Ing Variable Portfolios NPORT-P Voya VACS Index Series I Portfolio (Sep 2024 report)

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

1

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

98.2%

Australia

:

7.4%

23,395 

Ampol

Ltd.

$

493,493

0.0

297,056 

ANZ

Group

Holdings

Ltd.

6,242,887

0.4

126,689 

APA

Group

678,003

0.0

56,132 

Aristocrat

Leisure

Ltd.

2,266,295

0.1

19,140 

ASX

Ltd.

844,169

0.1

500,647 

BHP

Group

Ltd.

-

Class

DI

15,543,118

0.9

43,509 

BlueScope

Steel

Ltd.

664,159

0.0

137,480 

Brambles

Ltd.

1,804,527

0.1

35,371 

CAR

Group

Ltd.

914,917

0.1

6,465 

Cochlear

Ltd.

1,258,087

0.1

132,224 

Coles

Group

Ltd.

1,648,366

0.1

165,211 

Commonwealth

Bank

of

Australia

15,410,144

0.9

52,548 

Computershare

Ltd.

916,059

0.1

47,705 

CSL

Ltd.

9,423,308

0.5

105,594 

Dexus

550,953

0.0

150,280 

Endeavour

Group

Ltd./

Australia

519,687

0.0

167,171 

Fortescue

Metals

Group

Ltd.

2,357,869

0.1

168,734 

Goodman

Group

4,304,225

0.3

189,100 

GPT

Group

648,388

0.0

234,434 

Insurance

Australia

Group

Ltd.

1,191,402

0.1

219,722 

(1)

Lottery

Corp.

Ltd.

774,569

0.1

35,827 

Macquarie

Group

Ltd.

5,732,720

0.3

271,867 

Medibank

Pvt

Ltd.

685,906

0.0

17,460 

Mineral

Resources

Ltd.

622,509

0.0

388,188 

Mirvac

Group

574,191

0.0

305,340 

National

Australia

Bank

Ltd.

7,905,322

0.5

113,444 

Northern

Star

Resources

Ltd.

1,242,690

0.1

48,076 

Orica

Ltd.

614,118

0.0

170,065 

Origin

Energy

Ltd.

1,178,052

0.1

282,287 

(1)(2)

Pilbara

Minerals

Ltd.

634,940

0.0

5,670 

Pro

Medicus

Ltd.

697,887

0.0

78,853 

(2)

Qantas

Airways

Ltd.

402,503

0.0

148,313 

QBE

Insurance

Group

Ltd.

1,693,512

0.1

18,145 

Ramsay

Health

Care

Ltd.

520,828

0.0

5,217 

(1)

REA

Group

Ltd.

721,933

0.0

22,197 

Reece

Ltd.

435,305

0.0

36,645 

Rio

Tinto

Ltd.

3,241,073

0.2

320,611 

Santos

Ltd.

1,553,489

0.1

512,842 

Scentre

Group

1,289,228

0.1

35,224 

(1)

SEEK

Ltd.

602,969

0.0

20,089 

Seven

Group

Holdings

Ltd.

593,276

0.0

45,053 

Sonic

Healthcare

Ltd.

847,386

0.1

447,115 

South32

Ltd.

-

Class

DI

1,146,808

0.1

235,655 

Stockland

849,970

0.1

125,599 

Suncorp

Group

Ltd.

1,568,383

0.1

399,217 

Telstra

Group

Ltd.

1,068,513

0.1

305,251 

Transurban

Group

2,757,960

0.2

80,102 

Treasury

Wine

Estates

Ltd.

661,276

0.0

381,979 

Vicinity

Ltd.

581,994

0.0

23,162 

Washington

H

Soul

Pattinson

&

Co.

Ltd.

554,791

0.0

112,022 

Wesfarmers

Ltd.

5,439,871

0.3

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Australia

(continued)

341,816 

Westpac

Banking

Corp.

$

7,469,515

0.4

16,458 

WiseTech

Global

Ltd.

1,558,509

0.1

187,439 

Woodside

Energy

Group

Ltd.

(WDS)

3,230,922

0.2

120,592 

Woolworths

Group

Ltd.

2,771,106

0.2

129,904,080

7.4

Austria

:

0.2%

33,241 

Erste

Group

Bank

AG

1,821,560

0.1

43,575 

Mondi

PLC

QX

831,217

0.1

14,538 

OMV

AG

621,939

0.0

6,722 

(1)

Verbund

AG

556,166

0.0

10,576 

voestalpine

AG

274,810

0.0

4,105,692

0.2

Belgium

:

0.8%

15,773 

Ageas

SA

841,635

0.1

88,707 

Anheuser-Busch

InBev

SA

5,878,378

0.3

2,109 

(1)

D'ieteren

Group

446,587

0.0

2,887 

(1)

Elia

Group

SA

329,956

0.0

8,197 

Groupe

Bruxelles

Lambert

NV

638,747

0.1

22,657 

KBC

Group

NV

1,802,549

0.1

40 

(1)

Lotus

Bakeries

NV

536,766

0.0

1,513 

(1)

Sofina

SA

427,585

0.0

7,316 

(1)

Syensqo

SA

648,329

0.1

12,481 

UCB

SA

2,253,037

0.1

17,674 

Warehouses

De

Pauw

CVA

471,628

0.0

14,275,197

0.8

Chile

:

0.1%

38,928 

Antofagasta

PLC

1,049,300

0.1

Denmark

:

3.3%

298 

AP

Moller

-

Maersk

A/S

-

Class

A

482,970

0.0

450 

AP

Moller

-

Maersk

A/S

-

Class

B

757,253

0.0

9,430 

Carlsberg

AS

-

Class

B

1,122,893

0.1

12,450 

Coloplast

A/S

-

Class

B

1,622,802

0.1

68,090 

Danske

Bank

A/S

2,048,060

0.1

9,767 

(2)

Demant

A/S

380,241

0.0

16,900 

(1)

DSV

A/S

3,478,190

0.2

6,202 

(2)

Genmab

A/S

1,503,575

0.1

317,930 

Novo

Nordisk

A/S

-

Class

B

37,710,161

2.2

34,785 

Novozymes

A/S

-

Class

B

2,504,361

0.1

18,674 

(1)(2)(3)

Orsted

AS

1,236,824

0.1

8,095 

Pandora

A/S

1,334,202

0.1

923 

Rockwool

A/S

-

Class

B

433,308

0.0

33,467 

Tryg

A/S

793,663

0.1

99,691 

(2)

Vestas

Wind

Systems

A/S

2,193,571

0.1

6,308 

(2)

Zealand

Pharma

A/S

767,504

0.0

58,369,578

3.3

Finland

:

1.0%

14,041 

Elisa

Oyj

744,378

0.1

44,288 

(1)

Fortum

Oyj

728,774

0.0

26,963 

(1)

Kesko

Oyj

-

Class

B

575,245

0.0

33,553 

Kone

Oyj

-

Class

B

2,007,196

0.1

61,375 

(1)

Metso

Oyj

656,249

0.0

41,764 

(1)

Neste

Oyj

811,395

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

2

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Finland

(continued)

526,441 

Nokia

Oyj

$

2,298,536

0.1

12,451 

Nordea

Bank

Abp

-

EUR

146,987

0.0

299,004 

Nordea

Bank

Abp

-

SEK

3,528,170

0.2

10,652 

Orion

Oyj

-

Class

B

583,666

0.0

49,587 

Sampo

Oyj

-

Class

A

2,312,761

0.1

57,463 

(1)

Stora

Enso

Oyj

-

Class

R

735,188

0.1

52,689 

(1)

UPM-Kymmene

Oyj

1,763,738

0.1

49,651 

Wartsila

Oyj

Abp

1,111,027

0.1

18,003,310

1.0

France

:

11.0%

19,240 

Accor

SA

836,363

0.1

3,400 

Aeroports

de

Paris

436,654

0.0

57,071 

Air

Liquide

SA

11,021,013

0.6

58,659 

Airbus

SE

8,585,131

0.5

34,169 

(2)

Alstom

SA

709,925

0.0

6,027 

(3)

Amundi

SA

450,500

0.0

5,556 

Arkema

SA

529,203

0.0

179,389 

AXA

SA

6,905,927

0.4

4,067 

BioMerieux

487,428

0.0

100,467 

BNP

Paribas

SA

6,894,229

0.4

70,390 

(1)

Bollore

SE

469,861

0.0

18,719 

Bouygues

SA

626,548

0.0

31,363 

Bureau

Veritas

SA

1,040,519

0.1

15,335 

Capgemini

SE

3,310,842

0.2

53,542 

(1)

Carrefour

SA

912,970

0.1

44,749 

Cie

de

Saint-Gobain

4,081,229

0.2

67,050 

Cie

Generale

des

Etablissements

Michelin

SCA

2,723,126

0.2

5,510 

Covivio

SA/France

335,318

0.0

104,548 

Credit

Agricole

SA

1,598,844

0.1

63,729 

Danone

SA

4,641,996

0.3

1,948 

Dassault

Aviation

SA

402,240

0.0

66,063 

Dassault

Systemes

SE

2,624,079

0.2

24,639 

Edenred

933,219

0.1

7,256 

Eiffage

SA

700,682

0.0

180,303 

Engie

SA

3,117,842

0.2

29,344 

EssilorLuxottica

SA

6,952,322

0.4

4,482 

Eurazeo

SE

368,702

0.0

4,516 

Gecina

SA

519,971

0.0

29,862 

Getlink

SE

532,639

0.0

3,126 

Hermes

International

7,697,340

0.4

3,703 

Ipsen

SA

456,138

0.0

7,349 

Kering

SA

2,115,431

0.1

21,239 

Klepierre

SA

695,918

0.0

10,313 

(3)

La

Francaise

des

Jeux

SAEM

424,376

0.0

25,921 

Legrand

SA

2,986,256

0.2

23,754 

L'Oreal

SA

10,654,563

0.6

27,155 

LVMH

Moet

Hennessy

Louis

Vuitton

SE

20,824,556

1.2

183,815 

Orange

SA

2,105,220

0.1

20,077 

(1)

Pernod

Ricard

SA

3,037,503

0.2

22,594 

Publicis

Groupe

SA

2,472,610

0.2

18,975 

Renault

SA

824,899

0.1

22,340 

Rexel

SA

647,564

0.0

33,742 

Safran

SA

7,940,282

0.5

112,510 

Sanofi

12,954,347

0.7

2,882 

Sartorius

Stedim

Biotech

603,431

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

France

(continued)

53,977 

Schneider

Electric

SE

$

14,228,789

0.8

2,445 

SEB

SA

279,086

0.0

71,341 

Societe

Generale

SA

1,777,769

0.1

8,734 

Sodexo

SA

716,045

0.1

66,839 

STMicroelectronics

NV

1,996,107

0.1

5,370 

Teleperformance

555,530

0.0

9,338 

Thales

SA

1,484,103

0.1

213,023 

TotalEnergies

SE

13,832,747

0.8

11,694 

(1)

Unibail-Rodamco-Westfield

1,024,195

0.1

68,099 

Veolia

Environnement

SA

2,242,047

0.1

49,382 

Vinci

SA

5,772,598

0.3

71,169 

Vivendi

SE

823,299

0.1

193,922,071

11.0

Germany

:

8.5%

15,992 

adidas

AG

4,237,674

0.2

38,669 

Allianz

SE

12,718,997

0.7

88,107 

BASF

SE

4,669,934

0.3

96,982 

Bayer

AG

3,281,075

0.2

31,480 

Bayerische

Motoren

Werke

AG

2,783,988

0.2

8,041 

Bechtle

AG

359,691

0.0

9,896 

Beiersdorf

AG

1,489,547

0.1

12,828 

Brenntag

SE

957,516

0.1

3,951 

Carl

Zeiss

Meditec

AG

-

Class

BR

313,450

0.0

99,405 

Commerzbank

AG

1,833,474

0.1

10,859 

Continental

AG

703,707

0.0

18,658 

(2)(3)

Covestro

AG

1,162,779

0.1

6,160 

CTS

Eventim

AG

&

Co.

KGaA

641,415

0.0

48,744 

Daimler

Truck

Holding

AG

1,830,211

0.1

18,840 

(2)(3)

Delivery

Hero

SE

762,447

0.1

187,066 

Deutsche

Bank

AG

3,238,433

0.2

18,756 

Deutsche

Boerse

AG

4,403,330

0.3

58,739 

(1)

Deutsche

Lufthansa

AG

430,228

0.0

100,691 

Deutsche

Post

AG,

Reg

4,491,500

0.3

344,574 

Deutsche

Telekom

AG,

Reg

10,119,898

0.6

221,632 

E.ON

SE

3,300,536

0.2

25,301 

Evonik

Industries

AG

592,282

0.0

20,275 

Fresenius

Medical

Care

AG

&

Co.

KGaA

861,521

0.1

41,701 

(2)

Fresenius

SE

&

Co.

KGaA

1,590,926

0.1

15,311 

GEA

Group

AG

750,953

0.0

5,952 

Hannover

Rueck

SE

1,699,058

0.1

13,480 

Heidelberg

Materials

AG

1,468,512

0.1

10,259 

Henkel

AG

&

Co.

KGaA

872,143

0.1

128,917 

Infineon

Technologies

AG

4,526,016

0.3

7,161 

Knorr-Bremse

AG

638,081

0.0

7,351 

LEG

Immobilien

SE

769,604

0.1

73,928 

Mercedes-Benz

Group

AG

4,790,482

0.3

12,758 

Merck

KGaA

2,252,185

0.1

5,313 

MTU

Aero

Engines

AG

1,660,465

0.1

13,204 

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

7,276,003

0.4

5,701 

Nemetschek

SE

592,562

0.0

10,365 

Puma

SE

433,424

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

3

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Germany

(continued)

505 

Rational

AG

$

515,580

0.0

4,300 

Rheinmetall

AG

2,337,596

0.1

62,415 

RWE

AG

2,273,958

0.1

103,083 

SAP

SE

23,578,485

1.3

7,404 

(3)

Scout24

SE

637,470

0.0

75,025 

Siemens

AG,

Reg

15,178,180

0.9

63,124 

(2)

Siemens

Energy

AG

2,330,535

0.1

27,838 

(3)

Siemens

Healthineers

AG

1,671,973

0.1

13,108 

Symrise

AG

1,814,013

0.1

6,373 

Talanx

AG

537,212

0.0

73,107 

Vonovia

SE

2,668,891

0.2

22,143 

(2)(3)

Zalando

SE

731,870

0.0

148,779,810

8.5

Hong

Kong

:

2.1%

1,100,000 

AIA

Group

Ltd.

9,606,143

0.6

365,500 

BOC

Hong

Kong

Holdings

Ltd.

1,157,998

0.1

190,500 

CK

Asset

Holdings

Ltd.

829,358

0.1

264,500 

CK

Hutchison

Holdings

Ltd.

1,499,640

0.1

59,000 

CK

Infrastructure

Holdings

Ltd.

401,373

0.0

3,000 

CK

Infrastructure

Holdings

Ltd.

20,409

0.0

162,000 

CLP

Holdings

Ltd.

1,416,270

0.1

5,499 

(2)

Futu

Holdings

Ltd.,

ADR

525,979

0.0

216,000 

Galaxy

Entertainment

Group

Ltd.

1,066,649

0.1

75,100 

Hang

Seng

Bank

Ltd.

934,407

0.1

143,000 

Henderson

Land

Development

Co.

