Matador Resources Co.

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Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES - 96.1%
Aerospace & Defense - 1.3%
TransDigm, Inc.
4.88%, 05/01/2029		$ 937,000		$ 871,486
5.50%, 11/15/2027		754,000		738,315
6.38%, 03/01/2029 ^(A)		383,000		384,677
6.88%, 12/15/2030 ^(A)		385,000		392,468
7.13%, 12/01/2031 ^(A)		85,000		87,585
Triumph Group, Inc.
9.00%, 03/15/2028 ^(A)		822,000		866,880

				3,341,411

Automobile Components - 2.8%
Clarios Global LP
6.75%, 05/15/2025 ^(A)		365,000		365,372
Clarios Global LP/Clarios US Finance Co.
6.25%, 05/15/2026 ^(A)		462,000		461,610
6.75%, 05/15/2028 ^(A)		419,000		424,749
8.50%, 05/15/2027 ^(A)		846,000		847,111
Dana Financing Luxembourg SARL
5.75%, 04/15/2025 ^(A)		705,000		701,276
Dana, Inc.
4.25%, 09/01/2030 ^(B)		76,000		67,172
4.50%, 02/15/2032		889,000		767,859
5.63%, 06/15/2028 ^(B)		218,000		212,762
Goodyear Tire & Rubber Co.
4.88%, 03/15/2027 ^(B)		361,000		348,841
5.00%, 05/31/2026 ^(B)		512,000		501,064
5.00%, 07/15/2029		434,000		405,199
9.50%, 05/31/2025		766,000		772,598
ZF North America Capital, Inc.
4.75%, 04/29/2025 ^(A)		635,000		627,181
6.88%, 04/14/2028 ^(A)		435,000		451,182
7.13%, 04/14/2030 ^(A)		303,000		319,281

				7,273,257

Automobiles - 1.7%
Ford Motor Co.
6.10%, 08/19/2032 ^(B)		140,000		142,095
Ford Motor Credit Co. LLC
2.70%, 08/10/2026		245,000		228,457
3.38%, 11/13/2025		627,000		603,332
4.00%, 11/13/2030		625,000		558,413
4.39%, 01/08/2026		676,000		659,490
4.95%, 05/28/2027		693,000		676,211
6.95%, 03/06/2026		541,000		551,428
7.35%, 11/04/2027 - 03/06/2030		973,000		1,032,438

				4,451,864

Banks - 2.6%
Barclays PLC
Fixed until 11/02/2025, 7.33% ^(C), 11/02/2026		600,000		614,808
Citigroup, Inc.
Fixed until 12/10/2025 ^(D), 4.00% ^(C)		207,000		198,474
Fixed until 09/12/2024 ^(D), 5.00% ^(B) ^(C)		1,116,000		1,109,181
Deutsche Bank AG
Fixed until 10/14/2030, 3.73% ^(C), 01/14/2032		699,000		589,197
Fixed until 11/10/2032, 7.08% ^(C), 02/10/2034		465,000		478,610


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Banks (continued)
Intesa Sanpaolo SpA
Fixed until 06/01/2031, 4.20% ^(C), 06/01/2032 ^(A)		$ 972,000		$ 814,676
5.71%, 01/15/2026 ^(A)		651,000		645,408
7.00%, 11/21/2025 ^(A)		200,000		203,683
Fixed until 11/21/2032, 8.25% ^(C), 11/21/2033 ^(A)		411,000		459,740
JPMorgan Chase & Co.
Fixed until 02/01/2025^(D), 4.60% ^(C)		926,000		910,063
Lloyds Banking Group PLC
Fixed until 06/27/2024 ^(D), 7.50% ^(C)		419,000		416,104
Fixed until 08/15/2032, 7.95% ^(C), 11/15/2033		200,000		225,165

				6,665,109

Beverages - 0.6%
Primo Water Holdings, Inc.
4.38%, 04/30/2029 ^{(A) (B)}		1,665,000		1,531,231

Building Products - 2.1%
Boise Cascade Co.
4.88%, 07/01/2030 ^(A)		1,383,000		1,284,430
Builders FirstSource, Inc.
4.25%, 02/01/2032 ^(A)		1,305,000		1,170,578
5.00%, 03/01/2030 ^(A)		212,000		202,579
6.38%, 06/15/2032 ^(A)		461,000		467,746
Camelot Return Merger Sub, Inc.
8.75%, 08/01/2028 ^(A)		870,000		893,326
Cornerstone Building Brands, Inc.
6.13%, 01/15/2029 ^(A)		448,000		399,326
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
6.63%, 12/15/2030 ^(A)		881,000		889,720

				5,307,705

Capital Markets - 0.3%
LPL Holdings, Inc.
4.00%, 03/15/2029 ^(A)		677,000		622,720
4.63%, 11/15/2027 ^(A)		180,000		172,636

				795,356

Chemicals - 1.7%
ASP Unifrax Holdings, Inc.
5.25%, 09/30/2028 ^(A)		368,000		240,263
Avient Corp.
7.13%, 08/01/2030 ^(A)		279,000		286,890
Eagle Intermediate Global Holding BV/Eagle US Finance LLC
7.50%, 05/01/2025 ^(A)		836,000		533,992
NOVA Chemicals Corp.
4.25%, 05/15/2029 ^(A)		364,000		311,503
4.88%, 06/01/2024 ^(A)		282,000		280,865
5.25%, 06/01/2027 ^(A)		1,262,000		1,189,003
Olin Corp.
5.00%, 02/01/2030 ^(B)		538,000		510,688
5.13%, 09/15/2027		427,000		417,119
5.63%, 08/01/2029 ^(B)		470,000		464,061
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc.
5.13%, 04/01/2029 ^(A)		668,000		193,720

				4,428,104

Commercial Services & Supplies - 4.4%
Allied Universal Holdco LLC
7.88%, 02/15/2031 ^(A)		1,156,000		1,171,081


