Transamerica T. Rowe Price Small Cap VP

SCHEDULE OF INVESTMENTS

At March 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS - 99.0%
Aerospace & Defense - 2.2%
Cadre Holdings, Inc.		29,203		$ 1,057,148
Curtiss-Wright Corp.		25,868		6,620,656
Leonardo DRS, Inc. (A)		138,396		3,057,168
Moog, Inc., Class A		4,271		681,865
Woodward, Inc.		25,656		3,954,103
				15,370,940
Air Freight & Logistics - 0.4%
GXO Logistics, Inc. (A)		50,033		2,689,774
Automobile Components - 0.5%
LCI Industries		3,213		395,392
Patrick Industries, Inc.		15,274		1,824,785
Visteon Corp. (A)		9,728		1,144,110
				3,364,287
Banks - 0.5%
Bancorp, Inc. (A)		68,966		2,307,602
ServisFirst Bancshares, Inc.		19,067		1,265,286
				3,572,888
Beverages - 0.8%
Celsius Holdings, Inc. (A)		21,162		1,754,753
Coca-Cola Consolidated, Inc.		4,244		3,592,164
				5,346,917
Biotechnology - 9.5%
ACADIA Pharmaceuticals, Inc. (A)		58,813		1,087,452
Agios Pharmaceuticals, Inc. (A)		24,785		724,713
Akero Therapeutics, Inc. (A)		29,199		737,567
Alkermes PLC (A)		70,835		1,917,503
Allogene Therapeutics, Inc. (A)		26,745		119,550
Alpine Immune Sciences, Inc. (A)		20,700		820,548
Amicus Therapeutics, Inc. (A)		81,318		957,926
Arcellx, Inc. (A)		15,000		1,043,250
Avidity Biosciences, Inc. (A)		58,364		1,489,449
Biohaven Ltd. (A)		62,646		3,426,110
Biomea Fusion, Inc. (A) (B)		9,500		142,025
Blueprint Medicines Corp. (A)		40,492		3,841,071
Bridgebio Pharma, Inc. (A)		45,785		1,415,672
Catalyst Pharmaceuticals, Inc. (A)		73,585		1,172,945
Celldex Therapeutics, Inc. (A)		19,905		835,413
Cerevel Therapeutics Holdings, Inc. (A)		17,567		742,557
Crinetics Pharmaceuticals, Inc. (A)		27,117		1,269,347
CRISPR Therapeutics AG (A) (B)		34,932		2,380,965
Cytokinetics, Inc. (A)		43,102		3,021,881
Day One Biopharmaceuticals, Inc. (A)		20,533		339,205
Denali Therapeutics, Inc. (A)		15,343		314,838
Disc Medicine, Inc. (A)		5,400		336,204
Exelixis, Inc. (A)		132,586		3,146,266
Halozyme Therapeutics, Inc. (A)		77,290		3,144,157
Ideaya Biosciences, Inc. (A)		23,001		1,009,284
IGM Biosciences, Inc. (A) (B)		13,760		132,784
Immunovant, Inc. (A)		17,787		574,698
Insmed, Inc. (A)		94,315		2,558,766
Intellia Therapeutics, Inc. (A)		28,670		788,712
Ionis Pharmaceuticals, Inc. (A)		52,347		2,269,242
Iovance Biotherapeutics, Inc. (A)		92,444		1,370,020
Krystal Biotech, Inc. (A)		8,193		1,457,780
Kymera Therapeutics, Inc. (A)		44,821		1,801,804
Madrigal Pharmaceuticals, Inc., ADR (A)		4,691		1,252,685

