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Ing Variable Portfolios NPORT-PVoya Emerging Markets Index Portfolio (Sep 2024 report)

Filed: 21 Nov 24, 4:09pm

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

1

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

95.7%

Brazil

:

3.6%

57,192

Ambev

SA

$

137,844

0.1

69,733

B3

SA

-

Brasil

Bolsa

Balcao

137,477

0.1

15,574

Banco

Bradesco

SA

37,536

0.0

14,529

Banco

BTG

Pactual

SA

89,291

0.1

20,996

Banco

do

Brasil

SA

105,140

0.1

8,572

BB

Seguridade

Participacoes

SA

56,206

0.1

6,500

(1)

BRF

SA

28,290

0.0

2,900

Caixa

Seguridade

Participacoes

S/A

7,761

0.0

11,923

CCR

SA

26,811

0.0

15,272

Centrais

Eletricas

Brasileiras

SA

110,173

0.1

5,626

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

SABESP

93,214

0.1

7,799

Cia

Siderurgica

Nacional

SA

18,496

0.0

16,490

Cosan

SA

39,653

0.0

2,398

CPFL

Energia

SA

14,988

0.0

8,300

(1)

Embraer

SA

73,452

0.1

3,491

Energisa

S/A

28,850

0.0

2,890

Engie

Brasil

Energia

SA

22,562

0.0

14,472

Equatorial

Energia

SA

86,497

0.1

953

(1)

Equatorial

Energia

SA

5,696

0.0

62,060

(1)(2)

Hapvida

Participacoes

e

Investimentos

S/A

45,796

0.1

5,272

Hypera

SA

25,452

0.0

2,522

(3)

Inter

&

Co.,

Inc.

-

Class

A

16,797

0.0

9,607

JBS

S/A

55,744

0.1

11,142

Klabin

SA

43,196

0.1

11,847

Localiza

Rent

a

Car

SA

89,706

0.1

11,104

Natura

&

Co.

Holding

SA

28,638

0.0

36,470

(1)

NU

Holdings

Ltd./Cayman

Islands

-

Class

A

497,815

0.5

2,085

(1)

Pagseguro

Digital

Ltd.

-

Class

A

17,952

0.0

46,013

Petroleo

Brasileiro

SA

331,771

0.3

10,266

PRIO

SA/Brazil

81,805

0.1

16,502

Raia

Drogasil

SA

77,638

0.1

8,324

(2)

Rede

D'Or

Sao

Luiz

SA

47,459

0.1

16,306

Rumo

SA

60,103

0.1

16,867

(1)

Sendas

Distribuidora

S/A

23,252

0.0

2,796

(1)

StoneCo

Ltd.

-

Class

A

31,483

0.0

9,780

Suzano

SA

97,626

0.1

5,263

Telefonica

Brasil

SA

54,314

0.1

10,737

TIM

SA/Brazil

37,014

0.0

7,473

Totvs

SA

39,315

0.0

9,280

Ultrapar

Participacoes

SA

36,250

0.0

41,717

Vale

SA

-

Foreign

487,567

0.5

13,168

Vibra

Energia

SA

56,392

0.1

20,605

WEG

SA

206,591

0.2

4,261

XP,

Inc.

-

Class

A

76,442

0.1

3,686,055

3.6

Chile

:

0.3%

597,363

Banco

de

Chile

76,190

0.1

887

Banco

de

Credito

e

Inversiones

SA

27,607

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Chile

(continued)

861,893

Banco

Santander

Chile

$

44,805

0.1

16,380

Cencosud

SA

33,059

0.0

14,292

Empresas

CMPC

SA

24,856

0.0

5,037

Empresas

Copec

SA

33,718

0.0

221,928

Enel

Americas

SA

22,652

0.0

323,566

Enel

Chile

SA

17,810

0.0

11,370

(1)

Falabella

SA

42,102

0.1

1,983,073

Latam

Airlines

Group

SA

25,513

0.0

348,312

0.3

China

:

24.2%

6,300

360

Security

Technology,

Inc.

-

Class

A

7,860

0.0

9,500

AAC

Technologies

Holdings,

Inc.

38,731

0.1

4,200

AECC

Aviation

Power

Co.

Ltd.

-

Class

A

24,560

0.0

74,100

Agricultural

Bank

of

China

Ltd.

-

Class

A

50,459

0.1

328,000

Agricultural

Bank

of

China

Ltd.

-

Class

H

153,036

0.2

7,996

Aier

Eye

Hospital

Group

Co.

Ltd.

-

Class

A

17,906

0.0

7,000

(1)(2)

Akeso,

Inc.

61,385

0.1

186,900

Alibaba

Group

Holding

Ltd.

2,483,674

2.4

16,700

Aluminum

Corp.

of

China

Ltd.

-

Class

A

20,832

0.0

46,000

Aluminum

Corp.

of

China

Ltd.

-

Class

H

36,096

0.1

4,600

Anhui

Conch

Cement

Co.

Ltd.

-

Class

A

17,007

0.0

15,000

Anhui

Conch

Cement

Co.

Ltd.

-

Class

H

43,739

0.1

400

Anhui

Gujing

Distillery

Co.

Ltd.

-

Class

A

11,457

0.0

1,600

Anhui

Gujing

Distillery

Co.

Ltd.

-

Class

B

25,537

0.0

3,100

Anhui

Jianghuai

Automobile

Group

Corp.

Ltd.

-

Class

A

10,951

0.0

16,000

ANTA

Sports

Products

Ltd.

189,406

0.2

846

Autohome,

Inc.,

ADR

27,597

0.0

2,000

Avary

Holding

Shenzhen

Co.

Ltd.

-

Class

A

10,098

0.0

41,000

AviChina

Industry

&

Technology

Co.

Ltd.

-

Class

H

19,931

0.0

28,300

(1)

Baidu,

Inc.

-

Class

A

372,077

0.4

20,900

Bank

of

Beijing

Co.

Ltd.

-

Class

A

17,320

0.0

4,300

Bank

of

Chengdu

Co.

Ltd.

-

Class

A

9,597

0.0

30,100

Bank

of

China

Ltd.

-

Class

A

21,341

0.0

972,000

Bank

of

China

Ltd.

-

Class

H

453,924

0.5

35,300

Bank

of

Communications

Co.

Ltd.

-

Class

A

36,965

0.1

103,000

Bank

of

Communications

Co.

Ltd.

-

Class

H

78,344

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

2

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

6,326

Bank

of

Hangzhou

Co.

Ltd.

-

Class

A

$

12,613

0.0

21,870

Bank

of

Jiangsu

Co.

Ltd.

-

Class

A

26,016

0.0

10,357

Bank

of

Nanjing

Co.

Ltd.

-

Class

A

16,110

0.0

5,500

Bank

of

Ningbo

Co.

Ltd.

-

Class

A

19,918

0.0

14,900

Bank

of

Shanghai

Co.

Ltd.

-

Class

A

16,686

0.0

21,800

Baoshan

Iron

&

Steel

Co.

Ltd.

-

Class

A

21,447

0.0

454

Beijing

Kingsoft

Office

Software,

Inc.

-

Class

A

17,047

0.0

2,000

Beijing

New

Building

Materials

PLC

-

Class

A

9,336

0.0

2,640

Beijing

Tiantan

Biological

Products

Corp.

Ltd.

-

Class

A

9,413

0.0

913

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co.

Ltd.

-

Class

A

10,600

0.0

42,600

Beijing-Shanghai

High

Speed

Railway

Co.

Ltd.

-

Class

A

36,467

0.1

2,980

(1)

Bilibili,

Inc.

-

Class

Z

68,541

0.1

49,800

BOE

Technology

Group

Co.

Ltd.

-

Class

A

31,512

0.0

1,736

BYD

Co.

Ltd.

-

Class

A

74,908

0.1

12,500

BYD

Co.

Ltd.

-

Class

H

445,975

0.4

10,000

BYD

Electronic

International

Co.

Ltd.

41,360

0.1

154,000

(2)

CGN

Power

Co.

Ltd.

-

Class

H

59,154

0.1

2,200

Chaozhou

Three-Circle

Group

Co.

Ltd.

-

Class

A

11,590

0.0

115,000

China

CITIC

Bank

Corp.

Ltd.

-

Class

H

73,006

0.1

25,000

China

Coal

Energy

Co.

Ltd.

-

Class

H

30,961

0.0

28,000

China

Communications

Services

Corp.

Ltd.

-

Class

H

15,031

0.0

12,300

China

Construction

Bank

Corp.

-

Class

A

13,834

0.0

1,173,000

China

Construction

Bank

Corp.

-

Class

H

874,706

0.9

4,000

China

CSSC

Holdings

Ltd.

-

Class

A

23,716

0.0

27,600

(1)

China

Eastern

Airlines

Corp.

Ltd.

-

Class

A

16,173

0.0

33,800

China

Energy

Engineering

Corp.

Ltd.

-

Class

A

11,536

0.0

44,000

China

Everbright

Bank

Co.

Ltd.

-

Class

A

22,447

0.0

46,000

(2)

China

Feihe

Ltd.

34,528

0.0

55,500

China

Galaxy

Securities

Co.

Ltd.

-

Class

H

51,298

0.1

32,000

China

Hongqiao

Group

Ltd.

52,493

0.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

3,800

China

International

Capital

Corp.

Ltd.

-

Class

A

$

20,627

0.0

16,400

(2)

China

International

Capital

Corp.

Ltd.

-

Class

H

28,846

0.0

4,803

China

Jushi

Co.

Ltd.

-

Class

A

7,982

0.0

2,500

China

Life

Insurance

Co.

Ltd.

-

Class

A

15,528

0.0

93,000

China

Life

Insurance

Co.

Ltd.

-

Class

H

183,163

0.2

5,000

(1)(2)

China

Literature

Ltd.

20,508

0.0

42,000

China

Longyuan

Power

Group

Corp.

Ltd.

-

Class

H

37,639

0.1

41,000

China

Mengniu

Dairy

Co.

Ltd.

96,172

0.1

18,000

China

Merchants

Bank

Co.

Ltd.

-

Class

A

95,113

0.1

45,880

China

Merchants

Bank

Co.

Ltd.

-

Class

H

222,328

0.2

8,700

China

Merchants

Energy

Shipping

Co.

Ltd.

-

Class

A

9,909

0.0

7,570

China

Merchants

Securities

Co.

Ltd.

-

Class

A

20,764

0.0

33,280

China

Minsheng

Banking

Corp.

Ltd.

-

Class

A

18,980

0.0

67,600

China

Minsheng

Banking

Corp.

Ltd.

-

Class

H

27,396

0.0

50,000

China

National

Building

Material

Co.

Ltd.

-

Class

H

21,704

0.0

17,400

China

National

Nuclear

Power

Co.

Ltd.

-

Class

A

27,537

0.0

4,000

China

Northern

Rare

Earth

Group

High-Tech

Co.

Ltd.

-

Class

A

11,688

0.0

24,000

China

Oilfield

Services

Ltd.

-

Class

H

22,017

0.0

6,003

China

Pacific

Insurance

Group

Co.

Ltd.

-

Class

A

32,995

0.0

32,600

China

Pacific

Insurance

Group

Co.

Ltd.

-

Class

H

115,439

0.1

28,252

China

Petroleum

&

Chemical

Corp.

-

Class

A

27,840

0.0

299,600

China

Petroleum

&

Chemical

Corp.

-

Class

H

184,222

0.2

19,300

China

Railway

Group

Ltd.

-

Class

A

17,932

0.0

47,000

China

Railway

Group

Ltd.

-

Class

H

24,348

0.0

8,800

(2)

China

Resources

Mixc

Lifestyle

Services

Ltd.

