PORTFOLIO
OF
INVESTMENTS
as
of
February
29,
2024
(Unaudited)
1
Voya
Small
Company
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.5%
Communication
Services
:
3.4%
21,019
(1)
Cargurus,
Inc.
$
465,361
0.2
506,239
(1)
Globalstar,
Inc.
789,733
0.4
9,931
(1)
IAC,
Inc.
564,081
0.3
44,438
(1)
Integral
Ad
Science
Holding
Corp.
460,378
0.2
111,025
(1)
Magnite,
Inc.
1,334,520
0.7
69,782
(1)
Playtika
Holding
Corp.
517,084
0.3
314,711
(1)
Vimeo,
Inc.
1,507,466
0.7
94,487
(1)
ZipRecruiter,
Inc.
- Class
A
1,201,874
0.6
6,840,497
3.4
Consumer
Discretionary
:
7.1%
27,370
Acushnet
Holdings
Corp.
1,763,175
0.9
90,977
Arko
Corp.
594,080
0.3
87,373
(1)(2)
Figs,
Inc.
- Class
A
456,961
0.2
47,061
Gentex
Corp.
1,719,138
0.8
300,182
(1)
GrowGeneration
Corp.
642,390
0.3
42,500
International
Game
Technology
PLC
1,154,725
0.6
30,258
KB
Home
2,010,039
1.0
57,402
(1)
Lindblad
Expeditions
Holdings,
Inc.
532,117
0.3
22,885
Red
Rock
Resorts,
Inc.
- Class
A
1,327,101
0.7
46,051
Steven
Madden
Ltd.
1,971,904
1.0
41,967
(1)
Tri
Pointe
Homes,
Inc.
1,484,792
0.7
63,308
(1)
Udemy,
Inc.
715,380
0.3
14,371,802
7.1
Consumer
Staples
:
2.3%
29,923
(1)
BellRing
Brands,
Inc.
1,704,115
0.8
76,591
Dole
PLC
904,539
0.5
125,914
Primo
Water
Corp.
2,041,066
1.0
4,649,720
2.3
Energy
:
6.4%
404,997
(1)
Clean
Energy
Fuels
Corp.
1,194,741
0.6
35,161
Dorian
LPG
Ltd.
1,271,070
0.6
152,875
Excelerate
Energy,
Inc.
- Class
A
2,400,137
1.2
71,235
HighPeak
Energy,
Inc.
1,180,364
0.6
121,054
(1)
Kosmos
Energy
Ltd.
743,272
0.4
66,166
Murphy
Oil
Corp.
2,624,805
1.3
138,282
Permian
Resources
Corp.
2,151,668
1.1
100,222
SFL
Corp.
Ltd.
1,338,966
0.6
12,905,023
6.4
Financials
:
16.6%
138,198
AGNC
Investment
Corp.
1,321,173
0.6
45,943
(1)
Ambac
Financial
Group,
Inc.
751,627
0.4
37,042
Arrow
Financial
Corp.
888,267
0.4
69,131
Associated
Banc-Corp.
1,440,690
0.7
54,023
Atlantic
Union
Bankshares
Corp.
1,796,805
0.9
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Financials:
(continued)
79,746
BCB
Bancorp,
Inc.
$
836,536
0.4
45,194
Berkshire
Hills
Bancorp,
Inc.
971,219
0.5
148,970
BGC
Group,
Inc.
- Class
A
1,035,341
0.5
26,162
(2)
Blackstone
Mortgage
Trust,
Inc.
- Class
A
532,920
0.3
47,862
ConnectOne
Bancorp,
Inc.
947,189
0.5
94,673
Eastern
Bankshares,
Inc.
1,223,175
0.6
1,883
(1)
Enstar
Group
Ltd.
579,851
0.3
53,997
Farmers
National
Banc
Corp.
727,880
0.4
121,990
First
BanCorp/Puerto
Rico
2,071,390
1.0
151,751
(1)
Genworth
Financial,
Inc.
- Class
A
933,269
0.5
41,591
Hilltop
Holdings,
Inc.
1,284,330
0.6
10,521
International
Bancshares
Corp.
545,935
0.3
115,123
KKR
Real
Estate
Finance
Trust,
Inc.
1,122,449
0.6
113,375
Ladder
Capital
Corp.
1,225,584
0.6
55,709
(1)
LendingClub
Corp.
451,800
0.2
86,453
MFA
Financial,
Inc.
970,003
0.5
33,642
NBT
Bancorp,
Inc.
1,156,948
0.6
25,046
Origin
Bancorp,
Inc.
747,373
0.4
69,063
(1)
Pagseguro
Digital
Ltd.
