Semi-Annual Financial Statements and Other Information
June 30, 2024
Classes ADV, I, R6, S and S2
Voya Partners, Inc.
| ■ | Voya Global Bond Portfolio |
| ■ | Voya Global Insights Portfolio (Formerly, VY® Invesco Global Portfolio) |
| ■ | Voya International High Dividend Low Volatility Portfolio |
| ■ | VY® American Century Small-Mid Cap Value Portfolio |
| ■ | VY® Baron Growth Portfolio |
| ■ | VY® Columbia Contrarian Core Portfolio |
| ■ | VY® Columbia Small Cap Value II Portfolio |
| ■ | VY® Invesco Comstock Portfolio |
| ■ | VY® Invesco Equity and Income Portfolio |
| ■ | VY® JPMorgan Mid Cap Value Portfolio |
| ■ | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio |
| ■ | VY® T. Rowe Price Growth Equity Portfolio |
| This report is submitted for general information to shareholders of the Voa mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully. |
|  | E-Delivery Sign-up – details inside |
INVESTMENT MANAGEMENT voyainvestments.com |  |
TABLE OF CONTENTS
Go Paperless with E-Delivery! Sign up now for on-line prospectuses, tailored shareholder reports, and proxy statements. Just go to individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll. You will be notified by e-mail when these communications become available on the internet. |
PROXY VOTING INFORMATION
A description of the policies and procedures that the Portfolios use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Portfolios’ website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Portfolios voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Portfolios’ website at www. voyainvestments.com and on the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Portfolios’ Forms NPORT-P are available on the SEC’s website at www.sec.gov. Each Portfolio’s complete schedule of portfolio holdings is available at: https://individuals.voya.com/product/mutual-fund/ prospectuses-reports and without charge upon request from the Portfolio by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya
Global Bond
Portfolio | | Voya
Global
Insights
Portfolio | | Voya
International
High Dividend
Low Volatility
Portfolio | | VY® American
Century
Small-Mid
Cap Value
Portfolio |
| ASSETS: | | | | | | | | | | | | | | | | |
| Investments in securities at fair value+* | | $ | 92,103,506 | | | $ | 1,127,854,651 | | | $ | 305,416,861 | | | $ | 287,832,826 | |
| Investments in affiliated underlying funds at fair value** | | | 13,046,106 | | | | – | | | | – | | | | – | |
| Short-term investments at fair value† | | | 7,816,095 | | | | 11,980,428 | | | | 7,869,238 | | | | 10,956,128 | |
| Cash | | | – | | | | – | | | | 993 | | | | – | |
| Cash collateral for futures contracts | | | 584,039 | | | | – | | | | – | | | | – | |
| Cash pledged for centrally cleared swaps (Note 2) | | | 1,385,000 | | | | – | | | | – | | | | – | |
| Cash pledged as collateral for OTC derivatives (Note 2) | | | 424,800 | | | | – | | | | – | | | | – | |
| Cash pledged as collateral for delayed-delivery or when-issued securities (Note 2) | | | 11,000 | | | | – | | | | – | | | | – | |
| Foreign currencies at value‡ | | | 1,065,804 | | | | 8,766,892 | | | | 330,993 | | | | 30,367 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investment securities sold | | | 995,060 | | | | 179,097 | | | | 6,469,449 | | | | 576,662 | |
| Fund shares sold | | | 459,773 | | | | 9,876 | | | | 48,258 | | | | 675,748 | |
| Dividends | | | 1,528 | | | | 281,835 | | | | 695,879 | | | | 487,104 | |
| Interest | | | 817,784 | | | | – | | | | 235 | | | | – | |
| Foreign tax reclaims | | | 8,882 | | | | 2,244,428 | | | | 1,965,601 | | | | 19,059 | |
| Variation margin on centrally cleared swaps | | | 81,222 | | | | – | | | | – | | | | – | |
| Unrealized appreciation on forward foreign currency contracts | | | 39,843 | | | | – | | | | – | | | | 54,152 | |
| Unrealized appreciation on forward premium swaptions | | | 99,588 | | | | – | | | | – | | | | – | |
| Prepaid expenses | | | 507 | | | | 4,747 | | | | 1,420 | | | | 1,407 | |
| Reimbursement due from Investment Adviser | | | 15,799 | | | | 103,380 | | | | – | | | | 70,383 | |
| Other assets | | | 11,996 | | | | 72,489 | | | | 40,929 | | | | 13,316 | |
| Total assets | | | 118,968,332 | | | | 1,151,497,823 | | | | 322,839,856 | | | | 300,717,152 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya
Global Bond
Portfolio | | Voya
Global
Insights
Portfolio | | Voya
International
High Dividend
Low Volatility
Portfolio | | VY® American
Century
Small-Mid
Cap Value
Portfolio |
| LIABILITIES: | | | | | | | | | | | | |
| Income distribution payable | | | 370,632 | | | | – | | | | – | | | | – | |
| Payable for investment securities purchased | | | 258,062 | | | | 174,740 | | | | 3,394,067 | | | | 260,155 | |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | | | 5,399,206 | | | | – | | | | – | | | | – | |
| Payable for fund shares redeemed | | | 61,473 | | | | 220,041 | | | | 43,711 | | | | 91,797 | |
| Payable upon receipt of securities loaned | | | 4,418,639 | | | | – | | | | 7,869,238 | | | | 6,489,162 | |
| Unrealized depreciation on forward foreign currency contracts | | | 755,417 | | | | – | | | | – | | | | 446 | |
| Unrealized depreciation on forward premium swaptions | | | 14,912 | | | | – | | | | – | | | | – | |
| Unrealized depreciation on OTC swap agreements | | | 57,183 | | | | – | | | | – | | | | – | |
| Variation margin payable on futures contracts | | | 31,753 | | | | – | | | | – | | | | – | |
| Payable for investment management fees | | | 52,144 | | | | 611,050 | | | | 154,039 | | | | 216,706 | |
| Payable for distribution and shareholder service fees | | | 15,807 | | | | 72,000 | | | | 48,420 | | | | 57,692 | |
| Payable to custodian due to bank overdraft | | | 607,770 | | | | – | | | | – | | | | – | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 11,996 | | | | 72,489 | | | | 40,929 | | | | 13,316 | |
| Payable for directors fees | | | 700 | | | | 1,704 | | | | 1,931 | | | | 3,500 | |
| Payable for foreign capital gains tax | | | – | | | | 893,601 | | | | – | | | | – | |
| Payable for borrowings against line of credit (Note 8) | | | – | | | | – | | | | 4,333,000 | | | | – | |
| Payable for shareholder notification costs (Note 6) | | | – | | | | 15,000 | | | | – | | | | – | |
| Other accrued expenses and liabilities | | | 87,290 | | | | 410,203 | | | | 125,228 | | | | 144,741 | |
| Written options, at fair value^ | | | 211,081 | | | | – | | | | – | | | | – | |
| Total liabilities | | | 12,354,065 | | | | 2,470,828 | | | | 16,010,563 | | | | 7,277,515 | |
| NET ASSETS | | $ | 106,614,267 | | | $ | 1,149,026,995 | | | $ | 306,829,293 | | | $ | 293,439,637 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 138,441,199 | | | $ | 332,024,153 | | | $ | 261,364,615 | | | $ | 270,891,765 | |
| Total distributable earnings (loss) | | | (31,826,932 | ) | | | 817,002,842 | | | | 45,464,678 | | | | 22,547,872 | |
| NET ASSETS | | $ | 106,614,267 | | | $ | 1,149,026,995 | | | $ | 306,829,293 | | | $ | 293,439,637 | |
| | | | | | | | | | | | | | | | | |
| + Including securities loaned at value | | $ | 4,271,784 | | | $ | — | | | $ | 7,454,605 | | | $ | 6,319,599 | |
| * Cost of investments in securities | | $ | 98,625,432 | | | $ | 1,005,790,251 | | | $ | 276,249,650 | | | $ | 285,198,154 | |
| ** Cost of investments in affiliated underlying funds | | $ | 13,389,702 | | | $ | — | | | $ | — | | | $ | — | |
| † Cost of short-term investments | | $ | 7,817,490 | | | $ | 11,980,428 | | | $ | 7,869,238 | | | $ | 10,956,128 | |
| ‡ Cost of foreign currencies | | $ | 1,065,839 | | | $ | 8,765,593 | | | $ | 330,911 | | | $ | 30,367 | |
| ^ Premiums received on written options | | $ | 158,202 | | | $ | — | | | $ | — | | | $ | — | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya
Global Bond
Portfolio | | Voya
Global
Insights
Portfolio | | Voya
International
High Dividend
Low Volatility
Portfolio | | VY® American
Century
Small-Mid
Cap Value
Portfolio |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 12,949,446 | | | $ | 112,517,147 | | | $ | 24,924,495 | | | $ | 99,500,938 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,650,176 | | | | 6,528,167 | | | | 2,441,918 | | | | 9,877,209 | |
| Net asset value and redemption price per share | | $ | 7.85 | | | $ | 17.24 | | | $ | 10.21 | | | $ | 10.07 | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 70,577,713 | | | $ | 914,700,598 | | | $ | 101,630,104 | | | $ | 113,347,928 | |
| Shares authorized | | | 100,000,000 | | | | 250,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 8,827,138 | | | | 48,007,778 | | | | 9,806,109 | | | | 10,051,841 | |
| Net asset value and redemption price per share | | $ | 8.00 | | | $ | 19.05 | | | $ | 10.36 | | | $ | 11.28 | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 23,087,108 | | | $ | 119,048,159 | | | $ | 180,074,072 | | | $ | 78,828,211 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 2,891,107 | | | | 6,756,611 | | | | 17,515,949 | | | | 7,171,081 | |
| Net asset value and redemption price per share | | $ | 7.99 | | | $ | 17.62 | | | $ | 10.28 | | | $ | 10.99 | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | | n/a | | | $ | 2,761,091 | | | $ | 200,622 | | | $ | 1,762,560 | |
| Shares authorized | | | n/a | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | | n/a | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | n/a | | | | 166,098 | | | | 19,242 | | | | 174,678 | |
| Net asset value and redemption price per share | | | n/a | | | $ | 16.62 | | | $ | 10.43 | | | $ | 10.09 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | VY®
Baron
Growth
Portfolio | | VY®
Columbia
Contrarian Core
Portfolio | | VY®
Columbia
Small Cap
Value II
Portfolio | | VY®
Invesco
Comstock
Portfolio |
| ASSETS: | | | | | | | | | | | | |
| Investments in securities at fair value* | | $ | 438,315,318 | | | $ | 76,104,393 | | | $ | 129,878,360 | | | $ | 216,317,271 | |
| Short-term investments at fair value† | | | 78,464 | | | | 2,270,160 | | | | – | | | | 10,430,418 | |
| Foreign currencies at value‡ | | | – | | | | – | | | | – | | | | 588 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investment securities sold | | | 810,777 | | | | 161,834 | | | | 7,368,937 | | | | 475,153 | |
| Fund shares sold | | | 770,632 | | | | 8,142 | | | | 152,720 | | | | 90,911 | |
| Dividends | | | 420,829 | | | | 36,011 | | | | 123,506 | | | | 368,919 | |
| Interest | | | – | | | | – | | | | – | | | | 9 | |
| Foreign tax reclaims | | | – | | | | 34,116 | | | | – | | | | 24,630 | |
| Unrealized appreciation on forward foreign currency contracts | | | – | | | | – | | | | – | | | | 42,660 | |
| Prepaid expenses | | | 2,106 | | | | 229 | | | | 664 | | | | 1,107 | |
| Reimbursement due from Investment Adviser | | | 42,798 | | | | 14,402 | | | | 19,520 | | | | 18,557 | |
| Other assets | | | 31,950 | | | | 12,464 | | | | 8,694 | | | | 21,322 | |
| Total assets | | | 440,472,874 | | | | 78,641,751 | | | | 137,552,401 | | | | 227,791,545 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investment securities purchased | | | – | | | | – | | | | 5,893,963 | | | | 107,956 | |
| Payable for fund shares redeemed | | | 201,297 | | | | 93,605 | | | | 80,417 | | | | 58,572 | |
| Unrealized depreciation on forward foreign currency contracts | | | – | | | | – | | | | – | | | | 5,152 | |
| Payable for investment management fees | | | 340,808 | | | | 54,446 | | | | 88,273 | | | | 128,812 | |
| Payable for distribution and shareholder service fees | | | 79,805 | | | | 22,515 | | | | 23,276 | | | | 31,618 | |
| Payable to custodian due to bank overdraft | | | – | | | | – | | | | 370,548 | | | | – | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 31,950 | | | | 12,464 | | | | 8,694 | | | | 21,322 | |
| Payable for directors fees | | | 4,428 | | | | 2,360 | | | | 1,900 | | | | 144 | |
| Other accrued expenses and liabilities | | | 158,251 | | | | 19,497 | | | | 45,897 | | | | 59,121 | |
| Total liabilities | | | 816,539 | | | | 204,887 | | | | 6,512,968 | | | | 412,697 | |
| NET ASSETS | | $ | 439,656,335 | | | $ | 78,436,864 | | | $ | 131,039,433 | | | $ | 227,378,848 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 29,831,428 | | | $ | 54,580,410 | | | $ | 88,057,831 | | | $ | 148,922,591 | |
| Total distributable earnings | | | 409,824,907 | | | | 23,856,454 | | | | 42,981,602 | | | | 78,456,257 | |
| NET ASSETS | | $ | 439,656,335 | | | $ | 78,436,864 | | | $ | 131,039,433 | | | $ | 227,378,848 | |
| | | | | | | | | | | | | | | | | | |
| * | Cost of investments in securities | | $ | 77,137,190 | | | $ | 55,308,782 | | | $ | 118,985,096 | | | $ | 176,919,200 | |
| † | Cost of short-term investments | | $ | 78,464 | | | $ | 2,270,160 | | | $ | — | | | $ | 10,430,418 | |
| ‡ | Cost of foreign currencies | | $ | — | | | $ | — | | | $ | — | | | $ | 575 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | VY®
Baron
Growth
Portfolio | | VY®
Columbia
Contrarian Core
Portfolio | | VY®
Columbia
Small Cap
Value II
Portfolio | | VY®
Invesco
Comstock
Portfolio |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 98,731,394 | | | $ | 41,701,791 | | | $ | 23,062,249 | | | $ | 31,105,140 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 5,023,138 | | | | 2,994,655 | | | | 1,404,093 | | | | 1,441,035 | |
| Net asset value and redemption price per share | | $ | 19.66 | | | $ | 13.93 | | | $ | 16.43 | | | $ | 21.59 | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 112,276,075 | | | $ | 8,307,254 | | | $ | 34,972,650 | | | $ | 104,237,835 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 4,367,520 | | | | 501,859 | | | | 2,013,747 | | | | 4,761,836 | |
| Net asset value and redemption price per share | | $ | 25.71 | | | $ | 16.55 | | | $ | 17.37 | | | $ | 21.89 | |
| Class R6 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 35,934,674 | | | | n/a | | | $ | 8,040,276 | | | | n/a | |
| Shares authorized | | | 100,000,000 | | | | n/a | | | | 100,000,000 | | | | n/a | |
| Par value | | $ | 0.001 | | | | n/a | | | $ | 0.001 | | | | n/a | |
| Shares outstanding | | | 1,395,511 | | | | n/a | | | | 461,882 | | | | n/a | |
| Net asset value and redemption price per share | | $ | 25.75 | | | | n/a | | | $ | 17.41 | | | | n/a | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 190,666,653 | | | $ | 28,427,819 | | | $ | 63,321,909 | | | $ | 92,035,873 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 8,372,938 | | | | 1,831,907 | | | | 3,670,789 | | | | 4,202,776 | |
| Net asset value and redemption price per share | | $ | 22.77 | | | $ | 15.52 | | | $ | 17.25 | | | $ | 21.90 | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 2,047,539 | | | | n/a | | | $ | 1,642,349 | | | | n/a | |
| Shares authorized | | | 100,000,000 | | | | n/a | | | | 100,000,000 | | | | n/a | |
| Par value | | $ | 0.001 | | | | n/a | | | $ | 0.001 | | | | n/a | |
| Shares outstanding | | | 101,146 | | | | n/a | | | | 99,868 | | | | n/a | |
| Net asset value and redemption price per share | | $ | 20.24 | | | | n/a | | | $ | 16.45 | | | | n/a | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | VY®
Invesco
Equity and
Income
Portfolio | | VY®
JPMorgan
Mid Cap
Value
Portfolio | | VY®
T. Rowe Price
Diversified Mid Cap
Growth
Portfolio | | VY®
T. Rowe Price
Growth Equity
Portfolio |
| ASSETS: | | | | | | | | | | | | |
| Investments in securities at fair value+* | | $ | 958,432,469 | | | $ | 282,461,175 | | | $ | 1,072,118,932 | | | $ | 1,515,801,059 | |
| Short-term investments at fair value† | | | 71,585,138 | | | | 4,506,176 | | | | 7,003,670 | | | | 7,279,888 | |
| Cash | | | – | | | | – | | | | 614,709 | | | | 2,865,541 | |
| Foreign currencies at value‡ | | | 129,922 | | | | – | | | | – | | | | 96,611 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investment securities sold | | | 2,345,163 | | | | – | | | | 2,246,842 | | | | 67,884,174 | |
| Fund shares sold | | | 173,007 | | | | 375,887 | | | | 491,852 | | | | 270,239 | |
| Dividends | | | 938,135 | | | | 503,450 | | | | 214,670 | | | | 187,561 | |
| Interest | | | 2,109,018 | | | | – | | | | 926 | | | | 4,223 | |
| Foreign tax reclaims | | | 92,952 | | | | – | | | | 4,883 | | | | 6,010 | |
| Variation margin on futures contracts | | | 13,078 | | | | – | | | | – | | | | – | |
| Unrealized appreciation on forward foreign | | | | | | | | | | | | | | | | |
| currency contracts | | | 146,910 | | | | – | | | | – | | | | – | |
| Prepaid expenses | | | 4,498 | | | | 1,397 | | | | 4,261 | | | | 5,830 | |
| Reimbursement due from Investment Adviser | | | 28,734 | | | | 29,725 | | | | 43,093 | | | | – | |
| Other assets | | | 76,104 | | | | 21,034 | | | | 44,287 | | | | 71,348 | |
| Total assets | | | 1,036,075,128 | | | | 287,898,844 | | | | 1,082,788,125 | | | | 1,594,472,484 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investment securities purchased | | | 2,299,085 | | | | – | | | | 1,528,251 | | | | 6,154,465 | |
| Payable for fund shares redeemed | | | 290,092 | | | | 72,419 | | | | 259,243 | | | | 1,234,669 | |
| Payable upon receipt of securities loaned | | | 41,300,773 | | | | 902,430 | | | | 5,801,363 | | | | 7,238,073 | |
| Unrealized depreciation on forward foreign currency contracts | | | 29,194 | | | | – | | | | – | | | | – | |
| Payable for investment management fees | | | 512,967 | | | | 195,229 | | | | 639,355 | | | | 831,983 | |
| Payable for distribution and shareholder service fees | | | 154,732 | | | | 58,722 | | | | 34,502 | | | | 143,933 | |
| Payable to custodian due to bank overdraft | | | – | | | | 1,008 | | | | – | | | | – | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 76,104 | | | | 21,034 | | | | 44,287 | | | | 71,348 | |
| Payable for directors fees | | | 1,491 | | | | 1,517 | | | | 2,264 | | | | 17,500 | |
| Other accrued expenses and liabilities | | | 193,360 | | | | 105,164 | | | | 244,942 | | | | 520,385 | |
| Total liabilities | | | 44,857,798 | | | | 1,357,523 | | | | 8,554,207 | | | | 16,212,356 | |
| NET ASSETS | | $ | 991,217,330 | | | $ | 286,541,321 | | | $ | 1,074,233,918 | | | $ | 1,578,260,128 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 772,631,951 | | | $ | 180,872,047 | | | $ | 711,901,674 | | | $ | 707,127,300 | |
| Total distributable earnings | | | 218,585,379 | | | | 105,669,274 | | | | 362,332,244 | | | | 871,132,828 | |
| NET ASSETS | | $ | 991,217,330 | | | $ | 286,541,321 | | | $ | 1,074,233,918 | | | $ | 1,578,260,128 | |
| | | | | | | | | | | | | | | | | | |
| + | Including securities loaned at value | | $ | 40,390,013 | | | $ | 880,668 | | | $ | 5,662,525 | | | $ | 7,391,840 | |
| * | Cost of investments in securities | | $ | 853,021,132 | | | $ | 205,193,397 | | | $ | 863,777,989 | | | $ | 938,262,844 | |
| † | Cost of short-term investments | | $ | 71,585,135 | | | $ | 4,506,176 | | | $ | 7,003,670 | | | $ | 7,279,888 | |
| ‡ | Cost of foreign currencies | | $ | 130,045 | | | $ | — | | | $ | — | | | $ | 96,611 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | VY®
Invesco
Equity and
Income
Portfolio | | VY®
JPMorgan
Mid Cap
Value
Portfolio | | VY®
T. Rowe Price
Diversified Mid Cap
Growth
Portfolio | | VY®
T. Rowe Price
Growth Equity
Portfolio |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 40,776,726 | | | $ | 74,483,197 | | | $ | 67,971,689 | | | $ | 320,263,982 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 953,335 | | | | 5,030,027 | | | | 7,808,746 | | | | 3,805,570 | |
| Net asset value and redemption price per share | | $ | 42.77 | | | $ | 14.81 | | | $ | 8.70 | | | $ | 84.16 | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 402,966,862 | | | $ | 79,803,330 | | | $ | 838,752,155 | | | $ | 1,186,858,660 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 250,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 9,169,016 | | | | 5,095,429 | | | | 74,984,848 | | | | 11,533,599 | |
| Net asset value and redemption price per share | | $ | 43.95 | | | $ | 15.66 | | | $ | 11.19 | | | $ | 102.90 | |
| Class R6 | | | | | | | | | | | | | | | | |
| Net assets | | | n/a | | | | n/a | | | $ | 135,727,487 | | | | n/a | |
| Shares authorized | | | n/a | | | | n/a | | | | 100,000,000 | | | | n/a | |
| Par value | | | n/a | | | | n/a | | | $ | 0.001 | | | | n/a | |
| Shares outstanding | | | n/a | | | | n/a | | | | 12,102,732 | | | | n/a | |
| Net asset value and redemption price per | | | | | | | | | | | | | | | | |
| share | | | n/a | | | | n/a | | | $ | 11.21 | | | | n/a | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 305,935,662 | | | $ | 131,463,383 | | | $ | 28,940,489 | | | $ | 65,073,950 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 7,038,452 | | | | 8,572,133 | | | | 2,842,363 | | | | 694,754 | |
| Net asset value and redemption price per share | | $ | 43.47 | | | $ | 15.34 | | | $ | 10.18 | | | $ | 93.66 | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 241,538,080 | | | $ | 791,411 | | | $ | 2,842,098 | | | $ | 6,063,536 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 5,677,122 | | | | 53,527 | | | | 320,582 | | | | 69,472 | |
| Net asset value and redemption price per share | | $ | 42.55 | | | $ | 14.79 | | | $ | 8.87 | | | $ | 87.28 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | Voya
Global Bond
Portfolio | | | Voya
Global
Insights
Portfolio | | | Voya
International
High Dividend
Low Volatility
Portfolio | | | VY® American
Century
Small-Mid
Cap Value
Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends, net of foreign taxes withheld* | | $ | 12,596 | | | $ | 7,523,546 | | | $ | 8,963,289 | | | $ | 3,834,314 | |
| Dividends from affiliated underlying funds | | | 438,788 | | | | — | | | | — | | | | — | |
| Interest, net of foreign taxes withheld* | | | 1,984,875 | | | | 464 | | | | 1,737,445 | | | | 303 | |
| Securities lending income, net | | | 16,428 | | | | — | | | | 41,127 | | | | 24,002 | |
| Other | | | 347 | | | | 3,622 | | | | 1,004 | | | | 956 | |
| Total investment income | | | 2,453,034 | | | | 7,527,632 | | | | 10,742,865 | | | | 3,859,575 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 325,010 | | | | 4,000,816 | | | | 951,205 | | | | 1,365,600 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 32,768 | | | | 277,997 | | | | 61,294 | | | | 250,250 | |
| Class S | | | 27,068 | | | | 150,877 | | | | 236,435 | | | | 100,904 | |
| Class S2 | | | — | | | | 5,235 | | | | 392 | | | | 3,514 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 8,198 | | | | 64,676 | | | | 9,829 | | | | 91,443 | |
| Class I | | | 46,014 | | | | 528,465 | | | | 41,376 | | | | 107,384 | |
| Class S | | | 13,543 | | | | 70,214 | | | | 75,829 | | | | 73,741 | |
| Class S2 | | | — | | | | 1,521 | | | | 78 | | | | 1,605 | |
| Shareholder reporting expense | | | 8,830 | | | | 51,690 | | | | 13,260 | | | | 5,460 | |
| Professional fees | | | 7,280 | | | | 92,640 | | | | 15,688 | | | | 10,920 | |
| Custody and accounting expense | | | 45,500 | | | | 73,160 | | | | 39,920 | | | | 45,500 | |
| Shareholder notification costs (Note 6) | | | — | | | | 15,000 | | | | — | | | | — | |
| Directors fees | | | 1,808 | | | | 16,590 | | | | 6,116 | | | | 3,640 | |
| Miscellaneous expense | | | 5,958 | | | | 61,484 | | | | 17,496 | | | | 10,583 | |
| Interest expense | | | — | | | | 4,516 | | | | 3,903 | | | | 4,323 | |
| Total expenses | | | 521,977 | | | | 5,414,881 | | | | 1,472,821 | | | | 2,074,867 | |
| Waived and reimbursed fees | | | (99,218 | ) | | | (654,425 | ) | | | — | | | | (436,004 | ) |
| Net expenses | | | 422,759 | | | | 4,760,456 | | | | 1,472,821 | | | | 1,638,863 | |
| Net investment income | | | 2,030,275 | | | | 2,767,176 | | | | 9,270,044 | | | | 2,220,712 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Investments (net of foreign capital gains taxes withheld^) | | | (442,243 | ) | | | 39,461,370 | | | | 7,820,827 | | | | 6,512,069 | |
| Forward foreign currency contracts | | | (2,049,178 | ) | | | 34,416 | | | | 3,290 | | | | 372,417 | |
| Foreign currency related transactions | | | 716,446 | | | | (213,656 | ) | | | (84,109 | ) | | | (2,324 | ) |
| Futures | | | (444,625 | ) | | | — | | | | — | | | | — | |
| Swaps | | | (7,365 | ) | | | — | | | | — | | | | — | |
| Written options | | | 250,284 | | | | — | | | | — | | | | — | |
| Net realized gain (loss) | | | (1,976,681 | ) | | | 39,282,130 | | | | 7,740,008 | | | | 6,882,162 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Investments (net of foreign capital gains taxes accrued#) | | | (969,230 | ) | | | 22,731,044 | | | | (3,757,605 | ) | | | (7,645,750 | ) |
| Affiliated underlying funds | | | (48,711 | ) | | | — | | | | — | | | | — | |
| Forward foreign currency contracts | | | (1,737,683 | ) | | | (4,078 | ) | | | — | | | | 215,794 | |
| Foreign currency related transactions | | | (11,534 | ) | | | (77,739 | ) | | | (37,145 | ) | | | (840 | ) |
| Futures | | | (671,219 | ) | | | — | | | | — | | | | — | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited) (continued)
| | | Voya
Global Bond
Portfolio | | Voya
Global
Insights
Portfolio | | Voya
International
High Dividend
Low Volatility
Portfolio | | VY® American
Century
Small-Mid
Cap Value
Portfolio |
| Swaps | | | 636,932 | | | | — | | | | — | | | | — | |
| Written options | | | (62,307 | ) | | | — | | | | — | | | | — | |
| Net change in unrealized appreciation (depreciation) | | | (2,863,752 | ) | | | 22,649,227 | | | | (3,794,750 | ) | | | (7,430,796 | ) |
| Net realized and unrealized gain (loss) | | | (4,840,433 | ) | | | 61,931,357 | | | | 3,945,258 | | | | (548,634 | ) |
| Increase (decrease) in net assets resulting from operations | | $ | (2,810,158 | ) | | $ | 64,698,533 | | | $ | 13,215,302 | | | $ | 1,672,078 | |
| | | | | | | | | | | | | | | | | | |
| * | Foreign taxes withheld | | $ | 1,698 | | | $ | 500,926 | | | $ | 1,000,454 | | | $ | 73,265 | |
| ^ | Foreign capital gains taxes withheld | | $ | — | | | $ | 489,646 | | | $ | — | | | $ | — | |
| # | Change in foreign capital gains taxes accrued | | $ | — | | | $ | 300,746 | | | $ | — | | | $ | — | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | VY®
Baron
Growth
Portfolio | | | VY®
Columbia
Contrarian Core
Portfolio | | | VY®
Columbia
Small Cap
Value II
Portfolio | | | VY®
Invesco
Comstock
Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends, net of foreign taxes withheld* | | $ | 2,683,176 | | | $ | 496,168 | | | $ | 1,438,870 | | | $ | 3,068,248 | |
| Interest | | | 1,342 | | | | 9 | | | | 11 | | | | 62 | |
| Securities lending income, net | | | — | | | | — | | | | — | | | | 5,185 | |
| Other | | | 1,507 | | | | 211 | | | | 460 | | | | 778 | |
| Total investment income | | | 2,686,025 | | | | 496,388 | | | | 1,439,341 | | | | 3,074,273 | |
| | | | | | | | | | | | | | | | | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 2,229,269 | | | | 317,462 | | | | 604,599 | | | | 849,144 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 260,782 | | | | 91,084 | | | | 59,246 | | | | 77,302 | |
| Class S | | | 253,808 | | | | 33,169 | | | | 82,613 | | | | 113,257 | |
| Class S2 | | | 4,328 | | | | — | | | | 3,249 | | | | — | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 71,766 | | | | 74 | | | | 11,894 | | | | 10,105 | |
| Class I | | | 83,389 | | | | 15 | | | | 21,453 | | | | 39,571 | |
| Class R6 | | | 19 | | | | — | | | | 15 | | | | — | |
| Class S | | | 139,694 | | | | 53 | | | | 33,170 | | | | 29,610 | |
| Class S2 | | | 1,488 | | | | — | | | | 816 | | | | — | |
| Shareholder reporting expense | | | 9,770 | | | | 3,094 | | | | 4,976 | | | | 4,988 | |
| Registration fees | | | — | | | | 203 | | | | — | | | | — | |
| Professional fees | | | 21,566 | | | | 7,644 | | | | 9,816 | | | | 11,884 | |
| Custody and accounting expense | | | 17,346 | | | | 12,740 | | | | 7,668 | | | | 13,800 | |
| Directors fees | | | 12,650 | | | | 1,820 | | | | 2,208 | | | | 3,670 | |
| Miscellaneous expense | | | 16,146 | | | | 5,810 | | | | 7,439 | | | | 8,135 | |
| Interest expense | | | 14,922 | | | | — | | | | 365 | | | | — | |
| Total expenses | | | 3,136,943 | | | | 473,168 | | | | 849,527 | | | | 1,161,466 | |
| Waived and reimbursed fees | | | (273,423 | ) | | | (99,595 | ) | | | (47,576 | ) | | | (118,064 | ) |
| Brokerage commission recapture | | | — | | | | — | | | | (8,814 | ) | | | — | |
| Net expenses | | | 2,863,520 | | | | 373,573 | | | | 793,137 | | | | 1,043,402 | |
| Net investment income (loss) | | | (177,495 | ) | | | 122,815 | | | | 646,204 | | | | 2,030,871 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Investments | | | 30,088,623 | | | | 2,329,053 | | | | 18,674,180 | | | | 20,834,414 | |
| Forward foreign currency contracts | | | — | | | | — | | | | — | | | | 132,226 | |
| Foreign currency related transactions | | | 3 | | | | — | | | | — | | | | (39,925 | ) |
| Net realized gain | | | 30,088,626 | | | | 2,329,053 | | | | 18,674,180 | | | | 20,926,715 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Investments | | | (45,901,266 | ) | | | 8,134,994 | | | | (16,327,648 | ) | | | (2,731,124 | ) |
| Forward foreign currency contracts | | | — | | | | — | | | | — | | | | 93,143 | |
| Foreign currency related transactions | | | 2 | | | | — | | | | — | | | | (351 | ) |
| Net change in unrealized appreciation (depreciation) | | | (45,901,264 | ) | | | 8,134,994 | | | | (16,327,648 | ) | | | (2,638,332 | ) |
| Net realized and unrealized gain (loss) | | | (15,812,638 | ) | | | 10,464,047 | | | | 2,346,532 | | | | 18,288,383 | |
| Increase (decrease) in net assets resulting from operations | | $ | (15,990,133 | ) | | $ | 10,586,862 | | | $ | 2,992,736 | | | $ | 20,319,254 | |
| * Foreign taxes withheld | | $ | — | | | $ | 2,630 | | | $ | 2,633 | | | $ | 43,053 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | VY®
Invesco
Equity and
Income
Portfolio | | | VY®
JPMorgan
Mid Cap
Value
Portfolio | | | VY®
T. Rowe Price
Diversified Mid Cap
Growth
Portfolio | | | VY®
T. Rowe Price
Growth Equity
Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends, net of foreign taxes withheld* | | $ | 8,105,232 | | | $ | 3,046,295 | | | $ | 3,497,745 | | | $ | 3,720,743 | |
| Interest | | | 5,463,748 | | | | 1,573 | | | | 13,336 | | | | 55,144 | |
| Securities lending income, net | | | 153,923 | | | | 58 | | | | 8,966 | | | | 13,407 | |
| Other | | | 3,195 | | | | 696 | | | | 3,300 | | | | 4,652 | |
| Total investment income | | | 13,726,098 | | | | 3,048,622 | | | | 3,523,347 | | | | 3,793,946 | |
| | | | | | | | | | | | | | | | | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 3,251,657 | | | | 1,287,778 | | | | 3,935,562 | | | | 5,250,050 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 101,100 | | | | 190,143 | | | | 168,001 | | | | 750,617 | |
| Class S | | | 390,123 | | | | 172,319 | | | | 36,516 | | | | 74,302 | |
| Class S2 | | | 493,106 | | | | 1,609 | | | | 5,523 | | | | 11,304 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 10,928 | | | | 41,889 | | | | 32,092 | | | | 114,710 | |
| Class I | | | 110,799 | | | | 48,627 | | | | 402,874 | | | | 432,423 | |
| Class R6 | | | — | | | | — | | | | 24 | | | | — | |
| Class S | | | 84,340 | | | | 75,925 | | | | 13,952 | | | | 22,748 | |
| Class S2 | | | 66,627 | | | | 443 | | | | 1,318 | | | | 2,159 | |
| Shareholder reporting expense | | | 17,967 | | | | 14,560 | | | | 24,700 | | | | 35,063 | |
| Professional fees | | | 46,655 | | | | 14,560 | | | | 42,234 | | | | 59,080 | |
| Custody and accounting expense | | | 70,710 | | | | 24,206 | | | | 34,460 | | | | 80,283 | |
| Directors fees | | | 16,016 | | | | 4,914 | | | | 14,680 | | | | 18,200 | |
| Miscellaneous expense | | | 24,011 | | | | 10,214 | | | | 24,803 | | | | 37,445 | |
| Interest expense | | | — | | | | 1,979 | | | | 810 | | | | 11,643 | |
| Total expenses | | | 4,684,039 | | | | 1,889,166 | | | | 4,737,549 | | | | 6,900,027 | |
| Waived and reimbursed fees | | | (482,434 | ) | | | (223,098 | ) | | | (350,105 | ) | | | (695,349 | ) |
| Net expenses | | | 4,201,605 | | | | 1,666,068 | | | | 4,387,444 | | | | 6,204,678 | |
| Net investment income (loss) | | | 9,524,493 | | | | 1,382,554 | | | | (864,097 | ) | | | (2,410,732 | ) |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Investments | | | 37,089,679 | | | | 13,241,513 | | | | 43,564,324 | | | | 147,820,779 | |
| Forward foreign currency contracts | | | 211,139 | | | | — | | | | — | | | | — | |
| Foreign currency related transactions | | | 735 | | | | — | | | | — | | | | 1,681 | |
| Futures | | | 31,921 | | | | — | | | | — | | | | — | |
| Net realized gain | | | 37,333,474 | | | | 13,241,513 | | | | 43,564,324 | | | | 147,822,460 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Investments | | | 4,702,533 | | | | (2,576,569 | ) | | | 41,174,815 | | | | 140,725,440 | |
| Forward foreign currency contracts | | | 275,979 | | | | — | | | | — | | | | — | |
| Foreign currency related transactions | | | (5,128 | ) | | | — | | | | — | | | | 325 | |
| Futures | | | 112,573 | | | | — | | | | — | | | | — | |
| Net change in unrealized appreciation (depreciation) | | | 5,085,957 | | | | (2,576,569 | ) | | | 41,174,815 | | | | 140,725,765 | |
| Net realized and unrealized gain | | | 42,419,431 | | | | 10,664,944 | | | | 84,739,139 | | | | 288,548,225 | |
| Increase in net assets resulting from operations | | $ | 51,943,924 | | | $ | 12,047,498 | | | $ | 83,875,042 | | | $ | 286,137,493 | |
| * Foreign taxes withheld | | $ | 98,758 | | | $ | — | | | $ | 7,568 | | | $ | 51,765 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya
Global Bond Portfolio | | | Voya Global
Insights Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 2,030,275 | | | $ | 4,127,469 | | | $ | 2,767,176 | | | $ | 291,308 | |
| Net realized gain (loss) | | | (1,976,681 | ) | | | (3,413,678 | ) | | | 39,282,130 | | | | 658,297,959 | |
| Net change in unrealized appreciation (depreciation) | | | (2,863,752 | ) | | | 5,949,618 | | | | 22,649,227 | | | | (341,533,823 | ) |
| Increase (decrease) in net assets resulting from operations | | | (2,810,158 | ) | | | 6,663,409 | | | | 64,698,533 | | | | 317,055,444 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | (253,542 | ) | | | (328,883 | ) | | | — | | | | (12,912,543 | ) |
| Class I | | | (1,608,743 | ) | | | (2,321,480 | ) | | | — | | | | (98,532,842 | ) |
| Class S | | | (446,272 | ) | | | (568,595 | ) | | | — | | | | (14,309,296 | ) |
| Class S2 | | | — | | | | — | | | | — | | | | (286,385 | ) |
| Return of capital: | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (117,703 | ) | | | — | | | | — | |
| Class I | | | — | | | | (670,532 | ) | | | — | | | | — | |
| Class S | | | — | | | | (180,277 | ) | | | — | | | | — | |
| Total distributions | | | (2,308,557 | ) | | | (4,187,470 | ) | | | — | | | | (126,041,066 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 4,282,992 | | | | 4,128,561 | | | | 2,777,861 | | | | 20,371,389 | |
| Reinvestment of distributions | | | 2,308,557 | | | | 4,187,470 | | | | — | | | | 126,041,066 | |
| | | | 6,591,549 | | | | 8,316,031 | | | | 2,777,861 | | | | 146,412,455 | |
| Cost of shares redeemed | | | (10,367,251 | ) | | | (14,858,677 | ) | | | (102,608,504 | ) | | | (209,905,930 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (3,775,702 | ) | | | (6,542,646 | ) | | | (99,830,643 | ) | | | (63,493,475 | ) |
| Net increase (decrease) in net assets | | | (8,894,417 | ) | | | (4,066,707 | ) | | | (35,132,110 | ) | | | 127,520,903 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 115,508,684 | | | | 119,575,391 | | | | 1,184,159,105 | | | | 1,056,638,202 | |
| End of year or period | | $ | 106,614,267 | | | $ | 115,508,684 | | | $ | 1,149,026,995 | | | $ | 1,184,159,105 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya
International High Dividend
Low Volatility Portfolio | | | VY® American
Century Small-Mid
Cap Value Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 9,270,044 | | | $ | 12,063,759 | | | $ | 2,220,712 | | | $ | 4,525,009 | |
| Net realized gain | | | 7,740,008 | | | | 8,395,419 | | | | 6,882,162 | | | | 10,013,720 | |
| Net change in unrealized appreciation (depreciation) | | | (3,794,750 | ) | | | 24,202,699 | | | | (7,430,796 | ) | | | 13,244,387 | |
| Increase in net assets resulting from operations | | | 13,215,302 | | | | 44,661,877 | | | | 1,672,078 | | | | 27,783,116 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (969,483 | ) | | | — | | | | (14,503,355 | ) |
| Class I | | | — | | | | (4,689,379 | ) | | | — | | | | (17,999,983 | ) |
| Class S | | | — | | | | (8,310,875 | ) | | | — | | | | (11,724,728 | ) |
| Class S2 | | | — | | | | (6,328 | ) | | | — | | | | (252,395 | ) |
| Total distributions | | | — | | | | (13,976,065 | ) | | | — | | | | (44,480,461 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 3,958,276 | | | | 6,916,567 | | | | 10,076,123 | | | | 22,039,854 | |
| Reinvestment of distributions | | | — | | | | 13,976,065 | | | | — | | | | 44,480,461 | |
| | | | 3,958,276 | | | | 20,892,632 | | | | 10,076,123 | | | | 66,520,315 | |
| Cost of shares redeemed | | | (34,949,923 | ) | | | (62,800,366 | ) | | | (36,100,167 | ) | | | (87,458,604 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (30,991,647 | ) | | | (41,907,734 | ) | | | (26,024,044 | ) | | | (20,938,289 | ) |
| Net decrease in net assets | | | (17,776,345 | ) | | | (11,221,922 | ) | | | (24,351,966 | ) | | | (37,635,634 | ) |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 324,605,638 | | | | 335,827,560 | | | | 317,791,603 | | | | 355,427,237 | |
| End of year or period | | $ | 306,829,293 | | | $ | 324,605,638 | | | $ | 293,439,637 | | | $ | 317,791,603 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | VY® Baron
Growth Portfolio | | | VY® Columbia
Contrarian Core Portfolio |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (177,495 | ) | | $ | (906,704 | ) | | $ | 122,815 | | | $ | 181,523 | |
| Net realized gain | | | 30,088,626 | | | | 21,243,966 | | | | 2,329,053 | | | | 1,696,966 | |
| Net change in unrealized appreciation (depreciation) | | | (45,901,264 | ) | | | 46,874,120 | | | | 8,134,994 | | | | 12,968,483 | |
| Increase (decrease) in net assets resulting from operations | | | (15,990,133 | ) | | | 67,211,382 | | | | 10,586,862 | | | | 14,846,972 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (7,127,554 | ) | | | — | | | | (10,045,623 | ) |
| Class I | | | — | | | | (6,599,482 | ) | | | — | | | | (2,181,053 | ) |
| Class R6 | | | — | | | | (2,056,896 | ) | | | — | | | | — | |
| Class S | | | — | | | | (12,764,976 | ) | | | — | | | | (7,275,819 | ) |
| Class S2 | | | — | | | | (146,175 | ) | | | — | | | | — | |
| Total distributions | | | — | | | | (28,695,083 | ) | | | — | | | | (19,502,495 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 6,829,951 | | | | 23,643,693 | | | | 7,349,593 | | | | 7,885,619 | |
| Reinvestment of distributions | | | — | | | | 28,695,083 | | | | — | | | | 19,502,495 | |
| | | | 6,829,951 | | | | 52,338,776 | | | | 7,349,593 | | | | 27,388,114 | |
| Cost of shares redeemed | | | (47,248,351 | ) | | | (61,357,510 | ) | | | (3,775,055 | ) | | | (5,521,192 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (40,418,400 | ) | | | (9,018,734 | ) | | | 3,574,538 | | | | 21,866,922 | |
| Net increase (decrease) in net assets | | | (56,408,533 | ) | | | 29,497,565 | | | | 14,161,400 | | | | 17,211,399 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 496,064,868 | | | | 466,567,303 | | | | 64,275,464 | | | | 47,064,065 | |
| End of year or period | | $ | 439,656,335 | | | $ | 496,064,868 | | | $ | 78,436,864 | | | $ | 64,275,464 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | VY®
Columbia Small Cap
Value II Portfolio | | | VY® Invesco
Comstock Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 646,204 | | | $ | 1,569,977 | | | $ | 2,030,871 | | | $ | 4,332,915 | |
| Net realized gain | | | 18,674,180 | | | | 11,430,387 | | | | 20,926,715 | | | | 21,514,491 | |
| Net change in unrealized appreciation (depreciation) | | | (16,327,648 | ) | | | 6,064,337 | | | | (2,638,332 | ) | | | 2,777,202 | |
| Increase in net assets resulting from operations | | | 2,992,736 | | | | 19,064,701 | | | | 20,319,254 | | | | 28,624,608 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (1,830,517 | ) | | | — | | | | (4,366,152 | ) |
| Class I | | | — | | | | (3,879,556 | ) | | | — | | | | (19,603,597 | ) |
| Class R6 | | | — | | | | (808,468 | ) | | | — | | | | — | |
| Class S | | | — | | | | (5,065,500 | ) | | | — | | | | (12,583,981 | ) |
| Class S2 | | | — | | | | (119,642 | ) | | | — | | | | — | |
| Total distributions | | | — | | | | (11,703,683 | ) | | | — | | | | (36,553,730 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 3,621,039 | | | | 18,108,707 | | | | 5,381,517 | | | | 20,234,648 | |
| Reinvestment of distributions | | | — | | | | 11,703,683 | | | | — | | | | 36,553,730 | |
| | | | 3,621,039 | | | | 29,812,390 | | | | 5,381,517 | | | | 56,788,378 | |
| Cost of shares redeemed | | | (29,297,882 | ) | | | (39,518,832 | ) | | | (52,837,068 | ) | | | (56,375,582 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (25,676,843 | ) | | | (9,706,442 | ) | | | (47,455,551 | ) | | | 412,796 | |
| Net decrease in net assets | | | (22,684,107 | ) | | | (2,345,424 | ) | | | (27,136,297 | ) | | | (7,516,326 | ) |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 153,723,540 | | | | 156,068,964 | | | | 254,515,145 | | | | 262,031,471 | |
| End of year or period | | $ | 131,039,433 | | | $ | 153,723,540 | | | $ | 227,378,848 | | | $ | 254,515,145 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | VY®
Invesco Equity and
Income Portfolio | | | VY®
JPMorgan Mid Cap
Value Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 9,524,493 | | | $ | 19,125,502 | | | $ | 1,382,554 | | | $ | 2,805,842 | |
| Net realized gain | | | 37,333,474 | | | | 69,760,939 | | | | 13,241,513 | | | | 15,125,556 | |
| Net change in unrealized appreciation (depreciation) | | | 5,085,957 | | | | 7,939,500 | | | | (2,576,569 | ) | | | 13,066,428 | |
| Increase in net assets resulting from operations | | | 51,943,924 | | | | 96,825,941 | | | | 12,047,498 | | | | 30,997,826 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (3,002,847 | ) | | | — | | | | (8,189,523 | ) |
| Class I | | | — | | | | (32,095,901 | ) | | | — | | | | (11,031,784 | ) |
| Class S | | | — | | | | (24,208,138 | ) | | | — | | | | (14,959,142 | ) |
| Class S2 | | | — | | | | (18,987,426 | ) | | | — | | | | (81,614 | ) |
| Total distributions | | | — | | | | (78,294,312 | ) | | | — | | | | (34,262,063 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 4,426,705 | | | | 12,479,116 | | | | 4,609,906 | | | | 8,443,466 | |
| Reinvestment of distributions | | | — | | | | 78,294,312 | | | | — | | | | 34,262,063 | |
| | | | 4,426,705 | | | | 90,773,428 | | | | 4,609,906 | | | | 42,705,529 | |
| Cost of shares redeemed | | | (92,681,941 | ) | | | (161,030,113 | ) | | | (42,582,883 | ) | | | (68,183,635 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (88,255,236 | ) | | | (70,256,685 | ) | | | (37,972,977 | ) | | | (25,478,106 | ) |
| Net decrease in net assets | | | (36,311,312 | ) | | | (51,725,056 | ) | | | (25,925,479 | ) | | | (28,742,343 | ) |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 1,027,528,642 | | | | 1,079,253,698 | | | | 312,466,800 | | | | 341,209,143 | |
| End of year or period | | $ | 991,217,330 | | | $ | 1,027,528,642 | | | $ | 286,541,321 | | | $ | 312,466,800 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | VY®
T. Rowe Price Diversified Mid Cap
Growth Portfolio | | | VY® T. Rowe Price
Growth Equity Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment loss | | $ | (864,097 | ) | | $ | (11,714 | ) | | $ | (2,410,732 | ) | | $ | (3,782,296 | ) |
| Net realized gain | | | 43,564,324 | | | | 111,592,206 | | | | 147,822,460 | | | | 158,228,133 | |
| Net change in unrealized appreciation (depreciation) | | | 41,174,815 | | | | 80,904,848 | | | | 140,725,765 | | | | 368,664,117 | |
| Increase in net assets resulting from operations | | | 83,875,042 | | | | 192,485,340 | | | | 286,137,493 | | | | 523,109,954 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (107,713 | ) | | | — | | | | (5,190,346 | ) |
| Class I | | | — | | | | (1,166,965 | ) | | | — | | | | (18,136,947 | ) |
| Class R6 | | | — | | | | (147,085 | ) | | | — | | | | — | |
| Class S | | | — | | | | (42,748 | ) | | | — | | | | (915,312 | ) |
| Class S2 | | | — | | | | (4,426 | ) | | | — | | | | (91,490 | ) |
| Total distributions | | | — | | | | (1,468,937 | ) | | | — | | | | (24,334,095 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 43,188,088 | | | | 31,167,776 | | | | 22,982,074 | | | | 96,784,357 | |
| Reinvestment of distributions | | | — | | | | 1,468,937 | | | | — | | | | 24,334,095 | |
| | | | 43,188,088 | | | | 32,636,713 | | | | 22,982,074 | | | | 121,118,452 | |
| Cost of shares redeemed | | | (94,677,829 | ) | | | (195,626,075 | ) | | | (185,204,406 | ) | | | (376,903,651 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (51,489,741 | ) | | | (162,989,362 | ) | | | (162,222,332 | ) | | | (255,785,199 | ) |
| Net increase in net assets | | | 32,385,301 | | | | 28,027,041 | | | | 123,915,161 | | | | 242,990,660 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 1,041,848,617 | | | | 1,013,821,576 | | | | 1,454,344,967 | | | | 1,211,354,307 | |
| End of year or period | | $ | 1,074,233,918 | | | $ | 1,041,848,617 | | | $ | 1,578,260,128 | | | $ | 1,454,344,967 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Global Bond Portfolio(5) |
| Class ADV | | | | |
| 06-30-24+ | | | 8.22 | | | 0.13 | • | | (0.35 | ) | | | (0.22 | ) | | 0.15 | | | — | | | — | | | 0.15 | | | — | | | 7.85 | | | (2.64 | ) | | | 1.35 | | | 1.17 | | | 1.17 | | | 3.36 | | | 12,949 | | | 70 | |
| 12-31-23 | | | 8.04 | | | 0.25 | • | | 0.19 | | | | 0.44 | | | 0.19 | | | — | | | 0.07 | | | 0.26 | | | — | | | 8.22 | | | 5.62 | | | | 1.35 | | | 1.17 | | | 1.17 | | | 3.18 | | | 13,790 | | | 264 | |
| 12-31-22 | | | 10.13 | | | 0.21 | • | | (2.10 | ) | | | (1.89 | ) | | — | | | — | | | 0.20 | | | 0.20 | | | — | | | 8.04 | | | (18.75 | ) | | | 1.31 | | | 1.17 | | | 1.17 | | | 2.38 | | | 14,350 | | | 194 | |
| 12-31-21 | | | 11.28 | | | 0.27 | • | | (0.85 | ) | | | (0.58 | ) | | 0.49 | | | — | | | 0.08 | | | 0.57 | | | — | | | 10.13 | | | (5.21 | ) | | | 1.30 | | | 1.17 | | | 1.17 | | | 2.54 | | | 19,156 | | | 144 | |
| 12-31-20 | | | 10.64 | | | 0.28 | | | 0.62 | | | | 0.90 | | | 0.26 | | | — | | | — | | | 0.26 | | | — | | | 11.28 | | | 8.58 | | | | 1.28 | | | 1.17 | | | 1.17 | | | 2.50 | | | 21,097 | | | 150 | |
| 12-31-19 | | | 10.33 | | | 0.27 | • | | 0.48 | | | | 0.75 | | | 0.44 | | | — | | | — | | | 0.44 | | | — | | | 10.64 | | | 7.36 | | | | 1.16 | | | 1.16 | | | 1.16 | | | 2.58 | | | 21,661 | | | 228 | |
| Class I | | | | |
| 06-30-24+ | | | 8.38 | | | 0.16 | • | | (0.36 | ) | | | (0.20 | ) | | 0.18 | | | — | | | — | | | 0.18 | | | — | | | 8.00 | | | (2.43 | ) | | | 0.85 | | | 0.67 | | | 0.67 | | | 3.86 | | | 70,578 | | | 70 | |
| 12-31-23 | | | 8.19 | | | 0.34 | • | | 0.16 | | | | 0.50 | | | 0.24 | | | — | | | 0.07 | | | 0.31 | | | — | | | 8.38 | | | 6.24 | | | | 0.85 | | | 0.67 | | | 0.67 | | | 4.20 | | | 79,766 | | | 264 | |
| 12-31-22 | | | 10.32 | | | 0.25 | • | | (2.13 | ) | | | (1.88 | ) | | — | | | — | | | 0.25 | | | 0.25 | | | — | | | 8.19 | | | (18.35 | ) | | | 0.81 | | | 0.67 | | | 0.67 | | | 2.88 | | | 83,034 | | | 194 | |
| 12-31-21 | | | 11.49 | | | 0.33 | • | | (0.87 | ) | | | (0.54 | ) | | 0.55 | | | — | | | 0.08 | | | 0.63 | | | — | | | 10.32 | | | (4.78 | ) | | | 0.80 | | | 0.67 | | | 0.67 | | | 3.04 | | | 110,162 | | | 144 | |
| 12-31-20 | | | 10.83 | | | 0.33 | • | | 0.64 | | | | 0.97 | | | 0.31 | | | — | | | — | | | 0.31 | | | — | | | 11.49 | | | 9.20 | | | | 0.78 | | | 0.67 | | | 0.67 | | | 3.00 | | | 125,244 | | | 150 | |
| 12-31-19 | | | 10.51 | | | 0.33 | • | | 0.49 | | | | 0.82 | | | 0.50 | | | — | | | — | | | 0.50 | | | — | | | 10.83 | | | 7.90 | | | | 0.66 | | | 0.66 | | | 0.66 | | | 3.08 | | | 146,354 | | | 228 | |
| Class S | | | | |
| 06-30-24+ | | | 8.37 | | | 0.14 | • | | (0.35 | ) | | | (0.21 | ) | | 0.17 | | | — | | | — | | | 0.17 | | | — | | | 7.99 | | | (2.56 | ) | | | 1.10 | | | 0.92 | | | 0.92 | | | 3.60 | | | 23,087 | | | 70 | |
| 12-31-23 | | | 8.18 | | | 0.12 | • | | 0.36 | | | | 0.48 | | | 0.22 | | | — | | | 0.07 | | | 0.29 | | | — | | | 8.37 | | | 5.97 | | | | 1.10 | | | 0.92 | | | 0.92 | | | 1.51 | | | 21,952 | | | 264 | |
| 12-31-22 | | | 10.30 | | | 0.23 | • | | (2.12 | ) | | | (1.89 | ) | | — | | | — | | | 0.23 | | | 0.23 | | | — | | | 8.18 | | | (18.49 | ) | | | 1.06 | | | 0.92 | | | 0.92 | | | 2.63 | | | 22,191 | | | 194 | |
| 12-31-21 | | | 11.47 | | | 0.30 | • | | (0.87 | ) | | | (0.57 | ) | | 0.52 | | | — | | | 0.08 | | | 0.60 | | | — | | | 10.30 | | | (5.03 | ) | | | 1.05 | | | 0.92 | | | 0.92 | | | 2.79 | | | 29,562 | | | 144 | |
| 12-31-20 | | | 10.82 | | | 0.31 | | | 0.63 | | | | 0.94 | | | 0.29 | | | — | | | — | | | 0.29 | | | — | | | 11.47 | | | 8.85 | | | | 1.03 | | | 0.92 | | | 0.92 | | | 2.75 | | | 33,183 | | | 150 | |
| 12-31-19 | | | 10.50 | | | 0.31 | • | | 0.48 | | | | 0.79 | | | 0.47 | | | — | | | — | | | 0.47 | | | — | | | 10.82 | | | 7.64 | | | | 0.91 | | | 0.91 | | | 0.91 | | | 2.83 | | | 33,323 | | | 228 | |
| Voya Global Insights Portfolio | | | | |
| Class ADV | | | | |
| 06-30-24+ | | | 16.32 | | | 0.01 | • | | 0.91 | | | | 0.92 | | | — | | | — | | | — | | | — | | | — | | | 17.24 | | | 5.57 | | | | 1.37 | | | 1.26 | | | 1.26 | | | 0.06 | | | 112,517 | | | 77 | |
| 12-31-23 | | | 13.99 | | | (0.06 | )• | | 4.40 | | | | 4.34 | | | — | | | 2.01 | | | — | | | 2.01 | | | — | | | 16.32 | | | 31.96 | | | | 1.36 | | | 1.30 | | | 1.30 | | | (0.41 | ) | | 114,505 | | | 107 | |
| 12-31-22 | | | 24.55 | | | (0.06 | )• | | (7.57 | ) | | | (7.63 | ) | | — | | | 2.93 | | | — | | | 2.93 | | | — | | | 13.99 | | | (32.28 | ) | | | 1.35 | | | 1.30 | | | 1.30 | | | (0.38 | ) | | 93,472 | | | 13 | |
| 12-31-21 | | | 22.38 | | | (0.19 | )• | | 3.51 | | | | 3.32 | | | — | | | 1.15 | | | — | | | 1.15 | | | — | | | 24.55 | | | 14.80 | | | | 1.33 | | | 1.30 | | | 1.30 | | | (0.80 | ) | | 149,741 | | | 7 | |
| 12-31-20 | | | 18.41 | | | (0.10 | )• | | 4.91 | | | | 4.81 | | | 0.13 | | | 0.71 | | | — | | | 0.84 | | | — | | | 22.38 | | | 27.19 | | | | 1.35 | | | 1.30 | | | 1.30 | | | (0.53 | ) | | 131,946 | | | 8 | |
| 12-31-19 | | | 17.06 | | | 0.04 | | | 4.89 | | | | 4.93 | | | — | | | 3.58 | | | — | | | 3.58 | | | — | | | 18.41 | | | 31.10 | | | | 1.25 | | | 1.25 | | | 1.25 | | | 0.26 | | | 123,467 | | | 8 | |
| Class I | | | | |
| 06-30-24+ | | | 17.99 | | | 0.05 | • | | 1.01 | | | | 1.06 | | | — | | | — | | | — | | | — | | | — | | | 19.05 | | | 5.78 | | | | 0.87 | | | 0.76 | | | 0.76 | | | 0.56 | | | 914,701 | | | 77 | |
| 12-31-23 | | | 15.20 | | | 0.02 | • | | 4.79 | | | | 4.81 | | | 0.01 | | | 2.01 | | | — | | | 2.02 | | | — | | | 17.99 | | | 32.54 | | | | 0.86 | | | 0.80 | | | 0.80 | | | 0.10 | | | 940,045 | | | 107 | |
| 12-31-22 | | | 26.21 | | | 0.02 | • | | (8.10 | ) | | | (8.08 | ) | | — | | | 2.93 | | | — | | | 2.93 | | | — | | | 15.20 | | | (31.93 | ) | | | 0.85 | | | 0.80 | | | 0.80 | | | 0.12 | | | 852,916 | | | 13 | |
| 12-31-21 | | | 23.71 | | | (0.08 | )• | | 3.73 | | | | 3.65 | | | — | | | 1.15 | | | — | | | 1.15 | | | — | | | 26.21 | | | 15.37 | | | | 0.83 | | | 0.80 | | | 0.80 | | | (0.30 | ) | | 1,381,312 | | | 7 | |
| 12-31-20 | | | 19.46 | | | (0.01 | )• | | 5.20 | | | | 5.19 | | | 0.23 | | | 0.71 | | | — | | | 0.94 | | | — | | | 23.71 | | | 27.78 | | | | 0.85 | | | 0.80 | | | 0.80 | | | (0.03 | ) | | 1,332,750 | | | 8 | |
| 12-31-19 | | | 17.86 | | | 0.15 | | | 5.13 | | | | 5.28 | | | 0.10 | | | 3.58 | | | — | | | 3.68 | | | — | | | 19.46 | | | 31.80 | | | | 0.75 | | | 0.75 | | | 0.75 | | | 0.76 | | | 1,225,197 | | | 8 | |
| Class S | | | | |
| 06-30-24+ | | | 16.66 | | | 0.03 | • | | 0.93 | | | | 0.96 | | | — | | | — | | | — | | | — | | | — | | | 17.62 | | | 5.64 | | | | 1.12 | | | 1.01 | | | 1.01 | | | 0.31 | | | 119,048 | | | 77 | |
| 12-31-23 | | | 14.22 | | | (0.02 | )• | | 4.47 | | | | 4.45 | | | — | | | 2.01 | | | — | | | 2.01 | | | — | | | 16.66 | | | 32.24 | | | | 1.11 | | | 1.05 | | | 1.05 | | | (0.15 | ) | | 127,024 | | | 107 | |
| 12-31-22 | | | 24.83 | | | (0.02 | )• | | (7.66 | ) | | | (7.68 | ) | | — | | | 2.93 | | | — | | | 2.93 | | | — | | | 14.22 | | | (32.10 | ) | | | 1.10 | | | 1.05 | | | 1.05 | | | (0.13 | ) | | 108,045 | | | 13 | |
| 12-31-21 | | | 22.56 | | | (0.13 | )• | | 3.55 | | | | 3.42 | | | — | | | 1.15 | | | — | | | 1.15 | | | — | | | 24.83 | | | 15.13 | | | | 1.08 | | | 1.05 | | | 1.05 | | | (0.55 | ) | | 185,986 | | | 7 | |
| 12-31-20 | | | 18.56 | | | (0.05 | )• | | 4.94 | | | | 4.89 | | | 0.18 | | | 0.71 | | | — | | | 0.89 | | | — | | | 22.56 | | | 27.43 | | | | 1.10 | | | 1.05 | | | 1.05 | | | (0.28 | ) | | 188,985 | | | 8 | |
| 12-31-19 | | | 17.17 | | | 0.10 | | | 4.91 | | | | 5.01 | | | 0.04 | | | 3.58 | | | — | | | 3.62 | | | — | | | 18.56 | | | 31.44 | | | | 1.00 | | | 1.00 | | | 1.00 | | | 0.52 | | | 181,045 | | | 8 | |
| Class S2 | | | | |
| 06-30-24+ | | | 15.73 | | | 0.01 | • | | 0.88 | | | | 0.89 | | | — | | | — | | | — | | | — | | | — | | | 16.62 | | | 5.52 | | | | 1.27 | | | 1.16 | | | 1.16 | | | 0.17 | | | 2,761 | | | 77 | |
| 12-31-23 | | | 13.53 | | | (0.05 | )• | | 4.26 | | | | 4.21 | | | — | | | 2.01 | | | — | | | 2.01 | | | — | | | 15.73 | | | 32.10 | | | | 1.26 | | | 1.20 | | | 1.20 | | | (0.31 | ) | | 2,586 | | | 107 | |
| 12-31-22 | | | 23.85 | | | (0.04 | )• | | (7.35 | ) | | | (7.39 | ) | | — | | | 2.93 | | | — | | | 2.93 | | | — | | | 13.53 | | | (32.21 | ) | | | 1.25 | | | 1.20 | | | 1.20 | | | (0.27 | ) | | 2,205 | | | 13 | |
| 12-31-21 | | | 21.75 | | | (0.16 | )• | | 3.41 | | | | 3.25 | | | — | | | 1.15 | | | — | | | 1.15 | | | — | | | 23.85 | | | 14.91 | | | | 1.23 | | | 1.20 | | | 1.20 | | | (0.69 | ) | | 4,152 | | | 7 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Global Insights Portfolio (continued) |
| Class S2 (continued) | | | | |
| 12-31-20 | | | 17.89 | | | (0.07 | )• | | 4.77 | | | | 4.70 | | | 0.13 | | | 0.71 | | | — | | | 0.84 | | | — | | | 21.75 | | | 27.33 | | | | 1.25 | | | 1.20 | | | 1.20 | | | (0.42 | ) | | 4,266 | | | 8 | |
| 12-31-19 | | | 16.67 | | | 0.06 | | | 4.77 | | | | 4.83 | | | 0.03 | | | 3.58 | | | — | | | 3.61 | | | — | | | 17.89 | | | 31.26 | | | | 1.15 | | | 1.15 | | | 1.15 | | | 0.37 | | | 4,611 | | | 8 | |
| Voya International High Dividend Low Volatility Portfolio | | | | |
| Class ADV | | | | |
| 06-30-24+ | | | 9.81 | | | 0.28 | • | | 0.12 | | | | 0.40 | | | — | | | — | | | — | | | — | | | — | | | 10.21 | | | 4.08 | | | | 1.24 | | | 1.24 | | | 1.24 | | | 5.58 | | | 24,924 | | | 35 | |
| 12-31-23 | | | 8.95 | | | 0.32 | • | | 0.93 | | | | 1.25 | | | 0.39 | | | — | | | — | | | 0.39 | | | — | | | 9.81 | | | 14.24 | | | | 1.24 | | | 1.24 | | | 1.24 | | | 3.38 | | | 24,515 | | | 73 | |
| 12-31-22 | | | 10.31 | | | 0.31 | • | | (1.28 | ) | | | (0.97 | ) | | 0.39 | | | — | | | — | | | 0.39 | | | — | | | 8.95 | | | (9.34 | ) | | | 1.22 | | | 1.22 | | | 1.22 | | | 3.39 | | | 24,167 | | | 67 | |
| 12-31-21 | | | 9.43 | | | 0.28 | • | | 0.80 | | | | 1.08 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 10.31 | | | 11.50 | | | | 1.23 | | | 1.23 | | | 1.23 | | | 2.75 | | | 27,021 | | | 73 | |
| 12-31-20 | | | 11.36 | | | 0.19 | | | (0.49 | ) | | | (0.30 | ) | | 0.32 | | | 1.31 | | | — | | | 1.63 | | | — | | | 9.43 | | | (1.17 | ) | | | 1.24 | | | 1.24 | | | 1.24 | | | 1.86 | | | 26,702 | | | 74 | |
| 12-31-19 | | | 10.88 | | | 0.27 | • | | 1.38 | | | | 1.65 | | | 0.19 | | | 0.98 | | | — | | | 1.17 | | | — | | | 11.36 | | | 16.13 | | | | 1.30 | | | 1.26 | | | 1.25 | | | 2.36 | | | 29,900 | | | 143 | |
| Class I | | | | |
| 06-30-24+ | | | 9.94 | | | 0.31 | • | | 0.11 | | | | 0.42 | | | — | | | — | | | — | | | — | | | — | | | 10.36 | | | 4.23 | | | | 0.74 | | | 0.74 | | | 0.74 | | | 6.02 | | | 101,630 | | | 35 | |
| 12-31-23 | | | 9.06 | | | 0.37 | • | | 0.95 | | | | 1.32 | | | 0.44 | | | — | | | — | | | 0.44 | | | — | | | 9.94 | | | 14.87 | | | | 0.74 | | | 0.74 | | | 0.74 | | | 3.87 | | | 106,170 | | | 73 | |
| 12-31-22 | | | 10.44 | | | 0.36 | • | | (1.30 | ) | | | (0.94 | ) | | 0.44 | | | — | | | — | | | 0.44 | | | — | | | 9.06 | | | (8.90 | ) | | | 0.72 | | | 0.72 | | | 0.72 | | | 3.92 | | | 107,060 | | | 67 | |
| 12-31-21 | | | 9.54 | | | 0.33 | • | | 0.82 | | | | 1.15 | | | 0.25 | | | — | | | — | | | 0.25 | | | — | | | 10.44 | | | 12.08 | | | | 0.73 | | | 0.73 | | | 0.73 | | | 3.25 | | | 125,719 | | | 73 | |
| 12-31-20 | | | 11.49 | | | 0.25 | | | (0.51 | ) | | | (0.26 | ) | | 0.38 | | | 1.31 | | | — | | | 1.69 | | | — | | | 9.54 | | | (0.71 | ) | | | 0.74 | | | 0.74 | | | 0.74 | | | 2.37 | | | 122,082 | | | 74 | |
| 12-31-19 | | | 11.00 | | | 0.33 | • | | 1.40 | | | | 1.73 | | | 0.26 | | | 0.98 | | | — | | | 1.24 | | | — | | | 11.49 | | | 16.75 | | | | 0.80 | | | 0.76 | | | 0.75 | | | 2.86 | | | 139,862 | | | 143 | |
| Class S | | | | |
| 06-30-24+ | | | 9.87 | | | 0.29 | • | | 0.12 | | | | 0.41 | | | — | | | — | | | — | | | — | | | — | | | 10.28 | | | 4.15 | | | | 0.99 | | | 0.99 | | | 0.99 | | | 5.78 | | | 180,074 | | | 35 | |
| 12-31-23 | | | 9.00 | | | 0.34 | • | | 0.94 | | | | 1.28 | | | 0.41 | | | — | | | — | | | 0.41 | | | — | | | 9.87 | | | 14.52 | | | | 0.99 | | | 0.99 | | | 0.99 | | | 3.62 | | | 193,729 | | | 73 | |
| 12-31-22 | | | 10.36 | | | 0.34 | • | | (1.29 | ) | | | (0.95 | ) | | 0.41 | | | — | | | — | | | 0.41 | | | — | | | 9.00 | | | (9.07 | ) | | | 0.97 | | | 0.97 | | | 0.97 | | | 3.68 | | | 204,207 | | | 67 | |
| 12-31-21 | | | 9.47 | | | 0.30 | • | | 0.82 | | | | 1.12 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 10.36 | | | 11.79 | | | | 0.98 | | | 0.98 | | | 0.98 | | | 3.00 | | | 258,075 | | | 73 | |
| 12-31-20 | | | 11.41 | | | 0.22 | | | (0.50 | ) | | | (0.28 | ) | | 0.35 | | | 1.31 | | | — | | | 1.66 | | | — | | | 9.47 | | | (0.94 | ) | | | 0.99 | | | 0.99 | | | 0.99 | | | 2.12 | | | 268,402 | | | 74 | |
| 12-31-19 | | | 10.93 | | | 0.30 | • | | 1.38 | | | | 1.68 | | | 0.22 | | | 0.98 | | | — | | | 1.20 | | | — | | | 11.41 | | | 16.40 | | | | 1.05 | | | 1.01 | | | 1.00 | | | 2.61 | | | 308,132 | | | 143 | |
| Class S2 | | | | |
| 06-30-24+ | | | 10.01 | | | 0.29 | • | | 0.13 | | | | 0.42 | | | — | | | — | | | — | | | — | | | — | | | 10.43 | | | 4.20 | | | | 1.14 | | | 1.14 | | | 1.14 | | | 5.72 | | | 201 | | | 35 | |
| 12-31-23 | | | 9.08 | | | 0.30 | • | | 0.98 | | | | 1.28 | | | 0.35 | | | — | | | — | | | 0.35 | | | — | | | 10.01 | | | 14.29 | | | | 1.14 | | | 1.14 | | | 1.14 | | | 3.12 | | | 192 | | | 73 | |
| 12-31-22 | | | 10.47 | | | 0.32 | • | | (1.30 | ) | | | (0.98 | ) | | 0.41 | | | — | | | — | | | 0.41 | | | — | | | 9.08 | | | (9.30 | ) | | | 1.12 | | | 1.12 | | | 1.12 | | | 3.50 | | | 394 | | | 67 | |
| 12-31-21 | | | 9.56 | | | 0.29 | • | | 0.82 | | | | 1.11 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 10.47 | | | 11.67 | | | | 1.13 | | | 1.13 | | | 1.13 | | | 2.85 | | | 390 | | | 73 | |
| 12-31-20 | | | 11.52 | | | 0.18 | • | | (0.48 | ) | | | (0.30 | ) | | 0.35 | | | 1.31 | | | — | | | 1.66 | | | — | | | 9.56 | | | (1.15 | ) | | | 1.14 | | | 1.14 | | | 1.14 | | | 1.92 | | | 334 | | | 74 | |
| 12-31-19 | | | 10.99 | | | 0.27 | • | | 1.41 | | | | 1.68 | | | 0.17 | | | 0.98 | | | — | | | 1.15 | | | — | | | 11.52 | | | 16.28 | | | | 1.20 | | | 1.16 | | | 1.15 | | | 2.39 | | | 389 | | | 143 | |
| VY® American Century Small-Mid Cap Value Portfolio | | | | |
| Class ADV | | | | |
| 06-30-24+ | | | 10.03 | | | 0.06 | • | | (0.02 | ) | | | 0.04 | | | — | | | — | | | — | | | — | | | — | | | 10.07 | | | 0.40 | | | | 1.65 | | | 1.36 | | | 1.36 | | | 1.23 | | | 99,503 | | | 25 | |
| 12-31-23 | | | 10.82 | | | 0.12 | • | | 0.76 | | | | 0.88 | | | 0.21 | | | 1.46 | | | — | | | 1.67 | | | — | | | 10.03 | | | 8.52 | | | | 1.64 | | | 1.35 | | | 1.35 | | | 1.16 | | | 101,672 | | | 46 | |
| 12-31-22 | | | 14.21 | | | 0.12 | • | | (0.91 | ) | | | (0.79 | ) | | 0.14 | | | 2.46 | | | — | | | 2.60 | | | — | | | 10.82 | | | (5.85 | ) | | | 1.81 | | | 1.35 | | | 1.35 | | | 1.01 | | | 98,642 | | | 66 | |
| 12-31-21 | | | 11.27 | | | 0.09 | • | | 2.94 | | | | 3.03 | | | 0.09 | | | — | | | — | | | 0.09 | | | — | | | 14.21 | | | 26.94 | | | | 1.80 | | | 1.35 | | | 1.35 | | | 0.67 | | | 110,892 | | | 55 | |
| 12-31-20 | | | 11.12 | | | 0.11 | | | 0.22 | | | | 0.33 | | | 0.12 | | | 0.06 | | | — | | | 0.18 | | | — | | | 11.27 | | | 3.35 | | | | 1.86 | | | 1.35 | | | 1.35 | | | 0.92 | | | 96,609 | | | 70 | |
| 12-31-19 | | | 9.64 | | | 0.11 | | | 2.66 | | | | 2.77 | | | 0.12 | | | 1.17 | | | — | | | 1.29 | | | — | | | 11.12 | | | 30.17 | | | | 1.66 | | | 1.34 | | | 1.34 | | | 0.99 | | | 108,460 | | | 52 | |
| Class I | | | | |
| 06-30-24+ | | | 11.20 | | | 0.10 | • | | (0.02 | ) | | | 0.08 | | | — | | | — | | | — | | | — | | | — | | | 11.28 | | | 0.72 | | | | 1.15 | | | 0.86 | | | 0.86 | | | 1.71 | | | 113,350 | | | 25 | |
| 12-31-23 | | | 11.90 | | | 0.19 | • | | 0.84 | | | | 1.03 | | | 0.27 | | | 1.46 | | | — | | | 1.73 | | | — | | | 11.20 | | | 9.09 | | | | 1.14 | | | 0.85 | | | 0.85 | | | 1.63 | | | 128,382 | | | 46 | |
| 12-31-22 | | | 15.36 | | | 0.20 | • | | (0.99 | ) | | | (0.79 | ) | | 0.21 | | | 2.46 | | | — | | | 2.67 | | | — | | | 11.90 | | | (5.38 | ) | | | 1.31 | | | 0.85 | | | 0.85 | | | 1.51 | | | 165,702 | | | 66 | |
| 12-31-21 | | | 12.16 | | | 0.17 | • | | 3.17 | | | | 3.34 | | | 0.14 | | | — | | | — | | | 0.14 | | | — | | | 15.36 | | | 27.57 | | | | 1.30 | | | 0.85 | | | 0.85 | | | 1.17 | | | 186,365 | | | 55 | |
| 12-31-20 | | | 11.99 | | | 0.16 | | | 0.25 | | | | 0.41 | | | 0.18 | | | 0.06 | | | — | | | 0.24 | | | — | | | 12.16 | | | 3.84 | | | | 1.36 | | | 0.85 | | | 0.85 | | | 1.42 | | | 161,201 | | | 70 | |
| 12-31-19 | | | 10.30 | | | 0.17 | | | 2.87 | | | | 3.04 | | | 0.18 | | | 1.17 | | | — | | | 1.35 | | | — | | | 11.99 | | | 30.96 | | | | 1.16 | | | 0.84 | | | 0.84 | | | 1.49 | | | 175,917 | | | 52 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | | Income (loss)
from investment operations | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | Supplemental
Data |
| Year or | | | Net asset value, beginning of year or period | | | Net investment income (loss) | | | Net realized and unrealized gain (loss) | | | Total
from investment operations | | | From
net investment income | | | From net realized gains | | | From return of capital | | | Total distributions | | | Payment by affiliate | | | Net asset value, end of year or period | | | Total Return(1) | | | Expenses before reductions/
additions
(2)(3)(4) | | | Expenses net of fee waivers and/or recoupments if any
(2)(3)(4) | | | Expenses net of all reductions/
additions
(2)(3)(4) | | | Net investment income (loss)(2)(3) | | | Net assets, end of year or period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® American Century Small-Mid Cap Value Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.93 | | | 0.08 | • | | (0.02 | ) | | 0.06 | | | — | | | — | | | — | | | — | | | — | | | 10.99 | | | 0.55 | | | 1.40 | | | 1.11 | | | 1.11 | | | 1.47 | | | 78,830 | | | 25 | |
| 12-31-23 | | | 11.65 | | | 0.16 | • | | 0.82 | | | 0.98 | | | 0.24 | | | 1.46 | | | — | | | 1.70 | | | — | | | 10.93 | | | 8.77 | | | 1.39 | | | 1.10 | | | 1.10 | | | 1.41 | | | 85,925 | | | 46 | |
| 12-31-22 | | | 15.09 | | | 0.17 | • | | (0.98 | ) | | (0.81 | ) | | 0.17 | | | 2.46 | | | — | | | 2.63 | | | — | | | 11.65 | | | (5.60 | ) | | 1.56 | | | 1.10 | | | 1.10 | | | 1.26 | | | 89,431 | | | 66 | |
| 12-31-21 | | | 11.95 | | | 0.13 | • | | 3.13 | | | 3.26 | | | 0.12 | | | — | | | — | | | 0.12 | | | — | | | 15.09 | | | 27.30 | | | 1.55 | | | 1.10 | | | 1.10 | | | 0.92 | | | 100,022 | | | 55 | |
| 12-31-20 | | | 11.79 | | | 0.13 | | | 0.24 | | | 0.37 | | | 0.15 | | | 0.06 | | | — | | | 0.21 | | | — | | | 11.95 | | | 3.52 | | | 1.61 | | | 1.10 | | | 1.10 | | | 1.17 | | | 85,902 | | | 70 | |
| 12-31-19 | | | 10.14 | | | 0.15 | | | 2.81 | | | 2.96 | | | 0.14 | | | 1.17 | | | — | | | 1.31 | | | — | | | 11.79 | | | 30.67 | | | 1.41 | | | 1.09 | | | 1.09 | | | 1.24 | | | 93,230 | | | 52 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.04 | | | 0.07 | • | | (0.02 | ) | | 0.05 | | | — | | | — | | | — | | | — | | | — | | | 10.09 | | | 0.50 | | | 1.55 | | | 1.26 | | | 1.26 | | | 1.32 | | | 1,763 | | | 25 | |
| 12-31-23 | | | 10.83 | | | 0.13 | • | | 0.76 | | | 0.89 | | | 0.22 | | | 1.46 | | | — | | | 1.68 | | | — | | | 10.04 | | | 8.59 | | | 1.54 | | | 1.25 | | | 1.25 | | | 1.27 | | | 1,812 | | | 46 | |
| 12-31-22 | | | 14.22 | | | 0.13 | • | | (0.92 | ) | | (0.79 | ) | | 0.14 | | | 2.46 | | | — | | | 2.60 | | | — | | | 10.83 | | | (5.77 | ) | | 1.71 | | | 1.25 | | | 1.25 | | | 1.08 | | | 1,653 | | | 66 | |
| 12-31-21 | | | 11.26 | | | 0.10 | • | | 2.95 | | | 3.05 | | | 0.09 | | | — | | | — | | | 0.09 | | | — | | | 14.22 | | | 27.11 | | | 1.70 | | | 1.25 | | | 1.25 | | | 0.74 | | | 2,415 | | | 55 | |
| 12-31-20 | | | 11.12 | | | 0.10 | • | | 0.23 | | | 0.33 | | | 0.13 | | | 0.06 | | | — | | | 0.19 | | | — | | | 11.26 | | | 3.40 | | | 1.76 | | | 1.25 | | | 1.25 | | | 1.02 | | | 3,328 | | | 70 | |
| 12-31-19 | | | 9.62 | | | 0.12 | • | | 2.67 | | | 2.79 | | | 0.12 | | | 1.17 | | | — | | | 1.29 | | | — | | | 11.12 | | | 30.42 | | | 1.56 | | | 1.24 | | | 1.24 | | | 1.07 | | | 3,271 | | | 52 | |
| VY® Baron Growth Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 20.39 | | | (0.04 | )• | | (0.69 | ) | | (0.73 | ) | | — | | | — | | | — | | | — | | | — | | | 19.66 | | | (3.58 | ) | | 1.63 | | | 1.50 | | | 1.50 | | | (0.35 | ) | | 98,731 | | | 0 | |
| 12-31-23 | | | 19.05 | | | (0.09 | )• | | 2.82 | | | 2.73 | | | — | | | 1.39 | | | — | | | 1.39 | | | — | | | 20.39 | | | 14.56 | | | 1.62 | | | 1.50 | | | 1.50 | | | (0.47 | ) | | 107,138 | | | 1 | |
| 12-31-22 | | | 28.60 | | | (0.10 | )• | | (6.63 | ) | | (6.73 | ) | | — | | | 2.82 | | | — | | | 2.82 | | | — | | | 19.05 | | | (23.90 | ) | | 1.59 | | | 1.49 | | | 1.49 | | | (0.46 | ) | | 99,639 | | | 1 | |
| 12-31-21 | | | 25.98 | | | (0.22 | )• | | 5.28 | | | 5.06 | | | — | | | 2.44 | | | — | | | 2.44 | | | — | | | 28.60 | | | 20.14 | | | 1.59 | | | 1.49 | | | 1.49 | | | (0.82 | ) | | 140,345 | | | 1 | |
| 12-31-20 | | | 19.55 | | | (0.17 | ) | | 6.60 | | | 6.43 | | | — | | | — | | | — | | | — | | | — | | | 25.98 | | | 32.89 | | | 1.64 | | | 1.49 | | | 1.49 | | | (0.80 | ) | | 122,298 | | | 1 | |
| 12-31-19 | | | 24.63 | | | (0.07 | ) | | 9.03 | | | 8.96 | | | — | | | 13.89 | | | 0.15 | | | 14.04 | | | — | | | 19.55 | | | 38.24 | | | 1.49 | | | 1.49 | | | 1.49 | | | (0.40 | ) | | 105,271 | | | 23 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 26.60 | | | 0.02 | • | | (0.91 | ) | | (0.89 | ) | | — | | | — | | | — | | | — | | | — | | | 25.71 | | | (3.35 | ) | | 1.13 | | | 1.00 | | | 1.00 | | | 0.15 | | | 112,276 | | | 0 | |
| 12-31-23 | | | 24.36 | | | 0.01 | • | | 3.62 | | | 3.63 | | | — | | | 1.39 | | | — | | | 1.39 | | | — | | | 26.60 | | | 15.10 | | | 1.12 | | | 1.00 | | | 1.00 | | | 0.03 | | | 126,519 | | | 1 | |
| 12-31-22 | | | 35.40 | | | 0.01 | • | | (8.23 | ) | | (8.22 | ) | | — | | | 2.82 | | | — | | | 2.82 | | | — | | | 24.36 | | | (23.50 | ) | | 1.09 | | | 0.99 | | | 0.99 | | | 0.03 | | | 122,511 | | | 1 | |
| 12-31-21 | | | 31.49 | | | (0.11 | )• | | 6.46 | | | 6.35 | | | — | | | 2.44 | | | — | | | 2.44 | | | — | | | 35.40 | | | 20.73 | | | 1.09 | | | 0.99 | | | 0.99 | | | (0.32 | ) | | 177,254 | | | 1 | |
| 12-31-20 | | | 23.58 | | | (0.08 | ) | | 7.99 | | | 7.91 | | | — | | | — | | | — | | | — | | | — | | | 31.49 | | | 33.55 | | | 1.14 | | | 0.99 | | | 0.99 | | | (0.30 | ) | | 164,347 | | | 1 | |
| 12-31-19 | | | 27.41 | | | 0.01 | | | 10.20 | | | 10.21 | | | — | | | 13.89 | | | 0.15 | | | 14.04 | | | — | | | 23.58 | | | 38.97 | | | 0.99 | | | 0.99 | | | 0.99 | | | 0.04 | | | 147,370 | | | 23 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 26.64 | | | 0.02 | • | | (0.91 | ) | | (0.89 | ) | | — | | | — | | | — | | | — | | | — | | | 25.75 | | | (3.34 | ) | | 0.99 | | | 0.99 | | | 0.99 | | | 0.15 | | | 35,935 | | | 0 | |
| 12-31-23 | | | 24.39 | | | 0.01 | • | | 3.63 | | | 3.64 | | | — | | | 1.39 | | | — | | | 1.39 | | | — | | | 26.64 | | | 15.12 | | | 0.99 | | | 0.99 | | | 0.99 | | | 0.05 | | | 41,144 | | | 1 | |
| 12-31-22 | | | 35.44 | | | 0.02 | • | | (8.25 | ) | | (8.23 | ) | | — | | | 2.82 | | | — | | | 2.82 | | | — | | | 24.39 | | | (23.50 | ) | | 0.98 | | | 0.98 | | | 0.98 | | | 0.06 | | | 38,747 | | | 1 | |
| 12-31-21 | | | 31.52 | | | (0.10 | )• | | 6.46 | | | 6.36 | | | — | | | 2.44 | | | — | | | 2.44 | | | — | | | 35.44 | | | 20.74 | | | 0.97 | | | 0.97 | | | 0.97 | | | (0.30 | ) | | 50,410 | | | 1 | |
| 12-31-20 | | | 23.60 | | | (0.07 | ) | | 7.99 | | | 7.92 | | | — | | | — | | | — | | | — | | | — | | | 31.52 | | | 33.56 | | | 0.99 | | | 0.99 | | | 0.99 | | | (0.30 | ) | | 44,926 | | | 1 | |
| 12-31-19 | | | 27.43 | | | 0.04 | | | 10.17 | | | 10.21 | | | — | | | 13.89 | | | 0.15 | | | 14.04 | | | — | | | 23.60 | | | 38.94 | | | 0.99 | | | 0.99 | | | 0.99 | | | 0.20 | | | 33,764 | | | 23 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 23.59 | | | (0.01 | )• | | (0.81 | ) | | (0.82 | ) | | — | | | — | | | — | | | — | | | — | | | 22.77 | | | (3.48 | ) | | 1.38 | | | 1.25 | | | 1.25 | | | (0.11 | ) | | 190,667 | | | 0 | |
| 12-31-23 | | | 21.80 | | | (0.05 | )• | | 3.23 | | | 3.18 | | | — | | | 1.39 | | | — | | | 1.39 | | | — | | | 23.59 | | | 14.80 | | | 1.37 | | | 1.25 | | | 1.25 | | | (0.22 | ) | | 219,006 | | | 1 | |
| 12-31-22 | | | 32.13 | | | (0.05 | )• | | (7.46 | ) | | (7.51 | ) | | — | | | 2.82 | | | — | | | 2.82 | | | — | | | 21.80 | | | (23.69 | ) | | 1.34 | | | 1.24 | | | 1.24 | | | (0.21 | ) | | 203,579 | | | 1 | |
| 12-31-21 | | | 28.85 | | | (0.17 | )• | | 5.89 | | | 5.72 | | | — | | | 2.44 | | | — | | | 2.44 | | | — | | | 32.13 | | | 20.43 | | | 1.34 | | | 1.24 | | | 1.24 | | | (0.57 | ) | | 282,227 | | | 1 | |
| 12-31-20 | | | 21.65 | | | (0.13 | ) | | 7.33 | | | 7.20 | | | — | | | — | | | — | | | — | | | — | | | 28.85 | | | 33.26 | | | 1.39 | | | 1.24 | | | 1.24 | | | (0.55 | ) | | 261,358 | | | 1 | |
| 12-31-19 | | | 26.10 | | | (0.03 | )• | | 9.62 | | | 9.59 | | | — | | | 13.89 | | | 0.15 | | | 14.04 | | | — | | | 21.65 | | | 38.52 | | | 1.24 | | | 1.24 | | | 1.24 | | | (0.10 | ) | | 228,141 | | | 23 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 20.99 | | | (0.03 | )• | | (0.72 | ) | | (0.75 | ) | | — | | | — | | | — | | | — | | | — | | | 20.24 | | | (3.57 | ) | | 1.53 | | | 1.40 | | | 1.40 | | | (0.25 | ) | | 2,048 | | | 0 | |
| 12-31-23 | | | 19.56 | | | (0.08 | )• | | 2.90 | | | 2.82 | | | — | | | 1.39 | | | — | | | 1.39 | | | — | | | 20.99 | | | 14.65 | | | 1.52 | | | 1.40 | | | 1.40 | | | (0.37 | ) | | 2,258 | | | 1 | |
| 12-31-22 | | | 29.23 | | | (0.08 | )• | | (6.77 | ) | | (6.85 | ) | | — | | | 2.82 | | | — | | | 2.82 | | | — | | | 19.56 | | | (23.79 | ) | | 1.49 | | | 1.39 | | | 1.39 | | | (0.36 | ) | | 2,092 | | | 1 | |
| 12-31-21 | | | 26.48 | | | (0.21 | )• | | 5.40 | | | 5.19 | | | — | | | 2.44 | | | — | | | 2.44 | | | — | | | 29.23 | | | 20.25 | | | 1.49 | | | 1.39 | | | 1.39 | | | (0.73 | ) | | 2,681 | | | 1 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | | Income (loss)
from investment operations | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | Supplemental
Data |
| Year or | | | Net asset value, beginning of year or period | | | Net investment income (loss) | | | Net realized and unrealized gain (loss) | | | Total
from investment operations | | | From
net investment income | | | From net realized gains | | | From return of capital | | | Total distributions | | | Payment by affiliate | | | Net asset value, end of year or period | | | Total Return(1) | | | Expenses before reductions/
additions
(2)(3)(4) | | | Expenses net of fee waivers and/or recoupments if any
(2)(3)(4) | | | Expenses net of all reductions/
additions
(2)(3)(4) | | | Net investment income (loss)(2)(3) | | | Net assets, end of year or period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® Baron Growth Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S2 (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-20 | | | 19.91 | | | (0.15 | ) | | 6.72 | | | 6.57 | | | — | | | — | | | — | | | — | | | — | | | 26.48 | | | 33.00 | | | 1.54 | | | 1.39 | | | 1.39 | | | (0.69 | ) | | 2,963 | | | 1 | |
| 12-31-19 | | | 24.87 | | | (0.45 | )• | | 9.53 | | | 9.08 | | | — | | | 13.89 | | | 0.15 | | | 14.04 | | | — | | | 19.91 | | | 38.37 | | | 1.39 | | | 1.39 | | | 1.39 | | | (1.58 | ) | | 2,373 | | | 23 | |
| VY® Columbia Contrarian Core Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.99 | | | 0.01 | • | | 1.93 | | | 1.94 | | | — | | | — | | | — | | | — | | | — | | | 13.93 | | | 16.18 | | | 1.49 | | | 1.21 | | | 1.21 | | | 0.20 | | | 41,702 | | | 22 | |
| 12-31-23 | | | 14.21 | | | 0.02 | • | | 3.95 | | | 3.97 | | | 0.27 | | | 5.92 | | | — | | | 6.19 | | | — | | | 11.99 | | | 31.36 | | | 1.54 | | | 1.21 | | | 1.20 | | | 0.18 | | | 32,297 | | | 46 | |
| 12-31-22 | | | 21.12 | | | 0.03 | • | | (3.75 | ) | | (3.72 | ) | | 0.01 | | | 3.18 | | | — | | | 3.19 | | | — | | | 14.21 | | | (18.85 | ) | | 1.46 | | | 1.22 | | | 1.22 | | | 0.15 | | | 23,018 | | | 50 | |
| 12-31-21 | | | 19.23 | | | 0.00 | *• | | 4.42 | | | 4.42 | | | 0.05 | | | 2.48 | | | — | | | 2.53 | | | — | | | 21.12 | | | 23.62 | | | 1.48 | | | 1.23 | | | 1.23 | | | 0.01 | | | 31,288 | | | 54 | |
| 12-31-20 | | | 16.38 | | | 0.06 | | | 3.33 | | | 3.39 | | | — | | | 0.54 | | | — | | | 0.54 | | | — | | | 19.23 | | | 21.22 | | | 1.54 | | | 1.23 | | | 1.22 | | | 0.36 | | | 26,173 | | | 91 | |
| 12-31-19 | | | 18.94 | | | 0.13 | • | | 5.51 | | | 5.64 | | | 0.29 | | | 7.91 | | | — | | | 8.20 | | | — | | | 16.38 | | | 32.41 | | | 1.46 | | | 1.23 | | | 1.23 | | | 0.64 | | | 23,961 | | | 45 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.22 | | | 0.05 | • | | 2.28 | | | 2.33 | | | — | | | — | | | — | | | — | | | — | | | 16.55 | | | 16.39 | | | 0.99 | | | 0.71 | | | 0.71 | | | 0.70 | | | 8,307 | | | 22 | |
| 12-31-23 | | | 15.87 | | | 0.10 | • | | 4.49 | | | 4.59 | | | 0.32 | | | 5.92 | | | — | | | 6.24 | | | — | | | 14.22 | | | 32.09 | | | 1.04 | | | 0.71 | | | 0.71 | | | 0.67 | | | 7,078 | | | 46 | |
| 12-31-22 | | | 23.19 | | | 0.12 | • | | (4.15 | ) | | (4.03 | ) | | 0.11 | | | 3.18 | | | — | | | 3.29 | | | — | | | 15.87 | | | (18.51 | ) | | 0.96 | | | 0.72 | | | 0.72 | | | 0.64 | | | 5,731 | | | 50 | |
| 12-31-21 | | | 20.88 | | | 0.12 | • | | 4.81 | | | 4.93 | | | 0.14 | | | 2.48 | | | — | | | 2.62 | | | — | | | 23.19 | | | 24.23 | | | 0.98 | | | 0.73 | | | 0.73 | | | 0.52 | | | 157,468 | | | 54 | |
| 12-31-20 | | | 17.67 | | | 0.15 | • | | 3.61 | | | 3.76 | | | 0.01 | | | 0.54 | | | — | | | 0.55 | | | — | | | 20.88 | | | 21.79 | | | 1.04 | | | 0.73 | | | 0.72 | | | 0.80 | | | 129,553 | | | 91 | |
| 12-31-19 | | | 20.01 | | | 0.25 | • | | 5.84 | | | 6.09 | | | 0.52 | | | 7.91 | | | — | | | 8.43 | | | — | | | 17.67 | | | 33.05 | | | 0.96 | | | 0.73 | | | 0.73 | | | 1.14 | | | 8,548 | | | 45 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.35 | | | 0.03 | • | | 2.14 | | | 2.17 | | | — | | | — | | | — | | | — | | | — | | | 15.52 | | | 16.25 | | | 1.24 | | | 0.96 | | | 0.96 | | | 0.45 | | | 28,428 | | | 22 | |
| 12-31-23 | | | 15.24 | | | 0.06 | • | | 4.28 | | | 4.34 | | | 0.31 | | | 5.92 | | | — | | | 6.23 | | | — | | | 13.35 | | | 31.76 | | | 1.29 | | | 0.96 | | | 0.95 | | | 0.43 | | | 24,900 | | | 46 | |
| 12-31-22 | | | 22.39 | | | 0.07 | • | | (3.98 | ) | | (3.91 | ) | | 0.06 | | | 3.18 | | | — | | | 3.24 | | | — | | | 15.24 | | | (18.64 | ) | | 1.21 | | | 0.97 | | | 0.97 | | | 0.40 | | | 18,315 | | | 50 | |
| 12-31-21 | | | 20.24 | | | 0.06 | • | | 4.66 | | | 4.72 | | | 0.09 | | | 2.48 | | | — | | | 2.57 | | | — | | | 22.39 | | | 23.94 | | | 1.23 | | | 0.98 | | | 0.98 | | | 0.26 | | | 23,775 | | | 54 | |
| 12-31-20 | | | 17.18 | | | 0.11 | | | 3.49 | | | 3.60 | | | — | | | 0.54 | | | — | | | 0.54 | | | — | | | 20.24 | | | 21.45 | | | 1.29 | | | 0.98 | | | 0.97 | | | 0.61 | | | 20,139 | | | 91 | |
| 12-31-19 | | | 19.56 | | | 0.20 | • | | 5.73 | | | 5.93 | | | 0.40 | | | 7.91 | | | — | | | 8.31 | | | — | | | 17.18 | | | 33.06 | | | 1.19 | | | 0.96 | | | 0.96 | | | 0.92 | | | 18,274 | | | 45 | |
| VY® Columbia Small Cap Value II Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.10 | | | 0.05 | • | | 0.28 | | | 0.33 | | | — | | | — | | | — | | | — | | | — | | | 16.43 | | | 2.05 | | | 1.50 | | | 1.43 | | | 1.41 | | | 0.60 | | | 23,062 | | | 47 | |
| 12-31-23 | | | 15.27 | | | 0.11 | • | | 1.91 | | | 2.02 | | | 0.03 | | | 1.16 | | | — | | | 1.19 | | | — | | | 16.10 | | | 13.57 | | | 1.50 | | | 1.42 | | | 1.40 | | | 0.70 | | | 25,025 | | | 73 | |
| 12-31-22 | | | 20.83 | | | 0.01 | • | | (2.85 | ) | | (2.84 | ) | | — | | | 2.72 | | | — | | | 2.72 | | | — | | | 15.27 | | | (14.12 | ) | | 1.49 | | | 1.42 | | | 1.41 | | | 0.07 | | | 28,968 | | | 56 | |
| 12-31-21 | | | 15.65 | | | (0.02 | )• | | 5.30 | | | 5.28 | | | 0.03 | | | 0.07 | | | — | | | 0.10 | | | — | | | 20.83 | | | 33.85 | | | 1.47 | | | 1.42 | | | 1.42 | | | (0.10 | ) | | 39,427 | | | 56 | |
| 12-31-20 | | | 15.06 | | | 0.03 | | | 1.17 | | | 1.20 | | | 0.05 | | | 0.56 | | | — | | | 0.61 | | | — | | | 15.65 | | | 9.28 | | | 1.51 | | | 1.42 | | | 1.41 | | | 0.18 | | | 24,162 | | | 47 | |
| 12-31-19 | | | 14.42 | | | 0.05 | | | 2.67 | | | 2.72 | | | 0.01 | | | 2.07 | | | — | | | 2.08 | | | — | | | 15.06 | | | 19.88 | | | 1.41 | | | 1.38 | | | 1.37 | | | 0.27 | | | 25,615 | | | 25 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.98 | | | 0.09 | • | | 0.30 | | | 0.39 | | | — | | | — | | | — | | | — | | | — | | | 17.37 | | | 2.30 | | | 1.00 | | | 0.93 | | | 0.91 | | | 1.08 | | | 34,973 | | | 47 | |
| 12-31-23 | | | 16.07 | | | 0.20 | • | | 2.01 | | | 2.21 | | | 0.14 | | | 1.16 | | | — | | | 1.30 | | | — | | | 16.98 | | | 14.13 | | | 1.00 | | | 0.92 | | | 0.90 | | | 1.23 | | | 49,605 | | | 73 | |
| 12-31-22 | | | 21.71 | | | 0.11 | • | | (2.98 | ) | | (2.87 | ) | | 0.05 | | | 2.72 | | | — | | | 2.77 | | | — | | | 16.07 | | | (13.67 | ) | | 0.99 | | | 0.92 | | | 0.91 | | | 0.59 | | | 43,765 | | | 56 | |
| 12-31-21 | | | 16.27 | | | 0.07 | • | | 5.53 | | | 5.60 | | | 0.09 | | | 0.07 | | | — | | | 0.16 | | | — | | | 21.71 | | | 34.52 | | | 0.97 | | | 0.92 | | | 0.92 | | | 0.37 | | | 45,424 | | | 56 | |
| 12-31-20 | | | 15.65 | | | 0.10 | | | 1.22 | | | 1.32 | | | 0.14 | | | 0.56 | | | — | | | 0.70 | | | — | | | 16.27 | | | 9.89 | | | 1.01 | | | 0.92 | | | 0.91 | | | 0.68 | | | 34,277 | | | 47 | |
| 12-31-19 | | | 14.94 | | | 0.13 | | | 2.76 | | | 2.89 | | | 0.11 | | | 2.07 | | | — | | | 2.18 | | | — | | | 15.65 | | | 20.42 | | | 0.91 | | | 0.88 | | | 0.87 | | | 0.79 | | | 36,201 | | | 25 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.02 | | | 0.10 | • | | 0.29 | | | 0.39 | | | — | | | — | | | — | | | — | | | — | | | 17.41 | | | 2.29 | | | 0.90 | | | 0.87 | | | 0.86 | | | 1.16 | | | 8,040 | | | 47 | |
| 12-31-23 | | | 16.10 | | | 0.21 | • | | 2.02 | | | 2.23 | | | 0.15 | | | 1.16 | | | — | | | 1.31 | | | — | | | 17.02 | | | 14.23 | | | 0.89 | | | 0.86 | | | 0.84 | | | 1.28 | | | 8,338 | | | 73 | |
| 12-31-22 | | | 21.74 | | | 0.12 | • | | (2.98 | ) | | (2.86 | ) | | 0.06 | | | 2.72 | | | — | | | 2.78 | | | — | | | 16.10 | | | (13.62 | ) | | 0.89 | | | 0.86 | | | 0.85 | | | 0.65 | | | 9,533 | | | 56 | |
| 12-31-21 | | | 16.29 | | | 0.10 | • | | 5.51 | | | 5.61 | | | 0.09 | | | 0.07 | | | — | | | 0.16 | | | — | | | 21.74 | | | 34.57 | | | 0.89 | | | 0.86 | | | 0.86 | | | 0.49 | | | 12,560 | | | 56 | |
| 12-31-20 | | | 15.66 | | | 0.10 | | | 1.23 | | | 1.33 | | | 0.14 | | | 0.56 | | | — | | | 0.70 | | | — | | | 16.29 | | | 9.94 | | | 0.91 | | | 0.88 | | | 0.87 | | | 0.71 | | | 6,983 | | | 47 | |
| 12-31-19 | | | 14.94 | | | 0.12 | | | 2.78 | | | 2.90 | | | 0.11 | | | 2.07 | | | — | | | 2.18 | | | — | | | 15.66 | | | 20.48 | | | 0.91 | | | 0.88 | | | 0.87 | | | 0.81 | | | 6,701 | | | 25 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | | Income (loss)
from investment operations | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | Supplemental
Data |
| Year or | | | Net asset value, beginning of year or period | | | Net investment income (loss) | | | Net realized and unrealized gain (loss) | | | Total
from investment operations | | | From
net investment income | | | From net realized gains | | | From return of capital | | | Total distributions | | | Payment by affiliate | | | Net asset value, end of year or period | | | Total Return(1) | | | Expenses before reductions/
additions
(2)(3)(4) | | | Expenses net of fee waivers and/or recoupments if any
(2)(3)(4) | | | Expenses net of all reductions/
additions
(2)(3)(4) | | | Net investment income (loss)(2)(3) | | | Net assets, end of year or period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® Columbia Small Cap Value II Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.89 | | | 0.07 | • | | 0.29 | | | 0.36 | | | — | | | — | | | — | | | — | | | — | | | 17.25 | | | 2.13 | | | 1.25 | | | 1.18 | | | 1.16 | | | 0.85 | | | 63,322 | | | 47 | |
| 12-31-23 | | | 15.98 | | | 0.15 | • | | 2.01 | | | 2.16 | | | 0.09 | | | 1.16 | | | — | | | 1.25 | | | — | | | 16.89 | | | 13.85 | | | 1.25 | | | 1.17 | | | 1.15 | | | 0.96 | | | 69,044 | | | 73 | |
| 12-31-22 | | | 21.61 | | | 0.06 | • | | (2.97 | ) | | (2.91 | ) | | 0.00 | * | | 2.72 | | | — | | | 2.72 | | | — | | | 15.98 | | | (13.91 | ) | | 1.24 | | | 1.17 | | | 1.16 | | | 0.32 | | | 72,207 | | | 56 | |
| 12-31-21 | | | 16.20 | | | 0.02 | • | | 5.51 | | | 5.53 | | | 0.05 | | | 0.07 | | | — | | | 0.12 | | | — | | | 21.61 | | | 34.22 | | | 1.22 | | | 1.17 | | | 1.17 | | | 0.12 | | | 96,978 | | | 56 | |
| 12-31-20 | | | 15.58 | | | 0.07 | | | 1.20 | | | 1.27 | | | 0.09 | | | 0.56 | | | — | | | 0.65 | | | — | | | 16.20 | | | 9.54 | | | 1.26 | | | 1.17 | | | 1.16 | | | 0.42 | | | 82,438 | | | 47 | |
| 12-31-19 | | | 14.86 | | | 0.09 | | | 2.76 | | | 2.85 | | | 0.06 | | | 2.07 | | | — | | | 2.13 | | | — | | | 15.58 | | | 20.21 | | | 1.16 | | | 1.13 | | | 1.12 | | | 0.53 | | | 89,702 | | | 25 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.11 | | | 0.06 | • | | 0.28 | | | 0.34 | | | — | | | — | | | — | | | — | | | — | | | 16.45 | | | 2.11 | | | 1.40 | | | 1.33 | | | 1.31 | | | 0.70 | | | 1,642 | | | 47 | |
| 12-31-23 | | | 15.30 | | | 0.13 | • | | 1.91 | | | 2.04 | | | 0.07 | | | 1.16 | | | — | | | 1.23 | | | — | | | 16.11 | | | 13.70 | | | 1.40 | | | 1.32 | | | 1.30 | | | 0.82 | | | 1,712 | | | 73 | |
| 12-31-22 | | | 20.85 | | | 0.03 | | | (2.86 | ) | | (2.83 | ) | | — | | | 2.72 | | | — | | | 2.72 | | | — | | | 15.30 | | | (14.06 | ) | | 1.39 | | | 1.32 | | | 1.31 | | | 0.17 | | | 1,597 | | | 56 | |
| 12-31-21 | | | 15.65 | | | 0.00 | * | | 5.30 | | | 5.30 | | | 0.03 | | | 0.07 | | | — | | | 0.10 | | | — | | | 20.85 | | | 33.96 | | | 1.37 | | | 1.32 | | | 1.32 | | | (0.01 | ) | | 1,856 | | | 56 | |
| 12-31-20 | | | 15.02 | | | 0.05 | | | 1.18 | | | 1.23 | | | 0.04 | | | 0.56 | | | — | | | 0.60 | | | — | | | 15.65 | | | 9.45 | | | 1.41 | | | 1.32 | | | 1.31 | | | 0.27 | | | 1,446 | | | 47 | |
| 12-31-19 | | | 14.40 | | | 0.05 | • | | 2.67 | | | 2.72 | | | 0.03 | | | 2.07 | | | — | | | 2.10 | | | — | | | 15.02 | | | 19.95 | | | 1.31 | | | 1.28 | | | 1.27 | | | 0.34 | | | 1,671 | | | 25 | |
| VY® Invesco Comstock Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 19.94 | | | 0.14 | • | | 1.51 | | | 1.65 | | | — | | | — | | | — | | | — | | | — | | | 21.59 | | | 8.27 | | | 1.30 | | | 1.20 | | | 1.20 | | | 1.35 | | | 31,105 | | | 8 | |
| 12-31-23 | | | 20.74 | | | 0.28 | • | | 2.03 | | | 2.31 | | | 0.30 | | | 2.81 | | | — | | | 3.11 | | | — | | | 19.94 | | | 11.70 | | | 1.29 | | | 1.20 | | | 1.20 | | | 1.36 | | | 30,757 | | | 19 | |
| 12-31-22 | | | 21.05 | | | 0.26 | • | | (0.24 | ) | | 0.02 | | | 0.28 | | | 0.05 | | | — | | | 0.33 | | | — | | | 20.74 | | | 0.12 | | | 1.28 | | | 1.20 | | | 1.20 | | | 1.27 | | | 33,953 | | | 22 | |
| 12-31-21 | | | 16.05 | | | 0.21 | • | | 5.03 | | | 5.24 | | | 0.24 | | | — | | | — | | | 0.24 | | | — | | | 21.05 | | | 32.69 | | | 1.29 | | | 1.20 | | | 1.20 | | | 1.06 | | | 34,649 | | | 31 | |
| 12-31-20 | | | 17.01 | | | 0.25 | | | (0.46 | ) | | (0.21 | ) | | 0.30 | | | 0.45 | | | — | | | 0.75 | | | — | | | 16.05 | | | (0.74 | ) | | 1.33 | | | 1.27 | | | 1.27 | | | 1.71 | | | 28,434 | | | 64 | |
| 12-31-19 | | | 17.39 | | | 0.30 | • | | 3.74 | | | 4.04 | | | 0.41 | | | 4.01 | | | — | | | 4.42 | | | — | | | 17.01 | | | 24.86 | | | 1.25 | | | 1.23 | | | 1.23 | | | 1.60 | | | 31,202 | | | 25 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 20.17 | | | 0.19 | • | | 1.53 | | | 1.72 | | | — | | | — | | | — | | | — | | | — | | | 21.89 | | | 8.53 | | | 0.80 | | | 0.70 | | | 0.70 | | | 1.81 | | | 104,238 | | | 8 | |
| 12-31-23 | | | 20.94 | | | 0.38 | • | | 2.06 | | | 2.44 | | | 0.40 | | | 2.81 | | | — | | | 3.21 | | | — | | | 20.17 | | | 12.25 | | | 0.79 | | | 0.70 | | | 0.70 | | | 1.87 | | | 134,901 | | | 19 | |
| 12-31-22 | | | 21.25 | | | 0.37 | • | | (0.25 | ) | | 0.12 | | | 0.38 | | | 0.05 | | | — | | | 0.43 | | | — | | | 20.94 | | | 0.63 | | | 0.78 | | | 0.70 | | | 0.70 | | | 1.74 | | | 141,023 | | | 22 | |
| 12-31-21 | | | 16.20 | | | 0.31 | • | | 5.09 | | | 5.40 | | | 0.35 | | | — | | | — | | | 0.35 | | | — | | | 21.25 | | | 33.33 | | | 0.79 | | | 0.70 | | | 0.70 | | | 1.58 | | | 178,856 | | | 31 | |
| 12-31-20 | | | 17.19 | | | 0.32 | • | | (0.46 | ) | | (0.14 | ) | | 0.40 | | | 0.45 | | | — | | | 0.85 | | | — | | | 16.20 | | | (0.22 | ) | | 0.83 | | | 0.77 | | | 0.77 | | | 2.25 | | | 114,569 | | | 64 | |
| 12-31-19 | | | 17.52 | | | 0.40 | • | | 3.78 | | | 4.18 | | | 0.50 | | | 4.01 | | | — | | | 4.51 | | | — | | | 17.19 | | | 25.51 | | | 0.75 | | | 0.73 | | | 0.73 | | | 2.09 | | | 203,510 | | | 25 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 20.21 | | | 0.17 | • | | 1.52 | | | 1.69 | | | — | | | — | | | — | | | — | | | — | | | 21.90 | | | 8.36 | | | 1.05 | | | 0.95 | | | 0.95 | | | 1.61 | | | 92,036 | | | 8 | |
| 12-31-23 | | | 20.97 | | | 0.33 | • | | 2.07 | | | 2.40 | | | 0.35 | | | 2.81 | | | — | | | 3.16 | | | — | | | 20.21 | | | 12.03 | | | 1.04 | | | 0.95 | | | 0.95 | | | 1.62 | | | 88,857 | | | 19 | |
| 12-31-22 | | | 21.28 | | | 0.32 | • | | (0.25 | ) | | 0.07 | | | 0.33 | | | 0.05 | | | — | | | 0.38 | | | — | | | 20.97 | | | 0.38 | | | 1.03 | | | 0.95 | | | 0.95 | | | 1.53 | | | 87,056 | | | 22 | |
| 12-31-21 | | | 16.23 | | | 0.26 | • | | 5.09 | | | 5.35 | | | 0.30 | | | — | | | — | | | 0.30 | | | — | | | 21.28 | | | 32.96 | | | 1.04 | | | 0.95 | | | 0.95 | | | 1.31 | | | 81,485 | | | 31 | |
| 12-31-20 | | | 17.18 | | | 0.31 | | | (0.48 | ) | | (0.17 | ) | | 0.33 | | | 0.45 | | | — | | | 0.78 | | | — | | | 16.23 | | | (0.47 | ) | | 1.08 | | | 1.02 | | | 1.02 | | | 1.97 | | | 63,320 | | | 64 | |
| 12-31-19 | | | 17.51 | | | 0.36 | • | | 3.77 | | | 4.13 | | | 0.45 | | | 4.01 | | | — | | | 4.46 | | | — | | | 17.18 | | | 25.24 | | | 1.00 | | | 0.98 | | | 0.98 | | | 1.88 | | | 73,675 | | | 25 | |
| VY® Invesco Equity and Income Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 40.72 | | | 0.33 | • | | 1.72 | | | 2.05 | | | — | | | — | | | — | | | — | | | — | | | 42.77 | | | 5.04 | | | 1.23 | | | 1.14 | | | 1.14 | | | 1.58 | | | 40,777 | | | 59 | |
| 12-31-23 | | | 40.03 | | | 0.62 | • | | 3.15 | | | 3.77 | | | 0.73 | | | 2.35 | | | — | | | 3.08 | | | — | | | 40.72 | | | 9.71 | | | 1.22 | | | 1.14 | | | 1.14 | | | 1.55 | | | 40,401 | | | 144 | |
| 12-31-22 | | | 51.71 | | | 0.54 | • | | (4.68 | ) | | (4.14 | ) | | 0.54 | | | 7.00 | | | — | | | 7.54 | | | — | | | 40.03 | | | (8.07 | ) | | 1.22 | | | 1.14 | | | 1.14 | | | 1.20 | | | 43,412 | | | 136 | |
| 12-31-21 | | | 44.76 | | | 0.36 | • | | 7.69 | | | 8.05 | | | 0.50 | | | 0.60 | | | — | | | 1.10 | | | — | | | 51.71 | | | 18.03 | | | 1.21 | | | 1.14 | | | 1.14 | | | 0.73 | | | 49,436 | | | 127 | |
| 12-31-20 | | | 43.36 | | | 0.58 | | | 3.25 | | | 3.83 | | | 0.59 | | | 1.84 | | | — | | | 2.43 | | | — | | | 44.76 | | | 9.62 | | | 1.21 | | | 1.14 | | | 1.14 | | | 1.34 | | | 42,053 | | | 90 | |
| 12-31-19 | | | 38.95 | | | 0.62 | • | | 6.82 | | | 7.44 | | | 0.68 | | | 2.35 | | | — | | | 3.03 | | | — | | | 43.36 | | | 19.50 | | | 1.17 | | | 1.14 | | | 1.14 | | | 1.47 | | | 44,825 | | | 143 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 41.73 | | | 0.45 | • | | 1.77 | | | 2.22 | | | — | | | — | | | — | | | — | | | — | | | 43.95 | | | 5.32 | | | 0.73 | | | 0.64 | | | 0.64 | | | 2.08 | | | 402,967 | | | 59 | |
| 12-31-23 | | | 40.95 | | | 0.84 | • | | 3.23 | | | 4.07 | | | 0.94 | | | 2.35 | | | — | | | 3.29 | | | — | | | 41.73 | | | 10.25 | | | 0.72 | | | 0.64 | | | 0.64 | | | 2.05 | | | 419,320 | | | 144 | |
| 12-31-22 | | | 52.69 | | | 0.78 | • | | (4.77 | ) | | (3.99 | ) | | 0.75 | | | 7.00 | | | — | | | 7.75 | | | — | | | 40.95 | | | (7.60 | ) | | 0.72 | | | 0.64 | | | 0.64 | | | 1.69 | | | 423,188 | | | 136 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® Invesco Equity and Income Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-21 | | | 45.58 | | | 0.62 | • | | 7.83 | | | | 8.45 | | | 0.74 | | | 0.60 | | | — | | | 1.34 | | | — | | | 52.69 | | | 18.60 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 1.23 | | | 502,445 | | | 127 | |
| 12-31-20 | | | 44.08 | | | 0.80 | | | 3.34 | | | | 4.14 | | | 0.80 | | | 1.84 | | | — | | | 2.64 | | | — | | | 45.58 | | | 10.18 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 1.84 | | | 467,994 | | | 90 | |
| 12-31-19 | | | 39.54 | | | 0.85 | • | | 6.94 | | | | 7.79 | | | 0.90 | | | 2.35 | | | — | | | 3.25 | | | — | | | 44.08 | | | 20.10 | | | | 0.67 | | | 0.64 | | | 0.64 | | | 1.97 | | | 484,839 | | | 143 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 41.32 | | | 0.39 | • | | 1.76 | | | | 2.15 | | | — | | | — | | | — | | | — | | | — | | | 43.47 | | | 5.20 | | | | 0.98 | | | 0.89 | | | 0.89 | | | 1.83 | | | 305,936 | | | 59 | |
| 12-31-23 | | | 40.58 | | | 0.73 | • | | 3.19 | | | | 3.92 | | | 0.83 | | | 2.35 | | | — | | | 3.18 | | | — | | | 41.32 | | | 9.97 | | | | 0.97 | | | 0.89 | | | 0.89 | | | 1.80 | | | 316,937 | | | 144 | |
| 12-31-22 | | | 52.29 | | | 0.66 | • | | (4.73 | ) | | | (4.07 | ) | | 0.64 | | | 7.00 | | | — | | | 7.64 | | | — | | | 40.58 | | | (7.83 | ) | | | 0.97 | | | 0.89 | | | 0.89 | | | 1.44 | | | 346,982 | | | 136 | |
| 12-31-21 | | | 45.24 | | | 0.49 | • | | 7.77 | | | | 8.26 | | | 0.61 | | | 0.60 | | | — | | | 1.21 | | | — | | | 52.29 | | | 18.31 | | | | 0.96 | | | 0.89 | | | 0.89 | | | 0.97 | | | 437,821 | | | 127 | |
| 12-31-20 | | | 43.79 | | | 0.70 | | | 3.28 | | | | 3.98 | | | 0.69 | | | 1.84 | | | — | | | 2.53 | | | — | | | 45.24 | | | 9.88 | | | | 0.96 | | | 0.89 | | | 0.89 | | | 1.59 | | | 436,888 | | | 90 | |
| 12-31-19 | | | 39.30 | | | 0.74 | • | | 6.88 | | | | 7.62 | | | 0.78 | | | 2.35 | | | — | | | 3.13 | | | — | | | 43.79 | | | 19.80 | | | | 0.92 | | | 0.89 | | | 0.89 | | | 1.72 | | | 473,465 | | | 143 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 40.48 | | | 0.35 | • | | 1.72 | | | | 2.07 | | | — | | | — | | | — | | | — | | | — | | | 42.55 | | | 5.12 | | | | 1.13 | | | 1.02 | | | 1.02 | | | 1.70 | | | 241,538 | | | 59 | |
| 12-31-23 | | | 39.81 | | | 0.66 | • | | 3.13 | | | | 3.79 | | | 0.77 | | | 2.35 | | | — | | | 3.12 | | | — | | | 40.48 | | | 9.83 | | | | 1.12 | | | 1.02 | | | 1.02 | | | 1.67 | | | 250,871 | | | 144 | |
| 12-31-22 | | | 51.45 | | | 0.59 | • | | (4.65 | ) | | | (4.06 | ) | | 0.58 | | | 7.00 | | | — | | | 7.58 | | | — | | | 39.81 | | | (7.95 | ) | | | 1.12 | | | 1.02 | | | 1.02 | | | 1.31 | | | 265,672 | | | 136 | |
| 12-31-21 | | | 44.52 | | | 0.42 | • | | 7.64 | | | | 8.06 | | | 0.53 | | | 0.60 | | | — | | | 1.13 | | | — | | | 51.45 | | | 18.17 | | | | 1.11 | | | 1.02 | | | 1.02 | | | 0.84 | | | 320,526 | | | 127 | |
| 12-31-20 | | | 43.13 | | | 0.63 | | | 3.23 | | | | 3.86 | | | 0.63 | | | 1.84 | | | — | | | 2.47 | | | — | | | 44.52 | | | 9.76 | | | | 1.11 | | | 1.02 | | | 1.02 | | | 1.46 | | | 308,786 | | | 90 | |
| 12-31-19 | | | 38.75 | | | 0.67 | • | | 6.78 | | | | 7.45 | | | 0.72 | | | 2.35 | | | — | | | 3.07 | | | — | | | 43.13 | | | 19.63 | | | | 1.07 | | | 1.02 | | | 1.02 | | | 1.59 | | | 328,815 | | | 143 | |
| VY® JPMorgan Mid Cap Value Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.29 | | | 0.05 | • | | 0.47 | | | | 0.52 | | | — | | | — | | | — | | | — | | | — | | | 14.81 | | | 3.64 | | | | 1.51 | | | 1.36 | | | 1.36 | | | 0.66 | | | 74,483 | | | 8 | |
| 12-31-23 | | | 14.51 | | | 0.09 | • | | 1.33 | | | | 1.42 | | | 0.12 | | | 1.52 | | | — | | | 1.64 | | | — | | | 14.29 | | | 10.28 | | | | 1.51 | | | 1.35 | | | 1.35 | | | 0.62 | | | 75,703 | | | 10 | |
| 12-31-22 | | | 19.24 | | | 0.11 | • | | (1.76 | ) | | | (1.65 | ) | | 0.11 | | | 2.97 | | | — | | | 3.08 | | | — | | | 14.51 | | | (8.84 | ) | | | 1.50 | | | 1.38 | | | 1.38 | | | 0.64 | | | 79,578 | | | 13 | |
| 12-31-21 | | | 15.51 | | | 0.05 | • | | 4.43 | | | | 4.48 | | | 0.05 | | | 0.70 | | | — | | | 0.75 | | | — | | | 19.24 | | | 29.15 | | | | 1.49 | | | 1.38 | | | 1.38 | | | 0.28 | | | 93,649 | | | 22 | |
| 12-31-20 | | | 17.15 | | | 0.09 | | | (0.33 | ) | | | (0.24 | ) | | 0.11 | | | 1.29 | | | — | | | 1.40 | | | — | | | 15.51 | | | 0.08 | | | | 1.51 | | | 1.38 | | | 1.38 | | | 0.58 | | | 79,036 | | | 18 | |
| 12-31-19 | | | 15.74 | | | 0.12 | | | 3.74 | | | | 3.86 | | | 0.12 | | | 2.33 | | | — | | | 2.45 | | | — | | | 17.15 | | | 25.81 | | | | 1.39 | | | 1.39 | | | 1.39 | | | 0.71 | | | 89,967 | | | 9 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.08 | | | 0.09 | • | | 0.49 | | | | 0.58 | | | — | | | — | | | — | | | — | | | — | | | 15.66 | | | 3.85 | | | | 1.01 | | | 0.86 | | | 0.86 | | | 1.14 | | | 79,803 | | | 8 | |
| 12-31-23 | | | 15.21 | | | 0.17 | • | | 1.41 | | | | 1.58 | | | 0.19 | | | 1.52 | | | — | | | 1.71 | | | — | | | 15.08 | | | 10.89 | | | | 1.01 | | | 0.85 | | | 0.85 | | | 1.11 | | | 97,398 | | | 10 | |
| 12-31-22 | | | 20.00 | | | 0.20 | • | | (1.83 | ) | | | (1.63 | ) | | 0.19 | | | 2.97 | | | — | | | 3.16 | | | — | | | 15.21 | | | (8.39 | ) | | | 1.00 | | | 0.88 | | | 0.88 | | | 1.13 | | | 107,243 | | | 13 | |
| 12-31-21 | | | 16.09 | | | 0.15 | • | | 4.60 | | | | 4.75 | | | 0.14 | | | 0.70 | | | — | | | 0.84 | | | — | | | 20.00 | | | 29.79 | | | | 0.99 | | | 0.88 | | | 0.88 | | | 0.77 | | | 138,540 | | | 22 | |
| 12-31-20 | | | 17.72 | | | 0.17 | | | (0.33 | ) | | | (0.16 | ) | | 0.18 | | | 1.29 | | | — | | | 1.47 | | | — | | | 16.09 | | | 0.55 | | | | 1.01 | | | 0.88 | | | 0.88 | | | 1.08 | | | 124,709 | | | 18 | |
| 12-31-19 | | | 16.18 | | | 0.22 | | | 3.86 | | | | 4.08 | | | 0.21 | | | 2.33 | | | — | | | 2.54 | | | — | | | 17.72 | | | 26.46 | | | | 0.89 | | | 0.89 | | | 0.89 | | | 1.21 | | | 150,535 | | | 9 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.78 | | | 0.07 | • | | 0.49 | | | | 0.56 | | | — | | | — | | | — | | | — | | | — | | | 15.34 | | | 3.79 | | | | 1.26 | | | 1.11 | | | 1.11 | | | 0.91 | | | 131,463 | | | 8 | |
| 12-31-23 | | | 14.95 | | | 0.13 | • | | 1.37 | | | | 1.50 | | | 0.15 | | | 1.52 | | | — | | | 1.67 | | | — | | | 14.78 | | | 10.54 | | | | 1.26 | | | 1.10 | | | 1.10 | | | 0.87 | | | 138,590 | | | 10 | |
| 12-31-22 | | | 19.72 | | | 0.15 | • | | (1.80 | ) | | | (1.65 | ) | | 0.15 | | | 2.97 | | | — | | | 3.12 | | | — | | | 14.95 | | | (8.62 | ) | | | 1.25 | | | 1.13 | | | 1.13 | | | 0.89 | | | 153,670 | | | 13 | |
| 12-31-21 | | | 15.87 | | | 0.10 | • | | 4.54 | | | | 4.64 | | | 0.09 | | | 0.70 | | | — | | | 0.79 | | | — | | | 19.72 | | | 29.51 | | | | 1.24 | | | 1.13 | | | 1.13 | | | 0.53 | | | 188,813 | | | 22 | |
| 12-31-20 | | | 17.51 | | | 0.13 | | | (0.33 | ) | | | (0.20 | ) | | 0.15 | | | 1.29 | | | — | | | 1.44 | | | — | | | 15.87 | | | 0.28 | | | | 1.26 | | | 1.13 | | | 1.13 | | | 0.83 | | | 169,728 | | | 18 | |
| 12-31-19 | | | 16.01 | | | 0.17 | | | 3.82 | | | | 3.99 | | | 0.16 | | | 2.33 | | | — | | | 2.49 | | | — | | | 17.51 | | | 26.21 | | | | 1.14 | | | 1.14 | | | 1.14 | | | 0.96 | | | 200,304 | | | 9 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.26 | | | 0.06 | • | | 0.47 | | | | 0.53 | | | — | | | — | | | — | | | — | | | — | | | 14.79 | | | 3.72 | | | | 1.41 | | | 1.26 | | | 1.26 | | | 0.76 | | | 791 | | | 8 | |
| 12-31-23 | | | 14.48 | | | 0.10 | • | | 1.33 | | | | 1.43 | | | 0.13 | | | 1.52 | | | — | | | 1.65 | | | — | | | 14.26 | | | 10.42 | | | | 1.41 | | | 1.25 | | | 1.25 | | | 0.73 | | | 776 | | | 10 | |
| 12-31-22 | | | 19.17 | | | 0.13 | • | | (1.77 | ) | | | (1.64 | ) | | 0.08 | | | 2.97 | | | — | | | 3.05 | | | — | | | 14.48 | | | (8.82 | ) | | | 1.40 | | | 1.28 | | | 1.28 | | | 0.73 | | | 718 | | | 13 | |
| 12-31-21 | | | 15.47 | | | 0.08 | • | | 4.41 | | | | 4.49 | | | 0.09 | | | 0.70 | | | — | | | 0.79 | | | — | | | 19.17 | | | 29.29 | | | | 1.39 | | | 1.28 | | | 1.28 | | | 0.43 | | | 1,996 | | | 22 | |
| 12-31-20 | | | 17.10 | | | 0.11 | | | (0.33 | ) | | | (0.22 | ) | | 0.12 | | | 1.29 | | | — | | | 1.41 | | | — | | | 15.47 | | | 0.18 | | | | 1.41 | | | 1.28 | | | 1.28 | | | 0.69 | | | 1,340 | | | 18 | |
| 12-31-19 | | | 15.69 | | | 0.14 | • | | 3.73 | | | | 3.87 | | | 0.13 | | | 2.33 | | | — | | | 2.46 | | | — | | | 17.10 | | | 25.96 | | | | 1.29 | | | 1.29 | | | 1.29 | | | 0.81 | | | 1,782 | | | 9 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.07 | | | (0.03 | )• | | 0.66 | | | | 0.63 | | | — | | | — | | | — | | | — | | | — | | | 8.70 | | | 7.81 | | | | 1.36 | | | 1.29 | | | 1.29 | | | (0.63 | ) | | 67,972 | | | 16 | |
| 12-31-23 | | | 6.72 | | | (0.03 | )• | | 1.39 | | | | 1.36 | | | — | | | 0.01 | | | — | | | 0.01 | | | — | | | 8.07 | | | 20.30 | | | | 1.37 | | | 1.28 | | | 1.28 | | | (0.47 | ) | | 64,561 | | | 45 | |
| 12-31-22 | | | 12.43 | | | (0.04 | )• | | (2.84 | ) | | | (2.88 | ) | | — | | | 2.83 | | | — | | | 2.83 | | | — | | | 6.72 | | | (24.63 | ) | | | 1.36 | | | 1.28 | | | 1.28 | | | (0.45 | ) | | 53,242 | | | 29 | |
| 12-31-21 | | | 13.16 | | | (0.12 | )• | | 1.84 | | | | 1.72 | | | — | | | 2.45 | | | — | | | 2.45 | | | — | | | 12.43 | | | 13.24 | | | | 1.34 | | | 1.30 | | | 1.30 | | | (0.91 | ) | | 76,149 | | | 31 | |
| 12-31-20 | | | 11.00 | | | (0.05 | ) | | 3.27 | | | | 3.22 | | | 0.01 | | | 1.05 | | | — | | | 1.06 | | | — | | | 13.16 | | | 31.26 | | | | 1.37 | | | 1.30 | | | 1.30 | | | (0.49 | ) | | 64,622 | | | 53 | |
| 12-31-19 | | | 9.08 | | | (0.03 | ) | | 3.26 | | | | 3.23 | | | 0.03 | | | 1.28 | | | — | | | 1.31 | | | — | | | 11.00 | | | 36.56 | | | | 1.27 | | | 1.27 | | | 1.27 | | | (0.28 | ) | | 90,526 | | | 16 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.34 | | | (0.01 | )• | | 0.86 | | | | 0.85 | | | — | | | — | | | — | | | — | | | — | | | 11.19 | | | 8.22 | | | | 0.86 | | | 0.79 | | | 0.79 | | | (0.13 | ) | | 838,752 | | | 16 | |
| 12-31-23 | | | 8.56 | | | 0.00 | *• | | 1.79 | | | | 1.79 | | | 0.00 | * | | 0.01 | | | — | | | 0.01 | | | — | | | 10.34 | | | 20.96 | | | | 0.87 | | | 0.78 | | | 0.78 | | | 0.03 | | | 836,627 | | | 45 | |
| 12-31-22 | | | 14.82 | | | 0.00 | *• | | (3.43 | ) | | | (3.43 | ) | | — | | | 2.83 | | | — | | | 2.83 | | | — | | | 8.56 | | | (24.34 | ) | | | 0.86 | | | 0.78 | | | 0.78 | | | 0.05 | | | 841,674 | | | 29 | |
| 12-31-21 | | | 15.20 | | | (0.06 | )• | | 2.13 | | | | 2.07 | | | 0.00 | * | | 2.45 | | | — | | | 2.45 | | | — | | | 14.82 | | | 13.80 | | | | 0.84 | | | 0.80 | | | 0.80 | | | (0.41 | ) | | 1,214,371 | | | 31 | |
| 12-31-20 | | | 12.50 | | | (0.01 | )• | | 3.77 | | | | 3.76 | | | 0.01 | | | 1.05 | | | — | | | 1.06 | | | — | | | 15.20 | | | 31.84 | | | | 0.87 | | | 0.80 | | | 0.80 | | | (0.07 | ) | | 1,179,581 | | | 53 | |
| 12-31-19 | | | 10.14 | | | 0.03 | • | | 3.65 | | | | 3.68 | | | 0.04 | | | 1.28 | | | — | | | 1.32 | | | — | | | 12.50 | | | 37.20 | | | | 0.77 | | | 0.77 | | | 0.77 | | | 0.21 | | | 985,213 | | | 16 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.37 | | | (0.01 | )• | | 0.85 | | | | 0.84 | | | — | | | — | | | — | | | — | | | — | | | 11.21 | | | 8.10 | | | | 0.77 | | | 0.76 | | | 0.76 | | | (0.09 | ) | | 135,727 | | | 16 | |
| 12-31-23 | | | 8.58 | | | 0.01 | • | | 1.79 | | | | 1.80 | | | 0.00 | * | | 0.01 | | | — | | | 0.01 | | | — | | | 10.37 | | | 21.03 | | | | 0.77 | | | 0.75 | | | 0.75 | | | 0.07 | | | 109,932 | | | 45 | |
| 12-31-22 | | | 14.84 | | | 0.01 | • | | (3.44 | ) | | | (3.43 | ) | | — | | | 2.83 | | | — | | | 2.83 | | | — | | | 8.58 | | | (24.31 | ) | | | 0.77 | | | 0.75 | | | 0.75 | | | 0.08 | | | 89,811 | | | 29 | |
| 12-31-21 | | | 15.22 | | | (0.06 | )• | | 2.13 | | | | 2.07 | | | — | | | 2.45 | | | — | | | 2.45 | | | — | | | 14.84 | | | 13.80 | | | | 0.76 | | | 0.76 | | | 0.76 | | | (0.37 | ) | | 118,927 | | | 31 | |
| 12-31-20 | | | 12.51 | | | (0.01 | ) | | 3.78 | | | | 3.77 | | | 0.01 | | | 1.05 | | | — | | | 1.06 | | | — | | | 15.22 | | | 31.90 | | | | 0.77 | | | 0.77 | | | 0.77 | | | (0.13 | ) | | 109,585 | | | 53 | |
| 12-31-19 | | | 10.14 | | | 0.02 | | | 3.67 | | | | 3.69 | | | 0.04 | | | 1.28 | | | — | | | 1.32 | | | — | | | 12.51 | | | 37.31 | | | | 0.77 | | | 0.77 | | | 0.77 | | | 0.24 | | | 30,761 | | | 16 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.43 | | | (0.02 | )• | | 0.77 | | | | 0.75 | | | — | | | — | | | — | | | — | | | — | | | 10.18 | | | 7.95 | | | | 1.11 | | | 1.04 | | | 1.04 | | | (0.38 | ) | | 28,940 | | | 16 | |
| 12-31-23 | | | 7.83 | | | (0.02 | )• | | 1.63 | | | | 1.61 | | | — | | | 0.01 | | | — | | | 0.01 | | | — | | | 9.43 | | | 20.62 | | | | 1.12 | | | 1.03 | | | 1.03 | | | (0.22 | ) | | 28,114 | | | 45 | |
| 12-31-22 | | | 13.88 | | | (0.02 | )• | | (3.20 | ) | | | (3.22 | ) | | — | | | 2.83 | | | — | | | 2.83 | | | — | | | 7.83 | | | (24.47 | ) | | | 1.11 | | | 1.03 | | | 1.03 | | | (0.22 | ) | | 26,887 | | | 29 | |
| 12-31-21 | | | 14.40 | | | (0.10 | )• | | 2.03 | | | | 1.93 | | | — | | | 2.45 | | | — | | | 2.45 | | | — | | | 13.88 | | | 13.58 | | | | 1.09 | | | 1.05 | | | 1.05 | | | (0.66 | ) | | 45,922 | | | 31 | |
| 12-31-20 | | | 11.93 | | | (0.03 | ) | | 3.56 | | | | 3.53 | | | 0.01 | | | 1.05 | | | — | | | 1.06 | | | — | | | 14.40 | | | 31.42 | | | | 1.12 | | | 1.05 | | | 1.05 | | | (0.30 | ) | | 49,415 | | | 53 | |
| 12-31-19 | | | 9.74 | | | 0.00 | *• | | 3.50 | | | | 3.50 | | | 0.03 | | | 1.28 | | | — | | | 1.31 | | | — | | | 11.93 | | | 36.88 | | | | 1.02 | | | 1.02 | | | 1.02 | | | (0.04 | ) | | 47,101 | | | 16 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.21 | | | (0.02 | )• | | 0.68 | | | | 0.66 | | | — | | | — | | | — | | | — | | | — | | | 8.87 | | | 8.04 | | | | 1.26 | | | 1.19 | | | 1.19 | | | (0.52 | ) | | 2,842 | | | 16 | |
| 12-31-23 | | | 6.83 | | | (0.03 | )• | | 1.42 | | | | 1.39 | | | — | | | 0.01 | | | — | | | 0.01 | | | — | | | 8.21 | | | 20.42 | | | | 1.27 | | | 1.18 | | | 1.18 | | | (0.37 | ) | | 2,614 | | | 45 | |
| 12-31-22 | | | 12.57 | | | (0.04 | )• | | (2.87 | ) | | | (2.91 | ) | | — | | | 2.83 | | | — | | | 2.83 | | | — | | | 6.83 | | | (24.60 | ) | | | 1.26 | | | 1.18 | | | 1.18 | | | (0.41 | ) | | 2,207 | | | 29 | |
| 12-31-21 | | | 13.28 | | | (0.11 | )• | | 1.85 | | | | 1.74 | | | — | | | 2.45 | | | — | | | 2.45 | | | — | | | 12.57 | | | 13.28 | | | | 1.24 | | | 1.20 | | | 1.20 | | | (0.82 | ) | | 5,903 | | | 31 | |
| 12-31-20 | | | 11.08 | | | (0.05 | ) | | 3.31 | | | | 3.26 | | | 0.01 | | | 1.05 | | | — | | | 1.06 | | | — | | | 13.28 | | | 31.40 | | | | 1.27 | | | 1.20 | | | 1.20 | | | (0.46 | ) | | 6,833 | | | 53 | |
| 12-31-19 | | | 9.13 | | | (0.02 | ) | | 3.28 | | | | 3.26 | | | 0.03 | | | 1.28 | | | — | | | 1.31 | | | — | | | 11.08 | | | 36.69 | | | | 1.17 | | | 1.17 | | | 1.17 | | | (0.18 | ) | | 5,586 | | | 16 | |
| VY® T. Rowe Price Growth Equity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 69.78 | | | (0.27 | )• | | 14.65 | | | | 14.38 | | | — | | | — | | | — | | | — | | | — | | | 84.16 | | | 20.61 | | | | 1.31 | | | 1.22 | | | 1.22 | | | (0.71 | ) | | 320,264 | | | 17 | |
| 12-31-23 | | | 48.66 | | | (0.41 | )• | | 22.77 | | | | 22.36 | | | — | | | 1.24 | | | — | | | 1.24 | | | — | | | 69.78 | | | 46.18 | | | | 1.31 | | | 1.21 | | | 1.21 | | | (0.67 | ) | | 283,595 | | | 34 | |
| 12-31-22 | | | 102.35 | | | (0.54 | )• | | (38.71 | ) | | | (39.25 | ) | | — | | | 14.44 | | | — | | | 14.44 | | | — | | | 48.66 | | | (40.93 | ) | | | 1.30 | | | 1.23 | | | 1.23 | | | (0.81 | ) | | 210,945 | | | 30 | |
| 12-31-21 | | | 93.76 | | | (0.92 | )• | | 19.06 | | | | 18.14 | | | — | | | 9.55 | | | — | | | 9.55 | | | — | | | 102.35 | | | 19.54 | | | | 1.30 | | | 1.23 | | | 1.23 | | | (0.91 | ) | | 394,504 | | | 28 | |
| 12-31-20 | | | 71.90 | | | (0.61 | ) | | 25.93 | | | | 25.32 | | | — | | | 3.46 | | | — | | | 3.46 | | | — | | | 93.76 | | | 36.00 | | | | 1.31 | | | 1.23 | | | 1.23 | | | (0.75 | ) | | 362,950 | | | 36 | |
| 12-31-19 | | | 70.96 | | | (0.31 | ) | | 20.51 | | | | 20.20 | | | — | | | 19.26 | | | — | | | 19.26 | | | — | | | 71.90 | | | 30.15 | | | | 1.23 | | | 1.21 | | | 1.21 | | | (0.43 | ) | | 302,258 | | | 26 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 85.11 | | | (0.10 | )• | | 17.89 | | | | 17.79 | | | — | | | — | | | — | | | — | | | — | | | 102.90 | | | 20.91 | | | | 0.81 | | | 0.72 | | | 0.72 | | | (0.21 | ) | | 1,186,859 | | | 17 | |
| 12-31-23 | | | 58.86 | | | (0.12 | )• | | 27.61 | | | | 27.49 | | | — | | | 1.24 | | | — | | | 1.24 | | | — | | | 85.11 | | | 46.89 | | | | 0.81 | | | 0.71 | | | 0.71 | | | (0.17 | ) | | 1,110,625 | | | 34 | |
| 12-31-22 | | | 119.12 | | | (0.24 | )• | | (45.58 | ) | | | (45.82 | ) | | — | | | 14.44 | | | — | | | 14.44 | | | — | | | 58.86 | | | (40.66 | ) | | | 0.80 | | | 0.73 | | | 0.73 | | | (0.31 | ) | | 957,701 | | | 30 | |
| 12-31-21 | | | 107.26 | | | (0.48 | )• | | 21.89 | | | | 21.41 | | | — | | | 9.55 | | | — | | | 9.55 | | | — | | | 119.12 | | | 20.15 | | | | 0.80 | | | 0.73 | | | 0.73 | | | (0.41 | ) | | 1,742,542 | | | 28 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| VY® T. Rowe Price Growth Equity Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-20 | | | 81.43 | | | (0.24 | ) | | 29.53 | | | | 29.29 | | | — | | | 3.46 | | | — | | | 3.46 | | | — | | | 107.26 | | | 36.68 | | | | 0.81 | | | 0.73 | | | 0.73 | | | (0.25 | ) | | 1,506,472 | | | 36 | |
| 12-31-19 | | | 78.04 | | | 0.07 | | | 22.75 | | | | 22.82 | | | 0.17 | | | 19.26 | | | — | | | 19.43 | | | — | | | 81.43 | | | 30.83 | | | | 0.73 | | | 0.71 | | | 0.71 | | | 0.07 | | | 1,290,657 | | | 26 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 77.57 | | | (0.20 | )• | | 16.29 | | | | 16.09 | | | — | | | — | | | — | | | — | | | — | | | 93.66 | | | 20.75 | | | | 1.06 | | | 0.97 | | | 0.97 | | | (0.46 | ) | | 65,074 | | | 17 | |
| 12-31-23 | | | 53.85 | | | (0.28 | )• | | 25.24 | | | | 24.96 | | | — | | | 1.24 | | | — | | | 1.24 | | | — | | | 77.57 | | | 46.55 | | | | 1.06 | | | 0.96 | | | 0.96 | | | (0.42 | ) | | 54,637 | | | 34 | |
| 12-31-22 | | | 110.92 | | | (0.41 | )• | | (42.22 | ) | | | (42.63 | ) | | — | | | 14.44 | | | — | | | 14.44 | | | — | | | 53.85 | | | (40.81 | ) | | | 1.05 | | | 0.98 | | | 0.98 | | | (0.56 | ) | | 39,165 | | | 30 | |
| 12-31-21 | | | 100.68 | | | (0.72 | )• | | 20.51 | | | | 19.79 | | | — | | | 9.55 | | | — | | | 9.55 | | | — | | | 110.92 | | | 19.85 | | | | 1.05 | | | 0.98 | | | 0.98 | | | (0.66 | ) | | 72,845 | | | 28 | |
| 12-31-20 | | | 76.79 | | | (0.42 | )• | | 27.77 | | | | 27.35 | | | — | | | 3.46 | | | — | | | 3.46 | | | — | | | 100.68 | | | 36.36 | | | | 1.06 | | | 0.98 | | | 0.98 | | | (0.50 | ) | | 74,335 | | | 36 | |
| 12-31-19 | | | 74.54 | | | (0.15 | )• | | 21.66 | | | | 21.51 | | | — | | | 19.26 | | | — | | | 19.26 | | | — | | | 76.79 | | | 30.47 | | | | 0.98 | | | 0.96 | | | 0.96 | | | (0.18 | ) | | 65,359 | | | 26 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 72.33 | | | (0.24 | )• | | 15.19 | | | | 14.95 | | | — | | | — | | | — | | | — | | | — | | | 87.28 | | | 20.67 | | | | 1.21 | | | 1.12 | | | 1.12 | | | (0.61 | ) | | 6,064 | | | 17 | |
| 12-31-23 | | | 50.36 | | | (0.36 | )• | | 23.57 | | | | 23.21 | | | — | | | 1.24 | | | — | | | 1.24 | | | — | | | 72.33 | | | 46.30 | | | | 1.21 | | | 1.11 | | | 1.11 | | | (0.57 | ) | | 5,487 | | | 34 | |
| 12-31-22 | | | 105.14 | | | (0.49 | )• | | (39.85 | ) | | | (40.34 | ) | | — | | | 14.44 | | | — | | | 14.44 | | | — | | | 50.36 | | | (40.88 | ) | | | 1.20 | | | 1.13 | | | 1.13 | | | (0.71 | ) | | 3,544 | | | 30 | |
| 12-31-21 | | | 95.99 | | | (0.85 | )• | | 19.55 | | | | 18.70 | | | — | | | 9.55 | | | — | | | 9.55 | | | — | | | 105.14 | | | 19.68 | | | | 1.20 | | | 1.13 | | | 1.13 | | | (0.81 | ) | | 6,338 | | | 28 | |
| 12-31-20 | | | 73.47 | | | (0.51 | )• | | 26.49 | | | | 25.98 | | | — | | | 3.46 | | | — | | | 3.46 | | | — | | | 95.99 | | | 36.13 | | | | 1.21 | | | 1.13 | | | 1.13 | | | (0.64 | ) | | 5,735 | | | 36 | |
| 12-31-19 | | | 72.10 | | | (0.27 | )• | | 20.90 | | | | 20.63 | | | — | | | 19.26 | | | — | | | 19.26 | | | — | | | 73.47 | | | 30.27 | | | | 1.13 | | | 1.11 | | | 1.11 | | | (0.33 | ) | | 9,074 | | | 26 | |
| (1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized. |
| (2) | Annualized for periods less than one year. |
| (3) | Ratios reflect operating expenses of a Portfolio. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Portfolio during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Portfolio. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Ratios do not include expenses of underlying funds and do not include fees and expenses charged under the variable annuity contract or variable life insurance policy. |
| (5) | Ratios do not include expenses of the Underlying Funds. |
| * | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
See Accompanying Notes to Financial Statements
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited)
NOTE 1 — ORGANIZATION
Voya Partners, Inc. (the “Company”) is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). It was incorporated under the laws of Maryland on May 7, 1997. The Articles of Incorporation permit the Company to offer separate series, each of which has its own investment objective, policies and restrictions. The Company currently consists of thirty-seven active separate investment series. The twelve series (each, a “Portfolio” and collectively, the “Portfolios”) included in this report are: Voya Global Bond Portfolio (“Global Bond”), Voya Global Insights Portfolio (“Global Insights”), Voya International High Dividend Low Volatility Portfolio (“International High Dividend Low Volatility”), VY® American Century Small-Mid Cap Value Portfolio (“American Century Small-Mid Cap Value”), VY® Baron Growth Portfolio (“Baron Growth”), VY® Columbia Contrarian Core Portfolio (“Columbia Contrarian Core”), VY® Columbia Small Cap Value II Portfolio (“Columbia Small Cap Value II”), VY® Invesco Comstock Portfolio (“Invesco Comstock”), VY® Invesco Equity and Income Portfolio (“Invesco Equity and Income”), VY® JPMorgan Mid Cap Value Portfolio (“JPMorgan Mid Cap Value”), VY® T. Rowe Price Diversified Mid Cap Growth Portfolio (“T. Rowe Price Diversified Mid Cap Growth”) and VY® T. Rowe Price Growth Equity Portfolio (“T. Rowe Price Growth Equity”). Each Portfolio is a diversified series of the Company, except T. Rowe Price Growth Equity, which is non-diversified. The investment objective of the Portfolios is described in the respective Portfolio’s Prospectus.
The classes of shares included in this report are: Adviser (“Class ADV”), Initial (“Class I”), Class R6, Service (“Class S”) and Service 2 (“Class S2”); however, each Portfolio may not offer all share classes. Shares of the Portfolios may be offered to separate accounts (“Separate Accounts”) of insurance companies as investment options in connection with variable annuity contracts and variable life insurance policies (“Variable Contracts”) and to certain of the Portfolios’ investment advisers and their affiliates. In the future, shares may also be offered to qualified pension and retirement plans (“Qualified Plans”) outside the Separate Account context. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees, as well as differences in the amount of waiver of fees and reimbursement of expenses, if any. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/ losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between share
classes. Distributions are determined separately for each class based on income and expenses allocated to each class. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if any, as well as differences in the amount of waiver of fees and reimbursement of expenses between the separate classes, if any.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Portfolios. Voya Investment Management Co. LLC (“Voya IM”), a Delaware limited liability company, serves as the sub-adviser to Global Bond and International High Dividend Low Volatility. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Portfolios.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Portfolios are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.
The following significant accounting policies are consistently followed by the Portfolios in the preparation of their financial statements. Each Portfolio is considered an investment company under U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.
A. Security Valuation. Each Portfolio is open for business every day the New York Stock Exchange (“NYSE”) opens for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each class of each Portfolio is determined each Business Day as of the close of the regular trading session (“Market Close”), as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each class of each Portfolio is calculated by taking the value of the Portfolio’s assets attributable to that class, subtracting the Portfolio’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Portfolio is closed for business, Portfolio shares will not be priced and a Portfolio
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
does not transact purchase and redemption orders. To the extent a Portfolio’s assets are traded in other markets on days when a Portfolio does not price its shares, the value of a Portfolio’s assets will likely change and you will not be able to purchase or redeem shares of a Portfolio.
Portfolio securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered investment companies in which each Portfolio may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Foreign securities’ prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close.
When a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been halted or there are unexpected market closures or other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of other Portfolio assets, the asset is priced at its fair value. The Board has designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of each Portfolio’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Portfolio’s sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of an asset’s fair value. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent pricing service that are intended to reflect valuation changes through the NYSE close. Because of the inherent uncertainties of fair valuation, the values used to determine each Portfolio’s NAV may materially differ from the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Portfolio.
The Portfolios’ financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Various valuation techniques and inputs are used to
determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:
Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the portfolio can access at the reporting date.
Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).
Level 3 – unobservable inputs (including the portfolio’s own assumptions in determining fair value).
Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.
A table summarizing each Portfolio’s investments under these levels of classification is included within each Portfolio of Investments.
Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. The Portfolios classify each of their investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments held by the Underlying Funds. A table summarizing each Portfolio’s
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
investments under these levels of classification is included within the Portfolio of Investments.
GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Portfolio has a significant amount of Level 3 investments.
B. Securities Transactions and Revenue Recognition. Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date, or for certain foreign securities, when the information becomes available to the Portfolios. Premium amortization and discount accretion are determined by the effective yield method.
C. Foreign Currency Translation. The books and records of the Portfolios are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:
| (1) | Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at Market Close. |
| (2) | Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions. |
Although the net assets and the market values are presented at the foreign exchange rates at Market Close, the Portfolios do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments. For securities, which are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.
Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding tax reclaims recorded on each Portfolio’s books, and the U.S. dollar
equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments, which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities. The foregoing risks are even greater with respect to securities of issuers in emerging markets.
D. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. Dividends from net investment income, if any, are declared daily and paid monthly and net capital gains distributions, if any, are declared and paid annually by Global Bond. Dividends from net investment income, if any, are declared and paid semi-annually and net capital gains distributions, if any, are declared and paid annually by Invesco Comstock, Invesco Equity and Income, JPMorgan Mid Cap Value, T. Rowe Price Diversified Mid Cap Growth and T. Rowe Price Growth Equity. For all other Portfolios, dividends from net investment income and net capital gain distributions, if any, are declared and paid annually. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of subchapter M of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.
E. Federal Income Taxes. It is the policy of each Portfolio to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required. Management has considered the sustainability of the Portfolios’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.
The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
F. Use of Estimates. Management of the Portfolios has made certain estimates and assumptions relating to the reporting of assets, liabilities, income, and expenses to prepare these financial statements in conformity with GAAP for investment companies. Actual results could differ from these estimates.
G. Risk Exposures and the Use of Derivative Instruments. The Portfolios’ investment strategies permit the Portfolios to enter into various types of derivatives contracts, including, but not limited to, futures contracts, forward foreign currency exchange contracts, credit default swaps, interest rate swaps, total return swaps, and purchased and written options. In doing so, a Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow a Portfolio to pursue its objectives more quickly, and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.
In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:
Credit Risk. The price of a bond or other debt instrument is likely to fall if the issuer’s actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay its financial obligations altogether.
Equity Risk. Stock prices may be volatile or have reduced liquidity in response to real or perceived impacts of factors including, but not limited to, economic conditions, changes in market interest rates, and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Portfolio to achieve its investment objectives.
Foreign Exchange Rate Risk. To the extent that a Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency being hedged by a Portfolio through foreign currency exchange transactions.
Currency rates may fluctuate significantly over short periods of time. Currency rates may be affected by changes in market interest rates, intervention (or the failure to intervene) by U.S. or foreign governments central banks or supranational entities such as the International Monetary Fund, by the imposition of currency controls, or other political or economic developments in the United States or abroad.
Interest Rate Risk. A rise in market interest rates generally results in a fall in the value of bonds and other debt instruments; conversely, values generally rise as market interest rates fall. Interest rate risk is generally greater for debt instruments than floating-rate instruments. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is to changes in market interest rates. Duration is a measure of sensitivity of the price of a debt instrument to a change in interest rate. The U.S. has recently experienced a rising market interest rate environment, which may increase the Portfolios’ exposure to risks associated with rising market interest rates. Rising market interest rates have unpredictable effects on the markets and may expose debt and related markets to heightened volatility. To the extent that a mutual fund invests in debt instruments, an increase in market interest rates may lead to increased redemptions and increased portfolio turnover, which could reduce liquidity for certain investments, adversely affect values, and increase costs. Increased redemptions may cause a fund to liquidate portfolio positions when it may not be advantageous to do so and may lower returns. If dealer capacity in debt markets is insufficient for market conditions, it may further inhibit liquidity and increase volatility in debt markets. Further, recent and potential future changes in government policy may affect interest rates. Negative or very low interest rates could magnify the risks associated with changes in interest rates. In general, changing interest rates, including rates that fall below zero, could have unpredictable effects on markets and may expose debt and related markets to heightened volatility. Changes to monetary policy by the U.S. Federal Reserve Board or other regulatory actions could expose debt and related markets to heightened volatility, interest rate sensitivity, and reduced liquidity, which may impact operations and return potential.
