PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
1
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
95
.8
%
Australia
:
7
.8
%
20,009
Ampol
Ltd.
$
431,997
0.0
253,312
ANZ
Group
Holdings
Ltd.
4,154,741
0
.3
106,145
APA
Group
564,674
0.0
49,554
Aristocrat
Leisure
Ltd.
1,294,671
0
.1
16,255
ASX
Ltd.
594,576
0
.1
154,553
Aurizon
Holdings
Ltd.
345,568
0.0
426,991
BHP
Group
Ltd.
-
Class
DI
11,994,539
0
.9
38,697
BlueScope
Steel
Ltd.
479,205
0.0
117,103
Brambles
Ltd.
1,075,772
0
.1
5,523
Cochlear
Ltd.
904,575
0
.1
112,811
Coles
Group
Ltd.
1,125,951
0
.1
141,282
Commonwealth
Bank
of
Australia
9,024,543
0
.7
48,343
Computershare
Ltd.
805,614
0
.1
40,658
CSL
Ltd.
6,550,131
0
.5
90,309
Dexus
420,975
0.0
12,870
EBOS
Group
Ltd.
263,652
0.0
120,302
Endeavour
Group
Ltd./
Australia
406,173
0.0
142,737
Fortescue
Metals
Group
Ltd.
1,897,411
0
.2
887,765
Glencore
PLC
5,055,419
0
.4
142,906
Goodman
Group
1,958,647
0
.2
160,839
GPT
Group
400,526
0.0
21,033
IDP
Education
Ltd.
287,841
0.0
57,225
IGO
Ltd.
459,233
0.0
205,704
Insurance
Australia
Group
Ltd.
746,202
0
.1
57,878
Lendlease
Corp.
Ltd.
265,430
0.0
186,884
(1)
Lottery
Corp.
Ltd.
564,766
0.0
30,947
Macquarie
Group
Ltd.
3,314,058
0
.3
231,237
Medibank
Pvt
Ltd.
510,371
0.0
14,753
(1)
Mineral
Resources
Ltd.
633,520
0
.1
331,310
Mirvac
Group
450,313
0.0
264,625
(1)
National
Australia
Bank
Ltd.
4,912,595
0
.4
75,374
Newcrest
Mining
Ltd.
1,187,634
0
.1
96,949
Northern
Star
Resources
Ltd.
643,766
0
.1
38,393
Orica
Ltd.
382,806
0.0
145,208
Origin
Energy
Ltd.
817,658
0
.1
227,442
(1)
Pilbara
Minerals
Ltd.
620,505
0
.1
71,222
(2)
Qantas
Airways
Ltd.
235,780
0.0
125,766
QBE
Insurance
Group
Ltd.
1,259,829
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Australia:
(continued)
15,394
Ramsay
Health
Care
Ltd.
$
510,934
0.0
4,437
REA
Group
Ltd.
438,209
0.0
18,984
(1)
Reece
Ltd.
225,973
0.0
31,289
Rio
Tinto
Ltd.
2,256,811
0
.2
94,899
Rio
Tinto
PLC
5,958,981
0
.5
273,750
Santos
Ltd.
1,379,982
0
.1
437,490
Scentre
Group
687,457
0
.1
30,025
(1)
SEEK
Ltd.
424,166
0.0
37,699
Sonic
Healthcare
Ltd.
719,861
0
.1
382,989
South32
Ltd.
-
Class
DI
826,953
0
.1
200,436
Stockland
501,645
0.0
106,755
Suncorp
Group
Ltd.
951,149
0
.1
340,867
Telstra
Group
Ltd.
842,161
0
.1
259,655
Transurban
Group
2,109,869
0
.2
60,609
Treasury
Wine
Estates
Ltd.
478,608
0.0
324,893
Vicinity
Ltd.
352,104
0.0
19,700
Washington
H
Soul
Pattinson
&
Co.
Ltd.
410,955
0.0
95,627
(1)
Wesfarmers
Ltd.
3,236,401
0
.3
295,775
Westpac
Banking
Corp.
3,998,158
0
.3
13,932
WiseTech
Global
Ltd.
578,323
0.0
160,043
Woodside
Energy
Group
Ltd.
3,721,175
0
.3
102,723
Woolworths
Group
Ltd.
2,459,314
0
.2
Austria
:
0
.2
%
28,982
Erste
Group
Bank
AG
1,000,948
0
.1
40,927
Mondi
PLC
682,743
0
.1
12,366
OMV
AG
590,657
0.0
5,717
Verbund
AG
465,087
0.0
9,745
voestalpine
AG
265,311
0.0
Belgium
:
0
.8
%
13,541
Ageas
SA
557,706
0
.1
73,213
Anheuser-Busch
InBev
SA
4,058,649
0
.3
1,826
(1)
D'ieteren
Group
307,852
0.0
2,469
Elia
Group
SA
241,619
0.0
8,037
Groupe
Bruxelles
Lambert
NV
598,035
0
.1
21,098
KBC
Group
NV
1,313,490
0
.1
34
Lotus
Bakeries
NV
276,429
0.0
1,294
Sofina
SA
261,536
0.0
6,247
Solvay
SA
690,352
0
.1
10,657
UCB
SA
872,907
0
.1
17,585
(1)
Umicore
SA
416,353
0.0
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
2
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Belgium:
(continued)
13,966
Warehouses
De
Pauw
CVA
$
345,152
0.0
Brazil
:
0.0
%
13,902
Yara
International
ASA
524,935
0.0
Burkina
Faso
:
0.0
%
15,587
Endeavour
Mining
PLC
300,892
0.0
Chile
:
0.0
%
33,111
Antofagasta
PLC
574,803
0.0
China
:
0
.5
%
312,000
BOC
Hong
Kong
Holdings
Ltd.
851,720
0
.1
144,600
(3)
Budweiser
Brewing
Co.
APAC
Ltd.
284,170
0.0
184,600
(1)(3)
ESR
Group
Ltd.
258,065
0.0
128,847
(2)
Prosus
NV
3,796,610
0
.3
113,000
SITC
International
Holdings
Co.
Ltd.
189,592
0.0
700,000
(3)
WH
Group
Ltd.
366,393
0.0
161,300
Wilmar
International
Ltd.
438,944
0
.1
139,000
(1)
Xinyi
Glass
Holdings
Ltd.
