Ing Variable Portfolios NPORT-P Voya VACS Index Series SC Portfolio (Mar 2024 report)

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

1

Voya

VACS

Index

Series

SC

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

96

.9

%

Communication

Services

:

2

.1

%

9,439 

(1)

Advantage

Solutions,

Inc.

$

40,871

0.0

3,332 

(1)

AMC

Networks,

Inc.

- Class

A

40,417

0.0

1,402 

(1)

Anterix,

Inc.

47,121

0.0

10,859 

(1)

AST

SpaceMobile,

Inc.

31,491

0.0

5,746 

(1)

Atlanta

Braves

Holdings,

Inc.

- Class

C

224,439

0

.1

1,228 

ATN

International,

Inc.

38,688

0.0

2,476 

(1)

Bandwidth,

Inc.

- Class

A

45,212

0.0

2,823 

(1)

Boston

Omaha

Corp.

- Class

A

43,644

0.0

10,463 

(1)

Bumble,

Inc.

- Class

A

118,755

0

.1

3,762 

(1)

Cardlytics,

Inc.

54,511

0.0

9,771 

(1)

Cargurus,

Inc.

225,515

0

.1

6,971 

(1)

Cars.com,

Inc.

119,762

0

.1

11,194 

(1)

Cinemark

Holdings,

Inc.

201,156

0

.1

39,862 

(1)

Clear

Channel

Outdoor

Holdings,

Inc.

65,772

0.0

4,432 

Cogent

Communications

Holdings,

Inc.

289,543

0

.1

7,965 

(1)

Consolidated

Communications

Holdings,

Inc.

34,409

0.0

162 

(1)

Daily

Journal

Corp.

58,581

0.0

5,773 

(1)

DHI

Group,

Inc.

14,721

0.0

12,553 

(1)

EchoStar

Corp.

- Class

A

178,880

0

.1

8,210 

(1)

Eventbrite,

Inc.

- Class

A

44,991

0.0

2,283 

(1)

EverQuote,

Inc.

- Class

A

42,373

0.0

6,542 

(1)

EW

Scripps

Co.

- Class

A

25,710

0.0

29,343 

(1)

fuboTV,

Inc.

46,362

0.0

15,694 

(1)

Gannett

Co.,

Inc.

38,293

0.0

73,441 

(1)

Globalstar,

Inc.

107,958

0

.1

6,928 

(1)

Gogo,

Inc.

60,828

0.0

9,093 

Gray

Television,

Inc.

57,468

0.0

4,539 

(1)

Grindr,

Inc.

45,980

0.0

1,691 

IDT

Corp.

- Class

B

63,937

0.0

11,169 

(1)

iHeartMedia,

Inc.

- Class

A

23,343

0.0

4,636 

(1)

IMAX

Corp.

74,964

0.0

5,031 

(1)

Integral

Ad

Science

Holding

Corp.

50,159

0.0

3,728 

John

Wiley

&

Sons,

Inc.

- Class

A

142,149

0

.1

18,271 

(1)

Liberty

Latin

America

Ltd.

- Class

C

127,714

0

.1

6,379 

(1)

Lions

Gate

Entertainment

Corp.

- Class

A

63,471

0.0

12,182 

(1)

Lions

Gate

Entertainment

Corp.

- Class

B

113,414

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Communication

Services:

(continued)

104,224 

(1)

Lumen

Technologies,

Inc.

$

162,589

0

.1

4,115 

(1)

Madison

Square

Garden

Entertainment

Corp.

161,349

0

.1

14,010 

(1)

Magnite,

Inc.

150,608

0

.1

2,528 

Marcus

Corp.

36,049

0.0

2,418 

(1)

MediaAlpha,

Inc.

- Class

A

49,255

0.0

15,489 

(1)

Nextdoor

Holdings,

Inc.

34,850

0.0

2,778 

(1)

Ooma,

Inc.

23,696

0.0

4,430 

(1)

Outbrain,

Inc.

17,499

0.0

9,148 

(1)

Playstudios,

Inc.

25,431

0.0

4,358 

(1)

PubMatic,

Inc.

- Class

A

103,372

0

.1

5,486 

(1)

QuinStreet,

Inc.

96,883

0.0

2,706 

Scholastic

Corp.

102,043

0.0

5,313 

Shenandoah

Telecommunications

Co.

92,287

0.0

2,532 

Shutterstock,

Inc.

115,991

0

.1

3,527 

Sinclair,

Inc.

47,509

0.0

2,765 

(1)

Sphere

Entertainment

Co.

135,706

0

.1

1,847 

Spok

Holdings,

Inc.

29,460

0.0

8,551 

(1)

Stagwell,

Inc.

53,187

0.0

2,705 

(1)

TechTarget,

Inc.

89,481

0.0

19,936 

TEGNA,

Inc.

297,844

0

.1

10,168 

Telephone

and

Data

Systems,

Inc.

162,891

0

.1

3,493 

(1)

Thryv

Holdings,

Inc.

77,649

0.0

10,228 

(1)

TrueCar,

Inc.

34,673

0.0

16,004 

(1)

Vimeo,

Inc.

65,456

0.0

5,647 

(1)

Vivid

Seats,

Inc.

- Class

A

33,826

0.0

5,124 

(1)

WideOpenWest,

Inc.

18,549

0.0

6,685 

(1)

Yelp,

Inc.

263,389

0

.1

4,654 

(1)

Ziff

Davis,

Inc.

293,388

0

.1

7,110 

(1)

ZipRecruiter,

Inc.

- Class

A

81,694

0.0

5,859,206

2

.1

Consumer

Discretionary

:

10

.5

%

2,793 

(1)

1-800-Flowers.com,

Inc.

- Class

A

30,248

0.0

3,310 

Aaron's

Co.,

Inc.

24,825

0.0

4,975 

(1)

Abercrombie

&

Fitch

Co.

- Class

A

623,517

0

.2

7,367 

Academy

Sports

&

Outdoors,

Inc.

497,567

0

.2

5,973 

(1)

Accel

Entertainment,

Inc.

70,422

0.0

3,090 

Acushnet

Holdings

Corp.

203,785

0

.1

9,115 

(1)

Adient

PLC

300,066

0

.1

3,987 

(1)

Adtalem

Global

Education,

Inc.

204,932

0

.1

11,723 

(1)

Allbirds,

Inc.

- Class

A

8,137

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

2

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

11,890 

(1)

American

Axle

&

Manufacturing

Holdings,

Inc.

$

87,510

0.0

18,564 

American

Eagle

Outfitters,

Inc.

478,766

0

.2

623 

(1)

America's

Car-Mart,

Inc.

39,791

0.0

9,435 

(1)

AMMO,

Inc.

25,946

0.0

8,901 

Arko

Corp.

50,736

0.0

2,109 

(1)

Asbury

Automotive

Group,

Inc.

497,260

0

.2

8,561 

(1)

Atmus

Filtration

Technologies,

Inc.

276,092

0

.1

3,068 

(1)

Bally's

Corp.

42,768

0.0

12,777 

(1)

BARK,

Inc.

15,843

0.0

3,121 

(1)

Beazer

Homes

USA,

Inc.

102,369

0

.1

2,651 

Big

Lots,

Inc.

11,479

0.0

2,275 

(1)

BJ's

Restaurants,

Inc.

82,309

0.0

8,801 

Bloomin'

Brands,

Inc.

252,413

0

.1

3,029 

(1)

Boot

Barn

Holdings,

Inc.

288,209

0

.1

1,703 

(2)

Bowlero

Corp.

- Class

A

23,331

0.0

4,402 

(1)

Brinker

International,

Inc.

218,691

0

.1

3,172 

Buckle,

Inc.

127,736

0

.1

1,425 

Build-A-Bear

Workshop,

Inc.

42,565

0.0

3,603 

Caleres,

Inc.

147,831

0

.1

4,363 

Camping

World

Holdings,

Inc.

- Class

A

121,510

0

.1

6,601 

(1)

CarParts.com,

Inc.

10,694

0.0

1,432 

Carriage

Services,

Inc.

38,721

0.0

3,903 

Carrols

Restaurant

Group,

Inc.

37,118

0.0

10,452 

(1)

Carvana

Co.

918,835

0

.3

852 

(1)

Cavco

Industries,

Inc.

339,999

0

.1

2,889 

Century

Communities,

Inc.

278,788

0

.1

4,787 

Cheesecake

Factory,

Inc.

173,050

0

.1

11,771 

(1)

Chegg,

Inc.

89,106

0.0

1,232 

(1)

Children's

Place,

Inc.

14,217

0.0

1,894 

(1)

Chuy's

Holdings,

Inc.

63,885

0.0

2,807 

Clarus

Corp.

18,947

0.0

1,826 

(1)

ContextLogic,

Inc.

- Class

A

10,390

0.0

1,756 

(1)

Cooper-Standard

Holdings,

Inc.

29,079

0.0

13,269 

(1)

Coursera,

Inc.

186,031

0

.1

2,207 

Cracker

Barrel

Old

Country

Store,

Inc.

160,515

0

.1

4,962 

Cricut,

Inc.

- Class

A

23,619

0.0

13,150 

Dana,

Inc.

167,005

0

.1

3,439 

(1)

Dave

&

Buster's

Entertainment,

Inc.

215,281

0

.1

5,359 

(1)

Denny's

Corp.

48,017

0.0

4,580 

Designer

Brands,

Inc.

- Class

A

50,059

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

6,407 

(1)

Destination

XL

Group,

Inc.

$

23,065

0.0

347 

Dillard's,

Inc.

- Class

A

163,659

0

.1

1,645 

Dine

Brands

Global,

Inc.

76,460

0.0

2,708 

(1)

Dorman

Products,

Inc.

261,024

0

.1

2,557 

(1)

Dream

Finders

Homes,

Inc.

- Class

A

111,818

0

.1

2,989 

(1)

Duolingo,

Inc.

659,314

0

.2

2,886 

(1)

El

Pollo

Loco

Holdings,

Inc.

28,110

0.0

1,137 

Escalade,

Inc.

15,634

0.0

2,422 

Ethan

Allen

Interiors,

Inc.

83,729

0.0

3,605 

(1)(2)

European

Wax

Center,

Inc.

- Class

A

46,793

0.0

8,542 

(1)

Everi

Holdings,

Inc.

85,847

0.0

10,349 

(1)(2)

EVgo,

Inc.

25,976

0.0

13,314 

(1)

Figs,

Inc.

- Class

A

66,304

0.0

2,415 

(1)

First

Watch

Restaurant

Group,

Inc.

59,457

0.0

8,296 

Foot

Locker,

Inc.

236,436

0

.1

4,356 

(1)

Fox

Factory

Holding

Corp.

226,817

0

.1

8,177 

(1)

Frontdoor,

Inc.

266,407

0

.1

3,260 

(1)

Full

House

Resorts,

Inc.

18,158

0.0

3,799 

(1)

Funko,

Inc.

- Class

A

23,706

0.0

1,188 

(1)

Genesco,

Inc.

33,430

0.0

3,340 

(1)

Gentherm,

Inc.

192,317

0

.1

4,303 

(1)

G-III

Apparel

Group

Ltd.

124,830

0

.1

3,351 

(1)

Global

Business

Travel

Group

I

20,139

0.0

2,123 

Golden

Entertainment,

Inc.

78,190

0.0

28,531 

(1)

Goodyear

Tire

&

Rubber

Co.

391,731

0

.2

13,861 

(1)

GoPro,

Inc.

- Class

A

30,910

0.0

357 

Graham

Holdings

Co.

- Class

B

274,062

0

.1

2,645 

(1)

Green

Brick

Partners,

Inc.

159,308

0

.1

1,385 

Group

1

Automotive,

Inc.

404,739

0

.2

5,318 

(1)

GrowGeneration

Corp.

15,209

0.0

2,950 

Guess?,

Inc.

92,836

0.0

35,978 

(1)

Hanesbrands,

Inc.

208,672

0

.1

1,613 

Haverty

Furniture

Cos.,

Inc.

55,036

0.0

2,422 

(1)

Helen

of

Troy

Ltd.

279,111

0

.1

1,229 

Hibbett,

Inc.

94,399

0.0

8,041 

(1)

Hilton

Grand

Vacations,

Inc.

379,616

0

.1

5,504 

(1)

Holley,

Inc.

24,548

0.0

1,090 

Hooker

Furnishings

Corp.

26,171

0.0

513 

(1)

Hovnanian

Enterprises,

Inc.

- Class

A

80,510

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

3

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

2,257 

(1)

Inspired

Entertainment,

Inc.

$

22,254

0.0

2,409 

Installed

Building

Products,

Inc.

623,281

0

.2

11,027 

International

Game

Technology

PLC

249,100

0

.1

2,822 

(1)

iRobot

Corp.

24,721

0.0

1,995 

Jack

in

the

Box,

Inc.

136,618

0

.1

783 

(1)

JAKKS

Pacific,

Inc.

19,340

0.0

566 

Johnson

Outdoors,

Inc.

- Class

A

26,098

0.0

6,791 

KB

Home

481,346

0

.2

5,677 

Kontoor

Brands,

Inc.

342,039

0

.1

9,132 

(2)

Krispy

Kreme,

Inc.

139,126

0

.1

612 

(1)

Kura

Sushi

USA,

Inc.

- Class

A

70,478

0.0

1,576 

(1)

Lands'

End,

Inc.

17,163

0.0

2,132 

(1)

Landsea

Homes

Corp.

30,978

0.0

3,408 

(1)

Latham

Group,

Inc.

13,496

0.0

13,678 

Laureate

Education,

Inc.

199,288

0

.1

4,413 

La-Z-Boy,

Inc.

166,017

0

.1

2,518 

LCI

Industries

309,865

0

.1

1,132 

(1)

Legacy

Housing

Corp.

24,361

0.0

18,551 

(1)

Leslie's,

Inc.

120,581

0

.1

2,130 

(1)

LGI

Homes,

Inc.

247,868

0

.1

4,715 

(1)

Life

Time

Group

Holdings,

Inc.

73,177

0.0

9,166 

(1)

Light

&

Wonder,

Inc.

935,757

0

.3

2,702 

(1)

Lincoln

Educational

Services

Corp.

27,912

0.0

3,647 

(1)

Lindblad

Expeditions

Holdings,

Inc.

34,026

0.0

2,118 

(1)

Livewire

Group,

Inc.

15,313

0.0

1,493 

(1)

Lovesac

Co.

33,742

0.0

28,586 

(1)(2)

Luminar

Technologies,

Inc.

56,314

0.0

2,740 

(1)

M/I

Homes,

Inc.

373,435

0

.1

2,159 

(1)

Malibu

Boats,

Inc.

- Class

A

93,442

0.0

2,299 

(1)

MarineMax,

Inc.

76,465

0.0

1,871 

(1)

MasterCraft

Boat

Holdings,

Inc.

44,380

0.0

5,871 

MDC

Holdings,

Inc.

369,345

0

.1

3,667 

Meritage

Homes

Corp.

643,412

0

.2

5,238 

(1)

Modine

Manufacturing

Co.

498,605

0

.2

1,330 

Monarch

Casino

&

Resort,

Inc.

99,737

0.0

4,105 

(1)

Mondee

Holdings,

Inc.

9,483

0.0

3,153 

Monro,

Inc.

99,446

0.0

1,672 

Movado

Group,

Inc.

46,699

0.0

367 

Nathan's

Famous,

Inc.

25,984

0.0

8,067 

(1)

National

Vision

Holdings,

Inc.

178,765

0

.1

6,274 

(1)

Nerdy,

Inc.

18,257

0.0

3,325 

(1)

ODP

Corp.

176,391

0

.1

8,717 

(1)

OneSpaWorld

Holdings

Ltd.

115,326

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

1,323 

(1)

OneWater

Marine,

Inc.

- Class

A

$

37,242

0.0

4,598 

(1)

Overstock.com,

Inc.

165,114

0

.1

1,519 

(2)

Oxford

Industries,

Inc.

170,736

0

.1

3,280 

Papa

John's

International,

Inc.

218,448

0

.1

2,134 

Patrick

Industries,

Inc.

254,949

0

.1

6,885 

Perdoceo

Education

Corp.

120,901

0

.1

4,090 

(1)

PlayAGS,

Inc.

36,728

0.0

4,711 

(1)

Portillo's,

Inc.

- Class

A

66,802

0.0

2,822 

(1)

Potbelly

Corp.

34,174

0.0

5,223 

Purple

Innovation,

Inc.

9,088

0.0

957 

RCI

Hospitality

Holdings,

Inc.

55,506

0.0

1,503 

(1)(2)

Red

Robin

Gourmet

Burgers,

Inc.

11,513

0.0

4,801 

Red

Rock

Resorts,

Inc.

- Class

A

287,196

0

.1

5,450 

Rent-A-Center,

Inc.

191,894

0

.1

4,184 

(1)

Revolve

Group,

Inc.

88,575

0.0

648 

Rocky

Brands,

Inc.

17,580

0.0

6,946 

(1)

Rush

Street

Interactive,

Inc.

45,218

0.0

11,252 

(1)

Sally

Beauty

Holdings,

Inc.

139,750

0

.1

2,801 

(1)(2)

Savers

Value

Village,

Inc.

54,003

0.0

3,658 

(1)

SeaWorld

Entertainment,

Inc.

205,616

0

.1

3,834 

(1)

Shake

Shack,

Inc.

- Class

A

398,851

0

.2

2,067 

Shoe

Carnival,

Inc.

75,735

0.0

4,465 

Signet

Jewelers

Ltd.

446,813

0

.2

7,364 

(1)

Six

Flags

Entertainment

Corp.

193,820

0

.1

5,498 

(1)

Skyline

Champion

Corp.

467,385

0

.2

2,167 

(1)

Sleep

Number

Corp.

