Studio City Finance Ltd

FOR VALIDATION PURPOSES ONLY - [302826.I3CN]

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS

At January 31, 2022

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES - 36.6%
Argentina - 0.8%
Pampa Energia SA
7.50%, 01/24/2027^(A)		$ 2,340,000		$ 1,992,510
YPF SA
2.50%^(B), 06/30/2029^(C)		1,670,000		1,006,643

				2,999,153

Austria - 0.2%
Suzano Austria GmbH
3.13%, 01/15/2032		905,000		837,397

Bermuda - 0.6%
Digicel Group Holdings Ltd.
PIK Rate 2.00%, Cash Rate 8.00%, 04/01/2024 ^(D)		2,194,150		2,199,635

Brazil - 1.1%
Banco Bradesco SA
4.38%, 03/18/2027^(A)		1,490,000		1,525,909
Banco do Brasil SA
Fixed until 06/18/2024^(E), 9.00%^(C) ^(F)		1,150,000		1,230,500
Oi SA
PIK Rate 4.00%, Cash Rate 8.00%, 07/27/2025 ^(D)		1,990,000		1,651,720

				4,408,129

Canada - 0.5%
First Quantum Minerals Ltd.
6.88%, 10/15/2027^(A)		1,735,000		1,843,437

Cayman Islands - 2.7%
CIFI Holdings Group Co. Ltd.
4.45%, 08/17/2026^(C)		900,000		756,000
IHS Holding Ltd.
6.25%, 11/29/2028^(A)		975,000		982,312
Kaisa Group Holdings Ltd.
9.38%, 06/30/2024^(C)		2,120,000		567,100
11.25%, 04/16/2025^(C)		350,000		93,625
Lima Metro Line 2 Finance Ltd.
4.35%, 04/05/2036^(A)		1,735,018		1,803,847
Powerlong Real Estate Holdings Ltd.
5.95%, 04/30/2025^{(C) (G)}		900,000		667,530
6.25%, 08/10/2024^(C)		400,000		310,000
SA Global Sukuk Ltd.
2.69%, 06/17/2031^(A)		2,750,000		2,718,100
Vale Overseas Ltd.
3.75%, 07/08/2030		2,930,000		2,971,020

				10,869,534

Chile - 2.0%
Agrosuper SA
4.60%, 01/20/2032^(A)		1,405,000		1,424,178
Alfa Desarrollo SpA
4.55%, 09/27/2051^(A)		1,800,000		1,648,476
Cia Cervecerias Unidas SA
3.35%, 01/19/2032^(A)		1,100,000		1,094,500
Interchile SA
4.50%, 06/30/2056^(A)		860,000		881,509


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Chile (continued)
Sociedad de Transmision Austral SA
4.00%, 01/27/2032^(A)		$ 1,490,000		$ 1,472,343
Telefonica Moviles Chile SA
3.54%, 11/18/2031^(A)		1,610,000		1,545,600

				8,066,606

Colombia - 0.8%
Ecopetrol SA
4.63%, 11/02/2031		500,000		460,650
5.88%, 05/28/2045		910,000		802,301
Empresas Publicas de Medellin ESP
4.38%, 02/15/2031^(A)		980,000		890,585
Interconexion Electrica SA ESP
3.83%, 11/26/2033^(A)		1,235,000		1,238,088

				3,391,624

Guatemala - 0.3%
CT Trust
5.13%, 02/03/2032^(A)		1,070,000		1,088,971

India - 1.0%
Muthoot Finance Ltd.
4.40%, 09/02/2023^{(A) (G)}		840,000		844,368
6.13%, 10/31/2022^(A)		1,500,000		1,518,021
Reliance Industries Ltd.
3.63%, 01/12/2052^(A)		1,830,000		1,729,895

				4,092,284

Indonesia - 1.3%
Indofood CBP Sukses Makmur Tbk PT
4.75%, 06/09/2051^(C)		3,000,000		2,861,609
Pertamina Persero PT
5.63%, 05/20/2043^{(A) (G)}		2,250,000		2,478,615