179,112
0.0
Denmark
:
3
.2
%
260
AP
Moller
-
Maersk
A/S
-
Class
A
460,122
0.0
409
AP
Moller
-
Maersk
A/S
-
Class
B
735,748
0
.1
8,300
Carlsberg
AS
-
Class
B
1,046,506
0
.1
8,857
(1)
Chr
Hansen
Holding
A/S
541,809
0.0
11,513
Coloplast
A/S
-
Class
B
1,218,271
0
.1
58,138
Danske
Bank
A/S
1,349,150
0
.1
8,494
(2)
Demant
A/S
350,728
0.0
15,690
(1)
DSV
A/S
2,923,686
0
.2
5,566
(2)
Genmab
A/S
1,970,646
0
.2
275,066
(1)
Novo
Nordisk
A/S
-
Class
B
25,045,107
2
.0
17,240
(1)
Novozymes
A/S
-
Class
B
693,649
0
.1
15,945
(1)(3)
Orsted
AS
867,459
0
.1
7,127
Pandora
A/S
735,444
0
.1
767
(1)
Rockwool
A/S
-
Class
B
185,373
0.0
29,430
Tryg
A/S
538,551
0.0
85,120
(1)(2)
Vestas
Wind
Systems
A/S
1,821,048
0
.1
Finland
:
1
.1
%
11,943
Elisa
Oyj
553,835
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Finland:
(continued)
37,669
(1)
Fortum
Oyj
$
436,849
0.0
22,933
Kesko
Oyj
-
Class
B
410,873
0.0
28,649
Kone
Oyj
-
Class
B
1,207,271
0
.1
55,683
Metso
Oyj
583,940
0
.1
35,660
Neste
Oyj
1,207,755
0
.1
451,002
Nokia
Oyj
1,695,802
0
.1
272,406
Nordea
Bank
Abp
2,986,587
0
.2
9,076
Orion
Oyj
-
Class
B
356,558
0.0
38,763
Sampo
Oyj
-
Class
A
1,675,783
0
.1
48,847
(1)
Stora
Enso
Oyj
-
Class
R
612,218
0
.1
44,988
UPM-Kymmene
Oyj
1,540,428
0
.1
39,747
(1)
Wartsila
Oyj
Abp
450,490
0
.1
France
:
10
.7
%
15,629
Accor
SA
525,673
0.0
24,469
(2)
Adevinta
ASA
241,062
0.0
2,493
Aeroports
de
Paris
294,002
0.0
44,146
Air
Liquide
SA
7,435,581
0
.6
49,966
Airbus
SE
6,687,874
0
.5
24,140
(1)
Alstom
SA
573,740
0
.1
5,135
(3)
Amundi
SA
288,417
0.0
5,060
Arkema
SA
498,110
0.0
154,687
AXA
SA
4,589,389
0
.4
3,478
BioMerieux
336,464
0.0
88,434
BNP
Paribas
SA
5,623,189
0
.4
62,188
(1)
Bollore
SE
333,776
0.0
16,071
Bouygues
SA
561,916
0
.1
24,860
Bureau
Veritas
SA
616,431
0
.1
13,899
Capgemini
SE
2,425,289
0
.2
50,362
Carrefour
SA
864,973
0
.1
38,988
Cie
de
Saint-Gobain
2,333,448
0
.2
57,182
Cie
Generale
des
Etablissements
Michelin
SCA
1,750,168
0
.1
4,257
Covivio
SA/France
188,826
0.0
102,020
Credit
Agricole
SA
1,254,317
0
.1
54,272
Danone
SA
2,993,522
0
.2
1,739
Dassault
Aviation
SA
327,541
0.0
56,472
Dassault
Systemes
SE
2,097,507
0
.2
21,037
Edenred
1,315,991
0
.1
6,171
Eiffage
SA
585,737
0
.1
153,950
Engie
SA
2,361,004
0
.2
24,852
EssilorLuxottica
SA
4,322,896
0
.3
3,659
Eurazeo
SE
217,729
0.0
3,860
Gecina
SA
393,558
0.0
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
3
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
France:
(continued)
30,017
Getlink
SE
$
478,528
0.0
2,669
Hermes
International
4,865,129
0
.4
3,167
Ipsen
SA
414,946
0.0
6,275
Kering
SA
2,851,129
0
.2
18,064
Klepierre
SA
442,308
0.0
8,820
(3)
La
Francaise
des
Jeux
SAEM
286,471
0.0
22,490
Legrand
SA
2,066,523
0
.2
20,329
L'Oreal
SA
8,424,584
0
.7
23,274
LVMH
Moet
Hennessy
Louis
Vuitton
SE
17,567,930
1
.4
156,949
Orange
SA
1,800,247
0
.1
17,237
Pernod
Ricard
SA
2,869,788
0
.2
19,292
Publicis
Groupe
SA
1,460,263
0
.1
1,919
(1)
Remy
Cointreau
SA
233,958
0.0
16,139
Renault
SA
660,351
0
.1
28,811
Safran
SA
4,514,950
0
.4
95,764
Sanofi
10,282,686
0
.8
2,322
Sartorius
Stedim
Biotech
552,412
0
.1
2,091
SEB
SA
195,063
0.0
61,311
Societe
Generale
SA
1,483,580
0
.1
7,457
Sodexo
SA
767,680
0
.1
4,983
Teleperformance
625,648
0
.1
8,859
Thales
SA
1,245,072
0
.1
189,518
(1)
TotalEnergies
SE
12,460,688
1
.0
9,962
(2)
Unibail-Rodamco-
Westfield
489,886
0.0
17,379
Valeo
298,223
0.0
57,284
Veolia
Environnement
SA
1,655,861
0
.1
44,797
Vinci
SA
4,955,939
0
.4
57,076
Vivendi
SE
499,878
0.0
2,237
Wendel
SE
176,823
0.0
20,249
(2)(3)
Worldline
SA/France
568,415
0
.1
Germany
:
7
.5
%
13,655
adidas
AG
2,395,206
0
.2
33,995
Allianz
SE
8,090,003
0
.6
75,342
BASF
SE
3,410,352
0
.3
82,807
Bayer
AG
3,976,758
0
.3
25,371
Bayerische
Motoren
Werke
AG
2,576,861
0
.2
6,877
Bechtle
AG
320,264
0.0
8,496
Beiersdorf
AG
1,095,892
0
.1
12,371
Brenntag
SE
957,227
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Germany:
(continued)
3,379
Carl
Zeiss
Meditec
AG
-
Class
BR
$
294,557
0.0
89,726
Commerzbank
AG
1,018,332
0
.1
9,272
Continental
AG
651,470
0
.1
16,285
(2)(3)
Covestro
AG
875,725
0
.1
41,619
Daimler
Truck
Holding
AG
1,441,027
0
.1
163,371
Deutsche
Bank
AG
1,795,492
0
.1
16,015
Deutsche
Boerse
AG
2,765,739
0
.2
50,189
(2)
Deutsche
Lufthansa
AG
397,166
0.0
83,551
Deutsche
Post
AG,
Reg
3,390,127
0
.3
273,196
Deutsche
Telekom
AG,
Reg
5,730,780
0
.5
189,238
E.ON
SE
2,237,931
0
.2
17,607
Evonik
Industries
AG
321,155
0.0
17,312
Fresenius
Medical
Care
AG
&
Co.
KGaA
744,277
0
.1
35,606
Fresenius
SE
&
Co.
KGaA
1,105,931
0
.1
12,931
GEA
Group
AG
476,564
0.0
5,082
Hannover
Rueck
SE
1,115,086
0
.1
12,207
Heidelberg
Materials
AG
945,437
0
.1
13,078
(2)
HelloFresh
SE
388,606
0.0
8,725
Henkel
AG
&
Co.
KGaA
550,126
0.0
110,074
Infineon
Technologies
AG
3,645,734
0
.3
6,091
Knorr-Bremse
AG
386,153
0.0
6,223
(2)
LEG
Immobilien
SE
427,939
0.0
67,631
Mercedes-Benz
Group
AG
4,706,900
0
.4
10,894
Merck
KGaA
1,816,110
0
.1
4,537
MTU
Aero
Engines
AG
821,694
0
.1
11,503
Muenchener
Rueckversicherungs-
Gesellschaft
AG
in
Muenchen
4,479,876
0
.4
4,849
Nemetschek
SE
295,103
0.0
8,865
Puma
SE
548,144
0.0
430
Rational
AG
272,062
0.0
3,672
Rheinmetall
AG
944,628
0
.1
53,293
RWE
AG
1,978,226
0
.2
88,017
SAP
SE
11,393,100
0
.9
6,297
(3)
Scout24
SE
436,625
0.0
64,059
Siemens
AG,
Reg
9,154,592
0
.7
43,624
(2)
Siemens
Energy
AG
568,539
0
.1
23,769
(3)
Siemens
Healthineers
AG
1,202,281
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
4
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Germany:
(continued)
11,192
Symrise
AG
$
1,065,466
0
.1
5,318
Talanx
AG
336,576
0.0
74,927
Telefonica
Deutschland
Holding
AG
134,012
0.0
2,478
Volkswagen
AG
325,430
0.0
61,799
Vonovia
SE
1,480,599
0
.1
1,533
Wacker
Chemie
AG
218,911
0.0
18,810
(2)(3)
Zalando
SE
417,927
0.0
Hong
Kong
:
1
.9
%
973,600
AIA
Group
Ltd.
7,873,646
0
.6
166,500
CK
Asset
Holdings
Ltd.
874,557
0
.1
226,000
CK
Hutchison
Holdings
Ltd.
1,199,854
0
.1
50,000
CK
Infrastructure
Holdings
Ltd.
235,918
0.0
3,000
CK
Infrastructure
Holdings
Ltd.
14,155
0.0
138,500
CLP
Holdings
Ltd.
1,022,668
0
.1
4,619
(2)
Futu
Holdings
Ltd.,
ADR
267,024
0.0
151,000
Hang
Lung
Properties
Ltd.
206,592
0.0
64,500
Hang
Seng
Bank
Ltd.
800,283
0
.1
122,000
Henderson
Land
Development
Co.