Risks of Investing in Derivatives. A Portfolio’s use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where a Portfolio is using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Portfolio, there are also
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.
Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Portfolio. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Portfolio and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Portfolio may not realize the intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.
Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated over-the-counter (“OTC”), with a single counterparty and as a result are subject to credit risks related to the counterparty’s ability or willingness to perform its obligations; any deterioration in the counterparty’s creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Portfolio to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market’s movements and may have unexpected or undesired results such as a loss or a reduction in gains.
Counterparty Credit Risk and Credit Related Contingent Features. Certain derivative positions are subject to counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to a Portfolio. Each Portfolio’s derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. A Portfolio intends to enter into financial transactions with counterparties it believes to be creditworthy
at the time of the transaction. To reduce this risk, a Portfolio has entered into master netting arrangements, established within each Portfolio’s International Swap and Derivatives Association, Inc. (“ISDA”) Master Agreements (“Master Agreements”). These Master Agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by a Portfolio and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.
A Portfolio may also enter into collateral agreements with certain counterparties to further mitigate counterparty credit risk on OTC derivative and forward foreign currency contracts. Subject to established minimum levels, collateral is generally determined based on the net aggregate unrealized gain or loss on contracts with a certain counterparty. Collateral pledged to or from a Portfolio is held in a segregated account by a third-party agent and can be in the form of cash or debt securities issued by the U.S. government or related agencies.
As of June 30, 2024, the maximum amount of loss that Global Bond, Invesco Comstock and Invesco Equity and Income would incur if the counterparties to its derivative transactions failed to perform would be $308,830, $42,660 and $146,910 respectively, which represents the gross payments to be received by the Portfolios on open forward foreign currency contracts, forward premium swaptions and purchased options were they to be unwound as of June 30, 2024. There was no cash collateral received by any Portfolio at June 30, 2024.
Each Portfolio has credit related contingent features that if triggered would allow its derivative counterparties to close out and demand payment or additional collateral to cover their exposure from a Portfolio. Credit related contingent features are established between each Portfolio and their derivatives counterparties to reduce the risk that a Portfolio will not fulfill its payment obligations to its counterparties. These triggering features include, but are not limited to, a percentage decrease in a Portfolio’s net assets and/or a percentage decrease in a Portfolio’s NAV, which could cause a Portfolio to accelerate payment of any net liability owed to the counterparty. The contingent features are established within each Portfolio’s Master Agreements.
As of June 30, 2024, Global Bond, Invesco Comstock and Invesco Equity and Income had a liability position of $1,029,369, $5,152 and $29,194 respectively, on open forward foreign currency contracts, forward premium
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
swaptions, OTC interest rate swaps, OTC volatility swaps and OTC written options with credit related contingent features. If a contingent feature would have been triggered as of June 30, 2024, the Portfolios could have been required to pay this amount in cash to its counterparties. As of June 30, 2024, Global Bond had pledged $424,800 in cash collateral for open OTC derivatives transactions with its respective counterparties. There was no cash collateral pledged by any other Portfolio at June 30, 2024.
As of June 30, 2024, American Century Small-Mid Cap Value had not entered into any Master Agreements.
H. Forward Foreign Currency Contracts. Certain Portfolios may enter into forward foreign currency contracts primarily to hedge against foreign currency exchange rate risks on their non-U.S. dollar denominated investment securities. When entering into a forward currency contract, a Portfolio agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. These contracts are valued daily and a Portfolio’s net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is included in the Statement of Assets and Liabilities. Realized and unrealized gains and losses are included in the Statement of Operations. These instruments involve market and/or credit risk in excess of the amount recognized in the Statement of Assets and Liabilities. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movement in currency and securities values and interest rates. Open forward foreign currency contracts are presented following the Portfolio of Investments.
During the period ended June 30, 2024, the following Portfolios had average contract amounts on forward foreign currency contracts purchased and sold as disclosed below. There were no open forward foreign currency for Global Insights at June 30, 2024.
| | | Buy | | | Sell | |
| Global Bond | | $ | 69,103,307 | | | $ | 27,773,621 | |
| Global Insights | | | 2,618,465 | | | | — | |
| American Century Small-Mid Cap Value | | | 190,173 | | | | 17,116,608 | |
| Invesco Comstock | | | 99,744 | | | | 6,772,221 | |
| Invesco Equity and Income | | | 14,769,978 | | | | 34,895,935 | |
I. Futures Contracts. Certain Portfolios may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date.
A Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when each Portfolio’s assets are valued.
Upon entering into a futures contract, a Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by a Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses and, if any, shown as variation margin receivable or payable on futures contracts on the Statement of Assets and Liabilities. Open futures contracts are reported on a table following each Portfolio’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in the Statements of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the Statements of Operations. Realized gains (losses) are reported in the Statements of Operations at the closing or expiration of futures contracts.
Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the period ended June 30, 2024, Global Bond and Invesco Equity and Income had purchased (Global Bond only) and sold futures contracts on various notes and bonds as part of their respective duration strategy. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where each Portfolio is unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of each Portfolios’ securities. With futures, there is minimal counterparty credit risk to the Portfolios since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
During the period ended June 30, 2024, Global Bond and Invesco Equity and Income had an average notional value on futures contracts purchased and sold as disclosed below. Please refer to the table within the Portfolio of Investments for open futures contracts at June 30, 2024.
| | | Purchased | | | Sold | |
| Global Bond | | $ | 36,716,462 | | | $ | 7,317,817 | |
| Invesco Equity and Income | | | — | | | | 3,192,948 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
At June 30, 2024, Invesco Equity and Income had pledged U.S. Treasury Bills with an original par value of $100,000 as collateral for open futures contracts.
J. Securities Lending. Each Portfolio may temporarily loan up to 331⁄3% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender’s fee. Securities lending involves two primary risks: “investment risk” and “borrower default risk.” When lending securities, the Portfolios will receive cash or U.S. government securities as collateral. Investment risk is the risk that the Portfolios will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolios will lose money due to the failure of a borrower to return a borrowed security. Loans are subject to termination at the option of the borrower or the Portfolios. Securities lending may result in leverage. The use of leverage may exaggerate any increase or decrease in the NAV, causing the Portfolios to be more volatile. The use of leverage may increase expenses and increase the impact of the Portfolios’ other risks.
K. Restricted Securities. The Portfolios may invest in restricted securities which include those sold under Rule 144A of the Securities Act of 1933, as amended (“1933 Act”) or securities offered pursuant to Section 4(a)(2) of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.
Securities that are not registered for sale to the public under the 1933 Act are referred to as “restricted securities.” These securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed on an exchange nor traded in other established markets. Many times these securities are subject to legal or contractual restrictions on resale. As a result of the absence of a public trading market, the prices of these securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.
L. Delayed-Delivery and When-Issued Transactions. Certain Portfolios may purchase or sell securities on a when-issued or forward commitment basis. The price of the underlying securities and date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The fair value of such is identified in the Portfolios’ Portfolio of Investments. Losses may arise due to changes in the fair value of the securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Portfolios are required to hold liquid assets as collateral with the Portfolios’ custodian sufficient to cover the purchase price.
To mitigate counterparty risk, certain Portfolios have entered into Master Securities Forward Transaction Agreements (“MSFTA”) with their respective counterparties that provide for collateral and the right to offset amounts due to or from those counterparties under specified conditions. Subject to minimum transfer amounts, collateral requirements are determined and transfers made based on the net aggregate unrealized gain or loss on all the when-issued or delayed-delivery transactions with a particular counterparty. Cash collateral, if any, is presented on the Statement of Assets and Liabilities as an asset (Cash pledged as collateral for delayed-delivery or when-issued securities) and a liability (Cash received as collateral for delayed-delivery or when-issued securities). At June 30, 2024, Global Bond pledged $11,000 in cash collateral for open when-issued or delayed-delivery transactions.
M. Mortgage Dollar Roll Transactions. Certain Portfolios may engage in dollar roll transactions with respect to mortgage-backed securities issued by Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corp. In a dollar roll transaction, a Portfolio sells a mortgage-backed security to a financial institution, such as a bank or broker/dealer, and simultaneously agrees to repurchase a substantially similar (i.e., same type, coupon, and maturity) security from the institution on a delayed delivery basis at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different prepayment histories. The Portfolios account for dollar roll transactions as purchases and sales. For fee based dollar roll transactions, the fee is recorded as income.
N. Options Contracts. Certain Portfolios may purchase put and call options and may write (sell) put options and covered call options on futures, swaps (“swaptions”), securities, commodities or foreign currencies. The Portfolios may engage in option transactions as a hedge against adverse movements in the value of portfolio holdings or to increase market exposure. Option contracts are valued daily and unrealized gains or losses are recorded based upon the last
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
sales price on the principal exchange on which the options are traded. An amount equal to the proceeds of the premium received by the Portfolios upon the writing of a put or call option is included in the Statements of Assets and Liabilities as an asset and equivalent liability which is subsequently marked-to-market until it is exercised or closed, or it expires. Forward premium swaptions include premiums that have extended settlement dates. The delayed settlement of the premiums is factored into the daily valuation of the option contracts. Premiums received from writing options which expire are treated as realized gains. The Portfolios will realize a gain or loss upon the expiration or closing of the option contract. When an option is exercised, the proceeds on sales of the underlying security for a written call option, the purchase cost of the security for a written put option, or the cost of the security for a purchased put or call option is adjusted by the amount of premium received or paid. Realized and unrealized gains or losses on option contracts are reflected in the accompanying financial statements. The risk in writing a covered call option is that the Portfolios give up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in writing a put option is that the Portfolios may incur a loss if the market price of the security decreases and the option is exercised. The risk in buying an option is that the Portfolios pay a premium whether or not the option is exercised. Risks may also arise from an illiquid secondary market or from the inability of counterparties to meet the terms of the contract.
During the period ended June 30, 2024, Global Bond had purchased and written interest rate swaptions with an average notional value of $11,085,382 and $12,321,588, respectively, to gain additional exposure to interest rates and to generate income. Please refer to the tables within the Portfolio of Investments for open purchased and written interest swaptions at June 30, 2024.
During the period ended June 30, 2024, Global Bond had purchased and written foreign currency options with an average notional value of $7,718,020 and $4,292,431, respectively, to gain exposure to foreign currencies and to generate income. Please refer to the tables within the Portfolio of Investments for open purchased and written foreign currency options at June 30, 2024.
During the period ended June 30, 2024, Global Bond had purchased and written forward premium swaptions with an average notional value of $5,737,575 and $3,823,530, respectively, to manage duration and yield curve exposures and to generate income. Please refer to the tables within the Portfolio of Investments for open purchased and written forward premium swaptions at June 30, 2024.
During the period ended June 30, 2024, Global Bond had purchased and written exchange-traded options with an average notional value of $29,646,815 and $29,646,815, respectively, to manage duration and yield curve exposures and to generate income. Please refer to the tables following the Portfolios of Investments for open purchased and written exchange-traded options at June 30, 2024.
O. Swap Agreements. Certain Portfolios may enter into swap agreements. A swap is an agreement between two parties pursuant to which each party agrees to make one or more payments to the other at specified future intervals based on the return of an asset (such as a stock, bond or currency) or non-asset reference (such as an interest rate or index). Swap agreements are privately negotiated in the OTC market and may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“centrally cleared swaps”).
The swap agreement will specify the “notional” amount of the asset or non-asset reference to which the contract relates. Subsequent changes in fair value, if any, are calculated based upon changes in the performance of the asset or non-asset reference multiplied by the notional value of the contract. A Portfolio may enter into credit default, interest rate, total return and currency swaps to manage its exposure to credit, currency and interest rate risk. All outstanding swap agreements are reported following each Portfolio’s Portfolio of Investments.
Swaps are marked to market daily using quotations primarily from third party pricing services, registered commodities exchange(s), counterparties or brokers. The fair value of an OTC swap contract is recorded on each Portfolio’s Statements of Assets and Liabilities. Daily changes in the value of centrally cleared swaps, if any, are recorded as variation margin receivable or payable on the Statement of Assets and Liabilities. During the term of the swap, changes in the value of the swap, if any, are recorded as unrealized gains or losses on the Statements of Operations. Upfront payments paid or received on OTC swaps by a Portfolio when entering into the agreements are reported on the Statements of Assets and Liabilities and as a component of the changes in unrealized gains or losses on the Statements of Operations. These upfront payments represent the amounts paid or received when initially entering into the swap agreement to compensate for differences between the stated terms of the swap agreement and the prevailing market conditions. The upfront payments are included as a component in the realized gains or losses on each Portfolio’s Statement of Operations upon termination or maturity of the swap. A Portfolio also records net periodic payments paid or received on the swap contract as a realized gain or loss on the Statements of Operations.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (the “CCP”) and the Portfolio’s counterparty on the swap agreement becomes the CCP. The Portfolios are required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, the Portfolios are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are footnoted as pledged on the Portfolio of Investments and cash deposited is recorded on the Statements of Assets and Liabilities as cash pledged for centrally cleared swaps. The daily change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statements of Assets and Liabilities. Payments received from (paid to) the counterparty, including at termination, are recorded as realized gain (loss) on the Statements of Operations.
Entering into swap agreements involves the risk that the maximum potential loss of an investment exceeds the current value of the investment as reported on each Portfolio’s Statements of Assets and Liabilities. Other risks involve the possibility that the counterparty to the agreements may default on its obligation to perform, that there will be no liquid market for these investments and that unfavorable changes in the market will have a negative impact on the value of the index or securities underlying the respective swap agreement.
Credit Default Swap Contracts. A credit default swap is a bilateral agreement between counterparties in which the buyer of the protection agrees to make a stream of periodic payments to the seller of protection in exchange for the right to receive a specified return in the event of a default or other credit event for a referenced entity, obligation or index. As a seller of protection on credit default swaps, a Portfolio will generally receive from the buyer a fixed payment stream based on the notional amount of the swap contract. This fixed payment stream will continue until the swap contract expires or a defined credit event occurs.
A Portfolio is subject to credit risk in the normal course of pursuing its investment objectives. As a seller of protection in a credit default swap, a Portfolio may execute these contracts to manage its exposure to the market or certain sectors of the market. Certain Portfolios may also enter into credit default swaps to speculate on changes in an issuer’s credit quality, to take advantage of perceived spread advantages, or to offset an existing short equivalent (i.e. buying protection on an equivalent reference entity).
Certain Portfolios may sell credit default swaps which expose these Portfolios to the risk of loss from credit risk-related events specified in the contract. Although contract specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default or repudiation/moratorium. If a Portfolio is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Portfolio will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index. If a Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.
Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues are disclosed in each Portfolio’s Portfolio of Investments and serve as an indicator of the current status of the payment/ performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/ selling protection and may include upfront payments required to be made to enter into the agreement. For credit default swaps on asset-backed securities or credit indices, the quoted market prices and resulting fair values serve as the indicator of the current status of the payment/ performance risk. Wider credit spreads and increasing fair values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
The maximum amount of future payments (undiscounted) that a Portfolio as seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreements, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Portfolio for the same referenced entity or entities.
During the period ended June 30, 2024, Global Bond sold credit protection on credit default swap indices (“CDX”) with an average notional amount of $1,100,000 to gain exposure to the various sectors of the credit market. A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. There were no open credit default swaps to sell protection at June 30, 2024.
Interest Rate Swap Contracts. An interest rate swap involves the agreement between counterparties to exchange periodic payments based on interest rates. One payment will be based on a floating rate of a specified interest rate while the other will be a fixed rate. Risks involve the future fluctuations of interest rates in which a Portfolio may make payments that are greater than what a Portfolio received from the counterparty. Other risks include credit, liquidity and market risk.
For the period ended June 30, 2024, Global Bond had entered into interest rate swaps in which it pays a floating interest rate and receives a fixed interest rate (“Long interest rate swap”) in order to increase exposure to interest rate risk. Average notional amounts on long interest rate swaps was $24,456,986.
For the period ended June 30, 2024, Global Bond had entered into interest rate swaps in which it pays a fixed interest rate and receives a floating interest rate (“Short interest rate swap”) in order to decrease exposure to interest rate risk. Average notional amounts on short interest rate swaps was $63,997,776.
Global Bond entered into interest rate swaps to adjust interest rate and yield curve exposures and to substitute for physical fixed-income securities. Please refer to the tables within the Portfolio of Investments for Global Bond for open centrally cleared interest rate swaps at June 30, 2024.
At June 30, 2024, Global Bond had pledged $1,385,000 in cash collateral for open centrally cleared swaps.
Volatility Swap Contracts. Certain Portfolios may enter into volatility swaps. Volatility swaps are agreements in
which the counterparties agree to make payments in connection with changes in the volatility (i.e., the magnitude of change over a specified period of time) of an underlying referenced instrument, such as a currency, rate, index, security or other financial instrument. Volatility swaps permit the parties to attempt to hedge volatility risk and/or take positions on the projected future volatility of an underlying referenced instrument. As a receiver of the realized price volatility, the Portfolio would receive the payoff amount when the realized price volatility of the referenced instrument is greater than the strike and would owe the payoff amount when the volatility is less than the strike. As a payer of the realized price volatility, the Portfolio would owe the payoff amount when the realized price volatility of the referenced instrument is greater than the strike and would receive the payoff amount when the volatility is less than the strike.
During the period ended June 30, 2024, Global Bond had entered into receiver volatility swaps on foreign currencies with an average notional amount of $38,500. Please refer to the tables within the Portfolio of Investments for open volatility swaps at June 30, 2024.
Total Return Swap Contracts. Certain Portfolios may enter into total return swaps. Total return swaps are entered into to gain or mitigate exposure to the underlying reference asset. Total return swap agreements involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset and on a fixed or variable interest rate. Total return swap agreements may involve commitments to pay interest in exchange for a market-linked return. One counterparty pays out the total return of a specific underlying reference asset, which may include a single security, a basket of securities, or an index, and in return receives a fixed or variable rate. At the maturity date, a net cash flow is exchanged where the total return is equivalent to the return of the underlying reference asset less a financing rate, if any. As a receiver, a Portfolio would receive payments based on any net positive total return and would owe payments in the event of a net negative total return. As the payer, a Portfolio would owe payments on any net positive total return, and would receive payments in the event of a net negative total return. A Portfolio’s use of a total return swap exposes the Portfolio to credit loss in the event of nonperformance by the swap counterparty. Risk may also arise from the unanticipated movements in value of exchange rates, interest rates, securities, or the index.
For the period ended June 30, 2024, Global Bond did not enter into any total returns swaps.
P. Equity-Linked Notes. Invesco Equity and Income invests in equity-linked notes. Equity-linked notes are hybrid financial instruments that generally combine both debt and equity characteristics into a single note form. Income earned from equity-linked notes is recorded as Interest
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
income in the Statements of Operations and may be based on the performance of an underlying equity security, an equity index, or an option position. The Portfolio records the net change in the fair value of the equity-linked note on the accompanying Statements of Operations as a change in unrealized appreciation or depreciation on investments. The Portfolio records a realized gain or loss on the Statements of Operations upon the sale or maturity of the equity-linked note. The risks of investing in equity-linked notes include unfavorable price movements in the underlying security and the credit risk of the issuing financial institution. There may be no guarantee of a return of principal with equity-linked notes and the appreciation potential may be limited. Equity-linked notes may be more volatile and less liquid than other investments held by the Portfolio. Please refer to the Portfolio of Investments for open equity-linked notes at June 30, 2024.
Q. Structured Notes. Global Bond and Invesco Equity and Income invest in structured notes whose principal payments or interest payments are linked to the performance of underlying foreign currencies, interest rate spreads, stock market indices, prices of individual securities, commodities or other financial instruments or the occurrence of other specific events. The terms and conditions of these notes may be ’structured’ by the purchaser (a Portfolio) and the borrower issuing the note. The market value of these notes will increase or decrease based on the performance of the underlying asset or reference. A Portfolio records the net change in the market value of the structured note on the accompanying Statements of Operations as a change in unrealized appreciation or depreciation on investments. A Portfolio records a realized gain or loss on the Statements of Operations upon the sale or maturity of the structured note. There were no structured notes for either Global Bond and Invesco Equity and Income at June 30, 2024.
R. Indemnifications. In the normal course of business, the Company may enter into contracts that provide certain indemnifications. The Company’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.
NOTE 3 — INVESTMENT TRANSACTIONS
For the period ended June 30, 2024, the cost of purchases and the proceeds from the sales of securities, excluding U.S. government and short-term securities were as follows:
| | | Purchases | | | Sales | |
| Global Bond | | $ | 21,442,642 | | | $ | 24,553,631 | |
| Global Insights | | | 871,093,454 | | | | 978,245,590 | |
| International High Dividend Low Volatility | | | 110,645,009 | | | | 130,706,045 | |
| American Century Small-Mid Cap Value | | | 74,893,922 | | | | 97,050,955 | |
| Baron Growth | | | 1,052,200 | | | | 43,257,826 | |
| Columbia Contrarian Core | | | 18,205,392 | | | | 14,826,900 | |
| Columbia Small Cap Value II | | | 67,482,305 | | | | 95,379,566 | |
| Invesco Comstock | | | 19,284,648 | | | | 69,922,017 | |
| Invesco Equity and Income | | | 88,000,401 | | | | 165,717,845 | |
| JPMorgan Mid Cap Value | | | 23,681,503 | | | | 58,138,780 | |
| T. Rowe Price Diversified Mid Cap Growth | | | 172,413,572 | | | | 225,065,700 | |
| T. Rowe Price Growth Equity | | | 251,287,073 | | | | 468,321,099 | |
U.S. government securities not included above were as follows:
| | | Purchases | | | Sales | |
| Global Bond | | $ | 53,832,956 | | | $ | 54,040,186 | |
NOTE 4 — INVESTMENT MANAGEMENT FEES
The Portfolios have entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Portfolios. The Investment Adviser oversees all investment management and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates:
| Portfolio | | Fee |
| Global Bond(1) | | 0.600% on the first $4 billion; |
| | | 0.575% on the next $1 billion; |
| | | 0.550% on the next $1 billion; |
| | | 0.530% on assets over $6 billion |
| Global Insights(1) | | 0.70% on the first $3 billion; |
| | | 0.68% on the next $1 billion; |
| | | 0.67% on the next $4 billion; |
| | | 0.66% thereafter |
| International High Dividend Low Volatility | | 0.60% on all assets |
| American Century Small-Mid Cap Value | | 0.91% on all assets |
| Baron Growth | | 0.950% on the first $1 billion; |
| | | 0.925% on the next $1 billion; |
| | | 0.900% on assets over $2 billion |
| Columbia Contrarian Core(1) | | 0.90% on the first $500 million; |
| | | 0.85% on the next $500 million; |
| | | 0.80% on assets over $1 billion |
| Columbia Small Cap Value II(1) | | 0.85% on all assets |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 4 — INVESTMENT MANAGEMENT FEES (continued)
| Invesco Comstock | | 0.70% on all assets |
| Invesco Equity and Income(1) | | 0.65% on the first $750 million; |
| | | 0.63% on the next $250 million; |
| | | 0.61% on assets over $1 billion |
| JPMorgan Mid Cap Value(1) | | 0.85% on the first $500 million; |
| | | 0.75% on the next $500 million; |
| | | 0.70% on assets over $1 billion |
| T. Rowe Price Diversified Mid Cap Growth(2) | | 0.74% on all assets |
| T. Rowe Price Growth Equity(1) | | 0.70% on all assets |
| (1) | The Investment Adviser is contractually obligated to waive 0.003%, 0.05%, 0.048%, 0.027%, 0.01%, 0.025%, and 0.039% of the management fee for Global Bond, Global Insights, Columbia Contrarian Core, Columbia Small Cap Value II, Invesco Equity and Income, JPMorgan Mid Cap Value, and T. Rowe Price Growth Equity, respectively. Any fees waived or reimbursed are not eligible for recoupment. Termination or modification of this obligation requires approval by the Board. |
| (2) | Effective May 1, 2024, the Board approved the expiration of the 0.02% management fee waiver for T. Rowe Price Diversified Mid Cap Growth. Prior to May 1, 2024, the Investment Adviser was contractually obligated to waive 0.02% of the management fee. Any fees waived or reimbursed were not eligible for recoupment. |
The Investment Adviser has entered into a sub-advisory agreement with each respective sub-adviser. These sub-advisers provide investment advice for certain Portfolios and are paid by the Investment Adviser based on the average daily net assets of the respective Portfolios. Subject to such policies as the Board or the Investment Adviser may determine, the sub-advisers manage each respective Portfolio’s assets in accordance with the Portfolio’s investment objectives, policies, and limitations. The sub-advisers of the Portfolios are as follows (*denotes an affiliated sub-adviser):
| Portfolio | | Sub-Adviser |
| Global Bond, Global Insights & International High Dividend Low Volatility | | Voya Investment Management Co. LLC* |
| American Century Small-Mid Cap Value | | American Century Investment Management, Inc. |
| Baron Growth | | BAMCO, Inc. |
| Columbia Contrarian Core & Columbia Small Cap Value II | | Columbia Management Investment Advisers, LLC |
| Invesco Comstock & Invesco Equity and Income | | Invesco Advisers, Inc. |
| JPMorgan Mid Cap Value | | J.P. Morgan Investment Management Inc. |
| T. Rowe Price Diversified Mid Cap Growth & T. Rowe Price Growth Equity | | T. Rowe Price Associates, Inc. |
NOTE 5 — DISTRIBUTION AND SERVICE FEES
Class ADV and Class S2 shares of each respective Portfolio have a plan of distribution (the “Plan”), whereby the
Distributor is reimbursed or compensated by the Portfolios for expenses incurred in the distribution of each Portfolio’s shares. The Distributor may pay, on behalf of each Portfolio, out of its distribution fee, compensation to certain financial institutions for providing distribution assistance. Under the Plan, a Portfolio makes payments at an annual rate of 0.25% of the Portfolio’s average daily net assets attributable to its Class ADV shares and a Portfolio makes payments at an annual rate of 0.15% of the Portfolio’s average daily net assets attributable to its Class S2 shares. The Distributor has contractually agreed to waive 0.02% of the distribution fee for Class S2 shares of Invesco Equity and Income. This waiver is not eligible for recoupment. Termination or modification of this waiver requires approval by the Board.
Class ADV, Class S and Class S2 shares are further subject to a shareholder servicing fee payable to shareholder organizations pursuant to the shareholder servicing plan adopted for Class ADV, Class S and Class S2 shares which shall not exceed an annual rate of 0.25% of the average daily net assets of each class, respectively.
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At June 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. or affiliated investment companies owned more than 5% of the following Portfolios:
Subsidiary/Affiliated Investment Company | | Portfolio | | Percentage |
| ReliaStar Life Insurance Company | | Global Bond | | | 5.27 | % |
| | | Global Insights | | | 7.83 | |
| | | Invesco Comstock | | | 6.76 | |
| | | T. Rowe Price Diversified Mid Cap Growth | | | 11.63 | |
| Security Life of Denver Insurance Company | | Global Bond | | | 11.62 | |
| | | Columbia Small Cap Value II | | | 6.54 | |
| | | Invesco Comstock | | | 6.04 | |
| | | T. Rowe Price Diversified Mid Cap Growth | | | 5.17 | |
| | | | | | | |
| Voya Institutional Trust Company | | Global Bond | | | 14.16 | |
| | | Global Insights | | | 11.21 | |
| | | International High Dividend Low Volatility | | | 7.91 | |
| | | American Century Small-Mid Cap Value | | | 49.71 | |
| | | Baron Growth | | | 34.70 | |
| | | Columbia Contrarian Core | | | 54.74 | |
| | | Columbia Small Cap Value II | | | 18.82 | |
| | | Invesco Comstock | | | 13.68 | |
| | | JPMorgan Mid Cap Value | | | 31.96 | |
| | | T. Rowe Price Diversified Mid Cap Growth | | | 9.96 | |
| | | T. Rowe Price Growth Equity | | | 30.56 | |
| Voya Retirement Insurance and Annuity Company | | Global Bond | | | 66.92 | |
| | | Global Insights | | | 70.03 | |
| | | International High Dividend Low Volatility | | | 26.10 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)
Subsidiary/Affiliated Investment Company | | Portfolio | | Percentage |
| | | American Century Small-Mid Cap Value | | | 47.79 | |
| | | Baron Growth | | | 59.21 | |
| | | Columbia Contrarian Core | | | 40.21 | |
| | | Columbia Small Cap Value II | | | 28.31 | |
| | | Invesco Comstock | | | 44.99 | |
| | | Invesco Equity and Income | | | 37.37 | |
| | | JPMorgan Mid Cap Value | | | 36.77 | |
| | | T. Rowe Price Diversified Mid Cap Growth | | | 63.94 | |
| | | T. Rowe Price Growth Equity | | | 61.42 | |
| Voya Solution 2035 Portfolio | | Invesco Comstock | | | 5.25 | |
| Voya Solution 2045 Portfolio | | Invesco Comstock | | | 6.19 | |
| Voya Solution Moderately Aggressive Portfolio | | Invesco Comstock | | | 6.27 | |
The Investment Adviser may direct the Portfolios’ sub-advisers to use their best efforts (subject to obtaining best execution of each transaction) to allocate a Portfolio’s equity security transactions through certain designated broker-dealers. The designated broker-dealer, in turn, will reimburse a portion of the brokerage commissions to pay certain expenses of that Portfolio. Any amounts credited to the Portfolios are reflected as brokerage commission recapture on the accompanying Statements of Operations.
The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors, as described in the DC Plan, to defer the receipt of all or a portion of the directors’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director (the “Notional Funds”). When the Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’ deferred fees, this results in a Portfolio asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’ fees under the DC Plan will not affect net assets of the Portfolios, and will not materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Portfolios may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended June 30, 2024, the per account fees for affiliated recordkeeping services paid by each Portfolio were as follows:
| Portfolio | | Amount | |
| Global Insights | | $ | 664,543 | |
| International High Dividend Low Volatility | | | 126,828 | |
| American Century Small-Mid Cap Value | | | 273,868 | |
| Baron Growth | | | 296,125 | |
| Columbia Small Cap Value II | | | 67,078 | |
| Invesco Comstock | | | 78,851 | |
| Invesco Equity and Income | | | 272,455 | |
| JPMorgan Mid Cap Value | | | 166,656 | |
| T. Rowe Price Diversified Mid Cap Growth | | | 450,047 | |
| T. Rowe Price Growth Equity | | | 571,601 | |
NOTE 7 —EXPENSE LIMITATION AGREEMENTS
The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with the following Portfolios, whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses to the levels listed below:
| | | Class | | Class | | Class | | Class | | Class |
| Portfolio | | ADV | | I | | R6 | | S | | S2 |
| Global Bond | | 1.17% | | 0.67% | | N/A | | 0.92% | | N/A |
| Global Insights | | 1.30% | | 0.80% | | N/A | | 1.05% | | 1.20% |
| International High Dividend Low Volatility | | 1.25% | | 0.75% | | N/A | | 1.00% | | 1.15% |
| American Century Small-Mid Cap Value | | 1.35% | | 0.85% | | N/A | | 1.10% | | 1.25% |
| Baron Growth | | 1.49% | | 0.99% | | 0.99% | | 1.24% | | 1.39% |
| Columbia Contrarian Core(1) | | N/A | | N/A | | N/A | | N/A | | N/A |
| Columbia Small Cap Value II | | 1.45% | | 0.95% | | 0.95% | | 1.20% | | 1.35% |
| Invesco Comstock(2) | | N/A | | N/A | | N/A | | N/A | | N/A |
| Invesco Equity and Income | | 1.15% | | 0.65% | | N/A | | 0.90% | | 1.05% |
| JPMorgan Mid Cap Value | | 1.38% | | 0.88% | | N/A | | 1.13% | | 1.28% |
| T. Rowe Price Diversified Mid Cap Growth | | 1.30% | | 0.80% | | 0.80% | | 1.05% | | 1.20% |
| T. Rowe Price Growth Equity | | 1.25% | | 0.75% | | N/A | | 1.00% | | 1.15% |
| (1) | Pursuant to a side letter agreement, through May 1, 2025, the Investment Adviser has agreed to waive all or a portion of the management fee and/or reimburse expenses so that the expense limits are 1.25%, 0.75% and 1.00% for Class ADV, Class I and Class S, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board. |
| (2) | Pursuant to a side letter agreement, through May 1, 2025, the Investment Adviser has agreed to waive all or a portion of the management fee and/or reimburse expenses so that the expense limits are 1.20%, 0.70%, and 0.95% for Class ADV, Class I, and Class S, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board. |
Unless otherwise specified above and with the exception of the non-recoupable management fee waivers for certain Portfolios, the Investment Adviser may, at a later date, recoup from a Portfolio for fees waived and/or other expenses reimbursed by the Investment Adviser during the
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 7 —EXPENSE LIMITATION AGREEMENTS (continued)
previous 36 months, but only if, after such recoupment, a Portfolio’s expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.
As of June 30, 2024, the amounts of waived and/or reimbursed fees that are subject to possible recoupment by the Investment Adviser and the related expiration dates are as follows:
| | | June 30, | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Global Bond | | $ | 185,913 | | | $ | 104,965 | | | $ | 78,232 | | | $ | 369,110 | |
| Global Insights | | | 311,359 | | | | 365,540 | | | | — | | | | 676,899 | |
| American Century Small-Mid Cap Value | | | 998,001 | | | | 751,375 | | | | 304,708 | | | | 2,054,084 | |
| Invesco Equity and Income | | | 659,753 | | | | 585,829 | | | | 173,936 | | | | 1,419,518 | |
| JPMorgan Mid Cap Value | | | 402,785 | | | | 244,911 | | | | 37,631 | | | | 685,327 | |
| T. Rowe Price Growth Equity | | | 831,119 | | | | 409,571 | | | | — | | | | 1,240,690 | |
In addition to the above waived and/or reimbursed fees, the amount of class specific fees waived or reimbursed that are subject to possible recoupment by the Investment Adviser, and the related expiration dates, as of June 30, 2024, are as follows:
| | | June 30, | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Global Bond |
| Class ADV | | $ | — | | | $ | 8,529 | | | $ | 17,348 | | | $ | 25,877 | |
| Class I | | | — | | | | 49,715 | | | | 93,626 | | | | 143,341 | |
| Class S | | | — | | | | 13,338 | | | | 27,123 | | | | 40,461 | |
| Global Insights |
| Class ADV | | $ | — | | | $ | 35,827 | | | $ | 60,627 | | | $ | 96,454 | |
| Class I | | | — | | | | 314,070 | | | | 474,616 | | | | 788,686 | |
| Class S | | | — | | | | 40,990 | | | | 63,285 | | | | 104,275 | |
| Class S2 | | | — | | | | 776 | | | | 1,512 | | | | 2,288 | |
| American Century Small-Mid Cap Value |
| Class ADV | | $ | — | | | $ | 89,438 | | | $ | 179,099 | | | $ | 268,537 | |
| Class I | | | — | | | | 130,733 | | | | 220,493 | | | | 351,226 | |
| Class S | | | — | | | | 80,925 | | | | 148,455 | | | | 229,380 | |
| Class S2 | | | — | | | | 1,513 | | | | 3,150 | | | | 4,663 | |
| Baron Growth |
| Class ADV | | $ | 104,977 | | | $ | 126,344 | | | $ | 131,698 | | | $ | 363,019 | |
| Class I | | | 132,224 | | | | 154,003 | | | | 154,671 | | | | 440,898 | |
| Class S | | | 213,232 | | | | 258,428 | | | | 262,079 | | | | 733,739 | |
| Class S2 | | | 2,063 | | | | 2,593 | | | | 2,778 | | | | 7,434 | |
| Columbia Small Cap Value II |
| Class ADV | | $ | 6,312 | | | $ | 15,794 | | | $ | 10,151 | | | $ | 32,257 | |
| | | June 30, | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Class I | | | 8,076 | | | | 24,519 | | | | 19,215 | | | | 51,810 | |
| Class S | | | 15,311 | | | | 39,713 | | | | 28,167 | | | | 83,191 | |
| Class S2 | | | 294 | | | | 868 | | | | 679 | | | | 1,841 | |
| Invesco Equity and Income |
| Class ADV | | $ | — | | | $ | 10,118 | | | $ | 21,483 | | | $ | 31,601 | |
| Class I | | | — | | | | 100,126 | | | | 219,261 | | | | 319,387 | |
| Class S | | | — | | | | 79,529 | | | | 167,425 | | | | 246,954 | |
| Class S2 | | | — | | | | 61,541 | | | | 131,838 | | | | 193,379 | |
| JPMorgan Mid Cap Value |
| Class ADV | | $ | — | | | $ | 42,017 | | | $ | 93,860 | | | $ | 135,877 | |
| Class I | | | — | | | | 56,939 | | | | 116,578 | | | | 173,517 | |
| Class S | | | — | | | | 81,083 | | | | 172,474 | | | | 253,557 | |
| Class S2 | | | — | | | | 399 | | | | 958 | | | | 1,357 | |
| T. Rowe Price Diversified Mid Cap Growth |
| Class ADV | | $ | 24,189 | | | $ | 37,922 | | | $ | 39,653 | | | $ | 101,764 | |
| Class I | | | 392,141 | | | | 573,327 | | | | 521,062 | | | | 1,486,530 | |
| Class S | | | 14,422 | | | | 19,037 | | | | 17,618 | | | | 51,077 | |
| Class S2 | | | 2,042 | | | | 1,673 | | | | 1,620 | | | | 5,335 | |
| T. Rowe Price Growth Equity |
| Class ADV | | $ | — | | | $ | 89,001 | | | $ | 143,620 | | | $ | 232,621 | |
| Class I | | | — | | | | 397,399 | | | | 573,609 | | | | 971,008 | |
| Class S | | | — | | | | 16,649 | | | | 28,263 | | | | 44,912 | |
| Class S2 | | | — | | | | 1,499 | | | | 2,678 | | | | 4,177 | |
The Expense Limitation Agreement is contractual through May 1, 2025 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.
NOTE 8 — LINE OF CREDIT
Effective June 10, 2024, the Portfolios, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York Mellon (“BNY”) for an aggregate amount of $400,000,000 through June 9, 2025. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Portfolio or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2024, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 8 — LINE OF CREDIT (continued)
The below Portfolios utilized the line of credit during the period ended June 30, 2024 as follows:
| Portfolio | | Days Utilized | | | Approximate Average Daily Balance For Days Utilized | | | Approximate Weighted Average Interest Rate For Days Utilized |
| Global Insights | | 4 | | | $ | 6,420,500 | | | | 6.33 | % |
| International High Dividend Low Volatility(1) | | 7 | | | | 3,170,714 | | | | 6.33 | |
| American Century Small-Mid Cap Value | | 2 | | | | 12,291,500 | | | | 6.33 | |
| Baron Growth | | 29 | | | | 2,926,448 | | | | 6.33 | |
| Columbia Small Cap Value II | | 1 | | | | 2,075,000 | | | | 6.33 | |
| JPMorgan Mid Cap Value | | 1 | | | | 11,255,000 | | | | 6.33 | |
| T. Rowe Price Diversified Mid Cap Growth | | 5 | | | | 921,800 | | | | 6.33 | |
| T. Rowe Price Growth Equity | | 17 | | | | 3,895,000 | | | | 6.33 | |
| (1) | As of June 30, 2024, International High Dividend Low Volatility had an outstanding balance of $4,333,000. |
NOTE 9 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
| | | | | | | | | | | | | | | | | | Net | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | increase | | | | | | Proceeds | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | (decrease) | | | | | | from | | | | | | | | | | | | | |
| | | | | | Shares | | | Reinvestment | | | | | | | | | in | | | | | | shares | | | Reinvestment | | | | | | | | | | |
| | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | shares | | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | Net increase | |
| | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | outstanding | | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | (decrease) | |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Global Bond |
| Class ADV |
| 6/30/2024 | | 41,888 | | | — | | | 31,984 | | | (100,611 | ) | | — | | | (26,739 | ) | | 333,347 | | | — | | | 253,542 | | | (801,626 | ) | | — | | | (214,737 | ) |
| 12/31/2023 | | 37,635 | | | — | | | 56,019 | | | (200,930 | ) | | — | | | (107,276 | ) | | 300,938 | | | — | | | 446,586 | | | (1,604,875 | ) | | — | | | (857,351 | ) |
| Class I |
| 6/30/2024 | | 132,224 | | | — | | | 199,153 | | | (1,026,465 | ) | | — | | | (695,088 | ) | | 1,076,297 | | | — | | | 1,608,743 | | | (8,377,400 | ) | | — | | | (5,692,360 | ) |
| 12/31/2023 | | 247,490 | | | — | | | 368,221 | | | (1,228,383 | ) | | — | | | (612,672 | ) | | 2,012,232 | | | — | | | 2,992,012 | | | (9,978,513 | ) | | — | | | (4,974,269 | ) |
| Class S |
| 6/30/2024 | | 359,162 | | | — | | | 55,348 | | | (147,257 | ) | | — | | | 267,253 | | | 2,873,348 | | | — | | | 446,272 | | | (1,188,225 | ) | | — | | | 2,131,395 | |
| 12/31/2023 | | 223,350 | | | — | | | 92,279 | | | (403,641 | ) | | — | | | (88,012 | ) | | 1,815,391 | | | — | | | 748,872 | | | (3,275,289 | ) | | — | | | (711,026 | ) |
| Global Insights |
| Class ADV |
| 6/30/2024 | | 31,839 | | | — | | | — | | | (520,739 | ) | | — | | | (488,900 | ) | | 530,816 | | | — | | | — | | | (8,611,011 | ) | | — | | | (8,080,195 | ) |
| 12/31/2023 | | 302,335 | | | — | | | 845,062 | | | (810,694 | ) | | — | | | 336,703 | | | 4,703,649 | | | — | | | 12,912,543 | | | (12,623,473 | ) | | — | | | 4,992,719 | |
| Class I |
| 6/30/2024 | | 57,528 | | | — | | | — | | | (4,292,950 | ) | | — | | | (4,235,422 | ) | | 1,054,762 | | | — | | | — | | | (78,147,300 | ) | | — | | | (77,092,538 | ) |
| 12/31/2023 | | 547,550 | | | — | | | 5,861,561 | | | (10,285,474 | ) | | — | | | (3,876,363 | ) | | 9,614,255 | | | — | | | 98,532,842 | | | (176,758,250 | ) | | — | | | (68,611,153 | ) |
| Class S |
| 6/30/2024 | | 61,424 | | | — | | | — | | | (928,948 | ) | | — | | | (867,524 | ) | | 1,034,133 | | | — | | | — | | | (15,720,759 | ) | | — | | | (14,686,626 | ) |
| 12/31/2023 | | 360,249 | | | — | | | 918,440 | | | (1,253,250 | ) | | — | | | 25,439 | | | 5,773,369 | | | — | | | 14,309,296 | | | (19,973,569 | ) | | — | | | 109,096 | |
| Class S2 |
| 6/30/2024 | | 9,912 | | | — | | | — | | | (8,189 | ) | | — | | | 1,723 | | | 158,150 | | | — | | | — | | | (129,434 | ) | | — | | | 28,716 | |
| 12/31/2023 | | 18,532 | | | — | | | 19,456 | | | (36,560 | ) | | — | | | 1,428 | | | 280,116 | | | — | | | 286,385 | | | (550,638 | ) | | — | | | 15,863 | |
| International High Dividend Low Volatility |
| Class ADV |
| 6/30/2024 | | 98,491 | | | — | | | — | | | (155,834 | ) | | — | | | (57,343 | ) | | 996,700 | | | — | | | — | | | (1,542,919 | ) | | — | | | (546,219 | ) |
| 12/31/2023 | | 136,918 | | | — | | | 104,922 | | | (443,605 | ) | | — | | | (201,765 | ) | | 1,290,521 | | | — | | | 969,483 | | | (4,160,385 | ) | | — | | | (1,900,381 | ) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | | | | | | | | | | | | | | | | Net | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | increase | | | | | | Proceeds | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | (decrease) | | | | | | from | | | | | | | | | | | | | |
| | | | | | Shares | | | Reinvestment | | | | | | | | | in | | | | | | shares | | | Reinvestment | | | | | | | | | | |
| | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | shares | | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | Net increase | |
| | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | outstanding | | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | (decrease) | |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| International High Dividend Low Volatility (continued) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 83,949 | | | — | | | — | | | (964,098 | ) | | — | | | (880,149 | ) | | 852,722 | | | — | | | — | | | (9,812,429 | ) | | — | | | (8,959,707 | ) |
| 12/31/2023 | | 368,253 | | | — | | | 502,075 | | | (2,002,600 | ) | | — | | | (1,132,272 | ) | | 3,547,115 | | | — | | | 4,689,379 | | | (19,146,153 | ) | | — | | | (10,909,659 | ) |
| Class S |
| 6/30/2024 | | 212,866 | | | — | | | — | | | (2,330,409 | ) | | — | | | (2,117,543 | ) | | 2,107,278 | | | — | | | — | | | (23,593,394 | ) | | — | | | (21,486,116 | ) |
| 12/31/2023 | | 216,540 | | | — | | | 894,604 | | | (4,177,484 | ) | | — | | | (3,066,340 | ) | | 2,070,918 | | | — | | | 8,310,875 | | | (39,247,000 | ) | | — | | | (28,865,207 | ) |
| Class S2 |
| 6/30/2024 | | 155 | | | — | | | — | | | (120 | ) | | — | | | 35 | | | 1,576 | | | — | | | — | | | (1,181 | ) | | — | | | 395 | |
| 12/31/2023 | | 834 | | | — | | | 671 | | | (25,714 | ) | | — | | | (24,209 | ) | | 8,013 | | | — | | | 6,328 | | | (246,828 | ) | | — | | | (232,487 | ) |
| American Century Small-Mid Cap Value |
| Class ADV |
| 6/30/2024 | | 306,920 | | | — | | | — | | | (567,304 | ) | | — | | | (260,384 | ) | | 3,119,697 | | | — | | | — | | | (5,716,201 | ) | | — | | | (2,596,504 | ) |
| 12/31/2023 | | 893,283 | | | — | | | 1,484,478 | | | (1,355,078 | ) | | — | | | 1,022,683 | | | 8,978,713 | | | — | | | 14,503,355 | | | (14,058,825 | ) | | — | | | 9,423,243 | |
| Class I |
| 6/30/2024 | | 554,342 | | | — | | | — | | | (1,966,656 | ) | | — | | | (1,412,314 | ) | | 6,301,130 | | | — | | | — | | | (22,139,747 | ) | | — | | | (15,838,617 | ) |
| 12/31/2023 | | 746,543 | | | — | | | 1,652,891 | | | (4,855,328 | ) | | — | | | (2,455,894 | ) | | 8,583,771 | | | — | | | 17,999,983 | | | (58,293,059 | ) | | — | | | (31,709,305 | ) |
| Class S |
| 6/30/2024 | | 47,296 | | | — | | | — | | | (737,571 | ) | | — | | | (690,275 | ) | | 524,053 | | | — | | | — | | | (8,054,675 | ) | | — | | | (7,530,622 | ) |
| 12/31/2023 | | 390,910 | | | — | | | 1,101,948 | | | (1,307,514 | ) | | — | | | 185,344 | | | 4,132,754 | | | — | | | 11,724,728 | | | (14,776,437 | ) | | — | | | 1,081,045 | |
| Class S2 |
| 6/30/2024 | | 13,037 | | | — | | | — | | | (18,809 | ) | | — | | | (5,772 | ) | | 131,243 | | | — | | | — | | | (189,544 | ) | | — | | | (58,301 | ) |
| 12/31/2023 | | 34,607 | | | — | | | 25,807 | | | (32,563 | ) | | — | | | 27,851 | | | 344,616 | | | — | | | 252,395 | | | (330,283 | ) | | — | | | 266,728 | |
| Baron Growth |
| Class ADV |
| 6/30/2024 | | 100,101 | | | — | | | — | | | (332,187 | ) | | — | | | (232,086 | ) | | 2,007,518 | | | — | | | — | | | (6,739,453 | ) | | — | | | (4,731,935 | ) |
| 12/31/2023 | | 215,960 | | | — | | | 360,524 | | | (551,070 | ) | | — | | | 25,414 | | | 4,380,977 | | | — | | | 7,127,554 | | | (10,987,543 | ) | | — | | | 520,988 | |
| Class I |
| 6/30/2024 | | 91,092 | | | — | | | — | | | (480,360 | ) | | — | | | (389,268 | ) | | 2,420,797 | | | — | | | — | | | (12,825,770 | ) | | — | | | (10,404,973 | ) |
| 12/31/2023 | | 249,617 | | | — | | | 256,390 | | | (779,343 | ) | | — | | | (273,336 | ) | | 6,482,433 | | | — | | | 6,599,482 | | | (20,075,571 | ) | | — | | | (6,993,656 | ) |
| Class R6 |
| 6/30/2024 | | 69,842 | | | — | | | — | | | (218,728 | ) | | — | | | (148,886 | ) | | 1,853,687 | | | — | | | — | | | (5,814,824 | ) | | — | | | (3,961,137 | ) |
| 12/31/2023 | | 246,586 | | | — | | | 79,787 | | | (370,604 | ) | | — | | | (44,231 | ) | | 6,394,014 | | | — | | | 2,056,896 | | | (9,577,886 | ) | | — | | | (1,126,976 | ) |
| Class S |
| 6/30/2024 | | 18,689 | | | — | | | — | | | (929,573 | ) | | — | | | (910,884 | ) | | 441,331 | | | — | | | — | | | (21,619,672 | ) | | — | | | (21,178,341 | ) |
| 12/31/2023 | | 269,725 | | | — | | | 558,642 | | | (884,833 | ) | | — | | | (56,466 | ) | | 6,154,897 | | | — | | | 12,764,976 | | | (20,346,317 | ) | | — | | | (1,426,444 | ) |
| Class S2 |
| 6/30/2024 | | 5,063 | | | — | | | — | | | (11,506 | ) | | — | | | (6,443 | ) | | 106,618 | | | — | | | — | | | (248,632 | ) | | — | | | (142,014 | ) |
| 12/31/2023 | | 11,215 | | | — | | | 7,187 | | | (17,758 | ) | | — | | | 644 | | | 231,372 | | | — | | | 146,175 | | | (370,193 | ) | | — | | | 7,354 | |
| Columbia Contrarian Core |
| Class ADV |
| 6/30/2024 | | 419,590 | | | — | | | — | | | (117,518 | ) | | — | | | 302,072 | | | 5,513,317 | | | — | | | — | | | (1,547,003 | ) | | — | | | 3,966,314 | |
| 12/31/2023 | | 357,496 | | | — | | | 904,196 | | | (189,423 | ) | | — | | | 1,072,269 | | | 4,570,981 | | | — | | | 10,045,623 | | | (2,592,080 | ) | | — | | | 12,024,524 | |
| Class I |
| 6/30/2024 | | 49,778 | | | — | | | — | | | (45,606 | ) | | — | | | 4,172 | | | 773,985 | | | — | | | — | | | (690,788 | ) | | — | | | 83,197 | |
| 12/31/2023 | | 37,844 | | | — | | | 165,860 | | | (67,060 | ) | | — | | | 136,644 | | | 559,205 | | | — | | | 2,181,053 | | | (1,012,956 | ) | | — | | | 1,727,302 | |
| Class S |
| 6/30/2024 | | 73,092 | | | — | | | — | | | (106,387 | ) | | — | | | (33,295 | ) | | 1,062,291 | | | — | | | — | | | (1,537,264 | ) | | — | | | (474,973 | ) |
| 12/31/2023 | | 202,617 | | | — | | | 589,135 | | | (128,435 | ) | | — | | | 663,317 | | | 2,755,433 | | | — | | | 7,275,819 | | | (1,916,156 | ) | | — | | | 8,115,096 | |
| Columbia Small Cap Value II |
| Class ADV |
| 6/30/2024 | | 45,052 | | | — | | | — | | | (195,102 | ) | | — | | | (150,050 | ) | | 725,025 | | | — | | | — | | | (3,131,153 | ) | | — | | | (2,406,128 | ) |
| 12/31/2023 | | 90,659 | | | — | | | 118,403 | | | (552,413 | ) | | — | | | (343,351 | ) | | 1,384,253 | | | — | | | 1,830,517 | | | (8,450,024 | ) | | — | | | (5,235,254 | ) |
| Class I |
| 6/30/2024 | | 104,627 | | | — | | | — | | | (1,011,932 | ) | | — | | | (907,305 | ) | | 1,766,573 | | | — | | | — | | | (17,380,560 | ) | | — | | | (15,613,987 | ) |
| 12/31/2023 | | 705,455 | | | — | | | 238,302 | | | (746,933 | ) | | — | | | 196,824 | | | 12,041,159 | | | — | | | 3,879,556 | | | (11,899,099 | ) | | — | | | 4,021,616 | |
| Class R6 |
| 6/30/2024 | | 33,399 | | | — | | | — | | | (61,396 | ) | | — | | | (27,997 | ) | | 572,638 | | | — | | | — | | | (1,053,678 | ) | | — | | | (481,040 | ) |
| 12/31/2023 | | 161,398 | | | — | | | 49,569 | | | (313,298 | ) | | — | | | (102,331 | ) | | 2,667,770 | | | — | | | 808,468 | | | (5,147,056 | ) | | — | | | (1,670,818 | ) |
| Class S |
| 6/30/2024 | | 27,140 | | | — | | | — | | | (444,139 | ) | | — | | | (416,999 | ) | | 468,348 | | | — | | | — | | | (7,543,340 | ) | | — | | | (7,074,992 | ) |
| 12/31/2023 | | 111,159 | | | — | | | 312,492 | | | (855,756 | ) | | — | | | (432,105 | ) | | 1,808,250 | | | — | | | 5,065,500 | | | (13,723,543 | ) | | — | | | (6,849,793 | ) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | | | | | | | | | | | | | | | | Net | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | increase | | | | | | Proceeds | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | (decrease) | | | | | | from | | | | | | | | | | | | | |
| | | | | | Shares | | | Reinvestment | | | | | | | | | in | | | | | | shares | | | Reinvestment | | | | | | | | | | |
| | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | shares | | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | Net increase | |
| | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | outstanding | | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | (decrease) | |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Columbia Small Cap Value II (continued) |
| Class S2 |
| 6/30/2024 | | 5,429 | | | — | | | — | | | (11,800 | ) | | — | | | (6,371 | ) | | 88,455 | | | — | | | — | | | (189,151 | ) | | — | | | (100,696 | ) |
| 12/31/2023 | | 13,469 | | | — | | | 7,734 | | | (19,318 | ) | | — | | | 1,885 | | | 207,275 | | | — | | | 119,642 | | | (299,110 | ) | | — | | | 27,807 | |
| Invesco Comstock |
| Class ADV |
| 6/30/2024 | | 8,960 | | | — | | | — | | | (110,219 | ) | | — | | | (101,259 | ) | | 187,470 | | | — | | | — | | | (2,296,769 | ) | | — | | | (2,109,299 | ) |
| 12/31/2023 | | 43,305 | | | — | | | 224,703 | | | (363,065 | ) | | — | | | (95,057 | ) | | 865,880 | | | — | | | 4,366,152 | | | (7,460,788 | ) | | — | | | (2,228,756 | ) |
| Class I |
| 6/30/2024 | | 211,736 | | | — | | | — | | | (2,136,592 | ) | | — | | | (1,924,856 | ) | | 4,494,438 | | | — | | | — | | | (45,742,498 | ) | | — | | | (41,248,060 | ) |
| 12/31/2023 | | 777,097 | | | — | | | 993,911 | | | (1,820,337 | ) | | — | | | (49,329 | ) | | 16,251,531 | | | — | | | 19,603,597 | | | (37,849,061 | ) | | — | | | (1,993,933 | ) |
| Class S |
| 6/30/2024 | | 32,382 | | | — | | | — | | | (226,923 | ) | | — | | | (194,541 | ) | | 699,609 | | | — | | | — | | | (4,797,801 | ) | | — | | | (4,098,192 | ) |
| 12/31/2023 | | 150,540 | | | — | | | 638,163 | | | (542,827 | ) | | — | | | 245,876 | | | 3,117,237 | | | — | | | 12,583,981 | | | (11,065,733 | ) | | — | | | 4,635,485 | |
| Invesco Equity and Income |
| Class ADV |
| 6/30/2024 | | 37,307 | | | — | | | — | | | (76,256 | ) | | — | | | (38,949 | ) | | 1,576,983 | | | — | | | — | | | (3,183,545 | ) | | — | | | (1,606,562 | ) |
| 12/31/2023 | | 65,763 | | | — | | | 75,787 | | | (233,638 | ) | | — | | | (92,088 | ) | | 2,624,501 | | | — | | | 3,002,847 | | | (9,325,668 | ) | | — | | | (3,698,320 | ) |
| Class I |
| 6/30/2024 | | 35,612 | | | — | | | — | | | (914,709 | ) | | — | | | (879,097 | ) | | 1,543,322 | | | — | | | — | | | (39,519,638 | ) | | — | | | (37,976,316 | ) |
| 12/31/2023 | | 84,350 | | | — | | | 787,317 | | | (1,157,184 | ) | | — | | | (285,517 | ) | | 3,469,257 | | | — | | | 32,095,901 | | | (47,480,505 | ) | | — | | | (11,915,347 | ) |
| Class S |
| 6/30/2024 | | 24,984 | | | — | | | — | | | (656,038 | ) | | — | | | (631,054 | ) | | 1,044,501 | | | — | | | — | | | (27,965,166 | ) | | — | | | (26,920,665 | ) |
| 12/31/2023 | | 89,237 | | | — | | | 600,863 | | | (1,570,148 | ) | | — | | | (880,048 | ) | | 3,675,030 | | | — | | | 24,208,138 | | | (63,450,854 | ) | | — | | | (35,567,686 | ) |
| Class S2 |
| 6/30/2024 | | 6,201 | | | — | | | — | | | (527,185 | ) | | — | | | (520,984 | ) | | 261,899 | | | — | | | — | | | (22,013,592 | ) | | — | | | (21,751,693 | ) |
| 12/31/2023 | | 67,551 | | | — | | | 481,539 | | | (1,024,600 | ) | | — | | | (475,510 | ) | | 2,710,328 | | | — | | | 18,987,426 | | | (40,773,086 | ) | | — | | | (19,075,332 | ) |
| JPMorgan Mid Cap Value |
| Class ADV |
| 6/30/2024 | | 124,012 | | | — | | | — | | | (391,421 | ) | | — | | | (267,409 | ) | | 1,828,765 | | | — | | | — | | | (5,818,695 | ) | | — | | | (3,989,930 | ) |
| 12/31/2023 | | 127,480 | | | — | | | 592,642 | | | (907,497 | ) | | — | | | (187,375 | ) | | 1,794,853 | | | — | | | 8,189,523 | | | (12,826,000 | ) | | — | | | (2,841,624 | ) |
| Class I |
| 6/30/2024 | | 127,398 | | | — | | | — | | | (1,491,761 | ) | | — | | | (1,364,363 | ) | | 1,996,979 | | | — | | | — | | | (23,659,599 | ) | | — | | | (21,662,620 | ) |
| 12/31/2023 | | 302,752 | | | — | | | 754,255 | | | (1,646,115 | ) | | — | | | (589,108 | ) | | 4,583,753 | | | — | | | 11,031,784 | | | (24,430,515 | ) | | — | | | (8,814,978 | ) |
| Class S |
| 6/30/2024 | | 49,541 | | | — | | | — | | | (852,967 | ) | | — | | | (803,426 | ) | | 754,655 | | | — | | | — | | | (13,060,989 | ) | | — | | | (12,306,334 | ) |
| 12/31/2023 | | 137,624 | | | — | | | 1,044,789 | | | (2,086,973 | ) | | — | | | (904,560 | ) | | 1,978,395 | | | — | | | 14,959,142 | | | (30,828,503 | ) | | — | | | (13,890,966 | ) |
| Class S2 |
| 6/30/2024 | | 2,015 | | | — | | | — | | | (2,919 | ) | | — | | | (904 | ) | | 29,507 | | | — | | | — | | | (43,600 | ) | | — | | | (14,093 | ) |
| 12/31/2023 | | 6,108 | | | — | | | 5,912 | | | (7,180 | ) | | — | | | 4,840 | | | 86,465 | | | — | | | 81,614 | | | (98,617 | ) | | — | | | 69,462 | |
| T. Rowe Price Diversified Mid Cap Growth |
| Class ADV |
| 6/30/2024 | | 306,582 | | | — | | | — | | | (499,968 | ) | | — | | | (193,386 | ) | | 2,612,517 | | | — | | | — | | | (4,287,301 | ) | | — | | | (1,674,784 | ) |
| 12/31/2023 | | 739,397 | | | — | | | 14,043 | | | (678,215 | ) | | — | | | 75,225 | | | 5,422,827 | | | — | | | 107,713 | | | (4,980,427 | ) | | — | | | 550,113 | |
| Class I |
| 6/30/2024 | | 570,031 | | | — | | | — | | | (6,484,109 | ) | | — | | | (5,914,078 | ) | | 6,330,337 | | | — | | | — | | | (71,942,595 | ) | | — | | | (65,612,258 | ) |
| 12/31/2023 | | 624,702 | | | — | | | 118,957 | | | (18,137,133 | ) | | — | | | (17,393,474 | ) | | 5,903,207 | | | — | | | 1,166,965 | | | (167,795,968 | ) | | — | | | (160,725,796 | ) |
| Class R6 |
| 6/30/2024 | | 2,938,630 | | | — | | | — | | | (1,439,789 | ) | | — | | | 1,498,841 | | | 33,063,223 | | | — | | | — | | | (15,896,272 | ) | | — | | | 17,166,951 | |
| 12/31/2023 | | 1,828,655 | | | — | | | 14,963 | | | (1,705,392 | ) | | — | | | 138,226 | | | 17,005,379 | | | — | | | 147,085 | | | (16,031,004 | ) | | — | | | 1,121,460 | |
| Class S |
| 6/30/2024 | | 108,790 | | | — | | | — | | | (249,155 | ) | | — | | | (140,365 | ) | | 1,094,871 | | | — | | | — | | | (2,484,565 | ) | | — | | | (1,389,694 | ) |
| 12/31/2023 | | 304,419 | | | — | | | 4,776 | | | (762,498 | ) | | — | | | (453,303 | ) | | 2,580,752 | | | — | | | 42,748 | | | (6,525,955 | ) | | — | | | (3,902,455 | ) |
| Class S2 |
| 6/30/2024 | | 10,018 | | | — | | | — | | | (7,738 | ) | | — | | | 2,280 | | | 87,140 | | | — | | | — | | | (67,096 | ) | | — | | | 20,044 | |
| 12/31/2023 | | 32,813 | | | — | | | 567 | | | (38,230 | ) | | — | | | (4,850 | ) | | 255,611 | | | — | | | 4,426 | | | (292,721 | ) | | — | | | (32,684 | ) |
| T. Rowe Price Growth Equity |
| Class ADV |
| 6/30/2024 | | 24,949 | | | — | | | — | | | (283,555 | ) | | — | | | (258,606 | ) | | 1,913,592 | | | — | | | — | | | (21,563,870 | ) | | — | | | (19,650,278 | ) |
| 12/31/2023 | | 162,080 | | | — | | | 80,733 | | | (513,847 | ) | | — | | | (271,034 | ) | | 9,162,634 | | | — | | | 5,190,346 | | | (31,139,430 | ) | | — | | | (16,786,450 | ) |
| Class I |
| 6/30/2024 | | 190,263 | | | — | | | — | | | (1,705,556 | ) | | — | | | (1,515,293 | ) | | 17,986,293 | | | — | | | — | | | (159,245,041 | ) | | — | | | (141,258,748 | ) |
| 12/31/2023 | | 1,218,620 | | | — | | | 231,752 | | | (4,673,555 | ) | | — | | | (3,223,183 | ) | | 81,782,437 | | | — | | | 18,136,947 | | | (337,730,471 | ) | | — | | | (237,811,087 | ) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | | | | | | | | | | | | | | | | Net | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | increase | | | | | | Proceeds | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | (decrease) | | | | | | from | | | | | | | | | | | | | |
| | | | | | Shares | | | Reinvestment | | | | | | | | | in | | | | | | shares | | | Reinvestment | | | | | | | | | | |
| | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | shares | | | Shares | | | issued in | | | of | | | Shares | | | Shares | | | Net increase | |
| | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | outstanding | | | sold | | | merger | | | distributions | | | redeemed | | | converted | | | (decrease) | |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| T. Rowe Price Growth Equity (continued) |
| Class S |
| 6/30/2024 | | 34,151 | | | — | | | — | | | (43,792 | ) | | — | | | (9,641 | ) | | 2,918,825 | | | — | | | — | | | (3,743,474 | ) | | — | | | (824,649 | ) |
| 12/31/2023 | | 69,670 | | | — | | | 12,821 | | | (105,359 | ) | | — | | | (22,868 | ) | | 4,727,657 | | | — | | | 915,312 | | | (7,201,455 | ) | | — | | | (1,558,486 | ) |
| Class S2 |
| 6/30/2024 | | 2,041 | | | — | | | — | | | (8,424 | ) | | — | | | (6,383 | ) | | 163,364 | | | — | | | — | | | (652,021 | ) | | — | | | (488,657 | ) |
| 12/31/2023 | | 18,148 | | | — | | | 1,373 | | | (14,041 | ) | | — | | | 5,480 | | | 1,111,629 | | | — | | | 91,490 | | | (832,295 | ) | | — | | | 370,824 | |
NOTE 10 — SECURITIES LENDING
Under a Master Securities Lending Agreement (the “Agreement”) with BNY, the Portfolios can lend their securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral is equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned. The market value of the loaned securities is determined at Market Close of the Portfolios at their last sale price or official closing price on the principal exchange or system on which they are traded and any additional collateral is delivered to the Portfolios on the next business day. The cash collateral received is invested in approved investments as defined in the Agreement with BNY. The Portfolios bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Portfolios indemnification from loss with respect to the investment of collateral to the extent the cash collateral is invested in overnight repurchase agreements.
Cash collateral received in connection with securities lending is invested in cash equivalents, money market funds, repurchase agreements with maturities of not more than 99 days that are collateralized with U.S. Government securities, or certain short-term investments that have a remaining maturity of 190 days or less (“Permitted Investments”). Short-term investments include: securities, units, shares or other participations in short-term investment funds, pools or trusts; commercial paper, notes, bonds or other debt obligations, certificates of deposit, time deposits and other bank obligations and asset-backed commercial paper backed by diversified receivables and repurchase-backed programs. Permitted Investments are subject to certain guidelines established by the Adviser regarding liquidity, diversification, credit quality and average credit life/duration requirements. The securities purchased with cash collateral received are reflected in the Portfolio of Investments under Short-Term Investments.
Generally, in the event of counterparty default, the Portfolios have the right to use the collateral to offset losses incurred.
The Agreement contains certain guarantees by BNY in the event of counterparty default and/or a borrower’s failure to return a loaned security; however, there would be a potential loss to the Portfolios in the event the Portfolios are delayed or prevented from exercising their right to dispose of the collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in a Portfolio.
The following is a summary of each respective Portfolio’s securities lending agreements by counterparty which are subject to offset under the Agreement as of June 30, 2024:
Global Bond
| Counterparty | | Securities Loaned at Value | | Cash Collateral Received(1) | | Net Amount |
| Barclays Capital Inc. | | $ | 52,521 | | | $ | (52,521 | ) | | $ | — | |
| BNP Paribas | | | 7,152 | | | | (7,152 | ) | | | — | |
| BNP Paribas Prime Brokerage Intl Ltd | | | 40,230 | | | | (40,230 | ) | | | — | |
| BofA Securities Inc | | | 150,472 | | | | (150,472 | ) | | | — | |
| Cantor Fitzgerald & Co | | | 17,110 | | | | (17,110 | ) | | | — | |
| Citigroup Global Markets Inc. | | | 12,394 | | | | (12,394 | ) | | | — | |
| Daiwa Capital Markets America Inc. | | | 38,139 | | | | (38,139 | ) | | | — | |
| Deutsche Bank, AG | | | 502,038 | | | | (502,038 | ) | | | — | |
| Goldman, Sachs & Co. LLC | | | 79,430 | | | | (79,430 | ) | | | — | |
| HSBC Securities (USA) Inc. | | | 91,754 | | | | (91,754 | ) | | | — | |
| J.P. Morgan Securities LLC | | | 8,544 | | | | (8,544 | ) | | | — | |
| JP Morgan Securities Plc. | | | 1,038,014 | | | | (1,038,014 | ) | | | — | |
| Mizuho Securities USA LLC. | | | 14,326 | | | | (14,326 | ) | | | — | |
| National Bank Financial Inc | | | 29,821 | | | | (29,821 | ) | | | — | |
| National Financial Services LLC | | | 74,870 | | | | (74,870 | ) | | | — | |
| Nomura Securities International, Inc. | | | 188,453 | | | | (188,453 | ) | | | — | |
| RBC Capital Markets, LLC | | | 40,461 | | | | (40,461 | ) | | | — | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 10 — SECURITIES LENDING (continued)
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| Scotia Capital (USA) INC | | $ | 9,916 | | | $ | (9,916 | ) | | $ | — | |
| Societe Generale | | | 1,640,261 | | | | (1,640,261 | ) | | | — | |
| TD Prime Services LLC | | | 50,602 | | | | (50,602 | ) | | | — | |
| TD Securities (USA) Inc. | | | 42,052 | | | | (42,052 | ) | | | — | |
| TD Securities Inc | | | 14,339 | | | | (14,339 | ) | | | — | |
| Truist Securities INC | | | 70,066 | | | | (70,066 | ) | | | — | |
| UBS AG | | | 17,043 | | | | (17,043 | ) | | | — | |
| US Bancorp Investments | | | 41,776 | | | | (41,776 | ) | | | — | |
| Total | | $ | 4,271,784 | | | $ | (4,271,784 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $4,418,639 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
International High Dividend Low Volatility
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| BofA Securities Inc | | $ | 281,766 | | | $ | (281,766 | ) | | $ | — | |
| Citigroup Global Markets Limited | | | 2,465,483 | | | | (2,465,483 | ) | | | — | |
| HSBC Bank PLC | | | 1,472,288 | | | | (1,472,288 | ) | | | — | |
| Jefferies LLC | | | 198,684 | | | | (198,684 | ) | | | — | |
| JP Morgan Securities Plc. | | | 1,101,140 | | | | (1,101,140 | ) | | | — | |
| Morgan Stanley & Co. LLC | | | 4,312 | | | | (4,312 | ) | | | — | |
| UBS AG | | | 1,930,932 | | | | (1,930,932 | ) | | | — | |
| Total | | $ | 7,454,605 | | | $ | (7,454,605 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $7,869,238 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
American Century Small-Mid Cap Value
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| Barclays Bank PLC | | $ | 54,203 | | | $ | (54,203 | ) | | $ | — | |
| Barclays Capital Inc. | | | 211,050 | | | | (211,050 | ) | | | — | |
| BofA Securities Inc | | | 1,445,003 | | | | (1,445,003 | ) | | | — | |
| Citigroup Global Markets Inc. | | | 34,669 | | | | (34,669 | ) | | | — | |
| J.P. Morgan Securities LLC | | | 538,941 | | | | (538,941 | ) | | | — | |
| Morgan Stanley & Co. LLC | | | 71,457 | | | | (71,457 | ) | | | — | |
| National Bank of Canada Financial Inc | | | 941,355 | | | | (941,355 | ) | | | — | |
| National Financial Services LLC | | | 600,213 | | | | (600,213 | ) | | | — | |
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| Natixis Securities America LLC | | $ | 1,904,873 | | | $ | (1,904,873 | ) | | $ | — | |
| TD Prime Services LLC | | | 236,936 | | | | (236,936 | ) | | | — | |
| UBS AG | | | 11,264 | | | | (11,264 | ) | | | — | |
| Wells Fargo Securities LLC | | | 269,635 | | | | (269,635 | ) | | | — | |
| Total | | $ | 6,319,599 | | | $ | (6,319,599 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $6,489,162 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
Invesco Equity and Income
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| BMO Capital Markets Corp | | $ | 3,793 | | | $ | (3,793 | ) | | $ | — | |
| BNP Paribas Prime Brokerage Intl Ltd | | | 2,348,760 | | | | (2,348,760 | ) | | | — | |
| BofA Securities Inc | | | 1,082,431 | | | | (1,082,431 | ) | | | — | |
| CIBC World Markets Corporation | | | 5,558,833 | | | | (5,558,833 | ) | | | — | |
| Citigroup Global Markets Inc. | | | 981,955 | | | | (981,955 | ) | | | — | |
| Goldman, Sachs & Co. LLC | | | 629,575 | | | | (629,575 | ) | | | — | |
| RBC Capital Markets, LLC | | | 204,882 | | | | (204,882 | ) | | | — | |
| Societe Generale | | | 6,302,601 | | | | (6,302,601 | ) | | | — | |
| State Street Bank and Trust Company | | | 3,788,130 | | | | (3,788,130 | ) | | | — | |
| TD Prime Services LLC | | | 19,065,885 | | | | (19,065,885 | ) | | | — | |
| Truist Securities INC | | | 423,168 | | | | (423,168 | ) | | | — | |
| Total | | $ | 40,390,013 | | | $ | (40,390,013 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $41,300,773 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
JPMorgan Mid Cap Value
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| Citadel Securities LLC | | $ | 201,096 | | | $ | (201,096 | ) | | $ | — | |
| National Bank of Canada Financial Inc | | | 679,572 | | | | (679,572 | ) | | | — | |
| Total | | $ | 880,668 | | | $ | (880,668 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $902,430 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 10 — SECURITIES LENDING (continued)
T. Rowe Price Diversified Mid Cap Growth
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| BofA Securities Inc | | $ | 1,540,288 | | | $ | (1,540,288 | ) | | $ | — | |
| Citadel Securities LLC | | | 970,549 | | | | (970,549 | ) | | | — | |
| Goldman, Sachs & Co. LLC | | | 643,105 | | | | (643,105 | ) | | | — | |
| Morgan Stanley & Co. LLC | | | 28,940 | | | | (28,940 | ) | | | — | |
| National Bank of Canada Financial Inc | | | 1,702,193 | | | | (1,702,193 | ) | | | — | |
| National Financial Services LLC | | | 5,788 | | | | (5,788 | ) | | | — | |
| UBS AG | | | 771,662 | | | | (771,662 | ) | | | — | |
| Total | | $ | 5,662,525 | | | $ | (5,662,525 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $5,801,363 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
T. Rowe Price Growth Equity
| Counterparty | | Securities
Loaned at Value | | Cash Collateral Received(1) | | Net
Amount |
| Barclays Bank PLC | | $ | 4,617,580 | | | $ | (4,617,580 | ) | | $ | — | |
| BMO Capital Markets Corp | | | 104,068 | | | | (104,068 | ) | | | — | |
| Citigroup Global Markets Inc. | | | 75,736 | | | | (75,736 | ) | | | — | |
| Goldman Sachs International | | | 2,481,402 | | | | (2,481,402 | ) | | | — | |
| Goldman, Sachs & Co. LLC | | | 113,054 | | | | (113,054 | ) | | | — | |
| Total | | $ | 7,391,840 | | | $ | (7,391,840 | ) | | $ | — | |
| (1) | Cash collateral with a fair value of $7,238,073 has been received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes. |
NOTE 11 — FEDERAL INCOME TAXES
The amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of foreign currency transactions, futures contracts, income from passive foreign investment companies (PFICs), paydowns, straddle loss deferrals and wash sale deferrals. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital.
Dividends paid by the Portfolios from net investment income and distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.
The tax composition of dividends and distributions to shareholders was as follows:
| | | Year Ended December 31, 2023 | | | Year Ended December 31, 2022 | |
| | | Ordinary Income | | | Long-term Capital Gains | | | Return of Capital | | | Ordinary Income | | | Long-term Capital Gains | | | Return of Capital | |
| Global Bond | | $ | 3,218,958 | | | $ | — | | | $ | 968,512 | | | $ | — | | | $ | — | | | $ | 3,609,415 | |
| Global Insights | | | 460,274 | | | | 125,580,792 | | | | — | | | | — | | | | 182,852,274 | | | | — | |
| International High Dividend Low Volatility | | | 13,976,065 | | | | — | | | | — | | | | 15,550,199 | | | | — | | | | — | |
| American Century Small-Mid Cap Value | | | 9,477,566 | | | | 35,002,895 | | | | — | | | | 27,230,616 | | | | 41,284,814 | | | | — | |
| Baron Growth | | | — | | | | 28,695,083 | | | | — | | | | — | | | | 54,434,934 | | | | — | |
| Columbia Contrarian Core | | | 911,414 | | | | 18,591,081 | | | | — | | | | 13,181,201 | | | | 15,666,691 | | | | — | |
| Columbia Small Cap Value II | | | 930,381 | | | | 10,773,302 | | | | — | | | | 7,343,668 | | | | 17,078,355 | | | | — | |
| Invesco Comstock | | | 6,034,657 | | | | 30,519,073 | | | | — | | | | 4,363,124 | | | | 665,579 | | | | — | |
| Invesco Equity and Income | | | 20,952,329 | | | | 57,341,983 | | | | — | | | | 40,101,385 | | | | 141,559,172 | | | | — | |
| JPMorgan Mid Cap Value | | | 3,219,512 | | | | 31,042,551 | | | | — | | | | 7,186,383 | | | | 54,253,817 | | | | — | |
| T. Rowe Price Diversified Mid Cap Growth | | | 9,521 | | | | 1,459,416 | | | | — | | | | 22,850,695 | | | | 244,839,704 | | | | — | |
| T. Rowe Price Growth Equity | | | — | | | | 24,334,095 | | | | — | | | | 23,938,422 | | | | 238,640,525 | | | | — | |
The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of December 31, 2023 were:
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 11 — FEDERAL INCOME TAXES (continued)
| | | Undistributed
Ordinary | | Undistributed
Long-term | | Unrealized
Appreciation/ | | | Capital Loss Carryforwards | | | | | | Total
Distributable | |
| | | Income | | Capital Gains | | (Depreciation) | | | Amount | | Character | | | Other | | | Earnings/(Loss) | |
| Global Bond | | $ | — | | $ | — | | $ | (7,670,308 | ) | | $ | (2,670,239) | | Short-term | | | $ | — | | | $ | (26,708,217 | ) |
| | | | | | | | | | | | | | (16,367,670) | | Long-term | | | | | | | | | |
| | | | | | | | | | | | | $ | (19,037,909) | | | | | | | | | | | |
| Global Insights | | | 1,512,193 | | | 655,391,011 | | | 96,595,453 | | | | — | | — | | | | (1,194,348 | ) | | | 752,304,309 | |
| International High Dividend Low Volatility | | | 13,986,198 | | | — | | | 30,443,858 | | | | (11,712,164) | | Short-term | | | | — | | | | 32,249,376 | |
| | | | | | | | | | | | | | (468,516) | | Long-term | | | | | | | | | |
| | | | | | | | | | | | | $ | (12,180,680) | | | | | | | | | | | |
| American Century Small-Mid Cap Value | | | 6,493,659 | | | 7,427,624 | | | 6,954,511 | | | | — | | — | | | | — | | | | 20,875,794 | |
| Baron Growth | | | — | | | 21,113,858 | | | 404,701,182 | | | | — | | — | | | | — | | | | 425,815,040 | |
| Columbia Contrarian Core | | | 180,492 | | | 1,506,342 | | | 11,582,758 | | | | — | | — | | | | — | | | | 13,269,592 | |
| Columbia Small Cap Value II | | | 2,472,610 | | | 11,601,106 | | | 25,915,151 | | | | — | | — | | | | — | | | | 39,988,867 | |
| Invesco Comstock | | | 891,642 | | | 20,559,583 | | | 36,685,778 | | | | — | | — | | | | — | | | | 58,137,003 | |
| Invesco Equity and Income | | | 2,652,017 | | | 66,206,582 | | | 97,782,856 | | | | — | | — | | | | — | | | | 166,641,455 | |
| JPMorgan Mid Cap Value | | | — | | | 15,018,382 | | | 78,603,394 | | | | — | | — | | | | — | | | | 93,621,776 | |
| T. Rowe Price Diversified Mid Cap Growth | | | — | | | 112,357,406 | | | 166,099,795 | | | | — | | — | | | | — | | | | 278,457,201 | |
| T. Rowe Price Growth Equity | | | 4,167,468 | | | 150,762,856 | | | 430,065,011 | | | | — | | — | | | | — | | | | 584,995,335 | |
The Portfolios’ major tax jurisdictions are U.S. federal and Arizona state.
As of June 30, 2024, no provision for income tax is required in the Portfolios’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.
NOTE 12 — LONDON INTERBANK OFFERED RATE (“LIBOR”)
The London Interbank Offered Rate (“LIBOR”) was the offered rate for short-term Eurodollar deposits between major international banks. The terms of investments, financings or other transactions (including certain derivatives transactions) to which the Portfolio may be a party have historically been tied to LIBOR. In connection with the global transition away from LIBOR led by regulators and market participants, LIBOR was last published on a representative basis at the end of June 2023. Alternative reference rates to LIBOR have been established in most major currencies and markets in these new rates are continuing to develop. The transition away from LIBOR to the use of replacement rates has gone relatively smoothly on the Portfolio and the financial instruments in which it invests; however, longer-term impacts are still uncertain.
In addition, interest rates or other types of rates and indices which are classed as “benchmarks” have been the subject of ongoing national and international regulatory reform, including under the European Union regulation on indices used as benchmarks in financial instruments and financial contracts (known as the “Benchmarks Regulation”). The Benchmarks Regulation has been enacted into United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended), subject to amendments made by the Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (SI 2019/657) and other statutory instruments. Following the implementation of these reforms, the manner of administration of benchmarks has changed and may further change in the future, with the result that relevant benchmarks may perform differently than in the past, the use of benchmarks that are not compliant with the new standards by certain supervised entities may
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 12 — LONDON INTERBANK OFFERED RATE (“LIBOR”) (continued)
be restricted, and certain benchmarks may be eliminated entirely. Such changes could cause increased market volatility and disruptions in liquidity for instruments that rely on or are impacted by such benchmarks. Additionally, there could be other consequences which cannot be predicted.
NOTE 13 — MARKET DISRUPTION AND GEOPOLITICAL RISK
A Portfolio is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may
negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby geographic regions. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have recently experienced financial difficulties and, in some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a Portfolio’s investments. Any of these occurrences could disrupt the operations of a Portfolio and of a Portfolio’s service providers.
NOTE 14 — SUBSEQUENT EVENTS
Dividends: Subsequent to June 30, 2024, the following Portfolios declared dividends and distributions of:
| | | PER SHARE AMOUNTS | | | | |
| | | Net Investment Income | | Short-term Capital Gains | | Long-term Capital Gains | | Payable
Date | | Record
Date |
| Global Bond | | | | | | | | | | | | | | | | |
| Class ADV | | $ | 0.0255 | | | $ | - | | | $ | - | | | August 1, 2024 | | Daily |
| Class I | | $ | 0.0294 | | | $ | - | | | $ | - | | | August 1, 2024 | | Daily |
| Class S | | $ | 0.0277 | | | $ | - | | | $ | - | | | August 1, 2024 | | Daily |
| Global Insights |
| Class ADV | | $ | - | | | $ | 0.0266 | | | $ | 7.8169 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | - | | | $ | 0.0266 | | | $ | 7.8169 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | - | | | $ | 0.0266 | | | $ | 7.8169 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | - | | | $ | 0.0266 | | | $ | 7.8169 | | | August 5, 2024 | | August 1, 2024 |
| International High Dividend Low Volatility |
| Class ADV | | $ | 0.4469 | | | $ | - | | | $ | - | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.4961 | | | $ | - | | | $ | - | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.4671 | | | $ | - | | | $ | - | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | 0.4538 | | | $ | - | | | $ | - | | | August 5, 2024 | | August 1, 2024 |
| American Century Small-Mid Cap Value |
| Class ADV | | $ | 0.1436 | | | $ | 0.0746 | | | $ | 0.2721 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.1966 | | | $ | 0.0746 | | | $ | 0.2721 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.1652 | | | $ | 0.0746 | | | $ | 0.2721 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | 0.1538 | | | $ | 0.0746 | | | $ | 0.2721 | | | August 5, 2024 | | August 1, 2024 |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 14 — SUBSEQUENT EVENTS (continued)
| Baron Growth |
| Class ADV | | $ | - | | | $ | - | | | $ | 1.1057 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | - | | | $ | - | | | $ | 1.1057 | | | August 5, 2024 | | August 1, 2024 |
| Class R6 | | $ | - | | | $ | - | | | $ | 1.1057 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | - | | | $ | - | | | $ | 1.1057 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | - | | | $ | - | | | $ | 1.1057 | | | August 5, 2024 | | August 1, 2024 |
| Columbia Contrarian Core |
| Class ADV | | $ | 0.0216 | | | $ | - | | | $ | 0.2858 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.0767 | | | $ | - | | | $ | 0.2858 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.0440 | | | $ | - | | | $ | 0.2858 | | | August 5, 2024 | | August 1, 2024 |
| Columbia Small Cap Value II |
| Class ADV | | $ | 0.2698 | | | $ | - | | | $ | 1.5308 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.3569 | | | $ | - | | | $ | 1.5308 | | | August 5, 2024 | | August 1, 2024 |
| Class R6 | | $ | 0.3729 | | | $ | - | | | $ | 1.5308 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.3130 | | | $ | - | | | $ | 1.5308 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | 0.2934 | | | $ | - | | | $ | 1.5308 | | | August 5, 2024 | | August 1, 2024 |
| Invesco Comstock |
| Class ADV | | $ | 0.0200 | | | $ | 0.0647 | | | $ | 1.9438 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.0200 | | | $ | 0.0647 | | | $ | 1.9438 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.0200 | | | $ | 0.0647 | | | $ | 1.9438 | | | August 5, 2024 | | August 1, 2024 |
| Invesco Equity and Income |
| Class ADV | | $ | 0.0302 | | | $ | 0.0830 | | | $ | 2.9401 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | 0.0302 | | | $ | 0.0830 | | | $ | 2.9401 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | 0.0302 | | | $ | 0.0830 | | | $ | 2.9401 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | 0.0302 | | | $ | 0.0830 | | | $ | 2.9401 | | | August 5, 2024 | | August 1, 2024 |
| JPMorgan Mid Cap Value |
| Class ADV | | $ | - | | | $ | - | | | $ | 0.8039 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | - | | | $ | - | | | $ | 0.8039 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | - | | | $ | - | | | $ | 0.8039 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | - | | | $ | - | | | $ | 0.8039 | | | August 5, 2024 | | August 1, 2024 |
| T. Rowe Price Diversified Mid Cap Growth |
| Class ADV | | $ | - | | | $ | - | | | $ | 1.1618 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | - | | | $ | - | | | $ | 1.1618 | | | August 5, 2024 | | August 1, 2024 |
| Class R6 | | $ | - | | | $ | - | | | $ | 1.1618 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | - | | | $ | - | | | $ | 1.1618 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | - | | | $ | - | | | $ | 1.1618 | | | August 5, 2024 | | August 1, 2024 |
| T. Rowe Price Growth Equity |
| Class ADV | | $ | - | | | $ | 0.2631 | | | $ | 9.5168 | | | August 5, 2024 | | August 1, 2024 |
| Class I | | $ | - | | | $ | 0.2631 | | | $ | 9.5168 | | | August 5, 2024 | | August 1, 2024 |
| Class S | | $ | - | | | $ | 0.2631 | | | $ | 9.5168 | | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $ | - | | | $ | 0.2631 | | | $ | 9.5168 | | | August 5, 2024 | | August 1, 2024 |
The Portfolios have evaluated events occurring after the Statements of Assets and Liabilities date through the date that the financial statements were issued (“subsequent events”) to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: 19.7% | |
| | | | Australia: 0.1% | |
| 30,000 | | | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2030 | | $ | 30,426 | | | | 0.1 | |
| 19,000 | | | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2033 | | | 19,021 | | | | 0.0 | |
| 10,000 (1) | | | CIMIC Finance USA Pty Ltd., 7.000%, 03/25/2034 | | | 10,131 | | | | 0.0 | |
| 21,000 (1) | | | CSL Finance PLC, 5.417%, 04/03/2054 | | | 20,286 | | | | 0.0 | |
| 6,000 (1) | | | Glencore Funding LLC, 5.893%, 04/04/2054 | | | 5,775 | | | | 0.0 | |
| | | | | | | 85,639 | | | | 0.1 | |
| | | | | | | | | | | | |
| | | | Bermuda: 0.1% |
| 133,000 (1) | | | Triton Container International Ltd., 3.150%, 06/15/2031 | | | 111,617 | | | | 0.1 | |
| | | | | | | | | | | | |
| | | | Canada: 0.6% |
| 20,000 (2) | | | Algonquin Power & Utilities Corp., 5.365%, 06/15/2026 | | | 19,913 | | | | 0.0 | |
| 45,000 | | | Bank of Montreal, 5.511%, 06/04/2031 | | | 45,494 | | | | 0.1 | |
| 12,000 (2) | | | Bank of Nova Scotia, 4.588%, 05/04/2037 | | | 10,813 | | | | 0.0 | |
| 26,000 | | | Bank of Nova Scotia, 4.850%, 02/01/2030 | | | 25,594 | | | | 0.0 | |
| 35,000 | | | Brookfield Finance, Inc., 5.675%, 01/15/2035 | | | 34,645 | | | | 0.0 | |
| 35,000 | | | Canadian Imperial Bank of Commerce, 5.260%, 04/08/2029 | | | 34,943 | | | | 0.1 | |
| 21,000 | | | Canadian Pacific Railway Co., 2.875%, 11/15/2029 | | | 18,823 | | | | 0.0 | |
| 13,000 | | | Cenovus Energy, Inc., 5.400%, 06/15/2047 | | | 11,980 | | | | 0.0 | |
| 31,000 (1) | | | Constellation Software, Inc./Canada, 5.158%, 02/16/2029 | | | 30,997 | | | | 0.0 | |
| 54,000 (1) | | | Element Fleet Management Corp., 5.643%, 03/13/2027 | | | 54,149 | | | | 0.1 | |
| 42,000 (1) | | | Element Fleet Management Corp., 6.319%, 12/04/2028 | | | 43,436 | | | | 0.1 | |
| 10,000 | | | Enbridge, Inc., 5.625%, 04/05/2034 | | | 9,987 | | | | 0.0 | |
| 177,000 | | | Fortis, Inc./Canada, 3.055%, 10/04/2026 | | | 168,014 | | | | 0.2 | |
| 26,000 (3) | | | Nutrien Ltd., 5.400%, 06/21/2034 | | | 25,624 | | | | 0.0 | |
| 4,000 | | | Nutrien Ltd., 5.875%, 12/01/2036 | | | 4,104 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | Canada: (continued) |
| 15,000 | | | Nutrien Ltd., 5.950%, 11/07/2025 | | $ | 15,086 | | | | 0.0 | |
| 10,000 (3) | | | Royal Bank of Canada, 5.150%, 02/01/2034 | | | 9,927 | | | | 0.0 | |
| 29,000 (3) | | | Royal Bank of Canada, 5.200%, 08/01/2028 | | | 29,201 | | | | 0.0 | |
| 29,000 | | | Toronto-Dominion Bank, 5.523%, 07/17/2028 | | | 29,369 | | | | 0.0 | |
| | | | | | | 622,099 | | | | 0.6 | |
| | | | | | | | | | | | |
| | | | China: 0.0% |
| 16,000 | | | NXP BV / NXP Funding LLC / NXP USA, Inc., 3.250%, 05/11/2041 | | | 11,753 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | France: 0.1% |
| 9,000 | | | TotalEnergies Capital SA, 5.150%, 04/05/2034 | | | 9,007 | | | | 0.0 | |
| 25,000 | | | TotalEnergies Capital SA, 5.488%, 04/05/2054 | | | 24,672 | | | | 0.1 | |
| 17,000 | | | TotalEnergies Capital SA, 5.638%, 04/05/2064 | | | 16,846 | | | | 0.0 | |
| | | | | | | 50,525 | | | | 0.1 | |
| | | | | | | | | | | | |
| | | | Ireland: 0.0% |
| 42,000 (1) | | | Smurfit Kappa Treasury ULC, 5.200%, 01/15/2030 | | | 41,800 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | Luxembourg: 0.0% |
| 16,000 | | | Medtronic Global Holdings SCA, 4.500%, 03/30/2033 | | | 15,388 | | | | 0.0 | |
| 23,000 | | | Schlumberger Investment SA, 2.650%, 06/26/2030 | | | 20,253 | | | | 0.0 | |
| 7,000 | | | Schlumberger Investment SA, 4.850%, 05/15/2033 | | | 6,863 | | | | 0.0 | |
| | | | | | | 42,504 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | Norway: 0.0% |
| 41,000 | | | Equinor ASA, 3.125%, 04/06/2030 | | | 37,403 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | Singapore: 0.1% |
| 26,000 | | | Pfizer Investment Enterprises Pte Ltd., 4.650%, 05/19/2030 | | | 25,635 | | | | 0.0 | |
| 51,000 | | | Pfizer Investment Enterprises Pte Ltd., 4.750%, 05/19/2033 | | | 49,714 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | Singapore: (continued) | | | | | | | | |
| 18,000 | | | Pfizer Investment Enterprises Pte Ltd., 5.300%, 05/19/2053 | | $ | 17,374 | | | | 0.0 | |
| 67,000 | | | Pfizer Investment Enterprises Pte Ltd., 5.340%, 05/19/2063 | | | 63,292 | | | | 0.1 | |
| | | | | | | 156,015 | | | | 0.1 | |
| | | | | | | | | | | | |
| | | United Kingdom: 1.0% | | | | | | | | |
| 200,000 (1) | | | Anglo American Capital PLC, 2.250%, 03/17/2028 | | | 179,375 | | | | 0.2 | |
| 53,000 | | | Astrazeneca Finance LLC, 4.900%, 02/26/2031 | | | 52,882 | | | | 0.1 | |
| 13,000 | | | BAT Capital Corp., 5.834%, 02/20/2031 | | | 13,188 | | | | 0.0 | |
| 29,000 (3) | | | BAT Capital Corp., 6.000%, 02/20/2034 | | | 29,351 | | | | 0.0 | |
| 37,000 (1)(3) | | | CSL Finance PLC, 4.050%, 04/27/2029 | | | 35,403 | | | | 0.0 | |
| 6,000 (1) | | | CSL Finance PLC, 4.950%, 04/27/2062 | | | 5,281 | | | | 0.0 | |
| 65,000 (2) | | | Lloyds Banking Group PLC, 5.721%, 06/05/2030 | | | 65,555 | | | | 0.1 | |
| 200,000 (1) | | | LSEGA Financing PLC, 3.200%, 04/06/2041 | | | 150,170 | | | | 0.2 | |
| 30,000 | | | National Grid PLC, 5.418%, 01/11/2034 | | | 29,349 | | | | 0.0 | |
| 200,000 (1) | | | Reckitt Benckiser Treasury Services PLC, 3.000%, 06/26/2027 | | | 188,463 | | | | 0.2 | |
| 150,000 | | | Royalty Pharma PLC, 1.200%, 09/02/2025 | | | 142,500 | | | | 0.1 | |
| 143,000 | | | Royalty Pharma PLC, 1.750%, 09/02/2027 | | | 128,505 | | | | 0.1 | |
| 4,000 | | | Vodafone Group PLC, 5.750%, 02/10/2063 | | | 3,801 | | | | 0.0 | |
| 21,000 | | | Vodafone Group PLC, 5.875%, 06/28/2064 | | | 20,213 | | | | 0.0 | |
| | | | | | | 1,044,036 | | | | 1.0 | |
| | | | | | | | | | | | |
| | | United States: 17.7% | | | | | | | | |
| 154,000 | | | AbbVie, Inc., 3.800%, 03/15/2025 | | | 152,125 | | | | 0.2 | |
| 36,000 | | | AbbVie, Inc., 4.050%, 11/21/2039 | | | 31,287 | | | | 0.0 | |
| 53,000 | | | AbbVie, Inc., 4.950%, 03/15/2031 | | | 52,880 | | | | 0.1 | |
| 22,000 | | | AbbVie, Inc., 5.050%, 03/15/2034 | | | 21,944 | | | | 0.0 | |
| 13,000 | | | AbbVie, Inc., 5.350%, 03/15/2044 | | | 12,860 | | | | 0.0 | |
| 17,000 | | | AbbVie, Inc., 5.400%, 03/15/2054 | | | 16,822 | | | | 0.0 | |
| 17,000 | | | AbbVie, Inc., 5.500%, 03/15/2064 | | | 16,796 | | | | 0.0 | |
| | | | | | | | | | | | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 21,000 | | | Adobe, Inc., 4.950%, 04/04/2034 | | $ | 20,914 | | | | 0.0 | |
| 153,000 (1) | | | AEP Texas, Inc., 3.850%, 10/01/2025 | | | 149,389 | | | | 0.2 | |
| 45,000 | | | AEP Texas, Inc., 5.450%, 05/15/2029 | | | 45,249 | | | | 0.1 | |
| 16,000 | | | AEP Transmission Co. LLC, 5.150%, 04/01/2034 | | | 15,649 | | | | 0.0 | |
| 60,000 | | | AES Corp., 2.450%, 01/15/2031 | | | 49,425 | | | | 0.1 | |
| 33,000 | | | AES Corp., 5.450%, 06/01/2028 | | | 32,938 | | | | 0.0 | |
| 25,000 | | | AGCO Corp., 5.450%, 03/21/2027 | | | 25,067 | | | | 0.0 | |
| 30,000 | | | Air Lease Corp., 5.200%, 07/15/2031 | | | 29,327 | | | | 0.0 | |
| 16,000 | | | Air Products and Chemicals, Inc., 4.850%, 02/08/2034 | | | 15,712 | | | | 0.0 | |
| 12,000 | | | Alabama Power Co., 5.850%, 11/15/2033 | | | 12,496 | | | | 0.0 | |
| 6,000 | | | Alleghany Corp., 3.250%, 08/15/2051 | | | 4,056 | | | | 0.0 | |
| 17,000 | | | Alleghany Corp., 4.900%, 09/15/2044 | | | 15,856 | | | | 0.0 | |
| 27,000 | | | Altria Group, Inc., 6.200%, 11/01/2028 | | | 28,014 | | | | 0.0 | |
| 14,000 | | | Amcor Group Finance PLC, 5.450%, 05/23/2029 | | | 14,052 | | | | 0.0 | |
| 36,000 | | | Ameren Corp., 5.000%, 01/15/2029 | | | 35,651 | | | | 0.0 | |
| 172,878 | | | American Airlines Pass Through Trust 2021-1, A, 2.875%, 01/11/2036 | | | 148,598 | | | | 0.2 | |
| 18,000 | | | American Electric Power Co., Inc., 3.250%, 03/01/2050 | | | 11,820 | | | | 0.0 | |
| 16,000 | | | American Electric Power Co., Inc., 5.625%, 03/01/2033 | | | 15,952 | | | | 0.0 | |
| 18,000 (2) | | | American Express Co., 4.990%, 05/01/2026 | | | 17,899 | | | | 0.0 | |
| 30,000 (2) | | | American Express Co., 5.098%, 02/16/2028 | | | 29,872 | | | | 0.0 | |
| 35,000 (2) | | | American Express Co., 5.532%, 04/25/2030 | | | 35,412 | | | | 0.0 | |
| 16,000 (3) | | | American Homes 4 Rent L.P., 3.625%, 04/15/2032 | | | 13,998 | | | | 0.0 | |
| 46,000 | | | American Homes 4 Rent L.P., 5.500%, 02/01/2034 | | | 45,252 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 43,000 | | | American Honda Finance Corp., 4.700%, 01/12/2028 | | $ | 42,602 | | | | 0.1 | |
| 3,000 | | | American Honda Finance Corp., 4.900%, 01/10/2034 | | | 2,912 | | | | 0.0 | |
| 20,000 | | | American Honda Finance Corp., 5.650%, 11/15/2028 | | | 20,502 | | | | 0.0 | |
| 36,000 (3) | | | American Honda Finance Corp., 5.850%, 10/04/2030 | | | 37,578 | | | | 0.1 | |
| 44,000 | | | American International Group, Inc., 3.400%, 06/30/2030 | | | 40,040 | | | | 0.1 | |
| 54,000 | | | American International Group, Inc., 4.200%, 04/01/2028 | | | 52,232 | | | | 0.1 | |
| 4,000 | | | American International Group, Inc., 4.375%, 01/15/2055 | | | 3,131 | | | | 0.0 | |
| 56,000 | | | American International Group, Inc., 5.125%, 03/27/2033 | | | 55,194 | | | | 0.1 | |
| 205,000 (3) | | | American Tower Corp., 2.750%, 01/15/2027 | | | 192,400 | | | | 0.2 | |
| 29,000 | | | American Tower Corp., 3.650%, 03/15/2027 | | | 27,782 | | | | 0.0 | |
| 40,000 (1) | | | American Transmission Systems, Inc., 2.650%, 01/15/2032 | | | 33,298 | | | | 0.0 | |
| 14,000 | | | American Water Capital Corp., 5.150%, 03/01/2034 | | | 13,888 | | | | 0.0 | |
| 30,000 | | | American Water Capital Corp., 5.450%, 03/01/2054 | | | 28,968 | | | | 0.0 | |
| 22,000 | | | Ameriprise Financial, Inc., 5.700%, 12/15/2028 | | | 22,537 | | | | 0.0 | |
| 23,000 | | | Amgen, Inc., 5.600%, 03/02/2043 | | | 22,682 | | | | 0.0 | |
| 13,000 | | | Amgen, Inc., 5.650%, 03/02/2053 | | | 12,812 | | | | 0.0 | |
| 17,000 | | | Amgen, Inc., 5.750%, 03/02/2063 | | | 16,663 | | | | 0.0 | |
| 30,000 | | | Aon North America, Inc., 5.125%, 03/01/2027 | | | 29,961 | | | | 0.0 | |
| 120,000 | | | Aon North America, Inc., 5.150%, 03/01/2029 | | | 119,711 | | | | 0.1 | |
| 5,000 | | | Aon North America, Inc., 5.750%, 03/01/2054 | | | 4,895 | | | | 0.0 | |
| 21,000 | | | Arthur J Gallagher & Co., 5.450%, 07/15/2034 | | | 20,845 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 3,000 | | | Arthur J Gallagher & Co., 5.750%, 07/15/2054 | | $ | 2,918 | | | | 0.0 | |
| 2,000 | | | Arthur J Gallagher & Co., 6.750%, 02/15/2054 | | | 2,204 | | | | 0.0 | |
| 42,000 | | | AT&T, Inc., 3.650%, 09/15/2059 | | | 28,189 | | | | 0.0 | |
| 89,000 (1) | | | Athene Global Funding, 5.684%, 02/23/2026 | | | 89,248 | | | | 0.1 | |
| 13,000 | | | AutoZone, Inc., 6.250%, 11/01/2028 | | | 13,559 | | | | 0.0 | |
| 21,000 | | | Avnet, Inc., 5.500%, 06/01/2032 | | | 20,323 | | | | 0.0 | |
| 26,000 | | | Avnet, Inc., 6.250%, 03/15/2028 | | | 26,702 | | | | 0.0 | |
| 153,000 (2) | | | Bank of America Corp., 1.734%, 07/22/2027 | | | 141,847 | | | | 0.1 | |
| 43,000 (2) | | | Bank of America Corp., 2.087%, 06/14/2029 | | | 38,155 | | | | 0.1 | |
| 118,000 (2) | | | Bank of America Corp., 2.299%, 07/21/2032 | | | 96,635 | | | | 0.1 | |
| 72,000 (2) | | | Bank of America Corp., 2.572%, 10/20/2032 | | | 59,703 | | | | 0.1 | |
| 68,000 (2) | | | Bank of America Corp., 2.592%, 04/29/2031 | | | 58,813 | | | | 0.1 | |
| 123,000 (2) | | | Bank of America Corp., 2.687%, 04/22/2032 | | | 103,998 | | | | 0.1 | |
| 35,000 (2) | | | Bank of America Corp., 2.884%, 10/22/2030 | | | 31,161 | | | | 0.0 | |
| 51,000 (2) | | | Bank of America Corp., 3.194%, 07/23/2030 | | | 46,324 | | | | 0.1 | |
| 39,000 (2) | | | Bank of America Corp., 3.419%, 12/20/2028 | | | 36,684 | | | | 0.0 | |
| 40,000 (2) | | | Bank of America Corp., 3.593%, 07/21/2028 | | | 38,083 | | | | 0.1 | |
| 32,000 (2) | | | Bank of America Corp., 5.202%, 04/25/2029 | | | 31,957 | | | | 0.0 | |
| 32,000 (2) | | | Bank of America Corp., 5.288%, 04/25/2034 | | | 31,683 | | | | 0.0 | |
| 59,000 (2) | | | Bank of America Corp., 5.468%, 01/23/2035 | | | 58,962 | | | | 0.1 | |
| 86,000 (2) | | | Bank of America Corp., 5.872%, 09/15/2034 | | | 88,502 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 71,000 (2) | | | Bank of America Corp. N, 2.651%, 03/11/2032 | | $ | 60,102 | | | | 0.1 | |
| 12,000 (2) | | | Bank of New York Mellon Corp., 4.289%, 06/13/2033 | | | 11,202 | | | | 0.0 | |
| 43,000 (2) | | | Bank of New York Mellon Corp., 4.975%, 03/14/2030 | | | 42,752 | | | | 0.1 | |
| 25,000 (2) | | | Bank of New York Mellon Corp., 5.188%, 03/14/2035 | | | 24,686 | | | | 0.0 | |
| 19,000 | | | BAT Capital Corp., 7.079%, 08/02/2043 | | | 20,039 | | | | 0.0 | |
| 22,000 | | | BAT Capital Corp., 7.081%, 08/02/2053 | | | 23,411 | | | | 0.0 | |
| 42,000 | | | Becton Dickinson & Co., 4.693%, 02/13/2028 | | | 41,414 | | | | 0.1 | |
| 230,000 (3) | | | Berry Global, Inc., 1.650%, 01/15/2027 | | | 209,547 | | | | 0.2 | |
| 14,000 | | | Black Hills Corp., 6.000%, 01/15/2035 | | | 14,092 | | | | 0.0 | |
| 12,000 | | | BlackRock Funding, Inc., 5.000%, 03/14/2034 | | | 11,911 | | | | 0.0 | |
| 29,000 (1) | | | Blackstone Holdings Finance Co. LLC, 2.000%, 01/30/2032 | | | 22,844 | | | | 0.0 | |
| 30,000 (1) | | | Blackstone Private Credit Fund, 5.950%, 07/16/2029 | | | 29,393 | | | | 0.0 | |
| 35,000 | | | Blackstone Secured Lending Fund, 5.875%, 11/15/2027 | | | 34,760 | | | | 0.0 | |
| 15,000 | | | Blue Owl Credit Income Corp., 6.650%, 03/15/2031 | | | 14,669 | | | | 0.0 | |
| 19,000 | | | Boeing Co., 5.705%, 05/01/2040 | | | 17,527 | | | | 0.0 | |
| 10,000 (1) | | | Boeing Co., 6.858%, 05/01/2054 | | | 10,270 | | | | 0.0 | |
| 58,000 (1)(3) | | | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 | | | 54,663 | | | | 0.1 | |
| 62,000 (1) | | | Booz Allen Hamilton, Inc., 4.000%, 07/01/2029 | | | 58,115 | | | | 0.1 | |
| 12,000 | | | BP Capital Markets America, Inc., 4.893%, 09/11/2033 | | | 11,675 | | | | 0.0 | |
| 6,000 | | | BP Capital Markets America, Inc., 4.989%, 04/10/2034 | | | 5,872 | | | | 0.0 | |
| 22,000 | | | Bristol-Myers Squibb Co., 5.100%, 02/22/2031 | | | 22,090 | | | | 0.0 | |
| 13,000 | | | Bristol-Myers Squibb Co., 5.650%, 02/22/2064 | | | 12,709 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 12,000 (3) | | | Bristol-Myers Squibb Co., 6.250%, 11/15/2053 | | $ | 12,897 | | | | 0.0 | |
| 16,000 | | | Bristol-Myers Squibb Co., 6.400%, 11/15/2063 | | | 17,385 | | | | 0.0 | |
| 67,000 (1) | | | Broadcom, Inc., 3.187%, 11/15/2036 | | | 53,047 | | | | 0.1 | |
| 44,000 (1) | | | Broadcom, Inc., 4.926%, 05/15/2037 | | | 41,404 | | | | 0.1 | |
| 34,000 | | | Brookfield Finance LLC / Brookfield Finance, Inc., 3.450%, 04/15/2050 | | | 23,423 | | | | 0.0 | |
| 7,000 | | | Burlington Northern Santa Fe LLC, 3.900%, 08/01/2046 | | | 5,533 | | | | 0.0 | |
| 15,000 (3) | | | Burlington Northern Santa Fe LLC, 5.500%, 03/15/2055 | | | 15,038 | | | | 0.0 | |
| 27,000 | | | Camden Property Trust, 4.900%, 01/15/2034 | | | 25,846 | | | | 0.0 | |
| 33,000 | | | Camden Property Trust, 5.850%, 11/03/2026 | | | 33,483 | | | | 0.0 | |
| 34,000 | | | Campbell Soup Co., 5.200%, 03/21/2029 | | | 34,031 | | | | 0.0 | |
| 7,000 | | | Cardinal Health, Inc., 5.450%, 02/15/2034 | | | 6,972 | | | | 0.0 | |
| 20,000 (1) | | | Cargill, Inc., 1.700%, 02/02/2031 | | | 16,337 | | | | 0.0 | |
| 20,000 (1) | | | Cargill, Inc., 2.125%, 04/23/2030 | | | 17,168 | | | | 0.0 | |
| 51,000 (1) | | | Cargill, Inc., 2.125%, 11/10/2031 | | | 41,720 | | | | 0.1 | |
| 7,000 | | | Carrier Global Corp., 2.722%, 02/15/2030 | | | 6,187 | | | | 0.0 | |
| 8,000 | | | Carrier Global Corp., 5.900%, 03/15/2034 | | | 8,353 | | | | 0.0 | |
| 24,000 | | | Cencora, Inc., 5.125%, 02/15/2034 | | | 23,573 | | | | 0.0 | |
| 6,000 | | | Centene Corp., 2.450%, 07/15/2028 | | | 5,332 | | | | 0.0 | |
| 40,000 | | | Centene Corp., 2.500%, 03/01/2031 | | | 32,857 | | | | 0.0 | |
| 115,000 | | | Centene Corp., 3.000%, 10/15/2030 | | | 98,417 | | | | 0.1 | |
| 28,000 | | | CenterPoint Energy, Inc., 4.250%, 11/01/2028 | | | 26,851 | | | | 0.0 | |
| 15,000 | | | CenterPoint Energy, Inc., 5.400%, 06/01/2029 | | | 15,060 | | | | 0.0 | |
| 15,000 (2)(3) | | | Charles Schwab Corp. H, 4.000%, 12/31/2199 | | | 12,829 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 36,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 2.250%, 01/15/2029 | | $ | 30,781 | | | | 0.0 | |
| 14,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061 | | | 9,142 | | | | 0.0 | |
| 3,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.800%, 03/01/2050 | | | 2,203 | | | | 0.0 | |
| 45,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.100%, 06/01/2029 | | | 45,164 | | | | 0.1 | |
| 25,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.550%, 06/01/2034 | | | 25,023 | | | | 0.0 | |
| 22,000 | | | Cheniere Energy Partners L.P., 5.950%, 06/30/2033 | | | 22,321 | | | | 0.0 | |
| 5,000 (1) | | | Cheniere Energy, Inc., 5.650%, 04/15/2034 | | | 5,007 | | | | 0.0 | |
| 20,000 | | | Choice Hotels International, Inc., 5.850%, 08/01/2034 | | | 19,720 | | | | 0.0 | |
| 6,000 | | | Chubb INA Holdings, Inc., 3.050%, 12/15/2061 | | | 3,805 | | | | 0.0 | |
| 167,000 | | | Cigna Group, 2.375%, 03/15/2031 | | | 140,167 | | | | 0.1 | |
| 23,000 (3) | | | Cigna Group, 5.250%, 02/15/2034 | | | 22,691 | | | | 0.0 | |
| 14,000 (3) | | | Cigna Group, 5.400%, 03/15/2033 | | | 14,058 | | | | 0.0 | |
| 41,000 | | | Cigna Group, 5.600%, 02/15/2054 | | | 39,392 | | | | 0.1 | |
| 36,000 | | | Cisco Systems, Inc., 4.950%, 02/26/2031 | | | 35,981 | | | | 0.0 | |
| 25,000 | | | Cisco Systems, Inc., 5.050%, 02/26/2034 | | | 24,991 | | | | 0.0 | |
| 13,000 | | | Cisco Systems, Inc., 5.300%, 02/26/2054 | | | 12,742 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 15,000 | | | Cisco Systems, Inc., 5.350%, 02/26/2064 | | $ | 14,612 | | | | 0.0 | |
| 42,000 | | | Citizens Financial Group, Inc., 2.500%, 02/06/2030 | | | 35,638 | | | | 0.0 | |
| 29,000 (2) | | | Citizens Financial Group, Inc., 5.641%, 05/21/2037 | | | 26,924 | | | | 0.0 | |
| 14,000 (2)(3) | | | Citizens Financial Group, Inc., 6.645%, 04/25/2035 | | | 14,478 | | | | 0.0 | |
| 265,000 (1) | | | Cleveland Electric Illuminating Co., 3.500%, 04/01/2028 | | | 248,503 | | | | 0.2 | |
| 40,000 | | | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | | | 39,852 | | | | 0.1 | |
| 47,000 | | | CNH Industrial Capital LLC, 5.500%, 01/12/2029 | | | 47,515 | | | | 0.1 | |
| 51,000 | | | CNO Financial Group, Inc., 6.450%, 06/15/2034 | | | 50,989 | | | | 0.1 | |
| 45,000 (1) | | | CNO Global Funding, 5.875%, 06/04/2027 | | | 45,174 | | | | 0.1 | |
| 17,000 | | | Coca-Cola Co., 5.300%, 05/13/2054 | | | 16,882 | | | | 0.0 | |
| 17,000 | | | Coca-Cola Co., 5.400%, 05/13/2064 | | | 16,868 | | | | 0.0 | |
| 30,000 | | | Coca-Cola Consolidated, Inc., 5.250%, 06/01/2029 | | | 30,145 | | | | 0.0 | |
| 57,000 (1) | | | Columbia Pipelines Holding Co. LLC, 6.042%, 08/15/2028 | | | 58,315 | | | | 0.1 | |
| 30,000 | | | Comcast Corp., 1.950%, 01/15/2031 | | | 24,787 | | | | 0.0 | |
| 68,000 | | | Comcast Corp., 4.250%, 01/15/2033 | | | 63,603 | | | | 0.1 | |
| 15,000 | | | Comcast Corp., 5.300%, 06/01/2034 | | | 15,043 | | | | 0.0 | |
| 36,000 | | | Comcast Corp., 5.500%, 05/15/2064 | | | 34,665 | | | | 0.0 | |
| 49,000 | | | Comcast Corp., 5.650%, 06/15/2035 | | | 50,375 | | | | 0.1 | |
| 42,000 (3) | | | Concentrix Corp., 6.600%, 08/02/2028 | | | 42,526 | | | | 0.1 | |
| 22,000 | | | ConocoPhillips Co., 5.700%, 09/15/2063 | | | 21,876 | | | | 0.0 | |
| 13,000 | | | Consolidated Edison Co. of New York, Inc., 4.625%, 12/01/2054 | | | 11,008 | | | | 0.0 | |
| 53,000 | | | Corebridge Financial, Inc., 3.850%, 04/05/2029 | | | 49,702 | | | | 0.1 | |
| 127,000 | | | Corebridge Financial, Inc., 3.900%, 04/05/2032 | | | 113,721 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 25,000 | | | Corebridge Financial, Inc., 5.750%, 01/15/2034 | | $ | 25,181 | | | | 0.0 | |
| 18,000 (1) | | | Corebridge Financial, Inc., 6.050%, 09/15/2033 | | | 18,472 | | | | 0.0 | |
| 28,000 (2) | | | Corebridge Financial, Inc., 6.875%, 12/15/2052 | | | 28,273 | | | | 0.0 | |
| 20,000 | | | Crown Castle, Inc., 2.900%, 03/15/2027 | | | 18,779 | | | | 0.0 | |
| 42,000 | | | Crown Castle, Inc., 3.300%, 07/01/2030 | | | 37,446 | | | | 0.1 | |
| 12,000 | | | Crown Castle, Inc., 4.800%, 09/01/2028 | | | 11,753 | | | | 0.0 | |
| 21,000 | | | Crown Castle, Inc., 5.600%, 06/01/2029 | | | 21,186 | | | | 0.0 | |
| 19,000 | | | Crown Castle, Inc., 5.800%, 03/01/2034 | | | 19,203 | | | | 0.0 | |
| 27,000 | | | CSX Corp., 4.500%, 08/01/2054 | | | 23,077 | | | | 0.0 | |
| 8,000 | | | Cummins, Inc., 5.450%, 02/20/2054 | | | 7,852 | | | | 0.0 | |
| 9,000 | | | CVS Health Corp., 5.050%, 03/25/2048 | | | 7,760 | | | | 0.0 | |
| 10,000 | | | CVS Health Corp., 5.625%, 02/21/2053 | | | 9,293 | | | | 0.0 | |
| 17,000 (3) | | | CVS Health Corp., 5.700%, 06/01/2034 | | | 16,960 | | | | 0.0 | |
| 6,000 | | | CVS Health Corp., 5.875%, 06/01/2053 | | | 5,754 | | | | 0.0 | |
| 3,000 | | | CVS Health Corp., 6.000%, 06/01/2063 | | | 2,876 | | | | 0.0 | |
| 10,000 | | | CVS Health Corp., 6.050%, 06/01/2054 | | | 9,814 | | | | 0.0 | |
| 47,000 | | | Deere & Co., 3.100%, 04/15/2030 | | | 42,766 | | | | 0.1 | |
| 118,000 | | | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | | | 119,279 | | | | 0.1 | |
| 30,000 | | | Diamondback Energy, Inc., 4.250%, 03/15/2052 | | | 23,270 | | | | 0.0 | |
| 16,000 (3) | | | Diamondback Energy, Inc., 5.750%, 04/18/2054 | | | 15,522 | | | | 0.0 | |
| 18,000 | | | Diamondback Energy, Inc., 5.900%, 04/18/2064 | | | 17,388 | | | | 0.0 | |
| 42,000 | | | Discovery Communications LLC, 3.625%, 05/15/2030 | | | 36,972 | | | | 0.0 | |
| 23,000 | | | Dollar General Corp., 3.500%, 04/03/2030 | | | 21,018 | | | | 0.0 | |
| 36,000 | | | DTE Electric Co., 4.300%, 07/01/2044 | | | 30,610 | | | | 0.0 | |
| 71,000 | | | DTE Energy Co., 5.100%, 03/01/2029 | | | 70,444 | | | | 0.1 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 6,000 | | | Duke Energy Carolinas LLC, 5.350%, 01/15/2053 | | $ | 5,705 | | | | 0.0 | |
| 40,000 | | | Duke Energy Florida LLC, 2.400%, 12/15/2031 | | | 33,236 | | | | 0.0 | |
| 10,000 | | | Duke Energy Florida LLC, 5.875%, 11/15/2033 | | | 10,405 | | | | 0.0 | |
| 11,000 | | | Duke Energy Indiana LLC, 5.400%, 04/01/2053 | | | 10,431 | | | | 0.0 | |
| 8,000 | | | Duke Energy Ohio, Inc., 5.250%, 04/01/2033 | | | 7,937 | | | | 0.0 | |
| 5,000 | | | Duke Energy Ohio, Inc., 5.650%, 04/01/2053 | | | 4,838 | | | | 0.0 | |
| 18,000 | | | Elevance Health, Inc., 4.900%, 02/08/2026 | | | 17,866 | | | | 0.0 | |
| 14,000 | | | Eli Lilly & Co., 4.700%, 02/09/2034 | | | 13,733 | | | | 0.0 | |
| 16,000 | | | Eli Lilly & Co., 5.000%, 02/09/2054 | | | 15,291 | | | | 0.0 | |
| 90,000 | | | Enact Holdings, Inc., 6.250%, 05/28/2029 | | | 90,063 | | | | 0.1 | |
| 42,000 | | | Energy Transfer L.P., 3.750%, 05/15/2030 | | | 38,650 | | | | 0.1 | |
| 12,000 | | | Energy Transfer L.P., 5.550%, 05/15/2034 | | | 11,884 | | | | 0.0 | |
| 21,000 | | | Energy Transfer L.P., 5.950%, 05/15/2054 | | | 20,462 | | | | 0.0 | |
| 2,000 | | | Entergy Arkansas LLC, 3.350%, 06/15/2052 | | | 1,353 | | | | 0.0 | |
| 5,000 | | | Entergy Arkansas LLC, 4.200%, 04/01/2049 | | | 3,982 | | | | 0.0 | |
| 10,000 (2) | | | Entergy Corp., 7.125%, 12/01/2054 | | | 9,936 | | | | 0.0 | |
| 55,000 | | | Entergy Louisiana LLC, 4.200%, 04/01/2050 | | | 43,201 | | | | 0.1 | |
| 7,000 | | | Entergy Louisiana LLC, 5.350%, 03/15/2034 | | | 6,951 | | | | 0.0 | |
| 23,000 | | | Entergy Mississippi LLC, 5.000%, 09/01/2033 | | | 22,301 | | | | 0.0 | |
| 6,000 | | | Entergy Texas, Inc., 5.800%, 09/01/2053 | | | 6,008 | | | | 0.0 | |
| 42,000 | | | Equifax, Inc., 3.100%, 05/15/2030 | | | 37,479 | | | | 0.1 | |
| 60,000 | | | Essent Group Ltd., 6.250%, 07/01/2029 | | | 59,992 | | | | 0.1 | |
| 163,000 | | | Essential Utilities, Inc., 2.704%, 04/15/2030 | | | 141,814 | | | | 0.1 | |
| 12,000 | | | Essential Utilities, Inc., 5.375%, 01/15/2034 | | | 11,796 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 18,000 | | | Evergy Kansas Central, Inc., 3.250%, 09/01/2049 | | $ | 12,052 | | | | 0.0 | |
| 29,000 | | | Evergy Kansas Central, Inc., 4.125%, 03/01/2042 | | | 23,925 | | | | 0.0 | |
| 8,000 | | | Evergy Kansas Central, Inc., 5.900%, 11/15/2033 | | | 8,231 | | | | 0.0 | |
| 42,000 | | | Eversource Energy, 2.550%, 03/15/2031 | | | 35,005 | | | | 0.0 | |
| 51,000 | | | Eversource Energy, 2.900%, 03/01/2027 | | | 47,934 | | | | 0.1 | |
| 14,000 | | | Eversource Energy, 5.125%, 05/15/2033 | | | 13,447 | | | | 0.0 | |
| 30,000 | | | Eversource Energy, 5.450%, 03/01/2028 | | | 30,101 | | | | 0.0 | |
| 15,000 | | | Eversource Energy, 5.500%, 01/01/2034 | | | 14,724 | | | | 0.0 | |
| 28,000 | | | Eversource Energy, 5.950%, 02/01/2029 | | | 28,624 | | | | 0.0 | |
| 48,000 | | | Eversource Energy U, 1.400%, 08/15/2026 | | | 44,087 | | | | 0.1 | |
| 49,000 | | | Exelon Corp., 5.150%, 03/15/2028 | | | 48,906 | | | | 0.1 | |
| 36,000 | | | Exelon Corp., 5.150%, 03/15/2029 | | | 35,875 | | | | 0.0 | |
| 49,000 | | | Extra Space Storage L.P., 2.350%, 03/15/2032 | | | 39,058 | | | | 0.1 | |
| 35,000 | | | Extra Space Storage L.P., 3.900%, 04/01/2029 | | | 32,985 | | | | 0.0 | |
| 29,000 | | | Exxon Mobil Corp., 2.995%, 08/16/2039 | | | 22,040 | | | | 0.0 | |
| 25,000 (3) | | | FedEx Corp., 5.250%, 05/15/2050 | | | 23,295 | | | | 0.0 | |
| 250,000 (3) | | | First Horizon Bank, 5.750%, 05/01/2030 | | | 238,416 | | | | 0.2 | |
| 45,000 | | | FirstEnergy Corp. B, 4.150%, 07/15/2027 | | | 43,212 | | | | 0.1 | |