38,700

0.1

18,500

(2)

China

Resources

Pharmaceutical

Group

Ltd.

14,225

0.0

1,300

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co.

Ltd.

-

Class

A

8,770

0.0

5,670

China

Shenhua

Energy

Co.

Ltd.

-

Class

A

34,942

0.0

41,000

China

Shenhua

Energy

Co.

Ltd.

-

Class

H

182,603

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

3

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

14,100

(1)

China

Southern

Airlines

Co.

Ltd.

-

Class

A

$

13,046

0.0

35,640

China

State

Construction

Engineering

Corp.

Ltd.

-

Class

A

31,093

0.0

38,700

China

Three

Gorges

Renewables

Group

Co.

Ltd.

-

Class

A

26,608

0.0

1,703

China

Tourism

Group

Duty

Free

Corp.

Ltd.

-

Class

A

18,442

0.0

582,000

(2)

China

Tower

Corp.

Ltd.

-

Class

H

76,473

0.1

27,600

China

United

Network

Communications

Ltd.

-

Class

A

20,956

0.0

8,400

(1)

China

Vanke

Co.

Ltd.

-

Class

A

11,448

0.0

28,100

(1)(3)

China

Vanke

Co.

Ltd.

-

Class

H

26,458

0.0

20,000

China

Yangtze

Power

Co.

Ltd.

-

Class

A

85,660

0.1

7,460

Chongqing

Changan

Automobile

Co.

Ltd.

-

Class

A

15,632

0.0

4,200

Chongqing

Zhifei

Biological

Products

Co.

Ltd.

-

Class

A

19,801

0.0

71,000

CITIC

Ltd.

82,531

0.1

11,660

CITIC

Securities

Co.

Ltd.

-

Class

A

44,590

0.1

18,825

CITIC

Securities

Co.

Ltd.

-

Class

H

48,988

0.1

21,200

CMOC

Group

Ltd.

-

Class

A

25,864

0.0

42,000

CMOC

Group

Ltd.

-

Class

H

40,545

0.1

3,553

Contemporary

Amperex

Technology

Co.

Ltd.

-

Class

A

124,867

0.1

3,800

COSCO

SHIPPING

Energy

Transportation

Co.

Ltd.

-

Class

A

8,518

0.0

16,000

(3)

COSCO

SHIPPING

Energy

Transportation

Co.

Ltd.

-

Class

H

19,374

0.0

12,560

COSCO

SHIPPING

Holdings

Co.

Ltd.

-

Class

A

27,860

0.0

35,650

COSCO

SHIPPING

Holdings

Co.

Ltd.

-

Class

H

59,569

0.1

162,133

(1)(3)(4)

Country

Garden

Holdings

Co.

Ltd.

10,115

0.0

23,900

CRRC

Corp.

Ltd.

-

Class

A

27,602

0.0

49,000

CRRC

Corp.

Ltd.

-

Class

H

31,893

0.0

4,100

CSC

Financial

Co.

Ltd.

-

Class

A

15,468

0.0

1,760

CSPC

Innovation

Pharmaceutical

Co.

Ltd.

-

Class

A

7,592

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

111,360

CSPC

Pharmaceutical

Group

Ltd.

$

85,281

0.1

3,200

Dongfang

Electric

Corp.

Ltd.

-

Class

A

7,159

0.0

13,943

East

Money

Information

Co.

Ltd.

-

Class

A

39,717

0.1

10,300

ENN

Energy

Holdings

Ltd.

77,375

0.1

3,200

ENN

Natural

Gas

Co.

Ltd.

-

Class

A

9,345

0.0

1,745

Eve

Energy

Co.

Ltd.

-

Class

A

11,990

0.0

4,200

Everbright

Securities

Co.

Ltd.

-

Class

A

11,389

0.0

14,100

Focus

Media

Information

Technology

Co.

Ltd.

-

Class

A

14,079

0.0

4,069

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.

-

Class

A

27,547

0.0

28,468

Fosun

International

Ltd.

18,121

0.0

8,800

Founder

Securities

Co.

Ltd.

-

Class

A

11,614

0.0

11,000

Foxconn

Industrial

Internet

Co.

Ltd.

-

Class

A

39,192

0.1

2,500

Fuyao

Glass

Industry

Group

Co.

Ltd.

-

Class

A

20,738

0.0

7,200

(2)

Fuyao

Glass

Industry

Group

Co.

Ltd.

-

Class

H

48,393

0.1

1,780

Ganfeng

Lithium

Group

Co.

Ltd.

-

Class

A

8,625

0.0

18,100

GD

Power

Development

Co.

Ltd.

-

Class

A

14,045

0.0

14,000

(1)

Genscript

Biotech

Corp.

24,800

0.0

4,000

(2)

Giant

Biogene

Holding

Co.

Ltd.

25,880

0.0

3,500

GoerTek,

Inc.

-

Class

A

11,247

0.0

2,600

Great

Wall

Motor

Co.

Ltd.

-

Class

A

11,098

0.0

29,000

Great

Wall

Motor

Co.

Ltd.

-

Class

H

53,263

0.1

2,700

Gree

Electric

Appliances,

Inc.

of

Zhuhai

-

Class

A

18,297

0.0

1,700

Guangdong

Haid

Group

Co.

Ltd.

-

Class

A

11,552

0.0

6,300

Guangzhou

Automobile

Group

Co.

Ltd.

-

Class

A

7,855

0.0

1,700

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co.

Ltd.

-

Class

A

7,380

0.0

7,700

(4)

Guotai

Junan

Securities

Co.

Ltd.

-

Class

A

16,133

0.0

2,598

H

World

Group

Ltd.,

ADR

96,646

0.1

22,000

(2)

Haidilao

International

Holding

Ltd.

52,651

0.1

6,100

Haier

Smart

Home

Co.

Ltd.

-

Class

A

27,573

0.0

30,000

Haier

Smart

Home

Co.

Ltd.

-

Class

H

117,512

0.1

7,000

Haitian

International

Holdings

Ltd.

22,337

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

4

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

11,000

(4)

Haitong

Securities

Co.

Ltd.

-

Class

A

$

13,750

0.0

28,400

(3)(4)

Haitong

Securities

Co.

Ltd.

-

Class

H

13,371

0.0

16,000

(2)

Hansoh

Pharmaceutical

Group

Co.

Ltd.

42,713

0.1

2,900

Henan

Shenhuo

Coal

&

Power

Co.

Ltd.

-

Class

A

8,175

0.0

3,600

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.

-

Class

A

13,830

0.0

8,000

Hengan

International

Group

Co.

Ltd.

27,322

0.0

6,420

Hengli

Petrochemical

Co.

Ltd.

-

Class

A

14,249

0.0

1,700

Hisense

Home

Appliances

Group

Co.

Ltd.

-

Class

A

8,519

0.0

900

Hoshine

Silicon

Industry

Co.

Ltd.

-

Class

A

7,639

0.0

8,000

(2)

Hua

Hong

Semiconductor

Ltd.

21,331

0.0

8,100

Huadian

Power

International

Corp.

Ltd.

-

Class

A

6,886

0.0

1,740

Huadong

Medicine

Co.

Ltd.

-

Class

A

8,590

0.0

8,500

Huaneng

Power

International,

Inc.

-

Class

A

9,283

0.0

54,000

(3)

Huaneng

Power

International,

Inc.

-

Class

H

32,973

0.0

8,000

Huatai

Securities

Co.

Ltd.

-

Class

A

19,813

0.0

13,400

(2)

Huatai

Securities

Co.

Ltd.

-

Class

H

21,417

0.0

12,900

Huaxia

Bank

Co.

Ltd.

-

Class

A

13,613

0.0

500

Huizhou

Desay

Sv

Automotive

Co.

Ltd.

-

Class

A

8,422

0.0

2,135

Hygon

Information

Technology

Co.

Ltd.

-

Class

A

31,220

0.0

1,468

IEIT

Systems

Co.

Ltd.

-

Class

A

8,608

0.0

317

Imeik

Technology

Development

Co.

Ltd.

-

Class

A

10,555

0.0

56,000

Industrial

&

Commercial

Bank

of

China

Ltd.

-

Class

A

49,030

0.1

838,000

Industrial

&

Commercial

Bank

of

China

Ltd.

-

Class

H

493,806

0.5

17,600

Industrial

Bank

Co.

Ltd.

-

Class

A

47,950

0.1

49,400

(1)

Inner

Mongolia

BaoTou

Steel

Union

Co.

Ltd.

-

Class

A

12,090

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

7,700

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.

-

Class

A

$

31,650

0.0

15,200

Inner

Mongolia

Yitai

Coal

Co.

Ltd.

-

Class

B

32,423

0.0

15,500

(1)(2)

Innovent

Biologics,

Inc.

92,960

0.1

1,300

Isoftstone

Information

Technology

Group

Co.

Ltd.

-

Class

A

9,505

0.0

1,900

JCET

Group

Co.

Ltd.

-

Class

A

9,500

0.0

14,350

(1)(2)

JD

Health

International,

Inc.

62,653

0.1

26,200

(1)(2)

JD

Logistics,

Inc.

46,126

0.1

30,509

JD.com,

Inc.

-

Class

A

611,945

0.6

14,000

Jiangsu

Expressway

Co.

Ltd.

-

Class

H

14,143

0.0

1,320

Jiangsu

Hengli

Hydraulic

Co.

Ltd.

-

Class

A

11,773

0.0

5,677

Jiangsu

Hengrui

Pharmaceuticals

Co.

Ltd.

-

Class

A

41,796

0.1

1,300

Jiangsu

King's

Luck

Brewery

JSC

Ltd.

-

Class

A

9,467

0.0

1,276

Jiangsu

Yanghe

Brewery

Joint-Stock

Co.

Ltd.

-

Class

A

17,849

0.0

3,500

Jiangsu

Zhongtian

Technology

Co.

Ltd.

-

Class

A

7,670

0.0

19,000

Jiangxi

Copper

Co.

Ltd.

-

Class

H

38,171

0.1

3,440

Kanzhun

Ltd.,

ADR

59,718

0.1

8,128

KE

Holdings,

Inc.,

ADR

161,828

0.2

35,000

(1)

Kingdee

International

Software

Group

Co.

Ltd.

39,471

0.1

12,200

Kingsoft

Corp.

Ltd.

45,720

0.1

29,500

(1)(2)

Kuaishou

Technology

202,702

0.2

1,000

Kweichow

Moutai

Co.

Ltd.

-

Class

A

245,047

0.3

2,900

LB

Group

Co.

Ltd.

-

Class

A

8,511

0.0

102,000

Lenovo

Group

Ltd.

136,735

0.1

5,000

Lens

Technology

Co.

Ltd.

-

Class

A

14,494

0.0

15,300

(1)

Li

Auto,

Inc.

-

Class

A

196,742

0.2

30,000

Li

Ning

Co.

Ltd.

73,756

0.1

25,000

(2)

Longfor

Group

Holdings

Ltd.

47,109

0.1

6,444

LONGi

Green

Energy

Technology

Co.

Ltd.

-

Class

A

15,974

0.0

6,166

Luxshare

Precision

Industry

Co.

Ltd.

-

Class

A

37,857

0.1

1,300

Luzhou

Laojiao

Co.

Ltd.

-

Class

A

27,242

0.0

61,240

(1)(2)

Meituan

-

Class

B

1,300,455

1.3

3,600

Midea

Group

Co.

Ltd.

-

Class

A

38,791

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

5

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

4,600

MINISO

Group

Holding

Ltd.

$

20,493

0.0

44,800

(1)

MMG

Ltd.