				5,340,224

Ireland - 0.4%
Lukoil Capital DAC
3.60%, 10/26/2031^(A)		840,000		762,930
3.60%, 10/26/2031^(C)		200,000		181,650
Sovcombank Via SovCom Capital DAC
Fixed until 02/17/2027^(E), 7.60%^(A) ^(F)		795,000		714,626

				1,659,206

Israel - 0.9%
Energean Israel Finance Ltd.
4.88%, 03/30/2026^(C)		700,000		686,875
5.88%, 03/30/2031^(C)		1,100,000		1,065,680
Leviathan Bond Ltd.
6.75%, 06/30/2030^(C)		1,890,000		2,015,212

				3,767,767

Jersey, Channel Islands - 1.0%
Galaxy Pipeline Assets Bidco Ltd.
1.75%, 09/30/2027^(A)		1,923,047		1,894,049
2.16%, 03/31/2034^(C)		1,740,000		1,668,046
2.16%, 03/31/2034^(A)		335,000		321,147

				3,883,242


Transamerica Funds			Page 1

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Kazakhstan - 0.7%
Fund of National Welfare Samruk-Kazyna JSC
2.00%, 10/28/2026^(A)		$ 1,110,000		$ 1,065,660
KazMunayGas National Co. JSC
6.38%, 10/24/2048^(C)		1,480,000		1,790,457

				2,856,117

Luxembourg - 3.1%
CSN Resources SA
4.63%, 06/10/2031^(A)		1,760,000		1,661,457
EIG Pearl Holdings SARL
3.55%, 08/31/2036^(A)		1,130,000		1,126,703
4.39%, 11/30/2046^(A)		1,340,000		1,333,595
Guara Norte SARL
5.20%, 06/15/2034^(A)		988,326		922,859
JBS Finance Luxembourg SARL
3.63%, 01/15/2032^(A)		1,160,000		1,105,689
Kenbourne Invest SA
6.88%, 11/26/2024^(A)		1,330,000		1,375,360
MC Brazil Downstream Trading SARL
7.25%, 06/30/2031^(A)		1,400,000		1,337,014
Movida Europe SA
5.25%, 02/08/2031^{(A) (G)}		2,400,000		2,106,024
Rumo Luxembourg SARL
4.20%, 01/18/2032^(A)		1,700,000		1,555,500

				12,524,201

Mexico - 5.9%
Banco Mercantil del Norte SA
Fixed until 01/24/2032^(E), 6.63%^(A) ^(F)		2,120,000		2,048,556
BBVA Bancomer SA
Fixed until 01/18/2028, 5.13%^(F), 01/18/2033 ^(A)		1,000,000		1,005,090
Braskem Idesa SAPI
6.99%, 02/20/2032^(A)		1,120,000		1,111,600
CIBANCO SA Institucion de Banca Multiple Trust
4.38%, 07/22/2031^(A)		1,400,000		1,309,014
Corp. Inmobiliaria Vesta SAB de CV
3.63%, 05/13/2031^(A)		980,000		952,423
Grupo Bimbo SAB de CV
Fixed until 04/17/2023^(E), 5.95%^(A) ^(F)		1,200,000		1,238,400
Infraestructura Energetica Nova SAB de CV
4.75%, 01/15/2051^(A)		1,980,000		1,905,770
Petroleos Mexicanos
6.70%, 02/16/2032^(A)		7,237,000		7,159,853
7.19%, 09/12/2024^(C)		MXN 51,000,000		2,351,570
7.69%, 01/23/2050		$ 3,660,000		3,388,538
Total Play Telecomunicaciones SA de CV
6.38%, 09/20/2028^(A)		1,320,000		1,230,900

				23,701,714

Morocco - 0.3%
OCP SA
5.13%, 06/23/2051^(A)		1,445,000		1,307,725

Multi-National - 0.3%
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc.
5.50%, 01/15/2030^(A)		1,060,000		1,124,236