34,737

0.0

4,851 

Smith

&

Wesson

Brands,

Inc.

84,213

0.0

1,887 

(1)

Snap

One

Holdings

Corp.

16,266

0.0

16,446 

(1)

Solid

Power,

Inc.

33,385

0.0

1,581 

Sonic

Automotive,

Inc.

- Class

A

90,022

0.0

12,634 

(1)

Sonos,

Inc.

240,804

0

.1

3,875 

(1)

Sportsman's

Warehouse

Holdings,

Inc.

12,051

0.0

2,163 

Standard

Motor

Products,

Inc.

72,569

0.0

7,385 

Steven

Madden

Ltd.

312,238

0

.1

9,081 

(1)

Stitch

Fix,

Inc.

- Class

A

23,974

0.0

3,056 

(1)

Stoneridge,

Inc.

56,353

0.0

2,346 

Strategic

Education,

Inc.

244,266

0

.1

4,287 

(1)

Stride,

Inc.

270,295

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

4

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

1,888 

Sturm

Ruger

&

Co.,

Inc.

$

87,131

0.0

14,944 

(1)

Super

Group

SGHC

Ltd.

51,557

0.0

9,955 

(1)

Sweetgreen,

Inc.

- Class

A

251,463

0

.1

3,301 

(1)

Target

Hospitality

Corp.

35,882

0.0

10,387 

(1)

Taylor

Morrison

Home

Corp.

645,760

0

.2

6,720 

(1)

ThredUp,

Inc.

- Class

A

13,440

0.0

2,600 

(1)

Tilly's,

Inc.

- Class

A

17,680

0.0

14,733 

(1)

Topgolf

Callaway

Brands

Corp.

238,233

0

.1

4,437 

(1)

Traeger,

Inc.

11,226

0.0

9,645 

(1)

Tri

Pointe

Homes,

Inc.

372,876

0

.1

9,058 

(1)

Udemy,

Inc.

99,457

0.0

3,598 

(1)

Universal

Technical

Institute,

Inc.

57,352

0.0

6,523 

(1)

Urban

Outfitters,

Inc.

283,229

0

.1

2,787 

(1)

Vera

Bradley,

Inc.

18,952

0.0

6,013 

(1)

Vista

Outdoor,

Inc.

197,106

0

.1

2,775 

(1)

Visteon

Corp.

326,368

0

.1

7,936 

(1)

Vizio

Holding

Corp.

- Class

A

86,820

0.0

1,210 

(1)

VOXX

International

Corp.

9,874

0.0

8,881 

(1)

Warby

Parker,

Inc.

- Class

A

120,870

0

.1

293 

Winmark

Corp.

105,978

0

.1

2,889 

Winnebago

Industries,

Inc.

213,786

0

.1

8,034 

Wolverine

World

Wide,

Inc.

90,061

0.0

25,286 

(1)(2)

Workhorse

Group,

Inc.

5,932

0.0

5,399 

(1)

WW

International,

Inc.

9,988

0.0

2,361 

(1)

XPEL,

Inc.

127,541

0

.1

2,409 

(1)

Xponential

Fitness,

Inc.

- Class

A

39,845

0.0

1,795 

(1)

Zumiez,

Inc.

27,266

0.0

29,354,402

10

.5

Consumer

Staples

:

3

.2

%

3,326 

Andersons,

Inc.

190,813

0

.1

7,562 

(2)

B&G

Foods,

Inc.

86,509

0.0

8,397 

(1)

Beauty

Health

Co.

37,283

0.0

13,303 

(1)

BellRing

Brands,

Inc.

785,276

0

.3

6,080 

(1)(2)

Beyond

Meat,

Inc.

50,342

0.0

3,577 

(1)

BRC,

Inc.

- Class

A

15,310

0.0

1,882 

Calavo

Growers,

Inc.

52,338

0.0

4,175 

Cal-Maine

Foods,

Inc.

245,699

0

.1

562 

(1)

Central

Garden

&

Pet

Co.

24,070

0.0

5,767 

(1)

Central

Garden

&

Pet

Co.

- Class

A

212,918

0

.1

3,647 

(1)

Chefs'

Warehouse,

Inc.

137,346

0

.1

485 

Coca-Cola

Consolidated,

Inc.

410,509

0

.2

7,413 

Dole

PLC

88,437

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Staples:

(continued)

4,610 

(1)

Duckhorn

Portfolio,

Inc.

$

42,919

0.0

5,486 

(1)

e.l.f.

Beauty,

Inc.

1,075,421

0

.4

4,954 

Edgewell

Personal

Care

Co.

191,423

0

.1

7,292 

Energizer

Holdings,

Inc.

214,676

0

.1

3,596 

Fresh

Del

Monte

Produce,

Inc.

93,172

0.0

9,474 

(1)

Hain

Celestial

Group,

Inc.

74,466

0.0

10,225 

(1)

Herbalife

Ltd.

102,761

0.0

4,357 

(1)

HF

Foods

Group,

Inc.

15,249

0.0

1,492 

Ingles

Markets,

Inc.

- Class

A

114,407

0

.1

1,855 

Inter

Parfums,

Inc.

260,646

0

.1

1,836 

(1)

Ispire

Technology,

Inc.

11,255

0.0

1,536 

J

&

J

Snack

Foods

Corp.

222,044

0

.1

947 

John

B

Sanfilippo

&

Son,

Inc.

100,306

0.0

1,980 

Lancaster

Colony

Corp.

411,107

0

.2

1,971 

Limoneira

Co.

38,553

0.0

1,090 

Medifast,

Inc.

41,769

0.0

1,633 

MGP

Ingredients,

Inc.

140,650

0

.1

5,552 

(1)

Mission

Produce,

Inc.

65,902

0.0

2,520 

(1)

National

Beverage

Corp.

119,599

0

.1

1,454 

(1)

Nature's

Sunshine

Products,

Inc.

30,200

0.0

4,975 

Nu

Skin

Enterprises,

Inc.

- Class

A

68,804

0.0

552 

Oil-Dri

Corp.

of

America

41,157

0.0

2,585 

PriceSmart,

Inc.

217,140

0

.1

15,835 

Primo

Water

Corp.

288,355

0

.1

576 

(1)

Seneca

Foods

Corp.

- Class

A

32,774

0.0

9,288 

(1)

Simply

Good

Foods

Co.

316,071

0

.1

3,707 

SpartanNash

Co.

74,918

0.0

10,361 

(1)

Sprouts

Farmers

Market,

Inc.

668,077

0

.2

9,983 

(1)

SunOpta,

Inc.

68,583

0.0

5,205 

(1)

TreeHouse

Foods,

Inc.

202,735

0

.1

1,955 

Turning

Point

Brands,

Inc.

57,282

0.0

6,142 

(1)

United

Natural

Foods,

Inc.

70,572

0.0

2,504 

Universal

Corp.

129,507

0

.1

1,220 

(1)

USANA

Health

Sciences,

Inc.

59,170

0.0

7,540 

Utz

Brands,

Inc.

139,038

0

.1

15,212 

Vector

Group

Ltd.

166,724

0

.1

1,185 

Village

Super

Market,

Inc.

- Class

A

33,903

0.0

3,307 

(1)

Vita

Coco

Co.,

Inc.

80,790

0.0

3,377 

(1)

Vital

Farms,

Inc.

78,515

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

5

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Staples:

(continued)

3,278 

(1)

Waldencast

PLC

- Class

A

$

21,307

0.0

1,371 

WD-40

Co.

347,288

0

.1

1,760 

Weis

Markets,

Inc.

113,344

0.0

3,183 

(1)(2)

Westrock

Coffee

Co.

32,880

0.0

9,012,309

3

.2

Energy

:

7

.0

%

3,964 

(1)

Amplify

Energy

Corp.

26,202

0.0

14,205 

Archrock,

Inc.

279,412

0

.1

4,479 

Ardmore

Shipping

Corp.

73,545

0.0

1,805 

Atlas

Energy

Solutions,

Inc.

40,829

0.0

8,449 

Berry

Corp.

68,014

0.0

22,619 

Borr

Drilling

Ltd.

154,940

0

.1

2,530 

(1)

Bristow

Group,

Inc.

68,816

0.0

6,606 

Cactus,

Inc.

- Class

A

330,895

0

.1

7,089 

California

Resources

Corp.

390,604

0

.1

1,318 

(1)

Centrus

Energy

Corp.

- Class

A

54,737

0.0

19,864 

ChampionX

Corp.

712,919

0

.3

4,196 

Chord

Energy

Corp.

747,895

0

.3

8,179 

Civitas

Resources,

Inc.

620,868

0

.2

18,688 

(1)

Clean

Energy

Fuels

Corp.

50,084

0.0

15,750 

(1)

CNX

Resources

Corp.

373,590

0

.1

9,483 

Comstock

Resources,

Inc.

88,002

0.0

3,144 

CONSOL

Energy,

Inc.

263,341

0

.1

5,109 

Core

Laboratories,

Inc.

87,262

0.0

8,073 

Crescent

Energy

Co.

- Class

A

96,069

0.0

3,062 

CVR

Energy,

Inc.

109,191

0.0

6,541 

Delek

US

Holdings,

Inc.

201,070

0

.1

14,015 

DHT

Holdings,

Inc.

161,173

0

.1

10,547 

(1)

Diamond

Offshore

Drilling,

Inc.

143,861

0

.1

2,114 

(1)

DMC

Global,

Inc.

41,202

0.0

3,583 

Dorian

LPG

Ltd.

137,802

0

.1

3,844 

(1)

Dril-Quip,

Inc.

86,605

0.0

15,833 

(1)

Encore

Energy

Corp.

69,349

0.0

16,443 

(1)

Energy

Fuels,

Inc./

Canada

103,426

0.0

44,281 

Equitrans

Midstream

Corp.

553,070

0

.2

3,177 

Evolution

Petroleum

Corp.

19,507

0.0

2,041 

Excelerate

Energy,

Inc.

- Class

A

32,697

0.0

9,360 

(1)

Expro

Group

Holdings

NV

186,919

0

.1

3,129 

FLEX

LNG

Ltd.

79,570

0.0

1,067 

(1)

Forum

Energy

Technologies,

Inc.

21,319

0.0

23,880 

(1)(2)

Gevo,

Inc.

18,357

0.0

10,167 

Golar

LNG

Ltd.

244,618

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Energy:

(continued)

3,051 

Granite

Ridge

Resources,

Inc.

$

19,831

0.0

6,043 

(1)

Green

Plains,

Inc.

139,714

0

.1

1,115 

(1)

Gulfport

Energy

Corp.

178,534

0

.1

2,391 

(1)

Hallador

Energy

Co.

12,744

0.0

14,795 

(1)

Helix

Energy

Solutions

Group,

Inc.

160,378

0

.1

9,886 

Helmerich

&

Payne,

Inc.

415,805

0

.2

1,184 

HighPeak

Energy,

Inc.

18,672

0.0

4,206 

International

Seaways,

Inc.

223,759

0

.1

3,705 

Kinetik

Holdings,

Inc.

147,718

0

.1

1,587 

Kodiak

Gas

Services,

Inc.

43,389

0.0

46,906 

(1)

Kosmos

Energy

Ltd.

279,560

0

.1

16,689 

Liberty

Energy,

Inc.

345,796

0

.1

17,950 

(2)

Magnolia

Oil

&

Gas

Corp.

- Class

A

465,802

0

.2

3,116 

(1)

Mammoth

Energy

Services,

Inc.

11,342

0.0

11,577 

Matador

Resources

Co.

772,996

0

.3

14,756 

Murphy

Oil

Corp.

674,349

0

.3

958 

(1)

Nabors

Industries

Ltd.

82,513

0.0

8,468 

(1)

Newpark

Resources,

Inc.

61,139

0.0

8,272 

(1)

NextDecade

Corp.

46,985

0.0

11,392 

Noble

Corp.

PLC

552,398

0

.2

21,768 

Nordic

American

Tankers

Ltd.

85,331

0.0

8,908 

Northern

Oil

and

Gas,

Inc.

353,469

0

.1

10,349 

(1)

Oceaneering

International,

Inc.

242,167

0

.1

7,299 

(1)

Oil

States

International,

Inc.

44,962

0.0

6,770 

Overseas

Shipholding

Group,

Inc.

- Class

A

43,328

0.0

5,695 

(1)

Par

Pacific

Holdings,

Inc.

211,057

0

.1

35,915 

Patterson-UTI

Energy,

Inc.

428,825

0

.2

11,231 

PBF

Energy,

Inc.

- Class

A

646,569

0

.2

11,473 

Peabody

Energy

Corp.

278,335

0

.1

44,636 

Permian

Resources

Corp.

788,272

0

.3

2,673 

(1)(2)

ProFrac

Holding

Corp.

- Class

A

22,346

0.0

9,786 

(1)

ProPetro

Holding

Corp.

79,071

0.0

1,734 

(1)

REX

American

Resources

Corp.

101,803

0.0

955 

Riley

Exploration

Permian,

Inc.

31,515

0.0

9,042 

RPC,

Inc.

69,985

0.0

3,451 

SandRidge

Energy,

Inc.

50,281

0.0

4,894 

Scorpio

Tankers,

Inc.

350,166

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

6

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Energy:

(continued)

2,709 

(1)

SEACOR

Marine

Holdings,

Inc.

$

37,763

0.0

4,761 

(1)

Seadrill

Ltd.

239,478

0

.1

8,290 

Select

Water

Solutions,

Inc.

76,517

0.0

11,986 

SFL

Corp.

Ltd.

157,975

0

.1

2,087 

(1)

SilverBow

Resources,

Inc.

71,250

0.0

8,605 

Sitio

Royalties

Corp.

- Class

A

212,716

0

.1

11,844 

SM

Energy

Co.

590,423

0

.2

3,228 

Solaris

Oilfield

Infrastructure,

Inc.

- Class

A

27,987

0.0

13,974 

(1)

Talos

Energy,

Inc.

194,658

0

.1

6,979 

(1)

Teekay

Corp.

50,807

0.0

2,500 

Teekay

Tankers

Ltd.

- Class

A

146,025

0

.1

57,830 

(1)(2)

Tellurian,

Inc.

38,249

0.0

13,617 

(1)

TETRA

Technologies,

Inc.

60,323

0.0

4,741 

(1)

Tidewater,

Inc.

436,172

0

.2

38,895 

(1)

Uranium

Energy

Corp.

262,541

0

.1

7,783 

(1)

US

Silica

Holdings,

Inc.

96,587

0.0

11,794 

VAALCO

Energy,

Inc.

82,204

0.0

6,029 

(1)

Valaris

Ltd.

453,743

0

.2

5,706 

(1)(2)

Vertex

Energy,

Inc.

7,988

0.0

2,377 

(1)

Vital

Energy,

Inc.

124,888

0

.1

2,815 

Vitesse

Energy,

Inc.

66,800

0.0

10,626 

W&T

Offshore,

Inc.

28,159

0.0

7,218 

(1)

Weatherford

International

PLC

833,102

0

.3

6,094 

World

Fuel

Services

Corp.

161,186

0

.1

19,676,207

7

.0

Financials

:

15

.2

%

1,872 

1st

Source

Corp.

98,130

0.0

1,001 

ACNB

Corp.

37,638

0.0

1,731 

AFC

Gamma,

Inc.

21,430

0.0

2,171 

Alerus

Financial

Corp.

47,393

0.0

2,161 

(1)

AlTi

Global,

Inc.

12,231

0.0

2,031 

Amalgamated

Financial

Corp.

48,744

0.0

2,040 

A-Mark

Precious

Metals,

Inc.

62,608

0.0

4,771 

(1)

Ambac

Financial

Group,

Inc.

74,571

0.0

3,188 

Amerant

Bancorp,

Inc.

74,249

0.0

1,990 

(1)

American

Coastal

Insurance

Corp.

21,273

0.0

7,724 

(1)

American

Equity

Investment

Life

Holding

Co.

434,243

0

.2

1,335 

American

National

Bankshares,

Inc.

63,760

0.0

6,681 

Ameris

Bancorp

323,227

0

.1

2,094 

AMERISAFE,

Inc.

105,056

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

14,923 

Apollo

Commercial

Real

Estate

Finance,

Inc.

$

166,242

0

.1

18,594 

(2)

Arbor

Realty

Trust,

Inc.

246,370

0

.1

5,639 

Ares

Commercial

Real

Estate

Corp.

42,011

0.0

4,948 

ARMOUR

Residential

REIT,

Inc.

97,822

0.0

1,758 

Arrow

Financial

Corp.

43,985

0.0

6,033 

Artisan

Partners

Asset

Management,

Inc.

- Class

A

276,130

0

.1

2,397 

(1)

AssetMark

Financial

Holdings,

Inc.

84,878

0.0

15,078 

Associated

Banc-Corp.

324,328

0

.1

7,760 

Atlantic

Union

Bankshares

Corp.

274,006

0

.1

15,356 

(1)

AvidXchange

Holdings,

Inc.

201,931

0

.1

5,594 

(1)

Axos

Financial,

Inc.

302,300

0

.1

2,113 

(2)

B

Riley

Financial,

Inc.

44,732

0.0

13,461 

Banc

of

California,

Inc.

204,742

0

.1

2,312 

BancFirst

Corp.

203,525

0

.1

3,063 

Banco

Latinoamericano

de

Comercio

Exterior

SA

- Class

E

90,726

0.0

5,314 

(1)

Bancorp,

Inc.

177,806

0

.1

1,082 

Bank

First

Corp.

93,777

0.0

3,978 

Bank

of

Hawaii

Corp.

248,187

0

.1

1,846 

Bank

of

Marin

Bancorp

30,957

0.0

5,073 

Bank

of

NT

Butterfield

&

Son

Ltd.

162,285

0

.1

7,531 

BankUnited,

Inc.

210,868

0

.1

3,514 

Banner

Corp.