- Class
A
961,357
0.5
52,483
ProAssurance
Corp.
647,115
0.3
46,656
Provident
Financial
Services,
Inc.
703,572
0.3
179,805
Redwood
Trust,
Inc.
1,102,205
0.5
61,891
Simmons
First
National
Corp.
- Class
A
1,188,307
0.6
8,136
Stewart
Information
Services
Corp.
512,405
0.2
38,679
United
Community
Banks,
Inc.
1,006,041
0.5
15,578
Unum
Group
770,332
0.4
157,336
Valley
National
Bancorp
1,288,582
0.6
32,465
Victory
Capital
Holdings,
Inc.
- Class
A
1,247,630
0.6
74,545
WisdomTree,
Inc.
600,833
0.3
33,590,133
16.6
Health
Care
:
14.1%
582,714
(1)
23andMe
Holding
Co.
- Class
A
332,147
0.2
63,848
(1)
Alignment
Healthcare,
Inc.
383,088
0.2
140,769
(1)
Amicus
Therapeutics,
Inc.
1,804,659
0.9
98,044
(1)
Amneal
Pharmaceuticals,
Inc.
541,203
0.3
18,768
(1)
Amphastar
Pharmaceuticals,
Inc.
874,026
0.4
11,744
(1)
Arcellx,
Inc.
772,990
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
February
29,
2024
(Unaudited)
(continued)
2
Voya
Small
Company
Fund
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Health
Care:
(continued)
49,861
(1)
Avanos
Medical,
Inc.
$
925,919
0.5
221,640
(1)
BioCryst
Pharmaceuticals,
Inc.
1,247,833
0.6
18,218
Bio-Techne
Corp.
1,340,298
0.7
23,590
Bruker
Corp.
2,041,479
1.0
695,603
(1)
Cerus
Corp.
1,516,414
0.7
127,154
(1)
Community
Health
Systems,
Inc.
354,760
0.2
16,274
DENTSPLY
SIRONA,
Inc.
531,834
0.3
40,662
(1)
Guardant
Health,
Inc.
772,578
0.4
7,602
(1)
HealthEquity,
Inc.
628,001
0.3
54,762
(1)
Insmed,
Inc.
1,518,003
0.7
19,913
(1)
Intellia
Therapeutics,
Inc.
639,606
0.3
9,326
(1)
Lantheus
Holdings,
Inc.
609,734
0.3
369,400
(1)(2)
MannKind
Corp.
1,518,234
0.7
836,195
(1)(2)
OPKO
Health,
Inc.
836,195
0.4
27,753
(1)
Option
Care
Health,
Inc.
895,589
0.4
51,644
(1)
Orthofix
Medical,
Inc.
674,471
0.3
69,822
Patterson
Cos.,
Inc.
1,891,478
0.9
27,451
QIAGEN
N.V.
1,174,628
0.6
39,347
(1)
Revolution
Medicines,
Inc.
1,159,949
0.6
562,041
(1)
Rigel
Pharmaceuticals,
Inc.
854,302
0.4
50,921
(1)
Roivant
Sciences
Ltd.
582,536
0.3
22,795
(1)
Supernus
Pharmaceuticals,
Inc.
677,011
0.3
71,980
(1)
Travere
Therapeutics,
Inc.
544,169
0.3
13,394
(1)
Viking
Therapeutics,
Inc.
1,032,008
0.5
28,675,142
14.1
Industrials
:
17.9%
20,875
AAON,
Inc.
1,753,083
0.9
24,177
Allison
Transmission
Holdings,
Inc.
1,821,253
0.9
17,443
Apogee
Enterprises,
Inc.
997,914
0.5
102,660
(1)
CoreCivic,
Inc.
1,563,512
0.8
18,739
Crane
Holdings
Co.
1,094,732
0.5
30,897
First
Advantage
Corp.
483,847
0.2
16,542
Franklin
Electric
Co.,
Inc.
1,719,706
0.8
42,976
Hillenbrand,
Inc.
2,043,509
1.0
12,470
Insperity,
Inc.
1,269,321
0.6
21,977
Kennametal,
Inc.
554,700
0.3
23,644
(1)
Kratos
Defense
&
Security
Solutions,
Inc.
431,267
0.2
100,188
(1)
Legalzoom.com,
Inc.
1,242,331
0.6
40,769
(1)
Leonardo
DRS,
Inc.
925,864
0.5
87,659
(1)
Manitowoc
Co.,
Inc.
1,221,966
0.6
43,694
Marten
Transport
Ltd.
823,632
0.4
180,844
Mueller
Water
Products,
Inc.