15,559

0.0

2,029

Montage

Technology

Co.

Ltd.

-

Class

A

19,198

0.0

4,712

(1)

Muyuan

Foods

Co.

Ltd.

-

Class

A

30,797

0.0

7,661

NARI

Technology

Co.

Ltd.

-

Class

A

29,876

0.0

400

NAURA

Technology

Group

Co.

Ltd.

-

Class

A

20,773

0.0

23,900

NetEase,

Inc.

446,445

0.4

2,300

New

China

Life

Insurance

Co.

Ltd.

-

Class

A

14,938

0.0

9,900

New

China

Life

Insurance

Co.

Ltd.

-

Class

H

30,586

0.0

18,700

New

Oriental

Education

&

Technology

Group,

Inc.

142,712

0.2

700

Ningbo

Deye

Technology

Co.

Ltd.

-

Class

A

10,054

0.0

1,595

Ningbo

Tuopu

Group

Co.

Ltd.

-

Class

A

10,338

0.0

7,800

Ningxia

Baofeng

Energy

Group

Co.

Ltd.

-

Class

A

19,188

0.0

17,050

(1)

NIO,

Inc.

-

Class

A

114,886

0.1

26,000

(2)

Nongfu

Spring

Co.

Ltd.

-

Class

H

111,984

0.1

124,000

People's

Insurance

Co.

Group

of

China

Ltd.

-

Class

H

58,750

0.1

18,600

PetroChina

Co.

Ltd.

-

Class

A

23,864

0.0

258,000

PetroChina

Co.

Ltd.

-

Class

H

208,121

0.2

87,244

PICC

Property

&

Casualty

Co.

Ltd.

-

Class

H

129,144

0.1

17,000

Ping

An

Bank

Co.

Ltd.

-

Class

A

29,287

0.0

9,600

Ping

An

Insurance

Group

Co.

of

China

Ltd.

-

Class

A

77,262

0.1

81,500

Ping

An

Insurance

Group

Co.

of

China

Ltd.

-

Class

H

511,782

0.5

10,200

Poly

Developments

and

Holdings

Group

Co.

Ltd.

-

Class

A

15,707

0.0

6,400

(2)

Pop

Mart

International

Group

Ltd.

43,245

0.1

25,400

Postal

Savings

Bank

of

China

Co.

Ltd.

-

Class

A

18,919

0.0

97,000

(2)

Postal

Savings

Bank

of

China

Co.

Ltd.

-

Class

H

57,330

0.1

15,900

Power

Construction

Corp.

of

China

Ltd.

-

Class

A

12,671

0.0

1,456

Qifu

Technology,

Inc.,

ADR

43,403

0.1

5,526

(1)

Qinghai

Salt

Lake

Industry

Co.

Ltd.

-

Class

A

14,499

0.0

9,250

Rongsheng

Petrochemical

Co.

Ltd.

-

Class

A

13,545

0.0

12,000

SAIC

Motor

Corp.

Ltd.

-

Class

A

24,867

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

11,600

Sany

Heavy

Industry

Co.

Ltd.

-

Class

A

$

30,941

0.0

3,955

Satellite

Chemical

Co.

Ltd.

-

Class

A

10,429

0.0

8,100

SDIC

Power

Holdings

Co.

Ltd.

-

Class

A

19,569

0.0

1,400

(1)

Seres

Group

Co.

Ltd.

-

Class

A

17,851

0.0

4,400

SF

Holding

Co.

Ltd.

-

Class

A

27,857

0.0

8,300

Shaanxi

Coal

Industry

Co.

Ltd.

-

Class

A

32,269

0.0

4,364

Shandong

Gold

Mining

Co.

Ltd.

-

Class

A

18,170

0.0

8,000

(2)

Shandong

Gold

Mining

Co.

Ltd.

-

Class

H

17,849

0.0

31,200

Shandong

Weigao

Group

Medical

Polymer

Co.

Ltd.

-

Class

H

22,556

0.0

2,131

Shanghai

Baosight

Software

Co.

Ltd.

-

Class

A

9,963

0.0

9,979

Shanghai

Baosight

Software

Co.

Ltd.

-

Class

B

17,041

0.0

840

Shanghai

Baosight

Software

Co.

Ltd.

-

Class

B

1,434

0.0

15,100

(1)

Shanghai

Electric

Group

Co.

Ltd.

-

Class

A

9,680

0.0

2,900

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.

-

Class

A

11,398

0.0

12,500

Shanghai

Pharmaceuticals

Holding

Co.

Ltd.

-

Class

H

20,253

0.0

24,100

Shanghai

Pudong

Development

Bank

Co.

Ltd.

-

Class

A

34,395

0.0

8,600

Shanghai

Rural

Commercial

Bank

Co.

Ltd.

-

Class

A

9,107

0.0

768

Shanghai

United

Imaging

Healthcare

Co.

Ltd.

-

Class

A

13,904

0.0

3,150

Shanxi

Lu'an

Environmental

Energy

Development

Co.

Ltd.

-

Class

A

7,846

0.0

1,080

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.

-

Class

A

33,166

0.0

2,900

Shengyi

Technology

Co.

Ltd.

-

Class

A

8,580

0.0

620

Shennan

Circuits

Co.

Ltd.

-

Class

A

9,754

0.0

22,800

Shenwan

Hongyuan

Group

Co.

Ltd.

-

Class

A

18,439

0.0

1,400

Shenzhen

Inovance

Technology

Co.

Ltd.

-

Class

A

12,337

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

6

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

1,000

Shenzhen

Mindray

Bio-

Medical

Electronics

Co.

Ltd.

-

Class

A

$

41,237

0.1

880

Shenzhen

New

Industries

Biomedical

Engineering

Co.

Ltd.

-

Class

A

10,237

0.0

1,125

Shenzhen

Transsion

Holdings

Co.

Ltd.

-

Class

A

17,302

0.0

10,600

Shenzhou

International

Group

Holdings

Ltd.

93,841

0.1

4,500

Sichuan

Chuantou

Energy

Co.

Ltd.

-

Class

A

12,090

0.0

1,700

Sichuan

Kelun

Pharmaceutical

Co.

Ltd.

-

Class

A

7,685

0.0

1,300

Sieyuan

Electric

Co.

Ltd.

-

Class

A

13,642

0.0

4,000

Silergy

Corp.

58,908

0.1

17,200

Sinopharm

Group

Co.

Ltd.

-

Class

H

45,378

0.1

8,500

Sinotruk

Hong

Kong

Ltd.

25,531

0.0

24,000

(2)

Smoore

International

Holdings

Ltd.

39,439

0.1

1,300

Spring

Airlines

Co.

Ltd.

-

Class

A

11,341

0.0

1,680

Sungrow

Power

Supply

Co.

Ltd.

-

Class

A

23,505

0.0

9,400

Sunny

Optical

Technology

Group

Co.

Ltd.

68,013

0.1

580

Suzhou

TFC

Optical

Communication

Co.

Ltd.

-

Class

A

8,292

0.0

5,324

(1)

TAL

Education

Group,

ADR

63,036

0.1

5,350

TBEA

Co.

Ltd.

-

Class

A

11,109

0.0

32,520

TCL

Technology

Group

Corp.

-

Class

A

21,060

0.0

80,400

Tencent

Holdings

Ltd.

4,470,633

4.3

9,447

Tencent

Music

Entertainment

Group,

ADR

113,836

0.1

24,000

Tingyi

Cayman

Islands

Holding

Corp.

34,432

0.0

15,600

Tongcheng

Travel

Holdings

Ltd.

39,174

0.1

3,900

Tongwei

Co.

Ltd.

-

Class

A

12,560

0.0

6,850

(1)

Trip.com

Group

Ltd.

412,154

0.4

800

Tsingtao

Brewery

Co.

Ltd.

-

Class

A

8,853

0.0

8,000

Tsingtao

Brewery

Co.

Ltd.

-

Class

H

62,016

0.1

2,600

Unisplendour

Corp.

Ltd.

-

Class

A

8,868

0.0

4,789

Vipshop

Holdings

Ltd.,

ADR

75,331

0.1

2,900

Wanhua

Chemical

Group

Co.

Ltd.

-

Class

A

37,257

0.1

8,100

Weichai

Power

Co.

Ltd.

-

Class

A

18,166

0.0

23,000

Weichai

Power

Co.

Ltd.

-

Class

H

42,038

0.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

5,820

Wens

Foodstuffs

Group

Co.

Ltd.

-

Class

A

$

16,605

0.0

1,160

Will

Semiconductor

Co.

Ltd.

Shanghai

-

Class

A

17,551

0.0

3,200

Wuliangye

Yibin

Co.

Ltd.

-

Class

A

73,218

0.1

2,130

WUS

Printed

Circuit

Kunshan

Co.

Ltd.

-

Class

A

12,244

0.0

2,376

WuXi

AppTec

Co.

Ltd.

-

Class

A

17,484

0.0

4,141

(2)(3)

WuXi

AppTec

Co.

Ltd.

-

Class

H

28,616

0.0

44,500

(1)(2)

Wuxi

Biologics

Cayman,

Inc.

98,383

0.1

12,500

XCMG

Construction

Machinery

Co.

Ltd.

-

Class

A

13,750

0.0

189,800

(1)(2)

Xiaomi

Corp.

-

Class

B

534,609

0.5

60,000

Xinyi

Solar

Holdings

Ltd.

31,866

0.0

15,600

(1)

XPeng,

Inc.

-

Class

A

96,262

0.1

14,000

(2)

Yadea

Group

Holdings

Ltd.

24,705

0.0

4,875

Yankuang

Energy

Group

Co.

Ltd.

-

Class

A

11,557

0.0

40,900

(3)

Yankuang

Energy

Group

Co.

Ltd.

-

Class

H

57,576

0.1

4,000

Yintai

Gold

Co.

Ltd.

-

Class

A

10,546

0.0

3,700

YTO

Express

Group

Co.

Ltd.

-

Class

A

9,343

0.0

4,880

Yum

China

Holdings,

Inc.

219,698

0.2

4,100

Yunnan

Aluminium

Co.

Ltd.

-

Class

A

8,527

0.0

3,200

Yunnan

Baiyao

Group

Co.

Ltd.

-

Class

A

27,623

0.0

2,000

Zangge

Mining

Co.

Ltd.

-

Class

A

8,102

0.0

600

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.

-

Class

A

21,909

0.0

20,000

Zhaojin

Mining

Industry

Co.

Ltd.

-

Class

H

35,154

0.1

6,900

Zhejiang

China

Commodities

City

Group

Co.

Ltd.

-

Class

A

9,409

0.0

3,400

Zhejiang

Dahua

Technology

Co.

Ltd.

-

Class

A

8,275

0.0

3,280

Zhejiang

Juhua

Co.

Ltd.

-

Class

A

10,293

0.0

6,100

(1)(2)(3)

Zhejiang

Leapmotor

Technology

Co.

Ltd.

25,713

0.0

3,712

Zhejiang

NHU

Co.

Ltd.

-

Class

A

11,839

0.0

13,200

Zhejiang

Zheneng

Electric

Power

Co.

Ltd.

-

Class

A

12,596

0.0

4,700

Zheshang

Securities

Co.

Ltd.

-

Class

A

9,557

0.0

980

Zhongji

Innolight

Co.

Ltd.

-

Class

A

21,648

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

7

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

China

(continued)

6,100

Zhongjin

Gold

Corp.

Ltd.

-

Class

A

$

13,097

0.0

7,300

Zhuzhou

CRRC

Times

Electric

Co.

Ltd.

-

Class

H

28,594

0.0

19,900

Zijin

Mining

Group

Co.