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Netherlands - 2.7%
Braskem Finance BV
5.88%, 01/31/2050^{(A) (G)}		$ 2,100,000		$ 2,278,500
IHS Netherlands Holdco BV
8.00%, 09/18/2027^(A)		1,375,000		1,440,312
Mong Duong Finance Holdings BV
5.13%, 05/07/2029^(A)		2,445,000		2,252,334
MV24 Capital BV
6.75%, 06/01/2034^(A)		541,842		540,493
Prosus NV
3.83%, 02/08/2051^(A)		1,845,000		1,550,957
4.99%, 01/19/2052^(A)		1,350,000		1,320,934
Teva Pharmaceutical Finance Netherlands III BV
3.15%, 10/01/2026		1,325,000		1,216,165

				10,599,695

Nigeria - 0.4%
SEPLAT Energy PLC
7.75%, 04/01/2026^(A)		1,500,000		1,496,250

Northern Mariana Islands - 0.3%
Azure Power Solar Energy Pvt Ltd.
5.65%, 12/24/2024^(A)		1,100,000		1,138,500

Oman - 0.4%
OQ SAOC
5.13%, 05/06/2028^(A)		1,580,000		1,589,701

Qatar - 1.1%
Qatar Energy
1.38%, 09/12/2026^(A)		1,310,000		1,262,277
2.25%, 07/12/2031^(A)		3,085,000		2,969,312

				4,231,589

Republic of South Africa - 0.4%
Eskom Holdings SOC Ltd.
7.50%, 09/15/2033		ZAR 34,000,000		1,672,487

Saudi Arabia - 0.9%
Saudi Arabian Oil Co.
4.25%, 04/16/2039^(A)		$ 1,585,000		1,710,215
4.25%, 04/16/2039^(C)		1,850,000		1,996,150

				3,706,365

Singapore - 0.8%
LLPL Capital Pte Ltd.
6.88%, 02/04/2039^(A)		1,255,380		1,378,734
6.88%, 02/04/2039^(C)		26,901		29,544
Medco Laurel Tree Pte Ltd.
6.95%, 11/12/2028^(A)		1,795,000		1,762,115

				3,170,393

Turkey - 0.6%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS
9.50%, 07/10/2036^(A)		690,000		673,868
QNB Finansbank AS
6.88%, 09/07/2024^{(A) (G)}		1,690,000		1,770,140

				2,444,008

United Arab Emirates - 1.1%
Abu Dhabi Crude Oil Pipeline LLC
4.60%, 11/02/2047^(C)		900,000		1,006,848


Transamerica Funds			Page 2

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
United Arab Emirates (continued)
Acwa Power Management & Investments One Ltd.
5.95%, 12/15/2039^(A)		$ 1,796,580		$ 2,063,372
Sweihan PV Power Co. PJSC
3.63%, 01/31/2049^(A)		1,400,000		1,350,093

				4,420,313

United Kingdom - 1.5%
Energean PLC
6.50%, 04/30/2027^(A)		1,130,000		1,091,863
Liquid Telecommunications Financing PLC
5.50%, 09/04/2026^(A)		750,000		756,000
Tullow Oil PLC
10.25%, 05/15/2026^(A)		2,500,000		2,525,000
Vedanta Resources Finance II PLC
8.95%, 03/11/2025^(A)		1,070,000		1,016,714
13.88%, 01/21/2024^(A)		735,000		769,912

				6,159,489

United States - 1.6%
Kosmos Energy Ltd.
7.13%, 04/04/2026^{(A) (G)}		400,000		390,000
7.75%, 05/01/2027^(A)		1,030,000		1,004,250
MercadoLibre, Inc.
3.13%, 01/14/2031		560,000		504,336
New Fortress Energy, Inc.
6.50%, 09/30/2026^(A)		600,000		561,000
Sasol Financing USA LLC
5.50%, 03/18/2031		1,940,000		1,896,350
TSMC Arizona Corp.
2.50%, 10/25/2031		2,000,000		1,973,421