168,672

0

.1

1,901 

Bar

Harbor

Bankshares

50,338

0.0

4,733 

Berkshire

Hills

Bancorp,

Inc.

108,480

0.0

36,505 

BGC

Group,

Inc.

- Class

A

283,644

0

.1

17,249 

(2)

Blackstone

Mortgage

Trust,

Inc.

- Class

A

343,428

0

.1

3,071 

(1)

Blue

Foundry

Bancorp

28,745

0.0

5,076 

Bread

Financial

Holdings,

Inc.

189,030

0

.1

2,550 

(1)

Bridgewater

Bancshares,

Inc.

29,682

0.0

3,260 

Brightsphere

Investment

Group,

Inc.

74,458

0.0

14,312 

BrightSpire

Capital,

Inc.

98,610

0.0

9,490 

Brookline

Bancorp,

Inc.

94,520

0.0

6,300 

(1)

BRP

Group,

Inc.

- Class

A

182,322

0

.1

748 

Burke

&

Herbert

Financial

Services

Corp.

41,910

0.0

2,972 

Business

First

Bancshares,

Inc.

66,216

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

7

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

3,078 

Byline

Bancorp,

Inc.

$

66,854

0.0

18,476 

Cadence

Bank

535,804

0

.2

870 

Cambridge

Bancorp

59,299

0.0

1,801 

Camden

National

Corp.

60,370

0.0

6,958 

(1)

Cannae

Holdings,

Inc.

154,746

0

.1

6,624 

(1)

Cantaloupe,

Inc.

42,592

0.0

1,719 

Capital

City

Bank

Group,

Inc.

47,616

0.0

13,884 

Capitol

Federal

Financial,

Inc.

82,749

0.0

2,308 

Capstar

Financial

Holdings,

Inc.

46,391

0.0

3,003 

(1)

Carter

Bankshares,

Inc.

37,958

0.0

1,597 

Cass

Information

Systems,

Inc.

76,927

0.0

7,099 

Cathay

General

Bancorp

268,555

0

.1

3,113 

Central

Pacific

Financial

Corp.

61,482

0.0

1,909 

Chicago

Atlantic

Real

Estate

Finance,

Inc.

30,105

0.0

23,783 

Chimera

Investment

Corp.

109,640

0.0

1,896 

Citizens

&

Northern

Corp.

35,607

0.0

455 

Citizens

Financial

Services,

Inc.

22,386

0.0

1,553 

City

Holding

Co.

161,854

0

.1

1,962 

Civista

Bancshares,

Inc.

30,176

0.0

9,905 

Claros

Mortgage

Trust,

Inc.

96,673

0.0

2,695 

CNB

Financial

Corp.

54,951

0.0

11,324 

CNO

Financial

Group,

Inc.

311,184

0

.1

1,258 

(1)

Coastal

Financial

Corp.

48,898

0.0

2,615 

Cohen

&

Steers,

Inc.

201,067

0

.1

3,529 

(1)

Columbia

Financial,

Inc.

60,734

0.0

5,387 

Community

Bank

System,

Inc.

258,738

0

.1

1,896 

Community

Trust

Bancorp,

Inc.

80,864

0.0

6,769 

Compass

Diversified

Holdings

162,930

0

.1

4,244 

ConnectOne

Bancorp,

Inc.

82,758

0.0

5,392 

(1)

CrossFirst

Bankshares,

Inc.

74,625

0.0

2,936 

(1)

Customers

Bancorp,

Inc.

155,784

0

.1

13,633 

CVB

Financial

Corp.

243,213

0

.1

309 

Diamond

Hill

Investment

Group,

Inc.

47,639

0.0

3,954 

Dime

Community

Bancshares,

Inc.

76,154

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

2,548 

(1)

Donnelley

Financial

Solutions,

Inc.

$

158,001

0

.1

5,748 

Dynex

Capital,

Inc.

71,563

0.0

3,088 

Eagle

Bancorp,

Inc.

72,537

0.0

15,787 

Eastern

Bankshares,

Inc.

217,545

0

.1

2,845 

(1)

eHealth,

Inc.

17,155

0.0

7,301 

(2)

Ellington

Financial,

Inc.

86,225

0.0

2,801 

Employers

Holdings,

Inc.

127,137

0

.1

3,043 

Enact

Holdings,

Inc.

94,881

0.0

2,456 

(1)

Encore

Capital

Group,

Inc.

112,018

0.0

2,933 

(1)

Enova

International,

Inc.

184,280

0

.1

1,209 

(1)

Enstar

Group

Ltd.

375,709

0

.1

1,303 

Enterprise

Bancorp,

Inc.

33,839

0.0

3,957 

Enterprise

Financial

Services

Corp.

160,496

0

.1

1,761 

Equity

Bancshares,

Inc.

- Class

A

60,526

0.0

845 

Esquire

Financial

Holdings,

Inc.

40,112

0.0

10,551 

Essent

Group

Ltd.

627,890

0

.2

2,029 

F&G

Annuities

&

Life,

Inc.

82,276

0.0

1,592 

Farmers

&

Merchants

Bancorp,

Inc./Archbold

OH

35,486

0.0

4,604 

Farmers

National

Banc

Corp.

61,509

0.0

3,867 

FB

Financial

Corp.

145,631

0

.1

938 

Federal

Agricultural

Mortgage

Corp.

- Class

C

184,673

0

.1

5,208 

Fidelis

Insurance

Holdings

Ltd.

101,452

0.0

583 

Fidelity

D&D

Bancorp,

Inc.

28,235

0.0

1,880 

Financial

Institutions,

Inc.

35,382

0.0

1,487 

First

Bancorp,

Inc.

36,640

0.0

16,918 

First

BanCorp/Puerto

Rico

296,742

0

.1

4,261 

First

Bancorp/Southern

Pines

NC

153,907

0

.1

3,346 

First

Bancshares,

Inc.

86,829

0.0

2,355 

First

Bank/Hamilton

NJ

32,358

0.0

5,749 

First

Busey

Corp.

138,263

0

.1

10,853 

First

Commonwealth

Financial

Corp.

151,074

0

.1

2,261 

First

Community

Bankshares,

Inc.

78,298

0.0

9,782 

First

Financial

Bancorp

219,312

0

.1

13,348 

First

Financial

Bankshares,

Inc.

437,948

0

.2

1,451 

First

Financial

Corp.

55,617

0.0

5,418 

First

Foundation,

Inc.

40,906

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

8

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

8,398 

First

Interstate

BancSystem,

Inc.

- Class

A

$

228,510

0

.1

6,132 

First

Merchants

Corp.

214,007

0

.1

2,538 

First

Mid

Bancshares,

Inc.

82,942

0.0

2,571 

First

of

Long

Island

Corp.

28,512

0.0

3,844 

FirstCash

Holdings,

Inc.

490,264

0

.2

1,571 

Five

Star

Bancorp

35,347

0.0

3,202 

Flushing

Financial

Corp.

40,377

0.0

10,845 

(1)

Flywire

Corp.

269,064

0

.1

11,521 

(1)

Forge

Global

Holdings,

Inc.

22,236

0.0

9,202 

Franklin

BSP

Realty

Trust,

Inc.

122,939

0

.1

16,061 

Fulton

Financial

Corp.

255,209

0

.1

4,757 

GCM

Grosvenor,

Inc.

- Class

A

45,953

0.0

46,461 

(1)

Genworth

Financial,

Inc.

- Class

A

298,744

0

.1

3,176 

German

American

Bancorp,

Inc.

110,017

0.0

11,357 

Glacier

Bancorp,

Inc.

457,460

0

.2

2,233 

(1)

Goosehead

Insurance,

Inc.

- Class

A

148,762

0

.1

6,331 

Granite

Point

Mortgage

Trust,

Inc.

30,199

0.0

1,165 

Great

Southern

Bancorp,

Inc.

63,865

0.0

4,899 

(1)

Green

Dot

Corp.

- Class

A

45,708

0.0

786 

Greene

County

Bancorp,

Inc.

22,629

0.0

3,583 

(1)

Greenlight

Capital

Re

Ltd.

- Class

A

44,680

0.0

3,676 

Hamilton

Lane,

Inc.

- Class

A

414,506

0

.2

8,800 

Hancock

Whitney

Corp.

405,152

0

.2

3,510 

Hanmi

Financial

Corp.

55,879

0.0

10,841 

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

307,884

0

.1

5,070 

HarborOne

Bancorp,

Inc.

54,046

0.0

696 

HCI

Group,

Inc.

80,792

0.0

4,454 

Heartland

Financial

USA,

Inc.

156,558

0

.1

6,473 

Heritage

Commerce

Corp.

55,538

0.0

3,910 

Heritage

Financial

Corp.

75,815

0.0

4,661 

Hilltop

Holdings,

Inc.

145,983

0

.1

163 

(2)

Hingham

Institution

For

Savings

The

28,437

0.0

979 

(1)(2)

Hippo

Holdings,

Inc.

17,886

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

1,019 

Home

Bancorp,

Inc.

$

39,038

0.0

18,979 

Home

BancShares,

Inc.

466,314

0

.2

1,775 

HomeStreet,

Inc.

26,714

0.0

2,076 

HomeTrust

Bancshares,

Inc.

56,758

0.0

12,153 

Hope

Bancorp,

Inc.

139,881

0

.1

4,325 

Horace

Mann

Educators

Corp.

159,982

0

.1

5,126 

Horizon

Bancorp,

Inc.

65,767

0.0

4,539 

Independent

Bank

Corp.

236,119

0

.1

2,461 

Independent

Bank

Corp.

Michigan

62,386

0.0

3,716 

Independent

Bank

Group,

Inc.

169,635

0

.1

5,497 

International

Bancshares

Corp.

308,602

0

.1

3,422 

(1)

International

Money

Express,

Inc.

78,124

0.0

4,321 

Invesco

Mortgage

Capital,

Inc.

41,827

0.0

8,071 

Jackson

Financial,

Inc.

- Class

A

533,816

0

.2

4,023 

James

River

Group

Holdings

Ltd.

37,414

0.0

1,426 

John

Marshall

Bancorp,

Inc.

25,554

0.0

6,781 

Kearny

Financial

Corp.

43,670

0.0

6,484 

KKR

Real

Estate

Finance

Trust,

Inc.

65,229

0.0

12,178 

Ladder

Capital

Corp.

135,541

0

.1

7,097 

Lakeland

Bancorp,

Inc.

85,874

0.0

2,618 

Lakeland

Financial

Corp.

173,626

0

.1

5,267 

(1)

Lemonade,

Inc.

86,431

0.0

11,323 

(1)

LendingClub

Corp.

99,529

0.0

1,083 

(1)

LendingTree,

Inc.

45,854

0.0

3,550 

Live

Oak

Bancshares,

Inc.

147,360

0

.1

9,931 

(1)

Maiden

Holdings

Ltd.

22,345

0.0

48,512 

(1)

Marqeta,

Inc.

- Class

A

289,132

0

.1

4,847 

MBIA,

Inc.

32,766

0.0

1,865 

Mercantile

Bank

Corp.

71,784

0.0

1,720 

Merchants

Bancorp

74,270

0.0

2,829 

Mercury

General

Corp.

145,976

0

.1

2,576 

Metrocity

Bankshares,

Inc.

64,297

0.0

1,086 

(1)

Metropolitan

Bank

Holding

Corp.

41,811

0.0

10,496 

MFA

Financial,

Inc.

119,759

0

.1

1,837 

Mid

Penn

Bancorp,

Inc.

36,758

0.0

1,004 

Middlefield

Banc

Corp.

23,976

0.0

2,709 

Midland

States

Bancorp,

Inc.

68,077

0.0

1,829 

MidWestOne

Financial

Group,

Inc.

42,872

0.0

6,763 

Moelis

&

Co.

- Class

A

383,935

0

.1

6,554 

(1)

Mr

Cooper

Group,

Inc.

510,884

0

.2

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

9

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

1,339 

MVB

Financial

Corp.

$

29,873

0.0

3,888 

National

Bank

Holdings

Corp.

- Class

A

140,240

0

.1

227 

National

Western

Life

Group,

Inc.

- Class

A

111,675

0.0

8,402 

Navient

Corp.

146,195

0

.1

4,811 

NBT

Bancorp,

Inc.

176,467

0

.1

1,359 

Nelnet,

Inc.

- Class

A

128,629

0

.1

3,589 

(1)

NerdWallet,

Inc.

- Class

A

52,758

0.0

9,831 

New

York

Mortgage

Trust,

Inc.

70,783

0.0

2,534 

NewtekOne,

Inc.

27,874

0.0

1,448 

Nicolet

Bankshares,

Inc.

124,514

0

.1

8,145 

(1)

NMI

Holdings,

Inc.

- Class

A

263,409

0

.1

864 

Northeast

Bank

47,814

0.0

4,856 

Northfield

Bancorp,

Inc.

47,200

0.0

13,069 

Northwest

Bancshares,

Inc.

152,254

0

.1

910 

Norwood

Financial

Corp.

24,761

0.0

6,300 

OceanFirst

Financial

Corp.

103,383

0.0

712 

(1)

Ocwen

Financial

Corp.

19,231

0.0

4,831 

OFG

Bancorp

177,829

0

.1

29,493 

Old

National

Bancorp

513,473

0

.2

5,062 

Old

Second

Bancorp,

Inc.

70,058

0.0

10,570 

(1)

Open

Lending

Corp.

66,168

0.0

614 

Orange

County

Bancorp,

Inc.

28,244

0.0

4,753 

(2)

Orchid

Island

Capital,

Inc.

42,444

0.0

3,230 

Origin

Bancorp,

Inc.

100,905

0.0

16,215 

(1)

Oscar

Health,

Inc.

- Class

A

241,117

0

.1

4,666 

P10,

Inc.

- Class

A

39,288

0.0

9,722 

Pacific

Premier

Bancorp,

Inc.

233,328

0

.1

20,354 

(1)

Pagseguro

Digital

Ltd.

- Class

A

290,655

0

.1

2,542 

(1)

Palomar

Holdings,

Inc.

213,096

0

.1

1,508 

Park

National

Corp.

204,862

0

.1

2,689 

Pathward

Financial,

Inc.

135,741

0

.1

5,781 

Patria

Investments

Ltd.

- Class

A

85,790

0.0

27,628 

(1)

Payoneer

Global,

Inc.

134,272

0

.1

3,472 

(1)

Paysafe

Ltd.

54,823

0.0

2,089 

Peapack-Gladstone

Financial

Corp.

50,825

0.0

2,562 

PennyMac

Financial

Services,

Inc.

233,373

0

.1

8,985 

PennyMac

Mortgage

Investment

Trust

131,900

0

.1

3,808 

Peoples

Bancorp,

Inc.

112,755

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

870 

Peoples

Financial

Services

Corp.

$

37,506

0.0

4,520 

Perella

Weinberg

Partners

63,868

0.0

1,754 

Piper

Sandler

Cos.

348,151

0

.1

2,370 

PJT

Partners,

Inc.

- Class

A

223,396

0

.1

682 

Plumas

Bancorp

25,091

0.0

3,979 

(1)

PRA

Group,

Inc.

103,772

0.0

1,415 

Preferred

Bank/Los

Angeles

CA

108,630

0.0

4,071 

Premier

Financial

Corp.

82,641

0.0

5,763 

ProAssurance

Corp.

74,112

0.0

4,610 

PROG

Holdings,

Inc.

158,768

0

.1

7,651 

Provident

Financial

Services,

Inc.

111,475

0.0

1,861 

QCR

Holdings,

Inc.

113,037

0

.1

15,499 

Radian

Group,

Inc.

518,752

0

.2

16,518 

Ready

Capital

Corp.

150,809

0

.1

595 

Red

River

Bancshares,

Inc.

29,625

0.0

12,310 

Redwood

Trust,

Inc.

78,415

0.0

908 

Regional

Management

Corp.

21,983

0.0

13,701 

(1)

Remitly

Global,

Inc.

284,159

0

.1

5,817 

Renasant

Corp.

182,188

0

.1

1,160 

Republic

Bancorp,

Inc.

- Class

A

59,160

0.0

4,130 

S&T

Bancorp,

Inc.

132,490

0

.1

1,585 

Safety

Insurance

Group,

Inc.

130,271

0

.1

4,781 

Sandy

Spring

Bancorp,

Inc.

110,824

0.0

8,636 

Seacoast

Banking

Corp.

of

Florida

219,268

0

.1

6,166 

Selective

Insurance

Group,

Inc.

673,142

0

.3

12,843 

(1)

Selectquote,

Inc.

25,686

0.0

5,252 

ServisFirst

Bancshares,

Inc.

348,523

0

.1

12,781 

Simmons

First

National

Corp.

- Class

A

248,718

0

.1

7,532 

(1)

SiriusPoint

Ltd.

95,732

0.0

2,579 

(1)

Skyward

Specialty

Insurance

Group,

Inc.

96,480

0.0

2,186 

SmartFinancial,

Inc.

46,059

0.0

976 

(1)

Southern

First

Bancshares,

Inc.

30,998

0.0

1,142 

Southern

Missouri

Bancorp,

Inc.

49,917

0.0

3,120 

Southside

Bancshares,

Inc.

91,198

0.0

7,684 

SouthState

Corp.

653,371

0

.2

5,368 

Stellar

Bancorp,

Inc.

130,764

0

.1

5,525 

StepStone

Group,

Inc.

- Class

A

197,463

0

.1

2,794 

Stewart

Information

Services

Corp.

181,778

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

10

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

2,991 

Stock

Yards

Bancorp,

Inc.

$

146,290

0

.1

29,632 

(1)

StoneCo

Ltd.

- Class

A

492,188

0

.2

2,772 

(1)

StoneX

Group,

Inc.

194,761

0

.1

4,784 

(1)

Texas

Capital

Bancshares,

Inc.