Ltd.

-

Class

A

50,575

0.1

66,000

Zijin

Mining

Group

Co.

Ltd.

-

Class

H

147,355

0.2

8,300

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.

-

Class

A

8,915

0.0

6,400

ZTE

Corp.

-

Class

A

28,175

0.0

6,240

ZTE

Corp.

-

Class

H

15,990

0.0

5,500

ZTO

Express

Cayman,

Inc.

138,599

0.2

25,020,867

24.2

Colombia

:

0.0%

3,001

Bancolombia

SA

-

Preference

Shares

25,857

0.0

5,343

Interconexion

Electrica

SA

ESP

21,697

0.0

47,554

0.0

Czechia

:

0.1%

1,998

CEZ

AS

77,672

0.1

988

Komercni

Banka

AS

34,830

0.0

4,366

(2)

Moneta

Money

Bank

AS

21,435

0.0

133,937

0.1

Egypt

:

0.1%

30,185

Commercial

International

Bank

Egypt

SAE

52,830

0.1

7,538

Talaat

Moustafa

Group

9,946

0.0

62,776

0.1

Greece

:

0.5%

28,083

Alpha

Services

and

Holdings

SA

48,766

0.1

32,150

Eurobank

Ergasias

Services

and

Holdings

SA

73,637

0.1

4,349

(4)

FF

Group

—

—

2,452

Hellenic

Telecommunications

Organization

SA

42,311

0.0

1,487

Jumbo

SA

42,591

0.0

1,322

Mytilineos

SA

51,979

0.1

9,671

National

Bank

of

Greece

SA

82,673

0.1

2,014

OPAP

SA

35,780

0.0

13,245

Piraeus

Financial

Holdings

SA

56,388

0.1

2,629

Public

Power

Corp.

SA

35,239

0.0

469,364

0.5

Hong

Kong

:

1.1%

66,000

(1)(3)

Alibaba

Health

Information

Technology

Ltd.

44,383

0.1

6,000

Beijing

Enterprises

Holdings

Ltd.

21,337

0.0

50,000

Beijing

Enterprises

Water

Group

Ltd.

15,520

0.0

48,000

Bosideng

International

Holdings

Ltd.

27,304

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Hong

Kong

(continued)

35,000

China

Gas

Holdings

Ltd.

$

32,324

0.0

13,338

China

Merchants

Port

Holdings

Co.

Ltd.

21,134

0.0

50,000

China

Overseas

Land

&

Investment

Ltd.

100,162

0.1

62,000

China

Power

International

Development

Ltd.

29,433

0.0

21,500

China

Resources

Beer

Holdings

Co.

Ltd.

92,058

0.1

12,100

China

Resources

Gas

Group

Ltd.

48,429

0.1

41,444

China

Resources

Land

Ltd.

149,087

0.2

26,000

China

Resources

Power

Holdings

Co.

Ltd.

70,090

0.1

76,000

(1)(3)

China

Ruyi

Holdings

Ltd.

21,954

0.0

26,000

China

State

Construction

International

Holdings

Ltd.

40,356

0.0

16,828

China

Taiping

Insurance

Holdings

Co.

Ltd.

26,765

0.0

25,400

Chow

Tai

Fook

Jewellery

Group

Ltd.

28,165

0.0

23,000

Far

East

Horizon

Ltd.

16,835

0.0

283,000

(1)

GCL

Technology

Holdings

Ltd.

50,507

0.1

80,000

Geely

Automobile

Holdings

Ltd.

122,720

0.1

36,000

Guangdong

Investment

Ltd.

24,047

0.0

50,000

Kunlun

Energy

Co.

Ltd.

51,379

0.1

2,000

Orient

Overseas

International

Ltd.

28,146

0.0

138,250

Sino

Biopharmaceutical

Ltd.

65,224

0.1

60,000

Want

Want

China

Holdings

Ltd.

41,215

0.0

1,168,574

1.1

Hungary

:

0.2%

4,951

MOL

Hungarian

Oil

&

Gas

PLC

37,034

0.0

2,736

OTP

Bank

Nyrt

143,108

0.1

1,784

Richter

Gedeon

Nyrt

54,932

0.1

235,074

0.2

India

:

19.1%

669

ABB

India

Ltd.

64,296

0.1

1,854

Adani

Enterprises

Ltd.

69,294

0.1

3,900

(1)

Adani

Green

Energy

Ltd.

88,446

0.1

6,683

Adani

Ports

&

Special

Economic

Zone

Ltd.

115,402

0.1

9,553

(1)

Adani

Power

Ltd.

74,757

0.1

7,778

Ambuja

Cements

Ltd.

58,656

0.1

2,187

APL

Apollo

Tubes

Ltd.

41,283

0.0

1,260

Apollo

Hospitals

Enterprise

Ltd.

108,290

0.1

19,727

Ashok

Leyland

Ltd.

55,353

0.1

4,747

Asian

Paints

Ltd.

188,727

0.2

1,786

Astral

Ltd.

42,435

0.0

2,570

(2)

AU

Small

Finance

Bank

Ltd.

22,659

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

8

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

India

(continued)

3,382

Aurobindo

Pharma

Ltd.

$

58,914

0.1

2,013

(1)(2)

Avenue

Supermarts

Ltd.

122,405

0.1

28,176

Axis

Bank

Ltd.

414,242

0.4

824

Bajaj

Auto

Ltd.

121,311

0.1

3,434

Bajaj

Finance

Ltd.

315,509

0.3

4,741

Bajaj

Finserv

Ltd.

111,664

0.1

320

Bajaj

Holdings

&

Investment

Ltd.

40,109

0.0

986

Balkrishna

Industries

Ltd.

35,881

0.0

12,921

Bank

of

Baroda

38,195

0.0

45,707

Bharat

Electronics

Ltd.

155,734

0.2

3,319

Bharat

Forge

Ltd.

59,964

0.1

13,451

Bharat

Heavy

Electricals

Ltd.

44,766

0.0

19,184

Bharat

Petroleum

Corp.

Ltd.

84,539

0.1

31,408

Bharti

Airtel

Ltd.

640,298

0.6

52

Bosch

Ltd.

23,386

0.0

1,330

Britannia

Industries

Ltd.

100,642

0.1

11,706

Canara

Bank

15,565

0.0

7,739

CG

Power

&

Industrial

Solutions

Ltd.

70,042

0.1

5,304

Cholamandalam

Investment

and

Finance

Co.

Ltd.

101,809

0.1

6,611

Cipla

Ltd./India

130,618

0.1

20,798

Coal

India

Ltd.

126,387

0.1

1,714

Colgate-Palmolive

India

Ltd.

77,783

0.1

3,345

Container

Corp.

Of

India

Ltd.

36,610

0.0

1,756

Cummins

India

Ltd.

79,838

0.1

6,516

Dabur

India

Ltd.

48,566

0.1

1,503

Divi's

Laboratories

Ltd.

97,643

0.1

352

Dixon

Technologies

India

Ltd.

57,918

0.1

9,368

DLF

Ltd.

99,959

0.1

1,483

Dr

Reddy's

Laboratories

Ltd.

119,379

0.1

1,713

Eicher

Motors

Ltd.

102,740

0.1

28,873

GAIL

India

Ltd.

82,771

0.1

29,862

(1)

GMR

Airports

Infrastructure

Ltd.

33,523

0.0

5,174

Godrej

Consumer

Products

Ltd.

85,887

0.1

1,621

(1)

Godrej

Properties

Ltd.

61,134

0.1

3,375

Grasim

Industries

Ltd.

112,502

0.1

3,191

Havells

India

Ltd.

76,626

0.1

11,719

HCL

Technologies

Ltd.

251,023

0.2

1,211

(2)

HDFC

Asset

Management

Co.

Ltd.

62,096

0.1

52,272

HDFC

Bank

Ltd.

1,076,507

1.0

12,207

(2)

HDFC

Life

Insurance

Co.

Ltd.

104,604

0.1

1,501

Hero

MotoCorp

Ltd.

102,351

0.1

16,794

Hindalco

Industries

Ltd.

151,799

0.2

2,504

Hindustan

Aeronautics

Ltd.

132,130

0.1

11,385

Hindustan

Petroleum

Corp.

Ltd.

59,737

0.1

10,091

Hindustan

Unilever

Ltd.

356,180

0.3

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

India

(continued)

63,892

ICICI

Bank

Ltd.

$

969,597

0.9

2,998

(2)

ICICI

Lombard

General

Insurance

Co.

Ltd.

77,903

0.1

4,387

(2)

ICICI

Prudential

Life

Insurance

Co.

Ltd.

40,806

0.0

43,924

(1)

IDFC

First

Bank

Ltd.

38,974

0.0

10,763

Indian

Hotels

Co.

Ltd.

87,959

0.1

35,497

Indian

Oil

Corp.

Ltd.

76,288

0.1

3,033

Indian

Railway

Catering

&

Tourism

Corp.

Ltd.

33,597

0.0

15,365

(1)

Indus

Towers

Ltd.

71,987

0.1

3,762

IndusInd

Bank

Ltd.

64,943

0.1

909

Info

Edge

India

Ltd.

87,828

0.1

40,801

Infosys

Ltd.

911,361

0.9

2,160

(1)(2)

InterGlobe

Aviation

Ltd.

123,208

0.1

36,923

ITC

Ltd.

228,199

0.2

3,097

Jindal

Stainless

Ltd.

29,216

0.0

4,553

Jindal

Steel

&

Power

Ltd.

56,385

0.1

3,529

JSW

Energy

Ltd.

30,843

0.0

7,679

JSW

Steel

Ltd.

94,281

0.1

4,718

Jubilant

Foodworks

Ltd.

38,377

0.0

13,514

Kotak

Mahindra

Bank

Ltd.

298,722

0.3

8,284

Larsen

&

Toubro

Ltd.

363,283

0.4

944

(2)

LTIMindtree

Ltd.

70,327

0.1

2,682

Lupin

Ltd.

70,126

0.1

3,393

(2)

Macrotech

Developers

Ltd.

49,961

0.1

11,484

Mahindra

&

Mahindra

Ltd.

423,857

0.4

876

(1)

Mankind

Pharma

Ltd.

26,368

0.0

6,615

Marico

Ltd.

54,869

0.1

1,548

Maruti

Suzuki

India

Ltd.

244,428

0.2

9,684

Max

Healthcare

Institute

Ltd.

113,748

0.1

1,299

Mphasis

Ltd.

46,576

0.0

31

MRF

Ltd.

51,220

0.1

1,397

Muthoot

Finance

Ltd.

33,873

0.0

4,112

Nestle

India

Ltd.

132,011

0.1

29,230

NHPC

Ltd.

33,050

0.0

12,681

NMDC

Ltd.

37,066

0.0

53,808

NTPC

Ltd.

283,914

0.3

39,276

Oil

&

Natural

Gas

Corp.

Ltd.

139,746

0.1

5,558

Oil

India

Ltd.

38,499

0.0

170

Oracle

Financial

Services

Software

Ltd.

23,216

0.0

78

Page

Industries

Ltd.

39,931

0.0

3,409

(1)

PB

Fintech

Ltd.

65,709

0.1

1,338

Persistent

Systems

Ltd.

86,990

0.1

9,738

Petronet

LNG

Ltd.

39,728

0.0

2,130

Phoenix

Mills

Ltd.

46,858

0.1

987

PI

Industries

Ltd.

54,842

0.1

1,928

Pidilite

Industries

Ltd.

77,366

0.1

658

Polycab

India

Ltd.

54,607

0.1

18,452

Power

Finance

Corp.

Ltd.

107,570

0.1

57,352

Power

Grid

Corp.

of

India

Ltd.