				6,329,357

Venezuela - 0.1%
Petroleos de Venezuela SA
8.50%, 10/27/2020^{(C) (H) (I)}		1,945,000		282,025

Virgin Islands, British - 0.8%
Central American Bottling Corp. / CBC Bottling Holdco SL / Beliv Holdco SL
5.25%, 04/27/2029^(A)		1,010,000		1,024,584
Huarong Finance II Co. Ltd.
5.00%, 11/19/2025^(C)		910,000		928,200
Studio City Finance Ltd.
5.00%, 01/15/2029^(C)		200,000		173,836
6.50%, 01/15/2028^(C)		940,000		878,900

				3,005,520

Total Corporate Debt Securities (Cost $151,627,988)				146,206,894


FOREIGN GOVERNMENT OBLIGATIONS - 58.3%
Angola - 1.4%
Angola Government International Bond
9.50%, 11/12/2025^(C)		4,410,000		4,816,161
9.50%, 11/12/2025^(A)		600,000		655,260

				5,471,421

Argentina - 2.2%
Argentina Republic Government International Bond
0.50%^(B), 07/09/2030		8,290,000		2,797,958
1.13%^(B), 07/09/2046		15,095,000		4,770,624
2.00%^(B), 01/09/2038		3,092,183		1,171,009

				8,739,591


	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Brazil - 3.0%
Brazil Notas do Tesouro Nacional
Series F,
10.00%, 01/01/2023 - 01/01/2031		BRL 66,269,000		$ 11,809,559

Chile - 3.0%
Bonos de la Tesoreria de la Republica EN pesos
4.70%, 09/01/2030^(C)		CLP 5,575,000,000		6,685,335
5.00%, 10/01/2028^(C)		1,095,000,000		1,337,203
5.00%, 03/01/2035		985,000,000		1,175,517
Chile Government International Bond
2.55%, 07/27/2033		$ 1,400,000		1,309,700
2.75%, 01/31/2027		580,000		587,836
3.50%, 01/31/2034		400,000		408,600
4.00%, 01/31/2052		400,000		411,000

				11,915,191

China - 0.6%
China Government Bond
3.27%, 11/19/2030		CNY 15,000,000		2,446,056

Colombia - 1.1%
Colombia Government International Bond
4.50%, 03/15/2029		$ 2,230,000		2,196,149
5.20%, 05/15/2049		605,000		521,927
6.13%, 01/18/2041		1,810,000		1,767,936

				4,486,012

Cote d’Ivoire - 1.1%
Ivory Coast Government International Bond
6.13%, 06/15/2033^(A)		1,080,000		1,107,000
6.88%, 10/17/2040^(A)		EUR 3,040,000		3,436,805

				4,543,805

Dominican Republic - 0.8%
Dominican Republic International Bond
5.88%, 01/30/2060^(A)		$ 3,710,000		3,366,120

Ecuador - 0.5%
Ecuador Government International Bond
5.00%^(B), 07/31/2030^(C)		2,145,000		1,860,787

Egypt - 2.3%
Egypt Government Bond
14.05%, 07/21/2022		EGP 32,400,000		2,074,340
14.31%, 10/13/2023		34,585,000		2,206,665
Egypt Government International Bond
7.60%, 03/01/2029^(A)		$ 1,545,000		1,486,908
8.88%, 05/29/2050^(A)		4,075,000		3,480,205

				9,248,118

El Salvador - 0.3%
El Salvador Government International Bond
5.88%, 01/30/2025^(A)		1,775,000		1,060,580

Gabon - 0.6%
Gabon Government International Bond
6.63%, 02/06/2031^(A)		1,160,000		1,122,653
6.95%, 06/16/2025^(A)		1,375,000		1,431,100

				2,553,753


Transamerica Funds			Page 3

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)


	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Ghana - 1.0%
Ghana Government International Bond
7.63%, 05/16/2029^(A)		$ 4,940,000		$ 3,838,874

