101,139
1.56% (H), 03/12/2020		2,500,000		2,495,751
Total Short-Term U.S. Government Obligations (Cost $13,372,644)				13,372,644
	Shares		Value
OTHER INVESTMENT COMPANY - 0.2%
Securities Lending Collateral - 0.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (H)		2,075,095		2,075,095
Total Other Investment Company (Cost $2,075,095)				2,075,095

	Principal		Value
REPURCHASE AGREEMENT - 1.1%
Fixed Income Clearing Corp., 0.85% (H), dated 01/31/2020, to be repurchased at $12,046,304 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $12,290,716.		$  12,045,451		$   12,045,451
Total Repurchase Agreement (Cost $12,045,451)				12,045,451
Total Investments (Cost $894,137,947)				1,127,687,833
Net Other Assets (Liabilities) - (6.9)%				(73,164,686	)
Net Assets - 100.0%				$  1,054,523,147

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
S&P 500® E-Mini Index		48		03/20/2020		$	7,902,372		$	7,737,600		$	—		$	(164,772	)

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Multi-Managed Balanced

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(I)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	623,767,276		$	—	$	—	$	623,767,276
Preferred Stocks		389,201			—		—		389,201
Asset-Backed Securities		—			35,549,425		—		35,549,425
Corporate Debt Securities		—			142,030,802		—		142,030,802
Foreign Government Obligations		—			5,446,408		—		5,446,408
Mortgage-Backed Securities		—			41,612,286		—		41,612,286
Municipal Government Obligations		—			3,119,157		—		3,119,157
U.S. Government Agency Obligations		—			86,095,273		—		86,095,273
U.S. Government Obligations		—			105,763,952		—		105,763,952
Commercial Paper		—			56,420,863		—		56,420,863
Short-Term U.S. Government Obligations		—			13,372,644		—		13,372,644
Other Investment Company		2,075,095			—		—		2,075,095
Repurchase Agreement		—			12,045,451		—		12,045,451
Total Investments	$	626,231,572		$	501,456,261	$	—	$	1,127,687,833
LIABILITIES
Other Financial Instruments
Futures Contracts (J)	$	(164,772	)	$	—	$	—	$	(164,772	)
Total Other Financial Instruments	$	(164,772	)	$	—	$	—	$	(164,772	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Percentage rounds to less than 0.1% or (0.1)%.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $2,026,292. 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)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(E)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $110,081,072, representing 10.4% of the Fund’s net assets.
(F)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(G)	Perpetual maturity. The date displayed is the next call date.
(H)	Rates disclosed reflect the yields at January 31, 2020.
(I)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(J)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Multi-Manager Alternative Strategies Portfolio

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
INVESTMENT COMPANIES - 98.4%
International Alternative Funds - 32.2%
Transamerica Global Multifactor Macro (A)		1,162,602		$  10,591,307
Transamerica Unconstrained Bond (A)		1,458,366		14,496,160
				25,087,467
International Equity Funds - 7.0%
Transamerica Emerging Markets Equity (A)		272,191		2,648,420
Transamerica Global Real Estate Securities (A)		190,713		2,759,619
				5,408,039
International Fixed Income Funds - 17.3%
Transamerica Emerging Markets Debt (A)		504,624		5,449,936
Transamerica Inflation Opportunities (A)		762,966		8,049,294
				13,499,230
U.S. Alternative Funds - 33.3%
Transamerica Event Driven (A)		840,893		9,148,912
Transamerica Long/Short Strategy (A)		1,436,983		8,593,157
Transamerica Managed Futures Strategy (A)		1,182,606		8,195,458
				25,937,527
U.S. Fixed Income Funds - 5.8%
Transamerica Core Bond (A)		160,789		1,668,990
Transamerica High Yield Bond (A)		311,735		2,871,084
				4,540,074

	Shares		Value
INVESTMENT COMPANIES (continued)
U.S. Mixed Allocation Fund - 2.8%
Transamerica MLP & Energy Income (A)		330,033		$   2,158,418
Total Investment Companies (Cost $77,188,945)				76,630,755
	Principal		Value
REPURCHASE AGREEMENT - 3.3%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $2,553,910 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $2,608,105.		$  2,553,730		2,553,730
Total Repurchase Agreement (Cost $2,553,730)				2,553,730
Total Investments (Cost $79,742,675)				79,184,485
Net Other Assets (Liabilities) - (1.7)%				(1,344,319	)
Net Assets - 100.0%				$  77,840,166

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
S&P 500® E-Mini Index		7		03/20/2020		$	1,114,378		$	1,128,400		$	14,022		$	—

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Investment Companies	$	76,630,755	$	—	$	—	$	76,630,755
Repurchase Agreement		—		2,553,730		—		2,553,730
Total Investments	$	76,630,755	$	2,553,730	$	—	$	79,184,485
Other Financial Instruments
Futures Contracts (D)	$	14,022	$	—	$	—	$	14,022
Total Other Financial Instruments	$	14,022	$	—	$	—	$	14,022

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Multi-Manager Alternative Strategies Portfolio

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A) Affiliated investment in the Class I2 shares of Transamerica Funds. The Fund’s transactions and earnings are as follows:

Affiliated Investments	Value October 31, 2019		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Net Change in Unrealized Appreciation (Depreciation)			Value January 31, 2020		Shares as of January 31, 2020		Dividend Income		Net Capital Gain Distributions
Transamerica Core Bond	$	1,316,254	$	331,229	$	—		$	—		$	21,507		$	1,668,990		160,789	$	11,230	$	—
Transamerica Emerging Markets Debt		5,707,471		99,962		(500,000	)		8,237			134,266			5,449,936		504,624		99,962		—
Transamerica Emerging Markets Equity		2,303,986		734,545		(325,000	)		1,479			(66,590	)		2,648,420		272,191		84,545		—
Transamerica Event Driven		9,808,849		39,464		(1,090,000	)		72,651			317,948			9,148,912		840,893		39,465		—
Transamerica Global Multifactor Macro		11,249,343		258,576		(800,000	)		(77,749	)		(38,863	)		10,591,307		1,162,602		258,576		—
Transamerica Global Real Estate Securities		3,214,694		209,916		(500,000	)		28,017			(193,008	)		2,759,619		190,713		111,152		98,764
Transamerica High Yield Bond		3,044,598		41,125		(250,000	)		(2,694	)		38,055			2,871,084		311,735		41,983		—
Transamerica Inflation Opportunities		8,499,582		35,757		(645,000	)		33,615			125,340			8,049,294		762,966		35,756		—
Transamerica Long/Short Strategy		9,047,951		905,821		(910,000	)		(254,539	)		(196,076	)		8,593,157		1,436,983		—		905,822
Transamerica Managed Futures Strategy		8,613,413		332,808		(350,000	)		(131,000	)		(269,763	)		8,195,458		1,182,606		332,807		—
Transamerica MLP & Energy Income		2,365,837		33,455		(250,000	)		(17,928	)		27,054			2,158,418		330,033		33,456		—
Transamerica Unconstrained Bond		15,211,375		120,575		(1,000,000	)		1,804			162,406			14,496,160		1,458,366		123,227		—
Total	$	80,383,353	$	3,143,233	$	(6,620,000	)	$	(338,107	)	$	62,276		$	76,630,755		8,614,501	$	1,172,159	$	1,004,586

(B)	Rate disclosed reflects the yield at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(D)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 16.0%
Avid Automobile Receivables Trust
Series 2019-1, Class A,
2.62%, 02/15/2024 (A)		$  4,502,246		$  4,511,320
Benefit Street Partners CLO VII, Ltd.
Series 2015-VIIA, Class A2R,
3-Month LIBOR + 1.20%, 3.02% (B), 07/18/2027 (A)		8,000,000		8,000,128
BXG Receivables Note Trust
Series 2012-A, Class A,
2.66%, 12/02/2027 (A)		1,587,591		1,587,494
Series 2013-A, Class A,
3.01%, 12/04/2028 (A)		4,656,587		4,653,649
Series 2017-A, Class A,
2.95%, 10/04/2032 (A)		5,320,292		5,347,429
CIFC Funding, Ltd.
Series 2015-2A, Class BR,
3-Month LIBOR + 1.25%, 3.08% (B), 04/15/2027 (A)		16,270,000		16,272,554
Citigroup Mortgage Loan Trust, Inc.
Series 2003-HE3, Class A,
1-Month LIBOR + 0.76%, 2.42% (B), 12/25/2033		86,603		86,605
CWABS, Inc. Asset-Backed Certificates Trust
Series 2006-17, Class 2A2,
1-Month LIBOR + 0.15%, 1.81% (B), 03/25/2047		6,772,150		6,668,902
Dell Equipment Finance Trust
Series 2019-2, Class A3,
1.91%, 10/22/2024 (A)		10,000,000		10,026,837
Diamond Resorts Owner Trust
Series 2017-1A, Class A,
3.27%, 10/22/2029 (A)		5,041,017		5,114,488
Series 2019-1A, Class A,
2.89%, 02/20/2032 (A)		8,468,560		8,587,747
DT Auto Owner Trust
Series 2020-1A, Class A,
1.94%, 09/15/2023 (A) (C)		3,750,000		3,750,794
Series 2020-1A, Class B,
2.16%, 05/15/2024 (A) (C)		3,000,000		3,002,431
Halcyon Loan Advisors Funding, Ltd.
Series 2014-3A, Class B1R,
3-Month LIBOR + 1.70%, 3.50% (B), 10/22/2025 (A)		10,000,000		10,014,650
Series 2015-1A, Class B1R,
3-Month LIBOR + 1.55%, 3.38% (B), 04/20/2027 (A)		8,000,000		8,004,008
Hertz Vehicle Financing II, LP
Series 2019-1A, Class B,
4.10%, 03/25/2023 (A)		11,900,000		12,330,437
Hilton Grand Vacations Trust
Series 2014-AA, Class B,
2.07%, 11/25/2026 (A)		1,997,867		1,991,452
Series 2019-AA, Class A,
2.34%, 07/25/2033 (A)		9,069,001		9,148,886
ICG CLO, Ltd.
Series 2016-1A, Class A2R,
3-Month LIBOR + 1.70%, 3.47% (B), 07/29/2028 (A)		6,000,000		6,002,784

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Jamestown CLO IV, Ltd.
Series 2014-4A, Class A2R,
3-Month LIBOR + 1.35%, 3.18% (B), 07/15/2026 (A)		$   13,500,000		$   13,506,871
Marathon CLO VII, Ltd.
Series 2014-7A, Class A1R,
3-Month LIBOR + 1.32%, 3.12% (B), 10/28/2025 (A)		4,824,409		4,828,578
Mill City Mortgage Loan Trust
Series 2017-3, Class A1,
2.75% (B), 01/25/2061 (A)		11,525,411		11,644,340
Mountain View CLO, Ltd.
Series 2014-1A, Class BRR,
3-Month LIBOR + 1.45%, 3.28% (B), 10/15/2026 (A)		10,000,000		10,003,210
MVW LLC
Series 2019-2A, Class B,
2.44%, 10/20/2038 (A)		7,954,542		7,999,774
MVW Owner Trust
Series 2014-1A, Class B,
2.70%, 09/22/2031 (A)		1,804,442		1,810,252
Series 2015-1A, Class A,
2.52%, 12/20/2032 (A)		1,850,555		1,856,259
Series 2019-1A, Class A,
2.89%, 11/20/2036 (A)		10,995,616		11,287,025
New Residential Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.52%, 08/15/2053 (A)		10,000,000		10,041,818
Series 2019-T3, Class AT3,
2.51%, 09/15/2052 (A)		15,000,000		15,111,454
Series 2019-T4, Class AT4,
2.33%, 10/15/2051 (A)		5,000,000		5,014,581
Series 2019-T4, Class BT4,
2.46%, 10/15/2051 (A)		5,000,000		5,014,535
Series 2019-T5, Class DT5,
2.85%, 10/15/2051 (A)		10,000,000		10,044,820
NRZ Advance Receivables Trust
Series 2019-T1, Class AT1,
2.59%, 07/15/2052 (A)		5,000,000		5,044,522
Series 2019-T1, Class CT1,
2.93%, 07/15/2052 (A)		5,000,000		5,043,496
Ocwen Master Advance Receivables Trust
Series 2019-T1, Class AT1,
2.51%, 08/15/2050 (A)		5,000,000		5,024,124
Series 2019-T2, Class AT2,
2.42%, 08/15/2051 (A)		13,000,000		13,138,441
Orange Lake Timeshare Trust
Series 2014-AA, Class A,
2.29%, 07/09/2029 (A)		1,974,675		1,972,133
Series 2015-AA, Class A,
2.88%, 09/08/2027 (A)		3,456,034		3,483,572
Series 2016-A, Class A,
2.61%, 03/08/2029 (A)		6,931,821		6,995,716
Series 2018-A, Class C,
3.74%, 11/08/2030 (A)		4,520,462		4,588,208
Series 2019-A, Class C,
3.61%, 04/09/2038 (A)		7,412,839		7,569,083
OZLM Funding IV, Ltd.
Series 2013-4A, Class A2R,
3-Month LIBOR + 1.70%, 3.50% (B), 10/22/2030 (A)		6,000,000		6,002,262

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Sierra Timeshare Receivables Funding LLC
Series 2018-2A, Class B,
3.65%, 06/20/2035 (A)		$   3,336,705		$   3,438,721
Series 2018-3A, Class A,
3.69%, 09/20/2035 (A)		4,008,779		4,163,810
Series 2018-3A, Class D,
5.20%, 09/20/2035 (A)		3,918,582		4,064,545
Series 2019-2A, Class C,
3.12%, 05/20/2036 (A)		7,595,894		7,657,755
Small Business Lending Trust
Series 2019-A, Class A,
2.85%, 07/15/2026 (A)		7,866,103		7,878,360
Sofi Consumer Loan Program LLC
Series 2017-1, Class A,
3.28%, 01/26/2026 (A)		1,397,744		1,402,592
SPS Servicer Advanced Receivables Trust
Series 2019-T2, Class AT2,
2.32%, 10/15/2052 (A)		14,150,000		14,252,288
TICP CLO I, Ltd.
Series 2015-1A, Class BR,
3-Month LIBOR + 1.30%, 3.12% (B), 07/20/2027 (A)		10,000,000		10,007,570
TICP CLO III, Ltd.
Series 2018-3R, Class B,
3-Month LIBOR + 1.35%, 3.17% (B), 04/20/2028 (A)		10,000,000		9,996,020
Towd Point Mortgage Trust
Series 2015-3, Class A1B,
3.00% (B), 03/25/2054 (A)		1,222,926		1,227,294
Series 2015-4, Class A1B,
2.75% (B), 04/25/2055 (A)		4,449,859		4,453,637
Series 2016-3, Class A1,
2.25% (B), 04/25/2056 (A)		5,269,415		5,276,118
Series 2016-5, Class A1,
2.50% (B), 10/25/2056 (A)		7,759,486		7,799,019
Series 2017-1, Class A1,
2.75% (B), 10/25/2056 (A)		11,654,692		11,794,013
Series 2017-2, Class A1,
2.75% (B), 04/25/2057 (A)		5,120,092		5,173,966
Series 2017-3, Class A1,
2.75% (B), 07/25/2057 (A)		9,104,698		9,234,597
Series 2017-4, Class A1,
2.75% (B), 06/25/2057 (A)		9,418,612		9,593,593
Series 2017-6, Class A1,
2.75% (B), 10/25/2057 (A)		11,532,402		11,704,357
Series 2018-1, Class A1,
3.00% (B), 01/25/2058 (A)		9,754,453		9,934,790
Series 2018-2, Class A1,
3.25% (B), 03/25/2058 (A)		4,470,896		4,582,422
Series 2018-3, Class A1,
3.75% (B), 05/25/2058 (A)		7,715,474		8,057,610
Series 2019-1, Class A1,
3.75% (B), 03/25/2058 (A)		10,354,664		10,923,773
Trafigura Securitisation Finance PLC
Series 2017-1A, Class A2,
2.47%, 12/15/2020 (A)		10,000,000		10,003,270
Series 2018-1A, Class A2,
3.73%, 03/15/2022 (A)		11,000,000		11,247,522
VSE VOI Mortgage LLC
Series 2017-A, Class A,
2.33%, 03/20/2035 (A)		7,334,911		7,384,617
Welk Resorts LLC
Series 2013-AA, Class A,
3.10%, 03/15/2029 (A)		1,797,767		1,797,771
Series 2015-AA, Class A,
2.79%, 06/16/2031 (A)		2,441,416		2,447,886

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Series 2017-AA, Class A,
2.82%, 06/15/2033 (A)		$   4,505,616		$   4,568,720
Wellfleet CLO, Ltd.
Series 2016-1A, Class BR,
3-Month LIBOR + 1.50%, 3.32% (B), 04/20/2028 (A)		15,000,000		15,000,885
Total Asset-Backed Securities (Cost $501,256,697)				507,195,190
CORPORATE DEBT SECURITIES - 61.8%
Aerospace & Defense - 0.5%
Lockheed Martin Corp.
2.50%, 11/23/2020		7,102,000		7,143,781
United Technologies Corp.
3.65%, 08/16/2023		9,427,000		10,032,410
				17,176,191
Airlines - 1.3%
America West Airlines Pass-Through Trust
8.06%, 01/02/2022		5,264,776		5,394,232
Delta Air Lines Pass-Through Trust
3.20%, 10/25/2025		6,212,000		6,562,622
6.82%, 02/10/2024		3,475,575		3,786,618
Delta Air Lines, Inc.
3.80%, 04/19/2023		9,957,000		10,342,946
Northwest Airlines Pass-Through Trust
6.26%, 05/20/2023		340,272		350,948
Southwest Airlines Co.
2.65%, 11/05/2020 (D)		9,964,000		10,019,746
US Airways Pass-Through Trust
3.95%, 05/15/2027		4,990,553		5,350,128
				41,807,240
Banks - 17.0%
ABN AMRO Bank NV
3.40%, 08/27/2021 (A)		15,000,000		15,375,270
AIB Group PLC
4.75%, 10/12/2023 (A)		8,438,000		9,162,763
Australia & New Zealand Banking Group, Ltd.
2.05%, 11/21/2022, MTN		15,000,000		15,143,723
Banco Santander SA
2.71%, 06/27/2024		8,400,000		8,632,907
3.85%, 04/12/2023		4,600,000		4,845,695
Bank of America Corp.
Fixed until 07/21/2020, 2.37% (B), 07/21/2021, MTN		9,888,000		9,917,683
Fixed until 12/20/2022, 3.00% (B), 12/20/2023		7,542,000		7,768,507
Fixed until 01/20/2022, 3.12% (B), 01/20/2023, MTN		8,000,000		8,191,290
Banque Federative du Credit Mutuel SA
2.13%, 11/21/2022 (A)		15,456,000		15,576,589
BNP Paribas SA
5.00%, 01/15/2021		17,935,000		18,484,560
BPCE SA
2.38%, 01/14/2025 (A) (D)		8,000,000		8,064,447
2.75%, 12/02/2021, MTN		19,500,000		19,836,573
Canadian Imperial Bank of Commerce
Fixed until 07/22/2022, 2.61% (B), 07/22/2023		10,635,000		10,811,337
CIT Bank NA
Fixed until 09/27/2024, 2.97% (B), 09/27/2025		6,927,000		6,978,953

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
CIT Group, Inc.
4.13%, 03/09/2021		$   600,000		$   609,600
Citibank, NA
Fixed until 05/20/2021, 2.84% (B), 05/20/2022		11,000,000		11,147,749
Citigroup, Inc.
Fixed until 11/04/2021, 2.31% (B), 11/04/2022		9,909,000		9,976,138
2.70%, 03/30/2021		4,127,000		4,176,229
Commerzbank AG
8.13%, 09/19/2023 (A) (D)		8,000,000		9,403,437
Cooperatieve Rabobank UA
3.95%, 11/09/2022		10,100,000		10,608,175
Credit Agricole SA
2.38%, 01/22/2025 (A)		9,011,000		9,141,109
2.75%, 06/10/2020 (A)		8,109,000		8,134,786
Danske Bank A/S
Fixed until 09/20/2021, 3.00% (B), 09/20/2022 (A)		10,000,000		10,128,709
Discover Bank
7.00%, 04/15/2020		16,576,000		16,739,638
Fifth Third Bancorp
3.65%, 01/25/2024		10,000,000		10,639,365
Fifth Third Bank
3.35%, 07/26/2021		8,848,000		9,052,284
First Horizon National Corp.
3.50%, 12/15/2020 (D)		8,160,000		8,261,332
First Niagara Financial Group, Inc.
7.25%, 12/15/2021		6,340,000		6,944,665
HSBC Holdings PLC
3.40%, 03/08/2021		15,300,000		15,572,511
Huntington Bancshares, Inc.
2.30%, 01/14/2022		13,724,000		13,856,358
ING Bank NV
5.80%, 09/25/2023 (A)		12,067,000		13,516,307
Intesa Sanpaolo SpA
3.25%, 09/23/2024 (A) (D)		11,000,000		11,237,423
JPMorgan Chase & Co.
Fixed until 12/05/2023, 4.02% (B), 12/05/2024		10,000,000		10,784,035
4.25%, 10/15/2020		6,865,000		6,985,844
JPMorgan Chase Bank NA
Fixed until 04/26/2020, 3.09% (B), 04/26/2021		10,000,000		10,030,440
MUFG Union Bank NA
3.15%, 04/01/2022		11,000,000		11,306,984
PNC Financial Services Group, Inc.
3.90%, 04/29/2024		7,811,000		8,411,401
Regions Financial Corp.
2.75%, 08/14/2022		12,360,000		12,637,885
Royal Bank of Canada
3.70%, 10/05/2023, MTN		14,954,000		15,959,241
Royal Bank of Scotland Group PLC
6.00%, 12/19/2023		11,648,000		13,105,590
Santander Holdings USA, Inc.
2.65%, 04/17/2020		8,898,000		8,907,345
Santander UK PLC
5.00%, 11/07/2023 (A)		10,000,000		10,875,421
Truist Bank
2.80%, 05/17/2022		11,949,000		12,218,991
Truist Financial Corp.
2.15%, 02/01/2021, MTN		12,037,000		12,079,481
UniCredit SpA
6.57%, 01/14/2022 (A)		10,000,000		10,760,146
US Bancorp
2.40%, 07/30/2024		9,070,000		9,315,126

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Wells Fargo & Co.
3.75%, 01/24/2024, MTN		$   14,000,000		$   14,952,035
Wells Fargo Bank NA
2.60%, 01/15/2021		19,494,000		19,660,217
Zions Bancorp NA
3.35%, 03/04/2022		5,582,000		5,737,057
3.50%, 08/27/2021		8,390,000		8,600,102
				540,263,453
Beverages - 2.2%
Anheuser-Busch InBev Finance, Inc.
3.70%, 02/01/2024		10,120,000		10,877,617
Anheuser-Busch InBev Worldwide, Inc.
3.50%, 01/12/2024		6,971,000		7,430,446
Constellation Brands, Inc.
2.65%, 11/07/2022		8,537,000		8,727,265
2.70%, 05/09/2022		5,441,000		5,534,703
Diageo Capital PLC
3.50%, 09/18/2023 (D)		9,800,000		10,406,084
PepsiCo, Inc.
3.10%, 07/17/2022		7,471,000		7,726,490
Pernod Ricard SA
4.45%, 01/15/2022 (A)		8,000,000		8,405,320
5.75%, 04/07/2021 (A)		9,466,000		9,907,285
				69,015,210
Biotechnology - 1.1%
AbbVie, Inc.
2.50%, 05/14/2020		6,351,000		6,358,778
2.60%, 11/21/2024 (A)		9,959,000		10,173,641
Amgen, Inc.
4.50%, 03/15/2020 (D)		13,653,000		13,693,142
Biogen, Inc.
2.90%, 09/15/2020		4,981,000		5,014,761
				35,240,322
Capital Markets - 4.3%
Ameriprise Financial, Inc.
3.00%, 03/22/2022		7,986,000		8,186,809
5.30%, 03/15/2020		7,040,000		7,068,160
Bank of New York Mellon Corp.
2.20%, 08/16/2023, MTN		10,000,000		10,162,022
2.50%, 04/15/2021, MTN		10,123,000		10,224,399
Charles Schwab Corp.
2.65%, 01/25/2023		9,964,000		10,259,296
Credit Suisse AG
6.50%, 08/08/2023 (A)		5,462,000		6,110,613
Credit Suisse Group Funding Guernsey, Ltd.
3.13%, 12/10/2020		10,000,000		10,106,325
Goldman Sachs Group, Inc.
Fixed until 10/31/2021, 2.88% (B), 10/31/2022		20,961,000		21,322,863
Morgan Stanley
2.75%, 05/19/2022		19,925,000		20,350,593
State Street Corp.
3.10%, 05/15/2023		11,076,000		11,546,118
UBS AG
2.20%, 06/08/2020 (A)		11,838,000		11,850,368
UBS Group AG
3.00%, 04/15/2021 (A)		9,354,000		9,497,937
				136,685,503

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chemicals - 1.0%
Huntsman International LLC
5.13%, 11/15/2022		$   6,972,000		$   7,477,495
Mosaic Co.
3.75%, 11/15/2021		12,074,000		12,381,044
Syngenta Finance NV
4.44%, 04/24/2023 (A)		10,000,000		10,564,375
				30,422,914
Commercial Services & Supplies - 0.2%
CK Hutchison International 17 II, Ltd.
2.25%, 09/29/2020 (A)		5,000,000		5,005,072
Construction Materials - 0.4%
CRH America, Inc.
3.88%, 05/18/2025 (A)		10,000,000		10,863,808
Consumer Finance - 3.7%
Ally Financial, Inc.
3.88%, 05/21/2024		4,556,000		4,804,667
4.13%, 02/13/2022		8,145,000		8,440,256
8.00%, 03/15/2020		5,717,000		5,752,731
American Express Co.
2.20%, 10/30/2020		15,217,000		15,253,928
BMW US Capital LLC
3.40%, 08/13/2021 (A)		11,846,000		12,140,460
Capital One Bank USA NA
Fixed until 01/27/2022, 2.01% (B), 01/27/2023		11,306,000		11,342,295
Capital One Financial Corp.
2.40%, 10/30/2020		9,963,000		10,003,088
Daimler Finance North America LLC
3.40%, 02/22/2022 (A)		7,000,000		7,206,077
Ford Motor Credit Co. LLC
3.16%, 08/04/2020		4,600,000		4,625,116
3.34%, 03/18/2021		8,000,000		8,091,078
General Motors Financial Co., Inc.
3.20%, 07/06/2021		3,115,000		3,163,862
3.55%, 07/08/2022		9,957,000		10,278,029
Springleaf Finance Corp.
8.25%, 12/15/2020		6,825,000		7,127,006
Volkswagen Group of America Finance LLC
2.70%, 09/26/2022 (A) (D)		10,000,000		10,168,081
				118,396,674
Containers & Packaging - 0.3%
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
4.25%, 09/15/2022 (A)		3,035,000		3,072,937
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC
5.75%, 10/15/2020		7,063,826		7,080,073
				10,153,010
Diversified Consumer Services - 0.2%
Nationwide Building Society
Fixed until 03/08/2023, 3.77% (B), 03/08/2024 (A)		6,821,000		7,126,636
Diversified Financial Services - 2.2%
Aircastle, Ltd.
5.13%, 03/15/2021 (D)		7,967,000		8,236,273
Aviation Capital Group LLC
2.88%, 01/20/2022 (A)		5,506,000		5,572,545
7.13%, 10/15/2020 (A)		18,266,000		18,907,120

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Financial Services (continued)
Equitable Holdings Inc
3.90%, 04/20/2023		$   12,251,000		$   12,979,386
GE Capital International Funding Unlimited Co.
2.34%, 11/15/2020		5,800,000		5,819,581
Protective Life Global Funding
2.70%, 11/25/2020 (A)		8,378,000		8,438,913
Voya Financial, Inc.
3.13%, 07/15/2024		9,332,000		9,778,204
				69,732,022
Diversified Telecommunication Services - 1.2%
AT&T, Inc.
3.88%, 08/15/2021		15,201,000		15,685,627
British Telecommunications PLC
4.50%, 12/04/2023		5,000,000		5,449,738
Deutsche Telekom International Finance BV
1.95%, 09/19/2021 (A)		9,000,000		9,026,049
Verizon Communications, Inc.
3.50%, 11/01/2024		8,134,000		8,716,323
				38,877,737
Electric Utilities - 2.7%
American Electric Power Co., Inc.
2.95%, 12/15/2022		8,469,000		8,740,434
Appalachian Power Co.
4.60%, 03/30/2021		4,633,000		4,754,647
Berkshire Hathaway Energy Co.
2.38%, 01/15/2021		11,562,000		11,634,199
Duke Energy Corp.
3.05%, 08/15/2022		21,461,000		22,025,215
Entergy Corp.
4.00%, 07/15/2022		8,552,000		8,950,738
Evergy, Inc.
2.45%, 09/15/2024		11,565,000		11,764,318
Metropolitan Edison Co.
3.50%, 03/15/2023 (A)		5,566,000		5,815,166
Southern Co.
2.35%, 07/01/2021		12,232,000		12,320,877
				86,005,594
Equity Real Estate Investment Trusts - 2.0%
American Tower Corp.
3.00%, 06/15/2023		17,032,000		17,621,642
Crown Castle International Corp.
5.25%, 01/15/2023		7,556,000		8,263,888
CyrusOne, LP / CyrusOne Finance Corp.
2.90%, 11/15/2024		4,603,000		4,669,467
Healthpeak Properties, Inc.
3.15%, 08/01/2022		14,125,000		14,512,252
Service Properties Trust
4.35%, 10/01/2024		7,598,000		8,002,621
VEREIT Operating Partnership, LP
4.60%, 02/06/2024		8,370,000		9,134,764
				62,204,634
Food & Staples Retailing - 0.4%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons LLC
3.50%, 02/15/2023 (A) (C)		3,984,000		4,054,437
Sysco Corp.
2.50%, 07/15/2021		9,646,000		9,754,002
				13,808,439

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Food Products - 0.4%
Tyson Foods, Inc.
2.25%, 08/23/2021		$   11,000,000		$   11,082,921
Health Care Equipment & Supplies - 1.1%
Becton Dickinson and Co.
2.89%, 06/06/2022		13,942,000		14,263,337
3-Month LIBOR + 1.03%, 2.92% (B), 06/06/2022		2,726,000		2,746,980
DH Europe Finance II Sarl
2.05%, 11/15/2022		10,888,000		10,970,071
Zimmer Biomet Holdings, Inc.
3.38%, 11/30/2021		8,040,000		8,228,414
				36,208,802
Health Care Providers & Services - 2.5%
Anthem, Inc.
2.50%, 11/21/2020		8,464,000		8,511,842
Cigna Corp.
3-Month LIBOR + 0.89%, 2.72% (B), 07/15/2023		12,689,000		12,843,969
3.90%, 02/15/2022 (A)		9,465,000		9,837,567
CVS Health Corp.
2.13%, 06/01/2021		15,000,000		15,070,478
2.63%, 08/15/2024 (D)		4,979,000		5,100,683
HCA, Inc.
5.00%, 03/15/2024		9,958,000		11,024,543
Laboratory Corp. of America Holdings
2.30%, 12/01/2024		9,959,000		10,094,027
UnitedHealth Group, Inc.
3.50%, 02/15/2024		6,971,000		7,429,931
				79,913,040
Hotels, Restaurants & Leisure - 0.4%
GLP Capital, LP / GLP Financing II, Inc.
3.35%, 09/01/2024		4,479,000		4,636,258
Las Vegas Sands Corp.
3.20%, 08/08/2024		8,963,000		9,252,789
				13,889,047
Household Durables - 0.1%
DR Horton, Inc.
2.55%, 12/01/2020		4,029,000		4,052,110
Independent Power & Renewable Electricity Producers - 0.4%
Exelon Generation Co. LLC
4.00%, 10/01/2020		11,093,000		11,192,509
Industrial Conglomerates - 0.2%
General Electric Co.
3-Month LIBOR + 0.80%, 2.63% (B), 04/15/2020, MTN (D)		5,100,000		5,103,806
Insurance - 2.0%
Aon Corp.
2.20%, 11/15/2022		7,967,000		8,042,336
Athene Global Funding
3.00%, 07/01/2022 (A)		14,168,000		14,512,153
Chubb INA Holdings, Inc.
2.88%, 11/03/2022 (D)		13,275,000		13,670,633
Five Corners Funding Trust
4.42%, 11/15/2023 (A)		8,785,000		9,607,450

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance (continued)
Jackson National Life Global Funding
3.30%, 02/01/2022 (A)		$   9,000,000		$   9,276,230
New York Life Global Funding
2.88%, 04/10/2024 (A) (D)		8,759,000		9,144,110
				64,252,912
Internet & Direct Marketing Retail - 0.3%
Expedia Group, Inc.
4.50%, 08/15/2024		9,959,000		10,793,206
IT Services - 0.4%
Fiserv, Inc.
2.75%, 07/01/2024		13,481,000		13,894,470
Machinery - 0.3%
Caterpillar Financial Services Corp.
1.90%, 09/06/2022, MTN		9,959,000		10,016,138
Media - 1.8%
CCO Holdings LLC / CCO Holdings Capital Corp.
5.25%, 09/30/2022		7,500,000		7,575,000
Charter Communications Operating LLC / Charter Communications Operating Capital
3.58%, 07/23/2020		17,240,000		17,341,730
Comcast Corp.
3.70%, 04/15/2024		10,863,000		11,687,349
CSC Holdings LLC
6.75%, 11/15/2021		8,655,000		9,293,479
Sky, Ltd.
3.13%, 11/26/2022 (A)		6,970,000		7,216,672
Time Warner Cable LLC
4.00%, 09/01/2021		5,256,000		5,392,454
				58,506,684
Metals & Mining - 0.2%
Glencore Funding LLC
3.00%, 10/27/2022 (A)		6,974,000		7,049,552
Multi-Utilities - 1.3%
Black Hills Corp.
4.25%, 11/30/2023		9,898,000		10,616,091
Dominion Energy, Inc.
2.58%, 07/01/2020		5,223,000		5,238,471
2.72% (E), 08/15/2021		7,100,000		7,174,647
DTE Energy Co.
2.53%, 10/01/2024		10,070,000		10,287,521
NiSource, Inc.
3.85%, 02/15/2023		7,343,000		7,698,424
				41,015,154
Oil, Gas & Consumable Fuels - 3.2%
El Paso Natural Gas Co. LLC
8.63%, 01/15/2022		8,935,000		10,043,589
Energy Transfer Operating, LP
4.15%, 10/01/2020		8,000,000		8,086,409
4.20%, 09/15/2023		4,980,000		5,288,652
Eni SpA
4.00%, 09/12/2023 (A)		8,629,000		9,192,627
MPLX, LP
3-Month LIBOR + 0.90%, 2.79% (B), 09/09/2021		7,897,000		7,926,004
4.88%, 12/01/2024		5,661,000		6,229,986
Occidental Petroleum Corp.
2.60%, 08/13/2021		13,935,000		14,080,207

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Plains All American Pipeline, LP / PAA Finance Corp.
4.65%, 10/15/2025		$   5,976,000		$   6,530,293
Sabine Pass Liquefaction LLC
5.63%, 04/15/2023		8,281,000		9,059,414
Total Capital International SA
2.22%, 07/12/2021		8,882,000		8,964,773
Western Midstream Operating, LP
3.10%, 02/01/2025		5,925,000		5,959,602
Williams Cos., Inc.
4.55%, 06/24/2024		7,966,000		8,700,285
YPF SA
8.50%, 03/23/2021 (A)		1,743,000		1,732,891
				101,794,732
Pharmaceuticals - 1.9%
AstraZeneca PLC
2.38%, 11/16/2020 - 06/12/2022		15,024,000		15,214,172
Bayer US Finance LLC
3.00%, 10/08/2021 (A)		7,474,000		7,630,006
Bristol-Myers Squibb Co.
2.90%, 07/26/2024 (A)		8,515,000		8,889,590
Mylan NV
3.15%, 06/15/2021		14,281,000		14,507,439
Takeda Pharmaceutical Co., Ltd.
4.00%, 11/26/2021		14,535,000		15,070,031
				61,311,238
Professional Services - 0.3%
Equifax, Inc.
2.60%, 12/01/2024		8,195,000		8,417,877
Road & Rail - 0.8%
Avolon Holdings Funding, Ltd.
3.63%, 05/01/2022 (A)		12,397,000		12,766,183
Canadian Pacific Railway Co.
9.45%, 08/01/2021		7,000,000		7,762,026
Union Pacific Corp.
3.50%, 06/08/2023		4,457,000		4,706,858
				25,235,067
Semiconductors & Semiconductor Equipment - 0.9%
Broadcom, Inc.
3.13%, 04/15/2021 (A)		11,904,000		12,075,339
KLA Corp.
4.65%, 11/01/2024		8,678,000		9,704,808
QUALCOMM, Inc.
2.60%, 01/30/2023 (D)		5,815,000		5,958,162
				27,738,309
Software - 0.5%
Oracle Corp.
3.88%, 07/15/2020		14,812,000		14,955,750
Technology Hardware, Storage & Peripherals - 0.6%
Dell International LLC / EMC Corp.
4.42%, 06/15/2021 (A)		5,361,000		5,524,494
Hewlett Packard Enterprise Co.
3-Month LIBOR + 0.68%, 2.57% (B), 03/12/2021 (D)		6,896,000		6,928,666
3.50%, 10/05/2021		7,170,000		7,364,027
				19,817,187

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Trading Companies & Distributors - 0.9%
Air Lease Corp.
2.25%, 01/15/2023		$   5,548,000		$   5,595,806
International Lease Finance Corp.
8.25%, 12/15/2020		21,682,000		22,854,284
				28,450,090
Transportation Infrastructure - 0.3%
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.45%, 07/01/2024 (A)		7,966,000		8,407,009
Wireless Telecommunication Services - 0.3%
Vodafone Group PLC
3.75%, 01/16/2024		8,355,000		8,910,036
Total Corporate Debt Securities (Cost $1,923,147,656)				1,964,792,105
FOREIGN GOVERNMENT OBLIGATION - 0.1%
Qatar - 0.1%
Qatar Government International Bond
3.88%, 04/23/2023 (A)		2,175,000		2,300,062
Total Foreign Government Obligation (Cost $2,165,162)				2,300,062
LOAN ASSIGNMENT - 0.4%
Commercial Services & Supplies - 0.4%
Spin Holdco, Inc.
Term Loan B,
3-Month LIBOR + 3.25%, 5.09% (B), 11/14/2022		13,030,226		12,989,506
Total Loan Assignment (Cost $13,002,259)				12,989,506
MORTGAGE-BACKED SECURITIES - 19.7%
20 Times Square Trust
Series 2018-20TS, Class C,
3.20% (B), 05/15/2035 (A)		10,900,000		11,173,313
280 Park Avenue Mortgage Trust
Series 2017-280P, Class C,
1-Month LIBOR + 1.25%, 2.93% (B), 09/15/2034 (A)		17,040,000		17,045,165
Arroyo Mortgage Trust
Series 2018-1, Class A1,
3.76% (B), 04/25/2048 (A)		7,980,276		8,080,938
Ashford Hospitality Trust
Series 2018-ASHF, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 04/15/2035 (A)		17,440,000		17,429,365
Series 2018-ASHF, Class D,
1-Month LIBOR + 2.10%, 3.78% (B), 04/15/2035 (A)		10,520,000		10,523,225
Austin Fairmont Hotel Trust
Series 2019-FAIR, Class D,
1-Month LIBOR + 1.80%, 3.48% (B), 09/15/2032 (A)		5,000,000		5,009,534
BBCMS Mortgage Trust
Series 2017-DELC, Class C,
1-Month LIBOR + 1.20%, 2.88% (B), 08/15/2036 (A)		14,890,000		14,852,471

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
BBCMS Mortgage Trust (continued)
Series 2017-DELC, Class D,
1-Month LIBOR + 1.70%, 3.38% (B), 08/15/2036 (A)		$   15,000,000		$   15,018,580
Series 2018-TALL, Class C,
1-Month LIBOR + 1.12%, 2.80% (B), 03/15/2037 (A)		17,415,000		17,371,222
Series 2018-TALL, Class E,
1-Month LIBOR + 2.44%, 4.11% (B), 03/15/2037 (A)		15,000,000		15,099,127
BHMS Trust
Series 2018-ATLS, Class C,
1-Month LIBOR + 1.90%, 3.58% (B), 07/15/2035 (A)		14,900,000		14,899,803
BX Commercial Mortgage Trust
Series 2019-XL, Class D,
1-Month LIBOR + 1.45%, 3.13% (B), 10/15/2036 (A)		14,100,000		14,156,596
BX Trust
Series 2017-APPL, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2034 (A)		15,300,000		15,309,394
Series 2017-SLCT, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2034 (A)		5,403,565		5,403,488
Series 2018-GW, Class C,
1-Month LIBOR + 1.22%, 2.90% (B), 05/15/2035 (A)		5,480,000		5,478,275
Series 2018-GW, Class D,
1-Month LIBOR + 1.77%, 3.45% (B), 05/15/2035 (A)		4,250,000		4,257,930
BXP Trust
Series 2017-CQHP, Class D,
1-Month LIBOR + 2.00%, 3.68% (B), 11/15/2034 (A)		11,825,000		11,761,421
CAMB Commercial Mortgage Trust
Series 2019-LIFE, Class D,
1-Month LIBOR + 1.75%, 3.43% (B), 12/15/2037 (A)		9,760,000		9,797,095
CCRESG Commercial Mortgage Trust
Series 2016-HEAT, Class B,
4.11%, 04/10/2029 (A)		4,319,000		4,374,261
Series 2016-HEAT, Class C,
4.92%, 04/10/2029 (A)		3,619,000		3,684,259
Series 2016-HEAT, Class D,
5.67% (B), 04/10/2029 (A)		7,290,000		7,429,496
CGMS Commercial Mortgage Trust
Series 2017-MDRB, Class B,
1-Month LIBOR + 1.75%, 3.43% (B), 07/15/2030 (A)		10,000,000		9,990,063
CHT Mortgage Trust
Series 2017-CSMO, Class D,
1-Month LIBOR + 2.25%, 3.93% (B), 11/15/2036 (A)		17,400,000		17,421,642
Citigroup Mortgage Loan Trust, Inc.
Series 2014-A, Class A,
4.00% (B), 01/25/2035 (A)		3,188,995		3,311,241
Series 2018-RP1, Class A1,
3.00% (B), 09/25/2064 (A)		8,775,965		8,942,886

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Colony Mortgage Capital, Ltd.
Series 2019-IKPR, Class C,
1-Month LIBOR + 1.68%, 3.35% (B), 11/15/2038 (A)		$   11,900,000		$   11,833,148
CORE Mortgage Trust
Series 2019-CORE, Class C,
1-Month LIBOR + 1.30%, 2.98% (B), 12/15/2031 (A)		15,390,000		15,389,975
DBCG Mortgage Trust
Series 2017-BBG, Class B,
1-Month LIBOR + 0.85%, 2.53% (B), 06/15/2034 (A)		12,500,000		12,480,419
Series 2017-BBG, Class C,
1-Month LIBOR + 1.00%, 2.68% (B), 06/15/2034 (A)		2,500,000		2,496,086
DBWF Mortgage Trust
Series 2018-GLKS, Class D,
1-Month LIBOR + 2.40%, 4.06% (B), 11/19/2035 (A)		10,000,000		10,031,196
Fontainebleau Miami Beach Trust
Series 2019-FBLU, Class D,
4.10%, 12/10/2036 (A)		14,900,000		15,429,978
GPT Mortgage Trust
Series 2018-GPP, Class D,
1-Month LIBOR + 1.85%, 3.53% (B), 06/15/2035 (A)		2,885,585		2,856,892
Great Wolf Trust
Series 2019-WOLF, Class C,
1-Month LIBOR + 1.63%, 3.31% (B), 12/15/2036 (A)		9,960,000		9,963,080
GS Mortgage Securities Trust
Series 2013-G1, Class A1,
2.06%, 04/10/2031 (A)		4,471,892		4,472,747
Series 2019-SOHO, Class D,
1-Month LIBOR + 1.60%, 3.28% (B), 06/15/2036 (A)		7,500,000		7,481,124
Hilton Orlando Trust
Series 2018-ORL, Class C,
1-Month LIBOR + 1.30%, 2.98% (B), 12/15/2034 (A)		14,000,000		13,999,663
HPLY Trust
Series 2019-HIT, Class C,
1-Month LIBOR + 1.60%, 3.28% (B), 11/15/2036 (A)		8,103,703		8,111,330
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2014-DSTY, Class C,
3.93% (B), 06/10/2027 (A)		10,000,000		8,813,662
Lehman Brothers Small Balance Commercial Mortgage Trust
Series 2005-1A, Class A,
1-Month LIBOR + 0.25%, 2.04% (B), 02/25/2030 (A)		633,729		629,290
MBRT
Series 2019-MBR, Class D,
1-Month LIBOR + 1.70%, 3.44% (B), 11/15/2036 (A)		10,730,000		10,736,429