Ltd.

452,845

0.0

372,000 

HKT

Trust

&

HKT

Ltd.

-

Stapled

Security

475,469

0.0

1,105,000 

Hong

Kong

&

China

Gas

Co.

Ltd.

902,545

0.1

118,900 

Hong

Kong

Exchanges

&

Clearing

Ltd.

4,857,108

0.3

108,300 

Hongkong

Land

Holdings

Ltd.

397,936

0.0

15,800 

Jardine

Matheson

Holdings

Ltd.

616,200

0.0

252,100 

Link

REIT

1,256,784

0.1

153,500 

MTR

Corp.

Ltd.

573,812

0.0

136,500 

Power

Assets

Holdings

Ltd.

870,114

0.1

270,790 

Prudential

PLC

2,512,189

0.1

382,000 

Sino

Land

Co.

Ltd.

417,178

0.0

132,000 

SITC

International

Holdings

Co.

Ltd.

354,070

0.0

143,000 

Sun

Hung

Kai

Properties

Ltd.

1,549,384

0.1

41,500 

Swire

Pacific

Ltd.

-

Class

A

353,884

0.0

135,500 

Techtronic

Industries

Co.

Ltd.

2,022,801

0.1

823,500 

(3)

WH

Group

Ltd.

648,588

0.0

105,000 

(1)

Wharf

Holdings

Ltd.

298,146

0.0

164,000 

Wharf

Real

Estate

Investment

Co.

Ltd.

572,743

0.0

36,590,022

2.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Ireland

:

0.8%

19,150 

AerCap

Holdings

NV

$

1,813,888

0.1

179,210 

AIB

Group

PLC

1,026,573

0.0

100,416 

Bank

of

Ireland

Group

PLC

1,121,400

0.1

9,761 

DCC

PLC

666,378

0.0

90,715 

Experian

PLC

4,777,934

0.3

42,774 

(2)

James

Hardie

Industries

PLC

1,699,732

0.1

15,341 

Kerry

Group

PLC

-

Class

A

1,589,765

0.1

15,292 

Kingspan

Group

PLC

1,434,227

0.1

14,129,897

0.8

Israel

:

0.8%

4,167 

Azrieli

Group

Ltd.

290,589

0.0

125,455 

Bank

Hapoalim

BM

1,257,449

0.1

149,506 

Bank

Leumi

Le-Israel

BM

1,464,103

0.1

8,766 

(2)

Check

Point

Software

Technologies

Ltd.

1,690,172

0.1

4,259 

(2)

CyberArk

Software

Ltd.

1,241,967

0.1

2,620 

Elbit

Systems

Ltd.

521,373

0.0

9,891 

(2)

Global-e

Online

Ltd.

380,210

0.0

75,966 

ICL

Group

Ltd.

323,340

0.0

122,120 

Israel

Discount

Bank

Ltd.

-

Class

A

684,180

0.0

15,300 

Mizrahi

Tefahot

Bank

Ltd.

597,965

0.0

3,685 

(2)

Monday.com

Ltd.

1,023,582

0.1

6,265 

(2)

Nice

Ltd.

1,089,237

0.1

110,600 

(2)

Teva

Pharmaceutical

Industries

Ltd.,

ADR

1,993,012

0.1

5,219 

(2)

Wix.com

Ltd.

872,460

0.1

13,429,639

0.8

Italy

:

2.5%

12,224 

(1)

Amplifon

SpA

351,815

0.0

100,686 

Assicurazioni

Generali

SpA

2,914,129

0.2

127,138 

Banco

BPM

SpA

859,003

0.0

60,774 

(1)

Davide

Campari-Milano

NV

515,156

0.0

2,197 

(1)

DiaSorin

SpA

256,888

0.0

802,900 

Enel

SpA

6,413,419

0.4

226,965 

Eni

SpA

3,453,856

0.2

12,443 

Ferrari

NV

5,830,816

0.3

60,316 

FinecoBank

Banca

Fineco

SpA

1,035,143

0.1

32,994 

(1)(3)

Infrastrutture

Wireless

Italiane

SpA

405,808

0.0

1,443,860 

Intesa

Sanpaolo

SpA

6,180,741

0.4

39,951 

Leonardo

SpA

894,157

0.1

50,066 

(1)

Mediobanca

Banca

di

Credito

Finanziario

SpA

855,449

0.0

21,702 

(1)

Moncler

SpA

1,379,744

0.1

57,978 

(1)(2)(3)

Nexi

SpA

393,916

0.0

45,127 

(3)

Poste

Italiane

SpA

633,726

0.0

26,683 

Prysmian

SpA

1,941,419

0.1

10,322 

Recordati

Industria

Chimica

e

Farmaceutica

SpA

584,084

0.0

199,064 

(1)

Snam

SpA

1,013,983

0.1

978,231 

(1)(2)

Telecom

Italia

SpA/Milano

271,978

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

4

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Italy

(continued)

138,894 

(1)

Terna

-

Rete

Elettrica

Nazionale

$

1,250,998

0.1

145,438 

UniCredit

SpA

6,384,976

0.4

43,821,204

2.5

Japan

:

22.1%

75,600 

Advantest

Corp.

3,555,564

0.2

64,600 

Aeon

Co.

Ltd.

1,754,556

0.1

19,300 

AGC,

Inc.

626,289

0.0

52,200 

Aisin

Corp.

580,026

0.0

46,100 

Ajinomoto

Co.,

Inc.

1,784,158

0.1

15,700 

(1)

ANA

Holdings,

Inc.

336,187

0.0

142,500 

Asahi

Group

Holdings

Ltd.

1,867,743

0.1

123,800 

Asahi

Kasei

Corp.

938,576

0.1

67,500 

Asics

Corp.

1,418,049

0.1

178,600 

Astellas

Pharma,

Inc.

2,064,146

0.1

58,800 

Bandai

Namco

Holdings,

Inc.

1,341,709

0.1

56,400 

Bridgestone

Corp.

2,178,049

0.1

22,800 

Brother

Industries

Ltd.

447,163

0.0

92,200 

Canon,

Inc.

3,036,634

0.2

34,200 

Capcom

Co.

Ltd.

797,685

0.1

76,300 

Central

Japan

Railway

Co.

1,761,772

0.1

52,000 

Chiba

Bank

Ltd.

422,673

0.0

63,600 

Chubu

Electric

Power

Co.,

Inc.

747,437

0.0

66,300 

Chugai

Pharmaceutical

Co.

Ltd.

3,213,634

0.2

103,700 

Concordia

Financial

Group

Ltd.

578,850

0.0

38,400 

Dai

Nippon

Printing

Co.

Ltd.

685,642

0.0

31,900 

Daifuku

Co.

Ltd.

617,514

0.0

89,300 

Dai-ichi

Life

Holdings,

Inc.

2,317,099

0.1

182,600 

Daiichi

Sankyo

Co.

Ltd.

6,031,709

0.4

26,000 

Daikin

Industries

Ltd.

3,649,387

0.2

5,800 

Daito

Trust

Construction

Co.

Ltd.

706,475

0.0

55,300 

Daiwa

House

Industry

Co.

Ltd.

1,740,622

0.1

131,700 

(1)

Daiwa

Securities

Group,

Inc.

934,104

0.1

186,700 

Denso

Corp.

2,806,362

0.2

20,000 

Dentsu

Group,

Inc.

616,438

0.0

9,100 

Disco

Corp.

2,397,192

0.1

89,600 

East

Japan

Railway

Co.

1,778,200

0.1

24,900 

Eisai

Co.

Ltd.

928,146

0.1

284,400 

ENEOS

Holdings,

Inc.

1,557,137

0.1

93,600 

FANUC

Corp.

2,749,071

0.2

18,800 

Fast

Retailing

Co.

Ltd.