- Class
A
2,812,124
1.4
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Industrials:
(continued)
20,493
(1)
Nextracker,
Inc.
- Class
A
$
1,152,526
0.6
110,648
(1)
NOW,
Inc.
1,565,669
0.8
31,108
nVent
Electric
PLC
2,094,191
1.0
19,865
Pentair
PLC
1,545,298
0.8
534,408
(1)
Planet
Labs
PBC
1,170,354
0.6
72,939
(1)
Resideo
Technologies,
Inc.
1,628,728
0.8
76,419
Shyft
Group,
Inc.
787,880
0.4
23,053
Timken
Co.
1,936,222
0.9
23,641
(1)
Titan
Machinery,
Inc.
596,462
0.3
50,307
Wabash
National
Corp.
1,372,375
0.7
8,307
Watts
Water
Technologies,
Inc.
- Class
A
1,694,213
0.8
36,302,679
17.9
Information
Technology
:
17.2%
240,619
(1)
8x8,
Inc.
680,952
0.3
121,066
A10
Networks,
Inc.
1,611,388
0.8
51,553
(1)
ACI
Worldwide,
Inc.
1,696,609
0.8
20,842
(1)
Alkami
Technology,
Inc.
520,008
0.2
21,083
(1)
Altair
Engineering,
Inc.
- Class
A
1,793,742
0.9
53,947
(1)
Box,
Inc.
- Class
A
1,391,293
0.7
30,259
Clear
Secure,
Inc.
- Class
A
582,486
0.3
40,543
Cognex
Corp.
1,599,421
0.8
28,642
CSG
Systems
International,
Inc.
1,562,708
0.8
17,222
CTS
Corp.
767,412
0.4
71,474
(1)
Dropbox,
Inc.
- Class
A
1,711,802
0.8
37,964
EVERTEC,
Inc.
1,371,639
0.7
73,826
(1)
ExlService
Holdings,
Inc.
2,297,465
1.1
45,247
(1)
Extreme
Networks,
Inc.
571,922
0.3
64,176
(1)
Knowles
Corp.
1,048,636
0.5
2,906
Littelfuse,
Inc.
692,325
0.3
41,217
(1)
N-able,
Inc.
555,193
0.3
15,889
(1)
Nutanix,
Inc.
- Class
A
1,003,549
0.5
35,150
(1)
PowerSchool
Holdings,
Inc.
- Class
A
734,284
0.4
18,164
(1)
PROS
Holdings,
Inc.
649,363
0.3
26,650
Sapiens
International
Corp.
NV
820,021
0.4
73,583
(1)
Sprinklr,
Inc.
- Class
A
958,786
0.5
23,464
(1)
Squarespace,
Inc.
- Class
A
780,882
0.4
24,730
(1)
Teradata
Corp.
930,343
0.5
22,419
(1)
Varonis
Systems,
Inc.
1,138,885
0.6
24,465
(1)
Veeco
Instruments,
Inc.
885,878
0.4
179,385
(1)
Viavi
Solutions,
Inc.
1,713,127
0.8
15,669
(1)
Workiva,
Inc.
1,349,414
0.7
144,565
(1)
Yext,
Inc.
855,825
0.4
107,681
(1)(2)
Zeta
Global
Holdings
Corp.
- Class
A
1,130,651
0.6
PORTFOLIO
OF
INVESTMENTS
as
of
February
29,
2024
(Unaudited)
(continued)
3
Voya
Small
Company
Fund
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Information
Technology:
(continued)
184,212
(1)
Zuora,
Inc.
- Class
A
$
1,488,433
0.7
34,894,442
17.2
Materials
:
5.9%
36,382
Avient
Corp.
1,472,743
0.7
9,514
Balchem
Corp.
1,495,506
0.7
61,404
(1)
Constellium
SE
1,190,624
0.6
128,570
Element
Solutions,
Inc.
3,021,395
1.5
235,148
(1)
Glatfelter
Corp.
524,380
0.3
25,075
Minerals
Technologies,
Inc.
1,814,427
0.9
327,466
(1)
Rayonier
Advanced
Materials,
Inc.
1,110,110
0.5
20,514
Sensient
Technologies
Corp.
1,371,976
0.7
12,001,161
5.9
Real
Estate
:
5.9%
56,884
Acadia
Realty
Trust
932,329
0.5
118,919
(1)
Anywhere
Real
Estate,
Inc.
745,622
0.4
148,935
(1)
Apartment
Investment
and
Management
Co.
- Class
A
1,099,140
0.6
31,859
Broadstone
Net
Lease,
Inc.
475,018
0.2
24,675
CareTrust
REIT,
Inc.
556,668
0.3
80,766
Empire
State
Realty
Trust,
Inc.