| 32,000 | | | Fiserv, Inc., 5.150%, 03/15/2027 | | | 32,027 | | | | 0.0 | |
| 21,000 | | | Florida Power & Light Co., 4.625%, 05/15/2030 | | | 20,587 | | | | 0.0 | |
| 15,000 | | | FMC Corp., 5.150%, 05/18/2026 | | | 14,902 | | | | 0.0 | |
| 42,000 | | | Fortune Brands Innovations, Inc., 3.250%, 09/15/2029 | | | 38,074 | | | | 0.1 | |
| 16,000 | | | Fortune Brands Innovations, Inc., 5.875%, 06/01/2033 | | | 16,222 | | | | 0.0 | |
| 42,000 | | | GATX Corp., 4.000%, 06/30/2030 | | | 39,099 | | | | 0.1 | |
| 15,000 | | | GATX Corp., 6.050%, 06/05/2054 | | | 15,034 | | | | 0.0 | |
| 90,000 | | | General Mills, Inc., 2.875%, 04/15/2030 | | | 79,860 | | | | 0.1 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 47,000 | | | General Motors Financial Co., Inc., 2.350%, 01/08/2031 | | $ | 38,578 | | | | 0.1 | |
| 202,000 | | | General Motors Financial Co., Inc., 5.250%, 03/01/2026 | | | 200,988 | | | | 0.2 | |
| 87,000 | | | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | | | 87,024 | | | | 0.1 | |
| 14,000 | | | General Motors Financial Co., Inc., 5.950%, 04/04/2034 | | | 14,017 | | | | 0.0 | |
| 12,000 (3) | | | General Motors Financial Co., Inc., 6.100%, 01/07/2034 | | | 12,135 | | | | 0.0 | |
| 18,000 | | | Georgia Power Co., 4.650%, 05/16/2028 | | | 17,729 | | | | 0.0 | |
| 55,000 | | | Global Payments, Inc., 3.200%, 08/15/2029 | | | 49,435 | | | | 0.1 | |
| 30,000 (2) | | | Goldman Sachs Bank USA/New York NY, 5.283%, 03/18/2027 | | | 29,912 | | | | 0.0 | |
| 15,000 (2) | | | Goldman Sachs Bank USA/New York NY, 5.414%, 05/21/2027 | | | 14,980 | | | | 0.0 | |
| 35,000 (2) | | | Goldman Sachs Group, Inc., 3.102%, 02/24/2033 | | | 29,903 | | | | 0.0 | |
| 20,000 (2) | | | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | | | 20,360 | | | | 0.0 | |
| 8,000 (2) | | | Goldman Sachs Group, Inc., 5.851%, 04/25/2035 | | | 8,198 | | | | 0.0 | |
| 20,000 (2) | | | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | | | 20,885 | | | | 0.0 | |
| 27,000 | | | HCA, Inc., 2.375%, 07/15/2031 | | | 22,179 | | | | 0.0 | |
| 18,000 | | | HCA, Inc., 3.125%, 03/15/2027 | | | 17,010 | | | | 0.0 | |
| 11,000 | | | HCA, Inc., 3.500%, 09/01/2030 | | | 9,925 | | | | 0.0 | |
| 118,000 | | | HCA, Inc., 4.125%, 06/15/2029 | | | 111,771 | | | | 0.1 | |
| 16,000 | | | HCA, Inc., 4.375%, 03/15/2042 | | | 13,166 | | | | 0.0 | |
| 30,000 | | | HCA, Inc., 5.450%, 04/01/2031 | | | 29,987 | | | | 0.0 | |
| 10,000 | | | HCA, Inc., 6.000%, 04/01/2054 | | | 9,887 | | | | 0.0 | |
| 9,000 | | | HCA, Inc., 6.100%, 04/01/2064 | | | 8,805 | | | | 0.0 | |
| 45,000 (1) | | | Health Care Service Corp. A Mutual Legal Reserve Co., 5.200%, 06/15/2029 | | | 44,818 | | | | 0.1 | |
| 115,000 | | | Healthpeak OP LLC, 3.000%, 01/15/2030 | | | 102,096 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 30,000 | | | Healthpeak OP LLC, 5.250%, 12/15/2032 | | $ | 29,469 | | | | 0.0 | |
| 49,000 | | | HEICO Corp., 5.250%, 08/01/2028 | | | 49,093 | | | | 0.1 | |
| 48,000 | | | Hess Corp., 4.300%, 04/01/2027 | | | 46,820 | | | | 0.1 | |
| 34,000 | | | Home Depot, Inc., 2.700%, 04/15/2030 | | | 30,303 | | | | 0.0 | |
| 10,000 (3) | | | Home Depot, Inc., 5.400%, 06/25/2064 | | | 9,754 | | | | 0.0 | |
| 30,000 | | | Honeywell International, Inc., 5.250%, 03/01/2054 | | | 29,132 | | | | 0.0 | |
| 22,000 | | | HP, Inc., 2.650%, 06/17/2031 | | | 18,654 | | | | 0.0 | |
| 31,000 | | | Humana, Inc., 5.375%, 04/15/2031 | | | 30,845 | | | | 0.0 | |
| 27,000 (2) | | | Huntington Bancshares, Inc., 2.487%, 08/15/2036 | | | 20,516 | | | | 0.0 | |
| 39,000 (2) | | | Huntington Bancshares, Inc., 5.709%, 02/02/2035 | | | 38,413 | | | | 0.1 | |
| 42,000 | | | Huntington Ingalls Industries, Inc., 4.200%, 05/01/2030 | | | 39,514 | | | | 0.1 | |
| 15,000 | | | Hyatt Hotels Corp., 5.250%, 06/30/2029 | | | 14,881 | | | | 0.0 | |
| 9,000 (1) | | | Hyundai Capital America, 5.400%, 01/08/2031 | | | 8,944 | | | | 0.0 | |
| 35,000 (1) | | | Hyundai Capital America, 5.680%, 06/26/2028 | | | 35,382 | | | | 0.0 | |
| 90,000 (1) | | | Hyundai Capital America, 6.100%, 09/21/2028 | | | 92,455 | | | | 0.1 | |
| 32,000 (1) | | | Hyundai Capital America, 6.500%, 01/16/2029 | | | 33,429 | | | | 0.0 | |
| 100,000 | | | IBM International Capital Pte Ltd., 4.750%, 02/05/2031 | | | 98,016 | | | | 0.1 | |
| 10,000 | | | Ingersoll Rand, Inc., 5.176%, 06/15/2029 | | | 10,003 | | | | 0.0 | |
| 16,000 | | | Ingersoll Rand, Inc., 5.400%, 08/14/2028 | | | 16,154 | | | | 0.0 | |
| 7,000 (3) | | | Ingersoll Rand, Inc., 5.450%, 06/15/2034 | | | 7,064 | | | | 0.0 | |
| 5,000 | | | Ingersoll Rand, Inc., 5.700%, 08/14/2033 | | | 5,114 | | | | 0.0 | |
| 18,000 | | | Intel Corp., 2.450%, 11/15/2029 | | | 15,834 | | | | 0.0 | |
| 37,000 | | | Intel Corp., 5.125%, 02/10/2030 | | | 37,169 | | | | 0.1 | |
| 10,000 | | | Intel Corp., 5.600%, 02/21/2054 | | | 9,696 | | | | 0.0 | |
| 4,000 | | | Intel Corp., 5.700%, 02/10/2053 | | | 3,935 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | United States: (continued) | | | | | | | | |
| 29,000 | | | Intercontinental Exchange, Inc., 2.100%, 06/15/2030 | | $ | 24,570 | | | | 0.0 | |
| 12,000 | | | Interstate Power and Light Co., 3.100%, 11/30/2051 | | | 7,604 | | | | 0.0 | |
| 25,000 | | | Intuit, Inc., 5.200%, 09/15/2033 | | | 25,114 | | | | 0.0 | |
| 28,000 | | | Intuit, Inc., 5.500%, 09/15/2053 | | | 28,153 | | | | 0.0 | |
| 42,000 | | | Invitation Homes Operating Partnership L.P., 2.000%, 08/15/2031 | | | 33,366 | | | | 0.0 | |
| 40,000 | | | Jefferies Financial Group, Inc., 6.200%, 04/14/2034 | | | 40,535 | | | | 0.1 | |
| 80,000 | | | John Deere Capital Corp., 4.700%, 06/10/2030 | | | 79,249 | | | | 0.1 | |
| 58,000 | | | John Deere Capital Corp., 4.900%, 03/07/2031 | | | 57,739 | | | | 0.1 | |
| 30,000 | | | John Deere Capital Corp., 5.050%, 06/12/2034 | | | 29,914 | | | | 0.0 | |
| 55,000 | | | Johnson & Johnson, 3.625%, 03/03/2037 | | | 48,033 | | | | 0.1 | |
| 14,000 (3) | | | Johnson & Johnson, 4.950%, 06/01/2034 | | | 14,168 | | | | 0.0 | |
| 66,000 | | | Jones Lang LaSalle, Inc., 6.875%, 12/01/2028 | | | 69,541 | | | | 0.1 | |
| 135,000 (2) | | | JPMorgan Chase & Co., 1.470%, 09/22/2027 | | | 124,022 | | | | 0.1 | |
| 99,000 (2) | | | JPMorgan Chase & Co., 1.578%, 04/22/2027 | | | 92,423 | | | | 0.1 | |
| 8,000 (2) | | | JPMorgan Chase & Co., 1.953%, 02/04/2032 | | | 6,510 | | | | 0.0 | |
| 92,000 (2) | | | JPMorgan Chase & Co., 2.069%, 06/01/2029 | | | 81,864 | | | | 0.1 | |
| 24,000 (2) | | | JPMorgan Chase & Co., 2.595%, 02/24/2026 | | | 23,526 | | | | 0.0 | |
| 78,000 (2) | | | JPMorgan Chase & Co., 2.947%, 02/24/2028 | | | 73,484 | | | | 0.1 | |
| 565,000 | | | JPMorgan Chase & Co., 2.950%, 10/01/2026 | | | 538,537 | | | | 0.5 | |
| 42,000 (2) | | | JPMorgan Chase & Co., 3.702%, 05/06/2030 | | | 39,283 | | | | 0.1 | |
| 23,000 (2) | | | JPMorgan Chase & Co., 4.452%, 12/05/2029 | | | 22,334 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 53,000 (2) | | | JPMorgan Chase & Co., 5.336%, 01/23/2035 | | $ | 52,706 | | | | 0.1 | |
| 42,000 (2) | | | JPMorgan Chase & Co., 5.571%, 04/22/2028 | | | 42,349 | | | | 0.1 | |
| 42,000 (2) | | | JPMorgan Chase & Co., 5.581%, 04/22/2030 | | | 42,675 | | | | 0.1 | |
| 44,000 (2) | | | JPMorgan Chase & Co., 5.766%, 04/22/2035 | | | 45,161 | | | | 0.1 | |
| 10,000 | | | Kentucky Utilities Co. KENT, 5.450%, 04/15/2033 | | | 10,069 | | | | 0.0 | |
| 34,000 | | | Kenvue, Inc., 4.900%, 03/22/2033 | | | 33,638 | | | | 0.0 | |
| 21,000 | | | Kenvue, Inc., 5.050%, 03/22/2028 | | | 21,120 | | | | 0.0 | |
| 17,000 | | | Kenvue, Inc., 5.200%, 03/22/2063 | | | 16,061 | | | | 0.0 | |
| 16,000 | | | Keurig Dr Pepper, Inc., 5.050%, 03/15/2029 | | | 15,981 | | | | 0.0 | |
| 13,000 (2) | | | KeyCorp, 4.789%, 06/01/2033 | | | 11,884 | | | | 0.0 | |
| 43,000 (2) | | | KeyCorp, 6.401%, 03/06/2035 | | | 43,616 | | | | 0.1 | |
| 12,000 (3) | | | KLA Corp., 4.700%, 02/01/2034 | | | 11,668 | | | | 0.0 | |
| 13,000 | | | KLA Corp., 5.250%, 07/15/2062 | | | 12,425 | | | | 0.0 | |
| 42,000 | | | Kyndryl Holdings, Inc., 2.700%, 10/15/2028 | | | 37,355 | | | | 0.1 | |
| 22,000 | | | L3Harris Technologies, Inc., 5.050%, 06/01/2029 | | | 21,853 | | | | 0.0 | |
| 42,000 (1)(3) | | | Liberty Utilities Co., 5.577%, 01/31/2029 | | | 42,191 | | | | 0.1 | |
| 46,000 (1) | | | Liberty Utilities Co., 5.869%, 01/31/2034 | | | 46,085 | | | | 0.1 | |
| 17,000 (3) | | | Lockheed Martin Corp., 4.800%, 08/15/2034 | | | 16,608 | | | | 0.0 | |
| 14,000 | | | Lockheed Martin Corp., 5.200%, 02/15/2064 | | | 13,249 | | | | 0.0 | |
| 14,000 | | | Lockheed Martin Corp., 5.250%, 01/15/2033 | | | 14,238 | | | | 0.0 | |
| 8,000 | | | Lockheed Martin Corp., 5.900%, 11/15/2063 | | | 8,401 | | | | 0.0 | |
| 10,000 | | | Louisville Gas and Electric Co. LOU, 5.450%, 04/15/2033 | | | 10,057 | | | | 0.0 | |
| 11,000 | | | Lowe’s Cos., Inc., 5.750%, 07/01/2053 | | | 10,847 | | | | 0.0 | |
| 8,000 | | | Lowe’s Cos., Inc., 5.850%, 04/01/2063 | | | 7,806 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 30,000 | | | LPL Holdings, Inc., 5.700%, 05/20/2027 | | $ | 30,129 | | | | 0.0 | |
| 13,000 | | | Marriott International, Inc., 4.875%, 05/15/2029 | | | 12,839 | | | | 0.0 | |
| 6,000 | | | Marsh & McLennan Cos., Inc., 5.450%, 03/15/2054 | | | 5,838 | | | | 0.0 | |
| 23,000 | | | Marvell Technology, Inc., 5.750%, 02/15/2029 | | | 23,493 | | | | 0.0 | |
| 7,000 | | | Merck & Co., Inc., 4.500%, 05/17/2033 | | | 6,762 | | | | 0.0 | |
| 20,000 | | | Meta Platforms, Inc., 4.450%, 08/15/2052 | | | 17,254 | | | | 0.0 | |
| 5,000 | | | Meta Platforms, Inc., 4.650%, 08/15/2062 | | | 4,313 | | | | 0.0 | |
| 42,000 | | | Meta Platforms, Inc., 5.750%, 05/15/2063 | | | 43,187 | | | | 0.1 | |
| 380,000 (1) | | | Metropolitan Edison Co., 4.000%, 04/15/2025 | | | 374,047 | | | | 0.4 | |
| 25,000 | | | Mid-America Apartments L.P., 5.300%, 02/15/2032 | | | 24,903 | | | | 0.0 | |
| 16,000 | | | MidAmerican Energy Co., 5.850%, 09/15/2054 | | | 16,404 | | | | 0.0 | |
| 87,000 | | | Mississippi Power Co. 12-A, 4.250%, 03/15/2042 | | | 71,747 | | | | 0.1 | |
| 19,000 (3) | | | Mohawk Industries, Inc., 5.850%, 09/18/2028 | | | 19,389 | | | | 0.0 | |
| 41,000 | | | Mondelez International, Inc., 2.750%, 04/13/2030 | | | 36,357 | | | | 0.0 | |
| 25,000 | | | Mondelez International, Inc., 4.750%, 02/20/2029 | | | 24,709 | | | | 0.0 | |
| 23,000 (1) | | | Monongahela Power Co., 5.850%, 02/15/2034 | | | 23,432 | | | | 0.0 | |
| 38,000 (2) | | | Morgan Stanley, 0.985%, 12/10/2026 | | | 35,547 | | | | 0.0 | |
| 30,000 (2) | | | Morgan Stanley, 1.512%, 07/20/2027 | | | 27,740 | | | | 0.0 | |
| 494,000 (2) | | | Morgan Stanley, 1.593%, 05/04/2027 | | | 460,738 | | | | 0.4 | |
| 19,000 (2) | | | Morgan Stanley, 2.484%, 09/16/2036 | | | 15,039 | | | | 0.0 | |
| 47,000 (2) | | | Morgan Stanley, 2.720%, 07/22/2025 | | | 46,913 | | | | 0.1 | |
| 210,000 | | | Morgan Stanley, 3.125%, 07/27/2026 | | | 200,813 | | | | 0.2 | |
| 21,000 (2) | | | Morgan Stanley, 3.591%, 07/22/2028 | | | 19,975 | | | | 0.0 | |
| 82,000 (2) | | | Morgan Stanley, 5.164%, 04/20/2029 | | | 81,752 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 42,000 (2) | | | Morgan Stanley, 5.250%, 04/21/2034 | | $ | 41,362 | | | | 0.1 | |
| 14,000 (2) | | | Morgan Stanley, 5.466%, 01/18/2035 | | | 13,969 | | | | 0.0 | |
| 19,000 (2) | | | Morgan Stanley, 5.831%, 04/19/2035 | | | 19,484 | | | | 0.0 | |
| 63,000 (2) | | | Morgan Stanley, 5.942%, 02/07/2039 | | | 62,338 | | | | 0.1 | |
| 39,000 (2) | | | Morgan Stanley, 5.948%, 01/19/2038 | | | 38,795 | | | | 0.1 | |
| 86,000 (2) | | | Morgan Stanley, 6.296%, 10/18/2028 | | | 88,761 | | | | 0.1 | |
| 22,000 | | | Motorola Solutions, Inc., 5.000%, 04/15/2029 | | | 21,836 | | | | 0.0 | |
| 28,000 | | | MPLX L.P., 2.650%, 08/15/2030 | | | 24,140 | | | | 0.0 | |
| 12,000 | | | MPLX L.P., 5.500%, 06/01/2034 | | | 11,823 | | | | 0.0 | |
| 267,000 | | | National Rural Utilities Cooperative Finance Corp., 3.900%, 11/01/2028 | | | 254,629 | | | | 0.3 | |
| 27,000 | | | National Rural Utilities Cooperative Finance Corp., 4.150%, 12/15/2032 | | | 24,895 | | | | 0.0 | |
| 24,000 | | | National Rural Utilities Cooperative Finance Corp., 5.000%, 02/07/2031 | | | 23,771 | | | | 0.0 | |
| 18,000 | | | National Rural Utilities Cooperative Finance Corp., 5.800%, 01/15/2033 | | | 18,510 | | | | 0.0 | |
| 8,000 | | | Nevada Power Co., 6.000%, 03/15/2054 | | | 8,144 | | | | 0.0 | |
| 20,000 (2) | | | NextEra Energy Capital Holdings, Inc., 6.700%, 09/01/2054 | | | 20,042 | | | | 0.0 | |
| 19,000 (1) | | | Niagara Mohawk Power Corp., 5.664%, 01/17/2054 | | | 18,294 | | | | 0.0 | |
| 14,000 | | | NMI Holdings, Inc., 6.000%, 08/15/2029 | | | 13,890 | | | | 0.0 | |
| 13,000 | | | Norfolk Southern Corp., 2.550%, 11/01/2029 | | | 11,465 | | | | 0.0 | |
| 20,000 | | | Norfolk Southern Corp., 5.050%, 08/01/2030 | | | 19,977 | | | | 0.0 | |
| 10,000 | | | Norfolk Southern Corp., 5.550%, 03/15/2034 | | | 10,207 | | | | 0.0 | |
| 19,000 | | | Norfolk Southern Corp., 5.950%, 03/15/2064 | | | 19,380 | | | | 0.0 | |
| 7,000 | | | Northern States Power Co., 5.650%, 06/15/2054 | | | 6,991 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 50,000 (2) | | | Northern Trust Corp., 3.375%, 05/08/2032 | | $ | 47,253 | | | | 0.1 | |
| 10,000 | | | NSTAR Electric Co., 5.400%, 06/01/2034 | | | 10,013 | | | | 0.0 | |
| 22,000 | | | Nucor Corp., 4.300%, 05/23/2027 | | | 21,531 | | | | 0.0 | |
| 107,000 (1) | | | Nuveen LLC, 5.550%, 01/15/2030 | | | 107,618 | | | | 0.1 | |
| 40,000 | | | Occidental Petroleum Corp., 6.125%, 01/01/2031 | | | 40,966 | | | | 0.1 | |
| 21,000 | | | Occidental Petroleum Corp., 6.200%, 03/15/2040 | | | 21,054 | | | | 0.0 | |
| 5,000 | | | Occidental Petroleum Corp., 6.600%, 03/15/2046 | | | 5,219 | | | | 0.0 | |
| 10,000 | | | OGE Energy Corp., 5.450%, 05/15/2029 | | | 10,080 | | | | 0.0 | |
| 56,000 | | | Old Republic International Corp., 5.750%, 03/28/2034 | | | 55,889 | | | | 0.1 | |
| 20,000 (1) | | | Oncor Electric Delivery Co. LLC, 5.550%, 06/15/2054 | | | 19,629 | | | | 0.0 | |
| 222,000 | | | Oracle Corp., 2.800%, 04/01/2027 | | | 208,483 | | | | 0.2 | |
| 44,000 | | | Oracle Corp., 3.800%, 11/15/2037 | | | 36,275 | | | | 0.0 | |
| 31,000 | | | Oracle Corp., 6.150%, 11/09/2029 | | | 32,436 | | | | 0.0 | |
| 46,000 | | | O’Reilly Automotive, Inc., 3.600%, 09/01/2027 | | | 43,841 | | | | 0.1 | |
| 91,000 | | | O’Reilly Automotive, Inc., 4.350%, 06/01/2028 | | | 88,567 | | | | 0.1 | |
| 13,000 | | | Ovintiv, Inc., 5.650%, 05/15/2028 | | | 13,152 | | | | 0.0 | |
| 10,000 | | | Ovintiv, Inc., 7.100%, 07/15/2053 | | | 10,980 | | | | 0.0 | |
| 23,000 | | | PACCAR Financial Corp., 5.000%, 03/22/2034 | | | 22,926 | | | | 0.0 | |
| 10,000 | | | Pacific Gas and Electric Co., 4.250%, 03/15/2046 | | | 7,559 | | | | 0.0 | |
| 8,000 | | | Pacific Gas and Electric Co., 4.300%, 03/15/2045 | | | 6,160 | | | | 0.0 | |
| 13,000 | | | Pacific Gas and Electric Co., 4.450%, 04/15/2042 | | | 10,322 | | | | 0.0 | |
| 11,000 | | | Pacific Gas and Electric Co., 6.750%, 01/15/2053 | | | 11,428 | | | | 0.0 | |
| 5,000 | | | Paramount Global, 4.950%, 05/19/2050 | | | 3,486 | | | | 0.0 | |
| 10,000 | | | Paramount Global, 5.850%, 09/01/2043 | | | 7,869 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 40,000 | | | PayPal Holdings, Inc., 5.150%, 06/01/2034 | | $ | 39,523 | | | | 0.1 | |
| 10,000 (3) | | | PECO Energy Co., 4.900%, 06/15/2033 | | | 9,801 | | | | 0.0 | |
| 24,000 (1) | | | Pennsylvania Electric Co., 5.150%, 03/30/2026 | | | 23,851 | | | | 0.0 | |
| 95,000 (1) | | | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | | | 94,986 | | | | 0.1 | |
| 70,000 (1) | | | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 6.200%, 06/15/2030 | | | 72,900 | | | | 0.1 | |
| 36,000 | | | Philip Morris International, Inc., 4.875%, 02/13/2029 | | | 35,612 | | | | 0.0 | |
| 16,000 | | | Philip Morris International, Inc., 5.250%, 02/13/2034 | | | 15,703 | | | | 0.0 | |
| 63,000 | | | Phillips 66, 3.850%, 04/09/2025 | | | 62,182 | | | | 0.1 | |
| 77,000 (2) | | | PNC Financial Services Group, Inc., 5.492%, 05/14/2030 | | | 77,446 | | | | 0.1 | |
| 33,000 (2) | | | PNC Financial Services Group, Inc., 5.676%, 01/22/2035 | | | 33,190 | | | | 0.0 | |
| 78,000 (2) | | | PNC Financial Services Group, Inc. W, 6.250%, 12/31/2199 | | | 76,204 | | | | 0.1 | |
| 18,000 | | | Prologis L.P., 2.250%, 01/15/2032 | | | 14,714 | | | | 0.0 | |
| 7,000 | | | Prologis L.P., 5.250%, 03/15/2054 | | | 6,621 | | | | 0.0 | |
| 62,000 (1) | | | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | | | 62,065 | | | | 0.1 | |
| 10,000 (1) | | | Prologis Targeted US Logistics Fund L.P., 5.500%, 04/01/2034 | | | 10,013 | | | | 0.0 | |
| 2,000 | | | Public Service Electric and Gas Co., 3.800%, 03/01/2046 | | | 1,567 | | | | 0.0 | |
| 20,000 | | | Public Service Electric and Gas Co., 5.200%, 08/01/2033 | | | 20,044 | | | | 0.0 | |
| 14,000 (3) | | | Public Service Electric and Gas Co., 5.200%, 03/01/2034 | | | 14,011 | | | | 0.0 | |
| 72,000 | | | Public Service Enterprise Group, Inc., 2.450%, 11/15/2031 | | | 59,320 | | | | 0.1 | |
| 66,000 | | | Public Service Enterprise Group, Inc., 5.200%, 04/01/2029 | | | 65,834 | | | | 0.1 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 18,000 | | | Puget Sound Energy, Inc., 3.250%, 09/15/2049 | | $ | 11,894 | | | | 0.0 | |
| 10,000 | | | Quest Diagnostics, Inc., 2.800%, 06/30/2031 | | | 8,565 | | | | 0.0 | |
| 10,000 | | | Quest Diagnostics, Inc., 2.950%, 06/30/2030 | | | 8,882 | | | | 0.0 | |
| 16,000 | | | Quest Diagnostics, Inc., 6.400%, 11/30/2033 | | | 17,133 | | | | 0.0 | |
| 62,000 | | | Raytheon Technologies Corp., 4.500%, 06/01/2042 | | | 53,741 | | | | 0.1 | |
| 23,000 | | | Realty Income Corp., 5.125%, 02/15/2034 | | | 22,334 | | | | 0.0 | |
| 25,000 (2) | | | Regions Financial Corp., 5.722%, 06/06/2030 | | | 24,992 | | | | 0.0 | |
| 15,000 | | | Rexford Industrial Realty L.P., 2.150%, 09/01/2031 | | | 11,972 | | | | 0.0 | |
| 6,000 | | | Reynolds American, Inc., 5.850%, 08/15/2045 | | | 5,540 | | | | 0.0 | |
| 25,000 (1) | | | RGA Global Funding, 5.448%, 05/24/2029 | | | 25,073 | | | | 0.0 | |
| 23,000 | | | Ross Stores, Inc., 4.700%, 04/15/2027 | | | 22,746 | | | | 0.0 | |
| 42,000 | | | Royalty Pharma PLC, 2.200%, 09/02/2030 | | | 35,017 | | | | 0.0 | |
| 20,000 | | | Royalty Pharma PLC, 5.150%, 09/02/2029 | | | 19,835 | | | | 0.0 | |
| 27,000 | | | Ryder System, Inc., 5.250%, 06/01/2028 | | | 27,065 | | | | 0.0 | |
| 4,000 | | | Ryder System, Inc., 5.375%, 03/15/2029 | | | 4,017 | | | | 0.0 | |
| 53,000 | | | Ryder System, Inc., 5.500%, 06/01/2029 | | | 53,519 | | | | 0.1 | |
| 3,000 (3) | | | Ryder System, Inc., 6.300%, 12/01/2028 | | | 3,124 | | | | 0.0 | |
| 19,000 | | | Ryder System, Inc., 6.600%, 12/01/2033 | | | 20,299 | | | | 0.0 | |
| 13,000 (3) | | | S&P Global, Inc., 1.250%, 08/15/2030 | | | 10,512 | | | | 0.0 | |
| 48,000 | | | S&P Global, Inc., 2.700%, 03/01/2029 | | | 43,527 | | | | 0.1 | |
| 27,000 (1) | | | Schlumberger Holdings Corp., 5.000%, 11/15/2029 | | | 26,806 | | | | 0.0 | |
| 52,000 (1) | | | Sealed Air Corp., 1.573%, 10/15/2026 | | | 47,377 | | | | 0.1 | |
| 30,000 (1) | | | Solventum Corp., 5.450%, 03/13/2031 | | | 29,631 | | | | 0.0 | |
| 23,000 (1) | | | Solventum Corp., 5.600%, 03/23/2034 | | | 22,600 | | | | 0.0 | |
| 8,000 (1) | | | Solventum Corp., 5.900%, 04/30/2054 | | | 7,652 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 20,000 | | | Southern California Edison Co., 5.450%, 06/01/2031 | | $ | 20,151 | | | | 0.0 | |
| 14,000 | | | Southern California Gas Co., 5.200%, 06/01/2033 | | | 13,833 | | | | 0.0 | |
| 36,000 | | | Southern Co., 5.113%, 08/01/2027 | | | 35,929 | | | | 0.0 | |
| 13,000 | | | Southwestern Electric Power Co., 5.300%, 04/01/2033 | | | 12,606 | | | | 0.0 | |
| 15,000 | | | Southwestern Public Service Co., 6.000%, 06/01/2054 | | | 14,970 | | | | 0.0 | |
| 90,000 | | | Sprint Capital Corp., 6.875%, 11/15/2028 | | | 95,474 | | | | 0.1 | |
| 100,000 | | | Sprint Capital Corp., 8.750%, 03/15/2032 | | | 120,370 | | | | 0.1 | |
| 30,000 (2) | | | State Street Corp., 5.684%, 11/21/2029 | | | 30,706 | | | | 0.0 | |
| 54,000 (2) | | | State Street Corp., 6.123%, 11/21/2034 | | | 56,113 | | | | 0.1 | |
| 39,000 | | | Sun Communities Operating L.P., 5.500%, 01/15/2029 | | | 39,025 | | | | 0.1 | |
| 20,000 | | | Take-Two Interactive Software, Inc., 5.400%, 06/12/2029 | | | 20,119 | | | | 0.0 | |
| 8,000 | | | Targa Resources Corp., 4.200%, 02/01/2033 | | | 7,197 | | | | 0.0 | |
| 10,000 | | | Targa Resources Corp., 6.500%, 03/30/2034 | | | 10,594 | | | | 0.0 | |
| 10,000 (1) | | | Teachers Insurance & Annuity Association of America, 3.300%, 05/15/2050 | | | 6,657 | | | | 0.0 | |
| 42,000 | | | Teledyne FLIR LLC, 2.500%, 08/01/2030 | | | 35,782 | | | | 0.0 | |
| 29,000 | | | Texas Instruments, Inc., 5.050%, 05/18/2063 | | | 26,972 | | | | 0.0 | |
| 71,000 | | | Thermo Fisher Scientific, Inc., 4.977%, 08/10/2030 | | | 71,120 | | | | 0.1 | |
| 13,000 | | | Thermo Fisher Scientific, Inc., 5.404%, 08/10/2043 | | | 13,000 | | | | 0.0 | |
| 27,000 | | | Time Warner Cable LLC, 5.500%, 09/01/2041 | | | 22,506 | | | | 0.0 | |
| 24,000 | | | T-Mobile USA, Inc., 3.875%, 04/15/2030 | | | 22,442 | | | | 0.0 | |
| 13,000 | | | T-Mobile USA, Inc., 6.000%, 06/15/2054 | | | 13,454 | | | | 0.0 | |
| 37,000 | | | Toyota Motor Credit Corp., 5.550%, 11/20/2030 | | | 38,022 | | | | 0.1 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 10,000 | | | Transcontinental Gas Pipe Line Co. LLC, 3.250%, 05/15/2030 | | $ | 9,028 | | | | 0.0 | |
| 30,000 (2)(3) | | | Truist Financial Corp., 4.916%, 07/28/2033 | | | 27,779 | | | | 0.0 | |
| 96,000 (2) | | | Truist Financial Corp., 5.435%, 01/24/2030 | | | 95,769 | | | | 0.1 | |
| 36,000 (2) | | | Truist Financial Corp., 5.711%, 01/24/2035 | | | 35,859 | | | | 0.0 | |
| 27,000 | | | Tyson Foods, Inc., 5.400%, 03/15/2029 | | | 27,045 | | | | 0.0 | |
| 7,000 | | | Union Pacific Corp., 3.750%, 02/05/2070 | | | 4,891 | | | | 0.0 | |
| 9,000 (3) | | | Union Pacific Corp., 4.050%, 11/15/2045 | | | 7,327 | | | | 0.0 | |
| 50,000 | | | UnitedHealth Group, Inc., 2.750%, 05/15/2040 | | | 35,949 | | | | 0.0 | |
| 25,000 | | | UnitedHealth Group, Inc., 3.050%, 05/15/2041 | | | 18,463 | | | | 0.0 | |
| 17,000 (3) | | | UnitedHealth Group, Inc., 5.000%, 04/15/2034 | | | 16,786 | | | | 0.0 | |
| 12,000 | | | UnitedHealth Group, Inc., 5.050%, 04/15/2053 | | | 11,123 | | | | 0.0 | |
| 18,000 | | | UnitedHealth Group, Inc., 5.200%, 04/15/2063 | | | 16,678 | | | | 0.0 | |
| 14,000 | | | UnitedHealth Group, Inc., 5.375%, 04/15/2054 | | | 13,610 | | | | 0.0 | |
| 14,000 | | | UnitedHealth Group, Inc., 5.500%, 04/15/2064 | | | 13,566 | | | | 0.0 | |
| 19,728 | | | US Airways Pass Through Trust 2012-1, A, 5.900%, 04/01/2026 | | | 19,715 | | | | 0.0 | |
| 38,000 (2) | | | US Bancorp, 5.384%, 01/23/2030 | | | 38,109 | | | | 0.1 | |
| 200,000 | | | Utah Acquisition Sub, Inc., 3.950%, 06/15/2026 | | | 194,003 | | | | 0.2 | |
| 16,000 | | | Verizon Communications, Inc., 1.750%, 01/20/2031 | | | 12,953 | | | | 0.0 | |
| 14,000 | | | Verizon Communications, Inc., 2.550%, 03/21/2031 | | | 11,898 | | | | 0.0 | |
| 96,000 | | | Verizon Communications, Inc., 4.125%, 08/15/2046 | | | 77,680 | | | | 0.1 | |
| 38,000 | | | Verizon Communications, Inc., 4.400%, 11/01/2034 | | | 35,229 | | | | 0.0 | |
| 16,000 | | | Verizon Communications, Inc., 5.500%, 02/23/2054 | | | 15,674 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 72,000 | | | Viatris, Inc., 2.700%, 06/22/2030 | | $ | 61,140 | | | | 0.1 | |
| 8,000 | | | Viatris, Inc., 3.850%, 06/22/2040 | | | 5,846 | | | | 0.0 | |
| 74,000 | | | VMware, Inc., 1.400%, 08/15/2026 | | | 68,155 | | | | 0.1 | |
| 48,000 | | | Walmart, Inc., 4.000%, 04/15/2030 | | | 46,628 | | | | 0.1 | |
| 71,000 | | | Warnermedia Holdings, Inc., 3.755%, 03/15/2027 | | | 67,426 | | | | 0.1 | |
| 8,000 | | | Warnermedia Holdings, Inc., 5.050%, 03/15/2042 | | | 6,511 | | | | 0.0 | |
| 12,000 | | | Warnermedia Holdings, Inc., 5.141%, 03/15/2052 | | | 9,349 | | | | 0.0 | |
| 2,000 | | | Warnermedia Holdings, Inc., 5.391%, 03/15/2062 | | | 1,562 | | | | 0.0 | |
| 20,000 | | | Waste Management, Inc., 4.625%, 02/15/2030 | | | 19,686 | | | | 0.0 | |
| 23,000 | | | Waste Management, Inc., 4.875%, 02/15/2034 | | | 22,557 | | | | 0.0 | |
| 9,000 | | | WEC Energy Group, Inc., 5.000%, 09/27/2025 | | | 8,945 | | | | 0.0 | |
| 13,000 | | | WEC Energy Group, Inc., 5.150%, 10/01/2027 | | | 12,968 | | | | 0.0 | |
| 42,000 (2) | | | Wells Fargo & Co., 2.164%, 02/11/2026 | | | 41,096 | | | | 0.1 | |
| 25,000 (2) | | | Wells Fargo & Co., 2.188%, 04/30/2026 | | | 24,281 | | | | 0.0 | |
| 312,000 | | | Wells Fargo & Co., 3.000%, 10/23/2026 | | | 296,442 | | | | 0.3 | |
| 47,000 (2) | | | Wells Fargo & Co., 3.526%, 03/24/2028 | | | 44,839 | | | | 0.1 | |
| 25,000 (2) | | | Wells Fargo & Co., 4.540%, 08/15/2026 | | | 24,697 | | | | 0.0 | |
| 38,000 (2) | | | Wells Fargo & Co., 5.389%, 04/24/2034 | | | 37,581 | | | | 0.1 | |
| 12,000 (2) | | | Wells Fargo & Co., 5.557%, 07/25/2034 | | | 11,996 | | | | 0.0 | |
| 24,000 | | | Western Midstream Operating L.P., 4.750%, 08/15/2028 | | | 23,480 | | | | 0.0 | |
| 42,000 | | | Westinghouse Air Brake Technologies Corp., 4.700%, 09/15/2028 | | | 41,188 | | | | 0.1 | |
| 8,000 | | | Westlake Corp., 3.125%, 08/15/2051 | | | 5,046 | | | | 0.0 | |
| 21,000 | | | Weyerhaeuser Co., 4.750%, 05/15/2026 | | | 20,767 | | | | 0.0 | |
| 10,000 | | | Williams Cos., Inc., 4.900%, 03/15/2029 | | | 9,867 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | |
| | | | United States: (continued) |
| 26,000 | | | Willis North America, Inc., 5.900%, 03/05/2054 | | $ | 25,221 | | | | 0.0 | |
| 15,000 | | | Wisconsin Power and Light Co., 5.375%, 03/30/2034 | | | 14,913 | | | | 0.0 | |
| 26,000 | | | Zimmer Biomet Holdings, Inc., 5.350%, 12/01/2028 | | | 26,165 | | | | 0.0 | |
| | | | | | 18,816,570 | | | | 17.7 | |
| | | | | | | | | | | | |
| | | Total Corporate Bonds/Notes
(Cost $21,761,914) | | | 21,019,961 | | | | 19.7 | |
| SOVEREIGN BONDS: 19.1% |
| | | | Australia: 0.3% |
| AUD558,000 (1) | | | Queensland Treasury Corp., 1.750%, 07/20/2034 | | | 275,453 | | | | 0.3 | |
| | | | | | | | | | | | |
| | | | Belgium: 0.7% |
| 786,000 (1)(3) | | | Kingdom of Belgium Government International Bond, 4.875%, 06/10/2055 | | | 784,979 | | | | 0.7 | |
| | | | | | | | | | | | |
| | | | Brazil: 0.4% |
| BRL650,000 | | | Brazil Notas do Tesouro Nacional Serie B NTNB, 6.000%, 08/15/2050 | | | 486,182 | | | | 0.4 | |
| | | | | | | | | | | | |
| | | | Canada: 0.8% |
| CAD575,000 | | | Canadian Government Bond 0002, 2.000%, 12/01/2051 | | | 314,570 | | | | 0.3 | |
| 571,000 | | | Province of British Columbia Canada, 4.200%, 07/06/2033 | | | 547,866 | | | | 0.5 | |
| | | | | | 862,436 | | | | 0.8 | |
| | | | | | | | | | | | |
| | | | China: 10.5% |
| CNY1,780,000 | | | China Government Bond 1824, 4.080%, 10/22/2048 | | | 318,629 | | | | 0.3 | |
| CNY29,640,000 | | | China Government Bond 1827, 3.250%, 11/22/2028 | | | 4,317,451 | | | | 4.0 | |
| CNY12,880,000 | | | China Government Bond 1906, 3.290%, 05/23/2029 | | | 1,887,023 | | | | 1.8 | |
| CNY6,880,000 | | | China Government Bond 1907, 3.250%, 06/06/2026 | | | 977,093 | | | | 0.9 | |
| CNY1,400,000 | | | China Government Bond INBK, 2.520%, 08/25/2033 | | | 197,195 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| SOVEREIGN BONDS: (continued) |
| | | | China: (continued) |
| CNY13,660,000 | | | China Government Bond INBK, 2.850%, 06/04/2027 | | $ | 1,937,039 | | | | 1.8 | |
| CNY4,500,000 | | | China Government Bond INBK, 2.880%, 02/25/2033 | | | 652,135 | | | | 0.6 | |
| CNY1,270,000 | | | China Government Bond INBK, 3.320%, 04/15/2052 | | | 204,962 | | | | 0.2 | |
| CNY4,120,000 | | | China Government Bond SH, 2.690%, 08/15/2032 | | | 587,632 | | | | 0.6 | |
| CNY550,000 | | | China Government Bond SZ, 3.190%, 04/15/2053 | | | 86,896 | | | | 0.1 | |
| | | | | | | 11,166,055 | | | | 10.5 | |
| | | | | | | | | | | | |
| | | | Czechia: 0.1% |
| CZK3,950,000 | | | Czech Republic Government Bond 105, 2.750%, 07/23/2029 | | | 158,997 | | | | 0.1 | |
| | | | | | | | | | | | |
| | | | Germany: 0.3% |
| EUR30,000 | | | Bundesrepublik Deutschland Bundesanleihe, 0.500%, 02/15/2028 | | | 29,943 | | | | 0.0 | |
| EUR200,000 | | | Bundesrepublik Deutschland Bundesanleihe, 1.250%, 08/15/2048 | | | 160,452 | | | | 0.2 | |
| EUR120,000 | | | Bundesrepublik Deutschland Bundesanleihe, 2.730%, 08/15/2026 | | | 121,425 | | | | 0.1 | |
| | | | | | | 311,820 | | | | 0.3 | |
| | | | | | | | | | | | |
| | | | Indonesia: 0.4% |
| IDR6,452,000,000 | | | Indonesia Treasury Bond FR79, 8.375%, 04/15/2039 | | | 440,312 | | | | 0.4 | |
| | | | | | | | | | | | |
| | | | Italy: 0.4% |
| EUR438,000 (1) | | | Italy Buoni Poliennali Del Tesoro 30Y, 3.850%, 09/01/2049 | | | 424,608 | | | | 0.4 | |
| | | | | | | | | | | | |
| | | | Malaysia: 1.6% |
| MYR7,864,000 | | | Malaysia Government Bond 0419, 3.828%, 07/05/2034 | | | 1,661,984 | | | | 1.6 | |
| | | | | | | | | | | | |
| | | | Mexico: 1.0% |
| MXN21,600,000 (3) | | Mexican Bonos M, 7.750%, 05/29/2031 | | | 1,054,468 | | | | 1.0 | |
| | | | | | | | | | | | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| SOVEREIGN BONDS: (continued) |
| | | | Poland: 0.2% |
| PLN650,000 | | | Republic of Poland Government Bond 0728, 7.500%, 07/25/2028 | | $ | 173,524 | | | | 0.2 | |
| | | | | | | | | | | | |
| | | | Spain: 1.5% |
| EUR870,000 (1) | | | Spain Government Bond, 1.450%, 04/30/2029 | | | 867,116 | | | | 0.8 | |
| EUR908,000 (1) | | | Spain Government Bond 30Y, 2.700%, 10/31/2048 | | | 793,281 | | | | 0.7 | |
| | | | | | | 1,660,397 | | | | 1.5 | |
| | | | | | | | | | | | |
| | | | Supranational: 0.4% |
| 400,000 (4) | | | European Bank for Reconstruction & Development, 20.000%, 03/19/2025 | | | 399,120 | | | | 0.4 | |
| | | | | | | | | | | | |
| | | | Thailand: 0.5% |
| THB17,994,000 | | | Thailand Government Bond, 2.875%, 12/17/2028 | | | 499,110 | | | | 0.5 | |
| | | | | | | | | | | | |
| | | Total Sovereign Bonds
(Cost $21,695,104) | | | 20,359,445 | | | | 19.1 | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: 13.5% |
| | | | Mexico: 0.0% |
| 23,264 (4) | | | Su Casita 2006-1U A, 6.100%, 09/25/2035 | | | 1,247 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | United States: 13.5% |
| 115,303 (2) | | | Adjustable Rate Mortgage Trust 2006-2 1A1, 4.826%, 05/25/2036 | | | 98,566 | | | | 0.1 | |
| 32,413 (2) | | | Alternative Loan Trust 2005-53T2 2A6, 5.960%, (TSFR1M + 0.614%), 11/25/2035 | | | 17,440 | | | | 0.0 | |
| 57,695 | | | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | | | 28,089 | | | | 0.0 | |
| 128,043 | | | Banc of America Funding Trust 2005-1 1A1, 5.500%, 02/25/2035 | | | 121,265 | | | | 0.1 | |
| 13,111 | | | CHL Mortgage Pass-Through Trust 2005-17 1A8, 5.500%, 09/25/2035 | | | 12,318 | | | | 0.0 | |
| 25,031 | | | CHL Mortgage Pass-Through Trust 2005-J4 A7, 5.500%, 11/25/2035 | | | 20,038 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | | United States: (continued) |
| 174,898 | | | CHL Mortgage Pass-Through Trust 2007-7 A7, 5.750%, 06/25/2037 | | $ | 83,173 | | | | 0.1 | |
| 23,903 (2) | | | Citigroup Mortgage Loan Trust, Inc. 2005-2 1A3, 6.180%, 05/25/2035 | | | 22,557 | | | | 0.0 | |
| 144,779 | | | CitiMortgage Alternative Loan Trust Series 2006-A3 1A7, 6.000%, 07/25/2036 | | | 126,223 | | | | 0.1 | |
| 347,458 (1)(2) | | | COLT Mortgage Loan Trust 2021-2 A1, 0.924%, 08/25/2066 | | | 281,492 | | | | 0.3 | |
| 206,778 (1)(2) | | | COLT Mortgage Loan Trust 2021-3 A1, 0.956%, 09/27/2066 | | | 166,032 | | | | 0.2 | |
| 19,221 (1)(2) | | | Fannie Mae Connecticut Avenue Securities 2019-R01 2M2, 7.900%, (SOFR30A + 2.564%), 07/25/2031 | | | 19,223 | | | | 0.0 | |
| 4,354 (5) | | | Fannie Mae Interest Strip 294 2, 7.000%, 02/25/2028 | | | 371 | | | | 0.0 | |
| 59,911 (5) | | | Fannie Mae Interest Strip 319 2, 6.500%, 02/25/2032 | | | 9,555 | | | | 0.0 | |
| 19,790 (5) | | | Fannie Mae Interest Strip 328 2, 6.000%, 12/25/2032 | | | 3,065 | | | | 0.0 | |
| 9,332 (5) | | | Fannie Mae Interest Strip 331 5, 6.000%, 02/25/2033 | | | 1,406 | | | | 0.0 | |
| 11,394 (5) | | | Fannie Mae Interest Strip 332 2, 6.000%, 03/25/2033 | | | 1,816 | | | | 0.0 | |
| 8,923 (5) | | | Fannie Mae Interest Strip 334 12, 6.000%, 03/25/2033 | | | 1,351 | | | | 0.0 | |
| 11,574 (5) | | | Fannie Mae Interest Strip 338 2, 5.500%, 07/25/2033 | | | 1,784 | | | | 0.0 | |
| 5,054 (5) | | | Fannie Mae Interest Strip 356 10, 5.500%, 06/25/2035 | | | 845 | | | | 0.0 | |
| 5,038 (5) | | | Fannie Mae Interest Strip 364 15, 6.000%, 09/25/2035 | | | 760 | | | | 0.0 | |
| 176,390 (5) | | | Fannie Mae Interest Strip 418 5, 3.500%, 08/25/2043 | | | 25,810 | | | | 0.0 | |
| 235,440 (2)(5) | | | Fannie Mae Interest Strip 418 80, 3.500%, 08/25/2033 | | | 21,500 | | | | 0.0 | |
| 110,580 (5) | | | Fannie Mae Interest Strip 424 C14, 4.000%, 01/25/2048 | | | 19,111 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |
| | | | United States: (continued) |
| 1,585 | | | Fannie Mae REMIC Trust 1999-14 MB, 6.500%, 04/25/2029 | | $ | 1,580 | | | | 0.0 | |
| 3,475 | | | Fannie Mae REMIC Trust 2001-80 ZB, 6.000%, 01/25/2032 | | | 3,513 | | | | 0.0 | |
| 19,930 (2)(5) | | | Fannie Mae REMIC Trust 2002-12 SB, 2.300%, (-1.000*SOFR30A + 7.636%), 07/25/2031 | | | 1,580 | | | | 0.0 | |
| 13,361 (2)(5) | | | Fannie Mae REMIC Trust 2002-2 SW, 2.300%, (-1.000*SOFR30A + 7.636%), 02/25/2032 | | | 1,145 | | | | 0.0 | |
| 5,191 | | | Fannie Mae REMIC Trust 2002-21 PE, 6.500%, 04/25/2032 | | | 5,322 | | | | 0.0 | |
| 2,218 (2) | | | Fannie Mae REMIC Trust 2002-29 F, 6.450%, (SOFR30A + 1.114%), 04/25/2032 | | | 2,243 | | | | 0.0 | |
| 5,060 (2)(5) | | | Fannie Mae REMIC Trust 2002-41 S, 2.500%, (-1.000*SOFR30A + 7.836%), 07/25/2032 | | | 286 | | | | 0.0 | |
| 683 (2) | | | Fannie Mae REMIC Trust 2002-64 FJ, 6.450%, (SOFR30A + 1.114%), 04/25/2032 | | | 688 | | | | 0.0 | |
| 1,532 (2) | | | Fannie Mae REMIC Trust 2002-68 FH, 5.948%, (SOFR30A + 0.614%), 10/18/2032 | | | 1,526 | | | | 0.0 | |
| 238,462 (2)(5) | | | Fannie Mae REMIC Trust 2002-77 JS, 2.552%, (-1.000*SOFR30A + 7.886%), 12/18/2032 | | | 21,586 | | | | 0.0 | |
| 6,334 (2) | | | Fannie Mae REMIC Trust 2002-84 FB, 6.450%, (SOFR30A + 1.114%), 12/25/2032 | | | 6,409 | | | | 0.0 | |
| 6,334 (2) | | | Fannie Mae REMIC Trust 2003-11 FA, 6.450%, (SOFR30A + 1.114%), 09/25/2032 | | | 6,408 | | | | 0.0 | |
| 1,306 (2) | | | Fannie Mae REMIC Trust 2003-116 FA, 5.850%, (SOFR30A + 0.514%), 11/25/2033 | | | 1,302 | | | | 0.0 | |
| 8,505 (5) | | | Fannie Mae REMIC Trust 2003-13 IO, 7.000%, 03/25/2033 | | | 1,454 | | | | 0.0 | |
| 8,633 (5) | | | Fannie Mae REMIC Trust 2003-26 IK, 7.000%, 04/25/2033 | | | 1,511 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 164,339 (2)(5) | | | Fannie Mae REMIC Trust 2004-56 SE, 2.100%, (-1.000*SOFR30A + 7.436%), 10/25/2033 | | $ | 15,147 | | | | 0.0 | |
| 9,805 (2) | | | Fannie Mae REMIC Trust 2005-25 PS, 4.181%, (-1.000*SOFR30A + 27.656%), 04/25/2035 | | | 11,061 | | | | 0.0 | |
| 3,050 (2)(5) | | | Fannie Mae REMIC Trust 2005-40 SB, 1.300%, (-1.000*SOFR30A + 6.636%), 05/25/2035 | | | 102 | | | | 0.0 | |
| 65 | | | Fannie Mae REMIC Trust 2005-71 DB, 4.500%, 08/25/2025 | | | 64 | | | | 0.0 | |
| 65,222 (2) | | | Fannie Mae REMIC Trust 2005-74 DK, 2.201%, (-1.000*SOFR30A + 23.542%), 07/25/2035 | | | 61,830 | | | | 0.1 | |
| 149,592 (2) | | | Fannie Mae REMIC Trust 2005-87 SB, 3.851%, (-1.000*SOFR30A + 23.414%), 10/25/2035 | | | 149,511 | | | | 0.2 | |
| 72,758 (2) | | | Fannie Mae REMIC Trust 2006-104 ES, 6.201%, (-1.000*SOFR30A + 32.878%), 11/25/2036 | | | 89,146 | | | | 0.1 | |
| 6,303 (2) | | | Fannie Mae REMIC Trust 2006-11 PS, 4.584%, (-1.000*SOFR30A + 24.147%), 03/25/2036 | | | 7,062 | | | | 0.0 | |
| 12,179 (2) | | | Fannie Mae REMIC Trust 2006-46 SW, 4.217%, (-1.000*SOFR30A + 23.779%), 06/25/2036 | | | 13,046 | | | | 0.0 | |
| 2,918,873 (2)(5) | | | Fannie Mae REMIC Trust 2006-51 SA, 1.120%, (-1.000*SOFR30A + 6.456%), 06/25/2036 | | | 207,966 | | | | 0.2 | |
| 24,615 (2)(5) | | | Fannie Mae REMIC Trust 2006-90 SX, 1.780%, (-1.000*SOFR30A + 7.116%), 09/25/2036 | | | 1,636 | | | | 0.0 | |
| 3,199,697 (2)(5) | | | Fannie Mae REMIC Trust 2007-116 DI, 0.490%, (-1.000*SOFR30A + 5.826%), 01/25/2038 | | | 222,691 | | | | 0.2 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 20,718 (2)(5) | | | Fannie Mae REMIC Trust 2007-88 XI, 1.090%, (-1.000*SOFR30A + 6.426%), 06/25/2037 | | $ | 1,752 | | | | 0.0 | |
| 175,660 (2)(5) | | | Fannie Mae REMIC Trust 2007-89 SB, 1.100%, (-1.000*SOFR30A + 6.436%), 09/25/2037 | | | 12,432 | | | | 0.0 | |
| 578,017 (2)(5) | | | Fannie Mae REMIC Trust 2007-94 SG, 1.000%, (-1.000*SOFR30A + 6.336%), 10/25/2037 | | | 48,347 | | | | 0.1 | |
| 248,774 (2) | | | Fannie Mae REMIC Trust 2010-109 SN, 0.890%, (-1.000*SOFR30A + 24.428%), 10/25/2040 | | | 225,896 | | | | 0.2 | |
| 138,929 | | | Fannie Mae REMIC Trust 2010-155 PL, 5.000%, 07/25/2040 | | | 133,584 | | | | 0.1 | |
| 1,162,172 (2)(5) | | | Fannie Mae REMIC Trust 2011-55 SK, 1.110%, (-1.000*SOFR30A + 6.446%), 06/25/2041 | | | 110,545 | | | | 0.1 | |
| 836,409 (2)(5) | | | Fannie Mae REMIC Trust 2011-86 NS, 0.500%, (-1.000*SOFR30A + 5.836%), 09/25/2041 | | | 46,882 | | | | 0.1 | |
| 222,107 (2)(5) | | | Fannie Mae REMIC Trust 2012-10 US, 1.000%, (-1.000*SOFR30A + 6.336%), 02/25/2042 | | | 22,233 | | | | 0.0 | |
| 354,200 (5) | | | Fannie Mae REMIC Trust 2012-110 JI, 4.000%, 06/25/2042 | | | 48,059 | | | | 0.1 | |
| 1,096,609 (2)(5) | | | Fannie Mae REMIC Trust 2012-133 PS, 0.750%, (-1.000*SOFR30A + 6.086%), 03/25/2042 | | | 62,288 | | | | 0.1 | |
| 1,084,900 (5) | | | Fannie Mae REMIC Trust 2012-138 DI, 3.000%, 12/25/2027 | | | 28,185 | | | | 0.0 | |
| 930,886 (2)(5) | | | Fannie Mae REMIC Trust 2012-144 SB, 0.650%, (-1.000*SOFR30A + 5.986%), 01/25/2043 | | | 88,077 | | | | 0.1 | |
| 459,672 (2)(5) | | | Fannie Mae REMIC Trust 2012-27 SB, 0.530%, (-1.000*SOFR30A + 5.866%), 11/25/2041 | | | 17,298 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 526,697 (5) | | | Fannie Mae REMIC Trust 2013-64 LI, 3.000%, 06/25/2033 | | $ | 42,434 | | | | 0.0 | |
| 7,524,011 (2)(5) | | | Fannie Mae REMIC Trust 2019-15 SA, 0.550%, (-1.000*SOFR30A + 5.886%), 04/25/2049 | | | 711,630 | | | | 0.7 | |
| 1,923,868 (5) | | | Fannie Mae REMIC Trust 2020-3 DI, 3.500%, 02/25/2050 | | | 351,305 | | | | 0.3 | |
| 13,297,353 (5) | | | Fannie Mae REMIC Trust 2021-4 IN, 2.500%, 02/25/2051 | | | 1,699,821 | | | | 1.6 | |
| 3,901 | | | Freddie Mac REMIC Trust 1897 K, 7.000%, 09/15/2026 | | | 3,892 | | | | 0.0 | |
| 1,769 (5) | | | Freddie Mac REMIC Trust 2035 PE, 7.000%, 03/15/2028 | | | 142 | | | | 0.0 | |
| 10,953 (5) | | | Freddie Mac REMIC Trust 2049 PL, 7.000%, 04/15/2028 | | | 942 | | | | 0.0 | |
| 5,519 (2) | | | Freddie Mac REMIC Trust 2122 F, 5.898%, (SOFR30A + 0.564%), 02/15/2029 | | | 5,499 | | | | 0.0 | |
| 8,064 (2)(5) | | | Freddie Mac REMIC Trust 2134 SB, 2.252%, (-1.000*SOFR30A + 7.586%), 03/15/2029 | | | 194 | | | | 0.0 | |
| 16,046 (2)(5) | | | Freddie Mac REMIC Trust 2136 SG, 2.202%, (-1.000*SOFR30A + 7.536%), 03/15/2029 | | | 672 | | | | 0.0 | |
| 16,252 (2)(5) | | | Freddie Mac REMIC Trust 2177 SB, 3.502%, (-1.000*SOFR30A + 8.836%), 08/15/2029 | | | 721 | | | | 0.0 | |
| 3,723 (2) | | | Freddie Mac REMIC Trust 2344 FP, 6.398%, (SOFR30A + 1.064%), 08/15/2031 | | | 3,766 | | | | 0.0 | |
| 1,645 (2) | | | Freddie Mac REMIC Trust 2412 GF, 6.398%, (SOFR30A + 1.064%), 02/15/2032 | | | 1,661 | | | | 0.0 | |
| 11,730 | | | Freddie Mac REMIC Trust 2415 ZA, 6.500%, 02/15/2032 | | | 12,048 | | | | 0.0 | |
| 2,078 (2) | | | Freddie Mac REMIC Trust 2464 FI, 6.448%, (SOFR30A + 1.114%), 02/15/2032 | | | 2,095 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 2,132 (2) | | | Freddie Mac REMIC Trust 2470 LF, 6.448%, (SOFR30A + 1.114%), 02/15/2032 | | $ | 2,156 | | | | 0.0 | |
| 2,888 (2) | | | Freddie Mac REMIC Trust 2471 FD, 6.448%, (SOFR30A + 1.114%), 03/15/2032 | | | 2,921 | | | | 0.0 | |
| 2,348 (2) | | | Freddie Mac REMIC Trust 2504 FP, 5.948%, (SOFR30A + 0.614%), 03/15/2032 | | | 2,336 | | | | 0.0 | |
| 8,322 (2) | | | Freddie Mac REMIC Trust 2551 LF, 5.948%, (SOFR30A + 0.614%), 01/15/2033 | | | 8,317 | | | | 0.0 | |
| 109,775 | | | Freddie Mac REMIC Trust 2750 XG, 5.000%, 02/15/2034 | | | 109,781 | | | | 0.1 | |
| 97,493 | | | Freddie Mac REMIC Trust 2890 PE, 5.000%, 11/15/2034 | | | 97,567 | | | | 0.1 | |
| 18,965 (2) | | | Freddie Mac REMIC Trust 3001 HT, 8.000%, (-1.000*SOFR30A + 43.903%), 05/15/2035 | | | 19,363 | | | | 0.0 | |
| 12,660 (2)(5) | | | Freddie Mac REMIC Trust 3004 SB, 0.702%, (-1.000*SOFR30A + 6.036%), 07/15/2035 | | | 344 | | | | 0.0 | |
| 4,575 (2) | | | Freddie Mac REMIC Trust 3025 SJ, 4.776%, (-1.000*SOFR30A + 24.330%), 08/15/2035 | | | 5,186 | | | | 0.0 | |
| 372,536 (2)(5) | | | Freddie Mac REMIC Trust 3223 S, 0.502%, (-1.000*SOFR30A + 5.836%), 10/15/2036 | | | 21,174 | | | | 0.0 | |
| 2,695,618 (2)(5) | | | Freddie Mac REMIC Trust 3502 DL, 0.552%, (-1.000*SOFR30A + 5.886%), 01/15/2039 | | | 203,704 | | | | 0.2 | |
| 785,907 (2)(5) | | | Freddie Mac REMIC Trust 3505 SA, 0.552%, (-1.000*SOFR30A + 5.886%), 01/15/2039 | | | 54,037 | | | | 0.1 | |
| 5,107,836 (2)(5) | | | Freddie Mac REMIC Trust 3582 SL, 0.702%, (-1.000*SOFR30A + 6.036%), 10/15/2039 | | | 402,127 | | | | 0.4 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 887,243 (2)(5) | | | Freddie Mac REMIC Trust 3702 S, 9.646%, (-1.000*SOFR30A + 4.336%), 05/15/2036 | | $ | 19,770 | | | | 0.0 | |
| 285,455 (2)(5) | | | Freddie Mac REMIC Trust 3925 SD, 0.602%, (-1.000*SOFR30A + 5.936%), 07/15/2040 | | | 5,037 | | | | 0.0 | |
| 336,996 (5) | | | Freddie Mac REMIC Trust 4120 IK, 3.000%, 10/15/2032 | | | 26,571 | | | | 0.0 | |
| 2,603,038 (2)(5) | | | Freddie Mac REMIC Trust 4136 LS, 0.702%, (-1.000*SOFR30A + 6.036%), 11/15/2042 | | | 235,999 | | | | 0.2 | |
| 327,832 (2)(5) | | | Freddie Mac REMIC Trust 4136 SW, 0.802%, (-1.000*SOFR30A + 6.136%), 11/15/2032 | | | 14,019 | | | | 0.0 | |
| 230,271 (5) | | | Freddie Mac REMIC Trust 4161 CI, 4.000%, 02/15/2043 | | | 32,147 | | | | 0.0 | |
| 3,469,350 (5) | | | Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043 | | | 548,428 | | | | 0.5 | |
| 704,656 (5) | | | Freddie Mac REMIC Trust 4624 BI, 5.500%, 04/15/2036 | | | 130,482 | | | | 0.1 | |
| 500,000 (1)(2) | | | Freddie Mac STACR REMIC Trust 2022-DNA1 M1B, 7.185%, (SOFR30A + 1.850%), 01/25/2042 | | | 506,211 | | | | 0.5 | |
| 300,000 (1)(2) | | | Freddie Mac STACR REMIC Trust 2022-DNA2 M1B, 7.735%, (SOFR30A + 2.400%), 02/25/2042 | | | 307,813 | | | | 0.3 | |
| 500,000 (1)(2) | | | Freddie Mac STACR REMIC Trust 2022-DNA2 M2, 9.085%, (SOFR30A + 3.750%), 02/25/2042 | | | 525,784 | | | | 0.5 | |
| 600,000 (1)(2) | | | Freddie Mac STACR REMIC Trust 2022-HQA1 M2, 10.585%, (SOFR30A + 5.250%), 03/25/2042 | | | 650,431 | | | | 0.6 | |
| 131,343 (2) | | | Ginnie Mae 2007-8 SP, 4.367%, (-1.000*TSFR1M + 21.677%), 03/20/2037 | | | 146,960 | | | | 0.1 | |
| 650,224 (2)(5) | | | Ginnie Mae 2010-68 MS, 0.397%, (-1.000*TSFR1M + 5.736%), 06/20/2040 | | | 47,857 | | | | 0.1 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 384,238 (2)(5) | | | Ginnie Mae 2012-97 SC, 1.257%, (-1.000*TSFR1M + 6.586%), 07/16/2041 | | $ | 19,256 | | | | 0.0 | |
| 6,066,514 (2)(5) | | | Ginnie Mae 2014-133 BS, 0.147%, (-1.000*TSFR1M + 5.486%), 09/20/2044 | | | 402,088 | | | | 0.4 | |
| 79,864 (2) | | | GreenPoint Mortgage Funding Trust 2006-AR3 4A1, 5.880%, (TSFR1M + 0.534%), 04/25/2036 | | | 67,768 | | | | 0.1 | |
| 9,287 (1)(2) | | | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | | | 8,519 | | | | 0.0 | |
| 7,505 (1)(2) | | | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 A1, 3.500%, 03/25/2050 | | | 6,789 | | | | 0.0 | |
| 450,214 (1)(2) | | | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B1A, 3.423%, 10/25/2050 | | | 382,484 | | | | 0.4 | |
| 174,537 (1)(2) | | | GS Mortgage-Backed Securities Trust 2022-PJ1 A4, 2.500%, 05/28/2052 | | | 136,963 | | | | 0.1 | |
| 359,179 (1)(2) | | | GS Mortgage-Backed Securities Trust 2022-PJ6 A24, 3.000%, 01/25/2053 | | | 294,029 | | | | 0.3 | |
| 514,099 (1)(2) | | | GS Mortgage-Backed Securities Trust 2023-PJ2 A16, 5.500%, 05/25/2053 | | | 505,635 | | | | 0.5 | |
| 3,442 (2) | | | GSR Mortgage Loan Trust 2005-AR6 1A4, 6.455%, 09/25/2035 | | | 3,395 | | | | 0.0 | |
| 314,358 (2) | | | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 5.880%, (TSFR1M + 0.534%), 04/25/2046 | | | 257,175 | | | | 0.3 | |
| 351,073 (1)(2) | | | J.P. Morgan Mortgage Trust 2022-6 A3, 3.000%, 11/25/2052 | | | 291,336 | | | | 0.3 | |
| 805,751 (1)(2) | | | J.P. Morgan Mortgage Trust 2023-2 A3A, 5.000%, 07/25/2053 | | | 771,967 | | | | 0.7 | |
| 300,817 (2) | | | JP Morgan Mortgage Trust 2005-A4 B1, 5.992%, 07/25/2035 | | | 274,048 | | | | 0.3 | |
| 23,139 (2) | | | JP Morgan Mortgage Trust 2007-A1 7A1, 5.601%, 07/25/2035 | | | 21,755 | | | | 0.0 | |
| 226,907 (1)(2) | | | JP Morgan Mortgage Trust 2017-3 B1, 3.766%, 08/25/2047 | | | 206,080 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | United States: (continued) | | | | | | | | |
| 154,156 (1)(2) | | | JP Morgan Mortgage Trust 2019-8 A5, 3.500%, 03/25/2050 | | $ | 134,768 | | | | 0.1 | |
| 33,226 (1)(2) | | | JP Morgan Mortgage Trust 2019-INV3 A15, 3.500%, 05/25/2050 | | | 29,459 | | | | 0.0 | |
| 4,943 (1)(2) | | | JP Morgan Mortgage Trust 2019-LTV3 A15, 3.500%, 03/25/2050 | | | 4,766 | | | | 0.0 | |
| 109,797 (2) | | | Lehman XS Trust Series 2005-5N 1A2, 5.820%, (TSFR1M + 0.474%), 11/25/2035 | | | 105,214 | | | | 0.1 | |
| 28,644 (2) | | | MASTR Adjustable Rate Mortgages Trust 2006-2 1A1, 6.649%, 04/25/2036 | | | 26,859 | | | | 0.0 | |
| 200,000 (1)(2) | | | Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059 | | | 187,287 | | | | 0.2 | |
| 141,691 (1)(2) | | | Morgan Stanley Residential Mortgage Loan Trust 2021-2 A9, 2.500%, 05/25/2051 | | | 111,450 | | | | 0.1 | |
| 1,109,976 (2)(5) | | | RALI Series Trust 2006-QO1 X2, 2.299%, 02/25/2046 | | | 52,882 | | | | 0.1 | |
| 4,293 (1)(2) | | | Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 03/25/2048 | | | 3,921 | | | | 0.0 | |
| 2,731,511 (2)(5) | | | WaMu Mortgage Pass-Through Certificates 2005-AR11 X, 1.410%, 08/25/2045 | | | 2,720 | | | | 0.0 | |
| 19,688 (2) | | | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.478%, 10/25/2036 | | | 17,351 | | | | 0.0 | |
| 68,251 (2) | | | WaMu Mortgage Pass-Through Certificates 2006-AR8 1A4, 4.394%, 08/25/2046 | | | 58,815 | | | | 0.1 | |
| 148,045 (2) | | | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.209%, 12/25/2036 | | | 128,161 | | | | 0.1 | |
| 33,577 (2) | | | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 5.890%, (TSFR1M + 0.544%), 06/25/2037 | | | 27,228 | | | | 0.0 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) |
| | | | United States: (continued) |
| 89,127 (1)(2) | | | WinWater Mortgage Loan Trust 2015-5 B4, 3.754%, 08/20/2045 | | $ | 79,619 | | | | 0.1 | |
| | | | | | 14,348,314 | | | | 13.5 | |
| | | | | | | | | | | | |
| | | Total Collateralized Mortgage Obligations
(Cost $18,066,104) | | | 14,349,561 | | | | 13.5 | |
| MUTUAL FUNDS: 12.2% |
| | | | United States: 12.2% |
| 475,714 | | | Voya VACS Series EMCD Fund | | | 4,076,865 | | | | 3.8 | |
| 339,126 | | | Voya VACS Series EMHCD Fund | | | 3,530,302 | | | | 3.3 | |
| 534,277 | | | Voya VACS Series HYB Fund | | | 5,438,939 | | | | 5.1 | |
| | | | | | 13,046,106 | | | | 12.2 | |
| | | | | | | | | | | | |
| | | Total Mutual Funds
(Cost $13,389,702) | | | 13,046,106 | | | | 12.2 | |
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.1% |
| | | | United States: 10.1% |
| 250,000 (1) | | | ARZ Trust 2024-BILT C, 6.361%, 06/11/2029 | | | 251,708 | | | | 0.2 | |
| 5,480,155 (2)(5) | | | BANK 2017-BNK5 XA, 1.073%, 06/15/2060 | | | 120,243 | | | | 0.1 | |
| 1,948,000 (1)(2)(5) | | | BANK 2017-BNK6 XE, 1.500%, 07/15/2060 | | | 72,468 | | | | 0.1 | |
| 923,827 (2)(5) | | | BANK 2019-BN16 XA, 1.096%, 02/15/2052 | | | 31,544 | | | | 0.0 | |
| 8,813,039 (2)(5) | | | BANK 2019-BN21 XA, 0.956%, 10/17/2052 | | | 301,622 | | | | 0.3 | |
| 8,020,000 (1)(2)(5) | | | BBCCRE Trust 2015-GTP XA, 0.749%, 08/10/2033 | | | 43,097 | | | | 0.0 | |
| 210,000 (1) | | | Benchmark Mortgage Trust 2019-B9 D, 3.000%, 03/15/2052 | | | 131,602 | | | | 0.1 | |
| 1,132,591 (2)(5) | | | Benchmark Mortgage Trust 2019-B9 XA, 1.181%, 03/15/2052 | | | 40,430 | | | | 0.0 | |
| 2,873,200 (2)(5) | | | Benchmark Mortgage Trust 2020-B18 XA, 1.908%, 07/15/2053 | | | 170,020 | | | | 0.2 | |
| 350,000 (1)(2) | | | BLP Commercial Mortgage Trust 2024-IND2 B, 7.020%, (TSFR1M + 1.692%), 03/15/2041 | | | 347,605 | | | | 0.3 | |
| 191,565 (1)(2) | | | BX 2021-MFM1 D, 6.943%, (TSFR1M + 1.614%), 01/15/2034 | | | 188,755 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) |
| | | United States: (continued) | | | | | | | | |
| 315,000 (1)(2) | | | BX Commercial Mortgage Trust 2021-21M E, 7.614%, (TSFR1M + 2.285%), 10/15/2036 | | $ | 309,033 | | | | 0.3 | |
| 625,000 (1)(2) | | | BX Trust 2021-ARIA C, 7.089%, (TSFR1M + 1.760%), 10/15/2036 | | | 614,880 | | | | 0.6 | |
| 450,000 (1)(2) | | | BX Trust 2021-LBA EJV, 7.443%, (TSFR1M + 2.114%), 02/15/2036 | | | 438,198 | | | | 0.4 | |
| 275,000 (1)(2) | | | BX Trust 2021-LGCY D, 6.745%, (TSFR1M + 1.416%), 10/15/2036 | | | 267,669 | | | | 0.2 | |
| 503,608 (1)(2) | | | BX Trust 2021-SDMF D, 6.830%, (TSFR1M + 1.501%), 09/15/2034 | | | 489,987 | | | | 0.5 | |
| 1,466,192 (2)(5) | | | CD Mortgage Trust 2016-CD1 XA, 1.478%, 08/10/2049 | | | 25,995 | | | | 0.0 | |
| 625,000 (2) | | | Citigroup Commercial Mortgage Trust 2016-P4 C, 4.095%, 07/10/2049 | | | 525,916 | | | | 0.5 | |
| 200,000 (2) | | | Citigroup Commercial Mortgage Trust 2016-P5 B, 3.698%, 10/10/2049 | | | 175,234 | | | | 0.2 | |
| 2,456,201 (2)(5) | | | Citigroup Commercial Mortgage Trust 2017-C4 XA, 1.126%, 10/12/2050 | | | 61,421 | | | | 0.1 | |
| 3,520,812 (2)(5) | | | COMM Mortgage Trust 2016-CR28 XA, 0.779%, 02/10/2049 | | | 25,855 | | | | 0.0 | |
| 6,143,643 (1)(2)(5) | | | Commercial Mortgage Pass Through Certificates 2012-LTRT XA, 0.928%, 10/05/2030 | | | 12,981 | | | | 0.0 | |
| 500,000 | | | CSAIL Commercial Mortgage Trust 2021-C20 A3, 2.805%, 03/15/2054 | | | 429,335 | | | | 0.4 | |
| 4,042,914 (2)(5) | | | Freddie Mac Multifamily Structured Pass Through Certificates K122 X1, 0.967%, 11/25/2030 | | | 175,992 | | | | 0.2 | |
| 2,051,762 (2)(5) | | | Freddie Mac Multifamily Structured Pass Through Certificates K-1517 X1, 1.436%, 07/25/2035 | | | 203,773 | | | | 0.2 | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) |
| | | | United States: (continued) |
| 2,109,000 (5) | | | Freddie Mac Multifamily Structured Pass Through Certificates KL06 XFX, 1.467%, 12/25/2029 | | $ | 108,049 | | | | 0.1 | |
| 238,000 (1) | | | GAM RE-REMIC Trust 2022-FRR3 BK71, 2.000%, 11/27/2050 | | | 195,301 | | | | 0.2 | |
| 92,000 (1)(6) | | | GAM RE-REMIC Trust 2022-FRR3 C728, 0.000%, 08/27/2050 | | | 90,053 | | | | 0.1 | |
| 95,000 (1)(6) | | | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | | | 87,537 | | | | 0.1 | |
| 92,000 (1)(6) | | | GAM RE-REMIC Trust 2022-FRR3 D728, 0.000%, 08/27/2050 | | | 89,436 | | | | 0.1 | |
| 75,000 (1)(6) | | | GAM RE-REMIC Trust 2022-FRR3 DK41, 0.000%, 10/27/2047 | | | 72,497 | | | | 0.1 | |
| 95,000 (1)(6) | | | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | | | 86,403 | | | | 0.1 | |
| 171,000 (1) | | | GAM RE-REMIC TRUST 2021-FRR2 BK78, 2.393%, 09/27/2051 | | | 135,008 | | | | 0.1 | |
| 130,000 (1)(6) | | | GAM RE-REMIC TRUST 2021-FRR2 C730, 0.000%, 09/27/2051 | | | 123,795 | | | | 0.1 | |
| 159,000 (1)(6) | | | GAM RE-REMIC TRUST 2021-FRR2 CK44, 0.000%, 09/27/2051 | | | 150,358 | | | | 0.1 | |
| 129,000 (1) | | | GAM RE-REMIC TRUST 2021-FRR2 CK49, 1.007%, 09/27/2051 | | | 118,291 | | | | 0.1 | |
| 109,000 (1)(6) | | | GAM RE-REMIC TRUST 2021-FRR2 CK78, 0.000%, 09/27/2051 | | | 72,876 | | | | 0.1 | |
| 130,000 (1)(6) | | | GAM RE-REMIC TRUST 2021-FRR2 D730, 0.000%, 09/27/2051 | | | 123,105 | | | | 0.1 | |
| 129,000 (1)(6) | | | GAM RE-REMIC TRUST 2021-FRR2 DK49, 0.000%, 09/27/2051 | | | 114,435 | | | | 0.1 | |
| 2,201,132 (2)(5) | | | GS Mortgage Securities Trust 2017-GS6 XA, 1.154%, 05/10/2050 | | | 49,668 | | | | 0.0 | |
| 4,778,014 (2)(5) | | | GS Mortgage Securities Trust 2019-GC42 XA, 0.933%, 09/10/2052 | | | 166,547 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) |
| | | | United States: (continued) |
| 858,185 (2)(5) | | | GS Mortgage Securities Trust 2020-GC47 XA, 1.241%, 05/12/2053 | | $ | 42,468 | | | | 0.0 | |
| 500,000 (1)(2) | | | GWT 2024-WLF2 A, 7.020%, (TSFR1M + 1.691%), 05/15/2041 | | | 500,580 | | | | 0.5 | |
| 275,000 (1)(2) | | | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH E, 7.533%, (TSFR1M + 1.954%), 06/15/2038 | | | 239,828 | | | | 0.2 | |
| 600,000 (1)(2) | | | KSL Commercial Mortgage Trust 2023-HT A, 7.619%, (TSFR1M + 2.290%), 12/15/2036 | | | 602,770 | | | | 0.6 | |
| 2,107,486 (1)(2)(5) | | | LSTAR Commercial Mortgage Trust 2017-5 X, 0.986%, 03/10/2050 | | | 34,078 | | | | 0.0 | |
| 597,134 (1)(2) | | | Med Trust 2021-MDLN D, 7.443%, (TSFR1M + 2.114%), 11/15/2038 | | | 597,451 | | | | 0.6 | |
| 18,750,000 (1)(2)(5) | | | Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 2014-C19 XB, 0.525%, 12/15/2047 | | | 48,998 | | | | 0.0 | |
| 1,695,881 (5) | | | Morgan Stanley Capital I Trust 2021-L5 XA, 1.410%, 05/15/2054 | | | 99,200 | | | | 0.1 | |
| 90,000 (1) | | | RFM Reremic Trust 2022-FRR1 AB55, 0.990%, 03/28/2049 | | | 78,281 | | | | 0.1 | |
| 80,000 (1)(2) | | | RFM Reremic Trust 2022-FRR1 AB60, 2.390%, 11/08/2049 | | | 69,858 | | | | 0.1 | |
| 110,000 (1)(2) | | | RFM Reremic Trust 2022-FRR1 AB64, 2.250%, 03/01/2050 | | | 95,323 | | | | 0.1 | |
| 30,000 (1)(6) | | | RFM Reremic Trust 2022-FRR1 CK55, 0.000%, 03/28/2049 | | | 25,556 | | | | 0.0 | |
| 30,000 (1)(6) | | | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | | | 23,808 | | | | 0.0 | |
| 750,000 (1)(2) | | | SMRT 2022-MINI B, 6.679%, (TSFR1M + 1.350%), 01/15/2039 | | | 739,608 | | | | 0.7 | |
| 5,808,718 (2)(5) | | | UBS Commercial Mortgage Trust 2018-C9 XA, 1.077%, 03/15/2051 | | | 161,472 | | | | 0.1 | |
| | | | | | | | | | | | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | |
| | | | United States: (continued) |
| 200,000 | | | Wells Fargo Commercial Mortgage Trust 2014-LC18 B, 3.959%, 12/15/2047 | | $ | 196,617 | | | | 0.2 | |
| | | | | | | 10,794,618 | | | | 10.1 | |
| | | | | | | | | | | | |
| | | Total Commercial Mortgage-Backed Securities
(Cost $11,042,441) | | | 10,794,618 | | | | 10.1 | |
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0% |
| | | | Federal Home Loan Mortgage Corporation: 0.4%(7) |
| 277,201 (7) | | | 3.500%, 01/01/2048 | | | 250,986 | | | | 0.2 | |
| 25,835 (7) | | | 4.000%, 09/01/2045 | | | 24,175 | | | | 0.0 | |
| 26,489 (7) | | | 4.000%, 09/01/2045 | | | 24,703 | | | | 0.0 | |
| 41,075 (7) | | | 4.000%, 09/01/2045 | | | 38,522 | | | | 0.0 | |
| 51,266 (7) | | | 4.000%, 09/01/2045 | | | 48,080 | | | | 0.1 | |
| 42,471 (7) | | | 4.000%, 05/01/2046 | | | 39,832 | | | | 0.1 | |
| 1,927 (7) | | | 5.000%, 12/01/2034 | | | 1,904 | | | | 0.0 | |
| 6,322 (7) | | | 6.000%, 02/01/2034 | | | 6,449 | | | | 0.0 | |
| 960 (7) | | | 6.500%, 08/01/2032 | | | 991 | | | | 0.0 | |
| 1,832 (7) | | | 6.500%, 07/01/2034 | | | 1,886 | | | | 0.0 | |
| 4,747 (7) | | | 6.500%, 07/01/2034 | | | 4,888 | | | | 0.0 | |
| | | | | | | 442,416 | | | | 0.4 | |
| | | | Federal National Mortgage Association: 0.0%(7) |
| 31,252 (2)(7) | | | 6.318%, (US0012M + 1.779%), 10/01/2036 | | | 32,171 | | | | 0.0 | |
| | | | | | | | | | | | |
| | | | Government National Mortgage Association: 2.8% |
| 1,656,588 | | | 2.500%, 05/20/2051 | | | 1,393,221 | | | | 1.3 | |
| 1,767,000 (8) | | | 3.000%, 07/15/2054 | | | 1,539,775 | | | | 1.5 | |
| 12,675 | | | 5.000%, 04/15/2034 | | | 12,656 | | | | 0.0 | |
| 4,940 | | | 6.500%, 02/20/2035 | | | 5,016 | | | | 0.0 | |
| | | | | | | 2,950,668 | | | | 2.8 | |
| | | | Uniform Mortgage-Backed Securities: 6.8% |
| 1,725,848 | | | 2.000%, 02/01/2052 | | | 1,358,196 | | | | 1.3 | |
| 15,418 | | | 2.500%, 06/01/2030 | | | 14,533 | | | | 0.0 | |
| 20,041 | | | 2.500%, 06/01/2030 | | | 18,868 | | | | 0.0 | |
| 8,365 | | | 2.500%, 07/01/2030 | | | 7,871 | | | | 0.0 | |
| 1,873,000 (8) | | | 2.500%, 07/15/2054 | | | 1,529,641 | | | | 1.4 | |
| 591,000 (8) | | | 3.000%, 07/01/2054 | | | 502,812 | | | | 0.5 | |
| 468,000 (8) | | | 3.500%, 07/01/2054 | | | 414,253 | | | | 0.4 | |
| 26,477 | | | 4.000%, 05/01/2045 | | | 24,808 | | | | 0.0 | |
| 510,013 | | | 4.000%, 04/01/2049 | | | 473,587 | | | | 0.5 | |
| 1,112,000 (8) | | | 4.500%, 07/01/2054 | | | 1,048,451 | | | | 1.0 | |
| 1,437,681 | | | 5.000%, 10/01/2052 | | | 1,392,505 | | | | 1.3 | |
| 363,000 (8) | | | 5.000%, 07/01/2054 | | | 350,862 | | | | 0.3 | |
| 95 | | | 5.500%, 09/01/2024 | | | 94 | | | | 0.0 | |
| 24,782 | | | 6.000%, 11/01/2034 | | | 25,290 | | | | 0.0 | |
| 42,388 | | | 6.000%, 04/01/2035 | | | 43,258 | | | | 0.1 | |
| 13,041 | | | 6.500%, 12/01/2029 | | | 13,279 | | | | 0.0 | |
| 6,310 | | | 6.500%, 01/01/2034 | | | 6,426 | | | | 0.0 | |
| 39 | | | 7.000%, 04/01/2033 | | | 40 | | | | 0.0 | |
| 6,179 | | | 7.500%, 09/01/2032 | | | 6,349 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) |
| | | Uniform Mortgage-Backed Securities: (continued) | | |
| 10,944 | | | 7.500%, 01/01/2033 | | $ | 11,156 | | | | 0.0 | |
| | | | | | | 7,242,279 | | | | 6.8 | |
| | | | | | | | | | | | |
| | | Total U.S. Government Agency Obligations
(Cost $11,129,185) | | | 10,667,534 | | | | 10.0 | |
| ASSET-BACKED SECURITIES: 9.1% | | | | | | | |
| | | Cayman Islands: 9.0% | | | | | | | | |
| 700,000 (1)(2) | | | AGL CLO 11 Ltd. 2021-11A AJ, 6.940%, (TSFR3M + 1.612%), 04/15/2034 | | | 700,835 | | | | 0.6 | |
| 500,000 (1)(2) | | | Barings Clo Ltd. 2019-4A CR, 7.525%, (TSFR3M + 2.200%), 07/15/2037 | | | 500,479 | | | | 0.5 | |
| 412,500 (1)(2) | | | BlueMountain CLO Ltd. 2013-2A CR, 7.536%, (TSFR3M + 2.212%), 10/22/2030 | | | 413,083 | | | | 0.4 | |
| 250,000 (1)(2) | | | BlueMountain CLO XXVIII Ltd. 2021-28A C, 7.590%, (TSFR3M + 2.262%), 04/15/2034 | | | 248,324 | | | | 0.2 | |
| 250,000 (1)(2) | | | BlueMountain CLO XXXI Ltd. 2021-31A A2, 6.988%, (TSFR3M + 1.662%), 04/19/2034 | | | 250,387 | | | | 0.2 | |
| 500,000 (1)(2) | | | Carlyle Global Market Strategies CLO Ltd. 2016-1A A1R2, 6.726%, (TSFR3M + 1.402%), 04/20/2034 | | | 500,541 | | | | 0.5 | |
| 250,000 (1)(2) | | | Cedar Funding VIII Clo Ltd. 2017-8A A2R, 7.029%, (TSFR3M + 1.712%), 10/17/2034 | | | 250,339 | | | | 0.2 | |
| 400,000 (1)(2) | | | CIFC Funding Ltd. 2013-1A BR, 7.989%, (TSFR3M + 2.662%), 07/16/2030 | | | 400,601 | | | | 0.4 | |
| 500,000 (1)(2) | | | CIFC Funding Ltd. 2020-2A AR, 6.756%, (TSFR3M + 1.432%), 10/20/2034 | | | 500,682 | | | | 0.5 | |
| 500,000 (1)(2) | | | Galaxy XV CLO Ltd. 2013-15A CRR, 7.440%, (TSFR3M + 2.112%), 10/15/2030 | | | 500,723 | | | | 0.5 | |
| 400,000 (1)(2) | | | Galaxy XXI CLO Ltd. 2015-21A CR, 7.336%, (TSFR3M + 2.012%), 04/20/2031 | | | 400,426 | | | | 0.4 | |
| 250,000 (1)(2) | | | Madison Park Funding XXVII Ltd. 2018-27A B, 7.386%, (TSFR3M + 2.062%), 04/20/2030 | | | 250,282 | | | | 0.2 | |
| | | | | | | | | | | | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| ASSET-BACKED SECURITIES: (continued) |
| | | | Cayman Islands: (continued) |
| 400,000 (1)(2) | | | Madison Park Funding XXXI Ltd. 2018-31A CR, 7.589%, (TSFR3M + 2.250%), 07/23/2037 | | $ | 401,000 | | | | 0.4 | |
| 500,000 (1)(2) | | | Oaktree CLO Ltd. 2019-4A CRR, 7.603%, (TSFR3M + 2.270%), 07/20/2037 | | | 500,805 | | | | 0.5 | |
| 500,000 (1)(2) | | | OCP CLO Ltd. 2014-5A BR, 7.386%, (TSFR3M + 2.062%), 04/26/2031 | | | 499,495 | | | | 0.5 | |
| 350,000 (1)(2) | | | Octagon Investment Partners 32 Ltd. 2017-1A A2R, 6.790%, (TSFR3M + 1.462%), 07/15/2029 | | | 350,178 | | | | 0.3 | |
| 550,000 (1)(2) | | | Octagon Investment Partners 43 Ltd. 2019-1A CR, 7.774%, (TSFR3M + 2.450%), 10/25/2032 | | | 553,978 | | | | 0.5 | |
| 250,000 (1)(2) | | | OHA Credit Funding 8 Ltd. 2021-8A C, 7.489%, (TSFR3M + 2.162%), 01/18/2034 | | | 250,212 | | | | 0.2 | |
| 500,000 (1)(2) | | | Palmer Square CLO Ltd. 2023-1A C, 8.575%, (TSFR3M + 3.250%), 01/20/2036 | | | 507,390 | | | | 0.5 | |
| 440,000 (1)(2) | | | Shackleton CLO Ltd. 2019-15A CR, 7.740%, (TSFR3M + 2.412%), 01/15/2032 | | | 440,582 | | | | 0.4 | |
| 500,000 (1)(2) | | | Sound Point CLO IX Ltd. 2015-2A ARRR, 6.796%, (TSFR3M + 1.472%), 07/20/2032 | | | 501,200 | | | | 0.5 | |
| 400,000 (1)(2) | | | Sound Point Clo XV Ltd. 2017-1A CR, 7.638%, (TSFR3M + 2.312%), 01/23/2029 | | | 401,630 | | | | 0.4 | |
| 250,000 (1)(2) | | | THL Credit Wind River CLO Ltd. 2013-2A CR, 7.589%, (TSFR3M + 2.262%), 10/18/2030 | | | 250,232 | | | | 0.2 | |
| | | | | | 9,573,404 | | | | 9.0 | |
| | | | | | | | | | | | |
| | | | United States: 0.1% |
| 200,781 (2) | | | Citigroup Mortgage Loan Trust 2006-WF1 A2E, 4.557%, 03/25/2036 | | | 94,262 | | | | 0.1 | |
| | | Total Asset-Backed Securities
(Cost $9,660,439) | | | 9,667,666 | | | | 9.1 | |
| | | | | | | | | | | | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| U.S. TREASURY OBLIGATIONS: 4.8% |
| | | | United States Treasury Bonds: 2.5% |
| 25,200 | | | 3.250%, 05/15/2042 | | $ | 20,963 | | | | 0.0 | |
| 625,200 | | | 4.250%, 02/15/2054 | | | 595,454 | | | | 0.6 | |
| 572,800 | | | 4.375%, 08/15/2043 | | | 553,065 | | | | 0.5 | |
| 1,424,100 (3) | | | 4.625%, 05/15/2044 | | | 1,421,653 | | | | 1.4 | |
| | | | | | | 2,591,135 | | | | 2.5 | |
| | | | United States Treasury Notes: 2.3% |
| 64,400 | | | 2.750%, 08/15/2032 | | | 57,317 | | | | 0.1 | |
| 2,152,700 | | | 4.375%, 05/15/2034 | | | 2,153,541 | | | | 2.0 | |
| 34,400 (3) | | | 4.500%, 05/31/2029 | | | 34,639 | | | | 0.0 | |
| 180,000 | | | 4.625%, 06/15/2027 | | | 180,527 | | | | 0.2 | |
| 40,000 (3) | | | 4.875%, 05/31/2026 | | | 40,085 | | | | 0.0 | |
| | | | | | 2,466,109 | | | | 2.3 | |
| | | | | | | | | | | | |
| | | Total U.S. Treasury Obligations
(Cost $5,028,785) | | | 5,057,244 | | | | 4.8 | |
| RIGHTS: 0.0% |
| | | | United States: 0.0% |
| 4,988 (4)(9) | | | Resolute Forest Products, Inc. - CVR | | | 7,083 | | | | 0.0 | |
| | | Total Rights
(Cost $–) | | | 7,083 | | | | 0.0 | |
| COMMON STOCK: 0.0% |
| | | | United States: 0.0% |
| 2,149 (3)(4) | | | American Media | | | — | | | | — | |
| 18 (10) | | | Ingevity Corp. | | | 787 | | | | 0.0 | |
| 120 | | | Westrock Co. | | | 6,031 | | | | 0.0 | |
| | | | | | | 6,818 | | | | 0.0 | |
| | | Total Common Stock
(Cost $69,392) | | | 6,818 | | | | 0.0 | |
| PURCHASED OPTIONS(11): 0.2% |
| | | Total Purchased Options
(Cost $172,068) | | | 173,576 | | | | 0.2 | |
| | | Total Long-Term Investments
(Cost $112,015,134) | | | 105,149,612 | | | | 98.7 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| SHORT-TERM INVESTMENTS: 7.3% |
| | | | Commercial Paper: 2.9% |
| 1,000,000 | | | Concord Minutemen Capital Co. LLC, 10.900%, 07/02/2024 | | | 999,405 | | | | 0.9 | |
| 2,100,000 | | | Enterprise, 16.460%, 07/01/2024 | | | 2,099,051 | | | | 2.0 | |
| | | Total Commercial Paper
(Cost $3,099,851) | | | 3,098,456 | | | | 2.9 | |
| | | | | | | | | | | | |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) |
| | | Repurchase Agreements: 4.1% | | | | | | | | |
| 1,056,054 (12) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $1,056,527, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $1,077,175, due 10/01/27-01/01/57) | | $ | 1,056,054 | | | | 1.0 | |
| 194,423 (12) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $194,510, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $198,311, due 08/08/24-04/20/74) | | | 194,423 | | | | 0.1 | |
| 1,056,054 (12) | | | CF Secured LLC, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,056,525, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.500%, Market Value plus accrued interest $1,077,175, due 04/30/27-04/20/72) | | | 1,056,054 | | | | 1.0 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) |
| | | | Repurchase Agreements (continued) |
| 1,056,054 (12) | | | Marex Capital Markets Inc., Repurchase Agreement dated 06/28/2024, 5.440%, due 07/01/2024 (Repurchase Amount $1,056,526, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.125%-7.000%, Market Value plus accrued interest $1,077,175, due 01/15/25-11/01/53) | | $ | 1,056,054 | | | | 1.0 | |
| 1,056,054 (12) | | | National Bank Financial, Inc., Repurchase Agreement dated 06/28/2024, 5.340%, due 07/01/2024 (Repurchase Amount $1,056,518, collateralized by various U.S. Government Securities, 0.750%-4.375%, Market Value plus accrued interest $1,077,179, due 07/01/24-09/09/49) | | | 1,056,054 | | | | 1.0 | |
| | | Total Repurchase Agreements
(Cost $4,418,639) | | | 4,418,639 | | | | 4.1 | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) |
| | | | Mutual Funds: 0.3% |
| 299,000 (13) | | | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 5.220%
(Cost $299,000) | | $ | 299,000 | | | | 0.3 | |
| | | Total Short-Term Investments
(Cost $7,817,490) | | | 7,816,095 | | | | 7.3 | |
| | | Total Investments in Securities
(Cost $119,832,624) | | $ | 112,965,707 | | | | 106.0 | |
| | | Liabilities in Excess of Other Assets | | | (6,351,440) | | | | (6.0) | |
| | | Net Assets | | $ | 106,614,267 | | | | 100.0 | |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | 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. |
| (2) | Variable rate security. Rate shown is the rate in effect as of June 30, 2024. |
| (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) | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
| (6) | Principal only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments of interest on the pool are passed through the principal only security. |
| (7) | The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. |
| (8) | Represents or includes a TBA transaction. |
| (9) | Restricted security as to resale, excluding Rule 144A securities. As of June 30, 2024, the Portfolio held restricted securities with a fair value of $7,083 or —% of net assets. Please refer to the table below for additional details. |
| (10) | Non-income producing security. |
| (11) | The tables within the Portfolio of Investments detail open purchased options which are non-income producing securities. |
| (12) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (13) | Rate shown is the 7-day yield as of June 30, 2024. |
Currency Abbreviations:
Reference Rate Abbreviations:
| SOFR30A | 30-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| United States | | $ | 6,818 | | | $ | — | | | $ | — | | | $ | 6,818 | |
| Total Common Stock | | | 6,818 | | | | — | | | | — | | | | 6,818 | |
| Corporate Bonds/Notes | | | — | | | | 21,019,961 | | | | — | | | | 21,019,961 | |
| Sovereign Bonds | | | — | | | | 19,960,325 | | | | 399,120 | | | | 20,359,445 | |
| Collateralized Mortgage Obligations | | | — | | | | 14,348,314 | | | | 1,247 | | | | 14,349,561 | |
| Mutual Funds | | | 13,046,106 | | | | — | | | | — | | | | 13,046,106 | |
| Commercial Mortgage-Backed Securities | | | — | | | | 10,794,618 | | | | — | | | | 10,794,618 | |
| U.S. Government Agency Obligations | | | — | | | | 10,667,534 | | | | — | | | | 10,667,534 | |
| Asset-Backed Securities | | | — | | | | 9,667,666 | | | | — | | | | 9,667,666 | |
| U.S. Treasury Obligations | | | — | | | | 5,057,244 | | | | — | | | | 5,057,244 | |
| Purchased Options | | | 4,177 | | | | 169,399 | | | | — | | | | 173,576 | |
| Rights | | | — | | | | — | | | | 7,083 | | | | 7,083 | |
| Short-Term Investments | | | 299,000 | | | | 7,517,095 | | | | — | | | | 7,816,095 | |
| Total Investments, at fair value | | $ | 13,356,101 | | | $ | 99,202,156 | | | $ | 407,450 | | | $ | 112,965,707 | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Centrally Cleared Interest Rate Swaps | | | — | | | | 1,148,672 | | | | — | | | | 1,148,672 | |
| Forward Foreign Currency Contracts | | | — | | | | 39,843 | | | | — | | | | 39,843 | |
| Forward Premium Swaptions | | | — | | | | 99,588 | | | | — | | | | 99,588 | |
| Futures | | | 135,659 | | | | — | | | | — | | | | 135,659 | |
| Total Assets | | $ | 13,491,760 | | | $ | 100,490,259 | | | $ | 407,450 | | | $ | 114,389,469 | |
| Liabilities Table | | | | | | | | | | | | | | | | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Centrally Cleared Interest Rate Swaps | | $ | — | | | $ | (1,170,776 | ) | | $ | — | | | $ | (1,170,776 | ) |
| Forward Foreign Currency Contracts | | | — | | | | (755,417 | ) | | | — | | | | (755,417 | ) |
| Forward Premium Swaptions | | | — | | | | (14,912 | ) | | | — | | | | (14,912 | ) |
| Futures | | | (122,964 | ) | | | — | | | | — | | | | (122,964 | ) |
| OTC interest rate swaps | | | — | | | | (36,605 | ) | | | — | | | | (36,605 | ) |
| OTC volatility swaps | | | — | | | | (20,578 | ) | | | — | | | | (20,578 | ) |
| Written Options | | | (9,224 | ) | | | (201,857 | ) | | | — | | | | (211,081 | ) |
| Total Liabilities | | $ | (132,188 | ) | | $ | (2,200,145 | ) | | $ | — | | | $ | (2,332,333 | ) |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| + | 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. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment
Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya VACS Series EMCD Fund | | $ | 3,938,570 | | | $ | 119,288 | | | $ | — | | | $ | 19,007 | | | $ | 4,076,865 | | | $ | 119,294 | | | $ | — | | | $ | — | |
| Voya VACS Series EMHCD Fund | | | 3,425,035 | | | | 111,335 | | | | — | | | | (6,068 | ) | | | 3,530,302 | | | | 111,341 | | | | — | | | | — | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
| Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment
Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya VACS Series HYB Fund | | $ | 5,292,452 | | | $ | 208,137 | | | $ | — | | | $ | (61,650 | ) | | $ | 5,438,939 | | | $ | 208,153 | | | $ | — | | | $ | — | |
| | | $ | 12,656,057 | | | $ | 438,760 | | | $ | — | | | $ | (48,711 | ) | | $ | 13,046,106 | | | $ | 438,788 | | | $ | — | | | $ | — | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, Voya Global Bond Portfolio held the following restricted securities:
| Security | | Acquisition Date | | Acquisition Cost | | | Fair Value | |
| Resolute Forest Products, Inc. - CVR | | 3/1/2023 | | $ | — | | | $ | 7,083 | |
| | | | | $ | — | | | $ | 7,083 | |
At June 30, 2024, the following forward foreign currency contracts were outstanding for Voya Global Bond Portfolio:
| Currency Purchased | | Currency Sold | | Counterparty | | Settlement Date | | Unrealized Appreciation (Depreciation) | |
| USD | 83,002 | | TRY | 3,843,000 | | Bank of America N.A. | | 04/03/25 | | $ | (6,681 | ) |
| NOK | 970,959 | | USD | 92,463 | | Barclays Bank PLC | | 08/02/24 | | | (1,449 | ) |
| GBP | 3,771,517 | | USD | 4,848,067 | | Barclays Bank PLC | | 08/02/24 | | | (79,563 | ) |
| USD | 1,354,162 | | MYR | 6,365,372 | | Barclays Bank PLC | | 08/23/24 | | | 3,649 | |
| SEK | 4,266,117 | | USD | 414,689 | | BNP Paribas | | 08/02/24 | | | (11,545 | ) |
| KRW | 1,666,464,733 | | USD | 1,204,263 | | BNP Paribas | | 08/23/24 | | | 6,752 | |
| JPY | 207,073 | | USD | 1,304 | | Brown Brothers Harriman & Co. | | 08/02/24 | | | (11 | ) |
| JPY | 521,124 | | USD | 3,322 | | Brown Brothers Harriman & Co. | | 08/02/24 | | | (67 | ) |
| DKK | 1,526,805 | | USD | 222,231 | | Brown Brothers Harriman & Co. | | 08/02/24 | | | (2,584 | ) |
| SGD | 343,577 | | USD | 254,654 | | Brown Brothers Harriman & Co. | | 08/23/24 | | | (629 | ) |
| USD | 1,079,322 | | ZAR | 19,733,492 | | Brown Brothers Harriman & Co. | | 08/23/24 | | | (891 | ) |
| USD | 1,290,945 | | CNY | 9,357,248 | | Brown Brothers Harriman & Co. | | 08/23/24 | | | (19,980 | ) |
| HUF | 29,109,883 | | USD | 78,989 | | Brown Brothers Harriman & Co. | | 08/30/24 | | | (236 | ) |
| IDR | 318,581,557 | | USD | 19,406 | | Citibank N.A. | | 08/23/24 | | | 52 | |
| USD | 151,689 | | THB | 5,542,988 | | Citibank N.A. | | 08/23/24 | | | (17 | ) |
| COP | 451,325,458 | | USD | 109,590 | | Citibank N.A. | | 08/30/24 | | | (1,877 | ) |
| TRY | 3,843,000 | | USD | 82,913 | | Goldman Sachs International | | 04/03/25 | | | 6,771 | |
| ILS | 446,061 | | USD | 120,091 | | HSBC Bank USA N.A. | | 08/23/24 | | | (1,725 | ) |
| USD | 482,420 | | BRL | 2,639,980 | | HSBC Bank USA N.A. | | 08/30/24 | | | 13,356 | |
| CLP | 50,202,943 | | USD | 53,139 | | JPMorgan Chase Bank N.A. | | 08/30/24 | | | 186 | |
| CAD | 3,580,250 | | USD | 2,617,201 | | Mizuho Capital Markets LLC | | 08/02/24 | | | 1,766 | |
| ZAR | 19,733,492 | | USD | 1,080,452 | | Mizuho Capital Markets LLC | | 08/23/24 | | | (239 | ) |
| EUR | 20,204,926 | | USD | 21,916,416 | | Morgan Stanley Capital Services LLC | | 08/02/24 | | | (245,270 | ) |
| CZK | 1,529 | | USD | 66 | | Morgan Stanley Capital Services LLC | | 08/23/24 | | | (1 | ) |
| HKD | 379,429 | | USD | 48,673 | | Morgan Stanley Capital Services LLC | | 08/23/24 | | | (8 | ) |
| PLN | 171,616 | | USD | 42,802 | | Morgan Stanley Capital Services LLC | | 08/23/24 | | | (197 | ) |
| USD | 326,951 | | EUR | 304,509 | | Standard Chartered Bank | | 08/02/24 | | | 345 | |
| USD | 12,841 | | EUR | 12,015 | | Standard Chartered Bank | | 08/02/24 | | | (45 | ) |
| RON | 360,146 | | USD | 77,631 | | Standard Chartered Bank | | 08/23/24 | | | (184 | ) |
| USD | 617,869 | | MXN | 11,283,510 | | Standard Chartered Bank | | 08/30/24 | | | 6,953 | |
| USD | 1,306 | | JPY | 207,073 | | State Street Bank and Trust Co. | | 08/02/24 | | | 13 | |
| USD | 53,052 | | EUR | 49,484 | | State Street Bank and Trust Co. | | 08/02/24 | | | (23 | ) |
| NZD | 299,433 | | USD | 185,792 | | State Street Bank and Trust Co. | | 08/02/24 | | | (3,406 | ) |
| AUD | 1,938,674 | | USD | 1,298,064 | | State Street Bank and Trust Co. | | 08/02/24 | | | (3,646 | ) |
| CHF | 521,226 | | USD | 588,191 | | State Street Bank and Trust Co. | | 08/02/24 | | | (5,813 | ) |
| JPY | 1,699,838,045 | | USD | 10,986,150 | | State Street Bank and Trust Co. | | 08/02/24 | | | (369,322 | ) |
| EUR | 3,725 | | USD | 4,003 | | UBS AG | | 08/02/24 | | | (8 | ) |
| | | | | | | | | | | $ | (715,574 | ) |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
At June 30, 2024, the following futures contracts were outstanding for Voya Global Bond Portfolio:
| Description | | Number
of Contracts | | Expiration Date | | Notional Amount | | | Unrealized Appreciation/ (Depreciation) | |
| Long Contracts: | | | | | | | | | | | | |
| Australia 3-Year Bond | | 16 | | 09/16/24 | | $ | 1,125,600 | | | $ | (7,398 | ) |
| Australia 10-Year Bond | | 4 | | 09/16/24 | | | 303,047 | | | | (2,715 | ) |
| Canada 10-Year Bond | | 17 | | 09/18/24 | | | 1,492,043 | | | | 11,941 | |
| Euro-Bobl 5-Year | | 52 | | 09/06/24 | | | 6,484,477 | | | | 36,142 | |
| Euro-Bund | | 4 | | 09/06/24 | | | 563,834 | | | | 5,262 | |
| Euro-Buxl 30-year German Government Bond | | 9 | | 09/06/24 | | | 1,255,325 | | | | 14,533 | |
| Euro-OAT | | 41 | | 09/06/24 | | | 5,406,072 | | | | (71,013 | ) |
| Euro-Schatz | | 37 | | 09/06/24 | | | 4,188,380 | | | | 15,226 | |
| Japan 10-Year Bond (TSE) | | 1 | | 09/12/24 | | | 887,936 | | | | (1,078 | ) |
| Japanese Government Bonds 10-Year Mini | | 19 | | 09/11/24 | | | 1,685,543 | | | | (3,016 | ) |
| Long Gilt | | 17 | | 09/26/24 | | | 2,096,741 | | | | 13,894 | |
| Long-Term Euro-BTP | | 12 | | 09/06/24 | | | 1,481,639 | | | | (17,288 | ) |
| U.S. Treasury 2-Year Note | | 60 | | 09/30/24 | | | 12,253,125 | | | | (16,713 | ) |
| U.S. Treasury 10-Year Note | | 1 | | 09/19/24 | | | 109,984 | | | | (646 | ) |
| U.S. Treasury Long Bond | | 5 | | 09/19/24 | | | 591,563 | | | | 6,903 | |
| U.S. Treasury Ultra Long Bond | | 3 | | 09/19/24 | | | 376,031 | | | | (2,781 | ) |
| | | | | | | $ | 40,301,340 | | | $ | (18,747 | ) |
| Short Contracts: | | | | | | | | | | | | |
| U.S. Treasury 5-Year Note | | (13) | | 09/30/24 | | | (1,385,515 | ) | | | (316 | ) |
| U.S. Treasury Ultra 10-Year Note | | (36) | | 09/19/24 | | | (4,087,125 | ) | | | 31,758 | |
| | | | | | | $ | (5,472,640 | ) | | $ | 31,442 | |
At June 30, 2024, the following centrally cleared interest rate swaps were outstanding for Voya Global Bond Portfolio:
Pay/Receive Floating Rate | | Floating Rate Index | | Floating Rate Index Payment Frequency | | Fixed Rate | | Fixed Rate Payment Frequency | | Maturity Date | | Notional
Amount | | | Fair
Value | | | Unrealized Appreciation/ (Depreciation) | |
| Pay | | 1-day BRL-CDI-CETIP | | Annual | | 9.692% | | Annual | | 01/02/26 | | BRL | 13,235,442 | | | $ | (66,550 | ) | | $ | (66,550 | ) |
| Pay | | 1-day Sterling Overnight Index Average (SONIA) | | Annual | | 1.649 | | Annual | | 04/14/52 | | GBP | 800,000 | | | | (388,222 | ) | | | (388,222 | ) |
| Pay | | 1-day Sterling Overnight Index Average (SONIA) | | Annual | | 4.760 | | Annual | | 05/25/25 | | GBP | 900,000 | | | | (1,866 | ) | | | (1,866 | ) |
| Pay | | 1-day Overnight Tokyo Average Rate | | Annual | | 0.410 | | Annual | | 06/20/29 | | JPY | 50,000,000 | | | | (4,257 | ) | | | (4,257 | ) |
| Pay | | 1-day Overnight Tokyo Average Rate | | Annual | | 0.978 | | Annual | | 06/28/52 | | JPY | 57,000,000 | | | | (57,862 | ) | | | (57,862 | ) |
| Pay | | 1-day Overnight Tokyo Average Rate | | Annual | | 0.574 | | Annual | | 06/10/37 | | JPY | 90,000,000 | | | | (44,019 | ) | | | (44,019 | ) |
| Pay | | 1-day Overnight Tokyo Average Rate | | Annual | | 0.826 | | Annual | | 05/20/47 | | JPY | 250,000,000 | | | | (239,944 | ) | | | (239,944 | ) |
| Pay | | 1-day Overnight Tokyo Average Rate | | Annual | | 0.664 | | Annual | | 07/15/37 | | JPY | 330,000,000 | | | | (141,305 | ) | | | (141,305 | ) |
| Pay | | 28-day MXN TIIE-BANXICO | | Monthly | | 9.990 | | Monthly | | 06/25/27 | | MXN | 8,989,000 | | | | 1,173 | | | | 1,173 | |
| Pay | | 28-day MXN TIIE-BANXICO | | Monthly | | 8.440 | | Monthly | | 07/20/28 | | MXN | 25,690,000 | | | | (57,947 | ) | | | (57,947 | ) |
| Pay | | 28-day MXN TIIE-BANXICO | | Monthly | | 9.310 | | Monthly | | 02/03/27 | | MXN | 25,747,000 | | | | (23,171 | ) | | | (23,171 | ) |
| Pay | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.058 | | Monthly | | 05/08/29 | | USD | 900,000 | | | | (37,392 | ) | | | (37,181 | ) |
| Pay | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.105 | | Monthly | | 08/08/32 | | USD | 1,870,000 | | | | (100,792 | ) | | | (108,452 | ) |
| Receive | | 1-day Sterling Overnight Index Average (SONIA) | | Annual | | 3.674 | | Annual | | 09/30/52 | | GBP | 70,000 | | | | 4,089 | | | | 4,089 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 3.860 | | Annual | | 06/26/34 | | USD | 1,000,000 | | | | 5,515 | | | | 5,515 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 1.551 | | Annual | | 01/24/29 | | USD | 2,000,000 | | | | 209,952 | | | | 209,952 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 3.464 | | Annual | | 09/26/32 | | USD | 2,000,000 | | | | 67,043 | | | | 67,043 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 3.482 | | Annual | | 06/09/33 | | USD | 2,000,000 | | | | 67,602 | | | | 67,602 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.477 | | Monthly | | 05/03/27 | | USD | 2,250,000 | | | | 47,657 | | | | 47,610 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.046 | | Monthly | | 05/08/30 | | USD | 2,300,000 | | | | 107,638 | | | | 107,442 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 2.962 | | Annual | | 06/14/27 | | USD | 3,000,000 | | | | 112,102 | | | | 112,102 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 4.006 | | Annual | | 06/26/29 | | USD | 3,000,000 | | | | 6,752 | | | | 6,752 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.114 | | Monthly | | 03/08/28 | | USD | 3,600,000 | | | | 124,299 | | | | 124,988 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Monthly | | 4.068 | | Monthly | | 05/03/25 | | USD | 3,750,000 | | | | 30,068 | | | | 30,009 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 3.605 | | Annual | | 01/08/31 | | USD | 4,000,000 | | | | 86,581 | | | | 86,581 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Annual | | 4.526 | | Annual | | 06/18/26 | | USD | 11,574,800 | | | | 14,672 | | | | 14,672 | |
| Receive | | 1-day Secured Overnight Financing Rate | | Monthly | | 3.678 | | Monthly | | 05/03/26 | | USD | 17,000,000 | | | | 263,342 | | | | 263,142 | |
| | | | | | | | | | | | | | | | | $ | (14,842 | ) | | $ | (22,104 | ) |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
At June 30, 2024, the following OTC interest rate swaps were outstanding for Voya Global Bond Portfolio:
Pay/Receive
Floating Rate | | Floating Rate Index | | Floating Rate Index Payment Frequency | | Counterparty | | Fixed Rate | | Fixed Rate Payment Frequency | | Maturity Date | | Notional
Amount | | | Fair
Value | | | Upfront Payments Paid/ (Received) | | | Unrealized Appreciation/ (Depreciation) | |
| Pay | | 1-day BRL-CDI-CETIP | | Annual | | JPMorgan Chase Bank & Co. | | 10.710 | | Annual | | 01/04/27 | | BRL | 3,661,151 | | | $ | (16,885 | ) | | $ | — | | | $ | (16,885 | ) |
| Pay | | 1-day BRL-CDI-CETIP | | Annual | | BNP Paribas | | 10.060 | | Annual | | 01/02/25 | | BRL | 28,560,070 | | | | (19,720 | ) | | | — | | | | (19,720 | ) |
| | | | | | | | | | | | | | | | | | | $ | (36,605 | ) | | $ | — | | | $ | (36,605 | ) |
At June 30, 2024, the following OTC volatility swaps were outstanding for Voya Global Bond Portfolio:
Pay/ Receive Volatility(1) | | Reference Entity | | Volatility Strike Rate | | Counterparty | | Maturity Date | | Currency | | Notional
Amount | | | Fair Value | | | Unrealized Appreciation (Depreciation) | |
| Receive | | USD vs. CAD Spot Exchange Rate | | 5.187% | | BNP Paribas | | 09/13/24 | | USD | | 9,000 | | | $ | (3,938 | ) | | $ | (3,938 | ) |
| Receive | | USD vs. CAD Spot Exchange Rate | | 5.555% | | BNP Paribas | | 10/10/24 | | USD | | 3,000 | | | | (2,141 | ) | | | (2,141 | ) |
| Receive | | GBP vs. USD Spot Exchange Rate | | 6.625% | | BNP Paribas | | 09/17/24 | | USD | | 5,000 | | | | (2,521 | ) | | | (2,521 | ) |
| Receive | | USD vs. CAD Spot Exchange Rate | | 5.200% | | Deutsche Bank AG | | 09/13/24 | | USD | | 9,000 | | | | (4,054 | ) | | | (4,054 | ) |
| Receive | | GBP vs. USD Spot Exchange Rate | | 6.600% | | Deutsche Bank AG | | 09/17/24 | | USD | | 5,000 | | | | (2,397 | ) | | | (2,397 | ) |
| Receive | | GBP vs. USD Spot Exchange Rate | | 6.525% | | Goldman Sachs International | | 09/17/24 | | USD | | 5,000 | | | | (2,026 | ) | | | (2,026 | ) |
| Receive | | USD vs. CAD Spot Exchange Rate | | 5.555% | | Standard Chartered Bank | | 10/10/24 | | USD | | 3,000 | | | | (2,141 | ) | | | (2,141 | ) |
| Receive | | USD vs. CAD Spot Exchange Rate | | 5.200% | | UBS AG | | 10/03/24 | | USD | | 5,000 | | | | (1,360 | ) | | | (1,360 | ) |
| | | | | | | | | | | | | | | | $ | (20,578 | ) | | $ | (20,578 | ) |
| (1) | Payments made at maturity date. |
At June 30, 2024, the following purchased exchange-traded options were outstanding for Voya Global Bond Portfolio:
| Description | | Put/Call | | Expiration Date | | Exercise
Price | | Number of
Contracts | | Notional Amount | | Cost | | Fair Value |
| 3-Month Euribor | | Put | | 12/16/24 | | 96.38 EUR | | 26 | | EUR | 6,284,525 | | | $ | 3,555 | | | $ | 2,089 | |
| 3-Month Euribor | | Call | | 12/16/24 | | 97.38 EUR | | 26 | | EUR | 6,284,525 | | | | 7,076 | | | | 2,088 | |
| | | | | | | | | | | | | | | $ | 10,631 | | | $ | 4,177 | |
At June 30, 2024, the following exchange-traded written options were outstanding for Voya Global Bond Portfolio:
| Description | | Put/Call | | Expiration Date | | Exercise
Price | | Number of Contracts | | Notional
Amount | | | Premiums
Received | | | Fair Value | |
| 3-Month Euribor | | Put | | 12/16/24 | | 96.63 EUR | | 26 | | EUR | 6,284,525 | | | $ | 7,007 | | | $ | (7,832 | ) |
| 3-Month Euribor | | Call | | 12/16/24 | | 97.63 EUR | | 26 | | EUR | 6,284,525 | | | | 4,191 | | | | (1,392 | ) |
| | | | | | | | | | | | | | | $ | 11,198 | | | $ | (9,224 | ) |
At June 30, 2024, the following OTC purchased foreign currency options were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Expiration Date | | Exercise
Price | | Notional Amount | | | Cost | | | Fair Value | |
| Call JPY vs. Put USD | | BNP Paribas | | 02/27/25 | | 107.500 | | USD | 747,500 | | | $ | 37,076 | | | $ | 100 | |
| Call MXN vs. Put EUR | | Deutsche Bank AG | | 07/19/24 | | 17.500 | | EUR | 90,000 | | | | 10,006 | | | | 104 | |
| Call TRY vs. Put USD | | Bank of America N.A. | | 04/02/25 | | 36.000 | | USD | 108,000 | | | | 7,722 | | | | 16,365 | |
| Call USD vs. Put CNH | | Standard Chartered Bank | | 06/20/25 | | 7.500 | | USD | 2,068,000 | | | | 15,328 | | | | 14,924 | |
| Call USD vs. Put JPY | | Bank of America N.A. | | 09/09/32 | | 140.000 | | USD | 877,800 | | | | 15,625 | | | | 28,052 | |
| Call USD vs. Put JPY | | BNP Paribas | | 09/09/32 | | 140.000 | | USD | 877,800 | | | | 16,748 | | | | 28,052 | |
| Call USD vs. Put JPY | | Goldman Sachs International | | 11/26/25 | | 165.000 | | USD | 192,000 | | | | 12,096 | | | | 36,286 | |
| | | | | | | | | | | | | $ | 114,601 | | | $ | 123,883 | |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
At June 30, 2024, the following OTC written foreign currency options were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Expiration
Date | | Exercise
Price | | Notional Amount | | | Premiums
Received | | | Fair Value | |
| Call CNH vs. Put USD | | Standard Chartered Bank | | 06/20/25 | | 6.835 | | USD | 2,068,000 | | | $ | 15,328 | | | $ | (15,714 | ) |
| Call USD vs. Put JPY | | Bank of America N.A. | | 09/09/27 | | 140.000 | | USD | 877,800 | | | | 24,859 | | | | (52,291 | ) |
| Call USD vs. Put JPY | | BNP Paribas | | 09/09/27 | | 140.000 | | USD | 877,800 | | | | 24,052 | | | | (52,291 | ) |
| | | | | | | | | | | | | $ | 64,239 | | | $ | (120,296 | ) |
At June 30, 2024, the following OTC purchased interest rate swaptions were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Pay/
Receive
Exercise
Rate | | Exercise
Rate | | Floating Rate
Index | | Expiration
Date | | Notional
Amount | | | Cost | | | Fair Value | |
| Call on 10-Year Interest Rate Swap(1) | | Mizuho Capital Markets LLC | | Receive | | 3.630% | | 1-day Secured Overnight Financing Rate | | 08/26/24 | | USD | 2,370,000 | | | $ | 13,841 | | | $ | 12,175 | |
| Put on 10-Year Interest Rate Swap(2) | | Mizuho Capital Markets LLC | | Pay | | 4.130% | | 1-day Secured Overnight Financing Rate | | 08/26/24 | | USD | 2,370,000 | | | | 14,220 | | | | 13,810 | |
| Put on 2-Year Interest Rate Swap(2) | | Goldman Sachs International | | Pay | | 3.100% | | 6-month EUR-EURIBOR | | 12/20/24 | | EUR | 5,925,000 | | | | 18,775 | | | | 19,531 | |
| | | | | | | | | | | | | | | | | $ | 46,836 | | | $ | 45,516 | |
At June 30, 2024, the following OTC written interest rate swaptions were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Pay/Receive Exercise Rate | | Exercise Rate | | Floating Rate Index | | Expiration Date | | Notional
Amount | | | Premiums
Received | | | Fair Value | |
| Call on 10-Year Interest Rate Swap(2) | | Mizuho Capital Markets LLC | | Pay | | 3.880% | | 1-day Secured Overnight Financing Rate | | 08/26/24 | | USD | 2,370,000 | | | $ | 31,995 | | | $ | (29,429 | ) |
| Put on 10-Year Interest Rate Swap(1) | | Mizuho Capital Markets LLC | | Receive | | 3.880% | | 1-day Secured Overnight Financing Rate | | 08/26/24 | | USD | 2,370,000 | | | | 31,995 | | | | (32,446 | ) |
| Put on 2-Year Interest Rate Swap(1) | | Goldman Sachs International | | Receive | | 3.280% | | 6-month EUR-EURIBOR | | 12/20/24 | | EUR | 5,925,000 | | | | 11,671 | | | | (12,179 | ) |
| Put on 2-Year Interest Rate Swap(1) | | Goldman Sachs International | | Receive | | 3.453% | | 6-month EUR-EURIBOR | | 12/20/24 | | EUR | 5,925,000 | | | | 7,104 | | | | (7,507 | ) |
| | | | | | | | | | | | | | | | | $ | 82,765 | | | $ | (81,561 | ) |
At June 30, 2024, the following OTC purchased forward premium swaptions were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Exercise Rate(3) | | Pay/ Receive Exercise Rate | | Floating Rate Index | | Expiration Date | | Notional
Amount | | | Premium receivable/ (payable) at expiration(4) | | Unrealized Appreciation/ (Depreciation) | |
| Call on 30-Year Interest Rate Swap | | Barclays Bank PLC | | 17.500% | | Receive | | 1-day Secured Overnight Financing Rate | | 06/14/27 | | USD | 1,307,000 | | | $ | (898,092 | ) | | $ | 33,234 | |
| Put on 30-Year Interest Rate Swap | | Barclays Bank PLC | | 18.000% | | Pay | | 1-day Secured Overnight Financing Rate | | 05/25/27 | | USD | 3,070,500 | | | | (293,300 | ) | | | 66,354 | |
| | | | | | | | | | | | | | | | | $ | (1,191,392 | ) | | $ | 99,588 | |
At June 30, 2024, the following OTC written forward premium swaptions were outstanding for Voya Global Bond Portfolio:
| Description | | Counterparty | | Exercise Rate(3) | | Pay/ Receive Exercise Rate | | Floating Rate Index | | Expiration Date | | Notional
Amount | | | Premium receivable/ (payable) at expiration(4) | | Unrealized Appreciation/ (Depreciation) | |
| Put on 5-Year Interest Rate Swap | | UBS AG | | 3.000% | | Receive | | 6-month EUR-EURIBOR | | 04/09/29 | | EUR | 3,609,000 | | | $ | 98,559 | | | $ | (14,912 | ) |
| | | | | | | | | | | | | | | | | $ | 98,559 | | | $ | (14,912 | ) |
| (1) | Portfolio pays the exercise rate semi-annually and receives the floating rate index quarterly. |
| (2) | Portfolio receives the exercise rate semi-annually and pays the floating rate index quarterly. |
| (3) | Forward premium swaption exercise rates represent the premium price on each respective swaption contract. Final exercise rate will be determined at the expiration of each respective swaption contract. |
| (4) | Forward premium swaptions include premiums receivable/(payable) that have extended settlement dates. Premiums are not exchanged until the expiration date of each respective forward premium swaption contract. |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS | |
| as of June 30, 2024 (Unaudited) (continued) | |
| Currency Abbreviations: | Currency Abbreviations: |
| AUD | — | Australian Dollar | ILS | — | Israeli New Shekel |
| BRL | — | Brazilian Real | JPY | — | Japanese Yen |
| CAD | — | Canadian Dollar | KRW | — | South Korean Won |
| CHF | — | Swiss Franc | MXN | — | Mexican Peso |
| CLP | — | Chilean Peso | MYR | — | Malaysian Ringgit |
| CNY | — | Chinese Yuan | NOK | — | Norwegian Krone |
| COP | — | Colombian Peso | NZD | — | New Zealand Dollar |
| CZK | — | Czech Koruna | PLN | — | Polish Zloty |
| DKK | — | Danish Krone | RON | — | Romanian New Leu |
| EUR | — | EU Euro | SEK | — | Swedish Krona |
| GBP | — | British Pound | SGD | — | Singapore Dollar |
| HKD | — | Hong Kong Sar Dollar | THB | — | Thai Baht |
| HUF | — | Hungarian Forint | TRY | — | Turkish Lira |
| IDR | — | Indonesian Rupiah | USD | — | United States Dollar |
| | | | ZAR | — | South African Rand |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of June 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | | Location on Statement of Assets and Liabilities | | Fair Value |
| Asset Derivatives | | | | |
| Foreign exchange contracts | | Investments in securities at value* | $ | 123,883 |
| Interest rate contracts | | Investments in securities at value* | | 49,693 |
| Foreign exchange contracts | | Unrealized appreciation on forward foreign currency contracts | | 39,843 |
| Interest rate contracts | | Unrealized appreciation on forward premium swaptions | | 99,588 |
| Interest rate contracts | | Variation margin receivable on futures contracts** | | 135,659 |
| Interest rate contracts | | Variation margin receivable on centrally cleared swaps** | | 1,148,672 |
| Total Asset Derivatives | | | $ | 1,597,338 |
| | | | | |
| Liability Derivatives | | | | |
| Foreign exchange contracts | | Unrealized depreciation on forward foreign currency contracts | $ | 755,417 |
| Interest rate contracts | | Unrealized depreciation on forward premium swaptions | | 14,912 |
| Interest rate contracts | | Variation margin payable on futures contracts** | | 122,964 |
| Interest rate contracts | | Variation margin payable on centrally cleared swaps** | | 1,170,776 |
| Foreign exchange contracts | | Unrealized depreciation on OTC swap agreements | | 20,578 |
| Interest rate contracts | | Unrealized depreciation on OTC swap agreements | | 36,605 |
| Foreign exchange contracts | | Written options, at fair value | | 120,296 |
| Interest rate contracts | | Written options, at fair value | | 90,785 |
| Total Liability Derivatives | | | $ | 2,332,333 |
| * | Includes purchased options. |
| ** | The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day’s unsettled variation margin is reported in receivables or payables on futures contracts and centrally cleared swaps and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss). |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Investments* | | | Forward
foreign
currency
contracts | | | Futures | | | Swaps | | | Written
options | | | Total | |
| Credit contracts | | $ | — | | | $ | — | | | $ | — | | | $ | 19,134 | | | $ | — | | | $ | 19,134 | |
| Equity contracts | | | — | | | | — | | | | (11,901 | ) | | | — | | | | — | | | | (11,901 | ) |
| Foreign exchange contracts | | | (37,176 | ) | | | (2,049,178 | ) | | | — | | | | — | | | | 15,875 | | | | (2,070,479 | ) |
| Interest rate contracts | | | (25,518 | ) | | | — | | | | (432,724 | ) | | | (26,499 | ) | | | 234,409 | | | | (250,332 | ) |
| Total | | $ | (62,694 | ) | | $ | (2,049,178 | ) | | $ | (444,625 | ) | | $ | (7,365 | ) | | $ | 250,284 | | | $ | (2,313,578 | ) |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Investments* | | | Forward
foreign
currency
contracts | | | Futures | | | Swaps | | | Written
options | | | Total | |
| Foreign exchange contracts | | $ | 60,429 | | | $ | (1,737,683 | ) | | $ | — | | | $ | (20,578 | ) | | $ | (72,405 | ) | | $ | (1,770,237 | ) |
| Interest rate contracts | | | 98,918 | | | | — | | | | (671,219 | ) | | | 657,510 | | | | 10,098 | | | | 95,307 | |
| Total | | $ | 159,347 | | | $ | (1,737,683 | ) | | $ | (671,219 | ) | | $ | 636,932 | | | $ | (62,307 | ) | | $ | (1,674,930 | ) |
| * | Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments. |
The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2024:
| | | Bank of
America N.A. | | | Barclays Bank
PLC | | | BNP Paribas | | | Brown
Brothers
Harriman &
Co. | | | Citibank N.A. | | | Deutsche
Bank AG | | | Goldman
Sachs
International | | | HSBC Bank
USA N.A. | | | JPMorgan
Chase Bank
& Co. | | | JPMorgan
Chase Bank
N.A. | | | Mizuho
Capital
Markets LLC | |
| Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Purchased options | | $ | 44,417 | | | $ | — | | | $ | 28,152 | | | $ | — | | | $ | — | | | $ | 104 | | | $ | 55,817 | | | $ | — | | | $ | — | | | $ | — | | | $ | 25,985 | |
| Forward foreign currency contracts | | | — | | | | 3,649 | | | | 6,752 | | | | — | | | | 52 | | | | — | | | | 6,771 | | | | 13,356 | | | | — | | | | 186 | | | | 1,766 | |
| Forward premium swaptions | | | — | | | | 99,588 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Total Assets | | $ | 44,417 | | | $ | 103,237 | | | $ | 34,904 | | | $ | — | | | $ | 52 | | | $ | 104 | | | $ | 62,588 | | | $ | 13,356 | | | $ | — | | | $ | 186 | | | $ | 27,751 | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 6,681 | | | $ | 81,012 | | | $ | 11,545 | | | $ | 24,398 | | | $ | 1,894 | | | $ | — | | | $ | — | | | $ | 1,725 | | | $ | — | | | $ | — | | | $ | 239 | |
| OTC interest rate swaps | | | — | | | | — | | | | 19,720 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 16,885 | | | | — | | | | — | |
| Volatility Swaps | | | — | | | | — | | | | 8,600 | | | | — | | | | — | | | | 6,451 | | | | 2,026 | | | | — | | | | — | | | | — | | | | — | |
| Written options | | | 52,291 | | | | — | | | | 52,291 | | | | — | | | | — | | | | — | | | | 19,686 | | | | — | | | | — | | | | — | | | | 61,875 | |
| Total Liabilities | | $ | 58,972 | | | $ | 81,012 | | | $ | 92,156 | | | $ | 24,398 | | | $ | 1,894 | | | $ | 6,451 | | | $ | 21,712 | | | $ | 1,725 | | | $ | 16,885 | | | $ | — | | | $ | 62,114 | |
| Net OTC derivative instruments by counterparty, at fair value | | $ | (14,555 | ) | | $ | 22,225 | | | $ | (57,252 | ) | | $ | (24,398 | ) | | $ | (1,842 | ) | | $ | (6,347 | ) | | $ | 40,876 | | | $ | 11,631 | | | $ | (16,885 | ) | | $ | 186 | | | $ | (34,363 | ) |
| Total collateral pledged by the Portfolio/(Received from counterparty) | | $ | 14,555 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Net Exposure(1)(2) | | $ | — | | | $ | 22,225 | | | $ | (57,252 | ) | | $ | (24,398 | ) | | $ | (1,842 | ) | | $ | (6,347 | ) | | $ | 40,876 | | | $ | 11,631 | | | $ | (16,885 | ) | | $ | 186 | | | $ | (34,363 | ) |
See Accompanying Notes to Financial Statements
| Voya Global Bond Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| | | Morgan
Stanley
Capital
Services LLC | | | Standard
Chartered
Bank | | | State Street
Bank and
Trust Co. | | | UBS AG | | | Total | |
| Assets: | | | | | | | | | | | | | | | | | | | | |
| Purchased options | | $ | — | | | $ | 14,924 | | | $ | — | | | $ | — | | | $ | 169,399 | |
| Forward foreign currency contracts | | | — | | | | 7,298 | | | | 13 | | | | — | | | | 39,843 | |
| Forward premium swaptions | | | — | | | | — | | | | — | | | | — | | | | 99,588 | |
| Total Assets | | $ | — | | | $ | 22,222 | | | $ | 13 | | | $ | — | | | $ | 308,830 | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 245,476 | | | $ | 229 | | | $ | 382,210 | | | $ | 8 | | | $ | 755,417 | |
| Forward premium swaptions | | | — | | | | — | | | | — | | | | 14,912 | | | | 14,912 | |
| OTC interest rate swaps | | | — | | | | — | | | | — | | | | — | | | | 36,605 | |
| Volatility Swaps | | | — | | | | 2,141 | | | | — | | | | 1,360 | | | | 20,578 | |
| Written options | | | — | | | | 15,714 | | | | — | | | | — | | | | 201,857 | |
| Total Liabilities | | $ | 245,476 | | | $ | 18,084 | | | $ | 382,210 | | | $ | 16,280 | | | $ | 1,029,369 | |
| Net OTC derivative instruments by counterparty, at fair value | | $ | (245,476 | ) | | $ | 4,138 | | | $ | (382,197 | ) | | $ | (16,280 | ) | | $ | (720,539 | ) |
| Total collateral pledged by the Portfolio/(Received from counterparty) | | $ | 245,476 | | | $ | — | | | $ | — | | | $ | — | | | $ | 260,031 | |
| Net Exposure(1)(2) | | $ | — | | | $ | 4,138 | | | $ | (382,197 | ) | | $ | (16,280 | ) | | $ | (460,508 | ) |
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
| (2) | At June 30, 2024, the Portfolio had pledged $30,000, $390,000 and $4,800 in cash collateral to Bank of America N.A., Morgan Stanley Capital Services LLC and Standard Chartered Bank, respectively. Excess cash collateral is not shown for financial reporting purposes. |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $123,654,004. | | | |
| Net unrealized depreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 1,817,476 | |
| Gross Unrealized Depreciation | | | (12,351,536 | ) |
| Net Unrealized Depreciation | | $ | (10,534,060 | ) |
See Accompanying Notes to Financial Statements
| Voya Global Insights Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 98.2% | | | | | | | |
| | | | Canada: 2.9% | | | | | | | |
| 1,237,076 (1) | | | NexGen Energy Ltd. | | $ | 8,626,662 | | | 0.8 | |
| 467,137 | | | Wheaton Precious Metals Corp. | | | 24,487,322 | | | 2.1 | |
| | | | | | | 33,113,984 | | | 2.9 | |
| | | | China: 1.1% | | | | | | | |
| 273,370 (1) | | | Trip.com Group Ltd., ADR | | | 12,848,390 | | | 1.1 | |
| | | | | | | | | | | |
| | | | Denmark: 1.8% | | | | | | | |
| 140,995 | | | Novo Nordisk A/S - Class B | | | 20,174,251 | | | 1.8 | |
| | | | | | | | | | | |
| | | | France: 0.7% | | | | | | | |
| 741,480 | | | Orange SA | | | 7,437,424 | | | 0.7 | |
| | | | | | | | | | | |
| | | | India: 4.5% | | | | | | | |
| 1,212,137 | | | DLF Ltd. | | | 11,966,370 | | | 1.0 | |
| 158,645 | | | Maruti Suzuki India Ltd. | | | 22,873,872 | | | 2.0 | |
| 449,460 | | | Reliance Industries Ltd. | | | 16,848,740 | | | 1.5 | |
| | | | | | | 51,688,982 | | | 4.5 | |
| | | | Indonesia: 0.8% | | | | | | | |
| 15,190,100 | | | Bank Central Asia Tbk PT | | | 9,191,392 | | | 0.8 | |
| | | | | | | | | | | |
| | | | Italy: 1.7% | | | | | | | |
| 2,866,870 | | | Enel SpA | | | 19,892,627 | | | 1.7 | |
| | | | | | | | | | | |
| | | | Japan: 5.6% | | | | | | | |
| 193,100 | | | Bridgestone Corp. | | | 7,619,611 | | | 0.7 | |
| 1,500,000 | | | Hitachi Ltd. | | | 33,774,489 | | | 2.9 | |
| 272,300 | | | Sony Group Corp. | | | 23,205,726 | | | 2.0 | |
| | | | | | | 64,599,826 | | | 5.6 | |
| | | | Netherlands: 0.9% | | | | | | | |
| 367,020 | | | Koninklijke Ahold Delhaize NV | | | 10,800,337 | | | 0.9 | |
| | | | | | | | | | | |
| | | | Spain: 4.4% | | | | | | | |
| 4,504,880 | | | Banco Santander SA | | | 20,960,199 | | | 1.8 | |
| 596,115 | | | Industria de Diseno Textil SA | | | 29,581,254 | | | 2.6 | |
| | | | | | | 50,541,453 | | | 4.4 | |
| | | | Switzerland: 3.6% | | | | | | | |
| 336,450 | | | Holcim AG | | | 29,739,512 | | | 2.6 | |
| 20,370 | | | Lonza Group AG | | | 11,089,529 | | | 1.0 | |
| | | | | | | 40,829,041 | | | 3.6 | |
| | | | Taiwan: 2.0% | | | | | | | |
| 788,000 | | | Taiwan Semiconductor Manufacturing Co. Ltd. | | | 23,346,568 | | | 2.0 | |
| | | | | | | | | | | |
| | | | United Kingdom: 1.4% | | | | | | | |
| 1,877,355 | | | Legal & General Group PLC | | | 5,375,909 | | | 0.5 | |
| 303,095 | | | Shell PLC | | | 10,871,367 | | | 0.9 | |
| | | | | | | 16,247,276 | | | 1.4 | |
| | | | United States: 66.8% | | | | | | | |
| 217,294 | | | Acushnet Holdings Corp. | | | 13,793,823 | | | 1.2 | |
| 33,537 (1) | | | Advanced Micro Devices, Inc. | | | 5,440,037 | | | 0.5 | |
| 152,033 | | | Alcoa Corp. | | | 6,047,873 | | | 0.5 | |
| 132,350 (1) | | | Amazon.com, Inc. | | | 25,576,638 | | | 2.2 | |
| 88,730 | | | Apple, Inc. | | | 18,688,313 | | | 1.6 | |
| 286,963 (1) | | | ARM Holdings PLC, ADR | | | 46,952,886 | | | 4.1 | |
| 1,282,286 | | | AT&T, Inc. | | | 24,504,485 | | | 2.1 | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | | | | |
| | | | United States (continued) | | | | | | | |
| 459,175 (1) | | | Avantor, Inc. | | $ | 9,734,510 | | | 0.9 | |
| 535,459 | | | Bank of America Corp. | | | 21,295,204 | | | 1.9 | |
| 151,763 (1) | | | Boston Scientific Corp. | | | 11,687,269 | | | 1.0 | |
| 90,192 (1) | | | Coinbase Global, Inc. - Class A | | | 20,043,368 | | | 1.7 | |
| 137,453 | | | Constellation Energy Corp. | | | 27,527,712 | | | 2.4 | |
| 174,272 (1) | | | Dave & Buster’s Entertainment, Inc. | | | 6,937,768 | | | 0.6 | |
| 178,080 (1) | | | Edwards Lifesciences Corp. | | | 16,449,250 | | | 1.4 | |
| 51,899 (1) | | | Elastic NV | | | 5,911,815 | | | 0.5 | |
| 12,894 | | | Eli Lilly & Co. | | | 11,673,970 | | | 1.0 | |
| 120,649 | | | Emerson Electric Co. | | | 13,290,694 | | | 1.2 | |
| 74,425 (1) | | | First Solar, Inc. | | | 16,779,861 | | | 1.5 | |
| 435,960 | | | Fox Corp. - Class A | | | 14,983,945 | | | 1.3 | |
| 452,764 | | | Freeport-McMoRan, Inc. | | | 22,004,330 | | | 1.9 | |
| 62,423 (1) | | | FTI Consulting, Inc. | | | 13,454,029 | | | 1.2 | |
| 167,619 | | | General Electric Co. | | | 26,646,392 | | | 2.3 | |
| 34,435 | | | HCA Healthcare, Inc. | | | 11,063,277 | | | 1.0 | |
| 44,004 (1) | | | Inspire Medical Systems, Inc. | | | 5,889,055 | | | 0.5 | |
| 206,210 | | | Interactive Brokers Group, Inc. - Class A | | | 25,281,346 | | | 2.2 | |
| 432,225 (1) | | | Joby Aviation, Inc. | | | 2,204,348 | | | 0.2 | |
| 18,436 | | | Lam Research Corp. | | | 19,631,575 | | | 1.7 | |
| 44,377 | | | Microsoft Corp. | | | 19,834,300 | | | 1.7 | |
| 1,176 (1) | | | MicroStrategy, Inc. - Class A | | | 1,619,917 | | | 0.1 | |
| 58,285 (1) | | | Natera, Inc. | | | 6,311,683 | | | 0.6 | |
| 166,560 | | | NextEra Energy, Inc. | | | 11,794,114 | | | 1.0 | |
| 216,865 | | | NVIDIA Corp. | | | 26,791,502 | | | 2.3 | |
| 135,959 | | | Occidental Petroleum Corp. | | | 8,569,496 | | | 0.7 | |
| 287,509 | | | Otis Worldwide Corp. | | | 27,675,616 | | | 2.4 | |
| 398,154 (1) | | | Pinterest, Inc. - Class A | | | 17,546,647 | | | 1.5 | |
| 131,010 | | | Prologis, Inc. | | | 14,713,733 | | | 1.3 | |
| 86,610 | | | Raymond James Financial, Inc. | | | 10,705,862 | | | 0.9 | |
| 56,517 | | | Rockwell Automation, Inc. | | | 15,558,000 | | | 1.4 | |
| 44,861 (1) | | | SiTime Corp. | | | 5,579,811 | | | 0.5 | |
| 62,058 | | | Targa Resources Corp. | | | 7,991,829 | | | 0.7 | |
| 430,006 (1) | | | Topgolf Callaway Brands Corp. | | | 6,579,092 | | | 0.6 | |
| 157,615 (1) | | | Uber Technologies, Inc. | | | 11,455,458 | | | 1.0 | |
| 47,762 | | | Valero Energy Corp. | | | 7,487,171 | | | 0.7 | |
| 210,973 | | | Veralto Corp. | | | 20,141,592 | | | 1.8 | |
| 128,878 | | | Vertiv Holdings Co. - Class A | | | 11,156,968 | | | 1.0 | |
| 109,441 (1) | | | Viking Therapeutics, Inc. | | | 5,801,467 | | | 0.5 | |
| 393,606 | | | Walmart, Inc. | | | 26,651,062 | | | 2.3 | |
| 240,835 | | | Walt Disney Co. | | | 23,912,507 | | | 2.1 | |
| 103,065 (1) | | | Weatherford International PLC | | | 12,620,309 | | | 1.1 | |
| 184,880 (1) | | | Western Digital Corp. | | | 14,008,358 | | | 1.2 | |
| 52,739 | | | Zoetis, Inc. | | | 9,142,833 | | | 0.8 | |
| | | | | | | 767,143,100 | | | 66.8 | |
| | | | Total Common Stock
(Cost $1,005,790,251) | | | 1,127,854,651 | | | 98.2 | |
See Accompanying Notes to Financial Statements
| Voya Global Insights Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| COMMON STOCK: (continued) | | | | |
| | | | United States (continued) | | | | | | |
| | | | Total Long-Term Investments
(Cost $1,005,790,251) | | $ | 1,127,854,651 | | | 98.2 | |
| | | | | | | | | | | |
| | | | | | | | | | | |
| SHORT-TERM INVESTMENTS: 1.0% | | | | | |
| | | | Mutual Funds: 1.0% | | | | | | | |
| 11,980,428 (2) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $11,980,428) | | $ | 11,980,428 | | | 1.0 | |
| | | | Total Short-Term Investments
(Cost $11,980,428) | | | 11,980,428 | | | 1.0 | |
| | | | Total Investments in Securities
(Cost $1,017,770,679) | | $ | 1,139,835,079 | | | 99.2 | |
| | | | Assets in Excess of Other Liabilities | | | 9,191,916 | | | 0.8 | |
| | | | Net Assets | | $ | 1,149,026,995 | | | 100.0 | |
| ADR | American Depositary Receipt |
| (1) | Non-income producing security. |
| (2) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| Voya Global Insights Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Canada | | $ | 33,113,984 | | | $ | — | | | $ | — | | | $ | 33,113,984 | |
| China | | | 12,848,390 | | | | — | | | | — | | | | 12,848,390 | |
| Denmark | | | — | | | | 20,174,251 | | | | — | | | | 20,174,251 | |
| France | | | — | | | | 7,437,424 | | | | — | | | | 7,437,424 | |
| India | | | — | | | | 51,688,982 | | | | — | | | | 51,688,982 | |
| Indonesia | | | — | | | | 9,191,392 | | | | — | | | | 9,191,392 | |
| Italy | | | — | | | | 19,892,627 | | | | — | | | | 19,892,627 | |
| Japan | | | — | | | | 64,599,826 | | | | — | | | | 64,599,826 | |
| Netherlands | | | — | | | | 10,800,337 | | | | — | | | | 10,800,337 | |
| Spain | | | — | | | | 50,541,453 | | | | — | | | | 50,541,453 | |
| Switzerland | | | — | | | | 40,829,041 | | | | — | | | | 40,829,041 | |
| Taiwan | | | — | | | | 23,346,568 | | | | — | | | | 23,346,568 | |
| United Kingdom | | | — | | | | 16,247,276 | | | | — | | | | 16,247,276 | |
| United States | | | 767,143,100 | | | | — | | | | — | | | | 767,143,100 | |
| Total Common Stock | | | 813,105,474 | | | | 314,749,177 | | | | — | | | | 1,127,854,651 | |
| Short-Term Investments | | | 11,980,428 | | | | — | | | | — | | | | 11,980,428 | |
| Total Investments, at fair value | | $ | 825,085,902 | | | $ | 314,749,177 | | | $ | — | | | $ | 1,139,835,079 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts | |
| Foreign exchange contracts | | $ | 34,416 | |
| Total | | $ | 34,416 | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts | |
| Foreign exchange contracts | | $ | (4,078 | ) |
| Total | | $ | (4,078 | ) |
See Accompanying Notes to Financial Statements
| Voya Global Insights Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $1,029,477,700. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 148,650,638 | |
| Gross Unrealized Depreciation | | | (29,706,704 | ) |
| Net Unrealized Appreciation | | $ | 118,943,934 | |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 97.2% | | | | | | | |
| | | | Australia: 8.1% | | | | | | | |
| 84,921 | | | Ampol Ltd. | | $ | 1,826,517 | | | 0.6 | |
| 215,797 | | | ANZ Group Holdings Ltd. | | | 4,054,318 | | | 1.3 | |
| 721,560 | | | Aurizon Holdings Ltd. | | | 1,752,838 | | | 0.6 | |
| 183,467 (1) | | | Brambles Ltd. | | | 1,770,439 | | | 0.6 | |
| 100,535 | | | Computershare Ltd. | | | 1,758,335 | | | 0.6 | |
| 480,731 | | | Insurance Australia Group Ltd. | | | 2,278,921 | | | 0.7 | |
| 677,346 | | | Medibank Pvt Ltd. | | | 1,678,673 | | | 0.5 | |
| 237,960 | | | Origin Energy Ltd. | | | 1,721,627 | | | 0.6 | |
| 163,787 | | | QBE Insurance Group Ltd. | | | 1,890,689 | | | 0.6 | |
| 42,023 | | | Rio Tinto Ltd. | | | 3,328,710 | | | 1.1 | |
| 62,003 | | | Santos Ltd. | | | 314,567 | | | 0.1 | |
| 154,499 | | | Suncorp Group Ltd. | | | 1,786,622 | | | 0.6 | |
| 331,065 | | | Telstra Group Ltd. | | | 799,261 | | | 0.2 | |
| | | | | | | 24,961,517 | | | 8.1 | |
| | | | Austria: 2.0% | | | | | | | |
| 53,518 | | | Erste Group Bank AG | | | 2,533,284 | | | 0.8 | |
| 91,285 | | | Mondi PLC QX | | | 1,752,241 | | | 0.6 | |
| 43,086 | | | OMV AG | | | 1,872,831 | | | 0.6 | |
| | | | | | | 6,158,356 | | | 2.0 | |
| | | | Denmark: 1.8% | | | | | | | |
| 72,281 | | | Danske Bank A/S | | | 2,155,855 | | | 0.7 | |
| 11,743 | | | Novo Nordisk A/S - Class B | | | 1,680,246 | | | 0.5 | |
| 79,361 | | | Tryg A/S | | | 1,733,928 | | | 0.6 | |
| | | | | | | 5,570,029 | | | 1.8 | |
| | | | Finland: 0.4% | | | | | | | |
| 29,148 | | | Orion Oyj - Class B | | | 1,243,149 | | | 0.4 | |
| | | | | | | | | | | |
| | | | France: 7.6% | | | | | | | |
| 2,327 | | | Air Liquide SA | | | 401,611 | | | 0.1 | |
| 53,806 | | | AXA SA | | | 1,763,290 | | | 0.6 | |
| 18,875 | | | Bureau Veritas SA | | | 524,520 | | | 0.2 | |
| 46,767 | | | Cie Generale des Etablissements Michelin SCA | | | 1,807,597 | | | 0.6 | |
| 102,933 | | | Credit Agricole SA | | | 1,405,511 | | | 0.5 | |
| 49,573 | | | Danone SA | | | 3,036,337 | | | 1.0 | |
| 12,160 | | | Eiffage SA | | | 1,117,583 | | | 0.4 | |
| 77,713 | | | Getlink SE | | | 1,286,725 | | | 0.4 | |
| 71,611 | | | Klepierre SA | | | 1,911,868 | | | 0.6 | |
| 225,985 | | | Orange SA | | | 2,266,745 | | | 0.7 | |
| 59,430 | | | Sanofi | | | 5,731,616 | | | 1.9 | |
| 4,594 | | | Thales SA | | | 734,894 | | | 0.2 | |
| 13,045 | | | Vinci SA | | | 1,375,001 | | | 0.4 | |
| | | | | | | 23,363,298 | | | 7.6 | |
| | | | Germany: 6.3% | | | | | | | |
| 20,732 | | | Allianz SE | | | 5,757,919 | | | 1.9 | |
| 6,856 | | | BASF SE | | | 331,437 | | | 0.1 | |
| 19,669 | | | Commerzbank AG | | | 298,344 | | | 0.1 | |
| 7,327 | | | Deutsche Boerse AG | | | 1,497,614 | | | 0.5 | |
| 174,684 | | | Deutsche Telekom AG, Reg | | | 4,390,772 | | | 1.4 | |
| 98,506 | | | Evonik Industries AG | | | 2,009,993 | | | 0.7 | |
| 4,809 | | | Hannover Rueck SE | | | 1,217,343 | | | 0.4 | |
| 9,800 | | | Mercedes-Benz Group AG | | | 678,273 | | | 0.2 | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | | | | |
| | | | Germany (continued) | | | | | | | |
| 3,888 | | | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | | $ | 1,943,827 | | | 0.6 | |
| 14,764 (2) | | | Scout24 SE | | | 1,128,026 | | | 0.4 | |
| | | | | | | 19,253,548 | | | 6.3 | |
| | | | Hong Kong: 2.0% | | | | | | | |
| 751,000 | | | BOC Hong Kong Holdings Ltd. | | | 2,317,357 | | | 0.8 | |
| 1,054,000 | | | HKT Trust & HKT Ltd. - Stapled Security | | | 1,182,213 | | | 0.4 | |
| 23,800 | | | Jardine Matheson Holdings Ltd. | | | 844,900 | | | 0.3 | |
| 311,500 | | | Power Assets Holdings Ltd. | | | 1,683,493 | | | 0.5 | |
| | | | | | | 6,027,963 | | | 2.0 | |
| | | | Ireland: 1.1% | | | | | | | |
| 157,657 | | | AIB Group PLC | | | 832,602 | | | 0.3 | |
| 201,022 | | | Bank of Ireland Group PLC | | | 2,099,969 | | | 0.7 | |
| 4,888 | | | DCC PLC | | | 341,141 | | | 0.1 | |
| | | | | | | 3,273,712 | | | 1.1 | |
| | | | Israel: 0.7% | | | | | | | |
| 86,233 | | | Bank Hapoalim BM | | | 761,576 | | | 0.2 | |
| 41,120 | | | Bank Leumi Le-Israel BM | | | 335,193 | | | 0.1 | |
| 6,625 | | | Elbit Systems Ltd. | | | 1,152,827 | | | 0.4 | |
| | | | | | | 2,249,596 | | | 0.7 | |
| | | | Italy: 5.4% | | | | | | | |
| 63,699 | | | Assicurazioni Generali SpA | | | 1,585,722 | | | 0.5 | |
| 305,536 | | | Banco BPM SpA | | | 1,966,370 | | | 0.6 | |
| 185,183 | | | Eni SpA | | | 2,843,421 | | | 0.9 | |
| 793,254 | | | Intesa Sanpaolo SpA | | | 2,948,062 | | | 1.0 | |
| 92,045 | | | Leonardo SpA | | | 2,132,574 | | | 0.7 | |
| 149,576 (2) | | | Poste Italiane SpA | | | 1,903,287 | | | 0.6 | |
| 87,108 | | | UniCredit SpA | | | 3,223,522 | | | 1.1 | |
| | | | | | | 16,602,958 | | | 5.4 | |
| | | | Japan: 23.1% | | | | | | | |
| 289,800 | | | Asahi Kasei Corp. | | | 1,860,836 | | | 0.6 | |
| 37,100 | | | Astellas Pharma, Inc. | | | 366,019 | | | 0.1 | |
| 62,400 (3) | | | Bridgestone Corp. | | | 2,462,267 | | | 0.8 | |
| 42,900 | | | Brother Industries Ltd. | | | 757,794 | | | 0.3 | |
| 105,300 | | | Central Japan Railway Co. | | | 2,282,602 | | | 0.7 | |
| 142,200 | | | Chubu Electric Power Co., Inc. | | | 1,679,855 | | | 0.6 | |
| 16,100 | | | Daito Trust Construction Co. Ltd. | | | 1,666,534 | | | 0.5 | |
| 80,700 | | | Daiwa House Industry Co. Ltd. | | | 2,054,612 | | | 0.7 | |
| 52,600 | | | East Japan Railway Co. | | | 875,772 | | | 0.3 | |
| 491,800 | | | ENEOS Holdings, Inc. | | | 2,534,468 | | | 0.8 | |
| 201,400 | | | Honda Motor Co. Ltd. | | | 2,165,048 | | | 0.7 | |
| 22,300 | | | Japan Airlines Co. Ltd. | | | 352,340 | | | 0.1 | |
| 226,100 | | | Japan Post Bank Co. Ltd. | | | 2,146,813 | | | 0.7 | |
| 102,700 (3) | | | Japan Tobacco, Inc. | | | 2,781,059 | | | 0.9 | |
| 133,000 | | | JFE Holdings, Inc. | | | 1,919,540 | | | 0.6 | |
| 22,000 | | | Kao Corp. | | | 890,713 | | | 0.3 | |
| 151,100 (3) | | | Kirin Holdings Co. Ltd. | | | 1,951,849 | | | 0.6 | |
| 72,300 | | | MatsukiyoCocokara & Co. | | | 1,038,256 | | | 0.3 | |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | | | | |
| | | | Japan (continued) | | | | | | | |
| 41,100 | | | McDonald’s Holdings Co. Japan Ltd. | | $ | 1,622,020 | | | 0.5 | |
| 84,100 | | | MEIJI Holdings Co. Ltd. | | | 1,818,926 | | | 0.6 | |
| 296,900 | | | Mitsubishi Chemical Group Corp. | | | 1,654,264 | | | 0.5 | |
| 31,200 | | | Mitsui Chemicals, Inc. | | | 863,972 | | | 0.3 | |
| 37,500 (3) | | | Nippon Express Holdings, Inc. | | | 1,735,520 | | | 0.6 | |
| 110,100 | | | Nippon Steel Corp. | | | 2,333,948 | | | 0.8 | |
| 1,553,200 | | | Nippon Telegraph & Telephone Corp. | | | 1,468,711 | | | 0.5 | |
| 71,800 | | | Nippon Yusen KK | | | 2,094,903 | | | 0.7 | |
| 19,100 | | | Nitto Denko Corp. | | | 1,514,952 | | | 0.5 | |
| 17,600 | | | Nomura Real Estate Holdings, Inc. | | | 443,052 | | | 0.1 | |
| 115,000 | | | Ono Pharmaceutical Co. Ltd. | | | 1,571,282 | | | 0.5 | |