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Metlife Securitization Trust
Series 2017-1A, Class A,
3.00% (B), 04/25/2055 (A)		$   11,146,547		$   11,374,218
Morgan Stanley Capital I Trust
Series 2017-ASHF, Class D,
1-Month LIBOR + 2.20%, 3.88% (B), 11/15/2034 (A)		15,700,000		15,709,633
Series 2018-SUN, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 07/15/2035 (A)		10,850,000		10,849,964
Series 2019-BPR, Class B,
1-Month LIBOR + 2.10%, 3.78% (B), 05/15/2036 (A)		6,720,000		6,705,490
Series 2019-NUGS, Class B,
1-Month LIBOR + 1.30%, 2.98% (B), 12/15/2036 (A)		7,000,000		6,989,644
Series 2019-NUGS, Class C,
1-Month LIBOR + 1.50%, 3.18% (B), 12/15/2036 (A)		5,200,000		5,195,594
Mortgage Equity Conversion Asset Trust
Series 2010-1A, Class A,
4.00%, 07/25/2060 (A)		4,432,489		4,286,378
Motel 6 Trust
Series 2017-MTL6, Class C,
1-Month LIBOR + 1.40%, 3.08% (B), 08/15/2034 (A)		8,024,479		8,024,406
MSCG Trust
Series 2018-SELF, Class C,
1-Month LIBOR + 1.18%, 2.86% (B), 10/15/2037 (A)		11,780,000		11,779,995
Series 2018-SELF, Class D,
1-Month LIBOR + 1.65%, 3.33% (B), 10/15/2037 (A)		8,820,000		8,842,039
New Residential Mortgage Loan Trust
Series 2014-1A, Class A,
3.75% (B), 01/25/2054 (A)		2,066,926		2,165,802
Series 2014-3A, Class AFX3,
3.75% (B), 11/25/2054 (A)		2,530,656		2,649,574
Series 2016-4A, Class A1,
3.75% (B), 11/25/2056 (A)		4,379,293		4,573,457
Series 2017-3A, Class A1,
4.00% (B), 04/25/2057 (A)		7,755,505		8,156,552
Series 2017-4A, Class A1,
4.00% (B), 05/25/2057 (A)		5,246,020		5,552,310
Series 2017-5A, Class A1,
1-Month LIBOR + 1.50%, 3.16% (B), 06/25/2057 (A)		5,818,772		5,908,246
Series 2018-1A, Class A1A,
4.00% (B), 12/25/2057 (A)		4,804,062		5,026,180
Series 2018-2A, Class A1,
4.50% (B), 02/25/2058 (A)		7,745,671		8,194,452
Series 2018-RPL1, Class A1,
3.50% (B), 12/25/2057 (A)		5,503,036		5,708,640
Series 2019-2A, Class A1,
4.25% (B), 12/25/2057 (A)		10,069,420		10,630,424
Series 2019-3A, Class A1A,
3.75% (B), 11/25/2058 (A)		8,610,617		9,000,775
Series 2019-4A, Class A1B,
3.50% (B), 12/25/2058 (A)		9,930,714		10,301,564
Series 2019-5A, Class A1B,
3.50% (B), 08/25/2059 (A)		13,283,469		13,678,526
Series 2019-RPL2, Class A1,
3.25% (B), 02/25/2059 (A)		9,350,944		9,621,812

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
RBSSP Resecuritization Trust
Series 2013-2, Class 2A1,
1-Month LIBOR + 0.19%, 1.95% (B), 12/20/2036 (A)		$   5,568,403		$   5,553,017
Tharaldson Hotel Portfolio Trust
Series 2018-THL, Class C,
1-Month LIBOR + 1.35%, 3.06% (B), 11/11/2034 (A)		12,151,204		12,158,495
Towd Point Mortgage Trust
Series 2019-4, Class A1,
2.90% (B), 10/25/2059 (A)		14,424,158		14,820,562
Total Mortgage-Backed Securities (Cost $623,279,051)				626,003,558
U.S. GOVERNMENT AGENCY OBLIGATION - 0.0% (F)
Federal Home Loan Mortgage Corp.
12-Month LIBOR + 1.77%, 4.02% (B), 08/01/2037		324,337		342,920
Total U.S. Government Agency Obligation (Cost $328,885)				342,920
	Shares		Value
OTHER INVESTMENT COMPANY - 0.5%
Securities Lending Collateral - 0.5%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (G)		16,678,833		16,678,833
Total Other Investment Company (Cost $16,678,833)				16,678,833
	Principal		Value
REPURCHASE AGREEMENT - 1.3%
Fixed Income Clearing Corp., 0.85% (G), dated 01/31/2020, to be repurchased at $40,126,102 on 02/03/2020. Collateralized by U.S. Government Obligations, 1.13% - 3.00%, due 01/15/2021 - 11/15/2045, and with a total value of $40,926,149.		$  40,123,260		40,123,260
Total Repurchase Agreement (Cost $40,123,260)				40,123,260
Total Investments (Cost $3,119,981,803)				3,170,425,434
Net Other Assets (Liabilities) - 0.2%				6,431,385
Net Assets - 100.0%				$  3,176,856,819

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Short-Term Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(H)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Securities	$	—	$	507,195,190	$	—	$	507,195,190
Corporate Debt Securities		—		1,964,792,105		—		1,964,792,105
Foreign Government Obligation		—		2,300,062		—		2,300,062
Loan Assignment		—		12,989,506		—		12,989,506
Mortgage-Backed Securities		—		626,003,558		—		626,003,558
U.S. Government Agency Obligation		—		342,920		—		342,920
Other Investment Company		16,678,833		—		—		16,678,833
Repurchase Agreement		—		40,123,260		—		40,123,260
Total Investments	$	16,678,833	$	3,153,746,601	$	—	$	3,170,425,434

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $1,566,888,423, representing 49.3% of the Fund’s net assets.
(B)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(D)	All or a portion of the securities are on loan. The total value of all securities on loan is $16,331,031. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(E)	Step bond. Coupon rate changes in increments to maturity. The rate disclosed is as of January 31, 2020; the maturity date disclosed is the ultimate maturity date.
(F)	Percentage rounds to less than 0.1% or (0.1)%.
(G)	Rates disclosed reflect the yields at January 31, 2020.
(H)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTN	Medium Term Note

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Small Cap Core

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.7%
Aerospace & Defense - 0.4%
AAR Corp.		10,650		$  453,477
Air Freight & Logistics - 1.0%
Atlas Air Worldwide Holdings, Inc. (A)		17,900		400,065
Echo Global Logistics, Inc. (A)		21,650		419,577
Hub Group, Inc., Class A (A)		9,250		489,047
				1,308,689
Auto Components - 0.3%
American Axle & Manufacturing Holdings, Inc. (A)		48,310		446,384
Banks - 8.8%
1st Source Corp.		5,445		256,950
Bancorp, Inc. (A)		32,990		390,272
Bank of NT Butterfield & Son, Ltd.		13,485		447,972
Bank OZK		16,710		454,178
Boston Private Financial Holdings, Inc.		41,320		471,048
Cadence BanCorp		28,285		442,095
Cathay General Bancorp		12,870		464,092
CIT Group, Inc.		10,450		477,670
Community Trust Bancorp, Inc.		4,530		198,188
Customers Bancorp, Inc. (A)		20,430		436,793
Eagle Bancorp, Inc.		10,450		456,665
First Financial Corp.		4,715		196,757
First Merchants Corp.		12,155		483,161
Franklin Financial Network, Inc.		7,960		293,485
Great Southern Bancorp, Inc.		3,330		189,510
Heritage Commerce Corp.		33,440		387,904
Hilltop Holdings, Inc.		18,885		427,556
Home BancShares, Inc.		23,500		449,320
Hope Bancorp, Inc.		32,250		448,436
Independent Bank Corp.		12,530		267,891
Peapack Gladstone Financial Corp.		6,915		202,125
Preferred Bank		7,470		449,022
QCR Holdings, Inc.		6,460		265,506
Sandy Spring Bancorp, Inc.		12,735		443,178
Sterling Bancorp		23,370		467,400
Synovus Financial Corp.		13,130		459,813
TriCo Bancshares		8,860		322,504
United Community Banks, Inc.		15,600		435,552
Western Alliance Bancorp		8,405		464,208
				11,149,251
Biotechnology - 3.1%
Anika Therapeutics, Inc. (A)		10,580		434,944
Arena Pharmaceuticals, Inc. (A)		9,775		446,620
Eagle Pharmaceuticals, Inc. (A)		8,040		432,713
Enanta Pharmaceuticals, Inc. (A)		8,370		431,390
Jounce Therapeutics, Inc. (A)		70,055		440,646
Ligand Pharmaceuticals, Inc. (A)		5,385		472,857
Myriad Genetics, Inc. (A)		16,975		469,358
PDL BioPharma, Inc. (A)		118,075		388,467
Vanda Pharmaceuticals, Inc. (A)		32,250		411,187
				3,928,182
Building Products - 0.7%
Builders FirstSource, Inc. (A)		17,905		443,954
Quanex Building Products Corp.		27,575		488,629
				932,583

	Shares		Value
COMMON STOCKS (continued)
Capital Markets - 1.8%
Cowen, Inc., Class A (A)		25,505		$   409,865
Janus Henderson Group PLC		19,490		492,512
Legg Mason, Inc.		12,945		506,797
Virtus Investment Partners, Inc.		4,090		503,193
Waddell & Reed Financial, Inc., Class A		26,655		425,947
				2,338,314
Chemicals - 0.9%
Kraton Corp. (A)		20,145		331,385
Minerals Technologies, Inc.		8,675		469,578
Trinseo SA		12,830		368,478
				1,169,441
Commercial Services & Supplies - 3.5%
ABM Industries, Inc.		12,515		477,322
ACCO Brands Corp.		49,145		424,613
Deluxe Corp.		9,315		448,983
Herman Miller, Inc.		11,810		456,457
HNI Corp.		12,630		454,301
KAR Auction Services, Inc.		22,900		481,358
Matthews International Corp., Class A		12,850		479,562
Pitney Bowes, Inc.		118,200		442,068
R.R. Donnelley & Sons Co.		108,886		261,326
Steelcase, Inc., Class A		25,865		481,348
				4,407,338
Communications Equipment - 0.9%
Comtech Telecommunications Corp.		13,795		398,814
NetScout Systems, Inc. (A)		19,500		501,345
Sierra Wireless, Inc. (A)		27,170		261,647
				1,161,806
Construction & Engineering - 2.2%
AECOM (A)		9,790		472,172
Aegion Corp. (A)		12,525		261,773
EMCOR Group, Inc.		5,515		453,168
Great Lakes Dredge & Dock Corp. (A)		43,130		451,571
MasTec, Inc. (A)		7,830		452,182
Sterling Construction Co., Inc. (A)		18,835		248,151
Tutor Perini Corp. (A)		43,025		484,461
				2,823,478
Consumer Finance - 1.4%
Encore Capital Group, Inc. (A)		13,950		473,603
EZCORP, Inc., Class A (A)		54,070		336,315
Navient Corp.		33,255		478,207
OneMain Holdings, Inc.		10,765		456,113
				1,744,238
Containers & Packaging - 0.3%
Myers Industries, Inc.		20,345		329,182
Diversified Consumer Services - 0.9%
American Public Education, Inc. (A)		9,815		233,891
K12, Inc. (A)		23,247		375,207
Perdoceo Education Corp. (A)		27,700		492,506
				1,101,604
Electric Utilities - 1.2%
Hawaiian Electric Industries, Inc.		10,120		494,969

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Small Cap Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Electric Utilities (continued)
IDACORP, Inc.		4,415		$   495,319
Portland General Electric Co.		8,140		500,610
				1,490,898
Electrical Equipment - 0.7%
Powell Industries, Inc.		10,435		430,652
Regal Beloit Corp.		5,850		458,991
				889,643
Electronic Equipment, Instruments & Components - 4.0%
Avnet, Inc.		11,695		426,750
Badger Meter, Inc.		7,745		457,420
Benchmark Electronics, Inc.		13,435		413,529
Celestica, Inc. (A)		38,880		351,475
Fabrinet (A)		7,340		462,714
Hollysys Automation Technologies, Ltd.		22,315		332,717
Methode Electronics, Inc.		12,525		410,194
OSI Systems, Inc. (A)		4,980		430,969
PC Connection, Inc.		9,840		490,426
Sanmina Corp. (A)		14,035		446,874
TTM Technologies, Inc. (A)		31,240		449,544
Vishay Intertechnology, Inc.		22,295		452,365
				5,124,977
Energy Equipment & Services - 0.9%
Helix Energy Solutions Group, Inc. (A)		50,890		424,422
Matrix Service Co. (A)		19,315		388,618
Nabors Industries, Ltd.		184,600		382,122
				1,195,162
Equity Real Estate Investment Trusts - 5.2%
Apple Hospitality, Inc.		30,210		453,754
Ashford Hospitality Trust, Inc.		76,115		187,243
Brixmor Property Group, Inc.		21,600		431,136
Chatham Lodging Trust		26,990		441,287
DiamondRock Hospitality Co.		45,490		439,888
Diversified Healthcare Trust REIT		61,655		475,977
Hersha Hospitality Trust		32,905		426,778
Industrial Logistics Properties Trust		21,945		502,321
Macerich Co.		17,540		391,317
Office Properties Income Trust		14,383		489,453
Retail Value, Inc.		11,660		383,264
RLJ Lodging Trust		26,555		413,196
Service Properties Trust		20,190		435,700
SITE Centers Corp.		33,450		425,150
Summit Hotel Properties, Inc.		36,940		409,665
Whitestone, REIT		25,150		329,465
				6,635,594
Food & Staples Retailing - 0.8%
Natural Grocers by Vitamin Cottage, Inc.		20,510		185,616
SpartanNash Co.		32,845		400,052
Sprouts Farmers Market, Inc. (A)		27,570		430,919
				1,016,587
Food Products - 0.4%
TreeHouse Foods, Inc. (A)		10,305		459,603
Gas Utilities - 0.3%
National Fuel Gas Co.		9,980		431,036
Health Care Equipment & Supplies - 3.1%
AngioDynamics, Inc. (A)		30,660		422,188
Haemonetics Corp. (A)		3,820		410,230

	Shares		Value
COMMON STOCKS (continued)
Health Care Equipment & Supplies (continued)
Hill-Rom Holdings, Inc.		4,245		$   452,050
Integer Holdings Corp. (A)		5,475		467,565
Meridian Bioscience, Inc.		43,465		427,696
Natus Medical, Inc. (A)		15,115		472,948
NuVasive, Inc. (A)		6,565		506,293
OraSure Technologies, Inc. (A)		51,195		360,925
Orthofix Medical, Inc. (A)		10,290		445,145
				3,965,040
Health Care Providers & Services - 7.4%
Acadia Healthcare Co., Inc. (A)		13,885		446,125
Amedisys, Inc. (A)		2,875		507,409
AMN Healthcare Services, Inc. (A)		7,215		486,147
Brookdale Senior Living, Inc. (A)		62,780		413,720
Chemed Corp.		1,017		474,980
Cross Country Healthcare, Inc. (A)		19,630		194,337
Encompass Health Corp.		6,080		468,342
Ensign Group, Inc.		11,045		499,234
Magellan Health, Inc. (A)		6,325		463,053
MEDNAX, Inc. (A)		18,670		430,717
Molina Healthcare, Inc. (A)		3,460		425,476
National HealthCare Corp.		5,610		470,791
Owens & Minor, Inc.		74,530		466,558
Patterson Cos., Inc.		20,870		459,349
Premier, Inc., Class A (A)		12,720		442,274
Providence Service Corp. (A)		7,370		477,944
Select Medical Holdings Corp. (A)		20,855		476,328
Tenet Healthcare Corp. (A)		12,915		408,631
Tivity Health, Inc. (A)		19,415		420,238
Triple-S Management Corp., Class B (A)		25,375		447,107
US Physical Therapy, Inc.		4,120		482,617
				9,361,377
Health Care Technology - 1.6%
Allscripts Healthcare Solutions, Inc. (A)		47,360		406,349
Computer Programs & Systems, Inc.		12,645		328,770
HealthStream, Inc. (A)		17,565		448,786
HMS Holdings Corp. (A)		16,990		464,167
NextGen Healthcare, Inc. (A)		31,105		431,115
				2,079,187
Hotels, Restaurants & Leisure - 0.4%
Red Robin Gourmet Burgers, Inc. (A)		14,050		461,823
Household Durables - 0.7%
Ethan Allen Interiors, Inc.		27,085		437,423
Universal Electronics, Inc. (A)		9,260		458,648
				896,071
Household Products - 1.0%
Central Garden & Pet Co. (A)		8,425		271,369
Central Garden & Pet Co., Class A (A)		15,865		475,316
Spectrum Brands Holdings, Inc.		8,105		497,728
				1,244,413
Independent Power & Renewable Electricity Producers - 0.4%
Atlantica Yield PLC		17,815		511,736
Insurance - 1.5%
Brighthouse Financial, Inc. (A)		12,030		467,967
CNO Financial Group, Inc.		26,805		471,500
Horace Mann Educators Corp.		10,775		463,433
Mercury General Corp.		9,580		470,282
				1,873,182

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Small Cap Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Interactive Media & Services - 1.1%
Meet Group, Inc. (A)		90,345		$   481,539
TripAdvisor, Inc.		16,500		450,780
Yelp, Inc. (A)		14,400		469,440
				1,401,759
Internet & Direct Marketing Retail - 0.7%
Qurate Retail, Inc., Series A (A)		55,445		472,946
Shutterstock, Inc. (A)		10,765		466,447
				939,393
IT Services - 2.9%
Alliance Data Systems Corp.		4,520		464,611
Cardtronics PLC, Class A (A)		10,385		467,325
CSG Systems International, Inc.		9,550		475,781
KBR, Inc.		17,720		481,984
MAXIMUS, Inc.		6,150		441,262
NIC, Inc.		20,210		398,743
Perficient, Inc. (A)		9,800		487,060
Sykes Enterprises, Inc. (A)		12,518		420,480
				3,637,246
Life Sciences Tools & Services - 1.8%
Bruker Corp.		9,025		446,467
Charles River Laboratories International, Inc. (A)		3,045		470,696
ICON PLC (A)		2,780		468,763
Medpace Holdings, Inc. (A)		5,320		455,126
Syneos Health, Inc. (A)		7,610		466,950
				2,308,002
Machinery - 1.3%
AGCO Corp.		6,585		461,872
Columbus McKinnon Corp.		12,645		442,449
Lydall, Inc. (A)		12,410		253,660
Wabash National Corp.		38,455		446,078
				1,604,059
Marine - 0.3%
Costamare, Inc.		46,955		372,353
Media - 1.3%
AMC Networks, Inc., Class A (A)		11,330		414,565
MSG Networks, Inc., Class A (A)		29,405		447,250
National CineMedia, Inc.		44,595		329,111
News Corp., Class A		35,745		486,847
				1,677,773
Metals & Mining - 2.5%
Eldorado Gold Corp. (A)		67,375		490,490
Haynes International, Inc.		12,000		321,720
Kaiser Aluminum Corp.		4,520		452,678
Materion Corp.		7,860		426,798
SunCoke Energy, Inc.		87,355		513,648
Warrior Met Coal, Inc.		22,100		416,806
Yamana Gold, Inc.		139,690		568,538
				3,190,678
Mortgage Real Estate Investment Trusts - 0.6%
Exantas Capital Corp.		23,225		280,558
Western Asset Mortgage Capital Corp.		46,345		491,720
				772,278

	Shares		Value
COMMON STOCKS (continued)
Multi-Utilities - 0.8%
MDU Resources Group, Inc.		15,735		$   465,913
NorthWestern Corp.		6,575		506,078
				971,991
Multiline Retail - 0.4%
Macy’s, Inc.		30,480		486,156
Oil, Gas & Consumable Fuels - 5.2%
Arch Coal, Inc., Class A		7,670		395,235
Baytex Energy Corp. (A)		307,920		341,791
Consol Energy, Inc. (A)		45,960		373,655
Crescent Point Energy Corp.		128,255		421,959
CVR Energy, Inc.		12,865		445,258
Enerplus Corp.		79,710		406,521
Gulfport Energy Corp. (A)		284,605		441,138
Laredo Petroleum, Inc. (A)		213,855		367,831
Montage Resources Corp. (A) (B)		98,480		359,452
Murphy Oil Corp.		19,100		400,336
Oasis Petroleum, Inc. (A)		170,050		382,613
Peabody Energy Corp.		60,275		407,459
Range Resources Corp.		130,280		390,840
Southwestern Energy Co. (A) (B)		282,960		444,247
Teekay Corp.		86,565		308,171
Tsakos Energy Navigation, Ltd.		93,300		289,230
World Fuel Services Corp.		11,870		464,354
				6,640,090
Paper & Forest Products - 1.6%
Boise Cascade Co.		12,530		453,586
Domtar Corp.		12,545		436,817
P.H. Glatfelter Co.		25,445		424,931
Resolute Forest Products, Inc. (A)		62,865		219,399
Schweitzer-Mauduit International, Inc.		13,000		455,390
				1,990,123
Personal Products - 1.0%
Edgewell Personal Care Co. (A)		17,180		443,588
Nu Skin Enterprises, Inc., Class A		12,420		404,768
USANA Health Sciences, Inc. (A)		6,245		385,316
				1,233,672
Pharmaceuticals - 4.3%
Amneal Pharmaceuticals, Inc. (A)		94,530		424,440
ANI Pharmaceuticals, Inc. (A)		7,760		481,120
Bausch Health Cos., Inc. (A)		16,420		450,401
Corcept Therapeutics, Inc. (A)		35,190		445,857
Endo International PLC (A)		74,830		424,286
Horizon Therapeutics PLC (A)		12,910		445,266
Innoviva, Inc. (A)		35,720		493,115
Lannett Co., Inc. (A)		53,730		437,362
Pacira BioSciences, Inc. (A)		11,100		479,742
Prestige Consumer Healthcare, Inc. (A)		11,645		472,321
Supernus Pharmaceuticals, Inc. (A)		21,160		483,929
Taro Pharmaceutical Industries, Ltd. (A)		5,675		457,802
				5,495,641
Professional Services - 1.6%
Heidrick & Struggles International, Inc.		13,105		372,444
Kelly Services, Inc., Class A		18,645		331,135
Kforce, Inc.		12,350		457,568

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Small Cap Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Professional Services (continued)
ManpowerGroup, Inc.		5,115		$   467,971
TrueBlue, Inc. (A)		20,365		446,197
				2,075,315
Real Estate Management & Development - 0.4%
Realogy Holdings Corp.		48,835		517,163
Road & Rail - 0.6%
ArcBest Corp.		17,226		384,312
Landstar System, Inc.		3,970		439,678
				823,990
Semiconductors & Semiconductor Equipment - 2.0%
Amkor Technology, Inc. (A)		36,590		411,637
Cirrus Logic, Inc. (A)		5,860		450,107
Diodes, Inc. (A)		8,260		426,546
NeoPhotonics Corp. (A)		56,895		434,109
Synaptics, Inc. (A)		6,690		446,156
Xperi Corp.		25,140		404,503
				2,573,058
Software - 1.3%
CommVault Systems, Inc. (A)		10,025		451,326
Nuance Communications, Inc. (A)		24,435		462,310
Synchronoss Technologies, Inc. (A)		70,850		387,195
TiVo Corp.		57,400		417,872
				1,718,703
Specialty Retail - 4.7%
American Eagle Outfitters, Inc.		22,750		327,600
AutoNation, Inc. (A)		7,620		323,393
Buckle, Inc.		12,995		317,208
Cato Corp., Class A		18,795		301,472
Chico’s FAS, Inc.		91,605		356,343
Express, Inc. (A)		81,400		326,414
Foot Locker, Inc.		8,145		309,266
Genesco, Inc. (A)		7,930		311,807
Group 1 Automotive, Inc.		3,600		362,772
Haverty Furniture Cos., Inc.		13,375		269,239
Hibbett Sports, Inc. (A)		13,090		324,370
Lithia Motors, Inc., Class A		2,130		288,913
Michaels Cos., Inc. (A)		53,270		262,621
Office Depot, Inc.		135,590		301,010
Rent-A-Center, Inc.		11,380		331,499
Sally Beauty Holdings, Inc. (A) (B)		19,520		299,632
Signet Jewelers, Ltd.		12,215		296,947
Tilly’s, Inc., Class A		40,340		342,890
Zumiez, Inc. (A)		10,735		334,610
				5,988,006
Technology Hardware, Storage & Peripherals - 1.1%
Diebold Nixdorf, Inc. (A)		46,000		529,460
NCR Corp. (A)		14,325		483,039
Stratasys, Ltd. (A)		21,990		395,380
				1,407,879
Textiles, Apparel & Luxury Goods - 1.0%
Fossil Group, Inc. (A)		59,180		398,281
Ralph Lauren Corp.		4,200		476,700
Steven Madden, Ltd.		10,885		419,726
				1,294,707

	Shares		Value
COMMON STOCKS (continued)
Thrifts & Mortgage Finance - 1.4%
Flagstar Bancorp, Inc.		12,805		$   451,248
MGIC Investment Corp.		33,960		468,308
Radian Group, Inc.		18,210		445,963
Washington Federal, Inc.		13,150		447,100
				1,812,619
Trading Companies & Distributors - 2.0%
BMC Stock Holdings, Inc. (A)		16,635		485,493
Foundation Building Materials, Inc. (A)		25,120		447,890
NOW, Inc. (A)		41,290		413,313
Triton International, Ltd.		12,460		467,873
Veritiv Corp. (A)		18,530		260,902
WESCO International, Inc. (A)		8,825		427,218
				2,502,689
Total Common Stocks (Cost $127,580,269)				124,365,639
OTHER INVESTMENT COMPANY - 0.6%
Securities Lending Collateral - 0.6%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		773,473		773,473
Total Other Investment Company (Cost $773,473)				773,473
	Principal		Value
REPURCHASE AGREEMENT - 3.1%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $3,939,897 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.13%, due 05/31/2021, and with a value of $4,022,692.		$  3,939,618		3,939,618
Total Repurchase Agreement (Cost $3,939,618)				3,939,618
Total Investments (Cost $132,293,360)				129,078,730
Net Other Assets (Liabilities) - (1.4)%				(1,825,597	)
Net Assets - 100.0%				$  127,253,133

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Small Cap Core

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	124,365,639	$	—	$	—	$	124,365,639
Other Investment Company		773,473		—		—		773,473
Repurchase Agreement		—		3,939,618		—		3,939,618
Total Investments	$	125,139,112	$	3,939,618	$	—	$	129,078,730

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $722,922. 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.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Small Cap Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 95.8%
Aerospace & Defense - 4.9%
Axon Enterprise, Inc. (A) (B)		34,290		$  2,633,815
Kratos Defense & Security Solutions, Inc. (A)		153,466		2,814,566
Mercury Systems, Inc. (A)		33,381		2,561,992
				8,010,373
Banks - 3.4%
Banc of California, Inc.		171,211		2,732,528
CenterState Bank Corp.		124,940		2,818,646
				5,551,174
Building Products - 1.5%
Armstrong World Industries, Inc.		24,669		2,475,041
Chemicals - 1.4%
Quaker Chemical Corp. (B)		13,925		2,311,829
Consumer Finance - 1.7%
LendingTree, Inc. (A) (B)		8,909		2,772,481
Diversified Consumer Services - 2.5%
Chegg, Inc. (A)		98,777		4,072,576
Diversified Telecommunication Services - 1.3%
Cogent Communications Holdings, Inc.		28,754		2,039,521
Electronic Equipment, Instruments & Components - 0.9%
nLight, Inc. (A)		80,742		1,418,637
Energy Equipment & Services - 0.9%
Select Energy Services, Inc., Class A (A)		218,970		1,524,031
Food Products - 3.5%
Calavo Growers, Inc.		17,945		1,374,766
J&J Snack Foods Corp.		26,502		4,395,092
				5,769,858
Health Care Equipment & Supplies - 11.0%
CONMED Corp.		24,449		2,485,974
Heska Corp. (A)		20,675		2,071,428
Integer Holdings Corp. (A)		31,400		2,681,560
LeMaitre Vascular, Inc.		78,375		2,820,324
Mesa Laboratories, Inc.		17,372		4,559,108
Neogen Corp. (A)		47,495		3,194,989
				17,813,383
Health Care Providers & Services - 2.2%
BioTelemetry, Inc. (A)		71,915		3,518,082
Health Care Technology - 2.5%
Tabula Rasa HealthCare, Inc. (A) (B)		70,533		4,095,851
Hotels, Restaurants & Leisure - 1.0%
BJ’s Restaurants, Inc.		41,961		1,669,209
Household Durables - 4.2%
Skyline Champion Corp. (A)		160,825		4,623,719
TopBuild Corp. (A)		18,912		2,165,613
				6,789,332

	Shares		Value
COMMON STOCKS (continued)
Insurance - 1.1%
Goosehead Insurance, Inc., Class A (B)		34,967		$   1,824,578
IT Services - 14.1%
Endava PLC, ADR (A) (B)		52,995		2,446,779
Evo Payments, Inc., Class A (A)		158,194		4,383,556
I3 Verticals, Inc., Class A (A)		82,630		2,668,122
MAXIMUS, Inc.		68,456		4,911,718
WNS Holdings, Ltd., ADR (A)		118,519		8,457,516
				22,867,691
Life Sciences Tools & Services - 11.2%
Medpace Holdings, Inc. (A)		50,074		4,283,831
NeoGenomics, Inc. (A)		91,680		2,954,846
PRA Health Sciences, Inc. (A)		48,530		4,916,574
Repligen Corp. (A)		59,948		6,018,180
				18,173,431
Personal Products - 3.2%
Inter Parfums, Inc.		75,909		5,246,071
Road & Rail - 2.1%
Marten Transport, Ltd.		89,104		1,849,799
Saia, Inc. (A)		17,950		1,563,445
				3,413,244
Semiconductors & Semiconductor Equipment - 2.6%
Cabot Microelectronics Corp.		12,172		1,771,148
Silicon Laboratories, Inc. (A)		24,204		2,379,495
				4,150,643
Software - 15.1%
Appfolio, Inc., Class A (A)		18,483		2,429,406
Box, Inc., Class A (A)		123,748		1,859,932
Mimecast, Ltd. (A)		80,724		4,119,346
Pegasystems, Inc.		85,744		7,391,990
Qualys, Inc. (A)		52,510		4,502,207
Workiva, Inc. (A)		94,197		4,285,022
				24,587,903
Textiles, Apparel & Luxury Goods - 1.3%
Steven Madden, Ltd.		56,588		2,182,033
Trading Companies & Distributors - 2.2%
SiteOne Landscape Supply, Inc. (A)		36,930		3,565,591
Total Common Stocks (Cost $115,759,420)				155,842,563
OTHER INVESTMENT COMPANY - 6.7%
Securities Lending Collateral - 6.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		10,929,487		10,929,487
Total Other Investment Company (Cost $10,929,487)				10,929,487

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Small Cap Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
REPURCHASE AGREEMENT - 4.4%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $7,174,858 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $7,319,534.		$  7,174,350		$  7,174,350
Total Repurchase Agreement (Cost $7,174,350)				7,174,350
Total Investments (Cost $133,863,257)				173,946,400
Net Other Assets (Liabilities) - (6.9)%				(11,301,927	)
Net Assets - 100.0%				$  162,644,473

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	155,842,563	$	—	$	—	$	155,842,563
Other Investment Company		10,929,487		—		—		10,929,487
Repurchase Agreement		—		7,174,350		—		7,174,350
Total Investments	$	166,772,050	$	7,174,350	$	—	$	173,946,400

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $10,710,140. 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.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Small Cap Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 97.1%
Auto Components - 2.3%
Stoneridge, Inc. (A)		39,517		$  1,100,944
Visteon Corp. (A)		15,098		1,204,971
				2,305,915
Automobiles - 1.4%
Winnebago Industries, Inc.		26,180		1,433,617
Banks - 17.3%
Amalgamated Bank, Class A		46,362		799,281
Ameris Bancorp		26,165		1,051,572
Associated Banc-Corp.		47,228		941,254
CenterState Bank Corp.		15,529		350,334
ConnectOne Bancorp, Inc.		43,697		1,031,686
Enterprise Financial Services Corp.		23,294		1,013,522
FB Financial Corp.		20,205		720,308
First Bancorp		27,686		982,299
First Interstate BancSystem, Inc., Class A		25,563		984,176
First Midwest Bancorp, Inc.		48,532		967,728
Hancock Whitney Corp.		24,766		984,201
Independent Bank Group, Inc.		4,407		235,863
Pacific Premier Bancorp, Inc.		33,904		1,010,339
Renasant Corp.		28,840		920,861
Simmons First National Corp., Class A		38,729		928,722
Umpqua Holdings Corp.		60,729		1,026,320
Valley National Bancorp		100,136		1,054,432
Veritex Holdings, Inc.		43,900		1,243,248
WesBanco, Inc.		31,694		1,049,705
				17,295,851
Biotechnology - 1.2%
Coherus Biosciences, Inc. (A) (B)		64,441		1,162,516
Chemicals - 1.6%
Livent Corp. (A) (B)		105,530		993,037
Olin Corp.		40,176		597,417
				1,590,454
Commercial Services & Supplies - 2.9%
BrightView Holdings, Inc. (A)		54,616		862,933
Covanta Holding Corp.		71,620		1,072,867
Interface, Inc.		60,973		980,446
				2,916,246
Communications Equipment - 1.1%
Casa Systems, Inc. (A)		114,342		458,512
Plantronics, Inc. (B)		22,406		643,500
				1,102,012
Construction & Engineering - 3.0%
MasTec, Inc. (A)		32,853		1,897,261
Tutor Perini Corp. (A)		101,184		1,139,332
				3,036,593
Consumer Finance - 2.5%
Encore Capital Group, Inc. (A)		35,731		1,213,067
PRA Group, Inc. (A)		36,552		1,292,479
				2,505,546

	Shares		Value
COMMON STOCKS (continued)
Containers & Packaging - 1.2%
Graphic Packaging Holding Co.		79,263		$   1,238,881
Electric Utilities - 1.8%
PNM Resources, Inc.		25,883		1,403,635
Spark Energy, Inc., Class A (B)		46,774		443,885
				1,847,520
Electronic Equipment, Instruments & Components - 0.8%
Sanmina Corp. (A)		24,622		783,964
Energy Equipment & Services - 2.7%
Cactus, Inc., Class A		21,357		615,509
NexTier Oilfield Solutions, Inc. (A)		117,313		604,162
Select Energy Services, Inc., Class A (A)		109,033		758,870
Solaris Oilfield Infrastructure, Inc., Class A (B)		62,371		719,137
				2,697,678
Entertainment - 2.9%
AMC Entertainment Holdings, Inc., Class A (B)		142,107		926,537
IMAX Corp. (A)		52,359		866,018
Lions Gate Entertainment Corp., Class B (A)		117,145		1,092,963
				2,885,518
Equity Real Estate Investment Trusts - 11.2%
Alexander & Baldwin, Inc.		41,726		912,130
Alpine Income Property Trust, Inc. (B)		39,574		752,697
Brandywine Realty Trust		67,470		1,053,881
CatchMark Timber Trust, Inc., Class A		96,275		987,782
Corporate Office Properties Trust		33,777		1,005,541
Front Yard Residential Corp.		63,738		683,909
Industrial Logistics Properties Trust		51,579		1,180,643
Investors Real Estate Trust		11,555		851,604
Jernigan Capital, Inc. (B)		41,322		826,027
Lexington Realty Trust		110,508		1,223,324
Pebblebrook Hotel Trust		35,036		831,054
Physicians Realty Trust		46,955		908,579
				11,217,171
Food Products - 0.4%
B&G Foods, Inc. (B)		27,247		437,587
Health Care Equipment & Supplies - 2.2%
Lantheus Holdings, Inc. (A)		31,143		545,314
Merit Medical Systems, Inc. (A)		44,301		1,613,442
				2,158,756
Health Care Providers & Services - 1.7%
AMN Healthcare Services, Inc. (A)		25,005		1,684,837
Hotels, Restaurants & Leisure - 2.7%
International Game Technology PLC (B)		74,862		1,009,888
Penn National Gaming, Inc. (A)		55,144		1,644,946
				2,654,834
Household Durables - 2.8%
Century Communities, Inc. (A)		58,651		1,740,175
MDC Holdings, Inc.		24,150		1,017,681
				2,757,856
Household Products - 1.0%
Central Garden & Pet Co., Class A (A)		34,944		1,046,922

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Small Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Insurance - 2.8%
Horace Mann Educators Corp.		23,868		$   1,026,563
James River Group Holdings, Ltd.		23,504		1,009,262
Universal Insurance Holdings, Inc.		30,257		736,455
				2,772,280
IT Services - 0.7%
Conduent, Inc. (A)		166,857		714,148
Leisure Products - 1.3%
Callaway Golf Co.		61,187		1,310,626
Machinery - 1.0%
Meritor, Inc. (A)		46,853		1,026,549
Media - 1.8%
Gray Television, Inc. (A)		47,495		963,199
MSG Networks, Inc., Class A (A) (B)		53,401		812,229
				1,775,428
Metals & Mining - 1.2%
Compass Minerals International, Inc. (B)		20,104		1,163,821
Multi-Utilities - 0.8%
NorthWestern Corp.		10,186		784,016
Oil, Gas & Consumable Fuels - 2.3%
Brigham Minerals, Inc., Class A		42,083		715,832
Callon Petroleum Co. (A)		170,236		510,708
Delek US Holdings, Inc.		16,409		450,591
Scorpio Tankers, Inc.		27,098		632,467
				2,309,598
Pharmaceuticals - 1.8%
Corcept Therapeutics, Inc. (A)		56,516		716,058
Prestige Consumer Healthcare, Inc. (A)		26,728		1,084,087
				1,800,145
Real Estate Management & Development - 1.1%
Newmark Group, Inc., Class A		91,390		1,075,660
Road & Rail - 1.9%
Hertz Global Holdings, Inc. (A)		72,646		1,144,901
Ryder System, Inc.		15,080		719,618
				1,864,519
Semiconductors & Semiconductor Equipment - 1.9%
Cohu, Inc.		31,567		706,154
Kulicke & Soffa Industries, Inc.		47,168		1,221,179
				1,927,333
Software - 3.7%
Cerence, Inc. (A)		50,757		1,083,662
Ebix, Inc. (B)		28,785		991,068
TiVo Corp.		89,487		651,465
Zix Corp. (A)		145,421		981,592
				3,707,787
Specialty Retail - 4.2%
Asbury Automotive Group, Inc. (A)		13,252		1,278,156
Caleres, Inc.		53,888		945,734

	Shares		Value
COMMON STOCKS (continued)
Specialty Retail (continued)
MarineMax, Inc. (A)		45,868		$   914,149
Urban Outfitters, Inc. (A)		39,741		1,017,370
				4,155,409
Textiles, Apparel & Luxury Goods - 0.7%
Oxford Industries, Inc.		10,806		749,936
Thrifts & Mortgage Finance - 1.9%
Axos Financial, Inc. (A)		31,747		894,313
OceanFirst Financial Corp.		41,253		959,545
				1,853,858
Trading Companies & Distributors - 3.3%
GMS, Inc. (A)		45,131		1,205,901
Rush Enterprises, Inc., Class A		25,420		1,093,060
Triton International, Ltd.		26,155		982,120
				3,281,081
Total Common Stocks (Cost $92,188,963)				97,032,468
OTHER INVESTMENT COMPANY - 8.1%
Securities Lending Collateral - 8.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		8,045,333		8,045,333
Total Other Investment Company (Cost $8,045,333)				8,045,333
	Principal		Value
REPURCHASE AGREEMENT - 1.6%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $1,559,990 on 02/03/2020. Collateralized by a U.S. Government Obligation, 3.13%, due 05/15/2021, and with a value of $1,592,320.		$  1,559,879		1,559,879
Total Repurchase Agreement (Cost $1,559,879)				1,559,879
Total Investments (Cost $101,794,175)				106,637,680
Net Other Assets (Liabilities) - (6.8)%				(6,768,335	)
Net Assets - 100.0%				$  99,869,345

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Small Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	97,032,468	$	—	$	—	$	97,032,468
Other Investment Company		8,045,333		—		—		8,045,333
Repurchase Agreement		—		1,559,879		—		1,559,879
Total Investments	$	105,077,801	$	1,559,879	$	—	$	106,637,680

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $7,800,120. 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.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Small/Mid Cap Value

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 96.4%
Aerospace & Defense - 1.3%
Aerojet Rocketdyne Holdings, Inc. (A)		54,050		$  2,814,383
Cubic Corp.		40,500		2,644,245
Curtiss-Wright Corp.		17,000		2,472,310
Elbit Systems, Ltd.		16,000		2,437,600
				10,368,538
Airlines - 1.8%
Alaska Air Group, Inc.		116,055		7,495,992
JetBlue Airways Corp. (A)		376,000		7,456,080
				14,952,072
Auto Components - 0.8%
Dana, Inc.		112,300		1,730,543
Gentex Corp.		34,000		1,012,180
Stoneridge, Inc. (A)		59,450		1,656,277
Visteon Corp. (A)		32,050		2,557,911
				6,956,911
Banks - 6.6%
Atlantic Union Bankshares Corp.		53,750		1,810,837
Bank of Princeton		40,800		1,244,400
Berkshire Hills Bancorp, Inc.		99,831		2,810,243
CIT Group, Inc.		131,800		6,024,578
Dime Community Bancshares, Inc.		108,500		2,105,985
Evans Bancorp, Inc.		8,150		318,176
First Citizens BancShares, Inc., Class A		14,963		7,882,808
First Community Bankshares, Inc.		83,000		2,432,730
Hanmi Financial Corp.		73,300		1,232,906
Hope Bancorp, Inc.		119,282		1,658,616
Lakeland Bancorp, Inc.		210,500		3,418,520
People’s United Financial, Inc.		169,900		2,619,858
Sandy Spring Bancorp, Inc.		106,500		3,706,200
Signature Bank		35,100		4,980,339
Sterling Bancorp		143,000		2,860,000
Umpqua Holdings Corp.		157,000		2,653,300
United Community Banks, Inc.		95,500		2,666,360
Washington Trust Bancorp, Inc.		30,421		1,439,826
Webster Financial Corp.		19,600		879,256
Western Alliance Bancorp		38,500		2,126,355
				54,871,293
Beverages - 1.1%
Molson Coors Beverage Co., Class B		159,500		8,865,010
Biotechnology - 0.8%
United Therapeutics Corp. (A) (B)		65,100		6,358,317
Building Products - 1.0%
American Woodmark Corp. (A)		22,900		2,510,985
Gibraltar Industries, Inc. (A)		16,700		910,484
Insteel Industries, Inc.		7,800		174,486
Masonite International Corp. (A)		20,400		1,532,244
PGT Innovations, Inc. (A)		133,000		2,061,500
Quanex Building Products Corp.		50,900		901,948
				8,091,647
Capital Markets - 2.1%
E*TRADE Financial Corp.		148,700		6,337,594
Franklin Resources, Inc.		102,000		2,580,600

	Shares		Value
COMMON STOCKS (continued)
Capital Markets (continued)
Legg Mason, Inc.		73,500		$   2,877,525
Piper Sandler Cos.		36,000		2,967,480
Stifel Financial Corp.		43,400		2,807,546
				17,570,745
Chemicals - 2.5%
Chase Corp.		6,850		629,994
Corteva, Inc. (A)		263,000		7,605,960
Huntsman Corp.		65,000		1,336,400
Methanex Corp.		20,000		649,000
Mosaic Co.		342,700		6,799,168
Trinseo SA		55,450		1,592,524
Westlake Chemical Corp.		34,000		2,080,800
				20,693,846
Commercial Services & Supplies - 0.6%
HNI Corp.		15,000		539,550
Knoll, Inc.		78,500		1,943,660
Tetra Tech, Inc.		30,250		2,589,400
				5,072,610
Communications Equipment - 0.5%
Harmonic, Inc. (A)		159,500		1,122,083
KVH Industries, Inc. (A)		264,000		2,716,560
NETGEAR, Inc. (A)		20,500		527,260
				4,365,903
Construction & Engineering - 1.1%
Comfort Systems USA, Inc.		67,500		3,132,000
EMCOR Group, Inc.		49,850		4,096,174
Granite Construction, Inc. (B)		57,500		1,559,975
				8,788,149
Construction Materials - 0.2%
US Concrete, Inc. (A)		54,050		1,923,640
Consumer Finance - 0.5%
Ally Financial, Inc.		122,605		3,927,038
Distributors - 1.0%
LKQ Corp. (A)		249,400		8,151,639
Diversified Consumer Services - 0.4%
American Public Education, Inc. (A)		79,300		1,889,719
K12, Inc. (A)		101,850		1,643,859
				3,533,578
Diversified Financial Services - 0.9%
Jefferies Financial Group, Inc.		348,353		7,538,359
Diversified Telecommunication Services - 0.7%
GCI Liberty, Inc., Class A (A)		72,800		5,327,504
Electric Utilities - 2.0%
FirstEnergy Corp.		177,100		8,994,909
PPL Corp.		209,600		7,585,424
				16,580,333
Electrical Equipment - 0.7%
Acuity Brands, Inc.		16,350		1,927,175
LSI Industries, Inc.		113,500		754,775
Regal Beloit Corp.		39,300		3,083,478
				5,765,428

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Small/Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Electronic Equipment, Instruments & Components - 0.9%
Coherent, Inc. (A)		5,750		$   813,222
Daktronics, Inc.		21,000		123,900
Methode Electronics, Inc.		88,500		2,898,375
OSI Systems, Inc. (A)		14,900		1,289,446
Vishay Intertechnology, Inc.		125,000		2,536,250
				7,661,193
Energy Equipment & Services - 1.0%
Baker Hughes Co.		287,300		6,222,918
Helmerich & Payne, Inc.		43,700		1,772,035
				7,994,953
Equity Real Estate Investment Trusts - 6.8%
Apple Hospitality, Inc.		201,000		3,019,020
Brandywine Realty Trust		179,500		2,803,790
Chatham Lodging Trust		79,000		1,291,650
Colony Capital, Inc.		826,344		3,859,026
Community Healthcare Trust, Inc.		64,500		3,042,465
DiamondRock Hospitality Co.		294,500		2,847,815
Gaming and Leisure Properties, Inc.		162,000		7,655,310
JBG SMITH Properties		218,500		8,860,175
Lexington Realty Trust		266,500		2,950,155
Outfront Media, Inc.		69,500		2,066,930
Physicians Realty Trust		165,000		3,192,750
Piedmont Office Realty Trust, Inc., Class A		57,800		1,340,382
Sabra Health Care, Inc.		106,300		2,285,450
Summit Hotel Properties, Inc. (B)		281,400		3,120,726
VEREIT, Inc.		824,700		8,049,072
				56,384,716
Food & Staples Retailing - 1.3%
US Foods Holding Corp. (A)		255,700		10,271,469
Village Super Market, Inc., Class A		34,730		773,090
				11,044,559
Food Products - 3.3%
General Mills, Inc.		93,500		4,882,570
J.M. Smucker Co.		48,100		4,983,641
Kraft Heinz Co.		141,900		4,143,480
Post Holdings, Inc. (A)		126,000		13,175,820
Sanderson Farms, Inc.		3,800		523,222
				27,708,733
Gas Utilities - 1.4%
UGI Corp.		277,800		11,553,702
Health Care Equipment & Supplies - 1.7%
AngioDynamics, Inc. (A)		87,100		1,199,367
Meridian Bioscience, Inc.		160,900		1,583,256
OraSure Technologies, Inc. (A)		213,500		1,505,175
Zimmer Biomet Holdings, Inc.		68,400		10,116,360
				14,404,158
Health Care Providers & Services - 4.4%
AmerisourceBergen Corp.		98,100		8,393,436
AMN Healthcare Services, Inc. (A)		39,400		2,654,772
Cardinal Health, Inc.		72,000		3,687,120
Centene Corp. (A)		81,200		5,100,172
Cross Country Healthcare, Inc. (A)		281,300		2,784,870
Encompass Health Corp.		44,250		3,408,577
Laboratory Corp. of America Holdings (A)		61,612		10,806,745
				36,835,692