Ltd.
320,367
0.0
318,000
HKT
Trust
&
HKT
Ltd.
-
Stapled
Security
331,601
0.0
944,000
(1)
Hong
Kong
&
China
Gas
Co.
Ltd.
656,823
0
.1
101,500
Hong
Kong
Exchanges
&
Clearing
Ltd.
3,766,946
0
.3
93,100
Hongkong
Land
Holdings
Ltd.
332,023
0.0
13,400
Jardine
Matheson
Holdings
Ltd.
625,110
0
.1
213,200
Link
REIT
1,042,449
0
.1
131,000
MTR
Corp.
Ltd.
517,504
0.0
127,000
New
World
Development
Co.
Ltd.
246,240
0.0
116,500
Power
Assets
Holdings
Ltd.
562,637
0
.1
308,000
Sino
Land
Co.
Ltd.
346,388
0.0
122,000
Sun
Hung
Kai
Properties
Ltd.
1,301,735
0
.1
36,500
Swire
Pacific
Ltd.
-
Class
A
245,846
0.0
98,200
Swire
Properties
Ltd.
204,229
0.0
116,000
Techtronic
Industries
Co.
Ltd.
1,119,816
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Hong
Kong:
(continued)
141,000
(1)
Wharf
Real
Estate
Investment
Co.
Ltd.
$
543,405
0.0
Ireland
:
0
.6
%
14,712
(2)
AerCap
Holdings
NV
922,001
0
.1
121,402
AIB
Group
PLC
544,150
0.0
89,859
Bank
of
Ireland
Group
PLC
878,427
0
.1
14,884
(2)
Flutter
Entertainment
PLC
-
Class
DI
2,428,033
0
.2
13,435
Kerry
Group
PLC
-
Class
A
1,122,554
0
.1
13,035
Kingspan
Group
PLC
973,496
0
.1
21,928
Smurfit
Kappa
Group
PLC
728,443
0.0
Israel
:
0
.6
%
3,563
Azrieli
Group
Ltd.
182,899
0.0
107,081
Bank
Hapoalim
BM
954,049
0
.1
129,624
(1)
Bank
Leumi
Le-Israel
BM
1,074,045
0
.1
7,889
(2)
Check
Point
Software
Technologies
Ltd.
1,051,446
0
.1
2,234
Elbit
Systems
Ltd.
442,792
0.0
7,615
(2)
Global-e
Online
Ltd.
302,620
0.0
64,951
ICL
Group
Ltd.
358,406
0.0
103,864
Israel
Discount
Bank
Ltd.
-
Class
A
562,959
0
.1
12,957
Mizrahi
Tefahot
Bank
Ltd.
470,531
0.0
5,334
(2)
Nice
Ltd.
909,762
0
.1
94,435
(2)
Teva
Pharmaceutical
Industries
Ltd.,
ADR
963,237
0
.1
4,532
(2)
Wix.com
Ltd.
416,038
0.0
Italy
:
2
.1
%
10,455
(1)
Amplifon
SpA
309,479
0.0
85,429
Assicurazioni
Generali
SpA
1,743,812
0
.1
18,625
Coca-Cola
HBC
AG
-
Class
DI
509,281
0.0
43,890
Davide
Campari-Milano
NV
516,688
0.0
1,886
(1)
DiaSorin
SpA
171,744
0.0
685,549
Enel
SpA
4,204,298
0
.3
199,187
Eni
SpA
3,199,702
0
.3
10,625
Ferrari
NV
3,132,096
0
.2
51,469
FinecoBank
Banca
Fineco
SpA
621,502
0
.1
28,218
(1)(3)
Infrastrutture
Wireless
Italiane
SpA
335,297
0.0
1,309,878
Intesa
Sanpaolo
SpA
3,354,884
0
.3
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
5
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Italy:
(continued)
46,350
(1)
Mediobanca
Banca
di
Credito
Finanziario
SpA
$
611,083
0
.1
17,361
(1)
Moncler
SpA
1,006,157
0
.1
49,559
(2)(3)
Nexi
SpA
301,967
0.0
43,866
(3)
Poste
Italiane
SpA
460,651
0.0
22,135
Prysmian
SpA
888,461
0
.1
8,779
Recordati
Industria
Chimica
e
Farmaceutica
SpA
413,713
0.0
169,969
Snam
SpA
797,541
0
.1
836,629
(1)(2)
Telecom
Italia
SpA/
Milano
260,916
0.0
118,594
Terna
-
Rete
Elettrica
Nazionale
891,998
0
.1
155,406
UniCredit
SpA
3,702,765
0
.3
Japan
:
22
.1
%
64,800
Advantest
Corp.
1,807,500
0
.1
55,100
Aeon
Co.
Ltd.
1,091,427
0
.1
16,300
AGC,
Inc.
571,273
0
.1
12,400
Aisin
Corp.
468,534
0.0
38,000
Ajinomoto
Co.,
Inc.
1,465,228
0
.1
13,400
(2)
ANA
Holdings,
Inc.
280,570
0.0
40,600
Asahi
Group
Holdings
Ltd.
1,516,595
0
.1
18,200
Asahi
Intecc
Co.
Ltd.
326,297
0.0
105,700
Asahi
Kasei
Corp.
665,326
0
.1
152,500
Astellas
Pharma,
Inc.
2,110,848
0
.2
9,700
Azbil
Corp.
296,330
0.0
50,500
Bandai
Namco
Holdings,
Inc.
1,027,194
0
.1
11,100
BayCurrent
Consulting,
Inc.
369,883
0.0
48,100
Bridgestone
Corp.
1,874,359
0
.2
19,500
Brother
Industries
Ltd.
314,107
0.0
84,300
Canon,
Inc.
2,030,672
0
.2
14,600
Capcom
Co.
Ltd.
525,479
0
.1
61,000
Central
Japan
Railway
Co.
1,483,398
0
.1
44,500
Chiba
Bank
Ltd.
323,297
0.0
54,300
Chubu
Electric
Power
Co.,
Inc.
691,233
0
.1
56,600
Chugai
Pharmaceutical
Co.
Ltd.
1,745,207
0
.1
89,000
Concordia
Financial
Group
Ltd.
405,441
0.0
36,100
CyberAgent,
Inc.
194,328
0.0
18,400
Dai
Nippon
Printing
Co.
Ltd.
478,734
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
25,500
Daifuku
Co.
Ltd.
$
481,354
0.0
79,300
Dai-ichi
Life
Holdings,
Inc.
1,637,094
0
.1
155,900
Daiichi
Sankyo
Co.
Ltd.
4,268,125
0
.3
22,200
Daikin
Industries
Ltd.
3,480,332
0
.3
5,300
Daito
Trust
Construction
Co.
Ltd.
558,268
0
.1
50,300
Daiwa
House
Industry
Co.
Ltd.
1,350,022
0
.1
185
Daiwa
House
REIT
Investment
Corp.
326,404
0.0
112,000
Daiwa
Securities
Group,
Inc.
645,855
0
.1
146,000
Denso
Corp.
2,342,698
0
.2
17,000
Dentsu
Group,
Inc.
499,999
0.0
7,800
Disco
Corp.
1,441,098
0
.1
25,500
East
Japan
Railway
Co.
1,459,287
0
.1
21,300
Eisai
Co.
Ltd.
1,180,527
0
.1
242,900
ENEOS
Holdings,
Inc.
956,088
0
.1
80,500
FANUC
Corp.
2,093,598
0
.2
14,800
Fast
Retailing
Co.
Ltd.
3,223,665
0
.3
10,700
Fuji
Electric
Co.
Ltd.
481,882
0.0
31,500
FUJIFILM
Holdings
Corp.
1,822,294
0
.2
14,900
Fujitsu
Ltd.
1,752,405
0
.1
394
GLP
J-Reit
352,161
0.0
3,600
GMO
Payment
Gateway,
Inc.
196,429
0.0
18,100
Hakuhodo
DY
Holdings,
Inc.
148,674
0.0
11,800
Hamamatsu
Photonics
KK
496,234
0.0
19,300
Hankyu
Hanshin
Holdings,
Inc.
658,528
0
.1
1,700
Hikari
Tsushin,
Inc.
258,903
0.0
2,600
Hirose
Electric
Co.