| 6,700 | | | Oracle Corp. Japan | | | 462,330 | | | 0.2 | |
| 88,400 | | | Osaka Gas Co. Ltd. | | | 1,953,668 | | | 0.6 | |
| 42,800 | | | Otsuka Holdings Co. Ltd. | | | 1,808,161 | | | 0.6 | |
| 32,300 | | | Secom Co. Ltd. | | | 1,912,936 | | | 0.6 | |
| 62,500 | | | Sekisui Chemical Co. Ltd. | | | 867,663 | | | 0.3 | |
| 59,600 | | | Sekisui House Ltd. | | | 1,324,622 | | | 0.4 | |
| 242,000 | | | SoftBank Corp. | | | 2,959,664 | | | 1.0 | |
| 111,200 | | | Sompo Holdings, Inc. | | | 2,382,315 | | | 0.8 | |
| 100,400 | | | Subaru Corp. | | | 2,135,042 | | | 0.7 | |
| 69,100 | | | Sumitomo Corp. | | | 1,735,926 | | | 0.6 | |
| 83,500 | | | Takeda Pharmaceutical Co. Ltd. | | | 2,165,844 | | | 0.7 | |
| 46,900 | | | TOPPAN Holdings, Inc. | | | 1,301,028 | | | 0.4 | |
| 115,400 | | | Toray Industries, Inc. | | | 547,313 | | | 0.2 | |
| 15,600 | | | Trend Micro, Inc./Japan | | | 635,869 | | | 0.2 | |
| 101,500 | | | West Japan Railway Co. | | | 1,893,938 | | | 0.6 | |
| | | | | | | 70,994,246 | | | 23.1 | |
| | | | Jordan: 0.4% | | | | | | | |
| 46,690 | | | Hikma Pharmaceuticals PLC | | | 1,112,432 | | | 0.4 | |
| | | | | | | | | | | |
| | | | Netherlands: 4.6% | | | | | | | |
| 8,199 | | | Akzo Nobel NV | | | 499,724 | | | 0.2 | |
| 43,938 | | | ASR Nederland NV | | | 2,091,829 | | | 0.7 | |
| 101,072 | | | ING Groep NV | | | 1,736,687 | | | 0.6 | |
| 89,416 | | | Koninklijke Ahold Delhaize NV | | | 2,631,254 | | | 0.8 | |
| 600,124 | | | Koninklijke KPN NV | | | 2,300,117 | | | 0.7 | |
| 47,532 | | | NN Group NV | | | 2,209,215 | | | 0.7 | |
| 34,740 | | | OCI NV | | | 848,467 | | | 0.3 | |
| 10,583 | | | Wolters Kluwer NV | | | 1,747,659 | | | 0.6 | |
| | | | | | | 14,064,952 | | | 4.6 | |
| | | | New Zealand: 0.3% | | | | | | | |
| 311,583 | | | Spark New Zealand Ltd. | | | 789,505 | | | 0.3 | |
| | | | | | | | | | | |
| | | | Norway: 3.0% | | | | | | | |
| 79,894 | | | Aker BP ASA | | | 2,041,506 | | | 0.7 | |
| 116,360 | | | DNB Bank ASA | | | 2,283,086 | | | 0.7 | |
| 19,446 | | | Kongsberg Gruppen ASA | | | 1,583,550 | | | 0.5 | |
| 169,707 | | | Orkla ASA | | | 1,376,182 | | | 0.5 | |
| 163,169 | | | Telenor ASA | | | 1,859,854 | | | 0.6 | |
| | | | | | | 9,144,178 | | | 3.0 | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | | | | |
| | | | Singapore: 2.2% | | | | | | | |
| 73,600 | | | DBS Group Holdings Ltd. | | $ | 1,938,536 | | | 0.6 | |
| 301,700 | | | Oversea-Chinese Banking Corp. Ltd. | | | 3,203,869 | | | 1.0 | |
| 553,400 | | | Singapore Technologies Engineering Ltd. | | | 1,762,217 | | | 0.6 | |
| | | | | | | 6,904,622 | | | 2.2 | |
| | | | Spain: 3.7% | | | | | | | |
| 47,380 | | | ACS Actividades de Construccion y Servicios SA | | | 2,046,436 | | | 0.7 | |
| 1,854 (2) | | | Aena SME SA | | | 375,430 | | | 0.1 | |
| 440,414 | | | CaixaBank SA | | | 2,338,838 | | | 0.8 | |
| 350 | | | Ferrovial SE | | | 13,597 | | | 0.0 | |
| 143,285 | | | Iberdrola SA | | | 1,859,112 | | | 0.6 | |
| 6,854 | | | Industria de Diseno Textil SA | | | 340,119 | | | 0.1 | |
| 114,563 (3) | | | Red Electrica Corp. SA | | | 2,003,297 | | | 0.6 | |
| 104,396 | | | Repsol SA | | | 1,655,583 | | | 0.5 | |
| 189,081 (3) | | | Telefonica SA | | | 800,993 | | | 0.3 | |
| | | | | | | 11,433,405 | | | 3.7 | |
| | | | Switzerland: 9.7% | | | | | | | |
| 10,323 | | | Baloise Holding AG, Reg | | | 1,819,977 | | | 0.6 | |
| 7,776 | | | Banque Cantonale Vaudoise | | | 825,054 | | | 0.3 | |
| 5,533 | | | BKW AG | | | 883,159 | | | 0.3 | |
| 52,177 | | | Coca-Cola HBC AG - Class DI | | | 1,775,795 | | | 0.6 | |
| 113 | | | Givaudan SA, Reg | | | 535,238 | | | 0.2 | |
| 5,657 | | | Helvetia Holding AG | | | 764,599 | | | 0.2 | |
| 39,267 | | | Holcim AG | | | 3,470,891 | | | 1.1 | |
| 88,111 | | | Novartis AG, Reg | | | 9,381,325 | | | 3.0 | |
| 2,200 | | | Roche Holding AG | | | 609,529 | | | 0.2 | |
| 15,258 | | | Swiss Prime Site AG | | | 1,444,857 | | | 0.5 | |
| 24,428 | | | Swiss Re AG | | | 3,028,510 | | | 1.0 | |
| 984 | | | Swisscom AG, Reg | | | 553,319 | | | 0.2 | |
| 8,605 | | | Zurich Insurance Group AG | | | 4,583,849 | | | 1.5 | |
| | | | | | | 29,676,102 | | | 9.7 | |
| | | | United Kingdom: 14.8% | | | | | | | |
| 388,745 | | | Aviva PLC | | | 2,341,520 | | | 0.8 | |
| 94,223 | | | BAE Systems PLC | | | 1,569,432 | | | 0.5 | |
| 895,300 | | | BP PLC | | | 5,390,379 | | | 1.8 | |
| 131,821 | | | British American Tobacco PLC | | | 4,049,482 | | | 1.3 | |
| 288,266 | | | Centrica PLC | | | 491,346 | | | 0.2 | |
| 8,032 | | | Coca-Cola European Partners PLC - USD | | | 585,292 | | | 0.2 | |
| 59,410 | | | Compass Group PLC | | | 1,618,520 | | | 0.5 | |
| 80,747 | | | GSK PLC | | | 1,553,099 | | | 0.5 | |
| 884,751 | | | HSBC Holdings PLC | | | 7,637,148 | | | 2.5 | |
| 96,023 | | | Imperial Brands PLC | | | 2,457,106 | | | 0.8 | |
| 212,531 | | | M&G PLC | | | 546,377 | | | 0.2 | |
| 207,191 | | | National Grid PLC | | | 2,313,514 | | | 0.7 | |
| 160,071 | | | Pearson PLC | | | 1,998,828 | | | 0.6 | |
| 13,675 | | | Reckitt Benckiser Group PLC | | | 739,804 | | | 0.2 | |
| 40,374 | | | RELX PLC - GBP | | | 1,849,884 | | | 0.6 | |
| 125,813 | | | Sage Group PLC | | | 1,723,670 | | | 0.6 | |
| 178,510 | | | Shell PLC | | | 6,402,770 | | | 2.1 | |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | | | | |
| | | | United Kingdom (continued) | | | | | | | |
| 67,719 | | | Smiths Group PLC | | $ | 1,457,077 | | | 0.5 | |
| 187,875 | | | Tesco PLC | | | 725,715 | | | 0.2 | |
| | | | | | | 45,450,963 | | | 14.8 | |
| | | | Total Common Stock
(Cost $269,213,762) | | | 298,274,531 | | | 97.2 | |
| | | | | | | | | | | |
| EXCHANGE-TRADED FUNDS: 1.4% | | | | | | | |
| 83,260 | | | iShares MSCI EAFE Value ETF | | | 4,416,110 | | | 1.4 | |
| | | | Total Exchange-Traded Funds
(Cost $4,500,203) | | | 4,416,110 | | | 1.4 | |
| | | | | | | | | | | |
| PREFERRED STOCK: 0.9% | | | | | | | |
| | | | Germany: 0.9% | | | | | | | |
| 30,619 | | | Henkel AG & Co. KGaA | | | 2,726,220 | | | 0.9 | |
| | | | Total Preferred Stock
(Cost $2,535,685) | | | 2,726,220 | | | 0.9 | |
| | | | Total Long-Term Investments
(Cost $276,249,650) | | | 305,416,861 | | | 99.5 | |
| | | | | | | | | | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: 2.6% | | | | | | | |
| | | | Repurchase Agreements: 2.0% | | | | |
| 597,742 (4) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $598,010, collateralized by various U.S. Government/ U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $609,697, due 10/01/27-01/01/57) | | | 597,742 | | | 0.2 | |
| 1,880,748 (4) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,881,587, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,918,363, due 08/08/24-04/20/74) | | | 1,880,748 | | | 0.6 | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | | | | |
| | | | Repurchase Agreements (continued) | | | | |
| 1,880,748 (4) | | | CF Secured LLC, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,881,587, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.500%, Market Value plus accrued interest $1,918,363, due 04/30/27-04/20/72) | | $ | 1,880,748 | | | 0.6 | |
| 1,800,000 (4) | | | State of Wisconsin Investment Board, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $1,800,806, collateralized by various U.S. Government Securities, 0.125%-3.625%, Market Value plus accrued interest $1,832,490, due 10/15/25-02/15/53) | | | 1,800,000 | | | 0.6 | |
| | | | Total Repurchase Agreements
(Cost $6,159,238) | | | 6,159,238 | | | 2.0 | |
| | | | | | | | | | | |
| | | | Time Deposits: 0.6% | | | | | | | |
| 180,000 (4) | | | BNP Paribas SA, 5.290%, 07/01/2024 | | | 180,000 | | | 0.1 | |
| 180,000 (4) | | | Canadian Imperial Bank of Commerce, 5.310%, 07/01/2024 | | | 180,000 | | | 0.1 | |
| 130,000 (4) | | | Credit Agricole Corporate and Investment Bank, 5.300%, 07/01/2024 | | | 130,000 | | | 0.0 | |
| 170,000 (4) | | | DZ Bank AG, 5.300%, 07/01/2024 | | | 170,000 | | | 0.0 | |
| 180,000 (4) | | | HSBC Bank PLC, 5.380%, 07/01/2024 | | | 180,000 | | | 0.1 | |
| 160,000 (4) | | | Landesbank Hessen Thueringen Girozentrale, 5.320%, 07/01/2024 | | | 160,000 | | | 0.0 | |
| 180,000 (4) | | | Mizuho Bank Ltd., 5.320%, 07/01/2024 | | | 180,000 | | | 0.1 | |
| 180,000 (4) | | | Royal Bank of Canada, 5.320%, 07/01/2024 | | | 180,000 | | | 0.1 | |
| 180,000 (4) | | | Skandinaviska Enskilda Banken AB, 5.310%, 07/01/2024 | | | 180,000 | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | | | | |
| | | | Time Deposits (continued) | | | | | | | |
| 170,000 (4) | | | Svenska Handelsbanken AB, 5.310%, 07/01/2024 | | $ | 170,000 | | | 0.0 | |
| | | | Total Time Deposits
(Cost $1,710,000) | | | 1,710,000 | | | 0.6 | |
| | | | | | | | | | | |
| | | | Total Short-Term Investments
(Cost $7,869,238) | | | 7,869,238 | | | 2.6 | |
| | | | Total Investments in Securities
(Cost $284,118,888) | | $ | 313,286,099 | | | 102.1 | |
| | | | Liabilities in Excess of Other Assets | | | (6,456,806 | ) | | (2.1) | |
| | | | Net Assets | | $ | 306,829,293 | | | 100.0 | |
| † | 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) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Australia | | $ | — | | | $ | 24,961,517 | | | $ | — | | | $ | 24,961,517 | |
| Austria | | | 1,752,241 | | | | 4,406,115 | | | | — | | | | 6,158,356 | |
| Denmark | | | — | | | | 5,570,029 | | | | — | | | | 5,570,029 | |
| Finland | | | — | | | | 1,243,149 | | | | — | | | | 1,243,149 | |
| France | | | — | | | | 23,363,298 | | | | — | | | | 23,363,298 | |
| Germany | | | — | | | | 19,253,548 | | | | — | | | | 19,253,548 | |
| Hong Kong | | | 844,900 | | | | 5,183,063 | | | | — | | | | 6,027,963 | |
| Ireland | | | — | | | | 3,273,712 | | | | — | | | | 3,273,712 | |
| Israel | | | — | | | | 2,249,596 | | | | — | | | | 2,249,596 | |
| Italy | | | — | | | | 16,602,958 | | | | — | | | | 16,602,958 | |
| Japan | | | — | | | | 70,994,246 | | | | — | | | | 70,994,246 | |
| Jordan | | | — | | | | 1,112,432 | | | | — | | | | 1,112,432 | |
| Netherlands | | | — | | | | 14,064,952 | | | | — | | | | 14,064,952 | |
| New Zealand | | | 789,505 | | | | — | | | | — | | | | 789,505 | |
| Norway | | | 1,859,854 | | | | 7,284,324 | | | | — | | | | 9,144,178 | |
| Singapore | | | — | | | | 6,904,622 | | | | — | | | | 6,904,622 | |
| Spain | | | — | | | | 11,433,405 | | | | — | | | | 11,433,405 | |
| Switzerland | | | — | | | | 29,676,102 | | | | — | | | | 29,676,102 | |
| United Kingdom | | | 585,292 | | | | 44,865,671 | | | | — | | | | 45,450,963 | |
| Total Common Stock | | | 5,831,792 | | | | 292,442,739 | | | | — | | | | 298,274,531 | |
| Exchange-Traded Funds | | | 4,416,110 | | | | — | | | | — | | | | 4,416,110 | |
| Preferred Stock | | | — | | | | 2,726,220 | | | | — | | | | 2,726,220 | |
| Short-Term Investments | | | — | | | | 7,869,238 | | | | — | | | | 7,869,238 | |
| Total Investments, at fair value | | $ | 10,247,902 | | | $ | 303,038,197 | | | $ | — | | | $ | 313,286,099 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts | |
| Foreign exchange contracts | | $ | 3,290 | |
| Total | | $ | 3,290 | |
See Accompanying Notes to Financial Statements
Voya International High
Dividend Low Volatility Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $286,920,475. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 36,201,754 | |
| Gross Unrealized Depreciation | | | (9,552,647 | ) |
| Net Unrealized Appreciation | | $ | 26,649,107 | |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: 97.6% | | | | | | |
| | | | Communication Services: 2.6% | | | | | | | | |
| 45,986 | | | BCE, Inc. | | $ | 1,489,448 | | | | 0.5 | |
| 2,950 (1) | | | Cable One, Inc. | | | 1,044,300 | | | | 0.4 | |
| 5,590 | | | Electronic Arts, Inc. | | | 778,855 | | | | 0.3 | |
| 131,988 | | | Entravision Communications Corp. - Class A | | | 267,936 | | | | 0.1 | |
| 30,602 | | | Fox Corp. - Class B | | | 979,876 | | | | 0.3 | |
| 81,275 | | | Interpublic Group of Cos., Inc. | | | 2,364,290 | | | | 0.8 | |
| 5,780 | | | Omnicom Group, Inc. | | | 518,466 | | | | 0.2 | |
| 7,612 | | | Townsquare Media, Inc. - Class A | | | 83,427 | | | | 0.0 | |
| | | | | | | 7,526,598 | | | | 2.6 | |
| | | | | | | | | | | | |
| | | | Consumer Discretionary: 6.5% | | | | | | | | |
| 42,756 (2) | | | Accel Entertainment, Inc. | | | 438,677 | | | | 0.2 | |
| 14,328 (2) | | | Aptiv PLC | | | 1,008,978 | | | | 0.3 | |
| 23,553 (2) | | | Atmus Filtration Technologies, Inc. | | | 677,855 | | | | 0.2 | |
| 34,515 | | | BorgWarner, Inc. | | | 1,112,764 | | | | 0.4 | |
| 13,257 | | | Boyd Gaming Corp. | | | 730,461 | | | | 0.3 | |
| 12,380 | | | BRP, Inc. | | | 792,691 | | | | 0.3 | |
| 14,957 | | | Brunswick Corp. | | | 1,088,421 | | | | 0.4 | |
| 1,201 (2) | | | Cavco Industries, Inc. | | | 415,750 | | | | 0.1 | |
| 7,447 | | | Darden Restaurants, Inc. | | | 1,126,880 | | | | 0.4 | |
| 15,445 (2) | | | Dave & Buster’s Entertainment, Inc. | | | 614,865 | | | | 0.2 | |
| 23,263 (2) | | | Dollar Tree, Inc. | | | 2,483,791 | | | | 0.8 | |
| 32,100 (2) | | | Everi Holdings, Inc. | | | 269,640 | | | | 0.1 | |
| 2,573 (2) | | | Malibu Boats, Inc. - Class A | | | 90,158 | | | | 0.0 | |
| 24,712 (2) | | | MarineMax, Inc. | | | 799,927 | | | | 0.3 | |
| 11,194 (2) | | | Mohawk Industries, Inc. | | | 1,271,526 | | | | 0.4 | |
| 20,788 (1)(2) | | | OneWater Marine, Inc. - Class A | | | 573,125 | | | | 0.2 | |
| 3,834 | | | Penske Automotive Group, Inc. | | | 571,343 | | | | 0.2 | |
| 3,323 (2) | | | Red Robin Gourmet Burgers, Inc. | | | 25,155 | | | | 0.0 | |
| 17,976 (2) | | | Skyline Champion Corp. | | | 1,217,874 | | | | 0.4 | |
| 7,835 | | | Sodexo SA | | | 705,785 | | | | 0.2 | |
| 70,412 (2) | | | Solo Brands, Inc. - Class A | | | 160,539 | | | | 0.1 | |
| 40,839 | | | Tapestry, Inc. | | | 1,747,501 | | | | 0.6 | |
| 40,834 (2) | | | Topgolf Callaway Brands Corp. | | | 624,760 | | | | 0.2 | |
| 4,665 (2) | | | Visteon Corp. | | | 497,756 | | | | 0.2 | |
| | | | | | | 19,046,222 | | | | 6.5 | |
| | | | | | | | | | | | |
| | | | Consumer Staples: 7.5% | | | | | | | | |
| 148,908 | | | Conagra Brands, Inc. | | | 4,231,966 | | | | 1.4 | |
| 39,685 | | | Edgewell Personal Care Co. | | | 1,594,940 | | | | 0.5 | |
| 39,316 | | | General Mills, Inc. | | | 2,487,130 | | | | 0.9 | |
| 16,555 | | | Heineken NV | | | 1,601,631 | | | | 0.6 | |
| 122,156 | | | Kenvue, Inc. | | | 2,220,796 | | | | 0.8 | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | |
| | | | Consumer Staples: (continued) | | | | | | | | |
| 24,109 | | | Kimberly-Clark Corp. | | $ | 3,331,864 | | | | 1.1 | |
| 127,776 | | | Koninklijke Ahold Delhaize NV | | | 3,760,078 | | | | 1.3 | |
| 8,807 | | | Pernod Ricard SA | | | 1,201,624 | | | | 0.4 | |
| 14,885 | | | Spectrum Brands Holdings, Inc. | | | 1,279,068 | | | | 0.4 | |
| 10,698 | | | Turning Point Brands, Inc. | | | 343,299 | | | | 0.1 | |
| | | | | | | 22,052,396 | | | | 7.5 | |
| | | | | | | | | | | | |
| | | | Energy: 8.0% | | | | | | | | |
| 76,255 | | | Baker Hughes Co. | | | 2,681,888 | | | | 0.9 | |
| 26,115 (1) | | | Cactus, Inc. - Class A | | | 1,377,305 | | | | 0.5 | |
| 67,869 | | | ChampionX Corp. | | | 2,253,930 | | | | 0.8 | |
| 8,850 | | | Chord Energy Corp. | | | 1,483,968 | | | | 0.5 | |
| 54,354 | | | Coterra Energy, Inc. | | | 1,449,621 | | | | 0.5 | |
| 73,735 | | | Crescent Energy Co. - Class A | | | 873,760 | | | | 0.3 | |
| 140,577 (3) | | | Enterprise Products Partners L.P. | | | 4,073,921 | | | | 1.4 | |
| 43,548 | | | EQT Corp. | | | 1,610,405 | | | | 0.5 | |
| 25,453 | | | Mach Natural Resources L.P. | | | 484,116 | | | | 0.2 | |
| 75,352 (1) | | | Magnolia Oil & Gas Corp. - Class A | | | 1,909,420 | | | | 0.6 | |
| 45,942 | | | Northern Oil and Gas, Inc. | | | 1,707,664 | | | | 0.6 | |
| 36,327 | | | Occidental Petroleum Corp. | | | 2,289,691 | | | | 0.8 | |
| 54,102 | | | Permian Resources Corp. | | | 873,747 | | | | 0.3 | |
| 12,332 | | | TXO Partners L.P. | | | 248,613 | | | | 0.1 | |
| | | | | | | 23,318,049 | | | | 8.0 | |
| | | | | | | | | | | | |
| | | | Financials: 19.7% | | | | | | | | |
| 10,891 | | | Aflac, Inc. | | | 972,675 | | | | 0.3 | |
| 22,905 (1)(3) | | | AllianceBernstein Holding L.P. | | | 773,960 | | | | 0.3 | |
| 21,634 | | | Allstate Corp. | | | 3,454,084 | | | | 1.2 | |
| 18,549 (1) | | | A-Mark Precious Metals, Inc. | | | 600,431 | | | | 0.2 | |
| 20,205 | | | Ameris Bancorp | | | 1,017,322 | | | | 0.3 | |
| 27,866 | | | Axis Capital Holdings Ltd. | | | 1,968,733 | | | | 0.7 | |
| 6,334 (2) | | | Axos Financial, Inc. | | | 361,988 | | | | 0.1 | |
| 29,759 | | | Banc of California, Inc. | | | 380,320 | | | | 0.1 | |
| 76,343 | | | Bank of New York Mellon Corp. | | | 4,572,182 | | | | 1.6 | |
| 9,357 | | | BankUnited, Inc. | | | 273,879 | | | | 0.1 | |
| 6,035 (2) | | | Bowhead Specialty Holdings, Inc. | | | 152,927 | | | | 0.0 | |
| 55,358 | | | Columbia Banking System, Inc. | | | 1,101,071 | | | | 0.4 | |
| 35,094 | | | Commerce Bancshares, Inc. | | | 1,957,543 | | | | 0.7 | |
| 69,987 | | | Compass Diversified Holdings | | | 1,532,015 | | | | 0.5 | |
| 68,046 | | | CVB Financial Corp. | | | 1,173,113 | | | | 0.4 | |
| 153,202 | | | F.N.B. Corp. | | | 2,095,803 | | | | 0.7 | |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Financials: (continued) | | | | | | | | |
| 31,224 | | | Fidelis Insurance Holdings Ltd. | | $ | 509,263 | | | | 0.2 | |
| 55,124 | | | First BanCorp/Puerto Rico | | | 1,008,218 | | | | 0.3 | |
| 52,989 | | | First Hawaiian, Inc. | | | 1,100,052 | | | | 0.4 | |
| 28,175 | | | First Interstate BancSystem, Inc. - Class A | | | 782,420 | | | | 0.3 | |
| 11,351 | | | First Merchants Corp. | | | 377,875 | | | | 0.1 | |
| 26,901 (2) | | | Hamilton Insurance Group Ltd. - Class B | | | 447,902 | | | | 0.2 | |
| 13,367 | | | Hanover Insurance Group, Inc. | | | 1,676,756 | | | | 0.6 | |
| 66,404 | | | Home BancShares, Inc. | | | 1,591,040 | | | | 0.5 | |
| 45,756 | | | Northern Trust Corp. | | | 3,842,589 | | | | 1.3 | |
| 138,330 | | | Old National Bancorp | | | 2,377,893 | | | | 0.8 | |
| 41,395 | | | Pacific Premier Bancorp, Inc. | | | 950,843 | | | | 0.3 | |
| 25,000 | | | Patria Investments Ltd. - Class A | | | 301,500 | | | | 0.1 | |
| 7,797 | | | PNC Financial Services Group, Inc. | | | 1,212,278 | | | | 0.4 | |
| 9,413 | | | Popular, Inc. | | | 832,392 | | | | 0.3 | |
| 8,485 | | | Provident Financial Services, Inc. | | | 121,760 | | | | 0.0 | |
| 9,103 | | | Reinsurance Group of America, Inc. | | | 1,868,573 | | | | 0.6 | |
| 21,306 | | | SouthState Corp. | | | 1,628,205 | | | | 0.6 | |
| 3,541 (2) | | | StoneX Group, Inc. | | | 266,673 | | | | 0.1 | |
| 21,639 | | | T. Rowe Price Group, Inc. | | | 2,495,193 | | | | 0.8 | |
| 79,887 | | | Truist Financial Corp. | | | 3,103,610 | | | | 1.1 | |
| 13,626 (2) | | | UMB Financial Corp. | | | 1,136,681 | | | | 0.4 | |
| 32,672 | | | US Bancorp | | | 1,297,078 | | | | 0.4 | |
| 24,678 | | | Valley National Bancorp | | | 172,252 | | | | 0.1 | |
| 32,629 | | | Webster Financial Corp. | | | 1,422,298 | | | | 0.5 | |
| 24,531 | | | Westamerica BanCorp | | | 1,190,489 | | | | 0.4 | |
| 14,336 | | | Willis Towers Watson PLC | | | 3,758,039 | | | | 1.3 | |
| | | | | | | 57,859,918 | | | | 19.7 | |
| | | | | | | | | | | | |
| | | | Health Care: 11.1% | | | | | | | | |
| 2,466 | | | AmerisourceBergen Corp. | | | 555,590 | | | | 0.2 | |
| 5,024 (2) | | | AMN Healthcare Services, Inc. | | | 257,379 | | | | 0.1 | |
| 8,118 | | | Becton Dickinson and Co. | | | 1,897,258 | | | | 0.6 | |
| 26,336 | | | Cardinal Health, Inc. | | | 2,589,355 | | | | 0.9 | |
| 22,632 (2) | | | Centene Corp. | | | 1,500,502 | | | | 0.5 | |
| 38,373 | | | DENTSPLY SIRONA, Inc. | | | 955,871 | | | | 0.3 | |
| 40,272 | | | Embecta Corp. | | | 503,400 | | | | 0.2 | |
| 19,524 (2) | | | Enovis Corp. | | | 882,485 | | | | 0.3 | |
| 101,614 (2) | | | Envista Holdings Corp. | | | 1,689,841 | | | | 0.6 | |
| 15,193 | | | GE HealthCare Technologies, Inc. | | | 1,183,838 | | | | 0.4 | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Health Care: (continued) | | | | | | | | |
| 60,008 (2) | | | Henry Schein, Inc. | | $ | 3,846,513 | | | | 1.3 | | |
| 24,496 (2) | | | Hologic, Inc. | | | 1,818,828 | | | | 0.6 | | |
| 10,247 (2) | | | Labcorp Holdings, Inc. | | | 2,085,367 | | | | 0.7 | | |
| 27,377 | | | Quest Diagnostics, Inc. | | | 3,747,364 | | | | 1.3 | | |
| 15,148 | | | Universal Health Services, Inc. - Class B | | | 2,801,320 | | | | 1.0 | | |
| 56,607 | | | Zimmer Biomet Holdings, Inc. | | | 6,143,558 | | | | 2.1 | | |
| | | | | | | 32,458,469 | | | | 11.1 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 15.1% | | | | | | | | |
| 4,627 | | | Atkore, Inc. | | | 624,321 | | | | 0.2 | | |
| 6,050 | | | Barrett Business Services, Inc. | | | 198,258 | | | | 0.1 | | |
| 40,676 (2) | | | Beacon Roofing Supply, Inc. | | | 3,681,178 | | | | 1.3 | | |
| 18,560 | | | Brink’s Co. | | | 1,900,544 | | | | 0.6 | | |
| 62,114 | | | Bunzl PLC | | | 2,359,956 | | | | 0.8 | | |
| 10,965 | | | Cie de Saint-Gobain | | | 852,794 | | | | 0.3 | | |
| 4,221 | | | Cummins, Inc. | | | 1,168,922 | | | | 0.4 | | |
| 26,267 | | | Deluxe Corp. | | | 589,957 | | | | 0.2 | | |
| 79,057 (2) | | | DIRTT Environmental Solutions | | | 34,334 | | | | 0.0 | | |
| 3,045 | | | Dover Corp. | | | 549,470 | | | | 0.2 | | |
| 8,638 (2) | | | DXP Enterprises, Inc. | | | 395,966 | | | | 0.1 | | |
| 28,187 | | | Emerson Electric Co. | | | 3,105,080 | | | | 1.1 | | |
| 69,911 (2) | | | Gates Industrial Corp. PLC | | | 1,105,293 | | | | 0.4 | | |
| 18,756 (2) | | | GMS, Inc. | | | 1,511,921 | | | | 0.5 | | |
| 9,250 | | | Heartland Express, Inc. | | | 114,052 | | | | 0.0 | | |
| 73,081 (2) | | | Hillman Solutions Corp. | | | 646,767 | | | | 0.2 | | |
| 7,226 | | | Huntington Ingalls Industries, Inc. | | | 1,779,981 | | | | 0.6 | | |
| 16,359 (2) | | | IBEX Holdings Ltd. | | | 264,689 | | | | 0.1 | | |
| 19,357 | | | Johnson Controls International PLC | | | 1,286,660 | | | | 0.4 | | |
| 1,446 | | | Karat Packaging, Inc. | | | 42,773 | | | | 0.0 | | |
| 17,287 | | | Korn Ferry | | | 1,160,649 | | | | 0.4 | | |
| 18,713 | | | Loomis AB | | | 485,823 | | | | 0.2 | | |
| 7,739 | | | Luxfer Holdings PLC | | | 89,695 | | | | 0.0 | | |
| 28,665 | | | MSC Industrial Direct Co., Inc. - Class A | | | 2,273,421 | | | | 0.8 | | |
| 16,907 | | | Norfolk Southern Corp. | | | 3,629,764 | | | | 1.2 | | |
| 5,951 (2) | | | NV5 Global, Inc. | | | 553,264 | | | | 0.2 | | |
| 20,378 | | | Oshkosh Corp. | | | 2,204,900 | | | | 0.8 | | |
| 15,699 (2) | | | Proficient Auto Logistics, Inc. | | | 252,126 | | | | 0.1 | | |
| 5,087 | | | Republic Services, Inc. | | | 988,608 | | | | 0.3 | | |
| 4,678 | | | Science Applications International Corp. | | | 549,899 | | | | 0.2 | | |
| 13,272 | | | Sensata Technologies Holding PLC | | | 496,240 | | | | 0.2 | | |
| 86,133 | | | Southwest Airlines Co. | | | 2,464,265 | | | | 0.8 | | |
| 18,086 (1) | | | Tecnoglass, Inc. | | | 907,555 | | | | 0.3 | | |
| 37,709 | | | Timken Co. | | | 3,021,622 | | | | 1.0 | | |
| 14,489 (2) | | | Titan Machinery, Inc. | | | 230,375 | | | | 0.1 | | |
| 9,429 | | | UL Solutions, Inc. - Class A | | | 397,810 | | | | 0.1 | | |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Industrials: (continued) | | | | | | | | |
| 7,625 (2) | | | Verra Mobility Corp. | | $ | 207,400 | | | | 0.1 | | |
| 20,878 | | | Vinci SA | | | 2,200,634 | | | | 0.8 | | |
| | | | | | | 44,326,966 | | | | 15.1 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 8.3% | | | | | | | | |
| 29,622 | | | Amdocs Ltd. | | | 2,337,768 | | | | 0.8 | | |
| 7,630 | | | Amkor Technology, Inc. | | | 305,353 | | | | 0.1 | | |
| 28,442 | | | Avnet, Inc. | | | 1,464,479 | | | | 0.5 | | |
| 4,839 (2) | | | Axcelis Technologies, Inc. | | | 688,058 | | | | 0.2 | | |
| 3,783 | | | Belden, Inc. | | | 354,845 | | | | 0.1 | | |
| 23,363 | | | Cognizant Technology Solutions Corp. - Class A | | | 1,588,684 | | | | 0.6 | | |
| 24,320 (2) | | | Coherent Corp. | | | 1,762,227 | | | | 0.6 | | |
| 12,464 (2) | | | Euronet Worldwide, Inc. | | | 1,290,024 | | | | 0.5 | | |
| 54,883 | | | EVERTEC, Inc. | | | 1,824,860 | | | | 0.6 | | |
| 14,832 (2) | | | F5, Inc. | | | 2,554,515 | | | | 0.9 | | |
| 69,441 | | | HP, Inc. | | | 2,431,824 | | | | 0.8 | | |
| 41,963 | | | Juniper Networks, Inc. | | | 1,529,971 | | | | 0.5 | | |
| 24,336 | | | Kulicke & Soffa Industries, Inc. | | | 1,197,088 | | | | 0.4 | | |
| 14,004 (2) | | | ON Semiconductor Corp. | | | 959,974 | | | | 0.3 | | |
| 32,253 (2) | | | Repay Holdings Corp. | | | 340,592 | | | | 0.1 | | |
| 12,052 | | | TE Connectivity Ltd. | | | 1,812,982 | | | | 0.6 | | |
| 42,641 (2) | | | Teradata Corp. | | | 1,473,673 | | | | 0.5 | | |
| 3,677 | | | Teradyne, Inc. | | | 545,262 | | | | 0.2 | | |
| | | | | | | 24,462,179 | | | | 8.3 | | |
| | | | | | | | | | | | | |
| | | | Materials: 4.2% | | | | | | | | |
| 27,438 | | | Akzo Nobel NV | | | 1,672,328 | | | | 0.6 | | |
| 62,454 | | | Amcor PLC | | | 610,800 | | | | 0.2 | | |
| 14,043 | | | CRH PLC US | | | 1,052,944 | | | | 0.4 | | |
| 138,390 | | | Graphic Packaging Holding Co. | | | 3,627,202 | | | | 1.2 | | |
| 9,159 (2) | | | Ingevity Corp. | | | 400,340 | | | | 0.1 | | |
| 8,677 | | | Minerals Technologies, Inc. | | | 721,579 | | | | 0.2 | | |
| 11,404 | | | Packaging Corp. of America | | | 2,081,914 | | | | 0.7 | | |
| 50,136 | | | Pactiv Evergreen, Inc. | | | 567,540 | | | | 0.2 | | |
| 32,606 | | | Sonoco Products Co. | | | 1,653,776 | | | | 0.6 | | |
| | | | | | | 12,388,423 | | | | 4.2 | | |
| | | | | | | | | | | | | |
| | | | Real Estate: 6.0% | | | | | | | | |
| 25,832 | | | CareTrust REIT, Inc. | | | 648,383 | | | | 0.2 | | |
| 31,153 | | | Equity Residential | | | 2,160,149 | | | | 0.7 | | |
| 2,798 | | | Essex Property Trust, Inc. | | | 761,616 | | | | 0.3 | | |
| 131,902 | | | Healthpeak Properties, Inc. | | | 2,585,279 | | | | 0.9 | | |
| 7,305 | | | Public Storage | | | 2,101,283 | | | | 0.7 | | |
| 58,228 | | | Realty Income Corp. | | | 3,075,603 | | | | 1.0 | | |
| 32,080 | | | Regency Centers Corp. | | | 1,995,376 | | | | 0.7 | | |
| 11,195 | | | Ryman Hospitality Properties, Inc. | | | 1,117,933 | | | | 0.4 | | |
| 22,508 | | | Terreno Realty Corp. | | | 1,332,023 | | | | 0.5 | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Real Estate: (continued) | | | | | | | | |
| 36,944 | | | UMH Properties, Inc. | | $ | 590,735 | | | | 0.2 | | |
| 43,696 | | | VICI Properties, Inc. | | | 1,251,453 | | | | 0.4 | | |
| | | | | | | 17,619,833 | | | | 6.0 | | |
| | | | | | | | | | | | |
| | | | Utilities: 8.6% | | | | | | | | |
| 1,368 | | | ALLETE, Inc. | | | 85,295 | | | | 0.0 | | |
| 26,936 | | | CMS Energy Corp. | | | 1,603,500 | | | | 0.5 | | |
| 30,180 | | | Duke Energy Corp. | | | 3,024,941 | | | | 1.0 | | |
| 52,143 | | | Edison International | | | 3,744,389 | | | | 1.3 | | |
| 43,976 | | | Evergy, Inc. | | | 2,329,409 | | | | 0.8 | | |
| 39,176 | | | Eversource Energy | | | 2,221,671 | | | | 0.8 | | |
| 455 | | | Luxfer Holdings PLC-ADR | | | 5,273 | | | | 0.0 | | |
| 66,636 | | | NorthWestern Corp. | | | 3,337,131 | | | | 1.1 | | |
| 25,459 | | | ONE Gas, Inc. | | | 1,625,557 | | | | 0.6 | | |
| 14,630 | | | Pinnacle West Capital Corp. | | | 1,117,439 | | | | 0.4 | | |
| 10,720 | | | Southwest Gas Holdings, Inc. | | | 754,474 | | | | 0.3 | | |
| 31,380 | | | Spire, Inc. | | | 1,905,707 | | | | 0.7 | | |
| 31,213 | | | WEC Energy Group, Inc. | | | 2,448,972 | | | | 0.8 | | |
| 18,987 | | | Xcel Energy, Inc. | | | 1,014,096 | | | | 0.3 | | |
| | | | | | | 25,217,854 | | | | 8.6 | | |
| | | | | | | | | | | | |
| | | | Total Common Stock (Cost $284,005,913) | | | 286,276,907 | | | | 97.6 | | |
| | | | | | | | | | | | |
| PREFERRED STOCK: 0.5% | | | | | | | |
| | | | Consumer Staples: 0.5% | | | | | | | | |
| 17,475 | | | Henkel AG & Co. KGaA | | | 1,555,919 | | | | 0.5 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | Total Preferred Stock
(Cost $1,192,241) | | | 1,555,919 | | | | 0.5 | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $285,198,154) | | | 287,832,826 | | | | 98.1 | | |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: 3.7% | | | | | | |
| | | | Repurchase Agreements: 2.2% | | | | | | | | |
| 336,435 (4) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $336,586, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $343,164, due 10/01/27-01/01/57) | | | 336,435 | | | | 0.1 | | |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | | | |
| | | | Repurchase Agreements (continued) | | | | | | | | |
| 1,550,909 (4) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,551,601, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,581,927, due 08/08/24-04/20/74) | | $ | 1,550,909 | | | | 0.5 | | |
| 1,550,909 (4) | | | CF Secured LLC, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,551,601, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.500%, Market Value plus accrued interest $1,581,927, due 04/30/27-04/20/72) | | | 1,550,909 | | | | 0.6 | | |
| 1,550,909 (4) | | | Marex Capital Markets Inc., Repurchase Agreement dated 06/28/2024, 5.440%, due 07/01/2024 (Repurchase Amount $1,551,602, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.125%-7.000%, Market Value plus accrued interest $1,581,928, due 01/15/25-11/01/53) | | | 1,550,909 | | | | 0.5 | | |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | | | |
| | | | Repurchase Agreements (continued) | | | | | | | | |
| 1,500,000 (4) | | | State of Wisconsin Investment Board, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $1,500,672, collateralized by various U.S. Government Securities, 0.125%-3.625%, Market Value plus accrued interest $1,527,075, due 10/15/25-02/15/53) | | $ | 1,500,000 | | | | 0.5 | | |
| | | | Total Repurchase Agreements
(Cost $6,489,162) | | | 6,489,162 | | | | 2.2 | | |
| | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | | | | | |
| | | | Mutual Funds: 1.5% | | | | | | | | |
| 4,466,966 (5) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $4,466,966) | | $ | 4,466,966 | | | | 1.5 | | |
| | | | | | | | | | | | |
| | | | Total Short-Term Investments (Cost $10,956,128) | | | 10,956,128 | | | | 3.7 | | |
| | | | Total Investments in Securities | | | | | | | | |
| | | | (Cost $296,154,282) | | $ | 298,788,954 | | | | 101.8 | | |
| | | | | | | | | | | | | |
| | | | Liabilities in Excess of Other Assets | | | (5,349,317 | ) | | | (1.8) | | |
| | | | | | | | | | | | | |
| | | | Net Assets | | $ | 293,439,637 | | | | 100.0 | | |
| † | 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) | Security is a Master Limited Partnership. |
| (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 June 30, 2024. |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices | | | | | | | | | | |
| | | in Active Markets | | | Significant Other | | | Significant | | | | |
| | | for Identical | | | Observable | | | Unobservable | | | Fair Value | |
| | | Investments | | | Inputs# | | | Inputs | | | at | |
| | | (Level 1) | | | (Level 2) | | | (Level 3) | | | June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 7,526,598 | | | $ | — | | | $ | — | | | $ | 7,526,598 | |
| Consumer Discretionary | | | 18,340,437 | | | | 705,785 | | | | — | | | | 19,046,222 | |
| Consumer Staples | | | 15,489,063 | | | | 6,563,333 | | | | — | | | | 22,052,396 | |
| Energy | | | 23,318,049 | | | | — | | | | — | | | | 23,318,049 | |
| Financials | | | 57,859,918 | | | | — | | | | — | | | | 57,859,918 | |
| Health Care | | | 32,458,469 | | | | — | | | | — | | | | 32,458,469 | |
| Industrials | | | 38,427,759 | | | | 5,899,207 | | | | — | | | | 44,326,966 | |
| Information Technology | | | 24,462,179 | | | | — | | | | — | | | | 24,462,179 | |
| Materials | | | 10,716,095 | | | | 1,672,328 | | | | — | | | | 12,388,423 | |
| Real Estate | | | 17,619,833 | | | | — | | | | — | | | | 17,619,833 | |
| Utilities | | | 25,217,854 | | | | — | | | | — | | | | 25,217,854 | |
| Total Common Stock | | | 271,436,254 | | | | 14,840,653 | | | | — | | | | 286,276,907 | |
| Preferred Stock | | | — | | | | 1,555,919 | | | | — | | | | 1,555,919 | |
| Short-Term Investments | | | 4,466,966 | | | | 6,489,162 | | | | — | | | | 10,956,128 | |
| Total Investments, at fair value | | $ | 275,903,220 | | | $ | 22,885,734 | | | $ | — | | | $ | 298,788,954 | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | | — | | | | 54,151 | | | | — | | | | 54,151 | |
| Total Assets | | $ | 275,903,220 | | | $ | 22,939,885 | | | $ | — | | | $ | 298,843,105 | |
| Liabilities Table | | | | | | | | | | | | | | | | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | $ | — | | | $ | (446 | ) | | $ | — | | | $ | (446 | ) |
| Total Liabilities | | $ | — | | | $ | (446 | ) | | $ | — | | | $ | (446 | ) |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
At June 30, 2024, the following forward foreign currency contracts were outstanding for VY® American Century Small-Mid Cap Value Portfolio:
| | | | | | | | | | | | | | | Unrealized | |
| | | | | | | | | | | | | | | Appreciation | |
| Currency Purchased | | Currency Sold | | Counterparty | | Settlement Date | | (Depreciation) | |
| USD | | 3,011,668 | | | EUR | | 2,791,230 | | | Bank of America N.A. | | 09/27/24 | | $ | 9,637 | |
| USD | | 1,287,094 | | | CAD | | 1,753,492 | | | Bank of America N.A. | | 09/27/24 | | | 2,641 | |
| EUR | | 319,172 | | | USD | | 343,673 | | | Bank of America N.A. | | 09/27/24 | | | (397 | ) |
| USD | | 3,010,297 | | | EUR | | 2,791,231 | | | Citibank N.A. | | 09/27/24 | | | 8,267 | |
| USD | | 435,265 | | | SEK | | 4,542,768 | | | Citibank N.A. | | 09/27/24 | | | 4,713 | |
| SEK | | 165,423 | | | USD | | 15,727 | | | Citibank N.A. | | 09/27/24 | | | (49 | ) |
| USD | | 2,027,399 | | | GBP | | 1,596,578 | | | Goldman Sachs & Co. | | 09/27/24 | | | 7,838 | |
| USD | | 3,013,463 | | | EUR | | 2,791,230 | | | Morgan Stanley | | 09/27/24 | | | 11,433 | |
| USD | | 3,011,654 | | | EUR | | 2,791,231 | | | UBS AG | | 09/27/24 | | | 9,623 | |
| | | | | | | | | | | | | | | $ | 53,706 | |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Currency Abbreviations: | Currency Abbreviations: |
| | | | | | |
| CAD | — | Canadian Dollar | GBP | — | British Pound |
| EUR | — | EU Euro | SEK | — | Swedish Krona |
| | | | USD | — | United States Dollar |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of June 30, 2024 was as follows:
| | | Location on Statement | | | |
| Derivatives not accounted for as hedging instruments | | of Assets and Liabilities | | Fair Value | |
| Asset Derivatives | | | | | | |
| Foreign exchange contracts | | Unrealized appreciation on forward foreign currency contracts | | $ | 54,152 | |
| Total Asset Derivatives | | | | $ | 54,152 | |
| Liability Derivatives | | | | | | |
| Foreign exchange contracts | | Unrealized depreciation on forward foreign currency contracts | | $ | 446 | |
| Total Liability Derivatives | | | | $ | 446 | |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| | | Forward |
| | | foreign |
| | | currency |
| Derivatives not accounted for as hedging instruments | | contracts |
| Foreign exchange contracts | | $ | 372,417 | |
| Total | | $ | 372,417 | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| | | Forward |
| | | foreign |
| | | currency |
| Derivatives not accounted for as hedging instruments | | contracts |
| Foreign exchange contracts | | $ | 215,794 |
| Total | | $ | 215,794 |
The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2024:
| | | Bank of | | | | Goldman | | Morgan | | | | |
| | | America N.A. | | Citibank N.A. | | Sachs & Co. | | Stanley | | UBS AG | | Total |
| Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 12,278 | | | $ | 12,980 | | | $ | 7,838 | | | $ | 11,433 | | | $ | 9,623 | | | $ | 54,152 | |
| Total Assets | | $ | 12,278 | | | $ | 12,980 | | | $ | 7,838 | | | $ | 11,433 | | | $ | 9,623 | | | $ | 54,152 | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 397 | | | $ | 49 | | | $ | — | | | $ | — | | | $ | — | | | $ | 446 | |
| Total Liabilities | | $ | 397 | | | $ | 49 | | | $ | — | | | $ | — | | | $ | — | | | $ | 446 | |
| Net OTC derivative instruments by counterparty, at fair value | | $ | 11,881 | | | $ | 12,931 | | | $ | 7,838 | | | $ | 11,433 | | | $ | 9,623 | | | $ | 53,706 | |
| Total collateral pledged by the Portfolio/(Received from counterparty) | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Net Exposure(1) | | $ | 11,881 | | | $ | 12,931 | | | $ | 7,838 | | | $ | 11,433 | | | $ | 9,623 | | | $ | 53,706 | |
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
See Accompanying Notes to Financial Statements
| VY® American Century | PORTFOLIO OF INVESTMENTS |
| Small-Mid Cap Value Portfolio | as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $299,348,995. | | | |
| Net unrealized depreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 22,834,693 | |
| Gross Unrealized Depreciation | | | (23,310,978 | ) |
| Net Unrealized Depreciation | | $ | (476,285 | ) |
See Accompanying Notes to Financial Statements
| | PORTFOLIO OF INVESTMENTS |
| VY® Baron Growth Portfolio | as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: 99.7% | | | | | | |
| | | | Communication Services: 1.9% | | | | | | | | |
| 317,000 | | | Iridium Communications, Inc. | | $ | 8,438,540 | | | | 1.9 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | Consumer Discretionary: 16.3% | | | | | | | | |
| 49,000 (1) | | | Bright Horizons Family Solutions, Inc. | | | 5,393,920 | | | | 1.2 | | |
| 258,250 | | | Choice Hotels International, Inc. | | | 30,731,750 | | | | 7.0 | | |
| 510,000 (1) | | | Figs, Inc. - Class A | | | 2,718,300 | | | | 0.6 | | |
| 150,000 | | | Krispy Kreme, Inc. | | | 1,614,000 | | | | 0.4 | | |
| 132,026 | | | Red Rock Resorts, Inc. - Class A | | | 7,252,188 | | | | 1.6 | | |
| 133,800 | | | Vail Resorts, Inc. | | | 24,101,394 | | | | 5.5 | | |
| | | | | | | 71,811,552 | | | | 16.3 | | |
| | | | | | | | | | | | | |
| | | | Financials: 41.2% | | | | | | | | |
| 376,500 (1) | | | Arch Capital Group Ltd. | | | 37,985,085 | | | | 8.6 | | |
| 100,000 | | | Carlyle Group, Inc. | | | 4,015,000 | | | | 0.9 | | |
| 100,000 | | | Cohen & Steers, Inc. | | | 7,256,000 | | | | 1.7 | | |
| 10,000 | | | Essent Group Ltd. | | | 561,900 | | | | 0.1 | | |
| 62,382 | | | FactSet Research Systems, Inc. | | | 25,468,699 | | | | 5.8 | | |
| 30,325 | | | Houlihan Lokey, Inc. | | | 4,089,630 | | | | 0.9 | | |
| 61,100 | | | Kinsale Capital Group, Inc. | | | 23,540,608 | | | | 5.4 | | |
| 22,065 | | | Moelis & Co. - Class A | | | 1,254,616 | | | | 0.3 | | |
| 46,000 | | | Morningstar, Inc. | | | 13,609,100 | | | | 3.1 | | |
| 87,350 | | | MSCI, Inc. | | | 42,080,862 | | | | 9.6 | | |
| 88,900 | | | Primerica, Inc. | | | 21,031,962 | | | | 4.8 | | |
| | | | | | | 180,893,462 | | | | 41.2 | | |
| | | | | | | | | | | | | |
| | | | Health Care: 9.7% | | | | | | | | |
| 170,000 | | | Bio-Techne Corp. | | | 12,180,500 | | | | 2.8 | | |
| 30,000 (1) | | | IDEXX Laboratories, Inc. | | | 14,616,000 | | | | 3.3 | | |
| 4,700 (1) | | | Mettler-Toledo International, Inc. | | | 6,568,673 | | | | 1.5 | | |
| 85,000 (1) | | | Neogen Corp. | | | 1,328,550 | | | | 0.3 | | |
| 24,000 | | | West Pharmaceutical Services, Inc. | | | 7,905,360 | | | | 1.8 | | |
| | | | | | | 42,599,083 | | | | 9.7 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 6.8% | | | | | | | | |
| 335,000 (1) | | | CoStar Group, Inc. | | | 24,836,900 | | | | 5.6 | | |
| 4,129,898 (2)(3) | | | Northvolt AB - Restricted | | | 762,161 | | | | 0.2 | | |
| 60,000 (1) | | | Trex Co., Inc. | | | 4,447,200 | | | | 1.0 | | |
| | | | | | | 30,046,261 | | | | 6.8 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 18.2% | | | | | | | | |
| 53,870 (1) | | | Altair Engineering, Inc. - Class A | | | 5,283,570 | | | | 1.2 | | |
| 63,000 (1) | | | ANSYS, Inc. | | | 20,254,500 | | | | 4.6 | | |
| 18,500 (1) | | | Clearwater Analytics Holdings, Inc. - Class A | | | 342,620 | | | | 0.1 | | |
| 91,900 (1) | | | Gartner, Inc. | | | 41,268,614 | | | | 9.4 | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | |
| | | | Information Technology: (continued) | | | | | | | | |
| 92,000 (1) | | | Guidewire Software, Inc. | | $ | 12,685,880 | | | | 2.9 | | |
| | | | | | | 79,835,184 | | | | 18.2 | | |
| | | | | | | | | | | | | |
| | | | Real Estate: 5.6% | | | | | | | | |
| 58,000 | | | Alexandria Real Estate Equities, Inc. | | | 6,784,260 | | | | 1.6 | | |
| 241,452 | | | Douglas Emmett, Inc. | | | 3,213,726 | | | | 0.7 | | |
| 325,000 | | | Gaming and Leisure Properties, Inc. | | | 14,693,250 | | | | 3.3 | | |
| | | | | | | 24,691,236 | | | | 5.6 | | |
| | | | Total Common Stock
(Cost $77,137,190) | | | 438,315,318 | | | | 99.7 | | |
| | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: 0.0% | | | | | | | | |
| | | | Mutual Funds: 0.0% | | | | | | | | |
| 78,464 (4) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $78,464) | | $ | 78,464 | | | | 0.0 | | |
| | | | | | | | | | | | |
| | | | Total Short-Term Investments (Cost $78,464) | | | 78,464 | | | | 0.0 | | |
| | | | Total Investments in Securities | | | | | | | | |
| | | | (Cost $77,215,654) | | $ | 438,393,782 | | | | 99.7 | | |
| | | | | | | | | | | | | |
| | | | Assets in Excess of Other Liabilities | | | 1,262,553 | | | | 0.3 | | |
| | | | | | | | | | | | | |
| | | | Net Assets | | $ | 439,656,335 | | | | 100.0 | | |
| (1) | Non-income producing security. |
| (2) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (3) | Restricted security as to resale, excluding Rule 144A securities. As of June 30, 2024, the Portfolio held restricted securities with a fair value of $762,161 or 0.2% of net assets. Please refer to the table below for additional details. |
| (4) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| | PORTFOLIO OF INVESTMENTS |
| VY® Baron Growth Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices | | | | | | |
| | | in Active Markets | | Significant Other | | Significant | | |
| | | for Identical | | Observable | | Unobservable | | Fair Value |
| | | Investments | | Inputs | | Inputs | | at |
| | | (Level 1) | | (Level 2) | | (Level 3) | | June 30, 2024 |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 8,438,540 | | | $ | — | | | $ | — | | | $ | 8,438,540 | |
| Consumer Discretionary | | | 71,811,552 | | | | — | | | | — | | | | 71,811,552 | |
| Financials | | | 180,893,462 | | | | — | | | | — | | | | 180,893,462 | |
| Health Care | | | 42,599,083 | | | | — | | | | — | | | | 42,599,083 | |
| Industrials | | | 29,284,100 | | | | — | | | | 762,161 | | | | 30,046,261 | |
| Information Technology | | | 79,835,184 | | | | — | | | | — | | | | 79,835,184 | |
| Real Estate | | | 24,691,236 | | | | — | | | | — | | | | 24,691,236 | |
| Total Common Stock | | | 437,553,157 | | | | — | | | | 762,161 | | | | 438,315,318 | |
| Short-Term Investments | | | 78,464 | | | | — | | | | — | | | | 78,464 | |
| Total Investments, at fair value | | $ | 437,631,621 | | | $ | — | | | $ | 762,161 | | | $ | 438,393,782 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
At June 30, 2024, VY® Baron Growth Portfolio held the following restricted securities:
| Security | | Acquisition Date | | Acquisition Cost | | Fair Value |
| Northvolt AB - Restricted | | 9/21/2020 | | $ | 651,737 | | | $ | 762,161 | |
| | | | | $ | 651,737 | | | $ | 762,161 | |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $79,593,864. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 361,895,207 | |
| Gross Unrealized Depreciation | | | (3,095,289 | ) |
| Net Unrealized Appreciation | | $ | 358,799,918 | |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Contrarian Core Portfolio | as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: 97.0% | | | | | | |
| | | | Communication Services: 11.5% | | | | | | | | |
| 10,899 | | | Alphabet, Inc. - Class A | | $ | 1,985,253 | | | | 2.6 | | |
| 9,375 | | | Alphabet, Inc. - Class C | | | 1,719,562 | | | | 2.2 | | |
| 5,328 | | | Meta Platforms, Inc. - Class A | | | 2,686,484 | | | | 3.4 | | |
| 16,112 (1) | | | Pinterest, Inc. - Class A | | | 710,056 | | | | 0.9 | | |
| 6,649 (1) | | | Take-Two Interactive Software, Inc. | | | 1,033,853 | | | | 1.3 | | |
| 4,866 | | | T-Mobile US, Inc. | | | 857,292 | | | | 1.1 | | |
| | | | | | | 8,992,500 | | | | 11.5 | | |
| | | | | | | | | | | | | |
| | | | Consumer Discretionary: 7.5% | | | | | | | | |
| 19,397 (1) | | | Amazon.com, Inc. | | | 3,748,470 | | | | 4.8 | | |
| 19,838 | | | eBay, Inc. | | | 1,065,697 | | | | 1.4 | | |
| 3,619 | | | NIKE, Inc. - Class B | | | 272,764 | | | | 0.3 | | |
| 11,246 | | | Tapestry, Inc. | | | 481,216 | | | | 0.6 | | |
| 1,705 (1) | | | Tesla, Inc. | | | 337,386 | | | | 0.4 | | |
| | | | | | | 5,905,533 | | | | 7.5 | | |
| | | | | | | | | | | | | |
| | | | Consumer Staples: 4.7% | | | | | | | | |
| 47,970 (1) | | | Coty, Inc. - Class A | | | 480,660 | | | | 0.6 | | |
| 3,375 | | | Mondelez International, Inc. - Class A | | | 220,860 | | | | 0.3 | | |
| 6,071 | | | Procter & Gamble Co. | | | 1,001,229 | | | | 1.3 | | |
| 13,716 | | | Sysco Corp. | | | 979,185 | | | | 1.2 | | |
| 14,809 | | | Walmart, Inc. | | | 1,002,717 | | | | 1.3 | | |
| | | | | | | 3,684,651 | | | | 4.7 | | |
| | | | | | | | | | | | | |
| | | | Energy: 3.7% | | | | | | | | |
| 23,444 | | | Canadian Natural Resources Ltd. | | | 834,606 | | | | 1.1 | | |
| 8,404 | | | Chevron Corp. | | | 1,314,554 | | | | 1.7 | | |
| 5,760 | | | EOG Resources, Inc. | | | 725,011 | | | | 0.9 | | |
| | | | | | | 2,874,171 | | | | 3.7 | | |
| | | | | | | | | | | | | |
| | | | Financials: 9.7% | | | | | | | | |
| 1,855 | | | American Express Co. | | | 429,525 | | | | 0.6 | | |
| 2,785 | | | Aon PLC - Class A | | | 817,620 | | | | 1.0 | | |
| 28,518 | | | Bank of America Corp. | | | 1,134,161 | | | | 1.4 | | |
| 566 (1) | | | Berkshire Hathaway, Inc. - Class B | | | 230,249 | | | | 0.3 | | |
| 1,309 | | | BlackRock, Inc. | | | 1,030,602 | | | | 1.3 | | |
| 8,236 (1) | | | Block, Inc. | | | 531,140 | | | | 0.7 | | |
| 8,671 | | | Charles Schwab Corp. | | | 638,966 | | | | 0.8 | | |
| 6,744 | | | JPMorgan Chase & Co. | | | 1,364,041 | | | | 1.7 | | |
| 1,316 | | | S&P Global, Inc. | | | 586,936 | | | | 0.8 | | |
| 14,785 | | | Wells Fargo & Co. | | | 878,081 | | | | 1.1 | | |
| | | | | | | 7,641,321 | | | | 9.7 | | |
| | | | | | | | | | | | | |
| | | | Health Care: 12.4% | | | | | | | | |
| 5,965 | | | Abbott Laboratories | | | 619,823 | | | | 0.8 | | |
| 6,810 | | | AbbVie, Inc. | | | 1,168,051 | | | | 1.5 | | |
| 2,844 | | | Becton Dickinson and Co. | | | 664,671 | | | | 0.9 | | |
| 3,241 (1) | | | Biogen, Inc. | | | 751,328 | | | | 1.0 | | |
| 5,982 (1) | | | BioMarin Pharmaceutical, Inc. | | | 492,498 | | | | 0.6 | | |
| 9,573 (1) | | | Boston Scientific Corp. | | | 737,217 | | | | 0.9 | | |
| 2,645 | | | Elevance Health, Inc. | | | 1,433,220 | | | | 1.8 | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Health Care: (continued) | | | | | | | | |
| 1,244 | | | Eli Lilly & Co. | | $ | 1,126,293 | | | | 1.4 | | |
| 1,125 (1) | | | IQVIA Holdings, Inc. | | | 237,870 | | | | 0.3 | | |
| 21,700 | | | Pfizer, Inc. | | | 607,166 | | | | 0.8 | | |
| 2,232 | | | Thermo Fisher Scientific, Inc. | | | 1,234,296 | | | | 1.6 | | |
| 1,344 (1) | | | Vertex Pharmaceuticals, Inc. | | | 629,960 | | | | 0.8 | | |
| | | | | | | 9,702,393 | | | | 12.4 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 7.8% | | | | | | | | |
| 5,551 | | | Emerson Electric Co. | | | 611,498 | | | | 0.8 | | |
| 730 (1) | | | GE Vernova, Inc. | | | 125,202 | | | | 0.2 | | |
| 2,454 | | | General Electric Co. | | | 390,112 | | | | 0.5 | | |
| 6,401 | | | Honeywell International, Inc. | | | 1,366,870 | | | | 1.7 | | |
| 1,081 | | | L3Harris Technologies, Inc. | | | 242,771 | | | | 0.3 | | |
| 768 | | | Parker-Hannifin Corp. | | | 388,462 | | | | 0.5 | | |
| 10,484 | | | Raytheon Technologies Corp. | | | 1,052,489 | | | | 1.3 | | |
| 10,562 (1) | | | Uber Technologies, Inc. | | | 767,646 | | | | 1.0 | | |
| 2,150 | | | Union Pacific Corp. | | | 486,459 | | | | 0.6 | | |
| 6,429 (1) | | | United Airlines Holdings, Inc. | | | 312,835 | | | | 0.4 | | |
| 2,917 | | | United Parcel Service, Inc. - Class B | | | 399,192 | | | | 0.5 | | |
| | | | | | | 6,143,536 | | | | 7.8 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 34.7% | | | | | | | | |
| 663 | | | Accenture PLC - Class A | | | 201,161 | | | | 0.2 | | |
| 738 (1) | | | Adobe, Inc. | | | 409,988 | | | | 0.5 | | |
| 3,174 (1) | | | Advanced Micro Devices, Inc. | | | 514,855 | | | | 0.6 | | |
| 26,410 | | | Apple, Inc. | | | 5,562,474 | | | | 7.1 | | |
| 2,748 (1) | | | Autodesk, Inc. | | | 679,993 | | | | 0.9 | | |
| 3,547 | | | Entegris, Inc. | | | 480,264 | | | | 0.6 | | |
| 3,144 | | | International Business Machines Corp. | | | 543,755 | | | | 0.7 | | |
| 1,360 | | | Intuit, Inc. | | | 893,806 | | | | 1.1 | | |
| 1,024 | | | Lam Research Corp. | | | 1,090,406 | | | | 1.4 | | |
| 5,373 | | | Marvell Technology, Inc. | | | 375,573 | | | | 0.5 | | |
| 2,281 | | | Mastercard, Inc. - Class A | | | 1,006,286 | | | | 1.3 | | |
| 12,977 | | | Microsoft Corp. | | | 5,800,070 | | | | 7.4 | | |
| 45,455 | | | NVIDIA Corp. | | | 5,615,511 | | | | 7.2 | | |
| 10,148 (1) | | | ON Semiconductor Corp. | | | 695,645 | | | | 0.9 | | |
| 1,421 (1) | | | Palo Alto Networks, Inc. | | | 481,733 | | | | 0.6 | | |
| 3,115 | | | Qualcomm, Inc. | | | 620,446 | | | | 0.8 | | |
| 7,375 | | | TE Connectivity Ltd. | | | 1,109,421 | | | | 1.4 | | |
| 4,516 | | | Visa, Inc. - Class A | | | 1,185,314 | | | | 1.5 | | |
| | | | | | | 27,266,701 | | | | 34.7 | | |
| | | | | | | | | | | | | |
| | | | Materials: 2.2% | | | | | | | | |
| 1,376 | | | Avery Dennison Corp. | | | 300,862 | | | | 0.4 | | |
| 20,945 | | | Newmont Corp. | | | 876,967 | | | | 1.1 | | |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Contrarian Core Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | | | | | | | |
| | | | Materials: (continued) | | | | | | | | |
| 1,857 | | | Sherwin-Williams Co. | | $ | 554,185 | | | | 0.7 | | |
| | | | | | | 1,732,014 | | | | 2.2 | | |
| | | | Real Estate: 1.2% | | | | | | | | |
| 4,809 | | | American Tower Corp. | | | 934,774 | | | | 1.2 | | |
| | | | | | | | | | | | |
| | | | Utilities: 1.6% | | | | | | | | |
| 5,262 | | | DTE Energy Co. | | | 584,135 | | | | 0.8 | | |
| 8,720 | | | Public Service Enterprise Group, Inc. | | | 642,664 | | | | 0.8 | | |
| | | | | | | 1,226,799 | | | | 1.6 | | |
| | | | Total Common Stock
(Cost $55,308,782) | | | 76,104,393 | | | | 97.0 | | |
| | | | | | | | | | | | | |
| OTHER(2): 0.0% | | | | |
| | | | Materials: 0.0% | | | | | | | | |
| 649,000 (3)(4) | | | SINO Forest Corp. | | | — | | | | 0.0 | | |
| | | | | | | | | | | | |
| | | | Total Other (Cost $—) | | | — | | | | 0.0 | | |
| | | | | | | | | | | | | |
| | | | Total Long-Term Investments
(Cost $55,308,782) | | | 76,104,393 | | | | 97.0 | | |
| | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: 2.9% | |
| | | | Mutual Funds: 2.9% | | | | | | | | |
| 2,270,160 (5) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $2,270,160) | | $ | 2,270,160 | | | | 2.9 | | |
| | | | | | | | | | | | |
| | | | Total Short-Term Investments
(Cost $2,270,160) | | | 2,270,160 | | | | 2.9 | | |
| | | | Total Investments in Securities | | | | | | | | |
| | | | (Cost $57,578,942) | | $ | 78,374,553 | | | | 99.9 | | |
| | | | Assets in Excess of Other Liabilities | | | 62,311 | | | | 0.1 | | |
| | | | Net Assets | | $ | 78,436,864 | | | | 100.0 | | |
| (1) | Non-income producing security. |
| (2) | Represents an escrow position for future entitlements, if any, on the defaulted bond. The escrow position was received in exchange for the defaulted bond as part of the bankruptcy reorganization of the bond issuer. These holdings are non-income producing. |
| (3) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (4) | Restricted security as to resale, excluding Rule 144A securities. As of June 30, 2024, the Portfolio held restricted securities with a fair value of $– or —% of net assets. Please refer to the table below for additional details. |
| (5) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Contrarian Core Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices | | | | | | |
| | | in Active Markets | | Significant Other | | Significant | | |
| | | for Identical | | Observable | | Unobservable | | Fair Value |
| | | Investments | | Inputs | | Inputs | | at |
| | | (Level 1) | | (Level 2) | | (Level 3) | | June 30, 2024 |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock* | | $ | 76,104,393 | | | $ | — | | | $ | — | | | $ | 76,104,393 | |
| Short-Term Investments | | | 2,270,160 | | | | — | | | | — | | | | 2,270,160 | |
| Total Investments, at fair value | | $ | 78,374,553 | | | $ | — | | | $ | — | | | $ | 78,374,553 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| * | For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments. |
At June 30, 2024, VY® Columbia Contrarian Core Portfolio held the following restricted securities:
| Security | | Acquisition Date | | | Acquisition Cost | | | | Fair Value | |
| SINO Forest Corp. | | 3/1/2013 | | $ | — | | | $ | — | |
| | | | | $ | — | | | $ | — | |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $58,656,801. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 21,170,724 | |
| Gross Unrealized Depreciation | | | (1,452,972 | ) |
| Net Unrealized Appreciation | | $ | 19,717,752 | |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Small Cap Value II Portfolio | as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 99.1% | | | |
| | | | Communication Services: 1.2% | |
| 56,070 (1) | | | Magnite, Inc. | | $ | 745,170 | | | 0.6 | | |
| 20,630 | | | Shutterstock, Inc. | | | 798,381 | | | 0.6 | | |
| | | | | | | 1,543,551 | | | 1.2 | | |
| | | | | | | | | | | | |
| | | | Consumer Discretionary: 13.6% | |
| 16,979 | | | Advance Auto Parts, Inc. | | | 1,075,280 | | | 0.8 | | |
| 65,250 | | | American Eagle Outfitters, Inc. | | | 1,302,390 | | | 1.0 | | |
| 14,540 | | | Carter’s, Inc. | | | 901,044 | | | 0.7 | | |
| 4,160 (1) | | | Cavco Industries, Inc. | | | 1,440,067 | | | 1.1 | | |
| 6,840 | | | Group 1 Automotive, Inc. | | | 2,033,395 | | | 1.6 | | |
| 84,907 | | | International Game Technology PLC | | | 1,737,197 | | | 1.3 | | |
| 24,170 | | | Kontoor Brands, Inc. | | | 1,598,846 | | | 1.2 | | |
| 73,530 | | | Laureate Education, Inc. | | | 1,098,538 | | | 0.9 | | |
| 25,700 | | | Perdoceo Education Corp. | | | 550,494 | | | 0.4 | | |
| 30,070 | | | Red Rock Resorts, Inc. - Class A | | | 1,651,745 | | | 1.3 | | |
| 78,250 (1) | | | Savers Value Village, Inc. | | | 957,780 | | | 0.7 | | |
| 20,292 | | | Signet Jewelers Ltd. | | | 1,817,758 | | | 1.4 | | |
| 29,150 (1) | | | Taylor Morrison Home Corp. | | | 1,616,076 | | | 1.2 | | |
| | | | | | | 17,780,610 | | | 13.6 | | |
| | | | | | | | | | | | |
| | | | Consumer Staples: 1.4% | |
| 8,795 | | | Cal-Maine Foods, Inc. | | | 537,463 | | | 0.4 | | |
| 40,837 (1) | | | Central Garden & Pet Co. - Class A | | | 1,348,846 | | | 1.0 | | |
| | | | | | | 1,886,309 | | | 1.4 | | |
| | | | | | | | | | | | |
| | | | Energy: 7.3% | |
| 17,470 | | | Civitas Resources, Inc. | | | 1,205,430 | | | 0.9 | | |
| 68,760 (1) | | | CNX Resources Corp. | | | 1,670,868 | | | 1.3 | | |
| 59,700 | | | Golar LNG Ltd. | | | 1,871,595 | | | 1.4 | | |
| 40,140 | | | Murphy Oil Corp. | | | 1,655,374 | | | 1.3 | | |
| 33,570 | | | PBF Energy, Inc. - Class A | | | 1,544,891 | | | 1.2 | | |
| 36,380 | | | SM Energy Co. | | | 1,572,708 | | | 1.2 | | |
| | | | | | | 9,520,866 | | | 7.3 | | |
| | | | | | | | | | | | |
| | | | Financials: 19.7% | |
| 20,980 | | | Assured Guaranty Ltd. | | | 1,618,607 | | | 1.2 | | |
| 22,080 | | | Axis Capital Holdings Ltd. | | | 1,559,952 | | | 1.2 | | |
| 30,519 | | | Bank of NT Butterfield & Son Ltd. | | | 1,071,827 | | | 0.8 | | |
| 46,430 | | | BankUnited, Inc. | | | 1,359,006 | | | 1.0 | | |
| 11,070 | | | BOK Financial Corp. | | | 1,014,455 | | | 0.8 | | |
| 107,390 | | | F.N.B. Corp. | | | 1,469,095 | | | 1.1 | | |
| 111,580 | | | Fulton Financial Corp. | | | 1,894,629 | | | 1.4 | | |
| 42,440 | | | Hancock Whitney Corp. | | | 2,029,905 | | | 1.6 | | |
| 41,530 | | | Lazard, Inc. | | | 1,585,615 | | | 1.2 | | |
| 64,429 | | | MGIC Investment Corp. | | | 1,388,445 | | | 1.1 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | |
| | | | Financials: (continued) | | |
| 14,150 | | | PennyMac Financial Services, Inc. | | $ | 1,338,590 | | | | 1.0 | | |
| 15,330 | | | Popular, Inc. | | | 1,355,632 | | | | 1.0 | | |
| 70,160 | | | Radian Group, Inc. | | | 2,181,976 | | | | 1.7 | | |
| 18,740 (1) | | | StoneX Group, Inc. | | | 1,411,309 | | | | 1.1 | | |
| 30,840 | | | Synovus Financial Corp. | | | 1,239,460 | | | | 0.9 | | |
| 43,480 | | | Washington Federal, Inc. | | | 1,242,659 | | | | 0.9 | | |
| 14,900 | | | Westamerica BanCorp | | | 723,097 | | | | 0.6 | | |
| 32,230 | | | Zions Bancorp NA | | | 1,397,815 | | | | 1.1 | | |
| | | | | | | 25,882,074 | | | | 19.7 | | |
| | | | | | | | | | | | | |
| | | | Health Care: 6.8% | | |
| 22,640 (1) | | | Apellis Pharmaceuticals, Inc. | | | 868,470 | | | | 0.7 | | |
| 21,510 (1) | | | Arrowhead Pharmaceuticals, Inc. | | | 559,045 | | | | 0.4 | | |
| 60,350 (1) | | | BioCryst Pharmaceuticals, Inc. | | | 372,963 | | | | 0.3 | | |
| 124,681 (1) | | | GoodRx Holdings, Inc. - Class A | | | 972,512 | | | | 0.7 | | |
| 12,730 (1) | | | Haemonetics Corp. | | | 1,053,153 | | | | 0.8 | | |
| 9,010 (1) | | | Intra-Cellular Therapies, Inc. | | | 617,095 | | | | 0.5 | | |
| 35,980 (1) | | | LivaNova PLC | | | 1,972,423 | | | | 1.5 | | |
| 13,360 (1) | | | Merit Medical Systems, Inc. | | | 1,148,292 | | | | 0.9 | | |
| 12,000 (1) | | | Prestige Consumer Healthcare, Inc. | | | 826,200 | | | | 0.6 | | |
| 14,340 (1) | | | SpringWorks Therapeutics, Inc. | | | 540,188 | | | | 0.4 | | |
| | | | | | | 8,930,341 | | | | 6.8 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 18.5% | | |
| 166,079 (1) | | | Alight, Inc. - Class A | | | 1,225,663 | | | | 0.9 | | |
| 11,770 | | | ArcBest Corp. | | | 1,260,332 | | | | 1.0 | | |
| 14,630 | | | AZZ, Inc. | | | 1,130,167 | | | | 0.9 | | |
| 17,110 (1) | | | Beacon Roofing Supply, Inc. | | | 1,548,455 | | | | 1.2 | | |
| 23,765 | | | Crane Holdings Co. | | | 1,459,646 | | | | 1.1 | | |
| 35,900 (1) | | | Fluor Corp. | | | 1,563,445 | | | | 1.2 | | |
| 7,920 | | | Herc Holdings, Inc. | | | 1,055,657 | | | | 0.8 | | |
| 30,622 | | | Hillenbrand, Inc. | | | 1,225,492 | | | | 0.9 | | |
| 30,090 | | | HNI Corp. | | | 1,354,652 | | | | 1.0 | | |
| 13,490 (1) | | | Kirby Corp. | | | 1,615,158 | | | | 1.2 | | |
| 48,764 | | | Marten Transport Ltd. | | | 899,696 | | | | 0.7 | | |
| 16,680 | | | Matson, Inc. | | | 2,184,580 | | | | 1.7 | | |
| 11,632 | | | Moog, Inc. - Class A | | | 1,946,033 | | | | 1.5 | | |
| 43,810 (1) | | | MRC Global, Inc. | | | 565,587 | | | | 0.4 | | |
| 18,550 | | | Mueller Industries, Inc. | | | 1,056,237 | | | | 0.8 | | |
| 8,860 | | | Science Applications International Corp. | | | 1,041,493 | | | | 0.8 | | |
| 9,950 (1) | | | SPX Technologies, Inc. | | | 1,414,293 | | | | 1.1 | | |
| 15,000 | | | UFP Industries, Inc. | | | 1,680,000 | | | | 1.3 | | |
| | | | | | | 24,226,586 | | | | 18.5 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 9.2% | | |
| 13,700 (1) | | | Blackbaud, Inc. | | | 1,043,529 | | | | 0.8 | | |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Small Cap Value II Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | |
| | | | Information Technology: (continued) | | |
| 47,698 | | | Clear Secure, Inc. - Class A | | $ | 892,430 | | | | 0.7 | | |
| 56,600 (1) | | | Knowles Corp. | | | 976,916 | | | | 0.7 | | |
| 46,260 (1) | | | Kyndryl Holdings, Inc. | | | 1,217,101 | | | | 0.9 | | |
| 23,620 (1) | | | Lumentum Holdings, Inc. | | | 1,202,730 | | | | 0.9 | | |
| 100,419 (1) | | | N-able, Inc. | | | 1,529,381 | | | | 1.2 | | |
| 27,470 | | | Progress Software Corp. | | | 1,490,522 | | | | 1.1 | | |
| 12,650 (1) | | | ScanSource, Inc. | | | 560,522 | | | | 0.4 | | |
| 87,124 | | | Vishay Intertechnology, Inc. | | | 1,942,865 | | | | 1.5 | | |
| 32,530 | | | Vontier Corp. | | | 1,242,646 | | | | 1.0 | | |
| | | | | | | 12,098,642 | | | | 9.2 | | |
| | | | | | | | | | | | | |
| | | | Materials: 8.5% | | |
| 19,410 (1) | | | ATI, Inc. | | | 1,076,285 | | | | 0.8 | | |
| 34,000 | | | Avient Corp. | | | 1,484,100 | | | | 1.1 | | |
| 13,450 | | | Cabot Corp. | | | 1,235,920 | | | | 0.9 | | |
| 15,700 | | | Carpenter Technology Corp. | | | 1,720,406 | | | | 1.3 | | |
| 30,850 | | | Commercial Metals Co. | | | 1,696,442 | | | | 1.3 | | |
| 92,050 | | | Ferroglobe PLC | | | 493,388 | | | | 0.4 | | |
| 23,590 | | | Minerals Technologies, Inc. | | | 1,961,744 | | | | 1.5 | | |
| 41,540 (1) | | | Summit Materials, Inc. - Class A | | | 1,520,779 | | | | 1.2 | | |
| | | | | | | 11,189,064 | | | | 8.5 | | |
| | | | | | | | | | | | | |
| | | | Real Estate: 7.7% | | |
| 30,760 | | | American Assets Trust, Inc. | | | 688,409 | | | | 0.5 | | |
| 43,080 | | | Cousins Properties, Inc. | | | 997,302 | | | | 0.8 | | |
| 136,080 (1) | | | Cushman & Wakefield PLC | | | 1,415,232 | | | | 1.1 | | |
| 69,660 | | | Kite Realty Group Trust | | | 1,558,991 | | | | 1.2 | | |
| 95,250 | | | Macerich Co. | | | 1,470,660 | | | | 1.1 | | |
| 37,500 | | | Rayonier, Inc. | | | 1,090,875 | | | | 0.8 | | |
| 111,560 | | | RLJ Lodging Trust | | | 1,074,322 | | | | 0.8 | | |
| 64,780 | | | Tanger Factory Outlet Centers, Inc. | | | 1,756,186 | | | | 1.4 | | |
| | | | | | | 10,051,977 | | | | 7.7 | | |
| | | | | | | | | | | | | |
| | | | Utilities: 5.2% | | |
| 31,400 | | | New Jersey Resources Corp. | | | 1,342,036 | | | | 1.0 | | |
| 44,100 | | | PNM Resources, Inc. | | | 1,629,936 | | | | 1.3 | | |
| 40,340 | | | Portland General Electric Co. | | | 1,744,301 | | | | 1.3 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | |
| | | | Utilities: (continued) | |
| 33,790 | | | Spire, Inc. | | $ | 2,052,067 | | | | 1.6 | | |
| | | | | | | 6,768,340 | | | | 5.2 | | |
| | | | Total Common Stock | | | | | | | | | |
| | | | (Cost $118,985,096) | | | 129,878,360 | | | | 99.1 | | |
| | | | | | | | | | | | | |
| | | | Total Investments in Securities | | | | | | | | | |
| | | | (Cost $118,985,096) | | $ | 129,878,360 | | | | 99.1 | | |
| | | | | | | | | | | | | |
| | | | Assets in Excess of Other Liabilities | | | 1,161,073 | | | | 0.9 | | |
| | | | Net Assets | | $ | 131,039,433 | | | | 100.0 | | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| VY® Columbia | PORTFOLIO OF INVESTMENTS |
| Small Cap Value II Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock* | | $ | 129,878,360 | | | $ | — | | | $ | — | | | $ | 129,878,360 | |
| Total Investments, at fair value | | $ | 129,878,360 | | | $ | — | | | $ | — | | | $ | 129,878,360 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| * | For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments. |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $120,290,857. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 14,019,432 | |
| Gross Unrealized Depreciation | | | (4,431,929 | ) |
| Net Unrealized Appreciation | | $ | 9,587,503 | |
See Accompanying Notes to Financial Statements
| VY® Invesco Comstock Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 95.1% | | | | |
| | | | Communication Services: 8.9% | |
| 25,156 | | | Alphabet, Inc. - Class A | | $ | 4,582,165 | | | | 2.0 | | |
| 9,513 (1) | | | Charter Communications, Inc. - Class A | | | 2,844,007 | | | | 1.3 | | |
| 54,034 | | | Comcast Corp. - Class A | | | 2,115,971 | | | | 0.9 | | |
| 11,433 | | | Meta Platforms, Inc. - Class A | | | 5,764,747 | | | | 2.5 | | |
| 9,908 | | | T-Mobile US, Inc. | | | 1,745,592 | | | | 0.8 | | |
| 22,520 | | | Walt Disney Co. | | | 2,236,011 | | | | 1.0 | | |
| 132,541 (1) | | | Warner Bros Discovery, Inc. | | | 986,105 | | | | 0.4 | | |
| | | | | | | 20,274,598 | | | | 8.9 | | |
| | | | | | | | | | | | | |
| | | | Consumer Discretionary: 3.6% | |
| 51,961 | | | eBay, Inc. | | | 2,791,345 | | | | 1.2 | | |
| 10,144 | | | General Motors Co. | | | 471,290 | | | | 0.2 | | |
| 54,420 | | | Las Vegas Sands Corp. | | | 2,408,085 | | | | 1.1 | | |
| 32,278 | | | Starbucks Corp. | | | 2,512,843 | | | | 1.1 | | |
| | | | | | | 8,183,563 | | | | 3.6 | | |
| | | | | | | | | | | | | |
| | | | Consumer Staples: 9.4% | |
| 31,588 | | | Coca-Cola Co. | | | 2,010,576 | | | | 0.9 | | |
| 80,300 | | | Keurig Dr Pepper, Inc. | | | 2,682,020 | | | | 1.2 | | |
| 21,577 | | | Kimberly-Clark Corp. | | | 2,981,941 | | | | 1.3 | | |
| 65,134 | | | Kraft Heinz Co. | | | 2,098,618 | | | | 0.9 | | |
| 58,144 | | | Philip Morris International, Inc. | | | 5,891,732 | | | | 2.6 | | |
| 40,747 | | | Reckitt Benckiser Group PLC | | | 2,204,373 | | | | 1.0 | | |
| 36,780 | | | Sysco Corp. | | | 2,625,724 | | | | 1.2 | | |
| 13,680 | | | Tyson Foods, Inc. - Class A | | | 781,675 | | | | 0.3 | | |
| | | | | | | 21,276,659 | | | | 9.4 | | |
| | | | | | | | | | | | | |
| | | | Energy: 9.9% | |
| 12,116 | | | Cheniere Energy, Inc. | | | 2,118,240 | | | | 0.9 | | |
| 30,489 | | | Chevron Corp. | | | 4,769,090 | | | | 2.1 | | |
| 16,587 | | | ConocoPhillips | | | 1,897,221 | | | | 0.8 | | |
| 36,741 | | | Exxon Mobil Corp. | | | 4,229,624 | | | | 1.9 | | |
| 13,304 | | | Hess Corp. | | | 1,962,606 | | | | 0.9 | | |
| 73,636 | | | Marathon Oil Corp. | | | 2,111,144 | | | | 0.9 | | |
| 12,723 | | | Shell PLC, ADR | | | 918,346 | | | | 0.4 | | |
| 120,197 | | | Suncor Energy, Inc. | | | 4,579,506 | | | | 2.0 | | |
| | | | | | | 22,585,777 | | | | 9.9 | | |
| | | | | | | | | | | | | |
| | | | Financials: 19.4% | |
| 14,664 | | | Allstate Corp. | | | 2,341,254 | | | | 1.0 | | |
| 48,685 | | | American International Group, Inc. | | | 3,614,374 | | | | 1.6 | | |
| 160,205 | | | Bank of America Corp. | | | 6,371,353 | | | | 2.8 | | |
| 53,951 | | | Citigroup, Inc. | | | 3,423,731 | | | | 1.5 | | |
| 86,276 | | | Citizens Financial Group, Inc. | | | 3,108,524 | | | | 1.4 | | |
| 82,958 | | | Fifth Third Bancorp | | | 3,027,137 | | | | 1.3 | | |
| 6,461 | | | Goldman Sachs Group, Inc. | | | 2,922,440 | | | | 1.3 | | |
| 215,590 | | | Huntington Bancshares, Inc. | | | 2,841,476 | | | | 1.2 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| COMMON STOCK: (continued) | | | | |
| | | | Financials: (continued) | |
| 15,986 | | | M&T Bank Corp. | | $ | 2,419,641 | | | | 1.1 | | |
| 30,501 | | | MetLife, Inc. | | | 2,140,865 | | | | 0.9 | | |
| 15,557 | | | Morgan Stanley | | | 1,511,985 | | | | 0.7 | | |
| 43,024 | | | State Street Corp. | | | 3,183,776 | | | | 1.4 | | |
| 121,992 | | | Wells Fargo & Co. | | | 7,245,105 | | | | 3.2 | | |
| | | | | | | 44,151,661 | | | | 19.4 | | |
| | | | | | | | | | | | | |
| | | | Health Care: 15.6% | |
| 7,417 | | | AbbVie, Inc. | | | 1,272,164 | | | | 0.6 | | |
| 16,114 | | | AstraZeneca PLC | | | 2,507,861 | | | | 1.1 | | |
| 32,020 | | | Baxter International, Inc. | | | 1,071,069 | | | | 0.5 | | |
| 7,771 | | | Becton Dickinson and Co. | | | 1,816,160 | | | | 0.8 | | |
| 30,615 | | | Bristol-Myers Squibb Co. | | | 1,271,441 | | | | 0.6 | | |
| 51,320 | | | CVS Health Corp. | | | 3,030,959 | | | | 1.3 | | |
| 27,694 | | | DENTSPLY SIRONA, Inc. | | | 689,858 | | | | 0.3 | | |
| 9,444 | | | Elevance Health, Inc. | | | 5,117,326 | | | | 2.2 | | |
| 5,748 | | | GE HealthCare Technologies, Inc. | | | 447,884 | | | | 0.2 | | |
| 30,188 (1) | | | Henry Schein, Inc. | | | 1,935,051 | | | | 0.8 | | |
| 6,056 | | | Humana, Inc. | | | 2,262,824 | | | | 1.0 | | |
| 19,520 | | | Johnson & Johnson | | | 2,853,043 | | | | 1.3 | | |
| 26,184 | | | Medtronic PLC | | | 2,060,943 | | | | 0.9 | | |
| 28,366 | | | Merck & Co., Inc. | | | 3,511,711 | | | | 1.5 | | |
| 76,847 | | | Sanofi, ADR | | | 3,728,616 | | | | 1.6 | | |
| 10,595 | | | Universal Health Services, Inc. - Class B | | | 1,959,333 | | | | 0.9 | | |
| | | | | | | 35,536,243 | | | | 15.6 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 11.8% | |
| 8,453 | | | Caterpillar, Inc. | | | 2,815,694 | | | | 1.2 | | |
| 11,862 | | | Eaton Corp. PLC | | | 3,719,330 | | | | 1.6 | | |
| 31,601 | | | Emerson Electric Co. | | | 3,481,166 | | | | 1.5 | | |
| 16,319 | | | FedEx Corp. | | | 4,893,089 | | | | 2.2 | | |
| 16,349 | | | General Electric Co. | | | 2,599,001 | | | | 1.2 | | |
| 66,375 | | | Johnson Controls International PLC | | | 4,411,946 | | | | 2.0 | | |
| 27,353 | | | Textron, Inc. | | | 2,348,529 | | | | 1.0 | | |
| 16,358 | | | Westinghouse Air Brake Technologies Corp. | | | 2,585,382 | | | | 1.1 | | |
| | | | | | | 26,854,137 | | | | 11.8 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 11.6% | |
| 84,646 | | | Cisco Systems, Inc. | | | 4,021,531 | | | | 1.8 | | |
| 39,823 | | | Cognizant Technology Solutions Corp. - Class A | | | 2,707,964 | | | | 1.2 | | |
| 94,081 (1) | | | DXC Technology Co. | | | 1,796,006 | | | | 0.8 | | |
| 14,378 (1) | | | F5, Inc. | | | 2,476,323 | | | | 1.1 | | |
| 74,217 | | | Intel Corp. | | | 2,298,501 | | | | 1.0 | | |
| 14,201 | | | Microsoft Corp. | | | 6,347,137 | | | | 2.8 | | |
| 12,255 | | | NXP Semiconductors NV | | | 3,297,698 | | | | 1.4 | | |
| 17,229 | | | Qualcomm, Inc. | | | 3,431,672 | | | | 1.5 | | |
| | | | | | | 26,376,832 | | | | 11.6 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco Comstock Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| COMMON STOCK: (continued) | | | | |
| | | | Materials: 3.3% | |
| 26,247 | | | CF Industries Holdings, Inc. | | $ | 1,945,428 | | | | 0.9 | | |
| 45,759 | | | Corteva, Inc. | | | 2,468,240 | | | | 1.1 | | |
| 69,935 | | | International Paper Co. | | | 3,017,695 | | | | 1.3 | | |
| | | | | | | 7,431,363 | | | | 3.3 | | |
| | | | | | | | | | | | | |
| | | | Real Estate: 0.4% | |
| 4,099 | | | SBA Communications Corp. | | | 804,634 | | | | 0.4 | | |
| | | | | | | | | | | | | |
| | | | Utilities: 1.2% | |
| 57,996 | | | Dominion Energy, Inc. | | | 2,841,804 | | | | 1.2 | | |
| | | | | | | | | | | | | |
| | | | Total Common Stock | | | | | | | | | |
| | | | (Cost $176,919,200) | | | 216,317,271 | | | | 95.1 | | |
| Shares | | | | | Value | | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: 4.6% | | | | |
| | | | Mutual Funds: 4.6% | | | | | | | | | |
| 110,430,418 (2) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210% | | | | | | | | | |
| | | | (Cost $10,430,418) | | $ | 10,430,418 | | | | 4.6 | | |
| | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | | |
| | | | (Cost $10,430,418) | | | 10,430,418 | | | | 4.6 | | |
| | | | | | | | | | | | | |
| | | | Total Investments in Securities | | | | | | | | | |
| | | | (Cost $187,349,618) | | $ | 226,747,689 | | | | 99.7 | | |
| | | | | | | | | | | | | |
| | | | Assets in Excess of Other Liabilities | | | 631,159 | | | | 0.3 | | |
| | | | Net Assets | | $ | 227,378,848 | | | | 100.0 | | |
| ADR | American Depositary Receipt |
| (1) | Non-income producing security. |
| (2) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| VY® Invesco Comstock Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 20,274,598 | | | $ | — | | | $ | — | | | $ | 20,274,598 | |
| Consumer Discretionary | | | 8,183,563 | | | | — | | | | — | | | | 8,183,563 | |
| Consumer Staples | | | 19,072,286 | | | | 2,204,373 | | | | — | | | | 21,276,659 | |
| Energy | | | 22,585,777 | | | | — | | | | — | | | | 22,585,777 | |
| Financials | | | 44,151,661 | | | | — | | | | — | | | | 44,151,661 | |
| Health Care | | | 33,028,382 | | | | 2,507,861 | | | | — | | | | 35,536,243 | |
| Industrials | | | 26,854,137 | | | | — | | | | — | | | | 26,854,137 | |
| Information Technology | | | 26,376,832 | | | | — | | | | — | | | | 26,376,832 | |
| Materials | | | 7,431,363 | | | | — | | | | — | | | | 7,431,363 | |
| Real Estate | | | 804,634 | | | | — | | | | — | | | | 804,634 | |
| Utilities | | | 2,841,804 | | | | — | | | | — | | | | 2,841,804 | |
| Total Common Stock | | | 211,605,037 | | | | 4,712,234 | | | | — | | | | 216,317,271 | |
| Short-Term Investments | | | 10,430,418 | | | | — | | | | — | | | | 10,430,418 | |
| Total Investments, at fair value | | $ | 222,035,455 | | | $ | 4,712,234 | | | $ | — | | | $ | 226,747,689 | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | | — | | | | 42,660 | | | | — | | | | 42,660 | |
| Total Assets | | $ | 222,035,455 | | | $ | 4,754,894 | | | $ | — | | | $ | 226,790,349 | |
| Liabilities Table | | | | | | | | | | | | | | | | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | $ | — | | | $ | (5,152 | ) | | $ | — | | | $ | (5,152 | ) |
| Total Liabilities | | $ | — | | | $ | (5,152 | ) | | $ | — | | | $ | (5,152 | ) |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
At June 30, 2024, the following forward foreign currency contracts were outstanding for VY® Invesco Comstock Portfolio:
| Currency Purchased | | Currency Sold | | Counterparty | | Settlement Date | | Unrealized
Appreciation
(Depreciation) | |
| CAD | | | 103,275 | | | USD | | | 75,218 | | | CIBC World Markets Corp. | | 07/12/24 | | $ | 290 | |
| EUR | | | 39,283 | | | USD | | | 42,089 | | | CIBC World Markets Corp. | | 07/12/24 | | | 2 | |
| EUR | | | 68,589 | | | USD | | | 73,460 | | | Deutsche Bank AG | | 07/12/24 | | | 31 | |
| USD | | | 56,606 | | | CAD | | | 77,454 | | | Deutsche Bank AG | | 07/12/24 | | | (24 | ) |
| USD | | | 70,267 | | | EUR | | | 65,520 | | | Goldman Sachs International | | 07/12/24 | | | 65 | |
| EUR | | | 50,163 | | | USD | | | 53,891 | | | Goldman Sachs International | | 07/12/24 | | | (143 | ) |
| GBP | | | 46,547 | | | USD | | | 59,577 | | | JPMorgan Chase Bank N.A. | | 07/12/24 | | | (733 | ) |
| USD | | | 1,893,450 | | | EUR | | | 1,746,635 | | | RBC Capital Markets Corp. | | 07/12/24 | | | 21,981 | |
| USD | | | 2,909,922 | | | GBP | | | 2,285,878 | | | RBC Capital Markets Corp. | | 07/12/24 | | | 20,174 | |
| USD | | | 37,678 | | | EUR | | | 35,055 | | | RBC Capital Markets Corp. | | 07/12/24 | | | 117 | |
| USD | | | 48,218 | | | EUR | | | 45,131 | | | RBC Capital Markets Corp. | | 07/12/24 | | | (139 | ) |
| USD | | | 2,300,652 | | | CAD | | | 3,152,288 | | | RBC Capital Markets Corp. | | 07/12/24 | | | (4,113 | ) |
| | | | | | | | | | | | | | | | | $ | 37,508 | |
| Currency Abbreviations: | Currency Abbreviations: |
| | |
| CAD — Canadian Dollar | EUR — EU Euro |
See Accompanying Notes to Financial Statements
| VY® Invesco Comstock Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Currency Abbreviations: |
| |
| GBP | — | British Pound |
| USD | — | United States Dollar |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of June 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | | Location on Statement
of Assets and Liabilities | | Fair Value |
| Asset Derivatives | | | | | |
| Foreign exchange contracts | | Unrealized appreciation on forward foreign currency contracts | | $ | 42,660 |
| Total Asset Derivatives | | | | $ | 42,660 |
| Liability Derivatives | | | | | |
| Foreign exchange contracts | | Unrealized depreciation on forward foreign currency contracts | | $ | 5,152 |
| Total Liability Derivatives | | | | $ | 5,152 |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts |
| Foreign exchange contracts | | $ | 132,226 | |
| Total | | $ | 132,226 | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts |
| Foreign exchange contracts | | $ | 93,143 |
| Total | | $ | 93,143 |
The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2024:
| | | CIBC World
Markets Corp. | | | Deutsche
Bank AG | | | Goldman
Sachs
International | | | JPMorgan
Chase Bank
N.A. | | | RBC Capital
Markets Corp. | | | Total | |
| Assets: | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 292 | | | $ | 31 | | | $ | 65 | | | $ | — | | | $ | 42,272 | | | $ | 42,660 | |
| Total Assets | | $ | 292 | | | $ | 31 | | | $ | 65 | | | $ | — | | | $ | 42,272 | | | $ | 42,660 | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | — | | | $ | 24 | | | $ | 143 | | | $ | 733 | | | $ | 4,252 | | | $ | 5,152 | |
| Total Liabilities | | $ | — | | | $ | 24 | | | $ | 143 | | | $ | 733 | | | $ | 4,252 | | | $ | 5,152 | |
| Net OTC derivative instruments by counterparty, at fair value | | $ | 292 | | | $ | 7 | | | $ | (78 | ) | | $ | (733 | ) | | $ | 38,020 | | | $ | 37,508 | |
| Total collateral pledged by the Portfolio/(Received from counterparty) | | $ | — | | | $ | – | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Net Exposure(1) | | $ | 292 | | | $ | 7 | | | $ | (78 | ) | | $ | (733 | ) | | $ | 38,020 | | | $ | 37,508 | |
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
See Accompanying Notes to Financial Statements
| VY® Invesco Comstock Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $192,738,028. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 49,225,129 | |
| Gross Unrealized Depreciation | | | (15,177,683 | ) |
| Net Unrealized Appreciation | | $ | 34,047,446 | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 62.9% | | | | |
| | | | Communication Services: 4.5% | |
| 88,196 | | | Alphabet, Inc. - Class A | | $ | 16,064,901 | | | | 1.6 | | |
| 116,240 | | | Comcast Corp. - Class A | | | 4,551,958 | | | | 0.4 | | |
| 15,167 | | | Meta Platforms, Inc. - Class A | | | 7,647,505 | | | | 0.8 | | |
| 50,071 | | | T-Mobile US, Inc. | | | 8,821,509 | | | | 0.9 | | |
| 77,969 | | | Walt Disney Co. | | | 7,741,542 | | | | 0.8 | | |
| | | | | | | 44,827,415 | | | | 4.5 | | |
| | | | | | | | | | | | | |
| | | | Consumer Discretionary: 3.8% | |
| 72,428 (1) | | | Amazon.com, Inc. | | | 13,996,711 | | | | 1.4 | | |
| 168,793 | | | General Motors Co. | | | 7,842,123 | | | | 0.8 | | |
| 43,034 | | | Genuine Parts Co. | | | 5,952,463 | | | | 0.6 | | |
| 124,735 | | | Las Vegas Sands Corp. | | | 5,519,523 | | | | 0.5 | | |
| 42,748 | | | TJX Cos., Inc. | | | 4,706,555 | | | | 0.5 | | |
| | | | | | | 38,017,375 | | | | 3.8 | | |
| | | | | | | | | | | | | |
| | | | Consumer Staples: 3.4% | |
| 201,227 | | | Kraft Heinz Co. | | | 6,483,534 | | | | 0.7 | | |
| 112,277 | | | Philip Morris International, Inc. | | | 11,377,028 | | | | 1.1 | | |
| 122,789 | | | Sysco Corp. | | | 8,765,907 | | | | 0.9 | | |
| 129,770 (1) | | | US Foods Holding Corp. | | | 6,875,215 | | | | 0.7 | | |
| | | | | | | 33,501,684 | | | | 3.4 | | |
| | | | | | | | | | | | | |
| | | | Energy: 5.7% | |
| 65,961 | | | Chevron Corp. | | | 10,317,620 | | | | 1.0 | | |
| 103,666 | | | ConocoPhillips | | | 11,857,317 | | | | 1.2 | | |
| 131,743 | | | Exxon Mobil Corp. | | | 15,166,254 | | | | 1.5 | | |
| 34,580 | | | Phillips 66 | | | 4,881,659 | | | | 0.5 | | |
| 189,532 | | | Shell PLC | | | 6,798,106 | | | | 0.7 | | |
| 201,926 | | | Suncor Energy, Inc. | | | 7,697,409 | | | | 0.8 | | |
| | | | | | | 56,718,365 | | | | 5.7 | | |
| | | | | | | | | | | | | |
| | | | Financials: 14.1% | |
| 39,033 | | | Allstate Corp. | | | 6,232,009 | | | | 0.6 | | |
| 24,764 | | | American Express Co. | | | 5,734,104 | | | | 0.6 | | |
| 132,345 | | | American International Group, Inc. | | | 9,825,293 | | | | 1.0 | | |
| 553,683 | | | Bank of America Corp. | | | 22,019,973 | | | | 2.2 | | |
| 129,591 | | | Charles Schwab Corp. | | | 9,549,561 | | | | 1.0 | | |
| 254,794 | | | Citizens Financial Group, Inc. | | | 9,180,228 | | | | 0.9 | | |
| 73,634 | | | Fidelity National Information Services, Inc. | | | 5,549,058 | | | | 0.6 | | |
| 71,449 (1) | | | Fiserv, Inc. | | | 10,648,759 | | | | 1.1 | | |
| 22,057 | | | Goldman Sachs Group, Inc. | | | 9,976,822 | | | | 1.0 | | |
| 72,164 | | | KKR & Co., Inc. | | | 7,594,539 | | | | 0.8 | | |
| 62,748 | | | PNC Financial Services Group, Inc. | | | 9,756,059 | | | | 1.0 | | |
| 375,951 | | | Wells Fargo & Co. | | | 22,327,730 | | | | 2.2 | | |
| 41,697 | | | Willis Towers Watson PLC | | | 10,930,452 | | | | 1.1 | | |
| | | | | | | 139,324,587 | | | | 14.1 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | |
| | | | Health Care: 8.8% | |
| 170,353 | | | Bristol-Myers Squibb Co. | | $ | 7,074,760 | | | | 0.7 | | |
| 75,130 (1) | | | Centene Corp. | | | 4,981,119 | | | | 0.5 | | |
| 15,722 | | | Cigna Group | | | 5,197,222 | | | | 0.5 | | |
| 79,009 | | | CVS Health Corp. | | | 4,666,272 | | | | 0.5 | | |
| 10,134 | | | Elevance Health, Inc. | | | 5,491,209 | | | | 0.6 | | |
| 54,396 | | | GE HealthCare Technologies, Inc. | | | 4,238,536 | | | | 0.4 | | |
| 219,657 | | | GSK PLC | | | 4,224,913 | | | | 0.4 | | |
| 20,943 | | | Humana, Inc. | | | 7,825,352 | | | | 0.8 | | |
| 82,853 | | | Johnson & Johnson | | | 12,109,794 | | | | 1.2 | | |
| 120,517 | | | Medtronic PLC | | | 9,485,893 | | | | 1.0 | | |
| 58,139 | | | Merck & Co., Inc. | | | 7,197,608 | | | | 0.7 | | |
| 176,068 | | | Pfizer, Inc. | | | 4,926,383 | | | | 0.5 | | |
| 96,225 | | | Sanofi | | | 9,280,241 | | | | 0.9 | | |
| 1,332 | | | UnitedHealth Group, Inc. | | | 678,334 | | | | 0.1 | | |
| | | | | | | 87,377,636 | | | | 8.8 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 9.2% | |
| 237,742 | | | CSX Corp. | | | 7,952,470 | | | | 0.8 | | |
| 59,373 | | | Emerson Electric Co. | | | 6,540,530 | | | | 0.7 | | |
| 31,649 | | | FedEx Corp. | | | 9,489,636 | | | | 0.9 | | |
| 45,736 | | | Ferguson PLC | | | 8,856,776 | | | | 0.9 | | |
| 34,494 | | | JB Hunt Transport Services, Inc. | | | 5,519,040 | | | | 0.5 | | |
| 189,323 | | | Johnson Controls International PLC | | | 12,584,300 | | | | 1.3 | | |
| 36,381 | | | Norfolk Southern Corp. | | | 7,810,637 | | | | 0.8 | | |
| 25,347 | | | Parker-Hannifin Corp. | | | 12,820,766 | | | | 1.3 | | |
| 98,036 | | | Raytheon Technologies Corp. | | | 9,841,834 | | | | 1.0 | | |
| 57,398 | | | Stanley Black & Decker, Inc. | | | 4,585,526 | | | | 0.5 | | |
| 63,117 | | | Textron, Inc. | | | 5,419,226 | | | | 0.5 | | |
| | | | | | | 91,420,741 | | | | 9.2 | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 8.1% | |
| 138,736 | | | Cisco Systems, Inc. | | | 6,591,347 | | | | 0.7 | | |
| 100,126 | | | Cognizant Technology Solutions Corp. - Class A | | | 6,808,568 | | | | 0.7 | | |
| 195,984 | | | Intel Corp. | | | 6,069,625 | | | | 0.6 | | |
| 5,641 | | | Lam Research Corp. | | | 6,006,819 | | | | 0.6 | | |
| 43,450 | | | Microchip Technology, Inc. | | | 3,975,675 | | | | 0.4 | | |
| 78,246 | | | Micron Technology, Inc. | | | 10,291,696 | | | | 1.1 | | |
| 28,118 | | | NXP Semiconductors NV | | | 7,566,273 | | | | 0.8 | | |
| 85,355 | | | Oracle Corp. | | | 12,052,126 | | | | 1.2 | | |
| 28,198 | | | Salesforce, Inc. | | | 7,249,706 | | | | 0.7 | | |
| 41,079 | | | TE Connectivity Ltd. | | | 6,179,514 | | | | 0.6 | | |
| 22,527 (1) | | | Zebra Technologies Corp. - Class A | | | 6,959,266 | | | | 0.7 | | |
| | | | | | | 79,750,615 | | | | 8.1 | | |
| | | | | | | | | | | | | |
| | | | Materials: 2.1% | |
| 264,987 | | | Barrick Gold Corp. | | | 4,419,983 | | | | 0.4 | | |
| 87,863 | | | Corteva, Inc. | | | 4,739,330 | | | | 0.5 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | | | |
| | | | Materials: (continued) | |
| 89,584 | | | DuPont de Nemours, Inc. | | $ | 7,210,616 | | | | 0.7 | | |
| 36,737 | | | PPG Industries, Inc. | | | 4,624,821 | | | | 0.5 | | |
| | | | | | | 20,994,750 | | | | 2.1 | | |
| | | | | | | | | | | | | |
| | | | Real Estate: 1.3% | |
| 143,617 (1) | | | CBRE Group, Inc. - Class A | | | 12,797,711 | | | | 1.3 | | |
| | | | | | | | | | | | | |
| | | | Utilities: 1.9% | |
| 72,394 | | | American Electric Power Co., Inc. | | | 6,351,850 | | | | 0.6 | | |
| 137,964 | | | FirstEnergy Corp. | | | 5,279,882 | | | | 0.5 | | |
| 270,782 | | | PPL Corp. | | | 7,487,122 | | | | 0.8 | | |
| | | | | | | 19,118,854 | | | | 1.9 | | |
| | | | | | | | | | | | | |
| | | | Total Common Stock | | | | | | | | | |
| | | | (Cost $508,432,826) | | | 623,849,733 | | | | 62.9 | | |
| | | | | | | | | | | | | |
| CONVERTIBLE BONDS/NOTES: 8.3% | | | | |
| | | | Communications: 2.9% | |
| 5,328,000 (2) | | | Airbnb, Inc., 5.340%, 03/15/2026 | | | 4,874,696 | | | | 0.5 | | |
| 2,761,000 | | | Cable One, Inc., 1.125%, 03/15/2028 | | | 2,063,238 | | | | 0.2 | | |
| 5,339,000 (2) | | | Cable One, Inc., 7.770%, 03/15/2026 | | | 4,698,320 | | | | 0.5 | | |
| 3,035,000 (3) | | | Liberty Broadband Corp., 3.125%, 03/31/2053 | | | 2,918,601 | | | | 0.3 | | |
| 2,950,000 | | | Liberty Latin America Ltd., 2.000%, 07/15/2024 | | | 2,937,389 | | | | 0.3 | | |
| 1,945,000 | | | Liberty Media Corp.- Liberty Formula One, 2.250%, 08/15/2027 | | | 2,072,713 | | | | 0.2 | | |
| 1,577,000 (3) | | | Match Group Financeco 2, Inc., 0.875%, 06/15/2026 | | | 1,434,047 | | | | 0.2 | | |
| 1,560,000 (3) | | | Match Group Financeco 3, Inc., 2.000%, 01/15/2030 | | | 1,287,099 | | | | 0.1 | | |
| 3,298,000 | | | Shopify, Inc., 0.125%, 11/01/2025 | | | 3,086,928 | | | | 0.3 | | |
| 2,853,000 (3) | | | Snap, Inc., 0.500%, 05/01/2030 | | | 2,952,855 | | | | 0.3 | | |
| | | | | | | 28,325,886 | | | | 2.9 | | |
| | | | | | | | | | | | | |
| | | | Consumer, Non-cyclical: 2.7% | |
| 3,300,000 | | | Alnylam Pharmaceuticals, Inc., 1.000%, 09/15/2027 | | | 3,564,000 | | | | 0.4 | | |
| 4,428,000 | | | Block, Inc., 0.125%, 03/01/2025 | | | 4,283,148 | | | | 0.4 | | |
| 4,126,000 (3) | | | Global Payments, Inc., 1.500%, 03/01/2031 | | | 3,797,983 | | | | 0.4 | | |
| 1,232,000 (3) | | | Haemonetics Corp., 2.500%, 06/01/2029 | | | 1,212,904 | | | | 0.1 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CONVERTIBLE BONDS/NOTES: (continued) | | | | |
| | | | Consumer, Non-cyclical: (continued) | |
| 4,845,000 (4) | | | Halozyme Therapeutics, Inc., 0.250%, 03/01/2027 | | $ | 4,643,011 | | | | 0.5 | | |
| 4,310,000 | | | Integra LifeSciences Holdings Corp., 0.500%, 08/15/2025 | | | 4,074,008 | | | | 0.4 | | |
| 3,697,000 (4) | | | Jazz Investments I Ltd., 2.000%, 06/15/2026 | | | 3,564,832 | | | | 0.4 | | |
| 1,305,000 (3) | | | Merit Medical Systems, Inc., 3.000%, 02/01/2029 | | | 1,530,113 | | | | 0.1 | | |
| 543,000 | | | Pacira BioSciences, Inc., 0.750%, 08/01/2025 | | | 510,691 | | | | 0.0 | | |
| | | | | | | 27,180,690 | | | | 2.7 | | |
| | | | | | | | | | | | | |
| | | | Energy: 0.2% | |
| 1,995,000 | | | Northern Oil and Gas, Inc., 3.625%, 04/15/2029 | | | 2,303,726 | | | | 0.2 | | |
| | | | | | | | | | | | | |
| | | | Financials: 0.2% | |
| 1,576,000 (3)(4) | | | Welltower OP LLC, 2.750%, 05/15/2028 | | | 1,876,240 | | | | 0.2 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 0.3% | |
| 3,162,000 | | | John Bean Technologies Corp., 0.250%, 05/15/2026 | | | 2,910,937 | | | | 0.3 | | |
| | | | | | | | | | | | | |
| | | | Technology: 1.0% | |
| 5,205,000 (2) | | | Dropbox, Inc., 4.040%, 03/01/2026 | | | 4,871,880 | | | | 0.5 | | |
| 4,876,000 (3) | | | Microchip Technology, Inc., 0.750%, 06/01/2030 | | | 4,935,487 | | | | 0.5 | | |
| | | | | | | 9,807,367 | | | | 1.0 | | |
| | | | | | | | | | | | | |
| | | | Utilities: 1.0% | |
| 4,887,000 | | | FirstEnergy Corp., 4.000%, 05/01/2026 | | | 4,857,678 | | | | 0.5 | | |
| 4,988,000 | | | PPL Capital Funding, Inc., 2.875%, 03/15/2028 | | | 4,789,727 | | | | 0.5 | | |
| | | | | | | 9,647,405 | | | | 1.0 | | |
| | | | | | | | | | | | | |
| | | | Total Convertible Bonds/Notes | | | | | | | | | |
| | | | (Cost $84,123,449) | | | 82,052,251 | | | | 8.3 | | |
| | | | | | | | | | | | | |
| CORPORATE BONDS/NOTES: 13.0% | | | | |
| | | | Basic Materials: 0.1% | |
| 195,000 | | | International Paper Co., 6.000%, 11/15/2041 | | | 196,041 | | | | 0.0 | | |
| 441,000 (3) | | | LYB Finance Co. BV, 8.100%, 03/15/2027 | | | 466,980 | | | | 0.1 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Basic Materials: (continued) | |
| 150,000 | | | Rio Tinto Finance USA Ltd., 7.125%, 07/15/2028 | | $ | 161,802 | | | | 0.0 | | |
| 211,000 | | | Sherwin-Williams Co., 4.500%, 06/01/2047 | | | 178,136 | | | | 0.0 | | |
| | | | | | | 1,002,959 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| | | | Communications: 1.2% | |
| 302,000 | | | Amazon.com, Inc., 2.875%, 05/12/2041 | | | 222,167 | | | | 0.0 | | |
| 455,000 | | | America Movil SAB de CV, 4.375%, 07/16/2042 | | | 387,888 | | | | 0.1 | | |
| 334,000 | | | AT&T, Inc., 3.550%, 09/15/2055 | | | 225,367 | | | | 0.0 | | |
| 533,000 | | | AT&T, Inc., 4.300%, 02/15/2030 | | | 510,787 | | | | 0.1 | | |
| 129,000 | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.908%, 07/23/2025 | | | 127,797 | | | | 0.0 | | |
| 305,000 | | | Cisco Systems, Inc., 5.300%, 02/26/2054 | | | 298,942 | | | | 0.0 | | |
| 171,000 | | | Comcast Corp., 2.887%, 11/01/2051 | | | 106,772 | | | | 0.0 | | |
| 283,000 | | | Comcast Corp., 2.937%, 11/01/2056 | | | 170,855 | | | | 0.0 | | |
| 1,119,000 | | | Comcast Corp., 3.150%, 03/01/2026 | | | 1,082,188 | | | | 0.1 | | |
| 910,000 | | | Comcast Corp., 3.900%, 03/01/2038 | | | 771,654 | | | | 0.1 | | |
| 1,055,000 | | | Comcast Corp., 4.150%, 10/15/2028 | | | 1,021,602 | | | | 0.1 | | |
| 188,000 (3) | | | Cox Communications, Inc., 2.950%, 10/01/2050 | | | 111,993 | | | | 0.0 | | |
| 373,000 | | | Discovery Communications LLC, 4.900%, 03/11/2026 | | | 367,675 | | | | 0.0 | | |
| 559,000 | | | Omnicom Group, Inc. / Omnicom Capital, Inc., 3.600%, 04/15/2026 | | | 541,033 | | | | 0.1 | | |
| 910,000 | | | Rogers Communications, Inc., 4.300%, 02/15/2048 | | | 721,893 | | | | 0.1 | | |
| 415,000 | | | Rogers Communications, Inc., 4.500%, 03/15/2043 | | | 346,873 | | | | 0.0 | | |
| 275,625 (3) | | | Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co. III LLC, 4.738%, 09/20/2029 | | | 273,944 | | | | 0.0 | | |
| 860,000 | | | Telefonica Emisiones SA, 5.213%, 03/08/2047 | | | 760,129 | | | | 0.1 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Communications: (continued) | |
| 1,025,000 | | | T-Mobile USA, Inc., 2.700%, 03/15/2032 | | $ | 857,848 | | | | 0.1 | | |
| 714,000 | | | T-Mobile USA, Inc., 3.400%, 10/15/2052 | | | 487,841 | | | | 0.1 | | |
| 284,000 | | | T-Mobile USA, Inc., 6.000%, 06/15/2054 | | | 293,919 | | | | 0.0 | | |
| 373,000 | | | TWDC Enterprises 18 Corp., 3.000%, 02/13/2026 | | | 359,772 | | | | 0.0 | | |
| 1,305,000 | | | Verizon Communications, Inc., 3.376%, 02/15/2025 | | | 1,287,273 | | | | 0.1 | | |
| 539,000 | | | Verizon Communications, Inc., 3.400%, 03/22/2041 | | | 412,414 | | | | 0.1 | | |
| | | | | | | 11,748,626 | | | | 1.2 | | |
| | | | | | | | | | | | | |
| | | | Consumer, Cyclical: 1.1% | |
| 381,369 | | | American Airlines Pass Through Trust 2014-1, A, 3.700%, 04/01/2028 | | | 364,635 | | | | 0.0 | | |
| 1,705,000 | | | Dollar General Corp., 4.250%, 09/20/2024 | | | 1,698,630 | | | | 0.2 | | |
| 563,000 | | | General Motors Co., 6.600%, 04/01/2036 | | | 589,439 | | | | 0.0 | | |
| 713,000 | | | General Motors Financial Co., Inc., 5.250%, 03/01/2026 | | | 709,429 | | | | 0.1 | | |
| 1,800,000 | | | Home Depot, Inc., 5.125%, 04/30/2025 | | | 1,797,036 | | | | 0.2 | | |
| 546,000 | | | Honda Motor Co. Ltd., 2.967%, 03/10/2032 | | | 479,254 | | | | 0.0 | | |
| 473,000 | | | Lowe’s Cos., Inc., 4.250%, 04/01/2052 | | | 372,012 | | | | 0.0 | | |
| 740,000 | | | Starbucks Corp., 3.550%, 08/15/2029 | | | 693,293 | | | | 0.1 | | |
| 465,663 | | | United Airlines Pass Through Trust 2014-2, A, 3.750%, 03/03/2028 | | | 449,791 | | | | 0.0 | | |
| 440,859 | | | United Airlines Pass Through Trust 2018-1, AA, 3.500%, 09/01/2031 | | | 407,994 | | | | 0.0 | | |
| 737,000 (4) | | | Walgreens Boots Alliance, Inc., 4.500%, 11/18/2034 | | | 623,731 | | | | 0.1 | | |
| 1,640,000 (4) | | | Warnermedia Holdings, Inc., 3.788%, 03/15/2025 | | | 1,616,386 | | | | 0.2 | | |
| 796,000 | | | Warnermedia Holdings, Inc., 5.050%, 03/15/2042 | | | 647,824 | | | | 0.1 | | |
| 989,000 | | | Warnermedia Holdings, Inc., 5.141%, 03/15/2052 | | | 770,543 | | | | 0.1 | | |
| | | | | | | 11,219,997 | | | | 1.1 | | |
| | | | | | | | | | | | | |
| | | | Consumer, Non-cyclical: 2.1% | |
| 200,000 | | | AbbVie, Inc., 4.050%, 11/21/2039 | | | 173,815 | | | | 0.0 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Consumer, Non-cyclical: (continued) | |
| 1,137,000 | | | AbbVie, Inc., 4.500%, 05/14/2035 | | $ | 1,072,964 | | | | 0.1 | | |
| 185,000 | | | AbbVie, Inc., 4.850%, 06/15/2044 | | | 171,451 | | | | 0.0 | | |
| 1,273,000 | | | Altria Group, Inc., 5.800%, 02/14/2039 | | | 1,274,932 | | | | 0.1 | | |
| 695,000 | | | Amgen, Inc., 5.250%, 03/02/2025 | | | 693,703 | | | | 0.1 | | |
| 1,475,000 | | | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., 4.700%, 02/01/2036 | | | 1,406,844 | | | | 0.2 | | |
| 216,000 | | | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., 4.900%, 02/01/2046 | | | 199,271 | | | | 0.0 | | |
| 498,000 (3) | | | Bayer US Finance II LLC, 4.375%, 12/15/2028 | | | 473,130 | | | | 0.1 | | |
| 274,000 (3) | | | Bayer US Finance LLC, 6.875%, 11/21/2053 | | | 281,671 | | | | 0.0 | | |
| 218,000 | | | Becton Dickinson & Co., 4.875%, 05/15/2044 | | | 187,204 | | | | 0.0 | | |
| 1,845,000 | | | Boston Scientific Corp., 1.900%, 06/01/2025 | | | 1,785,176 | | | | 0.2 | | |
| 654,000 | | | Bristol-Myers Squibb Co., 4.125%, 06/15/2039 | | | 567,818 | | | | 0.1 | | |
| 522,000 (4) | | | Bristol-Myers Squibb Co., 6.250%, 11/15/2053 | | | 561,041 | | | | 0.1 | | |
| 107,000 | | | Cigna Group, 4.800%, 08/15/2038 | | | 98,385 | | | | 0.0 | | |
| 620,000 | | | CVS Health Corp., 3.375%, 08/12/2024 | | | 618,214 | | | | 0.1 | | |
| 268,033 | | | CVS Pass-Through Trust, 6.036%, 12/10/2028 | | | 268,766 | | | | 0.0 | | |
| 1,920,000 | | | Gilead Sciences, Inc., 3.650%, 03/01/2026 | | | 1,867,123 | | | | 0.2 | | |
| 80,000 | | | GlaxoSmithKline Capital, Inc., 6.375%, 05/15/2038 | | | 88,266 | | | | 0.0 | | |
| 300,000 | | | Haleon US Capital LLC, 4.000%, 03/24/2052 | | | 238,483 | | | | 0.0 | | |
| 1,232,000 (3) | | | Heineken NV, 3.500%, 01/29/2028 | | | 1,174,962 | | | | 0.1 | | |
| 240,000 | | | Ingredion, Inc., 6.625%, 04/15/2037 | | | 262,182 | | | | 0.0 | | |
| 619,000 | | | Kenvue, Inc., 5.050%, 03/22/2053 | | | 584,298 | | | | 0.1 | | |
| 92,000 | | | Mead Johnson Nutrition Co., 4.125%, 11/15/2025 | | | 90,452 | | | | 0.0 | | |
| 413,000 | | | Medtronic, Inc., 4.375%, 03/15/2035 | | | 389,192 | | | | 0.0 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Consumer, Non-cyclical: (continued) | |
| 513,000 | | | Molson Coors Beverage Co., 4.200%, 07/15/2046 | | $ | 410,594 | | | | 0.0 | | |
| 1,055,000 | | | Philip Morris International, Inc., 3.250%, 11/10/2024 | | | 1,046,113 | | | | 0.1 | | |
| 200,000 | | | Philip Morris International, Inc., 4.875%, 11/15/2043 | | | 176,556 | | | | 0.0 | | |
| 845,000 | | | Sysco Corp., 3.750%, 10/01/2025 | | | 827,427 | | | | 0.1 | | |
| 1,930,000 | | | Thermo Fisher Scientific, Inc., 1.215%, 10/18/2024 | | | 1,905,337 | | | | 0.2 | | |
| 155,000 | | | UnitedHealth Group, Inc., 3.500%, 08/15/2039 | | | 125,309 | | | | 0.0 | | |
| 79,000 | | | Zoetis, Inc., 4.700%, 02/01/2043 | | | 70,605 | | | | 0.0 | | |
| 1,770,000 | | | Zoetis, Inc., 5.400%, 11/14/2025 | | | 1,769,282 | | | | 0.2 | | |
| | | | | | | 20,860,566 | | | | 2.1 | | |
| | | | | | | | | | | | | |
| | | | Energy: 1.3% | |
| 927,000 | | | BP Capital Markets America, Inc., 2.939%, 06/04/2051 | | | 588,962 | | | | 0.1 | | |
| 612,000 (3) | | | Cameron LNG LLC, 3.701%, 01/15/2039 | | | 496,163 | | | | 0.0 | | |
| 978,000 | | | Chevron Corp., 2.954%, 05/16/2026 | | | 941,339 | | | | 0.1 | | |
| 392,000 | | | ConocoPhillips Co., 4.150%, 11/15/2034 | | | 353,537 | | | | 0.0 | | |
| 435,000 | | | Diamondback Energy, Inc., 5.750%, 04/18/2054 | | | 422,002 | | | | 0.0 | | |
| 570,000 | | | Energy Transfer L.P., 4.900%, 03/15/2035 | | | 529,798 | | | | 0.1 | | |
| 723,000 | | | Energy Transfer L.P., 5.000%, 05/15/2050 | | | 614,229 | | | | 0.1 | | |
| 835,000 | | | Energy Transfer L.P., 5.300%, 04/01/2044 | | | 753,235 | | | | 0.1 | | |
| 423,000 | | | Energy Transfer L.P., 6.400%, 12/01/2030 | | | 445,057 | | | | 0.0 | | |
| 833,000 | | | Enterprise Products Operating LLC, 4.250%, 02/15/2048 | | | 681,569 | | | | 0.1 | | |
| 564,000 | | | Exxon Mobil Corp., 2.709%, 03/06/2025 | | | 554,036 | | | | 0.1 | | |
| 1,128,000 | | | Exxon Mobil Corp., 3.043%, 03/01/2026 | | | 1,091,617 | | | | 0.1 | | |
| 902,000 | | | Kinder Morgan, Inc., 4.300%, 06/01/2025 | | | 890,575 | | | | 0.1 | | |
| 700,000 | | | Kinder Morgan, Inc., 5.300%, 12/01/2034 | | | 678,777 | | | | 0.1 | | |
| 973,000 | | | MPLX L.P., 4.500%, 04/15/2038 | | | 848,981 | | | | 0.1 | | |
| 1,128,000 | | | Shell International Finance BV, 3.250%, 05/11/2025 | | | 1,108,045 | | | | 0.1 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Energy: (continued) | |
| 858,000 | | | Spectra Energy Partners L.P., 4.500%, 03/15/2045 | | $ | 702,019 | | | | 0.1 | | |
| 215,000 | | | Texas Eastern Transmission L.P., 7.000%, 07/15/2032 | | | 234,676 | | | | 0.0 | | |
| 507,000 | | | Valero Energy Corp., 4.000%, 06/01/2052 | | | 372,063 | | | | 0.0 | | |
| 499,000 | | | Williams Cos., Inc., 5.400%, 03/02/2026 | | | 498,752 | | | | 0.0 | | |
| | | | | | | 12,805,432 | | | | 1.3 | | |
| | | | | | | | | | | | | |
| | | | Financial: 0.4% | |
| 1,355,000 | | | Air Lease Corp., MTN, 2.300%, 02/01/2025 | | | 1,326,265 | | | | 0.2 | | |
| 879,000 | | | Brixmor Operating Partnership L.P., 5.500%, 02/15/2034 | | | 864,321 | | | | 0.1 | | |
| 264,000 (4)(5) | | | Citizens Financial Group, Inc., 6.645%, 04/25/2035 | | | 273,010 | | | | 0.0 | | |
| 1,086,000 (3) | | | GA Global Funding Trust, 5.500%, 01/08/2029 | | | 1,086,554 | | | | 0.1 | | |
| 212,000 (3) | | | Global Atlantic Fin Co., 6.750%, 03/15/2054 | | | 209,838 | | | | 0.0 | | |
| | | | | | | 3,759,988 | | | | 0.4 | | |
| | | | | | | | | | | | | |
| | | | Financials: 4.0% | |
| 391,000 | | | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.850%, 10/29/2041 | | | 306,062 | | | | 0.0 | | |
| 1,870,000 | | | Air Lease Corp., 4.250%, 09/15/2024 | | | 1,863,822 | | | | 0.2 | | |
| 410,000 | | | Allstate Corp., 3.280%, 12/15/2026 | | | 392,452 | | | | 0.0 | | |
| 393,000 (4) | | | American Equity Investment Life Holding Co., 5.000%, 06/15/2027 | | | 384,186 | | | | 0.0 | | |
| 543,000 (4) | | | American Express Co., 3.625%, 12/05/2024 | | | 538,717 | | | | 0.1 | | |
| 831,000 | | | American Tower Corp., 1.600%, 04/15/2026 | | | 776,170 | | | | 0.1 | | |
| 1,095,000 (3) | | | Aviation Capital Group LLC, 4.875%, 10/01/2025 | | | 1,080,918 | | | | 0.1 | | |
| 834,000 (5) | | | Bank of America Corp., 2.572%, 10/20/2032 | | | 691,561 | | | | 0.1 | | |
| 720,000 | | | Bank of America Corp., MTN, 3.248%, 10/21/2027 | | | 681,211 | | | | 0.1 | | |
| 1,281,000 | | | BlackRock, Inc., 4.750%, 05/25/2033 | | | 1,256,755 | | | | 0.1 | | |
| 1,760,000 | | | Brighthouse Financial, Inc., 3.850%, 12/22/2051 | | | 1,120,873 | | | | 0.1 | | |
| 765,000 | | | Brookfield Corp., 4.000%, 01/15/2025 | | | 757,593 | | | | 0.1 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Financials: (continued) | | | | | | | | | |
| 630,000 (5) | | | Citigroup, Inc., 3.668%, 07/24/2028 | | $ | 600,715 | | | | 0.1 | | |
| 1,930,000 | | | Citigroup, Inc., 4.000%, 08/05/2024 | | | 1,926,138 | | | | 0.2 | | |
| 520,000 | | | Citigroup, Inc., 4.750%, 05/18/2046 | | | 446,549 | | | | 0.0 | | |
| 260,000 | | | Citigroup, Inc., 5.300%, 05/06/2044 | | | 242,537 | | | | 0.0 | | |
| 560,000 | | | Citigroup, Inc., 6.675%, 09/13/2043 | | | 611,842 | | | | 0.1 | | |
| 1,348,000 | | | Crown Castle, Inc., 2.500%, 07/15/2031 | | | 1,114,270 | | | | 0.1 | | |
| 60,000 | | | Crown Castle, Inc., 4.750%, 05/15/2047 | | | 51,225 | | | | 0.0 | | |
| 1,013,000 (4) | | | CubeSmart L.P., 2.500%, 02/15/2032 | | | 829,404 | | | | 0.1 | | |
| 2,088,000 (3) | | | Delaware Life Global Funding 21-1, 2.662%, 06/29/2026 | | | 1,947,591 | | | | 0.2 | | |
| 2,275,000 | | | EPR Properties, 4.750%, 12/15/2026 | | | 2,199,368 | | | | 0.2 | | |
| 587,000 | | | Extra Space Storage L.P., 3.500%, 07/01/2026 | | | 564,887 | | | | 0.1 | | |
| 346,000 | | | Extra Space Storage L.P., 5.700%, 04/01/2028 | | | 350,057 | | | | 0.0 | | |
| 307,000 (5) | | | Goldman Sachs Group, Inc., 2.908%, 07/21/2042 | | | 215,741 | | | | 0.0 | | |
| 820,000 | | | Goldman Sachs Group, Inc., 4.250%, 10/21/2025 | | | 805,985 | | | | 0.1 | | |
| 1,790,000 (5) | | | HSBC Holdings PLC, 2.633%, 11/07/2025 | | | 1,769,354 | | | | 0.2 | | |
| 550,000 (4) | | | JPMorgan Chase & Co., 3.200%, 06/15/2026 | | | 529,714 | | | | 0.1 | | |
| 1,270,000 (5) | | | JPMorgan Chase & Co., 3.509%, 01/23/2029 | | | 1,201,491 | | | | 0.1 | | |
| 1,270,000 (5) | | | JPMorgan Chase & Co., 3.897%, 01/23/2049 | | | 1,001,340 | | | | 0.1 | | |
| 675,000 (5) | | | JPMorgan Chase & Co., 4.260%, 02/22/2048 | | | 565,677 | | | | 0.1 | | |
| 1,210,000 | | | Kimco Realty OP LLC, 3.200%, 04/01/2032 | | | 1,039,091 | | | | 0.1 | | |
| 443,000 (3) | | | KKR Group Finance Co. III LLC, 5.125%, 06/01/2044 | | | 400,201 | | | | 0.0 | | |
| 1,059,000 (3) | | | KKR Group Finance Co. XII LLC, 4.850%, 05/17/2032 | | | 1,018,011 | | | | 0.1 | | |
| 950,000 (3) | | | Liberty Mutual Group, Inc., 3.950%, 05/15/2060 | | | 653,622 | | | | 0.1 | | |
| 285,000 | | | Markel Group, Inc., 5.000%, 03/30/2043 | | | 254,929 | | | | 0.0 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Financials: (continued) | |
| 525,000 | | | Markel Group, Inc., 5.000%, 05/20/2049 | | $ | 464,784 | | | | 0.1 | | |
| 1,040,000 | | | Morgan Stanley, GMTN, 4.000%, 07/23/2025 | | | 1,024,753 | | | | 0.1 | | |
| 159,000 | | | Nasdaq, Inc., 5.950%, 08/15/2053 | | | 160,826 | | | | 0.0 | | |
| 1,000,000 (3) | | | Nationwide Financial Services, Inc., 5.300%, 11/18/2044 | | | 914,226 | | | | 0.1 | | |
| 1,166,000 (3) | | | Pacific Life Global Funding II, 5.500%, 08/28/2026 | | | 1,171,692 | | | | 0.1 | | |
| 590,000 | | | PartnerRe Finance B LLC, 3.700%, 07/02/2029 | | | 552,588 | | | | 0.1 | | |
| 755,000 | | | PNC Financial Services Group, Inc., 3.450%, 04/23/2029 | | | 700,427 | | | | 0.1 | | |
| 397,000 (5) | | | PNC Financial Services Group, Inc., 6.875%, 10/20/2034 | | | 432,877 | | | | 0.0 | | |
| 200,000 | | | Regency Centers L.P., 2.950%, 09/15/2029 | | | 179,723 | | | | 0.0 | | |
| 300,000 | | | Regency Centers L.P., 4.650%, 03/15/2049 | | | 248,220 | | | | 0.0 | | |
| 670,000 | | | Synchrony Financial, 3.950%, 12/01/2027 | | | 626,013 | | | | 0.1 | | |
| 445,000 | | | Travelers Cos., Inc., 4.600%, 08/01/2043 | | | 400,473 | | | | 0.0 | | |
| 585,000 (3) | | | UBS Group AG, 4.125%, 04/15/2026 | | | 570,563 | | | | 0.1 | | |
| 410,000 (4) | | | US Bancorp, MTN, 3.100%, 04/27/2026 | | | 393,372 | | | | 0.0 | | |
| 965,000 | | | Wells Fargo & Co., MTN, 3.550%, 09/29/2025 | | | 942,412 | | | | 0.1 | | |
| 470,000 | | | Wells Fargo & Co., MTN, 4.100%, 06/03/2026 | | | 458,058 | | | | 0.0 | | |
| 300,000 | | | Wells Fargo & Co., MTN, 4.650%, 11/04/2044 | | | 253,611 | | | | 0.0 | | |
| | | | | | | 39,684,677 | | | | 4.0 | | |
| | | | | | | | | | | | | |
| | | | Industrial: 0.1% | |
| 265,000 (3) | | | BAE Systems PLC, 5.500%, 03/26/2054 | | | 259,292 | | | | 0.0 | | |
| 393,000 | | | Carrier Global Corp., 6.200%, 03/15/2054 | | | 421,146 | | | | 0.0 | | |
| 488,000 | | | Lockheed Martin Corp., 5.200%, 02/15/2064 | | | 461,808 | | | | 0.1 | | |
| | | | | | | 1,142,246 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 1.0% | |
| 970,000 | | | Avnet, Inc., 4.625%, 04/15/2026 | | | 954,220 | | | | 0.1 | | |
| 1,585,000 | | | Boeing Co., 5.805%, 05/01/2050 | | | 1,429,449 | | | | 0.2 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Industrials: (continued) | |
| 381,000 | | | Canadian Pacific Railway Co., 3.000%, 12/02/2041 | | $ | 329,198 | | | | 0.0 | | |
| 295,000 | | | FedEx Corp., 4.900%, 01/15/2034 | | | 287,438 | | | | 0.0 | | |
| 1,398,000 | | | Honeywell International, Inc., 4.500%, 01/15/2034 | | | 1,342,681 | | | | 0.1 | | |
| 1,295,000 | | | Lockheed Martin Corp., 3.550%, 01/15/2026 | | | 1,264,339 | | | | 0.1 | | |
| 500,000 | | | Lockheed Martin Corp., 4.150%, 06/15/2053 | | | 403,774 | | | | 0.1 | | |
| 459,000 | | | Norfolk Southern Corp., 3.400%, 11/01/2049 | | | 321,250 | | | | 0.0 | | |
| 446,000 | | | Norfolk Southern Corp., 5.350%, 08/01/2054 | | | 425,672 | | | | 0.1 | | |
| 345,000 | | | Raytheon Technologies Corp., 4.450%, 11/16/2038 | | | 304,838 | | | | 0.0 | | |
| 262,000 | | | Rockwell Automation, Inc., 1.750%, 08/15/2031 | | | 211,569 | | | | 0.0 | | |
| 545,000 | | | RTX Corp., 6.400%, 03/15/2054 | | | 594,656 | | | | 0.1 | | |
| 970,000 | | | Union Pacific Corp., 3.200%, 05/20/2041 | | | 734,310 | | | | 0.1 | | |
| 375,000 | | | Union Pacific Corp., 3.839%, 03/20/2060 | | | 275,796 | | | | 0.0 | | |
| 730,000 | | | Union Pacific Corp., 4.150%, 01/15/2045 | | | 587,732 | | | | 0.1 | | |
| 330,000 | | | United Parcel Service, Inc., 3.400%, 11/15/2046 | | | 244,628 | | | | 0.0 | | |
| | | | | | | 9,711,550 | | | | 1.0 | | |
| | | | | | | | | | | | | |
| | | | Technology: 1.1% | |
| 435,000 | | | Apple, Inc., 3.350%, 02/09/2027 | | | 419,467 | | | | 0.0 | | |
| 1,030,000 (3) | | | Broadcom, Inc., 3.469%, 04/15/2034 | | | 878,421 | | | | 0.1 | | |
| 754,000 | | | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | | | 762,172 | | | | 0.1 | | |
| 4,000 | | | Dell International LLC / EMC Corp., 8.350%, 07/15/2046 | | | 5,064 | | | | 0.0 | | |
| 1,972,000 (4) | | | Envestnet, Inc., 2.625%, 12/01/2027 | | | 2,122,858 | | | | 0.2 | | |
| 170,000 | | | Fiserv, Inc., 2.750%, 07/01/2024 | | | 170,000 | | | | 0.0 | | |
| 1,152,000 | | | Marvell Technology, Inc., 2.450%, 04/15/2028 | | | 1,039,993 | | | | 0.1 | | |
| 170,000 | | | Micron Technology, Inc., 3.366%, 11/01/2041 | | | 124,478 | | | | 0.0 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| CORPORATE BONDS/NOTES: (continued) | | | | |
| | | | Technology: (continued) | |
| 200,000 | | | Micron Technology, Inc., 4.663%, 02/15/2030 | | $ | 193,904 | | | | 0.0 | | |
| 649,000 (4) | | | Microsoft Corp., 3.500%, 02/12/2035 | | | 588,224 | | | | 0.1 | | |
| 795,000 | | | NXP BV / NXP Funding LLC, 5.350%, 03/01/2026 | | | 793,044 | | | | 0.1 | | |
| 985,000 | | | Oracle Corp., 3.600%, 04/01/2040 | | | 757,639 | | | | 0.1 | | |
| 1,000,000 | | | Salesforce, Inc., 2.700%, 07/15/2041 | | | 700,322 | | | | 0.1 | | |
| 341,000 | | | Take-Two Interactive Software, Inc., 3.700%, 04/14/2027 | | | 327,897 | | | | 0.0 | | |
| 1,441,000 | | | VMware, Inc., 1.000%, 08/15/2024 | | | 1,432,221 | | | | 0.1 | | |
| 502,000 (4) | | | Workday, Inc., 3.500%, 04/01/2027 | | | 480,366 | | | | 0.1 | | |
| | | | | | | 10,796,070 | | | | 1.1 | | |
| | | | | | | | | | | | | |
| | | | Utilities: 0.6% | |
| 262,000 | | | Constellation Energy Generation LLC, 6.500%, 10/01/2053 | | | 278,362 | | | | 0.0 | | |
| 620,000 (3) | | | Electricite de France SA, 4.875%, 01/22/2044 | | | 542,913 | | | | 0.1 | | |
| 345,000 | | | Georgia Power Co. B, 3.700%, 01/30/2050 | | | 255,000 | | | | 0.0 | | |
| 989,000 | | | National Rural Utilities Cooperative Finance Corp., 2.750%, 04/15/2032 | | | 835,077 | | | | 0.1 | | |
| 703,000 | | | NextEra Energy Capital Holdings, Inc., 3.550%, 05/01/2027 | | | 671,425 | | | | 0.1 | | |
| 1,390,000 | | | NextEra Energy Capital Holdings, Inc., 5.749%, 09/01/2025 | | | 1,393,502 | | | | 0.1 | | |
| 760,000 | | | NiSource, Inc., 4.375%, 05/15/2047 | | | 612,088 | | | | 0.1 | | |
| 605,000 | | | Oglethorpe Power Corp., 4.550%, 06/01/2044 | | | 491,368 | | | | 0.0 | | |
| 667,000 | | | Sempra, 3.800%, 02/01/2038 | | | 545,427 | | | | 0.1 | | |
| 274,000 | | | Xcel Energy, Inc., 3.500%, 12/01/2049 | | | 185,834 | | | | 0.0 | | |
| | | | | | | 5,810,996 | | | | 0.6 | | |
| | | | | | | | | | | | | |
| | | | Total Corporate Bonds/ Notes | | | | | | | | | |
| | | | (Cost $139,138,602) | | | 128,543,107 | | | | 13.0 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| EQUITY-LINKED NOTES: 2.0% | | | | |
| | | | Financials: 2.0% | |
| 5,678,000 (6) | | | GS Finance Corp. (Guarantor: The Goldman Sachs Group, Inc.) Exchangeable Basket (Basket of 3 Common Stocks), 0.500%, 04/11/2028 | | $ | 6,581,937 | | | | 0.7 | | |
| 5,900,000 (2)(6) | | | GS Finance Corp. (Guarantor: The Goldman Sachs Group, Inc.) Exchangeable Basket (Basket of 5 Common Stocks), (4.210)%, 07/19/2029 | | | 7,333,110 | | | | 0.7 | | |
| 5,893,000 (2)(6) | | | GS Finance Corp. (Guarantor: The Goldman Sachs Group, Inc.) Exchangeable Basket (Basket of 5 Common Stocks), (1.280)%, 07/30/2029 | | | 6,293,135 | | | | 0.6 | | |
| | | | | | | 20,208,182 | | | | 2.0 | | |
| | | | | | | | | | | | | |
| | | | Total Equity-Linked Notes | | | | | | | | | |
| | | | (Cost $17,578,287) | | | 20,208,182 | | | | 2.0 | | |
| | | | | | | | | | | | | |
| MUNICIPAL BONDS: 0.0% | | | | |
| | | | Georgia: 0.0% | |
| 306,000 | | | Municipal Electric Authority of Georgia, 6.655%, 04/01/2057 | | | 334,083 | | | | 0.0 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | Total Municipal Bonds | | | | | | | | | |
| | | | (Cost $306,000) | | | 334,083 | | | | 0.0 | | |
| | | | | | | | | | | | | |
| PREFERRED STOCK: 1.1% | | | | |
| | | | Energy: 0.7% | |
| 140,612 (7) | | | El Paso Energy Capital Trust I | | | 6,656,572 | | | | 0.7 | | |
| | | | | | | | | | | | | |
| | | | Financials: 0.4% | |
| 75,900 | | | AMG Capital Trust II | | | 3,867,864 | | | | 0.4 | | |
| | | | | | | | | | | | | |
| | | | Total Preferred Stock | | | | | | | | | |
| | | | (Cost $10,747,296) | | | 10,524,436 | | | | 1.1 | | |
| | | | | | | | | | | | | |
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.1% | | | | |
| | | | Federal National Mortgage Association: 0.1%(8) | |
| 915,000 (8) | | | 6.625%, 11/15/2030 | | | 1,023,223 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Obligations | | | | | | | | | |
| | | | (Cost $980,777) | | | 1,023,223 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| U.S. TREASURY OBLIGATIONS: 9.3% | | | | |
| | | | United States Treasury Bonds: 0.9% | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| U.S. TREASURY OBLIGATIONS: (continued) | | | | |
| | | | United States Treasury Bonds: (continued) | |
| 2,034,900 | | | 4.250%, 02/15/2054 | | $ | 1,938,083 | | | | 0.2 | | |
| 425,000 (4) | | | 4.500%, 02/15/2036 | | | 433,168 | | | | 0.0 | | |
| 6,892,700 (4) | | | 4.625%, 05/15/2044 | | | 6,880,853 | | | | 0.7 | | |
| | | | | | | 9,252,104 | | | | 0.9 | | |
| | | | United States Treasury Notes: 8.4% | |
| 4,048,900 | | | 4.375%, 05/15/2034 | | | 4,050,482 | | | | 0.4 | | |
| 18,839,200 (4) | | | 4.500%, 05/31/2029 | | | 18,970,191 | | | | 1.9 | | |
| 14,053,000 | | | 4.500%, 05/31/2031 | | | 14,283,557 | | | | 1.5 | | |
| 31,371,000 | | | 4.625%, 06/15/2027 | | | 31,462,907 | | | | 3.2 | | |
| 13,849,000 (4) | | | 4.875%, 05/31/2026 | | | 13,878,213 | | | | 1.4 | | |
| | | | | | | 82,645,350 | | | | 8.4 | | |
| | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | | |
| | | | (Cost $91,713,895) | | | 91,897,454 | | | | 9.3 | | |
| | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | | |
| | | | (Cost $853,021,132) | | | 958,432,469 | | | | 96.7 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: 7.2% | | | | |
| | | | U.S. Treasury Obligations: 0.0% | |
| 100,000 (2)(9) | | | United States Treasury Bill, 5.260%, 09/05/2024 (Cost $99,043) | | | 99,046 | | | | 0.0 | | |
| | | | | | | | | | | | | |
| | | | Repurchase Agreements: 3.2% | |
| 5,974,597 (10) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $5,977,273, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $6,094,089, due 10/01/27-01/01/57) | | | 5,974,597 | | | | 0.6 | | |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | |
| | | | Repurchase Agreements (continued) | |
| 4,700,466 (10) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $4,702,564, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $4,794,475, due 08/08/24-04/20/74) | | $ | 4,700,466 | | | | 0.5 | | |
| 2,215,175 (10) | | | Marex Capital Markets Inc., Repurchase Agreement dated 06/28/2024, 5.440%, due 07/01/2024 (Repurchase Amount $2,216,165, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.125%-7.000%, Market Value plus accrued interest $2,259,479, due 01/15/25-11/01/53) | | | 2,215,175 | | | | 0.2 | | |
| 9,870,535 (10) | | | National Bank Financial, Inc., Repurchase Agreement dated 06/28/2024, 5.340%, due 07/01/2024 (Repurchase Amount $9,874,867, collateralized by various U.S. Government Securities, 0.750%-4.375%, Market Value plus accrued interest $10,067,979, due 07/01/24-09/09/49) | | | 9,870,535 | | | | 1.0 | | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | | | | |
| | | | Repurchase Agreements (continued) | |
| 9,000,000 (10) | | | State of Wisconsin Investment Board, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $9,004,032, collateralized by various U.S. Government Securities, 0.125%-3.625%, Market Value plus accrued interest $9,162,448, due 10/15/25-02/15/53) | | $ | 9,000,000 | | | | 0.9 | | |
| | | | Total Repurchase Agreements | | | | | | | | | |
| | | | (Cost $31,760,773) | | | 31,760,773 | | | | 3.2 | | |
| | | | | | | | | | | | | |
| | | | Time Deposits: 1.0% | |
| 1,010,000 (10) | | | BNP Paribas SA, 5.290%, 07/01/2024
(Cost $1,010,000) | | | 1,010,000 | | | | 0.1 | | |
| 1,010,000 (10) | | | Canadian Imperial Bank of Commerce, 5.310%, 07/01/2024
(Cost $1,010,000) | | | 1,010,000 | | | | 0.1 | | |
| 880,000 (10) | | | Credit Agricole Corporate and Investment Bank, 5.300%, 07/01/2024
(Cost $880,000) | | | 880,000 | | | | 0.1 | | |
| 940,000 (10) | | | DZ Bank AG, 5.300%, 07/01/2024
(Cost $940,000) | | | 940,000 | | | | 0.1 | | |
| 980,000 (10) | | | HSBC Bank PLC, 5.380%, 07/01/2024
(Cost $980,000) | | | 980,000 | | | | 0.1 | | |
| 850,000 (10) | | | Landesbank Hessen Thueringen Girozentrale, 5.320%, 07/01/2024
(Cost $850,000) | | | 850,000 | | | | 0.1 | | |
| 970,000 (10) | | | Mizuho Bank Ltd., 5.320%, 07/01/2024
(Cost $970,000) | | | 970,000 | | | | 0.1 | | |
| 1,010,000 (10) | | | Royal Bank of Canada, 5.320%, 07/01/2024
(Cost $1,010,000) | | | 1,010,000 | | | | 0.1 | | |
| 980,000 (10) | | | Skandinaviska Enskilda Banken AB, 5.310%, 07/01/2024
(Cost $980,000) | | | 980,000 | | | | 0.1 | | |
| 910,000 (10) | | | Svenska Handelsbanken AB, 5.310%, 07/01/2024
(Cost $910,000) | | | 910,000 | | | | 0.1 | | |
| | | | Total Time Deposits | | | | | | | | | |
| | | | (Cost $9,540,000) | | | 9,540,000 | | | | 1.0 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| | | | Mutual Funds: 3.0% | |
| 30,185,319 (11) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $30,185,319) | | $ | 30,185,319 | | | | 3.0 | | |
| | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | | |
| | | | (Cost $71,585,135) | | $ | 71,585,138 | | | | 7.2 | | |
| | | | | | | | | | | | | |
| | | | Total Investments in Securities | | | | | | | | | |
| | | | (Cost $924,606,267) | | $ | 1,030,017,607 | | | | 103.9 | | |
| | | | | | | | | | | | | |
| | | | Liabilities in Excess of Other Assets | | | (38,800,277 | ) | | | (3.9) | | |
| | | | Net Assets | | $ | 991,217,330 | | | | 100.0 | | |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Non-income producing security. |
| (2) | Represents a zero coupon bond. Rate shown reflects the effective yield as of June 30, 2024. |
| (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) | Security, or a portion of the security, is on loan. |
| (5) | Variable rate security. Rate shown is the rate in effect as of June 30, 2024. |
| (6) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (7) | Preferred Stock may be called prior to convertible date. |
| (8) | The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. |
As such, the FHFA oversees the continuing affairs of these companies.