Hungary - 2.7%
Hungary Government Bond
1.50%, 08/26/2026		HUF 1,055,430,000		2,906,694
2.25%, 04/20/2033 - 06/22/2034		2,706,450,000		6,489,796
Hungary Government International Bond
3.13%, 09/21/2051^(A)		$ 1,610,000		1,495,777

				10,892,267

Indonesia - 4.3%
Indonesia Government International Bond
4.35%, 01/08/2027^(A)		6,000,000		6,536,264
4.63%, 04/15/2043^(A)		2,395,000		2,626,047
Indonesia Treasury Bond
7.50%, 08/15/2032		IDR 8,330,000,000		609,314
8.25%, 06/15/2032 - 05/15/2036		42,491,000,000		3,275,019
8.38%, 03/15/2034		51,892,000,000		4,044,704

				17,091,348

Lebanon - 0.0%^(J)
Lebanon Government International Bond
6.85%, 03/23/2027^(C)		$ 1,630,000		168,542

Malaysia - 2.5%
Malaysia Government Bond
3.76%, 05/22/2040		MYR 16,416,000		3,668,234
4.89%, 06/08/2038		12,601,000		3,244,237
Malaysia Sovereign Sukuk Bhd.
3.04%, 04/22/2025^(A)		$ 3,000,000		3,108,348

				10,020,819

Mexico - 5.9%
Mexico Bonos
7.50%, 06/03/2027		MXN 111,097,100		5,365,331
Series M,
7.75%, 05/29/2031		63,450,000		3,087,236
8.50%, 05/31/2029		98,940,000		5,034,774
10.00%, 11/20/2036		18,750,000		1,085,769
Mexico Government International Bond
3.75%, 01/11/2028		$ 2,975,000		3,142,433
4.28%, 08/14/2041		1,220,000		1,192,550
4.40%, 02/12/2052		3,100,000		2,991,500
4.75%, 04/27/2032^(G)		1,660,000		1,816,040

				23,715,633

Nigeria - 1.2%
Nigeria Government International Bond
6.50%, 11/28/2027^{(A) (G)}		1,830,000		1,832,287
7.38%, 09/28/2033^(A)		3,230,000		3,005,838

				4,838,125

Oman - 1.1%
Oman Government International Bond
6.25%, 01/25/2031^{(A) (G)}		2,000,000		2,126,660
7.00%, 01/25/2051^(A)		2,370,000		2,381,850

				4,508,510

Panama - 2.1%
Panama Government International Bond
2.25%, 09/29/2032		1,475,000		1,350,215


	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Panama (continued)
Panama Government International Bond (continued)
3.75%, 03/16/2025		$ 500,000		$ 520,370
3.88%, 03/17/2028		2,125,000		2,231,548
4.50%, 04/16/2050 - 01/19/2063		4,075,000		4,151,087

				8,253,220

Peru - 2.5%
Peru Government International Bond
2.39%, 01/23/2026		2,680,000		2,679,705
2.78%, 01/23/2031		2,475,000		2,400,775
3.00%, 01/15/2034		3,125,000		2,987,531
6.90%, 08/12/2037^(A)		PEN 7,908,000		2,069,150

				10,137,161

Qatar - 1.0%
Qatar Government International Bond
3.40%, 04/16/2025^(A)		$ 3,750,000		3,922,867

Republic of Korea - 0.7%
Export-Import Bank of Korea
8.00%, 05/15/2024^(A)		IDR 35,800,000,000		2,623,641

Republic of South Africa - 2.8%
Republic of South Africa Government Bond
7.00%, 02/28/2031		ZAR 86,008,000		4,710,015
8.00%, 01/31/2030		22,357,100		1,342,444
8.88%, 02/28/2035		87,723,000		5,128,468

				11,180,927

Romania - 1.5%
Romania Government Bond
5.00%, 02/12/2029		RON 12,160,000		2,727,546
Romania Government International Bond
2.13%, 03/07/2028^(A)		EUR 1,000,000		1,122,799
3.00%, 02/27/2027^(A)		$ 1,270,000		1,271,189
5.13%, 06/15/2048^(A)		900,000		1,001,331