Ltd.
300,749
0.0
9,000
Hitachi
Construction
Machinery
Co.
Ltd.
273,112
0.0
79,100
Hitachi
Ltd.
4,902,427
0
.4
389,400
Honda
Motor
Co.
Ltd.
4,380,632
0
.3
9,100
Hoshizaki
Corp.
315,900
0.0
29,800
Hoya
Corp.
3,052,041
0
.2
32,200
Hulic
Co.
Ltd.
288,732
0.0
9,500
Ibiden
Co.
Ltd.
503,884
0.0
16,300
Idemitsu
Kosan
Co.
Ltd.
373,679
0.0
13,300
Iida
Group
Holdings
Co.
Ltd.
220,706
0.0
81,800
Inpex
Corp.
1,226,864
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
6
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
49,000
Isuzu
Motors
Ltd.
$
616,009
0
.1
100,200
ITOCHU
Corp.
3,618,616
0
.3
12,100
Japan
Airlines
Co.
Ltd.
235,093
0.0
42,200
Japan
Exchange
Group,
Inc.
781,810
0
.1
587
Japan
Metropolitan
Fund
Invest
380,701
0.0
122,000
Japan
Post
Bank
Co.
Ltd.
1,061,625
0
.1
189,600
Japan
Post
Holdings
Co.
Ltd.
1,516,827
0
.1
16,800
Japan
Post
Insurance
Co.
Ltd.
282,548
0.0
108
Japan
Real
Estate
Investment
Corp.
420,848
0.0
101,100
Japan
Tobacco,
Inc.
2,326,113
0
.2
41,300
JFE
Holdings,
Inc.
604,810
0
.1
14,900
JSR
Corp.
399,727
0.0
35,500
Kajima
Corp.
577,870
0
.1
59,300
Kansai
Electric
Power
Co.,
Inc.
820,981
0
.1
39,300
Kao
Corp.
1,456,655
0
.1
11,600
Kawasaki
Kisen
Kaisha
Ltd.
395,860
0.0
126,200
KDDI
Corp.
3,863,042
0
.3
8,600
Keio
Corp.
295,652
0.0
10,900
Keisei
Electric
Railway
Co.
Ltd.
377,558
0.0
16,400
Keyence
Corp.
6,065,145
0
.5
11,400
Kikkoman
Corp.
597,506
0
.1
15,200
Kintetsu
Group
Holdings
Co.
Ltd.
430,961
0.0
65,500
Kirin
Holdings
Co.
Ltd.
917,029
0
.1
4,300
Kobayashi
Pharmaceutical
Co.
Ltd.
191,784
0.0
12,600
Kobe
Bussan
Co.
Ltd.
294,984
0.0
9,900
Koei
Tecmo
Holdings
Co.
Ltd.
140,655
0.0
17,600
Koito
Manufacturing
Co.
Ltd.
265,403
0.0
77,900
Komatsu
Ltd.
2,101,052
0
.2
8,500
Konami
Group
Corp.
448,158
0.0
2,800
Kose
Corp.
202,950
0.0
85,300
Kubota
Corp.
1,254,833
0
.1
8,800
Kurita
Water
Industries
Ltd.
306,230
0.0
27,100
Kyocera
Corp.
1,373,909
0
.1
22,700
Kyowa
Kirin
Co.
Ltd.
394,682
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
6,400
Lasertec
Corp.
$
995,280
0
.1
24,100
Lixil
Corp.
280,083
0.0
37,100
M3,
Inc.
672,947
0
.1
18,800
Makita
Corp.
463,593
0.0
121,700
Marubeni
Corp.
1,897,090
0
.2
28,800
MatsukiyoCocokara
&
Co.
515,895
0.0
47,700
Mazda
Motor
Corp.
541,609
0
.1
7,300
(1)
McDonald's
Holdings
Co.
Japan
Ltd.
278,928
0.0
19,800
MEIJI
Holdings
Co.
Ltd.
492,111
0.0
30,500
MINEBEA
MITSUMI,
Inc.
496,939
0.0
23,900
MISUMI
Group,
Inc.
372,182
0.0
107,500
Mitsubishi
Chemical
Group
Corp.
677,258
0
.1
96,900
Mitsubishi
Corp.
4,617,318
0
.4
162,900
Mitsubishi
Electric
Corp.
2,012,543
0
.2
94,900
Mitsubishi
Estate
Co.
Ltd.
1,238,067
0
.1
68,000
Mitsubishi
HC
Capital,
Inc.
453,089
0.0
27,000
Mitsubishi
Heavy
Industries
Ltd.
1,505,977
0
.1
962,500
Mitsubishi
UFJ
Financial
Group,
Inc.
8,156,375
0
.6
110,700
Mitsui
&
Co.
Ltd.
4,015,083
0
.3
14,300
Mitsui
Chemicals,
Inc.
370,486
0.0
75,000
Mitsui
Fudosan
Co.
Ltd.
1,651,801
0
.1
28,900
Mitsui
OSK
Lines
Ltd.
794,145
0
.1
203,300
Mizuho
Financial
Group,
Inc.
3,451,618
0
.3
21,000
MonotaRO
Co.
Ltd.
223,885
0.0
36,100
MS&AD
Insurance
Group
Holdings,
Inc.
1,321,055
0
.1
145,200
Murata
Manufacturing
Co.
Ltd.
2,648,762
0
.2
20,700
NEC
Corp.
1,143,109
0
.1
28,800
Nexon
Co.
Ltd.
514,617
0.0
19,600
NGK
Insulators
Ltd.
259,770
0.0
35,200
NIDEC
Corp.
1,625,305
0
.1
87,600
Nintendo
Co.
Ltd.
3,640,040
0
.3
129
Nippon
Building
Fund,
Inc.
522,390
0
.1
6,100
Nippon
Express
Holdings,
Inc.
318,297
0.0
79,600
Nippon
Paint
Holdings
Co.
Ltd.
534,604
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
7
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
191
Nippon
Prologis
REIT,
Inc.
$
356,591
0.0
14,500
Nippon
Sanso
Holdings
Corp.
343,309
0.0
72,100
Nippon
Steel
Corp.
1,689,169
0
.1
2,518,700
Nippon
Telegraph
&
Telephone
Corp.
2,981,223
0
.2
40,900
Nippon
Yusen
KK
1,061,962
0
.1
10,700
Nissan
Chemical
Corp.
454,851
0.0
195,700
Nissan
Motor
Co.
Ltd.
863,672
0
.1
5,200
Nissin
Foods
Holdings
Co.
Ltd.
432,083
0.0
6,800
Nitori
Holdings
Co.
Ltd.
758,169
0
.1
12,000
Nitto
Denko
Corp.
786,905
0
.1
253,300
Nomura
Holdings,
Inc.
1,014,322
0
.1
9,200
Nomura
Real
Estate
Holdings,
Inc.
230,971
0.0
356
Nomura
Real
Estate
Master
Fund,
Inc.
398,722
0.0
32,500
Nomura
Research
Institute
Ltd.
844,731
0
.1
53,200
NTT
Data
Group
Corp.
711,888
0
.1
54,500
Obayashi
Corp.
479,593
0.0
5,900
Obic
Co.
Ltd.
893,971
0
.1
26,400
Odakyu
Electric
Railway
Co.
Ltd.
394,463
0.0
72,400
Oji
Holdings
Corp.
304,603
0.0
106,700
Olympus
Corp.
1,385,338
0
.1
14,800
Omron
Corp.
658,622
0
.1
32,600
Ono
Pharmaceutical
Co.
Ltd.
625,215
0
.1
6,600
Open
House
Group
Co.
Ltd.
223,787
0.0
3,300
Oracle
Corp.
Japan
244,448
0.0
92,000
Oriental
Land
Co.
Ltd./
Japan
3,018,304
0
.2
98,900
ORIX
Corp.
1,846,701
0
.2
31,500
Osaka
Gas
Co.
Ltd.
518,329
0.0
9,600
Otsuka
Corp.
406,162
0.0
32,900
Otsuka
Holdings
Co.
Ltd.
1,168,118
0
.1
32,000
Pan
Pacific
International
Holdings
Corp.
671,583
0
.1
186,200
Panasonic
Holdings
Corp.