Transamerica Series Trust			Page 1

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Commercial Services & Supplies (continued)
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
5.75%, 07/15/2027^(A)		$ 738,000		$ 714,397
8.00%, 02/15/2031^{(A) (B)}		1,250,000		1,247,714
Benteler International AG
10.50%, 05/15/2028 ^(A)		760,000		821,702
Covanta Holding Corp.
4.88%, 12/01/2029 ^(A)		501,000		448,942
5.00%, 09/01/2030		458,000		403,457
Garda World Security Corp.
6.00%, 06/01/2029^{(A) (B)}		640,000		571,886
9.50%, 11/01/2027 ^(A)		299,000		299,719
GFL Environmental, Inc.
6.75%, 01/15/2031 ^(A)		355,000		363,948
Herc Holdings, Inc.
5.50%, 07/15/2027 ^(A)		1,702,000		1,671,517
Hertz Corp.
4.63%, 12/01/2026 ^(A)		69,000		62,638
5.00%, 12/01/2029^{(A) (B)}		1,376,000		1,060,553
United Rentals North America, Inc.
3.75%, 01/15/2032		395,000		344,886
4.00%, 07/15/2030		707,000		643,352
5.50%, 05/15/2027		77,000		76,744
6.00%, 12/15/2029 ^(A)		802,000		807,402
WW International, Inc.
4.50%, 04/15/2029 ^(A)		1,178,000		463,614

				11,173,552

Communications Equipment - 0.3%
CommScope, Inc.
4.75%, 09/01/2029 ^(A)		726,000		519,090
8.25%, 03/01/2027 ^(A)		620,000		289,081

				808,171

Construction & Engineering - 1.9%
Ashton Woods USA LLC/Ashton Woods Finance Co.
4.63%, 08/01/2029^(A)		202,000		186,391
6.63%, 01/15/2028 ^(A)		830,000		832,686
Beazer Homes USA, Inc.
5.88%, 10/15/2027		396,000		390,513
7.25%, 10/15/2029		783,000		793,380
7.50%, 03/15/2031^(A)		743,000		750,569
Century Communities, Inc.
6.75%, 06/01/2027		999,000		1,005,178
KB Home
7.25%, 07/15/2030		326,000		337,367
Landsea Homes Corp.
8.88%, 04/01/2029^{(A) (E)}		531,000		528,303
Meritage Homes Corp.
6.00%, 06/01/2025^(B)		89,000		88,901

				4,913,288

Construction Materials - 1.2%
Smyrna Ready Mix Concrete LLC
6.00%, 11/01/2028 ^(A)		1,006,000		985,275
8.88%, 11/15/2031 ^(A)		1,654,000		1,767,945
Summit Materials LLC/Summit Materials Finance Corp.
7.25%, 01/15/2031 ^(A)		215,000		223,517

				2,976,737

Consumer Staples Distribution & Retail - 1.0%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP
3.50%, 03/15/2029 ^(A)		952,000		854,872
4.63%, 01/15/2027 ^(A)		791,000		765,839


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Consumer Staples Distribution & Retail (continued)
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP (continued)
6.50%, 02/15/2028 ^(A)		$ 858,000		$ 867,016
7.50%, 03/15/2026 ^(A)		155,000		157,703

				2,645,430

Containers & Packaging - 6.1%
ARD Finance SA
PIK Rate 7.25%, Cash Rate 6.50%, 06/30/2027 ^(A) (F)		472,000		157,952
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.25%, 09/01/2028^{(A) (B)}		442,000		381,879
4.00%, 09/01/2029^{(A) (B)}		873,000		704,243
6.00%, 06/15/2027^(A)		275,000		267,139
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
5.25%, 08/15/2027^{(A) (B)}		889,000		560,070
Ball Corp.
2.88%, 08/15/2030		1,547,000		1,319,903
6.00%, 06/15/2029		57,000		57,553
6.88%, 03/15/2028		709,000		728,844
Cascades, Inc./Cascades USA, Inc.
5.13%, 01/15/2026^{(A) (B)}		200,000		196,704
5.38%, 01/15/2028^{(A) (B)}		538,000		516,556
Clydesdale Acquisition Holdings, Inc.
6.63%, 04/15/2029^(A)		1,005,000		1,005,457
Crown Americas LLC/Crown Americas Capital Corp. VI
4.75%, 02/01/2026		1,788,000		1,759,018
Graphic Packaging International LLC
3.50%, 03/15/2028 - 03/01/2029 ^(A)		1,087,000		996,621
3.75%, 02/01/2030 ^(A)		404,000		359,287
4.13%, 08/15/2024		312,000		309,348
Mauser Packaging Solutions Holding Co.
7.88%, 08/15/2026 ^(A)		466,000		474,825
9.25%, 04/15/2027 ^(A)		148,000		146,746
OI European Group BV
4.75%, 02/15/2030 ^(A)		353,000		324,907
Owens-Brockway Glass Container, Inc.
6.38%, 08/15/2025 ^(A)		214,000		215,079
7.25%, 05/15/2031 ^{(A) (B)}		439,000		447,085
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.
4.38%, 10/15/2028 ^(A)		38,000		35,455
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC
4.00%, 10/15/2027 ^{(A) (B)}		1,527,000		1,424,072
Sealed Air Corp.
5.50%, 09/15/2025 ^(A)		125,000		124,533
6.88%, 07/15/2033 ^(A)		887,000		924,959
Sealed Air Corp./Sealed Air Corp. US
6.13%, 02/01/2028 ^(A)		364,000		364,973
7.25%, 02/15/2031 ^(A)		553,000		574,938
Trivium Packaging Finance BV
5.50%, 08/15/2026 ^(A)		828,000		816,087
8.50%, 08/15/2027 ^(A)		345,000		340,664