294,455

0

.1

1,595 

(1)

Third

Coast

Bancshares,

Inc.

31,932

0.0

2,756 

Tiptree,

Inc.

47,624

0.0

1,555 

Tompkins

Financial

Corp.

78,201

0.0

7,420 

Towne

Bank/

Portsmouth

VA

208,205

0

.1

7,730 

TPG

RE

Finance

Trust,

Inc.

59,676

0.0

3,404 

TriCo

Bancshares

125,199

0

.1

2,311 

(1)

Triumph

Financial,

Inc.

183,309

0

.1

4,080 

(1)(2)

Trupanion,

Inc.

112,649

0

.1

2,292 

TrustCo

Bank

Corp.

NY

64,543

0.0

6,342 

Trustmark

Corp.

178,274

0

.1

9,627 

Two

Harbors

Investment

Corp.

127,461

0

.1

4,501 

UMB

Financial

Corp.

391,542

0

.1

13,192 

United

Bankshares,

Inc.

472,142

0

.2

11,796 

United

Community

Banks,

Inc.

310,471

0

.1

2,496 

United

Fire

Group,

Inc.

54,338

0.0

2,726 

Universal

Insurance

Holdings,

Inc.

55,392

0.0

3,415 

Univest

Financial

Corp.

71,100

0.0

7,468 

(1)(2)

Upstart

Holdings,

Inc.

200,815

0

.1

43,889 

Valley

National

Bancorp

349,356

0

.1

5,603 

Veritex

Holdings,

Inc.

114,805

0

.1

2,646 

Victory

Capital

Holdings,

Inc.

- Class

A

112,270

0.0

700 

Virtus

Investment

Partners,

Inc.

173,586

0

.1

3,235 

Walker

&

Dunlop,

Inc.

326,929

0

.1

6,972 

Washington

Federal,

Inc.

202,397

0

.1

1,986 

Washington

Trust

Bancorp,

Inc.

53,384

0.0

2,239 

Waterstone

Financial,

Inc.

27,249

0.0

6,081 

WesBanco,

Inc.

181,275

0

.1

2,121 

West

BanCorp,

Inc.

37,817

0.0

2,765 

Westamerica

BanCorp

135,153

0

.1

14,736 

WisdomTree,

Inc.

135,424

0

.1

434 

(1)

World

Acceptance

Corp.

62,921

0.0

6,202 

WSFS

Financial

Corp.

279,958

0

.1

42,716,895

15

.2

Health

Care

:

14

.9

%

31,511 

(1)

23andMe

Holding

Co.

- Class

A

16,764

0.0

5,156 

(1)

2seventy

bio,

Inc.

27,585

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

4,131 

(1)

4D

Molecular

Therapeutics,

Inc.

$

131,614

0

.1

7,762 

(1)

89bio,

Inc.

90,350

0.0

12,412 

(1)

ACADIA

Pharmaceuticals,

Inc.

229,498

0

.1

7,118 

(1)

Accolade,

Inc.

74,597

0.0

10,198 

(1)

Accuray,

Inc.

25,189

0.0

7,096 

(1)

ACELYRIN,

Inc.

47,898

0.0

3,315 

(1)

Actinium

Pharmaceuticals,

Inc.

25,956

0.0

9,877 

(1)

AdaptHealth

Corp.

113,684

0

.1

12,135 

(1)

Adaptive

Biotechnologies

Corp.

38,953

0.0

1,633 

(1)

Addus

HomeCare

Corp.

168,754

0

.1

6,339 

(1)

Adicet

Bio,

Inc.

14,897

0.0

22,379 

(1)

ADMA

Biologics,

Inc.

147,701

0

.1

1,141 

(1)

Aerovate

Therapeutics,

Inc.

33,739

0.0

39,846 

(1)

Agenus,

Inc.

23,111

0.0

2,909 

(1)

Agiliti,

Inc.

29,439

0.0

5,799 

(1)

Agios

Pharmaceuticals,

Inc.

169,563

0

.1

6,312 

(1)

Akero

Therapeutics,

Inc.

159,441

0

.1

4,569 

(1)

Aldeyra

Therapeutics,

Inc.

14,941

0.0

6,777 

(1)

Alector,

Inc.

40,798

0.0

9,128 

(1)

Alignment

Healthcare,

Inc.

45,275

0.0

16,915 

(1)

Alkermes

PLC

457,889

0

.2

8,213 

(1)

Allakos,

Inc.

10,348

0.0

10,150 

(1)

Allogene

Therapeutics,

Inc.

45,371

0.0

9,534 

(1)

Alphatec

Holdings,

Inc.

131,474

0

.1

3,817 

(1)

Alpine

Immune

Sciences,

Inc.

151,306

0

.1

5,475 

(1)

Altimmune,

Inc.

55,736

0.0

2,825 

(1)

ALX

Oncology

Holdings,

Inc.

31,499

0.0

26,858 

(1)

American

Well

Corp.

- Class

A

21,774

0.0

29,124 

(1)

Amicus

Therapeutics,

Inc.

343,081

0

.1

3,907 

(1)

AMN

Healthcare

Services,

Inc.

244,227

0

.1

12,860 

(1)

Amneal

Pharmaceuticals,

Inc.

77,932

0.0

3,907 

(1)

Amphastar

Pharmaceuticals,

Inc.

171,556

0

.1

5,338 

(1)

Amylyx

Pharmaceuticals,

Inc.

15,160

0.0

2,047 

(1)

AnaptysBio,

Inc.

46,098

0.0

7,680 

(1)(2)

Anavex

Life

Sciences

Corp.

39,091

0.0

4,059 

(1)

AngioDynamics,

Inc.

23,826

0.0

1,545 

(1)

ANI

Pharmaceuticals,

Inc.

106,806

0

.1

1,626 

(1)

Anika

Therapeutics,

Inc.

41,300

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

11

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

6,685 

(1)

Annexon,

Inc.

$

47,931

0.0

4,168 

(1)

Apogee

Therapeutics,

Inc.

276,964

0

.1

4,485 

(1)

Apollo

Medical

Holdings,

Inc.

188,325

0

.1

14,631 

(1)

Arbutus

Biopharma

Corp.

37,748

0.0

3,943 

(1)

Arcellx,

Inc.

274,236

0

.1

2,435 

(1)

Arcturus

Therapeutics

Holdings,

Inc.

82,230

0.0

5,690 

(1)

Arcus

Biosciences,

Inc.

107,427

0

.1

8,274 

(1)

Arcutis

Biotherapeutics,

Inc.

81,995

0.0

23,694 

(1)

Ardelyx,

Inc.

172,966

0

.1

700 

(1)

ArriVent

Biopharma,

Inc.

12,502

0.0

11,925 

(1)

Arrowhead

Pharmaceuticals,

Inc.

341,055

0

.1

2,227 

(1)

ARS

Pharmaceuticals,

Inc.

22,760

0.0

4,136 

(1)

Artivion,

Inc.

87,518

0.0

5,045 

(1)

Arvinas,

Inc.

208,258

0

.1

8,086 

(1)

Assertio

Holdings,

Inc.

7,757

0.0

4,922 

(1)

Astria

Therapeutics,

Inc.

69,277

0.0

9,319 

(1)

Atara

Biotherapeutics,

Inc.

6,467

0.0

8,896 

(1)

Atea

Pharmaceuticals,

Inc.

35,940

0.0

4,801 

(1)

AtriCure,

Inc.

146,046

0

.1

145 

Atrion

Corp.

67,215

0.0

2,763 

(1)

Aura

Biosciences,

Inc.

21,690

0.0

14,044 

(1)

Aurinia

Pharmaceuticals,

Inc.

70,360

0.0

4,857 

(1)

Avanos

Medical,

Inc.

96,703

0.0

5,050 

(1)

Aveanna

Healthcare

Holdings,

Inc.

12,574

0.0

6,585 

(1)

Avid

Bioservices,

Inc.

44,120

0.0

7,664 

(1)

Avidity

Biosciences,

Inc.

195,585

0

.1

2,652 

(1)

Avita

Medical,

Inc.

42,512

0.0

4,311 

(1)

Axogen,

Inc.

34,790

0.0

5,024 

(1)

Axonics,

Inc.

346,505

0

.1

3,663 

(1)

Axsome

Therapeutics,

Inc.

292,307

0

.1

7,454 

(1)

Beam

Therapeutics,

Inc.

246,280

0

.1

3,733 

(1)

BioAtla,

Inc.

12,842

0.0

19,897 

(1)

BioCryst

Pharmaceuticals,

Inc.

101,077

0.0

7,022 

(1)

Biohaven

Ltd.

384,033

0

.2

3,683 

(1)

BioLife

Solutions,

Inc.

68,320

0.0

2,074 

(1)(2)

Biomea

Fusion,

Inc.

31,006

0.0

2,197 

(1)

Bioxcel

Therapeutics,

Inc.

6,196

0.0

18,715 

(1)

Bluebird

Bio,

Inc.

23,955

0.0

6,236 

(1)

Blueprint

Medicines

Corp.

591,547

0

.2

11,742 

(1)

Bridgebio

Pharma,

Inc.

363,063

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

4,063 

(1)

BrightSpring

Health

Services,

Inc.

$

44,165

0.0

19,551 

(1)

Brookdale

Senior

Living,

Inc.

129,232

0

.1

12,416 

(1)

Butterfly

Network,

Inc.

13,409

0.0

3,565 

(1)

Cabaletta

Bio,

Inc.

60,819

0.0

5,463 

(1)

CareDx,

Inc.

57,853

0.0

2,089 

(1)

Cargo

Therapeutics,

Inc.

46,626

0.0

8,602 

(1)

Caribou

Biosciences,

Inc.

44,214

0.0

3,275 

(1)(2)

Carisma

Therapeutics,

Inc.

7,434

0.0

18,730 

(1)(3)(4)

Cartesian

Therapeutics,

Inc.

CVR

3,371

0.0

4,128 

(1)

Cassava

Sciences,

Inc.

83,757

0.0

2,648 

(1)

Castle

Biosciences,

Inc.

58,653

0.0

10,584 

(1)

Catalyst

Pharmaceuticals,

Inc.

168,709

0

.1

1,998 

(1)

Celcuity,

Inc.

43,157

0.0

6,134 

(1)

Celldex

Therapeutics,

Inc.

257,444

0

.1

2,881 

(1)

Century

Therapeutics,

Inc.

12,043

0.0

7,140 

(1)

Cerevel

Therapeutics

Holdings,

Inc.

301,808

0

.1

19,121 

(1)

Cerus

Corp.

36,139

0.0

2,169 

(1)

CG

oncology,

Inc.

95,219

0.0

15,669 

(1)

Citius

Pharmaceuticals,

Inc.

14,060

0.0

2,259 

(1)

ClearPoint

Neuro,

Inc.

15,361

0.0

6,999 

(1)

Codexis,

Inc.

24,427

0.0

8,782 

(1)

Cogent

Biosciences,

Inc.

59,015

0.0

9,714 

(1)

Coherus

Biosciences,

Inc.

23,216

0.0

3,400 

(1)

Collegium

Pharmaceutical,

Inc.

131,988

0

.1

13,085 

(1)

Community

Health

Systems,

Inc.

45,798

0.0

8,989 

(1)

Compass

Therapeutics,

Inc.

17,798

0.0

1,310 

(1)

Computer

Programs

and

Systems,

Inc.

12,078

0.0

3,100 

CONMED

Corp.

248,248

0

.1

8,278 

(1)

Corcept

Therapeutics,

Inc.

208,523

0

.1

5,575 

(1)(2)

CorMedix,

Inc.

23,638

0.0

902 

(1)

CorVel

Corp.

237,190

0

.1

6,729 

(1)

Crinetics

Pharmaceuticals,

Inc.

314,984

0

.1

3,527 

(1)

Cross

Country

Healthcare,

Inc.

66,025

0.0

4,571 

(1)

CryoPort,

Inc.

80,907

0.0

4,394 

(1)

Cue

Biopharma,

Inc.

8,305

0.0

2,771 

(1)

Cullinan

Oncology,

Inc.

47,218

0.0

1,156 

(1)

CVRx,

Inc.

21,051

0.0

12,747 

(1)

Cytek

Biosciences,

Inc.

85,532

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

12

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

9,598 

(1)

Cytokinetics,

Inc.

$

672,916

0

.3

6,578 

(1)

Day

One

Biopharmaceuticals,

Inc.

108,669

0

.1

5,726 

(1)

Deciphera

Pharmaceuticals,

Inc.

90,070

0.0

4,880 

(1)

Definitive

Healthcare

Corp.

39,382

0.0

12,135 

(1)

Denali

Therapeutics,

Inc.

249,010

0

.1

949 

(1)

Disc

Medicine,

Inc.

59,085

0.0

8,271 

(1)

DocGo,

Inc.

33,415

0.0

13,242 

(1)

Dynavax

Technologies

Corp.

164,333

0

.1

5,924 

(1)

Dyne

Therapeutics,

Inc.

168,182

0

.1

5,707 

(1)

Edgewise

Therapeutics,

Inc.

104,096

0

.1

8,669 

(1)

Editas

Medicine,

Inc.

64,324

0.0

5,886 

Embecta

Corp.

78,107

0.0

6,066 

(1)(2)

Emergent

BioSolutions,

Inc.

15,347

0.0

2,053 

(1)

Enanta

Pharmaceuticals,

Inc.

35,845

0.0

5,201 

(1)

Enhabit,

Inc.

60,592

0.0

2,568 

(1)

Enliven

Therapeutics,

Inc.

45,171

0.0

5,529 

Ensign

Group,

Inc.

687,918

0

.3

2,307 

(1)

Entrada

Therapeutics,

Inc.

32,690

0.0

8,086 

(1)

Erasca,

Inc.

16,657

0.0

11,249 

(1)

Evolent

Health,

Inc.

- Class

A

368,855

0

.1

4,463 

(1)

Evolus,

Inc.

62,482

0.0

3,700 

(1)

EyePoint

Pharmaceuticals,

Inc.

76,479

0.0

8,901 

(1)

Fate

Therapeutics,

Inc.

65,333

0.0

1,958 

(1)

Fennec

Pharmaceuticals,

Inc.

21,773

0.0

9,247 

(1)

FibroGen,

Inc.

21,730

0.0

2,455 

(1)

Foghorn

Therapeutics,

Inc.

16,473

0.0

2,224 

(1)

Fulgent

Genetics,

Inc.

48,261

0.0

1,841 

(1)

Genelux

Corp.

11,838

0.0

4,562 

(1)

Generation

Bio

Co.

18,567

0.0

54,272 

(1)

Geron

Corp.

179,098

0

.1

4,824 

(1)

Glaukos

Corp.

454,855

0

.2

8,717 

(1)

Gritstone

bio,

Inc.

22,403

0.0

11,603 

(1)

Guardant

Health,

Inc.

239,370

0

.1

5,054 

(1)

Haemonetics

Corp.

431,359

0

.2

13,290 

(1)

Halozyme

Therapeutics,

Inc.

540,637

0

.2

3,380 

(1)

Harmony

Biosciences

Holdings,

Inc.

113,500

0

.1

3,155 

(1)

Harrow,

Inc.

41,741

0.0

4,555 

(1)

Harvard

Bioscience,

Inc.

19,313

0.0

6,069 

(1)

Health

Catalyst,

Inc.

45,700

0.0

8,638 

(1)

HealthEquity,

Inc.

705,120

0

.3

2,704 

HealthStream,

Inc.

72,089

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

10,500 

(1)

Heron

Therapeutics,

Inc.

$

29,085

0.0

2,829 

(1)

HilleVax,

Inc.

47,046

0.0

12,618 

(1)

Hims

&

Hers

Health,

Inc.

195,200

0

.1

6,575 

(1)

Humacyte,

Inc.

20,448

0.0

6,434 

(1)

Ideaya

Biosciences,

Inc.

282,324

0

.1

1,236 

(1)

IGM

Biosciences,

Inc.

11,927

0.0

2,078 

(1)

Immuneering

Corp.

- Class

A

6,005

0.0

13,726 

(1)(2)

ImmunityBio,

Inc.

73,709

0.0

5,549 

(1)

Immunovant,

Inc.

179,288

0

.1

5,434 

(1)

Inari

Medical,

Inc.

260,723

0

.1

1,899 

(1)

InfuSystem

Holdings,

Inc.

16,274

0.0

3,559 

(1)

Inhibrx,

Inc.

124,423

0

.1

7,891 

(1)

Inmode

Ltd.

170,525

0

.1

1,840 

(1)

Innovage

Holding

Corp.

8,170

0.0

6,289 

(1)

Innoviva,

Inc.

95,844

0.0

2,149 

(1)

Inogen,

Inc.

17,342

0.0

5,128 

(1)

Inozyme

Pharma,

Inc.

39,280

0.0

14,165 

(1)

Insmed,

Inc.

384,296

0

.2

3,359 

(1)

Integer

Holdings

Corp.

391,928

0

.2

9,011 

(1)

Intellia

Therapeutics,

Inc.

247,893

0

.1

9,607 

(1)

Intra-Cellular

Therapies,

Inc.

664,804

0

.3

23,983 

(1)

Iovance

Biotherapeutics,

Inc.

355,428

0

.1

841 

iRadimed

Corp.

36,996

0.0

3,123 

(1)

iRhythm

Technologies,

Inc.

362,268

0

.1

14,322 

(1)

Ironwood

Pharmaceuticals,

Inc.

124,745

0

.1

2,682 

(1)

iTeos

Therapeutics,

Inc.

36,582

0.0

1,701 

(1)

Janux

Therapeutics,

Inc.

64,043

0.0

1,381 

(1)

Joint

Corp.

18,036

0.0

3,362 

(1)

KalVista

Pharmaceuticals,

Inc.

