Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS
At March 31, 2024
(unaudited)
Shares | Value | |||||||
COMMON STOCKS - 39.7% | ||||||||
Air Freight & Logistics - 0.4% | ||||||||
United Parcel Service, Inc., Class B | 3,100 | $ 460,753 | ||||||
|
| |||||||
Banks - 3.2% | ||||||||
Bank of America Corp. | 31,500 | 1,194,480 | ||||||
JPMorgan Chase & Co. | 7,150 | 1,432,145 | ||||||
US Bancorp | 31,600 | 1,412,520 | ||||||
|
| |||||||
4,039,145 | ||||||||
|
| |||||||
Beverages - 1.5% | ||||||||
Coca-Cola Co. | 13,300 | 813,694 | ||||||
PepsiCo, Inc. | 6,100 | 1,067,561 | ||||||
|
| |||||||
1,881,255 | ||||||||
|
| |||||||
Capital Markets - 4.8% | ||||||||
BlackRock, Inc. | 1,975 | 1,646,558 | ||||||
CME Group, Inc. | 8,250 | 1,776,142 | ||||||
Morgan Stanley | 19,600 | 1,845,536 | ||||||
Northern Trust Corp. | 8,500 | 755,820 | ||||||
|
| |||||||
6,024,056 | ||||||||
|
| |||||||
Chemicals - 0.7% | ||||||||
Air Products & Chemicals, Inc. | 3,650 | 884,286 | ||||||
|
| |||||||
Communications Equipment - 0.4% | ||||||||
Cisco Systems, Inc. | 9,800 | 489,118 | ||||||
|
| |||||||
Electric Utilities - 1.5% | ||||||||
NextEra Energy, Inc. | 28,600 | 1,827,826 | ||||||
|
| |||||||
Food Products - 0.8% | ||||||||
Hershey Co. | 5,100 | 991,950 | ||||||
|
| |||||||
Ground Transportation - 1.2% | ||||||||
Union Pacific Corp. | 6,250 | 1,537,062 | ||||||
|
| |||||||
Health Care Equipment & Supplies - 2.5% | ||||||||
Abbott Laboratories | 10,400 | 1,182,064 | ||||||
Medtronic PLC | 21,850 | 1,904,227 | ||||||
|
| |||||||
3,086,291 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure - 1.1% | ||||||||
McDonald’s Corp. | 2,500 | 704,875 | ||||||
Starbucks Corp. | 7,513 | 686,613 | ||||||
|
| |||||||
1,391,488 | ||||||||
|
| |||||||
Household Products - 1.4% | ||||||||
Colgate-Palmolive Co. | 11,050 | 995,052 | ||||||
Procter & Gamble Co. | 5,050 | 819,363 | ||||||
|
| |||||||
1,814,415 | ||||||||
|
| |||||||
Industrial Conglomerates - 1.0% | ||||||||
Honeywell International, Inc. | 6,400 | 1,313,600 | ||||||
|
| |||||||
IT Services - 0.4% | ||||||||
Accenture PLC, Class A | 1,575 | 545,911 | ||||||
|
| |||||||
Machinery - 1.2% | ||||||||
Caterpillar, Inc. | 1,525 | 558,806 | ||||||
Cummins, Inc. | 3,125 | 920,781 | ||||||
|
| |||||||
1,479,587 | ||||||||
|
|
Shares | Value | |||||||
COMMON STOCKS (continued) | ||||||||
Media - 1.5% | ||||||||
Comcast Corp., Class A | 42,200 | $ 1,829,370 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 3.8% | ||||||||
Chevron Corp. | 9,600 | 1,514,304 | ||||||
ConocoPhillips | 6,300 | 801,864 | ||||||
EOG Resources, Inc. | 13,800 | 1,764,192 | ||||||
Exxon Mobil Corp. | 6,100 | 709,064 | ||||||
|
| |||||||
4,789,424 | ||||||||
|
| |||||||
Pharmaceuticals - 2.5% | ||||||||
Bristol-Myers Squibb Co. | 28,300 | 1,534,709 | ||||||
Johnson & Johnson | 10,000 | 1,581,900 | ||||||
|
| |||||||
3,116,609 | ||||||||
|
| |||||||
Professional Services - 2.2% | ||||||||
Automatic Data Processing, Inc. | 7,300 | 1,823,102 | ||||||
Paychex, Inc. | 7,200 | 884,160 | ||||||
|
| |||||||
2,707,262 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 1.9% | ||||||||
Analog Devices, Inc. | 3,400 | 672,486 | ||||||
Texas Instruments, Inc. | 9,500 | 1,654,995 | ||||||
|
| |||||||
2,327,481 | ||||||||
|
| |||||||
Specialized REITs - 1.1% | ||||||||
American Tower Corp. | 7,050 | 1,393,010 | ||||||
|
| |||||||
Specialty Retail - 2.8% | ||||||||
Home Depot, Inc. | 5,150 | 1,975,540 | ||||||
Lowe’s Cos., Inc. | 6,200 | 1,579,326 | ||||||
|
| |||||||
3,554,866 | ||||||||
|
| |||||||
Trading Companies & Distributors - 1.8% | ||||||||