	Shares		Value
COMMON STOCKS (continued)
Biotechnology (continued)
Merus NV (A)		10,300		$  463,809
Mirum Pharmaceuticals, Inc. (A)		6,900		173,328
Monte Rosa Therapeutics, Inc. (A) (B)		5,200		36,660
MoonLake Immunotherapeutics (A) (B)		7,200		361,656
Morphic Holding, Inc. (A)		17,759		625,117
Natera, Inc. (A)		37,513		3,430,939
Neurocrine Biosciences, Inc. (A)		13,757		1,897,365
Nurix Therapeutics, Inc. (A)		12,618		185,485
Nuvalent, Inc., Class A (A)		10,906		818,932
Prothena Corp. PLC (A)		35,512		879,632
PTC Therapeutics, Inc. (A)		39,295		1,143,092
Relay Therapeutics, Inc. (A)		53,020		440,066
Replimune Group, Inc. (A)		40,933		334,423
REVOLUTION Medicines, Inc. (A)		17,774		572,856
Rhythm Pharmaceuticals, Inc. (A)		17,143		742,806
Rocket Pharmaceuticals, Inc. (A)		24,334		655,558
Scholar Rock Holding Corp. (A)		31,906		566,651
SpringWorks Therapeutics, Inc. (A)		16,059		790,424
Ultragenyx Pharmaceutical, Inc. (A)		28,123		1,313,063
Vaxcyte, Inc. (A)		26,584		1,815,953
Xencor, Inc. (A)		40,346		892,857
Zentalis Pharmaceuticals, Inc. (A)		13,435		211,736
				65,994,797
Building Products - 3.5%
AAON, Inc.		32,924		2,900,604
AZEK Co., Inc. (A)		81,100		4,072,842
Builders FirstSource, Inc. (A)		18,727		3,905,516
CSW Industrials, Inc.		12,201		2,862,355
Gibraltar Industries, Inc. (A)		9,256		745,386
Simpson Manufacturing Co., Inc.		22,234		4,561,972
UFP Industries, Inc.		40,911		5,032,462
				24,081,137
Capital Markets - 1.8%
Blue Owl Capital, Inc.		126,270		2,381,452
Donnelley Financial Solutions, Inc. (A)		19,600		1,215,396
FactSet Research Systems, Inc.		5,153		2,341,472
Hamilton Lane, Inc., Class A		24,300		2,740,068
LPL Financial Holdings, Inc.		5,348		1,412,942
MarketAxess Holdings, Inc.		1,848		405,174
StoneX Group, Inc. (A)		26,586		1,867,932
				12,364,436
Chemicals - 1.4%
Axalta Coating Systems Ltd. (A)		83,327		2,865,616
Balchem Corp.		11,167		1,730,327
Element Solutions, Inc.		68,278		1,705,584
Olin Corp.		45,433		2,671,460
Quaker Chemical Corp.		5,200		1,067,300
				10,040,287
Commercial Services & Supplies - 1.8%
Casella Waste Systems, Inc., Class A (A)		49,169		4,861,339
Clean Harbors, Inc. (A)		17,997		3,622,976
MSA Safety, Inc.		14,099		2,729,426
Rentokil Initial PLC, ADR (B)		44,807		1,350,931
				12,564,672
Communications Equipment - 0.1%
Extreme Networks, Inc. (A)		39,706		458,207
Construction & Engineering - 2.1%
API Group Corp. (A)		86,694		3,404,473
Comfort Systems USA, Inc.		21,519		6,836,801