2,101,783
0
.2
157,000
Persol
Holdings
Co.
Ltd.
255,002
0.0
125,400
Rakuten
Group,
Inc.
515,243
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
121,500
Recruit
Holdings
Co.
Ltd.
$
3,717,296
0
.3
107,300
(2)
Renesas
Electronics
Corp.
1,639,003
0
.1
180,400
Resona
Holdings,
Inc.
997,464
0
.1
46,100
Ricoh
Co.
Ltd.
397,749
0.0
29,600
Rohm
Co.
Ltd.
556,458
0
.1
20,600
SBI
Holdings,
Inc.
433,544
0.0
13,100
SCSK
Corp.
228,396
0.0
17,700
Secom
Co.
Ltd.
1,200,782
0
.1
24,200
(1)
Seiko
Epson
Corp.
380,051
0.0
32,400
Sekisui
Chemical
Co.
Ltd.
466,137
0.0
50,300
Sekisui
House
Ltd.
1,001,042
0
.1
63,500
Seven
&
i
Holdings
Co.
Ltd.
2,486,038
0
.2
26,900
SG
Holdings
Co.
Ltd.
344,370
0.0
21,900
(2)
Sharp
Corp./Japan
136,342
0.0
19,900
Shimadzu
Corp.
527,853
0
.1
6,500
Shimano,
Inc.
869,990
0
.1
47,000
Shimizu
Corp.
326,476
0.0
153,500
Shin-Etsu
Chemical
Co.
Ltd.
4,458,507
0
.4
22,000
Shionogi
&
Co.
Ltd.
981,298
0
.1
33,700
Shiseido
Co.
Ltd.
1,180,988
0
.1
39,500
Shizuoka
Financial
Group,
Inc.
321,904
0.0
4,800
SMC
Corp.
2,151,659
0
.2
242,200
SoftBank
Corp.
2,741,292
0
.2
86,700
SoftBank
Group
Corp.
3,652,284
0
.3
24,900
Sompo
Holdings,
Inc.
1,067,134
0
.1
106,300
Sony
Group
Corp.
8,692,745
0
.7
7,200
Square
Enix
Holdings
Co.
Ltd.
246,711
0.0
51,900
Subaru
Corp.
1,009,169
0
.1
29,400
SUMCO
Corp.
382,582
0.0
118,200
Sumitomo
Chemical
Co.
Ltd.
321,494
0.0
88,100
Sumitomo
Corp.
1,758,294
0
.1
60,200
Sumitomo
Electric
Industries
Ltd.
725,225
0
.1
20,800
Sumitomo
Metal
Mining
Co.
Ltd.
610,816
0
.1
107,100
Sumitomo
Mitsui
Financial
Group,
Inc.
5,261,400
0
.4
27,800
Sumitomo
Mitsui
Trust
Holdings,
Inc.
1,046,588
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
8
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
24,000
Sumitomo
Realty
&
Development
Co.
Ltd.
$
623,077
0
.1
11,700
Suntory
Beverage
&
Food
Ltd.
356,065
0.0
31,000
Suzuki
Motor
Corp.
1,246,851
0
.1
14,100
Sysmex
Corp.
669,992
0
.1
42,200
T&D
Holdings,
Inc.
693,979
0
.1
14,300
Taisei
Corp.
503,303
0.0
133,400
Takeda
Pharmaceutical
Co.
Ltd.
4,134,935
0
.3
32,800
TDK
Corp.
1,212,625
0
.1
56,700
Terumo
Corp.
1,500,897
0
.1
18,500
TIS,
Inc.
406,800
0.0
15,900
Tobu
Railway
Co.
Ltd.
408,655
0.0
9,400
Toho
Co.
Ltd./Tokyo
320,687
0.0
151,900
Tokio
Marine
Holdings,
Inc.
3,517,047
0
.3
128,200
(2)
Tokyo
Electric
Power
Co.
Holdings,
Inc.
571,856
0
.1
39,800
Tokyo
Electron
Ltd.
5,436,372
0
.4
32,900
Tokyo
Gas
Co.
Ltd.
745,930
0
.1
42,100
Tokyu
Corp.
485,394
0.0
20,800
TOPPAN,
Inc.
497,564
0.0
116,900
Toray
Industries,
Inc.
608,238
0
.1
21,800
Tosoh
Corp.
279,500
0.0
11,100
TOTO
Ltd.
286,434
0.0
12,400
Toyota
Industries
Corp.
976,072
0
.1
893,900
Toyota
Motor
Corp.
16,036,860
1
.3
17,900
Toyota
Tsusho
Corp.
1,052,807
0
.1
11,300
Trend
Micro,
Inc./Japan
427,743
0.0
34,000
Unicharm
Corp.
1,202,163
0
.1
17,300
USS
Co.
Ltd.
285,992
0.0
7,900
Welcia
Holdings
Co.
Ltd.
136,425
0.0
18,500
West
Japan
Railway
Co.
765,545
0
.1
21,600
Yakult
Honsha
Co.
Ltd.
524,598
0
.1
11,800
Yamaha
Corp.
322,277
0.0
25,000
Yamaha
Motor
Co.
Ltd.
657,175
0
.1
22,400
Yamato
Holdings
Co.
Ltd.
364,588
0.0
20,200
Yaskawa
Electric
Corp.
727,423
0
.1
19,200
Yokogawa
Electric
Corp.
370,574
0.0
225,200
Z
Holdings
Corp.
624,730
0
.1
7,800
Zensho
Holdings
Co.
Ltd.
338,712
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan:
(continued)
11,800
ZOZO,
Inc.
$
216,072
0.0
Jordan
:
0.0
%
13,898
Hikma
Pharmaceuticals
PLC
352,917
0.0
Luxembourg
:
0
.1
%
43,129
ArcelorMittal
SA
1,079,780
0
.1
11,376
(1)
Eurofins
Scientific
SE
641,119
0.0
Macao
:
0
.1
%
184,000
Galaxy
Entertainment
Group
Ltd.
1,100,986
0
.1
204,000
(1)(2)
Sands
China
Ltd.
620,360
0.0
Netherlands
:
5
.3
%
33,912
(3)
ABN
AMRO
Bank
NV
479,263
0.0
1,830
(2)(3)
Adyen
NV
1,356,825
0
.1
142,241
(1)
Aegon
Ltd.
685,561
0
.1
14,379
Akzo
Nobel
NV
1,036,704
0
.1
4,716
(1)(2)
Argenx
SE
2,305,311
0
.2
3,958
ASM
International,
N.V.
1,652,832
0
.1
33,980
ASML
Holding
NV
20,005,739
1
.6
13,473
ASR
Nederland
NV
504,121
0.0
6,498
BE
Semiconductor
Industries
NV
635,546
0
.1
7,194
(3)
Euronext
NV
500,409
0.0
9,141
EXOR
NV
808,509
0
.1
43,123
(1)
Ferrovial
SE
1,317,710
0
.1
10,925
Heineken
Holding
NV
823,322
0
.1
24,275
Heineken
NV
2,140,121
0
.2
4,785
(1)
IMCD
NV
604,990
0.0
305,084
ING
Groep
NV
4,021,028
0
.3
10,553
(1)
JDE
Peet's
NV
294,772
0.0
81,922
Koninklijke
Ahold
Delhaize
NV
2,469,104
0
.2
272,240
Koninklijke
KPN
NV
896,940
0
.1
78,275
(2)
Koninklijke
Philips,
N.V.
1,561,763
0
.1
21,135
NN
Group
NV
677,550
0
.1
8,858
OCI
NV
246,315
0.0
9,268
(1)
Randstad
NV
512,021
0.0
565,101
Shell
PLC
17,910,545
1
.4
69,061
(1)
Universal
Music
Group
NV
1,802,229
0
.1
21,706
Wolters
Kluwer
NV
2,628,065
0
.2
New
Zealand
:
0
.2
%
105,114
Auckland
International
Airport
Ltd.
498,332
0.0
48,647
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
627,211
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
9
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
New
Zealand:
(continued)
58,220
Mercury
NZ
Ltd.
$
212,732
0.0
108,446
Meridian
Energy
Ltd.
333,512
0.0
157,127
Spark
New
Zealand
Ltd.