| (9) | All or a portion of this security has been pledged as collateral in connection with open futures contracts. Please refer to Note 2 for additional details. |
| (10) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (11) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 44,827,415 | | | $ | — | | | $ | — | | | $ | 44,827,415 | |
| Consumer Discretionary | | | 38,017,375 | | | | — | | | | — | | | | 38,017,375 | |
| Consumer Staples | | | 33,501,684 | | | | — | | | | — | | | | 33,501,684 | |
| Energy | | | 49,920,259 | | | | 6,798,106 | | | | — | | | | 56,718,365 | |
| Financials | | | 139,324,587 | | | | — | | | | — | | | | 139,324,587 | |
| Health Care | | | 73,872,482 | | | | 13,505,154 | | | | — | | | | 87,377,636 | |
| Industrials | | | 91,420,741 | | | | — | | | | — | | | | 91,420,741 | |
| Information Technology | | | 79,750,615 | | | | — | | | | — | | | | 79,750,615 | |
| Materials | | | 20,994,750 | | | | — | | | | — | | | | 20,994,750 | |
| Real Estate | | | 12,797,711 | | | | — | | | | — | | | | 12,797,711 | |
| Utilities | | | 19,118,854 | | | | — | | | | — | | | | 19,118,854 | |
| Total Common Stock | | | 603,546,473 | | | | 20,303,260 | | | | — | | | | 623,849,733 | |
| Convertible Bonds/Notes | | | — | | | | 82,052,251 | | | | — | | | | 82,052,251 | |
| Corporate Bonds/Notes | | | — | | | | 128,543,107 | | | | — | | | | 128,543,107 | |
| Equity-Linked Notes | | | — | | | | — | | | | 20,208,182 | | | | 20,208,182 | |
| Municipal Bonds | | | — | | | | 334,083 | | | | — | | | | 334,083 | |
| Preferred Stock | | | 6,656,572 | | | | 3,867,864 | | | | — | | | | 10,524,436 | |
| U.S. Government Agency Obligations | | | — | | | | 1,023,223 | | | | — | | | | 1,023,223 | |
| U.S. Treasury Obligations | | | — | | | | 91,897,454 | | | | — | | | | 91,897,454 | |
| Short-Term Investments | | | 30,185,319 | | | | 41,399,819 | | | | — | | | | 71,585,138 | |
| Total Investments, at fair value | | $ | 640,388,364 | | | $ | 369,421,061 | | | $ | 20,208,182 | | | $ | 1,030,017,607 | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | | — | | | | 146,910 | | | | — | | | | 146,910 | |
| Total Assets | | $ | 640,388,364 | | | $ | 369,567,971 | | | $ | 20,208,182 | | | $ | 1,030,164,517 | |
| Liabilities Table | | | | | | | | | | | | | | | | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Forward Foreign Currency Contracts | | $ | — | | | $ | (29,194 | ) | | $ | — | | | $ | (29,194 | ) |
| Futures | | | (27,902 | ) | | | — | | | | — | | | | (27,902 | ) |
| Total Liabilities | | $ | (27,902 | ) | | $ | (29,194 | ) | | $ | — | | | $ | (57,096 | ) |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
At June 30, 2024, the following forward foreign currency contracts were outstanding for VY® Invesco Equity and Income Portfolio:
| Currency Purchased | | Currency Sold | | Counterparty | | Settlement Date | | Unrealized
Appreciation
(Depreciation) | |
| USD | | | 7,128,502 | | | EUR | | | 6,582,692 | | | State Street Bank and Trust Co. | | 07/05/24 | | $ | 77,737 | |
| USD | | | 9,364,110 | | | GBP | | | 7,366,407 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 52,098 | |
| CAD | | | 7,840,281 | | | USD | | | 5,727,641 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 3,756 | |
| USD | | | 121,602 | | | EUR | | | 111,609 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 2,057 | |
| USD | | | 507,276 | | | CAD | | | 692,865 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 778 | |
| CAD | | | 269,415 | | | USD | | | 196,183 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 764 | |
| USD | | | 170,854 | | | CAD | | | 233,224 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 363 | |
| USD | | | 97,184 | | | EUR | | | 90,454 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 298 | |
| CAD | | | 113,278 | | | USD | | | 82,594 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 214 | |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Currency Purchased | | Currency Sold | | Counterparty | | Settlement Date | | Unrealized
Appreciation
(Depreciation) | |
| EUR | | | 6,521,169 | | | USD | | | 6,984,824 | | | State Street Bank and Trust Co. | | 07/05/24 | | $ | 44 | |
| EUR | | | 159,024 | | | USD | | | 170,320 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 12 | |
| CAD | | | 214,703 | | | USD | | | 156,948 | | | State Street Bank and Trust Co. | | 07/05/24 | | | 4 | |
| USD | | | 134,877 | | | EUR | | | 125,949 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (28 | ) |
| CAD | | | 301,707 | | | USD | | | 220,657 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (104 | ) |
| USD | | | 90,500 | | | CAD | | | 123,993 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (141 | ) |
| CAD | | | 166,167 | | | USD | | | 121,694 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (223 | ) |
| EUR | | | 109,420 | | | USD | | | 117,515 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (315 | ) |
| USD | | | 84,621 | | | CAD | | | 116,339 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (425 | ) |
| EUR | | | 121,091 | | | USD | | | 131,000 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (1,298 | ) |
| GBP | | | 321,457 | | | USD | | | 410,907 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (4,547 | ) |
| USD | | | 5,648,918 | | | CAD | | | 7,739,131 | | | State Street Bank and Trust Co. | | 07/05/24 | | | (8,536 | ) |
| GBP | | | 531,614 | | | USD | | | 672,268 | | | State Street Bank and Trust Co. | | 08/06/24 | | | (99 | ) |
| USD | | | 6,995,421 | | | EUR | | | 6,521,169 | | | State Street Bank and Trust Co. | | 08/06/24 | | | (405 | ) |
| USD | | | 5,731,715 | | | CAD | | | 7,840,281 | | | State Street Bank and Trust Co. | | 08/06/24 | | | (4,046 | ) |
| GBP | | | 7,044,950 | | | USD | | | 8,914,679 | | | The Bank of New York Mellon | | 07/05/24 | | | (9,027 | ) |
| USD | | | 8,916,370 | | | GBP | | | 7,044,949 | | | The Bank of New York Mellon | | 08/06/24 | | | 8,785 | |
| | | | | | | | | | | | | | | | | $ | 117,716 | |
At June 30, 2024, the following futures contracts were outstanding for VY® Invesco Equity and Income Portfolio:
| Description | | Number
of Contracts | | | Expiration
Date | | Notional
Amount | | | Unrealized
Depreciation | |
| Short Contracts: | | | | | | | | | | | | | |
| U.S. Treasury Ultra 10-Year Note | | (27) | | | 09/19/24 | | $ | (3,065,344 | ) | | $ | (27,902 | ) |
| | | | | | | | $ | (3,065,344 | ) | | $ | (27,902 | ) |
| Currency Abbreviations: | Currency Abbreviations: |
| | |
| CAD — Canadian Dollar | EUR — EU Euro |
| | GBP — British Pound |
| | USD — United States Dollar |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of June 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | | Location on Statement
of Assets and Liabilities | | Fair Value |
| Asset Derivatives | | | | | |
| Foreign exchange contracts | | Unrealized appreciation on forward foreign currency contracts | | $ | 146,910 |
| Total Asset Derivatives | | | | $ | 146,910 |
| | | | | | |
| Liability Derivatives | | | | | |
| Foreign exchange contracts | | Unrealized depreciation on forward foreign currency contracts | | $ | 29,194 |
| Interest rate contracts | | Variation margin payable on futures contracts* | | | 27,902 |
| Total Liability Derivatives | | | | $ | 57,096 |
| * | The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day’s unsettled variation margin is reported in receivables or payables on futures contracts and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss). |
The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts | | Futures | | Total |
| Foreign exchange contracts | | $ | 211,139 | | | $ | — | | | $ | 211,139 | |
| Interest rate contracts | | | — | | | | 31,921 | | | | 31,921 | |
| Total | | $ | 211,139 | | | $ | 31,921 | | | $ | 243,060 | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | | Forward
foreign
currency
contracts | | Futures | | Total |
| Foreign exchange contracts | | $ | 275,979 | | | $ | — | | | $ | 275,979 | |
| Interest rate contracts | | | — | | | | 112,573 | | | | 112,573 | |
| Total | | $ | 275,979 | | | $ | 112,573 | | | $ | 388,552 | |
The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2024:
| | | State Street
Bank and
Trust Co. | | | The Bank
of New York
Mellon | | | Total | |
| Assets: | | | | | | | | | |
| Forward foreign currency contracts | | $ | 138,125 | | | $ | 8,785 | | | $ | 146,910 | |
| Total Assets | | $ | 138,125 | | | $ | 8,785 | | | $ | 146,910 | |
| Liabilities: | | | | | | | | | | | | |
| Forward foreign currency contracts | | $ | 20,167 | | | $ | 9,027 | | | $ | 29,194 | |
| Total Liabilities | | $ | 20,167 | | | $ | 9,027 | | | $ | 29,194 | |
| Net OTC derivative instruments by counterparty, at fair value | | $ | 117,958 | | | $ | (242 | ) | | $ | 117,716 | |
| Total collateral pledged by the Portfolio/(Received from counterparty) | | $ | — | | | $ | — | | | $ | – | |
| Net Exposure(1) | | $ | 117,958 | | | $ | (242 | ) | | $ | 117,716 | |
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities during the period ended June 30, 2024:
| | | Equity-Linked
Notes* |
| Beginning balance at December 31, 2023 | | $ | 18,949,634 | |
| Purchases | | | — | |
| Sales | | | — | |
| Accrued discounts/(premiums) | | | (14,129 | ) |
| Total realized gain (loss) | | | — | |
| Net change in unrealized appreciation (depreciation)** | | | 1,272,677 | |
| Transfers into Level 3 | | | — | |
| Transfers out of Level 3 | | | — | |
| Ending balance at June 30, 2024 | | $ | 20,208,182 | |
| Net change in unrealized appreciation (depreciation) on Level 3 securities still held as of June 30, 2024** | | $ | 1,272,677 | |
| * | Securities categorized as Level 3 were fair valued based on a single quotation obtained from a broker. The Portfolio does not have access to the unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation. |
| ** | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on Level 3 securities still held at June 30, 2024 may be due to securities no longer held or categorized as Level 3 at period end. |
See Accompanying Notes to Financial Statements
| VY® Invesco | PORTFOLIO OF INVESTMENTS |
| Equity and Income Portfolio | as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $927,369,167. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 146,646,722 | |
| Gross Unrealized Depreciation | | | (43,777,909 | ) |
| Net Unrealized Appreciation | | $ | 102,868,813 | |
See Accompanying Notes to Financial Statements
VY® JPMorgan Mid Cap Value Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net Assets | |
| COMMON STOCK: 98.5% | | |
| | | | Communication Services: 1.7% | |
| 50,027 (1) | | | IAC, Inc. | | $ | 2,343,765 | | | | 0.8 | | |
| 16,417 (1) | | | Take-Two Interactive Software, Inc. | | | 2,552,679 | | | | 0.9 | | |
| | | | | | | 4,896,444 | | | | 1.7 | | |
| | | | Consumer Discretionary: 9.3% | |
| 1,071 (1) | | | AutoZone, Inc. | | | 3,174,551 | | | | 1.1 | | |
| 50,917 | | | Bath & Body Works, Inc. | | | 1,988,309 | | | | 0.7 | | |
| 29,813 | | | Best Buy Co., Inc. | | | 2,512,938 | | | | 0.9 | | |
| 35,257 (2) | | | Carter’s, Inc. | | | 2,184,876 | | | | 0.7 | | |
| 14,929 | | | Darden Restaurants, Inc. | | | 2,259,056 | | | | 0.8 | | |
| 22,206 (1) | | | Expedia Group, Inc. | | | 2,797,734 | | | | 1.0 | | |
| 16,936 | | | Genuine Parts Co. | | | 2,342,588 | | | | 0.8 | | |
| 67,361 | | | LKQ Corp. | | | 2,801,544 | | | | 1.0 | | |
| 22,831 (1) | | | Mohawk Industries, Inc. | | | 2,593,373 | | | | 0.9 | | |
| 13,280 | | | Ralph Lauren Corp. | | | 2,324,797 | | | | 0.8 | | |
| 42,050 | | | Tapestry, Inc. | | | 1,799,319 | | | | 0.6 | | |
| | | | | | | 26,779,085 | | | | 9.3 | | |
| | | | Consumer Staples: 5.2% | |
| 8,631 | | | Constellation Brands, Inc. - Class A | | | 2,220,584 | | | | 0.8 | | |
| 38,713 | | | Energizer Holdings, Inc. | | | 1,143,582 | | | | 0.4 | | |
| 7,677 | | | Hershey Co. | | | 1,411,263 | | | | 0.5 | | |
| 72,782 | | | Keurig Dr Pepper, Inc. | | | 2,430,919 | | | | 0.8 | | |
| 45,178 | | | Kroger Co. | | | 2,255,738 | | | | 0.8 | | |
| 21,428 (1) | | | Post Holdings, Inc. | | | 2,231,940 | | | | 0.8 | | |
| 62,374 (1) | | | US Foods Holding Corp. | | | 3,304,574 | | | | 1.1 | | |
| | | | | | 14,998,600 | | | | 5.2 | | |
| | | | Energy: 4.4% | |
| 98,649 | | | Coterra Energy, Inc. | | | 2,630,969 | | | | 0.9 | | |
| 23,255 | | | Diamondback Energy, Inc. | | | 4,655,418 | | | | 1.7 | | |
| 122,248 | | | Williams Cos., Inc. | | | 5,195,540 | | | | 1.8 | | |
| | | | | | | 12,481,927 | | | | 4.4 | | |
| | | | Financials: 22.2% | |
| 14,819 | | | Ameriprise Financial, Inc. | | | 6,330,529 | | | | 2.2 | | |
| 47,819 (1) | | | Arch Capital Group Ltd. | | | 4,824,459 | | | | 1.7 | | |
| 66,775 | | | Blue Owl Capital, Inc. | | | 1,185,256 | | | | 0.4 | | |
| 19,660 | | | Discover Financial Services | | | 2,571,725 | | | | 0.9 | | |
| 41,895 | | | Fidelity National Information Services, Inc. | | | 3,157,207 | | | | 1.1 | | |
| 105,121 | | | Fifth Third Bancorp | | | 3,835,865 | | | | 1.4 | | |
| 2,285 | | | First Citizens BancShares, Inc. - Class A | | | 3,847,049 | | | | 1.4 | | |
| 32,358 | | | Hartford Financial Services Group, Inc. | | | 3,253,274 | | | | 1.1 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | |
| | | | Financials: (continued) | |
| 302,021 | | | Huntington Bancshares, Inc. | | $ | 3,980,637 | | | | 1.4 | | |
| 70,095 | | | Loews Corp. | | | 5,238,900 | | | | 1.8 | | |
| 31,013 | | | M&T Bank Corp. | | | 4,694,128 | | | | 1.6 | | |
| 145,862 | | | MGIC Investment Corp. | | | 3,143,326 | | | | 1.1 | | |
| 25,338 | | | Northern Trust Corp. | | | 2,127,885 | | | | 0.8 | | |
| 37,338 | | | Raymond James Financial, Inc. | | | 4,615,350 | | | | 1.6 | | |
| 205,454 | | | Regions Financial Corp. | | | 4,117,298 | | | | 1.4 | | |
| 51,366 | | | State Street Corp. | | | 3,801,084 | | | | 1.3 | | |
| 36,909 | | | W.R. Berkley Corp. | | | 2,900,309 | | | | 1.0 | | |
| | | | | | | 63,624,281 | | | | 22.2 | | |
| | | | Health Care: 7.6% | |
| 22,073 | | | AmerisourceBergen Corp. | | | 4,973,047 | | | | 1.7 | | |
| 36,953 (1) | | | Globus Medical, Inc. - Class A | | | 2,530,911 | | | | 0.9 | | |
| 50,931 (1) | | | Henry Schein, Inc. | | | 3,264,677 | | | | 1.1 | | |
| 18,982 (1) | | | Jazz Pharmaceuticals PLC | | | 2,025,949 | | | | 0.7 | | |
| 12,564 (1) | | | Labcorp Holdings, Inc. | | | 2,556,899 | | | | 0.9 | | |
| 15,810 | | | Quest Diagnostics, Inc. | | | 2,164,073 | | | | 0.8 | | |
| 8,603 | | | Universal Health Services, Inc. - Class B | | | 1,590,953 | | | | 0.6 | | |
| 23,539 | | | Zimmer Biomet Holdings, Inc. | | | 2,554,688 | | | | 0.9 | | |
| | | | | | | 21,661,197 | | | | 7.6 | | |
| | | | Industrials: 15.6% | |
| 14,306 | | | Acuity Brands, Inc. | | | 3,454,041 | | | | 1.2 | | |
| 25,777 | | | AMETEK, Inc. | | | 4,297,284 | | | | 1.5 | | |
| 9,802 | | | Carlisle Cos., Inc. | | | 3,971,868 | | | | 1.4 | | |
| 21,388 | | | Dover Corp. | | | 3,859,465 | | | | 1.3 | | |
| 48,169 | | | Fortune Brands Innovations, Inc. | | | 3,128,095 | | | | 1.1 | | |
| 11,548 | | | Hubbell, Inc. | | | 4,220,563 | | | | 1.5 | | |
| 7,043 | | | IDEX Corp. | | | 1,417,052 | | | | 0.5 | | |
| 36,128 | | | ITT, Inc. | | | 4,667,015 | | | | 1.6 | | |
| 18,734 | | | Lincoln Electric Holdings, Inc. | | | 3,533,982 | | | | 1.2 | | |
| 23,714 (1) | | | Middleby Corp. | | | 2,907,573 | | | | 1.0 | | |
| 16,422 | | | Snap-on, Inc. | | | 4,292,546 | | | | 1.5 | | |
| 31,113 | | | Timken Co. | | | 2,493,085 | | | | 0.9 | | |
| 31,945 (2) | | | UL Solutions, Inc. - Class A | | | 1,347,759 | | | | 0.5 | | |
| 13,206 | | | Veralto Corp. | | | 1,260,777 | | | | 0.4 | | |
| | | | | | | 44,851,105 | | | | 15.6 | | |
| | | | Information Technology: 8.9% | |
| 36,162 | | | Amphenol Corp. - Class A | | | 2,436,234 | | | | 0.8 | | |
| 8,384 | | | CDW Corp. | | | 1,876,675 | | | | 0.7 | | |
| 62,386 (1) | | | Flex Ltd. | | | 1,839,763 | | | | 0.6 | | |
| 27,109 (1) | | | GoDaddy, Inc. - Class A | | | 3,787,398 | | | | 1.3 | | |
| 6,053 | | | Jabil, Inc. | | | 658,506 | | | | 0.2 | | |
See Accompanying Notes to Financial Statements
VY® JPMorgan Mid Cap Value Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | |
| | | | Information Technology: (continued) | |
| 36,271 | | | Microchip Technology, Inc. | | $ | 3,318,797 | | | | 1.2 | | |
| 5,586 | | | Motorola Solutions, Inc. | | | 2,156,475 | | | | 0.7 | | |
| 14,982 (1) | | | ON Semiconductor Corp. | | | 1,027,016 | | | | 0.4 | | |
| 14,042 | | | TD SYNNEX Corp. | | | 1,620,447 | | | | 0.6 | | |
| 10,085 (1) | | | Teledyne Technologies, Inc. | | | 3,912,778 | | | | 1.4 | | |
| 9,163 (1) | | | Zebra Technologies Corp. - Class A | | | 2,830,726 | | | | 1.0 | | |
| | | | | | | 25,464,815 | | | | 8.9 | | |
| | | | Materials: 7.2% | |
| 34,604 | | | Ball Corp. | | | 2,076,932 | | | | 0.7 | | |
| 7,725 | | | Celanese Corp. | | | 1,042,025 | | | | 0.4 | | |
| 25,038 | | | Freeport-McMoRan, Inc. | | | 1,216,847 | | | | 0.4 | | |
| 54,200 | | | Graphic Packaging Holding Co. | | | 1,420,582 | | | | 0.5 | | |
| 17,079 | | | International Paper Co. | | | 736,959 | | | | 0.2 | | |
| 6,801 | | | Martin Marietta Materials, Inc. | | | 3,684,782 | | | | 1.3 | | |
| 21,850 | | | Packaging Corp. of America | | | 3,988,936 | | | | 1.4 | | |
| 33,778 | | | RPM International, Inc. | | | 3,637,215 | | | | 1.3 | | |
| 66,271 | | | Silgan Holdings, Inc. | | | 2,805,251 | | | | 1.0 | | |
| | | | | | | 20,609,529 | | | | 7.2 | | |
| | | | Real Estate: 8.7% | |
| 69,797 | | | American Homes 4 Rent - Class A | | | 2,593,656 | | | | 0.9 | | |
| 14,215 | | | AvalonBay Communities, Inc. | | | 2,940,941 | | | | 1.0 | | |
| 22,949 (1) | | | CBRE Group, Inc. - Class A | | | 2,044,985 | | | | 0.7 | | |
| 5,744 | | | Essex Property Trust, Inc. | | | 1,563,517 | | | | 0.6 | | |
| 8,773 | | | Federal Realty Investment Trust | | | 885,810 | | | | 0.3 | | |
| 66,199 | | | Host Hotels & Resorts, Inc. | | | 1,190,258 | | | | 0.4 | | |
| 79,136 | | | Kimco Realty Corp. | | | 1,539,987 | | | | 0.5 | | |
| 13,997 | | | Mid-America Apartment Communities, Inc. | | | 1,996,112 | | | | 0.7 | | |
| 60,595 | | | Rayonier, Inc. | | | 1,762,709 | | | | 0.6 | | |
| 49,733 | | | Regency Centers Corp. | | | 3,093,393 | | | | 1.1 | | |
| 32,695 | | | Rexford Industrial Realty, Inc. | | | 1,457,870 | | | | 0.5 | | |
| 26,094 | | | Ventas, Inc. | | | 1,337,578 | | | | 0.5 | | |
| 89,097 | | | Weyerhaeuser Co. | | | 2,529,464 | | | | 0.9 | | |
| | | | | | | 24,936,280 | | | | 8.7 | | |
| | | | Utilities: 7.7% | |
| 65,027 | | | CMS Energy Corp. | | | 3,871,057 | | | | 1.4 | | |
| 25,817 | | | Edison International | | | 1,853,919 | | | | 0.7 | | |
| 36,931 | | | National Fuel Gas Co. | | | 2,001,291 | | | | 0.7 | | |
| 70,508 | | | NiSource, Inc. | | | 2,031,335 | | | | 0.7 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | |
| | | | Utilities: (continued) | |
| 236,338 | | | PG&E Corp. | | $ | 4,126,462 | | | | 1.4 | | |
| 19,978 | | | Public Service Enterprise Group, Inc. | | | 1,472,379 | | | | 0.5 | | |
| 48,876 | | | WEC Energy Group, Inc. | | | 3,834,811 | | | | 1.3 | | |
| 55,545 | | | Xcel Energy, Inc. | | | 2,966,658 | | | | 1.0 | | |
| | | | | | | 22,157,912 | | | | 7.7 | | |
| | | | Total Common Stock
(Cost $205,193,397) | | | 282,461,175 | | | | 98.5 | | |
| | | | | | | | | | | | | |
Principal
Amount† | | | | | | Value | | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: 1.6% | |
| | | | Repurchase Agreements: 0.3% | |
| 902,430 (3) | | | National Bank Financial, Inc., Repurchase Agreement dated 06/28/2024, 5.340%, due 07/01/2024 (Repurchase Amount $902,826, collateralized by various U.S. Government Securities, 0.750%-4.375%, Market Value plus accrued interest $920,482, due 07/01/24-09/09/49) | | | 902,430 | | | | 0.3 | | |
| | | | Total Repurchase Agreements
(Cost $902,430) | | | 902,430 | | | | 0.3 | | |
| | | | | | | | | | | | | |
| Shares | | | | | | Value | | | | Percentage
of Net
Assets | |
| | | | Mutual Funds: 1.3% | |
| 3,603,746 (4) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210%
(Cost $3,603,746) | | $ | 3,603,746 | | | | 1.3 | | |
| | | | Total Short-Term Investments
(Cost $4,506,176) | | | 4,506,176 | | | | 1.6 | | |
| | | | Total Investments in Securities
(Cost $209,699,573) | | $ | 286,967,351 | | | | 100.1 | | |
| | | | Liabilities in Excess of Other Assets | | | (426,030) | | | | (0.1) | | |
| | | | Net Assets | | $ | 286,541,321 | | | | 100.0 | | |
See Accompanying Notes to Financial Statements
VY® JPMorgan Mid Cap Value Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Non-income producing security. |
| (2) | Security, or a portion of the security, is on loan. |
| (3) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (4) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
VY® JPMorgan Mid Cap Value Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices | | | | | | | | | | |
| | | in Active Markets | | | Significant Other | | | Significant | | | | |
| | | for Identical | | | Observable | | | Unobservable | | | Fair Value | |
| | | Investments | | | Inputs | | | Inputs | | | at | |
| | | (Level 1) | | | (Level 2) | | | (Level 3) | | | June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock* | | $ | 282,461,175 | | | $ | — | | | $ | — | | | $ | 282,461,175 | |
| Short-Term Investments | | | 3,603,746 | | | | 902,430 | | | | — | | | | 4,506,176 | |
| Total Investments, at fair value | | $ | 286,064,921 | | | $ | 902,430 | | | $ | — | | | $ | 286,967,351 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| * | For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments. |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $210,940,527. |
| Net unrealized appreciation consisted of: |
| Gross Unrealized Appreciation | | $ | 85,274,650 | |
| Gross Unrealized Depreciation | | | (9,247,826 | ) |
| Net Unrealized Appreciation | | $ | 76,026,824 | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: 99.0% | | |
| | | | Communication Services: 4.9% | |
| 37,600 | | | Omnicom Group, Inc. | | $ | 3,372,720 | | | | 0.3 | | |
| 206,000 (1) | | | Pinterest, Inc. - Class A | | | 9,078,420 | | | | 0.8 | | |
| 25,847 (1)(2) | | | Reddit, Inc. - Class A | | | 1,651,365 | | | | 0.2 | | |
| 132,500 (1) | | | ROBLOX Corp. - Class A | | | 4,930,325 | | | | 0.5 | | |
| 47,500 (1) | | | Spotify Technology SA | | | 14,905,025 | | | | 1.4 | | |
| 8,000 (1) | | | Take-Two Interactive Software, Inc. | | | 1,243,920 | | | | 0.1 | | |
| 178,073 (1) | | | Trade Desk, Inc. - Class A | | | 17,392,390 | | | | 1.6 | | |
| | | | | | | 52,574,165 | | | | 4.9 | | |
| | | | Consumer Discretionary: 14.2% | |
| 550 (1) | | | AutoZone, Inc. | | | 1,630,255 | | | | 0.2 | | |
| 13,200 (1) | | | Bright Horizons Family Solutions, Inc. | | | 1,453,056 | | | | 0.1 | | |
| 19,400 (1) | | | Burlington Stores, Inc. | | | 4,656,000 | | | | 0.4 | | |
| 21,800 (1)(2) | | | Carvana Co. | | | 2,806,096 | | | | 0.3 | | |
| 23,400 (1) | | | Cava Group, Inc. | | | 2,170,350 | | | | 0.2 | | |
| 23,800 | | | Churchill Downs, Inc. | | | 3,322,480 | | | | 0.3 | | |
| 398,400 (1) | | | Coupang, Inc. | | | 8,346,480 | | | | 0.8 | | |
| 22,100 | | | Darden Restaurants, Inc. | | | 3,344,172 | | | | 0.3 | | |
| 5,300 | | | Dick’s Sporting Goods, Inc. | | | 1,138,705 | | | | 0.1 | | |
| 13,200 | | | Domino’s Pizza, Inc. | | | 6,815,556 | | | | 0.6 | | |
| 85,000 (1) | | | DoorDash, Inc. - Class A | | | 9,246,300 | | | | 0.9 | | |
| 177,600 (1) | | | DraftKings, Inc. - Class A | | | 6,778,992 | | | | 0.6 | | |
| 6,500 (1) | | | Duolingo, Inc. | | | 1,356,355 | | | | 0.1 | | |
| 19,000 (1) | | | Expedia Group, Inc. | | | 2,393,810 | | | | 0.2 | | |
| 18,569 (1) | | | Five Below, Inc. | | | 2,023,464 | | | | 0.2 | | |
| 13,600 (1) | | | Floor & Decor Holdings, Inc. - Class A | | | 1,351,976 | | | | 0.1 | | |
| 53,100 | | | Hilton Worldwide Holdings, Inc. | | | 11,586,420 | | | | 1.1 | | |
| 8,700 | | | Hyatt Hotels Corp. - Class A | | | 1,321,704 | | | | 0.1 | | |
| 25,900 (1) | | | MGM Resorts International | | | 1,150,996 | | | | 0.1 | | |
| 704 (1) | | | NVR, Inc. | | | 5,342,346 | | | | 0.5 | | |
| 24,100 (1) | | | Ollie’s Bargain Outlet Holdings, Inc. | | | 2,365,897 | | | | 0.2 | | |
| 55,700 (1) | | | On Holding AG - Class A | | | 2,161,160 | | | | 0.2 | | |
| 11,800 | | | Pool Corp. | | | 3,626,494 | | | | 0.4 | | |
| 19,381 | | | Restaurant Brands International, Inc. | | | 1,363,841 | | | | 0.1 | | |
| 3,800 (1) | | | RH | | | 928,872 | | | | 0.1 | | |
| 103,300 | | | Ross Stores, Inc. | | | 15,011,556 | | | | 1.4 | | |
| 46,000 (1) | | | Royal Caribbean Cruises Ltd. | | | 7,333,780 | | | | 0.7 | | |
| 24,200 | | | Service Corp. International | | | 1,721,346 | | | | 0.2 | | |
| 20,700 (1) | | | Skechers USA, Inc. - Class A | | | 1,430,784 | | | | 0.1 | | |
| 2,600 (1) | | | TopBuild Corp. | | | 1,001,702 | | | | 0.1 | | |
| 40,900 | | | Tractor Supply Co. | | | 11,043,000 | | | | 1.0 | | |
| 17,821 (1) | | | Ulta Beauty, Inc. | | | 6,876,589 | | | | 0.7 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | |
| | | | Consumer Discretionary: (continued) | |
| 66,897 (1)(2) | | | Viking Holdings Ltd. | | $ | 2,270,484 | | | | 0.2 | | |
| 4,200 | | | Williams-Sonoma, Inc. | | | 1,185,954 | | | | 0.1 | | |
| 14,550 | | | Wingstop, Inc. | | | 6,149,703 | | | | 0.6 | | |
| 14,300 | | | Wynn Resorts Ltd. | | | 1,279,850 | | | | 0.1 | | |
| 61,700 | | | Yum! Brands, Inc. | | | 8,172,782 | | | | 0.8 | | |
| | | | | | | 152,159,307 | | | | 14.2 | | |
| | | | Consumer Staples: 2.3% | |
| 23,500 (1) | | | BJ’s Wholesale Club Holdings, Inc. | | | 2,064,240 | | | | 0.2 | | |
| 68,175 | | | Brown-Forman Corp. - Class B | | | 2,944,478 | | | | 0.3 | | |
| 5,800 | | | Casey’s General Stores, Inc. | | | 2,213,048 | | | | 0.2 | | |
| 75,500 (1) | | | Celsius Holdings, Inc. | | | 4,310,295 | | | | 0.4 | | |
| 11,400 | | | Church & Dwight Co., Inc. | | | 1,181,952 | | | | 0.1 | | |
| 8,100 | | | Constellation Brands, Inc. - Class A | | | 2,083,968 | | | | 0.2 | | |
| 8,864 (1) | | | e.l.f. Beauty, Inc. | | | 1,867,822 | | | | 0.2 | | |
| 8,600 | | | Estee Lauder Cos., Inc. - Class A | | | 915,040 | | | | 0.1 | | |
| 15,900 (1) | | | Freshpet, Inc. | | | 2,057,301 | | | | 0.2 | | |
| 7,500 | | | Hershey Co. | | | 1,378,725 | | | | 0.1 | | |
| 36,400 (1) | | | Performance Food Group Co. | | | 2,406,404 | | | | 0.2 | | |
| 24,200 (1) | | | US Foods Holding Corp. | | | 1,282,116 | | | | 0.1 | | |
| | | | | | | 24,705,389 | | | | 2.3 | | |
| | | | Energy: 3.7% | |
| 64,200 | | | Cheniere Energy, Inc. | | | 11,224,086 | | | | 1.1 | | |
| 18,900 (2) | | | Chesapeake Energy Corp. | | | 1,553,391 | | | | 0.1 | | |
| 45,400 | | | Coterra Energy, Inc. | | | 1,210,818 | | | | 0.1 | | |
| 14,900 | | | Diamondback Energy, Inc. | | | 2,982,831 | | | | 0.3 | | |
| 136,200 | | | Halliburton Co. | | | 4,600,836 | | | | 0.4 | | |
| 75,400 | | | Magnolia Oil & Gas Corp. - Class A | | | 1,910,636 | | | | 0.2 | | |
| 28,000 | | | Matador Resources Co. | | | 1,668,800 | | | | 0.2 | | |
| 25,600 | | | Noble Corp. PLC | | | 1,143,040 | | | | 0.1 | | |
| 219,200 | | | Permian Resources Corp. | | | 3,540,080 | | | | 0.3 | | |
| 73,000 | | | Targa Resources Corp. | | | 9,400,940 | | | | 0.9 | | |
| | | | | | | 39,235,458 | | | | 3.7 | | |
| | | | Financials: 11.0% | |
| 23,100 | | | Ameriprise Financial, Inc. | | | 9,868,089 | | | | 0.9 | | |
| 172,900 | | | Apollo Global Management, Inc. | | | 20,414,303 | | | | 1.9 | | |
| 65,500 (1) | | | Arch Capital Group Ltd. | | | 6,608,295 | | | | 0.6 | | |
| 67,400 | | | Ares Management Corp. - Class A | | | 8,983,072 | | | | 0.9 | | |
| 17,700 | | | Arthur J Gallagher & Co. | | | 4,589,787 | | | | 0.4 | | |
| 74,100 (1) | | | Block, Inc. | | | 4,778,709 | | | | 0.5 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | |
| | | | Financials: (continued) | |
| 117,600 | | | Blue Owl Capital, Inc. | | $ | 2,087,400 | | | | 0.2 | | |
| 46,200 | | | Brown & Brown, Inc. | | | 4,130,742 | | | | 0.4 | | |
| 8,533 | | | Cboe Global Markets, Inc. | | | 1,451,122 | | | | 0.2 | | |
| 11,250 (1) | | | Coinbase Global, Inc. - Class A | | | 2,500,088 | | | | 0.2 | | |
| 21,500 (1) | | | Corpay, Inc. | | | 5,727,815 | | | | 0.6 | | |
| 8,600 | | | FactSet Research Systems, Inc. | | | 3,511,122 | | | | 0.3 | | |
| 23,300 | | | Hartford Financial Services Group, Inc. | | | 2,342,582 | | | | 0.2 | | |
| 8,900 | | | Kinsale Capital Group, Inc. | | | 3,428,992 | | | | 0.3 | | |
| 27,800 | | | LPL Financial Holdings, Inc. | | | 7,764,540 | | | | 0.7 | | |
| 7,000 | | | MarketAxess Holdings, Inc. | | | 1,403,710 | | | | 0.1 | | |
| 6,700 | | | Morningstar, Inc. | | | 1,982,195 | | | | 0.2 | | |
| 14,300 (1) | | | Mr Cooper Group, Inc. | | | 1,161,589 | | | | 0.1 | | |
| 13,750 | | | MSCI, Inc. | | | 6,624,062 | | | | 0.6 | | |
| 520,900 (1) | | | NU Holdings Ltd./ Cayman Islands - Class A | | | 6,714,401 | | | | 0.6 | | |
| 42,800 | | | Ryan Specialty Holdings, Inc. | | | 2,478,548 | | | | 0.2 | | |
| 28,200 | | | StepStone Group, Inc. - Class A | | | 1,294,098 | | | | 0.1 | | |
| 80,900 (1) | | | Toast, Inc. - Class A | | | 2,084,793 | | | | 0.2 | | |
| 25,100 | | | TPG, Inc. | | | 1,040,395 | | | | 0.1 | | |
| 34,719 | | | Tradeweb Markets, Inc. - Class A | | | 3,680,214 | | | | 0.4 | | |
| 7,999 (1) | | | WEX, Inc. | | | 1,416,943 | | | | 0.1 | | |
| | | | | | | 118,067,606 | | | | 11.0 | | |
| | | | Health Care: 16.9% | |
| 26,900 | | | Agilent Technologies, Inc. | | | 3,487,047 | | | | 0.3 | | |
| 11,900 | | | Alcon, Inc. | | | 1,060,052 | | | | 0.1 | | |
| 24,600 (1) | | | Align Technology, Inc. | | | 5,939,178 | | | | 0.6 | | |
| 35,500 (1) | | | Alkermes PLC | | | 855,550 | | | | 0.1 | | |
| 27,100 (1) | | | Alnylam Pharmaceuticals, Inc. | | | 6,585,300 | | | | 0.6 | | |
| 72,800 | | | AmerisourceBergen Corp. | | | 16,401,840 | | | | 1.5 | | |
| 51,600 (1) | | | Apellis Pharmaceuticals, Inc. | | | 1,979,376 | | | | 0.2 | | |
| 7,185 (1) | | | Argenx SE, ADR | | | 3,089,837 | | | | 0.3 | | |
| 10,000 (1) | | | Ascendis Pharma A/S, ADR | | | 1,363,800 | | | | 0.1 | | |
| 5,900 (1) | | | BeiGene Ltd., ADR | | | 841,753 | | | | 0.1 | | |
| 9,800 (1) | | | BioNTech SE, ADR | | | 787,528 | | | | 0.1 | | |
| 3,500 (1) | | | Bio-Rad Laboratories, Inc. - Class A | | | 955,885 | | | | 0.1 | | |
| 46,574 | | | Bio-Techne Corp. | | | 3,337,027 | | | | 0.3 | | |
| 9,800 (1) | | | Blueprint Medicines Corp. | | | 1,056,244 | | | | 0.1 | | |
| 24,300 | | | Bruker Corp. | | | 1,550,583 | | | | 0.1 | | |
| 55,600 | | | Cardinal Health, Inc. | | | 5,466,592 | | | | 0.5 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | |
| | | | Health Care: (continued) | |
| 4,900 (1) | | | Charles River Laboratories International, Inc. | | $ | 1,012,242 | | | | 0.1 | | |
| 6,100 | | | Chemed Corp. | | | 3,309,738 | | | | 0.3 | | |
| 122,700 (1) | | | Dexcom, Inc. | | | 13,911,726 | | | | 1.3 | | |
| 67,800 (1) | | | Elanco Animal Health, Inc. | | | 978,354 | | | | 0.1 | | |
| 19,900 | | | Encompass Health Corp. | | | 1,707,221 | | | | 0.2 | | |
| 30,400 (1) | | | Exact Sciences Corp. | | | 1,284,400 | | | | 0.1 | | |
| 39,500 (1) | | | Globus Medical, Inc. - Class A | | | 2,705,355 | | | | 0.3 | | |
| 9,500 (1) | | | ICON PLC | | | 2,977,965 | | | | 0.3 | | |
| 26,500 (1) | | | IDEXX Laboratories, Inc. | | | 12,910,800 | | | | 1.2 | | |
| 18,500 (1) | | | Insmed, Inc. | | | 1,239,500 | | | | 0.1 | | |
| 9,300 (1) | | | Inspire Medical Systems, Inc. | | | 1,244,619 | | | | 0.1 | | |
| 23,100 (1) | | | Insulet Corp. | | | 4,661,580 | | | | 0.4 | | |
| 51,700 (1) | | | IQVIA Holdings, Inc. | | | 10,931,448 | | | | 1.0 | | |
| 20,300 (1) | | | Lantheus Holdings, Inc. | | | 1,629,887 | | | | 0.2 | | |
| 40,900 (1) | | | Legend Biotech Corp., ADR | | | 1,811,461 | | | | 0.2 | | |
| 8,800 (1) | | | Masimo Corp. | | | 1,108,272 | | | | 0.1 | | |
| 9,000 (1) | | | Medpace Holdings, Inc. | | | 3,706,650 | | | | 0.3 | | |
| 3,725 (1) | | | Mettler-Toledo International, Inc. | | | 5,206,023 | | | | 0.5 | | |
| 13,600 (1) | | | Molina Healthcare, Inc. | | | 4,043,280 | | | | 0.4 | | |
| 31,500 (1) | | | Natera, Inc. | | | 3,411,135 | | | | 0.3 | | |
| 37,879 (1) | | | Neurocrine Biosciences, Inc. | | | 5,214,802 | | | | 0.5 | | |
| 14,400 (1) | | | Penumbra, Inc. | | | 2,591,568 | | | | 0.2 | | |
| 12,386 (1) | | | Repligen Corp. | | | 1,561,379 | | | | 0.2 | | |
| 42,400 | | | ResMed, Inc. | | | 8,116,208 | | | | 0.8 | | |
| 29,600 (1) | | | Sarepta Therapeutics, Inc. | | | 4,676,800 | | | | 0.4 | | |
| 11,100 | | | STERIS PLC | | | 2,436,894 | | | | 0.2 | | |
| 35,200 (1) | | | Tenet Healthcare Corp. | | | 4,682,656 | | | | 0.4 | | |
| 3,300 (1) | | | United Therapeutics Corp. | | | 1,051,215 | | | | 0.1 | | |
| 16,000 (1) | | | Vaxcyte, Inc. | | | 1,208,160 | | | | 0.1 | | |
| 42,000 (1) | | | Veeva Systems, Inc. - Class A | | | 7,686,420 | | | | 0.7 | | |
| 24,300 | | | West Pharmaceutical Services, Inc. | | | 8,004,177 | | | | 0.7 | | |
| | | | | | | 181,779,527 | | | | 16.9 | | |
| | | | Industrials: 17.0% | |
| 21,400 | | | Advanced Drainage Systems, Inc. | | | 3,432,346 | | | | 0.3 | | |
| 8,800 | | | AGCO Corp. | | | 861,344 | | | | 0.1 | | |
| 12,900 | | | Allegion PLC | | | 1,524,135 | | | | 0.1 | | |
| 20,662 | | | AMETEK, Inc. | | | 3,444,562 | | | | 0.3 | | |
| 36,100 (1) | | | API Group Corp. | | | 1,358,443 | | | | 0.1 | | |
| 28,125 (1) | | | Axon Enterprise, Inc. | | | 8,275,500 | | | | 0.8 | | |
| 50,864 | | | Booz Allen Hamilton Holding Corp. | | | 7,827,970 | | | | 0.7 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | |
| | | | Industrials: (continued) | |
| 11,100 | | | BWX Technologies, Inc. | | $ | 1,054,500 | | | | 0.1 | | |
| 22,100 | | | Carrier Global Corp. | | | 1,394,068 | | | | 0.1 | | |
| 13,603 (1) | | | Ceridian HCM Holding, Inc. | | | 674,709 | | | | 0.1 | | |
| 21,200 | | | Cintas Corp. | | | 14,845,512 | | | | 1.4 | | |
| 17,700 (1) | | | Clean Harbors, Inc. | | | 4,002,855 | | | | 0.4 | | |
| 9,000 | | | Comfort Systems USA, Inc. | | | 2,737,080 | | | | 0.3 | | |
| 256,500 (1) | | | Copart, Inc. | | | 13,892,040 | | | | 1.3 | | |
| 62,645 (1) | | | CoStar Group, Inc. | | | 4,644,500 | | | | 0.4 | | |
| 11,287 | | | Equifax, Inc. | | | 2,736,646 | | | | 0.3 | | |
| 29,274 | | | Esab Corp. | | | 2,764,344 | | | | 0.3 | | |
| 130,900 | | | Fastenal Co. | | | 8,225,756 | | | | 0.8 | | |
| 11,450 | | | Ferguson PLC | | | 2,217,293 | | | | 0.2 | | |
| 17,975 | | | Fortune Brands Innovations, Inc. | | | 1,167,296 | | | | 0.1 | | |
| 8,600 (1) | | | FTI Consulting, Inc. | | | 1,853,558 | | | | 0.2 | | |
| 6,600 (1) | | | GE Vernova, Inc. | | | 1,131,966 | | | | 0.1 | | |
| 25,500 | | | HEICO Corp. | | | 5,702,055 | | | | 0.5 | | |
| 44,800 | | | Howmet Aerospace, Inc. | | | 3,477,824 | | | | 0.3 | | |
| 12,500 | | | Hubbell, Inc. | | | 4,568,500 | | | | 0.4 | | |
| 35,900 | | | KBR, Inc. | | | 2,302,626 | | | | 0.2 | | |
| 2,000 | | | Lennox International, Inc. | | | 1,069,960 | | | | 0.1 | | |
| 19,000 (1) | | | Loar Holdings, Inc. | | | 1,014,790 | | | | 0.1 | | |
| 13,000 | | | nVent Electric PLC | | | 995,930 | | | | 0.1 | | |
| 63,900 | | | Old Dominion Freight Line, Inc. | | | 11,284,740 | | | | 1.1 | | |
| 13,300 | | | Otis Worldwide Corp. | | | 1,280,258 | | | | 0.1 | | |
| 17,500 | | | Quanta Services, Inc. | | | 4,446,575 | | | | 0.4 | | |
| 47,800 | | | RB Global, Inc. | | | 3,650,008 | | | | 0.3 | | |
| 6,550 (1) | | | RBC Bearings, Inc. | | | 1,767,059 | | | | 0.2 | | |
| 13,000 | | | Republic Services, Inc. | | | 2,526,420 | | | | 0.2 | | |
| 7,900 | | | Rockwell Automation, Inc. | | | 2,174,712 | | | | 0.2 | | |
| 37,437 | | | Rollins, Inc. | | | 1,826,551 | | | | 0.2 | | |
| 4,900 (1) | | | Saia, Inc. | | | 2,324,021 | | | | 0.2 | | |
| 16,500 (1) | | | SiteOne Landscape Supply, Inc. | | | 2,003,265 | | | | 0.2 | | |
| 14,611 | | | Toro Co. | | | 1,366,275 | | | | 0.1 | | |
| 19,900 | | | Trane Technologies PLC | | | 6,545,707 | | | | 0.6 | | |
| 1,646 | | | TransDigm Group, Inc. | | | 2,102,946 | | | | 0.2 | | |
| 35,300 (1) | | | Trex Co., Inc. | | | 2,616,436 | | | | 0.2 | | |
| 5,050 | | | United Rentals, Inc. | | | 3,265,986 | | | | 0.3 | | |
| 46,156 | | | Verisk Analytics, Inc. | | | 12,441,350 | | | | 1.2 | | |
| 39,600 (1) | | | Verra Mobility Corp. | | | 1,077,120 | | | | 0.1 | | |
| 26,900 | | | Vertiv Holdings Co. - Class A | | | 2,328,733 | | | | 0.2 | | |
| 14,950 | | | Waste Connections, Inc. | | | 2,621,632 | | | | 0.3 | | |
| 5,500 | | | Watsco, Inc. | | | 2,547,820 | | | | 0.2 | | |
| 9,200 | | | Westinghouse Air Brake Technologies Corp. | | | 1,454,060 | | | | 0.1 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | |
| | | | Industrials: (continued) | |
| 49,500 (1) | | | WillScot Mobile Mini Holdings Corp. | | $ | 1,863,180 | | | | 0.2 | | |
| | | | | | | 182,712,962 | | | | 17.0 | | |
| | | | Information Technology: 26.4% | |
| 193,600 | | | Amphenol Corp. - Class A | | | 13,042,832 | | | | 1.2 | | |
| 6,200 (1) | | | Appfolio, Inc. - Class A | | | 1,516,334 | | | | 0.1 | | |
| 32,600 (1) | | | AppLovin Corp. - Class A | | | 2,712,972 | | | | 0.3 | | |
| 11,830 (1)(2) | | | Astera Labs, Inc. | | | 715,833 | | | | 0.1 | | |
| 47,781 | | | Bentley Systems, Inc. - Class B | | | 2,358,470 | | | | 0.2 | | |
| 12,700 (1) | | | BILL Holdings, Inc. | | | 668,274 | | | | 0.1 | | |
| 28,100 (1) | | | Braze, Inc. - Class A | | | 1,091,404 | | | | 0.1 | | |
| 33,733 | | | Broadridge Financial Solutions, Inc. | | | 6,645,401 | | | | 0.6 | | |
| 39,400 | | | CDW Corp. | | | 8,819,296 | | | | 0.8 | | |
| 37,000 (1) | | | Celestica, Inc. | | | 2,121,210 | | | | 0.2 | | |
| 19,900 (1) | | | Ciena Corp. | | | 958,782 | | | | 0.1 | | |
| 109,200 (1) | | | Cloudflare, Inc. - Class A | | | 9,045,036 | | | | 0.8 | | |
| 96,748 (1) | | | Confluent, Inc. - Class A | | | 2,856,968 | | | | 0.3 | | |
| 67,679 (1) | | | Crowdstrike Holdings, Inc. - Class A | | | 25,933,916 | | | | 2.4 | | |
| 10,700 (1) | | | CyberArk Software Ltd. | | | 2,925,594 | | | | 0.3 | | |
| 33,960 (3)(4) | | | Databricks, Inc. | | | 2,496,060 | | | | 0.2 | | |
| 102,046 (1) | | | Datadog, Inc. - Class A | | | 13,234,346 | | | | 1.2 | | |
| 26,300 (1) | | | Descartes Systems Group, Inc. | | | 2,546,892 | | | | 0.2 | | |
| 60,900 (1) | | | DocuSign, Inc. | | | 3,258,150 | | | | 0.3 | | |
| 89,237 (1) | | | Dynatrace, Inc. | | | 3,992,463 | | | | 0.4 | | |
| 29,000 (1) | | | Elastic NV | | | 3,303,390 | | | | 0.3 | | |
| 22,200 (1) | | | Enphase Energy, Inc. | | | 2,213,562 | | | | 0.2 | | |
| 19,200 | | | Entegris, Inc. | | | 2,599,680 | | | | 0.2 | | |
| 4,700 (1) | | | EPAM Systems, Inc. | | | 884,117 | | | | 0.1 | | |
| 13,900 (1) | | | Euronet Worldwide, Inc. | | | 1,438,650 | | | | 0.1 | | |
| 8,250 (1) | | | Fair Isaac Corp. | | | 12,281,445 | | | | 1.1 | | |
| 5,346 (1) | | | First Solar, Inc. | | | 1,205,309 | | | | 0.1 | | |
| 17,600 (1) | | | Fortinet, Inc. | | | 1,060,752 | | | | 0.1 | | |
| 23,000 (1) | | | Gartner, Inc. | | | 10,328,380 | | | | 1.0 | | |
| 6,300 (1) | | | Globant SA | | | 1,123,038 | | | | 0.1 | | |
| 50,400 (1) | | | GoDaddy, Inc. - Class A | | | 7,041,384 | | | | 0.7 | | |
| 8,100 (1) | | | Guidewire Software, Inc. | | | 1,116,909 | | | | 0.1 | | |
| 15,816 (1) | | | HubSpot, Inc. | | | 9,328,119 | | | | 0.9 | | |
| 7,450 (1) | | | Keysight Technologies, Inc. | | | 1,018,788 | | | | 0.1 | | |
| 40,900 (1) | | | Lattice Semiconductor Corp. | | | 2,371,791 | | | | 0.2 | | |
| 25,200 (1) | | | Manhattan Associates, Inc. | | | 6,216,336 | | | | 0.6 | | |
| 112,834 | | | Microchip Technology, Inc. | | | 10,324,311 | | | | 1.0 | | |
| 11,000 | | | MKS Instruments, Inc. | | | 1,436,380 | | | | 0.1 | | |
| 11,800 (1) | | | Monday.com Ltd. | | | 2,840,968 | | | | 0.3 | | |
| 27,239 (1) | | | MongoDB, Inc. | | | 6,808,661 | | | | 0.6 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | | |
| | | | Information Technology: (continued) | |
| 16,200 | | | Monolithic Power Systems, Inc. | | $ | 13,311,216 | | | | 1.2 | | |
| 2,800 | | | Motorola Solutions, Inc. | | | 1,080,940 | | | | 0.1 | | |
| 65,900 (1) | | | Nutanix, Inc. - Class A | | | 3,746,415 | | | | 0.4 | | |
| 14,200 (1) | | | ON Semiconductor Corp. | | | 973,410 | | | | 0.1 | | |
| 15,500 (1) | | | Onto Innovation, Inc. | | | 3,403,180 | | | | 0.3 | | |
| 641,300 (1) | | | Palantir Technologies, Inc. - Class A | | | 16,244,129 | | | | 1.5 | | |
| 88,300 | | | Paychex, Inc. | | | 10,468,848 | | | | 1.0 | | |
| 18,100 (1) | | | Paylocity Holding Corp. | | | 2,386,485 | | | | 0.2 | | |
| 19,736 (1) | | | Procore Technologies, Inc. | | | 1,308,694 | | | | 0.1 | | |
| 25,075 (1) | | | PTC, Inc. | | | 4,555,375 | | | | 0.4 | | |
| 70,700 (1) | | | Pure Storage, Inc. - Class A | | | 4,539,647 | | | | 0.4 | | |
| 142,200 (1) | | | Samsara, Inc. - Class A | | | 4,792,140 | | | | 0.5 | | |
| 2,700 (1) | | | Super Micro Computer, Inc. | | | 2,212,245 | | | | 0.2 | | |
| 31,626 (3)(4) | | | Tanium, Inc. - Class B | | | 155,284 | | | | 0.0 | | |
| 12,200 | | | TE Connectivity Ltd. | | | 1,835,246 | | | | 0.2 | | |
| 24,900 | | | Teradyne, Inc. | | | 3,692,421 | | | | 0.4 | | |
| 12,700 (1) | | | Tyler Technologies, Inc. | | | 6,385,306 | | | | 0.6 | | |
| 12,500 (1) | | | Workiva, Inc. | | | 912,375 | | | | 0.1 | | |
| 4,500 (1) | | | Zebra Technologies Corp. - Class A | | | 1,390,185 | | | | 0.1 | | |
| 43,000 (1) | | | Zscaler, Inc. | | | 8,264,170 | | | | 0.8 | | |
| | | | | | | 283,539,914 | | | | 26.4 | | |
| | | | Materials: 0.7% | |
| 5,200 | | | Avery Dennison Corp. | | | 1,136,980 | | | | 0.1 | | |
| 13,500 | | | CF Industries Holdings, Inc. | | | 1,000,620 | | | | 0.1 | | |
| 12,700 | | | RPM International, Inc. | | | 1,367,536 | | | | 0.1 | | |
| 13,400 | | | Steel Dynamics, Inc. | | | 1,735,300 | | | | 0.2 | | |
| 11,100 | | | Vulcan Materials Co. | | | 2,760,348 | | | | 0.2 | | |
| | | | | | | 8,000,784 | | | | 0.7 | | |
| | | | Real Estate: 1.4% | |
| 38,700 | | | CubeSmart | | | 1,748,079 | | | | 0.2 | | |
| 18,800 | | | Equity LifeStyle Properties, Inc. | | | 1,224,444 | | | | 0.1 | | |
| 35,700 | | | Iron Mountain, Inc. | | | 3,199,434 | | | | 0.3 | | |
| 35,243 | | | Lamar Advertising Co. - Class A | | | 4,212,596 | | | | 0.4 | | |
| 18,700 | | | Rexford Industrial Realty, Inc. | | | 833,833 | | | | 0.1 | | |
| 16,400 | | | Simon Property Group, Inc. | | | 2,489,520 | | | | 0.2 | | |
| 17,200 | | | Terreno Realty Corp. | | | 1,017,896 | | | | 0.1 | | |
| | | | | | | 14,725,802 | | | | 1.4 | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| COMMON STOCK: (continued) | |
| | | | Utilities: 0.5% | |
| 66,500 | | | Vistra Corp. | | $ | 5,717,670 | | | | 0.5 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | Total Common Stock
(Cost $857,561,305) | | | 1,063,218,584 | | | | 99.0 | | |
| PREFERRED STOCK: 0.8% | |
| | | | Consumer Discretionary: 0.1% | |
| 32,438 (3)(4) | | | Rappi, Inc. - Series E | | | 736,992 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | Health Care: 0.0% | |
| 123,878 (3)(4) | | | Caris Life Sciences, Inc. - Series D | | | 450,916 | | | | 0.0 | | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | | Information Technology: 0.7% | |
| 73,377 (3)(4) | | | Databricks, Inc., - Series F | | | 5,393,209 | | | | 0.5 | | |
| 7,908 (3)(4) | | | Databricks, Inc., - Series G | | | 581,238 | | | | 0.0 | | |
| 353,970 (3)(4) | | | Tanium, Inc. - Series G | | | 1,737,993 | | | | 0.2 | | |
| | | | | | | 7,712,440 | | | | 0.7 | | |
| | | | Total Preferred Stock
(Cost $6,216,684) | | | 8,900,348 | | | | 0.8 | | |
| | | | Total Long-Term Investments
(Cost $863,777,989) | | | 1,072,118,932 | | | | 99.8 | | |
| | | | | | | | | | | | | |
Principal
Amount† | | | | | | Value | | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: 0.7% | |
| | | | Repurchase Agreements: 0.5% | |
| 578,313 (5) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $578,572, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $589,879, due 10/01/27-01/01/57) | | | 578,313 | | | | 0.1 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Principal
Amount† | | | | | Value | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | | Repurchase Agreements (continued) | |
| 1,386,525 (5) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,387,144, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,414,256, due 08/08/24-04/20/74) | | $ | 1,386,525 | | | | 0.1 | | |
| 1,386,525 (5) | | | CF Secured LLC, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,387,144, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.500%, Market Value plus accrued interest $1,414,256, due 04/30/27-04/20/72) | | | 1,386,525 | | | | 0.2 | | |
| 1,300,000 (5) | | | State of Wisconsin Investment Board, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $1,300,582, collateralized by various U.S. Government Securities, 0.125%-3.625%, Market Value plus accrued interest $1,323,465, due 10/15/25-02/15/53) | | | 1,300,000 | | | | 0.1 | | |
| | | | Total Repurchase Agreements
(Cost $4,651,363) | | | 4,651,363 | | | | 0.5 | | |
| | | | Time Deposits: 0.1% | |
| 130,000 (5) | | | BNP Paribas SA, 5.290%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.1 | | |
| 130,000 (5) | | | Canadian Imperial Bank of Commerce, 5.310%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
Principal
Amount† | | | | | | Value | | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | | Time Deposits (continued) | |
| 130,000 (5) | | | Credit Agricole Corporate and Investment Bank, 5.300%, 07/01/2024
(Cost $130,000) | | $ | 130,000 | | | | 0.0 | | |
| 130,000 (5) | | | DZ Bank AG, 5.300%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
| 130,000 (5) | | | HSBC Bank PLC, 5.380%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
| 110,000 (5) | | | Landesbank Hessen Thueringen Girozentrale, 5.320%, 07/01/2024
(Cost $110,000) | | | 110,000 | | | | 0.0 | | |
| 130,000 (5) | | | Mizuho Bank Ltd., 5.320%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
| 130,000 (5) | | | Royal Bank of Canada, 5.320%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
| 130,000 (5) | | | Skandinaviska Enskilda Banken AB, 5.310%, 07/01/2024
(Cost $130,000) | | | 130,000 | | | | 0.0 | | |
| | | | Total Time Deposits
(Cost $1,150,000) | | | 1,150,000 | | | | 0.1 | | |
| | | | | | | | | | | | | |
| Shares | | | | | | Value | | | | Percentage
of Net
Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | | Mutual Funds: 0.1% | |
| 1,202,307 (6) | | | T. Rowe Price Government Reserve Fund, 5.400%
(Cost $1,202,307) | | $ | 1,202,307 | | | | 0.1 | | |
| | | | Total Short-Term Investments
(Cost $7,003,670) | | | 7,003,670 | | | | 0.7 | | |
| | | | Total Investments in Securities
(Cost $870,781,659) | | $ | 1,079,122,602 | | | | 100.5 | | |
| | | | Liabilities in Excess of Other Assets | | | (4,888,684) | | | | (0.5) | | |
| | | | Net Assets | | $ | 1,074,233,918 | | | | 100.0 | | |
| ADR | American Depositary Receipt |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Non-income producing security. |
| (2) | Security, or a portion of the security, is on loan. |
| (3) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (4) | Restricted security as to resale, excluding Rule 144A securities. As of June 30, 2024, the Portfolio held restricted securities with a fair value of $11,551,692 or 1.1% of net assets. Please refer to the table below for additional details. |
| (5) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (6) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices | | | | | | | | | | |
| | | in Active Markets | | | Significant Other | | | Significant | | | | |
| | | for Identical | | | Observable | | | Unobservable | | | Fair Value | |
| | | Investments | | | Inputs | | | Inputs | | | at | |
| | | (Level 1) | | | (Level 2) | | | (Level 3) | | | June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 52,574,165 | | | $ | — | | | $ | — | | | $ | 52,574,165 | |
| Consumer Discretionary | | | 152,159,307 | | | | — | | | | — | | | | 152,159,307 | |
| Consumer Staples | | | 24,705,389 | | | | — | | | | — | | | | 24,705,389 | |
| Energy | | | 39,235,458 | | | | — | | | | — | | | | 39,235,458 | |
| Financials | | | 118,067,606 | | | | — | | | | — | | | | 118,067,606 | |
| Health Care | | | 181,779,527 | | | | — | | | | — | | | | 181,779,527 | |
| Industrials | | | 182,712,962 | | | | — | | | | — | | | | 182,712,962 | |
| Information Technology | | | 280,888,570 | | | | — | | | | 2,651,344 | | | | 283,539,914 | |
| Materials | | | 8,000,784 | | | | — | | | | — | | | | 8,000,784 | |
| Real Estate | | | 14,725,802 | | | | — | | | | — | | | | 14,725,802 | |
| Utilities | | | 5,717,670 | | | | — | | | | — | | | | 5,717,670 | |
| Total Common Stock | | | 1,060,567,240 | | | | — | | | | 2,651,344 | | | | 1,063,218,584 | |
| Preferred Stock | | | — | | | | — | | | | 8,900,348 | | | | 8,900,348 | |
| Short-Term Investments | | | 1,202,307 | | | | 5,801,363 | | | | — | | | | 7,003,670 | |
| Total Investments, at fair value | | $ | 1,061,769,547 | | | $ | 5,801,363 | | | $ | 11,551,692 | | | $ | 1,079,122,602 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
At June 30, 2024, VY® T. Rowe Price Diversified Mid Cap Growth Portfolio held the following restricted securities:
| Security | | Acquisition Date | | Acquisition Cost | | | Fair Value | | |
| Caris Life Sciences, Inc. - Series D | | 5/11/2021 | | $ | 1,003,412 | | | $ | 450,916 | | |
| Databricks, Inc. | | 7/24/2020 | | | 543,644 | | | | 2,496,060 | | |
| Databricks, Inc., - Series F | | 10/22/2019 | | | 1,050,475 | | | | 5,393,209 | | |
| Databricks, Inc., - Series G | | 2/1/2021 | | | 467,542 | | | | 581,238 | | |
| Rappi, Inc. - Series E | | 9/8/2020 | | | 1,938,042 | | | | 736,992 | | |
| Tanium, Inc. - Class B | | 9/24/2020 | | | 360,385 | | | | 155,284 | | |
| Tanium, Inc. - Series G | | 8/26/2015 | | | 1,757,213 | | | | 1,737,993 | | |
| | | | | $ | 7,120,713 | | | $ | 11,551,692 | | |
The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 at June 30, 2024:
| | | | | | | Significant | | Value or | | Weighted | | Impact to Valuation |
| | | Fair Value at | | Valuation | | Unobservable | | Range of | | Average of | | from an Increase in |
| Investments, at fair value | | June 30, 2024 | | Technique(s) * | | Input(s) | | Input(s) | | Inputs *** | | Input **** |
| Common Stocks | | $2,651,344 | | Market Approach | | Recent Comparable | | —** | | —** | | —** |
| | | | | | | Transaction Price(s) | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 7.1x | | 7.1x | | Increase |
| | | | | | | Gross Profit Multiple | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 5.7x | | 5.7x | | Increase |
| | | | | | | Sales Multiple | | | | | | |
| | | | | Market Approach | | DLOM | | 10% | | 10% | | Decrease |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
| | | | | | | Significant | | Value or | | Weighted | | Impact to Valuation |
| | | Fair Value at | | Valuation | | Unobservable | | Range of | | Average of | | from an Increase in |
| Investments, at fair value | | June 30, 2024 | | Technique(s) * | | Input(s) | | Input(s) | | Inputs *** | | Input **** |
| Preferred Stocks | | $8,900,348 | | Market Approach | | Recent Comparable | | —** | | —** | | —** |
| | | | | | | Transaction Price(s) | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 5.0x - 7.1x | | 5.0x - 7.1x | | Increase |
| | | | | | | Gross Profit Multiple | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 5.7x | | 5.7x | | Increase |
| | | | | | | Sales Multiple | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 0.5x – 0.6x | | 0.5x – 0.6x | | Increase |
| | | | | | | Gross Merchandise | | | | | | |
| | | | | | | Value | | | | | | |
| | | | | Market Approach | | Enterprise Value to | | 14.5x – 23.1x | | 14.5x – 23.1x | | Increase |
| | | | | | | EBITDA Multiple | | | | | | |
| | | | | Market Approach | | Projected Enterprise | | 6.8x – 8.4x | | 6.8x – 8.4x | | Increase |
| | | | | | | Value to Gross Profit | | | | | | |
| | | | | | | Multiple | | | | | | |
| | | | | Market Approach | | Projected Enterprise | | 4.3x – 5.1x | | 4.3x – 5.1x | | Increase |
| | | | | | | Value to Sales | | | | | | |
| | | | | | | Multiple | | | | | | |
| | | | | Market Approach | | DLOM | | 10% | | 10% | | Decrease |
| Total Investments, at fair value | $11,551,692 | | | | | | | | | | |
| * | Valuation techniques may change in order to reflect management’s judgment of current market participant assumptions. |
| ** | No quantitative unobservable inputs significant to the valuation technique were created by the Portfolio’s management. |
| *** | Unobservable inputs were weighted by the relative fair value of the instruments. |
| **** | Represents the directional change in the fair value of the Level 3 investment(s) that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities during the period ended June 30, 2024:
| | | Common Stocks | | | Preferred Stocks | | | Total | |
| Beginning balance at December 31, 2023 | | $ | 2,651,344 | | | $ | 8,900,348 | | | $ | 11,551,692 | |
| Purchases | | | — | | | | — | | | | — | |
| Sales | | | — | | | | — | | | | — | |
| Accrued discounts/(premiums) | | | — | | | | — | | | | — | |
| Total realized gain (loss) | | | — | | | | — | | | | — | |
| Net change in unrealized appreciation (depreciation)***** | | | — | | | | — | | | | — | |
| Transfers into Level 3 | | | — | | | | — | | | | — | |
| Transfers out of Level 3 | | | — | | | | — | | | | — | |
| Ending balance at June 30, 2024 | | $ | 2,651,344 | | | $ | 8,900,348 | | | $ | 11,551,692 | |
| Net change in unrealized appreciation (depreciation) on Level 3 securities still held as of June 30, 2024***** | | $ | — | | | $ | — | | | $ | — | |
| ***** | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on Level 3 securities still held at June 30, 2024 may be due to securities no longer held or categorized as Level 3 at period end. |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Diversified Mid Cap Growth Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $871,847,992. |
| Net unrealized appreciation consisted of: |
| Gross Unrealized Appreciation | | $ | 249,123,054 | |
| Gross Unrealized Depreciation | | | (41,848,444 | ) |
| Net Unrealized Appreciation | | $ | 207,274,610 | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Growth Equity Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: 95.4% | | |
| | | | Communication Services: 15.1% | |
| 600,951 | | | Alphabet, Inc. - Class A | | $ | 109,463,224 | | | | 6.9 | | |
| 27,693 | | | Alphabet, Inc. - Class C | | | 5,079,450 | | | | 0.3 | | |
| 5,269 (1)(2) | | | Epic Games, Inc. | | | 3,178,261 | | | | 0.2 | | |
| 151,853 | | | Meta Platforms, Inc. - Class A | | | 76,567,320 | | | | 4.9 | | |
| 39,425 (3) | | | Netflix, Inc. | | | 26,607,144 | | | | 1.7 | | |
| 170,188 (3) | | | Pinterest, Inc. - Class A | | | 7,500,185 | | | | 0.5 | | |
| 31,515 (3) | | | Spotify Technology SA | | | 9,889,092 | | | | 0.6 | | |
| | | | | | | 238,284,676 | | | | 15.1 | | |
| | | | Consumer Discretionary: 13.2% | |
| 655,298 (3) | | | Amazon.com, Inc. | | | 126,636,339 | | | | 8.0 | | |
| 1,463 | | | Booking Holdings, Inc. | | | 5,795,674 | | | | 0.4 | | |
| 204,600 (3) | | | Chipotle Mexican Grill, Inc. | | | 12,818,190 | | | | 0.8 | | |
| 475,159 (3) | | | Coupang, Inc. | | | 9,954,581 | | | | 0.6 | | |
| 83,678 | | | Dollar General Corp. | | | 11,064,742 | | | | 0.7 | | |
| 15,472 | | | Ferrari NV | | | 6,318,301 | | | | 0.4 | | |
| 31,318 (3) | | | Floor & Decor Holdings, Inc. - Class A | | | 3,113,322 | | | | 0.2 | | |
| 596,283 (3)(4) | | | Rivian Automotive, Inc. - Class A | | | 8,002,118 | | | | 0.5 | | |
| 58,300 | | | Starbucks Corp. | | | 4,538,655 | | | | 0.3 | | |
| 99,800 (3) | | | Tesla, Inc. | | | 19,748,424 | | | | 1.3 | | |
| | | | | | | 207,990,346 | | | | 13.2 | | |
| | | | Financials: 1.9% | |
| 157,395 | | | Charles Schwab Corp. | | | 11,598,438 | | | | 0.7 | | |
| 29,427 | | | Chubb Ltd. | | | 7,506,239 | | | | 0.5 | | |
| 70,187 (3) | | | Fiserv, Inc. | | | 10,460,670 | | | | 0.7 | | |
| | | | | | | 29,565,347 | | | | 1.9 | | |
| | | | Health Care: 9.5% | |
| 18,083 (3) | | | Argenx SE, ADR | | | 7,776,413 | | | | 0.5 | | |
| 30,527 | | | Cigna Group | | | 10,091,310 | | | | 0.6 | | |
| 47,619 | | | Danaher Corp. | | | 11,897,607 | | | | 0.8 | | |
| 60,238 | | | Eli Lilly & Co. | | | 54,538,280 | | | | 3.5 | | |
| 4,500 (3) | | | IDEXX Laboratories, Inc. | | | 2,192,400 | | | | 0.1 | | |
| 53,752 (3) | | | Intuitive Surgical, Inc. | | | 23,911,577 | | | | 1.5 | | |
| 69,172 (3) | | | Legend Biotech Corp., ADR | | | 3,063,628 | | | | 0.2 | | |
| 20,370 | | | Stryker Corp. | | | 6,930,893 | | | | 0.4 | | |
| 11,204 | | | Thermo Fisher Scientific, Inc. | | | 6,195,812 | | | | 0.4 | | |
| 45,621 | | | UnitedHealth Group, Inc. | | | 23,232,951 | | | | 1.5 | | |
| | | | | | | 149,830,871 | | | | 9.5 | | |
| | | | Industrials: 2.2% | |
| 37,823 | | | Airbus SE | | | 5,191,084 | | | | 0.3 | | |
| 40,358 | | | Old Dominion Freight Line, Inc. | | | 7,127,223 | | | | 0.4 | | |
| 21,146 | | | Rockwell Automation, Inc. | | | 5,821,071 | | | | 0.4 | | |
| 233,666 (3) | | | Uber Technologies, Inc. | | | 16,982,845 | | | | 1.1 | | |
| | | | | | 35,122,223 | | | | 2.2 | | |
Shares | | | | | Value | | | Percentage of Net Assets | |
| COMMON STOCK: (continued) | | |
| | | | Information Technology: 53.1% | |
| 32,952 (3) | | | Adobe, Inc. | | $ | 18,306,154 | | | | 1.2 | | |
| 63,651 (3) | | | Advanced Micro Devices, Inc. | | | 10,324,829 | | | | 0.6 | | |
| 29,352 | | | Amphenol Corp. - Class A | | | 1,977,444 | | | | 0.1 | | |
| 2,301,805 (1)(2) | | | Ant International Co. - Balanced Owed | | | 2,321,600 | | | | 0.1 | | |
| 708,855 | | | Apple, Inc. | | | 149,299,040 | | | | 9.4 | | |
| 22,700 | | | ASML Holding N.V. | | | 23,215,971 | | | | 1.5 | | |
| 53,772 (3) | | | Atlassian Corp. - Class A | | | 9,511,191 | | | | 0.6 | | |
| 39,500 (3) | | | Autodesk, Inc. | | | 9,774,275 | | | | 0.6 | | |
| 5,500 | | | Broadcom, Inc. | | | 8,830,415 | | | | 0.5 | | |
| 114,676 (3) | | | Dynatrace, Inc. | | | 5,130,604 | | | | 0.3 | | |
| 130,648 (3) | | | Fortinet, Inc. | | | 7,874,155 | | | | 0.5 | | |
| 154,800 | | | Intel Corp. | | | 4,794,156 | | | | 0.3 | | |
| 32,862 | | | Intuit, Inc. | | | 21,597,235 | | | | 1.4 | | |
| 10,202 | | | Lam Research Corp. | | | 10,863,600 | | | | 0.7 | | |
| 7,871 (1)(2) | | | Magic Leap, Inc. - Class A | | | — | | | | — | | |
| 70,657 | | | Mastercard, Inc. - Class A | | | 31,171,042 | | | | 2.0 | | |
| 454,079 | | | Microsoft Corp. | | | 202,950,609 | | | | 12.8 | | |
| 2,099 (3) | | | Monday.com Ltd. | | | 505,355 | | | | 0.0 | | |
| 5,995 (3) | | | MongoDB, Inc. | | | 1,498,510 | | | | 0.1 | | |
| 1,505,755 | | | NVIDIA Corp. | | | 186,020,973 | | | | 11.8 | | |
| 19,490 | | | Roper Technologies, Inc. | | | 10,985,734 | | | | 0.7 | | |
| 34,555 | | | Salesforce, Inc. | | | 8,884,091 | | | | 0.6 | | |
| 30,951 (3) | | | ServiceNow, Inc. | | | 24,348,223 | | | | 1.5 | | |
| 206,207 (3) | | | Shopify, Inc. - USD - Class A | | | 13,619,972 | | | | 0.9 | | |
| 19,431 (3) | | | Snowflake, Inc. - Class A | | | 2,624,934 | | | | 0.2 | | |
| 51,440 (1)(2) | | | Stripe, Inc. - Class B | | | 1,337,440 | | | | 0.1 | | |
| 20,200 (3) | | | Synopsys, Inc. | | | 12,020,212 | | | | 0.8 | | |
| 50,961 | | | Taiwan Semiconductor Manufacturing Co. Ltd., ADR | | | 8,857,532 | | | | 0.6 | | |
| 31,698 (3) | | | Teledyne Technologies, Inc. | | | 12,298,190 | | | | 0.8 | | |
| 144,119 | | | Visa, Inc. - Class A | | | 37,826,914 | | | | 2.4 | | |
| | | | | | | 838,770,400 | | | | 53.1 | | |
| | | | Materials: 0.4% | |
| 15,790 | | | Linde PLC US | | | 6,928,810 | | | | 0.4 | | |
| | | | Total Common Stock (Cost $920,229,683) | | | 1,506,492,673 | | | | 95.4 | | |
| PREFERRED STOCK: 0.6% | |
| | | | Consumer Discretionary: 0.2% | |
| 38,487 (1)(2) | | | Rappi, Inc. - Series E | | | 874,424 | | | | 0.1 | | |
| 37,201 (1)(2) | | | Sila Nanotechnologies, Inc., - Series F | | | 727,421 | | | | 0.0 | | |
| 18,931 (1)(2) | | | Waymo LLC., Series A-2 | | | 1,168,043 | | | | 0.1 | | |
| | | | | | | 2,769,888 | | | | 0.2 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Growth Equity Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Shares | | | | | Value | | | Percentage of Net Assets | |
| PREFERRED STOCK: (continued) | |
| | | | Health Care: 0.3% | |
| 21,625 | | | Sartorius AG | | $ | 5,062,113 | | | | 0.3 | | |
| | | | | | | | | | | | | |
| | | | Industrials: 0.1% | |
| 159,700 (1)(2) | | | GM Cruise Holdings, LLC Class F | | | 932,648 | | | | 0.1 | | |
| 132,943 (1)(2) | | | Nuro, Inc. - Series C | | | 543,737 | | | | 0.0 | | |
| | | | | | | 1,476,385 | | | | 0.1 | | |
| | | | Total Preferred Stock (Cost $18,033,161) | | | 9,308,386 | | | | 0.6 | | |
| | | | Total Long-Term Investments (Cost $938,262,844) | | | 1,515,801,059 | | | | 96.0 | | |
| | | | | | | | | | | | | |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: 0.5% | |
| | | | Repurchase Agreements: 0.4% | |
| 618,275 (5) | | | Bethesda Securities, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $618,552, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-6.070%, Market Value plus accrued interest $630,640, due 10/01/27-01/01/57) | | | 618,275 | | | | 0.1 | | |
| 1,729,899 (5) | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,730,671, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,764,497, due 08/08/24-04/20/74) | | | 1,729,899 | | | | 0.1 | | |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | Repurchase Agreements (continued) | |
| 1,729,899 (5) | | | CF Secured LLC, Repurchase Agreement dated 06/28/2024, 5.430%, due 07/01/2024 (Repurchase Amount $1,730,671, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.500%, Market Value plus accrued interest $1,764,497, due 04/30/27-04/20/72) | | $ | 1,729,899 | | | | 0.1 | | |
| 1,600,000 (5) | | | State of Wisconsin Investment Board, Repurchase Agreement dated 06/28/2024, 5.450%, due 07/01/2024 (Repurchase Amount $1,600,717, collateralized by various U.S. Government Securities, 0.125%-3.625%, Market Value plus accrued interest $1,628,880, due 10/15/25-02/15/53) | | | 1,600,000 | | | | 0.1 | | |
| | | | Total Repurchase Agreements (Cost $5,678,073) | | | 5,678,073 | | | | 0.4 | | |
| | | Time Deposits: 0.1% | | | | | | |
| 160,000 (5) | | | BNP Paribas SA, 5.290%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.1 | | |
| 160,000 (5) | | | Canadian Imperial Bank of Commerce, 5.310%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.0 | | |
| 160,000 (5) | | | Credit Agricole Corporate and Investment Bank, 5.300%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.0 | | |
| 150,000 (5) | | | DZ Bank AG, 5.300%, 07/01/2024 (Cost $150,000) | | | 150,000 | | | | 0.0 | | |
| 160,000 (5) | | | HSBC Bank PLC, 5.380%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.0 | | |
| 140,000 (5) | | | Landesbank Hessen Thueringen Girozentrale, 5.320%, 07/01/2024 (Cost $140,000) | | | 140,000 | | | | 0.0 | | |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Growth Equity Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Principal Amount† | | | | | Value | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | | Time Deposits (continued) | |
| 160,000 (5) | | | Mizuho Bank Ltd., 5.320%, 07/01/2024 (Cost $160,000) | | $ | 160,000 | | | | 0.0 | | |
| 160,000 (5) | | | Royal Bank of Canada, 5.320%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.0 | | |
| 160,000 (5) | | | Skandinaviska Enskilda Banken AB, 5.310%, 07/01/2024 (Cost $160,000) | | | 160,000 | | | | 0.0 | | |
| 150,000 (5) | | | Svenska Handelsbanken AB, 5.310%, 07/01/2024 (Cost $150,000) | | | 150,000 | | | | 0.0 | | |
| | | | Total Time Deposits (Cost $1,560,000) | | | 1,560,000 | | | | 0.1 | | |
| Shares | | | | | | Value | | | | Percentage of Net Assets | |
| SHORT-TERM INVESTMENTS: (continued) | |
| | | Mutual Funds: 0.0% | | | | | | |
| 41,815 (6) | | | T. Rowe Price Government Reserve Fund, 5.400% (Cost $41,815) | | $ | 41,815 | | | | 0.0 | | |
| | | | | | | | | | | | | |
| | | | Total Short-Term Investments (Cost $7,279,888) | | | 7,279,888 | | | | 0.5 | | |
| | | | Total Investments in Securities (Cost $945,542,732) | | $ | 1,523,080,947 | | | | 96.5 | | |
| | | | Assets in Excess of Other Liabilities | | | 55,179,181 | | | | 3.5 | | |
| | | | Net Assets | | $ | 1,578,260,128 | | | | 100.0 | | |
| ADR | American Depositary Receipt |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (2) | Restricted security as to resale, excluding Rule 144A securities. As of June 30, 2024, the Portfolio held restricted securities with a fair value of $11,083,574 or 0.7% of net assets. Please refer to the table below for additional details. |
| (3) | Non-income producing security. |
| (4) | Security, or a portion of the security, is on loan. |
| (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 June 30, 2024. |
See Accompanying Notes to Financial Statements
VY® T. Rowe Price Growth Equity Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Common Stock | | | | | | | | | | | | | | | | |
| Communication Services | | $ | 235,106,415 | | | $ | — | | | $ | 3,178,261 | | | $ | 238,284,676 | |
| Consumer Discretionary | | | 207,990,346 | | | | — | | | | — | | | | 207,990,346 | |
| Financials | | | 29,565,347 | | | | — | | | | — | | | | 29,565,347 | |
| Health Care | | | 149,830,871 | | | | — | | | | — | | | | 149,830,871 | |
| Industrials | | | 29,931,139 | | | | 5,191,084 | | | | — | | | | 35,122,223 | |
| Information Technology | | | 835,111,360 | | | | — | | | | 3,659,040 | | | | 838,770,400 | |
| Materials | | | 6,928,810 | | | | — | | | | — | | | | 6,928,810 | |
| Total Common Stock | | | 1,494,464,288 | | | | 5,191,084 | | | | 6,837,301 | | | | 1,506,492,673 | |
| Preferred Stock | | | — | | | | 5,062,113 | | | | 4,246,273 | | | | 9,308,386 | |
| Short-Term Investments | | | 41,815 | | | | 7,238,073 | | | | — | | | | 7,279,888 | |
| Total Investments, at fair value | | $ | 1,494,506,103 | | | $ | 17,491,270 | | | $ | 11,083,574 | | | $ | 1,523,080,947 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
| # | 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. |
At June 30, 2024, VY® T. Rowe Price Growth Equity Portfolio held the following restricted securities:
| Security | | Acquisition Date | | Acquisition Cost | | | Fair Value | |
| Ant International Co. - Balanced Owed | | 8/24/2023 | | $ | 2,301,805 | | | $ | 2,321,600 | |
| Epic Games, Inc. | | 6/18/2020 | | | 3,029,675 | | | | 3,178,261 | |
| GM Cruise Holdings, LLC Class F | | 5/7/2019 | | | 2,914,525 | | | | 932,648 | |
| Magic Leap, Inc. - Class A | | 1/20/2016 | | | 3,824,971 | | | | — | |
| Nuro, Inc. - Series C | | 10/30/2020 | | | 1,735,518 | | | | 543,737 | |
| Rappi, Inc. - Series E | | 9/8/2020 | | | 2,299,446 | | | | 874,424 | |
| Sila Nanotechnologies, Inc., - Series F | | 1/7/2021 | | | 1,535,389 | | | | 727,421 | |
| Stripe, Inc. - Class B | | 12/17/2019 | | | 807,094 | | | | 1,337,440 | |
| Waymo LLC., Series A-2 | | 5/8/2020 | | | 1,625,552 | | | | 1,168,043 | |
| | | | | $ | 20,073,975 | | | $ | 11,083,574 | |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $952,387,177. | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 609,697,629 | |
| Gross Unrealized Depreciation | | | (38,906,853 | ) |
| Net Unrealized Appreciation | | $ | 570,790,776 | |
See Accompanying Notes to Financial Statements
[This Page Intentionally Left Blank]
| Investment Adviser | Custodian |
Voya Investments, LLC 7337 East Doubletree Ranch Road, Suite 100 Scottsdale, Arizona 85258 | The Bank of New York Mellon 225 Liberty Street New York, New York 10286 |
| | |
| Distributor | Legal Counsel |
Voya Investments Distributor, LLC 7337 East Doubletree Ranch Road, Suite 100 Scottsdale, Arizona 85258 | Ropes & Gray LLP Prudential Tower 800 Boylston Street Boston, Massachusetts 02199 |
| | |
| Transfer Agent |
BNY Mellon Investment Servicing (U.S.) Inc. 301 Bellevue Parkway Wilmington, Delaware 19809 |
Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract or variable life insurance policy and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract or variable life insurance policy and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.
VPSAR-VPI (0624)
Semi-Annual Report Financial Statements and Other Information
June 30, 2024
Classes ADV, I, R6, S, and S2
Voya Partners, Inc.
| ■ | Voya Solution Aggressive Portfolio | ■ | Voya Solution 2035 Portfolio |
| ■ | Voya Solution Balanced Portfolio | ■ | Voya Solution 2040 Portfolio |
| ■ | Voya Solution Conservative Portfolio | ■ | Voya Solution 2045 Portfolio |
| ■ | Voya Solution Income Portfolio | ■ | Voya Solution 2050 Portfolio |
| ■ | Voya Solution Moderately Aggressive Portfolio | ■ | Voya Solution 2055 Portfolio |
| ■ | Voya Solution Moderately Conservative Portfolio | ■ | Voya Solution 2060 Portfolio |
| ■ | Voya Solution 2025 Portfolio | ■ | Voya Solution 2065 Portfolio |
| ■ | Voya Solution 2030 Portfolio | | |
This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully.
| | E-Delivery Sign-up – details inside |
| INVESTMENT MANAGEMENT |
|
| voyainvestments.com | |
TABLE OF CONTENTS
Go Paperless with E-Delivery! Sign up now for on-line prospectuses, tailored shareholder reports, and proxy statements. Just go to individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll. You will be notified by e-mail when these communications become available on the internet. |
|---|
PROXY VOTING INFORMATION
A description of the policies and procedures that the Portfolios use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Portfolios’ website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Portfolios voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Portfolios’ website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Portfolios’ Forms NPORT-P are available on the SEC’s website at www.sec.gov. Each Portfolio’s complete schedule of portfolio holdings is available at: https://individuals.voya.com/product/mutual-fund/ prospectuses-reports and without charge upon request from the Portfolio by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Solution
Aggressive
Portfolio | | | Voya Solution
Balanced
Portfolio | | | Voya Solution
Conservative
Portfolio | | | Voya Solution
Income
Portfolio | |
| ASSETS: | | | | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 37,735,886 | | | $ | 54,212,985 | | | $ | 8,772,572 | | | $ | 147,103,021 | |
| Investments in unaffiliated underlying funds at fair value** | | | – | | | | 1,078,501 | | | | 659,368 | | | | 25,849,055 | |
| Cash | | | 32 | | | | 28,451 | | | | 4,375 | | | | 82,793 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Fund shares sold | | | 46,088 | | | | 30,331 | | | | 3,623 | | | | 66,737 | |
| Interest | | | 15 | | | | 19 | | | | 19 | | | | 386 | |
| Prepaid expenses | | | 139 | | | | 207 | | | | 73 | | | | 860 | |
| Reimbursement due from Investment Adviser | | | 656 | | | | – | | | | 802 | | | | 6,622 | |
| Other assets | | | 518 | | | | 1,989 | | | | 596 | | | | 23,207 | |
| Total assets | | | 37,783,334 | | | | 55,352,483 | | | | 9,441,428 | | | | 173,132,681 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | 38,944 | | | | 30,270 | | | | 3,608 | | | | 43,688 | |
| Payable for fund shares redeemed | | | 7,138 | | | | – | | | | – | | | | 22,881 | |
| Payable for investment management fees | | | 6,183 | | | | 9,435 | | | | 2,984 | | | | 48,774 | |
| Payable for distribution and shareholder service fees | | | 2,544 | | | | 7,044 | | | | 1,619 | | | | 51,724 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 518 | | | | 1,989 | | | | 596 | | | | 23,207 | |
| Payable for directors fees | | | 620 | | | | 707 | | | | 35 | | | | 3,077 | |
| Other accrued expenses and liabilities | | | 11,052 | | | | 17,316 | | | | 16,323 | | | | 67,377 | |
| Total liabilities | | | 66,999 | | | | 66,761 | | | | 25,165 | | | | 260,728 | |
| NET ASSETS | | $ | 37,716,335 | | | $ | 55,285,722 | | | $ | 9,416,263 | | | $ | 172,871,953 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 34,497,332 | | | $ | 55,374,206 | | | $ | 10,861,919 | | | $ | 186,230,251 | |
| Total distributable earnings (loss) | | | 3,219,003 | | | | (88,484 | ) | | | (1,445,656 | ) | | | (13,358,298 | ) |
| NET ASSETS | | $ | 37,716,335 | | | $ | 55,285,722 | | | $ | 9,416,263 | | | $ | 172,871,953 | |
| | | | | | | | | | | | | | | | | |
| * | Cost of investments in affiliated underlying funds | | $ | 33,329,599 | | | $ | 50,285,832 | | | $ | 8,526,285 | | | $ | 150,382,485 | |
** | Cost of investments in unaffiliated underlying funds | | $ | — | | | $ | 1,164,042 | | | $ | 675,161 | | | $ | 25,334,602 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Solution
Aggressive
Portfolio | | | Voya Solution
Balanced
Portfolio | | | Voya Solution
Conservative
Portfolio | | | Voya Solution
Income
Portfolio | |
| | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 3,727,876 | | | $ | 8,805,358 | | | $ | 2,039,502 | | | $ | 92,730,750 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 273,931 | | | | 993,777 | | | | 207,993 | | | | 9,125,396 | |
| Net asset value and redemption price per share | | $ | 13.61 | | | $ | 8.86 | | | $ | 9.81 | | | $ | 10.16 | |
| | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 1,590,415 | | | $ | 5,195,623 | | | $ | 596,392 | | | $ | 15,421,719 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 112,560 | | | | 553,498 | | | | 60,082 | | | | 1,468,294 | |
| Net asset value and redemption price per share | | $ | 14.13 | | | $ | 9.39 | | | $ | 9.93 | | | $ | 10.50 | |
| | | | | | | | | | | | | | | | | |
| Class R6 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 28,553,860 | | | $ | 24,958,305 | | | $ | 4,169,699 | | | | n/a | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | n/a | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | | n/a | |
| Shares outstanding | | | 2,018,364 | | | | 2,657,109 | | | | 420,402 | | | | n/a | |
| Net asset value and redemption price per share | | $ | 14.15 | | | $ | 9.39 | | | $ | 9.92 | | | | n/a | |
| | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 1,837,351 | | | $ | 15,054,763 | | | $ | 1,719,341 | | | $ | 61,881,967 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 132,060 | | | | 1,666,770 | | | | 174,398 | | | | 5,955,823 | |
| Net asset value and redemption price per share | | $ | 13.91 | | | $ | 9.03 | | | $ | 9.86 | | | $ | 10.39 | |
| | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 2,006,833 | | | $ | 1,271,673 | | | $ | 891,329 | | | $ | 2,837,517 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 148,790 | | | | 141,258 | | | | 91,747 | | | | 282,116 | |
| Net asset value and redemption price per share | | $ | 13.49 | | | $ | 9.00 | | | $ | 9.72 | | | $ | 10.06 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Solution
Moderately
Aggressive
Portfolio | | | Voya Solution
Moderately
Conservative
Portfolio | | | Voya Solution
2025 Portfolio | | | Voya Solution
2030 Portfolio | |
| ASSETS: | | | | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 465,603,170 | | | $ | 30,034,672 | | | $ | 372,079,007 | | | $ | 50,116,144 | |
| Investments in unaffiliated underlying funds at fair value** | | | 9,286,884 | | | | 1,559,906 | | | | 51,639,701 | | | | 5,524,184 | |
| Cash | | | 237,790 | | | | 15,839 | | | | 207,623 | | | | 28,515 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds sold | | | 194,185 | | | | – | | | | – | | | | – | |
| Fund shares sold | | | 60,564 | | | | 36,608 | | | | 162,907 | | | | 54,704 | |
| Interest | | | 210 | | | | 73 | | | | 570 | | | | 72 | |
| Prepaid expenses | | | 1,956 | | | | 143 | | | | 1,954 | | | | 212 | |
| Reimbursement due from Investment Adviser | | | – | | | | 29,974 | | | | – | | | | 2,053 | |
| Other assets | | | 35,447 | | | | 1,396 | | | | 38,492 | | | | 970 | |
| Total assets | | | 475,420,206 | | | | 31,678,611 | | | | 424,130,254 | | | | 55,726,854 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | – | | | | 36,611 | | | | 161,978 | | | | 54,664 | |
| Payable for fund shares redeemed | | | 254,671 | | | | – | | | | 366 | | | | – | |
| Payable for investment management fees | | | 80,201 | | | | 5,795 | | | | 81,186 | | | | 11,561 | |
| Payable for distribution and shareholder service fees | | | 93,939 | | | | 4,951 | | | | 116,258 | | | | 14,409 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 35,447 | | | | 1,396 | | | | 38,492 | | | | 970 | |
| Payable for directors fees | | | 902 | | | | 2,485 | | | | 1,755 | | | | 141 | |
| Other accrued expenses and liabilities | | | 62,134 | | | | 44,304 | | | | 82,891 | | | | 39,578 | |
| Total liabilities | | | 527,294 | | | | 95,542 | | | | 482,926 | | | | 121,323 | |
| NET ASSETS | | $ | 474,892,912 | | | $ | 31,583,069 | | | $ | 423,647,328 | | | $ | 55,605,531 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 439,228,440 | | | $ | 33,815,754 | | | $ | 437,895,781 | | | $ | 55,632,049 | |
| Total distributable earnings (loss) | | | 35,664,472 | | | | (2,232,685 | ) | | | (14,248,453 | ) | | | (26,518 | ) |
| NET ASSETS | | $ | 474,892,912 | | | $ | 31,583,069 | | | $ | 423,647,328 | | | $ | 55,605,531 | |
| | | | | | | | | | | | | | | | | |
| * | Cost of investments in affiliated underlying funds | | $ | 425,377,676 | | | $ | 29,884,123 | | | $ | 362,336,645 | | | $ | 46,595,688 | |
| ** | Cost of investments in unaffiliated underlying funds | | $ | 9,774,410 | | | $ | 1,633,482 | | | $ | 49,934,592 | | | $ | 5,119,680 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Solution
Moderately
Aggressive
Portfolio | | | Voya Solution
Moderately
Conservative
Portfolio | | | Voya Solution
2025 Portfolio | | | Voya Solution
2030 Portfolio | |
| | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 23,354,754 | | | $ | 3,464,618 | | | $ | 162,852,577 | | | $ | 23,338,756 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,986,706 | | | | 388,045 | | | | 17,221,226 | | | | 1,670,385 | |
| Net asset value and redemption price per share | | $ | 11.76 | | | $ | 8.93 | | | $ | 9.46 | | | $ | 13.97 | |
| | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 7,558,301 | | | $ | 349,625 | | | $ | 25,385,786 | | | $ | 8,651,491 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 622,118 | | | | 37,034 | | | | 2,566,464 | | | | 590,766 | |
| Net asset value and redemption price per share | | $ | 12.15 | | | $ | 9.44 | | | $ | 9.89 | | | $ | 14.64 | |
| | | | | | | | | | | | | | | | | |
| Class R6 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 32,402,304 | | | $ | 11,211,475 | | | | n/a | | | | n/a | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | n/a | | | | n/a | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | | n/a | | | | n/a | |
| Shares outstanding | | | 2,669,652 | | | | 1,188,361 | | | | n/a | | | | n/a | |
| Net asset value and redemption price per share | | $ | 12.14 | | | $ | 9.43 | | | | n/a | | | | n/a | |
| | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 410,113,120 | | | $ | 15,328,493 | | | $ | 228,127,065 | | | $ | 22,460,572 | |
| Shares authorized | | | 200,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 34,341,619 | | | | 1,676,631 | | | | 23,556,138 | | | | 1,552,754 | |
| Net asset value and redemption price per share | | $ | 11.94 | | | $ | 9.14 | | | $ | 9.68 | | | $ | 14.46 | |
| | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 1,464,433 | | | $ | 1,228,858 | | | $ | 7,281,900 | | | $ | 1,154,712 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 122,519 | | | | 136,473 | | | | 784,404 | | | | 81,201 | |
| Net asset value and redemption price per share | | $ | 11.95 | | | $ | 9.00 | | | $ | 9.28 | | | $ | 14.22 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Solution
2035 Portfolio | | | | Voya Solution
2040 Portfolio | | | | Voya Solution
2045 Portfolio | | | | Voya Solution
2050 Portfolio | |
| ASSETS: | | | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 546,406,007 | | | $ | 40,944,983 | | | $ | 424,433,753 | | | $ | 37,194,124 | |
| Investments in unaffiliated underlying funds at fair value** | | | 50,442,913 | | | | 4,260,352 | | | | 44,230,211 | | | | 3,864,836 | |
| Cash | | | 303,666 | | | | 26,113 | | | | 241,421 | | | | 22,697 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds sold | | | 47,401 | | | | 6,787 | | | | 132,032 | | | | – | |
| Fund shares sold | | | 97,574 | | | | 43,045 | | | | 275,074 | | | | 41,171 | |
| Interest | | | 665 | | | | 53 | | | | 567 | | | | 49 | |
| Prepaid expenses | | | 2,345 | | | | 169 | | | | 1,831 | | | | 155 | |
| Reimbursement due from Investment Adviser | | | 28,555 | | | | 6,660 | | | | 28,604 | | | | 2,623 | |
| Other assets | | | 36,699 | | | | 757 | | | | 26,055 | | | | 612 | |
| Total assets | | | 597,365,825 | | | | 45,288,919 | | | | 469,369,548 | | | | 41,126,267 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | – | | | | – | | | | – | | | | 14,908 | |
| Payable for fund shares redeemed | | | 144,770 | | | | 49,820 | | | | 407,041 | | | | 26,259 | |
| Payable for investment management fees | | | 126,298 | | | | 8,823 | | | | 93,594 | | | | 7,897 | |
| Payable for distribution and shareholder service fees | | | 150,963 | | | | 12,130 | | | | 116,896 | | | | 10,566 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 36,699 | | | | 757 | | | | 26,055 | | | | 612 | |
| Payable for directors fees | | | 1,706 | | | | 65 | | | | 1,169 | | | | 173 | |
| Other accrued expenses and liabilities | | | 169,739 | | | | 27,993 | | | | 116,688 | | | | 25,779 | |
| Total liabilities | | | 630,175 | | | | 99,588 | | | | 761,443 | | | | 86,194 | |
| NET ASSETS | | $ | 596,735,650 | | | $ | 45,189,331 | | | $ | 468,608,105 | | | $ | 41,040,073 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 569,139,994 | | | $ | 43,626,969 | | | $ | 438,116,975 | | | $ | 38,201,516 | |
| Total distributable earnings | | | 27,595,656 | | | | 1,562,362 | | | | 30,491,130 | | | | 2,838,557 | |
| NET ASSETS | | $ | 596,735,650 | | | $ | 45,189,331 | | | $ | 468,608,105 | | | $ | 41,040,073 | |
| | | | | | | | | | | | | | | | | |
| * | Cost of investments in affiliated underlying funds | | $ | 508,464,559 | | | $ | 36,561,354 | | | $ | 378,741,512 | | | $ | 32,488,873 | |
** | Cost of investments in unaffiliated underlying funds | | $ | 42,919,112 | | | $ | 3,760,295 | | | $ | 38,408,637 | | | $ | 3,440,633 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Solution
2035 Portfolio | | | Voya Solution
2040 Portfolio | | | Voya Solution
2045 Portfolio | | | Voya Solution
2050 Portfolio | |
| | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | |
| Net assets | | $ | 184,190,823 | | | $ | 18,356,920 | | | $ | 137,319,914 | | | $ | 16,105,289 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 18,434,915 | | | | 1,225,995 | | | | 13,851,894 | | | | 1,033,739 | |
| Net asset value and redemption price per share | | $ | 9.99 | | | $ | 14.97 | | | $ | 9.91 | | | $ | 15.58 | |
| | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 47,923,532 | | | $ | 5,153,495 | | | $ | 36,063,252 | | | $ | 5,813,793 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 4,576,034 | | | | 327,653 | | | | 3,436,459 | | | | 352,885 | |
| Net asset value and redemption price per share | | $ | 10.47 | | | $ | 15.73 | | | $ | 10.49 | | | $ | 16.48 | |
| | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 355,233,230 | | | $ | 19,584,306 | | | $ | 289,038,498 | | | $ | 17,795,251 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 34,658,763 | | | | 1,265,752 | | | | 28,419,272 | | | | 1,103,174 | |
| Net asset value and redemption price per share | | $ | 10.25 | | | $ | 15.47 | | | $ | 10.17 | | | $ | 16.13 | |
| | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 9,388,065 | | | $ | 2,094,610 | | | $ | 6,186,441 | | | $ | 1,325,740 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 976,616 | | | | 139,168 | | | | 635,845 | | | | 83,952 | |
| Net asset value and redemption price per share | | $ | 9.61 | | | $ | 15.05 | | | $ | 9.73 | | | $ | 15.79 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Solution
2055 Portfolio | | | Voya Solution
2060 Portfolio | | | Voya Solution
2065 Portfolio | |
| ASSETS: | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 159,073,427 | | | $ | 29,227,365 | | | $ | 16,726,403 | |
| Investments in unaffiliated underlying funds at fair value** | | | 16,590,167 | | | | 3,057,509 | | | | 1,836,783 | |
| Cash | | | 92,069 | | | | 18,072 | | | | 11,281 | |
| Receivables: | | | | | | | | | | | | |
| Investments in affiliated underlying funds sold | | | 298,463 | | | | 169,210 | | | | – | |
| Fund shares sold | | | 160,831 | | | | 28,340 | | | | 42,572 | |
| Interest | | | 194 | | | | 40 | | | | 23 | |
| Prepaid expenses | | | 659 | | | | 111 | | | | 42 | |
| Reimbursement due from Investment Adviser | | | 14,634 | | | | 4,036 | | | | 1,615 | |
| Other assets | | | 5,996 | | | | 369 | | | | 53 | |
| Total assets | | | 176,236,440 | | | | 32,505,052 | | | | 18,618,772 | |
| | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | – | | | | – | | | | 42,572 | |
| Payable for fund shares redeemed | | | 459,282 | | | | 197,549 | | | | – | |
| Payable for investment management fees | | | 33,727 | | | | 25,684 | | | | 14,043 | |
| Payable for distribution and shareholder service fees | | | 43,580 | | | | 7,996 | | | | 3,952 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 5,996 | | | | 369 | | | | 53 | |
| Payable for directors fees | | | 537 | | | | 46 | | | | 247 | |
| Other accrued expenses and liabilities | | | 43,353 | | | | 26,607 | | | | 16,322 | |
| Total liabilities | | | 586,475 | | | | 258,251 | | | | 77,189 | |
| NET ASSETS | | $ | 175,649,965 | | | $ | 32,246,801 | | | $ | 18,541,583 | |
| | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | |
| Paid-in capital | | $ | 161,236,245 | | | $ | 29,965,329 | | | $ | 16,876,793 | |
| Total distributable earnings | | | 14,413,720 | | | | 2,281,472 | | | | 1,664,790 | |
| NET ASSETS | | $ | 175,649,965 | | | $ | 32,246,801 | | | $ | 18,541,583 | |
| | | | | | | | | | | | | |
| * | Cost of investments in affiliated underlying funds | | $ | 139,030,413 | | | $ | 25,476,243 | | | $ | 14,785,268 | |
| ** | Cost of investments in unaffiliated underlying funds | | $ | 14,491,540 | | | $ | 2,786,566 | | | $ | 1,689,692 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Solution
2055 Portfolio | | | Voya Solution
2060 Portfolio | | | Voya Solution
2065 Portfolio | |
| | | | | | | | | | |
| Class ADV | | | | | | | | | |
| Net assets | | $ | 54,755,250 | | | $ | 11,849,167 | | | $ | 4,690,663 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 4,632,442 | | | | 1,020,786 | | | | 400,381 | |
| Net asset value and redemption price per share | | $ | 11.82 | | | $ | 11.61 | | | $ | 11.72 | |
| | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | |
| Net assets | | $ | 19,870,210 | | | $ | 5,694,681 | | | $ | 3,790,697 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,596,308 | | | | 475,464 | | | | 333,523 | |
| Net asset value and redemption price per share | | $ | 12.45 | | | $ | 11.98 | | | $ | 11.37 | |
| | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | |
| Net assets | | $ | 97,189,660 | | | $ | 13,625,813 | | | $ | 9,758,740 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 8,088,452 | | | | 1,165,978 | | | | 836,470 | |
| Net asset value and redemption price per share | | $ | 12.02 | | | $ | 11.69 | | | $ | 11.67 | |
| | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | |
| Net assets | | $ | 3,834,845 | | | $ | 1,077,140 | | | $ | 301,483 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 321,041 | | | | 92,557 | | | | 25,667 | |
| Net asset value and redemption price per share | | $ | 11.95 | | | $ | 11.64 | | | $ | 11.75 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the Six Months Ended June 30, 2024 (Unaudited)
| | | Voya Solution
Aggressive
Portfolio | | | Voya Solution
Balanced
Portfolio | | | Voya Solution
Conservative
Portfolio | | | Voya Solution
Income
Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 99,647 | | | $ | 326,799 | | | $ | 135,055 | | | $ | 1,709,174 | |
| Dividends from unaffiliated underlying funds | | | — | | | | 16,835 | | | | 9,098 | | | | 330,121 | |
| Interest | | | 440 | | | | 474 | | | | 204 | | | | 3,500 | |
| Other | | | 110 | | | | 161 | | | | 32 | | | | 559 | |
| Total investment income | | | 100,197 | | | | 344,269 | | | | 144,389 | | | | 2,043,354 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 35,789 | | | | 53,365 | | | | 10,635 | | | | 200,445 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 8,875 | | | | 21,958 | | | | 6,575 | | | | 232,695 | |
| Class S | | | 2,164 | | | | 18,033 | | | | 2,122 | | | | 77,822 | |
| Class S2 | | | 3,812 | | | | 2,346 | | | | 1,361 | | | | 5,756 | |
| Class T(1) | | | — | | | | — | | | | — | | | | 146 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 3,296 | | | | 2,859 | | | | 1,105 | | | | 25,380 | |
| Class I | | | 1,389 | | | | 1,598 | | | | 209 | | | | 4,367 | |
| Class R6 | | | 94 | | | | 69 | | | | 45 | | | | — | |
| Class S | | | 1,607 | | | | 4,696 | | | | 714 | | | | 16,978 | |
| Class S2 | | | 1,771 | | | | 382 | | | | 286 | | | | 785 | |
| Class T(1) | | | — | | | | — | | | | — | | | | 12 | |
| Shareholder reporting expense | | | 1,456 | | | | 1,444 | | | | 2,184 | | | | 970 | |
| Registration fees | | | 136 | | | | — | | | | — | | | | — | |
| Professional fees | | | 4,004 | | | | 5,278 | | | | 1,124 | | | | 15,762 | |
| Custody and accounting expense | | | 2,730 | | | | 3,264 | | | | 2,662 | | | | 2,895 | |
| Directors fees | | | 728 | | | | 728 | | | | 182 | | | | 2,772 | |
| Miscellaneous expense | | | 4,596 | | | | 5,426 | | | | 5,168 | | | | 7,887 | |
| Interest expense | | | 1,119 | | | | 1,337 | | | | — | | | | 2,758 | |
| Total expenses | | | 73,566 | | | | 122,783 | | | | 34,372 | | | | 597,430 | |
| Waived and reimbursed fees | | | (3,952 | ) | | | — | | | | (11,642 | ) | | | (49,146 | ) |
| Net expenses | | | 69,614 | | | | 122,783 | | | | 22,730 | | | | 548,284 | |
| Net investment income | | | 30,583 | | | | 221,486 | | | | 121,659 | | | | 1,495,070 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | 446,867 | | | | 2,553 | | | | 147,487 | | | | (720,444 | ) |
| Sale of unaffiliated underlying funds | | | 153,236 | | | | — | | | | (2,189 | ) | | | 103,862 | |
| Capital gain distributions from affiliated underlying funds | | | 79,012 | | | | 80,473 | | | | 11,223 | | | | 129,397 | |
| Net realized gain (loss) | | | 679,115 | | | | 83,026 | | | | 156,521 | | | | (487,185 | ) |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Affiliated underlying funds | | | 2,839,885 | | | | 3,231,932 | | | | (14,115 | ) | | | 4,335,630 | |
| Unaffiliated underlying funds | | | (141,892 | ) | | | (65,698 | ) | | | (13,170 | ) | | | (290,016 | ) |
| Net change in unrealized appreciation (depreciation) | | | 2,697,993 | | | | 3,166,234 | | | | (27,285 | ) | | | 4,045,614 | |
| Net realized and unrealized gain | | | 3,377,108 | | | | 3,249,260 | | | | 129,236 | | | | 3,558,429 | |
| Increase in net assets resulting from operations | | $ | 3,407,691 | | | $ | 3,470,746 | | | $ | 250,895 | | | $ | 5,053,499 | |
| (1) | Class T of Voya Solution Income Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the Six Months Ended June 30, 2024 (Unaudited)
| | | Voya Solution
Moderately
Aggressive
Portfolio | | | Voya Solution
Moderately
Conservative
Portfolio | | | Voya Solution
2025 Portfolio | | | Voya Solution
2030 Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 1,809,553 | | | $ | 326,503 | | | $ | 3,096,998 | | | $ | 299,070 | |
| Dividends from unaffiliated underlying funds | | | 154,557 | | | | 20,627 | | | | 677,865 | | | | 75,281 | |
| Interest | | | 9,841 | | | | 673 | | | | 10,887 | | | | 1,381 | |
| Other | | | 1,469 | | | | 98 | | | | 1,360 | | | | 166 | |
| Total investment income | | | 1,975,420 | | | | 347,901 | | | | 3,787,110 | | | | 375,898 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 482,503 | | | | 32,560 | | | | 477,704 | | | | 58,406 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 56,360 | | | | 8,615 | | | | 413,164 | | | | 57,474 | |
| Class S | | | 508,390 | | | | 18,725 | | | | 284,337 | | | | 26,299 | |
| Class S2 | | | 2,747 | | | | 2,527 | | | | 14,448 | | | | 2,062 | |
| Class T(1) | | | — | | | | — | | | | 599 | | | | 8 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 777 | | | | 1,559 | | | | 36,082 | | | | 5,758 | |
| Class I | | | 219 | | | | 141 | | | | 5,842 | | | | 2,067 | |
| Class R6 | | | 15 | | | | 13 | | | | — | | | | — | |
| Class S | | | 14,015 | | | | 6,758 | | | | 49,663 | | | | 5,271 | |
| Class S2 | | | 47 | | | | 573 | | | | 1,577 | | | | 258 | |
| Class T(1) | | | — | | | | — | | | | 37 | | | | 1 | |
| Shareholder reporting expense | | | 4,660 | | | | 1,436 | | | | 6,916 | | | | 255 | |
| Registration fees | | | 95 | | | | — | | | | — | | | | — | |
| Professional fees | | | 37,310 | | | | 10,376 | | | | 30,940 | | | | 6,006 | |
| Custody and accounting expense | | | 13,650 | | | | 3,006 | | | | 16,016 | | | | 6,006 | |
| Shareholder notification costs (Note 6) | | | — | | | | 54,200 | | | | — | | | | — | |
| Directors fees | | | 7,328 | | | | 718 | | | | 6,370 | | | | 546 | |
| Miscellaneous expense | | | 12,792 | | | | 4,181 | | | | 14,953 | | | | 5,229 | |
| Interest expense | | | 14,710 | | | | 614 | | | | 17,611 | | | | 2,885 | |
| Total expenses | | | 1,155,618 | | | | 146,002 | | | | 1,376,259 | | | | 178,531 | |
| Waived and reimbursed fees | | | — | | | | (72,182 | ) | | | (41,403 | ) | | | (22,692 | ) |
| Net expenses | | | 1,155,618 | | | | 73,820 | | | | 1,334,856 | | | | 155,839 | |
| Net investment income | | | 819,802 | | | | 274,081 | | | | 2,452,254 | | | | 220,059 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | (3,468,752 | ) | | | 300,178 | | | | (5,161,631 | ) | | | 574,267 | |
| Sale of unaffiliated underlying funds | | | 2,442,841 | | | | (32 | ) | | | 686,854 | | | | 14,616 | |
| Capital gain distributions from affiliated underlying funds | | | 869,700 | | | | 35,119 | | | | 312,619 | | | | 60,791 | |
| Net realized gain (loss) | | | (156,211 | ) | | | 335,265 | | | | (4,162,158 | ) | | | 649,674 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Affiliated underlying funds | | | 40,189,500 | | | | 634,992 | | | | 23,080,911 | | | | 2,242,618 | |
| Unaffiliated underlying funds | | | (2,869,241 | ) | | | (42,990 | ) | | | (865,978 | ) | | | (21,284 | ) |
| Net change in unrealized appreciation (depreciation) | | | 37,320,259 | | | | 592,002 | | | | 22,214,933 | | | | 2,221,334 | |
| Net realized and unrealized gain | | | 37,164,048 | | | | 927,267 | | | | 18,052,775 | | | | 2,871,008 | |
| Increase in net assets resulting from operations | | $ | 37,983,850 | | | $ | 1,201,348 | | | $ | 20,505,029 | | | $ | 3,091,067 | |
| (1) | Class T of Voya Solution 2025 Portfolio and Voya Solution 2030 Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the Six Months Ended June 30, 2024 (Unaudited)
| | | Voya Solution
2035 Portfolio | | | Voya Solution
2040 Portfolio | | | Voya Solution
2045 Portfolio | | | Voya Solution
2050 Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 2,451,652 | | | $ | 100,193 | | | $ | 685,864 | | | $ | 26,613 | |
| Dividends from unaffiliated underlying funds | | | 738,302 | | | | 55,916 | | | | 615,945 | | | | 51,736 | |
| Interest | | | 12,698 | | | | 693 | | | | 10,231 | | | | 933 | |
| Other | | | 1,812 | | | | 125 | | | | 1,411 | | | | 114 | |
| Total investment income | | | 3,204,464 | | | | 156,927 | | | | 1,313,451 | | | | 79,396 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 625,790 | | | | 44,135 | | | | 487,564 | | | | 40,560 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 447,311 | | | | 41,860 | | | | 332,040 | | | | 38,232 | |
| Class S | | | 431,223 | | | | 22,072 | | | | 344,900 | | | | 19,827 | |
| Class S2 | | | 20,108 | | | | 3,605 | | | | 12,574 | | | | 2,188 | |
| Class T(1) | | | — | | | | 8 | | | | 143 | | | | 9 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 51,953 | | | | 8,709 | | | | 49,845 | | | | 11,967 | |
| Class I | | | 13,695 | | | | 2,358 | | | | 13,815 | | | | 4,149 | |
| Class S | | | 100,184 | | | | 9,184 | | | | 103,551 | | | | 12,411 | |
| Class S2 | | | 2,919 | | | | 938 | | | | 2,359 | | | | 856 | |
| Class T(1) | | | — | | | | 1 | | | | 15 | | | | — | |
| Shareholder reporting expense | | | 6,552 | | | | 364 | | | | 7,280 | | | | 364 | |
| Professional fees | | | 35,490 | | | | 4,095 | | | | 28,756 | | | | 547 | |
| Custody and accounting expense | | | 20,020 | | | | 5,460 | | | | 17,654 | | | | 3,056 | |
| Directors fees | | | 5,460 | | | | 546 | | | | 5,460 | | | | 364 | |
| Miscellaneous expense | | | 15,144 | | | | 5,610 | | | | 9,541 | | | | 5,900 | |
| Interest expense | | | 35,288 | | | | 3,031 | | | | 34,814 | | | | 2,870 | |
| Total expenses | | | 1,811,137 | | | | 151,976 | | | | 1,450,311 | | | | 143,300 | |
| Waived and reimbursed fees | | | (202,728 | ) | | | (38,086 | ) | | | (223,186 | ) | | | (36,679 | ) |
| Net expenses | | | 1,608,409 | | | | 113,890 | | | | 1,227,125 | | | | 106,621 | |
| Net investment income (loss) | | | 1,596,055 | | | | 43,037 | | | | 86,326 | | | | (27,225 | ) |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | (6,259,348 | ) | | | 928,269 | | | | (7,776,389 | ) | | | 954,804 | |
| Sale of unaffiliated underlying funds | | | 127,669 | | | | 31,036 | | | | 165,788 | | | | 20,622 | |
| Capital gain distributions from affiliated underlying funds | | | 651,508 | | | | 63,395 | | | | 673,817 | | | | 57,570 | |
| Net realized gain (loss) | | | (5,480,171 | ) | | | 1,022,700 | | | | (6,936,784 | ) | | | 1,032,996 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Affiliated underlying funds | | | 44,190,509 | | | | 2,184,366 | | | | 46,515,694 | | | | 2,391,419 | |
| Unaffiliated underlying funds | | | (21,345 | ) | | | (14,732 | ) | | | (215,051 | ) | | | (11,457 | ) |
| Net change in unrealized appreciation (depreciation) | | | 44,169,164 | | | | 2,169,634 | | | | 46,300,643 | | | | 2,379,962 | |
| Net realized and unrealized gain | | | 38,688,993 | | | | 3,192,334 | | | | 39,363,859 | | | | 3,412,958 | |
| Increase in net assets resulting from operations | | $ | 40,285,048 | | | $ | 3,235,371 | | | $ | 39,450,185 | | | $ | 3,385,733 | |
| (1) | Class T of Voya Solution 2040 Portfolio, Voya Solution 2045 Portfolio, and Voya Solution 2050 Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the Six Months Ended June 30, 2024 (Unaudited)
| | | Voya Solution
2055 Portfolio | | | Voya Solution
2060 Portfolio | | | Voya Solution
2065 Portfolio | |
| INVESTMENT INCOME: | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 78,385 | | | $ | 12,235 | | | $ | 2,883 | |
| Dividends from unaffiliated underlying funds | | | 227,946 | | | | 39,769 | | | | 23,001 | |
| Interest | | | 3,759 | | | | 715 | | | | 121 | |
| Other | | | 517 | | | | 91 | | | | 47 | |
| Total investment income | | | 310,607 | | | | 52,810 | | | | 26,052 | |
| EXPENSES: | | | | | | | | | | | | |
| Investment management fees | | | 180,837 | | | | 31,883 | | | | 17,394 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | |
| Class ADV | | | 132,484 | | | | 28,440 | | | | 10,572 | |
| Class S | | | 115,294 | | | | 15,084 | | | | 10,172 | |
| Class S2 | | | 7,257 | | | | 1,958 | | | | 523 | |
| Class T(1) | | | — | | | | 12 | | | | 8 | |
| Transfer agent fees: | | | | | | | | | | | | |
| Class ADV | | | 29,310 | | | | 12,676 | | | | 3,635 | |
| Class I | | | 10,444 | | | | 5,813 | | | | 2,921 | |
| Class S | | | 51,015 | | | | 13,466 | | | | 7,010 | |
| Class S2 | | | 2,007 | | | | 1,092 | | | | 225 | |
| Class T(1) | | | — | | | | 4 | | | | 2 | |
| Shareholder reporting expense | | | 1,800 | | | | 1,795 | | | | 728 | |
| Registration fees | | | — | | | | — | | | | 149 | |
| Professional fees | | | 14,586 | | | | 612 | | | | 282 | |
| Custody and accounting expense | | | 6,370 | | | | 2,096 | | | | 2,480 | |
| Directors fees | | | 2,002 | | | | 304 | | | | 182 | |
| Miscellaneous expense | | | 4,538 | | | | 4,982 | | | | 5,010 | |
| Interest expense | | | 13,058 | | | | 2,408 | | | | — | |
| Total expenses | | | 571,002 | | | | 122,625 | | | | 61,293 | |
| Waived and reimbursed fees | | | (91,233 | ) | | | (38,827 | ) | | | (19,554 | ) |
| Net expenses | | | 479,769 | | | | 83,798 | | | | 41,739 | |
| Net investment loss | | | (169,162 | ) | | | (30,988 | ) | | | (15,687 | ) |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | (21,800 | ) | | | 645,874 | | | | 305,737 | |
| Sale of unaffiliated underlying funds | | | 37,024 | | | | — | | | | — | |
| Capital gain distributions from affiliated underlying funds | | | 251,866 | | | | 45,683 | | | | 25,279 | |
| Net realized gain | | | 267,090 | | | | 691,557 | | | | 331,016 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | |
| Affiliated underlying funds | | | 15,218,110 | | | | 2,018,739 | | | | 1,147,200 | |
| Unaffiliated underlying funds | | | (52,345 | ) | | | (1,771 | ) | | | 10,826 | |
| Net change in unrealized appreciation (depreciation) | | | 15,165,765 | | | | 2,016,968 | | | | 1,158,026 | |
| Net realized and unrealized gain | | | 15,432,855 | | | | 2,708,525 | | | | 1,489,042 | |
| Increase in net assets resulting from operations | | $ | 15,263,693 | | | $ | 2,677,537 | | | $ | 1,473,355 | |
| (1) | Class T of Voya Solution 2060 Portfolio and Voya Solution 2065 Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution
Aggressive Portfolio | | | Voya Solution
Balanced Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 30,583 | | | $ | 404,413 | | | $ | 221,486 | | | $ | 873,825 | |
| Net realized gain (loss) | | | 679,115 | | | | (714,476 | ) | | | 83,026 | | | | (2,741,201 | ) |
| Net change in unrealized appreciation (depreciation) | | | 2,697,993 | | | | 6,278,172 | | | | 3,166,234 | | | | 9,203,959 | |
| Increase in net assets resulting from operations | | | 3,407,691 | | | | 5,968,109 | | | | 3,470,746 | | | | 7,336,583 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (200,039 | ) | | | — | | | | (852,489 | ) |
| Class I | | | — | | | | (86,455 | ) | | | — | | | | (404,261 | ) |
| Class R6 | | | — | | | | (1,585,031 | ) | | | — | | | | (2,079,000 | ) |
| Class S | | | — | | | | (111,986 | ) | | | — | | | | (1,486,807 | ) |
| Class S2 | | | — | | | | (113,552 | ) | | | — | | | | (104,960 | ) |
| Total distributions | | | — | | | | (2,097,063 | ) | | | — | | | | (4,927,517 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 4,020,633 | | | | 6,947,717 | | | | 5,890,225 | | | | 6,261,928 | |
| Reinvestment of distributions | | | — | | | | 2,097,063 | | | | — | | | | 4,927,517 | |
| | | | 4,020,633 | | | | 9,044,780 | | | | 5,890,225 | | | | 11,189,445 | |
| Cost of shares redeemed | | | (4,382,244 | ) | | | (6,848,273 | ) | | | (4,352,443 | ) | | | (12,120,562 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (361,611 | ) | | | 2,196,507 | | | | 1,537,782 | | | | (931,117 | ) |
| Net increase in net assets | | | 3,046,080 | | | | 6,067,553 | | | | 5,008,528 | | | | 1,477,949 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 34,670,255 | | | | 28,602,702 | | | | 50,277,194 | | | | 48,799,245 | |
| End of year or period | | $ | 37,716,335 | | | $ | 34,670,255 | | | $ | 55,285,722 | | | $ | 50,277,194 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution
Conservative Portfolio | | | Voya Solution
Income Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 121,659 | | | $ | 395,194 | | | $ | 1,495,070 | | | $ | 4,531,531 | |
| Net realized gain (loss) | | | 156,521 | | | | (1,568,341 | ) | | | (487,185 | ) | | | (10,722,440 | ) |
| Net change in unrealized appreciation (depreciation) | | | (27,285 | ) | | | 2,320,105 | | | | 4,045,614 | | | | 25,465,999 | |
| Increase in net assets resulting from operations | | | 250,895 | | | | 1,146,958 | | | | 5,053,499 | | | | 19,275,090 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (118,557 | ) | | | — | | | | (3,685,467 | ) |
| Class I | | | — | | | | (19,487 | ) | | | — | | | | (945,654 | ) |
| Class R6 | | | — | | | | (399,928 | ) | | | — | | | | — | |
| Class S | | | — | | | | (80,147 | ) | | | — | | | | (2,633,189 | ) |
| Class S2 | | | — | | | | (26,086 | ) | | | — | | | | (124,036 | ) |
| Class T(1) | | | — | | | | — | | | | — | | | | (2,020 | ) |
| Total distributions | | | — | | | | (644,205 | ) | | | — | | | | (7,390,366 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 1,169,882 | | | | 4,357,942 | | | | 3,646,970 | | | | 7,967,661 | |
| Reinvestment of distributions | | | — | | | | 644,205 | | | | — | | | | 7,390,274 | |
| | | | 1,169,882 | | | | 5,002,147 | | | | 3,646,970 | | | | 15,357,935 | |
| Cost of shares redeemed | | | (2,156,955 | ) | | | (11,185,956 | ) | | | (19,186,889 | ) | | | (50,350,763 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (987,073 | ) | | | (6,183,809 | ) | | | (15,539,919 | ) | | | (34,992,828 | ) |
| Net decrease in net assets | | | (736,178 | ) | | | (5,681,056 | ) | | | (10,486,420 | ) | | | (23,108,104 | ) |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 10,152,441 | | | | 15,833,497 | | | | 183,358,373 | | | | 206,466,477 | |
| End of year or period | | $ | 9,416,263 | | | $ | 10,152,441 | | | $ | 172,871,953 | | | $ | 183,358,373 | |
| (1) | Class T of Voya Solution Income Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution Moderately
Aggressive Portfolio | | | Voya Solution Moderately
Conservative Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 819,802 | | | $ | 6,236,445 | | | $ | 274,081 | | | $ | 752,191 | |
| Net realized gain (loss) | | | (156,211 | ) | | | (1,211,661 | ) | | | 335,265 | | | | (2,231,349 | ) |
| Net change in unrealized appreciation (depreciation) | | | 37,320,259 | | | | 72,915,250 | | | | 592,002 | | | | 5,048,713 | |
| Increase in net assets resulting from operations | | | 37,983,850 | | | | 77,940,034 | | | | 1,201,348 | | | | 3,569,555 | |
| | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (1,778,994 | ) | | | — | | | | (223,370 | ) |
| Class I | | | — | | | | (448,994 | ) | | | — | | | | (11,003 | ) |
| Class R6 | | | — | | | | (2,586,052 | ) | | | — | | | | (679,142 | ) |
| Class S | | | — | | | | (36,169,779 | ) | | | — | | | | (927,362 | ) |
| Class S2 | | | — | | | | (104,004 | ) | | | — | | | | (74,909 | ) |
| Total distributions | | | — | | | | (41,087,823 | ) | | | — | | | | (1,915,786 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 6,203,474 | | | | 12,440,582 | | | | 1,694,245 | | | | 4,006,322 | |
| Reinvestment of distributions | | | — | | | | 41,087,823 | | | | — | | | | 1,915,786 | |
| | | | 6,203,474 | | | | 53,528,405 | | | | 1,694,245 | | | | 5,922,108 | |
| Cost of shares redeemed | | | (37,977,897 | ) | | | (70,271,165 | ) | | | (2,426,966 | ) | | | (11,353,780 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (31,774,423 | ) | | | (16,742,760 | ) | | | (732,721 | ) | | | (5,431,672 | ) |
| Net increase (decrease) in net assets | | | 6,209,427 | | | | 20,109,451 | | | | 468,627 | | | | (3,777,903 | ) |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 468,683,485 | | | | 448,574,034 | | | | 31,114,442 | | | | 34,892,345 | |
| End of year or period | | $ | 474,892,912 | | | $ | 468,683,485 | | | $ | 31,583,069 | | | $ | 31,114,442 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution 2025 Portfolio | | | Voya Solution 2030 Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 2,452,254 | | | $ | 8,985,956 | | | $ | 220,059 | | | $ | 946,873 | |
| Net realized gain (loss) | | | (4,162,158 | ) | | | (20,483,120 | ) | | | 649,674 | | | | (3,882,155 | ) |
| Net change in unrealized appreciation (depreciation) | | | 22,214,933 | | | | 68,831,803 | | | | 2,221,334 | | | | 10,028,133 | |
| Increase in net assets resulting from operations | | | 20,505,029 | | | | 57,334,639 | | | | 3,091,067 | | | | 7,092,851 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (7,140,676 | ) | | | — | | | | (929,774 | ) |
| Class I | | | — | | | | (1,617,979 | ) | | | — | | | | (363,281 | ) |
| Class S | | | — | | | | (10,161,877 | ) | | | — | | | | (748,014 | ) |
| Class S2 | | | — | | | | (312,719 | ) | | | — | | | | (30,615 | ) |
| Class T(1) | | | — | | | | (10,507 | ) | | | — | | | | (65 | ) |
| Total distributions | | | — | | | | (19,243,758 | ) | | | — | | | | (2,071,749 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 11,419,131 | | | | 20,851,089 | | | | 7,878,525 | | | | 15,139,113 | |
| Reinvestment of distributions | | | — | | | | 19,243,758 | | | | — | | | | 2,071,686 | |
| | | | 11,419,131 | | | | 40,094,847 | | | | 7,878,525 | | | | 17,210,799 | |
| Cost of shares redeemed | | | (51,963,425 | ) | | | (95,145,979 | ) | | | (8,868,134 | ) | | | (17,104,352 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (40,544,294 | ) | | | (55,051,132 | ) | | | (989,609 | ) | | | 106,447 | |
| Net increase (decrease) in net assets | | | (20,039,265 | ) | | | (16,960,251 | ) | | | 2,101,458 | | | | 5,127,549 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 443,686,593 | | | | 460,646,844 | | | | 53,504,073 | | | | 48,376,524 | |
| End of year or period | | $ | 423,647,328 | | | $ | 443,686,593 | | | $ | 55,605,531 | | | $ | 53,504,073 | |
| (1) | Class T was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution 2035 Portfolio | | | Voya Solution 2040 Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 1,596,055 | | | $ | 9,412,859 | | | $ | 43,037 | | | $ | 585,225 | |
| Net realized gain (loss) | | | (5,480,171 | ) | | | (12,577,897 | ) | | | 1,022,700 | | | | (3,356,425 | ) |
| Net change in unrealized appreciation (depreciation) | | | 44,169,164 | | | | 92,835,957 | | | | 2,169,634 | | | | 9,597,654 | |
| Increase in net assets resulting from operations | | | 40,285,048 | | | | 89,670,919 | | | | 3,235,371 | | | | 6,826,454 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (10,972,912 | ) | | | — | | | | (856,659 | ) |
| Class I | | | — | | | | (3,390,034 | ) | | | — | | | | (417,256 | ) |
| Class S | | | — | | | | (20,874,983 | ) | | | — | | | | (884,407 | ) |
| Class S2 | | | — | | | | (696,924 | ) | | | — | | | | (106,398 | ) |
| Class T(1) | | | — | | | | — | | | | — | | | | (208 | ) |
| Total distributions | | | — | | | | (35,934,853 | ) | | | — | | | | (2,264,928 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 23,513,010 | | | | 35,122,770 | | | | 7,112,377 | | | | 10,729,986 | |
| Reinvestment of distributions | | | — | | | | 35,934,853 | | | | — | | | | 2,264,720 | |
| | | | 23,513,010 | | | | 71,057,623 | | | | 7,112,377 | | | | 12,994,706 | |
| Cost of shares redeemed | | | (47,896,635 | ) | | | (80,143,079 | ) | | | (4,898,446 | ) | | | (17,203,428 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (24,383,625 | ) | | | (9,085,456 | ) | | | 2,213,931 | | | | (4,208,722 | ) |
| Net increase in net assets | | | 15,901,423 | | | | 44,650,610 | | | | 5,449,302 | | | | 352,804 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 580,834,227 | | | | 536,183,617 | | | | 39,740,029 | | | | 39,387,225 | |
| End of year or period | | $ | 596,735,650 | | | $ | 580,834,227 | | | $ | 45,189,331 | | | $ | 39,740,029 | |
| (1) | Class T of Voya Solution 2040 Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution 2045 Portfolio | | | Voya Solution 2050 Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 86,326 | | | $ | 6,156,536 | | | $ | (27,225 | ) | | $ | 450,245 | |
| Net realized gain (loss) | | | (6,936,784 | ) | | | (12,622,590 | ) | | | 1,032,996 | | | | (2,208,096 | ) |
| Net change in unrealized appreciation (depreciation) | | | 46,300,643 | | | | 85,778,245 | | | | 2,379,962 | | | | 8,054,648 | |
| Increase in net assets resulting from operations | | | 39,450,185 | | | | 79,312,191 | | | | 3,385,733 | | | | 6,296,797 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (10,024,810 | ) | | | — | | | | (811,733 | ) |
| Class I | | | — | | | | (3,419,709 | ) | | | — | | | | (348,867 | ) |
| Class S | | | — | | | | (20,873,431 | ) | | | — | | | | (720,411 | ) |
| Class S2 | | | — | | | | (522,908 | ) | | | — | | | | (48,640 | ) |
| Class T(1) | | | — | | | | (4,302 | ) | | | — | | | | (218 | ) |
| Total distributions | | | — | | | | (34,845,160 | ) | | | — | | | | (1,929,869 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 17,228,440 | | | | 27,531,525 | | | | 5,992,047 | | | | 10,190,626 | |
| Reinvestment of distributions | | | — | | | | 34,845,160 | | | | — | | | | 1,929,651 | |
| | | | 17,228,440 | | | | 62,376,685 | | | | 5,992,047 | | | | 12,120,277 | |
| Cost of shares redeemed | | | (42,741,554 | ) | | | (71,668,094 | ) | | | (4,227,448 | ) | | | (13,835,492 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (25,513,114 | ) | | | (9,291,409 | ) | | | 1,764,599 | | | | (1,715,215 | ) |
| Net increase in net assets | | | 13,937,071 | | | | 35,175,622 | | | | 5,150,332 | | | | 2,651,713 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 454,671,034 | | | | 419,495,412 | | | | 35,889,741 | | | | 33,238,028 | |
| End of year or period | | $ | 468,608,105 | | | $ | 454,671,034 | | | $ | 41,040,073 | | | $ | 35,889,741 | |
| (1) | Class T was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution 2055 Portfolio | | | Voya Solution 2060 Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (169,162 | ) | | $ | 1,945,766 | | | $ | (30,988 | ) | | $ | 359,205 | |
| Net realized gain (loss) | | | 267,090 | | | | (6,284,554 | ) | | | 691,557 | | | | (1,417,649 | ) |
| Net change in unrealized appreciation (depreciation) | | | 15,165,765 | | | | 33,184,341 | | | | 2,016,968 | | | | 6,002,081 | |
| Increase in net assets resulting from operations | | | 15,263,693 | | | | 28,845,553 | | | | 2,677,537 | | | | 4,943,637 | |
| | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (2,477,627 | ) | | | — | | | | (498,798 | ) |
| Class I | | | — | | | | (1,058,375 | ) | | | — | | | | (280,300 | ) |
| Class S | | | — | | | | (4,229,438 | ) | | | — | | | | (487,642 | ) |
| Class S2 | | | — | | | | (160,283 | ) | | | — | | | | (39,846 | ) |
| Class T(1) | | | — | | | | — | | | | — | | | | (239 | ) |
| Total distributions | | | — | | | | (7,925,723 | ) | | | — | | | | (1,306,825 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 11,809,574 | | | | 19,778,395 | | | | 5,088,467 | | | | 8,232,138 | |
| Reinvestment of distributions | | | — | | | | 7,925,723 | | | | — | | | | 1,306,825 | |
| | | | 11,809,574 | | | | 27,704,118 | | | | 5,088,467 | | | | 9,538,963 | |
| Cost of shares redeemed | | | (14,184,120 | ) | | | (35,722,772 | ) | | | (4,020,793 | ) | | | (10,113,290 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (2,374,546 | ) | | | (8,018,654 | ) | | | 1,067,674 | | | | (574,327 | ) |
| Net increase in net assets | | | 12,889,147 | | | | 12,901,176 | | | | 3,745,211 | | | | 3,062,485 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 162,760,818 | | | | 149,859,642 | | | | 28,501,590 | | | | 25,439,105 | |
| End of year or period | | $ | 175,649,965 | | | $ | 162,760,818 | | | $ | 32,246,801 | | | $ | 28,501,590 | |
| (1) | Class T of Voya Solution 2060 Portfolio was fully redeemed on close of business May 1, 2024. |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Solution 2065 Portfolio | |
| | | Six Months
Ended
June 30, 2024
(Unaudited) | | | Year Ended
December 31,
2023 | |
| FROM OPERATIONS: | | | | | | | | |
| Net investment income (loss) | | $ | (15,687 | ) | | $ | 183,044 | |
| Net realized gain (loss) | | | 331,016 | | | | (117,388 | ) |
| Net change in unrealized appreciation (depreciation) | | | 1,158,026 | | | | 1,950,857 | |
| Increase in net assets resulting from operations | | | 1,473,355 | | | | 2,016,513 | |
| | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | |
| Class ADV | | | — | | | | (1,985 | ) |
| Class I | | | — | | | | (133,338 | ) |
| Class S | | | — | | | | (68,650 | ) |
| Class S2 | | | — | | | | (126 | ) |
| Total distributions | | | — | | | | (204,099 | ) |
| | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | |
| Net proceeds from sale of shares | | | 4,192,651 | | | | 5,736,253 | |
| Reinvestment of distributions | | | — | | | | 204,099 | |
| | | | 4,192,651 | | | | 5,940,352 | |
| Cost of shares redeemed | | | (1,176,624 | ) | | | (1,861,155 | ) |
| Net increase in net assets resulting from capital share transactions | | | 3,016,027 | | | | 4,079,197 | |
| Net increase in net assets | | | 4,489,382 | | | | 5,891,611 | |
| | | | | | | | | |
| NET ASSETS: | | | | | | | | |
| Beginning of year or period | | | 14,052,201 | | | | 8,160,590 | |
| End of year or period | | $ | 18,541,583 | | | $ | 14,052,201 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution Aggressive Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.39 | | | (0.02 | )• | | 1.24 | | | | 1.22 | | | — | | | — | | | — | | | — | | | — | | | 13.61 | | | 9.85 | | | | 0.97 | | | 0.88 | | | 0.88 | | | (0.31 | ) | | 3,728 | | | 27 | |
| 12-31-23 | | | 10.95 | | | 0.10 | • | | 2.12 | | | | 2.22 | | | 0.25 | | | 0.53 | | | — | | | 0.78 | | | — | | | 12.39 | | | 20.63 | | | | 1.00 | | | 0.87 | | | 0.87 | | | 0.85 | | | 3,455 | | | 41 | |
| 12-31-22 | | | 16.45 | | | 0.07 | • | | (3.23 | ) | | | (3.16 | ) | | 0.32 | | | 2.02 | | | — | | | 2.34 | | | — | | | 10.95 | | | (20.13 | ) | | | 0.94 | | | 0.86 | | | 0.86 | | | 0.56 | | | 3,524 | | | 93 | |
| 12-31-21 | | | 13.91 | | | 0.06 | • | | 2.62 | | | | 2.68 | | | 0.14 | | | — | | | — | | | 0.14 | | | — | | | 16.45 | | | 19.31 | | | | 0.93 | | | 0.81 | | | 0.81 | | | 0.37 | | | 4,406 | | | 58 | |
| 12-31-20 | | | 13.08 | | | 0.10 | | | 1.76 | | | | 1.86 | | | 0.15 | | | 0.88 | | | — | | | 1.03 | | | — | | | 13.91 | | | 15.53 | | | | 1.00 | | | 0.81 | | | 0.81 | | | 0.64 | | | 3,744 | | | 85 | |
| 12-31-19 | | | 11.47 | | | 0.11 | | | 2.65 | | | | 2.76 | | | 0.16 | | | 0.99 | | | — | | | 1.15 | | | — | | | 13.08 | | | 24.94 | | | | 0.92 | | | 0.75 | | | 0.75 | | | 0.96 | | | 3,760 | | | 85 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.83 | | | 0.01 | • | | 1.29 | | | | 1.30 | | | — | | | — | | | — | | | — | | | — | | | 14.13 | | | 10.13 | | | | 0.47 | | | 0.38 | | | 0.38 | | | 0.19 | | | 1,590 | | | 27 | |
| 12-31-23 | | | 11.33 | | | 0.16 | • | | 2.19 | | | | 2.35 | | | 0.32 | | | 0.53 | | | — | | | 0.85 | | | — | | | 12.83 | | | 21.21 | | | | 0.50 | | | 0.37 | | | 0.37 | | | 1.35 | | | 1,379 | | | 41 | |
| 12-31-22 | | | 16.92 | | | 0.17 | • | | (3.35 | ) | | | (3.18 | ) | | 0.39 | | | 2.02 | | | — | | | 2.41 | | | — | | | 11.33 | | | (19.67 | ) | | | 0.44 | | | 0.36 | | | 0.36 | | | 1.34 | | | 966 | | | 93 | |
| 12-31-21 | | | 14.29 | | | 0.13 | • | | 2.70 | | | | 2.83 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 16.92 | | | 19.87 | | | | 0.43 | | | 0.31 | | | 0.31 | | | 0.82 | | | 488 | | | 58 | |
| 12-31-20 | | | 13.42 | | | 0.12 | • | | 1.85 | | | | 1.97 | | | 0.22 | | | 0.88 | | | — | | | 1.10 | | | — | | | 14.29 | | | 16.09 | | | | 0.50 | | | 0.31 | | | 0.31 | | | 0.94 | | | 294 | | | 85 | |
| 12-31-19 | | | 11.74 | | | 0.22 | • | | 2.67 | | | | 2.89 | | | 0.22 | | | 0.99 | | | — | | | 1.21 | | | — | | | 13.42 | | | 25.54 | | | | 0.42 | | | 0.25 | | | 0.25 | | | 1.73 | | | 600 | | | 85 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.84 | | | 0.02 | • | | 1.29 | | | | 1.31 | | | — | | | — | | | — | | | — | | | — | | | 14.15 | | | 10.20 | | | | 0.28 | | | 0.28 | | | 0.28 | | | 0.28 | | | 28,554 | | | 27 | |
| 12-31-23 | | | 11.33 | | | 0.17 | • | | 2.20 | | | | 2.37 | | | 0.33 | | | 0.53 | | | — | | | 0.86 | | | — | | | 12.84 | | | 21.32 | | | | 0.30 | | | 0.30 | | | 0.30 | | | 1.42 | | | 26,323 | | | 41 | |
| 12-31-22 | | | 16.92 | | | 0.15 | • | | (3.33 | ) | | | (3.18 | ) | | 0.39 | | | 2.02 | | | — | | | 2.41 | | | — | | | 11.33 | | | (19.67 | ) | | | 0.32 | | | 0.32 | | | 0.32 | | | 1.14 | | | 20,169 | | | 93 | |
| 12-31-21 | | | 14.29 | | | 0.15 | • | | 2.68 | | | | 2.83 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 16.92 | | | 19.86 | | | | 0.33 | | | 0.31 | | | 0.31 | | | 0.94 | | | 21,062 | | | 58 | |
| 12-31-20 | | | 13.41 | | | 0.16 | • | | 1.82 | | | | 1.98 | | | 0.22 | | | 0.88 | | | — | | | 1.10 | | | — | | | 14.29 | | | 16.19 | | | | 0.38 | | | 0.31 | | | 0.31 | | | 1.23 | | | 16,188 | | | 85 | |
| 12-31-19 | | | 11.74 | | | 0.20 | • | | 2.68 | | | | 2.88 | | | 0.22 | | | 0.99 | | | — | | | 1.21 | | | — | | | 13.41 | | | 25.45 | | | | 0.42 | | | 0.25 | | | 0.25 | | | 1.57 | | | 11,636 | | | 85 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.65 | | | (0.00 | )*• | | 1.26 | | | | 1.26 | | | — | | | — | | | — | | | — | | | — | | | 13.91 | | | 9.96 | | | | 0.72 | | | 0.63 | | | 0.63 | | | (0.06 | ) | | 1,837 | | | 27 | |
| 12-31-23 | | | 11.15 | | | 0.13 | • | | 2.16 | | | | 2.29 | | | 0.26 | | | 0.53 | | | — | | | 0.79 | | | — | | | 12.65 | | | 20.90 | | | | 0.75 | | | 0.62 | | | 0.62 | | | 1.10 | | | 1,658 | | | 41 | |
| 12-31-22 | | | 16.69 | | | 0.08 | • | | (3.25 | ) | | | (3.17 | ) | | 0.35 | | | 2.02 | | | — | | | 2.37 | | | — | | | 11.15 | | | (19.89 | ) | | | 0.69 | | | 0.61 | | | 0.61 | | | 0.57 | | | 2,590 | | | 93 | |
| 12-31-21 | | | 14.10 | | | 0.10 | • | | 2.66 | | | | 2.76 | | | 0.17 | | | — | | | — | | | 0.17 | | | — | | | 16.69 | | | 19.62 | | | | 0.68 | | | 0.56 | | | 0.56 | | | 0.64 | | | 4,426 | | | 58 | |
| 12-31-20 | | | 13.25 | | | 0.10 | • | | 1.82 | | | | 1.92 | | | 0.19 | | | 0.88 | | | — | | | 1.07 | | | — | | | 14.10 | | | 15.83 | | | | 0.75 | | | 0.56 | | | 0.56 | | | 0.80 | | | 3,666 | | | 85 | |
| 12-31-19 | | | 11.60 | | | 0.15 | | | 2.67 | | | | 2.82 | | | 0.18 | | | 0.99 | | | — | | | 1.17 | | | — | | | 13.25 | | | 25.21 | | | | 0.67 | | | 0.50 | | | 0.50 | | | 1.27 | | | 3,925 | | | 85 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.27 | | | (0.01 | )• | | 1.23 | | | | 1.22 | | | — | | | — | | | — | | | — | | | — | | | 13.49 | | | 9.94 | | | | 0.87 | | | 0.78 | | | 0.78 | | | (0.21 | ) | | 2,007 | | | 27 | |
| 12-31-23 | | | 10.88 | | | 0.11 | • | | 2.09 | | | | 2.20 | | | 0.28 | | | 0.53 | | | — | | | 0.81 | | | — | | | 12.27 | | | 20.64 | | | | 0.90 | | | 0.77 | | | 0.77 | | | 0.95 | | | 1,855 | | | 41 | |
| 12-31-22 | | | 16.36 | | | 0.08 | • | | (3.20 | ) | | | (3.12 | ) | | 0.34 | | | 2.02 | | | — | | | 2.36 | | | — | | | 10.88 | | | (20.00 | ) | | | 0.84 | | | 0.76 | | | 0.76 | | | 0.63 | | | 1,354 | | | 93 | |
| 12-31-21 | | | 13.81 | | | 0.06 | • | | 2.62 | | | | 2.68 | | | 0.13 | | | — | | | — | | | 0.13 | | | — | | | 16.36 | | | 19.42 | | | | 0.83 | | | 0.71 | | | 0.71 | | | 0.37 | | | 1,434 | | | 58 | |
| 12-31-20 | | | 13.01 | | | 0.10 | • | | 1.76 | | | | 1.86 | | | 0.18 | | | 0.88 | | | — | | | 1.06 | | | — | | | 13.81 | | | 15.70 | | | | 0.90 | | | 0.71 | | | 0.71 | | | 0.80 | | | 2,038 | | | 85 | |
| 12-31-19 | | | 11.43 | | | 0.16 | • | | 2.60 | | | | 2.76 | | | 0.19 | | | 0.99 | | | — | | | 1.18 | | | — | | | 13.01 | | | 25.05 | | | | 0.82 | | | 0.65 | | | 0.65 | | | 1.28 | | | 1,539 | | | 85 | |
| Voya Solution Balanced Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.31 | | | 0.02 | • | | 0.53 | | | | 0.55 | | | — | | | — | | | — | | | — | | | — | | | 8.86 | | | 6.62 | | | | 0.84 | | | 0.84 | | | 0.84 | | | 0.48 | | | 8,805 | | | 16 | |
| 12-31-23 | | | 7.98 | | | 0.12 | • | | 1.09 | | | | 1.21 | | | 0.32 | | | 0.56 | | | — | | | 0.88 | | | — | | | 8.31 | | | 15.66 | | | | 0.83 | | | 0.83 | | | 0.83 | | | 1.45 | | | 8,830 | | | 37 | |
| 12-31-22 | | | 11.48 | | | 0.08 | • | | (2.05 | ) | | | (1.97 | ) | | 0.35 | | | 1.18 | | | — | | | 1.53 | | | — | | | 7.98 | | | (18.03 | ) | | | 0.84 | | | 0.84 | | | 0.84 | | | 0.83 | | | 8,837 | | | 87 | |
| 12-31-21 | | | 10.26 | | | 0.10 | • | | 1.29 | | | | 1.39 | | | 0.17 | | | — | | | — | | | 0.17 | | | — | | | 11.48 | | | 13.63 | | | | 0.86 | | | 0.80 | | | 0.80 | | | 0.92 | | | 10,713 | | | 50 | |
| 12-31-20 | | | 9.74 | | | 0.11 | • | | 1.06 | | | | 1.17 | | | 0.17 | | | 0.48 | | | — | | | 0.65 | | | — | | | 10.26 | | | 12.75 | | | | 0.89 | | | 0.81 | | | 0.81 | | | 1.22 | | | 9,774 | | | 79 | |
| 12-31-19 | | | 8.89 | | | 0.14 | • | | 1.51 | | | | 1.65 | | | 0.19 | | | 0.61 | | | — | | | 0.80 | | | — | | | 9.74 | | | 19.13 | | | | 0.82 | | | 0.75 | | | 0.75 | | | 1.45 | | | 10,913 | | | 85 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.78 | | | 0.04 | • | | 0.57 | | | | 0.61 | | | — | | | — | | | — | | | — | | | — | | | 9.39 | | | 6.95 | | | | 0.34 | | | 0.34 | | | 0.34 | | | 0.98 | | | 5,196 | | | 16 | |
| 12-31-23 | | | 8.39 | | | 0.17 | • | | 1.15 | | | | 1.32 | | | 0.37 | | | 0.56 | | | — | | | 0.93 | | | — | | | 8.78 | | | 16.25 | | | | 0.33 | | | 0.33 | | | 0.33 | | | 1.95 | | | 4,154 | | | 37 | |
| 12-31-22 | | | 11.98 | | | 0.14 | • | | (2.15 | ) | | | (2.01 | ) | | 0.40 | | | 1.18 | | | — | | | 1.58 | | | — | | | 8.39 | | | (17.61 | ) | | | 0.34 | | | 0.34 | | | 0.34 | | | 1.43 | | | 3,906 | | | 87 | |
| 12-31-21 | | | 10.70 | | | 0.17 | • | | 1.34 | | | | 1.51 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 11.98 | | | 14.15 | | | | 0.36 | | | 0.30 | | | 0.30 | | | 1.49 | | | 3,831 | | | 50 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution Balanced Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-20 | | | 10.14 | | | 0.18 | • | | 1.09 | | | | 1.27 | | | 0.23 | | | 0.48 | | | — | | | 0.71 | | | — | | | 10.70 | | | 13.30 | | | | 0.39 | | | 0.31 | | | 0.31 | | | 1.88 | | | 3,224 | | | 79 | |
| 12-31-19 | | | 9.24 | | | 0.18 | • | | 1.59 | | | | 1.77 | | | 0.26 | | | 0.61 | | | — | | | 0.87 | | | — | | | 10.14 | | | 19.75 | | | | 0.32 | | | 0.25 | | | 0.25 | | | 1.78 | | | 2,482 | | | 85 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.78 | | | 0.05 | • | | 0.56 | | | | 0.61 | | | — | | | — | | | — | | | — | | | — | | | 9.39 | | | 6.95 | | | | 0.27 | | | 0.27 | | | 0.27 | | | 1.04 | | | 24,958 | | | 16 | |
| 12-31-23 | | | 8.39 | | | 0.17 | • | | 1.15 | | | | 1.32 | | | 0.37 | | | 0.56 | | | — | | | 0.93 | | | — | | | 8.78 | | | 16.30 | | | | 0.27 | | | 0.27 | | | 0.27 | | | 2.01 | | | 21,849 | | | 37 | |
| 12-31-22 | | | 11.98 | | | 0.14 | • | | (2.15 | ) | | | (2.01 | ) | | 0.40 | | | 1.18 | | | — | | | 1.58 | | | — | | | 8.39 | | | (17.61 | ) | | | 0.29 | | | 0.29 | | | 0.29 | | | 1.39 | | | 19,887 | | | 87 | |
| 12-31-21 | | | 10.70 | | | 0.16 | • | | 1.35 | | | | 1.51 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 11.98 | | | 14.15 | | | | 0.30 | | | 0.30 | | | 0.30 | | | 1.42 | | | 24,204 | | | 50 | |
| 12-31-20 | | | 10.14 | | | 0.17 | • | | 1.10 | | | | 1.27 | | | 0.23 | | | 0.48 | | | — | | | 0.71 | | | — | | | 10.70 | | | 13.30 | | | | 0.32 | | | 0.31 | | | 0.31 | | | 1.77 | | | 22,189 | | | 79 | |
| 12-31-19 | | | 9.24 | | | 0.21 | • | | 1.56 | | | | 1.77 | | | 0.26 | | | 0.61 | | | — | | | 0.87 | | | — | | | 10.14 | | | 19.76 | | | | 0.32 | | | 0.25 | | | 0.25 | | | 2.09 | | | 20,185 | | | 85 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.46 | | | 0.03 | • | | 0.54 | | | | 0.57 | | | — | | | — | | | — | | | — | | | — | | | 9.03 | | | 6.74 | | | | 0.59 | | | 0.59 | | | 0.59 | | | 0.73 | | | 15,055 | | | 16 | |
| 12-31-23 | | | 8.10 | | | 0.14 | • | | 1.12 | | | | 1.26 | | | 0.34 | | | 0.56 | | | — | | | 0.90 | | | — | | | 8.46 | | | 16.07 | | | | 0.58 | | | 0.58 | | | 0.58 | | | 1.70 | | | 14,310 | | | 37 | |
| 12-31-22 | | | 11.63 | | | 0.09 | • | | (2.07 | ) | | | (1.98 | ) | | 0.37 | | | 1.18 | | | — | | | 1.55 | | | — | | | 8.10 | | | (17.90 | ) | | | 0.59 | | | 0.59 | | | 0.59 | | | 1.00 | | | 15,078 | | | 87 | |
| 12-31-21 | | | 10.39 | | | 0.13 | • | | 1.31 | | | | 1.44 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 11.63 | | | 13.96 | | | | 0.61 | | | 0.55 | | | 0.55 | | | 1.18 | | | 24,044 | | | 50 | |
| 12-31-20 | | | 9.87 | | | 0.16 | | | 1.04 | | | | 1.20 | | | 0.20 | | | 0.48 | | | — | | | 0.68 | | | — | | | 10.39 | | | 12.95 | | | | 0.64 | | | 0.56 | | | 0.56 | | | 1.49 | | | 19,713 | | | 79 | |
| 12-31-19 | | | 9.01 | | | 0.17 | • | | 1.53 | | | | 1.70 | | | 0.23 | | | 0.61 | | | — | | | 0.84 | | | — | | | 9.87 | | | 19.47 | | | | 0.57 | | | 0.50 | | | 0.50 | | | 1.76 | | | 20,388 | | | 85 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.44 | | | 0.03 | • | | 0.53 | | | | 0.56 | | | — | | | — | | | — | | | — | | | — | | | 9.00 | | | 6.64 | | | | 0.74 | | | 0.74 | | | 0.74 | | | 0.58 | | | 1,272 | | | 16 | |
| 12-31-23 | | | 8.09 | | | 0.13 | • | | 1.11 | | | | 1.24 | | | 0.33 | | | 0.56 | | | — | | | 0.89 | | | — | | | 8.44 | | | 15.84 | | | | 0.73 | | | 0.73 | | | 0.73 | | | 1.55 | | | 1,135 | | | 37 | |
| 12-31-22 | | | 11.60 | | | 0.09 | • | | (2.08 | ) | | | (1.99 | ) | | 0.34 | | | 1.18 | | | — | | | 1.52 | | | — | | | 8.09 | | | (17.99 | ) | | | 0.74 | | | 0.74 | | | 0.74 | | | 0.96 | | | 1,091 | | | 87 | |
| 12-31-21 | | | 10.34 | | | 0.11 | • | | 1.31 | | | | 1.42 | | | 0.16 | | | — | | | — | | | 0.16 | | | — | | | 11.60 | | | 13.80 | | | | 0.76 | | | 0.70 | | | 0.70 | | | 1.00 | | | 1,556 | | | 50 | |
| 12-31-20 | | | 9.83 | | | 0.11 | • | | 1.08 | | | | 1.19 | | | 0.20 | | | 0.48 | | | — | | | 0.68 | | | — | | | 10.34 | | | 12.81 | | | | 0.79 | | | 0.71 | | | 0.71 | | | 1.22 | | | 1,621 | | | 79 | |
| 12-31-19 | | | 9.00 | | | 0.18 | • | | 1.49 | | | | 1.67 | | | 0.23 | | | 0.61 | | | — | | | 0.84 | | | — | | | 9.83 | | | 19.22 | | | | 0.72 | | | 0.65 | | | 0.65 | | | 1.90 | | | 2,548 | | | 85 | |
| Voya Solution Conservative Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.58 | | | 0.10 | • | | 0.13 | | | | 0.23 | | | — | | | — | | | — | | | — | | | — | | | 9.81 | | | 2.40 | | | | 1.03 | | | 0.76 | | | 0.76 | | | 2.15 | | | 2,040 | | | 24 | |
| 12-31-23 | | | 9.19 | | | 0.22 | • | | 0.57 | | | | 0.79 | | | 0.27 | | | 0.13 | | | — | | | 0.40 | | | — | | | 9.58 | | | 8.79 | | | | 0.99 | | | 0.74 | | | 0.74 | | | 2.40 | | | 2,751 | | | 58 | |
| 12-31-22 | | | 11.96 | | | 0.13 | • | | (1.72 | ) | | | (1.59 | ) | | 0.35 | | | 0.83 | | | — | | | 1.18 | | | — | | | 9.19 | | | (13.78 | ) | | | 0.97 | | | 0.74 | | | 0.74 | | | 1.31 | | | 3,388 | | | 80 | |
| 12-31-21 | | | 11.80 | | | 0.17 | • | | 0.45 | | | | 0.62 | | | 0.27 | | | 0.19 | | | — | | | 0.46 | | | — | | | 11.96 | | | 5.26 | | | | 0.95 | | | 0.69 | | | 0.69 | | | 1.42 | | | 4,030 | | | 54 | |
| 12-31-20 | | | 11.24 | | | 0.21 | • | | 0.84 | | | | 1.05 | | | 0.28 | | | 0.21 | | | — | | | 0.49 | | | — | | | 11.80 | | | 9.59 | | | | 0.95 | | | 0.70 | | | 0.70 | | | 1.90 | | | 4,658 | | | 91 | |
| 12-31-19 | | | 10.40 | | | 0.24 | | | 0.90 | | | | 1.14 | | | 0.21 | | | 0.09 | | | — | | | 0.30 | | | — | | | 11.24 | | | 10.99 | | | | 0.92 | | | 0.67 | | | 0.67 | | | 2.10 | | | 8,336 | | | 75 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.67 | | | 0.13 | • | | 0.13 | | | | 0.26 | | | — | | | — | | | — | | | — | | | — | | | 9.93 | | | 2.69 | | | | 0.53 | | | 0.26 | | | 0.26 | | | 2.65 | | | 596 | | | 24 | |
| 12-31-23 | | | 9.28 | | | 0.27 | • | | 0.57 | | | | 0.84 | | | 0.32 | | | 0.13 | | | — | | | 0.45 | | | — | | | 9.67 | | | 9.32 | | | | 0.49 | | | 0.24 | | | 0.24 | | | 2.90 | | | 445 | | | 58 | |
| 12-31-22 | | | 12.07 | | | 0.18 | • | | (1.74 | ) | | | (1.56 | ) | | 0.40 | | | 0.83 | | | — | | | 1.23 | | | — | | | 9.28 | | | (13.36 | ) | | | 0.47 | | | 0.24 | | | 0.24 | | | 1.73 | | | 415 | | | 80 | |
| 12-31-21 | | | 11.92 | | | 0.27 | • | | 0.42 | | | | 0.69 | | | 0.35 | | | 0.19 | | | — | | | 0.54 | | | — | | | 12.07 | | | 5.85 | | | | 0.45 | | | 0.19 | | | 0.19 | | | 2.24 | | | 913 | | | 54 | |
| 12-31-20 | | | 11.41 | | | 0.24 | • | | 0.86 | | | | 1.10 | | | 0.38 | | | 0.21 | | | — | | | 0.59 | | | — | | | 11.92 | | | 9.99 | | | | 0.45 | | | 0.20 | | | 0.20 | | | 2.17 | | | 238 | | | 91 | |
| 12-31-19 | | | 10.54 | | | 0.31 | • | | 0.91 | | | | 1.22 | | | 0.26 | | | 0.09 | | | — | | | 0.35 | | | — | | | 11.41 | | | 11.65 | | | | 0.42 | | | 0.17 | | | 0.17 | | | 2.82 | | | 658 | | | 75 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.66 | | | 0.13 | • | | 0.13 | | | | 0.26 | | | — | | | — | | | — | | | — | | | — | | | 9.92 | | | 2.69 | | | | 0.44 | | | 0.25 | | | 0.25 | | | 2.65 | | | 4,170 | | | 24 | |
| 12-31-23 | | | 9.28 | | | 0.27 | • | | 0.56 | | | | 0.83 | | | 0.32 | | | 0.13 | | | — | | | 0.45 | | | — | | | 9.66 | | | 9.26 | | | | 0.41 | | | 0.24 | | | 0.24 | | | 2.90 | | | 4,641 | | | 58 | |
| 12-31-22 | | | 12.07 | | | 0.19 | • | | (1.74 | ) | | | (1.55 | ) | | 0.41 | | | 0.83 | | | — | | | 1.24 | | | — | | | 9.28 | | | (13.34 | ) | | | 0.39 | | | 0.24 | | | 0.24 | | | 1.84 | | | 9,008 | | | 80 | |
| 12-31-21 | | | 11.93 | | | 0.24 | • | | 0.44 | | | | 0.68 | | | 0.35 | | | 0.19 | | | — | | | 0.54 | | | — | | | 12.07 | | | 5.77 | | | | 0.37 | | | 0.19 | | | 0.19 | | | 1.95 | | | 9,365 | | | 54 | |
| 12-31-20 | | | 11.41 | | | 0.28 | • | | 0.83 | | | | 1.11 | | | 0.38 | | | 0.21 | | | — | | | 0.59 | | | — | | | 11.93 | | | 10.09 | | | | 0.39 | | | 0.20 | | | 0.20 | | | 2.46 | | | 7,547 | | | 91 | |
| 12-31-19 | | | 10.54 | | | 0.30 | | | 0.92 | | | | 1.22 | | | 0.26 | | | 0.09 | | | — | | | 0.35 | | | — | | | 11.41 | | | 11.65 | | | | 0.42 | | | 0.17 | | | 0.17 | | | 2.61 | | | 5,365 | | | 75 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.62 | | | 0.12 | • | | 0.12 | | | | 0.24 | | | — | | | — | | | — | | | — | | | — | | | 9.86 | | | 2.50 | | | | 0.78 | | | 0.51 | | | 0.51 | | | 2.40 | | | 1,719 | | | 24 | |
| 12-31-23 | | | 9.23 | | | 0.25 | • | | 0.57 | | | | 0.82 | | | 0.30 | | | 0.13 | | | — | | | 0.43 | | | — | | | 9.62 | | | 9.12 | | | | 0.74 | | | 0.49 | | | 0.49 | | | 2.65 | | | 1,654 | | | 58 | |
| 12-31-22 | | | 12.01 | | | 0.16 | • | | (1.74 | ) | | | (1.58 | ) | | 0.37 | | | 0.83 | | | — | | | 1.20 | | | — | | | 9.23 | | | (13.60 | ) | | | 0.72 | | | 0.49 | | | 0.49 | | | 1.57 | | | 1,782 | | | 80 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution Conservative Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-21 | | | 11.87 | | | 0.20 | • | | 0.45 | | | | 0.65 | | | 0.32 | | | 0.19 | | | — | | | 0.51 | | | — | | | 12.01 | | | 5.52 | | | | 0.70 | | | 0.44 | | | 0.44 | | | 1.67 | | | 2,203 | | | 54 | |
| 12-31-20 | | | 11.34 | | | 0.24 | • | | 0.84 | | | | 1.08 | | | 0.34 | | | 0.21 | | | — | | | 0.55 | | | — | | | 11.87 | | | 9.83 | | | | 0.70 | | | 0.45 | | | 0.45 | | | 2.14 | | | 2,215 | | | 91 | |
| 12-31-19 | | | 10.48 | | | 0.25 | • | | 0.93 | | | | 1.18 | | | 0.23 | | | 0.09 | | | — | | | 0.32 | | | — | | | 11.34 | | | 11.31 | | | | 0.67 | | | 0.42 | | | 0.42 | | | 2.30 | | | 2,839 | | | 75 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.48 | | | 0.11 | • | | 0.13 | | | | 0.24 | | | — | | | — | | | — | | | — | | | — | | | 9.72 | | | 2.53 | | | | 0.93 | | | 0.66 | | | 0.66 | | | 2.25 | | | 891 | | | 24 | |
| 12-31-23 | | | 9.09 | | | 0.23 | • | | 0.55 | | | | 0.78 | | | 0.26 | | | 0.13 | | | — | | | 0.39 | | | — | | | 9.48 | | | 8.88 | | | | 0.89 | | | 0.64 | | | 0.64 | | | 2.50 | | | 662 | | | 58 | |
| 12-31-22 | | | 11.85 | | | 0.15 | • | | (1.72 | ) | | | (1.57 | ) | | 0.36 | | | 0.83 | | | — | | | 1.19 | | | — | | | 9.09 | | | (13.75 | ) | | | 0.87 | | | 0.64 | | | 0.64 | | | 1.47 | | | 1,241 | | | 80 | |
| 12-31-21 | | | 11.73 | | | 0.18 | • | | 0.44 | | | | 0.62 | | | 0.31 | | | 0.19 | | | — | | | 0.50 | | | — | | | 11.85 | | | 5.34 | | | | 0.85 | | | 0.59 | | | 0.59 | | | 1.53 | | | 1,237 | | | 54 | |
| 12-31-20 | | | 11.25 | | | 0.24 | • | | 0.82 | | | | 1.06 | | | 0.37 | | | 0.21 | | | — | | | 0.58 | | | — | | | 11.73 | | | 9.69 | | | | 0.85 | | | 0.60 | | | 0.60 | | | 2.19 | | | 1,438 | | | 91 | |
| 12-31-19 | | | 10.39 | | | 0.23 | • | | 0.93 | | | | 1.16 | | | 0.21 | | | 0.09 | | | — | | | 0.30 | | | — | | | 11.25 | | | 11.21 | | | | 0.82 | | | 0.57 | | | 0.57 | | | 2.14 | | | 393 | | | 75 | |
| Voya Solution Income Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.88 | | | 0.08 | • | | 0.20 | | | | 0.28 | | | — | | | — | | | — | | | — | | | — | | | 10.16 | | | 2.83 | | | | 0.82 | | | 0.77 | | | 0.77 | | | 1.58 | | | 92,731 | | | 21 | |