Transamerica Series Trust Page 1  

Transamerica T. Rowe Price Small Cap VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Construction & Engineering (continued)
EMCOR Group, Inc.		6,508		$  2,279,102
WillScot Mobile Mini Holdings Corp. (A)		39,098		1,818,057
				14,338,433
Construction Materials - 0.8%
Eagle Materials, Inc.		21,167		5,752,132
Consumer Staples Distribution & Retail - 0.8%
BJ’s Wholesale Club Holdings, Inc. (A)		5,024		380,065
Casey’s General Stores, Inc.		7,217		2,298,254
Performance Food Group Co. (A)		38,437		2,868,938
				5,547,257
Containers & Packaging - 0.2%
Graphic Packaging Holding Co.		58,750		1,714,325
Distributors - 0.4%
Pool Corp.		7,039		2,840,236
Diversified Consumer Services - 1.4%
Bright Horizons Family Solutions, Inc. (A)		16,029		1,817,047
Duolingo, Inc. (A)		12,693		2,799,822
Grand Canyon Education, Inc. (A)		13,898		1,893,047
H&R Block, Inc.		30,900		1,517,499
Stride, Inc. (A)		27,700		1,746,485
				9,773,900
Diversified Telecommunication Services - 0.5%
Cogent Communications Holdings, Inc.		22,549		1,473,126
GCI Liberty, Inc. (A) (C) (D) (E)		66,048		0
Iridium Communications, Inc.		73,583		1,924,932
				3,398,058
Electrical Equipment - 1.3%
Atkore, Inc.		24,873		4,734,824
NEXTracker, Inc., Class A (A)		6,800		382,636
Vertiv Holdings Co.		47,370		3,868,708
				8,986,168
Electronic Equipment, Instruments & Components - 2.8%
Advanced Energy Industries, Inc.		21,652		2,208,071
Fabrinet (A)		26,607		5,029,255
Littelfuse, Inc.		4,244		1,028,533
Novanta, Inc. (A)		27,120		4,739,763
Teledyne Technologies, Inc. (A)		3,872		1,662,327
Vontier Corp.		100,100		4,540,536
Zebra Technologies Corp., Class A (A)		1,466		441,911
				19,650,396
Energy Equipment & Services - 2.4%
ChampionX Corp.		37,425		1,343,183
Expro Group Holdings NV (A)		38,900		776,833
Noble Corp. PLC		51,063		2,476,045
TechnipFMC PLC		73,868		1,854,826
Tidewater, Inc. (A)		31,991		2,943,172
Weatherford International PLC (A)		61,753		7,127,531
				16,521,590
Entertainment - 0.7%
Endeavor Group Holdings, Inc., Class A		120,418		3,098,355
TKO Group Holdings, Inc.		22,273		1,924,610
				5,022,965
Financial Services - 1.3%
Affirm Holdings, Inc. (A)		14,191		528,757

	Shares		Value
COMMON STOCKS (continued)
Financial Services (continued)
Euronet Worldwide, Inc. (A)		17,611		$  1,935,977
EVERTEC, Inc.		37,474		1,495,213
Mr Cooper Group, Inc. (A)		19,700		1,535,615
Payoneer Global, Inc. (A)		235,726		1,145,628
Shift4 Payments, Inc., Class A (A) (B)		32,431		2,142,716
				8,783,906
Food Products - 0.7%
Post Holdings, Inc. (A)		34,343		3,649,974
Simply Good Foods Co. (A)		35,992		1,224,808
				4,874,782
Ground Transportation - 2.0%
Landstar System, Inc.		13,486		2,599,561
Saia, Inc. (A)		9,817		5,742,945
XPO, Inc. (A)		42,472		5,182,858
				13,525,364
Health Care Equipment & Supplies - 3.8%
CONMED Corp.		11,384		911,631
Globus Medical, Inc., Class A (A)		57,930		3,107,365
Haemonetics Corp. (A)		18,717		1,597,496
Inari Medical, Inc. (A)		22,676		1,087,994
Inspire Medical Systems, Inc. (A)		10,236		2,198,590
iRhythm Technologies, Inc. (A)		12,179		1,412,764
Lantheus Holdings, Inc. (A)		47,812		2,975,819
Merit Medical Systems, Inc. (A)		48,655		3,685,616
Penumbra, Inc. (A)		7,525		1,679,430
PROCEPT BioRobotics Corp. (A)		34,038		1,682,158
Shockwave Medical, Inc. (A)		4,023		1,310,010
STERIS PLC		11,939		2,684,126
TransMedics Group, Inc. (A) (B)		17,800		1,316,132
UFP Technologies, Inc. (A)		2,400		605,280
				26,254,411
Health Care Providers & Services - 4.7%
Addus HomeCare Corp. (A)		19,596		2,025,051
AMN Healthcare Services, Inc. (A)		23,825		1,489,301
Chemed Corp.		1,738		1,115,674
CorVel Corp. (A)		13,172		3,463,709
Encompass Health Corp.		29,200		2,411,336
Ensign Group, Inc.		52,540		6,537,027
Guardant Health, Inc. (A)		33,764		696,551
Molina Healthcare, Inc. (A)		12,824		5,268,484
NeoGenomics, Inc. (A)		38,796		609,873
Option Care Health, Inc. (A)		103,972		3,487,221
Tenet Healthcare Corp. (A)		54,247		5,701,902
				32,806,129
Health Care Technology - 0.2%
Evolent Health, Inc., Class A (A)		40,907		1,341,341
Hotels, Restaurants & Leisure - 5.2%
Bloomin’ Brands, Inc.		60,770		1,742,884
Boyd Gaming Corp.		57,923		3,899,376
Cava Group, Inc. (A)		13,781		965,359
Choice Hotels International, Inc.		14,278		1,804,025
Churchill Downs, Inc.		21,973		2,719,159
Domino’s Pizza, Inc.		7,370		3,662,006
Hilton Grand Vacations, Inc. (A)		30,674		1,448,120
Light & Wonder, Inc. (A)		45,100		4,604,259
Red Rock Resorts, Inc., Class A		21,451		1,283,199
Texas Roadhouse, Inc.		38,624		5,966,249
Travel & Leisure Co.		16,804		822,724