6,237,787

0.4

13,300 

Fuji

Electric

Co.

Ltd.

805,890

0.1

110,500 

FUJIFILM

Holdings

Corp.

2,860,506

0.2

163,600 

Fujitsu

Ltd.

3,363,522

0.2

27,600 

Hamamatsu

Photonics

KK

360,131

0.0

22,500 

Hankyu

Hanshin

Holdings,

Inc.

695,061

0.0

1,800 

Hikari

Tsushin,

Inc.

400,895

0.0

10,600 

(1)

Hitachi

Construction

Machinery

Co.

Ltd.

259,807

0.0

457,700 

Hitachi

Ltd.

12,136,986

0.7

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan

(continued)

443,000 

Honda

Motor

Co.

Ltd.

$

4,729,620

0.3

10,700 

Hoshizaki

Corp.

372,636

0.0

34,600 

Hoya

Corp.

4,792,223

0.3

37,700 

Hulic

Co.

Ltd.

383,767

0.0

11,800 

Ibiden

Co.

Ltd.

364,702

0.0

96,200 

Idemitsu

Kosan

Co.

Ltd.

697,579

0.0

93,200 

Inpex

Corp.

1,261,814

0.1

59,300 

Isuzu

Motors

Ltd.

808,566

0.1

117,300 

ITOCHU

Corp.

6,321,895

0.4

14,200 

(1)

Japan

Airlines

Co.

Ltd.

248,352

0.0

98,000 

Japan

Exchange

Group,

Inc.

1,273,639

0.1

142,800 

Japan

Post

Bank

Co.

Ltd.

1,340,501

0.1

189,900 

Japan

Post

Holdings

Co.

Ltd.

1,820,980

0.1

18,800 

Japan

Post

Insurance

Co.

Ltd.

345,283

0.0

126 

Japan

Real

Estate

Investment

Corp.

500,926

0.0

118,500 

Japan

Tobacco,

Inc.

3,455,312

0.2

56,800 

JFE

Holdings,

Inc.

763,630

0.1

39,100 

Kajima

Corp.

732,859

0.0

69,500 

Kansai

Electric

Power

Co.,

Inc.

1,151,814

0.1

46,000 

Kao

Corp.

2,273,625

0.1

38,800 

(1)

Kawasaki

Kisen

Kaisha

Ltd.

604,873

0.0

151,500 

KDDI

Corp.

4,853,682

0.3

12,700 

Keisei

Electric

Railway

Co.

Ltd.

378,624

0.0

19,200 

Keyence

Corp.

9,201,834

0.5

67,000 

Kikkoman

Corp.

762,228

0.0

76,700 

Kirin

Holdings

Co.

Ltd.

1,168,898

0.1

14,800 

Kobe

Bussan

Co.

Ltd.

461,586

0.0

13,900 

(1)

Kokusai

Electric

Corp.

313,425

0.0

91,300 

Komatsu

Ltd.

2,555,919

0.2

9,900 

Konami

Group

Corp.

1,009,587

0.1

98,700 

Kubota

Corp.

1,409,282

0.1

126,700 

Kyocera

Corp.

1,480,769

0.1

24,000 

Kyowa

Kirin

Co.

Ltd.

423,521

0.0

7,900 

Lasertec

Corp.

1,317,141

0.1

43,300 

M3,

Inc.

433,605

0.0

23,500 

Makita

Corp.

793,867

0.1

140,700 

Marubeni

Corp.

2,324,624

0.1

33,700 

MatsukiyoCocokara

&

Co.

555,219

0.0

55,800 

Mazda

Motor

Corp.

426,342

0.0

8,500 

(1)

McDonald's

Holdings

Co.

Japan

Ltd.

405,004

0.0

23,200 

MEIJI

Holdings

Co.

Ltd.

580,288

0.0

35,800 

MINEBEA

MITSUMI,

Inc.

707,639

0.0

133,800 

Mitsubishi

Chemical

Group

Corp.

860,659

0.1

330,000 

Mitsubishi

Corp.

6,857,352

0.4

187,700 

Mitsubishi

Electric

Corp.

3,044,672

0.2

112,900 

Mitsubishi

Estate

Co.

Ltd.

1,783,176

0.1

79,600 

Mitsubishi

HC

Capital,

Inc.

565,329

0.0

316,400 

Mitsubishi

Heavy

Industries

Ltd.

4,728,281

0.3

1,096,100 

Mitsubishi

UFJ

Financial

Group,

Inc.

11,255,414

0.6

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

5

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan

(continued)

254,000 

Mitsui

&

Co.

Ltd.

$

5,680,466

0.3

16,800 

Mitsui

Chemicals,

Inc.

448,763

0.0

263,600 

Mitsui

Fudosan

Co.

Ltd.

2,483,865

0.1

34,000 

(1)

Mitsui

OSK

Lines

Ltd.

1,177,101

0.1

238,100 

Mizuho

Financial

Group,

Inc.

4,921,726

0.3

24,600 

MonotaRO

Co.

Ltd.

410,205

0.0

127,000 

MS&AD

Insurance

Group

Holdings,

Inc.

2,985,032

0.2

167,000 

Murata

Manufacturing

Co.

Ltd.

3,304,717

0.2

24,200 

NEC

Corp.

2,336,906

0.1

33,200 

Nexon

Co.

Ltd.

659,747

0.0

82,400 

NIDEC

Corp.

1,734,775

0.1

102,600 

Nintendo

Co.

Ltd.

5,484,114

0.3

755 

Nippon

Building

Fund,

Inc.

691,826

0.0

93,600 

Nippon

Paint

Holdings

Co.

Ltd.

712,851

0.0

223 

(1)

Nippon

Prologis

REIT,

Inc.

381,985

0.0

17,100 

Nippon

Sanso

Holdings

Corp.

627,621

0.0

85,500 

(1)

Nippon

Steel

Corp.

1,916,237

0.1

2,949,800 

Nippon

Telegraph

&

Telephone

Corp.

3,024,092

0.2

45,500 

(1)

Nippon

Yusen

KK

1,671,286

0.1

231,600 

(1)

Nissan

Motor

Co.

Ltd.

657,891

0.0

19,700 

Nissin

Foods

Holdings

Co.

Ltd.

550,502

0.0

7,900 

Nitori

Holdings

Co.

Ltd.

1,176,171

0.1

70,500 

Nitto

Denko

Corp.

1,186,393

0.1

296,700 

Nomura

Holdings,

Inc.

1,548,473

0.1

10,800 

Nomura

Real

Estate

Holdings,

Inc.

290,985

0.0

37,300 

Nomura

Research

Institute

Ltd.

1,384,266

0.1

62,300 

NTT

Data

Group

Corp.

1,121,256

0.1

64,100 

Obayashi

Corp.

816,868

0.1

32,000 

Obic

Co.

Ltd.

1,122,696

0.1

116,300 

Olympus

Corp.

2,210,782

0.1

17,300 

Omron

Corp.

790,951

0.1

36,900 

(1)

Ono

Pharmaceutical

Co.

Ltd.

495,321

0.0

3,800 

Oracle

Corp.

Japan

392,326

0.0

107,700 

Oriental

Land

Co.

Ltd./

Japan

2,785,918

0.2

113,900 

ORIX

Corp.

2,665,130

0.2

36,400 

Osaka

Gas

Co.

Ltd.

820,897

0.1

22,400 

Otsuka

Corp.

553,211

0.0

41,300 

Otsuka

Holdings

Co.

Ltd.

2,345,804

0.1

37,600 

Pan

Pacific

International

Holdings

Corp.

976,992

0.1

230,200 

Panasonic

Holdings

Corp.

2,022,251

0.1

148,500 

(2)

Rakuten

Group,

Inc.

958,183

0.1

146,600 

Recruit

Holdings

Co.

Ltd.

8,906,303

0.5

166,200 

Renesas

Electronics

Corp.