	Shares		Value
COMMON STOCKS (continued)
Health Care Technology - 0.2%
Omnicell, Inc. (A)		14,350		$   1,166,368
Hotels, Restaurants & Leisure - 1.2%
Aramark		113,200		4,996,648
Bloomin’ Brands, Inc.		61,000		1,266,970
Churchill Downs, Inc.		24,250		3,501,215
Ruth’s Hospitality Group, Inc.		8,200		168,100
				9,932,933
Household Durables - 1.0%
Ethan Allen Interiors, Inc.		89,000		1,437,350
Helen of Troy, Ltd. (A)		17,050		3,223,302
La-Z-Boy, Inc.		68,750		2,106,500
Turtle Beach Corp. (A) (B)		101,200		815,672
ZAGG, Inc. (A) (B)		62,500		472,500
				8,055,324
Household Products - 0.3%
Spectrum Brands Holdings, Inc.		38,250		2,348,933
Insurance - 9.4%
Alleghany Corp. (A)		16,600		13,241,156
Allstate Corp.		75,548		8,955,460
Arch Capital Group, Ltd. (A)		235,600		10,404,096
Fidelity National Financial, Inc.		188,000		9,165,000
Loews Corp.		219,000		11,267,550
Markel Corp. (A)		7,900		9,266,463
Selective Insurance Group, Inc.		63,000		4,173,750
United Fire Group, Inc.		61,018		2,700,657
Willis Towers Watson PLC		41,500		8,768,535
				77,942,667
Internet & Direct Marketing Retail - 1.7%
Expedia Group, Inc.		80,226		8,700,510
Qurate Retail, Inc., Series A (A)		565,800		4,826,274
Revolve Group, Inc. (A) (B)		24,500		435,855
				13,962,639
IT Services - 1.2%
Alliance Data Systems Corp.		37,300		3,834,067
KBR, Inc.		132,500		3,604,000
Leidos Holdings, Inc.		27,200		2,732,784
				10,170,851
Leisure Products - 0.3%
MasterCraft Boat Holdings, Inc. (A)		150,000		2,635,500
Machinery - 2.5%
Altra Industrial Motion Corp.		70,000		2,328,200
Columbus McKinnon Corp.		68,492		2,396,535
Douglas Dynamics, Inc.		37,800		1,981,854
Gencor Industries, Inc. (A)		122,000		1,367,620
Miller Industries, Inc.		12,200		419,802
Mueller Industries, Inc.		83,900		2,447,363
Oshkosh Corp.		14,150		1,217,466
Trinity Industries, Inc.		363,200		7,383,856
Watts Water Technologies, Inc., Class A		12,400		1,236,404
				20,779,100
Media - 6.2%
Discovery, Inc., Class C (A)		181,060		5,028,036
DISH Network Corp., Class A (A)		228,300		8,392,308
Fox Corp., Class A		199,200		7,386,336

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Small/Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Media (continued)
Liberty Media Corp. - Liberty SiriusXM, Class C (A)		131,373		$   6,439,905
MSG Networks, Inc., Class A (A) (B)		206,000		3,133,260
News Corp., Class A		673,000		9,166,260
ViacomCBS, Inc., Class B		342,285		11,682,187
				51,228,292
Metals & Mining - 0.7%
Commercial Metals Co.		140,000		2,877,000
Kaiser Aluminum Corp.		22,650		2,268,398
Schnitzer Steel Industries, Inc., Class A		59,600		958,368
				6,103,766
Mortgage Real Estate Investment Trusts - 1.7%
Annaly Capital Management, Inc.		1,472,642		14,372,986
Multi-Utilities - 2.6%
CenterPoint Energy, Inc.		606,700		16,065,416
NorthWestern Corp.		74,000		5,695,780
				21,761,196
Multiline Retail - 1.4%
Dollar Tree, Inc. (A)		135,200		11,771,864
Oil, Gas & Consumable Fuels - 2.7%
Antero Resources Corp. (A) (B)		857,704		1,586,753
Delek US Holdings, Inc.		69,396		1,905,614
Diamondback Energy, Inc.		15,700		1,168,080
EQT Corp.		430,500		2,604,525
Magnolia Oil & Gas Corp., Class A (A) (B)		233,400		2,455,368
REX American Resources Corp. (A)		28,800		2,170,080
Williams Cos., Inc.		491,800		10,175,342
				22,065,762
Paper & Forest Products - 0.5%
Domtar Corp.		51,200		1,782,784
Mercer International, Inc.		69,500		765,195
P.H. Glatfelter Co.		75,900		1,267,530
				3,815,509
Personal Products - 0.3%
Coty, Inc., Class A		216,900		2,225,394
Pharmaceuticals - 0.9%
BioDelivery Sciences International, Inc. (A)		305,300		1,602,825
Jazz Pharmaceuticals PLC (A)		14,800		2,121,580
Perrigo Co. PLC		67,900		3,873,016
				7,597,421
Professional Services - 1.4%
ASGN, Inc. (A)		47,000		3,181,430
FTI Consulting, Inc. (A)		13,200		1,584,792
Heidrick & Struggles International, Inc.		81,700		2,321,914
ICF International, Inc.		46,100		4,037,899
				11,126,035
Real Estate Management & Development - 0.3%
Newmark Group, Inc., Class A		228,500		2,689,445
Road & Rail - 0.4%
AMERCO		7,900		2,933,033
Semiconductors & Semiconductor Equipment - 3.5%
AXT, Inc. (A)		172,400		672,360

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment (continued)
Brooks Automation, Inc.		41,050		$   1,563,184
Cohu, Inc.		196,249		4,390,090
Entegris, Inc.		58,450		3,025,372
MagnaChip Semiconductor Corp. (A)		185,000		2,488,250
MaxLinear, Inc. (A)		20,000		389,800
MKS Instruments, Inc.		34,700		3,637,254
Qorvo, Inc. (A)		63,174		6,687,600
Silicon Motion Technology Corp., ADR		65,950		3,026,445
Tower Semiconductor, Ltd. (A)		58,710		1,302,188
Universal Display Corp.		10,650		1,876,211
				29,058,754
Software - 1.7%
CDK Global, Inc.		136,100		7,305,848
LogMeIn, Inc.		23,300		2,003,101
SS&C Technologies Holdings, Inc.		77,900		4,908,479
				14,217,428
Specialty Retail - 2.7%
Abercrombie & Fitch Co., Class A		89,500		1,464,220
American Eagle Outfitters, Inc.		193,000		2,779,200
Caleres, Inc.		10,000		175,500
Foot Locker, Inc.		250,750		9,520,977
L Brands, Inc.		164,700		3,814,452
Urban Outfitters, Inc. (A) (B)		97,050		2,484,480
Williams-Sonoma, Inc. (B)		33,400		2,340,672
				22,579,501
Technology Hardware, Storage & Peripherals - 0.6%
NCR Corp. (A)		150,700		5,081,604
Textiles, Apparel & Luxury Goods - 0.9%
Capri Holdings, Ltd. (A)		92,500		2,771,300
Deckers Outdoor Corp. (A)		13,050		2,491,375
Steven Madden, Ltd.		65,500		2,525,680
				7,788,355
Thrifts & Mortgage Finance - 1.0%
OceanFirst Financial Corp.		37,300		867,598
Provident Financial Services, Inc.		81,500		1,859,015
TrustCo Bank Corp.		195,200		1,547,936
Washington Federal, Inc.		124,400		4,229,600
				8,504,149
Trading Companies & Distributors - 1.7%
AerCap Holdings NV (A)		134,972		7,640,765
HD Supply Holdings, Inc. (A)		165,400		6,738,396
				14,379,161
Total Common Stocks (Cost $673,733,210)				799,584,236
OTHER INVESTMENT COMPANY - 1.8%
Securities Lending Collateral - 1.8%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (C)		14,662,712		14,662,712
Total Other Investment Company (Cost $14,662,712)				14,662,712

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Small/Mid Cap Value

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
REPURCHASE AGREEMENT - 3.6%
Fixed Income Clearing Corp., 0.85% (C), dated 01/31/2020, to be repurchased at $30,129,535 on 02/03/2020. Collateralized by U.S. Government Obligations, 2.63%, due 06/15/2021, and with a total value of $30,736,924.		$  30,127,401		$   30,127,401
Total Repurchase Agreement (Cost $30,127,401)				30,127,401
Total Investments (Cost $718,523,323)				844,374,349
Net Other Assets (Liabilities) - (1.8)%				(14,591,876	)
Net Assets - 100.0%				$  829,782,473

SECURITY VALUATION:

Valuation Inputs ^(D)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	799,584,236	$	—	$	—	$	799,584,236
Other Investment Company		14,662,712		—		—		14,662,712
Repurchase Agreement		—		30,127,401		—		30,127,401
Total Investments	$	814,246,948	$	30,127,401	$	—	$	844,374,349

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	All or a portion of the securities are on loan. The total value of all securities on loan is $14,187,220. 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.
(C)	Rates disclosed reflect the yields at January 31, 2020.
(D)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

PORTFOLIO ABBREVIATION:

ADR American Depositary Receipt

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Total Return

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 12.9%
ABFC Trust
Series 2004-OPT4, Class A1,
1-Month LIBOR + 0.62%, 2.28% (A), 04/25/2034		$  112,811		$  112,960
Series 2004-OPT5, Class A1,
1-Month LIBOR + 0.70%, 2.36% (A), 06/25/2034		159,198		158,980
Ally Auto Receivables Trust
Series 2018-3, Class A2,
2.72%, 05/17/2021		10,850		10,853
Aurium CLO
Series 2A, Class AR,
3-Month EURIBOR + 0.68%, 0.68% (A), 10/13/2029 (B)		EUR  1,900,000		2,108,418
B&M CLO, Ltd.
Series 2014-1A, Class A1R,
3-Month LIBOR + 0.73%, 2.57% (A), 04/16/2026 (B)		$  210,305		210,437
Barings Euro CLO
Series 2016-1A, Class A1R,
3-Month EURIBOR + 0.68%, 0.68% (A), 07/27/2030 (B)		EUR  1,900,000		2,108,530
Bear Stearns Asset-Backed Securities I Trust
Series 2005-AQ1, Class M2,
1-Month LIBOR + 0.65%, 2.31% (A), 03/25/2035		$  957,423		962,120
Series 2006-HE1, Class 1M2,
1-Month LIBOR + 0.43%, 2.09% (A), 12/25/2035		3,798,220		3,803,055
Series 2006-HE1, Class 2M2,
1-Month LIBOR + 0.43%, 2.44% (A), 02/25/2036		837,093		836,704
Series 2006-HE10, Class 21A3,
1-Month LIBOR + 0.24%, 1.90% (A), 12/25/2036		2,705,849		2,395,776
Series 2007-AQ1, Class A1,
1-Month LIBOR + 0.11%, 1.77% (A), 04/25/2031		106,517		169,390
Bear Stearns Asset-Backed Securities Trust
Series 2002-2, Class A1,
1-Month LIBOR + 0.66%, 2.32% (A), 10/25/2032		2,940		2,946
C-BASS Trust
Series 2007-CB1, Class AF1A,
1-Month LIBOR + 0.07%, 1.73% (A), 01/25/2037		317,538		142,260
CIFC Funding, Ltd.
Series 2015-5A, Class A1R,
3-Month LIBOR + 0.86%, 2.65% (A), 10/25/2027 (B)		1,900,000		1,900,224
Citigroup Mortgage Loan Trust Asset-Backed Pass-Through Certificate
Series 2004-OPT1, Class M3,
1-Month LIBOR + 0.95%, 2.61% (A), 10/25/2034		1,600,000		1,601,251

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Citigroup Mortgage Loan Trust, Inc.
Series 2007-FS1, Class 1A1,
4.56% (A), 10/25/2037 (B)		$   713,771		$   736,988
Countrywide Asset-Backed Certificates
Series 2006-15, Class A6,
4.59% (A), 10/25/2046		555,403		542,921
Series 2006-2, Class M1,
1-Month LIBOR + 0.40%, 2.06% (A), 06/25/2036		400,000		397,800
Series 2006-26, Class 2A3,
1-Month LIBOR + 0.17%, 1.83% (A), 06/25/2037		299,730		299,534
Credit Acceptance Auto Loan Trust
Series 2018-2A, Class A,
3.47%, 05/17/2027 (B)		2,000,000		2,027,790
CVP Cascade CLO, Ltd.
Series 2013-CLO1, Class A1R,
3-Month LIBOR + 1.15%, 2.99% (A), 01/16/2026 (B)		269,008		269,517
CWABS, Inc. Asset-Backed Certificates Trust
Series 2005-17, Class MV1,
1-Month LIBOR + 0.46%, 2.12% (A), 05/25/2036		1,500,000		1,485,759
Series 2006-14, Class 1A,
1-Month LIBOR + 0.14%, 1.80% (A), 02/25/2037		820,219		777,320
Denali Capital CLO X LLC
Series 2013-1A, Class A1LR,
3-Month LIBOR + 1.05%, 2.84% (A), 10/26/2027 (B)		1,200,000		1,200,343
Dorchester Park CLO DAC
Series 2015-1A, Class AR,
3-Month LIBOR + 0.90%, 2.72% (A), 04/20/2028 (B)		1,800,000		1,802,124
Dryden XXV Senior Loan Fund
Series 2012-25A, Class ARR,
3-Month LIBOR + 0.90%, 2.73% (A), 10/15/2027 (B)		1,571,279		1,571,723
Evergreen Credit Card Trust
Series 2019-2, Class A,
1.90%, 09/15/2024 (B)		2,000,000		2,014,296
Figueroa CLO, Ltd.
Series 2013-2A, Class A1RR,
3-Month LIBOR + 0.85%, 2.76% (A), 06/20/2027 (B)		1,214,176		1,214,557
First Franklin Mortgage Loan Trust
Series 2004-FFH3, Class M2,
1-Month LIBOR + 0.93%, 2.59% (A), 10/25/2034		1,383,804		1,376,398
Flagship CLO VIII, Ltd.
Series 2014-8A, Class ARR,
3-Month LIBOR + 0.85%, 2.69% (A), 01/16/2026 (B)		1,033,283		1,033,798
Home Equity Asset Trust
Series 2002-1, Class A4,
1-Month LIBOR + 0.60%, 2.26% (A), 11/25/2032		1,026		993

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Home Equity Mortgage Loan Asset-Backed Trust
Series 2007-A, Class 1A,
1-Month LIBOR + 0.22%, 1.88% (A), 04/25/2037		$   428,988		$   334,468
ICG CLO, Ltd.
Series 2015-2A, Class AR,
3-Month LIBOR + 0.85%, 2.69% (A), 01/16/2028 (B)		1,900,000		1,900,346
JMP Credit Advisors CLO IIIR, Ltd.
Series 2014-1RA, Class A,
3-Month LIBOR + 0.85%, 2.69% (A), 01/17/2028 (B)		2,000,000		2,000,242
JPMorgan Mortgage Acquisition Trust
Series 2007-CH3, Class A5,
1-Month LIBOR + 0.26%, 1.92% (A), 03/25/2037		3,500,000		3,430,718
KVK CLO, Ltd.
Series 2013-1A, Class AR,
3-Month LIBOR + 0.90%, 2.74% (A), 01/14/2028 (B)		1,500,000		1,500,357
LoanCore Issuer, Ltd.
Series 2018-CRE1, Class A,
1-Month LIBOR + 1.13%, 2.81% (A), 05/15/2028 (B)		1,600,000		1,601,000
LP Credit Card ABS Master Trust
Series 2018-1, Class A,
1-Month LIBOR + 1.55%, 3.82% (A), 08/20/2024 (B)		1,561,691		1,546,431
Merrill Lynch Mortgage Investors Trust
Series 2006-FM1, Class A2C,
1-Month LIBOR + 0.16%, 1.82% (A), 04/25/2037		1,663,949		995,471
Morgan Stanley Mortgage Loan Trust
Series 2007-10XS, Class A1,
6.00% (A), 02/25/2037		126,242		99,193
Series 2007-8XS, Class A1,
5.75% (A), 04/25/2037		183,551		123,784
Mountain Hawk III CLO, Ltd.
Series 2014-3A, Class AR,
3-Month LIBOR + 1.20%, 3.02% (A), 04/18/2025 (B)		369,134		369,572
Mountain View CLO, Ltd.
Series 2014-1A, Class ARR,
3-Month LIBOR + 0.80%, 2.63% (A), 10/15/2026 (B)		1,449,365		1,449,776
Navient Private Education Loan Trust
Series 2018-CA, Class A1,
3.01%, 06/16/2042 (B)		492,329		494,232
New Century Home Equity Loan Trust
Series 2006-1, Class A2B,
1-Month LIBOR + 0.18%, 1.84% (A), 05/25/2036		56,181		53,176
Octagon Investment Partners XIX, Ltd.
Series 2014-1A, Class AR,
3-Month LIBOR + 1.10%, 2.93% (A), 04/15/2026 (B)		227,218		227,677

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Octagon Investment Partners XXIII, Ltd.
Series 2015-1A, Class A1R,
3-Month LIBOR + 0.85%, 2.68% (A), 07/15/2027 (B)		$   1,000,000		$   999,032
Option One Mortgage Loan Trust
Series 2007-4, Class 2A4,
1-Month LIBOR + 0.31%, 1.97% (A), 04/25/2037		4,073,064		2,887,987
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates
Series 2005-WCW2, Class M2,
1-Month LIBOR + 0.80%, 2.46% (A), 07/25/2035		500,000		502,720
Popular ABS Mortgage Pass-Through Trust
Series 2006-A, Class M1,
1-Month LIBOR + 0.39%, 2.05% (A), 02/25/2036		405,508		404,577
Securitized Asset-Backed Receivables LLC Trust
Series 2007-HE1, Class A2A,
1-Month LIBOR + 0.06%, 1.72% (A), 12/25/2036		61,357		19,100
SLM Student Loan Trust
Series 2005-4, Class A3,
3-Month LIBOR + 0.12%, 1.91% (A), 01/25/2027		806,735		799,540
Sofi Consumer Loan Program LLC
Series 2016-3, Class A,
3.05%, 12/26/2025 (B)		158,409		158,741
Sofi Professional Loan Program Trust
Series 2018-B, Class A1FX,
2.64%, 08/25/2047 (B)		370,694		371,201
Sound Point CLO, Ltd.
Series 2015-3A, Class AR,
3-Month LIBOR + 0.89%, 2.71% (A), 01/20/2028 (B)		1,800,000		1,800,310
Specialty Underwriting & Residential Finance Trust
Series 2004-BC2, Class M1,
1-Month LIBOR + 0.83%, 2.49% (A), 05/25/2035		1,975,409		1,981,418
Structured Asset Securities Corp. Mortgage Loan Trust
Series 2006-BC1, Class A6,
1-Month LIBOR + 0.27%, 1.93% (A), 03/25/2036		880,885		807,535
Sudbury Mill CLO, Ltd.
Series 2013-1A, Class A1R,
3-Month LIBOR + 1.15%, 2.99% (A), 01/17/2026 (B)		608,647		610,883
Series 2013-1A, Class A2R,
3-Month LIBOR + 1.17%, 3.01% (A), 01/17/2026 (B)		608,647		608,311
Telos CLO, Ltd.
Series 2014-5A, Class A1R,
3-Month LIBOR + 0.95%, 2.79% (A), 04/17/2028 (B)		1,898,153		1,895,755
Tralee CLO, Ltd.
Series 2018-5A, Class A1,
3-Month LIBOR + 1.11%, 2.93% (A), 10/20/2028 (B)		2,300,000		2,301,286

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Trillium Credit Card Trust II
Series 2018-1A, Class A,
1-Month LIBOR + 0.25%, 1.91% (A), 02/27/2023 (B)		$   2,600,000		$   2,600,376
U.S. Small Business Administration
Series 2003-20I, Class 1,
5.13%, 09/01/2023		3,280		3,403
Series 2004-20C, Class 1,
4.34%, 03/01/2024		30,878		31,873
Venture XII CLO, Ltd.
Series 2012-12A, Class ARR,
3-Month LIBOR + 0.80%, 2.71% (A), 02/28/2026 (B)		1,476,497		1,476,586
Wells Fargo Home Equity Asset-Backed Securities Trust
Series 2005-4, Class M2,
1-Month LIBOR + 0.48%, 2.14% (A), 12/25/2035		6,500,000		6,532,594
Westlake Automobile Receivables Trust
Series 2018-3A, Class A2A,
2.98%, 01/18/2022 (B)		802,784		805,007
WhiteHorse X, Ltd.
Series 2015-10A, Class A1R,
3-Month LIBOR + 0.93%, 2.77% (A), 04/17/2027 (B)		1,036,128		1,036,761
Total Asset-Backed Securities (Cost $71,499,351)				78,037,204
CERTIFICATE OF DEPOSIT - 0.6%
Banks - 0.6%
Barclays Bank PLC
3-Month LIBOR + 0.45%, 2.28% (A), 10/15/2020		3,800,000		3,800,000
Total Certificate of Deposit (Cost $3,800,000)				3,800,000
CORPORATE DEBT SECURITIES - 52.6%
Aerospace & Defense - 0.6%
Textron, Inc.
3-Month LIBOR + 0.55%, 2.45% (A), 11/10/2020		1,500,000		1,500,077
United Technologies Corp.
3.65%, 08/16/2023		1,900,000		2,022,020
				3,522,097
Airlines - 0.6%
Delta Air Lines, Inc.
2.60%, 12/04/2020		2,200,000		2,213,624
Latam Airlines Pass-Through Trust
4.20%, 08/15/2029		1,171,026		1,208,515
				3,422,139
Automobiles - 0.3%
BMW Finance NV
2.25%, 08/12/2022 (B)		1,700,000		1,724,491
Banks - 12.4%
AIB Group PLC
4.75%, 10/12/2023 (B)		1,900,000		2,063,196

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Bank of America Corp.
3-Month LIBOR + 0.79%, 2.68% (A), 03/05/2024, MTN		$   1,000,000		$   1,006,967
Fixed until 12/20/2022, 3.00% (A), 12/20/2023		4,319,000		4,448,711
Fixed until 05/17/2021, 3.50% (A), 05/17/2022, MTN		2,000,000		2,045,016
Banque Federative du Credit Mutuel SA
3-Month LIBOR + 0.96%, 2.78% (A), 07/20/2023 (B)		2,200,000		2,236,569
Barclays Bank PLC
7.63%, 11/21/2022		3,900,000		4,398,303
10.18%, 06/12/2021 (B)		1,840,000		2,036,129
Barclays PLC
Fixed until 10/06/2022, 2.38% (A), 10/06/2023, MTN (C)		GBP  600,000		808,045
3.68%, 01/10/2023		$ 1,100,000		1,132,017
BBVA USA
3-Month LIBOR + 0.73%, 2.62% (A), 06/11/2021		1,800,000		1,805,676
3.50%, 06/11/2021		1,800,000		1,837,589
Citigroup, Inc.
2.75%, 04/25/2022		1,700,000		1,731,030
3-Month LIBOR + 1.43%, 3.34% (A), 09/01/2023		500,000		511,488
Cooperatieve Rabobank UA
6.88%, 03/19/2020 (C)		EUR  500,000		558,679
Discover Bank
4.20%, 08/08/2023		$  1,800,000		1,928,191
HSBC Holdings PLC
3-Month LIBOR + 0.60%, 2.50% (A), 05/18/2021		1,600,000		1,602,085
Fixed until 07/04/2029 (D), 4.75% (A), MTN (C)		EUR  1,400,000		1,762,280
ING Groep NV
4.10%, 10/02/2023		$  2,100,000		2,253,354
Intesa Sanpaolo SpA
3.25%, 09/23/2024 (B)		1,500,000		1,532,376
JPMorgan Chase & Co.
2.40%, 06/07/2021		1,500,000		1,514,091
3-Month LIBOR + 0.90%, 2.69% (A), 04/25/2023		1,700,000		1,718,781
Fixed until 07/23/2023, 3.80% (A), 07/23/2024		1,800,000		1,912,759
Lloyds Bank PLC
3.30%, 05/07/2021		1,400,000		1,428,480
Lloyds Banking Group PLC
4.00%, 03/07/2025, MTN		AUD  2,000,000		1,456,183
Fixed until 06/27/2023 (D), 7.63% (A) (C)		GBP  700,000		1,038,738
Mitsubishi UFJ Financial Group, Inc.
3.46%, 03/02/2023		$  1,600,000		1,675,402
3-Month LIBOR + 1.88%, 3.79% (A), 03/01/2021		658,000		669,664
Mizuho Financial Group, Inc.
Fixed until 09/11/2023, 3.92% (A), 09/11/2024		2,100,000		2,225,774
National Australia Bank, Ltd.
3.63%, 06/20/2023 (E)		1,900,000		2,005,662
NatWest Markets PLC
0.63%, 03/02/2022, MTN (C)		EUR  1,700,000		1,909,657
Royal Bank of Scotland Group PLC
Fixed until 08/10/2020 (D), 7.50% (A)		$  1,800,000		1,841,400
Santander PLC
3.75%, 11/15/2021		2,200,000		2,276,066
Skandinaviska Enskilda Banken AB
3-Month LIBOR + 0.43%, 2.33% (A), 05/17/2021 (B)		1,600,000		1,604,458
3.25%, 05/17/2021 (B)		1,600,000		1,630,074

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Societe Generale SA
4.25%, 09/14/2023 (B)		$   1,800,000		$   1,922,387
Standard Chartered PLC
Fixed until 01/20/2022, 4.25% (A), 01/20/2023 (B)		1,900,000		1,971,114
Synchrony Bank
3.65%, 05/24/2021		1,700,000		1,737,137
UniCredit SpA
7.83%, 12/04/2023 (B)		4,100,000		4,834,023
Wells Fargo & Co.
2.63%, 07/22/2022, MTN		2,300,000		2,345,475
3-Month LIBOR + 3.77%, 5.66% (A), 03/15/2020 (D)		1,828,000		1,839,516
				75,254,542
Beverages - 0.9%
Bacardi, Ltd.
4.45%, 05/15/2025 (B)		1,200,000		1,321,257
Keurig Dr. Pepper, Inc.
4.06%, 05/25/2023		1,700,000		1,814,695
Pernod Ricard SA
4.25%, 07/15/2022 (B)		700,000		741,538
Suntory Holdings, Ltd.
2.55%, 06/28/2022 (B)		1,600,000		1,619,937
				5,497,427
Biotechnology - 0.2%
AbbVie, Inc.
2.50%, 05/14/2020		1,253,000		1,254,534
Capital Markets - 4.6%
Credit Suisse Group AG
3-Month LIBOR + 1.24%, 3.13% (A), 06/12/2024 (B)		1,800,000		1,831,241
Fixed until 12/18/2024 (D), 6.25% (A) (B)		400,000		440,978
Credit Suisse Group Funding Guernsey, Ltd.
3.13%, 12/10/2020		1,400,000		1,414,886
3.80%, 09/15/2022 - 06/09/2023		2,700,000		2,842,693
Deutsche Bank AG
3-Month EURIBOR + 0.50%, 0.11% (A), 12/07/2020, MTN (C)		EUR  1,400,000		1,551,427
2.70%, 07/13/2020		$  1,500,000		1,502,886
3.95%, 02/27/2023		1,900,000		1,971,878
4.25%, 02/04/2021 - 10/14/2021		4,600,000		4,716,204
Goldman Sachs Group, Inc.
3-Month LIBOR + 1.17%, 3.08% (A), 05/15/2026		1,600,000		1,628,179
3-Month LIBOR + 1.20%, 3.09% (A), 09/15/2020		1,600,000		1,609,325
3.20%, 02/23/2023		1,000,000		1,037,404
Morgan Stanley
Fixed until 04/24/2023, 3.74% (A), 04/24/2024		400,000		422,306
UBS AG
7.63%, 08/17/2022		600,000		677,412
UBS Group AG
3.00%, 04/15/2021 (B)		3,800,000		3,858,473
4.13%, 09/24/2025 (B)		2,200,000		2,428,645
				27,933,937

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chemicals - 0.7%
Syngenta Finance NV
3.70%, 04/24/2020 (B)		$   1,700,000		$   1,703,526
3.93%, 04/23/2021 (B)		1,200,000		1,224,996
5.18%, 04/24/2028 (B)		1,300,000		1,459,701
				4,388,223
Construction & Engineering - 0.1%
Odebrecht Offshore Drilling Finance, Ltd.
6.72%, 12/01/2022 (B)		426,387		422,123
PIK Rate 1.00%, Cash Rate 6.72%, 12/01/2026 (B) (F)		1,892,624		463,693
Odebrecht Oil & Gas Finance, Ltd.
Zero Coupon, 03/02/2020 (B) (D)		266,175		1,996
				887,812
Consumer Finance - 4.6%
American Express Co.
3.40%, 02/27/2023		1,900,000		1,989,329
Capital One Financial Corp.
4.25%, 04/30/2025		1,500,000		1,654,864
Daimler Finance North America LLC
2.55%, 08/15/2022 (B)		2,100,000		2,128,247
3.35%, 05/04/2021 (B)		1,600,000		1,628,687
3.40%, 02/22/2022 (B)		2,200,000		2,264,767
Ford Motor Credit Co. LLC
3-Month LIBOR + 0.93%, 2.86% (A), 09/24/2020, MTN		2,600,000		2,604,962
3-Month LIBOR + 1.24%, 3.14% (A), 02/15/2023		1,200,000		1,185,674
5.88%, 08/02/2021		900,000		944,606
General Motors Financial Co., Inc.
3-Month LIBOR + 0.54%, 2.45% (A), 11/06/2020		1,300,000		1,301,381
2.45%, 11/06/2020		1,900,000		1,906,817
3-Month LIBOR + 0.93%, 2.78% (A), 04/13/2020		1,700,000		1,702,703
3.20%, 07/13/2020		1,500,000		1,506,522
Harley-Davidson Financial Services, Inc.
3.55%, 05/21/2021 (B)		1,700,000		1,734,958
Navient Corp.
5.00%, 10/26/2020		900,000		912,600
Nissan Motor Acceptance Corp.
2.60%, 09/28/2022 (B)		500,000		505,266
3-Month LIBOR + 0.69%, 2.65% (A), 09/28/2022 (B)		300,000		299,980
Springleaf Finance Corp.
7.75%, 10/01/2021		200,000		215,254
8.25%, 12/15/2020		1,200,000		1,253,100
Volkswagen Group of America Finance LLC
3-Month LIBOR + 0.77%, 2.67% (A), 11/13/2020 (B)		1,900,000		1,908,562
				27,648,279
Diversified Financial Services - 4.0%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
4.13%, 07/03/2023		1,800,000		1,912,992
5.00%, 10/01/2021		1,800,000		1,888,761
Aviation Capital Group LLC
2.88%, 01/20/2022 (B)		7,200,000		7,287,018
4.13%, 08/01/2025 (B)		1,400,000		1,492,818
BGC Partners, Inc.
5.38%, 07/24/2023		1,500,000		1,618,815
GE Capital Funding Unlimited Co.
5.88%, 11/04/2020, MTN		GBP  1,000,000		1,365,616

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Financial Services (continued)
SMBC Aviation Capital Finance DAC
3.00%, 07/15/2022 (B)		$  1,600,000		$   1,637,534
4.13%, 07/15/2023 (B)		1,800,000		1,916,194
Tayarra, Ltd.
3.63%, 02/15/2022		1,867,796		1,905,157
Washington Prime Group, LP
6.45%, 08/15/2024 (E)		3,800,000		3,385,154
				24,410,059
Diversified Telecommunication Services - 2.2%
AT&T, Inc.
3-Month LIBOR + 0.95%, 2.78% (A), 07/15/2021		1,500,000		1,515,812
3-Month LIBOR + 1.18%, 3.07% (A), 06/12/2024		1,800,000		1,832,091
Deutsche Telekom International Finance BV
1.95%, 09/19/2021 (B)		1,600,000		1,604,631
Telstra Corp., Ltd.
4.80%, 10/12/2021 (B)		1,800,000		1,888,080
United Group BV
4.38%, 07/01/2022 (B)		EUR  1,300,000		1,470,816
Verizon Communications, Inc.
3.38%, 02/15/2025		$  4,590,000		4,903,294
				13,214,724
Electric Utilities - 2.4%
Duke Energy Corp.
3-Month LIBOR + 0.50%, 2.41% (A), 05/14/2021 (B)		1,700,000		1,707,895
3.55%, 09/15/2021		1,100,000		1,128,069
Evergy, Inc.
2.45%, 09/15/2024		1,600,000		1,627,575
FirstEnergy Corp.
2.85%, 07/15/2022		1,500,000		1,532,527
NextEra Energy Capital Holdings, Inc.
1.95%, 09/01/2022		1,600,000		1,603,541
3-Month LIBOR + 0.72%, 2.63% (A), 02/25/2022 (E)		1,800,000		1,812,465
3.20%, 02/25/2022		1,500,000		1,542,249
Oncor Electric Delivery Co. LLC
4.10%, 06/01/2022		1,500,000		1,574,092
PPL Capital Funding, Inc.
3.50%, 12/01/2022		2,000,000		2,072,936
				14,601,349
Entertainment - 0.3%
Activision Blizzard, Inc.
2.30%, 09/15/2021		1,600,000		1,613,050
Equity Real Estate Investment Trusts - 3.2%
American Tower Corp.
2.40%, 03/15/2025		1,800,000		1,823,611
3.38%, 05/15/2024		2,200,000		2,311,710
AvalonBay Communities, Inc.
3.50%, 11/15/2024, MTN		1,595,000		1,717,690
Boston Properties, LP
3.40%, 06/21/2029		1,600,000		1,723,392
Crown Castle International Corp.
3.40%, 02/15/2021		1,850,000		1,876,111
3.70%, 06/15/2026		1,700,000		1,835,832
4.88%, 04/15/2022		900,000		957,012
Digital Realty Trust, LP
2.75%, 02/01/2023		1,400,000		1,429,145

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Equity Real Estate Investment Trusts (continued)
National Retail Properties, Inc.
3.50%, 10/15/2027		$   1,600,000		$   1,714,850
Service Properties Trust
4.35%, 10/01/2024		1,600,000		1,685,206
Simon Property Group, LP
2.50%, 09/01/2020		2,500,000		2,506,068
				19,580,627
Food Products - 1.1%
Campbell Soup Co.
3.30%, 03/15/2021		1,900,000		1,925,287
Danone SA
2.59%, 11/02/2023 (B)		3,294,000		3,380,533
3.00%, 06/15/2022 (B)		1,100,000		1,130,622
				6,436,442
Health Care Equipment & Supplies - 0.3%
Boston Scientific Corp.
3.38%, 05/15/2022		1,600,000		1,655,666
Health Care Providers & Services - 1.1%
Aetna, Inc.
2.75%, 11/15/2022		2,000,000		2,040,777
Anthem, Inc.
2.38%, 01/15/2025		1,900,000		1,925,289
Cigna Corp.
3-Month LIBOR + 0.89%, 2.72% (A), 07/15/2023		1,100,000		1,113,434
CVS Health Corp.
3.50%, 07/20/2022		1,300,000		1,346,722
				6,426,222
Hotels, Restaurants & Leisure - 1.5%
Choice Hotels International, Inc.
3.70%, 12/01/2029		1,400,000		1,436,694
GLP Capital, LP / GLP Financing II, Inc.
5.30%, 01/15/2029		2,400,000		2,767,968
Marriott International, Inc.
2.13%, 10/03/2022		1,600,000		1,612,349
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.
4.25%, 05/30/2023 (B) (E)		1,500,000		1,546,905
5.50%, 03/01/2025 (B)		1,800,000		1,876,500
				9,240,416
Household Durables - 0.3%
D.R. Horton, Inc.
4.38%, 09/15/2022		1,800,000		1,896,709
Household Products - 0.7%
Reckitt Benckiser Treasury Services PLC
2.38%, 06/24/2022 (B)		3,900,000		3,950,648
Industrial Conglomerates - 0.2%
General Electric Co.
4.65%, 10/17/2021, MTN		1,300,000		1,358,062
Insurance - 0.8%
Allstate Corp.
3-Month LIBOR + 0.63%, 2.59% (A), 03/29/2023		1,300,000		1,310,416

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance (continued)
Ambac LSNI LLC
3-Month LIBOR + 5.00%, 6.94% (A), 02/12/2023 (B)		$   1,963,538		$   1,995,446
Jackson National Life Global Funding
2.38%, 09/15/2022 (B)		1,700,000		1,725,017
				5,030,879
Internet & Direct Marketing Retail - 0.2%
eBay, Inc.
3.80%, 03/09/2022		1,200,000		1,243,445
Machinery - 0.5%
CNH Industrial Capital LLC
4.38%, 11/06/2020 (E)		1,300,000		1,322,425
Westinghouse Air Brake Technologies Corp.
3-Month LIBOR + 1.30%, 3.19% (A), 09/15/2021		1,700,000		1,700,348
				3,022,773
Media - 0.8%
Charter Communications Operating LLC / Charter Communications Operating Capital
3.58%, 07/23/2020		1,800,000		1,810,621
4.46%, 07/23/2022		600,000		634,000
Interpublic Group of Cos., Inc.
3.50%, 10/01/2020		2,200,000		2,223,206
				4,667,827
Multi-Utilities - 0.3%
Sempra Energy
2.40%, 03/15/2020 (E)		1,900,000		1,900,380
Oil, Gas & Consumable Fuels - 0.9%
Continental Resources, Inc.
5.00%, 09/15/2022		330,000		331,699
Enbridge, Inc.
3-Month LIBOR + 0.70%, 2.59% (A), 06/15/2020		1,500,000		1,503,159
Energy Transfer Operating, LP
4.15%, 10/01/2020		800,000		808,641
Marathon Oil Corp.
2.80%, 11/01/2022		1,000,000		1,020,188
Petrobras Global Finance BV
6.13%, 01/17/2022		408,000		437,070
Sabine Pass Liquefaction LLC
5.63%, 02/01/2021		1,500,000		1,539,966
				5,640,723
Pharmaceuticals - 1.6%
Bayer US Finance II LLC
3-Month LIBOR + 0.63%, 2.58% (A), 06/25/2021 (B)		1,900,000		1,908,783
3-Month LIBOR + 1.01%, 2.90% (A), 12/15/2023 (B)		2,200,000		2,220,128
Bristol-Myers Squibb Co.
2.88%, 08/15/2020 (B)		1,500,000		1,508,842
Mylan NV
3.15%, 06/15/2021		1,800,000		1,828,541

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Pharmaceuticals (continued)
Teva Pharmaceutical Finance II BV
4.50%, 03/01/2025		EUR  1,100,000		$   1,230,629
Teva Pharmaceutical Finance III BV
6.00%, 04/15/2024 (E)		$  1,100,000		1,114,993
				9,811,916
Professional Services - 0.4%
Equifax, Inc.
3-Month LIBOR + 0.87%, 2.78% (A), 08/15/2021		2,100,000		2,110,873
Real Estate Management & Development - 0.2%
Tesco Property Finance 6 PLC
5.41%, 07/13/2044 (C)		GBP  761,013		1,318,241
Road & Rail - 0.3%
Avolon Holdings Funding, Ltd.
5.25%, 05/15/2024 (B)		$  1,700,000		1,870,680
Semiconductors & Semiconductor Equipment - 1.4%
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
2.20%, 01/15/2021		1,900,000		1,904,932
3.00%, 01/15/2022		2,300,000		2,340,995
Micron Technology, Inc.
4.98%, 02/06/2026		1,800,000		2,029,076
NXP BV / NXP Funding LLC
4.88%, 03/01/2024 (B)		1,900,000		2,090,517
				8,365,520
Software - 0.4%
VMware, Inc.
2.95%, 08/21/2022		2,400,000		2,456,016
Specialty Retail - 0.1%
QVC, Inc.
5.13%, 07/02/2022		800,000		848,470
Technology Hardware, Storage & Peripherals - 1.0%
Dell International LLC / EMC Corp.
4.42%, 06/15/2021 (B)		2,000,000		2,060,994
5.45%, 06/15/2023 (B)		2,200,000		2,410,204
Hewlett Packard Enterprise Co.
3-Month LIBOR + 0.72%, 2.62% (A), 10/05/2021		1,500,000		1,500,211
				5,971,409
Tobacco - 0.6%
Imperial Brands Finance PLC
3.13%, 07/26/2024 (B)		1,700,000		1,740,744
3.75%, 07/21/2022 (B)		297,000		307,612
Reynolds American, Inc.
4.00%, 06/12/2022		1,800,000		1,883,796
				3,932,152
Wireless Telecommunication Services - 0.8%
Altice France SA
5.88%, 02/01/2027 (B)		EUR  1,200,000		1,472,263
7.38%, 05/01/2026 (B)		$   900,000		958,572

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Wireless Telecommunication Services (continued)
Sprint Communications, Inc.
7.00%, 03/01/2020 (B)		$   900,000		$   902,790
Vodafone Group PLC
3-Month LIBOR + 0.99%, 2.83% (A), 01/16/2024		1,700,000		1,723,001
				5,056,626
Total Corporate Debt Securities (Cost $310,271,085)				319,165,385
FOREIGN GOVERNMENT OBLIGATIONS - 7.2%
Brazil - 2.8%
Brazil Letras do Tesouro Nacional
Zero Coupon, 04/01/2020 - 07/01/2020		BRL  73,000,000		16,895,187
Japan - 1.0%
Japan Bank for International Cooperation
2.88%, 07/21/2027		$  1,700,000		1,831,693
Japan Finance Organization for Municipalities
2.63%, 04/20/2022 (B)		1,400,000		1,427,506
3.38%, 09/27/2023 (B)		2,900,000		3,057,818
				6,317,017
Kuwait - 0.2%
Kuwait International Government Bond
2.75%, 03/20/2022 (C)		1,400,000		1,424,500
Peru - 0.3%
Peru Government International Bond
5.94%, 02/12/2029 (B)		PEN  6,200,000		2,105,353
Qatar - 0.8%
Qatar Government International Bond
3.38%, 03/14/2024 (C)		$  2,100,000		2,212,875
4.00%, 03/14/2029 (C)		2,100,000		2,367,864
				4,580,739
Spain - 2.1%
Spain Government Bond
1.40%, 07/30/2028 (C)		EUR  3,400,000		4,175,771
1.85%, 07/30/2035 (C)		2,400,000		3,135,252
0.60%, 10/31/2029, MTN (C)		4,600,000		5,284,164
				12,595,187
Total Foreign Government Obligations (Cost $43,690,232)				43,917,983
MORTGAGE-BACKED SECURITIES - 8.3%
Alternative Loan Trust
Series 2005-J12, Class 2A1,
1-Month LIBOR + 0.54%, 2.20% (A), 08/25/2035		$  936,213		641,067
Series 2006-30T1, Class 1A3,
6.25%, 11/25/2036		118,115		107,558
Series 2006-J8, Class A2,
6.00%, 02/25/2037		146,298		101,356
Series 2006-OA12, Class A1B,
1-Month LIBOR + 0.19%, 1.84% (A), 09/20/2046		544,807		478,748
Series 2006-OC7, Class 2A2A,
1-Month LIBOR + 0.17%, 1.83% (A), 07/25/2046		333,255		345,079

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Alternative Loan Trust (continued)
Series 2006-OC8, Class 2A2B,
1-Month LIBOR + 0.17%, 1.83% (A), 11/25/2036		$   251,855		$   248,512
Series 2007-2CB, Class 1A13,
1-Month LIBOR + 1.00%, 5.75% (A), 03/25/2037		178,463		151,562
Series 2007-HY4, Class 1A1,
3.87% (A), 06/25/2037		263,315		227,611
Series 2007-J1, Class 2A8,
6.00%, 03/25/2037		1,346,570		822,749
Ashford Hospitality Trust
Series 2018-AHT1, Class A,
1-Month LIBOR + 1.00%, 2.68% (A), 05/15/2035 (B)		2,200,000		2,197,237
Banc of America Funding Trust
Series 2005-D, Class A1,
4.53% (A), 05/25/2035		96,189		98,531
Series 2006-J, Class 4A1,
4.18% (A), 01/20/2047		20,891		20,377
BBCMS Trust
Series 2015-STP, Class A,
3.32%, 09/10/2028 (B)		1,646,294		1,653,799
BCAP LLC Trust
Series 2011-RR8, Class 2A1,
3.76% (A), 08/26/2037 (B)		18,023		17,992
Bear Stearns Alt-A Trust
Series 2006-6, Class 31A1,
3.89% (A), 11/25/2036		751,869		696,266
Series 2006-6, Class 32A1,
3.80% (A), 11/25/2036		165,794		137,243
Bear Stearns ARM Trust
Series 2003-5, Class 2A1,
4.31% (A), 08/25/2033		93,708		93,646
Series 2003-8, Class 2A1,
4.10% (A), 01/25/2034		3,356		3,506
Series 2003-8, Class 4A1,
4.26% (A), 01/25/2034		35,844		36,902
Series 2006-4, Class 1A1,
4.58% (A), 10/25/2036		26,351		25,954
Bear Stearns Structured Products, Inc. Trust
Series 2007-R6, Class 1A1,
2.94% (A), 01/26/2036		88,335		79,261
CGMS Commercial Mortgage Trust
Series 2017-MDRA, Class A,
3.66%, 07/10/2030 (B)		1,900,000		1,945,935
Chevy Chase Funding LLC Mortgage-Backed Certificates
Series 2004-3A, Class A1,
1-Month LIBOR + 0.25%, 1.91% (A), 08/25/2035 (B)		43,700		43,507
CHL Mortgage Pass-Through Trust
Series 2004-12, Class 12A1,
4.13% (A), 08/25/2034		23,028		23,161
Citigroup Mortgage Loan Trust, Inc.
Series 2005-6, Class A2,
1-Year CMT + 2.15%, 4.55% (A), 09/25/2035		33,163		33,425
Series 2009-3, Class 5A3,
6.00% (A), 02/25/2037 (B)		708,002		709,949
CitiMortgage Alternative Loan Trust
Series 2006-A7, Class 1A9,
1-Month LIBOR + 0.65%, 2.31% (A), 12/25/2036		1,099,545		882,747