241,887

0.2

1,799

Prestige

Estates

Projects

Ltd.

39,555

0.0

28,889

Punjab

National

Bank

36,914

0.0

6,129

Rail

Vikas

Nigam

Ltd.

38,901

0.0

16,383

REC

Ltd.

108,457

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

9

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

India

(continued)

37,335

Reliance

Industries

Ltd.

$

1,313,556

1.3

35,486

(1)

Reliance

Strategic

Investments

Ltd.

148,193

0.1

31,742

Samvardhana

Motherson

International

Ltd.

79,970

0.1

3,339

SBI

Cards

&

Payment

Services

Ltd.

30,835

0.0

5,626

(2)

SBI

Life

Insurance

Co.

Ltd.

123,556

0.1

116

Shree

Cement

Ltd.

36,420

0.0

3,527

Shriram

Finance

Ltd.

150,804

0.2

1,123

Siemens

Ltd.

97,071

0.1

286

Solar

Industries

India

Ltd.

39,326

0.0

5,274

(2)

Sona

Blw

Precision

Forgings

Ltd.

46,748

0.1

1,816

SRF

Ltd.

54,149

0.1

21,955

State

Bank

of

India

206,136

0.2

11,815

Sun

Pharmaceutical

Industries

Ltd.

271,632

0.3

612

Sundaram

Finance

Ltd.

38,429

0.0

815

Supreme

Industries

Ltd.

51,761

0.1

117,061

(1)

Suzlon

Energy

Ltd.

111,702

0.1

1,565

Tata

Communications

Ltd.

39,859

0.0

11,074

Tata

Consultancy

Services

Ltd.

563,871

0.5

7,388

Tata

Consumer

Products

Ltd.

105,461

0.1

422

Tata

Elxsi

Ltd.

38,876

0.0

24,897

Tata

Motors

Ltd.

289,180

0.3

18,094

Tata

Power

Co.

Ltd.

104,040

0.1

93,197

Tata

Steel

Ltd.

187,582

0.2

6,814

Tech

Mahindra

Ltd.

128,307

0.1

352

Thermax

Ltd.

21,378

0.0

4,371

Titan

Co.

Ltd.

199,342

0.2

1,303

Torrent

Pharmaceuticals

Ltd.

52,789

0.1

1,715

Torrent

Power

Ltd.

38,410

0.0

2,235

Trent

Ltd.

202,204

0.2

1,354

Tube

Investments

of

India

Ltd.

70,085

0.1

2,967

TVS

Motor

Co.

Ltd.

100,533

0.1

1,442

UltraTech

Cement

Ltd.

203,039

0.2

19,285

Union

Bank

of

India

Ltd.

28,234

0.0

3,673

United

Spirits

Ltd.

69,660

0.1

6,148

UPL

Ltd.

44,924

0.0

14,094

Varun

Beverages

Ltd.

101,970

0.1

16,179

Vedanta

Ltd.

98,870

0.1

280,413

(1)

Vodafone

Idea

Ltd.

34,650

0.0

16,485

Wipro

Ltd.

106,441

0.1

171,086

(1)

Yes

Bank

Ltd.

45,969

0.0

81,460

(1)

Zomato

Ltd.

265,142

0.3

1,924

Zydus

Lifesciences

Ltd.

24,532

0.0

19,812,447

19.1

Indonesia

:

1.6%

184,900

Adaro

Energy

Indonesia

Tbk

PT

46,542

0.0

80,400

(1)

Amman

Mineral

Internasional

PT

49,318

0.1

247,700

Astra

International

Tbk

PT

82,500

0.1

679,600

Bank

Central

Asia

Tbk

PT

463,466

0.5

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Indonesia

(continued)

461,000

Bank

Mandiri

Persero

Tbk

PT

$

212,058

0.2

191,100

Bank

Negara

Indonesia

Persero

Tbk

PT

67,481

0.1

842,238

Bank

Rakyat

Indonesia

Persero

Tbk

PT

275,464

0.3

357,182

Barito

Pacific

Tbk

PT

24,711

0.0

87,600

Chandra

Asri

Pacific

Tbk

PT

49,036

0.0

93,800

Charoen

Pokphand

Indonesia

Tbk

PT

29,119

0.0

11,332,400

(1)

GoTo

Gojek

Tokopedia

Tbk

PT

49,376

0.1

32,000

Indah

Kiat

Pulp

&

Paper

Tbk

PT

18,260

0.0

26,600

Indofood

CBP

Sukses

Makmur

Tbk

PT

21,654

0.0

43,600

Indofood

Sukses

Makmur

Tbk

PT

20,302

0.0

267,400

Kalbe

Farma

Tbk

PT

30,467

0.0

128,256

(1)

Merdeka

Copper

Gold

Tbk

PT

22,861

0.0

235,500

Sumber

Alfaria

Trijaya

Tbk

PT

49,153

0.1

625,000

Telkom

Indonesia

Persero

Tbk

PT

123,759

0.1

18,800

United

Tractors

Tbk

PT

33,766

0.0

1,669,293

1.6

Ireland

:

1.1%

8,534

(1)

PDD

Holdings,

Inc.,

ADR

1,150,469

1.1

Kuwait

:

0.7%

19,443

Boubyan

Bank

KSCP

36,336

0.0

27,791

Gulf

Bank

KSCP

27,619

0.0

123,449

Kuwait

Finance

House

KSCP

289,812

0.3

8,305

Mabanee

Co.

KPSC

22,765

0.0

25,052

Mobile

Telecommunications

Co.

KSCP

38,996

0.1

98,072

National

Bank

of

Kuwait

SAKP

283,818

0.3

699,346

0.7

Luxembourg

:

0.0%

1,691

Reinet

Investments

SCA

46,866

0.0

Malaysia

:

1.5%

34,200

AMMB

Holdings

Bhd

41,491

0.1

33,400

Axiata

Group

Bhd

20,359

0.0

46,300

CelcomDIGI

Bhd

41,811

0.1

86,200

CIMB

Group

Holdings

Bhd

168,679

0.2

23,600

Gamuda

Bhd

46,167

0.1

24,800

Genting

Bhd

25,402

0.0

35,900

Genting

Malaysia

Bhd

21,077

0.0

8,172

Hong

Leong

Bank

Bhd

42,786

0.1

23,500

IHH

Healthcare

Bhd

40,805

0.1

43,900

Inari

Amertron

Bhd

30,908

0.0

31,000

IOI

Corp.

Bhd

28,242

0.0

5,900

Kuala

Lumpur

Kepong

Bhd

29,331

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

10

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Malaysia

(continued)

66,300

Malayan

Banking

Bhd

$

168,529

0.2

12,900

Malaysia

Airports

Holdings

Bhd

32,723

0.0

30,000

Maxis

Bhd

28,744

0.0

14,700

MISC

Bhd

27,826

0.0

46,100

(2)

MR

DIY

Group

M

Bhd

23,641

0.0

700

Nestle

Malaysia

Bhd

17,700

0.0

37,600

Petronas

Chemicals

Group

Bhd

51,425

0.1

3,500

Petronas

Dagangan

Bhd

15,160

0.0

7,800

Petronas

Gas

Bhd

34,049

0.1

7,780

PPB

Group

Bhd

27,236

0.0

49,100

Press

Metal

Aluminium

Holdings

Bhd

60,365

0.1

181,300

Public

Bank

Bhd

200,405

0.2

22,500

QL

Resources

Bhd

25,525

0.0

14,976

RHB

Bank

Bhd

22,444

0.0

41,800

Sime

Darby

Bhd

24,923

0.0

26,200

Sime

Darby

Plantation

Bhd

30,391

0.0

19,300

Sunway

Bhd

19,644

0.0

14,000

Telekom

Malaysia

Bhd

22,744

0.0

32,400

Tenaga

Nasional

Bhd

113,597

0.1

41,800

YTL

Corp.

Bhd

25,574

0.0

31,000

YTL

Power

International

Bhd

27,653

0.0

1,537,356

1.5

Mexico

:

1.8%

38,192

Alfa

SAB

de

CV

-

Class

A

31,306

0.0

228,393

America

Movil

SAB

de

CV

187,563

0.2

6,174

Arca

Continental

SAB

de

CV

57,686

0.1

9,822

(2)

Banco

del

Bajio

SA

22,996

0.0

192,227

Cemex

SAB

de

CV

117,640

0.1

6,492

Coca-Cola

Femsa

SAB

de

CV

57,363

0.1

36,860

Fibra

Uno

Administracion

SA

de

CV

42,925

0.0

22,095

Fomento

Economico

Mexicano

SAB

de

CV

217,842

0.2

2,362

Gruma

SAB

de

CV

-

Class

B

43,768

0.0

3,500

Grupo

Aeroportuario

del

Centro

Norte

SAB

de

CV

29,522

0.0

4,941

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV

-

Class

B

85,636

0.1

2,331

Grupo

Aeroportuario

del

Sureste

SAB

de

CV

-

Class

B

65,871

0.1

16,829

Grupo

Bimbo

SAB

de

CV

57,872

0.1

7,359

Grupo

Carso

SAB

de

CV

45,425

0.1

1,400

Grupo

Comercial

Chedraui

SA

de

CV

10,486

0.0

32,408

Grupo

Financiero

Banorte

SAB

de

CV

-

Class

O

230,658

0.2

24,088

(1)

Grupo

Financiero

Inbursa

SAB

de

CV

-

Class

O

54,892

0.1

38,402

Grupo

Mexico

SAB

de

CV

214,536

0.2

2,478

(1)

Industrias

Penoles

SAB

de

CV

32,847

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Mexico

(continued)

17,951

Kimberly-Clark

de

Mexico

SAB

de

CV

-

Class

A

$

29,083

0.0

12,382

Orbia

Advance

Corp.

SAB

de

CV

12,564

0.0

12,800

Prologis

Property

Mexico

SA

de

CV

41,852

0.0

2,370

Promotora

y

Operadora

de

Infraestructura

SAB

de

CV

22,467

0.0

63,221

Wal-Mart

de

Mexico

SAB

de

CV

190,755

0.2

1,903,555

1.8

Netherlands

:

0.1%

6,984

NEPI

Rockcastle

NV

58,972

0.1

Peru

:

0.2%

2,180

Cia

de

Minas

Buenaventura

SAA,

ADR

30,171

0.0

839

Credicorp

Ltd.

151,834

0.2

182,005

0.2

Philippines

:

0.6%

2,905

Ayala

Corp.

34,888

0.0

86,790

Ayala

Land,

Inc.

56,525

0.1

24,248

Bank

of

the

Philippine

Islands

58,734

0.1

30,509

BDO

Unibank,

Inc.

86,391

0.1

12,810

International

Container

Terminal

Services,

Inc.

92,833

0.1

5,430

Jollibee

Foods

Corp.

26,046

0.0

3,480

Manila

Electric

Co.

27,213

0.0

21,612

Metropolitan

Bank

&

Trust

Co.

30,391

0.0

955

PLDT,

Inc.

25,352

0.0

2,522

SM

Investments

Corp.

43,092

0.1

130,000

SM

Prime

Holdings,

Inc.

74,857

0.1

10,430

Universal

Robina

Corp.

19,359

0.0

575,681

0.6

Poland

:

0.8%

517

Alior

Bank

SA

12,432

0.0

7,223

(1)(2)

Allegro.eu

SA

65,307

0.1

2,306

Bank

Polska

Kasa

Opieki

SA

88,043

0.1

146

Budimex

SA

22,655

0.0

792

CD

Projekt

SA

35,837

0.0

612

(1)(2)

Dino

Polska

SA

55,762

0.1

1,760

KGHM

Polska

Miedz

SA

72,779

0.1

13

L.P.