				6,122,865

Russian Federation - 1.3%
Russian Federation Federal Bond - OFZ
7.70%, 03/23/2033		RUB 435,025,000		5,040,226

Saudi Arabia - 1.3%
Saudi Arabia Government International Bond
3.25%, 10/26/2026^(A)		$ 3,077,000		3,213,951
4.63%, 10/04/2047^(A)		1,913,000		2,181,624

				5,395,575

Supranational - 0.3%
Banque Ouest Africaine de Developpement
4.70%, 10/22/2031^(A)		1,050,000		1,129,380

Thailand - 2.0%
Thailand Government Bond
0.95%, 06/17/2025		THB 63,285,000		1,897,551
1.59%, 12/17/2035		102,162,000		2,730,383
2.13%, 12/17/2026		56,116,000		1,743,472
3.78%, 06/25/2032		53,413,000		1,830,188

				8,201,594

Turkey - 1.6%
Turkey Government International Bond
5.88%, 06/26/2031		$ 1,020,000		889,950
6.38%, 10/14/2025^(G)		2,680,000		2,646,339
6.50%, 09/20/2033		1,110,000		988,566


Transamerica Funds			Page 4

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)


	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Turkey (continued)
Turkiye Ihracat Kredi Bankasi AS
5.75%, 07/06/2026^(A)		$ 1,990,000		$ 1,871,794

				6,396,649

Ukraine - 3.4%
Ukraine Government International Bond
Zero Coupon^(F), 05/31/2040^(C)		3,960,000		2,970,000
7.38%, 09/25/2032^(C)		1,120,000		945,235
7.75%, 09/01/2023 - 09/01/2025^(C)		8,015,000		7,122,641
9.75%, 11/01/2028^(C)		2,900,000		2,729,306

				13,767,182

United Arab Emirates - 1.2%
Abu Dhabi Government International Bond
3.13%, 10/11/2027^(A)		2,500,000		2,635,675
Finance Department Government of Sharjah
3.63%, 03/10/2033^(A)		2,200,000		2,067,120

				4,702,795

Venezuela - 0.2%
Venezuela Government International Bond
9.00%, 05/07/2023^{(C) (H) (I)}		9,260,000		509,300
11.95%, 08/05/2031^{(C) (H) (I)}		5,565,000		306,075

				815,375

Virgin Islands, British - 0.3%
1MDB Global Investments Ltd.
4.40%, 03/09/2023^(C)		1,200,000		1,200,899


	Principal		Value
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Zambia - 0.5%
Zambia Government International Bond
5.38%, 09/20/2022^(C)		$ 1,940,000		$ 1,393,211
8.50%, 04/14/2024^(C)		570,000		427,785

				1,820,996

Total Foreign Government Obligations (Cost $247,344,671)				233,286,463


OTHER INVESTMENT COMPANY - 1.1%
Securities Lending Collateral - 1.1%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 0.04% ^(K)		4,276,386		4,276,386

Total Other Investment Company (Cost $4,276,386)				4,276,386


REPURCHASE AGREEMENT - 4.2%
Fixed Income Clearing Corp., 0.00%^(K), dated 01/31/2022, to be repurchased at $16,845,899 on 02/01/2022. Collateralized by a U.S. Government Obligation, 3.63%, due 04/15/2028, and with a value of $17,182,991.		$ 16,845,899		16,845,899

Total Repurchase Agreement (Cost $16,845,899)				16,845,899

Total Investments (Cost $420,094,944)				400,615,642
Net Other Assets (Liabilities) - (0.2)%				(775,251	)

Net Assets - 100.0%				$ 399,840,391

FORWARD FOREIGN CURRENCY CONTRACTS:


Counterparty	Settlement Date		Currency Purchased		Currency Sold		Unrealized Appreciation		Unrealized Depreciation
BCLY		02/02/2022	USD	3,854,533	BRL	20,735,764	$	—	$	(48,323	)
BCLY		02/02/2022	BRL	20,735,764	USD	3,849,347		53,510		—
BCLY		02/22/2022	USD	1,925,947	CLP	1,566,276,398		—		(24,794	)
HSBC		02/28/2022	USD	602,817	HUF	193,112,564		—		(5,706	)
HSBC		02/28/2022	CZK	136,574,126	USD	6,229,435		56,786		—
HSBC		02/28/2022	THB	65,226,596	USD	1,959,934		—		(1,192	)
HSBC		02/28/2022	PLN	19,239,993	USD	4,704,730		1,045		—
JPM		02/28/2022	USD	3,448,934	EUR	3,088,627		—		(22,925	)
JPM		02/28/2022	USD	1,923,352	RUB	154,079,729		—		(55,867	)
MSC		02/28/2022	USD	5,791,454	MXN	120,334,837		—		(15,511	)
MSC		02/28/2022	ZAR	19,520,168	USD	1,277,345		—		(12,274	)

Total							$	111,341	$	(186,592	)


Transamerica Funds			Page 5

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)

INVESTMENTS BY INDUSTRY:


Industry	Percentage of Total Investments			Value
Foreign Government Obligations		58.2	%		$	233,286,463
Oil, Gas & Consumable Fuels		13.3				53,466,231
Electric Utilities		3.6				14,480,871
Banks		2.1				8,294,821
Metals & Mining		2.1				8,262,540
Food Products		1.9				7,754,112
Chemicals		1.6				6,594,175
Energy Equipment & Services		1.5				5,871,750
Wireless Telecommunication Services		1.3				5,120,595
Diversified Telecommunication Services		1.2				4,727,591
Real Estate Management & Development		1.2				4,655,692
Internet & Direct Marketing Retail		0.8				3,376,227
Construction & Engineering		0.8				3,304,133
Consumer Finance		0.6				2,362,389
Transportation Infrastructure		0.6				2,229,368
Beverages		0.5				2,119,084
Specialty Retail		0.5				2,106,024
Professional Services		0.5				2,063,372
Capital Markets		0.5				1,993,860
Semiconductors & Semiconductor Equipment		0.5				1,973,421
Road & Rail		0.5				1,803,847
Pharmaceuticals		0.3				1,216,165
Hotels, Restaurants & Leisure		0.3				1,052,736
Paper & Forest Products		0.2				837,397
Marine		0.1				540,493

Investments		94.7				379,493,357
Short-Term Investments		5.3				21,122,285

Total Investments		100.0	%		$	400,615,642

INVESTMENT VALUATION:

Valuation Inputs ^(L)


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	146,206,894		$	—	$	146,206,894
Foreign Government Obligations		—		233,286,463			—		233,286,463
Other Investment Company		4,276,386		—			—		4,276,386
Repurchase Agreement		—		16,845,899			—		16,845,899

Total Investments	$	4,276,386	$	396,339,256		$	—	$	400,615,642

Other Financial Instruments
Forward Foreign Currency Contracts ^(M)	$	—	$	111,341		$	—	$	111,341

Total Other Financial Instruments	$	—	$	111,341		$	—	$	111,341

LIABILITIES
Other Financial Instruments
Forward Foreign Currency Contracts ^(M)	$	—	$	(186,592	)	$	—	$	(186,592	)

Total Other Financial Instruments	$	—	$	(186,592	)	$	—	$	(186,592	)


Transamerica Funds			Page 6

Transamerica Emerging Markets Debt

SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)

FOOTNOTES TO SCHEDULE OF INVESTMENTS:


(A)		Securities are exempt from registration pursuant to Rule 144A of the Securities Act of 1933. Securities may be resold as transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2022, the total value of 144A securities is $173,293,971, representing 43.3% of the Fund’s net assets.
(B)		Step bonds. Coupon rates change in increments to maturity. The rates disclosed are as of January 31, 2022; the maturity dates disclosed are the ultimate maturity dates.
(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, 2022, the total value of Regulation S securities is $55,020,480, representing 13.8% of the Fund’s net assets.
(D)		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.
(E)		Perpetual maturity. The date displayed is the next call date.
(F)		Floating or variable rate securities. The rates disclosed are as of January 31, 2022. 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.
(G)		All or a portion of the securities are on loan. The total value of all securities on loan is $8,630,556, collateralized by cash collateral of $4,276,386 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $4,534,385. 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)		Non-income producing securities.
(I)		Securities in default; no interest payments received and/or dividends declared during the last 12 months. At January 31, 2022, the total value of such securities is $1,097,400, representing 0.3% of the Fund’s net assets.
(J)		Percentage rounds to less than 0.1% or (0.1)%.
(K)		Rates disclosed reflect the yields at January 31, 2022.
(L)		There were no transfers in or out of Level 3 during the period ended January 31, 2022. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(M)		Derivative instruments are valued at unrealized appreciation (depreciation).

CURRENCY ABBREVIATIONS:


BRL		Brazilian Real
CLP		Chilean Peso
CNY		Chinese Yuan Renminbi (onshore)
CZK		Czech Republic Koruna
EGP		Egyptian Pound
EUR		Euro
HUF		Hungarian Forint
IDR		Indonesian Rupiah
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
ZAR		South African Rand

COUNTERPARTY ABBREVIATIONS:


BCLY		Barclays Bank PLC
HSBC		HSBC Bank USA
JPM		JPMorgan Chase Bank, N.A.
MSC		Morgan Stanley & Co.


Transamerica Funds			Page 7

Transamerica Emerging Markets Debt

NOTES TO SCHEDULE OF INVESTMENTS

At January 31, 2022

(unaudited)

INVESTMENT VALUATION

Transamerica Emerging Markets Debt (the “Fund”) is a series of the Transamerica Funds.

All investments in securities are recorded at their estimated fair value. The Fund values its investments at the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Generally Accepted Accounting Principles in the United States of America establishes a hierarchy that prioritizes inputs to valuation methods. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three levels (“Levels”) of inputs of the fair value hierarchy are defined as follows:

Level 1 — Unadjusted quoted prices in active markets for identical securities.

Level 2 — Inputs, other than quoted prices included in Level 1, which are observable, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include the Fund’s 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 Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Fund’s investments at January 31, 2022, is disclosed within the Investment Valuation section of the Schedule of Investments.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, but not limited to, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is generally greatest for instruments categorized in Level 3. Due to the inherent uncertainty of valuation, the determination of values may differ significantly from values that would have been realized had a ready market for investments existed, and the differences could be material.

Fair value measurements: Descriptions of the valuation techniques applied to the Fund’s significant categories of assets and liabilities measured at fair value on a recurring basis are as follows:

Corporate debt securities: The fair value of corporate debt securities is estimated using various techniques, which consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and credit default swap spreads adjusted for any basis difference between cash and derivative instruments. While most corporate debt securities are categorized in Level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in Level 3.

Foreign government obligations: Foreign government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. Foreign government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.

Securities lending collateral: Securities lending collateral is invested in a money market fund which is valued at the actively traded NAV and no valuation adjustments are applied. Securities lending collateral is categorized in Level 1 of the fair value hierarchy.

Repurchase agreements: Repurchase agreements are valued at cost, which approximates fair value. To the extent the inputs are observable and timely, the values are generally categorized in Level 2 of the fair value hierarchy.


Transamerica Funds			Page 8

Transamerica Emerging Markets Debt

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At January 31, 2022

(unaudited)

Derivative instruments: Centrally cleared or listed derivatives that are actively traded are valued based on quoted prices from the exchange and are categorized in Level 1 of the fair value hierarchy. Over-the-counter (“OTC”) derivative contracts include forward, swap, swaption, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices. Depending on the product and the terms of the transaction, the fair value of the OTC derivative products are modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets, as is the case of interest rate swap and option contracts. The majority of OTC derivative products valued by the Fund using pricing models fall into this category and are categorized within Level 2 of the fair value hierarchy or Level 3 if inputs are unobservable.


Transamerica Funds			Page 9