Transamerica Series Trust Page 2  

Transamerica T. Rowe Price Small Cap VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Hotels, Restaurants & Leisure (continued)
United Parks & Resorts, Inc. (A)		13,240		$  744,220
Wingstop, Inc.		18,466		6,765,942
				36,427,522
Household Durables - 2.4%
Cavco Industries, Inc. (A)		6,263		2,499,313
Green Brick Partners, Inc. (A)		28,874		1,739,081
Installed Building Products, Inc.		11,500		2,975,395
Skyline Champion Corp. (A)		29,515		2,509,070
Tempur Sealy International, Inc.		73,813		4,194,054
TopBuild Corp. (A)		6,356		2,801,280
				16,718,193
Independent Power & Renewable Electricity Producers - 0.2%
Ormat Technologies, Inc.		23,013		1,523,230
Industrial REITs - 0.6%
First Industrial Realty Trust, Inc.		34,504		1,812,840
Rexford Industrial Realty, Inc.		22,173		1,115,302
Terreno Realty Corp.		14,127		938,033
				3,866,175
Insurance - 2.2%
Kinsale Capital Group, Inc.		3,891		2,041,763
Oscar Health, Inc., Class A (A)		60,800		904,096
Palomar Holdings, Inc. (A)		9,227		773,500
Primerica, Inc.		16,440		4,158,662
RLI Corp.		15,091		2,240,561
Ryan Specialty Holdings, Inc.		51,494		2,857,917
Selective Insurance Group, Inc.		23,729		2,590,495
				15,566,994
Interactive Media & Services - 0.1%
Reddit, Inc., Class A (A) (B)		6,819		336,313
IT Services - 0.5%
Gartner, Inc. (A)		4,381		2,088,291
Perficient, Inc. (A)		21,504		1,210,460
				3,298,751
Leisure Products - 0.6%
Brunswick Corp.		16,192		1,562,852
Mattel, Inc. (A)		133,570		2,646,022
				4,208,874
Life Sciences Tools & Services - 2.5%
10X Genomics, Inc., Class A (A)		37,809		1,418,972
Bruker Corp.		17,800		1,672,132
Charles River Laboratories International, Inc. (A)		9,059		2,454,536
Medpace Holdings, Inc. (A)		14,979		6,053,763
Repligen Corp. (A)		15,649		2,878,164
West Pharmaceutical Services, Inc.		7,752		3,067,544
				17,545,111
Machinery - 4.0%
Albany International Corp., Class A		2,267		211,987
Federal Signal Corp.		44,195		3,750,830
John Bean Technologies Corp.		10,311		1,081,521
Kadant, Inc.		14,103		4,627,194
Lincoln Electric Holdings, Inc.		14,283		3,648,449
RBC Bearings, Inc. (A)		14,060		3,801,121
SPX Technologies, Inc. (A)		33,938		4,178,786
Symbotic, Inc. (A) (B)		24,100		1,084,500