Fastenal Co. | 28,400 | 2,190,776 | ||||||
|
| |||||||
Total Common Stocks |
| 49,675,541 | ||||||
|
| |||||||
Principal | Value | |||||||
ASSET-BACKED SECURITIES - 2.9% | ||||||||
Carmax Auto Owner Trust | ||||||||
Series 2022-3, Class A4, | ||||||||
4.06%, 02/15/2028 | $ 203,000 | 198,342 | ||||||
Chesapeake Funding II LLC | ||||||||
Series 2020-1A, Class A1, | ||||||||
0.87%, 08/15/2032 (A) | 4,111 | 4,100 | ||||||
Series 2023-1A, Class A1, | ||||||||
5.65%, 05/15/2035 (A) | 386,532 | 386,957 | ||||||
CNH Equipment Trust | ||||||||
Class A3, | ||||||||
4.81%, 08/15/2028 | 500,000 | 496,799 | ||||||
Dell Equipment Finance Trust | ||||||||
Series 2023-2, Class A2, | ||||||||
5.84%, 01/22/2029 (A) | 191,675 | 191,808 | ||||||
Donlen Fleet Lease Funding 2 LLC | ||||||||
Series 2021-2, Class A2, | ||||||||
0.56%, 12/11/2034 (A) | 24,539 | 24,443 | ||||||
Enterprise Fleet Financing LLC | ||||||||
Series 2022-4, Class A2, | ||||||||
5.76%, 10/22/2029 (A) | 269,300 | 269,730 | ||||||
Series 2023-1, Class A2, | ||||||||
5.51%, 01/22/2029 (A) | 212,155 | 211,974 |
Transamerica Series Trust | Page 1 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Principal | Value | |||||||
ASSET-BACKED SECURITIES (continued) | ||||||||
Hertz Vehicle Financing III LLC | ||||||||
Series 2022-1A, Class A, | ||||||||
1.99%, 06/25/2026 (A) | $ 250,000 | $ 241,068 | ||||||
Hertz Vehicle Financing LLC | ||||||||
Series 2021-1A, Class A, | ||||||||
1.21%, 12/26/2025 (A) | 250,000 | 244,082 | ||||||
Honda Auto Receivables Owner Trust | ||||||||
Series 2021-3, Class A3, | ||||||||
0.41%, 11/18/2025 | 282,433 | 276,672 | ||||||
JPMorgan Chase Bank NA - CACLN | ||||||||
Series 2021-1, Class B, | ||||||||
0.88%, 09/25/2028 (A) | 31,616 | 31,282 | ||||||
Series 2021-2, Class B, | ||||||||
0.89%, 12/26/2028 (A) | 53,684 | 52,731 | ||||||
Series 2021-3, Class C, | ||||||||
0.86%, 02/26/2029 (A) | 75,710 | 73,428 | ||||||
LAD Auto Receivables Trust | ||||||||
Series 2023-2A, Class A2, | ||||||||
5.93%, 06/15/2027 (A) | 157,001 | 157,150 | ||||||
Santander Revolving Auto Loan Trust | ||||||||
Series 2019-A, Class C, | ||||||||
3.00%, 01/26/2032 (A) | 350,000 | 342,057 | ||||||
Towd Point HE Trust | ||||||||
Series 2021-HE1, Class A1, | ||||||||
0.92% (B), 02/25/2063 (A) | 94,867 | 90,812 | ||||||
Towd Point Mortgage Trust | ||||||||
Series 2024-CES1, Class A1A, | ||||||||
5.85% (B), 01/25/2064 (A) | 293,880 | 294,019 | ||||||
|
| |||||||
Total Asset-Backed Securities |
| 3,587,454 | ||||||
|
| |||||||
CORPORATE DEBT SECURITIES - 18.3% | ||||||||
Aerospace & Defense - 0.2% | ||||||||
BAE Systems PLC | ||||||||
5.30%, 03/26/2034 (A) | 250,000 | 251,380 | ||||||
|
| |||||||
Banks - 4.4% | ||||||||
Bank of America Corp. | ||||||||
Fixed until 06/14/2028, | 300,000 | 265,333 | ||||||
Fixed until 03/08/2032, | 250,000 | 221,117 | ||||||
Citigroup, Inc. | ||||||||
Fixed until 05/24/2032, | 200,000 | 192,818 | ||||||
Fifth Third Bancorp | ||||||||
2.55%, 05/05/2027 | 225,000 | 207,524 | ||||||
Fixed until 04/25/2032, | 200,000 | 182,632 | ||||||
Fixed until 07/27/2028, | 100,000 | 103,125 | ||||||
Goldman Sachs Group, Inc. | ||||||||
Fixed until 10/21/2026, | 500,000 | 459,899 | ||||||
Huntington Bancshares, Inc. | ||||||||
Fixed until 08/15/2031, | 300,000 | 228,691 | ||||||
Huntington National Bank | ||||||||
Fixed until 05/16/2024, | 250,000 | 249,064 |
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Banks (continued) | ||||||||
JPMorgan Chase & Co. | ||||||||
Fixed until 01/23/2034, | $ 250,000 | $ 251,150 | ||||||
Mitsubishi UFJ Financial Group, Inc. | ||||||||