2,412,006

0.1

207,000 

Resona

Holdings,

Inc.

1,450,469

0.1

53,900 

(1)

Ricoh

Co.

Ltd.

584,950

0.0

33,900 

(1)

Rohm

Co.

Ltd.

381,906

0.0

26,800 

SBI

Holdings,

Inc.

620,220

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan

(continued)

8,000 

SCREEN

Holdings

Co.

Ltd.

$

562,572

0.0

15,400 

SCSK

Corp.

319,306

0.0

41,400 

Secom

Co.

Ltd.

1,531,347

0.1

28,500 

Seiko

Epson

Corp.

527,212

0.0

37,400 

Sekisui

Chemical

Co.

Ltd.

584,777

0.0

58,900 

Sekisui

House

Ltd.

1,635,399

0.1

219,700 

Seven

&

i

Holdings

Co.

Ltd.

3,308,166

0.2

31,400 

SG

Holdings

Co.

Ltd.

336,776

0.0

23,300 

Shimadzu

Corp.

779,305

0.1

7,500 

Shimano,

Inc.

1,427,759

0.1

177,800 

Shin-Etsu

Chemical

Co.

Ltd.

7,430,333

0.4

74,700 

Shionogi

&

Co.

Ltd.

1,070,764

0.1

39,500 

Shiseido

Co.

Ltd.

1,074,270

0.1

43,100 

Shizuoka

Financial

Group,

Inc.

375,930

0.0

5,700 

SMC

Corp.

2,549,157

0.2

2,819,000 

SoftBank

Corp.

3,680,460

0.2

101,600 

SoftBank

Group

Corp.

6,026,529

0.3

92,900 

Sompo

Holdings,

Inc.

2,094,041

0.1

616,500 

Sony

Group

Corp.

11,977,112

0.7

59,500 

Subaru

Corp.

1,052,623

0.1

34,400 

SUMCO

Corp.

372,068

0.0

102,600 

Sumitomo

Corp.

2,303,991

0.1

70,500 

Sumitomo

Electric

Industries

Ltd.

1,144,757

0.1

24,300 

Sumitomo

Metal

Mining

Co.

Ltd.

729,252

0.0

370,500 

Sumitomo

Mitsui

Financial

Group,

Inc.

7,916,334

0.5

64,300 

Sumitomo

Mitsui

Trust

Holdings,

Inc.

1,539,017

0.1

28,200 

Sumitomo

Realty

&

Development

Co.

Ltd.

954,585

0.1

13,700 

Suntory

Beverage

&

Food

Ltd.

515,859

0.0

155,200 

Suzuki

Motor

Corp.

1,747,535

0.1

49,700 

Sysmex

Corp.

983,749

0.1

48,300 

T&D

Holdings,

Inc.

851,568

0.1

16,400 

Taisei

Corp.

720,167

0.0

157,100 

Takeda

Pharmaceutical

Co.

Ltd.

4,526,615

0.3

192,000 

TDK

Corp.

2,452,672

0.1

132,400 

Terumo

Corp.

2,508,250

0.1

21,000 

TIS,

Inc.

536,061

0.0

11,000 

Toho

Co.

Ltd./Tokyo

446,154

0.0

185,500 

Tokio

Marine

Holdings,

Inc.

6,840,210

0.4

150,700 

(2)

Tokyo

Electric

Power

Co.

Holdings,

Inc.

668,365

0.0

44,200 

Tokyo

Electron

Ltd.

7,882,439

0.5

35,600 

Tokyo

Gas

Co.

Ltd.

829,235

0.1

49,300 

Tokyu

Corp.

638,431

0.0

23,600 

TOPPAN

Holdings,

Inc.

702,391

0.0

136,900 

Toray

Industries,

Inc.

808,506

0.1

13,900 

TOTO

Ltd.

517,045

0.0

14,500 

Toyota

Industries

Corp.

1,124,367

0.1

1,013,500 

Toyota

Motor

Corp.

18,216,662

1.0

62,900 

Toyota

Tsusho

Corp.

1,150,045

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

6

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan

(continued)

12,500 

Trend

Micro,

Inc./Japan

$

742,192

0.0

39,800 

Unicharm

Corp.

1,433,827

0.1

43,400 

West

Japan

Railway

Co.

824,226

0.1

25,200 

(1)

Yakult

Honsha

Co.

Ltd.

583,601

0.0

83,000 

Yamaha

Motor

Co.

Ltd.

747,507

0.0

23,700 

Yaskawa

Electric

Corp.

829,652

0.1

22,500 

Yokogawa

Electric

Corp.

576,559

0.0

263,900 

Z

Holdings

Corp.

769,215

0.1

9,500 

Zensho

Holdings

Co.

Ltd.

526,357

0.0

13,300 

(1)

ZOZO,

Inc.

483,184

0.0

388,358,070

22.1

Jordan

:

0.0%

16,338 

Hikma

Pharmaceuticals

PLC

418,085

0.0

Luxembourg

:

0.2%

46,303 

ArcelorMittal

SA

1,212,429

0.1

13,335 

Eurofins

Scientific

SE

845,456

0.1

46,616 

Tenaris

SA

739,886

0.0

2,797,771

0.2

Macao

:

0.0%

238,400 

(2)

Sands

China

Ltd.

600,361

0.0

Netherlands

:

4.8%

45,230 

(3)

ABN

AMRO

Bank

NV

817,391

0.0

2,146 

(2)(3)

Adyen

NV

3,359,827

0.2

133,621 

(1)

Aegon

Ltd.

858,266

0.0

16,844 

(1)

Akzo

Nobel

NV

1,189,883

0.1

5,867 

(1)(2)

Argenx

SE

3,172,235

0.2

4,635 

ASM

International,

N.V.

3,057,992

0.2

39,446 

ASML

Holding

NV

32,813,629

1.9

15,646 

(1)

ASR

Nederland

NV

767,006

0.0

7,610 

(1)

BE

Semiconductor

Industries

NV

970,586

0.1

7,930 

(3)

Euronext

NV

860,780

0.1

9,817 

EXOR

NV

1,052,423

0.1

12,795 

Heineken

Holding

NV

966,674

0.1

28,431 

Heineken

NV

2,523,830

0.1

5,626 

(1)

IMCD

NV

977,322

0.1

326,100 

ING

Groep

NV

5,916,449

0.3

12,030 

(1)

JDE

Peet's

NV

251,218

0.0

92,687 

Koninklijke

Ahold

Delhaize

NV

3,201,511

0.2

389,678 

Koninklijke

KPN

NV

1,591,559

0.1

78,933 

(2)

Koninklijke

Philips,

N.V.

2,587,872

0.1

26,728 

NN

Group

NV

1,333,626

0.1

10,375 

(1)

OCI

NV

295,787

0.0

139,939 

Prosus

NV

6,115,662

0.3

10,654 

(1)

Randstad

NV

529,357

0.0

208,904 

Stellantis

NV

(STLAM)

2,892,916

0.2

81,261 

(1)

Universal

Music

Group

NV

2,125,891

0.1

24,533 

Wolters

Kluwer

NV

4,138,031

0.2

84,367,723

4.8

New

Zealand

:

0.3%

146,851 

Auckland

International

Airport

Ltd.

696,909

0.1

57,820 

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

1,281,646

0.1

68,431 

Mercury

NZ

Ltd.

281,087

0.0

127,068 

(1)

Meridian

Energy

Ltd.

479,074

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

New

Zealand

(continued)

178,105 

Spark

New

Zealand

Ltd.

$

342,845

0.0

14,316 

(2)

Xero

Ltd.