	Shares		Value
COMMON STOCKS (continued)
Machinery (continued)
Toro Co.		9,691		$  887,986
Watts Water Technologies, Inc., Class A		20,112		4,274,806
				27,547,180
Media - 0.6%
Nexstar Media Group, Inc.		22,575		3,889,447
Thryv Holdings, Inc. (A)		26,965		599,432
				4,488,879
Metals & Mining - 0.8%
Alpha Metallurgical Resources, Inc.		5,913		1,958,208
ATI, Inc. (A)		73,420		3,756,902
				5,715,110
Oil, Gas & Consumable Fuels - 1.6%
Centrus Energy Corp., Class A (A)		22,077		916,858
Dorian LPG Ltd.		13,600		523,056
Kosmos Energy Ltd. (A)		115,086		685,913
Matador Resources Co.		57,469		3,837,205
PBF Energy, Inc., Class A		5,846		336,554
Range Resources Corp.		21,709		747,441
SM Energy Co.		39,911		1,989,563
Southwestern Energy Co. (A)		314,353		2,382,796
				11,419,386
Paper & Forest Products - 0.5%
Louisiana-Pacific Corp.		42,047		3,528,164
Personal Care Products - 1.9%
BellRing Brands, Inc. (A)		70,530		4,163,386
Coty, Inc., Class A (A)		80,062		957,541
elf Beauty, Inc. (A)		27,403		5,371,810
Inter Parfums, Inc.		19,766		2,777,321
				13,270,058
Pharmaceuticals - 1.4%
Amphastar Pharmaceuticals, Inc. (A)		35,129		1,542,514
Arvinas, Inc. (A)		27,237		1,124,343
Catalent, Inc. (A)		14,173		800,066
Intra-Cellular Therapies, Inc. (A)		42,482		2,939,755
Pacira BioSciences, Inc. (A)		19,425		567,599
Pliant Therapeutics, Inc. (A)		15,638		233,006
Prestige Consumer Healthcare, Inc. (A)		18,872		1,369,352
Supernus Pharmaceuticals, Inc. (A)		23,843		813,285
				9,389,920
Professional Services - 4.2%
ASGN, Inc. (A)		13,154		1,378,013
Booz Allen Hamilton Holding Corp.		33,186		4,926,130
Broadridge Financial Solutions, Inc., ADR		9,093		1,862,792
CACI International, Inc., Class A (A)		12,557		4,756,968
CBIZ, Inc. (A)		50,233		3,943,291
ExlService Holdings, Inc. (A)		125,504		3,991,027
FTI Consulting, Inc. (A)		16,252		3,417,633
Paylocity Holding Corp. (A)		6,705		1,152,321
TriNet Group, Inc.		13,300		1,762,117
Verra Mobility Corp. (A)		86,868		2,169,094
				29,359,386
Residential REITs - 0.2%
Equity LifeStyle Properties, Inc.		17,727		1,141,619
Semiconductors & Semiconductor Equipment - 4.5%
Astera Labs, Inc. (A) (B)		5,591		414,796
Axcelis Technologies, Inc. (A)		27,360		3,051,187

Transamerica Series Trust Page 3  

Transamerica T. Rowe Price Small Cap VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