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
COMM Mortgage Trust
Series 2015-CR26, Class ASB,
3.37%, 10/10/2048		$   1,400,000		$   1,465,701
Credit Suisse First Boston Mortgage Securities Corp.
Series 2002-P1A, Class A,
2.40% (A), 03/25/2032 (B)		189		180
Series 2003-AR15, Class 2A1,
3.97% (A), 06/25/2033		169,964		171,907
Series 2003-AR28, Class 2A1,
3.84% (A), 12/25/2033		1,309,295		1,324,084
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust
Series 2005-6, Class 2A3,
5.50%, 12/25/2035		205,960		200,570
First Horizon Alternative Mortgage Securities Trust
Series 2007-FA4, Class 1A8,
6.25%, 08/25/2037		121,573		89,718
First Horizon Mortgage Pass-Through Trust
Series 2005-AR3, Class 2A1,
4.66% (A), 08/25/2035		11,423		9,571
GS Mortgage Securities Corp. Trust
Series 2016-RENT, Class A,
3.20%, 02/10/2029 (B)		1,400,000		1,409,734
GSR Mortgage Loan Trust
Series 2005-AR6, Class 2A1,
4.10% (A), 09/25/2035		14,727		15,163
HarborView Mortgage Loan Trust
Series 2005-14, Class 4A1A,
3.79% (A), 12/19/2035		142,961		104,862
Series 2006-6, Class 5A1A,
4.31% (A), 08/19/2036		54,307		51,911
Hawksmoor Mortgages
Series 2019-1A, Class A,
SONIA + 1.05%, 1.76% (A), 05/25/2053 (B)		GBP  6,325,034		8,391,245
Hilton USA Trust
Series 2016-SFP, Class A,
2.83%, 11/05/2035 (B)		$  1,700,000		1,703,082
IndyMac INDX Mortgage Loan Trust
Series 2005-AR11, Class A3,
3.61% (A), 08/25/2035		786,310		711,021
JPMorgan Alternative Loan Trust
Series 2006-A2, Class 1A1,
1-Month LIBOR + 0.18%, 1.84% (A), 05/25/2036		948,779		912,021
JPMorgan Chase Commercial Mortgage Securities Trust
Series 2018-LAQ, Class A,
1-Month LIBOR + 1.00%, 2.68% (A), 06/15/2032 (B)		1,946,091		1,945,491
Series 2018-PHH, Class A,
1-Month LIBOR + 0.91%, 2.59% (A), 06/15/2035 (B)		1,744,354		1,744,790
Ludgate Funding PLC
Series 2007-1, Class A2A,
3-Month GBP LIBOR + 0.16%, 0.96% (A), 01/01/2061 (C)		GBP  1,373,041		1,717,655
MASTR Alternative Loan Trust
Series 2006-2, Class 2A1,
1-Month LIBOR + 0.40%, 2.06% (A), 03/25/2036		$  88,228		12,876
Morgan Stanley Capital I Trust
Series 2014-CPT, Class AM,
3.52% (A), 07/13/2029 (B)		1,400,000		1,426,989

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
RALI Trust
Series 2008-QR1, Class 1A1,
1-Month LIBOR + 1.40%, 3.06% (A), 08/25/2036		$   242,490		$   228,754
Reperforming Loan REMIC Trust
Series 2004-R1, Class 2A,
6.50%, 11/25/2034 (B)		87,903		88,226
Series 2005-R2, Class 1AF1,
1-Month LIBOR + 0.34%, 2.00% (A), 06/25/2035 (B)		280,207		270,421
RFMSI Trust
Series 2003-S9, Class A1,
6.50%, 03/25/2032		445		459
RMAC Securities No. 1 PLC
Series 2007-NS1X, Class A2B,
3-Month LIBOR + 0.15%, 2.04% (A), 06/12/2044 (C)		1,721,557		1,634,792
Sequoia Mortgage Trust
Series 2004-11, Class A2,
6-Month LIBOR + 0.64%, 2.56% (A), 12/20/2034		601,340		595,130
Series 2007-1, Class 1A1,
3.53% (A), 01/20/2047		164,312		132,505
Series 2007-3, Class 2AA1,
3.98% (A), 07/20/2037		959,563		911,601
Series 2010, Class 2A1,
1-Month LIBOR + 0.76%, 2.42% (A), 10/20/2027		4,080		4,013
Structured Adjustable Rate Mortgage Loan Trust
Series 2004-12, Class 3A1,
4.10% (A), 09/25/2034		112,221		114,370
Series 2004-19, Class 2A1,
12-MTA + 1.40%, 3.55% (A), 01/25/2035		72,065		70,712
Structured Asset Mortgage Investments II Trust
Series 2005-AR5, Class A1,
1-Month LIBOR + 0.25%, 1.91% (A), 07/19/2035		10,906		10,659
Series 2005-AR5, Class A2,
1-Month LIBOR + 0.25%, 1.91% (A), 07/19/2035		11,530		11,243
Series 2005-AR5, Class A3,
1-Month LIBOR + 0.25%, 1.91% (A), 07/19/2035		27,821		27,297
Series 2005-AR8, Class A1A,
1-Month LIBOR + 0.28%, 1.94% (A), 02/25/2036		212,623		205,136
Structured Asset Mortgage Investments Trust
Series 2002-AR3, Class A1,
1-Month LIBOR + 0.66%, 2.32% (A), 09/19/2032		3,213		3,194
Structured Asset Securities Corp. Mortgage Pass-Through Certificates
Series 2003-22A, Class 2A1,
3.88% (A), 06/25/2033		116,988		115,974
Towd Point Mortgage Funding
Series 2019-A13A, Class A1,
SONIA + 0.90%, 1.61% (A), 07/20/2045 (B)		GBP  5,418,056		7,165,997

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
MORTGAGE-BACKED SECURITIES (continued)
Towd Point Mortgage Funding PLC
Series 2019-GR4A, Class A1,
3-Month GBP LIBOR + 1.03%, 1.72% (A), 10/20/2051 (B)		GBP  2,094,158		$   2,784,594
WaMu Mortgage Pass-Through Certificates Trust
Series 2003-AR9, Class 2A,
4.40% (A), 09/25/2033		$  202,595		207,925
Wells Fargo Mortgage-Backed Securities Trust
Series 2006-AR1, Class 2A4,
4.85% (A), 03/25/2036		824,576		793,295
Total Mortgage-Backed Securities (Cost $49,399,921)				50,608,548
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.5%
Illinois - 0.5%
City of Chicago, General Obligation Unlimited,
Series B,
7.75%, 01/01/2042		170,000		195,213
State of Illinois, General Obligation Unlimited
6.63%, 02/01/2035		1,500,000		1,843,005
7.35%, 07/01/2035		1,015,000		1,282,696
Total Municipal Government Obligations (Cost $2,821,973)				3,320,914
U.S. GOVERNMENT AGENCY OBLIGATIONS - 53.3%
Federal Home Loan Mortgage Corp.
12-Month LIBOR + 1.35%, 3.75% (A), 09/01/2035		9,669		10,014
1-Year CMT + 2.22%, 3.97% (A), 11/01/2033		18,159		19,090
4.00%, 09/01/2048 - 10/01/2048		970,427		1,015,552
1-Year CMT + 2.26%, 4.01% (A), 01/01/2036		514,328		544,769
12-Month LIBOR + 1.87%, 4.17% (A), 09/01/2035		57,060		59,461
4.50%, 08/01/2025 - 05/01/2037		23,003		25,041
1-Year CMT + 2.23%, 4.82% (A), 03/01/2034		33,115		34,879
Federal Home Loan Mortgage Corp. REMIC
1-Month LIBOR + 0.40%, 2.08% (A), 06/15/2041		903,218		901,400
6.50%, 04/15/2029		846		928
Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates
12-MTA + 1.20%, 3.35% (A), 10/25/2044		126,680		128,587
12-MTA + 1.40%, 3.55% (A), 07/25/2044		123,400		127,162
6.50%, 07/25/2043		7,809		9,395
Federal National Mortgage Association
1-Month LIBOR + 0.35%, 2.14% (A), 09/25/2042		114,759		113,652
3.31%, 07/01/2023		3,223,633		3,380,774
12-MTA + 1.20%, 3.44% (A), 03/01/2044 - 10/01/2044		382,692		385,704
3.50%, 02/01/2027		98,608		103,142
4.00%, 09/01/2048 - 12/01/2048		4,990,120		5,217,165
1-Year CMT + 2.27%, 4.02% (A), 11/01/2033		19,094		19,210

	Principal		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
12-Month LIBOR + 1.33%, 4.07% (A), 07/01/2035		$   43,051		$   44,595
1-Year CMT + 2.04%, 4.12% (A), 09/01/2035		89,657		92,777
1-Year CMT + 2.19%, 4.19% (A), 01/01/2026		1,366		1,377
1-Year CMT + 2.22%, 4.46% (A), 01/01/2028		8,774		9,164
4.50%, 12/01/2024		84,608		87,966
12-Month LIBOR + 1.71%, 4.73% (A), 03/01/2034		41,033		42,920
5.00%, 10/01/2029		134,981		145,579
6.00%, 07/01/2035 - 06/01/2040		799,928		919,495
Federal National Mortgage Association REMIC
1-Month LIBOR + 0.45%, 2.14% (A), 09/25/2046		444,331		444,843
6.30%, 10/17/2038		44,751		44,859
Federal National Mortgage Association REMIC, Interest Only STRIPS
(1.00) * 1-Month LIBOR + 7.10%, 5.44% (A), 07/25/2034		296,206		50,737
Government National Mortgage Association
1-Month LIBOR + 0.60%, 2.29% (A), 08/20/2065 - 10/20/2065		3,066,996		3,067,472
1-Month LIBOR + 0.95%, 2.64% (A), 12/20/2066		1,206,546		1,221,190
1-Month LIBOR + 1.00%, 2.69% (A), 12/20/2065		4,640,704		4,705,097
3.00%, TBA (G)		6,000,000		6,164,219
3.50%, TBA (G)		24,200,000		24,941,125
1-Year CMT + 1.50%, 3.88% (A), 05/20/2024		8,583		8,775
4.00%, 06/20/2047		1,787,879		1,885,253
4.00%, TBA (G)		70,400,000		73,086,498
4.50%, TBA (G)		18,000,000		18,934,453
5.00%, TBA (G)		20,400,000		21,647,109
Government National Mortgage Association, Interest Only STRIPS
(1.00) * 1-Month LIBOR + 6.56%, 4.89% (A), 04/16/2033 - 10/16/2033		306,467		21,380
(1.00) * 1-Month LIBOR + 6.60%, 4.93% (A), 08/16/2033		594,014		57,270
(1.00) * 1-Month LIBOR + 6.60%, 4.94% (A), 09/20/2034		324,311		58,989
Uniform Mortgage-Backed Security
2.50%, TBA (G)		3,200,000		3,222,576
3.00%, TBA (G)		65,900,000		67,341,664
3.50%, TBA (G)		55,900,000		57,803,498
4.00%, TBA (G)		23,200,000		24,243,600
5.00%, TBA (G)		1,000,000		1,055,327
Total U.S. Government Agency Obligations (Cost $322,398,601)				323,445,732
U.S. GOVERNMENT OBLIGATIONS - 36.9%
U.S. Treasury - 29.2%
U.S. Treasury Bond
2.75%, 08/15/2042 - 11/15/2042 (H)		10,000,000		11,399,961
2.88%, 05/15/2043 - 08/15/2045 (H)		10,800,000		12,603,516
3.00%, 05/15/2042 - 02/15/2048 (H)		10,200,000		12,287,789
3.13%, 02/15/2043		1,000,000		1,208,945
3.13%, 08/15/2044 (H)		12,400,000		15,051,469
4.25%, 05/15/2039 (H)		900,000		1,255,254
4.38%, 11/15/2039 - 05/15/2040 (H)		6,300,000		8,953,438
4.63%, 02/15/2040 (H) (I)		700,000		1,025,937

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
U.S. GOVERNMENT OBLIGATIONS (continued)
U.S. Treasury (continued)
U.S. Treasury Note
1.75%, 06/30/2024 (H)		$   4,300,000		$   4,377,602
1.88%, 07/31/2022 (I) (J)		900,000		912,164
1.88%, 08/31/2022 (H) (I) (K)		4,000,000		4,056,562
2.00%, 12/31/2021 (H)		60,100,000		60,823,078
2.00%, 10/31/2022 (I)		400,000		407,391
2.13%, 09/30/2024 (H)		11,100,000		11,497,172
2.25%, 08/15/2027 (H) (I) (K)		5,900,000		6,238,328
2.38%, 05/15/2029 (H)		4,600,000		4,944,461
2.63%, 02/15/2029 (H)		9,500,000		10,400,644
2.88%, 05/15/2049 (H) (I)		8,400,000		10,005,844
				177,449,555
U.S. Treasury Inflation-Protected Securities - 7.7%
U.S. Treasury Inflation-Indexed Bond
0.75%, 02/15/2042 (H)		3,414,930		3,771,382
0.88%, 01/15/2029 (H) (I)		8,556,660		9,326,822
0.88%, 02/15/2047 (I)		852,432		983,072
1.00%, 02/15/2046		1,411,202		1,663,400
1.00%, 02/15/2048 (H)		3,233,455		3,855,801
1.00%, 02/15/2049 (E) (H)		1,124,376		1,351,119
U.S. Treasury Inflation-Indexed Note
0.38%, 07/15/2023 (J) (K)		5,194,675		5,306,435
0.38%, 01/15/2027 (H)		2,981,440		3,091,536
0.38%, 07/15/2027		1,366,924		1,425,563
0.63%, 01/15/2026 (H)		6,711,438		7,033,203
0.75%, 07/15/2028 (H)		8,187,193		8,829,665
				46,637,998
Total U.S. Government Obligations (Cost $211,877,489)				224,087,553
	Shares		Value
COMMON STOCK - 0.0% (L)
Household Durables - 0.0% (L)
Urbi Desarrollos Urbanos SAB de CV (M)		7,629		399
Total Common Stock (Cost $417,591)				399
OTHER INVESTMENT COMPANY - 1.2%
Securities Lending Collateral - 1.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (N)		7,362,020		7,362,020
Total Other Investment Company (Cost $7,362,020)				7,362,020

	Principal		Value
REPURCHASE AGREEMENT - 0.0% (L)
Fixed Income Clearing Corp., 0.85% (N), dated 01/31/2020, to be repurchased at $149,690 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $152,819.		$  149,679		$   149,679
Total Repurchase Agreement (Cost $149,679)				149,679
Total Investments Excluding Options Purchased (Cost $1,023,687,942)				1,053,895,417
Total Options Purchased - 0.0% (L) (Cost $12,222)				3,057
Total Investments (Cost $1,023,700,164)				1,053,898,474
Net Other Assets (Liabilities) - (73.5)%				(446,617,747	)
Net Assets - 100.0%				$  607,280,727

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Face Value			Value Including Accrued Interest
REVERSE REPURCHASE AGREEMENTS - (23.9)%
Bank of Montreal, 1.91% (N), dated 11/21/2019, to be repurchased at $(38,136,997) on 02/21/2020. Collateralized by U.S. Government Obligations, 2.00% - 4.38%, due 09/15/2021 - 08/15/2044, and with a total value of $(38,286,878).		$  (37,951,750	)		$  (38,096,726	)
Bank of Nova Scotia, 1.69% (N), dated 01/10/2020, to be repurchased at $(17,249,094) on 04/09/2020. Collateralized by U.S. Government Obligations, 0.63% - 3.13%, due 04/15/2023 - 05/15/2049, and with a total value of $(17,260,785).		(17,176,523	)		(17,194,263	)
BOFA Securities, Inc., 1.70% (N), dated 01/10/2020, to be repurchased at $(3,850,043) on 04/09/2020. Collateralized by U.S. Government Obligations, 2.25% - 2.38%, due 08/15/2027 - 05/15/2029, and with a total value of $(3,965,938).		(3,833,750	)		(3,837,733	)
RBS Securities, Inc., 1.68% (N), dated 01/07/2020, to be repurchased at $(14,731,906) on 02/07/2020. Collateralized by U.S. Government Obligations, 2.13% - 2.88%, due 09/30/2024 - 05/15/2049, and Cash with a total value of $(14,802,072).		(14,710,625	)		(14,727,787	)

	Face Value			Value Including Accrued Interest
REVERSE REPURCHASE AGREEMENTS (continued)
Standard Chartered Bank, 1.72% (N), dated 01/29/2020, to be repurchased at $(3,631,928) on 02/12/2020. Collateralized by a U.S. Government Obligation, 2.38%, due 05/15/2029, and Cash with a value of $(3,603,923).		$   (3,629,500	)		$   (3,630,020	)
Standard Chartered Bank, 1.88% (N), dated 11/25/2019, to be repurchased at $(41,719,453) on 02/28/2020. Collateralized by a U.S. Government Obligation, 2.00%, due 12/31/2021, and Cash with a value of $(40,697,492).		(41,513,500	)		(41,675,275	)
Standard Chartered Bank, 1.88% (N), dated 11/08/2019, to be repurchased at $(26,643,765) on 02/28/2020. Collateralized by U.S. Government Obligations, 2.88% - 4.38%, due 05/15/2039 - 02/15/2048, and Cash with a total value of $(27,892,152).		(26,488,835	)		(26,592,060	)
Total Reverse Repurchase Agreements		$  (145,304,483	)		$  (145,753,864	)

EXCHANGE-TRADED OPTIONS PURCHASED:

Description	Exercise Price			Expiration Date		Notional Amount			Number of Contracts		Premiums Paid			Value
Call - 10-Year U.S. Treasury Note Futures		USD	137.50		02/21/2020		USD	5,793,040		44		$	378		$	688
Call - 10-Year U.S. Treasury Note Futures		USD	138.00		02/21/2020		USD	6,846,320		52			447			813
Call - 10-Year U.S. Treasury Note Futures		USD	139.00		02/21/2020		USD	658,300		5			43			5
Call - 10-Year U.S. Treasury Note Futures		USD	140.00		03/27/2020		USD	787,020		6			52			94
Call - U.S. Treasury Note Futures		USD	178.00		02/21/2020		USD	2,452,950		15			129			234
Call - U.S. Treasury Note Futures		USD	185.00		03/27/2020		USD	810,950		5			43			156
Call - U.S. Treasury Note Futures		USD	193.00		02/21/2020		USD	490,590		3			26			3
Call - U.S. Treasury Note Futures		USD	194.00		02/21/2020		USD	163,530		1			9			1
Call - U.S. Treasury Note Futures		USD	195.00		02/21/2020		USD	31,724,820		194			1,668			194
Call - U.S. Treasury Note Futures		USD	197.00		02/21/2020		USD	163,530		1			10			1
Put - 5-Year U.S. Treasury Note Futures		USD	110.25		02/21/2020		USD	360,960		3			26			3
Put - 5-Year U.S. Treasury Note Futures		USD	110.50		02/21/2020		USD	23,943,680		199			1,711			199
Put - 5-Year U.S. Treasury Note Futures		USD	110.75		02/21/2020		USD	24,304,640		202			1,737			202
Put - 5-Year U.S. Treasury Note Futures		USD	111.00		02/21/2020		USD	40,668,160		338			2,907			338
Put - 5-Year U.S. Treasury Note Futures		USD	112.00		02/21/2020		USD	4,451,840		37			318			37
Put - 5-Year U.S. Treasury Note Futures		USD	113.00		03/27/2020		USD	240,460		2			17			2
Put - 5-Year U.S. Treasury Note Futures		USD	114.25		02/21/2020		USD	1,684,480		14			120			14
Put - 10-Year U.S. Treasury Note Futures		USD	117.50		02/21/2020		USD	9,611,180		73			628			72
Total												$	10,269		$	3,056

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

OVER-THE-COUNTER OPTIONS PURCHASED:

Description

Counterparty

Exercise Price

Expiration Date

Notional Amount

Number of Contracts

Premiums Paid

Value

Put - Federal National Mortgage Association, 3.00%, TBA

JPM

USD

71.00

03/05/2020

USD

50,000,000

50,000,000

$

1,953

$

1

EXCHANGE-TRADED OPTIONS WRITTEN:

Description	Exercise Price			Expiration Date		Notional Amount			Number of Contracts		Premiums (Received)				Value
Call - 5-Year U.S. Treasury Note Futures		USD	120.00		02/21/2020		USD	4,812,800		40		$	(9,325	)		$	(21,875	)
Put - 5-Year U.S. Treasury Note Futures		USD	119.50		02/21/2020		USD	7,459,840		62			(13,498	)			(4,843	)
Put - 10-Year U.S. Treasury Note Futures		USD	128.50		02/21/2020		USD	7,109,640		54			(12,589	)			(844	)
Put - 10-Year U.S. Treasury Note Futures		USD	130.25		02/21/2020		USD	5,793,040		44			(15,766	)			(6,875	)
Put - 10-Year U.S. Treasury Note Futures		USD	130.50		02/21/2020		USD	7,899,600		60			(27,848	)			(12,188	)
Put - 10-Year U.S. Treasury Note Futures		USD	130.75		02/21/2020		USD	5,266,400		40			(11,811	)			(11,811	)
Total												$	(90,837	)		$	(58,436	)

OVER-THE-COUNTER FOREIGN EXCHANGE OPTIONS WRITTEN:

Description	Counterparty		Exercise Price			Expiration Date		Notional Amount/ Number of Contracts			Premiums (Received)				Value
Call - USD vs BRL		GSB		USD	4.20		03/16/2020		USD	4,300,000		$	(49,537	)		$	(118,663	)
Call - USD vs BRL		GSB		USD	4.25		03/12/2020		USD	4,300,000			(32,250	)			(82,083	)
Total												$	(81,787	)		$	(200,746	)

	Premiums (Received)				Value
TOTAL WRITTEN OPTIONS AND SWAPTIONS		$	(172,624	)		$	(259,182	)

CENTRALLY CLEARED SWAP AGREEMENTS:

Credit Default Swap Agreements on Corporate and Sovereign Issues – Sell Protection ^(O)

Reference Obligation	Fixed Rate Receivable			Payment Frequency		Maturity Date		Implied Credit Spread at January 31, 2020 (P)			Notional Amount (Q)			Value (R)			Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
General Electric Co., 2.70%, 10/09/2022		1.00	%		Quarterly		12/20/2023		0.60	%		USD	600,000		$	9,796		$	(22,943	)		$	32,739
General Electric Co., 2.70%, 10/09/2022		1.00			Quarterly		06/20/2024		0.70			USD	200,000			2,942			(519	)			3,461
General Electric Co., 2.70%, 10/09/2022		1.00			Quarterly		12/20/2024		0.78			USD	700,000			8,092			(9,396	)			17,488
Goldman Sachs Group, Inc., 5.95%, 01/18/2018		1.00			Quarterly		06/20/2021		0.22			USD	1,000,000			12,071			4,782				7,289
Goldman Sachs Group, Inc., 5.95%, 01/18/2018		1.00			Quarterly		12/20/2021		0.24			USD	1,400,000			21,559			7,522				14,037
MetLife, Inc., 4.75%, 02/08/2021		1.00			Quarterly		12/20/2021		0.13			USD	1,500,000			26,002			(4,867	)			30,869
Rolls-Royce Holdings PLC, 2.13%, 06/18/2021		1.00			Quarterly		12/20/2024		0.96			EUR	1,300,000			4,601			(6,857	)			11,458
Tesco PLC, 6.00%, 12/14/2029		1.00			Quarterly		06/20/2022		0.30			EUR	1,200,000			24,900			(24,642	)			49,542
Total															$	109,963		$	(56,920	)		$	166,883

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CENTRALLY CLEARED SWAP AGREEMENTS (continued):

Credit Default Swap Agreements on Credit Indices – Sell Protection ^(O)

Reference Obligation	Fixed Rate Receivable			Payment Frequency		Maturity Date		Notional Amount (Q)			Value (R)				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
North America Investment Grade Index - Series 31		1.00	%		Quarterly		12/20/2023		USD	36,900,000		$	(907,498	)		$	(537,417	)		$	(370,081	)
North America Investment Grade Index - Series 32		1.00			Quarterly		06/20/2024		USD	10,800,000			(267,024	)			(150,981	)			(116,043	)
Total												$	(1,174,522	)		$	(688,398	)		$	(486,124	)

Interest Rate Swap Agreements

Floating Rate Index	Pay/Receive Fixed Rate		Fixed     Rate			Payment Frequency		Maturity Date		Notional Amount			Value				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
3-Month USD-LIBOR		Receive		2.80	%		Quarterly/     Semi-Annually		08/22/2023		USD	6,700,000		$	400,189			$	(159	)		$	400,348
6-Month GBP-LIBOR		Pay		0.75			Semi-Annually		03/18/2030		GBP	600,000			(2,053	)			5,998				(8,051	)
6-Month GBP-LIBOR		Pay		0.75			Semi-Annually		03/18/2050		GBP	1,000,000			25,443				24,019				1,424
6-Month GBP-LIBOR		Pay		1.00			Semi-Annually		06/17/2050		GBP	4,700,000			(307,844	)			85,819				(393,663	)
6-Month JPY-LIBOR		Receive		0.00			Semi-Annually		09/24/2026		JPY	252,000,000			(9,436	)			335				(9,771	)
6-Month JPY-LIBOR		Receive		0.00			Semi-Annually		10/22/2038		JPY	90,000,000			(170	)			(53,097	)			52,927
6-Month JPY-LIBOR		Receive		0.06			Semi-Annually		09/18/2026		JPY	560,000,000			(7,786	)			(238	)			(7,548	)
6-Month JPY-LIBOR		Receive		0.06			Semi-Annually		09/19/2026		JPY	207,000,000			(2,954	)			—				(2,954	)
6-Month JPY-LIBOR		Receive		0.06			Semi-Annually		09/19/2026		JPY	207,000,000			(3,077	)			—				(3,077	)
6-Month JPY-LIBOR		Receive		0.07			Semi-Annually		09/18/2026		JPY	350,000,000			(6,074	)			—				(6,074	)
6-Month JPY-LIBOR		Receive		0.09			Semi-Annually		09/20/2026		JPY	104,000,000			(2,917	)			—				(2,917	)
6-Month JPY-LIBOR		Receive		0.09			Semi-Annually		09/13/2026		JPY	210,000,000			(6,492	)			—				(6,492	)
6-Month JPY-LIBOR		Receive		0.10			Semi-Annually		09/13/2026		JPY	420,000,000			(13,712	)			—				(13,712	)
6-Month JPY-LIBOR		Receive		0.10			Semi-Annually		08/28/2039		JPY	90,000,000			(16,331	)			—				(16,331	)
6-Month JPY-LIBOR		Receive		0.12			Semi-Annually		08/22/2039		JPY	650,000,000			(94,652	)			51,283				(145,935	)
6-Month JPY-LIBOR		Receive		0.12			Semi-Annually		08/22/2039		JPY	410,000,000			(59,326	)			7,700				(67,026	)
6-Month JPY-LIBOR		Pay		0.30			Semi-Annually		03/18/2026		JPY	2,260,000,000			(461,199	)			(76,260	)			(384,939	)
6-Month JPY-LIBOR		Pay		0.30			Semi-Annually		03/18/2026		JPY	1,120,000,000			(228,437	)			(47,543	)			(180,894	)
6-Month JPY-LIBOR		Pay		0.30			Semi-Annually		09/20/2027		JPY	840,000,000			(200,210	)			(25,737	)			(174,473	)
6-Month JPY-LIBOR		Pay		0.30			Semi-Annually		03/20/2028		JPY	300,000,000			(73,942	)			17,333				(91,275	)
6-Month JPY-LIBOR		Receive		0.38			Semi-Annually		06/18/2028		JPY	740,000,000			226,262				36,282				189,980
6-Month JPY-LIBOR		Pay		0.45			Semi-Annually		03/20/2029		JPY	440,000,000			(172,004	)			(27,600	)			(144,404	)
6-Month JPY-LIBOR		Pay		0.71			Semi-Annually		10/31/2038		JPY	260,000,000			(234,491	)			15,552				(250,043	)
6-Month JPY-LIBOR		Pay		0.75			Semi-Annually		03/20/2038		JPY	522,000,000			(507,935	)			13,736				(521,671	)
6-Month JPY-LIBOR		Pay		0.75			Semi-Annually		12/20/2038		JPY	767,200,000			(747,054	)			38,963				(786,017	)
6-Month JPY-LIBOR		Pay		0.79			Semi-Annually		11/12/2038		JPY	60,000,000			(62,411	)			192				(62,603	)
6-Month JPY-LIBOR		Pay		0.80			Semi-Annually		10/22/2038		JPY	90,000,000			(96,274	)			—				(96,274	)
Total														$	(2,664,887	)		$	66,578			$	(2,731,465	)

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

OVER-THE-COUNTER SWAP AGREEMENTS:

Credit Default Swap Agreements on Corporate and Sovereign Issues – Sell Protection ^(O)

Reference Obligation	Counterparty		Fixed Rate Receivable			Payment Frequency		Maturity Date		Implied Credit Spread at January 31, 2020 (P)			Notional Amount (Q)			Value (R)				Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
Brazil Government International Bond, 4.25%, 01/07/2025		HSBC		1.00	%		Quarterly		03/20/2020		0.29	%		USD	1,600,000		$	3,446			$	1,062			$	2,384
Republic of South Africa Government International Bond, 5.50%, 03/09/2020		GSI		1.00			Quarterly		06/20/2024		1.73			USD	1,900,000			(55,136	)			(66,361	)			11,225
Russian Foreign Bond - Eurobond, 7.50%, 03/31/2030		GSI		1.00			Quarterly		12/20/2024		0.65			USD	1,500,000			26,838				9,009				17,829
Total																	$	(24,852	)		$	(56,290	)		$	31,438

Credit Default Swap Agreements on Credit Indices – Sell Protection ^(O)

Reference Obligation	Counterparty		Fixed Rate Receivable			Payment Frequency		Maturity Date		Notional Amount (Q)			Value (R)			Premiums Paid (Received)				Net Unrealized Appreciation (Depreciation)
North America CMBS Basket Index - Series AAA9		MLI		0.50	%		Monthly		09/17/2058		USD	3,600,000		$	37,874		$	(133,811	)		$	171,685

	Value
OTC Swap Agreements, at value (Assets)		$	68,158
OTC Swap Agreements, at value (Liabilities)		$	(55,136	)

FUTURES CONTRACTS:

Long Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount			Value			Unrealized Appreciation			Unrealized Depreciation
5-Year U.S. Treasury Note		915		03/31/2020		$	108,910,325		$	110,093,086		$	1,182,761		$	—
10-Year U.S. Treasury Note		38		03/20/2020			4,984,104			5,002,937			18,833			—
Euro-BTP Italy Government Bond		340		03/06/2020			52,356,713			53,446,804			1,090,091			—
German Euro Bund		192		03/06/2020			36,875,170			37,272,581			397,411			—
German Euro BUXL		18		03/06/2020			4,064,109			4,210,174			146,065			—
OTC Call Options Exercise Price EUR 167.00 on German Euro Bund Futures		59		02/21/2020			819			—			—			(819	)
OTC Call Options Exercise Price EUR 187.00 on German Euro Bund Futures		11		02/21/2020			132			122			—			(10	)
OTC Call Options Exercise Price EUR 188.00 on German Euro Bund Futures		1		02/21/2020			12			11			—			(1	)
OTC Call Options Exercise Price EUR 189.00 on German Euro Bund Futures		40		02/21/2020			482			444			—			(38	)
OTC Call Options Exercise Price EUR 190.00 on German Euro Bund Futures		101		02/21/2020			1,177			1,120			—			(57	)
OTC Put Options Exercise Price EUR 101.00 on German Euro Bund Futures		230		02/21/2020			2,691			2,551			—			(140	)
OTC Put Options Exercise Price EUR 102.00 on German Euro Bund Futures		26		02/21/2020			313			288			—			(25	)
OTC Put Options Exercise Price EUR 153.00 on German Euro Bund Futures		150		02/21/2020			1,807			1,664			—			(143	)
OTC Put Options Exercise Price EUR 156.00 on German Euro Bund Futures		19		02/21/2020			229			211			—			(18	)
OTC Put Options Exercise Price EUR 157.00 on German Euro Bund Futures		62		02/21/2020			723			688			—			(35	)
OTC Put Options Exercise Price EUR 158.00 on German Euro Bund Futures		1		02/21/2020			12			11			—			(1	)
Total												$	2,835,161		$	(1,287	)

The notes are an integral part of this report. Transamerica Funds Page    14

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FUTURES CONTRACTS (continued):

Short Futures Contracts

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
3-Month EURIBOR		(163	)		09/14/2020		$	(45,488,564	)		$	(45,397,139	)		$	91,425		$	—
3-Month EURIBOR		(115	)		12/14/2020			(32,071,961	)			(32,030,251	)			41,710			—
30-Year U.S. Treasury Bond		(201	)		03/20/2020			(31,944,585	)			(32,869,781	)			—			(925,196	)
Euro OAT		(153	)		03/06/2020			(28,048,698	)			(28,374,655	)			—			(325,957	)
OTC Call Options Exercise Price EUR 171.50 on German Euro Bund Futures		(42	)		03/27/2020			(56,965	)			(37,264	)			19,701			—
OTC Put Options Exercise Price EUR 173.00 on German Euro Bund Futures		(37	)		02/21/2020			(10,224	)			(5,745	)			4,479			—
U.K. Gilt		(91	)		03/27/2020			(15,910,434	)			(16,215,131	)			—			(304,697	)
Total															$	157,315		$	(1,555,850	)
Total Futures Contracts															$	2,992,476		$	(1,557,137	)

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
BCLY		02/14/2020	JPY	147,700,000	USD	1,367,167	$	—	$	(3,019	)
BCLY		02/14/2020	GBP	578,000	USD	774,468		—		(10,943	)
BNP		02/04/2020	USD	1,351,571	CAD	1,786,000		2,034		—
BNP		02/04/2020	USD	609,674	EUR	547,000		2,877		—
BNP		02/04/2020	EUR	951,000	USD	1,047,783		7,179		—
BNP		02/14/2020	JPY	72,800,000	USD	674,169		—		(1,793	)
BNP		03/03/2020	CAD	1,786,000	USD	1,351,531		—		(2,035	)
BNP		03/18/2020	CNH	20,886,096	USD	3,014,068		—		(35,157	)
BNP		04/02/2020	USD	9,056,036	BRL	37,300,000		375,130		—
BNP		04/22/2020	USD	2,157,541	MXN	41,551,000		—		(15,010	)
BOA		02/04/2020	USD	1,508,608	AUD	2,172,000		54,584		—
BOA		02/04/2020	AUD	7,157,000	USD	4,934,365		—		(143,183	)
BOA		02/04/2020	CAD	3,079,000	USD	2,336,115		—		(9,562	)
BOA		02/04/2020	EUR	23,464,000	USD	25,864,367		164,671		—
BOA		03/03/2020	USD	2,336,071	CAD	3,079,000		9,590		—
BOA		03/03/2020	USD	25,908,855	EUR	23,464,000		—		(165,400	)
BOA		03/18/2020	CNH	26,899,232	USD	3,867,016		15,555		(46,027	)
CITI		02/04/2020	USD	938,795	CAD	1,242,000		315		—
CITI		02/04/2020	AUD	4,109,000	USD	2,836,414		—		(85,685	)
CITI		02/04/2020	EUR	377,000	USD	416,119		2,094		—
CITI		02/04/2020	CAD	1,242,000	USD	939,160		—		(681	)
CITI		02/14/2020	GBP	4,862,000	USD	6,340,127		82,464		—
CITI		03/03/2020	CAD	1,242,000	USD	938,767		—		(316	)
CITI		03/18/2020	CNH	17,195,000	USD	2,494,195		—		(41,731	)
CITI		04/02/2020	USD	4,561,889	BRL	18,800,000		186,526		—
CITI		07/02/2020	USD	3,989,707	BRL	16,900,000		73,750		—
DUB		03/18/2020	USD	7,917,322	CNH	57,040,343		—		(218,145	)
HSBC		02/04/2020	USD	4,865,263	CAD	6,311,000		96,547		—
HSBC		02/04/2020	EUR	321,000	USD	356,164		—		(73	)
HSBC		02/14/2020	USD	32,525,056	GBP	25,255,000		—		(836,221	)
HSBC		02/14/2020	JPY	2,425,800,000	USD	22,410,584		—		(6,054	)
HSBC		03/18/2020	CNH	26,955,279	USD	3,856,692		19,207		(31,361	)
HSBC		04/22/2020	MXN	42,231,000	USD	2,145,884		62,221		—
JPM		02/04/2020	GBP	5,743,000	USD	7,518,410		66,008		—
JPM		02/04/2020	CAD	5,018,000	USD	3,816,110		—		(24,411	)
JPM		03/18/2020	CNH	16,874,000	USD	2,444,348		—		(37,668	)
RBS		03/18/2020	USD	10,646,093	CNH	76,782,818		—		(305,174	)
SCB		02/04/2020	USD	7,478,403	GBP	5,743,000		—		(106,016	)
SCB		03/03/2020	GBP	5,743,000	USD	7,484,639		105,520		—
SCB		03/18/2020	CNH	25,360,751	USD	3,666,083		—		(48,967	)
UBS		02/04/2020	USD	6,136,631	AUD	9,094,000		48,743		—
UBS		02/04/2020	USD	27,512,127	EUR	24,566,000		260,620		—
UBS		03/03/2020	AUD	9,094,000	USD	6,140,178		—		(49,098	)
Total							$	1,635,635	$	(2,223,730	)

The notes are an integral part of this report. Transamerica Funds Page    15

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(S)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Asset-Backed Securities	$	—		$	78,037,204		$	—	$	78,037,204
Certificate of Deposit		—			3,800,000			—		3,800,000
Corporate Debt Securities		—			319,165,385			—		319,165,385
Foreign Government Obligations		—			43,917,983			—		43,917,983
Mortgage-Backed Securities		—			50,608,548			—		50,608,548
Municipal Government Obligations		—			3,320,914			—		3,320,914
U.S. Government Agency Obligations		—			323,445,732			—		323,445,732
U.S. Government Obligations		—			224,087,553			—		224,087,553
Common Stock		399			—			—		399
Other Investment Company		7,362,020			—			—		7,362,020
Repurchase Agreement		—			149,679			—		149,679
Exchange-Traded Options Purchased		3,056			—			—		3,056
Over-the-Counter Options Purchased		—			1			—		1
Total Investments	$	7,365,475		$	1,046,532,999		$	—	$	1,053,898,474
Other Financial Instruments
Centrally Cleared Credit Default Swap Agreements	$	—		$	109,963		$	—	$	109,963
Centrally Cleared Interest Rate Swap Agreements		—			651,894			—		651,894
Over-the-Counter Credit Default Swap Agreements		—			68,158			—		68,158
Futures Contracts (T)		2,992,476			—			—		2,992,476
Forward Foreign Currency Contracts (T)		—			1,635,635			—		1,635,635
Total Other Financial Instruments	$	2,992,476		$	2,465,650		$	—	$	5,458,126
LIABILITIES
Other Financial Instruments
Reverse Repurchase Agreements	$	—		$	(145,753,864	)	$	—	$	(145,753,864	)
Exchange-Traded Options Written		(58,436	)		—			—		(58,436	)
Over-the-Counter Foreign Exchange Options Written		—			(200,746	)		—		(200,746	)
Centrally Cleared Credit Default Swap Agreements		—			(1,174,522	)		—		(1,174,522	)
Centrally Cleared Interest Rate Swap Agreements		—			(3,316,781	)		—		(3,316,781	)
Over-the-Counter Credit Default Swap Agreements		—			(55,136	)		—		(55,136	)
Futures Contracts (T)		(1,557,137	)		—			—		(1,557,137	)
Forward Foreign Currency Contracts (T)		—			(2,223,730	)		—		(2,223,730	)
Total Other Financial Instruments	$	(1,615,573	)	$	(152,724,779	)	$	—	$	(154,340,352	)

The notes are an integral part of this report. Transamerica Funds Page    16

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(B)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $187,648,646, representing 30.9% of the Fund’s net assets.
(C)	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, 2020, the total value of Regulation S securities is $30,899,940, representing 5.1% of the Fund’s net assets.
(D)	Perpetual maturity. The date displayed is the next call date.
(E)	All or a portion of the securities are on loan. The total value of all securities on loan is $7,209,441. 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)	Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(G)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(H)	Securities are subject to sale-buyback transactions.
(I)	All or a portion of these securities have been segregated by the custodian as collateral for open over-the-counter options, swap agreements and forward foreign currency contracts. The total value of such securities is $1,880,691.
(J)	All or a portion of these securities have been segregated by the custodian as collateral to cover margin requirements for open futures contracts. The total value of such securities is $2,115,143.
(K)	All or a portion of these securities have been segregated by the custodian as collateral for centrally cleared swap agreements. The total value of such securities is $3,574,648.
(L)	Percentage rounds to less than 0.1% or (0.1)%.
(M)	Non-income producing security.
(N)	Rates disclosed reflect the yields at January 31, 2020.
(O)	If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (a) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced obligation or (b) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap agreement less the recovery value of the referenced obligation or underlying securities comprising the referenced obligation.
(P)	Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
(Q)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(R)	The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period ended. Increasing market values, in absolute terms when compared to the notional amount of the swap agreement, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(S)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(T)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

The notes are an integral part of this report. Transamerica Funds Page    17

Transamerica Total Return

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

CURRENCY ABBREVIATIONS:

AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CNH	Chinese Yuan Renminbi (offshore)
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
MXN	Mexican Peso
PEN	Peruvian Sol
USD	United States Dollar

COUNTERPARTY ABBREVIATIONS:

BCLY	Barclays Bank PLC
BNP	BNP Paribas
BOA	Bank of America, N.A.
CITI	Citibank, N.A.
DUB	Deutsche Bank AG
GSB	Goldman Sachs Bank
GSI	Goldman Sachs International
HSBC	HSBC Bank USA
JPM	JPMorgan Chase Bank, N.A.
MLI	Merrill Lynch International
RBS	Royal Bank of Scotland PLC
SCB	Standard Chartered Bank
UBS	UBS AG

PORTFOLIO ABBREVIATIONS:

BTP	Buoni del Tesoro Poliennali (Italian Treasury Bonds)
BUXL	Bundesanleihen (German Long-Term Debt)
CMBS	Commercial Mortgage-Backed Securities
CMT	Constant Maturity Treasury
EURIBOR	Euro Interbank Offer Rate
LIBOR	London Interbank Offered Rate
MTA	Month Treasury Average
MTN	Medium Term Note
OAT	Obligations Assimilables du Tresor (Treasury Obligations)
OTC	Over-the-Counter
SONIA	Sterling Overnight Interbank Average
STRIPS	Separate Trading of Registered Interest and Principal of Securities
TBA	To Be Announced

The notes are an integral part of this report. Transamerica Funds Page    18

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES - 16.3%
AIMCO CLO Trust
Series 2018-AA, Class B,
3-Month LIBOR + 1.40%, 3.24% (A), 04/17/2031 (B)		$  500,000		$  495,498
Series 2018-AA, Class D,
3-Month LIBOR + 2.55%, 4.39% (A), 04/17/2031 (B)		1,500,000		1,458,020
Ally Auto Receivables Trust
Series 2019-4, Class A4,
1.92%, 01/15/2025		1,700,000		1,715,594
American Express Credit Account Master Trust
Series 2017-6, Class A,
2.04%, 05/15/2023		1,000,000		1,003,087
Series 2018-4, Class A,
2.99%, 12/15/2023		1,425,000		1,451,580
Series 2018-8, Class A,
3.18%, 04/15/2024		3,146,000		3,231,289
Series 2019-1, Class A,
2.87%, 10/15/2024		4,000,000		4,116,922
Series 2019-2, Class A,
2.67%, 11/15/2024		2,000,000		2,050,496
AmeriCredit Automobile Receivables Trust
Series 2019-1, Class A3,
2.97%, 11/20/2023		1,880,000		1,911,940
Ares XXXIIR CLO, Ltd.
Series 2014-32RA, Class E,
3-Month LIBOR + 8.40%, 10.31% (A), 05/15/2030 (B)		3,400,000		3,186,946
Ares XXXVII CLO, Ltd.
Series 2015-4A, Class ER,
3-Month LIBOR + 7.27%, 9.10% (A), 10/15/2030 (B)		4,000,000		3,436,592
Avery Point VI CLO, Ltd.
Series 2015-6A, Class F,
3-Month LIBOR + 6.80%, 8.69% (A), 08/05/2027 (B)		2,000,000		1,790,216
BA Credit Card Trust
Series 2017-A2, Class A2,
1.84%, 01/17/2023		1,000,000		1,000,803
Series 2018-A1, Class A1,
2.70%, 07/17/2023		1,500,000		1,517,321
Series 2018-A2, Class A2,
3.00%, 09/15/2023		960,000		976,402
Beechwood Park CLO, Ltd.
Series 2019-1A, Class A1,
3-Month LIBOR + 1.33%, 3.23% (A), 01/17/2033 (B)		5,000,000		5,014,215
Benefit Street Partners CLO XVII, Ltd.
Series 2019-17A, Class B,
3-Month LIBOR + 1.85%, 3.68% (A), 07/15/2032 (B)		400,000		400,856
BMW Vehicle Lease Trust
Series 2019-1, Class A4,
2.92%, 08/22/2022		1,730,000		1,758,509

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Canyon Capital CLO, Ltd.
Series 2019-2A, Class A,
3-Month LIBOR + 1.37%, 3.46% (A), 10/15/2032 (B)		$   500,000		$   501,745
Capital One Multi-Asset Execution Trust
Series 2017-A4, Class A4,
1.99%, 07/17/2023		2,000,000		2,004,518
Series 2019-A1, Class A1,
2.84%, 12/15/2024		2,240,000		2,300,024
Series 2019-A2, Class A2,
1.72%, 08/15/2024		3,864,000		3,886,409
Capital One Prime Auto Receivables Trust
Series 2019-1, Class A4,
2.56%, 10/15/2024		1,650,000		1,689,251
Series 2019-2, Class A3,
1.92%, 05/15/2024		1,966,000		1,980,392
CarMax Auto Owner Trust
Series 2017-4, Class A4,
2.33%, 05/15/2023		3,100,000		3,131,455
Series 2018-4, Class A3,
3.36%, 09/15/2023		570,000		584,240
Series 2019-2, Class A3,
2.68%, 03/15/2024		1,155,000		1,176,898
Series 2019-3, Class A3,
2.18%, 08/15/2024		2,000,000		2,025,602
Cedar Funding VII CLO, Ltd.
Series 2018-7A, Class C,
3-Month LIBOR + 1.75%, 3.57% (A), 01/20/2031 (B)		750,000		721,109
Series 2018-7A, Class D,
3-Month LIBOR + 2.55%, 4.37% (A), 01/20/2031 (B)		3,000,000		2,855,502
Cedar Funding X CLO, Ltd.
Series 2019-10A, Class A,
3-Month LIBOR + 1.34%, 3.47% (A), 10/20/2032 (B)		325,000		325,306
Citibank Credit Card Issuance Trust
Series 2018-A7, Class A7,
3.96%, 10/13/2030		1,000,000		1,150,933
Discover Card Execution Note Trust
Series 2019-A1, Class A1,
3.04%, 07/15/2024		3,040,000		3,129,953
Dryden 53 CLO, Ltd.
Series 2017-53A, Class B,
3-Month LIBOR + 1.40%, 3.23% (A), 01/15/2031 (B)		1,400,000		1,399,157
Dryden 55 CLO, Ltd.
Series 2018-55A, Class F,
3-Month LIBOR + 7.20%, 9.03% (A), 04/15/2031 (B)		3,000,000		2,655,984
Dryden 80 CLO, Ltd.
Series 2019-80A, Class A1,
3-Month LIBOR + 1.33%, 3.21% (A), 01/17/2033 (B)		5,500,000		5,512,397
Series 2019-80A, Class B,
3-Month LIBOR + 1.90%, 3.78% (A), 01/17/2033 (B)		4,000,000		4,020,420
Elm CLO, Ltd.
Series 2014-1A, Class CRR,
3-Month LIBOR + 2.35%, 4.19% (A), 01/17/2029 (B)		1,000,000		999,985