1,479,782

0.1

4,561,343

0.3

Norway

:

0.6%

31,196 

Aker

BP

ASA

667,689

0.0

88,403 

DNB

Bank

ASA

1,812,885

0.1

82,709 

Equinor

ASA

2,092,429

0.1

19,635 

Gjensidige

Forsikring

ASA

367,286

0.0

8,683 

Kongsberg

Gruppen

ASA

848,150

0.1

45,943 

Mowi

ASA

825,290

0.1

138,827 

Norsk

Hydro

ASA

896,824

0.1

69,201 

Orkla

ASA

652,665

0.0

6,481 

Salmar

ASA

339,927

0.0

61,826 

Telenor

ASA

790,917

0.1

16,255 

Yara

International

ASA

513,549

0.0

9,807,611

0.6

Poland

:

0.0%

19,635 

(2)

InPost

SA

370,712

0.0

Portugal

:

0.2%

309,776 

EDP

-

Energias

de

Portugal

SA

1,412,828

0.1

45,879 

Galp

Energia

SGPS

SA

858,735

0.1

27,801 

Jeronimo

Martins

SGPS

SA

545,900

0.0

2,817,463

0.2

Singapore

:

1.4%

368,900 

CapitaLand

Ascendas

REIT

816,886

0.1

561,686 

CapitaLand

Integrated

Commercial

Trust

923,234

0.1

231,100 

CapitaLand

Investment

Ltd./Singapore

558,747

0.0

196,660 

DBS

Group

Holdings

Ltd.

5,823,951

0.3

593,700 

Genting

Singapore

Ltd.

402,434

0.0

208,491 

(2)

Grab

Holdings

Ltd.

-

Class

A

792,266

0.1

143,800 

Keppel

Corp.

Ltd.

738,653

0.0

334,300 

Oversea-Chinese

Banking

Corp.

Ltd.

3,913,308

0.2

36,542 

(2)

Sea

Ltd.,

ADR

3,445,180

0.2

88,200 

Sembcorp

Industries

Ltd.

379,148

0.0

147,000 

Singapore

Airlines

Ltd.

775,999

0.1

84,600 

Singapore

Exchange

Ltd.

749,619

0.0

153,300 

Singapore

Technologies

Engineering

Ltd.

553,680

0.0

733,600 

Singapore

Telecommunications

Ltd.

1,844,573

0.1

124,800 

United

Overseas

Bank

Ltd.

3,115,254

0.2

188,600 

Wilmar

International

Ltd.

489,156

0.0

25,322,088

1.4

South

Korea

:

0.0%

73,532 

(1)(2)

DoubleUGames

Co.

Ltd.

-

Class

B

202,433

0.0

Spain

:

2.8%

2,423 

(1)

Acciona

SA

343,768

0.0

18,129 

ACS

Actividades

de

Construccion

y

Servicios

SA

836,784

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

7

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Spain

(continued)

7,404 

(3)

Aena

SME

SA

$

1,626,481

0.1

44,472 

Amadeus

IT

Group

SA

3,220,780

0.2

568,935 

(1)

Banco

Bilbao

Vizcaya

Argentaria

SA

6,145,801

0.4

537,043 

Banco

de

Sabadell

SA

1,140,538

0.1

1,529,550 

Banco

Santander

SA

7,837,224

0.5

358,742 

(1)

CaixaBank

SA

2,140,957

0.1

52,306 

(3)

Cellnex

Telecom

SA

2,120,636

0.1

30,636 

(1)

EDP

Renovaveis

SA

534,563

0.0

31,355 

Endesa

SA

685,008

0.0

51,509 

(1)

Ferrovial

SE

2,213,709

0.1

29,285 

(2)

Grifols

SA

332,820

0.0

602,912 

Iberdrola

SA

9,320,520

0.5

107,683 

Industria

de

Diseno

Textil

SA

6,377,696

0.4

40,060 

Red

Electrica

Corp.

SA

778,811

0.0

120,178 

Repsol

SA

1,585,065

0.1

391,819 

(1)

Telefonica

SA

1,916,816

0.1

49,157,977

2.8

Sweden

:

3.3%

25,657 

AddTech

AB

-

Class

B

769,173

0.1

28,562 

Alfa

Laval

AB

1,373,146

0.1

98,944 

Assa

Abloy

AB

-

Class

B

3,333,414

0.2

265,160 

Atlas

Copco

AB

-

Class

A

5,138,910

0.3

154,085 

Atlas

Copco

AB

-

Class

B

2,643,768

0.2

35,622 

(1)

Beijer

Ref

AB

586,469

0.0

27,000 

Boliden

AB

916,351

0.1

65,056 

Epiroc

AB

-

Class

A

1,409,078

0.1

38,497 

Epiroc

AB

-

Class

B

730,010

0.1

36,872 

(1)

EQT

AB

1,265,740

0.1

60,149 

Essity

AB

-

Class

B

1,876,871

0.1

17,775 

(3)

Evolution

AB

1,748,226

0.1

65,068 

(1)(2)

Fastighets

AB

Balder

572,226

0.0

22,456 

Getinge

AB

-

Class

B

483,291

0.0

56,364 

(1)

H

&

M

Hennes

&

Mauritz

AB

-

Class

B

959,970

0.1

204,955 

(1)

Hexagon

AB

-

Class

B

2,207,585

0.1

7,483 

(1)

Holmen

AB

-

Class

B

323,980

0.0

34,612 

(1)

Husqvarna

AB

-

Class

B

242,447

0.0

12,147 

Industrivarden

AB

-

Class

A

449,237

0.0

15,794 

Industrivarden

AB

-

Class

C

581,590

0.0

26,974 

Indutrade

AB

839,430

0.1

14,536 

(1)

Investment

AB

Latour

-

Class

B

454,150

0.0

170,863 

Investor

AB

-

Class

B

5,265,351

0.3

7,461 

(1)

L

E

Lundbergforetagen

AB

-

Class

B

427,282

0.0

23,012 

Lifco

AB

-

Class

B

757,870

0.1

149,605 

(1)

Nibe

Industrier

AB

-

Class

B

819,936

0.1

31,620 

Saab

AB

-

Class

B

673,839

0.0

21,693 

Sagax

AB

-

Class

B

617,793

0.0

105,255 

(1)

Sandvik

AB

2,355,306

0.1

48,550 

(1)

Securitas

AB

-

Class

B

616,335

0.0

156,652 

Skandinaviska

Enskilda

Banken

AB

-

Class

A

2,398,065

0.1

33,589 

(1)

Skanska

AB

-

Class

B

700,172

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Sweden

(continued)

33,648 

SKF

AB

-

Class

B

$

670,231

0.0

59,824 

(1)

Svenska

Cellulosa

AB

SCA

-

Class

B

872,190

0.1

143,987 

Svenska

Handelsbanken

AB

-

Class

A

1,479,027

0.1

83,811 

Swedbank

AB

-

Class

A

1,778,944

0.1

19,240 

(1)(2)

Swedish

Orphan

Biovitrum

AB

619,493

0.0

52,942 

(1)

Tele2

AB

-

Class

B

598,969

0.0

273,857 

(1)

Telefonaktiebolaget

LM

Ericsson

-

Class

B

2,069,388

0.1

232,900 

Telia

Co.

AB

753,106

0.1

21,137 

Trelleborg

AB

-

Class

B

813,582

0.1

19,659 

Volvo

AB

-

Class

A

524,946

0.0

156,809 

Volvo

AB

-

Class

B

4,147,943

0.2

57,864,830

3.3

Switzerland

:

10.3%

156,123 

ABB

Ltd.,

Reg

9,057,575

0.5

16,627 

Adecco

Group

AG

567,053

0.0

49,329 

Alcon,

Inc.