				15,534,897

Diversified REITs - 0.8%
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/2026 ^(A)		1,044,000		983,478
6.00%, 04/15/2025 ^{(A) (B)}		199,000		198,194


Transamerica Series Trust			Page 2

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Diversified REITs (continued)
HAT Holdings I LLC/HAT Holdings II LLC (continued)
8.00%, 06/15/2027 ^(A)		$ 418,000		$ 435,831
Iron Mountain Information Management Services, Inc.
5.00%, 07/15/2032 ^(A)		505,000		462,178

				2,079,681

Diversified Telecommunication Services - 1.6%
Iliad Holding SASU
6.50%, 10/15/2026 ^(A)		459,000		454,823
7.00%, 10/15/2028 ^(A)		534,000		528,395
Level 3 Financing, Inc.
3.63%, 01/15/2029 ^(A)		418,000		187,001
3.75%, 07/15/2029 ^(A)		1,290,000		576,811
4.25%, 07/01/2028 ^(A)		924,000		442,855
10.50%, 05/15/2030 ^{(A) (B)}		1,070,000		1,094,075
Telecom Italia Capital SA
6.00%, 09/30/2034		412,000		376,588
6.38%, 11/15/2033		499,000		471,433

				4,131,981

Electric Utilities - 0.5%
Elwood Energy LLC
8.16%, 07/05/2026		161,350		132,508
Vistra Operations Co. LLC
4.38%, 05/01/2029 ^(A)		267,000		247,338
5.00%, 07/31/2027 ^(A)		771,000		746,621
5.63%, 02/15/2027 ^(A)		69,000		67,946

				1,194,413

Electrical Equipment - 1.0%
Energizer Holdings, Inc.
4.38%, 03/31/2029 ^{(A) (B)}		502,000		450,812
6.50%, 12/31/2027 ^{(A) (B)}		710,000		706,183
WESCO Distribution, Inc.
6.38%, 03/15/2029^(A)		572,000		577,922
6.63%, 03/15/2032^(A)		195,000		198,229
7.13%, 06/15/2025^(A)		626,000		626,640

				2,559,786

Electronic Equipment, Instruments & Components - 0.3%
Sensata Technologies BV
4.00%, 04/15/2029^{(A) (B)}		412,000		376,209
Sensata Technologies, Inc.
3.75%, 02/15/2031^(A)		66,000		57,073
4.38%, 02/15/2030^(A)		301,000		273,976

				707,258

Energy Equipment & Services - 1.2%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/2028 ^(A)		788,000		779,450
CSI Compressco LP/CSI Compressco Finance, Inc.
PIK Rate 3.50%, Cash Rate 10.00%, 04/01/2026 ^(A) (F)		652,549		685,176
7.50%, 04/01/2025 ^(A)		730,000		730,000
Sunnova Energy Corp.
5.88%, 09/01/2026 ^{(A) (B)}		592,000		462,469
11.75%, 10/01/2028 ^{(A) (B)}		579,000		450,973

				3,108,068

Financial Services - 2.0%
Ally Financial, Inc.
Fixed until 06/13/2028, 6.99% ^(C), 06/13/2029		636,000		659,653


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Financial Services (continued)
ILFC E-Capital Trust I
3-Month Term SOFR + 1.81%, 7.14% ^(C), 12/21/2065 ^(A)		$ 2,322,000		$ 1,813,679
ILFC E-Capital Trust II
3-Month Term SOFR + 2.06%, 7.39% ^(C), 12/21/2065 ^(A)		959,000		765,318
Macquarie Airfinance Holdings Ltd.
6.40%, 03/26/2029^(A)		155,000		157,429
6.50%, 03/26/2031^(A)		65,000		66,173
8.13%, 03/30/2029^(A)		964,000		1,019,491
United Wholesale Mortgage LLC
5.50%, 04/15/2029^(A)		291,000		275,304
5.75%, 06/15/2027^(A)		466,000		453,195

				5,210,242

Food Products - 1.5%
Chobani LLC/Chobani Finance Corp., Inc.
7.63%, 07/01/2029 ^(A)		513,000		518,825
Darling Ingredients, Inc.
5.25%, 04/15/2027 ^(A)		210,000		206,258
6.00%, 06/15/2030 ^(A)		117,000		115,970
Kraft Heinz Foods Co.
5.00%, 06/04/2042		329,000		308,172
6.88%, 01/26/2039		180,000		203,515
Post Holdings, Inc.
4.50%, 09/15/2031 ^(A)		339,000		304,960
4.63%, 04/15/2030 ^(A)		713,000		655,228
5.50%, 12/15/2029 ^(A)		973,000		940,563
5.63%, 01/15/2028 ^{(A) (B)}		361,000		354,536
6.25%, 02/15/2032 ^(A)		331,000		333,418

				3,941,445

Health Care Equipment & Supplies - 0.8%
Kedrion SpA
6.50%, 09/01/2029 ^{(A) (B)}		776,000		705,384
Medline Borrower LP
3.88%, 04/01/2029 ^(A)		1,076,000		980,464
Medline Borrower LP/Medline Co-Issuer, Inc.
6.25%, 04/01/2029 ^(A)		220,000		221,183

				1,907,031

Health Care Providers & Services - 4.7%
Acadia Healthcare Co., Inc.
5.00%, 04/15/2029 ^(A)		1,035,000		984,486
AdaptHealth LLC
4.63%, 08/01/2029 ^(A)		66,000		56,784
5.13%, 03/01/2030 ^{(A) (B)}		150,000		130,789
6.13%, 08/01/2028 ^(A)		1,077,000		1,011,432
CHS/Community Health Systems, Inc.
5.25%, 05/15/2030 ^(A)		853,000		695,590
5.63%, 03/15/2027 ^(A)		319,000		293,325
6.88%, 04/15/2029 ^{(A) (B)}		63,000		47,217
8.00%, 03/15/2026 ^(A)		311,000		310,512
DaVita, Inc.
3.75%, 02/15/2031 ^(A)		1,288,000		1,078,231
4.63%, 06/01/2030 ^(A)		838,000		750,328
Encompass Health Corp.
4.50%, 02/01/2028		603,000		574,248
4.63%, 04/01/2031		60,000		54,543
4.75%, 02/01/2030		218,000		204,193
5.75%, 09/15/2025		1,004,000		1,001,261
HCA, Inc.
5.88%, 02/01/2029		182,000		186,150