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Ford Credit Auto Owner Trust
Series 2016-C, Class B,
1.73%, 03/15/2022		$   1,635,000		$   1,633,829
Ford Credit Floorplan Master Owner Trust
Series 2017-3, Class A,
2.48%, 09/15/2024		2,750,000		2,810,548
GM Financial Consumer Automobile Receivables Trust
Series 2017-3A, Class A4,
2.13%, 03/16/2023 (B)		300,000		302,005
Series 2019-3, Class A3,
2.18%, 04/16/2024		4,040,000		4,088,899
Series 2020-1, Class A3,
1.84%, 09/16/2024 (C)		800,000		805,762
Greenwood Park CLO, Ltd.
Series 2018-1A, Class E,
3-Month LIBOR + 4.95%, 6.78% (A), 04/15/2031 (B)		1,500,000		1,439,748
Hayfin Kingsland VIII, Ltd.
Series 2018-8A, Class A,
3-Month LIBOR + 1.12%, 2.94% (A), 04/20/2031 (B)		650,000		646,458
Series 2018-8A, Class B,
3-Month LIBOR + 1.48%, 3.30% (A), 04/20/2031 (B)		725,000		715,782
Hertz Vehicle Financing II, LP
Series 2017-1A, Class A,
2.96%, 10/25/2021 (B)		1,408,000		1,417,322
Series 2019-3A, Class A,
2.67%, 12/26/2025 (B)		1,470,000		1,500,078
Honda Auto Receivables Owner Trust
Series 2019-1, Class A3,
2.83%, 03/20/2023		1,120,000		1,140,704
Series 2019-2, Class A4,
2.54%, 03/21/2025		2,000,000		2,047,613
HPS Loan Management, Ltd.
Series 15A-19, Class B,
3-Month LIBOR + 1.80%, 3.60% (A), 07/22/2032 (B)		1,000,000		1,002,900
Madison Park Funding XXX, Ltd.
Series 2018-30A, Class C,
3-Month LIBOR + 1.70%, 3.53% (A), 04/15/2029 (B)		475,000		473,277
Madison Park Funding XXXVI, Ltd.
Series 2019-36A, Class B1,
3-Month LIBOR + 1.85%, 1.85% (A), 01/15/2033 (B)		8,000,000		8,034,888
Magnetite VIII, Ltd.
Series 2014-8A, Class FR2,
3-Month LIBOR + 7.44%, 9.27% (A), 04/15/2031 (B)		2,000,000		1,882,278
Magnetite XXIV, Ltd.
Series 2019-24A, Class B,
3-Month LIBOR + 1.85%, 3.76% (A), 01/15/2033 (B)		2,250,000		2,260,220
Marble Point CLO, Ltd.
Series 2018-2A, Class A1,
3-Month LIBOR + 1.33%, 3.15% (A), 01/20/2032 (B)		4,750,000		4,754,109

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Mariner CLO LLC
Series 2015-1A, Class CR,
3-Month LIBOR + 2.50%, 4.32% (A), 04/20/2029 (B)		$   3,000,000		$   2,999,964
Mariner CLO, Ltd.
Series 2018-5A, Class E,
3-Month LIBOR + 5.65%, 7.44% (A), 04/25/2031 (B)		4,000,000		3,907,740
Mercedes-Benz Auto Lease Trust
Series 2018-B, Class A4,
3.31%, 07/15/2024		2,619,000		2,663,425
Series 2019-A, Class A4,
3.25%, 10/15/2024		313,000		319,307
Neuberger Berman CLO, Ltd.
3-Month LIBOR + 1.03%, 1.00% (A), 01/28/2030 (B) (D)		2,425,000		2,425,000
Neuberger Berman Loan Advisers CLO 34, Ltd.
Series 2019-34A, Class A1,
3-Month LIBOR + 1.32%, 0.00% (A), 01/20/2033 (B)		7,550,000		7,587,871
Nissan Auto Receivables Owner Trust
Series 2017-A, Class A4,
2.11%, 05/15/2023		1,000,000		1,004,311
Series 2017-B, Class A4,
1.95%, 10/16/2023		1,000,000		1,004,056
Series 2018-A, Class A3,
2.65%, 05/16/2022		1,362,914		1,370,057
Series 2019-C, Class A3,
1.93%, 07/15/2024		2,000,000		2,016,506
Octagon Investment Partners 18-R, Ltd.
Series 2018-18A, Class E,
3-Month LIBOR + 8.25%, 10.09% (A), 04/16/2031 (B)		1,625,000		1,392,214
OHA Credit Funding 3, Ltd.
Series 2019-3A, Class B1,
3-Month LIBOR + 1.80%, 3.62% (A), 07/20/2032 (B)		1,500,000		1,504,116
OHA Loan Funding, Ltd.
3-Month LIBOR + 1.26%, 1.00% (A), 01/20/2033 (B)		1,000,000		1,000,000
3-Month LIBOR + 1.60%, 1.00% (A), 01/20/2033 (B)		2,375,000		2,375,000
Series 2015-1A, Class B1R2,
3-Month LIBOR + 1.90%, 3.75% (A), 11/15/2032 (B)		3,000,000		3,013,620
Post CLO, Ltd.
Series 2018-1A, Class C,
3-Month LIBOR + 2.00%, 3.84% (A), 04/16/2031 (B)		3,075,000		3,047,919
RR 7, Ltd.
Series 2019-7A, Class A1B,
3-Month LIBOR + 1.65%, 3.48% (A), 01/15/2033 (B)		7,100,000		7,112,233
Series 2019-7A, Class A2,
3-Month LIBOR + 2.00%, 3.83% (A), 01/15/2033 (B)		4,675,000		4,695,607

The notes are an integral part of this report. Transamerica Funds Page    2

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
ASSET-BACKED SECURITIES (continued)
Southwick Park CLO LLC
Series 2019-4A, Class A1,
3-Month LIBOR + 1.30%, 3.12% (A), 07/20/2032 (B)		$   2,500,000		$   2,504,345
Stewart Park CLO, Ltd.
Series 2015-1A, Class ER,
3-Month LIBOR + 5.28%, 7.11% (A), 01/15/2030 (B)		3,500,000		3,319,698
TCW CLO, Ltd.
3-Month LIBOR + 2.00%, 1.00% (A), 02/15/2029 (B) (D)		1,000,000		1,000,250
Toyota Auto Loan Extended Note Trust
Series 2019-1A, Class A,
2.56%, 11/25/2031 (B)		2,815,000		2,916,031
Toyota Auto Receivables Owner Trust
Series 2018-B, Class A3,
2.96%, 09/15/2022		1,000,000		1,011,577
Series 2018-C, Class A4,
3.13%, 02/15/2024		900,000		929,862
Series 2019-B, Class A3,
2.57%, 08/15/2023		2,815,000		2,865,176
Verizon Owner Trust
Series 2018-1A, Class C,
3.20%, 09/20/2022 (B)		1,200,000		1,220,242
Voya CLO, Ltd.
Series 2018-1A, Class B,
3-Month LIBOR + 1.80%, 3.62% (A), 04/19/2031 (B)		750,000		728,805
Whitebox CLO, Ltd.
Series 2019-1A, Class ANA,
3-Month LIBOR + 1.41%, 3.21% (A), 07/24/2032 (B)		6,000,000		6,014,952
World Financial Network Credit Card Master Trust
Series 2019-C, Class M,
2.71%, 07/15/2026		2,200,000		2,215,418
York CLO, Ltd.
Series 2015-1A, Class AR,
3-Month LIBOR + 1.15%, 2.95% (A), 01/22/2031 (B)		5,000,000		4,995,005
Total Asset-Backed Securities (Cost $194,840,229)				194,684,293
CORPORATE DEBT SECURITIES - 52.3%
Aerospace & Defense - 0.4%
BAE Systems Holdings, Inc.
3.85%, 12/15/2025 (B)		518,000		562,122
L3 Harris Technologies, Inc.
2.90%, 12/15/2029		222,000		231,444
Lockheed Martin Corp.
3.10%, 01/15/2023		1,498,000		1,559,335
Moog, Inc.
4.25%, 12/15/2027 (B)		222,000		227,583
United Technologies Corp.
1.15%, 05/18/2024		EUR  2,325,000		2,688,205
				5,268,689

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Air Freight & Logistics - 0.1%
Cargo Aircraft Management, Inc.
4.75%, 02/01/2028 (B)		$  147,000		$   149,211
United Parcel Service, Inc.
3-Month LIBOR + 0.45%, 2.36% (A), 04/01/2023		1,500,000		1,507,686
				1,656,897
Auto Components - 0.0% (E)
Allison Transmission, Inc.
5.00%, 10/01/2024 (B)		250,000		254,692
Dana, Inc.
5.38%, 11/15/2027		167,000		172,219
Delphi Technologies PLC
5.00%, 10/01/2025 (B)		91,000		100,783
				527,694
Automobiles - 0.7%
FCE Bank PLC
1.11%, 05/13/2020, MTN (F)		EUR  3,750,000		4,170,914
Tesla, Inc.
5.30%, 08/15/2025 (B) (C)		$  250,000		252,505
Volkswagen International Finance NV
1.88%, 03/30/2027 (F)		EUR  2,900,000		3,469,156
				7,892,575
Banks - 15.1%
ADCB Finance Cayman, Ltd.
4.00%, 03/29/2023, MTN (F)		$  1,600,000		1,672,000
4.50%, 03/06/2023, MTN (F)		600,000		630,240
Al Ahli Bank of Kuwait KSCP
3.50%, 04/05/2022 (F)		1,000,000		1,018,830
Australia & New Zealand Banking Group, Ltd.
Fixed until 07/22/2025, 2.95% (A), 07/22/2030 (B)		261,000		264,589
Fixed until 06/15/2026 (G), 6.75% (A) (B)		563,000		646,746
Banco Bilbao Vizcaya Argentaria SA
1.38%, 05/14/2025, MTN (F)		EUR  2,200,000		2,573,889
Fixed until 03/05/2025 (G), 6.50% (A)		$  1,309,000		1,394,085
Banco de Credito e Inversiones SA
3.50%, 10/12/2027 (F)		1,500,000		1,546,419
Banco Inbursa SA Institucion de Banca Multiple Grupo Financiero Inbursa
4.38%, 04/11/2027 (F)		1,800,000		1,903,500
Banco Internacional del Peru SAA Interbank
3.38%, 01/18/2023, MTN (F)		1,000,000		1,021,500
Banco Santander SA
3-Month LIBOR + 1.12%, 2.97% (A), 04/12/2023		1,000,000		1,008,528
3.31%, 06/27/2029		200,000		213,206
3-Month LIBOR + 1.56%, 3.41% (A), 04/11/2022		1,000,000		1,019,899
Fixed until 09/11/2021 (G), 6.25% (A) (F)		EUR  1,000,000		1,186,639
Bank of America Corp.
3-Month LIBOR + 0.38%, 2.19% (A), 01/23/2022		$  1,000,000		1,001,450
2.38%, 06/19/2024, MTN (F)		EUR  2,895,000		3,534,786
Fixed until 10/22/2024, 2.46% (A), 10/22/2025, MTN		$  711,000		726,347
2.63%, 04/19/2021, MTN		1,934,000		1,957,111
3-Month LIBOR + 1.16%, 2.98% (A), 01/20/2023, MTN		2,000,000		2,033,049
Fixed until 04/24/2027, 3.71% (A), 04/24/2028		455,000		496,591

The notes are an integral part of this report. Transamerica Funds Page    3

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Bank of America NA
Fixed until 01/25/2022, 3.34% (A), 01/25/2023		$   282,000		$   290,447
Bank of China, Ltd.
5.00%, 11/13/2024 (C) (F)		1,000,000		1,101,912
Bank of Montreal
2.05%, 11/01/2022, MTN		949,000		957,982
Bank of Nova Scotia
3-Month LIBOR + 0.62%, 2.52% (A), 09/19/2022		1,000,000		1,009,776
BankUnited, Inc.
4.88%, 11/17/2025		418,000		467,087
Barclays PLC
Fixed until 09/15/2023 (G), 7.75% (A)		3,150,000		3,449,250
Fixed until 03/15/2022 (G), 7.88% (A) (F)		4,000,000		4,330,000
Fixed until 06/15/2024 (G), 8.00% (A)		2,963,000		3,344,071
BNP Paribas SA
Fixed until 01/13/2030, 3.05% (A), 01/13/2031 (B)		676,000		694,710
Fixed until 01/10/2024, 4.71% (A), 01/10/2025 (B)		1,804,000		1,975,025
Fixed until 03/14/2022 (G), 6.75% (A) (B)		3,305,000		3,511,562
Fixed until 08/16/2028 (G), 7.00% (A) (B)		1,410,000		1,667,325
Fixed until 03/30/2021 (G), 7.63% (A) (B)		400,000		421,000
BPCE SA
3-Month LIBOR + 1.22%, 3.12% (A), 05/22/2022 (B)		2,000,000		2,032,545
4.63%, 07/18/2023 (F)		EUR  4,000,000		5,104,289
Canadian Imperial Bank of Commerce
3-Month LIBOR + 0.32%, 2.08% (A), 02/02/2021		$  2,500,000		2,504,243
2.25%, 01/28/2025		557,000		562,174
CBQ Finance, Ltd.
5.00%, 05/24/2023, MTN (F)		1,900,000		2,038,130
Citigroup, Inc.
3-Month LIBOR + 1.02%, 2.93% (A), 06/01/2024		1,000,000		1,014,152
3-Month LIBOR + 1.19%, 2.95% (A), 08/02/2021		1,000,000		1,013,093
3-Month LIBOR + 1.07%, 2.96% (A), 12/08/2021		1,000,000		1,013,971
Fixed until 06/01/2023, 4.04% (A), 06/01/2024		706,000		752,867
4.45%, 09/29/2027		393,000		441,175
Citizens Bank NA
2.25%, 03/02/2020		300,000		300,109
Citizens Financial Group, Inc.
4.30%, 12/03/2025		227,000		249,545
Construction Bank Corp.
Fixed until 05/13/2020, 3.88% (A), 05/13/2025 (F)		1,500,000		1,504,200
Credit Agricole SA
Fixed until 01/23/2024 (G), 7.88% (A) (B)		4,000,000		4,550,000
Fixed until 12/23/2025 (G), 8.13% (A) (B)		1,553,000		1,884,286
Danske Bank A/S
0.88%, 05/22/2023, MTN (F)		EUR  3,750,000		4,227,799
Fixed until 12/20/2024, 3.24% (A), 12/20/2025 (B)		$  210,000		217,340
3.88%, 09/12/2023 (B)		200,000		210,369
Fixed until 06/26/2025 (G), 7.00% (A) (F)		500,000		556,875
DBS Group Holdings, Ltd.
2.85%, 04/16/2022 (B)		202,000		205,716
Fifth Third Bancorp
2.88%, 07/27/2020		1,279,000		1,284,586

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
First Abu Dhabi Bank PJSC
3.00%, 03/30/2022, MTN (F)		$   1,300,000		$   1,318,616
HSBC Holdings PLC
3.40%, 03/08/2021		283,000		288,041
3-Month LIBOR + 1.50%, 3.40% (A), 01/05/2022		2,000,000		2,045,818
Fixed until 03/11/2024, 3.80% (A), 03/11/2025		1,200,000		1,274,160
Fixed until 03/30/2025 (G), 6.38% (A)		3,000,000		3,281,730
ING Groep NV
3-Month LIBOR + 1.00%, 2.91% (A), 10/02/2023		1,000,000		1,013,776
Fixed until 11/16/2026 (G), 5.75% (A)		2,050,000		2,194,525
Fixed until 04/16/2025 (G), 6.50% (A)		1,500,000		1,651,800
JPMorgan Chase & Co.
2.30%, 08/15/2021, MTN		543,000		544,423
3-Month LIBOR + 0.55%, 2.44% (A), 03/09/2021		3,000,000		3,001,223
2.55%, 10/29/2020		1,284,000		1,290,791
Fixed until 04/01/2022, 3.21% (A), 04/01/2023		1,076,000		1,107,625
Fixed until 01/23/2028, 3.51% (A), 01/23/2029		522,000		566,171
3-Month LIBOR + 3.47%, 5.24% (A), 04/30/2020 (G)		1,549,000		1,558,309
Kreditanstalt fuer Wiederaufbau
1.63%, 03/15/2021		729,000		730,211
Lloyds Banking Group PLC
Fixed until 01/15/2023, 0.63% (A), 01/15/2024, MTN (F)		EUR  3,930,000		4,406,840
Fixed until 06/27/2026 (G), 6.75% (A)		$  1,881,000		2,102,018
Fixed until 06/27/2024 (G), 7.50% (A)		3,300,000		3,698,145
Malayan Banking Bhd.
Fixed until 10/29/2021, 3.91% (A), 10/29/2026 (F)		1,200,000		1,226,508
Mitsubishi UFJ Financial Group, Inc.
3.41%, 03/07/2024		678,000		717,259
Mizuho Financial Group, Inc.
Fixed until 09/13/2024, 2.56% (A), 09/13/2025		968,000		983,075
National Australia Bank, Ltd.
3-Month LIBOR + 1.00%, 2.85% (A), 07/12/2021 (B)		1,300,000		1,316,455
Fixed until 08/02/2029, 3.93% (A), 08/02/2034 (B)		200,000		212,651
National Bank of Canada
2.15%, 10/07/2022 (B)		329,000		331,509
National Westminster Bank PLC
3-Month EURIBOR + 2.15%, 1.77% (A), 04/05/2020, MTN (G)		EUR  2,900,000		3,196,534
NatWest Markets PLC
3.63%, 09/29/2022 (B)		$  1,192,000		1,241,084
Nordea Bank Abp
Fixed until 03/26/2026 (G), 6.63% (A) (B) (C)		2,721,000		3,069,587
Oversea-Chinese Banking Corp., Ltd.
4.25%, 06/19/2024, MTN (F)		1,300,000		1,398,254
Philippine National Bank
3.28%, 09/27/2024, MTN (C) (F)		2,000,000		2,046,875
PNC Bank NA
3-Month LIBOR + 0.50%, 2.29% (A), 07/27/2022		1,700,000		1,712,404
Powszechna Kasa Oszczednosci Bank Polski SA Via PKO Finance AB
4.63%, 09/26/2022 (F)		1,750,000		1,852,085

The notes are an integral part of this report. Transamerica Funds Page    4

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
QNB Finance, Ltd.
2.13%, 09/07/2021, MTN (F)		$   1,250,000		$   1,243,569
3.50%, 03/28/2024, MTN (F)		550,000		570,779
Royal Bank of Canada
3-Month LIBOR + 0.47%, 2.24% (A), 04/29/2022, MTN (C)		1,000,000		1,004,847
Royal Bank of Scotland Group PLC
Fixed until 03/02/2025, 1.75% (A), 03/02/2026, MTN (F)		EUR  4,500,000		5,265,654
3-Month LIBOR + 1.55%, 3.50% (A), 06/25/2024		$  1,000,000		1,021,030
Fixed until 11/01/2024, 3.75% (A), 11/01/2029		413,000		429,042
Fixed until 03/22/2024, 4.27% (A), 03/22/2025		287,000		308,317
Fixed until 08/15/2021 (G), 8.63% (A)		4,557,000		4,921,560
Shinhan Bank Co., Ltd.
3.88%, 03/24/2026, MTN (F)		2,200,000		2,340,152
Skandinaviska Enskilda Banken AB
Fixed until 05/28/2021, 2.50% (A), 05/28/2026, MTN (F)		EUR  3,250,000		3,703,352
Fixed until 05/13/2020 (G), 5.75% (A), MTN (F)		$  2,875,000		2,892,284
Societe Generale SA
Fixed until 12/18/2023 (G), 7.88% (A) (B) (C)		2,000,000		2,260,000
Standard Chartered PLC
Fixed until 04/02/2022 (G), 7.50% (A) (B)		3,488,000		3,727,800
Sumitomo Mitsui Financial Group, Inc.
3-Month LIBOR + 0.74%, 2.56% (A), 10/18/2022		2,000,000		2,012,989
Truist Bank
3.20%, 04/01/2024		1,443,000		1,518,452
Fixed until 08/02/2021, 3.50% (A), 08/02/2022		265,000		271,730
UniCredit SpA
3-Month LIBOR + 3.90%, 5.74% (A), 01/14/2022 (B)		1,000,000		1,051,005
Fixed until 06/19/2027, 5.86% (A), 06/19/2032 (B) (C)		200,000		214,214
Fixed until 04/02/2029, 7.30% (A), 04/02/2034 (B)		200,000		236,309
United Overseas Bank, Ltd.
Fixed until 09/16/2021, 3.50% (A), 09/16/2026, MTN (F)		1,300,000		1,320,735
Wells Fargo & Co.
3-Month LIBOR + 1.11%, 2.91% (A), 01/24/2023		4,000,000		4,061,438
4.30%, 07/22/2027, MTN		2,526,000		2,829,184
4.65%, 11/04/2044, MTN		393,000		474,039
Wells Fargo Bank NA
Fixed until 09/09/2021, 2.08% (A), 09/09/2022		490,000		492,083
Westpac Banking Corp.
3-Month LIBOR + 0.57%, 2.42% (A), 01/11/2023		2,000,000		2,011,811
Woori Bank
5.13%, 08/06/2028, MTN (F)		1,900,000		2,208,332
Zions Bancorp NA
3.25%, 10/29/2029		431,000		436,337
				180,942,561

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Beverages - 0.2%
Anheuser-Busch InBev Worldwide, Inc.
4.75%, 01/23/2029		$   326,000		$   385,759
Heineken NV
3.50%, 01/29/2028 (B)		914,000		992,759
Keurig Dr. Pepper, Inc.
4.42%, 05/25/2025		539,000		598,596
				1,977,114
Building Products - 0.0% (E)
Standard Industries, Inc.
6.00%, 10/15/2025 (B)		375,000		391,406
Capital Markets - 3.7%
Ameriprise Financial, Inc.
3.00%, 03/22/2022		363,000		372,128
Charles Schwab Corp.
3.85%, 05/21/2025		973,000		1,073,445
Credit Suisse AG
2.10%, 11/12/2021		378,000		380,516
Fixed until 09/18/2020, 5.75% (A), 09/18/2025 (F)		EUR  4,500,000		5,159,160
Credit Suisse Group AG
Fixed until 07/17/2024, 1.25% (A), 07/17/2025, MTN (F)		2,925,000		3,379,568
Fixed until 07/17/2023 (G), 7.50% (A) (B)		$  1,745,000		1,922,728
Fixed until 12/11/2023 (G), 7.50% (A) (B)		1,700,000		1,927,198
Deutsche Bank AG
3-Month LIBOR + 1.23%, 3.15% (A), 02/27/2023		2,500,000		2,485,515
4.25%, 02/04/2021		151,000		153,839
Donnelley Financial Solutions, Inc.
8.25%, 10/15/2024		249,000		258,338
FS Energy & Power Fund
7.50%, 08/15/2023 (B)		172,000		177,163
Goldman Sachs Group, Inc.
2.35%, 11/15/2021		1,879,000		1,887,618
3-Month LIBOR + 1.16%, 2.97% (A), 04/23/2020		2,000,000		2,003,015
3-Month LIBOR + 1.36%, 3.15% (A), 04/23/2021		1,000,000		1,013,880
4.25%, 10/21/2025		485,000		535,873
LPL Holdings, Inc.
5.75%, 09/15/2025 (B)		325,000		338,812
Morgan Stanley
3-Month LIBOR + 0.55%, 2.45% (A), 02/10/2021, MTN		3,000,000		3,000,347
3.63%, 01/20/2027		1,121,000		1,216,224
5.50%, 07/24/2020, MTN		546,000		555,621
MSCI, Inc.
4.00%, 11/15/2029 (B)		260,000		265,525
Nomura Holdings, Inc.
3.10%, 01/16/2030		317,000		324,192
SURA Asset Management SA
4.38%, 04/11/2027 (F)		750,000		810,000
4.88%, 04/17/2024 (F)		1,550,000		1,670,125
UBS AG
3-Month LIBOR + 0.85%, 2.76% (A), 06/01/2020		1,700,000		1,704,698
Fixed until 02/12/2021, 4.75% (A), 02/12/2026, MTN (F)		EUR  3,700,000		4,283,035
UBS Group AG
Fixed until 08/15/2022, 2.86% (A), 08/15/2023 (B)		$  1,417,000		1,447,939

The notes are an integral part of this report. Transamerica Funds Page    5

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Capital Markets (continued)
UBS Group AG (continued)
3-Month LIBOR + 1.22%, 3.13% (A), 05/23/2023 (B)		$   2,000,000		$   2,032,419
Fixed until 01/31/2024 (G), 7.00% (A) (B)		3,225,000		3,551,080
				43,930,001
Chemicals - 1.3%
Albemarle Wodgina Pty, Ltd.
3.45%, 11/15/2029 (B)		196,000		203,151
Braskem Finance BV
4.50%, 01/31/2030 (B)		1,626,000		1,634,455
Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co., LP
3.30%, 05/01/2023 (B)		162,000		167,962
CNAC Finbridge Co., Ltd.
4.88%, 03/14/2025 (F)		1,800,000		1,969,838
Consolidated Energy Finance SA
6.88%, 06/15/2025 (B)		135,000		133,819
Dow Chemical Co.
4.80%, 11/30/2028		256,000		297,621
Eastman Chemical Co.
1.50%, 05/26/2023		EUR  1,890,000		2,195,220
Ecolab, Inc.
2.38%, 08/10/2022		$  868,000		881,342
Equate Petrochemical BV
3.00%, 03/03/2022 (F)		1,700,000		1,711,696
Huntsman International LLC
4.50%, 05/01/2029		430,000		468,469
OCI NV
5.25%, 11/01/2024 (B)		200,000		206,000
Praxair, Inc.
2.25%, 09/24/2020		664,000		666,804
Sasol Financing USA LLC
6.50%, 09/27/2028		1,400,000		1,565,885
Westlake Chemical Corp.
1.63%, 07/17/2029		EUR  2,890,000		3,241,480
				15,343,742
Commercial Services & Supplies - 0.2%
Ahern Rentals, Inc.
7.38%, 05/15/2023 (B)		$  325,000		257,563
Ashtead Capital, Inc.
4.25%, 11/01/2029 (B)		155,000		161,200
Clean Harbors, Inc.
4.88%, 07/15/2027 (B)		192,000		202,061
GW B-CR Security Corp.
9.50%, 11/01/2027 (B)		294,000		313,845
Harsco Corp.
5.75%, 07/31/2027 (B)		325,000		332,312
Prime Security Services Borrower LLC / Prime Finance, Inc.
5.25%, 04/15/2024 (B)		350,000		364,875
5.75%, 04/15/2026 (B)		95,000		100,225
Sotheby’s
7.38%, 10/15/2027 (B) (C)		220,000		224,103
Waste Connections, Inc.
2.60%, 02/01/2030		326,000		329,993
				2,286,177
Construction & Engineering - 0.1%
ABB Finance USA, Inc.
3.38%, 04/03/2023		407,000		426,655

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Construction & Engineering (continued)
Mattamy Group Corp.
5.25%, 12/15/2027 (B)		$   226,000		$   236,170
Tutor Perini Corp.
6.88%, 05/01/2025 (B) (C)		144,000		135,360
				798,185
Consumer Finance - 2.3%
Altice Financing SA
5.00%, 01/15/2028 (B)		456,000		447,569
American Express Co.
3-Month LIBOR + 0.65%, 2.57% (A), 02/27/2023		2,500,000		2,518,641
3.40%, 02/22/2024		296,000		313,470
4.20%, 11/06/2025 (C)		249,000		279,192
BMW US Capital LLC
3-Month LIBOR + 0.41%, 2.26% (A), 04/12/2021 (B)		1,000,000		1,002,218
3-Month LIBOR + 0.38%, 2.28% (A), 04/06/2020 (B)		1,000,000		1,000,842
3.10%, 04/12/2021 (B)		416,000		422,949
Capital One Financial Corp.
3-Month LIBOR + 0.95%, 2.84% (A), 03/09/2022		1,000,000		1,011,535
Capital One NA
3-Month LIBOR + 1.15%, 2.92% (A), 01/30/2023		1,454,000		1,471,492
Credit Acceptance Corp.
6.63%, 03/15/2026 (B)		475,000		511,812
Daimler Finance North America LLC
2.00%, 07/06/2021 (B)		814,000		814,814
3-Month LIBOR + 0.45%, 2.35% (A), 02/22/2021 (B)		1,500,000		1,503,433
Enova International, Inc.
8.50%, 09/15/2025 (B) (C)		203,000		201,443
Ford Motor Credit Co. LLC
2.39%, 02/17/2026		EUR  3,300,000		3,747,700
3.10%, 05/04/2023		$  427,000		430,041
3-Month LIBOR + 1.24%, 3.14% (A), 02/15/2023		500,000		494,031
4.39%, 01/08/2026, MTN		256,000		263,790
General Motors Financial Co., Inc.
3-Month LIBOR + 0.93%, 2.78% (A), 04/13/2020		1,000,000		1,001,590
3-Month LIBOR + 1.10%, 3.01% (A), 11/06/2021		1,000,000		1,005,148
3.20%, 07/06/2021		1,068,000		1,084,753
3.70%, 05/09/2023		508,000		527,881
goeasy, Ltd.
5.38%, 12/01/2024 (B)		256,000		262,080
Hyundai Capital America
3.40%, 06/20/2024 (B)		581,000		603,830
3.50%, 11/02/2026 (B)		390,000		407,079
John Deere Capital Corp.
2.35%, 01/08/2021, MTN		349,000		351,230
3-Month LIBOR + 0.55%, 2.44% (A), 06/07/2023, MTN		1,000,000		1,007,408
2.95%, 04/01/2022, MTN		670,000		688,390
3.45%, 01/10/2024, MTN		461,000		490,532
3.65%, 10/12/2023		183,000		195,798
Navient Corp.
5.00%, 03/15/2027		150,000		149,625
5.63%, 08/01/2033, MTN		260,000		235,950
PACCAR Financial Corp.
2.00%, 09/26/2022, MTN		187,000		188,807
Springleaf Finance Corp.
5.38%, 11/15/2029		118,000		122,708
6.88%, 03/15/2025		300,000		338,250

The notes are an integral part of this report. Transamerica Funds Page    6

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Finance (continued)
Synchrony Financial
2.85%, 07/25/2022		$   145,000		$   147,814
4.50%, 07/23/2025		822,000		893,511
Toyota Motor Credit Corp.
3.45%, 09/20/2023, MTN		517,000		548,954
Volkswagen Group of America Finance LLC
2.50%, 09/24/2021 (B)		200,000		201,895
				26,888,205
Containers & Packaging - 0.2%
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
5.25%, 08/15/2027 (B)		325,000		340,844
Berry Global, Inc.
4.50%, 02/15/2026 (B) (C)		169,000		171,535
Cascades, Inc. / Cascades USA, Inc.
5.13%, 01/15/2026 (B)		36,000		37,170
5.38%, 01/15/2028 (B)		175,000		181,073
Crown Cork & Seal Co., Inc.
7.38%, 12/15/2026		54,000		63,855
Intertape Polymer Group, Inc.
7.00%, 10/15/2026 (B) (C)		315,000		333,112
Owens-Brockway Glass Container, Inc.
5.38%, 01/15/2025 (B) (C)		250,000		265,937
Sealed Air Corp.
5.13%, 12/01/2024 (B)		209,000		225,720
Silgan Holdings, Inc.
4.75%, 03/15/2025		375,000		382,500
Trivium Packaging Finance BV
8.50%, 08/15/2027 (B)		200,000		220,000
				2,221,746
Distributors - 0.1%
American Builders & Contractors Supply Co., Inc.
4.00%, 01/15/2028 (B)		250,000		252,060
Anixter, Inc.
6.00%, 12/01/2025		383,000		405,980
Ingram Micro, Inc.
5.45%, 12/15/2024		490,000		523,297
				1,181,337
Diversified Consumer Services - 0.0% (E)
frontdoor, Inc.
6.75%, 08/15/2026 (B)		225,000		245,960
Diversified Financial Services - 0.4%
Fairstone Financial, Inc.
7.88%, 07/15/2024 (B)		320,000		346,000
GE Capital International Funding Unlimited Co.
3.37%, 11/15/2025		751,000		796,670
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.25%, 02/01/2027 (B)		159,000		158,684
National Rural Utilities Cooperative Finance Corp.
2.85%, 01/27/2025		1,116,000		1,168,041
Fixed until 04/30/2023, 4.75% (A), 04/30/2043		1,098,000		1,147,849
Quicken Loans, Inc.
5.75%, 05/01/2025 (B)		380,000		393,300

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified Financial Services (continued)
USAA Capital Corp.
2.63%, 06/01/2021, MTN (B)		$   367,000		$   372,015
Voya Financial, Inc.
Fixed until 01/23/2028, 4.70% (A), 01/23/2048		268,000		273,360
				4,655,919
Diversified Telecommunication Services - 2.0%
AT&T, Inc.
3-Month LIBOR + 1.18%, 3.07% (A), 06/12/2024		2,000,000		2,035,657
3.15%, 09/04/2036		EUR  2,050,000		2,767,449
3.40%, 05/15/2025		$  2,037,000		2,161,359
4.50%, 05/15/2035		335,000		385,541
CenturyLink, Inc.
7.50%, 04/01/2024		525,000		592,373
Cogent Communications Group, Inc.
5.38%, 03/01/2022 (B)		325,000		338,813
Hughes Satellite Systems Corp.
6.63%, 08/01/2026 (C)		396,000		438,075
Level 3 Financing, Inc.
4.63%, 09/15/2027 (B)		245,000		251,742
Ooredoo International Finance, Ltd.
3.25%, 02/21/2023, MTN (F)		2,200,000		2,247,134
Optus Finance Pty, Ltd.
1.00%, 06/20/2029, MTN (F)		EUR  2,000,000		2,314,382
Orange SA
1.88%, 09/12/2030, MTN (F)		1,400,000		1,768,353
Fixed until 02/07/2024 (G), 5.25% (A) (F)		1,895,000		2,445,794
Telesat Canada / Telesat LLC
4.88%, 06/01/2027 (B)		$  142,000		145,884
6.50%, 10/15/2027 (B)		205,000		214,738
Verizon Communications, Inc.
1.50%, 09/19/2039		EUR  2,100,000		2,384,691
3-Month LIBOR + 1.00%, 2.89% (A), 03/16/2022		$  1,000,000		1,016,302
3.38%, 02/15/2025		268,000		286,293
4.02%, 12/03/2029		1,405,000		1,597,022
				23,391,602
Electric Utilities - 2.2%
Duke Energy Corp.
3-Month LIBOR + 0.50%, 2.41% (A), 05/14/2021 (B)		2,000,000		2,009,288
EDP Finance BV
1.50%, 11/22/2027, MTN (C) (F)		EUR  2,200,000		2,651,303
Electricite de France SA
Fixed until 01/22/2026 (G), 5.00% (A), MTN (C) (F)		2,200,000		2,827,334
Enel Finance International NV
2.75%, 04/06/2023 (B)		$  200,000		203,431
4.25%, 09/14/2023 (B)		200,000		214,524
Enel SA
4.88%, 06/12/2028		1,400,000		1,571,500
Engie Energia Chile SA
3.40%, 01/28/2030 (B)		253,000		255,783
Exelon Corp.
2.85%, 06/15/2020		2,556,000		2,562,967
Fenix Power Peru SA
4.32%, 09/20/2027 (F)		1,710,000		1,751,040
Florida Power & Light Co.
3-Month LIBOR + 0.40%, 2.31% (A), 05/06/2022		3,000,000		3,000,198

The notes are an integral part of this report. Transamerica Funds Page    7

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Electric Utilities (continued)
Georgia Power Co.
2.00%, 09/08/2020		$   420,000		$   420,818
Israel Electric Corp., Ltd.
5.00%, 11/12/2024 (F)		1,650,000		1,827,375
Naturgy Finance BV
1.38%, 01/21/2025, MTN (F)		EUR  2,800,000		3,313,055
Nevada Power Co.
2.75%, 04/15/2020		$  239,000		239,406
NextEra Energy Operating Partners, LP
4.25%, 07/15/2024 (B)		300,000		312,816
NTPC, Ltd.
4.38%, 11/26/2024, MTN (F)		1,310,000		1,397,493
Southern California Edison Co.
Fixed until 02/01/2022 (G), 6.25% (A)		1,229,000		1,273,097
Talen Energy Supply LLC
6.63%, 01/15/2028 (B)		136,000		136,000
7.25%, 05/15/2027 (B)		152,000		155,800
Vistra Operations Co. LLC
5.00%, 07/31/2027 (B)		370,000		381,100
				26,504,328
Electrical Equipment - 0.9%
Emerson Electric Co.
0.38%, 05/22/2024		EUR  2,880,000		3,254,207
EnerSys
5.00%, 04/30/2023 (B)		$  340,000		357,850
Hubbell, Inc.
3.35%, 03/01/2026		282,000		294,181
Siemens Financieringsmaatschappij NV
3-Month LIBOR + 0.61%, 2.50% (A), 03/16/2022 (B)		2,000,000		2,012,552
2.88%, 03/10/2028, MTN (C) (F)		EUR  2,895,000		3,949,031
3.25%, 05/27/2025 (B)		$  1,010,000		1,079,447
				10,947,268
Electronic Equipment, Instruments & Components - 0.1%
Arrow Electronics, Inc.
4.00%, 04/01/2025		260,000		276,757
Jabil, Inc.
3.60%, 01/15/2030		246,000		252,684
Trimble, Inc.
4.75%, 12/01/2024		44,000		48,376
4.90%, 06/15/2028		677,000		763,771
				1,341,588
Energy Equipment & Services - 0.2%
Calfrac Holdings, LP
8.50%, 06/15/2026 (B)		96,000		36,480
Genesis Energy, LP / Genesis Energy Finance Corp.
5.63%, 06/15/2024		411,000		399,698
6.50%, 10/01/2025		150,000		146,250
Hanwha Energy USA Holdings Corp.
2.38%, 07/30/2022 (B)		295,000		298,856
Hi-Crush, Inc.
9.50%, 08/01/2026 (B)		430,000		180,600
Nine Energy Service, Inc.
8.75%, 11/01/2023 (B)		288,000		244,080
Pattern Energy Group, Inc.
5.88%, 02/01/2024 (B)		382,000		392,505
Pioneer Energy Services Corp.
6.13%, 03/15/2022		625,000		143,750

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Energy Equipment & Services (continued)
Schlumberger Holdings Corp.
4.00%, 12/21/2025 (B)		$   333,000		$   365,590
USA Compression Partners, LP / USA Compression Finance Corp.
6.88%, 04/01/2026		103,000		107,120
				2,314,929
Entertainment - 0.3%
Netflix, Inc.
4.38%, 11/15/2026 (C)		508,000		533,908
4.88%, 06/15/2030 (B)		505,000		526,778
TWDC Enterprises 18 Corp.
3-Month LIBOR + 0.13%, 2.03% (A), 03/04/2020, MTN (C)		1,000,000		1,000,305
3-Month LIBOR + 0.19%, 2.08% (A), 06/05/2020, MTN		2,000,000		2,001,768
				4,062,759
Equity Real Estate Investment Trusts - 0.8%
American Tower Corp.
2.25%, 01/15/2022		1,714,000		1,726,658
3.60%, 01/15/2028		52,000		55,650
Columbia Property Trust Operating Partnership, LP
4.15%, 04/01/2025		243,000		259,821
Crown Castle International Corp.
4.30%, 02/15/2029		281,000		317,596
CTR Partnership, LP / CareTrust Capital Corp.
5.25%, 06/01/2025		373,000		386,987
Duke Realty, LP
2.88%, 11/15/2029		110,000		113,071
ESH Hospitality, Inc.
4.63%, 10/01/2027 (B)		275,000		276,375
5.25%, 05/01/2025 (B)		224,000		229,600
HAT Holdings I LLC / HAT Holdings II LLC
5.25%, 07/15/2024 (B)		495,000		519,750
MGM Growth Properties Operating Partnership, LP / MGP Finance Co-Issuer, Inc.
5.75%, 02/01/2027		251,000		279,238
MPT Operating Partnership, LP / MPT Finance Corp.
5.00%, 10/15/2027		200,000		210,240
Sabra Health Care, LP
3.90%, 10/15/2029		334,000		344,020
4.80%, 06/01/2024		231,000		247,775
5.13%, 08/15/2026		425,000		464,808
Simon Property Group, LP
3.38%, 12/01/2027		39,000		42,004
Unibail-Rodamco-Westfield SE
Fixed until 07/25/2023 (G), 2.13% (A) (F)		EUR  2,900,000		3,308,711
VICI Properties, LP / VICI Note Co., Inc.
3.75%, 02/15/2027 (B) (D)		$  160,000		160,800
4.25%, 12/01/2026 (B)		61,000		62,606
4.63%, 12/01/2029 (B)		92,000		96,140
WEA Finance LLC
2.88%, 01/15/2027 (B)		199,000		203,561
				9,305,411
Food & Staples Retailing - 0.3%
Albertsons Cos., Inc. / Safeway, Inc.
5.75%, 03/15/2025		308,000		318,786

The notes are an integral part of this report. Transamerica Funds Page    8

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Food & Staples Retailing (continued)
Costco Wholesale Corp.
2.15%, 05/18/2021		$   1,828,000		$   1,842,747
Walmart, Inc.
2.55%, 04/11/2023		680,000		699,850
3.05%, 07/08/2026		466,000		498,623
				3,360,006
Food Products - 1.2%
Conagra Brands, Inc.
7.00%, 10/01/2028		267,000		345,639
Dole Food Co., Inc.
7.25%, 06/15/2025 (B)		260,000		253,500
Gruma SAB de CV
4.88%, 12/01/2024 (F)		1,200,000		1,299,000
JBS USA LUX SA / JBS USA Finance, Inc.
5.75%, 06/15/2025 (B)		87,000		90,088
5.88%, 07/15/2024 (B)		230,000		235,750
Kraft Heinz Foods Co.
2.80%, 07/02/2020		80,000		80,158
3.95%, 07/15/2025		278,000		298,468
Lamb Weston Holdings, Inc.
4.63%, 11/01/2024 (B)		255,000		267,750
Land O’ Lakes, Inc.
7.00%, 09/18/2028 (B) (G)		4,820,000		4,434,400
Mondelez International, Inc.
1.63%, 03/08/2027		EUR  2,175,000		2,629,482
Nestle Holdings, Inc.
3.50%, 09/24/2025 (B)		$  225,000		244,774
Pilgrim’s Pride Corp.
5.88%, 09/30/2027 (B)		230,000		243,961
Post Holdings, Inc.
5.50%, 03/01/2025 (B)		375,000		388,436
Sigma Alimentos SA de CV
4.13%, 05/02/2026 (F)		500,000		523,750
Sigma Finance BV
4.88%, 03/27/2028 (F)		1,350,000		1,471,912
Smithfield Foods, Inc.
4.25%, 02/01/2027 (B)		232,000		246,385
5.20%, 04/01/2029 (B)		99,000		113,101
Tyson Foods, Inc.
3-Month LIBOR + 0.45%, 2.34% (A), 08/21/2020		1,500,000		1,501,991
				14,668,545
Gas Utilities - 0.2%
ENN Energy Holdings, Ltd.
3.25%, 07/24/2022 (F)		1,500,000		1,514,467
Resources Gas Group, Ltd.
4.50%, 04/05/2022, MTN (F)		1,000,000		1,045,075
				2,559,542
Health Care Equipment & Supplies - 0.5%
Becton Dickinson Euro Finance Sarl
1.21%, 06/04/2026		EUR  2,350,000		2,719,211
Hologic, Inc.
4.38%, 10/15/2025 (B)		$  375,000		381,874
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA
6.63%, 05/15/2022 (B)		46,000		45,827
Stryker Corp.
1.00%, 12/03/2031		EUR  2,750,000		3,101,307
				6,248,219

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Providers & Services - 0.7%
Centene Corp.
4.25%, 12/15/2027 (B)		$  179,000		$   186,608
4.63%, 12/15/2029 (B)		42,000		45,146
CHS / Community Health Systems, Inc.
6.63%, 02/15/2025 (B) (D)		208,000		210,117
CVS Health Corp.
4.10%, 03/25/2025		2,514,000		2,733,788
DaVita HealthCare Partners, Inc.
5.13%, 07/15/2024		375,000		383,437
HCA, Inc.
5.25%, 06/15/2026		274,000		313,118
5.38%, 02/01/2025		550,000		614,680
Laboratory Corp. of America Holdings
2.95%, 12/01/2029		284,000		289,953
3.25%, 09/01/2024		547,000		575,349
MPH Acquisition Holdings LLC
7.13%, 06/01/2024 (B)		250,000		242,155
UnitedHealth Group, Inc.
2.38%, 10/15/2022		1,392,000		1,415,258
3.75%, 07/15/2025		1,045,000		1,143,083
				8,152,692
Hotels, Restaurants & Leisure - 0.2%
Boyd Gaming Corp.
4.75%, 12/01/2027 (B)		181,000		185,073
Brinker International, Inc.
5.00%, 10/01/2024 (B)		376,000		395,740
Eldorado Resorts, Inc.
6.00%, 09/15/2026		385,000		422,056
GLP Capital, LP / GLP Financing II, Inc.
5.38%, 04/15/2026		225,000		255,307
Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower, Inc.
6.13%, 12/01/2024		225,000		242,438
Silversea Cruise Finance, Ltd.
7.25%, 02/01/2025 (B)		200,000		211,040
Wyndham Destinations, Inc.
5.75%, 04/01/2027		330,000		360,112
Yum! Brands, Inc.
4.75%, 01/15/2030 (B)		140,000		149,625
				2,221,391
Household Durables - 0.0% (E)
Toll Brothers Finance Corp.
4.35%, 02/15/2028 (C)		155,000		163,138
Household Products - 0.1%
Central Garden & Pet Co.
5.13%, 02/01/2028		240,000		249,000
Energizer Holdings, Inc.
6.38%, 07/15/2026 (B)		375,000		399,394
Prestige Brands, Inc.
5.13%, 01/15/2028 (B)		123,000		128,535
Procter & Gamble Co.
1.90%, 10/23/2020		35,000		35,071
				812,000
Independent Power & Renewable Electricity Producers - 0.0% (E)
Calpine Corp.
4.50%, 02/15/2028 (B)		141,000		140,295
Clearway Energy Operating LLC
5.00%, 09/15/2026		250,000		257,500
5.75%, 10/15/2025		84,000		88,284
				486,079