Fixed until 02/22/2030, | 250,000 | 254,461 | ||||||
Morgan Stanley | ||||||||
Fixed until 01/18/2034, | 250,000 | 252,466 | ||||||
Fixed until 01/19/2033, | 100,000 | 99,776 | ||||||
PNC Bank NA | ||||||||
2.70%, 10/22/2029 | 125,000 | 108,550 | ||||||
PNC Financial Services Group, Inc. | ||||||||
Fixed until 10/20/2033, | 250,000 | 273,971 | ||||||
Regions Financial Corp. | ||||||||
1.80%, 08/12/2028 | 250,000 | 215,565 | ||||||
Royal Bank of Canada | ||||||||
5.15%, 02/01/2034 | 175,000 | 175,233 | ||||||
State Street Corp. | ||||||||
Fixed until 11/01/2029, | 125,000 | 111,079 | ||||||
Toronto-Dominion Bank | ||||||||
4.46%, 06/08/2032 | 250,000 | 239,289 | ||||||
Truist Financial Corp. | ||||||||
Fixed until 01/26/2033, | 200,000 | 192,572 | ||||||
Fixed until 06/08/2033, | 300,000 | 303,743 | ||||||
UBS Group AG | ||||||||
Fixed until 08/05/2026, | 200,000 | 196,303 | ||||||
US Bancorp | ||||||||
Fixed until 02/01/2033, | 225,000 | 213,915 | ||||||
Fixed until 01/23/2029, | 125,000 | 125,590 | ||||||
Wells Fargo & Co. | ||||||||
Fixed until 01/22/2029, | 125,000 | 124,766 | ||||||
Fixed until 07/25/2028, | 250,000 | 253,033 | ||||||
|
| |||||||
5,501,665 | ||||||||
|
| |||||||
Beverages - 0.1% | ||||||||
Keurig Dr. Pepper, Inc. | ||||||||
3.80%, 05/01/2050 | 200,000 | 153,335 | ||||||
|
| |||||||
Biotechnology - 0.2% | ||||||||
Amgen, Inc. | ||||||||
5.65%, 03/02/2053 | 75,000 | 76,575 | ||||||
Royalty Pharma PLC | ||||||||
2.20%, 09/02/2030 | 200,000 | 166,290 | ||||||
|
| |||||||
242,865 | ||||||||
|
| |||||||
Building Products - 0.4% | ||||||||
Carrier Global Corp. | ||||||||
3.58%, 04/05/2050 | 100,000 | 74,518 | ||||||
6.20%, 03/15/2054 | 200,000 | 220,886 |
Transamerica Series Trust | Page 2 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Building Products (continued) | ||||||||
Lowe’s Cos., Inc. | ||||||||
3.00%, 10/15/2050 | $ 300,000 | $ 196,919 | ||||||
|
| |||||||
492,323 | ||||||||
|
| |||||||
Capital Markets - 0.5% | ||||||||
Goldman Sachs BDC, Inc. | ||||||||
2.88%, 01/15/2026 | 200,000 | 190,512 | ||||||
Jefferies Financial Group, Inc. | ||||||||
2.63%, 10/15/2031 | 250,000 | 206,155 | ||||||
KKR Group Finance Co. VIII LLC | ||||||||
3.50%, 08/25/2050 (A) | 250,000 | 175,878 | ||||||
|
| |||||||
572,545 | ||||||||
|
| |||||||
Chemicals - 0.3% | ||||||||
LYB International Finance III LLC | ||||||||
3.63%, 04/01/2051 | 200,000 | 141,344 | ||||||
Nutrien Ltd. | ||||||||
5.80%, 03/27/2053 | 250,000 | 255,300 | ||||||
|
| |||||||
396,644 | ||||||||
|
| |||||||
Commercial Services & Supplies - 0.4% | ||||||||
Quanta Services, Inc. | ||||||||
2.90%, 10/01/2030 | 300,000 | 262,501 | ||||||
Textron, Inc. | ||||||||
2.45%, 03/15/2031 | 250,000 | 210,637 | ||||||
|
| |||||||
473,138 | ||||||||
|
| |||||||
Construction Materials - 0.2% | ||||||||
Vulcan Materials Co. | ||||||||
3.50%, 06/01/2030 | 275,000 | 252,202 | ||||||
|
| |||||||
Consumer Finance - 0.7% | ||||||||
American Express Co. | ||||||||
Fixed until 10/30/2030, | 250,000 | 268,006 | ||||||
Capital One Financial Corp. | ||||||||
Fixed until 05/10/2027, | 200,000 | 196,937 | ||||||
Fixed until 06/08/2028, | 200,000 | 205,783 | ||||||
Synchrony Financial | ||||||||
3.70%, 08/04/2026 | 100,000 | 95,042 | ||||||
Western Union Co. | ||||||||
2.85%, 01/10/2025 | 150,000 | 146,663 | ||||||
|
| |||||||
912,431 | ||||||||
|
| |||||||
Consumer Staples Distribution & Retail - 0.3% | ||||||||
7-Eleven, Inc. | ||||||||
1.80%, 02/10/2031 (A) | 325,000 | 261,184 | ||||||
2.50%, 02/10/2041 (A) | 250,000 | 168,739 | ||||||
|
| |||||||
429,923 | ||||||||
|
| |||||||
Containers & Packaging - 0.1% | ||||||||