4,936,858

0.3

3,313 

(1)

Bachem

Holding

AG

279,291

0.0

4,295 

(1)

Baloise

Holding

AG,

Reg

878,300

0.1

2,957 

(1)

Banque

Cantonale

Vaudoise

305,410

0.0

352 

(1)

Barry

Callebaut

AG

651,707

0.0

2,073 

BKW

AG

375,914

0.0

11 

Chocoladefabriken

Lindt

&

Spruengli

AG

1,401,076

0.1

97 

(1)

Chocoladefabriken

Lindt

&

Spruengli

AG

-

Class

PC

1,251,293

0.1

53,069 

Cie

Financiere

Richemont

SA

8,427,585

0.5

21,182 

(1)

Clariant

AG

321,037

0.0

21,532 

Coca-Cola

HBC

AG

-

Class

DI

767,666

0.0

18,359 

DSM-Firmenich

AG

2,533,680

0.2

8,990 

Dufry

AG,

Reg

380,507

0.0

693 

EMS-Chemie

Holding

AG

582,281

0.0

5,871 

(2)

Galderma

Group

AG

545,236

0.0

3,300 

Geberit

AG,

Reg

2,154,260

0.1

912 

Givaudan

SA,

Reg

5,003,731

0.3

1,023,756 

Glencore

PLC

5,862,704

0.3

3,664 

(1)

Helvetia

Holding

AG

633,617

0.0

51,453 

Holcim

AG

5,038,940

0.3

20,336 

Julius

Baer

Group

Ltd.

1,226,341

0.1

4,768 

(1)

Kuehne

+

Nagel

International

AG

1,302,706

0.1

15,380 

Logitech

International

SA

1,377,445

0.1

7,130 

Lonza

Group

AG

4,524,582

0.3

258,639 

Nestle

SA

25,991,263

1.5

194,565 

Novartis

AG,

Reg

22,402,678

1.3

2,240 

Partners

Group

Holding

AG

3,377,196

0.2

69,355 

Roche

Holding

AG

22,194,796

1.3

3,160 

Roche

Holding

AG

-

Class

BR

1,081,852

0.1

40,420 

Sandoz

Group

AG

1,684,419

0.1

4,019 

Schindler

Holding

AG

1,179,593

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

8

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Switzerland

(continued)

2,318 

Schindler

Holding

AG

(SCHN)

$

659,258

0.0

15,190 

SGS

SA

1,696,136

0.1

30,189 

(1)

SIG

Group

AG

673,061

0.0

15,050 

Sika

AG,

Reg

4,988,556

0.3

5,003 

Sonova

Holding

AG,

Reg

1,802,058

0.1

11,019 

Straumann

Holding

AG

1,802,436

0.1

5,194 

Swatch

Group

AG

222,596

0.0

2,856 

(1)

Swatch

Group

AG

-

Class

BR

612,403

0.0

2,836 

Swiss

Life

Holding

AG

2,373,047

0.1

7,632 

Swiss

Prime

Site

AG

855,347

0.1

29,775 

Swiss

Re

AG

4,120,249

0.2

2,557 

Swisscom

AG,

Reg

1,671,024

0.1

5,937 

Temenos

AG

415,673

0.0

324,679 

UBS

Group

AG

10,046,883

0.6

2,665 

(3)

VAT

Group

AG

1,362,878

0.1

14,448 

Zurich

Insurance

Group

AG

8,728,904

0.5

180,329,101

10.3

United

Kingdom

:

13.7%

96,089 

3i

Group

PLC

4,256,605

0.2

25,702 

Admiral

Group

PLC

958,044

0.1

125,440 

Anglo

American

PLC

4,077,523

0.2

43,169 

Ashtead

Group

PLC

3,344,774

0.2

33,224 

Associated

British

Foods

PLC

1,038,341

0.1

153,038 

AstraZeneca

PLC

23,841,281

1.4

88,471 

(3)

Auto

Trader

Group

PLC

1,028,493

0.1

265,815 

Aviva

PLC

1,721,623

0.1

299,130 

BAE

Systems

PLC

4,966,186

0.3

1,457,327 

Barclays

PLC

4,378,666

0.3

136,067 

Barratt

Developments

PLC

872,954

0.1

10,038 

Berkeley

Group

Holdings

PLC

634,919

0.0

1,631,756 

BP

PLC

8,510,499

0.5

197,133 

British

American

Tobacco

PLC

7,187,102

0.4

638,684 

(1)

BT

Group

PLC

1,265,918

0.1

33,394 

Bunzl

PLC

1,581,510

0.1

524,051 

Centrica

PLC

819,691

0.1

20,383 

Coca-Cola

European

Partners

PLC

-

USD

1,605,161

0.1

167,886 

Compass

Group

PLC

5,382,380

0.3

13,095 

Croda

International

PLC

739,898

0.0

219,463 

Diageo

PLC

7,665,833

0.4

18,040 

Endeavour

Mining

PLC

426,922

0.0

62,730 

Entain

PLC

640,923

0.0

409,187 

GSK

PLC

8,331,477

0.5

721,211 

Haleon

PLC

3,773,742

0.2

37,477 

Halma

PLC

1,310,403

0.1

34,925 

Hargreaves

Lansdown

PLC

520,496

0.0

1,828,057 

HSBC

Holdings

PLC

16,399,568

0.9

80,580 

Imperial

Brands

PLC

2,344,001

0.1

131,608 

Informa

PLC

1,447,364

0.1

16,016 

InterContinental

Hotels

Group

PLC

1,744,148

0.1

15,932 

Intertek

Group

PLC

1,101,499

0.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

United

Kingdom

(continued)

163,319 

J

Sainsbury

PLC

$

646,311

0.0

254,427 

JD

Sports

Fashion

PLC

524,615

0.0

183,823 

Kingfisher

PLC

793,334

0.0

69,857 

Land

Securities

Group

PLC

608,954

0.0

588,049 

Legal

&

General

Group

PLC

1,782,254

0.1

6,159,977 

Lloyds

Banking

Group

PLC

4,843,550

0.3

47,201 

London

Stock

Exchange

Group

PLC

6,462,348

0.4

223,234 

M&G

PLC

619,220

0.0

129,888 

Melrose

Industries

PLC

793,820

0.0

475,001 

National

Grid

PLC

6,565,953

0.4

656,155 

NatWest

Group

PLC

3,037,580

0.2

11,857 

Next

PLC

1,553,228

0.1

59,964 

Pearson

PLC

815,175

0.1

31,574 

Persimmon

PLC

694,815

0.0

68,829 

Phoenix

Group

Holdings

PLC

515,549

0.0

68,905 

Reckitt

Benckiser

Group

PLC

4,215,903

0.2

184,297 

RELX

PLC

8,701,840

0.5

249,215 

Rentokil

Initial

PLC

1,218,631

0.1

111,286 

Rio

Tinto

PLC

7,899,941

0.5

839,579 

(2)

Rolls-Royce

Holdings

PLC

5,942,123

0.3

99,045 

Sage

Group

PLC

1,360,507

0.1

79,133 

Schroders

PLC

370,798

0.0

126,827 

Segro

PLC

1,486,478

0.1

26,644 

Severn

Trent

PLC

943,292

0.1

622,057 

Shell

PLC

20,180,641

1.2

86,313 

Smith

&

Nephew

PLC

1,339,659

0.1

34,066 

Smiths

Group

PLC

765,568

0.0

7,267 

Spirax-Sarco

Engineering

PLC

732,551

0.0

107,944 

SSE

PLC

2,720,669

0.2

214,120 

Standard

Chartered

PLC

2,270,955

0.1

349,448 

Taylor

Wimpey

PLC

768,676

0.0

683,708 

Tesco

PLC

3,282,699

0.2

246,285 

Unilever

PLC

15,967,492

0.9

67,314 

United

Utilities

Group

PLC

943,765

0.1

2,231,012 

Vodafone

Group

PLC

2,235,919

0.1

18,112 

Whitbread

PLC

760,317

0.0

65,756 

(2)

Wise

PLC

-

Class

A

591,255

0.0

106,472 

WPP

PLC

1,090,641

0.1

239,964,970

13.7

United

States

:

0.0%

21,845 

(1)

QIAGEN

NV

987,482

0.0

Total

Common

Stock

(Cost

$1,465,531,290)

1,724,307,820

98.2

PREFERRED

STOCK

:

0.4%

Germany

:

0.4%

5,785 

Bayerische

Motoren

Werke

AG

480,082

0.0

11,241 

(3)

Dr

Ing

hc

F

Porsche

AG

898,315

0.1

16,708 

Henkel

AG

&

Co.