The notes are an integral part of this report. Transamerica Funds Page    9

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Industrial Conglomerates - 0.7%
General Electric Co.
1.25%, 05/26/2023		EUR  6,000,000		$   6,869,231
Honeywell International, Inc.
3-Month LIBOR + 0.37%, 2.27% (A), 08/08/2022		$  1,000,000		1,005,158
Roper Technologies, Inc.
2.80%, 12/15/2021		790,000		804,068
				8,678,457
Insurance - 1.3%
AmWINS Group, Inc.
7.75%, 07/01/2026 (B)		380,000		414,829
Assurant, Inc.
Fixed until 03/27/2028, 7.00% (A), 03/27/2048 (C)		2,100,000		2,376,024
Athene Global Funding
3-Month LIBOR + 1.23%, 3.14% (A), 07/01/2022 (B)		1,000,000		1,019,844
Aviva PLC
Fixed until 07/05/2023, 6.13% (A), 07/05/2043, MTN (F)		EUR  4,000,000		5,216,570
Chubb INA Holdings, Inc.
2.88%, 11/03/2022		$  441,000		454,143
Enstar Group, Ltd.
4.95%, 06/01/2029		687,000		766,791
Liberty Mutual Group, Inc.
Fixed until 05/23/2024, 3.63% (A), 05/23/2059 (F)		EUR  3,500,000		4,046,023
Manulife Financial Corp.
Fixed until 02/24/2027, 4.06% (A), 02/24/2032		$  388,000		412,634
Marsh & McLennan Cos., Inc.
3.50%, 12/29/2020		222,000		225,528
				14,932,386
Internet & Catalog Retail - 0.0% (E)
GrubHub Holdings, Inc.
5.50%, 07/01/2027 (B)		365,000		356,331
Internet & Direct Marketing Retail - 0.2%
Amazon.com, Inc.
2.80%, 08/22/2024		536,000		561,841
Prosus NV
5.50%, 07/21/2025 (F)		1,300,000		1,455,220
				2,017,061
IT Services - 0.3%
Alliance Data Systems Corp.
4.75%, 12/15/2024 (B)		250,000		249,262
Global Payments, Inc.
3.80%, 04/01/2021		689,000		702,986
IBM Credit LLC
3-Month LIBOR + 0.16%, 2.05% (A), 02/05/2021		1,500,000		1,501,531
3-Month LIBOR + 0.26%, 2.08% (A), 01/20/2021		500,000		501,044

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
IT Services (continued)
Mastercard, Inc.
2.00%, 03/03/2025		$   447,000		$   451,772
Rackspace Hosting, Inc.
8.63%, 11/15/2024 (B) (C)		265,000		262,350
				3,668,945
Life Sciences Tools & Services - 0.2%
Thermo Fisher Scientific, Inc.
1.88%, 10/01/2049, MTN		EUR  1,945,000		2,140,574
Machinery - 1.1%
Caterpillar Financial Services Corp.
1.95%, 11/18/2022, MTN		$  295,000		297,453
3-Month LIBOR + 0.23%, 2.12% (A), 03/15/2021, MTN		2,000,000		2,003,733
2.55%, 11/29/2022, MTN		292,000		299,303
3.45%, 05/15/2023, MTN		330,000		348,724
CNH Industrial Capital LLC
4.20%, 01/15/2024		254,000		271,637
CNH Industrial Finance Europe SA
1.88%, 01/19/2026, MTN (F)		EUR  3,000,000		3,551,232
CNH Industrial NV
3.85%, 11/15/2027, MTN		$  241,000		255,216
4.50%, 08/15/2023		261,000		280,731
Dover Corp.
0.75%, 11/04/2027		EUR  1,800,000		2,032,182
Illinois Tool Works, Inc.
0.63%, 12/05/2027		2,350,000		2,685,919
3.50%, 03/01/2024		$  312,000		334,260
Stanley Black & Decker, Inc.
3.40%, 03/01/2026		297,000		320,835
				12,681,225
Marine - 0.1%
Kirby Corp.
4.20%, 03/01/2028		147,000		160,060
Pelabuhan Indonesia II PT
4.25%, 05/05/2025 (F)		1,300,000		1,379,625
				1,539,685
Media - 1.1%
Belo Corp.
7.25%, 09/15/2027		450,000		522,000
Block Communications, Inc.
6.88%, 02/15/2025 (B)		370,000		383,413
CCO Holdings LLC / CCO Holdings Capital Corp.
5.00%, 02/01/2028 (B)		418,000		437,333
5.38%, 06/01/2029 (B)		45,000		48,150
Charter Communications Operating LLC / Charter Communications Operating Capital
3-Month LIBOR + 1.65%, 3.41% (A), 02/01/2024		377,000		388,367
5.05%, 03/30/2029		305,000		351,087
Comcast Corp.
2.35%, 01/15/2027		547,000		557,158
2.65%, 02/01/2030		189,000		194,900
4.15%, 10/15/2028		1,030,000		1,181,574
CSC Holdings LLC
5.25%, 06/01/2024		342,000		369,360
5.50%, 04/15/2027 (B)		725,000		769,406
EW Scripps Co.
5.13%, 05/15/2025 (B)		412,000		422,300

The notes are an integral part of this report. Transamerica Funds Page    10

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
National CineMedia LLC
5.88%, 04/15/2028 (B)		$   117,000		$   122,184
Nielsen Finance LLC / Nielsen Finance Co.
5.00%, 04/15/2022 (B)		500,000		500,625
Sirius XM Radio, Inc.
4.63%, 07/15/2024 (B)		744,000		771,435
Sky, Ltd.
2.50%, 09/15/2026, MTN (F)		EUR  2,500,000		3,187,846
Time Warner Cable LLC
6.55%, 05/01/2037		$  482,000		620,266
ViacomCBS, Inc.
3.70%, 06/01/2028		456,000		489,677
WPP Finance
1.38%, 03/20/2025, MTN (F)		EUR  2,000,000		2,340,458
				13,657,539
Metals & Mining - 2.0%
Anglo American Capital PLC
1.63%, 03/11/2026, MTN (F)		3,275,000		3,819,301
BHP Billiton Finance, Ltd.
Fixed until 10/22/2024, 5.63% (A), 10/22/2079 (F)		4,080,000		5,463,916
Cleveland-Cliffs, Inc.
5.75%, 03/01/2025		$  282,000		273,540
Commercial Metals Co.
5.75%, 04/15/2026		390,000		410,475
First Quantum Minerals, Ltd.
7.25%, 04/01/2023 (B)		203,000		201,604
FMG Resources August 2006 Pty, Ltd.
4.50%, 09/15/2027 (B)		300,000		304,125
Freeport-McMoRan, Inc.
3.88%, 03/15/2023		375,000		382,500
5.25%, 09/01/2029 (C)		128,000		135,680
Glencore Finance Europe, Ltd.
1.50%, 10/15/2026, MTN (C) (F)		EUR  2,945,000		3,366,278
GTL Trade Finance, Inc.
7.25%, 04/16/2044 (F)		$  500,000		650,625
GTL Trade Finance, Inc. / Gerdau Holdings, Inc.
5.89%, 04/29/2024 (F)		1,400,000		1,556,562
GUSAP III, LP
4.25%, 01/21/2030 (B)		850,000		892,075
Mineral Resources, Ltd.
8.13%, 05/01/2027 (B)		225,000		245,813
Novelis Corp.
4.75%, 01/30/2030 (B)		83,000		83,365
Novolipetsk Steel Via Steel Funding DAC
4.50%, 06/15/2023 (F)		1,600,000		1,689,328
Severstal OAO Via Steel Capital SA
3.15%, 09/16/2024 (B)		1,500,000		1,513,140
5.90%, 10/17/2022 (F)		1,000,000		1,082,500
Steel Dynamics, Inc.
3.45%, 04/15/2030		180,000		185,550
Teck Resources, Ltd.
6.13%, 10/01/2035		1,734,000		2,074,276
				24,330,653
Mortgage Real Estate Investment Trusts - 0.0% (E)
AG Issuer LLC
6.25%, 03/01/2028 (B) (D)		30,000		30,000
Starwood Property Trust, Inc.
4.75%, 03/15/2025		375,000		391,913
				421,913

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Multi-Utilities - 0.1%
CenterPoint Energy, Inc.
2.95%, 03/01/2030		$   556,000		$   570,695
Consolidated Edison Co. of New York, Inc.
4.45%, 06/15/2020		333,000		336,530
NiSource, Inc.
2.95%, 09/01/2029		394,000		405,313
Public Service Co. of Colorado
3.70%, 06/15/2028		325,000		364,243
				1,676,781
Multiline Retail - 0.2%
El Puerto de Liverpool SAB de CV
3.88%, 10/06/2026 (F)		2,300,000		2,378,223
Kohl’s Corp.
5.55%, 07/17/2045		238,000		255,823
				2,634,046
Oil, Gas & Consumable Fuels - 5.8%
BP Capital Markets America, Inc.
2.75%, 05/10/2023		1,295,000		1,333,542
BP Capital Markets PLC
2.97%, 02/27/2026, MTN (F)		EUR  2,905,000		3,776,020
3.51%, 03/17/2025		$  1,018,000		1,094,475
Callon Petroleum Co.
6.38%, 07/01/2026 (C)		225,000		212,625
Canadian Natural Resources, Ltd.
2.95%, 01/15/2023		1,463,000		1,503,429
3.85%, 06/01/2027		325,000		346,975
Cenovus Energy, Inc.
4.25%, 04/15/2027		648,000		691,571
Chaparral Energy, Inc.
8.75%, 07/15/2023 (B)		416,000		147,680
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/2029 (B)		241,000		249,846
5.13%, 06/30/2027		300,000		334,271
Cheniere Energy Partners, LP
4.50%, 10/01/2029 (B)		76,000		77,330
5.25%, 10/01/2025		220,000		226,600
Chevron Corp.
3-Month LIBOR + 0.53%, 2.44% (A), 03/03/2022		1,000,000		1,008,254
Cimarex Energy Co.
4.38%, 03/15/2029		987,000		1,050,184
CNOOC Finance, Ltd.
3.00%, 05/09/2023 (C)		2,000,000		2,049,067
ConocoPhillips Co.
3-Month LIBOR + 0.90%, 2.81% (A), 05/15/2022 (C)		1,700,000		1,726,564
Ecopetrol SA
5.88%, 05/28/2045		1,100,000		1,322,200
eG Global Finance PLC
6.75%, 02/07/2025 (B)		250,000		253,125
Enable Midstream Partners, LP
4.15%, 09/15/2029		231,000		225,133
4.95%, 05/15/2028		330,000		340,361
Energy Transfer Operating, LP
4.90%, 03/15/2035		308,000		337,653
5.25%, 04/15/2029		121,000		137,054
5.50%, 06/01/2027		480,000		551,230
EnLink Midstream Partners, LP
4.85%, 07/15/2026		1,098,000		1,004,670
Fixed until 12/15/2022 (G), 6.00% (A)		1,400,000		976,500

The notes are an integral part of this report. Transamerica Funds Page    11

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Enterprise Products Operating LLC
2.80%, 01/31/2030		$   700,000		$   707,934
4.05%, 02/15/2022		870,000		907,865
Extraction Oil & Gas, Inc.
5.63%, 02/01/2026 (B)		300,000		147,000
Hilcorp Energy I, LP / Hilcorp Finance Co.
5.00%, 12/01/2024 (B)		536,000		487,760
Holly Energy Partners, LP / Holly Energy Finance Corp.
5.00%, 02/01/2028 (B) (D)		300,000		304,782
6.00%, 08/01/2024 (B)		214,000		223,673
Lonestar Resources America, Inc.
11.25%, 01/01/2023 (B)		412,000		283,250
Marathon Oil Corp.
2.80%, 11/01/2022		1,032,000		1,052,833
6.80%, 03/15/2032		257,000		328,960
MEG Energy Corp.
6.50%, 01/15/2025 (B)		375,000		392,813
7.13%, 02/01/2027 (B)		250,000		247,578
MPLX, LP
3-Month LIBOR + 1.10%, 2.99% (A), 09/09/2022		1,500,000		1,506,834
3.50%, 12/01/2022 (B)		155,000		160,433
Fixed until 02/15/2023 (G), 6.88% (A)		5,500,000		5,541,250
Murphy Oil USA, Inc.
4.75%, 09/15/2029		140,000		146,300
Noble Energy, Inc.
3.90%, 11/15/2024		868,000		925,167
Occidental Petroleum Corp.
3-Month LIBOR + 1.45%, 3.36% (A), 08/15/2022		2,000,000		2,011,183
6.45%, 09/15/2036		447,000		563,286
Oil India International Pte, Ltd.
4.00%, 04/21/2027 (F)		2,033,000		2,132,597
ONGC Videsh, Ltd.
4.63%, 07/15/2024 (F)		1,800,000		1,940,473
PBF Holding Co. LLC / PBF Finance Corp.
6.00%, 02/15/2028 (B)		175,000		178,955
Pertamina Persero PT
4.30%, 05/20/2023, MTN (F)		1,000,000		1,056,326
Petroleos Mexicanos
5.35%, 02/12/2028		500,000		504,525
Raizen Fuels Finance SA
5.30%, 01/20/2027 (F)		1,300,000		1,447,875
Reliance Industries, Ltd.
4.13%, 01/28/2025 (F)		1,940,000		2,076,079
Rockies Express Pipeline LLC
3.60%, 05/15/2025 (B)		349,000		351,474
Saudi Arabian Oil Co.
3.50%, 04/16/2029, MTN (F)		2,000,000		2,119,485
4.25%, 04/16/2039, MTN (F)		1,850,000		2,046,447
Sinopec Group Overseas Development, Ltd.
2.95%, 11/12/2029 (B) (C)		1,800,000		1,846,313
Southwestern Energy Co.
7.50%, 04/01/2026 (C)		201,000		167,775
Summit Midstream Holdings LLC / Summit Midstream Finance Corp.
5.50%, 08/15/2022		238,000		209,291
SunCoke Energy Partners, LP / SunCoke Energy Partners Finance Corp.
7.50%, 06/15/2025 (B)		338,000		324,480
Tengizchevroil Finance Co. International, Ltd.
4.00%, 08/15/2026 (F)		1,000,000		1,054,008
Thaioil Treasury Center Co., Ltd.
4.63%, 11/20/2028, MTN (F)		1,800,000		2,080,363

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
Total Capital International SA
2.88%, 02/17/2022		$   1,295,000		$   1,327,479
TOTAL SA
Fixed until 10/06/2026 (G), 3.37% (A), MTN (F)		EUR  2,935,000		3,714,838
Transportadora de Gas del Peru SA
4.25%, 04/30/2028 (F)		$  2,050,000		2,203,750
Transportadora de Gas Internacional SA
5.55%, 11/01/2028 (B)		1,300,000		1,507,097
Wintershall Dea Finance BV
0.84%, 09/25/2025 (F)		EUR  3,100,000		3,497,222
				68,702,112
Paper & Forest Products - 0.3%
Celulosa Arauco y Constitucion SA
4.50%, 08/01/2024		$  1,400,000		1,482,600
Inversiones CMPC SA
4.38%, 05/15/2023 (F)		1,500,000		1,563,012
				3,045,612
Personal Products - 0.1%
Coty, Inc.
6.50%, 04/15/2026 (B)		400,000		417,000
First Quality Finance Co., Inc.
5.00%, 07/01/2025 (B)		380,000		397,100
				814,100
Pharmaceuticals - 0.7%
Bausch Health Cos., Inc.
5.00%, 01/30/2028 (B)		84,000		85,050
5.25%, 01/30/2030 (B)		84,000		85,575
6.13%, 04/15/2025 (B)		725,000		745,750
Bristol-Myers Squibb Co.
3-Month LIBOR + 0.38%, 2.28% (A), 05/16/2022 (B)		2,000,000		2,007,952
3.25%, 02/20/2023 (B)		750,000		782,197
3.63%, 05/15/2024 (B)		108,000		115,462
Catalent Pharma Solutions, Inc.
5.00%, 07/15/2027 (B)		191,000		201,056
Endo Dac / Endo Finance LLC
6.00%, 02/01/2025 (B)		225,000		155,813
GlaxoSmithKline Capital PLC
3-Month LIBOR + 0.35%, 2.26% (A), 05/14/2021		2,000,000		2,007,409
3.13%, 05/14/2021		448,000		456,527
GlaxoSmithKline Capital, Inc.
3.38%, 05/15/2023		310,000		326,312
Mylan, Inc.
4.55%, 04/15/2028		338,000		373,147
Shire Acquisitions Investments Ireland DAC
3.20%, 09/23/2026		732,000		770,229
				8,112,479
Professional Services - 0.0% (E)
Korn Ferry
4.63%, 12/15/2027 (B)		42,000		42,162
Real Estate Management & Development - 0.9%
Aroundtown SA
1.45%, 07/09/2028, MTN (F)		EUR  4,200,000		4,859,392
Fixed until 01/12/2025 (G), 2.88% (A), MTN (F)		2,750,000		3,176,647

The notes are an integral part of this report. Transamerica Funds Page    12

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Real Estate Management & Development (continued)
Kennedy-Wilson, Inc.
5.88%, 04/01/2024		$  375,000		$   382,500
Longfor Group Holdings, Ltd.
4.50%, 01/16/2028 (F)		2,000,000		2,129,840
Newmark Group, Inc.
6.13%, 11/15/2023		230,000		252,241
				10,800,620
Road & Rail - 0.1%
Avolon Holdings Funding, Ltd.
5.13%, 10/01/2023 (B)		325,000		353,623
Canadian National Railway Co.
2.85%, 12/15/2021		214,000		217,987
JB Hunt Transport Services, Inc.
3.88%, 03/01/2026		251,000		274,910
Kansas City Southern
2.88%, 11/15/2029		254,000		261,596
				1,108,116
Semiconductors & Semiconductor Equipment - 0.2%
Amkor Technology, Inc.
6.63%, 09/15/2027 (B)		230,000		249,837
NXP BV / NXP Funding LLC / NXP USA, Inc.
4.30%, 06/18/2029 (B)		411,000		454,724
QUALCOMM, Inc.
3.25%, 05/20/2027		2,088,000		2,243,222
				2,947,783
Software - 0.5%
Adobe, Inc.
2.30%, 02/01/2030 (D)		696,000		705,350
Camelot Finance SA
4.50%, 11/01/2026 (B)		152,000		154,660
CDK Global, Inc.
5.88%, 06/15/2026		238,000		252,875
Fair Isaac Corp.
4.00%, 06/15/2028 (B)		274,000		278,795
Microsoft Corp.
2.40%, 02/06/2022		2,153,000		2,190,736
3.13%, 12/06/2028		EUR  1,250,000		1,759,316
SS&C Technologies, Inc.
5.50%, 09/30/2027 (B)		$  490,000		518,322
				5,860,054
Specialty Retail - 0.2%
Conn’s, Inc.
7.25%, 07/15/2022		120,000		119,400
Home Depot, Inc.
3-Month LIBOR + 0.31%, 2.22% (A), 03/01/2022		975,000		978,405
QVC, Inc.
4.75%, 02/15/2027 (D)		335,000		338,091
4.85%, 04/01/2024		868,000		908,093
				2,343,989
Technology Hardware, Storage & Peripherals - 0.3%
Apple, Inc.
2.05%, 09/11/2026		296,000		298,924
3-Month LIBOR + 0.50%, 2.40% (A), 02/09/2022		2,000,000		2,017,233
Dell International LLC / EMC Corp.
6.02%, 06/15/2026 (B)		520,000		607,220

	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Technology Hardware, Storage & Peripherals (continued)
Diebold Nixdorf, Inc.
8.50%, 04/15/2024		$   257,000		$   246,720
NCR Corp.
5.75%, 09/01/2027 (B)		77,000		82,021
6.13%, 09/01/2029 (B)		145,000		158,217
Seagate HDD Cayman
4.75%, 01/01/2025		300,000		322,765
				3,733,100
Thrifts & Mortgage Finance - 0.0% (E)
New York Community Bancorp, Inc.
Fixed until 11/06/2023, 5.90% (A), 11/06/2028		358,000		380,669
Trading Companies & Distributors - 0.2%
GATX Corp.
3-Month LIBOR + 0.72%, 2.61% (A), 11/05/2021		1,000,000		1,004,802
4.35%, 02/15/2024		473,000		509,068
H&E Equipment Services, Inc.
5.63%, 09/01/2025		397,000		413,872
				1,927,742
Transportation Infrastructure - 0.3%
DP World PLC
5.63%, 09/25/2048 (B)		1,500,000		1,773,414
5.63%, 09/25/2048, MTN (F)		300,000		354,683
Penske Truck Leasing Co., LP / PTL Finance Corp.
3.35%, 11/01/2029 (B)		80,000		82,757
3.95%, 03/10/2025 (B)		479,000		517,599
4.20%, 04/01/2027 (B)		238,000		260,580
				2,989,033
Wireless Telecommunication Services - 0.9%
Altice France SA
7.38%, 05/01/2026 (B)		779,000		829,697
C&W Senior Financing DAC
6.88%, 09/15/2027 (B)		425,000		456,344
Empresa Nacional de Telecomunicaciones SA
4.75%, 08/01/2026 (F)		1,500,000		1,616,304
Sprint Corp.
7.88%, 09/15/2023		1,644,000		1,746,569
T-Mobile USA, Inc.
6.38%, 03/01/2025		90,000		92,897
6.50%, 01/15/2024		106,000		108,783
Vodafone Group PLC
2.88%, 11/20/2037, MTN (F)		EUR  2,000,000		2,690,603
Fixed until 04/04/2029, 7.00% (A), 04/04/2079		$  2,614,000		3,081,954
Ypso Finance Bis Co.
6.00%, 02/15/2028 (B) (D)		400,000		401,110
				11,024,261
Total Corporate Debt Securities (Cost $609,409,101)				625,315,133

The notes are an integral part of this report. Transamerica Funds Page    13

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS - 6.5%
Brazil - 1.2%
Brazil Government International Bond
10.25%, 01/10/2028		BRL  26,000,000		$   7,387,045
Brazil Notas do Tesouro Nacional
Series F,
10.00%, 01/01/2023 - 01/01/2025		24,000,000		6,429,197
				13,816,242
Chile - 1.1%
Bonos de la Tesoreria de la Republica en pesos
4.00%, 03/01/2023 (F)		CLP  5,000,000,000		6,666,250
4.50%, 03/01/2026		3,000,000,000		4,151,193
5.00%, 03/01/2035		2,000,000,000		2,968,387
				13,785,830
Colombia - 0.9%
Colombia Government International Bond
4.38%, 03/21/2023		COP  31,000,000,000		8,868,763
Colombia TES
6.00%, 04/28/2028		7,000,000,000		2,092,648
				10,961,411
Egypt - 0.3%
Egypt Government International Bond
6.59%, 02/21/2028 (F)		$  3,700,000		3,939,153
India - 0.1%
Export-Import Bank of India
3.38%, 08/05/2026 (F)		1,300,000		1,339,528
Indonesia - 0.7%
Indonesia Treasury Bond
8.25%, 05/15/2029		IDR  100,000,000,000		8,094,691
Italy - 0.0% (E)
Republic of Italy Government International Bond
2.88%, 10/17/2029		$  226,000		223,566
Mexico - 1.0%
Mexico Bonos
8.50%, 05/31/2029		MXN  100,000,000		5,969,199
10.00%, 12/05/2024		100,000,000		6,041,862
				12,011,061
Norway - 0.0% (E)
Kommunalbanken AS
1.75%, 09/15/2020 (B)		$  330,000		330,422
Qatar - 1.0%
Qatar Government International Bond
4.50%, 04/23/2028 (F)		10,000,000		11,573,680

	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Supranational - 0.2%
Inter-American Development Bank
2.63%, 04/19/2021, MTN		$   1,408,000		$   1,427,654
International Bank for Reconstruction & Development
3.13%, 11/20/2025		486,000		531,792
				1,959,446
Total Foreign Government Obligations (Cost $77,253,728)				78,035,030
LOAN ASSIGNMENTS - 13.3%
Aerospace & Defense - 0.1%
TransDigm, Inc.
Term Loan F,
1-Month LIBOR + 2.50%, 4.15% (A), 06/09/2023		615,081		614,217
Air Freight & Logistics - 0.0% (E)
1199169 B.C. Unlimited Liability Co.
Term Loan B2,
3-Month LIBOR + 4.00%, 5.94% (A), 04/04/2026		369,715		370,824
Auto Components - 0.1%
Mavis Tire Express Services Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 03/20/2025		1,171,100		1,144,750
Delayed Draw Term Loan,
1-Month LIBOR + 3.25%, 3.43% (A), 03/20/2025		33,521		32,767
TI Group Automotive Systems LLC
Term Loan,
1-Month LIBOR + 2.50%, 4.15% (A), 06/30/2022		450,000		450,187
				1,627,704
Automobiles - 0.1%
Belron Finance US LLC
Term Loan B,
3-Month LIBOR + 2.50%, 4.27% (A), 11/07/2026		343,298		344,157
CWGS Group LLC
Term Loan,
1-Month LIBOR + 2.75%, 4.48% (A), 11/08/2023		508,190		482,272
Wand NewCo 3, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (A), 02/05/2026		609,432		611,973
				1,438,402
Biotechnology - 0.0% (E)
Grifols Worldwide Operations USA, Inc.
Term Loan B,
1-Week LIBOR + 2.00%, 3.56% (A), 11/15/2027		343,464		344,998
Building Products - 0.2%
C.H.I. Overhead Doors, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 07/29/2022		612,065		614,105

The notes are an integral part of this report. Transamerica Funds Page    14

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Building Products (continued)
CD&R Hydra Buyer, Inc.
Term Loan,
1-Month LIBOR + 4.25%, 5.90% (A), 12/11/2024		$   901,539		$   894,778
Quikrete Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.15% (A), 02/01/2027		1,021,000		1,022,117
				2,531,000
Capital Markets - 0.4%
Advisor Group, Inc.,
Term Loan B,
TBD, 08/01/2026 (D) (H)		220,950		220,397
Blackstone CQP Holdco, LP
Term Loan B,
3-Month LIBOR + 3.50%, 5.41% (A), 09/30/2024		944,704		944,114
Camelot US Acquisition 1 Co.
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 10/31/2026		872,115		875,750
Crown Finance US, Inc.
Term Loan,
1-Month LIBOR + 2.25%, 3.90% (A), 02/28/2025		897,885		888,906
1-Month LIBOR + 2.50%, 4.15% (A), 09/30/2026		349,125		346,507
Deerfield Dakota Holding LLC
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 02/13/2025		949,925		951,112
NEXUS Buyer LLC
Term Loan B,
1-Month LIBOR + 3.75%, 5.45% (A), 11/09/2026		787,024		795,550
				5,022,336
Chemicals - 0.4%
Charter NEX US, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (A), 05/16/2024		696,615		695,222
Chemours Co.
Term Loan B,
1-Month LIBOR + 1.75%, 3.40% (A), 04/03/2025		816,906		785,251
Hexion, Inc.
Term Loan,
3-Month LIBOR + 3.50%, 5.41% (A), 07/01/2026		811,430		816,501
Natgasoline LLC
Term Loan B,
6-Month LIBOR + 3.50%, 5.28% (A), 11/14/2025		872,796		872,796
PQ Corp.
Term Loan B,
3-Month LIBOR + 2.50%, 4.28% (A), 02/08/2025		505,264		506,001
Starfruit Finco BV
Term Loan B,
1-Month LIBOR + 3.25%, 4.95% (A), 10/01/2025		1,252,630		1,251,377
				4,927,148

	Principal		Value
LOAN ASSIGNMENTS (continued)
Commercial Services & Supplies - 0.7%
Asurion LLC
2nd Lien Term Loan,
1-Month LIBOR + 6.50%, 8.15% (A), 08/04/2025		$   63,905		$   64,656
Term Loan B6,
1-Month LIBOR + 3.00%, 4.65% (A), 11/03/2023		512,837		514,225
Term Loan B7,
1-Month LIBOR + 3.00%, 4.65% (A), 11/03/2024		729,022		729,933
BidFair MergerRight, Inc.
Term Loan B,
1-Month LIBOR + 5.50%, 7.17% (A), 01/15/2027		876,915		876,368
BrightView Landscapes LLC
1st Lien Term Loan B,
1-Month LIBOR + 2.50%, 4.19% (A), 08/15/2025		364,139		365,656
Cast and Crew Payroll LLC
1st Lien Term Loan,
1-Month LIBOR + 4.00%, 5.65% (A), 02/09/2026		416,580		418,923
Creative Artists Agency LLC
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (A), 11/27/2026		779,320		783,948
Garda World Security Corp.
1st Lien Term Loan B,
3-Month LIBOR + 4.75%, 6.66% (A), 10/30/2026		620,560		624,128
GFL Environmental, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (A), 05/30/2025		1,372,225		1,369,480
Prime Security Services Borrower LLC
Term Loan B1,
1-Month LIBOR + 3.25%, 5.01% (A), 09/23/2026		1,186,442		1,187,761
PUG LLC
Term Loan,
TBD, 01/15/2027 (D) (H)		623,204		620,089
West Corp.
Term Loan,
1-Month LIBOR + 4.00%, 5.65% (A), 10/10/2024		777,693		662,152
Term Loan B1,
1-Month LIBOR + 3.50%, 5.15% (A), 10/10/2024		256,742		217,405
				8,434,724
Communications Equipment - 0.1%
CommScope, Inc.
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 04/06/2026		980,140		980,140
Construction & Engineering - 0.1%
USIC Holdings, Inc.
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 12/08/2023		907,435		903,465

The notes are an integral part of this report. Transamerica Funds Page    15

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Consumer Finance - 0.1%
Altice Financing SA
Term Loan B,
1-Month LIBOR + 2.75%, 4.43% (A), 07/15/2025		$   439,761		$   435,226
Nielsen Finance LLC
Term Loan B4,
1-Month LIBOR + 2.00%, 3.70% (A), 10/04/2023		1,316,539		1,317,479
				1,752,705
Containers & Packaging - 0.3%
Berry Global, Inc.
Term Loan Y,
1-Month LIBOR + 2.00%, 3.78% (A), 07/01/2026		1,169,023		1,174,380
BWAY Holding Co.
Term Loan B,
3-Month LIBOR + 3.25%, 5.08% (A), 04/03/2024 (D)		3,061		3,035
3-Month LIBOR + 3.25%, 5.08% (A), 04/03/2024		1,190,845		1,180,797
Reynolds Group Holdings, Inc.
Term Loan,
1-Month LIBOR + 2.75%, 4.40% (A), 02/05/2023		883,018		884,397
				3,242,609
Distributors - 0.1%
American Builders & Contractors Supply Co., Inc.
Term Loan,
1-Month LIBOR + 2.00%, 3.65% (A), 01/15/2027		740,119		740,296
Diversified Consumer Services - 0.1%
William Morris Endeavor Entertainment LLC
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (A), 05/18/2025		1,556,001		1,545,952
Diversified Financial Services - 0.5%
AI Ladder Subco SARL
Term Loan,
3-Month LIBOR + 4.50%, 6.44% (A), 07/09/2025		619,412		617,670
AlixPartners LLP
Term Loan B,
1-Month LIBOR + 2.75%, 4.15% (A), 04/04/2024		642,426		643,871
Dynasty Acquisition Co., Inc.
Term Loan B1,
3-Month LIBOR + 4.00%, 5.94% (A), 04/06/2026		687,669		689,732
Fastlane Parent Co., Inc.
1st Lien Term Loan,
3-Month LIBOR + 4.50%, 6.45% (A), 02/04/2026		757,715		753,927
Lions Gate Capital Holdings LLC
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (A), 03/24/2025		635,200		629,642

	Principal		Value
LOAN ASSIGNMENTS (continued)
Diversified Financial Services (continued)
Refinitiv US Holdings, Inc.
Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 10/01/2025		$   1,152,445		$   1,163,393
Stars Group Holdings BV
Incremental Term Loan,
3-Month LIBOR + 3.50%, 5.44% (A), 07/10/2025		896,905		902,184
				5,400,419
Diversified Telecommunication Services - 0.6%
CenturyLink, Inc.
Term Loan B,
TBD, 03/15/2027 (D) (H)		1,582,607		1,579,640
Coral-US Co-Borrower LLC
Term Loan B5,
TBD, 01/31/2028 (D) (H)		785,197		787,161
Intelsat Jackson Holdings SA
Term Loan B3,
6-Month LIBOR + 3.75%, 5.68% (A), 11/27/2023		1,989,000		1,976,569
Iridium Satellite LLC
Term Loan,
1-Month LIBOR + 3.75%, 5.40% (A), 11/04/2026 (D)		661,061		664,917
Level 3 Financing, Inc.
Term Loan B,
1-Month LIBOR + 1.75%, 3.40% (A), 03/01/2027		409,087		408,575
Telenet Financing LLC
Term Loan AR,
TBD, 04/24/2028 (D) (H)		883,313		879,842
Telesat Canada
Term Loan B5,
3-Month LIBOR + 2.75%, 4.63% (A), 12/07/2026		775,392		778,541
				7,075,245
Electric Utilities - 0.1%
Talen Energy Supply LLC
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (A), 07/08/2026		905,580		906,712
Electrical Equipment - 0.2%
EXC Holdings III Corp.
1st Lien Term Loan,
3-Month LIBOR + 3.50%, 5.44% (A), 12/02/2024		849,291		849,291
2nd Lien Term Loan,
3-Month LIBOR + 7.50%, 9.41% (A), 12/01/2025		347,000		334,855
Gates Global LLC
Repriced Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 04/01/2024		975,717		972,058
				2,156,204

The notes are an integral part of this report. Transamerica Funds Page    16

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Electronic Equipment, Instruments & Components - 0.1%
Verifone Systems, Inc.
1st Lien Term Loan,
3-Month LIBOR + 4.00%, 5.90% (A), 08/20/2025		$   372,488		$   367,832
Verra Mobility Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.75%, 5.40% (A), 02/28/2025		355,069		357,140
				724,972
Energy Equipment & Services - 0.0% (E)
Apergy Corp.
1st Lien Term Loan,
Prime Rate + 1.50%, 4.19% (A), 05/09/2025		308,689		308,689
Entertainment - 0.1%
AMC Entertainment Holdings, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (A), 04/22/2026		573,615		574,762
Equity Real Estate Investment Trusts - 0.1%
ESH Hospitality, Inc.
Term Loan B,
1-Month LIBOR + 2.00%, 3.65% (A), 09/18/2026		248,293		249,612
VICI Properties 1 LLC
Term Loan B,
1-Month LIBOR + 1.75%, 3.41% (A), 12/20/2024		668,167		669,698
				919,310
Food & Staples Retailing - 0.1%
Albertsons LLC
Term Loan B8,
1-Month LIBOR + 2.75%, 4.40%, 08/17/2026 (D)		1,125,640		1,127,248
Allsup’s Convenience Stores, Inc.
Term Loan,
1-Month LIBOR + 6.25%, 7.91% (A), 11/18/2024		599,000		600,498
				1,727,746
Food Products - 0.2%
Froneri International PLC
Term Loan,
TBD, 01/31/2027 (D) (H)		414,834		415,871
JBS USA Lux SA
Term Loan B,
1-Month LIBOR + 2.00%, 3.65% (A), 05/01/2026		419,670		421,419
Nomad Foods Midco, Ltd.
Term Loan B4,
3-Month LIBOR + 2.25%, 3.93% (A), 05/15/2024		882,000		882,000
Sunshine Luxembourg VII SARL
1st Lien Term Loan,
3-Month LIBOR + 4.25%, 6.19% (A), 10/01/2026		1,132,691		1,136,089
				2,855,379

	Principal		Value
LOAN ASSIGNMENTS (continued)
Health Care Equipment & Supplies - 0.2%
Greatbatch, Ltd.
Term Loan B,
1-Month LIBOR + 2.50%, 4.20% (A), 10/27/2022		$   314,062		$   314,193
Immucor, Inc.
Term Loan B,
3-Month LIBOR + 5.00%, 6.94% (A), 06/15/2021		1,036,791		1,036,358
Ortho-Clinical Diagnostics SA
Term Loan B,
1-Month LIBOR + 3.25%, 5.01% (A), 06/30/2025		1,199,828		1,184,329
				2,534,880
Health Care Providers & Services - 0.5%
DaVita, Inc.
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (A), 08/12/2026		405,455		406,395
Envision Healthcare Corp.
1st Lien Term Loan,
TBD, 10/10/2025 (D) (H)		945,000		794,137
HC Group Holdings II, Inc.
Term Loan B,
1-Month LIBOR + 4.50%, 6.15% (A), 08/06/2026		872,363		876,725
MPH Acquisition Holdings LLC
Term Loan B,
3-Month LIBOR + 2.75%, 4.69% (A), 06/07/2023		912,459		897,062
RegionalCare Hospital Partners Holdings, Inc.
Term Loan B,
1-Week LIBOR + 3.75%, 5.40% (A), 11/17/2025		914,474		918,189
Sound Inpatient Physicians
1st Lien Term Loan,
4.40% (A), 06/27/2025		819,934		820,959
2nd Lien Term Loan,
1-Month LIBOR + 6.75%, 8.40% (A), 06/26/2026		228,492		227,635
Team Health Holdings, Inc.
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (A), 02/06/2024		411,515		326,640
Upstream Rehabilition, Inc.
Term Loan,
1-Month LIBOR + 4.50%, 6.15% (A), 11/20/2026		396,610		397,602
				5,665,344
Health Care Technology - 0.1%
Change Healthcare Holdings LLC
Term Loan B,
1-Month LIBOR + 2.50%, 4.15% (A), 03/01/2024		842,786		842,786
Hotels, Restaurants & Leisure - 1.2%
1011778 B.C. Unlimited Liability Co.
Term Loan B4,
1-Month LIBOR + 1.75%, 3.40% (A), 11/19/2026		522,158		521,343

The notes are an integral part of this report. Transamerica Funds Page    17

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Hotels, Restaurants & Leisure (continued)
Boyd Gaming Corp.
Term Loan B3,
1-Week LIBOR + 2.25%, 3.81% (A), 09/15/2023		$   248,647		$   249,179
Caesars Resort Collection LLC
1st Lien Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 12/23/2024 (D)		1,580,733		1,579,846
ETA Australia Holdings III Pty, Ltd.
Term Loan,
1-Month LIBOR + 4.00%, 5.65% (A), 05/06/2026		429,069		431,215
Golden Nugget, Inc.
Incremental Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 10/04/2023 (D)		978,237		979,256
Hornblower Sub LLC
Term Loan B,
3-Month LIBOR + 4.50%, 6.44% (A), 04/27/2025		764,545		767,412
IRB Holding Corp
Term Loan B,
1-Month LIBOR + 2.75%, 4.38% (A), 02/05/2025		913,244		913,244
Mohegan Tribal Gaming Authority
Term Loan B,
1-Month LIBOR + 4.00%, 5.65% (A), 10/13/2023		1,259,069		1,222,556
Motion Finco SARL
Delayed Draw Term Loan B2,
0.50% (A), 11/04/2026 (D)		24,277		24,500
Term Loan B1,
3-Month LIBOR + 3.25%, 5.15% (A), 11/13/2026 (D)		358,095		361,377
NEP/NCP Holdco, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 10/20/2025		943,479		923,824
PCI Gaming Authority
Term Loan,
1-Month LIBOR + 2.50%, 4.15% (A), 05/29/2026		352,939		353,600
PF Chang’s China Bistro, Inc.
Term Loan B,
6-Month LIBOR + 6.25%, 8.17% (A), 03/01/2026		605,001		494,084
Scientific Games International, Inc.
Term Loan B5,
1-Month LIBOR + 2.75%, 4.40% (A), 08/14/2024		1,540,276		1,537,389
SeaWorld Parks & Entertainment, Inc.
Term Loan B5,
1-Month LIBOR + 3.00%, 4.65% (A), 03/31/2024		1,171,154		1,172,325
Station Casinos LLC
Term Loan B,
TBD, 01/31/2027 (D) (H)		513,427		512,785
1-Month LIBOR + 2.50%, 4.15% (A), 06/08/2023		494,333		494,838
Travelport Finance SARL
2nd Lien Term Loan,
3-Month LIBOR + 9.00%, 10.95% (A), 05/28/2027		271,077		225,332
Term Loan,
3-Month LIBOR + 5.00%, 6.94% (A), 05/29/2026		1,106,808		1,000,278

	Principal		Value
LOAN ASSIGNMENTS (continued)
Hotels, Restaurants & Leisure (continued)
Twin River Worldwide Holdings, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 05/10/2026		$   761,140		$   763,233
				14,527,616
Household Durables - 0.0% (E)
API Heat Transfer ThermaSys Corp.
Term Loan,
3-Month LIBOR + 6.00%, 7.94% (A), 12/31/2023		438,569		394,712
Household Products - 0.1%
Diamond BV
Term Loan,
1-Month LIBOR + 3.00%, 4.78% (A), 09/06/2024		1,285,819		1,247,245
Independent Power & Renewable Electricity Producers - 0.0% (E)
Terra-Gen Finance Co. LLC
Term Loan B,
1-Month LIBOR + 4.25%, 5.90% (A), 12/09/2021		335,766		327,372
Insurance - 0.4%
Alliant Holdings Intermediate LLC
Term Loan B,
1-Month LIBOR + 3.00%, 4.65% (A), 05/09/2025		1,087,001		1,083,468
AmWINS Group, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.41% (A), 01/25/2024		867,316		873,279
Hub International, Ltd.
Term Loan B,
3-Month LIBOR + 2.75%, 4.55% (A), 04/25/2025		1,310,255		1,308,382
Hyperion Insurance Group, Ltd.
Repriced Term Loan,
1-Month LIBOR + 3.50%, 5.19% (A), 12/20/2024		382,495		384,312
Sedgwick Claims Management Services, Inc.
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 12/31/2025		1,243,256		1,243,256
				4,892,697
IT Services - 0.3%
Moneygram International, Inc.
Term Loan B,
1-Month LIBOR + 6.00%, 7.65% (A), 06/30/2023		593,851		558,220
PI MergerCo, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 01/03/2025		1,238,451		1,241,031

The notes are an integral part of this report. Transamerica Funds Page    18

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
IT Services (continued)
Rackspace Hosting, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.00%, 4.90% (A), 11/03/2023		$   1,493,361		$   1,433,253
Tempo Acquisition LLC
Term Loan,
1-Month LIBOR + 2.75%, 4.40% (A), 05/01/2024		865,383		868,088
				4,100,592
Life Sciences Tools & Services - 0.2%
Jaguar Holding Co. II
Term Loan,
1-Month LIBOR + 2.50%, 4.15% (A), 08/18/2022		1,315,829		1,314,890
Parexel International Corp.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 09/27/2024		838,749		824,332
				2,139,222
Machinery - 0.3%
Crosby US Acquisition Corp.
Term Loan B,
1-Month LIBOR + 4.75%, 6.40% (A), 06/26/2026		917,348		912,761
Dynacast International LLC
Term Loan B2,
3-Month LIBOR + 3.25%, 5.19% (A), 01/28/2022		602,673		584,593
Gardner Denver, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 07/30/2024		414,156		415,192
Patriot Container Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (A), 03/20/2025		464,117		464,117
Shape Technologies Group, Inc.
Term Loan,
3-Month LIBOR + 3.00%, 4.81% (A), 04/21/2025 (D)		637,413		575,266
Welbilt, Inc.
Term Loan B,
1-Month LIBOR + 2.50%, 4.15% (A), 10/23/2025		588,000		589,102
				3,541,031
Media - 0.9%
Charter Communications Operating LLC
Term Loan B2,
1-Month LIBOR + 1.75%, 3.40% (A), 02/01/2027		494,972		496,621
Cogeco Communications II, LP
1st Lien Term Loan,
1-Month LIBOR + 2.25%, 3.90% (A), 01/03/2025		924,792		925,562
CSC Holdings LLC
1st Lien Term Loan,
1-Month LIBOR + 2.25%, 3.93% (A), 07/17/2025		1,171,588		1,173,052
Term Loan B5,
3-Month LIBOR + 2.50%, 4.18% (A), 04/15/2027		703,284		705,262

	Principal		Value
LOAN ASSIGNMENTS (continued)
Media (continued)
E.W. Scripps Co.
Term Loan B2,
1-Month LIBOR + 2.50%, 4.15% (A), 05/01/2026		$   340,935		$   342,924
Gray Television, Inc.
Term Loan C,
1-Month LIBOR + 2.50%, 4.28% (A), 01/02/2026		373,843		375,323
ION Media Networks, Inc.
Term Loan B,
1-Month LIBOR + 3.00%, 4.69% (A), 12/18/2024		1,528,929		1,529,406
McGraw-Hill Global Education Holdings LLC
Term Loan B,
1-Month LIBOR + 4.00%, 5.65% (A), 05/04/2022		992,893		947,717
Meredith Corp.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 01/31/2025		363,215		365,145
Nexstar Broadcasting, Inc.
Term Loan B4,
1-Month LIBOR + 2.75%, 4.53% (A), 09/18/2026		580,909		583,450
Numericable Group SA
Term Loan B11,
1-Month LIBOR + 2.75%, 4.40% (A), 07/31/2025		306,089		302,973
Rentpath, Inc.
2nd Lien Term Loan,
3-Month LIBOR + 9.00%, 10.91% (A), 12/17/2022 (I)		765,000		88,693
Terrier Media Buyer, Inc.
Term Loan B,
3-Month LIBOR + 4.25%, 6.15% (A), 12/17/2026		1,024,507		1,032,191
Univision Communications, Inc.
Term Loan C5,
1-Month LIBOR + 2.75%, 4.40% (A), 03/15/2024		900,000		887,812
UPC Broadband Holding B.V.
Term Loan B,
TBD, 04/30/2028 (D) (H)		476,712		475,988
Ziggo Financing Partnership
Term Loan I,
3-Month LIBOR + 2.50%, 4.13% (A), 04/30/2028 (D)		559,305		558,956
				10,791,075
Metals & Mining - 0.2%
Hampton Rubber Co.
1st Lien Term Loan,
1-Month LIBOR + 4.00%, 5.65% (A), 03/27/2021		612,518		606,393