SA

53,286

0.0

169

(1)

mBank

SA

27,118

0.0

10,848

(1)

PGE

Polska

Grupa

Energetyczna

SA

20,275

0.0

7,082

Polski

Koncern

Naftowy

ORLEN

SA

102,794

0.1

10,750

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

156,651

0.1

7,474

Powszechny

Zaklad

Ubezpieczen

SA

81,706

0.1

508

Santander

Bank

Polska

SA

60,030

0.1

854,675

0.8

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

11

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Qatar

:

0.8%

24,961

Barwa

Real

Estate

Co.

$

19,578

0.0

42,570

Commercial

Bank

PSQC

51,412

0.1

22,984

Dukhan

Bank

24,366

0.0

18,722

Industries

Qatar

QSC

67,064

0.1

71,647

Masraf

Al

Rayan

QSC

48,646

0.1

58,569

Mesaieed

Petrochemical

Holding

Co.

26,211

0.0

10,209

Ooredoo

QPSC

32,862

0.0

5,429

Qatar

Electricity

&

Water

Co.

QSC

23,549

0.0

7,794

Qatar

Fuel

QSC

32,645

0.0

32,413

Qatar

Gas

Transport

Co.

Ltd.

38,720

0.1

12,813

Qatar

International

Islamic

Bank

QSC

38,675

0.0

22,145

Qatar

Islamic

Bank

SAQ

130,008

0.1

56,316

Qatar

National

Bank

QPSC

262,507

0.3

796,243

0.8

Russia

:

—%

292,495

(4)

Alrosa

PJSC

—

—

1,334,323

(1)(4)

Gazprom

PJSC

—

—

4,339,761

(4)

Inter

RAO

UES

PJSC

—

—

46,982

(4)

Lukoil

PJSC

—

—

7,931

(4)

Magnit

PJSC

—

—

701,600

(4)

MMC

Norilsk

Nickel

PJSC

—

—

98,282

(4)

Mobile

TeleSystems

PJSC

—

—

170,929

(4)

Moscow

Exchange

MICEX-RTS

PJSC

—

—

101,990

(4)

Novatek

PJSC

—

—

166,658

(4)

Novolipetsk

Steel

PJSC

—

—

4,906

(1)(4)

Ozon

Holdings

PLC,

ADR

—

—

5,194

(4)

PhosAgro

PJSC

—

—

100

(4)

PhosAgro

PJSC

NPV

GDR

—

—

40,645

(1)(4)

Polymetal

International

PLC

—

—

3,794

(1)(4)

Polyus

PJSC

—

—

126,916

(4)

Rosneft

Oil

Co.

PJSC

—

—

1,201,542

(4)

Sberbank

of

Russia

PJSC

—

—

23,691

(4)

Severstal

PAO

—

—

770,779

(4)

Surgutneftegas

PJSC

—

—

160,492

(4)

Tatneft

PJSC

—

—

344,289

(1)(4)

United

Co.

RUSAL

International

PJSC

—

—

75,437

(1)(4)

VTB

Bank

PJSC

—

—

34,476

(1)(4)

Yandex

NV

-

Class

A

—

—

—

—

Saudi

Arabia

:

3.8%

1,781

ACWA

Power

Co.

235,061

0.2

4,414

Ades

Holding

Co.

23,688

0.0

1,555

(1)

Advanced

Petrochemical

Co.

16,084

0.0

24,017

Al

Rajhi

Bank

559,675

0.6

419

(1)

Al

Rajhi

Co

for

Co-

operative

Insurance

21,461

0.0

15,460

Alinma

Bank

117,648

0.1

3,155

Almarai

Co.

JSC

46,446

0.1

11,688

Arab

National

Bank

59,585

0.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Saudi

Arabia

(continued)

295

Arabian

Internet

&

Communications

Services

Co.

$

22,199

0.0

7,878

Bank

AlBilad

82,941

0.1

6,317

(1)

Bank

Al-Jazira

28,953

0.0

7,679

Banque

Saudi

Fransi

66,077

0.1

1,054

Bupa

Arabia

for

Cooperative

Insurance

Co.

58,215

0.1

902

Co.

for

Cooperative

Insurance

35,592

0.0

404

Dallah

Healthcare

Co.

17,342

0.0

6,645

(1)

Dar

Al

Arkan

Real

Estate

Development

Co.

27,652

0.0

1,091

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co.

86,259

0.1

301

Elm

Co.

93,445

0.1

4,917

Etihad

Etisalat

Co.

67,475

0.1

6,605

Jarir

Marketing

Co.

23,166

0.0

5,303

Mobile

Telecommunications

Co.

Saudi

Arabia

15,497

0.0

1,265

Mouwasat

Medical

Services

Co.

33,728

0.0

427

Nahdi

Medical

Co.

14,982

0.0

18,572

Riyad

Bank

123,582

0.1

3,032

SABIC

Agri-Nutrients

Co.

96,077

0.1

4,765

Sahara

International

Petrochemical

Co.

37,297

0.1

165

SAL

Saudi

Logistics

Services

12,898

0.0

15,922

(1)

Saudi

Arabian

Mining

Co.

207,410

0.2

51,751

(2)

Saudi

Arabian

Oil

Co.

374,235

0.4

685

Saudi

Aramco

Base

Oil

Co.

24,251

0.0

12,695

Saudi

Awwal

Bank

117,496

0.1

11,123

Saudi

Basic

Industries

Corp.

222,080

0.2

9,774

Saudi

Electricity

Co.

43,452

0.1

4,893

Saudi

Industrial

Investment

Group

25,570

0.0

7,580

Saudi

Investment

Bank

26,382

0.0

9,629

(1)

Saudi

Kayan

Petrochemical

Co.

21,578

0.0

36,195

Saudi

National

Bank

332,178

0.3

454

(1)

Saudi

Research

&

Media

Group

34,871

0.0

597

Saudi

Tadawul

Group

Holding

Co.

36,157

0.0

24,789

Saudi

Telecom

Co.

288,875

0.3

9,276

(1)

Savola

Group

66,816

0.1

4,011

Yanbu

National

Petrochemical

Co.

45,680

0.1

3,890,056

3.8

Singapore

:

0.0%

2,500

(2)

BOC

Aviation

Ltd.

20,678

0.0

South

Africa

:

2.8%

10,612

Absa

Group

Ltd.

107,757

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

12

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

South

Africa

(continued)

989

Anglo

American

Platinum

Ltd.

$

35,577

0.0

4,771

(3)

Aspen

Pharmacare

Holdings

Ltd.

53,847

0.1

4,111

(3)

Bid

Corp.

Ltd.

105,348

0.1

3,996

(3)

Bidvest

Group

Ltd.

67,748

0.1

1,066

Capitec

Bank

Holdings

Ltd.

187,842

0.2

2,913

Clicks

Group

Ltd.

66,929

0.1

6,806

Discovery

Ltd.

67,773

0.1

3,128

Exxaro

Resources

Ltd.

31,053

0.0

61,416

FirstRand

Ltd.

294,631

0.3

11,018

(3)

Gold

Fields

Ltd.

170,866

0.2

7,038

Harmony

Gold

Mining

Co.

Ltd.

72,235

0.1

11,327

(1)

Impala

Platinum

Holdings

Ltd.

63,485

0.1

758

Kumba

Iron

Ore

Ltd.

17,593

0.0

21,080

MTN

Group

Ltd.

112,040

0.1

2,186

Naspers

Ltd.

-

Class

N

530,133

0.5

5,803

Nedbank

Group

Ltd.

100,228

0.1

4,472

Northam

Platinum

Holdings

Ltd.

28,223

0.0

54,682

(3)

Old

Mutual

Ltd.

43,360

0.0

9,098

OUTsurance

Group

Ltd.

30,563

0.0

29,833

(2)

Pepkor

Holdings

Ltd.

41,561

0.0

6,447

Remgro

Ltd.

58,707

0.1

22,051

Sanlam

Ltd.

112,313

0.1

7,383

Sasol

Ltd.

49,586

0.0

6,114

(3)

Shoprite

Holdings

Ltd.

104,423

0.1

36,346

(1)(3)

Sibanye

Stillwater

Ltd.

37,556

0.0

16,367

Standard

Bank

Group

Ltd.

229,202

0.2

7,884

Vodacom

Group

Ltd.

49,953

0.1

11,254

(3)

Woolworths

Holdings

Ltd./

South

Africa

44,365

0.0

2,914,897

2.8

South

Korea

:

9.8%

492

(1)

Alteogen,

Inc.

122,520

0.1

368

Amorepacific

Corp.

41,201

0.1

1,880

Celltrion,

Inc.

279,919

0.3

104

CJ

CheilJedang

Corp.

24,119

0.0

307

(1)

CosmoAM&T

Co.

Ltd.

29,404

0.0

718

Coway

Co.

Ltd.

36,236

0.0

574

DB

Insurance

Co.

Ltd.

49,326

0.1

643

Doosan

Bobcat,

Inc.

19,883

0.0

5,703

(1)

Doosan

Enerbility

Co.

Ltd.

78,047

0.1

608

(1)

Ecopro

BM

Co.

Ltd.

85,254

0.1

1,240

(1)

Ecopro

Co.

Ltd.

83,571

0.1

206

(1)

Ecopro

Materials

Co.

Ltd.

21,272

0.0

160

(1)

Enchem

Co.

Ltd.

22,220

0.0

552

GS

Holdings

Corp.

17,882

0.0

3,605

Hana

Financial

Group,

Inc.

161,763

0.2

297

Hanjin

Kal

Corp.

18,576

0.0

943

Hankook

Tire

&

Technology

Co.

Ltd.

29,721

0.0

86

Hanmi

Pharm

Co.

Ltd.

21,142

0.0

554

Hanmi

Semiconductor

Co.

Ltd.

46,132

0.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

South

Korea

(continued)

423

Hanwha

Aerospace

Co.

Ltd.

$

96,385

0.1

468

(1)

Hanwha

Industrial

Solutions

Co.

Ltd./

New

11,917

0.0

1,008

(1)

Hanwha

Ocean

Co.

Ltd.

23,441

0.0

1,419

Hanwha

Solutions

Corp.

28,114

0.0

564

HD

Hyundai

Co.

Ltd.

32,915

0.0

284

HD

Hyundai

Electric

Co.

Ltd.

71,454

0.1

280

(1)

HD

Hyundai

Heavy

Industries

Co.

Ltd.

39,370

0.0

529

(1)

HD

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

75,561

0.1

1,454

(1)

HLB,

Inc.

94,545

0.1

3,061

HMM

Co.

Ltd.

43,345

0.1

265

HYBE

Co.

Ltd.

34,151

0.0

899

Hyundai

Engineering

&

Construction

Co.

Ltd.

20,925

0.0

467

Hyundai

Glovis

Co.

Ltd.

43,508

0.1

745

Hyundai

Mobis

Co.

Ltd.

123,384

0.1

1,690

Hyundai

Motor

Co.

314,750

0.3

1,090

Hyundai

Steel

Co.

23,192

0.0

3,158

Industrial

Bank

of

Korea

33,681

0.0

3,895

Kakao

Corp.

107,325

0.1

2,098

KakaoBank

Corp.

33,834

0.0

4,714

KB

Financial

Group,

Inc.

290,865

0.3

2,944

Kia

Corp.

224,173

0.2

983

Korea

Aerospace

Industries

Ltd.

39,177

0.0

3,192

(1)

Korea

Electric

Power

Corp.

49,887

0.1

487

Korea

Investment

Holdings

Co.

Ltd.