Transamerica Series Trust			Page 3

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Health Care Providers & Services (continued)
Heartland Dental LLC/Heartland Dental Finance Corp.
10.50%, 04/30/2028 ^(A)		$ 601,000		$ 638,562
Molina Healthcare, Inc.
4.38%, 06/15/2028 ^(A)		922,000		866,703
Tenet Healthcare Corp.
4.25%, 06/01/2029		807,000		750,193
4.63%, 06/15/2028		28,000		26,658
5.13%, 11/01/2027		647,000		632,868
6.13%, 10/01/2028 ^(B)		1,201,000		1,198,121
6.13%, 06/15/2030		451,000		449,959

				11,942,153

Health Care REITs - 0.2%
MPT Operating Partnership LP/MPT Finance Corp.
3.50%, 03/15/2031 ^(B)		879,000		606,033

Hotel & Resort REITs - 0.5%
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
5.88%, 10/01/2028 ^(A)		392,000		384,086
7.50%, 06/01/2025 ^(A)		875,000		876,750

				1,260,836

Hotels, Restaurants & Leisure - 10.6%
1011778 BC ULC/New Red Finance, Inc.
3.88%, 01/15/2028 ^(A)		242,000		227,464
4.00%, 10/15/2030 ^(A)		636,000		565,556
Boyne USA, Inc.
4.75%, 05/15/2029 ^(A)		1,131,000		1,048,106
Caesars Entertainment, Inc.
4.63%, 10/15/2029^{(A) (B)}		661,000		602,653
6.50%, 02/15/2032 ^(A)		335,000		338,121
7.00%, 02/15/2030 ^(A)		77,000		79,023
Carnival Corp.
6.00%, 05/01/2029 ^(A)		1,423,000		1,403,498
7.00%, 08/15/2029^{(A) (B)}		109,000		113,714
7.63%, 03/01/2026 ^(A)		192,000		194,388
10.50%, 06/01/2030 ^(A)		412,000		450,650
Carnival Holdings Bermuda Ltd.
10.38%, 05/01/2028 ^(A)		332,000		362,241
Churchill Downs, Inc.
5.75%, 04/01/2030 ^(A)		912,000		882,220
6.75%, 05/01/2031 ^(A)		441,000		443,501
Hilton Domestic Operating Co., Inc.
4.88%, 01/15/2030		622,000		596,393
5.38%, 05/01/2025 ^(A)		37,000		36,875
5.75%, 05/01/2028 ^(A)		69,000		68,919
5.88%, 04/01/2029 ^(A)		81,000		81,132
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.
4.88%, 07/01/2031 ^(A)		944,000		845,265
5.00%, 06/01/2029 ^(A)		453,000		422,815
International Game Technology PLC
4.13%, 04/15/2026 ^(A)		227,000		220,096
5.25%, 01/15/2029 ^(A)		217,000		209,671
6.25%, 01/15/2027 ^(A)		214,000		215,558
6.50%, 02/15/2025 ^(A)		434,000		435,557
Light & Wonder International, Inc.
7.00%, 05/15/2028 ^(A)		731,000		736,794
7.50%, 09/01/2031^(A)		928,000		965,731


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Hotels, Restaurants & Leisure (continued)
MGM Resorts International
4.63%, 09/01/2026		$ 341,000		$ 333,602
4.75%, 10/15/2028 ^(B)		633,000		601,916
5.50%, 04/15/2027 ^(B)		924,000		916,187
5.75%, 06/15/2025 ^(B)		649,000		648,331
6.50%, 04/15/2032 ^(E)		806,000		803,033
6.75%, 05/01/2025		556,000		555,646
NCL Corp. Ltd.
5.88%, 03/15/2026 - 02/15/2027 ^(A)		1,614,000		1,593,123
8.13%, 01/15/2029 ^(A)		383,000		405,145
Royal Caribbean Cruises Ltd.
5.38%, 07/15/2027 ^(A)		500,000		492,875
5.50%, 04/01/2028 ^(A)		412,000		407,186
6.25%, 03/15/2032 ^(A)		171,000		172,458
8.25%, 01/15/2029 ^(A)		279,000		295,418
Scientific Games Holdings LP/Scientific Games US FinCo, Inc.
6.63%, 03/01/2030 ^(A)		661,000		639,017
Station Casinos LLC
4.50%, 02/15/2028 ^(A)		1,696,000		1,597,719
6.63%, 03/15/2032 ^(A)		404,000		408,215
Travel & Leisure Co.
4.50%, 12/01/2029 ^{(A) (B)}		392,000		360,370
5.65%, 04/01/2024		823,000		823,000
6.00%, 04/01/2027		926,000		925,706
6.60%, 10/01/2025		148,000		149,069
Viking Cruises Ltd.
5.88%, 09/15/2027 ^{(A) (B)}		1,374,000		1,348,475
7.00%, 02/15/2029 ^{(A) (B)}		710,000		712,871
9.13%, 07/15/2031 ^(A)		251,000		274,691
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
7.13%, 02/15/2031 ^(A)		1,155,000		1,195,380

				27,205,374

Household Products - 0.3%
Central Garden & Pet Co.
4.13%, 04/30/2031 ^(A)		738,000		650,543