KGaA

1,570,552

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

9

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

PREFERRED

STOCK:

(continued)

Germany

(continued)

15,116 

Porsche

Automobil

Holding

SE

$

692,572

0.0

2,587 

Sartorius

AG

727,413

0.1

20,356 

Volkswagen

AG

2,162,066

0.1

6,531,000

0.4

Total

Preferred

Stock

(Cost

$7,877,564)

6,531,000

0.4

Total

Long-Term

Investments

(Cost

$1,473,408,854)

1,730,838,820

98.6

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

4.3%

Repurchase

Agreements

:

3.6%

14,916,260 

(4)

ASL

Capital

Markets,

Inc.,

Repurchase

Agreement

dated

09/30/2024,

5.350%,

due

10/01/2024

(Repurchase

Amount

$14,918,446,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.470%-

7.000%,

Market

Value

plus

accrued

interest

$15,214,585,

due

06/01/28-07/15/59)

14,916,260

0.8

14,921,384 

(4)

Cantor

Fitzgerald

Securities,

Repurchase

Agreement

dated

09/30/2024,

5.000%,

due

10/01/2024

(Repurchase

Amount

$14,923,428,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.500%-

7.408%,

Market

Value

plus

accrued

interest

$15,219,812,

due

05/01/26-08/20/74)

14,921,384

0.8

14,921,384 

(4)

CF

Secured

LLC,

Repurchase

Agreement

dated

09/30/2024,

5.000%,

due

10/01/2024

(Repurchase

Amount

$14,923,428,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

7.070%,

Market

Value

plus

accrued

interest

$15,219,812,

due

05/15/27-07/20/73)

14,921,384

0.9

Principal

Amount†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

2,419,412 

(4)

Clear

Street

LLC,

Repurchase

Agreement

dated

09/30/2024,

5.020%,

due

10/01/2024

(Repurchase

Amount

$2,419,745,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

6.500%,

Market

Value

plus

accrued

interest

$2,467,570,

due

07/31/25-08/01/54)

$

2,419,412

0.1

14,921,384 

(4)

Marex

Capital

Markets

Inc.,

Repurchase

Agreement

dated

09/30/2024,

5.000%,

due

10/01/2024

(Repurchase

Amount

$14,923,428,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.750%-

5.500%,

Market

Value

plus

accrued

interest

$15,219,812,

due

07/15/28-09/01/54)

14,921,384

0.9

963,381 

(4)

RBC

Dominion

Securities,

Inc.,

Repurchase

Agreement

dated

09/30/2024,

4.860%,

due

10/01/2024

(Repurchase

Amount

$963,509,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

6.500%,

Market

Value

plus

accrued

interest

$982,649,

due

10/31/24-09/20/54)

963,381

0.1

Total

Repurchase

Agreements

(Cost

$63,063,205)

63,063,205

3.6

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

10

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

0.7%

12,484,000 

(5)

BlackRock

Liquidity

Funds,

FedFund,

Institutional

Class,

4.830%

(Cost

$12,484,000)

$

12,484,000

0.7

Total

Short-Term

Investments

(Cost

$75,547,205)

$

75,547,205

4.3

Total

Investments

in

Securities

(Cost

$1,548,956,059)

$

1,806,386,025

102.9

Liabilities

in

Excess

of

Other

Assets

(50,775,609)

(2.9)

Net

Assets

$

1,755,610,416

100.0

ADR

American

Depositary

Receipt

†

Unless

otherwise

indicated,

principal

amount

is

shown

in

USD.

(1)

Security,

or

a

portion

of

the

security,

is

on

loan.

(2)

Non-income

producing

security.

(3)

Securities

with

purchases

pursuant

to

Rule

144A

or

section

4(a)(2),

under

the

Securities

Act

of

1933

and

may

not

be

resold

subject

to

that

rule

except

to

qualified

institutional

buyers.

(4)

All

or

a

portion

of

the

security

represents

securities

purchased

with

cash

collateral

received

for

securities

on

loan.

(5)

Rate

shown

is

the

7-day

yield

as

of

September

30,

2024.

Sector

Diversification

Percentage

of

Net

Assets

Financials

20.3

%

Industrials

17.1

Health

Care

13.2

Consumer

Discretionary

10.8

Information

Technology

8.6

Consumer

Staples

8.6

Materials

6.7

Communication

Services

4.2

Energy

3.5

Utilities

3.4

Real

Estate

2.2

Short-Term

Investments

4.3

Liabilities

in

Excess

of

Other

Assets

(2.9)

Net

Assets

100.0%

Portfolio

holdings

are

subject

to

change

daily.

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2024

(Unaudited)

(continued)

11

Voya

VACS

Index

Series

I

Portfolio

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

September

30,

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

Australia

$

—

$

129,904,080

$

—

$

129,904,080

Austria

—

4,105,692

—

4,105,692

Belgium

648,329

13,626,868

—

14,275,197

Chile

—

1,049,300

—

1,049,300

Denmark

—

58,369,578

—

58,369,578

Finland

—

18,003,310

—

18,003,310

France

716,045

193,206,026

—

193,922,071

Germany

—

148,779,810

—

148,779,810

Hong

Kong

1,142,179

35,447,843

—

36,590,022

Ireland

1,813,888

12,316,009

—

14,129,897

Israel

7,201,403

6,228,236

—

13,429,639

Italy

—

43,821,204

—

43,821,204

Japan

—

388,358,070

—

388,358,070

Jordan

—

418,085

—

418,085

Luxembourg

—

2,797,771

—

2,797,771

Macao

—

600,361

—

600,361

Netherlands

9,317,173

75,050,550

—

84,367,723

New

Zealand

1,039,754

3,521,589

—

4,561,343

Norway

1,498,130

8,309,481

—

9,807,611

Poland

—

370,712

—

370,712

Portugal

545,900

2,271,563

—

2,817,463

Singapore

4,237,446

21,084,642

—

25,322,088

South

Korea

—

202,433

—

202,433

Spain

—

49,157,977

—

49,157,977

Sweden

3,848,439

54,016,391

—

57,864,830

Switzerland

545,236

179,783,865

—

180,329,101

United

Kingdom

1,605,161

238,359,809

—

239,964,970

United

States

—

987,482

—

987,482

Total

Common

Stock

34,159,083

1,690,148,737

—

1,724,307,820

Preferred

Stock

—

6,531,000

—

6,531,000

Short-Term

Investments

12,484,000

63,063,205

—

75,547,205

Total

Investments,

at

fair

value

$

46,643,083

$

1,759,742,942

$

—

$

1,806,386,025

Other

Financial

Instruments+

Futures

318,501

—

—

318,501

Total

Assets

$

46,961,584

$

1,759,742,942

$

—

$

1,806,704,526

#

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)

12

Voya

VACS

Index

Series

I

Portfolio

At

September

30,

2024,

the

following

futures

contracts

were

outstanding

for

Voya

VACS

Index

Series

I

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation

Long

Contracts:

MSCI

EAFE

Index

168

12/20/24

$

20,897,520

$

318,501

$

20,897,520

$

318,501

Net

unrealized

appreciation

consisted

of:

Gross

Unrealized

Appreciation

$

318,237,059

Gross

Unrealized

Depreciation

(60,807,094)

Net

Unrealized

Appreciation

$

257,429,965