PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
1
Voya
Russell™
Large
Cap
Value
Index
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
99.5%
Communication
Services
:
6.0%
75,418
Activision
Blizzard,
Inc.
$
7,061,387
0.6
743,239
AT&T,
Inc.
11,163,450
0.9
424,779
Comcast
Corp.
-
Class
A
18,834,701
1.5
55,281
(1)
T-Mobile
US,
Inc.
7,742,104
0.6
436,885
Verizon
Communications,
Inc.
14,159,443
1.2
189,845
(1)
Walt
Disney
Co.
15,386,937
1.2
74,348,022
6.0
Consumer
Discretionary
:
2.6%
310
(1)
AutoZone,
Inc.
787,397
0.1
407,267
Ford
Motor
Co.
5,058,256
0.4
142,462
General
Motors
Co.
4,696,972
0.4
2,329
Las
Vegas
Sands
Corp.
106,762
0.0
16,254
Lowe's
Cos.,
Inc.
3,378,231
0.3
44,443
McDonald's
Corp.
11,708,064
0.9
57,650
NIKE,
Inc.
-
Class
B
5,512,493
0.4
945
(1)
O'Reilly
Automotive,
Inc.
858,873
0.1
32,107,048
2.6
Consumer
Staples
:
10.7%
185,421
Altria
Group,
Inc.
7,796,953
0.6
55,405
Archer-Daniels-Midland
Co.
4,178,645
0.3
203,782
Coca-Cola
Co.
11,407,716
0.9
85,188
Colgate-Palmolive
Co.
6,057,719
0.5
15,042
Constellation
Brands,
Inc.
-
Class
A
3,780,506
0.3
16,344
Estee
Lauder
Cos.,
Inc.
-
Class
A
2,362,525
0.2
60,964
General
Mills,
Inc.
3,901,086
0.3
3,934
Hershey
Co.
787,115
0.1
119,007
Kenvue,
Inc.
2,389,661
0.2
98,908
Keurig
Dr
Pepper,
Inc.
3,122,526
0.3
2,058
Kimberly-Clark
Corp.
248,709
0.0
83,357
Kraft
Heinz
Co.
2,804,129
0.2
141,171
Mondelez
International,
Inc.
-
Class
A
9,797,267
0.8
44,193
PepsiCo,
Inc.
7,488,062
0.6
161,108
Philip
Morris
International,
Inc.
14,915,379
1.2
198,459
Procter
&
Gamble
Co.
28,947,230
2.3
148,182
Walmart,
Inc.
23,698,747
1.9
133,683,975
10.7
Energy
:
11.0%
183,687
Chevron
Corp.
30,973,302
2.5
125,875
ConocoPhillips
15,079,825
1.2
61,005
EOG
Resources,
Inc.
7,732,994
0.6
415,858
Exxon
Mobil
Corp.
48,896,584
3.9
203,520
Kinder
Morgan,
Inc.
3,374,362
0.3
44,012
Marathon
Petroleum
Corp.
6,660,776
0.5
72,395
Occidental
Petroleum
Corp.
4,696,987
0.4
24,156
Pioneer
Natural
Resources
Co.
5,545,010
0.5
147,892
Schlumberger
NV
8,622,103
0.7
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Energy:
(continued)
36,541
Valero
Energy
Corp.
$
5,178,225
0.4
136,760,168
11.0
Financials
:
22.5%
41,273
American
Express
Co.
6,157,519
0.5
75,104
American
International
Group,
Inc.
4,551,302
0.4
20,986
Aon
PLC
-
Class
A
6,804,081
0.5
723,121
Bank
of
America
Corp.
19,799,053
1.6
190,105
(1)
Berkshire
Hathaway,
Inc.
-
Class
B
66,593,781
5.4
15,431
BlackRock,
Inc.
9,975,987
0.8
39,338
Capital
One
Financial
Corp.
3,817,753
0.3
153,860
Charles
Schwab
Corp.
8,446,914
0.7
42,788
Chubb
Ltd.
8,907,606
0.7
201,906
Citigroup,
Inc.
8,304,394
0.7
37,270
CME
Group,
Inc.
7,462,199
0.6
45,764
(1)
Fiserv,
Inc.
5,169,501
0.4
33,517
Goldman
Sachs
Group,
Inc.
10,845,096
0.9
58,758
Intercontinental
Exchange,
Inc.
6,464,555
0.5
299,676
JPMorgan
Chase
&
Co.
43,459,014
3.5
10,225
Marsh
&
McLennan
Cos.,
Inc.
1,945,818
0.2
67,122
MetLife,
Inc.
4,222,645
0.3
1,446
Moody's
Corp.
457,182
0.0
124,811
Morgan
Stanley
10,193,314
0.8
41,336
PNC
Financial
Services
Group,
Inc.