Independent Power & Renewable Electricity Producers - 1.5%
Calpine Corp.
3.75%, 03/01/2031 ^(A)		581,000		509,542
4.50%, 02/15/2028 ^(A)		753,000		714,450
5.00%, 02/01/2031 ^(A)		140,000		128,408
5.13%, 03/15/2028 ^(A)		472,000		453,035
5.25%, 06/01/2026 ^(A)		700,000		692,720
Clearway Energy Operating LLC
3.75%, 02/15/2031 ^(A)		360,000		308,935
4.75%, 03/15/2028 ^(A)		583,000		554,216
NRG Energy, Inc.
3.38%, 02/15/2029 ^(A)		193,000		171,436
3.63%, 02/15/2031 ^(A)		62,000		53,444
3.88%, 02/15/2032 ^(A)		31,000		26,569
5.75%, 01/15/2028		280,000		278,449

				3,891,204

Insurance - 2.3%
Constellation Insurance, Inc.
6.80%, 01/24/2030 ^(A)		1,361,000		1,330,458
Global Atlantic Finance Co.
Fixed until 07/15/2026, 4.70% ^(C), 10/15/2051 ^(A)		732,000		659,837
7.95%, 06/15/2033 ^(A)		623,000		692,525


Transamerica Series Trust			Page 4

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Insurance (continued)
Hartford Financial Services Group, Inc.
3-Month Term SOFR + 2.39%, 7.69% ^(C), 02/12/2067 ^(A)		$ 1,028,000		$ 914,503
HUB International Ltd.
7.25%, 06/15/2030^(A)		370,000		380,368
7.38%, 01/31/2032^(A)		210,000		211,414
Lincoln National Corp.
3-Month Term SOFR + 2.62%, 7.94% ^(C), 05/17/2066		1,057,000		845,815
Panther Escrow Issuer LLC
7.13%, 06/01/2031^{(A) (E)}		895,000		910,868

				5,945,788

Internet & Catalog Retail - 0.9%
Uber Technologies, Inc.
4.50%, 08/15/2029 ^(A)		496,000		470,545
6.25%, 01/15/2028 ^(A)		59,000		59,243
7.50%, 09/15/2027 ^(A)		883,000		904,119
8.00%, 11/01/2026 ^(A)		907,000		917,927

				2,351,834

IT Services - 0.4%
Conduent Business Services LLC/Conduent State & Local Solutions, Inc.
6.00%, 11/01/2029 ^(A)		1,032,000		933,933

Leisure Products - 0.4%
Amer Sports Co.
6.75%, 02/16/2031 ^(A)		892,000		891,087

Machinery - 2.1%
Advanced Drainage Systems, Inc.
5.00%, 09/30/2027^(A)		217,000		210,510
6.38%, 06/15/2030^(A)		238,000		239,262
Chart Industries, Inc.
7.50%, 01/01/2030^(A)		1,247,000		1,295,275
GrafTech Global Enterprises, Inc.
9.88%, 12/15/2028^{(A) (B)}		239,000		176,909
Madison IAQ LLC
4.13%, 06/30/2028^(A)		494,000		457,074
5.88%, 06/30/2029^(A)		793,000		725,835
SPX Flow, Inc.
8.75%, 04/01/2030 ^{(A) (B)}		1,274,000		1,286,830
Wabash National Corp.
4.50%, 10/15/2028^(A)		988,000		906,252

				5,297,947

Media - 8.6%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.25%, 02/01/2031 - 01/15/2034 ^(A)		846,000		653,012
4.50%, 08/15/2030 - 06/01/2033 ^(A)		934,000		752,380
4.50%, 05/01/2032		698,000		560,607
4.75%, 03/01/2030 - 02/01/2032 ^(A)		1,775,000		1,492,544
5.00%, 02/01/2028^(A)		423,000		393,916
5.38%, 06/01/2029^(A)		290,000		265,378
5.50%, 05/01/2026^{(A) (B)}		348,000		342,742
Clear Channel Outdoor Holdings, Inc.
7.50%, 06/01/2029^{(A) (B)}		61,000		50,465
7.75%, 04/15/2028^{(A) (B)}		244,000		213,614
9.00%, 09/15/2028^(A)		699,000		728,663
CSC Holdings LLC
4.13%, 12/01/2030^(A)		248,000		177,258
4.50%, 11/15/2031^(A)		662,000		468,608


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Media (continued)
CSC Holdings LLC (continued)
5.38%, 02/01/2028^(A)		$ 400,000		$ 344,734
5.75%, 01/15/2030^(A)		2,580,000		1,365,868
6.50%, 02/01/2029^(A)		460,000		390,060
7.50%, 04/01/2028^(A)		500,000		337,151
11.75%, 01/31/2029^(A)		200,000		200,283
DISH DBS Corp.
5.25%, 12/01/2026^(A)		173,000		136,119
5.75%, 12/01/2028^(A)		455,000		312,786
7.38%, 07/01/2028		360,000		171,900
7.75%, 07/01/2026		218,000		145,883
DISH Network Corp.
11.75%, 11/15/2027^(A)		354,000		360,570
Gray Television, Inc.
4.75%, 10/15/2030^{(A) (B)}		662,000		434,379
5.38%, 11/15/2031^{(A) (B)}		1,156,000		758,208
7.00%, 05/15/2027^{(A) (B)}		260,000		242,084
iHeartCommunications, Inc.
5.25%, 08/15/2027^{(A) (B)}		564,000		411,078
6.38%, 05/01/2026		495,000		421,887
8.38%, 05/01/2027		1,147,386		640,836
LCPR Senior Secured Financing DAC
5.13%, 07/15/2029^(A)		1,506,000		1,261,576
6.75%, 10/15/2027^(A)		816,000		765,794
Sirius XM Radio, Inc.
3.13%, 09/01/2026^(A)		211,000		197,700
4.13%, 07/01/2030^(A)		1,015,000		887,209
5.00%, 08/01/2027^(A)		31,000		29,828
5.50%, 07/01/2029^(A)		373,000		355,229
TEGNA, Inc.
4.63%, 03/15/2028		481,000		439,937
4.75%, 03/15/2026^(A)		244,000		239,192
Univision Communications, Inc.
6.63%, 06/01/2027^(A)		796,000		779,265
7.38%, 06/30/2030^{(A) (B)}		93,000		91,887
8.00%, 08/15/2028^(A)		272,000		277,107
Virgin Media Finance PLC
5.00%, 07/15/2030^(A)		647,000		546,916
Virgin Media Secured Finance PLC
5.50%, 05/15/2029^(A)		1,139,000		1,053,399
VZ Secured Financing BV
5.00%, 01/15/2032^(A)		2,548,000		2,187,392