39,873

0.0

10,617 

(1)

Karyopharm

Therapeutics,

Inc.

16,032

0.0

2,496 

(1)

Keros

Therapeutics,

Inc.

165,235

0

.1

3,373 

(1)

Kiniksa

Pharmaceuticals

Ltd.

- Class

A

66,549

0.0

3,105 

(1)

Kodiak

Sciences,

Inc.

16,332

0.0

2,222 

(1)

Krystal

Biotech,

Inc.

395,360

0

.2

7,315 

(1)

Kura

Oncology,

Inc.

156,029

0

.1

4,030 

(1)

Kymera

Therapeutics,

Inc.

162,006

0

.1

6,931 

(1)

Lantheus

Holdings,

Inc.

431,385

0

.2

2,612 

(1)

Larimar

Therapeutics,

Inc.

19,825

0.0

2,054 

LeMaitre

Vascular,

Inc.

136,303

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

13

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

948 

(1)

Lexeo

Therapeutics,

Inc.

$

14,865

0.0

8,861 

(1)

Lexicon

Pharmaceuticals,

Inc.

21,266

0.0

11,430 

(1)

LifeStance

Health

Group,

Inc.

70,523

0.0

1,769 

(1)

Ligand

Pharmaceuticals,

Inc.

129,314

0

.1

12,564 

(1)(2)

Lineage

Cell

Therapeutics,

Inc.

18,595

0.0

5,069 

(1)

Liquidia

Corp.

74,768

0.0

5,545 

(1)

LivaNova

PLC

310,187

0

.1

2,391 

(1)

Longboard

Pharmaceuticals,

Inc.

51,646

0.0

18,400 

(1)

Lyell

Immunopharma,

Inc.

41,032

0.0

6,326 

(1)

MacroGenics,

Inc.

93,119

0.0

1,516 

(1)

Madrigal

Pharmaceuticals,

Inc.

404,833

0

.2

27,667 

(1)

MannKind

Corp.

125,332

0

.1

5,502 

(1)

Marinus

Pharmaceuticals,

Inc.

49,738

0.0

9,358 

(1)

MaxCyte,

Inc.

39,210

0.0

3,345 

(1)

MeiraGTx

Holdings

PLC

20,304

0.0

5,726 

(1)

Merit

Medical

Systems,

Inc.

433,745

0

.2

11,686 

(1)

Mersana

Therapeutics,

Inc.

52,353

0.0

564 

Mesa

Laboratories,

Inc.

61,888

0.0

12,157 

(1)

MiMedx

Group,

Inc.

93,609

0.0

2,026 

(1)

Mineralys

Therapeutics,

Inc.

26,156

0.0

2,630 

(1)

Mirum

Pharmaceuticals,

Inc.

66,066

0.0

1,370 

(1)

ModivCare,

Inc.

32,127

0.0

2,917 

(1)

Monte

Rosa

Therapeutics,

Inc.

20,565

0.0

3,809 

(1)

Morphic

Holding,

Inc.

134,077

0

.1

41,957 

(1)

Multiplan

Corp.

34,036

0.0

8,456 

(1)

Myriad

Genetics,

Inc.

180,282

0

.1

4,974 

(1)(2)

Nano-X

Imaging

Ltd.

48,596

0.0

1,306 

National

HealthCare

Corp.

123,430

0

.1

1,595 

National

Research

Corp.

63,178

0.0

4,921 

(1)

Nautilus

Biotechnology,

Inc.

14,468

0.0

22,127 

(1)

Neogen

Corp.

349,164

0

.1

13,111 

(1)

NeoGenomics,

Inc.

206,105

0

.1

1,513 

(1)(2)

Neumora

Therapeutics,

Inc.

20,804

0.0

3,712 

(1)

Nevro

Corp.

53,601

0.0

2,985 

(1)

Nkarta,

Inc.

32,268

0.0

10,976 

(1)

Novavax,

Inc.

52,465

0.0

5,020 

(1)

Nurix

Therapeutics,

Inc.

73,794

0.0

2,724 

(1)

Nuvalent,

Inc.

- Class

A

204,545

0

.1

15,754 

(1)

Nuvation

Bio,

Inc.

57,345

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

11,533 

(1)

Ocular

Therapeutix,

Inc.

$

104,950

0

.1

2,835 

(1)

Olema

Pharmaceuticals,

Inc.

32,092

0.0

3,681 

(1)

Omega

Therapeutics,

Inc.

13,436

0.0

6,013 

(1)

Omeros

Corp.

20,745

0.0

10,291 

(1)

OmniAb,

Inc.

55,777

0.0

4,659 

(1)

Omnicell,

Inc.

136,183

0

.1

42,844 

(1)(2)

OPKO

Health,

Inc.

51,413

0.0

1,654 

(1)

OptimizeRx

Corp.

20,096

0.0

7,205 

(1)

Optinose,

Inc.

10,519

0.0

17,095 

(1)

Option

Care

Health,

Inc.

573,366

0

.2

7,627 

(1)

OraSure

Technologies,

Inc.

46,906

0.0

1,459 

(1)

Orchestra

BioMed

Holdings,

Inc.

7,689

0.0

7,155 

(1)

Organogenesis

Holdings,

Inc.

20,320

0.0

4,207 

(1)

ORIC

Pharmaceuticals,

Inc.

57,846

0.0

3,691 

(1)

Orthofix

Medical,

Inc.

53,593

0.0

1,707 

(1)

OrthoPediatrics

Corp.

49,776

0.0

1,213 

(1)

Outlook

Therapeutics,

Inc.

14,483

0.0

4,727 

(1)

Outset

Medical,

Inc.

10,494

0.0

6,792 

(1)

Ovid

therapeutics,

Inc.

20,716

0.0

7,656 

(1)

Owens

&

Minor,

Inc.

212,148

0

.1

25,888 

(1)

Pacific

Biosciences

of

California,

Inc.

97,080

0.0

4,741 

(1)

Pacira

BioSciences,

Inc.

138,532

0

.1

4,736 

(1)

Paragon

28,

Inc.

58,490

0.0

8,499 

Patterson

Cos.,

Inc.

234,997

0

.1

2,571 

(1)

PDS

Biotechnology

Corp.

10,181

0.0

8,828 

(1)

Pediatrix

Medical

Group,

Inc.

88,545

0.0

3,222 

(1)

Pennant

Group,

Inc.

63,248

0.0

971 

(1)

PepGen,

Inc.

14,274

0.0

2,972 

(1)

PetIQ,

Inc.

54,328

0.0

3,290 

(1)(2)

Phathom

Pharmaceuticals,

Inc.

34,940

0.0

2,206 

Phibro

Animal

Health

Corp.

- Class

A

28,524

0.0

5,482 

(1)

Phreesia,

Inc.

131,184

0

.1

6,097 

(1)

Pliant

Therapeutics,

Inc.

90,845

0.0

3,591 

(1)

PMV

Pharmaceuticals,

Inc.

6,105

0.0

6,986 

(1)

Poseida

Therapeutics,

Inc.

22,285

0.0

14,031 

(1)

Precigen,

Inc.

20,345

0.0

5,135 

(1)

Prestige

Consumer

Healthcare,

Inc.

372,596

0

.1

4,135 

(1)

Prime

Medicine,

Inc.

28,945

0.0

11,611 

(1)

Privia

Health

Group,

Inc.

227,459

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

14

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

4,153 

(1)

PROCEPT

BioRobotics

Corp.

$

205,241

0

.1

8,147 

(1)

Progyny,

Inc.

310,808

0

.1

5,727 

(1)

ProKidney

Corp.

9,392

0.0

5,915 

(1)

Protagonist

Therapeutics,

Inc.

171,121

0

.1

8,809 

(1)

Protalix

BioTherapeutics,

Inc.

11,099

0.0

4,378 

(1)

Prothena

Corp.

PLC

108,443

0

.1

7,429 

(1)

PTC

Therapeutics,

Inc.

216,110

0

.1

3,983 

(1)

Pulmonx

Corp.

36,922

0.0

1,524 

(1)

Pulse

Biosciences,

Inc.

13,274

0.0

3,715 

(1)

Quanterix

Corp.

87,525

0.0

9,998 

(1)

Quantum-Si,

Inc.

19,696

0.0

4,197 

(1)

Quipt

Home

Medical

Corp.

18,341

0.0

6,153 

(1)

RadNet,

Inc.

299,405

0

.1

3,125 

(1)

RAPT

Therapeutics,

Inc.

28,063

0.0

14,044 

(1)

Recursion

Pharmaceuticals,

Inc.

- Class

A

140,019

0

.1

4,367 

(1)

REGENXBIO,

Inc.

92,013

0.0

9,554 

(1)

Relay

Therapeutics,

Inc.

79,298

0.0

5,181 

(1)

Replimune

Group,

Inc.

42,329

0.0

9,279 

(1)

Revance

Therapeutics,

Inc.

45,653

0.0

14,377 

(1)

Revolution

Medicines,

Inc.

463,371

0

.2

5,286 

(1)

Rhythm

Pharmaceuticals,

Inc.

229,042

0

.1

18,125 

(1)

Rigel

Pharmaceuticals,

Inc.

26,825

0.0

6,449 

(1)

Rocket

Pharmaceuticals,

Inc.

173,736

0

.1

2,937 

(1)

RxSight,

Inc.

151,490

0

.1

5,477 

(1)

Sage

Therapeutics,

Inc.

102,639

0.0

3,008 

(1)

Sagimet

Biosciences,

Inc.

- Class

A

16,303

0.0

10,089 

(1)

Sana

Biotechnology,

Inc.

100,890

0.0

385 

(1)

Sanara

Medtech,

Inc.

14,245

0.0

16,659 

(1)

Sangamo

Therapeutics,

Inc.

11,165

0.0

9,738 

(1)

Savara,

Inc.

48,495

0.0

5,792 

(1)

Scholar

Rock

Holding

Corp.

102,866

0

.1

5,594 

(1)

Schrodinger,

Inc./

United

States

151,038

0

.1

2,666 

(1)

scPharmaceuticals,

Inc.

13,383

0.0

7,205 

(1)

Seer,

Inc.

13,690

0.0

10,623 

Select

Medical

Holdings

Corp.

320,283

0

.1

14,930 

(1)

Selecta

Biosciences,

Inc.

9,705

0.0

483 

(1)

Semler

Scientific,

Inc.

14,108

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

9,045 

(1)

Seres

Therapeutics,

Inc.

$

7,002

0.0

33,757 

(1)

Sharecare,

Inc.

25,908

0.0

4,201 

(1)

SI-BONE,

Inc.

68,770

0.0

5,005 

(2)

SIGA

Technologies,

Inc.

42,843

0.0

2,947 

(1)

Sight

Sciences,

Inc.

15,560

0.0

4,045 

(1)

Silk

Road

Medical,

Inc.

74,104

0.0

1,726 

Simulations

Plus,

Inc.

71,025

0.0

6,888 

(1)

SpringWorks

Therapeutics,

Inc.

339,027

0

.1

5,011 

(1)

STAAR

Surgical

Co.

191,821

0

.1

2,396 

(1)

Stoke

Therapeutics,

Inc.

32,346

0.0

12,267 

(1)

Summit

Therapeutics,

Inc.

50,785

0.0

5,176 

(1)

Supernus

Pharmaceuticals,

Inc.

176,553

0

.1

7,747 

(1)

Surgery

Partners,

Inc.

231,093

0

.1

1,471 

(1)

Surmodics,

Inc.

43,159

0.0

6,371 

(1)

Sutro

Biopharma,

Inc.

35,996

0.0

7,356 

(1)

Syndax

Pharmaceuticals,

Inc.

175,073

0

.1

2,419 

(1)

Tactile

Systems

Technology,

Inc.

39,309

0.0

4,718 

(1)(2)

Tango

Therapeutics,

Inc.

37,461

0.0

932 

(1)

Taro

Pharmaceutical

Industries

Ltd.

39,461

0.0

3,012 

(1)

Tarsus

Pharmaceuticals,

Inc.

109,486

0

.1

4,567 

(1)

Tenaya

Therapeutics,

Inc.

23,885

0.0

4,598 

(1)

Terns

Pharmaceuticals,

Inc.

30,163

0.0

14,196 

(1)

TG

Therapeutics,

Inc.

215,921

0

.1

5,824 

(1)

Theravance

Biopharma,

Inc.

52,241

0.0

2,076 

(1)

Third

Harmonic

Bio,

Inc.

19,597

0.0

3,253 

(1)

TransMedics

Group,

Inc.

240,527

0

.1

7,725 

(1)

Travere

Therapeutics,

Inc.

59,560

0.0

4,770 

(1)

Treace

Medical

Concepts,

Inc.

62,249

0.0

4,152 

(1)

Trevi

Therapeutics,

Inc.

14,324

0.0

5,816 

(1)

Twist

Bioscience

Corp.

199,547

0

.1

1,471 

(1)

Tyra

Biosciences,

Inc.

24,124

0.0

730 

(1)

UFP

Technologies,

Inc.

184,106

0

.1

2,901 

(1)

UroGen

Pharma

Ltd.

43,515

0.0

1,541 

US

Physical

Therapy,

Inc.

173,933

0

.1

401 

Utah

Medical

Products,

Inc.

28,515

0.0

5,925 

(1)

Vanda

Pharmaceuticals,

Inc.

24,352

0.0

4,093 

(1)

Varex

Imaging

Corp.

74,083

0.0

10,742 

(1)

Vaxcyte,

Inc.

733,786

0

.3

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

15

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

4,598 

(1)

Ventyx

Biosciences,

Inc.

$

25,289

0.0

4,033 

(1)

Vera

Therapeutics,

Inc.

173,903

0

.1

7,425 

(1)

Veracyte,

Inc.

164,538

0

.1

4,909 

(1)

Vericel

Corp.

255,366

0

.1

1,848 

(1)(2)

Verrica

Pharmaceuticals,

Inc.

10,940

0.0

6,476 

(1)

Verve

Therapeutics,

Inc.

86,001

0.0

3,978 

(1)

Viemed

Healthcare,

Inc.

37,513

0.0

2,036 

(1)

Vigil

Neuroscience,

Inc.

6,943

0.0

10,441 

(1)

Viking

Therapeutics,

Inc.

856,162

0

.3

8,892 

(1)

Vir

Biotechnology,

Inc.

90,076

0.0

4,667 

(1)

Viridian

Therapeutics,

Inc.

81,719

0.0

4,818 

(1)

Vor

BioPharma,

Inc.

11,419

0.0

3,172 

(1)

Voyager

Therapeutics,

Inc.

29,531

0.0

7,101 

(1)

WaVe

Life

Sciences

Ltd.

43,813

0.0

10,081 

(1)

X4

Pharmaceuticals,

Inc.

14,013

0.0

6,048 

(1)

Xencor,

Inc.

133,842

0

.1

14,124 

(1)

Xeris

Biopharma

Holdings,

Inc.

31,214

0.0

729 

(1)

XOMA

Corp.

17,532

0.0

3,891 

(1)

Y-mAbs

Therapeutics,

Inc.

63,268

0.0

6,109 

(1)

Zentalis

Pharmaceuticals,

Inc.

96,278

0.0

3,640 

(1)

Zevra

Therapeutics,

Inc.

21,112

0.0

2,732 

(1)

Zimvie,

Inc.

45,051

0.0

2,400 

(1)(2)

Zura

Bio

Ltd.

6,168

0.0

5,779 

(1)

Zymeworks,

Inc.

60,795

0.0

1,891 

(1)(2)

Zynex,

Inc.

23,392

0.0

41,696,027

14

.9

Industrials

:

16

.6

%

5,677 

(1)

374Water,

Inc.

7,153

0.0

13,835 

(1)

3D

Systems

Corp.

61,427

0.0

6,874 

AAON,

Inc.

605,599

0

.2

3,466 

(1)

AAR

Corp.

207,509

0

.1

6,329 

ABM

Industries,

Inc.

282,400

0

.1

10,263 

ACCO

Brands

Corp.

57,575

0.0

13,025 

(1)

ACV

Auctions,

Inc.

- Class

A

244,479

0

.1

2,665 

(1)

AeroVironment,

Inc.

408,491

0

.2

2,570 

(1)

AerSale

Corp.

18,453

0.0

5,433 

(1)

Air

Transport

Services

Group,

Inc.

74,758

0.0

1,022 

Alamo

Group,

Inc.

233,353

0

.1

3,186 

Albany

International

Corp.

- Class

A

297,923

0

.1

41,991 

(1)

Alight,

Inc.

- Class

A

413,611

0

.2

1,640 

Allegiant

Travel

Co.

123,344

0

.1

1,494 

Allient,

Inc.

53,306

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

2,551 

Alta

Equipment

Group,

Inc.

$

33,035

0.0

3,403 

(1)

Ameresco,

Inc.

- Class

A

82,114

0.0

1,655 

(1)

American

Woodmark

Corp.

168,247

0

.1

21,130 

(1)

API

Group

Corp.

829,775

0

.3

2,260 

Apogee

Enterprises,

Inc.

133,792

0

.1

3,893 

Applied

Industrial

Technologies,

Inc.

769,062

0

.3

2,422 

ArcBest

Corp.

345,135

0

.1

15,841 

(1)(2)

Archer

Aviation,

Inc.

- Class

A

73,185

0.0

4,920 

Arcosa,

Inc.

422,431

0

.2

1,432 

Argan,

Inc.

72,373

0.0

3,210 

Aris

Water

Solutions,

Inc.

- Class

A

45,422

0.0

15,498 

(1)

Array

Technologies,

Inc.

231,075

0

.1

4,694 

(1)

ASGN,

Inc.

491,743

0

.2

2,406 

Astec

Industries,

Inc.

105,166

0.0

2,887 

(1)

Astronics

Corp.