5,074,821
0.4
15,228
Progressive
Corp.
2,121,260
0.2
30,539
S&P
Global,
Inc.
11,159,256
0.9
23,924
Travelers
Cos.,
Inc.
3,907,028
0.3
137,655
Truist
Financial
Corp.
3,938,310
0.3
159,064
US
Bancorp
5,258,656
0.4
381,003
Wells
Fargo
&
Co.
15,567,783
1.2
280,604,828
22.5
Health
Care
:
19.9%
168,389
Abbott
Laboratories
16,308,475
1.3
17,746
Amgen,
Inc.
4,769,415
0.4
29,419
Becton
Dickinson
and
Co.
7,605,694
0.6
149,046
(1)
Boston
Scientific
Corp.
7,869,629
0.6
218,235
Bristol-Myers
Squibb
Co.
12,666,359
1.0
56,138
(1)
Centene
Corp.
3,866,785
0.3
28,065
Cigna
Group
8,028,555
0.6
132,930
CVS
Health
Corp.
9,281,173
0.7
68,327
Danaher
Corp.
16,951,929
1.4
21,337
Elevance
Health,
Inc.
9,290,557
0.8
37,385
GE
HealthCare
Technologies,
Inc.
2,543,675
0.2
129,753
Gilead
Sciences,
Inc.
9,723,690
0.8
16,830
HCA
Healthcare,
Inc.
4,139,843
0.3
7,339
Humana,
Inc.
3,570,570
0.3
250,197
Johnson
&
Johnson
38,968,183
3.1
8,711
McKesson
Corp.
3,787,978
0.3
137,889
Medtronic
PLC
10,804,982
0.9
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
(continued)
2
Voya
Russell™
Large
Cap
Value
Index
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Health
Care:
(continued)
215,177
Merck
&
Co.,
Inc.
$
22,152,472
1.8
34,495
(1)
Moderna,
Inc.
3,562,989
0.3
586,591
Pfizer,
Inc.
19,457,224
1.6
10,024
(1)
Regeneron
Pharmaceuticals,
Inc.
8,249,351
0.7
27,511
Stryker
Corp.
7,517,931
0.6
15,379
Thermo
Fisher
Scientific,
Inc.
7,784,388
0.6
15,344
UnitedHealth
Group,
Inc.
7,736,291
0.6
2,268
(1)
Vertex
Pharmaceuticals,
Inc.
788,674
0.1
247,426,812
19.9
Industrials
:
9.9%
57,074
3M
Co.
5,343,268
0.4
6,097
Automatic
Data
Processing,
Inc.
1,466,816
0.1
50,015
(1)
Boeing
Co.
9,586,875
0.8
13,403
Caterpillar,
Inc.
3,659,019
0.3
184,871
CSX
Corp.
5,684,783
0.5
1,821
Deere
&
Co.
687,209
0.0
41,340
Eaton
Corp.
PLC
8,816,995
0.7
59,239
Emerson
Electric
Co.
5,720,710
0.5
24,070
FedEx
Corp.
6,376,625
0.5
25,405
General
Dynamics
Corp.
5,613,743
0.4
112,548
General
Electric
Co.
12,442,181
1.0
60,202
Honeywell
International,
Inc.
11,121,718
0.9
5,824
Illinois
Tool
Works,
Inc.
1,341,326
0.1
71,298
Johnson
Controls
International
PLC
3,793,767
0.3
19,628
L3Harris
Technologies,
Inc.
3,417,627
0.3
23,582
Norfolk
Southern
Corp.
4,644,003
0.4
14,012
Northrop
Grumman
Corp.
6,167,942
0.5
151,703
Raytheon
Technologies
Corp.
10,918,065
0.9
36,196
Union
Pacific
Corp.
7,370,592
0.6
54,354
United
Parcel
Service,
Inc.
-
Class
B
8,472,158
0.7
4,253
Waste
Management,
Inc.
648,327
0.0
123,293,749
9.9
Information
Technology
:
8.8%
71,720
(1)
Advanced
Micro
Devices,
Inc.
7,374,250
0.6
52,480
Analog
Devices,
Inc.
9,188,723
0.7
13,583
Applied
Materials,
Inc.
1,880,566
0.2
425,678
Cisco
Systems,
Inc.
22,884,449
1.9
433,398
Intel
Corp.
15,407,299
1.2
94,328
International
Business
Machines
Corp.
13,234,218
1.1
736
Lam
Research
Corp.
461,303
0.0
113,453
Micron
Technology,
Inc.
7,718,208
0.6
1,368
Motorola
Solutions,
Inc.
372,424
0.0
92,974
Oracle
Corp.
9,847,806
0.8
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Information
Technology:
(continued)
10,930
(1)
PayPal
Holdings,
Inc.