452,345
0.0
12,122
(2)
Xero
Ltd.
871,788
0
.1
Norway
:
0
.6
%
26,636
Aker
BP
ASA
735,475
0
.1
78,105
DNB
Bank
ASA
1,569,268
0
.1
75,938
Equinor
ASA
2,488,644
0
.2
16,793
Gjensidige
Forsikring
ASA
246,412
0.0
7,444
Kongsberg
Gruppen
ASA
306,794
0.0
36,952
Mowi
ASA
653,137
0.0
112,919
Norsk
Hydro
ASA
706,629
0
.1
63,063
Orkla
ASA
471,014
0.0
6,093
Salmar
ASA
308,601
0.0
58,752
Telenor
ASA
666,285
0
.1
Portugal
:
0
.2
%
264,499
EDP
-
Energias
de
Portugal
SA
1,099,773
0
.1
41,316
Galp
Energia
SGPS
SA
611,978
0
.1
23,777
Jeronimo
Martins
SGPS
SA
533,989
0.0
Singapore
:
1
.4
%
314,600
CapitaLand
Ascendas
REIT
630,986
0
.1
448,500
CapitaLand
Integrated
Commercial
Trust
605,258
0
.1
218,400
CapitaLand
Investment
Ltd./Singapore
493,487
0.0
42,000
City
Developments
Ltd.
202,687
0.0
152,700
DBS
Group
Holdings
Ltd.
3,750,259
0
.3
507,700
Genting
Singapore
Ltd.
313,423
0.0
157,920
(2)
Grab
Holdings
Ltd.
-
Class
A
559,037
0
.1
8,300
Jardine
Cycle
&
Carriage
Ltd.
193,508
0.0
122,300
Keppel
Corp.
Ltd.
607,321
0
.1
290,200
Mapletree
Logistics
Trust
355,767
0.0
198,000
Mapletree
Pan
Asia
Commercial
Trust
206,641
0.0
285,400
Oversea-Chinese
Banking
Corp.
Ltd.
2,669,076
0
.2
30,754
(2)
Sea
Ltd.,
ADR
1,351,638
0
.1
3,738,531
(2)
Seatrium
Ltd.
365,556
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Singapore:
(continued)
75,300
Sembcorp
Industries
Ltd.
$
279,882
0.0
125,500
Singapore
Airlines
Ltd.
592,011
0
.1
72,000
Singapore
Exchange
Ltd.
512,209
0.0
131,100
Singapore
Technologies
Engineering
Ltd.
374,140
0.0
696,000
Singapore
Telecommunications
Ltd.
1,231,987
0
.1
106,600
United
Overseas
Bank
Ltd.
2,220,277
0
.2
39,000
UOL
Group
Ltd.
182,425
0.0
South
Africa
:
0
.2
%
107,106
Anglo
American
PLC
2,941,107
0
.2
South
Korea
:
0.0
%
14,765
(2)(3)
Delivery
Hero
SE
421,592
0.0
Spain
:
2
.5
%
2,073
Acciona
SA
264,007
0.0
18,464
ACS
Actividades
de
Construccion
y
Servicios
SA
663,775
0
.1
6,322
(3)
Aena
SME
SA
951,319
0
.1
37,972
Amadeus
IT
Group
SA
2,293,611
0
.2
502,822
Banco
Bilbao
Vizcaya
Argentaria
SA
4,069,303
0
.3
1,364,140
Banco
Santander
SA
5,194,739
0
.4
347,790
CaixaBank
SA
1,385,593
0
.1
47,638
(3)
Cellnex
Telecom
SA
1,656,945
0
.1
5,529
Corp
ACCIONA
Energias
Renovables
SA
142,414
0.0
25,893
EDP
Renovaveis
SA
424,061
0.0
20,898
Enagas
SA
346,061
0.0
26,669
Endesa
SA
542,753
0
.1
25,046
(2)
Grifols
SA
324,393
0.0
513,742
Iberdrola
SA
5,745,921
0
.5
91,944
Industria
de
Diseno
Textil
SA
3,421,425
0
.3
10,584
Naturgy
Energy
Group
SA
287,940
0.0
34,073
Red
Electrica
Corp.
SA
536,014
0
.1
107,670
Repsol
SA
1,771,066
0
.1
436,420
Telefonica
SA
1,782,926
0
.1
Sweden
:
2
.8
%
24,325
Alfa
Laval
AB
833,323
0
.1
84,482
Assa
Abloy
AB
-
Class
B
1,835,673
0
.2
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
10
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Sweden:
(continued)
226,404
Atlas
Copco
AB
-
Class
A
$
3,040,759
0
.3
131,564
Atlas
Copco
AB
-
Class
B
1,538,648
0
.1
32,318
(1)
Beijer
Ref
AB
340,026
0.0
22,965
Boliden
AB
659,023
0
.1
55,547
Epiroc
AB
-
Class
A
1,054,685
0
.1
32,744
Epiroc
AB
-
Class
B
523,816
0
.1
29,859
(1)
EQT
AB
588,311
0
.1
51,342
Essity
AB
-
Class
B
1,107,306
0
.1
15,447
(3)
Evolution
AB
1,558,746
0
.1
54,742
(1)(2)
Fastighets
AB
Balder
245,398
0.0
19,206
Getinge
AB
-
Class
B
337,495
0.0
55,190
(1)
H
&
M
Hennes
&
Mauritz
AB
-
Class
B
782,606
0
.1
174,999
Hexagon
AB
-
Class
B
1,489,371
0
.1
7,877
Holmen
AB
-
Class
B
306,181
0.0
29,474
(1)
Husqvarna
AB
-
Class
B
224,921
0.0
10,930
Industrivarden
AB
-
Class
A
288,215
0.0
12,964
(1)
Industrivarden
AB
-
Class
C
341,616
0.0
22,942
Indutrade
AB
423,712
0.0
12,432
Investment
AB
Latour
-
Class
B
218,503
0.0
145,890
Investor
AB
-
Class
B
2,792,993
0
.2
6,381
L
E
Lundbergforetagen
AB
-
Class
B
266,064
0.0
19,573
Lifco
AB
-
Class
B
342,397
0.0
127,739
(1)
Nibe
Industrier
AB
-
Class
B
835,125
0
.1
6,724
Saab
AB
-
Class
B
342,222
0.0
16,626
Sagax
AB
-
Class
B
315,818
0.0
89,871
Sandvik
AB
1,653,658
0
.1
41,294
(1)
Securitas
AB
-
Class
B
326,517
0.0
133,755
Skandinaviska
Enskilda
Banken
AB
-
Class
A
1,594,608
0
.1
28,567
Skanska
AB
-
Class
B
469,086
0
.1
28,611
SKF
AB
-
Class
B
474,987
0
.1
51,068
(1)
Svenska
Cellulosa
AB
SCA
-
Class
B
699,229
0
.1
122,942
Svenska
Handelsbanken
AB
-
Class
A
1,093,925
0
.1
71,561
Swedbank
AB
-
Class
A
1,315,392
0
.1
16,495
(1)(2)
Swedish
Orphan
Biovitrum
AB
337,038
0.0
44,856
(1)
Tele2
AB
-
Class
B
343,036
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Sweden:
(continued)
246,820
(1)
Telefonaktiebolaget
LM
Ericsson
-
Class
B
$
1,202,448
0
.1
198,859
(1)
Telia
Co.
AB
410,186
0.0
16,813
Volvo
AB
-
Class
A
349,149
0.0
127,195
Volvo
AB
-
Class
B
2,619,917
0
.2
50,034
(1)(2)
Volvo
Car
AB
-
Class
B
202,379
0.0
Switzerland
:
9
.6
%
134,837
ABB
Ltd.,
Reg
4,812,766
0
.4
13,435
(1)
Adecco
Group
AG
551,818
0.0
42,119
Alcon,
Inc.