54,969

0.0

2,237 

(1)

Asure

Software,

Inc.

17,404

0.0

3,764 

Atkore,

Inc.

716,515

0

.3

2,563 

AZZ,

Inc.

198,146

0

.1

7,549 

(1)

Babcock

&

Wilcox

Enterprises,

Inc.

8,530

0.0

4,992 

Barnes

Group,

Inc.

185,453

0

.1

729 

Barrett

Business

Services,

Inc.

92,379

0.0

6,386 

(1)

Beacon

Roofing

Supply,

Inc.

625,956

0

.2

11,034 

(1)

BlackSky

Technology,

Inc.

15,006

0.0

5,647 

(1)

Blade

Air

Mobility,

Inc.

16,094

0.0

4,759 

(1)(2)

Blink

Charging

Co.

14,325

0.0

19,697 

(1)

Bloom

Energy

Corp.

- Class

A

221,394

0

.1

2,639 

(1)

Blue

Bird

Corp.

101,179

0.0

891 

(1)

BlueLinx

Holdings,

Inc.

116,044

0

.1

4,049 

Boise

Cascade

Co.

620,995

0

.2

1,218 

(1)

Bowman

Consulting

Group

Ltd.

42,374

0.0

4,320 

(1)

BrightView

Holdings,

Inc.

51,408

0.0

4,520 

Brink's

Co.

417,558

0

.2

3,091 

Brookfield

Business

Corp.

- Class

A

74,617

0.0

2,072 

Cadre

Holdings,

Inc.

75,006

0.0

5,678 

(1)

Casella

Waste

Systems,

Inc.

- Class

A

561,384

0

.2

4,878 

(1)

CBIZ,

Inc.

382,923

0

.1

3,112 

(1)

CECO

Environmental

Corp.

71,638

0.0

4,384 

(1)

Chart

Industries,

Inc.

722,133

0

.3

1,861 

(1)

Cimpress

PLC

164,717

0

.1

2,981 

Columbus

McKinnon

Corp.

133,042

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

16

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

3,594 

Comfort

Systems

USA,

Inc.

$

1,141,850

0

.4

3,510 

(1)

Commercial

Vehicle

Group,

Inc.

22,569

0.0

3,102 

(1)

Concrete

Pumping

Holdings,

Inc.

24,506

0.0

18,753 

(1)

Conduent,

Inc.

63,385

0.0

4,151 

(1)

Construction

Partners,

Inc.

- Class

A

233,079

0

.1

11,800 

(1)

CoreCivic,

Inc.

184,198

0

.1

5,292 

Costamare,

Inc.

60,064

0.0

992 

Covenant

Logistics

Group,

Inc.

45,989

0.0

735 

CRA

International,

Inc.

109,941

0.0

1,567 

CSW

Industrials,

Inc.

367,618

0

.1

6,570 

(1)

Custom

Truck

One

Source,

Inc.

38,237

0.0

4,308 

(1)

Daseke,

Inc.

35,756

0.0

4,678 

Deluxe

Corp.

96,320

0.0

27,722 

(1)

Desktop

Metal,

Inc.

- Class

A

24,395

0.0

1,148 

(1)

Distribution

Solutions

Group,

Inc.

40,731

0.0

2,477 

Douglas

Dynamics,

Inc.

59,745

0.0

1,456 

(1)

Ducommun,

Inc.

74,693

0.0

1,432 

(1)

DXP

Enterprises,

Inc.

76,941

0.0

2,910 

(1)

Dycom

Industries,

Inc.

417,672

0

.2

1,039 

Eagle

Bulk

Shipping,

Inc.

64,906

0.0

1,526 

Encore

Wire

Corp.

401,002

0

.2

5,854 

(1)

Energy

Recovery,

Inc.

92,435

0.0

9,734 

(1)

Energy

Vault

Holdings,

Inc.

17,424

0.0

5,677 

Enerpac

Tool

Group

Corp.

202,442

0

.1

4,127 

EnerSys

389,836

0

.1

2,937 

Ennis,

Inc.

60,238

0.0

14,285 

(1)(2)

Enovix

Corp.

114,423

0

.1

2,136 

EnPro

Industries,

Inc.

360,493

0

.1

8,463 

(1)

Enviri

Corp.

77,437

0.0

14,369 

(1)

Eos

Energy

Enterprises,

Inc.

14,800

0.0

2,625 

ESCO

Technologies,

Inc.

281,006

0

.1

7,704 

(1)

ESS

Tech,

Inc.

5,572

0.0

2,328 

(1)

Eve

Holding,

Inc.

12,571

0.0

639 

EVI

Industries,

Inc.

15,911

0.0

5,172 

Exponent,

Inc.

427,673

0

.2

6,054 

Federal

Signal

Corp.

513,803

0

.2

5,830 

First

Advantage

Corp.

94,563

0.0

4,918 

(1)

FiscalNote

Holdings,

Inc.

6,541

0.0

6,030 

(1)

Fluence

Energy,

Inc.

104,560

0.0

14,485 

(1)

Fluor

Corp.

612,426

0

.2

1,374 

(1)

Forrester

Research,

Inc.

29,623

0.0

2,593 

Forward

Air

Corp.

80,668

0.0

1,298 

(1)

Franklin

Covey

Co.

50,960

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

4,641 

Franklin

Electric

Co.,

Inc.

$

495,705

0

.2

3,704 

(1)

Frontier

Group

Holdings,

Inc.

30,039

0.0

10,132 

FTAI

Aviation

Ltd.

681,884

0

.3

10,703 

FTAI

Infrastructure,

Inc.

67,215

0.0

48,425 

(1)

FuelCell

Energy,

Inc.

57,626

0.0

3,611 

GATX

Corp.

483,982

0

.2

4,515 

Genco

Shipping

&

Trading

Ltd.

91,790

0.0

12,275 

(1)

GEO

Group,

Inc.

173,323

0

.1

3,129 

(1)

Gibraltar

Industries,

Inc.

251,978

0

.1

1,459 

Global

Industrial

Co.

65,334

0.0

4,060 

(1)

GMS,

Inc.

395,200

0

.2

12,809 

Golden

Ocean

Group

Ltd.

166,005

0

.1

2,588 

Gorman-Rupp

Co.

102,355

0.0

19,764 

GrafTech

International

Ltd.

27,274

0.0

4,493 

Granite

Construction,

Inc.

256,685

0

.1

7,013 

(1)

Great

Lakes

Dredge

&

Dock

Corp.

61,364

0.0

3,125 

Greenbrier

Cos.,

Inc.

162,813

0

.1

3,994 

Griffon

Corp.

292,920

0

.1

3,323 

H&E

Equipment

Services,

Inc.

213,270

0

.1

5,311 

(1)

Hawaiian

Holdings,

Inc.

70,796

0.0

7,758 

(1)

Healthcare

Services

Group,

Inc.

96,820

0.0

5,193 

Heartland

Express,

Inc.

62,004

0.0

2,227 

Heidrick

&

Struggles

International,

Inc.

74,961

0.0

3,422 

Helios

Technologies,

Inc.

152,929

0

.1

2,884 

Herc

Holdings,

Inc.

485,377

0

.2

7,159 

Hillenbrand,

Inc.

360,026

0

.1

20,405 

(1)

Hillman

Solutions

Corp.

217,109

0

.1

1,832 

Himalaya

Shipping

Ltd.

14,125

0.0

4,689 

HNI

Corp.

211,615

0

.1

6,398 

Hub

Group,

Inc.

- Class

A

276,522

0

.1

4,851 

(1)

Hudson

Technologies,

Inc.

53,410

0.0

1,928 

(1)

Huron

Consulting

Group,

Inc.

186,283

0

.1

14,415 

(1)

Hyliion

Holdings

Corp.

25,370

0.0

1,189 

Hyster-Yale

Materials

Handling,

Inc.

76,298

0.0

1,058 

(1)

IBEX

Holdings

Ltd.

16,325

0.0

1,931 

ICF

International,

Inc.

290,867

0

.1

873 

(1)

IES

Holdings,

Inc.

106,192

0.0

2,708 

(1)

Innodata,

Inc.

17,873

0.0

3,585 

Insperity,

Inc.

392,952

0

.1

2,070 

Insteel

Industries,

Inc.

79,115

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

17

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

6,187 

Interface,

Inc.

$

104,065

0.0

8,766 

(1)

Janus

International

Group,

Inc.

132,630

0

.1

8,765 

(1)

JELD-WEN

Holding,

Inc.

186,081

0

.1

34,404 

(1)

JetBlue

Airways

Corp.

255,278

0

.1

28,649 

(1)(2)

Joby

Aviation,

Inc.

153,559

0

.1

3,244 

John

Bean

Technologies

Corp.

340,263

0

.1

1,177 

Kadant,

Inc.

386,174

0

.1

2,875 

Kaman

Corp.

131,876

0

.1

3,281 

Kelly

Services,

Inc.

- Class

A

82,156

0.0

8,026 

Kennametal,

Inc.

200,168

0

.1

1,908 

Kforce,

Inc.

134,552

0

.1

5,301 

Korn

Ferry

348,594

0

.1

14,781 

(1)

Kratos

Defense

&

Security

Solutions,

Inc.

271,675

0

.1

2,419 

(1)(2)

LanzaTech

Global,

Inc.

7,487

0.0

12,222 

(1)

Legalzoom.com,

Inc.

163,042

0

.1

7,216 

(1)

Leonardo

DRS,

Inc.

159,401

0

.1

16,974 

(1)

Li-Cycle

Holdings

Corp.

17,483

0.0

992 

(1)

Limbach

Holdings,

Inc.

41,089

0.0

1,162 

Lindsay

Corp.

136,721

0

.1

2,536 

(1)

Liquidity

Services,

Inc.

47,170

0.0

3,032 

LSI

Industries,

Inc.

45,844

0.0

2,930 

Luxfer

Holdings

PLC

30,384

0.0

3,823 

(1)

Manitowoc

Co.,

Inc.

54,057

0.0

6,213 

Marten

Transport

Ltd.

114,816

0

.1

2,198 

(1)

Masonite

International

Corp.

288,927

0

.1

13,119 

(1)

Masterbrand,

Inc.

245,850

0

.1

3,556 

Matson,

Inc.

399,694

0

.2

3,191 

Matthews

International

Corp.

- Class

A

99,176

0.0

1,405 

(1)

Mayville

Engineering

Co.,

Inc.

20,134

0.0

2,489 

McGrath

RentCorp

307,068

0

.1

21,488 

(1)

Microvast

Holdings,

Inc.

17,986

0.0

1,274 

Miller

Industries,

Inc.

63,827

0.0

7,513 

MillerKnoll,

Inc.

186,022

0

.1

2,953 

(1)

Montrose

Environmental

Group,

Inc.

115,669

0

.1

2,905 

Moog,

Inc.

- Class

A

463,783

0

.2

8,792 

(1)

MRC

Global,

Inc.

110,515

0.0

11,347 

Mueller

Industries,

Inc.

611,944

0

.2

15,754 

Mueller

Water

Products,

Inc.

- Class

A

253,482

0

.1

1,686 

(1)

MYR

Group,

Inc.

298,001

0

.1

613 

National

Presto

Industries,

Inc.

51,369

0.0

12,807 

(1)

Nextracker,

Inc.

- Class

A

720,650

0

.3

72,429 

(1)

Nikola

Corp.

75,326

0.0

1,141 

(1)

Northwest

Pipe

Co.

39,570

0.0

11,077 

(1)

NOW,

Inc.

168,370

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

5,447 

(1)(2)

NuScale

Power

Corp.

$

28,924

0.0

1,459 

(1)

NV5

Global,

Inc.

142,997

0

.1

351 

Omega

Flex,

Inc.

24,896

0.0

11,061 

(1)

OPENLANE,

Inc.

191,355

0

.1

4,058 

Pangaea

Logistics

Solutions

Ltd.

28,284

0.0

2,250 

Park

Aerospace

Corp.

37,418

0.0

948 

Park-Ohio

Holdings

Corp.

25,293

0.0

4,089 

(1)

Parsons

Corp.

339,183

0

.1

7,517 

(1)

Performant

Financial

Corp.

22,100

0.0

18,820 

Pitney

Bowes,

Inc.

81,491

0.0

18,878 

(1)

Planet

Labs

PBC

48,139

0.0

961 

Powell

Industries,

Inc.

136,750

0

.1

282 

Preformed

Line

Products

Co.

36,285

0.0

5,466 

Primoris

Services

Corp.

232,688

0

.1

2,705 

(1)

Proto

Labs,

Inc.

96,704

0.0

3,356 

Quad/Graphics,

Inc.

17,820

0.0

3,530 

Quanex

Building

Products

Corp.

135,658

0

.1

4,402 

(1)

Radiant

Logistics,

Inc.

23,859

0.0

14,959 

(1)

Resideo

Technologies,

Inc.

335,381

0

.1

3,683 

Resources

Connection,

Inc.

48,468

0.0

3,305 

REV

Group,

Inc.

73,007

0.0

28,726 

(1)(2)

Rocket

Lab

USA,

Inc.

118,064

0

.1

7,044 

Rush

Enterprises,

Inc.

- Class

A

376,995

0

.1

35 

Rush

Enterprises,

Inc.

- Class

B

1,865

0.0

11,953 

(1)

RXO,

Inc.

261,412

0

.1

12,581 

(1)

SES

AI

Corp.

21,136

0.0

17,515 

(1)

Shoals

Technologies

Group,

Inc.

- Class

A

195,818

0

.1

3,613 

Shyft

Group,

Inc.

44,874

0.0

4,358 

Simpson

Manufacturing

Co.,

Inc.

894,174

0

.3

4,108 

(1)

SkyWest,

Inc.

283,781

0

.1

6,070 

(1)

SKYX

Platforms

Corp.

7,952

0.0

1,863 

(1)

SP

Plus

Corp.

97,286

0.0

11,354 

(2)

Spirit

Airlines,

Inc.

54,953

0.0

4,493 

(1)

SPX

Technologies,

Inc.

553,223

0

.2

1,220 

Standex

International

Corp.

222,308

0

.1

9,478 

Steelcase,

Inc.

- Class

A

123,972

0

.1

15,233 

(1)(2)

Stem,

Inc.

33,360

0.0

3,295 

(1)

Sterling

Check

Corp.

52,984

0.0

3,063 

(1)

Sterling

Infrastructure,

Inc.

337,880

0

.1

4,082 

(1)

Sun

Country

Airlines

Holdings,

Inc.

61,597

0.0

8,804 

(1)

SunPower

Corp.

26,412

0.0

1,884 

Tennant

Co.

229,113

0

.1

6,729 

Terex

Corp.

433,348

0

.2

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

18

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

9,012 

(1)

Terran

Orbital

Corp.

$

11,806

0.0

3,551 

(1)

Thermon

Group

Holdings,

Inc.

116,189

0

.1

5,551 

(1)

Titan

International,

Inc.

69,166

0.0

2,278 

(1)

Titan

Machinery,

Inc.

56,517

0.0

3,364 

(1)

TPI

Composites,

Inc.

9,789

0.0

880 

(1)

Transcat,

Inc.

98,058

0.0

3,263 

TriNet

Group,

Inc.

432,315

0

.2

8,370 

Trinity

Industries,

Inc.

233,105

0

.1

6,704 

(1)

Triumph

Group,

Inc.

100,828

0.0

3,310 

(1)

TrueBlue,

Inc.

41,441

0.0

2,107 

TTEC

Holdings,

Inc.

21,850

0.0

4,558 

(1)

Tutor

Perini

Corp.

65,909

0.0

6,059 

UFP

Industries,

Inc.

745,318

0

.3

1,525 

UniFirst

Corp.

264,481

0

.1

12,826 

(1)

Upwork,

Inc.

157,247

0

.1

1,301 

(1)

V2X,

Inc.

60,770

0.0

13,939 

(1)

Verra

Mobility

Corp.

348,057

0

.1

2,233 

(1)

Viad

Corp.

88,181

0.0

2,311 

(1)

Vicor

Corp.

88,373

0.0

34,322 

(1)(2)

Virgin

Galactic

Holdings,

Inc.

50,797

0.0

1,404 

VSE

Corp.

112,320

0.0

4,738 

Wabash

National

Corp.

141,856

0

.1

2,755 

Watts

Water

Technologies,

Inc.

- Class

A

585,575

0

.2

6,376 

Werner

Enterprises,

Inc.

249,429

0

.1

1,388 

(1)

Willdan

Group,

Inc.

40,238

0.0

3,525 

(1)

Xometry,

Inc.

- Class

A

59,537

0.0

14,965 

Zurn

Elkay

Water

Solutions

Corp.

500,879

0

.2

46,457,024

16

.6

Information

Technology

:

15

.1

%

12,386 

(1)

8x8,

Inc.

33,442

0.0

2,212 

(1)

908

Devices,

Inc.

16,701

0.0

7,425 

A10

Networks,

Inc.

101,648

0.0

10,981 

(1)

ACI

Worldwide,

Inc.

364,679

0

.1

5,036 

(1)

ACM

Research,

Inc.

- Class

A

146,749

0

.1

11,182 

Adeia,

Inc.

122,107

0.0

8,300 

ADTRAN

Holdings,

Inc.

45,152

0.0

3,838 

Advanced

Energy

Industries,

Inc.

391,399

0

.1

2,866 

(1)

Aehr

Test

Systems

35,538

0.0

2,055 

(1)

Agilysys,

Inc.

173,154

0

.1

4,909 

(1)

Alarm.com

Holdings,

Inc.

355,755

0

.1

4,232 

(1)

Alkami

Technology,

Inc.

103,980

0.0

2,576 

(1)

Alpha

&

Omega

Semiconductor

Ltd.

56,775

0.0

5,547 

(1)

Altair

Engineering,

Inc.