				21,885,444

Metals & Mining - 5.1%
Big River Steel LLC/BRS Finance Corp.
6.63%, 01/31/2029 ^(A)		1,137,000		1,143,366
Cleveland-Cliffs, Inc.
7.00%, 03/15/2032^{(A) (B)}		775,000		785,911
Constellium SE
5.63%, 06/15/2028^(A)		1,025,000		996,520
5.88%, 02/15/2026 ^(A)		1,818,000		1,805,527
Enviri Corp.
5.75%, 07/31/2027 ^(A)		1,424,000		1,340,784
FMG Resources August 2006 Pty. Ltd.
5.88%, 04/15/2030^(A)		718,000		706,498
6.13%, 04/15/2032^(A)		698,000		690,341
Freeport-McMoRan, Inc.
4.13%, 03/01/2028		526,000		502,602
4.38%, 08/01/2028		512,000		491,915
Mineral Resources Ltd.
8.13%, 05/01/2027^(A)		872,000		882,093
8.50%, 05/01/2030^(A)		988,000		1,018,404
9.25%, 10/01/2028^(A)		99,000		104,169
New Gold, Inc.
7.50%, 07/15/2027^(A)		1,032,000		1,034,332


Transamerica Series Trust			Page 5

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Metals & Mining (continued)
Novelis Corp.
3.25%, 11/15/2026^(A)		$ 70,000		$ 65,224
3.88%, 08/15/2031^(A)		71,000		60,996
4.75%, 01/30/2030^(A)		1,620,000		1,495,381

				13,124,063

Mortgage Real Estate Investment Trusts - 0.4%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/2027^(A)		364,000		340,660
5.25%, 10/01/2025^(A)		632,000		620,677

				961,337

Oil, Gas & Consumable Fuels - 12.0%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 06/15/2029^(A)		690,000		663,496
6.63%, 02/01/2032^(A)		320,000		321,633
7.88%, 05/15/2026^(A)		810,000		826,900
Callon Petroleum Co.
6.38%, 07/01/2026		180,000		181,913
7.50%, 06/15/2030^(A)		423,000		447,323
8.00%, 08/01/2028^(A)		219,000		228,855
Chord Energy Corp.
6.38%, 06/01/2026^(A)		764,000		767,115
Civitas Resources, Inc.
5.00%, 10/15/2026^(A)		424,000		414,928
8.63%, 11/01/2030^(A)		28,000		30,067
8.75%, 07/01/2031^(A)		940,000		1,005,841
Comstock Resources, Inc.
5.88%, 01/15/2030^(A)		619,000		560,748
CrownRock LP/CrownRock Finance, Inc.
5.00%, 05/01/2029^(A)		17,000		16,789
5.63%, 10/15/2025^(A)		1,849,000		1,844,913
DCP Midstream Operating LP
5.38%, 07/15/2025		600,000		597,772
DT Midstream, Inc.
4.13%, 06/15/2029^(A)		392,000		360,380
4.38%, 06/15/2031^(A)		122,000		110,501
Energy Transfer LP
8.00%, 04/01/2029^(A)		1,125,000		1,166,418
EnLink Midstream LLC
6.50%, 09/01/2030^(A)		435,000		447,369
EQM Midstream Partners LP
6.00%, 07/01/2025^(A)		59,000		59,059
6.38%, 04/01/2029^(A)		769,000		775,301
6.50%, 07/01/2027^(A)		366,000		369,213
Genesis Energy LP/Genesis Energy Finance Corp.
8.25%, 01/15/2029^(B)		37,000		37,987
8.88%, 04/15/2030		407,000		425,990
Hess Midstream Operations LP
4.25%, 02/15/2030^(A)		31,000		28,482
5.13%, 06/15/2028^(A)		657,000		635,220
HF Sinclair Corp.
6.38%, 04/15/2027^(A)		678,000		682,298
Ithaca Energy North Sea PLC
9.00%, 07/15/2026^{(A) (B)}		875,000		884,167
Kinder Morgan, Inc.
7.75%, 01/15/2032		245,000		278,045
8.05%, 10/15/2030		134,000		152,600
Matador Resources Co.
6.50%, 04/15/2032^{(A) (E)}		184,000		184,534
Moss Creek Resources Holdings, Inc.
7.50%, 01/15/2026^(A)		115,000		114,913
10.50%, 05/15/2027^(A)		507,000		522,899