The notes are an integral part of this report. Transamerica Funds Page    19

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Metals & Mining (continued)
US Silica Co.
Term Loan B,
1-Month LIBOR + 4.00%, 5.69% (A), 05/01/2025		$   1,445,655		$   1,276,307
WP CPP Holdings LLC
Term Loan,
3-Month LIBOR + 3.75%, 5.53% (A), 04/30/2025 (D)		812,237		791,254
				2,673,954
Oil, Gas & Consumable Fuels - 0.4%
Buckeye Partners, LP
Term Loan B,
1-Month LIBOR + 2.75%, 4.53% (A), 11/01/2026		929,000		937,322
EG America LLC
2nd Lien Term Loan,
3-Month LIBOR + 8.00%, 9.96% (A), 04/20/2026		175,229		170,849
Term Loan,
3-Month LIBOR + 4.00%, 5.96%(A), 02/07/2025		974,272		969,807
Lucid Energy Group II Borrower LLC
1st Lien Term Loan,
1-Month LIBOR + 3.00%, 4.65% (A), 02/17/2025		1,241,655		1,117,489
Medallion Midland Acquisition LLC
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 10/30/2024		490,663		483,303
Osum Production Corp.
Term Loan,
3-Month LIBOR + 9.50%, 11.45% (A), 07/31/2022		778,420		731,715
				4,410,485
Personal Products - 0.1%
Coty, Inc.
Term Loan B,
1-Month LIBOR + 2.25%, 3.94% (A), 04/07/2025		1,238,530		1,225,370
Pharmaceuticals - 0.5%
Akorn, Inc.
Term Loan B,
PIK Rate 0.75%, Cash Rate 8.06%, 11.81% (A), 04/16/2021 (J)		415,694		399,326
Alphabet Holding Co., Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.50%, 5.15% (A), 09/26/2024		917,382		873,424
Alvogen Pharma US, Inc.
Term Loan B,
1-Month LIBOR + 4.75%, 6.40% (A), 04/02/2022 (I)		572,089		497,717
Amneal Pharmaceuticals LLC
Term Loan B,
1-Month LIBOR + 3.50%, 5.19% (A), 05/04/2025		1,496,272		1,377,319
Bausch Health Cos., Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.42% (A), 11/27/2025		946,221		949,262
1-Month LIBOR + 3.00%, 4.67% (A), 06/02/2025		125,558		126,014

	Principal		Value
LOAN ASSIGNMENTS (continued)
Pharmaceuticals (continued)
Catalent Pharma Solutions, Inc.
Term Loan B2,
1-Month LIBOR + 2.25%, 3.90% (A), 05/18/2026		$   399,038		$   400,535
Endo Finance Co. I SARL
Term Loan B,
1-Month LIBOR + 4.25%, 5.94% (A), 04/29/2024		1,076,056		1,037,856
				5,661,453
Professional Services - 0.1%
Everi Payments, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 05/09/2024		789,211		792,131
Real Estate Management & Development - 0.3%
Brookfield WEC Holdings, Inc.
Term Loan,
1-Month LIBOR + 3.00%, 4.65% (A), 08/01/2025 (D)		904,102		905,985
CityCenter Holdings LLC
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (A), 04/18/2024		1,320,943		1,321,877
Cushman & Wakefield U.S. Borrower LLC
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 08/21/2025		863,622		861,463
				3,089,325
Road & Rail - 0.1%
Genesee & Wyoming Inc.
Term Loan,
3-Month LIBOR + 2.00%, 3.91% (A), 12/30/2026		341,329		343,676
PODS LLC
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.42% (A), 12/06/2024		979,116		980,340
				1,324,016
Semiconductors & Semiconductor Equipment - 0.1%
Bright Bidco BV
Term Loan B,
1-Month LIBOR + 3.50%, 5.35% (A), 06/30/2024		1,089,408		640,935
MaxLinear, Inc.
Term Loan B,
3-Month LIBOR + 2.50%, 4.18% (A), 05/12/2024		409,814		407,765
Microchip Technology, Inc.
Term Loan B,
1-Month LIBOR + 2.00%, 3.65% (A), 05/29/2025		300,172		300,922
				1,349,622

The notes are an integral part of this report. Transamerica Funds Page    20

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Software - 1.7%
Almonde, Inc.
1st Lien Term Loan,
6-Month LIBOR + 3.50%, 5.28% (A), 06/13/2024 (D)		$   135,943		$   134,390
6-Month LIBOR + 3.50%, 5.28% (A), 06/13/2024		731,289		722,931
2-Month LIBOR + 3.50%, 5.28% (A), 06/13/2024		149,388		147,681
2nd Lien Term Loan,
3-Month LIBOR + 7.25%, 9.03% (A), 06/13/2025		265,000		259,203
Applied Systems, Inc.
1st Lien Term Loan,
3-Month LIBOR + 3.25%, 5.19% (A), 09/19/2024		1,074,637		1,077,899
2nd Lien Term Loan,
3-Month LIBOR + 7.00%, 8.94% (A), 09/19/2025		249,232		255,462
Barracuda Networks, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.91% (A), 02/12/2025		579,195		582,815
Comet Acquisition, Inc.
Term Loan,
3-Month LIBOR + 3.50%, 5.41% (A), 10/24/2025 (D)		799,368		794,372
Corel Corp.
Term Loan,
2-Month LIBOR + 5.00%, 6.91% (A), 07/02/2026		870,891		860,005
Cypress Intermediate Holdings III, Inc.
1st Lien Term Loan,
1-Month LIBOR + 2.75%, 4.40% (A), 04/29/2024		425,029		425,029
DCert Buyer, Inc.
Term Loan B,
1-Month LIBOR + 4.00%, 5.65% (A), 10/16/2026		982,675		982,266
Epicor Software Corp.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 06/01/2022		1,323,996		1,328,724
Greeneden US Holdings II LLC
Term Loan B,
1-Month LIBOR + 3.25%, 4.90% (A), 12/01/2023		640,719		641,520
Infor, Inc.
Term Loan B6,
3-Month LIBOR + 2.75%, 4.69% (A), 02/01/2022		649,452		651,401
Informatica LLC
Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 08/05/2022		1,192,054		1,194,289
ION Trading Technologies SARL
Term Loan B,
3-Month LIBOR + 4.00%, 6.06% (A), 11/21/2024		638,886		605,877
Kronos, Inc.
2nd Lien Term Loan,
3-Month LIBOR + 8.25%, 10.16% (A), 11/01/2024		240,000		245,200
Term Loan B,
3-Month LIBOR + 3.00%, 4.91% (A), 11/01/2023		942,107		945,640

	Principal		Value
LOAN ASSIGNMENTS (continued)
Software (continued)
MA FinanceCo. LLC
Term Loan B2,
1-Month LIBOR + 2.25%, 3.90% (A), 11/19/2021		$   804,140		$   802,465
Term Loan B3,
1-Month LIBOR + 2.50%, 4.15% (A), 06/21/2024		61,780		61,336
McAfee LLC
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (A), 09/30/2024		1,253,839		1,258,541
Project Boost Purchaser LLC
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (A), 06/01/2026 (D)		1,022,219		1,026,692
RP Crown Parent LLC
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 10/12/2023		1,149,887		1,154,917
Seattle Spinco, Inc.
Term Loan B3,
1-Month LIBOR + 2.50%, 4.15% (A), 06/21/2024		417,216		414,217
Solera LLC
Term Loan B,
1-Month LIBOR + 2.75%, 4.40% (A), 03/03/2023		780,915		781,403
Sophia, LP
Term Loan B,
3-Month LIBOR + 3.25%, 5.19% (A), 09/30/2022		1,237,191		1,239,356
SS&C Technologies Holdings SARL
Term Loan B4,
1-Month LIBOR + 2.25%, 3.40% (A), 04/16/2025		94,728		94,772
SS&C Technologies, Inc.
Term Loan B3,
1-Month LIBOR + 2.25%, 3.40% (A), 04/16/2025		132,752		132,814
Term Loan B5,
1-Month LIBOR + 2.25%, 3.40% (A), 04/16/2025		223,722		223,932
Ultimate Software Group, Inc.
Term Loan B,
1-Month LIBOR + 3.75%, 5.40% (A), 05/04/2026		399,547		400,902
Vertafore, Inc.
1st Lien Term Loan,
1-Month LIBOR + 3.25%, 4.90% (A), 07/02/2025		1,033,184		1,021,130
2nd Lien Term Loan,
1-Month LIBOR + 7.25%, 8.90% (A), 07/02/2026		322,041		321,638
				20,788,819
Specialty Retail - 0.1%
Bass Pro Group LLC
Term Loan B,
1-Month LIBOR + 5.00%, 6.65% (A), 09/25/2024		781,053		778,450
JP Intermediate B LLC
Term Loan,
3-Month LIBOR + 5.50%, 7.28% (A), 11/20/2025		309,494		170,221
				948,671

The notes are an integral part of this report. Transamerica Funds Page    21

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Principal		Value
LOAN ASSIGNMENTS (continued)
Technology Hardware, Storage & Peripherals - 0.2%
Dell International LLC
Term Loan B,
1-Month LIBOR + 2.00%, 3.65% (A), 09/19/2025		$   607,820		$   610,099
Diebold, Inc.
Term Loan B,
1-Month LIBOR + 2.75%, 4.50% (A), 11/06/2023		864,683		836,041
NCR Corp.
Term Loan,
1-Month LIBOR + 2.50%, 4.15% (A), 08/28/2026		930,527		934,307
				2,380,447
Textiles, Apparel & Luxury Goods - 0.1%
Varsity Brands, Inc.
Term Loan B,
1-Month LIBOR + 3.50%, 5.15% (A), 12/15/2024		1,039,375		1,018,155
Trading Companies & Distributors - 0.1%
ASP Unifrax Holdings, Inc.
Term Loan B,
3-Month LIBOR + 3.75%, 5.69% (A), 12/12/2025		740,355		695,471
Univar, Inc.
Term Loan B,
1-Month LIBOR + 2.25%, 3.90% (A), 07/01/2024		506,058		507,640
Term Loan B5,
1-Month LIBOR + 2.00%, 3.65% (A), 07/01/2026		110,515		110,964
				1,314,075
Wireless Telecommunication Services - 0.3%
Altice France SA
Term Loan B12,
1-Month LIBOR + 3.69%, 5.36% (A), 01/31/2026		1,553,908		1,545,491
Term Loan B13,
1-Month LIBOR + 4.00%, 5.68% (A), 08/14/2026		357,597		356,895
Sprint Communications, Inc.
1st Lien Term Loan B,
1-Month LIBOR + 2.50%, 4.19% (A), 02/02/2024		1,565,554		1,542,070
				3,444,456
Total Loan Assignments (Cost $159,685,200)				158,551,509
U.S. GOVERNMENT AGENCY OBLIGATION - 0.1%
Federal National Mortgage Association
4.00%, 03/01/2049		1,061,914		1,109,614
Total U.S. Government Agency Obligation (Cost $1,091,448)				1,109,614
U.S. GOVERNMENT OBLIGATIONS - 1.8%
U.S. Treasury - 1.8%
U.S. Treasury Note
1.50%, 10/31/2021 - 09/30/2024		8,250,000		8,291,959
1.63%, 12/15/2022 - 08/15/2029		10,325,000		10,444,102
1.75%, 07/31/2021		1,288,000		1,294,390
1.75%, 11/15/2029 (C)		1,262,000		1,288,275
Total U.S. Government Obligations (Cost $21,037,825)				21,318,726

	Shares		Value
COMMON STOCKS - 0.0% (E)
Household Durables - 0.0% (E)
API Heat Transfer Intermediate Corp. (K) (L)		472,381		$   108,648
Machinery - 0.0% (E)
Ameriforge Group, Inc. (K) (L) (M)		2,679		128,592
Total Common Stocks (Cost $247,541)				237,240
PREFERRED STOCKS - 2.6%
Banks - 1.0%
Banco Santander SA,
Series 6, 3-Month LIBOR + 0.52%, 4.00% (A)		49,970		1,208,275
Bank of America Corp.,
Series K*, Fixed until 12/15/2066, 6.45% (A) (C)		6,800		180,744
Customers Bancorp, Inc.,
5.38%		128,000		3,289,600
Deutsche Bank Contingent Capital Trust II,
6.55% (C)		39,850		1,047,258
GMAC Capital Trust I,
Series 2, 3-Month LIBOR + 5.79%, 7.69% (A)		259,000		6,902,350
				12,628,227
Capital Markets - 0.1%
Oaktree Capital Group LLC
Series A, 6.63% (C)		14,800		404,188
Series B, 6.55% (C)		25,871		718,179
				1,122,367
Equity Real Estate Investment Trusts - 0.3%
City Office REIT, Inc.,
Series A, 6.63%		35,100		924,183
Office Properties Income Trust,
5.88% (C)		92,487		2,427,784
				3,351,967
Household Durables - 0.0% (E)
API Heat Transfer Intermediate Corp.,
0.00% (K)		100,682		76,518
Insurance - 0.4%
American Equity Investment Life Holding Co.,
Series A, Fixed until 12/01/2024, 5.95% (A)		178,200		4,679,532
Athene Holding, Ltd.,
Series A, Fixed until 06/30/2029, 6.35% (A)		10,512		300,643
				4,980,175
Mortgage Real Estate Investment Trusts - 0.3%
AGNC Investment Corp.,
Series E, Fixed until 10/15/2024, 6.50% (A)		140,000		3,633,000

The notes are an integral part of this report. Transamerica Funds Page    22

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
PREFERRED STOCKS (continued)
Oil, Gas & Consumable Fuels - 0.4%
Energy Transfer Operating, LP,
Series E, Fixed until 05/15/2024, 7.60% (A)		185,150		$   4,665,780
Real Estate Management & Development - 0.1%
Brookfield Property Partners, LP,
Series A-1, 6.50%		30,325		806,645
Total Preferred Stocks (Cost $30,282,479)				31,264,679
	Principal		Value
SHORT-TERM U.S. GOVERNMENT OBLIGATIONS - 4.9%
U.S. Treasury Bill
1.47% (N), 02/04/2020		$  15,000,000		14,999,426
1.50% (N), 04/16/2020		33,210,000		33,107,247
1.54% (N), 07/23/2020 (O)		600,000		595,736
1.55% (N), 03/24/2020 (O)		1,000,000		997,899
1.56% (N), 04/30/2020		5,000,000		4,981,631
1.65% (N), 04/02/2020		600,000		598,515
1.93% (N), 02/06/2020		3,000,000		2,999,634
Total Short-Term U.S. Government Obligations (Cost $58,278,276)				58,280,088

	Shares		Value
SHORT-TERM INVESTMENT COMPANIES - 2.7%
Money Market Funds - 2.7%
State Street Institutional U.S. Government Money Market Fund, 1.52% (N)		32,088,314		$   32,088,314
Total Short-Term Investment Companies (Cost $32,088,314)				32,088,314
OTHER INVESTMENT COMPANY - 1.2%
Securities Lending Collateral - 1.2%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 1.60% (N)		14,462,918		14,462,918
Total Other Investment Company (Cost $14,462,918)				14,462,918
Total Investments (Cost $1,198,677,059)				1,215,347,544
Net Other Assets (Liabilities) - (1.7)%				(19,904,510	)
Net Assets - 100.0%				$  1,195,443,034

FUTURES CONTRACTS:

Short Futures Contracts

Description	Number of Contracts			Expiration Date		Notional Amount				Value				Unrealized Appreciation			Unrealized Depreciation
5-Year U.S. Treasury Note		(348	)		03/31/2020		$	(41,430,228	)		$	(41,871,469	)		$	—		$	(441,241	)
10-Year U.S. Treasury Note		(881	)		03/20/2020			(114,801,501	)			(115,989,156	)			—			(1,187,655	)
Total Futures Contracts															$	—		$	(1,628,896	)

FORWARD FOREIGN CURRENCY CONTRACTS:

Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
JPMS	04/23/2020	USD	176,126,232	EUR	157,230,000	$	858,762	$    —

The notes are an integral part of this report. Transamerica Funds Page    23

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

SECURITY VALUATION:

Valuation Inputs ^(P)

	Level 1 - Unadjusted Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (Q)		Value
ASSETS
Investments
Asset-Backed Securities	$	—		$	194,684,293	$	—	$	194,684,293
Corporate Debt Securities		—			625,315,133		—		625,315,133
Foreign Government Obligations		—			78,035,030		—		78,035,030
Loan Assignments		—			158,551,509		—		158,551,509
U.S. Government Agency Obligation		—			1,109,614		—		1,109,614
U.S. Government Obligations		—			21,318,726		—		21,318,726
Common Stocks		—			108,648		128,592		237,240
Preferred Stocks		31,188,161			76,518		—		31,264,679
Short-Term U.S. Government Obligations		—			58,280,088		—		58,280,088
Short-Term Investment Companies		32,088,314			—		—		32,088,314
Other Investment Company		14,462,918			—		—		14,462,918
Total Investments	$	77,739,393		$	1,137,479,559	$	128,592	$	1,215,347,544
Other Financial Instruments
Forward Foreign Currency Contracts (R)	$	—		$	858,762	$	—	$	858,762
Total Other Financial Instruments	$	—		$	858,762	$	—	$	858,762
LIABILITIES
Other Financial Instruments
Futures Contracts (R)	$	(1,628,896	)	$	—	$	—	$	(1,628,896	)
Total Other Financial Instruments	$	(1,628,896	)	$	—	$	—	$	(1,628,896	)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Floating or variable rate securities. The rates disclosed are as of January 31, 2020. 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.
(B)	Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Unless otherwise indicated, the securities are deemed to be liquid for purposes of compliance limitations on holdings of illiquid securities and may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2020, the total value of 144A securities is $234,754,547, representing 19.6% of the Fund’s net assets.
(C)	All or a portion of the securities are on loan. The total value of all securities on loan is $14,164,529. 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)	When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after January 31, 2020. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(E)	Percentage rounds to less than 0.1% or (0.1)%.
(F)	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, 2020, the total value of Regulation S securities is $238,262,026, representing 19.9% of the Fund’s net assets.
(G)	Perpetual maturity. The date displayed is the next call date.
(H)	All or a portion of the security represents unsettled loan commitments at January 31, 2020 where the rate will be determined at time of settlement.

The notes are an integral part of this report. Transamerica Funds Page    24

Transamerica Unconstrained Bond

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS (continued):

(I) Restricted securities. At January 31, 2020, the value of such securities held by the Fund are as follows:

Investments	Description	Acquisition Date		Acquisition Cost		Value		Value as Percentage of Net Assets
Loan Assignments	Rentpath, Inc. 2nd Lien Term Loan 10.91%, 12/17/2022		02/08/2018 - 03/15/2018	$	764,338	$	88,693		0.0	%(E)
Loan Assignments	Alvogen Pharma US, Inc. Term Loan B 6.40%, 04/02/2022		06/19/2018		570,733		497,717		0.0	(E)
Total				$	1,335,071	$	586,410		0.0	%(E)

(J)	Payment in-kind. Security pays interest or dividends in the form of additional bonds or preferred stock. If the security makes a cash payment in addition to in-kind, the cash rate is disclosed separately.
(K)	Fair valued as determined in good faith in accordance with procedures established by the Board. At January 31, 2020, the total value of securities is $313,758, representing less than 0.1% of the Fund’s net assets.
(L)	Non-income producing securities.
(M)	Security is Level 3 of the fair value hierarchy.
(N)	Rates disclosed reflect the yields at January 31, 2020.
(O)	All or a portion of these securities have been segregated by the custodian as collateral to cover margin requirements for open futures contracts. The total value of such securities is $1,593,522.
(P)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.
(Q)	Level 3 securities were not considered significant to the Fund.
(R)	Futures contracts and/or forward foreign currency contracts are valued at unrealized appreciation (depreciation).

CURRENCY ABBREVIATIONS:

BRL	Brazilian Real
CLP	Chilean Peso
COP	Columbian Peso
EUR	Euro
IDR	Indonesian Rupiah
MXN	Mexican Peso
USD	United States Dollar

COUNTERPARTY ABBREVIATION:

JPMS JPMorgan Securities LLC

PORTFOLIO ABBREVIATIONS:

LIBOR	London Interbank Offered Rate
MTN	Medium Term Note
PIK	Payment in-kind
Prime Rate	Interest rate charged by banks to their most credit worthy customers
TBD	To Be Determined

The notes are an integral part of this report. Transamerica Funds Page    25

Transamerica US Growth

SCHEDULE OF INVESTMENTS

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS - 98.7%
Aerospace & Defense - 1.3%
Raytheon Co.		98,249		$  21,707,134
Beverages - 2.3%
Constellation Brands, Inc., Class A		110,193		20,749,342
Monster Beverage Corp. (A)		283,497		18,880,900
				39,630,242
Biotechnology - 2.5%
Biogen, Inc. (A)		25,657		6,897,884
Sarepta Therapeutics, Inc. (A)		61,349		7,114,030
Seattle Genetics, Inc. (A)		98,467		10,672,838
Vertex Pharmaceuticals, Inc. (A)		77,649		17,630,206
				42,314,958
Building Products - 1.4%
Fortune Brands Home & Security, Inc.		336,616		23,128,885
Capital Markets - 0.9%
Intercontinental Exchange, Inc.		157,049		15,664,067
Chemicals - 2.2%
PPG Industries, Inc.		127,942		15,332,570
Sherwin-Williams Co.		41,278		22,991,433
				38,324,003
Commercial Services & Supplies - 0.9%
Copart, Inc. (A)		145,756		14,788,404
Consumer Finance - 1.7%
American Express Co.		131,123		17,028,944
Capital One Financial Corp.		118,281		11,804,444
				28,833,388
Diversified Telecommunication Services - 0.7%
Verizon Communications, Inc.		190,005		11,293,897
Electrical Equipment - 1.7%
AMETEK, Inc.		155,193		15,077,000
Eaton Corp. PLC		140,460		13,269,256
				28,346,256
Electronic Equipment, Instruments & Components - 1.3%
CDW Corp.		104,137		13,584,672
Zebra Technologies Corp., Class A (A)		38,482		9,197,967
				22,782,639
Entertainment - 2.1%
Activision Blizzard, Inc.		246,309		14,404,151
Walt Disney Co.		158,001		21,853,118
				36,257,269
Equity Real Estate Investment Trusts - 1.5%
American Tower Corp.		111,634		25,870,063
Food & Staples Retailing - 1.5%
Costco Wholesale Corp.		84,767		25,898,014
Health Care Equipment & Supplies - 4.3%
Baxter International, Inc.		253,970		22,659,204

	Shares		Value
COMMON STOCKS (continued)
Health Care Equipment & Supplies (continued)
Becton Dickinson and Co.		49,933		$   13,740,563
Danaher Corp.		49,092		7,897,430
Edwards Lifesciences Corp. (A)		62,449		13,730,037
Teleflex, Inc.		42,138		15,654,688
				73,681,922
Health Care Providers & Services - 2.1%
UnitedHealth Group, Inc.		132,637		36,136,951
Hotels, Restaurants & Leisure - 2.0%
Hilton Worldwide Holdings, Inc.		174,278		18,787,168
McDonald’s Corp.		70,046		14,987,743
				33,774,911
Household Products - 1.9%
Colgate-Palmolive Co.		262,475		19,365,405
Procter & Gamble Co.		104,298		12,997,617
				32,363,022
Insurance - 0.8%
Allstate Corp.		114,826		13,611,474
Interactive Media & Services - 10.2%
Alphabet, Inc., Class A (A)		61,315		87,850,906
Alphabet, Inc., Class C (A)		15,003		21,517,753
Facebook, Inc., Class A (A)		315,517		63,706,037
				173,074,696
Internet & Direct Marketing Retail - 5.1%
Amazon.com, Inc. (A)		42,983		86,340,812
IT Services - 9.5%
EPAM Systems, Inc. (A)		53,042		12,101,002
FleetCor Technologies, Inc. (A)		97,314		30,676,292
Global Payments, Inc.		138,706		27,110,088
GoDaddy, Inc., Class A (A)		224,031		15,057,123
Mastercard, Inc., Class A		170,215		53,777,727
PayPal Holdings, Inc. (A)		196,829		22,416,855
				161,139,087
Life Sciences Tools & Services - 1.6%
Thermo Fisher Scientific, Inc.		89,664		28,081,868
Machinery - 2.8%
Illinois Tool Works, Inc.		118,379		20,713,957
Middleby Corp. (A)		39,100		4,385,456
Nordson Corp.		87,407		14,759,546
Snap-on, Inc.		51,919		8,287,830
				48,146,789
Oil, Gas & Consumable Fuels - 0.3%
Continental Resources, Inc.		187,078		5,092,263
Pharmaceuticals - 2.1%
Allergan PLC		67,281		12,557,326
Eli Lilly & Co.		164,172		22,924,978
				35,482,304
Professional Services - 1.3%
Equifax, Inc.		68,077		10,204,742
IHS Markit, Ltd. (A)		144,318		11,380,918
				21,585,660

The notes are an integral part of this report. Transamerica Funds Page    1

Transamerica US Growth

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Road & Rail - 1.4%
Norfolk Southern Corp.		63,288		$   13,177,194
Uber Technologies, Inc. (A)		271,748		9,861,735
				23,038,929
Semiconductors & Semiconductor Equipment - 3.3%
Advanced Micro Devices, Inc. (A)		373,412		17,550,364
Marvell Technology Group, Ltd.		583,033		14,016,113
Micron Technology, Inc. (A)		236,414		12,551,219
ON Semiconductor Corp. (A)		485,164		11,231,547
				55,349,243
Software - 14.9%
Adobe, Inc. (A)		97,091		34,092,534
DocuSign, Inc. (A)		153,484		12,050,029
Guidewire Software, Inc. (A)		104,508		11,757,150
Microsoft Corp.		639,621		108,882,683
salesforce.com, Inc. (A)		189,399		34,529,332
ServiceNow, Inc. (A)		62,940		21,288,196
SS&C Technologies Holdings, Inc.		228,698		14,410,261
Workday, Inc., Class A (A)		85,083		15,708,874
				252,719,059
Specialty Retail - 1.5%
TJX Cos., Inc.		431,911		25,500,025
Technology Hardware, Storage & Peripherals - 7.3%
Apple, Inc.		400,765		124,040,775

	Shares		Value
COMMON STOCKS (continued)
Textiles, Apparel & Luxury Goods - 4.3%
NIKE, Inc., Class B		309,614		$   29,815,828
PVH Corp.		152,004		13,250,189
Under Armour, Inc., Class C (A)		781,836		14,041,775
VF Corp.		200,097		16,602,048
				73,709,840
Total Common Stocks (Cost $968,000,052)				1,677,708,849
	Principal		Value
REPURCHASE AGREEMENT - 1.7%
Fixed Income Clearing Corp., 0.85% (B), dated 01/31/2020, to be repurchased at $29,688,317 on 02/03/2020. Collateralized by a U.S. Government Obligation, 2.63%, due 06/15/2021, and with a value of $30,283,562.		$  29,686,215		29,686,215
Total Repurchase Agreement (Cost $29,686,215)				29,686,215
Total Investments (Cost $997,686,267)				1,707,395,064
Net Other Assets (Liabilities) - (0.4)%				(6,157,376	)
Net Assets - 100.0%				$  1,701,237,688

SECURITY VALUATION:

Valuation Inputs ^(C)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Common Stocks	$	1,677,708,849	$	—	$	—	$	1,677,708,849
Repurchase Agreement		—		29,686,215		—		29,686,215
Total Investments	$	1,677,708,849	$	29,686,215	$	—	$	1,707,395,064

FOOTNOTES TO SCHEDULE OF INVESTMENTS:

(A)	Non-income producing securities.
(B)	Rate disclosed reflects the yield at January 31, 2020.
(C)	There were no transfers in or out of Level 3 during the period ended January 31, 2020. Please reference the Security Valuation section of the Notes to Schedules of Investments for more information regarding security valuation and pricing inputs.

The notes are an integral part of this report. Transamerica Funds Page    2

NOTES TO SCHEDULES OF INVESTMENTS

At January 31, 2020

(unaudited)

1. ORGANIZATION

Transamerica Funds (the “Trust”) is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Trust applies investment company accounting and reporting guidance. The funds (each, a “Fund” and collectively, the “Funds”) are each a series of the Trust and are as follows:

Fund Fund

Transamerica Asset Allocation – Conservative Portfolio (“Asset Allocation – Conservative”)

Transamerica Asset Allocation – Growth Portfolio (“Asset Allocation – Growth”)

Transamerica Asset Allocation – Moderate Growth Portfolio (“Asset Allocation – Moderate Growth”)

Transamerica Asset Allocation – Moderate Portfolio (“Asset Allocation – Moderate”)

Transamerica Asset Allocation Intermediate Horizon (“Intermediate Horizon”)

Transamerica Asset Allocation Long Horizon (“Long Horizon”)

Transamerica Asset Allocation Short Horizon (“Short Horizon”)

Transamerica Balanced II (“Balanced II”)

Transamerica Bond (“Bond”)

Transamerica Capital Growth (“Capital Growth”)

Transamerica ClearTrack^® 2015 (“ClearTrack^® 2015”)

Transamerica ClearTrack^® 2020 (“ClearTrack^® 2020”)

Transamerica ClearTrack^® 2025 (“ClearTrack^® 2025”)

Transamerica ClearTrack^® 2030 (“ClearTrack^® 2030”)

Transamerica ClearTrack^® 2035 (“ClearTrack^® 2035”)

Transamerica ClearTrack^® 2040 (“ClearTrack^® 2040”)

Transamerica ClearTrack^® 2045 (“ClearTrack^® 2045”)

Transamerica ClearTrack^® 2050 (“ClearTrack^® 2050”)

Transamerica ClearTrack^® 2055 (“ClearTrack^® 2055”)

Transamerica ClearTrack^® 2060 (“ClearTrack^® 2060”)

Transamerica ClearTrack^® Retirement Income (“ClearTrack^® Retirement Income”)

Transamerica Core Bond (“Core Bond”)

Transamerica Dividend Focused (“Dividend Focused”)

Transamerica Dynamic Income (“Dynamic Income”)

Transamerica Emerging Markets Debt (“Emerging Markets Debt”)

Transamerica Emerging Markets Equity (“Emerging Markets Equity”)

Transamerica Emerging Markets Opportunities (“Emerging Markets Opportunities”)

Transamerica Event Driven (“Event Driven”)

Transamerica Floating Rate (“Floating Rate”)

Transamerica Global Equity (“Global Equity”)

Transamerica Global Multifactor Macro (“Global Multifactor Macro”)^(A)

Transamerica Global Real Estate Securities (“Global Real Estate Securities”)

Transamerica High Quality Bond (“High Quality Bond”)

Transamerica High Yield Bond (“High Yield Bond”)

Transamerica High Yield Muni (“High Yield Muni”)

Transamerica Inflation Opportunities (“Inflation Opportunities”)

Transamerica Inflation-Protected Securities (“Inflation-Protected Securities”)

Transamerica Intermediate Bond (“Intermediate Bond”)

Transamerica Intermediate Muni (“Intermediate Muni”)

Transamerica International Equity (“International Equity”)

Transamerica International Growth (“International Growth”)

Transamerica International Small Cap Value (“International Small Cap Value”)

Transamerica International Stock (“International Stock”)

Transamerica International Value (“International Value”)

Transamerica Large Cap Value (“Large Cap Value”)

Transamerica Large Core (“Large Core”)

Transamerica Large Growth (“Large Growth”)

Transamerica Large Value Opportunities (“Large Value Opportunities”)

Transamerica Long/Short Strategy (“Long/Short Strategy”)

Transamerica Managed Futures Strategy (“Managed Futures Strategy”)^(A)

Transamerica Mid Cap Growth (“Mid Cap Growth”)

Transamerica Mid Cap Value (“Mid Cap Value”)

Transamerica Mid Cap Value Opportunities (“Mid Cap Value Opportunities”)

Transamerica MLP & Energy Income (“MLP & Energy Income”)

Transamerica Multi-Asset Income (“Multi-Asset Income”)

Transamerica Multi-Managed Balanced (“Multi-Managed Balanced”)

Transamerica Multi-Manager Alternative Strategies Portfolio (“Multi-Manager Alternative Strategies”)

Transamerica Short-Term Bond (“Short-Term Bond”)

Transamerica Small Cap Core (“Small Cap Core”)

Transamerica Small Cap Growth (“Small Cap Growth”)

Transamerica Small Cap Value (“Small Cap Value”)

Transamerica Small/Mid Cap Value (“Small/Mid Cap Value”)

Transamerica Total Return (“Total Return”)

Transamerica Unconstrained Bond (“Unconstrained Bond”)

Transamerica US Growth (“US Growth”)

(A) Transamerica Cayman Global Multifactor Macro, Ltd. and Transamerica Cayman Managed Futures Strategy, Ltd. are wholly-owned subsidiaries which act as investment vehicles for Global Multifactor Macro and Managed Futures Strategy, respectively. Please reference the Basis for Consolidation section of the Notes to Schedule of Investments for more information.

Transamerica Funds Page    1

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

1. ORGANIZATION (continued)

Emerging Markets Debt, Event Driven, Global Multifactor Macro, Global Real Estate Securities, High Yield Muni, Managed Futures Strategy and MLP & Energy Income are “non-diversified” Funds, as defined under the 1940 Act.

Transamerica Asset Management, Inc. (“TAM”) serves as investment manager for the Funds pursuant to an investment management agreement. TAM provides continuous and regular investment management services to the Funds. TAM supervises each Fund’s investments, conducts its investment program and provides supervisory, compliance and administrative services to the Funds.

TAM currently acts as a “manager of managers” and hires sub-advisers to furnish day-to-day investment advice and recommendations. TAM may, in the future, determine to provide all aspects of the day-to-day management of a Fund without the use of a sub-adviser. When acting as a manager of managers, TAM provides investment management services that include, without limitation, the design and development of the Funds and their investment strategies and the ongoing review and evaluation of those investment strategies including recommending changes in strategy where it believes appropriate or advisable; the selection of one or more sub-advisers for the Funds employing a combination of quantitative and qualitative screens, research, analysis and due diligence; negotiation of sub-advisory agreements and fees; oversight and monitoring of sub-advisers and recommending changes to sub-advisers where it believes appropriate or advisable; recommending fund combinations and liquidations where it believes appropriate or advisable; selection and oversight of transition managers, as needed; regular supervision of the Funds’ investments; regular review and evaluation of sub-adviser performance; daily monitoring of the sub-advisers’ buying and selling of securities for the Funds; regular review of holdings; ongoing trade oversight and analysis; regular monitoring to ensure adherence to investment process; regular calls and periodic on-site visits with sub-advisers; portfolio construction and asset allocation when using multiple sub-advisers for a Fund; risk management oversight and analysis; oversight of negotiation of investment documentation and agreements; design, development, implementation and regular monitoring of the valuation process; periodic due diligence reviews of pricing vendors and vendor methodology; design, development, implementation and regular monitoring of the compliance process; respond to regulatory inquiries and determine appropriate litigation strategy, as needed; review of proxies voted by sub-advisers; oversight of preparation, and review, of materials for meetings of the Funds’ Board of Trustees (the “Board”), participation in these meetings and preparation of regular communications with the Board; oversight of preparation, and review, of prospectuses, shareholder reports and other disclosure materials and regulatory filings for the Funds; oversight of other service providers to the Funds, such as the custodian, the transfer agent, the Funds’ independent accounting firm and legal counsel; supervision of the performance of recordkeeping and shareholder relations functions for the Funds; and oversight of cash management services. TAM uses a variety of quantitative and qualitative tools to carry out its investment management services. TAM, not the Funds, is responsible for paying the sub-adviser(s) for their services, and sub-advisory fees are TAM’s expense.

TAM’s investment management services also include the provision of supervisory and administrative services to the Funds. These services include performing certain administrative services for the Funds and supervising and overseeing the administrative, clerical, recordkeeping and bookkeeping services provided to the Funds by State Street Bank and Trust Company (“State Street”), to whom TAM has outsourced the provision of certain services as described below: to the extent agreed upon by TAM and the Funds from time to time, monitoring and verifying the custodian’s daily calculation of the Net Asset Values (“NAV”); shareholder relations functions; compliance services; valuation services; assisting in due diligence and in the oversight and monitoring of certain activities of sub-advisers and certain aspects of Fund investments; assisting with Fund combinations and liquidations; oversight of the preparation and filing, and review, of all returns and reports, in connection with federal, state and local taxes; oversight and review of regulatory reporting; supervising and coordinating the Funds’ custodian and dividend disbursing agent and monitoring their services to the Funds; assisting the Funds in preparing reports to shareholders; acting as liaison with the Funds’ independent public accountants and providing, upon request, analyses, fiscal year summaries and other audit related services; assisting in the preparation of agendas and supporting documents for and minutes of meetings of trustees and committees of trustees; assisting in the preparation of regular communications with the trustees; and providing personnel and office space, telephones and other office equipment as necessary in order for TAM to perform supervisory and administrative services to the Funds.

2. BASIS FOR CONSOLIDATION

Transamerica Cayman Global Multifactor Macro, Ltd. and Transamerica Cayman Managed Futures Strategy, Ltd. (each, a “Subsidiary” and collectively, the “Subsidiaries”) are organized under the laws of the Cayman Islands and are wholly-owned subsidiaries which act as investment vehicles for Global Multifactor Macro and Managed Futures Strategy, respectively. The principal purpose of investment in the Subsidiaries is to allow the Funds noted above to gain exposure to the commodity markets within the limitations of the federal tax law requirements applicable to regulated investment companies.

At January 31, 2020, the net assets of each Subsidiary as a percentage of each Fund’s net assets is as follows:

Fund	Subsidiary	Subsidiary Net Assets		Percentage of Net Assets
Global Multifactor Macro	Transamerica Cayman Global Multifactor Macro, Ltd.	$	15,541,046		23.38	%
Managed Futures Strategy	Transamerica Cayman Managed Futures Strategy, Ltd.		26,543,561		23.05

3. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed by the Funds.

Transamerica Funds Page    2

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

3. SIGNIFICANT ACCOUNTING POLICIES (continued)

Foreign currency denominated investments: The accounting records of the Funds are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the closing exchange rate each day. The cost of foreign securities purchased and any realized gains or losses are translated at the prevailing exchange rates in effect on the date of the respective transaction. Each Fund combines fluctuations from currency exchange rates and fluctuations in value when computing net realized and unrealized gains or losses from investments.

Net foreign currency gains and losses resulting from changes in exchange rates include, foreign currency fluctuations between trade date and settlement date of investment security transactions, gains and losses on forward foreign currency contracts, and the difference between the receivable amounts of interest and dividends recorded in the accounting records in U.S. dollars and the amounts actually received.

Foreign currency denominated assets may involve risks not typically associated with domestic transactions. These risks include revaluation of currencies, adverse fluctuations in foreign currency values, and possible adverse political, social, and economic developments, including those particular to a specific industry, country or region.

Security transactions and investment income: Security transactions are accounted for on the trade date. Security gains and losses are calculated on a first-in, first-out basis. Dividend income, if any, is recorded on the ex-dividend date or, in the case of foreign securities, as soon as the Funds are informed of the ex-dividend dates, net of foreign taxes. Interest income, if any, is recorded on the accrual basis from settlement date, net of foreign taxes. Fixed income premiums and discounts are amortized and/or accreted over the lives of the respective securities.

4. SECURITY VALUATION

All investments in securities are recorded at their estimated fair value. The Funds value their investments at the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

The Funds utilize various methods to measure the fair value of their 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 the Funds’ own assumptions used in determining the fair value of 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 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 Funds’ investments at January 31, 2020, is disclosed within the Security Valuation section of each Fund’s Schedule of Investments or Consolidated 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 Funds’ 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.

Exchange-traded funds (“ETF”): ETFs are stated at the last reported sale price or closing price on the day of valuation taken from the primary exchange where the ETF is principally traded. ETFs are generally categorized in Level 1 of the fair value hierarchy.

Foreign equity securities: Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, or ETFs and the movement of certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

Transamerica Funds Page    3

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

4. SECURITY VALUATION (continued)

Investment companies: Certain investment companies are valued at the NAV of the underlying Funds as the practical expedient. These investment companies are not included within the fair value hierarchy. Certain other investment companies are valued at the actively traded NAV of the underlying funds and no valuation adjustments are applied. These investment companies are categorized in Level 1 of the fair value hierarchy.

Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

Commercial paper: Commercial paper is valued using amortized cost, which approximates fair value. The values are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Convertible bonds: The fair value of convertible bonds is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, broker price quotations (where observable), and models incorporating benchmark curves, underlying stock data, and foreign exchange rates. While most convertible bonds 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.

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.

Loan assignments: Loan assignments are normally valued using an income approach, which projects future cash flows and converts those future cash flows to a present value using a discount rate. The resulting present value reflects the likely fair value of the loan. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise are categorized in Level 3.

Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

Municipal government obligations: The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.

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.

Short-term notes: A 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.

U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.

Transamerica Funds Page    4

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

4. SECURITY VALUATION (continued)

U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Warrants: Warrants may be priced intrinsically using a model that incorporates the subscription or strike price, the daily market price for the underlying security, and a subscription ratio. If the inputs are unavailable, or if the subscription or strike price is higher than the market price, then the warrants are priced at zero. Warrants are generally categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Restricted securities: Restricted securities for which quotations are not readily available are valued at fair value. Restricted securities issued by publicly traded companies are generally valued at a discount to similar publicly traded securities. Restricted securities issued by nonpublic entities may be valued by reference to comparable public entities and/or fundamental data relating to the issuer. Depending on the relative significance of observable valuation inputs, these instruments may be classified in either Level 2 or Level 3 of the fair value hierarchy. Certain investments are measured at fair value using the net asset value per share, or its equivalent, practical expedient and have not been classified in the fair value hierarchy.

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Funds 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.

5. SECURITIES AND OTHER INVESTMENTS

Loan participations and assignments: The Funds may invest in direct debt instruments which are interests in amounts owed to lenders or lending syndicates by corporate, governmental, or other borrowers, either in the form of participations at the time the loan is originated (“Participations”) or buying an interest in the loan in the secondary market from a financial institution or institutional investor (“Assignments”). Participations and Assignments in commercial loans may be secured or unsecured. These investments may include standby financing commitments, including revolving credit facilities that obligate the Funds to supply additional cash to the borrowers on demand. Loan Participations and Assignments involve risks of insolvency of the lending banks or other financial intermediaries. As such, the Funds assume the credit risks associated with the corporate borrowers and may assume the credit risks associated with the interposed banks or other financial intermediaries.

Each Fund, based on its ability to invest in Loan Participations and Assignments, may be contractually obligated to receive approval from the agent banks and/or borrowers prior to the sale of these investments. The Funds that participate in such syndications, or that can buy a portion of the loans, become part lenders. Loans are often administered by agent banks acting as agents for all holders.

The agent banks administer the terms of the loans, as specified in the loan agreements. In addition, the agent banks are normally responsible for the collection of principal and interest payments from the corporate borrowers and the apportionment of these payments to the credit of all institutions that are parties to the loan agreements. Unless the Funds have direct recourse against the corporate borrowers under the terms of the loans or other indebtedness, the Funds may have to rely on the agent banks or other financial intermediaries to apply appropriate credit remedies against corporate borrowers.

Unfunded commitments represent the remaining obligation of the Funds to the borrower. At any point in time, up to the maturity date of the issue, the borrower may demand the unfunded portion. Funds not listed in the subsequent table do not have any unfunded commitments during the period.

Fund	Principal Commitment		Unrealized Appreciation (Depreciation)
Floating Rate
Mavis Tire Express Services Corp., Delayed Draw Term Loan	$	63,552	$	(1,430	)
Safety Products/JHC Acquisition Corp., Delayed Draw Term Loan		60,201		(1,871	)
Total	$	123,753	$	(3,301	)
High Yield Bond
Connect Finco Sarl, Delayed Draw Term Loan	$	3,081,587	$	(77,164	)
Total	$	3,081,587	$	(77,164	)

Transamerica Funds Page    5

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

5. SECURITIES AND OTHER INVESTMENTS (continued)

Fund	Principal Commitment		Unrealized Appreciation (Depreciation)
Unconstrained Bond
Mavis Tire Express Services Corp., Delayed Draw Term Loan	$	114,162	$	(1,037	)
Motion Finco Sarl, Delayed Draw Term Loan B2		22,832		163
Total	$	136,994	$	(874	)

Open secured loan participations and assignments at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

Payment in-kind (“PIK”) securities: PIKs give the issuer the option of making interest payments in either cash or additional debt securities at each interest payment date. Those additional debt securities usually have the same terms, including maturity dates and interest rates, and associated risks as the original bonds.

PIKs held at January 31, 2020, if any, are identified within the Schedule of Investments or Consolidated Schedule of Investments.

Real estate investment trusts (“REIT”): REITs are pooled investment vehicles which invest primarily in income producing real estate, or real estate related loans or interests. Distributions received by REITs are classified at management’s estimate of the dividend income, return of capital and capital gains. Estimates are based on information available at year-end, which includes the previous fiscal year’s classification. The actual amounts of dividend income, return of capital, and capital gains are only determined by each REIT after the fiscal year end and may differ from the estimated amounts. Upon notification from the REITs, some of the distributions received may be re-classified and recorded as a return of capital or capital gains. There are certain additional risks involved in investing in REITs. These include, but are not limited to, economic conditions, changes in zoning laws, real estate values, property taxes, and interest rates.

REITs held at January 31, 2020, if any, are identified within the Schedule of Investments or Consolidated Schedule of Investments.

Restricted securities: The Funds may invest in unregulated restricted securities. Restricted securities are subject to legal or contractual restrictions on resale. Restricted securities generally may be resold in transactions exempt from registration under the Securities Act of 1933.

Restricted securities held at January 31, 2020, if any, are identified within the Schedule of Investments or Consolidated Schedule of Investments.

Treasury inflation-protected securities (“TIPS”): Certain Funds may invest in TIPS, which are fixed income securities whose principal value is periodically adjusted according to the rate of inflation/deflation. If the index measuring inflation/deflation rises or falls, the principal value of TIPS will be adjusted upward or downward, and consequently the interest payable on these securities (calculated with respect to a larger or smaller principal amount) will be increased or reduced, respectively. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds and notes. For bonds and notes that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal.