$
638,968
0.1
14,825
Qualcomm,
Inc.
1,646,465
0.1
10,970
Roper
Technologies,
Inc.
5,312,552
0.4
24,173
(1)
Salesforce,
Inc.
4,901,801
0.4
55,789
Texas
Instruments,
Inc.
8,871,009
0.7
109,740,041
8.8
Materials
:
3.1%
23,021
Air
Products
and
Chemicals,
Inc.
6,524,152
0.5
73,440
Dow,
Inc.
3,786,566
0.3
5,710
Ecolab,
Inc.
967,274
0.1
148,269
Freeport-McMoRan,
Inc.
5,528,951
0.4
46,141
Linde
PLC
17,180,601
1.4
82,574
Newmont
Corp.
3,051,109
0.3
4,113
Sherwin-Williams
Co.
1,049,021
0.1
38,087,674
3.1
Real
Estate
:
1.6%
40,142
Crown
Castle,
Inc.
3,694,268
0.3
4,825
Equinix,
Inc.
3,504,205
0.3
95,772
Prologis,
Inc.
10,746,576
0.9
6,813
Public
Storage
1,795,362
0.1
19,740,411
1.6
Utilities
:
3.4%
53,456
American
Electric
Power
Co.,
Inc.
4,020,960
0.3
86,753
Dominion
Energy,
Inc.
3,875,256
0.3
80,016
Duke
Energy
Corp.
7,062,212
0.6
103,164
Exelon
Corp.
3,898,568
0.3
210,158
NextEra
Energy,
Inc.
12,039,952
1.0
65,389
Sempra
Energy
4,448,414
0.3
113,118
Southern
Co.
7,320,997
0.6
42,666,359
3.4
Total
Common
Stock
(Cost
$1,052,001,127)
1,238,459,087
99.5
EXCHANGE-TRADED
FUNDS
:
0.2%
33,671
iShares
Russell
Top
200
Value
ETF
2,201,073
0.2
Total
Exchange-Traded
Funds
(Cost
$2,277,748)
2,201,073
0.2
Total
Long-Term
Investments
(Cost
$1,054,278,875)
1,240,660,160
99.7
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
(continued)
3
Voya
Russell™
Large
Cap
Value
Index
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
0.2%
Mutual
Funds
:
0.2%
2,015,000
(2)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.270%
(Cost
$2,015,000)
$
2,015,000
0.2
Total
Short-Term
Investments
(Cost
$2,015,000)
$
2,015,000
0.2
Total
Investments
in
Securities
(Cost
$1,056,293,875)
$
1,242,675,160
99.9
Assets
in
Excess
of
Other
Liabilities
1,567,388
0.1
Net
Assets
$
1,244,242,548
100.0
(1)
Non-income
producing
security.
(2)
Rate
shown
is
the
7-day
yield
as
of
September
30,
2023.
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
(continued)
4
Voya
Russell™
Large
Cap
Value
Index
Portfolio
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
September
30,
2023
in
valuing
the
assets
and
liabilities:
Quoted
Prices
in
Active
Markets
for
Identical
Investments
(Level
1)
Significant
Other
Observable
Inputs
(Level
2)
Significant
Unobservable
Inputs
(Level
3)
Fair
Value
at
September
30,
2023
Asset
Table
Investments,
at
fair
value
Common
Stock*
$
1,238,459,087
$
—
$
—
$
1,238,459,087
Exchange-Traded
Funds
2,201,073
—
—
2,201,073
Short-Term
Investments
2,015,000
—
—
2,015,000
Total
Investments,
at
fair
value
$
1,242,675,160
$
—
$
—
$
1,242,675,160
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(180,612)
$
—
$
—
$
(180,612)
Total
Liabilities
$
(180,612)
$
—
$
—
$
(180,612)
*
For
further
breakdown
of
Common
Stock
by
sector,
please
refer
to
the
Portfolio
of
Investments.
+
Other
Financial
Instruments
may
include
open
forward
foreign
currency
contracts,
futures,
centrally
cleared
swaps,
OTC
swaps
and
written
options.
Forward
foreign
currency
contracts,
futures
and
centrally
cleared
swaps
are
fair
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
OTC
swaps
and
written
options
are
valued
at
the
fair
value
of
the
instrument.
At
September
30,
2023,
the
following
futures
contracts
were
outstanding
for
Voya
Russell™
Large
Cap
Value
Index
Portfolio:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Depreciation
Long
Contracts:
S&P
500
E-Mini
19
12/15/23
$
4,109,225
$
(180,612)
$
4,109,225
$
(180,612)
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
237,154,947
Gross
Unrealized
Depreciation
(50,773,663)
Net
Unrealized
Appreciation
$
186,381,284