WRKCo, Inc. | ||||||||
3.90%, 06/01/2028 | 125,000 | 119,226 | ||||||
|
| |||||||
Diversified REITs - 0.1% | ||||||||
GLP Capital LP/GLP Financing II, Inc. | ||||||||
3.25%, 01/15/2032 | 200,000 | 168,490 | ||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Diversified Telecommunication Services - 0.3% | ||||||||
AT&T, Inc. | ||||||||
2.25%, 02/01/2032 | $ 300,000 | $ 244,021 | ||||||
4.75%, 05/15/2046 | 75,000 | 67,239 | ||||||
|
| |||||||
311,260 | ||||||||
|
| |||||||
Electric Utilities - 1.0% | ||||||||
Berkshire Hathaway Energy Co. | ||||||||
1.65%, 05/15/2031 | 200,000 | 160,255 | ||||||
DTE Electric Co. | ||||||||
5.40%, 04/01/2053 (C) | 250,000 | 252,464 | ||||||
Duke Energy Corp. | ||||||||
3.75%, 09/01/2046 | 250,000 | 189,078 | ||||||
Interstate Power & Light Co. | ||||||||
3.50%, 09/30/2049 | 225,000 | 162,622 | ||||||
NextEra Energy Capital Holdings, Inc. | ||||||||
1.90%, 06/15/2028 | 400,000 | 354,039 | ||||||
PECO Energy Co. | ||||||||
3.05%, 03/15/2051 | 250,000 | 170,733 | ||||||
|
| |||||||
1,289,191 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components - 0.1% | ||||||||
Vontier Corp. | ||||||||
1.80%, 04/01/2026 | 200,000 | 185,708 | ||||||
|
| |||||||
Energy Equipment & Services - 0.2% | ||||||||
Schlumberger Holdings Corp. | ||||||||
3.90%, 05/17/2028 (A) | 292,000 | 281,531 | ||||||
|
| |||||||
Financial Services - 0.9% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
1.75%, 01/30/2026 | 350,000 | 326,841 | ||||||
4.63%, 10/15/2027 | 250,000 | 243,829 | ||||||
Air Lease Corp. | ||||||||
2.88%, 01/15/2026 | 250,000 | 239,099 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
2.13%, 02/21/2026 (A) | 350,000 | 326,157 | ||||||
|
| |||||||
1,135,926 | ||||||||
|
| |||||||
Food Products - 0.4% | ||||||||
J M Smucker Co. | ||||||||
6.20%, 11/15/2033 | 250,000 | 266,582 | ||||||
Mars, Inc. | ||||||||
2.38%, 07/16/2040 (A) | 350,000 | 244,349 | ||||||
|
| |||||||
510,931 | ||||||||
|
| |||||||
Health Care Providers & Services - 0.8% | ||||||||
Cigna Group | ||||||||
4.38%, 10/15/2028 | 50,000 | 48,812 | ||||||
4.90%, 12/15/2048 | 100,000 | 91,214 | ||||||
CVS Health Corp. | ||||||||
5.13%, 07/20/2045 | 250,000 | 230,618 | ||||||
Health Care Service Corp. A Mutual Legal Reserve Co. | ||||||||
2.20%, 06/01/2030 (A) | 350,000 | 294,856 | ||||||
Humana, Inc. | ||||||||
5.38%, 04/15/2031 | 150,000 | 150,140 | ||||||
UnitedHealth Group, Inc. | ||||||||
3.70%, 08/15/2049 | 250,000 | 196,379 | ||||||
|
| |||||||
1,012,019 | ||||||||
|
|
Transamerica Series Trust | Page 3 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Health Care REITs - 0.3% | ||||||||
Healthpeak OP LLC | ||||||||
3.25%, 07/15/2026 | $ 150,000 | $ 143,449 | ||||||
Omega Healthcare Investors, Inc. | ||||||||
3.38%, 02/01/2031 | 225,000 | 192,175 | ||||||
|
| |||||||
335,624 | ||||||||
|
| |||||||
Health Care Technology - 0.2% | ||||||||
GE HealthCare Technologies, Inc. | ||||||||
5.60%, 11/15/2025 | 250,000 | 250,890 | ||||||
|
| |||||||
Insurance - 1.5% | ||||||||
Aflac, Inc. | ||||||||
4.75%, 01/15/2049 | 250,000 | 228,742 | ||||||
American International Group, Inc. | ||||||||
4.75%, 04/01/2048 | 100,000 | 92,363 | ||||||
Aon North America, Inc. | ||||||||
5.45%, 03/01/2034 | 200,000 | 202,260 | ||||||
Athene Holding Ltd. | ||||||||
6.25%, 04/01/2054 | 125,000 | 126,739 | ||||||
Belrose Funding Trust | ||||||||
2.33%, 08/15/2030 (A) | 250,000 | 201,002 | ||||||
Berkshire Hathaway Finance Corp. | ||||||||
3.85%, 03/15/2052 | 200,000 | 162,070 | ||||||
Empower Finance 2020 LP | ||||||||
3.08%, 09/17/2051 (A) | 350,000 | 235,547 | ||||||