TIPS held at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

When-issued, delayed-delivery, forward, and to be announced (“TBA”) commitment transactions: The Funds may purchase or sell securities on a when-issued, delayed-delivery, forward and TBA commitment basis. When-issued and forward commitment transactions are made conditionally because a security, although authorized, has not yet been issued in the market. Settlement of such transactions normally occurs within a month or more after the purchase or sale commitment is made. The Funds engage in when-issued and forward commitment transactions to obtain an advantageous price and yield at the time of the transaction. The Funds engage in when-issued and forward commitment transactions for the purpose of acquiring securities, but may enter into a separate agreement to sell the securities before the settlement date. Since the value of securities purchased may fluctuate prior to settlement, the Funds may be required to pay more at settlement than the security is worth. In addition, the Funds are not entitled to any of the interest earned prior to settlement.

Delayed-delivery transactions involve a commitment by the Funds to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed-delivery transactions are outstanding, the Funds will segregate with their custodian either cash, U.S. government securities, or other liquid assets at least equal to the value or purchase commitments until payment is made. When purchasing a security on a delayed-delivery basis, the Funds assume the rights and risks of ownership of the security, including the risk of price and yield fluctuations. These transactions also involve a risk to the Funds if the other party to the transaction defaults on its obligation to make payment or delivery, and the Funds are delayed or prevented from completing the transaction. The Funds may dispose of or renegotiate a delayed-delivery transaction after it is entered into, which may result in a realized gain or loss. When the Funds sell a security on a delayed-delivery basis, the Funds do not participate in future gains and losses on the security.

TBA commitments are entered into to purchase or sell securities for a fixed price at a future date, typically not to exceed 45 days. TBAs are considered securities in themselves, and involve a risk of loss if the value of the security to be purchased declines, or the value of the security sold increases, prior to settlement date, in addition to the risk of decline in the value of a Fund’s other assets. Unsettled TBA commitments are valued at the current value of the underlying securities.

When-issued, delayed-delivery, forward and TBA commitment transactions held at January 31, 2020, if any, are identified within the Schedule of Investments or Consolidated Schedule of Investments.

Transamerica Funds Page    6

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS

The Funds may engage in borrowing transactions as a means of raising cash to satisfy redemption requests, for other temporary or emergency purposes or, to the extent permitted by their investment policies, to raise additional cash to be invested in other securities or instruments. When the Funds invest borrowing proceeds in other securities, the Funds will bear the risk that the market value of the securities in which such proceeds are invested goes down and is insufficient to repay the borrowed proceeds. The Funds may borrow on a secured or on an unsecured basis. If the Funds enter into a secured borrowing arrangement, a portion of the Funds’ assets will be used as collateral. The 1940 Act requires the Funds to maintain asset coverage of at least 300% of the amount of their borrowings. Asset coverage means the ratio that the value of the Funds’ total assets, minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. Although complying with this requirement has the effect of limiting the amount that the Funds may borrow, it does not otherwise mitigate the risks of entering into borrowing transactions.

Interfund lending: The Funds, along with other funds and portfolios advised by TAM, may participate in an interfund lending program pursuant to exemptive relief granted by the Securities and Exchange Commission on January 18, 2017. This program allows the Funds to lend to and borrow from other funds and portfolios advised by TAM. Interfund lending transactions are subject to the conditions of the exemptive relief which place limits on the amount of lending or borrowing a Fund may participate in under the program. Interest earned or paid on an interfund lending transaction will be based on the average of certain current market rates. For the period ended January 31, 2020, the Funds have not utilized the program.

Repurchase agreements: In a repurchase agreement, the Funds purchase a security and simultaneously commit to resell that security to the seller at an agreed-upon price on an agreed-upon date. Securities purchased subject to a repurchase agreement are held at the Funds’ custodian, or designated sub-custodian related to tri-party repurchase agreements, and, pursuant to the terms of the repurchase agreement, must be collateralized by securities with an aggregate market value greater than or equal to 100% of the resale price. The Funds will bear the risk of value fluctuations until the securities can be sold and may encounter delays and incur costs in liquidating the securities. In the event of bankruptcy or insolvency of the seller, delays and costs may be incurred.

Repurchase agreements are subject to netting agreements, which are agreements between the Funds and their counterparties that provide for the net settlement of all transactions and collateral with the Funds, through a single payment, in the event of default or termination. Amounts presented within the Schedule of Investments or Consolidated Schedule of Investments are shown on a gross basis. The value of the related collateral for each repurchase agreement, as reflected within the Schedule of Investments or Consolidated Schedule of Investments, exceeds the value of each repurchase agreement at January 31, 2020.

Repurchase agreements at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

Reverse repurchase agreements: The Funds may enter into reverse repurchase agreements in which the Funds sell portfolio securities and agree to repurchase them from the buyer at a specified date and price. The Funds may utilize reverse repurchase agreements when it is anticipated that the interest income to be earned from the investment of the proceeds of the transaction is greater than the interest expense of the transaction. Reverse repurchase agreements are considered to be a form of borrowing. Pursuant to the terms of the reverse repurchase agreements, the Funds’ custodian must segregate assets with an aggregate market value greater than or equal to 100% of the repurchase price. In periods of increased demand for the security, the Funds may receive a fee for use of the security by the counterparty, which may result in interest income to the Funds. Reverse repurchase agreements involve leverage risk and also the risk that the market value of the securities that the Funds are obligated to repurchase under the agreement may decline below the repurchase price. The Funds are subject to the risk that the buyer under the agreement may file for bankruptcy, become insolvent, or otherwise default on its obligations to the Funds. In the event of a default by the counterparty, there may be delays, costs and risks of loss involved in the Funds exercising their rights under the agreement, or those rights may be limited by other contractual agreements.

For the period ended January 31, 2020, the Funds’ average borrowings are as follows. Funds not listed in the subsequent table do not have any reverse repurchase agreements during the period.

Fund	Average Daily Borrowing		Number of Days Outstanding		Weighted Average Interest Rate
Total Return	$	197,640,292		92		1.86	%

Open reverse repurchase agreements at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

Sale-buyback: The Funds may enter into sale-buyback financing transactions. The Funds account for sale-buyback financing transactions as borrowing transactions and realize gains and losses on these transactions at the end of the roll period. Sale-buyback financing transactions involve sales by the Funds of securities and simultaneously contracts to repurchase the same or substantially similar securities at an agreed upon price and date.

Transamerica Funds Page    7

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

The Funds forgo principal and interest paid during the roll period on the securities sold in a sale-buyback financing transaction. The Funds are compensated by the difference between the current sales price and the price for the future purchase (often referred to as the “price drop”), as well as by any interest earned on the proceeds of the securities sold. Sale-buyback financing transactions may be renewed with a new sale and a repurchase price and a cash settlement made at each renewal without physical delivery of the securities subject to the contract. Sale-buyback financing transactions expose the Funds to risks such as, the buyer under the agreement may file for bankruptcy, become insolvent, or otherwise default on its obligations to the Funds, the market value of the securities the Funds are obligated to repurchase under the agreement may decline below the repurchase price. The Funds’ obligations under a sale-buyback typically would be offset by liquid assets equal in value to the amount of the Funds’ forward commitment to repurchase the subject security. Sale-buyback financing transactions accounted for as borrowing transactions are excluded from the Funds’ portfolio turnover rates.

For the period ended January 31, 2020, the Funds’ average borrowings are as follows. Funds not listed in the subsequent table do not have any sale-buybacks during the period.

Fund	Average Daily Borrowing		Number of Days Outstanding		Weighted Average Interest Rate
Total Return	$	1,018,454		19		1.67	%

Open sale-buyback financing transactions at January 31, 2020, if any, are identified within the Schedule of Investments or Consolidated Schedule of Investments.

Securities lending: Securities are lent to qualified financial institutions and brokers. State Street serves as securities lending agent to the Funds pursuant to a Securities Lending Agreement. The lending of securities exposes the Funds to risks such as; the borrowers may fail to return the loaned securities or may not be able to provide additional collateral, the Funds may experience delays in recovery of the loaned securities or delays in access to collateral, or the Funds may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge cash collateral with a value of at least 102% of the current value of the loaned securities on non-U.S. fixed income investments, as well as on securities traded on U.S. exchanges. Loan counterparties pledge cash collateral with a value of at least 105% of the current value of the loaned securities for non-U.S. equity positions. The lending agent has agreed to indemnify the Funds in the case of default of any securities borrower.

Cash collateral received is invested in the State Street Navigator Securities Lending Trust—Government Money Market Portfolio (the “Navigator”), a money market mutual fund registered under the 1940 Act.

The value of loaned securities and related collateral outstanding at January 31, 2020, if any, are shown on a gross basis within the Schedule of Investments or Consolidated Schedule of Investments.

Short sales: A short sale is a transaction in which the Funds sell securities they do not own, but have borrowed, in anticipation of a decline in the fair market value of the securities. The Funds are obligated to replace the borrowed securities at the market price at the time of replacement. The Funds’ obligation to replace the securities borrowed in connection with a short sale is fully secured by collateral deposited with the custodian. In addition, the Funds consider the short sale to be a borrowing by the Funds that is subject to the asset coverage requirements of the 1940 Act. Short sales represent an aggressive trading practice with a high risk/return potential, and short sales involve special considerations. Risks of short sales include that possible losses from short sales may be unlimited (e.g., if the price of stocks sold short rises), whereas losses from direct purchases of securities are limited to the total amount invested, and the Funds may be unable to replace borrowed securities sold short.

Open short sale transactions at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of January 31, 2020. Funds not listed in the subsequent table have not entered into secured borrowing transactions.

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Balanced II
Securities Lending Transactions
Common Stocks	$	179,948	$	—	$	—	$	—	$	179,948
Corporate Debt Securities		1,681,472		—		—		—		1,681,472
Total Securities Lending Transactions	$	1,861,420	$	—	$	—	$	—	$	1,861,420
Total Borrowings	$	1,861,420	$	—	$	—	$	—	$	1,861,420
Bond
Securities Lending Transactions
Corporate Debt Securities	$	26,639,039	$	—	$	—	$	—	$	26,639,039
U.S. Government Obligations		10,678,632		—		—		—		10,678,632
Total Securities Lending Transactions	$	37,317,671	$	—	$	—	$	—	$	37,317,671
Total Borrowings	$	37,317,671	$	—	$	—	$	—	$	37,317,671

Transamerica Funds Page    8

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Capital Growth
Securities Lending Transactions
Common Stocks	$	107,710,820	$	—	$	—	$	—	$	107,710,820
Total Borrowings	$	107,710,820	$	—	$	—	$	—	$	107,710,820
ClearTrack® 2015
Securities Lending Transactions
Exchange-Traded Funds	$	4,459,200	$	—	$	—	$	—	$	4,459,200
Total Borrowings	$	4,459,200	$	—	$	—	$	—	$	4,459,200
ClearTrack® 2020
Securities Lending Transactions
Exchange-Traded Funds	$	1,174,201	$	—	$	—	$	—	$	1,174,201
Total Borrowings	$	1,174,201	$	—	$	—	$	—	$	1,174,201
ClearTrack® 2025
Securities Lending Transactions
Exchange-Traded Funds	$	2,549,485	$	—	$	—	$	—	$	2,549,485
Total Borrowings	$	2,549,485	$	—	$	—	$	—	$	2,549,485
ClearTrack® 2030
Securities Lending Transactions
Exchange-Traded Funds	$	5,386,028	$	—	$	—	$	—	$	5,386,028
Total Borrowings	$	5,386,028	$	—	$	—	$	—	$	5,386,028
ClearTrack® 2035
Securities Lending Transactions
Exchange-Traded Funds	$	574,342	$	—	$	—	$	—	$	574,342
Total Borrowings	$	574,342	$	—	$	—	$	—	$	574,342
ClearTrack® 2040
Securities Lending Transactions
Exchange-Traded Funds	$	2,565,592	$	—	$	—	$	—	$	2,565,592
Total Borrowings	$	2,565,592	$	—	$	—	$	—	$	2,565,592
ClearTrack® 2045
Securities Lending Transactions
Exchange-Traded Funds	$	4,850,294	$	—	$	—	$	—	$	4,850,294
Total Borrowings	$	4,850,294	$	—	$	—	$	—	$	4,850,294
ClearTrack® 2050
Securities Lending Transactions
Exchange-Traded Funds	$	1,870,718	$	—	$	—	$	—	$	1,870,718
Total Borrowings	$	1,870,718	$	—	$	—	$	—	$	1,870,718
ClearTrack® 2055
Securities Lending Transactions
Exchange-Traded Funds	$	189,430	$	—	$	—	$	—	$	189,430
Total Borrowings	$	189,430	$	—	$	—	$	—	$	189,430
ClearTrack® 2060
Securities Lending Transactions
Exchange-Traded Funds	$	184,856	$	—	$	—	$	—	$	184,856
Total Borrowings	$	184,856	$	—	$	—	$	—	$	184,856
ClearTrack® Retirement Income
Securities Lending Transactions
Exchange-Traded Funds	$	1,544,779	$	—	$	—	$	—	$	1,544,779
Total Borrowings	$	1,544,779	$	—	$	—	$	—	$	1,544,779

Transamerica Funds Page    9

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Core Bond
Securities Lending Transactions
Corporate Debt Securities	$	6,954,392	$	—	$	—	$	—	$	6,954,392
U.S. Government Obligations		8,247,416		—		—		—		8,247,416
Total Securities Lending Transactions	$	15,201,808	$	—	$	—	$	—	$	15,201,808
Total Borrowings	$	15,201,808	$	—	$	—	$	—	$	15,201,808
Dynamic Income
Securities Lending Transactions
Exchange-Traded Funds	$	42,028,361	$	—	$	—	$	—	$	42,028,361
Total Borrowings	$	42,028,361	$	—	$	—	$	—	$	42,028,361
Emerging Markets Debt
Securities Lending Transactions
Corporate Debt Securities	$	9,196,940	$	—	$	—	$	—	$	9,196,940
Foreign Government Obligations		4,934,163		—		—		—		4,934,163
Total Securities Lending Transactions	$	14,131,103	$	—	$	—	$	—	$	14,131,103
Total Borrowings	$	14,131,103	$	—	$	—	$	—	$	14,131,103
Emerging Markets Equity
Securities Lending Transactions
Common Stocks	$	2,764,263	$	—	$	—	$	—	$	2,764,263
Total Borrowings	$	2,764,263	$	—	$	—	$	—	$	2,764,263
Event Driven
Securities Lending Transactions
Common Stocks	$	898,135	$	—	$	—	$	—	$	898,135
Convertible Bonds		1,071,844		—		—		—		1,071,844
Total Securities Lending Transactions	$	1,969,979	$	—	$	—	$	—	$	1,969,979
Total Borrowings	$	1,969,979	$	—	$	—	$	—	$	1,969,979
Floating Rate
Securities Lending Transactions
Corporate Debt Securities	$	920,690	$	—	$	—	$	—	$	920,690
Exchange-Traded Funds		520,525		—		—		—		520,525
Total Securities Lending Transactions	$	1,441,215	$	—	$	—	$	—	$	1,441,215
Total Borrowings	$	1,441,215	$	—	$	—	$	—	$	1,441,215
Global Equity
Securities Lending Transactions
Common Stocks	$	533,352	$	—	$	—	$	—	$	533,352
Total Borrowings	$	533,352	$	—	$	—	$	—	$	533,352
Global Real Estate Securities
Securities Lending Transactions
Common Stocks	$	116,370	$	—	$	—	$	—	$	116,370
Total Borrowings	$	116,370	$	—	$	—	$	—	$	116,370
High Quality Bond
Securities Lending Transactions
Corporate Debt Securities	$	4,120	$	—	$	—	$	—	$	4,120
Total Borrowings	$	4,120	$	—	$	—	$	—	$	4,120
High Yield Bond
Securities Lending Transactions
Corporate Debt Securities	$	31,288,123	$	—	$	—	$	—	$	31,288,123
Total Borrowings	$	31,288,123	$	—	$	—	$	—	$	31,288,123
High Yield Muni
Securities Lending Transactions
Corporate Debt Securities	$	105,176	$	—	$	—	$	—	$	105,176
Investment Companies		33,124		—		—		—		33,124
Total Securities Lending Transactions	$	138,300	$	—	$	—	$	—	$	138,300
Total Borrowings	$	138,300	$	—	$	—	$	—	$	138,300

Transamerica Funds Page    10

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Inflation Opportunities
Securities Lending Transactions
Corporate Debt Securities	$	376,018	$	—	$	—	$	—	$	376,018
Foreign Government Obligations		3,264,527		—		—		—		3,264,527
Total Securities Lending Transactions	$	3,640,545	$	—	$	—	$	—	$	3,640,545
Total Borrowings	$	3,640,545	$	—	$	—	$	—	$	3,640,545
Inflation-Protected Securities
Securities Lending Transactions
Corporate Debt Securities	$	814,608	$	—	$	—	$	—	$	814,608
Total Borrowings	$	814,608	$	—	$	—	$	—	$	814,608
Intermediate Bond
Securities Lending Transactions
Corporate Debt Securities	$	7,790,790	$	—	$	—	$	—	$	7,790,790
Short-Term U.S. Government Obligations		207,695		—		—		—		207,695
Total Securities Lending Transactions	$	7,998,485	$	—	$	—	$	—	$	7,998,485
Total Borrowings	$	7,998,485	$	—	$	—	$	—	$	7,998,485
International Equity
Securities Lending Transactions
Common Stocks	$	18,520,980	$	—	$	—	$	—	$	18,520,980
Total Borrowings	$	18,520,980	$	—	$	—	$	—	$	18,520,980
International Growth
Securities Lending Transactions
Common Stocks	$	4,100,599	$	—	$	—	$	—	$	4,100,599
Total Borrowings	$	4,100,599	$	—	$	—	$	—	$	4,100,599
International Small Cap Value
Securities Lending Transactions
Common Stocks	$	9,652,171	$	—	$	—	$	—	$	9,652,171
Total Borrowings	$	9,652,171	$	—	$	—	$	—	$	9,652,171
International Stock
Securities Lending Transactions
Common Stocks	$	598,495	$	—	$	—	$	—	$	598,495
Total Borrowings	$	598,495	$	—	$	—	$	—	$	598,495
International Value
Securities Lending Transactions
Common Stocks	$	453,531	$	—	$	—	$	—	$	453,531
Total Borrowings	$	453,531	$	—	$	—	$	—	$	453,531
Large Cap Value
Securities Lending Transactions
Common Stocks	$	25,671,812	$	—	$	—	$	—	$	25,671,812
Total Borrowings	$	25,671,812	$	—	$	—	$	—	$	25,671,812
Large Core
Securities Lending Transactions
Common Stocks	$	352,927	$	—	$	—	$	—	$	352,927
Total Borrowings	$	352,927	$	—	$	—	$	—	$	352,927
Large Growth
Securities Lending Transactions
Common Stocks	$	76,946,212	$	—	$	—	$	—	$	76,946,212
Total Borrowings	$	76,946,212	$	—	$	—	$	—	$	76,946,212
Large Value Opportunities
Securities Lending Transactions
Common Stocks	$	34,604	$	—	$	—	$	—	$	34,604
Exchange-Traded Funds		9,219,273		—		—		—		9,219,273
Total Securities Lending Transactions	$	9,253,877	$	—	$	—	$	—	$	9,253,877
Total Borrowings	$	9,253,877	$	—	$	—	$	—	$	9,253,877

Transamerica Funds Page    11

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Mid Cap Growth
Securities Lending Transactions
Common Stocks	$	15,116,003	$	—	$	—	$	—	$	15,116,003
Total Borrowings	$	15,116,003	$	—	$	—	$	—	$	15,116,003
Mid Cap Value
Securities Lending Transactions
Common Stocks	$	1,944,712	$	—	$	—	$	—	$	1,944,712
Total Borrowings	$	1,944,712	$	—	$	—	$	—	$	1,944,712
Mid Cap Value Opportunities
Securities Lending Transactions
Common Stocks	$	1,118,684	$	—	$	—	$	—	$	1,118,684
Total Borrowings	$	1,118,684	$	—	$	—	$	—	$	1,118,684
MLP & Energy Income
Securities Lending Transactions
Common Stocks	$	5,322,063	$	—	$	—	$	—	$	5,322,063
Total Borrowings	$	5,322,063	$	—	$	—	$	—	$	5,322,063
Multi-Asset Income
Securities Lending Transactions
Common Stocks	$	3,817,146	$	—	$	—	$	—	$	3,817,146
Preferred Stocks		504,735		—		—		—		504,735
Corporate Debt Securities		6,971,062		—		—		—		6,971,062
Total Securities Lending Transactions	$	11,292,943	$	—	$	—	$	—	$	11,292,943
Total Borrowings	$	11,292,943	$	—	$	—	$	—	$	11,292,943
Multi-Managed Balanced
Securities Lending Transactions
Common Stocks	$	1,490,837	$	—	$	—	$	—	$	1,490,837
Corporate Debt Securities		584,258		—		—		—		584,258
Total Securities Lending Transactions	$	2,075,095	$	—	$	—	$	—	$	2,075,095
Total Borrowings	$	2,075,095	$	—	$	—	$	—	$	2,075,095
Short-Term Bond
Securities Lending Transactions
Corporate Debt Securities	$	16,678,833	$	—	$	—	$	—	$	16,678,833
Total Borrowings	$	16,678,833	$	—	$	—	$	—	$	16,678,833
Small Cap Core
Securities Lending Transactions
Common Stocks	$	773,473	$	—	$	—	$	—	$	773,473
Total Borrowings	$	773,473	$	—	$	—	$	—	$	773,473
Small Cap Growth
Securities Lending Transactions
Common Stocks	$	10,929,487	$	—	$	—	$	—	$	10,929,487
Total Borrowings	$	10,929,487	$	—	$	—	$	—	$	10,929,487
Small Cap Value
Securities Lending Transactions
Common Stocks	$	8,045,333	$	—	$	—	$	—	$	8,045,333
Total Borrowings	$	8,045,333	$	—	$	—	$	—	$	8,045,333
Small/Mid Cap Value
Securities Lending Transactions
Common Stocks	$	14,662,712	$	—	$	—	$	—	$	14,662,712
Total Borrowings	$	14,662,712	$	—	$	—	$	—	$	14,662,712

Transamerica Funds Page    12

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

6. BORROWINGS AND OTHER FINANCING TRANSACTIONS (continued)

	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Less Than 30 Days		Between 30 & 90 Days		Greater Than 90 Days		Total
Total Return
Securities Lending Transactions
Corporate Debt Securities	$	7,182,272	$	—	$	—	$	—	$	7,182,272
U.S. Government Obligations		179,748		—		—		—		179,748
Total Securities Lending Transactions	$	7,362,020	$	—	$	—	$	—	$	7,362,020
Reverse Repurchase Agreements
U.S. Government Obligations	$	—	$	123,099,868	$	21,031,996	$	—	$	144,131,864
Cash		1,622,000		—		—		—		1,622,000
Total Reverse Repurchase Agreements	$	1,622,000	$	123,099,868	$	21,031,996	$	—	$	145,753,864
Total Borrowings	$	8,984,020	$	123,099,868	$	21,031,996	$	—	$	153,115,884
Unconstrained Bond
Securities Lending Transactions
Asset-Backed Securities	$	268,286	$	—	$	—	$	—	$	268,286
Corporate Debt Securities		12,382,094		—		—		—		12,382,094
U.S. Government Obligations		1,111,873		—		—		—		1,111,873
Preferred Stocks		700,665		—		—		—		700,665
Total Securities Lending Transactions	$	14,462,918	$	—	$	—	$	—	$	14,462,918
Total Borrowings	$	14,462,918	$	—	$	—	$	—	$	14,462,918

7. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS

The Funds’ investment objectives allow the Funds to use various types of derivative contracts, including option contracts, swap agreements, futures contracts, and forward foreign currency contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or OTC.

Market Risk Factors: In pursuit of the Funds’ investment objectives, the Funds may seek to use derivatives to increase or decrease their exposure to certain market risks, including:

Interest rate risk: Interest rate risk relates to the fluctuations in the value of fixed income securities due to changes in the prevailing levels of market interest rates.

Foreign exchange rate risk: Foreign exchange rate risk relates to fluctuations in the value of an asset or liability due to changes in the currency exchange rates.

Equity risk: Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market.

Credit risk: Credit risk relates to the ability of the issuer of a financial instrument to make further principal or interest payments on an obligation or commitment that it has to the Funds.

Commodity risk: Commodity risk relates to the change in value of commodities or commodity indices as they relate to increases or decreases in the commodities market. Commodities are physical assets that have tangible properties. Examples of these types of assets are crude oil, heating oil, metals, livestock, and agricultural products.

The Funds are also exposed to additional risks from investing in derivatives, such as liquidity and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to sell or close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligations to the Funds. Investing in derivatives may also involve greater risks than investing directly in the underlying assets, such as losses in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

The Funds’ exposure to market risk factors and certain other associated risks are summarized by derivative type as follows:

Option contracts: The Funds are subject to equity risk, interest rate risk, and foreign exchange rate risk in the normal course of pursuing their investment objectives. The Funds, with the exception of High Yield Bond, may enter into option contracts to manage exposure to various market fluctuations. The Funds may purchase or write call and put options on securities and derivative instruments in which each Fund owns or may invest. Options are valued at the average of the bid and ask price established each day at the close of the board of trade or exchange on which they are traded. Options are marked-to-market daily to reflect the current value of the option. The primary risks associated with options are an imperfect correlation between the change in value of the securities held and the prices of the option contracts, the possibility of an illiquid market, and an inability of the counterparty to meet the contract terms. Options can be traded through an exchange or through privately negotiated arrangements with a dealer in an OTC transaction. Options traded on an exchange are generally cleared through a clearinghouse such as the Options Clearing Corp.

Options on exchange-traded funds and/or securities: The Funds may purchase or write options on ETFs and/or securities. Purchasing or writing options on ETFs and/or securities gives the Funds the right, but not the obligation to buy or sell a specified ETF and/or security as an underlying instrument for the option contract.

Options on foreign currency: The Funds may purchase or write foreign currency options. Purchasing or writing options on foreign currency gives the Funds the right, but not the obligation to buy or sell the currency and will specify the amount of currency and a rate of exchange that may be exercised by a specified date.

Transamerica Funds Page    13

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

7. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS (continued)

Options on indices: The Funds may purchase or write options on indices. Purchasing or writing an option on indices gives the Funds the right, but not the obligation to buy or sell the cash from the underlying index. The exercise of the option will result in a cash transfer and gain or loss depends on the change in the underlying index.

Options on futures: The Funds may purchase or write options on futures. Purchasing or writing options on futures gives the Funds the right, but not obligation to buy or sell a position on a futures contract at the specified option exercise price at any time during the period of the option.

Credit default swaptions: The Funds may purchase or write credit default swaption agreements which are options to enter into a pre-defined swap agreement by some specific date in the future. Purchasing or writing credit default swaptions gives the Funds the right, but not the obligation to buy or sell credit protection on a specific reference with a specific maturity.

Interest rate swaptions: The Funds may purchase or write interest rate swaption agreements which are options to enter into a pre-defined swap agreement by some specific date in the future. The writer of the swaption becomes the counterparty to the swap if the buyer exercises. The interest rate swaption agreement will specify whether the buyer of the swaption will be a fixed-rate receiver or a fixed-rate payer upon exercise.

Purchased options: Purchasing call options tends to increase exposure to the underlying instrument. Purchasing put options tends to decrease exposure to the underlying instrument. The Funds pay premiums, which are treated as an investment and subsequently marked-to-market to reflect the current value of the option. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid from options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying instrument to determine the realized gain or loss.

Written options: Writing call options tends to decrease exposure to the underlying instrument. Writing put options tends to increase exposure to the underlying instrument. When the Funds write a covered call or put option, the premium received is marked-to-market to reflect the current market value of the option written. Premiums received from written options which expire unexercised are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying instrument to determine the realized gain or loss. In writing an option, the Funds bear the market risk of an unfavorable change in the price of the security or currency underlying the written option. Exercise of an option written by the Funds could result in the Funds selling or buying a security or currency at a price different from the current market value.

Open option contracts at January 31, 2020, if any, are included within the Schedule of Investments or Consolidated Schedule of Investments.

Swap agreements: Swap agreements are bilaterally negotiated agreements between the Funds and a counterparty to exchange or swap investments, cash flows, assets, foreign currencies, or market-linked returns at specified, future intervals. Swap agreements can be executed in a bilateral privately negotiated arrangement with a dealer in an OTC transaction or executed on a regular market. Certain swaps regardless of the venue of execution are required to be cleared through a clearinghouse (“centrally cleared swap agreements”). Centrally cleared swap agreements listed or traded on a multilateral platform, are valued at the daily settlement price determined by the corresponding exchange. For centrally cleared credit default swap agreements the clearing exchange requires all members to provide applicable levels across complete term levels. Centrally cleared interest rate swap agreements are valued using a pricing model that references the underlying rates including but not limited to the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to calculate the daily settlement price. The Funds may enter into credit default, cross-currency, interest rate, total return, including contracts for difference (“CFD”), and other forms of swap agreements to manage exposure to credit, currency, interest rate, and commodity risks. In connection with these agreements, securities or cash may be identified as collateral or margin in accordance with the terms of the respective swap agreements to provide assets of value and recourse in the event of default or bankruptcy/insolvency. Centrally cleared swap agreements are marked-to-market daily based upon values from third party vendors, which may include a registered exchange, or quotations from market makers to the extent available.

Credit default swap agreements: The Funds are subject to credit risk in the normal course of pursuing their investment objectives. The Funds enter into credit default swap agreements to manage their exposure to the market or certain sectors of the market to reduce their risk exposure to defaults of corporate and sovereign issuers, or to create exposure to corporate or sovereign issuers to which they are not otherwise exposed. Credit default swap agreements involve the exchange of a fixed rate premium for protection against the loss in value of an underlying security in the event of a defined credit event, such as payment default or bankruptcy (buy protection).

Under a credit default swap agreement, one party acts as a guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying security at par if the defined credit event occurs (sell protection). The Funds’ maximum risk of loss from counterparty risk, either as the protection seller or as the protection buyer, is the notional amount of the contract. This risk is mitigated by having a master netting arrangement between the Funds and the counterparty, and by the posting of collateral.

Certain Funds sell credit default swap agreements, which exposes them to risk of loss from credit risk related events specified in the contracts. Although contract-specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default, or repudiation/moratorium. If a defined credit event had occurred during the period, the swap agreements’ credit-risk-related contingent features would have been triggered, and the Funds would have been required to pay the notional amounts for the credit default swap agreements with a sell protection less the value of the contracts’ related reference obligations.

Transamerica Funds Page    14

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

7. RISK EXPOSURES AND THE USE OF DERIVATIVE INSTRUMENTS (continued)

Interest rate swap agreements: The Funds are subject to interest rate risk exposure in the normal course of pursuing their investment objectives. Because the Funds hold fixed rate bonds, the value of these bonds may decrease if interest rates rise. To help hedge against this risk, the Funds enter into interest rate swap agreements. Under an interest rate swap agreement, two parties will exchange cash flows based on a notional principal amount. Funds with interest rate agreements can elect to pay a fixed rate and receive a floating rate, or receive a fixed rate and pay a floating rate, on a notional principal amount. The risks of interest rate swap agreements include changes in market conditions which will affect the value of the contract or the cash flows, and the possible inability of the counterparty to fulfill its obligations under the agreement. The Funds’ maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from/paid to the counterparties over the contracts’ remaining lives, to the extent that amount is positive. This risk is mitigated by having a master netting arrangement between the Funds and the counterparty, and by the posting of collateral.

Total return swap agreements: The Funds are subject to commodity risk, equity risk, and other risks related to the underlying investments of the swap agreement, including CFDs, in the normal course of pursuing their investment objectives. The value of the commodity-linked investments held by the Funds can be affected by a variety of factors, including, but not limited to, overall market movements and other factors affecting the value of particular industries or commodities, such as weather, disease, embargoes, acts of war or terrorism, or political and regulatory developments. Commodity-linked derivatives are available from a relatively small number of issuers, subjecting a Fund’s investments in commodity-linked derivatives to counterparty risk, which is the risk that the issuer of the commodity-linked derivative will not fulfill its contractual obligations. Total return swap agreements on commodities involve commitments whereby cash flows are exchanged based on the price of a commodity in exchange for either a fixed or floating price or rate. One party would receive payments based on the market value of the commodity involved and pay a fixed amount. Total return swap agreements on indices involve commitments to pay interest in exchange for a market-linked return. One counterparty pays out the total return of a specific reference entity, which may be an equity, index, or bond, and in return receives a regular stream of payments.

Open centrally cleared swap agreements and open OTC swap agreements at January 31, 2020, if any, are listed within the Schedule of Investments or Consolidated Schedule of Investments.

Futures contracts: The Funds are subject to equity and commodity risk, interest rate risk, and foreign exchange rate risk in the normal course of pursuing their investment objectives. The Funds use futures contracts to gain exposure to, or hedge against, changes in the value of equities and commodities, interest rates, or foreign currencies. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. Upon entering into such contracts, the Funds are required to deposit with the broker, either in cash or in securities, an initial margin in an amount equal to a certain percentage of the contract amount. Subsequent payments (variation margin) are paid or received by the Funds, depending on the daily fluctuations in the value of the contract, and are recorded for financial statement purposes as unrealized gains or losses by the Funds. Upon entering into such contracts, the Funds bear the risk of equity and commodity prices, interest rates, or exchange rates moving unexpectedly, in which case, the Funds may not achieve the anticipated benefits of the futures contracts and may realize losses. With futures, there is minimal counterparty credit risk to the Funds since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. Futures contracts are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange.

Open futures contracts at January 31, 2020, if any, are listed within the Schedule of Investments or Consolidated Schedule of Investments.

Forward foreign currency contracts: The Funds are subject to foreign exchange rate risk exposure in the normal course of pursuing their investment objectives. The Funds may enter into forward foreign currency contracts to hedge against exchange rate risk arising from investments in securities denominated in foreign currencies. Additionally, Bond and Managed Futures Strategy utilize forward foreign currency contracts for speculative purposes. Forward foreign currency contracts are marked-to-market daily, with the change in value recorded as an unrealized gain or loss. When the contracts are settled, a realized gain or loss is incurred. Risks may arise from changes in market value of the underlying currencies and from the possible inability of counterparties to meet the terms of their contracts. Forward foreign currency contracts are traded in the OTC inter-bank currency dealer market.

Open forward foreign currency contracts at January 31, 2020, if any, are listed within the Schedule of Investments or Consolidated Schedule of Investments.

8. RISK FACTORS

Investing in the Funds involves certain key risks related to the Funds’ trading activity. Please reference the Funds’ prospectuses for a more complete discussion of the following risk(s), as well as other risks of investing in the Funds.

Arbitrage strategy risk: Securities purchased pursuant to an arbitrage strategy intended to take advantage of a perceived relationship between the values of two or more securities and may not perform as expected.

Emerging market risk: Investments in the securities of issuers located in or principally doing business in emerging markets are subject to heightened foreign investments risks. Emerging market countries tend to have economic, political and legal systems and regulatory and accounting standards that are less fully developed, and that can be expected to be less stable. For example, the economies of such countries can be subject to rapid and unpredictable rates of inflation or deflation. Emerging market securities are often particularly sensitive to market movements because their market prices tend to reflect speculative expectations. Low trading volumes may result in a lack of liquidity and in extreme price volatility. A Fund may be required to establish special custody or other arrangements before investing in emerging market countries. An investment in emerging market securities should be considered speculative.

Transamerica Funds Page    15

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

8. RISK FACTORS (continued)

Fixed income risk: The value of fixed income securities may go up or down, sometimes rapidly and unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. In addition, the value of a fixed income security may decline if the issuer or other obligor of the security fails to pay principal and/or interest, otherwise defaults or has its credit rating downgraded or is perceived to be less creditworthy, or the credit quality or value of any underlying assets declines. If the value of fixed-income securities owned by a Fund fall, the value of your investment will go down. The value of your investment will generally go down when interest rates rise. Interest rates have been at historically low levels in the U.S., so a Fund faces a heightened risk that interest rates may rise. A general rise in interest rates may cause investors to move out of fixed-income securities on a large scale, which could adversely affect the price and liquidity of fixed-income securities. A rise in rates tends to have a greater impact on the prices of longer term or duration securities.

Foreign investment risk: Investing in securities of foreign issuers or issuers with significant exposure to foreign markets involves additional risk. Foreign countries in which a Fund may invest may have markets that are less liquid, less regulated, less transparent and more volatile than U.S. markets. The value of a Fund’s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable or unsuccessful government actions, reduction of government or central bank support, political or financial instability or other adverse economic or political developments. Lack of information and weaker accounting standards also may affect the value of these securities.

Growth risk: Returns on growth stocks may not move in tandem with returns on other categories of stocks or the market as a whole. Growth stocks typically are particularly sensitive to market movements because their market prices tend to reflect future expectations. When it appears those expectations may not be met, the prices of growth securities typically fall. Growth stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “value” stocks.

High-yield debt risk: High-yield debt securities, commonly referred to as “junk” bonds, are securities that are rated below “investment grade” or, if unrated, determined to be below investment grade by the sub-adviser. Changes in interest rates, the market’s perception of the issuers, the creditworthiness of the issuers and negative perceptions of the junk bond market generally may significantly affect the value of these bonds. Junk bonds are considered speculative, have a higher risk of default, tend to be less liquid and may be more difficult to value than higher grade securities. Junk bonds tend to be volatile and more susceptible to adverse events, credit downgrades and negative sentiments.

Inflation-protected security risk: Inflation-protected debt securities may react differently from other types of debt securities and tend to react to changes in “real” interest rates. Real interest rates represent nominal (stated) interest rates reduced by the expected impact of inflation. In general, the price of an inflation-protected debt security can fall when real interest rates rise, and can rise when real interest rates fall. Interest payments on inflation-protected debt securities can be unpredictable and will vary as the principal and/or interest is adjusted for inflation. Also, the inflation index utilized by a particular inflation-protected security may not accurately reflect the true rate of inflation, in which case the market value of the security could be adversely affected.

LIBOR Risk: Many financial instruments, financings or other transactions to which a Fund may be a party use or may use a floating rate based on the London Interbank Offered Rate (“LIBOR”). LIBOR is widely used in financial markets. In July 2017, the United Kingdom’s financial regulatory body announced that after 2021 it will cease its active encouragement of banks to provide the quotations needed to sustain LIBOR. That announcement suggests that LIBOR may cease to be published or utilized after that time. Various financial industry groups have begun planning for that transition, but the effect of the transition process and its ultimate success cannot yet be determined. The transition process may lead to increased volatility and illiquidity in markets for instruments the terms of which are based on LIBOR. It could also lead to a reduction in the value of some LIBOR-based investments and reduce the effectiveness of new hedges placed against existing LIBOR-based investments. Since the usefulness of LIBOR as a benchmark could deteriorate during the transition period, these effects could occur prior to the end of 2021. The willingness and ability of issuers to include enhanced provisions in new and existing contracts or instruments also remains uncertain. Any of these factors may adversely affect the Fund’s performance or NAV.

Master limited partnership (“MLP”) risk: Investments in MLPs involve risks that differ from investments in corporate issuers, including risks related to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between the MLP and the MLP’s general partner, cash flow risks, dilution risks, certain tax risks, and risks related to the general partner’s right to require unit holders to sell their common units at an undesirable time or price. MLP entities are typically focused in the energy, natural resources and real estate sectors of the economy. A downturn in the energy, natural resources or real estate sectors of the economy could have an adverse impact on a Fund. At times, the performance of securities of companies in the energy, natural resources and real estate sectors of the economy may lag the performance of other sectors or the broader market as a whole. The yields for equity and debt securities of MLPs and other issuers in the energy sector are susceptible in the short-term to fluctuations in interest rates and the value of a Fund’s investments in such securities may decline if interest rates rise. The value of a Fund’s investment in MLPs depends to a significant extent on the MLPs being treated as partnerships for U.S. federal income tax purposes. If an MLP does not meet the legal requirements to maintain partnership status, it could be taxed as a corporation and there could be a material decrease in the value of its securities.

Mortgage-related and asset-backed security risk: The value of mortgage-related and asset-backed securities will be influenced by factors affecting the housing market and the assets underlying such securities. As a result, during periods of declining asset values, difficult or frozen credit markets, swings in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. Mortgage-backed securities may be issued by private issuers, by government-sponsored entities such as Fannie Mae or Freddie Mac or by agencies of the U.S. government, such as Ginnie Mae. Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by real property. Unlike mortgage-related securities issued or guaranteed by agencies of the U.S. government or government-sponsored entities, mortgage-related securities issued by private issuers do not have a government or government-sponsored entity guarantee (but may have other credit enhancement), and may, and frequently do, have less favorable collateral, credit risk or other underwriting characteristics. Asset-backed securities represent participations in, or are secured by and payable from, assets such as installment sales or loan contracts, leases, credit card receivables and other categories of receivables. The value of mortgage-backed and asset-backed securities may be affected by changes in credit quality or value of the mortgage loans or other assets that support the securities. Mortgage-backed and asset-backed securities are subject to prepayment or call and extension risks. Some of these securities may receive little or no collateral protection from the underlying assets. The risk of default is generally higher in the case of mortgage-backed investments that include so-called “sub-prime” mortgages. The structure of some of these securities may be complex and there may be less information available than for other types of debt securities. Upon the occurrence of certain triggering events or defaults, a fund or portfolio may become the holder of underlying assets at a time when those assets may be difficult to sell or may be sold only at a loss.

Transamerica Funds Page    16

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

8. RISK FACTORS (continued)

Municipal security risk: The municipal bond market can be susceptible to unusual volatility, particularly for lower-rated and unrated securities. Liquidity can be reduced unpredictably in response to overall economic conditions or credit tightening. Municipal issuers may be adversely affected by rising health care costs, increasing unfunded pension liabilities, and by the phasing out of federal programs providing financial support. Unfavorable conditions and developments relating to projects financed with municipal securities can result in lower revenues to issuers of municipal securities, potentially resulting in defaults. Issuers often depend on revenues from these projects to make principal and interest payments. The value of municipal securities can also be adversely affected by changes in the financial condition of one or more individual municipal issuers or insurers of municipal issuers, regulatory and political developments, tax law changes or other legislative actions, and by uncertainties and public perceptions concerning these and other factors. To the extent a fund invests significantly in a single state or in securities the payments on which are dependent upon a single project or source of revenues, or that relate to a sector or industry, a fund will be more susceptible to associated risks and developments. Municipal issuers may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. In recent periods an increasing number of municipal issuers have defaulted on obligations, commenced insolvency proceedings, or suffered credit downgrading. Financial difficulties of municipal issuers may continue or worsen.

A fund may invest in municipal securities of issuers in Guam, Puerto Rico, the U.S. Virgin Islands, or other U.S. territories, which are exempt from federal, state, and, where applicable, local income taxes. These municipal securities may have more risks than tax-exempt securities issued by other issuers due to the political, social and/or economic conditions in the particular territory. To the extent a fund holds any municipal securities of issuers in Guam, Puerto Rico, the U.S. Virgin Islands, or other U.S. territories, a fund may lose some or all of the value of those investments.

Real estate investment trusts (“REIT”) and real estate risk: Investing in real estate investment trusts “REITs” involves unique risks. When a Fund invests in REITs, it is subject to risks generally associated with investing in real estate. A REIT’s performance depends on the types and locations of the properties it owns, how well it manages those properties and cash flow. REITs may have lower trading volumes and may be subject to more abrupt or erratic price movements than the overall securities markets. In addition to its own expenses, a Fund will indirectly bear its proportionate share of any management and other expenses paid by REITs in which it invests. U.S. REITs are subject to a number of highly technical tax-related rules and requirements; and a U.S. REIT’s failure to qualify for the favorable U.S. federal income tax treatment generally available to U.S. REITs could result in corporate-level taxation, significantly reducing the return on an investment to a Fund.

Small and medium capitalization risk: Small or medium capitalization companies may be more at risk than larger capitalization companies because, among other things, they may have limited product lines, operating history, market or financial resources, or because they may depend on a limited management group. The prices of securities of small and medium capitalization companies generally are more volatile than those of larger capitalization companies and are more likely to be adversely affected than large capitalization companies by changes in earnings results and investor expectations or poor economic or market conditions. Securities of small and medium capitalization companies may underperform large capitalization companies, may be harder to sell at times and at prices the portfolio managers believe appropriate and may offer greater potential for losses.

9. CHANGE IN ACCOUNTING PRINCIPLE

The Funds have adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update 2017-08 “Premium Amortization of Callable Debt Securities” (“ASU 2017-08”), which amends the amortization period for certain purchased callable debt securities held at a premium. Under the new standard, the Funds have changed the amortization period for the premium on certain purchased callable debt securities with explicit non-contingent call features to the earliest call date.

It is impracticable to evaluate the effect on individual prior periods, therefore the Funds applied the amendments on a modified retrospective basis by recognizing a cumulative effect adjustment that decreased the beginning of period cost of investments and increased the unrealized appreciation on investments. This change in accounting policy has been made to comply with the newly issued accounting standard and had no impact on total accumulated earnings (loss) or the net asset value of the Funds’ financial statements.

The beginning of period cost of investments, and unrealized appreciation on investments were adjusted as follows. Funds not listed in the subsequent table were not impacted by ASU 2017-08.

Fund	Adjustment
Balanced II	$	15,122
Bond		388,617
Core Bond		11,416
Emerging Markets Debt		4,037
Floating Rate		52,267
High Quality Bond		38,024
High Yield Bond		1,725,985
High Yield Muni		291,953
Inflation Opportunities		3,105
Inflation-Protected Securities		107
Intermediate Bond		1,236,952
Intermediate Muni		7,221,147
Multi-Asset Income		122,776
Multi-Managed Balanced		212,462
Short-Term Bond		200,373
Total Return		79,214
Unconstrained Bond		131,489

Transamerica Funds Page    17

NOTES TO SCHEDULES OF INVESTMENTS (continued)

At January 31, 2020

(unaudited)

10. NEW ACCOUNTING PRONOUNCEMENT

In August 2018, FASB issued Accounting Standards Update No. 2018-13 (“ASU 2018-13”), “Fair Value Measurement (Topic 820: Disclosure Framework), Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the timing of transfers between levels of the fair value hierarchy and the valuation processes for Level 3 fair value measurements. ASU 2018-13 does not eliminate the requirement to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements, or the reporting of changes in unrealized gains and losses for recurring Level 3 fair value measurements. ASU 2018-13 requires that information is provided about the measurement uncertainty of Level 3 fair value measurements as of the reporting date. The amendment is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Management has evaluated and has early adopted the disclosure requirements and the impact is reflected within the Funds’ financial statements.

11. SUBSEQUENT EVENTS

The Board has approved the liquidation of International Value and will be effective on or about February 21, 2020.

The Board has approved the liquidation of Global Multi-Factor Macro and Managed Futures Strategy. These liquidations will be effective on or about February 28, 2020.

Transamerica Funds Page    18