- Class

A

477,874

0

.2

3,867 

(1)

Ambarella,

Inc.

196,328

0

.1

3,627 

American

Software,

Inc.

- Class

A

41,529

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

11,474 

Amkor

Technology,

Inc.

$

369,922

0

.1

7,154 

(1)

Amplitude,

Inc.

- Class

A

77,836

0.0

1,956 

(1)

Appfolio,

Inc.

- Class

A

482,623

0

.2

4,263 

(1)

Appian

Corp.

- Class

A

170,307

0

.1

8,497 

(1)(2)

Applied

Digital

Corp.

36,367

0.0

9,258 

(1)

Arlo

Technologies,

Inc.

117,114

0.0

8,370 

(1)

Asana,

Inc.

- Class

A

129,651

0

.1

2,349 

(1)

Atomera,

Inc.

14,470

0.0

35,079 

(1)

Aurora

Innovation,

Inc.

98,923

0.0

15,649 

(1)

AvePoint,

Inc.

123,940

0

.1

1,228 

(1)

Aviat

Networks,

Inc.

47,082

0.0

3,319 

(1)

Axcelis

Technologies,

Inc.

370,135

0

.1

2,987 

Badger

Meter,

Inc.

483,327

0

.2

1,107 

Bel

Fuse,

Inc.

- Class

B

66,763

0.0

4,254 

Belden,

Inc.

393,963

0

.1

3,740 

Benchmark

Electronics,

Inc.

112,237

0.0

5,326 

(1)

BigBear.ai

Holdings,

Inc.

10,918

0.0

7,329 

(1)

BigCommerce

Holdings,

Inc.

50,497

0.0

8,937 

(1)(2)

Bit

Digital,

Inc.

25,649

0.0

4,430 

(1)

Blackbaud,

Inc.

328,440

0

.1

5,785 

(1)

Blackline,

Inc.

373,595

0

.1

14,185 

(1)

Box,

Inc.

- Class

A

401,719

0

.1

5,338 

(1)

Braze,

Inc.

- Class

A

236,473

0

.1

5,962 

(1)

Brightcove,

Inc.

11,566

0.0

8,278 

(1)

C3.ai,

Inc.

- Class

A

224,086

0

.1

5,983 

(1)

Calix,

Inc.

198,396

0

.1

4,246 

(1)

Cerence,

Inc.

66,875

0.0

2,562 

(1)

CEVA,

Inc.

58,183

0.0

3,564 

(1)

Cipher

Mining,

Inc.

18,355

0.0

19,514 

(1)

Cleanspark,

Inc.

413,892

0

.2

8,408 

Clear

Secure,

Inc.

- Class

A

178,838

0

.1

1,366 

(1)

Clearfield,

Inc.

42,127

0.0

456 

Climb

Global

Solutions,

Inc.

32,321

0.0

4,925 

(1)

Cohu,

Inc.

164,150

0

.1

22,009 

(1)

CommScope

Holding

Co.,

Inc.

28,832

0.0

4,477 

(1)

CommVault

Systems,

Inc.

454,102

0

.2

2,815 

(1)

Comtech

Telecommunications

Corp.

9,655

0.0

2,096 

(1)

Consensus

Cloud

Solutions,

Inc.

33,243

0.0

3,962 

(1)

Corsair

Gaming,

Inc.

48,891

0.0

3,663 

(1)

Couchbase,

Inc.

96,374

0.0

11,768 

(1)

Credo

Technology

Group

Holding

Ltd.

249,364

0

.1

2,385 

(1)

CS

Disco,

Inc.

19,390

0.0

3,043 

CSG

Systems

International,

Inc.

156,836

0

.1

3,225 

CTS

Corp.

150,898

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

19

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

3,997 

(1)

Daktronics,

Inc.

$

39,810

0.0

3,691 

(1)

Digi

International,

Inc.

117,854

0.0

1,544 

(1)

Digimarc

Corp.

41,966

0.0

10,044 

(1)

Digital

Turbine,

Inc.

26,315

0.0

6,296 

(1)

DigitalOcean

Holdings,

Inc.

240,381

0

.1

4,604 

(1)

Diodes,

Inc.

324,582

0

.1

3,349 

(1)

Domo,

Inc.

- Class

B

29,873

0.0

18,313 

(1)

E2open

Parent

Holdings,

Inc.

81,310

0.0

6,403 

(1)

Eastman

Kodak

Co.

31,695

0.0

3,908 

(1)

Enfusion,

Inc.

- Class

A

36,149

0.0

5,113 

(1)

Envestnet,

Inc.

296,094

0

.1

2,743 

(1)

ePlus,

Inc.

215,435

0

.1

4,164 

(1)

Everbridge,

Inc.

145,032

0

.1

2,693 

(1)

EverCommerce,

Inc.

25,368

0.0

6,697 

EVERTEC,

Inc.

267,210

0

.1

12,183 

(1)

Evolv

Technologies

Holdings,

Inc.

54,214

0.0

16,489 

(1)

ExlService

Holdings,

Inc.

524,350

0

.2

6,650 

(1)

Expensify,

Inc.

- Class

A

12,236

0.0

12,913 

(1)

Extreme

Networks,

Inc.

149,016

0

.1

3,744 

(1)

Fannie

Mae

707,691

0

.3

2,020 

(1)

FARO

Technologies,

Inc.

43,450

0.0

12,396 

(1)

Fastly,

Inc.

- Class

A

160,776

0

.1

7,950 

(1)

FormFactor,

Inc.

362,759

0

.1

16,549 

(1)

Freshworks,

Inc.

- Class

A

301,357

0

.1

6,075 

(1)

Grid

Dynamics

Holdings,

Inc.

74,662

0.0

2,885 

Hackett

Group,

Inc.

70,106

0.0

11,318 

(1)

Harmonic,

Inc.

152,114

0

.1

2,558 

(1)

I3

Verticals,

Inc.

- Class

A

58,553

0.0

3,039 

(1)

Ichor

Holdings

Ltd.

117,366

0.0

3,147 

Immersion

Corp.

23,540

0.0

2,381 

(1)

Impinj,

Inc.

305,744

0

.1

15,885 

(1)

indie

Semiconductor,

Inc.

- Class

A

112,466

0.0

20,821 

(1)

Infinera

Corp.

125,551

0

.1

2,833 

(1)

Insight

Enterprises,

Inc.

525,578

0

.2

2,059 

(1)

Instructure

Holdings,

Inc.

44,021

0.0

3,570 

(1)

Intapp,

Inc.

122,451

0.0

2,581 

InterDigital,

Inc.

274,773

0

.1

1,324 

(1)

inTEST

Corp.

17,543

0.0

16,487 

(1)(2)

IonQ,

Inc.

164,705

0

.1

4,791 

(1)

Iteris,

Inc.

23,668

0.0

4,622 

(1)

Itron,

Inc.

427,627

0

.2

7,431 

(1)

Jamf

Holding

Corp.

136,359

0

.1

10,970 

(1)

Kaltura,

Inc.

14,810

0.0

2,802 

(1)

Kimball

Electronics,

Inc.

60,663

0.0

9,129 

(1)

Knowles

Corp.

146,977

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

5,661 

Kulicke

&

Soffa

Industries,

Inc.

$

284,805

0

.1

12,545 

(1)(2)

Lightwave

Logic,

Inc.

58,711

0.0

7,767 

(1)

LivePerson,

Inc.

7,747

0.0

6,661 

(1)

LiveRamp

Holdings,

Inc.

229,805

0

.1

3,611 

(1)

Luna

Innovations,

Inc.

11,573

0.0

5,573 

(1)

MACOM

Technology

Solutions

Holdings,

Inc.

533,002

0

.2

22,674 

(1)(2)

Marathon

Digital

Holdings,

Inc.

511,979

0

.2

27,243 

(1)

Matterport,

Inc.

61,569

0.0

2,684 

(1)(2)

Maxeon

Solar

Technologies

Ltd.

8,938

0.0

6,177 

Maximus,

Inc.

518,250

0

.2

7,869 

(1)

MaxLinear,

Inc.

146,914

0

.1

2,890 

(1)

MeridianLink,

Inc.

54,043

0.0

3,618 

Methode

Electronics,

Inc.

44,067

0.0

1,509 

(1)(2)

MicroStrategy,

Inc.

- Class

A

2,572,181

0

.9

19,948 

(1)(2)

MicroVision,

Inc.

36,704

0.0

20,675 

(1)

Mirion

Technologies,

Inc.

235,075

0

.1

4,714 

(1)

Mitek

Systems,

Inc.

66,467

0.0

4,013 

(1)

Model

N,

Inc.

114,250

0.0

7,367 

(1)

N-able,

Inc.

96,287

0.0

3,432 

Napco

Security

Technologies,

Inc.

137,829

0

.1

11,530 

(1)

Navitas

Semiconductor

Corp.

54,998

0.0

3,208 

(1)

NETGEAR,

Inc.

50,590

0.0

7,001 

(1)

NetScout

Systems,

Inc.

152,902

0

.1

5,872 

(1)

NextNav,

Inc.

38,638

0.0

4,847 

(1)

nLight,

Inc.

63,011

0.0

3,654 

(1)

Novanta,

Inc.

638,610

0

.2

528 

NVE

Corp.

47,615

0.0

11,037 

(1)

Olo,

Inc.

- Class

A

60,593

0.0

3,322 

ON24,

Inc.

23,719

0.0

4,136 

(1)

OneSpan,

Inc.

48,102

0.0

4,995 

(1)

Onto

Innovation,

Inc.

904,495

0

.3

1,662 

(1)

OSI

Systems,

Inc.

237,367

0

.1

9,207 

(1)

PagerDuty,

Inc.

208,815

0

.1

2,801 

(1)

PAR

Technology

Corp.

127,053

0

.1

1,211 

PC

Connection,

Inc.

79,841

0.0

3,270 

(1)

PDF

Solutions,

Inc.

110,101

0.0

3,536 

(1)

Perficient,

Inc.

199,041

0

.1

6,299 

(1)

Photronics,

Inc.

178,388

0

.1

2,815 

(1)

Plexus

Corp.

266,918

0

.1

5,781 

Power

Integrations,

Inc.

413,631

0

.2

5,801 

(1)

PowerSchool

Holdings,

Inc.

- Class

A

123,503

0

.1

4,404 

Progress

Software

Corp.

234,777

0

.1

4,628 

(1)

PROS

Holdings,

Inc.

168,135

0

.1

5,748 

(1)

Q2

Holdings,

Inc.

302,115

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

20

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

3,758 

(1)

Qualys,

Inc.

$

627,098

0

.2

5,408 

(1)

Rackspace

Technology,

Inc.

8,545

0.0

10,973 

(1)

Rambus,

Inc.

678,241

0

.2

6,177 

(1)

Rapid7,

Inc.

302,920

0

.1

1,278 

(1)

Red

Violet,

Inc.

24,985

0.0

8,886 

(1)

Repay

Holdings

Corp.

97,746

0.0

9,789 

(1)

Ribbon

Communications,

Inc.

31,325

0.0

4,982 

(1)

Rimini

Street,

Inc.

16,241

0.0

19,756 

(1)

Riot

Platforms,

Inc.

241,813

0

.1

1,758 

(1)

Rogers

Corp.

208,657

0

.1

34,199 

(1)

Sabre

Corp.

82,762

0.0

5,598 

(1)

Sanmina

Corp.

348,084

0

.1

3,311 

Sapiens

International

Corp.

NV

106,482

0.0

2,588 

(1)

ScanSource,

Inc.

113,976

0.0

3,259 

(1)

SEMrush

Holdings,

Inc.

- Class

A

43,214

0.0

6,657 

(1)

Semtech

Corp.

183,001

0

.1

3,236 

(1)

Silicon

Laboratories,

Inc.

465,078

0

.2

1,793 

(1)

SiTime

Corp.

167,161

0

.1

5,045 

(1)

SMART

Global

Holdings,

Inc.

132,784

0

.1

19,669 

(1)

SmartRent,

Inc.

52,713

0.0

5,348 

(1)

SolarWinds

Corp.

67,492

0.0

13,903 

(1)(2)

SoundHound

AI,

Inc.

- Class

A

81,889

0.0

1,016 

(1)

SoundThinking,

Inc.

16,134

0.0

10,671 

(1)

Sprinklr,

Inc.

- Class

A

130,933

0

.1

4,881 

(1)

Sprout

Social,

Inc.

- Class

A

291,445

0

.1

3,734 

(1)

SPS

Commerce,

Inc.

690,417

0

.3

5,219 

(1)

Squarespace,

Inc.

- Class

A

190,180

0

.1

5,183 

(1)

Super

Micro

Computer,

Inc.

5,234,986

1

.9

4,040 

(1)

Synaptics,

Inc.

394,142

0

.1

11,680 

(1)

Tenable

Holdings,

Inc.

577,342

0

.2

15,254 

(1)

Terawulf,

Inc.

40,118

0.0

10,205 

(1)

Thoughtworks

Holding,

Inc.

25,819

0.0

10,498 

(1)

TTM

Technologies,

Inc.

164,294

0

.1

1,036 

(1)

Tucows,

Inc.

- Class

A

19,228

0.0

1,605 

(1)

Turtle

Beach

Corp.

27,670

0.0

4,594 

(1)

Ultra

Clean

Holdings,

Inc.

211,048

0

.1

7,083 

(1)

Unisys

Corp.

34,778

0.0

11,033 

(1)

Varonis

Systems,

Inc.

520,427

0

.2

5,307 

(1)

Veeco

Instruments,

Inc.

186,647

0

.1

6,276 

(1)

Verint

Systems,

Inc.

208,049

0

.1

22,410 

(1)

Viavi

Solutions,

Inc.

203,707

0

.1

12,716 

Vishay

Intertechnology,

Inc.

288,399

0

.1

1,460 

(1)

Vishay

Precision

Group,

Inc.

51,582

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

3,591 

(1)

Weave

Communications,

Inc.

$

41,225

0.0

5,068 

(1)

Workiva,

Inc.

429,766

0

.2

11,920 

Xerox

Holdings

Corp.

213,368

0

.1

4,654 

(1)

Xperi,

Inc.

56,127

0.0

11,340 

(1)

Yext,

Inc.

68,380

0.0

14,455 

(1)

Zeta

Global

Holdings

Corp.

- Class

A

157,993

0

.1

13,895 

(1)

Zuora,

Inc.

- Class

A

126,722

0

.1

42,221,622

15

.1

Materials

:

4

.5

%

2,906 

AdvanSix,

Inc.

83,112

0.0

1,174 

Alpha

Metallurgical

Resources,

Inc.

388,794

0

.1

3,055 

American

Vanguard

Corp.

39,562

0.0

104,308 

(1)

Arcadium

Lithium

PLC

449,567

0

.2

1,821 

Arch

Resources,

Inc.

292,799

0

.1

5,390 

(1)

Aspen

Aerogels,

Inc.

94,864

0.0

13,072 

(1)

ATI,

Inc.

668,894

0

.2

9,175 

Avient

Corp.

398,195

0

.2

3,262 

Balchem

Corp.

505,447

0

.2

5,502 

Cabot

Corp.

507,284

0

.2

1,817 

Caledonia

Mining

Corp.

PLC

20,114

0.0

4,994 

Carpenter

Technology

Corp.

356,671

0

.1

5,502 

(1)

Century

Aluminum

Co.

84,676

0.0

1,738 

(1)

Clearwater

Paper

Corp.

76,003

0.0

34,875 

(1)

Coeur

Mining,

Inc.

131,479

0

.1

11,812 

Commercial

Metals

Co.

694,191

0

.3

3,574 

Compass

Minerals

International,

Inc.

56,255

0.0

13,242 

(1)

Constellium

SE

292,781

0

.1

701 

(1)

Contango

ORE,

Inc.

13,915

0.0

762 

(1)

Core

Molding

Technologies,

Inc.

14,425

0.0

7,447 

(1)

Dakota

Gold

Corp.

17,649

0.0

10,732 

(1)(2)

Danimer

Scientific,

Inc.

11,698

0.0

9,783 

(1)

Ecovyst,

Inc.

109,080

0.0

2,388 

FutureFuel

Corp.

19,223

0.0

4,939 

(1)

Glatfelter

Corp.

9,878

0.0

2,958 

Greif,

Inc.

- Class

A

204,250

0

.1

2,006 

Hawkins,

Inc.

154,061

0

.1

1,302 

Haynes

International,

Inc.

78,276

0.0

5,414 

HB

Fuller

Co.

431,712

0

.2

62,801 

Hecla

Mining

Co.

302,073

0

.1

21,587 

(1)

i-80

Gold

Corp.

28,927

0.0

3,755 

(1)

Ingevity

Corp.

179,114

0

.1

2,529 

Innospec,

Inc.

326,089

0

.1

1,074 

(1)

Intrepid

Potash,

Inc.

22,404

0.0

6,736 

(1)

Ivanhoe

Electric,

Inc.

/

US

66,013

0.0

1,630 

Kaiser

Aluminum

Corp.

145,657

0

.1

5,739 

(1)

Knife

River

Corp.

465,318

0

.2

2,124 

Koppers

Holdings,

Inc.

117,181

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

21

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Materials:

(continued)

6,107 

(1)

LSB

Industries,

Inc.

$

53,619

0.0

2,092 

Materion

Corp.

275,621

0

.1

5,684 

Mativ

Holdings,

Inc.

106,575

0.0

3,341 

Minerals

Technologies,

Inc.

251,511

0

.1

3,842 

Myers

Industries,

Inc.

89,019

0.0

26,098 

(1)

Novagold

Resources,

Inc.

78,294

0.0

15,743 

(1)

O-I

Glass,

Inc.

261,176

0

.1

1,038 

Olympic

Steel,

Inc.

73,573

0.0

12,608 

(1)

Origin

Materials,

Inc.