- Class
A
805,237
0.4
11,715
EPR
Properties
481,252
0.2
60,160
Essential
Properties
Realty
Trust,
Inc.
1,437,222
0.7
9,877
First
Industrial
Realty
Trust,
Inc.
523,481
0.3
37,583
Gladstone
Land
Corp.
488,955
0.2
28,317
Peakstone
Realty
Trust
389,925
0.2
30,728
Plymouth
Industrial
REIT,
Inc.
662,803
0.3
68,916
Retail
Opportunity
Investments
Corp.
891,084
0.4
38,532
Sabra
Health
Care
REIT,
Inc.
534,824
0.3
157,299
Summit
Hotel
Properties,
Inc.
1,009,860
0.5
151,599
Uniti
Group,
Inc.
888,370
0.4
11,921,790
5.9
Utilities
:
1.7%
17,672
ALLETE,
Inc.
1,000,942
0.5
56,841
Avista
Corp.
1,887,121
0.9
16,225
Portland
General
Electric
Co.
651,759
0.3
3,539,822
1.7
Total
Common
Stock
(Cost
$212,837,084)
199,692,211
98.5
Shares
Value
Percentage
of
Net
Assets
EXCHANGE-TRADED
FUNDS
:
1.2%
11,656
(2)
iShares
Russell
2000
ETF
$
2,374,677
1.2
Total
Exchange-Traded
Funds
(Cost
$2,358,130)
2,374,677
1.2
Total
Long-Term
Investments
(Cost
$215,195,214)
202,066,888
99.7
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
1.6%
Repurchase
Agreements
:
1.6%
1,000,000
(3)
Bank
of
America
Inc.,
Repurchase
Agreement
dated
02/29/2024,
5.310%,
due
03/01/2024
(Repurchase
Amount
$1,000,145,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
0.000%-
7.500%,
Market
Value
plus
accrued
interest
$1,020,000,
due
02/01/26-01/20/64)
1,000,000
0.5
1,000,000
(3)
Daiwa
Capital
Markets,
Repurchase
Agreement
dated
02/29/2024,
5.340%,
due
03/01/2024
(Repurchase
Amount
$1,000,146,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
0.000%-
7.000%,
Market
Value
plus
accrued
interest
$1,020,000,
due
04/11/24-03/01/54)
1,000,000
0.5
PORTFOLIO
OF
INVESTMENTS
as
of
February
29,
2024
(Unaudited)
(continued)
4
Voya
Small
Company
Fund
Principal
Amount†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
181,165
(3)
HSBC
Securities
(USA)
Inc.,
Repurchase
Agreement
dated
02/29/2024,
5.310%,
due
03/01/2024
(Repurchase
Amount
$181,191,
collateralized
by
various
U.S.
Government
Agency
Obligations,
1.500%-
7.500%,
Market
Value
plus
accrued
interest
$184,788,
due
05/01/31-05/01/58)
$
181,165
0.1
1,000,000
(3)
MUFG
Securities
Americas
Inc.,
Repurchase
Agreement
dated
02/29/2024,
5.320%,
due
03/01/2024
(Repurchase
Amount
$1,000,146,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-
6.000%,
Market
Value
plus
accrued
interest
$1,020,000,
due
01/01/30-02/01/54)
1,000,000
0.5
Total
Repurchase
Agreements
(Cost
$3,181,165)
3,181,165
1.6
Total
Short-Term
Investments
(Cost
$3,181,165)
3,181,165
1.6
Total
Investments
in
Securities
(Cost
$218,376,379)
$
205,248,053
101.3
Liabilities
in
Excess
of
Other
Assets
(2,609,952)
(1.3)
Net
Assets
$
202,638,101
100.0
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Non-income
producing
security.
(2)
Security,
or
a
portion
of
the
security,
is
on
loan.
(3)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
PORTFOLIO
OF
INVESTMENTS
as
of
February
29,
2024
(Unaudited)
(continued)
5
Voya
Small
Company
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
February
29,
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
February
29,
2024
Asset
Table
Investments,
at
fair
value
Common
Stock*
$
199,692,211
$
—
$
—
$
199,692,211
Exchange-Traded
Funds
2,374,677
—
—
2,374,677
Short-Term
Investments
—
3,181,165
—
3,181,165
Total
Investments,
at
fair
value
$
202,066,888
$
3,181,165
$
—
$
205,248,053
*
For
further
breakdown
of
Common
Stock
by
sector,
please
refer
to
the
Portfolio
of
Investments.
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
12,094,171
Gross
Unrealized
Depreciation
(25,222,497)
Net
Unrealized
Depreciation
$
(13,128,326)