3,250,216
0
.3
2,834
(1)
Bachem
Holding
AG
209,033
0.0
3,846
Baloise
Holding
AG,
Reg
556,810
0.0
2,529
(1)
Banque
Cantonale
Vaudoise
264,640
0.0
300
Barry
Callebaut
AG
477,073
0.0
1,773
BKW
AG
312,122
0.0
9
Chocoladefabriken
Lindt
&
Spruengli
AG
985,462
0
.1
81
Chocoladefabriken
Lindt
&
Spruengli
AG
-
Class
PC
900,116
0
.1
43,999
Cie
Financiere
Richemont
SA
5,358,342
0
.4
18,116
Clariant
AG
285,628
0.0
15,675
DSM-Firmenich
AG
1,324,582
0
.1
8,276
(2)
Dufry
AG,
Reg
314,206
0.0
589
(1)
EMS-Chemie
Holding
AG
399,135
0.0
2,818
(1)
Geberit
AG,
Reg
1,405,274
0
.1
778
Givaudan
SA,
Reg
2,533,039
0
.2
3,117
Helvetia
Holding
AG
435,409
0.0
43,932
Holcim
AG
2,812,039
0
.2
17,364
Julius
Baer
Group
Ltd.
1,111,433
0
.1
4,580
Kuehne
+
Nagel
International
AG
1,301,319
0
.1
13,861
Logitech
International
SA
953,615
0
.1
6,277
Lonza
Group
AG
2,903,408
0
.2
225,051
Nestle
SA
25,474,878
2
.0
172,769
Novartis
AG,
Reg
17,644,663
1
.4
1,913
Partners
Group
Holding
AG
2,147,525
0
.2
59,218
(1)
Roche
Holding
AG
16,166,580
1
.3
3,432
Schindler
Holding
AG
683,654
0
.1
1,971
Schindler
Holding
AG
(SCHN)
379,238
0.0
12,635
SGS
SA
1,060,401
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
11
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Switzerland:
(continued)
25,777
SIG
Group
AG
$
635,027
0
.1
12,336
Sika
AG,
Reg
3,125,461
0
.2
4,382
Sonova
Holding
AG,
Reg
1,037,117
0
.1
57,608
STMicroelectronics
NV
2,484,234
0
.2
9,408
Straumann
Holding
AG
1,197,440
0
.1
4,418
Swatch
Group
AG
215,771
0.0
2,430
Swatch
Group
AG
-
Class
BR
622,377
0
.1
2,488
Swiss
Life
Holding
AG
1,547,981
0
.1
6,442
(1)
Swiss
Prime
Site
AG
589,757
0.0
2,183
Swisscom
AG,
Reg
1,296,244
0
.1
5,355
Temenos
AG
374,530
0.0
277,224
UBS
Group
AG
6,828,635
0
.5
2,276
(1)(3)
VAT
Group
AG
812,176
0
.1
12,682
Zurich
Insurance
Group
AG
5,802,721
0
.5
United
Kingdom
:
11
.7
%
82,040
3i
Group
PLC
2,065,013
0
.2
168,087
abrdn
PLC
317,584
0.0
17,823
Admiral
Group
PLC
515,082
0.0
36,936
Ashtead
Group
PLC
2,239,910
0
.2
29,461
Associated
British
Foods
PLC
740,178
0
.1
130,637
AstraZeneca
PLC
17,621,013
1
.4
77,130
(3)
Auto
Trader
Group
PLC
579,556
0.0
230,805
Aviva
PLC
1,092,444
0
.1
256,941
BAE
Systems
PLC
3,122,326
0
.2
1,311,175
Barclays
PLC
2,527,211
0
.2
82,637
Barratt
Developments
PLC
443,072
0.0
9,043
Berkeley
Group
Holdings
PLC
451,606
0.0
1,462,559
BP
PLC
9,427,617
0
.7
179,075
British
American
Tobacco
PLC
5,622,756
0
.4
544,294
BT
Group
PLC
772,936
0
.1
28,485
Bunzl
PLC
1,014,465
0
.1
31,756
Burberry
Group
PLC
735,947
0
.1
469,020
Centrica
PLC
882,191
0
.1
86,253
CNH
Industrial
NV
1,047,081
0
.1
17,404
Coca-Cola
Europacific
Partners
PLC
1,087,402
0
.1
146,511
Compass
Group
PLC
3,566,333
0
.3
11,770
Croda
International
PLC
703,045
0
.1
8,291
DCC
PLC
464,213
0.0
189,399
Diageo
PLC
6,982,828
0
.5
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
Kingdom:
(continued)
53,837
Entain
PLC
$
610,613
0
.1
345,162
GSK
PLC
6,245,329
0
.5
32,000
Halma
PLC
753,948
0
.1
29,869
Hargreaves
Lansdown
PLC
280,919
0.0
1,666,186
HSBC
Holdings
PLC
13,038,631
1
.0
72,772
Imperial
Brands
PLC
1,476,293
0
.1
117,969
Informa
PLC
1,077,238
0
.1
14,188
InterContinental
Hotels
Group
PLC
1,049,271
0
.1
13,604
Intertek
Group
PLC
680,327
0
.1
139,638
(1)
J
Sainsbury
PLC
430,022
0.0
217,598
JD
Sports
Fashion
PLC
395,275
0.0
15,403
Johnson
Matthey
PLC
304,940
0.0
162,789
Kingfisher
PLC
441,912
0.0
59,150
Land
Securities
Group
PLC
423,992
0.0
503,862
Legal
&
General
Group
PLC
1,359,597
0
.1
5,428,321
Lloyds
Banking
Group
PLC
2,917,166
0
.2
35,782
London
Stock
Exchange
Group
PLC
3,586,306
0
.3
188,273
M&G
PLC
451,089
0.0
113,914
Melrose
Industries
PLC
649,359
0
.1
310,356
National
Grid
PLC
3,711,679
0
.3
489,904
NatWest
Group
PLC
1,401,407
0
.1
10,251
Next
PLC
909,183
0
.1
48,576
(2)
Ocado
Group
PLC
353,193
0.0
54,116
Pearson
PLC
570,969
0.0
26,818
Persimmon
PLC
351,224
0.0
63,002
Phoenix
Group
Holdings
PLC
369,230
0.0
232,065
Prudential
PLC
2,494,560
0
.2
60,478
Reckitt
Benckiser
Group
PLC
4,264,979
0
.3
159,773
RELX
PLC
5,390,763
0
.4
212,411
Rentokil
Initial
PLC
1,577,079
0
.1
709,432
(2)
Rolls-Royce
Holdings
PLC
1,900,853
0
.2
86,401
Sage
Group
PLC
1,039,748
0
.1
67,678
Schroders
PLC
334,417
0.0
98,066
Segro
PLC
857,498
0
.1
21,263
Severn
Trent
PLC
613,555
0
.1
73,616
Smith
&
Nephew
PLC
913,622
0
.1
29,575
Smiths
Group
PLC
582,275
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
12
Voya
VACS
Index
Series
I
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
Kingdom:
(continued)
6,218
Spirax-Sarco
Engineering
PLC
$
719,758
0
.1
91,904
SSE
PLC
1,800,993
0
.1
46,021
St
James's
Place
PLC
464,307
0.0
199,925
Standard
Chartered
PLC
1,838,828
0
.1
296,559
Taylor
Wimpey
PLC
422,949
0.0
604,219
Tesco
PLC
1,943,474
0
.2
212,094
Unilever
PLC
10,491,675
0
.8
57,475
United
Utilities
Group
PLC
664,128
0
.1
1,938,220
Vodafone
Group
PLC
1,816,899
0
.1
16,968
Whitbread
PLC
714,237
0
.1
51,622
(2)
Wise
PLC
-
Class
A
430,497
0.0
90,597
WPP
PLC
807,162
0
.1
United
States
:
2
.0
%
61,162
CRH
PLC
3,347,396
0
.3
3,520
(2)
CyberArk
Software
Ltd.
576,470
0.0
77,548
Experian
PLC
2,536,422
0
.2
467,022
Haleon
PLC
1,935,860
0
.1
37,117
(2)
James
Hardie
Industries
PLC
970,731
0
.1
1,831
(2)
Monday.com
Ltd.