Five Corners Funding Trust II | ||||||||
2.85%, 05/15/2030 (A) | 250,000 | 219,269 | ||||||
Liberty Mutual Group, Inc. | ||||||||
3.95%, 05/15/2060 (A) | 100,000 | 72,654 | ||||||
Old Republic International Corp. | ||||||||
3.85%, 06/11/2051 | 250,000 | 180,768 | ||||||
Teachers Insurance & Annuity Association of America | ||||||||
3.30%, 05/15/2050 (A) | 200,000 | 140,531 | ||||||
|
| |||||||
1,861,945 | ||||||||
|
| |||||||
Machinery - 0.2% | ||||||||
Nordson Corp. | ||||||||
5.80%, 09/15/2033 | 250,000 | 260,594 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels - 2.2% | ||||||||
Eastern Gas Transmission & Storage, Inc. | ||||||||
3.00%, 11/15/2029 | 250,000 | 223,503 | ||||||
Enbridge, Inc. | ||||||||
5.70%, 03/08/2033 | 125,000 | 127,975 | ||||||
Energy Transfer LP | ||||||||
5.25%, 04/15/2029 | 100,000 | 100,134 | ||||||
6.55%, 12/01/2033 | 250,000 | 267,970 | ||||||
Exxon Mobil Corp. | ||||||||
4.11%, 03/01/2046 | 225,000 | 194,187 | ||||||
Kinder Morgan, Inc. | ||||||||
5.55%, 06/01/2045 | 350,000 | 334,445 | ||||||
Marathon Petroleum Corp. | ||||||||
3.80%, 04/01/2028 | 175,000 | 167,986 | ||||||
4.70%, 05/01/2025 | 200,000 | 198,335 | ||||||
MPLX LP | ||||||||
2.65%, 08/15/2030 | 400,000 | 343,694 | ||||||
Phillips 66 | ||||||||
4.65%, 11/15/2034 | 100,000 | 95,344 | ||||||
Valero Energy Corp. | ||||||||
4.00%, 06/01/2052 | 100,000 | 76,940 | ||||||
6.63%, 06/15/2037 | 250,000 | 272,712 | ||||||
Valero Energy Partners LP | ||||||||
4.50%, 03/15/2028 | 400,000 | 392,708 | ||||||
|
| |||||||
2,795,933 | ||||||||
|
|
Principal | Value | |||||||
CORPORATE DEBT SECURITIES (continued) | ||||||||
Passenger Airlines - 0.2% | ||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd. | ||||||||
4.75%, 10/20/2028 (A) | $ 250,000 | $ 244,565 | ||||||
|
| |||||||
Pharmaceuticals - 0.4% | ||||||||
Pfizer Investment Enterprises Pte. Ltd. | ||||||||
5.30%, 05/19/2053 | 450,000 | 448,553 | ||||||
|
| |||||||
Retail REITs - 0.2% | ||||||||
Realty Income Corp. | ||||||||
4.85%, 03/15/2030 | 200,000 | 197,833 | ||||||
|
| |||||||
Semiconductors & Semiconductor Equipment - 0.3% | ||||||||
Broadcom, Inc. | ||||||||
3.19%, 11/15/2036 (A) | 9,000 | 7,172 | ||||||
Intel Corp. | ||||||||
3.73%, 12/08/2047 | 400,000 | 311,010 | ||||||
|
| |||||||
318,182 | ||||||||
|
| |||||||
Software - 0.7% | ||||||||
Fiserv, Inc. | ||||||||
3.50%, 07/01/2029 | 200,000 | 186,230 | ||||||
Intuit, Inc. | ||||||||
5.20%, 09/15/2033 | 100,000 | 101,804 | ||||||
Oracle Corp. | ||||||||
3.95%, 03/25/2051 | 250,000 | 190,866 | ||||||
Salesforce, Inc. | ||||||||
2.90%, 07/15/2051 | 250,000 | 168,721 | ||||||
VMware LLC | ||||||||
2.20%, 08/15/2031 | 250,000 | 203,613 | ||||||
|
| |||||||
851,234 | ||||||||
|
| |||||||
Specialized REITs - 0.1% | ||||||||
Weyerhaeuser Co. | ||||||||
3.38%, 03/09/2033 | 200,000 | 174,864 | ||||||
|
| |||||||
Specialty Retail - 0.1% | ||||||||
Tractor Supply Co. | ||||||||
5.25%, 05/15/2033 | 100,000 | 100,651 | ||||||
|
| |||||||
Technology Hardware, Storage & Peripherals - 0.3% | ||||||||
Dell International LLC/EMC Corp. | ||||||||
3.45%, 12/15/2051 | 250,000 | 175,349 | ||||||
8.35%, 07/15/2046 | 19,000 | 24,535 | ||||||
HP, Inc. | ||||||||
2.65%, 06/17/2031 | 250,000 | 211,919 | ||||||
|
| |||||||
411,803 | ||||||||
|
| |||||||
Total Corporate Debt Securities |
| 22,945,404 | ||||||
|
| |||||||
MORTGAGE-BACKED SECURITIES - 2.1% | ||||||||
Bunker Hill Loan Depositary Trust | ||||||||
Series 2020-1, Class A1, | ||||||||
1.72% (B), 02/25/2055 (A) | 83,731 | 79,858 | ||||||
CIM Trust | ||||||||
Series 2021-J2, Class A4, | ||||||||