| 12-31-23 | | | 9.29 | | | 0.21 | • | | 0.74 | | | | 0.95 | | | 0.27 | | | 0.09 | | | — | | | 0.36 | | | — | | | 9.88 | | | 10.47 | | | | 0.80 | | | 0.75 | | | 0.75 | | | 2.19 | | | 96,456 | | | 35 | |
| 12-31-22 | | | 12.75 | | | 0.13 | • | | (1.99 | ) | | | (1.86 | ) | | 0.43 | | | 1.17 | | | — | | | 1.60 | | | — | | | 9.29 | | | (15.32 | ) | | | 0.80 | | | 0.75 | | | 0.75 | | | 1.26 | | | 103,030 | | | 47 | |
| 12-31-21 | | | 12.81 | | | 0.17 | • | | 0.62 | | | | 0.79 | | | 0.36 | | | 0.49 | | | — | | | 0.85 | | | — | | | 12.75 | | | 6.16 | | | | 0.81 | | | 0.72 | | | 0.72 | | | 1.29 | | | 144,001 | | | 35 | |
| 12-31-20 | | | 11.76 | | | 0.21 | • | | 1.13 | | | | 1.34 | | | 0.26 | | | 0.03 | | | — | | | 0.29 | | | — | | | 12.81 | | | 11.61 | | | | 0.81 | | | 0.71 | | | 0.71 | | | 1.75 | | | 150,215 | | | 50 | |
| 12-31-19 | | | 10.92 | | | 0.22 | • | | 1.17 | | | | 1.39 | | | 0.31 | | | 0.24 | | | — | | | 0.55 | | | — | | | 11.76 | | | 12.87 | | | | 0.76 | | | 0.69 | | | 0.69 | | | 1.88 | | | 143,202 | | | 39 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.18 | | | 0.11 | • | | 0.21 | | | | 0.32 | | | — | | | — | | | — | | | — | | | — | | | 10.50 | | | 3.14 | | | | 0.32 | | | 0.27 | | | 0.27 | | | 2.08 | | | 15,422 | | | 21 | |
| 12-31-23 | | | 9.58 | | | 0.27 | • | | 0.75 | | | | 1.02 | | | 0.33 | | | 0.09 | | | — | | | 0.42 | | | — | | | 10.18 | | | 10.91 | | | | 0.30 | | | 0.25 | | | 0.25 | | | 2.69 | | | 19,608 | | | 35 | |
| 12-31-22 | | | 13.10 | | | 0.19 | • | | (2.04 | ) | | | (1.85 | ) | | 0.50 | | | 1.17 | | | — | | | 1.67 | | | — | | | 9.58 | | | (14.82 | ) | | | 0.30 | | | 0.25 | | | 0.25 | | | 1.75 | | | 28,449 | | | 47 | |
| 12-31-21 | | | 13.13 | | | 0.23 | • | | 0.64 | | | | 0.87 | | | 0.41 | | | 0.49 | | | — | | | 0.90 | | | — | | | 13.10 | | | 6.69 | | | | 0.31 | | | 0.22 | | | 0.22 | | | 1.77 | | | 40,086 | | | 35 | |
| 12-31-20 | | | 12.05 | | | 0.26 | • | | 1.18 | | | | 1.44 | | | 0.33 | | | 0.03 | | | — | | | 0.36 | | | — | | | 13.13 | | | 12.18 | | | | 0.31 | | | 0.21 | | | 0.21 | | | 2.15 | | | 46,389 | | | 50 | |
| 12-31-19 | | | 11.19 | | | 0.28 | • | | 1.19 | | | | 1.47 | | | 0.37 | | | 0.24 | | | — | | | 0.61 | | | — | | | 12.05 | | | 13.38 | | | | 0.26 | | | 0.19 | | | 0.19 | | | 2.41 | | | 78,441 | | | 39 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.08 | | | 0.09 | • | | 0.22 | | | | 0.31 | | | — | | | — | | | — | | | — | | | — | | | 10.39 | | | 3.08 | | | | 0.57 | | | 0.52 | | | 0.52 | | | 1.83 | | | 61,882 | | | 21 | |
| 12-31-23 | | | 9.49 | | | 0.24 | • | | 0.74 | | | | 0.98 | | | 0.30 | | | 0.09 | | | — | | | 0.39 | | | — | | | 10.08 | | | 10.57 | | | | 0.55 | | | 0.50 | | | 0.50 | | | 2.44 | | | 64,105 | | | 35 | |
| 12-31-22 | | | 12.98 | | | 0.17 | • | | (2.03 | ) | | | (1.86 | ) | | 0.46 | | | 1.17 | | | — | | | 1.63 | | | — | | | 9.49 | | | (15.01 | ) | | | 0.55 | | | 0.50 | | | 0.50 | | | 1.53 | | | 71,665 | | | 47 | |
| 12-31-21 | | | 13.03 | | | 0.20 | • | | 0.63 | | | | 0.83 | | | 0.39 | | | 0.49 | | | — | | | 0.88 | | | — | | | 12.98 | | | 6.37 | | | | 0.56 | | | 0.47 | | | 0.47 | | | 1.52 | | | 93,573 | | | 35 | |
| 12-31-20 | | | 11.95 | | | 0.24 | • | | 1.16 | | | | 1.40 | | | 0.29 | | | 0.03 | | | — | | | 0.32 | | | — | | | 13.03 | | | 11.94 | | | | 0.56 | | | 0.46 | | | 0.46 | | | 2.00 | | | 105,135 | | | 50 | |
| 12-31-19 | | | 11.09 | | | 0.25 | • | | 1.18 | | | | 1.43 | | | 0.33 | | | 0.24 | | | — | | | 0.57 | | | — | | | 11.95 | | | 13.13 | | | | 0.51 | | | 0.44 | | | 0.44 | | | 2.10 | | | 103,157 | | | 39 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.77 | | | 0.08 | • | | 0.21 | | | | 0.29 | | | — | | | — | | | — | | | — | | | — | | | 10.06 | | | 2.97 | | | | 0.72 | | | 0.67 | | | 0.67 | | | 1.68 | | | 2,838 | | | 21 | |
| 12-31-23 | | | 9.20 | | | 0.22 | • | | 0.72 | | | | 0.94 | | | 0.28 | | | 0.09 | | | — | | | 0.37 | | | — | | | 9.77 | | | 10.47 | | | | 0.70 | | | 0.65 | | | 0.65 | | | 2.29 | | | 3,119 | | | 35 | |
| 12-31-22 | | | 12.62 | | | 0.14 | • | | (1.97 | ) | | | (1.83 | ) | | 0.42 | | | 1.17 | | | — | | | 1.59 | | | — | | | 9.20 | | | (15.17 | ) | | | 0.70 | | | 0.65 | | | 0.65 | | | 1.28 | | | 3,259 | | | 47 | |
| 12-31-21 | | | 12.70 | | | 0.18 | • | | 0.61 | | | | 0.79 | | | 0.38 | | | 0.49 | | | — | | | 0.87 | | | — | | | 12.62 | | | 6.25 | | | | 0.71 | | | 0.62 | | | 0.62 | | | 1.43 | | | 5,629 | | | 35 | |
| 12-31-20 | | | 11.65 | | | 0.22 | • | | 1.12 | | | | 1.34 | | | 0.26 | | | 0.03 | | | — | | | 0.29 | | | — | | | 12.70 | | | 11.74 | | | | 0.71 | | | 0.61 | | | 0.61 | | | 1.84 | | | 5,194 | | | 50 | |
| 12-31-19 | | | 10.82 | | | 0.22 | • | | 1.16 | | | | 1.38 | | | 0.31 | | | 0.24 | | | — | | | 0.55 | | | — | | | 11.65 | | | 12.96 | | | | 0.66 | | | 0.59 | | | 0.59 | | | 1.95 | | | 5,310 | | | 39 | |
| Voya Solution Moderately Aggressive Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.86 | | | 0.01 | • | | 0.89 | | | | 0.90 | | | — | | | — | | | — | | | — | | | — | | | 11.76 | | | 8.29 | | | | 0.75 | | | 0.75 | | | 0.75 | | | 0.09 | | | 23,355 | | | 16 | |
| 12-31-23 | | | 10.06 | | | 0.12 | • | | 1.66 | | | | 1.78 | | | 0.34 | | | 0.64 | | | — | | | 0.98 | | | — | | | 10.86 | | | 18.23 | | | | 0.75 | | | 0.75 | | | 0.75 | | | 1.11 | | | 21,532 | | | 26 | |
| 12-31-22 | | | 14.96 | | | 0.09 | • | | (2.80 | ) | | | (2.71 | ) | | 0.41 | | | 1.78 | | | — | | | 2.19 | | | — | | | 10.06 | | | (19.01 | ) | | | 0.77 | | | 0.77 | | | 0.77 | | | 0.74 | | | 20,306 | | | 71 | |
| 12-31-21 | | | 12.98 | | | 0.09 | • | | 2.09 | | | | 2.18 | | | 0.20 | | | — | | | — | | | 0.20 | | | — | | | 14.96 | | | 16.87 | | | | 0.78 | | | 0.81 | | | 0.81 | | | 0.66 | | | 26,263 | | | 41 | |
| 12-31-20 | | | 12.54 | | | 0.14 | | | 1.40 | | | | 1.54 | | | 0.21 | | | 0.89 | | | — | | | 1.10 | | | — | | | 12.98 | | | 13.59 | | | | 0.77 | | | 0.81 | | | 0.81 | | | 1.03 | | | 24,171 | | | 47 | |
| 12-31-19 | | | 11.39 | | | 0.16 | | | 2.28 | | | | 2.44 | | | 0.26 | | | 1.03 | | | — | | | 1.29 | | | — | | | 12.54 | | | 22.32 | | | | 0.76 | | | 0.76 | | | 0.76 | | | 1.28 | | | 24,168 | | | 55 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.20 | | | 0.03 | • | | 0.92 | | | | 0.95 | | | — | | | — | | | — | | | — | | | — | | | 12.15 | | | 8.48 | | | | 0.25 | | | 0.25 | | | 0.25 | | | 0.59 | | | 7,558 | | | 16 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution Moderately Aggressive Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-23 | | | 10.35 | | | 0.17 | • | | 1.72 | | | | 1.89 | | | 0.40 | | | 0.64 | | | — | | | 1.04 | | | — | | | 11.20 | | | 18.85 | | | | 0.25 | | | 0.25 | | | 0.25 | | | 1.61 | | | 5,819 | | | 26 | |
| 12-31-22 | | | 15.33 | | | 0.17 | • | | (2.89 | ) | | | (2.72 | ) | | 0.48 | | | 1.78 | | | — | | | 2.26 | | | — | | | 10.35 | | | (18.60 | ) | | | 0.27 | | | 0.27 | | | 0.27 | | | 1.37 | | | 4,576 | | | 71 | |
| 12-31-21 | | | 13.29 | | | 0.17 | • | | 2.14 | | | | 2.31 | | | 0.27 | | | — | | | — | | | 0.27 | | | — | | | 15.33 | | | 17.42 | | | | 0.28 | | | 0.31 | | | 0.31 | | | 1.19 | | | 5,090 | | | 41 | |
| 12-31-20 | | | 12.81 | | | 0.18 | • | | 1.46 | | | | 1.64 | | | 0.27 | | | 0.89 | | | — | | | 1.16 | | | — | | | 13.29 | | | 14.23 | | | | 0.27 | | | 0.31 | | | 0.31 | | | 1.54 | | | 4,726 | | | 47 | |
| 12-31-19 | | | 11.61 | | | 0.22 | | | 2.34 | | | | 2.56 | | | 0.33 | | | 1.03 | | | — | | | 1.36 | | | — | | | 12.81 | | | 22.99 | | | | 0.26 | | | 0.26 | | | 0.26 | | | 1.84 | | | 4,862 | | | 55 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.18 | | | 0.03 | • | | 0.93 | | | | 0.96 | | | — | | | — | | | — | | | — | | | — | | | 12.14 | | | 8.59 | | | | 0.24 | | | 0.24 | | | 0.24 | | | 0.60 | | | 32,402 | | | 16 | |
| 12-31-23 | | | 10.34 | | | 0.17 | • | | 1.71 | | | | 1.88 | | | 0.40 | | | 0.64 | | | — | | | 1.04 | | | — | | | 11.18 | | | 18.77 | | | | 0.24 | | | 0.24 | | | 0.24 | | | 1.62 | | | 32,231 | | | 26 | |
| 12-31-22 | | | 15.32 | | | 0.16 | • | | (2.87 | ) | | | (2.71 | ) | | 0.49 | | | 1.78 | | | — | | | 2.27 | | | — | | | 10.34 | | | (18.61 | ) | | | 0.27 | | | 0.27 | | | 0.27 | | | 1.30 | | | 26,694 | | | 71 | |
| 12-31-21 | | | 13.28 | | | 0.18 | • | | 2.13 | | | | 2.31 | | | 0.27 | | | — | | | — | | | 0.27 | | | — | | | 15.32 | | | 17.44 | | | | 0.27 | | | 0.30 | | | 0.30 | | | 1.25 | | | 30,360 | | | 41 | |
| 12-31-20 | | | 12.80 | | | 0.19 | • | | 1.45 | | | | 1.64 | | | 0.27 | | | 0.89 | | | — | | | 1.16 | | | — | | | 13.28 | | | 14.24 | | | | 0.26 | | | 0.30 | | | 0.30 | | | 1.58 | | | 23,965 | | | 47 | |
| 12-31-19 | | | 11.61 | | | 0.23 | • | | 2.32 | | | | 2.55 | | | 0.33 | | | 1.03 | | | — | | | 1.36 | | | — | | | 12.80 | | | 22.91 | | | | 0.26 | | | 0.26 | | | 0.26 | | | 1.87 | | | 17,843 | | | 55 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.02 | | | 0.02 | • | | 0.90 | | | | 0.92 | | | — | | | — | | | — | | | — | | | — | | | 11.94 | | | 8.35 | | | | 0.50 | | | 0.50 | | | 0.50 | | | 0.34 | | | 410,113 | | | 16 | |
| 12-31-23 | | | 10.19 | | | 0.14 | • | | 1.70 | | | | 1.84 | | | 0.37 | | | 0.64 | | | — | | | 1.01 | | | — | | | 11.02 | | | 18.61 | | | | 0.50 | | | 0.50 | | | 0.50 | | | 1.36 | | | 407,787 | | | 26 | |
| 12-31-22 | | | 15.13 | | | 0.12 | • | | (2.84 | ) | | | (2.72 | ) | | 0.44 | | | 1.78 | | | — | | | 2.22 | | | — | | | 10.19 | | | (18.87 | ) | | | 0.52 | | | 0.52 | | | 0.52 | | | 0.97 | | | 396,000 | | | 71 | |
| 12-31-21 | | | 13.12 | | | 0.13 | • | | 2.11 | | | | 2.24 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 15.13 | | | 17.16 | | | | 0.53 | | | 0.56 | | | 0.56 | | | 0.89 | | | 562,208 | | | 41 | |
| 12-31-20 | | | 12.66 | | | 0.17 | | | 1.42 | | | | 1.59 | | | 0.24 | | | 0.89 | | | — | | | 1.13 | | | — | | | 13.12 | | | 13.92 | | | | 0.52 | | | 0.56 | | | 0.56 | | | 1.27 | | | 552,268 | | | 47 | |
| 12-31-19 | | | 11.49 | | | 0.19 | • | | 2.30 | | | | 2.49 | | | 0.29 | | | 1.03 | | | — | | | 1.32 | | | — | | | 12.66 | | | 22.61 | | | | 0.51 | | | 0.51 | | | 0.51 | | | 1.51 | | | 557,294 | | | 55 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.04 | | | 0.01 | • | | 0.90 | | | | 0.91 | | | — | | | — | | | — | | | — | | | — | | | 11.95 | | | 8.24 | | | | 0.65 | | | 0.65 | | | 0.65 | | | 0.19 | | | 1,464 | | | 16 | |
| 12-31-23 | | | 10.21 | | | 0.13 | • | | 1.69 | | | | 1.82 | | | 0.35 | | | 0.64 | | | — | | | 0.99 | | | — | | | 11.04 | | | 18.42 | | | | 0.65 | | | 0.65 | | | 0.65 | | | 1.21 | | | 1,315 | | | 26 | |
| 12-31-22 | | | 15.13 | | | 0.09 | • | | (2.82 | ) | | | (2.73 | ) | | 0.41 | | | 1.78 | | | — | | | 2.19 | | | — | | | 10.21 | | | (18.98 | ) | | | 0.67 | | | 0.67 | | | 0.67 | | | 0.74 | | | 998 | | | 71 | |
| 12-31-21 | | | 13.14 | | | 0.12 | • | | 2.10 | | | | 2.22 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 15.13 | | | 16.99 | | | | 0.68 | | | 0.71 | | | 0.71 | | | 0.84 | | | 1,851 | | | 41 | |
| 12-31-20 | | | 12.69 | | | 0.16 | • | | 1.41 | | | | 1.57 | | | 0.23 | | | 0.89 | | | — | | | 1.12 | | | — | | | 13.14 | | | 13.70 | | | | 0.67 | | | 0.71 | | | 0.71 | | | 1.32 | | | 1,280 | | | 47 | |
| 12-31-19 | | | 11.50 | | | 0.17 | • | | 2.32 | | | | 2.49 | | | 0.27 | | | 1.03 | | | — | | | 1.30 | | | — | | | 12.69 | | | 22.49 | | | | 0.66 | | | 0.66 | | | 0.66 | | | 1.35 | | | 879 | | | 55 | |
| Voya Solution Moderately Conservative Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.60 | | | 0.06 | • | | 0.27 | | | | 0.33 | | | — | | | — | | | — | | | — | | | — | | | 8.93 | | | 3.84 | | | | 1.28 | | | 0.78 | | | 0.78 | | | 1.46 | | | 3,465 | | | 25 | |
| 12-31-23 | | | 8.21 | | | 0.18 | • | | 0.73 | | | | 0.91 | | | 0.25 | | | 0.27 | | | — | | | 0.52 | | | — | | | 8.60 | | | 11.40 | | | | 0.91 | | | 0.78 | | | 0.78 | | | 2.10 | | | 3,430 | | | 40 | |
| 12-31-22 | | | 11.44 | | | 0.11 | • | | (1.86 | ) | | | (1.75 | ) | | 0.37 | | | 1.11 | | | — | | | 1.48 | | | — | | | 8.21 | | | (15.97 | ) | | | 0.88 | | | 0.78 | | | 0.78 | | | 1.21 | | | 5,355 | | | 75 | |
| 12-31-21 | | | 10.69 | | | 0.15 | • | | 0.83 | | | | 0.98 | | | 0.23 | | | — | | | — | | | 0.23 | | | — | | | 11.44 | | | 9.16 | | | | 0.90 | | | 0.73 | | | 0.73 | | | 1.35 | | | 5,957 | | | 46 | |
| 12-31-20 | | | 10.09 | | | 0.17 | • | | 0.90 | | | | 1.07 | | | 0.19 | | | 0.28 | | | — | | | 0.47 | | | — | | | 10.69 | | | 11.01 | | | | 0.92 | | | 0.73 | | | 0.73 | | | 1.76 | | | 6,505 | | | 72 | |
| 12-31-19 | | | 9.13 | | | 0.18 | • | | 1.14 | | | | 1.32 | | | 0.16 | | | 0.20 | | | — | | | 0.36 | | | — | | | 10.09 | | | 14.61 | | | | 0.84 | | | 0.70 | | | 0.70 | | | 1.83 | | | 7,507 | | | 81 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.07 | | | 0.09 | • | | 0.28 | | | | 0.37 | | | — | | | — | | | — | | | — | | | — | | | 9.44 | | | 4.08 | | | | 0.78 | | | 0.28 | | | 0.28 | | | 1.96 | | | 350 | | | 25 | |
| 12-31-23 | | | 8.64 | | | 0.23 | • | | 0.79 | | | | 1.02 | | | 0.32 | | | 0.27 | | | — | | | 0.59 | | | — | | | 9.07 | | | 12.08 | | | | 0.41 | | | 0.28 | | | 0.28 | | | 2.60 | | | 293 | | | 40 | |
| 12-31-22 | | | 11.97 | | | 0.16 | • | | (1.95 | ) | | | (1.79 | ) | | 0.43 | | | 1.11 | | | — | | | 1.54 | | | — | | | 8.64 | | | (15.63 | ) | | | 0.38 | | | 0.28 | | | 0.28 | | | 1.62 | | | 192 | | | 75 | |
| 12-31-21 | | | 11.18 | | | 0.41 | • | | 0.67 | | | | 1.08 | | | 0.29 | | | — | | | — | | | 0.29 | | | — | | | 11.97 | | | 9.69 | | | | 0.40 | | | 0.23 | | | 0.23 | | | 3.56 | | | 373 | | | 46 | |
| 12-31-20 | | | 10.55 | | | 0.23 | • | | 0.93 | | | | 1.16 | | | 0.25 | | | 0.28 | | | — | | | 0.53 | | | — | | | 11.18 | | | 11.50 | | | | 0.42 | | | 0.23 | | | 0.23 | | | 2.27 | | | 43 | | | 72 | |
| 12-31-19 | | | 9.54 | | | 0.29 | • | | 1.14 | | | | 1.43 | | | 0.22 | | | 0.20 | | | — | | | 0.42 | | | — | | | 10.55 | | | 15.17 | | | | 0.34 | | | 0.20 | | | 0.20 | | | 2.83 | | | 69 | | | 81 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.07 | | | 0.09 | • | | 0.27 | | | | 0.36 | | | — | | | — | | | — | | | — | | | — | | | 9.43 | | | 3.97 | | | | 0.69 | | | 0.28 | | | 0.28 | | | 1.96 | | | 11,211 | | | 25 | |
| 12-31-23 | | | 8.64 | | | 0.23 | • | | 0.79 | | | | 1.02 | | | 0.32 | | | 0.27 | | | — | | | 0.59 | | | — | | | 9.07 | | | 12.07 | | | | 0.32 | | | 0.28 | | | 0.28 | | | 2.60 | | | 11,126 | | | 40 | |
| 12-31-22 | | | 11.97 | | | 0.17 | • | | (1.96 | ) | | | (1.79 | ) | | 0.43 | | | 1.11 | | | — | | | 1.54 | | | — | | | 8.64 | | | (15.63 | ) | | | 0.31 | | | 0.28 | | | 0.28 | | | 1.69 | | | 10,211 | | | 75 | |
| 12-31-21 | | | 11.18 | | | 0.22 | • | | 0.86 | | | | 1.08 | | | 0.29 | | | — | | | — | | | 0.29 | | | — | | | 11.97 | | | 9.69 | | | | 0.31 | | | 0.23 | | | 0.23 | | | 1.89 | | | 10,245 | | | 46 | |
| 12-31-20 | | | 10.54 | | | 0.25 | • | | 0.92 | | | | 1.17 | | | 0.25 | | | 0.28 | | | — | | | 0.53 | | | — | | | 11.18 | | | 11.61 | | | | 0.33 | | | 0.23 | | | 0.23 | | | 2.38 | | | 9,068 | | | 72 | |
| 12-31-19 | | | 9.53 | | | 0.25 | • | | 1.18 | | | | 1.43 | | | 0.22 | | | 0.20 | | | — | | | 0.42 | | | — | | | 10.54 | | | 15.18 | | | | 0.34 | | | 0.20 | | | 0.20 | | | 2.47 | | | 6,045 | | | 81 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution Moderately Conservative Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.80 | | | 0.08 | • | | 0.26 | | | | 0.34 | | | — | | | — | | | — | | | — | | | — | | | 9.14 | | | 3.86 | | | | 1.03 | | | 0.53 | | | 0.53 | | | 1.71 | | | 15,328 | | | 25 | |
| 12-31-23 | | | 8.39 | | | 0.20 | • | | 0.77 | | | | 0.97 | | | 0.29 | | | 0.27 | | | — | | | 0.56 | | | — | | | 8.80 | | | 11.86 | | | | 0.66 | | | 0.53 | | | 0.53 | | | 2.35 | | | 14,867 | | | 40 | |
| 12-31-22 | | | 11.67 | | | 0.13 | • | | (1.90 | ) | | | (1.77 | ) | | 0.40 | | | 1.11 | | | — | | | 1.51 | | | — | | | 8.39 | | | (15.87 | ) | | | 0.63 | | | 0.53 | | | 0.53 | | | 1.38 | | | 15,346 | | | 75 | |
| 12-31-21 | | | 10.91 | | | 0.19 | • | | 0.83 | | | | 1.02 | | | 0.26 | | | — | | | — | | | 0.26 | | | — | | | 11.67 | | | 9.41 | | | | 0.65 | | | 0.48 | | | 0.48 | | | 1.64 | | | 21,640 | | | 46 | |
| 12-31-20 | | | 10.30 | | | 0.21 | | | 0.91 | | | | 1.12 | | | 0.23 | | | 0.28 | | | — | | | 0.51 | | | — | | | 10.91 | | | 11.33 | | | | 0.67 | | | 0.48 | | | 0.48 | | | 2.06 | | | 20,347 | | | 72 | |
| 12-31-19 | | | 9.32 | | | 0.22 | • | | 1.16 | | | | 1.38 | | | 0.20 | | | 0.20 | | | — | | | 0.40 | | | — | | | 10.30 | | | 14.96 | | | | 0.59 | | | 0.45 | | | 0.45 | | | 2.24 | | | 19,349 | | | 81 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.67 | | | 0.07 | • | | 0.26 | | | | 0.33 | | | — | | | — | | | — | | | — | | | — | | | 9.00 | | | 3.81 | | | | 1.18 | | | 0.68 | | | 0.68 | | | 1.56 | | | 1,229 | | | 25 | |
| 12-31-23 | | | 8.22 | | | 0.19 | • | | 0.75 | | | | 0.94 | | | 0.22 | | | 0.27 | | | — | | | 0.49 | | | — | | | 8.67 | | | 11.66 | | | | 0.81 | | | 0.68 | | | 0.68 | | | 2.20 | | | 1,398 | | | 40 | |
| 12-31-22 | | | 11.46 | | | 0.12 | • | | (1.87 | ) | | | (1.75 | ) | | 0.38 | | | 1.11 | | | — | | | 1.49 | | | — | | | 8.22 | | | (16.00 | ) | | | 0.78 | | | 0.68 | | | 0.68 | | | 1.28 | | | 3,788 | | | 75 | |
| 12-31-21 | | | 10.72 | | | 0.16 | • | | 0.82 | | | | 0.98 | | | 0.24 | | | — | | | — | | | 0.24 | | | — | | | 11.46 | | | 9.22 | | | | 0.80 | | | 0.63 | | | 0.63 | | | 1.44 | | | 4,718 | | | 46 | |
| 12-31-20 | | | 10.14 | | | 0.19 | • | | 0.89 | | | | 1.08 | | | 0.22 | | | 0.28 | | | — | | | 0.50 | | | — | | | 10.72 | | | 11.13 | | | | 0.82 | | | 0.63 | | | 0.63 | | | 1.89 | | | 5,074 | | | 72 | |
| 12-31-19 | | | 9.21 | | | 0.24 | • | | 1.10 | | | | 1.34 | | | 0.21 | | | 0.20 | | | — | | | 0.41 | | | — | | | 10.14 | | | 14.74 | | | | 0.74 | | | 0.60 | | | 0.60 | | | 2.39 | | | 5,439 | | | 81 | |
| Voya Solution 2025 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.02 | | | 0.04 | • | | 0.40 | | | | 0.44 | | | — | | | — | | | — | | | — | | | — | | | 9.46 | | | 4.88 | | | | 0.81 | | | 0.79 | | | 0.79 | | | 0.98 | | | 162,853 | | | 23 | |
| 12-31-23 | | | 8.30 | | | 0.16 | • | | 0.94 | | | | 1.10 | | | 0.22 | | | 0.16 | | | — | | | 0.38 | | | — | | | 9.02 | | | 13.43 | | | | 0.79 | | | 0.77 | | | 0.77 | | | 1.83 | | | 168,233 | | | 33 | |
| 12-31-22 | | | 12.44 | | | 0.11 | • | | (2.18 | ) | | | (2.07 | ) | | 0.44 | | | 1.63 | | | — | | | 2.07 | | | — | | | 8.30 | | | (17.69 | ) | | | 0.80 | | | 0.74 | | | 0.74 | | | 1.16 | | | 170,434 | | | 53 | |
| 12-31-21 | | | 12.12 | | | 0.14 | • | | 1.10 | | | | 1.24 | | | 0.33 | | | 0.59 | | | — | | | 0.92 | | | — | | | 12.44 | | | 10.40 | | | | 0.81 | | | 0.70 | | | 0.70 | | | 1.16 | | | 234,207 | | | 36 | |
| 12-31-20 | | | 11.37 | | | 0.15 | • | | 1.29 | | | | 1.44 | | | 0.21 | | | 0.48 | | | — | | | 0.69 | | | — | | | 12.12 | | | 13.30 | | | | 0.80 | | | 0.71 | | | 0.71 | | | 1.38 | | | 246,302 | | | 60 | |
| 12-31-19 | | | 10.48 | | | 0.18 | • | | 1.64 | | | | 1.82 | | | 0.25 | | | 0.68 | | | — | | | 0.93 | | | — | | | 11.37 | | | 17.79 | | | | 0.75 | | | 0.71 | | | 0.71 | | | 1.59 | | | 260,690 | | | 44 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.41 | | | 0.07 | • | | 0.41 | | | | 0.48 | | | — | | | — | | | — | | | — | | | — | | | 9.89 | | | 5.10 | | | | 0.31 | | | 0.29 | | | 0.29 | | | 1.48 | | | 25,386 | | | 23 | |
| 12-31-23 | | | 8.65 | | | 0.21 | • | | 0.98 | | | | 1.19 | | | 0.27 | | | 0.16 | | | — | | | 0.43 | | | — | | | 9.41 | | | 13.98 | | | | 0.29 | | | 0.27 | | | 0.27 | | | 2.33 | | | 36,195 | | | 33 | |
| 12-31-22 | | | 12.88 | | | 0.17 | • | | (2.26 | ) | | | (2.09 | ) | | 0.51 | | | 1.63 | | | — | | | 2.14 | | | — | | | 8.65 | | | (17.24 | ) | | | 0.30 | | | 0.24 | | | 0.24 | | | 1.68 | | | 50,063 | | | 53 | |
| 12-31-21 | | | 12.50 | | | 0.21 | • | | 1.14 | | | | 1.35 | | | 0.38 | | | 0.59 | | | — | | | 0.97 | | | — | | | 12.88 | | | 10.96 | | | | 0.31 | | | 0.20 | | | 0.20 | | | 1.61 | | | 64,534 | | | 36 | |
| 12-31-20 | | | 11.71 | | | 0.20 | • | | 1.34 | | | | 1.54 | | | 0.27 | | | 0.48 | | | — | | | 0.75 | | | — | | | 12.50 | | | 13.85 | | | | 0.30 | | | 0.21 | | | 0.21 | | | 1.71 | | | 77,673 | | | 60 | |
| 12-31-19 | | | 10.78 | | | 0.24 | | | 1.68 | | | | 1.92 | | | 0.31 | | | 0.68 | | | — | | | 0.99 | | | — | | | 11.71 | | | 18.33 | | | | 0.25 | | | 0.21 | | | 0.21 | | | 2.14 | | | 260,767 | | | 44 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.23 | | | 0.06 | • | | 0.39 | | | | 0.45 | | | — | | | — | | | — | | | — | | | — | | | 9.68 | | | 4.88 | | | | 0.56 | | | 0.54 | | | 0.54 | | | 1.23 | | | 228,127 | | | 23 | |
| 12-31-23 | | | 8.49 | | | 0.18 | • | | 0.96 | | | | 1.14 | | | 0.24 | | | 0.16 | | | — | | | 0.40 | | | — | | | 9.23 | | | 13.68 | | | | 0.54 | | | 0.52 | | | 0.52 | | | 2.08 | | | 231,648 | | | 33 | |
| 12-31-22 | | | 12.68 | | | 0.15 | • | | (2.24 | ) | | | (2.09 | ) | | 0.47 | | | 1.63 | | | — | | | 2.10 | | | — | | | 8.49 | | | (17.46 | ) | | | 0.55 | | | 0.49 | | | 0.49 | | | 1.43 | | | 232,558 | | | 53 | |
| 12-31-21 | | | 12.34 | | | 0.18 | • | | 1.12 | | | | 1.30 | | | 0.37 | | | 0.59 | | | — | | | 0.96 | | | — | | | 12.68 | | | 10.67 | | | | 0.56 | | | 0.45 | | | 0.45 | | | 1.43 | | | 303,656 | | | 36 | |
| 12-31-20 | | | 11.57 | | | 0.21 | | | 1.28 | | | | 1.49 | | | 0.24 | | | 0.48 | | | — | | | 0.72 | | | — | | | 12.34 | | | 13.54 | | | | 0.55 | | | 0.46 | | | 0.46 | | | 1.65 | | | 299,333 | | | 60 | |
| 12-31-19 | | | 10.65 | | | 0.21 | • | | 1.67 | | | | 1.88 | | | 0.28 | | | 0.68 | | | — | | | 0.96 | | | — | | | 11.57 | | | 18.12 | | | | 0.50 | | | 0.46 | | | 0.46 | | | 1.82 | | | 299,655 | | | 44 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.85 | | | 0.05 | • | | 0.38 | | | | 0.43 | | | — | | | — | | | — | | | — | | | — | | | 9.28 | | | 4.86 | | | | 0.71 | | | 0.69 | | | 0.69 | | | 1.08 | | | 7,282 | | | 23 | |
| 12-31-23 | | | 8.15 | | | 0.16 | • | | 0.93 | | | | 1.09 | | | 0.23 | | | 0.16 | | | — | | | 0.39 | | | — | | | 8.85 | | | 13.52 | | | | 0.69 | | | 0.67 | | | 0.67 | | | 1.93 | | | 7,316 | | | 33 | |
| 12-31-22 | | | 12.26 | | | 0.12 | • | | (2.15 | ) | | | (2.03 | ) | | 0.45 | | | 1.63 | | | — | | | 2.08 | | | — | | | 8.15 | | | (17.59 | ) | | | 0.70 | | | 0.64 | | | 0.64 | | | 1.21 | | | 7,321 | | | 53 | |
| 12-31-21 | | | 11.97 | | | 0.16 | • | | 1.08 | | | | 1.24 | | | 0.36 | | | 0.59 | | | — | | | 0.95 | | | — | | | 12.26 | | | 10.49 | | | | 0.71 | | | 0.60 | | | 0.60 | | | 1.33 | | | 11,469 | | | 36 | |
| 12-31-20 | | | 11.23 | | | 0.16 | • | | 1.27 | | | | 1.43 | | | 0.21 | | | 0.48 | | | — | | | 0.69 | | | — | | | 11.97 | | | 13.42 | | | | 0.70 | | | 0.61 | | | 0.61 | | | 1.47 | | | 9,493 | | | 60 | |
| 12-31-19 | | | 10.35 | | | 0.18 | • | | 1.63 | | | | 1.81 | | | 0.25 | | | 0.68 | | | — | | | 0.93 | | | — | | | 11.23 | | | 17.92 | | | | 0.65 | | | 0.61 | | | 0.61 | | | 1.63 | | | 10,745 | | | 44 | |
| Voya Solution 2030 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.21 | | | 0.04 | • | | 0.72 | | | | 0.76 | | | — | | | — | | | — | | | — | | | — | | | 13.97 | | | 5.75 | | | | 0.85 | | | 0.76 | | | 0.76 | | | 0.65 | | | 23,339 | | | 29 | |
| 12-31-23 | | | 11.95 | | | 0.22 | • | | 1.59 | | | | 1.81 | | | 0.33 | | | 0.22 | | | — | | | 0.55 | | | — | | | 13.21 | | | 15.36 | | | | 0.82 | | | 0.74 | | | 0.74 | | | 1.76 | | | 23,214 | | | 62 | |
| 12-31-22 | | | 18.03 | | | 0.17 | • | | (3.25 | ) | | | (3.08 | ) | | 0.61 | | | 2.39 | | | — | | | 3.00 | | | — | | | 11.95 | | | (18.09 | ) | | | 0.85 | | | 0.70 | | | 0.70 | | | 1.16 | | | 20,852 | | | 83 | |
| 12-31-21 | | | 16.46 | | | 0.20 | • | | 1.81 | | | | 2.01 | | | 0.27 | | | 0.17 | | | — | | | 0.44 | | | — | | | 18.03 | | | 12.26 | | | | 0.90 | | | 0.67 | | | 0.67 | | | 1.15 | | | 25,214 | | | 54 | |
| 12-31-20 | | | 15.30 | | | 0.18 | • | | 1.86 | | | | 2.04 | | | 0.23 | | | 0.65 | | | — | | | 0.88 | | | — | | | 16.46 | | | 13.99 | | | | 0.94 | | | 0.71 | | | 0.71 | | | 1.24 | | | 22,015 | | | 90 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution 2030 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-19 | | | 13.79 | | | 0.23 | • | | 2.46 | | | | 2.69 | | | 0.25 | | | 0.93 | | | — | | | 1.18 | | | — | | | 15.30 | | | 20.13 | | | | 0.83 | | | 0.71 | | | 0.71 | | | 1.55 | | | 18,792 | | | 79 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.80 | | | 0.08 | • | | 0.76 | | | | 0.84 | | | — | | | — | | | — | | | — | | | — | | | 14.64 | | | 6.09 | | | | 0.35 | | | 0.26 | | | 0.26 | | | 1.15 | | | 8,651 | | | 29 | |
| 12-31-23 | | | 12.47 | | | 0.30 | • | | 1.65 | | | | 1.95 | | | 0.40 | | | 0.22 | | | — | | | 0.62 | | | — | | | 13.80 | | | 15.89 | | | | 0.32 | | | 0.24 | | | 0.24 | | | 2.26 | | | 10,587 | | | 62 | |
| 12-31-22 | | | 18.68 | | | 0.24 | • | | (3.36 | ) | | | (3.12 | ) | | 0.70 | | | 2.39 | | | — | | | 3.09 | | | — | | | 12.47 | | | (17.69 | ) | | | 0.35 | | | 0.20 | | | 0.20 | | | 1.59 | | | 9,992 | | | 83 | |
| 12-31-21 | | | 17.02 | | | 0.28 | • | | 1.88 | | | | 2.16 | | | 0.33 | | | 0.17 | | | — | | | 0.50 | | | — | | | 18.68 | | | 12.80 | | | | 0.40 | | | 0.17 | | | 0.17 | | | 1.57 | | | 12,248 | | | 54 | |
| 12-31-20 | | | 15.77 | | | 0.26 | • | | 1.93 | | | | 2.19 | | | 0.29 | | | 0.65 | | | — | | | 0.94 | | | — | | | 17.02 | | | 14.61 | | | | 0.44 | | | 0.21 | | | 0.21 | | | 1.69 | | | 13,812 | | | 90 | |
| 12-31-19 | | | 14.18 | | | 0.33 | • | | 2.51 | | | | 2.84 | | | 0.32 | | | 0.93 | | | — | | | 1.25 | | | — | | | 15.77 | | | 20.65 | | | | 0.33 | | | 0.21 | | | 0.21 | | | 2.18 | | | 13,781 | | | 79 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.65 | | | 0.06 | • | | 0.75 | | | | 0.81 | | | — | | | — | | | — | | | — | | | — | | | 14.46 | | | 5.93 | | | | 0.60 | | | 0.51 | | | 0.51 | | | 0.90 | | | 22,461 | | | 29 | |
| 12-31-23 | | | 12.34 | | | 0.26 | • | | 1.63 | | | | 1.89 | | | 0.36 | | | 0.22 | | | — | | | 0.58 | | | — | | | 13.65 | | | 15.56 | | | | 0.57 | | | 0.49 | | | 0.49 | | | 2.01 | | | 18,676 | | | 62 | |
| 12-31-22 | | | 18.51 | | | 0.21 | • | | (3.34 | ) | | | (3.13 | ) | | 0.65 | | | 2.39 | | | — | | | 3.04 | | | — | | | 12.34 | | | (17.87 | ) | | | 0.60 | | | 0.45 | | | 0.45 | | | 1.43 | | | 16,853 | | | 83 | |
| 12-31-21 | | | 16.89 | | | 0.24 | • | | 1.86 | | | | 2.10 | | | 0.31 | | | 0.17 | | | — | | | 0.48 | | | — | | | 18.51 | | | 12.49 | | | | 0.65 | | | 0.42 | | | 0.42 | | | 1.35 | | | 18,032 | | | 54 | |
| 12-31-20 | | | 15.66 | | | 0.23 | • | | 1.91 | | | | 2.14 | | | 0.26 | | | 0.65 | | | — | | | 0.91 | | | — | | | 16.89 | | | 14.34 | | | | 0.69 | | | 0.46 | | | 0.46 | | | 1.54 | | | 17,584 | | | 90 | |
| 12-31-19 | | | 14.09 | | | 0.27 | • | | 2.51 | | | | 2.78 | | | 0.28 | | | 0.93 | | | — | | | 1.21 | | | — | | | 15.66 | | | 20.36 | | | | 0.58 | | | 0.46 | | | 0.46 | | | 1.78 | | | 13,558 | | | 79 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.43 | | | 0.05 | • | | 0.74 | | | | 0.79 | | | — | | | — | | | — | | | — | | | — | | | 14.22 | | | 5.88 | | | | 0.75 | | | 0.66 | | | 0.66 | | | 0.75 | | | 1,155 | | | 29 | |
| 12-31-23 | | | 12.14 | | | 0.24 | • | | 1.61 | | | | 1.85 | | | 0.34 | | | 0.22 | | | — | | | 0.56 | | | — | | | 13.43 | | | 15.42 | | | | 0.72 | | | 0.64 | | | 0.64 | | | 1.86 | | | 1,023 | | | 62 | |
| 12-31-22 | | | 18.22 | | | 0.15 | • | | (3.25 | ) | | | (3.10 | ) | | 0.59 | | | 2.39 | | | — | | | 2.98 | | | — | | | 12.14 | | | (18.01 | ) | | | 0.75 | | | 0.60 | | | 0.60 | | | 1.01 | | | 677 | | | 83 | |
| 12-31-21 | | | 16.66 | | | 0.27 | • | | 1.77 | | | | 2.04 | | | 0.31 | | | 0.17 | | | — | | | 0.48 | | | — | | | 18.22 | | | 12.35 | | | | 0.80 | | | 0.57 | | | 0.57 | | | 1.53 | | | 1,596 | | | 54 | |
| 12-31-20 | | | 15.46 | | | 0.22 | • | | 1.87 | | | | 2.09 | | | 0.24 | | | 0.65 | | | — | | | 0.89 | | | — | | | 16.66 | | | 14.17 | | | | 0.84 | | | 0.61 | | | 0.61 | | | 1.47 | | | 642 | | | 90 | |
| 12-31-19 | | | 13.90 | | | 0.25 | • | | 2.48 | | | | 2.73 | | | 0.24 | | | 0.93 | | | — | | | 1.17 | | | — | | | 15.46 | | | 20.24 | | | | 0.73 | | | 0.61 | | | 0.61 | | | 1.66 | | | 450 | | | 79 | |
| Voya Solution 2035 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.33 | | | 0.02 | • | | 0.64 | | | | 0.66 | | | — | | | — | | | — | | | — | | | — | | | 9.99 | | | 7.07 | | | | 0.81 | | | 0.74 | | | 0.74 | | | 0.36 | | | 184,191 | | | 19 | |
| 12-31-23 | | | 8.49 | | | 0.14 | • | | 1.31 | | | | 1.45 | | | 0.30 | | | 0.31 | | | — | | | 0.61 | | | — | | | 9.33 | | | 17.38 | | | | 0.80 | | | 0.72 | | | 0.72 | | | 1.52 | | | 175,986 | | | 33 | |
| 12-31-22 | | | 13.07 | | | 0.12 | • | | (2.45 | ) | | | (2.33 | ) | | 0.44 | | | 1.81 | | | — | | | 2.25 | | | — | | | 8.49 | | | (18.84 | ) | | | 0.81 | | | 0.68 | | | 0.68 | | | 1.12 | | | 163,697 | | | 69 | |
| 12-31-21 | | | 12.20 | | | 0.14 | • | | 1.53 | | | | 1.67 | | | 0.26 | | | 0.54 | | | — | | | 0.80 | | | — | | | 13.07 | | | 13.81 | | | | 0.83 | | | 0.65 | | | 0.65 | | | 1.05 | | | 219,940 | | | 42 | |
| 12-31-20 | | | 11.63 | | | 0.13 | | | 1.39 | | | | 1.52 | | | 0.19 | | | 0.76 | | | — | | | 0.95 | | | — | | | 12.20 | | | 14.13 | | | | 0.81 | | | 0.69 | | | 0.69 | | | 0.96 | | | 220,485 | | | 65 | |
| 12-31-19 | | | 10.60 | | | 0.16 | • | | 2.04 | | | | 2.20 | | | 0.24 | | | 0.93 | | | — | | | 1.17 | | | — | | | 11.63 | | | 21.53 | | | | 0.75 | | | 0.71 | | | 0.71 | | | 1.38 | | | 226,096 | | | 52 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.76 | | | 0.04 | • | | 0.67 | | | | 0.71 | | | — | | | — | | | — | | | — | | | — | | | 10.47 | | | 7.28 | | | | 0.31 | | | 0.24 | | | 0.24 | | | 0.86 | | | 47,924 | | | 19 | |
| 12-31-23 | | | 8.86 | | | 0.19 | • | | 1.37 | | | | 1.56 | | | 0.35 | | | 0.31 | | | — | | | 0.66 | | | — | | | 9.76 | | | 17.98 | | | | 0.30 | | | 0.22 | | | 0.22 | | | 2.02 | | | 55,330 | | | 33 | |
| 12-31-22 | | | 13.54 | | | 0.18 | • | | (2.54 | ) | | | (2.36 | ) | | 0.51 | | | 1.81 | | | — | | | 2.32 | | | — | | | 8.86 | | | (18.39 | ) | | | 0.31 | | | 0.18 | | | 0.18 | | | 1.68 | | | 65,455 | | | 69 | |
| 12-31-21 | | | 12.59 | | | 0.20 | • | | 1.59 | | | | 1.79 | | | 0.30 | | | 0.54 | | | — | | | 0.84 | | | — | | | 13.54 | | | 14.35 | | | | 0.33 | | | 0.15 | | | 0.15 | | | 1.48 | | | 78,910 | | | 42 | |
| 12-31-20 | | | 11.98 | | | 0.15 | • | | 1.47 | | | | 1.62 | | | 0.25 | | | 0.76 | | | — | | | 1.01 | | | — | | | 12.59 | | | 14.65 | | | | 0.31 | | | 0.19 | | | 0.19 | | | 1.30 | | | 93,880 | | | 65 | |
| 12-31-19 | | | 10.89 | | | 0.22 | | | 2.10 | | | | 2.32 | | | 0.30 | | | 0.93 | | | — | | | 1.23 | | | — | | | 11.98 | | | 22.22 | | | | 0.25 | | | 0.21 | | | 0.21 | | | 1.97 | | | 304,111 | | | 52 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.56 | | | 0.03 | • | | 0.66 | | | | 0.69 | | | — | | | — | | | — | | | — | | | — | | | 10.25 | | | 7.22 | | | | 0.56 | | | 0.49 | | | 0.49 | | | 0.61 | | | 355,233 | | | 19 | |
| 12-31-23 | | | 8.69 | | | 0.16 | • | | 1.34 | | | | 1.50 | | | 0.32 | | | 0.31 | | | — | | | 0.63 | | | — | | | 9.56 | | | 17.64 | | | | 0.55 | | | 0.47 | | | 0.47 | | | 1.77 | | | 338,635 | | | 33 | |
| 12-31-22 | | | 13.33 | | | 0.15 | • | | (2.51 | ) | | | (2.36 | ) | | 0.47 | | | 1.81 | | | — | | | 2.28 | | | — | | | 8.69 | | | (18.62 | ) | | | 0.56 | | | 0.43 | | | 0.43 | | | 1.41 | | | 297,358 | | | 69 | |
| 12-31-21 | | | 12.43 | | | 0.18 | • | | 1.55 | | | | 1.73 | | | 0.29 | | | 0.54 | | | — | | | 0.83 | | | — | | | 13.33 | | | 14.08 | | | | 0.58 | | | 0.40 | | | 0.40 | | | 1.35 | | | 369,502 | | | 42 | |
| 12-31-20 | | | 11.83 | | | 0.15 | | | 1.43 | | | | 1.58 | | | 0.22 | | | 0.76 | | | — | | | 0.98 | | | — | | | 12.43 | | | 14.46 | | | | 0.56 | | | 0.44 | | | 0.44 | | | 1.24 | | | 341,146 | | | 65 | |
| 12-31-19 | | | 10.76 | | | 0.19 | • | | 2.08 | | | | 2.27 | | | 0.27 | | | 0.93 | | | — | | | 1.20 | | | — | | | 11.83 | | | 21.94 | | | | 0.50 | | | 0.46 | | | 0.46 | | | 1.64 | | | 324,783 | | | 52 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.97 | | | 0.02 | • | | 0.62 | | | | 0.64 | | | — | | | — | | | — | | | — | | | — | | | 9.61 | | | 7.14 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 0.46 | | | 9,388 | | | 19 | |
| 12-31-23 | | | 8.19 | | | 0.14 | • | | 1.26 | | | | 1.40 | | | 0.31 | | | 0.31 | | | — | | | 0.62 | | | — | | | 8.97 | | | 17.43 | | | | 0.70 | | | 0.62 | | | 0.62 | | | 1.62 | | | 10,884 | | | 33 | |
| 12-31-22 | | | 12.70 | | | 0.12 | • | | (2.37 | ) | | | (2.25 | ) | | 0.45 | | | 1.81 | | | — | | | 2.26 | | | — | | | 8.19 | | | (18.73 | ) | | | 0.71 | | | 0.58 | | | 0.58 | | | 1.20 | | | 9,674 | | | 69 | |
| 12-31-21 | | | 11.88 | | | 0.15 | • | | 1.49 | | | | 1.64 | | | 0.28 | | | 0.54 | | | — | | | 0.82 | | | — | | | 12.70 | | | 13.91 | | | | 0.73 | | | 0.55 | | | 0.55 | | | 1.23 | | | 14,062 | | | 42 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution 2035 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S2 (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-20 | | | 11.34 | | | 0.11 | • | | 1.38 | | | | 1.49 | | | 0.19 | | | 0.76 | | | — | | | 0.95 | | | — | | | 11.88 | | | 14.30 | | | | 0.71 | | | 0.59 | | | 0.59 | | | 1.01 | | | 12,050 | | | 65 | |
| 12-31-19 | | | 10.36 | | | 0.16 | • | | 1.99 | | | | 2.15 | | | 0.24 | | | 0.93 | | | — | | | 1.17 | | | — | | | 11.34 | | | 21.63 | | | | 0.65 | | | 0.61 | | | 0.61 | | | 1.46 | | | 14,599 | | | 52 | |
| Voya Solution 2040 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.84 | | | 0.00 | *• | | 1.13 | | | | 1.13 | | | — | | | — | | | — | | | — | | | — | | | 14.97 | | | 8.16 | | | | 0.91 | | | 0.73 | | | 0.73 | | | 0.04 | | | 18,357 | | | 24 | |
| 12-31-23 | | | 12.34 | | | 0.17 | • | | 2.13 | | | | 2.30 | | | 0.44 | | | 0.36 | | | — | | | 0.80 | | | — | | | 13.84 | | | 18.98 | | | | 0.91 | | | 0.71 | | | 0.71 | | | 1.31 | | | 15,845 | | | 57 | |
| 12-31-22 | | | 19.65 | | | 0.17 | • | | (3.78 | ) | | | (3.61 | ) | | 0.58 | | | 3.12 | | | — | | | 3.70 | | | — | | | 12.34 | | | (19.48 | ) | | | 0.90 | | | 0.67 | | | 0.67 | | | 1.14 | | | 14,290 | | | 92 | |
| 12-31-21 | | | 17.38 | | | 0.18 | • | | 2.55 | | | | 2.73 | | | 0.24 | | | 0.22 | | | — | | | 0.46 | | | — | | | 19.65 | | | 15.78 | | | | 0.93 | | | 0.64 | | | 0.64 | | | 0.95 | | | 17,364 | | | 63 | |
| 12-31-20 | | | 16.09 | | | 0.15 | • | | 2.25 | | | | 2.40 | | | 0.24 | | | 0.87 | | | — | | | 1.11 | | | — | | | 17.38 | | | 15.98 | | | | 0.96 | | | 0.70 | | | 0.70 | | | 0.95 | | | 15,773 | | | 91 | |
| 12-31-19 | | | 14.26 | | | 0.23 | • | | 2.92 | | | | 3.15 | | | 0.26 | | | 1.06 | | | — | | | 1.32 | | | — | | | 16.09 | | | 22.82 | | | | 0.84 | | | 0.72 | | | 0.72 | | | 1.47 | | | 14,324 | | | 82 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.50 | | | 0.04 | • | | 1.19 | | | | 1.23 | | | — | | | — | | | — | | | — | | | — | | | 15.73 | | | 8.48 | | | | 0.41 | | | 0.23 | | | 0.23 | | | 0.54 | | | 5,153 | | | 24 | |
| 12-31-23 | | | 12.90 | | | 0.25 | • | | 2.23 | | | | 2.48 | | | 0.52 | | | 0.36 | | | — | | | 0.88 | | | — | | | 14.50 | | | 19.58 | | | | 0.41 | | | 0.21 | | | 0.21 | | | 1.81 | | | 6,338 | | | 57 | |
| 12-31-22 | | | 20.38 | | | 0.25 | • | | (3.93 | ) | | | (3.68 | ) | | 0.68 | | | 3.12 | | | — | | | 3.80 | | | — | | | 12.90 | | | (19.12 | ) | | | 0.40 | | | 0.17 | | | 0.17 | | | 1.61 | | | 10,181 | | | 92 | |
| 12-31-21 | | | 17.99 | | | 0.25 | • | | 2.67 | | | | 2.92 | | | 0.31 | | | 0.22 | | | — | | | 0.53 | | | — | | | 20.38 | | | 16.34 | | | | 0.43 | | | 0.14 | | | 0.14 | | | 1.30 | | | 10,092 | | | 63 | |
| 12-31-20 | | | 16.60 | | | 0.26 | | | 2.31 | | | | 2.57 | | | 0.31 | | | 0.87 | | | — | | | 1.18 | | | — | | | 17.99 | | | 16.55 | | | | 0.46 | | | 0.20 | | | 0.20 | | | 1.48 | | | 12,621 | | | 91 | |
| 12-31-19 | | | 14.66 | | | 0.32 | • | | 3.00 | | | | 3.32 | | | 0.32 | | | 1.06 | | | — | | | 1.38 | | | — | | | 16.60 | | | 23.44 | | | | 0.34 | | | 0.22 | | | 0.22 | | | 1.97 | | | 11,825 | | | 82 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.28 | | | 0.02 | • | | 1.17 | | | | 1.19 | | | — | | | — | | | — | | | — | | | — | | | 15.47 | | | 8.33 | | | | 0.66 | | | 0.48 | | | 0.48 | | | 0.29 | | | 19,584 | | | 24 | |
| 12-31-23 | | | 12.71 | | | 0.21 | • | | 2.19 | | | | 2.40 | | | 0.47 | | | 0.36 | | | — | | | 0.83 | | | — | | | 14.28 | | | 19.27 | | | | 0.66 | | | 0.46 | | | 0.46 | | | 1.56 | | | 15,920 | | | 57 | |
| 12-31-22 | | | 20.14 | | | 0.22 | • | | (3.89 | ) | | | (3.67 | ) | | 0.64 | | | 3.12 | | | — | | | 3.76 | | | — | | | 12.71 | | | (19.29 | ) | | | 0.65 | | | 0.42 | | | 0.42 | | | 1.44 | | | 13,309 | | | 92 | |
| 12-31-21 | | | 17.80 | | | 0.25 | • | | 2.60 | | | | 2.85 | | | 0.29 | | | 0.22 | | | — | | | 0.51 | | | — | | | 20.14 | | | 16.10 | | | | 0.68 | | | 0.39 | | | 0.39 | | | 1.28 | | | 13,325 | | | 63 | |
| 12-31-20 | | | 16.44 | | | 0.20 | • | | 2.29 | | | | 2.49 | | | 0.26 | | | 0.87 | | | — | | | 1.13 | | | — | | | 17.80 | | | 16.23 | | | | 0.71 | | | 0.45 | | | 0.45 | | | 1.26 | | | 10,486 | | | 91 | |
| 12-31-19 | | | 14.54 | | | 0.23 | | | 3.02 | | | | 3.25 | | | 0.29 | | | 1.06 | | | — | | | 1.35 | | | — | | | 16.44 | | | 23.07 | | | | 0.59 | | | 0.47 | | | 0.47 | | | 1.44 | | | 8,500 | | | 82 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.90 | | | 0.01 | • | | 1.14 | | | | 1.15 | | | — | | | — | | | — | | | — | | | — | | | 15.05 | | | 8.27 | | | | 0.81 | | | 0.63 | | | 0.63 | | | 0.14 | | | 2,095 | | | 24 | |
| 12-31-23 | | | 12.39 | | | 0.19 | • | | 2.13 | | | | 2.32 | | | 0.45 | | | 0.36 | | | — | | | 0.81 | | | — | | | 13.90 | | | 19.11 | | | | 0.81 | | | 0.61 | | | 0.61 | | | 1.41 | | | 1,632 | | | 57 | |
| 12-31-22 | | | 19.74 | | | 0.18 | • | | (3.79 | ) | | | (3.61 | ) | | 0.62 | | | 3.12 | | | — | | | 3.74 | | | — | | | 12.39 | | | (19.42 | ) | | | 0.80 | | | 0.57 | | | 0.57 | | | 1.19 | | | 1,604 | | | 92 | |
| 12-31-21 | | | 17.48 | | | 0.24 | • | | 2.52 | | | | 2.76 | | | 0.28 | | | 0.22 | | | — | | | 0.50 | | | — | | | 19.74 | | | 15.88 | | | | 0.83 | | | 0.54 | | | 0.54 | | | 1.25 | | | 2,051 | | | 63 | |
| 12-31-20 | | | 16.17 | | | 0.17 | • | | 2.26 | | | | 2.43 | | | 0.25 | | | 0.87 | | | — | | | 1.12 | | | — | | | 17.48 | | | 16.07 | | | | 0.86 | | | 0.60 | | | 0.60 | | | 1.07 | | | 1,219 | | | 91 | |
| 12-31-19 | | | 14.31 | | | 0.25 | • | | 2.93 | | | | 3.18 | | | 0.26 | | | 1.06 | | | — | | | 1.32 | | | — | | | 16.17 | | | 22.93 | | | | 0.74 | | | 0.62 | | | 0.62 | | | 1.57 | | | 973 | | | 82 | |
| Voya Solution 2045 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.09 | | | (0.01 | )• | | 0.83 | | | | 0.82 | | | — | | | — | | | — | | | — | | | — | | | 9.91 | | | 9.02 | | | | 0.84 | | | 0.74 | | | 0.74 | | | (0.16 | ) | | 137,320 | | | 17 | |
| 12-31-23 | | | 8.24 | | | 0.11 | • | | 1.48 | | | | 1.59 | | | 0.28 | | | 0.46 | | | — | | | 0.74 | | | — | | | 9.09 | | | 19.73 | | | | 0.82 | | | 0.71 | | | 0.71 | | | 1.23 | | | 129,358 | | | 33 | |
| 12-31-22 | | | 13.12 | | | 0.10 | • | | (2.55 | ) | | | (2.45 | ) | | 0.43 | | | 2.00 | | | — | | | 2.43 | | | — | | | 8.24 | | | (19.72 | ) | | | 0.83 | | | 0.67 | | | 0.67 | | | 1.01 | | | 121,395 | | | 75 | |
| 12-31-21 | | | 12.29 | | | 0.11 | • | | 1.94 | | | | 2.05 | | | 0.23 | | | 0.99 | | | — | | | 1.22 | | | — | | | 13.12 | | | 16.95 | | | | 0.85 | | | 0.65 | | | 0.65 | | | 0.86 | | | 162,480 | | | 42 | |
| 12-31-20 | | | 11.47 | | | 0.09 | | | 1.61 | | | | 1.70 | | | 0.16 | | | 0.72 | | | — | | | 0.88 | | | — | | | 12.29 | | | 16.07 | | | | 0.83 | | | 0.70 | | | 0.70 | | | 0.71 | | | 155,503 | | | 61 | |
| 12-31-19 | | | 10.42 | | | 0.15 | | | 2.20 | | | | 2.35 | | | 0.20 | | | 1.10 | | | — | | | 1.30 | | | — | | | 11.47 | | | 23.59 | | | | 0.75 | | | 0.72 | | | 0.72 | | | 1.26 | | | 150,005 | | | 67 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.60 | | | 0.02 | • | | 0.87 | | | | 0.89 | | | — | | | — | | | — | | | — | | | — | | | 10.49 | | | 9.27 | | | | 0.34 | | | 0.24 | | | 0.24 | | | 0.34 | | | 36,063 | | | 17 | |
| 12-31-23 | | | 8.67 | | | 0.16 | • | | 1.56 | | | | 1.72 | | | 0.33 | | | 0.46 | | | — | | | 0.79 | | | — | | | 9.60 | | | 20.32 | | | | 0.32 | | | 0.21 | | | 0.21 | | | 1.73 | | | 43,480 | | | 33 | |
| 12-31-22 | | | 13.67 | | | 0.16 | • | | (2.66 | ) | | | (2.50 | ) | | 0.50 | | | 2.00 | | | — | | | 2.50 | | | — | | | 8.67 | | | (19.28 | ) | | | 0.33 | | | 0.17 | | | 0.17 | | | 1.55 | | | 54,349 | | | 75 | |
| 12-31-21 | | | 12.72 | | | 0.17 | • | | 2.02 | | | | 2.19 | | | 0.25 | | | 0.99 | | | — | | | 1.24 | | | — | | | 13.67 | | | 17.51 | | | | 0.35 | | | 0.15 | | | 0.15 | | | 1.24 | | | 65,611 | | | 42 | |
| 12-31-20 | | | 11.85 | | | 0.12 | • | | 1.69 | | | | 1.81 | | | 0.22 | | | 0.72 | | | — | | | 0.94 | | | — | | | 12.72 | | | 16.57 | | | | 0.33 | | | 0.20 | | | 0.20 | | | 1.06 | | | 82,473 | | | 61 | |
| 12-31-19 | | | 10.73 | | | 0.20 | | | 2.29 | | | | 2.49 | | | 0.27 | | | 1.10 | | | — | | | 1.37 | | | — | | | 11.85 | | | 24.29 | | | | 0.25 | | | 0.22 | | | 0.22 | | | 1.86 | | | 269,670 | | | 67 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.32 | | | 0.00 | *• | | 0.85 | | | | 0.85 | | | — | | | — | | | — | | | — | | | — | | | 10.17 | | | 9.12 | | | | 0.59 | | | 0.49 | | | 0.49 | | | 0.09 | | | 289,038 | | | 17 | |
| 12-31-23 | | | 8.43 | | | 0.13 | • | | 1.52 | | | | 1.65 | | | 0.30 | | | 0.46 | | | — | | | 0.76 | | | — | | | 9.32 | | | 20.09 | | | | 0.57 | | | 0.46 | | | 0.46 | | | 1.48 | | | 274,907 | | | 33 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution 2045 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-22 | | | 13.37 | | | 0.13 | • | | (2.60 | ) | | | (2.47 | ) | | 0.47 | | | 2.00 | | | — | | | 2.47 | | | — | | | 8.43 | | | (19.50 | ) | | | 0.58 | | | 0.42 | | | 0.42 | | | 1.31 | | | 237,729 | | | 75 | |
| 12-31-21 | | | 12.50 | | | 0.15 | • | | 1.97 | | | | 2.12 | | | 0.26 | | | 0.99 | | | — | | | 1.25 | | | — | | | 13.37 | | | 17.26 | | | | 0.60 | | | 0.40 | | | 0.40 | | | 1.14 | | | 289,193 | | | 42 | |
| 12-31-20 | | | 11.66 | | | 0.11 | | | 1.64 | | | | 1.75 | | | 0.19 | | | 0.72 | | | — | | | 0.91 | | | — | | | 12.50 | | | 16.29 | | | | 0.58 | | | 0.45 | | | 0.45 | | | 0.95 | | | 254,990 | | | 61 | |
| 12-31-19 | | | 10.58 | | | 0.18 | | | 2.23 | | | | 2.41 | | | 0.23 | | | 1.10 | | | — | | | 1.33 | | | — | | | 11.66 | | | 23.90 | | | | 0.50 | | | 0.47 | | | 0.47 | | | 1.51 | | | 237,496 | | | 67 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 8.92 | | | (0.00 | )*• | | 0.81 | | | | 0.81 | | | — | | | — | | | — | | | — | | | — | | | 9.73 | | | 9.08 | | | | 0.74 | | | 0.64 | | | 0.64 | | | (0.06 | ) | | 6,186 | | | 17 | |
| 12-31-23 | | | 8.09 | | | 0.11 | • | | 1.47 | | | | 1.58 | | | 0.29 | | | 0.46 | | | — | | | 0.75 | | | — | | | 8.92 | | | 19.96 | | | | 0.72 | | | 0.61 | | | 0.61 | | | 1.33 | | | 6,857 | | | 33 | |
| 12-31-22 | | | 12.93 | | | 0.10 | • | | (2.51 | ) | | | (2.41 | ) | | 0.43 | | | 2.00 | | | — | | | 2.43 | | | — | | | 8.09 | | | (19.70 | ) | | | 0.73 | | | 0.57 | | | 0.57 | | | 0.96 | | | 5,964 | | | 75 | |
| 12-31-21 | | | 12.14 | | | 0.14 | • | | 1.90 | | | | 2.04 | | | 0.26 | | | 0.99 | | | — | | | 1.25 | | | — | | | 12.93 | | | 17.10 | | | | 0.75 | | | 0.55 | | | 0.55 | | | 1.12 | | | 10,947 | | | 42 | |
| 12-31-20 | | | 11.34 | | | 0.09 | • | | 1.60 | | | | 1.69 | | | 0.17 | | | 0.72 | | | — | | | 0.89 | | | — | | | 12.14 | | | 16.13 | | | | 0.73 | | | 0.60 | | | 0.60 | | | 0.82 | | | 6,867 | | | 61 | |
| 12-31-19 | | | 10.31 | | | 0.15 | • | | 2.18 | | | | 2.33 | | | 0.20 | | | 1.10 | | | — | | | 1.30 | | | — | | | 11.34 | | | 23.68 | | | | 0.65 | | | 0.62 | | | 0.62 | | | 1.31 | | | 7,234 | | | 67 | |
| Voya Solution 2050 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.25 | | | (0.02 | )• | | 1.35 | | | | 1.33 | | | — | | | — | | | — | | | — | | | — | | | 15.58 | | | 9.33 | | | | 0.94 | | | 0.75 | | | 0.75 | | | (0.32 | ) | | 16,105 | | | 25 | |
| 12-31-23 | | | 12.58 | | | 0.16 | • | | 2.34 | | | | 2.50 | | | 0.41 | | | 0.42 | | | — | | | 0.83 | | | — | | | 14.25 | | | 20.22 | | | | 0.97 | | | 0.73 | | | 0.73 | | | 1.16 | | | 14,397 | | | 57 | |
| 12-31-22 | | | 20.45 | | | 0.16 | • | | (3.98 | ) | | | (3.82 | ) | | 0.62 | | | 3.43 | | | — | | | 4.05 | | | — | | | 12.58 | | | (19.81 | ) | | | 0.96 | | | 0.68 | | | 0.68 | | | 1.06 | | | 12,860 | | | 88 | |
| 12-31-21 | | | 17.96 | | | 0.14 | • | | 2.86 | | | | 3.00 | | | 0.21 | | | 0.30 | | | — | | | 0.51 | | | — | | | 20.45 | | | 16.82 | | | | 0.98 | | | 0.65 | | | 0.65 | | | 0.71 | | | 15,352 | | | 60 | |
| 12-31-20 | | | 16.63 | | | 0.13 | • | | 2.32 | | | | 2.45 | | | 0.23 | | | 0.89 | | | — | | | 1.12 | | | — | | | 17.96 | | | 15.79 | | | | 1.03 | | | 0.71 | | | 0.71 | | | 0.81 | | | 15,402 | | | 80 | |
| 12-31-19 | | | 14.58 | | | 0.23 | • | | 3.17 | | | | 3.40 | | | 0.22 | | | 1.13 | | | — | | | 1.35 | | | — | | | 16.63 | | | 24.13 | | | | 0.86 | | | 0.73 | | | 0.73 | | | 1.45 | | | 12,951 | | | 84 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.03 | | | 0.01 | • | | 1.44 | | | | 1.45 | | | — | | | — | | | — | | | — | | | — | | | 16.48 | | | 9.65 | | | | 0.44 | | | 0.25 | | | 0.25 | | | 0.18 | | | 5,814 | | | 25 | |
| 12-31-23 | | | 13.23 | | | 0.23 | • | | 2.48 | | | | 2.71 | | | 0.49 | | | 0.42 | | | — | | | 0.91 | | | — | | | 15.03 | | | 20.88 | | | | 0.47 | | | 0.23 | | | 0.23 | | | 1.66 | | | 6,594 | | | 57 | |
| 12-31-22 | | | 21.30 | | | 0.25 | • | | (4.17 | ) | | | (3.92 | ) | | 0.72 | | | 3.43 | | | — | | | 4.15 | | | — | | | 13.23 | | | (19.46 | ) | | | 0.46 | | | 0.18 | | | 0.18 | | | 1.57 | | | 9,196 | | | 88 | |
| 12-31-21 | | | 18.66 | | | 0.22 | • | | 3.01 | | | | 3.23 | | | 0.29 | | | 0.30 | | | — | | | 0.59 | | | — | | | 21.30 | | | 17.42 | | | | 0.48 | | | 0.15 | | | 0.15 | | | 1.09 | | | 9,999 | | | 60 | |
| 12-31-20 | | | 17.22 | | | 0.24 | | | 2.38 | | | | 2.62 | | | 0.29 | | | 0.89 | | | — | | | 1.18 | | | — | | | 18.66 | | | 16.36 | | | | 0.53 | | | 0.21 | | | 0.21 | | | 1.31 | | | 11,647 | | | 80 | |
| 12-31-19 | | | 15.04 | | | 0.34 | • | | 3.25 | | | | 3.59 | | | 0.28 | | | 1.13 | | | — | | | 1.41 | | | — | | | 17.22 | | | 24.74 | | | | 0.36 | | | 0.23 | | | 0.23 | | | 2.04 | | | 10,912 | | | 84 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.73 | | | (0.01 | )• | | 1.41 | | | | 1.40 | | | — | | | — | | | — | | | — | | | — | | | 16.13 | | | 9.51 | | | | 0.69 | | | 0.50 | | | 0.50 | | | (0.07 | ) | | 17,795 | | | 25 | |
| 12-31-23 | | | 12.98 | | | 0.20 | • | | 2.41 | | | | 2.61 | | | 0.44 | | | 0.42 | | | — | | | 0.86 | | | — | | | 14.73 | | | 20.50 | | | | 0.72 | | | 0.48 | | | 0.48 | | | 1.41 | | | 13,936 | | | 57 | |
| 12-31-22 | | | 20.99 | | | 0.23 | • | | (4.12 | ) | | | (3.89 | ) | | 0.69 | | | 3.43 | | | — | | | 4.12 | | | — | | | 12.98 | | | (19.64 | ) | | | 0.71 | | | 0.43 | | | 0.43 | | | 1.49 | | | 10,577 | | | 88 | |
| 12-31-21 | | | 18.42 | | | 0.20 | • | | 2.93 | | | | 3.13 | | | 0.26 | | | 0.30 | | | — | | | 0.56 | | | — | | | 20.99 | | | 17.10 | | | | 0.73 | | | 0.40 | | | 0.40 | | | 0.97 | | | 9,740 | | | 60 | |
| 12-31-20 | | | 17.01 | | | 0.17 | • | | 2.39 | | | | 2.56 | | | 0.26 | | | 0.89 | | | — | | | 1.15 | | | — | | | 18.42 | | | 16.11 | | | | 0.78 | | | 0.46 | | | 0.46 | | | 1.04 | | | 8,339 | | | 80 | |
| 12-31-19 | | | 14.88 | | | 0.26 | • | | 3.25 | | | | 3.51 | | | 0.25 | | | 1.13 | | | — | | | 1.38 | | | — | | | 17.01 | | | 24.41 | | | | 0.61 | | | 0.48 | | | 0.48 | | | 1.58 | | | 7,397 | | | 84 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.43 | | | (0.02 | )• | | 1.38 | | | | 1.36 | | | — | | | — | | | — | | | — | | | — | | | 15.79 | | | 9.43 | | | | 0.84 | | | 0.65 | | | 0.65 | | | (0.23 | ) | | 1,326 | | | 25 | |
| 12-31-23 | | | 12.73 | | | 0.17 | • | | 2.37 | | | | 2.54 | | | 0.42 | | | 0.42 | | | — | | | 0.84 | | | — | | | 14.43 | | | 20.36 | | | | 0.87 | | | 0.63 | | | 0.63 | | | 1.26 | | | 958 | | | 57 | |
| 12-31-22 | | | 20.63 | | | 0.15 | • | | (4.00 | ) | | | (3.85 | ) | | 0.62 | | | 3.43 | | | — | | | 4.05 | | | — | | | 12.73 | | | (19.76 | ) | | | 0.86 | | | 0.58 | | | 0.58 | | | 0.95 | | | 601 | | | 88 | |
| 12-31-21 | | | 18.16 | | | 0.20 | • | | 2.85 | | | | 3.05 | | | 0.28 | | | 0.30 | | | — | | | 0.58 | | | — | | | 20.63 | | | 16.91 | | | | 0.88 | | | 0.55 | | | 0.55 | | | 0.99 | | | 1,022 | | | 60 | |
| 12-31-20 | | | 16.78 | | | 0.17 | | | 2.32 | | | | 2.49 | | | 0.22 | | | 0.89 | | | — | | | 1.11 | | | — | | | 18.16 | | | 15.91 | | | | 0.93 | | | 0.61 | | | 0.61 | | | 0.89 | | | 432 | | | 80 | |
| 12-31-19 | | | 14.67 | | | 0.23 | • | | 3.21 | | | | 3.44 | | | 0.20 | | | 1.13 | | | — | | | 1.33 | | | — | | | 16.78 | | | 24.25 | | | | 0.76 | | | 0.63 | | | 0.63 | | | 1.40 | | | 419 | | | 84 | |
| Voya Solution 2055 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.80 | | | (0.02 | )• | | 1.04 | | | | 1.02 | | | — | | | — | | | — | | | — | | | — | | | 11.82 | | | 9.45 | | | | 0.88 | | | 0.77 | | | 0.77 | | | (0.40 | ) | | 54,755 | | | 21 | |
| 12-31-23 | | | 9.45 | | | 0.11 | • | | 1.77 | | | | 1.88 | | | 0.29 | | | 0.24 | | | — | | | 0.53 | | | — | | | 10.80 | | | 20.21 | | | | 0.87 | | | 0.74 | | | 0.74 | | | 1.06 | | | 50,945 | | | 37 | |
| 12-31-22 | | | 15.14 | | | 0.12 | • | | (2.98 | ) | | | (2.86 | ) | | 0.48 | | | 2.35 | | | — | | | 2.83 | | | — | | | 9.45 | | | (19.93 | ) | | | 0.88 | | | 0.69 | | | 0.69 | | | 1.00 | | | 45,825 | | | 75 | |
| 12-31-21 | | | 14.99 | | | 0.10 | • | | 2.38 | | | | 2.48 | | | 0.31 | | | 2.02 | | | — | | | 2.33 | | | — | | | 15.14 | | | 17.03 | | | | 0.93 | | | 0.66 | | | 0.66 | | | 0.67 | | | 58,046 | | | 51 | |
| 12-31-20 | | | 13.85 | | | 0.08 | | | 1.95 | | | | 2.03 | | | 0.15 | | | 0.74 | | | — | | | 0.89 | | | — | | | 14.99 | | | 15.75 | | | | 0.96 | | | 0.69 | | | 0.69 | | | 0.63 | | | 54,540 | | | 67 | |
| 12-31-19 | | | 12.35 | | | 0.16 | | | 2.70 | | | | 2.86 | | | 0.20 | | | 1.16 | | | — | | | 1.36 | | | — | | | 13.85 | | | 24.13 | | | | 0.77 | | | 0.72 | | | 0.72 | | | 1.29 | | | 49,315 | | | 61 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution 2055 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.35 | | | 0.01 | • | | 1.09 | | | | 1.10 | | | — | | | — | | | — | | | — | | | — | | | 12.45 | | | 9.69 | | | | 0.38 | | | 0.27 | | | 0.27 | | | 0.10 | | | 19,870 | | | 21 | |
| 12-31-23 | | | 9.90 | | | 0.17 | • | | 1.87 | | | | 2.04 | | | 0.35 | | | 0.24 | | | — | | | 0.59 | | | — | | | 11.35 | | | 20.90 | | | | 0.37 | | | 0.24 | | | 0.24 | | | 1.56 | | | 20,883 | | | 37 | |
| 12-31-22 | | | 15.72 | | | 0.19 | • | | (3.10 | ) | | | (2.91 | ) | | 0.56 | | | 2.35 | | | — | | | 2.91 | | | — | | | 9.90 | | | (19.53 | ) | | | 0.38 | | | 0.19 | | | 0.19 | | | 1.57 | | | 24,944 | | | 75 | |
| 12-31-21 | | | 15.37 | | | 0.18 | • | | 2.45 | | | | 2.63 | | | 0.26 | | | 2.02 | | | — | | | 2.28 | | | — | | | 15.72 | | | 17.53 | | | | 0.43 | | | 0.16 | | | 0.16 | | | 1.10 | | | 27,701 | | | 51 | |
| 12-31-20 | | | 14.17 | | | 0.13 | • | | 2.03 | | | | 2.16 | | | 0.22 | | | 0.74 | | | — | | | 0.96 | | | — | | | 15.37 | | | 16.38 | | | | 0.46 | | | 0.19 | | | 0.19 | | | 1.00 | | | 34,329 | | | 67 | |
| 12-31-19 | | | 12.61 | | | 0.27 | • | | 2.72 | | | | 2.99 | | | 0.27 | | | 1.16 | | | — | | | 1.43 | | | — | | | 14.17 | | | 24.76 | | | | 0.27 | | | 0.22 | | | 0.22 | | | 1.93 | | | 119,915 | | | 61 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.97 | | | (0.01 | )• | | 1.06 | | | | 1.05 | | | — | | | — | | | — | | | — | | | — | | | 12.02 | | | 9.57 | | | | 0.63 | | | 0.52 | | | 0.52 | | | (0.15 | ) | | 97,190 | | | 21 | |
| 12-31-23 | | | 9.58 | | | 0.13 | • | | 1.82 | | | | 1.95 | | | 0.32 | | | 0.24 | | | — | | | 0.56 | | | — | | | 10.97 | | | 20.66 | | | | 0.62 | | | 0.49 | | | 0.49 | | | 1.31 | | | 87,505 | | | 37 | |
| 12-31-22 | | | 15.33 | | | 0.15 | • | | (3.02 | ) | | | (2.87 | ) | | 0.53 | | | 2.35 | | | — | | | 2.88 | | | — | | | 9.58 | | | (19.80 | ) | | | 0.63 | | | 0.44 | | | 0.44 | | | 1.32 | | | 86,020 | | | 75 | |
| 12-31-21 | | | 15.15 | | | 0.15 | • | | 2.40 | | | | 2.55 | | | 0.35 | | | 2.02 | | | — | | | 2.37 | | | — | | | 15.33 | | | 17.32 | | | | 0.68 | | | 0.41 | | | 0.41 | | | 0.96 | | | 86,021 | | | 51 | |
| 12-31-20 | | | 13.99 | | | 0.12 | • | | 1.97 | | | | 2.09 | | | 0.19 | | | 0.74 | | | — | | | 0.93 | | | — | | | 15.15 | | | 16.04 | | | | 0.71 | | | 0.44 | | | 0.44 | | | 0.90 | | | 73,361 | | | 67 | |
| 12-31-19 | | | 12.46 | | | 0.20 | | | 2.72 | | | | 2.92 | | | 0.23 | | | 1.16 | | | — | | | 1.39 | | | — | | | 13.99 | | | 24.50 | | | | 0.52 | | | 0.47 | | | 0.47 | | | 1.52 | | | 59,923 | | | 61 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.91 | | | (0.02 | )• | | 1.06 | | | | 1.04 | | | — | | | — | | | — | | | — | | | — | | | 11.95 | | | 9.53 | | | | 0.78 | | | 0.67 | | | 0.67 | | | (0.30 | ) | | 3,835 | | | 21 | |
| 12-31-23 | | | 9.53 | | | 0.12 | • | | 1.80 | | | | 1.92 | | | 0.30 | | | 0.24 | | | — | | | 0.54 | | | — | | | 10.91 | | | 20.41 | | | | 0.77 | | | 0.64 | | | 0.64 | | | 1.16 | | | 3,428 | | | 37 | |
| 12-31-22 | | | 15.22 | | | 0.11 | • | | (2.97 | ) | | | (2.86 | ) | | 0.48 | | | 2.35 | | | — | | | 2.83 | | | — | | | 9.53 | | | (19.84 | ) | | | 0.78 | | | 0.59 | | | 0.59 | | | 0.93 | | | 3,070 | | | 75 | |
| 12-31-21 | | | 15.09 | | | 0.15 | • | | 2.36 | | | | 2.51 | | | 0.36 | | | 2.02 | | | — | | | 2.38 | | | — | | | 15.22 | | | 17.09 | | | | 0.83 | | | 0.56 | | | 0.56 | | | 0.97 | | | 5,377 | | | 51 | |
| 12-31-20 | | | 13.92 | | | 0.13 | | | 1.93 | | | | 2.06 | | | 0.15 | | | 0.74 | | | — | | | 0.89 | | | — | | | 15.09 | | | 15.86 | | | | 0.86 | | | 0.59 | | | 0.59 | | | 0.80 | | | 3,036 | | | 67 | |
| 12-31-19 | | | 12.39 | | | 0.18 | • | | 2.70 | | | | 2.88 | | | 0.19 | | | 1.16 | | | — | | | 1.35 | | | — | | | 13.92 | | | 24.28 | | | | 0.67 | | | 0.62 | | | 0.62 | | | 1.33 | | | 2,876 | | | 61 | |
| Voya Solution 2060 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.61 | | | (0.02 | )• | | 1.02 | | | | 1.00 | | | — | | | — | | | — | | | — | | | — | | | 11.61 | | | 9.43 | | | | 1.02 | | | 0.76 | | | 0.76 | | | (0.40 | ) | | 11,849 | | | 25 | |
| 12-31-23 | | | 9.27 | | | 0.12 | • | | 1.73 | | | | 1.85 | | | 0.28 | | | 0.23 | | | — | | | 0.51 | | | — | | | 10.61 | | | 20.29 | | | | 1.08 | | | 0.74 | | | 0.74 | | | 1.17 | | | 10,706 | | | 55 | |
| 12-31-22 | | | 14.96 | | | 0.12 | • | | (2.95 | ) | | | (2.83 | ) | | 0.44 | | | 2.42 | | | — | | | 2.86 | | | — | | | 9.27 | | | (19.99 | ) | | | 1.05 | | | 0.70 | | | 0.70 | | | 1.04 | | | 9,384 | | | 85 | |
| 12-31-21 | | | 13.16 | | | 0.10 | • | | 2.11 | | | | 2.21 | | | 0.16 | | | 0.25 | | | — | | | 0.41 | | | — | | | 14.96 | | | 16.63 | | | | 1.08 | | | 0.68 | | | 0.68 | | | 0.73 | | | 10,459 | | | 68 | |
| 12-31-20 | | | 12.04 | | | 0.10 | • | | 1.67 | | | | 1.77 | | | 0.12 | | | 0.53 | | | — | | | 0.65 | | | — | | | 13.16 | | | 15.62 | | | | 1.14 | | | 0.70 | | | 0.70 | | | 0.85 | | | 8,999 | | | 74 | |
| 12-31-19 | | | 10.45 | | | 0.16 | • | | 2.28 | | | | 2.44 | | | 0.15 | | | 0.70 | | | — | | | 0.85 | | | — | | | 12.04 | | | 24.12 | | | | 0.95 | | | 0.74 | | | 0.74 | | | 1.39 | | | 6,976 | | | 89 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.92 | | | 0.01 | • | | 1.05 | | | | 1.06 | | | — | | | — | | | — | | | — | | | — | | | 11.98 | | | 9.71 | | | | 0.52 | | | 0.26 | | | 0.26 | | | 0.10 | | | 5,695 | | | 25 | |
| 12-31-23 | | | 9.52 | | | 0.17 | • | | 1.79 | | | | 1.96 | | | 0.33 | | | 0.23 | | | — | | | 0.56 | | | — | | | 10.92 | | | 20.98 | | | | 0.58 | | | 0.24 | | | 0.24 | | | 1.67 | | | 6,336 | | | 55 | |
| 12-31-22 | | | 15.29 | | | 0.19 | • | | (3.03 | ) | | | (2.84 | ) | | 0.51 | | | 2.42 | | | — | | | 2.93 | | | — | | | 9.52 | | | (19.65 | ) | | | 0.55 | | | 0.20 | | | 0.20 | | | 1.64 | | | 6,855 | | | 85 | |
| 12-31-21 | | | 13.41 | | | 0.15 | • | | 2.18 | | | | 2.33 | | | 0.20 | | | 0.25 | | | — | | | 0.45 | | | — | | | 15.29 | | | 17.46 | | | | 0.58 | | | 0.18 | | | 0.18 | | | 1.04 | | | 6,685 | | | 68 | |
| 12-31-20 | | | 12.25 | | | 0.17 | • | | 1.69 | | | | 1.86 | | | 0.17 | | | 0.53 | | | — | | | 0.70 | | | — | | | 13.41 | | | 16.14 | | | | 0.64 | | | 0.20 | | | 0.20 | | | 1.42 | | | 7,950 | | | 74 | |
| 12-31-19 | | | 10.60 | | | 0.25 | • | | 2.29 | | | | 2.54 | | | 0.19 | | | 0.70 | | | — | | | 0.89 | | | — | | | 12.25 | | | 24.79 | | | | 0.45 | | | 0.24 | | | 0.24 | | | 2.14 | | | 5,184 | | | 89 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.67 | | | (0.01 | )• | | 1.03 | | | | 1.02 | | | — | | | — | | | — | | | — | | | — | | | 11.69 | | | 9.56 | | | | 0.77 | | | 0.51 | | | 0.51 | | | (0.15 | ) | | 13,626 | | | 25 | |
| 12-31-23 | | | 9.32 | | | 0.14 | • | | 1.74 | | | | 1.88 | | | 0.30 | | | 0.23 | | | — | | | 0.53 | | | — | | | 10.67 | | | 20.59 | | | | 0.83 | | | 0.49 | | | 0.49 | | | 1.42 | | | 10,507 | | | 55 | |
| 12-31-22 | | | 15.03 | | | 0.16 | • | | (2.97 | ) | | | (2.81 | ) | | 0.48 | | | 2.42 | | | — | | | 2.90 | | | — | | | 9.32 | | | (19.78 | ) | | | 0.80 | | | 0.45 | | | 0.45 | | | 1.43 | | | 8,466 | | | 85 | |
| 12-31-21 | | | 13.21 | | | 0.13 | • | | 2.12 | | | | 2.25 | | | 0.18 | | | 0.25 | | | — | | | 0.43 | | | — | | | 15.03 | | | 17.15 | | | | 0.83 | | | 0.43 | | | 0.43 | | | 0.93 | | | 8,211 | | | 68 | |
| 12-31-20 | | | 12.08 | | | 0.13 | • | | 1.68 | | | | 1.81 | | | 0.15 | | | 0.53 | | | — | | | 0.68 | | | — | | | 13.21 | | | 15.90 | | | | 0.89 | | | 0.45 | | | 0.45 | | | 1.15 | | | 6,886 | | | 74 | |
| 12-31-19 | | | 10.47 | | | 0.18 | | | 2.30 | | | | 2.48 | | | 0.17 | | | 0.70 | | | — | | | 0.87 | | | — | | | 12.08 | | | 24.45 | | | | 0.70 | | | 0.49 | | | 0.49 | | | 1.56 | | | 4,901 | | | 89 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.63 | | | (0.02 | )• | | 1.03 | | | | 1.01 | | | — | | | — | | | — | | | — | | | — | | | 11.64 | | | 9.50 | | | | 0.92 | | | 0.66 | | | 0.66 | | | (0.30 | ) | | 1,077 | | | 25 | |
| 12-31-23 | | | 9.28 | | | 0.13 | • | | 1.73 | | | | 1.86 | | | 0.28 | | | 0.23 | | | — | | | 0.51 | | | — | | | 10.63 | | | 20.45 | | | | 0.98 | | | 0.64 | | | 0.64 | | | 1.27 | | | 947 | | | 55 | |
| 12-31-22 | | | 14.96 | | | 0.11 | • | | (2.93 | ) | | | (2.82 | ) | | 0.44 | | | 2.42 | | | — | | | 2.86 | | | — | | | 9.28 | | | (19.93 | ) | | | 0.95 | | | 0.60 | | | 0.60 | | | 0.91 | | | 729 | | | 85 | |
| 12-31-21 | | | 13.19 | | | 0.16 | • | | 2.06 | | | | 2.22 | | | 0.20 | | | 0.25 | | | — | | | 0.45 | | | — | | | 14.96 | | | 16.93 | | | | 0.98 | | | 0.58 | | | 0.58 | | | 1.08 | | | 1,234 | | | 68 | |
| 12-31-20 | | | 12.07 | | | 0.12 | • | | 1.67 | | | | 1.79 | | | 0.14 | | | 0.53 | | | — | | | 0.67 | | | — | | | 13.19 | | | 15.73 | | | | 1.04 | | | 0.60 | | | 0.60 | | | 1.07 | | | 471 | | | 74 | |
| 12-31-19 | | | 10.46 | | | 0.18 | | | 2.28 | | | | 2.46 | | | 0.15 | | | 0.70 | | | — | | | 0.85 | | | — | | | 12.07 | | | 24.26 | | | | 0.85 | | | 0.64 | | | 0.64 | | | 1.44 | | | 269 | | | 89 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total
Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income (loss)
(2)(3)(5) | | | Net
assets,
end of
year or
period | | | Portfolio turnover rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Solution 2065 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.69 | | | (0.02 | )• | | 1.05 | | | | 1.03 | | | — | | | — | | | — | | | — | | | — | | | 11.72 | | | 9.64 | | | | 1.00 | | | 0.76 | | | 0.76 | | | (0.43 | ) | | 4,691 | | | 21 | |
| 12-31-23 | | | 8.89 | | | 0.14 | • | | 1.67 | | | | 1.81 | | | — | | | 0.01 | | | — | | | 0.01 | | | — | | | 10.69 | | | 20.31 | | | | 1.20 | | | 0.75 | | | 0.75 | | | 1.47 | | | 3,614 | | | 33 | |
| 12-31-22 | | | 11.94 | | | 0.11 | • | | (2.48 | ) | | | (2.37 | ) | | 0.24 | | | 0.44 | | | — | | | 0.68 | | | — | | | 8.89 | | | (19.98 | ) | | | 1.30 | | | 0.70 | | | 0.70 | | | 1.16 | | | 1,988 | | | 89 | |
| 12-31-21 | | | 11.55 | | | 0.11 | • | | 1.86 | | | | 1.97 | | | 0.41 | | | 1.17 | | | — | | | 1.58 | | | — | | | 11.94 | | | 17.05 | | | | 1.61 | | | 0.67 | | | 0.67 | | | 0.90 | | | 1,583 | | | 53 | |
| 07-29-20(6) - 12-31-20 | | | 10.00 | | | 0.12 | • | | 1.62 | | | | 1.74 | | | 0.14 | | | 0.05 | | | — | | | 0.19 | | | — | | | 11.55 | | | 17.42 | | | | 1.97 | | | 0.72 | | | 0.72 | | | 2.64 | | | 1,012 | | | 24 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.35 | | | 0.00 | *• | | 1.02 | | | | 1.02 | | | — | | | — | | | — | | | — | | | — | | | 11.37 | | | 9.86 | | | | 0.50 | | | 0.26 | | | 0.26 | | | 0.07 | | | 3,791 | | | 21 | |
| 12-31-23 | | | 8.92 | | | 0.19 | • | | 1.69 | | | | 1.88 | | | 0.44 | | | 0.01 | | | — | | | 0.45 | | | — | | | 10.35 | | | 20.99 | | | | 0.70 | | | 0.25 | | | 0.25 | | | 1.97 | | | 3,247 | | | 33 | |
| 12-31-22 | | | 11.97 | | | 0.18 | • | | (2.51 | ) | | | (2.33 | ) | | 0.28 | | | 0.44 | | | — | | | 0.72 | | | — | | | 8.92 | | | (19.60 | ) | | | 0.80 | | | 0.20 | | | 0.20 | | | 1.77 | | | 2,336 | | | 89 | |
| 12-31-21 | | | 11.56 | | | 0.18 | • | | 1.86 | | | | 2.04 | | | 0.46 | | | 1.17 | | | — | | | 1.63 | | | — | | | 11.97 | | | 17.64 | | | | 1.11 | | | 0.17 | | | 0.17 | | | 1.38 | | | 1,692 | | | 53 | |
| 07-29-20(6) - 12-31-20 | | | 10.00 | | | 0.12 | • | | 1.65 | | | | 1.77 | | | 0.16 | | | 0.05 | | | — | | | 0.21 | | | — | | | 11.56 | | | 17.69 | | | | 1.47 | | | 0.22 | | | 0.22 | | | 2.60 | | | 1,045 | | | 24 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.64 | | | (0.01 | )• | | 1.04 | | | | 1.03 | | | — | | | — | | | — | | | — | | | — | | | 11.67 | | | 9.68 | | | | 0.75 | | | 0.51 | | | 0.51 | | | (0.18 | ) | | 9,759 | | | 21 | |
| 12-31-23 | | | 8.90 | | | 0.17 | • | | 1.68 | | | | 1.85 | | | 0.10 | | | 0.01 | | | — | | | 0.11 | | | — | | | 10.64 | | | 20.74 | | | | 0.95 | | | 0.50 | | | 0.50 | | | 1.72 | | | 6,958 | | | 33 | |
| 12-31-22 | | | 11.95 | | | 0.17 | • | | (2.53 | ) | | | (2.36 | ) | | 0.25 | | | 0.44 | | | — | | | 0.69 | | | — | | | 8.90 | | | (19.81 | ) | | | 1.05 | | | 0.45 | | | 0.45 | | | 1.70 | | | 3,700 | | | 89 | |
| 12-31-21 | | | 11.56 | | | 0.18 | • | | 1.82 | | | | 2.00 | | | 0.44 | | | 1.17 | | | — | | | 1.61 | | | — | | | 11.95 | | | 17.30 | | | | 1.36 | | | 0.42 | | | 0.42 | | | 1.41 | | | 2,431 | | | 53 | |
| 07-29-20(6) - 12-31-20 | | | 10.00 | | | 0.13 | • | | 1.63 | | | | 1.76 | | | 0.15 | | | 0.05 | | | — | | | 0.20 | | | — | | | 11.56 | | | 17.61 | | | | 1.72 | | | 0.47 | | | 0.47 | | | 2.84 | | | 955 | | | 24 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.72 | | | (0.02 | )• | | 1.05 | | | | 1.03 | | | — | | | — | | | — | | | — | | | — | | | 11.75 | | | 9.61 | | | | 0.90 | | | 0.66 | | | 0.66 | | | (0.33 | ) | | 301 | | | 21 | |
| 12-31-23 | | | 8.90 | | | 0.15 | • | | 1.68 | | | | 1.83 | | | — | | | 0.01 | | | — | | | 0.01 | | | — | | | 10.72 | | | 20.52 | | | | 1.10 | | | 0.65 | | | 0.65 | | | 1.57 | | | 230 | | | 33 | |
| 12-31-22 | | | 11.95 | | | 0.11 | • | | (2.48 | ) | | | (2.37 | ) | | 0.24 | | | 0.44 | | | — | | | 0.68 | | | — | | | 8.90 | | | (19.89 | ) | | | 1.20 | | | 0.60 | | | 0.60 | | | 1.13 | | | 133 | | | 89 | |
| 12-31-21 | | | 11.56 | | | 0.16 | • | | 1.82 | | | | 1.98 | | | 0.42 | | | 1.17 | | | — | | | 1.59 | | | — | | | 11.95 | | | 17.11 | | | | 1.51 | | | 0.57 | | | 0.57 | | | 1.26 | | | 114 | | | 53 | |
| 07-29-20(6) - 12-31-20 | | | 10.00 | | | 0.10 | • | | 1.65 | | | | 1.75 | | | 0.14 | | | 0.05 | | | — | | | 0.19 | | | — | | | 11.56 | | | 17.52 | | | | 1.87 | | | 0.62 | | | 0.62 | | | 2.18 | | | 26 | | | 24 | |
| (1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized. |
| (2) | Annualized for periods less than one year. |
| (3) | Ratios reflect operating expenses of a Portfolio. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Portfolio during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Portfolio. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Ratios do not include expenses of underlying funds and do not include fees and expenses charged under the variable annuity contract or variable life insurance policy. |
| (5) | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds ("ETFs"). Net investment income (loss) of any underlying mutual funds or ETFs is not included in a Portfolio net investment income (loss) ratio to average net assets. |
| (6) | Commencement of operations. |
| * | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
See Accompanying Notes to Financial Statements
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited)
NOTE 1 — ORGANIZATION
Voya Partners, Inc. (the “Company”) is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). It was incorporated under the laws of Maryland on May 7, 1997. The Articles of Incorporation permit the Company to offer separate series, each of which has its own investment objective, policies and restrictions. The Company currently consists of thirty-seven active separate investment series. The fifteen series (each, a “Portfolio” and collectively, the “Portfolios”) included in this report are: Voya Solution Aggressive Portfolio (“Solution Aggressive”), Voya Solution Balanced Portfolio (“Solution Balanced”), Voya Solution Conservative Portfolio (“Solution Conservative”), Voya Solution Income Portfolio (“Solution Income”), Voya Solution Moderately Aggressive Portfolio (“Solution Moderately Aggressive”), Voya Solution Moderately Conservative Portfolio (“Solution Moderately Conservative”), Voya Solution 2025 Portfolio (“Solution 2025”), Voya Solution 2030 Portfolio (“Solution 2030”), Voya Solution 2035 Portfolio (“Solution 2035”), Voya Solution 2040 Portfolio (“Solution 2040”), Voya Solution 2045 Portfolio (“Solution 2045”), Voya Solution 2050 Portfolio (“Solution 2050”), Voya Solution 2055 Portfolio (“Solution 2055”), Voya Solution 2060 Portfolio (“Solution 2060”) and Voya Solution 2065 Portfolio (“Solution 2065”). Each Portfolio is a diversified series of the Company.
Solution 2025, Solution 2030, Solution 2035, Solution 2040, Solution 2045, Solution 2050, Solution 2055, Solution 2060 and Solution 2065 are structured and managed around a specific target retirement or financial goal date (“Target Date”). When these Portfolios reach their respective Target Date, they may be combined with Solution Income, without a vote of shareholders, if approved by the Portfolios’ Board of Directors (the “Board”).
The classes of shares included in this report are: Adviser (“Class ADV”), Initial (“Class I”), Class R6, Service (“Class S”), and Service 2 (“Class S2”); however, each Portfolio may not offer all share classes. Shares of the Portfolios may be offered to separate accounts (“Separate Accounts”) of insurance companies as investment options in connection with variable annuity contracts and variable life insurance policies (“Variable Contracts”) and to certain of the Portfolios’ investment advisers and their affiliates. In the future, shares may also be offered to qualified pension and retirement plans (“Qualified Plans”) outside the Separate Account context. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees, as well as differences in the amount of waiver of fees and reimbursement of expenses, if any. Generally, shareholders
of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/ losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between share classes. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Distributions are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if any, as well as differences in the amount of waiver of fees and reimbursement of expenses between the separate classes, if any.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Portfolios. Voya Investment Management Co. LLC (“Voya IM” or the “Sub-Adviser”), a Delaware limited liability company, serves as the Sub-Adviser to the Portfolios. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Portfolios.
Each Portfolio seeks to achieve its investment objective by investing in other investment companies (“Underlying Funds”) and uses asset allocation strategies to determine how much to invest in the Underlying Funds. The investment objective of the Portfolios is described in the respective Portfolio’s Prospectus.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Portfolios are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.
The following significant accounting policies are consistently followed by the Portfolios in the preparation of their financial statements. Each Portfolio is considered an investment company under U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.
A. Security Valuation. Each Portfolio is open for business every day the New York Stock Exchange (“NYSE”) opens for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each class of each Portfolio is determined each Business Day as of the
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
close of the regular trading session (“Market Close”), as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each class of each Portfolio is calculated by taking the value of the Portfolio’s assets attributable to that class, subtracting the Portfolio’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Portfolio is closed for business, Portfolio shares will not be priced and a Portfolio does not transact purchase and redemption orders. To the extent a Portfolio’s assets are traded in other markets on days when a Portfolio does not price its shares, the value of a Portfolio’s assets will likely change and you will not be able to purchase or redeem shares of a Portfolio.
Portfolio securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered investment companies in which each Portfolio may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Foreign securities’ prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close.
When a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been halted or there are unexpected market closures or other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of other Portfolio assets, the asset is priced at its fair value. The Board has designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of each Portfolio’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Portfolio’s sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of an asset’s fair value. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent pricing service that are intended to reflect valuation changes through the NYSE close. Because of the inherent uncertainties of fair valuation, the values used to determine each Portfolio’s NAV may materially differ from
the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Portfolio.
The Portfolios’ financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:
Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the portfolio can access at the reporting date.
Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).
Level 3 – unobservable inputs (including the portfolio’s own assumptions in determining fair value).
Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.
A table summarizing each Portfolio’s investments under these levels of classification is included within each Portfolio of Investments.
Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. The Portfolios classify each of their investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments held by the Underlying Funds. A table summarizing each Portfolio’s investments under these levels of classification is included within the Portfolio of Investments.
GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Portfolio has a significant amount of Level 3 investments.
B. Securities Transactions and Revenue Recognition. Securities transactions are accounted for on the trade date. Dividend income received from the Underlying Funds is recognized on the ex-dividend date and is recorded as dividends from underlying funds in the Statements of Operations. Capital gain distributions received from the Underlying Funds are recognized on the ex-dividend date and are recorded on the Statements of Operations as such. Realized gains and losses are reported on the basis of identified cost of securities sold.
C. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. Each Portfolio declares and pays dividends from net investment income and capital gain distributions, if any, annually. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.
D. Federal Income Taxes. It is the policy of each Portfolio to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required. Management has considered the sustainability of the Portfolios’ tax positions
taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.
The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
E. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
F. Risk Exposures and the Use of Derivative Instruments. Each Portfolio’s investment strategies permit it to enter into various types of derivatives contracts, including, but not limited to, futures contracts. In doing so, a Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow a Portfolio to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.
In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:
Equity Risk. Stock prices may be volatile or have reduced liquidity in response to real or perceived impacts of factors including, but not limited to, economic conditions, changes in market interest rates, and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Portfolio to achieve its investment objectives.
Risks of Investing in Derivatives. Each Portfolio’s use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where a Portfolio is using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Portfolio, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Portfolio. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Portfolio and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Portfolio may not realize the intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.
Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated over-the-counter ("OTC"), with a single counterparty and as a result are subject to credit risks related to the counterparty’s ability or willingness to perform its obligations; any deterioration in the counterparty’s creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Portfolio to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market’s movements and may have unexpected or undesired results such as a loss or a reduction in gains.
G. Futures Contracts. Certain Portfolios may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date. A Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when each Portfolio’s assets are valued.
Upon entering into a futures contract, a Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by a Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses and, if any, shown as variation margin receivable or payable on futures contracts on the Statement of Assets and Liabilities. Open futures contracts are reported on a table following each Portfolio’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts, if any, are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in the Statements of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the Statements of Operations. Realized gains (losses) are reported in the Statements of Operations at the closing or expiration of futures contracts.
During the period ended June 30, 2024, there were no futures contracts entered into by Portfolio.
H. Indemnifications. In the normal course of business, the Company may enter into contracts that provide certain indemnifications. The Company’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.
NOTE 3 — INVESTMENT IN UNDERLYING FUNDS
For the period ended June 30, 2024, the cost of purchases and the proceeds from sales of the Underlying Funds were as follows:
| | | Purchases | | | Sales | |
| Solution Aggressive | | $ | 9,589,777 | | | $ | 9,804,663 | |
| Solution Balanced | | | 10,448,675 | | | | 8,621,572 | |
| Solution Conservative | | | 2,392,322 | | | | 3,234,901 | |
| Solution Income | | | 36,212,174 | | | | 50,122,190 | |
| Solution Moderately Aggressive | | | 76,396,517 | | | | 105,833,103 | |
| Solution Moderately Conservative | | | 7,700,061 | | | | 8,110,538 | |
| Solution 2025 | | | 98,387,303 | | | | 135,432,202 | |
| Solution 2030 | | | 15,512,328 | | | | 16,139,973 | |
| Solution 2035 | | | 111,150,703 | | | | 132,779,339 | |
| Solution 2040 | | | 12,273,866 | | | | 9,953,166 | |
| Solution 2045 | | | 78,289,831 | | | | 102,689,839 | |
| Solution 2050 | | | 11,288,040 | | | | 9,426,511 | |
| Solution 2055 | | | 35,628,989 | | | | 37,787,612 | |
| Solution 2060 | | | 8,655,827 | | | | 7,507,548 | |
| Solution 2065 | | | 6,443,488 | | | | 3,412,554 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 4 — INVESTMENT MANAGEMENT FEES
The Portfolios have entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Portfolios. The Investment Adviser oversees all investment management and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates: 0.20% of each Portfolio’s average daily nets assets invested in affiliated Underlying Funds and 0.40% of each Portfolio’s average daily net assets invested in unaffiliated Underlying Funds and/or other direct investments.
The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Portfolio. Voya IM provides investment advice for the Portfolios and is paid by the Investment Adviser based on the average daily net assets of each respective Portfolio. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Portfolios’ assets in accordance with the Portfolios’ investment objectives, policies, and limitations.
NOTE 5 — DISTRIBUTION AND SERVICE FEES
Classes ADV and S2 of the respective Portfolios have a plan of distribution (each a “Plan” and collectively, the “Plans”), whereby the Distributor is reimbursed or compensated by the Portfolios for expenses incurred in the distribution of each Portfolio’s shares. The Distributor may pay, on behalf of each Portfolio, out of its distribution fee, compensation to certain financial institutions for providing distribution assistance pursuant to a Distribution Services Agreement. Under the Plans, each Portfolio makes payments to the Distributor at an annual rate of 0.25% of each Portfolio’s average daily net assets attributable to its Class ADV shares and each Portfolio makes payments to the Distributor at an annual rate of 0.15% of each Portfolio’s average daily net assets attributable to its Class S2 shares.
The Company has a shareholder servicing plan (“Service Plan”) for the Classes ADV, S, and S2 shares of each respective Portfolio. The Service Plan allows the Distributor to enter into shareholder servicing agreements with insurance companies, broker dealers or other financial intermediaries that provide administrative services related to Classes ADV, S, and S2 shares and their shareholders including Variable Contract owners or Qualified Plan
participants with interests in the Portfolios. Under the Service Plan, each Portfolio makes payments to the Distributor which shall not exceed an annual rate of 0.25% of each applicable Portfolio’s average daily net assets attributable to its Classes ADV, S, and S2 shares.
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
During the period ended June 30, 2024, Solution Moderately Conservative incurred $54,200 of shareholder notification costs associated with the Portfolio’s merger with and into Voya Solution Conservative Portfolio (which is not included in this report).The Investment Adviser or an affiliate reimbursed the Portfolio for these costs.
At June 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the following Portfolios:
| Subsidiary | | Portfolio | | Percentage |
| | | | | | |
| Voya Institutional Trust Company | | Solution | | | |
| | | Aggressive | | 5.75 | % |
| | | Solution Balanced | | 10.62 | |
| | | Solution Conservative | | 6.93 | |
| | | Solution Income | | 43.15 | |
| | | Solution 2025 | | 28.18 | |
| | | Solution 2030 | | 16.61 | |
| | | Solution 2035 | | 23.08 | |
| | | Solution 2040 | | 7.82 | |
| | | Solution 2045 | | 20.60 | |
| | | Solution 2050 | | 11.39 | |
| | | Solution 2055 | | 15.02 | |
| | | Solution 2060 | | 10.22 | |
| | | Solution 2065 | | 8.40 | |
| Voya Investment Management Co. LLC | | Solution 2065 | | 15.93 | |
| Voya Retirement Insurance and Annuity Company | | Solution Aggressive | | 94.25 | |
| | | Solution Balanced | | 89.38 | |
| | | Solution Conservative | | 93.07 | |
| | | Solution Income | | 50.82 | |
| | | Solution Moderately Aggressive | | 9.51 | |
| | | Solution Moderately | | | |
| | | Conservative | | 98.33 | |
| | | Solution 2025 | | 68.20 | |
| | | Solution 2030 | | 83.39 | |
| | | Solution 2035 | | 73.95 | |
| | | Solution 2040 | | 92.18 | |
| | | Solution 2045 | | 78.01 | |
| | | Solution 2050 | | 88.61 | |
| | | Solution 2055 | | 84.98 | |
| | | Solution 2060 | | 89.78 | |
| | | Solution 2065 | | 75.68 | |
The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors, as described in the DC Plan, to defer the receipt
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)
of all or a portion of the directors’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director (the “Notional Funds”). When the Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’ deferred fees, this results in a Portfolio asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’ fees under the DC Plan will not affect net assets of the Portfolios, and will not materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Portfolios may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended June 30, 2024, the per account fees for affiliated recordkeeping services paid by each Portfolio were as follows:
| Portfolio | | Amount | |
| Solution Aggressive | | | $ 8,032 | |
| Solution Balanced | | | 9,447 | |
| Solution Conservative | | | 2,257 | |
| Solution Income | | | 47,436 | |
| Solution Moderately Aggressive | | | 14,859 | |
| Solution Moderately Conservative | | | 9,002 | |
| Solution 2025 | | | 93,073 | |
| Solution 2030 | | | 13,329 | |
| Solution 2035 | | | 168,523 | |
| Solution 2040 | | | 20,981 | |
| Solution 2045 | | | 169,454 | |
| Solution 2050 | | | 29,104 | |
| Solution 2055 | | | 92,619 | |
| Solution 2060 | | | 32,792 | |
| Solution 2065 | | | 13,675 | |
NOTE 7 —EXPENSE LIMITATION AGREEMENTS
The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with the following Portfolios, whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses, to the levels listed below:
| Portfolio(1) | | Class
ADV | | Class
I | | Class
R6 | | Class
S | | Class
S2 |
| Solution Aggressive | | 1.39 | % | | 0.89 | % | | 0.89 | % | | 1.14 | % | | 1.29 | % |
| Solution Balanced | | 1.30 | % | | 0.80 | % | | 0.80 | % | | 1.05 | % | | 1.20 | % |
| Solution Conservative | | 1.16 | % | | 0.66 | % | | 0.66 | % | | 0.91 | % | | 1.06 | % |
| Solution Income | | 1.18 | % | | 0.68 | % | | N/A | | | 0.93 | % | | 1.08 | % |
| Solution Moderately Aggressive | | 1.38 | % | | 0.88 | % | | 0.88 | % | | 1.13 | % | | 1.28 | % |
| Portfolio(1) | | Class
ADV | | Class
I | | Class
R6 | | Class
S | | Class
S2 |
| Solution Moderately Conservative | | 1.24 | % | | 0.74 | % | | 0.74 | % | | 0.99 | % | | 1.14 | % |
| Solution 2025 | | 1.28 | % | | 0.78 | % | | N/A | | | 1.03 | % | | 1.18 | % |
| Solution 2030 | | 1.29 | % | | 0.79 | % | | N/A | | | 1.04 | % | | 1.19 | % |
| Solution 2035 | | 1.33 | % | | 0.83 | % | | N/A | | | 1.08 | % | | 1.23 | % |
| Solution 2040 | | 1.33 | % | | 0.83 | % | | N/A | | | 1.08 | % | | 1.23 | % |
| Solution 2045 | | 1.36 | % | | 0.86 | % | | N/A | | | 1.11 | % | | 1.26 | % |
| Solution 2050 | | 1.36 | % | | 0.86 | % | | N/A | | | 1.11 | % | | 1.26 | % |
| Solution 2055 | | 1.36 | % | | 0.86 | % | | N/A | | | 1.11 | % | | 1.26 | % |
| Solution 2060 | | 1.37 | % | | 0.87 | % | | N/A | | | 1.12 | % | | 1.27 | % |
| Solution 2065 | | 1.37 | % | | 0.87 | % | | N/A | | | 1.12 | % | | 1.27 | % |
Pursuant to a side letter agreement, through May 1, 2025, the Investment Adviser has further lowered the expense limits for the following Portfolios. If the Investment Adviser elects not to renew the side letter agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side letter agreements will continue. Termination or modification of this obligation requires approval by the Board.
| Portfolio(1)(2) | | | | | Class
ADV | | Class
I | | Class
S | | Class
S2 |
| Solution 2025 | | | | | 1.22 | % | | 0.72 | % | | 0.97 | % | | 1.12 | % |
| Solution 2030 | | | | | 1.22 | % | | 0.72 | % | | 0.97 | % | | 1.12 | % |
| Solution 2035 | | | | | 1.23 | % | | 0.73 | % | | 0.98 | % | | 1.13 | % |
| Solution 2040 | | | | | 1.23 | % | | 0.73 | % | | 0.98 | % | | 1.13 | % |
| Solution 2045 | | | | | 1.25 | % | | 0.75 | % | | 1.00 | % | | 1.15 | % |
| Solution 2050 | | | | | 1.26 | % | | 0.76 | % | | 1.01 | % | | 1.16 | % |
| Solution 2055 | | | | | 1.28 | % | | 0.78 | % | | 1.03 | % | | 1.18 | % |
| Solution 2060 | | | | | 1.28 | % | | 0.78 | % | | 1.03 | % | | 1.18 | % |
| Solution 2065 | | | | | 1.28 | % | | 0.78 | % | | 1.03 | % | | 1.18 | % |
| (1) | The operating expense limits take into account the operating expenses incurred at the Underlying Fund level. The amount of fees and expenses of an Underlying Fund borne by each Portfolio will vary based on each Portfolio’s allocation of assets to, and the net expenses of, a particular Underlying Fund. |
| (2) | Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. |
Unless otherwise specified above and with the exception of the non-recoupable management fee waivers for certain Portfolios, the Investment Adviser may, at a later date, recoup from a Portfolio for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, a Portfolio’s expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.
As of June 30, 2024, the amounts of waived and/or reimbursed fees that are subject to possible recoupment
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 7 —EXPENSE LIMITATION AGREEMENTS (continued)
by the Investment Adviser and the related expiration dates are as follows:
| | | June 30, | | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Solution Aggressive | | $ | 382 | | | $ | — | | | $ | — | | | $ | 382 | |
| Solution Conservative | | | 26,494 | | | | 21,292 | | | | 22,849 | | | | 70,635 | |
| Solution Income | | | 208,091 | | | | 52,086 | | | | 7,498 | | | | 267,675 | |
| Solution Moderately Conservative | | | 21,685 | | | | 7,669 | | | | 68,185 | | | | 97,539 | |
In addition to the above waived and/or reimbursed fees, the amount of class specific fees waived or reimbursed that are subject to possible recoupment by the Investment Adviser, and the related expiration dates, as of June 30, 2024, are as follows:
| | | June 30, | | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Solution Aggressive | | | | | | | | | | | | | | | | |
| Class ADV | | $ | 3,091 | | | $ | 3,445 | | | $ | 4,671 | | | $ | 11,207 | |
| Class I | | | 408 | | | | 972 | | | | 1,805 | | | | 3,185 | |
| Class S | | | 2,940 | | | | 2,770 | | | | 2,494 | | | | 8,204 | |
| Class S2 | | | 1,064 | | | | 1,467 | | | | 2,461 | | | | 4,992 | |
| Solution Balanced | | | | | | | | | | | | | | | | |
| Class ADV | | $ | 2,544 | | | $ | — | | | $ | — | | | $ | 2,544 | |
NOTE 8 — LINE OF CREDIT
Effective June 10, 2024, the Portfolios, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York Mellon (“BNY”) for an aggregate amount of $400,000,000 through June 9, 2025. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Portfolio or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2024, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.
| | | June 30, | | | | | |
| | | 2025 | | | 2026 | | | 2027 | | | Total | |
| Class I | | | 860 | | | | — | | | | — | | | | 860 | |
| Class S | | | 5,859 | | | | — | | | | — | | | | 5,859 | |
| Class S2 | | | 383 | | | | — | | | | — | | | | 383 | |
| Solution Conservative | | | | | | | | | | | | | | | | |
| Class ADV | | $ | 3,300 | | | $ | 2,634 | | | $ | 2,367 | | | $ | 8,301 | |
| Class I | | | 405 | | | | 269 | | | | 397 | | | | 1,071 | |
| Class R6 | | | — | | | | — | | | | 220 | | | | 220 | |
| Class S | | | 1,901 | | | | 1,472 | | | | 1,438 | | | | 4,811 | |
| Class S2 | | | 1,011 | | | | 834 | | | | 584 | | | | 2,429 | |
| Solution Income | | | | | | | | | | | | | | | | |
| Class ADV | | $ | — | | | $ | 23,332 | | | $ | 48,222 | | | $ | 71,554 | |
| Class I | | | — | | | | 5,894 | | | | 9,109 | | | | 15,003 | |
| Class S | | | — | | | | 16,351 | | | | 32,271 | | | | 48,622 | |
| Class S2 | | | — | | | | 741 | | | | 1,516 | | | | 2,257 | |
| Solution Moderately Conservative | | | | | | | | | | | | | | | | |
| Class ADV | | $ | 4,820 | | | $ | 3,683 | | | $ | 3,732 | | | $ | 12,235 | |
| Class I | | | 139 | | | | 232 | | | | 172 | | | | 543 | |
| Class R6 | | | — | | | | — | | | | 36 | | | | 36 | |
| Class S | | | 16,472 | | | | 11,881 | | | | 15,067 | | | | 43,420 | |
| Class S2 | | | 3,763 | | | | 2,410 | | | | 1,517 | | | | 7,690 | |
The Expense Limitation Agreement is contractual through May 1, 2025, except for Solution Aggressive, Solution Balanced, Solution Conservative, and Solution Moderately Conservative are through May 1, 2026 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.
The below Portfolios utilized the line of credit during the period ended June 30, 2024 as follows:
| Portfolio | | Days
Utilized | | Approximate
Average
Daily Balance
For Days
Utilized | | Approximate
Weighted
Average
Interest Rate
For Days
Utilized | |
| Solution Aggressive | | 5 | | $ | 1,273,000 | | 6.33% | |
| Solution Balanced | | 5 | | | 1,521,000 | | 6.33 | |
| Solution Income | | 5 | | | 3,137,400 | | 6.33 | |
| Solution Moderately Aggressive | | 5 | | | 16,732,000 | | 6.33 | |
| Solution Moderately Conservative | | 5 | | | 698,000 | | 6.33 | |
| Solution 2025 | | 5 | | | 20,032,000 | | 6.33 | |
| Solution 2030 | | 5 | | | 3,281,200 | | 6.33 | |
| Solution 2035 | | 5 | | | 40,138,200 | | 6.33 | |
| Solution 2040 | | 5 | | | 3,447,200 | | 6.33 | |
| Solution 2045 | | 5 | | | 39,599,400 | | 6.33 | |
| Solution 2050 | | 5 | | | 3,264,200 | | 6.33 | |
| Solution 2055 | | 5 | | | 14,852,800 | | 6.33 | |
| Solution 2060 | | 5 | | | 2,738,400 | | 6.33 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
| | | Shares
sold | | | Shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) in
shares
outstanding | | | Shares
sold | | | Proceeds
from
shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) | |
Year or
period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Solution Aggressive | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 27,833 | | | | — | | | | — | | | | (32,832 | ) | | | — | | | | (4,999 | ) | | | 360,556 | | | | — | | | | — | | | | (420,998 | ) | | | — | | | | (60,442 | ) |
| 12/31/2023 | | | 61,776 | | | | — | | | | 17,068 | | | | (121,649 | ) | | | — | | | | (42,805 | ) | | | 725,019 | | | | — | | | | 200,039 | | | | (1,415,330 | ) | | | — | | | | (490,272 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 15,797 | | | | — | | | | — | | | | (10,731 | ) | | | — | | | | 5,066 | | | | 207,733 | | | | — | | | | — | | | | (145,428 | ) | | | — | | | | 62,305 | |
| 12/31/2023 | | | 34,410 | | | | — | | | | 7,139 | | | | (19,354 | ) | | | — | | | | 22,195 | | | | 436,817 | | | | — | | | | 86,455 | | | | (233,852 | ) | | | — | | | | 289,420 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 232,563 | | | | — | | | | — | | | | (264,219 | ) | | | — | | | | (31,656 | ) | | | 3,185,966 | | | | — | | | | — | | | | (3,535,710 | ) | | | — | | | | (349,744 | ) |
| 12/31/2023 | | | 399,568 | | | | — | | | | 130,778 | | | | (259,854 | ) | | | — | | | | 270,492 | | | | 4,835,782 | | | | — | | | | 1,585,031 | | | | (3,158,078 | ) | | | — | | | | 3,262,735 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 9,836 | | | | — | | | | — | | | | (8,867 | ) | | | — | | | | 969 | | | | 129,859 | | | | — | | | | — | | | | (115,818 | ) | | | — | | | | 14,041 | |
| 12/31/2023 | | | 35,699 | | | | — | | | | 9,371 | | | | (146,292 | ) | | | — | | | | (101,222 | ) | | | 427,683 | | | | — | | | | 111,986 | | | | (1,709,065 | ) | | | — | | | | (1,169,396 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 10,668 | | | | — | | | | — | | | | (13,000 | ) | | | — | | | | (2,332 | ) | | | 136,519 | | | | — | | | | — | | | | (164,290 | ) | | | — | | | | (27,771 | ) |
| 12/31/2023 | | | 45,490 | | | | — | | | | 9,789 | | | | (28,668 | ) | | | — | | | | 26,611 | | | | 522,416 | | | | — | | | | 113,552 | | | | (331,948 | ) | | | — | | | | 304,020 | |
| Solution Balanced | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 45,699 | | | | — | | | | — | | | | (114,319 | ) | | | — | | | | (68,620 | ) | | | 392,249 | | | | — | | | | — | | | | (975,927 | ) | | | — | | | | (583,678 | ) |
| 12/31/2023 | | | 94,461 | | | | — | | | | 108,047 | | | | (248,116 | ) | | | — | | | | (45,608 | ) | | | 776,339 | | | | — | | | | 852,489 | | | | (2,062,351 | ) | | | — | | | | (433,523 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 123,569 | | | | — | | | | — | | | | (42,989 | ) | | | — | | | | 80,580 | | | | 1,095,151 | | | | — | | | | — | | | | (388,726 | ) | | | — | | | | 706,425 | |
| 12/31/2023 | | | 35,317 | | | | — | | | | 48,589 | | | | (76,704 | ) | | | — | | | | 7,202 | | | | 306,271 | | | | — | | | | 404,261 | | | | (663,141 | ) | | | — | | | | 47,391 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 356,400 | | | | — | | | | — | | | | (186,683 | ) | | | — | | | | 169,717 | | | | 3,246,875 | | | | — | | | | — | | | | (1,695,413 | ) | | | — | | | | 1,551,462 | |
| 12/31/2023 | | | 397,843 | | | | — | | | | 249,880 | | | | (530,977 | ) | | | — | | | | 116,746 | | | | 3,440,886 | | | | — | | | | 2,079,000 | | | | (4,597,073 | ) | | | — | | | | 922,813 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 118,970 | | | | — | | | | — | | | | (142,932 | ) | | | — | | | | (23,962 | ) | | | 1,041,885 | | | | — | | | | — | | | | (1,239,680 | ) | | | — | | | | (197,795 | ) |
| 12/31/2023 | | | 198,142 | | | | — | | | | 185,387 | | | | (553,427 | ) | | | — | | | | (169,898 | ) | | | 1,653,186 | | | | — | | | | 1,486,807 | | | | (4,594,337 | ) | | | — | | | | (1,454,344 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 12,991 | | | | — | | | | — | | | | (6,175 | ) | | | — | | | | 6,816 | | | | 114,065 | | | | — | | | | — | | | | (52,697 | ) | | | — | | | | 61,368 | |
| 12/31/2023 | | | 10,179 | | | | — | | | | 13,104 | | | | (23,778 | ) | | | — | | | | (495 | ) | | | 85,246 | | | | — | | | | 104,960 | | | | (203,660 | ) | | | — | | | | (13,454 | ) |
| Solution Conservative | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 11,334 | | | | — | | | | — | | | | (90,392 | ) | | | — | | | | (79,058 | ) | | | 108,884 | | | | — | | | | — | | | | (882,405 | ) | | | — | | | | (773,521 | ) |
| 12/31/2023 | | | 46,836 | | | | — | | | | 12,957 | | | | (141,501 | ) | | | — | | | | (81,708 | ) | | | 439,956 | | | | — | | | | 118,557 | | | | (1,327,887 | ) | | | — | | | | (769,374 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 28,794 | | | | — | | | | — | | | | (14,723 | ) | | | — | | | | 14,071 | | | | 281,025 | | | | — | | | | — | | | | (143,467 | ) | | | — | | | | 137,558 | |
| 12/31/2023 | | | 13,213 | | | | — | | | | 2,114 | | | | (13,994 | ) | | | — | | | | 1,333 | | | | 126,105 | | | | — | | | | 19,487 | | | | (132,134 | ) | | | — | | | | 13,458 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 49,781 | | | | — | | | | — | | | | (109,555 | ) | | | — | | | | (59,774 | ) | | | 483,268 | | | | — | | | | — | | | | (1,071,458 | ) | | | — | | | | (588,190 | ) |
| 12/31/2023 | | | 353,557 | | | | — | | | | 43,423 | | | | (887,822 | ) | | | — | | | | (490,842 | ) | | | 3,396,005 | | | | — | | | | 399,928 | | | | (8,392,193 | ) | | | — | | | | (4,596,260 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 8,532 | | | | — | | | | — | | | | (5,958 | ) | | | — | | | | 2,574 | | | | 82,511 | | | | — | | | | — | | | | (58,828 | ) | | | — | | | | 23,683 | |
| 12/31/2023 | | | 35,637 | | | | — | | | | 8,731 | | | | (65,599 | ) | | | — | | | | (21,231 | ) | | | 336,508 | | | | — | | | | 80,147 | | | | (620,683 | ) | | | — | | | | (204,028 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 22,037 | | | | — | | | | — | | | | (84 | ) | | | — | | | | 21,953 | | | | 214,194 | | | | — | | | | — | | | | (797 | ) | | | — | | | | 213,397 | |
| 12/31/2023 | | | 6,406 | | | | — | | | | 2,879 | | | | (75,966 | ) | | | — | | | | (66,681 | ) | | | 59,368 | | | | — | | | | 26,086 | | | | (713,059 | ) | | | — | | | | (627,605 | ) |
| Solution Income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 133,060 | | | | — | | | | — | | | | (771,895 | ) | | | — | | | | (638,835 | ) | | | 1,325,331 | | | | — | | | | — | | | | (7,669,121 | ) | | | — | | | | (6,343,790 | ) |
| 12/31/2023 | | | 418,522 | | | | — | | | | 391,239 | | | | (2,133,441 | ) | | | — | | | | (1,323,680 | ) | | | 3,998,557 | | | | — | | | | 3,685,467 | | | | (20,389,121 | ) | | | — | | | | (12,705,097 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 71,149 | | | | — | | | | — | | | | (528,340 | ) | | | — | | | | (457,191 | ) | | | 731,090 | | | | — | | | | — | | | | (5,413,034 | ) | | | — | | | | (4,681,944 | ) |
| 12/31/2023 | | | 154,500 | | | | — | | | | 97,591 | | | | (1,296,804 | ) | | | — | | | | (1,044,713 | ) | | | 1,533,977 | | | | — | | | | 945,653 | | | | (12,713,802 | ) | | | — | | | | (10,234,172 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 148,778 | | | | — | | | | — | | | | (550,027 | ) | | | — | | | | (401,249 | ) | | | 1,514,842 | | | | — | | | | — | | | | (5,595,054 | ) | | | — | | | | (4,080,212 | ) |
| 12/31/2023 | | | 231,645 | | | | — | | | | 274,005 | | | | (1,703,490 | ) | | | — | | | | (1,197,840 | ) | | | 2,270,151 | | | | — | | | | 2,633,188 | | | | (16,634,137 | ) | | | — | | | | (11,730,798 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 7,466 | | | | — | | | | — | | | | (44,553 | ) | | | — | | | | (37,087 | ) | | | 73,791 | | | | — | | | | — | | | | (436,396 | ) | | | — | | | | (362,605 | ) |
| 12/31/2023 | | | 17,293 | | | | — | | | | 13,323 | | | | (65,794 | ) | | | — | | | | (35,178 | ) | | | 163,776 | | | | — | | | | 124,036 | | | | (613,703 | ) | | | — | | | | (325,891 | ) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | | Shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) in
shares
outstanding | | | Shares
sold | | | Proceeds
from
shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) | |
Year or
period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Solution Income (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 175 | | | | — | | | | — | | | | (6,681 | ) | | | — | | | | (6,506 | ) | | | 1,916 | | | | — | | | | — | | | | (73,284 | ) | | | — | | | | (71,368 | ) |
| 12/31/2023 | | | 114 | | | | — | | | | 185 | | | | — | | | | — | | | | 299 | | | | 1,200 | | | | — | | | | 1,930 | | | | — | | | | — | | | | 3,130 | |
| Solution Moderately Aggressive | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 135,761 | | | | — | | | | — | | | | (131,585 | ) | | | — | | | | 4,176 | | | | 1,534,967 | | | | — | | | | — | | | | (1,498,240 | ) | | | — | | | | 36,727 | |
| 12/31/2023 | | | 180,381 | | | | — | | | | 173,054 | | | | (389,966 | ) | | | — | | | | (36,531 | ) | | | 1,904,637 | | | | — | | | | 1,778,994 | | | | (4,139,110 | ) | | | — | | | | (455,479 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 131,353 | | | | — | | | | — | | | | (28,944 | ) | | | — | | | | 102,409 | | | | 1,511,916 | | | | — | | | | — | | | | (335,654 | ) | | | — | | | | 1,176,262 | |
| 12/31/2023 | | | 73,478 | | | | — | | | | 42,438 | | | | (38,451 | ) | | | — | | | | 77,465 | | | | 781,702 | | | | — | | | | 448,994 | | | | (419,214 | ) | | | — | | | | 811,482 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 204,221 | | | | — | | | | — | | | | (416,459 | ) | | | — | | | | (212,238 | ) | | | 2,362,791 | | | | — | | | | — | | | | (4,839,762 | ) | | | — | | | | (2,476,971 | ) |
| 12/31/2023 | | | 466,594 | | | | — | | | | 244,660 | | | | (411,827 | ) | | | — | | | | 299,427 | | | | 4,997,644 | | | | — | | | | 2,586,052 | | | | (4,483,310 | ) | | | — | | | | 3,100,386 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 60,151 | | | | — | | | | — | | | | (2,724,367 | ) | | | — | | | | (2,664,216 | ) | | | 686,958 | | | | — | | | | — | | | | (31,237,263 | ) | | | — | | | | (30,550,305 | ) |
| 12/31/2023 | | | 421,208 | | | | — | | | | 3,471,188 | | | | (5,733,053 | ) | | | — | | | | (1,840,657 | ) | | | 4,504,799 | | | | — | | | | 36,169,779 | | | | (61,101,412 | ) | | | — | | | | (20,426,834 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 9,286 | | | | — | | | | — | | | | (5,878 | ) | | | — | | | | 3,408 | | | | 106,842 | | | | — | | | | — | | | | (66,978 | ) | | | — | | | | 39,864 | |
| 12/31/2023 | | | 23,497 | | | | — | | | | 9,953 | | | | (12,075 | ) | | | — | | | | 21,375 | | | | 251,800 | | | | — | | | | 104,004 | | | | (128,119 | ) | | | — | | | | 227,685 | |
| Solution Moderately Conservative | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 16,809 | | | | — | | | | — | | | | (27,438 | ) | | | — | | | | (10,629 | ) | | | 146,141 | | | | — | | | | — | | | | (236,294 | ) | | | — | | | | (90,153 | ) |
| 12/31/2023 | | | 30,938 | | | | — | | | | 27,273 | | | | (312,163 | ) | | | — | | | | (253,952 | ) | | | 260,289 | | | | — | | | | 223,370 | | | | (2,632,843 | ) | | | — | | | | (2,149,184 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 5,768 | | | | — | | | | — | | | | (1,020 | ) | | | — | | | | 4,748 | | | | 52,861 | | | | — | | | | — | | | | (9,387 | ) | | | — | | | | 43,474 | |
| 12/31/2023 | | | 15,092 | | | | — | | | | 1,276 | | | | (6,324 | ) | | | — | | | | 10,044 | | | | 127,398 | | | | — | | | | 11,003 | | | | (56,089 | ) | | | — | | | | 82,312 | |
| Class R6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 93,103 | | | | — | | | | — | | | | (131,488 | ) | | | — | | | | (38,385 | ) | | | 857,683 | | | | — | | | | — | | | | (1,208,378 | ) | | | — | | | | (350,695 | ) |
| 12/31/2023 | | | 230,164 | | | | — | | | | 78,787 | | | | (264,248 | ) | | | — | | | | 44,703 | | | | 2,058,433 | | | | — | | | | 679,142 | | | | (2,325,663 | ) | | | — | | | | 411,912 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 67,132 | | | | — | | | | — | | | | (80,281 | ) | | | — | | | | (13,149 | ) | | | 598,944 | | | | — | | | | — | | | | (717,113 | ) | | | — | | | | (118,169 | ) |
| 12/31/2023 | | | 169,265 | | | | — | | | | 110,796 | | | | (418,839 | ) | | | — | | | | (138,778 | ) | | | 1,447,025 | | | | — | | | | 927,362 | | | | (3,572,995 | ) | | | — | | | | (1,198,608 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 4,364 | | | | — | | | | — | | | | (29,037 | ) | | | — | | | | (24,673 | ) | | | 38,616 | | | | — | | | | — | | | | (255,794 | ) | | | — | | | | (217,178 | ) |
| 12/31/2023 | | | 13,442 | | | | — | | | | 9,080 | | | | (321,987 | ) | | | — | | | | (299,465 | ) | | | 113,177 | | | | — | | | | 74,909 | | | | (2,766,190 | ) | | | — | | | | (2,578,104 | ) |
| Solution 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 466,343 | | | | — | | | | — | | | | (1,893,359 | ) | | | — | | | | (1,427,016 | ) | | | 4,282,738 | | | | — | | | | — | | | | (17,455,517 | ) | | | — | | | | (13,172,779 | ) |
| 12/31/2023 | | | 979,122 | | | | — | | | | 833,218 | | | | (3,697,291 | ) | | | — | | | | (1,884,951 | ) | | | 8,473,663 | | | | — | | | | 7,140,676 | | | | (32,043,126 | ) | | | — | | | | (16,428,787 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 340,332 | | | | — | | | | — | | | | (1,620,964 | ) | | | — | | | | (1,280,632 | ) | | | 3,244,810 | | | | — | | | | — | | | | (15,426,909 | ) | | | — | | | | (12,182,099 | ) |
| 12/31/2023 | | | 423,734 | | | | — | | | | 181,388 | | | | (2,547,540 | ) | | | — | | | | (1,942,418 | ) | | | 3,804,032 | | | | — | | | | 1,617,979 | | | | (22,964,760 | ) | | | — | | | | (17,542,749 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 362,778 | | | | — | | | | — | | | | (1,906,539 | ) | | | — | | | | (1,543,761 | ) | | | 3,420,120 | | | | — | | | | — | | | | (17,938,877 | ) | | | — | | | | (14,518,757 | ) |
| 12/31/2023 | | | 904,867 | | | | — | | | | 1,160,032 | | | | (4,370,015 | ) | | | — | | | | (2,305,116 | ) | | | 8,044,711 | | | | — | | | | 10,161,877 | | | | (38,677,936 | ) | | | — | | | | (20,471,348 | ) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 52,312 | | | | — | | | | — | | | | (94,301 | ) | | | — | | | | (41,989 | ) | | | 471,463 | | | | — | | | | — | | | | (843,081 | ) | | | — | | | | (371,618 | ) |
| 12/31/2023 | | | 62,233 | | | | — | | | | 37,184 | | | | (171,281 | ) | | | — | | | | (71,864 | ) | | | 528,683 | | | | — | | | | 312,719 | | | | (1,449,537 | ) | | | — | | | | (608,135 | ) |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (30,078 | ) | | | — | | | | (30,078 | ) | | | — | | | | — | | | | — | | | | (299,041 | ) | | | — | | | | (299,041 | ) |
| 12/31/2023 | | | — | | | | — | | | | 1,129 | | | | (1,131 | ) | | | — | | | | (2 | ) | | | — | | | | — | | | | 10,507 | | | | (10,620 | ) | | | — | | | | (113 | ) |
| Solution 2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 120,897 | | | | — | | | | — | | | | (208,194 | ) | | | — | | | | (87,297 | ) | | | 1,634,074 | | | | — | | | | — | | | | (2,801,747 | ) | | | — | | | | (1,167,673 | ) |
| 12/31/2023 | | | 450,018 | | | | — | | | | 74,204 | | | | (511,608 | ) | | | — | | | | 12,614 | | | | 5,692,229 | | | | — | | | | 929,776 | | | | (6,435,999 | ) | | | — | | | | 186,006 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 125,983 | | | | — | | | | — | | | | (302,151 | ) | | | — | | | | (176,168 | ) | | | 1,786,237 | | | | — | | | | — | | | | (4,205,446 | ) | | | — | | | | (2,419,209 | ) |
| 12/31/2023 | | | 273,578 | | | | — | | | | 27,795 | | | | (335,622 | ) | | | — | | | | (34,249 | ) | | | 3,577,144 | | | | — | | | | 363,281 | | | | (4,352,159 | ) | | | — | | | | (411,734 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 306,710 | | | | — | | | | — | | | | (121,668 | ) | | | — | | | | 185,042 | | | | 4,263,253 | | | | — | | | | — | | | | (1,732,624 | ) | | | — | | | | 2,530,629 | |
| 12/31/2023 | | | 422,468 | | | | — | | | | 57,806 | | | | (478,494 | ) | | | — | | | | 1,780 | | | | 5,503,178 | | | | — | | | | 748,014 | | | | (6,189,660 | ) | | | — | | | | 61,532 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 13,931 | | | | — | | | | — | | | | (8,881 | ) | | | — | | | | 5,050 | | | | 194,961 | | | | — | | | | — | | | | (124,137 | ) | | | — | | | | 70,824 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | | Shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) in
shares
outstanding | | | Shares
sold | | | Proceeds
from
shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) | |
Year or
period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Solution 2030 (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12/31/2023 | | | 28,200 | | | | — | | | | 2,403 | | | | (10,207 | ) | | | — | | | | 20,396 | | | | 366,562 | | | | — | | | | 30,615 | | | | (126,534 | ) | | | — | | | | 270,643 | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (302 | ) | | | — | | | | (302 | ) | | | — | | | | — | | | | — | | | | (4,180 | ) | | | — | | | | (4,180 | ) |
| 12/31/2023 | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Solution 2035 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 836,533 | | | | — | | | | — | | | | (1,258,551 | ) | | | — | | | | (422,018 | ) | | | 8,085,325 | | | | — | | | | — | | | | (12,127,699 | ) | | | — | | | | (4,042,374 | ) |
| 12/31/2023 | | | 1,154,386 | | | | — | | | | 1,242,685 | | | | (2,815,655 | ) | | | — | | | | (418,584 | ) | | | 10,355,479 | | | | — | | | | 10,972,912 | | | | (25,218,271 | ) | | | — | | | | (3,889,880 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 551,888 | | | | — | | | | — | | | | (1,645,741 | ) | | | — | | | | (1,093,853 | ) | | | 5,548,431 | | | | — | | | | — | | | | (16,304,657 | ) | | | — | | | | (10,756,226 | ) |
| 12/31/2023 | | | 792,311 | | | | — | | | | 368,082 | | | | (2,878,634 | ) | | | — | | | | (1,718,241 | ) | | | 7,397,266 | | | | — | | | | 3,390,034 | | | | (26,946,718 | ) | | | — | | | | (16,159,418 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 958,356 | | | | — | | | | — | | | | (1,714,722 | ) | | | — | | | | (756,366 | ) | | | 9,475,932 | | | | — | | | | — | | | | (16,906,062 | ) | | | — | | | | (7,430,130 | ) |
| 12/31/2023 | | | 1,806,474 | | | | — | | | | 2,309,180 | | | | (2,920,939 | ) | | | — | | | | 1,194,715 | | | | 16,612,102 | | | | — | | | | 20,874,983 | | | | (26,798,134 | ) | | | — | | | | 10,688,951 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 43,344 | | | | — | | | | — | | | | (279,492 | ) | | | — | | | | (236,148 | ) | | | 403,322 | | | | — | | | | — | | | | (2,558,217 | ) | | | — | | | | (2,154,895 | ) |
| 12/31/2023 | | | 88,084 | | | | — | | | | 82,088 | | | | (138,656 | ) | | | — | | | | 31,516 | | | | 757,923 | | | | — | | | | 696,924 | | | | (1,179,956 | ) | | | — | | | | 274,891 | |
| Solution 2040 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 176,569 | | | | — | | | | — | | | | (95,607 | ) | | | — | | | | 80,962 | | | | 2,566,731 | | | | — | | | | — | | | | (1,366,053 | ) | | | — | | | | 1,200,678 | |
| 12/31/2023 | | | 284,486 | | | | — | | | | 65,444 | | | | (363,126 | ) | | | — | | | | (13,196 | ) | | | 3,713,936 | | | | — | | | | 856,659 | | | | (4,764,785 | ) | | | — | | | | (194,190 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 85,063 | | | | — | | | | — | | | | (194,497 | ) | | | — | | | | (109,434 | ) | | | 1,284,442 | | | | — | | | | — | | | | (2,819,739 | ) | | | — | | | | (1,535,297 | ) |
| 12/31/2023 | | | 143,973 | | | | — | | | | 30,501 | | | | (526,368 | ) | | | — | | | | (351,894 | ) | | | 1,969,066 | | | | — | | | | 417,256 | | | | (7,185,943 | ) | | | — | | | | (4,799,621 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 196,945 | | | | — | | | | — | | | | (45,895 | ) | | | — | | | | 151,050 | | | | 2,927,942 | | | | — | | | | — | | | | (690,106 | ) | | | — | | | | 2,237,836 | |
| 12/31/2023 | | | 348,465 | | | | — | | | | 65,560 | | | | (346,438 | ) | | | — | | | | 67,587 | | | | 4,704,646 | | | | — | | | | 884,407 | | | | (4,624,098 | ) | | | — | | | | 964,955 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 23,079 | | | | — | | | | — | | | | (1,308 | ) | | | — | | | | 21,771 | | | | 333,262 | | | | — | | | | — | | | | (18,175 | ) | | | — | | | | 315,087 | |
| 12/31/2023 | | | 26,175 | | | | — | | | | 8,097 | | | | (46,289 | ) | | | — | | | | (12,017 | ) | | | 342,338 | | | | — | | | | 106,398 | | | | (628,602 | ) | | | — | | | | (179,866 | ) |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (301 | ) | | | — | | | | (301 | ) | | | — | | | | — | | | | — | | | | (4,373 | ) | | | — | | | | (4,373 | ) |
| 12/31/2023 | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Solution 2045 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 539,454 | | | | — | | | | — | | | | (912,783 | ) | | | — | | | | (373,329 | ) | | | 5,099,328 | | | | — | | | | — | | | | (8,669,327 | ) | | | — | | | | (3,569,999 | ) |
| 12/31/2023 | | | 938,889 | | | | — | | | | 1,165,676 | | | | (2,618,193 | ) | | | — | | | | (513,628 | ) | | | 8,217,713 | | | | — | | | | 10,024,810 | | | | (22,968,709 | ) | | | — | | | | (4,726,186 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 494,597 | | | | — | | | | — | | | | (1,586,669 | ) | | | — | | | | (1,092,072 | ) | | | 4,966,363 | | | | — | | | | — | | | | (15,733,808 | ) | | | — | | | | (10,767,445 | ) |
| 12/31/2023 | | | 528,789 | | | | — | | | | 377,451 | | | | (2,649,632 | ) | | | — | | | | (1,743,392 | ) | | | 4,864,603 | | | | — | | | | 3,419,709 | | | | (24,392,346 | ) | | | — | | | | (16,108,034 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 698,453 | | | | — | | | | — | | | | (1,782,292 | ) | | | — | | | | (1,083,839 | ) | | | 6,825,877 | | | | — | | | | — | | | | (16,739,358 | ) | | | — | | | | (9,913,481 | ) |
| 12/31/2023 | | | 1,537,634 | | | | — | | | | 2,371,981 | | | | (2,621,317 | ) | | | — | | | | 1,288,298 | | | | 13,725,811 | | | | — | | | | 20,873,431 | | | | (23,308,140 | ) | | | — | | | | 11,291,102 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 35,833 | | | | — | | | | — | | | | (168,656 | ) | | | — | | | | (132,823 | ) | | | 336,872 | | | | — | | | | — | | | | (1,527,104 | ) | | | — | | | | (1,190,232 | ) |
| 12/31/2023 | | | 84,733 | | | | — | | | | 62,029 | | | | (115,223 | ) | | | — | | | | 31,539 | | | | 723,044 | | | | — | | | | 522,908 | | | | (998,785 | ) | | | — | | | | 247,167 | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (6,980 | ) | | | — | | | | (6,980 | ) | | | — | | | | — | | | | — | | | | (71,957 | ) | | | — | | | | (71,957 | ) |
| 12/31/2023 | | | 38 | | | | — | | | | 460 | | | | (12 | ) | | | — | | | | 486 | | | | 354 | | | | — | | | | 4,302 | | | | (114 | ) | | | — | | | | 4,542 | |
| Solution 2050 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 100,877 | | | | — | | | | — | | | | (77,731 | ) | | | — | | | | 23,146 | | | | 1,499,823 | | | | — | | | | — | | | | (1,162,834 | ) | | | — | | | | 336,989 | |
| 12/31/2023 | | | 228,691 | | | | — | | | | 60,262 | | | | (300,963 | ) | | | — | | | | (12,010 | ) | | | 3,087,771 | | | | — | | | | 811,733 | | | | (4,043,990 | ) | | | — | | | | (144,486 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 85,388 | | | | — | | | | — | | | | (171,326 | ) | | | — | | | | (85,938 | ) | | | 1,345,660 | | | | — | | | | — | | | | (2,599,283 | ) | | | — | | | | (1,253,623 | ) |
| 12/31/2023 | | | 157,697 | | | | — | | | | 24,603 | | | | (438,391 | ) | | | — | | | | (256,091 | ) | | | 2,218,819 | | | | — | | | | 348,867 | | | | (6,226,216 | ) | | | — | | | | (3,658,530 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 185,881 | | | | — | | | | — | | | | (28,658 | ) | | | — | | | | 157,223 | | | | 2,862,421 | | | | — | | | | — | | | | (446,545 | ) | | | — | | | | 2,415,876 | |
| 12/31/2023 | | | 333,983 | | | | — | | | | 51,754 | | | | (254,730 | ) | | | — | | | | 131,007 | | | | 4,647,030 | | | | — | | | | 720,411 | | | | (3,540,498 | ) | | | — | | | | 1,826,943 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 18,497 | | | | — | | | | — | | | | (944 | ) | | | — | | | | 17,553 | | | | 284,143 | | | | — | | | | — | | | | (14,188 | ) | | | — | | | | 269,955 | |
| 12/31/2023 | | | 17,400 | | | | — | | | | 3,566 | | | | (1,795 | ) | | | — | | | | 19,171 | | | | 237,006 | | | | — | | | | 48,640 | | | | (24,788 | ) | | | — | | | | 260,858 | |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | | Shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) in
shares
outstanding | | | Shares
sold | | | Proceeds
from
shares
issued in
merger | | | Reinvestment
of
distributions | | | Shares
redeemed | | | Shares
converted | | | Net increase
(decrease) | |
Year or
period ended | | # | | | # | | | # | | | # | | | # | | | # | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Solution 2050 (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (302 | ) | | | — | | | | (302 | ) | | | — | | | | — | | | | — | | | | (4,598 | ) | | | — | | | | (4,598 | ) |
| 12/31/2023 | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Solution 2055 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 290,140 | | | | — | | | | — | | | | (373,366 | ) | | | — | | | | (83,226 | ) | | | 3,270,206 | | | | — | | | | — | | | | (4,239,364 | ) | | | — | | | | (969,158 | ) |
| 12/31/2023 | | | 676,034 | | | | — | | | | 242,429 | | | | (1,053,400 | ) | | | — | | | | (134,937 | ) | | | 6,853,493 | | | | — | | | | 2,477,627 | | | | (10,660,280 | ) | | | — | | | | (1,329,160 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 275,026 | | | | — | | | | — | | | | (518,739 | ) | | | — | | | | (243,713 | ) | | | 3,259,675 | | | | — | | | | — | | | | (6,017,664 | ) | | | — | | | | (2,757,989 | ) |
| 12/31/2023 | | | 342,590 | | | | — | | | | 98,821 | | | | (1,121,232 | ) | | | — | | | | (679,821 | ) | | | 3,635,127 | | | | — | | | | 1,058,375 | | | | (11,824,303 | ) | | | — | | | | (7,130,801 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 418,671 | | | | — | | | | — | | | | (307,958 | ) | | | — | | | | 110,713 | | | | 4,818,398 | | | | — | | | | — | | | | (3,546,686 | ) | | | — | | | | 1,271,712 | |
| 12/31/2023 | | | 834,087 | | | | — | | | | 408,247 | | | | (1,195,976 | ) | | | — | | | | 46,358 | | | | 8,587,306 | | | | — | | | | 4,229,438 | | | | (12,302,600 | ) | | | — | | | | 514,144 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 40,199 | | | | — | | | | — | | | | (33,294 | ) | | | — | | | | 6,905 | | | | 461,295 | | | | — | | | | — | | | | (380,406 | ) | | | — | | | | 80,889 | |
| 12/31/2023 | | | 68,910 | | | | — | | | | 15,531 | | | | (92,411 | ) | | | — | | | | (7,970 | ) | | | 702,469 | | | | — | | | | 160,283 | | | | (935,589 | ) | | | — | | | | (72,837 | ) |
| Solution 2060 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 117,172 | | | | — | | | | — | | | | (105,304 | ) | | | — | | | | 11,868 | | | | 1,299,065 | | | | — | | | | — | | | | (1,177,233 | ) | | | — | | | | 121,832 | |
| 12/31/2023 | | | 262,446 | | | | — | | | | 49,681 | | | | (315,700 | ) | | | — | | | | (3,573 | ) | | | 2,604,088 | | | | — | | | | 498,798 | | | | (3,140,548 | ) | | | — | | | | (37,662 | ) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 104,835 | | | | — | | | | — | | | | (209,503 | ) | | | — | | | | (104,668 | ) | | | 1,198,211 | | | | — | | | | — | | | | (2,308,630 | ) | | | — | | | | (1,110,419 | ) |
| 12/31/2023 | | | 221,276 | | | | — | | | | 27,187 | | | | (388,078 | ) | | | — | | | | (139,615 | ) | | | 2,265,128 | | | | — | | | | 280,300 | | | | (3,947,279 | ) | | | — | | | | (1,401,851 | ) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 214,257 | | | | — | | | | — | | | | (33,114 | ) | | | — | | | | 181,143 | | | | 2,391,548 | | | | — | | | | — | | | | (372,058 | ) | | | — | | | | 2,019,490 | |
| 12/31/2023 | | | 300,419 | | | | — | | | | 48,377 | | | | (272,730 | ) | | | — | | | | 76,066 | | | | 3,010,126 | | | | — | | | | 487,642 | | | | (2,744,767 | ) | | | — | | | | 753,001 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 17,968 | | | | — | | | | — | | | | (14,491 | ) | | | — | | | | 3,477 | | | | 199,643 | | | | — | | | | — | | | | (157,229 | ) | | | — | | | | 42,414 | |
| 12/31/2023 | | | 35,554 | | | | — | | | | 3,965 | | | | (28,996 | ) | | | — | | | | 10,523 | | | | 352,796 | | | | — | | | | 39,846 | | | | (280,696 | ) | | | — | | | | 111,946 | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (509 | ) | | | — | | | | (509 | ) | | | — | | | | — | | | | — | | | | (5,643 | ) | | | — | | | | (5,643 | ) |
| 12/31/2023 | | | — | | | | — | | | | 24 | | | | — | | | | — | | | | 24 | | | | — | | | | — | | | | 239 | | | | — | | | | — | | | | 239 | |
| Solution 2065 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 79,699 | | | | — | | | | — | | | | (17,258 | ) | | | — | | | | 62,441 | | | | 883,333 | | | | — | | | | — | | | | (194,477 | ) | | | — | | | | 688,856 | |
| 12/31/2023 | | | 169,386 | | | | — | | | | 185 | | | | (55,251 | ) | | | — | | | | 114,320 | | | | 1,674,235 | | | | — | | | | 1,985 | | | | (540,504 | ) | | | — | | | | 1,135,716 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 68,637 | | | | — | | | | — | | | | (48,835 | ) | | | — | | | | 19,802 | | | | 745,484 | | | | — | | | | — | | | | (518,026 | ) | | | — | | | | 227,458 | |
| 12/31/2023 | | | 124,144 | | | | — | | | | 12,858 | | | | (85,105 | ) | | | — | | | | 51,897 | | | | 1,220,820 | | | | — | | | | 133,338 | | | | (810,449 | ) | | | — | | | | 543,709 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 223,586 | | | | — | | | | — | | | | (41,215 | ) | | | — | | | | 182,371 | | | | 2,514,394 | | | | — | | | | — | | | | (458,603 | ) | | | — | | | | 2,055,791 | |
| 12/31/2023 | | | 283,104 | | | | — | | | | 6,440 | | | | (51,080 | ) | | | — | | | | 238,464 | | | | 2,768,951 | | | | — | | | | 68,650 | | | | (501,022 | ) | | | — | | | | 2,336,579 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | 4,378 | | | | — | | | | — | | | | (125 | ) | | | — | | | | 4,253 | | | | 49,440 | | | | — | | | | — | | | | (1,388 | ) | | | — | | | | 48,052 | |
| 12/31/2023 | | | 7,362 | | | | — | | | | 12 | | | | (955 | ) | | | — | | | | 6,419 | | | | 72,247 | | | | — | | | | 126 | | | | (9,180 | ) | | | — | | | | 63,193 | |
| Class T(1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | | — | | | | — | | | | — | | | | (369 | ) | | | — | | | | (369 | ) | | | — | | | | — | | | | — | | | | (4,130 | ) | | | — | | | | (4,130 | ) |
| 12/31/2023 | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| (1) | Class T was fully redeemed on close of business May 1, 2024. |
NOTE 10 — FEDERAL INCOME TAXES
The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains and wash sale deferrals.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 10 — FEDERAL INCOME TAXES (continued)
Dividends paid by the Portfolios from net investment income and distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.
The tax composition of dividends and distributions to shareholders was as follows:
| | | Year Ended
December 31, 2023 | | | Year Ended
December 31, 2022 | |
| | | Ordinary
Income | | | Long-term
Capital Gains | | | Ordinary
Income | | | Long-term
Capital Gains | |
| Solution Aggressive | | $ | 778,810 | | | $ | 1,318,253 | | | $ | 1,707,659 | | | $ | 3,537,854 | |
| Solution Balanced | | | 1,917,897 | | | | 3,009,620 | | | | 3,421,744 | | | | 5,027,038 | |
| Solution Conservative | | | 448,973 | | | | 195,232 | | | | 984,362 | | | | 754,961 | |
| Solution Income | | | 5,571,811 | | | | 1,818,555 | | | | 14,498,810 | | | | 18,204,860 | |
| Solution Moderately Aggressive | | | 15,229,278 | | | | 25,858,545 | | | | 24,092,582 | | | | 61,578,687 | |
| Solution Moderately Conservative | | | 999,851 | | | | 915,935 | | | | 2,769,129 | | | | 2,754,053 | |
| Solution 2025 | | | 11,598,031 | | | | 7,645,727 | | | | 35,127,802 | | | | 60,568,193 | |
| Solution 2030 | | | 1,286,006 | | | | 785,743 | | | | 3,473,710 | | | | 6,209,208 | |
| Solution 2035 | | | 18,417,405 | | | | 17,517,448 | | | | 37,722,235 | | | | 76,390,953 | |
| Solution 2040 | | | 1,293,092 | | | | 971,836 | | | | 2,937,353 | | | | 5,607,460 | |
| Solution 2045 | | | 13,848,900 | | | | 20,996,260 | | | | 32,695,095 | | | | 63,507,813 | |
| Solution 2050 | | | 996,045 | | | | 933,824 | | | | 2,443,657 | | | | 5,050,490 | |
| Solution 2055 | | | 4,495,214 | | | | 3,430,509 | | | | 12,598,299 | | | | 20,973,156 | |
| Solution 2060 | | | 731,268 | | | | 575,557 | | | | 1,897,650 | | | | 3,617,475 | |
| Solution 2065 | | | 185,000 | | | | 19,098 | | | | 222,177 | | | | 338,954 | |
The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of December 31, 2023 were:
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 10 — FEDERAL INCOME TAXES (continued)
| | | Undistributed
Ordinary | | | Undistributed
Long-term | | | Unrealized
Appreciation/ | | | Capital Loss Carryforwards | | | Total
Distributable | |
| | Income | | | Capital Gains | | | (Depreciation) | | | Amount | | | Character | | | Earnings/(Loss) | |
| Solution Aggressive | | $ | 409,023 | | | $ | 537,735 | | | $ | (1,135,444 | ) | | $ | — | | | - | | | $ | (188,686 | ) |
| Solution Balanced | | | 882,715 | | | | — | | | | (3,538,639 | ) | | | (408,402 | ) | | Short-term | | | | (3,559,230 | ) |
| | | | | | | | | | | | | | | | (494,904 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (903,306 | ) | | | | | | | |
| Solution Conservative | | | 393,352 | | | | — | | | | (907,025 | ) | | | (21,036 | ) | | Short-term | | | | (1,696,552 | ) |
| | | | | | | | | | | | | | | | (1,161,843 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (1,182,879 | ) | | | | | | | |
| Solution Income | | | 4,533,078 | | | | — | | | | (14,941,757 | ) | | | (8,003,117 | ) | | Long-term | | | | (18,411,796 | ) |
| | | | | | | | | | | | | | | $ | (8,003,117 | ) | | | | | | | |
| Solution Moderately Aggressive | | | 7,452,077 | | | | 3,376,868 | | | | (13,148,323 | ) | | | — | | | - | | | | (2,319,378 | ) |
| Solution Moderately Conservative | | | 754,890 | | | | — | | | | (3,096,256 | ) | | | (148,887 | ) | | Short-term | | | | (3,434,033 | ) |
| | | | | | | | | | | | | | | | (943,780 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (1,092,667 | ) | | | | | | | |
| Solution 2025 | | | 8,986,235 | | | | — | | | | (31,113,132 | ) | | | (393,302 | ) | | Short-term | | | | (34,753,483 | ) |
| | | | | | | | | | | | | | | | (12,233,284 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (12,626,586 | ) | | | | | | | |
| Solution 2030 | | | 951,473 | | | | — | | | | (3,080,962 | ) | | | (122,096 | ) | | Short-term | | | | (3,117,585 | ) |
| | | | | | | | | | | | | | | | (866,000 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (988,096 | ) | | | | | | | |
| Solution 2035 | | | 9,509,201 | | | | — | | | | (21,644,121 | ) | | | (554,472 | ) | | Short-term | | | | (12,689,392 | ) |
| Solution 2040 | | | 590,963 | | | | — | | | | (1,280,871 | ) | | | (380,987 | ) | | Short-term | | | | (1,673,009 | ) |
| | | | | | | | | | | | | | | | (602,114 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (983,101 | ) | | | | | | | |
| Solution 2045 | | | 6,230,957 | | | | — | | | | (13,628,720 | ) | | | (1,561,291 | ) | | Short-term | | | | (8,959,054 | ) |
| Solution 2050 | | | 454,133 | | | | — | | | | (643,715 | ) | | | (129,959 | ) | | Short-term | | | | (547,174 | ) |
| | | | | | | | | | | | | | | | (227,633 | ) | | Long-term | | | | | |
| | | | | | | | | | | | | | | $ | (357,592 | ) | | | | | | | |
| Solution 2055 | | | 1,973,417 | | | | 369,030 | | | | (3,192,420 | ) | | | — | | | - | | | | (849,973 | ) |
| Solution 2060 | | | 362,733 | | | | 156,351 | | | | (915,148 | ) | | | — | | | - | | | | (396,064 | ) |
| Solution 2065 | | | — | | | | 224,247 | | | | (32,812 | ) | | | — | | | - | | | | 191,435 | |
The Portfolios’ major tax jurisdictions are U.S. federal and Arizona state.
As of June 30, 2024, no provision for income tax is required in the Portfolios’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.
NOTE 11 — LONDON INTERBANK OFFERED RATE (“LIBOR”)
The London Interbank Offered Rate (“LIBOR”) was the offered rate for short-term Eurodollar deposits between major international banks. The terms of investments,
financings or other transactions (including certain derivatives transactions) to which the Portfolio may be a party have historically been tied to LIBOR. In connection with the global transition away from LIBOR led by regulators and market participants, LIBOR was last published on a representative
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 11 — LONDON INTERBANK OFFERED RATE (“LIBOR”) (continued)
basis at the end of June 2023. Alternative reference rates to LIBOR have been established in most major currencies and markets in these new rates are continuing to develop. The transition away from LIBOR to the use of replacement rates has gone relatively smoothly on the Portfolio and the financial instruments in which it invests; however, longer-term impacts are still uncertain.
In addition, interest rates or other types of rates and indices which are classed as “benchmarks” have been the subject of ongoing national and international regulatory reform, including under the European Union regulation on indices used as benchmarks in financial instruments and financial contracts (known as the “Benchmarks Regulation”). The Benchmarks Regulation has been enacted into United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended), subject to amendments made by the Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (SI 2019/657) and other statutory instruments. Following the implementation of these reforms, the manner of administration of benchmarks has changed and may further change in the future, with the result that relevant benchmarks may perform differently than in the past, the use of benchmarks that are not compliant with the new standards by certain supervised entities may be restricted, and certain benchmarks may be eliminated entirely. Such changes could cause increased market volatility and disruptions in liquidity for instruments that rely on or are impacted by such benchmarks. Additionally, there could be other consequences which cannot be predicted.
NOTE 12 — MARKET DISRUPTION AND GEOPOLITICAL RISK
A Portfolio is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars,
terrorism, global health crises and pandemics, and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby geographic regions. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have recently experienced financial difficulties and, in some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a Portfolio’s investments. Any of these occurrences could disrupt the operations of a Portfolio and of a Portfolio’s service providers.
NOTE 13 — SUBSEQUENT EVENTS
Dividends: Subsequent to June 30, 2024, the Portfolios declared dividends and distributions of:
| | | Per Share Amounts | | | | |
| | | Net Investment Income | | Short-term Capital Gains | | Long-term Capital Gains | | Payable Date | | Record Date |
| Solution Aggressive | | | | | | | | | | |
| Class ADV | | $- | | $- | | $0.0418 | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.0334 | | $- | | $0.0418 | | August 5, 2024 | | August 1, 2024 |
| Class R6 | | $0.0332 | | $- | | $0.0418 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.0139 | | $- | | $0.0418 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $- | | $- | | $0.0418 | | August 5, 2024 | | August 1, 2024 |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 13 — SUBSEQUENT EVENTS (continued)
| Solution Balanced | | | | | |
| Class ADV | $- | $- | $- | August 5, 2024 | August 1, 2024 |
| Class I | $0.0493 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class R6 | $0.0495 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S | $0.0250 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.0145 | $- | $- | August 5, 2024 | August 1, 2024 |
| Solution Conservative | | | | | |
| Class ADV | $0.0217 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class I | $0.0396 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class R6 | $0.0485 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S | $0.0382 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.0312 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class T | | | | | |
| Solution Income | | | | | |
| Class ADV | $0.2595 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class I | $0.3147 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S | $0.2851 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.2695 | $- | $- | August 5, 2024 | August 1, 2024 |
| Solution Moderately Aggressive | | | | | |
| Class ADV | $0.1381 | $0.0286 | $0.0866 | August 5, 2024 | August 1, 2024 |
| Class I | $0.1900 | $0.0286 | $0.0866 | August 5, 2024 | August 1, 2024 |
| Class R6 | $0.1905 | $0.0286 | $0.0866 | August 5, 2024 | August 1, 2024 |
| Class S | $0.1601 | $0.0286 | $0.0866 | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.1531 | $0.0286 | $0.0866 | August 5, 2024 | August 1, 2024 |
| Solution Moderately Conservative | | | | | |
| Class ADV | $0.2777 | $- | $- | July 12, 2024 | July 10, 2024 |
| Class I | $0.3514 | $- | $- | July 12, 2024 | July 10, 2024 |
| Class R6 | $0.3547 | $- | $- | July 12, 2024 | July 10, 2024 |
| Class S | $0.3199 | $- | $- | July 12, 2024 | July 10, 2024 |
| Class S2 | $0.2758 | $- | $- | July 12, 2024 | July 10, 2024 |
| Solution 2025 | | | | | |
| Class ADV | $0.1912 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class I | $0.2398 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S | $0.2160 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.2024 | $- | $- | August 5, 2024 | August 1, 2024 |
| Solution 2030 | | | | | |
| Class ADV | $0.2242 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class I | $0.2889 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S | $0.2590 | $- | $- | August 5, 2024 | August 1, 2024 |
| Class S2 | $0.2496 | $- | $- | August 5, 2024 | August 1, 2024 |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 13 — SUBSEQUENT EVENTS (continued)
| | | Per Share Amounts | | | | |
| | | Net Investment Income | | Short-term Capital Gains | | Long-term Capital Gains | | Payable Date | | Record Date |
| Solution 2035 | | | | | | | | | | |
| Class ADV | | $0.1468 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1934 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1696 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1509 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Solution 2040 | | | | | | | | | | |
| Class ADV | | $0.1817 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.2511 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.2117 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1839 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Solution 2045 | | | | | | | | | | |
| Class ADV | | $0.1195 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1660 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1418 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1232 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Solution 2050 | | | | | | | | | | |
| Class ADV | | $0.1566 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.2274 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1929 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1687 | | $- | | $- | | August 5, 2024 | | August 1, 2024 |
| Solution 2055 | | | | | | | | | | |
| Class ADV | | $0.1170 | | $- | | $0.0283 | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1695 | | $- | | $0.0283 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1434 | | $- | | $0.0283 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1270 | | $- | | $0.0283 | | August 5, 2024 | | August 1, 2024 |
| Solution 2060 | | | | | | | | | | |
| Class ADV | | $0.1173 | | $- | | $0.0618 | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1679 | | $- | | $0.0618 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1437 | | $- | | $0.0618 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1207 | | $- | | $0.0618 | | August 5, 2024 | | August 1, 2024 |
| Solution 2065 | | | | | | | | | | |
| Class ADV | | $- | | $- | | $0.0058 | | August 5, 2024 | | August 1, 2024 |
| Class I | | $- | | $- | | $0.0058 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $- | | $- | | $0.0058 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $- | | $- | | $0.0058 | | August 5, 2024 | | August 1, 2024 |
Reorganization: On January 10, 2024, the Board approved a proposal to reorganize Solution Moderately Conservative with and into Solution Conservative. The reorganization was completed on the close of business July 12, 2024.
Reorganization: On January 10, 2024, the Board approved a proposal to reorganize Voya Strategic Allocation Conservative Portfolio, which is not included in this report, with and into Solution Conservative. The reorganization was completed on the close of business July 12, 2024.
Reorganization: On January 10, 2024, the Board approved a proposal to reorganize Voya Strategic Allocation Growth Portfolio, which is not included in this report, with and into Solution Aggressive. The reorganization was completed on the close of business July 12, 2024.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 13 — SUBSEQUENT EVENTS (continued)
Reorganization: On January 10, 2024, the Board approved a proposal to reorganize Voya Strategic Allocation Moderate Portfolio, which is not included in this report, with and into Solution Balanced. The proposed reorganization was approved by the shareholders of the merging portfolio at a shareholder meeting held on June 27, 2024. The reorganization was completed on the close of business July 12, 2024.
Fee changes: Effective July 15, 2024, the expense limits for Solution Aggressive Portfolio were lowered to 1.27%, 0.77%, 0.77%, 1.02% and 1.17% for Classes ADV, I, R6, S and S2 shares, respectively, through May 1, 2026. Also, the expense limits for Solution Balanced Portfolio were also lowered, effective July 15, 2024, to 1.25% 0.75%, 0.75%, 1.00% and 1.15% Classes ADV, I, R6, S and S2 shares, respectively, through May 1, 2026. Lastly, for Solution Aggressive, Solution Balanced, Solution Conservative and Solution Moderately Aggressive, the component of the management fee attributable to affiliated Underlying Funds changed to 0.18% of each Portfolio’s average daily net assets invested in affiliated Underlying Funds.