6,430

0.0

5,736 

Orion

SA

134,911

0

.1

4,251 

Pactiv

Evergreen,

Inc.

60,874

0.0

15,985 

(1)

Perimeter

Solutions

SA

118,609

0

.1

3,997 

(1)

Perpetua

Resources

Corp.

16,628

0.0

1,756 

(1)

Piedmont

Lithium,

Inc.

23,390

0.0

12,145 

(1)(2)

PureCycle

Technologies,

Inc.

75,542

0.0

1,403 

Quaker

Chemical

Corp.

287,966

0

.1

2,657 

Ramaco

Resources,

Inc.

- Class

A

44,744

0.0

4,417 

(1)

Ranpak

Holdings

Corp.

34,762

0.0

7,008 

(1)

Rayonier

Advanced

Materials,

Inc.

33,498

0.0

2,858 

Ryerson

Holding

Corp.

95,743

0.0

2,824 

Schnitzer

Steel

Industries,

Inc.

- Class

A

59,671

0.0

4,323 

Sensient

Technologies

Corp.

299,108

0

.1

2,199 

Stepan

Co.

197,998

0

.1

12,079 

(1)

Summit

Materials,

Inc.

- Class

A

538,361

0

.2

8,694 

SunCoke

Energy,

Inc.

97,981

0.0

3,648 

Sylvamo

Corp.

225,228

0

.1

4,568 

(1)

TimkenSteel

Corp.

101,638

0.0

4,310 

TriMas

Corp.

115,206

0

.1

3,690 

Trinseo

PLC

13,948

0.0

11,975 

Tronox

Holdings

PLC

207,766

0

.1

223 

United

States

Lime

&

Minerals,

Inc.

66,485

0.0

5,251 

Warrior

Met

Coal,

Inc.

318,736

0

.1

3,141 

Worthington

Industries,

Inc.

195,464

0

.1

3,194 

Worthington

Steel,

Inc.

114,505

0

.1

12,532,211

4

.5

Real

Estate

:

5

.4

%

9,639 

Acadia

Realty

Trust

163,959

0

.1

7,908 

Alexander

&

Baldwin,

Inc.

130,245

0

.1

253 

Alexander's,

Inc.

54,936

0.0

5,176 

American

Assets

Trust,

Inc.

113,406

0.0

11,466 

(1)

Anywhere

Real

Estate,

Inc.

70,860

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

15,213 

(1)

Apartment

Investment

and

Management

Co.

- Class

A

$

124,594

0

.1

21,583 

Apple

Hospitality

REIT,

Inc.

353,530

0

.1

7,488 

Armada

Hoffler

Properties,

Inc.

77,875

0.0

6,316 

Braemar

Hotels

&

Resorts,

Inc.

12,632

0.0

17,932 

Brandywine

Realty

Trust

86,074

0.0

19,125 

Broadstone

Net

Lease,

Inc.

299,689

0

.1

10,331 

CareTrust

REIT,

Inc.

251,766

0

.1

2,979 

CBL

&

Associates

Properties,

Inc.

68,249

0.0

1,665 

Centerspace

95,138

0.0

5,652 

Chatham

Lodging

Trust

57,142

0.0

4,021 

City

Office

REIT,

Inc.

20,949

0.0

2,966 

Community

Healthcare

Trust,

Inc.

78,747

0.0

29,552 

(1)

Compass,

Inc.

- Class

A

106,387

0.0

11,319 

COPT

Defense

Properties

273,580

0

.1

2,704 

CTO

Realty

Growth,

Inc.

45,833

0.0

17,010 

(1)

Cushman

&

Wakefield

PLC

177,925

0

.1

21,578 

DiamondRock

Hospitality

Co.

207,365

0

.1

16,433 

DigitalBridge

Group,

Inc.

316,664

0

.1

25,112 

Diversified

Healthcare

Trust

61,775

0.0

8,033 

Douglas

Elliman,

Inc.

12,692

0.0

16,497 

Douglas

Emmett,

Inc.

228,813

0

.1

9,965 

Easterly

Government

Properties,

Inc.

114,697

0.0

9,397 

Elme

Communities

130,806

0

.1

13,827 

Empire

State

Realty

Trust,

Inc.

- Class

A

140,067

0

.1

10,016 

(1)

Equity

Commonwealth

189,102

0

.1

15,568 

Essential

Properties

Realty

Trust,

Inc.

415,043

0

.2

7,469 

(2)

eXp

World

Holdings,

Inc.

77,155

0.0

4,804 

Farmland

Partners,

Inc.

53,324

0.0

1,944 

(1)

Forestar

Group,

Inc.

78,129

0.0

9,176 

Four

Corners

Property

Trust,

Inc.

224,537

0

.1

852 

(1)

FRP

Holdings,

Inc.

52,313

0.0

4,901 

Getty

Realty

Corp.

134,042

0

.1

4,523 

Gladstone

Commercial

Corp.

62,598

0.0

3,858 

Gladstone

Land

Corp.

51,466

0.0

6,829 

Global

Medical

REIT,

Inc.

59,754

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

22

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

20,054 

Global

Net

Lease,

Inc.

$

155,820

0

.1

14,386 

Hudson

Pacific

Properties,

Inc.

92,790

0.0

22,645 

Independence

Realty

Trust,

Inc.

365,264

0

.1

2,851 

Innovative

Industrial

Properties,

Inc.

295,193

0

.1

7,105 

InvenTrust

Properties

Corp.

182,670

0

.1

9,571 

JBG

SMITH

Properties

153,615

0

.1

12,081 

Kennedy-Wilson

Holdings,

Inc.

103,655

0.0

21,876 

Kite

Realty

Group

Trust

474,272

0

.2

29,443 

L.P.

Industrial

Trust

265,576

0

.1

4,233 

LTC

Properties,

Inc.

137,615

0

.1

22,111 

Macerich

Co.

380,972

0

.1

2,575 

Marcus

&

Millichap,

Inc.

87,988

0.0

4,279 

National

Health

Investors,

Inc.

268,850

0

.1

7,015 

NETSTREIT

Corp.

128,866

0

.1

13,952 

Newmark

Group,

Inc.

- Class

A

154,728

0

.1

3,456 

NexPoint

Diversified

Real

Estate

Trust

22,810

0.0

2,464 

NexPoint

Residential

Trust,

Inc.

79,316

0.0

4,534 

Office

Properties

Income

Trust

9,249

0.0

2,025 

One

Liberty

Properties,

Inc.

45,745

0.0

56,958 

(1)

Opendoor

Technologies,

Inc.

172,583

0

.1

6,200 

Orion

Office

REIT,

Inc.

21,762

0.0

15,050 

Outfront

Media,

Inc.

252,689

0

.1

20,228 

Paramount

Group,

Inc.

94,869

0.0

3,804 

Peakstone

Realty

Trust

61,358

0.0

12,247 

Pebblebrook

Hotel

Trust

188,726

0

.1

11,894 

Phillips

Edison

&

Co.,

Inc.

426,638

0

.2

13,443 

Piedmont

Office

Realty

Trust,

Inc.

- Class

A

94,504

0.0

4,838 

Plymouth

Industrial

REIT,

Inc.

108,855

0.0

8,040 

PotlatchDeltic

Corp.

378,041

0

.1

1,783 

RE/MAX

Holdings,

Inc.

- Class

A

15,637

0.0

11,216 

(1)

Redfin

Corp.

74,586

0.0

12,701 

Retail

Opportunity

Investments

Corp.

162,827

0

.1

15,797 

RLJ

Lodging

Trust

186,721

0

.1

1,741 

RMR

Group,

Inc.

- Class

A

41,784

0.0

5,902 

Ryman

Hospitality

Properties,

Inc.

682,330

0

.3

23,515 

Sabra

Health

Care

REIT,

Inc.

347,317

0

.1

5,106 

Safehold,

Inc.

105,184

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

1,477 

Saul

Centers,

Inc.

$

56,850

0.0

17,592 

Service

Properties

Trust

119,274

0.0

19,131 

SITE

Centers

Corp.

280,269

0

.1

6,613 

SL

Green

Realty

Corp.

364,575

0

.1

3,554 

St

Joe

Co.

206,025

0

.1

1,548 

(1)

Star

Holdings

20,000

0.0

611 

(1)

Stratus

Properties,

Inc.

13,949

0.0

11,415 

Summit

Hotel

Properties,

Inc.

74,312

0.0

20,773 

Sunstone

Hotel

Investors,

Inc.

231,411

0

.1

10,358 

Tanger

Factory

Outlet

Centers,

Inc.

305,872

0

.1

2,811 

(1)

Tejon

Ranch

Co.

43,317

0.0

8,364 

Terreno

Realty

Corp.

555,370

0

.2

6,355 

UMH

Properties,

Inc.

103,205

0.0

24,732 

Uniti

Group,

Inc.

145,919

0

.1

1,542 

Universal

Health

Realty

Income

Trust

56,607

0.0

11,720 

Urban

Edge

Properties

202,404

0

.1

8,310 

Veris

Residential,

Inc.

126,395

0

.1

5,397 

Whitestone

REIT

67,732

0.0

10,939 

Xenia

Hotels

&

Resorts,

Inc.

164,194

0

.1

15,232,943

5

.4

Utilities

:

2

.4

%

5,797 

ALLETE,

Inc.

345,733

0

.1

6,894 

(1)

Altus

Power,

Inc.

32,953

0.0

3,712 

American

States

Water

Co.

268,155

0

.1

1,136 

Artesian

Resources

Corp.

- Class

A

42,157

0.0

7,656 

Avista

Corp.

268,113

0

.1

6,662 

Black

Hills

Corp.

363,745

0

.1

12,338 

Brookfield

Infrastructure

Corp.

- Class

A

444,662

0

.2

5,096 

(1)

Cadiz,

Inc.

14,778

0.0

5,874 

California

Water

Service

Group

273,024

0

.1

2,173 

Chesapeake

Utilities

Corp.

233,163

0

.1

1,639 

Consolidated

Water

Co.

Ltd.

48,039

0.0

2,147 

Genie

Energy

Ltd.

- Class

B

32,377

0.0

3,713 

MGE

Energy,

Inc.

292,287

0

.1

1,912 

Middlesex

Water

Co.

100,380

0

.1

7,372 

(1)

Montauk

Renewables,

Inc.

30,668

0.0

9,909 

New

Jersey

Resources

Corp.

425,195

0

.2

3,851 

Northwest

Natural

Holding

Co.

143,334

0

.1

6,093 

NorthWestern

Corp.

310,316

0

.1

5,609 

ONE

Gas,

Inc.

361,949

0

.1

5,420 

Ormat

Technologies,

Inc.

358,750

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

23

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Utilities:

(continued)

4,240 

Otter

Tail

Corp.

$

366,336

0

.1

8,490 

PNM

Resources,

Inc.

319,564

0

.1

10,012 

Portland

General

Electric

Co.

420,504

0

.2

2,379 

(1)

Pure

Cycle

Corp.

22,601

0.0

3,326 

SJW

Group

188,218

0

.1

6,327 

Southwest

Gas

Holdings,

Inc.

481,675

0

.2

5,185 

Spire,

Inc.

318,203

0

.1

11,022 

(1)

Sunnova

Energy

International,

Inc.

67,565

0.0

1,847 

Unitil

Corp.

96,690

0.0

1,797 

York

Water

Co.

65,177

0.0

6,736,311

2

.4

Total

Common

Stock

(Cost

$232,017,287)

271,495,157

96

.9

RIGHTS

:

0.0

%

Consumer,

Non-cyclical

:

0.0

%

8,741 

(3)(4)

Chinook

Therapeutics,

Inc.

CVR

3,409

0.0

Energy

:

—

%

1,208 

EMPIRE

PETOLEUM

RIGHT

—

—

Total

Rights

(Cost

$—)

3,409

0.0

Total

Long-Term

Investments

(Cost

$232,017,287)

271,498,566

96

.9

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

4

.8

%

Repurchase

Agreements

:

2

.2

%

1,502,093 

(5)

Bank

of

America

Inc.,

Repurchase

Agreement

dated

03/28/2024,

5.320%,

due

04/01/2024

(Repurchase

Amount

$1,502,969,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

4.500%,

Market

Value

plus

accrued

interest

$1,532,135,

due

10/15/26-08/15/35)

1,502,093

0

.5

Principal

Amount†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

1,502,093 

(5)

Daiwa

Capital

Markets

America

Inc.,

Repurchase

Agreement

dated

03/28/2024,

5.350%,

due

04/01/2024

(Repurchase

Amount

$1,502,974,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

4.125%,

Market

Value

plus

accrued

interest

$1,532,135,

due

06/11/24-02/15/42)

$

1,502,093

0

.5

1,502,093 

(5)

HSBC

Securities

(USA)

Inc.,

Repurchase

Agreement

dated

03/28/2024,

5.320%,

due

04/01/2024

(Repurchase

Amount

$1,502,969,

collateralized

by

various

U.S.

Government

Securities,

0.625%-

4.000%,

Market

Value

plus

accrued

interest

$1,532,135,

due

02/15/25-02/15/48)

1,502,093

0

.5

276,538 

(5)

JPMorgan

Securities

LLC,

Repurchase

Agreement

dated

03/28/2024,

5.320%,

due

04/01/2024

(Repurchase

Amount

$276,699,

collateralized

by

various

U.S.

Government

Securities,

0.250%-

5.000%,

Market

Value

plus

accrued

interest

$282,069,

due

07/31/24-06/30/28)

276,538

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

24

Voya

VACS

Index

Series

SC

Portfolio

Principal

Amount†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

1,502,093 

(5)

Mizuho

Securities

(USA)

LLC,

Repurchase

Agreement

dated

03/28/2024,

5.320%,

due

04/01/2024

(Repurchase

Amount

$1,502,969,

collateralized

by

various

U.S.

Government

Securities,

0.250%-

2.875%,

Market

Value

plus

accrued

interest

$1,532,135,

due

06/15/24-05/15/32)

$

1,502,093

0

.6

Total

Repurchase

Agreements

(Cost

$6,284,910)

6,284,910

2

.2

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

2

.6

%

224,000 

(6)

BlackRock

Liquidity

Funds,

FedFund,

Institutional

Class,

5.200%

224,000

0

.1

6,931,000 

(6)

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

(Institutional

Share

Class),

5.220%

6,931,000

2

.5

Total

Mutual

Funds

(Cost

$7,155,000)

7,155,000

2

.6

Total

Short-Term

Investments

(Cost

$13,439,910)

13,439,910

4

.8

Total

Investments

in

Securities

(Cost

$245,457,197)

$

284,938,476

101

.7

Liabilities

in

Excess

of

Other

Assets

(

4,639,738

)

(1.7)

Net

Assets

$

280,298,738

100.0

†

Unless

otherwise

indicated,

principal

amount

is

shown

in

USD.

(1)

Non-income

producing

security.

(2)

Security,

or

a

portion

of

the

security,

is

on

loan.

(3)

For

fair

value

measurement

disclosure

purposes,

security

is

categorized

as

Level

3,

whose

value

was

determined

using

significant

unobservable

inputs.

(4)

Restricted

security

as

to

resale,

excluding

Rule

144A

securities.

As

of

March

31,

2024,

the

Portfolio

held

restricted

securities

with

a

fair

value

of

$6,780

or

—%

of

net

assets.

Please

refer

to

the

table

below

for

additional

details.

(5)

All

or

a

portion

of

the

security

represents

securities

purchased

with

cash

collateral

received

for

securities

on

loan.

(6)

Rate

shown

is

the

7-day

yield

as

of

March

31,

2024.

PORTFOLIO

OF

INVESTMENTS

as

of

March

31,

2024

(Unaudited)

(continued)

25

Voya

VACS

Index

Series

SC

Portfolio

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

March

31,

2024

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

March

31,

2024

Asset

Table

Investments,

at

fair

value

Common

Stock

Communication

Services

$

5,859,206

$

—

$

—

$

5,859,206

Consumer

Discretionary

29,354,402

—

—

29,354,402

Consumer

Staples

9,012,309

—

—

9,012,309

Energy

19,676,207

—

—

19,676,207

Financials

42,716,895

—

—

42,716,895

Health

Care

41,692,656

—

3,371

41,696,027

Industrials

46,457,024

—

—

46,457,024

Information

Technology

42,221,622

—

—

42,221,622

Materials

12,532,211

—

—

12,532,211

Real

Estate

15,232,943

—

—

15,232,943

Utilities

6,736,311

—

—

6,736,311

Total

Common

Stock

271,491,786

—

3,371

271,495,157

Rights

—

—

3,409

3,409

Short-Term

Investments

7,155,000

6,284,910

—

13,439,910

Total

Investments,

at

fair

value

$

278,646,786

$

6,284,910

$

6,780

$

284,938,476

Other

Financial

Instruments+

Futures

182,370

—

—

182,370

Total

Assets

$

278,829,156

$

6,284,910

$

6,780

$

285,120,846

+

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

March

31,

2024,

Voya

VACS

Index

Series

SC

Portfolio

held

the

following

restricted

securities:

Security

Acquisition

Date

Acquisition

Cost

Fair

Value

Cartesian

Therapeutics,

Inc.

CVR

12/12/2023

$

—

$

3,371

Chinook

Therapeutics,

Inc.

CVR

8/14/2023

—

3,409

$

—

$

6,780

At

March

31,

2024,

the

following

futures

contracts

were

outstanding

for

Voya

VACS

Index

Series

SC

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation

Long

Contracts:

E-mini

Russell

2000

Index

81

06/21/24

$

8,690,895

$

182,370

$

8,690,895

$

182,370

Net

unrealized

appreciation

consisted

of:

Gross

Unrealized

Appreciation

$

62,097,138

Gross

Unrealized

Depreciation

(

22,615,859

)

Net

Unrealized

Appreciation

$

39,481,279