2.50% (B), 04/25/2051 (A) | 279,183 | 244,006 | ||||||
GCAT Trust | ||||||||
Series 2021-NQM1, Class A1, | ||||||||
0.87% (B), 01/25/2066 (A) | 144,604 | 121,235 | ||||||
GS Mortgage-Backed Securities Corp. Trust | ||||||||
Series 2020-PJ6, Class A2, | ||||||||
2.50% (B), 05/25/2051 (A) | 157,351 | 127,415 |
Transamerica Series Trust | Page 4 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Principal | Value | |||||||
MORTGAGE-BACKED SECURITIES (continued) | ||||||||
JPMorgan Mortgage Trust | ||||||||
Series 2021-1, Class A3, | ||||||||
2.50% (B), 06/25/2051 (A) | $ 455,927 | $ 365,775 | ||||||
Series 2021-3, Class A3, | ||||||||
2.50% (B), 07/25/2051 (A) | 210,216 | 168,649 | ||||||
Series 2021-6, Class A4, | ||||||||
2.50% (B), 10/25/2051 (A) | 565,548 | 494,132 | ||||||
JPMorgan Wealth Management | ||||||||
Series 2020-ATR1, Class A3, | ||||||||
3.00% (B), 02/25/2050 (A) | 104,847 | 89,937 | ||||||
PSMC Trust | ||||||||
Series 2021-1, Class A11, | ||||||||
2.50% (B), 03/25/2051 (A) | 329,107 | 286,288 | ||||||
RCKT Mortgage Trust | ||||||||
Series 2021-6, Class A5, | ||||||||
2.50% (B), 12/25/2051 (A) | 327,683 | 283,177 | ||||||
Sequoia Mortgage Trust | ||||||||
Series 2013-7, Class A2, | ||||||||
3.00% (B), 06/25/2043 | 202,222 | 176,031 | ||||||
Wells Fargo Mortgage-Backed Securities Trust | ||||||||
Series 2021-INV2, Class A2, | ||||||||
2.50% (B), 09/25/2051 (A) | 200,561 | 160,903 | ||||||
|
| |||||||
Total Mortgage-Backed Securities |
| 2,597,406 | ||||||
|
| |||||||
MUNICIPAL GOVERNMENT OBLIGATIONS - 0.2% | ||||||||
Massachusetts - 0.0% (D) | ||||||||
University of Massachusetts Building Authority, Revenue Bonds, | ||||||||
6.57%, 05/01/2039 | 35,000 | 35,032 | ||||||
|
| |||||||
Oregon - 0.2% | ||||||||
Hillsboro School District No. 1J, General Obligation Limited, | ||||||||
4.36%, 06/30/2034 | 200,000 | 192,346 | ||||||
|
| |||||||
Total Municipal Government Obligations |
| 227,378 | ||||||
|
| |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS - 23.3% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
2.00%, 03/01/2041 - 12/01/2051 | 1,636,814 | 1,355,982 | ||||||
2.50%, 02/01/2032 - 01/01/2052 | 2,564,272 | 2,194,474 | ||||||
3.00%, 09/01/2042 - 08/01/2052 | 1,835,214 | 1,618,561 | ||||||
3.50%, 11/01/2040 - 05/01/2052 | 1,990,614 | 1,806,101 | ||||||
4.00%, 04/01/2033 - 03/01/2047 | 170,655 | 164,724 | ||||||
4.50%, 02/01/2025 - 12/01/2052 | 482,733 | 469,026 | ||||||
5.00%, 11/01/2052 - 02/01/2053 | 2,134,468 | 2,085,911 | ||||||
5.50%, 01/01/2037 - 02/01/2054 | 1,565,463 | 1,566,220 | ||||||
6.00%, 09/01/2053 | 666,925 | 675,923 | ||||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | ||||||||
2.98%, 11/25/2025 | 178,493 | 174,658 | ||||||
3.12%, 06/25/2027 | 750,000 | 716,589 | ||||||
3.35%, 01/25/2028 | 400,000 | 382,696 | ||||||
Federal Home Loan Mortgage Corp. REMICS | ||||||||
5.00%, 07/15/2036 | 71,490 | 70,773 | ||||||
Federal Home Loan Mortgage Corp. STACR REMICS Trust | ||||||||
1-Month SOFR Average + 0.75%, | 51,192 | 51,161 | ||||||
Federal National Mortgage Association | ||||||||
2.50%, 06/01/2031 - 04/01/2052 | 3,446,774 | 2,979,162 |
Principal | Value | |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued) | ||||||||
Federal National Mortgage Association (continued) |
| |||||||
3.00%, 12/01/2028 - 01/01/2049 | $ 2,198,921 | $ 1,994,317 | ||||||
3.10% (B), 07/25/2024 | 154,075 | 152,705 | ||||||
3.15% (B), 11/25/2027 | 424,486 | 403,353 | ||||||
3.50%, 12/01/2031 - 08/01/2052 | 2,372,245 | 2,160,104 | ||||||
4.00%, 02/01/2035 - 05/01/2052 | 3,039,729 | 2,840,629 | ||||||