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Oil, Gas & Consumable Fuels (continued)
NuStar Logistics LP
5.63%, 04/28/2027		$ 742,000		$ 733,927
5.75%, 10/01/2025		115,000		114,430
6.00%, 06/01/2026		111,000		110,495
Occidental Petroleum Corp.
6.13%, 01/01/2031		79,000		81,813
6.45%, 09/15/2036		1,194,000		1,273,519
6.63%, 09/01/2030		899,000		951,169
7.15%, 05/15/2028		433,000		455,096
Ovintiv, Inc.
7.38%, 11/01/2031		276,000		302,657
Parkland Corp.
4.50%, 10/01/2029^(A)		341,000		315,446
4.63%, 05/01/2030^(A)		77,000		71,088
5.88%, 07/15/2027^(A)		531,000		526,425
PBF Holding Co. LLC/PBF Finance Corp.
7.88%, 09/15/2030^(A)		687,000		713,727
Permian Resources Operating LLC
7.00%, 01/15/2032^(A)		979,000		1,015,607
SM Energy Co.
5.63%, 06/01/2025^(B)		299,000		297,593
6.50%, 07/15/2028^(B)		77,000		77,322
6.63%, 01/15/2027		832,000		831,216
6.75%, 09/15/2026		222,000		222,205
Southwestern Energy Co.
4.75%, 02/01/2032		286,000		263,249
5.38%, 03/15/2030		540,000		519,639
Summit Midstream Holdings LLC/Summit Midstream Finance Corp.
9.00%^(G), 10/15/2026^(A)		340,000		343,901
Summit Midstream Partners LP
Fixed until 05/01/2023 ^(D), 13.02% ^(C)		672,000		698,880
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.88%, 02/01/2031		145,000		138,709
5.00%, 01/15/2028		150,000		147,513
5.50%, 03/01/2030		716,000		712,604
6.50%, 07/15/2027		255,000		257,820
Venture Global LNG, Inc.
9.50%, 02/01/2029 ^(A)		959,000		1,033,100
9.88%, 02/01/2032 ^(A)		1,090,000		1,174,811
Vital Energy, Inc.
9.75%, 10/15/2030		530,000		579,515
10.13%, 01/15/2028		438,000		459,735
Western Midstream Operating LP
5.30%, 03/01/2048		1,122,000		975,829
5.45%, 04/01/2044		251,000		230,703

				30,773,412

Paper & Forest Products - 0.7%
Domtar Corp.
6.75%, 10/01/2028^(A)		970,000		880,248
Glatfelter Corp.
4.75%, 11/15/2029^{(A) (B)}		1,171,000		997,754

				1,878,002

Personal Care Products - 0.6%
Coty, Inc.
5.00%, 04/15/2026^(A)		582,000		573,557
6.50%, 04/15/2026^(A)		791,000		792,283
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC
6.63%, 07/15/2030 ^(A)		243,000		246,763

				1,612,603


Transamerica Series Trust			Page 6

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Pharmaceuticals - 1.0%
Bausch Health Americas, Inc.
8.50%, 01/31/2027 ^(A)		$ 532,000		$ 312,679
Bausch Health Cos., Inc.
5.00%, 01/30/2028 - 02/15/2029 ^(A)		574,000		242,672
5.25%, 01/30/2030 - 02/15/2031 ^(A)		619,000		255,667
7.00%, 01/15/2028 ^(A)		161,000		71,766
Grifols SA
4.75%, 10/15/2028 ^{(A) (B)}		613,000		507,227
Organon & Co./Organon Foreign Debt Co-Issuer BV
4.13%, 04/30/2028 ^(A)		685,000		638,519
5.13%, 04/30/2031 ^(A)		453,000		401,329

				2,429,859

Professional Services - 0.3%
Gartner, Inc.
3.63%, 06/15/2029 ^(A)		273,000		246,992
3.75%, 10/01/2030 ^(A)		211,000		188,895
4.50%, 07/01/2028 ^(A)		451,000		429,659

				865,546

Real Estate Management & Development - 0.3%
Cushman & Wakefield US Borrower LLC
6.75%, 05/15/2028 ^{(A) (B)}		510,000		503,631
8.88%, 09/01/2031 ^{(A) (B)}		351,000		371,018

				874,649

Software - 1.6%
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.
8.00%, 06/15/2029 ^(A)		819,000		848,825
Crowdstrike Holdings, Inc.
3.00%, 02/15/2029		829,000		735,138
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL
4.63%, 05/01/2028 ^(A)		813,000		729,485
MSCI, Inc.
3.63%, 09/01/2030 ^(A)		986,000		874,747
Rackspace Technology Global, Inc.
3.50%, 02/15/2028 ^(A)		511,000		176,634
UKG, Inc.
6.88%, 02/01/2031 ^(A)		620,000		631,616

				3,996,445

Specialized REITs - 1.0%
Iron Mountain, Inc.
4.50%, 02/15/2031 ^(A)		183,000		165,140
5.25%, 03/15/2028 ^(A)		994,000		961,800
7.00%, 02/15/2029 ^(A)		346,000		352,455
VICI Properties LP/VICI Note Co., Inc.
3.88%, 02/15/2029 ^(A)		319,000		293,620
4.63%, 06/15/2025 ^(A)		182,000		179,209
5.75%, 02/01/2027 ^(A)		480,000		479,434

				2,431,658

Specialty Retail - 0.7%
Bath & Body Works, Inc.
6.63%, 10/01/2030 ^{(A) (B)}		236,000		241,116
6.75%, 07/01/2036		497,000		501,962
6.88%, 11/01/2035		325,000		332,458
7.50%, 06/15/2029 ^(B)		549,000		570,612
9.38%, 07/01/2025 ^(A)		56,000		58,428

				1,704,576


	Principal		Value
CORPORATE DEBT SECURITIES (continued)
Technology Hardware, Storage & Peripherals - 1.0%
NCR Voyix Corp.
5.00%, 10/01/2028 ^(A)		$ 329,000		$ 306,447
5.13%, 04/15/2029 ^(A)		1,105,000		1,024,804
5.25%, 10/01/2030 ^(A)		481,000		435,169
Western Digital Corp.
4.75%, 02/15/2026		774,000		756,500

				2,522,920

Wireless Telecommunication Services - 1.2%
Altice France SA
8.13%, 02/01/2027 ^{(A) (B)}		416,000		320,870
Sprint LLC
7.13%, 06/15/2024		630,000		630,959
Vmed O2 UK Financing I PLC
4.25%, 01/31/2031^(A)		585,000		493,945
4.75%, 07/15/2031^(A)		1,029,000		887,381
7.75%, 04/15/2032^{(A) (E)}		776,000		777,940