27,215

0.0

103

Korea

Zinc

Co.

Ltd.

53,953

0.1

1,789

Korean

Air

Lines

Co.

Ltd.

30,687

0.0

356

(1)

Krafton,

Inc.

92,611

0.1

334

KT

Corp.

10,222

0.0

1,298

KT&G

Corp.

107,609

0.1

450

(1)

Kum

Yang

Co.

Ltd.

18,022

0.0

225

Kumho

Petrochemical

Co.

Ltd.

27,031

0.0

320

(1)

L&F

Co.

Ltd.

27,710

0.0

663

LG

Chem

Ltd.

179,957

0.2

1,175

LG

Corp.

70,615

0.1

4,024

(1)

LG

Display

Co.

Ltd.

33,568

0.0

1,334

LG

Electronics,

Inc.

106,220

0.1

576

(1)

LG

Energy

Solution

Ltd.

181,718

0.2

118

LG

H&H

Co.

Ltd.

34,009

0.0

185

LG

Innotek

Co.

Ltd.

30,804

0.0

1,712

LG

Uplus

Corp.

12,811

0.0

227

Lotte

Chemical

Corp.

17,574

0.0

175

LS

Electric

Co.

Ltd.

21,863

0.0

1,168

Meritz

Financial

Group,

Inc.

86,379

0.1

2,826

Mirae

Asset

Securities

Co.

Ltd.

18,149

0.0

1,608

NAVER

Corp.

207,119

0.2

175

NCSoft

Corp.

25,457

0.0

294

(1)(2)

Netmarble

Corp.

13,286

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

13

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

South

Korea

(continued)

1,528

NH

Investment

&

Securities

Co.

Ltd.

$

15,641

0.0

299

Orion

Corp./Republic

of

Korea

22,191

0.0

387

POSCO

Future

M

Co.

Ltd.

73,753

0.1

884

POSCO

Holdings,

Inc.

259,516

0.3

677

Posco

International

Corp.

29,514

0.0

218

(1)(2)

Samsung

Biologics

Co.

Ltd.

162,150

0.2

1,094

Samsung

C&T

Corp.

114,586

0.1

723

Samsung

Electro-

Mechanics

Co.

Ltd.

73,091

0.1

58,647

Samsung

Electronics

Co.

Ltd.

2,741,091

2.7

2,017

(1)

Samsung

Engineering

Co.

Ltd.

33,845

0.0

381

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

100,698

0.1

8,317

(1)

Samsung

Heavy

Industries

Co.

Ltd.

63,802

0.1

991

Samsung

Life

Insurance

Co.

Ltd.

70,777

0.1

682

Samsung

SDI

Co.

Ltd.

196,918

0.2

539

Samsung

SDS

Co.

Ltd.

63,472

0.1

5,325

Shinhan

Financial

Group

Co.

Ltd.

225,847

0.2

394

(1)

SK

Biopharmaceuticals

Co.

Ltd.

31,213

0.0

6,732

SK

Hynix,

Inc.

900,989

0.9

777

(1)

SK

Innovation

Co.

Ltd.

69,600

0.1

1,188

(1)

SK

Square

Co.

Ltd.

73,339

0.1

588

SK

Telecom

Co.

Ltd.

25,040

0.0

463

SK,

Inc.

54,141

0.1

252

(1)

SKC

Co.

Ltd.

27,703

0.0

580

S-Oil

Corp.

27,214

0.0

7,439

Woori

Financial

Group,

Inc.

87,819

0.1

707

Yuhan

Corp.

77,114

0.1

10,099,740

9.8

Taiwan

:

17.2%

6,000

Accton

Technology

Corp.

100,390

0.1

37,462

Acer,

Inc.

48,218

0.0

6,324

Advantech

Co.

Ltd.

64,077

0.1

1,603

Airtac

International

Group

45,912

0.0

1,000

Alchip

Technologies

Ltd.

62,329

0.1

41,243

ASE

Technology

Holding

Co.

Ltd.

195,595

0.2

28,356

Asia

Cement

Corp.

42,684

0.0

4,000

Asia

Vital

Components

Co.

Ltd.

74,108

0.1

9,000

Asustek

Computer,

Inc.

156,351

0.2

87,400

AUO

Corp.

46,873

0.0

8,000

Catcher

Technology

Co.

Ltd.

59,711

0.1

116,545

Cathay

Financial

Holding

Co.

Ltd.

244,715

0.2

18,960

Chailease

Holding

Co.

Ltd.

97,520

0.1

69,152

Chang

Hwa

Commercial

Bank

Ltd.

39,088

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Taiwan

(continued)

22,650

Cheng

Shin

Rubber

Industry

Co.

Ltd.

$

36,976

0.0

35,000

China

Airlines

Ltd.

23,748

0.0

197,100

China

Development

Financial

Holding

Corp.

102,640

0.1

141,535

China

Steel

Corp.

103,225

0.1

46,000

Chunghwa

Telecom

Co.

Ltd.

182,078

0.2

54,000

Compal

Electronics,

Inc.

56,665

0.1

193,170

CTBC

Financial

Holding

Co.

Ltd.

210,279

0.2

23,703

Delta

Electronics,

Inc.

282,802

0.3

11,000

E

Ink

Holdings,

Inc.

101,968

0.1

176,514

E.Sun

Financial

Holding

Co.

Ltd.

156,130

0.2

2,386

Eclat

Textile

Co.

Ltd.

40,944

0.0

1,000

eMemory

Technology,

Inc.

82,304

0.1

34,000

Eva

Airways

Corp.

40,249

0.0

12,656

Evergreen

Marine

Corp.

Taiwan

Ltd.

80,433

0.1

34,685

Far

Eastern

New

Century

Corp.

41,849

0.0

22,000

Far

EasTone

Telecommunications

Co.

Ltd.

62,964

0.1

6,597

Feng

TAY

Enterprise

Co.

Ltd.

32,235

0.0

135,162

First

Financial

Holding

Co.

Ltd.

116,963

0.1

44,600

Formosa

Chemicals

&

Fibre

Corp.

61,096

0.1

47,600

Formosa

Plastics

Corp.

80,238

0.1

1,100

Fortune

Electric

Co.

Ltd.

21,806

0.0

99,477

Fubon

Financial

Holding

Co.

Ltd.

283,208

0.3

6,000

Gigabyte

Technology

Co.

Ltd.

48,932

0.0

1,000

Global

Unichip

Corp.

34,328

0.0

4,000

Globalwafers

Co.

Ltd.

57,340

0.1

153,170

Hon

Hai

Precision

Industry

Co.

Ltd.

901,844

0.9

4,080

Hotai

Motor

Co.

Ltd.

90,763

0.1

110,483

Hua

Nan

Financial

Holdings

Co.

Ltd.

89,642

0.1

99,343

Innolux

Corp.

50,555

0.1

34,000

Inventec

Corp.

46,200

0.0

1,000

Largan

Precision

Co.

Ltd.

80,162

0.1

25,538

Lite-On

Technology

Corp.

80,146

0.1

18,820

MediaTek,

Inc.

693,621

0.7

144,811

Mega

Financial

Holding

Co.

Ltd.

179,766

0.2

9,000

Micro-Star

International

Co.

Ltd.

49,201

0.0

61,890

Nan

Ya

Plastics

Corp.

89,717

0.1

16,000

(1)

Nanya

Technology

Corp.

23,912

0.0

2,000

Nien

Made

Enterprise

Co.

Ltd.

32,023

0.0

7,000

Novatek

Microelectronics

Corp.

113,969

0.1

25,000

Pegatron

Corp.

81,116

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

14

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Taiwan

(continued)

3,000

(1)

PharmaEssentia

Corp.

$

60,075

0.1

27,000

Pou

Chen

Corp.

30,715

0.0

7,000

President

Chain

Store

Corp.

65,107

0.1

33,000

Quanta

Computer,

Inc.

275,030

0.3

6,760

Realtek

Semiconductor

Corp.

100,336

0.1

20,020

Ruentex

Development

Co.

Ltd.

30,878

0.0

49,152

Shanghai

Commercial

&

Savings

Bank

Ltd.

59,820

0.1

178,377

(1)

Shin

Kong

Financial

Holding

Co.

Ltd.

67,414

0.1

134,194

SinoPac

Financial

Holdings

Co.

Ltd.

102,793

0.1

16,800

Synnex

Technology

International

Corp.

38,288

0.0

144,322

Taishin

Financial

Holding

Co.

Ltd.

83,767

0.1

88,669

Taiwan

Business

Bank

44,610

0.0

80,389

Taiwan

Cement

Corp.

85,652

0.1

128,166

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

104,723

0.1

10,000

Taiwan

High

Speed

Rail

Corp.

9,327

0.0

22,000

Taiwan

Mobile

Co.

Ltd.

79,930

0.1

303,000

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

9,136,708

8.8

17,000

Unimicron

Technology

Corp.

77,196

0.1

58,209

Uni-President

Enterprises

Corp.

159,267

0.2

141,000

United

Microelectronics

Corp.

237,651

0.2

11,000

Vanguard

International

Semiconductor

Corp.

35,948

0.0

1,000

Voltronic

Power

Technology

Corp.

63,919

0.1

37,374

Walsin

Lihwa

Corp.

41,257

0.0

7,645

Wan

Hai

Lines

Ltd.

23,603

0.0

41,156

(1)

Winbond

Electronics

Corp.

27,697

0.0

34,000

Wistron

Corp.

108,436

0.1

1,000

Wiwynn

Corp.

54,200

0.1

20,280

WPG

Holdings

Ltd.

47,985

0.0

4,802

Yageo

Corp.

94,527

0.1

22,000

Yang

Ming

Marine

Transport

Corp.

47,893

0.0

127,905

Yuanta

Financial

Holding

Co.

Ltd.

127,866

0.1

9,000

Zhen

Ding

Technology

Holding

Ltd.

32,107

0.0

17,776,333

17.2

Thailand

:

1.5%

300

Advanced

Info

Service

PCL

2,421

0.0

14,400

Advanced

Info

Service

PCL

-

Foreign

Shares

116,198

0.1

47,700

Airports

of

Thailand

PCL

94,565

0.1

5,200

Airports

of

Thailand

PCL

10,309

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Thailand

(continued)

138,700

Bangkok

Dusit

Medical

Services

PCL

-

Class

F

$

128,828

0.1

92,500

Bangkok

Expressway

&

Metro

PCL

23,441

0.0

7,200

Bumrungrad

Hospital

PCL

59,853

0.1

400

Central

Pattana

PCL

827

0.0

25,600

Central

Pattana

PCL

-

Foreign

Shares

52,967

0.1

21,600

Central

Retail

Corp.

PCL

20,673

0.0

47,500

Charoen

Pokphand

Foods

PCL

-

Foreign

Shares

35,215

0.0

72,400

CP

ALL

PCL

-

Foreign

146,741

0.2

27,000

CP

Axtra

PCL

27,271

0.0

38,800

(3)

Delta

Electronics

Thailand

PCL

128,163

0.1

37,000

Gulf

Energy

Development

PCL

65,124

0.1

70,851

Home

Product

Center

PCL

22,764

0.0

12,400

Intouch

Holdings

PCL

-

Class

F

35,535

0.1

7,400

Kasikornbank

PCL

34,453

0.0

2,000

Krung

Thai

Bank

PCL

1,275

0.0

41,500

Krung

Thai

Bank

PCL

-

Foreign

Shares

26,464

0.0

11,500

Krungthai

Card

PCL

17,327

0.0

42,000

Minor

International

PCL

36,760

0.1

17,700

PTT

Exploration

&

Production

PCL

72,195

0.1

300

PTT

Global

Chemical

PCL

277

0.0

29,300

PTT

Global

Chemical

PCL

-

Foreign

Shares

27,086

0.0

32,900

PTT

Oil

&

Retail

Business

PCL

17,901

0.0

123,500

PTT

PCL

-

Foreign

130,175

0.1

48,900

(4)

Robinson

PCL

—

—

9,700

SCB

X

PCL

32,774

0.0

9,400

Siam

Cement

PCL

-

Foreign

70,019

0.1

15,700

Thai

Oil

PCL

-

Foreign

25,052

0.0

329,300

TMBThanachart

Bank

PCL

20,077

0.0

133,607

(1)

True

Corp.