4.50%, 05/01/2038 - 07/01/2053 | 2,116,732 | 2,045,462 | ||||||
5.00%, 10/01/2052 - 12/01/2052 | 1,337,781 | 1,307,212 | ||||||
5.50%, 10/01/2052 - 09/01/2053 | 719,789 | 719,467 | ||||||
Federal National Mortgage Association REMICS | ||||||||
1.38%, 09/25/2027 | 226,272 | 213,791 | ||||||
3.50%, 04/25/2031 | 108,475 | 104,333 | ||||||
FREMF Mortgage Trust | ||||||||
3.56% (B), 03/25/2053 (A) | 250,000 | 226,994 | ||||||
3.72% (B), 01/25/2048 (A) | 410,000 | 402,089 | ||||||
3.83% (B), 11/25/2047 (A) | 180,000 | 177,398 | ||||||
Government National Mortgage Association | ||||||||
3.50%, 12/15/2042 | 32,371 | 30,174 | ||||||
4.00%, 12/15/2039 | 4,047 | 3,856 | ||||||
4.50%, 08/15/2040 | 1,649 | 1,621 | ||||||
|
| |||||||
Total U.S. Government Agency Obligations |
| 29,095,466 | ||||||
|
| |||||||
U.S. GOVERNMENT OBLIGATIONS - 12.6% | ||||||||
U.S. Treasury - 12.6% | ||||||||
U.S. Treasury Bonds | ||||||||
2.00%, 02/15/2050 | 700,000 | 439,332 | ||||||
2.50%, 02/15/2045 | 750,000 | 549,316 | ||||||
2.75%, 08/15/2042 - 11/15/2042 | 1,800,000 | 1,413,165 | ||||||
3.00%, 05/15/2047 | 750,000 | 590,156 | ||||||
3.75%, 08/15/2041 | 250,000 | 230,479 | ||||||
4.13%, 08/15/2053 | 975,000 | 938,742 | ||||||
4.38%, 05/15/2041 | 500,000 | 499,785 | ||||||
U.S. Treasury Notes | ||||||||
2.00%, 08/15/2025 | 1,000,000 | 962,578 | ||||||
2.38%, 05/15/2027 | 1,725,000 | 1,623,926 | ||||||
2.63%, 02/15/2029 | 2,500,000 | 2,323,730 | ||||||
2.88%, 05/15/2028 | 2,250,000 | 2,130,293 | ||||||
3.88%, 11/30/2029 | 1,000,000 | 982,578 | ||||||
4.00%, 02/29/2028 - 02/15/2034 | 2,065,000 | 2,038,968 | ||||||
4.13%, 11/15/2032 | 250,000 | 248,506 | ||||||
4.63%, 09/30/2028 | 800,000 | 811,969 | ||||||
|
| |||||||
Total U.S. Government Obligations |
| 15,783,523 | ||||||
|
| |||||||
Shares | Value | |||||||
OTHER INVESTMENT COMPANY - 0.2% | ||||||||
Securities Lending Collateral - 0.2% | ||||||||
State Street Navigator Securities Lending Trust - Government Money Market Portfolio, 5.29% (E) | 257,498 | 257,498 | ||||||
|
| |||||||
Total Other Investment Company |
| 257,498 | ||||||
|
|
Transamerica Series Trust | Page 5 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Principal | Value | |||||||
REPURCHASE AGREEMENT - 0.7% | ||||||||
Fixed Income Clearing Corp., 2.50% (E), dated 03/28/2024, to be repurchased at $914,296 on 04/01/2024. Collateralized by a U.S. Government Obligation, 4.25%, due 12/31/2025, and with a value of $932,325. | $ 914,042 | $ 914,042 | ||||||
|
| |||||||
Total Repurchase Agreement |
| 914,042 | ||||||
|
| |||||||
Total Investments |
| 125,083,712 | ||||||
Net Other Assets (Liabilities) - 0.0% (D) | 54,920 | |||||||
|
| |||||||
Net Assets - 100.0% | $ 125,138,632 | |||||||
|
|
Transamerica Series Trust | Page 6 |
Transamerica Madison Diversified Income VP
SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
INVESTMENT VALUATION:
Valuation Inputs (F)
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Value | |||||||||||||
ASSETS | ||||||||||||||||
Investments |
| |||||||||||||||
Common Stocks | $ | 49,675,541 | $ | — | $ | — | $ | 49,675,541 | ||||||||
Asset- Backed Securities | — | 3,587,454 | — | 3,587,454 | ||||||||||||
Corporate Debt Securities | — | 22,945,404 | — | 22,945,404 | ||||||||||||
Mortgage- Backed Securities | — | 2,597,406 | — | 2,597,406 | ||||||||||||
Municipal Government Obligations | — | 227,378 | — | 227,378 | ||||||||||||
U.S. Government Agency Obligations | — | 29,095,466 | — | 29,095,466 | ||||||||||||
U.S. Government Obligations | — | 15,783,523 | — | 15,783,523 | ||||||||||||
Other Investment Company | 257,498 | — | — | 257,498 | ||||||||||||