				3,111,095

Total Corporate Debt Securities (Cost $254,912,100)				245,834,358


LOAN ASSIGNMENTS - 1.9%
Automobile Components - 0.2%
Clarios Global LP
Term Loan B,
1-Month Term SOFR + 3.00%, 8.33%^(C), 05/06/2030		434,910		435,345

Commercial Services & Supplies - 0.4%
Garda World Security Corp.
Term Loan B,
3-Month Term SOFR + 4.25%, 9.58%^(C), 02/01/2029		895,000		895,373

Containers & Packaging - 0.5%
Anchor Glass Container Corp.
Term Loan,
3-Month Term SOFR + 5.00%, 10.57% - 10.83%^(C), 12/07/2025		879,210		735,239
Reynolds Group Holdings, Inc.
Term Loan B2,
1-Month Term SOFR + 3.25%, 8.69%^(C), 02/05/2026		203,941		204,427
Trident TPI Holdings, Inc.
Term Loan,
3-Month Term SOFR + 4.50%, 9.81% ^(C), 09/15/2028		402,241		402,185

				1,341,851

Hotels, Restaurants & Leisure - 0.3%
Caesars Entertainment, Inc.
Term Loan B1,
3-Month Term SOFR + 2.75%, 8.04% ^(C), 02/06/2031		775,000		774,612

IT Services - 0.0% ^(H)
Rackspace Technology Global, Inc.
1st Lien Term Loan,
3-Month Term SOFR + 6.25%, 11.58% ^(C), 05/15/2028		96,027		95,067


Transamerica Series Trust			Page 7

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)


	Principal		Value
LOAN ASSIGNMENTS (continued)
Software - 0.5%
Central Parent, Inc.
Term Loan B,
3-Month Term SOFR + 4.00%, 9.31% ^(C), 07/06/2029		$ 748,492		$ 750,163
UKG, Inc.
Term Loan B,
TBD, 02/10/2031 ^{(E) (I)}		645,000		647,419

				1,397,582

Total Loan Assignments (Cost $4,956,681)				4,939,830


	Shares		Value
COMMON STOCKS - 0.1%
Electric Utilities - 0.0% ^(H)
Homer City Generation LLC ^{(J) (K)}		39,132		391

Oil, Gas & Consumable Fuels - 0.0%
Ultra Resources, Inc. ^{(J) (K) (L)}		123		0

Software - 0.1%
Avaya Holdings Corp. ^{(J) (M)}		33,145		182,298

Total Common Stocks (Cost $2,523,065)				182,689


OTHER INVESTMENT COMPANY - 7.0%
Securities Lending Collateral - 7.0%
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.29% ^(N)		17,925,613		17,925,613

Total Other Investment Company (Cost $17,925,613)				17,925,613


	Principal		Value
REPURCHASE AGREEMENT - 1.5%
Fixed Income Clearing Corp., 2.50%^(N), dated 03/28/2024, to be repurchased at $3,716,070 on 04/01/2024. Collateralized by a U.S. Government Obligation, 4.25%, due 12/31/2025, and with a value of $3,789,374.		$ 3,715,038		3,715,038

Total Repurchase Agreement (Cost $3,715,038)				3,715,038

Total Investments (Cost $284,032,497)				272,597,528
Net Other Assets (Liabilities) - (6.6)%				(16,802,692	)

Net Assets - 100.0%				$ 255,794,836


Transamerica Series Trust			Page 8

Transamerica Aegon High Yield Bond VP

SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

INVESTMENT VALUATION:

Valuation Inputs ^(O)


	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs ^(P)		Value
ASSETS
Investments
Corporate Debt Securities	$	—	$	245,834,358	$	—	$	245,834,358
Loan Assignments		—		4,939,830		—		4,939,830
Common Stocks		—		182,298		391		182,689
Other Investment Company		17,925,613		—		—		17,925,613
Repurchase Agreement		—		3,715,038		—		3,715,038

Total Investments	$	17,925,613	$	254,671,524	$	391	$	272,597,528

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 March 31, 2024, the total value of 144A securities is $188,178,900, representing 73.6% of the Portfolio’s net assets.
(B)		All or a portion of the securities are on loan. The total value of all securities on loan is $24,250,912, collateralized by cash collateral of $17,925,613 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $6,834,805. 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 March 31, 2024. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
(D)		Perpetual maturity. The date displayed is the next call date.
(E)		When-issued, delayed-delivery and/or forward commitment (including TBAs) securities. Securities to be settled and delivered after March 31, 2024. Securities may display a coupon rate of 0.00%, as the rate is to be determined at time of settlement.
(F)		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.
(G)		Step bond. Coupon rate changes in increments to maturity. The rate disclosed is as of March 31, 2024; the maturity date disclosed is the ultimate maturity date.
(H)		Percentage rounds to less than 0.1% or (0.1)%.
(I)		All or a portion of the security represents an unsettled loan commitment at March 31, 2024 where the rate will be determined at time of settlement.
(J)		Non-income producing securities.
(K)		Securities are Level 3 of the fair value hierarchy.
(L)		Security deemed worthless.
(M)		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 $182,298, representing 0.1% of the Portfolio’s net assets.
(N)		Rates disclosed reflect the yields at March 31, 2024.
(O)		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.
(P)		Level 3 securities were not considered significant to the Portfolio.

PORTFOLIO ABBREVIATIONS:


REIT		Real Estate Investment Trust
SOFR		Secured Overnight Financing Rate
TBD		To Be Determined


Transamerica Series Trust			Page 9

Transamerica Aegon High Yield Bond VP

NOTES TO SCHEDULE OF INVESTMENTS

At March 31, 2024

(unaudited)

INVESTMENT VALUATION

Transamerica Aegon High Yield Bond 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:

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.

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.

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.


Transamerica Series Trust			Page 10

Transamerica Aegon High Yield Bond VP

NOTES TO SCHEDULE OF INVESTMENTS (continued)

At March 31, 2024

(unaudited)

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 11