	Shares		Value
COMMON STOCKS (continued)
Semiconductors & Semiconductor Equipment (continued)
Cirrus Logic, Inc. (A)		19,590		$  1,813,250
Diodes, Inc. (A)		34,254		2,414,907
Entegris, Inc.		11,102		1,560,275
FormFactor, Inc. (A)		31,005		1,414,758
Kulicke & Soffa Industries, Inc.		28,699		1,443,847
Lattice Semiconductor Corp. (A)		32,142		2,514,469
MKS Instruments, Inc.		10,621		1,412,593
Monolithic Power Systems, Inc.		3,282		2,223,293
Onto Innovation, Inc. (A)		31,979		5,790,757
Photronics, Inc. (A)		45,900		1,299,888
Power Integrations, Inc.		24,135		1,726,859
Rambus, Inc. (A)		63,034		3,896,132
				30,977,011
Software - 9.9%
A10 Networks, Inc.		67,900		929,551
ACI Worldwide, Inc. (A)		38,506		1,278,784
Agilysys, Inc. (A)		23,372		1,969,325
Appfolio, Inc., Class A (A)		11,400		2,812,836
Blackbaud, Inc. (A)		23,923		1,773,651
Box, Inc., Class A (A)		54,568		1,545,366
Descartes Systems Group, Inc. (A)		52,434		4,799,284
DoubleVerify Holdings, Inc. (A)		81,406		2,862,235
Fair Isaac Corp. (A)		2,458		3,071,541
Fortinet, Inc. (A)		36,168		2,470,636
Informatica, Inc., Class A (A)		69,844		2,444,540
Manhattan Associates, Inc. (A)		13,842		3,463,684
MicroStrategy, Inc., Class A (A) (B)		3,350		5,710,276
Nutanix, Inc., Class A (A)		94,347		5,823,097
PowerSchool Holdings, Inc., Class A (A)		73,379		1,562,239
PTC, Inc. (A)		17,645		3,333,846
Q2 Holdings, Inc. (A)		42,400		2,228,544
Qualys, Inc. (A)		21,037		3,510,444
Rapid7, Inc. (A)		30,254		1,483,656
Sapiens International Corp. NV		49,951		1,606,424
Smartsheet, Inc., Class A (A)		54,685		2,105,373
SPS Commerce, Inc. (A)		23,934		4,425,397
Tenable Holdings, Inc. (A)		54,100		2,674,163
Teradata Corp. (A)		22,606		874,174
Tyler Technologies, Inc. (A)		6,204		2,636,762
Workiva, Inc. (A)		16,830		1,427,184
				68,823,012
Specialty Retail - 3.3%
Abercrombie & Fitch Co., Class A (A)		27,600		3,459,108
Academy Sports & Outdoors, Inc.		24,810		1,675,667
Asbury Automotive Group, Inc. (A)		6,611		1,558,742
Carvana Co. (A)		45,140		3,968,257
Dick’s Sporting Goods, Inc.		13,586		3,054,948
Murphy USA, Inc.		13,928		5,838,618
Penske Automotive Group, Inc.		11,068		1,792,905
Valvoline, Inc. (A)		29,916		1,333,356
				22,681,601
Technology Hardware, Storage & Peripherals - 0.1%
Pure Storage, Inc., Class A (A)		4,559		237,022
Super Micro Computer, Inc. (A)		633		639,349
				876,371
Textiles, Apparel & Luxury Goods - 0.7%
Crocs, Inc. (A)		10,114		1,454,393
Deckers Outdoor Corp. (A)		3,820		3,595,613
				5,050,006