Repurchase Agreement | — | 914,042 | — | 914,042 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 49,933,039 | $ | 75,150,673 | $ | — | $ | 125,083,712 | ||||||||
|
|
|
|
|
|
|
|
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 $9,215,775, representing 7.4% of the Portfolio’s net assets. | |
(B) | 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. | |
(C) | All or a portion of the securities are on loan. The total value of all securities on loan is $508,056, collateralized by cash collateral of $257,498 and non-cash collateral, such as U.S. government securities and irrevocable letters of credit, of $261,203. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. | |
(D) | Percentage rounds to less than 0.1% or (0.1)%. | |
(E) | Rates disclosed reflect the yields at March 31, 2024. | |
(F) | 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. |
PORTFOLIO ABBREVIATIONS:
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing Rate | |
STACR | Structured Agency Credit Risk |
Transamerica Series Trust | Page 7 |
Transamerica Madison Diversified Income VP
NOTES TO SCHEDULE OF INVESTMENTS
At March 31, 2024
(unaudited)
INVESTMENT VALUATION
Transamerica Madison Diversified Income 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.
Asset-backed securities: The fair value of asset-backed securities is estimated based on models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.
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.
Transamerica Series Trust | Page 8 |
Transamerica Madison Diversified Income VP
NOTES TO SCHEDULE OF INVESTMENTS (continued)
At March 31, 2024
(unaudited)
Mortgage-backed securities: The fair value of mortgage-backed securities is estimated based on models that consider issuer type, coupon, cash flows, mortgage prepayment projection tables and adjustable rate mortgage evaluations that incorporate index data, periodic life caps and the next coupon reset date. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.
Municipal government obligations: The fair value of municipal government obligations and variable rate notes is estimated based on models that consider, among other factors, information received from market makers and broker-dealers, current trades, bid-want lists, offerings, market movements, the liquidity of the bond, state of issuance, benchmark yield curves, and bond or note insurance. To the extent the inputs are observable and timely, the values would generally be categorized in Level 2 of the fair value hierarchy; otherwise they are categorized in Level 3.
U.S. government agency obligations: U.S. government agency obligations are comprised of two main categories consisting of agency issued debt and mortgage pass-throughs. Generally, agency issued debt securities are valued in a manner similar to U.S. government obligations. Mortgage pass-throughs include to be announced (“TBA”) securities and mortgage pass-through certificates. Generally, TBA securities and mortgage pass-throughs are valued using dealer quotations. Depending on market activity levels and whether quotations or other observable data are used, these securities are typically categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized in Level 3.
U.S. government obligations: U.S. government obligations are normally valued using a model that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued by principally using dealer quotations. U.S. government obligations generally are categorized in Level 2 of the fair value hierarchy, or Level 3 if inputs are unobservable.
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 9 |