The Portfolios have evaluated events occurring after the Statements of Assets and Liabilities date through the date that the financial statements were issued (“subsequent events”) to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.
| Voya Solution Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | Value | | | Percentage of Net Assets | |
| MUTUAL FUNDS: 100.1% | |
| | | Affiliated Investment Companies: 100.1% | |
| 261,366 | | Voya Intermediate Bond Fund - Class R6 | | $ | 2,258,200 | | | | 6.0 | |
| 131,935 | | Voya International Index Portfolio - Class I | | | 1,497,466 | | | | 4.0 | |
| 210,426 | | Voya Large Cap Value Portfolio - Class R6 | | | 1,319,368 | | | | 3.5 | |
| 73,298 | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 759,369 | | | | 2.0 | |
| 270,475 | | Voya Multi-Manager International Equity Fund - Class I | | | 2,815,641 | | | | 7.5 | |
| 264,885 | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 2,632,954 | | | | 7.0 | |
| 30,310 | | Voya Russell™ Large Cap Growth Index - Class I | | | 2,267,515 | | | | 6.0 | |
| 21,332 (1) | | Voya Small Cap Growth Fund - Class R6 | | | 950,319 | | | | 2.5 | |
| 116,741 | | Voya Small Company Fund - Class R6 | | | 1,732,436 | | | | 4.6 | |
| 680,719 | | Voya U.S. Stock Index Portfolio - Class I | | | 13,947,934 | | | | 37.0 | |
| 43,137 | | VY® Invesco Comstock Portfolio - Class I | | | 944,275 | | | | 2.5 | |
| 101,477 | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 2,837,302 | | | | 7.5 | |
| 235,563 | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 2,640,658 | | | | 7.0 | |
| 11,006 | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,132,449 | | | | 3.0 | |
| | | | | | | | | | | |
| | | Total Mutual Funds | | | | | | | | |
| | | (Cost $33,329,599) | | | 37,735,886 | | | | 100.1 | |
| | | | | | | | | | | |
| | | Total Investments in Securities | | | | | | | | |
| | | (Cost $33,329,599) | | $ | 37,735,886 | | | | 100.1 | |
| | | Liabilities in Excess of Other Assets | | | (19,551 | ) | | | (0.1 | ) |
| | | Net Assets | | $ | 37,716,335 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | | Signifiicant Other
Observable
Inputs
(Level 2) | | | Significant Unobservable Inputs (Level 3) | | | Fair Value
at
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Mutual Funds | | $ | 37,735,886 | | | $ | — | | | $ | — | | | $ | 37,735,886 | |
| Total Investments, at fair value | | $ | 37,735,886 | | | $ | — | | | $ | — | | | $ | 37,735,886 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 2,362,242 | | | $ | 461,134 | | | $ | (531,042 | ) | | $ | (34,134 | ) | | $ | 2,258,200 | | | $ | 51,062 | | | $ | (9,974 | ) | | $ | — | |
| Voya International Index Portfolio - Class I | | | — | | | | 1,623,371 | | | | (122,672 | ) | | | (3,233 | ) | | | 1,497,466 | | | | 39,574 | | | | 1,937 | | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 1,220,858 | | | | 144,283 | | | | (123,568 | ) | | | 77,795 | | | | 1,319,368 | | | | — | | | | 26,791 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,031,706 | | | | 141,486 | | | | (415,866 | ) | | | 2,043 | | | | 759,369 | | | | — | | | | 52,879 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 1,625,698 | | | | 1,574,759 | | | | (430,983 | ) | | | 46,167 | | | | 2,815,641 | | | | — | | | | 1,582 | | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 1,650,228 | | | | 139,733 | | | | (1,714,180 | ) | | | (75,781 | ) | | | — | | | | — | | | | 159,991 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 2,053,857 | | | | 755,150 | | | | (298,469 | ) | | | 122,416 | | | | 2,632,954 | | | | — | | | | (36,252 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,956,166 | | | | 456,097 | | | | (336,309 | ) | | | 191,561 | | | | 2,267,515 | | | | 9,011 | | | | 149,214 | | | | 79,012 | |
| Voya Small Cap Growth Fund - Class R6 | | | 1,058,783 | | | | 92,048 | | | | (265,402 | ) | | | 64,890 | | | | 950,319 | | | | — | | | | 49,313 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 1,421,673 | | | | 495,209 | | | | (160,899 | ) | | | (23,547 | ) | | | 1,732,436 | | | | — | | | | 8,843 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 12,518,853 | | | | 2,338,103 | | | | (2,666,168 | ) | | | 1,757,146 | | | | 13,947,934 | | | | — | | | | 95,115 | | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 1,046,486 | | | | 94,910 | | | | (283,164 | ) | | | 86,043 | | | | 944,275 | | | | — | | | | (6,680 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 2,573,954 | | | | 376,870 | | | | (353,947 | ) | | | 240,425 | | | | 2,837,302 | | | | — | | | | (59,802 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 2,053,869 | | | | 745,873 | | | | (437,809 | ) | | | 278,725 | | | | 2,640,658 | | | | — | | | | (117,478 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,414,024 | | | | 113,205 | | | | (504,149 | ) | | | 109,369 | | | | 1,132,449 | | | | — | | | | 131,388 | | | | — | |
| | | $ | 33,988,397 | | | $ | 9,552,231 | | | $ | (8,644,627 | ) | | $ | 2,839,885 | | | $ | 37,735,886 | | | $ | 99,647 | | | $ | 446,867 | | | $ | 79,012 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $36,173,337. | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 4,419,454 | |
| Gross Unrealized Depreciation | | | (2,856,905 | ) |
| Net Unrealized Appreciation | | $ | 1,562,549 | |
See Accompanying Notes to Financial Statements
| Voya Solution Balanced Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 1.9% | | | | | | | | |
| 18,698 | | | Vanguard Long-Term Treasury ETF | | $ | 1,078,501 | | | | 1.9 | |
| | | | Total Exchange-Traded Funds
(Cost $1,164,042) | | | 1,078,501 | | | | 1.9 | |
| MUTUAL FUNDS: 98.1% | | | | | | | | |
| | | | Affiliated Investment Companies: 98.1% | | | | | | | | |
| 1,182,146 | | | Voya Intermediate Bond Fund - Class R6 | | | 10,213,743 | | | | 18.5 | |
| 440,884 | | | Voya Large Cap Value Portfolio - Class R6 | | | 2,764,340 | | | | 5.0 | |
| 309,390 (1) | | | Voya MidCap Opportunities Portfolio - Class R6 | | | 1,664,519 | | | | 3.0 | |
| 107,527 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,113,985 | | | | 2.0 | |
| 290,898 | | | Voya Multi-Manager International Equity Fund - Class I | | | 3,028,250 | | | | 5.5 | |
| 166,484 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,654,848 | | | | 3.0 | |
| 29,646 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 2,217,785 | | | | 4.0 | |
| 479,739 | | | Voya Short Term Bond Fund - Class R6 | | | 4,447,180 | | | | 8.1 | |
| 12,516 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 557,608 | | | | 1.0 | |
| 76,114 | | | Voya Small Company Fund - Class R6 | | | 1,129,535 | | | | 2.1 | |
| 661,186 | | | Voya U.S. Stock Index Portfolio - Class I | | | 13,547,702 | | | | 24.5 | |
| 379,386 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 3,554,847 | | | | 6.4 | |
| 50,615 | | | VY® Invesco Comstock Portfolio - Class I | | | 1,107,968 | | | | 2.0 | |
| 198,472 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 5,549,267 | | | | 10.0 | |
| 16,147 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,661,408 | | | | 3.0 | |
| | | | | | | | | | | | |
| | | | Total Mutual Funds
(Cost $50,285,832) | | | 54,212,985 | | | | 98.1 | |
| | | | | | | | | | | | |
| | | | Total Long-Term Investments
(Cost $51,449,874) | | | 55,291,486 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | | Total Investments in Securities
(Cost $51,449,874) | | $ | 55,291,486 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | | Liabilities in Excess of Other Assets | | | (5,764 | ) | | | 0.0 | |
| | | | Net Assets | | $ | 55,285,722 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution Balanced Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 1,078,501 | | | $ | — | | | $ | — | | | $ | 1,078,501 | |
| Mutual Funds | | | 54,212,985 | | | | — | | | | — | | | | 54,212,985 | |
| Total Investments, at fair value | | $ | 55,291,486 | | | $ | — | | | $ | — | | | $ | 55,291,486 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 9,121,832 | | | $ | 2,011,851 | | | $ | (895,749 | ) | | $ | (24,191 | ) | | $ | 10,213,743 | | | $ | 221,645 | | | $ | (135,323 | ) | | $ | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 1,791,287 | | | | 1,013,517 | | | | (325,031 | ) | | | 284,567 | | | | 2,764,340 | | | | — | | | | (100,433 | ) | | | — | |
| Voya MidCap Opportunities Portfolio - Class R6 | | | 1,529,697 | | | | 272,100 | | | | (164,857 | ) | | | 27,579 | | | | 1,664,519 | | | | — | | | | 62,033 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,513,517 | | | | 115,275 | | | | (537,330 | ) | | | 22,523 | | | | 1,113,985 | | | | — | | | | 31,630 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 1,372,671 | | | | 1,758,541 | | | | (150,331 | ) | | | 47,369 | | | | 3,028,250 | | | | — | | | | (4,352 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 1,393,975 | | | | 127,630 | | | | (1,482,335 | ) | | | (39,270 | ) | | | — | | | | — | | | | 129,515 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,505,724 | | | | 210,210 | | | | (154,510 | ) | | | 93,424 | | | | 1,654,848 | | | | — | | | | (22,278 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 2,086,397 | | | | 299,996 | | | | (362,037 | ) | | | 193,429 | | | | 2,217,785 | | | | 9,178 | | | | 160,413 | | | | 80,473 | |
| Voya Short Term Bond Fund - Class R6 | | | 3,897,473 | | | | 879,747 | | | | (309,155 | ) | | | (20,885 | ) | | | 4,447,180 | | | | 95,976 | | | | (4,985 | ) | | | — | |
| Voya Small Cap Growth Fund - Class R6 | | | 517,801 | | | | 52,585 | | | | (63,190 | ) | | | 50,412 | | | | 557,608 | | | | — | | | | 11,537 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 1,051,968 | | | | 180,181 | | | | (85,746 | ) | | | (16,868 | ) | | | 1,129,535 | | | | — | | | | 5,296 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 11,475,083 | | | | 1,844,540 | | | | (1,520,895 | ) | | | 1,748,974 | | | | 13,547,702 | | | | — | | | | 42,256 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 3,659,929 | | | | 660,184 | | | | (853,476 | ) | | | 88,210 | | | | 3,554,847 | | | | — | | | | (176,435 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 1,792,611 | | | | 126,894 | | | | (964,046 | ) | | | 152,509 | | | | 1,107,968 | | | | — | | | | (37,774 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 5,054,240 | | | | 568,781 | | | | (460,515 | ) | | | 386,761 | | | | 5,549,267 | | | | — | | | | (27,113 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,556,075 | | | | 157,759 | | | | (289,815 | ) | | | 237,389 | | | | 1,661,408 | | | | — | | | | 68,566 | | | | — | |
| | | $ | 49,320,280 | | | $ | 10,279,791 | | | $ | (8,619,018 | ) | | $ | 3,231,932 | | | $ | 54,212,985 | | | $ | 326,799 | | | $ | 2,553 | | | $ | 80,473 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution Balanced Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $55,663,891. |
| Net unrealized depreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 4,791,693 | |
| Gross Unrealized Depreciation | | | (5,164,098 | ) |
| Net Unrealized Depreciation | | $ | (372,405 | ) |
See Accompanying Notes to Financial Statements
| Voya Solution Conservative Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
EXCHANGE-TRADED FUNDS: 7.0% | | | | | | | | |
| 9,110 | | | Schwab U.S. TIPS ETF | | $ | 473,811 | | | | 5.0 | |
| 3,217 | | | Vanguard Long-Term Treasury ETF | | | 185,557 | | | | 2.0 | |
| | | | Total Exchange-Traded Funds
(Cost $675,161) | | | 659,368 | | | | 7.0 | |
| MUTUAL FUNDS: 93.2% | | | | | | | | |
| | | | Affiliated Investment Companies: 93.2% | | | | | | | | |
| 66,052 | | | Voya Global Bond Fund - Class R6 | | | 470,289 | | | | 5.0 | |
| 69,263 | | | Voya High Yield Bond Fund - Class R6 | | | 474,450 | | | | 5.0 | |
| 272,227 | | | Voya Intermediate Bond Fund - Class R6 | | | 2,352,038 | | | | 25.0 | |
| 45,134 | | | Voya Large Cap Value Portfolio - Class R6 | | | 282,987 | | | | 3.0 | |
| 26,397 (1) | | | Voya MidCap Opportunities Portfolio - Class R6 | | | 142,017 | | | | 1.5 | |
| 18,047 | | | Voya Multi-Manager International Equity Fund - Class I | | | 187,873 | | | | 2.0 | |
| 14,202 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 141,167 | | | | 1.5 | |
| 3,795 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 283,890 | | | | 3.0 | |
| 225,169 | | | Voya Short Term Bond Fund - Class R6 | | | 2,087,314 | | | | 22.2 | |
| 23,026 | | | Voya U.S. Stock Index Portfolio - Class I | | | 471,806 | | | | 5.0 | |
| 99,445 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 931,795 | | | | 9.9 | |
| 33,868 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 946,946 | | | | 10.1 | |
| | | | | | | | | | | | |
| | | | Total Mutual Funds (Cost $8,526,285) | | | 8,772,572 | | | | 93.2 | |
| | | | | | | | | | | | |
| | | | Total Long-Term Investments (Cost $9,201,446) | | | 9,431,940 | | | | 100.2 | |
| | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $9,201,446) | | $ | 9,431,940 | | | | 100.2 | |
| | | | | | | | | | | | |
| | | | Liabilities in Excess of Other Assets | | | (15,677) | | | | (0.2) | |
| | | | Net Assets | | $ | 9,416,263 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution Conservative Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 659,368 | | | $ | — | | | $ | — | | | $ | 659,368 | |
| Mutual Funds | | | 8,772,572 | | | | — | | | | — | | | | 8,772,572 | |
| Total Investments, at fair value | | $ | 9,431,940 | | | $ | — | | | $ | — | | | $ | 9,431,940 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya Global Bond Fund - Class R6 | | $ | 507,600 | | | $ | 79,766 | | | $ | (103,751 | ) | | $ | (13,326 | ) | | $ | 470,289 | | | $ | 10,925 | | | $ | (9,030 | ) | | $ | — | |
| Voya High Yield Bond Fund - Class R6 | | | 521,626 | | | | 63,062 | | | | (108,945 | ) | | | (1,293 | ) | | | 474,450 | | | | 17,062 | | | | (3,122 | ) | | | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 2,304,174 | | | | 652,215 | | | | (563,602 | ) | | | (40,749 | ) | | | 2,352,038 | | | | 55,279 | | | | 2,009 | | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | — | | | | 328,777 | | | | (55,687 | ) | | | 9,897 | | | | 282,987 | | | | — | | | | 1,678 | | | | — | |
| Voya MidCap Opportunities Portfolio - Class R6 | | | 156,746 | | | | 21,363 | | | | (36,407 | ) | | | 315 | | | | 142,017 | | | | — | | | | 9,050 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 104,373 | | | | 744 | | | | (99,511 | ) | | | (5,606 | ) | | | — | | | | — | | | | 1,060 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 76,812 | | | | 167,876 | | | | (57,347 | ) | | | 532 | | | | 187,873 | | | | — | | | | 3,586 | | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 78,186 | | | | 31,025 | | | | (107,312 | ) | | | (1,899 | ) | | | — | | | | — | | | | 7,881 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 153,606 | | | | 14,762 | | | | (30,485 | ) | | | 3,284 | | | | 141,167 | | | | — | | | | 4,124 | | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 301,089 | | | | 55,208 | | | | (91,222 | ) | | | 18,815 | | | | 283,890 | | | | 1,280 | | | | 30,568 | | | | 11,223 | |
| Voya Short Term Bond Fund - Class R6 | | | 2,204,191 | | | | 314,341 | | | | (423,474 | ) | | | (7,744 | ) | | | 2,087,314 | | | | 50,509 | | | | (6,700 | ) | | | — | |
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | | | 435,424 | | | | 10,015 | | | | (443,169 | ) | | | (2,270 | ) | | | — | | | | — | | | | 21,081 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 211,344 | | | | 339,432 | | | | (116,429 | ) | | | 37,459 | | | | 471,806 | | | | — | | | | 16,741 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 1,198,732 | | | | 178,384 | | | | (418,995 | ) | | | (26,326 | ) | | | 931,795 | | | | — | | | | (1,704 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 1,044,387 | | | | 88,694 | | | | (235,572 | ) | | | 49,437 | | | | 946,946 | | | | — | | | | 19,968 | | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 163,279 | | | | 3,534 | | | | (132,172 | ) | | | (34,641 | ) | | | — | | | | — | | | | 50,297 | | | | — | |
| | | $ | 9,461,569 | | | $ | 2,349,198 | | | $ | (3,024,080 | ) | | $ | (14,115 | ) | | $ | 8,772,572 | | | $ | 135,055 | | | $ | 147,487 | | | $ | 11,223 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution Conservative Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $10,366,250. |
| Net unrealized depreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 249,233 | |
| Gross Unrealized Depreciation | | | (1,183,543 | ) |
| Net Unrealized Depreciation | | $ | (934,310 | ) |
See Accompanying Notes to Financial Statements
| Voya Solution Income Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 14.9% |
| 332,194 | | | Schwab U.S. TIPS ETF | | $ | 17,277,410 | | | | 10.0 | |
| 104,984 | | | Vanguard FTSE Developed Markets ETF | | | 5,188,309 | | | | 3.0 | |
| 58,657 | | | Vanguard Long-Term Treasury ETF | | | 3,383,336 | | | | 1.9 | |
| | | | Total Exchange-Traded Funds
(Cost $25,334,602) | | | 25,849,055 | | | | 14.9 | |
| |
| MUTUAL FUNDS: 85.1% |
| | | | Affiliated Investment Companies: 85.1% |
| 727,360 | | | Voya Global Bond Fund - Class R6 | | | 5,178,800 | | | | 3.0 | |
| 1,016,851 | | | Voya High Yield Bond Fund - Class R6 | | | 6,965,432 | | | | 4.0 | |
| 5,202,450 | | | Voya Intermediate Bond Fund - Class R6 | | | 44,949,172 | | | | 26.0 | |
| 1,104,642 | | | Voya Large Cap Value Portfolio - Class R6 | | | 6,926,107 | | | | 4.0 | |
| 336,817 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 3,489,419 | | | | 2.0 | |
| 745,206 | | | Voya Multi-Manager International Equity Fund - Class I | | | 7,757,599 | | | | 4.5 | |
| 347,625 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 3,455,388 | | | | 2.0 | |
| 46,434 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 3,473,711 | | | | 2.0 | |
| 1,690,516 | | | Voya Short Term Bond Fund - Class R6 | | | 15,671,083 | | | | 9.1 | |
| 380,385 | | | Voya U.S. Stock Index Portfolio - Class I | | | 7,794,086 | | | | 4.5 | |
| 1,827,695 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 17,125,507 | | | | 9.9 | |
| 621,641 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 17,381,096 | | | | 10.1 | |
| 309,185 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 3,465,965 | | | | 2.0 | |
| | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| MUTUAL FUNDS: (continued) |
| | | | Affiliated Investment Companies: (continued) |
| 33,722 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 3,469,656 | | | | 2.0 | |
| | | | | | | | | | | | |
| | | Total Mutual Funds
(Cost $150,382,485) | | | 147,103,021 | | | | 85.1 | |
| | | | | | | | | | | | |
| | | Total Long-Term Investments
(Cost $175,717,087) | | | 172,952,076 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Total Investments in Securities
(Cost $175,717,087) | | $ | 172,952,076 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Liabilities in Excess of Other Assets | | | (80,123) | | | | 0.0 | |
| | | Net Assets | | $ | 172,871,953 | | | | 100.0 | |
See Accompanying Notes to Financial Statements
| Voya Solution Income Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 25,849,055 | | | $ | — | | | $ | — | | | $ | 25,849,055 | |
| Mutual Funds | | | 147,103,021 | | | | — | | | | — | | | | 147,103,021 | |
| Total Investments, at fair value | | $ | 172,952,076 | | | $ | — | | | $ | — | | | $ | 172,952,076 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Global Bond Fund - Class R6 | | $ | 5,499,096 | | | $ | 426,289 | | | $ | (660,486 | ) | | $ | (86,099 | ) | | $ | 5,178,800 | | | $ | 114,841 | | | $ | (153,775 | ) | | $ | — | |
| Voya High Yield Bond Fund - Class R6 | | | 7,464,269 | | | | 330,601 | | | | (893,554 | ) | | | 64,116 | | | | 6,965,432 | | | | 238,747 | | | | (128,200 | ) | | | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 43,208,479 | | | | 7,977,084 | | | | (6,717,816 | ) | | | 481,425 | | | | 44,949,172 | | | | 978,824 | | | | (1,196,593 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | — | | | | 7,091,968 | | | | (419,049 | ) | | | 253,188 | | | | 6,926,107 | | | | — | | | | 11,548 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 3,689,397 | | | | 128,645 | | | | (500,811 | ) | | | 172,188 | | | | 3,489,419 | | | | — | | | | 75,196 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 3,521,372 | | | | 4,796,827 | | | | (804,914 | ) | | | 244,314 | | | | 7,757,599 | | | | — | | | | (65,135 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 3,501,566 | | | | 266,505 | | | | (3,670,108 | ) | | | (97,963 | ) | | | — | | | | — | | | | 315,987 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,851,490 | | | | 1,868,617 | | | | (350,967 | ) | | | 86,248 | | | | 3,455,388 | | | | — | | | | (52,495 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 6,749,542 | | | | 164,543 | | | | (3,049,151 | ) | | | (391,223 | ) | | | 3,473,711 | | | | 14,757 | | | | 1,247,710 | | | | 129,397 | |
| Voya Short Term Bond Fund - Class R6 | | | 16,258,932 | | | | 1,036,653 | | | | (1,575,916 | ) | | | (48,586 | ) | | | 15,671,083 | | | | 362,005 | | | | (55,783 | ) | | | — | |
| Voya Small Company Fund - Class R6 | | | 1,942,052 | | | | 1,185 | | | | (1,693,992 | ) | | | (249,245 | ) | | | — | | | | — | | | | 209,481 | | | | — | |
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | | | 11,049,927 | | | | 7,113 | | | | (11,707,352 | ) | | | 650,312 | | | | — | | | | — | | | | (189,289 | ) | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 4,759,234 | | | | 6,986,252 | | | | (4,084,845 | ) | | | 133,445 | | | | 7,794,086 | | | | — | | | | 837,312 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 21,454,710 | | | | 2,246,776 | | | | (7,396,650 | ) | | | 820,671 | | | | 17,125,507 | | | | — | | | | (1,384,086 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 18,673,616 | | | | 93,055 | | | | (2,754,598 | ) | | | 1,369,023 | | | | 17,381,096 | | | | — | | | | (163,170 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,848,569 | | | | 1,862,814 | | | | (516,864 | ) | | | 271,446 | | | | 3,465,965 | | | | — | | | | (146,274 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 4,794,756 | | | | 19,204 | | | | (2,006,674 | ) | | | 662,370 | | | | 3,469,656 | | | | — | | | | 117,122 | | | | — | |
| | | $ | 156,267,007 | | | $ | 35,304,131 | | | $ | (48,803,747 | ) | | $ | 4,335,630 | | | $ | 147,103,021 | | | $ | 1,709,174 | | | $ | (720,444 | ) | | $ | 129,397 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution Income Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $183,848,219. | | | |
| Net unrealized depreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 4,513,247 | |
| Gross Unrealized Depreciation | | | (15,409,391 | ) |
| Net Unrealized Depreciation | | $ | (10,896,144 | ) |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 2.0% |
| 161,007 | | | Vanguard Long-Term Treasury ETF | | $ | 9,286,884 | | | | 2.0 | |
| | | Total Exchange-Traded Funds
(Cost $9,774,410) | | | 9,286,884 | | | | 2.0 | |
| |
| MUTUAL FUNDS: 98.0% |
| | | | Affiliated Investment Companies: 98.0% |
| 4,937,348 | | | Voya Intermediate Bond Fund - Class R6 | | | 42,658,687 | | | | 9.0 | |
| 1,661,559 | | | Voya International Index Portfolio - Class I | | | 18,858,694 | | | | 4.0 | |
| 3,786,317 | | | Voya Large Cap Value Portfolio - Class R6 | | | 23,740,205 | | | | 5.0 | |
| 923,441 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 9,566,848 | | | | 2.0 | |
| 2,498,160 | | | Voya Multi-Manager International Equity Fund - Class I | | | 26,005,849 | | | | 5.5 | |
| 2,621,288 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 26,055,601 | | | | 5.5 | |
| 318,236 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 23,807,247 | | | | 5.0 | |
| 1,545,021 | | | Voya Short Term Bond Fund - Class R6 | | | 14,322,349 | | | | 3.0 | |
| 214,986 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 9,577,637 | | | | 2.0 | |
| 980,528 | | | Voya Small Company Fund - Class R6 | | | 14,551,041 | | | | 3.1 | |
| 6,605,253 | | | Voya U.S. Stock Index Portfolio - Class I | | | 135,341,632 | | | | 28.5 | |
| 2,004,630 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 18,783,383 | | | | 3.9 | |
| 652,028 | | | VY® Invesco Comstock Portfolio - Class I | | | 14,272,888 | | | | 3.0 | |
| 1,704,475 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 47,657,108 | | | | 10.0 | |
| 2,331,475 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 26,135,833 | | | | 5.5 | |
| | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| MUTUAL FUNDS: (continued) |
| | | | Affiliated Investment Companies: (continued) |
| 138,674 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 14,268,168 | | | | 3.0 | |
| | | | | | | | | | | | |
| | | Total Mutual Funds
(Cost $425,377,676) | | | 465,603,170 | | | | 98.0 | |
| | | | | | | | | | | | |
| | | Total Long-Term Investments
(Cost $435,152,086) | | | 474,890,054 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Total Investments in Securities
(Cost $435,152,086) | | $ | 474,890,054 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Assets in Excess of Other Liabilities | | | 2,858 | | | | 0.0 | |
| | | Net Assets | | $ | 474,892,912 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 9,286,884 | | | $ | — | | | $ | — | | | $ | 9,286,884 | |
| Mutual Funds | | | 465,603,170 | | | | — | | | | — | | | | 465,603,170 | |
| Total Investments, at fair value | | $ | 474,890,054 | | | $ | — | | | $ | — | | | $ | 474,890,054 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized Gains/ (Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 45,375,169 | | | $ | 5,076,873 | | | $ | (8,124,016 | ) | | $ | 330,661 | | | $ | 42,658,687 | | | $ | 992,316 | | | $ | (1,147,321 | ) | | $ | — | |
| Voya International Index Portfolio - Class I | | | — | | | | 19,751,070 | | | | (790,035 | ) | | | (102,341 | ) | | | 18,858,694 | | | | 396,995 | | | | 13,199 | | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 21,321,788 | | | | 2,568,486 | | | | (4,858,099 | ) | | | 4,708,030 | | | | 23,740,205 | | | | — | | | | (2,807,353 | ) | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 14,010,087 | | | | 763,672 | | | | (5,473,644 | ) | | | 266,733 | | | | 9,566,848 | | | | — | | | | 463,305 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 13,566,178 | | | | 13,306,434 | | | | (1,467,470 | ) | | | 600,707 | | | | 26,005,849 | | | | — | | | | (130,280 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 18,334,990 | | | | 878,506 | | | | (18,852,212 | ) | | | (361,284 | ) | | | — | | | | — | | | | 1,435,360 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 20,895,931 | | | | 6,100,995 | | | | (1,570,845 | ) | | | 629,520 | | | | 26,055,601 | | | | — | | | | 232,575 | | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 19,283,280 | | | | 5,491,320 | | | | (3,080,716 | ) | | | 2,113,363 | | | | 23,807,247 | | | | 99,186 | | | | 1,403,071 | | | | 869,700 | |
| Voya Short Term Bond Fund - Class R6 | | | 13,538,920 | | | | 1,888,766 | | | | (1,017,026 | ) | | | (88,311 | ) | | | 14,322,349 | | | | 321,056 | | | | (3,404 | ) | | | — | |
| Voya Small Cap Growth Fund - Class R6 | | | 9,583,248 | | | | 24,383 | | | | (959,651 | ) | | | 929,657 | | | | 9,577,637 | | | | — | | | | 178,092 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 14,336,716 | | | | 1,383,574 | | | | (953,979 | ) | | | (215,270 | ) | | | 14,551,041 | | | | — | | | | 59,643 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 134,732,287 | | | | 8,596,264 | | | | (29,460,070 | ) | | | 21,473,151 | | | | 135,341,632 | | | | — | | | | (2,136,966 | ) | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 17,967,120 | | | | 2,778,272 | | | | (1,912,907 | ) | | | (49,102 | ) | | | 18,783,383 | | | | — | | | | (392,475 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 16,599,083 | | | | 37,865 | | | | (3,423,547 | ) | | | 1,059,487 | | | | 14,272,888 | | | | — | | | | 197,619 | | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 46,765,306 | | | | 1,053,536 | | | | (3,587,924 | ) | | | 3,426,190 | | | | 47,657,108 | | | | — | | | | (209,185 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 20,876,076 | | | | 6,115,358 | | | | (3,359,883 | ) | | | 2,504,282 | | | | 26,135,833 | | | | — | | | | (872,616 | ) | | | — | |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Aggressive Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 19,162,434 | | | $ | 39,154 | | | $ | (7,897,447 | ) | | $ | 2,964,027 | | | $ | 14,268,168 | | | $ | — | | | $ | 247,984 | | | $ | — | |
| | | $ | 446,348,613 | | | $ | 75,854,528 | | | $ | (96,789,471 | ) | | $ | 40,189,500 | | | $ | 465,603,170 | | | $ | 1,809,553 | | | $ | (3,468,752 | ) | | $ | 869,700 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $450,718,118. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 45,781,392 | |
| Gross Unrealized Depreciation | | | (21,609,455 | ) |
| Net Unrealized Appreciation | | $ | 24,171,937 | |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Conservative Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 4.9% |
| 18,147 | | | Schwab U.S. TIPS ETF | | $ | 943,826 | | | | 3.0 | |
| 10,681 | | | Vanguard Long-Term Treasury ETF | | | 616,080 | | | | 1.9 | |
| | | | Total Exchange-Traded Funds
(Cost $1,633,482) | | | 1,559,906 | | | | 4.9 | |
| | | | | | | | | | | | |
| MUTUAL FUNDS: 95.1% |
| | | | Affiliated Investment Companies: 95.1% |
| 177,005 | | | Voya Global Bond Fund - Class R6 | | | 1,260,277 | | | | 4.0 | |
| 231,979 | | | Voya High Yield Bond Fund - Class R6 | | | 1,589,054 | | | | 5.0 | |
| 840,312 | | | Voya Intermediate Bond Fund - Class R6 | | | 7,260,296 | | | | 23.0 | |
| 252,021 | | | Voya Large Cap Value Portfolio - Class R6 | | | 1,580,174 | | | | 5.0 | |
| 147,382 (1) | | | Voya MidCap Opportunities Portfolio - Class R6 | | | 792,914 | | | | 2.5 | |
| 136,050 | | | Voya Multi-Manager International Equity Fund - Class I | | | 1,416,276 | | | | 4.5 | |
| 79,309 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 788,328 | | | | 2.5 | |
| 12,711 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 950,935 | | | | 3.0 | |
| 377,097 | | | Voya Short Term Bond Fund - Class R6 | | | 3,495,690 | | | | 11.1 | |
| 43,510 | | | Voya Small Company Fund - Class R6 | | | 645,694 | | | | 2.1 | |
| 177,417 | | | Voya U.S. Stock Index Portfolio - Class I | | | 3,635,281 | | | | 11.5 | |
| 300,348 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 2,814,258 | | | | 8.9 | |
| 113,457 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 3,172,257 | | | | 10.0 | |
| 6,155 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 633,238 | | | | 2.0 | |
| | | | | | | | | | | | |
| | | Total Mutual Funds
(Cost $29,884,123) | | | 30,034,672 | | | | 95.1 | |
| | | | | | | | | | | | |
| | | Total Long-Term Investments
(Cost $31,517,605) | | | 31,594,578 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Total Investments in Securities
(Cost $31,517,605) | | $ | 31,594,578 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | Liabilities in Excess of Other Assets | | | (11,509) | | | | 0.0 | |
| | | Net Assets | | $ | 31,583,069 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Conservative Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 1,559,906 | | | $ | — | | | $ | — | | | $ | 1,559,906 | |
| Mutual Funds | | | 30,034,672 | | | | — | | | | — | | | | 30,034,672 | |
| Total Investments, at fair value | | $ | 31,594,578 | | | $ | — | | | $ | — | | | $ | 31,594,578 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Global Bond Fund - Class R6 | | $ | 1,239,386 | | | $ | 159,266 | | | $ | (106,254 | ) | | $ | (32,121 | ) | | $ | 1,260,277 | | | $ | 27,206 | | | $ | (23,911 | ) | | $ | — | |
| Voya High Yield Bond Fund - Class R6 | | | 1,575,399 | | | | 137,035 | | | | (129,062 | ) | | | 5,682 | | | | 1,589,054 | | | | 52,973 | | | | (19,327 | ) | | | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 7,060,458 | | | | 869,033 | | | | (636,159 | ) | | | (33,036 | ) | | | 7,260,296 | | | | 163,741 | | | | (90,639 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | — | | | | 1,598,574 | | | | (75,466 | ) | | | 57,066 | | | | 1,580,174 | | | | — | | | | 2,297 | | | | — | |
| Voya MidCap Opportunities Portfolio - Class R6 | | | 476,992 | | | | 381,667 | | | | (63,015 | ) | | | (2,730 | ) | | | 792,914 | | | | — | | | | 23,483 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 629,404 | | | | 27,384 | | | | (613,245 | ) | | | (43,543 | ) | | | — | | | | — | | | | 50,050 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 700,117 | | | | 765,490 | | | | (63,346 | ) | | | 14,015 | | | | 1,416,276 | | | | — | | | | 7,264 | | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 711,362 | | | | 21,203 | | | | (696,133 | ) | | | (36,432 | ) | | | — | | | | — | | | | 80,295 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 469,360 | | | | 361,449 | | | | (58,776 | ) | | | 16,295 | | | | 788,328 | | | | — | | | | (3,288 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,301,798 | | | | 80,960 | | | | (446,649 | ) | | | 14,826 | | | | 950,935 | | | | 4,005 | | | | 173,422 | | | | 35,119 | |
| Voya Short Term Bond Fund - Class R6 | | | 3,346,870 | | | | 397,486 | | | | (232,206 | ) | | | (16,460 | ) | | | 3,495,690 | | | | 78,578 | | | | (5,764 | ) | | | — | |
| Voya Small Company Fund - Class R6 | | | 655,024 | | | | 57,006 | | | | (55,377 | ) | | | (10,959 | ) | | | 645,694 | | | | — | | | | 3,025 | | | | — | |
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | | | 1,555,351 | | | | 24,951 | | | | (1,696,078 | ) | | | 115,776 | | | | — | | | | — | | | | (48,942 | ) | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 2,067,749 | | | | 2,259,272 | | | | (936,295 | ) | | | 244,555 | | | | 3,635,281 | | | | — | | | | 176,672 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 3,034,591 | | | | 318,707 | | | | (560,604 | ) | | | 21,564 | | | | 2,814,258 | | | | — | | | | (94,988 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 639,179 | | | | 9,980 | | | | (678,255 | ) | | | 29,096 | | | | — | | | | — | | | | (5,444 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 3,153,737 | | | | 122,825 | | | | (331,884 | ) | | | 227,579 | | | | 3,172,257 | | | | — | | | | (13,497 | ) | | | — | |
See Accompanying Notes to Financial Statements
Voya Solution Moderately
Conservative Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 971,010 | | | $ | 29,556 | | | $ | (431,147 | ) | | $ | 63,819 | | | $ | 633,238 | | | $ | — | | | $ | 89,470 | | | $ | — | |
| | | $ | 29,587,787 | | | $ | 7,621,844 | | | $ | (7,809,951 | ) | | $ | 634,992 | | | $ | 30,034,672 | | | $ | 326,503 | | | $ | 300,178 | | | $ | 35,119 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $34,098,832. | | | |
| Net unrealized depreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 1,097,805 | |
| Gross Unrealized Depreciation | | | (3,602,059 | ) |
| Net Unrealized Depreciation | | $ | (2,504,254 | ) |
See Accompanying Notes to Financial Statements
| Voya Solution 2025 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 12.2% |
| 569,152 | | | Schwab U.S. TIPS ETF | | $ | 29,601,596 | | | | 7.0 | |
| 278,370 | | | Vanguard FTSE Developed Markets ETF | | | 13,757,045 | | | | 3.2 | |
| 143,569 | | | Vanguard Long-Term Treasury ETF | | | 8,281,060 | | | | 2.0 | |
| | | | Total Exchange-Traded Funds (Cost $49,934,592) | | | 51,639,701 | | | | 12.2 | |
| | | | | | | | | | | | |
| MUTUAL FUNDS: 87.8% |
| | | | Affiliated Investment Companies: 87.8% |
| 1,781,614 | | | Voya Global Bond Fund - Class R6 | | | 12,685,092 | | | | 3.0 | |
| 1,556,181 | | | Voya High Yield Bond Fund - Class R6 | | | 10,659,840 | | | | 2.5 | |
| 11,520,387 | | | Voya Intermediate Bond Fund - Class R6 | | | 99,536,145 | | | | 23.5 | |
| 2,706,193 | | | Voya Large Cap Value Portfolio - Class R6 | | | 16,967,828 | | | | 4.0 | |
| 824,931 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 8,546,284 | | | | 2.0 | |
| 3,449,615 | | | Voya Multi-Manager International Equity Fund - Class I | | | 35,910,494 | | | | 8.5 | |
| 957,437 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 9,516,926 | | | | 2.2 | |
| 113,723 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 8,507,621 | | | | 2.0 | |
| 1,725,076 | | | Voya Short Term Bond Fund - Class R6 | | | 15,991,456 | | | | 3.8 | |
| 72,021 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 3,208,540 | | | | 0.8 | |
| 218,981 | | | Voya Small Company Fund - Class R6 | | | 3,249,679 | | | | 0.8 | |
| 2,898,676 | | | Voya U.S. Stock Index Portfolio - Class I | | | 59,393,865 | | | | 14.0 | |
| 2,798,438 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 26,221,367 | | | | 6.2 | |
| 1,522,673 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 42,573,944 | | | | 10.0 | |
| 946,696 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 10,612,457 | | | | 2.5 | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| MUTUAL FUNDS: (continued) | | | | | | |
| | | | Affiliated Investment Companies: (continued) | | | |
| 82,588 | | | VY® T. Rowe Price Growth Equity Portfolio- Class I | | $ | 8,497,469 | | | | 2.0 | |
| | | | | | | | | | | | |
| | | | Total Mutual Funds
(Cost $362,336,645) | | | 372,079,007 | | | | 87.8 | |
| | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $412,271,237) | | | 423,718,708 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | | Total Investments in Securities | | | | | | | | |
| | | | (Cost $412,271,237) | | $ | 423,718,708 | | | | 100.0 | |
| | | | | | | | | | | | |
| | | | Liabilities in Excess of Other Assets | | | (71,380) | | | | 0.0 | |
| | | | Net Assets | | $ | 423,647,328 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2025 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 51,639,701 | | | $ | — | | | $ | — | | | $ | 51,639,701 | |
| Mutual Funds | | | 372,079,007 | | | | — | | | | — | | | | 372,079,007 | |
| Total Investments, at fair value | | $ | 423,718,708 | | | $ | — | | | $ | — | | | $ | 423,718,708 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Global Bond Fund - Class R6 | | $ | 13,215,337 | | | $ | 1,375,818 | | | $ | (1,752,694 | ) | | $ | (153,369 | ) | | $ | 12,685,092 | | | $ | 281,864 | | | $ | (430,346 | ) | | $ | — | |
| Voya High Yield Bond Fund - Class R6 | | | 8,960,486 | | | | 2,679,676 | | | | (884,547 | ) | | | (95,775 | ) | | | 10,659,840 | | | | 304,437 | | | | 29,315 | | | | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 90,086,678 | | | | 23,241,860 | | | | (14,664,813 | ) | | | 872,420 | | | | 99,536,145 | | | | 2,161,992 | | | | (2,379,594 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | — | | | | 17,864,426 | | | | (1,503,675 | ) | | | 607,077 | | | | 16,967,828 | | | | — | | | | 44,670 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 13,427,962 | | | | 52,729 | | | | (5,017,384 | ) | | | 82,977 | | | | 8,546,284 | | | | — | | | | 327,363 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 17,200,503 | | | | 22,214,704 | | | | (4,612,060 | ) | | | 1,107,347 | | | | 35,910,494 | | | | — | | | | (608,833 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 21,811,000 | | | | 912,172 | | | | (23,115,110 | ) | | | 391,938 | | | | — | | | | — | | | | 918,340 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 6,673,393 | | | | 4,182,650 | | | | (1,782,894 | ) | | | 443,777 | | | | 9,516,926 | | | | — | | | | (254,258 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 13,893,772 | | | | 408,264 | | | | (5,337,202 | ) | | | (457,213 | ) | | | 8,507,621 | | | | 35,653 | | | | 2,326,779 | | | | 312,619 | |
| Voya Short Term Bond Fund - Class R6 | | | 13,038,691 | | | | 4,409,293 | | | | (1,381,019 | ) | | | (75,509 | ) | | | 15,991,456 | | | | 313,052 | | | | (4,124 | ) | | | — | |
| Voya Small Cap Growth Fund - Class R6 | | | 4,590,781 | | | | 41,066 | | | | (1,573,792 | ) | | | 150,485 | | | | 3,208,540 | | | | — | | | | 277,651 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 4,662,558 | | | | 103,996 | | | | (1,362,251 | ) | | | (154,624 | ) | | | 3,249,679 | | | | — | | | | 76,043 | | | | — | |
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | | | 22,117,029 | | | | 42,770 | | | | (25,444,691 | ) | | | 3,284,892 | | | | — | | | | — | | | | (2,348,305 | ) | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 70,134,229 | | | | 5,515,918 | | | | (26,214,767 | ) | | | 9,958,485 | | | | 59,393,865 | | | | — | | | | (330,155 | ) | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 29,858,780 | | | | 6,396,029 | | | | (11,666,544 | ) | | | 1,633,102 | | | | 26,221,367 | | | | — | | | | (2,410,718 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 44,846,167 | | | | 336,714 | | | | (5,662,871 | ) | | | 3,053,934 | | | | 42,573,944 | | | | — | | | | (109,935 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 6,666,617 | | | | 4,709,574 | | | | (1,820,382 | ) | | | 1,056,648 | | | | 10,612,457 | | | | — | | | | (579,231 | ) | | | — | |
See Accompanying Notes to Financial Statements
| Voya Solution 2025 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/ (Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 9,210,970 | | | $ | 51,438 | | | $ | (2,139,258 | ) | | $ | 1,374,319 | | | $ | 8,497,469 | | | $ | — | | | $ | 293,707 | | | $ | — | |
| | | $ | 390,394,953 | | | $ | 94,539,097 | | | $ | (135,935,954 | ) | | $ | 23,080,911 | | | $ | 372,079,007 | | | $ | 3,096,998 | | | $ | (5,161,631 | ) | | $ | 312,619 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $432,616,907. | | | |
| Net unrealized depreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 23,181,303 | |
| Gross Unrealized Depreciation | | | (32,079,502 | ) |
| Net Unrealized Depreciation | | $ | (8,898,199 | ) |
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2030 Portfolio | |
| as of June 30, 2024 (Unaudited) | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 10.0% |
| 31,982 | | | Schwab U.S. TIPS ETF | | $ | 1,663,384 | | | | 3.0 | |
| 56,152 | | | Vanguard FTSE Developed Markets ETF | | | 2,775,032 | | | | 5.0 | |
| 18,824 | | | Vanguard Long-Term Treasury ETF | | | 1,085,768 | | | | 2.0 | |
| | | | Total Exchange-Traded Funds
(Cost $5,119,680) | | | 5,524,184 | | | | 10.0 | |
| MUTUAL FUNDS: 90.1% |
| | | | Affiliated Investment Companies: 90.1% |
| 163,451 | | | Voya High Yield Bond Fund - Class R6 | | | 1,119,642 | | | | 2.0 | |
| 1,287,152 | | | Voya Intermediate Bond Fund - Class R6 | | | 11,120,994 | | | | 20.0 | |
| 266,386 | | | Voya Large Cap Value Portfolio - Class R6 | | | 1,670,240 | | | | 3.0 | |
| 108,285 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,121,829 | | | | 2.0 | |
| 559,591 | | | Voya Multi-Manager International Equity Fund - Class I | | | 5,825,344 | | | | 10.5 | |
| 167,655 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,666,491 | | | | 3.0 | |
| 22,391 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 1,675,051 | | | | 3.0 | |
| 120,775 | | | Voya Short Term Bond Fund - Class R6 | | | 1,119,589 | | | | 2.0 | |
| 12,604 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 561,521 | | | | 1.0 | |
| 76,648 | | | Voya Small Company Fund - Class R6 | | | 1,137,458 | | | | 2.1 | |
| 502,773 | | | Voya U.S. Stock Index Portfolio - Class I | | | 10,301,818 | | | | 18.5 | |
| 352,741 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 3,305,184 | | | | 5.9 | |
| 50,971 | | | VY® Invesco Comstock Portfolio - Class I | | | 1,115,748 | | | | 2.0 | |
| 199,865 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 5,588,236 | | | | 10.1 | |
| 149,116 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,671,588 | | | | 3.0 | |
| Shares | | | | Value | | | Percentage
of Net
Assets | |
| MUTUAL FUNDS: (continued) |
| | | Affiliated Investment Companies: (continued) |
| 10,841 | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 1,115,411 | | | | 2.0 | |
| | | | | | | | | | | |
| | | Total Mutual Funds (Cost $46,595,688) | | | 50,116,144 | | | | 90.1 | |
| | | | | | | | | | | |
| | | Total Long-Term Investments (Cost $51,715,368) | | | 55,640,328 | | | | 100.1 | |
| | | | | | | | | | | |
| | | Total Investments in Securities (Cost $51,715,368) | | $ | 55,640,328 | | | | 100.1 | |
| | | Liabilities in Excess of Other Assets | | | (34,797) | | | | (0.1) | |
| | | Net Assets | | $ | 55,605,531 | | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2030 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 5,524,184 | | | $ | — | | | $ | — | | | $ | 5,524,184 | |
| Mutual Funds | | | 50,116,144 | | | | — | | | | — | | | | 50,116,144 | |
| Total Investments, at fair value | | $ | 55,640,328 | | | $ | — | | | $ | — | | | $ | 55,640,328 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning
Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales
at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net
Capital
Gain Distributions | |
Voya High Yield Bond Fund - Class R6 | | $ | 1,074,319 | | | $ | 189,053 | | | $ | (130,277 | ) | | $ | (13,453 | ) | | $ | 1,119,642 | | | $ | 36,217 | | | $ | 4,417 | | | $ | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 9,466,225 | | | | 3,307,889 | | | | (1,589,792 | ) | | | (63,328 | ) | | | 11,120,994 | | | | 231,487 | | | | (90,189 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | — | | | | 1,715,545 | | | | (103,837 | ) | | | 58,532 | | | | 1,670,240 | | | | — | | | | 3,326 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 2,147,738 | | | | 147,195 | | | | (1,137,341 | ) | | | (35,763 | ) | | | 1,121,829 | | | | — | | | | 97,130 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 2,669,938 | | | | 3,713,127 | | | | (651,361 | ) | | | 93,640 | | | | 5,825,344 | | | | — | | | | (14,731 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 3,229,526 | | | | 414,459 | | | | (3,510,025 | ) | | | (133,960 | ) | | | — | | | | — | | | | 338,080 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,068,541 | | | | 732,861 | | | | (200,408 | ) | | | 65,497 | | | | 1,666,491 | | | | — | | | | (30,366 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,664,112 | | | | 236,572 | | | | (347,417 | ) | | | 121,784 | | | | 1,675,051 | | | | 6,933 | | | | 147,938 | | | | 60,791 | |
| Voya Short Term Bond Fund - Class R6 | | | 1,040,822 | | | | 220,177 | | | | (134,977 | ) | | | (6,433 | ) | | | 1,119,589 | | | | 24,433 | | | | (283 | ) | | | — | |
| Voya Small Cap Growth Fund - Class R6 | | | 550,108 | | | | 56,283 | | | | (92,175 | ) | | | 47,305 | | | | 561,521 | | | | — | | | | 16,001 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 1,115,282 | | | | 184,294 | | | | (141,305 | ) | | | (20,813 | ) | | | 1,137,458 | | | | — | | | | 9,721 | | | | — | |
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | | | 1,592,798 | | | | 72,956 | | | | (1,759,046 | ) | | | 93,292 | | | | — | | | | — | | | | (25,229 | ) | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 10,584,132 | | | | 1,349,672 | | | | (2,711,674 | ) | | | 1,079,688 | | | | 10,301,818 | | | | — | | | | 423,376 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 3,603,507 | | | | 886,752 | | | | (1,252,985 | ) | | | 67,910 | | | | 3,305,184 | | | | — | | | | (160,092 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 1,088,743 | | | | 112,566 | | | | (181,837 | ) | | | 96,276 | | | | 1,115,748 | | | | — | | | | (7,151 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 5,378,607 | | | | 590,161 | | | | (902,167 | ) | | | 521,635 | | | | 5,588,236 | | | | — | | | | (153,678 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,068,407 | | | | 737,198 | | | | (265,995 | ) | | | 131,978 | | | | 1,671,588 | | | | — | | | | (52,714 | ) | | | — | |
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2030 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
Issuer | | Beginning
Fair Value at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at 6/30/2024 | | | Investment
Income | | | Realized Gains/ (Losses) | | | Net
Capital
Gain Distributions | |
VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 1,102,836 | | | $ | 112,565 | | | $ | (238,821 | ) | | $ | 138,831 | | | $ | 1,115,411 | | | $ | — | | | $ | 68,711 | | | $ | — | |
| | | $ | 48,445,641 | | | $ | 14,779,325 | | | $ | (15,351,440 | ) | | $ | 2,242,618 | | | $ | 50,116,144 | | | $ | 299,070 | | | $ | 574,267 | | | $ | 60,791 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $56,499,955. |
| Net unrealized depreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 3,944,944 | |
| Gross Unrealized Depreciation | | | (4,804,571 | ) |
| Net Unrealized Depreciation | | $ | (859,627 | ) |
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2035 Portfolio | |
| as of June 30, 2024 (Unaudited) | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 8.4% |
| 784,564 | | | Vanguard FTSE Developed Markets ETF | | $ | 38,773,153 | | | | 6.5 | |
| 202,319 | | | Vanguard Long-Term Treasury ETF | | | 11,669,760 | | | | 1.9 | |
| | | | Total Exchange-Traded Funds
(Cost $42,919,112) | | | 50,442,913 | | | | 8.4 | |
| MUTUAL FUNDS: 91.6% |
| | | | Affiliated Investment Companies: 91.6% |
| 1,752,924 | | | Voya High Yield Bond Fund - Class R6 | | | 12,007,530 | | | | 2.0 | |
| 11,039,607 | | | Voya Intermediate Bond Fund - Class R6 | | | 95,382,202 | | | | 16.0 | |
| 2,856,757 | | | Voya Large Cap Value Portfolio - Class R6 | | | 17,911,866 | | | | 3.0 | |
| 1,741,859 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 18,045,654 | | | | 3.0 | |
| 6,851,118 | | | Voya Multi-Manager International Equity Fund - Class I | | | 71,320,133 | | | | 12.0 | |
| 1,797,980 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 17,871,923 | | | | 3.0 | |
| 240,115 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 17,963,003 | | | | 3.0 | |
| 135,172 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 6,021,901 | | | | 1.0 | |
| 822,002 | | | Voya Small Company Fund - Class R6 | | | 12,198,513 | | | | 2.1 | |
| 7,431,847 | | | Voya U.S. Stock Index Portfolio - Class I | | | 152,278,542 | | | | 25.5 | |
| 2,521,026 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 23,622,011 | | | | 4.0 | |
| 546,616 | | | VY® Invesco Comstock Portfolio - Class I | | | 11,965,424 | | | | 2.0 | |
| 2,143,382 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 59,928,957 | | | | 10.0 | |
| 1,599,156 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 17,926,537 | | | | 3.0 | |
| Shares | | | | Value | | | Percentage
of Net
Assets |
| MUTUAL FUNDS: (continued) |
| | | Affiliated Investment Companies: (continued) |
| 116,258 | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 11,961,811 | | | | 2.0 | |
| | | | | | | | | | | |
| | | Total Mutual Funds (Cost $508,464,559) | | | 546,406,007 | | | | 91.6 | |
| | | | | | | | | | | |
| | | Total Long-Term Investments (Cost $551,383,671) | | | 596,848,920 | | | | 100.0 | |
| | | | | | | | | | | |
| | | Total Investments in Securities
(Cost $551,383,671) | | $ | 596,848,920 | | | | 100.0 | |
| | | Liabilities in Excess of Other Assets | | | (113,270) | | | | 0.0 | |
| | | Net Assets | | $ | 596,735,650 | | | | 100.0 | |
(1) Non-income producing security.
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2035 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 50,442,913 | | | $ | — | | | $ | — | | | $ | 50,442,913 | |
| Mutual Funds | | | 546,406,007 | | | | — | | | | — | | | | 546,406,007 | |
| Total Investments, at fair value | | $ | 596,848,920 | | | $ | — | | | $ | — | | | $ | 596,848,920 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning
Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales
at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net
Capital
Gain Distributions | |
Voya High Yield Bond Fund - Class R6 | | $ | 11,582,297 | | | $ | 1,247,621 | | | $ | (698,928 | ) | | $ | (123,460 | ) | | $ | 12,007,530 | | | $ | 393,422 | | | $ | 22,865 | | | $ | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 79,521,179 | | | | 23,148,991 | | | | (6,921,166 | ) | | | (366,802 | ) | | | 95,382,202 | | | | 1,983,928 | | | | (966,342 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 17,610,932 | | | | 386,854 | | | | (3,770,389 | ) | | | 3,684,469 | | | | 17,911,866 | | | | — | | | | (2,199,253 | ) | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 29,217,667 | | | | 361,089 | | | | (15,394,602 | ) | | | 3,861,500 | | | | 18,045,654 | | | | — | | | | (2,800,653 | ) | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 34,607,761 | | | | 39,366,276 | | | | (4,638,330 | ) | | | 1,984,426 | | | | 71,320,133 | | | | — | | | | (935,456 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 40,674,015 | | | | 1,578,536 | | | | (43,868,968 | ) | | | 1,616,417 | | | | — | | | | — | | | | 910,347 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 11,513,854 | | | | 6,947,904 | | | | (991,039 | ) | | | 401,204 | | | | 17,871,923 | | | | — | | | | (30,736 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 17,916,410 | | | | 1,039,863 | | | | (2,733,255 | ) | | | 1,739,985 | | | | 17,963,003 | | | | 74,302 | | | | 1,198,929 | | | | 651,508 | |
| Voya Small Cap Growth Fund - Class R6 | | | 5,936,683 | | | | 104,685 | | | | (598,392 | ) | | | 578,925 | | | | 6,021,901 | | | | — | | | | 103,834 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 11,885,845 | | | | 1,166,290 | | | | (679,012 | ) | | | (174,610 | ) | | | 12,198,513 | | | | — | | | | 42,781 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 143,315,127 | | | | 15,415,409 | | | | (26,104,968 | ) | | | 19,652,974 | | | | 152,278,542 | | | | — | | | | 1,648,510 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 28,204,300 | | | | 3,781,330 | | | | (9,387,400 | ) | | | 1,023,781 | | | | 23,622,011 | | | | — | | | | (1,792,277 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 17,530,366 | | | | 240,882 | | | | (6,616,218 | ) | | | 810,394 | | | | 11,965,424 | | | | — | | | | 368,626 | | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 57,898,732 | | | | 1,705,851 | | | | (3,914,232 | ) | | | 4,238,606 | | | | 59,928,957 | | | | — | | | | (264,338 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 11,654,664 | | | | 6,886,680 | | | | (2,213,485 | ) | | | 1,598,678 | | | | 17,926,537 | | | | — | | | | (741,172 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 17,810,998 | | | | 240,883 | | | | (9,754,092 | ) | | | 3,664,022 | | | | 11,961,811 | | | | — | | | | (825,013 | ) | | | — | |
| | | $ | 536,880,830 | | | $ | 103,619,144 | | | $ | (138,284,476 | ) | | $ | 44,190,509 | | | $ | 546,406,007 | | | $ | 2,451,652 | | | $ | (6,259,348 | ) | | $ | 651,508 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2035 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $574,323,877. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 52,650,808 | |
| Gross Unrealized Depreciation | | | (30,125,765 | ) |
| Net Unrealized Appreciation | | $ | 22,525,043 | |
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2040 Portfolio | |
| as of June 30, 2024 (Unaudited) | |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 9.4% |
| 68,372 | | | Vanguard FTSE Developed Markets ETF | | $ | 3,378,944 | | | | 7.5 | |
| 15,281 | | | Vanguard Long-Term Treasury ETF | | | 881,408 | | | | 1.9 | |
| | | | Total Exchange-Traded Funds (Cost $3,760,295) | | | 4,260,352 | | | | 9.4 | |
| MUTUAL FUNDS: 90.6% |
| | | | Affiliated Investment Companies: 90.6% |
| 132,722 | | | Voya High Yield Bond Fund - Class R6 | | | 909,148 | | | | 2.0 | |
| 365,847 | | | Voya Intermediate Bond Fund - Class R6 | | | 3,160,919 | | | | 7.0 | |
| 288,422 | | | Voya Large Cap Value Portfolio - Class R6 | | | 1,808,405 | | | | 4.0 | |
| 175,847 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,821,774 | | | | 4.0 | |
| 605,889 | | | Voya Multi-Manager International Equity Fund - Class I | | | 6,307,300 | | | | 14.0 | |
| 158,834 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,578,814 | | | | 3.5 | |
| 24,240 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 1,813,417 | | | | 4.0 | |
| 15,352 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 683,953 | | | | 1.5 | |
| 77,800 | | | Voya Small Company Fund - Class R6 | | | 1,154,554 | | | | 2.6 | |
| 617,888 | | | Voya U.S. Stock Index Portfolio - Class I | | | 12,660,520 | | | | 28.0 | |
| 143,200 | | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 1,341,780 | | | | 3.0 | |
| 62,085 | | | VY® Invesco Comstock Portfolio - Class I | | | 1,359,033 | | | | 3.0 | |
| 121,719 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 3,403,273 | | | | 7.5 | |
| 141,268 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,583,610 | | | | 3.5 | |
| Shares | | | | Value | | | Percentage
of Net
Assets |
| MUTUAL FUNDS: (continued) |
| | | Affiliated Investment Companies: (continued) |
| 13,203 | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 1,358,483 | | | | 3.0 | |
| | | | | | | | | | | |
| | | Total Mutual Funds (Cost $36,561,354) | | | 40,944,983 | | | | 90.6 | |
| | | | | | | | | | | |
| | | Total Long-Term Investments (Cost $40,321,649) | | | 45,205,335 | | | | 100.0 | |
| | | | | | | | | | | |
| | | Total Investments in Securities
(Cost $40,321,649) | | $ | 45,205,335 | | | | 100.0 | |
| | | Liabilities in Excess of Other Assets | | | (16,004) | | | | 0.0 | |
| | | Net Assets | | $ | 45,189,331 | | | | 100.0 | |
(1) Non-income producing security.
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2040 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 4,260,352 | | | $ | — | | | $ | — | | | $ | 4,260,352 | |
| Mutual Funds | | | 40,944,983 | | | | — | | | | — | | | | 40,944,983 | |
| Total Investments, at fair value | | $ | 45,205,335 | | | $ | — | | | $ | — | | | $ | 45,205,335 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning
Fair Value at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending
Fair
Value at 6/30/2024 | | | Investment
Income | | | Realized Gains/ (Losses) | | | Net
Capital
Gain Distributions | |
Voya High Yield Bond Fund - Class R6 | | $ | 791,812 | | | $ | 196,471 | | | $ | (70,088 | ) | | $ | (9,047 | ) | | $ | 909,148 | | | $ | 27,500 | | | $ | 2,449 | | | $ | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 2,720,608 | | | | 778,505 | | | | (296,454 | ) | | | (41,740 | ) | | | 3,160,919 | | | | 65,463 | | | | (2,253 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 1,704,722 | | | | 248,693 | | | | (237,623 | ) | | | 92,613 | | | | 1,808,405 | | | | — | | | | 46,630 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,991,981 | | | | 233,891 | | | | (477,372 | ) | | | 73,274 | | | | 1,821,774 | | | | — | | | | 28,389 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 2,734,608 | | | | 4,069,543 | | | | (584,229 | ) | | | 87,378 | | | | 6,307,300 | | | | — | | | | (7,788 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 3,158,683 | | | | 593,512 | | | | (3,584,042 | ) | | | (168,153 | ) | | | — | | | | — | | | | 371,139 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 982,535 | | | | 663,424 | | | | (116,479 | ) | | | 49,334 | | | | 1,578,814 | | | | — | | | | (17,050 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,635,675 | | | | 300,487 | | | | (280,277 | ) | | | 157,532 | | | | 1,813,417 | | | | 7,230 | | | | 116,007 | | | | 63,395 | |
| Voya Small Cap Growth Fund - Class R6 | | | 608,205 | | | | 86,198 | | | | (71,217 | ) | | | 60,767 | | | | 683,953 | | | | — | | | | 10,903 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 1,028,264 | | | | 230,781 | | | | (88,142 | ) | | | (16,349 | ) | | | 1,154,554 | | | | — | | | | 6,449 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 11,391,369 | | | | 1,937,778 | | | | (1,930,063 | ) | | | 1,261,436 | | | | 12,660,520 | | | | — | | | | 410,268 | | | | — | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | 1,141,846 | | | | 366,261 | | | | (157,081 | ) | | | (9,246 | ) | | | 1,341,780 | | | | — | | | | (16,059 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 1,203,814 | | | | 182,041 | | | | (129,226 | ) | | | 102,404 | | | | 1,359,033 | | | | — | | | | (3,706 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 2,971,624 | | | | 494,963 | | | | (345,294 | ) | | | 281,980 | | | | 3,403,273 | | | | — | | | | (73,279 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 982,137 | | | | 659,532 | | | | (155,392 | ) | | | 97,333 | | | | 1,583,610 | | | | — | | | | (24,897 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,321,726 | | | | 174,981 | | | | (303,074 | ) | | | 164,850 | | | | 1,358,483 | | | | — | | | | 81,067 | | | | — | |
| | | $ | 36,369,609 | | | $ | 11,217,061 | | | $ | (8,826,053 | ) | | $ | 2,184,366 | | | $ | 40,944,983 | | | $ | 100,193 | | | $ | 928,269 | | | $ | 63,395 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| PORTFOLIO OF INVESTMENTS | |
| Voya Solution 2040 Portfolio | |
| as of June 30, 2024 (Unaudited) (continued) | |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $44,316,572. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 4,903,519 | |
| Gross Unrealized Depreciation | | | (4,014,755 | ) |
| Net Unrealized Appreciation | | $ | 888,764 | |
See Accompanying Notes to Financial Statements
| Voya Solution 2045 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 9.4% |
| 709,830 | | | Vanguard FTSE Developed Markets ETF | | $ | 35,079,798 | | | | 7.5 | | |
| 158,641 | | | Vanguard Long-Term Treasury ETF | | | 9,150,413 | | | | 1.9 | | |
| | | | Total Exchange-Traded Funds
(Cost $38,408,637) | | | 44,230,211 | | | | 9.4 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 90.6% |
| | | | Affiliated Investment Companies: 90.6% | |
| 1,375,431 | | | Voya High Yield Bond Fund - Class R6 | | | 9,421,705 | | | | 2.0 | | |
| 1,624,155 | | | Voya Intermediate Bond Fund - Class R6 | | | 14,032,700 | | | | 3.0 | | |
| 2,988,926 | | | Voya Large Cap Value Portfolio - Class R6 | | | 18,740,568 | | | | 4.0 | | |
| 2,277,877 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 23,598,810 | | | | 5.1 | | |
| 7,170,888 | | | Voya Multi-Manager International Equity Fund - Class I | | | 74,648,945 | | | | 15.9 | | |
| 1,646,012 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 16,361,359 | | | | 3.5 | | |
| 251,200 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 18,792,274 | | | | 4.0 | | |
| 159,100 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 7,087,890 | | | | 1.5 | | |
| 806,253 | | | Voya Small Company Fund - Class R6 | | | 11,964,801 | | | | 2.6 | | |
| 7,317,895 | | | Voya U.S. Stock Index Portfolio - Class I | | | 149,943,674 | | | | 32.0 | | |
| 643,383 | | | VY® Invesco Comstock Portfolio - Class I | | | 14,083,647 | | | | 3.0 | | |
| 1,261,382 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 35,268,238 | | | | 7.5 | | |
| 1,463,979 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 16,411,210 | | | | 3.5 | | |
| | | | | | | | | | | | | |
| Shares | | | | | Value | | | Percentage
of Net Assets | |
| MUTUAL FUNDS: (continued) |
| | | | Affiliated Investment Companies: (continued) | |
| 136,825 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | $ | 14,077,932 | | | | 3.0 | | |
| | | Total Mutual Funds
(Cost $378,741,512) | | | 424,433,753 | | | | 90.6 | | |
| | | Total Long-Term Investments
(Cost $417,150,149) | | | 468,663,964 | | | | 100.0 | | |
| | | Total Investments in Securities
(Cost $417,150,149) | | $ | 468,663,964 | | | | 100.0 | | |
| | | Liabilities in Excess of Other Assets | | | (55,859) | | | | 0.0 | | |
| | | Net Assets | | $ | 468,608,105 | | | | 100.0 | | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2045 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 44,230,211 | | | $ | — | | | $ | — | | | $ | 44,230,211 | |
| Mutual Funds | | | 424,433,753 | | | | — | | | | — | | | | 424,433,753 | |
| Total Investments, at fair value | | $ | 468,663,964 | | | $ | — | | | $ | — | | | $ | 468,663,964 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya High Yield Bond Fund - Class R6 | | $ | 9,018,224 | | | $ | 1,157,139 | | | $ | (653,659 | ) | | $ | (99,999 | ) | | $ | 9,421,705 | | | $ | 304,507 | | | $ | 21,691 | | | $ | — | |
| Voya Intermediate Bond Fund - Class R6 | | | 13,088,001 | | | | 2,864,166 | | | | (1,713,924 | ) | | | (205,543 | ) | | | 14,032,700 | | | | 304,511 | | | | (25,549 | ) | | | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 19,427,051 | | | | 503,532 | | | | (6,047,242 | ) | | | 4,857,227 | | | | 18,740,568 | | | | — | | | | (3,270,382 | ) | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 27,317,180 | | | | 374,375 | | | | (8,106,348 | ) | | | 4,013,603 | | | | 23,598,810 | | | | — | | | | (2,592,238 | ) | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 40,332,405 | | | | 37,342,757 | | | | (6,137,240 | ) | | | 3,111,023 | | | | 74,648,945 | | | | — | | | | (1,764,555 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 40,610,833 | | | | 2,258,317 | | | | (43,838,284 | ) | | | 969,134 | | | | — | | | | — | | | | 1,553,785 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 11,206,010 | | | | 5,702,499 | | | | (1,112,979 | ) | | | 565,829 | | | | 16,361,359 | | | | — | | | | (175,883 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 17,424,702 | | | | 1,983,413 | | | | (2,478,622 | ) | | | 1,862,781 | | | | 18,792,274 | | | | 76,846 | | | | 1,057,996 | | | | 673,817 | |
| Voya Small Cap Growth Fund - Class R6 | | | 6,934,933 | | | | 110,075 | | | | (647,178 | ) | | | 690,060 | | | | 7,087,890 | | | | — | | | | 101,908 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 11,482,344 | | | | 1,447,410 | | | | (795,675 | ) | | | (169,278 | ) | | | 11,964,801 | | | | — | | | | 48,512 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 148,191,282 | | | | 5,968,614 | | | | (27,067,808 | ) | | | 22,851,586 | | | | 149,943,674 | | | | — | | | | (1,752,664 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 13,650,236 | | | | 384,256 | | | | (1,020,612 | ) | | | 1,069,767 | | | | 14,083,647 | | | | — | | | | 45,254 | | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 33,769,650 | | | | 1,727,405 | | | | (2,776,026 | ) | | | 2,547,209 | | | | 35,268,238 | | | | — | | | | (243,464 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 11,198,906 | | | | 5,674,930 | | | | (1,967,221 | ) | | | 1,504,595 | | | | 16,411,210 | | | | — | | | | (669,469 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 16,160,382 | | | | 229,213 | | | | (5,259,363 | ) | | | 2,947,700 | | | | 14,077,932 | | | | — | | | | (111,331 | ) | | | — | |
| | | $ | 419,812,139 | | | $ | 67,728,101 | | | $ | (109,622,181 | ) | | $ | 46,515,694 | | | $ | 424,433,753 | | | $ | 685,864 | | | $ | (7,776,389 | ) | | $ | 673,817 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution 2045 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $435,992,041. |
| Net unrealized appreciation consisted of: |
| Gross Unrealized Appreciation | | $ | 53,869,730 | |
| Gross Unrealized Depreciation | | | (21,197,807 | ) |
| Net Unrealized Appreciation | | $ | 32,671,923 | |
See Accompanying Notes to Financial Statements
| Voya Solution 2050 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets | |
| EXCHANGE-TRADED FUNDS: 9.4% |
| 62,025 | | | Vanguard FTSE Developed Markets ETF | | $ | 3,065,276 | | | | 7.5 | | |
| 13,862 | | | Vanguard Long-Term Treasury ETF | | | 799,560 | | | | 1.9 | | |
| | | | Total Exchange-Traded Funds
(Cost $3,440,633) | | | 3,864,836 | | | | 9.4 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 90.6% |
| | | | Affiliated Investment Companies: 90.6% |
| 95,111 | | | Voya Intermediate Bond Fund - Class R6 | | | 821,763 | | | | 2.0 | | |
| 261,892 | | | Voya Large Cap Value Portfolio - Class R6 | | | 1,642,064 | | | | 4.0 | | |
| 199,582 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 2,067,670 | | | | 5.0 | | |
| 629,042 | | | Voya Multi-Manager International Equity Fund - Class I | | | 6,548,324 | | | | 16.0 | | |
| 164,828 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,638,393 | | | | 4.0 | | |
| 22,009 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 1,646,524 | | | | 4.0 | | |
| 13,940 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 621,032 | | | | 1.5 | | |
| 70,642 | | | Voya Small Company Fund - Class R6 | | | 1,048,327 | | | | 2.6 | | |
| 681,260 | | | Voya U.S. Stock Index Portfolio - Class I | | | 13,959,021 | | | | 34.0 | | |
| 56,373 | | | VY® Invesco Comstock Portfolio - Class I | | | 1,234,010 | | | | 3.0 | | |
| 110,521 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 3,090,165 | | | | 7.5 | | |
| 146,598 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,643,366 | | | | 4.0 | | |
| 11,988 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,233,465 | | | | 3.0 | | |
| | | | Total Mutual Funds
(Cost $32,488,873) | | | 37,194,124 | | | | 90.6 | | |
| | | | Total Long-Term Investments
(Cost $35,929,506) | | | 41,058,960 | | | | 100.0 | | |
| | | | Total Investments in Securities
(Cost $35,929,506) | | $ | 41,058,960 | | | | 100.0 | | |
| | | | Liabilities in Excess of Other Assets | | | (18,887) | | | | 0.0 | | |
| | | | Net Assets | | $ | 41,040,073 | | | | 100.0 | | |
| | | | | | | | | | | | | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2050 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 3,864,836 | | | $ | — | | | $ | — | | | $ | 3,864,836 | |
| Mutual Funds | | | 37,194,124 | | | | — | | | | — | | | | 37,194,124 | |
| Total Investments, at fair value | | $ | 41,058,960 | | | $ | — | | | $ | — | | | $ | 41,058,960 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 1,078,254 | | | $ | 259,490 | | | $ | (497,233 | ) | | $ | (18,748 | ) | | $ | 821,763 | | | $ | 20,047 | | | $ | 479 | | | $ | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 1,536,029 | | | | 206,836 | | | | (191,747 | ) | | | 90,946 | | | | 1,642,064 | | | | — | | | | 38,547 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 2,138,871 | | | | 234,624 | | | | (434,726 | ) | | | 128,901 | | | | 2,067,670 | | | | — | | | | (5,010 | ) | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 3,200,654 | | | | 3,617,999 | | | | (422,539 | ) | | | 152,210 | | | | 6,548,324 | | | | — | | | | (41,761 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 3,068,935 | | | | 454,652 | | | | (3,345,387 | ) | | | (178,200 | ) | | | — | | | | — | | | | 378,400 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,064,048 | | | | 629,404 | | | | (113,141 | ) | | | 58,082 | | | | 1,638,393 | | | | — | | | | (18,797 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,381,550 | | | | 321,179 | | | | (209,755 | ) | | | 153,550 | | | | 1,646,524 | | | | 6,566 | | | | 88,233 | | | | 57,570 | |
| Voya Small Cap Growth Fund - Class R6 | | | 548,318 | | | | 68,857 | | | | (53,968 | ) | | | 57,825 | | | | 621,032 | | | | — | | | | 8,359 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 927,156 | | | | 201,592 | | | | (67,093 | ) | | | (13,328 | ) | | | 1,048,327 | | | | — | | | | 4,816 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 12,970,721 | | | | 1,779,718 | | | | (2,206,571 | ) | | | 1,415,153 | | | | 13,959,021 | | | | — | | | | 475,291 | | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 1,084,119 | | | | 153,509 | | | | (96,625 | ) | | | 93,007 | | | | 1,234,010 | | | | — | | | | (1,197 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 1,784,914 | | | | 1,309,666 | | | | (202,514 | ) | | | 198,099 | | | | 3,090,165 | | | | — | | | | (34,401 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,064,112 | | | | 626,776 | | | | (164,826 | ) | | | 117,304 | | | | 1,643,366 | | | | — | | | | (35,669 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,281,911 | | | | 145,333 | | | | (330,397 | ) | | | 136,618 | | | | 1,233,465 | | | | — | | | | 97,514 | | | | — | |
| | | $ | 33,129,592 | | | $ | 10,009,635 | | | $ | (8,336,522 | ) | | $ | 2,391,419 | | | $ | 37,194,124 | | | $ | 26,613 | | | $ | 954,804 | | | $ | 57,570 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution 2050 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $39,322,713. |
| Net unrealized appreciation consisted of: |
| Gross Unrealized Appreciation | | $ | 1,736,247 | |
| Gross Unrealized Depreciation | | | — | |
| Net Unrealized Appreciation | | $ | 1,736,247 | |
See Accompanying Notes to Financial Statements
| Voya Solution 2055 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 9.4% | | | |
| 266,248 | | | Vanguard FTSE Developed Markets ETF | | $ | 13,157,976 | | | 7.5 | |
| 59,504 | | | Vanguard Long-Term Treasury ETF | | | 3,432,191 | | | 1.9 | |
| | | | | | | | | | | |
| | | | Total Exchange-Traded Funds | | | | | | | |
| | | | (Cost $14,491,540) | | | 16,590,167 | | | 9.4 | |
| | | | | | | | | | | |
| MUTUAL FUNDS: 90.6% | | | |
| | | | Affiliated Investment Companies: 90.6% |
| 202,622 | | | Voya Intermediate Bond Fund - Class R6 | | | 1,750,658 | | | 1.0 | |
| 1,120,412 | | | Voya Large Cap Value Portfolio - Class R6 | | | 7,024,985 | | | 4.0 | |
| 853,864 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 8,846,031 | | | 5.1 | |
| 2,687,161 | | | Voya Multi-Manager International Equity Fund - Class I | | | 27,973,343 | | | 15.9 | |
| 705,157 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 7,009,262 | | | 4.0 | |
| 94,161 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 7,044,210 | | | 4.0 | |
| 59,639 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 2,656,932 | | | 1.5 | |
| 302,233 | | | Voya Small Company Fund - Class R6 | | | 4,485,131 | | | 2.6 | |
| 3,000,271 | | | Voya U.S. Stock Index Portfolio - Class I | | | 61,475,552 | | | 35.0 | |
| 241,174 | | | VY® Invesco Comstock Portfolio - Class I | | | 5,279,301 | | | 3.0 | |
| 472,831 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 13,220,357 | | | 7.5 | |
| 627,175 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 7,030,629 | | | 4.0 | |
| 51,288 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 5,277,036 | | | 3.0 | |
| | | | | | | | | | | |
| | | | Total Mutual Funds | | | | | | | |
| | | | (Cost $139,030,413) | | | 159,073,427 | | | 90.6 | |
| | | | | | | | | | | |
| | | | Total Long-Term | | | | | | | |
| | | | Investments | | | | | | | |
| | | | (Cost $153,521,953) | | | 175,663,594 | | | 100.0 | |
| | | | | | | | | | | |
| | | | Total Investments in | | | | | | | |
| | | | Securities | | | | | | | |
| | | | (Cost $153,521,953) | | $ | 175,663,594 | | | 100.0 | |
| | | | Liabilities in Excess of Other Assets | | | (13,629) | | | 0.0 | |
| | | | Net Assets | | $ | 175,649,965 | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2055 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | | Signifiicant Other
Observable
Inputs
(Level 2) | | | Signifiicant
Unobservable
Inputs
(Level 3) | | | Fair Value
at
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 16,590,167 | | | $ | — | | | $ | — | | | $ | 16,590,167 | |
| Mutual Funds | | | 159,073,427 | | | | — | | | | — | | | | 159,073,427 | |
| Total Investments, at fair value | | $ | 175,663,594 | | | $ | — | | | $ | — | | | $ | 175,663,594 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 3,114,800 | | | $ | 571,635 | | | $ | (1,880,063 | ) | | $ | (55,714 | ) | | $ | 1,750,658 | | | $ | 49,661 | | | $ | (1,886 | ) | | $ | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 6,951,529 | | | | 333,035 | | | | (1,131,990 | ) | | | 872,411 | | | | 7,024,985 | | | | — | | | | (287,314 | ) | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 11,429,183 | | | | 327,909 | | | | (4,241,811 | ) | | | 1,330,750 | | | | 8,846,031 | | | | — | | | | (775,471 | ) | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 14,485,231 | | | | 14,206,005 | | | | (1,578,511 | ) | | | 860,618 | | | | 27,973,343 | | | | — | | | | (359,150 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 14,453,795 | | | | 1,117,162 | | | | (15,103,605 | ) | | | (467,352 | ) | | | — | | | | — | | | | 1,408,908 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 4,811,481 | | | | 2,316,947 | | | | (346,964 | ) | | | 227,798 | | | | 7,009,262 | | | | — | | | | (46,509 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 6,227,492 | | | | 874,237 | | | | (789,883 | ) | | | 732,364 | | | | 7,044,210 | | | | 28,724 | | | | 350,318 | | | | 251,866 | |
| Voya Small Cap Growth Fund - Class R6 | | | 2,480,855 | | | | 94,246 | | | | (181,605 | ) | | | 263,436 | | | | 2,656,932 | | | | — | | | | 31,651 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 4,165,590 | | | | 580,967 | | | | (205,234 | ) | | | (56,192 | ) | | | 4,485,131 | | | | — | | | | 13,585 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 58,670,860 | | | | 2,960,531 | | | | (8,919,644 | ) | | | 8,763,805 | | | | 61,475,552 | | | | — | | | | (172,797 | ) | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 4,900,836 | | | | 256,687 | | | | (275,269 | ) | | | 397,047 | | | | 5,279,301 | | | | — | | | | 15,136 | | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 8,068,046 | | | | 4,991,861 | | | | (663,021 | ) | | | 823,471 | | | | 13,220,357 | | | | — | | | | (96,149 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 4,782,021 | | | | 2,335,918 | | | | (686,488 | ) | | | 599,178 | | | | 7,030,629 | | | | — | | | | (226,500 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 5,772,868 | | | | 190,024 | | | | (1,612,346 | ) | | | 926,490 | | | | 5,277,036 | | | | — | | | | 124,378 | | | | — | |
| | | $ | 150,314,587 | | | $ | 31,157,164 | | | $ | (37,616,434 | ) | | $ | 15,218,110 | | | $ | 159,073,427 | | | $ | 78,385 | | | $ | (21,800 | ) | | $ | 251,866 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution 2055 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $163,690,249. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 22,171,235 | |
| Gross Unrealized Depreciation | | | (10,197,890 | ) |
| Net Unrealized Appreciation | | $ | 11,973,345 | |
See Accompanying Notes to Financial Statements
| Voya Solution 2060 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 9.5% | | | |
| 49,069 | | | Vanguard FTSE Developed Markets ETF | | $ | 2,424,990 | | | 7.5 | |
| 10,966 | | | Vanguard Long-Term Treasury ETF | | | 632,519 | | | 2.0 | |
| | | | | | | | | | | |
| | | | Total Exchange-Traded Funds | | | | | | | |
| | | | (Cost $2,786,566) | | | 3,057,509 | | | 9.5 | |
| | | | | | | | | | | |
| MUTUAL FUNDS: 90.6% | | | |
| | | | Affiliated Investment Companies: 90.6% |
| 37,027 | | | Voya Intermediate Bond Fund - Class R6 | | | 319,912 | | | 1.0 | |
| 205,924 | | | Voya Large Cap Value Portfolio - Class R6 | | | 1,291,144 | | | 4.0 | |
| 156,937 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,625,863 | | | 5.1 | |
| 493,174 | | | Voya Multi-Manager International Equity Fund - Class I | | | 5,133,938 | | | 15.9 | |
| 129,602 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 1,288,241 | | | 4.0 | |
| 17,306 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 1,294,671 | | | 4.0 | |
| 10,962 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 488,335 | | | 1.5 | |
| 55,552 | | | Voya Small Company Fund - Class R6 | | | 824,388 | | | 2.6 | |
| 551,425 | | | Voya U.S. Stock Index Portfolio - Class I | | | 11,298,698 | | | 35.0 | |
| 44,326 | | | VY® Invesco Comstock Portfolio - Class I | | | 970,305 | | | 3.0 | |
| 86,904 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 2,429,824 | | | 7.5 | |
| 115,270 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 1,292,172 | | | 4.0 | |
| 9,426 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 969,874 | | | 3.0 | |
| | | | | | | | | | | |
| | | | Total Mutual Funds | | | | | | | |
| | | | (Cost $25,476,243) | | | 29,227,365 | | | 90.6 | |
| | | | | | | | | | | |
| | | | Total Long-Term | | | | | | | |
| | | | Investments | | | | | | | |
| | | | (Cost $28,262,809) | | | 32,284,874 | | | 100.1 | |
| | | | | | | | | | | |
| | | | Total Investments in | | | | | | | |
| | | | Securities | | | | | | | |
| | | | (Cost $28,262,809) | | $ | 32,284,874 | | | 100.1 | |
| | | | Liabilities in Excess of Other Assets | | | (38,073) | | | (0.1) | |
| | | | Net Assets | | $ | 32,246,801 | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2060 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | | Signifiicant Other
Observable
Inputs
(Level 2) | | | Signifiicant
Unobservable
Inputs
(Level 3) | | | Fair Value
at
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 3,057,509 | | | $ | — | | | $ | — | | | $ | 3,057,509 | |
| Mutual Funds | | | 29,227,365 | | | | — | | | | — | | | | 29,227,365 | |
| Total Investments, at fair value | | $ | 32,284,874 | | | $ | — | | | $ | — | | | $ | 32,284,874 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | | $ | 279,470 | | | $ | 110,723 | | | $ | (65,201 | ) | | $ | (5,080 | ) | | $ | 319,912 | | | $ | 7,025 | | | $ | 528 | | | $ | — | |
| Voya Large Cap Value Portfolio - Class R6 | | | 1,219,187 | | | | 171,999 | | | | (169,606 | ) | | | 69,564 | | | | 1,291,144 | | | | — | | | | 23,675 | | | | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 1,980,664 | | | | 195,426 | | | | (671,139 | ) | | | 120,912 | | | | 1,625,863 | | | | — | | | | (20,372 | ) | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 2,550,751 | | | | 2,871,440 | | | | (406,265 | ) | | | 118,012 | | | | 5,133,938 | | | | — | | | | (31,023 | ) | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 2,588,176 | | | | 384,938 | | | | (2,819,487 | ) | | | (153,627 | ) | | | — | | | | — | | | | 320,590 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 844,474 | | | | 498,051 | | | | (102,574 | ) | | | 48,290 | | | | 1,288,241 | | | | — | | | | (17,616 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 1,097,951 | | | | 254,148 | | | | (174,669 | ) | | | 117,241 | | | | 1,294,671 | | | | 5,210 | | | | 73,155 | | | | 45,683 | |
| Voya Small Cap Growth Fund - Class R6 | | | 434,982 | | | | 54,510 | | | | (45,926 | ) | | | 44,769 | | | | 488,335 | | | | — | | | | 7,136 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 735,400 | | | | 160,681 | | | | (60,432 | ) | | | (11,261 | ) | | | 824,388 | | | | — | | | | 4,352 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 9,870,781 | | | | 1,803,326 | | | | (1,570,596 | ) | | | 1,195,187 | | | | 11,298,698 | | | | — | | | | 288,929 | | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 860,190 | | | | 121,979 | | | | (86,432 | ) | | | 74,568 | | | | 970,305 | | | | — | | | | (2,195 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 2,141,901 | | | | 366,408 | | | | (279,326 | ) | | | 200,841 | | | | 2,429,824 | | | | — | | | | (49,848 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 844,805 | | | | 495,853 | | | | (141,287 | ) | | | 92,801 | | | | 1,292,172 | | | | — | | | | (29,235 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 1,018,388 | | | | 113,700 | | | | (268,736 | ) | | | 106,522 | | | | 969,874 | | | | — | | | | 77,798 | | | | — | |
| | | $ | 26,467,120 | | | $ | 7,603,182 | | | $ | (6,861,676 | ) | | $ | 2,018,739 | | | $ | 29,227,365 | | | $ | 12,235 | | | $ | 645,874 | | | $ | 45,683 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution 2060 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $31,183,054. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 4,029,917 | |
| Gross Unrealized Depreciation | | | (2,928,097 | ) |
| Net Unrealized Appreciation | | $ | 1,101,820 | |
See Accompanying Notes to Financial Statements
| Voya Solution 2065 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 9.9% | | | |
| 29,864 | | | Vanguard FTSE Developed Markets ETF | | $ | 1,475,879 | | | 8.0 | |
| 6,257 | | | Vanguard Long-Term Treasury ETF | | | 360,904 | | | 1.9 | |
| | | | | | | | | | | |
| | | | Total Exchange-Traded Funds | | | | | | | |
| | | | (Cost $1,689,692) | | | 1,836,783 | | | 9.9 | |
| | | | | | | | | | | |
| MUTUAL FUNDS: 90.2% | | | |
| | | | Affiliated Investment Companies: 90.2% |
| 118,408 | | | Voya Large Cap Value Portfolio - Class R6 | | | 742,420 | | | 4.0 | |
| 90,235 | | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 934,829 | | | 5.0 | |
| 293,479 | | | Voya Multi-Manager International Equity Fund - Class I | | | 3,055,117 | | | 16.5 | |
| 74,523 | | | Voya Multi-Manager Mid Cap Value Fund - Class I | | | 740,759 | | | 4.0 | |
| 9,951 | | | Voya Russell™ Large Cap Growth Index - Class I | | | 744,427 | | | 4.0 | |
| 6,303 (1) | | | Voya Small Cap Growth Fund - Class R6 | | | 280,780 | | | 1.5 | |
| 31,938 | | | Voya Small Company Fund - Class R6 | | | 473,956 | | | 2.6 | |
| 317,073 | | | Voya U.S. Stock Index Portfolio - Class I | | | 6,496,825 | | | 35.0 | |
| 25,488 | | | VY® Invesco Comstock Portfolio - Class I | | | 557,925 | | | 3.0 | |
| 50,025 | | | VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 1,398,688 | | | 7.6 | |
| 66,280 | | | VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 743,002 | | | 4.0 | |
| 5,420 | | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 557,675 | | | 3.0 | |
| | | | | | | | | | | |
| | | | Total Mutual Funds | | | | | | | |
| | | | (Cost $14,785,268) | | | 16,726,403 | | | 90.2 | |
| | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | |
| | | | (Cost $16,474,960) | | | 18,563,186 | | | 100.1 | |
| | | | | | | | | | | |
| | | | Total Investments in | | | | | | | |
| | | | Securities | | | | | | | |
| | | | (Cost $16,474,960) | | $ | 18,563,186 | | | 100.1 | |
| | | | Liabilities in Excess | | | | | | | |
| | | | of Other Assets | | | (21,603) | | | (0.1) | |
| | | | Net Assets | | $ | 18,541,583 | | | 100.0 | |
| (1) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Solution 2065 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 30, 2024 in valuing the assets and liabilities:
| | | Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | | Signifiicant Other
Observable
Inputs
(Level 2) | | | Signifiicant
Unobservable
Inputs
(Level 3) | | | Fair Value
at
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 1,836,783 | | | $ | — | | | $ | — | | | $ | 1,836,783 | |
| Mutual Funds | | | 16,726,403 | | | | — | | | | — | | | | 16,726,403 | |
| Total Investments, at fair value | | $ | 18,563,186 | | | $ | — | | | $ | — | | | $ | 18,563,186 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Large Cap Value Portfolio - Class R6 | | $ | 601,288 | | | $ | 158,833 | | | $ | (74,937 | ) | | $ | 57,236 | | | $ | 742,420 | | | $ | — | | | $ | (3,205 | ) | | $ | — | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 835,890 | | | | 242,666 | | | | (193,206 | ) | | | 49,479 | | | | 934,829 | | | | — | | | | 13,193 | | | | — | |
| Voya Multi-Manager International Equity Fund - Class I | | | 1,302,224 | | | | 1,941,824 | | | | (221,589 | ) | | | 32,658 | | | | 3,055,117 | | | | — | | | | 11,283 | | | | — | |
| Voya Multi-Manager International Factors Fund - Class I | | | 1,216,747 | | | | 299,610 | | | | (1,446,223 | ) | | | (70,134 | ) | | | — | | | | — | | | | 156,462 | | | | — | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 417,444 | | | | 329,972 | | | | (26,786 | ) | | | 20,129 | | | | 740,759 | | | | — | | | | (4,380 | ) | | | — | |
| Voya Russell™ Large Cap Growth Index - Class I | | | 540,225 | | | | 205,530 | | | | (72,428 | ) | | | 71,100 | | | | 744,427 | | | | 2,883 | | | | 32,354 | | | | 25,279 | |
| Voya Small Cap Growth Fund - Class R6 | | | 214,555 | | | | 55,256 | | | | (14,785 | ) | | | 25,754 | | | | 280,780 | | | | — | | | | 2,603 | | | | — | |
| Voya Small Company Fund - Class R6 | | | 362,157 | | | | 131,694 | | | | (15,892 | ) | | | (4,003 | ) | | | 473,956 | | | | — | | | | 1,237 | | | | — | |
| Voya U.S. Stock Index Portfolio - Class I | | | 5,009,395 | | | | 1,514,564 | | | | (755,104 | ) | | | 727,970 | | | | 6,496,825 | | | | — | | | | 77,717 | | | | — | |
| VY® Invesco Comstock Portfolio - Class I | | | 423,518 | | | | 118,312 | | | | (22,923 | ) | | | 39,018 | | | | 557,925 | | | | — | | | | (473 | ) | | | — | |
| VY® T. Rowe Price Capital Appreciation Portfolio - Class R6 | | | 1,047,041 | | | | 356,042 | | | | (101,400 | ) | | | 97,005 | | | | 1,398,688 | | | | — | | | | (13,719 | ) | | | — | |
| VY® T. Rowe Price Diversified Mid Cap Growth Portfolio - Class R6 | | | 418,056 | | | | 327,671 | | | | (46,636 | ) | | | 43,911 | | | | 743,002 | | | | — | | | | (9,995 | ) | | | — | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 500,841 | | | | 114,666 | | | | (114,909 | ) | | | 57,077 | | | | 557,675 | | | | — | | | | 42,660 | | | | — | |
| | | $ | 12,889,381 | | | $ | 5,796,640 | | | $ | (3,106,818 | ) | | $ | 1,147,200 | | | $ | 16,726,403 | | | $ | 2,883 | | | $ | 305,737 | | | $ | 25,279 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
See Accompanying Notes to Financial Statements
| Voya Solution 2065 Portfolio | PORTFOLIO OF INVESTMENTS |
| as of June 30, 2024 (Unaudited) (continued) |
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $17,437,972. | | | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 2,115,530 | |
| Gross Unrealized Depreciation | | | (990,316 | ) |
| Net Unrealized Appreciation | | $ | 1,125,214 | |
See Accompanying Notes to Financial Statements
| Investment Adviser | Custodian |
| Voya Investments, LLC | The Bank of New York Mellon |
| 7337 East Doubletree Ranch Road, Suite 100 | 225 Liberty Street |
| Scottsdale, Arizona 85258 | New York, New York 10286 |
| | |
| Distributor | Legal Counsel |
| Voya Investments Distributor, LLC | Ropes & Gray LLP |
| 7337 East Doubletree Ranch Road, Suite 100 | Prudential Tower |
| Scottsdale, Arizona 85258 | 800 Boylston Street |
| Boston, Massachusetts 02199 |
| | |
| Transfer Agent | |
| BNY Mellon Investment Servicing (U.S.) Inc. | |
| 301 Bellevue Parkway | |
| Wilmington, Delaware 19809 | |
Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract or variable life insurance policy and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract or variable life insurance policy and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.
VPSAR-VSOL (0624)
Semi-Annual Financial Statements and Other Information
June 30, 2024
Classes ADV, I, S, S2 and Z
Voya Partners, Inc.
| ■ | Voya Index Solution Income Portfolio | ■ | Voya Index Solution 2045 Portfolio |
| ■ | Voya Index Solution 2025 Portfolio | ■ | Voya Index Solution 2050 Portfolio |
| ■ | Voya Index Solution 2030 Portfolio | ■ | Voya Index Solution 2055 Portfolio |
| ■ | Voya Index Solution 2035 Portfolio | ■ | Voya Index Solution 2060 Portfolio |
| ■ | Voya Index Solution 2040 Portfolio | ■ | Voya Index Solution 2065 Portfolio |
This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully.
|  | E-Delivery Sign-up – details inside |
| INVESTMENT MANAGEMENT | |
voyainvestments.com |  |
TABLE OF CONTENTS
Go Paperless with E-Delivery! Sign up now for on-line prospectuses, tailored shareholder reports, and proxy statements. Just go to individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll. You will be notified by e-mail when these communications become available on the internet. |
|---|
PROXY VOTING INFORMATION
A description of the policies and procedures that the Portfolios use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Portfolios’ website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Portfolios voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Portfolios’ website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Portfolios’ Forms NPORT-P are available on the SEC’s website at www.sec.gov. Each Portfolio’s complete schedule of portfolio holdings is available at: https://individuals.voya.com/product/mutual-fund/ prospectuses-reports and without charge upon request from the Portfolio by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Index
Solution Income
Portfolio | | Voya Index
Solution 2025
Portfolio | | Voya Index
Solution 2030
Portfolio | | Voya Index
Solution 2035
Portfolio |
| ASSETS: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 514,727,701 | | | $ | 893,097,231 | | | $ | 860,503,758 | | | $ | 1,511,759,757 | |
| Investments in unaffiliated underlying funds at fair value** | | | 124,445,407 | | | | 151,574,725 | | | | 83,590,246 | | | | 61,236,591 | |
| Short-term investments at fair value† | | | 1,456,756 | | | | – | | | | – | | | | – | |
| Cash | | | – | | | | 2,515,845 | | | | 3,262,021 | | | | 3,669,689 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds sold | | | – | | | | – | | | | – | | | | 277,714 | |
| Fund shares sold | | | 394,743 | | | | 455,501 | | | | 662,568 | | | | 875,784 | |
| Interest | | | – | | | | 53 | | | | 4,001 | | | | 4,530 | |
| Prepaid expenses | | | 2,958 | | | | 4,539 | | | | 3,568 | | | | 5,700 | |
| Reimbursement due from Investment Adviser | | | 135,813 | | | | 212,761 | | | | 195,010 | | | | 313,231 | |
| Other assets | | | 24,719 | | | | 30,035 | | | | 12,853 | | | | 29,076 | |
| Total assets | | | 641,188,097 | | | | 1,047,890,690 | | | | 948,234,025 | | | | 1,578,172,072 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | 275,198 | | | | 423,805 | | | | 573,936 | | | | – | |
| Payable for fund shares redeemed | | | 115,461 | | | | 27,472 | | | | 88,620 | | | | 1,153,141 | |
| Payable for investment management fees | | | 135,441 | | | | 206,626 | | | | 173,347 | | | | 272,933 | |
| Payable for distribution and shareholder service fees | | | 48,728 | | | | 78,276 | | | | 26,444 | | | | 88,967 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 24,719 | | | | 30,035 | | | | 12,853 | | | | 29,076 | |
| Payable for directors fees | | | 2,600 | | | | 3,500 | | | | 2,800 | | | | 4,070 | |
| Other accrued expenses and liabilities | | | 66,407 | | | | 82,976 | | | | 61,284 | | | | 113,178 | |
| Total liabilities | | | 668,554 | | | | 852,690 | | | | 939,284 | | | | 1,661,365 | |
| NET ASSETS | | $ | 640,519,543 | | | $ | 1,047,038,000 | | | $ | 947,294,741 | | | $ | 1,576,510,707 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 661,309,502 | | | $ | 1,000,298,154 | | | $ | 885,818,483 | | | $ | 1,440,388,012 | |
| Total distributable earnings (loss) | | | (20,789,959 | ) | | | 46,739,846 | | | | 61,476,258 | | | | 136,122,695 | |
| NET ASSETS | | $ | 640,519,543 | | | $ | 1,047,038,000 | | | $ | 947,294,741 | | | $ | 1,576,510,707 | |
| | | | | | | | | | | | | | | | | |
| * Cost of investments in affiliated underlying funds | | $ | 484,485,513 | | | $ | 808,683,741 | | | $ | 762,277,875 | | | $ | 1,309,789,520 | |
| ** Cost of investments in unaffiliated underlying funds | | $ | 126,399,129 | | | $ | 151,287,350 | | | $ | 82,921,439 | | | $ | 59,493,802 | |
| † Cost of short-term investments | | $ | 1,456,756 | | | $ | — | | | $ | — | | | $ | — | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Index
Solution Income
Portfolio | | Voya Index
Solution 2025
Portfolio | | Voya Index
Solution 2030
Portfolio | | Voya Index
Solution 2035
Portfolio |
| Class ADV | | | | | | | | | | | | | | | | |
| Net assets | | $ | 58,890,666 | | | $ | 114,948,989 | | | $ | 38,811,668 | | | $ | 125,880,653 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 6,146,746 | | | | 10,934,745 | | | | 2,506,104 | | | | 11,066,629 | |
| Net asset value and redemption price per share | | $ | 9.58 | | | $ | 10.51 | | | $ | 15.49 | | | $ | 11.37 | |
| | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 11,592,128 | | | $ | 42,885,846 | | | $ | 13,199,654 | | | $ | 62,655,868 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,170,478 | | | | 3,947,030 | | | | 816,725 | | | | 5,298,110 | |
| Net asset value and redemption price per share | | $ | 9.90 | | | $ | 10.87 | | | $ | 16.16 | | | $ | 11.83 | |
| | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 85,452,882 | | | $ | 86,650,901 | | | $ | 14,706,611 | | | $ | 92,023,091 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 8,737,118 | | | | 8,093,307 | | | | 919,559 | | | | 7,921,116 | |
| Net asset value and redemption price per share | | $ | 9.78 | | | $ | 10.71 | | | $ | 15.99 | | | $ | 11.62 | |
| | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 20,293,577 | | | $ | 38,360,490 | | | $ | 22,650,142 | | | $ | 53,880,156 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 2,141,993 | | | | 3,682,800 | | | | 1,452,649 | | | | 4,763,908 | |
| Net asset value and redemption price per share | | $ | 9.47 | | | $ | 10.42 | | | $ | 15.59 | | | $ | 11.31 | |
| | | | | | | | | | | | | | | | | |
| Class Z | | | | | | | | | | | | | | | | |
| Net assets | | $ | 464,290,290 | | | $ | 764,191,774 | | | $ | 857,926,666 | | | $ | 1,242,070,939 | |
| Shares authorized | | | 300,000,000 | | | | 300,000,000 | | | | 100,000,000 | | | | 300,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 46,065,267 | | | | 69,035,520 | | | | 52,167,444 | | | | 102,825,914 | |
| Net asset value and redemption price per share | | $ | 10.08 | | | $ | 11.07 | | | $ | 16.45 | | | $ | 12.08 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Index
Solution 2040
Portfolio | | Voya Index
Solution 2045
Portfolio | | Voya Index
Solution 2050
Portfolio | | Voya Index
Solution 2055
Portfolio |
| ASSETS: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 946,218,749 | | | $ | 1,237,804,836 | | | $ | 809,638,190 | | | $ | 830,067,797 | |
| Investments in unaffiliated underlying funds at fair value** | | | 37,578,711 | | | | 48,893,544 | | | | 15,335,497 | | | | 15,673,560 | |
| Cash | | | 2,849,947 | | | | 2,719,571 | | | | 1,287,893 | | | | 1,180,227 | |
| Receivables: | | | | | | | | | | | | | | | | |
| Investments in affiliated underlying funds sold | | | – | | | | 1,754,050 | | | | 921,551 | | | | 1,396,863 | |
| Fund shares sold | | | 314,092 | | | | 189,839 | | | | 196,201 | | | | 309,136 | |
| Interest | | | 4,314 | | | | 4,219 | | | | 1,978 | | | | 1,843 | |
| Prepaid expenses | | | 3,384 | | | | 4,434 | | | | 2,653 | | | | 2,714 | |
| Reimbursement due from Investment Adviser | | | 197,812 | | | | 257,379 | | | | 149,187 | | | | 152,703 | |
| Other assets | | | 10,184 | | | | 20,244 | | | | 7,213 | | | | 8,986 | |
| Total assets | | | 987,177,193 | | | | 1,291,648,116 | | | | 827,540,363 | | | | 848,793,829 | |
| | | | | | | | | | | | | | | | | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for investments in affiliated underlying funds purchased | | | 222,112 | | | | – | | | | – | | | | – | |
| Payable for fund shares redeemed | | | 91,836 | | | | 1,943,814 | | | | 1,117,722 | | | | 1,705,976 | |
| Payable for investment management fees | | | 170,623 | | | | 222,304 | | | | 139,444 | | | | 142,980 | |
| Payable for distribution and shareholder service fees | | | 17,844 | | | | 72,137 | | | | 14,006 | | | | 42,324 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 10,184 | | | | 20,244 | | | | 7,213 | | | | 8,986 | |
| Payable for directors fees | | | 2,700 | | | | 3,200 | | | | 2,020 | | | | 2,100 | |
| Other accrued expenses and liabilities | | | 61,054 | | | | 98,582 | | | | 34,211 | | | | 64,636 | |
| Total liabilities | | | 576,353 | | | | 2,360,281 | | | | 1,314,616 | | | | 1,967,002 | |
| NET ASSETS | | $ | 986,600,840 | | | $ | 1,289,287,835 | | | $ | 826,225,747 | | | $ | 846,826,827 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | | | | | | | | | |
| Paid-in capital | | $ | 878,823,785 | | | $ | 1,128,368,447 | | | $ | 718,990,006 | | | $ | 734,077,336 | |
| Total distributable earnings | | | 107,777,055 | | | | 160,919,388 | | | | 107,235,741 | | | | 112,749,491 | |
| NET ASSETS | | $ | 986,600,840 | | | $ | 1,289,287,835 | | | $ | 826,225,747 | | | $ | 846,826,827 | |
| | | | | | | | | | | | | | | | | |
| * Cost of investments in affiliated underlying funds | | $ | 800,896,669 | | | $ | 1,028,659,116 | | | $ | 672,428,935 | | | $ | 687,439,613 | |
| ** Cost of investments in unaffiliated underlying funds | | $ | 36,551,787 | | | $ | 47,284,952 | | | $ | 14,968,774 | | | $ | 15,292,626 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Index
Solution 2040
Portfolio | | Voya Index
Solution 2045
Portfolio | | Voya Index
Solution 2050
Portfolio | | Voya Index
Solution 2055
Portfolio |
| Class ADV | | | | | | | | | | | | | | | | |
| Net assets | | $ | 30,242,752 | | | $ | 107,993,894 | | | $ | 23,299,704 | | | $ | 55,848,217 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,726,108 | | | | 8,719,733 | | | | 1,256,902 | | | | 3,284,608 | |
| Net asset value and redemption price per share | | $ | 17.52 | | | $ | 12.39 | | | $ | 18.54 | | | $ | 17.00 | |
| | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | |
| Net assets | | $ | 14,999,837 | | | $ | 55,986,502 | | | $ | 21,368,483 | | | $ | 54,787,454 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 821,331 | | | | 4,298,325 | | | | 1,112,839 | | | | 3,105,270 | |
| Net asset value and redemption price per share | | $ | 18.26 | | | $ | 13.03 | | | $ | 19.20 | | | $ | 17.64 | |
| | | | | | | | | | | | | | | | | |
| Class S | | | | | | | | | | | | | | | | |
| Net assets | | $ | 15,494,520 | | | $ | 65,536,312 | | | $ | 12,702,732 | | | $ | 41,850,946 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 851,870 | | | | 5,145,125 | | | | 664,584 | | | | 2,414,082 | |
| Net asset value and redemption price per share | | $ | 18.19 | | | $ | 12.74 | | | $ | 19.11 | | | $ | 17.34 | |
| | | | | | | | | | | | | | | | | |
| Class S2 | | | | | | | | | | | | | | | | |
| Net assets | | $ | 6,392,915 | | | $ | 43,648,898 | | | $ | 5,933,299 | | | $ | 33,054,005 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 359,989 | | | | 3,533,861 | | | | 317,974 | | | | 1,939,837 | |
| Net asset value and redemption price per share | | $ | 17.76 | | | $ | 12.35 | | | $ | 18.66 | | | $ | 17.04 | |
| | | | | | | | | | | | | | | | | |
| Class Z | | | | | | | | | | | | | | | | |
| Net assets | | $ | 919,470,816 | | | $ | 1,016,122,229 | | | $ | 762,921,529 | | | $ | 661,286,205 | |
| Shares authorized | | | 100,000,000 | | | | 300,000,000 | | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 49,465,558 | | | | 76,411,925 | | | | 39,088,980 | | | | 36,743,247 | |
| Net asset value and redemption price per share | | $ | 18.59 | | | $ | 13.30 | | | $ | 19.52 | | | $ | 18.00 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited)
| | | Voya Index
Solution 2060
Portfolio | | Voya Index
Solution 2065
Portfolio |
| ASSETS: | | | | | | | | |
| Investments in affiliated underlying funds at fair value* | | $ | 495,745,491 | | | $ | 118,414,890 | |
| Investments in unaffiliated underlying funds at fair value** | | | 9,162,583 | | | | 1,983,904 | |
| Cash | | | 723,715 | | | | 139,610 | |
| Receivables: | | | | | | | | |
| Investments in affiliated underlying funds sold | | | 2,012,162 | | | | 336,605 | |
| Fund shares sold | | | 168,864 | | | | 58,536 | |
| Interest | | | 1,131 | | | | 219 | |
| Prepaid expenses | | | 1,488 | | | | 242 | |
| Reimbursement due from Investment Adviser | | | 91,647 | | | | 22,507 | |
| Other assets | | | 3,018 | | | | 281 | |
| Total assets | | | 507,910,099 | | | | 120,956,794 | |
| | | | | | | | | |
| LIABILITIES: | | | | | | | | |
| Payable for fund shares redeemed | | | 2,181,015 | | | | 395,128 | |
| Payable for investment management fees | | | 85,562 | | | | 20,400 | |
| Payable for distribution and shareholder service fees | | | 10,536 | | | | 3,124 | |
| Payable to directors under the deferred compensation plan (Note 6) | | | 3,018 | | | | 281 | |
| Payable for directors fees | | | 1,200 | | | | 320 | |
| Other accrued expenses and liabilities | | | 29,631 | | | | 14,091 | |
| Total liabilities | | | 2,310,962 | | | | 433,344 | |
| NET ASSETS | | $ | 505,599,137 | | | $ | 120,523,450 | |
| | | | | | | | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | | |
| Paid-in capital | | $ | 443,025,275 | | | $ | 105,394,071 | |
| Total distributable earnings | | | 62,573,862 | | | | 15,129,379 | |
| NET ASSETS | | $ | 505,599,137 | | | $ | 120,523,450 | |
| | | | | | | | | |
| * Cost of investments in affiliated underlying funds | | $ | 413,349,087 | | | $ | 101,555,159 | |
| ** Cost of investments in unaffiliated underlying funds | | $ | 8,942,010 | | | $ | 1,953,959 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2024 (Unaudited) (continued)
| | | Voya Index
Solution 2060
Portfolio | | Voya Index
Solution 2065
Portfolio |
| Class ADV | | | | | | | | |
| Net assets | | $ | 18,050,864 | | | $ | 4,081,820 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 1,205,787 | | | | 318,436 | |
| Net asset value and redemption price per share | | $ | 14.97 | | | $ | 12.82 | |
| | | | | | | | | |
| Class I | | | | | | | | |
| Net assets | | $ | 37,776,344 | | | $ | 13,414,142 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 2,451,677 | | | | 1,035,262 | |
| Net asset value and redemption price per share | | $ | 15.41 | | | $ | 12.96 | |
| | | | | | | | | |
| Class S | | | | | | | | |
| Net assets | | $ | 8,970,051 | | | $ | 3,771,902 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 590,083 | | | | 292,837 | |
| Net asset value and redemption price per share | | $ | 15.20 | | | $ | 12.88 | |
| | | | | | | | | |
| Class S2 | | | | | | | | |
| Net assets | | $ | 4,021,940 | | | $ | 2,088,396 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 266,898 | | | | 162,764 | |
| Net asset value and redemption price per share | | $ | 15.07 | | | $ | 12.83 | |
| | | | | | | | | |
| Class Z | | | | | | | | |
| Net assets | | $ | 436,779,938 | | | $ | 97,167,190 | |
| Shares authorized | | | 100,000,000 | | | | 100,000,000 | |
| Par value | | $ | 0.001 | | | $ | 0.001 | |
| Shares outstanding | | | 27,874,159 | | | | 7,457,345 | |
| Net asset value and redemption price per share | | $ | 15.67 | | | $ | 13.03 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | Voya Index
Solution Income Portfolio | | Voya Index
Solution 2025 Portfolio | | Voya Index
Solution 2030 Portfolio | | Voya Index
Solution 2035 Portfolio |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 8,837,662 | | | $ | 12,869,309 | | | $ | 11,264,337 | | | $ | 18,161,856 | |
| Dividends from unaffiliated underlying funds | | | 1,976,994 | | | | 2,183,209 | | | | 1,326,423 | | | | 1,288,109 | |
| Interest | | | 248 | | | | 19,722 | | | | 47,125 | | | | 51,577 | |
| Other | | | 2,097 | | | | 3,362 | | | | 2,877 | | | | 4,741 | |
| Total investment income | | | 10,817,001 | | | | 15,075,602 | | | | 12,640,762 | | | | 19,506,283 | |
| | | | | | | | | | | | | | | | | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 784,122 | | | | 1,203,654 | | | | 1,001,549 | | | | 1,593,019 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 154,298 | | | | 296,670 | | | | 96,221 | | | | 319,850 | |
| Class S | | | 107,744 | | | | 112,611 | | | | 18,915 | | | | 115,850 | |
| Class S2 | | | 39,552 | | | | 75,167 | | | | 41,651 | | | | 102,756 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 13,155 | | | | 23,751 | | | | 12,514 | | | | 31,892 | |
| Class I | | | 2,535 | | | | 8,627 | | | | 4,213 | | | | 15,548 | |
| Class S | | | 18,364 | | | | 18,032 | | | | 4,920 | | | | 23,103 | |
| Class S2 | | | 4,213 | | | | 7,522 | | | | 6,772 | | | | 12,805 | |
| Class Z | | | 70 | | | | 113 | | | | 123 | | | | 109 | |
| Shareholder reporting expense | | | 2,063 | | | | 4,460 | | | | 4,272 | | | | 2,358 | |
| Registration fees | | | — | | | | — | | | | 2,016 | | | | 7,323 | |
| Professional fees | | | 22,022 | | | | 36,580 | | | | 35,198 | | | | 59,680 | |
| Custody and accounting expense | | | 15,049 | | | | 29,060 | | | | 22,750 | | | | 35,490 | |
| Directors fees | | | 10,536 | | | | 15,680 | | | | 19,540 | | | | 34,260 | |
| Miscellaneous expense | | | 17,876 | | | | 26,263 | | | | 22,131 | | | | 32,462 | |
| Interest expense | | | 2,178 | | | | — | | | | — | | | | — | |
| Total expenses | | | 1,193,777 | | | | 1,858,190 | | | | 1,292,785 | | | | 2,386,505 | |
| Waived and reimbursed fees | | | (842,290 | ) | | | (1,301,169 | ) | | | (1,095,849 | ) | | | (1,745,995 | ) |
| Net expenses | | | 351,487 | | | | 557,021 | | | | 196,936 | | | | 640,510 | |
| Net investment income | | | 10,465,514 | | | | 14,518,581 | | | | 12,443,826 | | | | 18,865,773 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | 10,257,162 | | | | 28,316,752 | | | | 13,932,998 | | | | 23,538,217 | |
| Sale of unaffiliated underlying funds | | | (659,459 | ) | | | (914,622 | ) | | | (16,193 | ) | | | (9,066 | ) |
| Capital gain distributions from affiliated underlying funds | | | 76,190 | | | | 336,280 | | | | 450,790 | | | | 746,380 | |
| Net realized gain | | | 9,673,893 | | | | 27,738,410 | | | | 14,367,595 | | | | 24,275,531 | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Affiliated underlying funds | | | 2,803,663 | | | | 13,194,331 | | | | 29,234,575 | | | | 67,982,263 | |
| Unaffiliated underlying funds | | | (591,129 | ) | | | (800,067 | ) | | | (1,217,928 | ) | | | (1,955,695 | ) |
| Net change in unrealized appreciation (depreciation) | | | 2,212,534 | | | | 12,394,264 | | | | 28,016,647 | | | | 66,026,568 | |
| Net realized and unrealized gain | | | 11,886,427 | | | | 40,132,674 | | | | 42,384,242 | | | | 90,302,099 | |
| Increase in net assets resulting from operations | | $ | 22,351,941 | | | $ | 54,651,255 | | | $ | 54,828,068 | | | $ | 109,167,872 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | Voya Index | | Voya Index | | Voya Index | | Voya Index |
| | | Solution 2040 | | Solution 2045 | | Solution 2050 | | Solution 2055 |
| | | Portfolio | | Portfolio | | Portfolio | | Portfolio |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 10,440,530 | | | $ | 12,894,974 | | | $ | 8,112,321 | | | $ | 8,147,764 | |
| Dividends from unaffiliated underlying funds | | | 792,812 | | | | 1,030,412 | | | | 250,008 | | | | 255,789 | |
| Interest | | | 35,756 | | | | 39,542 | | | | 20,940 | | | | 20,167 | |
| Other | | | 2,922 | | | | 3,793 | | | | 2,393 | | | | 2,451 | |
| Total investment income | | | 11,272,020 | | | | 13,968,721 | | | | 8,385,662 | | | | 8,426,171 | |
| | | | | | | | | | | | | | | | | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Investment management fees | | | 986,195 | | | | 1,282,201 | | | | 798,013 | | | | 817,206 | |
| Distribution and shareholder service fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 74,910 | | | | 263,033 | | | | 56,324 | | | | 137,940 | |
| Class S | | | 18,581 | | | | 80,611 | | | | 15,646 | | | | 50,170 | |
| Class S2 | | | 11,982 | | | | 81,084 | | | | 10,688 | | | | 60,264 | |
| Transfer agent fees: | | | | | | | | | | | | | | | | |
| Class ADV | | | 12,738 | | | | 35,131 | | | | 10,361 | | | | 25,293 | |
| Class I | | | 6,131 | | | | 18,209 | | | | 8,836 | | | | 23,720 | |
| Class S | | | 6,319 | | | | 21,534 | | | | 5,757 | | | | 18,392 | |
| Class S2 | | | 2,547 | | | | 13,535 | | | | 2,455 | | | | 13,797 | |
| Class Z | | | 129 | | | | 88 | | | | 330 | | | | 285 | |
| Shareholder reporting expense | | | 3,240 | | | | 4,472 | | | | 2,747 | | | | 4,115 | |
| Registration fees | | | 6,328 | | | | 7,178 | | | | 6,946 | | | | 6,631 | |
| Professional fees | | | 38,936 | | | | 47,640 | | | | 23,129 | | | | 22,601 | |
| Custody and accounting expense | | | 21,840 | | | | 28,210 | | | | 18,335 | | | | 18,293 | |
| Directors fees | | | 19,040 | | | | 26,680 | | | | 9,788 | | | | 10,138 | |
| Miscellaneous expense | | | 20,131 | | | | 26,443 | | | | 15,213 | | | | 17,972 | |
| Total expenses | | | 1,229,047 | | | | 1,936,049 | | | | 984,568 | | | | 1,226,817 | |
| Waived and reimbursed fees | | | (1,084,957 | ) | | | (1,407,816 | ) | | | (866,146 | ) | | | (887,175 | ) |
| Net expenses | | | 144,090 | | | | 528,233 | | | | 118,422 | | | | 339,642 | |
| Net investment income | | | 11,127,930 | | | | 13,440,488 | | | | 8,267,240 | | | | 8,086,529 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | | | | | | | | | |
| Sale of affiliated underlying funds | | | 14,488,148 | | | | 18,472,506 | | | | 10,662,287 | | | | 10,117,417 | |
| Sale of unaffiliated underlying funds | | | — | | | | 85,855 | | | | 48,055 | | | | 41,640 | |
| Capital gain distributions from affiliated underlying funds | | | 587,116 | | | | 765,756 | | | | 511,161 | | | | 524,212 | |
| Net realized gain | | | 15,075,264 | | | | 19,324,117 | | | | 11,221,503 | | | | 10,683,269 | |
Net change in unrealized appreciation (depreciation) on: | | | | | | | | | | | | | | | | |
| Affiliated underlying funds | | | 52,487,182 | | | | 78,655,148 | | | | 53,556,693 | | | | 56,349,469 | |
| Unaffiliated underlying funds | | | (1,210,939 | ) | | | (1,666,358 | ) | | | (1,004,490 | ) | | | (1,022,146 | ) |
| Net change in unrealized appreciation (depreciation) | | | 51,276,243 | | | | 76,988,790 | | | | 52,552,203 | | | | 55,327,323 | |
| Net realized and unrealized gain | | | 66,351,507 | | | | 96,312,907 | | | | 63,773,706 | | | | 66,010,592 | |
| Increase in net assets resulting from operations | | $ | 77,479,437 | | | $ | 109,753,395 | | | $ | 72,040,946 | | | $ | 74,097,121 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF OPERATIONS for the six months ended June 30, 2024 (Unaudited)
| | | Voya Index | | Voya Index |
| | | Solution 2060 | | Solution 2065 |
| | | Portfolio | | Portfolio |
| INVESTMENT INCOME: | | | | | | | | |
| Dividends from affiliated underlying funds | | $ | 4,831,220 | | | $ | 1,116,674 | |
| Dividends from unaffiliated underlying funds | | | 149,129 | | | | 31,987 | |
| Interest | | | 12,183 | | | | 1,208 | |
| Other | | | 1,428 | | | | 306 | |
| Total investment income | | | 4,993,960 | | | | 1,150,175 | |
| | | | | | | | | |
| EXPENSES: | | | | | | | | |
| Investment management fees | | | 481,256 | | | | 107,375 | |
| Distribution and shareholder service fees: | | | | | | | | |
| Class ADV | | | 43,786 | | | | 10,055 | |
| Class S | | | 10,853 | | | | 4,592 | |
| Class S2 | | | 7,189 | | | | 3,430 | |
| Transfer agent fees: | | | | | | | | |
| Class ADV | | | 6,867 | | | | 1,976 | |
| Class I | | | 13,596 | | | | 5,463 | |
| Class S | | | 3,404 | | | | 1,804 | |
| Class S2 | | | 1,407 | | | | 839 | |
| Class Z | | | 186 | | | | 169 | |
| Shareholder reporting expense | | | 2,405 | | | | 1,721 | |
| Registration fees | | | 5,308 | | | | 1,968 | |
| Professional fees | | | 14,112 | | | | 3,839 | |
| Custody and accounting expense | | | 11,345 | | | | 3,514 | |
| Directors fees | | | 5,517 | | | | 1,123 | |
| Miscellaneous expense | | | 10,954 | | | | 5,078 | |
| Total expenses | | | 618,185 | | | | 152,946 | |
| Waived and reimbursed fees | | | (526,063 | ) | | | (123,869 | ) |
| Net expenses | | | 92,122 | | | | 29,077 | |
| Net investment income | | | 4,901,838 | | | | 1,121,098 | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | | |
| Net realized gain (loss) on: | | | | | | | | |
| Sale of affiliated underlying funds | | | 5,619,759 | | | | 1,238,951 | |
| Sale of unaffiliated underlying funds | | | 11,330 | | | | — | |
| Capital gain distributions from affiliated underlying funds | | | 310,929 | | | | 71,640 | |
| Net realized gain | | | 5,942,018 | | | | 1,310,591 | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | | |
| Affiliated underlying funds | | | 33,497,739 | | | | 7,489,936 | |
| Unaffiliated underlying funds | | | (576,951 | ) | | | (112,808 | ) |
| Net change in unrealized appreciation (depreciation) | | | 32,920,788 | | | | 7,377,128 | |
| Net realized and unrealized gain | | | 38,862,806 | | | | 8,687,719 | |
| Increase in net assets resulting from operations | | $ | 43,764,644 | | | $ | 9,808,817 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Index
Solution Income Portfolio | | Voya Index
Solution 2025 Portfolio |
| | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 10,465,514 | | | $ | 18,534,960 | | | $ | 14,518,581 | | | $ | 20,011,932 | |
| Net realized gain (loss) | | | 9,673,893 | | | | (76,579,816 | ) | | | 27,738,410 | | | | (84,317,664 | ) |
| Net change in unrealized appreciation (depreciation) | | | 2,212,534 | | | | 128,595,120 | | | | 12,394,264 | | | | 201,985,936 | |
| Increase in net assets resulting from operations | | | 22,351,941 | | | | 70,550,264 | | | | 54,651,255 | | | | 137,680,204 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (2,366,049 | ) | | | — | | | | (6,337,632 | ) |
| Class I | | | — | | | | (497,279 | ) | | | — | | | | (2,500,404 | ) |
| Class S | | | — | | | | (3,563,536 | ) | | | — | | | | (5,163,738 | ) |
| Class S2 | | | — | | | | (692,207 | ) | | | — | | | | (1,805,786 | ) |
| Class Z | | | — | | | | (21,350,352 | ) | | | — | | | | (44,054,777 | ) |
| Total distributions | | | — | | | | (28,469,423 | ) | | | — | | | | (59,862,337 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 13,804,606 | | | | 37,575,830 | | | | 30,039,157 | | | | 67,718,579 | |
| Reinvestment of distributions | | | — | | | | 28,469,423 | | | | — | | | | 59,862,337 | |
| | | | 13,804,606 | | | | 66,045,253 | | | | 30,039,157 | | | | 127,580,916 | |
| Cost of shares redeemed | | | (79,059,923 | ) | | | (115,574,848 | ) | | | (132,486,741 | ) | | | (155,720,161 | ) |
| Net decrease in net assets resulting from capital share transactions | | | (65,255,317 | ) | | | (49,529,595 | ) | | | (102,447,584 | ) | | | (28,139,245 | ) |
| Net increase (decrease) in net assets | | | (42,903,376 | ) | | | (7,448,754 | ) | | | (47,796,329 | ) | | | 49,678,622 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 683,422,919 | | | | 690,871,673 | | | | 1,094,834,329 | | | | 1,045,155,707 | |
| End of year or period | | $ | 640,519,543 | | | $ | 683,422,919 | | | $ | 1,047,038,000 | | | $ | 1,094,834,329 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Index Solution 2030 Portfolio | | Voya Index Solution 2035 Portfolio |
| | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 12,443,826 | | | $ | 13,659,159 | | | $ | 18,865,773 | | | $ | 15,959,991 | |
| Net realized gain (loss) | | | 14,367,595 | | | | (65,485,028 | ) | | | 24,275,531 | | | | (111,814,045 | ) |
| Net change in unrealized appreciation (depreciation) | | | 28,016,647 | | | | 174,823,700 | | | | 66,026,568 | | | | 314,326,203 | |
| Increase in net assets resulting from operations | | | 54,828,068 | | | | 122,997,831 | | | | 109,167,872 | | | | 218,472,149 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (2,635,400 | ) | | | — | | | | (9,884,830 | ) |
| Class I | | | — | | | | (805,503 | ) | | | — | | | | (4,797,108 | ) |
| Class S | | | — | | | | (1,096,605 | ) | | | — | | | | (7,205,831 | ) |
| Class S2 | | | — | | | | (1,115,490 | ) | | | — | | | | (3,414,569 | ) |
| Class Z | | | — | | | | (55,188,688 | ) | | | — | | | | (86,935,022 | ) |
| Total distributions | | | — | | | | (60,841,686 | ) | | | — | | | | (112,237,360 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 40,325,342 | | | | 83,387,519 | | | | 67,631,308 | | | | 146,295,693 | |
| Reinvestment of distributions | | | — | | | | 60,841,686 | | | | — | | | | 112,237,360 | |
| | | | 40,325,342 | | | | 144,229,205 | | | | 67,631,308 | | | | 258,533,053 | |
| Cost of shares redeemed | | | (62,351,337 | ) | | | (89,271,983 | ) | | | (101,818,857 | ) | | | (111,983,776 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (22,025,995 | ) | | | 54,957,222 | | | | (34,187,549 | ) | | | 146,549,277 | |
| Net increase in net assets | | | 32,802,073 | | | | 117,113,367 | | | | 74,980,323 | | | | 252,784,066 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 914,492,668 | | | | 797,379,301 | | | | 1,501,530,384 | | | | 1,248,746,318 | |
| End of year or period | | $ | 947,294,741 | | | $ | 914,492,668 | | | $ | 1,576,510,707 | | | $ | 1,501,530,384 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Index
Solution 2040 Portfolio | | Voya Index
Solution 2045 Portfolio |
| | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 11,127,930 | | | $ | 6,493,855 | | | $ | 13,440,488 | | | $ | 5,017,017 | |
| Net realized gain (loss) | | | 15,075,264 | | | | (64,203,840 | ) | | | 19,324,117 | | | | (77,036,691 | ) |
| Net change in unrealized appreciation (depreciation) | | | 51,276,243 | | | | 200,442,574 | | | | 76,988,790 | | | | 266,104,835 | |
| Increase in net assets resulting from operations | | | 77,479,437 | | | | 142,732,589 | | | | 109,753,395 | | | | 194,085,161 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (2,220,501 | ) | | | — | | | | (9,009,512 | ) |
| Class I | | | — | | | | (1,022,833 | ) | | | — | | | | (5,058,193 | ) |
| Class S | | | — | | | | (1,066,425 | ) | | | — | | | | (5,559,066 | ) |
| Class S2 | | | — | | | | (414,574 | ) | | | — | | | | (3,060,692 | ) |
| Class Z | | | — | | | | (63,477,601 | ) | | | — | | | | (77,619,082 | ) |
| Total distributions | | | — | | | | (68,201,934 | ) | | | — | | | | (100,306,545 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 46,509,581 | | | | 106,594,540 | | | | 58,309,323 | | | | 122,175,304 | |
| Reinvestment of distributions | | | — | | | | 68,201,934 | | | | — | | | | 100,306,545 | |
| | | | 46,509,581 | | | | 174,796,474 | | | | 58,309,323 | | | | 222,481,849 | |
| Cost of shares redeemed | | | (59,110,935 | ) | | | (58,275,521 | ) | | | (71,900,763 | ) | | | (80,431,957 | ) |
| Net increase (decrease) in net assets resulting from capital share transactions | | | (12,601,354 | ) | | | 116,520,953 | | | | (13,591,440 | ) | | | 142,049,892 | |
| Net increase in net assets | | | 64,878,083 | | | | 191,051,608 | | | | 96,161,955 | | | | 235,828,508 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 921,722,757 | | | | 730,671,149 | | | | 1,193,125,880 | | | | 957,297,372 | |
| End of year or period | | $ | 986,600,840 | | | $ | 921,722,757 | | | $ | 1,289,287,835 | | | $ | 1,193,125,880 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Index Solution 2050 Portfolio | | Voya Index Solution 2055 Portfolio |
| | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 8,267,240 | | | $ | 2,363,068 | | | $ | 8,086,529 | | | $ | 1,812,018 | |
| Net realized gain (loss) | | | 11,221,503 | | | | (46,413,737 | ) | | | 10,683,269 | | | | (44,973,696 | ) |
| Net change in unrealized appreciation (depreciation) | | | 52,552,203 | | | | 164,724,258 | | | | 55,327,323 | | | | 166,733,372 | |
| Increase in net assets resulting from operations | | | 72,040,946 | | | | 120,673,589 | | | | 74,097,121 | | | | 123,571,694 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (1,670,097 | ) | | | — | | | | (4,016,524 | ) |
| Class I | | | — | | | | (1,337,654 | ) | | | — | | | | (3,799,514 | ) |
| Class S | | | — | | | | (950,666 | ) | | | — | | | | (2,842,817 | ) |
| Class S2 | | | — | | | | (356,003 | ) | | | — | | | | (1,884,236 | ) |
| Class Z | | | — | | | | (51,224,722 | ) | | | — | | | | (43,205,136 | ) |
| Total distributions | | | — | | | | (55,539,142 | ) | | | — | | | | (55,748,227 | ) |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 46,652,838 | | | | 111,055,102 | | | | 51,534,877 | | | | 112,888,968 | |
| Reinvestment of distributions | | | — | | | | 55,539,142 | | | | — | | | | 55,748,227 | |
| | | | 46,652,838 | | | | 166,594,244 | | | | 51,534,877 | | | | 168,637,195 | |
| Cost of shares redeemed | | | (39,185,717 | ) | | | (41,573,977 | ) | | | (46,179,350 | ) | | | (39,078,400 | ) |
| Net increase in net assets resulting from capital share transactions | | | 7,467,121 | | | | 125,020,267 | | | | 5,355,527 | | | | 129,558,795 | |
| Net increase in net assets | | | 79,508,067 | | | | 190,154,714 | | | | 79,452,648 | | | | 197,382,262 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 746,717,680 | | | | 556,562,966 | | | | 767,374,179 | | | | 569,991,917 | |
| End of year or period | | $ | 826,225,747 | | | $ | 746,717,680 | | | $ | 846,826,827 | | | $ | 767,374,179 | |
See Accompanying Notes to Financial Statements
STATEMENTS OF CHANGES IN NET ASSETS
| | | Voya Index Solution 2060 Portfolio | | Voya Index Solution 2065 Portfolio |
| | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 | | Six Months
Ended June 30, 2024 (Unaudited) | | Year Ended
December 31, 2023 |
| FROM OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income | | $ | 4,901,838 | | | $ | 1,109,750 | | | $ | 1,121,098 | | | $ | 180,200 | |
| Net realized gain (loss) | | | 5,942,018 | | | | (27,542,061 | ) | | | 1,310,591 | | | | (2,727,640 | ) |
| Net change in unrealized appreciation (depreciation) | | | 32,920,788 | | | | 95,387,562 | | | | 7,377,128 | | | | 14,897,419 | |
| Increase in net assets resulting from operations | | | 43,764,644 | | | | 68,955,251 | | | | 9,808,817 | | | | 12,349,979 | |
| | | | | | | | | | | | | | | | | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions (excluding return of capital): | | | | | | | | | | | | | | | | |
| Class ADV | | | — | | | | (1,061,699 | ) | | | — | | | | — | |
| Class I | | | — | | | | (1,973,710 | ) | | | — | | | | — | |
| Class S | | | — | | | | (514,887 | ) | | | — | | | | — | |
| Class S2 | | | — | | | | (194,869 | ) | | | — | | | | — | |
| Class Z | | | — | | | | (23,950,349 | ) | | | — | | | | — | |
| Total distributions | | | — | | | | (27,695,514 | ) | | | — | | | | — | |
| | | | | | | | | | | | | | | | | |
| FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Net proceeds from sale of shares | | | 43,367,317 | | | | 90,136,541 | | | | 26,643,894 | | | | 40,670,874 | |
| Reinvestment of distributions | | | — | | | | 27,695,514 | | | | — | | | | — | |
| | | | 43,367,317 | | | | 117,832,055 | | | | 26,643,894 | | | | 40,670,874 | |
| Cost of shares redeemed | | | (23,054,234 | ) | | | (20,339,907 | ) | | | (6,151,132 | ) | | | (6,536,429 | ) |
| Net increase in net assets resulting from capital share transactions | | | 20,313,083 | | | | 97,492,148 | | | | 20,492,762 | | | | 34,134,445 | |
| Net increase in net assets | | | 64,077,727 | | | | 138,751,885 | | | | 30,301,579 | | | | 46,484,424 | |
| | | | | | | | | | | | | | | | | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of year or period | | | 441,521,410 | | | | 302,769,525 | | | | 90,221,871 | | | | 43,737,447 | |
| End of year or period | | $ | 505,599,137 | | | $ | 441,521,410 | | | $ | 120,523,450 | | | $ | 90,221,871 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial interest outstanding throughout each year or period.