	Shares		Value
COMMON STOCKS (continued)
Trading Companies & Distributors - 2.4%
Boise Cascade Co.		13,400		$  2,055,158
Core & Main, Inc., Class A (A)		88,500		5,066,625
FTAI Aviation Ltd.		50,800		3,418,840
Herc Holdings, Inc.		7,064		1,188,871
SiteOne Landscape Supply, Inc. (A)		16,896		2,949,197
Watsco, Inc.		4,739		2,047,106
				16,725,797
Total Common Stocks (Cost $511,765,229)				687,464,398
OTHER INVESTMENT COMPANY - 1.7%
Securities Lending Collateral - 1.7%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.29% (F)		11,507,475		11,507,475
Total Other Investment Company (Cost $11,507,475)				11,507,475
	Principal		Value
REPURCHASE AGREEMENT - 0.6%
Fixed Income Clearing Corp., 2.50% (F), dated 03/28/2024, to be repurchased at $4,473,953 on 04/01/2024. Collateralized by a U.S. Government Obligation, 4.00%, due 12/15/2025, and with a value of $4,562,182.		$ 4,472,711		4,472,711
Total Repurchase Agreement (Cost $4,472,711)				4,472,711
Total Investments (Cost $527,745,415)				703,444,584
Net Other Assets (Liabilities) - (1.3)%				(9,130,504	)
Net Assets - 100.0%				$ 694,314,080

Transamerica Series Trust Page 4  

Transamerica T. Rowe Price Small Cap VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

INVESTMENT VALUATION:

Valuation Inputs ^(G)

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs (H)		Value
ASSETS
Investments
Common Stocks	$	687,464,398	$	—	$	0	$	687,464,398
Other Investment Company		11,507,475		—		—		11,507,475
Repurchase Agreement		—		4,472,711		—		4,472,711
Total Investments	$	698,971,873	$	4,472,711	$	0	$	703,444,584

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 $15,254,634, collateralized by cash collateral of $11,507,475 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $4,082,973. 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)	Fair valued as determined in good faith in accordance with procedures established by the Board. At March 31, 2024, the value of the security is $0, representing less than 0.1% of the Portfolio’s net assets.
(D)	Security deemed worthless.
(E)	Security is Level 3 of the fair value hierarchy.
(F)	Rates disclosed reflect the yields at March 31, 2024.
(G)	There were no transfers in or out of Level 3 during the period ended March 31, 2024. Please reference the Investment Valuation section of the Notes to Schedule of Investments for more information regarding investment valuation and pricing inputs.
(H)	Level 3 securities were not considered significant to the Portfolio.

PORTFOLIO ABBREVIATIONS:

ADR	American Depositary Receipt
REIT	Real Estate Investment Trust

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Transamerica T. Rowe Price Small Cap VP

NOTES TO SCHEDULE OF INVESTMENTS

At March 31, 2024

(unaudited)

INVESTMENT VALUATION

Transamerica T. Rowe Price Small Cap VP (the “Portfolio”) is a series of the Transamerica Series Trust.

Transamerica Asset Management, Inc. (“TAM”) has been designated as the Portfolio’s valuation designee pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, with responsibility for fair valuation subject to oversight by the Portfolio’s Board of Trustees. The net asset value of the Portfolio is computed as of the official close of the New York Stock Exchange (“NYSE”) each day the NYSE is open for business.

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

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

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

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include TAM’s own assumptions used in determining the fair value of the Portfolio’s investments.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy that is assigned to the fair value measurement of a security is determined based on the lowest Level input that is significant to the fair value measurement in its entirety. Certain investments that are measured at fair value using Net Asset Value (“NAV”) per share, or its equivalent, using the “practical expedient” have not been classified in the fair value Levels. The hierarchy classification of inputs used to value the Portfolio’s investments at March 31, 2024, is disclosed within the Investment Valuation section of the Schedule of Investments.

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

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

Equity securities: Securities are stated at the last reported sales price or closing price on the day of valuation taken from the primary exchange where the security is principally traded. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Equities traded on inactive markets or valued by reference to similar instruments are generally categorized in Level 2 or Level 3 if inputs are unobservable.

Foreign equity securities: Securities in which the primary trading market closes at the same time or after the NYSE, are valued based on quotations from the primary market in which they are traded and are categorized in Level 1. Because many foreign securities markets and exchanges close prior to the close of the NYSE, closing prices for foreign securities in those markets or on those exchanges do not reflect the events that occur after that close. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, or ETFs and the movement of certain indices of securities based on a statistical analysis of their historical relationship; such valuations generally are categorized in Level 2.

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

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

Transamerica Series Trust Page 6