291,532
0.0
19,221
(1)(2)
QIAGEN
NV
775,559
0
.1
2,698
Roche
Holding
AG
-
Class
BR
792,637
0
.1
45,869
Schneider
Electric
SE
7,558,853
0
.6
186,481
Stellantis
NV
3,570,819
0
.3
25,423
Swiss
Re
AG
2,610,952
0
.2
39,649
Tenaris
SA
626,294
0.0
Total
Common
Stock
(Cost
$1,283,214,299)
1,232,764,829
95
.8
PREFERRED
STOCK
:
0
.4
%
Germany
:
0
.4
%
4,988
Bayerische
Motoren
Werke
AG
464,286
0.0
9,598
(3)
Dr
Ing
hc
F
Porsche
AG
900,553
0
.1
14,266
Henkel
AG
&
Co.
KGaA
1,015,875
0
.1
12,907
Porsche
Automobil
Holding
SE
634,888
0.0
2,209
(1)
Sartorius
AG
748,175
0
.1
17,381
Volkswagen
AG
1,997,066
0
.1
Total
Preferred
Stock
(Cost
$6,923,659)
5,760,843
0
.4
Total
Long-Term
Investments
(Cost
$1,290,137,958)
1,238,525,672
96
.2
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
6
.6
%
Repurchase
Agreements
:
3
.7
%
11,048,995
(4)
Cantor
Fitzgerald,
Repurchase
Agreement
dated
09/29/2023,
5.320%,
due
10/02/2023
(Repurchase
Amount
$11,053,826,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
1.500%-
7.500%,
Market
Value
plus
accrued
interest
$11,269,975,
due
05/01/25-03/15/65)
$
11,048,995
0
.9
7,917,545
(4)
CF
Secured
LLC,
Repurchase
Agreement
dated
09/29/2023,
5.320%,
due
10/02/2023
(Repurchase
Amount
$7,921,007,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
0.000%-
7.166%,
Market
Value
plus
accrued
interest
$8,075,897,
due
11/15/23-08/20/72)
7,917,545
0
.6
2,534,393
(4)
HSBC
Securities
USA
Inc.,
Repurchase
Agreement
dated
09/29/2023,
5.290%,
due
10/02/2023
(Repurchase
Amount
$2,535,495,
collateralized
by
various
U.S.
Government
Securities,
0.000%-
4.375%,
Market
Value
plus
accrued
interest
$2,585,081,
due
02/29/24-02/15/53)
2,534,393
0
.2
10,810,709
(4)
Industrial
&
Comm.
Bank
of
China,
Repurchase
Agreement
dated
09/29/2023,
5.330%,
due
10/02/2023
(Repurchase
Amount
$10,815,445,
collateralized
by
various
U.S.
Government
Securities,
0.000%-
7.500%,
Market
Value
plus
accrued
interest
$11,026,923,
due
10/31/23-02/15/53)
10,810,709
0
.8
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
13
Voya
VACS
Index
Series
I
Portfolio
Principal
Amount†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
11,048,995
(4)
Mirae
Asset
Securities
USA
Inc.,
Repurchase
Agreement
dated
09/29/2023,
5.370%,
due
10/02/2023
(Repurchase
Amount
$11,053,872,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
1.500%-
7.449%,
Market
Value
plus
accrued
interest
$11,275,018,
due
02/15/25-04/20/71)
$
11,048,995
0
.9
3,812,939
(4)
Santander
US
Capital
Markets
LLC,
Repurchase
Agreement
dated
09/29/2023,
5.330%,
due
10/02/2023
(Repurchase
Amount
$3,814,609,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
0.000%-
5.972%,
Market
Value
plus
accrued
interest
$3,889,198,
due
10/01/27-06/01/62)
3,812,939
0
.3
Total
Repurchase
Agreements
(Cost
$47,173,576)
47,173,576
3
.7
Shares
RA
Value
Percentage
of
Net
Assets
Mutual
Funds
:
2
.9
%
37,457,000
(5)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.270%
(Cost
$37,457,000)
$
37,457,000
2
.9
Total
Short-Term
Investments
(Cost
$84,630,576)
84,630,576
6
.6
Total
Investments
in
Securities
(Cost
$1,374,768,534)
$
1,323,156,248
102
.8
Liabilities
in
Excess
of
Other
Assets
(
36,331,101
)
(2.8)
Net
Assets
$
1,286,825,147
100.0
ADR
American
Depositary
Receipt
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Security,
or
a
portion
of
the
security,
is
on
loan.
(2)
Non-income
producing
security.
(3)
Securities
with
purchases
pursuant
to
Rule
144A
or
section
4(a)(2),
under
the
Securities
Act
of
1933
and
may
not
be
resold
subject
to
that
rule
except
to
qualified
institutional
buyers.
(4)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
(5)
Rate
shown
is
the
7-day
yield
as
of
September
30,
2023.
Sector
Diversification
Percentage
of
Net
Assets
Financials
18
.4
%
Industrials
15
.3
Health
Care
12
.8
Consumer
Discretionary
11
.6
Consumer
Staples
9
.4
Information
Technology
7
.5
Materials
7
.2
Energy
4
.6
Communication
Services
4
.0
Utilities
3
.2
Real
Estate
2
.2
Short-Term
Investments
6
.6
Liabilities
in
Excess
of
Other
Assets
(
2
.8
)
Net
Assets
100
.0
%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
14
Voya
VACS
Index
Series
I
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
Australia
$
—
$
100,110,856
$
—
$
100,110,856
Austria
—
3,004,746
—
3,004,746
Belgium
276,429
9,663,651
—
9,940,080
Brazil
—
524,935
—
524,935
Burkina
Faso
—
300,892
—
300,892
Chile
—
574,803
—
574,803
China
—
6,364,606
—
6,364,606
Denmark
—
40,483,297
—
40,483,297
Finland
—
13,718,389
—
13,718,389
France
—
137,233,089
—
137,233,089
Germany
—
96,124,718
—
96,124,718
Hong
Kong
892,134
23,765,682
—
24,657,816
Ireland
922,001
6,675,103
—
7,597,104
Israel
2,733,341
4,955,443
—
7,688,784
Italy
—
27,434,035
—
27,434,035
Japan
278,928
283,949,730
—
284,228,658
Jordan
—
352,917
—
352,917
Luxembourg
—
1,720,899
—
1,720,899
Macao
—
1,721,346
—
1,721,346
Netherlands
294,772
67,582,523
—
67,877,295
New
Zealand
498,332
2,497,588
—
2,995,920
Norway
—
8,152,259
—
8,152,259
Portugal
—
2,245,740
—
2,245,740
Singapore
1,910,675
15,786,900
—
17,697,575
South
Africa
—
2,941,107
—
2,941,107
South
Korea
—
421,592
—
421,592
Spain
—
31,804,266
—
31,804,266
Sweden
—
35,724,508
—
35,724,508
Switzerland
—
123,583,895
—
123,583,895
United
Kingdom
1,700,957
148,244,220
—
149,945,177
United
States
4,215,398
21,378,127
—
25,593,525
Total
Common
Stock
13,722,967
1,219,041,862
—
1,232,764,829
Preferred
Stock
—
5,760,843
—
5,760,843
Short-Term
Investments
37,457,000
47,173,576
—
84,630,576
Total
Investments,
at
fair
value
$
51,179,967
$
1,271,976,281
$
—
$
1,323,156,248
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(
1,306,816
)
$
—
$
—
$
(
1,306,816
)
Total
Liabilities
$
(
1,306,816
)
$
—
$
—
$
(
1,306,816
)
#
The
earlier
close
of
the
foreign
markets
gives
rise
to
the
possibility
that
significant
events,
including
broad
market
moves,
may
have
occurred
in
the
interim
and
may
materially
affect
the
value
of
those
securities.
To
account
for
this,
the
Fund
may
frequently
value
many
of
its
foreign
equity
securities
using
fair
value
prices
based
on
third
party
vendor
modeling
tools
to
the
extent
available.
Accordingly,
a
portion
of
the
Fund’s
investments
are
categorized
as
Level
2
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.
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
15
Voya
VACS
Index
Series
I
Portfolio
At
September
30,
2023,
the
following
futures
contracts
were
outstanding
for
Voya
VACS
Index
Series
I
Portfolio:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Depreciation
Long
Contracts:
MSCI
EAFE
Index
445
12/15/23
$
45,423,375
$
(
1,306,816
)
$
45,423,375
$
(
1,306,816
)
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
52,853,195
Gross
Unrealized
Depreciation
(
104,465,481
)
Net
Unrealized
Depreciation
$
(
51,612,286
)