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution Income Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.28 | | | 0.13 | • | | 0.17 | | | | 0.30 | | | — | | | — | | | — | | | — | | | — | | | 9.58 | | | 3.23 | | | | 0.80 | | | 0.54 | | | 0.54 | | | 2.77 | | | 58,891 | | | 10 | |
| 12-31-23 | | | 8.72 | | | 0.20 | • | | 0.70 | | | | 0.90 | | | 0.19 | | | 0.15 | | | — | | | 0.34 | | | — | | | 9.28 | | | 10.46 | | | | 0.80 | | | 0.54 | | | 0.54 | | | 2.28 | | | 62,868 | | | 128 | |
| 12-31-22 | | | 11.45 | | | 0.16 | • | | (1.77 | ) | | | (1.61 | ) | | 0.26 | | | 0.86 | | | — | | | 1.12 | | | — | | | 8.72 | | | (14.57 | ) | | | 0.78 | | | 0.71 | | | 0.71 | | | 1.67 | | | 69,320 | | | 51 | |
| 12-31-21 | | | 11.27 | | | 0.16 | • | | 0.47 | | | | 0.63 | | | 0.16 | | | 0.29 | | | — | | | 0.45 | | | — | | | 11.45 | | | 5.62 | | | | 0.80 | | | 0.74 | | | 0.74 | | | 1.40 | | | 96,649 | | | 30 | |
| 12-31-20 | | | 10.54 | | | 0.20 | • | | 0.91 | | | | 1.11 | | | 0.17 | | | 0.21 | | | — | | | 0.38 | | | — | | | 11.27 | | | 10.74 | | | | 0.79 | | | 0.74 | | | 0.74 | | | 1.85 | | | 104,557 | | | 45 | |
| 12-31-19 | | | 9.66 | | | 0.16 | • | | 1.05 | | | | 1.21 | | | 0.18 | | | 0.15 | | | — | | | 0.33 | | | — | | | 10.54 | | | 12.62 | | | | 0.76 | | | 0.74 | | | 0.74 | | | 1.52 | | | 81,027 | | | 38 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.57 | | | 0.16 | • | | 0.17 | | | | 0.33 | | | — | | | — | | | — | | | — | | | — | | | 9.90 | | | 3.45 | | | | 0.30 | | | 0.04 | | | 0.04 | | | 3.24 | | | 11,592 | | | 10 | |
| 12-31-23 | | | 8.99 | | | 0.26 | • | | 0.71 | | | | 0.97 | | | 0.24 | | | 0.15 | | | — | | | 0.39 | | | — | | | 9.57 | | | 11.04 | | | | 0.30 | | | 0.04 | | | 0.04 | | | 2.78 | | | 13,348 | | | 128 | |
| 12-31-22 | | | 11.78 | | | 0.22 | • | | (1.82 | ) | | | (1.60 | ) | | 0.33 | | | 0.86 | | | — | | | 1.19 | | | — | | | 8.99 | | | (14.13 | ) | | | 0.28 | | | 0.21 | | | 0.21 | | | 2.17 | | | 11,434 | | | 51 | |
| 12-31-21 | | | 11.58 | | | 0.22 | • | | 0.48 | | | | 0.70 | | | 0.21 | | | 0.29 | | | — | | | 0.50 | | | — | | | 11.78 | | | 6.09 | | | | 0.30 | | | 0.24 | | | 0.24 | | | 1.87 | | | 15,867 | | | 30 | |
| 12-31-20 | | | 10.82 | | | 0.25 | • | | 0.95 | | | | 1.20 | | | 0.23 | | | 0.21 | | | — | | | 0.44 | | | — | | | 11.58 | | | 11.32 | | | | 0.29 | | | 0.24 | | | 0.24 | | | 2.31 | | | 20,513 | | | 45 | |
| 12-31-19 | | | 9.92 | | | 0.21 | • | | 1.08 | | | | 1.29 | | | 0.24 | | | 0.15 | | | — | | | 0.39 | | | — | | | 10.82 | | | 13.16 | | | | 0.26 | | | 0.24 | | | 0.24 | | | 2.02 | | | 18,653 | | | 38 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.46 | | | 0.14 | • | | 0.18 | | | | 0.32 | | | — | | | — | | | — | | | — | | | — | | | 9.78 | | | 3.38 | | | | 0.55 | | | 0.29 | | | 0.29 | | | 3.00 | | | 85,453 | | | 10 | |
| 12-31-23 | | | 8.89 | | | 0.23 | • | | 0.70 | | | | 0.93 | | | 0.21 | | | 0.15 | | | — | | | 0.36 | | | — | | | 9.46 | | | 10.72 | | | | 0.55 | | | 0.29 | | | 0.29 | | | 2.53 | | | 89,413 | | | 128 | |
| 12-31-22 | | | 11.65 | | | 0.19 | • | | (1.80 | ) | | | (1.61 | ) | | 0.29 | | | 0.86 | | | — | | | 1.15 | | | — | | | 8.89 | | | (14.32 | ) | | | 0.53 | | | 0.46 | | | 0.46 | | | 1.92 | | | 94,618 | | | 51 | |
| 12-31-21 | | | 11.46 | | | 0.19 | • | | 0.47 | | | | 0.66 | | | 0.18 | | | 0.29 | | | — | | | 0.47 | | | — | | | 11.65 | | | 5.81 | | | | 0.55 | | | 0.49 | | | 0.49 | | | 1.65 | | | 131,694 | | | 30 | |
| 12-31-20 | | | 10.71 | | | 0.23 | | | 0.93 | | | | 1.16 | | | 0.20 | | | 0.21 | | | — | | | 0.41 | | | — | | | 11.46 | | | 11.05 | | | | 0.54 | | | 0.49 | | | 0.49 | | | 2.10 | | | 147,405 | | | 45 | |
| 12-31-19 | | | 9.82 | | | 0.19 | • | | 1.06 | | | | 1.25 | | | 0.21 | | | 0.15 | | | — | | | 0.36 | | | — | | | 10.71 | | | 12.88 | | | | 0.51 | | | 0.49 | | | 0.49 | | | 1.78 | | | 136,385 | | | 38 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.17 | | | 0.13 | • | | 0.17 | | | | 0.30 | | | — | | | — | | | — | | | — | | | — | | | 9.47 | | | 3.27 | | | | 0.70 | | | 0.44 | | | 0.44 | | | 2.89 | | | 20,294 | | | 10 | |
| 12-31-23 | | | 8.63 | | | 0.21 | • | | 0.69 | | | | 0.90 | | | 0.21 | | | 0.15 | | | — | | | 0.36 | | | — | | | 9.17 | | | 10.59 | | | | 0.70 | | | 0.44 | | | 0.44 | | | 2.38 | | | 18,715 | | | 128 | |
| 12-31-22 | | | 11.36 | | | 0.18 | • | | (1.76 | ) | | | (1.58 | ) | | 0.29 | | | 0.86 | | | — | | | 1.15 | | | — | | | 8.63 | | | (14.47 | ) | | | 0.68 | | | 0.61 | | | 0.61 | | | 1.81 | | | 16,493 | | | 51 | |
| 12-31-21 | | | 11.20 | | | 0.17 | • | | 0.47 | | | | 0.64 | | | 0.19 | | | 0.29 | | | — | | | 0.48 | | | — | | | 11.36 | | | 5.69 | | | | 0.70 | | | 0.64 | | | 0.64 | | | 1.50 | | | 18,519 | | | 30 | |
| 12-31-20 | | | 10.48 | | | 0.21 | • | | 0.90 | | | | 1.11 | | | 0.18 | | | 0.21 | | | — | | | 0.39 | | | — | | | 11.20 | | | 10.79 | | | | 0.69 | | | 0.64 | | | 0.64 | | | 1.99 | | | 16,526 | | | 45 | |
| 12-31-19 | | | 9.61 | | | 0.16 | • | | 1.05 | | | | 1.21 | | | 0.19 | | | 0.15 | | | — | | | 0.34 | | | — | | | 10.48 | | | 12.70 | | | | 0.66 | | | 0.64 | | | 0.64 | | | 1.55 | | | 8,387 | | | 38 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.73 | | | 0.16 | • | | 0.19 | | | | 0.35 | | | — | | | — | | | — | | | — | | | — | | | 10.08 | | | 3.60 | | | | 0.26 | | | 0.00 | * | | 0.00 | * | | 3.29 | | | 464,290 | | | 10 | |
| 12-31-23 | | | 9.16 | | | 0.27 | • | | 0.71 | | | | 0.98 | | | 0.26 | | | 0.15 | | | — | | | 0.41 | | | — | | | 9.73 | | | 10.98 | | | | 0.26 | | | 0.00 | * | | 0.00 | * | | 2.82 | | | 499,079 | | | 128 | |
| 12-31-22 | | | 11.96 | | | 0.24 | • | | (1.85 | ) | | | (1.61 | ) | | 0.33 | | | 0.86 | | | — | | | 1.19 | | | — | | | 9.16 | | | (13.94 | ) | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.38 | | | 499,006 | | | 51 | |
| 12-31-21 | | | 11.72 | | | 0.25 | • | | 0.50 | | | | 0.75 | | | 0.22 | | | 0.29 | | | — | | | 0.51 | | | — | | | 11.96 | | | 6.41 | | | | 0.26 | | | 0.00 | * | | 0.00 | * | | 2.14 | | | 669,150 | | | 30 | |
| 12-31-20 | | | 10.93 | | | 0.30 | • | | 0.93 | | | | 1.23 | | | 0.23 | | | 0.21 | | | — | | | 0.44 | | | — | | | 11.72 | | | 11.48 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 2.66 | | | 705,082 | | | 45 | |
| 12-31-19 | | | 9.99 | | | 0.25 | • | | 1.08 | | | | 1.33 | | | 0.24 | | | 0.15 | | | — | | | 0.39 | | | — | | | 10.93 | | | 13.47 | | | | 0.26 | | | 0.00 | * | | 0.00 | * | | 2.32 | | | 230,574 | | | 38 | |
| Voya Index Solution 2025 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.01 | | | 0.12 | • | | 0.38 | | | | 0.50 | | | — | | | — | | | — | | | — | | | — | | | 10.51 | | | 5.00 | | | | 0.79 | | | 0.54 | | | 0.54 | | | 2.33 | | | 114,949 | | | 15 | |
| 12-31-23 | | | 9.31 | | | 0.14 | • | | 1.08 | | | | 1.22 | | | 0.18 | | | 0.34 | | | — | | | 0.52 | | | — | | | 10.01 | | | 13.35 | | | | 0.79 | | | 0.54 | | | 0.54 | | | 1.45 | | | 121,090 | | | 127 | |
| 12-31-22 | | | 12.53 | | | 0.16 | • | | (2.13 | ) | | | (1.97 | ) | | 0.20 | | | 1.05 | | | — | | | 1.25 | | | — | | | 9.31 | | | (16.26 | ) | | | 0.77 | | | 0.70 | | | 0.70 | | | 1.48 | | | 123,760 | | | 50 | |
| 12-31-21 | | | 12.08 | | | 0.13 | • | | 1.09 | | | | 1.22 | | | 0.22 | | | 0.55 | | | — | | | 0.77 | | | — | | | 12.53 | | | 10.20 | | | | 0.79 | | | 0.74 | | | 0.74 | | | 1.07 | | | 176,976 | | | 40 | |
| 12-31-20 | | | 11.22 | | | 0.19 | • | | 1.17 | | | | 1.36 | | | 0.17 | | | 0.33 | | | — | | | 0.50 | | | — | | | 12.08 | | | 12.50 | | | | 0.79 | | | 0.74 | | | 0.74 | | | 1.70 | | | 186,131 | | | 50 | |
| 12-31-19 | | | 9.99 | | | 0.17 | • | | 1.61 | | | | 1.78 | | | 0.16 | | | 0.39 | | | — | | | 0.55 | | | — | | | 11.22 | | | 18.15 | | | | 0.75 | | | 0.72 | | | 0.72 | | | 1.55 | | | 193,477 | | | 28 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.32 | | | 0.15 | • | | 0.40 | | | | 0.55 | | | — | | | — | | | — | | | — | | | — | | | 10.87 | | | 5.33 | | | | 0.29 | | | 0.04 | | | 0.04 | | | 2.78 | | | 42,886 | | | 15 | |
| 12-31-23 | | | 9.59 | | | 0.19 | • | | 1.11 | | | | 1.30 | | | 0.23 | | | 0.34 | | | — | | | 0.57 | | | — | | | 10.32 | | | 13.92 | | | | 0.29 | | | 0.04 | | | 0.04 | | | 1.95 | | | 46,876 | | | 127 | |
| 12-31-22 | | | 12.88 | | | 0.22 | • | | (2.18 | ) | | | (1.96 | ) | | 0.28 | | | 1.05 | | | — | | | 1.33 | | | — | | | 9.59 | | | (15.81 | ) | | | 0.27 | | | 0.20 | | | 0.20 | | | 2.00 | | | 41,957 | | | 50 | |
| 12-31-21 | | | 12.40 | | | 0.20 | • | | 1.11 | | | | 1.31 | | | 0.28 | | | 0.55 | | | — | | | 0.83 | | | — | | | 12.88 | | | 10.70 | | | | 0.29 | | | 0.24 | | | 0.24 | | | 1.56 | | | 53,067 | | | 40 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2025 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class I (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-20 | | | 11.51 | | | 0.24 | • | | 1.21 | | | | 1.45 | | | 0.23 | | | 0.33 | | | — | | | 0.56 | | | — | | | 12.40 | | | 13.05 | | | | 0.29 | | | 0.24 | | | 0.24 | | | 2.13 | | | 52,341 | | | 50 | |
| 12-31-19 | | | 10.24 | | | 0.23 | • | | 1.65 | | | | 1.88 | | | 0.22 | | | 0.39 | | | — | | | 0.61 | | | — | | | 11.51 | | | 18.78 | | | | 0.25 | | | 0.22 | | | 0.22 | | | 2.07 | | | 60,504 | | | 28 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.18 | | | 0.13 | • | | 0.40 | | | | 0.53 | | | — | | | — | | | — | | | — | | | — | | | 10.71 | | | 5.21 | | | | 0.54 | | | 0.29 | | | 0.29 | | | 2.50 | | | 86,651 | | | 15 | |
| 12-31-23 | | | 9.46 | | | 0.17 | • | | 1.10 | | | | 1.27 | | | 0.21 | | | 0.34 | | | — | | | 0.55 | | | — | | | 10.18 | | | 13.69 | | | | 0.54 | | | 0.29 | | | 0.29 | | | 1.70 | | | 95,814 | | | 127 | |
| 12-31-22 | | | 12.72 | | | 0.19 | • | | (2.17 | ) | | | (1.98 | ) | | 0.23 | | | 1.05 | | | — | | | 1.28 | | | — | | | 9.46 | | | (16.09 | ) | | | 0.52 | | | 0.45 | | | 0.45 | | | 1.74 | | | 93,780 | | | 50 | |
| 12-31-21 | | | 12.26 | | | 0.17 | • | | 1.09 | | | | 1.26 | | | 0.25 | | | 0.55 | | | — | | | 0.80 | | | — | | | 12.72 | | | 10.42 | | | | 0.54 | | | 0.49 | | | 0.49 | | | 1.33 | | | 134,629 | | | 40 | |
| 12-31-20 | | | 11.38 | | | 0.24 | • | | 1.17 | | | | 1.41 | | | 0.20 | | | 0.33 | | | — | | | 0.53 | | | — | | | 12.26 | | | 12.83 | | | | 0.54 | | | 0.49 | | | 0.49 | | | 1.97 | | | 135,558 | | | 50 | |
| 12-31-19 | | | 10.13 | | | 0.21 | | | 1.62 | | | | 1.83 | | | 0.19 | | | 0.39 | | | — | | | 0.58 | | | — | | | 11.38 | | | 18.46 | | | | 0.50 | | | 0.47 | | | 0.47 | | | 1.82 | | | 133,118 | | | 28 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 9.91 | | | 0.12 | • | | 0.39 | | | | 0.51 | | | — | | | — | | | — | | | — | | | — | | | 10.42 | | | 5.15 | | | | 0.69 | | | 0.44 | | | 0.44 | | | 2.45 | | | 38,360 | | | 15 | |
| 12-31-23 | | | 9.23 | | | 0.15 | • | | 1.07 | | | | 1.22 | | | 0.20 | | | 0.34 | | | — | | | 0.54 | | | — | | | 9.91 | | | 13.47 | | | | 0.69 | | | 0.44 | | | 0.44 | | | 1.55 | | | 36,241 | | | 127 | |
| 12-31-22 | | | 12.45 | | | 0.17 | • | | (2.12 | ) | | | (1.95 | ) | | 0.22 | | | 1.05 | | | — | | | 1.27 | | | — | | | 9.23 | | | (16.21 | ) | | | 0.67 | | | 0.60 | | | 0.60 | | | 1.63 | | | 31,566 | | | 50 | |
| 12-31-21 | | | 12.02 | | | 0.14 | • | | 1.07 | | | | 1.21 | | | 0.23 | | | 0.55 | | | — | | | 0.78 | | | — | | | 12.45 | | | 10.24 | | | | 0.69 | | | 0.64 | | | 0.64 | | | 1.17 | | | 36,074 | | | 40 | |
| 12-31-20 | | | 11.17 | | | 0.20 | • | | 1.18 | | | | 1.38 | | | 0.20 | | | 0.33 | | | — | | | 0.53 | | | — | | | 12.02 | | | 12.71 | | | | 0.69 | | | 0.64 | | | 0.64 | | | 1.85 | | | 36,080 | | | 50 | |
| 12-31-19 | | | 9.96 | | | 0.18 | • | | 1.60 | | | | 1.78 | | | 0.18 | | | 0.39 | | | — | | | 0.57 | | | — | | | 11.17 | | | 18.23 | | | | 0.65 | | | 0.62 | | | 0.62 | | | 1.70 | | | 32,859 | | | 28 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.51 | | | 0.15 | • | | 0.41 | | | | 0.56 | | | — | | | — | | | — | | | — | | | — | | | 11.07 | | | 5.33 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 2.84 | | | 764,192 | | | 15 | |
| 12-31-23 | | | 9.77 | | | 0.20 | • | | 1.14 | | | | 1.34 | | | 0.26 | | | 0.34 | | | — | | | 0.60 | | | — | | | 10.51 | | | 14.00 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 1.99 | | | 794,813 | | | 127 | |
| 12-31-22 | | | 13.09 | | | 0.24 | • | | (2.23 | ) | | | (1.99 | ) | | 0.28 | | | 1.05 | | | — | | | 1.33 | | | — | | | 9.77 | | | (15.74 | ) | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.21 | | | 754,094 | | | 50 | |
| 12-31-21 | | | 12.56 | | | 0.24 | • | | 1.12 | | | | 1.36 | | | 0.28 | | | 0.55 | | | — | | | 0.83 | | | — | | | 13.09 | | | 11.03 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 1.83 | | | 933,768 | | | 40 | |
| 12-31-20 | | | 11.62 | | | 0.29 | • | | 1.21 | | | | 1.50 | | | 0.23 | | | 0.33 | | | — | | | 0.56 | | | — | | | 12.56 | | | 13.36 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.49 | | | 827,543 | | | 50 | |
| 12-31-19 | | | 10.31 | | | 0.26 | • | | 1.66 | | | | 1.92 | | | 0.22 | | | 0.39 | | | — | | | 0.61 | | | — | | | 11.62 | | | 19.04 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 2.35 | | | 685,495 | | | 28 | |
| Voya Index Solution 2030 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.64 | | | 0.16 | • | | 0.69 | | | | 0.85 | | | — | | | — | | | — | | | — | | | — | | | 15.49 | | | 5.81 | | | | 0.80 | | | 0.56 | | | 0.56 | | | 2.18 | | | 38,812 | | | 13 | |
| 12-31-23 | | | 13.69 | | | 0.16 | • | | 1.82 | | | | 1.98 | | | 0.27 | | | 0.76 | | | — | | | 1.03 | | | — | | | 14.64 | | | 14.90 | | | | 0.80 | | | 0.56 | | | 0.56 | | | 1.10 | | | 39,018 | | | 131 | |
| 12-31-22 | | | 18.37 | | | 0.22 | • | | (3.23 | ) | | | (3.01 | ) | | 0.26 | | | 1.41 | | | — | | | 1.67 | | | — | | | 13.69 | | | (16.89 | ) | | | 0.79 | | | 0.70 | | | 0.70 | | | 1.46 | | | 38,122 | | | 52 | |
| 12-31-21 | | | 17.23 | | | 0.18 | • | | 1.84 | | | | 2.02 | | | 0.29 | | | 0.59 | | | — | | | 0.88 | | | — | | | 18.37 | | | 11.80 | | | | 0.81 | | | 0.74 | | | 0.74 | | | 1.00 | | | 46,915 | | | 41 | |
| 12-31-20 | | | 15.89 | | | 0.26 | • | | 1.77 | | | | 2.03 | | | 0.23 | | | 0.46 | | | — | | | 0.69 | | | — | | | 17.23 | | | 13.22 | | | | 0.83 | | | 0.74 | | | 0.74 | | | 1.69 | | | 42,311 | | | 45 | |
| 12-31-19 | | | 13.81 | | | 0.23 | • | | 2.53 | | | | 2.76 | | | 0.20 | | | 0.48 | | | — | | | 0.68 | | | — | | | 15.89 | | | 20.35 | | | | 0.74 | | | 0.73 | | | 0.73 | | | 1.55 | | | 36,621 | | | 29 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.24 | | | 0.21 | • | | 0.71 | | | | 0.92 | | | — | | | — | | | — | | | — | | | — | | | 16.16 | | | 6.04 | | | | 0.30 | | | 0.06 | | | 0.06 | | | 2.66 | | | 13,200 | | | 13 | |
| 12-31-23 | | | 14.21 | | | 0.23 | • | | 1.91 | | | | 2.14 | | | 0.35 | | | 0.76 | | | — | | | 1.11 | | | — | | | 15.24 | | | 15.52 | | | | 0.30 | | | 0.06 | | | 0.06 | | | 1.59 | | | 12,731 | | | 131 | |
| 12-31-22 | | | 19.02 | | | 0.31 | • | | (3.36 | ) | | | (3.05 | ) | | 0.35 | | | 1.41 | | | — | | | 1.76 | | | — | | | 14.21 | | | (16.51 | ) | | | 0.29 | | | 0.20 | | | 0.20 | | | 1.97 | | | 8,703 | | | 52 | |
| 12-31-21 | | | 17.78 | | | 0.28 | • | | 1.90 | | | | 2.18 | | | 0.35 | | | 0.59 | | | — | | | 0.94 | | | — | | | 19.02 | | | 12.40 | | | | 0.31 | | | 0.24 | | | 0.24 | | | 1.51 | | | 10,579 | | | 41 | |
| 12-31-20 | | | 16.37 | | | 0.34 | • | | 1.82 | | | | 2.16 | | | 0.29 | | | 0.46 | | | — | | | 0.75 | | | — | | | 17.78 | | | 13.72 | | | | 0.33 | | | 0.24 | | | 0.24 | | | 2.13 | | | 9,372 | | | 45 | |
| 12-31-19 | | | 14.19 | | | 0.31 | • | | 2.61 | | | | 2.92 | | | 0.26 | | | 0.48 | | | — | | | 0.74 | | | — | | | 16.37 | | | 21.02 | | | | 0.24 | | | 0.23 | | | 0.23 | | | 2.01 | | | 8,674 | | | 29 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.10 | | | 0.18 | • | | 0.71 | | | | 0.89 | | | — | | | — | | | — | | | — | | | — | | | 15.99 | | | 5.89 | | | | 0.55 | | | 0.31 | | | 0.31 | | | 2.34 | | | 14,707 | | | 13 | |
| 12-31-23 | | | 14.10 | | | 0.20 | • | | 1.88 | | | | 2.08 | | | 0.32 | | | 0.76 | | | — | | | 1.08 | | | — | | | 15.10 | | | 15.17 | | | | 0.55 | | | 0.31 | | | 0.31 | | | 1.35 | | | 15,761 | | | 131 | |
| 12-31-22 | | | 18.85 | | | 0.27 | • | | (3.33 | ) | | | (3.06 | ) | | 0.28 | | | 1.41 | | | — | | | 1.69 | | | — | | | 14.10 | | | (16.70 | ) | | | 0.54 | | | 0.45 | | | 0.45 | | | 1.68 | | | 12,262 | | | 52 | |
| 12-31-21 | | | 17.63 | | | 0.23 | • | | 1.90 | | | | 2.13 | | | 0.32 | | | 0.59 | | | — | | | 0.91 | | | — | | | 18.85 | | | 12.18 | | | | 0.56 | | | 0.49 | | | 0.49 | | | 1.24 | | | 20,843 | | | 41 | |
| 12-31-20 | | | 16.24 | | | 0.31 | • | | 1.79 | | | | 2.10 | | | 0.25 | | | 0.46 | | | — | | | 0.71 | | | — | | | 17.63 | | | 13.45 | | | | 0.58 | | | 0.49 | | | 0.49 | | | 1.96 | | | 17,414 | | | 45 | |
| 12-31-19 | | | 14.09 | | | 0.28 | • | | 2.58 | | | | 2.86 | | | 0.23 | | | 0.48 | | | — | | | 0.71 | | | — | | | 16.24 | | | 20.67 | | | | 0.49 | | | 0.48 | | | 0.48 | | | 1.79 | | | 14,570 | | | 29 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.73 | | | 0.17 | • | | 0.69 | | | | 0.86 | | | — | | | — | | | — | | | — | | | — | | | 15.59 | | | 5.84 | | | | 0.70 | | | 0.46 | | | 0.46 | | | 2.30 | | | 22,650 | | | 13 | |
| 12-31-23 | | | 13.78 | | | 0.17 | • | | 1.84 | | | | 2.01 | | | 0.30 | | | 0.76 | | | — | | | 1.06 | | | — | | | 14.73 | | | 15.03 | | | | 0.70 | | | 0.46 | | | 0.46 | | | 1.19 | | | 19,520 | | | 131 | |
| 12-31-22 | | | 18.51 | | | 0.24 | • | | (3.27 | ) | | | (3.03 | ) | | 0.29 | | | 1.41 | | | — | | | 1.70 | | | — | | | 13.78 | | | (16.87 | ) | | | 0.69 | | | 0.60 | | | 0.60 | | | 1.57 | | | 13,090 | | | 52 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2030 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class S2 (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-21 | | | 17.35 | | | 0.20 | • | | 1.87 | | | | 2.07 | | | 0.32 | | | 0.59 | | | — | | | 0.91 | | | — | | | 18.51 | | | 12.01 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 1.12 | | | 14,118 | | | 41 | |
| 12-31-20 | | | 16.02 | | | 0.31 | • | | 1.73 | | | | 2.04 | | | 0.25 | | | 0.46 | | | — | | | 0.71 | | | — | | | 17.35 | | | 13.26 | | | | 0.73 | | | 0.64 | | | 0.64 | | | 1.96 | | | 10,670 | | | 45 | |
| 12-31-19 | | | 13.94 | | | 0.27 | • | | 2.53 | | | | 2.80 | | | 0.24 | | | 0.48 | | | — | | | 0.72 | | | — | | | 16.02 | | | 20.50 | | | | 0.64 | | | 0.63 | | | 0.63 | | | 1.77 | | | 5,688 | | | 29 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.50 | | | 0.22 | • | | 0.73 | | | | 0.95 | | | — | | | — | | | — | | | — | | | — | | | 16.45 | | | 6.13 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.73 | | | 857,927 | | | 13 | |
| 12-31-23 | | | 14.43 | | | 0.25 | • | | 1.93 | | | | 2.18 | | | 0.35 | | | 0.76 | | | — | | | 1.11 | | | — | | | 15.50 | | | 15.52 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.65 | | | 827,463 | | | 131 | |
| 12-31-22 | | | 19.25 | | | 0.35 | • | | (3.40 | ) | | | (3.05 | ) | | 0.36 | | | 1.41 | | | — | | | 1.77 | | | — | | | 14.43 | | | (16.31 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.16 | | | 725,202 | | | 52 | |
| 12-31-21 | | | 17.96 | | | 0.33 | • | | 1.92 | | | | 2.25 | | | 0.37 | | | 0.59 | | | — | | | 0.96 | | | — | | | 19.25 | | | 12.64 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 1.76 | | | 850,871 | | | 41 | |
| 12-31-20 | | | 16.48 | | | 0.40 | • | | 1.83 | | | | 2.23 | | | 0.29 | | | 0.46 | | | — | | | 0.75 | | | — | | | 17.96 | | | 14.06 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.45 | | | 699,789 | | | 45 | |
| 12-31-19 | | | 14.26 | | | 0.36 | • | | 2.60 | | | | 2.96 | | | 0.26 | | | 0.48 | | | — | | | 0.74 | | | — | | | 16.48 | | | 21.20 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.30 | | | 558,381 | | | 29 | |
| Voya Index Solution 2035 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.62 | | | 0.11 | • | | 0.64 | | | | 0.75 | | | — | | | — | | | — | | | — | | | — | | | 11.37 | | | 7.06 | | | | 0.78 | | | 0.55 | | | 0.55 | | | 2.01 | | | 125,881 | | | 12 | |
| 12-31-23 | | | 9.86 | | | 0.07 | • | | 1.53 | | | | 1.60 | | | 0.16 | | | 0.68 | | | — | | | 0.84 | | | — | | | 10.62 | | | 16.70 | | | | 0.78 | | | 0.55 | | | 0.55 | | | 0.70 | | | 128,914 | | | 128 | |
| 12-31-22 | | | 13.59 | | | 0.15 | • | | (2.54 | ) | | | (2.39 | ) | | 0.16 | | | 1.18 | | | — | | | 1.34 | | | — | | | 9.86 | | | (18.14 | ) | | | 0.77 | | | 0.70 | | | 0.70 | | | 1.37 | | | 125,263 | | | 41 | |
| 12-31-21 | | | 12.69 | | | 0.12 | • | | 1.58 | | | | 1.70 | | | 0.19 | | | 0.61 | | | — | | | 0.80 | | | — | | | 13.59 | | | 13.56 | | | | 0.80 | | | 0.74 | | | 0.74 | | | 0.89 | | | 169,629 | | | 38 | |
| 12-31-20 | | | 11.72 | | | 0.18 | • | | 1.37 | | | | 1.55 | | | 0.16 | | | 0.42 | | | — | | | 0.58 | | | — | | | 12.69 | | | 13.85 | | | | 0.80 | | | 0.74 | | | 0.74 | | | 1.58 | | | 172,517 | | | 45 | |
| 12-31-19 | | | 10.14 | | | 0.17 | • | | 2.00 | | | | 2.17 | | | 0.15 | | | 0.44 | | | — | | | 0.59 | | | — | | | 11.72 | | | 21.91 | | | | 0.74 | | | 0.73 | | | 0.73 | | | 1.51 | | | 186,455 | | | 28 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.01 | | | 0.14 | • | | 0.68 | | | | 0.82 | | | — | | | — | | | — | | | — | | | — | | | 11.83 | | | 7.45 | | | | 0.28 | | | 0.05 | | | 0.05 | | | 2.46 | | | 62,656 | | | 12 | |
| 12-31-23 | | | 10.20 | | | 0.13 | • | | 1.58 | | | | 1.71 | | | 0.22 | | | 0.68 | | | — | | | 0.90 | | | — | | | 11.01 | | | 17.26 | | | | 0.28 | | | 0.05 | | | 0.05 | | | 1.20 | | | 64,960 | | | 128 | |
| 12-31-22 | | | 14.03 | | | 0.22 | • | | (2.64 | ) | | | (2.42 | ) | | 0.23 | | | 1.18 | | | — | | | 1.41 | | | — | | | 10.20 | | | (17.76 | ) | | | 0.27 | | | 0.20 | | | 0.20 | | | 1.89 | | | 50,433 | | | 41 | |
| 12-31-21 | | | 13.07 | | | 0.19 | • | | 1.64 | | | | 1.83 | | | 0.26 | | | 0.61 | | | — | | | 0.87 | | | — | | | 14.03 | | | 14.17 | | | | 0.30 | | | 0.24 | | | 0.24 | | | 1.40 | | | 60,969 | | | 38 | |
| 12-31-20 | | | 12.06 | | | 0.23 | • | | 1.43 | | | | 1.66 | | | 0.23 | | | 0.42 | | | — | | | 0.65 | | | — | | | 13.07 | | | 14.41 | | | | 0.30 | | | 0.24 | | | 0.24 | | | 2.01 | | | 54,401 | | | 45 | |
| 12-31-19 | | | 10.42 | | | 0.24 | | | 2.05 | | | | 2.29 | | | 0.21 | | | 0.44 | | | — | | | 0.65 | | | — | | | 12.06 | | | 22.58 | | | | 0.24 | | | 0.23 | | | 0.23 | | | 2.00 | | | 64,433 | | | 28 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.83 | | | 0.12 | • | | 0.67 | | | | 0.79 | | | — | | | — | | | — | | | — | | | — | | | 11.62 | | | 7.29 | | | | 0.53 | | | 0.30 | | | 0.30 | | | 2.20 | | | 92,023 | | | 12 | |
| 12-31-23 | | | 10.05 | | | 0.10 | • | | 1.55 | | | | 1.65 | | | 0.19 | | | 0.68 | | | — | | | 0.87 | | | — | | | 10.83 | | | 16.92 | | | | 0.53 | | | 0.30 | | | 0.30 | | | 0.95 | | | 94,815 | | | 128 | |
| 12-31-22 | | | 13.83 | | | 0.18 | • | | (2.59 | ) | | | (2.41 | ) | | 0.19 | | | 1.18 | | | — | | | 1.37 | | | — | | | 10.05 | | | (17.95 | ) | | | 0.52 | | | 0.45 | | | 0.45 | | | 1.59 | | | 82,072 | | | 41 | |
| 12-31-21 | | | 12.90 | | | 0.16 | • | | 1.61 | | | | 1.77 | | | 0.23 | | | 0.61 | | | — | | | 0.84 | | | — | | | 13.83 | | | 13.87 | | | | 0.55 | | | 0.49 | | | 0.49 | | | 1.16 | | | 114,671 | | | 38 | |
| 12-31-20 | | | 11.91 | | | 0.23 | | | 1.37 | | | | 1.60 | | | 0.19 | | | 0.42 | | | — | | | 0.61 | | | — | | | 12.90 | | | 14.12 | | | | 0.55 | | | 0.49 | | | 0.49 | | | 1.86 | | | 112,188 | | | 45 | |
| 12-31-19 | | | 10.29 | | | 0.21 | | | 2.03 | | | | 2.24 | | | 0.18 | | | 0.44 | | | — | | | 0.62 | | | — | | | 11.91 | | | 22.36 | | | | 0.49 | | | 0.48 | | | 0.48 | | | 1.76 | | | 110,305 | | | 28 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 10.55 | | | 0.12 | • | | 0.64 | | | | 0.76 | | | — | | | — | | | — | | | — | | | — | | | 11.31 | | | 7.20 | | | | 0.68 | | | 0.45 | | | 0.45 | | | 2.14 | | | 53,880 | | | 12 | |
| 12-31-23 | | | 9.81 | | | 0.08 | • | | 1.52 | | | | 1.60 | | | 0.18 | | | 0.68 | | | — | | | 0.86 | | | — | | | 10.55 | | | 16.82 | | | | 0.68 | | | 0.45 | | | 0.45 | | | 0.80 | | | 47,748 | | | 128 | |
| 12-31-22 | | | 13.54 | | | 0.17 | • | | (2.55 | ) | | | (2.38 | ) | | 0.17 | | | 1.18 | | | — | | | 1.35 | | | — | | | 9.81 | | | (18.10 | ) | | | 0.67 | | | 0.60 | | | 0.60 | | | 1.54 | | | 36,931 | | | 41 | |
| 12-31-21 | | | 12.66 | | | 0.13 | • | | 1.58 | | | | 1.71 | | | 0.22 | | | 0.61 | | | — | | | 0.83 | | | — | | | 13.54 | | | 13.65 | | | | 0.70 | | | 0.64 | | | 0.64 | | | 0.96 | | | 40,801 | | | 38 | |
| 12-31-20 | | | 11.71 | | | 0.20 | • | | 1.36 | | | | 1.56 | | | 0.19 | | | 0.42 | | | — | | | 0.61 | | | — | | | 12.66 | | | 13.93 | | | | 0.70 | | | 0.64 | | | 0.64 | | | 1.79 | | | 41,739 | | | 45 | |
| 12-31-19 | | | 10.13 | | | 0.18 | • | | 2.00 | | | | 2.18 | | | 0.16 | | | 0.44 | | | — | | | 0.60 | | | — | | | 11.71 | | | 22.09 | | | | 0.64 | | | 0.63 | | | 0.63 | | | 1.62 | | | 33,877 | | | 28 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.25 | | | 0.15 | • | | 0.68 | | | | 0.83 | | | — | | | — | | | — | | | — | | | — | | | 12.08 | | | 7.38 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.55 | | | 1,242,071 | | | 12 | |
| 12-31-23 | | | 10.41 | | | 0.14 | • | | 1.62 | | | | 1.76 | | | 0.24 | | | 0.68 | | | — | | | 0.92 | | | — | | | 11.25 | | | 17.41 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 1.26 | | | 1,165,093 | | | 128 | |
| 12-31-22 | | | 14.27 | | | 0.25 | • | | (2.69 | ) | | | (2.44 | ) | | 0.24 | | | 1.18 | | | — | | | 1.42 | | | — | | | 10.41 | | | (17.62 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.11 | | | 954,048 | | | 41 | |
| 12-31-21 | | | 13.26 | | | 0.23 | • | | 1.66 | | | | 1.89 | | | 0.27 | | | 0.61 | | | — | | | 0.88 | | | — | | | 14.27 | | | 14.41 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.67 | | | 1,084,762 | | | 38 | |
| 12-31-20 | | | 12.20 | | | 0.28 | • | | 1.43 | | | | 1.71 | | | 0.23 | | | 0.42 | | | — | | | 0.65 | | | — | | | 13.26 | | | 14.66 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.40 | | | 876,349 | | | 45 | |
| 12-31-19 | | | 10.51 | | | 0.27 | • | | 2.07 | | | | 2.34 | | | 0.21 | | | 0.44 | | | — | | | 0.65 | | | — | | | 12.20 | | | 22.88 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.31 | | | 688,542 | | | 28 | |
| Voya Index Solution 2040 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.19 | | | 0.15 | • | | 1.18 | | | | 1.33 | | | — | | | — | | | — | | | — | | | — | | | 17.52 | | | 8.22 | | | | 0.82 | | | 0.59 | | | 0.59 | | | 1.82 | | | 30,243 | | | 11 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2040 Portfolio (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-23 | | | 14.86 | | | 0.04 | • | | 2.60 | | | | 2.64 | | | 0.24 | | | 1.07 | | | — | | | 1.31 | | | — | | | 16.19 | | | 18.24 | | | | 0.81 | | | 0.58 | | | 0.58 | | | 0.25 | | | 28,769 | | | 126 | |
| 12-31-22 | | | 20.52 | | | 0.23 | • | | (3.91 | ) | | | (3.68 | ) | | 0.21 | | | 1.77 | | | — | | | 1.98 | | | — | | | 14.86 | | | (18.48 | ) | | | 0.81 | | | 0.70 | | | 0.70 | | | 1.36 | | | 25,195 | | | 40 | |
| 12-31-21 | | | 18.49 | | | 0.16 | • | | 2.76 | | | | 2.92 | | | 0.25 | | | 0.64 | | | — | | | 0.89 | | | — | | | 20.52 | | | 15.95 | | | | 0.84 | | | 0.74 | | | 0.74 | | | 0.83 | | | 28,989 | | | 35 | |
| 12-31-20 | | | 16.81 | | | 0.27 | | | 2.16 | | | | 2.43 | | | 0.22 | | | 0.53 | | | — | | | 0.75 | | | — | | | 18.49 | | | 15.08 | | | | 0.86 | | | 0.74 | | | 0.74 | | | 1.62 | | | 26,276 | | | 32 | |
| 12-31-19 | | | 14.29 | | | 0.24 | • | | 3.01 | | | | 3.25 | | | 0.19 | | | 0.54 | | | — | | | 0.73 | | | — | | | 16.81 | | | 23.19 | | | | 0.74 | | | 0.73 | | | 0.73 | | | 1.48 | | | 24,422 | | | 23 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.84 | | | 0.20 | • | | 1.22 | | | | 1.42 | | | — | | | — | | | — | | | — | | | — | | | 18.26 | | | 8.43 | | | | 0.32 | | | 0.09 | | | 0.09 | | | 2.30 | | | 15,000 | | | 11 | |
| 12-31-23 | | | 15.40 | | | 0.12 | • | | 2.70 | | | | 2.82 | | | 0.31 | | | 1.07 | | | — | | | 1.38 | | | — | | | 16.84 | | | 18.87 | | | | 0.31 | | | 0.08 | | | 0.08 | | | 0.75 | | | 14,792 | | | 126 | |
| 12-31-22 | | | 21.19 | | | 0.32 | • | | (4.04 | ) | | | (3.72 | ) | | 0.30 | | | 1.77 | | | — | | | 2.07 | | | — | | | 15.40 | | | (18.08 | ) | | | 0.31 | | | 0.20 | | | 0.20 | | | 1.87 | | | 9,800 | | | 40 | |
| 12-31-21 | | | 19.04 | | | 0.28 | • | | 2.85 | | | | 3.13 | | | 0.34 | | | 0.64 | | | — | | | 0.98 | | | — | | | 21.19 | | | 16.58 | | | | 0.34 | | | 0.24 | | | 0.24 | | | 1.35 | | | 9,660 | | | 35 | |
| 12-31-20 | | | 17.28 | | | 0.37 | • | | 2.21 | | | | 2.58 | | | 0.29 | | | 0.53 | | | — | | | 0.82 | | | — | | | 19.04 | | | 15.62 | | | | 0.36 | | | 0.24 | | | 0.24 | | | 2.20 | | | 7,830 | | | 32 | |
| 12-31-19 | | | 14.65 | | | 0.32 | • | | 3.09 | | | | 3.41 | | | 0.24 | | | 0.54 | | | — | | | 0.78 | | | — | | | 17.28 | | | 23.82 | | | | 0.24 | | | 0.23 | | | 0.23 | | | 1.95 | | | 5,832 | | | 23 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.79 | | | 0.17 | • | | 1.23 | | | | 1.40 | | | — | | | — | | | — | | | — | | | — | | | 18.19 | | | 8.34 | | | | 0.57 | | | 0.34 | | | 0.34 | | | 2.01 | | | 15,495 | | | 11 | |
| 12-31-23 | | | 15.36 | | | 0.08 | • | | 2.69 | | | | 2.77 | | | 0.27 | | | 1.07 | | | — | | | 1.34 | | | — | | | 16.79 | | | 18.56 | | | | 0.56 | | | 0.33 | | | 0.33 | | | 0.50 | | | 14,682 | | | 126 | |
| 12-31-22 | | | 21.12 | | | 0.26 | • | | (4.01 | ) | | | (3.75 | ) | | 0.24 | | | 1.77 | | | — | | | 2.01 | | | — | | | 15.36 | | | (18.30 | ) | | | 0.56 | | | 0.45 | | | 0.45 | | | 1.51 | | | 11,600 | | | 40 | |
| 12-31-21 | | | 18.99 | | | 0.23 | • | | 2.84 | | | | 3.07 | | | 0.30 | | | 0.64 | | | — | | | 0.94 | | | — | | | 21.12 | | | 16.30 | | | | 0.59 | | | 0.49 | | | 0.49 | | | 1.12 | | | 16,775 | | | 35 | |
| 12-31-20 | | | 17.24 | | | 0.32 | • | | 2.21 | | | | 2.53 | | | 0.25 | | | 0.53 | | | — | | | 0.78 | | | — | | | 18.99 | | | 15.34 | | | | 0.61 | | | 0.49 | | | 0.49 | | | 1.94 | | | 13,728 | | | 32 | |
| 12-31-19 | | | 14.62 | | | 0.28 | • | | 3.09 | | | | 3.37 | | | 0.21 | | | 0.54 | | | — | | | 0.75 | | | — | | | 17.24 | | | 23.53 | | | | 0.49 | | | 0.48 | | | 0.48 | | | 1.71 | | | 11,372 | | | 23 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.41 | | | 0.16 | • | | 1.19 | | | | 1.35 | | | — | | | — | | | — | | | — | | | — | | | 17.76 | | | 8.23 | | | | 0.72 | | | 0.49 | | | 0.49 | | | 1.93 | | | 6,393 | | | 11 | |
| 12-31-23 | | | 15.04 | | | 0.05 | • | | 2.65 | | | | 2.70 | | | 0.26 | | | 1.07 | | | — | | | 1.33 | | | — | | | 16.41 | | | 18.47 | | | | 0.71 | | | 0.48 | | | 0.48 | | | 0.35 | | | 5,657 | | | 126 | |
| 12-31-22 | | | 20.73 | | | 0.25 | • | | (3.96 | ) | | | (3.71 | ) | | 0.21 | | | 1.77 | | | — | | | 1.98 | | | — | | | 15.04 | | | (18.43 | ) | | | 0.71 | | | 0.60 | | | 0.60 | | | 1.49 | | | 4,152 | | | 40 | |
| 12-31-21 | | | 18.68 | | | 0.18 | • | | 2.80 | | | | 2.98 | | | 0.29 | | | 0.64 | | | — | | | 0.93 | | | — | | | 20.73 | | | 16.09 | | | | 0.74 | | | 0.64 | | | 0.64 | | | 0.89 | | | 4,354 | | | 35 | |
| 12-31-20 | | | 16.98 | | | 0.31 | • | | 2.16 | | | | 2.47 | | | 0.24 | | | 0.53 | | | — | | | 0.77 | | | — | | | 18.68 | | | 15.17 | | | | 0.76 | | | 0.64 | | | 0.64 | | | 1.89 | | | 4,557 | | | 32 | |
| 12-31-19 | | | 14.42 | | | 0.24 | • | | 3.06 | | | | 3.30 | | | 0.20 | | | 0.54 | | | — | | | 0.74 | | | — | | | 16.98 | | | 23.36 | | | | 0.64 | | | 0.63 | | | 0.63 | | | 1.51 | | | 2,896 | | | 23 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.13 | | | 0.21 | • | | 1.25 | | | | 1.46 | | | — | | | — | | | — | | | — | | | — | | | 18.59 | | | 8.52 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.38 | | | 919,471 | | | 11 | |
| 12-31-23 | | | 15.66 | | | 0.14 | • | | 2.75 | | | | 2.89 | | | 0.35 | | | 1.07 | | | — | | | 1.42 | | | — | | | 17.13 | | | 18.96 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 0.82 | | | 857,824 | | | 126 | |
| 12-31-22 | | | 21.49 | | | 0.36 | • | | (4.10 | ) | | | (3.74 | ) | | 0.32 | | | 1.77 | | | — | | | 2.09 | | | — | | | 15.66 | | | (17.93 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.06 | | | 679,923 | | | 40 | |
| 12-31-21 | | | 19.27 | | | 0.33 | • | | 2.89 | | | | 3.22 | | | 0.36 | | | 0.64 | | | — | | | 1.00 | | | — | | | 21.49 | | | 16.86 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.60 | | | 760,148 | | | 35 | |
| 12-31-20 | | | 17.43 | | | 0.41 | • | | 2.25 | | | | 2.66 | | | 0.29 | | | 0.53 | | | — | | | 0.82 | | | — | | | 19.27 | | | 15.96 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.41 | | | 577,969 | | | 32 | |
| 12-31-19 | | | 14.74 | | | 0.37 | • | | 3.10 | | | | 3.47 | | | 0.24 | | | 0.54 | | | — | | | 0.78 | | | — | | | 17.43 | | | 24.08 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.25 | | | 426,037 | | | 23 | |
| Voya Index Solution 2045 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.36 | | | 0.10 | • | | 0.93 | | | | 1.03 | | | — | | | — | | | — | | | — | | | — | | | 12.39 | | | 9.07 | | | | 0.80 | | | 0.57 | | | 0.57 | | | 1.71 | | | 107,994 | | | 11 | |
| 12-31-23 | | | 10.46 | | | (0.00 | )*• | | 1.95 | | | | 1.95 | | | 0.16 | | | 0.89 | | | — | | | 1.05 | | | — | | | 11.36 | | | 19.21 | | | | 0.80 | | | 0.57 | | | 0.57 | | | (0.01 | ) | | 102,369 | | | 127 | |
| 12-31-22 | | | 14.77 | | | 0.15 | • | | (2.81 | ) | | | (2.66 | ) | | 0.13 | | | 1.52 | | | — | | | 1.65 | | | — | | | 10.46 | | | (18.60 | ) | | | 0.79 | | | 0.70 | | | 0.70 | | | 1.26 | | | 93,516 | | | 39 | |
| 12-31-21 | | | 13.31 | | | 0.11 | • | | 2.16 | | | | 2.27 | | | 0.19 | | | 0.62 | | | — | | | 0.81 | | | — | | | 14.77 | | | 17.25 | | | | 0.81 | | | 0.74 | | | 0.74 | | | 0.73 | | | 132,543 | | | 38 | |
| 12-31-20 | | | 12.17 | | | 0.18 | • | | 1.58 | | | | 1.76 | | | 0.15 | | | 0.47 | | | — | | | 0.62 | | | — | | | 13.31 | | | 15.23 | | | | 0.81 | | | 0.74 | | | 0.74 | | | 1.54 | | | 129,548 | | | 34 | |
| 12-31-19 | | | 10.38 | | | 0.16 | • | | 2.29 | | | | 2.45 | | | 0.14 | | | 0.52 | | | — | | | 0.66 | | | — | | | 12.17 | | | 24.29 | | | | 0.73 | | | 0.73 | | | 0.73 | | | 1.39 | | | 134,331 | | | 24 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.92 | | | 0.13 | • | | 0.98 | | | | 1.11 | | | — | | | — | | | — | | | — | | | — | | | 13.03 | | | 9.31 | | | | 0.30 | | | 0.07 | | | 0.07 | | | 2.15 | | | 55,987 | | | 11 | |
| 12-31-23 | | | 10.93 | | | 0.06 | • | | 2.04 | | | | 2.10 | | | 0.22 | | | 0.89 | | | — | | | 1.11 | | | — | | | 11.92 | | | 19.83 | | | | 0.30 | | | 0.07 | | | 0.07 | | | 0.49 | | | 60,301 | | | 127 | |
| 12-31-22 | | | 15.37 | | | 0.23 | • | | (2.94 | ) | | | (2.71 | ) | | 0.21 | | | 1.52 | | | — | | | 1.73 | | | — | | | 10.93 | | | (18.19 | ) | | | 0.29 | | | 0.20 | | | 0.20 | | | 1.81 | | | 47,575 | | | 39 | |
| 12-31-21 | | | 13.81 | | | 0.19 | • | | 2.24 | | | | 2.43 | | | 0.25 | | | 0.62 | | | — | | | 0.87 | | | — | | | 15.37 | | | 17.86 | | | | 0.31 | | | 0.24 | | | 0.24 | | | 1.25 | | | 54,110 | | | 38 | |
| 12-31-20 | | | 12.61 | | | 0.23 | • | | 1.66 | | | | 1.89 | | | 0.22 | | | 0.47 | | | — | | | 0.69 | | | — | | | 13.81 | | | 15.78 | | | | 0.31 | | | 0.24 | | | 0.24 | | | 1.92 | | | 46,883 | | | 34 | |
| 12-31-19 | | | 10.74 | | | 0.22 | | | 2.38 | | | | 2.60 | | | 0.21 | | | 0.52 | | | — | | | 0.73 | | | — | | | 12.61 | | | 24.89 | | | | 0.23 | | | 0.23 | | | 0.23 | | | 1.89 | | | 53,784 | | | 24 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2045 Portfolio (continued) |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.67 | | | 0.12 | • | | 0.95 | | | | 1.07 | | | — | | | — | | | — | | | — | | | — | | | 12.74 | | | 9.17 | | | | 0.55 | | | 0.32 | | | 0.32 | | | 1.90 | | | 65,536 | | | 11 | |
| 12-31-23 | | | 10.72 | | | 0.03 | • | | 2.00 | | | | 2.03 | | | 0.19 | | | 0.89 | | | — | | | 1.08 | | | — | | | 11.67 | | | 19.54 | | | | 0.55 | | | 0.32 | | | 0.32 | | | 0.24 | | | 64,053 | | | 127 | |
| 12-31-22 | | | 15.09 | | | 0.18 | • | | (2.87 | ) | | | (2.69 | ) | | 0.16 | | | 1.52 | | | — | | | 1.68 | | | — | | | 10.72 | | | (18.40 | ) | | | 0.54 | | | 0.45 | | | 0.45 | | | 1.46 | | | 54,086 | | | 39 | |
| 12-31-21 | | | 13.58 | | | 0.15 | • | | 2.20 | | | | 2.35 | | | 0.22 | | | 0.62 | | | — | | | 0.84 | | | — | | | 15.09 | | | 17.56 | | | | 0.56 | | | 0.49 | | | 0.49 | | | 1.02 | | | 84,023 | | | 38 | |
| 12-31-20 | | | 12.41 | | | 0.23 | | | 1.60 | | | | 1.83 | | | 0.19 | | | 0.47 | | | — | | | 0.66 | | | — | | | 13.58 | | | 15.49 | | | | 0.56 | | | 0.49 | | | 0.49 | | | 1.80 | | | 77,113 | | | 34 | |
| 12-31-19 | | | 10.58 | | | 0.20 | | | 2.33 | | | | 2.53 | | | 0.18 | | | 0.52 | | | — | | | 0.70 | | | — | | | 12.41 | | | 24.55 | | | | 0.48 | | | 0.48 | | | 0.48 | | | 1.64 | | | 74,022 | | | 24 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.32 | | | 0.11 | • | | 0.92 | | | | 1.03 | | | — | | | — | | | — | | | — | | | — | | | 12.35 | | | 9.10 | | | | 0.70 | | | 0.47 | | | 0.47 | | | 1.82 | | | 43,649 | | | 11 | |
| 12-31-23 | | | 10.44 | | | 0.01 | • | | 1.94 | | | | 1.95 | | | 0.18 | | | 0.89 | | | — | | | 1.07 | | | — | | | 11.32 | | | 19.29 | | | | 0.70 | | | 0.47 | | | 0.47 | | | 0.09 | | | 37,431 | | | 127 | |
| 12-31-22 | | | 14.76 | | | 0.17 | • | | (2.81 | ) | | | (2.64 | ) | | 0.16 | | | 1.52 | | | — | | | 1.68 | | | — | | | 10.44 | | | (18.49 | ) | | | 0.69 | | | 0.60 | | | 0.60 | | | 1.45 | | | 28,510 | | | 39 | |
| 12-31-21 | | | 13.32 | | | 0.12 | • | | 2.15 | | | | 2.27 | | | 0.21 | | | 0.62 | | | — | | | 0.83 | | | — | | | 14.76 | | | 17.28 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 0.85 | | | 29,628 | | | 38 | |
| 12-31-20 | | | 12.19 | | | 0.20 | • | | 1.58 | | | | 1.78 | | | 0.18 | | | 0.47 | | | — | | | 0.65 | | | — | | | 13.32 | | | 15.35 | | | | 0.71 | | | 0.64 | | | 0.64 | | | 1.72 | | | 25,318 | | | 34 | |
| 12-31-19 | | | 10.41 | | | 0.16 | | | 2.30 | | | | 2.46 | | | 0.16 | | | 0.52 | | | — | | | 0.68 | | | — | | | 12.19 | | | 24.34 | | | | 0.63 | | | 0.63 | | | 0.63 | | | 1.50 | | | 20,384 | | | 24 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 12.16 | | | 0.14 | • | | 1.00 | | | | 1.14 | | | — | | | — | | | — | | | — | | | — | | | 13.30 | | | 9.38 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.27 | | | 1,016,122 | | | 11 | |
| 12-31-23 | | | 11.14 | | | 0.07 | • | | 2.08 | | | | 2.15 | | | 0.24 | | | 0.89 | | | — | | | 1.13 | | | — | | | 12.16 | | | 19.93 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 0.56 | | | 928,971 | | | 127 | |
| 12-31-22 | | | 15.62 | | | 0.25 | • | | (2.99 | ) | | | (2.74 | ) | | 0.22 | | | 1.52 | | | — | | | 1.74 | | | — | | | 11.14 | | | (18.10 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.01 | | | 733,611 | | | 39 | |
| 12-31-21 | | | 14.00 | | | 0.23 | • | | 2.27 | | | | 2.50 | | | 0.26 | | | 0.62 | | | — | | | 0.88 | | | — | | | 15.62 | | | 18.14 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.52 | | | 827,504 | | | 38 | |
| 12-31-20 | | | 12.74 | | | 0.29 | • | | 1.66 | | | | 1.95 | | | 0.22 | | | 0.47 | | | — | | | 0.69 | | | — | | | 14.00 | | | 16.09 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.36 | | | 650,098 | | | 34 | |
| 12-31-19 | | | 10.82 | | | 0.27 | • | | 2.38 | | | | 2.65 | | | 0.21 | | | 0.52 | | | — | | | 0.73 | | | — | | | 12.74 | | | 25.17 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.21 | | | 464,683 | | | 24 | |
| Voya Index Solution 2050 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.96 | | | 0.14 | • | | 1.44 | | | | 1.58 | | | — | | | — | | | — | | | — | | | — | | | 18.54 | | | 9.32 | | | | 0.82 | | | 0.60 | | | 0.60 | | | 1.58 | | | 23,300 | | | 10 | |
| 12-31-23 | | | 15.39 | | | (0.04 | )• | | 2.99 | | | | 2.95 | | | 0.21 | | | 1.17 | | | — | | | 1.38 | | | — | | | 16.96 | | | 19.68 | | | | 0.84 | | | 0.62 | | | 0.62 | | | (0.22 | ) | | 21,757 | | | 122 | |
| 12-31-22 | | | 21.29 | | | 0.22 | • | | (4.10 | ) | | | (3.88 | ) | | 0.16 | | | 1.86 | | | — | | | 2.02 | | | — | | | 15.39 | | | (18.70 | ) | | | 0.85 | | | 0.72 | | | 0.72 | | | 1.25 | | | 17,963 | | | 34 | |
| 12-31-21 | | | 18.85 | | | 0.15 | • | | 3.06 | | | | 3.21 | | | 0.23 | | | 0.54 | | | — | | | 0.77 | | | — | | | 21.29 | | | 17.22 | | | | 0.87 | | | 0.74 | | | 0.74 | | | 0.72 | | | 23,791 | | | 38 | |
| 12-31-20 | | | 17.18 | | | 0.25 | • | | 2.15 | | | | 2.40 | | | 0.20 | | | 0.53 | | | — | | | 0.73 | | | — | | | 18.85 | | | 14.66 | | | | 0.91 | | | 0.74 | | | 0.74 | | | 1.53 | | | 19,574 | | | 29 | |
| 12-31-19 | | | 14.39 | | | 0.24 | • | | 3.24 | | | | 3.48 | | | 0.17 | | | 0.52 | | | — | | | 0.69 | | | — | | | 17.18 | | | 24.60 | | | | 0.74 | | | 0.74 | | | 0.74 | | | 1.47 | | | 17,450 | | | 22 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.52 | | | 0.19 | • | | 1.49 | | | | 1.68 | | | — | | | — | | | — | | | — | | | — | | | 19.20 | | | 9.59 | | | | 0.32 | | | 0.10 | | | 0.10 | | | 2.12 | | | 21,368 | | | 10 | |
| 12-31-23 | | | 15.86 | | | 0.05 | • | | 3.08 | | | | 3.13 | | | 0.30 | | | 1.17 | | | — | | | 1.47 | | | — | | | 17.52 | | | 20.23 | | | | 0.34 | | | 0.12 | | | 0.12 | | | 0.28 | | | 18,482 | | | 122 | |
| 12-31-22 | | | 21.88 | | | 0.32 | • | | (4.22 | ) | | | (3.90 | ) | | 0.26 | | | 1.86 | | | — | | | 2.12 | | | — | | | 15.86 | | | (18.29 | ) | | | 0.35 | | | 0.22 | | | 0.22 | | | 1.80 | | | 11,849 | | | 34 | |
| 12-31-21 | | | 19.33 | | | 0.26 | • | | 3.15 | | | | 3.41 | | | 0.32 | | | 0.54 | | | — | | | 0.86 | | | — | | | 21.88 | | | 17.81 | | | | 0.37 | | | 0.24 | | | 0.24 | | | 1.23 | | | 11,548 | | | 38 | |
| 12-31-20 | | | 17.58 | | | 0.35 | • | | 2.20 | | | | 2.55 | | | 0.27 | | | 0.53 | | | — | | | 0.80 | | | — | | | 19.33 | | | 15.25 | | | | 0.41 | | | 0.24 | | | 0.24 | | | 2.07 | | | 8,770 | | | 29 | |
| 12-31-19 | | | 14.69 | | | 0.32 | • | | 3.31 | | | | 3.63 | | | 0.22 | | | 0.52 | | | — | | | 0.74 | | | — | | | 17.58 | | | 25.21 | | | | 0.24 | | | 0.24 | | | 0.24 | | | 1.97 | | | 6,367 | | | 22 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.46 | | | 0.16 | • | | 1.49 | | | | 1.65 | | | — | | | — | | | — | | | — | | | — | | | 19.11 | | | 9.45 | | | | 0.57 | | | 0.35 | | | 0.35 | | | 1.71 | | | 12,703 | | | 10 | |
| 12-31-23 | | | 15.81 | | | 0.00 | *• | | 3.07 | | | | 3.07 | | | 0.25 | | | 1.17 | | | — | | | 1.42 | | | — | | | 17.46 | | | 19.94 | | | | 0.59 | | | 0.37 | | | 0.37 | | | 0.03 | | | 12,363 | | | 122 | |
| 12-31-22 | | | 21.78 | | | 0.25 | • | | (4.18 | ) | | | (3.93 | ) | | 0.18 | | | 1.86 | | | — | | | 2.04 | | | — | | | 15.81 | | | (18.52 | ) | | | 0.60 | | | 0.47 | | | 0.47 | | | 1.40 | | | 9,814 | | | 34 | |
| 12-31-21 | | | 19.26 | | | 0.20 | • | | 3.14 | | | | 3.34 | | | 0.28 | | | 0.54 | | | — | | | 0.82 | | | — | | | 21.78 | | | 17.50 | | | | 0.62 | | | 0.49 | | | 0.49 | | | 0.96 | | | 15,698 | | | 38 | |
| 12-31-20 | | | 17.53 | | | 0.30 | • | | 2.20 | | | | 2.50 | | | 0.24 | | | 0.53 | | | — | | | 0.77 | | | — | | | 19.26 | | | 14.94 | | | | 0.66 | | | 0.49 | | | 0.49 | | | 1.80 | | | 12,575 | | | 29 | |
| 12-31-19 | | | 14.65 | | | 0.28 | • | | 3.31 | | | | 3.59 | | | 0.19 | | | 0.52 | | | — | | | 0.71 | | | — | | | 17.53 | | | 24.94 | | | | 0.49 | | | 0.49 | | | 0.49 | | | 1.70 | | | 10,885 | | | 22 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.06 | | | 0.15 | • | | 1.45 | | | | 1.60 | | | — | | | — | | | — | | | — | | | — | | | 18.66 | | | 9.38 | | | | 0.72 | | | 0.50 | | | 0.50 | | | 1.70 | | | 5,933 | | | 10 | |
| 12-31-23 | | | 15.48 | | | (0.02 | )• | | 3.01 | | | | 2.99 | | | 0.24 | | | 1.17 | | | — | | | 1.41 | | | — | | | 17.06 | | | 19.78 | | | | 0.74 | | | 0.52 | | | 0.52 | | | (0.12 | ) | | 4,841 | | | 122 | |
| 12-31-22 | | | 21.41 | | | 0.25 | • | | (4.13 | ) | | | (3.88 | ) | | 0.19 | | | 1.86 | | | — | | | 2.05 | | | — | | | 15.48 | | | (18.62 | ) | | | 0.75 | | | 0.62 | | | 0.62 | | | 1.44 | | | 4,018 | | | 34 | |
| 12-31-21 | | | 18.95 | | | 0.19 | • | | 3.06 | | | | 3.25 | | | 0.25 | | | 0.54 | | | — | | | 0.79 | | | — | | | 21.41 | | | 17.33 | | | | 0.77 | | | 0.64 | | | 0.64 | | | 0.93 | | | 3,918 | | | 38 | |
| 12-31-20 | | | 17.26 | | | 0.29 | • | | 2.14 | | | | 2.43 | | | 0.21 | | | 0.53 | | | — | | | 0.74 | | | — | | | 18.95 | | | 14.77 | | | | 0.81 | | | 0.64 | | | 0.64 | | | 1.77 | | | 3,563 | | | 29 | |
| 12-31-19 | | | 14.45 | | | 0.25 | • | | 3.25 | | | | 3.50 | | | 0.17 | | | 0.52 | | | — | | | 0.69 | | | — | | | 17.26 | | | 24.69 | | | | 0.64 | | | 0.64 | | | 0.64 | | | 1.53 | | | 3,072 | | | 22 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2050 Portfolio (continued) |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 17.80 | | | 0.20 | • | | 1.52 | | | | 1.72 | | | — | | | — | | | — | | | — | | | — | | | 19.52 | | | 9.66 | | | | 0.22 | | | 0.00 | * | | 0.00 | * | | 2.14 | | | 762,922 | | | 10 | |
| 12-31-23 | | | 16.10 | | | 0.07 | • | | 3.13 | | | | 3.20 | | | 0.33 | | | 1.17 | | | — | | | 1.50 | | | — | | | 17.80 | | | 20.38 | | | | 0.22 | | | 0.00 | * | | 0.00 | * | | 0.40 | | | 689,274 | | | 122 | |
| 12-31-22 | | | 22.16 | | | 0.36 | • | | (4.27 | ) | | | (3.91 | ) | | 0.29 | | | 1.86 | | | — | | | 2.15 | | | — | | | 16.10 | | | (18.14 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.01 | | | 512,919 | | | 34 | |
| 12-31-21 | | | 19.54 | | | 0.32 | • | | 3.18 | | | | 3.50 | | | 0.34 | | | 0.54 | | | — | | | 0.88 | | | — | | | 22.16 | | | 18.12 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.48 | | | 539,936 | | | 38 | |
| 12-31-20 | | | 17.73 | | | 0.40 | • | | 2.21 | | | | 2.61 | | | 0.27 | | | 0.53 | | | — | | | 0.80 | | | — | | | 19.54 | | | 15.46 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.32 | | | 398,859 | | | 29 | |
| 12-31-19 | | | 14.77 | | | 0.37 | • | | 3.33 | | | | 3.70 | | | 0.22 | | | 0.52 | | | — | | | 0.74 | | | — | | | 17.73 | | | 25.56 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.23 | | | 286,945 | | | 22 | |
| Voya Index Solution 2055 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.54 | | | 0.12 | • | | 1.34 | | | | 1.46 | | | — | | | — | | | — | | | — | | | — | | | 17.00 | | | 9.40 | | | | 0.82 | | | 0.60 | | | 0.60 | | | 1.54 | | | 55,848 | | | 10 | |
| 12-31-23 | | | 14.08 | | | (0.04 | )• | | 2.74 | | | | 2.70 | | | 0.22 | | | 1.02 | | | — | | | 1.24 | | | — | | | 15.54 | | | 19.66 | | | | 0.85 | | | 0.62 | | | 0.62 | | | (0.26 | ) | | 53,819 | | | 120 | |
| 12-31-22 | | | 19.61 | | | 0.20 | • | | (3.77 | ) | | | (3.57 | ) | | 0.14 | | | 1.82 | | | — | | | 1.96 | | | — | | | 14.08 | | | (18.76 | ) | | | 0.84 | | | 0.72 | | | 0.72 | | | 1.22 | | | 45,187 | | | 34 | |
| 12-31-21 | | | 17.47 | | | 0.13 | • | | 2.87 | | | | 3.00 | | | 0.21 | | | 0.65 | | | — | | | 0.86 | | | — | | | 19.61 | | | 17.32 | | | | 0.85 | | | 0.74 | | | 0.74 | | | 0.69 | | | 63,321 | | | 38 | |
| 12-31-20 | | | 15.91 | | | 0.24 | | | 2.03 | | | | 2.27 | | | 0.18 | | | 0.53 | | | — | | | 0.71 | | | — | | | 17.47 | | | 14.90 | | | | 0.89 | | | 0.74 | | | 0.74 | | | 1.49 | | | 58,091 | | | 29 | |
| 12-31-19 | | | 13.42 | | | 0.22 | | | 3.00 | | | | 3.22 | | | 0.15 | | | 0.58 | | | — | | | 0.73 | | | — | | | 15.91 | | | 24.52 | | | | 0.74 | | | 0.74 | | | 0.74 | | | 1.40 | | | 54,378 | | | 20 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.09 | | | 0.17 | • | | 1.38 | | | | 1.55 | | | — | | | — | | | — | | | — | | | — | | | 17.64 | | | 9.63 | | | | 0.32 | | | 0.10 | | | 0.10 | | | 2.02 | | | 54,787 | | | 10 | |
| 12-31-23 | | | 14.53 | | | 0.04 | • | | 2.84 | | | | 2.88 | | | 0.30 | | | 1.02 | | | — | | | 1.32 | | | — | | | 16.09 | | | 20.33 | | | | 0.35 | | | 0.12 | | | 0.12 | | | 0.24 | | | 52,451 | | | 120 | |
| 12-31-22 | | | 20.20 | | | 0.29 | • | | (3.90 | ) | | | (3.61 | ) | | 0.24 | | | 1.82 | | | — | | | 2.06 | | | — | | | 14.53 | | | (18.38 | ) | | | 0.34 | | | 0.22 | | | 0.22 | | | 1.78 | | | 37,659 | | | 34 | |
| 12-31-21 | | | 17.95 | | | 0.24 | • | | 2.95 | | | | 3.19 | | | 0.29 | | | 0.65 | | | — | | | 0.94 | | | — | | | 20.20 | | | 17.95 | | | | 0.35 | | | 0.24 | | | 0.24 | | | 1.22 | | | 42,496 | | | 38 | |
| 12-31-20 | | | 16.33 | | | 0.31 | • | | 2.09 | | | | 2.40 | | | 0.25 | | | 0.53 | | | — | | | 0.78 | | | — | | | 17.95 | | | 15.43 | | | | 0.39 | | | 0.24 | | | 0.24 | | | 1.95 | | | 35,009 | | | 29 | |
| 12-31-19 | | | 13.75 | | | 0.30 | • | | 3.09 | | | | 3.39 | | | 0.23 | | | 0.58 | | | — | | | 0.81 | | | — | | | 16.33 | | | 25.22 | | | | 0.24 | | | 0.24 | | | 0.24 | | | 1.95 | | | 31,202 | | | 20 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.83 | | | 0.14 | • | | 1.37 | | | | 1.51 | | | — | | | — | | | — | | | — | | | — | | | 17.34 | | | 9.54 | | | | 0.57 | | | 0.35 | | | 0.35 | | | 1.73 | | | 41,851 | | | 10 | |
| 12-31-23 | | | 14.32 | | | (0.00 | )*• | | 2.79 | | | | 2.79 | | | 0.26 | | | 1.02 | | | — | | | 1.28 | | | — | | | 15.83 | | | 20.00 | | | | 0.60 | | | 0.37 | | | 0.37 | | | (0.01 | ) | | 38,902 | | | 120 | |
| 12-31-22 | | | 19.90 | | | 0.23 | • | | (3.82 | ) | | | (3.59 | ) | | 0.17 | | | 1.82 | | | — | | | 1.99 | | | — | | | 14.32 | | | (18.56 | ) | | | 0.59 | | | 0.47 | | | 0.47 | | | 1.43 | | | 29,007 | | | 34 | |
| 12-31-21 | | | 17.71 | | | 0.18 | • | | 2.91 | | | | 3.09 | | | 0.25 | | | 0.65 | | | — | | | 0.90 | | | — | | | 19.90 | | | 17.64 | | | | 0.60 | | | 0.49 | | | 0.49 | | | 0.93 | | | 43,919 | | | 38 | |
| 12-31-20 | | | 16.13 | | | 0.27 | • | | 2.06 | | | | 2.33 | | | 0.22 | | | 0.53 | | | — | | | 0.75 | | | — | | | 17.71 | | | 15.11 | | | | 0.64 | | | 0.49 | | | 0.49 | | | 1.76 | | | 40,587 | | | 29 | |
| 12-31-19 | | | 13.59 | | | 0.25 | • | | 3.06 | | | | 3.31 | | | 0.19 | | | 0.58 | | | — | | | 0.77 | | | — | | | 16.13 | | | 24.94 | | | | 0.49 | | | 0.49 | | | 0.49 | | | 1.66 | | | 35,423 | | | 20 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 15.57 | | | 0.13 | • | | 1.34 | | | | 1.47 | | | — | | | — | | | — | | | — | | | — | | | 17.04 | | | 9.44 | | | | 0.72 | | | 0.50 | | | 0.50 | | | 1.65 | | | 33,054 | | | 10 | |
| 12-31-23 | | | 14.11 | | | (0.02 | )• | | 2.75 | | | | 2.73 | | | 0.25 | | | 1.02 | | | — | | | 1.27 | | | — | | | 15.57 | | | 19.84 | | | | 0.75 | | | 0.52 | | | 0.52 | | | (0.16 | ) | | 27,217 | | | 120 | |
| 12-31-22 | | | 19.67 | | | 0.23 | • | | (3.80 | ) | | | (3.57 | ) | | 0.17 | | | 1.82 | | | — | | | 1.99 | | | — | | | 14.11 | | | (18.69 | ) | | | 0.74 | | | 0.62 | | | 0.62 | | | 1.41 | | | 19,070 | | | 34 | |
| 12-31-21 | | | 17.54 | | | 0.15 | • | | 2.88 | | | | 3.03 | | | 0.25 | | | 0.65 | | | — | | | 0.90 | | | — | | | 19.67 | | | 17.43 | | | | 0.75 | | | 0.64 | | | 0.64 | | | 0.78 | | | 20,878 | | | 38 | |
| 12-31-20 | | | 15.99 | | | 0.27 | • | | 2.01 | | | | 2.28 | | | 0.20 | | | 0.53 | | | — | | | 0.73 | | | — | | | 17.54 | | | 14.97 | | | | 0.79 | | | 0.64 | | | 0.64 | | | 1.73 | | | 17,208 | | | 29 | |
| 12-31-19 | | | 13.49 | | | 0.23 | • | | 3.03 | | | | 3.26 | | | 0.18 | | | 0.58 | | | — | | | 0.76 | | | — | | | 15.99 | | | 24.68 | | | | 0.64 | | | 0.64 | | | 0.64 | | | 1.53 | | | 11,439 | | | 20 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 16.40 | | | 0.18 | • | | 1.42 | | | | 1.60 | | | — | | | — | | | — | | | — | | | — | | | 18.00 | | | 9.76 | | | | 0.22 | | | 0.00 | * | | 0.00 | * | | 2.10 | | | 661,286 | | | 10 | |
| 12-31-23 | | | 14.80 | | | 0.06 | • | | 2.89 | | | | 2.95 | | | 0.33 | | | 1.02 | | | — | | | 1.35 | | | — | | | 16.40 | | | 20.44 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 0.36 | | | 594,985 | | | 120 | |
| 12-31-22 | | | 20.51 | | | 0.33 | • | | (3.96 | ) | | | (3.63 | ) | | 0.26 | | | 1.82 | | | — | | | 2.08 | | | — | | | 14.80 | | | (18.20 | ) | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.00 | | | 439,069 | | | 34 | |
| 12-31-21 | | | 18.20 | | | 0.29 | • | | 2.99 | | | | 3.28 | | | 0.32 | | | 0.65 | | | — | | | 0.97 | | | — | | | 20.51 | | | 18.19 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.49 | | | 450,163 | | | 38 | |
| 12-31-20 | | | 16.51 | | | 0.37 | • | | 2.10 | | | | 2.47 | | | 0.25 | | | 0.53 | | | — | | | 0.78 | | | — | | | 18.20 | | | 15.69 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.32 | | | 324,254 | | | 29 | |
| 12-31-19 | | | 13.86 | | | 0.35 | • | | 3.11 | | | | 3.46 | | | 0.23 | | | 0.58 | | | — | | | 0.81 | | | — | | | 16.51 | | | 25.54 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.23 | | | 217,585 | | | 20 | |
| Voya Index Solution 2060 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.68 | | | 0.11 | • | | 1.18 | | | | 1.29 | | | — | | | — | | | — | | | — | | | — | | | 14.97 | | | 9.43 | | | | 0.80 | | | 0.58 | | | 0.58 | | | 1.57 | | | 18,051 | | | 9 | |
| 12-31-23 | | | 12.27 | | | (0.04 | )• | | 2.40 | | | | 2.36 | | | 0.15 | | | 0.80 | | | — | | | 0.95 | | | — | | | 13.68 | | | 19.67 | | | | 0.85 | | | 0.62 | | | 0.62 | | | (0.27 | ) | | 16,902 | | | 117 | |
| 12-31-22 | | | 16.89 | | | 0.17 | • | | (3.27 | ) | | | (3.10 | ) | | 0.11 | | | 1.41 | | | — | | | 1.52 | | | — | | | 12.27 | | | (18.84 | ) | | | 0.88 | | | 0.72 | | | 0.72 | | | 1.25 | | | 12,814 | | | 34 | |
| 12-31-21 | | | 14.80 | | | 0.12 | • | | 2.47 | | | | 2.59 | | | 0.13 | | | 0.37 | | | — | | | 0.50 | | | — | | | 16.89 | | | 17.65 | | | | 0.91 | | | 0.74 | | | 0.74 | | | 0.72 | | | 15,085 | | | 37 | |
| 12-31-20 | | | 13.31 | | | 0.18 | • | | 1.76 | | | | 1.94 | | | 0.12 | | | 0.33 | | | — | | | 0.45 | | | — | | | 14.80 | | | 15.11 | | | | 0.92 | | | 0.74 | | | 0.74 | | | 1.42 | | | 11,253 | | | 34 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2060 Portfolio (continued) |
| Class ADV (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 12-31-19 | | | 11.02 | | | 0.18 | • | | 2.50 | | | | 2.68 | | | 0.09 | | | 0.30 | | | — | | | 0.39 | | | — | | | 13.31 | | | 24.62 | | | | 0.77 | | | 0.74 | | | 0.74 | | | 1.45 | | | 9,576 | | | 36 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.05 | | | 0.15 | • | | 1.21 | | | | 1.36 | | | — | | | — | | | — | | | — | | | — | | | 15.41 | | | 9.68 | | | | 0.30 | | | 0.08 | | | 0.08 | | | 2.06 | | | 37,776 | | | 9 | |
| 12-31-23 | | | 12.56 | | | 0.03 | • | | 2.47 | | | | 2.50 | | | 0.21 | | | 0.80 | | | — | | | 1.01 | | | — | | | 14.05 | | | 20.37 | | | | 0.35 | | | 0.12 | | | 0.12 | | | 0.23 | | | 31,714 | | | 117 | |
| 12-31-22 | | | 17.25 | | | 0.25 | • | | (3.35 | ) | | | (3.10 | ) | | 0.18 | | | 1.41 | | | — | | | 1.59 | | | — | | | 12.56 | | | (18.44 | ) | | | 0.38 | | | 0.22 | | | 0.22 | | | 1.80 | | | 20,763 | | | 34 | |
| 12-31-21 | | | 15.10 | | | 0.21 | • | | 2.51 | | | | 2.72 | | | 0.20 | | | 0.37 | | | — | | | 0.57 | | | — | | | 17.25 | | | 18.18 | | | | 0.41 | | | 0.24 | | | 0.24 | | | 1.26 | | | 20,267 | | | 37 | |
| 12-31-20 | | | 13.55 | | | 0.28 | • | | 1.77 | | | | 2.05 | | | 0.17 | | | 0.33 | | | — | | | 0.50 | | | — | | | 15.10 | | | 15.69 | | | | 0.43 | | | 0.24 | | | 0.24 | | | 2.11 | | | 13,765 | | | 34 | |
| 12-31-19 | | | 11.19 | | | 0.27 | • | | 2.52 | | | | 2.79 | | | 0.13 | | | 0.30 | | | — | | | 0.43 | | | — | | | 13.55 | | | 25.32 | | | | 0.27 | | | 0.24 | | | 0.24 | | | 2.18 | | | 7,603 | | | 36 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.88 | | | 0.12 | • | | 1.20 | | | | 1.32 | | | — | | | — | | | — | | | — | | | — | | | 15.20 | | | 9.51 | | | | 0.55 | | | 0.33 | | | 0.33 | | | 1.70 | | | 8,970 | | | 9 | |
| 12-31-23 | | | 12.42 | | | (0.00 | )*• | | 2.44 | | | | 2.44 | | | 0.18 | | | 0.80 | | | — | | | 0.98 | | | — | | | 13.88 | | | 20.08 | | | | 0.60 | | | 0.37 | | | 0.37 | | | (0.02 | ) | | 8,533 | | | 117 | |
| 12-31-22 | | | 17.04 | | | 0.20 | • | | (3.30 | ) | | | (3.10 | ) | | 0.11 | | | 1.41 | | | — | | | 1.52 | | | — | | | 12.42 | | | (18.65 | ) | | | 0.63 | | | 0.47 | | | 0.47 | | | 1.39 | | | 6,050 | | | 34 | |
| 12-31-21 | | | 14.92 | | | 0.15 | • | | 2.51 | | | | 2.66 | | | 0.17 | | | 0.37 | | | — | | | 0.54 | | | — | | | 17.04 | | | 17.96 | | | | 0.66 | | | 0.49 | | | 0.49 | | | 0.95 | | | 9,659 | | | 37 | |
| 12-31-20 | | | 13.41 | | | 0.24 | • | | 1.75 | | | | 1.99 | | | 0.15 | | | 0.33 | | | — | | | 0.48 | | | — | | | 14.92 | | | 15.37 | | | | 0.68 | | | 0.49 | | | 0.49 | | | 1.83 | | | 8,248 | | | 34 | |
| 12-31-19 | | | 11.10 | | | 0.22 | • | | 2.50 | | | | 2.72 | | | 0.11 | | | 0.30 | | | — | | | 0.41 | | | — | | | 13.41 | | | 24.87 | | | | 0.52 | | | 0.49 | | | 0.49 | | | 1.74 | | | 5,693 | | | 36 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 13.77 | | | 0.12 | • | | 1.18 | | | | 1.30 | | | — | | | — | | | — | | | — | | | — | | | 15.07 | | | 9.44 | | | | 0.70 | | | 0.48 | | | 0.48 | | | 1.68 | | | 4,022 | | | 9 | |
| 12-31-23 | | | 12.34 | | | (0.02 | )• | | 2.42 | | | | 2.40 | | | 0.17 | | | 0.80 | | | — | | | 0.97 | | | — | | | 13.77 | | | 19.86 | | | | 0.75 | | | 0.52 | | | 0.52 | | | (0.17 | ) | | 3,219 | | | 117 | |
| 12-31-22 | | | 16.97 | | | 0.20 | • | | (3.31 | ) | | | (3.11 | ) | | 0.11 | | | 1.41 | | | — | | | 1.52 | | | — | | | 12.34 | | | (18.77 | ) | | | 0.78 | | | 0.62 | | | 0.62 | | | 1.42 | | | 2,381 | | | 34 | |
| 12-31-21 | | | 14.87 | | | 0.13 | • | | 2.49 | | | | 2.62 | | | 0.15 | | | 0.37 | | | — | | | 0.52 | | | — | | | 16.97 | | | 17.78 | | | | 0.81 | | | 0.64 | | | 0.64 | | | 0.80 | | | 2,296 | | | 37 | |
| 12-31-20 | | | 13.37 | | | 0.22 | • | | 1.74 | | | | 1.96 | | | 0.13 | | | 0.33 | | | — | | | 0.46 | | | — | | | 14.87 | | | 15.17 | | | | 0.83 | | | 0.64 | | | 0.64 | | | 1.74 | | | 2,098 | | | 34 | |
| 12-31-19 | | | 11.07 | | | 0.19 | • | | 2.51 | | | | 2.70 | | | 0.10 | | | 0.30 | | | — | | | 0.40 | | | — | | | 13.37 | | | 24.76 | | | | 0.67 | | | 0.64 | | | 0.64 | | | 1.56 | | | 1,545 | | | 36 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 14.28 | | | 0.16 | • | | 1.23 | | | | 1.39 | | | — | | | — | | | — | | | — | | | — | | | 15.67 | | | 9.73 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 2.11 | | | 436,780 | | | 9 | |
| 12-31-23 | | | 12.76 | | | 0.05 | • | | 2.50 | | | | 2.55 | | | 0.23 | | | 0.80 | | | — | | | 1.03 | | | — | | | 14.28 | | | 20.46 | | | | 0.23 | | | 0.00 | * | | 0.00 | * | | 0.34 | | | 381,153 | | | 117 | |
| 12-31-22 | | | 17.48 | | | 0.29 | • | | (3.40 | ) | | | (3.11 | ) | | 0.20 | | | 1.41 | | | — | | | 1.61 | | | — | | | 12.76 | | | (18.25 | ) | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.02 | | | 260,763 | | | 34 | |
| 12-31-21 | | | 15.27 | | | 0.25 | • | | 2.55 | | | | 2.80 | | | 0.22 | | | 0.37 | | | — | | | 0.59 | | | — | | | 17.48 | | | 18.50 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 1.49 | | | 243,777 | | | 37 | |
| 12-31-20 | | | 13.67 | | | 0.31 | • | | 1.79 | | | | 2.10 | | | 0.17 | | | 0.33 | | | — | | | 0.50 | | | — | | | 15.27 | | | 15.92 | | | | 0.25 | | | 0.00 | * | | 0.00 | * | | 2.35 | | | 159,536 | | | 34 | |
| 12-31-19 | | | 11.26 | | | 0.29 | • | | 2.55 | | | | 2.84 | | | 0.13 | | | 0.30 | | | — | | | 0.43 | | | — | | | 13.67 | | | 25.61 | | | | 0.27 | | | 0.00 | * | | 0.00 | * | | 2.31 | | | 84,826 | | | 36 | |
| Voya Index Solution 2065 Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.70 | | | 0.10 | • | | 1.02 | | | | 1.12 | | | — | | | — | | | — | | | — | | | — | | | 12.82 | | | 9.57 | | | | 0.83 | | | 0.59 | | | 0.59 | | | 1.67 | | | 4,082 | | | 9 | |
| 12-31-23 | | | 9.76 | | | (0.03 | )• | | 1.97 | | | | 1.94 | | | — | | | — | | | — | | | — | | | — | | | 11.70 | | | 19.88 | | | | 0.92 | | | 0.66 | | | 0.66 | | | (0.31 | ) | | 3,585 | | | 108 | |
| 12-31-22 | | | 12.79 | | | 0.12 | • | | (2.52 | ) | | | (2.40 | ) | | 0.12 | | | 0.51 | | | — | | | 0.63 | | | — | | | 9.76 | | | (18.86 | ) | | | 1.00 | | | 0.73 | | | 0.73 | | | 1.16 | | | 3,367 | | | 51 | |
| 12-31-21 | | | 11.58 | | | 0.12 | • | | 1.93 | | | | 2.05 | | | 0.08 | | | 0.76 | | | — | | | 0.84 | | | — | | | 12.79 | | | 17.74 | | | | 1.12 | | | 0.74 | | | 0.74 | | | 0.92 | | | 1,684 | | | 42 | |
| 07-29-20(5)- 12-31-20 | | | 10.00 | | | 0.08 | • | | 1.58 | | | | 1.66 | | | 0.07 | | | 0.01 | | | — | | | 0.08 | | | — | | | 11.58 | | | 16.62 | | | | 2.09 | | | 0.74 | | | 0.74 | | | 1.87 | | | 382 | | | 17 | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.80 | | | 0.13 | • | | 1.03 | | | | 1.16 | | | — | | | — | | | — | | | — | | | — | | | 12.96 | | | 9.83 | | | | 0.33 | | | 0.09 | | | 0.09 | | | 2.15 | | | 13,414 | | | 9 | |
| 12-31-23 | | | 9.80 | | | 0.02 | • | | 1.98 | | | | 2.00 | | | — | | | — | | | — | | | — | | | — | | | 11.80 | | | 20.41 | | | | 0.42 | | | 0.16 | | | 0.16 | | | 0.19 | | | 9,140 | | | 108 | |
| 12-31-22 | | | 12.82 | | | 0.21 | • | | (2.57 | ) | | | (2.36 | ) | | 0.15 | | | 0.51 | | | — | | | 0.66 | | | — | | | 9.80 | | | (18.45 | ) | | | 0.50 | | | 0.23 | | | 0.23 | | | 1.97 | | | 3,337 | | | 51 | |
| 12-31-21 | | | 11.58 | | | 0.20 | • | | 1.93 | | | | 2.13 | | | 0.13 | | | 0.76 | | | — | | | 0.89 | | | — | | | 12.82 | | | 18.45 | | | | 0.62 | | | 0.24 | | | 0.24 | | | 1.51 | | | 1,419 | | | 42 | |
| 07-29-20(5)- 12-31-20 | | | 10.00 | | | 0.13 | • | | 1.55 | | | | 1.68 | | | 0.09 | | | 0.01 | | | — | | | 0.10 | | | — | | | 11.58 | | | 16.79 | | | | 1.59 | | | 0.24 | | | 0.24 | | | 2.76 | | | 341 | | | 17 | |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.75 | | | 0.10 | • | | 1.03 | | | | 1.13 | | | — | | | — | | | — | | | — | | | — | | | 12.88 | | | 9.62 | | | | 0.58 | | | 0.34 | | | 0.34 | | | 1.70 | | | 3,772 | | | 9 | |
| 12-31-23 | | | 9.77 | | | (0.01 | )• | | 1.99 | | | | 1.98 | | | — | | | — | | | — | | | — | | | — | | | 11.75 | | | 20.27 | | | | 0.67 | | | 0.41 | | | 0.41 | | | (0.06 | ) | | 3,649 | | | 108 | |
| 12-31-22 | | | 12.80 | | | 0.17 | • | | (2.56 | ) | | | (2.39 | ) | | 0.13 | | | 0.51 | | | — | | | 0.64 | | | — | | | 9.77 | | | (18.71 | ) | | | 0.75 | | | 0.48 | | | 0.48 | | | 1.55 | | | 2,156 | | | 51 | |
| 12-31-21 | | | 11.58 | | | 0.16 | • | | 1.93 | | | | 2.09 | | | 0.11 | | | 0.76 | | | — | | | 0.87 | | | — | | | 12.80 | | | 18.08 | | | | 0.87 | | | 0.49 | | | 0.49 | | | 1.21 | | | 1,626 | | | 42 | |
See Accompanying Notes to Financial Statements
FINANCIAL HIGHLIGHTS (continued)
| | | | | | Income (loss)
from investment
operations | | | | | Less Distributions | | | | | | | | | | | | | Ratios to average net assets | | | Supplemental
Data |
| Year or | | | Net
asset
value,
beginning
of year
or period | | | Net
investment
income
(loss) | | | Net
realized
and
unrealized
gain
(loss) | | | | Total
from
investment
operations | | | From
net
investment
income | | | From
net
realized
gains | | | From
return
of
capital | | | Total
distributions | | | Payment
by
affiliate | | | Net
asset
value,
end of
year
or
period | | | Total Return
(1) | | | | Expenses
before
reductions/
additions
(2)(3)(4) | | | Expenses
net of fee
waivers
and/or
recoupments
if any
(2)(3)(4) | | | Expenses
net of all
reductions/
additions
(2)(3)(4) | | | Net
investment
income
(loss)
(2)(3) | | | Net
assets,
end of
year or
period | | | Portfolio
turnover
rate | |
| period ended | | | ($) | | | ($) | | | ($) | | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | (%) | | | | (%) | | | (%) | | | (%) | | | (%) | | | ($000’s) | | | (%) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Voya Index Solution 2065 Portfolio (continued) |
| Class S (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 07-29-20(5)- 12-31-20 | | | 10.00 | | | 0.11 | • | | 1.56 | | | | 1.67 | | | 0.08 | | | 0.01 | | | — | | | 0.09 | | | — | | | 11.58 | | | 16.72 | | | | 1.84 | | | 0.49 | | | 0.49 | | | 2.50 | | | 382 | | | 17 | |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.71 | | | 0.11 | • | | 1.01 | | | | 1.12 | | | — | | | — | | | — | | | — | | | — | | | 12.83 | | | 9.56 | | | | 0.73 | | | 0.49 | | | 0.49 | | | 1.77 | | | 2,088 | | | 9 | |
| 12-31-23 | | | 9.76 | | | (0.02 | )• | | 1.97 | | | | 1.95 | | | — | | | — | | | — | | | — | | | — | | | 11.71 | | | 19.98 | | | | 0.82 | | | 0.56 | | | 0.56 | | | (0.21 | ) | | 1,337 | | | 108 | |
| 12-31-22 | | | 12.78 | | | 0.16 | • | | (2.55 | ) | | | (2.39 | ) | | 0.12 | | | 0.51 | | | — | | | 0.63 | | | — | | | 9.76 | | | (18.74 | ) | | | 0.90 | | | 0.63 | | | 0.63 | | | 1.45 | | | 611 | | | 51 | |
| 12-31-21 | | | 11.57 | | | 0.09 | • | | 1.97 | | | | 2.06 | | | 0.09 | | | 0.76 | | | — | | | 0.85 | | | — | | | 12.78 | | | 17.87 | | | | 1.02 | | | 0.64 | | | 0.64 | | | 0.70 | | | 428 | | | 42 | |
| 07-29-20(5)- 12-31-20 | | | 10.00 | | | 0.13 | • | | 1.53 | | | | 1.66 | | | 0.08 | | | 0.01 | | | — | | | 0.09 | | | — | | | 11.57 | | | 16.59 | | | | 1.99 | | | 0.64 | | | 0.64 | | | 2.80 | | | 175 | | | 17 | |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 06-30-24+ | | | 11.86 | | | 0.14 | • | | 1.03 | | | | 1.17 | | | — | | | — | | | — | | | — | | | — | | | 13.03 | | | 9.87 | | | | 0.24 | | | 0.00 | * | | 0.00 | * | | 2.18 | | | 97,167 | | | 9 | |
| 12-31-23 | | | 9.83 | | | 0.04 | • | | 1.99 | | | | 2.03 | | | — | | | — | | | — | | | — | | | — | | | 11.86 | | | 20.65 | | | | 0.26 | | | 0.00 | * | | 0.00 | * | | 0.35 | | | 72,511 | | | 108 | |
| 12-31-22 | | | 12.85 | | | 0.23 | • | | (2.57 | ) | | | (2.34 | ) | | 0.17 | | | 0.51 | | | — | | | 0.68 | | | — | | | 9.83 | | | (18.27 | ) | | | 0.30 | | | 0.00 | * | | 0.00 | * | | 2.13 | | | 34,267 | | | 51 | |
| 12-31-21 | | | 11.59 | | | 0.22 | • | | 1.94 | | | | 2.16 | | | 0.14 | | | 0.76 | | | — | | | 0.90 | | | — | | | 12.85 | | | 18.69 | | | | 0.48 | | | 0.00 | * | | 0.00 | * | | 1.72 | | | 16,030 | | | 42 | |
| 07-29-20(5)- 12-31-20 | | | 10.00 | | | 0.12 | • | | 1.57 | | | | 1.69 | | | 0.09 | | | 0.01 | | | — | | | 0.10 | | | — | | | 11.59 | | | 16.89 | | | | 1.57 | | | 0.00 | * | | 0.00 | * | | 2.74 | | | 3,190 | | | 17 | |
| (1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized. |
| (2) | Annualized for periods less than one year. |
| (3) | Ratios reflect operating expenses of a Portfolio. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Portfolio during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Portfolio. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Ratios do not include expenses of underlying funds and do not include fees and expenses charged under the variable annuity contract or variable life insurance policy. |
| (5) | Commencement of operations. |
| * | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
| + | Unaudited. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
See Accompanying Notes to Financial Statements
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited)
NOTE 1 — ORGANIZATION
Voya Partners, Inc. (the “Company”) is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). It was incorporated under the laws of Maryland on May 7, 1997. The Articles of Incorporation permit the Company to offer separate series, each of which has its own investment objective, policies and restrictions. The Company currently consists of thirty-seven active separate investment series. The ten series (each, a “Portfolio” and collectively, the “Portfolios”) included in this report are: Voya Index Solution Income Portfolio (“Index Solution Income”), Voya Index Solution 2025 Portfolio (“Index Solution 2025”), Voya Index Solution 2030 Portfolio (“Index Solution 2030”), Voya Index Solution 2035 Portfolio (“Index Solution 2035”), Voya Index Solution 2040 Portfolio (“Index Solution 2040”), Voya Index Solution 2045 Portfolio (“Index Solution 2045”), Voya Index Solution 2050 Portfolio (“Index Solution 2050”), Voya Index Solution 2055 Portfolio (“Index Solution 2055”), Voya Index Solution 2060 Portfolio (“Index Solution 2060”) and Voya Index Solution 2065 Portfolio (“Index Solution 2065”), each a diversified series of the Company.
Index Solution 2025, Index Solution 2030, Index Solution 2035, Index Solution 2040, Index Solution 2045, Index Solution 2050, Index Solution 2055, Index Solution 2060 and Index Solution 2065 are structured and managed around a specific target retirement or financial goal date (“Target Date”). When these Portfolios reach their respective Target Date, they may be combined with Index Solution Income, without a vote of shareholders, if approved by the Board of Directors (the “Board”).
The classes of shares included in this report are: Adviser (“Class ADV”), Initial (“Class I”), Service (“Class S”), Service 2 (“Class S2”) and Class Z. Shares of the Portfolios may be offered to separate accounts (“Separate Accounts”) of insurance companies as investment options in connection with variable annuity contracts and variable life insurance policies (“Variable Contracts”) and to certain of the Portfolios’ investment advisers and their affiliates. In the future, shares may also be offered to qualified pension and retirement plans (“Qualified Plans”) outside the Separate Account context. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees, as well as differences in the amount of waiver of fees and reimbursement of expenses, if any. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/ losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between
share classes. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Distributions are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if any, as well as differences in the amount of waiver of fees and reimbursement of expenses between the separate classes, if any.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company serves as the Investment Adviser to the Portfolios. Voya Investment Management Co. LLC (“Voya IM” or the “Sub-Adviser”), a Delaware limited liability company, serves as the Sub-Adviser to the Portfolios. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Portfolios.
Each Portfolio seeks to achieve its investment objective by investing in other investment companies (“Underlying Funds”) and uses asset allocation strategies to determine how much to invest in the Underlying Funds. The investment objective of each of the Portfolios is described in the respective Portfolio’s Prospectus.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Portfolios are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.
The following significant accounting policies are consistently followed by the Portfolios in the preparation of their financial statements. Each Portfolio is considered an investment company under U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.
A. Security Valuation. Each Portfolio is open for business every day the New York Stock Exchange (“NYSE”) opens for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each class of each Portfolio is determined each Business Day as of the close of the regular trading session (“Market Close”), as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
each class of each Portfolio is calculated by taking the value of the Portfolio’s assets attributable to that class, subtracting the Portfolio’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Portfolio is closed for business, Portfolio shares will not be priced and a Portfolio does not transact purchase and redemption orders. To the extent a Portfolio’s assets are traded in other markets on days when a Portfolio does not price its shares, the value of a Portfolio’s assets will likely change and you will not be able to purchase or redeem shares of a Portfolio.
Portfolio securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered investment companies in which each Portfolio may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Foreign securities’ prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close.
When a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been halted or there are unexpected market closures or other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of other Portfolio assets, the asset is priced at its fair value. The Board has designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of each Portfolio’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Portfolio’s sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of an asset’s fair value. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent pricing service that are intended to reflect valuation changes through the NYSE close. Because of the inherent uncertainties of fair valuation, the values used to determine each Portfolio’s NAV may materially differ from the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Portfolio.
The Portfolios’ financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:
Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the portfolio can access at the reporting date.
Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).
Level 3 – unobservable inputs (including the portfolio’s own assumptions in determining fair value).
Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.
A table summarizing each Portfolio’s investments under these levels of classification is included within each Portfolio of Investments.
Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. The Portfolios classify each of their investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments held by the Underlying Funds. A table summarizing each Portfolio’s investments under these levels of classification is included within the Portfolio of Investments.
GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Portfolio has a significant amount of Level 3 investments.
B. Securities Transactions and Revenue Recognition. Security transactions are accounted for on the trade date. Dividend income received from the Underlying Funds is recognized on the ex-dividend date and is recorded as dividends from underlying funds in the Statements of Operations. Capital gain distributions received from the Underlying Funds are recognized on the ex-dividend date and are recorded on the Statements of Operations as such. Realized gains and losses are reported on the basis of identified cost of securities sold.
C. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. Dividends from net investment income and capital gain distributions, if any, are declared and paid annually. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.
D. Federal Income Taxes. It is the policy of each Portfolio to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required. Management has considered the sustainability of the Portfolios’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.
The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
E. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
F. Risk Exposures and the Use of Derivative Instruments. Each Portfolio’s investment strategies permit it to enter into various types of derivatives contracts, including, but not limited to, futures contracts. In doing so, a Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow a Portfolio to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.
In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:
Equity Risk. Stock prices may be volatile or have reduced liquidity in response to real or perceived impacts of factors including, but not limited to, economic conditions, changes in market interest rates, and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Portfolio to achieve its investment objectives.
Risks of Investing in Derivatives. Each Portfolio’s use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where a Portfolio is using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Portfolio, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.
Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Portfolio. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Portfolio and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Portfolio may not realize the intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.
Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated over-the-counter (“OTC”) with a single counterparty and as a result are subject to credit risks related to the counterparty’s ability or willingness to perform its obligations; any deterioration in the counterparty’s creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Portfolio to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market’s movements and may have unexpected or undesired results such as a loss or a reduction in gains.
G. Futures Contracts. Certain Portfolios may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date. A Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when each Portfolio’s assets are valued.
Upon entering into a futures contract, a Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract
value. Subsequent payments (variation margin) are made or received by a Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses and, if any, shown as variation margin receivable or payable on futures contracts on the Statement of Assets and Liabilities. Open futures contracts are reported on a table following each Portfolio’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts, if any, are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in the Statements of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the Statements of Operations. Realized gains (losses) are reported in the Statements of Operations at the closing or expiration of futures contracts.
During the period ended June 30, 2024, there were no futures contracts entered into by Portfolio.
H. Indemnifications. In the normal course of business, the Company may enter into contracts that provide certain indemnifications. The Company’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.
NOTE 3 — INVESTMENTS IN UNDERLYING FUNDS
For the six months ended June 30, 2024, the cost of purchases and the proceeds from sales of the Underlying Funds were as follows:
| | | Purchases | | | Sales | |
| Index Solution Income | | $ | 65,415,939 | | | $ | 121,141,877 | |
| Index Solution 2025 | | | 159,341,586 | | | | 247,415,568 | |
| Index Solution 2030 | | | 118,297,446 | | | | 128,720,393 | |
| Index Solution 2035 | | | 177,586,506 | | | | 193,308,498 | |
| Index Solution 2040 | | | 105,143,635 | | | | 108,332,387 | |
| Index Solution 2045 | | | 130,720,180 | | | | 11,139,297 | |
| Index Solution 2050 | | | 90,693,915 | | | | 76,092,483 | |
| Index Solution 2055 | | | 93,391,762 | | | | 79,961,211 | |
| Index Solution 2060 | | | 69,526,889 | | | | 44,357,073 | |
| Index Solution 2065 | | | 30,857,000 | | | | 9,131,231 | |
NOTE 4 — INVESTMENT MANAGEMENT FEES
The Portfolios have entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Portfolios. The Investment Adviser oversees all investment management and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing,
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 4 — INVESTMENT MANAGEMENT FEES (continued)
accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates: 0.20% of each Portfolio’s average daily nets assets invested in affiliated Underlying Funds and/or Funding Agreements and 0.40% of each Portfolio’s average daily net assets invested in unaffiliated Underlying Funds and/or other direct investments.
The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Portfolio. Voya IM provides investment advice for the Portfolios and is paid by the Investment Adviser based on the average daily net assets of each respective Portfolio. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Portfolios’ assets in accordance with the Portfolios’ investment objectives, policies, and limitations.
NOTE 5 — DISTRIBUTION AND SERVICE FEES
Classes ADV and S2 of the Portfolios have a plan of distribution (the “Plans”), whereby the Distributor is reimbursed or compensated by the Portfolios for expenses incurred in the distribution of each respective Portfolio’s shares. The Distributor may pay, on behalf of each Portfolio, out of its distribution fee, compensation to certain financial institutions for providing distribution assistance pursuant to a Distribution Services Agreement. Under the Plans each Portfolio makes payments to the Distributor at an annual rate of 0.25% of each Portfolio’s average daily net assets attributable to its Class ADV shares and each Portfolio makes payments to the Distributor at an annual rate of 0.15% of each Portfolio’s average daily net assets attributable to its Class S2 shares.
The Company has a shareholder servicing plan (“Service Plan”) for the Classes ADV, S and S2 shares of each respective Portfolio. The Service Plan allows the Distributor to enter into shareholder servicing agreements with insurance companies, broker dealers or other financial intermediaries that provide administrative services related to Classes ADV, S and S2 shares and their shareholders including Variable Contract owners or Qualified Plan participants with interests in the Portfolios. Under the Service Plan, each Portfolio makes payments to the Distributor which shall not exceed an annual rate of 0.25% of each Portfolio’s average daily net assets attributable to its Classes ADV, S and S2 shares.
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At June 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the following Portfolios:
| Subsidiary | | Portfolio | | Percentage |
| | | | | | |
| Voya Institutional Trust Company | | Index Solution Income | | 36.19 | % |
| | | Index Solution 2025 | | 20.44 | |
| | | Index Solution 2030 | | 16.16 | |
| | | Index Solution 2035 | | 18.00 | |
| | | Index Solution 2040 | | 14.74 | |
| | | Index Solution 2045 | | 19.88 | |
| | | Index Solution 2050 | | 14.49 | |
| | | Index Solution 2055 | | 17.17 | |
| | | Index Solution 2060 | | 17.16 | |
| | | Index Solution 2065 | | 11.50 | |
| | | | | | |
| Voya Retirement Insurance and Annuity Company | | Index Solution Income | | 63.79 | |
| | | Index Solution 2025 | | 79.56 | |
| | | Index Solution 2030 | | 83.80 | |
| | | Index Solution 2035 | | 81.99 | |
| | | Index Solution 2040 | | 85.22 | |
| | | Index Solution 2045 | | 80.12 | |
| | | Index Solution 2050 | | 85.50 | |
| | | Index Solution 2055 | | 82.83 | |
| | | Index Solution 2060 | | 82.84 | |
| | | Index Solution 2065 | | 88.50 | |
The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors, as described in the DC Plan, to defer the receipt of all or a portion of the directors’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director (the “Notional Funds”). When the Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’ deferred fees, this results in a Portfolio asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’ fees under the DC Plan will not affect net assets of the Portfolios, and will not materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Portfolios may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended June 30, 2024, the per account fees for affiliated recordkeeping services paid by each Portfolio were as follows:
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)
| Portfolio | | Amount |
| Index Solution Income | $38,239 |
| Index Solution 2025 | 57,889 |
| Index Solution 2030 | 28,407 |
| Index Solution 2035 | 83,317 |
| Index Solution 2040 | 27,728 |
| Index Solution 2045 | 88,385 |
| Index Solution 2050 | 27,383 |
| Index Solution 2055 | 81,121 |
| Index Solution 2060 | 25,244 |
| Index Solution 2065 | 10,041 |
NOTE 7 —EXPENSE LIMITATION AGREEMENTS
The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with each Portfolio whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses to the levels listed below.
| Portfolio(1) | | Class
ADV | | Class
I | | Class
S | | Class
S2 | | Class
Z |
| Index Solution Income | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2025 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2030 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2035 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2040 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2045 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2050 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2055 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2060 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| Index Solution 2065 | | 0.74% | | 0.24% | | 0.49% | | 0.64% | | 0.00% |
| (1) | Any fees waived pursuant to the Expense Limitation Agreement shall not be eligible for recoupment. |
The Expense Limitation Agreement is contractual through May 1, 2025 and shall renew automatically for one-year
terms. Termination or modification of this obligation requires approval by the Board.
NOTE 8 — LINE OF CREDIT
Effective June 10, 2024, the Portfolios, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York Mellon (“BNY”) for an aggregate amount of $400,000,000 through June 9, 2025. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Portfolio or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2024, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.
The following Portfolios utilized the line of credit during the six months ended June 30, 2024 as follows:
| Portfolio | | Days
Utilized | | | Approximate
Average
Daily Balance
For Days
Utilized | | | Approximate
Weighted
Average
Interest Rate
For Days
Utilized | |
| Index Solution Income | | 4 | | | $ | 3,096,250 | | | 6.33% | |
NOTE 9 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
| | | Shares
sold | | Shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net
increase
(decrease)
in
shares
outstanding | | Shares
sold | | Proceeds
from
shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net increase
(decrease) |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | # | | # | | # | | # | | # | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Index Solution Income | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 161,511 | | — | | — | | (790,867) | | — | | (629,356) | | 1,506,637 | | — | | — | | (7,458,686) | | — | | (5,952,049) |
| 12/31/2023 | | 310,752 | | — | | 267,653 | | (1,750,742) | | — | | (1,172,337) | | 2,773,988 | | — | | 2,366,049 | | (15,650,137) | | — | | (10,510,100) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 93,829 | | — | | — | | (318,548) | | — | | (224,719) | | 907,399 | | — | | — | | (3,075,941) | | — | | (2,168,542) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | Shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net
increase
(decrease)
in
shares
outstanding | | Shares
sold | | Proceeds
from
shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net increase
(decrease) |
| Year or | | | | | | | | | | | | | | | | | | | | | | | | |
| period ended | | # | | # | | # | | # | | # | | # | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Index Solution Income (continued) | | | | | | | | | | | | | | | | | | | | |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 12/31/2023 | | 258,483 | | — | | 54,646 | | (189,436) | | — | | 123,693 | | 2,380,019 | | — | | 497,279 | | (1,762,233) | | — | | 1,115,065 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 48,220 | | — | | — | | (763,191) | | — | | (714,971) | | 460,914 | | — | | — | | (7,312,491) | | — | | (6,851,577) |
| 12/31/2023 | | 295,365 | | — | | 395,509 | | (1,880,379) | | — | | (1,189,505) | | 2,690,180 | | — | | 3,563,536 | | (17,180,735) | | — | | (10,927,019) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 250,050 | | — | | — | | (148,959) | | — | | 101,091 | | 2,309,312 | | — | | — | | (1,383,986) | | — | | 925,326 |
| 12/31/2023 | | 412,789 | | — | | 79,200 | | (361,361) | | — | | 130,628 | | 3,662,861 | | — | | 692,207 | | (3,195,929) | | — | | 1,159,139 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 872,629 | | — | | — | | (6,078,426) | | — | | (5,205,797) | | 8,620,344 | | — | | — | | (59,828,819) | | — | | (51,208,475) |
| 12/31/2023 | | 2,795,818 | | — | | 2,305,654 | | (8,301,293) | | — | | (3,199,821) | | 26,068,782 | | — | | 21,350,352 | | (77,785,814) | | — | | (30,366,680) |
| Index Solution 2025 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 385,686 | | — | | — | | (1,552,933) | | — | | (1,167,247) | | 3,942,117 | | — | | — | | (16,004,740) | | — | | (12,062,623) |
| 12/31/2023 | | 623,753 | | — | | 666,418 | | (2,486,261) | | — | | (1,196,090) | | 5,980,397 | | — | | 6,337,632 | | (23,945,967) | | — | | (11,627,938) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 269,690 | | — | | — | | (866,612) | | — | | (596,922) | | 2,874,658 | | — | | — | | (9,101,642) | | — | | (6,226,984) |
| 12/31/2023 | | 512,915 | | — | | 255,665 | | (600,709) | | — | | 167,871 | | 5,074,499 | | — | | 2,500,404 | | (5,963,580) | | — | | 1,611,323 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 247,811 | | — | | — | | (1,568,415) | | — | | (1,320,604) | | 2,579,999 | | — | | — | | (16,398,257) | | — | | (13,818,258) |
| 12/31/2023 | | 471,084 | | — | | 534,548 | | (1,501,140) | | — | | (495,508) | | 4,627,298 | | — | | 5,163,738 | | (14,641,147) | | — | | (4,850,111) |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 335,523 | | — | | — | | (310,046) | | — | | 25,477 | | 3,395,293 | | — | | — | | (3,154,915) | | — | | 240,378 |
| 12/31/2023 | | 610,048 | | — | | 191,901 | | (564,249) | | — | | 237,700 | | 5,715,358 | | — | | 1,805,786 | | (5,323,279) | | — | | 2,197,865 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 1,597,077 | | — | | — | | (8,200,862) | | — | | (6,603,785) | | 17,247,090 | | — | | — | | (87,827,187) | | — | | (70,580,097) |
| 12/31/2023 | | 4,557,188 | | — | | 4,423,170 | | (10,510,345) | | — | | (1,529,987) | | 46,321,027 | | — | | 44,054,777 | | (105,846,188) | | — | | (15,470,384) |
| Index Solution 2030 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 145,317 | | — | | — | | (305,028) | | — | | (159,711) | | 2,184,561 | | — | | — | | (4,556,173) | | — | | (2,371,612) |
| 12/31/2023 | | 448,471 | | — | | 189,734 | | (757,458) | | — | | (119,253) | | 6,302,198 | | — | | 2,635,400 | | (10,709,690) | | — | | (1,772,092) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 149,724 | | — | | — | | (168,572) | | — | | (18,848) | | 2,306,087 | | — | | — | | (2,611,136) | | — | | (305,049) |
| 12/31/2023 | | 272,405 | | — | | 55,821 | | (104,960) | | — | | 223,266 | | 4,045,190 | | — | | 805,503 | | (1,603,947) | | — | | 3,246,746 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 124,077 | | — | | — | | (248,575) | | — | | (124,498) | | 1,912,753 | | — | | — | | (3,864,233) | | — | | (1,951,480) |
| 12/31/2023 | | 296,023 | | — | | 76,632 | | (198,523) | | — | | 174,132 | | 4,337,491 | | — | | 1,096,605 | | (2,863,257) | | — | | 2,570,839 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 264,412 | | — | | — | | (137,095) | | — | | 127,317 | | 4,011,113 | | — | | — | | (2,065,101) | | — | | 1,946,012 |
| 12/31/2023 | | 403,001 | | — | | 79,849 | | (107,348) | | — | | 375,502 | | 5,642,314 | | — | | 1,115,490 | | (1,507,448) | | — | | 5,250,356 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 1,883,509 | | — | | — | | (3,104,844) | | — | | (1,221,335) | | 29,910,828 | | — | | — | | (49,254,694) | | — | | (19,343,866) |
| 12/31/2023 | | 4,220,115 | | — | | 3,759,447 | | (4,855,120) | | — | | 3,124,442 | | 63,060,326 | | — | | 55,188,688 | | (72,587,641) | | — | | 45,661,373 |
| Index Solution 2035 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 449,039 | | — | | — | | (1,521,518) | | — | | (1,072,479) | | 4,952,419 | | — | | — | | (16,855,981) | | — | | (11,903,562) |
| 12/31/2023 | | 749,475 | | — | | 981,612 | | (2,297,709) | | — | | (566,622) | | 7,660,352 | | — | | 9,884,830 | | (23,605,287) | | — | | (6,060,105) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 323,663 | | — | | — | | (923,681) | | — | | (600,018) | | 3,709,034 | | — | | — | | (10,473,079) | | — | | (6,764,045) |
| 12/31/2023 | | 845,904 | | — | | 460,375 | | (352,545) | | — | | 953,734 | | 8,944,174 | | — | | 4,797,108 | | (3,643,406) | | — | | 10,097,876 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 222,324 | | — | | — | | (1,053,617) | | — | | (831,293) | | 2,473,870 | | — | | — | | (11,866,514) | | — | | (9,392,644) |
| 12/31/2023 | | 919,351 | | — | | 702,323 | | (1,039,136) | | — | | 582,538 | | 9,653,704 | | — | | 7,205,831 | | (10,838,963) | | — | | 6,020,572 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 613,540 | | — | | — | | (373,563) | | — | | 239,977 | | 6,665,350 | | — | | — | | (4,121,009) | | — | | 2,544,341 |
| 12/31/2023 | | 739,577 | | — | | 341,457 | | (320,485) | | — | | 760,549 | | 7,506,756 | | — | | 3,414,569 | | (3,195,576) | | — | | 7,725,749 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 4,277,775 | | — | | — | | (5,042,440) | | — | | (764,665) | | 49,830,635 | | — | | — | | (58,502,274) | | — | | (8,671,639) |
| 12/31/2023 | | 10,349,512 | | — | | 8,170,585 | | (6,562,691) | | — | | 11,957,406 | | 112,530,707 | | — | | 86,935,022 | | (70,700,544) | | — | | 128,765,185 |
| Index Solution 2040 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 169,882 | | — | | — | | (220,224) | | — | | (50,342) | | 2,829,680 | | — | | — | | (3,728,619) | | — | | (898,939) |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | Shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net
increase
(decrease)
in
shares
outstanding | | Shares
sold | | Proceeds
from
shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net increase
(decrease) |
Year or
period ended | | # | | # | | # | | # | | # | | # | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Index Solution 2040 (continued) | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 12/31/2023 | | 314,168 | | — | | 144,658 | | (378,302) | | — | | 80,524 | | 4,907,212 | | — | | 2,220,501 | | (5,894,123) | | — | | 1,233,590 |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 114,611 | | — | | — | | (171,698) | | — | | (57,087) | | 2,010,168 | | — | | — | | (2,964,529) | | — | | (954,361) |
| 12/31/2023 | | 246,447 | | — | | 64,248 | | (68,786) | | — | | 241,909 | | 3,984,074 | | — | | 1,022,833 | | (1,136,631) | | — | | 3,870,276 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 91,730 | | — | | — | | (114,213) | | — | | (22,483) | | 1,618,108 | | — | | — | | (2,006,899) | | — | | (388,791) |
| 12/31/2023 | | 221,561 | | — | | 67,071 | | (169,586) | | — | | 119,046 | | 3,593,283 | | — | | 1,066,425 | | (2,683,009) | | — | | 1,976,699 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 45,973 | | — | | — | | (30,776) | | — | | 15,197 | | 786,332 | | — | | — | | (528,636) | | — | | 257,696 |
| 12/31/2023 | | 87,624 | | — | | 26,678 | | (45,516) | | — | | 68,786 | | 1,392,498 | | — | | 414,574 | | (709,776) | | — | | 1,097,296 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 2,198,829 | | — | | — | | (2,807,025) | | — | | (608,196) | | 39,265,293 | | — | | — | | (49,882,252) | | — | | (10,616,959) |
| 12/31/2023 | | 5,654,201 | | — | | 3,918,370 | | (2,920,635) | | — | | 6,651,936 | | 92,717,473 | | — | | 63,477,601 | | (47,851,982) | | — | | 108,343,092 |
| Index Solution 2045 | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 334,963 | | — | | — | | (627,235) | | — | | (292,272) | | 3,988,306 | | — | | — | | (7,502,551) | | — | | (3,514,245) |
| 12/31/2023 | | 764,500 | | — | | 837,315 | | (1,532,955) | | — | | 68,860 | | 8,321,424 | | — | | 9,009,512 | | (16,805,937) | | — | | 524,999 |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 350,178 | | — | | — | | (1,112,122) | | — | | (761,944) | | 4,353,560 | | — | | — | | (13,484,106) | | — | | (9,130,546) |
| 12/31/2023 | | 611,143 | | — | | 449,218 | | (354,032) | | — | | 706,329 | | 7,013,443 | | — | | 5,058,193 | | (4,009,542) | | — | | 8,062,094 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 181,197 | | — | | — | | (525,557) | | — | | (344,360) | | 2,214,167 | | — | | — | | (6,458,445) | | — | | (4,244,278) |
| 12/31/2023 | | 495,275 | | — | | 503,539 | | (555,262) | | — | | 443,552 | | 5,575,851 | | — | | 5,559,066 | | (6,199,869) | | — | | 4,935,048 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 391,093 | | — | | — | | (162,995) | | — | | 228,098 | | 4,616,874 | | — | | — | | (1,951,432) | | — | | 2,665,442 |
| 12/31/2023 | | 525,713 | | — | | 285,512 | | (237,040) | | — | | 574,185 | | 5,725,542 | | — | | 3,060,692 | | (2,594,880) | | — | | 6,191,354 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 3,380,185 | | — | | — | | (3,348,085) | | — | | 32,100 | | 43,136,416 | | — | | — | | (42,504,229) | | — | | 632,187 |
| 12/31/2023 | | 8,172,772 | | — | | 6,755,360 | | (4,380,085) | | — | | 10,548,047 | | 95,539,044 | | — | | 77,619,082 | | (50,821,729) | | — | | 122,336,397 |
| Index Solution 2050 | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 115,486 | | — | | — | | (141,691) | | — | | (26,205) | | 2,048,001 | | — | | — | | (2,532,992) | | — | | (484,991) |
| 12/31/2023 | | 290,131 | | — | | 103,991 | | (278,115) | | — | | 116,007 | | 4,722,162 | | — | | 1,670,097 | | (4,544,573) | | — | | 1,847,686 |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 168,927 | | — | | — | | (110,973) | | — | | 57,954 | | 3,086,477 | | — | | — | | (1,976,197) | | — | | 1,110,280 |
| 12/31/2023 | | 352,167 | | — | | 80,776 | | (125,185) | | — | | 307,758 | | 5,873,921 | | — | | 1,337,654 | | (2,081,222) | | — | | 5,130,353 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 113,506 | | — | | — | | (156,923) | | — | | (43,417) | | 2,037,506 | | — | | — | | (2,864,395) | | — | | (826,889) |
| 12/31/2023 | | 161,479 | | — | | 57,546 | | (131,675) | | — | | 87,350 | | 2,706,909 | | — | | 950,666 | | (2,173,989) | | — | | 1,483,586 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 44,873 | | — | | — | | (10,691) | | — | | 34,182 | | 802,739 | | — | | — | | (189,540) | | — | | 613,199 |
| 12/31/2023 | | 89,578 | | — | | 22,044 | | (87,313) | | — | | 24,309 | | 1,480,729 | | — | | 356,003 | | (1,441,259) | | — | | 395,473 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 2,067,359 | | — | | — | | (1,700,220) | | — | | 367,139 | | 38,678,115 | | — | | — | | (31,622,593) | | — | | 7,055,522 |
| 12/31/2023 | | 5,662,308 | | — | | 3,045,465 | | (1,842,439) | | — | | 6,865,334 | | 96,271,381 | | — | | 51,224,722 | | (31,332,934) | | — | | 116,163,169 |
| Index Solution 2055 | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 219,315 | | — | | — | | (397,680) | | — | | (178,365) | | 3,580,882 | | — | | — | | (6,538,687) | | — | | (2,957,805) |
| 12/31/2023 | | 514,167 | | — | | 272,676 | | (533,580) | | — | | 253,263 | | 7,587,933 | | — | | 4,016,524 | | (7,947,673) | | — | | 3,656,784 |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 264,123 | | — | | — | | (419,295) | | — | | (155,172) | | 4,432,436 | | — | | — | | (6,840,264) | | — | | (2,407,828) |
| 12/31/2023 | | 563,586 | | — | | 249,804 | | (144,115) | | — | | 669,275 | | 8,659,263 | | — | | 3,799,514 | | (2,200,787) | | — | | 10,257,990 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 164,196 | | — | | — | | (208,226) | | — | | (44,030) | | 2,716,966 | | — | | — | | (3,468,649) | | — | | (751,683) |
| 12/31/2023 | | 416,836 | | — | | 189,774 | | (174,246) | | — | | 432,364 | | 6,294,600 | | — | | 2,842,817 | | (2,625,690) | | — | | 6,511,727 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 253,839 | | — | | — | | (62,396) | | — | | 191,443 | | 4,130,911 | | — | | — | | (1,014,788) | | — | | 3,116,123 |
| 12/31/2023 | | 396,950 | | — | | 127,745 | | (127,744) | | — | | 396,951 | | 5,893,398 | | — | | 1,884,236 | | (1,899,699) | | — | | 5,877,935 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 2,125,839 | | — | | — | | (1,657,617) | | — | | 468,222 | | 36,673,682 | | — | | — | | (28,316,962) | | — | | 8,356,720 |
| 12/31/2023 | | 5,395,538 | | — | | 2,787,428 | | (1,568,277) | | — | | 6,614,689 | | 84,453,774 | | — | | 43,205,136 | | (24,404,551) | | — | | 103,254,359 |
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 9 — CAPITAL SHARES (continued)
| | | Shares
sold | | Shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net
increase
(decrease)
in
shares
outstanding | | Shares
sold | | Proceeds
from
shares
issued in
merger | | Reinvestment
of
distributions | | Shares
redeemed | | Shares
converted | | Net increase
(decrease) |
Year or
period ended | | # | | # | | # | | # | | # | | # | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Index Solution 2060 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 115,883 | | — | | — | | (145,379) | | — | | (29,496) | | 1,668,546 | | — | | — | | (2,096,116) | | — | | (427,570) |
| 12/31/2023 | | 330,506 | | — | | 81,921 | | (221,654) | | — | | 190,773 | | 4,322,976 | | — | | 1,061,699 | | (2,898,112) | | — | | 2,486,563 |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 362,582 | | — | | — | | (168,427) | | — | | 194,155 | | 5,299,452 | | — | | — | | (2,467,188) | | — | | 2,832,264 |
| 12/31/2023 | | 579,190 | | — | | 148,623 | | (122,751) | | — | | 605,062 | | 7,724,138 | | — | | 1,973,710 | | (1,630,021) | | — | | 8,067,827 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 79,511 | | — | | — | | (104,294) | | — | | (24,783) | | 1,149,842 | | — | | — | | (1,519,395) | | — | | (369,553) |
| 12/31/2023 | | 166,160 | | — | | 39,215 | | (77,411) | | — | | 127,964 | | 2,178,233 | | — | | 514,887 | | (1,001,372) | | — | | 1,691,748 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 40,347 | | — | | — | | (7,298) | | — | | 33,049 | | 581,517 | | — | | — | | (105,228) | | — | | 476,289 |
| 12/31/2023 | | 63,071 | | — | | 14,944 | | (37,075) | | — | | 40,940 | | 820,991 | | — | | 194,869 | | (487,072) | | — | | 528,788 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 2,316,840 | | — | | — | | (1,132,467) | | — | | 1,184,373 | | 34,667,960 | | — | | — | | (16,866,307) | | — | | 17,801,653 |
| 12/31/2023 | | 5,539,307 | | — | | 1,774,100 | | (1,056,208) | | — | | 6,257,199 | | 75,090,203 | | — | | 23,950,349 | | (14,323,330) | | — | | 84,717,222 |
| Index Solution 2065 | | | | | | | | | | | | | | | | | | | | | | |
| Class ADV | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 87,318 | | — | | — | | (75,258) | | — | | 12,060 | | 1,073,913 | | — | | — | | (943,373) | | — | | 130,540 |
| 12/31/2023 | | 149,355 | | — | | — | | (187,803) | | — | | (38,448) | | 1,586,964 | | — | | — | | (1,981,068) | | — | | (394,104) |
| Class I | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 333,968 | | — | | — | | (73,223) | | — | | 260,745 | | 4,126,363 | | — | | — | | (898,447) | | — | | 3,227,916 |
| 12/31/2023 | | 477,865 | | — | | — | | (43,967) | | — | | 433,898 | | 5,143,912 | | — | | — | | (478,617) | | — | | 4,665,295 |
| Class S | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 62,436 | | — | | — | | (80,287) | | — | | (17,851) | | 765,665 | | — | | — | | (993,110) | | — | | (227,445) |
| 12/31/2023 | | 127,097 | | — | | — | | (37,024) | | — | | 90,073 | | 1,359,796 | | — | | — | | (399,798) | | — | | 959,998 |
| Class S2 | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 59,255 | | — | | — | | (10,700) | | — | | 48,555 | | 726,251 | | — | | — | | (128,624) | | — | | 597,627 |
| 12/31/2023 | | 66,962 | | — | | — | | (15,310) | | — | | 51,652 | | 726,738 | | — | | — | | (161,471) | | — | | 565,267 |
| Class Z | | | | | | | | | | | | | | | | | | | | | | | | |
| 6/30/2024 | | 1,601,065 | | — | | — | | (257,169) | | — | | 1,343,896 | | 19,951,702 | | — | | — | | (3,187,578) | | — | | 16,764,124 |
| 12/31/2023 | | 2,954,455 | | — | | — | | (327,283) | | — | | 2,627,172 | | 31,853,464 | | — | | — | | (3,515,475) | | — | | 28,337,989 |
NOTE 10 — FEDERAL INCOME TAXES
The amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, futures contracts and wash sale deferrals.
Dividends paid by the Portfolios from net investment income and distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.
The tax composition of dividends and distributions to shareholders was as follows:
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 10 — FEDERAL INCOME TAXES (continued)
| | | Year Ended
December 31, 2023 | | Year Ended
December 31, 2022 | |
| | | Ordinary
Income | | Long-term
Capital Gains | | Ordinary
Income | | Long-term
Capital Gains | |
| Index Solution Income | | $ | 17,724,066 | | $ | 10,745,357 | | $ | 42,278,263 | | $ | 42,530,643 | |
| Index Solution 2025 | | | 24,745,512 | | | 35,116,825 | | | 29,671,435 | | | 100,280,980 | |
| Index Solution 2030 | | | 18,950,866 | | | 41,890,820 | | | 19,397,293 | | | 67,658,339 | |
| Index Solution 2035 | | | 27,884,363 | | | 84,352,997 | | | 25,939,909 | | | 123,623,291 | |
| Index Solution 2040 | | | 16,385,623 | | | 51,816,311 | | | 16,748,845 | | | 67,090,290 | |
| Index Solution 2045 | | | 20,534,661 | | | 79,771,884 | | | 21,504,790 | | | 106,591,347 | |
| Index Solution 2050 | | | 11,946,994 | | | 43,592,148 | | | 10,874,680 | | | 51,762,464 | |
| Index Solution 2055 | | | 13,078,303 | | | 42,669,924 | | | 12,710,761 | | | 54,218,109 | |
| Index Solution 2060 | | | 6,103,505 | | | 21,592,009 | | | 5,896,354 | | | 25,028,352 | |
| Index Solution 2065 | | | — | | | — | | | 697,368 | | | 2,048,929 | |
The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of December 31, 2023 were:
| | | Undistributed | | | Unrealized | | | | | | | | | Total | |
| | | Ordinary | | | Appreciation/ | | | Capital Loss Carryforwards | | | Distributable | |
| | | Income | | | (Depreciation) | | | Amount | | | Character | | | Earnings/(Loss) | |
| Index Solution Income | | $ | 18,529,687 | | | $ | 24,721,915 | | | $ | (1,180,767 | ) | | Short-term | | | $ | (43,141,900 | ) |
| | | | | | | | | | | | (85,212,735 | ) | | Long-term | | | | | |
| | | | | | | | | | | $ | (86,393,502 | ) | | | | | | | |
| Index Solution 2025 | | | 20,001,631 | | | | 70,939,151 | | | | (98,852,191 | ) | | Long-term | | | | (7,911,409 | ) |
| Index Solution 2030 | | | 13,655,809 | | | | 69,618,658 | | | | (2,050,971 | ) | | Short-term | | | | 6,648,190 | |
| | | | | | | | | | | | (74,575,306 | ) | | Long-term | | | | | |
| | | | | | | | | | | $ | (76,626,277 | ) | | | | | | | |
| Index Solution 2035 | | | 15,951,654 | | | | 136,445,535 | | | | (125,442,366 | ) | | Long-term | | | | 26,954,823 | |
| Index Solution 2040 | | | 6,489,204 | | | | 94,557,687 | | | | (1,567,267 | ) | | Short-term | | | | 30,297,618 | |
| | | | | | | | | | | | (69,182,006 | ) | | Long-term | | | | | |
| | | | | | | | | | | $ | (70,749,273 | ) | | | | | | | |
| Index Solution 2045 | | | 5,012,755 | | | | 133,100,146 | | | | (86,946,907 | ) | | Long-term | | | | 51,165,994 | |
| Index Solution 2050 | | | 2,360,397 | | | | 84,724,622 | | | | (51,890,224 | ) | | Long-term | | | | 35,194,795 | |
| Index Solution 2055 | | | 1,807,077 | | | | 87,475,307 | | | | (50,630,013 | ) | | Long-term | | | | 38,652,371 | |
| Index Solution 2060 | | | 1,107,471 | | | | 49,588,859 | | | | (3,065,159 | ) | | Short-term | | | | 18,809,219 | |
| | | | | | | | | | | | (28,821,952 | ) | | Long-term | | | | | |
| | | | | | | | | | | $ | (31,887,111 | ) | | | | | | | |
| Index Solution 2065 | | | 180,200 | | | | 9,432,590 | | | | (225,511 | ) | | Short-term | | | | 5,320,562 | |
| | | | | | | | | | | | (4,066,717 | ) | | Long-term | | | | | |
| | | | | | | | | | | $ | (4,292,228 | ) | | | | | | | |
The Portfolios’ major tax jurisdictions are U.S. federal and Arizona state.
As of June 30, 2024, no provision for income tax is required in the Portfolios’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 11 — LONDON INTERBANK OFFERED RATE (“LIBOR”)
The London Interbank Offered Rate (“LIBOR”) was the offered rate for short-term Eurodollar deposits between major international banks. The terms of investments, financings or other transactions (including certain derivatives transactions) to which the Portfolio may be a party have historically been tied to LIBOR. In connection with the global transition away from LIBOR led by regulators and market participants, LIBOR was last published on a representative basis at the end of June 2023. Alternative reference rates to LIBOR have been established in most major currencies and markets in these new rates are continuing to develop. The transition away from LIBOR to the use of replacement rates has gone relatively smoothly on the Portfolio and the financial instruments in which it invests; however, longer-term impacts are still uncertain.
In addition, interest rates or other types of rates and indices which are classed as “benchmarks” have been the subject of ongoing national and international regulatory reform, including under the European Union regulation on indices used as benchmarks in financial instruments and financial contracts (known as the “Benchmarks Regulation”). The Benchmarks Regulation has been enacted into United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended), subject to amendments made by the Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (SI 2019/657) and other statutory instruments. Following the implementation of these reforms, the manner of administration of benchmarks has changed and may further change in the future, with the result that relevant benchmarks may perform differently than in the past, the use of benchmarks that are not compliant with the new standards by certain supervised entities may be restricted, and certain benchmarks may be eliminated entirely. Such changes could cause increased market volatility and disruptions in liquidity for instruments that rely on or are impacted by such benchmarks. Additionally, there could be other consequences which cannot be predicted.
NOTE 12 — MARKET DISRUPTION AND GEOPOLITICAL RISK
A Portfolio is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing
interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby geographic regions. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have recently experienced financial difficulties and, in some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a Portfolio’s investments. Any of these occurrences could disrupt the operations of a Portfolio and of a Portfolio’s service providers.
NOTES TO FINANCIAL STATEMENTS as of June 30, 2024 (Unaudited) (continued)
NOTE 13 — SUBSEQUENT EVENTS
Dividends: Subsequent to June 30, 2024, the Portfolios declared dividends from net investment income of:
| | | Per Share | | Payable | | Record | | | | Per Share | | Payable | | Record |
| | | Amount | | Date | | Date | | | | Amount | | Date | | Date |
| Index Solution Income | | | | | | Index Solution 2045 | | | | |
| Class ADV | | $0.2445 | | August 5, 2024 | | August 1, 2024 | | Class ADV | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.2967 | | August 5, 2024 | | August 1, 2024 | | Class I | | $ | 0.0583 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.2716 | | August 5, 2024 | | August 1, 2024 | | Class S | | $ | 0.0253 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.2608 | | August 5, 2024 | | August 1, 2024 | | Class S2 | | $ | 0.0141 | | August 5, 2024 | | August 1, 2024 |
| Class Z | | $0.3029 | | August 5, 2024 | | August 1, 2024 | | Class Z | | $ | 0.0608 | | August 5, 2024 | | August 1, 2024 |
| Index Solution 2025 | | | | | | Index Solution 2050 | | | | |
| Class ADV | | $0.1637 | | August 5, 2024 | | August 1, 2024 | | Class ADV | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.2202 | | August 5, 2024 | | August 1, 2024 | | Class I | | $ | 0.0422 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1912 | | August 5, 2024 | | August 1, 2024 | | Class S | | $ | 0.0023 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1787 | | August 5, 2024 | | August 1, 2024 | | Class S2 | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class Z | | $0.2241 | | August 5, 2024 | | August 1, 2024 | | Class Z | | $ | 0.0592 | | August 5, 2024 | | August 1, 2024 |
| Index Solution 2030 | | | | | | Index Solution 2055 | | | | |
| Class ADV | | $0.1601 | | August 5, 2024 | | August 1, 2024 | | Class ADV | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.2355 | | August 5, 2024 | | August 1, 2024 | | Class I | | $ | 0.0329 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.1980 | | August 5, 2024 | | August 1, 2024 | | Class S | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.1861 | | August 5, 2024 | | August 1, 2024 | | Class S2 | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class Z | | $0.2445 | | August 5, 2024 | | August 1, 2024 | | Class Z | | $ | 0.0466 | | August 5, 2024 | | August 1, 2024 |
| Index Solution 2035 | | | | | | Index Solution 2060 | | | | |
| Class ADV | | $0.0701 | | August 5, 2024 | | August 1, 2024 | | Class ADV | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1285 | | August 5, 2024 | | August 1, 2024 | | Class I | | $ | 0.0242 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.0988 | | August 5, 2024 | | August 1, 2024 | | Class S | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.0880 | | August 5, 2024 | | August 1, 2024 | | Class S2 | | $ | - | | August 5, 2024 | | August 1, 2024 |
| Class Z | | $0.1309 | | August 5, 2024 | | August 1, 2024 | | Class Z | | $ | 0.0375 | | August 5, 2024 | | August 1, 2024 |
| Index Solution 2040 | | | | | | Index Solution 2065 | | | | |
| Class ADV | | $0.0338 | | August 5, 2024 | | August 1, 2024 | | Class ADV | | $ | 0.0189 | | August 5, 2024 | | August 1, 2024 |
| Class I | | $0.1169 | | August 5, 2024 | | August 1, 2024 | | Class I | | $ | 0.0189 | | August 5, 2024 | | August 1, 2024 |
| Class S | | $0.0774 | | August 5, 2024 | | August 1, 2024 | | Class S | | $ | 0.0189 | | August 5, 2024 | | August 1, 2024 |
| Class S2 | | $0.0577 | | August 5, 2024 | | August 1, 2024 | | Class S2 | | $ | 0.0189 | | August 5, 2024 | | August 1, 2024 |
| Class Z | | $0.1269 | | August 5, 2024 | | August 1, 2024 | | Class Z | | $ | 0.0189 | | August 5, 2024 | | August 1, 2024 |
| | | | | | | | | | | | | | | | |
The Portfolios have evaluated events occurring after the Statements of Assets and Liabilities date (“subsequent events”), to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.
| Voya Index Solution Income Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) |
| Shares | | | RA | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 56.8% |
| 1,244,518 | | | Schwab U.S. TIPS ETF | | $ | 64,727,381 | | | | 10.1 | |
| 227,399 | | | Vanguard Long-Term Treasury ETF | | | 13,116,374 | | | | 2.0 | |
| 258,902 | | | Vanguard Short-Term Corporate Bond ETF | | | 20,006,652 | | | | 3.1 | |
| 4,968,773 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 239,345,796 | | | | 37.4 | |
| 750,000 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 26,595,000 | | | | 4.2 | |
| | | | Total Exchange-Traded Funds
(Cost $374,305,374) | | | 363,791,203 | | | | 56.8 | |
| MUTUAL FUNDS: 43.0% |
| | | | Affiliated Investment Companies: 43.0% |
| 4,003,713 | | | Voya Short Term Bond Fund - Class R6 | | | 37,114,424 | | | | 5.8 | |
| 2,983,324 | | | Voya U.S. Bond Index Portfolio - Class I | | | 26,760,414 | | | | 4.2 | |
| 1,178,638 | | | Voya VACS Index Series EM Portfolio | | | 13,412,904 | | | | 2.1 | |
| 4,296,993 | | | Voya VACS Index Series I Portfolio | | | 48,126,326 | | | | 7.5 | |
| 2,218,212 | | | Voya VACS Index Series MC Portfolio | | | 25,021,428 | | | | 3.9 | |
| 9,126,838 (2) | | | Voya VACS Index Series S Portfolio | | | 124,946,409 | | | | 19.5 | |
| | | | Total Mutual Funds (Cost $236,579,268) | | | 275,381,905 | | | | 43.0 | |
| | | | | | | | | | | | |
| | | | Total Long-Term Investments
(Cost $610,884,642) | | | 639,173,108 | | | | 99.8 | |
| Shares | | | RA | | Value | | | Percentage
of Net
Assets |
| SHORT-TERM INVESTMENTS: 0.2% |
| | | | Mutual Funds: 0.2% |
| 1,456,756 (3) | | | BlackRock Liquidity Funds, FedFund, Institutional Class, 5.210% | | | 1,456,756 | | | | 0.2 | |
| | | | Total Short-Term Investments
(Cost $1,456,756) | | | 1,456,756 | | | | 0.2 | |
| | | | Total Investments in Securities
(Cost $612,341,398) | | $ | 640,629,864 | | | | 100.0 | |
| | | | Liabilities in Excess of Other Assets | | | (110,321 | ) | | | 0.0 | |
| | | | Net Assets | | $ | 640,519,543 | | | | 100.0 | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
| (3) | Rate shown is the 7-day yield as of June 30, 2024. |
See Accompanying Notes to Financial Statements
| Voya Index Solution Income Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 363,791,203 | | | $ | — | | | $ | — | | | $ | 363,791,203 | |
| Mutual Funds | | | 275,381,905 | | | | — | | | | — | | | | 275,381,905 | |
| Short-Term Investments | | | 1,456,756 | | | | — | | | | — | | | | 1,456,756 | |
| Total Investments, at fair value | | $ | 640,629,864 | | | $ | — | | | $ | — | | | $ | 640,629,864 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Short Term Bond Fund -Class R6 | | $ | 39,338,104 | | | $ | 4,532,989 | | | $ | (6,443,376 | ) | | $ | (313,293 | ) | | $ | 37,114,424 | | | $ | 896,188 | | | $ | 52,603 | | | $ | — | |
| Voya U.S. Bond Index Portfolio -Class I | | | 33,338,526 | | | | 36,952,992 | | | | (42,535,765 | ) | | | (995,339 | ) | | | 26,760,414 | | | | 644,820 | | | | 48,989 | | | | — | |
| Voya VACS Index Series EM Portfolio | | | 13,462,255 | | | | 991,671 | | | | (1,359,512 | ) | | | 318,490 | | | | 13,412,904 | | | | 488,819 | | | | 84,039 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 45,465,412 | | | | 7,064,971 | | | | (5,056,575 | ) | | | 652,518 | | | | 48,126,326 | | | | 1,217,336 | | | | 584,530 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 14,094,385 | | | | 13,787,869 | | | | (2,657,279 | ) | | | (203,547 | ) | | | 25,021,428 | | | | 217,749 | | | | 324,305 | | | | 76,190 | |
| Voya VACS Index Series S Portfolio | | | 144,475,192 | | | | 1,208,984 | | | | (31,310,425 | ) | | | 10,572,658 | | | | 124,946,409 | | | | — | | | | 8,504,957 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 7,139,133 | | | | 27,902 | | | | (6,255,483 | ) | | | (911,552 | ) | | | — | | | | — | | | | 1,000,466 | | | | — | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 254,314,417 | | | | — | | | | (8,652,349 | ) | | | (6,316,272 | ) | | | 239,345,796 | | | | 5,372,750 | | | | (342,727 | ) | | | — | |
| | | $ | 551,627,424 | | | $ | 64,567,378 | | | $ | (104,270,764 | ) | | $ | 2,803,663 | | | $ | 514,727,701 | | | $ | 8,837,662 | | | $ | 10,257,162 | | | $ | 76,190 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $613,695,414. | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 38,043,374 | |
| Gross Unrealized Depreciation | | | (11,108,925 | ) |
| Net Unrealized Appreciation | | $ | 26,934,449 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2025 Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) |
| Shares | | | RA | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 45.2% |
| 1,404,700 | | | Schwab U.S. TIPS ETF | | $ | 73,058,447 | | | | 7.0 | |
| 367,419 | | | Vanguard Long-Term Treasury ETF | | | 21,192,728 | | | | 2.0 | |
| 404,380 | | | Vanguard Short-Term Corporate Bond ETF | | | 31,248,465 | | | | 3.0 | |
| 6,674,664 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 321,518,565 | | | | 30.7 | |
| 735,338 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 26,075,085 | | | | 2.5 | |
| | | | Total Exchange-Traded Funds
(Cost $483,409,462) | | | 473,093,290 | | | | 45.2 | |
| MUTUAL FUNDS: 54.6% |
| | | | Affiliated Investment Companies: 54.6% |
| 844,116 | | | Voya Short Term Bond Fund - Class R6 | | | 7,824,958 | | | | 0.7 | |
| 6,502,226 | | | Voya U.S. Bond Index Portfolio - Class I | | | 58,324,966 | | | | 5.6 | |
| 1,847,326 | | | Voya VACS Index Series EM Portfolio | | | 21,022,570 | | | | 2.0 | |
| 10,666,510 | | | Voya VACS Index Series I Portfolio | | | 119,464,913 | | | | 11.4 | |
| 4,330,825 | | | Voya VACS Index Series MC Portfolio | | | 48,851,703 | | | | 4.7 | |
| 21,973,622 (2) | | | Voya VACS Index Series S Portfolio | | | 300,818,882 | | | | 28.7 | |
| 1,408,734 | | | Voya VACS Index Series SC Portfolio | | | 15,270,674 | | | | 1.5 | |
| | | | Total Mutual Funds
(Cost $476,561,629) | | | 571,578,666 | | | | 54.6 | |
| | | | Total Long-Term Investments
(Cost $959,971,091) | | | 1,044,671,956 | | | | 99.8 | |
| | | | Total Investments in Securities
(Cost $959,971,091) | | $ | 1,044,671,956 | | | | 99.8 | |
| | | | Assets in Excess of Other Liabilities | | | 2,366,044 | | | | 0.2 | |
| | | | Net Assets | | $ | 1,047,038,000 | | | | 100.0 | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2025 Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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
June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 473,093,290 | | | $ | — | | | $ | — | | | $ | 473,093,290 | |
| Mutual Funds | | | 571,578,666 | | | | — | | | | — | | | | 571,578,666 | |
| Total Investments, at fair value | | $ | 1,044,671,956 | | | $ | — | | | $ | — | | | $ | 1,044,671,956 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
| Issuer | | Beginning
Fair Value
at 12/31/2023 | | | Purchases
at Cost | | | Sales
at Cost | | | Change In
Unrealized
Appreciation/
(Depreciation) | | | Ending
Fair
Value at
6/30/2024 | | | Investment
Income | | | Realized
Gains/
(Losses) | | | Net
Capital
Gain
Distributions | |
| Voya Short Term Bond Fund -Class R6 | | $ | — | | | $ | 7,980,976 | | | $ | (170,147 | ) | | $ | 14,129 | | | $ | 7,824,958 | | | $ | 41,717 | | | $ | (403 | ) | | $ | — | |
| Voya U.S. Bond Index Portfolio -Class I | | | 66,233,658 | | | | 50,716,776 | | | | (57,594,651 | ) | | | (1,030,817 | ) | | | 58,324,966 | | | | 1,198,559 | | | | (803,770 | ) | | | — | |
| Voya VACS Index Series EM Portfolio | | | 32,410,034 | | | | 1,730,573 | | | | (12,919,448 | ) | | | (198,589 | ) | | | 21,022,570 | | | | 777,289 | | | | 357,985 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 138,961,641 | | | | 4,547,915 | | | | (24,852,568 | ) | | | 807,925 | | | | 119,464,913 | | | | 3,107,828 | | | | 3,068,984 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 33,641,966 | | | | 23,163,922 | | | | (7,609,553 | ) | | | (344,632 | ) | | | 48,851,703 | | | | 433,932 | | | | 927,148 | | | | 151,831 | |
| Voya VACS Index Series S Portfolio | | | 352,444,133 | | | | 13,286,618 | | | | (87,753,693 | ) | | | 22,841,824 | | | | 300,818,882 | | | | — | | | | 24,351,799 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 22,929,646 | | | | 1,185,307 | | | | (7,823,626 | ) | | | (1,020,653 | ) | | | 15,270,674 | | | | 358,359 | | | | 652,813 | | | | 184,449 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 304,738,145 | | | | 30,423,476 | | | | (5,768,200 | ) | | | (7,874,856 | ) | | | 321,518,565 | | | | 6,951,625 | | | | (237,804 | ) | | | — | |
| | | $ | 951,359,223 | | | $ | 133,035,563 | | | $ | (204,491,886 | ) | | $ | 13,194,331 | | | $ | 893,097,231 | | | $ | 12,869,309 | | | $ | 28,316,752 | | | $ | 336,280 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $961,338,542. | |
| Net unrealized appreciation consisted of: | | | |
| Gross Unrealized Appreciation | | $ | 95,392,455 | |
| Gross Unrealized Depreciation | | | (12,059,041 | ) |
| Net Unrealized Appreciation | | $ | 83,333,414 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2030 Portfolio | PORTFOLIO OF INVESTMENTS
as of June 30, 2024 (Unaudited) |
| Shares | | | RA | | Value | | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 33.2% |
| 537,862 | | | Schwab U.S. TIPS ETF | | $ | 27,974,203 | | | | 2.9 | |
| 320,887 | | | Vanguard Long-Term Treasury ETF | | | 18,508,762 | | | | 1.9 | |
| 240,462 | | | Vanguard Short-Term Corporate Bond ETF | | | 18,581,701 | | | | 2.0 | |
| 4,798,551 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 231,146,202 | | | | 24.4 | |
| 522,436 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 18,525,580 | | | | 2.0 | |
| | | | Total Exchange-Traded Funds
(Cost $320,987,586) | | | 314,736,448 | | | | 33.2 | |
| MUTUAL FUNDS: 66.5% |
| | | | Affiliated Investment Companies: 66.5% |
| 4,649,466 | | | Voya U.S. Bond Index Portfolio - Class I | | | 41,705,710 | | | | 4.4 | |
| 1,723,798 | | | Voya VACS Index Series EM Portfolio | | | 19,616,821 | | | | 2.1 | |
| 12,975,091 | | | Voya VACS Index Series I Portfolio | | | 145,321,017 | | | | 15.4 | |
| 4,892,959 | | | Voya VACS Index Series MC Portfolio | | | 55,192,578 | | | | 5.8 | |
| 24,825,194 (2) | | | Voya VACS Index Series S Portfolio | | | 339,856,910 | | | | 35.9 | |
| 2,552,078 | | | Voya VACS Index Series SC Portfolio | | | 27,664,520 | | | | 2.9 | |
| | | | Total Mutual Funds
(Cost $524,211,728) | | | 629,357,556 | | | | 66.5 | |
| | | | Total Long-Term Investments
(Cost $845,199,314) | | | 944,094,004 | | | | 99.7 | |
| | | | Total Investments in Securities
(Cost $845,199,314) | | $ | 944,094,004 | | | | 99.7 | |
| | | | Assets in Excess of Other Liabilities | | | 3,200,737 | | | | 0.3 | |
| | | | Net Assets | | $ | 947,294,741 | | | | 100.0 | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2030 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 314,736,448 | | | $ | — | | | $ | — | | | $ | 314,736,448 | |
| Mutual Funds | | | 629,357,556 | | | | — | | | | — | | | | 629,357,556 | |
| Total Investments, at fair value | | $ | 944,094,004 | | | $ | — | | | $ | — | | | $ | 944,094,004 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 52,158,163 | | | $ | 13,919,307 | | | $ | (23,489,367 | ) | | $ | (882,393 | ) | | $ | 41,705,710 | | | $ | 932,832 | | | $ | (600,492 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 36,255,329 | | | | 1,886,299 | | | | (18,030,594 | ) | | | (494,213 | ) | | | 19,616,821 | | | | 698,753 | | | | 677,851 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 143,121,433 | | | | 7,549,990 | | | | (8,271,239 | ) | | | 2,920,833 | | | | 145,321,017 | | | | 3,590,729 | | | | 961,420 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 37,468,258 | | | | 20,832,342 | | | | (3,496,474 | ) | | | 388,452 | | | | 55,192,578 | | | | 468,808 | | | | 410,732 | | | | 164,034 | |
| Voya VACS Index Series S Portfolio | | | 310,592,553 | | | | 34,791,387 | | | | (41,196,930 | ) | | | 35,669,900 | | | | 339,856,910 | | | | — | | | | 11,245,440 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 47,913,975 | | | | 2,061,009 | | | | (19,883,730 | ) | | | (2,426,734 | ) | | | 27,664,520 | | | | 557,126 | | | | 1,238,047 | | | | 286,756 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 222,547,347 | | | | 14,540,125 | | | | — | | | | (5,941,270 | ) | | | 231,146,202 | | | | 5,016,089 | | | | — | | | | — | |
| | | $ | 850,057,058 | | | $ | 95,580,459 | | | $ | (114,368,334 | ) | | $ | 29,234,575 | | | $ | 860,503,758 | | | $ | 11,264,337 | | | $ | 13,932,998 | | | $ | 450,790 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $846,458,700. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 105,193,053 | |
| Gross Unrealized Depreciation | | | (7,557,749 | ) |
| Net Unrealized Appreciation | | $ | 97,635,304 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2035 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 20.4% | |
| 530,721 | | | Vanguard Long-Term Treasury ETF | | $ | 30,611,987 | | | | 1.9 | | |
| 5,402,401 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 260,233,656 | | | | 16.5 | | |
| 863,638 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 30,624,604 | | | | 2.0 | | |
| | | | Total Exchange-Traded Funds
(Cost $327,712,675) | | | 321,470,247 | | | | 20.4 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 79.4% | |
| | | | Affiliated Investment Companies: 79.4% | |
| 11,405,261 | | | Voya U.S. Bond Index Portfolio - Class I | | | 102,305,192 | | | | 6.5 | | |
| 4,277,491 | | | Voya VACS Index Series EM Portfolio | | | 48,677,845 | | | | 3.1 | | |
| 25,630,281 | | | Voya VACS Index Series I Portfolio | | | 287,059,151 | | | | 18.2 | | |
| 8,105,772 | | | Voya VACS Index Series MC Portfolio | | | 91,433,113 | | | | 5.8 | | |
| 49,416,220 (2) | | | Voya VACS Index Series S Portfolio | | | 676,508,046 | | | | 42.9 | | |
| 4,201,361 | | | Voya VACS Index Series SC Portfolio | | | 45,542,754 | | | | 2.9 | | |
| | | | Total Mutual Funds (Cost $1,041,570,647) | | | 1,251,526,101 | | | | 79.4 | | |
| | | | Total Long-Term Investments
(Cost $1,369,283,322) | | | 1,572,996,348 | | | | 99.8 | | |
| | | | Total Investments in Securities (Cost $1,369,283,322) | | $ | 1,572,996,348 | | | | 99.8 | | |
| | | | Assets in Excess of Other Liabilities | | | 3,514,359 | | | | 0.2 | | |
| | | | Net Assets | | $ | 1,576,510,707 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2035 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 321,470,247 | | | $ | — | | | $ | — | | | $ | 321,470,247 | |
| Mutual Funds | | | 1,251,526,101 | | | | — | | | | — | | | | 1,251,526,101 | |
| Total Investments, at fair value | | $ | 1,572,996,348 | | | $ | — | | | $ | — | | | $ | 1,572,996,348 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized
Gains/
(Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 81,446,803 | | | $ | 43,997,184 | | | $ | (21,416,798 | ) | | $ | (1,721,997 | ) | | $ | 102,305,192 | | | $ | 1,929,532 | | | $ | (717,140 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 74,204,147 | | | | 4,279,205 | | | | (29,423,908 | ) | | | (381,599 | ) | | | 48,677,845 | | | | 1,739,412 | | | | 1,217,310 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 279,469,741 | | | | 14,243,888 | | | | (12,761,263 | ) | | | 6,106,785 | | | | 287,059,151 | | | | 7,117,110 | | | | 1,498,212 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 61,327,936 | | | | 34,370,650 | | | | (4,983,537 | ) | | | 718,064 | | | | 91,433,113 | | | | 779,293 | | | | 582,369 | | | | 272,672 | |
| Voya VACS Index Series S Portfolio | | | 613,015,712 | | | | 57,945,846 | | | | (68,453,571 | ) | | | 74,000,059 | | | | 676,508,046 | | | | — | | | | 18,942,707 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 78,508,962 | | | | 3,513,361 | | | | (32,496,576 | ) | | | (3,982,993 | ) | | | 45,542,754 | | | | 920,348 | | | | 2,014,759 | | | | 473,708 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 252,224,782 | | | | 14,764,930 | | | | — | | | | (6,756,056 | ) | | | 260,233,656 | | | | 5,676,161 | | | | — | | | | — | |
| | | $ | 1,440,198,083 | | | $ | 173,115,064 | | | $ | (169,535,653 | ) | | $ | 67,982,263 | | | $ | 1,511,759,757 | | | $ | 18,161,856 | | | $ | 23,538,217 | | | $ | 746,380 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $1,370,524,245. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 211,238,416 | |
| Gross Unrealized Depreciation | | | (8,766,312 | ) |
| Net Unrealized Appreciation | | $ | 202,472,104 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2040 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 12.9% | |
| 323,518 | | | Vanguard Long-Term Treasury ETF | | $ | 18,660,518 | | | | 1.9 | | |
| 1,857,269 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 89,464,648 | | | | 9.1 | | |
| 533,508 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 18,918,193 | | | | 1.9 | | |
| | | | Total Exchange-Traded Funds
(Cost $128,159,320) | | | 127,043,359 | | | | 12.9 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 86.8% | |
| | | | Affiliated Investment Companies: 86.8% | |
| 3,587,863 | | | Voya U.S. Bond Index Portfolio - Class I | | | 32,183,130 | | | | 3.3 | | |
| 3,547,703 | | | Voya VACS Index Series EM Portfolio | | | 40,372,863 | | | | 4.1 | | |
| 18,551,800 | | | Voya VACS Index Series I Portfolio | | | 207,780,155 | | | | 21.1 | | |
| 5,898,070 | | | Voya VACS Index Series MC Portfolio | | | 66,530,234 | | | | 6.7 | | |
| 34,482,128 (2) | | | Voya VACS Index Series S Portfolio | | | 472,060,335 | | | | 47.8 | | |
| 3,489,611 | | | Voya VACS Index Series SC Portfolio | | | 37,827,384 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $709,289,136) | | | 856,754,101 | | | | 86.8 | | |
| | | | Total Long-Term Investments
(Cost $837,448,456) | | | 983,797,460 | | | | 99.7 | | |
| | | | Total Investments in Securities (Cost $837,448,456) | | $ | 983,797,460 | | | | 99.7 | | |
| | | | Assets in Excess of Other Liabilities | | | 2,803,380 | | | | 0.3 | | |
| | | | Net Assets | | $ | 986,600,840 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2040 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 127,043,359 | | | $ | — | | | $ | — | | | $ | 127,043,359 | |
| Mutual Funds | | | 856,754,101 | | | | — | | | | — | | | | 856,754,101 | |
| Total Investments, at fair value | | $ | 983,797,460 | | | $ | — | | | $ | — | | | $ | 983,797,460 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 31,987,480 | | | $ | 9,548,763 | | | $ | (8,787,621 | ) | | $ | (565,492 | ) | | $ | 32,183,130 | | | $ | 641,063 | | | $ | (352,213 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 45,365,230 | | | | 3,731,963 | | | | (9,322,232 | ) | | | 597,902 | | | | 40,372,863 | | | | 1,431,550 | | | | 257,119 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 198,333,659 | | | | 14,425,361 | | | | (9,308,940 | ) | | | 4,330,075 | | | | 207,780,155 | | | | 5,111,525 | | | | 1,064,550 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 46,578,635 | | | | 22,354,548 | | | | (3,156,354 | ) | | | 753,405 | | | | 66,530,234 | | | | 562,494 | | | | 377,434 | | | | 196,815 | |
| Voya VACS Index Series S Portfolio | | | 420,784,014 | | | | 41,915,298 | | | | (42,924,654 | ) | | | 52,285,677 | | | | 472,060,335 | | | | — | | | | 11,869,539 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 57,257,645 | | | | 3,547,182 | | | | (20,344,436 | ) | | | (2,633,007 | ) | | | 37,827,384 | | | | 758,299 | | | | 1,271,719 | | | | 390,301 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 85,085,988 | | | | 6,660,038 | | | | — | | | | (2,281,378 | ) | | | 89,464,648 | | | | 1,935,599 | | | | — | | | | — | |
| | | $ | 885,392,651 | | | $ | 102,183,153 | | | $ | (93,844,237 | ) | | $ | 52,487,182 | | | $ | 946,218,749 | | | $ | 10,440,530 | | | $ | 14,488,148 | | | $ | 587,116 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $837,963,531. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 148,140,613 | |
| Gross Unrealized Depreciation | | | (2,306,683 | ) |
| Net Unrealized Appreciation | | $ | 145,833,930 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2045 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 8.5% | |
| 420,928 | | | Vanguard Long-Term Treasury ETF | | $ | 24,279,127 | | | | 1.9 | | |
| 1,271,835 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 61,264,292 | | | | 4.7 | | |
| 694,146 | | | Xtrackers USD High Yield Corporate Bond ETF | | | 24,614,417 | | | | 1.9 | | |
| | | | Total Exchange-Traded Funds
(Cost $110,109,864) | | | 110,157,836 | | | | 8.5 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 91.3% | |
| | | | Affiliated Investment Companies: 91.3% | |
| 1,286,041 | | | Voya U.S. Bond Index Portfolio - Class I | | | 11,535,784 | | | | 0.9 | | |
| 5,774,891 | | | Voya VACS Index Series EM Portfolio | | | 65,718,261 | | | | 5.1 | | |
| 26,408,938 | | | Voya VACS Index Series I Portfolio | | | 295,780,102 | | | | 23.0 | | |
| 7,685,209 | | | Voya VACS Index Series MC Portfolio | | | 86,689,153 | | | | 6.7 | | |
| 48,761,712 (2) | | | Voya VACS Index Series S Portfolio | | | 667,547,839 | | | | 51.8 | | |
| 4,545,148 | | | Voya VACS Index Series SC Portfolio | | | 49,269,405 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $965,834,204) | | | 1,176,540,544 | | | | 91.3 | | |
| | | | Total Long-Term Investments
(Cost $1,075,944,068) | | | 1,286,698,380 | | | | 99.8 | | |
| | | | Total Investments in Securities (Cost $1,075,944,068) | | $ | 1,286,698,380 | | | | 99.8 | | |
| | | | Assets in Excess of Other Liabilities | | | 2,589,455 | | | | 0.2 | | |
| | | | Net Assets | | $ | 1,289,287,835 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2045 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 110,157,836 | | | $ | — | | | $ | — | | | $ | 110,157,836 | |
| Mutual Funds | | | 1,176,540,544 | | | | — | | | | — | | | | 1,176,540,544 | |
| Total Investments, at fair value | | $ | 1,286,698,380 | | | $ | — | | | $ | — | | | $ | 1,286,698,380 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 11,605,155 | | | $ | 5,945,187 | | | $ | (5,700,464 | ) | | $ | (314,094 | ) | | $ | 11,535,784 | | | $ | 230,511 | | | $ | (18,461 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 70,445,059 | | | | 5,765,045 | | | | (11,671,067 | ) | | | 1,179,224 | | | | 65,718,261 | | | | 2,333,141 | | | | 344,131 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 279,632,839 | | | | 21,875,729 | | | | (11,969,435 | ) | | | 6,240,969 | | | | 295,780,102 | | | | 7,285,272 | | | | 1,383,272 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 60,124,095 | | | | 28,926,476 | | | | (3,402,282 | ) | | | 1,040,864 | | | | 86,689,153 | | | | 733,873 | | | | 415,631 | | | | 256,779 | |
| Voya VACS Index Series S Portfolio | | | 591,793,263 | | | | 53,625,210 | | | | (53,343,472 | ) | | | 75,472,838 | | | | 667,547,839 | | | | — | | | | 14,705,110 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 74,243,921 | | | | 4,685,135 | | | | (26,244,005 | ) | | | (3,415,646 | ) | | | 49,269,405 | | | | 988,869 | | | | 1,642,823 | | | | 508,977 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 57,033,117 | | | | 5,780,182 | | | | — | | | | (1,549,007 | ) | | | 61,264,292 | | | | 1,323,308 | | | | — | | | | — | |
| | | $ | 1,144,877,449 | | | $ | 126,602,964 | | | $ | (112,330,725 | ) | | $ | 78,655,148 | | | $ | 1,237,804,836 | | | $ | 12,894,974 | | | $ | 18,472,506 | | | $ | 765,756 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $1,076,609,441. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 211,721,554 | |
| Gross Unrealized Depreciation | | | (1,632,616 | ) |
| Net Unrealized Appreciation | | $ | 210,088,938 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2050 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 5.6% | |
| 265,872 | | | Vanguard Long-Term Treasury ETF | | $ | 15,335,497 | | | | 1.9 | | |
| 642,666 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 30,957,221 | | | | 3.7 | | |
| | | | Total Exchange-Traded Funds (Cost $46,650,726) | | | 46,292,718 | | | | 5.6 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 94.2% | |
| | | | Affiliated Investment Companies: 94.2% | |
| 915,440 | | | Voya U.S. Bond Index Portfolio - Class I | | | 8,211,498 | | | | 1.0 | | |
| 3,695,605 | | | Voya VACS Index Series EM Portfolio | | | 42,055,984 | | | | 5.1 | | |
| 16,902,032 | | | Voya VACS Index Series I Portfolio | | | 189,302,755 | | | | 22.9 | | |
| 5,623,510 | | | Voya VACS Index Series MC Portfolio | | | 63,433,193 | | | | 7.7 | | |
| 32,442,474 (2) | | | Voya VACS Index Series S Portfolio | | | 444,137,473 | | | | 53.7 | | |
| 2,909,600 | | | Voya VACS Index Series SC Portfolio | | | 31,540,066 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $640,746,983) | | | 778,680,969 | | | | 94.2 | | |
| | | | Total Long-Term Investments (Cost $687,397,709) | | | 824,973,687 | | | | 99.8 | | |
| | | | Total Investments in Securities (Cost $687,397,709) | | $ | 824,973,687 | | | | 99.8 | | |
| | | | Assets in Excess of Other Liabilities | | | 1,252,060 | | | | 0.2 | | |
| | | | Net Assets | | $ | 826,225,747 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2050 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 46,292,718 | | | $ | — | | | $ | — | | | $ | 46,292,718 | |
| Mutual Funds | | | 778,680,969 | | | | — | | | | — | | | | 778,680,969 | |
| Total Investments, at fair value | | $ | 824,973,687 | | | $ | — | | | $ | — | | | $ | 824,973,687 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 7,355,278 | | | $ | 3,054,099 | | | $ | (1,991,093 | ) | | $ | (206,786 | ) | | $ | 8,211,498 | | | $ | 155,153 | | | $ | (9,796 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 43,772,573 | | | | 4,374,367 | | | | (6,887,673 | ) | | | 796,717 | | | | 42,055,984 | | | | 1,486,070 | | | | 188,158 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 175,048,103 | | | | 16,131,037 | | | | (5,955,330 | ) | | | 4,078,945 | | | | 189,302,755 | | | | 4,640,184 | | | | 695,106 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 45,033,302 | | | | 19,391,144 | | | | (1,936,662 | ) | | | 945,409 | | | | 63,433,193 | | | | 534,344 | | | | 238,262 | | | | 186,965 | |
| Voya VACS Index Series S Portfolio | | | 384,643,874 | | | | 38,945,524 | | | | (30,361,096 | ) | | | 50,909,171 | | | | 444,137,473 | | | | — | | | | 8,499,042 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 47,196,139 | | | | 3,430,156 | | | | (16,891,834 | ) | | | (2,194,395 | ) | | | 31,540,066 | | | | 629,867 | | | | 1,051,515 | | | | 324,196 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 27,931,397 | | | | 3,798,192 | | | | — | | | | (772,368 | ) | | | 30,957,221 | | | | 666,703 | | | | — | | | | — | |
| | | $ | 730,980,666 | | | $ | 89,124,519 | | | $ | (64,023,688 | ) | | $ | 53,556,693 | | | $ | 809,638,190 | | | $ | 8,112,321 | | | $ | 10,662,287 | | | $ | 511,161 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $687,696,863. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 138,054,596 | |
| Gross Unrealized Depreciation | | | (777,771 | ) |
| Net Unrealized Appreciation | | $ | 137,276,825 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2055 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 4.7% | |
| 271,733 | | | Vanguard Long-Term Treasury ETF | | $ | 15,673,560 | | | | 1.9 | | |
| 492,625 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 23,729,746 | | | | 2.8 | | |
| | | | Total Exchange-Traded Funds
(Cost $39,661,301) | | | 39,403,306 | | | | 4.7 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 95.2% | |
| | | | Affiliated Investment Companies: 95.2% | |
| 942,369 | | | Voya U.S. Bond Index Portfolio - Class I | | | 8,453,049 | | | | 1.0 | | |
| 3,788,252 | | | Voya VACS Index Series EM Portfolio | | | 43,110,303 | | | | 5.1 | | |
| 17,314,067 | | | Voya VACS Index Series I Portfolio | | | 193,917,547 | | | | 22.9 | | |
| 5,760,646 | | | Voya VACS Index Series MC Portfolio | | | 64,980,090 | | | | 7.7 | | |
| 33,861,766 (2) | | | Voya VACS Index Series S Portfolio | | | 463,567,582 | | | | 54.7 | | |
| 2,980,579 | | | Voya VACS Index Series SC Portfolio | | | 32,309,480 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $663,070,938) | | | 806,338,051 | | | | 95.2 | | |
| | | | Total Long-Term Investments
(Cost $702,732,239) | | | 845,741,357 | | | | 99.9 | | |
| | | | Total Investments in Securities (Cost $702,732,239) | | $ | 845,741,357 | | | | 99.9 | | |
| | | | Assets in Excess of Other Liabilities | | | 1,085,470 | | | | 0.1 | | |
| | | | Net Assets | | $ | 846,826,827 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2055 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 39,403,306 | | | $ | — | | | $ | — | | | $ | 39,403,306 | |
| Mutual Funds | | | 806,338,051 | | | | — | | | | — | | | | 806,338,051 | |
| Total Investments, at fair value | | $ | 845,741,357 | | | $ | — | | | $ | — | | | $ | 845,741,357 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 7,642,412 | | | $ | 3,023,067 | | | $ | (1,998,388 | ) | | $ | (214,042 | ) | | $ | 8,453,049 | | | $ | 158,635 | | | $ | (4,838 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 52,800,702 | | | | 4,487,031 | | | | (14,556,101 | ) | | | 378,671 | | | | 43,110,303 | | | | 1,524,936 | | | | 615,003 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 179,837,491 | | | | 16,639,961 | | | | (6,696,130 | ) | | | 4,136,225 | | | | 193,917,547 | | | | 4,758,362 | | | | 727,833 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 46,355,022 | | | | 19,770,855 | | | | (2,105,274 | ) | | | 959,487 | | | | 64,980,090 | | | | 547,978 | | | | 240,988 | | | | 191,735 | |
| Voya VACS Index Series S Portfolio | | | 395,181,288 | | | | 41,748,079 | | | | (27,253,681 | ) | | | 53,891,896 | | | | 463,567,582 | | | | — | | | | 7,490,335 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 47,890,692 | | | | 3,527,420 | | | | (16,901,320 | ) | | | (2,207,312 | ) | | | 32,309,480 | | | | 645,955 | | | | 1,048,096 | | | | 332,477 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 21,649,285 | | | | 2,675,917 | | | | — | | | | (595,456 | ) | | | 23,729,746 | | | | 511,898 | | | | — | | | | — | |
| | | $ | 751,356,892 | | | $ | 91,872,330 | | | $ | (69,510,894 | ) | | $ | 56,349,469 | | | $ | 830,067,797 | | | $ | 8,147,764 | | | $ | 10,117,417 | | | $ | 524,212 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $702,938,727. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 143,495,512 | |
| Gross Unrealized Depreciation | | | (692,882 | ) |
| Net Unrealized Appreciation | | $ | 142,802,630 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2060 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 4.6% | |
| 158,852 | | | Vanguard Long-Term Treasury ETF | | $ | 9,162,583 | | | | 1.8 | | |
| 287,984 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 13,872,189 | | | | 2.8 | | |
| | | | | | | | | | | | | |
| | | | Total Exchange-Traded Funds
(Cost $23,105,115) | | | 23,034,772 | | | | 4.6 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 95.3% | |
| | | | Affiliated Investment Companies: 95.3% | |
| 619,566 | | | Voya U.S. Bond Index Portfolio - Class I | | | 5,557,509 | | | | 1.1 | | |
| 2,260,955 | | | Voya VACS Index Series EM Portfolio | | | 25,729,663 | | | | 5.1 | | |
| 10,335,609 | | | Voya VACS Index Series I Portfolio | | | 115,758,825 | | | | 22.9 | | |
| 3,439,581 | | | Voya VACS Index Series MC Portfolio | | | 38,798,477 | | | | 7.7 | | |
| 20,214,151 (2) | | | Voya VACS Index Series S Portfolio | | | 276,731,725 | | | | 54.7 | | |
| 1,780,176 | | | Voya VACS Index Series SC Portfolio | | | 19,297,103 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $399,185,982) | | | 481,873,302 | | | | 95.3 | | |
| | | | Total Long-Term Investments
(Cost $422,291,097) | | | 504,908,074 | | | | 99.9 | | |
| | | | Total Investments in Securities (Cost $422,291,097) | | $ | 504,908,074 | | | | 99.9 | | |
| | | | Assets in Excess of Other Liabilities | | | 691,063 | | | | 0.1 | | |
| | | | Net Assets | | $ | 505,599,137 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2060 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 23,034,772 | | | $ | — | | | $ | — | | | $ | 23,034,772 | |
| Mutual Funds | | | 481,873,302 | | | | — | | | | — | | | | 481,873,302 | |
| Total Investments, at fair value | | $ | 504,908,074 | | | $ | — | | | $ | — | | | $ | 504,908,074 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 4,568,859 | | | $ | 2,309,576 | | | $ | (1,190,437 | ) | | $ | (130,489 | ) | | $ | 5,557,509 | | | $ | 98,968 | | | $ | (557 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 30,294,898 | | | | 3,518,307 | | | | (8,326,843 | ) | | | 243,301 | | | | 25,729,663 | | | | 904,263 | | | | 358,495 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 103,459,162 | | | | 13,159,914 | | | | (3,318,777 | ) | | | 2,458,526 | | | | 115,758,825 | | | | 2,821,849 | | | | 367,927 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 26,665,442 | | | | 12,629,195 | | | | (1,067,885 | ) | | | 571,725 | | | | 38,798,477 | | | | 324,984 | | | | 126,509 | | | | 113,711 | |
| Voya VACS Index Series S Portfolio | | | 227,275,242 | | | | 32,139,158 | | | | (14,684,785 | ) | | | 32,002,110 | | | | 276,731,725 | | | | — | | | | 4,144,059 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 27,954,483 | | | | 2,706,033 | | | | (10,058,005 | ) | | | (1,305,408 | ) | | | 19,297,103 | | | | 383,167 | | | | 623,326 | | | | 197,218 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 12,163,599 | | | | 2,050,616 | | | | — | | | | (342,026 | ) | | | 13,872,189 | | | | 297,989 | | | | — | | | | — | |
| | | $ | 432,381,685 | | | $ | 68,512,799 | | | $ | (38,646,732 | ) | | $ | 33,497,739 | | | $ | 495,745,491 | | | $ | 4,831,220 | | | $ | 5,619,759 | | | $ | 310,929 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $422,398,428. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 82,837,797 | |
| Gross Unrealized Depreciation | | | (328,150 | ) |
| Net Unrealized Appreciation | | $ | 82,509,647 | |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2065 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) |
| Shares | | | | | Value | | | Percentage of Net Assets | |
| EXCHANGE-TRADED FUNDS: 3.3% | |
| 34,395 | | | Vanguard Long-Term Treasury ETF | | $ | 1,983,904 | | | | 1.6 | | |
| 41,570 (1) | | | WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 2,002,427 | | | | 1.7 | | |
| | | | Total Exchange-Traded Funds
(Cost $4,000,024) | | | 3,986,331 | | | | 3.3 | | |
| | | | | | | | | | | | | |
| MUTUAL FUNDS: 96.6% | |
| | | | Affiliated Investment Companies: 96.6% | |
| 191,065 | | | Voya U.S. Bond Index Portfolio - Class I | | | 1,713,856 | | | | 1.4 | | |
| 538,222 | | | Voya VACS Index Series EM Portfolio | | | 6,124,970 | | | | 5.1 | | |
| 2,568,306 | | | Voya VACS Index Series I Portfolio | | | 28,765,022 | | | | 23.9 | | |
| 820,585 | | | Voya VACS Index Series MC Portfolio | | | 9,256,202 | | | | 7.7 | | |
| 4,817,016 (2) | | | Voya VACS Index Series S Portfolio | | | 65,944,949 | | | | 54.7 | | |
| 425,043 | | | Voya VACS Index Series SC Portfolio | | | 4,607,464 | | | | 3.8 | | |
| | | | Total Mutual Funds (Cost $99,509,094) | | | 116,412,463 | | | | 96.6 | | |
| | | | Total Long-Term Investments
(Cost $103,509,118) | | | 120,398,794 | | | | 99.9 | | |
| | | | Total Investments in Securities (Cost $103,509,118) | | $ | 120,398,794 | | | | 99.9 | | |
| | | | Assets in Excess of Other Liabilities | | | 124,656 | | | | 0.1 | | |
| | | | Net Assets | | $ | 120,523,450 | | | | 100.0 | | |
| (1) | Investment in affiliate. |
| (2) | Non-income producing security. |
See Accompanying Notes to Financial Statements
| Voya Index Solution 2065 Portfolio | PORTFOLIO OF INVESTMENTS as of June 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of June 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 June 30, 2024 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 3,986,331 | | | $ | — | | | $ | — | | | $ | 3,986,331 | |
| Mutual Funds | | | 116,412,463 | | | | — | | | | — | | | | 116,412,463 | |
| Total Investments, at fair value | | $ | 120,398,794 | | | $ | — | | | $ | — | | | $ | 120,398,794 | |
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.
The following table provides transactions during the period ended June 30, 2024, where the following issuers were considered an affiliate:
Issuer | | Beginning Fair Value at 12/31/2023 | | | Purchases at Cost | | | Sales at Cost | | | Change In Unrealized Appreciation/ (Depreciation) | | | Ending Fair Value at 6/30/2024 | | | Investment Income | | | Realized Gains/ (Losses) | | | Net Capital Gain Distributions | |
| Voya U.S. Bond Index Portfolio - Class I | | $ | 998,598 | | | $ | 1,201,911 | | | $ | (456,185 | ) | | $ | (30,468 | ) | | $ | 1,713,856 | | | $ | 25,513 | | | $ | (349 | ) | | $ | — | |
| Voya VACS Index Series EM Portfolio | | | 5,215,406 | | | | 1,660,833 | | | | (877,514 | ) | | | 126,245 | | | | 6,124,970 | | | | 208,146 | | | | 50,489 | | | | — | |
| Voya VACS Index Series I Portfolio | | | 22,077,330 | | | | 6,854,221 | | | | (686,361 | ) | | | 519,832 | | | | 28,765,022 | | | | 677,480 | | | | 81,112 | | | | — | |
| Voya VACS Index Series MC Portfolio | | | 5,596,323 | | | | 3,914,501 | | | | (354,321 | ) | | | 99,699 | | | | 9,256,202 | | | | 74,854 | | | | 35,290 | | | | 26,191 | |
| Voya VACS Index Series S Portfolio | | | 47,608,520 | | | | 14,603,846 | | | | (3,369,460 | ) | | | 7,102,043 | | | | 65,944,949 | | | | — | | | | 939,742 | | | | — | |
| Voya VACS Index Series SC Portfolio | | | 5,751,614 | | | | 1,286,563 | | | | (2,148,440 | ) | | | (282,273 | ) | | | 4,607,464 | | | | 88,300 | | | | 132,667 | | | | 45,449 | |
| WisdomTree Voya Yield Enhanced USD Universal Bond Fund | | | 1,346,895 | | | | 700,674 | | | | — | | | | (45,142 | ) | | | 2,002,427 | | | | 42,381 | | | | — | | | | — | |
| | | $ | 88,594,686 | | | $ | 30,222,549 | | | $ | (7,892,281 | ) | | $ | 7,489,936 | | | $ | 118,414,890 | | | $ | 1,116,674 | | | $ | 1,238,951 | | | $ | 71,640 | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At June 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $103,589,077. |
| Net unrealized appreciation consisted of: | | | | |
| Gross Unrealized Appreciation | | $ | 16,864,529 | |
| Gross Unrealized Depreciation | | | (54,812 | ) |
| Net Unrealized Appreciation | | $ | 16,809,717 | |
See Accompanying Notes to Financial Statements
[This Page Intentionally Left Blank]
[This Page Intentionally Left Blank]
[This Page Intentionally Left Blank]
| Investment Adviser | Custodian |
Voya Investments, LLC 7337 East Doubletree Ranch Road, Suite 100 Scottsdale, Arizona 85258 | The Bank of New York Mellon 225 Liberty Street New York, New York 10286 |
| | |
| Distributor | Legal Counsel |
Voya Investments Distributor, LLC 7337 East Doubletree Ranch Road, Suite 100 Scottsdale, Arizona 85258 | Ropes & Gray LLP Prudential Tower 800 Boylston Street Boston, Massachusetts 02199 |
| | |
| Transfer Agent | |
BNY Mellon Investment Servicing (U.S.) Inc. 301 Bellevue Parkway Wilmington, Delaware 19809 | |
Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract or variable life insurance policy and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract or variable life insurance policy and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.
VPSAR-VINDSOL (0624)