PCL

46,397

0.1

1,529,127

1.5

Turkey

:

0.6%

39,319

Akbank

TAS

70,825

0.1

1,993

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS

11,440

0.0

17,539

Aselsan

Elektronik

Sanayi

Ve

Ticaret

AS

30,287

0.0

5,674

BIM

Birlesik

Magazalar

AS

82,337

0.1

8,855

Coca-Cola

Icecek

AS

14,760

0.0

17,857

Eregli

Demir

ve

Celik

Fabrikalari

TAS

27,936

0.0

825

Ford

Otomotiv

Sanayi

AS

22,146

0.0

13,104

Haci

Omer

Sabanci

Holding

AS

37,303

0.0

9,654

KOC

Holding

AS

53,129

0.1

2,756

(1)

Pegasus

Hava

Tasimaciligi

AS

19,210

0.0

130,097

(1)

Sasa

Polyester

Sanayi

AS

16,358

0.0

6,831

(1)

Turk

Hava

Yollari

AO

56,822

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

15

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Turkey

(continued)

15,962

Turkcell

Iletisim

Hizmetleri

AS

$

44,442

0.0

110,637

Turkiye

Is

Bankasi

AS

-

Class

C

45,344

0.1

12,531

Turkiye

Petrol

Rafinerileri

AS

56,870

0.1

15,236

Turkiye

Sise

ve

Cam

Fabrikalari

AS

19,175

0.0

43,655

Yapi

ve

Kredi

Bankasi

AS

39,387

0.0

647,771

0.6

United

Arab

Emirates

:

1.2%

37,716

Abu

Dhabi

Commercial

Bank

PJSC

86,458

0.1

19,110

Abu

Dhabi

Islamic

Bank

PJSC

66,179

0.1

39,283

Abu

Dhabi

National

Oil

Co.

for

Distribution

PJSC

38,679

0.0

30,720

ADNOC

Drilling

Co.

PJSC

39,560

0.1

48,953

Aldar

Properties

PJSC

100,151

0.1

32,084

Americana

Restaurants

International

PLC

23,156

0.0

38,701

Dubai

Islamic

Bank

PJSC

66,395

0.1

82,326

Emaar

Properties

PJSC

195,326

0.2

23,614

Emirates

NBD

Bank

PJSC

130,508

0.1

43,820

Emirates

Telecommunications

Group

Co.

PJSC

220,708

0.2

54,691

First

Abu

Dhabi

Bank

PJSC

204,481

0.2

46,887

(1)

Multiply

Group

PJSC

30,130

0.0

1,201,731

1.2

United

Kingdom

:

0.1%

5,155

Anglogold

Ashanti

PLC

137,095

0.1

United

States

:

0.3%

8,800

(1)

BeiGene

Ltd.

154,662

0.2

960

(1)

Legend

Biotech

Corp.,

ADR

46,781

0.0

1,057

Southern

Copper

Corp.

122,263

0.1

323,706

0.3

Total

Common

Stock

(Cost

$108,705,192)

99,000,555

95.7

PREFERRED

STOCK

:

1.8%

Brazil

:

1.2%

68,545

Banco

Bradesco

SA

-

Preference

Shares

185,716

0.2

2,751

Centrais

Eletricas

Brasileiras

SA

22,048

0.0

23,437

Cia

Energetica

de

Minas

Gerais

49,260

0.0

11,200

Cia

Paranaense

de

Energia

21,053

0.0

17,906

Gerdau

SA

62,911

0.1

59,442

Itau

Unibanco

Holding

SA

395,974

0.4

67,890

Itausa

SA

138,454

0.1

54,701

Petroleo

Brasileiro

SA

362,284

0.4

1,237,700

1.2

Shares

RA

Value

Percentage

of

Net

Assets

PREFERRED

STOCK:

(continued)

Chile

:

0.1%

1,868

Sociedad

Quimica

y

Minera

de

Chile

SA

$

77,489

0.1

Colombia

:

0.0%

6,070

Bancolombia

SA

47,884

0.0

Russia

:

—%

773,978

(4)

Surgutneftegas

PJSC

—

—

South

Korea

:

0.5%

198

Hyundai

Motor

Co.

25,755

0.0

486

Hyundai

Motor

Co.

-

Second

Preference

Shares

65,335

0.1

9,976

Samsung

Electronics

Co.

Ltd.

387,437

0.4

478,527

0.5

Total

Preferred

Stock

(Cost

$2,145,541)

1,841,600

1.8

Total

Long-Term

Investments

(Cost

$110,850,733)

100,842,155

97.5

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

3.9%

Repurchase

Agreements

:

1.0%

1,000,000

(5)

Bethesda

Securities,

Repurchase

Agreement

dated

09/30/2024,

5.000%,

due

10/01/2024

(Repurchase

Amount

$1,000,137,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

2.500%-

7.026%,

Market

Value

plus

accrued

interest

$1,020,000,

due

10/01/27-01/01/57)

1,000,000

0.9

91,141

(5)

National

Bank

Financial,

Inc.,

Repurchase

Agreement

dated

09/30/2024,

4.900%,

due

10/01/2024

(Repurchase

Amount

$91,153,

collateralized

by

various

U.S.

Government

Securities,

0.375%-

5.000%,

Market

Value

plus

accrued

interest

$92,964,

due

10/01/24-09/09/49)

91,141

0.1

Total

Repurchase

Agreements

(Cost

$1,091,141)

1,091,141

1.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

16

Voya

Emerging

Markets

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

2.9%

2,975,000

(6)

BlackRock

Liquidity

Funds,

FedFund,

Institutional

Class,

4.830%

(Cost

$2,975,000)

$

2,975,000

2.9

Total

Short-Term

Investments

(Cost

$4,066,141)

$

4,066,141

3.9

Total

Investments

in

Securities

(Cost

$114,916,874)

$

104,908,296

101.4

Liabilities

in

Excess

of

Other

Assets

(1,468,817)

(1.4)

Net

Assets

$

103,439,479

100.0

ADR

American

Depositary

Receipt

†

Unless

otherwise

indicated,

principal

amount

is

shown

in

USD.

(1)

Non-income

producing

security.

(2)

Securities

with

purchases

pursuant

to

Rule

144A

or

section

4(a)(2),

under

the

Securities

Act

of

1933

and

may

not

be

resold

subject

to

that

rule

except

to

qualiﬁed

institutional

buyers.

(3)

Security,

or

a

portion

of

the

security,

is

on

loan.

(4)

For

fair

value

measurement

disclosure

purposes,

security

is

categorized

as

Level

3,

whose

value

was

determined

using

significant

unobservable

inputs.

(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

September

30,

2024.

Sector

Diversiﬁcation

Percentage

of

Net

Assets

Financials

22.4

%

Information

Technology

21.8

Consumer

Discretionary

13.3

Communication

Services

9.1

Materials

6.5

Industrials

6.5

Consumer

Staples

5.2

Energy

4.7

Health

Care

3.5

Utilities

2.9

Real

Estate

1.5

Foreign

Stock

0.1

Consumer,

Cyclical

0.0

Short-Term

Investments

3.9

Liabilities

in

Excess

of

Other

Assets

(1.4)

Net

Assets

100.0%

Portfolio

holdings

are

subject

to

change

daily.

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

17

Voya

Emerging

Markets

Index

Portfolio

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

September

30,

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

September

30,

2024

Asset

Table

Investments,

at

fair

value

Common

Stock

Brazil

$

3,686,055

$

—

$

—

$

3,686,055

Chile

348,312

—

—

348,312

China

1,243,336

23,724,162

53,369

25,020,867

Colombia

47,554

—

—

47,554

Czechia

99,107

34,830

—

133,937

Egypt

62,776

—

—

62,776

Greece

35,780

433,584

—

469,364

Hong

Kong

58,050

1,110,524

—

1,168,574

Hungary

54,932

180,142

—

235,074

India

101,970

19,710,477

—

19,812,447

Indonesia

663,197

1,006,096

—

1,669,293

Ireland

1,150,469

—

—

1,150,469

Kuwait

22,765

676,581

—

699,346

Luxembourg

46,866

—

—

46,866

Malaysia

107,577

1,429,779

—

1,537,356

Mexico

1,903,555

—

—

1,903,555

Netherlands

58,972

—

—

58,972

Peru

182,005

—

—

182,005

Philippines

27,213

548,468

—

575,681

Poland

55,762

798,913

—

854,675

Qatar

128,548

667,695

—

796,243

Russia

—

—

—

—

Saudi

Arabia

366,554

3,523,502

—

3,890,056

Singapore

20,678

—

—

20,678

South

Africa

1,018,840

1,896,057

—

2,914,897

South

Korea

11,917

10,087,823

—

10,099,740

Taiwan

—

17,776,333

—

17,776,333

Thailand

27,271

1,501,856

—

1,529,127

Turkey

381,664

266,107

—

647,771

United

Arab

Emirates

456,955

744,776

—

1,201,731

United

Kingdom

—

137,095

—

137,095

United

States

169,044

154,662

—

323,706

Total

Common

Stock

12,537,724

86,409,462

53,369

99,000,555

Preferred

Stock

1,363,073

478,527

—

1,841,600

Short-Term

Investments

2,975,000

1,091,141

—

4,066,141

Total

Investments,

at

fair

value

$

16,875,797

$

87,979,130

$

53,369

$

104,908,296

Other

Financial

Instruments+

Futures

149,460

—

—

149,460

Total

Assets

$

17,025,257

$

87,979,130

$

53,369

$

105,057,756

#

The

earlier

close

of

the

foreign

markets

gives

rise

to

the

possibility

that

signiﬁcant

events,

including

broad

market

moves,

may

have

occurred

in

the

interim

and

may

materially

affect

the

value

of

those

securities.

To

account

for

this,

the

Portfolio

may

frequently

value

many

of

its

foreign

equity

securities

using

fair

value

prices

based

on

third

party

vendor

modeling

tools

to

the

extent

available.

Accordingly,

a

portion

of

the

Portfolio’s

investments

are

categorized

as

Level

2

investments.

+

Other

Financial

Instruments

may

include

open

forward

foreign

currency

contracts,

futures,

centrally

cleared

swaps,

OTC

swaps

and

written

options.

Forward

foreign

currency

contracts,

futures

and

centrally

cleared

swaps

are

fair

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

OTC

swaps

and

written

options

are

valued

at

the

fair

value

of

the

instrument.

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(unaudited)

(continued)

18

Voya

Emerging

Markets

Index

Portfolio

At

September

30,

2024,

the

following

futures

contracts

were

outstanding

for

Voya

Emerging

Markets

Index

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation

Long

Contracts:

MSCI

Emerging

Markets

Index

50

12/20/24

$

2,931,750

$

149,460

$

2,931,750

$

149,460

Net

unrealized

depreciation

consisted

of:

Gross

Unrealized

Appreciation

$

21,075,729

Gross

Unrealized

Depreciation

(31,084,308)

Net

Unrealized

Depreciation

$

(10,008,579)

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